STOCKS TELEGRAPH

Author: Iqra Jamal

  • Atreca, Inc. (BCEL) Stock Surged 5.07% Pre-Market, Here’s Why 

    Atreca, Inc. (BCEL) Stock Surged 5.07% Pre-Market, Here’s Why 

    Atreca, Inc. (BCEL) stock soared 5.07% in the pre-market trading session at the price of $6.43 following the announcement of two upcoming presentations at the SITC 2021 Annual Meeting in Washington from 10 to 14th November 2021. BCEL is an oncology-related biopharmaceutical company. It discovers, develops, and commercializes novel antibody immuno-therapeutics using its differentiated discovery program. These antibodies provide the framework for its first-in-class therapeutic leading product candidate, ATRC-101. 

    BCEL to present at Society for Immunotherapy of Cancer (SITC) Annual Meeting 

    On 1st October 2021, BCEL published two upcoming poster presentations from 10th to 14th November 2021 at the SITC 2021 Annual Meeting in Washington, D.C.  

    The first presentation title is “First-in-Human Results with the Novel Tumor-Targeting Antibody ATRC-101: Phase 1b Study in Patients with Solid Tumors”. The presentation with poster number 518 will be held from 12th to 13th November 2021 from 7:00 a.m. to 8:30 p.m. ET. The second presentation title is “Preclinical Evaluation of Pegylated Liposomal Doxorubicin or Doxorubicin with mATRC-101 in the EMT6 Syngeneic Mouse Model”. This presentation with poster number 559 will be held from 12th to 14th November 2021 from 7:00 a.m. to 8:30 p.m. ET.  

    The full abstract will get published on the SITC website on Tuesday, 9th November 2021, at 8:00 a.m. ET. The posters will be available on the BCEL’s official website on 12th November 2021 at 7:00 a.m. ET.  

    BCEL Reported Second Quarter 2021 Financial Results 

    On 11th August 2021, BCEL published its earnings report for the second quarter ended 30th June 2021 and provided corporate updates. CEO of BCEL, John Orwin, remarked that they have published the initial data from the dose-escalation portion of the “Phase 1b trial of ATRC-101”. As per the outcomes, ATRC-101 is well-tolerated in the study. Its initial positive signs of activity provided a strong rationale for further evaluation. The company looks forward to presenting updated data on the early-stage pipeline in the coming future, he added.  

    Second Quarter 2021 Financial Summary 

    As of 30th June 2021, the cash, cash equivalents, and short-term investments were approximately $182.3 million. BCEL reported research and development expenses of $19.0 million for the three months ended on 30th June 2021. They included $1.9 million in a non-cash share-based compensation expense. For the three months ended on 30th June 2021, the reported general and administrative costs were $8.0 million. They included $2.0 million in a non-cash share-based compensation expense. For the three months ended on 30th June 2021, the company reported a net loss of $26.7 million. Basic and diluted net loss per share attributable to common stockholders was $0.72 as of 30th June 2021. 

  • PEDEVCO Corp. (PED) Stock Plunged 10.43% After-Hours, Here’s Why

    PEDEVCO Corp. (PED) Stock Plunged 10.43% After-Hours, Here’s Why

    PEDEVCO Corp. (PED) stock plummeted 10.43% in the after-hours trading session at the price of $1.89 despite no fundamental reason. PED is a leading publicly traded energy company in the United States. It is involved in the procurement and production of strategic and high-growth energy projects. 

    PED Reported Company Presentation and Operational Updates 

    On 20th September 2021, PED reported its updated presentation on the company’s official website. The presentation covered additional data on the “Phase III” Permian Basin development plan along with updated San Andres curves and economics. It also included information about positive progress in the D-J Basin, outstanding performance, and updated Niobrara well-type curves and economics. 

    PED’s president, Mr. J. Douglas Schick, remarked that they are satisfied and inspired by the outstanding performance of their D-J Basin. They attribute high performance to adequate geologic targeting and refined completion techniques. The 30-day IP and cumulative production results have improved extensively, making D-J Basin the best-performing oil basins in the U.S, he added. 

