STOCKS TELEGRAPH

Author: Shan Zee

  • EVO Payments (EVOP) Stock Gradually Rising Before Earnings Report

    EVO Payments (EVOP) Stock Gradually Rising Before Earnings Report

    EVO Payments, Inc. (EVOP), a U.S. integrated merchant acquirer and payment processing firm, closed the Monday session at a gain of +3.79% to $23.83.

    EVO Payments, Inc. is a leading supplier of payment technology and software. EVO provides retailers ranging from small to medium-sized firms to global corporations and organizations across the globe with a variety of creative, efficient and safe payment solutions. EVO offers competitive solutions that facilitate business expansion, enhance customer satisfaction, and boost data protection in the foreign markets it represents, as a vertically integrated retailer acquirer and payment processor in over 50 markets and 150 currencies worldwide.

    A planned underwritten offering of 4,500,000 shares of its Class A common stock was recently made by EVO. The Firm planed to make use of all the net profits earned by the selling of its Class A common stock shares through the negotiated deal to buy whether LLC’s interest in EVO Investco, LLC (‘EVO LLC’) and an equal number of Class B common stock shares of Blueapple, Inc., or LLC’s interest in EVO LLC and an equivalent number of Class D common stock shares of the Company, Or from an individual affiliated with Madison Dearborn Partners, LLC, they can vote for shares of the Class A common stock of the firm. J.P. Morgan was serving as the new offering’s underwriter.

    EVO Payments (EVOP) came out with $0.19 per share quarterly revenue, topping the $0.17 per share Zacks Consensus Forecast. This compares with a year ago’s earnings of $0.19 per share. For non-recurring products, these statistics are modified.

    The most recent reported quarterly report of the company reflected an 11.77 percent surprise in earnings. A quarter earlier, when it actually posted earnings of $0.11, it was expected that this business would report earnings of $0.02 per share, producing a 450 percent surprise. The business has exceeded consensus EPS expectations four times over the past four years.

    For the quarter ended September 2020, EVO Payments, which belongs to the financial transaction services industry, reported sales of $116.98 million, surpassing the analysts’ consensus estimate by 2.84%. This is opposed to $122.36 million in year-ago sales. For the past four years, the organization has topped consensus sales forecasts three times.

    EVO Payments, Inc. (EVOP) is scheduled to be reporting earnings next week.

  • Where The Equus Total Return (EQS) Stock Is Headed To After Restructuring Decision

    Where The Equus Total Return (EQS) Stock Is Headed To After Restructuring Decision

    Asset management firm Equus Total Return, Inc. (EQS) went as high as 7% in trading session on Monday session  but settled at a gain of +1.14% to $1.77 at ring of the bell.

    The Houston, Texas-based company recently decided to restructure its business model announcing that most of its shareholders had approved the Board of Directors of the Firm to classify the removal of the Company’s election as a business development company (‘BDC’) under the 1940 Investment Company Act as part of a future structural transition of Equus into an operating company. The Board also voted to increase the number of common and preferred shares allowed by the Company from 50 million to 100 million shares and from 5 million to 10 million shares, respectively.

    Instead of a closed-end fund arrangement, an operating company structure may be better in different ways for Equus and its owners. This provides a larger range of opportunities for growth by integrating with other operating entities and acquiring them. Instead of net asset value, the corporation will enjoy a price based on traditional operating criteria such as sales, income, and gross profit. Due to Equus not being governed under the 1940 Act, the policy would lower relative enforcement costs. An operating company’s status would make it more flexible to issue common and preferred stock, as well as other forms of shares, as a consideration for the company’s acquisitions and expansion.

    The firm last month also announced that it had obtained an initial payment of US$18.2 million in conjunction with the selling of its PalletOne, Inc. shareholding. The residual sum, which is expected to be obtained in the second quarter of 2021, is focused on future tax returns and a range of post-closing modifications relating to increases in working capital and numerous other items on the balance sheet.

    Previously at the end of last year, UFP Industries, Inc. had closed its acquisition of PalletOne’s equity, and that the $232 million purchase price was focused on a cash-free, debt-free balance sheet. As of 28 December 2020, UFP and PalletOne projections of PalletOne’s debt, debt-like instruments, and other changes, including transaction costs and expenditures, culminated in the owners of PalletOne holding a pro forma net equity value of approximately $130 million.

