Saturday, October 16, 2021
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Westwater Resources, Inc. (WWR) Stock Surging in Aftermarket, Here’s Why

WWR Stock
WWR Stock

Westwater Resources, Inc. (WWR), an energy materials developer, has soared 19.77% in the aftermarket trading session. As a result, WWR stock is changing hands at $4.18 at the time of this writing. The increase has come after Westwater approved the construction of phase-1 of the Coosa graphite project. On Monday, WWR stock closed the day at $3.49 after increasing 2.65% in the mid-day session.

WWR approval of construction on Coosa project

WWR announced on Monday that its Board of Directors had approved the expenditure of $202 million for the execution of the construction plan for phase-1 of the Coosa graphite project, Kellyton, Alabama. The company said that the construction activities are expected to begin before the end of 2021. Apart from that, the company’s Board of Directors also approved the purchase of two buildings by its subsidiary, namely Alabama Graphite Products, LLC. The buildings total 90,000 sq. ft. in size for the development of the Coosa project. The buildings would be used for administrative purposes, laboratory, and warehouse. Commenting on the development, Chris Jones, President, and CEO of Westwater said that the company is delighted to bring this gigantic business plan a step closer to reality.

Q2 2021 financial results

On 12th August, WWR reported the financial results for the second quarter of the fiscal year 2021, which ended on 30th June. The company had cash and cash equivalents of $119.13 million on 30th June. The total assets in possession of the company were $131.93 million, while total liabilities were $5.32 million. The total operating expenses for the three-month period were $4.70 million against $1.43 million for the same period of 2020. The net loss suffered by the company during three month period was $3.48 million against the net loss of $2.46 million for the same period of fiscal 2020. The net loss per basic and diluted share for the quarter stood at $0.11 against $0.25 for the same period of 2020. Commenting on the results, Chris Jones said that the quarter proved to be extremely successful for the company as it reached a number of key goals.

What’s ahead for WWR?

During the last three months, WWR stock is continuously dipping. It has declined more than 20% during the period. But analysts believe that a strong financial performance during the second quarter and the construction along the Coosa graphite project are the development that could pave the way for a successful future for the company. So, potential investors should keep a close eye on performance and news related to WWR stock in months to come.

Ra Medical Systems, Inc. (RMED) Stock Surging in Aftermarket

RMED
RMED

Ra Medical Systems, Inc. (RMED), a commercial-stage medical device company, has increased 11.30% in aftermarket trading session. Consequently, RMED stock was trading at $3.25 when last checked. The reason for the surge seems to be the company’s presentation at the virtual H.C. Wainwright 23rd Annual Global Investment Conference being held September 13-15, 2021. On Friday, RMED stock closed the day at $2.92 after declining 3.63% in the regular trading session.

Q2 2021 financial result

On 16th August, RMED reported financial results for the second quarter of the fiscal year 2021, which ended 30th June 2021. The company had cash and cash equivalents of $20.22 million on 30th June. The total assets in possession of the company were $29.15 million, while total liabilities were $7.89 million. The total net revenue for three month period was $1 million against $0.9 million for the same period of 2020. The total cost of revenue for three month period was $1.48 million against $1.16 million for the same period of 2020. The gross loss for the quarter was $0.48 million against $0.26 million for the same three month period of 2020. The operating loss for the quarter was $7.24 million against $10.11 million for the same quarter of 2020. The net loss for three month period was $5.24 million against $10.12 million for the same period of 2020. The net loss per basic and diluted share for the period was $1.28 against $10.71 for the same period of 2020. Commenting on the results, Will McGuire, Ra Medical CEO, said that the company has improved its financial position as a result of net proceeds from numerous of the transactions.  

Sale of RMED Pharos business

On the same day, i.e. 16th August, RMED announced the sale of its Pharos dermatology business to STRATA Skin Sciences for $3.7 million in cash. Pharos Excimer Laser was cleared by FDA for treatment of psoriasis, vitiligo, atopic dermatitis and leukoderma. Will McGuire said that the transaction is in the best interest of the company and its shareholders. Besides, he said that the company intends to maximize its value with a strategy that would continue to focus on the large and growing PAD market.

