STOCKS TELEGRAPH

Author: ST Staff

  • Theravance (TBPH) Stock Fell 9% Last Session, Why?

    In after-hours trading, Theravance Biopharma Inc. (TBPH) was trading at $15.50, down -9.36%. In regular session, Theravance stock closed at $17.10, up by 2.70%. TBPH stock volume on Thursday was 0.45 million shares, which was above the average daily volume of 0.29 million shares over the past 50 days. Over the past 12 months, TBPH shares have lost -22.48%, and they have lost -3.01% over the last week.

    The TBPH stock has lost -14.54% over the past three months, and -10.28% over the past six months. Also, TBPH currently has a market capitalization of $1.12 billion and 64.49 million outstanding shares. An announcement about the pricing of its underwritten public offering triggered a rapid decline in TBPH stock.

    What price has TBPH set for its offering?

    Theravance is a biopharmaceutical company focused on discovering, developing and commercializing drugs that specifically target the organs of interest. To meet the needs of patients better, TBPH is dedicated to developing new small-molecule drugs. TBPH focuses its research efforts on immunology and inflammation.

    TBPH combines insights and innovation at each stage of its business and uses its internal capabilities, as well as those of its global partners, to achieve its purpose. TBPH employs its expertise in organ-selective pathology to develop new drugs that aim to increase a patient’s therapeutic index and minimize systemic side effects while maximizing efficacy.

    A public offering of 6,700,000 ordinary shares of Theravance was priced at $15 per share in an underwritten public offering announced by the company.

    • Pre-discounting, underwriting expenses and commissions, TBPH is expected to receive gross proceeds of $100.5 million.
    • TBPH has also given the underwriters the option to purchase up to an additional 1,005,000 ordinary shares during the 30-day period following the public offering.
    • Under normal circumstances, TBPH expects its offering to close on June 29, 2021.
    • Joint bookrunners SVB Leerink and Evercore ISI handled TBPH’s offering.
    • TBPH also engaged Credit Suisse as a bookrunner.
    • C. Wainwright & Co. served as TBPH’s lead manager for that offering.

    TBPH’s recent study results:

    Theravance (TBPH) also this week released top-line data in a Phase 2 study using nezulcitinib at 3 mg once-daily compared to a placebo.

    • TBPH is developing nezulcitinib, an investigational, inhaled pan-Janus kinase (JAK) inhibitor for the treatment of hospitalized patients who have acute lung injury and impaired oxygenation associated with COVID-19.
    • In TBPH’s study, patients hospitalized with COVID-19 with impaired oxygenation were randomized, compared to a control group, and treated with a placebo.
    • TBPH evaluated key endpoints through Day 28.
    • About 99% of the participants received steroids as part of the study’s standard of care.
    • Theravance (TBPH) will share these results with FDA, regulatory agencies, and other institutions to gain feedback on protocols for further studies of nezulcitinib in acute pulmonary inflammation.

  • Digital Brands Group Inc. (DBGI) stock surged in the current trading session; here’s why

    In the current trading session, Digital Brands Group Inc. (DBGI) shares had surged by 49.88% to trade at the price of $6.13 at the last check. DBGI stock previously closed the session at $4.09. The DBGI stock volume traded 30.99 million shares. In the past week, DBGI stock have moved up by 21.01%. Furthermore, Digital Brands Group Inc. is currently valued in the market at $42.92 million and has 10.49 million outstanding shares.

    About Digital Brands Group Inc.

    Digital Brands Group Inc. is an Apparel-retail company that specifically focuses on the provision of apparel that belong to various brands. The companies sale channel consist of DTC (Direct-to-consumer) and wholesale basis. DBGI is a digitally native vertical brand and has a network of third-party manufacturers that assist in the procurement and sourcing of clothes which are then directly sold through their e-commerce website to the end consumers. The company also sells to specialty stores, specific department stores and franchises in a wholesale bundle. The diverse product offering on the company includes denims, luxury suits, and women’s tops, dresses, bottoms, jackets, and rompers. All of these product offerings are listed and sold under branded names like DSTLD, ACE Studios, and Bailey brand. The company was previously named Denim.LA Inc. and was founded in 2012. DBGI stock’s headquarter is established in Austin, Texas.

