STOCKS TELEGRAPH

Author: Iqra Jamal

  • Salarius Pharmaceuticals, Inc. (SLRX) Stock Plunged 8.98% Pre-Market, Here’s Why

    Salarius Pharmaceuticals, Inc. (SLRX) is down 8.98% in the pre-market trading session at the price of $0.82 despite any recent news.

    SLRX Presented at the Virtual Diamond Equity Research Emerging Growth Invitational

    SLRX CEO David Arthur presented virtually at the Diamond Equity Research Emerging Growth Invitational Conference on 17th August 2021. The conference details were initially announced on 12th August 2021. SLRX revealed that Registered conference attendees can access the presentation through the conference’s virtual platform. Conference registration was available free of cost.

    In the conference, Mr. Arthur presented a review of Salarius’ business and highlighted recent corporate and clinical accomplishments. Besides, he provided data about expected milestones in the clinical programs for seclidemstat. Moreover, Mr. Arthur has discussed the Phase ½ clinical trial initiated by MD Anderson Cancer Center to study seclidemstat combined with azacytidine.

    Second Quarter 2021 Financial Results

    On 5th August 2021, SLRX published corporate events and financial results for the second quarter ended 30th June 2021. CEO David Arthur remarked that the second quarter was a period of substantial growth for Salarius. Notably due to progress in clinical programs driving to multiple data readouts. Importantly, they ended the quarter with $33.1 million in cash and cash equivalents. They believe it is sufficient to support the achievement of the readouts in 2021 and 2022, he added.

    For the three months ended 30th June 2021, SLRX reported a net loss of $3.1 million or $0.07 per basic and diluted share. A net loss of $1.8 million or $0.13 per basic and diluted share was reported for the same period of 2020. The loss before other income for the quarter ended 30th June 2021 grew by $1.2 million compared to the loss before other income for the same period last year. It is primarily due to lower grant revenue and overall higher operating expenses. Net cash used for operating activities during this quarter of 2021 totaled $3.2 million. An increment of approximately $0.7 million compared to the same span last year. It is primarily due to higher overall spending during the second quarter of 2021.

    Addition of Fox Chase Cancer Center to Ongoing Trial of Seclidemstat

    On 13th July 2021, SLRX published that it had added Fox Chase Cancer Center to the ongoing trial of Seclidemstat. Seclidemstat is a novel, oral, and reversible inhibitor of lysine-specific histone demethylase 1. It plays a vital role in the development and progression of several cancers. It works to treat Ewing Sarcoma and FET-Rearranged Sarcomas. SLRX is developing a Phase ½ dose-expansion clinical trial. It is evaluating seclidemstat combined with the chemotherapy agents: topotecan and cyclophosphamide.

  • SunLink Health Systems, Inc. (SSY) Stock Surged 17.69% Pre-Market, Here’s Why

    SunLink Health Systems, Inc. (SSY) is up 17.69% in the pre-market trading session at the price of $3.06 despite any recent news.

    Fiscal 2021 Third Quarter Results and COVID-19 Updates

    On 14th May 2021, SSY declared a loss of $473,000 or $0.07 per fully diluted share from continuing operations for its third fiscal quarter ended 31st March 2021. A loss of $46,000 or $0.01 per fully diluted share from continuing operations was reported for the same quarter of 2020. Net loss for the quarter ended 31st March 2021 was $531,000 or $0.08 per fully diluted share. A net loss of $158,000 or $0.02 per fully diluted share was reported for the quarter ended 31st March 2020. Consolidated net revenues for the quarters ended 31st March 2021, and 2020 were $9,778,000 and $12,667,000, respectively. The drop was 22.8% in the third quarter of current fiscal year, compared to the comparable quarter of the previous fiscal year. Net revenue was reduced significantly in the current fiscal quarter due to limited hospitals and nursing home net revenues. Moreover, it was decreased due to Pharmacy segment revenues amid COVID-19 pandemic.

    SSY reported net earnings of $2,203,000 or $0.32 per fully diluted share for the nine months ended 31st March 2021. Net loss of $461,000 or $0.07 per fully diluted share reported for the nine months ended 31st March 2020. Earnings from continuing operations were $2,382,000 or $0.34 per fully diluted share for this period of 2021. Earnings from continuing operations were $14,000 or $0.00 per fully diluted share for the nine months ended 31st March 2020.

