STOCKS TELEGRAPH

Author: ST Staff

Were There Any Significant Reasons Why The ALJJ Stock Increased In Extended Trading?
Shares of ALJ Regional Holdings Inc. (ALJJ) were trending upward as of the last check in after-hours trading, rising 0.54% to $1.85. ALJJ stock closed the regular session at $1.84, up 8.88% or $0.15. ALJJ stock fluctuated between $1.72 and $2.16 during the day. There were 1.59 million shares exchanged, exceeding the ALJJ’s daily volume of 0.11 million within the past 50 days and its volume 0.79 million in the year.

ALJJ stock has retreated 296.12% in the past year, and it has gained 26.90% in the last week. The stock has gained 78.64% in the last six months, and 26.90% in the last three months. Price of ALJJ stock continues to surge after term loans were replaced and financings were amended.

How did ALJJ come to amend its financings?

ALJ Regional Holdings is the parent company of Faneuil, Inc. and Phoenix Color Corp. Faneuil provides call center and back-office operations, key personnel services, and toll collection services to businesses and governments throughout the US. Meanwhile, ALJJ’s Phoenix division produces value-added components, highly illustrated books, and special-purpose products made from a diverse range of materials and decorative technologies.

ALJJ announced yesterday that it has restructured its revolving credit facility and replaced its existing term loan.

Highlights of key transaction:
- Through its newly refinanced revolving credit facility and new term loan (collectively referred to as “New Debt”), ALJJ has reduced its amortization payments on its term loan by 54%, significantly improving it’s liquidity and its operational flexibility.
- The revolving credit facility will have a lower interest rate and the convertible debt will be diluted less.
- With the new term loan, ALJJ will have the option of paying interest in cash on the outstanding convertible debt rather than pay “interest in kind,” which could have diluted shareholders further.
- Furthermore, the average interest rate of the amended revolving credit facility has been lowered by more than 50%, while the total availability remains at $32.5 million.
- Through ALJJ’s New Debt, most existing equipment leases and financing arrangements have been consolidated into one new credit facility, which will improve cash flow in the near future.
- Based on projected results of operations, new debt covenants are reset to allow for adequate cushioning.
- ALJJ’s New Debt will mature in June 2025 instead of November 2023.
What impact will this financial restructuring have on ALJJ?

ALJJ will be able to refinance its capital structure with improved financial results. Moreover, ALJJ will also be able to strengthen its liquidity and improve cash flow, which will allow it to focus more on growth.
June 30, 2021
Is There Any Reason As To Why The GDYN Stock Fell By 8% After Hours?
On the last check Tuesday, shares of the enterprise-level digital transformation leader, Grid Dynamics Holdings Inc. (GDYN) were down -7.69 percent at $16.20 in after-hours trading. The stock of Grid Dynamics fell -2.72 percent to $17.55 at the end of the regular session. The stock of GDYN traded in a range of $17.51 to $18.29.

The volume of GDYN stock traded was 0.13 million shares, which was lower than the daily average of 0.16 million shares for the previous 100 days. In the previous five days, GDYN stock has fallen -4.52 percent, but has gained 14.18 percent in the last month. Following the commencement of a public offering, the GDYN stock plunged.

What does GDYN have to offer?

Grid Dynamics is a digital-first technology services company that helps Fortune 1000 organisations expand faster and gain a competitive advantage. In omnichannel customer experience, big data analytics, search, artificial intelligence, cloud migration, and application modernization, GDYN delivers digital transformation consultation and implementation services.

Grid Dynamics uses technological accelerators, an agile delivery culture, and a pool of global technical talent to achieve high speed-to-market, quality, and efficiency. GDYN is based in Silicon Valley and has offices throughout the United States, the United Kingdom, the Netherlands, Mexico, Central and Eastern Europe.

