STOCKS TELEGRAPH

Author: ST Staff

  • The Can Fite Biopharma Inc. (NASDAQ: CANF) stock rises 78%. Here’s what’s happening

    Can Fite Biopharma Inc. (NASDAQ: CANF) stock showed a 3.03% gain during the last trading close while the stock is showing a hike of 77.94% in the pre-market after CANF today signs $42.7 million out-licensing deal with Ewopharma which is a pharmaceutical marketing organization that helps pharma companies to access markets in CEE and Switzerland? Can-Fite is a drug development company of advanced clinical stage with a platform technology that is designed to direct multibillion-dollar markets in the treatment of cancer, liver, inflammatory disease, and COVID-19.

    What the deal is all about?

    CANF has signed a very significant agreement with Ewopharma which is a Switzerland based company mainly for its two important drugs that are Piclidenoson for the treatment of psoriasis and Namodenoson for the treatment of liver diseases such as carcinoma (HCC) the most common form of liver cancer and nonalcoholic steatohepatitis (NASH). The terms and conditions under which the agreement has been signed are as follows:

    • Ewopharma will have to pay $2.25 million to Can-Fite with an additional $40.45 million upon achieving the set regulatory and sale goals. Ewopharma will also pay 17.5% royalties on net sales.
    • In return, Ewopharma will get an exclusive right to market and sell Piclidenoson in Central Eastern European (CEE) countries and Namodenoson in CEE countries and Switzerland.
    • Ewopharma is also authorized to broaden the distribution agreement to new indications that Can-Fite may identify for its drug candidates.

    Future Benefits

    The VP Business Development of Can-Fite said that CANF is foreseeing an amazing outcome through this agreement with Ewopharma. The deal will bring Can-Fite non-dilutive funding, and after getting regulatory approval, it will give their products the immediate access and distribution in the European market.

    While for Ewopharma it will complement and bring a change in their portfolio in gastroenterology, oncology, and immunology and ensuring Ewopharma’s long-standing commitment to its entire region.

  • Sypris Solutions, Inc. (SYPR) is soaring in Pre-Market trading? What’s Going On?

    Sypris Solutions, Inc. (SYPR) is soaring in Pre-Market trading? What’s Going On?

    Shares of Sypris Solutions, Inc. (SYPR) were soaring in Tuesday’s pre-market trading. SYPR stock price saw a jump of 70.67% to reach $6.40 a share at the time of this writing.SYPR was up by 6.23% at the previous closing.It seems that climbing stock price has nothing to do with any news.

    What’s happening?

    There is no news, no press release by Sypris Solutions, no analysts upgrades or upswing targeted per share price that would explain the rally. However, SYPR announced in the last week that it will report its fourth-quarter financial results of 2020 on March 18, 2021, via real-time webcast and rebroadcast of its conference call.

    SYPR announced on February 24, 2021, that it has won a defense contract award from the U.S DoD contractor. Sypris Electronics, LLC, a subsidiary of Sypris Solutions, will now work on the manufacturing and testing of electric supply modules for the anti-ship missile system. The contract is mainly intended to meet the needs of U.S Navy and Air Force warfighters. The missile system is equipped with advanced technologies and functional in both day and night, all weather conditions, and can destroy specific targets with less dependency on intelligence, surveillance, and GPS navigation.

    At the beginning of the second week of February 2021, SYPR received orders for its Tube Turns® D-bolt, and Tool-less® specialty closures from two high-pressure energy projects. One project is anchor Field development in the Gulf of Mexico and the other is the gas pipeline upgradation in North America.

    In the third quarter of 2020, SYPR’s gross profit increased by 47.1% quarter over quarter and the gross margin was 490 points higher than the previous year. Earning per share was $0.17 in the third quarter of 2020 as compared to a loss of $0.07 per share of the previous year. Sypris Electronics revenue for the third quarter increased by 52.6% as compared to the same period of the prior year.

    Conclusion

    SYPR stock has captivated the investors despite the absence of any specific news today. Management of Sypris Solutions is well focused on the scaling of its products.SYPRhas won defense contract awards and high-pressure energy projects which shows the likely growth of SYPR stock in the future.

  • The Sundial Growers Inc. (NASDAQ: SNDL) stock is rising during pre-market. Let’s find out why?

