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The latest update is out from Satellos Bioscience ( (TSE:MSCL) ).
Satellos Bioscience has completed a one-for-12 consolidation of its common shares, reducing the number of outstanding shares from about 185.5 million to roughly 15.5 million, as part of its effort to meet the share price and other requirements for a proposed listing on the Nasdaq under the ticker symbol “MSLE.” Management says the consolidation is aimed at boosting the company’s market visibility, liquidity and access to a broader investor base, while maintaining shareholders’ proportional ownership and voting power, and adjusting outstanding options and pre-funded warrants accordingly, a move that could strengthen Satellos’s capital markets profile as it advances its clinical-stage muscle disease pipeline.
The most recent analyst rating on (TSE:MSCL) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Satellos Bioscience stock, see the TSE:MSCL Stock Forecast page.
Spark’s Take on TSE:MSCL Stock
According to Spark, TipRanks’ AI Analyst, TSE:MSCL is a Neutral.
The score is held down primarily by weak financial performance (pre-revenue, large losses, and heavy cash burn with ongoing funding risk). Technicals are supportive due to a clear uptrend, but overbought signals temper that strength. Valuation is also constrained by negative earnings and no dividend support.
To see Spark’s full report on TSE:MSCL stock, click here.
More about Satellos Bioscience
Satellos Bioscience Inc. is a Toronto-based, clinical-stage biotechnology company focused on developing small-molecule therapies that restore natural muscle repair and regeneration in degenerative muscle diseases. Its lead candidate, SAT-3247, is an orally administered AAK1-targeting drug in clinical development as a potential disease-modifying treatment for Duchenne muscular dystrophy, supported by the company’s proprietary MyoReGenX discovery platform to expand into additional muscle diseases and injury indications.
Average Trading Volume: 257,230
Technical Sentiment Signal: Buy
Current Market Cap: C$231.9M
Learn more about MSCL stock on TipRanks’ Stock Analysis page.