    DBGI expanding its business through third party ecommerce platforms and acqusitions

    The pandemic has shifted the businesses and retail product consumption towards online shopping on ecommerce platforms and with the recovery of the economy along with the rolling of vaccinations consumers are making bold consumption decisions and demands. This is the ideal time for retail companies to expand and grow their e-commerce business.

    Digital Brands Group has taken a page from this strategy and taken to Amazon to expand their online business. DBGI stock announced today that it will allow select brands to be sold onto the platform of Amazon from this fall. The platform of Amazon is an ideal opportunity for expansion since according to a Wells Fargo report Amazon has taken the throne from Walmart as the top apparel seller in March. The sales of apparel and footwear incremented by 15% in 2020 and is 20%-25% above rival Walmart valued at $41 billion.

    DBGI stock had previously announced that it had entered into a non-binding agreement with an elevated basics brand known as stateside. The company had announced on 15th June 2021, that intends to enter a binding agreement within 30 days for acquisition which will be done through a transaction of cash and equity to Stateside. The main strategy for this acquisition is to fortify their vision of expansion since their IPO for growing brand portfolios.

    Stateside is a Los Angeles-based company that has already a well-established network of local manufacturing through the community of Los Angeles. DBGI stock’s aim was to expand into an omnichannel and create its own channel of distribution as well as manufacturing.

  • Why Rite Aid Corporation (RAD) stock is gloomy today?

    Rite Aid Corporation (RAD) stock announced fiscal operating results for the first fiscal quarter ended May 29, 2021, after which the RAD stock price saw a downtrend of 12.06% to drop at $17.93 a share at the time of this writing. Rite Aid Corporation is operating as a chain of retail drug stores in the United States through its subsidiaries. Let’s discuss the recent events in detail.

    First Quarter Results:

    • Rite Aid Corporation generated $6.16 billion in revenue from its continuing operations in the reported quarter which is $0.13 million higher than the same period of the prior year. The Retail pharmacy segment caused increase growth sales while sales from shrank in the reported quarter.
    • RAD suffered a net loss of $13.1 million, or $0.24 per share in the first quarter which is significantly lesser than the $72.7 million, or $1.36 per share in the same quarter of last year.
    • RAD stock reported Adjusted EBITDA of 138.9 million or 2.3% of revenues from its continuing operations as compared to $107.4 million or 1.8% of revenues reported in the same tenure of the previous year.
    • Revenues from the retail pharmacy segment from the continuing operations were 5.5% higher than the same period of the prior year and adjusted EBITDA from the continuing operations reached $94.9 million in the reported quarter from $63.0 million in the same quarter of last year.
    • RAD stock’s revenue from the pharmacy segment services reduced by 5.3% in the first quarter to drop at $1.9 billion while adjusted EBITDA of $44.0 million from continuing operations was flat to the previous year’s first quarter.

    Fiscal 2022 Outlook:

    • RAD stock projected its revenues for fiscal 2022 to be between $25.1 billion and $25.5 billion.
    • Rite Aid’s pharmacy segment revenue is estimated to be in the range of $7.9 billion and $8.0 billion.
    • Net loss for the RAD stock is estimated between$138 million to $175 million.
    • RAD stock anticipated adjusted EBITDA between $440 million and $480 million.
    • Net loss between $0.24to $0.79 is estimated by the RAD stock for fiscal 2022.
    • $300 million capital expenditures for the RAD stock are estimated for fiscal 2022.

    Conclusion:

    Though the financial results for the first quarter of the RAD stock improved over the year however it seems that investors are not happy with the outlook for fiscal 2022. In a nutshell, investors need to know the nitty-gritty of the stock before making any decision.

  • Staffing 360 Solutions, Inc. (STAF) stock is Popping High: What’s Going on?

    Staffing 360 Solutions, Inc. (STAF) stock announced improved anticipated second quarter 2021 financial results after which the STAF stock price saw an uptrend of 14.46% to reach $0.69 a share as of this writing. The stock went high by 1.62% at the previous closing. Let’s check out the recent events in detail.

    Second Quarter 2021 Anticipated Financial Results:

    Based on eleven weeks’ good performance through the mid of June in its three operating segments, the STAF stock anticipates revenue growth of 20% over the year which fulfills the growth estimate previously announced in the first-quarter conference call. 20% anticipated gross profit for the second quarter of 2021 is reported today which is also aligned with the previous estimate.

