STOCKS TELEGRAPH

Author: ST Staff

  • Atossa Therapeutics, Inc. (ATOS) stock up over 6%: Let’s find out why.

    Atossa Therapeutics, Inc. (ATOS) stock up over 6%: Let’s find out why.

    Shares of Atossa Therapeutics, Inc. (ATOS) stock continued the uptrend in today’s market on May 3, 2021, after gaining 0.43% at the previous closing. ATOS stock price saw a surge of 6.01% a share to reach $2.47 a share as of this writing. Atossa CEO Dr. Steven Quay’s participation in a panel discussion at Cello Health’s Cancer Progress Virtual Conference on May 6, 2021, is the only recent news announced by the Atossa stock on April 30, 2021. Let’s discuss more of it.

    What’s happening?

    Atossa Therapeutics, Inc being a pharmaceutical company engages in the discovery and development of medicines related to oncology and infectious diseases. Individuals are eyeing the upcoming panel discussion this week which will last for three days. Many speakers of reputed venture investment funds will attend the conference.

    Previous Development:

    ATOS stock on April 08, 2021, did announce the beginning of treatment of ovarian cancer patient with Atossa’s proprietary oral Endoxifen following the approval of expanded access by the U.S.A Food & Drug Administration for Endoxifen in the “Safe to Proceed” letter. Dr. Barbara Goff, Surgeon-in-Chief treated the patient at the University of Washington Medical Center. The use of Enodxifen was restricted only to that patient and the initial testing showed exceptional results of tumor response after the combination of Endoxifen and alpelisib.

    Financial View of ATOS stock:

    • ATOS stock announced its financial results for the fiscal year 2020 according to which Atossa stock had no source of sustainable revenue and no associated cost of revenue at the end of the year 2020.
    • ATOS stock reported operating expenses of $14,607,000 for the year 2020 which represents a 15% decrease as compared to the operating expenses of 2019.
    • Research and development expenses for ATOS stock were reduced by 1% as compared to 2019 to drop at $6,608,000.Stock-based compensation of $2,214,000 was mainly responsible for this decrease.
    • General and administrative expenses for ATOS stock were totaled $7,999,000 for 2020 representing a decrease of 25% as compared to 2019. The main reason for this decrease was Stock-based compensation of roughly $3,610,000.
    • ATOS stock reported cash, cash equivalents, and restricted cash of $39.7 million at the end of the year 2020.

    Conclusion:

    Things are going well for ATOS stock as far as market sentiment is concerned and the upcoming conference discussed above will further decide the future of the ATOS stock.

  • Barclays PLC (BCS) stock is falling today: What’s going on?

    Barclays PLC (BCS) stock is falling today: What’s going on?

    Shares of the Barclays PLC (BCS) stock were falling today after showing the second worst FICC performance among the global banks. BCS stock price was down by 7.40% to drop at $9.89 a share at the time of this writing. BCS stock was performing well in the previous trading session and closed with a 0.47% gain. Let’s deep dive to explore more of it.

    FICC poor performance disappointed investors:

    Barclays disappointed the investors by showing the worst performance from its investment bank. Revenue from the fixed income, currency, and commodities business showed a 35% decline according to the report. The slump in the client demand as compared to high demand at the start of 2020 is the main reason for this poor performance. Moreover , the bank anticipated that the costs for the year 2021 will surpass the costs of 2020.

    Profit before a tax of the BCS stock for the first three months of 2021 totaled 2.4 billion pounds which represents a significant increase as compared to 923 million pounds in the same period of the prior year. Profit also surpassed the average analysts’ estimate of 1.76 billion pounds.

    The impairment charge of  55 million pounds is significantly less than the 2.1 billion pounds in the same period of the prior year. Also, it is much less than the analysts’ forecast.

