STOCKS TELEGRAPH

Author: ST Staff

  • Here is why Geron Corporation (GERN) stock pop-up in the after-market on Thursday?

    Here is why Geron Corporation (GERN) stock pop-up in the after-market on Thursday?

    Geron Corporation (GERN) shares surged 19.86% in after-hours on Thursday, June 17, 2021, and close the day at $1.69 per share. Earlier in the morning session, GERN’s stock price remained unchanged. GERN shares have fallen 19.43% over the last 12 months, and they have moved down 5.37% in the past week. Over the past three months, the stock has lost 19.43%, while over the past six months, it has shed 16.07%.

    Publication of IMbark Phase 2 Data

    On June 17, 2021, Geron Corporation published the data from the IMbark Phase 2 clinical trial in the Journal of Clinical Oncology in a paper entitled, “Randomized, Single-Blind, Multicenter Phase II Study of Two Doses of Imetelstat in Relapsed or Refractory Myelofibrosis.” The publication highlights the clinical benefits observed in the study, including symptom response and overall survival, as well as the evidence of disease-modifying activity from biomarker and bone marrow fibrosis assessments.

    Participation in Hematology Association Annual Congress

    Geron Corporation did two poster presentations of new clinical data and analyses related to imetelstat, the Company’s first-in-class telomerase inhibitor, which is now available on Geron’s website as well as to participants of the EHA2021 Virtual Congress.

    The first presentation is Efficacy of Imetelstat is Independent of Molecular Subtypes in Heavily Transfused Non-Del(5q) Lower Risk MDS (LR-MDS) Relapsed/Refractory (R/R) to Erythropoiesis Stimulating Agents (ESA)
    Poster Code: EP910.

    The 2nd one is, Imetelstat Demonstrates an Acceptable Safety Profile in Myeloid Malignancies
    Poster Code: EP1106

    Recent financial results announcement

    On May 10, 2021, Geron Corporation announced its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial results

    • Geron Corporation earned a revenue of $137,000 for Q1 2021 compared to $52,000 for the same period in 2020.
    • The company suffered a net loss of $27.8 million, or $0.09 per share in Q1 2021 compared with $16.4 million, or $0.08 per share, for Q1 2020.
    • Total operating expenses were $28.6 million for the first quarter of 2021 compared to $16.9 million for the same period in 2020.
    • Research and development expenses for the first quarter of 2021 were $21.1 million compared to $10.8 million in Q1 2020.
    • Interest income was $173,000 for the first quarter of 2021 compared to $754,000 for Q1 2020.
    • Net other income was $1.2 million for the first quarter of 2021 compared to net other expense of $44,000 for the first quarter of 2020.

    Inducement Grants

    On April 23, 2021, Geron Corporation granted non-statutory stock options to purchase an aggregate of 220,000 shares of Geron common stock at an exercise price of $1.48 per share as inducements to newly hired employees in connection with the commencement of employment with the Company.

    Conclusion

    The GERN stock surged in the after-hours after the company announced the publication of IMbark Phase 2 Data and GERN can continue its rally on the last day of the week.

  • Broadway Financial Corp. (BYFC) Stock Plummets After Falling Out of Favor with Hedge Funds

    Broadway Financial Corp. (BYFC) Stock Plummets After Falling Out of Favor with Hedge Funds

    Broadway Financial Corp. (BYFC) stock prices were down by a concerning 16.3234% shortly after market trading commenced on June 17th, 2021, bringing the price per share down to USD$2.8199 early on in the trading day.

    Merger with CFBanc Financial

    The company completed its merger with CFBanc Financial Corp., with Broadway Financial Corp. continuing on as the sole surviving entity. Immediately after the execution of the merger, Broadway Bank merged with and into City First Bank of D.C., with the latter surviving as a surviving entity which concurrently changed its name to City First Bank, National Association.

    Private Placement

    Subsequent to the merger, the company completed the sale of 18,474,000 shares of its common stock in private placements with both institutional and accredited investors. The private placements saw the generation of USD$32.9 million in gross proceeds. The combination of the merger and the completion of the private placement has seen a significant increase in the company’s total equity capitalization and growth potential, as well as facilitating increased lending to communities that report low-to-moderate incomes.

    Consolidated Net Loss

    The first quarter of the fiscal year 2021 saw the company report a consolidated net loss of USD$3.5 million, representing a consolidated net loss of USD$0.13 per share. This significant year-over-year increase in net loss is primarily driven by merger related expenses amounting to USD$5.4 million. Of this total, USD$3.4 million were severance and other compensation costs, USD$1.8 million were professional service expenses, and USD$213,000 in costs arising from insurance deals.

