During the previous stock market close, Acacia Pharma Group Plc (OTCPIPNK-ACPGF) stock jumped significantly, gaining 27.66% to $3.0000. During the last week, ACPGF’s stock performance was 42.86%, while its monthly performance was -25.00%. The ACPGF stock price has not surged due to any current news, but the company recently released its quarterly results, which may have accelerated the rise.
How did ACPGF do financially?
Acacia Pharma specializes in the development and commercialization of products intended to improve the outcomes of significant medical treatments such as cancer chemotherapy, surgery, or other invasive procedures in hospitals. The ACPGF’s product portfolio is designed to address unmet needs in these areas that are both important and commercially attractive.
Amisulpride injection, ACPGF’s first product, has been approved for the management of postoperative nausea and vomiting (PONV) in the United States. Cambridge, UK is the headquarters of ACPGF’s R&D division, while its US headquarters are in Indianapolis, IN.
Acacia Pharma announced its results for the six month period ending 30 June 2021 as well as its outlook. On Sept 30, ACPGF also held a KOL webinar with Barhemsys and Byfavo to discuss the hospital user experience.
- An equity financing of €27m (c$33m) was completed by the ACPGF in February 2021.
- The ACPGF repaid its Hercules loan early in May 2021.
- At 30 June 2021, ACPGF had $47.1m in cash and cash equivalents, up from $24.6m at June 30, 2020 and $46.7m at December 31, 2020.
- In the first half of 2021, ACPGF had net revenue of $0.4m, compared with nil in the first half of 2020.
- As a result of investing in the launch and commercialization of Barhemsys and Byfavo, ACPGF registered operating losses of $24.9 million for the period compared to $12.8 million for 1H 2020.
- As a result of amortizing the Byfavo license, the G&A costs increased $4.1 million in the first half of 2021 to $8.5 million.
- For Barhemsys and Byfavo, ACPGF’s R&D activities have been directed toward meeting FDA post-marketing requirements.
- As part of the post-marketing commitments for ACPGF, R&D costs from 1H 2020 to 1H 2021 increased from $0.6m to $2.1m.
- As a result of increased commercial spending, and following equity raises in August 2020 and February 2021, the first half of 2021 saw a basic loss per share of $0.31.
Outlook and summary for 2021:
Acacia Pharma (ACPGF) has been encouraged by the positive customer feedback received for its two products for the full year 2021, both Barhemsys and Byfavo. Initially, these products are targeted at large markets, and ACPGF believes they will be successful in addressing the current unmet needs in PONV and procedural sedation. The ACPGF is now in the process of launching a series of Phase 4 studies to provide further impetus and data for expanding into additional market segments for both Barhemsys and Byfavo in the longer term.