STOCKS TELEGRAPH

Author: Iqra Jamal

  • Aethlon Medical, Inc. (AEMD) Stock Surged 20.26% Pre-Market, Here’s Why 

    Aethlon Medical, Inc. (AEMD) stock soared 20.26% in the pre-market trading session at the price of $4.57 despite no recent updates. The last reported news on the company’s website was its first-quarter 2021 financial results. AEMD is a leading global health company focused on addressing the unmet needs of patients. The Aethlon Hemopurifier is a clinical-stage immunotherapeutic device that fights against cancer and fatal infections.  

    AEMD First Quarter 2021 Financial Results and Corporate Updates 

     On 9th August 2021, AEMD announced financial results for its first quarter ended 30th June 2021, and provided recent business developments. AEMD reported a net loss of $2.09 million in the second quarter ended 30th June 2021, compared to the net loss of $1.4 million in the same quarter of the previous year. Basic and diluted net loss available to common stockholders was $(0.16) per share in the second quarter of 2021, compared to the net loss of $(0.15) per share in the same period of 2020. 

    Aethlon Medical had a $25.2 million cash balance on 30th June 2021. For the three months ended on 30th June 2021, the company earned approximately $17.5 million in net proceeds from the common stock. AEMD reported government contract revenue of $115,000 on its Phase 2 Melanoma Cancer Contract in the first quarter ended 30th June 2021. For the three months ended on 30th June 2021, the consolidated operating expenses were approximately $2.2 million. Consolidated operating expenses were $1.4 million for the three months ended on 30th June 2020. This $800,000 or 58% gain in the 2021 quarter resulted from higher payroll and related expenses of $580,000 and administrative expenses of $221,000.  

    Fiscal Year 2021 Financial Results and Corporate Updates 

     On 24th June 2021, AEMD announced financial results for its fiscal year ended 31st March 2021 and provided corporate updates. For the fiscal year ended 31st March 2021, consolidated operating expenses were $8.6 million, compared to approximately $6.6 million for the fiscal year ended 31st March 2020. AEMD reported a net loss of $7.9 million for the fiscal year ended 31st March 2021. The reported net loss was $6.4 million for the fiscal year ended 31st March 2020. The company reported a cash balance of $9.9 million on 31st March 2021. The government contract revenue was $659,000 in fiscal 2021 compared to $650,000 in the fiscal year ended 31st March 2020.  

  • Marin Software, Incorporated. (MRIN) Stock Surged 65.91% After-Hours, Here’s Why 

    Marin Software, Incorporated. (MRIN) stock soared 65.91% in the after-hours trading session at the price of $9.44 despite no fundamental reason. The last reported news on the website was MRIN’s integration with Criteo’s Commerce Media to promote eCommerce advertising. MRIN provides higher productivity and transparency to advertisers in their paid marketing programs that operate on the world’s largest publishers. The company offers a unified SaaS advertising management platform by helping digital marketers reach their targeted audience and improve financial performance.  

    Integration with Criteo’s Commerce Media 

    On 19th August 2021, MRIN published that it had integrated with Criteo’s Commerce Media Platform. The collaboration enables brands to manage and optimize both Criteo Marketing Solution and Retail Media campaigns. The integration helps to sponsor ads on the open webs to advertise products on the retailer’s websites. With the help of MRIN, the advertisers optimized above $40 billion in digital advertising spend across paid search and eCommerce advertising since 2007. CEO of MRIN, Chris Lien, remarked that eCommerce is one of the most inspiring and fastest-growing fields of digital marketing. This integration can tap into Criteo’s commerce data and intelligence to promote their mission of providing advertisers with seamless access to buyers, he added.   

    MRIN Second Quarter 2021 Financial Results 

    On 30th July 2021, MRIN announced its earnings report for the second quarter ended 30th June 2021. Chris Lien stated that integration into multiple marketplaces helps them to expand their advertising programs. The alliance with Instacart Ads enables marketers to meet the audience at the point of purchase. Resultantly, the advertisers will have higher sales growth and greater access to new customers. Their stronger balance sheet will expedite innovation and better serve the demands of the eCommerce market, he added.  

