STOCKS TELEGRAPH

Author: ST Staff

Leaf Group Ltd. (LEAF) stock soared in the recent trading session: here’s why

Leaf Group Ltd. (LEAF) stock recently traded at $8.54 which is a 21.19% upward movement. The LEAF stock previously closed at 7.03$.

This recent positive movement in the LEAF stock was due to the announcement by the Leaf Group Ltd. about its acquisition by the Graham Holdings Company (GHC).

LEAF Stock’s operational background

Leaf Group Ltd. is a consumer internet company that focuses on building allows creators to build an enduring brand and help target the right market for the brand. This allows for the people passionate about such particular to create a community and grow into a lifestyle change. LEAF has diversified its portfolio of digital marketing by incorporation of vide range of companies from fitness and wellness to home, design, and art. Most notable companies for which LEAF has provided services are Well+Good, MyPlate App, Saatchi Art, Society6, and Hunker.

Grahams Holdings Company’s operational background

Grahams Holdings Company (NYSE: GHC) is a holding company that has diversified segments of operations including educational services, digital and local news, tailored- Manufacturing, automotive, television broadcasting, service leaders, and home health.

GHC acquires Leaf Group for all-cash premium valued at $323 million

The definitive agreement between LEAF stock and Graham Holdings will allow the latter to acquire all of the outstanding shares of the common stock of Leaf.

These LEAF stock are valued at $8.50 per share and the agreement includes an all-cash transaction of the common stock at the given price, valuing the total at $323 million.

The Leaf Group of Directors received a written proposal from Graham Holdings which discussed the acquisition of the Leaf Group for $8.50 per share in cash. The Leaf Group of directors did not directly accept the offer. They decided to maximize the offer by contacting other strategic buyers and compared the interest offers then finally realized that the $8.50 per share in cash maximizes value for Leaf Group shareholders.

This price per share to be paid in the transaction now represents a premium of approximately 21% to the closing price of Leaf Group common stock on 1 April 2021 and a 35% premium to the 90-day volume weighted average trading price of $6.30 per share.

Future stance for Leaf Group’s current team

The CEO of Leaf group, Sean Moriarty has been anticipated to maintain their roles even after the merger and similarly the high executives will continue to stay in the company. The CEO of Graham’s Holdings Company, Timothy J. O’Shaughnessy, believes that maintaining the existing team of executives will maintain the strong momentum of the Company which it has generated since the past year and look forward to drive this momentum into more profitable growth.

April 5, 2021
Ocuphire Pharma Inc. (OCUP) stock soared in the recent trading session: here’s why
OcuphirePharma Inc. (OCUP) stock recently traded at $6.43 which is a 0.78% upward movement. The OCUP stock previously closed at $6.38.

The pattern of positive movement in recent trading session has been correlated with the news released on an analyst giving the OCUP stock a “Buy” after initiating coverage on it.

OccuphirePharma’s current pipeline projects

OccuphirePharma (OCUP) is a clinical-stage biopharmaceutical company which focuses on the specialization of developing and commercializing ophthalmic treatments for several eye disorders. OCUP is also publicly traded company. Its current pipeline consists of two-small molecule product that is acting as candidates targeting the eye indications.
- Nyxol Eye Drops is the lead product candidate which consists of 0.75% phentolamine ophthalmic solutions. Designed to reduce pupil size to tackle dim light and night vision disturbance along with several other indications.
- APX3330 is an oral tablet designed to inhibit the retinal inflammation pathway and choroidal vascular diseases.
Nyxol has passed the phase 3 trial in RM and is now in phase 3 trial for NVD’s clinical development. APX3330 is now in the phase 2 trial for clinical development of Diabetic Retinopathy (DR) and Diabetic Macular edema (DME).

Analyst rating for OCUP stock

Investors believe to be hyped about the recent developments in the Nyxol 0.75% which can target a large and significant market of unmet ophthalmic needs. This operational progress is also one of the reasons that Alliance Global Partners has initiated coverage on OcuphirePharma with Buy Rating. There are 2 more ratings on the firm lately. JoneTrading initiated coverage on OCUP stock in the previous month and has given a Buy rating as well. Cantor Fitzgerald has maintained its coverage and gives an overweight rating since March 2021.

