CASI Pharmaceuticals Inc. (NASDAQ:CASI)

Cellectar (NASDAQ: CLRB) Jumps 35% on Expansion of Phase 2 Trial

Cellectar Biosciences (NASDAQ: CLRB), a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, today announces that the company will increase the targeted patient enrollment in the relapsed/refractory (R/R) multiple myeloma (MM) cohort of its currently enrolling Phase 2 clinical trial of CLR 131. Data from the MM cohort of the study demonstrated that the treatment exceeded pre-specified criteria for clinically meaningful benefit. As a result, the cohort will be expanded up to as many as 40 patients.

About the Phase 2 Study of CLR 131
The Phase 2 study is being conducted in approximately 10 leading cancer centers in the United States for patients with relapsed or refractory B-cell hematologic cancers.

About CLR 131
Cellectar (CLRB) developed CLR 131 as an investigational compound under development for a range of orphan designated cancers. It is currently being evaluated as a single-dose treatment in a Phase I clinical trial in patients with R/R MM as well as in a Phase II clinical trial for R/R MM and select R/R lymphomas with either a one- or two-dose treatment. Based upon preclinical and interim Phase I study data, treatment with CLR 131 provides a novel approach to treating solid and hematological tumors and may provide patients with therapeutic benefits, including overall survival, an improvement in progression-free survival, surrogate efficacy marker response rate, and overall quality of life.

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: 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.

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.

Jaguar Health Inc. (NASDAQ:JAGX)

Jaguar Health Inc. (NASDAQ:JAGX) Reports Stellar Q3 Financial Results

Jaguar Health Inc. (NASDAQ:JAGX)

Jaguar Health Inc. (NASDAQ:JAGX) fell 2.7% after reporting its first quarterly financial results after merging with Napo Pharmaceuticals. The commercial stage natural-products pharmaceuticals company generated a net income of $4.75 million for the three months ended September 30, 2017.

Jaguar Health Inc. (NASDAQ:JAGX)

Jaguar’s Revenue Growth

Jaguar Health Inc. (NASDAQ:JAGX) is still trading in a downtrend despite posting stellar financial results for the third quarter. The stock has shed more than 50% in market value since the start of the year as short sellers continue to push the stock lower. It awaits to be seen, the kind of impact that the Napo Pharmaceuticals merger will have on investor sentiments in the stock heading into the year-end.

According to data compiled by Zacks Investment Research, despite the underperformance, Jaguar Health Inc. (NASDAQ:JAGX) is currently rated as a “Strong Buy” by two analysts.

Net revenue in the quarter came in at $1.1 million made up of $346,000 for Mytesi, $82,000 for Neonorm and approximately $655,000 in collaboration revenue. Total net revenue for the third quarter of 2016 was $50,000. Average sales of Mytesi have increased over 50% since August.

“With the onboarding of three additional HIV sales personnel this month, and the refilling rate of Mytesi® prescriptions for a chronic disease, we expect continued growth for future Mytesi® sales,” said Lisa Conte, Jaguar Health Inc. (NASDAQ:JAGX)’s president, and CEO.

Mytesi revenue continues to increase because of increased marketing, advertising, medical education and promotional activities. Mytesi is a prescription treatment for diarrhea that works by normalizing the flow of water in the GI tract. It is the only FDA approved antidiarrheal therapy for the symptomatic relief of non-infectious diarrhea in adult patients.

For the first nine months of the year, revenue increased to $2.8 million compared to $113,000 reported last year. Jaguar Health Inc. (NASDAQ:JAGX) expects further growth in revenue heading into the year-end due to an increase in human-product revenue.

HIV Scientific Advisory Board

Separately, Dr. Roscoe Moore has joined the HIV Scientific Advisory board recently formed by Jaguar Health Inc. (NASDAQ:JAGX)’s wholly owned subsidiary, Napo Pharmaceuticals. The board will focus on physician education and global awareness regarding the importance and availability of solutions for neglected comorbidities.

