Kaleido Biosciences, Inc. (KLDO) is a biotechnology firm developing a small molecule to treat inflammatory conditions and disorders by selective targeting the resident microbiome. The company’s shares nosedived by 81.7% to remain at $0.26 at the closing of Friday’s regular trading session. The price surged by 25.9% in the premarket session on Monday. The current stock price as of the writing stands at $0.34.
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KLDO: Recent Developments
KLDO filed Form 8-K on April 8, with the voluntary delisting of its shares in the Nasdaq Global Select Stock Market after its decision to immediately discontinue its business operations according to the unscheduled material events or corporate event report. The company updated on January 21, about the presentation of topline data of KB295, an innovative Microbiome Metabolic Therapy by the company’s Executive management at the 2022 Virtual Crohn’s and Colitis Congress. KB295 is used to treat mild-to-moderate ulcerative colitis.
KLDO: Industry Outlook
The biotechnology sector is at stake as it is having a rough time as a result of several factors including instability as a result of the Ukrainian invasion by Russia. Also, international supply chain restraints, ever-increasing inflation, more constricted monetary policies, and resurfaced pandemic are some of the major causes in recent times.
KLDO: Company Outlook
KLDO outshined as it topped the EPS estimates for the fourth quarter of fiscal 2021 by $0.08 along with missing the revenue target by $628 thousand. It is ranked 166 in the pharmaceutical industry and 869 in the overall healthcare sector. The company’s market cap stood at $11.5 million, while its shares’ 52-week low and high price range is $0.25 and $9.47 respectively. The company also updated on the expansion of its collaboration with Janssen in December to explore MMT’s potential for the prevention of atopic and metabolic conditions.
KLDO shares down performed in the market by 96% as an outcome of the aforementioned reasons. Its price dropped in Friday’s regular trading following the filing of Form 8-K. In today’s premarket session, the stock rebounded likely due to correction.