    The anticipated revenue for the second quarter is more than $52 million and $457,000 operating profit is reported as compared to $1.5 million loss second quarter of 2020. STAF’s gross profit recovery and its cost-saving initiatives have driven the gross profit growth. The operating expenses are anticipated to be $8.2 million in the second quarter of 2021 as compared to $9.0 million in the same quarter of 2020.

    Materially Reduced Interest Expense:

    The completion of interest raises in December 2020, February 2021, and April 2021 has materially reduced the interest expense on the income statement of STAF stock. The interest charge of $2.4 million reported in the first quarter of 2020 reduced to $1.2 million in the first quarter of 2021. Similarly, the $2.1 million interest charge reported in the second quarter of 2021 reduced to $1.1 million in the second quarter of 2021. This means the interest charges were reduced by 50% in the first six months of 2021. Consequently, the STAF stock expects positive net income for the second quarter of 2021.

    Loan Forgiveness:

    Staffing stock recently received the notification from small business administration according to which $10 million PPP loan has been forgiven to the Monroe Staffing Services, LLC, which is an indirect subsidiary of STAF stock. Staffing 360 Solutions has applied for the forgiveness of additional PPP loans of $9.4 million and is optimistic that the stock would get the forgiveness for the remaining loans.

    Conclusion:

    Investors are responding to the anticipated second quarter 2021 financial results announced by STAF stock today. The COVID-19 pandemic had badly affected the business, but stock is now in the recovery phase after various cost-saving initiatives. STAF stock cumulative debt reduced to 55% in the last 12 months in which $10 million loan forgiveness is also included. Though the penny stock is improving its balance sheet, still investors need to cautious before adding this stock to their portfolio.

  • How Come Pieris (PIRS) Stock Is Rallying This Morning?

    Shares of Pieris Pharmaceuticals Inc. (PIRS) were up 6.22% in early trading today at $3.76. Pieris Pharmaceuticals dipped 4.12% or $0.14 as shares closed at $3.54 last session. PIRS stock traded between $3.39 and $3.56 during the day. There were 1.84 million shares exchanged, below the company’s average daily volume of 11.94 million.

    The PIRS stock has rallied 8.26% over the past 12 months, and it has increased 2.02% over the last one week. PIRS stock price has increased by 27.34% over the past six months, and by 41.60% over the past three months. With federal authorities giving orphan drug status to one of its drugs, PIRS stock has been rising.

    PIRS has received approval for what?

    Pieris develops medicines utilizing the latest approaches in protein engineering combined with deep expertise in molecular mechanisms behind the disease. The medicines from PIRS produce superior outcomes for patients by driving local biology. Among the pipeline products of PIRS are inhalable Anticalin proteins to treat respiratory disorders and locally-activated bispecifics to target immune-related diseases. Anticalin proteins, the proprietary property of PIRS, are a class of therapeutics that have been validated clinically and through partnerships with leading pharmaceutical companies.

    Cinrebafusp alfa (PRS-343) received the medical designation of an orphan drug from the US Food and Drug Administration (FDA), announced Pieris.

    • This bispecific treatment will target both gastric cancers with HER2-high and HER2-low expression.
    • It is poignant that PIRS cinrebafusp alfa has been granted orphan drug designation because of the significant unmet medical needs associated with gastric cancer.
    • Furthermore, the study reaffirms PIRS’ conviction that the program needs to be implemented while setting high success goals to help patients with limited options in treatment.
    • Later this summer, PIRS plans to begin the second phase of the cinrebafusp alfa trial.
    • FDA grants orphan drug designation to drugs that target conditions that affect 200,000 or fewer US patients each year.
    • Cinrebafusp alfa’s Orphan Drug Designation will provide development as well as commercial incentives to PIRS.
    • PIRS will enjoy assistance from FDA for the design of clinical trials, tax credits for qualified clinical trials as well as waivers of application fees as part of this designation.
    • Additionally, it will grant PIRS a seven-year market exclusivity following FDA approval for the development and commercialization of cinrebafusp alfa.

