Healthcare Stock Closed with Positive Gains: Evelo Biosciences, Inc. (NASDAQ: EVLO)

Shares of Evelo Biosciences, Inc. (NASDAQ :EVLO) closed the trading at a price of $13.13 with the positive change of +2.18%. In the past session approximately 40,875 shares were exchanged against the average daily trading volume of 98,611 shares. The stock touched to the maximum level of $13.50, and it reached the lower level of $12.75 in past session. The stock’s market capitalization has now valued at $416.767M. The stock’s low price in its 52 week is $11.10 per share while $16.75 as the 52 week high price. The last bid price was called at $6.57 x 800 and the ask price was stated at $16.65 x 1000 .

Evelo Biosciences, Inc. (NASDAQ: EVLO) stated financial results and provided a business update for the first quarter ended March 31, 2018.

First Quarter 2018 Financial Results:

Cash Position: As of March 31, 2018, cash and cash equivalents were $114.3M, as contrast to cash and cash equivalents of $38.2M as of December 31, 2017. Evelo expects that its cash and cash equivalents as of March 31, 2018 together with the proceeds from its initial public offering will enable it to fund its operating expenses and capital expenditure requirements into the second half of 2020.

R&D Expenses: R&D expenses were $7.1M for the three months ended March 31, 2018, as contrast to $3.8M for the three months ended March 31, 2017. The increase of $3.3M was due primarily to a raise of $1.6M in costs for Evelo’s inflammation programs, driven by external preclinical research, manufacturing costs and licensing expense, a raise of $1.3M in gut-body network platform expenses in line with Evelo’s strategy to maximize the potential of its platform and a raise of $0.8M in personnel costs, including increases in salaries and bonuses of $0.5M and a raise of $0.2M in stock-based compensation expense. Oncology and other program expenses reduced slightlyBecause of the timing of activities supporting the predictable start of Evelo’s clinical trial with EDP1503 in the second half of 2018.

G&A Expenses: G&A expenses were $3.3M for the three months ended March 31, 2018, contrast to $1.4M for the three months ended March 31, 2017. The increase of $1.9M was driven by increased general and administrative and facility needs to support Evelo’s growing R&D organization and was primarily Because of a raise of $0.9M in professional fees, including legal, patent and other professional consulting fees and a raise of $0.7M in personnel costs, including a raise of $0.4M in salaries and bonus and a raise of $0.3M in stock-based compensation expense.

Net Loss Attributable to Ordinary Stockholders: Net loss attributable to ordinary stockholders was $12.9M for the three months ended March 31, 2018, or $3.29 per basic and diluted share, as contrast to a net loss attributable to ordinary stockholders of $6.6M for the three months ended March 31, 2017, or $1.81 per basic and diluted share.

The average true range of Evelo Biosciences, Inc.’s (EVLO) is recorded at 0.94 and the relative strength index of the stock stands 50.15. The stock price is going above to its 52 week low with 18.29% and lagging behind from its 52 week high with -21.60%. Analyst recommendation for this stock stands at 2.00. A look on the firm performance, its monthly performance is -0.15% and a quarterly performance of -17.94%. The stock price is trading downbeat from its 200 days moving average with -5.84% and down from 50 days moving average with -1.13%.

Angela Maria

Angela writes about Dividend news of Healthcare, Services, technology, financial, energy sector companies and other global companies that traded in US market. Before pursuing a financial and journalism career, she graduated from University of Georgia with a degree in Economic and Mathematics.

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