STOCKS TELEGRAPH

Author: Maria Masood

  • Reliance Global Group, Inc. (RELI) Stock Dipped in After Market Despite Clear Reason

    Reliance Global Group, Inc. (RELI) is a leading AI and cloud-based company engaged in the purchase and management of insurance agencies in the US. The company provides insurance for different sectors such as personal, commercial, healthcare, transportation, and employee-oriented products. One of the lead candidates of the company is 5MinuteInsure.com

    The price of RELI Stock during the regular trading on December 23, 2021, was $4.32 with a sharp decline of 10.74%. During the aftermarket, the stock was further down by 5.09%.

    Events and Happenings in RELI

    On December 23, 2021, RELI reported a private placement of preferred stock, common stock, and warrants with institutional investors for gross proceeds of $20.0 million. The offering will close on December 27, 2021. On December 22, 2021, RELI reported that about its entry into a definitive agreement to purchase Medigap Health Insurance Company.

    On December 15, 2021, RELI reported that the top management of the company presented at the Benzinga All Access event held on December 16, 2021.  On December 07, 2021, RELI reported about the launch of 5MinuteInsure.com services in eight US states including Connecticut, Illinois, New Mexico, Nebraska, South Dakota, Nevada, Vermont, and Wisconsin. On November 29, 2021, RELI reported about its successful launch of 5MinuteInsure in Missouri, Alabama, Iowa, and West Virginia.

    On November 15, 16, 17, and 18, 2021, RELI reported about the successful launch of 5MinuteInsure.com in Tennessee, Virginia, North, and South Carolina respectively.

    RELI: Key Financials

    On November 10, 2021, RELI reported the financial results for the third quarter ended September 30, 2021. Some of the key highlights are as follows

    Revenue

    A 54% increase in revenue was observed over the year as the revenue generated during the third quarter of 2021 was $2.6 million as compared to the same period of 2020 when it was $1.7 million.

    Net Loss per Share

    Basic and diluted net loss per share was $0.59 million or $0.05 per share for Q3 2021, as compared to $1.2 million, or $0.30 per share for the same period the prior year.

    On November 03, 2021, RELI reported about the successful launch of 5MinuteInsure.com in Michigan and Arizona. On October 19, 2021, RELI reported that that the top company management presented at the Dawson James Securities Small Cap Growth Conference held on October 21, 2021.

    Conclusion

    The price of RELI stock dropped 93% from the past month mainly due to uncertain market conditions. The company should make investor friendly policies so that the consumers are attracted towards this potential market. The analysts are confidant that the sound policies of the company will improve its rankings and also its market situation.

  • Inspira Technologies Oxy B.H.N. Ltd. (IINN) Stock Declining Today. Here’s What you Should Know

    Inspira Technologies Oxy B.H.N. Ltd. (IINN) is a leader in the development of medical tools and devices mainly focusing on respiratory care. One of the lead product devices of the company is augmented respiratory technology (ART), or artificial lung for patients with debilitating respiratory systems. A hemo-protective flow approach is utilized in this device which rebalances saturation levels to lessen the patient’s need for machine-driven ventilation.

    The price of IINN stock during the regular trading on December 22, 2021, was $4.18 with a momentous incline of 23.67%. At last check in the current market on December 23, 2021, the stock was down by 6.46%.

    Events and Happenings

    On December 9, 2021, IINN reported signing an exclusive summary distribution collaboration agreement with Innovimed. The strategic partnership will result in the deployment of 1522 ART devices in Slovakia, the Czech Republic, and Poland. On December 8, 2021, IINN reported about filing a patent application for its innovative ART device and its exclusive approach of use to lessen the need for mechanical ventilation.

    Key Financials

    On November 23, 2021, IINN reported its financial results for the third quarter ended September 30, 2021. Some key updates are as follows

    Net Profit

    Net profit for the three months ended September 30, 2021 was $2.2 million, against the same period of 2020 when it was $0.34 million.

    Total Current Assets

    Total current assets of the company on September 30, 2021, were $17.8 million.

    On November 12, 2021, IINN reported that the top management of the company presented at the H.C. Wainwright 7th Annual Israel Virtual Conference on November 15, 2021. On November 10, 2021, IINN) reported about filing a patent application to the World Intellectual Property Organization for its innovative dual lumen cannula, which is used for balancing patients’ oxygen saturation and carbon dioxide level.

