STOCKS TELEGRAPH

Author: Mustafa Bin Tariq

  • Larimar Therapeutics Inc (LRMR) stock lost 56.99% in pre-market. Here’s why

    The stock price of Larimar Therapeutics Inc (LRMR) closed the recent trading session at $8.37. The stock kept oscillating between $8.31 and $8.97. During the last check, the stock of LRMR declined 56.99% to $3.6, in the pre-market. The company filed the form SC 13G/A with the SEC, on February 14, 2022. The form refers to the amendment in the form SC 13G.

    LRMR News:

    On February 14, 2022, the company provided the update on CTI-1601 clinical trials through a press release. Larimar Therapeutics Inc announced that the company received feedback on the clinical trials for CTI-1601 by the Food And Drug Administration. The feedback from the FDA stated that it is sustaining the hold on the clinical trials of CTI-1601. The feedback further stated that supplementary data is required to settle the hold. The company expects to join with the FDA to decide how to give out further information.

    The trials were put on a hold following the company’s notice to the mortality office. the mortalities occurred at the highest level of dosage in an NPH toxicology study for 26 weeks. The feedback expects the submission of a thorough report from the company regarding the 26-week NHP toxicology study

    CEO Remarks:

    The CEO of Larimar Therapeutics Inc (LRMR), Carole Ben-Maimon, said that patient safety is crucial for the company. He added that their ensuing step is to settle on how they can meet their solicitation in the best and expedient manner.

    He concluded that they stay focused on the further turn of events of CTI-1601’s and are pursuing this objective with a strong financial position. They mean to work under a cost reduction plan while settling the clinical hold.

    About LRMR:

    Larimar Therapeutics, Inc is a clinical-stage biopharmaceutical organization, which takes part in the examination, improvement, and commercialization of novel therapeutics mitochondrial issues and Friedreich’s ataxia. The company has its headquarter in Bala Cynwyd, Pennsylvania, United States of America (USA).

  • Radiant Logistics Inc (RLGT) stock gaining in after-market. Here’s why

    The stock price of Radiant Logistics Inc (RLGT) closed the recent trading session at $6.52. The stock gained 7.82% to $7.03, during the after-hours. The company announced its financial results for the second quarter of the fiscal year 2022. Radiant Logistics Inc also filed forms 8-K and 10-Q with the SEC to report the quarterly earnings.

    RLGT News

    RLGT announced the acquisition of Navegate Inc on December 6, 2021. The value of this deal was $35 million. The company also bought back around 0.87 million of its shares at a price of $7.18 per share and a total cost of $6.3 million. Since February 1, 2022, RGLT have 49.4 million outstanding shares.

    RLGT Financials:

    On February 14, 2022, Radiant Logistics Inc (RLGT) announced the financial results for the second quarter of the fiscal year 2022, which ended on December 31, 2021. Some of the key highlights from the financial results are

    • Total revenue in Q2 of the fiscal year 2022 was $332.7 million against $218.8 million in the same quarter of FY21.
    • Net income attributable to RLGT in the Q2 of FY22 was $6.9 million as compared to $3.8 million in Q2 of FY21.
    • Diluted earnings per share (EPS) was $0.14 in Q2 of the fiscal year 2022 against $0.07 in Q2 of FY21.
    • Income from operations in Q2 of FY22 was $10.5 million in comparison to $6.02 million in Q2 of FY21.

    CEO Remarks

    The Chief Executive Officer (CEO) of RLGT, Bohn Crain, said that he is pleased to report the results of another record quarter. He added that on the acquisition front, they kept on giving capital in their stock buybacks and have now bought $6.3 million in shares.

    Mr. Crain concluded that the record results of the fiscal quarter were due to organic growth. With the strategic combination of acquisitions and buybacks, they are creating a meaningful intrinsic value for the investors.

    About RLGT

    Radiant Logistics, Inc. is a logistics and multimodal transportation administrations organization conveying advanced supply chain network solutions through a variety of organizations. The company was founded in 2001 and is headquartered in Bellevue, Washington, United States Of America (USA).

  • PHX Minerals Inc (PHX) stock gained 12.77% in after-hours, Here’s why

    On February 14, 2022, the stock of PHX Minerals Inc (PHX) closed the trading session at $2.35, 0.42% less than the previous trading session. During the last check, the stock gained 12.77% to $2.65, in the after-hours. The company announced the financial results for the first quarter of the fiscal year 2022. PHX also filed form 8-K and form 10-Q with the SEC to report a major event and the quarterly results, respectively.

