STOCKS TELEGRAPH

Tag: Inc

  • Borqs Technologies, Inc. (BRQS) stock is falling in Pre-market today: What’s Going on?

    Shares of the Borqs Technologies, Inc. (BRQS) stock were continuing the downtrend in the pre-market trading session today on July 27, 2021. BRQS stock price saw a downtrend of 3.50% to drop at $0.70 a share at the time of this writing. The stock went down by 10.14% at the previous closing. Let’s try to figure out the reason behind this bearish sentiment.

    What’s Happening?

    Borqs Technologies, Inc is a technology-related services provider in the People’s Republic of China. There is no press release or any BRQS related news to justify the bearish sentiment. Moreover, no analyst downgrades or shrank targeted per share price of the BRQS stock have been in the recent news. This spreads curiosity among investors who are eager to know the culprit behind the falling BRQS stock price. It is better to look at some previous events of the Borqs Technologies.

    BRQS stock Joint Venture with Chinese Government:

    On July 22, 2021, BRQS stock did announce related to its joint venture with Huzhou, China government. In connection with its joint venture, the Borqs technology received several bids from the real estate developers in order to build a 1.9 million sq.ft 5G industrial park in Huzhou, China for US$110 million. 1.7 million sq.ft. which Huzhou South Taihu New Area government has granted to Borqs stock is included in the $110 million value. This industrial park will comprise of research and office complex, convention centers, manufacturing facilities, and hotels.

    The Borqs JV entity has the responsibility to manage the whole development project. Moreover, it is expecting 20% to 30% ownership of the facilities under this project. The bidding, as well as the selection process, is possible to conclude in the third quarter of 2021.

    BRQS stock Contract with SkyCentrics:

    About a month ago, BRQS stock did announce the initiation of delivery of cellular CTA-2045 EcoPort products to SkyCentrics. This initiation was the result of a previously announced partnership contract between Borqs Technologies and SkyCentrics in October 2020. SkyCentrics is the leading machine learning and artificial intelligence solution provider for optimization in various areas.

    Wrap Up:

    BRQS stock is passing through hard times as far as market sentiment is concerned. The penny stock has a market cap of 89.046 million and a 10,639,791 average volume.

  • Why Tyme Technologies, Inc. (TYME) stock is moving high today?

    Tyme Technologies, Inc. (TYME) stock announced the receival of notification from the United States Patent and Trademark Office that states the grant of additional patent claims regarding Tyme’s metabolomic technology platform. The TYME stock price saw a push of 38.89% to reach $1.50 a share as of this writing. The stock was gloomy at the previous trading session and went down by 2.70%. Let’s deep dive to explore more of it.

    What’s Happening?

    Tyme Technologies, Inc is the biotechnology stock focused on the development of therapeutics related to cancer metabolism in the United States of America. The U.S patent no 11,058,638 which the TYME stock has been granted is related to the delivery of therapeutics to the targeted cancer cells.

    TYME stock Technology:

    The technology of the Tyme Technologies works in such a manner that the tyrosine isomer racemetyrosine fuses a second therapeutic agent in order to create a fusion compound that allows the targeted delivery to cancer cells in a novel manner. This delivery method affirms the metabolic phenomenon in which the cancer cells grow by consuming a high quantity of non-essential amino acids, in which tyrosine is also included. These cancer cells get non-essential amino acids from their surrounding as they themselves cannot make enough of these i.e., amino acids.

    This delivery technology requires further studies which TYME stock is planning to start this year. As it is the investigational procedure of drug delivery in the pre-clinical phase, it is not approved by the U.S for any disease indication.

    TYME stock’s Chief Scientific Officer Remarks:

    The Chief Scientific Officer of the TYME stock considered the delivery technology as the opportunity for Tyme Technologies for the expansion of TYME’s current cancer-metabolism-based approach with a drug delivery platform. He emphasized that this technology would help in the improvement of safety and efficacy of the wide range of anticancer drugs.

    Conclusion:

    Investors are responding to the recent news related to the U.S patent which TYME stock did announce today. The stock is bullish today and the trading volume is well above the average. The delivery technology of TYME is in the early stages but it can leverage itself in the future.

  • Is there any news of rising Chembio Diagnostics, Inc. (CEMI) stock today?

    Shares of the Chembio Diagnostics, Inc. (CEMI) stock were rising in the pre-market trading session today on July 26, 2021. The CEMI stock price saw an uptrend of 1.31 % to reach $3.10 a share at the time of this writing. The stock went down at the previous closing by 29%. Let’s deep dive to explore more of it.

    What’s Happening?

