STOCKS TELEGRAPH

Author: ST Staff

  • Zosano Pharma Corp. (ZSAN) Stock Trending Undergoes Minor Volatility Despite Promising Debt Management

    Zosano Pharma Corp. (ZSAN) Stock Trending Undergoes Minor Volatility Despite Promising Debt Management

    Zosano Pharma Corp. (ZSAN) stock prices were down by 3.77% as of the market closing on June 15th, 2021, bringing the price per share down to USD$1.02 at the end of the trading day. After-hours trading saw the stock fall by another 5.54%, bringing it down to USD$0.96.

    Importance of Debt

    Debt is bad for bad companies; but for good companies, debt is a tool that they can use to help them grow. The underlying assumption is the ability to pay off lenders, without the company carries immense inherent risk. Without a guarantee of the fulfillment of their legal obligations, shareholders could lose the entirety of their investments. Even it doesn’t come to the worst-case scenario, the shoring up of balance sheets could result in a dilution of company shares with the issuance of offerings to raise capital. Ideally, a company takes on dilution in the hopes of using that capital to reinvest and usher in growth that exceeds that dilution, otherwise taking on debt could be a cheaper option.

    Solid Liquidity Position

    As of March 2021, ZSAN reported USD$1.63 million in debt, as compared to not having any debt as of the March of the prior year. This debt is offset by a solid liquidity position of USD$26.9 million, resulting in net cash reserves of USD$25.3 million.

    Debt Safety

    ZSAN’s most recent balance sheets show liabilities in the amount of USD$14.4 being due over the course of the following 12 months, with liabilities of USD$8.15 million due beyond that. In conjunction with cash reserves of USD$26.9 million, the company reported USD$243,000 worth of receivables due over the year. Resultingly, ZSAN boasts liquid assets that amount to USD$4.57 more than total liabilities.

    Course of Action

    This comfortable ratio indicates a relatively conservative balance sheet, with the elimination of debt not seeming too difficult. With the safety of its debt assured, owing to the surplus of cash over debt, the company’s future earnings will dictate what course their balance sheet takes moving forward. In the absence of significant operating revenue, investors rely on the hope of hasty commercialization of ZSAN’s new medical technology.

    Future Outlook for ZSAN

    Armed with a solid liquidity position and very manageable debt, ZSAN is poised to continue its trajectory of success. The company is keen to usher in further growth with the effective allocation of capital and debt. 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.

  • What could be the reason behind Midatech Pharma plc (MTP) stock turnaround on Tuesday?

    What could be the reason behind Midatech Pharma plc (MTP) stock turnaround on Tuesday?

    Midatech Pharma plc (MTP) shares jumped 9.5% in after-market on Tuesday, June 15, 2021, and close the day at $2.19 per share. Earlier in the morning session, MTP’s stock lost 3.85% to close Tuesday’s session at $2.00. MTP shares have risen 40.85% over the last 12 months, and over the past three months, the stock has lost 13.04%, while over the past six months, it has added 2.19%.

    Let’s discuss MTP news and developments briefly.

    Upcoming investor webinar

    Midatech Pharma PLC will be hosting an investor webinar focused on the Company’s various R&D programs at 2.00 pm BST 9.00 am EST on 17 June 2021.

    Publishing of Annual Report & AGM schedule

    On May 21, 2021, Midatech Pharma PLC posted its Notice of Annual General Meeting (“AGM”) to shareholders, along with the Annual Report for the year ended 31 December 2020. The document is also available on the “Investors” section of the Company’s website.

    The Company will hold the 2021 AGM at its offices at 11.30 am at Oddfellows House, 19 Newport Road, Cardiff CF24 0AA on 30 June 2021.

    Recent financial results

    On April 30, 2021, Midatech Pharma PLC reported its audited preliminary financial results for the year ended 31 December 2020.

