STOCKS TELEGRAPH

Author: Shimrez Hyder

  • Locust Walk Acquisition Corp. (LWAC) Stock Soars Following Approval of Business Combination with eFFECTOR

    Locust Walk Acquisition Corp. (LWAC) stock prices were down by 5.30% as of the market closing on August 24th, 2021. This brought the price per share down to USD$8.76 at the end of the trading day. Subsequent premarket fluctuations have seen the stock surge by 26.52%, bringing it up to USD$11.14.

    LWAC Stock Combines with eFFECTOR

    August 24th, 2021 saw the special purpose acquisition company announce the approval of all the proposals related to the acquisition of eFFECTOR Therapeutics. 93.2% of the votes cast by stockholders at the special meeting of stockholders voted in favor of the business combination. This represents roughly 71.7% of LWAC stock’s outstanding shares. Other proposals were also met with overwhelming support in the form of affirmative votes. The transaction is expected to close around August 25th, 2021, after which the company will trade on Nasdaq under the EFTR ticker for common stock and EFTRW for public warrants.

    LWAC Stock Capital Generation

    The company received elections to redeem roughly 17 million of its outstanding shares. This will result in the trust account holding approximately USD$5.2 million. Consolidated by a concurrent private placement that is expected to generate USD$60.7 million in gross proceeds, LWAC stock will have roughly USD$65.9 million of total cash proceeds from the business combination. Because of this, eFFECTOR has waived the need that the total cash proceeds be equal to or greater than USD$100 million. Before the deduction of expenses related to the combination, the combined company will have roughly USD$53.5 million in net cash available to it.

    Allocation of Resources

    The partnering company plans to allocate the capital generated from the transaction towards facilitating a readout of topline data from its ongoing Phase 2b KICKSTART trial. The trial is designed to evaluate tomivosertib in conjunction with pembrolizumab in patients with metastatic non-small-cell lung cancer (NSCLC). The funds raised from the business combination will also facilitate a readout of initial overall response rate (ORR) data from LWAC stock’s ongoing Phase 2a dose expansion cohorts. This study is designed to evaluate zotatifin in patients with certain biomarker-positive solid tumors, including, but not limited to, ER+ breast cancer and KRAS-mutant NSCLC.

    Future Outlook for LWAC Stock

    LWAC stock is poised to capitalize on the opportunities afforded to it in light of its recently approved business combination with eFFECTOR. The company is keen to leverage the resources at its disposal to usher inconsistent growth over the long term. Investors are hopeful that this will translate into significant and sustained increases in shareholder value.

  • Skywater Tech Inc. (SKYT) Stock Skyrockets Following Expansion of Existing Agreement with Rockley Photonics

    Skywater Tech Inc. (SKYT) stock prices surged by 26.23% shortly after market trading commenced on August 24th, 2021. This brought the price per share up to USD$25.99 early on in the trading day.

    Expansion of SKYT Stock’s Agreement

    August 24th, 2021 saw SKYT stock announce having expanded their engagement with Rockley Photonics, a leading global silicon photonics tech company. The trusted tech realization partner’s agreement includes wafer back-end-of-line processing for Rockley’s spectrophotometer-on-a-chip health monitoring solution. The expanded relationship is part of the multi-sourcing efforts at Rockley and will enhance the partner company’s manufacturing network reliability and scalability.

    About Rockley Photonics

    During its development phase, Rockley made use of SKYT stock’s Advanced Tech Services, after which it transitioned to production Wafer Services for front-end processing. Now the company makes use of back-end-of-line assembly capabilities at SKYT’s advanced packaging facility in Florida. The company’s Technology as a Service (TaaS) model sees the combination of process research and development, wafer fabrication, and advanced packing tech services. These serve to provide customers with powerful competitive advantages. This includes, but is not limited to, supply chain transparency, robust IP protection, and an accelerated time to market.

