Aditxt, Inc. (NASDAQ: ADTX) is a life science company working on technologies to improve the immune system health. The company is developing immune reprogramming and monitoring solutions to achieve its goal.
Its proprietary Apoptotic DNA Immunotherapy™ (ADI™) immune reprogramming technology retrains the immune system to induce tolerance. It focuses on preventing transplant organ rejection, allergies, and autoimmune diseases.
Aditxt has also developed Addict Score™, an immune monitoring technology that provides a personalized immune system profile.
Aditxt Recent Stock Performance
On Tuesday, December 12, 2023, ADTC stock jumped over 83%. It was one of the top performers that day. Shares reached a high of $.947, the high point since October 19, 2023. At the height of its rally, the stock was over 195% higher than its lowest point year-to-date.
However, as many analysts suspected, the rally was short-lived. During early trading on December 13, 2023, the stock lost 19.3760% of its value and is presently valued at $4.9001 per share. The December 12 rally came after Aditxt announced it had agreed to purchase Evofem Biosciences.
Aditxt Acquires Evofem Biosciences
Aditxt has agreed to acquire Evofem Biosciences via debt and stock. While ADTX stock soared, Evofem Biosciences fell nearly 58%, bringing its market cap to $921K. During early trading on December 13, 2023, Evofem Biosciences (EVFM) had lost another 26.3158% of its value, and its market cap is now $751.11K
Evofem’s core product is Phexxi, which is marketed to women. It is a hormone-free prescription birth control that comes as a vaginal gel to prevent pregnancy. While there is a significant market opportunity, Evofem has performed below par. In its Q3 2023 earnings report, Evofem reported $5.1 million in revenue, a massive drop from the $6.4 million reported in Q3 2022.
Its net loss in the quarter amounted to $3.6 million, and its restricted cash was just $400K, compared to the $4.8 million in restricted and unrestricted cash in the same quarter last year.
Aditxt will take over Evofem’s secured debt as part of the agreement. It will pay the debtors $5 million by the end of 2023. Additionally, it will provide a $3 million loan to Evofem. Aditxt also agreed to issue 610K of ADTX common stock for Evofem common stock.
ADTX Stock Forecast
One Wall Street analyst has given ADTX stock a buy rating. The analyst projects a high of $61 for the stock, representing a +1093.7% upside. While that might seem high, ADTX stock’s highest price in the past 12 months is $76.40, while the lowest is $3.27. Consequently, the price target is within its 52-week range.
Should You Buy ADTX Stock
ADTX stock has had a dismal performance in 2023. The stock is down 92.18% year-to-date. In the current December 13, 2023 trading session, the stock has lost 19.3760% of its value. The stock is also one of the most dilutive on Wall Street. Shares have risen from 7.3k in July 2021 to 441.85k presently.
In 2023, the company sold shares several times. It sold $10 million worth of shares to fund its working capital in September. In November, it sold 264K shares of common stock.
The company is also hemorrhaging money every quarter. In Q3 2023, it reported a net loss of $9.7 million. Over the past five quarters, it has burned through $37 million worth of cash.
Based on these figures, the analysts correctly predicted the price pump would be short-lived. However, if it manages to restructure Evofem and turn it into a profit-making venture, its fortunes could turn around.
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