    Sundial Growers Inc. (NASDAQ: SNDL) stock showed a gain of 14.08% during the last trading close whereas the stock showed an upsurge of 11.73% in the pre-market after the company announced its 50/50 joint venture with SAF group. SNDL is the licensed producer with which it crafts cannabis through state-of-the-art indoor facilities. Sundial Growers craft-at-scale modular growing approach, award-winning genetics, and experienced master growers make them exceptional.

    What is happening?

    In this joint venture between Sundial Growers and SAF group, the companies will work together to build SunStream Bancorp. The focus is on making debt and equity investments in Canada and international markets related to cannabis. According to the agreement between the companies, Sundial and SAF group will own half of SunStream each.

    Regarding SunStream it is believed that it will open ways to make special opportunities fund in which contributions from third-party investors will be accepted along with $100 million in initial funding from Sundial. SunStream also plans to create a Canadian special purpose acquisition company (SPAC) in the future.

    The CEO of Sundial in a press release said after the success of their internal capital investment program, this joint venture is a great initiative for the company which will bring success and will also enable us to fulfill our commitments to shareholders. Also, SunStream will help Sundial to remain focused on their core operations while utilizing the power of SAF’s equity and credit investment expertise on an international level.

    Now what?

    Sundial has managed to gather hundreds of millions of dollars in recent months through a series of share and warrant offerings. Although these stock sales have shareholders’ ownership stakes but at the same time it has given a lot of cash to cannabis producer to invest.

    Finally, the ability to generate strong terms on its shareholders capital will determine the long-term performance and efficiency of Sundial stock.

  • A 308% Increase In UA Multimedia (UAMM) Stock On Monday: What Could It Be?

    A 308% Increase In UA Multimedia (UAMM) Stock On Monday: What Could It Be?

    UA Multimedia Inc (OTC: UAMM) ended the last trading session higher by 308.71% to $0.1267. During the trading session, the UAMM stock ranged in price from $0.0417 to $0.1340, while 174.47M shares were exchanged. Yesterday, UA Multimedia released an update which led to the rise in the price of its shares.

    What was the update?

    With expertise as a solution provider of blockchain, cryptocurrency, fintech, UA Multimedia also specializes in decentralized finance (DeFi). Moreover, UAMM is a holding company that seeks to acquire domestic and foreign competitors in the same category.

    UA Multimedia yesterday provided corporate updates and announced it’s near term cryptocurrency business plan.

    • Since the market has been unfriendly for cannabis businesses in recent years, UAMM shifted its focus to blockchain technology by the end of 2019 and made it a priority to move forward.
    • UA Multimedia’s operation had been minimal until late last year due to the disruption caused by the COVID-19 pandemic in early 2020.
    • Management has brought the UA Multimedia current with OTC Markets and filed all late periodic reports to be ready for organic and external growth through mergers and acquisitions.
    • Additionally, UAMM has acquired and canceled 70M of its restricted shares, which reduced outstanding stock to 305.6M, reducing its total outstanding shares by 19%.
    • It has been experiencing healthy growth since Q4 of 2020 in the cryptocurrency segment.
    • In the near future, it is expected that transactions related to Bitcoin will continue to be steady.
    • A small crypto exchange, run by a private company, is being acquired by the UAMM for a controlling interest.
    • UA Multimedia hopes to fulfill all requirements and attain OTCQB listing as soon as practicable, among other corporate updates to be announced.
    • In terms of technology, UA Multimedia offers comprehensive blockchain development services connected to token creation, smart contracts, fintech, decentralized finance (DeFi), and blockchain consultancy services.
    • UAMM will be using the ERC-20 standard to create fungible tokens on the Ethereum blockchain, and the ERC-721 and ERC-1155 standard for nonfungible tokens.
    • On the corporate front, the UA Multimedia (UAMM) provides assistance with planning, listing, and marketing of token.
    • Whenever token sales occur, they are subject to the applicable regional’s mandatory regulations.

  • Will GeoVax Labs Inc. (GOVX) bean ideal investment for long-term investors?

    On 10th March 2021, GeoVax Labs Inc. (GOVX) got invited to present at the Maxim Group’s Inaugural Emerging Growth Virtual Conference that is to be held on 17th-18th March 2021. The company will present its recent developments in vaccine research and GeoVax’s immunotherapy. The next day, GeoVax’s stock went up by 15.38% to close at $5.55.

    GeoVax Labs, Inc.