    SSY Published $2 Million Expansion, Capital, and Operating Improvements

    On 16th March 2021, SSY published that its wholly-owned subsidiary, Trace Regional Hospital, had implemented its Trace Forward Capital Plan worth roughly $2 million. The plan intends to develop, upgrade and improve its physical plant, patient care, ancillary services, and support areas. It covers an 8-bed expansion of its Pathways Care Program, which will bring Pathways to 26 total beds. The plan features acute care patient rooms with renewed support areas, a complete hospital-wide replacement, and an upgrade heating and air conditioning systems. Moreover, it has replaced a substantial part of its building roof, enhanced Women’s services equipment, new diagnostic equipment, additional information technology equipment, and improved IT security services.

    Executive in charge of the Pathways Care Program of Trace, Marianne Johnson, commented that the expansion and upgrade of their Pathways Care Program would help them meet the increasing demand for quality senior behavioral services. Additionally, Trace has added new ultrasound equipment and expanded telemedicine services to expand its existing digital mammography capabilities, he added.

  • TherapeuticsMD, Inc. (TXMD) Stock Surged 6.46% After-Hours, Here’s Why

    TherapeuticsMD, Inc. (TXMD) is up 6.46% in the after-hours trading session at the price of $0.81 despite any recent news.

    Appointment of Hugh O’Dowd as President

    On 9th August 2021, TXMD published the appointment of Hugh O’Dowd as President. He succeeded John C.K. Milligan, who was appointed as Chief Executive Officer of the company’s vitaCare Prescription Services business.

    CEO of TXMD Robert G. Finizio remarked that he was pleased to welcome Hugh as President of the company. Hugh has a significant operating and strategic history with various pharmaceutical companies. He worked for over 20 years at Novartis, where he had navigated some of the most challenging payor and commercial environments. He believes Hugh will be effective in building value for the company’s stockholders, he added.

    TXMD Published Second Quarter 2021 Financial Results

    On 4th August 2021, TXMD announced financial results for the second quarter ended 30th June 2021. Net loss for the second quarter of 2021 was $42.7 million or $0.11 per basic and diluted share. Net loss for the second quarter of 2020 was $52.0 million or $0.19 per basic and diluted share. For the first quarter of 2021, net loss was $39.4 million or $0.11 per basic and diluted share. Total net product revenue for the second quarter of 2021 increased by 17% over the first quarter of 2021 to $23 million. For the second quarter of 2020, the total net product revenue was $10.7 million. For the first six months of 2021, TXMD received $151.1 million in net proceeds from its at-the-market and underwritten equity offerings. After quarter-end, in July 2021, the company got an additional $31.8 million in net proceeds from its at-the-market offering.

    CEO of TXMD Robert G. Finizio commented that they keep on making steady growth in compliance with their expectations related to ANNOVERA and IMVEXXY driving prescription growth, net margins, and broader patient access. Importantly, they are observing improved access to health care providers for their sales force and expansion of their relations in the telemedicine channel. They believe they are well-positioned to grow their products across all channels. Their overall volumes and net revenues remained very healthy, and vitaCare prescription services are building the foundation for growth in the future. The vitaCare currently signed its third customer contract and has a strong pipeline of more than 30 potential customers, he added.

    Submission of BIJUVA New Drug Application to FDA

    On 25th May 2021, TXMD published that it had submitted a supplemental New Drug Application for BIJUVA capsules to the U.S. Food and Drug Administration. The company hopes to get the approval of the sNDA upon receipt of the Filing Review Notification from the FDA, almost 74 days after submission. If the drug is accepted, the review time under the Prescription Drug User Fee Act (PDUFA) will be within ten months of receipt by the FDA.

    CEO Robert G. Finizio stated that they are happy about the submission of their sNDA of low-dose BIJUVA. They believe that low-dose BIJUVA will be an essential therapeutic option for women. They look forward to delivering it to market, he added.