    SKYT Stock’s Synergy with Rockley

    Rockley is provided with a domestic U.S source for advanced wafer local components by SKYT stock. This is a critical part of the partner company’s multi-source supply-chain strategy. Consolidating its partnership with SKYT is a critical step in facilitating the expansion of Rockley’s manufacturing ecosystem as the company targets high-volume consumer and industrial applications. The expansion of the existing multi-year collaboration with Rockley demonstrates the companies’ shared vision for Rockley’s unique silicon photonics platform.

    Scope of Skywater Tech Stock’s Partnership

    Rockley has facilitated the detection of biomarkers that were previously undetectable by consumer devices using non-invasive technologies. the company expects to be able to overcome the main issues faced with mobile wellness monitoring. Existing wearable consumer electronic devices use green light-emitting diodes to monitor heart rate. The company’s infrared spectrophotometers have the ability to detect and monitor a myriad of biomarkers. This could serve to dramatically increase the functionality of wearable services.

    Future Outlook for SKYT

    The company reported a promising quarter, consolidated by the recent expansion of its agreement with Rockley Photonics. The company is keen to leverage the resources at its disposal to usher in organic growth over the long term. Investors are confident in management’s ability to facilitate consistent increases in shareholder value.

  • CynergisTek Inc. (CTEK) Stock Surges Following New Agreement with Top 10 Life Insurance Company

    CynergisTek Inc. (CTEK) stock prices surged by 13.83% shortly after market trading commenced on August 24th 2021. This brought the price per share up to USD$2.14 early on in the trading day.

    CTEK Stock’s New Agreement

    August 24th 2021 saw Backbone Consultants, a division of CynergisTek, announce a new agreement with a Top 10 life insurance company. The leading cybersecurity firm that helps organizations navigate emerging security and privacy issues will provide IT audit co-sourcing services to more than USD$90 billion in assets.

    CTEK Stock’s Services

    Audits are used by financial industries for various important business and compliance requirements. This ensures there is an effective governance structure, which serves to assess the effectiveness and efficiency of IT controls and internal processes. CTEK stock’s audit services are designed to measure organizations against HIPAA, GLBA, SOX, GDPR, PCI, and general IT audit principles.

    Scope of CTEK Stock’s Audits

    There is a growing number of companies that fill gaps in their existing programs with independent audit support. The support also supports covering audit staff shortages and facilitates the augmentation of internal capability to be able to compare results. CTEK stock’s division company, Backbone Consultants, serve companies with staff augmentation, consulting for audit readiness, and providing independent formal audits. The division is backed by extensive experience gained from its team’s background with Deloitte, PWC, Ernst & Young, and other big names. The team has demonstrated am impressive ability to work collaboratively with their clients to effectively leverage their expertise and resources in a seamless fashion.

    The Backbone Consultants

    The Backbone Consultants bring deep technical skills to the table, as well as industry understanding. This helps facilitate the assistance of clients to address their unique internal audit needs. The company is keen to apply the depth and reach of its expertise in the financial services industry. Partnerships with various clients serve for the company to help the clients identify and mitigate the cybersecurity risks facing their organizations. The company’s background in cybersecurity, data privacy, and IT auditing in conjunction with its increasing experience and knowledge in the financial services industry results in promising growth opportunities.

    Future Outlook for CTEK

    The company reported a strong quarter, most recently having announced its new agreement with a Top 10 life insurance company. CTEK stock is keen to leverage the resources at its disposal to usher in consistent growth over the long term. Current and potential investors are hopeful that this will result in significant and sustained increases in shareholder value.

  • Polarityte Inc. (PTE) Stock Dips Following Update on Status of IND Application of SkinTE with U.S FDA

    Polarityte Inc. (PTE) stock prices were down by 13.99% shortly after market trading commenced on August 23rd 2021. This brought the price per share down to USD$0.72 early on in the trading day.

    PTE Stock’s IND Application

    August 24th, 2021 saw the company provide an update about the status of its IND Application to the U.S FDA for SkinTE. The treatment developed by PTE stock has a proposed indication for chronic cutaneous ulcers and was filed on July 23rd 2021. As per the FDA’s feedback, the company needs to address certain Chemistry, Manufacturing, and Control (CMC) items before proceeding with a pivotal study.

