STOCKS TELEGRAPH

Category: Mid Day Movers

  • Marathon Patent (NASDAQ: MARA) Inks Agreement With Bitmain For Additional Purchase Of S-19 Pro Miners

    Marathon Patent (NASDAQ: MARA) Inks Agreement With Bitmain For Additional Purchase Of S-19 Pro Miners

    Marathon Patent Group, Inc. (NASDAQ: MARA) revealed today that it has signed a contract for the additional 10,000 purchase of next-generation Antminer S-19 Pro ASIC Miners with Bitmain. The company revealed that the delivery of these new 10,000 S-19 Pro miners is expected to begin in January 2021 and the delivery will be ended by March 2021.

    The delivery of these additional 10,000 miners faster than the previous order for 10,500 miners. Previous, 10,500 miners will be scheduled to deliver between January and June 2021. The additional 10,000 will be established three months earlier than the last purchase. Marathon Patent Group said that its bitcoin mining revenue will soon rise significantly beyond expectations.

    Each miner helps the company in producing 110 TH/s (Terahash) increasing 1.10 EH/s (Exahash) to the current operation of 2,560 miners of the company. Marathon Patent Group revealed that the delivery of 500 additional S-19 Pro Miners will be scheduled to take place in November 2020 at Marathon’s Hardin MT facility.

    The company has provided the details of further deliveries it is going to receive in the coming months. It is scheduled to receive 4, 000 S-19 Pro miners in January, 6300 in February, 4,800 in March, 1,800 in April, 1,800 in May, and finally 1,800 in June.

    Marathon Patent Group, Inc. (NASDAQ: MARA) shares were trading up 2.88% at $2.82 at the time of writing on Monday. Marathon Patent Group, Inc. (NASDAQ: MARA) share price went from a low point around $0.35 to briefly over $5.25 in the past 52 weeks. It has traded up 700.37% from its 52-weeks low and moved down -46.31% from its 52-weeks low. MARA market cap has remained high, hitting $96.39 million at the time of writing.

    Marathon Patent Group, CEO, Merrick Okamoto said that the company has continued the growth of its current bitcoin mining operations in the environment when bitcoin prices are increasing. The company will become the largest self-miner in North-America after receiving all the orders of miners.

  • TRACON Pharmaceuticals (NASDAQ: TCON) Receives FDA TRC102 Orphan Drug Designation

    TRACON Pharmaceuticals (NASDAQ: TCON) Receives FDA TRC102 Orphan Drug Designation

    TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) has announced today that it has received Orphan Drug Designation for TRC102 for the treatment of patients suffering from malignant Glioma and glioblastoma (GBM) from the US Food and Drug Administration (FDA). In the Orphan Drug Designation, the drug has been given the Orphan status. This status is given to the companies to provide them with financial benefits for the development of new drugs for the treatment of rare diseases.

    TRC102 is being examined in Phase 1 and Phase 2 clinical trials which were sponsored by the National Cancer Institute through a Cooperative Research and Development Agreement (CRADA). In Phase II, TRC102 was analyzed with Temodar chemotherapy. This study has been done on 19 patients who were suffering from progressive or recurrent GBM.

    Thes study has shown promising results and increase the time of survival in two patients for more than two years. Both patients have shown the activation of the DNA base excision repair pathway and shown hyperactivation of DNA damage response genes.

    Furthermore, TRC102 has also been analyzed in combination with chemotherapy and external beam radiotherapy in a Phase 1 study. 15 patients have participated in this study who have newly diagnosed non-squamous cell non-small cell lung cancer.

    TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) shares were trading up 9.29% at $4.94 during the trading session of Friday. TRACON Pharmaceuticals, Inc. (TCON) share price went from a low point around $0.95 to briefly over $6.37 in the past 52 weeks. It has traded up 420.00% from its 52-weeks low and moved down -22.45% from its 52-weeks high. TCON market cap has remained high, hitting $59.58 million at the time of writing.

    Orphan Drug Designation status for TRC102 will be helpful in providing the treatment for unmet medical needs of patients who are suffering from malignant glioma. TRACON Pharmaceuticals has committed to developing TRC102 with the help of the National Cancer Institute.