  • Albireo Pharma (ALBO) Stock Has Been Surging After NDA Acceptance

    Albireo Pharma (ALBO) Stock Has Been Surging After NDA Acceptance

    Shares of a clinical-stage rare liver disease corporation that creates new bile acid modulators, Albireo Pharma, Inc. (ALBO) surged by +6.49% to close the trading at $39.05.

    The company last week reported that it’s New Drug Application (NDA) for odevixibat has been approved by the U.S. Food and Drug Administration (FDA) to treat pruritus in patients with Progressive Family Intrahepatic Cholestasis (PFIC). Odevixibat has been developed to treat patients with rare pediatric cholestatic liver disorders, including PFIC, biliary atresia, and Alagille syndrome, as a potent, once-daily, non-systemic ileal bile acid transport inhibitor (IBATi). The FDA has given a Priority Review and set a target date of July 20, 2021, for the Prescription Drug User Fee Act (PDUFA), upholding the Company’s previous guidance for a projected introduction in the second half of 2021. Quick Route, Rare Pediatric Disorder, and Orphan Drug Designations were previously earned by Odevixibat in the U.S.

    Odevixibat has the ability to become the first approved prescription therapy for patients with PFIC, with regulatory applications completed in record time and now authorized for approval by both the FDA and EMA, said Ron Cooper, President and Chief Executive Officer of Albireo. In addition, PFIC poses an interesting market potential with no licensed drugs and will pave the way for anticipated additional indications for Alagille syndrome and biliary atresia.

    PFIC is a rare and debilitating illness that causes life-threatening, progressive liver disease. In many cases, within the first 10 years of life, PFIC leads to cirrhosis and liver failure. There are no existing accepted drug treatments for PFIC, just surgical solutions. If accepted, odevixibat would provide children with PFIC with a once-daily, oral drug option.

    Odevixibat has sent a Marketing Authorization Application (MAA) in Europe to the EMA requesting PFIC permission. Odevixibat is the only IBATi that has obtained an advanced review from the EMA. Orphan status and admission to the PRIority Drugs (PRIME) program for the care of PFIC has also been granted. The Odevixibat Pediatric Investigation Proposals for PFIC and Biliary Atresia have been accepted by the EMA Pediatric Commission. For the prevention of Alagille syndrome, biliary atresia, and primary biliary cholangitis, odevixibat has Orphan Drug Designations in addition to PFIC.

    With the conclusion of U.S. and EU regulatory applications for odevixibat in PFIC, the Organization anticipates future regulatory approvals, issuance of a priority evaluation voucher for rare pediatric diseases, and launch in the second half of 2021. Odevixibat is also currently being tested in Phase 3 BOLD trial of patients with biliary atresia, the Phase 3 Alagille syndrome trial of ASSERT, and the pending Phase 3 open-label PEDFIC 2 trial of patients with PFIC. Albireo Pharma, Inc. (ALBO) has an Extended Access Service in the U.S., Europe, Canada, and Australia for qualifying patients with PFIC.

  • NeuroBo (NRBO) Lost Nearly 11%, Completed Common Stock Placement

    NeuroBo (NRBO) Lost Nearly 11%, Completed Common Stock Placement

    Shares of NeuroBo Pharmaceuticals Inc. (NRBO), a clinical-stage biotechnology company that provides therapies for neurodegenerative and cardiometabolic diseases, dropped by 10.89% on Friday. The company saw its shares declined to $5.12 from a previous closing price of $5.72.

    Last week, NeuroBo completed the sale of its previously announced private placement of a total of 2,500,000 shares and warrants of its common stock. For total proceeds to the Company of $10.0 million, each share and accompanying warrant was sold at an overall purchasing price of $4.00. The warrants have an exercise price of $6.03 per share and are exercisable for a period of five and a half years, beginning six months from the date of issue.

    On December 31, 2020, NeuroBo acquired a privately held biotechnology company ANA Therapeutics. ANA-001, which is a patented niclosamide capsule formulation for coronavirus indications, has been developed by the acquired company and is presently in Phase 2/3 clinical trials as a therapy for COVID-19. The deal was voted to approve by both the Boards of Directors of NeuroBo Pharmaceuticals as well as ANA Therapeutics.

    Richard J. Kang, Ph.D., President and Chief Executive Officer of NeuroBo, said the acquisition of ANA was an exciting and disruptive move for NeuroBo that strengthens its portfolio with a late-stage health research initiative that meets the immediate need for new drugs to counter COVID-19, a highly contagious and sometimes fatal virus.

