STOCKS TELEGRAPH

Category: Mid Day Movers

  • NovaBay Pharmaceuticals, Inc. (NBY) Stock Surges Following Announcement of Partnership with ImprimisRx

    NovaBay Pharmaceuticals, Inc. (NBY) Stock Surges Following Announcement of Partnership with ImprimisRx

    NovaBay Pharmaceuticals, Inc. (NBY) stock prices surged by 13.0835% some time after market trading commenced on July 19th, 2021, bringing the price per share up to USD$0.6517 early on in the trading day.

    Partnership with ImprimisRx

    July 19th, 2021 saw the company announce its partnership with ImprimisRx, leading ophthalmological pharmaceutical businesses in the United States. The partnership will facilitate the proliferation of Avenova, driven by the widespread promotion of prescription treatment. ImpromisRx will provide NBY with national sales, marketing, and distribution support for the FDA-cleared treatment, which comes in 40 ml bottles as a 0.01% hypochlorous acid. The treatment has been clinically proven to be effective in the management of numerous chronic eye conditions as an antimicrobial lid and lash solution.

    About ImprimixRx

    The partnering company has a proven track record of successfully commercializing high-quality products through its extensive consumer base of thousands of ophthalmologists and optometrists. This position itself superbly to partner up with NBY to expand the reach of Avenova. With its cutting-edge model, ImprimisRx has streamlined the ordering and delivery of products by making the pharmaceutical value chain leaner.

    Details of the Agreement

    As per the agreement, the expansion of Avenova within the prescription channel via cost-effective means has been made possible. This will be done by facilitating the engagement of ophthalmologists and optometrists, enhancing the accessibility of Avenova to unprecedented levels. The compelling addition of the treatment to the company’s ophthalmic product portfolio is set to support its long-standing commitment to its loyal customer base.

    Scope of Avenova

    The treatment caters to a massive dry eye market that is rapidly growing, with the current indication of as many as 30 million Americans reporting suffering from chronic eye conditions, such as blepharitis and meibomian gland dysfunction. The unique treatment is the only lid and lash spray that is suitable for everyday use, having been formulated with NovaBay’s patented pure hypochlorous acid. Avenova is typically prescribed before and after cataract and Lasik procedures by ohthalmologists and optometrists, consolidating it as a complementary treatment for many of the partnering company’s existing product line.

    Future Outlook for NBY

    Armed with the expansive scope of its new strategic partnership, NBY is poised to capitalize on the added opportunities in front of it. The company is keen to usher in further growth by allocating resources towards the expansion and consolidation of the market footprint of Avenova. Investors are confident in management’s ability to leverage their resources to drive increases in shareholder value.

  • Kite Realty Group Trust (KRG) Stock Trends Lower Despite Merger Announcement with RPAI

    Kite Realty Group Trust (KRG) Stock Trends Lower Despite Merger Announcement with RPAI

    Kite Realty Group Trust (KRG) stock prices were down 9.84% shortly after market trading commenced on July 19th, 2021, bringing the price per share down to USD$18.78 early on in the trading day.

    Merger Agreement with RPAI

    July 19th, 2021 saw the company announce having entered into a definitive merger agreement with Retail Properties of America, which would see the conversion of RPAI into a subsidiary of KRG, with the latter continuing forth as the sole surviving public company. The strategic transaction facilitates the merging of two stellar product portfolios and complementary geographic footprints, thereby facilitating the creation of a top-five shopping REIT, according to enterprise value.

    Combined Scope

    The merged company is expected to have a massive market cap of almost USD$4.6 billion, with a total enterprise value of roughly USD$7.5 billion, following the closing of the transaction. These forecasts are based on the closing price of KRG shares as of the end of July 16th, 2021, which saw each share have a price of USD$20.83. The combination of the accretive transaction with a strong balance sheet and a vast scope of value creation opportunities is expected to result in sustained increases in shareholder value over the long term.

    Details of the Merger

    As per the agreement, each common share of the partnering company will be converted into 0.623 newly issued shares of KRG common stock as a part of the 100% stock-for-stock transaction. As of the closing price of KRG stock on July 16th, 2021, the conversion rate represents a 13% premium to the closing price of RPAI at the same time. Shareholders of KRG are expected to retain ownership of roughly 40% of the combined company’s equity, while the other 60% will be held by RPAI shareholders.