    Donation to India:

    BCS stock donated $1.4 million to India in order to help fight against the outbreak of deadly third layer of coronavirus pandemic. The purpose of this donation is to compensate for the shortage of basic medical equipment which is used for the treatment of COVID patients.

    Barclays chief executive said that they are continuously looking at the situation of COVID-19 in India. Currently, India is facing the worst COVID-19 as currently, it is reporting more than 300,000 new cases in a single day, and deaths in India due to COVID surpassed the number of 200,000 earlier this week.

    Conclusion:

    Despite a 65% jump in equity trading, poor performance in the bank’s debt trading value had made the BCS stock red in the stock market. Chief executive officer called it the “A Mixed result” and said that the BCS was slightly off in FICC business due to slump in customer demand.

  • Why is UXIN stock being gloomy in Pre-Market today?

    Why is UXIN stock being gloomy in Pre-Market today?

    Shares of the Uxin Limited stock, a leading used car eCommerce platform in China, continued to decline in the pre-market trading session today after facing the downtrend of 4.07% at the previous closing. In the pre-market today, UXIN stock price saw a downtrend of 5.30% to drop at $$2.68 a share as of this writing. Let’s try to figure out the reason behind this fall.

    What’s happening?

    Individuals eyeing Uxin stock are looking for some reason behind this fall to calm themselves, but the reality is somewhat different as there is no major culprit behind the falling UXIN stock price in today’s date. No analyst’s downgrades of or shrank targeted per share price of the Uxin stock have been in the recent news to justify the bearish sentiment. So what you need to know now at this point? Let’s discuss some recent past events of Uxin Limited.

    Financial Results:

    On April 28, 2021, UXIN stock did announce its unaudited third quarter of the fiscal year 2021 financial results the summary of which is given below.

    • Revenue for the three months ended December 31, 2020, decreased to RMB322.9 million from RMB466.4 million in the same tenure of the previous year.
    • The gross margin for the reported quarter was 2.9% in comparison with 59.2% in the same quarter of last year.
    • Non-GAAP adjusted loss from continuing operations reduced to MB162.5 million from RMB576.5 million in the same period of the prior year.
    • Uxin stock suffered a net loss of  RMB172.9 million in the reported quarter while the net loss in the same period of last year reached RMB966.7 million.

    Uxin Limited Business Developments:

    Uxin Limited had completed its transformation to inventory owning model during the last three months period of 2020 and initiated the process of building its first inspection and reconditioning center (IRC) in Xi’an.

    On April 22, 2021, Uxin signed the strategic partnership agreement with JD.com pursuant to which both Uxin and JD will work together in order to provide consumers the facility of used car transactions in one platform i.e. Jd’s platform, via the launch of a self-operated online store.

    Conclusion:

    Things are not going well for UXIN stock as far as market sentiment is concerned. The recently announced financial results were far less as compared to the same period of the prior year but this happened due to Uxin’s complete transformation to the inventory owning model and management is optimistic that the UXIN stock would again find momentum in the future.

  • Ocugen, Inc. (OCGN) stock falls in Pre-Market today: Why is it so?

    Ocugen, Inc. (OCGN) stock falls in Pre-Market today: Why is it so?

    Shares of Ocugen, Inc. (OCGN) stock were down in the per market trading session today after recording the gain of 6.69% with an $11.96 per share price. OCGN stock price went down by 3.60% to drop at $11.53 a share at the time of this writing. There is no particular activity by the Ocugen today however OCGN stock on April 28, 2021, announced the closing of a previously announced registered direct offering of common stock. Let’s explore more about OCGN stock.

    What’s happening?

    There is no specific reason behind the declining stock price of the OCGN stock today. No signs of analysts’ downgrade or shrank targeted per share price of the OCGN stock have been in the recent news. The most recent activity by the Ocugen stock is that it announced the closing of the previously announced registered direct offering of its common stock. OCGN stock offered 10 million shares of its common stock to healthcare-focused institutional investors at a purchase price of $10 per share. The gross proceeds resulting from this offering were roughly $100 million without the deduction of placement agent’s fees and other offering-related expenses which Ocugen has to pay.