    PED intends to raise its capital allocation to non-operated projects in the D-J Basin. It has improved its business development activities which will add opportunities for further growth and advancement. They keep on evaluating D-J Basin well proposals and participate in economics and prospective. Meanwhile, they continue to move forward with the “Phase III” development of the Permian Basin asset. They will continue to leverage their debt-free balance sheet and deploy about $20 million in free cash to develop the D-J Basin and Permian Basin assets, he concluded. 

    Second Quarter 2021 Financial Results 

    On 17th August 2021, PED published its second-quarter financial results that ended on 30th June 2021. For the second quarter of 2021, oil and gas production grew 40% to 718 BOEPD, compared to 511 BOEPD or 77% oil in the same quarter of 2020. Revenues improved by 470% to $3.74 million for the second quarter of 2021. The total revenue was $656 thousand in the same quarter of the previous year. PED reported an operating loss of $0.6 million in the second quarter ended on 30th June 2021. The operating loss was $3.4 million in the second quarter ended on 30th June 2020. For the second quarter of 2021, net loss was $225 thousand or $0.00 per basic and diluted share. The net loss was $2.74 million, or $0.04 per basic share, in the same quarter of 2020. 

  • Zomedica Corp. (ZOM) Stock Surged 12.44% Today, Here’s Why

    Zomedica Corp. (ZOM) Stock Surged 12.44% Today, Here’s Why

    Zomedica Corp. (ZOM) stock soared 12.44% in the current-market trading session at the price of $0.59 after it had acquired Pulse Veterinary Technologies for $70.9 million. ZOM is a veterinary health company that focuses on the unmet needs of clinical veterinarians. Its major product portfolio includes diagnostics and medical devices for animals.

    ZOM Acquired PulseVet Technology

    On 1st October 2021, ZOM published that it had obtained Pulse Veterinary Technologies for approximately $70.9 million in all-cash transactions. Pulse Veterinary Technologies is an international electro-hydraulic shock wave technology. It can treat a broad range of conditions in veterinary patients. The high-energy sound waves discharge wound healing factors in the cell that improve blood flow by accelerating bone and tissue development. The technology can cure the conditions related to wound and bone healing, ligament recovery, osteoarthritis, and chronic pain.

    CEO of ZOM, Robert Cohen, remarked that it had been their motive to complete the TRUFORMA product platform and to stimulate the company’s growth by investing in their product development efforts. They are focused on improving ZOM’s capability to be a valued partner by bringing novel and valuable offerings to enhance animal and veterinary health.

    Appointment of Sean Whelan to Board of Directors

    On 13th September 2021, ZOM published the appointment of Sean Whelan to the company’s Board of Directors. Sean Whelan will replace his predecessor Christopher Wolfenberg. Mr. Sean has most recently served at Encore Rehabilitation Services as Chief Executive Officer. He has previously worked as the company’s CFO from 2017 to 2018. Earlier, Mr. Sean served as CFO of InfuSystem Holdings, Inc. from 2007 to 2010. Before that position, he served at Ford Motor Company in various senior finance positions from 1996 to 2007.

    Robert Cohen remarked that they welcome Sean, with a sterling background, to the company’s board of directors. His broad experience and expertise in financial matters will be an excellent addition to ZOM. They look forward to Sean assuming the Chairmanship of the Audit Committee and to serving the company on a wide range of issues. He also thanked Chris Wolfenberg for his services and valuable counsel during the period he served.

    Mr. Whelan commented that he is pleased by the potential of ZOM’s innovative product portfolio. As a business executive, he is excited to join the Board to help facilitate the company’s growth.

  • Paltalk, Inc. (PALT) Stock Surged 28.46% Today, Here’s Why 

    Paltalk, Inc. (PALT) stock soared 28.46% in the current-market trading session at the price of $10.78 despite no fundamental reason. The last reported news on the website was its second quarter of 2021 financial results. PALT is a leader in communications software that powers social applications. Paltalk and Camfrog, video-based collections, are the company’s famous product portfolios.  

