STOCKS TELEGRAPH

Author: Mahnoor Shah

  • Troika Media Group Inc. (TRKA) stock hiked during after-hours, despite no current news.

    Troika Media Group Inc. (NASDAQ: TRKA) stock surged by 5.37% at last close while the TRKA stock price gained by 7.64% in the after-hours trading session. Troika Media Group is a full-service brand solutions provider that adds value to global companies in entertainment, sports, and consumer goods in the short and long term.

    TRKA stock’ Financial Highlights

    Troika Media Group recently announced its financial results for the Q1 fiscal year 2022. Given below is the summary:

    • In Q1 2022, revenue climbed by 102 percent to $8.3 million, compared to the same quarter the previous year.
    • In comparison to the first quarter of fiscal 2021, adjusted EBITDA increased by 78 percent to $(0.6) million in Q1 2022.
    • When compared to the first quarter of the fiscal year 2021, net loss improved 45 percent to $(2.1) million in Q1 2022.

    Business Updates

    • Following COVID, the company will continue to focus on a strong growth strategy.
    • Expansion of the fast-growing gaming and Esports market.
    • Client spending and business mix are changing to areas with stronger growth potential: experience, consumer, and technology.
    • The number of new clients is returning to pre-pandemic levels.
    • In Q2 2022, the need for client services across brands remains strong, with an increasing pipeline.
    • Estimated top-line growth is well-positioned to be leveraged.
    • In fiscal 2022, strong net sales growth is likely to continue.

    Robert Machinist, Troika’s Chairman, and CEO stated that,

    They feel that their good performance goes well beyond a post-COVID rebound, as it was supported by wide-ranging contributions from all of the client industries. Clients are spending a lot of money on marketing, especially on digital and experiential efforts. TMG has established itself as a high-value partner, combining the creative spirit with the advantages of data and technology to build integrated solutions for clients across a variety of industries. The workers, who have managed to exhibit a high degree of dedication and support, to their clients and to one another are responsible for these remarkable outcomes.

    They’re continuing to think about how they can enhance the growth strategy with a targeted and scalable M&A strategy that builds on current skills in growth areas like experience, commerce, and technology. Clients are searching for innovative and sustainable solutions that use new technology to build their businesses, thus they believe TMG has huge new growth potential.

  • AVROBIO Inc. (AVRO) stock soars during after-hours. Here’s to know why?

    AVROBIO Inc. (NASDAQ: (AVRO) stock gained by at last close while the AVRO stock price surged by in the after-hours trading session. The mission is to make individualized gene therapy a reality for everyone on the planet. With a standard dose of gene therapy engineered to stimulate permanent expression of therapeutic protein even in tough tissues and organs like the brain, muscle, and bone, they hope to prevent, stop, or cure disease throughout the body.

    AVRO stock’ Update

    At the 14th International Congress of Inborn Errors of Metabolism (ICIEM), which happened on Nov. 21-23, 2021, in Sydney, Australia, AVROBIO organized a panel of experts managing the patient outcomes in Phase 2 FAB-GT clinical study of AVR-RD-01, innovative one-time gene therapy for Fabry disease. Revised study results from the first lentiviral gene therapy clinical studies for Fabry disease and Gaucher disease type 1, as well as 10- to 12-month safety data from gene therapy-treated animals with mucopolysaccharidosis type II (MPSII), or Hunter syndrome, were among the other topics discussed.

    The clinicians talked about the patient outcomes during apheresis (the procedure of collecting the participant’s stem cells), conditioning (the process of clearing space in the patient’s bone marrow to obtain their stem cells back following the introduction of the therapeutic transgene), infusion of the genetically modified stem cells, and after getting the gene therapy.

    Dr. Nicholls commented that,

    Being a member of this first-in-the-world medical trial to introduce this investigational gene therapy to the Fabry disease community in Australia has been thrilling and fulfilling. While the current therapy has made a significant impact in patients’ lives, there are restrictions to the influence of enzyme replacement therapy (ERT) on Fabry disease symptoms in the heart, kidneys, and central nervous system (CNS). They know, for example, that even with a combination of ERT and other renal preventive therapies, renal deterioration will occur. Of course, they hope this isn’t the case. For these individuals and their families, better therapeutic alternatives are required.

