Reported Earnings • Nov 15
Third quarter 2024 earnings released: US$2.19 loss per share (vs US$8.70 loss in 3Q 2023) Third quarter 2024 results: US$2.19 loss per share (improved from US$8.70 loss in 3Q 2023). Net loss: US$2.89m (loss narrowed 73% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings. Announcement • Nov 07
Pieris Pharmaceuticals, Inc., Annual General Meeting, Dec 02, 2024 Pieris Pharmaceuticals, Inc., Annual General Meeting, Dec 02, 2024. Reported Earnings • Aug 16
Second quarter 2024 earnings released: US$2.76 loss per share (vs US$3.63 profit in 2Q 2023) Second quarter 2024 results: US$2.76 loss per share (down from US$3.63 profit in 2Q 2023). Net loss: US$3.59m (down 190% from profit in 2Q 2023). Announcement • Jul 25
Palvella Therapeutics, Inc. agreed to acquire Pieris Pharmaceuticals, Inc. (NasdaqCM:PIRS) in a reverse merger transaction. Palvella Therapeutics, Inc. agreed to acquire Pieris Pharmaceuticals, Inc. (NasdaqCM:PIRS) in a reverse merger transaction on July 23, 2024. The provisions for calculating the Exchange Ratio are set forth in the Merger Agreement and assume a valuation for Palvella equal to $95.0 million and a valuation for Pieris equal to $21.0 million. Under the terms of the merger agreement, Pieris will issue shares of Pieris common stock to pre-merger Palvella stockholders as merger consideration in exchange for the cancellation of shares of capital stock of Palvella, and Palvella will become a wholly-owned subsidiary of Pieris. Upon termination of the Merger Agreement under specified circumstances, Pieris may be required to pay Palvella a termination fee of $1.0 million and Palvella may be required to pay Pieris a termination fee of $2.0 million. The transactions contemplated by the merger agreement have been unanimously approved by the boards of directors of both companies. The transaction is subject to approvals by the stockholders of each company, consummation of the Concurrent Financing, the effectiveness of a registration statement to be filed with the SEC to register the shares of Pieris common stock to be issued in connection with the merger, and other customary closing conditions. TD Cowen is serving as lead placement agent and Cantor is serving as a placement agent for Palvella's planned concurrent financing. Christopher S. Miller of Troutman Pepper Hamilton Sanders LLP is serving as legal counsel to Palvella. Cooley LLP is serving as legal counsel to the placement agents. Stifel is serving as the exclusive financial advisor to Pieris and William C. Hicks, Marc D. Mantell and Scott Dunberg of Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. is serving as legal counsel to Pieris. Stifel, Nicolaus & Company, Incorporated acted as fairness opinion provider to Pieris. Computershare Trust Company, National Association acted as transfer agent to Pieris. New Risk • Jul 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 27% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$50m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Minor Risks Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (US$10.5m market cap). Reported Earnings • May 17
First quarter 2024 earnings released: US$3.96 loss per share (vs US$14.15 loss in 1Q 2023) First quarter 2024 results: US$3.96 loss per share (improved from US$14.15 loss in 1Q 2023). Revenue: US$53.0k (down 97% from 1Q 2023). Net loss: US$4.89m (loss narrowed 63% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Announcement • Apr 21
Pieris Pharmaceuticals Approves 1-for-80 Reverse Stock Split to Regain Compliance with the Minimum Bid Price Requirement Pieris Pharmaceuticals, Inc. announced that its board of directors has approved a 1-for-80 reverse stock split of the Company's common stock, par value $0.001, which will be effective at 5:00 pm Eastern Time on April 22, 2024. The Company's common stock will continue to be traded on The Nasdaq Capital Market on a split-adjusted basis beginning on April 23, 2024, under the Company's existing trading symbol ‘PIRS’. The reverse stock split is intended to regain compliance with the minimum bid price requirement of $1.00 per share of the Company's common stock for continued listing on The Nasdaq Capital Market. The new CUSIP number following the reverse stock split will be 720795202. The Company filed a Certificate of Change with the Nevada Secretary of State on April 18, 2024 to effect the reverse split. Reported Earnings • Mar 31
Full year 2023 earnings released: US$0.27 loss per share (vs US$0.45 loss in FY 2022) Full year 2023 results: US$0.27 loss per share (improved from US$0.45 loss in FY 2022). Revenue: US$42.8m (up 65% from FY 2022). Net loss: US$24.5m (loss narrowed 26% from FY 2022). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 17