“Neglected comorbidities such as HIV-related diarrhea play a significant role in patient adherence to ART Efforts to expand awareness about available solutions, such as Mytesi®, that address specific comorbidities play an important role in maximizing health and wellness in this population,” said Dr. Moore.

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 $JAGX 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.

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) Reports Q3 Earnings

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) shares dropped over 7%, on heavy volume, after the biotech company reported their Q3 2017 financial results. EBIO shares opened at $0.74, then dropped to a low of $0.64 before closing at $0.69. At current levels, EBIO shares are trading below their published cash per share value of $0.71, and their book value per share figure of $1.05.

Eleven Biotherapeutics Inc (NASDAQ:EBIO)

Eleven Biotherapeutics Inc (NASDAQ:EBIO) is a late-stage, clinical oncology company that develops therapies for cancer patients based upon the company’s proprietary targeted protein therapeutics (TPTs) platform. The company’s TPTs incorporate a tumor-targeting antibody fragment and a cytotoxic protein payload within a single protein molecule in order to achieve focused tumor cell killing. Eleven Biotherapeutics believes its TPT approach offers significant advantages in treating cancer over existing antibody drug conjugate technologies. Eleven Biotherapeutics promotes the idea that its TPTs provide effective tumor targeting with broader cancer cell-killing properties than generally achievable other treatments that require tumor cell proliferation to be effective and can face challenges overcoming multi-drug resistance mechanisms within tumor cells.

In November, Eleven Biotherapeutics Inc (NASDAQ:EBIO) completed a public offering of 5,525,000 shares of its common stock, pre-funded warrants to purchase an aggregate of 4,475,000 shares of common stock, and common warrants to purchase up to an aggregate of 10,000,000 shares of common stock, raising approximately $8.0 million in gross proceeds and $7.0 million in net proceeds.

Eleven Biotherapeutics Q3 Earnings

Eleven Biotherapeutics Inc (NASDAQ:EBIO) did not record any revenue for Q3 2017. In Q3 2016, the company reported revenue of $28.7 million. This difference was due to revenue recognized in 2016 from the company’s license agreement with Roche. Roche’s next licensing milestone payment will be triggered upon commencement of a Phase 2 clinical trial by Roche.

Net loss for Q3 2017 was (-$9.1) million, or (-$0.37) per share, versus net income of $19.5 million, or $0.95 per basic share and $0.91 per diluted share, for the same period in 2016. The change was primarily the result of revenue recognized in 2016 from the company’s license agreement with Roche.

Research and development expenses were $3.6 million, compared to $2.8 million for the same period in 2016. Cash and cash equivalents were $11.3 million.

EBIO Stock Performance

Per share earnings for the biotech company have been on an upward trend ever since 2013, when the company reported a loss of (-$16.19). Losses contracted annually and in 2016 a EPS profit of $0.01 was posted. Last year, due to the Roche licensing agreement, the company reported some sales of $30 million. A number that that could be considered “material” for the first time in its existence. However, the company has a consistent history of diluting shareholder equity. In 2013 the number of outstanding shares stood at 1.35 million, then continued to expand on an annual basis. In 2016 the company ended the year with 21.08 million shares outstanding.

For the year, EBIO shares have lost 70%, and, for the month, the shares have lost 45% in value. Despite performance that lags the markets, and its sector, EBIO shares are rated “Market Perform” and “Strong Buy” by the two investment firms that follow the company. Their consensus, one-year price target is $12.

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 $EBIO 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.

Acasti Pharma Inc (NASDAQ:ACST)

Acasti Pharma Inc (NASDAQ:ACST) Booms on Possible Deal

Acasti Pharma Inc (NASDAQ:ACST)

Acasti Pharma Inc (NASDAQ:ACST) stock was up over 155%, to $3.25, before retreating in the first 45 minutes of trading to the $2.25 handle for a 75%+ gain over Friday’s close of $1.27. Volume has been massive – almost 1,900 times the daily average. The move comes after the biopharmaceutical company announced entering into a non-binding, licensing term sheet with a leading China-based pharmaceutical company.