    PHX Financials:

    On February 14, 2022, PHX Minerals announced the financial results for the first quarter of FY22, which ended on December 31, 2021. The total revenue of the company was $16.6 million in the Q1 of FY22 as compared $6.1 million in the same quarter of FY21. The net income of PHX during Q1 of FY22 was $6.6 million against the loss of $0.59 million in the same quarter last year. The earnings per share (EPS) of the company was reported to be $0.20 for Q1 of the fiscal year 2022 in comparison to the loss per share of $0.03 in Q1 of FY21. Adjusted EBITDA increased from $2.9 million in Q1 of FY21 to $4.4 million the Q1 of FY22.

    PHX Operations update:

    The company also announced the results for its operational activities during Q1 of FY22. PHX converted 68 gross wells to the status of producing wells, during the first quarter of the financial year 2022. The company also added 54 gross wells to its mineral position. During Q1 of FY22, PHX leased 175 mineral acres against the average payment of $546 and the royalty of 22%.

    CEO Remarks:

    The Chief Executive Officer (CEO) of PHX Minerals Inc, Chad L. Stephens, said that the fiscal year 2022 clearly shows their grip of gaining from their mineral acquisition. He added that YoY royalty increased by 60% and the working interest decreased by 33% YoY.

    Mr. Stephens concluded that their mineral acquisition over the last two years will keep on proving to be fruitful in the preceding quarters. This will help them in achieving their goal.

  • Kite Realty Group Trust (KRG) stock is gaining in after-hours. Here’s why

    The stock price of Kite Realty Group Trust (KRG) closed the recent trading session at $21.37, 1.34% less than the previous trading session. The stock gained 2.95% to $22, during the after-hours. KRG announced the financial results for the fourth quarter of the financial year 2021. The company also filed form 8-K with the SEC on February 14, 2022, to report a major event.

    Financials

    On February 14, 2022, Kite Realty Group announced the financial results for Q4 of the fiscal year 2021, that ended on December 31, 2021. The main highlight for the fourth quarter of FY21 are

    • The total revenue of KRG increased from $68.3 million in Q4 of FY20 to $162.9 in the fourth quarter of FY21.
    • Loss per share of the company was $0.52 in the Q4 of fiscal year 2021 as compared to the loss per share of $0.08 in the same quarter of fiscal year 2020.
    • Net loss attributable to the common shareholders of KRG was reported to be $98.1 million in the fourth quarter of FY21 against the net loss of $6.7 million in Q4 of FY20.
    • Adjusted EBITDA for the Q4 of FY21 was $120.2 million.

    CEO Remarks

    The Chief Executive Officer (CEO) of KRG, John A. Kite, said that 2021 was an exceptional year for KRG, due to their fine operations and a merger with RPAI. He added that due to the merger there was a 33% increase in KRG’s FFO (Funds from operations) per share.

    Mr Kite concluded that with the high calibre portfolio, balance sheet, and an exceptional team of KRG, they are in the start of making a long-term value.

    About KRG

    Kite Realty Group Trust (KRG) is a real estate investment trust (REIT) that is one of the biggest public proprietors and administrators of open-air malls and mixed-use assets. The company was founded in 1968 and is headquartered in Indianapolis, Indiana, United States of America (USA).

  • TC BioPharm (TCBP) stock is gaining in the pre-market. Here’s why

    The stock price of TC BioPharm (TCBP) closed the recent trading session at $2.12, 50% less than the previous trading session. The stock gained 17.92% to $2.5 in the pre-market. On February 11, 2022, the company got listed on NASDAQ and started trading. TCBP filed the form F-1MEF with the SEC for the addition of the securities to a prior effective registration statement on February 10, 2022.

    News

    On February 10, 2022, TC BioPharm (TCBP) made an announcement for its initial public offering of 4.11 million shares and warrants for the price of $17.5 million before the underwriting discount, commission, and another cost of the public offerings. Each American Depositary Share (ADS) will represent one normal share and every warrant will act for the purchase of one ADS. ADS and Warrants will be offered to buyers in a mix of one ADS and two Warrants, at a consolidated total price of $4.25. Each Warrant will be promptly exercisable for one share, and the expiry will be after six years of the issue date.

    Also, TCBP has conceded the under-writers a 45-day choice to buy up to 0.61 million ADSs as well as warrants to buy up to 1.23 million ADSs, in any mix, at the public share cost per security.

    In other news, on February 11, 2022, announced that the ADS which represents the company’s normal share will start trading on NASDAQ under the ticker of “TCBP”. The Chief Executive Officer (CEO) of TC BioPharm, Bryan Kobel, said that listing on NASDAQ is a significant achievement for the company. He added that trading on NASDAQ will award them with admittance to one of the world’s biggest capital markets. This will upgrade their perceivability in the financial center and will unlock the shareholders’ value.

    About TCBP

    TC BioPharm is a clinical-stage biopharmaceutical organization that focuses on the disclosure, development, and commercialization of gamma-delta T cell treatments for the therapy of cancer and viral diseases. TCBP is headquartered in the United Kingdom (UK).