Last Friday, XenoPort, Inc. (NASDAQ:XNPT)
started to gain on the market. The stock soared 2.42% on its price to close at
$6.34 per share and its volume exceeded 525 thousand shares traded.
The reason for the climb appeared to be the recent announcement by the company about its new prodrug. After the announcement was published, the investors got excited and XNPT started to climb up. However, nobody knows if it's going to be a bullish trend or just a high momentum.
The latest quarterly results of XNPT are scheduled to be presented in ten days and the analysts expect losses to be reported. Though, the actual results are up to be seen.
XenoPort is a biopharmaceutical company focused on developing and commercializing a portfolio of proprietary product candidates, which utilizes the body's natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs.
According to the historical data, the company has traded much higher during the last 12 months. Last September XNPT traded at $25.00 per share, but since then the price has moved down. This February the traded volume reached over 30 million shares and provided for profits. While presently the price is going up again, though at a lower level.
This month, XNPT made a few more optimistic announcements, though the stock price has fallen down over 26% and it was pointed among the top 10 largest percentage decreases on NASDAQ.
In its fist quarter report for this year XenoPort states that: "Due to our significant research and development expenditures and the lack of regulatory agency approvals to sell products, we have generated cumulative operating losses", though it claims that XNPT's "existing capital resources, together with interest thereon, will be sufficient to meet our projected operating requirements into the first quarter of 2012".
The company has generated a higher net income, though it reported that if any additional financing is needed, the company may: "terminate or delay clinical trials for one or more of our product candidates".
Presently, XNPT relies on its novel prodrug to be approved, though no one can be certain for the future results yet.