  • VIPS Stock Plunged 5.25% Today, Here’s Why

    Vipshop Holdings Limited (VIPS) is down 5.25% in the current-market trading session at the price of $13.89 after the announcement of second-quarter 2021 financial results.

    Second Quarter 2021 Financial Results

    On 18th August 2021, VIPS published its unaudited financial results for the second quarter ended 30th June 2021. Net revenue for the second quarter of 2021 gained 22.8% year-over-year to RMB29.6 billion (US$4.6 billion). Total net revenue of RMB24.1 billion was reported in the same quarter of 2020. Gross profit for the second quarter of 2021 grew 20.6% year over year to RMB6.0 billion (US$922.6 million) compared to RMB4.9 billion in the prior-year same period. The number of active customers for Q2 2021 increased by 32% YoY to 51.1 million from 38.8 million in the same quarter of 2020. Total orders for the second quarter of 2021 grew by 30% year over year to 221.5 million from 170.5 million in the prior-year same quarter.

    Eric Shen, CEO of VIPS,  remarked that in the second quarter of 2021, they maintained solid business momentum through the robust performance of their merchandising strategy. They noticed healthy trends across their core operating metrics. They have continued their value proposition to make them a discount platform of choice for brand partners. Their capability to offer a variety of quality products to customers at competitive prices will further solidify their leading position in China’s discount retail market, he added.

    First Quarter 2021 Earnings Report

    On 19th May 2021, VIPS published its unaudited financial results for the first quarter ended 31st March 2021. Total net revenue for the first quarter of 2021 grew by 51.1% year over year to RMB28.4 billion (US$4.3 billion). Revenue reported in the prior-year same period was RMB18.8 billion. Gross profit for the first quarter of 2021 improved by 54.7% year over year to RMB5.6 billion (US$853.9 million) compared to RMB3.6 billion in the same quarter of 2020. The number of active customers this quarter increased by 54% year over year to 45.8 million. Total orders for the first quarter of 2021 increased by 44% year over year to 175.5 million from 121.7 million the same quarter the previous year.

    VIPS Filed 2020 Annual Report on Form 20-F

    On 16th April 2021, VIPS disclosed that it had filed its annual report on Form 20-F. The annual report had covered the company’s audited financial statements for three years ended 31st December 2020. The annual report is available on the company’s official website. According to the instructions provided on the website, holders of the company’s securities can request a copy of the annual report free of cost.

  • STG Stock Surged 3.99% Pre-Market, Here’s Why

    Sunlands Technology Group (STG) is up 3.99% in the pre-market trading session at the price of $0.60 after the announcement of second quarter 2021 financial results.

    Second Quarter 2021 Financial Results

    On 18th August 2021, STG published its unaudited financial results for the second quarter ended 30th June 2021. Net revenues were RMB629.5 million (US$97.5 million), indicating a 22.8% rise year-over-year. Gross profit was RMB532.2 million (US$82.4 million), denoting a 28.9% gain year-over-year. Net income was RMB22.1 million (US$3.4 million) in the second quarter of 2021. A net loss of RMB126.1 million was recorded in the same quarter of 2020. New student registrations were 86,602, representing a 4.8% rise year-over-year.

    CEO Mr. Tongbo Liu remarked that they were happy with their second quarter 2021 performance. Their net revenue rose 22.8% year-over-year to RMB629.5 million. New enrollments remained comparatively steady at 86,602. They had achieved a record net profit of RMB22.1 million, propelled by their constant cost reduction and business adjustment efforts, he added.

    First Quarter 2021 Financial Results

    On 25th May 2021, STG declared its unaudited financial results for the first quarter ended 31st March 2021. Net revenues were RMB694.3 million (US$106.0 million), denoting a 22.9% gain year-over-year. Gross profit was RMB587.9 million (US$89.7 million), a 25.6% rise year-over-year. Net loss was RMB53.3 million (US$8.1 million), depicting a 18.7% drop year-over-year. New student enrollments were 145,525, representing a 107.6% increase YoY.

    CEO Mr. Tongbo Liu commented that they were motivated by their first quarter operational and financial metrics. Their net revenues improved 22.9% year-over-year to RMB694.3 million in the Q1 of 2021. The new registrations climbed to 145,525, a 107.6% year-on-year increase. This incredible performance had driven by their continued struggles to broaden product offerings, boost brand awareness and improve student satisfaction, he added.