    Total Assets

    As of March 31st, 2021, BYFC reported total assets in the amount of USD$479.6 million, a USD$3.8 million decrease from the USD$483.4 million reported as of December 31st, 2020. This year-over-year difference is largely attributable to decreases in cash and cash equivalents, amounting to USD$8 million, and investment securities available-for-sale of USD$675,000. These developments were offset by increases in loans receivable held for investment of USD$2.4 million, deferred tax assets of USD$1.5 million, and USD$1.2 million of other assets.

    Future Outlook for BYFC

    Armed with a solid liquidity position, BYFC is poised to return to its trajectory of success. The company is keen to reverse recent downwards trends in its equity value with the effective allocation of resources. 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.

  • Synaptogenix, Inc. (SNPX) Stock Skyrockets as Latest Potential Target of Reddit-Driven Meme Stock Phenomenon

    Synaptogenix, Inc.(SNPX) stock prices skyrocketed by a massive 20.80% shortly after market trading commenced on June 17th, 2021, bringing the price per share up to USD$10.75 early on in the trading day.

    Meme Stock Phenomenon

    SNPX could be the latest in a series of stocks that have been picked up by Reddit-driven retail investors tat are responsible for the recent resurgence of the meme stock phenomenon. Underdogs with high short interests find themselves fortuitously bolstered as the community of investors continues to target companies without a logical basis for their support. In the absence of recent news or any fundamental developments, companies sometimes on the brisk of collapse find themselves renewed by the sweeping meme stock craze.

    Securities Purchase Agreement

    The up-and-coming biopharmaceutical company recently announced the successful execution of a securities purchase agreement, wherein SNPX hopes to generate gross proceeds in the amount of USD$12.5 million. The private placement financing of common stock and warrants will comprise holistic units, which will be sold off in the placement that will be primarily led by existing institutional shareholders.

    Allocation of Funds

    Capital generated from the net proceeds of the private placement are forecasted to be allocated towards the supporting of the ongoing development of Brystatin-1. The treatment is currently in Phase 2b of a NIH-sponsored Alzheimer’s disease trial, with further research and development being carried out to facilitate new indications.

    Unit Composition

    Each unit being sold in the offering consists of a single share of SNPX’s common stock combined with one warrant, with a combined purchase price of USD$7.547 per unit. The warrants have an exercise date of five years from when they are issued, and are priced at USD$8.51 per share of common stock. The placement was scheduled to close the same day, on June 16th 2021.

    Future Outlook for SNPX

    Armed with a solid liquidity position from their recent offering, SNPX is undoubtedly delighted with the skyrocketing of their equity value despite a stark absence of media coverage of significant motivators of that stock movement. The company is keen to continue its trajectory of success to usher in more organic 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.

  • Creatd, Inc. (CRTD) stock is falling today: Why is it so?

    Creatd, Inc. (CRTD) stock is falling today: Why is it so?

    Creatd, Inc. (CRTD) stock announced the pricing of a public offering of its common stock after which the CRTD stock happened to be red and stock price saw a downtrend of 15.74% a share as of this writing. The stock went high in the previous trading session and closed with a 4.03% gain. Let’s discuss more about the CRTD stock.

    What’s Happening?

    The announcement of a public offering by the Creatd stock is the main culprit behind the falling CRTD stock price. According to the public offering, 750,000 shares of the CRTD’s common stock would be offered at a per-share price of $3.40 which means that the offering would produce roughly$2.6 million in total. Creatd stock might sell 15% or 112,500 additional shares of its common stock via granting the 30-day option to underwriters. After meeting the customary closing conditions, the offering would expect to end on June 21, 2021. The net proceeds are estimated to be approximately $2.4 million after the deduction of underwriting discounts and commissions. The net proceeds would be used for general corporate purposes by the CRTD stock.

    Creatd, Inc to acquire 55% WHE Agency:

    Yesterday on June 16, 2021, CRTD stock did announce that it has signed the memorandum of understanding via its wholly owned subsidiary Creatd Partners for the acquisition of a 55% ownership stake in the WHE agency. $275,000 in cash $660,000 in stock was specified for this proposed transaction. Creatd stock intends to carry out the definitive agreements in the early phase of the third quarter of 2021.

    The memorandum has expanded the corporate strategy of the Creatd stock via the expansion of its tools and resources for creators. According to the management, the acquisition will benefit both companies in terms of revenues, and WHE is expected to contribute more than $1 million in agency-related net revenue in the next year.