OCUP has announced equity and options rewards for its employees

On 1^st April 2021, OcuphirePharma (OCUP) had announced the equity award approval under Ocuphire’s inducement plan as a material inducement to Erik Sims. This approval was done through the compensation committee of the Board of Directors in OCUP. The equity award was given to Erik Sims in regard to his role within the company as Controller of the Company. This award was made effective since the announcement date and under accordance with Nasdaq listing rule 5635(c)(4).

Occuphire has also given Options awards for the employees who just started working with the company. This option provided the opportunity to purchase an aggregate of 38,000 shares of the OCUP’s common stock. The option will have a 10 year term and a 4 year period vest. The vesting percentage every year will be divided to 25% each 12 months.

Future potential of OCUP stock

Overall all eyes of investors and stakeholders are on the operational progress; specifically for the clinical trial phase 3 of Nylox 0.75 to succeed. The commercial roll-out of Nylox would enter a million dollar market due to unmet needs. The analyst ratings give a boost to the stock’s performance and will attract further investors to invest in OCUP stock.
April 5, 2021
ZK International Group Inc. (ZKIN) stock surges in the current market trading. Let’s find out why?

ZK International Group Inc. (ZKIN) stock rises by 1.22% in the pre-market trading session after ZKIN announced that they have made a $50M series A funding round in CG Malta for the purpose of launching Maximbet.com. ZK International Group is a Chinese engineering firm that develops and invests in cutting-edge technology for today’s world. With an emphasis on manufacturing, environmental, and software engineering, they develop and implement next-generation solutions

What is happening?

ZK international announced that in order to launch MaximBet.com, ZKIN is thrilled to confirm that it has led a $50 million Series A funding round in CG Malta Holding Limited which is a fast-growing and privately-held multi-state and internationally licensed sports betting and casino operator. MaximBet is a strategic alliance between CGM and Maxim, a well-known media firm

Through two closings, ZKIN will invest $50 million in CGM. The first deal was made today, with the Corporation buying a 12 percent stake for $15,000,000. The second closing, expected in the second quarter, would result in the Company receiving an additional 13 percent of the $35,000,000 purchase price. ZKIN will own a total of 25% of MaximBet following the completion of the two closings.

MaximBet will consist of a market-leading sports betting and casino website, MaximBet.com, as well as custom-built native iOS and Android apps that will help consumers to bet money on sports and casino in the United States and around the world. Maxim’s interconnected network of print, multimedia, social, and experiential channels will be used to engage the loyal Maxim community as well as sports bettors worldwide.

Previously,

In the last month, ZKIN announced the establishment of xSigma Entertainment Limited which is its completely owned subsidiary, with the aim of acquiring online gaming assets to boost shareholder value by focusing on the rising online casino industry. ZKIN is excited to announce its first strategic investment in the US online gaming industry, which is with a globally known brand and a leading operator with years of experience.

April 5, 2021
Here’s why Cidara Therapeutics Inc. (CDTX) stock is rising in the current market trading?

Cidara Therapeutics Inc. (CDTX) stock surges by 4.89% in the current market trading session after CDTX stock announced that they have signed an agreement with Janssen Pharmaceuticals. Cidara is producing long-acting therapeutics that could revolutionize the treatment of patients with severe fungal or viral infections.

Agreement between CDTX and Janssen Pharmaceuticals

CDTX confirmed today that it has signed an exclusive international license and partnership agreement with Janssen Pharmaceuticals which is one of Janssen Pharmaceutical Companies of Johnson and Johnson with the goal, to produce, market and sell Cidara’s Cloudbreak antiviral conjugates (AVCs) for seasonal and pandemic influenza prevention and cure. The agreement has been facilitated by Johnson & Johnson innovation.

CDTX stock will be in charge of getting the first influenza AVC, CD388, into the clinic and through Phase 2 clinical development, while Janssen will be responsible of late-stage development, production, registration, and global commercialization under the agreement. Following this agreement CDRA is bound to get a payment of $27 million whereas Janssen will monetarily support all the upcoming research, development, making, and marketing for CD388. Also apart from the payment, CDTX will also receive an amount of $753 million approx., in budgeted R&D funding and in development, regulatory and commercial milestones, plus tiered royalties on worldwide sales in the mid to high single digits.

