Author: Iqra Jamal

VYNE Therapeutics Inc. (VYNE) stock surged 13.16% in the pre-market trading session at the price of $1.03 despite no fundamental reason. The last reported news was its financial results for the three months ended on 30th September 2021.

VYNE provides proprietary, innovative, and differentiated treatments to improve the lives of patients. The company develops and commercializes a wide range of therapies to treat rare skin diseases and immuno-inflammatory conditions with high unmet medical needs.

VYNE Third Quarter 2021 Financial Results  

On 10th November 2021, VYNE published its financial results for the three months that ended on 30th September 2021. The company has also provided its corporate updates.

Financial Highlights  

Research and development expenses were $7.0 million for the three months ended on 30th September 2021. It represents a gain of 5.4%, or $0.4 million, from $6.6 million for the same third quarter ended 30th September 2020. VYNE reported selling, general and administrative costs of $13.8 million for the three months ended 30th September 2021. It represents a drop of 30.0%, or $5.9 million, from $19.8 million for the three months ended on 30th September 2020.

For the three months ended 30th September 2021, VYNE reported revenue of $4.1 million. It consists of $0.1 million of royalty revenue and $4.0 million from product sales. Revenue totaled $3.3 million for the three months ended on 30th September 2020. It consists of $0.4 million of royalty revenue and $2.9 million from product sales.

For the third quarter ended 30th September 2020, the cost of goods sold totaled $1.0 million. The cost of goods sold was $0.4 million for the third quarter ended 30th September 2020. VYNE reported a gross margin percentage of 73% for the third quarter ended 30th September 2021. For the same three months ended on 30th September 2020, the gross margin percentage was 87%.

Management Comments

Chief executive officer of VYNE, David Domzalski, remarked that their third-quarter results mark a critical turning point for the company.  They are working to advance next-generation therapeutics to address immuno-inflammatory conditions. VYN201, their lead candidate, demonstrates a strong ability to influence various pro-inflammatory pathways, he added.

Skylight Health Group Inc. (SLHG) stock plunged 7.46% in the pre-market trading session at the price of $1.36 after announcing the pricing of its public offering of common shares. Skylight Health Group is a healthcare services and technology company. It aims to bring a positive impact on patient health and society.  

SLHG Announced Pricing of Public Offering of Common Shares 

On 2nd December 2021, SLHG announced the pricing of a public offering of 275,000 shares of its Series A Cumulative Redeemable Perpetual Preferred Shares. The offered common shares have a public price of $21 per share. The company expects $5.8 million gross proceeds from the offering. The underwriters have also awarded a 30-day option to purchase an additional 41,250 shares of Preferred Stock at the public offering price. The offering has expected to close on 6th December 2021 and is subject to customary closing conditions.  

SLHG Third Quarter 2021 Financial Results 

On 15th November 2021, SLHG published its financial results for the third quarter ended 30th September 2021 and presented corporate updates.  

Financial Highlights 

SLHG reported revenue of $12.2 million for the third quarter ended 30th September 2021. It represents an increase of 16% from the second quarter of 2021. Third-quarter revenue increased 269% from $3.3 million for the third quarter of 2020. The company reported an adjusted EBITDA loss of $2.6 million for the third quarter ended 30th September 2021.   

For the third quarter ended 30th September 2021, net loss from operations totaled $3.9 million. It includes $1.9 million from non-cash items and $1.1 million from charges related to accounting, legal and consulting fees. SLHG calculated a cash balance of approximately $5.6 million as of 30th September 2021. 

Management Comments  

Chief executive officer of SLHG, Prad Sekar, remarked that they are delighted to achieve the highest revenue during the quarter. They have prioritized their resources on the continued efforts to achieve revenue and cost synergies. They are excited to participate in value-based contracting through the direct contracting entity (DCE). The combination of building market density and sound centralization of support services have granted them more opportunities to adopt value-based care initiatives.

Code Chain New Continent Limited (CCNC) stock surged 6.48% in the pre-market trading session at the price of $1.15 despite no fundamental reason.

CCNC is a miner of vertically integrated cryptocurrency. It works on the research and development of electronic tokens to connect the five-W elements and identity data using Code Chain technology. 

CCNC Announced Major Order Agreement with AGMH 

On 2nd November 2021, CCNC published that it had signed a major order agreement with AGM Group Holdings Inc. Under the deal, Code Chain will buy 10,000 units of KOI Miner 100 TH/S mining machines for $65 million from AGM Group Holdings. The mining machines have expected to deliver by the second half of 2022. The company has also given an option to purchase additional 10,000 units.  

