Aptinyx Stock Plunged 70% after Clinical Trial Failure

Stock performance

Today, Aptinyx (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) 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.

Aptinyx Stock Plunged 70% after Clinical Trial Failure

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.