    Second Quarter 2021 Financial Summary 

    MRIN reported total net revenues of $6.1 million in the second quarter ended 30th June 2021. It represents a 16% decline compared to $7.3 million in the same quarter of 2020. GAAP operating loss was ($3.0) million in the second quarter ended on 30th June 2021. GAAP loss from operations was ($4.5) million in the second quarter of the previous year. MRIN reported a GAAP operating margin of (49%) in the second quarter of 2021. GAAP operating margin was (62%) during the second quarter of 2020. As of 30th June 2021, the cash and cash equivalents were $14.4 million. In July 2021, the company sold approximately 4.3 million shares for net proceeds of $38.8 million under the “at-the-market” offering program.  

  • Viridian Therapeutics, Inc. (VRDN) Stock Surged 16.00% Current-Market, Here’s Why  

    Viridian Therapeutics, Inc. (VRDN) stock soared 16.00% in the current market trading session at the price of $12.40 after announcing the pricing of public offering shares of common stock and preferred stock. VRDN is a leading biotechnology company that develops new treatments and therapies for patients dealing with serious diseases. 

    Pricing of Public Offering of Shares of Common Stock 

    On 21st September 2021, VRDN published the pricing of an underwritten public offering with gross proceeds of $85.0 million. The company is selling approximately 6,185,454 shares of common stock at a public offering price of $11.00 per share and 23,126 shares of preferred stock at a public offering price of $733.37 per share. Additionally, VRDN has presented a 30-day option to purchase an extra 1,159,089 shares of common stock at the public offering price. VRDN aims to use the proceeds from public offerings to advance the preclinical development of its VRDN-001, VRDN-002, VRDN-004, and VRDN-005 programs. The offering will close on 23rd September 2021 and is subject to customary closing conditions.  

    VRDN Reported Second Quarter 2021 Financial Results 

    On 11th August 2021, VRDN published financial results for the second quarter ended 30th June 2021, and provided business updates. Cash, cash equivalents, and short-term investments were $109.3 million as of 30th June 2021 compared to $127.6 million as of 31st December 2020. For the second quarter ended 30th June 2021, the net loss was $18.0 million. Net loss was $6.4 million for the comparable quarter of the previous year. VRDN reported approximately 31,294,508 shares of common stock outstanding as of 10th August 2021. They comprised approximately 9,542,087 shares of common stock and 21,752,421 shares of common stock issuable upon the conversion of 326,270 shares of preferred stock.  

    During the second quarter ended on 30th June 2021, research and development expenses grew from $8.8 million to $12.6 million. R&D expenses were $3.8 million during the same quarter of the prior year. The higher R&D expenses were driven by the advancement of the VRDN’s lead programs. The company reported an increase of $3.8 million to $6.5 million in general and administrative expenses during the second quarter of 2021. The reported G&A expenses were $2.7 million during the comparable quarter of the previous year. The increase in G&A expenses resulted from higher personnel-related costs, including severance and share-based compensation charges. 

  • FuelCell Energy, Inc. (FCEL) Stock Surged 0.33% Today, Here’s Why 

    FuelCell Energy, Inc. (FCEL) stock soared 0.33% in the pre-market trading session at the price of $6.14 despite no fundamental reason. The last published news on the company’s website was its third quarter of 2021 financial results. FCEL is a leading clean energy technology that serves customers worldwide by delivering sustainable products and solutions for businesses, governments, and municipalities.  

    FCEL Third Quarter of Fiscal 2021 Financial Results 

    On 14th September 2021, FCEL published an earnings report for its third quarter ended 31st July 2021. CEO of FCEL, Mr. Jason Few, remarked that compared to the second fiscal quarter, they had achieved higher revenue in the third fiscal quarter. They are pleased by the continued advancement of their strategic agendas related to infrastructure, solutions, and long-term goals. They have increased their investment in commercial capabilities and research activities combined with progress in advancing their inflight projects. They are positioning FuelCell Energy into long-term growth and sustainable business success, he added.  

