STOCKS TELEGRAPH

Author: Asim Kamal

  • What’s going on with Onconova Therapeutics Inc. (ONTX) stock?

    Onconova Therapeutics Inc. (ONTX) is going up in the pre-market on March 18, 2021, as of this writing. The stock went up 14.95% yesterday as well. Still, there is no latest development to support their gains. Let us have a look at the recent past developments.

    Recent ONTX news

    On Friday, March 12, 2021, ONTX announced its financial results for the twelve months ended December 31, 2020.

    Full-year Financial highlights

    • ONTX spent $16.9 million in Research and development expenses, compared to $15.5 million for 2019.
    • General and administrative expenses were $8.3 million for 2020, consistent with 2019.
    • Onconova Therapeutics Inc. suffered a net loss of $25.2 million, or $0.14 per share, compared with a loss of $21.5 million, or $1.49 per share for 2019
    • As of December 31, 2020 ONTX, had Cash and cash equivalents were $19.0 million, compared with $22.7 million in the prior year.

    Participation in Three Investment Conferences

    Onconova Therapeutics has participated virtually in three investors conference in March 2021. The company participated in

    • The H.C. Wainwright Global Life Sciences Virtual Conference with one-on-one meetings held onMarch 9-10, 2021
    • The Virtual 33rd Annual Roth Conference with one-on-one meetings held on March 15-17, 2021
    • The Maxim Group Emerging Growth Virtual Conference being held March 17-18, 2021 with one-on-one meetings scheduled after the event

    About the company

    Onconova Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing products for patients with cancer. The company was formed in 1998. Its headquarter is in Pennsylvania, the United States and it startedtrading on the NASDAQ stock exchange under the ticker symbol ONTX in July 2013. Onconova’s proprietary multi-kinase inhibitor ON 123300 is planned to begin a dose-escalation and expansion Phase 1 trial in the U.S. in the first half of 2021, and a dose-escalation and expansion Phase 1 trial is currently underway in China.

    Steven M. Fruchtman, M.D. is the president and CEO of the company. Dr. Fruchtman joined Onconova in January 2015 as Chief Medical Officer. He has extensive experience in large and small biopharmaceutical companies and has led successful clinical development programs while serving in senior positions at many Pharmaceutical companies. He is an author of more than 170 lectures, presentations, books, chapters, and abstracts and serves as an external reviewer for multiple medical journals. He received his medical degree from New York Medical College with the distinction of membership in the Alpha Omega Alpha honorary medical fraternity.

  • Why Sundial Growers Inc (SNDL) stock is going up?

    Why Sundial Growers Inc (SNDL) stock is going up?

    Sundial Growers Inc (SNDL) stock price is going up continuously. In Todays’s March 18, 2021, pre-market it has gained 4.55% as of this writing. The stock went up yesterday as well by 1.99% and closed at $1.54.

    Latest news of SNDL

    On March 17, 2021, SNDL announced its financial results for the full year and the fourth quarter ended December 31, 2020. All the financial figures are given in Canadian dollars

    Q4 Financial Highlights

    • SNDL Net revenue was $13.9 million for the three months ended December 31, 2020 
    • The adjusted gross margin was $3.2 million for the reported quarter.
    • SMG&A expenses were $8.8 million in the fourth quarter of 2020.
    • Net loss from continuing operations was $64.1 million for Q4.
    • Adjusted EBITDA from continuing operations was a loss of $5.6 million 

    Full-year 2020 Highlights

    • SMG&A expenses were $37.8 million for full-year 2020.
    • For 2020 Net loss from continuing operations was $206.3
    • Adjusted EBITDA was a loss of $25.6 million for 2020
    • SNDL gross revenue was $73.3 million for the year 2020 and net revenue was $60.9 million.
    • As of December 31, 2020 SNDL, has $60.4 million unrestricted cash on hand and $719 million unrestricted cash on hand on March 15, 2021.

    New Venture with SAF

    On Monday, March 15 2021, SNDL announced a 50/50 joint venture with SAF Opportunities LP and the new venture will be called SunStream Bancorp. The joint venture will focus on making cannabis-related debt and equity investments in Canada and international markets.

    Conclusion:SNDL stock is likely to do better as the cannabis market is growing. Moreover,SNDL recent financial results beat all the estimates and their recent partnership with SAF make them an attractive option for the investors.

  • Translate Bio Inc. (TBIO) stock is plummeting 22%, Here’s what you should know

    Translate Bio Inc. (TBIO) stock is plummeting 22%, Here’s what you should know

    The Translate Bio Inc. (TBIO) stock lost 22.10% in the pre-market trading on Thursday, March 18 2021 after TBIO announced the clinical trial results of its RNA drug. The negativity continuous in the pre-market session as of this writing and it lost a further 25.10%.

    TBIO shared the news with the market yesterday March 17, 2021, and according to the results RNA drug failed to improve lung function in cystic fibrosis patients and the news sent TBIO stock plummeting.

    Although no adverse reaction was noted except mild to moderate symptoms of a febrile reaction such as fever, headache and chills occurred in three patients after the first dose of MRT5005 and it didn’t improve lung function.

    Translate Bio Chief Medical Officer Ann Barbieris still hopeful and said that based on the first and second interim analyses. TBIO stock has achieved a safety profile that supports repeat dosing of inhaled mRNA and further advancement of the pulmonary platform for chronic dosing.

    Cystic fibrosis is the most common fatal inherited disease in the United States, affecting more than 30,000 patients in the U.S. and more than 70,000 patients worldwide.

    COVID-19 Vaccine update

    On March 15, 2021, Translate Bio and its partner Sanofi showed their initiation of a phase I/II study on their mRNA-based vaccine candidate, MRT5500, to check the vaccine’s safety & immune response. Companies are looking to enroll 415 adults. Trial data is expected to be available in the third quarter of 2021.

    Granting non-qualified stock options

    On March 3, 2021, TBIO stock told that it has granted non-qualified stock options to purchase an aggregate of 54,250 shares, for $23.80 per share of TBIO’s common stock to seven newly hired employees.

    About TBIO

    TBIO is developing a revolutionary class of potential medicines, based on mRNA, to treat or prevent debilitating or life-threatening diseases. TBIO was founded in 2001 and its headquarter is in Lexington, Massachusetts, United States. TBIO  has its own mRNA therapeutic platform (MRT) and is using to treat pulmonary diseases caused by insufficient protein production or where the production of proteins can modify disease.