Management Comments  

Chief Executive Officer of CCNC, Mr. Tingjun Yang, stated that they are delighted to collaborate with AGM Group Holdings. The partnership will grant them a long-term and steady supply of mining machines. Following the purchase of 10,000 mining machines, the company will explore innovative technologies and enrich its cryptocurrency portfolio. They look onward to working with the AGMH team in the future, he added.   

Co-Chief Executive Officer of AGMH, Mr. Chenjun Li, commented that this deal would strengthen their capacity to serve a highly growing customer base. They will improve their technology, expertise, and ability to explore opportunities while serving their customers in the evolving market. 

CCNC Reported Completion of Asset Purchase 

On 4th October 2021, CCNC announced the completion of its filecoin mining asset purchase agreement. The company has earlier entered into an asset purchase deal with Shenzhen Jindeniu Electronics Limited on 27th September 2021. The purchased assets worth 15.9 million include storage servers for cloud computing. All the assets have been delivered, and the transaction has been completed by 27th September 2021.   

Management Comment  

Co-CEO of the Company, David (Weidong) Feng, remarked that with this successful completion of asset purchase, the company would continue exploring the mining opportunities to expand and enrich its cryptocurrency portfolio. This purchase will improve mining operations, create shareholder value, and drive significant growth, he added.   

Kelso Technologies Inc. (KIQ) stock surged 8.33% in the pre-market trading session at the price of $0.55 despite no fundamental development. Kelso is a product development company that designs, manufactures, and distributes service equipment for the transport industry.   

KIQ X Industries Secured Two Key Development Partners  

On 17th November 2021, KIQ announced that KIQ X Industries had acquired two key prototype development partners in its KXI™ Wildertec™ Heavy Duty Suspension project. KIQX has contracted Kinetic Drive Solutions and Vector Truck Designs to provide a team of control system designers and software experts for regulatory compliant final production-ready HD prototypes.   

Vector Truck Designs will direct the project in the final stage of prototype design and construction of all mechanical parts. Vector has been producing heavy-duty vehicle suspensions for top companies for over decades. The company is highly equipped to build KXI to meet the rigorous standards of regulatory compliance, dependability, and performance. 

KIQ Nine Months 2021 Financial Results 

On 10th November 2021, KIQ reported its consolidated financial results for the nine months ended on 30th September 2021. The company has also presented its business updates.  

Financial Highlights  

KIQ reported total revenue of $5,429,090 for the first nine months ended 30th September 2021. Revenue totaled $9,754,172 for the same nine months of 2020. For the first nine months of 2021, the gross profit was $2,247,453. Basic earnings per share was a loss of (0.03) for the nine months of 2021. The company reported net income (loss) of $(1,627,595). For nine months ended 30th September 2021, adjusted EBITDA (loss) was $(1,204,877). Adjusted EBITDA was $990,074 for the same nine months of 2020. 

As of 30th September 2021, KIQ had cash on deposit of $3,198,231. On 30th September 2021, the company had no income tax payable. Income tax payable totaled $91,566 on 31st December 2020. The company reported zero long-term liabilities or debt as of 30th September 2021. On 30th September 2021, the company’s net assets increased to $14,017,652. Total net assets were $10,960,923 as of 31st December 2020. As of 30th September 2021, the company has a working capital position of $9,140,729.

Ulta Beauty, Inc. (ULTA) stock surged 5.18% in the pre-market trading session at the price of $403.50 after reporting its financial results for the third fiscal quarter ended 30th October 2021. 

Ulta Beauty is one of the largest beauty retailers of fragrance, cosmetics, hair care products, skincare products, and salon services.  

ULTA Third Quarter Fiscal 2021 Financial Results 

On 2nd December 2021, ULTA announced its financial results for the third quarter and nine months ended 30th October 2021. The company has also presented its business highlights.  

Third Quarter Financial Summary  

ULTA reported net sales of $2.0 billion for the fiscal third quarter of 2021. It represents an increase of 28.6% from $1.6 billion for the same three months of 2020. For the third quarter of 2021, gross profit grew $789.5 million. Gross profit was $545.5 million for the third quarter of fiscal 2020. Selling, general and administrative expenses were $503.4 million for the fiscal third quarter of 2021. 

Operating income raised by $284.2 million for the third quarter ended 30th October 2021. ULTA reported a net income of $215.3 million for the fiscal third quarter of 2021. Net income totaled $74.8 million for the third quarter of 2021. Diluted earnings per share increased to $3.94 from $1.32 in the fiscal third quarter of 2020. For the third quarter of fiscal 2020, adjusted diluted earnings per share were $1.64. 

