STOCKS TELEGRAPH

Author: Mahnoor Shah

  • NuZee Inc. (NUZE) stock plunged during after-hours, here’s what’s happening?

    NuZee Inc. (NUZE) stock plunged during after-hours, here’s what’s happening?

    NuZee Inc. (NASDAQ: (NUZE) stock surged high at last close by 163.18% whereas the NUZE stock price declines by 5.86% in the after-hours trading session. NuZee is a prominent single-serve coffee co-packing organization that operates with businesses of all kinds to help them grow in the single-serve and private label coffee categories.

    NUZE stock’ Current Update

    Cuvee Coffee announced that customers will be able to purchase their single-serve filter bags created by its partner manufacturer, NuZe, started from November 8th. Cuvée Coffee, a nationally acclaimed specialty coffee roaster is excited that it will now be available in over 3,000 Walmart stores across the country.

    Travis Gorney, Chief Innovation Officer at NuZee commented,

    Cuvée Coffee, one of NuZee’s partner roasters, is expanding its consumer base with single-serve filter bags available at select Walmart locations nationwide. This collaboration provides a new option for coffee lovers to get their hands on this high-quality, convenient format, which is great for individuals on the road who want to experience adventures of life.

    Cuvée, a coffee company known for its innovation and foresight, has created these compact and enhanced filter bags that can be used on the move without the need for brewing equipment. Each single serving filter bag contains 14.2 grams of Cuvée’s Solo medium roast house mix, which is freshly ground. The coffee can be prepared with hot water for 4-6 minutes or cold water for 12-24 hours, similar to a teabag. To keep the filter bag fresh, it is nitro-sealed.

    Further, he added,

    Cuvée values ease and quality and the filter bags are proof of that. He loves how simple it is to have a good cup of coffee while on the go without the need for any additional brewing or grinding equipment. They’re constantly in my bag when he goes camping, hiking, or traveling because they’re light and don’t take up much space. All you need is a cup of hot or cold water, and you’ve got yourself a fantastic cup of coffee. He is ecstatic about their relationship with NuZee and the chance to have their filter bags in Walmart stores across the country so that more people may benefit from their convenience.

  • Following positive financial earnings, Phunware Inc. (PHUN) stock rose during after-hours.

    Following positive financial earnings, Phunware Inc. (PHUN) stock rose during after-hours.

    Phunware Inc. (NASDAQ: PHUN) stock surged by 0.26% at last close while the PHUN stock price gained by 5.37% in the after-hours trading session. Multiscreen-as-a-Service (MaaS), an award-winning, completely integrated enterprise cloud platform for mobile, was invented by Phunware. It gives businesses the tools, data, and services they need to connect, control, and market their mobile app portfolios and audiences on a worldwide scale.

    PHUN stock’ Financial Highlights

    Phunware reported its financial results for the third quarter of 2021. Given below are the highlights:

    • The net revenue generated for the third quarter of 2021 was $2.2 million.
    • For the third quarter of 2021, the net income was $0.4 million.
    • The net income per share for the third quarter of 2021 was $0.01.
    • The Non-GAAP Adjusted EBTIDA Loss for the third quarter of 2021 was $2.5 million.
    • For the third quarter of 2021, the company generated $1.8 million as Multiscreen-as-a-Service (MaaS) Platform Subscriptions and Services Revenues.

    Alan S. Knitowski, President, CEO, and Co-Founder of Phunware commented,

    They’re ecstatic to report a 50 percent increase in organic net sales from quarter to quarter. It illustrates that their MaaS enterprise cloud platform for mobile is now getting the benefit of their direct and indirect go-to-market methods. On a number of fronts, their staff performed admirably in the previous quarter. They’re closing partnerships with a number of notable new clients and partners across several industries, including scaling their dual token economy while following their inorganic growth plan and completing the purchase of Lyte Technology.

    In addition to the stated organic growth, the closure of Lyte brings immediate profitability, backlog, and development. This will enable them to scale and expedite their blockchain projects by leveraging a new, strategic distribution system to customers. Phunware has had a significant and promising year, and he is optimistic that as they enter 2022, they will be blazing on all cylinders with a dynamic organic and inorganic development strategy that will position them for massive growth.

