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Anyone currently looking into stocks that performed strongly over the course of the past month could do well to take a look into the VBL Therapeutics (NASDAQ:VBLT) stock. During that period the stock garnered considerable interest and ended up with gains of as much as 33% amidst heavy interest.
Back on March 14, the company had been in the news after it announced its financial results for the fiscal year that ended on December 31, 2022. The company announced that at the end of the fiscal year, it had restricted bank deposits, cash, short-term bank deposits, and cash equivalents to the tune of $21.1 million. It should be noted that in March this year, the company also received $7.1 million in proceeds from the sale of one of its manufacturing facilities.
In the fiscal year, the company suffered a net loss of $32.3 million, which worked out to $0.42 per basic share. In the previous year, the net losses had been $29.9 million or $0.42 per basic share. The revenues for the fiscal year came in at $0.7 million and which reflected a drop from the revenues of $0.8 million in the previous year.
The drop in revenues had been precipitated owing to the winding down of revenues from the Nanocarrier licensing agreement termination. The total operating expenses for the fiscal year was $33.4 million and that reflected a significant rise from the $21.7 million in operating expenses in the previous year. It may be a good time to keep an eye on the stock at this point.