STOCKS TELEGRAPH

Author: ST Staff

  • Vyant Bio, Inc. (VYNT) Stock Undergoes Minor Volatility Ahead of Granting of US Patent for iPSCs

    Vyant Bio, Inc. (VYNT) stock prices were down by 5.22% at the end of the trading day on July 14th, 2021, bringing the price per share down to USD$3.27 at the end of the trading day. Subsequent premarket fluctuations have seen the stock recover by 5.81%, bringing it up to USD$3.46.

    StemoniX Granted US Patent

    July 13th, 2021 saw the company announce that StemoniX, its wholly-owned subsidiary, was issued a US Patent by the United States Patent and Trademark Office (USPTO). The patent is titled “High Throughput Optical Assay of Human Mixed Cell Population Spheroids” and covers a novel approach to the application of human-induced Pluripotent Stem Cells (iPSCs) as an effective tool in the illumination of the biology of complex human cell types, such as those of the central nervous system (CNS).

    Nature of iPSC Platform

    Human iPSC-based, high-throughput platforms that currently exist have lacked reliability and functional consistency. The patent also covers the use of 3D co-cultures of cortical neurons and astrocytes that display spontaneous, rhythmic, and highly synchronized neural activity. This activity can visualized as calcium oscillations on standard, high-throughput fluorescent readers as a platform for CNS-based discovery effects.

    Details of iPSC

    Spontaneous activity and spheroid structure proved to be highly consistent from well-to-well, which is a feature that is lacking in traditional 2D cultures. The technology facilitates a cost-effective method to perform high-throughput drug screening (HTS) in regard to 3D human tissue relevant models that have a higher degree of biological accuracy. This patent marks the third patent granted to StemoniX, with additional applications currently pending across globe.

    Competitive Advantage

    Existing conventional high-throughput drug screening typically makes use of recombinant cell lines that overexpress a drug target of interest. The technology is aimed to deliver the development of relevant cellular disease models that will be used in high-throughput screening. Human iPSCs have been proven to have significant advantages over recombinant cell lines or primary rodent cells that will be used in drug screening. Given that the cells are derived from human donors, human genetic diseases can be modelled more accurately, particularly when used in tandem with modern genome editing techniques.

    Future Outlook for VYNT

    Armed with the promising potential of the patent granted to StemoniX, VYNT is poised to capitalize on the expanded scope of opportunities presented to it. Keen to pioneer their segment of the healthcare system, the company is pushing for the continued development of their innovative technology. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to usher in significant and sustained increases in shareholder value.

  • What Caused The AFIB Stock To Rise Premarket?

    As of the last check, Acutus Medical Inc. (AFIB) shares were up 1.53% to $15.28 in premarket trading. Acutus stock fell -2.78 percent to close last session at $15.05. During the past 50 days, AFIB stock has traded 0.56 million shares, a volume which is higher than its trading volume of 0.22 million shares traded on the day. Currently, AFIB has a market capitalization of $415.98 million and 28.03 million outstanding shares. After its common shares offering, AFIB stock is gaining ground.

    What has AFIB offering?

    Acutus is a company that defines and treats cardiac arrhythmias so they can be diagnosed and treated more effectively. AFIB is committed to making electrophysiology a more efficient and effective field of treatment for more patients with the help of a unique array of products and technologies.

    By developing its own products, making acquisitions, and partnering with global companies, AFIB has established itself as a global player. With its broad range of highly differentiated electrophysiology products, AFIB offers its customers a complete solution to combat cardiac arrhythmias by catheter.

    Acutus announced that it is offering 5,500,000 shares of its common stock at a price of $14 per share in an underwritten public offering.

    • AFIB is offering all of the shares of its common stock.
    • AFIF expects the gross proceeds from the offering to be $77.0 million, before taking into account underwriting discounts and commissions and other offering expenses.
    • As long as the closing conditions are satisfied, AFIB anticipates closing the offering on July 19, 2021.
    • Underwriters can also buy up to an additional 825,000 AFIB shares for a price to the public by AFIB, less underwriting discounts and commissions, for a period of 30 days from the date of the public offering.
    • AFIB’s offering is solely managed by The Goldman Sachs.