    On October 26, 2021, IINN reported that it signed a strategic partnership pact with the WAAS Group. The collaboration is the part of the deployment of 1040 ART devices in Spain and Portugal. On October 13, 2021, IINN reported the company’s ART device presentation at the HLTH conference in held on October 17-20. On September 30, 2021, IINN reported that it hosted the Virtual TechTalk event titled ‘Has COVID-19 changed the game?’ on October 6, 2021.

    Conclusion

    The stock of IINN is gaining momentum from the past month (46% increase observed) possibly due to the company’s strategic partnership with some of the big names of the industry. The analysts are hoping that the company will revive its legacy of showing innovative devices and thus has a far-reaching impact on the investments of the company.

  • Here’s the Reason of Meten Holding Group, Inc. (METX) Stock Climbing in Pre Market

    Meten Holding Group, Inc. (METX) is one of the leading English language training service providers in China. The company provides training and skills in the English language to students and professionals. The company is also involved in the businesses outside China related to blockchain and cryptocurrency mining, mining farm construction, and also mining pool and data center operational services.

    The price of METX sock during the regular trading of December 22, 2021, with a 0.15% increase was $0.26. At last check in the pre-market, the stock was further significantly up by 5.78%.

    Events and Happenings

    On December 22, 2021, METX announced the finalization of an agreement with the top professionals for the company’s joint venture in the research, development, production, and sale of mining tools related to cryptocurrency. The event took place on December 20, 2021.

    CEO Comments

    Speaking on the occasion of the finalization of the agreement, Chief Executive Officer of METX, Alan Peng said that the company management was pleased with the collaboration that fits the strategy of the company’s business line. He further added that by the next year, the company’s management expected to see preliminary results of METX’ new business collaboration and the company will start to generate the revenue.

    Key Financials

    On November 22, 2021, METX reported financial results for the third quarter ended September 30, 2021. Some of the key highlights are as follows

    Revenue

    Q3 2021 revenue dropped 36.9% year-on-year to RMB187.9 million (US$29.2 million), as compared to the same period prior year when it was RMB297.7 million.

    Net Loss

    Net loss reported for the third quarter of 2021 was RMB175.3 million (US$27.2 million), as compared to a net loss of RMB39.7 million for the same period of 2020.

    On November 12, 2021, METX reported about the closure of the registered direct offering. The buying price of the shares was $0.60 per share. The gross proceeds price of the offering was $20 million. On October 28, 2021, METX reported about the strategic collaboration with AGM Group Holdings to fast-track the development of the company’s blockchain and cryptocurrency-related mining venture.

    On September 7, 2021, METX reported the closure of an already announced public offering of $60 million. The Offering comprised 22,500,000 of the METX’ ordinary shares at the public offering price of $0.30 per share and 177,500,000 warrants offered at the public offering price of $0.2999 per share. On September 1, 2021, METX reported about its new step in an advanced blockchain and cryptocurrency business with the aim of changing the perspective of the METX among novel enterprises.

    Conclusion

    The company’s pre-market stock price showed a significant surge possibly due to the partnership with the top professionals of the industry in the cryptocurrency business. Although the stock price dropped 27% from the last month yet the new venture is proving beneficial for the company to attract potential investors.

  • Here’s why the Mereo BioPharma Group PLC (MREO) Stock Gained Momentum in the Pre Market

    Mereo BioPharma Group PLC (MREO) is leading oncology and rare diseases-related biopharmaceutical company. The main product candidate of the company is etigilimab (OMP-313M32) for the prevention of tumors. Another lead product of the company used for the prevention of late-line ovarian cancer is navicixizumab. The two rare diseases candidates of MREO include alvelestat (prevent Alpha-1 antitrypsin deficiency or AATD) and setrusumab (prevent osteogenesis imperfecta).

    The price of MREO stock on December 22, 2021, was $1.61 with a slight decline of 2.42%. On December 23, 2021, at the last check in the pre-market, the stock price showed an increase of 0.62%.