  • Medigus’ (NASDAQ: MDGS) ScoutCam Reports Success Of HD Micro Video Camera

    Medigus’ (NASDAQ: MDGS) ScoutCam Reports Success Of HD Micro Video Camera

    Medigus Ltd. (NASDAQ: MDGS) has announced Friday the success of its micro ScoutCam 8.0 HD in NASA’s third Robotic Refueling Mission. Medigus’s subsidiary ScoutCam Inc. is the leading developer and manufacturer of customized visual solutions. ScoutCam’s HD Micro Video Camera has achieved success in the third Robotic Refueling Mission (RRM3) of NASA, which was officially used in-orbit on October 19th-22st, 2020.

    Micro ScoutCam 8.0 HD includes one module comprised of HD cameras and illumination.  It was custom developed for NASA between 2015 and 2016 will serve on  Visual Inspection Poseable Invertebrate Robot 2 (VIPIR2) of NASA. VIPIR2 is the robotic tool that was launched to the International Space Station on December 5, 2018.

    Robotic Refueling Mission (RRM3) develops on the first two stages of International Space Station technology experiments that analyzed tools, technologies, and techniques to refuel and repair satellites in orbit. The second phase of the Robotic Refueling Mission used micro ScoutCam 1.2. It is the first generation of the company’s minuscule video camera.

    Medigus Ltd. (NASDAQ: MDGS) shares were trading up 17.71% at $2.81 at the time of writing on Friday. Medigus Ltd. (MDGS) share price went from a low point around $0.83 to briefly over $5.15 in the past 52 weeks. MDGS has a trading volume of 5.19 million as compared to the average volume of 4.41 million.  It has moved up 238.94% from its 52-weeks low and moved down -45.37% from its 52-weeks high. MDGS market cap has remained high, hitting $18.30 million at the time of writing.

    The company has announced that it’s a great achievement that micro ScoutCam 8.0 HD was proven to be very useful in the Robotic Refueling Mission of NASA. Medigus always aimed to provide cutting-edge technology to its customers and provide them a frictionless experience.

  • Socket Mobile (NASDAQ: SCKT) Stock Up 158% In Pre-Market. Here’s Why

    Socket Mobile (NASDAQ: SCKT) Stock Up 158% In Pre-Market. Here’s Why

    Shares of Socket Mobile, Inc. (NASDAQ: SCKT) went up 158.90% during the pre-market trading session of Friday. Its trading volume boomed to 16.23 million shares, which is enough to excite its stock ahead of the open. The computer Hardware company has reported that its third-quarter profit more than quadrupled, although the company revealed that the results weren’t complete and dependant on goodwill impairment.

    Socket Mobile has reported a revenue of $4.1 million in the third quarter of 2020, recording a 17% decline in the revenue as compared to the revenue of $5.0 million for the same quarter a year ago. It has shared a Net income* of $424,000*, or $0.07* per share in the third quarter of 2020 as compared to the net income of $94,000 in the third quarter of 2019.

    The company has disclosed that its revenue for the nine months ended September 30, 2020, was $11 million. It has recorded a decline of 24.7 percent in revenue for the third quarter of 2020 as compared to the $14.7 million in the same period a year earlier. SCKT has recorded the net loss for the nine months ended September 3, 2020, was $434,000*.

    Socket Mobile has announced that its auditor did not complete the annual review process related to the goodwill impairment. It has revealed that all the numbers that would be negatively affected by adjustment goodwill are asterisked. The review of goodwill impairment got delay because of uncertainties prevailing due to the ongoing pandemic.  It will soon release the complete results in Form 10-Q for Q3 after completing the review of goodwill.

    Socket Mobile, Inc. (NASDAQ: SCKT) shares were trading up 1332.88% at $3.360 during the pre-market trading session of Friday. Socket Mobile, Inc. (SCKT) share price went from a low point around $0.76 to briefly over $4.15 in the past 52 weeks. It has moved up 92.11% from its 52-weeks low and moved down -64.82% from its 52-weeks low. SCKT market cap has remained high, hitting $8.86 million at the time of writing.

    Socket Mobile revealed that it has recorded the Gross margin on revenue for the three-month of 55.3% and the Gross margin on revenue for the nine-month period completed on September 30, 2020, was 53%.  It has revealed that the future will remain uncertain due to the coronavirus pandemic.

