AUS
NZ
UK
CA
USA
IND
.jpg)
Summary
- Stocks of Exela Technologies, OncoSec Medical and Opiant Pharmaceuticals jumped more than 20 percent.
- Exela Technologies said its cash position has significantly improved following the US$150 million at-the-market equity program.
- OncoSec Medical is collaborating with Merck on a clinical trial of anti-cancer gene therapy.
- Opiant Pharmaceuticals announced positive results of intranasal nalmefene study for opioid overdose.
Stocks of Exela Technologies (NASDAQ:XELA), OncoSec Medical Incorporated (NASDAQ:ONCS) and Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT) jumped more than 20 percent on Wednesday’s trading.
Exela stock gained following the company’s update on its cash position, while OncoSec Medical shares surged after the company announced a collaboration with Merck & Co. (NYSE: MRK). Meanwhile, Opiant Pharmaceuticals stock rallied on positive data from its intranasal nalmefene study for opioid overdose.
Exela Technologies (NASDAQ:XELA)
On Wednesday, the business process automation services company said its cash position has significantly improved following the US$85 million proceeds from its US$150 million at-the-market equity program.
The company plans will the proceeds to cut debt by US$25 million. At the end of June, the company had US$205 million of cash and cash equivalents on hand, as well as US$75 million of additional borrowing capacity under credit facilities.
Exela noted that it does not expect to access the additional borrowing capacity because of the increased liquidity.
The Texas-based company’s market cap totals US$158.6 million. The stock, which returned 164 percent year to date, has a 52-week trading range of 99 cents to US$7.82.
Exela’s stock closed at US$3.29 on Wednesday, up 22.76 percent.
READ MORE: OSAT & DARE: 2 trending stocks under $10
OncoSec Medical Incorporated (NASDAQ:ONCS)
OncoSec Medical said it has teamed up with pharmaceutical giant Merck to evaluate the overall survival of metastatic melanoma patients treated with the combination of its anti-cancer gene therapy TAVO and Merck's anti-PD-1 therapy KEYTRUDA.
Recently, the company appointed its former COO Brian Leuthner as its interim chief executive after Daniel O'Connor resigned from the role.
OncoSec Medical has a market capitalization of US$109.3 million. Its stock, which declined 47 percent this year, traded between US$1.89 and US$8.16 in the last 52 weeks.
On Wednesday, OncoSec Medical stock closed at US$3.4, up 21.86 percent.
READ MORE: Newegg Commerce stock (NEGG) doubles on PC assembly service
Source: Pixabay
READ MORE: Intellia (NTLA) stock rally can chart a new path for CRISPR stocks
Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT)
The California-based pharmaceutical company announced positive top-line results from the study of nalmefene hydrochloride nasal spray for opioid overdose.
Opiant said according to the top-line data 3mg of nalmefene spray showed rapid absorption and higher plasma concentrations compared to 1mg of nalmefene intramuscular injection.
The company expects top-line data to be available in the fourth quarter of this year.
Opiant has a market capitalization of US$57.5 million. Its stock gained 100 percent year to date. During the 52-week period, the stock traded in the range of US$6.79 to US$19.90.
The shares ended Wednesday’s trading at US$16.12, up 21.61 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.
