EDU Shares Rise 5%

Horizon Therapeutics: FDA Approves Expanded Labeling For KRYSTEXXA With Methotrexate

Horizon Therapeutics plc (HZNP) announced the FDA has approved the supplemental Biologics License Application expanding the labeling to include KRYSTEXXA injection co-administered with methotrexate, for adults living with uncontrolled gout. The expanded labeling for KRYSTEXXA with methotrexate is based on the results from the MIRROR randomized controlled trial.

“We anticipate this approval will encourage more physicians to recommend KRYSTEXXA with methotrexate to help their patients with uncontrolled gout receive the full benefits of KRYSTEXXA,” said Elizabeth Thompson, executive vice president, research and development, Horizon.

For More Such Health News, visit rttnews.com.

Upstart Holdings Slashes Q2 Outlook; Stock Down 18%

While announcing preliminary unaudited financial results for the second quarter on Friday, AI lending marketplace Upstart Holdings, Inc. (UPST) slashed its expectations for the second quarter.

For the second quarter, the company said it now projects a net loss in a range of $31 million to $27 million on revenues of about $228 million.

Previously, the company expected a net loss in the range of $4 million to $0 million on revenues between $295 million and $305 million.

The company said inflation and recession fears have driven interest rates up and put banks and capital markets on cautious footing.

“Our revenue was negatively impacted by two factors approximately equally. First, our marketplace is funding constrained, largely driven by concerns about the macroeconomy among lenders and capital market participants. Second, in Q2, we took action to convert loans on our balance sheet into cash, which, given the quickly increasing rate environment, negatively impacted our revenue,” added Dave Girouard, co-founder and CEO of Upstart.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

MTY Food Group Inc Q2 Income Rises, Beats Estimates – Update

(Adds dividend)

MTY Food Group Inc (MTY.TO) reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company’s bottom line came in at C$28.61 million, or C$1.17 per share. This compares with C$23.02 million, or C$0.93 per share, in last year’s second quarter.

Analysts on average had expected the company to earn C$0.96 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 19.6% to C$162.51 million from C$135.85 million last year.

dividend:

The company declared a quarterly dividend of C$0.21 per share, payable on August 15, to shareholders of record on August 3.

MTY Food Group Inc earnings at a glance (GAAP) :

-Earnings (Q2): C$28.61 Mln. vs. C$23.02 Mln. last year.
-EPS (Q2): C$1.17 vs. C$0.93 last year.
-Analyst Estimate: C$0.96
-Revenue (Q2): C$162.51 Mln vs. C$135.85 Mln last year.

Pre-market Movers: DBD, SRG, ISIG, UPST, CSSE…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 06.50 A.M. ET).

In the Green

Diebold Nixdorf, Incorporated (DBD) is up over 60% at $4
Seritage Growth Properties (SRG) is up over 42% at $8.68
Insignia Systems, Inc. (ISIG) is up over 27% at $10.36
Chicken Soup for the Soul Entertainment, Inc. (CSSE) is up over 17% at $9.15
Brickell Biotech, Inc. (BBI) is up over 17% at $4.45
United Maritime Corp (USEA) is up over 16% at $8.23
TransMedics Group, Inc. (TMDX) is up over 12% at $39.00
Rafael Holdings, Inc. (RFL) is up over 12% at $2.31
Nine Energy Service, Inc. (NINE) is up over 11% at $2.71
OppFi Inc. (OPFI) is up over 10% at $3.95
Evoqua Water Technologies Corp. (AQUA) is up over 6% at $37.11

In the Red

Upstart Holdings, Inc. (UPST) is down over 18% at $27.60
Grove Collaborative Holdings, Inc. (GROV) is down over 10% at $6.62
Wayfair Inc. (W) is down over 8% at $53.26
Abeona Therapeutics Inc. (ABEO) is down over 8% at $4.13
Zevia PBC (ZVIA) is down over 7% at $3.32
GameStop Corp. (GME) is down over 6% at $127.00
PPL Corporation (PPL) is down over 6% at $25.40
UWM Holdings Corporation (UWMC) is down over 6% at $3.61
Genfit S.A. (GNFT) is down over 6% at $3.35

Zawe Ashton Isn’t Here to Be a Victim of Your Projections

The actress was never offered a period piece until “Mr. Malcolm’s List.” She was given 24 hours to decide whether to do it. Now she’s earning raves.

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By Alexis Soloski

Neptune Wellness Q4 Loss Narrows

Neptune Wellness Solutions Inc. (NEPT, NEPT.TO) announced Friday that net loss for the fourth quarter narrowed to $36.2 million from $43.5 million in the prior-year quarter.

Revenue for the quarter soared 147 percent to $11.5 million from $4.7 million in the same quarter last year.

EDU Shares Rise 5%

Shares of New Oriental Education & Technology Group Inc. (EDU) are currently trading at $23.97, up $1.22 or 5.36%, with trading volume of over 1.48 million versus an average volume of 6.31 million shares.

Cambridge-based health-tech platform Healthera, on Thursday, announced that it has received investment from Serafund, a VC fund backed by entrepreneur and investor Bob Xiaoping Xu. This venture round was structured under a convertible loan note and oversubscribed with participation from several existing investors.

Bob Xiaoping Xu is an entrepreneur who co-founded New Oriental Education & Technology and later became a VC and angel investor. He was a founding Managing Partner for ZhenFund, an early stage-focused fund with over 700 companies in its portfolio, of which 26 have either gone public or reached valuations above $1 billion.