    But its Q3 results and strong balance sheet will help the company to remain in a good position even in this pandemic.  President and CEO Kevin Mills announced that the company will release the complete results in the Form 10-Q that will be filed on or around November 13, 2020.

  • Bio-Path Holdings (NASDAQ: BPTH) Stock Skyrockets After Receiving Patent For Prexigebersen

    Bio-Path Holdings (NASDAQ: BPTH) Stock Skyrockets After Receiving Patent For Prexigebersen

    Bio-Path Holdings, Inc. (NASDAQ: BPTH) announced today that its lead product candidate, prexigebersen, in combination with front line cytidine analogues or Bcr-Abl tyrosine kinase inhibitors, has received the Notice of Allowance from the US Patent and Trademark office.

    US Patent and Trademark Office issued a Notice of Allowance to those candidates which USPTO believes that they are qualified for a patent. Before receiving the patent any candidate developed by the biotech companies is considered ‘Patent Pending’.

    Bio-Path Holdings’ prexigebersen is used to treat different types of cancers in combination with front-line therapies. Prexigebersen is a liposomal formulation holding the antisense oligodeoxynucleotide targeting growth factor receptor-bound protein 2 (Grb2).

    The new patent labeled ‘Combination Therapy with Liposomal Antisense Oligonucleotides’ will enable the Bio-Path to use Prexigebersen for the treatment of cancer. This is the greatest achievement for the company as it strengthened its position in the market. Peter Nielsen, President, and CEO of Bio-Path said that this new patent not only protects the company’s core product portfolio but also provides protection in combination with established front-line therapies.

    Bio-Path Holdings, Inc. (NASDAQ: BPTH) shares were trading up 25.18% at $5.12 at the time of writing on Thursday. It has a trading volume of 11.44 million as compared to the average volume of 161.74K. Bio-Path Holdings, Inc. (NASDAQ: BPTH) share price went from a low point of around $2.92 to briefly over $12.86 in the past 52 weeks. BPTH market cap has remained high, hitting $15.34 M at the time of writing.

    The biotechnology company is currently engaged in a Phase 2 clinical trial of prexigebersen along with decitabine to treat acute myeloid Leukemia (AML). This new patent it has received for the unique combination by USPTO will secure its ongoing trial and also provide aid to the company to bring new treatment options to patients with AML.

     

  • ATIF Holdings (NASDAQ:ATIF) Signs LOI To Buy Xi’an Green Fun Technology

    ATIF Holdings (NASDAQ:ATIF) Signs LOI To Buy Xi’an Green Fun Technology

    ATIF Holdings Limited (NASDAQ: ATIF) has announced Tuesday that it has signed a Letter of Intent (LOI) to buy equity interest in Xi’an Green Fun Technology Co., Ltd. As per the Letter of Intent, ATIF Holdings has decided to purchase 51% interest in Xi’an Green Fun Technology. Xi’an Green Fun Technology is involved in the research, development, and manufacturing of illuminated air purifier products.

    ATIF will pursue this proposed transaction after the legal reviews and approval of the boards of directors of both companies. The transaction will be executed after the final acquisition agreement between the two companies. ATIF Holdings Limited has chosen the Xi’an Green Fun Technology Co., Ltd. because of its research, development, and various operational activities.

    ATIF Holding is positive about the specific target market of illuminated air purification. The 51% interest in Green Fun will provide growth opportunities to ATIF Holdings in the future. The demand for air purification products soared after the pandemic has hit the countries around the globe.

    ATIF Holding revealed that the company is striving to evaluate the market opportunities to achieve the sustainable growth of our business.

    Shares of ATIF Holdings Limited (NASDAQ: ATIF) traded up 0.82% at $1.42 during the trading session of Tuesday. In the past 52-weeks of trading, this company’s stock fluctuated between the low of $1.00 and a high of $3.75. It has traded up 42.16% from its 52-weeks low and moved down -62.09% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 4.60.

    ATIF Holdings Limited market capitalization has remained high, hitting $63.51 million at the time of writing. ATIF Holdings has earlier revealed that its majority-owned subsidiary, Leaping Group Co., Ltd.has invested in the production of ‘Macao Stories’, an anti-gambling themed film. The film is scheduled to release in the fourth quarter of 2020.

