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AZRX AzurRx BioPharma

AzurRx BioPharma, Inc. engages in the research and development of non-systemic biologics for the treatment of patients with gastrointestinal disorders. It focuses on MS1819-SD, and B-Lactamase program products. The company was founded on January 30, 2014 and is headquartered in Brooklyn, NY.

Company profile

Ticker
AZRX
Exchange
Website
CEO
James E. Sapirstein
Employees
Incorporated
Location
Fiscal year end
Former names
BioPharma d'Azur, Inc.
SEC CIK

AZRX stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

16 Nov 20
28 Feb 21
31 Dec 21
Quarter (USD)
Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 11.37M 11.37M 11.37M 11.37M 11.37M 11.37M
Cash burn (monthly) (positive/no burn) (positive/no burn) 1.77M 1.62M 898.94K 790.44K
Cash used (since last report) n/a n/a 8.84M 8.09M 4.49M 3.94M
Cash remaining n/a n/a 2.53M 3.27M 6.88M 7.42M
Runway (months of cash) n/a n/a 1.4 2.0 7.7 9.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Jan 21 Borkowski Edward Options Common stock, par value $0.0001 per share Grant Aquire A No No 0.97 41,237 40K 41,237
4 Jan 21 Casamento Charles J Options Common stock, par value $0.0001 per share Grant Aquire A No No 0.97 41,237 40K 41,237
4 Jan 21 Riddell Alastair Options Common stock, par value $0.0001 per share Grant Aquire A No No 0.97 41,237 40K 41,237
4 Jan 21 Schramm Vern Lee Options Common stock, par value $0.0001 per share Grant Aquire A No No 0.97 41,237 40K 41,237
4 Jan 21 Gregory Oakes Options Common stock, par value $0.0001 per share Grant Aquire A No No 0.97 41,237 40K 41,237
3.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 18 18
Opened positions 4 5 -20.0%
Closed positions 4 4
Increased positions 5 4 +25.0%
Reduced positions 2 2
13F shares
Current Prev Q Change
Total value 1.79M 1.11M +61.1%
Total shares 1.85M 1.56M +18.4%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Vanguard 685.92K $665K -6.3%
BK Bank Of New York Mellon 430.84K $418K +100.1%
Renaissance Technologies 186.2K $181K NEW
Parsons Capital Management 168.2K $163K -5.6%
Waldron Private Wealth 69.84K $67K 0.0%
WFC Wells Fargo & Co. 56.04K $54K +0.0%
USB U.S. Bancorp. 51.02K $49K 0.0%
Geode Capital Management 43.09K $41K 0.0%
Beacon Pointe Advisors 39.36K $38K 0.0%
Traynor Capital Management 32K $31K +28.0%
Largest transactions
Shares Bought/sold Change
BK Bank Of New York Mellon 430.84K +215.52K +100.1%
Renaissance Technologies 186.2K +186.2K NEW
Pensionmark Financial 0 -80K EXIT
Vanguard 685.92K -46.21K -6.3%
Ardsley Advisory Partners 0 -30K EXIT
HBW Advisory Services 25.08K +25.08K NEW
Parsons Capital Management 168.2K -10K -5.6%
NTRS Northern Trust 27.5K +8.02K +41.2%
Tower Research Capital 7.96K +7.96K NEW
Traynor Capital Management 32K +7K +28.0%