    Third Quarter Fiscal 2021 Highlights 

    FCEL reported revenue of $26.8 million for the third quarter ended 31st July 2021. It indicates a growth of 43% over the previous year’s same quarter. The increase in revenue resulted from a $7.2 million gain in service agreements and license revenues. Gross profit was $1.1 million for the third fiscal quarter ended 31st July 2021. The reported gross loss was $(3.1) million in the comparable quarter of 2020. Operating expenses increased by $11.7 million in the third fiscal quarter of 2021. For the same quarter of the prior year, operating expenses were $7.6 million. Net loss was $(12.0) million in the third fiscal quarter ended 31st July 2021. FCEL reported a net loss of $(15.3) million in the third fiscal quarter of 2020.  

    Net loss attributable to common stockholders was $(0.04) per share in the third fiscal quarter of 2021 compared to $(0.07) in the comparable quarter of 2020. The lower net loss per common share resulted from the higher weighted average shares outstanding and the lower net loss attributable to common stockholders. Unrestricted cash and cash equivalents totaled $468.6 million as of 31st July 2021. The reported cash and cash equivalents were $149.9 million as of 31st October 2020. FCEL reported an Adjusted EBITDA of $(5.2) million in the third fiscal quarter of 2021. The Adjusted EBITDA was $(5.6) million in the third fiscal quarter of the prior year.  

  • Tuesday Morning Corporation (TUEM) Stock Plunged 5.18% Pre-Market, Here’s Why

    Tuesday Morning Corporation (TUEM) stock plummeted 5.18% in the premarket trading session at the price of $2.38 despite no recent updates on the company’s website. The last reported news on 16th September was the appointment of Mr. Paul Metcalf as Principal and Chief Merchant. TUEM is the leading off-price retailer that manufactures and commercializes high-quality products for home decoration. The main product categories include upscale home textiles, furnishings, housewares, gourmet food, toys, and seasonal decor.

    Appointment of Paul Metcalf as Chief Merchant

    On 16th September 2021, TUEM published that it had named Mr. Paul Metcalf as Principal and Chief Merchant of the company. The appointment became effective from 14th September 2021. With over 30 years of retail experience, Mr. Metcalf has a proven history of optimizing financial growth for retail businesses. He has been serving the company as Acting Chief Merchant since April 2019. Before this position, Paul worked at Burlington Stores as Executive Vice President and Chief Merchandising Officer. CEO of TUEM, Fred Hand, remarked that he is happy to welcome Paul as the permanent team member. As an exceptional merchant, Paul’s successful track record will help advance the company’s growth, he added.

    TUEM Fourth Quarter & Fiscal 2021 Financial Results

    On 9th September 2021, TUEM published its financial results for the fourth quarter and full fiscal year ended 30th June 2021. Additionally, the company announced several changes in the management team. It appointed Marc Katz as its Principal and Chief Operating Officer, Jennifer Robinson as Chief Financial Officer, and Bill Baumann as Chief Information Officer.

    TUEM Fourth Quarter Fiscal 2021 Financial Results

    TUEM reported a total of 490 operated stores as of the end of the fourth quarter fiscal 2021. The total operated stores were 714 at the end of the fourth quarter of fiscal 2019. Comparable store sales for the 490 stores gained 1.2% compared to the same period in fiscal 2019 despite store inventory ending down 34%.

    Fiscal 2021 Earnings Report

    TUEM reported net sales of $690.8 million for the fiscal ended 30th June 2021. Net sales were $874.9 million for fiscal 2020. Gross profit was $206.0 million for fiscal 2021 compared to $284.9 million for fiscal 2020. The gross margin decreased 29.8% for the fiscal 2021compared to 32.6% the previous year. The decline in gross margin was driven by high supply chain costs offset by improved merchandise margin. The company reported an operating loss of $49.0 million for fiscal 2021. The operating loss of $159.2 million, reported in fiscal 2020. Net income was $3.0 million, or $0.05 per share, for fiscal 2021.

    Net loss was $166.3 million, or $3.68 per share, for fiscal 2020. The year-over-year change in net income was caused by a $49.2 million net gain in fiscal 2021. TUEM ended fiscal 2021 with $6.5 million in cash and cash equivalents. The reported cash and cash equivalents were $46.7 million for fiscal 2020. Inventories were $145.1 million at the end of fiscal 2021 compared to $114.9 million in the last year.