Third quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2023 results: US$0.11 loss per share. Revenue: US$19.5m (up 264% from 3Q 2022). Net loss: US$10.8m (loss widened 10% from 3Q 2022). Revenue is expected to decline by 81% p.a. on average during the next 3 years, while revenues in the Biotechs industry in the US are expected to grow by 16%. Reported Earnings • Aug 13
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: US$0.045 (up from US$0.14 loss in 2Q 2022). Revenue: US$20.1m (up 442% from 2Q 2022). Net income: US$3.98m (up US$14.3m from 2Q 2022). Profit margin: 20% (up from net loss in 2Q 2022). Revenue exceeded analyst estimates significantly. Earnings per share (EPS) also surpassed analyst estimates. Revenue is expected to decline by 17% during the next year, while revenues in the Biotechs industry in the US are expected to grow by 15%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Announcement • Jul 14
Pieris Pharmaceuticals, Inc. Announces Executive Changes Pieris Pharmaceuticals, Inc. announced on July 13, 2023, Ahmed Mousa, the Senior Vice President, Chief Business Officer, General Counsel & Corporate Secretary of the company, gave notice that he will resign from the company effective September 11, 2023 in order to become chief executive officer of Vicore Pharma Holding AB. Mr. Mousa is expected to serve as a strategic advisor to the Company for a transition period thereafter, subject to a mutual agreement of terms in the near future. Mr. Mousa’s resignation is not a result of any disagreement with the Company or any other entity or on any matter relating to the operations, policies (including accounting or financial policies) or practices of the company. Following Mr. Mousa’s departure, Stephen Yoder, the company’s chief executive officer and President will oversee corporate and business development at the company. New Risk • Jul 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$49m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$49m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$74m net loss in 3 years). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (US$13.6m market cap). New Risk • Jun 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 25% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$49m). Currently unprofitable and not forecast to become profitable over next 3 years (US$74m net loss in 3 years). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (US$21.4m market cap). Major Estimate Revision • May 17
Consensus revenue estimates fall by 31% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$17.4m to US$12.0m. Forecast losses increased from -US$0.64 to -US$0.705 per share. Biotechs industry in the US expected to see average net income decline 85% next year. Consensus price target of US$7.00 unchanged from last update. Share price fell 6.0% to US$0.80 over the past week. Reported Earnings • May 10
First quarter 2023 earnings released: US$0.18 loss per share (vs US$0.069 loss in 1Q 2022) First quarter 2023 results: US$0.18 loss per share (further deteriorated from US$0.069 loss in 1Q 2022). Revenue: US$1.94m (down 82% from 1Q 2022). Net loss: US$13.2m (loss widened 158% from 1Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 18% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Announcement • May 05
Pieris Pharmaceuticals, Inc. Announces Successful Completion of Safety Review for 10 Mg Dose of Phase 2A Trial of Elarekibep (Prs-060/Azd1402) Pieris Pharmaceuticals, Inc. announced the successful safety review of the 10 mg dry powder dose safety cohort from the ongoing multi-center, placebo-controlled phase 2a study of dry powder inhaler-formulated elarekibep (PRS-060/AZD1402). The successful review of the 10 mg dose provides additional data supporting the elarekibep safety profile and enables doses of 10 mg or less to be evaluated in future clinical trials. Elarekibep is an IL-4 receptor alpha inhibitor under development in collaboration with AstraZeneca for the treatment of moderate-to-severe asthma. Pieris previously announced the successful completion of the safety review for the 1 mg and 3 mg doses, triggering the efficacy portion of the study, which is ongoing at the 3 mg dose. Upon completion of the phase 2a study and availability of topline data, which Pieris expects to be reported by mid-2024, the Company will have a co-development option for this program with AstraZeneca. For this safety review, 13 asthma patients, controlled on standard of care (medium dose inhaled corticosteroids with long-acting beta agonists), received elarekibep twice daily over four weeks to establish the safety profile and pharmacokinetics of the dry powder formulation of elarekibep at the 10 mg dose. Following completion of enrollment and observation, AstraZeneca evaluated, compared to placebo, the incidence of adverse events, changes in laboratory markers (immuno-biomarkers, clinical chemistry, and hematology), and forced expiratory volume in one second. Reported Earnings • Mar 31