    ANA-001 is progressing along the 505(b)(2) therapeutic process, which helps NeuroBo Pharmaceuticals Inc. (NRBO) to exploit earlier niclosamide and optimize results, and speeds up the processes for patients with COVID-19 to access this potentially life-saving treatment. As a result, a number of significant targets over the next 12 to 18 months are accompanied by the production schedule, including the data readout of the Phase 2 component of the trial, scheduled in the third quarter of 2021.

  • Reading International (RDI) Stock Fell Over 8% Despite Recent Developments

    Reading International (RDI) Stock Fell Over 8% Despite Recent Developments

    The diversified cinema and real estate company Reading International Inc. (RDI) saw its shares falling by 8.13% to $5.65 from previous price of $6.15.

    The company which owns, develops, and operates in entertainment and real estate assets in the United States, Australia, and New Zealand recently reported that the James J. Cotter Living Trust has signed into a 10b5-1 trading plan with the RDI to sell up to 276,000 Class A Non-Voting Common Stock shares. The trading agreement will take place over the period from 25 January 2021 to 4 June 2021, including 4 June 2021, or an early date when all such securities will be sold, unless the trading plan is terminated earlier in its terms and conditions.

    The Firm is informed that the aim of these planned sales according to the Trading Plan, like the 10b5-1 financial strategy adopted in 2020 by the Living Trust Co-Trustees, is to provide collateral to pay such property taxes to the Estate of James J. Cotter pursuant to the terms of the Estate Framework with the Internal Revenue Service, as well as to cover other obligations of the Living Tr.

    Among other items, the Trading Scheme requires that such transactions follow the specifications of Rule 144 of the Securities Act. The Co-Trustees of the Living Trust are Ellen Cotter, the Founder and Chief Financial Officer of the Firm, and Margaret Cotter, the Chair and Executive Vice President of the Company’s Real Estate Investment and Growth NYC.

    Reading International Inc. (RDI) has also announced the arrival of Angelika Anywhere, a video platform influenced by its Angelika Film Center in New York City, the most acclaimed dedicated arthouse in North America, curated for film lovers.

    The Angelika flagship SoHo cinema has been debuting and celebrating ground-breaking indie and foreign films since its establishment in 1989, many of which have been substantial finest examples in the overall cinema industry. Tom Tykwer’s Run Lola Run, Ryan Coogler’s Fruitvale Station, The Blair Witch Project, and Darren Aronofsky’s Pi, are among these distinguished names, which also includes Oscar winners like Searching for Sugar Man and Sebastián Lelio’s A Fantastic Woman.

  • OptimumBank Holdings (OPHC) Added 10% On Friday Retaining Growth Strategy

    OptimumBank Holdings (OPHC) Added 10% On Friday Retaining Growth Strategy

    OptimumBank Holdings Inc. (OPHC) closed the weekend session at a rise of 9.91% to $3.66. OptimumBank provides businesses and individuals with various retail and commercial banking facilities and OPHC serves as a bank holding company for it.

    OPHC reported earlier a $345,000 third-quarter net gain from the Bank, which excludes a $523,000 loss provision cost allowance. Net interest income for the nine-month period ended September 30, 2020, rose from $2,450,000 in the corresponding quarter last year to $3,631,000, reflecting a 48 percent gain. This effect can be achieved while remaining well-capitalized by regular capital investments.

    Additional Matters:

    Notably, the net effects of income are not exclusively the product of advances and cash infusions but are often the result of substantial shifts in the mix of savings and other borrowings. Fee revenue from wire and ACH payments has risen significantly. Such income amounted to $64,000 for the nine-month period ended September 30, 2019, which remains $192,000 for the nine-month period ended September 30, 2020. The annualized fee income now has a major stabilizing influence from only a few years earlier.

    At the time, Chairman Moishe Gubin mentioned that the Leadership and supervisory board took the business development exercise seriously and continued changes in operations and performance. Traditional community financing largely depends on income from net interest. OptimumBank has concentrated aggressively on new best practices of non-balance sheet fee income while keeping a close analysis of its challenges.

    OptimumBank Holdings Inc. (OPHC) has an exceptionally large and diverse Board of Directors, as has been known for some time. One advantage comes in the planning phase of the project, while another is the creation of strategic measures to drive defined objectives. These priorities include the effectiveness of the branch, additional payment facilities, and the purchase of banks or non-banks to add market segments and strategic penetration.

