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Tag: PTE

  • PolarityTE Inc. (PTE) stock Bounces Back After Hours Following its Descent to New Low

    The regenerative tissue and biomaterials developer, PolarityTE Inc. (PTE) finally made a comeback in the after-hours on April 11, 2022. The stock had been in a long downtrend which culminated in its new 52-week in the prior session. Thus, after closing the regular session near the new low, PTE rebounded and rose by 42.67% in the after-hours. PTE then reached a value of $0.2999 per share at the end of the day.

    Source: Under the Radar

    What Happened with PTE?

    PTE stock had been in a downtrend well before the company shared not-so-impressive earnings on March 30, for the fiscal year 2021. Having declined by over 40% last month and nearly 14% in the past five days alone, the stock was posing for a comeback. Given that there is no other news from the company, the rebound was effectuated by external factors. It seems social media discussions and stock sentiment etc instigated the investors to buy the dip in the stock. Thus, as investors began to purchase the dip, the stock rebounded and surged up in late trading on Monday.

    Additionally, a recent SEC filing reported the date of its Special Meeting of Stockholders for effectuating a reverse stock split in order to regain compliance with Nasdaq listing rules. Other proposals up for a vote in the meeting include the election of class II directors, compensation of executive officers, and ratification of the appointment of PTE’s independent public accountant. The meeting will be held on May 12, 2022, at 10:00 a.m. Mountain Daylight Time.

    Market Outlook

    The wider global regenerative market, as well as the biomaterials segment, are both projected for a bullish outlook in the future. The global biomaterial market is expected to reach $47.5 billion by 2025 at a CAGR of 6.0% from 2020. While the increased funds and grants by government bodies and universities are contributing factors to the growth of the segment the stringent clinical and regulatory processes on the other hand are a restraint. Moreover, the growing healthcare market in emerging economies is expected to boost the segment growth.

    PTE’s Position & Future

    Although the emerging market of biomaterials is full of opportunities, PTE’s growth and future depend on the company’s PIPE and regulatory development. The company has been facing substantial operating losses since the beginning of 2017 with a regulatory clash with the FDA also on reports. Hence, the company then commenced a wind-down of its SkinTE commercial operations as a 361 HCT/P in 2021 and submitted IND after resolving the issues identified by the FDA. Currently, the company is on track to bringing its SkinTE to the clinic for use once again.

  • PolarityTE Inc. (PTE) Stock on the Rise Following Announcement of Positive Topline Data from SkinTE Clinical Trial

    PolarityTE Inc. (PTE) stock prices were up 4.84% as of the market opening on July 28th, 2021, bringing the price per share up to USD$0.85 early on in the trading day.

    SkinTE Clinical Trial

    July 28th, 2021 saw the company announce the final data from its multi-center, randomized, and controlled trial, designed to evaluate the treatment of Diabetic Foot Ulcers. PTE stock’s proprietary investigational product SkinTE, in combination with standard of care, was evaluated against just standard of care alone.

    PTE Stock’s Trial’s Success

    PTE stock reported having successfully met the primary endpoint of the trial of wound closure by the twelfth week of treatment. The secondary endpoint of Percent Area Reduction (PAR) was also met, having been assesses for every even-numbered week from the fourth to the twelfth. The trial had a total enrolment of 100 participants that were split into two equal groups, with one received SOC plus SkinTE, whereas the other cohort received only SOC. The trial was conducted and evaluated across 13 different sites.

    Trial Results

    35 out of the 50 patients, representing 70% of the cohort, who received SkinTE in conjunction with SOC exhibited wound closure at 12 weeks. This is comparable to the 17 patients out of 50, representing 34%, exhibiting wound closure by week 12 with SOC only. 45 out of the 50 patients who received the SkinTE plus SOC treatment received a single application of SkinTE. Treatment with SkinTE in tandem with SOC resulted in an increase in the odds of would closure by a massive 5.37 times versus SOC alone.