Full year 2022 earnings released: US$0.45 loss per share (vs US$0.71 loss in FY 2021) Full year 2022 results: US$0.45 loss per share (improved from US$0.71 loss in FY 2021). Revenue: US$25.9m (down 18% from FY 2021). Net loss: US$33.3m (loss narrowed 27% from FY 2021). Products in clinical trials Phase I: 3 Phase II: 1 Revenue is expected to decline by 41% p.a. on average during the next 3 years, while revenues in the Biotechs industry in the US are expected to grow by 13%. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Jan 11
Pieris Pharmaceuticals Announces $5 Million Milestone from Seagen for Initiation of Phase 1 Trial of Cd228 X 4-1Bb Bispecific Molecule (Mabcalin Sgn-Bb228 (Prs-346) Pieris Pharmaceuticals, Inc. announced that the Company has achieved a $5 million milestone from Seagen. The milestone is based on dosing the first patient in a Seagen-sponsored phase 1 study of SGN-BB228 (PRS-346), a novel bispecific antibody-Anticalin molecule (Mabcalin™) that is designed to provide a potent costimulatory bridge between tumor-specific T cells and CD228 expressing tumor cells. The Seagen-sponsored (NCT05571839) open-label phase 1 study is evaluating the safety and tolerability of SGN-BB228 in patients with advanced melanoma and other solid tumors. Secondary endpoints in the study include pharmacokinetics and antitumor activity. This program is one of three ongoing immuno-oncology programs with Seagen and preclinical data were recently presented at the Society for Immunotherapy of Cancer's (SITC) Annual Meeting in Boston. Pieris has an opt-in option to a U.S. co-promotion for one program in the collaboration. Price Target Changed • Nov 16
Price target decreased to US$7.00 Down from US$8.00, the current price target is provided by 1 analyst. New target price is 593% above last closing price of US$1.01. Stock is down 74% over the past year. The company is forecast to post a net loss per share of US$0.47 next year compared to a net loss per share of US$0.71 last year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Independent Director Maya Said was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 03
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: US$0.13 loss per share (improved from US$0.24 loss in 3Q 2021). Revenue: US$5.37m (up 32% from 3Q 2021). Net loss: US$9.74m (loss narrowed 41% from 3Q 2021). Revenue is expected to decline by 17% p.a. on average during the next 3 years, while revenues in the Biotechs industry in the US are expected to grow by 15%. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Aug 11
Consensus revenue estimates fall by 48% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$45.7m to US$23.7m. Forecast losses increased from -US$0.41 to -US$0.47 per share. Biotechs industry in the US expected to see average net income decline 46% next year. Consensus price target down from US$8.00 to US$7.00. Share price fell 9.3% to US$1.56 over the past week. Reported Earnings • Aug 05
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: US$0.14 loss per share (up from US$0.25 loss in 2Q 2021). Revenue: US$3.70m (up 13% from 2Q 2021). Net loss: US$10.3m (loss narrowed 33% from 2Q 2021). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Over the next year, revenue is expected to shrink by 45% compared to a 46% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 13
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: US$0.069 loss per share. Revenue: US$11.0m (down 30% from 1Q 2021). Net loss: US$5.10m (loss widened 22% from 1Q 2021). Revenue exceeded analyst estimates by 23%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Over the next year, revenue is forecast to grow 72%, compared to a 25% growth forecast for the industry in the US. Major Estimate Revision • May 12
Consensus estimates of losses per share improve by 23% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from US$45.2m to US$45.7m. EPS estimate increased from -US$0.53 per share to -US$0.41 per share. Biotechs industry in the US expected to see average net income decline 44% next year. Consensus price target of US$8.00 unchanged from last update. Share price fell 34% to US$1.67 over the past week. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. Independent Director Maya Said was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 03
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: US$0.71 loss per share (down from US$0.68 loss in FY 2020). Revenue: US$31.4m (up 7.1% from FY 2020). Net loss: US$45.7m (loss widened 23% from FY 2020). Revenue exceeded analyst estimates by 23%. Earnings per share (EPS) missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 125%, compared to a 71% growth forecast for the pharmaceuticals industry in the US. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Nov 05