    Launch of ‘Fiction’, a Vocal Community:

    About a week ago, Creatd stock made an announcement of launching the new ‘Fiction’ community on vocals.The purpose of this launch is to showcase the imaginative work of creators. Furthermore, the CRTD stock also announced the world’s first crowdfunding book publisher, Unbound as its official supporter of the Fiction community.

    Conclusion:

    The announcement of public offering is the obvious reason for the falling CTRD stock price. Such rises and falls don’t affect the long-term investors who mainly eye on the stock’s fundamentals, balance sheet, and future developments.

  • Why Was The Synlogic (SYBX) Stock Up In Premarket Today?

    Why Was The Synlogic (SYBX) Stock Up In Premarket Today?

    Synlogic Inc. (SYBX) stock was trading up 4.88% in premarket trading at $4.30 as of the last check. Synlogic stock closed yesterday at $4.10, rising 4.59% or $0.18. SYBX stock traded between $3.96 and $4.29 yesterday.

    There were 380.5K shares exchanged in SYBX stock, less than the 0.45 million daily volume average of the company over the last 50 days and less than its 0.82 million volume year-to-date. Incorporating a research partnership for the development of new therapies has increased SYBX stock prices.

    In what therapy is SYBX engaged?

    With Synlogic, the potential of synthetic biology in medicine is unleashed. SYBX develops synthetic biologics of the highest quality that are based on reproducible, modular approaches to microbial engineering that target validated biological principles. The Synthetic Biotics pipeline of SYBX includes products designed to treat metabolic disorders like Phenylketonuria (PKU) and enteric hyperoxia.

    Synlogic It has been announced today that Synlogic is collaborating with Roche on the development of new therapies..

    • The collaboration between SYBX and Roche is to find a new Synthetic Biotic medicine for the treatment of inflammatory bowel disease (IBD).
    • A Synthetic Biotic Medicine addressing undisclosed novel targets in IBD will be developed through collaboration between SYBX and Roche.
    • Roche will be able to explore the potential of a new treatment modality for IBD through its collaboration with SYBX.
    • As the conclusion of the research period approaches, Roche will have the exclusive option of entering into a licensing and collaboration agreement with SYBX for further commercialization and development of the program.

    How will both firms collaborate?

    In addition to advancing innovative science, both Synlogic (SYBX) and Roche provide breakthrough medicines to patients with inflammatory diseases. This collaboration will allow SYBX to develop Synthetic Biotic medicines that are beneficial to patients, as well as expand those efforts into inflammation, which will also address the unmet needs for patients diagnosed with inflammatory bowel disease.

  • Alternet (ALYI) Stock Rose 75%. How Did That Happen?

    Alternet (ALYI) Stock Rose 75%. How Did That Happen?

    The value of Alternet Systems Inc (OTCPINK: ALYI) skyrocketed 74.63 percent to $0.0592 during the last session. In contrast to its average weekly volume of 34.36M shares, Alternet stock saw 145.69M shares traded in yesterday’s session. ALYI stock rose in response to the successful completion of an EV program with a dedicated design team.

    What was that EV initiative?

    Alternet Systems builds a perpetual electric mobility design and production continuum that brings together electric vehicle industry experts. In ALYI’s ecosystems, the first electric vehicle (ReVolt Electric Motorbike) will be launched first and the ecosystem will be designed to support it. Furthermore, the ALYI electric mobility ecosystem is largely concentrated in Africa due to the country’s low per capita transportation.

    Alternet announced today that the dedicated design team from MODUS Applied Innovations has completed a review of its electric motorcycle development program.

    • ALYI completed the review on Friday, June 11, 2021.
    • In support of ALYI’s overall electric vehicle program objectives, MODUS is working with iQSTEL on connected, state-of-the-art electric vehicle technology.
    • Following the completion of the review, the management of ALYI is optimistic that the company will continue with its EV Ridesharing and Self-Drive Rental pilot programs in Africa.
    • As part of management’s preparation for this Friday’s quarterly shareholders meeting, ALYI plans to provide additional information on the company’s overall business plan as well as updates on the EV Rideshare and Self-Drive Rental program.
    • As part of an order, ALYI will deliver 2000 electric motorcycles to Kenya for use in motorcycle taxis (boda).
    • As part of July’s delivery schedule, the rideshare service will undergo a pilot rollout phase.
    • According to estimates, the motorcycle ride-hail market in Africa is worth $4 billion.

    ALYI’s plan going forward:

    ALYI plans to expand its ride-sharing pilot program to include a self-drive rental service as well.