    Assuming RPAI’s Debt

    The company will assume the entirety of RPAI’s debt and has accordingly secured a financing commitment that will give it access to USD$1.1 billion in a term loan bridge facility, in the case of debt consents failing to be obtained prior to the closing of the transaction. The closing of the transaction is expected for the fourth quarter of fiscal 2021.

    Future Outlook for KRG

    Armed with a massive strategic acquisition in the works, KRG is poised to capitalize on the significantly expanded scope of the resources it finds at its disposal. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal and will facilitate a smooth transition through to the closing of the merger agreement.

  • NRx Pharmaceuticals, Inc. (NRXP) Stock Surges ZYESAMI Role in Pandemic Response

    NRx Pharmaceuticals, Inc. (NRXP) Stock Surges ZYESAMI Role in Pandemic Response

    NRx Pharmaceuticals, Inc. (NRXP) stock prices skyrocketed by 42.84% shortly after market trading commenced on July 19th 2021, bringing the price per share up to USD$12.17 early on in the trading day.

    ZYESAMI’s Role in Covid-19

    July 21st, 2021 saw the company announce data about ZYESAMI (aviptadil) at the Disease Control and Prevention Summit., in regard to the role of the treatment in preventing Cytokine Storm in Covid-19 patients. The presentation will showcase the statistically significant effect of ZYESAMI in mitigating the sharp rise in cytokines, which are closely linked to mortality in Covid-19 patients. This was consolidated by the completion of a recent Phase 2b/3 trial of ZYESAMI, wherein the change in cytokine level was a prespecified endpoint.

    Details of the Study

    Patients treated in the study showed a minimal increase in IL-6, as compared to patients treated with a placebo reported a statistically significant elevation in interleukin 6 cytokine levels. The patient set was diverse, with varying levels of the severity of Covid-19 infection and distribution among both tertiary care and community hospitals.

    Accelerated Development

    The findings have been submitted to the U.S. Food and Drug Administration as supplements to the Emergency Use Authorization application that has been submitted as is currently pending. The company is also submitting a biomarker letter of intent to the FDA as a part of its biomarker program, as pre the authorization of the 21st Century Cures Act.

    Scope of ZYESAMI

    With Covid-19 hospitalizations continuing to rise around the world, the placebo-controlled biomarker data signals the critical role that ZYESAMI has the potential to play in the prevention of the sudden elevation of cytokines that is linked to mortality. A biomarker-based regulatory path seems cleared on the basis of the link established between the clinical effect of ZYESAMI on survival and recovery in conjunction with measurable biologic chance in cytokine levels. The effects of a cytokine storm are lethal and are associated with mortality resulting from a variety of fatal conditions, including, but not limited to, Acute Respiratory Distress Syndrome, a common cause of death in sepsis, and amniotic fluid embolus.

    Future Outlook for NRXP

    Armed with a highly promising advancement in the fight against the continuing global coronavirus pandemic, NRXP is poised to capitalize on the prospective market space that has become accessible to it. With such spearheaded market penetration, current and potential investors are hopeful that management will be able to leverage their resources to facilitate effective distribution of the offering in a timely manner to ensure maximum profitability.

  • ECMOHO Limited (MOHO) stock is gloomy today: What’s Going on?

    ECMOHO Limited (MOHO) stock is gloomy today: What’s Going on?

    Shares of the ECMOHO Limited (MOHO) stock were falling in today’s intraday trading on July 19, 2021, without any specific reason. The MOHO stock declined 7.38% to drop at $1.38 a share as of this writing. ECMOHO Limited is an investment holding company that provides integrated solutions to the health(non-medical) and wellness market. Let’s deep dive to explore more of it.

    What’s Happening?

    There is no MOHO stock-specific news in today’s date to justify the bearish sentiment. No analysts’ downgrades or shrank targeted per share price of the MOHO stock have been in the news to support today’s decline. It means MOHO stock is going down without any particular reason which is the general convention for most of the stocks as rises and falls are the norms of the stock market. So, what do you need to know now about this position? Let’s discuss some recent events of MOHO stock.

