STOCKS TELEGRAPH

Author: Mahnoor Shah

  • Acumen Pharmaceuticals Inc. (ABOS) stock fell during after-market, despite any current update

    Acumen Pharmaceuticals Inc. (ABOS) stock fell during after-market, despite any current update

    Acumen Pharmaceuticals Inc. (NASDAQ: (ABOS) stock plunged by 2.43% at last close while ABOS stock price declines by 5.34% in the pre-market trading session even though the company has not provided any news regarding this downfall. Acumen is a clinical-stage pharmaceutical business established in Charlottesville, Virginia, with clinical activities in Carmel, Indiana. It is developing a revolutionary disease-modifying method to cure Alzheimer’s disease.

    ABOS stock’ Recent Past Development

    The first patient in INTERCEPT-AD which is a Phase 1 placebo-controlled, single- and multiple-dose clinical study of ACU193, has been dosed. It is a monoclonal antibody that preferentially attacks toxic amyloid-beta oligomers (AOs) for the cure of early Alzheimer’s disease.

    ACU193 is a monoclonal antibody (mAb) that was identified and designed depending on its specificity of targeting AβOs. AβOs are powerful neurotoxins that attach to neurons, block synaptic function, and cause neurodegeneration. ACU193 intends to effectively address the major root cause of the neurodegenerative process in AD by selectively targeting toxic AβOs.

    Daniel O’Connell, President, and CEO of Acumen stated,

    They are ecstatic to announce that ACU193 has reached its first clinical development goal. The recent pace and the scope of scientific innovation being used in Alzheimer’s research give them hope. ACU193 has the potential to fulfill the significant unmet needs of those living with Alzheimer’s disease, according to them.

     Eric Siemers MD, Chief Medical Officer for Acumen commented,

    They’re all really excited to see how ACU193 performs in the INTERCEPT-AD experiment.  The purpose of this Phase 1 clinical study is to prove that ACU193 is safe and effective, as well as to assess pharmacokinetics and target engagement. They’ve also included usual clinical outcomes for Alzheimer’s disease, as well as exploratory tests. They believe ACU193 has the ability for increased efficacy and safety relative to other monoclonal antibodies in development because of its unique mode of action.

  • Here’s to why Jianpu Technology Inc. (JT) stock moves high during after-market

    Here’s to why Jianpu Technology Inc. (JT) stock moves high during after-market

    Jianpu Technology Inc. (NASDAQ: (JT) stock dwindle by 5% at last close whereas the JT stock price surged by 12.49% in the after-market trading session. Jianpu Technology Inc. is the world’s leading independent open platform for financial product research and recommendation in China.

    JT stock’ Significant Update

    Jianpu Technology has been awarded the renowned Top 10 Fintech Innovation Award for 2021. Jianpu’s competence in allowing financial institution digitalization was recognized by “The Chinese Banker” with the award.

    The Award (currently in its 14th edition) is regarded highly by the fintech industry, regulators, and financial firms as one of the most prominent recognitions within China’s financial industry. Jianpu’s achievements and efforts in financial industry innovation have been recognized by winning the Award with banks like WeBank, Pingan Bank, and China Everbright Bank.

    Jianpu has joined the insurance brokerage market as part of its diversification of financial products provided on its platform. The Firm has created a solution for independent brokers that provides intelligent deal management, insurance product matching, and faster transaction procedures, with the aim and goal of “Making Insurance More Accessible via Technology.”

    Moreover,

    By implementing and modifying its winning strategy and pioneering business methods, Jianpu has also expanded its reach throughout Southeast Asian markets. The Company has obtained various major permissions and registrations in the fintech sector, notably financial product aggregator, credit scoring, and transaction authentication, after earning the confidence and cooperation of local regulators and partners. Jianpu will try to strive for more accessible financial services to help more people throughout the world in the future.

    Mr. David Ye, Co-founder, Chairman, and CEO of Jianpu, said that,

    During the first decade of their existence, as a fintech pioneer, they placed a great value on technological innovation. They aim to assist financial institutions in speeding up their digitalization, improving accessibility and offerings, and so better serving the real economy. They have specifically assisted small and medium-sized businesses in surviving the pandemic by making banking services and products more approachable.