    Events and Happenings

    On December 22, 2021, MREO and The University of Alabama at Birmingham reported top-line results from Phase 1b/2 trials evaluating alvelestat, an innovative and orally active Neutrophil Elastase suppressor in severely infected COVID-19 patients. On December 13, 2021, MREO reported that it presented the data from the preliminary patients in a sponsored clinical study of alvelestat after hematopoietic stem cell transplantation. The results were presented at the 63rd Annual Meeting of the American Society of Hematology.

    On November 30, 2021, MREO announced positive results in terms of the product efficacy, safety, and biomarker data on patients from Phase 2 clinical trials of anti-TIGIT antibody, etigilimab, in amalgamation with nivolumab. On November 09, 2021, MREO reported that top management of the company presented at two investor conferences i.e., Jefferies London Healthcare Conference on November 17 and 33rd Annual Piper Sandler Virtual Healthcare Conference on November 22.

    On October 26, 2021, MREO reported that FDA had awarded Orphan Drug Designation to alvelestat for the prevention of AATD. On October 13, 2021, MREO, OIFE, and OIF reported the conclusion of patient enrollment in the data gathering to study the effect of Osteogenesis Imperfecta (OI) had on patients and families. The survey concluded with up to 2200 patient responses and the study will be helpful in diagnosis and treatment. The findings will be published in 2022.

    On October 01, 2021, MREO and Ultragenyx Pharmaceutical announced that the findings from Phase 2 trials on secondary endpoint of setrusumab were presented at the 2021 Annual Meeting of the American Society for Bone and Mineral Research.

    Key Financials

    On November 8, 2021, MREO reported the six-month financial outcomes ended on June 30, 2021. Some of the key highlights are as follows

    Revenue

    The revenue collected for the six-month period was £36 million.

    Basic and Diluted Loss

    Basic profit per share for the six-month period 2021 was £0.02 (with nil diluted profit) against the basic and diluted loss per share for the same period prior year was £1.05.

    Total Assets

    The total assets of the company for six months in 2021 were £144 million.

    Conclusion

    As the company announced the positive findings from the recent clinical trials of the product, the stock price began to surge phenomenally. The analysts are suggesting the aforementioned increase to be the result of the company’s strong and investor-friendly strategies and collaborations.

  • Biocardia Inc. (BCDA) Stock Took a Leap in the Pre-Market Despite any Visible Reason

    Biocardia Inc. (BCDA) is an innovative regenerative therapeutics company that develops medication for different cardiovascular indications. One of the lead product candidates of the company is CardiAMP used for the treatment of myocardial infarction and chronic myocardial ischemia. Another product candidate in Phase 1/2 trials is NK1R+ allogeneic bone marrow-derived mesenchymal stem cell therapy for the ischemic systolic myocardial infraction.

    The price of BCDA stock during the regular trading inclined 6.16% on December 22, 2021, to $2.24. At last check in the premarket, the stock was further up by 3.57%.

    Events and Happenings

    On December 15, 2021, BCDA announced its entry into a long-term lease agreement for a new facility in California. The purpose of this facility was to provide sustenance to the production of the company’s cell and device-related product candidates across BCDA’s therapeutic ventures.

    Key Financials

    On November 10, 2021, BCDA announced its financial results for the third quarter of 2021. Some of the key highlights are as follows

    Revenue

    Revenue reported for the third quarter of 2021 was $0.82 million and it increased in comparison to $0.03 million for the same quarter of 2020.

    Net Loss per Share

    Basic and diluted net loss per share decreased over the period of the year from $3.8 million or $0.30 per share in Q3 2020 to $2.7 million or $0.16 per share for Q3 2021.

    Total Assets

    Total assets of the company were reported to be $17 million n Q3 2021 as compared to the same period prior year when the assets were $9.5 million.

    On October 21, 2021, BCDA reported the treatment of its initial subject for Phase 3 clinical trials of CardiAMP Cell Therapy for patients with no option but to bear the angina pain. The trial will approximately enroll 343 patients. On October 12, 2021, BCDA reported about the issuance of Patent for Multi-Directional Steerable Catheter which safeguards the Helix Biotherapeutic Delivery System and improves the delivery capacity of the system.

