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Recap Of Friday’s Biotech Catalysts – End Of the Day Summary

The U.S. Food and Drug Administration (FDA) has approved expanded use of Vertex’s (NASDAQ:VRTX) lead asset ORKAMBI (lumacaftor/ivacaftor) to…
byRagothaman Srinivasan
September 2, 2022
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  • The U.S. Food and Drug Administration (FDA) has approved expanded use of Vertex’s (NASDAQ:VRTX) lead asset ORKAMBI (lumacaftor/ivacaftor) to include children with cystic fibrosis (CF) ages 12 to <24 months. Vertex shares traded in a range of $279.5 to $292 on day volume of 1.12 million shares, closed regular trading session at $281.04.
  • PolyPid (NASDAQ:PYPD) announced top-line results from the SHIELD I Phase 3 study of D-PLEX100 for the prevention of surgical site infections (SSIs) in abdominal surgery. The study did not achieve its Primary Endpoint of reduction in surgical site infections and mortality. PolyPid shares traded as low as 68.83 percent, in a range of $1.12 to $1.68 on day volume of 6.43 million shares versus three months average volume of 21.5 thousand shares, closed regular trading session at $1.43. The company shares traded at $1.36, down 4.9 percent in the after-hours trading session.
  • The Swiss Agency for Therapeutic Products (Swissmedic) has expanded its temporary authorization of Novavax’s (NASDAQ:NVAX) lead drug  Nuvaxovid (NVX-CoV2373) COVID-19 vaccine in Switzerland for active immunization to prevent COVID-19 caused by SARS-CoV-2 in adolescents aged 12 through 17 and as a heterologous and homologous booster dose for adults aged 18 and older. Novavax shares traded as high as 1.22 percent, in a range of $30.33 to $32.34 on day volume of 3.61 million shares, closed regular trading session at $30.39.
  • Immuneering (NASDAQ:IMRX) submitted an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) for its product candidate IMM-1-104 in development for the treatment of advanced RAS mutant solid tumors. Immuneering  shares traded as high as 7.05 percent, in a range of $6.56 to $7.44 on day volume of 27.47 thousand shares, closed regular trading session at $7.44.
 
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IM Cannabis’ Q4 Revenue: Gross Profit Drops Due To Negative Impact Of Israel-Hamas War, Sees Germany As Growth Opportunity

By Jelena Martinovic
March 28, 11:19 AM
IM Cannabis Corp. (NASDAQ: IMCC) (CSE: IMCC) announced on Thursday its financial and operational results for the year ended Dec. 2023. The Toronto-headquartered medical cannabis company with a focus on Israel and Germany reported a 10% year-over-year decrease in revenue to CA$48.8 million ($36 million) in 2023. IM Cannabis attributed it to "negative currency fluctuations and the impact of the Israel-Hamas war on the company's operations." Fourth quarter revenue dropped 26% year-over-year to CA$10.7 million. "As previously warned and as expected, unfortunately, the Israel-Hamas war had a negative impact on our fourth quarter 2023 results, which weighed on our full-year results.," Uri Birenberg, chief financial officer of IMC, said. "Coupled with our fourth quarter of 2023 inventory reduction, the war caused our fourth quarter gross profit to decrease by 68% as compared to the fourth quarter of 2022."

CSE:IMCC