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Tag: SNCA

  • 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.

  • Seneca Biopharma Inc. (SNCA) stock rises in after-hours. Let’s find out why:

    Seneca Biopharma Inc. (NASDAQ: SNCA) stock declined by 6.29% in the last trading close, whereas the SNCA stock price rises by 17.68% during after-hours. This change in SNCA stock is not followed by any recent news except for the significant past development i-e the merger agreement started between Seneca Biopharma and Leading Biosciences. This agreement has been acting as a catalyst for Seneca Stock price. Seneca Biopharma is a pharmaceutical company that deals with the development of treatments for high-risk diseases and to cater to other medical needs.

    The merger agreement between SNCA & LBS

    Seneca Biopharma entered into a merger agreement with Leading Biosciences in December 2020. Leading Biosciences is a private company that focuses on novel therapeutics aimed at enhancing human health by shielding the gastrointestinal mucosal barrier.

    On December 17, SNCA officially announced its merger agreement, according to which Seneca is planning to sell off its rights to NSI-566. Also, the company will come under the banner of Palisade Bio, Inc. and will trade under the ticker symbol PALI on the Nasdaq Capital Market. This newly formed company will work on Leading’s pipeline phase-3 ready asset, LB1148. SNCA turned PALI after the merger, will test and evaluate LB1148 in clinical trials to see whether it can restore normal GI function after major surgery and reduce postoperative complications, including abdominal adhesions.

    Now what?

    SNCA, on March 17, announced that leading independent proxy advisory firm Institutional Shareholder Services, Inc. has suggested the stockholders of SNCA support the merger by voting FOR it. The leading independent proxy advisory firm also said that the SNCA stockholders should vote FOR the proposals for:

    • issuance of shares in connection with the merger
    • reverse stock split

    Seneca’s special meeting of stockholders is set to happen on March 24, 2021. Upon this support from Institutional shareholders services Inc., the chairman of SNCA said that they are incredibly thankful to ISS and also believe that this merger will be highly beneficial for SNCA as well as for its stockholders.

  • Pre-Market Cues: 28 Stocks Roaring for Change On December 18th

    Pre-Market Cues: 28 Stocks Roaring for Change On December 18th

    Seneca Biopharma Inc. (SNCA), a Biotechnology company, rose about 0.2% at $0.96 in pre-market trading Friday after declaring merger agreement with Leading BioSciences, Inc. under which a wholly owned subsidiary of Seneca will merge with LBS in an all-stock transaction.

    Palantir Technologies Inc. (PLTR) lost over -3.97% at $26.15 in pre-market trading Friday December 18, 2020 after reporting that it will hold its inaugural “Live Demo Day” on Tuesday, January 26, 2021 at 4:30pm ET.

    Atossa Therapeutics Inc. (ATOS) stock plunged -0.02% to $0.86 in the pre-market trading following its declaration of pricing of $14.0 million registered direct offering priced at-the-market. The most recent rating by Maxim Group, on January 26, 2018, is a Buy.

    Virgin Galactic Holdings Inc. (NYSE: SPCE) shares are trading down -6.27% at $23.9 at the time of writing. The company recently revealed an update following its test flight on December 12, 2020. Company’s 52-week ranged between $9.06 to $42.49. Analysts have a consensus price target of $19.

    BlackBerry Limited (BB), a Software – Infrastructure company, dropped about -4.36% at $7.9 in pre-market trading Friday after releasing its financial results for the three months ended November 30, 2020

    Before the trading started on December 18, 2020, Uxin Limited (UXIN) is up 4.5% to reach $1.16 following its announcement of unaudited financial results for the quarter ended September 30, 2020. It has been trading in a 52-week range of $0.72 to $3.07.

    Coeur Mining Inc. (CDE) stock plunged -2.98% to $10.76 in the pre-market trading. The firm recently revealed details of the expansion of its Rochester silver-gold mine in Nevada, reflecting significant reserve growth and the benefits of a larger-scale expansion project. The most recent rating by Noble Capital Markets, on September 14, 2020, is an Outperform.

    Novan Inc. (NASDAQ: NOVN) shares are trading up 6.25% at $0.68 at the time of writing. The company lately reported that it has enrolled 525 patients of the approximately 850 patients expected to enroll in the B-SIMPLE4 pivotal Phase 3 clinical study of SB206. Company’s 52-week ranged between $0.22 to $3.72.

    CNS Pharmaceuticals Inc. (CNSP), a Biotechnology company, rose about 15.2% at $2.88 in pre-market trading Friday after announcing FDA approval of IND application for its brain cancer drug candidate Berubicin.

