Author: Mahnoor Shah

Taoping Inc. (NASDAQ: TAOP) stock declined by 4.68% at last close whereas the TAOP stock-price gains by 5.66% in the after-hour trading session. Taoping Inc. is a prominent blockchain and smart cloud technology company. The company is focused on blockchain technology and digital assets study and implementation.

TAOP stock’ Recent Development

Taoping has recently revealed that Information Security Technology (China), TAOP’s wholly owned Chinese subsidiary, has practised its opportunity to purchase 100 percent equity interests in iASPEC Technology Group, which is a variable interest entity of the Company, from iASPEC’s only shareholder, Mr. Jianghuai Lin, the Company’s Chief Executive Officer and Chairman.

A purchase option agreement between iASPEC, iASPEC’s stockholders, and IST was signed on July 1, 2007. iASPEC’s shareholders awarded IST or its designee(s) an exclusive, irreversible option to buy all or a portion of iASPEC’s equity holdings for a principal amount of $1,800,000, in the total, under this contract.

What now?

TAOP and IST executed the acquisition option and signed an equity transfer deal with iASPEC and Mr. Lin, iASPEC’s only shareholder, on September 18, 2021. Mr. Lin decided to sell and transfer to IST all of the equity interest in iASPEC, along with any and all rights and advantages pertaining to it, in consideration for 612,245 unregistered ordinary shares of the Company with no par value. This is computed by dividing $1,800,000 by the volume-weighted average closing price of Ordinary Shares for the five trading days preceding September 18, 2021.

All the parties involved in the agreement came to same conclusion that the equity transfer agreement’s transactions would close on the day that the parties completed the necessary PRC government registration to effect the transfer of the equity interests.

Furthermore,

In addition, as part of its worldwide expansion plan, the Company moved its global corporate headquarters from Shenzhen, China to Hong Kong. As a consequence, the Company’s executive offices are currently located at Citicorp Centre, Unit 3102, 31/F, 18 Whitefield Road, Hong Kong. TAOP’s regional headquarters in Mainland China will be in Shenzhen.

Meredith Corp. (NASDAQ: (MDP) stock rises by 26.79% during the current market trading session. Meredith Corporation, located in Des Moines, Iowa, is an American media giant. Magazines, television channels, the internet, and radio stations are all owned by the firm.

MDP stock’ Significant Development

People en Espanol’s Festival En Casa, produced by Meredith Corporation, is back online this year to highlight industry leaders and celebrities who are having a good influence in their communities. The free popular entertainment program will be live broadcast on PeopleEnEspanol.com on Friday, October 15th from 7 p.m. to 9 p.m. EST.

Film, television, beauty, community projects, and health and wellbeing will all be discussed by panellists. Delightful Q&A sessions with iconic television presenter Don Francisco and actor and activist Roberto Manrique, as well as an intimate conversation with TV’s most beloved starring actor and producer Guy Ecker, are among the topics discussed. Also Alejandra Espinoza, a TV host, will offer professional beauty advice. Dayanara Torres, actress, model, and author, gives a demonstration of delectable Latin dishes.

Furthermore,

Actress and performer Ariana Debose, show runner and executive producer of Amazon Prime Video’s With Love, Gloria Calderon Kellett, and creator and executive producer of Santiago of the Seas on Nickelodeon, Niki Lopez, will conduct an in-depth discussion about Latinas in Hollywood and how they’re paving the direction for new generations in the business. Festival En Casa will also include community leaders such as Janet Sanchez, founder and president of Esposas Militares, Frankie Miranda, president of Hispanic Federation, and Sarahi Espinosa, creator, and CEO of DREAMers Roadmap.

People en Español’s publisher, Monique Manso stated,

Their long-term aim is to try to uplift the Latino community by providing a virtual environment where they may hear from their favourite celebrities, listen to special live concerts, and be motivated to become change makers in their own areas.

The9 Limited. (NASDAQ: (NCTY) stock gained by 1.30% at the last close whereas the NCTY stock price declines by 6.95% in the pre-market trading session. The9 Limited is a 2004 NASDAQ-listed Internet firm. The9 aspires to be a global, high-tech, diverse Internet corporation.

NCTY stock’ Current Development

The9 Ltd. Has decided to create an ecosystem collaboration on two very important platforms which are The9’s Non-Fungible Token (NFT) platform NFTSTAR and GameFi Play-to-Earn projects.