  • Clayxt Inc. (CLXT) stock take a boost during after-market trading. Here’s to why

    Clayxt Inc. (CLXT) stock take a boost during after-market trading. Here’s to why

    Clayxt Inc. (NASDAQ: CLXT) stock surged by 4.44% at last close while the CLXT stock price gains by 7.29% in the pre-market trading session. Calyxt is a synthetic biotechnology firm that is based on plants. To support its customers accomplish their sustainability objectives, the company uses its patented PlantSpring technology platform to design novel materials and solutions.

    CLXT stock’ Upcoming Financial Results

    On Thursday, November 4, 2021, Calyxt, Inc. will have a conference call to share its third-quarter results, which concluded on September 30, 2021. The conference call will be hosted by Chief Executive Officer Michael A. Carr and Chief Financial Officer Bill Koschak, with a question-and-answer session following.

    Recent Past Development

    Calyxt has confirmed the appointment of Seth Dobrin to the Scientific Advisory Board of the company (SAB). Dr. Dobrin is IBM’s Global Chief Artificial Intelligence (AI) Officer, and he has substantial leadership expertise as well as a past record of transforming businesses using data and AI.

    Michael A. Carr, President & CEO of Calyxt commented that,

    He’d like to extend a cordial greeting to Seth as a member of their Scientific Advisory Board. Seth is a leader with extensive expertise in bringing AI-based business solutions to huge multinational organizations. They also continue to improve and expand their PlantSpringTM platform and BioFactoryTM production system’s AI and machine learning (AIML) capabilities. Its goal is to develop plant-based synthetic biology technologies for key clients and end markets.

    He further added that Calyxt expects to be able to bring a customer’s molecule need through their design, manufacturing, verification, and pilot-level production cycle in 36 months, supported by machine learning and artificial intelligence, with commercial-scale production. Seth’s expertise will be invaluable as they develop and strengthen their approach for building the AIML data efforts, as well as upgrade their team’s skillsets and capabilities to increase the effectiveness and scalability of their offerings. Finally, they want to assist their clients in producing more sustainable products and meeting corporate sustainability goals.

  • Here’s to why Zhongchao Inc. (ZCMD) stock fell during pre-market trading.

    Here’s to why Zhongchao Inc. (ZCMD) stock fell during pre-market trading.

    Zhongchao Inc. (NASDAQ: (ZCMD) stock plunged by 3.54% in the pre-market trading session. Zhongchao Inc. is a platform-based internet technology business founded in 2012 with headquarters in Shanghai and Beijing, China. The Company also runs a platform that provides patient management solutions through its subsidiaries.

    ZCMD stock’ Current Update

    Zhongchao Inc. claimed that its self-developed patient management system has increased the duration of therapy for liver cancer patients by 40.4 percent. It resulted in increased drug efficiency, successful treatment, and also extended patient survival times.

    Zhongchao provided people with a cohesive treatment process management by applying its self-developed patient management system. It assists patients by providing education, psychological counseling, reminders about drug consumption, answers to treatment-related inquiries, and patient monitoring to make sure that they follow instructions as given. According to a study published in the BMJ, good adherence was related to decreased mortality, with death chances reduced by 44 percent in individuals who adhered well.

    Furthermore,

    As per the Global Cancer Observatory, over 400,000 new instances of liver cancer will be diagnosed in China year 2020. Surgical resection, interventional therapy, radiation, and liver transplantation are the most common treatments for liver cancer. While each treatment approach has its own set of limitations, combining them with systemic therapies such as targeted medications might improve the treatment’s effectiveness.

    During systemic therapy, one or more adverse responses frequently impair patients’ quality of life and impede their mental health, raising treatment difficulties and having a detrimental effect on patients’ survival terms. As a result, during therapy, Zhongchao employs its patient management system to continuously monitor and control adverse responses, as well as coordinate follow-up visits to help patients better their physical and mental health. The company will continue to invest in its patient management system, with the goal of making it more accessible to all cancer patients.

  • KemPharm Inc. (KMPH) stock fell during pre-market trading. Let’s see what’s happening

    KemPharm Inc. (KMPH) stock fell during pre-market trading. Let’s see what’s happening

    KemPharm Inc. (NASDAQ: KMPH) stock plunged by 0.50% at last close while the KMPH stock price plunged by 3.18% in the pre-market trading session. KemPharm is a specialty pharmaceutical firm that uses its LAT (Ligand Activated Therapy) technology to identify and create proprietary prodrugs to treat significant medical problems.

