Author: Mahrukh Rehan

Taylor Morrison Home Corporation (TMHC) surged to 7.85% in the aftermarket. However, the last trading session closed at $27.1 with a decline of 0.51%.

Dallas Business Journal’s Best Real Estate Deals Award

On 30^th September 2021, TMHC announced that Green Brick Partners, Inc. Taylor Morrison, and Dallas-based Davidson Bogel Real Estate (DB2RE) won the Best Land Transaction award for the Madero residential development. Moreover, the 895-acre master-planned society will feature a variety of amenities. Not only this but there will be two amenity centers with resort-style pools, expansive green spaces with walking trails, parks, and a neighborhood retail area.

Furthermore, Madero is located between I-35W, HWY 287, and SH-114 in north Fort Worth, in one of DFW’s fastest expanding neighborhoods. TMHC had excellent success in adjacent Cibolo Hills, and they expect a similar response from Madero purchasers. However, the company is ecstatic to be recognized by the Dallas Business Journal, and they look forward to offering excellent homes in the amenity-rich community under our Trophy Signature Homes brand.

Third Quarter 2021 Results to be released soon

TMHC announced on 29^th September 2021 that the company is about to release the third-quarter 2021 earnings report on 27^th October 2021. On the same day, at 8:30 a.m. ET, Taylor Morrison will host a conference call to announce its third-quarter results. Taylor Morrison’s website, investors.taylormorrison.com, will include a live audio webcast as well as a conference call archive.

TMHC reported Second Quarter 2021 Results

TMHC reported second-quarter 2021 results on 29^th July 2021. In the second quarter of 2020, the company reported a net income of $124 million, or $0.95 per diluted share, up from $65 million, or $0.50 per diluted share, in the first quarter.

In comparison to the prior-year quarter, the Company’s second-quarter results were as follows:

• The number of net sales orders per community grew by 23% to 3.4 each month.
• The gross margin on home sales grew by 370 basis points to 19.1%.
• The overall number of homebuilding lots owned and controlled grew by 13% to almost 76,000.
• The proportion of controlled lots in overall supply grew by 700 basis points to 35 percent. The backlog grew by 50% to 10,228 sold properties for $5.7 billion, a 78 percent rise.

TMHC tactfully handled its sales activity during the quarter by delaying the release of lots to maximize its profitability opportunity. Moreover, they also accelerated the production schedule pace by over 140 percent to a record 4.8 starts per community. Despite the well-known supply-side issues confronting the sector, they are confident enough in their rigorous strategy to boost the 2021 home closings gross margin projection to the high-19 to 20% range. Lastly, they worked hard to confirm their closings target of 14,500 to 15,000 deliveries.

Xiaobai Maimai Inc. (HX) has experienced an increase of 5.05% in the aftermarket and stands at $9.99. However, the last trading session concluded with an incline of 42.58%.

U.S. Radiation Oncology Services Market

On 28^th September 2021, HX announced that it is planning to join the US radiation oncology services sector. However, a subsidiary known as We Health Limited has set foot into the cancer therapy and radiation oncology sector. On a global scale, cancer is the leading cause of mortality. Moreover, radiotherapy has been extensively embraced as one of the most frequent cancer therapies, and its use has increased steadily over time. According to the World Trade Organization, more than half of cancer patients require radiation, and it is often used to treat the most prevalent malignancies. Lastly, based on the HX’s market analysis, the management team thinks that owing to their healthcare experience and linguistic skills, radiation oncology facilities on the East Coast have sufficient potential to serve patients of all ethnicities.

Change in Management & Board of Directors by HX

HX announced on 14^th July 2021 the instant appointment of Ms. Vivian Liu to its Board of Directors, as well as the resignation of Ms. Luping Wei. HX made it clear that Ms. Luing resigned because of her own personal reasons and not because of any conflict with the HX company. Ms. Vivian Liu has vast expertise in financial investing, capital market operations, and business management. She previously used to work at Guosen Co., Ltd. Last but not the least, Nankai University in China awarded her a bachelor’s degree in Economics and Management.

