Impel NeuroPharma Inc. (NASDAQ: IMPL) stock declined by 0.79% at the last close. Impel NeuroPharma is a commercial-stage pharmaceutical firm focused on discovering innovative medicines for people suffering from illness with significant unmet medical needs, with a major emphasis on central nervous system ailments.
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IMPL stock’ Past Development
On Nov 15, 2021, Impel announced its financial results for the third quarter of 2021. Given below are the highlights:
- In the third quarter of 2021, R&D expenses were $5.9 million, compared to $6.1 million in the third quarter of 2020. The drop in R&D investment was mostly due to lower clinical costs for Trudhesa as the Phase 3 study came to an end.
- SG&A expenses were $16.3 million in the third quarter of 2021, compared to $2.9 million in the third quarter of 2020. The rise in SG&A was primarily attributable to increased spending to support commercial and marketing preparations for the Trudhesa launch.
- Impel recorded a net loss of $25.0 million in Q3 of 2021, whereas the net loss was $9.2 million in the third quarter of 2020.
- In the third quarter of 2021, GAAP Net Loss per Share was $1.24 per share, compared to $15.56 in the third quarter of 2020.
- In the third quarter of 2021, non-GAAP Net Loss per Share was $1.23, compared to $0.49 in the third quarter of 2020.
- The company had $111.3 million in cash and cash equivalents as of September 30, 2021.
Adrian Adams, Chairman and CEO of Impel NeuroPharma commented that,
The third quarter was genuinely transformative for Impel, with the licensing and timely release of Trudhesa. Since their commercial release in early October, they’ve been ecstatic with the early uptake and prescription trends they’ve seen in the market. They are convinced that Impel’s improved balance sheet will give them the funds they need to maintain the successful commercialization of Trudhesa given the recent follow-on equity offering. It will also aid in the development of INP105 for the cure of agitation and violence in people with autism.