Author: Mahnoor Shah

Gritstone Bio Inc. (NASDAQ: GRTS) stock plunged by 3.9% at last close whereas the GRTS stock price rises by 5.29% in the after-hours trading session. Gritstone Bio is basically a medical biotechnology business which is working on next-generation immunotherapies for a variety of cancers and infectious disorders.

GRTS stock’ Significant Update

The first participant in a Phase 1 experiment has been dosed, according to Gritstone bio, Inc. The purpose of the experiment is to see how effective GRT-R910, a self-amplifying mRNA (SAM) second generation SARS-CoV-2 vaccine, is. The vaccine aims to improve and broaden the immunogenicity of first-generation COVID-19 vaccinations in people aged 60 and up. The University of Manchester and Manchester University NHS Foundation Trust in the United Kingdom are collaborating on this single-center study.

Gritstone’s CORAL programme includes the GRT-R910. It’s a second-generation COVID-19 vaccination technology that delivers a broad collection of antigens against SARS-CoV-2 using a SAM vector built with lipid nanoparticles. This contains both stable spike proteins and viral protein sections. It contains highly conserved T cell epitopes. Increased duration and amount of antigen synthesis with SAM vaccines may allow for lower vaccine doses and obviate the necessity of repeat administrations due to self-amplification. It also has the ability to elicit powerful, long-lasting, and widespread immune responses across all SARS-CoV-2 variants in a safe manner.

Moreover,

Professor Andrew Ustianowski will be the local lead investigator for this study. He is known as the Clinical Lead for the NIHR COVID Vaccine Research Programme, Consultant in Infectious Diseases and Tropical Medicine at North Manchester General Hospital (part of MFT), and Honorary Clinical Chair at The University of Manchester. Professor Ustianowski is the study’s Chief Investigator, and MFT is the primary site.

Andrew Allen, co-founder, president and CEO of Gritstone stated that,

The SAM COVID vaccine generates strong CD8+ T cell responses. Also it has powerful neutralising antibody responses. It also promises longer-lasting immunity, especially in groups that are more vulnerable. GRT-R910 is developed in a way that it has extensive therapeutic benefits against a variety of SARS-CoV-2 subtypes. For this, GRT-R910 produces exceptional conserved viral proteins that may be less susceptible to antigenic drift.

Steelcase Inc. (NASDAQ: (SCS) stock gained by 1.75% at last close whereas the SCS stock-price plunge by 4.79% in the after-hours trading session. With the company’s exceptional architecture, furniture, and technology solutions, leading businesses throughout the world trust Steelcase to help them develop offices that are safe, efficient, inspiring, and versatile.

SCS stock’ Financial Highlights

Steelcase reported financial results for its second-quarter fiscal 2022. Here are the highlights:

• For the second quarter fiscal 2022, the company generated revenue of $724.8 million compared to the $818.8 million in revenue for the previous year. Also, the net income totalled for Q2 fiscal 2022 was $24.7 million or $0.21 per share relative to $55.5 million or $0.47 per share for Q2 fiscal 2021.
• Operating income in the second quarter was $33.9 million, down from $88.6 million, and adjusted operating income of $104.2 million in the previous year, except for the effect of restructuring expenditures in the Americas.
• The second quarter’s gross margin of 28.5 percent was down 440 basis points from the prior year, which had $6.9 million in restructuring charges in the Americas. In the Americas, gross margin fell by 550 basis points, rose by 120 basis points in EMEA, and fell by 420 basis points in the other category.
• At the end of the second quarter fiscal 2022, total liquidity, which included cash and cash equivalents as well as the cash surrender amount of company-owned life insurance, totalled $530.5 million. There was a debt burden of $484.5 million.

Jim Keane, president, and CEO commented,

Their 24% order growth in the second quarter was higher than projected, and orders in some areas of the business neared or surpassed fiscal 2020 levels. They had to prolong lead times and postpone some shipments as a result of a number of industry-wide supply chain interruptions, which had an adverse influence on the second-quarter sales. As a consequence of the delays, no large order cancellations have occurred.

PAVmed Inc. (NASDAQ: (PAVM) stock surged by 1.61% at last close while the PAVM stock price rises by 11.33% in the after-hours trading session. PAVmed Inc. is a multi-product, advertising medical technology business with a varied product portfolio targeting unmet clinical needs across a wide range of clinical domains with appealing regulatory pathways and market potential.

PAVM stock’ Significant Development

Microsoft for Startups, a global initiative committed to speeding the trajectory of start-ups, has approved PAVmed’s major subsidiary Veris Health Inc. into its programme. Veris also reported that it has signed a final services deal to create its remote digital healthcare platform with Loka Inc., a prominent full-service Silicon Valley-based full-stack software development company.

