STOCKS TELEGRAPH

Tag: Inc

  • Why Support.com, Inc. (SPRT) stock was falling today?

    Shares of  Support.com, Inc. (SPRT) stock were falling today after the launching of investigations against SPRT by many law firms.SPRT stock price was down by 3.59% to drop at $6.17 a share as of this writing. The SPRT stock was gloomy in the previous open market and its closing price was $6.40 with a 9.86% drop. Let’s see what is happening.

    Investigations against SPRT stock

    Things were gloomy for SPRT stock and the recent announcement of investigations against SPRT stock by law firms contributed more pain to the falling stock price. Law firms including Bragar Eagel & Squire, P.C., Rigrodsky Law, P.A.Halper Sadeh LLP, and Moore Kuehn, PLLC have recently launched investigations against Support.com to investigate whether the SPRT has violated federal securities law, or its board of members breached their fiduciary duties in connection to Support’s proposed merger with Greenidge Generation Holdings Inc. The law firms have encouraged the shareholder to contact them to learn more about investigations and their rights.

    Merger Agreement

    On March 22, 2021, Support.com did sign a merger agreement with bitcoin mining company Greenidge Generation Holdings Inc according to which, SPRT shareholders would receive 0.124 shares of Greenidge common stock for every owned share of Support.com common stock. In response to that merger agreement, Support.com shares were traded on massive volumes on March 22, 2021, and the per-share price soared by 231.8%, the highest rise since September 2014.

    Financial Overview

    In the third quarter of 2020, SPRT stock generated $10.3 million in revenue which was 32 percent less than the same quarter of the prior year. The loss was mainly due to the migration of its services to another country. At the end of the third quarter, SPRT stock had $29.7 million cash equivalents and short-term investments as compared to $44.8 million at the same time of 2019.

    Conclusion

    Things are going against the SPRT stock as far as market sentiment is concerned. Let’s see how the management of Support.com will react to these investigations. If things become settle, then there are chances for the SPRT stock to perform well in the future. Hence investors need to be aware of any single circumstance related to SPRT stock.

  • Why Seneca Biopharma, Inc. (SNCA) stock is falling today?

    Why Seneca Biopharma, Inc. (SNCA) stock is falling today?

    Seneca Biopharma, Inc. (SNCA) reported its financial results of year ended on December 30, 2020, after which the SNCA stock price saw a downtrend of 8.8614% today to drop at $1.841 a share as of this writing. Seneca stock was up by 23.17% at the previous closing with a $2.02 per share price.Let’s have a look at SNCA’s earnings report.

    Financial Results of 2020

    According to the report, Seneca suffered a $10.7 million operating loss for the year ended on December 30, 2020, which is significantly higher than the operating loss of $8.6 million in 2019.General and administrative expenses are mainly responsible for this increase as SNCA expanded its management structure to meet its objectives as well as professional fees for the proposed merger in 2020.

    Net loss in 2020 surged to $16.3 million or $1.17 per share nearly double the net loss of $8.4 million or $3.80 per share in 2019.The reason for this increase is partiallythe same as discussed for operating loss and partially due to $5.6 million of non-cash expense in connection withthe January 2020 warrant inducement offering.

    As of December 31,2020, Seneca had cash of $10.5 million as compared to $5.1 million at the end of the previous year.

    Business Developments

    It seems that Seneca Biopharma has continued its development over the year. SNCA entered into the definitive merger agreement with BioSciences, Inc. (LBS), completed offerings of over $14.7 million, completed the last subject’s follow-up assessment of its non-GCP Phase II trial for NSI-566 to treat chronic ischemic stroke, and succeeded to license NSI-189.

    Conclusion:

    Things are going against the penny SNCA stock as far as market sentiment is concerned but no one knows how long this situation will persist.Yearly results have shown the increase in operating as well as net losses for the SNCA stock while business development suggests that SNCA stock has grown over the year.It is better to practice to research the company’s fundamentals, balance sheet, and recent as well as future developments before taking any decision.

  • Plus Therapeutics, Inc. (PSTV) stock is high today. What’s going on?

    Plus Therapeutics, Inc. (PSTV) stock is high today. What’s going on?