Financial report summary

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Competition
VivusAbbvieAllergan
Risks
  • We are a clinical stage biopharmaceutical company and have a limited operating history upon which to base an investment decision.
  • Our product candidates are at an early stage of development and may not be successfully developed or commercialized.
  • Any product candidates we advance into and through clinical development are subject to extensive regulation, which can be costly and time consuming, cause unanticipated delays or prevent the receipt of the required approvals to commercialize our product candidates.
  • If we encounter difficulties enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • Because the results of preclinical studies and early clinical trials are not necessarily predictive of future results, any product candidate we advance into clinical trials may not have favorable results in later clinical trials, if any, or receive regulatory approval.
  • Any product candidate we advance into and through clinical trials may cause unacceptable adverse events or have other properties that may delay or prevent their regulatory approval or commercialization or limit their commercial potential.
  • Delays in the commencement or completion of our clinical trials could result in increased costs and delay our ability to pursue regulatory approval and commercialization of our product candidates.
  • If we encounter difficulties enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • We face risks related to health epidemics and outbreaks, including the coronavirus, which could significantly disrupt our clinical trials.
  • We may be required to suspend, repeat or terminate our clinical trials if they are not conducted in accordance with regulatory requirements, the results are negative or inconclusive or the trials are not well designed.
  • The approval processes of regulatory authorities are lengthy, time consuming, expensive and inherently unpredictable. If we are unable to obtain approval for our product candidates from applicable regulatory authorities, we will not be able to market and sell those product candidates in those countries or regions and our business will be substantially harmed.
  • Our product candidates may cause undesirable side effects or have other properties that could delay or prevent their regulatory approval, limit the commercial profile of the approved labeling, or result in significant negative consequences following marketing approval, if any.
  • If we are unable to execute our sales and marketing strategy for our products and are unable to gain market acceptance, we may be unable to generate sufficient revenue to sustain our business.
  • Because we license some of our product candidates from third parties, any dispute with our licensors or non-performance by us or by our licensors may adversely affect our ability to develop and commercialize the applicable product candidates.
  • We may form or seek strategic alliances or enter into additional licensing arrangements in the future, and we may not realize the benefits of such alliances or licensing arrangements.
  • We rely completely on third parties to manufacture our preclinical and clinical pharmaceutical supplies and expect to continue to rely on third parties to produce commercial supplies of any approved product candidate, and our dependence on third party suppliers could adversely impact our business.
  • We rely on third parties to conduct our clinical trials. If these third parties do not meet our deadlines or otherwise conduct the trials as required, our clinical development programs could be delayed or unsuccessful and we may not be able to obtain regulatory approval for or commercialize our product candidates when expected or at all.
  • We will face intense competition and may not be able to compete successfully.
  • Our success will depend upon intellectual property, proprietary technologies and regulatory market exclusivity periods, and we may be unable to protect our intellectual property.
  • We intend to rely on market exclusivity periods that may not be or remain available to us.
  • If we are unable to establish sales and marketing capabilities or fail to enter into agreements with third parties to market, distribute and sell any products we may successfully develop, we may not be able to effectively market and sell any such products and generate product revenue.
  • If any product candidate that we successfully develop does not achieve broad market acceptance among physicians, patients, healthcare payors and the medical community, the revenues that it generates from their sales will be limited.
  • We may incur substantial product liability or indemnification claims relating to the use of our product candidates.
  • If we use biological and hazardous materials in a manner that causes injury, we could be liable for damages.
  • We have benefited from certain non-reimbursable subsidies from the French government that if terminated or reduced may restrict our ability to successfully develop, manufacture and commercialize our drug candidates.
  • Due to the significant resources required for the development of our drug candidates, we must prioritize development of certain drug candidates and/or certain disease indications. We may expend our limited resources on candidates or indications that do not yield a successful product and fail to capitalize on drug candidates or indications that may be more profitable or for which there is a greater likelihood of success.
  • If we fail to attract and retain key management and clinical development personnel, we may be unable to successfully develop or commercialize our product candidates.
  • We use biological materials and may use hazardous materials, and any claims relating to improper handling, storage or disposal of these materials could be time consuming or costly.
  • If we or our partners are sued for infringing intellectual property rights of third parties, it will be costly and time consuming, and an unfavorable outcome in that litigation would have a material adverse effect on our business.
  • Healthcare reform and restrictions on reimbursements may limit our financial returns.
  • Changes in healthcare law and implementing regulations, including government restrictions on pricing and reimbursement, as well as healthcare policy and other healthcare payor cost-containment initiatives, may negatively impact our ability to generate revenues.
  • If we or any of our independent contractors, consultants, collaborators, manufacturers, vendors or service providers fail to comply with healthcare laws and regulations, we or they could be subject to enforcement actions, which could result in penalties and affect our ability to develop, market and sell our product candidates and may harm our reputation.
  • We will need to grow the size of our organization, and we may experience difficulties in managing this growth.
  • We are subject to U.S. and foreign anti-corruption and anti-money laundering laws with respect to our operations and non-compliance with such laws can subject us to criminal and/or civil liability and harm our business.
  • Our employees and independent contractors, including principal investigators, consultants, commercial collaborators, service providers and other vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements, which could have an adverse effect on our results of operations.
  • Our Ability to Compete May Decline If We Do Not Adequately Protect Our Proprietary Rights.
  • We are a clinical stage biopharmaceutical company with a history of operating losses that are expected to continue and we are unable to predict the extent of future losses, whether we will generate significant revenues or whether we will achieve or sustain profitability.
  • We have certain senior convertible promissory notes outstanding, in the total principal amount of approximately $6.9 million plus accrued interest thereon. If we are unable to pay the senior convertible promissory notes when due, or otherwise restructure the senior convertible promissory notes, we will be in default.
  • We will need substantial additional funding and may be unable to raise capital when needed, which would force us to delay, curtail or eliminate one or more of our research and development programs or commercialization efforts.
  • Raising additional funds by issuing securities or through licensing or lending arrangements may cause dilution to our existing stockholders, restrict our operations or require us to relinquish proprietary rights.
  • Our debt agreements contain restrictions that limit our flexibility in operating our business.
  • If we fail to comply with the continued listing requirements of the Nasdaq Capital Market, our Common Stock may be delisted and the price of our Common Stock and our ability to access the capital markets could be negatively impacted.
  • The market price of our Common Stock may be volatile and may fluctuate in a way that is disproportionate to our operating performance.
  • We have never paid and do not intend to pay cash dividends. As a result, capital appreciation, if any, will be your sole source of gain.
  • Provisions in our restated certificate of incorporation, our restated by-laws and Delaware law might discourage, delay or prevent a change in control of our company or changes in our management and, therefore, depress the trading price of our Common Stock.
  • We are eligible to be treated as an “emerging growth company”, as defined in the JOBS Act, and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our Common Stock less attractive to investors.
  • If securities or industry analysts do not publish research or reports about our business, if they adversely change their recommendations regarding our shares or if our results of operations do not meet their expectations, our share price and trading volume could decline.
Management Discussion
  • ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • You should read the following discussion and analysis in conjunction with our financial statements, including the notes thereto contained in this Annual Report. This discussion contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of a variety of certain factors, including those set forth under “Risk Factors Associated with Our Business” and elsewhere in this Annual Report.
  • This Management’s Discussion and Analysis of Financial Condition and Results of Operations is based on our financial statements, which have been prepared in accordance with generally accepted accounting principles generally accepted in the United States of America (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenue and expense during the reporting period. In our consolidated financial statements, estimates are used for, but not limited to, valuation of financial instruments and intangible assets, fair value of long-lived assets and contingent consideration, deferred taxes and valuation allowance, and the depreciable lives of long-lived assets.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Bad
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Removed: created, dated, director, instituted, remained, response