    STG Announced Changes in Board of Directors

    On 25th March 2021, STG revealed the appointment of Ms. Jing Gao to the company’s Board of Directors. Mr. Xiaochuan Wang had given resignation from the position of an independent director and a member of the audit committee. Mr. Zheng Du and Mr. Gaoneng Ji had also submitted their resignation as a member of the Board. All changes in board members became effective from 24th March 2021. Ms. Gao has near 16 years of work experience in his field. He remained in different managerial positions in various departments of Sunland. Moreover, he has strong and keen insights into the Chinese adult continuing education market and in-depth experience in team management.

  • METX Stock Surged 17.75% Pre-Market, Here’s Why

    Meten Edtechx Education Group Ltd. (METX) is up 17.75% in the pre-market trading session at the price of $0.61 despite any recent news.

    METX Scheduled its Second Quarter 2021 Earnings Report

    METX, on 11th August 2021, reported that it had scheduled the second-quarter 2021 financial results on 18th August 2021. The earnings conference call will be hosted by management at 8:00 am U.S. Eastern Time to discuss the financial results.

    METX to Launch Adult Overseas Higher Education Services

    On 5th August 2021, METX declared that the company had planned to start online adult overseas higher education services in the Fall of 2021. Registration for the Services will initially commence in Beijing, Guangzhou, Shenzhen, Chengdu, Chongqing, Foshan, Wuhan, and Nanjing. Later, it will be expanded throughout China in the Spring of 2022.

    Starting online overseas higher education services complies with The Regulations on the Implementation of the Non-state Education Promotion Law of the People’s Republic of China. The services will be effective from 1st September 2021. As per the regulations, China will encourage private schools to perform educational activities online by leveraging Internet technology. Online overseas higher education services will provide adjustable learning methods and a learning-friendly curriculum for students pursuing higher education degrees from overseas institutes. These services will help the students to register in courses independently without China’s Unified National Graduate Entrance Examination. Resultantly, it will save time for executives and entrepreneurs.

    Increment in Gross Billing & Students Enrollment

    On 21st July 2021, METX published the growth in its gross billing and student enrollment of junior ELT business. The increment in gross billing was 316.9% in the first half of 2021. An increase of 97.9% had reported in the same period of 2020. The student enrollment was increased by 240.9% compared to 64.4% in the same period of last year. The gross billing of the company’s junior ELT business in June 2021 grew by 97.5% YoY and 21.3% compared with the same period in 2019. These statistics prove that the company has returned to its pre-pandemic growth trajectory.

    METX is constantly improving its junior ELT business within its current network of 22 cities and has already earned positive market response. The gross billing from student renewals and referrals accounted for 54.5% of the total gross billing of the company’s junior ELT business in June 2021. It confirms that the company’s services have been broadly appreciated and accepted by students and their parents. The company intends to keep developing the business of junior quality-oriented education.

  • Pioneer Power Solutions, Inc. (PPSI) Stock Surged 6.44% After-Hours, Here’s Why

    Pioneer Power Solutions, Inc. (PPSI) is up 6.44% in the after-market trading session at the price of $3.80 despite any recent news.

    Date Confirmation of One-Time Cash Dividend

    On 15th June 2021, PPSI confirmed that its Board of Directors announced a one-time special cash dividend of $0.12 per common share on 1st June 2021. The cash had paid to shareholders on 7th July 2021. This cash dividend resulted in an aggregate distribution slightly exceeding $1 million, based on the current number of shares outstanding.

    PPSI Joined Russell Microcap Index

    On 8th June 2021, PPSI announced that it was all set to join the Russell Microcap Index after the 2021 Russell indexes annual reconstitution. The inclusion became effective after the US market opened on 28th June 2021.

    Membership in the Russell Microcap Index remains effective for one year. It means automatic incorporation in the proper growth and value style indexes. FTSE Russell defines membership for its Russell indexes principally by objective, market-capitalization rankings, and style attributes. Russell indexes are broadly used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. About $10.6 trillion in assets benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, which is a front-line global index provider.

