Attention Seeking Stock: Edge Therapeutics, Inc. (NASDAQ: EDGE)

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Edge Therapeutics, Inc.,EDGE

On 23 Jan 2019, Edge Therapeutics, Inc. (NASDAQ: EDGE) above/below +3.95% and ended at $0.3950. The stock’s market capitalization arrived at $12.375M and total traded volume was 193,915 shares. During last trade, its maximum trading price was registered $0.4000 and it’s the minimum trading price was noted $0.3719.

Edge Therapeutics, Inc. (EDGE) recently reported financial results for the quarter ended September 30, 2018.

Third Quarter Financial Results

Cash Position: Cash, cash equivalents and marketable securities as of September 30, 2018 were $36.8M, contrast with $88.1M as of December 31, 2017.

Operating Expenses:  Research and development (R&D) expenses reduced to $0.3M in the third quarter of 2018 from $6.9M in the third quarter of 2017. The decrease in R&D expense was primarily Because of a decrease in expenses related to the before reported discontinuance of the NEWTON 2 clinical study and reduction in workforce. General and administrative (G&A) expenses reduced to $3.3M for the three months ended September 30, 2018 from $4.0M in the comparable period in 2017. The decrease in G&A expense was largely Because of decreases in departmental operating expenses, professional fees and marketing costs. In the third quarter of 2018, Edge recorded a restructuring charge of $0.8M related to the before reported discontinuance of the NEWTON 2 study.

Net Loss: Net loss for the third quarter ended September 30, 2018 was $4.3M, including the $0.8M restructuring charge. Net loss in the third quarter of 2017 was $11.3M.

Review of Planned Alternatives

Edge continues to be actively engaged in its review of planned alternatives to maximize stockholder value, a review that was reported in April 2018. At that time, Edge retained Piper Jaffray & Co. to act as its financial advisor to assist with this review process. Potential planned alternatives that may be explored or evaluated as part of this review include, but are not limited to, an acquisition, merger, business combination or other planned transaction involving Edge. Edge has reduced the scope of its operations, including the size of its workforce, in order to preserve its cash resources during the planned alternatives review process.

EDGE return on assets ratio of the firm was -81.40% and return on equity ratio was -120.90%. The short ratio in the company’s stock is documented at 1.39 and the short float is around of 3.31%. In the liquidity ratio analysis; quick ratio for most recent quarter was 5.50 while current ratio for time period was 5.50.

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