    Also this week, Accutus announced preliminary non-audited results for the second quarter of 2021.

    Key Highlights:

    • Compared to $3.6 million in Q1 2021 and $1.1 million in Q2 2020, preliminary quarter-to-quarter net sales in Q2 2021 are expected to be roughly between $4.6 and $4.7 million.
    • According to AFIB, there will be 68 second-generation AcQMap consoles installed worldwide by June 30, 2021, compared to 57 as of March 31, 2021.
    • In June 2021, 70 of AFIB’s AcQMap consoles were installed, bringing the total installed base to 75.
    • AFIB’s direct businesses experienced over 40% sequential growth over the first quarter of 2021, a trend it was pleased with during the second quarter.

    An overview of AFIB’s other efforts:

    Acutus Medical (AFIB) has received US Investigational Device Exemption in order to institute clinical trials of the AcQBlate Force-Sensing Ablation Catheter and System in paroxysmal and persistent atrial fibrillation. Likewise, AFIB will be in person at Heart Rhythm Society’s annual meeting in Boston, from July 28 to July 31, for a symposium devoted to Rhythm Theater, which will be held in conjunction with the company’s first meeting.

  • What Led The YVR Stock To Increase In Premarket Trades?

    At last check in premarket trading, Liquid Media Group Ltd. (YVR) was up 4.43% at $1.65 on the charts today. Liquid Media shares fell by -2.29% on Wednesday, closing at $1.58. YVR shares were traded in volume of 0.69 million, which is lower than the average volume of 2.22 million over the last three months.

    The YVR stock fluctuated between $1.51 and $1.62 during the trading session. YVR’s earnings per share ratio were -0.43. The YVR stock has gained 3.95% in the past five sessions and has lost -18.97% in the past month. In the absence of current news, YVR stock is rising, so we can refer to recent developments for an in-depth analysis of YVR.

    How did YVR’s recent activities go?

    Liquid Media provides business solutions to independent intellectual property creators. Through YVR’s all-in-one platform, content creators (film/TV and video game) can create, package, finance, deliver, and monetize their content. IP creators are empowered by YVR’s solutions from ideation and creation to monetization and distribution.

    In a letter to shareholders, CEO Ronald Thomson addressed Liquid Media shareholders.

    YVR wrote in its letter that:

    • 2021 has started off extremely well for YVR.
    • The media and entertainment segments are continuing to evolve globally, and YVR sees tremendous opportunities for expanding its operations and supporting creators to thrive.
    • Since last year, more consumers have been seeking and consuming high-quality video content – everything from streaming shows, movies, and TV shows to video games with epic cinematic scenes.
    • There are entire libraries of television and film programming that they’ve watched, and they’ve logged countless hours of gaming time.
    • Audiences and experts believe that the rising demand for new TV, film, and gaming options is a result of this evolution in consumer behavior.
    • Thankfully, productions and shoots are up and running again in many parts of the world following a yearlong health crisis that affected the entertainment sector.
    • As independent producers are faced with new challenges, they require more business support than ever so they can focus on what they do best: telling stories.
    • Recalibration of YVR’s business strategy drives the company’s four-stage solution engine by leveraging its core assets, infrastructure, and talent.

    How has YVR been faring in recent months?

    In recent months, Liquid Media (YVR) has been working tirelessly on enhancing its strategic plan. YVR believes it will provide dramatic growth and long-term upside potential for our business, adding value to shareholders through a massively underserved market. In other words, YVR felt that the time for small steps was over and a significant move into the business world was needed, which it’s already beginning to do by acquiring iGEMS , Filmocracy, and iNDIEFLIX.

  • Galapagos NV (GLPG) Stock Trending Lower Despite Successful Topline Results from GLPG3667 and GLPG 3970 Studies

    Galapagos NV (GLPG) stock prices were down a marginal 1.79% as of the market closing on July 14th, 2021, bringing the price per share down to USD$65.80. Subsequent premarket fluctuations have seen the stock fall by 11.14%, bringing it down to USD$58.47.