    PALT Second Quarter 2021 Financial Results 

    On 10th August 2021, PALT published its second-quarter 2021 financial and operational results. CEO of PALT, Jason Katz, remarked that they are delighted to achieve a significant milestone of common stock uplisting. The Nasdaq uplisting has the potential to raise liquidity that enlarges the institutional stockholder base and improves long-term stockholder value.

    Their second-quarter results were stable compared to the prior-year second quarter due to the COVID-19 pandemic. The company has a substantial balance sheet with high liquidity, less long-term debt, and $6.5 million in cash and cash equivalents. PALT has built strong momentum over the last couple of quarters. They believe that the company is well-positioned for continued growth, he added. 

    Second Quarter 2021 Financial Highlights  

    For the three months ended 30th June 2021, PALT reported an increase in revenue by 1% to $3.4 million compared to the three months ended 30th June 2020. This growth resulted from $0.1 million increments in technology service revenue. For the six months ended 30th June 2021, the revenue raised by 11% to $6.8 million, compared to the six months ended 30th June 2020.  

    PALT reported income from operations of $0.6 million for the three months ended on 30th June 2021. It includes $0.2 million in non-cash impairment, an increase of $46 thousand compared to the second quarter of 2020. For the six months ended 30th June 2021, income from operations improved by $0.8 million compared to the same period of the previous year.  

    For the three months ended on 30th June 2021, net income was $0.8 million. It is $0.3 million higher compared to the three months ended 30th June 2020. PALT reported net income of $1.7 million for the six months ended on 30th June 2021. It represents an increase of $1.6 million compared to the same period of 2020. 

    PALT Liquidity and Capital Resources  

    For the six months ended on 30th June 2021, PALT achieved a positive cash flow of $0.6 million from operations. An improvement of $189 thousand compared to the six months ended 30th June 2020. Cash and cash equivalents totaled $6.5 million as of 30th June 2021. It represents an increase of $0.9 million as of 31st December 2020.

  • Bit Digital, Inc. (BTBT) Stock Plunged 14.03% Today, Here’s Why 

    Bit Digital, Inc. (BTBT) stock plummeted 14.03% in the current market trading session at the price of $6.80 after announcing a private placement of $80 Million. BTBT is a bitcoin mining enterprise with mining operations in the United States and Canada. 

    BTBT Published $80 Million Private Placement 

    On 30th September 2021, BTBT published that it had joined an agreement to purchase up to 13,490,728 ordinary shares in a private placement. The purchase price is $5.93 per ordinary share. Bit Digital will also offer its investors warrants to purchase an aggregate of 10,118,046 common shares. These offered warrants have an exercise price of $7.91 per whole ordinary share. Gross proceeds from the private placement are $80 million, including placement agent fees and offering expenses. The private placement will close on 4th October 2021 and is subject to the customary closing conditions. 

    Appointment of Brock Pierce to Board of Directors 

    On 28th September 2021, BTBT appointed Brock Pierce to its board of directors. The appointment will be effective from 31st October 2021. Brock is the co-founder of EOS Alliance, Blockchain Capital, Tether, and Master coin. He is also the Chairman of the Bitcoin Foundation. Brock Pierce has an exceptional track record of founding, advising, and investing in disruptive enterprises. Pierce has established the digital market and has raised near $5B for his founding companies. 

    Chief Strategy Officer of BTBT, Sam Tabar, remarked that Pierce’s appointment as the board of directors is a step further to develop their transition into North America. Brock is an experienced leader with a proven track record in the Bitcoin industry. They are confident his diplomatic vision and relationships will help them administer their growth strategy, he added.

    Brock Pierce stated that BTBT is a leading mining industry because of its current fleet size and dedication to becoming carbon-neutral. He looks forward to serving its directing board and offering his experience to the company. 

    BTBT Strategic Partnership with Blockfusion 

    On 7th September 2021, BTBT announced that it had entered into a strategic co-mining agreement with Blockfusion USA, Inc. Under the terms of the agreement, Blockfusion will deliver specific services to BTBT for a 35 MW bitcoin mining operation under the term of two years. This strategic collaboration will improve Bit Digital’s hash rate to approximately 1.2 Exahash (EH). The company expects to complete the first phase of miner equipment deliveries for installation on 15th September 2021.

