PLx Pharma (PLXP) Stock: Why The Price Surged Over 28% Today

By Amit Chowdhry ● May 13, 2022
  • The stock price of PLx Pharma Inc (NASDAQ: PLXP) surged over 28% during intraday trading today. This is why.

The stock price of PLx Pharma Inc (NASDAQ: PLXP) surged over 28% during intraday trading today. Investors are responding positively to the financial results for the three months ended March 31, 2022.

These are the Q1 2022 financial highlights:

— Total revenues for the first quarter of 2022 were $2.1 million, compared to no revenue in the first quarter of 2021. On a sequential basis, net sales increased approximately 31% compared to the fourth quarter of 2021 and reflected shipments to retailers in conjunction with strong promotion and display support during National Heart Health month in February. The net sales of the 81 mg dose (consisting of a 12 count and 30 count SKU), represented approximately 79% of total net sales in the first quarter of 2022.

— The gross margin of 44% was in-line sequentially with the fourth quarter of 2021 and reflected a favorable product mix consisting of higher sales of VAZALORE 81 mg.

— The net loss attributable to common stockholders for the first quarter of 2022 was $10.8 million, or a loss of ($0.39) per diluted share, compared to a net loss of $11.9 million, or ($0.73) per diluted share in the prior year period.

— Adjusted non-GAAP net loss per diluted share was ($0.66) in the first quarter of 2022, compared to an adjusted net loss of ($0.22) per diluted share in the first quarter of 2021.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.