What’s ahead for RMED stock?

Recent past statistics have not been very excellent for RMED stock. The stock has declined 27% during last one quarter. The prominent reasons for the decline are financial results for the second quarter of 2021 and investigations against the company for a potential breach of Fiduciary duty. But analysts believe that the recent patent approval and sale of Pharos business could serve the cause of RMED stock shortly.

Payoneer Inc. (PAYO) Stock Steadily Declining in Aftermarket Despite No Reason

PAYO
PAYO

Payoneer Inc. (PAYO), a cross-border payment and commerce-enabling platform is trading at $8.19 at the time of the writing after declining 0.73% in aftermarket trading session. There appears to be no obvious reason for this decline, with the last press release by the company dates as far as 9th September. On Friday, PAYO stock declined 1.79% during regular trading hours and closed the day at $8.25.

New appointments in PAYO

PAYO announced some key appointments on 9th September 2021. The appointments were meant to strengthen the company’s leadership team and the board. The Chief Operating Officer of Payoneer, Keren Levy, was appointed as the President. She was to focus on increasing Payoneer’s global profile as it scaled. Besides, she also continued to head Merchant Services, one of Payoneer’s fastest-growing and newest business lines. Scott Galit, Chief Executive Officer at Payoneer, said that Karen had been critical to shaping the corporate culture that defines the company. Apart from Karen, Arnon Kraft joined the company as its Chief Operating Officer. Arnon has global experience in large enterprises, including SanDisk and Microsoft. Gailt welcomed him and hoped that his leadership experience would expand the company’s operations. Payoneer also inducted Pamela H. Patsley into its Board of Directors. Pamela most recently served as the executive chairman of MoneyGram International. Galit said that the company is thrilled to welcome some of Pamela’s stature to the Board.

Q2 2021 financial results

On 11th August, PAYO reported the financial results for the second quarter of fiscal 2021, which ended 30th June. The company generated $110.92 million in terms of revenue during the period against $78.38 million for the same period of 2020. The total operating expenses for the quarter were $129.28 million against $84.12 million for the same quarter of 2020. The operating loss for three month period was $18.36 million against $5.73 million for the same period of 2020. The net loss for the quarter was $12.41 million against $6.66 million for the same period of 2020. The net loss per basic and diluted share for the quarter was $0.63 against $0.22 for the same three month period of 2020. The company had cash and cash equivalents of $498.70 million on 30th June. The total assets in possession of the company were $4.33 billion, while total liabilities were $3.85 billion

What’s in store for PAYO?

PAYO stock has declined 19% during the last quarter, mainly due to weak quarterly results. The recent appointees, however, have the calibre to successfully transform the company’s fortunes. So, potential investors should keep a close eye on developments related to PAYO stock

Why Capstone Green Energy Corp. (CGRN) Stock Dipping in Aftermarket?

CGRN
CGRN

Capstone Green Energy Corp. (CGRN), a company designing, assembling, and manufacturing microturbine power generation systems, has declined 7.14% in aftermarket trading session and consequently, is trading at $4.55 at the time of this writing. The stock is on a decline presumably due to recent developments related to the energy sector, like an increase in oil prices as a result of the OPEC meeting, which ultimately has affected the business of Capstone. On Friday, CGRN stock increased 1.66% during regular trading hours and closed the day at $4.90.

CGRN secured the contract for two C1000S microturbines

On 7th October, CGRN stock surged 6% after the announcement by the company that it had secured a contract for two C1000S microturbines for the state of the art energy systems for an industrial grow operator’s Maryland cultivation and processing facility. The order was secured by E-Finity Distributed Generation, which is Capstone’s exclusive partner for the Southeastern United States, Caribbean and Mid-Atlantic. The order is expected to be commissioned in the summer of 2022. According to the agreement, two natural gas-fueled C1000 Signature Series microturbine energy systems of Capstone would use their waste heat for two exhaust-fired absorption chillers. These chillers would produce 880 tons of chilled water which would be used for the space conditioning of 90,000 square foot facility. The system would be capable of islanding from the electric utility in case of a power outage. It would provide continuous operation to the grow facility.

