Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Inovio Pharmaceuticals, Inc. (INO) opens New Front Line in War against Cancer & Infectious Diseases with DNA Vaccines
Over 2,000 years ago, Plato, in his immortal Socratic dialogue, had the great philosopher express his astonishment at the new diseases plaguing Athenian society and their bizarre and horrible names. Our position today is very similar. Strange, horrible afflictions with bizarre, frightening names like cancer, Ebola and Zika, unknown or unrecognized until modern times, threaten us with epidemics and pandemics. For a hundred years or so, we’ve fought them off with traditional vaccines and pharmaceuticals. Now, a new battlefront is set to open with the advent of DNA vaccines from companies like Inovio Pharmaceuticals, Inc. (NASDAQ: INO).
Traditional vaccines stimulate the immune system to respond to threats from antigens in the lymph and blood. The lymph is a colorless fluid containing white blood cells that bathes the tissues. These traditional vaccines are said to stimulate humoral immunity. (Humor is a medieval term for body fluid.) The most famous of them, perhaps, and certainly the first was Edward Jenner’s smallpox vaccine in 1796. Traditional vaccines have been developed against numerous bacterial and viral pathogens, but their development against many life-threatening viruses has been elusive.
DNA vaccines, by contrast, stimulate cell-mediated immunity, which is good, since most of the scientific community believes that it is cell-mediated immunity, rather than humoral immunity, that has the dominant role in fighting viral infections. The problem is that viruses live and replicate inside cells. They seize the synthetic machinery of the host and, therefore, are sheltered from antibody surveillance. Cell-mediated immunity, however, can detect and destroy these infected cells.
Inovio Pharmaceuticals is revolutionizing the fight against cancers and other infectious diseases with a range of these DNA immunotherapies (vaccines). Its technology platform is applicable to cancers and infectious diseases and the company has developed antigen-targeting immunotherapy and vaccine product candidates for HPV-caused pre-cancers and cancers of the breast, lung, pancreas, and prostate, as well as hepatitis, HIV, influenza, and Ebola. Its lead program targets cervical dysplasia and has just completed a phase II clinical study.
In March, the company announced (http://dtn.fm/3PRmG) that this immunotherapy to treat cervical dysplasia (VGX-3100) had earned recognition as the “Best Therapeutic Vaccine” by the World Vaccine Congress held that month in Washington, D.C. The Vaccine Industry Excellence (ViE) Awards honor outstanding vaccine advancements and achievements of therapeutic and preventive vaccine developers across the global industry, as judged by a panel of global biotech industry stakeholders.
At present, Inovio’s proposed phase III clinical program for the VGX-3100 program is under clinical hold. The FDA has requested additional data to support the shelf life of the newly designed and manufactured disposable parts of the CELLECTRA® 5PSP immunotherapy delivery device. The hold does not pertain to any of Inovio’s other ongoing clinical studies. Management expects the VGX-3100 issue to be resolved by the first quarter of 2017, with potentially no delay in the overall completion of a phase III trial.
By year-end, Inovio expects several clinical read-outs, including those from the 40 patient Zika trial and the INO-3112 head and neck cancer study, in addition to interim data from its Middle East Respiratory Syndrome (MERS) vaccine. A research report from Aegis Capital (http://dtn.fm/3J2eg), issued last week, set a price target of $12.00 for Inovio’s stock, which is currently trading at just over $8.00.
For more information, visit www.inovio.com
Aegis Capital Supports ‘Buy’ Rating, Higher Stock Price Target for Progenics (PGNX) Following Strong Q3 Results
Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX), a company focused on the development of innovative treatments and therapies for cancer, in particular prostate cancer, recently released its financial results for the third quarter of 2016, reporting higher revenue and net income compared to the third quarter of 2015. The growth can be primarily attributed to the FDA approval and U.S. commercial launch of its flagship product, oral Relistor®, for the treatment of opioid induced constipation in patients suffering from chronic non-cancer pain, according to an Aegis Capital Corp. analysis (http://dtn.fm/8EJce) released on November 8, one day after the Q3 results.
The Aegis report underlines that the strong Q3 results warrant the designation of a ‘Buy’ rating for Progenics and a higher stock price target of $11, compared to the current $5.71. In the third quarter, Progenics reported $53.9 million in revenue, compared to $1.4 million in Q3 2015, which reflects the significantly higher royalty income of $3.3 million from Relistor®, compared to $1.2 million during the same reporting period of 2015. Relistor®, in its tablet form, was approved by the Food and Drug Administration in July of this year, which triggered a $50 million milestone from the company’s commercialization partner, Valeant Pharmaceuticals International, Inc. (NYSE: VRX), along with subsequent royalties and the potential of sales milestones of up to $200 million. This was followed by the launch of oral Relistor® on the U.S. market in September. Total Relistor® sales (for both the oral and the subcutaneous versions of the product) amounted to $22.1 million, which resulted in $3.3 million in royalties.
In addition to the higher revenue, Progenics also announced a $50 million royalty-backed loan from HealthCare Royalty Partners. The loan matures on June 30, 2025, and will be repaid exclusively from royalties on future Relistor® sales, with a 9.8% per annum interest rate. Any future sales milestones from Valeant are excluded from the agreement. The loan helped Progenics end the quarter with $98.9 million in cash and cash equivalents, which is $24.8 million higher than the figure reported at the end of last year.
According to Aegis Capital, this loan will allow Progenics to have a cash balance large enough to support the launch of its next pipeline product Azedra®, a late-stage candidate being evaluated for the treatment of rare sympathetic nervous system tumors (pheochromocytoma and paragangliomas). Currently undergoing registration trials for the treatment, Progenics expects topline results in the first quarter of 2017. If the results are encouraging and the Azedra® trial meets the requirements of the Special Protocol Assessment, Progenics plans to submit a new drug application to the FDA in the first half of next year, with approval likely to happen by the end of 2017.
The Aegis report also mentions that, with its current cash balance and the expected Relistor® sales royalties, Progenics will be able to continue development of its oncology pipeline, which includes PSMA (prostate specific membrane antigen)-targeted imaging agents such as 1404 (SPECT/CT imaging agent currently undergoing a phase III study of 450 prostate cancer patients), PyL™ (a PET/CT agent that will begin to undergo phase II/III trials by the end of the year) and 1095 (with a phase I study in metastatic prostate cancer patients set to begin in the fourth quarter of 2016).
For more information, visit the company’s website at www.progenics.com
Nektar Therapeutics (NKTR) is “One to Watch”
Nektar Therapeutics (NASDAQ: NKTR), a biopharmaceutical company in the business of developing new medicines for people living with life changing conditions, now helps more than nine million patients worldwide. Nektar also offers a proprietary pipeline made up of drug candidates for oncology, pain, anti-infectives, and immunology. The company has 12 approved products, including Movantik, Adynovate, and Onzeald.
Movantik, which is used for the treatment of opioid induced constipation, was approved for sale in both the U.S. and Europe in 2014, allowing Nektar to see a significant increase in sales and royalty payments. Adynovate, used in the treatment of hemophilia A in patients aged 12 and above, was approved for sale in the U.S. in 2015. The company also partnered with Shire, giving Nektar an extra $55,000 in sales.
Onzeald is used in the treatment of metastatic breast cancer with brain metastases. The company partnered with Daiichi Sankyo on June 1, 2016, giving Daiichi exclusive commercialization rights in the European Economic Area, Switzerland, and Turkey. This partnership could potentially give Nektar a total of $60 million in commercial and regulatory milestones.
In addition, Nektar Therapeutics recently presented new clinical data (http://dtn.fm/g8OQs) from its ongoing phase I dose-escalation study of NKTR-214 at the Society for Immunotherapy of Cancer (SITC) 2016 Annual Meeting. The candidate is an investigatory immunostimulatory therapy that expands specific cancer fighting T-cells and natural killer cell abundance in the tumor’s microenvironment.
According to Dr. Ivan Gergel, Senior Vice President, Drug Development & Chief Medical Officer of Nektar, “NKTR-214 resulted in robust activation of the immune system and encouraging anti-tumor activity, including a partial response observed in a patient who continues to be treated with NKTR-214?. There has been evidence that seven out of the 18 patients so far have had radiographic reductions in tumor size per RECIST 1.1 on NKTR-214.
With this in mind, Aegis Capital Corp. (http://dtn.fm/cxSm0) initiated coverage on Nektar Therapeutics, offering the company a ‘Buy’ rating with a target price of $21. Areas covered in the report include the sources of revenue, details of the partnerships put in place, and an oncology clinical collaboration with BMS for evaluating the combination of Opdivo and NKTR-214. The target price was based on an EV/Sales multiple of eight, which was applied to the expected sales of $378 million by 2020.
For more information, visit the company’s website at www.nektar.com
Monaker Group (MKGI) Set to Capitalize on This Year’s Thanksgiving Celebrations
This Thanksgiving, AAA, North America’s largest motoring and leisure travel organization, is expecting over one million more Americans to travel. According to the company’s 2016 Thanksgiving Holiday Travel Forecast, there will be more than 48.7 million travelers, marking the highest Thanksgiving holiday travel volume since 2007.
Travel has gone up 1.9% this year alone, leading to a 29% increase of travelers during Thanksgiving over the past eight years. According to the report and its attached infographic, 89.4% of people will be traveling by car, a 12.5% increase from the 2001 to 2015 average. In addition, air travel has risen 10% above the 2010 post-recession rebound year, and other modes of travel are also expected to increase by just under 1%.
But why are people suddenly choosing to splash their cash this Thanksgiving? The answer is simple: steady economic growth and low gas prices. According to the Albany Herald (http://dtn.fm/x5CX5), AAA officials estimate that low gas prices have saved drivers a huge $28 billion this calendar year alone. Forecasts also show an increase in consumer spending of 4.2%, with a rise in personal income of 3.4% and a 2.3% increase in disposable income. Not only this, real GDP is expected to increase by 1.6% over last year’s figure, and unemployment is expected to drop by just under 5%.
An article on the AAA Newsroom (http://dtn.fm/Z1kfO) predicts travelers top ten travel destinations to be Las Vegas, San Francisco, San Diego, Orlando, New York City, New Orleans, Anaheim, Fort Lauderdale, Philadelphia, and Seattle, many of which appear in the featured cities list of NextTrip, the flagship company of Monaker Group (OTCQB: MKGI).
Monaker Group, a technology-driven travel company, works through NextTrip, a real-time booking engine that offers consumers the chance to book every aspect of their trips, all in one place. The company offers a choice of alternative lodging in a number of locations around the world. MKGI works with a number of airlines, cruise lines, hotels, tour operators, car rentals, and concierge services, allowing holidaymakers to plan their entire trips from the comfort of the NextTrip travel planner.
This NextTrip booking system gives consumers the power of choice while allowing them to make informed decisions right from their homes. Thanks to key partnerships with well-established travel brands, Monaker aims to become the one-stop-shop for vacationers across the U.S and around the globe.
For more information, visit www.MonakerGroup.com
Monaker Group (MKGI) Set to Capitalize on This Year’s Thanksgiving Celebrations
This Thanksgiving, AAA, North America’s largest motoring and leisure travel organization, is expecting over one million more Americans to travel. According to the company’s 2016 Thanksgiving Holiday Travel Forecast, there will be more than 48.7 million travelers, marking the highest Thanksgiving holiday travel volume since 2007.
Travel has gone up 1.9% this year alone, leading to a 29% increase of travelers during Thanksgiving over the past eight years. According to the report and its attached infographic, 89.4% of people will be traveling by car, a 12.5% increase from the 2001 to 2015 average. In addition, air travel has risen 10% above the 2010 post-recession rebound year, and other modes of travel are also expected to increase by just under 1%.
But why are people suddenly choosing to splash their cash this Thanksgiving? The answer is simple: steady economic growth and low gas prices. According to the Albany Herald (http://dtn.fm/x5CX5), AAA officials estimate that low gas prices have saved drivers a huge $28 billion this calendar year alone. Forecasts also show an increase in consumer spending of 4.2%, with a rise in personal income of 3.4% and a 2.3% increase in disposable income. Not only this, real GDP is expected to increase by 1.6% over last year’s figure, and unemployment is expected to drop by just under 5%.
An article on the AAA Newsroom (http://dtn.fm/Z1kfO) predicts travelers top ten travel destinations to be Las Vegas, San Francisco, San Diego, Orlando, New York City, New Orleans, Anaheim, Fort Lauderdale, Philadelphia, and Seattle, many of which appear in the featured cities list of NextTrip, the flagship company of Monaker Group (OTCQB: MKGI).
Monaker Group, a technology-driven travel company, works through NextTrip, a real-time booking engine that offers consumers the chance to book every aspect of their trips, all in one place. The company offers a choice of alternative lodging in a number of locations around the world. MKGI works with a number of airlines, cruise lines, hotels, tour operators, car rentals, and concierge services, allowing holidaymakers to plan their entire trips from the comfort of the NextTrip travel planner.
This NextTrip booking system gives consumers the power of choice while allowing them to make informed decisions right from their homes. Thanks to key partnerships with well-established travel brands, Monaker aims to become the one-stop-shop for vacationers across the U.S and around the globe.
For more information, visit www.MonakerGroup.com
MKGI Set to Capitalize on This Year’s Thanksgiving Celebrations
This Thanksgiving, AAA, North America’s largest motoring and leisure travel organization, is expecting over one million more Americans to travel. According to the company’s 2016 Thanksgiving Holiday Travel Forecast, there will be more than 48.7 million travelers, marking the highest Thanksgiving holiday travel volume since 2007.
