STOCKS TELEGRAPH

Author: Asim Kamal

  • Here is why Pinterest Inc. (PINS) stock was hammered in the after-hours on Thursday?

    Pinterest Inc. (PINS) shares declined 19.07% in after-hours on Thursday, July 29, 2021, and closed the daily trading at $58.30 per share. in the regular trading session on Thursday, PINS stock lost 6.01%. PINS shares have risen 188.74% over the last 12 months, and they have moved down 0.92% in the past week. Over the past three months, the stock has gained 5.62%, while over the past six months, it has shed 5.15%. PINS has a current market of $43.37 billion and its outstanding shares stood at 628.59 million.

    Let’s have a look at its recent news and developments.

    PINS financial results announcement

    On July 29, 2021, Pinterest, Inc (PINS) released its financial results for the second quarter ended June 30, 2021.

    Q2 2021 financial highlights

    • Pinterest, Inc reported a revenue of $613 million in Q2 2021 compared to $272.5 million in Q2 2020.
    • GAAP net income was $69 million for Q2 2021 compared to $38.35 million in Q2 2020.
    • In Q2 2021, Adjusted EBITDA was $178 million compared to $34 million in Q2 2020.

    Q3 2021 financial outlook

    • PINS is expecting that Q3 revenue will grow in the low-40% range year over year.
    • The company is expecting that Q3 operating expenses will grow modestly
    • MAUs have declined approximately 7% and global MAUs have grown approximately 5% year over year*.

    PINS new Creator Tool

    On July 27, 2021, Pinterest (PINS) unveiled a new tool that lets multimedia content creators make their Idea Pins shoppable and earn money from affiliate programs.

    Idea Pins to coming to more countries

    On June 30, 2021, Pinterest, Inc announced that it is expanding Idea Pins, its multi-page video Pin format, to all creators to many other countries such as India, Indonesia, Spain, Italy, Ireland, New Zealand, Brazil, Mexico, Argentina, Chile, Columbia, Peru, Japan, and Sweden. This new access and capability will empower anyone with a business account in these countries to create inspiring content and closer interaction with their audiences, building more engaged communities directly on Pinterest.

    PINS Global Expansion & Shopping List feature

    On June 7, 2021, Pinterest revealed a new Shopping List feature and an upcoming online pop-up-style event, along with the global expansion of shopping to more regions, to get more shoppers on its website.

    Shopping List launches in the U.S. and the U.K. first, with Australia, Canada, France and Germany to follow later this year.

    Conclusion

    The recent financial results were announced yesterday but the Pinterest stock went down after the company reported that the number of active users is declining and the Q3 financial outlook seems gloomy as well.

  • Why Intec Pharma Ltd (NTEC) stock surged on Wednesday?

    Intec Pharma Ltd (NTEC) shares soared 19.89% in after-hours on Wednesday, July 28, 2021, and closed the daily trading at $10.97 per share. Earlier in the regular trading hours, NTEC’s stock gained 1.10%. NTEC shares have fallen 74.09% over the last 12 months, and they have moved down 36.81% in the past week. Over the past three months, the stock has lost 49.39%, while over the past six months, it has declined 46.18%.

    Let’s see what’s going on recently with NTEC?

    NTEC $30 Million Private Placement

    On July 26, 2021, Intec Parent, Inc which is a wholly-owned subsidiary of NTEC Stock, entered into a securities purchase agreement with a single, healthcare-focused institutional investor to raise $30 million in a private placement.

    The private placement is being consummated to satisfy one of the closing conditions of the previously announced reverse merger with Decoy Biosystems, Inc.

    Filing of NTEC 2020 Annual Report

    On March 16, 2021, Intec Pharma Ltd filed its annual report on Form 10-K for the year ended December 31, 2020, with the U.S. Securities and Exchange Commission.

    NTEC facing a legal fight over its merger with Decoy Biosystems

    Intec Pharma Ltd is facing legal investigations about its merger with Decoy Biosystems.

    WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Intec Pharma Ltd in connection with the proposed acquisition of the company by Decoy Biosystems, Inc.