  • Big Rock Partners (BRPA) Surged, Set To Merge With Molecule Pharmaceutical Firm NeuroRx

    Big Rock Partners (BRPA) Surged, Set To Merge With Molecule Pharmaceutical Firm NeuroRx

    The special purpose acquisition company (SPAC) Big Rock Partners Acquisition Corp. (BRPA) flew 8.78% up on Friday to end the week at $58.74. The surge in the stock could be linked to recent developments by the companies with which NeuroRx, Inc. is in collaboration.

    Big Rock recently announced a merger agreement with a clinical-stage, small molecule pharmaceutical company NeuroRx, a success achieved by the SPAC after actively looking for a target since its market inception in 2017. As part of the agreement, Big Rock will take NeuroRx to the market for a public listing.

    For the treatment of bipolar disorder, NeuroRx produces new therapeutics such as NRX-100, 101 and for COVID-19 it develops RLF-100 or ZYESAMI (aviptadil). Big Rock and NeuroRx will combine in the terms of the merger and the business is likely to proceed to operate under the symbol “NRXP” on the Nasdaq Stock Index. The transaction is expected to take effect in the first half of 2021. NeuroRx claims to have expanded access to funding as a public Nasdaq-listed firm to continue the advancement of its groundbreaking drug pipeline pursuing Central Nervous System (CNS)/Psychiatry and Respiratory Disease.

    Under the terms of the agreement, Big Rock will issue a total of 50 million shares of Big Rock common stock to NeuroRx’s existing equity investors for their NeuroRx rights, comprising $500 million of equity compensation, at a valuation of $10.00 per common share.

    Subject to such terms, a maximum of 25 million additional shares of Big Rock common stock will be given to holders of NeuroRx pre-merger equity when RLF-100 receives emergency usage authorization from the FDA prior to 31 December 2022 and secondly when the FDA approves the Company’s filing of its RLF-100 clearance application.

    Also, NeuroRx pre-merger stock investors can earn $100 million cash earnings pursuant to such restrictions, either in case of FDA approves the Company’s COVID-19 Medication prior to December 31, 2022, and the Company’s COVID-19 Drug become listed in the FDA’s Orange Book or the authority approves Antidepressant Drug Regime the Company and that become listed in the FDA’s Orange Book.

  • Top Leisure Stocks To Watch In February 2021

    Top Leisure Stocks To Watch In February 2021

    Leisure stocks all over the world have taken a hit since the pandemic started and suffered like all major stocks. But with the vaccine insight and some parts of the world already being vaccinated, leisure stocks are seen as a good investment once again. 2021 is predicted to be the year of leisure stocks’ recovery and this is mainly due to the Covid-19 vaccine news. The leisure industry basically consists of companies which provide recreation products and certain services ranging from travel, golf courses, outdoor spaces, and swimming pools. And while many of these stocks have tanked recently, there are a few stocks which are showing potential in overcoming the pandemic that created havoc.

    Cinemark Holdings, Inc. (NYSE: CNK)

    Cinemark Holdings, Inc. (CNK)‎ has been one of the third biggest exhibitor in the United States in terms of market shares due to its 553 theatres and 5,974 screens in sixteen different countries. CNK’s administration performed particularly well during the pandemic because it closed its less profitable theatres and cut its expenses for unnecessary operations. High management also removed dividends for a short amount of time and helped in keeping the balance sheet in a positive position at $0.5 billion while refusing to take any salary until operations returned to normal. While nearly 65 percent of Cinemark’s theatres are open, they are still lower in a capacity as compared to before. With the end of the pandemic in sights, it is likely that people will once again return to activities such as movies at theatres.

    Wynn Resorts, Limited (NASDAQ: WYNN)

    While hotels have also been hampered by the pandemic and social distancing, reopening has started again through a laborious process. Hotels have the ability to tolerate empty rooms with less damage than airlines. And since the virus has spread across time, the damage is easier to contain as well which will lead to a quicker recovery. And Wynn Resorts has had a reputation on Wall Street for winning but it is still a new brand management team which faces its own challenges. As stocks fall to $67 per share, Wynn Resort’s stocks will recover with the trend of higher lows remaining intact off the coronavirus bottom.

