STOCKS TELEGRAPH

Tag: COVID19

  • Equillium (NASDAQ: EQ) Gets FDA Green Signal To Start Phase 3 COVID-19 Trial

    Equillium (NASDAQ: EQ) Gets FDA Green Signal To Start Phase 3 COVID-19 Trial

    Shares of Equillium, Inc. (NASDAQ: EQ) soared 28.50% in the pre-trading hours after the company announced that it has got the ‘Study May Proceed Letter’ from the US Food and Drug Administration (FDA). After receiving a green signal from the FDA biotechnology company is planning to commence the COVID-19 Phase III trial, titled EQUINOX.

    In the EQUINOX Phase III trial, the company will officially enroll a total of 800 patients in the fourth quarter of 2020. FDA has also specified that the promising result of the study will also support the regulatory filing of a Biologic License Application (BLA).

    Equilium, Inc. (NASDAQ: EQ) shares were trading up 33.00% at $7.93 at the time of writing on Friday. It has a trading volume of 2.02 million in the pre-market trading session on Friday. Equilium, Inc. (EQ) share price went from a low point of around $2.20 to briefly over $27.05 in the past 52 weeks. It has moved up 172.73% from its 52-weeks low and moved down -77.82% from its 52-weeks high. EQ  market cap has remained high, hitting $144.84 million at the time of writing.

    Itolizumab is a clinical-stage, first-in-class monoclonal antibody that selectively targets the CD6-ALCAM pathway. It is used to treat COVID-19 patients suffering from Acute Respiratory Distress Syndrome (ADS). Itolizumab has the ability to control cytokine cascade that is the basis of multiple complications in COVID-19 Patients. Patients have experienced various complications such as organ failure, blood clots, and tissue damage.

    COVID-19 is continuously spreading all over the world and has infected many patients all around the globe.  Equillium is striving to provide treatment to COVID-19 patients. In the Phase III trial, patients will get either placebo or Itolizumab and they will get up to two doses of either placebo or Itolizumab on Day 1 and Day 8 if necessary.

    All the patients will be closely monitored through Day 28 while hospitalized or through post-discharge follow-up. The main purpose of this study is to evaluate the benefits of itolizumab. The trial will also analyze the safety, tolerability, and pharmacokinetics (PK) of itolizumab.

     

     

     

  • Sunworks (NASDAQ: SUNW) Stock Is Soaring Today. Here’s Why

    Sunworks (NASDAQ: SUNW) Stock Is Soaring Today. Here’s Why

    Sunworks, Inc. (NASDAQ: SUNW) has shown strong performance on Wednesday session as its stock soared 45%. The strong performance of Sunworks highlighted the positive sentiments by investors after the company disclosed that it has received $10 million of new commercial and agriculture projects in the third quarter. This is the strongest quarterly booking activity of the company since the start of the COVID-19 pandemic in early 2020.

    The company revealed that the orders come from 19 existing and new customers and it includes the installation of more than 4.4 million megawatts. California based company has unveiled that the new projects it has received in the third-quarter comprised 3.2 million for modular-home sites in Northern and Southern California. Agriculture projects consist of $1.8 million for a follow-on project from a large customer and $1.4 million from a new customer.

    For the follow-on sale of Cibao Meat Products in the Northeast the total amount is $700,000. It will include the building of 154kW a parking canopy that will include 8 EV charging stations. Sunworks Chairman Chuck Cargile revealed that much of the company’s agriculture, commercial and industrial sales activities were halted due to the ongoing pandemic.

    But in the third quarter, the company’s team worked hard and assured its investors that this is the right time to invest in solar and get benefits from the incentives currently offered. The company disclosed that the huge volume of sales in the third quarter was booked in the last week of September. Sunworks is positive that its strong performance will continue in the fourth quarter as the company has received two major projects in the first week of October.

    The company’s Chairman revealed that the strong performance of the company has shown that the demands for its solar solutions specifically among agriculture and commercial customers will continue to increase in the future.