In August 2021, The9 introduced NFTSTAR as one of its key operations. NFTSTAR is a community and trading platform for NFTs that allows users to buy, sell, and engage in interactive activities. NFT collections formed by licenced IPs of global stars will be available on the platform. Users may purchase and own limited edition NFT collections from celebrities. Each NFT collectable has its own blockchain history, and users will be able to acquire ownership of these unique NFT collectibles by purchasing them on the platform or exchanging them on NFTSTAR’s marketplace. To make it easier for mainstream customers to join, NFTSTAR will allow a variety of payment options, including credit cards. The formal launch of NFTSTAR is scheduled in the fourth quarter of this year.

Furthermore,

The three parties have created an ecosystem partnership on NFTSTAR and GameFi projects, which includes but is not limited to:

• Polygon will be the prime focus of public blockchain to fund the technical management and operation of The9’s NFTSTAR platform and the GameFi projects produced by The9.
• NFT collectibles on the NFTSTAR platform will be kept on the IPFS and Filecoin networks, utilising decentralised mechanisms to improve the security of NFT goods.
• The three parties will begin talks to establish a GameFi fund, which will look for promising GameFi initiatives to invest in and assist financially and technically. The three parties will also work together to find new fund partners and continue to look for possible investment opportunities throughout the world.

CalAmp Corp. (NASDAQ: CAMP) stock gained by 5.07% at last close whereas the CAMP stock-price declines by 9.19% in the pre-market trading session. CalAmp is a connected intelligence firm that makes it easier for people and companies to work together more effectively. They work with companies in the transportation and logistics, industrial equipment, government, and automotive industries to provide data that helps them make better decisions.

CAMP stock’ Financial Highlights

CalAmp announced financial results for its second quarter of fiscal year 2022. Given below are the highlights:

• The company reported $79 million in revenue which is a rise of 6%.
• Due to S&SS revenue growth and product mix, gross margin increased by 150 basis points to 42 percent.
• The net loss from ongoing operations was $5.4 million, or $0.15 per share, according to GAAP.
• Non-GAAP net income was $2.9 million, or $0.08 per diluted share, on an adjusted basis.
• Adjusted EBITDA was $8.3 million, or 11 percent of revenue, compared to $5.0 million, or 7 percent of revenue the year before.
• Including the Automotive Vehicle Finance division, total S&SS subscribers were 988,640, up 4% from the previous quarter.
• Cash and cash equivalents were $101.1 million at the end of the quarter.

Jeff Gardner, CalAmp’s president and CEO stated,

In their Software and Subscription Services business, they saw another quarter of robust revenue growth, which helped to boost their consolidated gross margin. The first conversion of a few critical clients to their new CTC platform, as well as the completion of a big trailer refit programme, all of which are recurring subscription contracts, were key to this achievement. Furthermore, they began to receive orders from throughout the world in support of the 3G-to-4G transition, but supply chain component shortages have restricted their ability to completely ship against their backlog.

Future Expectations

Because visibility into product shipments remains unpredictable owing to global component supply constraints, the Company will continue to refrain from offering quarterly guidance.

Theratechnologies Inc. (NASDAQ: (THTX) stock gained by 7.2% at last close while the THTX stock soars as high as 4.73% in the after-hours trading session. Theratechnologies is a pharmaceutical business that specializes in the discovery and marketing of novel treatments for unmet medical needs.

THTX stock’ Current Update

A research testing an intravenous (IV) push mode of administration of Trogarzo for the cure of Human immunodeficiency virus type 1 (HIV-1) infection showed consistent and highly significant results, according to Theratechnologies. There was no change in pharmacokinetics (PK) between IV Push and IV Infusion, according to the findings. A supplemental Biologics License Application (sBLA) is planned to be submitted to the FDA in the fourth quarter of 2021 based on these findings.

The TMB-302 study was performed by the Company’s partner, TaiMed Biologics (TaiMed). They wanted to insure the adequacy and comparability of the existing Trogarzo IV treatment modality with a more convenient IV Push form of administration. It can be injected in 30 seconds without dilution versus the original IV Infusion’s 15-minute infusion time.

Furthermore,

As part of the TMB-302 research, Theratechnologies and TaiMed are now studying an intramuscular (IM) route of administration for Trogarzo, with patient testing, scheduled for the fourth quarter of 2021. Theratechnologies will lead and fund the research, with help from TaiMed. Theratechnologies is allowed to market the novel IV Push and IM methods of administration of Trogarzo under the conditions of the contract with TaiMed, if and when they are authorized.