    SkinTE Study Placed on Clinical Hold

    As a result of the FDA’s feedback, the study proposed in the IND has been placed on a clinical hold. As per standard practice and regulations, the Food and Drug Administration has advised that it will issue a clinical hold letter to the company by September 21st 2021, wherein it will provide details on the basis for the hold. PTE stock recently announced the potential for a wide range of outcomes with respect to its SkinTE IND submission.

    PTE Stock’s Response

    PTE stock is already composing a strategy to address the issues identified by the FDA. As per the FDA’s feedback, the company is confident that the changes made to its proposed clinical trial protocol will resolve any issues. The Wagner Grade 2 diabetic foot ulcers trial will be modified so as to enable the pivotal study to begin enrolling.

    PTE Stock’s Press Release

    July 26th 2021 saw the company’s press release regarding its IND submission. In the release, PTE stock cited CMC issues as being fairly common in companies seeking to transition their products from 261 HCT/Ps to 351 HCT/Ps. The company is taking active measures to address the CMC issues identified by the FDA, with the team planning to respond to the FDA’s feedback as quickly as possible. The company is confident in address the significant unmet medical need in patients with chronic cutaneous ulcers. This results in a substantial economic burden.

    Future Outlook for PTE Stock

    The company reported a promising quarter despite the lack of approval from the FDA for SkinTE. PTE stock is keen to leverage the resources at its disposal to meet FDA requirements for its IND application. Investors are hopeful that the commercialization of SkinTE will lead to consistent gains in shareholder value over the long term.

  • Bio-Path Holdings Inc. (BPTH) Stock Skyrockets Following IND Approval of BP1002 by U.S FDA

    Bio-Path Holdings Inc. (BPTH) stock prices started and closed market trading on August 23rd, 2021 at USD5.69. Premarket fluctuations saw the stock skyrocket by 43.94%, bringing it up to USD$8.19.

    FDA Approves IND for BP1002

    August 24th 2021 saw BPTH stock announce the approval of its Investigational New Drug application for BP1002 by the U.S Food and Drug Administration. The biotechnology company leverages its proprietary DNAbilize antisense RNAi nanoparticle technology to develop a portfolio of targeted nucleic acid cancer drugs. Liposomal Bcl-2 is the company’s second drug candidate, with the IND being for an initial Phase 1/1b clinical trial that will evaluate the ability of BP1002 to treat refractory/relapsed acute myeloid leukemia (AML) patients.

    Potential of BPTH Stock’s BP1002

    Patients with AML that fail frontline venetoclax-based therapy have shown very poor prognosis with a median overall survival of less than three months. Accordingly, a novel treatment modality is urgently needed for such patients. Preclinical studies have shown indicated that the BP1002 and decitabine combination is effective against venetoclax-resistant cell lines. This suggests that the combined therapy can potentially provide benefits to patients who have relapsed from venetoclax-based treatment.

    BPTH Stock Ahead of the Competition

    BP1002 targets Bcl-2 at the DNA level rather than the protein level, which allows it to possible overcome and prevent some of the mechanisms of resistance that affect venetoclax. Existing standard of care for patients with AML not eligible for intensive chemotherapy is venetoclax, an oral Bcl-2 inhibitor that targets the BH3 domain of the Bcl-2 protein, in combination with a hypomethylating agent or with low-dose cytarabine. High expression of Bcl-2 has been correlated with adverse prognosis for patients diagnosed with AML.

    Scope of BPTH Stock’s Developments

    Preclinical studies have shown the treatment to be a potent inhibitor against the Bcl-2 target. Its benign safety profile should enable BP1002 combination therapy with approved agents, such as decitabine. The company is excited to develop its clinical studies and is looking forward to generating data. This data supports the DNAbilize platform and brings the company one step closer to bringing these potentially lifesaving drugs to patients.

    Future Outlook for BPTH Stock

    The company reported a strong quarter with the IND for its BP1002 treatment being approved by the U.S FDA. BPTH stock is keen to leverage the resources at its disposal to usher in organic growth over the long term. Investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value.