  • WISeKey Inc. (WKEY) stock popped in after-hours trading session. Here’s to know why?

    WISeKey Inc. (NASDAQ: WKEY) stock gained by 1.02% at last close while the WKEY stock price surged by 3.65% in the after-hours trading session. WISeKey is a prominent worldwide cybersecurity firm that is now developing large-scale digital identity ecosystems for people and objects leveraging Blockchain, AI, and IoT, with the human as the Internet’s fulcrum.

    WKEY stock’ Current Update

    WISeKey International Holding has formed a partnership with Luminaries21.com and the OISTE.ORG Foundation to build high-end nonfungible tokens (NFTs) tailored to global leaders, stars, and influencers with enormous ecosystems. The NFTs will be coupled with specific social causes in order to create and support concrete solutions aimed at achieving, among other things, the United Nations’ global sustainable goals.

    Luminaries 21 and NFT are working on a number of projects together, including various activities in collaboration with renowned humanitarian organizations.

    To support NFT humanitarian initiatives, Luminaries 21 will collaborate with WISekey and the OISTE.ORG charity. The OISTE Foundation, like Luminaries 21, sponsors several global organizations that focus on human rights and sustainable development projects.

    Alberto Diez, president and founder of Luminaries 21 commented that,

    NFTs are one of the 20 sources of additional revenue that they use to help their clients to enhance their profits. While WISeKey is a perfect partner, not only because of its cutting-edge technology but also because of the extra benefit that comes with being in the hands of world-class cybersecurity and artificial intelligence experts.

    Furthermore,

    WISeKey’s multiple security technologies protect the WISe.ART NFT marketplace platform, allowing for the secure end-to-end authentication of digital identity-based NFTs, physical items, and digital assets. The user has complete control over their WISeID NFT, and other NFTs must seek access to its identification information. WISeID NFTs users can choose how much information they want to disclose, allowing them to maintain complete control.

  • Engine Gaming and Media Inc. (GAME) stock rose during after-hours trading session. Here’s to why?

    Engine Gaming and Media Inc. (NASDAQ: GAME) stock gained by 1.92% at last close while the GAME stock price surged by 30.50% in the after-hours trading session. Engine Gaming and Media offers special social sports and esports gaming activities, as well as unrivaled data analytics, marketing, branding, and intellectual property to promote its owned and operated direct-to-consumer platforms, as well as customers and partners.

    GAME stock’ Financial Outcomes

    Engine Gaming and Media has released its fourth-quarter and fiscal-year 2021 financial results, which ended on August 31, 2021. Given below is the summary:

    • The total revenue generated for the fiscal year ended August 31, 2021, was $37.2 million, up from $10.5 million in FY 2020, a 253 percent increase year over year. However, for the fourth quarter of the fiscal year, 2021 total revenue was $11.8 million, up 67 percent year over year from $7.0 million in the fourth quarter of fiscal 2020.
    • The net loss for the full year of fiscal 2021 was $40.7 million, an increase of $8.4 million from the net loss of $32.3 million in FY 2020. The net loss for the fourth quarter of fiscal 2021 was $13.5 million, up $3.4 million from FY Q4’2020’s net loss of $10.1 million. Net loss comprised $18.5 million in non-cash expense (income) for the fiscal year ended August 31, 2021, and $8.1 million in FY Q4’2021.
    • As of August 31, 2021, the Company has $15.3 million in cash and $8.6 million in receivables. After deducting non-cash warrant liabilities and legal procedures provision, the Company had a working capital surplus of $10.4 million.

    Lou Schwartz, the CEO, commented,

    Engine has made significant success in creating a distinct firm at the intersection of gaming and media, allowing them to engage in a number of macro growth areas such as social gaming, social commerce, data analytics, and media monetization. When they use their assets to surface targeted groups that can be monetized through business to business or direct to consumer social interactions, they have a distinct competitive edge.

  • Despite any current update, Vallon Pharmaceuticals Inc. (VLON) stock fell during after-hours.

    Vallon Pharmaceuticals Inc. (NASDAQ: (VLON) stock gained by 81.59% at the last close whereas the VLON stock price plunged by 23.29% in the after-hours trading session. Vallon Pharmaceuticals, based in Philadelphia, PA, is a clinical-stage pharmaceutical business. The company is concentrating its efforts on the development of novel drugs to aid individuals suffering from CNS illnesses.