  • China Pharma Holdings, Inc. (CPHI) Stock Surged 0.019% After-Hours, Here’s Why  

    China Pharma Holdings, Inc. (CPHI) stock soared 0.019% in the after-hours trading session at the price of $0.53 despite no fundamental reason. The last reported news on the company’s website was its second quarter of 2021 financial results. CPHI is a leading pharmaceutical company that produces and commercializes a broad range of products to treat cardiovascular, CNS, infectious, and digestive diseases. 

    CPHI Second Quarter 2021 Financial Results 

    On 13th August 2021, CPHI published the financial results for the second quarter ended on 30th June 2021. CEO of CPHI, Ms. Zhilin Li, remarked that they continued to concentrate on the evaluation of their currently listed products. Their hypertensive drug Candesartan has passed the bioequivalence assessment. They have already submitted the application and documents to the National Medical Products Administration (NMPA), he added.  

    As the number of COVID-19 cases rising, they have strengthened the manufacturing and sale of the pandemic prevention goods, such as medical-surgical masks. They are optimistic about the CPHI’s growth, given the robust foundation of their business and market. There are considerable opportunities in front of them. They are working to expedite the potential in specialty pharma and Traditional Chinese Medicine (TCM), he concluded. 

    Second Quarter 2021 Financial Highlights 

    For the three months ended 30th June 2021, CPHI reported a revenue drop of 35.9% to $2.4 million. The revenue was $3.8 million for the three months ended on 30th June 2020. Net loss was $0.8 million, or $0.02 per basic and diluted share, for the second quarter ended 30th June 2021.  The net income was $0.01 million, or $0.00 per basic and diluted per share, in the same period of 2020. This drop in revenue and net income resulted from a foreign trade of COVID-19 testers that contributed $1.7 million during the second quarter of 2020. 

    First-Half 2021 Earnings Report 

    For the six months ended 30th June 2021, revenue was $4.8 million. CPHI reported revenue of $5.5 million for the six months ended 30th June 2020. Net loss was $1.6 million for the six months ended on 30th June 2021. The net loss of $0.6 million, reported for the six months of the previous year. In the first half of 2021, the lower financial performance resulted from the one-time trade of COVID-19 testers. As of 10th July 2021, the company had fully repaid the eight-year construction loan facility of RMB 80 million (approximately $12.4 million). 

  • Herman Miller, Inc. (MLHR) Stock Surged 2.22% After-Hours, Here’s Why 

    Herman Miller, Inc. (MLHR) stock soared 2.22% in the after-hours trading session at the price of $41.01 after reporting its first-quarter fiscal 2022 financial results. MLHR is one of the leading and most famous modern design companies in the world. As a dynamic brands organization, the company is well known for its design, innovation, and social good.  

    MLHR First Quarter Fiscal 2022 Financial Results 

    On 29th September 2021, MLHR published its consolidated financial and operating results for the first quarter of fiscal 2022. For the three months ended on 28th August 2021, the company reported consolidated net sales of approximately $789.7 million. It represents a growth of 26.0% and an increase of 0.4% organically. In the first quarter of fiscal 2022, orders were $916.5 million, up 64.8% compared to the prior year’s same quarter and up 34.5% organically. For the first quarter ended 28th August 2021, the gross margin was 35.1% compared to 39.9% during the previous year’s same period.  

    MLHR reported an adjusted gross margin of 35.9% in the first quarter of fiscal 2022. The adjusted gross margin was 40.0% during the same quarter of the previous year. The consolidated operating expenses were $330.3 million for the quarter ended 28th August 2021. The reported operating expenses were $154.6 million in the same period the previous year. Consolidated adjusted operating expenses were $235.2 million, up 51.0% from last year. The increase resulted from the addition of $49.0 million of operating expenses related to Knoll.  

    For the three months ended 28th August 2021, the operating margin was (6.7) %, compared to 15.2% during the three months ended 28th August 2020. MLHR reported a net loss of $0.93 per share in the first quarter of fiscal 2022. Diluted earnings per share were $1.24 for the first quarter of fiscal 2021. Adjusted earnings were $0.49 per share during the first quarter ended 28th August 2021. For the first quarter ended 28th August 2021, adjusted earnings were $1.24 per share.  