    Adverse Event Reports

    The trial reported 148 Adverse events that were attributable to 49 subjects. The SkinTE plus SOC treatment cohort reported 66 AEs among 21 subjects while the SOC treatment group reported 82 Adverse Events, attributable to 28 subjects. Of this total, 26 incidents were Serious Adverse Events, with 12 occurring in the SkinTE plus standard of care across 7 subjects. 14 Serious Adverse Events were reported for the standard of care cohort, allocated across a total of 9 subjects.

    Future Outlook for PTE Stock

    Armed with the resounding success of the results of its SkinTE clinical trial, PTE Stock is poised to capitalize on the opportunities for the proliferation of the treatment. The company is keen to allocate resources towards consolidating and expanding its market footprint. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.

  • Early Morning Vibes: The 4 Best Stocks To Buy Now

    American stock markets ended trading largely in the green zone on January 13. The S&P 500 index improved to 3810 points by 0.23 percent, the NASDAQ gained 0.43 percent, the Dow Jones fell by a symbolic 0.03 percent.  In general, cyclical sectors seemed lower than the economy. The automotive and raw materials markets sunk. The oil and processing industries have dropped by 1.05%. In terms of trends during the last month, the real estate market gained 1.39 percent, but still ranks among the laggards.

    Company news

    Intel (INTC: + 7%) announced its CEO change. Beginning February 15, Bob Swan will be replaced by CEO of VMware (VMW: -6.8%).

    Retailer Target (TGT: -1.2%) reported strong sales during the holiday period, but expectations were high and saw stocks up 15% over the month.

    Alibaba (BABA: + 4.3%) gained support as the US government is unlikely to exclude the company’s securities from circulation on the NYSE.

    Mixed patterns are visible in global capital markets. The news would not carry new activity motors, investors wait to see until the beginning of the quarterly reporting season. President-elect Joe Biden today will deliver a $2 trillion rescue plan. There is also some insecurity regarding the proposals to boost the economy, such that the emergence of information raises market instability which may increase investor confidence.

    Yesterday, the House of Representatives of the United States voted to challenge Donald Trump, where the Democrats planned to achieve a clear majority. In expectation of new drivers, investors will be involved in the speech by FRS President Jerome Powell, who is speaking today on the possibility of modifying the programme for quantitative easing.

    Economic news

    Today, there are weekly data on the number of initial applications for unemployment benefits (forecast: growth to 795 thousand from 787 thousand a week earlier). The latest labor market report released on January 8 showed significant job losses in December. Labor market weakness will persist in the short term.

    Delta Airlines (DAL) will report for the fourth quarter. The consensus foresees a 67% decline in airline revenue to $ 3.77 billion. Delta CEO Ed Bastian said in early December that demand for flights was slowing down on the back of rising incidence of COVID-19.

    Sentiment Index

    The Freedom Finance Sentiment Index remained stable at about 58 out of 100. The measure represents market participants’ hope that the global economy will rebound in 2021. The possibility of widespread vaccination alleviates anxiety about the detrimental consequences of the coronavirus pandemic.

    Technical picture

    Technically, the S&P 500 is still prone to short-term consolidation, during yesterday’s session the situation has not changed. Buyers are showing strength, but the RSI remains close to the overbought zone, limiting growth prospects for now. In addition, in the area of ​​3825-3830 points, there is a strong resistance in the form of the upper border of the equidistant channel, which the broad market index needs to overcome to continue the upward movement.

    Today Top Movers

    Marathon Patent Group Inc (MARA), a digital asset technology company, ascended about 7.30% ‎at $24.68 in pre-market trading Thursday after the company declared a $250 million stock offering.‎

    Churchill Capital IV Corp (CCIV) share price gained 13.04% to $18.90 during the early morning ‎trading session on Thursday.‎‎

    Organogenesis Holdings Inc (ORGO) stock soared 38.96% at $10.20 in the pre-market trading today after reporting preliminary financial results for the three months and twelve months ended December 31, 2020.‎

    Polarityte Inc (PTE) jumped over 28.70% at $1.48 in pre-market ‎trading on Thursday following the declaration of a $10.0 million registered direct offering.‎

    Latest Insider Activity

    General Motors Company (GM) Executive Vice President & CIO MOTT RANDALL D announced the sale of shares taking place on Jan 12 at $48.01 for some 25,000 shares. The total came to more than $1.2 million. 

