Artelo Biosciences Up 50% On Positive Pre-clinical Results With Its Fatty Acid Binding Protein 5
Shares of Artelo Biosciences, Inc. (ARTL) are surging nearly 50% on Tuesday morning after the clinical-stage pharmaceutical company reported positive pre-clinical results with its novel inhibitor to fatty acid binding protein 5.
ARTL is currently trading at $6.42, up $2.06 or 47.25%, on the Nasdaq. The stock opened its trading at $5.83 after closing Monday’s trading at $4.36. The stock has traded between $3.61 and $19.80 in the past 52-week period.
Artelo Biosciences announced publication of pre-clinical results indicating a novel fatty acid binding protein 5 (FABP5) inhibitor from the Company’s FABP inhibitor platform reduces anxiety behaviors in an area of the brain known to be important in anxiety and that modulation of the FABP5 system may serve as a promising target for the development of novel anxiolytics.
“What was particularly interesting was that we have demonstrated that the CB2 receptor, which is often thought of as the peripheral cannabinoid receptor, is involved in the control of both fear and anxiety and, importantly, is capable of being modulated by FABP5 inhibition for the first time,” said Gregory D. Gorgas. President and Chief Executive Officer of Artelo Biosciences. “This new data further supports the development of our FABP inhibitor platform in anxiety-related disorders such as post-traumatic stress disorder.”
Rollover in Broomfield leads to delays on westbound U.S. 36
U.S. 36 is now fully reopened after a two-vehicle rollover crash near Broomfield.
Broomfield police tweeted at 9:38 a.m. Tuesday that the crash had westbound U.S. 36 down to one lane near Interlocken Loop.
Police warned residents that first responders will be on scene and there will be “significant delays.”
At 10:45 a.m., Broomfield police tweeted that all lanes of U.S. 36 were now open.
No information on injuries or the cause of the crash was available.
Ginkgo Bioworks Up 7% On Higher Q2 Revenue, Raised FY22 Outlook
Shares of cell programming company Ginkgo Bioworks Holdings, Inc. (DNA) are up 7 percent on Tuesday’s trading after the company posted a 231 percent rise in second-quarter total revenue to $145 million from $44 million in the comparable prior year period.
The company also raised its expectation for total revenue for 2022 from the $375 – $390 million range to between $425 million and $440 million.
Currently at $3.7450, the stock has traded between $2.0900 and $15.8640 during the past 52 weeks.
U.S. Covid Cases Fall 18% In A Fortnight
The United States has seen an 18 percent decrease in the number of people getting infected with the coronavirus a day over the last two weeks.
With 99,543 new cases reported on Monday, the total number of people that have been infected with the coronavirus in the country has risen to 93,029,887, as per Johns Hopkins University’s latest data.
440 additional deaths on the same day took the total U.S. Covid casualties to 1,037,484
Texas reported the most number of cases – 21,841, while Florida reported the most deaths – 172.
Covid deaths have increased by 10 percent in a fortnight, New York Times’ latest tally shows.
There is also a marginal decrease in the number people admitted in U.S hospitals due to Covid. Nearly 42,000 people are currently hospitalized with the coronavirus infection. Nearly 5,000 of these patients are admitted in intensive care units.
90,035,472 people have so far recovered from the disease, the Worldometer tally shows.
As per the latest data published by the Centers for Disease Control and Prevention, 223,457,170 Americans, or 67.3 percent of the eligible population, have been administered both doses of Covid vaccine so far. This includes 91.9 percent of people above 65.
48.3 percent of the eligible population, or 107,872,738 people, have already received a booster dose that is recommended to provide additional protection from the killer virus.
2,288 additional deaths were reported globally on Monday, taking the total number of people who lost their lives due to the pandemic so far to 6,438,307.
FuboTV Climbs 16% After News Of Senior VP Appointment
Shares of live TV streaming platform fuboTV Inc. (FUBO) are climbing 16 percent on Tuesday’s trading continuing their upward trend since the past few days. Tuesday’s upward movement can be attributed to news of the company appointing Lynette Kaylor senior vice president, advertising sales from August 22.
In her new role, Kaylor will lead Fubo’s North American sales strategy and ad operations as well as manage the company’s growing sales team and will report directly to David Gandler, co-founder and CEO.
Currently at $4.9000, the stock has traded between $2.3180 and $35.1000 during the past 52 weeks.
Albireo Pharma Stock Tanks 25% On Quarterly Results
Shares of Albireo Pharma, Inc. (ALBO) are slipping nearly 25% on Tuesday morning after the company reported a wider loss for the second quarter than Wall Street estimates.
ALBO is currently trading at $18.70, down $6.23 or 24.99%, on the Nasdaq, on a volume of 1.5 million shares, above average volume of 300 thousand. The stock opened its trading at $19.32 after closing Monday’s trading at $24.93. The stock has traded between $17.81 and $37.63 in the past 52-week period.
Albireo reported net loss for the second quarter of $39.9 million or $2.04 per share, compared to $36.4 million or $1.90 per share last year. Revenues for the quarter rose to $8.2 million from $2.4 million last year.
Analysts polled by Thomson Reuters estimated a loss of $1.65 per share on revenues of $7.45 million for the quarter.
Fulcrum Therapeutics Stock Gains 13%
Shares of Fulcrum Therapeutics Inc. (FULC) are gaining over 13% on Tuesday morning after the clinical-stage biopharmaceutical company priced an offering of 9.6 million shares at $7.82.
FULC is currently trading at $8.84, up $1.02 or 13.04%, on the Nasdaq, on a volume of 1.2 million shares, above average volume of 0.6 million. The stock opened its trading at $8.64 after closing Monday’s trading at $7.82. The stock has traded between $3.21 and $33.10 in the past 52-week period.
The company will raise proceeds of $75 million from the offering, which is expected to close on or about August 18, 2022.
Fulcrum Therapeutics focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States.