Appili Therapeutics Inc. (OTCMKTS:APLIF) (TSX:APLI) Stock Falls 6% In a Week: Company Reports Q3 Earnings

Appili Therapeutics Inc. (OTCMKTS:APLIF) (TSX: APLI) is down 6% in a week. The company has announced its fiscal Q3 2022 financial and operational results for the quarter ending December 31, 2021.

Market Stats

On Monday, APLIF stock ended flat at $0.0927 with more than 2.3k shares, compared to its average volume of 91K shares. The stock moved within a range of $0.0927 – 0.0927 after opening trading at $0.0927.

Earnings Recap

CEO Armand Balboni stated that over the past few months, the company had made considerable progress in enhancing partnerships to expedite and expand diversified portfolio and expand the scope of commercial collaboration with Saptalis to deliver the company’s near-market antibiotic candidate to the market. Armand added that a lot should be done to protect communities from emerging healthcare threats, and they are proud of their accomplishments in Q3 2022.

For the nine months ending December 31, 2021, the company had a net loss of $21.7 million or $0.33 per share compared to $9.3 million or $0.16 per share for the period ending December  31, 2020. The widening of net loss as a result of R&D costs increase of $13.4 million, financing costs increase of $0.37 million and business development costs increase of $0.25. so in the coming weeks, investors should keep an eye on APLIF.

Key Quote

“Over the past few months, we made meaningful progress fortifying partnerships to accelerate and expand our diversified portfolio, including expanding the scope of our commercial partnership with Saptalis to bring our near-market antibiotic product to global markets, and kickstarting an exciting new chapter on our path to become a global biotechnology company and leader in the fight against infectious diseases,” said Armand Balboni, M.D., Ph.D., Chief Executive Officer of Appili Therapeutics. “There is still a lot of work to be done to better protect society from emerging healthcare threats, and that’s why I’m incredibly proud of all that we have accomplished this quarter to enhance our portfolio of critical infectious disease treatments and address unmet needs in healthcare.”

Traders Corner

APLIF stock is trading below the 20-Day and 50-Day Moving averages of $0.0985 and $0.0946 respectively. Moreover, the stock is trading below the 100-Day moving average of $0.2972.