    Sunworks, Inc. (NASDAQ: SUNW) shares were trading up 45.00% at $4.06 at the time of writing on Wednesday Sunworks, Inc. share price went from a low point around $0.29 to briefly over $8.50 in the past 52 weeks. SUNW market cap has remained high, hitting $66.87 million at the time of writing. Looking at its liquidity, it has a current ratio of 1.30.

     

  • BioNTech (NASDAQ: BNTX) And Pfizer Starts Rolling Submission For COVID-19 Vaccine Candidate

    BioNTech (NASDAQ: BNTX) And Pfizer Starts Rolling Submission For COVID-19 Vaccine Candidate

    BioNTech SE (NASDAQ: BNTX) and Pfizer, Inc. (NYSE: PFE) has announced today that they have started the rolling submission to the European Medicines Agency (EMA) to get approval for the COVID-19 vaccine candidate BNT162b2. European Medicines Agency (EMA) took the decision of review after seeing the promising preliminary results from pre-clinical and early clinical studies in adults.

    The preclinical study disclosed that BNT162b2 triggers the production of neutralizing antibodies and TH-1 dominant CD4+ and CD8+ T cells that target SARS-CoV-2, the virus which caused the COVID-19 disease. The study proved that the combination of antibody and T cell are important tools against the novel coronavirus.

    Pfizer and BioNTech have disclosed that they are planning to work closely with the EMA’s Committee for Medicinal Products for Human Use (CHMP) to finalize the rolling review process to enable the final Marketing Authorization Application (MAA). In rolling review, CHMP has started evaluating data generated in pre-clinical trials.

    The term “rolling review” means that the regulatory authority has begun evaluating the first batch of data on the vaccine. In the rolling review of BNT162b2, the European Medicines Agency (EMA) will evaluate the real-time data which the company gathered after giving doses to patients in different trials. Instead of submitting all that data at once, it is better to start the rolling review so that the company will be able to know where its vaccine candidate stands.

    Shares of BioNTech (NASDAQ: BNTX) traded up 6.49% as it gained +5.24 at $85.94 during the trading session of Tuesday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low range of $12.52 and a high range of $105.00. It has moved up 586.15% from its 52-weeks low and moved down -18.15% from its 52-weeks high. This company market capitalization has remained high, hitting $18.96 billion at the time of writing.

    On the other hand, Pfizer Inc. (NYSE: PFE) shares were trading down 0.20% as it lost -0.08 during at the time of writing on Tuesday. Pfizer Inc. share price went from a low point around $27.88 to briefly over $ in p40.97ast 52 weeks, though shares have since pulled back to $36.67. PFE market cap has remained high, hitting $204.16 Billion at the time of writing.

    The BNT162b2 vaccine candidate is based on the proprietary mRNA technology of BioNTech. It is supported by Pfizer’s global vaccine development and manufacturing capabilities. BioNTech aimed to develop a potential vaccine at this period of uncertainty where COVID-19 is spreading all around the world.

  • Should You Invest In Ford Motor (NYSE: F)?

    Should You Invest In Ford Motor (NYSE: F)?

    Ford Motor (NYSE: F) has announced the sales of its third-quarter 2020. The auto manufacturer has announced that its vehicle sales were only dropped 4.9% from the earlier years.  The company finally showed signs of recovery after experiencing the major hit by the COVID-19 pandemic which caused a decrease in the demand. But the increasing demands for sports utility vehicles and pickup trucks increased the third quarter sales of the company in the US.

    Ford has reported the sales of its trucks reached 311,751 and this third quarter is the best quarter of pickup truck sales since 2005. Ford revealed that its Q3 sales were up 27.2 percent as compared to the sales of Q2. It has sold 551,798 total vehicles this quarter as compared to the 580,251 earlier this year.

    Shares of Ford Motor traded up 2.07% as the company gained +0.14 during the trading session of Friday. It has a closing price of $6.89. In the past 52-weeks of trading, this company’s stock has fluctuated between the low range of $3.96 and a high range of $9.57. It has moved up 73.99% from its 52-weeks low and moved down -28.04% from its 52-weeks low. This company’s market capitalization has remained high, hitting $26.38 billion at the time of writing.