Travel has gone up 1.9% this year alone, leading to a 29% increase of travelers during Thanksgiving over the past eight years. According to the report and its attached infographic, 89.4% of people will be traveling by car, a 12.5% increase from the 2001 to 2015 average. In addition, air travel has risen 10% above the 2010 post-recession rebound year, and other modes of travel are also expected to increase by just under 1%.
But why are people suddenly choosing to splash their cash this Thanksgiving? The answer is simple: steady economic growth and low gas prices. According to the Albany Herald (http://dtn.fm/x5CX5), AAA officials estimate that low gas prices have saved drivers a huge $28 billion this calendar year alone. Forecasts also show an increase in consumer spending of 4.2%, with a rise in personal income of 3.4% and a 2.3% increase in disposable income. Not only this, real GDP is expected to increase by 1.6% over last year’s figure, and unemployment is expected to drop by just under 5%.
An article on the AAA Newsroom (http://dtn.fm/Z1kfO) predicts travelers top ten travel destinations to be Las Vegas, San Francisco, San Diego, Orlando, New York City, New Orleans, Anaheim, Fort Lauderdale, Philadelphia, and Seattle, many of which appear in the featured cities list of NextTrip, the flagship company of Monaker Group (OTCQB: MKGI).
Monaker Group, a technology-driven travel company, works through NextTrip, a real-time booking engine that offers consumers the chance to book every aspect of their trips, all in one place. The company offers a choice of alternative lodging in a number of locations around the world. MKGI works with a number of airlines, cruise lines, hotels, tour operators, car rentals, and concierge services, allowing holidaymakers to plan their entire trips from the comfort of the NextTrip travel planner.
This NextTrip booking system gives consumers the power of choice while allowing them to make informed decisions right from their homes. Thanks to key partnerships with well-established travel brands, Monaker aims to become the one-stop-shop for vacationers across the U.S and around the globe.
For more information, visit www.MonakerGroup.com
Medical Transcription Billing, Corp. (MTBC) mHealth Keeping Patients and Practices Constantly Connected
As part of its constant efforts to offer one of the most comprehensive suites of electronic health records, practice management and revenue cycle solutions on the market, Medical Transcription Billing, Corp. (NASDAQ: MTBC; MTBCP) provides its customers with a comprehensive suite of mobile health applications designed to significantly improve patient engagement and give practices secure and consistent access to real-time information. The native mobile applications offered under the mHealth umbrella are designed for a wide variety of tablet devices and smartphones and are fully integrated with the company’s core suite of services and products.
One of the most inclusive apps is MTBC’s Personal Health Record (PHR) for Android and iOS devices. This app affords any medical practice’s patients direct access to their medical history and detailed health info, including lab reports, bills or claims. The PHR is safe and easy to use and also allows patients to schedule appointments and view their appointment history wherever they are and whenever they want to. Key features of the app include: flexibility in making appointments; easy access to a patient’s medical history, medications and immunization info; ability to process payments and track payment history; secure messaging between patients and their doctors; and the ability of having patients directly edit their personal details such as address or phone number.
Another app that gives practices access to clinical information anywhere and anytime is the MTBC iEHR – Electronic Health Records app for iOS, Android and Amazon devices. The app has a highly intuitive interface providing superior flexibility and functionality so as to access critical information at any time and subsequently improve safety and quality of patient care. With the iEHR, practices and patients can view upcoming and past appointments, review complete patient medical history including medication and hospitalization records, create and sign patient charts at the point of care, send prescriptions straight to pharmacy and create and submit bills.
Electronic prescribing of medication can actually improve patient safety and reduce deaths caused by possible prescription errors, as various studies have shown. With this in mind, MTBC developed the iRx app. Compatible with both Android and iOS devices, this app allows doctors to prescribe medications quickly using their smartphones or any other smart device. The app enables medical professionals to review any drug contraindications including interactions with other drugs, or whether they are right for a specific patient based on factors such as medical history, allergies, immunizations, and others. iRx also offers access to chart summaries and the possibility of viewing and replying to patient or office messages.
Practices struggling with rising administrative costs might be interested in the iCheckIn application for iPad – an app designed to automate and greatly simplify the patient check-in process. Offering more self-service options to patients, this application also allows for safe verification of insurance information and secure credit card payments. It enables patients to update their own information and review their payment history and balance, thus helping a practice achieve higher operational efficiency while saving time and money.
For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
eXp World Holdings, Inc. (EXPI) Gearing Up to Serve Generation Z
Recently there has been a lot of talk about Generation Z from real estate sources such as The National Association of Realtors (NAR), DS News, and 8Z Real Estate, effectively stating that “Nearly All of Generation Z Sees Homeownership in Their Future.” Although the focus has often been on millennials when it comes to home ownership, DS News (http://dtn.fm/9gGFs) asked its readers some key questions: “What about the generation that follows behind Millennials? What are those from Generation-Z, or those born after 1996, planning when it comes to becoming future homeowners?”
An NAR article entitled ‘Nearly All of Generation Z See Homeownership in Their Future’ (http://dtn.fm/iZ1dG) highlights findings from a session titled ‘The Gen Z Consumer’ at the 2016 REALTORS® Conference & Expo, during which a panel of Gen Z people discussed in some detail what their social media and shopping preferences are, including their future plans to become property owners. At the conference session, Sherry Chris, president and CEO of Better Homes and Gardens Real Estate, pointed out that it was time to learn more about the future of the real estate industry and the next generation that is going to lead it.
Every panelist at the session said that they would like to own their own home and that homeownership will be part of their future. Although results varied between rural and suburban areas, everyone expressed a desire for large square footage. In addition, according to Better Homes and Gardens Real Estate, 97% of Gen Z believes they will own their own home and 82% said owning a home is one of the most important factors in achieving the American dream. In addition to the above, many polled Gen Z-ers said they will most likely work with a real estate agency, and that although they would search online they believe it is important to have professional guidance during the process. 8Z Real Estate (http://dtn.fm/1UEk0) put it perfectly: “There are 55 million of them, about 17% of the US population. Gen Zers are digital natives who don’t make much of a distinction between the physical and digital worlds.”
This is where eXp World Holdings, Inc. (OTCQB: EXPI), the holding company for eXp Realty LLC, comes in. Since its beginnings, the company has moved to better equip its agents with a technologically sophisticated Cloud Office Environment, allowing them to work, attend classes, collaborate, and innovate to best serve their customers.
EXPI has combined advancements in technology with the simple fact that real estate consumers still see value in working with professionals. The systems and tools put in place by the company allow consumers to be more informed, with masses of information and imagery, all while being equipped with professional help that lends a comparative perspective on properties, and negotiates and advocates on their behalf.
For more information, visit the company’s website at www.eXpWorldHoldings.com
Chanticleer Holdings (HOTR) Turns Up the Heat in Fast Casual with Tight Regional Brands & a Better Burger Strategy
From somewhat humble beginnings back in 2005 as a parent structure for investment in and franchising of the extremely successful Hooters brand that has given rise to a bevy of successful imitators over the years, Chanticleer Holdings (NASDAQ: HOTR) has emerged over the last three years as a serious contender in fast casual via brilliant execution of a regional brand strategy. The core “better burger” focus of HOTR’s approach to what is argued by many to be the world’s fastest growing foodservice segment (http://dtn.fm/8Cc03), as fast casual grew 10.4 percent last year to around $3.4 billion, has continually delivered empirical results over the last few years confirming the wisdom of management’s strategy.
Q3 2016 (ended September 30) was another solid quarter for Chanticleer too, with 18.3 percent revenue growth (http://dtn.fm/2zlWf) on strength of the fast casual better burger segment, even as the company managed to shave 2.5 percent off of its operating costs, and 5.5 percent off of G&A expenses. Nine-month revenues were even hotter, at 30.3 percent growth to $31.8 million, clearly illustrating a bullish revenue growth trend mapped out in the company’s November 2016 investor presentation (http://dtn.fm/9WIvV). A replay of the November 9 conference call discussing the company’s revenue growth, overall improved revenue mix, and the success of ongoing efficiency initiatives is available until December 9 by calling (877) 481-4010, or (919) 882-2331 for international callers, using conference ID 10138.
At the center of a growing envelope of brands for Chanticleer are American Burger Company, BGR the Burger Joint, and Little Big Burger, all of which maintain a key emphasis on experience elements such as the freshness of high quality ingredients. Premium beef, unique and energetic environments, cooked-to-order meals, and gourmet burgers – these are the kinds of fast food-killer features which have sparked a broader revolution in the way people eat out. Little Big Burger (LBB) in particular made a strong showing, further underscoring the ingeniousness of Chanticleer’s uniquely crafted regional brand strategy, as LBB contributed significantly to 19 percent sequential quarterly growth in Adjusted EBITDA from continuing operations.
Capitalizing on this revolution by perfecting the better burger concept is a nice approach for an outfit that cut its teeth franchising the oft-imitated but never duplicated Hooters brand. An American icon that obviously paved the way for such entities as last year’s fastest-growing chain in the U.S., Twin Peaks (http://dtn.fm/rd2Wy) ($165 million in sales last year). Chanticleer currently operates nine Hooters locations under franchise, with two in the U.S., one in the EU, and six in South Africa – in addition to owning a minority stake in the Georgia-based wing of Hooters, Inc., Hooters of America. Rounding out the brand mix for HOTR is Just Fresh (http://dtn.fm/rkV6S) (eight locations), a North Carolina market, health-focused brand which features a menu of wholesome and nutritionally balanced foods, including wraps and grilled dishes, baked items, sandwiches and smoothies, as well as a variety of salads, soups, and breakfast items.
American Burger Company (http://dtn.fm/7ROy9) proudly features a “Made in America” menu that ranges well beyond premium burgers into the realm of sandwiches, salads and delicious shakes. With nine locations in the Carolinas currently under the Chanticleer flag, the ABC brand is growing fast, and features such memorable attractions as a Wall of Fame challenge burger (http://dtn.fm/dD12J), the Roadstar®, which is four cheeseburgers in one. Little Big Burger (http://dtn.fm/mOA0h) (eight locations) is the fastest gun in the company’s lineup. Serving high quality cooked-to-order burgers in Portland and the Pacific Northwest region that are made with 1/4 lb. of cascade natural beef, served on brioche buns, using local cheeses, fresh veggies, and featuring the distinctive taste of a veritable Portland institution, Camden’s Blue Label Catsup (http://dtn.fm/YmE9o). Fine touches like this show how dialed-in the regional brand presence model is here, and they speak volumes about HOTR’s past and potential future performance that you just can’t find pouring over SEC filings.
BGR the Burger Joint (http://dtn.fm/V3eb6) is doing really nice turnover for the company as well, with open-flame gourmet fast casual at 22 locations across the U.S. adding mightily to HOTR’s bottom line, even as the brand brings in organic marketing due to underlying product excellence. Recently voted the best burger in D.C. for 2016 (http://dtn.fm/j4fLI) by Washington City Paper’s reader poll, the BGR brand concept, which got its start with a small shop off Woodmont Avenue in Bethesda back in 2008, has performed exceptionally as a regional brand, and has since expanded more toward being a nationwide brand. Named among America’s Top 10 Chain Burgers in 2014 by an MSN report from The Daily Meal (http://dtn.fm/FK2oy), the restaurant chain earned its fame on the back of founder Mark Bucher’s famous burger, which is based on the burgers he had as a kid growing up on the outskirts of Philadelphia, back when the neighborhood beef butcher would draw lines around the block every Sunday, grilling up the best prime beef Philly had to offer. This kind of media coverage for the authentic-tasting menu has been more than great publicity for the brand, it shows how BGR is able to deliver robust value through what is now considered boutique quality, and at nominal, fast casual prices. This is a winning model.
The company has built up an impressive foundation of stores in the last few years as well, with the brand basket ending up pretty well mixed at around eight or nine locations each, and the notable exception of course being gourmet burger restaurant, BGR, with its 22 locations. Chanticleer opened its seventh American Burger Co. in September (http://dtn.fm/mYgo9), as well as its first Little Big Burger in Seattle (http://dtn.fm/7Y0yw), shortly before opening a new BGR location in the Sultanate of Oman (http://dtn.fm/9DdLD) in early October.
While competitors in the market such as juggernaut Chipotle Mexican Grill (NYSE: CMG) have seen share prices decline on saturation and other issues since late 2014, as old money outfits like McDonald’s (NYSE: MCD) execute decisive moves to recapture core audiences – a spry little player like Chanticleer, with its better burger focus and winning regional brand strategy, has managed to cut off sizeable chunks at the margins. Better positioned to capture increasingly discerning, regionalized consumer dollars with higher concept, higher quality offerings, Chanticleer represents a powerful way for investors to play this growth sector. Yum Brands (NYSE: YUM) and other behemoths in the industry have had difficulty recapturing market share from upstarts like Chipotle, and now with companies like Panera Bread (NASDAQ: PNRA) and Shake Shack (NYSE: SHAK) nipping at the heels of CMG, the game is set for desaturation by disruptors like Chanticleer, with its strong handful of better burger brands.
The company is as passionate about its food as it is about offering guests a memorable experience, and that really shines through when it comes to organic buzz, a clear result of the company’s commitment to staffing quality. Staffing has always been a central theme for the company, and Michael D. Pruitt, Chanticleer Holdings Chairman, President and CEO, understands that success in this industry is as much about the wait staff as it is about the Board of Directors. That’s why Chanticleer tapped some serious business operations, real estate and finance muscle earlier this year, with the Board appointments of Gregory E. Kraut and Paul G. Porter. Kraut, a Principal of commercial real estate services firm Avison Young, has nearly two decades of tenant and landlord leasing and sales representation under his belt. Whilst Porter is Managing Director over at Siskey Capital, where he handles oversight, structuring and management for the firm’s private equity.