  • Here’s to why BigCommerce Holdings Inc. (BIGC) stock plunged during after-hours?

    BigCommerce Holdings Inc. (NASDAQ: (BIGC) stock gained by 28.27% at last close whereas the BIGC stock price declined by 0.94% in the after-hours trading session. BigCommerce is a prominent software-as-a-service (SaaS) eCommerce platform that enables merchants of all sizes to start, develop, and innovate their companies online.

    BIGC stock’ Financial Highlights

    BigCommerce announced its financial results for the third quarter of 2021. Here’s are the highlights:

    • In the third quarter of 2021, total sales were $59.3 million, up 49% from the previous year’s same quarter.
    • As of September 30, 2021, the total annual revenue run rate (ARR) was $253.5 million, up 52 percent from September 30, 2020.
    • Subscription revenue increased by 59 percent from the third quarter of 2020 to $42.1 million.
    • The GAAP gross margin was 79 percent in the third quarter of 2021, compared to 78 percent the previous year.
    • For the third quarter of 2021, the non-GAAP gross margin was 80%, up from 79 percent in the third quarter of 2020.

    Brent Bellm, CEO at BigCommerce stated,

    BigCommerce had a record-breaking third quarter in many ways, including their highest-ever year-over-year sales growth rate as a public company of 49 percent. The performance of their Open SaaS platform in providing services to the ever-larger business customers, B2B, and headless use cases, and new European markets is reflected in this tremendous growth. The purchase of Feedonomics, which offers BigCommerce merchants with effective business capabilities in omnichannel marketing and promoting across 100+ global marketplaces, search engines, social networks, and ad platforms, is also included in their financial results.

    Future Outlook

    • For the fourth quarter of 2021, the revenue is expected to be between $61.3 million and $61.7 million, this is a y-o-y increase of 42% and 43%.
    • For the full year 2021, the revenue is estimated at around $216.2 million and $216.6 million, an increase of 42% in y-o-y growth.
    • The Non-GAAP operating loss for the fourth quarter of 2021 is anticipated to be between $8.0 million and $9.2 million.
    • The Non-GAAP operating loss for the full year 2021 is expected to be around $19.2 million and $20.4 million.
  • Chinook Therapeutics Inc. (KDNY) stock hikes during after-hours. Here’s what’s happening?

    Chinook Therapeutics Inc. (KDNY) stock hikes during after-hours. Here’s what’s happening?

    Chinook Therapeutics Inc. (NASDAQ: (KDNY) stock surged by 30.39% at last close while the KDNY stock price gains by 2.26% in the after-hours trading session. The company has recently participated in ASN Kidney Week 2021. Chinook Therapeutics, Inc. is a clinical-stage pharmaceutical firm focused on creating kidney disease precision treatments. Chinook’s product candidates are being studied in the treatment of rare, severe chronic renal diseases with well-defined treatment plans.

    KDNY stock’ Current Update

    Chinook Therapeutics has presented six ePoster presentations at ASN Kidney Week 2021 on the BION-1301 and atrasentan clinical studies. BION-1301 is an anti-APRIL monoclonal antibody that is now in phase 1/2 clinical trials for IgAN patients. Following are the highlights:

    • In individuals with IgAN, BION-1301 was well tolerated and showed immediate and sustained decreases in mechanistic indicators such as free APRIL, IgA, and Gd-IgA1 levels.
    • After three to six months of treatment, BION-1301 reduced proteinuria by more than half in patients with IgAN, with further reductions in two individuals after a year of treatment.
    • Cohort 2 data will be implemented to help determine the subcutaneous dose and schedule that will be employed in later-stage BION-1301 studies.

    Alan Glicklich, chief medical officer of Chinook Therapeutics commented,

    Their presentations at this year’s ASN Kidney Week on BION-1301 and atrasentan demonstrate their dedication to researching medicines for rare, serious chronic kidney illnesses including IgA nephropathy, a devastating progressing condition for which no approved medications exist. The data they provided on BION-1301 adds to the growing body of evidence that this possibly disease-modifying therapy for patients with IgA nephropathy can produce consistent mechanistic biomarker responses as well as clinically important proteinuria reductions within three months of treatment initiation. They are looking forward to expanding on this intriguing data in the ongoing phase 1/2 study to find the correct subcutaneous dose of BION-1301 to move on into later-stage trials.