Acasti Pharma Inc (NASDAQ:ACST)

Acasti Pharma Inc (NASDAQ:ACST), headquartered in Quebec, Canada, is a biopharmaceutical company that is developing the cardiovascular drug, CaPre (omega-3 phospholipid), for the treatment of hypertriglyceridemia. This condition affects an estimated one third of the U.S. population. The company’s strategy is to initially develop and commercialize CaPre for the 3 to 4 million patients in the U.S. with severe hypertriglyceridemia.

Acasti Deal

At this stage, the licensing deal is non-binding. Upon its execution, the proposed term sheet expects that Acasti would receive an upfront payment of $8 million, additionally there would be regulatory and commercial milestone payments in excess of $125 million, and tiered double-digit royalties on net sales.

The deal grants an exclusive license to the Chinese pharmaceutical company to commercialize CaPre in China and other specified Asian countries. With the high prevalence of hypertriglyceridemia in Asia, this potential partnership presents a significant commercial opportunity for both Acasti Pharma Inc (NASDAQ:ACST) and CaPre.

Acasti’s press release specifies that the deal is not yet agreed to, and conditions and terms may change from those that have been released to the public.

ACST Stock Performance

Shares of Acasti Pharma Inc (NASDAQ:ACST) have been largely flat for the year, losing 5.2% prior to today’s price action. It has been trading in a range between $1.20 and $1.40 for most of 2016 and 2017, but briefly spiked to hit a 52-week high of $2.46.

In August, the company reported its Q1 2018 financial results. Its net loss was C(-$2.8) million or C(-$0.19) per share which was an improvement on its performance for the same period of the prior year when the loss was C(-$3.2) million or C(-$0.29) per share.

Acasti Pharma Inc (NASDAQ:ACST) has a low float figure of 8.1 million shares which makes it a favorite of momentum traders. ACST stock has a Relative Strength Index score of 90 which places it well into the metric’s range that most observers consider to be in “overbought” status.

ACST shares have a listed one-year target share price of $8.21.

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 $ACST 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.

Catalyst Biosciences Inc (NASDAQ:CBIO) shares have come off their early morning high of $9.00, bounced off $5.50 level and now trading above $6 handle.

Catalyst Biosciences Inc (NASDAQ:CBIO) Sees Morning Volatility

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc (NASDAQ:CBIO) shares have come off their early morning high of $9.00, bounced off the 45.50 level and are now trading above the $6 handle. Volume, as of 10 AM EST, is already at 1.2 million shares. CBIO shares have a listed daily average of just over 271,000. The company has released no news, or made any filings, that could account for the morning’s volatility.

Catalyst Biosciences Inc (NASDAQ:CBIO)

Catalyst Biosciences Inc. (NASDAQ:CBIO) is a clinical-stage biopharmaceutical company focused on developing novel medicines to address hematology indications. Catalyst is focused on the field of hemostasis, including the subcutaneous prophylaxis of hemophilia and facilitating surgery in individuals with hemophilia. Catalyst’s most advanced program is a potent next-generation coagulation Factor VIIa variant, marzeptacog alfa (activated), that has successfully completed an intravenous Phase 1 clinical trial in individuals with severe hemophilia A or B.

CBIO Stock

In February, Catalyst Biosciences Inc. (NASDAQ:CBIO) underwent a reverse stock split to stay in compliance with NASDAQ rules regarding low priced stock. Dilution has been an issue for shareholders of CBIO. In 2013, there were 20,000 shares outstanding. By the end of 2016 that number had ballooned to 780,000.