Drafting of Social E-Commerce Enterprise Operational Service Standards

On 11^th March 2021, HX announced that the social e-Commerce Branch of China Association of Trade in Services has officially issued the “Social E-Commerce Enterprise Operational Service Standards”. One of the ten main organizations that participated in the writing of the Standards was Xiaobai Maimai Inc. Moreover, the Standard specifies the essential criteria across the whole process of social e-commerce, from pre-transaction to after-sales customer care, and defines the concept and business system of social e-commerce services in China. The executives of Xiaobai Maimai donated their industry knowledge and efforts to the formulation of the Standards. Lastly, those standards seek to support the healthy growth of social e-commerce in China.

Troika Media Group, Inc. (TRKA) experienced an increase of 33.54% in the aftermarket. However, the last trading session closed at $1.61 with an incline of 8.05%.

Fourth Quarter and Fiscal 2021 Results

TRKA reported fourth quarter and fiscal 2021 results on 29^th September 2021. Revenues were $3.8 million 3% down from $3.9 million the previous year. The Company reported $2.6 million in gross earnings with a 21% reduction from $3.3 million the previous year. Due to the impact of COVID-19’s financial disruption, results in the fourth quarter reflect comparisons to the prior-year period. However, cash and cash equivalents were $12.1 million as of December 31, 2020. Moreover, during the fiscal year 2021, the COVID-19 pandemic continued to wreak havoc on the TRKA’s operations. This affected client activities, notably live event traffic.

The quick spread of the Delta version over much of the globe prompted government restrictions. Temporary closures of non-essential enterprises, travel restrictions, social segregation, and quarantines were among the limitations imposed. To successfully manage the changing business climate, the Company undertook cost reduction measures in some sectors of the company.

Crossroads NFT Exhibit Sponsorship

TRKA announced on 23^rd September 2021 that the company’s subsidiary i.e., Troika IO is involved in sponsoring the Crossroads Exhibit program. The company is happy to support Umba Daima’s Crossroads Exhibit. There are countless brilliant Black and African artists across the world. Therefore, TRKA feels that the NFT exhibition is a fantastic chance to display their incredible work while also tackling societal injustices. However, Umba Daima also collaborates on innovative initiatives with businesses, sportsmen, celebrities, and artists. Umba Daima created Black NFT Art in March 2021. It is a media and community brand aimed at educating, organizing, and amplifying Black individuals in the NFT sector. Their goal was to assist attempts to establish an environment in which Black artists could mint, advertise, and sell their work effectively.

About TRKA

TRKA is a full-service brand solutions provider that adds value to worldwide companies in entertainment, sports, and consumer goods in both the short and long term. TMG helps businesses increase connection with audiences and followers across the customer experience while also building brand equity through new technologies, data science, and world-class creativity. Apple, Hulu, Riot Games, Belvedere Vodka, Unilever, UFC, Peloton, CNN, HBO, ESPN, Wynn Resorts and Casinos, Tiffany & Co., IMAX, Netflix, Sony, Yahoo, and Coca-Cola are among the companies that have worked with TRKA.

Adamis Pharmaceuticals Corporation (ADMP) experienced an increase of 42.92% in premarket after ADMP Receives FDA Approval for ZIMHI. However, the last trading session concluded at $1.13 with an increase of 2.73%.

ADMP Receives FDA Approval for ZIMHI

ADMP announced on 18^th October 2021 that ZIMHI product has been authorized by the U.S. Food and Drug Administration (FDA). ZIMHI is an FDA-approved high-dose naloxone injection for the treatment of opioid overdose. Moreover, it acts by preventing or reversing the opioid’s effects, such as severe sleepiness, decreased breathing, and loss of consciousness.

Drug overdoses resulted in roughly 96,779 fatalities in the United States for the 12-month period as stated by ADMP. According to figures provided by the Centers for Disease Control and Prevention (CDC), there was a 29 percent increase over the previous 12-month period. Moreover, drug overdoses are now the top cause of death among Americans under the age of 50. Lastly, the higher intramuscular doses of naloxone in ZIMHI should result in more rapid and higher levels of naloxone in the systemic circulation, which in turn, should result in more successful resuscitations

 New Appointment to Board of Directors

ADMP announced that Meera J. Desai, Ph.D., is the new director and member of the company’s board of directors on 4^th October 2021. Dr. Desai is the founder and managing partner of Karana Biotech. It is a boutique consultancy business located in Silicon Valley that helps pharmaceutical and biotech companies through complicated international licensing, marketing, and other strategic deals. Moreover, she was the head of corporate development at AcelRx Pharmaceuticals prior to launching Karana Biotech. Dr. Desai formerly worked at Novartis Pharmaceuticals, Nektar Therapeutics, and ALZA Corporation in the pharmaceutical development field. Later, she joined ADMP.