  • Pieris Pharmaceuticals Inc. (PIRS) stock fell during after-hours. Here’s to know why

    Pieris Pharmaceuticals Inc. (PIRS) stock fell during after-hours. Here’s to know why

    Pieris Pharmaceuticals Inc. (NASDAQ: PIRS) stock plunged by 5.75% at last close while the PIRS stock price declines by 1.17% in the after-hours trading session. Pieris is a clinical-stage biotechnology firm that develops medications that influence local biology to improve clinical treatment outcomes by combining top protein engineering skills with a thorough understanding of the molecular causes of disease.

    PIRS stock’ Financial Highlights

    Pieris Pharmaceuticals announced its financial results for the third quarter of 2021. Given below is the summary:

    • For the third quarter of 2021, R&D expenses were $18.9 million, relative to $11.8 million for the third quarter of 2020.
    • For the third quarter of 2021, G&A expenses were $4.1 million, compared to $4.1 million for the same period in 2020. G&A departments continue to strategically leverage spending to serve the Company’s overall requirements, therefore there were no noteworthy changes in spending categories.
    • PRS-220 program costs that qualified for reimbursement under the Bavarian grant announced in June 2021 resulted in $1.8 million in other income for the third quarter of 2021.
    • The net loss for the third quarter of 2021 was $16.5 million, or $(0.24) per share, relative to a net loss of $14.3 million, or $(0.26) per share, for the quarter ended September 30, 2020.
    • The company’s cash and cash equivalents for the third quarter of 2021 were $125.1 million, compared to a cash and cash equivalents balance of $70.4 million for the year ended December 31, 2020.

    Business Outlook

    The company has provided the following updates:

    • Part 1a of the PRS-060/AZD1402 phase 2a research was completed with dosing.
    • In the phase 2 investigation of cinrebafusp alfa, dosing will commence this quarter.
    • PRS-344/ S095012 received regulatory permission in many countries for a phase 1/2 trial.
    • PRS-220 preclinical data was presented at ERS; clinical trials are expected to begin in 2022.
    • Initiated the Seagen collaboration’s second costim bispecific initiative.
    • With Genentech, I started respiratory and ophthalmology programs.
    • Thomas Bures has been promoted to CFO, and Ahmed Mousa has been promoted to CBO.
  • Pfizer Inc. (PFE) stock surged during current market. Let’s find out why?

    Pfizer Inc. (PFE) stock surged during current market. Let’s find out why?

    Pfizer Inc. (NASDAQ: PFE) stock gained by 9.69% in the current market trading session. At Pfizer, they use research and worldwide resources to develop medications that help people live longer and better lives.

    PFE stock’ Update

    PAXLOVID, Pfizer’s investigational innovative COVID-19 oral antiviral candidate has substantially decreased hospitalization and mortality rate, according to the company. The non-hospitalized adult patients with COVID-19 who are at significant risk of advancing to severe illness were included in the interim analysis of the Phase 2/3 EPIC-HR randomized, double-blind investigation.

    Pfizer will stop enrolling people in the research based on the advice of an independent Data Monitoring Committee and in coordination with the FDA. It’s because of the tremendous efficacy revealed in these results, and the company wants to submit the data as soon as possible as part of its continuous rolling submission to the US FDA for Emergency Use Authorization (EUA).

    PAXLOVID will be the first oral antiviral of its sort, a particularly developed SARS-CoV-2-3CL protease inhibitor if licensed or registered. It could be prescribed more widely as an at-home therapy for people after completing the rest of the EPIC clinical development program and receiving permission or authorization. It has shown substantial antiviral action in vitro against circulating versions of concern, as well as other known coronaviruses, implying that it could be used to treat a variety of coronavirus infections.

    Albert Bourla, Chairman and CEO, Pfizer stated,

    This finding will play a key role in the global fight to stop the damage caused by the Covid-19 pandemic. These findings show that, if authorized or allowed by regulatory authorities, their oral antiviral candidate has the ability to save patients’ lives, decreasing the risk of COVID-19 infections, and avert up to nine out of ten hospitalizations. They have stayed laser-focused on the science and fulfilled their obligation to support healthcare systems and institutions across the globe while guaranteeing equitable and wide access to people everywhere, considering COVID-19’s sustained global impact.