    VLON stock’ Financial Highlights

    Vallon Pharmaceuticals has released its financial earnings for 2021.

    • For the third quarter of 2021, the net loss was $1.3 million.
    • For the third quarter of 2021 and 2020, research and development expenses were $0.2 million and $0.7 million, respectively.
    • General and administrative expenses were $1.0 million and $0.3 million for the third quarter of 2021 and 2020, respectively.
    • The Company had about $9.1 million in cash, cash equivalents, and marketable securities as of September 30, 2021, which it intends to fund its continued development and operational activities into the third quarter of 2022.

    Business Updates

    The company also offered an update on its ADAIR and ADMIR development programs, which use the company’s patented technology to prevent snorting manipulation and provide injectable barriers.

    • The ongoing pivotal intranasal abuse study of the lead program, ADAIR, is nearing patient enrollment and treatment completion in Q1 2022.
    • ADMIR, the second development program, is moving forward, with the final formulation selected and a prominent global development and manufacturing partner on board.

    David Baker, President & CEO of Vallon commented that,

    They are satisfied with the results achieved during the third quarter. They have gained critical scientific leadership and direction with the creation of their SAB, which they believe will be useful as they progress their pipeline of CNS-focused assets. They’ve also learned a lot about how prescription stimulants are misused and abused, which supports the necessity for abuse-deterrent formulations. They have laid a solid basis for the Company on which they can create momentum and increase shareholder value in the short and long term.

  • Windtree Therapeutics Inc. (WINT) stock rose during after-hours. Here’s to know why?

    Windtree Therapeutics Inc. (WINT) stock rose during after-hours. Here’s to know why?

    Windtree Therapeutics Inc. (NASDAQ: WINT) stock declined by 3.21% at last close whereas the WINT stock price gained by 7.95% in the after-hours trading session. Windtree Therapeutics, Inc. is developing a number of late-stage therapies to treat patients with acute cardiovascular and pulmonary diseases.

    WINT stock’ Current Development

    The findings of a study of hospital inpatient mortality and length of time spent for cardiogenic shock patients in the United States were released by Windtree Therapeutics. Cardiogenic shock happens when the heart is unable to pump sufficient blood and oxygen to the brain, kidneys, and other important organs. Cardiogenic shock is a medical issue that requires rapid attention.

    According to hospital claims statistics from the United States, inpatient death for cardiogenic shock cases was 30% in 2020.   The fatality rate for acute myocardial infarction in the United States was 5% in 2020, which helps to explain the relative severity of cardiogenic shock. 3 The findings, combined with previously published primary market research conducted with 100 U.S. cardiologists who noted a greater need for potential treatments and a high likelihood of using an agent with istaroxime’s clinical profile, highlight the need for enhanced pharmacologic innovation for cardiogenic shock patients.

    Additionally, U.S. hospital claims data were assessed to determine the length of stay in the hospital for cardiogenic shock patients. The average length of stay for patients with cardiogenic shock was 19.6 days with a median of 10 days in 2020.4 According to the Agency for Healthcare Research and Quality (AHRQ), the U.S. national average for a hospital stay of any disease was 4.6 days in 2020.

    Craig Fraser, CEO and President of Windtree Therapeutics stated that,

    They’re aiming to finish their early cardiogenic shock trial with istaroxime, with the overall goal of producing a medication that can be utilized earlier to restore blood pressure and cardiac activity without the negative consequences that many older drugs have. They should be able to assess the results of this preliminary early cardiogenic shock research in the coming months, and if they are positive, they will meet with regulatory agencies to analyze the development program and approval needs, as well as the possibility of applying for supportive pathways that could shorten development timeframes.

