Crispr Therapeutics shares tumble after significant earnings miss
In a challenging year for Know Labs, the company’s stock has hit a 52-week low, trading at $0.42, with the company’s market capitalization now standing at just $1.49 million. According to InvestingPro analysis, the stock’s RSI indicates oversold conditions, though the company’s overall financial health score remains weak at 0.91 out of 10. This price level underscores a significant downturn for the tech firm, which has seen its shares plummet by an alarming 97.95% over the past year, with a particularly steep 94% decline in the past six months alone. Investors have been navigating a tough market environment, and Know Labs has been particularly hard-hit, with market sentiment reflecting broader concerns about the company’s performance and future prospects. Despite current challenges, analysts maintain a $40 price target, though InvestingPro subscribers can access 14 additional key insights about the company’s financial position and growth prospects through the comprehensive Pro Research Report. The 52-week low serves as a stark indicator of the hurdles Know Labs faces as it seeks to regain its footing and investor confidence in the months ahead.
In other recent news, Know Labs Inc. reported a net loss of $4.67 million for the first quarter of fiscal year 2025, an increase from the $3.45 million loss in the same period last year. Despite the widened loss, the company has managed to reduce its cash burn rate by 44% to $1.89 million. Know Labs has also launched a new licensing program for its RFDS sensor platform, aiming to monetize its technology through strategic partnerships. The company is focusing on expanding its technology reach and plans to raise additional funds through equity issuance, preferred stock, and convertible debentures.
Furthermore, Know Labs is pursuing FDA approval for its Know You product, which is part of its efforts to aggressively monetize its intellectual property. While the company faces challenges such as limited cash reserves and a trading suspension by the NYSE, it remains committed to expanding its technological footprint. CEO Ron Erickson emphasized the global potential of the KTL program, highlighting its aim to expand the reach of the program on a global scale. CFO Pete Connolly reassured investors that some financial adjustments are non-cash and do not impact actual cash from operations. Know Labs continues to focus on its core technology and seeks to secure strategic partnerships to drive future growth.
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