Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) Explodes on Outperform Rating

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) more than doubled in value after the biopharmaceutical company said it will make a key presentation at the 2017 Society for Immunotherapy of Cancer (SITC) Annual Meeting. The stock was also up by 123% after analysts at Wells Fargo upgraded the stock to an ‘outperform’.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Wells Fargo Upgrade

Thursday’s rally brought an end to a sell-off that has plagued the stock since April. The stock of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) came under pressure after rising to $3.50 a share, resulting in a drop below $1 a share. Infinity stock is now up by more than 130% for the year, after closing above $3.50.

Analysts at Wells Fargo believe the stock has some room to run on the upside as infinity Pharmaceuticals moves to make a presentation on IPI-549, an orally administered immuno-oncology development candidate.

IPI-549 has the potential to treat a broad range of solid tumors. Wells Fargo analyst Jim Birchenough believes the cancer therapy has a high likelihood of proof of concept data.

” … With likely validation of tumor macrophage targeting in immuno-oncology and a unique mechanism of action, we see upside potential not reflected at current stock price,” Birchenough said.

The analyst has since increased his share price target on the stock from $1 to $5 a share.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is to make a presentation on a Phase 1/1b clinical study which is evaluating the safety and activity of IPI-549. The company is investigating the candidate drug as a monotherapy and in combination with Opdivo for patients struggling with advanced tumors. Reports indicate that IPI-549 could be the only P13K-gamma inhibitor in clinical development.

Wider Than Expected Net Loss

Development of IPI-549 and the Wells Fargo update has helped renew investor interest in infinity Pharmaceutical after a wider than expected second-quarter net loss triggered a sell-off. The biopharmaceutical company reported a net loss of (-$0.34) cents a share wider than consensus estimates of a net loss of (-$0.22) cents a share.

Since Infinity Pharmaceuticals Inc. (NASDAQ:INFI) does not have any approved product in the market, it likely needs to get everything right on the development of IPI-549 if it is to continue trading at higher levels. The company did not generate any revenues in the recent quarter compared to collaboration revenues of $9.5 million reported last year – mostly from royalty, license and milestone payments.

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.

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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.

xG Technology Inc. (NASDAQ:XGTI)

xG Technology Inc. (NASDAQ:XGTI) Receives Eye-Popping Order

xG Technology Inc. (NASDAQ:XGTI)

xG Technology Inc. (NASDAQ:XGTI) shares fell 3.80% after the leading provider of wireless video solutions for law enforcement and defense markets announced a new order for its Vislink business. The new order, worth $535,000, from NEP UK, is for the company’s latest Vislink HEVC 4K capable HCAM Wireless Camera systems.

$2 Million Pre-orders

The Focal Point Camera Control systems are to be used at the 2018 Winter Olympics in South Korea. The HCAM system represents the next generation of 4K UHD wireless transmitters which is capable of supporting premium live broadcast events.

“This commitment from NEP further solidifies our relationship, and continues to highlight the market confidence in the HCAM with pre-orders now over $2 million,” said James Walton, president of IMT, Ltd.

xG Technology Inc. (NASDAQ:XGTI) market consolidation continued in Wednesday’s trading session. While the stock is up by more than 10% for the year, it continues to trade in a range after dropping from $2.50 – recorded in July.

xG Technology Inc. (NASDAQ:XGTI)

MicroLite 2 HD Launch

Separately, xG Technology Inc. (NASDAQ:XGTI), through its business unit IMT Vislink, has introduced a compelling solution for capturing real-time, high quality on camera video for electronic newsgathering. MicroLite 2 HD is the new ultra-compact COFDM wireless video transmitter designed to provide enhanced performance and video quality at a competitive price point.

The video transmission system can deliver up to 250Mw of power and provides low range, reliable HD transmission. A key advantage of MicroLite compared to other solutions in the market is its ability to operate at low latency levels and so is well suited for live sports broadcasts and video assists applications.

“With the MicroLite 2, broadcast professionals are able to transmit high definition video within a small form factor, while utilizing its lightweight design for Steadicam operations, event coverage, confidence monitoring, web content programming, rental houses and drone use,” said John Payne IV president of IMT USA.

In addition, xG Technology Inc. (NASDAQ:XGTI) has confirmed the appointment of Eric Haney as the new Regional Sales Manager focusing on unmanned systems across all markets throughout North America. According to Mr. Payne, his expertise will be invaluable in identifying business opportunities with the government, military as well as on commercial applications where the systems can be used to deliver considerable advantages.