    Second Quarter Fiscal 2022 Expectations 

    In the second quarter of fiscal 2022 guidance, MLHR anticipates sales range from $1,025 million to $1,065 million. The company expects an increase of 67% in revenue from the same quarter of last fiscal year. MLHR expects adjusted earnings per share to range between $0.55 and $0.61. The company has provided an outlook on a non-GAAP basis but cannot forecast some elements in reported GAAP results. 

  • Troika Media Group, Inc. (TRKA) Stock Surged 0.73% After-Hours, Here’s Why 

    Troika Media Group, Inc. (TRKA) stock soared 0.73% in the after-hours trading session at the price of $1.38 after reporting its fourth quarter and fiscal 2021 financial results.  TRKA is an international brand solutions company that produces long-term value for customers in the sports and entertainment industry. 

    TRKA Fourth Quarter and Fiscal 2021 Financial Results 

    On 29th September 2021, TRKA published financial results for its fourth quarter and fiscal year ended 30th June 2021.CEO of Troika, Robert Machinist, remarked that their fiscal 2021 financial results sustained the adverse impact of the challenging situation caused by the coronavirus pandemic. During the outbreak, many of their projects were put on hold that damaged their customer activity badly. Although, the company remained focused on maintaining high-quality services and relationships with its clients.

    TRKA executed a structural operating cost reduction program to reduce the expense base and grow margin growth. For fiscal 2022, the company anticipates improved revenue growth as their clients have resumed advertising and ad budgets are expanding. They are excited about the resumption of global financial activities as an integral part of their business, he concluded. 

    Fiscal 2021 Financial Summary 

    TRKA reported revenues of $16.2 million for the fiscal year ended 30th June 2021. It represents a drop of 34% from $24.6 million in the prior year period. Lower revenue resulted from the pandemic as lockdown, ban of live events, and social distancing adversely affected business growth.

    A net loss was ($16.0) million or ($1.03) per common share for the fiscal year ended 30th June 2021. The company reported a net loss of ($14.4) million or ($0.94) per common share during the previous year. Adjusted net loss was ($8.1 million), or ($0.52) per share for the fiscal ended 30th June 2021, compared to ($10.2) million, or ($0.66) per share, in fiscal 2020. 

    TRKA Fourth Quarter 2021 Results 

    For the fourth quarter ended 30th June 2021, TRKA reported revenues of $3.8 million. It represents a drop of 3% compared to $3.9 million in the three months ended 30th June 2020. Net loss was ($6.8) million or ($0.44) per share in the fourth quarter of 2021. During the same quarter of 2020, a net gain was $0.7 million or ($0.05) per share.

    Adjusted net loss was ($3.4) million, or ($0.22) per share in the fourth quarter ended 30th June 2021. The company reported a net gain of $0.7 million, or $.05 per share, in the fourth quarter ended 30th June 2020.  

    First Quarter Fiscal 2022 Sales Expectations 

    For the first quarter of fiscal 2022, TRKA expects an increment of approximately 60% in sales revenue from the prior year same quarter. 

  • Li-Cycle Holdings Corp. (LICY) Stock Surged 8.64% Today, Here’s Why 

    Li-Cycle Holdings Corp. (LICY) stock soared 8.64% in the current-market trading session at the price of $11.95 following the announcement of a $100 million investment from Koch Strategic Platforms (KSP). Li-Cycle delivers a customer-centric solution for lithium-ion batteries by leveraging its innovative Spoke & Hub Technologies. Lithium-ion batteries are automotive and have consumer electronics and other industrial and domestic applications.  

    Investment of $100 Million from KSP 

    On 29th September 2021, LICY published that Koch Strategic Platforms (KSP) will invest $100 million through the purchase of a convertible note. This investment intends to support LICY’s rapidly increasing growth opportunities. As per the terms of the investment, KSP will purchase a convertible note in an aggregate principal amount of $100 million with an initial conversion price of $13.43 per common share. The investment is subject to customary anti-dilution conditions.  