     

  • BOQI International Medical Inc [BIMI] Rallies After 1026% Revenue Growth

    BOQI International Medical Inc [BIMI] Rallies After 1026% Revenue Growth

    BOQI International Medical Inc [NASDAQ:BIMI] is one of the top performers this afternoon, at a time when key indices have turned negative. The stock is currently up by over 50% and gaining. It’s upside momentum follows the release of stronger than expected Q2 results, including a huge increase in revenues compared to a similar period last year.

    Breaking down the results, the company announced that total revenues rose by over 1026% compared to Q2 of 2019. The company also announced that its gross profit margins rose by 22.77% a significant increase when compared to Q2 of 2019 when it recorded a gross profit margin of 4.35%. The company also reported that its net income in Q2 of 2020 rose by 629% when compared to Q2 of 2019.

    The company attributed its strong revenues growth to Guanzan Group’s sales of generic medications and medical devices. Guanzan Group is the latest asset purchase by BOQI International and one that has proven to be pivotal to the company’s revenue growth in Q2.

    The revenue growth was also attributed to the sale of products made by t NF Group. It also attributed its revenue growth to the provision of technical services and partnerships in product processing services. The company’s gross profit margins for the quarter wholesale business mainly in the wholesale medical devices and wholesale medical segments which both grew by over 20% in the quarter.

    The company’s net profits also recorded massive growth compared to a similar quarter in 2019. In specifics, the company reported a net profit of $4,673,854 when compared to a net loss of $883,245 in a similar period in 2019.

    The company attributed the increase in net profits to money made from the sale of the NF Group. The company’s liquidity position also improved from $36,674 to $109,402.

    Commenting on the results, CEO Tiewei Song said that they were happy with the Q2 results. He added that they had bought Guanzan Group allowing them to better align with the present business environment and long term growth.  He added that with more healthcare facilities opening up, the company expected demand for its products to rise, thereby adding value to the company’s shareholders.

    About BOQI International Medical Inc

    BOQI International Medical Inc is a distributor of pharmaceuticals and other healthcare products. The company runs through a network of 16 stores and mainly distributes its products in China. It is headquartered in Dalian, China.

  • Google Announces Updates To Make Google Search Work Better

    Google Announces Updates To Make Google Search Work Better

    Alphabet Inc’s (NASDAQ: GOOGL) has announced that it has decided to make a number of improvements in its core search engine to improve the experience of users. The company is planning to use AI to provide a seamless experience to its users by answering their questions with very specific answers. Google aimed to better handle the broad questions of users and typos in their queries.

    In the past 22 years, Google has made tremendous progress and always tried to make Google Search better for users every day. With the emergence of new technological advancements and the evolution of AI, Google strive to bring the AI in its products to execute its mission to organize the world’s information and make it accessible universally and useful.

    Some of the new updates of Google will really be helpful and some updates will only be for fun, but all are aimed at providing the best search result to the user. Google Search is already using the AI-based Algorithm to improve the search results but the company is trying to improve its more.

    Google disclosed that 1 in 10 searches every day are misspelled but the ‘Did You Mean’ generator is already doing a good job. But the company revealed that it is launching a new spelling algorithm to improve its ability to detect what the user is really searching for and will provide the result in just 3 milliseconds. This single change will make an improvement in spelling. This will be the greatest achievement of the company over the course of the last five years.

    Google Search also improved in a way that it will now provide the user-specific paragraphs or segments of video they are searching for. Sometimes the single sentence that solves the query of the user might be ranked in the deep web pages. But now Google has made improvements and announced that it will not only index web pages but also index individual passages from web pages. This new update of Google will improve the 7% of search queries across all languages as it launched it out globally.

    It has also made improvements in navigation so that things will be executed in a better way. Its Live busyness updates help people to know the busy places so that they can social distance themselves. It has also added a new feature of the Live view. Google has also planned to add COVID-19 safety information front and center on Business Profiles across Google Search and Maps.

    Alphabet Inc. has also announced that it is testing new technology in which it will use an AI-driven approach to better understand the semantics of videos and identify the important moments’ users are looking for. Google has also announced the updates in shopping features.

    If you don’t remember the song you just try to hum the song then Google will recognize it and will play for you.  The ‘hum to search’ feature will retrieve the song which was stuck in your mind.  Additionally, Google has also added new features in the search engine, Maps, and voice assistant to aid voters in the US to find their nearest voting locations.