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 $XGIT Symbol 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.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) To Unveil New Features

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

Shares of Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) gained 5.93% after the exoskeleton technology company said it will showcase new features for its EksoGT wearable exoskeleton at an event in Denver. The company plans to showcase how its SmartAssist and EksoPulse can be used to provide personalized patient care at the 2017 American Academy of Physical Medicine and Rehabilitation (AAPM&R) Annual Assembly.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

EKSO Stock Catalyst

During the event slated for October 12-15, 2017, the exoskeleton company will demonstrate how the FDA cleared exoskeleton can be used for stroke and spinal cord rehabilitation. Clinicians will be given an opportunity to explore the technology first hand and learn more about its clinical benefits.

The event presents an opportunity for Ekso Bionics to market its exoskeleton in a bid to strengthen investors’ confidence for its long-term prospects. The company needs a catalyst to bounce back from current trading levels after dropping to multi-year lows.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) is down by more than 60% for the year, and is underperforming the overall industry. The stock is currently trading in a strong downtrend and at risk of dropping below $1, the minimum requirement needed for continued listing on the NASDAQ.

According to data compiled Zack Investment Research, Ekso stock is currently rated as a ‘strong buy’ by three investment firms, ‘hold’ by eight and ‘sell’ by 2.

The EksoGT exoskeleton could be the catalyst to bolster investor confidence. The device is designed to enable individuals to stand up and walk with a full weight bearing reciprocal gait. The SmartAssist technology, on the other hand, is a next-generation gait therapy software that enables personalized therapy.

Ekso Bionics’ Capital Raise

Separately, Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) has announced the results of a previously announced rights offerings. The company says it generated gross proceeds of $34 million from the offering including an investment of $20.5 million from Puissance Capital Management.

“The capital raised through this financing will provide us with additional resources to further advance the adoption and development of our innovative exoskeleton solutions in both the rehabilitation and industrial verticals. We are pleased to have Puissance Capital as a new investor as they share our vision for innovating products,” said CEO, Thomas Looby.

In addition, Ekso Bionics has confirmed the appointment of Ted Wang into its board of directors. He joins the company with a strong track record of successful, strategic and financial management. He also boasts deep knowledge of Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)’s technology, products and end markets.

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 $EKSO 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.

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)

Helios and Matheson Analytics Inc. (NASDAQ:HMNY) Keeps Rising

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)

Helios and Matheson Analytics Inc. (NASDAQ:HMNY) traded higher in Monday’s trading session as investors continue to take note of the company’s latest acquisition, MoviePass. The stock was up by 33.9% on viral subscriber growth.

HMNY Stock Performance

HMNY is up by more than 400% for the year, investor confidence on the stock having been strengthened by the acquisition of a majority stake in MoviePass. The stock is currently trading at multi-year highs as it closes in on its 52-week high of $23.49 a share.

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)

The stock’s impressive performance has to do with a milestone that MoviePass has achieved in recent weeks. The technology company has surpassed 400,000 paying monthly subscribers over the past month – up from less than 20,000 in August.

MoviePass Subscriber Growth

The robust subscriber growth has mostly come from an innovative technology that learns subscriber’s tastes and makes recommendations. Reduction of the monthly subscription to $9.95 also had a positive impact.

A survey on MoviePass subscribers shows that most of them decided to start watching movies in theaters because of the MoviePass subscription service. The company expects its subscription base to grow to 2.5 million paying subscribers over the next 12 months.

A decision by Netflix, Inc. (NASDAQ:NFLX) to increase the prices of its subscription plans has also been a blessing in disguise for the Helios and Matheson Analytics subsidiary. The price increase has essentially made MoviePass offerings relatively cheap, thereby bolstering subscriber’s and investor’s excitement.

MoviePass is the ‘all-you-can-eat’ movie theater experience. Though expensive for the company in the short-term, it’s a significant benefit and more convenient for customers. With MoviePass, there’s no movie ticket prices to think about — going to the movies will become an everyday experience rather than an occasional treat,” said MoviePass CEO Mitch Lowe.

In a bid to attract more subscribers and a keep studios happy, Helios and Matheson Analytics Inc. (NASDAQ:HMNY) has started to use artificial intelligence and algorithms to provide studios with precise data for effective advertising. Movie theaters have already reported a 400% increase in attendance attributable to MoviePass.

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 $HMNY 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.