    PPSI Introduced PowerBloc in Response to Industrial Demand

    On 2nd June 2021, PPSI declared that it had introduced a new integrated power systems solution, PowerBloc. The function of PowerBloc is to address customer demands in the fast-growing electric vehicle charging infrastructure market.

    Moreover, PPSI had extended and expanded its deal with CleanSpark, Inc. As per the deal, Pioneer Power had increased the rights to use CleanSpark’s proprietary software, mPulse, and GridFabric OpenADR solution. Besides, CleanSpark acquired rights to serve as a preferred distributor of PowerBloc.

    Burgeoning Backlog with New Order over $1 Million

    On 14th April 20201, PPSI revealed that it had expanded its product footprint with one of the world’s biggest mass-market retailers with an incredible equipment order worth $1.1 million. The backlog of orders at the Company’s Transmission & Distribution Solutions business segment grew almost 34% from $7.6 million on 31st March 2020.

    PPSI would join and support a custom turnkey system. This system consists of Automatic Transfer Switches, specialty controls, and circuit protection equipment. The order, sold through the company’s channel partner CleanSpark, is anticipated to be delivered by the end of the year 2021. The stores are expected to have larger and faster rollouts in the coming future. Pioneer’s products had already been placed at 40 retail store locations.

  • BHP Group (BHP) Stock Plunged 8% Current-Market, Here’s Why

    BHP Group (BHP) is down 7.94% in the current market trading session at the price of $69.80 after the announcement of the full-year 2021 earnings report.

    BHP Reported Full Year 2021 Financial Results

    On 17th August 2021, BHP released its operating and financial results for the year ended on 30th June 2021. The report disclosed an attributable profit of $11.3 billion. It included an exceptional loss of $5.8 billion. The company has announced a record final dividend of $2.00 per share, bringing BHP’s return of more than $15 billion to the stakeholders for the full year 2021.

    Underlying attributable profit of $17.1 billion was reported for the year 2021. It reflected higher commodity prices and strong operational performance. Underlying EBITDA of $37.4 billion was recorded. It was driven primarily by higher iron ore and copper prices, record volumes at WAIO, and additional volumes from the Spence Growth Option.

    Funding Assistance for Renova Foundation

    BHP stated that it remained devoted to funding the Renova Foundation to progress the remediation and compensatory programs. These programs are meant to restore the atmosphere and reestablish societies affected by the Samarco tragedy. BHP has reported a total income statement charge of $1.2 billion given to the Samarco dam failure for the 2021 year. Compensation and financial assistance of approximately R$4.7 billion have been paid to support approximately 336,000 people affected by the Fundão dam failure. Resettlement of communities continued to advance regardless of the ongoing Covid-19 pandemic.

    Woodside and BHP Created a Global Energy Company

    On 17th August 2021, BHP Group announced that it has entered into a merger agreement with Woodside Petroleum to combine oil and gas portfolios by all stock-mergers to create a global top independent energy company.

    According to the deal, the company’s all oil and gas resources would merge with Woodside. Woodside would own 52% of the existing Woodside share and 48% would be owned by existing BHP’s shareholders. The transaction is subject to due diligence, negotiations, and satisfaction of conditions. The merged company will have a high-margin oil portfolio, long-life LNG assets, and the financial resilience to help the energy supply needed for global growth and development.

    BHP Approved Investment in Jansen Potash Project

    BHP ratified $5.7 billion in capital expenditure for the Jansen stage 1 potash project. CEO Mike Henry remarked that Jansen is in line with its strategy to expand exposure to future-facing commodities in world-class assets.  This is an important milestone for BHP and will be valuable for shareholders for generations, he added.

  • TAL Education Group (TAL) Stock Plunged 5.00% Pre-Market, Here’s Why

    TAL Education Group (TAL) is down 5.00% in the pre-market trading session at the price of $4.94 after the announcement of the 2021 annual general meeting of stakeholders.

    2021 Annual General Meeting of Stakeholders

    On 16th August 2021, TAL revealed that it would hold its annual general meeting of shareholders on 23rd August 2021. All beneficial owners of the company’s ADSs are invited to attend the meeting personally. Meeting will take place at 15/F Danling SOHO, No. 6 Danling Street, Haidian District, Beijing. No proposal will be submitted for shareholder approval during the annual general meeting. Instead, the conference will serve as an open platform for shareholders and beneficial owners to discuss the company’s affairs with management.

