STOCKS TELEGRAPH

Author: ST Staff

  • Why Did Ascent (ASTI) Stock Drop 18%?

    At the close of the last trading, the share price of developer and manufacturer of state-of-the-art, lightweight, and flexible thin-film photovoltaic (PV) solutions Ascent Solar Technologies Inc (OTCPink: ASTI) plummeted by -17.92% to $0.0142. Ascent stock has performed -30.39% over the last week, compared with -42.28% over the past month. Considering that ASTI has been declining since the start of the month in the absence of news, recent events can be used to provide a more comprehensive understanding of the company.

    How has ASTI been?

    Ascent develops thin-film photovoltaic modules, a type of solar panel that is more rugged and versatile than conventional ones. According to R&D Magazine, ASTI’s Solar modules were among the top 100 innovations in 2010 and 2015. According to TIME Magazine, they were one of the top 50 inventions of 2011. ASTI’s flexible power technology can also be integrated into consumer products and off-grid energy applications, as well as into aerospace applications.

    Ascent recently announced its financial results for the quarter ended March 31, 2021.

    Financial Highlights:

    • Q1 2021 net revenue for ASTI was $165K, up sharply from $4K in the same quarter of 2020.
    • Because of financial constraints and COVID-19, ASTI maintained a largely dormant status for the first nine months of 2020.
    • Despite In spite of the loss from operations, ASTI reported a profit of $1.9 million for the quarter.
    • Net income for ASTI included a substantial gain of approximately $3.6M for extinguishment of the derivative liability associated with outstanding convertible notes resulted in a gain of approximately $3.6M for ASTI, less an interest expense of $562K.
    • ASTI’s cash and cash equivalents have also increased dramatically from a $168K balance in the first quarter of 2020 to $3.7M for the quarter ended March 31, 2021.
    • From March 31, 2020, to March 31, 2021, ASTI’s networking capital turned positive $1.1M from negative $8.4M.
    • As a result, ASTI’s total liabilities have been reduced by $11.2M, going from $27.6M in the first quarter of 2020 to $16.3M at the end of this quarter.

    Other major development:

    Ascent (ASTI) recently announced it has completed delivery of large a contract to supply thin-film modules to high-altitude airships. In addition to further reducing packaging and PV module mass, the HyperLight family of modules has a best-in-class power-to-weight ratio (Specific Power) of over 350 W/kg for a fully laminated product on an airship with integrated customer operations.

    The customer placed this shipment with ASTI as the third and largest order since March 2018. ASTI worked with that customer to minimize the PV module mass and to include in-laminate circuit protection in order to streamline both the integration process and the mass reduction of the module.

  • Did Anything Happen Last Session To Hurt HVBTF Stock?

    As of yesterday’s close, HIVE Blockchain Technologies Ltd (OTCQX: HVBTF)’s market cap was $906.01 after falling -1.45%, which took its share price to $2.3900. Further, HIVE stock traded 1.46M shares below its daily average volume of 4.03M.

    Aside from that, HVBTF stock has traded in a range of $2.3100 to $2.4000 over the past year. According to the pink sheets, HVBTF has 379.12 million outstanding shares vs. 257.33 million float. A growth strategy expansion in Sweden boosted HVBTF stock.

    What is HVBTF doing to expand?

    Since going public in 2017, HIVE Blockchain has been mining cryptocurrency using green energy and implementing ESG strategies. The HVBTF is a fast-growing company in an emerging industry that is bridging traditional capital markets with blockchain technology. In addition to its state-of-the-art green energy-powered data centres in Canada, Sweden, and Iceland, HVBTF continuously produces new digital currencies like Bitcoin and Ethereum. HVBTF has accumulated most of its ETH and BTC coin production since the beginning of 2021, which the company holds in secure storage.

    HIVE last week said it had expanded its Swedish operations with a 4.6 megawatt (“MW”) unit in Robertsfors, Sweden.

    • Thus, the total capacity of HVBTF in Sweden now exceeds 33 MW and its global capacity is now 133 MW.
    • Robertsfors, located in the northern part of the country, houses the HVBTF’s historic ‘Diamond Factory’.
    • The HVBTF continued to invest in cold climate locations that have access to low-cost, green, and renewable energy sources as part of its ESG strategy.
    • While HVBTF has already occupied the first hall of the facility and is preparing for expansion of its data centers with the option of adding more space as it becomes necessary to expand capacity.
    • HVBTF was happy to make a long-term and serious customer a part of the factory.
    • In the blockchain sector, HVBTF has built a solid ESG strategy that has led the way for the industry.
    • HVBTF has been investing in renewable energies only, which is exactly what Robertsfors offers as well.
    • According to HVBTF, several local electric and construction companies have already begun working on the facility.