    GeoVax is a biotech company whose primary goal is to develop effective and safe vaccines and immunotherapies against various infectious diseases such as Ebola and Zika Virus, and cancers. The company was established primarily to develop a vaccine for curing HIV-1. Still, eventually, the company moved on to create vaccines for various human severe diseases for which there does not exist a cure.  According to GeoVax, the vaccines they make are developed on a sturdy, safe, suitable for repeated use and affordable for both routine vaccination and in case of an epidemic. GeoVax’s HIV program is now successfully advancing towards multiple human clinical trials, and its other programs are at different stages of pre-clinical testing.

    GeoVax’s fight against the Epidemic

    On 11th January 2021, GeoVax Labs In. announced that a part of the National Institutes of Health (NIH), National Institute of Allergy and Infectious Diseases (NIAID), has awarded them the grant to develop a vaccine to help fight against the worldwide pandemic, COVID-19. GeoVax is currently working on developing a vaccine that will help provide a prolonged protective immunity against the COVID-19 and avoid the potential side effects of the vaccine. Later on 10th March 2021, GeoVax Labs Inc. (GOVX) got invited to present at the Maxim Group’s Inaugural Emerging Growth Virtual Conference that is to be held on 17th-18th March 2021. During the virtual conference, the chairman and CEO of GeoVax Labs Inc., David Dodd, will overview their progress in vaccine research and immunotherapy, emphasisingGeoVax’s COVID-19 vaccine program and cancer immunotherapy programs. Mark Newman, Ph.D., the company’s ChiefScientific Officer, will also be a part of the panel discussion regarding its programs’ developments. Investors have the option of attending the virtual conference by registering and can also request to arrange a one-to-one meeting with the company’s CEO after the panel concludes.

    All things considered

    In the light of the given information, investors reacted positively to the news of GeoVax presenting at the virtual conference and the fact that they will be allowed to attend the meeting and have a one-to-one discussion with Mr. Dodd after the session has concluded.

  • Why the stock of Enveric Biosciences Inc. (NASDAQ: ENVB) is on the rise today?

    Why the stock of Enveric Biosciences Inc. (NASDAQ: ENVB) is on the rise today?

    Enveric Biosciences Inc. (NASDAQ: ENVB) showed a hike in its stock after the company has acquired a permanent license from Diverse biotech for Novel Molecules. It is the patient’s first biotechnology company that focuses on developing new molecules in order to treat oncology and debilitating diseases and highly tested novel cannabinoid medicines to better the quality of life for cancer patients.

    Recent Development

    The company’s main focus and goal is to help the people who are suffering from cancer by developing new drugs that possess no side effects on the patients. Enveric aims to broaden its pipeline of development candidates that aim to deliver superior therapeutic outcomes for patients by conjugating cannabidiol (CBD) with current, standard-of-care drugs using Diverse Biotech’s proprietary, advanced chemistry drug delivery platform.

    The CEO of Diverse Biotech said that this licensing agreement with Enveric is determined to broaden their CBD conjugate platform into supportive care indications for oncology for the first time ever. The CEO showed his interest and confidence in this agreement to provide better and more efficient therapies for the medical issues which are unrecognized among the large patient population.

    Also following this agreement Enveric will add to the list of target indications of the company through obtaining five molecules, out of which four will be for dermatology purpose and one will focus on pain relief. Alongside this, the agreement will provide access to the company to the scientists and formulators of Diverse Biotech who will help them in synthesizing and validating the drugs while the company runs through pre-clinical and clinical activities. 

    Conclusion

    Enveric Biosciences has a clear goal of facilitating patients suffering from cancer, supportive care needs with their already existing innovative early-stage formulations, and their progress towards their aim is highly appreciable as well as it will gain them the interest of investors.

  • Is SOS Limited’s (SOS) recent Bitcoin mining spree authentic?

    Is SOS Limited’s (SOS) recent Bitcoin mining spree authentic?

    SOS Limited (NYSE:SOS) stock price grew by 5.27% with the current price being at $5.78. The company is offering more of its stock as warrants. These warrants come in the shape of American Depositary Receipts (ARDs) are the ones available for trading in the US, and investors recently came under the pressure of selling these ADRs for $4.05 each and acquired 23.88 million. This had allowed SOS to gain $96.7 million in proceeds.

    The company went further on to give more additional warrants for 23.88 million more ADRs for $7 per ADR. This would have caused investors shares to dilute and now that the market force is generally pressured towards selling stocks, the investors are selling their new ADRs as well.

