U.S. markets closed

Prometheus Biosciences, Inc. (RXDX)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
16.82+0.02 (+0.12%)
At close: 4:00PM EDT
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Bearishpattern detected
Commodity Channel Index

Commodity Channel Index

Previous Close16.80
Open16.76
Bid16.50 x 800
Ask21.58 x 800
Day's Range16.66 - 17.69
52 Week Range16.11 - 30.62
Volume30,842
Avg. Volume234,824
Market Cap651.847M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est32.25
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
Research that delivers an independent perspective, consistent methodology and actionable insight
Related Research
    View more
    • Prometheus Biosciences to Present at 2021 RBC Capital Markets Global Healthcare Conference
      GlobeNewswire

      Prometheus Biosciences to Present at 2021 RBC Capital Markets Global Healthcare Conference

      SAN DIEGO, May 14, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (Nasdaq: RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced that Mark McKenna, President and CEO, will participate virtually in a fireside chat during the 2021 RBC Capital Markets Global Healthcare Conference on Wednesday, May 19, 2021 at 10:55 a.m. ET. A live and archived webcast of the virtual fireside chat will be available via the Events section of the Prometheus Biosciences website. About Prometheus Biosciences Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company’s precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world’s largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is headquartered in San Diego, CA. Contacts:Noel KurdiVP Investor Relations and Communications(646) 241-4400nkurdi@prometheusbiosciences.com Media contact:Juniper PointAmy Conrad(858) 914-1962media@prometheusbiosciences.com

    • Prometheus Biosciences Reports First Quarter 2021 Financial Results and Provides a Corporate Update
      GlobeNewswire

      Prometheus Biosciences Reports First Quarter 2021 Financial Results and Provides a Corporate Update