    How has HVBTF been doing in Sweden?

    In 2018, HIVE (HVBTF) began operating in Sweden, and Executive Chairman Frank Holmes believes that it has been worth the time and dedication to the country. Unlike other companies, which are struggling to find suitable locations for their entry or expansion into Sweden, HVBTF has the option of choosing from several new opportunities that have been presented to it. HVBTF’s reputation for being a reliable operator is strengthened by this achievement.

  • Kaixin (KXIN) Stock Is Rising Premarket – On What Basis?

    At last check, Kaixin Auto Holdings (KXIN) was trading at $2.30, up 7.48% in the premarket session. Kaixin stock closed Monday at $2.14, down -1.38% from the day before. KXIN stock traded for 0.47 million shares, which is lower than the 1.31 million shares traded in the last three months on average.

    KXIN stock fluctuated between $2.07 and $2.1935 during the trading session. KXIN stock has been rising since KXIN announced that it will partner with a leading RV retailer.

    Who is KXIN collaborating with?

    China’s Kaixin Group is one of the most important dealership networks for new and used cars. KXIN, a leading company in China’s used vehicle market, has transformed from a tech-enabled financing platform into a nationwide dealer network that includes both its own and affiliated dealers, leveraging its hybrid business model.

    As announced today, Kaixin and a leading Chinese RV retailer are in talks about exploring the rapid growth of the RV market in China through collaboration and a joint venture.

    • As the leading RV retailer in China, it operates its own RV dealerships and hosts a website for RV owners as well as RV expositions.
    • The Chinese RV market is in the midst of a fast-growing phase, according to KXIN.
    • Over the past three years, the annual RV sales volume grew by 50%, with more than 69,000 RVs sold in 2020.
    • In addition to working together to sell and rent RVs, KXIN and a large RV retailer plan to develop and produce electric RVs.

    Kaixin also just made changes in its board of directors.

    • KXIN made those changes after Joseph Chen resigned from the company’s board of directors with effect from May 9, 2021.
    • As part of his commitment to other business interests, Mr. Chen resigned.
    • KXIN Board appointed Mingjun Lin, Xiaolei Gu, and Deqiang Chen as directors of the Company, effective May 9, 2021.
    • KXIN has appointed Mr. Mingjun Lin as chairman of the Board.
    • As chairman of the Board and a director since Kaixin’s founding, Mr. Joseph Chen is a well-respected member of the company.

    KXIN’s recent acquisition move:

    Recently, KXIN was also granted approval by the NASDAQ Stock Market to acquire 100% of Haitaoche Limited. This approval was granted pursuant to KXIN’s agreement dated December 31, 2020. Kaixin (KXIN) anticipated the Acquisition would close in May 2021 at the latest, provided certain other closing conditions were met, including shareholder approval of the articles of association amendment.

  • How Did FNMA Stocks Stabilize Last Session?

    As of yesterday’s close, Fannie Mae (OTCQB: FNMA) was up 0.88% to $2.2800. In contrast to its Average Weekly Volume of 1.83M, Fannie Mae stock traded for 1.60M shares. The Fannie Mae stock climbed following another GeMS deal.

    What was that program about?

    Millions of Americans have access to affordable mortgages and rent by way of Fannie Mae, the Federal National Mortgage Association. The FNMA partners with lenders across the country to provide housing opportunities to families. FNMA is leveraging its expertise and resources to make home purchasing easier while reducing costs and risk.

    As part of its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program, Fannie Mae priced a $879 million Green Multifamily DUS Real Estate Mortgage Investment Conduit (REMIC) last week.

    • FNMA 2021-M2G marks the seventh Fannie Mae GeMS issuance of 2021.
    • FNMA’s M2G deal is FNMA’s second GeMS deal backed by Green MBS collateral this year and the first deal since 2017 backed entirely by Green Building Certification-recognized collateral.
    • With lower yields, current spread levels, and the availability of competition, FNMA is encouraged with the high demand.
    • FNMA continues to generate positive change through its two green financing products for multifamily buildings, the Green Building Certificate (GBC) program and Green Rewards.
    • FNMA has issued more than 95 billion dollars of Multifamily MBS backed by these products.
    • In addition to offering REMICs backed by Green MBS, Fannie Mae GeMS has resecuritized an additional $12.6 billion through the program.
    • FNMA’s GeMS provides investors with greater geographic diversification and a range of block sizes across the yield curve as DUS MBS, as well as the same rigor and environmental impact.
    • The M2G issuance is in conjunction with FNMA’s 2020 Green Bond Impact Report, which provides a comprehensive look at impacts across Fannie Mae’s multifamily and single-family MBS portfolios.

