healthpharma
Healwell AI (TSX: AIDX) has had an impressive turnaround, making it one of the best-performing Canadian technology companies this year. Its stock is already up by over 100% in 2024, helped by its investments in Artificial Intelligence (AI), its partnership with Well Health Technologies, and its improving balance sheet. It has jumped by ~620% in the past 12 months, beating popular AI names like Nvidia (NVDA) and SoundHound AI (SOUN). Turnaround continuesHealwell AI, formerly known as MCI OneHealth, has implemented a strong turnaround that has saved the company from bankruptcy. Before this turna...
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Akanda Corp (NASDAQ: AKAN) is in focus this morning after receiving a notice of non-compliance from Nasdaq. Akanda fails to satisfy the Nasdaq listing requirementsThe deficiency notification was issued to the international medical cannabis company because it failed to meet the “minimum stockholders’ equity requirement as set forth in Nasdaq Listing Rule 5550(b)(1). $AKAN failed to satisfy the alternative compliance standards “based on market value of listed securities or net income from continuing operations” as well, a press release confirmed on Friday. Note that Akanda stock saw a massive de...
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Walgreens Boots Alliance Inc (NASDAQ: WBA) is gaining at writing following a report that it’s contacting buyers who may be interested in taking over Boots. What is Boots UK worth?The drugstore chain based out of Nottingham, United Kingdom is worth close to $9.0 billion. Walgreens has already engaged with advisors to hold preliminary talks with the potential buyers, as per sources that talked to Bloomberg on condition of anonymity. What the Nasdaq-listed firm plans on doing with proceeds provided that it does indeed secure a deal remains unclear. Lowering the debt on its balance sheet, however,...
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iTeos Therapeutics Inc (NASDAQ: ITOS) is up 30% today after announcing plans of a registered direct offering. iTeos Therapeutics stock pops on Q1 earningsThe biotechnology company will sell a total of 1,142,857 shares at $17.50 each which translates to a 44% premium on its previous close. The offering will also include “pre-funded warrants to purchase up to 5,714,285 shares”, as per its press release on Friday. Also today, $ITOS said it lost $38.2 million or $1.07 per share in Q1. That came in up significantly from a $15.6 million loss or 44 cents per share in the same quarter last year. Still...
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Novavax (NASDAQ:NVAX) shares rocketed 40% in premarket trading Friday, driven not only by the company’s fiscal Q1 2024 earnings report but more significantly, by a crucial multi-billion dollar deal with French pharmaceutical giant Sanofi SA. Despite reporting a first-quarter loss per share of $1.05, wider than the $0.92 anticipated by analysts, and revenue of $93.85 million which fell short of the consensus estimate of $141.16 million, the announcement of the partnership spurred a dramatic increase in Novavax’s stock value. Novavax’s deal with Sanofi boosts investor confidenceThe licensing agr...
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CytomX Therapeutics Inc reported favourable results for its ongoing trial of CX-904 on Thursday. Shares of the biotech firm are still down about 30% at writing. CX-901 shows favourable safety profileThe PROBODY T-cell engager showed anti-cancer properties in a Phase 1a clinical study of patients with advanced pancreatic cancer. CX-904 has an adequate safety profile as well to be administered in an outpatient setting, as per the press release on Thursday. The data “opens broad new possibilities for T-cell engagers across many targets and cancer types”, Sean McCarthy – the chief executive of Cyt...
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Clover Health (NASDAQ: CLOV) stock price went parabolic on Wednesday as investors cheered the company’s financial results, forward guidance, and share repurchase program. It surged by over 18%, its best daily performance since August last year. Clover Health, a former meme stock, published strong results as it moved towards profitability. Its total revenue rose to over $346 million in the quarter, higher than the $321 million it made in the same period in 2023. Most importantly, the company had its first adjusted EBITDA profit ever as it rose to $6.8 million. Also, it continued to narrow its n...
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Ocugen (NASDAQ: OCGN) stock price has launched higher since last year, helped by the rising hopes that OCU400 will be approved by the Food and Drug Administration (FDA). The stock surged by over 378% from its lowest point in September and by 183% this year. OCU400 could be a gamechangerOcugen is a biotech company that gained popularity during the Covid-19 pandemic as it worked on OCU500, a Covid vaccine. At the time, its stock surged to a high of $17.46, giving it a market valuation of over $12 billion. Now, the focus among investors has turned to OCU400, a new drug that will treat a rare cond...
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Moderna Inc (NASDAQ: MRNA) reported a narrower-than-expected loss for the first quarter of the year, setting a positive tone as it prepares to launch its second product in the U.S. market later this year. Moderna beats loss estimates, revenue expectationsIn the first quarter, Moderna recorded a net loss of $1.175 billion, or $3.07 per share, which was less than the anticipated loss of $3.56 per share according to FactSet consensus. This marks a significant shift from the net income of $79 million, or 19 cents per share, reported in the same period last year. Despite the steep year-over-year de...
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This morning, pharmaceuticals company Novo Nordisk reported triumphant Q1 2024 financial results before markets opened. One of the more memorable highlights was certainly the fact that Novo Nordisk’s sales increased by 22% in Danish kroner (by 24% at constant exchange rates) to DKK 65.3 billion for the period. Profits up by over a quarterMeanwhile, operating profit increased by 27% in Danish kroner and by 30% at constant exchange rates (CER) to DKK 31.8 billion. This effectively meant that the company’s profits for the quarter increased by more than 25% Why are Novo Nordisk’s profits up 27%?Th...
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