Pruitt made it clear in the Q3 financials release how the company intends to springboard off its current momentum, leveraging the recent convertible preferred stock rights offering (designed to retire debt and provide growth capital) to capture more of a market that continues to prove quite eager for better burgers, and a better fast casual dining experience.
For more information, visit www.chanticleerholdings.com
Net Element, Inc. (NETE) Evaluated in Zacks Small-Cap Research Report
Earlier this week, Zacks Small-Cap Research issued a new report on Net Element, Inc. (NASDAQ: NETE). The report focused on the company’s recently released third quarter financial results, which, in addition to including an 11 percent year-over-year increase in net revenues, showed positive adjusted EBITDA for the second consecutive quarter. Zacks studied Net Element’s competitors and determined that the average valuation for companies operating in the payments space totaled roughly 7.5 times the enterprise value to trailing 12-month gross margin. Applying this multiple to Net Element’s trailing 12-month gross margin, Zacks forecast that NETE stock could be worth $4.18 per share if the company were profitable.
To view the full Zacks report, visit http://dtn.fm/Q3dGt
Despite GAAP losses resulting from the resolution of payments due for PayOnline, Zacks analysts remain optimistic regarding the company’s overall performance. Notably, the largest component of Net Element’s revenues, U.S. card processing services, has continued along its upward trajectory. The company recorded growth of 42.9 percent to $11.2 million through its domestic operations, with overseas business accounting for revenue declines through both mobile payments and PayOnline. Net Element didn’t provide a clear explanation for the 56 percent revenue shortfall in mobile payments, but the drop off in PayOnline revenues was directly attributable to the discontinuation of payment processing services for foreign currency dealers. Zacks notes that without these two international businesses, Net Element would be growing organically at a rate of more than 50 percent year-over-year and profitable.
Since the end of the third quarter, Net Element has made progress toward increasing its forward revenue through its PayOnline subsidiary. In October, the company announced an agreement between PayOnline and ExLine, the market leader for courier services in Kazakhstan, to enable online payment acceptance through the development of a custom payment solution. On the domestic front, Net Element recently announced that its proprietary Unified Payments gift card application for smart payment terminals is now available nationwide.
With all of these factors in mind, Zacks forecast that Net Element could grow to $55 million in revenues in 2016 through a combination of internal growth, strategic acquisitions and change in revenue recognition. The research report goes on to claim that the company’s PPS “could rise to $7.30 next year using 2016 estimated gross margin of $10.6 million and a share count of 17 million shares.”
For more information, visit www.NetElement.com
Medical Transcription Billing, Corp. (MTBC) Recognized Among Deloitte’s Technology Fast 500™ for Sustained Revenue Growth
Before the opening bell, Medical Transcription Billing, Corp. (NASDAQ: MTBC) (NASDAQ: MTBCP) announced that it has been named among Deloitte’s Technology Fast 500™ based on its 130 percent revenue growth from 2012 to 2015. The Deloitte rankings list the fastest growing technology, media, telecommunications, life sciences and energy technology companies in North America across both the public and private sectors. Eligibility requirements for inclusion on the list include an operating history of at least four years, current-year operating revenues of at least $5 million and ownership of proprietary intellectual property or technology that’s sale or licensing accounts for a majority of the company’s operating revenues.
“As we celebrate our fifteenth year of business, we thank our customers and employees for enabling us to continue growing at a rate that even outpaces most early stage private and public companies,” Stephen Snyder, president of MTBC, stated in this morning’s news release. “Of the 500 companies ranked on Deloitte’s prestigious list in 2016, MTBC was among a smaller subset of the named companies that is publicly traded on NASDAQ and we are honored to be included among this group of market leaders.”
According to the company’s management team, MTBC’s sustained revenue growth is attributable to a combination of an industry-leading technology platform and a high quality, cost-efficient operations team that currently spans five countries and includes roughly 250 information technology and R&D professionals. The effectiveness of the company’s operations team is particularly noteworthy following MTBC’s recent acquisition of MediGain, LLC and affiliate Millennium Practice Management, LLC. In addition to purchasing accounts in good standing with annual revenues of more than $10 million as part of the strategic acquisition, the MediGain transaction added seasoned team members in North America and talented, cost-effective workforces in Asia to MTBC’s existing operations. Combined, these factors are expected to make this acquisition accretive to MTBC shareholders in 2017.
“We are greatly encouraged by the growth opportunities provided by our recent acquisition of MediGain,” Mahmud Haq, chairman and chief executive officer of MTBC, stated in a news release. “The successful closing of this transaction has positioned MTBC to experience exponential growth through access to new, untapped markets.”
Last week, MTBC offered shareholders an update on its recent performance through the release of its financial and operational results for the third quarter of 2016. The company’s revenues for the three-month period were $5.3 million, up from $5.2 million in the second quarter of this year. This result built on a trend of quarter-over-quarter revenue growth that has persisted throughout 2016. On a year-over-year basis, MTBC’s revenues were down slightly, which management attributed to a loss of clients from the businesses it acquired during the third quarter of 2014. The team discussed this trend in more detail as part of a conference call held last week. An audio webcast of the call is currently available for review on MTBC’s investor relations website.
For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
Twitter Expands Mute Feature To Tackle Trolls
http://dtn.fm/wd0PD
Twitter users who have been subject to abuse and hate on the social media platform now have more control over the content they receive notifications for. On Tuesday, the micro-blogging website announced it was expanding the “mute” feature from accounts to keywords, phrases and conversations.
In a blog post titled “Progress on addressing online abuse,” Twitter said it had “seen a growing trend of people taking advantage of that openness and using Twitter to be abusive to others. … Because Twitter happens in public and in real-time, we’ve had some challenges keeping up with and curbing abusive conduct. We took a step back to reset and take a new approach, find and focus on the most critical needs, and rapidly improve. There are three areas we’re focused on, and happy to announce progress around today: controls, reporting, and enforcement.”
In another article, Twitter explains how to use the new expanded feature. For starters, it must be pointed out that muting any content does not actually make the content invisible to you, it only mutes the notification of such content. If you search for it or happen to otherwise stumble upon it in your timeline, you will still see it. But you can customize the notifications you receive from Twitter, on the site, the app, email or however else the service notifies you.
To use the feature, you will need to add words or phrases to your Mute list by going to the settings in the Notifications tab. The process differs for different platforms, and is detailed on this page.
Muting is not case-sensitive. So if you choose to mute “troll,” its variants — TROLL, Troll, TrOlL and all other such — will also be muted. Muting a word will also mute its hashtag. Therefore, muting “troll” will also mute “#troll”. To mute a phrase, you can add punctuation between words. You can also mute emojis, as well as notifications from accounts by adding the “@” sign before the account name.
To mute conversations, go to the details of any message in the conversation you want to stop notifications for, choose the drop-down arrow icon in the apps or the dots for more options on the website, which will bring up the option to mute the conversation.
The feature is available across all languages supported by Twitter and words, phrases, emojis, hashtags or whatever else you choose to mute will stay that way till such time as you manually un-mute them.
Muting entire accounts is a simpler process, details for which can be found here.
Twitter received a lot of flak in recent months for not doing enough to curb online abuse, while also being criticized for being against free speech when it banned for life Milo Yiannopoulos, a Breitbart News employee accused of inciting hate speech against actress Leslie Jones.
eXp World Holdings, Inc. (EXPI) Announces Third Quarter Financial Results
Earlier today, eXp World Holdings, Inc. (OTCQB: EXPI) released its financial results for the third quarter of 2016. Among the highlights, the company achieved a 112 percent year-over-year increase in revenues, recording $15.6 million for the three-month period ended September 30. EXPI attributed this increase to the growth of its real estate division, eXp Realty, which now includes more than 2,130 real estate professionals across 41 states, the District of Columbia and Alberta, Canada. This total marks an increase of more than 150 percent from the end of Q3 2015.
In recent weeks, eXp Realty’s commitment to offering an unparalleled value proposition to its agents and brokers has helped it attract a number of high-profile professionals to its ranks. In October, the company announced the addition of Miguel Herrera, known as the top international luxury agent in all of South Texas, to the Agent-Owned Cloud Brokerage®. Other recent additions to the eXp Realty team include the Brent Gove Team, which was recognized as one of the top real estate teams in California; Darren James Real Estate Experts, which was ranked number one in the Gulf States region by REALTOR® for total production in both 2014 and 2015; and Burch & Co. Real Estate, which was ranked the top real estate firm in Northeast Arkansas in 2015.
“It continues to be gratifying to know that creating a cloud-based brokerage focused on the agent resonates so clearly that it is reflected in the continued high rate of growth in agent count and revenues,” Glenn Sanford, chairman and chief executive officer of EXPI, stated in the news release. “With this level of growth also comes the responsibility to manage that growth so it is sustainable over the long haul. Continually evaluating and investing in the infrastructure and tools necessary to support our growth and ensure scalability of eXp Realty’s business model is a top priority and is a commitment shared at all levels of the organization, from the board, senior leadership and other stakeholders.”
In addition to its revenue growth, EXPI successfully strengthened its cash position in the third quarter of 2016. The company reported cash and cash equivalents of $944,000 as of September 30, marking an increase of 110 percent from the comparable period of 2015. Total stockholder’s equity was also up an impressive 141 percent to $2 million at the close of Q3, which was a year-over-year increase of 141 percent.
Rounding out its latest financial release, EXPI reported a net loss attributable to common shareholders of $14.6 million for the three-month period. This loss was primarily attributable to a $14.1 million non-cash stock option compensation expense. The adjusted net loss attributable to common shareholders was reported at $559,000 for the quarter.
For more information, visit the company’s website at www.eXpWorldHoldings.com
Moxian, Inc. (MOXC) Uplists to Nasdaq Capital Market
In an exclusive interview with MissionIR released late last year, Edmund Ooi, Vice President and Director of Creative & Marketing with Moxian, Inc. (NASDAQ: MOXC), outlined the company’s near- and long-term goals. Along with expanding Moxian’s merchant base and increasing revenues, Ooi pointed toward uplisting the company’s common stock as a major goal in order to widen its visibility within the investment community and increase shareholder value. Earlier today, Moxian achieved this goal, as its common stock began trading on the Nasdaq Capital Market.
The uplisting was announced in a news release issued after market close on Monday. The release also highlighted Moxian’s recent completion of a best efforts public offering of 2,501,250 shares of its common stock at a public offering price of $4.00 per share. The company expects gross proceeds from this offering to total just over $10 million, before deducting placement agents’ commissions and related expenses. Axiom Capital Management, Inc. and Cuttone & Co., Inc. acted as placement agents for the offering.
Moxian engages in the business of providing social marketing and promotion platforms to merchants aiming to promote their operations through social media channels. The company’s Moxian+ (Business) mobile app provides the business tools and data analytics capabilities required to drive increased conversion and retention rates. Through the Moxian+ (User) app, consumers have the option to collect loyalty points from issuing merchants, win MO-Coins that can be used with any merchant in the Moxian ecosystem and chat with friends. When combined, these two apps create a powerful online-to-offline (O2O) platform designed to help merchants accelerate business growth by studying trends and other data regarding their target consumers.
The scope of the O2O commerce marketplace is worth noting, particularly as it relates to Moxian’s home markets within the People’s Republic of China. According to eMarketer (http://dtn.fm/WdE19), O2O ecommerce sales in China are expected to surpass $62.4 billion in 2016, with forecasts calling for annual growth of about 21 percent over the next two years. In January, Moxian better-positioned itself to capitalize on this forecast growth through the formation of a new corporate subsidiary in Beijing. Maintaining this presence in the national and cultural center of China is expected to offer numerous opportunities to Moxian as it continues to expand upon its position in the growing O2O market.
For more information, visit the company’s website at www.Moxian.com
National Waste Management Holdings, Inc. (NWMH) Announces Engagement of NetworkNewsWire
Earlier today, National Waste Management Holdings, Inc. (OTC: NWMH) announced its engagement of NetworkNewsWire (NNW), a multifaceted financial news and publishing company that delivers a new generation of social communication solutions, news aggregation and syndication, and enhanced news release services. Leveraging a rapidly expanding distribution network that currently includes well over 5,000 key syndication outlets, NNW specializes in helping both public and private organizations “find their voice and build market visibility.”
Through its newly-announced Client-Partner relationship with National Waste, NNW will utilize its investor-based Brand Network of partners, as well as various newsletters, social media channels, blogs and other outreach tools, in order to cut through the overload of information in today’s market and generate greater brand awareness for the company throughout the investment community.
“National Waste is rightfully enthused about its growing position in the waste management industry. The Company has reported three straight quarters of revenue growth, powered by the performance of its Florida landfill and supplemented by an aggressive acquisition strategy,” Sherri Franklin, Director of Content Marketing for NNW, stated in this morning’s news release. “We look forward to working alongside National Waste’s management team to elevate the company’s corporate communications with existing shareholders and the broader investment community.”
The NNW announcement continues to build on what has been a hot start to the week for National Waste. On Monday, the company announced its financial results for the three-month and nine-month periods ended September 30, 2016. Among National Waste’s third quarter financial highlights, the company successfully achieved a 269 percent year-over-year increase in revenue, marking its third consecutive quarter of triple-digit quarterly revenue growth. Similarly, National Waste’s revenues for the first nine months of 2016 were up 262 percent from the comparable period of 2015, totaling $4.8 million.