    CEMI is the developer and manufacturer of point-of-care (POC) diagnostic tests that help in the diagnosis of diseases. There is no news related to CEMI stock today to justify the bullish sentiment. It seems that the CEMI stock is rising without any obvious reason. However, it has been noticed that the stock became red at some points in the pre-market session today.

    CEMI stock’s Upcoming Financial Results:

    Chembio Diagnostics, Inc on July 23, 2021, announced the release date of its second-quarter 2021 financial results which is August 5, 2021. CEMI stock will announce financial results after the closing of trading on the above-mentioned date.

    CEMI stock’s first-quarter financial results:

    In the first quarter 2021 financial results, the CEMI stock generated $8.7 million revenue which was 27% higher than the same period of the prior year.Net products sales were declined 30% to drop at $4.0 million and the gross product margin was $0.5 million in the first quarter of 2021.

    The CEMI stock spent 46% higher research and development expenses in the first quarter of 2021 as compared to the same tenure of the previous year. Selling general and administrative expenses were increased by 46% or $1.9 million in the first three months of 2021.

    Net loss for the Chembio stock was $4.5 million as compared to $5.0 million in the prior-year period. As of March 31, 2021, cash and cash equivalents were totaled $14.4 million.

    COVID Diagnostic Test Order:

    On July 20, 2021, Chembio Diagnostics received a purchase order worth $28.3 million from Bio-Manguinhos. The order was related to Chembio’s DPP SARS-CoV-2 Antigen tests that use the nasal swab for detecting COVID-19 pathogen in only 20 minutes. As a result of this order, the shares of Chembio were doubled at that time.

    Conclusion:

    The CEMI stock was green in the pre-market trading session despite no specific news related to it on today’s date. The revenue of the first quarter was higher as compared to previous year same period. The upcoming financial results in august will further explain the position of this stock.

  • Here is what you need to know about rising Jaguar Health, Inc. (JAGX) stock in Pre-Market today

    Here is what you need to know about rising Jaguar Health, Inc. (JAGX) stock in Pre-Market today

    Shares of the Jaguar Health, Inc. (JAGX) stock continued the rising trend in the pre-market trading session today on July 20, 2021. The momentum was created after the announcement of the closing of a financing of Dragon SPAC byDragon SPAC S.p.A. and Napo EU S.p.A, the Italian subsidiary of Napo Pharmaceuticals, which is a wholly-owned subsidiary of JAGX stock. Jaguar stock price saw a push of 8.28% to reach $1.57 a share at the time of this writing. The stock went high by 10.69% at the previous closing. Let’s take a closer look at recent events.

    Dragon SPAC Financing:

    The gross proceeds for the Dragon SPAC financing were totaled approximately 8,830,000 euros. This financing is the result of previously announced $10.8 million funding by the Jaguar stock into Dragon SPAC. The funds obtained from the recently registered direct offering were used in this financing. The net proceeds resulting from the private placement will be used to finance Dragon SPAC’s merger with Napo EU. Furthermore, the net proceeds would also help in financing the combined activities after the merging of Napo EU and Dragon SPAC. The merger is expected to be completed within the next three months.

    How Jaguar Health will help Napo EU:

    The Napo EU is dedicated to expanding its plant-based medicines in Europe in order to fulfill the gastrointestinal medical needs of the consumers. The JAGX stock will help Napo EU by providing the exclusive Napo license for the development and commercializing of Crofelemer in the European market.

    Completion of Phase 2 HALT-D study:

    On July 14, 2021, JAGX stock did announce the completion of the Phase 2 HALT-D study which was initiated by the third-party investigator. The study was related to the evaluation of the effectiveness of Mytesi®, a Crofelemer, against HER2-positive breast cancer patients in order to analyze the symptomatic relief in diarrhea. The Georgetown University sponsored the investigator and Genentech which is a member of Roche Group, did funding.

    JAGX annual shareholders’ meeting:

    Due to the lack of quorum, the annual shareholders’ meeting of JAGX had been adjourned for the third time and now will be held on August 6, 2021, at the San Francisco office. The record of the eligible JAGX stockholders for the annual meeting is April 12, 2021.

    Wrap Up:

    So far so good for JAGX stock as far as market sentiment is concerned. Crofelemer’s first-in-class mechanism would prove to be beneficial for the people and would make an impact in the future. Hence JAGX stock can be a good bet for investors in the long run.

  • Staffing 360 Solutions, Inc. (STAF) stock is Popping High: What’s Going on?

    Staffing 360 Solutions, Inc. (STAF) stock announced improved anticipated second quarter 2021 financial results after which the STAF stock price saw an uptrend of 14.46% to reach $0.69 a share as of this writing. The stock went high by 1.62% at the previous closing. Let’s check out the recent events in detail.

