Stock News Staff

CLS Holdings USA Inc. (OTCMKTS:CLSH) Share price Stays Strong Despite DOJ Comments

Last week a fund of marijuana-based stocks dropped more than 9 percent in value and, as a sign of how mainstream marijuana has become. Most shares dipped only intraday after the DOJ commented that the feds and the states are not finished butting heads over recent widespread legalization.

Last Thursday may well turn out to be a pivotal moment in the marijuana industry’s evolution as a political force. Nearly 70 percent of Americans believe in some form of legalized marijuana, but does the nascent industry have the sway to rewrite nearly 50 years of federal drug policy? Or will it remain a splintered coalition of investors, libertarians, concerned parents of sick kids, cancer sufferers, and traumatized veterans, who have the numbers but not the concentrated lobbying effort necessary to once and for all remove marijuana from the crosshairs of federal drug enforcement?

Stock Analysis

A push by the company to strengthen its cannabis production capabilities appears to have strengthened investors’ confidence on its long-term prospects. The stock is currently trading in an uptrend after gaining more than 50% in response to recent positive news.

For the full year, CLS Holdings USA Inc. (OTCMKTS:CLSH) is up by more than 80%. Given the strength of the upward momentum, the stock should be able to register a new 52-week high as it is currently trading in tight $0.70 to $0.75 range. Lower immediate support looks to be the $0.60 mark. CLS Holdings USA Inc. (OTCMKTS:CLSH) closed the year just off the December high of $0.94 as it continues to affirm plans to double its cannabis growth production capacity.

Recent News

Jan 8…  Here’s the comments from management that was released today regarding the comments from AG Jeff Sessions: http://www.marketwired.com/press-release/cls-holdings-usa-comments-on-recent-department-of-justice-guidance-otcqb-clsh-2244191.htm

Jan 3 … The company announced that it has received a notice of allowance from the U.S. patent office for its proprietary extraction and conversion methodology.

The proprietary extraction process differs from others that typically use ethanol, supercritical CO2 or butane. The resulting finished product is cleaner and provides for more Delta 9 THC. The Company intends to deploy its proprietary extraction and conversion technology upon completion of its pending acquisition of Oasis Cannabis. Additionally, the Company will look to license its patented extraction process.

Jeff Binder, Chairman and CEO of CLS, stated, “Extraction is a very important and valuable process as the quality and value of the finished product is largely impacted by the quality of its extraction. We are focused on increasing yields and the quality of yields and feel our process gives us a major leg up relative to others in the industry. We have dedicated considerable amounts of resources to this endeavor and to receive this allowance from the US patent office is a milestone for the company. I am truly appreciative of all the efforts and contributions of our team and wish to personally thank our chief scientist and co-founder, Ray Keller.”

Acquisition
Dec. 11… Oasis is an exciting acquisition target as it is set to expand CLS Holdings USA Inc. (OTCMKTS:CLSH) footprint in the business of growing, extracting and processing cannabis products for retail. The company comes into the deal with a growing, conversion and extraction facility that produced $150,000 in gross revenue last month.

The acquisition should be of great benefit to CLS Holdings on the fact that Oasis already generates revenues and has permits to operate dispensaries and deliver products to end consumers.
The parent company also stands to use its proprietary extraction methods to increase the yields from Oasis grow and cultivation businesses. CLSH may also scale Oasis retail business by opening franchises throughout Nevada as well as in other states that have approved marijuana sale.

In addition, the company’s cash balance destined to receive a significant boost upon the closing of the definitive acquisition agreement given that Oasis dispensary serves over 300 customers on a daily basis.
“Since we began this process to acquire Oasis Cannabis a couple of months ago, we have witnessed firsthand its growth and traction in visitors and revenue. We are very pleased with the trends at its grow and retail dispensary and are enthusiastic to move forward to an anticipated closing in the first quarter of 2018,” said CEO, Jeff Binder.

Management Appointment

The appointment of, David Lamadrid, as the President and Chief Financial Officer appears to have strengthened investor confidence in CLS Holdings USA Inc. (OTCMKTS:CLSH). He joins the company with vast experience in management and finance required to lead the firm through the next phase of growth.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions. All information, including any data, is provided without any guarantees of accuracy.