Grid Dynamics announced the start of an underwritten follow-on public offering of 10,100,262 shares of common stock yesterday.
- Grid Dynamics will offer 4,000,000 shares, while certain selling stockholders will offer 6,100,262 shares in GDYN’s offering.
- The selling investors will not get any proceeds from the sale of their shares to GDYN.
- GDYN and some selling investors also plan to provide the underwriters a 30-day option to buy up to 1,515,039 additional shares of common stock.
- For GDYN’s offering, JP Morgan Securities, LLC, William Blair & Company, LLC, and Cowen and Company, LLC are acting as joint book-running managers.
Acquisition strategy:

Tacit Knowledge, a Pitney Bowes subsidiary and premier provider of end-to-end digital commerce solutions for global companies, was purchased by Grid Dynamics last month. Tacit Knowledge, a global provider of digital commerce solutions, was founded in 2002 and serves customers in the United Kingdom, North America, Continental Europe, and Asia.

Its major clients include Visa, LVMH, and Shimano, and it serves prominent worldwide brands in the technology, CPG, financial, and retail industries. The whole team of over 180 workers from the UK, Mexico, Moldova, and the United States, including senior management, will join GDYN as part of the purchase.

How will this transaction affect GDYN?

The locations of Tacit Knowledge and Grid Dynamics (GDYN) are very complementary, allowing GDYN to expand its capabilities and service to additional clients from nearshore sites. GDYN’s available cash reserves were used to fund the transaction.
June 30, 2021
Brickell Biotech, Inc. (BBI) Stock Rallies Ahead of Sofpironium Bromide Clinical Trial Milestones

Brickell Biotech, Inc. (BBI) stock prices were down by a marginal 0.52% as of the market closing on June 29^th, 2021, bringing the price per share down to USD$0.93 at the end of the trading day. Subsequent pre-market fluctuations saw the stock rally by 5.91%, bringing it up to USD$0.98.

Sofpironium Bromide Gel, 15%, Study

The company’s U.S Phase 3 clinical program is comprised of two pivotal studies designed to evaluate sofpironium bromide gel, 15%. Cardigan I and Cardigan II each have approximately 350 subjects enrolled, each of which is above the age of 8 and has primary axillary hyperhidrosis. The efficacy and safety of topically applied sofpironium bromide gel will be evaluated in the multicenter, randomized, double-blinded, vehicle-controlled studies, with safety and tolerability assessments being performed throughout the studies.

Details of the Study

The regimen consists of subjects applying the treatment or a placebo to their underarms once daily before sleeping at night for a period of six consecutive weeks, with a 2-week post-treatment follow up. The co-primary efficacy endpoints of both studies include the demographic of patients that exhibited at least a 2-point improvement on the Hyperhidrosis Disease Severity Measure-Axillary (HDSM-Ax) scale, which is a proprietary and validated patient-reported outcome measure. The studies will also evaluate changes in gravimetric sweat production (GSP) from baseline to the end of treatment.

Scope of Clinical Study

Topline results from each of the Cardigan clinical studies is expected for the fourth quarter of 2021. The success of these results will form the basis of a potential NDA in the U.S for sofpironium bromide gel, 15% for the treatment of primary axillary hyperhidrosis.

Phase 1 PPH Clinical Study

June 24^th, 2021 had seen the company announce that its development partner, Kaken Pharmaceutical, had initiated a Phase 1 clinical study to assess the pharmacokinetics of sofpironium bromide gel. The Study would assess the efficacy and safety of the treatment in patients with primary palmoplantar hyperhidrosis in Japan. PPH is a medical disorder that is very common, resulting in excessive sweating from the palms and soles. Primary palmar hidrosis is estimated to affect 5.33% of the Japanese population, while primary plantar hyperhidrosis is thought to affect 2.79% of the population. With no existing approved topical prescription treatments available for PPH in Japan, the study’s scope is potentially massive.

Future Outlook for BBI

Armed with a solid liquidity position, BBI is poised to capitalize on the strides made in its clinical studies, with the company pushing for the commercialization and proliferation of sofpirinium bromide gel, 15%. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

June 30, 2021
Powerbridge Technologies Co., Ltd. (PBTS) Stock Skyrockets as Latest Possible Target of Meme Stock Phenomenon

Powerbridge Technologies Co., Ltd.(PBTS) stock prices were up by a massive 100% as of the market closing on June 29^th, 2021, bringing the price per share up to USD$2.86 at the end of the trading day. After hours trading saw the stock surge by another 30.42%, bringing it up to USD$3.73.