Sales have also been going in the wrong direction. In 2012 Catalyst reported sales of $57.9 million. However, that figure was just $400,000 for FY 2016. On a diluted adjusted basis, EPS loss for 2013 was -$409.30. That loss shrank steadily and the EPS loss for CBIO was -$21.75 for 2016.

Of particular note is that the company reports a cash per share value of $6.35. Shares are trading around that level this morning. Analysts have given CBIO shares a rating of “Strong Buy”. Their consensus, one-year price target is $12.33.

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 $CBIO 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.

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) Market Value Almost Triples!

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) Market Value Almost Triples!

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC)

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) shares nearly tripled in market value after the holding company reported Q3 financial results that exceeded Wall Street expectations. Revenue for the three months ended September 30, 2017, nearly doubled as net loss dropped by two thirds.

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) Market Value Almost Triples!

CADC Stock Performance

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) stock is currently trading at this year’s highs and close to its 52-week high of high of $9.75 a share. The better than expected financial results appear to have strengthened investor confidence in the company, as the stock had been trading in a downtrend.

Over the past one month, the stock has performed along a premium change of 7.5%. For the past three months, the stock is up by more than 13.1%. However, it is down by 6.5% for the past six months.

The stock grabbed analysts’ attention after spiking on unusual volume. More than 19.31 million shares exchanged hands in Thursday’s trading session compared to a 3-month average volume of 0.02 million and a daily average trading volume of 15.5k shares.

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) conducts its primary business through subsidiaries. The company engages in the production of construction materials for infrastructure, commercial and residential developments.

Government and industry associations have certified the company’s products. It also boasts of a leading position in the large, highly fragmented ready-mix market concrete market.

CADC Q3 Financial Results

For the three months ended September 30, 2017, the construction company reported revenues of $13.8 million, up from revenues of $7.5 million reported in the corresponding period last year. Cost of revenue surged to $12.3 million from $8.41 million. China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) generated a gross profit of $1.4 million compared to $952,412 reported last year.

“Our management believes that we have the ability to capture a greater share of the Beijing market via expanding relationships and networking, signing new contracts, and continually developing market-leading innovative and eco-friendly ready-mix concrete products,” China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) in a statement.

Net loss for the three months ended September came in at $545,590 compared to a net loss of $5.3 million reported last year. China Advanced Construction Materials exited the quarter with cash and cash equivalent of $923,882 compared to $8.2 million as of the same period last year.

China Advanced Constructn Mtrls Grp Inc. (NASDAQ:CADC) has a Return on Assets of -25.40%. Return on Investment currently stands at -20.55 which means its operations costs outweigh returns.

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 $CADC 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.

Egalet Corp (NASDAQ:EGLT)

Egalet Corp (NASDAQ:EGLT) Moves on Topline Trial Results

Egalet Corp (NASDAQ:EGLT)

Egalet Corp (NASDAQ:EGLT) was a big mover after announcing top-line trial results from a phase 3 safety study of its abuse-deterrent oxycodone formulation Egalet-002. Shares of the company gained 38.55% after it emerged the formulation was well tolerated, and adverse events reported were consistent with expected outcomes.

Egalet Corp (NASDAQ:EGLT)

Egalet-002 Top Line Results

According to the Chief Executive Officer, Bob Radie, the positive Phase 3 safety study results validates the company’s Guardian technology, which is being used to develop abuse-deterrent formulations of prescription medications.

Last year, Egalet Corp (NASDAQ:EGLT) reported positive top-line result from a category 3 intranasal human abuse potential study of Egalet. The formulation is currently in late-stage development for the management of pain severe enough to require daily, long-term opioid treatment for which other treatment options are inadequate.

Despite the 38% rally, Egalet Corp (NASDAQ:EGLT) continues to trade in a downtrend after underperforming the overall industry for the better part of the year. The stock has shed more than 80% in market value since the start of the year and is currently trading near all-time lows. Shares of the company closed at $1.15, last year they were trading at $5.58 a share.