Efficacy of CD-388

CD388 is a long-acting antiviral immunotherapy that is intended to provide year-round protection against influenza. CD388 the newly launched drug of CDTX has the power to provide protection to people from all influenza strains, including seasonal and pandemic influenza A, influenza B, and large clinically characterized drug resistant influenza strains, by attacking a highly conserved area on the influenza virus. The agreement’s usefulness is contingent on all applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act expiring or being terminated sooner.

April 5, 2021
Why Teligent, Inc. (TLGT) stock is falling today?
Shares of Teligent, Inc. (TLGT) stock were down today after rising 12.52% in the last trading session. TLGT stock price saw a downtrend of 4.27% to drop at $0.6725 a share at the time of this writing. Let’s deep dive to understand the reason behind this fall.

What’s happening?

Teligent, Inc. is a pharmaceutical company working on the development, manufacturing, marketing, and selling of a variety of pharmaceutical products in the United States and Canada. There is no Teligent specific news to explain the reason behind this fall today. Even we find no news, earnings report, analyst downgrades, or shrank targeted per share price in the whole of March to connect with this fall. This is spreading curiosity among investors who are eager to hear some specific related to TLGT stock. So, it is better to look at some previous recent events of Teligent.

February 2021 Events:

Teligent, in February 2021, announced the new appointments in a couple of its management positions. On February 23, 2021, TLGT appointed Carter Pate to its Board of Directors. Mr. Pate is serving on the Board of Directors at various other companies and currently holding the responsibilities of Audit and Nominating and Corporate Governance Committees in Teligent.

On February 16, 2021, William S. Marth, an industry expert, joined Teligent as a member of its Board of Directors. Mr. Marth has experience of 25 years in the pharmaceutical companies as well as manufacturing industries.

Financial View of TLGT stock:
- According to the third-quarter results, TLGT stock generated 14.3 million revenue which was 6% higher than the previous quarter due to the high demand for topical products in the U.S.Gross profit of TLGT stock reduced to $0.1 million from $2.4 million in the second quarter of 2020 due to additional expenses related to inventory reserves and other write-offs.
- Product development and research expenses surged to $2.4 million while selling, general and administrative expenses were $6.5 million in the third quarter of 2020.
- Operating losses in the third quarter were $8.8 million while the $0.5 million net loss is observed in the third quarter of 2020.
Conclusion:

Things are going against the TLGT stock as far as market sentiment is concerned. It seems that momentum was built in the previous trading session but such rises don’t last for a long time.COVID-19 was a major challenge in the continuity of Telligent’s operations, but the management has performed well over the past year. In a nutshell, it would be better for investors to analyze the nitty-gritty of the TLGT stock before taking any decision.
April 5, 2021
Acadia Pharmaceuticals Inc. (ACAD) stock declines in the pre market trading. Let’s find out why?

Acadia Pharmaceuticals Inc. (ACAD) stock declined by 14.42% in the pre market trading session after Acadia Pharmaceuticals has received a response letter from FDA for its supplement new drug application (sNDA). Acadia is breaking new ground in neuroscience to improve people’s lives. ACAD has been at the forefront of healthcare for over 25 years, bringing critical ideas to those who need them most. We developed and marketed the first and only FDA-approved treatment for hallucinations and delusions associated with psychosis caused by Parkinson’s disease.

What is happening?

The U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter to Acadia Pharmaceuticals addressing its supplementary New Drug Application (sNDA) for NUPLAZID, which is used to treat hallucinations and delusions associated with dementia-related psychosis. In their response, FDA mentioned that they had finished reviewing the application and sent a CRL, while concluded that it could not be accepted in its current state.

According to the previous agreements with the Division of Psychiatry regarding the pivotal Phase 3 HARMONY study design, which sought to examine a large DRP patient population as a single group, the Division identified a lack of statistical significance in some dementia subgroups and inadequate numbers of patients with some less common dementia subtypes as lack of significant evidence of efficacy in order to support the approval.