Partnership with Huawei

April 14^th, 2021 saw the company announce its Strategic Cooperation Agreement with Huawei Technologies to collaboratively promote and market their services to local Chinese ports and customs. The agreement will be the framework on which their vision use innovative technologies such as Blockchain, Cloud Computing, Artificial Intelligence, and Internet of Thing in the global trade industry application. The parties also plan to leverage their joint advantage to collaboratively market their product and services to their target demographics.

Details of the Agreement

The agreement will also aim to seek a deeper collaboration in the interest of facilitating the provision of better digital transformation solutions in the global trade industry, as well as expanding the companies’ marketing influence both domestically and internationally. As per the agreement, the companies will promote the construction of Smart Ports while upgrading and accelerating its construction. Furthermore, the partnership will seek to create innovative solutions for Smart Bonded Zone.

Expanded Scope of PBTS

With Huawei’s advantage in market resources and PBTS’ expertise in global trade digital solutions, the two are committed to jointly building a new global trade ecosystem in China by leveraging their pooled resources. The partnership is expected to result in the promotion of more digital upgrades, as well as innovative solutions for Chinese custom, ports, and special bonded zone.Concurrent with the announcement of the partnership, PBTS launched its innovative Smart Port and Smart Customs products.

Meme Stock Phenomenon

While hugely impactful, the collaboration does not merit the overnight doubling of PBTS’s equity value. With no recent news coverage or changes in fundamentals, it is likely that PBTS has found itself to be the latest target of the meme stock phenomenon that has been resurged in stock markets. Rife with volatility and inherent risk, meme stocks are pumped by retail investors that coordinate a short squeeze on underperforming stocks. These stocks have little to no reason to be invested in, therefore entailing massive volatility and uncertainty.

Future Outlook for PBTS

Armed with its fortuitous surge in stock price, PBTS is poised to capitalize on its partnership with Huawei. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

June 30, 2021
VBI Vaccines Inc. (VBIV) Stock Dips Despite Promising Data from Covid-19 Vaccine Trial

VBI Vaccines Inc. (VBIV) stock prices were down by 8.5586% some time after market trading commenced on June 29^th 2021, bringing the price up to USD$3.6668 earlier on in the trading day.

Positive Trial Data

The company announced on June 29^th the positive Phase 1 data from its Phase 1/2 of its Covid-19 vaccine candidate, VBI-2902a. The trial saw the administering of the enveloped virus-like particle (eVLP) in healthy adults between the ages of 18 and 54. The 5µg dose expressed an optimized Covid-19 spike antigen, having been adjuvanted with aluminum phosphate.

Trial Results

It was generally well-tolerated and exhibited potent immune responses from subjects that were significantly higher than those seen in human convalescent sera. The potency of the eVLP particulate delivery platform against Covid-19 was demonstrated with the findings establishing a robust human proof-of-concept at a low dose and without the use of a next-generation adjuvant.

Developing eVLPs

The highly encouraging data furthers the development of the treatment that is being pushed towards commercialization with the support of the Canadian government, CEPI, and the National Research Council of Canada. The next phase of the ongoing adaptive Phase 1/2 study involved the assessment of VBI-2905a, with the commencement of this part of the trial anticipated for the third quarter of 2021.The company is also allocating resources towards developing multivalent eVLP candidates, which are designed to increase the scope of protection against Covid-19. A clinical study of one of these candidates is expected to commence in the first half of 2022.

Details of the Trial

The ongoing adaptive Phase 1/2 clinical study is randomized and placebo-controlled, with observers also being blind. Phase 1 assessed a 5µg dose of VBI-2902a, adjuvanted with aluminum phosphate. Treatment regimens included both one and two doses, with the second being administered 28 days after the initial jab. The Phase 1 part of the study saw a total of 61 healthy adults between the ages of 18 and 54, with no history of having been vaccinated against Covid-19.