This performance was largely attributed to National Waste’s aggressive acquisition strategy, which included the acquisitions of both Waste Recovery Enterprises and Gateway Rolloff Services during the fourth quarter of 2015. Continuing with this strategy, National Waste also completed the acquisition of Sivart Services LLC, a roll-off and compactor business located in upstate New York, earlier this year. By capitalizing on these growth opportunities, National Waste aims to establish itself as a leading vertically-integrated solid waste management company and a dominant regional player in both Florida’s west coast and upstate New York.
“Simply put, National Waste is on the move. Since 2015 we have completed four strategic acquisitions, demonstrating our commitment to build shareholder and corporate value as well as our ability to penetrate chosen markets with tactical execution of our acquisition strategy,” Louis Paveglio, chief executive officer of National Waste, stated in this morning’s news release. “As we continue to advance our operations and offerings, we believe clear communication with shareholders will further propel the success of our corporate initiatives. By partnering with NNW, we are able to focus on our acquisition-based growth strategy while strengthening our corporate message.”
For more information, visit the company’s website at www.nationalwastemgmt.com
Net Element, Inc. (NETE) – Understanding the Importance of Business Intelligence
According to a report published by Econsultancy (http://dtn.fm/0S0Wa), “The vast majority (84%) of marketers agree that their understanding of the customer is increasing over time, and 64% say that they are using data-driven customer insights to adapt their marketing strategies and influence business decisions.”
As a result, companies around the world are now adopting more in-depth business intelligence techniques. There has been a steady rise in the importance of data analytics to organizations of all kinds. According to Forbes (http://dtn.fm/sABs4), the U.S. Bureau of Labor Statistics report showed that the job market for data analyst disciplines is increasing by approximately 27% every year.
Aside from the rise of data analyst jobs, companies such as Net Element, Inc. (NASDAQ: NETE) are offering business analytics in the form of software as part of their services. The global technology-driven group specializes in mobile payment solutions, but also offers reports and analytics solutions, giving clients a 360 degree view of their businesses. The aim of this service is to make monitoring a business easier with an all-in-one dashboard.
But it’s important to understand why business analytics has become so imperative. Virtually any business of any size can benefit from business intelligence software. With analytics software, businesses can pull together data and create reports, freeing up resources and allowing employees to be more productive while also working toward clearer goals.
In addition to boosting productivity and enabling team members to understand company goals in more depth, data analytics, or business intelligence, allows companies to better understand their target audiences by gaining insight into customer behavior. Through gathering and understanding this data, organizations are able to turn it into actionable information, which in turn will help increase sales and marketing intelligence.
NETE’s reports and analytics service, Unified Payments Insights, is an easy way for businesses to monitor their business metrics and undertake competitor analysis. Net Element’s all-in-one dashboard allows merchants to compare current revenue, social media activity, and online reputation (on website such as TripAdvisor, Yelp, Foursquare, and others) to their past performance.
For more information, visit www.NetElement.com
Facebook, Google bar fake-news sites from their ad networks
http://dtn.fm/RTb3M
Facebook Inc. and Alphabet Inc.’s GOOG, -2.38% GOOGL, -2.40% Google announced steps to prevent fake-news websites from generating revenue through their ad-selling services, signs that technology companies are moving to address a growing controversy about misinformation on the internet.
A Facebook FB, -3.31% spokesman said it will explicitly ban sites that traffic in fake news from using the Facebook Audience Network, saying they fall under the category of misleading, illegal or deceptive sites already barred. The audience network places ads on other websites and mobile apps.
Earlier Monday, Google said it plans to prevent Google ads from being placed “on pages that misrepresent, misstate, or conceal information about the publisher, the publisher’s content, or the primary purpose” of the website. The policy would cover sites that distribute false news, a Google spokeswoman said.
False news stories, particularly those that spread widely on Facebook, became an issue during the recent presidential election. Google experienced its own mishap on Sunday when a story on a right-wing blog erroneously stating Donald Trump won the popular vote appeared atop some Google search results.
Moxian, Inc. (MOXC) O2O Platform Connects Consumers, Businesses for ‘Online Lifestyle, Offline Fun’
Although it started mostly as a way for brick-and-mortar merchants to get more customers by offering special deals and discounts via online advertising, a tendency that is still maintained, the Online-to-Offline (O2O) market has rapidly evolved past that point to include all manner of services and to serve as a connecting bridge between consumers and merchants. The market has grown to include click-and-collect services traditionally offered by brick-and-mortar merchants, as well as on-demand services such as Airbnb or Uber, deal sites such as Meituan.com or Groupon (NASDAQ: GRPN), all the way to services such as fresh market delivery, pick-up dry cleaning, restaurant booking, food delivery, and more.
The expansion of O2O services is likely to play a major part in the growth of China’s massive eCommerce sector, expected to reach $1.1 trillion by 2020. With this in mind, a growing number of Chinese companies, such as Shenzhen-based Moxian, Inc. (OTCQB: MOXC), have begun to invest heavily in the O2O sector and have even developed specific software and tools aimed at both merchants and consumers active in this market. Chinese eCommerce giant Alibaba Group Holding Limited (NYSE: BABA) last year purchased 20% of consumer electronics chain Suning for $4.63 billion and, earlier this year, invested more than $1 billion in food delivery services Ele.me. In addition, a growing number of O2O businesses will focus on ways of providing services and products to regions where they were previously unavailable. Alibaba’s Taobao platform has actually started a campaign recently to encourage Chinese farmers to sell their products on the platform.
Moxian’s O2O platform targets small- and medium-sized enterprises, including traditional brick-and-mortar vendors, being designed to help them connect with prospects and customers at a deeper level. By integrating social media features, entertainment and gamification, and business intelligence capabilities, the Multi-Channel Social Commerce Platform allows both consumers and businesses to connect and interact under the unique concept of ‘Online Lifestyle, Offline Fun’. More specifically, the comprehensive platform has at its core a proprietary Social Customer Relationship Management tool developed with the specific goal of improving consumer-business interaction by allowing vendors to run targeted marketing and advertising campaigns.
The Moxian+ Business app allows merchants to collect and analyze insightful behavior data about their customers, with the purpose of knowing their audience better and offering each and every user group a more personalized experience. The user data is collected through the Moxian+ User app, dedicated to shoppers, which includes a gaming center, a rewards redemption center and social media networking capabilities. Based on geolocation and a user’s preferences the app also makes personalized shopping recommendations, including vendors, promotions and special deals that are in the user’s vicinity.
For more information, visit the company’s website at www.Moxian.com
Net Element, Inc. (NETE) Reports 55% YOY Increase in Net Revenues for First Nine Months of 2016
Earlier today, Net Element, Inc. (NASDAQ: NETE) reported its financial results from the fiscal quarter and nine-month period ended September 30, 2016. Among the highlights, the company achieved year-over-year net revenue growth of 11 percent for the three-month period, recording $14,009,652. This performance was attributed primarily to organic growth in its North America Transaction Solutions segment. Through an emphasis on value-added offerings for small and medium-sized businesses, Net Element’s North America Transaction Solution segment was up 43 percent over the prior year, recording revenues of $3.4 million.
“Our results are a reflection of our ability to implement our business objectives in a dynamic environment,” Oleg Firer, chief executive officer of Net Element, stated in this morning’s news release. “We continue to be excited about our strategic initiatives for the remainder of the year.”
For the first nine months of 2016, Net Element achieved overall net revenue growth of 55 percent, as compared to the same period in 2015, driven by strong organic growth across its North America Transaction Solution segment, as well as its mobile and online solutions segments. Revenue from the company’s North America Transaction Solution segment was up 53 percent through the first nine months of the year to $29.4 million. Likewise, net revenues from Net Element’s mobile solutions segment were up 43 percent year-over-year, while its online solutions division posted a 92 percent increase in net revenues over 2015.
Net Element’s strong growth hasn’t gone unnoticed. Earlier this year, the company was recognized as one of the South Florida Business Journal’s Top 25 Fastest-Growing Technology Companies. Setting the stage to build on this performance, Net Element has continued to expand its presence in the mobile and online payments space in recent months. In late September, the company announced that wholly-owned subsidiary PayOnline had signed an agreement with Dunkin’ Donuts (NASDAQ: DNKN) to enable payment acceptance for online ordering and delivery services for the chain’s Russian locations. Weeks later, Net Element’s PayOnline subsidiary entered an agreement with ExLine, Kazakhstan’s market leader in courier services, to enable online payment acceptance.
The company’s management team will be discussing these milestones, as well as Net Element’s newly-released financial results, in a conference call on November 15, 2016 at 8:30 AM ET. To access the call, investors should dial +1 (877) 303-9858 (or for international callers +1 (408) 337-0139) and reference the password 18929736. For those unable to attend the call, a recorded replay will also be made available on Net Element’s investor relations website at www.netelement.com/en/ir.
For more information, visit www.NetElement.com
National Waste Management Holdings, Inc. (NWMH) Announces 269% Revenue Growth for Third Quarter
Before the opening bell, National Waste Management Holdings, Inc. (OTC: NWMH) announced its financial results for the three months ended September 30, 2016. Notably, the company achieved year-over-year revenue growth of 269 percent, recording $1.7 million in total revenue for the quarter. National Waste recorded similar growth for the first nine months of 2016, with total revenue of $4.8 million, which marked an increase of 262 percent from the comparable period of 2015.
This financial growth is largely attributable to the company’s aggressive acquisition strategy, highlighted through the 2015 acquisitions of Waste Recovery Enterprises and Gateway Rolloff Services. National Waste leveraged this strategy once again in June of this year, when it acquired Sivart Services, a roll-off and compactor business located in Worchester, New York, in an effort to expand its geographic footprint in the northeast while supporting additional revenue growth.
“We are pleased to report our third-quarter 2016 results, marking three consecutive quarters of triple-digit quarterly revenue growth. Our third-quarter performance largely reflects the effectiveness of our acquisition strategy and, in correlation, our growing customer base,” Louis Paveglio, chief executive officer of National Waste, stated in this morning’s news release. “Moving forward, we expect to see continued improvements in profitability as a result of our acquisitions of WRE and Gateway in 2015, supported by our acquisition of Sivart Services earlier this year and our rapidly expanding presence in the northeast.”
In addition to its strong financial performance, National Waste made efforts to strengthen its position in the solid waste management industry during the third quarter by expanding its management team. On August 18, 2016, the company appointed Dali Kranzthor to the position of chief financial officer. Kranzthor added considerable financial experience to the National Waste team, having previously served in leadership roles with numerous privately-held and publicly-held firms located throughout Florida. Most recently, he served as the director of audit and assurance and valuation services at a boutique accounting firm in St. Petersburg, where he worked with both large private businesses and high wealth individuals.
“During the third quarter of 2016 we continued to execute on our business model and build our team and footprint through effective management and acquisitions,” Kranzthor added in this morning’s news release. “When I joined National Waste in the fall of this year, I walked into a flurry of progression and look forward to providing my expertise for continued growth for the remainder of 2016 and beyond.”
Moving forward, National Waste could look to continue its revenue growth through the completion of additional accretive acquisitions. In a news release earlier this year, Paveglio stated that National Waste had already identified a number of potential acquisition targets that are consistent with its business strategy. The momentum provided by these and other ongoing initiatives is expected to spur additional revenue growth as National Waste continues to expand its solid waste solutions in order to meet growing demand.
For more information, visit the company’s website at www.nationalwastemgmt.com
Achaogen, Inc. (AKAO) Attacks Super Bugs: Plazomicin Phase III Trials Are Underway
The era of the super bug is upon us, and Achaogen, Inc. (NASDAQ: AKAO) has joined the fray against them. For close to one hundred years, antibiotics have lowered the prevalence and severity of infectious diseases. Increasingly, though, it is becoming apparent that the bacterial world is fighting back. Infections of the urinary tract (UTI) and others such as acne, bronchitis and streptococcal pharyngitis (strep throat) are becoming more resistant to the antibiotics that are most commonly prescribed to treat them.
And this threat is compounded by the rise of the super bug, strains of bacteria that have already evolved defenses against a range of antibiotics. However, Achaogen is close to launching a new line of attack against these pathogens. Two phase III trials for its lead product candidate are currently in progress, and top-line results from both are expected in the first quarter of 2017.
Up until the 1930s, we were at the mercy of bacterial infections. Indeed, it was only about half a century before, in 1876, when German physician Robert Koch, in identifying the causes of anthrax, cholera and tuberculosis, showed that bacteria caused disease. In 1928, Dr. Alexander Fleming made the astounding discovery that the penicillium mold inhibited the growth of bacteria, and the penicillin extracted there from set a new paradigm for twentieth-century medical science. A PBS story (http://dtn.fm/Yl2DQ) gives some idea of its success:
“In the war, penicillin proved its mettle. Throughout history, the major killer in wars had been infection rather than battle injuries. In World War I, the death rate from bacterial pneumonia was 18 percent; in World War II, it fell, to less than 1 percent.”
Dr. Fleming was awarded the Nobel Prize in 1945, and, in his acceptance speech, he issued a prescient warning that the improper use of penicillin might eventually make it ineffective. If the drug could ‘be bought by anyone in the shops, then there is the danger that the ignorant man may easily under dose himself and by exposing his microbes to non-lethal quantities of the drug make them resistant.’ Unfortunately, this prophesy has come true. Not only for penicillin, but for a wide range of other antibiotics, effectiveness today is markedly down from previous decades.