    ALYI plans to rent Electric Motorcycles in Kenya that can be unlocked via a mobile phone app, in much the same way that electric scooter company Bird rents electric scooters in urban areas.

  • Here’s to know why Tian Ruixiang Holdings Ltd (TIRX) stock is Popping high in Pre-Market today

    Here’s to know why Tian Ruixiang Holdings Ltd (TIRX) stock is Popping high in Pre-Market today

    Tian Ruixiang Holdings Ltd (TIRX) stock announced the comprehensive strategic cooperation agreement with Anqing Road Transport Administrative Center of Anhui Province today after which the Tian Ruixiang Holdings Ltd (TIRX) happened to be bullish and saw an uptrend of  12.19% to reach $7.18% a share at the time of this writing. TIRX stock was bearish in the previous trading session and dropped by 5.47% at closing. Let’s check out more about TIRX stock.

    What’s Happening?

    Tian Ruixiang Holdings Ltd, founded in 2010 and based in Beijing, China, is operating as the insurance broker in the People’s Republic of China. The agreement between TIRX and Anqing has been signed on  June 15, 2021, according to which Anqing Road Transport Administrative Center will get the professional risk management services by the Tian Ruixiang.

    The Chief executive officer considered this agreement as a win-win situation for both Anqing city and the TIRX stock. The CEO further added that Tian Ruixiang will continue to cooperate with government entities in order to meet the needs of its customers.

    Previous Activity by TIRX stock:

    On June 08, 2021, TIRX stock did announce the closing of a follow-on public offering the pricing of which was announced previously on June 03, 2021. The offering was intended to sell 4,800,000 units of the TIRX stock at a per-unit purchase price of US$7.50. The initial closing of 2,000,000 units happened on June 02, 2021, between Tian Ruixiang Holdings Ltd (TIRX) and certain institutional investors and the gross proceeds estimated for that closing were $15 million. Each unit consisted of  TIRX’s one Class A ordinary share along with one warrant having an exercise price of $8 per warrant for the purchasing of class A ordinary share of the Tian stock.

    Tian Ruixiang is planning to use net proceeds in the establishment of an information data platform and intelligent customer service system. Furthermore, net proceeds from this offering would also be used in the building of key customers department and research and development activities by the TIRX stock. Part of the proceeds would be used for general corporate purposes.

    Conclusion:

    Tian Ruixiang stock is hot among investors so far due to the announcement of a strategic cooperation agreement with Anqing Road Transport Administrative Center by the TIRX stock. The management is looking forward to expanding its business by seeking further cooperation projects in the future and focused on the improvement of the company’s infrastructure. In a nutshell, investors need to keep an eye on this stock.

  • The Reason Why Tiziana Life (TLSA) Stock Jumped 12% In Premarket?

    Tiziana Life Sciences PLC (TLSA) shares are trading at $2.67in premarket trading today, up 12.18%. Last trading session, Tiziana stock fell -7.03% to $2.38. TLSA stock traded 0.37 million shares, which is below the average daily trading volume of 0.43 million shares over the last 50 days.

    TLSA stock has gained 3.03% in the last five days, but has gained 4.39% over the last month. Following a move of treating Covid-19 in-home, TLSA stock is rising.

    What was the inspiration behind TLSA’s solution?

    A UK biotech company, Tiziana is dedicated to discovering and developing new molecules for treating cancer and immune diseases. Milciclib (a CDK inhibitor) is one of several drugs TLSA is developing, including Foralumab for Multiple Sclerosis, Crohn’s Disease, and COVID-19. Formulab is a fully human second generation anti-CD3 monoclonal antibody developed exclusively by TLSA is currently being studied in clinical trials.

    To achieve further clinical development of foralumab as a nasal spray, Tiziana has submitted a grant to the UK COVID Therapeutics Advisory Panel (UK-CTAP), announced TLSA today.

    • As an innovative “Take Home” therapy for non-hospitalized COVID-19 patients, TLSA’s Formulab is a fully human anti-CD3 monoclonal antibody.
    • The TLSA’s move followed a UK government request for proposals to study home-based therapies that would reduce hospitalizations.
    • It is imperative that Foralumab be further developed in patients with Covid-19 with nasal administration.

    TLSA’s other initiatives include:

    A separate clinical trial is also being prepared by Tiziana (TLSA) in Brazil involving hospitalized patients with COVID-19. A key objective of this study by TSLA is to determine whether patients hospitalized with severe inflammation might benefit from nasally administered Foralumab.

    In addition to the COVID-19 variants identified in South Africa, Brazil, the UK, and India, nasal administration with Foralumab has the possibility of being useful for the treatment of other COVID-19 variants.