Veris will get access to Microsoft technology, training, and business support as a member of the Microsoft for Startups programme. Loka will develop the Veris platform on Microsoft Azure, which will incorporate Azure AI and Machine Learning clinical analytics, Azure IoT patient monitoring, and a variety of additional cutting-edge healthcare items and services.

Lishan Aklog, PAVmed’s Chairman and CEO and Veris’ Executive Chairman stated,

Veris Health, their new digital health business, has been entered into the Microsoft for Startups programme, joining a select group of organisations from throughout the world. They intend to take full advantage of their partnership with Microsoft to ensure that the Veris platform is equipped with the most slashing technologies for remote health monitoring and data analytics, along with machine learning and artificial intelligence, in order to facilitate and optimise cancer care.

Moreover,

James Mitchell, PAVmed’s VP of Digital Health and Veris’ Chief Medical Officer commented that patients are left unsupervised while at danger of serious problems as a result of intensive outpatient cancer therapies, resulting in high rates of hospitalisation, lower patient quality of life, and rising health-care expenses. This system is intended to help oncologists detect early indicators of common cancer-related problems and to track physiologic and clinical data throughout time. In addition to providing data-driven risk management techniques for precision oncology, the company will also include additional opportunities for significant value creation through data monetization and biotherapeutic clinical study support.

Matinas BioPharma Inc. (NASDAQ: (MTNB) stock gained by 6.36% at the last close while the MTNB stock price surges by 2.56% in the pre-market trading session. Matinas BioPharma is a pharmaceutical business that uses its paradigm-shifting lipid nanocrystal (LNC) delivery platform to improve the intracellular delivery of important medications.

MTNB stock’ Update

Kathryn Penkus Corzo has been nominated by Matinas BioPharma to run for election to the Company’s Board of Directors at its 2021 Annual Meeting of Stockholders, which will take place on November 1, 2021. Ms. Corzo is a partner at Takeda Ventures, Inc., and was previously the Head of Oncology Cell Therapy Development at Takeda Pharmaceuticals, a worldwide, values-based, R&D-driven biopharmaceutical company based in Japan. Ms. Corzo works at Takeda’s research and development centre in Cambridge, Massachusetts.

About this, Herbert Conrad, Chairman of the Matinas BioPharma Board of Directors, and Chair of the Nominating and Governance Committee said that, they are thrilled to announce Kathryn’s appointment to their Board of Directors. Kathryn is a well-known biotechnology executive with a long track record of success in medication development. As they broaden the use of their LNC platform delivery technology, her leadership roles and development accomplishments with big pharmaceutical firms will be tremendously useful to the Company.

Furthermore,

Patrick LePore will not seek re-election to the Board of Directors at the Company’s Annual Meeting of Stockholders on November 1, 2021, according to the company.

Jerome D. Jabbour, Chief Executive Officer of Matinas acknowledged Pat LePore for his dedication to the Company on behalf of the Board of Directors and Matinas. His leadership, experience, and vision have been important in the company’s efforts over the last three years to work for the best interests of all Matinas stakeholders. Also, he wished him great success for the future.

Patrick LePore commented that,

He is thankful to Jerry and Herb, as well as the whole Board of Directors, for allowing me to participate as Vice Chairman of the Company. Matinas is incredibly well-positioned for the future, with good EnACT data just announced and several additional major clinical and strategic objectives coming up in the next quarters.

NantHealth Inc. (NASDAQ: (NH) stock gained by 1.16% at the last close whereas the NH stock price declines by 5.71% in the pre-market trading session. NantHealth is a company in the NantWorks ecosystem that offers enterprise solutions that help companies turn complicated data into meaningful insights.

NH stock’ Recent Past Development

NantHealth and Intraprise Health, a provider of HIPAA One Security and Privacy Compliance software, have established a partnership. The Security Risk Assessment software from HIPAA One will now be accessible to the increasing network of healthcare provider offices who use NantHealth’s NaviNet service, providing a full solution for managing HIPAA compliance obligations.

With over 64,000 providers in over 7,000 locations use Intraprise Health’s HIPAA One solution. Compliance gap evaluations, remediation plans, continuing tracking, and final reporting are all part of its automated tools and procedures. Using the HIPAA One Security Risk Assessment programme, providers may guarantee they’re up to date on government rules and HIPAA audit methods. NaviNet, one of the nation’s premier payer-provider interaction platforms, enabling providers to share important administrative, financial, and clinical data in real time. NaviNet will train its network of providers on the application, educating them on how to meet statutory HIPAA compliance obligations and preserve sensitive data, in collaboration with HIPAA One.

Official Statements

Sean Friel, CEO of Intraprise Health stated,

Intraprise Health is pleased to partner with NantHealth, to assist their provider network in achieving HIPAA compliance. They’re convinced that NantHealth’s providers will find HIPAA compliance not only achievable but easy to achieve with their automated application since they deliver next-generation data security software.