      -PRA023, an anti-TL1A mAb, on track to initiate Phase 2 study for Ulcerative Colitis and Phase 2a study for Crohn’s Disease in 3Q 2021- -Launched Prometheus Enroll360™, a global patient recruitment platform for accelerated patient enrollment in future biomarker-guided clinical trials- -Successful completion of oversubscribed $218.5 million initial public offering- SAN DIEGO, May 13, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (Nasdaq: RXDX), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today reported financial results for the quarter ended March 31, 2021 and highlighted recent corporate progress. “2021 is shaping up to be a transformational year for Prometheus with the successful completion of our IPO and planned advancement of our lead program, PRA023, into a Phase 2 Ulcerative Colitis (UC) trial and a Phase 2a Crohn’s Disease (CD) trial in the third quarter,” said Mark McKenna, President and CEO of Prometheus. “This will be the first trial in the IBD space that will utilize a precision medicine approach with a novel mechanism of action designed to address both inflammation and fibrosis, which we believe is important to drive clinically meaningful outcomes for patients.” First Quarter 2021 and Recent Corporate Highlights Launched Prometheus Enroll360™ to accelerate patient recruitment. Prometheus’ Enroll360™ is a global patient recruitment platform that is designed to accelerate development timelines by improving the efficiency of patient identification and increasing the rate of enrollment for its biomarker-guided clinical trials. Prometheus is building a global network of trial-ready sites where over 5,000 patients will be molecularly profiled and clinically characterized to determine their eligibility for Prometheus clinical trials. The company plans to utilize Enroll360™ in Prometheus’ companion diagnostic-paired clinical trials for PRA023 as well as future programs. Expanded precision medicine pipeline with new programs for IBD PR1100 targets a pro-inflammatory cytokine receptor associated with several auto-immune diseases, with multiple Crohn’s disease-associated SNPs identified in the gene locus of this target, and other members of this signaling pathwayPR1800 targets a chemo-attractant factor which contributes to the local accumulation of a defined inflammatory effector cell population in the GI tractPR2100 targets a cytokine implicated in a range of inflammatory and fibrotic diseases. In IBD specifically, this cytokine has been implicated to contribute to non-response to anti-TNF therapies Strengthened leadership and Board of Directors. Prometheus appointed commercial veteran Mark Stenhouse as Chief Operating Officer, Chris Doughty as Chief Business Officer, and Nori Ebersole as Chief People Officer to the Company and appointed experienced biotech leaders Helen C. Adams, CPA, Judith Swain, MD, and Mary Szela to its Board of Directors. Completed initial public offering. On March 16, 2021, the company completed its IPO issuing 11,500,000 shares of common stock, which included the full exercise by the underwriters of their option to purchase 1,500,000 additional shares, at $19.00 per share resulting in gross proceeds of $218.5 million, before deducting underwriting discounts and commissions and other offering expenses. Upcoming Milestones and Events Initiation of Phase 2 UC trial and Phase 2a CD trial of PRA023 expected in 3Q 2021R&D day planned for 3Q 2021 to discuss TL1A mechanism and PRA023 Phase 2 study designsFinal Phase 1a trial results of PRA023 expected in 4Q 2021 First Quarter 2021 Financial Results Cash and Cash Equivalents. As of March 31, 2021, Prometheus Biosciences had cash and cash equivalents of $311.2 million, compared to $54.2 million at the end of 2020. We received net proceeds of $199.8 million from the sale of our common stock in our IPO, and net proceeds of $73.7 million from the sale of shares of our Series D-2 convertible preferred stock. Collaboration Revenue. Revenue was $0.8 million for the three months ended March 31, 2021 compared to $0.2 million for the three months ended March 31, 2020 due to additional revenue generated from Prometheus’ partnership with Dr. Falk Pharma. Research and Development (R&D) Expenses. Research and development expenses were $7.8 million for the three months ended March 31, 2021 compared to $4.3 million for the three months ended March 31, 2020. The increase of $3.5 million for the three months ended March 31, 2021 compared to the three months ended March 31, 2020 was primarily driven by a $3.0 million increase in expenses related to research and development expenses for our product candidates and a $0.5 million increase in expenses related to personnel costs due to increased headcount to support increased development activities. General and Administrative (G&A) Expenses. General and administrative expenses were $5.2 million for