    On October 06, 2021, BCDA reported about its participation in the Virtual A.G.P Biotech & Specialty Pharma Conference held on October 13, 2021. On September 10, 2021, BCDA reported the presentation of its CardiAMP Cell Therapy data at the Heart Failure Society of America Annual Meeting 2021 on September 11. On September 9, 2021, BCDA reported about its presentation at the Virtual H.C. Wainwright 23rd Annual Global Investment Conference held on September 13-15, 2021.

    Conclusion

    The stock of BCDA inclined 9% from the past month which shows that the investors are putting their trust in the company’s strategies despite any clear reason. The company, through its CardiAMP cell therapy, is making a mark in the healthcare department.

  • Advaxis, Inc. (ADXS) Stock Declining in the After Market. Here’s What you Should Know

    Advaxis, Inc. (ADXS) is a leading biopharmaceutical company which primarily focuses on the development and marketing of Listeria monocytogenes (Lm) based antigen delivery products for the treatment of tumors. One of the lead product candidates of the company is ADXS-PSA which is a Phase 2 clinical trial treatment for metastatic prostate cancer. Other products are also under development for lung cancer and human papilloma virus-associated cancers.

    The price of ADXS stock during the regular trading on December 22, 2021, was $0.24 with a drop of 18.45%. At last check in the aftermarket, the price of stock further declined by 29.12%.

    ADXS: Events and Happenings

    On December 22, 2021, ADXS reported that the Company had met the requirements for trading of the Company’s stock on the OTCQX and started trading on OTCQX on December 23, 2021, using the symbol ADXS. On December 17, 2021, ADXS reported after its second reconvened special meeting of stockholders on December 16, 2021, that it planned to explore other options to maximize the input of stockholders. ADXS’s second Proposal to approve completing the company’s finalized merger with Biosight was not agreed upon at the meeting.

    On November 22, 2021, ADXS reported receiving a letter from the Nasdaq Hearings Panel, providing ADXS an allowance up to December 20, 2021, to complete its finalized merger with Biosight and establish acquiescence with the requirements for preliminary listing on The Nasdaq Capital Market.

    On November 18, 2021, ADXS reported that Glass Lewis which is a top autonomous proxy advisory company, recommended the company’s stockholders vote “FOR” the stockholder proposals related to the business combination with Biosight. On November 03, 2021, ADXS reported that top proxy advisory firm Institutional Shareholder Services Inc. (“ISS”) recommended the company’s stockholders vote “FOR” the business combination of the Company with Biosight on November 16, 2021.

    ADXS: Key Financials

    On September 10, 2021, ADXS reported its financial results for the third quarter ended July 31, 2021. Some of the main highlights are as follows

    Total Current Assets

    Total current assets reported by the company for Q3 2021 were $47.4 million.

    Net Loss per Share

    Net loss per basic and diluted share was reported to be $3.3 million or $0.02 per share for Q3 2021 as compared to the same period prior year when it was $5.8 million or $0.09 per share. The net loss considerably decreased over the year.

    Conclusion

    The stock price dropped significantly from the past month without any clear reasons, although the company has recently announced acceptance for trading on OTCQX. The company needs to do more in terms of the clinical trials of its products. The analysts are still optimistic about the company to attract potential investors in the future.

  • Enveric Biosciences, Inc. (ENVB) Stock Surged in the Pre Market Session, Here’s What You Should Know

    Enveric Biosciences, Inc. (ENVB) is a patient-centric innovative biopharmaceutical company. The company is engaged in developing next generation mental illness and cancer therapies. The therapeutics include cannabinoid components. Some of the pipeline projects of the include treatment for glioblastoma multiforme, radiodermatitis, rashes and chemotherapy-induced neuropathy.

    The price of ENVB stock at the end of regular trading session of December 15, 2021 was $1.06 with a decline of 6.19%. At last check in the pre market session of December 16, 2021, the stock surged by 7.55%.

    Events and Happenings

    On November 29, 2021, ENVB reported about participation H.C. Wainwright 2nd Annual Psychedelics Virtual Conference on December 6, 2021. Dr. Joseph Tucker, CEO of ENVB, represented the company in the conference.

    On November 18, 2021, ENVB reported about company’s cannabidiol (CBD) derived formulation for topical use, EV102, used for the treatment of radiodermatitis. The formulation showed positive results and significant reduction in dermatitis severity, and skin redness in a preclinical rodent.