    KMPH stock’ Update

    KemPharm has stated that research using AZSTARYS will be highlighted in a poster presentation at the 2021 Psych Congress. It will be held in San Antonio, Texas, from October 29 to November 1, 2021, both digitally and in person. The data from clinical investigations evaluating the relative bioavailability and steady-state pharmacokinetics (PK) of AZSTARYS are being discussed in this presentation.

    Serdexmethylphenidate which is a KemPharm prodrug of d-methylphenidate, is co-formulated with immediate-release d-MPH in AZSTARYS. It is a once-daily medicine used to cure ADHD in patients aged six and up. AZSTARYS is being commercialized in the United States by Corium, a Gurnet Point Capital portfolio company.

    Moreover,

    The poster named “Steady-State Pharmacokinetics and Relative Bioavailability of Serdexmethylphenidate/d-Methylphenidate, a Treatment for Attention-Deficit/Hyperactivity Disorder, Containing a Novel Prodrug of d-Methylphenidate,” provides thorough information from two different pharmacokinetic studies. In the first research, 30 patients were given a single dose of AZSTARYS and one dose of extended-release d-MPH hydrochloride, and the quantity of d-MPH that entered systemic circulation (relative bioavailability) was examined (HCI). The findings in the poster showed that d-MPH plasma concentrations steadily increased after a single dosage of AZSTARYS (SDX/d-MPH capsules) and were stable through late-day time points.

    And,

    The findings from the second trial in the poster presentation showed that AZSTARYS given one time daily for four days attained steady-state d-MPH plasma levels before the third dose of AZSTARYS. Steady-state pharmacokinetics is a statistic for determining how long it takes for medication levels in the body to remain steady when given continuously.

  • Following the financial results, Cadence Bancorporation Inc. (CADE) stock fell during pre-market.

    Following the financial results, Cadence Bancorporation Inc. (CADE) stock fell during pre-market.

    Cadence Bancorporation Inc. (NASDAQ: (CADE) stock gained by 41.61% at last close whereas the CADE stock price declines by 1.77% in the pre-market trading session. Cadence Bancorporation is a local financial holding firm based in Houston, Texas. Cadence’s 1,800 employees are dedicated to surpassing customer expectations and assisting their clients in achieving financial success.

    CADE stock’ Financial Highlights

    Cadence Bancorporation announced financial outcomes for the third quarter of 2021.

    • For the third quarter of 2021, the net income was $84.0 million or $0.67 per share while for the third quarter of 2020, the net income was $49.3million or $0.39 per share.
    • For the third quarter of 2021, adjusted net income, minus non-routine income and expenses, was $83.4 million, or $0.67 per share, relative to $51.4 million, or $0.40 per share, for the third quarter of 2020.
    • At September 30, 2021, cash and cash equivalents were $3.4 billion, up from $2.1 billion on June 30, 2021, and $1.2 billion on September 30, 2020. A $1.2 billion rise in deposits drove the $1.3 billion improvements in the third quarter of 2021.

    Chairman and CEO Paul B. Murphy, Jr. commented that,

    As they prepare for the completion of their merger with BancorpSouth at the end of this week, he’d want to take the time to thank each and every one of the bankers who has contributed to the growth of their wonderful institution over the last 11 years. In the years after the Great Financial Crisis, they began with an all-star board and the purpose of deploying $1 billion in opportunistic capital to improve the banking sector. Since then, they’ve evolved into a $20 billion commercial bank that serves Texas and the Southeast. He’d like to express his gratitude to the customers and the communities in which they operate for their strength and support. This merger brings in the next chapter of Cadence Bank’s history, and they commit to continue to work hard for people and earn their trust.

  • Momentive Inc. (MNTV) stock plunge during pre-market, here’s the recent development

    Momentive Inc. (MNTV) stock plunge during pre-market, here’s the recent development

    Momentive Inc. (NASDAQ: (MNTV) stock gained by 1.47% at last close whereas the MNTV stock price declines by 14.00% in the pre-market trading session. Momentive is a pioneer in agile experience management, creating strong, purpose-built services that redefine AI by combining the greatest aspects of humans and technology.