Future Outlook for VBIV

With the world hurtling towards universal immunizations, VBIV is poised to continue its trajectory of success. The company is keen to usher in further growth as it continues to push for increased market penetration. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value

June 29, 2021
Infobird Co., Ltd. (IFBD) Stock Skyrockets as it Expands Network of Strategic Partnerships

Infobird Co., Ltd. (IFBD) stock prices were up by a massive 42.13% some time after market trading commenced on June 29^th, 2021, bringing the price up to USD$5.51 earlier on in the trading day.

About IFBD

Founded in 2001, IFBD has its headquarters in Beijing with a strong foothold in the Chinese market where it is a well-known SaaS provider of artificial intelligence enabled customer engagement solutions. Having started with call centers, the company is now a leading tech solutions provider for customized, customer engagement management. This is done through its cloud-based services, including, but not limited to, Saad, as well as business process outsourcing services.

Collaboration with SaSa

The company announced recently that it had collaborated with SaSa Cosmetics to facilitate the provision of various services. This move will serve to support the company’s marketing and customer service areas. The collaborative partner SaSa has extensive reach in the Asian markets as a large beauty retail chain with more than 300 brick and mortar locations that offer almost 1,000 brands.

Partnership with Zu Li Jian

IFBD also announced that it had entered into an agreement with Zu Li Jian, a leading shoe company that addresses a demographic of 260 million elderly and geriatric people of China. The agreement will facilitate the provision of digital costumer engagement solution, as well as to foster customer service improvements for the collaborative partner.

IFBD IPO

April 26^th, 2021 saw the company announce the closing of its IPO, wherein IFBD put up 6.25 million shares of its common stock for sale. The offering generated gross proceeds in the amount of USD$25 million, before the deduction of expenses related to the offering. The IPO also included a 45-day option for underwriters to purchase up to an additional 937,500 additional shares in the case of over-allotments. These shares would be price at the IPO price, less underwriting discounts and commissions.

Green Initiative

May 20^th, 2021 saw the company announce having reached an ecological cooperation agreement with China Electronic System Technology. As per the agreement, both companies will conduct comprehensive and in-depth cooperation in the areas of modern digital cities and credit creation in the interest of jointly facilitate the accelerated development of China’s digital economy.

Future Outlook for IBFD

Armed with a variety of recent strategic partnerships, IFBD is poised to continue its trajectory of success. The company is keen to usher in further growth as it continues to push for increased market penetration. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

June 29, 2021
Purple Innovation, Inc. (PRPL) Stock Undergoes Minor Volatility Following Adjusted Guidance

Purple Innovation, Inc. (PRPL) stock prices were down by -1.32% shortly after market trading commenced on June 29^th, 2021, bringing the price up to USD$27.58 early on in the trading day.

Modified Financial Guidance

The company recently modified its financial guidance for the upcoming quarters after experiencing technical problems after an accident and subsequent safety upgrades. Various parameters were lowered or withdrawn after PRPL had issues getting machinery back online. Revenues for the second quarter of 2021 were adjusted from USD$205 million to somewhere between USD$175 million and USD$185 million. Adjusted EBITDA guidance that was offered on May 17^th, 2021 was fully withdrawn.

Production Levels Slashed

Production levels are expected to be significantly lower than expected for a ten-week period, causing shipment backlogs that will affect second and third-quarter revenue. Production is expected to return to full operation by the middle of July 2021. Full-year guidance has also been revoked as the company conducts a review of its production issues. Revised guidance is forecasted to be offered with second-quarter earnings reports.

Product Portfolio Expansion

June 15^th, 2021 saw the company announce the expansion of its existing pillow product portfolio with the addition of the Purple Harmony Pillow and the Purple TwinCloud Pillow. The former will be available in additional sizes to fit every comfort level, while the latter features cooling, durable, and adjustable support improvements to improve the quality of sleep.

The Purple Harmony Pillow

The Purple Harmony Pillow has received overwhelmingly positive feedback from consumers and is now available in a new Low size, in addition to its existing Medium and Tall sizes. The pillow employs Grid Hex technology, which facilitates persistent airflow through more than 2,000 open air channels. This helps keep users cool through the night, while instantly adapting to the head and neck.

The Purple TwinCloud

The Purple TwinCloud serves as a down-like pillow that is moldable and has plush support. It has an adjustable unzip-and-flip design that allows for modifications of support levels for a more personalized resting experience. Fluffy, gel fibers that fill the pillow counter easily to the head and neck, enabling the pillow to adapt to any sleeping position.

