Chris Lau
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Chris Lau in Value Stocks,

Kitov Pharmaceuticals is Fine

Biotech investing requires patience. Shareholders of Kitov Pharmaceuticals (KTOV) appreciate the stock’s underperformance when the market rushes for results.

This impatience is hurting the stock. The $12 million capital raise did not help, either. Still, the company has upcoming catalysts ahead.

Per its PR, Kitov has the following expected upcoming significant milestones:

  • Issuance of KIT-302's clinical trial full study report
  • Completion of six-month stability testing of KIT-302
  • Submission to the FDA of the New Drug Application for KIT-302
  • Initiation of a renal function clinical trial to demonstrate the beneficial effects of KIT-302 on kidney function

In the first half of the year, the company boosted R&D spending by 94%. Its accumulated loss of $3.04 million is not meaningful. Until products launch, Kitov’s cash balance will matter more. The company has around $19 million in cash and equivalents.

More biotech ideas. Free.