    United States Steel Corporation (X) stock moved down -4.26 percent to $17.77 in the pre-market trading after reporting that fourth quarter 2020 adjusted EBITDA is expected to be approximately $55 million and expected fourth quarter 2020 adjusted diluted loss per share to be approximately ($0.85).

    BioCardia Inc. (BCDA) lost over -6.09% at $4.01 in pre-market trading Friday December 18, 2020 following an announcement from the firm that the independent Data Safety Monitoring Board (DSMB) has completed its prespecified data review for the Phase III pivotal CardiAMP Heart Failure Trial.

    Before the trading started on December 18, 2020, Ampio Pharmaceuticals Inc. (AMPE) is up 8.43% to reach $1.93 after revealing the completion of its Phase I clinical trial and initiation of the first steps for a global Phase II clinical trial for intravenous (“IV”) Ampion treatment in COVID-19 patients. It has been trading in a 52-week range of $0.31 to $1.69.

    Drive Shack Inc. (NYSE: DS) shares are trading up 5.47% at $3.47 at the time of writing following the opening of its 65,000-square-foot entertainment golf venue located in Orlando. Company’s 52-week ranged between $0.86 to $4.19. Analysts have a consensus price target of $4.

    IZEA Worldwide Inc. (IZEA) tumbled over -3.7% at $1.04 in pre-market trading today. The company recently reported that it has just been awarded a mid-six figure contract from a Fortune 500 Manufacturer.

    Exela Technologies Inc. (XELA), a Software – Application company, rose about 81.87% at $0.66 in pre-market trading Friday after declaring that it has entered into a 5-year, $145 million term loan facility with Angelo Gordon, a global alternative investment firm.

    FedEx Corporation (FDX) stock moved down -2.89 percent to $283.8 in the pre-market trading after declaring strong results for the quarter ended November 30.

    Guardion Health Sciences Inc. (GHSI) stock plunged -2.13% to $0.23 in the pre-market trading. The firm recently declared progress on the introduction of its new vision support/energy drink, Epiq-V, which is under development for the United States and international markets.

    Amyris Inc. (NASDAQ: AMRS) shares are trading up 3.68% at $4.23 at the time of writing. Company’s 52-week ranged between $1.40 to $6.07. Analysts have a consensus price target of $3.35.

    Mereo BioPharma Group plc (MREO), a Biotechnology company, rose about 40.27% at $3.1 in pre-market trading Friday following the declaration of a license and collaboration agreement with Ultragenyx Pharmaceutical Inc. (RARE), for setrusumab, a monoclonal antibody in clinical development for osteogenesis imperfecta (OI).

    Surface Oncology Inc. (SURF) gained over 17.51% at $10.0 in pre-market trading Friday December 18, 2020 after revealing exclusive license agreement with GSK for novel immunotherapy program.

    Neovasc Inc. (NVCN) is down more than -8.52% at $0.91 in pre-market hours Friday December 18, 2020 after reporting the publication of peer-reviewed article in EuroIntervention. The stock had jumped over 3.61% to $0.99 in the last trading session.

    BioLineRx Ltd. (BLRX) tumbled over -1.1% at $2.7 in pre-market trading today. The firm lately declared final results from Phase 2a COMBAT/KEYNOTE-202 triple combination study of Motixafortide in second line Metastatic Pancreatic Cancer (PDAC).

    VYNE Therapeutics Inc. (VYNE), a Biotechnology company, rose about 8.05% at $1.88 in pre-market trading Friday after declaring the successful completion of its End-of-Phase 2 Meeting with the U.S. Food and Drug Administration (FDA).

    Before the trading started on December 18, 2020, Mesoblast Limited (MESO) is down -26.75% to reach $9.94 after announcing an update on COVID-19 ARDS trial. It has been trading in a 52-week range of $3.12 to $21.28.

    Applied DNA Sciences Inc. (APDN) stock plunged -12.02% to $5.49 in the pre-market trading after reporting consolidated financial results for the full fiscal year and quarter ended September 30, 2020. The most recent rating by H.C. Wainwright, on July 20, 2020, is a Buy.

    Conformis Inc. (NASDAQ: CFMS) shares are trading up 3.8% at $0.6693 at the time of writing. The firm lately revealed the U.S. commercial launch of the Company’s new Cordera™ Match Hip System. Company’s 52-week ranged between $0.50 to $1.66.

    Auris Medical Holding Ltd. (EARS) grew over 1.5% at $2.7 in pre-market trading today. The company recently provided a business update related to the Company’s funding position, its AM-301 program for the protection against airborne pathogens and allergens and the ongoing strategy review process.

    Sonoma Pharmaceuticals Inc. (SNOA) stock moved up 19.79 percent to $9.14 in the pre-market trading following the announcement of partnership with Gabriel Science, LLC for dental.