Q1 2022 financial results

On 11th August, CGRN reported the financial results for the first quarter of the fiscal year 2022 which ended on 30th June 2021. The company had cash and cash equivalents of $49.21 million on 30th June. The total assets stood at $113.71 million while the total liabilities remained at $91.20 million. The company generated $16.08 million in terms of total revenue during three month period, against $14.19 million during the same period of fiscal 2021. The total cost of goods sold was $13.43 million for three month period against $10.82 million for the same period of fiscal 2021. The gross margin for the quarter was $2.64 million against $3.37 million for the same quarter of 2020. The total operating expenses for three month period were $6.20 million against the total operating expenses of $3.91 million for the same period of fiscal 2021. The net loss for three month period was $2.18 million (or $0.16 per basic and diluted share) against $1.82 million (or $0.17 per basic and diluted share) for the same period of 2020.

Future of CGRN stock

CGRN stock has increased more than 11% during the last month, mainly on the back of a tumultuous situation for the oil and gas industry as well as major developments in front of green energy. But with the oil and gas sector bouncing back, it could partially affect the performance of CGRN in near future. In the long run, however, CGRN stock is expected to depict a strong performance.

Evofem Biosciences, Inc. (EVFM) Stock Declining in Aftermarket, Here’s Why

EVFM
EVFM

Evofem Biosciences, Inc. (EVFM), a biopharmaceutical company, has declined 5.05% in aftermarket trading session. As a result, EVFM stock was changing hands at $0.70 when last checked. On Friday, EVFM stock closed the day at $0.74 after decreasing a mere 0.81% in regular trading hours. The reason for the decline seems to be the upcoming conference by Evofem which has stirred this fluctuation in EVFM stock.

EVFM commented on the letter to Biden administration

On 8th October, EVFM commented on a letter, written by notable figures of the House of Representatives to the Biden Administration, calling for coverage of the full range of contraceptives under the Affordable Care Act (ACA). The House of Representative leaders wrote to some senior Biden administration health officials that their departments could operationalize together to ensure that the ACA’s requirements to provide the people with coverage of the full range of contraceptives (that are approved by FDA) would continue to be enforced and protected. Saundra Pelletier, Chief Executive Officer of Evofem, commented that the company praises the leaders who ensuring those women have broad access to contraceptives. He further heaped the praise upon the authors of the letter.

Q2 2021 financial results

On 11th August, EVFM reported the financial results for the second quarter of the fiscal year 2021, which ended on 30th June. The company had cash and cash equivalents of $46.98 million on 30th June. The total liabilities at the point of time were $99.78 million. The net product sales for the period were $1.85 million. The cost of goods sold during the period was $0.83 million. The total operating expenses for three month period were $42.99 million against $22.37 million for the same period of 2020. The loss from operations during the quarter was $41.14 million against $22.37 million for the same period of 2020. The net loss for three month period was $33.42 million against the net loss of $52.66 million for the same quarter of 2020. The net loss per basic and diluted share for the period was $0.27 against $0.91 for three months same period of 2020. Commenting on the performance, Saundra Pelletier said that the momentum built through the strong performance would allow the company to further accelerate its growth rate.

What’s next for EVFM?

The recent past has not been great for EVFM stock. The stock has declined 24% during the last three months, primarily due to raising $50 million via equity at a 22% discount. But the strong quarterly performance, as well as other developments, has put it back on track. So, potential investors could reap the benefits from EVFM stock in future based on careful trading.

