Aptinyx Stock Plunged 70% after Clinical Trial Failure



Stock performance

Today, Aptinyx (APTX)(APTX) is trading at $5.26, which is a ~70.5% decline from yesterday’s closing price of $17.83. Also today, Aptinyx hit a 52-week low of $5.02. The company hit a 52-week high of $32.25 on September 11.

Aptinyx (APTX)(APTX) announced that its phase 2 clinical trial of NYX-2925 didn’t show a statistically significant difference from placebo therapy. It conducted the phase 2 trial of NYX-2925, an investigational NMDA receptor modulator, to evaluate the safety and efficacy of the drug for painful diabetic peripheral neuropathy. To learn more about the results, see Aptinyx’s press release.

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Financials in a nutshell

In the first nine months of 2018, Aptinyx’s (APTX) net revenues grew ~47% year-over-year to $5.5 million from $3.7 million. Aptinyx’s net revenues in the third quarter of 2018 amounted to $943,000, compared to $1.2 million in the same period the prior year. Wall Street analysts expect Aptinyx to generate revenues of $1.0 million and $6.6 million, respectively, in the fourth quarter and full year of 2018.

In the first nine months of 2018, Aptinyx reported net income and EPS of $39.2 million and $2.48, respectively, compared to $24.8 million and $4.82 in the same period the prior year.

Analysts expect Aptinyx’s net income and EPS around $55.85 million and $2.33, respectively, in fiscal 2018.

The iShares Nasdaq Biotechnology ETF (IBB) invests ~0.02% of its total portfolio in Aptinyx.

Analysts’ recommendations

Of the five analysts tracking Aptinyx in January 2019, one recommended a “strong buy” while four recommended a “buy.” On January 16, Aptinyx had a consensus 12-month target price of $35.67.


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