    Background of NTEC Stock Merger Agreement with Decoy Biosystems

    On March 15, 2021, NTEC stock entered into a definitive agreement with Decoy Biosystems, Inc.

    The combined company will advance its immunotherapy platform to battle a variety of tumour types and chronic viral infections.

    The former Decoy stockholders are expected to own approximately 75% of the combined company, and the Intec shareholders are expected to own approximately 25% of the combined company, upon completion of the merger.

     Jeffrey Meckler will be the Chief Executive Officer and Michael Newman will be the Chief Scientific Officer of the new combined company. Dr Roger Pomerantz is expected to be the chairman of the new company. The new combined company will consist of eight members, including five members of Intec Pharma’s current board and three members of Decoy’s current board.

    NTEC Stock Research collaboration with GW Pharma

    On December 9, 2020, Intec Pharma Ltd entered into a feasibility agreement with GW Research Limited (GW), London, the U.K. to explore using the Accordion Pill platform for the undisclosed research program.

    Additional details of the agreement were not disclosed.

    Conclusion

    Intec Pharma Ltd facing some legal issues but we think that the merger will go ahead and at the moment we had no reason behind its exceptional performance on Wednesday.

  • Why Genius Brands International Inc. (GNUS) stock performed well on Wednesday?

    Genius Brands International Inc. (GNUS) shares gained 1.83% in after-hours on Wednesday, July 28, 2021, and closed the daily trading at $1.67. in the regular trading session on Wednesday, GNUS’s stock gained 2.50%. GNUS shares have fallen 5.20% over the last 12 months, and they have moved down 4.09% in the past week. Over the past three months, the stock has lost 11.83%, while over the past six months, it has shed 46.41%.

    Let’s have a brief look at its recent news and developments.

    Exceptional viewership for GNUS “STAN LEE’S SUPERHERO KINDERGARTEN”

    Since premiering on April 23, 2021, on Kartoon Channel!, Genius Brands International, Inc.’s  Stan Lee’s Superhero Kindergarten, starring and executive produced by Arnold Schwarzenegger, continues to build its viewership reaching a new milestone of over 40 million views on July 13, 2021.

    GNUS made new appointments

    On July 06, 2021, Genius Brands International (GNUS), appointed Kerry Phelan to the newly created position of Executive Vice President & General Manager of Global Franchise Management.

    Phelan will report to both Andy Heyward, Chairman & CEO, and Harold Chizick, President of Global Content Sales, Marketing & Consumer Products.

    Earlier on June 21, 2021, GNUS appointed Dr. Cynthia Turner-Graham to the Company’s Board of Directors.

    Christmas in July Debut on Kartoon Channel

    On June 30, 2021, Genius Brands International, Inc (GNUS), premiered “Christmas in July” on Kartoon Channel, presented by Chuck E. Cheese and featuring a bonanza of holiday-themed series, specials, and movies, starting from July 2 – July 11.

    GNUS Induction on Russell 3000® Index

    Genius Brands International, Inc joined the broad-market Russell 3000® Index after the 2021 Russell indexes annual reconstitution, on June 28, 2021, according to a preliminary list of additions posted on June 4, 2021.

    Participation in the recent conference

    Genius Brands International, Inc recently participated at the 2021 Gabelli Funds 13th Annual Broadcasting & Entertainment Symposium which was held on June 3, 2021.

    The company was presented by GNUS CEO Andy Heyward.

    Global master toy partner for Rainbow Rangers

    On June 01, 2021, Genius Brands International, Inc and Never Wrong Toys jointly announced the appointment of Never Wrong Toys as global master toy partner for the animated series, Rainbow Rangers, available for streaming now on Kartoon Channel!.

    From July onwards, Rainbow Rangers will be available on different streaming applications and channels in most parts of the world.

    Conclusion

    Genius Brands International is a big company and it continuously has new attractive development which keeps its stock price stable in the stock market.

  • Why NanoVibronix Inc. (NAOV) stock is surging for the last week?