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Marathon Patent Group Inc. (NASDAQ:MARA)’s Q3 Revenues Grows 280%

Marathon Patent Group Inc. (NASDAQ:MARA)

Marathon Patent Group Inc. (NASDAQ:MARA) traded higher after the company reported Q3 financial results that beat Wall Street expectations. Shares of the company gained 5.04% in Monday’s trading session to end the day at $1.46 a share.

Marathon Patent Group Inc. (NASDAQ:MARA)

MARA Stock Performance

The company generated revenues of $163 million for the three months ended September 30, 2017, up from revenues of $43,000 reported in Q3 2016. Operating loss for the period dropped to $3.9 million, compared to $10.7 million reported last year.

Despite the 5% rally, Marathon Patent Group Inc. (NASDAQ:MARA) is still trading in a downtrend. The IP licensing company has shed more than 70% in market value and is currently trading near its 52-week low of $0.50 a share.

Last month, the company was forced to initiate a reverse stock-split of its common stock in a bid to shore up its share price. The split was primarily intended to bring the company in compliance with the minimum average closing share price for continued listing in the NASDAQ Capital Market. A 4:1 reverse stock-split consequently reduced the company’s common stock from approximately 32.4 million shares to approximately 8.6 million shares.

Investor’s sentiments on the stock appear to have hit all-time lows despite the company making huge strides on revenue growth. It awaits to be seen if the stellar Q3 financial results is the catalyst that will help push the stock from current lows.

GBV Acquisition

In a bid to strengthen investor confidence in the stock, Marathon Patent Group Inc. (NASDAQ:MARA) announced the acquisition of Global Bit Ventures. The acquisition is part of the company’s plan to diversify its areas of operations. The company is currently eyeing growth opportunities in the digital currency space with the acquisition.

Global Bit Ventures joins Marathon Patent Group Inc. (NASDAQ:MARA) with a robust infrastructure around cryptocurrencies, with significant capability for expansion. The company boasts of a technology that powers and secures blockchains by operating custom hardware and software. It also owns 250GH/s of GPU mining servers.

“We previously expressed our intent to review alternative business directions with the goal of enhancing shareholder value. We believe the acquisition of Global Bit Ventures will take advantage of an ongoing revolution in digital transactions conducted on blockchains as we see increasing adoption and proliferation of blockchain protocols in our everyday lives,” said CEO, Doug Croxall.

According to GBV CEO, the merger marks an important milestone and sets the company on course for accelerated revenue growth

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $MARA and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Egalet Corp (NASDAQ:EGLT) Awarded Grant

Egalet Corp (NASDAQ:EGLT)

Shares of Egalet Corp (NASDAQ:EGLT) gained 1.49% after the company received a grant for the development of a novel oral delivery system for targeting therapeutic areas outside of pain. The grant from InnoBooster is for the development of a delivery system using the company’s Guardian technology.

Egalet Corp (NASDAQ:EGLT)

InnoBooster Grant Award

According to the Chief Executive Officer, Karsten Lindhardt, the grant provides non-dilutive funds for the research project. The funds will cover most of the external expenses needed for the preclinical stage of development.

“We believe the grant from InnoBooster demonstrates the breadth of applications of our Guardian Technology. This provides a fantastic opportunity for us to use a novel approach to potentially develop oral formulations of products that would normally be delivered via injection,” said Mr. Lindhardt.

Egalet Corp (NASDAQ:EGLT) continues to trade in a downtrend despite receiving support from a string of positive news in recent weeks. The specialty pharmaceutical company has shed more than 80% in market value since the start of the year. EGLT stock is currently languishing near its all-time lows and in dire need of a catalyst to motivate buyers .

Egalet-002 Development

Investor sentiments in the stock recently received a boost after the company reported topline results from a Phase 3 safety study evaluating safety of Egalet-002. The company is investigating Egalet-002 as an abuse deterrent using its proprietary Guardian Technology.

Trial results indicate that the abuse deterrent formulation was well tolerated. Adverse events reported were consistent with outcomes expected following treatment with oxycodone formulation.