These dangers are exacerbated by a range of super bugs that are multi-drug resistant (MDR) and include carbapenem-resistant Enterobacteriaceae (CRE). Generally, healthy people in their normal environments do not contract CRE infections. Such maladies arise in hospitals, nursing homes, and other health care settings. It is for such malaises that Plazomicin is being developed. The drug will be used to treat serious bacterial infections due to MDR Enterobacteriaceae, including CRE.
It is currently being evaluated in two phase III clinical trials. For the first, designated EPIC (Evaluating Plazomicin in cUTI), Achaogen completed enrollment ahead of schedule in September with 609 patients. Top-line results are expected in the first quarter of 2017. The EPIC study is intended to serve as a single pivotal trial supporting a New Drug Application (NDA) for Plazomicin in the United States in the second half of 2017.
The second CARE (Combating Antibiotic Resistant Enterobacteriaceae) Phase III trial is for patients with serious bacterial infections due to CRE. Due to rapid completion of enrollment of the EPIC trial, Achaogen closed enrollment in the CARE trial with 69 patients and expects to announce top-line data from this trial early in the first quarter of 2017 as well. Results from CARE will be submitted with the NDA.
The FDA has granted Qualified Infectious Disease Product (QIDP) designation to Plazomicin, and development and regulatory review of its use to treat serious and life-threatening CRE infections has been given Fast Track status. The plazomicin program is partially funded by up to $103.8 million from the Biomedical Advanced Research and Development Authority (BARDA).
A report (http://dtn.fm/GKWi3) from Aegis Capital Corp. has set a target PPS of $10.00 for Achaogen. The company’s stock, under the symbol AKAO, is currently trading on the NASDAQ at under $5.00.
For more information, please visit www.achaogen.com
Monaker Group (MKGI) – A Growing Presence in Alternative Lodging Rental Market
The alternative lodging rental market is maturing quickly, being one of the fastest growing verticals in the travel industry over the last few years. Already believed to be worth more than $100 billion worldwide, the sector continues to expand rapidly as more and more vacation rentals companies are joining the game alongside the now-famous HomeAway, Booking.com and Airbnb. Monaker Group, Inc. (OTCQB: MKGI), a technology-driven travel group that offers comprehensive tourism solutions and personalized tours, already maintains an important presence in the alternative lodging market, with a portfolio of more than one million rental units available.
The vacation rental market began expanding more quickly in the Internet era, starting with booking site VRBO, which was set up back in 1996 by a Colorado couple. The business was acquired by HomeAway in 2006 and became the dominant vacation rental listings hub. In 2015, HomeAway was purchased by Expedia (NASDAQ: EXPE) for $3.9 billion, a move that consolidated Expedia’s position as one of the largest online travel agents (OTA) operating at the moment. According to Expedia CEO Dara Khosrowshahi, the alternative lodging rental segment has become a major part of Expedia’s business, now having more than one million bookable listings available. The number continues to grow at a fast rate of over 20 percent, Khosrowshahi said.
Another major OTA, Priceline (NASDAQ: PCLN) occupies a good portion of the vacation rentals market through Booking.com listings. Booking.com now has about half a million instantly bookable vacation rental properties, which is almost 40 percent higher than in 2015. The approximately 1 million total properties listed on the website make for approximately 23.7 million bookable rooms, 7.3 million of which are in apartments, homes or villas, while the rest are in traditional hotels.
Capitalizing on a global trend of tourists looking for more personalized experiences wherever they travel, the vacation rental market is expected to grow significantly over the next few years, likely reaching $170 billion by 2019. Most of this growth is owed to Europe and the U.S., where the alternative lodging model is highly popular, according to a Research and Markets report (http://dtn.fm/mUT1g). Approximately 24 percent of travelers have opted for alternative lodging during the past two years, while roughly 47 percent are interested in staying at a vacation rental unit in the near future. In the U.S. in 2015, one in three tourists stayed in a private accommodation, which marks a significant change from 2011, when only one in ten Americans used alternative lodging.
With a portfolio of more than 1.1 million alternative lodging rental units available under its NextTrip Resorts platform, and currently in the process of adding more than 200,000 timeshare and resort units by the end of the year, Monaker Group is poised to establish a growing presence in the global vacation rentals market. The group owns several travel-related businesses, but its flagship is undoubtedly NextTrip.com, which allows tourists to plan their trips to the smallest details by offering them access to a wealth of alternative lodging options such as vacation home rentals, resort residences and unused timeshare inventory, all alongside a wide range of hotels, tours, rental cars, airlines, concierge services and more. The platform, launched in February 2016, has grown exponentially, being the first and only real-time booking engine that combines various booking options to meet tourists’ every need.
To further support the vacation rental market, Monaker Group this summer launched a Premium Service for alternative lodging owners, aimed at helping them compete against major travel industry suppliers, including hotels, car rental companies and airlines. The service offers various tools and features that will give homeowners real-time booking capabilities, the ability to update property pricing daily so as to better reflect the market conditions, and other benefits.
For more information, visit www.MonakerGroup.com
Trevena, Inc. (TRVN) is “One to Watch”
Trevena, Inc. (NASDAQ: TRVN) is a clinical stage biopharmaceutical company focused on developing and delivering biased ligands to discover the next generation of GPCR targeted medicine. The company is focused on three product candidates:
Oliceridine, for moderate to severe acute pain;
TRV734, an oral use medicine for people in moderate, severe acute, and chronic pain;
and TRV250, for those suffering from migraines.
On November 7, 2016, Aegis Capital Corp. (http://dtn.fm/bB9sC) initiated coverage on Trevena, Inc., offering the company a ‘Buy’ rating with a target price of $14. This rating was released soon after the company reported its third quarter 2016 financial results alongside a corporate update. In the press release, CEO Maxine Gowen reported important progress for the quarter ending September 30, 2016.
According to Trevena’s third quarter report, top-line data from its APOLLO-1 and APOLLO-2 phase III efficacy trials of Oliceridine is on track for release in the first quarter of 2017, and the patient enrollment remains on track in the ETHENA multi-procedure safety study of Oliceridine to support an NDA filing in 2H 2017. Trevena, Inc. also announced that its TRV250 program is on track for IND submission this year.
The company has reported continued engagement at pain medicine conferences, and has hosted an investor webcast featuring presentations on acute pain management by leading clinicians.
Out of the seven analysts who have covered Trevena this year, six rated the company at ‘Buy’ and one at ‘Hold’. In the first weeks of November, Trevena has reported a stock price increase of roughly 50 percent to $5.75 per share as of November 11, an increase of $1.94 per share from its November 3 PPS.
For more information, visit the company’s website at www.trevena.com
Monaker Group (MKGI) – A Growing Presence in Alternative Lodging Rental Market
The alternative lodging rental market is maturing quickly, being one of the fastest growing verticals in the travel industry over the last few years. Already believed to be worth more than $100 billion worldwide, the sector continues to expand rapidly as more and more vacation rentals companies are joining the game alongside the now-famous HomeAway, Booking.com and Airbnb. Monaker Group, Inc. (OTCQB: MKGI), a technology-driven travel group that offers comprehensive tourism solutions and personalized tours, already maintains an important presence in the alternative lodging market, with a portfolio of more than one million rental units available.
The vacation rental market began expanding more quickly in the Internet era, starting with booking site VRBO, which was set up back in 1996 by a Colorado couple. The business was acquired by HomeAway in 2006 and became the dominant vacation rental listings hub. In 2015, HomeAway was purchased by Expedia (NASDAQ: EXPE) for $3.9 billion, a move that consolidated Expedia’s position as one of the largest online travel agents (OTA) operating at the moment. According to Expedia CEO Dara Khosrowshahi, the alternative lodging rental segment has become a major part of Expedia’s business, now having more than one million bookable listings available. The number continues to grow at a fast rate of over 20 percent, Khosrowshahi said.
Another major OTA, Priceline (NASDAQ: PCLN) occupies a good portion of the vacation rentals market through Booking.com listings. Booking.com now has about half a million instantly bookable vacation rental properties, which is almost 40 percent higher than in 2015. The approximately 1 million total properties listed on the website make for approximately 23.7 million bookable rooms, 7.3 million of which are in apartments, homes or villas, while the rest are in traditional hotels.
Capitalizing on a global trend of tourists looking for more personalized experiences wherever they travel, the vacation rental market is expected to grow significantly over the next few years, likely reaching $170 billion by 2019. Most of this growth is owed to Europe and the U.S., where the alternative lodging model is highly popular, according to a Research and Markets report (http://dtn.fm/mUT1g). Approximately 24 percent of travelers have opted for alternative lodging during the past two years, while roughly 47 percent are interested in staying at a vacation rental unit in the near future. In the U.S. in 2015, one in three tourists stayed in a private accommodation, which marks a significant change from 2011, when only one in ten Americans used alternative lodging.
With a portfolio of more than 1.1 million alternative lodging rental units available under its NextTrip Resorts platform, and currently in the process of adding more than 200,000 timeshare and resort units by the end of the year, Monaker Group is poised to establish a growing presence in the global vacation rentals market. The group owns several travel-related businesses, but its flagship is undoubtedly NextTrip.com, which allows tourists to plan their trips to the smallest details by offering them access to a wealth of alternative lodging options such as vacation home rentals, resort residences and unused timeshare inventory, all alongside a wide range of hotels, tours, rental cars, airlines, concierge services and more. The platform, launched in February 2016, has grown exponentially, being the first and only real-time booking engine that combines various booking options to meet tourists’ every need.
To further support the vacation rental market, Monaker Group this summer launched a Premium Service for alternative lodging owners, aimed at helping them compete against major travel industry suppliers, including hotels, car rental companies and airlines. The service offers various tools and features that will give homeowners real-time booking capabilities, the ability to update property pricing daily so as to better reflect the market conditions, and other benefits.
For more information, visit www.MonakerGroup.com
MKGI – A Growing Presence in Alternative Lodging Rental Market
The alternative lodging rental market is maturing quickly, being one of the fastest growing verticals in the travel industry over the last few years. Already believed to be worth more than $100 billion worldwide, the sector continues to expand rapidly as more and more vacation rentals companies are joining the game alongside the now-famous HomeAway, Booking.com and Airbnb. Monaker Group, Inc. (OTCQB: MKGI), a technology-driven travel group that offers comprehensive tourism solutions and personalized tours, already maintains an important presence in the alternative lodging market, with a portfolio of more than one million rental units available.
The vacation rental market began expanding more quickly in the Internet era, starting with booking site VRBO, which was set up back in 1996 by a Colorado couple. The business was acquired by HomeAway in 2006 and became the dominant vacation rental listings hub. In 2015, HomeAway was purchased by Expedia (NASDAQ: EXPE) for $3.9 billion, a move that consolidated Expedia’s position as one of the largest online travel agents (OTA) operating at the moment. According to Expedia CEO Dara Khosrowshahi, the alternative lodging rental segment has become a major part of Expedia’s business, now having more than one million bookable listings available. The number continues to grow at a fast rate of over 20 percent, Khosrowshahi said.
Another major OTA, Priceline (NASDAQ: PCLN) occupies a good portion of the vacation rentals market through Booking.com listings. Booking.com now has about half a million instantly bookable vacation rental properties, which is almost 40 percent higher than in 2015. The approximately 1 million total properties listed on the website make for approximately 23.7 million bookable rooms, 7.3 million of which are in apartments, homes or villas, while the rest are in traditional hotels.
Capitalizing on a global trend of tourists looking for more personalized experiences wherever they travel, the vacation rental market is expected to grow significantly over the next few years, likely reaching $170 billion by 2019. Most of this growth is owed to Europe and the U.S., where the alternative lodging model is highly popular, according to a Research and Markets report (http://dtn.fm/mUT1g). Approximately 24 percent of travelers have opted for alternative lodging during the past two years, while roughly 47 percent are interested in staying at a vacation rental unit in the near future. In the U.S. in 2015, one in three tourists stayed in a private accommodation, which marks a significant change from 2011, when only one in ten Americans used alternative lodging.
With a portfolio of more than 1.1 million alternative lodging rental units available under its NextTrip Resorts platform, and currently in the process of adding more than 200,000 timeshare and resort units by the end of the year, Monaker Group is poised to establish a growing presence in the global vacation rentals market. The group owns several travel-related businesses, but its flagship is undoubtedly NextTrip.com, which allows tourists to plan their trips to the smallest details by offering them access to a wealth of alternative lodging options such as vacation home rentals, resort residences and unused timeshare inventory, all alongside a wide range of hotels, tours, rental cars, airlines, concierge services and more. The platform, launched in February 2016, has grown exponentially, being the first and only real-time booking engine that combines various booking options to meet tourists’ every need.
To further support the vacation rental market, Monaker Group this summer launched a Premium Service for alternative lodging owners, aimed at helping them compete against major travel industry suppliers, including hotels, car rental companies and airlines. The service offers various tools and features that will give homeowners real-time booking capabilities, the ability to update property pricing daily so as to better reflect the market conditions, and other benefits.
For more information, visit www.MonakerGroup.com
Celldex Therapeutics, Inc. (CLDX) is “One to Watch”
Last month, Celldex Therapeutics, Inc. (NASDAQ: CLDX), a company in the business of developing targeted therapeutics for those suffering from devastating diseases for which current treatments are inadequate, found positive results from its phase II study of glembatumumab vedotin in patients with stage III/IV checkpoint inhibitor-refractory. The study showed that patients experienced a confirmed response, with 52% of patients experiencing tumor shrinkage. In addition, by close of market on November 8, 2016, Celldex stock was up significantly as investors reacted to the company’s third quarter earnings report, which surpassed estimates for revenue and EPS. CLDX’s stock rose by nearly 15% to close at $3.78 on 9.01 million shares, more than four times the company’s average.