    NanoVibronix Inc. (NAOV) shares surged 17.80% in after-hours on Wednesday, July 28, 2021, and closed the daily trading at $2.25 per share. Earlier in the regular trading session, NAOV’s stock gained 29.93%. NAOV shares have risen 23.23% over the last 12 months, and they have moved up by 138.90% in the past week. Over the past three months, the stock has gained 80.19%, while over the past six months, it has shed 61.86%.

    Let’s see is there any reason behind its massive surge on Wednesday?

    NAOV Shipped First Order of PainShield Plus

    On July 26, 2021, NanoVibronix, Inc (NAOV) fulfilled the first order of its next-generation pain management device, PainShield Plus®, and expects to recognize revenue for the sale in the third quarter of 2021.

    PainShield Plus covers two times the surface area for pain therapy and is sold at a higher gross margin compared to the original PainShield® MD.

    PainShield Plus utilizes ultrasound therapy for the treatment of pain and various soft tissue injuries either directly over joints or orthopedic hardware. The device is an effective solution for avoiding opioid treatments and equips patients to receive therapy independently in the comfort and safety of their own homes.

    Positive findings of NAOV UroShield

    On July 22, 2021, The Journal of Medical & Surgical Urology published an article with overwhelmingly positive findings from a study of patients that used its UroShield in real-world settings.

    The Chief Executive Officer of NAOV, Brian Murphy said that the independent study is further proof of the effectiveness and applicability of the company’s UroShield device in reducing the incidence of urinary tract infections and pain and discomfort caused by urinary catheters.

    23 patients participated in the study and used UroShield for a minimum period of 12 weeks. patients reported a significant decrease in the number of UTIs and antibiotic treatment, had fewer catheter blockages and catheter changes and the pain was reduced significantly by the end of the study.

    NAOV Business update

    On June 03, 2021, NanoVibronix, Inc (NAOV)  provided an update on its business.

    • The company launched the next generation of its PainShield device at the end of 2020, which extends the functionality of its core product and broadens the opportunities for application. Delivery of the first devices is expected to be in Q2 2021.
    • The company also expanded and replaced its original distribution agreement with Ultra Pain Products, to extend the term and increase minimum purchase requirements. UPPI is the exclusive distributor of PainShield® and PainShield® Plus™ devices to the Durable Medical Equipment (“DME”) distribution sector of the healthcare market in the United States.
    • The company is establishing manufacturing capabilities both in the United States and Israel that will run parallel to its existing manufacturing operations located in Asia.

    Conclusion

    The NAOV stock is surging because of recent positive developments and we expect it to surge more in the coming days.

  • Here is why PayPal Holdings Inc. (PYPL) stock plummeted in the after-hours on Wednesday?

    PayPal Holdings Inc. (PYPL) shares declined 5.29% in after-hours on Wednesday, July 28, 2021, and closed the trading at $286.00 per share. Earlier in the regular trading session of Wednesday, PYPL’s stock gained 0.50%. PYPL shares have risen 71.32% over the last 12 months, and they have moved up 0.07% in the past week. Over the past three months, the stock has gained 11.39%, while over the past six months, it has shed 31.33%. The company has a current market of $349.18 billion and its outstanding shares stood at 1.17 billion.

    Let’s have a look at its recent news and developments.

    PYPL Financial results announcement

    On July 28, 2021, PayPal Holdings, Inc (PYPL) announced its second-quarter 2021 results for the period ended June 30, 2021.

    Q2 2021 Financial highlights

    • PYPL reported net revenue of $6.24 billion in Q2 2021 compared to $5.26 billion in Q2 2020.
    • Net income was $1.362 billion in Q2 2021 compared to $1.26 billion in Q2 2020.
    • In Q2 2021, GAAP, earning per share was $1.00 compared to $1.29 in Q2 2020.
    • As of June 30, 2021, the company had cash, cash equivalents, and investments totalled $19.4 billion.

    PYPL Q3 2021 Financial outlook

    For Q3 2021, PYPL is expecting

    • Revenue to be in the range of $6.15 billion to $6.25 billion.
    • GAAP earnings per diluted share to be $0.68 per share.