    Strategic Cooperation Agreement:

    On July 16, 2021, ECMOHO stock signed a strategic cooperation agreement with Chong Kundang Group, a pharmaceutical company in South Korea. The agreement was intended to provide the marketing as well as multichannel sales for retail solutions for Chong Kundang’s health products in China. Furthermore, the agreement would help CKD in providing high-quality diversified health and wellness products to  Chinese consumers.

    ECMOHO 618 Analysis:

    ECMOHO stock held sales event ECMOHO 618 on June 18, 2021, that was primarily focused on increasing trends and the concept of “comprehensive health” in products related to consumers’ health.MOHO stock collaborated with top domestic and foreign brands during the sales event in order to introduce high-quality health care products. Store traffic and sales had been increased via implementing multiple efficient strategies by the MOHO stock. The consumers and sales data had been gathered in order to reach a more targeted audience for high sales conversions of demanded products. Many reputed domestic and foreign brands had been empowered through ECMOHO 618 sales event in which Puritan’s Pride, Harbin Pharmaceutical, Wyeth, and Nestlé were also included.

    Financial View of the MOHO stock:

    According to first-quarter 2021 financial results, product sales revenue decreased to US$26.4 million from US$60.7 million in the same tenure of 2020. On the other hand, services revenue surged to US$679,648 in the recently reported quarter from US$440,147 in the first quarter of 2020. The gross margin of product sales was 18% and 61% for the services as well.

    Conclusion:

    MOHO stock is facing a bearish sentiment today despite the absence of any reason. Consumers are now more concerted to their health issues and health-related consumption after the rise of the Covid-19 pandemic. As MOHO stock is fully dedicated to fulfilling the needs of its consumers but first quarter of 2021 financial results were down as compared to the same quarter of the previous year. Hence investors are encouraged to do deep research before making any decision.

  • Creatd, Inc. (CRTD) Stock Soars as Latest Target of Meme Stock Phenomenon

    Creatd, Inc. (CRTD) Stock Soars as Latest Target of Meme Stock Phenomenon

    Creatd, Inc. (CRTD) stock prices surged by 14.73% shortly after market trading commenced on July 19th, 2021, bringing the price per share up to USD$3.66 early on in the trading day.

    Vocal+ Success

    June 30th, 2021 saw the company report having achieved a significant milestone in having surpassed 30,000 subscribed users of Vocal+, the CRTD’s premium subscription offering of its flagship product, Vocal. The Vocal+ platform was launched earlier in 2020 after three years of its predecessor having driven the main business. Cumulatively, Vocal reports more than 1 million freemium and Vocal+ premium members that comprise its innovative creator community.

    Continued Development

    In light of these promising developments, the company forecasts reporting USD$1 million in net revenues for the second quarter of 2021, which will see a threefold increase from the numbers reported for the same quarter of the prior year. The upcoming quarter is set to see the company allocate resources towards the delivery of additional features that will enhance CRTD’s ability to expand and consolidate its creators and their audiences while driving down marketing costs. The company will, then, rely less on traditional paid media avenues while leveraging the organic traction of their strong network of 39 creator communities.

    Financial Guidance

    In tandem with the company’s newly released Vocal Ambassador Program, CRTD has found itself to have gained access to a source of organic growth for the platform. With the company expected to continue growing, it anticipates its creator-first strategy to generate anywhere from USD$1.6 million to USD$1.8 million in revenues for the third quarter of 2021. With a USD$1.5 million reductions in marketing costs, CRTD forecasts operating expenses in the amount of USD$3.3 million for Q3 2021

    Meme Stock Phenomenon

    Despite these promising developments, the lack of recent news or changes in fundamentals points to CRTD having become the latest target of the meme stock phenomenon. With retail investors coordinating to execute short squeezes on underdog companies with high floats, the phenomenon has been upending institutional investors over the past several quarters. Rife with volatility and risk, these gains are not something CRTD can expect to sustain for very long.

    Future Outlook for CRTD

    Despite the fleeting nature of the meme stock phenomenon’s touch, CRTD is poised to capitalize on the momentum generated by its increased scope of exposure. In a bid to use that limelight to prove to investors that they can justify such surges in stock price on merit, CRTD is keen to facilitate the resources at its disposal to drive in more organic growth over the long term.