    The company is positive about the sales of its vehicles in quarter 4 as it is currently showing a strong performance. Ford revealed that though there is an uncertainty that is prevailing because of the ongoing pandemic but the sales results of Q3 surpassed the expectations and now the company is looking forward to a strong performer in Q4.

    Ford revealed that its retail share of the industry increased by an estimated 0.2 percentage points, while Ford’s Q3 total share expanded by 0.8 percentage points, excluding discontinued cars, Ford retail sales were up 1.3 percent.  America’s best-selling pickup sold above the 70,000 truck mark for three straight months in Q3. Retail sales were increased 10.1 percent over last year, with the retail share of the full-size pickup segment increased an expected  0.8 percentage points of share.

    Ford Motor’s new CEO Jim Farley is continuously working and focusing on the key growth areas like autonomous and electric technologies as well as commercial vehicles. Ford’s new CEO is striving to regain the image of the auto manufacturers company. The company’s main goal is to reduce cost, to improve quality, and accelerating the restructuring of underperforming businesses.

  • Is MGM Resorts (NYSE: MGM) Stock Worth Buying?

    Is MGM Resorts (NYSE: MGM) Stock Worth Buying?

    MGM Resorts International (NYSE: MGM) has decided to increase the focus on online betting. The company had disclosed that due to COVID-19 restrictions all of its resort casinos were closed. The only source from where the company was making money was sports betting and gaming online casino and poker.

    When the casinos all around the country were closed due to the restrictions of the COVID-19, gaming giant MGM has also shifted its focus towards online gambling. Nevada’s report has disclosed that in March when the virus hit the US and cases were on peak online gaming focus increases 90%year-over-year.

    MGM has recently entered the era of digital technologies and they face tough competition from sports betting apps already working in the market. This online sector has seen a positive reaction of customers and saw a growth of $53 billion last year. The reason for this massive growth is that the coronavirus pandemic has shifted the focus of people to online and indoor activities. They preferred to engage with outside activities by staying at home.

    Draftkings and FanDuel have disclosed that they have recorded the increase in new customers signs up in the first week of the 2020 NFL season since fall 2015. This is the biggest changed the industry has ever experienced. George Kliavkoff, MGM Resorts’ president of entertainment and sports said that the DraftKings and FanDuel are the major competitors of the MGM Resorts International as they have a large customer base.

    George Kliavkoff revealed that MGM is planning to increase the customer experience to gain a competitive edge by providing special benefits like giving access to Lady Gaga and other residents shows. MGM has earlier partnered with Yahoo Sports that makes Yahoo Sports the official Digital Media Sports Partner of MGM Resorts.

    MGM Resorts International (NYSE: MGM) shares went up 4.29% at $22.10 during the trading session of Friday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $5.90 and a high of $34.63. It has moved up 274.57% from its 52-weeks low and moved down -36.19% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 2.50. This company’s market capitalization has remained high, hitting $10.45 billion at the time of writing.

    MGM Resorts International is planning to open publicly ticketed live entertainment venues in the next couple of months with the implementation of all social distancing rules. Kliavkoff is predicting that the Resort will see the increase in MGM’s sportsbooks as major league teams return. The MGM Resorts have shifted the focus to online betting because whether people will remain indoor or the country reopens in all case online gaming sector will always prosper.

  • Is Norwegian Cruise Line (NYSE: NCLH) A Good Choice Right Now?

    Is Norwegian Cruise Line (NYSE: NCLH) A Good Choice Right Now?

    Norwegian Cruise Line Holdings Limited (NYSE: NCLH) shares closed green as it has gained +0.64 on Thursday. Norwegian Cruise Line, a world’s biggest cruise line continues raising debt in the following months in order to survive.

    Previously, CDC ordered cruise lines to stop operations in the US until September. Hence, the Norwegian Cruise Line along with other major companies has decided to restart the work in late Autumn. In the meantime, Norwegian Cruise Line and other major companies such as Royal Caribbean (NYSE: RCL) has disclosed its plan that the companies are gearing up for the new Healthy Sail Panel.