     

  • OncoCyte Corporation (OCX) Stock Is Popping Today. Here’s Why

    OncoCyte Corporation (OCX) Stock Is Popping Today. Here’s Why

    Shares of OncoCyte Corporation (AMEX: OCX) soared 19.86% after the company announced that it is scheduled to present data on DetermaRxTM by the International Association for the study of lung cancer. The company will present the data at IASLC 2020 North America Conference. DetermaRx is a treatment stratification test that spot stage I-IIA non-small cell lung cancer (NSCLC) patients at high risk of recurrence despite ostensibly curative surgery, who may benefit from the addition of chemotherapy.

    This test is adopted by seventy different hospitals since its launch including National Cancer Institutes (NCI) and National Comprehensive Cancer Network (NCCN) cancer centers and is funded by Medicare. The company has provided the presentation highlights from the prospective study of 250 patients that received this test.

    It has been revealed by the company that 94% of patients who chose adjuvant chemotherapy were cancer-free and those patients who avoid adjuvant chemotherapy had experienced cancer again. These patients have received the high-risk status from the DetermaRx test.

    Additionally, this test is also useful as it informs patients whether they need chemotherapy or not and prevent them from dangerous chemotherapy. All the patients have received the low-risk status from the DetermaRx test. Only 5% of patients have got cancer again.

    Oncotcyte Corporation (AMEX: OCX) shares were trading up 19.86% at $1.57 on Wednesday. Oncotcyte Corporation share price went from a low point around $1.15 to briefly over $3.51 in the past 52 weeks, though shares have since pulled back to $1.75. It has moved up 52-1.7% from its 52-weeks low and moved down -50.14% from its 52-weeks high. OCX market cap has remained high, hitting $117.69 million at the time of writing.

    DetermaRx is useful as it provides the necessary information related to high-risk patients and informed them about adjuvant chemotherapy. It is important as a post-surgical treatment in patients diagnosed with NSCLC. The company revealed that if we combine the risk status provided by DetermaRx and EGFR mutation status it may help non-small cell lung cancer (NSCLC) patients. The result will be revealed at the KOL webinar on October 22nd at 11:00 am PT.

  • ASML Holding (NASDAQ: ASML) Announces 2020 Q3 Results

    ASML Holding (NASDAQ: ASML) Announces 2020 Q3 Results

    ASML Holding N.V. (NASDAQ: ASML) has revealed today the financial results of 2020 Q3. The semiconductor company has reported the net sales of €4.0 billion, a net income of €1.1 billion, and a Gross Margin of 46.5%. ASML Holding has disclosed that its net booking for the third quarter of 2020 was €2.9 billion. The company reported that it has experienced positive growth in the third quarter of 2020.

    The semiconductor company has projected the double-digit growth for next year on strong end-demand for electronic devices.  In the third quarter of 2019, ASML posted a net profit of 627 million euros and sales of 3 billion euros. If we look at its main customers we see big names including Samsung Electronics Co Ltd., Intel Corporation, and Taiwan Semiconductor Manufacturing Co Ltd.

    The company has also shared the products and business highlights. It has reported that its DUV lithography business, has been recognized as the first TWINSCAN NXT:2050i in Q3, which shipped in early Q4. Furthermore, it revealed that in its EUV business, the vast majority of the TWINSCAN NXE:3400B systems in the field has now been upgraded with productivity packages.

    ASML Holding N.V. (NASDAQ: ASML) shares were trading up 1.53% at $405.15 during the trading session of  Tuesday. ASML Holding N.V. (ASML)share price went from a low point around $191.25 to briefly over $402.86 in the past 52 weeks, though shares have since pulled back to $405.15. It has moved up 111.84% and 0.57% from its 52-weeks low and high, respectively. ASML market cap has remained high, hitting $167.99 billion at the time of writing.

    ASML’s CEO has provided the outlook for 2021. CEO reports that the company foresees fourth-quarter revenue of between €3.6 billion and €3.8 billion with a gross margin of around 50%. It is expecting its R&D costs of €550 million and SG&A costs of €140 million. The company outlook for the full year 2020 is therefore confirmed. The projected annualized effective tax rate is around 14% for 2020. ASML revealed that it is anticipating the ‘low double-digit growth’ in 2021 because of the uncertainties prevailing due to the ongoing pandemic.