LiNiu Technology Group (NASDAQ:LINU)

LiNiu Technology Group (NASDAQ:LINU) Signs Strategic Agreements

LiNiu Technology Group (NASDAQ:LINU)

LiNiu Technology Group (NASDAQ:LINU) experienced a surge in stock price in Friday’s trading session, following the launch of an electronic trading platform dedicated to the Chinese agricultural industry. Shares of the company more than doubled in value, after gaining 115% to end the week at $2.35 a share.

LiNiu Technology Group (NASDAQ:LINU)

LINU Stock Performance

Friday’s rally follows a sell-off wave that had plagued the stock and pushed it to multi-year lows. While the stock is up by more than 40% for the year, it is still down by more than 70% from the $4.20 a share mark that was recorded in June.

Renewed investor interest in the stock follows the signing of a strategic cooperation agreement with The Peoples Insurance Company of China Limited’s (PICC) Guangzhou branch. Pursuant to the agreement, the two are to work on the development of new insurance products tailored for local farmers and the greater agriculture industry.

Guangzhou LiNiu will also promote PICCs insurance products on its LiNiuYang trading platform as part of the agreement.

“We are pleased to be working closely with PICC to help further enhance our presence in Guangdong province while devising new products in concert with PICC that should provide additional benefits to customers of our LiNiuYang platform,” said Mr. Wang Shun Yang, co-Chief Executive Officer of LiNiu Technology Group.

SGALP Collaboration

The PICC agreement builds on a strategic cooperation agreement that LiNiu Technology Group (NASDAQ:LINU) signed with Shou Guang Agriculture Logistic Park. (SGALP). Under the terms of the agreement, the two companies are to co-operate on product offerings, information resources, and consumer management.

LiNiu Technology Group (NASDAQ:LINU) expects the collaboration to increase its annual trading amount. Guangzhou LiNiu, on the other hand, is to earn additional commission income through an increase in daily traffic on its platform.

“We are pleased to embark on our new relationship with SGALP, which we believe will be a key strategic alliance that should provide a significant boost to our LiNiuYang platform, while allowing us to further utilize our technological capabilities to the benefit of SGALP,” said Mr. Wang Shun Yang, co-Chief Executive Officer of LiNiu Technology Group (NASDAQ:LINU).

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 $LINU 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.

MannKind Corporation (NASDAQ:MNKD)

MannKind Corporation (NASDAQ:MNKD) Spikes On Afrezza New Insulin Label

MannKind Corporation (NASDAQ:MNKD)

MannKind Corporation (NASDAQ:MNKD) shares gained 40.1% after the U.S. Food and Drug Administration approved a favorable label change for Afrezza. Human Insulin, Afrezza, is now approved for glycemic control in adult patients with type 1 and type 2 diabetes. According to the company, it is the only inhaled rapid-acting mealtime insulin available in the United States.

The biopharmaceutical company has also confirmed that it successfully exchanged new common stock for outstanding warrants issued last year. The exchange strengthened investors’ confidence as it showed the company’s commitment to cleaning up opportunities for capital flexibility.

MNKD Stock Performance

MannKind Corporation (NASDAQ:MNKD) has gained more than 100% since the start of the month. However, the stock is up by more than 30% for the year. The stock is currently trading at 14-month high and traders are waiting to see if it will continue to rise after registering a new 52 week high of $6.51 a share.

MannKind Corporation (NASDAQ:MNKD)

Afrezza’s new label has revitalized investor confidence on the stock. The biotech company has been under pressure as investors reacted negatively to anemic sales reports. However, the label change should unlock the product’s blockbuster potential.

Afrezza New Label

The new label update includes data that describes the action profile by dosage strength as well as clarity on starting and adjusting mealtime dosage. To conform with current FDA guidance, the label also includes updated pregnancy lactation section.

“These data articulate the rapid-acting nature of Afrezza to address post-prandial hyperglycemia, setting it apart from other mealtime options available to help patients maintain greater control over their blood glucose levels,” said Satish Garg, MD, MBBS, DM — Barbara Davis Center for Diabetes (BDC) – University of Colorado.

Mannkind’s Financial Woes

MannKind Corporation (NASDAQ:MNKD) needs to capitalize on the new label if it is to continue rising higher in the market. The company still faces a string of changes after exiting the recent quarter with only $44 million in cash. Observers question if that amount will be sufficient to support operations going forward.

The company may have to look for additional funds to be able to ramp up the Afrezza commercial launch. Investors may wish to consider bracing themselves for secondary offerings given the spike in MNKD stock.

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 $MNKD 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.