    FNMA published report on Green Bonds:

    Fannie Last week, Fannie Mae (FNMA) published its annual Green Bond Impact Report. Title of the report was “Our Next Chapter in Green Bond Leadership” that was published to provide insight into the estimated environmental, social, and economic benefits of Green Bonds.

    Multifamily Green Mortgage-Backed Securities (MBS) were issued by Fannie Mae (FNMA) from its first issuance in 2012 through year-end 2020, making it the world’s largest green bond issuer. Within the Fannie Mae GeMS program, Fannie Mae also securitized approximately $11 billion in Multifamily Green MBS.

  • Novan Inc. (NOVN) stock surged in the premarket trading session; here’s why

    Novan Inc. (NOVN) stock surged in the premarket trading session; here’s why

    Novan Inc. (NOVN) has advanced in the premarket trading session by 2.5% to trade at the price of $10.65 at the last check Monday. The NOVN lost -4.42% to complete Monday’s trading session at $10.39. The volume traded was 2.32 million shares. In the past week, NOVN’s shares have dropped by -40.12%, while in the last month they have lost -17.54%. In the past three and six months, the NOVN stock has shed -36.26%, while added 62.34% respectively. Furthermore, Novan Inc. is currently valued in the market at $157.30 million and stood at 15.00 million outstanding shares.

    What is the background of the NovanInc.

    Novan Inc. is a clinical development stage biotech company that specifically focuses on providing therapies and treatment for the unmet needs of the health and patient market. The company specifically focuses on creating a developmental platform for dermatological and oncovirus-mediated disease treatments. The company primarily focuses on creating nitric-oxide based therapies for these treatments. NOVN stock has treatment for acne vulgaris through a topical monotherapy product called SB204. The organization likewise creates SB207, an antiviral item contender for the treatment of outside genital moles. WH602 is a nitric oxide-containing intravaginal gel to treat high-hazard human papilloma infection (HPV). Novan also has treatment of viral skin infections and topical broad-spectrum anti-fungal gel for fungal infections of skin and nails, called SB204 and SB206 respectively. The SB206 can also be used for athlete’s foot and fungal nail infection treatment. WH504, a non-gel detailing item possibility to treat high-hazard HPV; and SB019 for the treatment of SARS-CoV-2. Novan, Inc. has a permit agreement with Sato Pharmaceutical Co., Ltd.; and an essential partnership with Orion Corporation. The organization was fused in 2006 and is settled in Morrisville, North Carolina.

    NOVN stock has closed the offering for its 3,636,364 shares of common stock

    The company has finally closed the offering it had previously made for the public offering price of $11.00 per share and total public underwritten offering of 3,636,364 shares of common stock totaling gross proceeds of $40 million. The grant offering for the underwriter is a 30-day option which allows the purchase of an additional 545,454 shares of its common stock. This offering was solely made by the company and was not the stakes of any other investing party. The offer price depicts a discount of 21% on the last close price of $13.85 on last Wednesday 16th June.

    The company has chosen Cantor Fitzgerald & Co. for purpose of being a book-running manager solely for the offering. For financial advisory of this offering, the company has however chosen ROTH Capital Partners LLC. Novan means to utilize the net continues from the Offering, along with existing money, to finance innovative work program exercises, including getting ready for and looking for administrative endorsement of its item competitor SB206 as a treatment for molluscumcontagiosum. Furthermore, NOVN stock will be making arrangements for the expected commercialization of SB206 and proceeding with innovative work exercises basically identified with its item up-and-comer SB204 as a treatment for skin inflammation Vulgaris, just as for general corporate purposes.

  • How Is The Fennec (FENC) Stock Rallying Premarket?

    As of the last check this morning, premarket trading for Fennec Pharmaceuticals Inc. (FENC) has seen the stock gain 11.31% to $7.38. Fennec stock gained 1.53% last session to conclude the session at $6.63. Volume traded for Fennec stock the last session was 0.15 million shares, which is in line with the average volume of 0.12 million shares traded in the past 50 days.