Nine Months Earnings Report   

ULTA reported net sales of $5.9 billion for the nine months ended on 30th October 2021. It represents an increment of 49.3% from $4.0 billion for the nine months of fiscal 2020. For the nine months of fiscal 2021, operating income totaled $921.9 million. Operating income was $12.5 million in the same nine months of fiscal 2020.

ULTA reported a net income of $696.5 million for the first nine months of fiscal 2021. Gross profit grew $2.3 billion from $1.2 billion in the nine months ended 30th October 2020. Diluted earnings per share were $12.60 for the first nine months of fiscal 2021. Adjusted diluted earnings per share totaled $1.22 for the first nine months ended 30th October 2021.

Omeros Corporation (OMER) stock surged 11.00% in the current-market trading session at the price of $7.57 after it had signed a deal to sell OMIDRIA to Rayner Surgical Group Limited.

OMER is a commercial-stage biopharmaceutical firm. The company explores, produces, and commercializes protein therapeutics and small molecules that target immunologic diseases.

OMER Signed Agreement to Sell OMIDRIA 

On 2nd December 2021, OMER announced that it had signed a definitive deal to sell OMIDRIA to Rayner Surgical Group Limited. The transaction includes an upfront payment of $125 million with an additional commercial milestone payment of $200 million. The transaction is expected to close on 31st December 2021 and is subject to customary closing conditions.

As per the deal, Rayner will pay Omeros royalties on the U.S. net sales of OMIDRIA. Omeros Corporation will receive a 15% royalty rate on OMIDRIA net sales on a country-by-country basis.

OMER Third Quarter 2021 Financial Results 

On 9th November 2021, OMER announced its financial results for the third quarter ended on 30th September 2021. The company has also provided its recent business highlights.

Financial Summary 

OMER calculated revenue of $30.0 million for the third quarter ended 30th September 2021. It represents a gain of $1.2 million, or 4.1%, from $28.8 million for the second quarter of 2021. The increase in the third quarter of 2021 reflects growth in the sales of OMIDRIA.

For the third quarter of 2021, OMER reported a net loss of $22.7 million, or per share of $0.36. It includes $6.4 million in non-cash expenses. Net loss totaled $28.6 million, or per share of $0.46, for the second quarter ended 30th June 2021.  On 30th September 2021, the company reported cash, cash equivalents, and short-term investments of approximately $50.4 million.

For the third quarter ended 30th September 2021, OMER’s expenses were $48.3 million. The company reported total costs of $52.8 million for the previous quarter ended on 30th June 2021. Lower charges during the third quarter resulted from less preclinical research and development expenses.

Contango Oil & Gas Company (MCF) stock plunged 8.99% in the pre-market trading session at the price of $3.44 despite no fundamental reason. The last published news was its earnings report for the three months ended on 30th September 2021.   

Contango Oil & Gas Company (MCF) is an independent oil and natural gas firm based in Texas. It aims to maximize production and cash flow from its onshore properties located in the Permian, Midcontinent, Rockies, and other smaller coastal areas. The company utilizes its cash flow to explore, produce, and procure oil and natural gas properties in the United States. 

MCF Third Quarter 2021 Financial Results 

On 15th November 2021, MCF published its financial results for the third quarter ended on 30th September 2021 and provided business updates. 

MCF Financial Highlights  

For the three months ended 30th September 2021, the net loss totaled $15.2 million, or per basic and diluted share of $(0.08). MCF reported a net loss of $6.8 million, or per basic and diluted share of $(0.05), for the same quarter of 2020. Pre-tax net loss totaled $16.3 million for the three months ended on 30th September 2021. For the third quarter of 2020, the company reported $6.1 million in a pre-tax net loss.  

MCF reported revenues of approximately $99.9 million for the third quarter of 2021. The revenue totaled $31.3 million for the three months ended on 30th September 2020. For the three months ended 30th September 2021, production sales were roughly 2.4 MMBoe or 26.4 MBoe per day. Production sales were 1.6 MMBoe, or 17.2 MBoe per day, for the third quarter of 2020. Average weighted shares outstanding totaled 199.1 million for the third quarter of 2021.  

For the three months ended 30th September 2021, MCF reported operating expenses of $44.9 million. Operating expenses were $14.6 million for the three months ended on 30th September 2020. For the three months ended 30th September 2021, general and administrative expenses totaled $14.6 million, or $6.02 per Boe. General and administrative expenses were $8.7 million, or $5.48 per Boe, for the third quarter of the last year.