    Second Quarter 2021 Anticipated Financial Results:

    Based on eleven weeks’ good performance through the mid of June in its three operating segments, the STAF stock anticipates revenue growth of 20% over the year which fulfills the growth estimate previously announced in the first-quarter conference call. 20% anticipated gross profit for the second quarter of 2021 is reported today which is also aligned with the previous estimate.

    The anticipated revenue for the second quarter is more than $52 million and $457,000 operating profit is reported as compared to $1.5 million loss second quarter of 2020. STAF’s gross profit recovery and its cost-saving initiatives have driven the gross profit growth. The operating expenses are anticipated to be $8.2 million in the second quarter of 2021 as compared to $9.0 million in the same quarter of 2020.

    Materially Reduced Interest Expense:

    The completion of interest raises in December 2020, February 2021, and April 2021 has materially reduced the interest expense on the income statement of STAF stock. The interest charge of $2.4 million reported in the first quarter of 2020 reduced to $1.2 million in the first quarter of 2021. Similarly, the $2.1 million interest charge reported in the second quarter of 2021 reduced to $1.1 million in the second quarter of 2021. This means the interest charges were reduced by 50% in the first six months of 2021. Consequently, the STAF stock expects positive net income for the second quarter of 2021.

    Loan Forgiveness:

    Staffing stock recently received the notification from small business administration according to which $10 million PPP loan has been forgiven to the Monroe Staffing Services, LLC, which is an indirect subsidiary of STAF stock. Staffing 360 Solutions has applied for the forgiveness of additional PPP loans of $9.4 million and is optimistic that the stock would get the forgiveness for the remaining loans.

    Conclusion:

    Investors are responding to the anticipated second quarter 2021 financial results announced by STAF stock today. The COVID-19 pandemic had badly affected the business, but stock is now in the recovery phase after various cost-saving initiatives. STAF stock cumulative debt reduced to 55% in the last 12 months in which $10 million loan forgiveness is also included. Though the penny stock is improving its balance sheet, still investors need to cautious before adding this stock to their portfolio.

  • Why CNS Pharmaceuticals, Inc. (CNSP) stock is Climbing in Pre-Market today?

    Why CNS Pharmaceuticals, Inc. (CNSP) stock is Climbing in Pre-Market today?

    Shares of the CNS Pharmaceuticals, Inc. (CNSP) stock were climbing in the Pre-market today on June 18, 2021, following the announcement made by CNS pharmaceuticals yesterday that it has been selected to be included in Russell 2000® Index. The CNSP stock price saw a push of 4.00% to reach $2.08 a share at the time of this writing. CNSP stock climbed 3.09% at the previous closing. Let’s take a closer look at current happenings.

    What’s Happening?

    CNS Pharmaceuticals, Inc, founded in 2017, develops the anticancer drugs that are used to treat brain and central nervous system tumors. CNSP addition in Russell 2000® Index would be effective from after closing of U.S. equity markets on June 25, 2021. This inclusion would help the CNSP stock to drive market awareness for its clinical program in the fight against glioblastoma multiforme (GBM) disease.

    The Russell 2000® Index is the subset of the Russell 3000® Index in which  2,000 smallest securities based on current index membership and market cap combination are added. It evaluates the performance of these smallest securities and constitutes  10% of the total market capitalization of its parent index.

    Patient Enrollment:

    Back to the previous month on May 19, 2021, CNSP stock did announce the commencing of patient enrollment in its potential pivotal study that was intended to evaluate the efficacy as well as safety of Berubicin when it is used to treat adult recurrent Glioblastoma Multiforme (GBM). The CNS pharmaceuticals planned 210 patients in its 35 clinical sites in the United States and also expressed the wish to extend the trial in Western Europe. The primary endpoint for the study was overall survival.

    Financial View of CNSP stock:

    On May 14, 2021, CNSP stock released its first-quarter 2021 financial results according to which a $3.6 million net loss was reported higher than $2.0 million in the same quarter of the previous year. Research and development expenses increased by $1.6 million in the recently reported quarter to reach $2.2 million as compared to the same prior-year period. The quarter ended with $11.0 million cash and cash equivalents which according to CNSP stock’s management is enough to fund operation during the current year.

    Conclusion:

    The CNSP stock is continuing the rising momentum after the announcement of its selection in the Russell 2000® Index. The stock is growing with time and has enough cash to fund its operations for next year. Hence investors need to keep this stock on their books.

  • Why Sonnet BioTherapeutics Holdings, Inc. (SONN) stock is rising today?