  • Why Cytokinetics, Incorporated (CYTK) stock is soaring today?

    Why Cytokinetics, Incorporated (CYTK) stock is soaring today?

    Cytokinetics, Incorporated (CYTK) stock today announced positive topline results of Redwood-HCM after which the CYTK stock price soared by 52.00% to reach $29.23 a share at the time of this writing. Redwood HCM is the clinical trial of CK-274 in patients suffering from obstructive HCM(oHCM). Before this announcement, the stock was declining and dropped by 0.47% at the previous closing. Let’s understand more about recent events.

    Redwood-HMC results review:

    According to the results of Redwood-HCM’s cohort 1 and 2, 10 weeks of treatment with CK-274 has resulted in significant statistical reductions from baseline as compared to placebo. 78.6% of patients treated with CK-274 in cohort 1 and 92.9% in cohort 2. Majority out of these patients have achieved the desired results of the treatment. The target goal was resting gradient below 30 mmHg and post-Valsalva gradient  (LVOT-G) below  50 mmHg at Week 10 compared to placebo. The reductions in LVOT-G were started in the first two weeks of the treatment and became maximum till the end of the sixth week of the treatment. The reductions were sustained for the rest of the remaining weeks of the treatment. It was observed that the reductions in LVOT-G were proportional to the doses of CK-274.

    There were no serious adverse effects observed during the treatment with CK-274 and no interruptions occurred. One patient in the dose range-finding trial experienced a transient decrease in left ventricular ejection fraction (LVEF). This problem was related to the dose adjustment rather than dose interruption.

    Previous Activity by CYTK stock:

    CYTK stock at the beginning of this month on July 01, 2021, did announce that it had granted stock options to its twelve new employees on June 30, 2021. According to the stock option, the 12 new employees were eligible to purchase an aggregate of 90,000 shares of common stock. The Cytokinetics’ board of directors Compensation and Talent Committee had approved the grant before. The exercise price was  $19.79 per share of the CYTK stock which was the closing price on June 30, 2021.

    Wrap Up:

    Investors are responding positively to the positive results of Redwood-HCM. The trading volume of the CYTK stock today is far above the average so far. The planned phase three registrational clinical trial of CK-274 is expected to begin before the end of the current year.

  • ControladoraVuelaCompañía de Aviación, S.A.B. de C.V. (VLRS) Stock Continues Surging Following Stellar Fiscal Q2 2021 Financial Reports

    ControladoraVuelaCompañía de Aviación, S.A.B. de C.V. (VLRS) Stock Continues Surging Following Stellar Fiscal Q2 2021 Financial Reports

    ControladoraVuelaCompañía de Aviación, S.A.B. de C.V. (VLRS) stock prices were up by 6.06% some time after market trading commenced on July 16th, 2021, bringing the price per share up to USD$23.28 early on in the trading day.

    Expansion of VLRS’ Fleet

    The second quarter of fiscal 2021 saw the company announce the incorporation of 5 new A320neo aircrafts to its existing fleet, which consisted of 92 aircrafts as of June 30th, 2021. The 6 A319s, 70 A320s, and 16 A321s have an average age of 5.4 years and an average of 188 seats per aircraft. 80% of the company’s aircrafts are sharklet-equipped, with 39% of the fleet boasting New Engine Option (NEO) models.

    Fleet Breakdown

    Over the next 18 months, the company anticipates incorporating 25 A320neo family aircrafts to its fleet, with the company hoping to end the fiscal 2021 year with 101 aircrafts and the year 2022 with 113 aircrafts. The company forecasts the percentage of A320neo family aircraft of its fleet to be in line with the company’s strategy for sustainability, coming in at 54% by the end of 2022.

    Promising Financials

    The second quarter of 2021 saw the company generate cash flow in the amount of USD$104.40 million, with the company reported a solid liquidity position of USD$532 million as of June 30th, 2021, representing 44% of the operating revenue generated over the previous 12 months. The net cash flow generated by operating activities came in at roughly USD$256.30 million, with cash outflows coming out to USD$39.10 million in investing activities and USD$149.09 million in financing activities.