    MNTV stock’ Financial Outcomes

    Momentive announced the financial results for the third quarter of 2021. Given below is the summary:

    • The total sales were $114.8 million, up 20% from the previous year. The top end of the previously announced projection range of $112.5 million to $114.5 million was surpassed in revenue.
    • The non-GAAP operating margin was 6.5 percent, while the GAAP operating margin was negative 17.1 percent. Non-GAAP operating margin surpassed the high end of the initially given guidance range of 2.0% to 4.0%.
    • Operating activities generated $16.7 million in net cash and $14.7 million in free cash flow, for a 14.6 percent and 12.8 percent margin, respectively.
    • As of September 30, 2021, cash and cash equivalents were $300.7 million, while the overall debt of $212.2 million, resulting in net cash of $88.5 million.

    Zendesk to acquire MNTV

    Zendesk and Momentive have reached a deal in which Zendesk would buy Momentive, plus its well-known SurveyMonkey platform. Momentive stockholders will get 0.225 shares of Zendesk stock for every share of Momentive stock, according to the current agreement. Based on the 15-day volume-weighted average price of Zendesk common stock up until and including October 26, 2021, it reflects an implied value of about $28 per outstanding share of Momentive stock.

    Moreover,

    Zendesk forecasts the merger to be growth accretive in its first entire operating year, bringing Zendesk’s revenue projection to $3.5 billion in 2024, a year ahead of its previous aim. The firms’ respective large client networks and complementary skills are likely to open up considerable opportunities for combined product adoption and enterprise traction for Momentive. To facilitate the merger, Zendesk will reinvest savings from scale efficiencies into enticing growth possibilities. Momentive CEO Zander Lurie will remain in charge of the company’s strong management team following the transaction’s completion.

  • Here’s to why Werner Enterprises Inc. (WERN) stock declines during pre-market.

    Here’s to why Werner Enterprises Inc. (WERN) stock declines during pre-market.

    Werner Enterprises Inc. (NASDAQ: (WERN) stock surged by 2.69% at last close whereas the WERN stock price declines by 5.49% in the pre-market trading session. Werner Enterprises, Inc. provides customers in the United States, Mexico, and Canada with outstanding truckload transportation and logistical services. Werner is dedicated to working on sustainability and supporting diversity, equity, and inclusiveness as a market leader.

    WERN stock’ Financial Results

    Werner Enterprises announced financial outcomes for the third quarter of 2021.

    • For the third quarter of 2021, the revenue generated was $702.9 million, this is an increase of 19%
    • The operating income and non-GAAP adjusted income for the third quarter of 2021 were $71.3 million and $73.9 million respectively. This is a rise of 15% in both operating income and non-GAAP adjusted operating income.
    • The company announced its operating margin of 10.1% for the third quarter of 2021 and a non-GAAP adjusted operating margin of 10.5%, this is a decline of 40 bps each.
    • And the diluted EPS of the company for the third quarter of 2021 was $0.94, an increase of 41%. However, the non-GAAP adjusted diluted EPS was $0.79, a surge of 14%.

    Derek J. Leathers, Chairman, President, and CEO stated that,

    In a robust freight market with unparalleled supply chain and labor issues, Werner produced high third-quarter earnings per share yet again. In a very saturated driver market, they made important investments in driver pay and sourcing, allowing them to organically build the Werner fleet this quarter. Simultaneously, they are highly integrating the ECM truckload fleet acquisition, which they completed at the start of the quarter, and ECM is operating admirably.

    Despite some unique cost and mileage productivity issues in the quarter, he is optimistic that the strategic measures are putting Werner in a strong place for stable success. Across their varied North American truckload and logistics business, they remain focused on increasing revenue, growing margins, creating free cash flow, and providing excellent safety and service to their clients.

  • A10 Networks Inc. (ATEN) stock surges during after-hours, here’s the update

    A10 Networks Inc. (ATEN) stock surges during after-hours, here’s the update

    A10 Networks Inc. (NASDAQ: (ATEN) stock gained by 1.91% at last close while the ATEN stock price rises by 13.36% in the after-hours trading session. A10 Networks is a hyper-scale company that offers secure application solutions for customers for on-premises, multi-cloud, and edge-cloud settings.