    FY 2020 financial highlights

    • Midatech Pharma reported total gross revenue of £0.3million compared to£0.7 million in FY 2019.
    • Research and development expenses were £6.1 million for FY 2020 compared to £7.8 million for FY 2019.
    • As of December 31, 2021, the company had cash and deposits of £7.5 million compared to £10.9 million on December 31, 2019.
    • The company suffered a net loss of £22.2 million from continuing operations in FY 2020 compared to a £9.1 million loss in FY 2019.

    MTX110 Update

    OnMarch 25, 2021, Midatech Pharma PLC agreed on non-binding Heads of Terms for the co-development of MTX110.

    Earlier on 26 January 2021, Midatech engaged in tentative discussions with a third party around the potential co-development of MTX110. These discussions have now advanced and a non-binding Heads of Terms has been agreed, which stated that the Company would expect to receive a modest upfront payment upon execution, success-based development, and sales milestones and royalties if the deal progresses to definitive agreements.

    Warrant’sexercise and Issue of Equity

    On February 17, 2021, Midatech Pharma PLC issued 61,363 American Depositary Shares to certain US investors, representing 306,815 ordinary shares of 0.1p each in the Company. Each ADS represents five ordinary shares. The company will get gross proceeds of $126, from the exercise of these warrants.

    Conclusion

    As of this writing, we are unable to find any recent news or development which could be linked with its turnaround on Tuesday. We are unable to predict how MTP stock will perform in the coming days.

  • AVITA Medical, Inc (RCEL) Stock Surges During After Hours Trading Following Expanded Scope of RECELL System

    AVITA Medical, Inc (RCEL) Stock Surges During After Hours Trading Following Expanded Scope of RECELL System

    AVITA Medical, Inc. (RCEL) stock prices were down by a marginal 0.98% as of the market closing on June 15th, 2021, bringing the price per share down to USD$19.19 at the end of the trading day. After-hours trading saw the stock surge by 15.16%, bringing it up to USD$22.10.

    Improved Q4 2021 Guidance

    The culmination of the fourth quarter of fiscal 2021, ending June 30th, 2021, will see RCEL report total revenue exceeding its previously reported guidance for the same time period. With previous guidance of USD$8.2 million, the end of fiscal 2021 is expected to see the company report USD$8.6 million in total revenues.

    Details of the Revision

    On the basis of the strength of both RECELL commercial revenue and revenue related to BARDA, the company is raising guidance for Q4 to be up in the range of USD$9.5 million to USD$9.7 million.  Of this total, USD$6 million to USD$6.2 million will be from RECELL commercial revenue and USD$3.5 million from RECELL revenue associated with BARDA. RECELL commercial revenue guidance after its revision represents a 55% to 60% increase over the same time period over the prior fiscal year; and a 30% to 34% increase over reports from Q3 2021.

    Recovery through Pandemic

    After a turbulent past year owing to the onset of the global coronavirus pandemic, RCEL’s proprietary RECELL System is seeing a revival. With the slow return of normality to the economy and day-to-day lives of citizens from an extended period of remaining confined, reports of burn accidents have also been on the rise. Burn centers across the country are making use of the RECELL System to treat various degrees of burns in patients.

    FDA Approval of RECELL System

    Another major milestone was the recent announcement that the U.S Food and Drug Administration (FDA) had approved the expanded use of the company’s proprietary RECELL System. The treatment will be used in conjunction with meshed autografting for the treatment of all sizes of acute full-thickness thermal burn wounds, targeting both pediatric and adult patient demographics.

    Expanded Scope of RECELL System

    Following the expansion, RECELL is now a front-running treatment provider for full-thickness thermal burns in patients over the age of 1 month. Before this development, the treatment was only used to facilitate treatment in patients 18 years and older. Furthermore, the new indication allows for the use of the RECELL System to treat full-thickness thermal burns that cover more than 50% of the total body surface area.

    Future Outlook for RCEL

    Armed with the recently expanded scope of its RECELL System treatment and highly promising guidance for the upcoming end of the quarter, RCEL is poised to end the 2021 fiscal year with a bang and usher in a prosperous fiscal 2022. 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.

  • Can Washington Prime Group Inc (WPG) stock do a miracle after filing bankruptcy?