Stealth BioTherapeutics Corp. (MITO) Stock Surging in Premarket, Here’s Why

Stealth BioTherapeutics Corp. (MITO), a clinical-stage biotechnology company, has surged 7.91% in the pre-market trading session. MITO stock is trading at $1.50 at the time of this writing. The rise seems to result from the presentation of positive SBT-272 preclinical data. On Thursday, MITO closed the day at $1.39 after increasing 1.46% during regular trading hours.

Presentation of promising data by MITO

In the late hours of Thursday, MITO announced the presentation of new promising data. The data relates to the study evaluating the effects of SBT-272 in a murine model of amyotrophic lateral sclerosis (ALS). The company presented the data in the virtual 2021 annual Northeast Amyotrophic Lateral Sclerosis (NEALS) meeting, which was held on 6-7 October 2021. The dysfunction of mitochondria is one of the earliest pathophysiological events in ALS. SBT-272 is the novel and clinical-stage mitochondrion targeted product candidate and it is known to cross the blood-brain barrier. It has the potential to treat neuronal mitochondrial dysfunction. The preclinical study evaluated the effects of SBT-272 on mitochondrial function and morphology. The systematic administration of SBT-272 resulted in sustained SBT-272 levels in different regions of the brain of the recipient as well as it protected mitochondria against the ischemic stresses.

Q2 2021 financial results

In early August, MITO reported the financial results for the second quarter of the fiscal year 2021, which ended on 30th June. The operating expenses for the period stood at $10.99 million, against the same quarter in 2020, operation expenses were $11.92 million. The net loss attributable to common shareholders stood at $18.40 million, while for the same period of 2020, it was $12.36 million. The net loss per basic and diluted share, which was attributable to common shareholders, was $0.03, while for the same period of 2020, it remained at $0.02. The company had cash and cash equivalents of $30.76 million on 30th June. The total assets in possession of the company remained at $32.25 million, while the total liabilities were $58.57 million. Commenting on the results, Reenie McCarthy, Chief Executive Officer at Stealth said that the company continues to make important progress on developing innovative products and hopes to expand its business model in the future.

What lies next for MITO?

Statistics reveal that during last month, MITO stock has increased by over 4%. The stock has generally maintained a stable trend throughout the last 12 months. The 52 week high of MITO is $2.58, while the 52-week low is $1.06. Analysts believe that the recent progress with regards to SBT-272 could be a game-changer for the business of MITO.

Allogene Therapeutics, Inc. (ALLO) Stock Dipping in Aftermarket, Here’s Why

ALLO Stock
ALLO Stock

Allogene Therapeutics, Inc. (ALLO), a clinical-stage immuno-oncology company, has dipped 32.73% and hence, ALLO stock was trading at $16.40 when last checked. The reason for this massive decline seems to be the FDA clinical hold of AlloCAR T trials. On Thursday, ALLO stock closed the day at 24.338% after increasing 1.71%.

FDA hold over AlloCAR T trial

On Thursday, ALLO announced that US FDA has placed a holdover company’s AlloCAR T clinical trials following the report of a chromosomal abnormality in ALLO-501A CAR T cells in a patient treated in the ALPHA2 study. The company said that it expects to provide additional updates regarding the matter in the next few weeks following eh consultations with FDA. The FDA continues to actively review the end of phase-1 materials submitted in anticipation of the ALLO-501A pivotal phase-2 trial. The clinical hold came after the company’s notification of the FDA of a chromosomal abnormality in the ALPHA2 study patient. The abnormality was figured out in bone marrow biopsy which was undertaken to assess the low blood count. The investigation was underway to further characterize the observed abnormality which includes any clinical relevance, any evidence of clonal expansion, as well as the potential relationship to gene editing.

