Shares of Chiasma, Inc. [NASDAQ: CHMA] surged 46.48% during the trading session of Wednesday. Chiasma has disclosed the financial results for the Q1 completed March 31, 2021, and also presented a business update. The firm has also provided business updates. The firm disclosed that its net revenue reached $1.9 million for the sales of MYCAPSSA in the Q1 of 2021.
Furthermore, the SG&A expenses for the Q1 of 2021 stood out at $15.7 million while the R&D expenses for the firm for the Q1 of 2021 reached $4.2 million as compared to the $8.1 million for the Q1 of 2021. The firm has reported the net loss for the Q1 of 2021 remained ($30.5) million, or ($0.49) per basic share. While the net loss for the same quarter in the earlier year stood at ($15.4) million, or ($0.36) per basic share.
Shares of CHMA surged 41.90% as it gained +1.19 at the time of writing on Wednesday. The firm has reported the price of $4.03 per share on the trading session of Wednesday. In the past 52-week trading session, the firm’s share went up 57.40% from its 52-weeks low and went down -43.74% from its 52-week of high range. The market cap of firm reached $165.91 million at the time of writing.
Additionally, the firm disclosed its cash position in 2021. Chiasma completed the Q1 2021 with cash, cash equivalents, and marketable securities of $115.0 million, as compared with $135.4 million as of December 31, 2020. Moreover, CHMA revealed it has inked a conclusive merger accord for the buying of the firm by Amryt Pharma plc.