    Can Washington Prime Group Inc (WPG) stock do a miracle after filing bankruptcy?

    Washington Prime Group Inc. (WPG) stock plummeted in the morning session on Tuesday, June 15, 2021, and lost 18.05% and close at $2.77 per share. later in the after-hours, WPG did some recovery and gained 3.61% to close the day at $2.87 per share. WPG shares have fallen 69.83% over the last 12 months, and they have moved down 44.60% in the past week. Over the past three months, the stock has lost 4.81%, while over the past six months, it has plunged 72.02%.

    WPG filed for Chapter 11 bankruptcy

    Washington Prime Group Inc had filed for Chapter 11 bankruptcy on Sunday, June 13, 2021, due to challenges it faced related to the Covid-19 pandemic. Earlier, Washington Prime was able to secure $100 million in new funding to continue operating in the near term which increased hope for its restructuring and emerges from bankruptcy on a more solid financial footing.

    Washington Prime has nearly $3.5 billion, to be specific — and it was on the edge of bankruptcy since missing a $23 million interest payment back in March. By reorganizing under Chapter 11, the company can, ideally, convert some of its debt into equity and extend its loan terms.

    WPG Financial position

    During the first three months of this year, Washington Prime’s rental income reduced roughly $20 million compared with the same time in 2020. Its cash flows from operations for the three months ending in March were $3.3 million, a sharp decline of  $10 million during the same time in 2020.

    Recent financial results

    On May 10, 2021, Washington Prime Group Inc released its financial and operating results for the first quarter ended March 31, 2021.

    Q1 2021 financial results

    Washington Prime Group suffered a net loss of $55.4 million, or $2.52per diluted share in Q1 2021, compared to net income of $3.4 million, or $0.16 per diluted share in Q1 2020.

    During the first quarter, the Company recorded a non-cash charge of $12.1 million to interest expense upon its discontinuation of hedge accounting effective January 1, 2021. There were no such charges during the same quarter a year ago.

    For the reported quarter, FFO was $3.7 million, or $0.15 per diluted share, which compares to $49.7 million, or $1.99 per diluted share, in Q1 2020.

    WPG facing several lawsuits and class actions

    Many reputable law firms have filed lawsuits and class actions against the WPG group which is creating more problems for the company.

    According to the Rosen Law Firmlawsuit, defendants made false and/or misleading statements and/or failed to disclose that Washington Prime Group’s financial condition was deteriorating substantially. as a result, there was substantial uncertainty about the Company’s ability to meet its capital structure obligations.

    The Gross Law Firm also announced class action against WPG on behalf of certain shareholders in Washington Prime Group, Inc.

    Conclusion

    The WPG groups had filed the bankruptcy recently and the company’s future is uncertain. WPG plunge on Tuesday makes sense but its recovery in the after-hours has no grounds at all.

  • Here is why X Financial (XYF) stock performed well on Tuesday?

    Here is why X Financial (XYF) stock performed well on Tuesday?

    X Financial (XYF) shares surged 3.39% in after-market on Tuesday, June 15, 2021, and close the day at $8.55 per share.  XYF’s stock gained 0.61% to close Tuesday’s session at $8.27. XYF shares have risen 182.68% over the last 12 months, and they have moved up 26.84% in the past week. Over the past three months, the stock has gained 138.33%, while over the past six months, it has added 236.18%.

    Let’s see is there any news or development about XYF?

    Recent financial results

    On June 15, 2021, X Financial announced its unaudited financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • X Financial reported net revenue of 3 million(US$138.3 million) in Q1 2021, compared to RMB529.0 million in Q1 2020.
    • Total cost and expenses were $655 million in Q1 2021 compared to $659 million in Q1 2020.
    • For Q1 2021, operating income was RMB251.2 million(US$38.3 million), compared to an operating loss of 0 million in the same period of 2020.
    • For the reported quarter, Net income attributable to X Financial shareholders was 8 million(US$29.4 million), compared with a net loss attributable to X Financial shareholders of RMB196.3 million in the same period of 2020.
    • Net income per basic and diluted American depositary share (“ADS”) in the first quarter of 2021 was RMB3.54 (US$0.54) and RMB3.48 (US$0.53), compared with net loss per basic and diluted ADS of RMB3.66 and RMB3.66 in the same period of 2020.
    • As of March 31, 2021, cash and cash equivalents was 8 million(US$122.1 million), compared with RMB746.4 million as of December 31, 2020.