    CEO of LICY, Ajay Kochhar, commented that this investment would further accelerate the development of lithium-ion battery recycling footprint. Recycling and recovery of lithium-ion rechargeable batteries are crucial for the electrification of transportation. President of KSP, David Park, remarked that LICY is a leading industry with a strong portfolio of strategic partnerships and proven innovative technology. They are confident in the company’s cutting-edge technology and expertise to deliver long-term value to its stakeholders. 

    LICY Reported Third Quarter 2021 Financial Results 

    On 9th September 2021, LICY published an earnings report for its third quarter ended 31st July 2021. Total revenues increased 840% to $1.7 million in the third quarter of 2021. Total revenues were $0.2 million in the same quarter ended 31st July 2020. The increased revenue in 2021 resulted from higher recycling services and product sales. 

    LICY reported net loss of approximately $6.9 million for the third quarter ended 31st July 2021. Net loss was $1.8 million in the same quarter ended 31st July 2020. For the third quarter of 2021, operating expenses improved to $7.9 million. Operating expenses were $1.9 million during the third quarter of the previous year. LICY reported an Adjusted EBITDA (loss) of $(5.2) million in the third quarter of 2021, compared to $(1.3) million for the same quarter of 2020. 

    Cash flows from operating activities were $5.2 million in the third quarter ended 31sh July 2021, compared to $2.2 million during the same quarter of 2020. As of 31st July 2021, cash, cash equivalents, and marketable securities were $2.4 million. The shares outstanding of common shares were 163,179,553, as of 31st August 2021. 

  • Jiuzi Holdings, Inc. (JZXN) Stock Surged 12.65% Today, Here’s Why  

    Jiuzi Holdings, Inc. (JZXN) stock soared 12.65% in the current-market trading session at the price of $2.76 after it entered into a strategic cooperation agreement with Shaanxi Tongjia Auto. Jiuzi Holdings is a Chinese company with thirty-one operating franchise stores and one company-owned store. It sells battery-operated electric vehicles and sources New Energy Vehicles (NEVs) through twenty manufacturers. 

    Strategic Cooperation Agreement with Shaanxi Tongjia Auto Co., Ltd. 

    On 29th September 2021, JZXN published that it had entered into a strategic agreement with Shaanxi Tongjia Auto Co., Ltd. Under the deal, Tongjia will deliver 2000 new energy vehicles to Jiuzi Holdings. It includes Electric OX II, the company’s best-selling electric delivery vehicle. Initially, JZXN, through its subsidiary Hangzhou Zhitongche Technology, will give an RMB20 million loan to Tongjia’s licensed dealers. Both companies will utilize their resources to mutually create a clean, safe, and effective industrial production chain to meet clients’ needs. Few months back, the company announced cooperative agreements with Chongqing Ruichi Automobile Industry Co., Ltd. and Hemei Auto Holdings Co., Ltd. 

    CEO of JZXN, Mr. Shuibo Zhang, remarked that they are pleased to initiate this strategic partnership with Tongjia Auto Co., Ltd. Tongjia is the leading new energy vehicles producer and retailer in Northwest China. It has started working on new energy vehicles production and made remarkable progress in developing new vehicle models. They believe that this collaboration will have positive impact on the new energy vehicle industry in coming years, he added.  

    JZXN Published First-Half 2021 Financial Results 

    On 5th August 2021, JZXN announced its financial results for the six months ended on 30th April 2021. For the six months ended 30th April 2021, net revenues grew by 260.88% or $3.33 million to $4.61 million from $1.28 million during the same period of 2020. Net income was $1.31 million for the six months ended 30th April 2021. The net loss was $0.03 million for the six months ended on 30th April 2020.

    For the six months ended 30th April 2021, gross profit and gross profit margin were $3.12 million and 67.75%. The gross profit and gross profit margin were $0.49 million and 38.05% for the six months ended 30th April 2020.  JZXN reported income from operations of $1.81 million for the six months ended on 30th April 2021. For the six months ended on 30th April 2020, the operating loss was $0.04 million.