    PYPL partnership with ADL to fight extremism

    On July 26, 2021, PayPal Holdings Inc announced a new partnership with ADL (the Anti-Defamation League) to fight extremism and hate through the financial industry and across at-risk communities. This is the latest effort by PayPal in combating racism, hate and extremism across its platforms and the industry.

    PayPal and ADL have launched a research effort to address the urgent need to understand how extremist and hate movements throughout the U.S. are attempting to leverage financial platforms to fund criminal activity.

    PayPal Australia challenge Afterpay 

    PayPal Holdings Australia attempted to edge past main industry rival Afterpay in Australia by introducing a new “buy now, pay later” offering without late payment fees.

    BNPL option in Australia, known as “PayPal Pay in 4”, was launched last month, has lowered its minimum purchase value to A$30 ($22.44) from A$50.

    Merchants, who are clients of PayPal, will get the payment upfront at the time of transaction. Meanwhile, customers will repay installments.

    Conclusion

    The recent financial results announcement was the reason behind its plummeting on Wednesday. Though PYPL beat the earnings estimates but its Q3 2021 financial guidance was unable to attract investors.

  • Why did Intrusion Inc. (INTZ) stock skyrocket on Tuesday?

    Intrusion Inc. (INTZ) shares declined 4.67% in after-hours on Tuesday, July 27, 2021, and closed the daily trading at $4.90 per share. Earlier in the regular trading session of Tuesday, INTZ’s stock gained 52.07%. INTZ shares have fallen 44.19% over the last 12 months, and they have moved up by 20.66% in the past week. Over the past three months, the stock has lost 71.51%, while over the past six months, it has declined 78.57%. The company has a current market of $96.68 million and its outstanding shares stood at 17.54 million.

    Let’s see is there any recent news behind its massive surge on Tuesday?

    INTZ preliminary Q2 2021 financial figures

    On July 20, 2021, INTRUSION, Inc. (INTZ) announced preliminary revenue for the second quarter of 2021, which is expected to be within the range of $1.9 million and $2.0 million.

    Upcoming Financial results announcement

    INTRUSION will announce its full second-quarter results on Thursday, August 12, and host a conference call with Anthony LeVecchio, Chairman of the Board, and Messrs. Byrd and Head participating at 4:00 p.m. Central Time.

    INTZ arranging more funding

    INTRUSION also said that additional capital may be required to achieve profitability. Recently, INTZ has engaged an investment banking firm to evaluate various funding sources, and also potentially constructive longer-term strategic options that might help INTRUSION grow, achieve its operating objectives, and maximize shareholder value.

    INTZ Organizational Changes

    INTZ also made some changes to its management and the Board of Directors of INTRUSION has asked CFO, Franklin Byrd, and CTO, Joe Head–who is also an INTRUSION Co-Founder–to assume operating responsibilities together on behalf of the Company immediately. The changes were made after Jack B. Blount, previously President, Chief Executive Officer and a Board member left the company.

    INTZ inauguration on Russell Microcap® Index

    INTRUSION, Inc(INTZ) joined the Russell Microcap® Index on June 25, 2021, according to a preliminary list of additions published by FTSE Russell on June 4, 2021.

    Intrusion facing several lawsuits

    Intrusion has been dragged into court by many reputable law firms in America and filed several lawsuits against the company.

    Rosen Law Firm filed a lawsuit against INTZ and reminded purchasers of the securities of Intrusion Inc between January 13, 2021, and April 13, 2021.

    According to the lawsuit, the Company made false and misleading statements to the market. Intrusion’s Shield product was not an innovative new offering, but rather the repackaging of existing technology.

    Conclusion

    Well, as of this writing, there is no recent news that could justify the INTZ surge and later its decline. We are unable to predict how it will perform in the coming days.

  • Why NanoViricides Inc. (NNVC) stock could not keep its positive momentum in the after-hours on Tuesday?

    NanoViricides Inc. (NNVC) shares lost 4.47% in after-hours on Tuesday, July 27, 2021, and closed the daily trading at $4.70 per share.  Earlier in the regular trading session on Tuesday, NNVC’s stock gained 17.42%. NNVC shares have fallen 19.21% over the last 12 months, and they have moved up 18.27% in the past week. Over the past three months, the stock has gained 15.22%, while over the past six months, it has declined 17.99%.