Third quarter 2021 earnings released: US$0.24 loss per share (vs US$0.26 loss in 3Q 2020) The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: US$4.06m (up 38% from 3Q 2020). Net loss: US$16.5m (loss widened 16% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Board Change • Nov 03
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. Independent Director Maya Said was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 08
Second quarter 2021 earnings released: US$0.25 loss per share (vs US$0.095 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: US$3.29m (down 71% from 2Q 2020). Net loss: US$15.5m (loss widened 213% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 05
Consensus revenue estimates increase to US$32.5m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from US$21.8m to US$32.5m. Forecast losses expected to reduce from -US$0.90 to -US$0.78 per share. Biotechs industry in the US expected to see average net income decline 13% next year. Consensus price target of US$8.50 unchanged from last update. Share price rose 9.9% to US$3.76 over the past week. Price Target Changed • Jul 06
Price target increased to US$8.50 Up from US$7.50, the current price target is an average from 3 analysts. New target price is 132% above last closing price of US$3.66. Stock is up 13% over the past year. Announcement • Jun 28
Pieris Pharmaceuticals, Inc.(NasdaqCM:PIRS) dropped from Russell 3000E Growth Index Pieris Pharmaceuticals, Inc.(NasdaqCM:PIRS) dropped from Russell 3000E Growth Index Major Estimate Revision • May 24
Consensus revenue estimates fall to US$22.0m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from US$29.7m to US$22.0m. Forecast losses increased from -US$0.69 to -US$0.90 per share. Biotechs industry in the US expected to see average net income decline 7.2% next year. Consensus price target down from US$9.00 to US$7.50. Share price was steady at US$1.93 over the past week. Price Target Changed • May 20
Price target decreased to US$7.50 Down from US$9.00, the current price target is an average from 2 analysts. New target price is 308% above last closing price of US$1.84. Stock is down 40% over the past year. Reported Earnings • May 18
First quarter 2021 earnings released: US$0.074 loss per share (vs US$0.065 loss in 1Q 2020) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: US$15.6m (up 18% from 1Q 2020). Net loss: US$4.17m (loss widened 16% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 01
Full year 2020 earnings released: US$0.68 loss per share (vs US$0.56 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$29.3m (down 37% from FY 2019). Net loss: US$37.2m (loss widened 32% from FY 2019). Products in clinical trials Phase I: 1 Phase II: 1 Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Mar 09
New 90-day low: US$2.41 The company is down 11% from its price of US$2.70 on 08 December 2020. The American market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$1.60 per share. Is New 90 Day High Low • Feb 11
New 90-day high: US$3.19 The company is up 20% from its price of US$2.65 on 12 November 2020. The American market is up 16% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Biotechs industry, which is up 22% over the same period. Price Target Changed • Jan 30
Price target raised to US$9.00 Up from US$8.00, the current price target is an average from 4 analysts. The new target price is 254% above the current share price of US$2.54. As of last close, the stock is down 31% over the past year. Is New 90 Day High Low • Dec 16
New 90-day high: US$3.13 The company is up 9.0% from its price of US$2.88 on 16 September 2020. The American market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Major Estimate Revision • Nov 11
Analysts lower revenue estimates to US$30.5m The 2020 consensus revenue estimate decreased from US$42.0m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -US$0.48 to -US$0.64 for the same period. The Biotechs industry in the US is expected to see an average net income growth of 6.6% next year. The consensus price target was lowered from US$8.00 to US$7.67. Share price is up 13% to US$2.82 over the past week. Reported Earnings • Nov 07
Third quarter 2020 earnings released: US$0.26 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: US$2.94m (down 81% from 3Q 2019). Net loss: US$14.3m (loss widened 451% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Nov 07
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 80%. Earnings per share (EPS) exceeded analyst estimates by 111%. Over the next year, revenue is expected to shrink by 32% compared to a 309% growth forecast for the Biotechs industry in the US. Is New 90 Day High Low • Sep 22
New 90-day low: US$2.33 The company is down 28% from its price of US$3.22 on 24 June 2020. The American market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.