Today’s Hot Stock under Review: Aduro BioTech, Inc. (NASDAQ: ADRO)

On 16 October 2018, Aduro BioTech, Inc. (NASDAQ: ADRO) negotiated 366,383 shares against it an average volume of 390,133 shares. The stock concluded the recent trade at $6.83 with upbeat/downbeat trend move of +6.89%. The company has total market value of 539.978M billion. The daily trading range was observed between a day’s low price of $6.34 to a day’s high price of $6.94.

Aduro Biotech, Inc. (ADRO) recently stated financial results for the second quarter ended June 30, 2018. Net loss for the second quarter of 2018 was $24.4M, or $0.31 per share, and for the six months ended June 30, 2018 net loss was $45.9M, or $0.59 per share, contrast to net loss of $19.4M, or $0.27 per share, and net loss of $41.2M, or $0.59 per share, respectively, for the same periods in 2017.

Recent Developments:

  • Presented updated preclinical data for ADU-S100, a first-in-class small molecule therapeutic in Phase 1 studies targeting the STING pathway at the American Association for Cancer Research Yearly Meeting (AACR) held on April 14-18, 2018
  • Presented at AACR preclinical data for BION-1301, an anti-APRIL antibody presently in a Phase 1/2 study for the treatment of patients with multiple myeloma
  • Presented at AACR preclinical data for ADU-1604, an anti-CTLA-4 antibody plannedto enter clinical development in the second half of 2018
  • Presented preliminary observations from case study of a patient with metastatic colorectal cancer treated in ongoing proof-of-concept Phase 1 trial of personalized neoantigen-based immunotherapy (pLADD) program at the European Neoantigen Summit held on April 24-26, 2018
  • Reported initiation of Phase 1b study of ADU- 214 in combination with nivolumab for the treatment of advanced lung cancer under planned joint venture with Janssen

Cash, cash equivalents and marketable securities totaled $305.9M at June 30, 2018, contrast to $349.7M at December 31, 2017.

Revenue was $2.6M for the second quarter of 2018 and $9.3M for the six months ended June 30, 2018, contrast to $5.9M and $9.7M, respectively, for the same periods in 2017. The variation in alliance and license revenue for the quarter was primarily Because of the timing of milestone payments earned from Merck for advancement of its anti-CD27 antibody, which entered clinical development in early 2018. The decrease in revenue for the first half of 2018 was primarily Because of the adoption of the ASC 606 accounting standard on January 1, 2018, which resulted in a change in revenue recognition methodology for our Novartis alliance revenue.

Research and development expenses were $19.4M for the second quarter of 2018 and $39.5M for the six months ended June 30, 2018, contrast to $21.4M and $42.0M, respectively, for the same periods in 2017. The decrease in research and development expenses for both periods was primarily Because of lower expenses for our antibody programs, including contingent consideration and contract manufacturing related to ADU-1604 and BION-1301, respectively. In addition, clinical development expenses declined in 2018 following the wind down of CRS-207 development activities, partially offset by raised expenses for our ongoing clinical programs including ADU-S100, BION-1301, ADU-1604 and our personalized neoantigen-based immunotherapy.

General and administrative expenses were $8.8M for the second quarter of 2018 and $17.9M for the six months ended June 30, 2018, contrast to $8.2M and $16.5M, respectively, for the same periods in 2017. The raise in general and administrative expenses for both periods was primarily Because of outside professional services, legal fees associated with our patent portfolio and higher stock-based compensation expense.

In the trailing 12 months period, return on assets ratio of the Company was -22.30% and return on equity ratio was -44.50% while its return on investment ratio was -38.60%. Aduro BioTech, Inc., an immunotherapy company, focuses on the discovery, development, and commercialization of therapies that transform the treatment of challenging diseases. The stock as of last trading session moved 33.92% up from its 52 week low and was -31.70% behind its 52 week high.

 

Marcy Diaz

Marcy Diaz - Healthcare Marcy Diaz is a freelance writer and editor with more than 8 years’ experience in the profession and has conducted many training workshops in this field. She is a professional speaker on creative writing, digital publishing, and internet marketing. She lives in New York with her Husband and 2 kids. Marcy graduated with distinction from a reputable University in Marketing. She also teaches Marketing subject in New York. Marcy is a reporter of “Healthcare” Category. Address:  3695 Sugarfoot Lane Cayuga, IN 47928, United States of America Phone Number:  +1 765 492 5485 Email:  Marcy@dailynewsgallery.com

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