Category: Mid Day Movers

Shares of the Vaxxinity, Inc. (VAXX) stock were popping high in the current market trading session today on January 19, 2022. VAXX stock price saw a surge of 16.44% to reach $8.57 a share at the time of this writing. The trading volume was 1,933,156, far higher than the average trading volume. Let’s understand the reason behind this rally.

What’s Happening with VAXX stock?

A few days ago, Vaxxinity announced that it has dosed the first patient with Parkinson’s disease with UB-312 in Part B of a double-blinded, placebo-controlled Phase 1 clinical trial. Previously the company completed part A of the Phase 1 trial in healthy volunteers. This is another milestone of the company in its effort to meet the needs of patients with UB-312. This reflects the positive progress of the company and is a good sign for long-term shareholders of VAXX stock.

UB-312 is a synthetic peptide vaccine that targets toxic forms aggregated α-synuclein (aSyn). It is the protein essential for synaptic functions. It also regulates the neurotransmitter release at the synapse. aSyn mutation causes the development of Parkinson’s disease and other synucleinopathies which include dementia and multiple system atrophy.

New Appointment

In the first week of January, the company announced that it had appointed Jason Pesile, MBA, CPA as the Senior Vice President, Finance & Accounting. The company also appointed George Hornig, Chairman of Xometry, as a member of its board of directors.  Mr. Hornig is now serving the company as the independent director to chair the audit committee.

Financial View of the VAXX stock

VAXX on December 24, 2021, did announce the financial results of the third quarter ended September 30, 2021, according to which

The net loss of the VAXX stock was $30.4 million in the third quarter of 2021. This compares to $16.5 million in the same tenure of the previous year. The company spent $6.7 million in general and administrative expenses in the third quarter of 2021. The expenses were higher as compared to $5.1 million in the third quarter of the same period of the previous year. Research and development expenses in the third quarter of 2021 were $23.6 million, higher than $7.8 million in the prior-year same tenure. By the end of the third quarter, VAXX had $89.4 million in cash and cash equivalents.

Shares of the Vinco Ventures, Inc. (BBIG) stock were gloomy in the current market trading session today on January 19, 2022. BBIG stock price saw a downtrend of 3.29% to drop at $5.02 a share at the time of this writing. The stock was green in the previous trade and went up by 27.52% at closing. Let’s have a deep look at the current bearish momentum of this stock

What’s Happening with BBIG stock?

BBIG stock became hot among the investors for the past 5 consecutive days due to positive Reddit sentiment.  The surge that began in the last week following the rumors in the vein of the Cryptyde spinoff, attracted many investors which caused significant gain in the per-share price of the BBIG stock. The current bearish momentum looks like the reaction of the profit takers as we find no press release or announcement in recent times.

Vinco Ventures is operating as a tech holding company incorporated in 2017. The company is involved in the research and development of consumer products in North America, Asia Pacific, and Europe. The company in October replaced its name with ZASH, however, the new name is not popular on the financial platforms yet. BBIG stock has a current market cap of 705.23 million and 27,632,651 average trading volume.

Recent Developments of BBIG stock

Vinco Ventures through its joint venture with ZASH Global Media and Entertainment Corporation completed the 80% interest acquisition in Lomotif Private Limited.

Lomotif has been launched in India after the beta test in the third quarter. The platform worked with Social Kyte, a famous influencer platform in India consisting of more than 90,000 members of influencers. India is the largest target market for Lomotif which will certainly help in its growth.

Financial View of the BBIG stock

• According to the third quarter of 2021, the company experienced an 11.5%decline in its revenue. The revenue in the third quarter of 2021 was $2.23 million as compared to $2.52 million in the same quarter of last year.
• Gross profit margin declined 31.4% in the third quarter of 2021 of the BBIG stock from 40.3% in the prior year same quarter.
• The company spent $25.9 million in selling, general and administrative expenses in the third quarter of 2021. These expenses also include $6.2 million in stock-based compensation and $6.2 million in operating expenses.
• The net loss of the BBIG stock was $542.5 million in the last reported quarter, compared to $2.8 million in the same quarter of last year.

Wrap Up

The positive momentum of the BBIG stock that began in the last week has broken today in the current market. The stock has shown good performance in the last six months as it gained approximately 68% in this period.

Shares of the PolarityTE, Inc. (PTE) stock were popping high in the current market trading session today on January 18, 2022. PTE stock price saw a push of 8.07% to reach $0.77 a share at the time of this writing. The stock was gloomy in the previous trading session and went down by 1.06% at closing. Let’s deep dive to understand the current bullish momentum.

What’s Happening?

PTE stock became hot among investors after the company announced that its new drug application for the SkinTE has been approved by the U.S Food and Drug Administration. The company is evaluating SkinTE to treat patients suffering from Cutaneous ulcers. Now the company is able to initiate the first of the two expected pivotal studies which the company needs to support a biologics license application as the company seeks to pursue chronic cutaneous ulcer indication for SkinTE.