    PIRS’ further plans:

    Pieris (PIRS) is actively pursuing a phase 2 study of cinrebafusp alfa following the positive phase 1 results, which indicate that the therapy is a single agent with a mechanism of action related to 4-1BB. For that phase, PIRS will combine cinrebafusp alfa with ramucirumab and paclitaxel for treating HER2-high expression gastric cancer and tucatinib for treating HER2-low expression gastric cancer.

  • What Brought The Cybernetic (HPIL) Stock Down 8%?

    Cybernetic Technologies Ltd (OTCPk:HPIL) closed the last trading session at $0.0043 after being down -8.51%which brought its market cap down to $2.61M. Cybernetic stock traded 1.11B shares recently, greater than its average daily volume of 317.57M. Additionally, HPIL stock has traded between $0.0037 and $0.0054 on the day. There are 8.94B outstanding shares vs. 7.00M float for pink sheets. HPIL stock fell despite its plans for electric vehicles.

    What was HPIL’s electric vehicle plan?

    In addition to developing projects with cutting-edge technology, Cybernetic is a worldwide diversified company. HPIL is a Canadian technology company specializing in technology development. HPIL offers GAMEZCASH and TUNEZCASH, which are used as currencies in esports/gaming and online music businesses. As of May 2021, HPIL is now known as Cybernetic Technologies Ltd., having previously been known as HPIL Holding.

    “APOGEE D7” is the name of the vehicle that Cybernetic has decided to develop with L Ferrox Tutinean and Apogee Dynamics Ltd.

    • HPIL plans to introduce a 4-seater vehicle that uses the new Apogee powertrain as well as having as many as 10 partners.
    • Each HPIL partner will use DISRUPTIVE business models that challenge current automotive business models in Technology, Green, Materials, and Media.
    • HPIL’s vehicle will bear the imprint of all its partners and will function as a result of their efforts.
    • As part of HPIL’s efforts, the Apogee D7 website is planned to be completed within 45 days.
    • Cybernetic and a group led by Mr. Tutinean have launched Apogee Dynamics Ltd, a company in which HPIL owns a majority stake.
    • This ground-breaking technology was developed by Mr. Tutinean, who has an impressive background with the US Navy and Marine Corps that spans a combined 22 years.
    • Tutinean is a member of MENSA, an organization in which only 2% of the population is eligible.
    • HPIL named Mr. Tutinean as the President of Apogee Dynamics Ltd.

    HPIL’s other developments:

    This month, Cybernetic (HPIL) announced it had acquired World Gaming Group Inc, that has been doing blockchain projects for the past 18 months, and that has developed a new currency for gaming and music markets. Furthermore, Stephen Brown, CEO of HPIL, announced that monthly shareholder meetings will continue at 2:00 PM PST on July 2, with hope for much greater insight for HPIL and an even more organized event.

  • Why Bed Bath & Beyond Inc. (BBBY) stock is climbing today?

    Shares of the Bed Bath & Beyond Inc. (BBBY) stock were rising in the per market today on June 24, 2021, following the news that Bed Bath & Beyond launched Wild SageTM, the fifth private brand this year. The BBBY stock price saw a rise of 5.97% to reach $31.06 a share as of this writing. The stock was bullish in the previous trading session and went up by2.27% at closing. Let’s deep dive to explore more of it.

    What’s Happening?

    Bed Bath & Beyond Inc, founded in 1971, is a retail seller of merchandise products. The stock on June 23, 2021, launched  Wild SageTM brand which consists of a wide variety of décor, bedding, furniture, and bathing products for adults. Without compromising the quality, the products are available at reasonable prices. Bedding prices range from $20 to 80$, the decor is priced from $25 to $200, prices for table linens are between $5 to $25, and $50 to $150 prices are set for furniture.

    Customers can purchase Wild Sage products both offline and online. Customers can purchase their favorite products across the stores of the U.S and Canada through same-day delivery services and BBBY’s omnichannel services that include Buy Online Pick Up In-Store (BOPIS) and Contactless Curbside.

    “Your Story, Your Spaces”: a marketing campaign:

    BBBY stock started a marketing campaign for wild Sage in order to increase brand awareness as well as sales of its products. The campaign will include the DTC print, blog, and video content for social media, email marketing, and paid digital media placement as well as affiliate content. The campaign will promote the Wild Sage Instagram and Tiktok channels via featuring them through social media content.

