Advaxis Posts Narrower Loss In Q3 – Quick Facts
Advaxis, Inc. (ADXS), a clinical-stage biotechnology company, reported a narrower loss in the third quarter due to reduced research and development expenses. The company noted that, following the closing of the proposed merger with Biosight, it will be renamed Biosight Therapeutics and will trade on the Nasdaq Capital Market under the ticker, BSTX.
Third-quarter net loss was $3.33 million compared to a loss of $5.83 million, prior year. Net loss per share was $0.02 compared to a loss of $0.09. Research and development expenses were $1.70 million, compared to $3.46 million, a year ago. The company said this decline was primarily attributable to the substantial reduction in costs associated with the winding down of clinical studies that have been discontinued.
As of July 31, 2021, the company had approximately $45.3 million in cash and cash equivalents.
“We are thrilled by the transformative potential of our proposed merger with Biosight and believe the opportunity to build a diversified clinical pipeline with both early and late-stage oncology assets will benefit both patients and our stockholders,” said Kenneth Berlin, CEO.
Dave & Buster’s Gains On Q2 Earnings
Dave & Buster’s Entertainment, Inc. (PLAY) shares are rising on Friday morning trade, after the company reported a swing to profit in the second quarter.
The company reported quarterly net profit of $52.77 million or $1.07 per share, compared to loss of $58.60 million or $1.24 per share last year.
Wall Street analysts were looking for earnings of $0.04 per share on revenue of $311.58 million.
Revenue for the quarter increased to $377.64 million from $50.83 million in the prior year.
For the third quarter, the company expects comparable store sales to be approximately in line with the quarter-to-date trends compared to third quarter 2019.
Currently, shares are at $37.65, up 6.25 percent from the previous close of $35.44 on a volume of 3,624,789. The shares have traded in a range of $13.01-$51.73 on a volume of 1,221,875.
Kroger Co. Q2 adjusted earnings Beat Estimates
Kroger Co. (KR) reported earnings for second quarter that fell from last year.
The company’s earnings came in at $467 million, or $0.61 per share. This compares with $819 million, or $1.03 per share, in last year’s second quarter.
Excluding items, Kroger Co. reported adjusted earnings of $610 million or $0.80 per share for the period.
Analysts had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 3.9% to $31.68 billion from $30.49 billion last year.
Kroger Co. earnings at a glance:
-Earnings (Q2): $610 Mln. vs. $581 Mln. last year.
-EPS (Q2): $0.80 vs. $0.73 last year.
-Analysts Estimate: $0.64
-Revenue (Q2): $31.68 Bln vs. $30.49 Bln last year.
Full year EPS guidance: $3.25 – $3.35
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Impel NeuroPharma Shares Slip 20%
Shares of Impel NeuroPharma, Inc. (IMPL) are slipping nearly 20% on Friday morning. The commercial-stage biopharmaceutical company announced public offering of 3 million common shares at $15.00 per share.
IMPL is currently trading at $17.14, down $3.99 or 18.88%, on the Nasdaq, on a volume of 1.9 million shares, above average volume of 427 thousand shares. The stock has gained over 60% in the past 3-month period.
The company expects gross proceeds from the offering to be $45.0 million. The offering is expected to close on September 14, 2021.
Sumo Logic Slips On Wider Loss In Q2
Sumo Logic, Inc. (SUMO) shares are down more than 9 percent on Friday morning trade after the company reported wider net loss of the second quarter, despite a slight increase in revenues.
The company recorded quarterly net loss of $32.05 million or $0.30 per share from $12.22 million or $0.66 per share in the previous year.
Revenue for the quarter increased to $58.84 million from $49.42 million last year.
Currently, shares are at $18.24, down 9.34 percent from the previous close of $20.12 on a volume of 1,862,828. For the 52-week period, the shares have traded in a range of $15.80-$46.37 on average volume of 1,211,175.
Why Are IVERIC Bio Shares Surging Over 60%?
Shares of IVERIC bio, Inc. (ISEE) surged over 60% on Friday morning despite no statement from the company to drive the shares. However, IVERIC’s stock must have benefited from the news that its rival, Apellis Pharmaceuticals’ (APLS) Phase 3 study of eye disease treatment failed to meet its primary endpoint.
ISEE is currently trading at $14.02, up $5.33 or 61.33%, on the Nasdaq, while APLS is currently trading at $31.46, down $24.15 or 43.43%.
IVERIC bio is a biopharmaceutical company that develops novel therapies to treat ophthalmic diseases with a focus on age-related and orphan inherited retinal diseases.
Apellis Pharmaceuticals announced that DERBY study of Pegcetacoplan for geographic atrophy or GA failed to meet the primary endpoint.
Dr. Anthony Fauci Spells Out How Far Away U.S. Is From Ending COVID-19 Pandemic
The U.S. is “still in pandemic mode” with new COVID-19 infections some 16 times higher than what’s needed to end the public health crisis, according to Dr. Anthony Fauci.
Fauci, director of the National Institute of Allergy and Infectious Diseases, said in an interview with Axios published Thursday that “the endgame is to suppress the virus.” But 160,000 new cases of the coronavirus per day is “not even modestly good control,” he declared.
“In a country of our size, you can’t be hanging around and having 100,000 infections a day,” Fauci explained. “You’ve got to get well below 10,000 before you start feeling comfortable.”
Last month, Fauci said the spread of the highly transmissible delta variant — responsible for a surge in infections, especially among unvaccinated people — could be largely contained by the spring of 2022 if an “overwhelming majority” receive the shot.
With more people inoculated with the vaccines, Fauci said, “you’ll still get some people getting infected, but you’re not going to have it as a public health threat.”