Future Outlook for PRPL

Armed with the pending commercialization and proliferation of its new products in a market that is ripe for the taking, PRPL is poised to continue its trajectory of success. The company is keen to usher in further growth as it continues to push for increased market penetration. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

June 29, 2021
Phunware, Inc. (PHUN) Stock on the Rise Following Ten Million PhunToken Sweepstakes Announcement

Phunware, Inc. (PHUN) stock prices were up by a significant 7.1428% shortly after market trading commenced on June 29^th 2021, bringing the price up to USD$1.425 early on in the trading day.

Ten Million PhunToken Sweepstakes

June 28^th, 2021 saw PHUN announce its Ten Million PhunToken Sweepstakes, which will coincide with the release of PhunWallet on the Apple app store. The release will see PhunWallet penetrate both the Apple and Android markets, having already been launched on Google Play. The Sweepstakes will commence at the end of July and will provide participants with the opportunity to early daily entries by engaging with content inside of the PhunWallet app. As per the initiative, 10 winners will be selected to receive one million PhunTokens each.

PhunWallet

The company hopes to combine its PhunWallet and its dual token economy to provide an innovative new platform to brands and consumers. The platform will serve to give stakeholders more control over their data and compensates consumers fairly for their participation. PhunWallet is a cryptocurrency wallet and mobile application that works in conjunction with the company’s proprietary blockchain-enabled data exchange and mobile loyalty ecosystem. The data exchange and ecosystem are respectively powered by PhunCoin and PhunToken.

PHUN Cryptocurrency

Being a regulated store of value, PhunCoin serves to compensate users for their data, while PhunToken is designed to be a medium of exchange that encourages profitable behaviour by unlocking key features of the company’s MaaS platform that reward and measure engagement.PhunCoin issuances identified by the SDK for Apple and Android can be manage by PhunWallet, facilitating the rewarding of consumers for their data with PhunCoin by third-party mobile applications.

PhunWallet Services

Besides managing PhunToken purchases, PhunWallet allows user to manage PhunCoin purchases made in accordance with approved exemptions. PhunTokens can be earned by participating in activities that foster profitable behaviour, such as watching branded videos, completing surveys and visiting points of interest. The platform also facilitates the discovery of brands, deals, and opportunities that are tailored to users. Through PhunWallet, users can opt in or out of specific audience segments that are used by brands to personalize data-enriched media without compromising their PII.

Future Outlook for PHUN

With the company set to be acquired, PHUN is poised for the expanded facilities that will be made available to it to drive further growth. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

June 29, 2021
Why Is The DiaMedica (DMAC) Stock Dropping In The Premarket Session Today?
As of the last check, DiaMedica Therapeutics Inc. (DMAC) shares were down -22.45% to $5.56 in pre-market trading. DiaMedica stock finished Monday session at $7.17, down by -1.92%. Volume of DMAC stock stood at 78024.0 shares, down from the average daily volume of 0.11 million shares during the past 50 days. Within the past week, DMAC shares have fallen -4.40% and it has a decline of 6.70 percent over the last year.

DMAC stock has lost -21.21 percent in the past three months and lost -25.62 percent in the past six months. Furthermore, DMAC has a market capitalization of $133.08 million, with 18.77 million outstanding shares. Despite a positive interim study result, DMAC stock fell.

What was DMAC’s study about?