    Online Microcredit Business Operating License

    On May 26, 2021, X Financial announced that Shenzhen Xiaoying Technology Co., Ltd. (“Shenzhen Xiaoying”), a VIE of the Company, has received a letter from the Local Financial Regulatory Bureau of Shenzhen Municipality on May 12, 2021, stating the approval of the business qualification of Shenzhen Xiaoying Microcredit Co., Ltd. (“Xiaoying Microcredit”) which is an entity to be established to operate microcredit business.

    New appointment

    On May 24, 2021, X Financial appointed Mr. Shaoyong (Simon) Cheng as the Vice Chairman of the Board of Directors and has resigned as President of the Company with effect from May 24, 2021, and that Mr. Kan (Kent) Li has been appointed as President of the Company with effect from May 24, 2021.

    Mr. Shaoyong (Simon) joined X financial in 2015 and has served as the company director since December 2017. Mr. Cheng served as company President starting from October 2017. Mr. Cheng served as our Chief Risk Officer from 2015 to 2017.

    Conclusion

    Yesterday XYF announced its financial results for Q1 2021 which are much improved and hence XYF performed well on Tuesday. XYF can continue its momentum on Wednesday as well.

  • Why Xcel Brands Inc. (XELB) stock turnaround in Tuesday’s after-market?

    Why Xcel Brands Inc. (XELB) stock turnaround in Tuesday’s after-market?

    Xcel Brands Inc. (XELB) stock started Tuesday, June 15, 2021, trading by losing 10.82% and close the session at $2.06 per share. in the after-hours XELB stock gained 15.54% and close the day at $2.38 per share. XELB shares have risen 100.00% over the last 12 months, and they have moved down 12.71% in the past week. Over the past three months, the stock has gained 7.85%, while over the past six months, it has jumped 98.08%.

    Inauguration on Russell Microcap Index

    On June 11, 2021, Xcel Brands, Inc announced to join the Russell Microcap® Index after the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, according to a preliminary list of additions posted June 4, 2021.

    New appointments

    On June 1, 2021, Xcel Brands, Inc appointed Heather Bogen as the President of Wholesale Apparel. Bogen will support Xcel Brands’ successful acquisition of dynamic consumer lifestyle brands through her extensive expertise in the fashion industry.

    Recent financial results

    OnMay 17, 2021, Xcel Brands, Inc released its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Total revenue was $7.8 million for Q1 2021, compared to $9.5 million for Q1 2020.
    • Gross profit was $5.9 million in Q1 2021 compared to $7.1 million in Q1 2020.
    • For Q1 2021, net loss attributable to Xcel Brands was approximately $2.5 million, or $0.13 per diluted share compared with a net loss of $0.8 million, or $0.04 per diluted share, for the prior-year quarter.
    • Adjusted EBITDA was approximately $0.9 million for Q1 2021 compared to $0.7 million for the prior year quarter.
    • As of March 31, 2021, the company had cash and cash equivalents of approximately $3.0 million, and working capital, exclusive of the current portion of lease obligations, of approximately $6.5 million. 

    FY 2020 financial results

    On April 21, 2021, Xcel Brands, Inc released its financial results for the fourth quarter ended December 31, 2020.

    FY 2020 financial highlights

    • For FY 2020, total revenue was $29.4 million compared to $41.73 million for FY 2019.
    • Net loss attributable to Xcel Brands was approximately $12.9 million, or $0.68 per diluted share in FY 2020, compared with a net loss of $3.4 million, or $0.18 per diluted share, in FY 2019.
    • Adjusted EBITDA was approximately $4.1 million for FY 2020 compared to $7.1 million for the prior year.
    • As of December 31, 2020, the company had cash and cash equivalents of approximately $5.0 million, and working capital, exclusive of the current portion of lease obligations, of approximately $7.9 million. 