    Why Sonnet BioTherapeutics Holdings, Inc. (SONN) stock is rising today?

    Sonnet BioTherapeutics Holdings, Inc. (SONN) today announced the completion of Licensing agreement with New Life Therapeutics(NLT) after which the SONN stock price saw an uptrend of 6.75% to reach $2.53 a share as of this writing. SONN stock soared in the previous trading session and went up by 17.91% at closing. Let’s deep dive to explore more of it.

    Completion of Licensing Agreement:

    Sonnet BioTherapeutics Holdings, Inc. is a biotechnology company focused on the area of oncology for the development of the platform for biologic medicines for single as well as multipurpose actions. The execution of a definitive agreement of SONN stock with NLT is for of license of low-dose Interleukin 6 for the treatment of Diabetic Peripheral Neuropathy. The ASEAN countries included under the licensed territories are Singapore, Indonesia, Malaysia, Thailand, The Philippines, Cambodia, Vietnam, Myanmar, Brunei, and Lao PDR.

    According to the definitive agreement, SONN stock is eligible to receive payment of $1.0 Million from NLT which also including the $500,000 paid during 2020. Furthermore , Sonnet stock also has the right to receive the $20.0 Million aggregate of the potential additional amount of regulatory and commercial milestone payments along with tiered royalties on net sales ranging from 12% to 30%. The ASEAN region to be included in  Phase 1b/2a pilot-scale efficacy study with low-dose IL-6 in DPN, in the second half of 2021. Sonnet will continue to manufacture low-dose IL-6 for clinical development as well as commercial purposes. NLT can negotiate the license for commercial rights in Chemotherapy-Induced Peripheral Neuropathy and expansion of territory to include China and India.

    Management View on Agreement:

    Founder and CEO of Sonnet stock Pankaj Mohan expressed excitement for the opportunity of advancing the diabetic peripheral neuropathy program of Sonnet by partnering with NLT. Pankaj thinks that this agreement will expand the market dynamics of the SONN stock and will remove some of the development burdens of the SONN stock. He further added that this agreement is one step closer to a new treatment for patients who are suffering from diabetic peripheral neuropathy.

    Conclusion:

    Momentum was already built for SONN stock and recent news has added more hype to the rising SONN stock price. It seems that SONN stock is developing with time but deep fundamental as well as technical analysis is necessary before adding this stock to the portfolio.

  • Atossa Therapeutics, Inc. (ATOS) stock up over 6%: Let’s find out why.

    Atossa Therapeutics, Inc. (ATOS) stock up over 6%: Let’s find out why.

    Shares of Atossa Therapeutics, Inc. (ATOS) stock continued the uptrend in today’s market on May 3, 2021, after gaining 0.43% at the previous closing. ATOS stock price saw a surge of 6.01% a share to reach $2.47 a share as of this writing. Atossa CEO Dr. Steven Quay’s participation in a panel discussion at Cello Health’s Cancer Progress Virtual Conference on May 6, 2021, is the only recent news announced by the Atossa stock on April 30, 2021. Let’s discuss more of it.

    What’s happening?

    Atossa Therapeutics, Inc being a pharmaceutical company engages in the discovery and development of medicines related to oncology and infectious diseases. Individuals are eyeing the upcoming panel discussion this week which will last for three days. Many speakers of reputed venture investment funds will attend the conference.

    Previous Development:

    ATOS stock on April 08, 2021, did announce the beginning of treatment of ovarian cancer patient with Atossa’s proprietary oral Endoxifen following the approval of expanded access by the U.S.A Food & Drug Administration for Endoxifen in the “Safe to Proceed” letter. Dr. Barbara Goff, Surgeon-in-Chief treated the patient at the University of Washington Medical Center. The use of Enodxifen was restricted only to that patient and the initial testing showed exceptional results of tumor response after the combination of Endoxifen and alpelisib.

    Financial View of ATOS stock:

    • ATOS stock announced its financial results for the fiscal year 2020 according to which Atossa stock had no source of sustainable revenue and no associated cost of revenue at the end of the year 2020.
    • ATOS stock reported operating expenses of $14,607,000 for the year 2020 which represents a 15% decrease as compared to the operating expenses of 2019.
    • Research and development expenses for ATOS stock were reduced by 1% as compared to 2019 to drop at $6,608,000.Stock-based compensation of $2,214,000 was mainly responsible for this decrease.
    • General and administrative expenses for ATOS stock were totaled $7,999,000 for 2020 representing a decrease of 25% as compared to 2019. The main reason for this decrease was Stock-based compensation of roughly $3,610,000.
    • ATOS stock reported cash, cash equivalents, and restricted cash of $39.7 million at the end of the year 2020.