    Net proceeds resulted from this offering would be used for general corporate purposes and capital expenditures by the OCGN stock. Moreover, part of the proceeds will also be used in the working capital as well as general and administrative expenses by the Ocugen stock.

    COVID-19 Vaccine Development:

    About a week ago, OCGN’s partner Bharat Biotech announced positive data for the second interim analysis of the phase 3 study of Covaxin. According to the data, Covaxin showed 100% efficacy against severe COVID-19 disease, and efficacy of 78% was shown by Covaxin candidate against mild, moderate, and severe COVID-19 disease. After getting encouraging results from the phase 3 study, Ocugen stock is hoping to win the EUA for Covaxin. Currently, Covaxin has been playing a major role in the fight against deadly pandemic in India.

    Conclusion:

    OCGN stock is gloomy so far in the stock market but it showed considerable overall growth in recent times.The positive results of the phase 3 study of Covaxin are the main reason behind this growth but still OCGN stock is lagging in the race of COVID-19 vaccine development as companies like Pfizer, Moderna, and Johnson& Johnson have already contracted the U.S government for the supply of millions of vaccine doses.

  • Why is Brooklyn ImmunoTherapeutics, Inc. (BTX) stock falling today?

    Why is Brooklyn ImmunoTherapeutics, Inc. (BTX) stock falling today?

    Shares of the Brooklyn ImmunoTherapeutics, Inc. (BTX) were down in the current market today amid the spread of the news of the acquisition of a license for its mRNA technology platform. It seems that profit-takers have stepped in as BTX stock price saw a downtrend of 13.45% to drop at $37.85 a share at the time of this writing after soaring as much as 75.62% with a $43.73 per share price at previous closing. Let’s deep dive to explore more about BTX stock.

    What’s happening?

    Brooklyn ImmunoTherapeutics, Inc is a biopharmaceutical company focused on the development of products to treat patients suffering from cancer. BTX stock today got an exclusive license for the mRNA Technology platform of Factor Bioscience Limited and Novellus Therapeutics Limited in order to develop genetically edited cells to treat patients suffering from various cancers, blood, and other disorders. The license is the result of the previously announced exercised option according to which BTX stock paid  $1 million in order to acquire a license for the mRNA Technology platform of Factor Bioscience Limited and Novellus Therapeutics Limited.

    According to the license, BTX stock will use an extensively patented process in order to develop the gene-editing compounds using mRNA.The mRNA cell reprogramming is the efficient and footprint-free technology of the licensed mRNA technology platform for allogeneic as well as autologous cells. This technology is combined with mRNA-based gene editing along with a proprietary gene-editing protein for the elimination of off-target effects. The licensed platform also includes the ToRNAdo lipid delivery system for the efficient delivery of mRNA ex vivo and in vivo to the brain, eye, skin, and lung tissue.

    Management View on Acquisition of License:

    The Chief Executive Officer and President of the Brooklyn, Howard J. Federoff, M.D., Ph.D., considered this newly acquired license as a sign of significant advancement towards the treatments of cancer and other blood diseases. According to him, BTX stock is looking forward to continuing the work initiated by Factor Bioscience and Novellus.

    Future Plan:

    BTX stock is planning to start the pre-clinical development programs for sickle cell anemia, solid and liquid tumors along with other inherited monogenic disorders. Brooklyn intends to be at the stage of Investigational New Drug for at least one of the above-mentioned development programs by 2024.

    Conclusion:

    After gaining over 75% in the last trading session, BTX stock is now gloomy as far as market sentiment is concerned. BTX management is optimistic for the future growth in mRNA technology and planning to initiate various pre-clinical development programs. Hence BTX stock can be a good bet for investors in the long run.

  • Why is the stock of ADMA Biologics Inc. (ADMA) skyrocketing in premarket?