  • ReWalk Robotics Ltd. (RWLK) Stock Surged 11.53% After-Hours, Here’s Why 

    ReWalk Robotics Ltd. (RWLK) stock soared 11.53% in the after-hours trading session at the price of $1.45 despite no fundamental reason. The last reported news on the company’s website was its financial results for the second quarter of 2021. RWLK is focused on developing, manufacturing, and commercializing wearable robotic exoskeletons for people with lower limb disabilities. The company aims to improve the quality of life by providing market-leading robotics technologies. 

    RWLK Second Quarter 2021 Financial Results 

    On 9th August 2021, RWLK published its financial results for the three and six months ended 30th June 2021. CEO of RWLK, Larry Jasinski, remarked that their second-quarter 2021 financial results reflect the ongoing reopening of the markets after the pandemic. They can now make more trials on many new people who had been waiting during the pandemic. Their concentration is on attaining extensive coverage in Europe and the United States. With the help of their market-leading and experienced team, they are extending their resources to accomplish these goals; he added.  

    Second Quarter 2021 Financial Results 

    RWLK reported total revenue of $1.4 million for the second quarter ended 30th June 2021. Total revenue was $1.7 million during the same quarter of the previous year. The drop in revenue was driven by the lower number of RWLK’s Personal 6.0 units sold in Germany. The gross margin was 51% during the second quarter ended on 30th June 2021. The company reported a gross margin of 61% in the second quarter ended on 30th June 2020. The decline resulted from the change in sales mix as well as service costs.  

    For the second quarter of 2021, the net loss was $3.1 million, compared to a net loss of $2.9 million in the second quarter of 2020. Total operating expenses in the second quarter of 2021 were $3.9 million. RWLK reported total operating expenses of $3.6 million in the second quarter ended on 30th June 2020. The increase is caused by higher SG&A employee and employee-related expenses. 

    Appointment of Jeannine Lynch as Vice President 

    On 2nd August 2021, RWLK published the appointment of Jeannine Lynch as Vice President of Strategy and Market Access. This appointment became effective from 31st August 2021. Ms. Lynch will report to ReWalk CEO Larry Jasinski. She will be responsible for building and executing the company’s market access and reimbursement programs. She will also supervise the outlining and implementation of all business strategies and policies. Previously, Ms. Lynch served at BioMarin Pharmaceutical as Senior Director of Patient Access Services. 

  • AVEO Pharmaceuticals, Inc. (AVEO) Stock Plunged 4.79% Today, Here’s Why 

    AVEO Pharmaceuticals, Inc. (AVEO) plummeted 4.79% in the current-market trading session at the price of $6.56 after FDA granted Fast Track Designation (FTD) to ficlatuzumab to treat patients with R/R HNSCC. AVEO is an oncology-focused biopharmaceutical company. It commercializes and delivers medicines to provide a better life for patients dealing with cancer. The company is currently marketing its FOTIVDA drug to treat patients with relapsed or refractory renal cell carcinoma (RCC). 

    FDA Granted Fast Track Designation to Ficlatuzumab  

    On 20th September 2021, AVEO published that ficlatuzumab has granted Fast Track Designation by the U.S. Food and Drug Administration (FDA). Ficlatuzumab, an investigational potent humanized immunoglobulin G1 monoclonal antibody, targets hepatocyte growth factors. This drug has designed to treat patients with relapsed or recurrent head and neck squamous cell carcinoma (R/R HNSCC).  

    CEO of AVEO, Michael Bailey, remarked that the Fast Track Designation granted by FDA emphasizes ficlatuzumab’s potential to address serious unmet medical needs. This drug is an important therapeutic option for patients dealing with metastatic HNSCC. They are dedicated to unlock the potential of ficlatuzumab and look forward to work with the FDA to advance their program to the next step, he added. 

    AVEO Announced Second Quarter 2021 Financial Results 

    On 5th August 2021, AVEO announced its financial results for the second quarter ended 30th June 2021 and provided a business update. The net product revenue was $6.7 million for the second quarter ended 30th June 2021. It included a gross-to-net estimate of 16% and an inventory shipped to distributors during the quarter.  As of 30th June 2021, the total U.S. net product revenue since FOTIVDA’s commercial launch was $7.8 million. The company ended the second quarter of 2021 with $102.9 million in cash, cash equivalents, and marketable securities. Cash and cash equivalents were $61.8 million as of 31st December 2020. 