    Let’s see what are the recent news about NNVC?

    NNVC Nanomachines concept

    A few viruses NNVC is working toward attacking include Human Immunodeficiency Virus (HIV), shingles, and influenza. To stop these and other viruses from infecting and duplicating in humans, NanoViricides, Inc. developed what they call a nanoviricide. It is designed to block the virus from spreading within the body, thus eliminating the infection.

    The idea is that the drug NanoViricides, Inc. developed would contain a nanoviricide (or nanomachine) that attracts the targeted virus. The nanomachine then attacks, traps and destroys the virus before it can replicate and invade the body further.

    If this technology works as expected, it will change how the medical community approaches every virus on the planet, including the coronavirus and future viruses not yet discovered.

    Positive results of NNVC two COVID-19 clinical drug candidates

    On March 9, 2021, NanoViricides, Inc (NNVC) reported the strong results of its two COVID-19 clinical drug candidates in an animal model of coronavirus infection.

    The Company is preparing a pre-IND application encompassing its two clinical drug candidates for the treatment of COVID-19 infected patients. Of these, NV-CoV-2 is the Company’s broad-spectrum anti-coronavirus drug candidate based on its nanoviricides® platform that is expected to be capable of attacking most, if not all, SARS-CoV-2 variants and other coronaviruses. In addition, the Company is also developing NV-CoV-2-R that combines (1) the power of NV-CoV-2 to attack and potentially dismantle the virus particles outside cells, and (2) the power of remdesivir to block further production of virus particles inside cells. Blocking the complete lifecycle of the virus in this manner could provide a cure for the viral disease.

    NNVC filed its Quarterly Report

    On May 17, 2021, NanoViricides, Inc filed its quarterly report for its third quarter of the financial year 2021 with the Securities and Exchange Commission.

    • The Company had no revenues for the quarter that ended on March 31, 2021.
    • NNVC had approximately $23.23 million of current assets (cash, cash equivalents, and prepaid expenses), and current cash liabilities of approximately $0.87 million on March 31, 2021.
    • At the end of the quarter, the Company had no debt, and Stockholder’s equity was approximately $31.89 million.
    • The company used $5.99 million in cash for operating activities during the quarter.

    Conclusion

    Well, as of this writing, there is no recent news or development for NNVC gains and losses on Tuesday. The company had few positive developments in the recent past which can keep its share price stable in the coming days.

  • Here is why Oragenics Inc. (OGEN) stock performed well on Tuesday?

    Oragenics Inc. (OGEN) shares declined 5.57% in after-hours on Tuesday, July 27, 2021, and closed the Tuesday trading at $0.79 per share. In the regular trading session of Tuesday, OGEN’s stock gained 34.14%. OGEN shares have fallen 28.92% over the last 12 months, and they have moved up 35.88% in the past week. Over the past three months, the stock has gained 3.56%, while over the past six months, it has reduced 20.11%. The company has a current market of $99.95 million and its outstanding shares stood at 115.64 million.

    Let’s see what are the latest news about OGEN?

    OGEN Licensing Agreement with the National Research Council of Canada

    On July 27, 2021, Oragenics, Inc (OGEN) entered into a licensing agreement with the National Research Council of Canada (NRC) that will enable Oragenics to pursue the rapid development of next-generation vaccines against the SARS-CoV-2 virus and its variants.

    The NRC technologies, in combination with the U.S. National Institutes of Health (NIH) elements found in the Company’s Terra CoV-2 vaccine, provide Oragenics with a platform that can generate cell lines for high-yield production of spike protein antigens for existing and emerging variants of concern in a very short span of time.

    OGEN adjourned the annual meeting of shareholders

    Oragenics, Inc. (OGEN) annual meeting of shareholders, on June 30, 2021, at 9:00 a.m. was convened and adjourned, without any business being conducted, due to lack of the required quorum.