    GLPG3667

    July 14th, 2021 saw the company announce positive topline results from the evaluation of GLPG3667, a proprietary TYK2 compound. The randomized, placebo-controlled, double-blind Phase 1b study had a total of 31 patients enrolled, each with a diagnosis ranging from moderate to severe plaque psoriasis. Patients were randomized in a 1:1:1 ratio and were administered a daily oral dose of GLPG3667 or a placebo over the course of four weeks. The main objectives of the study were to evaluate the safety and tolerability of the treatment, as well as signs indicating clinical activity.

    Success of the Study

    The treatment was found to be well tolerated during the course of the trial, barring one patient in the low dose group having interrupted the study for one day on account of the exacerbation of psoriasis. Any treatment related adverse events were mild in nature and transient, with no deaths or serious adverse events being reported. By Week 4, 40% of patients in the high dose group had a PASI 50 response, which is indicative of a minimum 50% improvement in PASI from baseline.

    GLPG3970

    Concurrently, the company announced the success of topline results from three patient studies for GLPG3970. The study evaluated the proprietary salt inducible kinase 2/3 inhibitor. The studies were randomized, placebo-controlled, double blind, with a Phase 1b study in patients with moderate to severe psoriasis. Two Phase 2a studies were also conducted in patients with moderate to severely active UC and RA.

    Continued Success

    With the treatment being administered orally once-daily for a period of 6 weeks, the main objectives were to evaluate the safety and tolerability of GLPG3970, as well as early signs of biologic and clinical effect. The treatment was generally safe and well tolerated across all three studies. No deaths or serious adverse events were reported, while the majority of treatment emergent adverse events were mild to moderate in nature.

    Future Outlook for GLPG

    Armed with the success of its various studies, GLPG is poised to capitalize on the opportunities presented to it as it further develops its flagship treatments. The company is keen to push for the accelerated development and eventual commercialization of its pipeline of products. Investors are hopeful that the proliferation of the treatment will result in sustained and significant increases in shareholder value.

  • How Did The LIXT Stock Rise In Pre-Market Session?

    Lixte Biotechnology Holdings Inc. (LIXT) shares rose 13.76 percent to $3.39 in pre-market trade Thursday. The market price of Lixte stock ended last trading day at $2.96, down -6.92%. Trading volume for LIXT stock was 62899 shares, less than the average daily trading volume of 0.25 million shares over the past 50 days.

    While they have retreated -1.33% over the last five days, shares of LIXT have lost -1.00% in the past month. This year, LIXT has lost -48.88 percent so far and has lost -0.34% over the last three months. In response to outside research on its cancer treatment compound, LIXT stock rose.

    What research has been done?

    In addition to developing drugs for many types of cancer, Lixte Biotechnology is tackling more serious common diseases through research. One of the major causes of cancer is the malfunctioning of the switches that turn the biochemical pathways “on” and “off” in cells.

    During the past 30 years, cancer research has largely focused on “on” switches since “off” switches, especially the protein phosphatase (PP2A) master “off” switch, caused unacceptably high toxicities in patients. LB-100, LIXT’s novel, first-in-class lead compound, was found to be well tolerated in cancer patients at doses associated with anti-cancer activity, demonstrating that it has the potential to prevent the development of cancer.

    On Tuesday, Lixte announced that National Latino Leader Award winner Julio Pimentel from Wayne State University School of Medicine’s Cancer Biology program had been chosen for the second time to receive a scholarship and the award.

    • The Society of Advancing Chicanos/Hispanics and Native Americans in the Sciences Conference, taking place October 25-29, 2021, will be the perfect venue for Pimentel where he will present virtually studies of LB-100 in triple negative breast cancer (TNBC).
    • The award acknowledges his considerable achievements in research despite the challenges caused by COVID 19.
    • Pimentel and his coauthors were congratulated by LIXT for demonstrating that LB-100 inhibits TNBC cell growth, whether the cells are resistant to TRAIL or not.
    • LIXT’s LB-100 sensitizes TNBC cells to chemotherapy drugs like paclitaxel and cisplatin, which are used regularly for treating TNBC.
    • Researchers Pimentel and his colleagues concluded that inhibition of PP2A activity has therapeutic potential in treating this notoriously unresponsive type of breast cancer.