    Within the last five days, FENC stock prices have declined -0.90%; however, within the last month, they have fallen -2.07%. In the last three months, the FENC stock price has dropped by -4.47%, and so far this year, it is down by -11.01 percent. As a result of approval by the US Food and Drug Administration (FDA), the price of FENC stock has increased.

    The application was for what?

    Fennec is a specialty pharmaceutical company developing PEDMARK as a preventive for pediatric patients suffering from platinum-induced ototoxicity. Furthermore, PEDMARK has been designated an Orphan Drug in the United States, indicating it may have applications in this area. A licensing agreement between FENC and Oregon Health and Science University (OHSU) gives OHSU exclusive world-wide access to intellectual property regarding sodium thiosulfate and its use in chemoprotection. Among other things, this includes the prevention of platinum ototoxicity in humans.

    Fennec today announced that the FDA has accepted for filing the resubmission of its New Drug Application (NDA) for PEDMARK.

    • In the Prescription Drug User Fee Act (PDUFA), November 27, 2021, has been set as the target action date.
    • FENC appreciated FDA’s decision to accept PEDMARK resubmission.
    • In the course of the FDA review process, FENCA committed to closely working with the agency.
    • A significant unmet medical need is met by bringing this treatment to children undergoing cisplatin chemotherapy, a treatment that FENC is committed to providing.
    • As a result of the FDA’s approval, FENC’s PEDMARK is set to become the first FDA-approved treatment to reduce pediatric patients’ ototoxicity caused by cisplatin.
    • Over 10,000 children are estimated to receive platinum-based chemotherapy each year in the United States and Europe.
    • Children who suffer from chemotherapy-induced ototoxicity require lifelong hearing aids based on the dose and duration of treatment.

    FDA approved what?

    The FDA awarded Fennec (FENC)’s PEDMARK Both Breakthrough Therapy and Fast Track Designation. Following receipt of the FDA’s Type A meeting minutes, PEDMARK was resubmitted.

    The NDA was resubmitted on May 25, 2021, following receipt of a Complete Response Letter (CRL) on August 10, 2020. CRL referred to deficiencies in the manufacturing facility of the manufacturer; however, no clinical safety or efficacy concerns were identified, and further clinical data were not needed.

  • Virios Therapeutics Inc. (VIRI) stock plunged in the premarket trading session; here’s why

    Virios Therapeutics Inc. (VIRI) stock plunged in the premarket trading session; here’s why

    In the premarket trading session, at last check, Virios Therapeutics Inc. (VIRI) shares had plunged by -11.65% to trade at $5.99. VIRI stock previously closed the session on Monday to a gain of 12.25% at $6.78. The VIRI stock volume traded 2.49 million shares. VIRI shares have moved up in the past week by 14.72%. In the past three and six months, the VIRI stock has gained 25.09% and shed -59.43% respectively. Furthermore, Virios Therapeutics Inc. is currently valued in the market at $56.82 million and has 8.33 million outstanding shares.

    What you need to know about Virios Therapeutics Inc.

    Virios Therapeutics Inc. is a development stage biotech company that specifically focuses on the design and development of unmet needs of the health and patient market. The company has a platform for developing antiviral therapies that particularly treat viral triggered abnormal immune response and diseases associated with it. Virios is also developing therapies to treat fibromyalgia through a fixed dose of famciclovir and celecoxib combination. The lead development candidate for fibromyalgia treatment is known as IMC-1. The company was initially known as Virios Therapeutics LLC until December 2020 and has its origin based in 2012 with the headquarter in Alpharetta, Georgia.

    Significance of the positive phase2a results in clinical trials of PRID-201

    The company has announced positive results in the Phase 2a clinical trials of PRID-201. The results primarily suggested that the IMC-1 which is being developed by VIRI stock for the treatment of fibromyalgia, has shown better tolerance than placebo in the fibromyalgia patients. IMC-1 is created through the combination of famciclovir and celecoxib and suppresses Herpes Simplex Virus-1 synergistically.

    In the World Congress of International Association for the Study of Pain (IASP) which was held on 9-11 and 16-18 June 2021, Viriospresented a poster presentation of the results and potential of IMC-1. There is a reasonable clinical requirement for new, protected and powerful medicines with the possibility to improve care for the assessed 10 – 20 million FM patients in the U.S. what’s more, in excess of 200 million around the world. Phase 2a clinical preliminary information showed that IMC-1 treated patients had higher in general finishing rates and lower paces of stopping because of unfriendly occasions, as contrasted and fake treatment treated patients. This is a particularly promising outcome when seen behind the scenes of current patient and supplier disappointment with the by and large helpless bearableness of existing endorsed FM medicines.

