Innovative drug delivery firm Acura Pharmaceuticals Inc (OTCMKTS:ACUR) was trading in a range on Monday despite the fact that the company had announced its financial results for the third quarter yesterday.
Market Reaction
On Monday, ACUR stock fell 0.46% to $0.5550 with more than 116.54K shares, compared to its average volume of 6.95K shares. The stock has moved within a range of $0.5550 – 0.5850 after opening trade at $0.5551.
Earnings Recap
In addition to the third quarter results, the company also announced the results for the nine month period that had ended on September 30, 2021. Acura announced that in the third quarter it brought in revenues of $270,000 but on the other hand it suffered an operating loss to the tune of as much as $531,000. The net losses for the quarter came in at $262000and that worked out to loss of $0 per diluted share of Acura.
It was a significantly worse performance in terms of revenues generated when compared to the prior year period. At the time, the company had managed to generate revenues of as much as $410,000.
However, at the same time, the operating losses had been higher at $565000 and net losses stood at $678,000, which worked out to losses of $0.02 per diluted share in Acura. While the company’s revenues dropped significantly, it should be noted that the net losses and operating losses had also been reduced considerably on a year on year basis.