Currently, DiaMedica is a clinical-stage biopharmaceutical company dedicated to improving the lives of people affected by neurological and chronic kidney diseases. A positive interim result has been announced today from DiaMedica’s REDUX Phase 2 trial of DM199 in chronic kidney disease (CKD). Three population groups with high medical needs are being studied by DMAC in the REDUX trial including African Americans (AA) with:
1. non-diabetic and hypertensive (Cohort 1);
2. IgA Nephropathy (IgAN) (Cohort 2); and
- diabetic kidney disease (DKD) (Cohort 3).
- Participants had proteinuria and a glomerular filtration rate of 30-90 ml/min/1.73m2.
- DMAC found the development of kidney function improvements in Cohort 1 and 2 of DM199 has been demonstrated by increasing the estimated glomerular filtration rate (eGFR) and reducing urine albumin-to-creatinine ratio (UACR).
- Furthermore, DMAC’s DM199 helped lower blood pressure by clinically significant amounts in those with hypertension (Cohorts 1 and 3).
- None of the cohorts experienced severe adverse events (SAEs) or had to discontinue treatment due to adverse events (AEs) associated with DM199.
- In general, AEs observed by DMAC were mild to moderate in severity, with local injection site irritation being the most common.
- Further clinical evaluation of the biological activity of recombinant KLK1 (DM199) confirms its potency and will support DMAC to achieve clinical benefit similar to or better than that provided by exogenous KLK1.
- A pivotal Phase 2/3 study in acute ischemic stroke will be begun later this summer, as DMAC continues to evaluate DM199 in IgAN and hypertensive African Americans with CKD.
What those results mean for DMAC?

Though these are preliminary results but have demonstrated that DM199 can be an effective treatment option by DiaMedica (DMAC) for patients with kidney disease who have significant unmet needs, including African Americans with uncontrolled hypertension. DMAC’s DM199 is shown to have important physiological effects on eGFR, UACR, and blood pressure, which warrants further research.
June 29, 2021
Palatin Technologies Inc. (PTN) stock surged in the premarket trading session; here’s why

Palatin Technologies Inc. (PTN stock) showed a surge in the premarket trading session, at last check in which it traded at $0.63, a 14.61% jump. PTN stock previously closed the session on Tuesday with a shed of -0.05% at $0.55. The PTN stock volume traded 0.91 million shares, and in the past 50 days the average volume of PTN stock trading was 1.51 million shares. In the past year up to date, PTN shares have surged by 6.72% and in the past week we see that PTN stock have moved up by 0.38%. In the past three and six months, the stock has shed-21.47%, and-17.59% respectively.

What you need to know about Palatin Technology’s operational background

Palatin Technologies Inc. is a biotechnology company that is specifically identified as a specialized biopharma company which develops treatment of various diseases by establishing a platform for specifically targeting receptors specifically to administer therapeutic treatment. The lead candidate of the company is used for the treatment of generalized hypoactive sexual desire disorder acquired through premenopausal in women. The name of the candidate is Vyleesi which triggers treatment through the melanocortin receptor agonist.

Furthermore, PTN stock has been making continuous progress in the creation of a selective melanocortin receptor 1 agonist peptide for the treatment of inflammatory bowel diseases. This candidate is known as PL8177 which is administered orally and has completed Phase I clinical trial as well as systemic PL8177 which also completed phase I trial for treatment of non-infectious uveitis and COVID-19. Also, the organization takes part in the advancement of PL9643, a peptide melanocortin agonist dynamic at numerous MCrs, including MC1r and MC5r for mitigating visual signs, for example, dry eye infection; and melanocortin peptides for diabetic retinopathy.

Furthermore, it is creating PL3994, a natriuretic peptide receptor (NPR)- An agonist and manufactured mimetic of the endogenous neuropeptide chemical atrial natriuretic peptide for cardiovascular signs; and PL5028, a double NPR-An and NPR-C agonist to treat cardiovascular and fibrotic infections, including lessening heart hypertrophy and fibrosis. The organization was established in 1986 and is situated in Cranbury, New Jersey.

Palatin wishes to propel PL943’ study trial to two phase 3 in order to gain NDA from FDA

Palatin is aiming to further the trial and study phase of PL9643 which will be developed for the cure of Dry Eye Disease. It has already progressed through the phase 1 study and Phase 2 development of PL9643 for Dry Eye Disease. The next recent step that is has progressed to, is the End of Phase 2 Meeting (EOP2) with the US Food and Drug Administration.

The meeting discussed the scope of all aspects of PL9643 for the phase 3 development. These aspects included the design of the study, patient population, interim assessment, and efficacy as well as target results. Additionally there is a push on the second phase 3 study which PTN stock seeks approval of which will initiate the efficacy and safety of the drug in order to define the New Drug Application.

June 29, 2021