Stock in the Spotlight: Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC)

Dorothy Owen

I am Dorothy Owen and I give “Seeking Review” an insight into the most recent news hitting the “Healthcare” sector in Wall Street.

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

Address: 454 Cottrill Lane, Saint Louis, MO 63108, USA
Phone: (+1) 314-388-9712
Email: dorothy.owen@seekingreview.com
Dorothy Owen

BERKELEY HEIGHTS, N.J., August 18, 2019 – Shares of Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) showed the bullish trend with a higher momentum of 1.20% to $0.47. The company traded total volume of 222.229K shares as contrast to its average volume of 582.91K shares. The company has a market value of $8.01M and about 17.22M shares outstanding.

Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP) reported financial results for the first quarter 2019 with net loss applicable to common shareholders for the three months ended March 31, 2019 was $1.90M.  As of March 31, 2019 cash and cash equivalents totaled $17.90M.

Financial Highlights:

As of March 31, 2019, cash and cash equivalents totaled $17.90M contrast to $17.50M as of December 31, 2018. The increase of $0.40M in the three months was mainly because of net proceeds from a Common Stock Sales Agreement with H.C. Wainwright of $4.1m, offset by net cash used in operating activities of $3.70M. The Sales Agreement was concluded in the first quarter 2019.

Research and development expenses were $1.00M for the three months ended March 31, 2019 contrast to $0.80M for the same period in 2018.

General and administrative expenses were $1.20M for the three months ended March 31, 2019 contrast to $1.40M for the same period in 2018.

Other income, net for the three months ended March 31, 2019 was $0.10M contrast to $0.60M for the same period of the previous year.

The United Kingdom R&D and tax credit was $0.30M for the three months ended March 31, 2019 contrast to $0.20M for the same period in 2018.

Net loss for the three months ended March 31, 2019 was $1.80M contrast to $1.30M for the same period in 2018. With the projected cash-sparing benefits accruing from the MD Anderson alliance the Company believes that cash and marketable securities, which were about $17.90M as of March 31, 2019, will be sufficient to finance operations through the end of 2020.

ROE was recorded as -46.90% while beta factor was 2.91. The stock, as of recent close, has shown the weekly downbeat performance of -13.87% which was maintained at -23.12% in this year.

Dorothy Owen

Dorothy Owen

I am Dorothy Owen and I give “Seeking Review” an insight into the most recent news hitting the “Healthcare” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 454 Cottrill Lane, Saint Louis, MO 63108, USA Phone: (+1) 314-388-9712 Email: dorothy.owen@seekingreview.com