    Conclusion

    Well, as of this writing there is no reason which could justify its turnaround on Tuesday. We hope that XELB will continue its positive momentum in the remaining week.

  • Why Catabasis Pharmaceuticals Inc (CATB) stock surged in the after-market on Tuesday?

    Why Catabasis Pharmaceuticals Inc (CATB) stock surged in the after-market on Tuesday?

    Catabasis Pharmaceuticals Inc. (CATB) shares soared 29.9% in after-market on Tuesday, June 15, 2021, and closed the session at $2.65 per share. Earlier in the morning session, CATB’s stock lost 3.32% to close Tuesday’s session at $2.04 per share. CATB shares have fallen 69.82% over the last 12 months, and they have moved down 5.56% in the past week. Over the past three months, the stock has lost 42.70%, while over the past six months, it has declined 7.69%.

    Let’s see is there any recent news or development about CATB?

                Participation in the investor conferences

    • Catabasis Pharmaceuticals Inc recently participated in the Jefferies Virtual Healthcare Conference which held on June 3, 2021.
    • The company also took part in Oppenheimer Rare and Orphan Disease Summit which held on May 21, 2021.
    • At both conferences, the company was presented by Chief Executive Officer Jill C. Milne.

    Recent financial results

    On May 14, 2021, Catabasis Pharmaceuticalsreported financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • For Q1 2021, research and development expenses were $2.6 million compared to $5.3 million for the three months ended March 31, 2020.
    • General and administrative expenses were $2.9 million for Q1 2021 compared to $2.8 million for Q1 2020.
    • Operating loss for Q1 2021 was $170.1 million compared to $8.0 million for Q1 2020.
    • The company suffered a net loss of $170.1 million, or $7.60 per share, for the three months ended March 31, 2021, compared to a net loss of $8.0 million, or $0.50 per share, for the three months ended March 31, 2020.
    • Catabasis had cash, cash equivalents, and short-term investments of $146.9 million on March 31, 2021, compared to $44.9 million as of December 31, 2020.

    Q4&FY2020 financial results

    On March 12, 2021, Catabasis Pharmaceuticals released its financial results for the fourth quarter and full-year ended December 31, 2020. 

    Q4 2020 financial highlights

    • Catabasis had cash, cash equivalents, and short-term investments of $44.9 million on December 31, 2021, compared to $52.9 million as of September 30, 2020.
    • For Q4 2020, Research and development expenses were $5.7 million compared to $4.3 million for Q4 2019.
    • General and administrative expenses were $3.2 million for Q4 2020 compared to $2.5 million for the three months ended December 31, 2019
    • Operating loss was $9.0 million for Q4 2020 compared to $6.7 million for Q4 2019.
    • Catabasis suffered a net loss of $9.0 million, or $0.45 per share in Q4 2020 compared to a net loss of $6.6 million, or $0.55 per share, for the three months ended December 31, 2019.

    FY-2020 financial highlights

    • Research and development expenses were $25.6 million for the full year 2020, compared to $18.3 million for the full year 2019.
    • For the full year 2020, general and administrative expenses were $11.9 million compared to $8.8 million for the full year 2019.
    • For FY 2020, operating loss was $37.4 million compared to $27.1 million for the full year 2019.
    • Catabasis suffered a net loss of$37.3 million, or $2.03 per share, for the full year 2020, compared to $26.3 million, or $2.35 per share, for the full year 2019.

    Conclusion

    Well, as of this writing there is no recent news or development so the CATB stock surge is a bit strange.

  • Here is why Forward Industries Inc. (FORD) stock surged in the after-hours on Tuesday?

    Here is why Forward Industries Inc. (FORD) stock surged in the after-hours on Tuesday?