“We believe the positive phase 3 safety study result validates this unique application of our Guardian Technology which was used to develop our abuse-deterrent, extended-release oxycodone, Egalet-002Given the ongoing issues of chronic pain and prescription abuse, we continue to believe there is a need for products like Egalet-002,” said CEO, Bob Radie.

In addition, Egalet Corp (NASDAQ:EGLT) is evaluating the safety and efficacy of Egalet-002 in patients with moderate-to severe chronic pain. The specialty pharmaceutical company exited the quarter with cash and cash equivalent of $102.1 million. According to the Chief Executive Officer, the cash balance and increased focus on non-narcotic innovative treatments strategically positions the company to play an important role in the prescription abuse crisis.

Separately, Egalet Corp (NASDAQ:EGLT) reported a net loss of (-$18.9) million or (-$0.46) a share for the three months ended September 30, 2017 compared to a net loss of (-$26.9) million reported last year. Net revenue in the quarter increased to $6.7 million from $4.7 million as of Q3 2016.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $EGLT and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Sunshine Heart Inc (NASDAQ:CHFS) Stocks Skyrockets on SEC Filing

Sunshine Heart Inc (NASDAQ:CHFS)

Short-sellers of Sunshine Heart Inc (NASDAQ:CHFS) felt the pain today as the stock rocketed up over 500% in early afternoon trading, but have hit strong resistance at the $25 mark. While there has been no news released concerning the company, reports suggesting a catalyst for the upward move reference an SEC filing for a public offering of preferred stock and warrants.

Sunshine Heart Inc (NASDAQ:CHFS)

The filing details a potential offering of preferred shares and warrants totaling $32 million. The unit offering involves $10 million of preferred shares and $22 million of common shares that would be exercisable by the warrant holder(s). The 10,000 preferred shares would be exercisable into 2.141 million common shares of CHFS. The 22 million warrants could be converted into 4.282 million common shares of CHFS. The pricing of the public offering was not disclosed in the filing. In April, 2017, CHFS stock plunged 30% on the news of a dilutive offering of common shares.

About Sunshine Heart

A cardiac surgeon founded Eden Prarie, MN-based Sunshine Heart, Inc (NASDAQ:CHFS). Sunshine Heart is a medical device company that creates, develops, and commercializes technologies that address heart failure. The EU regulatory authorities have granted a CE Mark to their C-Pulse Heart Assist System. In the USA, the system is undergoing clinical studies to determine its safety and efficacy for the treatment of moderate to severe heart failure.

Sunshine Heart, Inc (NASDAQ:CHFS) lead product is the Aquadex FlexFlow® ultrafiltration system. The Aquadex FlexFlow system removes excess fluid from patients suffering from fluid overload who have failed diuretic therapy. Heart failure is the leading cause of fluid overload. The American Heart Association estimates that 6.5 million people in the United States, age 20 and over, had heart failure. There are an estimated 960,000 new heart failure cases annually. Annual hospitalizations for heart failure exceed 1 million in United States and Europe, and more than 90% are due to symptoms and signs of fluid overload.

CHFS Stock Developments

On October 10, 2017, Sunshine Heart, Inc (NASDAQ:CHFS) stockholders approved, later approved by the Board of Directors, a reverse 1:20 stock split. That move was in response to a notification from The NASDAQ Stock Market LLC informing Sunshine Heart that they were no longer in compliance with the minimum bid price requirement, as the bid price of shares of CHFS common stock closed below the minimum $1.00 per share threshold for 30 consecutive business days. Nasdaq also notified the company that they had 180 calendar days, or until November 28, 2017, to regain compliance.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CHFS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Sunworks Inc (NASDAQ:SUNW)

Sunworks Inc (NASDAQ:SUNW) Dim

Sunworks Inc (NASDAQ:SUNW)

Sunworks Inc (NASDAQ:SUNW) stock is down over 16%, to $1.16, after the solar power equipment provider released Q3 2017 earnings. This would mark a new 52-week low for SUNW stock. According to Zacks Investment Research, analysts were expecting EPS to come in at $0.02, but the Roseville, CA-based company reported a net loss of (-$0.09), or $2 million.