Q2 2021 financial results

In early August, ALLO reported the financial results for the second quarter of the fiscal year 2021, which ended on 30th June 2021. According to the details, the company generated collaboration revenue of $44,000 during the quarter. The total operating expenses for three month period were $71.07 million, while for an equivalent period of 2020, these were $63.15 million. The company suffered a loss of $71.02 million from the operations, while the loss from operations for an equivalent period of 2020 stood at $63.15 million. The net loss for three month period stood at $70.93 million, while for an equivalent three month period of 2020, the net loss hovered around $60.97 million. The net loss per basic and diluted share remained at $0.53 for the three months, while for an equivalent period of 2020, the loss per basic and diluted share was the same, i.e. $0.53. The company had cash and cash equivalents of $913.23 million on 30th June. The total assets stood at $1.12 billion, while total liabilities were $102.91 million.

What’s next for ALLO?

The ALLO stock has shown a dismal performance during the recent past, mainly due to some lacklustre quarterly performance as well as regulatory troubles. The recent FDA related issue has had a serious impact on ALLO stock, but analysts believe that ALLO stock could be on the way to success in the near future.

Vaxart, Inc. (VXRT) Stock Soaring in Aftermarket Trading Session, Here’s Why

VXRT Stock
VXRT Stock

Vaxart, Inc. (VXRT), a clinical-stage biotechnology company, has soared 10.72% in aftermarket trading session. Consequently, VXRT stock is changing hands at $7.85 at the time of writing. The increase has come after the positive study results about the impacts of Vaxart Covid vaccine candidate on Covid transmission. On Thursday, VXRT stock closed the day at $7.09 after declining 0.14% during regular hours.

Positive study results for VXRT Covid vaccine candidate

In the late hours of Thursday, a Duke University-led study showed that the VXRT investigational oral tablet vaccine reduced the airborne transmission of the SARS-CoV-2 virus in an animal model. The study showed that Vaxart’s oral vaccine platform could induce in the recipient robust mucosal and systemic response. The results are consistent with the ones from Vaxart’s Phase II human flu challenge study. The study showed that Vaxart’s oral tablet vaccine reduced shedding better as compared to injectable flu vaccine comparator. The currently approved injected Covid vaccines have a limitation that the airborne transmission could occur in the people who have received them. The researchers vaccinated hamsters orally or intranasally with Vaxart’s Covid vaccine candidate. Afterwards, they exposed them to a significant level of the Covid-19 virus. The vaccinated hamsters quickly cleared the infectious virus in their nose and lungs.

Q2 2021 financial results

On 5th August, VXRT reported the financial results for the second quarter of the fiscal year 2021, which ended 30th June 2021. According to the results, the company had cash and cash equivalents of $165.26 million on 30th June. The total assets in possession of the company remained at $228.84 million, while the total liabilities were $29.06 million. The revenue for three month period was $112,000, while for an equivalent period of 2020, it was $523,000. The total operating expenses for the period were $15.88 million, while for an equivalent period of 2020, these were $9.04 million. The company suffered a loss of $15.77 million from the operations, while during the equivalent period of 2020; the loss from operations was $8.52 million. The net loss for three month period was $16.11 million, while for an equivalent period of 2020; the net loss was $8.97 million. The net loss per basic and diluted share was $0.13 during the quarter, while during the equivalent three month period of 2020, it was $0.12.

Future for VXRT?

During the last month, VXRT stock has declined by more than 17%, but the recent developments, like the study by Duke University, could turn the tide in favour of VXRT stock in the coming months, according to the analysts. So, potential investors should keep a close eye on VXRT stock in the near future.

Sundial Growers Inc. (SNDL) Stock Surging in Aftermarket, Here’s Why

SNDL Stock
SNDL Stock

Sundial Growers Inc. (SNDL), a company engaged in the production and marketing of cannabis products, has surged 16.74% in aftermarket trading session and was trading at $0.76 when last checked. The reason for the increase could presumably be the acquisition of Alcanna Inc. by Sundial. On Thursday, SNDL stock closed the day at $0.65 after increasing 2.13% during regular trading hours.  

