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Highlights
- Trillium Therapeutics Inc. (NASDAQ:TRIL) stock was up 188.83% after Pfizer announced plans to acquire the company.
- Vivos Therapeutics, Inc. (NASDAQ:VVOS) stock jumped 53.65% after FDA’s 501(k) market clearance.
- Trillium remained in the green while Vivos moved to the red zone in the aftermarket session.
Stocks of Trillium Therapeutics Inc. (NASDAQ:TRIL) and Vivos Therapeutics, Inc. (NASDAQ:VVOS) jumped up 188% and 53%, respectively, on Monday after the former’s purchase talks with Pfizer came to light, and the latter received a 501(k)-market clearance from FDA.
Trillium stock closed at US$17.59, up 188.83%, while Vivos Therapeutics, Inc. closed at US$5.90, up 53.65%, at the market close.
Here we discuss the recent developments of the two companies.
Trillium Therapeutics Inc.
Trillium has a market capitalization of US$1.8 billion and a P/E ratio of US$28.37. The stock grew spectacularly on Monday after Pfizer announced plans to acquire Trillium.
Under the agreement, Pfizer will own all the outstanding shares of Trillium for US$18.50 per share or an implied equity value of US$2.26 billion in an all-cash deal.
Trillium’s June quarter 2021 revenue was US$10,000 compared to US$115,000 in the same period the previous year. Its net loss was US$18,399 compared to a net loss of US$23,218 in the previous year’s June quarter. The trading volume rose to 70 million on Monday from 470,070 on Aug 20. The stock was trading in the green in the aftermarket hours.
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Source – pixabay
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Vivos Therapeutics, Inc.
Its market capitalization is US$135 million. The medical technology company develops treatments for sleep-related disorders.
The revenue for the June quarter of 2021 was US$4.5 million compared to US$3.3 million in the previous year’s quarter. The net loss was US$4.1 million compared to US$1.4 million in the same quarter of 2020.
The stock rose more than half of its value in Monday’s session after it announced getting a 501(k)-market clearance from FDA. The clearance is for mmRNA device for sleep disorder treatment. The stock price fell in the after-market hours after rising in the business hours.
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Bottomline
Healthcare companies have seen strong growth over the past two quarters. Besides covid vaccine manufacturers, other drugmakers also have seen growth. The momentum is likely to continue as the sector braces for increased government funding over the next few quarters.