Sunworks Inc (NASDAQ:SUNW)

Sunworks Inc (NASDAQ:SUNW) was formerly known as Solar3D, Inc. The company provides solar power solutions. Sunworks designs, installs, and manages solar power systems for commercial, agricultural, residential and municipal customers in the western United States. Its solutions deliver over 2.5 kilowatts to multi-megawatts commercial systems. It also provides energy solutions and services to retail customers. Its services include project management and installation support, solar energy performance assessments, solutions consultations, materials and equipment procurement support, as well as rebates and incentives management.

SUNW Stock Performance

Sunworks Inc (NASDAQ:SUNW) earnings have been generally negative and inconsistent. In 2012 the company posted a per share loss of (-$0.42). That loss was followed by annual losses of (-$0.59) and (-$2.15). Then, in 2015, Sunworks posted a per share profit of $0.06, but then, for 2016, another loss of (-$0.46) was posted.

Sales have been on an upward trajectory though. In 2014 the company reported sales of $20.2 million and, by 2016, that number expanded to $86.4 million.

Diluting shareholder equity has been a constant issue for holders of SUNW stock. In 2012 there were 4.93 million shares outstanding. Unfortunately, by 2016, that number ballooned to 20.23 million.

All three investment firms that follow Sunworks Inc (NASDAQ:SUNW) rate SUNW shares as a “Strong Buy”. Their consensus, one-year price target is $2.67.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $SUNW and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Nova Lifestyle Inc (NASDAQ:NVFY)

Nova Lifestyle Inc (NASDAQ:NVFY) Stock Meeting Sellers at $1.80 – Again

Nova Lifestyle Inc (NASDAQ:NVFY)

Shares of Nova Lifestyle Inc (NASDAQ:NVFY) have, in the last 60 days, tried twice to close over the $1.80 mark and twice sellers have stepped in to push the stock back down. Today volume is heavy for the furniture manufacturer – almost nine times the listed daily average. The company has announced it will be releasing its Q3 2017 earnings report before the market opens on Monday, October 13, 2017.

Nova Lifestyle Inc (NASDAQ:NVFY)

Nova Lifestyle Inc (NASDAQ:NVFY) is headquartered in Commerce, California. The company designs, manufactures, and distributes modern LifeStyle furniture – primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova’s products are made and marketed in the US, Europe, and Asia and include LifeStyle brands such as Diamond Sofa, Nova QwiK, and Bright Swallow International.

NVFY Stock

Nova Lifestyle Inc (NASDAQ:NVFY) has a surprisingly low cash per share figure of just $0.01. However, traders have been pushing the stock up since early September when the stock was trading around the $1.10 handle. In the past quarter, NVFY stock has gained over 30%. For the year, shares are down over 45%.

Sales revenue has been flat since 2014 when the company reported a figure of $98.7 million – its best showing to date. After that, the company posted sales in 2015 at $89.9 million, and, for 2016, $92.6 million. During that time the number of outstanding shares has increased – diluting shareholder equity. In 2014 there were a reported 20.38 million shares outstanding. That number increased to 25.43 million by the end of 2016.

2016 represents the first year of negative earnings for the company since 2012 when it had a per share profit of $0.29. Last year the company posted a per share loss of (-$0.01).

According to available resources, no investment firms follow Nova Lifestyle Inc (NASDAQ:NVFY).

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $NVFY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Zosano Pharma Corp (NASDAQ:ZSAN)

Zosano Pharma Corp (NASDAQ:ZSAN) Q3 Net Loss Widens

Zosano Pharma Corp (NASDAQ:ZSAN)

Zosano Pharma Corp (NASDAQ:ZSAN) shares gained 3.70% after the clinical stage biopharmaceutical company reported financial results and an operational update for Q3 2017. The unveiling of the financial results comes a day after the company initiated long-term safety study of zolmitriptan in migraine patients.

Zosano Pharma Corp (NASDAQ:ZSAN)

Zosano’s Net Loss

Zosano generated a net loss of (-$7.9) million or (-$0.20) a share in the third quarter, a slight increase from a net loss of (-$7.4) million, or (-$0.52) a share, reported last year. It awaits to be seen how investors will react to the wider than expected net loss as the stock continues to trade in a downtrend.