    OGEN Letter to Shareholders

    On May 18, 2021, the executive Chairman of Oragenics Inc, Frederick W. Telling, Ph.D. issued a letter to the company’s shareholders.

    He said that the company is working quickly to develop the Terra CoV-2 vaccine candidate to address SARS-CoV-2 and its variants, as well as a new class of antibiotics to address the daunting problem of antibiotic resistance.

    OCGN Overhaul in Management and Board of Directors

    On May 2, 2021, Dr. Alan Joslyn resigned as Chief Executive Officer, President, and director of Oragenics, Inc (OGEN).

    Mr. Sullivan, the OGEN current Chief Financial Officer, will serve as the Company’s interim principal executive officer to address the vacancy created by Dr. Joslyn’s resignation.

    Also, Dr. Frederick Telling transitioned from Chairman of the Board to the newly established position of Executive Chairman, effective immediately, during the interim period before a new CEO is hired.

    OGEN CoV-2 S-2P demonstrated protective immunity in mice

    In February 2021, Oragenics, Inc released the data from the National Institutes of Health (NIH) that confirmed the stabilized prefusion spike protein CoV-2 S-2P induced protective immunity in mice challenged with mouse-adapted SARS-CoV-2 virus.

    OGEN Material transfer agreement with Biodextris 

    On March 9, 2021, Oragenics (OGEN) entered into a material transfer agreement with Biodextris Inc. for the use of three intranasal mucosal adjuvants in the Company’s Terra CoV-2 vaccine against COVID-19.

    Conclusion

    OGEN stock surged on Tuesday after it announced a recent agreement with the National Research Council of Canada. There was no reason behind its loss in the after-hours and we expect it to return towards positivity on  Wednesday.

  • Here is why U.S. Well Services Inc. (USWS) stock turnaround in the after-hours on Tuesday?

    The U.S. Well Services Inc. (USWS) shares gained 13.66% in after-hours on Tuesday, July 27, 2021, and closed the daily trading at $1.04. Earlier in the regular trading session of Tuesday, USWS’s stock lost 4.73%. The stock volume remained 2.61 million shares, which was lower than the average daily volume of 3.59 million shares within the past 50 days. USWS shares have risen 116.31% over the last 12 months, and they have moved down 6.14% in the past week. Over the past three months, the stock has gained 21.98%, while over the past six months, it has declined 10.29.

    Let’s have a look at its recent news and developments.

    USWS upcoming Electric Fracturing Work

    On July 27, 2021, U.S. Well Services (USWS) announced to deploy an all-electric Clean Fleet® to work for Pioneer Natural Resources Company. The electric fleet will support Pioneer’s Midland Basin completion operations for the fourth quarter of 2021.

    At this announcement, the President and CEO of USWS Joel Broussard said that the U.S. Well Services is thrilled to be working with Pioneer on this field trial and Clean Fleet technology will enable Pioneer to reduce completion costs while also lowering the emissions intensity of its operations.

    Investor update about USWS Business Strategy and Recent Transactions

    On July 6, 2021, U.S. Well Services released a new company presentation to update investors on the Company’s business and financial strategy, as well as to provide details on recent transactions.

    USWS recent strategic transactions

    • USWS issued $125.5 million of 16% Convertible Senior Secured notes and received $86.5 million of gross proceeds from the sale of Notes.
    • Settled outstanding litigation with Smart Sand following entry of final judgment that awarded Smart Sand approximately $52 million.

    USWS Business and Financial Strategy

    • USWS can build up to four new electric fleets and purchase critical components for two additional fleets, under terms of the amendment to the term loan credit agreement.
    • Resolution of Smart Sand litigation allows USWS to continue selling legacy diesel frac assets and other non-core equipment.
    • USWS expects to convert all outstanding Series B l Over 60% of Series A exchanged for Notes.

    USWS Commitment to Purchase 120 Electric Motors 

    on June 30, 2021, U.S. Well Services committed to purchasing 60 Power Cubes from AmeriMex Motor & Controls, LLC which is a subsidiary of Industrial Service Solutions. Each patented Power Cube contains two 3,000 HHP electric motors, two variable frequency drives, a power transformer and other components that combine to create a self-contained power centre. The Company expects to begin taking delivery of the Power Cubes in the third quarter of 2021.