    Why is the stock of ADMA Biologics Inc. (ADMA) skyrocketing in premarket?

    ADMA Biologics, Inc. (ADMA) a biopharmaceutical company focused on commercializing specialty plasma-derived biologics, confirmed that the U.S. Food and Drug Administration (FDA) has approved the Company’s enlarged production process, which allows fractionation and purification of plasma pool with a 4400 liter volume, to produce Intravenous Immune Globulin (“IVIG”). ADMA stock surged adjacent to the news.

    At last check in premarket trading, shares of ADMA Biologics Inc. (ADMA) were up 17.89% at $2.06. The price range of the company’s shares was between $1.82 and $1.95. The stock recorded a trading volume of 1.69 million shares, which is below the average daily trading volume published for the last 50 days of 3.16 million shares.

    About ADMA Biologics, Inc

    ADMA has presently developed three FDA-approved plasma-derived biologics for the treatment of immune deficiencies and to prevent several infectious diseases and provide enhanced immunity. ADMA produces its immune globulin-related products in Boca Raton, Florida, at its FDA-licensed plasma fractionation and purification facility. ADMA also focuses on plasma collecting in the U.S., which provides a portion of its blood plasma to produce its products.

    The 4,400-liter IVIG plasma pool scale for BIVIGAM® lets ADMA increases the production plant’s total processing volume from 400,000 liters to an expected 600,000 liters. Allowing ADMA to manufacture BIVIGAM® at an increased capacity, maintaining the same quality as the previous manufacturing scale, while using the same machinery and labor force.

    ADMA expects this will improve gross margins due to increased production combined with economies of scale. With this approval for FDA, ADMA additionally will now be able to offer BIVIGAM® in two unique sizes, consisting of 50ml and 100ml variations.

    “The FDA approval of the 4,400-liter IVIG plasma pool production scale process is a transformative milestone for the ADMA organization and will allow the Company to produce significantly more IVIG for the U.S. market and for patients living with immune deficiencies,” said Adam Grossman, President and Chief Executive Officer of ADMA.

    ADMA Biologics is expecting its quarter-over-quarter revenue to grow throughout 2021 due to a substantial increase in production capacity. Expansion of plasma pool manufacturing has allowed the company to forecast generating more than $300M in revenue. Enhanced Gross Margins and Cost Efficiencies are expected to accelerate in 2022 and provide profitability.

    Conclusion.

    FDA approval for the Company’s enlarged manufacturing process has peaked investor interest. Total Capacity increase from 400,000 Liters up to 600,000 Liters has forecasted revenue to surge substantially, with ADMA stock rising immensely.

  • A Rise In Teligent (TLGT) Stock In Early Trades: Why?

    A Rise In Teligent (TLGT) Stock In Early Trades: Why?

    In the current market trading session, Teligent Inc. (TLGT) advanced 4.74% at $0.63. During the previous trading session, Teligent stock gained 3.69% to close at $0.60. The TLGT stock was traded between $0.581 and $0.635. There were 3.01 million shares traded, which was below its daily average of 6.62 million shares over the past 100 days. Recent news could probably provide some insight since the TLGT stock wasn’t up for current news.

    Recent developments:

    Teligent is a generic pharmaceuticals specialty manufacturer. TLGT manufactures, markets, distributes, and sells generic topical pharmaceutical products, branded generic pharmaceuticals, and generic injectables in the United States and Canada. There are generic pharmaceutical products available by TLGT in topical, injectable, and ophthalmic dosage forms. In addition, Teligent is involved in liquid and semi-liquid topical pharmaceutical manufacturing, formulating, filling, and packaging for pharmaceutical and over-the-counter needs.

    Teligent’s Chief Financial Officer Ernest R. De Paolantonio was officially appointed this month and he took over on April 15, 2021.