    Plus Therapeutics, Inc. (PSTV) entered into the Master Services Agreement(MSA) with Piramal Pharma Solutions(PPS) today after which the PSTV stock price saw an uptrend of  45.26% to reach $3.98 a share as of this writing. Plus Therapeutics gained 3.40% at the previous closing and its per-share price was $2.74. Let’s see what the agreement says.

    MSA with Piramal Pharma Solutions (PPS).

    Plus Therapeutics, Inc. (PSTV) is a clinical-stage pharmaceutical company mainly focused on the treatment of cancer diseases. PSTV today announced its Master Services agreement with Piramal Pharma Solutions (PPS), leading contract development and manufacturing firm, to develop, manufacture, and supply Rhenium NanoLiposome (RNL™) which is an intermediate drug product of PSTV. According to this agreement, PSTV will transfer and perform its analytical methods at PPS’s drug product facility in Lexington, Kentucky along with the development of microbiological methods, intermediate drug manufacturing, and stability studies.

    Future Impact of MSA

    Plus Therapeutics is focused on the advancement of Rhenium NanoLiposome to make it a novel treatment for patients who are suffering glioblastoma, aggressive cancer often occurs in the brain or spinal cord.Plus management thinks that agreement with PPS will fast the process of RNL development and its regulatory approval in the future.

    Financial Overview of PSTV

    On February 22, 2021, PSTV announced its fourth quarter and fiscal year 2020 results according to which PSTV had an $8.3 million amount on hand as of December 30, 2021, as compared to a $17.6 million cash balance in 2019.Operating expenses in 2020 surged to $8.4 million from $5.9 million in 2019.PSTV net loss dropped to $8.2 million in 2020 while it was $11.4 million in the prior year.

    Conclusion:

    Investors are responding to PSTV stock after its master services agreement with PPS for the speedy development of RNL.Plus is expected to complete many clinical trials of its pipeline products in the upcoming quarters.Increase in operating expenses in 2020 suggests that PSTV stock is growing with time.Hence investors having long-term prospects need to keep an eye on it.

  • Sypris Solutions, Inc. (SYPR) is soaring in Pre-Market trading? What’s Going On?

    Sypris Solutions, Inc. (SYPR) is soaring in Pre-Market trading? What’s Going On?

    Shares of Sypris Solutions, Inc. (SYPR) were soaring in Tuesday’s pre-market trading. SYPR stock price saw a jump of 70.67% to reach $6.40 a share at the time of this writing.SYPR was up by 6.23% at the previous closing.It seems that climbing stock price has nothing to do with any news.

    What’s happening?

    There is no news, no press release by Sypris Solutions, no analysts upgrades or upswing targeted per share price that would explain the rally. However, SYPR announced in the last week that it will report its fourth-quarter financial results of 2020 on March 18, 2021, via real-time webcast and rebroadcast of its conference call.

    SYPR announced on February 24, 2021, that it has won a defense contract award from the U.S DoD contractor. Sypris Electronics, LLC, a subsidiary of Sypris Solutions, will now work on the manufacturing and testing of electric supply modules for the anti-ship missile system. The contract is mainly intended to meet the needs of U.S Navy and Air Force warfighters. The missile system is equipped with advanced technologies and functional in both day and night, all weather conditions, and can destroy specific targets with less dependency on intelligence, surveillance, and GPS navigation.

    At the beginning of the second week of February 2021, SYPR received orders for its Tube Turns® D-bolt, and Tool-less® specialty closures from two high-pressure energy projects. One project is anchor Field development in the Gulf of Mexico and the other is the gas pipeline upgradation in North America.

    In the third quarter of 2020, SYPR’s gross profit increased by 47.1% quarter over quarter and the gross margin was 490 points higher than the previous year. Earning per share was $0.17 in the third quarter of 2020 as compared to a loss of $0.07 per share of the previous year. Sypris Electronics revenue for the third quarter increased by 52.6% as compared to the same period of the prior year.

    Conclusion

    SYPR stock has captivated the investors despite the absence of any specific news today. Management of Sypris Solutions is well focused on the scaling of its products.SYPRhas won defense contract awards and high-pressure energy projects which shows the likely growth of SYPR stock in the future.