PolarityTE Inc. (PTE) stock gained in the current market had no significant news. But the company had recently announced its fiscal 2021 results. PTE stock gained 4.33% to reach $0.1977. PTE stock closed at $0.19 at the end of the last trading session with a trading volume of 880.27K shares.
Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .
Global and US Pharmaceutical Industry Overview
In 2020, the value of the global pharmaceutical industry was around $100.9 billion. In FY27, the global pharmaceutical industry is predicted to grow at a CAGR of 14.8% to reach $267.4. The pharmaceutical industry shifted its attention to viral vectors in the virotherapy and vaccine sectors at the peak of COVID19 in FY20 to produce effective vaccines and pharmaceutical therapies during COVID19. Post-vaccine initiatives will resume in the pharmaceutical business. In many cases, these efforts will benefit from the lessons learned by industry during the COVID19 epidemic.
In FY20, the pharmaceuticals market in North America was the biggest globally, with a share of 46%. The medicines market in Asia-Pacific accounted for 26% of the worldwide total. The pharmaceutical industry in Africa was the smallest in the world.
It is anticipated that the pharmaceutical industry’s manufacturing sector would see an even higher increase. Pharmaceutics manufacturers throughout the world are being propelled forward by an increasing emphasis on geriatric and pediatric patients, a rise in cardiovascular disease and diabetes, and an increase in the number of people seeking home healthcare. From FY21 to FY30, the worldwide pharmaceutical manufacturing industry is predicted to increase at a notable CAGR of 12.8%.
PTE: Fiscal 2021 Key Financials
- The company announced revenue of $0.7 million in fiscal 2021, declining around 7% compared to the revenue of 2020.
- Net loss was around $30 million in 2021, while last year’s net loss was $42.8 million.
- As of 2021, the company had cash and cash equivalents of $19.3 million.
After the covid-19 pandemic, there has been a surge in the pharmaceutical industry. Companies have been focusing on finding the exact cure for the virus.