Paul Levesque, President and CEO of Theratechnologies,

These findings show that the IV Push technique of Trogarzo administration is a viable alternative to the existing IV Infusion approach. Patients benefit from a faster infusion time with this more efficient IV Push form of administration, which only takes two short infusions each month. They are optimistic that the quicker infusion will improve patient cooperation, enables patients to benefit from long-acting antiretroviral treatment when Trogarzo is combined with other antiretrovirals.

SINTX Technologies Inc. (NASDAQ: SINT) stock gained by 4.84% at last close while the SINT stock price rises by 2.31% in the pre-market trading session. SINTX Technologies is a customized ceramics manufacturer that creates and sells sophisticated ceramics for medical and non-medical purposes.

SINT stock’ Current Update

The National Institute of Health (NIH) has granted SINTX Technologies $308,301 Phase 1 funding to build a 3-D printed composite silicon nitride – polyetheretherketone (SN-PEEK) spinal implant. This research funding from the National Institutes of Health (NIH) focuses on the antibacterial and osseointegrative characteristics of silicon nitride and is SINTX’s first NIH grant.

PEEK-based spinal implants are preferred because of its long-standing security and utility profile, accounting for about 40% of the $10 billion worldwide spine industry. SINTX hopes to capitalise on the advantages of PEEK while also incorporating the antibacterial and osteoconductive properties of silicon nitride through the creation of 3D printed SN-PEEK implants. This will be accomplished through the use of contemporary, cost-effective 3D printing techniques.

In the next 9-11 months, SINTX will work with Drexel University, Thomas Jefferson University, and the University Of Pennsylvania School Of Veterinary Medicine to create a 3D printed SN-PEEK composite spinal implant that fulfils the American Society for Testing and Materials’ static loading demands, as well as characterise its antibacterial activity and impact on osteoblast proliferation and maturation. The National Institutes of Health’s Department of Health and Human Sciences funded the research presented in the “3D Printed Silicon Nitride Porous PEEK Composite Spinal Cages for Anti-Infection” proposal with award number R41GM146268-01.

Dr. Sonny Bal, President, and CEO, SINTX Technologies stated,

Dr. Steven Kurtz, Dr. Noreen Hickok, and Dr. Thomas Schaer all contributed significantly to the proposal, and they appreciate their continuing support. The NIH funding is a significant step toward incorporating silicon nitride’s antibacterial and osseointegrative characteristics into SN-PEEK composite structures. This NIH-funded study is an essential step in their aim to develop a new generation of unique spinal implants for potential partners from a commercial viewpoint.

Benitec Biopharma Inc. (NASDAQ: (BNTC) stock surged by 8.82% at last close while the BNTC stock-price gains by 0.49% in the pre-market trading session. Benitec Biopharma, based in Hayward, California, is a development-stage biotechnology firm focusing on the discovery of new genetic therapies.

BNTC stock’ Financial Highlights

Benitec Biopharma announced its financial outcomes for full year fiscal 2021. Given below is the summary:

• Net Revenues for the fiscal year ended June 30, 2021 were $59,000, opposed to $102,000 for the fiscal year ended June 30, 2020. The drop in customer revenues is attributable to the present year’s fall in licencing and royalty income.
• Total costs for the fiscal year ending June 30, 2021 were $13.7 million, compared to $8.4 million for the same time in 2020. The major business expenses include royalties and licence fees, research and development costs, and general and administrative costs.
• In fiscal 2021, the deficit from operations was $13.9 million, relative to $8.3 million in fiscal 2020. The Company has $19.8 million in cash and cash equivalents at the end of fiscal year 2021.

Updates on the Company,

• The Company reported the completion of an underwritten public offering of ordinary stock and common stock equivalents on April 30, 2021. (The “April 2021 Capital Raise”). The offering netted the Company about $12.7 million in net revenues and about $14.3 million in net earnings.
• The Company announced the conclusion of an underwritten public offering of ordinary stock and common stock equivalents on October 6, 2020. (The “October 2020 Capital Raise”). The Company earned about $11.5 million in gross funds and $9.9 million in net earnings from the transaction.

Jerel A. Banks, Executive Chairman and CEO of Benitec Biopharma stated,

Their company has made great strides toward progressing BB-301 into clinical trials. You will continue to work to improve the lives of patients with Oculopharyngeal Muscular Dystrophy. They plan to use the ddRNAi system to address more fatal genetic diseases with large unmet medical needs in the near term.