    AVEO reported total revenue of approximately $7.6 million for the second quarter ended 30th June 2021. Total revenue was $0.7 million for the same quarter of the previous year. For the second quarter of 2021, the net loss was $13.6 million or $0.40 per basic and diluted share. The net loss was $7.3 million or $0.42 per basic and diluted share for the same quarter of 2020. Net loss for the second quarter of 2021 indicates an estimated $2.6 million non-cash gain attributable to the reversal of the fair market value of the PIPE Warrant liability. 

  • Laredo Petroleum, Inc. (LPI) Stock Plunged -7.37% Today, Here’s Why 

    Laredo Petroleum, Inc. (LPI) stock plummeted -7.37% in the current market trading session at the price of $66.78 following the announcement of the expansion of its oil-weighted western Glasscock leasehold. LPI is an independent energy company centered on the research and development of oil and natural gas properties. 

    Expansion of Oil-Weighted Western Glasscock Leasehold 

    On 19th September 2021, LPI published that it had signed a sale and purchase agreement with Pioneer Natural Resources Company. Under the agreement, Laredo will obtain roughly 20,000 net acres worth $230 million in western Glasscock County from Pioneer. This acquired leasehold is directly adjacent to LPI’s existing western Glasscock leasehold. It aims to expand the company’s oil-weighted development area in the prolific Midland Basin. The transaction is subject to customary closing price adjustments and will close at the start of October 2021. 

     CEO of LPI, Jason Pigott, remarked that they had received 55,000 net acres of highly productive oil-weighted inventory in western Glasscock and Howard in the past two years. The next seven years across these fields will improve their capacity to deliver long-term and sustainable Free Cash Flow generation. Through such deals, they will continue to manifest their ability to integrate premier locations into their operations. They will grow their return profile while serving in an environmentally responsible and sustainable manner, he added.  

    LPI Second-Quarter 2021 Financial and Operating Results 

    On 4th August 2021, LPI reported financial and operating results for its second quarter ended 30th June 2021. The net loss attributable to common stockholders was $132.7 million, or $10.47 per diluted share, for the second quarter of 2021. It included a $159.3 million non-cash loss on derivatives. For the second quarter ended 30th June 2021, the Adjusted Net Income was $22.0 million or $1.71 per adjusted diluted share. Adjusted EBITDA for the second quarter ended 30th June 2021 was $97.0 million. The company sold 714,526 shares for net proceeds of $45.6 million through its at-the-market equity program. 

    Jason Pigott stated that their LPI’s transformation had expedited significantly during 2021. The company have extended operational efficiency and completed their first wider-spaced development package to optimize their growth in Howard County.  They have completed around $75 million ATM program and issued $400 million of unsecured notes to overcome the balance on their credit facility. They are focused on their core principles of adding high-margin inventory, risk management, and continuous improvement to create long-term value for stakeholders, he concluded. 

  • NovaBay Pharmaceuticals, Inc. (NBY) Stock Surged 1.94% Pre-Market, Here’s Why

    There is no fundamental reason why NBY stock soared 1.94% in the pre-market trading session at the price of $0.622. NovaBay Pharmaceuticals, Inc. is a leading biopharmaceutical company. It manufactures and commercializes high-quality, differentiated, and anti-infective consumer products.

    NBY Distributed Zocular Dry Eye Products

    On 19th August 2021, NBY signed a commercial agreement with Okra Limited. As per the agreement, the company will distribute its Zocular dry eye products to NovaBay’s physician-dispensed sales channel. The Zocular products are designed to clear Demodex, scurf, and residue from eyelids. The Zocular Eyelid Technology is a 10-minute clinical procedure that provides dramatic, immediate, and lasting results for patients with dry eyes. The products contain both easy-to-use in-office and at-home treatment options. The products are well tolerated by patients as they do not require capital equipment or topical anesthetic.

