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Tag: LMNL

  • Liminal BioSciences Inc. (LMNL) stock gained in the current market; here is why?

    Liminal BioSciences Inc. (LMNL) stock gained in the current market; here is why?

    The current market for Liminal BioSciences Inc. (LMNL) was up for the company after announcing its debt repayment. LMNL is trading at $0.86, gaining more than 0.92 percent from its closing price on Monday. The stock closed at $0.85 at the end of the last trading session. The stock volume traded in the last trading session was around 84.9K shares. The current market cap of the company is around 26.54 million.

    Liminal BioSciences Inc. (LMNL) repaid its debt

    Liminal BioSciences Inc. (LMNL) stated that it has fully settled its $39.1 million debt to Structured Alpha LP (SALP). It ends the Company’s credit connection with SALP.

    The April 27, 2017 consolidated loan agreement, as revised in November 2019, was fully paid on April 23, 2019. The Repayment also discharges all restrictions in the Loan Agreement and royalties stream purchase agreement dated May 1, 2018. This release covers any security interests, hypothecs, charges, and other liens placed on the assets of the Company’s affiliates, including any intellectual property held by such affiliates themselves or their subsidiaries.

    Approximately CA$9.1 million in future interest expenses will be saved when the loan is repaid in 2021 with proceeds from the sale of pediatric review vouchers and the disposal of the company’s plasma-derived therapeutics business. Paying down the debt while being financially secure is in the company’s best interest and displays the company’s dedication to financial management and control. Neither premiums nor penalties were necessary for the Repayment.

    LMNL CEO’s remarks

    Deleveraging our balance sheet and cutting interest costs is part of our business objective, says Liminal BioSciences CEO Bruce Pritchard. Early repayment releases SALP’s secured rights in the Company’s assets, giving us full intellectual property ownership. This streamlines our procedures and expands our future possibilities, including pipeline asset transactions. The loan came in April 2024 and was a significant burden on our financial sheet. Despite ending our creditor relationship with SALP, we appreciate their continuing support.

    Conclusion

    Its debt repayment shows its strong balance sheet and good company performance. Throughout 2022, the Company will examine its balance sheet and aggressively explore opportunities to liquidate non-core assets and decrease expenses associated with prior activities.

  • 21 Stocks Taking Bigger Strides in Pre Market Session

    21 Stocks Taking Bigger Strides in Pre Market Session

    ‎Velodyne Lidar Inc. (VLDR) stock soared 7.5% to $26.53 in the pre-market trading ‎after reporting that it has joined the Qualcomm® Smart Cities Accelerator Program to promote using ‎lidar technology in smart city solutions. The most recent rating by Needham, on December 15, 2020, is ‎a Buy. ‎

    ‎MicroVision Inc. (MVIS) grew over 14.38% at $6.6 in pre-market trading today.‎

    ‎Aurora Mobile Limited (NASDAQ: JG) shares are trading up 48.9% at $4.75 at the ‎time of writing following the announcement from the firm that it has entered into a partnership ‎agreement with a global leading new energy vehicle manufacturer. Company’s 52-week ranged ‎between $1.40 to $5.43.‎

    ‎Castor Maritime Inc. (CTRM) stock moved down -3.97 percent to $0.1522 in the pre-‎‎‎‎market trading.‎

    ‎HEXO Corp. (HEXO), a Drug Manufacturers – Specialty & Generic company, rose ‎about 8.0% at $1.08 in pre-market trading Tuesday after reporting lapse of base shelf prospectus.‎

    ‎Novan Inc. (NOVN) stock plunged -5.8% to $0.6396 in the pre-market trading after ‎declaring that it has entered into a Master Services Agreement (MSA) with Catalent.‎

    ‎Nano Dimension Ltd. (NNDM) gained over 2.38% at $8.61 in pre-‎‎‎market ‎trading ‎Tuesday December 22, 2020.‎

    ‎Gevo Inc. (NASDAQ: GEVO) shares are trading up 8.39% at $3.1 at the time of ‎writing following the declaration from the company that it has optioned the right to purchase ‎approximately 239 acres of land near Lake Preston, SD Company’s 52-week ranged between $0.46 to ‎‎$2.87. Gevo Options Site for Expansion Project.‎

    ‎electroCore Inc. (ECOR) gained over 7.36% at $1.75 in pre-market trading Tuesday ‎December 22, 2020 after reporting agreement with Pro Medical Baltic to be exclusive distributor for ‎gammaCore Sapphire in Eastern Europe.‎

    ‎Nxt-ID Inc. (NXTD), a Security & Protection Services company, dropped about -‎‎‎‎4.41% at $1.3 in pre-market trading Tuesday.‎

    ‎Iterum Therapeutics plc (NASDAQ: ITRM) shares are trading up 2.35% at $1.0 at the ‎time of writing after receiving approval to transfer to Nasdaq Capital Market. Company’s 52-week ‎ranged between $0.45 to $6.47. Analysts have a consensus price target of $2. ‎