    Forward Industries Inc. (FORD) stock started the Tuesday trading by losing 3.19% in the morning session and closed at $2.73 per share. But in the after-market session, FORD shares soared 35.53% and close the Tuesday business at $3.7 per share. FORD shares have risen 106.82% over the last 12 months, and they have moved down8.70% in the past week. Over the past three months, the stock has lost 18.99%, while over the past six months, it has added 59.65%.

    Let’s have a look at its recent news and developments.

    Distribution agreement with Chipolo

    On June 15, 2021, Forward Industries, Incsigned an agreement with Chipolo Inc. to distribute its tracker products in the U.S., via exclusive distribution agreements with select big box stores and other retailers.

    Chipolo ONE Spotis one of the first third-party accessories that work with the Apple Find My network, enabling users to go to the Find My app and see the missing item on a map. Chipolo other products work with through its app.

    Recent financial results

    On May 14, 2021, Forward Industries, Inc reported its financial results for its second fiscal quarter ended March 31, 2021.

    Q2 2021 financial highlights

    • Forward Industries reported revenue of $8.4 million for Q2 2021 compared to $7.9 million for the three months ended March 31, 2020.
    • For the reported quarter, the gross margin was 20.8%compared to 18.3% for the three months ended March 31, 2020.
    • it reported an operating loss of $0.8 million for Q2 2021 compared to $1.7 million for Q2 2020.
    • For Q2 2021, the net loss was $0.8 million, compared to $1.4 million for the three months ended March 31, 2020.
    • Basic and diluted loss per share was $0.08 for Q2 2021, compared to $0.14 for Q2 2020.
    • As of March 31, 2021, the company had cash and cash equivalents totalled $1.5 million.

    Fiscal 2021 First Quarter results announcement

    OnFebruary 12, 2021, Forward Industries, Inc reported its financial results for its first quarter ended December 31, 2020. 

    Q1 2021 financial highlights

    • Forward Industries reported revenue of $9.7 million for Q1 2021 compared to $8.4 million for the three months ended December 31, 2019.
    • For Q1 2021, the gross margin was 23.3% compared to 20.5% for Q1 2020.
    • Operating loss was $167 thousand for Q1 2021 compared to $29 thousand for the three months ended December 31, 2019.
    • For Q1 2021, net income was 1.2 million compared to a net loss of $82 thousand for the three months ended December 31, 2019.
    • Basic and diluted earnings/(loss) per share were $0.12 compared to $0.01 for Q1 2020.
    • As of December 31, 2020, the company had cash and cash equivalents totalled $2.3 million.

    Conclusion

    The Distribution agreement with Chipolo is the reason behind its exceptional surge in the evening session on Tuesday and we hope that FORD will continue its momentum on Wednesday.

  • Is Tesla, Inc. (TSLA) stock good for you in 2021?

    Is Tesla, Inc. (TSLA) stock good for you in 2021?

    It is estimated that the global electric vehicle market is going to grow with a 29% compound annual growth rate (CAGR) in the next five years. So, it is obvious that the companies working in the manufacturing of electric vehicles, battery, and energy storage would show significant growth in the future and Tesla (TSLA) stock is the leading company among them.

    Tesla, Inc. (TSLA), founded in 2003, is primarily working in the designing, developing, and manufacturing of electric vehicles in the United States and across the globe. TSLA stock is currently trading with $616.00 per share price, having an average trading volume of 30,955,950 shares a day and a market cap of $595.039 billion. Let’s take a closer look at Tesla stock.

    Tesla Business in China:

    Though the certain restriction in China has affected the Tesla business to some extent, analyst’ estimates show that the overall electric vehicle sales in China would likely increase by 5% to 10% in the next 10 years and acting as the major contributor in the manufacturing of electric vehicles, Tesla stock would get the maximum benefit in the future. According toChina Passenger Car Association (CPCA), Tesla delivered 33,463 vehicles in May 2021 representing a 295 monthly jump. Tesla delivered About 185,000 vehicles in the first quarter of 2021.