    CEO of NBY, Justin Hall, remarked that they had been searching for additional dry eye products to add to their commercial sales channels. The Zocular products are designed with a novel, powerful technology to address inflammation at the eyelid margin. The products are the perfect complement to Avenova and are ideal for eyecare specialists seeking effective treatment for patients dealing with dry eye. Avenova is the only clinically proven lid antimicrobial spray to reduce the bacterial load on skin surfaces around the eyes. Both Avenova and Zocular at-home products are perfectly safe for daily use, he added.

    NBY Published 2021 Financial Results

    On 12th August 2021, NBY reported financial results for the three and six months ended on 30th June 2021.

    Second Quarter Financial Results

    NBY reported net product revenue of $2.1 million for the second quarter of 2021. Net product revenue was $4.0 million for the second quarter of 2020. Avenova’s revenue for the second quarter of 2021 was $1.9 million. It is 65% up from $1.1 million for the second quarter of the previous year. The gross margin on total net sales was 71% for the second quarter ended 30th June 2021. The gross margin on total net sales was 49% high in the same quarter of 2020. Net loss was $1.9 million, or $0.04 per share, for the second quarter of 2021. The net loss was $4.5 million, or $0.15 per share, for the second quarter of 2020.

    Six Month Financial Results

    NBY reported net product revenue of $3.9 million for the six months ended 30th June 2021. Net product revenue was $5.9 million for the six months ended on 30th June 2020. The gross margin on net product revenue was 73% for the first half of 2021, compared with 55% for the same period of 2020. The net loss for the six months ended on 30th June 2021 was $3.4 million, or $0.08 per share. Net loss was $6.1 million, or $0.21 per share, for the six months ended 30th June 2020.

  • Ensysce Biosciences, Inc. (ENSC) Stock Surged 6.10% After-Hours, Here’s Why

    Ensysce Biosciences, Inc. (ENSC) soared 6.10% in the after-hours trading session at the price of $3.13 despite no recent news published by the company.

    ENSC is a leading clinical-stage biotech company. It produces safer prescription drugs using its proprietary technology platforms. The company is developing tamper-proof opioids that help in the prevention of both drug abuse and overdoses. ENSC’s products assist in preventing deaths resulted from opioid abuse by minimizing human and economic costs.

    Clinical Study of Next Generation Opioid, PF614 to Treat Cohort

    On 8th September 2021, ENSC published the enrollment of its first cohort in a clinical study of next-generation opioids, PF614-102. It is a phase 1b, randomized, 2-part single-center study. The study aimed to evaluate the Pharmacokinetics and safety of multiple-ascending oral doses of PF614. It has analyzed the food effect and bioavailability of single oral OxyContin-related doses of PF614. The study has conducted under the supervision of Matthew Johnston, MD, PRA Health Sciences.

    Chief Medical Officer of ENSC, Dr. William Schmidt, remarked that it is their first and foremost health priority to find a safe and efficient treatment to address the opioid crisis. This study is an essential step towards manufacturing opioid products to treat patients dealing with chronic pain. CEO of Ensysce Biosciences, Dr. Lynn Kirkpatrick, commented that transforming pain treatment and providing a critical solution to the opioid crisis is their chief mission. Their approach is to turn opioid pain relief into a more satisfactory therapeutic option in the future. They are focused on their commitment to stemming the prescription drug abuse epidemic by bringing their unique products to the industry. Their pipeline of products will provide safer options for both prescribers and patients, he concluded.

    Second Quarter 2021 Financial Results

    On 16th August 2021, ENSC announced its second-quarter 2021 financial results and provided business updates. ENSC reported cash and cash equivalents of $8.0 million for the second quarter ended 30th June 2021. The company entered into a share subscription facility in December 2020. It had access to $60 million shares following the closure of the merger with Leisure Acquisition on 30th June 2021. The company reported a net loss of $1.0 million for the second quarter ended 30th June 2021. The net loss was $0.7 million for the same quarter of the previous year. Funding under federal grants was $0.4 million for the second quarter of 2021. Federal grants were $1.8 million for the second quarter ended 30th June 2020. The reduction is attributable to the timing related to research activities eligible for funding.