Ron Louks, Chief Operating Officer, NH stock commented,

Healthcare providers need to make sure that their practices are compliant and that their patients’ personal information is kept safe. Maintaining compliance with the most recent, obligatory HIPAA requirements and standards, regardless of the size of the practice, is a difficult endeavor. They’re delighted to partner with Intraprise Health’s HIPAA One team to train their provider network on how to use industry-leading risk analysis methods to assure compliance.

Hancock Jaffe Laboratories Inc. (NASDAQ: (HJLI) stock rose by 6.79% at the last close whereas the HJLI stock price declines by 6.25% in the pre-market trading session. Hancock Jaffe Laboratories is a medical device firm specializing in the development of new bio-prosthetic (tissue-based) technologies to enhance venous disease therapy.

HJLI stock’ Significant Development

Hancock Jaffe Laboratories released a business update that includes a proposed corporate re-branding and a strategic prioritization of the Company’s research pipeline. The company will be called enVVeno Medical Corporation on October 1, 2021. The NASDAQ market will continue to trade the Company’s common stock and warrants under the new ticker symbols “NVNO” and “NVNOW,” respectively. The name change will not affect the existing Hancock Jaffe shareholders who hold their shares in electronic form. Hancock Jaffe stock certificate holders should approach the Company’s transfer agent for replacement certificates.

The VenoValve, a potential therapy for deep venous Chronic Venous Insufficiency, is about to enter its pivotal study in the United States (CVI). CVI occurs when the valves inside the leg veins fail, leading in a lack of blood flow back to the heart.

Because of VenoValve’s initial clinical efficacy and the potential magnitude of the venous disease market, the firm has initiated the development of enVVe, a second device for the cure of venous illness. enVVe is expected to debut in mid-2022, according to the company. Hancock Jaffe has decided not to pursue further development of the CoreoGraft device as a therapy for patients having cardiac bypass surgery at this time since it is not in line with the company’s new strategic emphasis.

Moreover,

CVI affects about 2.4 million people in the United States and happens when valves within the leg’s veins fail, leading blood to flow in the wrong direction (reflux) and higher pressure inside the veins (venous hypertension). CVI is a severe disorder that makes simple actions like washing, sleeping, and walking difficult for individuals. Deep venous CVI has no viable treatment at the moment.

Bio-Key Inc. (NASDAQ: (BKYI) stock gained by 16.83% at last close whereas the BKYI stock-price plunge by 3.11% in the after-hours trading session. BIO-key has over two decades of experience offering authentication technology to thousands of businesses and millions of customers, and its biometric-centric, multi-factor identity and access management (IAM) solutions are reinventing authentication.

BKYI stock’ Significant Development

BIO-key has announced a new collaboration with Intelisys Communications, a ScanSource firm that specialises in technology services and solutions. They’re working together to launch a Master Agent Referral Partner Program. BIO-capabilities key’s will be enhanced as a result of this strategic relationship with Intelisys, which will enable the firm to deliver its most renowned cybersecurity solutions and Identity and Access Management (IAM) platform, BIO-key PortalGuard, to a wider market. It will also aid in the strengthening and expansion of BIO-Channel key’s Alliance Partner (CAP) programme, as well as the use of the Master Agent Referral Partner Program to capitalise on new and existing client prospects.

This will expand BIO-key’s range of identity services and exceptional user experience, as well as provide more alternatives and support for businesses looking for security solutions. IAM, worker and customer multifactor authentication (MFA), exclusive Identity-Bound Biometric solutions, Single Sign-on (SSO), and Self-Service Password Reset are all areas of focus for BIO-key.

Furthermore,

The current relationship also aligns with BIO-growth key’s strategy, which focuses on expanding distribution of an already broad product line while ensuring BIO-key solutions are compatible with the most cutting-edge security capabilities. BIO-key has been providing some of the most powerful cybersecurity and authentication solutions on the market for over 25 years. Its innovative software and hardware solutions combine industry-leading biometrics with unique features for IAM.

BIO-key Chief Revenue Officer Fred Corsentino stated,

This is a significant achievement for BIO-key as they strive to expand their channel programme and assure regional presence in the most important regions. As they move to a better future, they look forward to collaborating with Intelisys to assist solve enterprise security and identity and access management concerns.

Senmiao Technology Inc. (NASDAQ: (AIHS) stock gained by 3.93% at last close while the AIHS stock price rises by 6.69% in the after-hours trading session. Senmiao offers a variety of automobile transaction and support services, such as sales, facilitation, and services for automobile purchase and financing, management, operating leasing, guarantee, and other automotive transaction services. It runs its own ride-hailing platform, which is focused primarily on developing online ride-hailing business in Senmiao’s Chinese markets.