    The LB-100 strategy of LIXT:

    Many preclinical studies have shown that LB-100 can enhance conventional therapy for many types of cancer, including some of the most aggressive kinds. A good example of this is the report from Wayne State University. Lixte (LIXT) is evaluating LB-100 as a component of chemotherapy for TNBC, and is seeking a partner interested in conducting studies on LB-100 there.

  • ToughBuilt Industries, Inc. (TBLT) Stock Undergoes Minor Volatility Following Registered Direct Offering

    ToughBuilt Industries, Inc. (TBLT) stock prices were down by a marginal 0.54% as of the market closing on July 14th, 2021, bringing the price per share down to USD$0.6681 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 3.04%, bringing it up to USD$0.6884.

    Registered Direct Offering

    July 11th, 2021 saw the company announce that it had entered into a securities purchase agreement with various institutional investors. As per the agreement, the company would issue and sell of 46,029,920 shares of common stock, as well as warrants to purchase up to 23,014,960 shares. Each share and the accompanying warrant will be priced at USD$0.869 in the direct offering.

    Details of the Offering

    The warrants will be able to be exercised immediately, with an exercise price of USD$0.81 per share of common stock and expiry date of five years from the date of issuance. The company anticipated the generation of almost USD$40 million before the deduction of expenses related to the offering, with plans to allocate the net proceeds from the offering towards working capital purposes.

    Success of Amazon Sales

    July 8th, 2021 saw the company announce that gross sales of the company through Amazon.com were up by 118% in the first half of 2021, as compared to the first half of the prior year. H1 2021 reported almost USD$5.48 million, up from the USD$2.51 million in H1 2020. The significant momentum generated by sales through Amazon in the first half of 2021 is indicative of the company’s increasing strength across its product offerings, catering to professional and DIY builders across the North American continent.

    Expanding Scope of TBLT

    As the company continues to expand its online presence into Canada and Mexico while US sales are on the rise, the company is facilitating further development. TBLT is strategizing concurrent expansion of their geographic commercial footprint, facilitated by the launch of new SKUs that will see the company capitalize on the strong demand for their innovative designs and features.

    Future Outlook for TBLT

    Armed with the added capital generated from their public offering and the success of their Amazon sales, TBLT is poised to capitalize on the opportunities presented to them. The company is keen to facilitate further organic growth as it continues to expand its market footprint, thus driving up increases in shareholder value.

  • Arlo Technologies Inc. (ARLO) stock surged in the premarket trading session; here’s why

    It was noticed in the premarket trading session at the latest check that Arlo Technologies Inc. (ARLO stock) shares had spiked up by 16.42% at the trade price of $6.95. ARLO stock previously closed the session on Thursday and shed -1.00% at $5.97. The ARLO stock volume traded 0.81 million shares in the past 50 days however the volume that remained today was twice that to 1.62 million shares. In the past year up to date, ARLO stock jumped by 105.86%, and similarly, in the past week, the stock shed -7.01%. ARLO stock is currently valued in the market at $482.08 million and has 80.37 million outstanding shares.

    About Arlo Technologies

    Arlo Technologies is a Security and Protection services company that focuses on the provision of smart devices that can be connected to provide surveillance and monitoring of an environment. These smart devices are integrated with Wi-Fi and can also be connected with a cellular device in America, Asia Pacific, Europe, Africa, and the Middle East.

    The company’s product offering includes a proprietary wired indoor solution – a smart device to monitor indoor surroundings. The product comes in two versions called Arlo Q and Arlo Q Plus. The company provides security and protection solutions for a diverse range of everyday products. This includes Arlo Baby which is a baby monitor with temperature sensors as well as motion detectors and advanced night vision. ArloGo, is an LTE-enabled wire-free camera for the security of mobile. Arlo Chime and Arlo Audio can be paired together to provide various ringtones, sirens, and notification alerts for doorbells and other signals.

    Arlo Ultra is a crystal-clear two-way noise-cancellation camera. Alro Pro 3 is integrated to provide coloured night vision. The Arlo Video Doorbell provides direct-to-mobile video calls and alerts.