Aside from its recent growth, Celldex announced the acquisition of Kolltan Pharmaceuticals, Inc. on November 1. Kolltan is a privately owned clinical-stage company that develops new antibody-based drugs and is worth $62.5 million in stock. “Celldex believes Kolltan’s clinical candidates and preclinical platform are highly compatible with the Company’s scientific approach and can be developed independently and in combination with Celldex’s existing product candidates,” according to a statement shared on the Scibility Media website (http://dtn.fm/aD3xZ).
On November 7, Aegis Capital Corp. (http://dtn.fm/bXxJ5) initiated coverage on Celldex Therapeutics, Inc., giving the company a ‘Buy’ rating and a target price of $10. In addition, as of November 8, 2016, ClosingBell Active Analyst Ratings (http://dtn.fm/0W6w6) gave CLDX an average stock rating of 3.6 on a one to five scale, with five denoting ‘Buy’ and one indicating ‘Sell’. The numbers above are predicted to allow Celldex Therapeutics, Inc. to fund its operations through 2018.
For more information, visit the company’s website at www.celldex.com
Facebook’s Zuckerberg: ‘Crazy idea’ that fake news posts influenced election
http://dtn.fm/0Njah
Facebook Inc. Chief Executive Mark Zuckerberg on Thursday fought back against accusations that the social network harmed political discourse this year by allowing fake news to flourish on the platform.
“Personally I think the idea that fake news on Facebook — of which it’s a very small amount of the content — influenced the election in any way is a pretty crazy idea,” Zuckerberg said at a conference in Half Moon Bay, Calif.
He also said the company exposed its 1.8 billion monthly users to various views, countering the criticism that Facebook has created a “filter bubble” of like-minded people. He said the content is out there — but users don’t click on it.
The surprise triumph of Trump has sparked considerable debate about the role of social media in shaping the race’s often toxic and divisive rhetoric. Critics say the company needs to do more to ensure that fake news doesn’t spread rapidly on across the social network, potentially misinforming voters. Zuckerberg said that argument reflected a lack of empathy for why voters favored Donald Trump over Hillary Clinton. “Why would you think fake news would be on one side, but not on the other?” he said.
Neuralstem, Inc. (CUR) May Lift the Blues with its Novel Neurogenetic NSI-189
Major Depressive Disorder (MDD) afflicts about 15 million Americans and is the leading cause of disability in the U.S. for those aged 15-44, according to the National Institute of Mental Health. Although experiencing the blues is part of the human condition, MDD is more than just the sadness that accompanies misfortune. MDD is a chronic feeling of enervation, loss of interest in activities, pessimism and hopelessness. At one time regarded as caused by supernatural forces, today, modern medical science generally attributes depression to chemical imbalances in the brain. However, with its small-molecule benzylpiperazine-aminopyridine drug NSI-189, Neuralstem, Inc. (NASDAQ: CUR) has evolved a new approach to lifting the blues.
NSI-189 was developed as a result of the research, undertaken by Neuralstem, into neural stem cell lines from the human hippocampus. The hippocampus is a part of the brain involved in memory and the generation of new neurons. In a process referred to as neurogenesis, NSI-189 was shown to stimulate the generation of new neurons in vitro and in animal models. In phase Ib human clinical trials for MDD, NSI-189 demonstrated ‘clinically meaningful’ improvement across all depressive and cognitive measures.
This approach based on neurogenesis is a novel one. Current medications for depression generally attempt to modulate levels of different chemicals (neurotransmitters) in the brain. The most common type of such treatments is thought to be selective serotonin reuptake inhibitors (SSRIs).
In addition to the brain chemistry factors that cause depression, modern scholarship has uncovered a link between depression and the physiology of the brain. Those who suffer from chronic depression display reduced hippocampal volume. The healthy hippocampus, however, is a rich source of neural stem cells, from which new neurons are generated, making vital new connections throughout life. Neuralstem believes that stimulating the generation of new neurons in the hippocampus could potentially address the pathology of the depression itself.
Phase Ia trials, testing NSI-189 for use against MDD, kicked off in February 2011 and ended in October 2011. Healthy volunteers, unafflicted by depression, were tested with escalating single administration doses of NSI-189. Later, a similar trial was conducted for depression patients. In phase Ib, which commenced in June 2012 and ended in the fourth quarter of 2013, the safety of escalating doses of NSI-189 for 28 daily administrations in 24 patients suffering from MDD was tested.
At present, enrollment for a phase II trial has commenced. The trial, which is already 50 percent enrolled, is expected to yield top line results in the second half of 2017.
NSI-189 has had a colorful history. This feature in Bethesda magazine (http://dtn.fm/aRw8k) claims that NSI-189 stems from efforts by the Defense Advanced Research Projects Agency (DARPA), most famously home to the genesis of the internet, to cultivate ‘a “super soldier” who could stay awake and alert for a week at a time’. The contract was later cancelled and Neuralstem turned its attention to developing a remedy for the cell damage that can occur in the sleep-deprived hippocampus.
Neuralstem has the resources to expedite the clinical trial process. Through a recent agreement with the Tianjin Pharmaceutical Holding Group, the company has secured $20 million for completion of the phase II trial. This supplements the $11.1 million in cash on the balance sheet at the end of 2Q16.
In a report by Aegis Capital Corp. (http://dtn.fm/cZW0X), Neuralstem stock has been given a price target of $2.25. The share price on November 7 was $0.23. It seems that NSI-189 is lifting more than the blues.
For more information, visit www.neuralstem.com
Medical Transcription Billing, Corp. (MTBC) Announces Third Quarter Results
Before the opening bell, Medical Transcription Billing, Corp. (NASDAQ: MTBC; MTBCP) announced its financial and operational results for the third quarter of 2016, including a review of the October acquisition of MediGain, LLC and subsidiary Millennium Practice Management, LLC, which was the company’s largest acquisition to date. Notably, MTBC’s revenues for the three-month period were $5.3 million, up from $5.2 million in the previous quarter. The company also achieved its fourth consecutive quarter of positive adjusted EBITDA, reporting $130,000 for the third quarter and $209,000 year-to-date.
“We are pleased to announce another quarter of quarter-over-quarter revenue growth,” Mahmud Haq, chairman and chief executive officer of MTBC, stated in this morning’s news release. “Even though we continue to report a GAAP net loss, which is largely a result of non-cash amortization and depreciation expense, we are proud to report four consecutive quarters of positive adjusted EBITDA.”
Perhaps MTBC’s most significant achievement in the third quarter, the acquisition of Texas-based medical billing company MediGain, LLC, including substantially all of its assets and its subsidiary, positioned the company to build on its recent financial momentum moving forward. In total, the accounts in good standing acquired through this transaction have annual revenues in excess of $10 million. At a purchase price of just $7 million, the MediGain acquisition is expected to be accretive to MTBC shareholders in 2017, as incremental profits are expected to greatly exceed cost of capital. The acquisition also expanded MTBC’s global workforce, adding experienced team members in North America, as well as talented, cost-effective workforces in Asia.
“The successful closing of this transaction has positioned MTBC to experience exponential growth through access to new, untapped markets,” Haq continued. “In turn, we expect to expand our client base and deliver significant revenue growth in 2017.”
MTBC also reiterated plans for an upcoming offering of additional shares of its non-convertible Series A Preferred Stock in this morning’s update. The company is currently preparing to file a registration statement to sell 400,000 additional shares of its 11 percent Series A Cumulative Redeemable Perpetual Non-Convertible Preferred Stock at a price of $25 per share. If all of the shares are sold, the offering will generate roughly $9 million, of which $5 million will be used for the remaining payments related to the MediGain acquisition. This offering is not dilutive to shareholders and is expected to play a key role in positioning MTBC for forward growth.
Following this morning’s release, MTBC management hosted a conference call to discuss the results. An audio webcast of the call will be made available to the investment community on the company’s investor relations website at http://ir.mtbc.com.
For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
Anthony Noto to replace Adam Bain as Twitter COO
http://dtn.fm/yBcK3
Twitter has announced that chief operating officer (COO) Adam Bain is leaving the company to pursue other opportunities after serving for six years.
Chief financial officer Anthony Noto has been named as the new COO. Noto was appointed as the CFO in July 2014. In his new role, Noto will manage the live content business along with Twitter's revenue generating segments such as advertising sales, data, revenue product, MoPub, and the company's partnerships and business development.
"It has been a privilege and honor to work alongside Jack and the entire Twitter team to help build one of the world's most unique and powerful platforms that exists today," Bain said in a statement.
"The past six years have been incredible and I'm inspired by what Twitter has become and what it will be in the future. Anthony and I have worked side by side since he joined Twitter in July 2014 and I have full faith in what he and the teams will accomplish in the future," he added.
The teams responsible for the above mentioned business including Matt Derella, the company's vice president of Global Revenue and Operations, will report to Noto.
The company is also looking for a replacement for the CFO, who will continue in his role, until a suitable candidate is finalised.
"Since joining Twitter in 2010, Adam has built an amazing team and a global business from the ground up," said CEO Jack Dorsey, "I'm grateful to Adam for everything he's done for Twitter, and for his leadership and friendship over the years. I can't wait to see what he does next."
Twitter's announcement comes after recent reports suggested that the social media giant was planning to axe up to 300 jobs that might affect 8% of its workforce.
Bain revealed the news of his departure via a series of tweets.
Alder Biopharmaceuticals, Inc. (ALDR) Promises to Relieve Migraine Misery with Leading Drug Candidate ALD403
A research report (http://dtn.fm/w6uT3) issued earlier this week by Aegis Capital Corp. shows that Alder Biopharmaceuticals, Inc. (NASDAQ: ALDR) has lived up to its promise since 2004, when it received startup funding from the Army under the Small Business Technology Transfer (STTR) program. Since then the company has been working on the development of new production technologies for humanized antibodies. Now it is close to making the fruits of that research available for the treatment of migraine, inflammatory diseases and autoimmune diseases with its lead product candidate, ALD403. Results of ongoing clinical trials are quite promising.
Trials of ALD403 go by the acronym “Promise”, which stands for PRevention Of Migraine via Intravenous ALD403 Safety and Efficacy. These clinical trials are taking two paths: Promise 1 for the treatment of frequent episodic migraine (FEM) and Promise 2 for the treatment of chronic migraine (CM).
Phase I clinical trials of ALD403 kicked off in May 2012 for the treatment of migraine headaches. In March 2013, in what is now Promise 1, the first patients were dosed with ALD403 in phase II proof-of-concept clinical trials for the treatment of FEM. In October 2015, pivotal trials of ALD403 for FEM were commenced.
Following on from the initial studies on ALD403, phase IIb clinical trials were initiated in November 2014 for the treatment of CM (Promise 2). In March 2016, positive top line data was announced from the Promise 2 phase IIb study in patients with chronic migraine.
Now, Alder is moving ALD403 into phase III trials for both Promise 1 and Promise 2. For Promise 1, the pivotal trials are expected to report results in the first half of 2017, while results for Promise 2 should be ready about one year later, in the first half of 2018.
Migraine is a neurological disorder that is more prevalent than is commonly presumed. According to the Migraine Research Foundation (MRF), the condition affects about 38 million men, women and children, i.e. about 12 percent of the U.S. population. Worldwide, the illness is the third most prevalent and affects some one billion people. The condition is characterized by intense or throbbing pain in the head, commonly accompanied by nausea, vomiting and high sensitivity to light and sound. Over time, patients may be subject to an increasing frequency and severity of migraine attacks, potentially leading to significant disability. The MRF estimates that U.S. employers lose more than $13 billion each year as a result of 113 million lost work days due to migraine.
Currently approved medications for migraine include beta blockers (such as propranolol), topiramate, sodium valproate and botulinum toxin, or Botox. These generally lead to a range of side effects, including cognitive impairment, nausea, fatigue and sleep disturbance. As a result, only about 12 percent of adults with frequent episodic or chronic migraine take preventive medications, according to the U.S. Agency for Healthcare Research and Quality reports. Alder believes this creates a significant unmet medical need for new treatments with improved safety and efficacy that can either prevent migraines completely or reduce the frequency to a level where patients can find adequate relief from existing abortive medications.
For more information, visit www.alderbio.com
eXp World Holdings (EXPI) Brokerage Passes 2,000-Agent Mark as More Members Join Every Day
Likely the fastest growing cloud-based brokerage in the United States, eXp Realty recently announced that it has passed the 2,000-agent mark as more and more real estate professionals are choosing to join its ranks every day. A subsidiary of eXp World Holdings, Inc. (OTCQB: EXPI), eXp Realty announced that it expanded its agent base to more than 2,000 members in a Twitter post a few days ago.
The Agent-Owned Cloud Brokerage™ reported having a total of 2014 agents at the end of October, and since then, dozens of new members have joined. This makes it very likely that the company will reach and even surpass its target of having 2,200 agents by the end of the year. In addition to the individual real estate agents that joined the brokerage over the last few days, several realty firms have also entered its ranks. The most recent addition is Arkansas’s number two realty firm, Burch & Co. Real Estate, which transitioned its entire team of 17 brokers and agents to eXp Realty. Before them, the Agent-Owned Cloud Brokerage™ was joined by leading Baton Rouge, Louisiana, firm Darren James Real Estate Experts; one of the top realty teams in California – Sacramento’s Brent Gove Team; and South Texas’s top international luxury agent, Miguel Herrera.