    Performance in Covid-19:

    In the pandemic era, Tesla stock sold about half a million cars across the globe which is not a usual number in the era where the cars were parked in the garage due to imposed covid-19 restrictions by governments. One analyst has projected Tesla deliveries to be more than 850,000 in the year 2021 which is far more than 500,000 deliveries in the last year.

    First Mover Advantages:

    TSLA stock has 25,000dedicated Supercharger stations installed and also leading in the manufacturing of autonomous vehicles as it has collected 3 billion miles of driving data as of March 2020 which is 150 times more than the data collected by Alphabet’s Waymo. Besides this, Tesla CEO Elon Musk is smart enough to devise the strategies in order to leverage the business.

    Financial View of Tesla stock:

    In the first quarter of 2021, TSLA stock reported $10.39 billion in revenue representing a 74% increase over the year. Earnings per share have surpassed the estimates of 73 cents per share to reach 93 cents per share and the net income of  $438 million was generated in the recently reported quarter.

    Future Plans:

    The new version of the Model S sedan has started to deliver in May 2021 and Model X deliveries will initiate in the third quarter of 2021. Furthermore, Tesla is also planning to launch an autonomous ride-hailing network in the future that could result in$1 trillion profit by 2030 according to Cathie Wood, CEO, and founder of Ark Invest.

    Competitor Analysis:

    TSLA stock is now facing a great rivalry in the automobile industry as companies like General Motors (GM), Ford, Inc (F), and Volkswagen are spending billions in the manufacturing of electric vehicles. These companies are well established and have a decade of experience in the automobile industry. Furthermore, BYD, Nio, and Xpeng are giving tough times to Tesla stock in the Chinese electric vehicle market via investing heavily in order to increase their market share. Another weak point of Tesla stock is that its share in the global market is less than 1% which is still very low as 70 million to 80 million new cars have been sold every year.

    Conclusion:

    For most of Tesla’s business, it has been unprofitable for investors but its performance in the last few years is exceptional. Though it is acting the lead role in the manufacturing of electric vehicles still it has a low global market share in the automobile industry. If it goes with the current pace, it will generate a lot of revenue in the future but investors should keep in mind that Tesla alone is not playing in the industry as many well-established EV stocks are present in the play.

  • PharmaTher (PHRRF) Stock: Can It Continue Rallying?

    The market capitalization of PharmaTher Holdings Ltd. (OTCQB: PHRRF) rose by 27.41% with the last session closing at $0.6280. PharmaTher stock traded 4.32M shares recently, greater than its average daily volume of 494.08K.

    A price range of $0.4768 to $0.6800 has also been observed for the PHRRF stock. There are 69.74M outstanding shares of pink sheets PHRRF stock compared with a 52.67M float. PHRRF stock rose following the submission of a pre-IND meeting request and briefing package to the FDA.

    Why did PHRRF make that request?

    PharmaTher specializes in the research, development, and commercialization of novel treatments for mental health problems, neurological conditions, and pain disorders through the use of psychedelics. PHRRF is currently evaluating the efficacy of ketamine as a treatment for Parkinson’s disease in Phase 2 clinical study and is utilizing microneedles for psychedelic delivery through the skin.

    PharmaTher announces today that it has submitted a request for a pre-Iinvestigational New Drug (“pre-IND”) meeting to the FDA and a complete pre-IND briefing package.

    • KETABET is a potential new depression treatment, and PHRRF requests a meeting to support its clinical development and Phase 2 clinical study.
    • The meeting is also requested to discuss PHRRF’s microneedle patch delivery technology and hydrogel-forming technology.
    • As a treatment for major depressive disorder, KETABET has the potential to be approved by the FDA as a fast-track drug under 505(b)(2) status.

    PHRRF has any future plans?

    With its robust intellectual property portfolio, clinical experience, and recent FDA approval of an IND to evaluate ketamine’s potential to treat Parkinson’s disease, PHRRF remains committed to solving the ketamine puzzle and unlocking its true potential for treating depression. The PHRRF now believes that it can lead the way in reviving ketamine and KETABET as potential prescription-based treatments for mental health, neurological disorders, and pain.