    Mr. De Paolantonio has been a financial and business expert in the pharmaceutical industry for over 40 years. De Paolantonio most recently served as Chief Financial Officer of Fortovia Therapeutics, a private health care company that provided support for cancer patients and their families.

    Further compensations:

    In connection with the hiring of Mr. De Paolantonio, Teligent (TLGT)’s Board of Directors authorized the grant of 195,000 restricted stock units and 240,000 shares of TLGT Common Stock to Mr. De Paolantonio.

  • What is happening with Surface Oncology (SURF) stock?

    Surface Oncology (SURF), a clinical-stage immuno-oncology company developing next-generation immunotherapies and using biological pathways to target the tumor microenvironment, announced the appointment of a new chief business officer, Henry Rath. Furthermore, Alison O’Neill was promoted to the chief medical officer and Jessica Fee to the chief financial officer. Surf stock price saw no variation adjacent to the news.

    At last check in current market trading, shares of Surface Oncology Inc. (SURF) gained 0.68% $7.45. SURF stock closed the last session at $7.40, increasing 5.56% or $0.39. Shares of Surface Oncology inc fluctuated between $7.05 and $7.52 throughout the day.  It traded 1.14 million shares, which was below its daily average of 1.6 million shares over 100 days.

    About Surface Oncology

    Surface Oncology has currently collaborated with two pharmaceutical companies. The first partnership with Novartis targets CD73 (NZV930; Phase 1), while the second partnership with GlaxoSmithKline is presently targeting PVRIG (SRF813; preclinical).SURFpipeline is inclusive of two clinical-stage assessments focusing on CD39 (SRF617) and IL-27 (SRF388), as well as a preclinical program specializing in reducing regulatory T cells through targeting CCR8 (SRF114)

    Surface oncology has also been recognized by the Boston Business Journal as one of the Best Places to Work in 2021. Employees were asked to rate the company culture, work-life synergy, job satisfaction, the opportunity for career growth, and benefits. SURF met the criteria and will be awarded at a virtual celebration on June 16th.

    Furthermore, newly appointed Chief Business Officer, Henry brings more than two decades of experience in the biotechnology industry, working in various roles such as corporate finance, strategy, commercial planning, and business development. Henry started his early career working in roles of banking and consulting industries, focusing on biotechnology with Oppenheimer & Co. and LEK Consulting. He earned his undergraduate degree from the well-esteemed Harvard university after which he did his MBA from Wharton University.

    Chief Financial officer Jessica Fees also brings more than two decades of experience in finance and operations, serving roles such as president of Glide Consulting and held senior positions at Aileron Therapeutics and Tokai Pharmaceuticals.

    Conclusion:

    Several collaborations with pharmaceutical companies combined with company executives with immense knowledge and experience has peaked investor expectation for the company. Furthermore, positive work culture has been extremely significant for the company to reach its objectives.

  • Why shares of Sundial Growers Inc. (SNDL) are rising in premarket trading?

    Sundial Growers Inc. (SNDL), a cannabis company that engages in the production and distribution of flowers, pre-rolls, and vapes, announced on Friday that it has increased its financial commitment to SunStream to $188M, which was previously announced to be $100M. SNDL stock increased substantially adjacent to the news, with SNDL share price still rising to date.

    At last check in premarket trading, shares of Sundial Growers Inc. (SNDL) were up 2.22% at $0.89. The stock of SNDL gained 4.36% to complete the last trading session at $0.87. The price range of the company’s shares was between $0.8461 and $0.90.In the past 12 months, the company’s stock has advanced 74.26%

    About Sundial growers.

    The company announced in march to initiate a joint venture with the SAF Opportunities LP through a newly established corporation, SunStream Bancorp. The joint venture has been established with a 50% stake for each company and was created with an objective to stimulate investment opportunities in the cannabis space, by offering exposure to debt, equity, and hybrid investments.