    Important updates to execute strategic plans

    On June 28, 2021, U.S. Well Services issued $125.5 million of 16.0% Convertible Senior Secured PIK Notes due June 2026 in a private placement to institutional investors. The Company sold $64.0 million of Notes convertible into the U.S. Well Services Class A Common Stock and $22.5 million of Notes convertible into licenses to ProFrac Manufacturing, LLC. The above-mentioned transactions are done to execute its previously announced strategic plan to grow and become a fully electric hydraulic fracturing services provider.

    Conclusion

    The recent USWS announcement about upcoming electric fracturing work was the reason behind its turnaround in the after-hours on Tuesday. It can continue to surge in the coming days as well.

  • Here is why MorphoSys AG (MOR) facing headwinds in the pre-market on Tuesday?

    MorphoSys AG (MOR) shares lost 11.64% in Tuesday’s pre-market and were trading at $13.12, as of this writing. On Monday, in the after-hours, MOR’s stock lost 8.22%. MOR Stock shares have fallen 54.64% over the last 12 months, and they have moved down 9.23% in the past week. Over the past three months, the stock has lost 37.02%, while over the past six months, it has shed 50.15%.

    Let’s discuss its recent developments.

    MOR Stock 2021 financial guidance update

    On July 26, 2021 / MorphoSys AG provided an update of its financial guidance for 2021 after preliminary completion of the latest evaluation of MorphoSys’ half year 2021 financial performance.

    • MorphoSys now expects revenues in the range of € 155 to € 180 million compared to the previous outlook of € 150 to € 200 million, provided on March 15, 2021.
    • Total operating expenses are expected in the range of € 435 to € 465 million (previously: € 355 to € 385 million).
    • Net of Current Portion is reduced from € 547.6 million (balance as of March 31, 2021) to € 445.9 million (balance as of June 30, 2021).

    MOR Stock Upcoming financial results announcement

    MorphoSys AG (MOR) will announce its results for the second quarter and first half of 2021 on July 28, 2021, at 10:00 pm CEST (4:00 pm EDT).

    MorphoSys’ Management Board will host a conference call and webcast on July 29, 2021, at 2:00 pm CEST (8:00 am EDT).

    Expansion of MOR Stock share capital

    On July 16, 2021, MOR stock announced that its Management Board passed a resolution to increase the share capital of MorphoSys AG by issuing 1,337,552 new ordinary shares from the Authorized Capital 2021-II.

    The new ordinary shares represent 3.9% of the registered share capital of MorphoSys following the capital increase.

    Expiration of the Waiting Period for Acquisition of Constellation Pharmaceuticals

    On July 1, 2021, MorphoSys AG (MOR) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended for its tender offer for Constellation Pharmaceuticals, Inc.

    Background of Acquisition of Constellation Pharmaceuticals

    On June 16, 2021, MorphoSys AG (MOR) commenced a cash tender offer to purchase all outstanding shares of Constellation Pharmaceuticals, Inc for $34.00 per share, net to the seller in cash, without interest, and subject to any applicable withholding of taxes. The tender offer is being made according to the previously announced merger agreement, dated June 2, 2021, between MorphoSys and Constellation.

    On June 2, 2021, MorphoSys AG and Constellation Pharmaceuticals entered into a definitive agreement whereby MOR Stock will acquire Constellation for $34.00 per share in cash, which represents a total equity value of $1.7 billion.

    MOR and Incyte received positive CHMP Opinion

    On June 25, 2021, MorphoSys AG (MOR) and Incyte received a positive opinion from the European Medicines Agency’s Committee for conditional marketing authorization of tafasitamab in combination with lenalidomide, followed by tafasitamab monotherapy.

    Conclusion

    The recent 2021 financial outlook update is the reason behind MOR stock early morning bashing. The company has reduced the revenue figures and increased the expenses range for FY 2021 which took its stock towards the negativity.