Relief Therapeutics Holding (OTCMKTS:RLFTF) Stock Extends Fall: Down 30% in a Month
Relief Therapeutics Holding (OTCMKTS:RLFTF) stock was under pressure in the past week as investors booked profit at higher level. The stock has fallen 30% over the past month.
Market Action
On Friday, RLFTF closed down by 1.72% to $0.1425. More than 3.73 million shares have exchanged hands, well above its average volume of 4.62 million shares. The stock opened at $0.1404 and moved in a range of $0.1404 – 0.1478.
Sep 24, 2021 – Relief Reports Half-Year 2021 Results and Provides Corporate Update
Here are the highlights:
The operating loss amounted to CHF 14.5 million with operating expenses of CHF 15.4 million and a one-time gain of CHF 0.9 million following a third-party debt write-off.
The period is marked by a significant growth in operating and administrative expenses. Service expenses of CHF 8.3 million (HY2020: CHF 2.9 million) were mainly driven by development activities for RLF-100 and ACER-001.
Personnel expenses increased to CHF 3.4 million (HY2020: CHF 0.2 million) as the conduct and oversight of development and administrative projects required additional skilled professionals. Legal and administrative services reached CHF 3.2 million (HY2020: CHF 0.4 million), reflecting the company’s need of legal and professional services in relation to its business activities, including the acquisition of APR and AdVita.
Cash used in operating activities has ramped up to CHF 17.7 million from CHF 3.2 million over the same period last year.
Net loss for the period was CHF 14.7 million (HY2020: CHF 8.3 million profit)
Key Quote:
Jack Weinstein, Chief Financial Officer and Treasurer of Relief noted: “Relief remains well funded and, based on current programs, we believe we have sufficient reserves to support multiple clinical programs through key value inflection points. Since the beginning of the year to June 30, we bolstered our balance sheet with CHF 30 million in equity financings. We have also been able to take advantage of the flexibility provided by our additional share listing, giving the company, as of September 24, an available cash position of CHF 40 million.”