  • Here’s to why Borr Drilling Inc. (BORR) stock soars during pre-market?

    Borr Drilling Inc. (NASDAQ: BORR) stock gained by 0.96% at last close while the BORR stock price surged by 28.57% in the pre-market trading session. Borr Drilling Limited is a drilling company that works all over the world. The company owns and operates contemporary, high-specification jack-up rigs that provide drilling services to the exploration and production and production companies around the world in water depths of up to 400 feet.

    BORR stock’ Financial Highlights

    Borr Drilling announced its financial outcomes for the third quarter of 2021. Given below is the summary:

    • Total operational sales for the third quarter of 2021 were $73.0 million, an increase of $18.2 million or 33 percent from the second quarter of 2021.
    • In the second quarter of 2021, the net loss was $32.6 million, down $27.3 million from the previous quarter.
    • Cash and cash equivalents totaled $68.9 million at the end of the third quarter of 2021, an increase of $36.5 million from the second quarter of 2021.
    • Adjusted EBITDA of $20.0 million, up from $16.3 million in the second quarter of 2021, a 441 percent gain.
    • Year to date, the company has been granted 32 new contracts, extensions, exercised options, and LOA/LOIs, totaling 7,929 days and $668 million in potential backlog, including contracts through its Drilling JVs and mobilization compensation.

    CEO, Patrick Schorn stated that,

    They are happy with their success in the third quarter of 2021, which represents a critical milestone in their global operational turnaround efforts. In the quarter, their 13 operating rigs generated strong EBITDA and positive cash flows. The selling of their integrated well services joint ventures and the downsizing of their Mexico operations have also helped to improve their cash situation.

    Management has maintained contact with several creditors in order to meet the debt maturities in 2023. They’re currently in early talks with one of the major creditors, and they’ve agreed on a structure that will allow them to prolong commitments well beyond 2023. This is contingent on a number of factors, including the consent of each company’s board of directors and the achievement of appropriate concessions from other creditor groupings.

    They are optimistic in their capacity to improve their financial performance significantly with further growth in the number of active rigs and an upward adjustment of the E&P capital budgets for 2022. This progress will also lay the groundwork for a solution for the 2023 maturities that will benefit all parties involved.

  • ReWalk Robotics Inc. (RWLK) stock surged during pre-market. Here’s what you should know.

    ReWalk Robotics Inc. (RWLK) stock surged during pre-market. Here’s what you should know.

    ReWalk Robotics Inc. (NASDAQ: RWLK) stock declined by 1.53% at the last close whereas the RWLK stock price gains by 63.57% in the pre-market trading session. ReWalk Robotics creates, manufactures, and sells wearable robotic exoskeletons for people who have lost their lower limbs due to a spinal cord injury or stroke. Through the design and growth of market-leading robotic technology, ReWalk’s objective is to profoundly enhance the quality of life for people with lower limb disabilities.

    RWLK stock’ Significant Development

    The Food and Drug Administration has designated ReWalk Robotics’ ReBoot technology as a Breakthrough Device, according to the company (FDA). The ReBoot is a battery-powered, lightweight exo-suit designed to aid ambulatory functions in those who have lost ankle function due to neurological impairments like stroke. The ReBoot is a personal device that can be customized for usage at home or in the community. It’s a sister product of the ReStore device, which was approved by the FDA for use in the rehabilitation environment in 2019.

    Larry Jasinski, CEO of ReWalk stated that,

    The FDA’s breakthrough device designation is a major accomplishment for ReBoot, as it opens the door to a more expedited review process, allowing the technology to reach the market sooner. The ReBoot will provide stroke survivors with a gadget that can be customized for each unique user, allowing them to receive frequent help at home and in the community.

    Furthermore,

    The ReBoot operates in conjunction with the muscles in the damaged leg to help people not only retain proper foot posture but also push off the ground, potentially improving their gait. It could also:

    • Muscle re-education, particularly of plantar flexor function, should be made easier.
    • Disuse atrophy can be avoided or delayed.
    • Maintain or enhance the range of mobility in your joints.
    • Improve your walking speed and endurance without using a gadget.
    • Reduce the number of falls caused by inadequate foot placement as a result of foot drop.