The pivotal HARMONY trial for the DRP reached its preset primary and secondary endpoints, demonstrating pimavanserin’s clinical and statistical superiority over placebo, which was a prerequisite for the DRP indication. The predefined criteria did not include statistical separation by dementia subgroups or a minimum number of patients with distinct subtypes.

Conclusion

With ACAD’s new drug application sNDA not getting approved, it is quite possible that the stock price has declined following this disapproval. Although ACAD is working to find its way out with the cooperation of FDA to get the approval but for now it has become a matter of disinterest for investors and therefore they are not making any bets in ACAD stock.

April 5, 2021
Why shares of Nano-X Imaging Ltd. (NNOX) surged in premarket?

Nano-X Imaging Ltd. (NNOX) stock soared 62.93% at $67.34 in premarket trading hours on the last check Thursday. The stock of NNOX lost -0.29% to complete the last trading session at $41.33.

Nano-X Imaging Ltd ‎(NNOX), an innovative medical imaging technology company which aims for mass deployment of cost reduced imaging systems, notified that its single-source Nanox. ARC digital x-ray technology has been given 510(k) Approval from the FDA, after which NNOX stock surged substantially. NANO-X is also expected to put forward another application for its multi-source Nanox Arcand the NanoxCloud, this year. If approved, the multisource NanoX ARC will be commercialized and sold globally.

“Obtaining 510(k) clearance from the FDA for our single-source Nanox.ARC digital x-ray is a significant step forward along our US regulatory pathway,” Concluded Ran Poliakine, CEO Nanox.

NNOX Distinctive Competency Over Its Peers

NNOX, founded by Ran Poliakine, is an Israel based corporation manufacturing a commercial-grade digital X-ray source which will be immensely significant for improved affordable medical imaging.

Nanoxplans for its unique technology to decrease the costs of medical imaging systems and aims for partnerships with several healthcare organizations for low cost, and an early detection medical imaging service. NNOX stock has aimed to finalize a minimum distribution of 15,000 Nanox ARC systems by the end of 2024.

Conclusion

NANO-X imaging has invested in a very lucrative market of Medical imaging especially amongst the time of a pandemic. NNOX stock has pioneered affordable quality medical imaging and approval by FDA may prove to be extremely significant in further diversifying their income stream and providing income stability as well as a financial surplus, with the company keen on producing results.

April 5, 2021
Emergent BioSolutions Inc. (EBS) Stock is plemmeting, Here is What You Need to Know

Emergent BioSolutions (EBS) provides specialty products and is a life sciences company that specializes in addressing health threats related to the general public. EBS stock has completed a deal of a $23 million contract modification from Biomedical Advanced Research and Development Authority (BARDA) ramping up their vaccine production significantly. The FDA approved company is also producing an adequate number of vaccines in accordance to its production contracts and aims to use the $23 million to buy production machinery solely for the purpose of manufacturing Johnson & Johnson’s COVID-19 vaccine.

Emergent is expected to reduce the production of AstraZeneca’s COVID-19 vaccine bulk drug substance. This reduction took place after due considerations and a mutual agreement from the US government and AstraZeneca

Can Emergent BioSolutions Recover, After EBS Stock Price Crashed Due To Loss In Johnson and Johnson Vaccines.

Emergent BioSolutions (EBS) stock declined over 13% following news that approximately 15 million Johnson and Johnson vaccines were disposed as one batch of vaccine produced at the EBS facility, was not up to quality standards. Emergent BioSolutions reported in a statement that the low quality batch was isolated and adequately tossed off keeping in view medicinal disposal regulations. However, the state is stagnant on the fact that the blunder will not affect current Covid 19 appointments.

The Food and Drug Administration (FDA) has approved the Johnson and Johnson vaccines to fight covid-19 with Moderna and Pfizer being its sole competitors, however, Johnson & Johnson having a competitive advantage as the only vaccine available in the market being of a single dose.

Conclusion

Presently, EBS stock has established various partnerships and strategic relationships with the U.S. government, pharmaceutical and biotech companies as well as NGO’s. Having penetrated in the vaccine market amidst a pandemic has proven significant in increasing the company’s valuation, however safety concerns about their vaccine quality has plummeted EBS stock with disposal of 15M vaccines.