    TAL Canceled Scheduled Earnings Conference Call

    TAL Education Group, on 30th July 2021, published that it had canceled the earnings conference call and live webcast for the first quarter of the fiscal year 2022. It was previously scheduled on 5th August 2021, at 8:00 a.m. U.S. Eastern Time. The Company will provide further updates at a suitable time in the future.

    Update on New Educational Regulations

    On 25th July 2021, TAL reported that China’s official state media announced the Opinions on Further Alleviating the Burden of Homework and After-School Tutoring for Students in Compulsory Education. The regulations concerning after-school tutoring services related to school subjects taught in China’s education system were disclosed earlier by several English and Chinese media outlets on 23rd July 2021. The regulations had previously issued by the General Office of the CPC Central Committee and the General Office of the State Council.

    Following the policy directives of the Opinion, TAL Education Group will continue to obey all applicable rules and regulations in providing educational services. The Opinion included high-level policy directives about requirements and restrictions related to after-school coaching services. It provided that institutions providing after-school tutoring services on academic subjects in high schools must follow the fee standards established by relevant authorities. All AST Institutions are advised to register themselves as non-profit organizations. No approval will be granted to unregistered AST Institutions. Moreover, AST Institutions are forbidden from providing teaching services on academic subjects during public holidays, weekends, and school breaks.

  • Qualigen Therapeutics, Inc. (QLGN) Stock Plunged 20.36% Pre-Market, Here’s Why

    Qualigen Therapeutics, Inc. (QLGN) is down 20.36% in the after-market trading session at the price of $1.33 despite any recent news.

    Submission of Investigational New Drug Application for QN-165

    On 14th July 2021, QLGN revealed the submission of an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) for Qualigen’s QN-165. The drug targets hospitalized patients with symptoms of COVID-19. It is an antiviral drug candidate to deal with antiviral activity in multiple in vitro assays against viruses.

    CEO Michael Poirier of QLGN stated that they are delighted to reach this milestone of submitting their first IND application to the FDA on their most advanced therapeutics program. The submission of Phase 1b/2a clinical trials for QN-165 signifies another step in the evolution from a globally licensed and commercially successful diagnostics company to a clinical-stage therapeutics company. QN-165 is a novel drug candidate with a completely different approach to combating a virus. It will be able to deal with all virus strains and variants. QN-165 is synthetic DNA that does not attack the coronavirus directly. Instead, it targets and attaches to the nucleolin protein to enter cells that overexpress nucleolin. Viruses such as SARS-CoV-2 exploit nucleolin to gain access to a cell and manipulate it for viral replication, he added.

    QLGN Disclosed Inclusion in Russell Microcap Index

    On 8th June 2021, QLGN published that it would be added to the Russell Microcap Index after the 2021 Russell indexes annual reconstitution. According to a preliminary list of additions posted in June, the inclusion became effective from 28th June 2021. Russell indexes are broadly utilized by investment managers and institutional investors for index funds and as benchmarks for active investment policies. Membership in the Russell Microcap Index implies automatic inclusion in the proper growth and value indexes. FTSE Russell defines membership for its indexes primarily by objective, market-capitalization rankings, and style attributes.

    CEO Michael Poirier of QLGN remarked on the inclusion of Qualigen Therapeutics in the widely referenced Russell Microcap Index. It indicates the company’s progress toward advancing its promising oncology and viral disease pipeline programs, he added.

    Appointment of Tariq Arshad as Chief Medical Officer

    On 19th May 2021, QLGN declared the appointment of Tariq Arshad to the position of Chief Medical Officer. Dr. Arshad is an oncologist with work expertise in both early and late-stage clinical development at leading and emergent biopharmaceutical firms. He brought more than 20 years of biotech and pharmaceutical experience to the company. CEO Michael Poirier remarked that they are delighted to welcome Tariq to Qualigen as Chief Medical Officer. He will serve in a mission-critical position as they are advancing their oncology and viral infection pipeline programs.