    The Breakthrough Devices Program is a voluntary program that recognizes specific medical devices and device-led combination solutions that improve the cure or diagnosis of life-threatening or irreversibly debilitating diseases or conditions.

  • Following its financial earnings, Peloton Inc. (PTON) stock drop during pre-market.

    Peloton Inc. (NASDAQ: PTON) stock fell by 4.25% at last close while the PTON stock price plunged by 32.71% in the pre-market trading session after the company has announced its financial outcomes for the first quarter of the fiscal year 2022. Peloton is the biggest and most popular interactive fitness service, with more than 6.2 million active users. The company was the first to provide linked, technology-enabled exercise to the masses, as well as the live streaming of immersive, instructor-led boutique classes to its customers at any time.

    PTON stock’ Financial Highlights

    Peloton announced its financial outcomes for the first quarter of the fiscal year 2022. Given below is the summary:

    • The net revenue for the first quarter of fiscal 2022 was $805.2 million which is an increase of 6%.
    • The gross margin for the first quarter of fiscal 2022 was 32.6%.
    • For the first quarter of fiscal 2022, the net loss was $376.0 million.
    • For the first quarter of 2022, the ending connected fitness subscriptions surged by 875 to 2.49 million whereas the paid digital subscriptions rose to 887 thousand by 74%.

    Future Guidance

    It’s quite difficult to predict the expected outcomes in light of the Covid-19 pandemic’s unusual circumstances. As a result, they’re going back to offering guidance ranges.

    • The ending connected fitness subscriptions are expected to be between 2.8 million to 2.85 million for the second quarter of fiscal 2022 while for the full-year fiscal 2022 it could be around 3.35 million to 3.45 million.
    • The anticipated total revenue for the second quarter fiscal 2022 is $1.1 billion to $1.2 billion and $4.4 billion to $4.8 billion for the full-year fiscal 2022.
    • For the second quarter fiscal 2022 and full-year fiscal 2022 the gross profit is expected to be 24% and 32% respectively.
    • The Adjusted EBTIDA for the second quarter of fiscal 2022 and full-year fiscal 2022 will be around $325 million to $350 million and $425 million to $475 million, respectively.

  • Aditxt Inc. (ADTX) stock declined during after-hours. Here’s what’s happening?

    Aditxt Inc. (NASDAQ: ADTX) stock gained by at last close whereas the ADTX stock price plunged by in the after-hours trading session. Aditxt is working on technologies aimed at boosting the immune system’s health through immunological surveillance and reprogramming.

    ADTX stock’ Update

    CLX Health, a producer of cloud-based solutions, and Aditxt have formed a partnership.  The purpose of this collaboration is to make AditxtScore for COVID-19 more widely available through CLX Health’s TrustAssure Solution Suite. Consumers, laboratories, healthcare providers, and public health agencies can all use the TrustAssure Solution Suite, which is a multi-stakeholder interaction platform. They use it to send essential health information to control the COVID-19 epidemic and other public health issues in real-time.

    Through the TrustAssure global network of COVID-19 testing partners, Aditxt and CLX Health will extend sample collection locations for AditxtScore for COVID-19. Through CLX Health’s HIPAA-compliant platform, the smooth partnership will provide additional scheduling, testing, and reporting options. Travelers can use TrustAssure to get information on the risk of traveling where they’ve been or where they’re going. AditxtScore is useful for travelers who want to better recognize and analyze their immunological condition before traveling, giving them more control over their own health risks.

    Amro Albanna, Co-founder and CEO of Aditxt commented,

    CLX Health’s relationship with AditxtScore is a significant step in the global deployment of AditxtScore and will help to establish AditxtScore as a top immune monitoring solution. For professional, entertainment, and travel-related events, TrustAssure is a leader in COVID-19 testing. They’re excited to collaborate with CLX Health’s team in forming alliances using their industry-leading technology.

    CLX Health’s Global Lab Director Bob Fleury stated that,

    They’re excited to work with Aditxt to introduce AditxtScore for COVID-19 to their TrustAssure platform because it’s a distinctive, precise, and thorough COVID-19 test that provides a lot more than a negative or positive result. This type of immunological surveillance device is critical for combating the COVID-19 pandemic.