    IMC‑1 showed an empowering wellbeing profile, as AEs happened at a lower rate and were less serious in the IMC‑1 treatment bunch contrasted and fake treatment. The suspension rate because of AEs was almost 3‑fold higher in patients getting placebo treatment contrasted and patients getting IMC‑1, proposing that treatment with IMC‑1 was surprisingly well‑tolerated. In this examination, IMC‑1 exhibited critical decreases in torment, exhaustion, and other significant indications in patients with FM. These outcomes recommend that IMC‑1 may offer a promising and well‑tolerated choice to treat patients with FM.

  • Code Chain New Continent Limited (CCNC) stock surged in the premarket trading session; here’s why

    Code Chain New Continent Limited (CCNC) stock surged in the premarket trading session; here’s why

    In the premarket trading session, at last check, Code Chain New Continent Limited (CCNC) stock had surged by 6.05% to $2.28. CCNC stock previously closed the session at a loss of -20.66% to $2.15. The CCNC stock volume traded 0.95 million shares. In the past week, CCNC shares have shed -27.85%. In the past three and six months, the CCNC stock has shed -56.57%, while and added 31.90%. Furthermore, Code Chain New Continent Limited is currently valued in the market at $79.18 million and has 32.57 million outstanding shares.

    Here’s what you need to know about Code Chain New Continent Limited

    Code Chain New Continent Limited is a Coking Coal business company that trades and operates in The People’s Republic of China. However, may Chinese firms have this characteristic to have diverse and contrasting portfolios in different industries which does not necessarily make it a conglomerate. CCNC stock also works in the mobile gaming industry through its subsidiaries where it specifically focuses on the development of a game called Wuge Manor, an online multiplayer game that has built-in purchases- therefore making it e-commerce based game that has a code chain platform. This code chain platform access is given to players through vendors and business owners and exists in 100 cities within the Republic.

    The coal business and operations involves the mainstream operations of a full-cycle coal business (from processing and storing of stream coal and iron ore to sales and transportation). Along with the coal business, Code Chain New Continent Limited also runs complimentary business of selling coke, steel and construction materials, steel remains as well as machinery parts.

    The CCNC stock also has a business of purchase and selling of electric tokens that are specifically used for the purchase of virtual properties and assets in real estate. Code Chain New Continent Limited was previously known as TMSR Holding Company Limited until May 2020. The headquarter of CCNC is based in Chengdu in China.

    Code Chain’s joint-venture to create a zero carbon crypto-mining platform

    The company has in the start of the month of June announced collaboration with Zhongyou Technology as a joint venture. As the era is in the inception phase of digital currency and cryptocurrency revolution, there is a massive spike in the crypto mining. However, with the mining comes considerable cause of alarm for the environment and climate due to the carbon footprint emission by the mining of cryptocurrency. This joint venture was agreed upon as a goal to establish and develop a carbon neutral and zero-carbon crypto-mining platform. The joint venture company will be known as “Carbon Zero Renewables (Shenzhen) Co. Ltd. The JV company’s current registered capital is $1 million and has contributed 100% in cash by Code Chain and will own 51% of the company while Zhongyou will own 49%. Furthermore, pursuant to the degree, Zhongyou will provide the teams of technical experts and support staff. It will also be responsible for the ownership of the intellectual property rights and know-how.

  • Atossa Therapeutics Inc. (ATOS) stock surged in the premarket trading session; here’s why

    Atossa Therapeutics Inc. (ATOS) stock surged in the premarket trading session; here’s why

    In the premarket trading session, at last check, Atossa Therapeutics Inc. (ATOS) stock had surged by 2.55% to $6.04. ATOS’s stock previously closed the session gaining 10.09% to $5.89. The ATOS stock volume traded 14.72 million shares. In the past week, ATOS shares have moved up by 27.49%. In the past three and six months, the ATOS stock has jumped up by 135.60%, and 584.72% respectively. Furthermore, Atossa therapeutics Inc. is currently valued in the market at $711.65 million and has 120.82 million outstanding shares.

    Here’s what you need to know about Atossa Therapeutics Inc.

    Atossa Therapeutics Inc. is a clinical-stage biopharmaceutical company that focuses on the developing and designing of unique innovative treatments and medicines for the unmet needs of the health market. The company specifically focuses on the platform of development and design of medicines for the areas of oncology and infectious disease.