The clearance of Plaority TE’s IND is a critical milestone for the company and its entire management. The milestone has given the company great confidence in its product and now the management is looking forward to initiating the first pivotal study very soon. The company is anticipating the enrollment of up to 100 patients at up to 20 sites in the U.S for the first planned pivotal study. The company expects to begin the enrollment in the late first quarter of 2022 or early in the second quarter of 2022.

Claims against PTE stock

On December 2, 2021, the Bragar Eagel & Squire, P.C, which is the nationally recognized law firm initiated the investigations against PlaorityTE for potential claims on the behalf of long-term shareholders of the PTE stock. The investigations concerned whether the board of directors of PTE breached their fiduciary duties to the company.

The complaint had been filed on September 24, 2021, which alleged that the defendants made misleading statements related to the company’s business, operational, and compliance policies. Specifically, the complaint alleged that the defendants misguided or failed to reveal that

• SkinTE IND was not up to the mark concerning its Chemistry, Manufacturing, and Control items.
• Fewer chances of FDA approval for the SkinTE in its current form.
• The company exaggerated the likelihood of the FDA approval for its SkinTE.
• As a result, the public statements of the PTE were false or misleading at all relevant times.

Wrap Up

The recent FDA approval for the SkinTE is indeed positive news by the company for the shareholders of the PTE stock. It also proved that the company was right at its stance of getting FDA approval for its SkinTE.

Shares of the Predictive Oncology Inc. (POAI) stock were gloomy in the current market trading session today on January 13, 2022. POAI stock price saw a downtrend of 5.49% to drop at $0.91 a share at the time of this writing. The trading volume on the last check was 2,417,091. Let’s deep dive to understand more about it.

What’s Happening?

POAI stock became bearish in the current market after the company announced the preliminary results of its Discovery 2021 program.  Helomics subsidiary’s evaluation demonstrated that the combination of Artificial Intelligence (AI) program CoRE™ with the tumor profile data can reveal potential new chemotherapy drug uses by matching ovarian cancer cell samples.

In the Discovery 2021 program, PeDAL™ has been created by combining the proprietary knowledge base of Helomics, the AI Machine Learning Program, and its TruTumor™ platform. PeDAL™ is a new and unique approach to the discovery of the drug that accelerates the selection process to analyze potential lead compounds for use in all cancers, not just ovarian. Predictive Oncology is looking forward to partnering with biopharmaceutical companies.

Financial View of POAI stock

The company on November 11, 2021, did announce third-quarter 2021 financial results according to which

• The company generated $313,663 for the three months ended September 30, 2021. In the first nine months of 2021, the revenue was $480,757 for the POAI stock.
• The gross profit of the POAI stock was 65% in the third quarter of 2021. In the first nine months of 2021, the gross profit was 63%.
• The company reported $648,935 operation expenses in the third quarter of 2021. This represents an increase of $80,169 from the same quarter of last year. The increase is mainly due to high staff and computing costs.
• Net cash for the operating activities in the third quarter of 2021 for the company was $8,464,82 In the first nine months of 2021, the net cash for the operating activities was $9,953,785 of the company.
• The company spent $172,86 in sales and marketing expenses in the last reported quarter. This represents an increase of $51,355 from the same tenure of the previous year.

Conclusion

The sentiment in the social media platforms like Reddit, StockTwits is not positive for the POAI stock, causing the decline in the per-share price of the stock. From the investment perspective, it is better to deeply research the company’s fundamentals and future growth before making any decision.

Shares of the VYNE Therapeutics Inc. (VYNE) stock were green in the current market trading session today on January 13, 2022. VYNE stock price saw a push of 1.90% to reach $1.02 a share at the time of this writing. The stock was gloomy in the previous trading session and went down by 3.85% at closing. Let’s deep dive to explore more of it.

What’s Happening?

VYNE stock happened to be green after the company announced that it has sold its Molecule Stabilizing Technology (MST™) franchise, to Journey Medical Corporation. AMZEEQ® topical foam, 4%, and ZILXI® topical foam, 1.5% are included in this sale. The company is focusing to use its resources in the development of its pipeline of proprietary, differentiated medicines for conditions related to immune-inflammatory.

According to the definitive asset purchase agreement, VYNE Therapeutics will receive $20.0 million in an upfront payment from Journey. Moreover, the company will also receive an additional payment of $5.0 million on the first anniversary of closing. The agreement also states that the VYNE is eligible to receive sales milestone payments of up to $450.0 million in the aggregate if it achieves a specified level of net sales. The company is also eligible to get payments in case of licensing or sublicensing of assets by Journey outside of the U.S.

