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Tag: SIOX Stock Price

  • How Did CynergisTek (CTEK) Stock Perform In Extended Trading?

    During Monday’s aftermarket session, CynergisTek Inc. (CTEK) shares fell -6.06% to $2.17. Following a gain in the regular session, CTEK stock has come to consolidate. CynergisTek stock added 13.79% to finish regular trading session at $2.31.

    CTEK recorded a trading volume of 1.07 million shares, which is high compared with the average daily trading volume of 0.22 million shares for the last 50 days. In the past three months, CTEK stock has declined -1.70 percent and gained 59.31 percent this year.

    CTEK recently experienced what?

    Cybersecurity company CynergisTek specializes in serving the needs of the healthcare industry. Providing security, privacy, and compliance solutions is a core competency of CTEK. In addition to serving hundreds of healthcare organizations as a partner, CynergisTek contributes to relevant industry associations to support and educate the industry. For the second year in a row, CTEK was named the top cybersecurity consultant for healthcare by Black Book in 2020.

    CynergisTek’s Redspin division recently achieved certification as a Candidate CMMC Third-Party Assessor Organization (C3PAO) under the Cybersecurity Maturity Model Certification Program (CMMC).

    • A Defense Industrial Base Cybersecurity Assessment Center (DIBCAC) of the Defense Contract Management Agency (DCMA) deemed that Redspin’s security practices and processes meet the requirements of CMMC Level 3.
    • In response, the CMMC Accreditation Body has certified CTEK’s Redspin as an Authorized C3PAO capable of conducting CMMC assessments.
    • CTEK’s division now has the authority to conduct assessments based on CMMC Levels 1-3 contractually with Organizations Seeking Certification (OSCs).
    • The Defense Industrial Base (DIB) contracts must be secured or renewed by CMMC contractors regardless of security negotiations.

    How CEO envision this going forward?

    Caleb Barlow, president and CEO of CynergisTek said that a number of resources at the company are on hand, and the last step was formal authorization that CynergisTek (CTEK) has now received. The CTEK executives, consultants, and provisional assessors are eager to assist DIB suppliers with assessing, constructing, and validating their cyber resilience.

  • Why Was The SIOX Stock Up 18% After Hours?

    On Monday, Sio Gene Therapies Inc. (SIOX) gained 18.25% to $2.98 in after-market trading. During the last trading session, shares of Sio Gene stock rose by 1.20% to close at $2.52. During the normal session, SIOX stock saw price of its shares ranging between $2.50 and $2.64.

    Recent developments:

    Sio Gene Therapies develops genetic medicines to help patients live longer, healthier lives. Among SIOX’s clinical-stage candidates are its potential curing AAV-based gene therapies for childhood diseases, including GM1 gangliosidosis and Tay-Sachs/Sandhoff, which are rare and uniformly fatal because of single gene defects. Also, SIOX is bringing gene therapy to treatments for Parkinson’s, which affects millions of people worldwide.

    Last week, Sio Gene reported its financial results for its fiscal year ended March 31, 2021.

    Financial Highlights:

    • As compared to the fiscal year ended March 31, 2020, research and development expenses of SIOX were $24.9 million in fiscal year 2021, a decrease of $22.2 million.
    • General and administrative expenses decreased by $4.8 million in comparison to the fiscal year ended March 31, 2020, and were $17.3 million in fiscal year 2021.
    • As of March 31, 2021, SIOX’s net loss was $32.4 million, which equates to $0.62 per share, compared to a loss of $72.6 million, or $2.93 per share, from March 31, 2020.
    • Net cash used by SIOX in operating activities for the fiscal year ended March 31, 2021 was $46.6 million.
    • The sale of long-term investment in Arvelle contributed $11.6 million to SIOX’s net cash provided by investing activities.

    SIOX’s strength:

    Sio Gene (SIOX) had cash and cash equivalents of $119.0 million as of March 31, 2021. There are no short- or long-term debts on the company’s balance sheet. SIOX estimated that it will be able to sustain operations up until the end of Q4 2022, beyond the anticipated dates for its AXO-AAV-GM1 gene therapy program to treat GM1 gangliosidosis.