SNDL acquisition of Alcanna

SNDL announced on Thursday that it had entered into an agreement with Alcanna Inc. According to the details of the agreement, Sundial would acquire all of the issued and outstanding common shares of Alcanna through a statutory plan of arrangement for total consideration of about $346 million. Alcanna has experience of more than 25 years in retailing regular products. Sundial said that the agreement would provide it with stable cash generation and enhanced market exposure. Besides, the robust corporate support function at Alcanna would supplement Sundial’s Spiritleaf retail operations. Under the agreement, the shareholders of Alcanna would be able to participate in and help create the future for Sundial. The Alcanna shareholders would receive 10.69 common shares of Sundial for each Alcanna common share held. The purchase price was set at $9.12 per Alcanna share.

Q2 2021 financial results

On 12th August, SNDL reported the financial results for the second quarter of the fiscal year 2021, which ended on 30th June. The gross cannabis revenue for three month period was $12.73 million as compared to $24.34 million for an equivalent period of 2020. The cost of sales remained at $9.53 million as compared to $17.33 million for an equivalent period of 2020. The company bore a loss of $71.02 million from the operations, while during the equivalent period of 2020, it was $30.21 million. The net loss suffered by the company was $52.28 million, while for an equivalent period of 2020, it was $60.34 million. The net loss per basic and diluted share remained at $0.03, while for an equivalent period of 2020, it was $0.57. The company has cash and cash equivalents of $885.41 million on 30th June. The company had total assets of $1.41 billion.

What’s ahead for SNDL?

A detailed look at statistics reveals that SNDL stock has shown remarkable performance during the last year. It has increased by 194% during the period. But during recent months, i.e. during the last half-year, the stock has mostly seen a negative trend, partially because Cannabis is a high-risk business to get involved in. So, analysts believe that potential investors should think before making long term investments in SNDL stock.

EHang Holdings Ltd. (EH) Rising in Premarket After a Dip on Wednesday

EH Stock
EH Stock

EHang Holdings Ltd. (EH), an autonomous aerial vehicle (AAV) technology Platform Company, has grown 3.71% and was trading at $22.10 in premarket when last checked. The increase could be attributed to an agreement of collaboration between Ehang and the Spanish national police. On Wednesday, EH stock dipped 2.83% during regular hours and was trading at $21.31 at the close of the day.

EH collaboration with Spanish National Police

EHang announced to Wednesday to collaborate with the Spanish National Police. The collaboration was meant to explore the potential use cases for AAVs in emergency and security missions. The company made the first public exhibition of EHang 216 passenger-grade AAV in Spain at Cuatro Vientos Aerodrome in Madrid during the press day of Expodronica at the World Air Traffic Management Congress. Both EHang and Spanish National Police planned to coordinate for the usage of AAV in emergency conditions. They include rescue, surveillance, and other similar missions that are critical in the improvement of the quality of life and citizenry safety. The Spanish National Police and EHang would demonstrate the best utilization of AAV technology through trial flights, through coordination with the Polytechnic University of Valencia. That ultimately would lead to the exploration of safer and effective solutions for saving lives.

EH Q2 2021 financials

On 25th August, EHang reported the financial results for the second quarter of the fiscal year 2021, which ended on 30th June. The company had cash and cash equivalents of $49.54 million on 30th June. The total assets in possession of the company were $102.41 million, while total liabilities remained at $29.83 million. The total revenues for the period generated by the company stood at $1.88 million. The gross profit for the three month period was $1.28 million. The total operating expenses for the three month period were $13.21 million. The operating loss for the quarter stood at $11.60 million. The company suffered a net loss of $11.55 million. The net loss per basic and diluted share for three month period remained at $0.20. Commenting on the results, Mr. Huazhi Hu, EHang’s Founder, Chairman and Chief Executive Officer of EHang said that the company would continue moving towards its long-term strategic goal of becoming a UAM platform operator through accumulating solid momentum.

What’s ahead for EH

A close look at statistics reveals that the performance of EH stock in the last year has been excellent, although it has faced numerous setbacks in recent months, mainly due to accusations of elaborate stock promotion, as evident from recent partnerships and ventures of the company, it could enjoy big gains in near future.

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