April 5, 2021
GameStop Corp. (GME) stock tumbles in Pre-Market today: Why did It happen?

Shares of GameStop Corp. (GME), a leading gaming and entertainment platform, were tumbling in today’s pre-market trading session after the announcement of an equity offering by GME stock. GME price saw a downtrend of 13.03% to drop at $166.50 a share as of this writing. GME was green in the previous trading session and closed with a 0.86% gain with $191.45 per share price. GME also announced the Preliminary sales results of the first nine weeks of 2021 today. Let’s have a deep look at current scenarios.

Equity Offering Plan:

GME today on 5th April 2020 filed the prospectus supplement with U.S. Securities and Exchange Commission according to which GME stock would be able to sell a total of 3.5 million shares of its common stock from time to time via “at-the-market” equity offering program. The main purpose of this offering is to strengthen the balance sheet of GameStop by accelerating the process of its transformation and other general corporate purposes. GME would be offered by Jefferies LLC and its Sales price is subjective to the prevailing sale price in the market.

Sales Performance of First Nine Weeks by GME stock

The First nine-week period ends on April 4, 2021, and in this period, GME recorded an 11% increase in its global sales while as of February 27, 2021, these global sales were 5.3% high as compared to the four-week period of 2020 ended on February 29.18% increase in the global sales was observed in the last five weeks ended on April 4, 2021, as compared to the same period in the previous year.

The restrictions imposed by the government due to COVID-19 have negatively impacted the GME in its operations across 14 countries. 13 % decrease in the store base in the Nine-week period of 2021 due to store optimization effort by GameStop mainly owes to these COVID-19 restrictions.

Conclusion:

Despite an increase in the global sales of GME stock in the latest nine-week period, GME stock is falling in response to the announcement of an equity offering program by GameStop. The previous record shows that GME stock soared over 1000% in the past three months. Hence GME stock can be a good bet in the long run but short-term investors need to do a lot of research before taking any decision.

April 5, 2021
FG Financial Group, Inc. (FGF) stock is rising in Pre-market: Why is it so?

Shares of FG Financial Group, Inc. (FGF) stock were continuing the uptrend in Monday’s pre-market trading session after gaining 4.09% at the last closing. FGF stock price saw an uptrend of 14.67% to reach $6.01 a share at the time of this writing. But what made the FGF stock high? Let’s understand more of it.

What’s happening?

Although the FGF stock is a hot topic among investors, we find no specific reason to justify this rise. There is no particular activity by the FG Financial Group, no earnings report today as it was released almost two weeks ago, no analyst upgrades or upswing target per share price of FGF stock to explain the reason behind this rally. Sometimes social media hype becomes the driving force behind the rising stock price, but this case also doesn’t support this fact. So, what you need to know in this situation? Let’s look at some recent events of the FGF stock.

Financial Results of 2020:

On March 18, 2021, FG Financial Group released Financial 2020 results according to which net loss of FGF stock attributed to its common shareholders was $23.9 million while General and administrative expenses were $6 million in 2020. Non-cash losses related to change in fair value of the FG Financial Group’s investment of $16.2 million in the common stock of FedNat Holding mainly attributed to a net loss of FGF stock in addition to the loss of $2.1 million which was due to the transfer of 330,231 FNHC shares in connection to Share Repurchase and Cooperation Agreement with Hale Partnership Capital Management, LLC.

At the end of the year 2020, Financial Group had cash and cash equivalents of $12.1 million and the value of equity securities was down to $8.5 million as compared to $9.1 million at the end of 2019.

About FG Financial Group:

FG Financial Group, Inc is currently operating as the reinsurance and investment management holding company in the U.S.Besides specialty property and casualty products, FGF also the provider of services related to strategies, administration, and support.FG Financial Group was founded in 2012 and its headquarters is in St. Petersburg, Florida.

Conclusion:

FGF stock is continuing the rising trend so far despite the absence of any FGF news. Such rise usually doesn’t remain for long, but we can’t deny the fact that the stock market is unpredictable, and no one can predict the exact outcome. Such things affect the short-term investors but investors having long-term effects usually focus on the company fundamentals, strategies, and long-term growth.

April 5, 2021