    ATEN stock’ Financial Results

    A10 Networks announced its financial results for the third quarter of 2021. Given below is the summary:

    • For the third quarter of 2021, revenue increased by 15% year over year to $65.4 million.
    • Security product sales increased by 18% year over year.
    • The company successfully weathered short-term input cost constraints, resulting in a GAAP gross margin of 79.8% and a non-GAAP gross margin of 80.4 percent.
    • In the third quarter of 2020, GAAP net income of $74.9 million (114.6 percent of revenue), or $0.94 per diluted share, including a non-recurring tax gain, compared to net income of $6.5 million, or $0.08 per diluted share.
    • For the third quarter of 2021, the Non-GAAP net income was $13.7 million, or $0.17 per diluted share, relative to $10.3 million, or $0.13 per diluted share, in the third quarter of 2020.
    • $16.8 million in adjusted EBITDA, or 25.7 percent of revenues, whereas it was $12.5 million for the same time period in the previous year.
    • Cash and cash equivalents totaled $187.5 million as of September 30, 2021, an increase of $20.6 million (12.4 percent) from $166.8 million as of June 30, 2021.

    Future Guidance

    Given the current perspective, management anticipates a ten percent increase in fourth-quarter revenue year over year, with the bottom line expanding at a quicker rate than the top line. They anticipate this favorable momentum to continue into 2022, depending on the strategy and market traction for their solutions. In the first quarter, the firm will host an analyst day to outline its growth plan for 2022 and even beyond.

    Furthermore,

    Furthermore, the Board of Directors authorized a capital allocation strategy to repay cash to shareholders, citing the considerable improvement in profit and A10’s solid balance sheet. The Board also announced a quarterly dividend as part of this. The first dividend, of $0.05 per share, will be paid on December 15, 2021, to shareholders of record on November 12, 2021, pursuant to an earlier revocation. In compliance with applicable law, further dividends will be dependent on additional assessment and approval by the Board. As it examines A10’s capital allocation strategy every now and then, the Board maintains the right to amend or eliminate the quarterly dividend in future periods.

  • Western Digital Inc. (WDC) stock is moving down in after-hours, post financial results.

    Western Digital Inc. (WDC) stock is moving down in after-hours, post financial results.

    Western Digital Inc. (NASDAQ: WDC) stock gained by 3.24% at the last close whereas the WDC stock price declines by 10.30% in the after-hours trading session. Western Digital, a data infrastructure provider, provides ecosystems in which data can thrive. The organization is driving the innovation required to assist clients in capturing, preserving, accessing, analyzing, and transforming a growing variety of data.

    WDC stock’ Financial Highlights

    Western Digital announced its financial outcomes for the first quarter of fiscal 2022. The highlights are given below:

    • Revenue in the first quarter of fiscal 2022 was $5.1 billion, growing 29% year over year (YoY). However, the revenue generated from the cloud rose by 72% and from clients, the revenue surged by 6%. The consumer revenue increased by 10% y-o-y. Due to supply problems, as well as uneven geographic demand due to COVID lockdowns, sales from both the flash and hard drive business segments dropped sequentially in Consumer.
    • GAAP earnings per share (EPS) were $1.93 in the first quarter, while non-GAAP EPS were $2.49. COVID-related expenses totaled $56 million in non-GAAP EPS.
    • The company calculated its operating cash flow was $521 million while the free cash flow for the first quarter of fiscal 2022 was $224 million.
    • And lastly, the repaid remaining Term-Loan B balance on October 22, 2021, was $943 million.

    David Goeckeler, Western Digital CEO commented,

    Despite major COVID effects and supply chain issues, powerful demand across diverse end markets, especially for their cloud products, mixed with Western Digital’s strong innovation engine, wide routes to market, and enhanced execution, they were able to achieve strong results within their guidance range. While these setbacks are temporary, Western Digital’s long-term prospects remain unaffected as the world’s digital transformation accelerates. They think that the move to the cloud, as well as the need for storage options in the client and consumer markets, will remain to provide Western Digital and their customers with significant opportunities.

    Future Outlook

    • The company is expecting its revenue to be between $4.70 billion to $4.90 billion for the second quarter of fiscal 2022.
    • And the non-GAAP EPS will be around $1.95 to $2.25 for the second quarter of fiscal 2022.