the three months ended March 31, 2021 compared to $2.4 million for the three months ended March 31, 2020. The increase of $2.8 million for the three months ended March 31, 2021 compared to the three months ended March 31, 2020 was primarily driven by one-time transaction costs related to our IPO of $1.8 million with the remainder due to increases in corporate personnel costs due to the expansion of our executive team. About PRA023 PRA023 is an IgG1 humanized monoclonal antibody (mAb) that has been shown to block tumor necrosis factor (TNF)-like ligand 1A (TL1A). PRA023 binds both soluble and membrane-associated human TL1A with high affinity and specificity and has the potential to substantially improve outcomes for moderate-to-severe IBD patients predisposed to increased TL1A expression. Prometheus is developing PRA023 for the treatment of Ulcerative Colitis (UC) and Crohn’s Disease (CD) and initiated a Phase 1a clinical trial in normal healthy volunteers in December 2020. The Company is also developing a genetic-based companion diagnostic to identify patients who are predisposed to increased expression of TL1A and therefore potentially more likely to respond to PRA023. About Prometheus Biosciences Prometheus Biosciences, Inc. is a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company’s precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world’s largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is headquartered in San Diego, CA. Forward Looking Statements Prometheus cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. Such forward-looking statements include, but are not limited to statements regarding: the timing of commencement of Prometheus’ Phase 2 clinical trial in UC and its Phase 2a clinical trial in CD; Prometheus’ Enroll360 program and the company’s ability to accelerate enrollment in its planned and other future clinical trials; and the timing of Prometheus obtaining the final study results from its Phase 1a clinical trial of PRA023. The inclusion of forward-looking statements should not be regarded as a representation by Prometheus that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: Prometheus’ approach to the discovery and development of precision medicines based on Prometheus360 is unproven; potential delays in the commencement, enrollment and completion of clinical trials and preclinical studies; Prometheus’ dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; Prometheus’ ability to develop companion diagnostics for our therapeutic product candidates; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; Prometheus may not realize any benefits from our current and any future collaborations; regulatory developments in the United States and foreign countries; Prometheus’ ability to obtain and maintain intellectual property protection for our product candidates and maintain our rights under intellectual property licenses; Prometheus’ ability to maintain undisrupted business operations due to the COVID-19 pandemic, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain; and other risks described in the company’s prior press releases and filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in Prometheus’ most recent quarterly report on Form 10-Q and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Prometheus undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Prometheus Biosciences, Inc.Condensed Consolidated Statements of Operations(unaudited)(in thousands, except share and per share data) Three Months Ended31-Mar 2021 2020 Collaboration revenue$760 $228 Operating expenses: Research and development 7,758 4,265 General and administrative 5,222 2,387 Total operating expenses 12,980 6,652 Loss from operations (12,220) (6,424)Other income (expense), net (1,725) (530)Loss from continued operations (13,945) (6,954)Loss from discontinued operations — (6,174)Net loss$(13,945) $(13,128)Net loss per share, basic and diluted Continued operations $(1.67) $(5.06)Discontinued operations $— $(4.50)Net loss per share, basic and diluted$(1.67) $(9.56)Weighted average common shares outstanding - basic and diluted 8,338,892 1,373,050 Prometheus Biosciences, Inc.Condensed Consolidated Balance Sheets (unaudited)(in thousands) March 31,2021 December 31,2020Assets Cash, cash equivalents$311,231 $54,201 Other current assets 7,389 3,255 Total current assets 318,620 57,456 Other assets 1,381 2,177 Total assets$320,001 $59,633 Liabilities and Stockholders' Equity Current liabilities$8,787 $15,255 Long-term liabilities 11,015 15,896 Total liabilities 19,802 31,151 Convertible preferred stock — 126,023 Total stockholders' equity 300,199 (97,541)Total liabilities and stockholders' equity$320,001 $59,633 Contacts:Noel KurdiVP Investor Relations and Communications(646) 241-4400nkurdi@prometheusbiosciences.com Media contact:Juniper PointAmy Conrad(858) 914-1962media@prometheusbiosciences.com