Drew University awarded her a Bachelor of Arts in chemistry, and Iowa State University awarded her a Doctorate in Analytical Chemistry. Dr. Desai will serve on the Adamis Board’s Audit, Compensation, and Nominating and Governance committees. The company happily welcomes Dr. Desai to the Board of Directors and looks forward to collaborating with her to create long-term value. Her extensive experience in worldwide pharmaceutical licensing, as well as her background in medication research and commercialization, will assist ADMP in fine-tuning the business strategy in order to maximize our product pipeline.

Phase 2/3 Clinical Trial for Tempol in the Treatment of COVID-19

ADMP reported on 2^nd September 2021 that Tempol, an oral antiviral product candidate, is being tested in adult patients with proven COVID-19 infection in a Phase 2/3 clinical study. Firstly, Tempol possesses antiviral, anti-inflammatory, and antioxidant properties, according to preclinical research. Secondly, Tempol has recently been recognized by the National Institutes of Health (NIH) as a possible COVID-19 home therapy.

This therapy would certainly avoid serious illness. Thirdly, Tempol appeared to have a significant antiviral effect against the virus that causes COVID-19 in laboratory experiments, according to recent NIH research. Lastly, Tempol might possibly lessen COVID-19 symptoms by relaxing inflammation, preserving organs from injury, and minimizing platelet clumping.

Baidu, Inc. (BIDU) experienced an increase of 5.39% in the premarket. However, the last trading session closed at $163.63 with an incline of 0.57%.

BIDU and China Gas Collaboration

On 21^st September 2021, BIDU has signed a strategic partnership agreement to use Baidu AI Cloud. This will accelerate digital and intelligent transformation in the energy and power sectors. Moreover, the firms will also look at commercial options that help them reach a carbon-emissions peak and, eventually, carbon neutrality. With a worldwide focus on smart energy and environmental protection, cloud and AI technologies are proving to be indispensable tools for improving efficiency.

Baidu will accelerate China Gas’ migration to the cloud and use its AI skills to create customized apps. The apps include smart monitoring, smart scheduling, gas use prediction, and smart customer services. In addition, BIDU AI Cloud is one of China’s top four network infrastructure providers, offering a comprehensive spectrum of cloud services and solutions that are distinguished by AI. Lastly, Baidu AI Cloud had a major update in July 2021, positioning it for success in a variety of areas, including the Internet, media, telecom, banking sectors, logistics management, education, and manufacturing.

Smart New Energy Heavy-Duty Truck to Automate Road Freight

On 17^th September 2021, BIDU revealed about Xingtu. It is a smart new energy heavy-duty vehicle with more than 500 TOPS of processing power and ultra-long-range sensing capabilities. BIDU has announced its foray into the multi-trillion-dollar global freight sector. Moreover, Xingtu is an example of the future generation of automobiles. Between 2024 and 2026, the first generation of Xingtu will offer L3 self-driving on high-speed freight routes, with L4 capability on the same routes.

To be commercially successful, autonomous driving must employ sophisticated driverless technology to develop new goods that provide the ultimate experience. Furthermore, the company wants to provide value in real-world scenarios like people transportation, distribution, and life services. This next type of truck isn’t simply a modified truck; it’s a robot truck.

BIDU reported about Series B at $5.1 Billion Valuation

BIDU announced that Xiaodu Technology has concluded its Series B fundraising at a post-money valuation of $5.1 billion on 24^th August 2021. The company is excited to watch Xiaodu’s quick development, which is utilizing Baidu’s AI and vast content and services mobile ecosystem to transform the way hardware delivers value to customers. Moreover, Xiaodu entered the market in 2018 with sub-RMB 100 smart speakers and quickly rose to become the world’s leading smart-display vendor based on shipments. DuerOS is expanding Internet usage at home and becoming the command center for IoTs. After the transaction, BIDU retains a supermajority stake in the company. Lastly, Xiaodu Series A completed with a post-money valuation of $2.9 billion in November 2020.