AIHS stock’ Recent Development

For the month of August 2021, Senmiao Technology Limited released the operating stats for its unique online ride-hailing platform. Senmiao’s platform announced 530,000 finished orders in August 2021, compared to almost 1.7 million in July 2021. According to a news statement issued on September 14, 2021, the decrease was due to a new contract signed by the Company and Shanghai Lutuan Technology, an affiliate of Meituan (HK: 3690), China’s top e-commerce platform for services. Online ride-hailing requests and orders will be executed on Meituan’s platform using Senmiao’s network of cars and drivers for a predetermined monthly price, according to the new partnership agreement.

Under the new cooperation model, Senmiao leased cars and offered related services to around 1,200 Chengdu drivers who conducted their online ride-hailing businesses through the major platform in August 2021. Senmiao also launched its services in Guangzhou with Gaode Maps, with over 55,000 orders completed and approximately 48,000 new drivers registered in the city for the month.

Moreover,

Senmiao’s online ride-hailing platform has accomplished roughly 12.7 million rides since its inception in Chengdu (October 2020), Changsha (December 2020), Neijiang (January 2021), Guangzhou (March 2021), and Nanchong and Panzhihua (June 2021). The number of completed orders is no longer the most meaningful statistic of the Company’s commercial performance, thanks to the Company’s collaboration agreement with Meituan. Senmiao will provide monthly reports on the amount of new drivers registered, in addition to already provided information, to provide additional insight into the company’s success.

NanoViricides Inc. (NASDAQ: NNVC) stock surged by 63.32% at last close while the NNVC stock price soars by 3.71% in the after-hours trading session yet the company has not provided any update on this.  NanoViricides is a firm in the early stages of development that develops antiviral nanoparticles. The Company’s innovative nanoviricide medication candidates are designed to specifically attack and deconstruct encapsulated virus particles.

NNVC stock’ Recent Development

NanoViricides recently stated that it has finished the stage of licencing the human Coronavirus field from TheraCour Pharma for medication research and commercialization. Recently, on September 8, 2021, the Company signed a licensing deal with TheraCour Pharma, Inc. for the field of antiviral medicines for coronavirus-derived human illnesses.

Antiviral medications to cure SARS-CoV-2 and its variants, which inflict the COVID-19 disease and have resulted in a global pandemic that continues to rampage around the world, wave after wave, as new variants emerge and take root. The licence did not need any upfront cash payment, as well as the remuneration terms, were usually identical with previous agreements. However, NanoViricides is actively focusing on human clinical trials for its two COVID-19 main therapeutic candidates, NV-CoV-2- and NV-CoV-2-R. The Company thinks that the necessary preclinical work for putting these medications into human trials is nearly complete.

Furthermore,

The company considers that these broad-spectrum anti-coronavirus medications will be able to remain viable even as the virus begins to mutate and evolve into a variety of dangerous versions. As additional SRAS-CoV-2 variants have appeared, antibody protection provided by vaccines and the efficacy of antibody medicines has continued to deteriorate. The company also thinks that their patent-pending anti-viral nanomachine technology will solve these problems. However, they believe that they are in a good position to deliver a COVID-19 infection treatment as an outpatient oral drug. In animal trials, NNVC discovered that its anti-COVID-19 medicines had substantial antiviral activity when given orally.

Exela Technologies Inc. (NASDAQ: XELA) stock gained by 3.21% at last close while the XELA stock price rises by 9.84% in the after-hours trading session. Exela Technologies is a leading name in business process automation (BPA), with unique technology and a global network to deliver digital transformation solutions that improve quality, productivity, and end-user experience.

XELA quickly delivers integrated technology and services as an end-to-end digital journey partner with cloud-enabled solutions built on a configurable stack of automation modules and over 18,000 workers operating in 23 countries.

XELA stock Recent Past Development

Exela Technologies has established a partnership with one of the country’s leading insurance companies. This growth demonstrates XELA’s capacity to quickly deploy PCH Global for claims made by providers, in this case serving members from low-income and disadvantaged neighbourhoods across the United States. PCH Global’s capabilities are being expanded by Exela in order to give a cloud-hosted solution with one of the greatest edit resolutions for healthcare cases. This expansion of the PCH Global platform’s value proposition to digitally link customers, providers, and insurance companies for clean claims, payment transparency, and digital appeals marks yet another breakthrough in the platform’s value proposition. This extension also adds to a $180 million Total Contract Value relationship that already exists.

The cloud network from PCH Global provides enhanced scalability, the finest durability, and the strongest business continuity measures. PCH Global also comes with improved data analytics and may be accessed using a self-service model.

Exela President Suresh Yannamani stated,

This growth exemplifies XELA’s potential to obtain market share while providing their customers with flexible and quickly deployable solutions. They are honoured to be able to expand their long-standing collaboration to help their customer’s expanding business unit. Similarly, they are grateful to be a part of a healthcare system that helps those who are most in need and most vulnerable.