    The company has created programs to fight breast cancers, improve lung functions and has therapy programs as well for the treatment of cancers. The lead candidate program is known as Endoxifen for breast cancer treatment which is in Phase II of clinical trials and is a metabolite of tamoxifen. AT-H201 and AT-301 are proprietary drugs used for the treatment and recovery of lung function in COVID19 patients. ATOS stock also participates and supports research for treatments like potential treatment of breast cancer through cytokine-coated nanoparticles in partnership with Dana-Farber Cancer Institute Inc. Furthermore, the company was previously known as Atossa Genetics Inc up till January 2020 and is founded in 2008. The Atossa headquarters is in Seattle Washington.

    How has Atossa’s operations been doing lately?

    The month of June has been very progressive and successful for ATOS stock and Atossa’s clinical study operations. On 16th June 2021, the company was announced to be part of the Russell 2000 and Russell 3000 Indexes. Atossa is primarily focusing on Breast cancer and COVID19-related treatments. There is a preliminary list of additions that were posted on 4th and 14th June 2021, informing that the official integration will be concluded on 2021 Russell Indexes’ annual reconstitution. The implementation will be effective after US market opens on June 28, 2021.

    On 11th June 2021, ATOS stock received approval from the Swedish Medical Product Agency (MPA) which encourages the initiation of Endoxifen’s second phase clinical trial study. Endoxifen will be used for the treatment and reduction of mammographic breast density (MBD) which is affecting more than 10 million women in the US and scattered across the globe. Increased mammographic breast density results in the difficulty of detecting cancer and increases the development of breast cancer risk.

    Furthermore, Atossa Therapeutics announced the final data of the phase 2 study of oral Endoxifen. This study was used to test the efficacy and safety of the administration of the dose between the time of diagnosis of breast cancer and surgery. The primary endpoint met result showed Ki-67 reduction by an average of 25.6% and has shown clinically meaningful results because these statistics according to to other studies showed a result of improved survival rate.

  • What Is Boosting Pyxis (PXS) Stock 11% In Premarket Trades?

    Shares of international maritime transportation company focused on the product tanker sector Pyxis Tankers Inc. (PXS) are up 11.19% after hours. Pyxis shares closed the last session at $0.90, up 6.36% or $0.03. PXS shares traded between $0.8302 and $0.9299.

    A total of 2.18 million shares of PXS stock were exchanged, exceeding the company’s 50-day daily volume of 1.29 million and its Year-to-date volume of 1.88 million. PXS stock has declined 11.09% over the past 12 months, and it has gained 0.40% over the last week.

    PXS stock has gained 11.04% over the last six months and decreased by -30.82% over the last three months. Since the beginning of this year, PXS shares have returned 8.37%. A NASDAQ notice requesting compliance has been weighing on the value of PXS stock.

    How has Nasdaq notified PXS?

    Pyxis transports refined petroleum products and other bulk liquids by sea in a modern fleet of five tankers. PXS is seeking to expand its fleet of medium-range product tankers, which offer operational flexibility and enhanced earnings potential through their “eco” features and modifications. As a result of its competitive cost structure, strong customer relationships, and a management team whose interests align with those of its shareholders, PXS is in an advantageous position to expand and maximize the value of its fleet.

    In a letter dated June 16, 2021, Pyxis has been notified by Nasdaq to comply the requirements to continue listing on the Nasdaq stock market.

    • Nasdaq notified PXS that its common shares closed the trading at a price below $1.00 for 30 consecutive business days, which is requirement for continued listing on Nasdaq (the “Minimum Bid Price Requirement”).
    • The “Compliance Period” for PXS ends on December 13, 2021, so it has until then to become compliant with the Minimum Bid Price Requirement.
    • If the closing bid price of PXS’s common shares is $1.00 per share or higher for at least ten consecutive business days during the Compliance Period, the deficiency can be rectified.
    • In order to maintain compliance with the minimum bid price requirement within the Compliance Period, PXS is evaluating all available options, including the reverse stock split.
    • Pyxis will continue to list and trade its common shares on Nasdaq Capital Market through this period, and the notice will not affect Pyxis’ business operations.

    What if PXS still failed to comply?

    Pyxis (PXS) may be eligible for an additional 180 calendar day compliance period if it is not able to regain compliance during the notified compliance period. PXS shares may be delisted by Nasdaq if the exchange determines that PXS will not be able to cure the deficiency or if PXS is otherwise not eligible.