    CEO Comments

    While commenting on the positive results showed by EV102, Chief Executive Officer of ENVB Dr. Joseph Tucker told that the formulation when applied topically, resulted in 50% lessening in redness severity. Almost same results were observed for dermatitis severity, which includes ulceration and skin peeling.

    On November 8, 2021, ENVB informed about its inclusion in the new AdvisorShares Psychedelics ETF, trading under the ticker symbol PSIL on the NYSE Arca Exchange. On October 26, 2021, ENVB reported that company’s CEO participated in the Wonderland: Miami conference, held on November 8-9, 2021.

    Key Financials

    On November 3, 2021, ENVB reported third quarter 2021 financials for three months ended September 30, 2021. Some of the main highlights are

    • Total assets of the company were reported to be $69.75 million.
    • Basic and diluted net loss was announced to be$2.7 million or $0.12 per share for Q3 2021, while for the same quarter of 2020, it was $0.57 million or $0.10 per share.

    On October 5, 2021, ENVB informed that PsyAITM –an artificial intelligence designed tool, had successfully identified viable psychedelic molecules for further drug discovery from company’s preliminary shortlisted 500 molecular compounds within its ‘Psybrary’. It will be helpful in treating cancer-related distress, PTSD, and other central nervous system indications.

    Conclusion

    The stock of ENVB is gaining momentum in the pre market session, despite the fact that it declined up to 40% as compared to the past month. The downfall is due to uncertain market conditions. But with the significant gain, the analysts are confidant that the stock may show improved position in the market.

  • Allied Helathcare Products, Inc. (AHPI) Stock Making Moves Pre Market Despite No Clear Reason

    Allied Helathcare Products, Inc. (AHPI) Stock Making Moves Pre Market Despite No Clear Reason

    Allied Healthcare Products, Inc. (AHPI) is one of the leading companies which manufacture and markets respiratory products which are used in healthcare industry. Some of the key manufactures of the company include medical gas equipment, respiratory care products and emergency medical products. Several products come under the category of medical gas equipment such as disposable oxygen and specialty gas cylinders, portable suction products (flowmeters, vacuum regulators and pressure regulators) along with medical gas system construction and regulation devices. Company’s respiratory care product range is used in acute to chronic respiratory malfunctions such as asthama, emphysema, pneumonia, and bronchitis and includes nebulizers, humidifiers and air compressors. The emergency medical product line includes resuscitation devices, trauma and patient handling products (bag masks, minilators, mutilators, trauma burn kits) which are used treatment of trauma induced wounds.

    The price of AHPI stock at regular trading session of December 15, 2021 was $5.48 with an impressive surge of 7.24 %. The stock was up by 11.11% in the after market session but, at last check in pre market it was up 2.2%.

    Events and Happenings

    On October 13, 2021, AHPI reported that w.e.f October 7, 2021, the Company and North Mill revised the Credit Contract to surge the availability under the loan based on inventory. The inventory advance rate remained at 25%. This increase in borrowing capacity allowed AHPI to incline its borrowing under the Credit contract to meet its needs of working capital.

    On October 8, 2021, AHPI reported that the Annual Meeting of Stockholders of the company to be held on November 11, 2021. The agenda points of the meeting were the election of five directors, approval of company’s public accounting firm, an advisory vote to approve company’s executive compensation, and the transaction of other such business which may come before the meeting or any adjournment thereof.

    Key Financials

    On September 28, 2021, AHPI reported the financials for the company’s fiscal year ended June 30, 2021. Some of the key financial features are as follows

    Gross Profit

    During fiscal 2021 the gross profit reported was $7.1 million, as compared to gross profit of $5.6 million, for the same fiscal 2020.

    Net Income per Share

    Net income for fiscal 2021 was $1.7 million or $0.42 per basic and diluted earnings per share as opposed to a net loss of $3.0 million, or $0.75 per basic and diluted earnings per share during the same period of 2020.

    Total Assets

    The total assets reported for the company for fiscal 2021 were $17 million as compared to the same period of 2020 when the total assets were $19 million.

    Conclusion

    The current market conditions are quite favorable for AHPI. The company saw a notable increase in stock price (8.3%) from the last month mainly due to uncertain reasons. The investors are hoping that the company will reap the benefit of current positive market situation.