    Moreover, it gives Arloaccessories, like charging extras, gadget mounts, and gadget skins; Arlo Essential Wire-Free Video Doorbell that joins a powerful environment of home security items and administrations; and Arlo Pro 4 Wire-Free Spotlight. Further, the organization offers Arlo application for iOS and Android gadgets that permit clients to associate different gadgets; and prepaid administrations, including seven-day cloud video stockpiling with the capacity to interface up to five cameras and 90 days of client assistance. The organization offers its items through retail channels, discount dissemination and remote transporter channels, and paid membership administrations. Arlo Technologies, Inc. was fused in 2018 and is settled in San Jose, California

    ARLO stock announces date for releasing the second quarter 2021

    Many companies provide their second-quarter fiscal year financial results ranging from the month of July to all the way August or even September. This is definitely the case with Arlo Technologies because it has announced as of 14th July 2021, that it will be setting up the date for the release of its financial result of second-quarter 2021 in the month of August for the date 4th, 2021.

    A conference call will be held with the stockholders, investors as well as analysts on that day to discuss the financial performance in the second quarter and what it has in store for the ARLO stock in the rest of 2021.

  • What Motivated Sotherly (SOHO) Stock To Climb 6%?

    Shares of Sotherly Hotels Inc. (SOHO) are up 6.18% in after-hours trading at $2.92. Last session, Sotherly stock closed at $2.75, trading between $2.7101 and $2.86. Shares of SOHO stock traded for 55805.0, below its 50-day daily volume of 0.27 million and below its year-to-date volume of 0.19 million.

    The SOHO stock has declined 19.05% in the past year, and in the last week it fell -0.72%. Since May, SOHO stock has lost 2.48% but is still up 10.00% for the year. On announcing that the company would release its financial information, SOHO stock gained traction.

    When will SOHO release its quarterly results?

    Sotherly owns and manages self-managed and self-administered lodging properties in the Southern United States that are primarily focused on acquisition, renovation, upbranding, and repositioning of upscale to upper-upscale full service properties. SOHO’s current portfolio consists of investments in twelve hotel properties, totaling 3,156 rooms, along with ownership interests in two condominium hotels and their rental programs.

    Hotel properties that SOHO owns include those operated by Hilton Worldwide, Hyatt Hotels Corporation, and Marriott International, Inc. Williamsburg, Virginia, is home to SOHO, which was formed in 2004.

    Yesterday, Sotherly announced it will report its financial results for the second quarter of 2021 before the market opens on Thursday, August 12, 2021.

    An investor conference call will take place that same day at 10:00 a.m. Eastern Time (ET). During the conference call, SOHO’s management will discuss the Company’s results for the second quarter of 2021. SOHO’s earnings release, which will be available on the Company’s website under the Investors section under Financial Information, contains the information to be discussed on the call.

    SOHO’s performance in the previous quarter:

    Following are highlights for Sotherly’s results for the first quarter ended March 31, 2021:

    • For SOHO’s composite portfolio, RevPAR (revenue per available room) decreased by 26.0% over the corresponding quarter last year, to $66.14, owing to a 21.1% decline in occupancy and a 6.1% decrease in average daily rate (“ADR”).
    • The total revenue generated by SOHO decreased 39.2% during the three-month period ended March 31, 2021. It was approximately $22.6 million compared to approximately $37.2 million during the same period last year.
    • Sotherly has suspended its regular quarterly cash dividends, per its Board of Directors’ approval, to conserve liquidity. For the quarter ended March 31, 2021, SOHO did not pay a dividend on either its common stock or its common units.
    • Hotel EBITDA for Sotherly (SOHO) was approximately $4.2 million during the three months ended March 31, 2021. A 17.0% decrease in hotel EBITDA, or approximately $0.9 million, was recorded over the quarter.

  • Alterity Therapeutics Ltd. (ATHE) Stock Surges as Scope of Patent is Explored in Treatment of Alzheimer’s and Parkinson’s

    Alterity Therapeutics Ltd. (ATHE) stock prices were down by 2.11%, bringing the price per share down to USD$1.39 at the end of the trading day. Subsequent premarket fluctuations saw the stock surge by 30.22%, bringing it up to USD$1.81.

    USPTO Patent

    July 1st, 2021 saw the company announce that it had been granted a new composition of matter patent by the United States Patent and Trademark Office (USPTO). This patent will offer the company a vast monopoly over a new class of iron chaperons, which is a technology capable of redistributing excess iron in the central nervous system. The structural backbone presented in the patent serves as the foundation for small molecule drug candidates that have the capacity to cross the blood brain barrier, thus directly attacking sources of various neuropathologies.

