The stock markets in the U.S. operate across the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite. ARCA Biopharma Inc. ABIO at https://www.webull.com/quote/amex-ibio is a medical and drug development center with the objective to reduce healthcare costs and at the same time increase the improvement in the health of the patients.
They develop various medicines related to heart diseases. The company has its headquarters in Westminster city. The two other subsidiaries of this company are Hyseq Diagnostics Inc and ARCA biopharma Colorado Inc.
S&P 500, Dow Jones Industrial Average and Nasdaq Composite are the three major stock markets that operate in the U.S. The indexes (unit of measurement) for the stock market are given priority and are followed by the investors to know the performance. The ARCA Biopharma Inc. (ABIO) is a major market under the Nasdaq Composite.
In the last few years, the ABIO has gained a lot of importance in the stock market. In the first week of May 2020, it had released its Q1-2020 financial report. There were three main goals in this plan due to the current situation of the COVID-19. Those were; to protect the health of their employees, to continue the operations of the various medicines related to the heart diseases and requirement of funds from various sources.
These funds were required for the production of medicines related to heart diseases and their effect on the COVID-19. The crunch in the stock market during the COVID-19 had a severe impact on the company’s production of various medicines.
The expenses incurred for the Research & Development (R&D) for the ABIO was $0.4 million in the first quarter of 2020 (first three months date ended March 2020) as compared to $0.7 million in the same quarter of last year. The decline in the costs related to consultation and other service charges was the main reason for this drop in the R&D expenses.
The operating expenses for the company also declined to $1.3 million in the first quarter of 2020 (first three months date ended March 2020) as compared to $1.8 million for the last year. The total net loss in the first quarter of 2020 (first three months date ended March 2020) stood at $1.3 million as compared to $1.7 million for the last financial year.
At the same time, the ABIO stock market showed a decline due to the effect of COVID-19. The overall share price in the market declined. On the 1st of May, 2020 the value of the shares was $3.53 as compared to $9.11 on the same date of the previous year. The maximum value of the shares for the last 52 weeks, on average was, $8.88 as compared to the minimum of $2.21 as on 22nd May 2020. You can also check ins stock at https://www.webull.com/quote/amex-ins .