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Wednesday, May 25, 2022

Profit Booking: Celsion Corp. (CLSN) Stock Dropped After Hours.

Celsion Corp. (CLSN) is a clinical-stage biotech company engaged in developing novel cancer therapeutics along with vaccines for SARS-CoV2. Its shares rocketed higher by 26.4% to be $6.22 during Tuesday’s regular trading session. Its price plunged as of the writing in the aftermarket session by 2.25%. The one-year price range of its shares on the lower side is $4.32, while the higher side is $23.2 with a market cap of $35.8 million.


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CLSN: Recent Developments

CLSN announced on April 5, that the data safety monitoring board had recommended unanimously the continuation of the patients to be treatment in the Phase 1/2 OVATION 2 study of GEN-1 trials at a dose of 100 mg/m2. The company previously announced an interim safety review of 81 patients in the study of GEN-1, which is used in an advanced stage of ovarian cancer. The DSMB also determined that there is an acceptable benefit or risk associated with the safety profile related to GEN-1, and the patients can tolerate approximately 17 doses in a six-month treatment duration. Up to 80% of the 110 anticipated patients had already been enrolled in the OVATION 2 studies and a total of 130 patients will be registered if time allows. The primary endpoint of PFS will be announced following 16 months of median time on study. The company expects topline data from the trials during Q3 2023.

CLSN: Industry Outlook

CLSN stock belongs to the biotech industry and the stock performance of this industry had been influenced by several reasons during the past year as its volatility became more over the year. The analysts suggest this to be an effect of ‘tourist investors’ as a main reason for the plummeting biotech stocks. Also, the Russian aggression toward Ukraine played a major part in the drop in overall global economic conditions. The tech analysts assume that in the coming days, bigger biopharmaceuticals will purchase private and public sector biotech firms. Also, as the analysts predict, more good news will start pouring in from the companies soon.

CLSN: Company Outlook

The company’s FY21 EPS was -$3.83 remained in line with the estimations. For the current quarter, the analysts estimate that the company will post $125 thousand in revenue with -$1.05 EPS. Also, the company announced its cash position for December 31, 2021, to be $56.9 million. It also reported multiple steps towards its pipeline development such as advancement in a proof-of-concept to non-human primate challenge study for SARS-CoV2.

Conclusion

CLSN shares touched a new low of 71% in the last year due to the above-mentioned factors. Its price rose in Tuesday’s regular trading following DSMB’s unanimous recommendation for GEN-1 trials in OVATION 2 studies. Its price dipped on the same day’s aftermarket after profit booking by the investors.

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