    The main purpose of the Panel is to prevent the spread of the virus of cruise ships. The panel consists of top experts in public health, biosecurity, infectious diseases, and hospitality and maritime operations. RCL and NCLH have disclosed that the panel will submit the plans to the CDC. 60% of Norwegian Cruise Line passengers have already demanded a refund for the canceled trip at the start of August. NCLH still has the ability to face these challenges and is not at immediate risk of becoming insolvent.

    Shares of Norwegian Cruise Line Holdings Limited traded up 3.77% as it gained +0.64 on Thursday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $7.03 and a high of $59.78. NCLH has moved up 150.78% from its 52-weeks low and moved down -70.51% from its 52-weeks high. If we look at its profitability, it has return on assets, equity, and investment of -12.20%, -37.70%, and 8.90%, respectively. Norwegian Cruise Line market capitalization has remained high, hitting $4.57 billion at the time of writing.

    Norwegian Cruise Line has recently experienced the loss as all of its ships were docked in various ports around the globe. NCLH’s revenue dropped by 99% to $16.93 million in Q2.  Its net loss for the period was $715.2 million. Furthermore, NCLH has reported the adjusted EBITDA of -$393.1 million from April to June. It has a total debt of $10.3 billion at the end of June. Additionally, it has spent $160 million on fleet Maintainance, wages, interest expenses, and taxes.

    If we compare the balance sheet of the Norwegian Cruise line with its competitors Carnival Corporation and Royal Caribbean, it has a worse balance sheet. Royal Caribbean and Carnival Corporation has reported the tangible book value per share of $36.79 and $24.9, respectively. While the NCLH has reported the less tangible equity on its books, and its tangible book value per share is only $15.60.

    It is not wrong to say that the cruise line will continue to burn cash on a daily basis. It is planning to implement a rapid test system on its ship, but it is too early to say that it will continue its operation normally in the coming months. Additionally, another important problem is that the many ports and borders around the world are currently closed to stop the spread of the virus.

    Moreover, it is possible that the no-sail order will be extended because of the current pandemic and upcoming flu season. If one person is infected on the ship the risk of infection spread also increases. If that happens on one of Norwegian Cruise Line ships, it is not wrong to believe that its stock will further plunge like it did earlier this year.

  • FSD Pharma [NASDAQ: HUGE] Decides To File IND For FSD201 To Treat COVID-19 Patients

    FSD Pharma [NASDAQ: HUGE] Decides To File IND For FSD201 To Treat COVID-19 Patients

    FSD Pharma Inc. [NASDAQ: HUGE] has submitted an Investigational New Drug (IND) application to the US Food and Drug Administration (FDA) to gain approval for the use of FSD201 to treat COVID-19 patients, the company disclosed today.

    FSD201 has anti-inflammatory properties that are proven to be useful to avoid cytokines storm linked with acute lung injury in hospitalized COVID-19 patients.

    FSD share traded up 6.23% during the trading session of Friday. This company has an opening price of $3.04 and closed at $3.24. HUGE has a day low and high range of $3.00-$3.25, respectively.

    It had a trading volume of 475.46K as compared to the average volume of roughly 932.84K. This company has a total market capitalization of 42.06 million.

    In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $2.39 and a high of $17.49. Its shares traded up 35.56% from its 52-weeks low and traded down -81.47% from its 52-weeks high.

    The FSD201 COVID-19 trail will be conducted at 25-30 sites to check the safety and efficacy of FSD201. Furthermore, the Board of Directors has given the official approval regarding the issuance of additional 369,255 class B subordinate voting shares to certain of the directors, officers, employees, and consultants of the company. This step is taken to provide the share-based compensation.

    Additionally, it is also disclosed that Dr. Raza Bokhari has got 805,802 Class B Shares instead of cash compensation for his services as CEO and Executive Co-Chairman of the Company. Dr. Bokhari has now gained ownership of approx. 8.5% of issued and outstanding class B shares. He also has control over  33.3% of the outstanding Class A multiple voting shares of the company.