This accelerated growth is largely due to the business model proposed by eXp Realty, a model that has been continuously pushing the brokerage further and acted as the driving force behind its continued growth and that of its parent company, EXPI. eXp Realty is, first of all, a brokerage of the future, embracing the latest technologies and virtual and augmented reality advancements to create a tight-knit community of real estate professionals covering 41 states, the District of Columbia and Alberta, Canada. Its use of virtual reality and cloud-based platforms reflects a growing trend in the real estate market that’s expected to reach new heights in 2017, according to the annual PwC report ‘Emerging Trends in Real Estate®’ (http://dtn.fm/dsuI9). The analysis puts emphasis on the increased quality of service that augmented reality can bring and notes that experts expect up to $2.6 billion in real estate VR/AR applications by 2025.
As a fully cloud-based brokerage, eXp Realty conducts all its operations through a virtual reality platform, from agent training to lead generation, leadership meetings, exchanges of ideas and experience, IT services and many more. In addition to helping agents and brokers stay connected 24/7 from the comfort of their own homes, this model also eliminates all the expenses traditionally associated with owning and running a brick-and-mortar office, so brokerage members are able to provide more efficient services to their consumers and increase their own profit without spending too much out of pocket. Another attractive feature of the eXp Realty model is that it gives its members the opportunity to become owners through lucrative revenue sharing programs and by enabling them to become shareholders in exchange for their contributions to the company’s growth and development.
For more information, visit the company’s website at www.eXpWorldHoldings.com
Net Element, Inc. (NETE) Staying Up-To-Date with Point-of-Sale Industry Trends
Every year, new predictions are published regarding the point-of-sale industry. Optimus Information published an article entitled “5 Point-of-Sale Industry Trends for 2016” (http://dtn.fm/6IyCq), which highlighted some predictions for the past year. These included the growth of cloud-based point-of-sale, people using more tablet point-of-sale systems, the strength of mobile point-of-sale, the ability for full integration with business analytics thanks to new point-of-sale systems, and the acceleration of e-pay and chip card payments.
This year saw an emergence of new cloud-based systems cutting down the use of expensive, proprietary, and hard-to-maintain hardware and software. This phenomenon has allowed merchants to cut out high up-front costs, software issues, and upgrade costs. Not only this, cloud-based point-of-sale systems have given business owners the chance to access their new systems more conveniently from their mobile devices.
However, it is not just the ease of use and lower costs that make cloud-based point-of-sale systems more popular. One of the most important reasons for the adoption of these new systems is the full integration with business analytics and decision processes. This means that data compiled about customers can be integrated with not only the financial side of the business but also business development and marketing functions within the organization.
Another predicted trend that has grown this year is the use of mobile point-of-sale. Mobile point-of-sale systems incorporate customer devices so that they can make a purchase decision on their device without going to a specific location. With this in mind, companies worldwide are adapting their point-of-sale systems to suit growing customer trends.
Net Element, Inc. (NASDAQ: NETE), a technology driven company that specializes in the emergence of mobile payments and value-added transactional payments, has stayed up-to-date with these emerging trends, allowing it to position itself for growth in the United States. The company’s key products include restaurant, retail, and mobile point-of-sale solutions; retail payment solutions; mobile transaction solutions; and reports and analytics.
The company wants to enable global commerce, driving transactions through all channels. NETE’s solutions are tailored to its clients in order for them to keep up with their customers’ needs. Services they offer include mobile payments, marketing solutions, and business analytics.
For more information, visit www.NetElement.com
FTE Network (FTNW) – A Unique Opportunity for Explosive Growth
The expansion in data usage and communications has continued to inflate beyond all predictions, with networks rapidly being pushed far beyond originally anticipated requirements. The unparalleled growth is expected to continue as developing technologies challenge existing capabilities, creating an unprecedented demand for improved network infrastructures and associated services.
Florida-based FTE Networks (OTCQX: FTNW) has grown to become a leading global provider of network infrastructure solutions, designing, building, and supporting networking infrastructures for major companies and government organizations in the U.S. and Europe. The company’s telecommunications and technology focused client base faces increased calls for expanding network capacity to satisfy the demands of their own customers for high-volume high-quality content at all levels. FTE’s must-meet goal is to provide the best in fast and reliable voice, data, and digital content delivery, all while living within critical cost limits. The only way to do this is by understanding the whole picture, offering integrated services and technologies in a flexible way that covers all aspects of telecommunication operation, including:
Data Center Infrastructure
Infrastructure Design
Deployment
Testing And Commissioning
Rack, Stack, Power
Cold Aisle Containment And Efficiency Programs
Maintenance
Integration
MDU Design & Deploy
AC/DC Power Plants
Fiber Optics
Row And Network Engineering
Large Scale Deployment
PMO
FTTX Solutions
Underground/Aerial
Deployment
Splicing & Testing
Fiber Characterization
Emergency Restoration
Maintenance
Wireless Integration
Engineering
Deployment
Maintenance
DAS Installations
RF Installations
Site Surveys, Acquisition & Zoning
Audits
Fiber Backhaul Solutions
Full Suite Of Testing
Solutions
Decommissioning
Surveillance & Security
Infrastructure Design
Deployment
Maintenance
Video Surveillance Design And Installation
Wi-Fi Installation
Storage Back-Up Solutions
Access Control
Through the leveraging of advanced technologies in creative ways, FTE has developed a remarkably flexible approach for addressing telecommunication challenges, providing a number of benefits to customers, as reflected in the company’s recent financial performance. FTE’s Q2 2016 financials show a 51% quarter over quarter revenue growth, along with improved margins. The company’s pipeline now totals approximately $166 million in annualized revenue, representing organic growth and a diversified customer base.
FTE Networks has just announced that SeeThruEquity, an independent equity research and corporate access firm, has initiated coverage on the company (available to members at www.SeeThruEquity.com/ftnw).
For additional information, visit the company site at www.FTENet.com, and its Investor Presentation at http://dtn.fm/Tg3oi.
Medical Transcription Billing, Corp. (MTBC) Goes HITECH with ChartScribe
Snuggled away under Title IV of the American Recovery and Reinvestment Act of 2009, Congress’ response to the Great Recession was the Health Information Technology for Economic and Clinical Health (HITECH) Act. Among other things, the HITECH Act provided incentives for providers of medical services to adopt electronic health records (EHR) through ‘Meaningful Use’ (MU). Although primarily aimed at stimulating economic activity and creating jobs, the framers of the law hoped that the application of information technology to the provision of medical services would improve healthcare. Medical Transcription Billing, Corp. (NASDAQ: MTBC) (NASDAQ: MTBCP), through its integrated digital transcription and patient charting services, is showing how that can be done.
MTBC’s charting services are designed to help physicians generate accurate, timely patient charts and better manage their time. Providers can conveniently send in digital audio dictations, and MTBC transcribes complete patient charts directly to their EHR portal. A patient chart is a complete record of a patient’s key clinical data and medical history that includes demographics, vital signs, diagnoses, medications, treatment plans, progress notes, problems, immunization dates, allergies, radiology images, and laboratory and test results. With MTBC’s charting services, doctors, physician assistants and other medical professionals can have their audio patient progress notes transcribed and the information entered into the appropriate EHR.
The integrated charting services are a core part of MTBC’s proprietary EHR, ChartsPro, the adoption of which will not only make delivery of service more efficient, but allow practitioners to reach ‘Meaningful use’ standards. ‘Meaningful Use’, under the HITECH Act, is the use of certified EHR technology, like ChartsPro, to improve the quality and safety of healthcare. MU sets objectives that providers must meet in order to qualify for the Medicare, Medicaid, Children’s Health Insurance, and Health Insurance Marketplace programs administered by the Centers for Medicare & Medicaid Services (CMS).
MU objectives were set to roll out in three stages. The first stage had an implementation deadline of year-end 2012 and involved procedures and technology to capture data and share it. It was expected that, by that time, 80 percent of patients would have records that employed a certified EHR technology. In August 2016, a survey conducted by Medscape (http://dtn.fm/YR1ua), a free online resource for physicians and health professionals, found that 91 percent were currently using an EHR system but that, at the end of 2012, just 74 percent were.
Stage two, with an implementation deadline of year-end 2014, had two core objectives. Firstly, eligible professionals were being encouraged to text patients by using ‘secure electronic messaging to communicate with patients on relevant health information’; and, secondly, hospitals must ‘automatically track medications from order to administration using assistive technologies in conjunction with an Electronic Medication Administration Record (eMAR)’.
MTBC’s digital transcription and patient charting services are fully compliant with MU standards, and a new menu set objective in MU stage two is included. This allows progress notes to be created, edited and signed by the practitioner. Objectives and measures for Stage three include increased thresholds, advanced use of health information exchange functionality, and an overall focus on continuous quality improvement.
Curating patient data is important to the advance of medical science, but a doctor burdened by data collection is one with less time for patients. With the overload of documentation and clerical responsibilities brought on by EHR, having an integrated charting service such as that offered by MTBC is essential.
For more information, visit www.mtbc.com, and see the company’s fact sheet at http://ir.mtbc.com/events.cfm.
Moxian, Inc. (MOXC) – Facilitating Stronger Customer Relationships
Keeping and cultivating satisfied customers is clearly a critical aspect of any company’s success. Building and maintaining strong customer relationships is key, requiring businesses to not only stay in touch with customers, but also to effectively deal with any customer service issues. The most successful businesses have been known to build the most impressive records of customer service, a growing emphasis in the competitive marketplace.
Building a strong relationship with customers is not just an inspiring sign on a wall, it takes serious time and dedication. According to Fox Business (http://dtn.fm/EI3Ai), the most important aspects of building better customer relationships for a business include making every customer interaction count, establishing connections, listening to customers, rewarding loyalty, and efficiently training employees. It is also important for businesses to stay up-to-date with the growing tech needs and opportunities.
Social media continues to develop and change, allowing businesses to interact more easily with consumers and to understand what they want or could use. It is an important tool for anticipating future customer needs and solving consumer issues. Businesses, especially small businesses, are looking to creative outside marketing services to better interact with their consumers. Moxian, Inc. (OTCQB: MOXC) offers exactly such services and more. MOXC is in the business of providing social marketing and promotion platforms that help businesses advertise and communicate via social media. The company’s services are designed to help merchants enhance their interaction with potential customers and/or buyers.
MOXC has its own platform called Moxian+User. The application consists of a proprietary virtual currency, social networking, redemption center, and game center. The company also offers the Moxian+Business application, helping merchants engage with customers, transforming them into members, and allowing them to communicate with customers when it counts.
These two platforms allow businesses to increase repeat sales by building a mobile presence, constantly updating consumers with new products, stories, news, and other information. In addition, the business application allows employees to market the business and address customer service issues while on the move.
For more information, visit the company’s website at www.Moxian.com
Net Element, Inc. (NETE) Announces Launch of Unified Payments Gift Card Application
Before the opening bell, Net Element, Inc. (NASDAQ: NETE) announced the launch of its proprietary gift card application for smart payment terminals. The United Payments gift card application, which made its initial debut last month at the Money 2020 event in Las Vegas, offers small and medium-sized businesses an intuitive way to provide a full suite of gift card-related services to customers, including issuance of new cards, adding value to cards, transferring value between cards, accepting payments using gift cards and checking card balance.
Building on Net Element’s existing omni-channel gift and loyalty platform, the Unified Payments gift card application is fully integrated with “terminal” and “register” applications marketed by leading merchant services provider Poynt. It can also be integrated with any other payment acceptance application developed using Poynt’s payment framework.
“We are pleased to introduce this new software application for smart payment terminals just in time for the 2016 holiday season,” Oleg Firer, chief executive officer of Net Element, stated in this morning’s news release. “In less than a month, and in close cooperation with our partners, our software engineers were able to successfully design, program and test the application on Poynt’s smart payment terminal… Our Unified Payment gift card application is available to all sales partners and merchants nationwide.”
Net Element’s newest application offers numerous benefits for employees, merchants and customers. The application’s intuitive interface can be implemented without any additional training for cashiers, and management has the means to oversee all gift card transactions through Poynt’s smart payment terminal large screen display and online through Net Element’s SalesCentral reporting system. For merchants, the Unified Payments gift card program offers a flexible method to securely increase cash flow by boosting brand awareness while promoting sales and encouraging impulse purchasing.
Just last year, a report by a contributor to CreditCards.com published by Nasdaq (http://dtn.fm/tkTT1) highlighted the widespread popularity of gift cards and other prepaid debit cards. According to the report, the number of payments made with prepaid cards rose 18.5 percent annually from 2006 to 2012, marking the fastest growth rate of all types of payments during that timeframe. Net Element’s decision to launch the Unified Payments gift card application ahead of the holiday season could also prove to be extremely prudent. According to the National Retail Federation, gift cards were the most requested holiday gift item in 2015 for the ninth consecutive year, and all signs point toward a continuation of this trend in 2016.
For more information, visit www.NetElement.com
Aerie Pharmaceuticals (AERI) Eyeing Innovative Glaucoma and Ocular Hypertension Therapies
Aerie Pharmaceuticals. Inc. (NASDAQ: AERI) is a publicly traded clinical stage pharmaceutical company focusing on the discovery of innovative treatments for glaucoma and other eye ailments. Its leading product candidates, Rhopressa™ and Roclatan™, are believed to be effective for most glaucoma patients, based on clinical trials results, and are currently in different stages of development in view of commercialization.