    Volatility of Exchange Rate

    The comprehensive financing result for the quarter was down 2%, largely driven by a foreign exchange gain of almost USD$226 million. This was despite a 24% increase in the financial cost associated with the expansion of VLRS’ fleet. With the Mexican peso having depreciated by 5% against the U.S dollar, the exchange rate was up to Ps.20.05 per US dollar for Q2 2021, up from Q2 2020 having reported Ps.19.12. The end of the second quarter of 2021 ended with the Mexican peso appreciating 4% as compared to the exchange rate from the prior quarter.

    Future Outlook for VLRS

    Armed with the impressive expansion of its fleet of aircrafts, the company is keen to leverage its financial success to continue extrapolating its trajectory of success. VLRS is hopeful that the mitigation of the effects of the coronavirus and the return of the global economy to post-pandemic levels will further boost its growth to unprecedented levels.

  • Turquoise Hill Resources Ltd. (TRQ) stock plunged in the current trading session; here’s why

    Turquoise Hill Resources Ltd. (TRQ) stock plunged in the current trading session; here’s why

    In the current trading session, we see a downward trend for Turquoise Hill Resources Ltd. (TRQ stock) shares which plunged -15.05% to $13.74 at last check. TRQ stock previously closed the session at $16.18. The TRQ stock volume traded 1.79 million shares. In the past year up to date, TRQ shares have jumped by 95.27% and in the past week, the shares moved down by -1.40%. Furthermore, Turquoise is currently valued in the market at $3.12 billion and has 201.23 million outstanding shares.

    All you need to know about Turquoise Hill

    Turquoise Hill Resources Ltd. works as a mining operations company. TRQ stock carries out its operations along with its subsidiaries. The mining work is segmented based on different deposits; copper, silver, and gold deposits. The company is focusing on the development and operations in the OyuTolgoi mine of gold and copper. This OyuTolgoi mine is located in Southern Mongolia and the company itself has been founded in 1994 by then it went by the name of Ivanhoe Mines Ltd. However, in 2012 August, the company decided to change its name to its existing one right now. The headquarter of the company is in Montreal, Canada. Mainly the company is a subsidiary itself of Rio Tinto plc.

    Announcement of result for the 2nd quarter 2021 for OyuTolgoi Mining

    On 15th July 2021, TRQ stock had announced the update on the financial result of their second quarter of 2021’s performance. These performances are specifically recorded for the mining operations of OyuTolgoi LLC.

    The opening pit mining activities saw a decrease due to being impacted by the shortage of employees and personnel in during the pandemic. This reduction in the stockpile had caused a lot of downgrading of the quality of the stockpile being produced from OyuTolgi especially for this quarter. In the second quarter of 2021, the mill throughput had also under-performed because of the shortage of personnel which caused the throughput of the mill to be reduced by 4% compared to the throughput of the first quarter of 2021.

    However, there is potentially positive news about these updates which is that there will be access to higher copper and gold grades. This access exists due to Phase 4B which is expected to be continued throughout the rest of the year.

    Personnel shortage is being the major reason for the impacted operational and mining activities and Covid 19 is being the major reason for the shortage of personnel; cases expanded altogether in Mongolia during Q2 2021, causing a progression of lockdowns in the nation and South Gobi district which restricted the capacity of OyuTolgoi to keep up with typical program changes for its laborers. Because of COVID19, there is also development cost which is being additionally impacted with delays that took place up to 30th of June.

    Nonetheless, the organization’s labor force is 93% completely inoculated and suitable controls keep on being followed at site. OyuTolgoi keeps on helping out the Mongolian specialists to carry out and keep up with control measures to ensure the wellbeing and prosperity of its laborers just as the nearby local community.

  • Byrna Technologies, Inc. (BYRN) Stock Surges Following Announcement of Pricing of its Upsized Public Offering

    Byrna Technologies, Inc. (BYRN) Stock Surges Following Announcement of Pricing of its Upsized Public Offering

    Byrna Technologies, Inc. (BYRN) stock prices were up 12.79% shortly after market trading commenced on July 16th, 2021, bringing the price per share up to USD$25.40 early on in the trading day.