    Conclusion:

    Things are going well for ATOS stock as far as market sentiment is concerned and the upcoming conference discussed above will further decide the future of the ATOS stock.

  • Ocugen, Inc. (OCGN) stock falls in Pre-Market today: Why is it so?

    Ocugen, Inc. (OCGN) stock falls in Pre-Market today: Why is it so?

    Shares of Ocugen, Inc. (OCGN) stock were down in the per market trading session today after recording the gain of 6.69% with an $11.96 per share price. OCGN stock price went down by 3.60% to drop at $11.53 a share at the time of this writing. There is no particular activity by the Ocugen today however OCGN stock on April 28, 2021, announced the closing of a previously announced registered direct offering of common stock. Let’s explore more about OCGN stock.

    What’s happening?

    There is no specific reason behind the declining stock price of the OCGN stock today. No signs of analysts’ downgrade or shrank targeted per share price of the OCGN stock have been in the recent news. The most recent activity by the Ocugen stock is that it announced the closing of the previously announced registered direct offering of its common stock. OCGN stock offered 10 million shares of its common stock to healthcare-focused institutional investors at a purchase price of $10 per share. The gross proceeds resulting from this offering were roughly $100 million without the deduction of placement agent’s fees and other offering-related expenses which Ocugen has to pay.

    Net proceeds resulted from this offering would be used for general corporate purposes and capital expenditures by the OCGN stock. Moreover, part of the proceeds will also be used in the working capital as well as general and administrative expenses by the Ocugen stock.

    COVID-19 Vaccine Development:

    About a week ago, OCGN’s partner Bharat Biotech announced positive data for the second interim analysis of the phase 3 study of Covaxin. According to the data, Covaxin showed 100% efficacy against severe COVID-19 disease, and efficacy of 78% was shown by Covaxin candidate against mild, moderate, and severe COVID-19 disease. After getting encouraging results from the phase 3 study, Ocugen stock is hoping to win the EUA for Covaxin. Currently, Covaxin has been playing a major role in the fight against deadly pandemic in India.

    Conclusion:

    OCGN stock is gloomy so far in the stock market but it showed considerable overall growth in recent times.The positive results of the phase 3 study of Covaxin are the main reason behind this growth but still OCGN stock is lagging in the race of COVID-19 vaccine development as companies like Pfizer, Moderna, and Johnson& Johnson have already contracted the U.S government for the supply of millions of vaccine doses.

  • Why is Farmmi, Inc. (FAMI) stock falling in Pre-Market today?

    Why is Farmmi, Inc. (FAMI) stock falling in Pre-Market today?

    Shares of the Farmmi, Inc. (FAMI) stock were falling in the pre-market today following the announcement of pricing of Upsized Underwritten Public Offering of ordinary shares by it. FAMI stock price saw a downtrend of 55.25% to drop at $0.35 as of this writing. FAMI stock dropped by 9.27% at the previous closing. Let’s have a look at current scenarios.

    Farmmi stock intends to sell its ordinary shares:

    FAMI stock on April 28, 2021, announced the pricing of an upsized underwritten public offering of its ordinary share according to which FAMI intends to sell 140,000,000 ordinary shares at a $0.30 price per share. The gross proceeds resulting from this offering would be approximately $42.0 million without deduction of underwriter discounts and commissions along with other offering-related expenses.Net proceeds resulting from this offering would be used for the working capital as well as general corporate purposes of the Farmmi stock. The underwriter has been granted a 45-day option to purchase up to 15% additional ordinary shares of the FAMI stock under the public offering to cover the over-allotments and full exercise of this option would increase the gross proceeds from $42.00 million to $48.3 million in total. The offering is expected to end on May 3, 2021.

    Farmii sales expansion:

    Farmii stock expanded its sales through its subsidiary Zhejiang Forest Food Co., Ltd which had won the multiproduct order for export to Japan. The order is from the existing customer in Japan and related to Farmmi’s high quality richly flavored dried mushrooms, and dried black fungus. Japan is one of the top markets in the globe for Farmmi as the demand for the mushroom is very high there due to its use in various types of soup and food.

    Zhejiang has also won a couple of other multiproduct orders in April for export to U.S and Israel. Both of these orders were for richly flavored dried mushrooms as well as dried black fungus. The U.S customer is a well-established trading company the network of which is expanded to many hotels in the U.S.

    Conclusion:

    The announcement of upsized underwritten public offering is the obvious reason for the declining FAMI stock price. The recent developments of the Farmmi show that the FAMI stock is continuously expanding sales of its high-quality products around the globe. In the short long-term investors need to keep an eye on it.