The stock has shed more than 70% in market value since March an underperformance that has plunged it to this year’s lows. Zosano Pharma Corp (NASDAQ:ZSAN) is currently trading near its 52-week low of $0.48 and in dire need of new catalyst if it’s to bounce back.

Research and development expenses in the quarter increased to $5.7 million from $5.1 million reported in Q3 of 2016. General and Administrative expenses remained unchanged at $2 million. Zosano exited the quarter with cash and cash equivalent of $19.8 million debt of $8.2 million and 39.2 million common shares outstanding.

During the quarter, the clinical stage biopharmaceutical company made important strides in the development of its pipeline of drugs. In September, the company presented data from Phase 2/3 ZOTRIP study evaluating M207 as a novel treatment for a migraine.

“The company continues to execute on our path to an NDA, including the initiation of our long-term safety study on November 7 and the continued scale up of manufacturing to support potential commercialization, pending approval of M207 by the FDA,” said CEO, John Walker.

Share Purchase Agreement

Separately, Zosano Pharma Corp (NASDAQ:ZSAN) has entered into a common share purchase agreement with Chicago-based institutional investor, Lincoln Park Capital Fund LLC. Pursuant to the approval of the SEC, the company is to sell shares worth $35 million to the investor.

Under the terms of the agreement, Zosano Pharma Corp (NASDAQ:ZSAN) is to control the timing and the amount of any investment by LPC. The investor will also be required to make purchases based on the purchase agreement and prevailing market prices at the time of each sale.

Zosano Pharma Corp (NASDAQ:ZSAN) plans to use proceeds from the purchase agreement to fund long-term study of its lead product candidate M207, and for general corporate purposes.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ZSAN and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ)

Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) Q3 Financials Highlight Growth

Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ)

Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) gained 4.37% after reporting financial results for the three and nine months ended September 30, 2017. According to their Chief Executive officer, Adrian Adams, performance in the quarter underscore strength in underlying business and growth in the U.S and Canada.

Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ)

ARLZ Stock Performance

Investors’ confidence on the stock has taken a hit in recent months as seen by the stock trading in a downtrend. Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) is down by more than 50% for the year. It awaits to be seen if the better than expected financial results have what it takes to push the stock higher.

According to Mr. Adams, Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) is on the path to profitability given the performance in third quarter.

“We are delighted with the evolution of Zontivity®, the improved outlook for the Toprol-XL® franchise in the U.S. and the continued strong performance of the Canadian business. As a result of this performance, we updated our 2017 financial guidance and now expect full-year net revenue to be in the range of $95 million to $105 million,” said Mr. Adams.

Aralez Cost Cuts

Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) plans to carry out further financial reforms as part of an effort that seeks to accelerate growth heading into the year end. The efforts chould result in a leaner, yet efficient, performance oriented operating model. The improvements are geared towards streaming operations in the U.S with a view of delivering profitability that support growth.

Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) plans to trim its Selling, General and Administrative expenses by $32 million or 28%, as part of a cost cutting drive. Expense reductions will include reductions in the amount of money spent on marketing, professional and consulting fees.

Aralez Q3 Financials

Revenues for the three months ended September 30, 2017 totaled $24.3 million nearly double revenues of $13.6 million reported last year. Selling General and Administrative expenses dropped to $24.7 million, from $25.4 million generated in the third quarter of last year.

Net loss in the quarter increased to (-$24.4) million or $0.37 a share, compared to a net loss of (-$20.6) million reported in Q3 2016. Aralez Pharmaceuticals exited the third quarter with cash and cash equivalent of approximately, $40.7 million, sufficient to fund operations over the next 12 months.

Buoyed by the growth phase transition, Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) has revised its full year outlook. The pharmaceutical company now expects revenues of between $95 million and $105 million for the full year, from an initial guidance of between $80 million and $100 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ARLZ and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Smart Sand Inc. (NASDAQ:SND)

Smart Sand Inc. (NASDAQ:SND) Revenues Surge 260%

Smart Sand Inc. (NASDAQ:SND)

Shares of Smart Sand Inc. (NASDAQ:SND) gained 15.12% after the low cost producer of high-quality Northern White raw frac sand reported its best-ever quarter. Revenue for the three months ended September 30, 2017, increased 260% year-over-year, due to higher sales volumes and increased freight revenues.