  • Xeris Pharma Inc. (XERS) Stock Surged Following Approval of sNDA for Gvoke Kit

    KoXeris Pharma Inc. (XERS) stock prices surged by 21.36% as of the market closing on August 23rd 2021. This brought the price per share up to USD$2.67 at the end of the trading day. Subsequent premarket fluctuations saw the stock dip by 3.75%, bringing it down to USD$2.57.

    Approval of Gvoke Kit sNDA

    August 23rd 2021 saw XERS stock announce the approval of its supplemental new drug application for Gvoke Kit by the United States Food and Drug Administration. The company’s proprietary treatment serves to address hyperglycemia in pediatric and adult patients with diabetes 2 years of age and higher. The Gvoke Kit will be available as a 1mg/0.2 mL single dose vial and syringe kit. Each kit will contain one single-dose sterile syringe with markings for 0.1 mL (0.5 mg pediatric dose) and 0.2 mL (1 mg adult dost), along with one single-dose vial containing 0.2 mL of solution.

    Scope of XERS Stock’s Approval

    Following approval be the U.S FDA, the company expects to begin manufacturing scale up immediately. Commercial availability of Gvoke Kit is forecasted for early in the first quarter of 2022. Following its launch, the company will offer three difference administration options: Gvoke HypoPen, Gvoke PFS, Gvoke Kit. This allows for greater patient choice in a ready-to-use rescue product for roughly 6.8 million people in the United States who rely on insulin and are at risk of a severe hypoglycemic event.

    Benefits of Gvoke Kit

    The innovative formats facilitate the provision of reliable, ready-to-use liquid glucagon while offering a myriad of administrative options for patients and caregivers. Gvoke Kit serves to reduce the number of steps by eliminating reconstitution, which is critical for patients or caregivers who prefer to draw up their Gvoke rescue dose using a vial and syringe. This is especially helpful because it addresses the most common mistake in the correct administration of the conventional glucagon kit.

    XERS Stock’s Development Efforts

    The approval of the supplemental New Drug Application by the U.S FDA was supported by the company’s pharmacokinetic study. The study demonstrated a bioequivalence of a 1 mg Gvoke dose administered via a vial and syringe kit (Gvoke Kit) to that of 1 mg Gvoke administered as a pre-filled syringe (Gvoke PFS).

    Future Outlook for XERS Stock

    XERS stock reported a strong quarter with its announcement of the approval of an sNDA for the company’s proprietary Gvoke Kit. The company is keen to leverage the resources at its disposal to push for the commercialization and proliferation of its new treatment. Investors hope this will translate into significant and sustained increases in shareholder value.

  • Vivos Therapeutics Inc. (VVOS) Stock Soars Following 510(k) Clearance of mmRNA by U.S FDA

    Vivos Therapeutics Inc. (VVOS) stock prices soared by 53.65% as of the market closing on August 23rd 2021. This brought the price per share up to USD$5.90 at the end of the trading day. Subsequent premarket fluctuations saw the stock dip by 5.42%, bringing it down to USD$5.58.

    VVOS Stock’s 510(k) Approval

    August 23rd 2021 saw VVOS stock announce the granting of 510(k) market clearance to the company’s mmRNA device by the U.S Food and Drug Administration. The technology company is focused on developing and commercializing innovative diagnostic and treatment modalities for patients suffering from sleep-disordered breathing. The modified mandibular Repositioning Nighttime Appliance device will serve to treat mild to moderate obstructive sleep apnea, sleep-disordered breathing, and snoring in adults.

    Scope of mmRNA

    This 510(k) clearance from the United States FDA facilitates a path to expanded insurance reimbursement coverage for the mmRNA device. This includes coverage by Medicare, as well as for potential future government contracts and reimbursements from commercial payers that follow Medicare guidelines. 80% of the 1 billion global demographic of people who suffer from sleep apnea are undiagnosed, with 54 million undiagnosed Americans. The serious chronic illness increases the risk of comorbidities, including high blood pressure, heart failure, stroke, diabetes, dementia, and other life-threatening diseases.