    BBBY stock’s Future Depends on Financial Results:

    BBBY stock had previously announced that it will release its financial results for the quarter ended May 2021 on June 30, 2021. The stock would get the hype if it announces positive results otherwise it would be in trouble. According to Zack’s estimate, BBBY stock would record $0.08 per share quarterly earnings in the upcoming report which means 104.1% high year-over-year. The revenue is expected to increase by 43.3% to reach $1.87 billion.

    Conclusion:

    Bed Bath stock is enjoying the bullish sentiment after launching of fifth private brand Wild SageTM this year. It seems that the market for apparel retailers is going high so it is expected that the BBBY stock will show good performance in the future. The upcoming fiscal 2021 first-quarter financial results would further decide the fate of the stock. Hence investors should keep an eye on this stock.

  • Why Is Biogen (BIIB) Stock Falling Premarket?

    As of the last check Thursday, Biogen Inc. (BIIB) had fallen -7.50% at $34.00. Last trading session, Biogen stock lost -0.67% as it closed at $371.90. BIIB stock traded between $364.30 and $376.01 during the day. BIIB traded 1.78 million shares, which was in line with its average daily volume of 1.61 million shares over the past 100 days.

    In the last five days, BIIB’s shares declined by -4.96%, while they increased by 33.36% last month. In the current market, BIIB has a price-to-earnings ratio of 19.51, and a price-to-book ratio of 5.29. BIIB stock is falling even after getting a positive status from the US Food and Drug Administration (FDA).

    Why is the BIIB stock falling?

    Biogen is a pioneer in neuroscience that develops, produces, and delivers innovative therapies worldwide for people living with neurological diseases and neurodegenerative disorders, as well as for people suffering from other conditions.

    A pioneer in global biotechnology, BIIB was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray, Walter Gilbert, and Phillip Sharp, who won Nobel Prizes in chemistry. With the introduction of the first approved treatment for spinal muscular atrophy, the BIIB has the leading portfolio of medicines to treat multiple sclerosis. It also commercializes biosimilars of advanced biologics.

    Biogen and Eisai Co. Ltd. have announced that the FDA has approved lecanemab (BAN2401).

    • Lecanemab is an investigational anti-amyloid beta (Aβ) protofibril antibody for the treatment of Alzheimer’s disease (AD).
    • Together, Eisai and BIIB develop and commercialize treatments for AD.
    • As principle developer of lecanemab, Eisai leads the development process.
    • Based on the results of a recently published Phase 2b clinical trial (Study 201), the FDA recently designated lecanemab as a Breakthrough Therapy for Alzheimer’s disease (AD) and mild AD with pathology confirmed by amyloid testing.
    • Lecanemab treatment reduced brain amyloid beta (Aβ) and clinical decline in Proof-of-Concept Study 201.
    • At the highest doses, at least three clinical endpoints and several biomarker measurements showed consistent reductions in clinical decline.

    How BIIB went through this?

    Approximately 1,795 patients with early Alzheimer’s disease have been enrolled in the Clarity AD study, conducted by Eisai and Biogen (BIIB). By the end of September 2022, the study’s primary endpoint should be complete.

    As a Breakthrough Therapy, Biogen (BIIB) will receive more intensive guidance on an efficient development program of Lecanemab, and will be eligible for rolling review and priority review.

  • Aravive Inc. (ARAV) stock surged in the premarket trading hours; here’s why

    Aravive Inc. (ARAV) shares were rising in the premarket trading session, as at the last check the share price of ARAV stock had increased by 25.94% to $6.70. ARAV stock had gained 0.95% while previously closing the trading session at $5.32. The ARAV stock volume traded 0.17 million shares, which was higher than the three-month average volume of 155.29K shares within the past 90 days. In the past year up to date, ARAV stock shed -62.85%, and in the past week however, it moved up by 2.11%. In the past three and six months, the stock went down by -21.88% and shed -15.42% respectively. Furthermore, Aravive Inc. is currently valued in the market at $108.42 million and has 18.07 million outstanding shares.

    What you need to know about Aravive Inc.