    Registered Direct Offering

    July 16th, 2021 saw the company announce the pricing of its upsized underwritten public offering, wherein the company will sell 2.5 million common shares. Each share will be priced at USD$21.00, with total gross proceeds in the amount of roughly USD$52.5 million being generated, before the deduction of expenses related to the offering. This upsizing saw the company bump its shares up from the previously announced 2.25 million common shares.

    Details of the Offering

    Furthermore, the offering includes an option for underwriters to purchase up to an additional 375,000 common shares within 30-days of the offering, at the same price as the public offering. The company plans to allocate the capital generated in net proceeds from the offering towards working capital, as well as other general corporate purposes.

    Revenue Reports

    Revenues for the second quarter of fiscal 2021 were up to USD$13.4 million, a significant year-over-year improvement from the USD$1.2 million reported for the prior-year quarter. This increase in sales was largely driven by the strength of the company’s order growth for its flagship Byrna HD personal security device. This has been facilitated by favorable media attention, as well as an increase in quarterly production volumes.

    Operating Expense Breakdown

    Operating expenses were up to USD$5.5 million in the second quarter of 2021 from the USD$1.4 million in the prior-year period. This year-over-year difference was indicative of greater investment in corporate infrastructure needed for the support of the company’s growth, largely driven by the addition of key management positions over the previous year, including, but not limited to, CFO, CMRO, CSCO, and CPO. Further facilitating the difference was an increase in marketing expenses, as well as increases in legal and public company-related costs. These costs include expenses associated with a reverse stock split, wherein the conversion of the Series A preferred stock into common stock, as well as the up-listing of the company to the Nasdaq Capital Market.

    Future Outlook for BYRN

    Armed with the influx of the capital generated from the public offering, as well as the success of its financial reports for the most recent quarter, BYRN is poised to continue its trajectory of success. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.

  • Bit Brother Ltd. (BTB) Stock Plummets Following Pricing of Registered Direct Offering

    Bit Brother Ltd. (BTB) Stock Plummets Following Pricing of Registered Direct Offering

    Bit Brother Ltd. (BTB) stock prices plummeted by 47% shortly after market trading commenced on July 16th, 2021, bringing the price per share down to USD$1.06 early on in the trading day.

    Registered Direct Offering

    July 16th, 2021 saw the company announce having entered into a securities purchase agreement with various accredited investors. The agreement will see the company sell USD$22.5 million in ordinary shares and warrants in a registered direct offering. The offering will consist of the sale of 15 million ordinary shares and warrants that will facilitate the purchase of an additional 15 million shares.

    Offered Warrants

    The warrants will be exercisable immediately, with an expire date of five years from the date of issuance. A single unit consisting of one ordinary share and one corresponding warrant has been priced at USD$1.50, with the offering expected to generate USD$22.5 million before the deduction of expenses related to the offering.

    Acquiring Angelo’s Pizza

    July 13th, 2021 saw the company announce having entered into a non-binding letter of intent which will see it acquire a majority 51% stake in Angelo’s Pizza. The family-style boutique restaurant has been in business for 30 years, with a combined history of 120 years as it pivoted to a chain restaurant. Over this time, the company has garnered a strong brand name for itself, consolidated by excellent customer reviews. Following the completion of the acquisition, the chain restaurants will begin accepting cryptocurrency as a form of payment.

    Global Expansion

    Angelo’s Pizza intends to expand its market footprint across burgeoning international markets, such as Canada, Japan, South Korea, China, Singapore, Australia, and New Zealand. The overseas branches will allocate resources towards the provision of takeout and delivery services, given the limited dine-in capacity driven by the ongoing global coronavirus pandemic. The company expects to open up to 1000 branches around the world over the next five years. All of the branches, barring those in China, will be accepting Bitcoin in a big to tie its wagon to the cryptocurrency horse that is steadily increasing in momentum.

    Future Outlook for BTB

    Armed with the influx of capital from its registered direct offering and the acquisition of such an established restaurant chain, BTB is poised to capitalize on the opportunities afforded to it. The company is keen to push for the continued market proliferation of its chains, while investors are hopeful for significant and sustained increases in shareholder value over the long term.