    Ahead of Competition

    VVOS stock’s oral appliances serve to address the dental tissue anomalies and malformations that are commonly associated with OSA. The Vivos System facilitates a shorter treatment time of 12 to 24 months of therapy, unlike current standard-of-care interventions. Most cases of patients using the company’s treatment do not require lifetime intervention.

    VVOS Stock’s Continued Success

    The U.S FDA’s market clearance of the mmRNA appliance represents a significant milestone in the company’s ongoing efforts to develop its mmRNA appliance. The company continues to allocate resources towards providing the best possible treatment for patients who suffer from OSA. The debilitating condition causes or exacerbates a myriad of other chronic health issues can be mitigated or managed, making much of the suffering unnecessary. Next-gen products like the mmRNA are essential for the provision of a better alternative for effectively treating their OSA. The clearance facilitates the expansion of commercial insurance reimbursement.

    Future Outlook for VVOS Stock

    The company is having a stellar quarter, armed with its most recent development of the FDA approval for mmRNA. VVOS stock is keen to leverage the expanded scope of its profitability as it continues to push for the commercialization and proliferation of its flagship treatment. Investors are hopeful that management will be able to facilitate consistent increases in shareholder value over the long term.

  • JD.Com Inc. (JD) Stock on the Rise Following Disclosure of Promising Financial Reports for Q2 2021

    JD.Com Inc. (JD) stock prices were up by 3.32% as of the market closing on August 234d 2021. This brought the price per share up to USD$65.73 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by 8.23%, bringing it up to USD$71.16.

    JD Stock’s 618 Grand Promotion

    JD stock’s 618 Grand Promotion sale reported outstanding results during the second quarter of fiscal 2021. The 18-day sale lasted from June 1st to 18th, wherein more than 236 brands reports sales in excess of USD$15.44 million. 92% of the order requests from districts and counties were fulfilled on the same day as the order or the following day. 84% of small towns reported the same metric. Omni-channel played an essential part in the 618 Grand Promotion, having on-demand consumptions and one-hour delivery service being supported by more than one thousand digital and computer stores.

    Expanding Scope of Partners

    The second quarter of fiscal 2021 saw JD stock report an expansion of its various innovative partnerships with LVMH group. LVMH’s BVLGARI brand leveraged the JD.com mini-app to provide customers with a new shopping experience. This features a full suite of products including selected jewelry and watches. This marks the first time BVLGARI has partnered with a third-party online retailer in its history of 137 years.

    JD Stock’s Recent Collaborations

    LVMH group’s top luxury menswear fashion house, Berluti, reported having established its first official flagship store on JD.com over the course of Q2 2012. JD stock reported several internationally renowned beauty brands having launched official flagship stores on JD.com. Guerlain did so in early August 2021, while Givenchy Beauty and Benefit, Estee Lauder, Clinique and Origins, as well as L’Oreal’s Kiehls launched stores in July 2021. The momentum generated by the addition of these brands serves to further enrich the company’s Beauty high quality product suite. This ensures a shopping experience for customers that is best-of-class with the services provided by JD Logistics.

    Net Revenue Reports

    Net revenues for the second quarter of fiscal 2021 came in at USD$39.3 billion. This represents a 26.2% increase from the corresponding quarter in 2020. Net product revenues were up by 23.3 %, while net service revenues reported a 49.2 year over year increase from Q2 2020.

    Future Outlook for JD Stock

    JD stock reported a strong quarter, rife with a plethora of promising developments that instill confidence in current and potential investors. The company is keen to maintain the growth in stock price as investors are excited for continued gains in shareholder value.

  • Remark Holdings Inc. (MARK) Stock Volatile Following Disclosure of Financial Reports for Q2 2021

    Remark Holdings Inc. (MARK) stock prices were up by 3.64% as of the market closing on August 23rd, 2021. This brought the price per share up to USD$1.14 at the end of the trading day. Subsequent premarket fluctuations have seen the stock dip by 2.63%, bringing it down to USD$1.11.