    • Buy These 2 Stocks Before They Jump 80%, Say Analysts
      TipRanks

      Buy These 2 Stocks Before They Jump 80%, Say Analysts

      Markets are back at record highs, resuming a year-to-date climb that was temporarily interrupted from mid-February through the first week of March. A series of interrelated factors have worked together to push stock values back up. First, the economy is reopening. This started last fall, but was slowed by a wave of corona infections during the winter. The rapidly expanding vaccination program has people confident now, and it looks like the US economy is headed for its highest growth rate in several decades. Second, and added to that confidence, consumers are sitting on cash; there are the $1,400 stimulus checks that went out with the COVID-relief bill last month, but also, spending activity in 2020 was so low that household savings are at record high levels. The Biden Administration is also talking about a new infrastructure bill it wants to push through Congress, bringing up the prospect of trillions more in Federal spending. And finally, the Federal Reserve has signaled that it has no intention of pulling back on its long-standing easy-money policies. The result: investors are ready to spend, and stocks are rising. The gains in the stock market are also underpinned by a flood of positive economic data. The key data point, the one that’s been getting the headlines, is the monthly jobs number – and the recently released March figures showed 916,000 new jobs added last month. That was almost half more than had been expected, and came with upward revisions to January and February that totaled 156,000. Those gains have the Street’s analysts looking for stocks that are poised to grow with the broader market. Here are two such stock calls; the analysts see them growing about 80% in the year ahead, and recommend buying in now before the price jumps. Golden Nugget Online Gaming (GNOG) Few industries drip money quite as copiously as online gaming. The internet versions of traditional casino games are highly popular, and a successful online casino is a potential gold mine for investors. Golden Nugget Online Gaming is the largest online casino site operating in New Jersey, and has spread its operations to an additional nine states. The company went public through a SPAC merger back in December, and has been trading on the NASDAQ since then. Being new to the public markets, GNOG hasn’t got a long record of open financial disclosures – but the recent 4Q20 earnings report, the company’s first since completing the SPAC transaction, shows reason for optimism. At the top line, the company had quarterly revenues of $23 million and full year 2020 revenues of $91.1 million; management increased its guidance for FY2021 to the range of $130 million to $145 million, or up 51% at the midpoint from last year’s results. So, Golden Nugget has a clear path forward. That’s a good thing. Yet, the stock is down ~40% since the SPAC merger completed. One analyst, however, thinks this lower stock price could offer new investors an opportunity to get into GNOG on the cheap. Jefferies analyst David Katz initiated coverage of GNOG with a Buy rating, and his $28 price target implies a robust 85% upside for the next 12 months. (To watch Katz’s track record, click here) “The magnitude and productivity prospects of the iGaming market have not been fully appreciated by the Street, in our view, and GNOG's positioning and product strength have been proven in NJ. GNOG and digital gaming – iGaming, specifically – require long-term vision in general…. The focus on iGaming as a priority is positioned for the next growth chapter of digital gaming. We expect that as seasoned management continues to execute over time as it has in 2020, the Street's recognition of the merits of pure-play iGaming will become more evident,” Katz explained. Golden Nugget has slipped under most analysts’ radar; the stock’s Moderate Buy consensus is based on just two recent ratings. With shares trading at $15.10, the $26 average price target suggests room for a 72% upside. (See GNOG stock analysis on TipRanks) Prometheus Biosciences (RXDX) The next stock we’re looking at is Prometheus Biosciences, an early-stage clinical research company focused on using precision medicines to target GI and immune-mediated conditions. Specifically, Prometheus is working on new treatments for Crohn's Disease and Colitis (also called Inflammatory Bowel Disease, or IBD). The company’s pipeline includes three drug candidates, one of which, PRA023, is in Phase 1 trial, while the other are in preclinical phases. The clinical trial on PRA023 started in December of last year, after receiving the IND acceptance notice from the FDA. Early in March, the company announced that it had commenced dosing patients in the multiple ascending dose (MAD) portion of the Phase 1a clinical study. The current study is ongoing to ‘determine the safety, tolerability, pharmacokinetics, and pharmacodynamics of PRA023 in normal healthy volunteers.’ The other big news for Prometheus in March was the company’s IPO. RXDX entered the public markets on March 12, trading on the NASDAQ. The IPO put 11.5 million shares of common stock on the market, and closed its first day trading at $25.29. This was well above the $19 initial price. The gross proceeds from the offering exceeded $218 million. Prometheus’ approach – using a precision medicine in a select group of patients – has impressed Leerink's Thomas Smith. The analyst initiated coverage of RXDX with an Outperform rating and $34 price target. This figure indicates room for ~80% upside over the course of the next year. (To watch Smith’s track record, click here) “A precision medicine strategy has the opportunity to demonstrate superior results in a prescreened population that could translate to accelerated development timelines and increased use with identified patients. Other fields of medicine, most notably oncology, have adopted precision medicine as the central strategy for new drug development. With no precision medicines currently available for IBD, we see considerable excitement for new therapeutics that are rationally designed based on genetic profiling, and we view RXDX as uniquely positioned to drive this strategy,” Smith opined. All in all, there are two reviews on file for Prometheus and both are to Buy, making the consensus view a unanimous Moderate Buy. Shares in RXDX are currently priced at $18.70, while the $32.25 average target suggests 71% growth from that level on the one-year time horizon. (See RXDX stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.