    Scope of Patent

    Alzheimer’s and Parkinson’s are associated with excess levels of iron in the brain, as are various other important neurodegenerative diseases. Titled “Compounds for and Methods of Treating Diseases”, the patent was granted following an expedited review by the USPTO. It includes coverage of more than 150 novel pharmaceutical compositions that are designed to facilitate the redistribution of the labile iron that is involved in a myriad of neurodegenerative conditions.

    Dissecting the Patent

    The company is set to launch the Phase 2 trial of ATH434, its lead clinical candidate, by the end of the 2021 year. The small molecule drug is being developed for Multiple System Atrophy (MSA), which is a form of atypical parkinsonism where iron is essential in pathogenesis by promoting α-synuclein aggregation. Results from the Phase 2 study, in conjunction with the ongoing scientific investigation of the treatment, will facilitate the development and optimization of novel compounds that are expected to emerge from the new patent

    Continued Expansion

    The significant milestone represents an important part of our corporate strategy aimed to expand the company’s portfolio of potential disease modifying treatments for the demographic affected by neurodegenerative diseases. The newly covered compounds are designed to target excess brain iron resulting from the conditions, with the company hoping to identify a new clinical candidate by the time the lead clinical program results are reported.

    Future Outlook for ATHE

    Armed with the lucrative potential afforded by the granting of the patent, ATHE is poised to capitalize on the continued development of its lead product. The company is keen to continue its trajectory of success as it continues to explore added opportunities arising from the patent. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to usher in significant and sustained increases in shareholder value.

  • On What Basis Did AIG Stock Rise 7%?

    The share price of American International Group Inc. (AIG) grew 7.52% in after-hours trading on Wednesday. The stock of AIG fell -0.68% to trade at $46.41 at the end of the regular trading session. The price of AIG shares ranged from $46.02 to $47.35. A total of 2.67 million shares of AIG stock were traded, which was below the daily average of 4.21 million shares over 100 days.

    The shares of AIG have fallen -0.81% over the past five days, as well as by -9.18% over the past month. At present, AIG’s dividend yield stands at 2.76%. It currently trades at a price to book ratio of 0.65 and a price to cash flow ratio of 65.72. With a definitive agreement to sell some of its assets, AIG stock price is rising.

    Which assets are being sold by AIG?

    American International Group is one of the world’s leading insurance companies. The AIG member companies provide a broad range of insurance, retirement solutions, and other financial services to customers in about 80 countries. Businesses and individuals can take advantage of AIG’s wide range of products and services, which include protection of assets, risk management, and retirement savings.

    American International Group yesterday announced that it has reached to a definitive agreement with Blackstone (NYSE:BX).

    • The agreement calls for Blackstone to buy a 9.9% stake in AIG’s Life & Retirement business in an all-cash deal at $2.2 billion.
    • Additionally, with this agreement, Blackstone will be able to manage existing investment portfolios of AIG through a long-term strategic asset management relationship.
    • In the immediate aftermath of the investment, Blackstone will manage about $50 billion of Life & Retirement’s portfolio; that amount will grow to $92.5 billion in the six years to follow.
    • Blackstone’s Jon Gray, President and Chief Operating Officer, will become a member of the Life & Retirement Board of Directors, when the transactions close simultaneously by the third quarter of 2021.
    • Additionally, AIG and Blackstone Real Estate Income Trust (BREIT) also made an announcement today that they have reached a definitive agreement.
    • BREIT is an investment vehicle affiliated with Blackstone, and under the agreement, it will acquire AIG’s interest in the US affordable housing portfolio for an all-cash transaction of approximately $5 billion.
    • It is expected that this transaction will close during the fourth quarter of 2021, subject to customary closing conditions.

    How will this help AIG?

    Having an investment with such a highly regarded organization as Blackstone will allow AIG to set up a cornerstone partnership on several fronts, validating AIG’s leadership position in Life & Retirement and providing it with additional opportunities for growth. As a result, AIG will be able to separate Life & Retirement from AIG, and will have a significant amount of additional capital at its disposal to apply to its capital management needs.