    Carnival Corp (NYSE: CCL)

    Carnival Corporation is a British-American owned leisure cruise industry giant which is actually the largest cruise company in terms of travel leisure globally. Carnival owns more than 100 ships which provide services to 10 top line cruise brands. It is also a part of FTSE 250 and S&P 500 indices. Even in the midst of the pandemic, the company has held $8.2 billions in cash and has also held cash equivalents towards the end of its last quarter. Carnival’s share price also went up by 15 per cent towards the end of last year and its stock is expected to recover once travel reopens. The company also made up some percentage of its losses during the holiday season last year when it offered special deals and discounts.

  • TS Innovation (TSIAU) Surging Pre Market After Latch Deal

    The shares of special purpose acquisition corporation (SPAC) TS Innovation Acquisitions Corp. (TSIAU) have jumped +9.46% to $14.69 on Thursday.

    This week, the building software provider, Latch Inc has decided to merge with real estate owner and developer Tishman Speyer Properties LP’s SPAC TS Innovation to become publically traded. The deal resulted in a price surge of 42.23% in the TSIAU stock on Monday.

    The deal has a $1.56 billion market valuation, the merging firms said in a statement. Upon closure, Latch will operate under the new ticker “LTCH” on Nasdaq. Established in 2014, Latch offers smart home services such as smart entry, smart sensors, and networking to buildings and occupants. The business has partnered with major owners and developers in real estate, including Tishman Speyer, and more than 300,000 units have been reserved by the company is about 35 U.S. states. One out of ten new multifamily apartments in the U.S. is developed with Latch apps in 2019.

    The business will continue to be headed by Luke Schoenfelder, co-founder, and chief executive, and the board will be replaced by Rob Speyer, president, and CEO of Tishman who is also the CEO and Chairman of TS Innovation. Latch has $157 million in revenue registered in 2020, equivalent to a 49 percent increase over 2019. The firm will have up to $510 million in cash after the deal concludes. The transaction is anticipated to be closing in the second quarter of this year.

    TS Innovation is a Tishman Speyer created blank check company targeting takeover, capital stock swap, acquisition of assets, purchasing of stocks, reconfiguration, or a related corporate mix of one or more entities. TS Innovation recently closed its original 30,000,000 unit public offering at $10.00 per unit last November. One share of the common stock and one-third of one redeemable warrant was comprised of each unit.

    In just a bit more than 2 months of its IPO, TS Innovation Acquisitions Corp. (TSIAU) succeeded to made an acquisition deal, which highlights the potential and aggressive business model of the SPAC.

  • Eton Pharmaceuticals (ETON) Gained More Than 7% In The Last Trading Session

    Eton Pharmaceuticals (ETON) Gained More Than 7% In The Last Trading Session

    In last trading session, Eton Pharmaceuticals Inc. (ETON) stock price reached to $9.09 after a rally of +7.45%. The pharmaceutical firm specializes in the development and commercialization of novel therapies for uncommon diseases in children.

    Eton Pharmaceuticals successfully completed a deal with Diurnal Group this month for rights to commercialize ALKINDI SPRINKLE in Canada. In the United States, Eton Pharmaceuticals is currently selling the drug as an alternate for treatment of children under the age of 17 suffering with Adrenocortical Insufficiency (AI).

    CEO of Eton Pharmaceuticals, Sean Brynjelsen said that Eton has been amazed by a great deal of interest it has received from endocrinologists and caregivers in Canada since ALKINDI SPRINKLE was launched in the United States. In order to extend its relationship with DNL to include the Canadian market, Eton remained positive. The deal will allow Eton to exploit the relative success of ALKINDI SPRINKLE in the U.S. market and this will drive the company towards its ambition to become a key orphan drug manufacturer in the market.

    Martin Whitaker, CEO of Diurnal Group admitted that DNL remains fascinated by Eton’s passion and vision for ALKINDI SPRINKLE. In order to eventually introduce the medicine to young children in Canada suffering from adrenal insufficiency, where there is a substantial unmet medical need, DNL has been optimistic in expanding its partnership with Eton.

    Eton also filed a new drug application (NDA) for topiramate oral solution last month that was accepted by the U.S. Food and Drug Administration (FDA). The company had been assigned a date of August 6, 2021, by the FDA to comply with Prescription Drug User Fee Act (PDUFA).

    Topiramate is one of three oral liquid product candidates based on neurology that has been submitted to the FDA by Eton Pharmaceuticals Inc. (ETON), and all three product candidates are expected to be approved and launched this year.