    Aravive Inc. is a clinical stage biopharmaceutical company that specifically focuses on discovering and designing treatments for unmet needs of doctors and patients with life-threatening diseases. The company specifically produces treatments designed to halt life-threatening diseases which includes their lead candidate product for the treatment of platinum0resistant recurrent ovarian cancer. This candidate is known as AVB-500 which is a decoy of protein for GAS6-AXL signaling pathway targeting. AVB-500 is in the phase Ib/II of a clinical trial for the ovarian cancer study as well as treatment of negative breast, uterine, pancreatic, lung, urothelial cancers and renal cell carcinoma.

    Another candidate for the blocking of activation of GAS6-AXL signaling pathway is known as AVB-S6 which is a soluble FC fucion protein. ARAV stock has partnered with WuXI Biologics in a strategic collaboration agreement for the development of high-affinity bispecfic antibodies that target fibrosis in patients as well as cancer. The company also partnered with 3D Medicines Inc. in a license agreement for the production of the sole drug substance for the treatment of human oncological diseases in mainland China as well as Hong Kong, Taiwan, and Macau.

    The company was previously registered as Versartis Inc. until October 2019 and is established in Houstan, Texas.

    Positive results with no unexpected finding in the AVB-500 Phase 1b trial

    The AVB-500 had underwent the phase1b/2 study and has recently announced that the phase 1b portion has its results arrived. The results showcase a positive initial interim data the details of which specify the combination of 15mg/kg of AVB-500 dosage with cabozantinib for patients that have advanced stage kidney cancer or otherwise termed as clear cell renal cell carcinoma. The study showcases that AVB-500 had no adverse effects intolerable for the three evaluable patients under observation and have found no unexpected findings.

    The next step of the company is to expand the dosing by registering three more patients for the evaluation of potential of initiating the phase 2 portion of this study. To be further sure, the company will also administer higher doses of AVB-500 for Phase 1b to ensure expected results and reduce deviations from favorable results.

  • GenTech (GTEH) Stock Fell 7% Last Session. How Did That Happen?

    A plunge of -6.67% was recorded for GenTech Holdings Inc [OTCPINK: GTEH], which closed the last session at $0.0014. Volume for GenTech stock, an emerging leader in the high-end Premium Coffee and Functional Foods marketplaces, was 849.05M shares against an Average Volume of 450.76M shares. GTEH stock value during the last 52 weeks has ranged between $0.0002 and $0.0189. GTEH stock has been losing the ground it gained after an acquisition earlier this month.

    GTEH has acquired what?

    GenTech is a publicly traded company that trades under the symbol GTEH. Known as Secret Javas, GTEH’s Coffee Subscription service is one of its high-end products. Additionally, GTEH owns and operates Sinfit Nutrition, a leading functional foods brand offering a broad selection of functional foods.

    GenTech announced that its recently acquired MPB Cookies (also known as MPB Snacks) has now become a part of the Smoothie King product line.

    • Smoothie King currently includes GNC, Circle K, FiveStar, Amazon.com, QVC, Walmart, Canteen, and BodyBuilding.com and this will help MPB will expand its distribution footprint.
    • MPB will participate in Smoothie King’s annual trade show, which takes place on June 24, to start integrating its products into the Smoothie King product line-up.
    • Over 1,000 Smoothie King locations can be found in the United States which has approximately 1,300 locations worldwide.
    • GTEH’s MPB will showcase its current products, as well as next-generation products in development, to the corporate and franchise Smoothie King buyers and owners at the invite-only event.
    • MPB’s products will be available for sampling at Smoothie King, and orders can be placed on site.
    • A lot of MPB’s franchise roll-out will be completed by GTEH in 2021 as a result of this agreement.
    • MPB is an emerging brand for GTEH, and it will thrive at Smoothie King, a rapidly growing outlet for health-conscious and fitness-oriented consumers.
    • GTEH’s Gluten free, high-protein snacks are made by GTEH’s MPB, a gourmet protein cookie company.
    • MPB generated more than $2.7 million in sales over its 42-month history of operation prior to being acquired by GTEH.

    In what ways will GTEH move forward with MPB?

    In addition to offering a tasty, guilt-free snack, MPB’s portfolio of products can be considered a complementary addition to GTEH’s current offerings. This opportunity is extremely well understood by GenTech (GTEH) and has a strong alignment with the company’s existing operations. In order to unlock far greater value, GTEH is planning immediate expansion of MPB’s distribution network and broader and diversified product portfolio.