Smart Sand Inc. (NASDAQ:SND)

According to Chief Executive Officer Charles Young, performance in the quarter underscored the company’s focus on maximizing production and effective management of railcar movements.

“Market demand for our high quality, Northern White frac sand remains strong and we look forward to bringing our additional 2.2 million tons of annual production capacity online by the end of the first quarter of 2018,” said Mr. Adams.

The sentiments appear to have strengthened investors’ confidence in the stock as it continues to bounce back from this year’s low. However, Smart Sand is still trading in a downtrend after losing more than 60% in market value since February.

According to data compiled Zacks Investment Research, Smart Sand Inc. (NASDAQ:SND) is currently rated as a ‘strong buy’ by five Wall St. analyst firms.

Smart Sand Q3 Financial Results

Revenues for the three months ended September 30, 2017 totaled $39.3 million. Smart Sand Inc. (NASDAQ:SND) attributes the 260% increase to customers billed through freight charges as well as increased sales volumes. Revenue in the quarter was also up by 32% compared to the second quarter, due to the higher average selling price.

Smart Sand sold a total of 653,400 tons in the quarter representing a 184% year over year increase from 229,600 tons sold last year. The number of tons sold in the quarter also represented a 23% increase from the second quarter.

Smart Sand Inc. (NASDAQ:SND) generated a net income of $7 million or $0.17 a share in the quarter compared to a net loss of (-$0.1) million reported last year. Adjusted EBITDA totaled $11.4 million nearly triple $4.5 million reported during the third quarter of 2016. Smart Sand attributes the increase to increase in sales volume and higher average selling price per ton.

Capital expenditure in the quarter totaled $19.9 million mostly attributed to expansion works at the Oakdale sand processing facility and investment in various enhancement and cost improvement projects.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $SND and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX)

AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX)’s Posts Unexpected Net Loss

AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX)

Shares of AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) fell 5.13% in after-hours trading on Thursday as investors reacted to the company’s Q3 financial results. A wider than expected net loss for the three and nine months ended September 30, 2017, appears to have spooked investors and fueled a sell-off of the stock.

DSUVIA NDA Woes

Investor confidence on the stock has hit an all-time low in the wake of the U.S. Food and Drug Administration issuing a Complete Response Letter to the company’s new drug, Dsuvia. The stock plunged to a new 52-week low of $1.95 after the regulator rejected a New Drug Application (NDA) for the drug, pending submission of additional safety data.

AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) has shed more than 60% in market value over the past one month as investors remain skeptical about Dsuvia prospects following the FDA verdict. Disappointing Q3 financial results could accelerate the stock’s sell-off given that the company has no approved products in the market. Its growth is mostly pegged on the success of its opioid analgesics pipeline which under development.

The specialty Pharmaceutical Company has submitted an application for a Type A meeting with the FDA. The meeting is to be used to shed more light on all the requirements that the company must meet as it eyes DSUVIA NDA resubmission.

AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) has already filed a marketing authorization application in Europe.

“DSUVIA remains our core asset as we believe the recommendations in the CRL are manageable. In addition, we successfully completed the ZALVISO Phase 3 study requested by the FDA, and remain focused on providing physicians and patients with non-invasive pain management options for moderate-to-severe acute pain within medically supervised settings,” said CEO, Vince Angotti.

AcelRx Q3 Financial Results

For the three months ended September 30, 2017, AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) generated a net loss of (-$13) million or (-$0.28) a share, compared to a net loss of (-$11.4) million generated last year. Net loss from operations totaled (-$8.9) million compared to (-$8) million during the third quarter of last year. Net Loss for the first nine months of the year increased to (-$41.4) million from (-$33.5) million as of last year.

Revenue in the quarter totaled $1.5 million made up of $1.2 million related to a collaboration with Grunenthal. Revenue for the nine months ended September 30, 2017, totaled $7.2 million. R&D and G&A expenses for the third quarter totaled $8.3 million and $28.4 million for the nine months ended September 30, 2017.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ACRX and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.