    SunStream was initially given the task to create a special opportunities fund, with assistance from various other partnerships as well as the financial commitment from SNDL. An update regarding capital commitment to several third parties is expected within a couple of months. It is also expected that the joint venture should will pursue other opportunities such as a Canadian SPAC, which could be extremely significant in a capital generation.

    The complementary nature of the businesses will allow Sundial to remain focused on their core operations while leveraging a strategic financial and operational partnership with SAF, which specializes in private equity and credit investment expertise on an international scale. Zach George, chief executive officer for Sundial, stated at the time. “We look forward to working together to generate attractive returns for our stakeholders through broader capital deployment opportunities in the global cannabis market.”

    Sundial’s brand portfolio which is inclusive of Top Leaf, Sundial Cannabis, Palmetto, and Grasslands focuses on consumer-oriented products and is trying immensely to further diversify its product line generate attractive returns for our stakeholders through broader capital deployment.

    Conclusion

    Sundial growers offered a better-than-expected outlook for the current quarter and anticipate sales and profits to grow for the full year after a joint venture with SAF opportunities. Furthermore, a larger distribution network and an increase in the cannabis retail market combined with a diversified product line has peaked investor interest in the company stock.

  • MicroVision Inc. (MVIS) stock surged in the after-hours session; here’s why

    In the after-hours trading session, MicroVision Inc. (MVIS) stock has surged by 9.19% to the price of $28.87 at the time of writing. MVIS previously gained 47.13% on the closing session at $26.44. The MVIS stock volume traded at 208.43 million shares. The average 3 months trade volume is 16.42 million shares. In the past 5 trading sessions, the stock had jumped by 151.81%. In the past 5 trading sessions, the stock had jumped by 151.81%. In the last three and six months, the MVIS stock has gained 264.69% and 1010.92% respectively. MicroVision Inc. is currently valued in the market at $3.05 billion and has 148.24 million outstanding shares.

    Tell me about MicroVision Inc.

    MicroVision Inc. is an electronics company that specifically focuses on the development of scanning technology. The scanning technology operations involve creating a projection of a high-resolution miniature as well as 3D sensing and image capture solutions. MicroVision utilizes these scanning technology solutions to create augmented/mixed reality for consumer electronics. The primary clients of MicroVision to whom it sells its PicoP and LiDAR technology-based systems, are original equipment and design manufacturers.

    The PicoP has been branded the name for MicroVision’s scanning technology and consists of diodes, opto-mechanics, electronics, and micro-electrical mechanical systems while the 3D LiDAR (3D Light Detection and Ranging) sensing system is used for active collision avoidance system.

    What is making the MVIS stock surge?

    On 22nd April 2021 at 5:00 pm, MicroVision Inc. made an announcement stating that it will release the report of its 1st quarter results for the year 2021, two days from now on 29th April 2021 at the market close.  However what is interesting about the news related to MVIS stock is that it was released at 5 pm, however, the MVIS stock rallied more than 15% to $14.10 at around 9 am EDT and dropped down afterwards to $12.89 at around 11:30 am EDT. This happened before the news release and currently, the stock is riding a bull wave.

    This sudden surge was associated to the mentioning of the MVIS stock in the Reddit-based forum infamously known as WallStreetBets, the forum of Redditor retail investors that surged up the GameStop stock and other undervalued stocks which were short-squeezed. The Redditors are investing into the stock and letting it climb a bull ladder in order to force the short-squeezers to buy back the stock. This buying back of the stock is causing the price of MVIS shares to shoot through the roof.

    What to make of the Redditor-fueled surge in stock price?

    However, if you are a seasoned investor who has been keeping an eye on the Redditor-based stock price surges like GameStop, it’s that they boost the stock exceedingly and do not match the financial metrics or near-term growth prospects. Which is why the surges are short-lived and ultimately return to pre-surge price or the stock is poised to become bearish. Day traders still ride the wave because they have impeccable timing for buying and selling the stock.