Otonomy sees 20201 GAAP operating expenses $46M-$48M » 16:2805/1105/11/21
Otonomy expects that GAAP…
Otonomy expects that GAAP operating expenses will be in the range of $46M-$48M, and that non-GAAP operating expenses will be in the range of $38M-$40M. Otonomy expects that its current cash, cash equivalents, and short-term investments will be sufficient to fund company operations into the second half of 2023.
Otonomy reports Q1 EPS (23c), consensus (21c) » 16:2705/1105/11/21
"We are focused on…
"We are focused on advancing our multiple programs for treating hearing loss and tinnitus as demonstrated by the recent initiation of our Phase 2 trial for OTO-313, ongoing preparation for initiating the expansion of the Phase 1/2 trial for OTO-413 this quarter, and upcoming presentation of preclinical proof-of-concept results for our OTO-825 gene therapy program," said David A. Weber, Ph.D., president and CEO of Otonomy. "Our strengthened balance sheet will fund the Company well beyond our anticipated clinical milestones in mid-2022 and supports the advancement of our multiple preclinical programs including the IND-enabling activities for OTO-825." Company highlights include: OTO-313 Phase 2 trial in tinnitus initiated with results expected in mid-2022; OTO-413 Phase 1/2 trial expansion in hearing loss expected to start in second quarter of 2021 with results anticipated in mid-2022; OTO-825 IND-enabling activities underway with preclinical proof-of-concept data to be presented at ASGCT meeting; update on program to be provided in mid-2021; Recent financing extends cash runway into second half of 2023.
Fortress Biotech options imply 25.5% move in share price post-earnings » 15:3405/1005/10/21
Pre-earnings options volume in Fortress Biotech is normal with calls leading puts 6:1. Implied volatility suggests the market is anticipating a move near 25.5%, or 98c, after results are released. Median move over the past eight quarters is 8.3%.
Infrastructure and Energy Alternatives appoints Hunting to board of directors » 09:1705/1005/10/21
IEA, UNM, THG, NI
Infrastructure and Energy…
Infrastructure and Energy Alternatives (IEA) announced the appointment of Theodore Bunting to the company's board of directors, effective immediately after the company's annual meeting of shareholders on May 13. Bunting will be designated a Class I director and meets the Nasdaq independence standards. With Bunting's appointment, IEA's Board of Directors will be at nine members. In addition to IEA, Bunting serves on the board of directors of Unum Group (UNM), The Hanover Insurance Group (THG), and is the Chair of the Audit Committee for NiSource (NI).
Fortress Biotech enters license agreement with Fuji Yakuhin for Dotinurad » 06:3605/1005/10/21
Fortress Biotech has…
Fortress Biotech has entered into an exclusive licensing agreement with Fuji Yakuhin to develop Dotinurad in the U.S., U.K., European Union and Canada. Dotinurad is a potential best-in-class urate transporter inhibitor that was approved for the treatment of gout and hyperuricemia in Japan in 2020. Hyperuricemia has also been implicated in the progression of chronic kidney disease and heart failure, and Dotinurad may potentially play a critical role in helping treat these conditions. Under the terms of the agreement, the company acquired exclusive development and marketing rights in North America and Europe from Fuji. Fuji is eligible to receive upfront, development and commercial milestone and royalty payments from the company. Fortress expects to leverage data from three completed Phase 3 clinical trials in more than 500 Japanese patients to develop and market Dotinurad.
B. Riley Principal 250 Merger opens at $10, IPO priced at $10 per unit » 11:1505/0705/07/21
B. Riley Principal 250…
B. Riley Principal 250 Merger Corp., a special purpose acquisition company sponsored by an affiliate of B. Riley Financial (RILY), priced its initial public offering of 15M units at a price of $10.00 per unit and opened for trading at $10. The units are trading on the Nasdaq Capital Market under the ticker symbol "BRIVU." Each unit consists of one share of Class A common stock and one-third of one redeemable warrant, each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols "BRIV" and "BRIVW," respectively. The company may pursue an initial business combination target in any industry or geographic region, but intends to focus on businesses that "have a history of, or potential for, strong cash flow generation and growing revenue streams, and would benefit from access to public markets and the operational and strategic expertise of its management team and board of directors." B. Riley Securities is acting as the sole book-running manager.
Unusually active option classes on open May 6th » 09:4005/0605/06/21
NMRD, PFE, JMIA, HYG, VIAC, CHWY, GLD, SLV, GDX
Unusual total active…
Unusual total active option classes on open include: Nemaura Medical (NMRD), Pfizer (PFE), Jumia Technologies (JMIA), iShares High Yield Corporate Bond ETF (HYG), ViacomCBS Class B (VIAC), Chewy (CHWY), SPDR Gold Trust (GLD), iShares Silver Trust (SLV), and Gold Miners ETF (GDX).
|Over a week ago|
NiSource narrows FY21 EPS view to $1.32-$1.36 from $1.28-$1.36, consensus $1.33 » 06:4505/0505/05/21
The company said,…
The company said, "The company expects to make capital investments of $1.9 billion to $2.1 billion in 2021. As outlined at its 2020 Investor Day, NiSource continues to expect to grow its diluted net operating earnings per share by 7 to 9% on a compound annual growth rate basis from 2021 through 2024, including near-term annual growth of 5 to 7% through 2023. NiSource expects to make capital investments totaling approximately $10 billion through 2024, comprised of annual investments of $1.9 to $2.2 billion for growth, safety, and modernization, and an additional $2 billion in total for renewable generation. These investments are expected to drive compound annual rate base growth of 10 to 12% for each of our businesses through 2024. NiSource remains committed to maintaining its current investment-grade credit ratings. The company has investment-grade ratings with Fitch Ratings (BBB), Moody's (Baa2) and Standard & Poor's (BBB+). As of March 31, 2021, NiSource had approximately $1.9 billion in net available liquidity, consisting of cash and available capacity under its credit facility and accounts receivable securitization programs."
NiSource reports Q1 EPS 77c, consensus 77c » 06:4405/0505/05/21
Reports Q1 non-GAAP net…
Reports Q1 non-GAAP net operating earnings available to common shareholders of $304.8M. "With the successful completion of last month's convertible issuance, NiSource is well positioned to execute the next stage of our growth plan, driven by safety and asset modernization programs, as well as our electric generation transition strategy," said NiSource president and CEO Joe Hamrock. "In Indiana, we kicked off our 2021 Integrated Resource Plan (IRP) process, which will inform our strategy beyond 2023, and we initiated four new renewable energy projects in 2021. We continue to expect that our infrastructure and generation investments will drive compound annual growth of 7 to 9% in diluted net operating earnings per share from 2021 through 2024 while reducing greenhouse gas emissions 90% by 2030."
B. Riley Financial declares special dividend of $2.50 » 16:0605/0305/03/21
The Company's Board…
The Company's Board of Directors has approved a total quarterly dividend of $3.00 per share which includes the regular 50c dividend and a special dividend of $2.50 per share. The dividend is payable on or about May 28 to common stockholders of record as of May 17.