Financial View of VYNE stock

The company on November 10, 2021, did announce third-quarter 2021 financial results according to which

• The company generated $4.1 million in the three months ended September 30, 2021. In the same quarter of the previous year, the company generated $3.3 million in revenue. The revenue comprised $4.0 million of product sales and $0.1 million of royalty.
• The cost of goods sold for the VYNE stock was $1.0 million in the third quarter of 2021 as compared to $0.4 million in the same tenure of the previous year. The increase in the sales volumes is mainly attributable to this rise.
• The gross margin percentage for the recently reported quarter was 73% for the VYNE stock. The gross margin percentage was 87% in the same quarter of last year.
• The company spent $7.0 million in research and development expenses in the third quarter of 2021. The selling, general and administrative expenses of the company were $13.8 million in the last reported quarter.

Wrap Up

Investors are responding positively to the recent news of the VYNE stock, resulting in the rise of stock today. However, in the past six months, this stock has lost approximately 64%.

Shares of the Splash Beverage Group, Inc. (SBEV) stock were soaring in the current market trading session today on January 11, 2022. SBEV stock price saw an uptrend of 57.01% to reach $1.68 a share at the time of this writing. The trading volume on the last check was 45,815,230, far higher than the average trading volume. Lets’ deep dive to understand the reason behind this bull.

What’s Happening?

SBEV stock became bullish after the company announced that it has got authorization to sell its TapouT performance drink in Florida. The company will initiate the selling with 47 Walmart stores that are in major metropolitan regions. In Florida, Walmart has 341 stores, the second-largest number by the state in the United States. Walmart authorization is an important milestone for the company and a good start to the year 2022. Walmart is very selective in choosing the brand to offer their shoppers. The selection of TapouT is the validation that this band can compete with the biggest brands across the world. The shareholders of the SBEV stock are happy and responding positively to this news.

Previous News of SBEV stock

On January 5, 2022, the company announced that its design agency won the award of Graphic Design USA for a packaging design for its TapouT performance hydration-recovery drink. The design agency has won the award among 11,000 competitors.  The design communicated the lifestyle position of the TapouT and the unique functional benefits of the performance drink over other sports drinks.

Financial View of the SBEV stock

• According to third-quarter 2021 financial results, the company generated $2,827,393 in revenue. This represents a whopping increase of $2,134,419 or 308% as compared to $692,974 revenue in the same period of the previous year.
• The company reported $8,254,078 in revenue in the first nine months of 2021. This represents a $7,036,369 or 578% increase from the same tenure of the previous year.
• Loss from the continuing operations in the third quarter of 2021 was $12.2 million for the SBEV stock. $8.8 million consisted of non-cash transactions.
• Loss from continuing operations reached $23.2 million in the first nine months of 2021. $13.3 million loss resulted from the non-cash transactions.

Conclusion

The recent development of the company has made the SBEV stock bullish in the current market today. In the past six months, the stock has lost 50.14%.

Shares of the Black Diamond Therapeutics, Inc. (BDTX) stock were rising in the current market trading session today on January 11, 2022. BDTX stock price saw a push of 12.00% to reach $5.04 a share at the time of this writing. The stock was red in the previous trade and went down by 11.76% at closing. Let’s dig in to explore more about it.

What’s Happening?

BDTX stock became bullish after the announcement of clearance of investigational new drug (IND) application by the U.S Food and Drug Administration. FDA has cleared the IND for the Black Diamond’s Master Key inhibitor BDTX-1535. The Phase 1 study is expected to begin in the first quarter of 2022. The company will provide the clinical update on the second of 2023.

FDA allowance for Black Diamond’s IND is an important milestone for the company and good news for shareholders of BDTX stock. The company is on a mission to mature its MasterKey therapies pipeline. The management is optimistic that the BDTX-1535 will address the unmet needs of the EGFR mutant GBM and NSCLC.

BDTX Stock: Milestones

• For the Phase 2 dose in 2022, the company has decided to collect more clinical data for the BDTX-189 safety expansion cohor This will help the company in the future development of the BDTX-189 program. For this purpose, the company will enroll additional patients. BDTX will provide further guidance for the BDTX-189 program this year.
• Black Diamond anticipates the beginning of IND-enabling studies for the BRAF this year. About 190,000 patients suffering from solid tumors get treatment with BRAF oncogenic mutations annually.
• By the end of 2021, Black Diamond had $210 million in cash, cash equivalents, and investments. The company believes that it has sufficient funds to finance its operating and capital expenditures.

Financial View of BDTX stock

Black Diamond used $26.5 million net cash for operations in the third quarter of 2021. Net cash for operations was $11.5 million in the same period of the previous year. Research and development expenses of the BDTX stock were $27.6 million in the recently reported quarter. These expenses significantly increased as compared to $12.9 million in the same tenure of the previous year. General and administrative expenses of the company were $7.7 million, higher than these expenses in the previous year. The company ended the quarter with $235.0 million in cash, cash equivalents, and investments.

Wrap Up

Investors are responding positively to the recent news of the BDTX stock today. The financial results reflect that the company is progressing in terms of its operations.