Streamline Health Solutions Inc. (NASDAQ:STRM) Expands Relationship

Streamline Health Solutions Inc. (NASDAQ:STRM)

Shares of Streamline Health Solutions Inc. (NASDAQ:STRM) gained 75.82% after the provider of integrated solutions announced the sale of its cloud-based technology, eValuator. According to the Chief Executive Officer, David Sides, the sale builds on a strong relationship with a west-coast based audit service client that began in 2016.

eValuator Performance

Streamline Health Solutions Inc. (NASDAQ:STRM) is currently trading at all-time highs following the 75% gain. The stock is up by more than 80% for the year.

Streamline Health Solutions Inc. (NASDAQ:STRM)

EValuator is designed to help improve healthcare provider’s financial performance, by moving mid-to late revenue cycle interventions upstream. It also optimizes coding accuracy for every patient encounter, prior to submission. Improvement in coding accuracy allows providers to reduce revenue leakage, mitigate overbill risk and reduce denials and days in A/R

“It’s great to work with innovative healthcare providers that are truly committed to the health of the communities they serve and constantly looking for ways to improve overall financial performance as it funds their mission. With eValuator, our code auditing technology can help them further improve their financial performance by reviewing all coded patient records before they are billed,” said Mr. Sides.

Q2 Financial Results

Separately, Streamline Health Solutions Inc. (NASDAQ:STRM) reported revenues of $5.9 million for the three months ended July 31, 2017, representing a 20% decrease from $7.4 million reported in Q2 2016. Revenue for the first six months of the year was down 9% compared to the corresponding period last year.

Net loss for the quarter stood at (-$1.1) million compared to a net loss of (-$0.7) million reported last year. Net loss for the first six months of the year widened to (-$3.1) million compared to (-$2.2) million reported last year.

The sale of eValuator follows the sale of auditing services to four new clients during the second quarter. While the new contracts are small in terms of initial revenue contribution, Streamline Health Solutions Inc. (NASDAQ:STRM) should be able to grow its business ties with the clients.

“Our pipeline for our new Streamline Health eValuator™ remains robust. We closed a new client after the second quarter ended which we believe will be one of many throughout the second half of our fiscal year,” said Mr. Sides.

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 $STRM 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.

Medical Transcription Billing Corp (NASDAQ:MTBC)

Why Medical Transcription Billing Corp (NASDAQ:MTBC) Boomed

Medical Transcription Billing Corp (NASDAQ:MTBC)

Shares of Medical Transcription Billing Corp (NASDAQ:MTBC) more than doubled in value after the provider of health and cloud-based clinical and practice management solutions announced the launch of talkEHR. The stock was up by 109% as the company confirmed the signing of customers in 42 states for the next generation electronic health records solution.

MTBC 200% Rally

Tuesday’s rally capped an impressive run as Medical Transcription Billing Corp (NASDAQ:MTBC) continues to trade in an uptrend. MTBC is up by more than 200% for the year and is outperforming the overall industry. It awaits to be seen if the stock will continue to rise as it closes in on its 52-week high of $3.84 a share.

Medical Transcription Billing Corp (NASDAQ:MTBC)

Investor confidence on the stock has strengthened in recent days on reports that talkEHR continues to receive an overwhelming positive response from physicians. The next generation SaaS HER solution is designed to utilize natural language processing and artificial intelligence to automate key components of patient charting. The platform also provides solutions for electronic claims submission, electronic prescriptions, and appointment scheduling.

Medical Transcription Billing Corp (NASDAQ:MTBC) is currently offering the software at no charge. However, users who wish to upgrade to full-service package will have to pay the company 2.95% of physician’s revenues.

“We’re very pleased to have already signed new talkEHR clients representing 30 unique specialties, spanning across 42 states plus Guam and Puerto Rico. talkEHR is a phenomenal addition to our fully integrated, industry leading, cloud-based and mobile platform and we expect it to play an important role as we continue to expand our customer base,” said Karl Johnson SVP Sales and Marketing.

Debt Repayment

Separately, Medical Transcription Billing Corp (NASDAQ:MTBC) has made the final payment of $5 million for the acquisition of New Jersey-based medical billing company MediGain. The payout follows the settlement of the company’s debt with Opus Bank.

Medical Transcription Billing Corp (NASDAQ:MTBC) got funds for the repayment of the debt and the MediGain transaction from the issuance of 240,000 shares of convertible Series A preferred stock. The company generated gross proceeds of $6 million from the offering.

According to MTBC president, Stephen Snyder, repayment of the two transactions combined with year over year growth leaves the company well positioned for continued 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 $MTBC 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.