It is estimated that glaucoma patients make up the largest segment of the worldwide ophthalmic market, with glaucoma products and therapies exceeding $4.7 billion in global sales. According to National Eye Institute statistics, there are more than 2.7 million glaucoma patients in the United States at the moment. That number is expected to rise to 4.3 million by 2030.
Aerie Pharmaceuticals’ products are both designed to target glaucoma and lower intraocular pressure specifically. Developed in the form of eye drops administered once a day, both treatments have had very good results and tolerance rates during clinical trials, being designed as the first innovative ocular hypertension lowering mechanisms in more than 20 years.
The company completed its second phase 3 registration trial for lead product candidate Rhopressa™ in September 2015 and is now scheduled to file an NDA for the treatment in January 2017. The NDA filing was initially set for the third quarter of 2016, but it was pushed back to January because of an issue related to the third-party manufacturing site, according to a company press release (http://dtn.fm/6ng3R). Although not necessary for the filing, two more phase 3 clinical trials are being conducted for Rhopressa™ (netarsudil ophthalmic solution), this time focusing on the treatment’s safety. All trials so far indicated that the therapy has a consistent IOP lowering effect for the duration of treatment. Aerie also plans to further explore the positive attributes of Rhopressa™, as test results so far indicated a potential synergistic effect with prostaglandin analogues and possibly neuroprotective features.
Roclatan™ (netalsudil/latanoprost) is currently undergoing phase 3 registration trials, which commenced in September last year. The therapy is a fixed dose combination of Rhopressa™ and latanoprost, an approved glaucoma IOP treatment, and all clinical trials so far have indicated its superior efficacy over its components when taken independently. A second phase 3 trial began in March 20016, while a third one, aimed for European approval, is scheduled for the first half of 2016. If the current phase 3 trials are successful, Aerie intends on filing an NDA for this product in the second half of 2017. Based on the results reported so far, Roclatan™ has the potential of being the most efficient glaucoma and ocular hypertension treatment on the market up to this point.
In addition to these two primary product candidates, the company is also exploring Rhopressa’s possible long-term impact on diseases trabecular meshwork and conducting pre-clinical trials for AR-13154, a small molecule with demonstrated effects in reducing the size of lesions associated with age-related macular degeneration.
Financially, the company last week released its revenue report for the third quarter of 2016, which was described as ‘uneventful’ by an Aegis Capital Corp. analysis (http://dtn.fm/9j0Ow). Aerie ended Q3 with more than $255 million in cash and investments and slightly higher operating expenses, but still within the company’s expected range of $75-$85 million for 2016. The Aegis analysis reiterates a ‘Buy’ rating for the company, and a pricing target of $63, compared to the current $33.60 (on November 3 when the report was released). The report also underlines that the company’s financial performance has little impact on share prices, but rather clinical development success and regulatory approvals are more important.
For more information, visit the company’s website at www.aeriepharma.com
New OTCQX Best Market Initiatives Make Going and Being Public Less Painful
Recently disclosed developments to the OTCQX Best Market platform are likely to reduce the pain of going and being public for both domestic and foreign companies. In a note to clients, Jason Paltrowitz, Executive VP of Corporate Services at OTC Markets Group, outlined the enhancements, which include access by companies to globally recognized quantitative research coverage, a tightening of eligibility requirements, reduced compliance costs, increased transparency by making compliance status available to broker-dealers, and new promotional tools for companies to reach investors.
OTC Markets Group will work with Morningstar®, a leading provider of independent investment research, to provide OTCQX companies with quantitative equity ratings and research reports. To companies not covered by analysts, Morningstar will provide statistically derived quantitative metrics that mimic ratings by its analysts. The service will allow OTCQX companies to provide investors with an independent view of their performance, and investors will be better able to benchmark a company relative to its sector.
To supplement this effort, the “Research Marketplace”, a joint project with three global equity research firms, was launched in September. This online resource, undertaken with ACF Equity Research, Edison and Sidoti & Company, LLC, will provide OTCQX companies with independent research analyses and investment tools.
The bar to listing on the OTCQX has been raised. Penny stocks, shell companies and blank-check companies have been eliminated. The minimum bid price and market cap standards have been increased. An initial bid price of $0.25 and market cap of $10 million will be required for listing, while a minimum ongoing bid of $0.10 and $5 million valuation has to be maintained.
Corporate governance standards are following best practice. The board of an OTCQX company must include at least two independent directors, have an audit committee with a majority of independent directors and, at least 15 days prior to a mandatory AGM, circulate to shareholders an annual financial report.
It appears that the requirement for an OTCQX Advisor will be abolished, although the rubric to ‘submit an initial and annual OTCQX Advisor Letter’ still appears under Eligibility Standards on the OTC Markets Group website. In his note, Mr. Paltrowitz promised that the OTC compliance team would carry out the ‘ongoing company verification process – without the extra burden and expense of the OTCQX Advisor role and annual letter.’
The OTC Compliance Data File, now accessible to broker-dealers, provides important data points on 10,000 OTCQX and other global securities. This simplifies the process of identifying securities that are compliant under the SEC Penny Stock Rule and FINRA’s OTC Recommendation rule. Information in the Compliance Data File includes reporting status, shell status, audited financials status, number of market participants quoting, bankruptcy status and recent split data.
In October, a new transfer agent program designed to improve the transparency of share information was started. Under the program, SEC-registered stock transfer agents will be able to report their clients’ share data, including authorized and outstanding shares, to OTC Markets Group on a regular basis via a secure, electronic file transfer.
The requirement to be included in a Recognized Securities Manual in order to qualify for Blue Sky Manual Exemption has been abolished from the OTCQX Rules. In addition, OTC Markets Group is asking the federal government to allow OTCQX securities to be designated “covered securities”, which would make them exempt from separate state blue-sky law registration and exemption requirements. At present, 12 states have recognized the OTCQX as a securities manual for purposes of their “blue-sky manual exemption.”
Finally, the size and scope of the OTCQX Virtual Investor Conferences, CEO Interviews and Community Spotlight have been expanded, reaching over 30,000 investors to date. These initiatives are an alternative to the traditional company road show and allow more companies to tell their story to their investor community.
With these enhancements, OTC Markets Group may be driving the final nail in the coffin of FINRA’s OTCBB.
Soligenix, Inc. (SNGX) Late-Stage Biopharma with Bedrock Funding Primed for Commercial Success, Ready to Uplist to NASDAQ
For a late-stage rare diseases focused boipharma innovator like Soligenix (OTCQB: SNGX), with up to $58 million of support for its Vaccines/BioDefense segment coming directly from NIAID contract funding (National Institute of Allergy and Infectious Diseases, a division of the NIH), recent news about the success of its BioTherapeutics segment is propitiously timed, amid the company’s move to uplist to NASDAQ. The company enthusiastically executed a 1:10 reverse split early last month (http://dtn.fm/mtiM2) in preparation for the uplisting, confident that the diligent advancement of its rare diseases pipeline over the preceding years has positioned Soligenix for commercial success, with multiple Phase 2b/3 clinical programs now ready to bear fruit.
A clear 50 percent reduction in the median duration of severe oral mucositis across the board (and a noteworthy 67 percent reduction in the most severely affected) in Phase 2 clinical testing (http://dtn.fm/A7huK) on head and neck cancer patients receiving chemoradiation firmly reinforces the potential of the company’s proprietary innate defense regulator (IDR) technology, upon which Soligenix’s SGX942 (http://dtn.fm/m8wGr) (containing dusquetide) is based. Oral mucositis (breakdown and atrophy of the mouth’s mucosal lining) is one of the common problems associated with chemotherapy (as well as radiation therapy or life-threatening bacterial infections), and it represents a significant unmet medical need for which there are no currently approved therapies. Such excellent efficacy results for the Phase 2 clinical trial of SGX942 gives the company a very strong BioTherapeutics candidate to go along with its novel SGX301 (http://dtn.fm/ZavH7) topical photodynamic therapy for cutaneous T-cell lymphoma (CTCL), and SGX203 (http://dtn.fm/NCc6y) oral formulation of BDP (beclomethasone dipropionate) corticosteroid for low-toxicity treatment of Pediatric Crohn’s Disease (gastrointestinal inflammation) – both of which have received FDA Orphan Drug and Fast Track designations.
SGX942’s dusquetide formulation is a first-in-class IDR (short, fully-synthetic peptides) and this Phase 2 clinical trial data provides substantial evidence about the broad-spectrum applicability of IDR technology in other areas, like the one where it was first discovered: infectious disease. Senior VP and CMO for Soligenix, Richard Straube, MD, seemed quite proud of the SGX942 program’s success, explaining that not only does the Phase 2 data validate the same unique biology of IDRs in humans that was observed in previous animal model studies, it also serves as a positive proof of concept for expansion of the IDR platform into other indications, such as infectious disease.
Furthermore, the Phase 2 clinical trial (multi-center, double-blind, placebo-controlled) data on SGX942 reinforces a pivotal concept about IDR technology’s novel mechanism of action and how it enables an extremely promising therapeutic approach vector for a host of diseases. Because IDRs are able to directly interact with a key protein (p62, or sequestosome-1) that helps regulate natural, selective cell degradation, and thus enhance the body’s own immunological tissue-healing and anti-infective capabilities – the technology is increasingly seen by many as a sort of molecular end-run.
Able to act downstream of innate immune receptors, yet upstream from cytokine and chemokine effectors, this implementation of IDR technology is based on modulating the body’s own reaction to injury/infection, and has been shown to also delimit the inflammation associated with tissue damage. Heading off inflammation at the pass by directly interacting at the key intracellular integration point is a bold approach, and a 16 percent higher complete response (tumor completely gone) at the one-month follow up for SGX942 is nothing to sneeze at.
With a strong worldwide IP position on dusquetide and related analogs, as well as Fast Track designation from the FDA for SGX942 and solid Phase 1 safety/tolerability results under its belt, the future looks bright for Soligenix’s newest rising BioTherapeutics star. Perhaps more importantly, this further validation of the potential of the IDR technology opens the door to a broad array of targets for Soligenix, ranging from antibiotic resistant/emerging infectious diseases, to GI tract inflammation. A recent report by BCC Research puts the global market for infectious disease pharmaceuticals and vaccines at around $103.5 billion as of last year, with a roughly 7.7 percent forward CAGR through 2021, when it is anticipated that the combined value of both types will be around $212 billion.
Having secured SME status with the EMA (European Medicines Agency) (http://dtn.fm/f9uO9) as of Oct 25, earlier projections about Soligenix by analysts such as Zack’s and Aegis Capital now appear to be unmistakably materializing. EMA logistical support will go a long ways toward taking SGX942 through Phase 3, and Soligenix is now auspiciously knocking on the global pharmaceutical market’s door.
Even without really going into the company’s revolutionary thermostabilization (heat stabilization) technology ThermoVax® (http://dtn.fm/HD49d), which could eliminate cold-chain production/refrigeration and give (Alum adjuvanted) vaccines long shelf lives at even higher than normal temperatures – the attractiveness of its Vaccines/BioDefense segment should leap out at investors. By working hand-in-hand with NIAID to proactively muster force against high priority bioterrorism and emerging disease fronts, via technology platforms and specific products that are able to address the institute’s primary concerns, Soligenix has positioned itself perfectly from a developmental standpoint.
As President & CEO, Chris Schaber explained in a CEO Clips broadcast on BTV-Business Television (http://dtn.fm/eC2Pg), Soligenix has been able to brilliantly leverage its government funding in order to better manage the very cash-intensive BioTherapeutics development which has now set the company up for long-term commercial success. Soligenix’s proprietary vaccine RiVax™ (Ricin Toxin Vaccine) (http://dtn.fm/F9bYC) has been developed through a series of competitive challenge grants and the company has even demonstrated a one year stability of RiVax at prolonged elevated temperatures (104 Fahrenheit) utilizing ThermoVax technology. Properties which made Soligenix’s ThermoVax technology an ideal choice for Hawaii Biotech, Inc. when it came to dry stabilizing the key antigen for their Ebola vaccine (http://dtn.fm/5sFkv). A distinct advantage over competing Ebola vaccines, which allows the vaccine to be deployed to and easily shipped/stored within precisely those high temperature regions where Filoviruses are endemic.
Soligenix’s OrbeShield® formulation of BDP for GI-ARS (Gastrointestinal Acute Radiation Syndrome) shares considerable technical overlap with the company’s SGX203 formulation for Pediatric Crohn’s Disease, and the same deep understanding of inflammation and tissue damage is apparent in the company’s SGX201 BioTherpaeutic, designed to prevent acute radiation enteritis (inflammatory bowel syndrome resulting from radiation therapy). This kind of inflammation mastery should really inform investors about the core IP valuation of Soligenix, and even if the company’s Vaccines/BioDefense division weren’t heavily government funded, it would still be an exciting commercial biopharma play on the basis of its highly novel BioTherapeutics offerings.
It would be wise to take a closer look at the company’s first-in-class photodynamic therapy for CTCL, as well as its dusquetide IDR SGX943 (http://dtn.fm/0hAiX), designed to combat even gram-negative bacteria such as the one which causes antibiotic-resistant and potentially fatal Melioidosis infection, in order to get a better sense of just how big the end market potential is for Soligenix’s tech envelope. Soligenix’s IP position is likely the real story behind the story, and it will be very interesting to see what enhanced exposure via the NASDAQ uplifting will do.
For more information, visit www.Solgenix.com