    Cinedigm Corp. (CIDM) Director Xu Peixin sold on Dec 31 a total 30,812,133 shares at $0.61 on average. The insider’s sale generated proceeds of almost $2.36 million. 

    Root Inc. (ROOT) 10% Owner Malka Meyer declared the purchase of shares taking place on Dec 30 at $16.55 for some 753,976 shares. The transaction amount was around $12.48 million. 

    Cerecor Inc. (CERC) Director ARMISTICE CAPITAL, LLC bought on Jan 08 a total 32,634,285 shares at $2.60 on average. The purchase cost the insider an estimated $6.5 million.

    Important Earnings

    Top US earnings releases scheduled for today include Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.94 per share from revenues of $12.91B in the three-month period. 

    Analysts expect Delta Air Lines Inc. (NYSE: DAL) to report a net income (adjusted) of -$2.51 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $3.6B. 

    Progress Software Corporation (PRGS), due to announce earnings after the market closes today, is expected to report earnings of $0.77 per share from revenues of $128.01M recently concluded three-month period.

  • 15 Trending Stocks in Biotechnology Industry

    15 Trending Stocks in Biotechnology Industry

    The biggest movers of the 2020 are biotech stocks. Now, the COVID-19 pandemic has put brighter spotlight on the future of healthcare and specially biotech stocks have respond accordingly.

    Innovative biotech business have adopted the change and are competing to make what could become a life-saving treatment for millions in the form of a vaccine.

    Some of the biggest winners of this transformative mega-trend are discussed below.

    Genocea Biosciences Inc. (NASDAQ:GNCA) shares were trading up 24.44% at $4.48 at the time of writing on Friday.

    Genocea Biosciences Inc. (NASDAQ:GNCA) share price went from a low point around $1.10 to briefly over $3.86 in past 52 weeks, though shares have since pulled back to $4.48. GNCA market cap has remained high, hitting $99.50M at the time of writing, giving it price-to-sales ratio of more than 110.

    If we look at the recent analyst rating GNCA, SVB Leerink initiated coverage on GNCA shares with an Outperform.

    Arbutus Biopharma Corporation (ABUS) last closed at $4.96, in a 52-week range of $0.82 to $6.48. Analysts have a consensus price target of $5.00.

    Ocugen Inc. (OCGN) stock soar by 32.85% to $0.38.

    Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Shares headed falling, lower as much as -3.97%. The most recent rating by ROTH Capital, on April 18, 2019, is at a Buy.

    Capricor Therapeutics Inc. (NASDAQ:CAPR) rose 29.31% after gaining more than $1.75 on Friday.

    Ampio Pharmaceuticals Inc. (AMPE) last closed at $0.96, in a 52-week range of $0.26 to $0.97.

    iBio Inc. (IBIO) last closed at $5.50, in a 52-week range of $0.05 to $7.45.

    Novan Inc. (NOVN) stock soar by 6.06% to $0.86. The most recent rating by Piper Jaffray, on January 06, 2020, is at a Neutral.

    Onconova Therapeutics Inc. (NASDAQ:ONTX) Shares headed falling, lower as much as -2.63%. The most recent rating by H.C. Wainwright, on March 01, 2018, is at a Buy.

    Actinium Pharmaceuticals Inc. (AMEX:ATNM) rose 7.45% after gaining more than $0.03 on Friday.

    Sesen Bio Inc. (SESN) last closed at $0.99, in a 52-week range of $0.37 to $1.54.

    VistaGen Therapeutics Inc. (VTGN) stock drop by -4.39% to $0.76. The most recent rating by Maxim Group, on June 27, 2018, is at a Buy.

    Qualigen Therapeutics Inc. (NASDAQ:QLGN) Shares headed rising, higher as much as 11.22%.

    PolarityTE Inc. (NASDAQ:PTE) rose 10.56% after gaining more than $0.17 on Friday.

    Matinas BioPharma Holdings Inc. (MTNB) last closed at $0.96, in a 52-week range of $0.49 to $2.49.