NEW YORK, NY / ACCESSWIRE / June 25, 2018 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report on Edge Therapeutics, Inc. (NASDAQ: EDGE), a clinical-stage biotechnology company that develops hospital-based therapies for the management of acute, life-threatening conditions.
On March 28th, the company announced that the Phase 3 NEWTON 2 study of EG-1962 demonstrated a low probability of achieving a statistically significant difference compared to the standard of care in the study's primary endpoint. EDGE decided to discontinue the NEWTON 2 study.
The day before the announcement, EDGE shares were trading at $15.59 and fell to $1.31 per share the next day. The shares are currently trading at $1.16. At March 31, 2018 EDGE had $2.31 per share in cash.
Read about the EDGE effort to maximize shareholder value and the current pipeline READ MORE
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As per management, Edge will assess the next steps for the company but anticipates in the near term reducing the scope of its operations, including the size of its workforce, in order to preserve its cash resources.
The company is also developing EG-1964, as a prophylactic treatment for the management of chronic subdural hematoma to prevent recurrent bleeding on the surface of the brain; and EG-1965, for the prevention of postoperative atrial fibrillation.
Get the data from the Q1 earnings report and more about the company outlook READ MORE
Copy and paste to your browser may be required to view the report - https://tradersnewssource.com/edge-therapeutics/
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SOURCE: Traders News Source