  • iSun Inc. (ISUN) stock fell during after-hours. Here’s what you should know.

    iSun Inc. (ISUN) stock fell during after-hours. Here’s what you should know.

    iSun Inc. (NASDAQ: ISUN) stock dropped by 4.01% at last close while the ISUN stock price plunged by 3.20% in the after-hours trading session. iSun has been speeding up the deployment of reliable, life-improving advances in electrification technology since 1972. For years, iSun has been a renowned electrical contractor to Fortune 500 corporations, installing cleanrooms, fibre optic cables, flight simulators, and solar systems totaling over 400 megawatts.

    iSun stock’ Current Update

    iSun has released its earnings forecast for FY2022. Given below are the highlights:

    • The implementation of iSun’s Strategic Plan is expected to create $165 million in revenue across the company’s four segments.
    • Residential Division is expected to generate $45 million in revenue, with gross margins ranging from 25% to 30%.
    • Commercial Division expects $15 million in revenue, with gross margins of 16 to 20%.
    • The Industrial Division expects $55 million in revenue, with gross margins ranging from 15% to 18%.
    • The Utility Division is expected to generate $50 million in revenue, with gross margins ranging from 15% to 18%.

    iSun Chief Executive Officer Jeffrey Peck stated that,

    They’ll start transitioning from platform development to platform deployment in 2022. For the very first time, they’ll provide instruction on each of these four different phases as they go. The theory is not new to them, but the practice is. They have a 50-year track record of completing complicated, technically sophisticated projects on time and on budget, earning them a reputation as a dependable, trustworthy partner. They’re happy to pass on their tradition of providing excellent service to their shareholders.

    He further added,

    In 2019, they went public to accomplish their objective of building a platform that could accelerate solar adoption throughout all target markets – residential, commercial, industrial, and utility. They’ve developed a platform that allows you to do just that. Furthermore, their platform will aid in the rapid adoption of electric vehicles. Not every EV owner will be able to install a charger at home or will have accessibility to chargers at their workplaces or places of business. iSun is working to make sure that members of all communities have access to EV adoption by expanding access to EV charging at scale in all segments.

  • Following its financial outcomes, Adamis Pharmaceuticals Inc. (ADMP) stock dropped during after-hours.

    Following its financial outcomes, Adamis Pharmaceuticals Inc. (ADMP) stock dropped during after-hours.

    Adamis Pharmaceuticals Inc. (NASDAQ: ADMP) stock plunged by 1.97% at last close while the ADMP stock price declines by 17.07% in the after-hours trading session. Adamis Pharmaceuticals Corporation is a specialized biopharmaceutical business dedicated to the development and commercialization of medications for a variety of therapeutic areas, including allergy, opioid overdose, respiratory, and inflammatory conditions.

    ADMP stock’ Financial Highlights

    Adamis Pharmaceuticals announced its financial results for the nine months ended September 30, 2021. Given below is the summary:

    • As of September 30, 2021, the business undertaken through our USC subsidiary is classified as a ceased operation. As a result, the important current assets, other assets, current liabilities, and noncurrent liabilities have been recorded as part of total assets and liabilities for this time, apart from the ongoing firm operations’ balances.
    • Revenues for the nine months ended September 30, 2021, and 2020 were approximately $3.4 million and $2.1 million, respectively, based on these discontinued operations accounting rules. The rise in income was mostly due to SYMJEPI marketing initiatives by US WorldMeds.
    • For the nine months ending September 30, 2021, and 2020, selling, general, and administrative expenses were about $13.2 million and $9.6 million, correspondingly. The majority of the rise was due to the surge in legal fees.
    • For the nine months ended September 30, 2021, and 2020, research and development expenses were approximately $9.1 million and $6.6 million, respectively. The rise was mostly due to ZIMHI and Tempol development.
    • Cash and equivalents totaled $28.7 million as of September 30, 2021.

    Dennis J. Carlo, President, and CEO of Adamis Pharmaceuticals commented that,

    Over the last year, Adamis has made remarkable progress. They resubmitted ZIMHI’s NDA to the Food and drug administration. A Phase 2/3 clinical study to examine the use of Tempol for the cure of COVID-19 was started and patients were enrolled. SYMJEPI has seen considerable sales increase with their new commercial partnership. Most importantly, they gained early clearance for ZIMHI for the treatment of opioid overdose in October, and commercial launch is planned for the first quarter of 2022.”

  • Happiness Development Group Ltd. (HAPP) stock fell during after-hours. Here’s what’s happening?

    Happiness Development Group Ltd. (HAPP) stock fell during after-hours. Here’s what’s happening?