Endocyte, Inc. (NASDAQ:ECYT)

Endocyte, Inc. (NASDAQ:ECYT) Signs Licensing Agreement

Endocyte, Inc. (NASDAQ:ECYT)

The stock price of Endocyte, Inc. (NASDAQ:ECYT) more than doubled in value after the biopharmaceutical company announced the completion of a licensing agreement with ABX for a Phase 3 ready prostate cancer drug. The stock was up by 157.5% in Monday’s trading session, to end the day at $3.63 a share.

The rally helped reverse a strong selling pressure that had pushed the stock to multi-year lows. ECYT has since recorded a new 52-week high of $3.75, waiting to see if it will continue to rise. The stock is also up by more than 20% for the year after gapping higher in Monday’s trading session.

Endocyte, Inc. (NASDAQ:ECYT)

Endocyte-ABX Licensing Agreement

Under the terms of the licensing agreement, Endocyte, Inc. (NASDAQ:ECYT) owns exclusive worldwide rights for the development and commercialization of the prostate cancer candidate drug 177PSMA-617. The biopharmaceutical company is also to make an upfront payment of $12 million to ABX.

Endocyte, Inc. (NASDAQ:ECYT) has also agreed to grant ABX 2 million shares of its common stock and warrants for the purchase of up to 4 million additional shares. ABX is also entitled to regulatory and commercial milestones payments totaling up to $160 million.

Lu-PSMA-617 Prospects

Lu-PSMA-617 is a radioligand designed to target the prostate-specific membrane antigen present in 80% of patients with metastatic castration-resistant prostate cancer. According to the Chief Executive Officer, Mike Sherman, the candidate drug has the potential to be the first in class RLT, for addressing both bone and soft tissue disease.

The drug has already shown a remarkable 57% PSA response rate. The studies show the drug to be well tolerated with low rates of adverse effects and no renal toxicity.

“We intend to seek regulatory approval to initiate a Phase 3 registration trial of 177Lu-PSMA-617 in early 2018. By focusing the company’s resources on the execution of this program, we project trial completion as early as 2020,” said Mr. Sherman.

First developed at the DFKZ (German Cancer Research Center), PSMA-617 has so far been evaluated in hundreds of patients through both compassionate and prospective trials. Preliminary clinical trial results indicate that the drug has the potential to be a promising target in prostate cancer especially in areas where the disease has become resistant to current therapies.

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 $ECYT 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.

Shareholders of Root9B Holdings Inc. (NASDAQ:RTNB) in Limbo

Root9B Holdings Inc. (NASDAQ:RTNB)

Shares of Root9B Holdings Inc. (NASDAQ:RTNB) gained 44.2% after the company announced foreclosure auction results. Pursuant to a Security Agreement entered with secured creditors, auction of the company’s assets resulted in $12.5 million – representing the total outstanding principal and unpaid interest owed to secured creditors.

Root9B Holdings Inc. (NASDAQ:RTNB)

T-12 Halt Code

Root9B Holdings Inc. (NASDAQ:RTNB) no longer has any operating assets following the sell-off – the company no longer has the ability to generate revenues.

The company’s Chief Executive Officer, Eric Hipkins, has since resigned from his position with immediate effect. The NASDAQ capital market has also halted raring of the stock under the T-12 halt code. Trading of the stock will remain halted until the company satisfies regulators request.

The halting of the stock follows the rise of the stock to the $2.01 mark. However, the stock continues to trade in a strong downtrend after losing more than 70% in market value since the start of the year.

Root9B Acquisition

Root9B Holdings Inc. (NASDAQ:RTNB) has confirmed that it has agreed to be acquired by an affiliate of Tracker Capital Management.

“Root9B is delighted to announce our new ownership, which provides us the capital required to eliminate debt from our balance sheet and fund our strategic growth initiatives. Our team remains committed to bringing experience, excellent service, and next-generation cyber solutions to our clients,” said Eric Hipkins, Root9B Holdings Inc. (NASDAQ:RTNB) Chief Executive Officer.

Information on the acquisition is still sketchy. However, reports indicate that Root9B will operate as an independent and private company with no affiliation to Root9B Holdings Inc. (NASDAQ:RTNB) which happens to be the parent company.

Root9B Holdings Inc. (NASDAQ:RTNB) would face an uncertain future in the stock market should the NASDAQ allow it to continue operating as a public company. The fact that the company does not have revenue generating avenues following the sale of key assets is another point of concern that could affect investors’ confidence on the stock.

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 $RTNB 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.