Halozyme Therapeutics Stock Slips On Weak FY23 Outlook

Pre-market Movers: BWEN, LASE, PROK, BIOR, BBBY…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.05 A.M. ET).

In the Green

Broadwind, Inc. (BWEN) is up over 59% at $3.60
Laser Photonics Corporation (LASE) is up over 45% at $3.69
ProKidney Corp. (PROK) is up over 40% at $10.80
Biora Therapeutics, Inc. (BIOR) is up over 30% at $7.07
Bed Bath & Beyond Inc. (BBBY) is up over 25% at $2.59
Inpixon (INPX) is up over 18% at $2.04
World Wrestling Entertainment, Inc. (WWE) is up over 6% at $96.02
AMTD Digital Inc. (HKD) is up over 5% at $14.20
AMC Entertainment Holdings, Inc. (AMC) is up over 5% at $4.27

In the Red

Ichor Holdings, Ltd. (ICHR) is down over 17% at $24.50
Eloxx Pharmaceuticals, Inc. (ELOX) is down over 9% at $3.61
Clough Global Equity Fund (GLQ) is down over 7% at $6.10
Invesco Ltd. (IVZ) is down over 4% at $18.61
Full Truck Alliance Co. Ltd. (YMM) is down over 4% at $9.02

Cactus Down After Pricing $150 Mln Common Stock Offering

Cactus, Inc. (WHD) shares are sliding on Wednesday morning trade after the company priced the Class A common stock offering for total gross proceeds of around $150 million.

The designer and manufacturer of highly engineered wellhead and pressure control equipment intend to use the net proceeds to finance a portion of its previously announced acquisition of FlexSteel Technologies Holdings, Inc. and its affiliates.

The Offering is expected to close on January 13.

Currently, shares are at $54.90, down 3.46 percent from the previous close of $56.86 on a volume of 458,015.

UroGen Reports Results Of First Post-Commercial Utilization Review Of JELMYTO

UroGen Pharma Ltd. (URGN) reported results from the first post-commercial utilization review of JELMYTO for pyelocalyceal solution. JELMYTO is approved for the treatment of adults with LG-UTUC, or low-grade upper tract urothelial cancer.

“This study provides valuable insights into how physicians are utilizing JELMYTO in the real-world and reinforces the genuine clinical value of this therapy for patients with LG-UTUC,” said Mark Schoenberg, Chief Medical Officer, UroGen.

The study evaluated 132 patients treated with JELMYTO from 15 high-volume academic and community centers and characterized the manner in which urologists are now using JELMYTO in their practices. It was found that doctors are using JELMYTO for the treatment of large tumors, high grade tumors, and ureteral tumors. Primary chemoablation resulted in a 70% complete response rate for patients with tumors less
than 1cm while 69% achieved complete response when JELMYTO was combined with laser ablation.

For More Such Health News, visit rttnews.com.

Inotiv Stock Surges 30% On Q4 Results

Shares of Inotiv, Inc. (NOTV) are surging over 30% on Wednesday morning after reporting its fourth quarter results.

NOTV is currently trading at $7.38, up $1.79 or 32.02%, on the Nasdaq. The stock opened its trading at $4.80 after closing Tuesday’s trading at $5.59. The stock has traded between $3.65 – 42.63 in the past 52-week period.

Revenue grew to $150.5 million in the fourth quarter from $30.1 million last year driven by a $14.1 million rise in DSA revenue and $106.3 million of incremental revenue from our RMS business.

Net loss for fourth quarter was $243.6 million or $9.54 per share, compared to profit of $9.4 million or $0.06 per share last year.

Laser Photonics Spikes On 2 Mln Stock Buy Back Authorization

Laser Photonics Corp. (LASE) shares are gaining more than 29 percent on Wednesday morning after the company’s board authorized a 2 million share stock buy back program.

Shares of the vertically-integrated manufacturer of industrial laser technologies and systems are currently at $3.26, up 28.85 percent from the previous close of $2.53 on a volume of 3,522,383.

Electrolux Sees Q4 Operating Loss

Electrolux AB (0MDT.L,0GQ1.L,ELUXY.PK), a Swedish home appliance maker, said it expects operating loss for the fourth quarter of 2022 to be about 2.0 billion Swedish kronor compared to operating income of 0.9 billion kronor last year. The year-over-year result decline was primarily a consequence of weaker consumer demand and inventory reductions at both retailers and Electrolux in combination with an elevated cost level. The main contributor to the weaker than expected earnings in the fourth quarter was performance in Business Area North America.

Net sales in the fourth quarter for the Group are estimated to be approximately 36 billion kronor, a decrease of about 8% organically.

Man killed in Aurora stabbing Tuesday night

A fight in a parking lot near Mississippi Avenue and Joliet Street in Aurora Tuesday night led to a stabbing that killed one man.

The fight happened about 7:40 p.m., Aurora police said on Twitter. Two men were physically fighting before one of the men was stabbed, police said they believed.

That man died at the scene, and the other man left the area and is believed to be injured.

He is described as a 30- to 40-year-old white or Hispanic man with shoulder-length black, curly hair wearing a white or gray hoodie and red boxers, police said.

Anyone with information is asked to call 911 or Metro Denver CrimeStoppers at 720-913-7867.

Halozyme Therapeutics Stock Slips On Weak FY23 Outlook

Shares of Halozyme Therapeutics, Inc. (HALO) slipped over 11% on Wednesday morning after the company issued an outlook for the full year 2023, which is below Street estimates.

HALO is currently trading at $49.28, down $6.42 or 11.53%, on the Nasdaq. The stock opened its trading at $54.93 after closing Tuesday’s trading at $55.70. The stock has traded between $31.36 and $59.46 in the past 52-week period.

For the full year 2023, Halozyme expects revenues of $815 million to $845 million. Halozyme expects adjusted earnings per share of $2.50 to $2.65 for the full year.

Analysts polled by Thomson Reuters currently estimate earnings of $2.90 per share and revenues of $892.47 million.

CEO Dr. Helen Torley said, “In 2023, we project record revenue of $815 to $845M and greater than 30% growth in EBITDA to $415 to $440 million. As our ENHANZE pipeline advances, we are excited about the future royalty revenue opportunities represented in 2023 by the potential for two new commercial launches, SC efgartigimod and SC atezolizumab.”