Active Stock to Observe: LogicBio Therapeutics, Inc. (NASDAQ-LOGC)

LogicBio Therapeutics, Inc. (NASDAQ-LOGC) changed +7.54% to recent value of $14.98. The stock transacted 7,598 shares during most recent day however it has an average volume of 23,146 shares. It spotted trading -25.36% off 52-week high price. On the other end, the stock has been noted 123.58% away from the low price over the last 52-weeks. The company has 22.49M shares outstanding and market value of 336.965M.

LogicBio Therapeutics, Inc. (LOGC) recently stated financial results and provided a corporate update for the fourth quarter and full year ended December 31, 2018.

Fourth Quarter and Full Year 2018 Financial Results

Cash, cash equivalents, and marketable securities at December 31, 2018, were $80.9M, contrast to $12.9M at September 30, 2018, and $24.6M at December 31, 2017.

For the three months ended December 31, 2018, net loss attributable to ordinary stockholders was $7.1M, or $0.41 per share, contrast to $5.0M, or $3.05 per share, for the same period in 2017. The raise in the fourth quarter and the full year in 2018 was primarily attributable to the proceeds from LogicBio’s initial public offering (IPO), which was completed in October 2018.  The Company received about $72,300 in net proceeds after deducting underwriting discounts and commissions and offering costs.

  • R&D Expenses: R&D expenses were $5.0M for the three months ended December 31, 2018, contrast to $2.1M for the same period last year.  The raise was primarily attributable to the raise in the overall research and development activities, including manufacturing expenses related to the lead product candidate, LB-001.
  • G&A Expenses: General and administrative expenses were $2.4M for the three months ended December 31, 2018, contrast to $1.0M for the same period last year.  The raise was primarily related to operating costs as a result of the Company’s transition from a private company to a public company, including legal, accounting and insurance expenses.

For the full year 2018, net loss attributable to ordinary stockholders was $17.6M, or $3.04 per share, contrast to $5.8M, or $5.54 per share, for 2017.

  • R&D Expenses: R&D expenses were $11.1M for 2018, contrast to $3.6M for 2017.  The raise was primarily attributable to the raise in the overall research and development activities, including manufacturing expenses related to the lead product candidate, LB-001.
  • G&A Expenses: General and administrative expenses were $6.9M for 2018, contrast to $2.3M for 2017.  The raise was primarily related to raised operating costs as a result of the Company’s transition from a private company to a public company, including legal, accounting and insurance expenses.

The stock price is trading upbeat from its 200 days moving average with 31.10% and up from 50 days moving average with 11.14%.  (LOGC) is recorded at 1.15 and the relative strength index of the stock stands 57.06. The average true range of the stock is observed at 1.15 and the relative strength index of the stock is recorded at 57.06.

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