The Numbers Behind DAVIDsTEA (DTEA); Advaxis (ADXS), Amgen (AMGN) to End Collaboration Deal; Axovant (AXON) Stock Offering; Pluristem (PSTI), Hancock Jaffe (HJLI) In Focus
Shares of DAVIDsTEA Inc. (Nasdaq:DTEA) tumbled more than 16% in the extended session Thursday after the company reported its quarterly financial results.
For the third quarter 2018, DAVIDsTEA posted sales of $43.7 million, a 1.5% increase year over year, and an adjusted net loss of $7.4 million, or ($0.28) per diluted share, compared to an adj. net loss of $4.5 million, or ($0.17) per diluted share in the same period the prior year.
Despite a decline in same store sales, the company said that it is seeing favourable trends in several areas of the business.
DAVIDsTEA operates as a retailer of specialty tea in Canada and the United States. The company offers approximately 135 loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, and accessories; and food, as well as tea beverages, such as hot or iced tea, and tea lattes. It provides loose-leaf tea in white, green, oolong, black, pu'erh, mate, rooibos, and herbal tea categories.
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Hancock Jaffe Laboratories Inc. (Nasdaq:HJLI) specializes in developing and manufacturing bioprosthetic medical devices to establish improved standards of care for treating cardiac and vascular diseases.
HJLI currently has three product candidates:
- the porcine tissue based VenoValve, which is intended to be surgically implanted in the deep venous system of the leg to treat Chronic Venue Insufficiency. HJLI said recently that it will present its application for its first-in-human trial for the VenoValve to INVIMA’s (the Colombian equivalent of the U.S. FDA) Medical Device and Other Technologies Committee at its upcoming meeting this month.
- the CoreoGraft, a bovine tissue based off the shelf conduit intended to be used for coronary artery bypass surgery, The company will begin a feasibility study for its CoreoGraft bioprosthetic graft on January 29th at the Texas Heart Institute. HJLI expects to have preliminary results from the study immediately after the first implantations and final results from the study at the end of March, 2019.
- a porcine tissue based heart valve, which based upon its relatively small size and increased output, is an ideal candidate for pediatric aortic/mitral valve replacement.
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Advaxis, Inc. (Nasdaq:ADXS) shares plunged more than 25% in after-hours trading Thursday as the company disclosed in a regulatory filing ( FORM 8-K ) with the U.S. Securities and Exchange Commission (SEC) that recently received a written notice of termination from Amgen, Inc. (Nasdaq:AMGN) with respect to the License and Collaboration Agreement pertaining to the development and commercialization of the ADXS-NEO program.
According to Advaxis, the termination of the collaboration agreement with Amgen will be effective on February 8, 2019. The ADXS-NEO study is currently enrolling patients and Advaxis will evaluate whether to re-partner the ADXS-NEO program.
Advaxis is a late-stage biotechnology company focused on the discovery, development and commercialization of proprietary Lm-based antigen delivery products.
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Axovant Sciences Ltd. (Nasdaq:AXON) said after the closing bell Thursday that it has commenced an underwritten public offering of its common shares.
Shares of the clinical-stage gene therapy company plunged over 6% in after-hours trading following the announcement.
Axovant is focused on developing a pipeline of innovative product candidates for debilitating neurological diseases such as Parkinson's disease, GM1 gangliosidosis, Tay-Sachs and Sandhoff diseases, oculopharyngeal muscular dystrophy (OPMD), amyotrophic lateral sclerosis (ALS), frontotemporal dementia, and other indications.
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Pluristem Therapeutics Inc. (Nasdaq:PSTI) will host a Key Opinion Leader (KOL) meeting on Peripheral Artery Disease (PAD) on Friday, December 14, 2018 at 8am-9:30am EST, in New York City. The event is intended for institutional investors, sell-side analysts, investment bankers, and business development professionals only.
The meeting will feature presentations by KOLs John Lantis, MD, Vice Chairman of the Department of Surgery and Chief of Vascular and Endovascular Surgery at Mount Sinai West, and Mary L. Yost, MBA, Co-Founder of The Sage Group, who will discuss the current treatment landscape and unmet medical needs, the economic impact, and potential market opportunities for treating patients with PAD.
Pluristem's management team will also provide a corporate overview of the company's development strategy and recent achievements.
Pluristem Therapeutics is a leading regenerative medicine company developing novel placenta-based cell therapy products. The Company has reported robust clinical trial data in multiple indications for its patented PLX cells and is entering late stage trials in several indications.
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