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Highlights
- Marker (MRKR) stocks rise after the company receives grants for clinical trials.
- Lordstown Motors Corp (Nasdaq:RIDE) stocks climb after EV truck demonstration.
- Progenity, Inc (Nasdaq:PROG) shares fall 54.13 percent at 10.51 am ET.
Stocks of Marker Therapeutics, Inc (Nasdaq:MRKR) and Lordstown Motors Corp (Nasdaq:RIDE) rose after the former revealed receiving grants for cancer research, and the latter demonstrated the capabilities of its new electric truck.
On the other hand, Progenity, Inc (Nasdaq:PROG) stocks tumbled a day after the biotech firm announced the pricing for its underwritten public offer of 40,000,000 shares of common stock.
Here we explore the recent developments of these stocks that may have drawn investors’ focus.
Marker Therapeutics, Inc
The Marker stock surged 10.71 percent to US$1.8582 at 9.40 am ET on August 20, a day after it received grants for its research for a cancer drug. Cancer Prevention and Research Institute of Texas (CPRIT) awarded US$13.1 million to MRKR for a phase 2 clinical trial of MultiTAA-specific T cell product MT-401 for treatment of malignancies and solid tumors.
Its market capitalization is US$139 million. The forward P/E one year is -3, and the EPS is US$-0.63. The 52-week highest and the lowest stock price of MRKR was US$3.77 and US$1.32. The stock gained 15.86 percent YTD.
The biotechnology company spent US$3.56 million for general administration expenses in Q2 this year. Its research and development expenses were US$7.5 million. As a result, it reported a net loss of US$10.91 million against US$6.34 million in Q2 the previous year.
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Source: Pixabay.
Lordstown Motors Corp.
The stock went up by 5.87 percent to US$5.045 at 9.54 am ET on August 20. The company had recently demonstrated the capabilities of its new electric truck Lordstown Endurance at a conference of airport executives. It was the only electric vehicle picked up for the show.
Its market cap is US$877 million, the forward P/E one year is -1.97, and the 52-week highest and the lowest stock price was US$31.80 and US$4.77. The stock declined 74.78 percent YTD. The auto and truck manufacturing company reported a net loss of US$108.20 million in Q2 this year.
Progenity, Inc
The stock nosedived 54.13 percent to US$0.6833 at 10.51 am ET on August 20, a day after the biotech firm set the price of US$1 for the underwritten public offering of 40,000,000 shares of common stock and warrants to purchase up to 40,000,000 shares of its common stock.
The stock was down 86.93 percent YTD. Its market cap is US$53 million, the forward P/E one year is -0.65, and the EPS is US$-4.33. Its 52-week highest and the lowest stock price was US$9.75 and US$1.47.
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The total profit of the medical equipment company in Q2 this year was US$0.46 million compared to US$17.27 million in Q2 last year.
The gross profit was US$0.46 million against US$4.57 million in Q2 the previous year. Its net loss was US$78.53 million compared to the loss of US$52.78 million in Q2 the previous year.
Bottomline
The healthcare and EV sectors are expected to see growth with increased demand and government focus on infrastructure in the coming quarters. In addition, the Biden administration has vowed to beef up public investments in these sectors.