    MARK Stock’s Quarterly Development

    The second quarter of fiscal 2021 saw MARK stock continue to develop its data intelligence business using its Artificial Data Intelligence Platform. Building on its initial success, the company is expecting solid performance following the start of the fall sports season, as well as additional growth opportunities. These opportunities would see the company partner up with other online sports gaming and iGaming businesses.MARK stock’s KanKan Artificial Intelligence Platform and Smart Queueing System is continuing to be implemented by China Mobile throughout their retail locations. The company is also developing an Artificial Intelligence of Things project to intelligently manage in-store ambient environmental equipment.

    China Mobile’s Smart Community

    The company is also preparing to bid on the second phase of China Mobile’s Smart Community business. This would see MARK stock facilitate the provision of AI solutions to for communities to enforce Covid-19 protection rules. This would be via the enforcement of health codes, the conducting of real-time temperature checks, ensuring mask wearing, allowing access only to residents or authorized persons, controlling vehicle access, and helping facilitate the protection of the elderly and children.

    MARK Stock’s DMP

    MARK stock’s Digital Marketing Platform (DMP) was deployed at the Guangzhou branch with Bank of China. The platform has also been deployed across China Construction Bank’s Yunnan branch over the course of the second quarter of fiscal 2021. This will see the provision of additional large opportunities across multiple banks and other retailers. The company also announced the completion of the design phase for Lotus Supermarket’s DMP in the Changhe shopping center, Xi’an City. The DMP is expected to be deployed later in fiscal 2021.

    Smart Campus Solutions

    Over the course of Q2 2021, the company deployed Smart Campus solutions across more than 36 campuses. This brought the total numbers of installations up to more than 300. Sales efforts and new partnerships continue to facilitate the expansion of Smart Campus solutions across various provinces.

    Future Outlook for MARK Stock

    The company reports a strong quarter, with continued developments that investors hope will help maintain the trajectory of success. The company is keen to leverage the resources at its disposal to usher in organic growth over the long term. Investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value.

  • Eros STX Global Corp. (ESGC) Stock on the Rise Following Expansion of Agreement with Amazon into South Africa

    Eros STX Global Corp. (ESGC) stock prices were up by 4.90% shortly after market trading commenced on August 23rd, 2021. This brought the price per share up to USD$0.62 early on in the trading day.

    ESGC Stocks’s Partnership with Amazon

    August 19th 2021 saw ESGC stock announce having closed a multi-year first window output deal in South Africa with Amazon Prime Video, effective immediately. The deal builds on the existing strategic pan-European output partnership between the two companies across the UK, France, Italy, and, as of 2021, Scandinavia.

    ESGC Stock’s Partnership with Empire

    Concurrently, ESGC stock has renewed its theatrical output deal with the South African distributor Empire Entertainment. The longstanding partnership was first struck in 2015, since which it has proven to be extremely successful for the companies involved. Accordingly, the company’s movies all performed extremely well in the South African territory. The company’s theatrical release of films in the South African region, are planned to continue to be managed by Empire. Amazon Prime Video will be taking Pay 1 Rights.

    Details of the Deal

    As per the multi-year Amazon deal, subscribers of Prime Video in the territory will gain access to view ESGC stock’s myriad of A-list titles.  The strategic decision to maximize the potential of the company’s film slate was demonstrated to be extremely effective with the string of recent partnerships. The immense success in European markets is hoped to be extended to the successful model in South Africa. The expanding network of partners is the basis for the significant expansion of the company’s production and acquisitions slate. This allows it to offer an expanded roster even more highly commercial filmed entertainment.

    About ESGC Stock

    ESGC stock acquires, co-produces, and distributes films, digital content, and music. Media is dispersed across various formats such as theatrical, television, and OTT digital media streaming to global users. The company became Eros STX Global Corp. following Eros Intl. PLC’s merger with STX Entertainment. The company has a presence in more than 150 countries, facilitating the delivery of prime content across a multitude of platforms.

    Future Outlook for ESGC

    The company reported a promising quarter that saw it extend its reach to the South African market. The company is keen to leverage its collaboration with Amazon Prime Video to usher in significant and sustained growth. Investors are hopeful in managements ability to facilitate organic growth in shareholder value over the long term.