Despite the underperformance, the Chief Executive Officer remains bullish about the company’s long-term prospects as they move to address the prescription abuse crisis.

“With 124% prescription growth and 41% revenue growth for our marketed products over last year’s third quarter, we continue to grow our business With a cash position of $102.1 million and the increased focus on non-narcotic and innovative treatments to alleviate pain,” said Mr. Radie

For the three months ended September 30, 2017, Egalet Corp (NASDAQ:EGLT) registered a 101% increase in Nasal Spray prescriptions over the third quarter of 2016. The company also partnered Ascend Therapeutics to begin promotion of SPRIX Nasal Spray to over 11,000 target women healthcare providers.

Egalet Q3 Financial Results

Net product sales for the third quarter came in at $6.7 million compared to $4.7 million reported last year. Cost of sales was $1.2 million up from $914,000 as of last year and reflected the average cost of inventory produced and dispensed to patients. General and Administrative expenses dropped to $6.8 million from $8 million as of the corresponding period last.

Egalet Corp (NASDAQ:EGLT) generated a net loss of (-$18.9) million in Q3 2017 or (-$0.46) a share, compared to a net loss of (-$26.9) million or (-$1.10) reported last year. The earnings exceeded Wall Street expectations as analysts were expecting a net loss of (-$0.47) cents a share. The integrated specialty pharmaceutical company exited the quarter with cash and cash equivalent of $102.1 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 $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.

Avid Technology, Inc. (NASDAQ:AVID)

Avid Technology, Inc. (NASDAQ:AVID) Unveils New Video-over-IP Interface

Avid Technology, Inc. (NASDAQ:AVID)

Shares of Avid Technology, Inc. (NASDAQ:AVID) gained 14.74% after the global media technology provider unveiled its latest addition to the Avid I/O family of hardware interfaces. Avid Artist DNxIP is the new Thunderbolt 3 equipped I/O device, designed to enable the transfer of SMPTE standard HD video over 10GigE IP networks.

Avid Technology, Inc. (NASDAQ:AVID)

Avid Artist DNxIP

Built in partnership with AJA and powered by MediaCentral, Avid Artist DNxIP should eliminate the challenges of managing physical resources commonly associated with legacy video routing. It should also give customers more flexibility in the way they route video within their facilities.

“DNxIP is the next evolution of our development efforts with Avid, a trusted technology partner. We’re excited to be teaming up with them again on a next-generation hardware option that meets the needs of professional IP workflows,” said Nick Rashby, President, and AJA Video Systems.

Avid Technology, Inc. (NASDAQ:AVID) has received a lot of attention due to the recent volatility of its stock. AVID stock is currently trading in an uptrend after gaining more than 40% in market value since the start of the month. For the full year, the stock is up by more than 30%.

Stellar Q3 Results

Renewed investor interest in the stock follows the announcement of better than expected third quarter financial results. Avid Technology, Inc. (NASDAQ:AVID) exceeded guidance on revenue and bookings in the recent quarter as it recorded growth in key metrics. Improvement in adjusted EBITDA drove the company to the fourth consecutive quarter of positive adjusted cash flow.

Avid Technology reported a net income of $72,000 for the third quarter as revenue came in at $105.3 million, above the upper-end of guidance. During the quarter, the company signed several multiyear deals that are expected to lead to further revenue growth in the fourth quarter.

For the fourth quarter, Avid Technology, Inc. (NASDAQ:AVID) expects bookings of between $112 million and $126 million and revenues of between $103 million and $113 million.

“The completion of the transformation in the second quarter of 2017 has positioned us to drive profitable growth, increase revenue visibility and cash flow. In the third quarter, we achieved meaningful growth across bookings, revenue excluding pre-2011 and eliminating PCS, adjusted EBITDA and adjusted free cash flow,” said CEO, Louis Hernandez.

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 $AVID 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.