Ocugen, Inc. (OCGN) experienced a decrease of 11.43% in the pre-market. However, the last trading session closed at $8.66, with a decline of 13.83%.

Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

On 16^th October 2021, OCGN’s Compensation Committee authorized the award of stock options to acquire an aggregate of 48,800 shares. In line with Nasdaq Listing Rule 5635(c)(4), the stock options and RSUs were issued as significant inducements. However, the stock options have a ten-year period and an exercise price of $8.66 per share. All of this is OCGN’s common stock closing price.

OCGN Investigation by Former Louisiana Attorney General

On 9^th October 2021, OCGN announced that the KSF’s investigation is still in progress. However, the Company announced that, rather than using the Emergency Use Authorization procedure, it will seek “biologics licensing application” with the US Foods and Drug Administration for its COVID-19 vaccine candidate/product.

The Company is now being sued in a securities class action lawsuit for failing to disclose material information and so breaching federal securities laws. The emphasis of KSF’s inquiry is on whether Ocugen’s executives and directors violated their fiduciary obligations to the company’s shareholders or otherwise broke state or federal laws.

LLC Reminds Ocugen, Inc. (OCGN) Investors with Losses Exceeding $100K

On 17^th August 2021, OCGN reported that Bronstein, Gewirtz & Grossman, LLC has filed a class action complaint against the company on behalf of stockholders who acquired Ocugen securities between February 2, 2021, and June 10, 2021. Defendants decided to make substantively false or misleading representations and/or failed to disclose that:

(1) the information supplied to the FDA was inadequate to maintain an EUA,

(2) Ocugen would not file an Emergency Use Permission with the FDA, and

(3) as a consequence of the aforementioned economic declarations, as well as Defendants’s statements about OCGN’s business, processes, and prospects, were inaccurate and misleading. 

About OCGN

OCGN is a biopharmaceutical firm dedicated to finding, developing, and commercializing gene treatments to treat blindness and creating a COVID-19 vaccine. Our groundbreaking modifier gene therapy platform has the potential to treat many retinal diseases with a single drug. The innovative biologic product aims to provide better treatment to patients with underserved diseases. The diseases include wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy.

Evolus, Inc. (EOLS) saw a push of 7.95% in the pre-market. However, the last trading session closed at $7.67 with a decrease of 0.13%.

Second Quarter 2021 Financial Results

EOLS reported second-quarter 2021 financial results on 4^th August 2021. Total net revenues grew from $26.1 million in the second quarter of 2020, up from $7.8 million in the previous quarter. The gross profit margin and adjusted gross profit margin were 53.9 percent and 56.7 percent, respectively. EOLS is raising its full-year 2021 adjusted gross profit margin target to a range of 54 percent to 57 percent based on its current performance. The adjusted gross profit margin does not include depreciation of intangibles or Daewoong settlement payment. Due to lower settlement royalty rates, the gross profit margin is anticipated to reach 70% starting in the fourth quarter of 2022.

The GAAP loss from operations fell 19 percent in the second quarter of 2020. Due to higher sales in the second quarter of 2021, the non-GAAP loss from operations decreased by 25%. However, the cash and cash equivalents were $131.7 million on June 30, 2021. Lastly, EOLS anticipates that its cash position will be sufficient to support its operations for at least the following 12 months.

Appointment of Vice President by EOLS

On 30^th June 2021, EOLS announced that David K. Erickson is the new vice president. He will be responsible for creating, executing, and overseeing a comprehensive and strategic investor relations program. David formerly worked at Establishment Labs Holdings, a worldwide medical technology and aesthetics firm. He was formerly Vice President of Investor Relations at Edwards Lifesciences, the global leader in patient-centered solutions for structural heart disease and critical care monitoring. David has also held senior positions with NIRI, The Association for Investor Relations, and has been awarded a NIRI Fellow.

New Appointment of General Manager

EOLS stated on 19^th May 2021 that Dan Stewart is the new General Manager of the company. Dan has over 20 years of expertise in medical aesthetics. He began his career at Ipsen, where he assisted with the international evaluation of Dysport for medical aesthetics. Moreover, he worked for Allergan’s aesthetics division in several sales leadership capacities before rising to the position of UK Business Unit Director. In addition, he also promoted Natrelle silicone breast implants, Vistabel, and Juvederm Ultra, throughout Europe during his time at Allergan.