    ‎Aurora Cannabis Inc. (ACB) stock moved up 2.13 percent to $9.13 in the pre-‎‎‎market ‎trading.‎

    ‎Venus Concept Inc. (VERO) tumbled over -16.14% at $2.13 in pre-market trading ‎today following the announcement of proposed public offering.‎

    ‎UP Fintech Holding Limited (NASDAQ: TIGR) shares are trading up ‎‎7.97% ‎at ‎‎$6.37 ‎at ‎the time of writing. Company’s 52-week ranged between $2.03 to $7.60.‎

    ‎IZEA Worldwide Inc. (IZEA) lost over -1.78% at $1.38 in pre-‎‎market ‎trading ‎Tuesday ‎December 22, 2020.‎

    ‎500.com Limited (WBAI), a Gambling company, rose about 9.14% at $4.18 in pre-‎market trading Tuesday following the declaration from the firm that it has entered into a definitive ‎share subscription agreement with Good Luck Information Technology Co., Limited , a company ‎incorporated in Hong Kong, for the issuance and sale of newly issued Class A ordinary shares of the ‎Company.‎

    ‎Liminal BioSciences Inc. (LMNL) stock soared 2.76% to $5.21 in the pre-‎‎‎market ‎trading. The most recent rating by Piper Sandler, on December 21, 2020, is an Overweight.‎

    ‎Palantir Technologies Inc. (PLTR) gained over 1.72% at $29.0 in pre-market trading ‎Tuesday December 22, 2020 after declaring that the U.S. Army’s Program Executive Office for ‎Enterprise Information Systems (PEO EIS) opted to execute the second year of its partnership with ‎Palantir on the Army Vantage program, for a total price of $113.8 million for the year.‎

    ‎EyeGate Pharmaceuticals Inc. (EYEG) is down more than -3.84% at $5.01 in pre-‎market hours Tuesday December 22, 2020 after announcing the acquisition of Panoptes Pharma. The ‎stock had jumped over 45.94% to $5.21 in the last trading session. ‎

    Before the trading started on December 22, 2020, Kopin Corporation (KOPN) ‎is ‎up ‎‎8.43% to reach $2.83. It has been trading in a 52-week range of $0.19 to $2.16.‎

    ‎Bit Digital Inc. (BTBT) grew over 4.96% at $6.56 in pre-market trading today following ‎the release of its third quarter of fiscal year 2020 financial results.‎

  • High Flying Plasma Pharmaceuticals as FDA Approves Plasma-based COVID-19 Treatment

    High Flying Plasma Pharmaceuticals as FDA Approves Plasma-based COVID-19 Treatment

    The markets are up this morning driven by news that the U.S had approved a COVID-19 treatment. Yesterday, the U. S FDA issued an emergency use authorization for the use of blood plasma from people who had recovered from COVID-19 as a treatment.

    In a statement, the FDA said that on the basis of available scientific evidence, the blood plasma of people who had recovered from COVID-19 had benefits that outweighed any potential risks. The statement further stated that the Emergency Use Authorization gave the green light for the distribution of the product in the U.S for use by healthcare providers to treat people hospitalized with COVID-19.

    Commenting on the development, President Trump has stated that the treatment had so far cut mortality rates by 35%, quoting a study by the Mayo Clinic. Over the weekend, it was also reported that the President was considering fast-tracking a vaccine that was being developed by Oxford University in the U.K.

    All these news have led to a surge in optimism across the financial markets, and major U.S indices are strong pre-market. In this environment of high optimism, plasma-related biopharma companies are rallying. Some of the biggest gainers this morning are as below:

    ADMA Biologics Inc [NASDAQ: ADMA]

    ADMA Biologics is flying high this morning after the FDA approved the use of recovered COVID-19 patients’ plasma as a treatment.

    At the time of writing, the stock was up by 70% and gaining. The company is specialized in making plasma biologics for the treatment of a wide array of immune deficiencies and infectious diseases. With the use of plasma approved, investors are optimistic that with its infrastructure in plasma-based treatments, this company stands to benefit significantly in the foreseeable future.

    ThermoGenesis Holdings Inc [NASDAQ: THMO]

    ThermoGenesis Holdings Inc is another plasma-treatment biotech company that is rallying this morning.  The company has the infrastructure for it, and investors are optimistic that it stands to benefit from the approved treatment.

    The company operates in two segments and one of them is involved in automated cell separation of progenitor and stem cells taken from umbilical cords blood. It is also involved in the preservation of such blood for clinical applications.

    Liminal Biosciences Inc [NASDAQ: LMNL]

    This is another top performer this morning and is up by over 60% in pre-market trading. The company operates in two segments and one of them is called Plasma Derived Therapeutics. This segment of the company has a plasma protein purification system that is used in the extraction of protein therapeutics from plasma.