    Happiness Development Group Ltd. (NASDAQ: (HAPP) stock gained by 7.44% at last close whereas the HAPP stock price plunged by 9.64% in the after-hours trading session. Happiness Development Group Limited, based in Nanping, China, now has three business paths: nutraceuticals and dietary supplements, e-commerce, and automotive sales. The study, development, production, and advertising of diverse items manufactured from Chinese herbal extracts and other substances is the emphasis of the nutrition and dietary supplement industry. They also have online stores that provide dietary supplements and other carefully selected goods acquired from Chinese small and medium-sized businesses.

    HAPP stock’ Current Update

    Happiness Development Group Limited today revealed that Taochejun, a subsidiary of Happiness Development Group Limited, has obtained a deal with Shanghai Automobile Trading Co., Ltd, a wholly-owned subsidiary of Shanghai Automobile Industry Corporation, to buy 1,300 vehicles from the SAIC MG brand at a reduced price.

    According to the deal, the subsidiary of Taochejun’, Happiness Automobile Services, will buy 1300 “MG HS” from Shanghai Automobile Trading for a total of RMB104 million (about $16.3 million). In comparison to the official guiding price, these automobiles will be sold at a 37 percent discount. SAIC Motor, the largest car manufacturer listed on China’s A-share market, is Shanghai Automobile Trading’s parent firm (Stock Code: 600104). Morris Garages (MG), Roewe, and Maxus are among SAIC Motor’s affiliated automotive companies, as are SAIC Volkswagen, SAIC-GM, and others.

    Xuezhu Wang, CEO of the Company, stated that,

    They are ecstatic to have reached an agreement with Shanghai Automobile Trading Co., Ltd. Taochejun has forged relationships with a number of vehicle trade companies in recent months, gaining vital experience. Their team’s distribution ability has been acknowledged by major vehicle manufacturers, as evidenced by their collaboration with SAIC Motor’s subsidiary. They will strive to work to grow their distribution network and establish additional partnerships with significant manufacturers and distributors in the future.

  • Provention Bio Inc. (PRVB) stock surged during current market. Here’s to know why?

    Provention Bio Inc. (PRVB) stock surged during current market. Here’s to know why?

    Provention Bio Inc. (NASDAQ: PRVB) stock gained by 15.06% in the current market trading session. Provention Bio, Inc. is a pharmaceutical firm dedicated to the advancement of investigational medicines which can be used to diagnose and reduce severe and life-threatening immune-mediated diseases.

    PRVB stock’ Significant Update

    Provention Bio gave an update on its continuing attempts to address FDA considerations cited in the Company’s Complete Response Letter (CRL) released on July 2, 2021, relating to comparability between the Company’s intended teplizumab commercial product and clinical drug product used in historical teplizumab tests.

    The Company conducted a Type A meeting with the FDA on November 18, 2021, to address the population pharmacokinetic (popPK) model that will be utilized for anticipated commercial and clinical medication product comparisons. The Food and drug administration approved the Company’s plan to populate the popPK model with data from patients undergoing therapeutic doses of teplizumab in a pharmacokinetic/pharmacodynamic substudy of the ongoing PROTECT Phase 3 trial in newly diagnosed type 1 diabetes (T1D) patients, according to preliminary meeting remarks.

    The following are the main results of the Company’s preliminary study using the popPK model:

    Geometric mean of the ratio of commercial to clinical drug product [90% Confidence Interval (CI)]

    • 2% AUC Infinity [CI: 76.9 – 89.9]
    • 3% AUC Day 13 [CI: 78.0 – 93.3]
    • 5% CMAX [CI: 83.9 – 89.3]

    Ashleigh Palmer, Co-Founder, and CEO of Provention Bio commented that,

    They are very delighted that they were able to obtain a deal with the FDA on moving forward with the popPK model, allowing them to produce the comparability results that you are seeing today. These first findings are encouraging, as they appear to be aligned with their understanding of teplizumab’s target-mediated clearance process. This might explain the discrepancies found in a single, fractional low dosage PK/PD investigation in healthy volunteers previously described. They intend to continue their conversations with the FDA as they examine the data and determine the next stages in the Company’s goal of eventually giving teplizumab to T1D patients who are at risk of developing final stage insulin-dependent disease.