  • Viking therapeutics, Inc. (VKTX) Stock Trending Higher Following Successful Phase 1 VK0214 Clinical Trial Results

    Viking therapeutics, Inc. (VKTX) Stock Trending Higher Following Successful Phase 1 VK0214 Clinical Trial Results

    Viking Therapeutics, Inc. (VKTX) stock prices were up by a marginal 0.83% as of the market closing on June 16th, 2021, bringing the price per share up to USD$6.08 at the end of the trading day. Subsequent premarket fluctuations saw the stock rise by a more significant 5.10%, bringing it up to USD$6.39.

    VK0214 Clinical Trial

    The company announced on June 17th, 2021 the results from its Phase 1 clinical trial of VK0214, the unique, orally available small molecule thyroid receptor beta agonist. Having been both single ascending dose and multiple ascending doses, the trial was designed for the development of the treatment for X-linked adrenoleukodystrophy (X-ALD). As per the results of the study, VK0214 demonstrated promising safety and tolerability, as well as a predictable pharmacokinetic (PK) profile. The initiation of Phase 1b of the study of VK0214 in X-ALD patients is set to commence in the upcoming weeks.

    Details of the Study

    The Phase 1 trial was a double-blind, placebo-controlled study of randomized healthy volunteers, with a primary objective of evaluating the safety and tolerability of VK0214 administered orally over the course of 14 days. The evaluation of the pharmacokinetics of the treatment following single and multiple doses was the secondary objective of the study.

    Layout of the Study

    The first portion of the study was designed to evaluate single doses of the treatment, with the second portion seeing the administering of VK0214 once daily to the study subjects for a period of 14 days. Both parts of the study reported subsequent cohorts having received higher doses of the treatment successfully.

    Results of the Trial

    The safety profile of VK0214 was consolidated, with a demonstrated tolerability at all the doses that were evaluated in the study. There were no serious adverse events reported; and no study-related trends were observed for changes in vital signs, gastrointestinal effects, cardiovascular measures, or physical examinations. The treatment demonstrated exposures that were dose-dependent, with no evidence of accumulation subsequent to multiple doses. The half-life of the treatment was also found to be consistent with expected dosing regimens of once a day.

    Peripheral Findings

    Potential pharmacodynamic effects following exposure to the treatment were determined by laboratory assessments that included a lipid panel. The findings indicated exposure to VK0214 resulted in a reduction in LDL-C triglycerides and apolipoprotein B after 14 days of treatment at all dosage levels. While the study wasn’t powered for it, it did achieve statistical significant in many of the observed lipid reductions.

    Future Outlook for VKTX

    Armed with the promising development of its flagship treatment, VKTX is poised to continue its trajectory of success. The company is keen to push for the commercialization and proliferation of VK0214. 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.

  • Is This Why The NCTY Stock Is Falling Premarket?

    As of last check, The9 Limited (NCTY)’s shares were trading at $17.90, down -2.29% in premarket session. The9 stock closed Wednesday’s session at $18.32, down -1.51%. NCTY stock volume stayed at 1.82 million shares, which was lower than the average daily volume of 2.79 million shares in the past 50 days. After announcing a custody account, NCTY stock first rose and then dropped in premarket trading.

    NCTY opened custody accounts with whom?

    China-based online technology company The9 Limited was listed on the Nasdaq in 2004. As a high-tech company specializing in the Internet, The9 strives to diversify.

    The9 announced today that Coinbase Custody will be the custodian of NCTY’s digital assets, including Bitcoin.

    • Coinbase Custody is a wholly-owned subsidiary of Coinbase Global Inc. (Nasdaq: COIN) and a global leader in qualified digital asset custody.
    • NCTY plans to deposit part of its mined cryptocurrencies at Coinbase Custody.
    • To begin, NCTY will deposit 200 Bitcoins into Coinbase Custody’s segregated cold storage accounts, which are business-grade offline cold storage solutions offered by the company.
    • As a fiduciary under New York State Banking Law, Coinbase Custody is qualified to hold money on behalf of its clients.
    • Their client funds have never been lost, even though they store billions.
    • Clients’ digital assets are held in trust for their benefit through their secure custody solution.
    • Coinbase Custody believes it has one of the most comprehensive insurance policies in the industry for protecting online and offline assets, across all of their products.

    NCTY’s digital assets policy:

    The9 (NCTY) plans to deposit more cryptocurrencies into this custody account as more cryptocurrencies are mined. According to NCTY’s risk mitigation and management policies, the remainder of digital assets will be stored in cold wallets.