    From Insurance company to crypto-mining company to shell-company allegations


    In August 2020, the SOS company acquired its insurance brokerage qualifications in China and also acquired 100% equity interests of Inner Mognolia Post Insurance Agency Co. The now-known Mongolia SOS Insurance Agency Co. Ltd. (Inner Mognolia SOS) can conduct sale of insurance products and collect insurance premium.

    Then on January 2021, The Company announced its crypto mining plans for investing heavily into acquiring mining machines and benefitting from growing investor’s interest in crypto assets. The crypto mining operations are handled by SOS Information Technology (SOS) which is a subsidiary of SOS Limited. Earlier in February the Company announced acquisition of 5000 crypto mining machines while almost 2 weeks ago it announced the launching of cloud crypto center established in Hejian County.

    However, as much of a hype and rally these crypto-aspirated news carried, they were criticized heavily by investigative research firms like Hindenburg and Culper Research for their authenticity.

    Fake pictures of SOS Ltd’s mining operations

    News about the company’s mining activities have started to question company’s authenticity.The tide of selling-off can most probably be set in motion by the increased amount of claims of fraudulent activity by investment research firms like Hindenburg Research and Culper Research. After which now follows an investigation into these claims by shareholder attorneys Hagens Berman.

    SOS limited fought back by issuing a statement on its website regarding these claims being false accusations only to be made for the economic benefit of the short sellers. However investigative research had led to finding out that the company had posted several fake and dummy photos as well as inaccurate press releases which called out to be misrepresenting and bogus.

    Photos posted by SOS Ltd claiming to be pictures of recently acquired A10 Pros were actually identified by the Culper Researchers to be Avalon’s 1066 miners. In fact, the photos belonged to SOS Ltd’s rival RHY’s company photos published on their website. Even the address given on the company’s website for its headquarters was found out by Hidenburg research to be location of a three-star hotel instead.

    SOS Ltd needs to defend itself from these claims

    The Hidenburg Research and Culper Research claim that SOS is an elaborate “pump and dump” scheme that claimed to have bought 15,000 mining rigs on 21 January only to give doctored photos of the crypto miners. The Hagens Berman partner, Reed Kathrein is heading the investigation for what she states to be “false promotion scheme”. The SOS ADRs have dramatically fallen. Investors now most obviously fear the risk of investing in SOS stock. Many investors are of the view that SOS Ltd should respond to these allegations which has been floating around for a week, if not then many will pull-out of the stock due to fear of these allegations and investigations.

  • Exela Technologies, Inc. (XELA) shares rallied 127.27% in the current market after the new venture announcement

    Exela Technologies, Inc. (XELA) shares rallied 127.27% in the current market after the new venture announcement

    Exela Technologies, Inc. (XELA) today  March 9, 2021, announced a $90 million project for the next 10 years which compromises blending automation technologies, SaaS, and services through its PCH Global platform. The XELA launched its PCH platform in September 2020. The new venture will boost the digital transformation process for the major US health insurance company and is a part of the strategic relationship which included over $28 million in revenue in 2020.

    The above-mentioned project is new in the healthcare industry and for Exela too. Exela will deploy its digital platform PCH Global, on the sites and in the cloud to fulfil healthcare needs. The project involves the complete processing of complex health insurance claims and it will also provide the multi-channel correspondence between the insurance company and their provider and member networks. The new PCH Global platform will also power the integrated data fabric used for discovering patterns, health platform monitoring and also use analytical data for the launch of new services for Exela’s customers.

    Exela planning is to move the existing and future healthcare customers to PCH Global’s cloud network so that customers and health insurance companies can get more scalability and business protection. Exela has a huge setup of data scientists with extreme data processing capabilities which are powered by neural networks.

    Exela’s President, Suresh Yannamani said that the combination of our technology with global service delivery and industry expertise makes us a leader in enrollments, complex claims processing, appeals and grievance management and payment solutions. He further said that their PCH Global system is a complete payment integrity solution for the insurance industry and it is capable of handling everything from claims ingestion and validation, to correspondence, adjudication and payments

    The stock price for Exela Technologies

    In the pre-current session on Tuesday, March 9, Xela stock is going up and it is up by 127.27% as I am writing. Yesterday, on March 8, the stock price was also increased ant it closed at $1.65. the recent news took the stock price up in the pre-market session.

  • Why Sight Medical Inc. (EYES) stock is soaring high?

    Why Sight Medical Inc. (EYES) stock is soaring high?

