2Q Included Long COVID-19 Data Announcement and An Increase In Cash. Axeclla reported a loss of $21.3 million or $(0.40) per share, compared with our estimate of $19.4 million or $(0.47) per share. During the quarter, the company raised about $25 million through a direct stock offering, bringing cash and marketable securities to $44.4 million as of June 30. The highlight of the quarter, in our opinion, was the announcement of Phase 2a data in Long COVID-19.Phase 2a Data Was Encouraging. The company recently announced positive data from its Phase 2a trial testing AXA1125 in Long COVID-19. These data showed statistically significant improvements in several measures of physical and mental fatigue. The company reiterated plans to meet with the FDA to discuss the design of the next clinical test during the coming months. Read More >>