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Summary
- Orbsat (OSAT) stock hit a new 52-week high on Tuesday’s trading, while Daré (DARE) stock popped over 56 percent on Wednesday morning.
- Orbat recently raised over US$14 million in an underwritten public offering.
- Biopharmaceutical company Daré received a grant of US$48.9 million from Bill & Melinda Gates Foundation.
Satellite communication services company Orbsat Corp. (NASDAQ:OSAT) and Daré Bioscience, Inc. (NASDAQ:DARE) are among the two trending stocks under US$10.
Orbsat stock rallied to set a new 52-week high on Tuesday’s trading while Daré popped over 57 percent when the market opened on Wednesday.
Orbsat’s current market cap is around US$43.3 million. Its stock rose over 200 percent year-to-date. In 52 weeks, the stock price ranged from US$1.90 to US$10.80.
Daré commands US$75 million market cap. The stock returned 54 percent this year with the share price swinging between US$1.90 and US$10.80 in the 52-week period.
Orbsat Corp. (NASDAQ:OSAT)
Florida-based company Orbsat provides voice, data, personnel and asset tracking services through satellite. It generates revenues primarily by selling satellite phones, locator beacons, GPS trackers, terminals and recurring airtime plans.
It operates in the US through its subsidiary Orbital Satcom Corp. and in Europe through Global Telesat Communications Ltd.
In the first quarter ended March 31, 2021, Orbsat saw its revenue decline slightly to US$1,461,428 from US$1,468,103 in the year-ago period. Sales at Global Telesat Communications increased 6.3 percent, but sales at Orbital Satcom fell 12.9 percent.
Orbsat reported a net loss of US$803,142 for the latest quarter, compared with US$284,860 in the first quarter of 2020.
Recently, the company raised more than US$14 million in an underwritten public offering of 2.88 million shares at a price of US$5 apiece.
The stock ended Tuesday’s trading at US$8.40, up 54.41 percent. As of 9:47 am ET on Wednesday, Orbsat shares were trading at US$7.91, down 5.83 percent.
Source: Pixabay
Daré Bioscience, Inc. (NASDAQ:DARE)
Daré is a California-based clinical-stage biopharmaceutical company. Its products in clinical development include contraceptive Ovaprene and Sildenafil Cream to treat female sexual arousal disorder. DARE-BV1 candidate targets to treat bacterial vaginosis while DARE-HRT1 candidate is a treatment of vasomotor symptoms and genitourinary syndrome related to menopause.
On Wednesday, Daré said it received a grant of US$48.9 million from the Bill & Melinda Gates Foundation for the development of investigational reversible contraceptive DARE-LARC1.
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In the first quarter, Daré reported a US$7.3 million in comprehensive loss, compared with a US$4.3 million loss in the year-ago quarter. Expenses for research and development more than doubled to US$5.7 million during the quarter from US$2.4 million.
As of 9:33 am ET on Wednesday, Daré stock was trading at US$2.39, up 57.25 percent.
Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