    Stock of Second Sight Medical Inc. (NASDAQ: EYES) is soaring high since the company has got approval from US Food and Drug Administration FDA for Argus 2s Retinal Prosthesis System which is being developed to treat Retinitis Pigmentosa (RP).  The company is known for manufacturing and marketing implantable visual prosthetics for blind individuals to give them an artificial vision. The company has dedicated its services towards developing efficient technologies for sight impaired individuals.

    Recent Developments

    The Argus 2s Retinal Prosthesis system is an improvised version of external hardware used alongside its Argus II implant. The system basically has a pair of glasses and a camera that functions to provide vision to the people diagnosed with retinitis pigmentosa (RP). In company’s future plans they are hoping to use the Argus 2s Retinal Prosthesis System in the next generation of Orion Visual Cortical Prosthesis System which is an under development system for the treatment of RP. 

    The company claims that this new system for the treatment of RP has many different and improved specifications compared to its predecessor which includes

    • Improved ergonomics
    • Powerful processing power, which means that video processing will get better.

    To better understand the reliability of this system, we should know that how it works. Argus 2s provides electrical stimulation that bypass the deteriorating retinal cells and further stimulate the viable cells which are left, including visual perception in individuals with chronic or mild cases of RP.

    EYES stock surpassed every other company and became the most traded stock after the FDA approval. The trading volume increased to 222.6 shares compared to an average of 26.5 million shares in a day. Furthermore, the CEO of the company said that they are humbled to receive this approval since this opportunity will play a vital role in enhancing company’s efforts towards facilitating those with no vision.

    Conclusion

    This system introduced by the company will definitely call the interest of investors towards it. The efficiency of the system will give a boost to the company’s stock and will help them to develop a more modified version.

  • Top 3 Work-From-Home Stocks in 2021

    Top 3 Work-From-Home Stocks in 2021

    A little over a year ago, people were not even familiar with the term ‘work from home’ and now, because of this worldwide pandemic, almost everyone has worked from home one way or the other. The COVID-19 pandemic proved to be catastrophic for many companies but it also opened up many opportunities for companies as well as investors. With the introduction of work from home, this pandemic has changed the business model of many companies. Many big corporations such as Google and Facebook have even adopted this work from home for long term. This shift towards working online has created demand for digital platforms that are designed to help meet the requirements of working from home. A survey conducted by research and advisory firm Gartner showed that almost 80% company leaders are planning on allowing employees to work from home part time and 47% are planning to allow their employees to work from home full time. In another survey conducted by PwC of 669 CEOs, almost 78% agreed that work from home will be implemented in the long run. Since office based work is substituted by work from home, we’ll be looking at some of the best work from home stocks in 2021. Here are top 3 work from home stocks for 2021:

    Zoom Video Communications, Inc. (ZM)

    Zoom has witnessed an immense increase in its demand amidst this global pandemic. Zoom’s model has helped businesses all over the world because of its remote working model. The company currently carries Zacks rank #3 (Hold). In February 2020, Zoom’s stock was valued at $87.66 and as of yesterday it closed at an astonishing $337.43. This accounts to an increment of almost 285% in little over a year. Every day, almost 200 million people login to Zoom, compared to 10 million users just before the pandemic. In the US, Zoom is the most used conferencing application and has 43% market share. The fundamentals of this company looks promising, and investors should surely keep their eyes on this stock’s movements.

    DocuSign Inc. (DOCU)

    DocuSign is an organization that provides e-signature solutions and allows companies to manage agreements online. DocuSign has benefited many organizations that transferred to work from home amidst the global pandemic. Since many companies have shifted their business model online, this e-signature solution is to benefit them in long term. Organizations such as Oracle and Microsoft have integrated themselves with DocuSign which will further help them grow their customer base. The company carries a Zacks Rank #3 (hold). To date, the company’s shares have soared up to 143% in a year. In March 2020 the stock price was $84.02 and it has increased to $204.31 as of 5th March 2021. According to Zacks Consensus Estimate for fiscal year 2022, the earnings has estimated to be moved up by 28.2% to $1.09 per share over the same time frame.

    Dropbox (DBX)

    Dropbox, a cloud service provider, has become a crucial part of many organizations in this digital age. Dropbox has an estimate of over 600 million users. During the coronavirus pandemic, cloud storage and other online service providers saw a dramatic increase in their usage and demand as consumers shifted towards these platforms. Dropbox witnessed a rise of nearly 25% in daily trials of its premium package. Dropbox has been consistently profitable and for 8 consecutive quarters their earnings per share have risen. Dropbox stock has risen up by 30% to date, as compared to the price before the coronavirus pandemic.