Intelligent Bio (NASDAQ: INBS) Surges Massively Among Stocks Making BUZZ:TPST, HNST, LTRN, VTAK
In recent years, certain stocks have made a buzz in the stock markets, and this feature would provide you with a closer look into five such stocks.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) accomplished a 5-day changed Up 140.02% with soaring volume following news from earlier in the week where Intelligent Bio Solutions Inc. reported combined revenues and government support income rising by 191% on a year-over-year basis and up by 88% on a sequential basis. The impressive stock performance can be attributed to delivering strong financial results, expansion into the South American market, greater expansion plans in the United States market, completion of a key development milestone(s) related to new assays for the Intelligent Fingerprinting Drug Screening System and their overall commitment to innovative solutions in the MedTech industry.
Harry Simeonidis, President and CEO said “We expanded our market presence in South America while advancing our reach in existing markets. We are now focused on executing our plan to enter the U.S. market after receiving FDA guidance on a regulatory pathway for our Intelligent Fingerprinting Drug Screening Cartridge earlier this year.”
During the quarter, the company made a move into the South American market, took forward its plans for the United States market, and also concluded a major development milestone pertaining to its Intelligent Fingerprinting Drug Screening System. The growth experience of Intelligent Bio Solutions was mainly a factor in the successful execution of its expansion plans and significant organic growth. The company also has advanced plans in place for further expansion into the United States market, even as it works on expanding into international markets.
Tempest Therapeutics Inc. (NASDAQ: TPST) The clinical stage oncology company is involved in the development of first-in-class therapeutics that combine both immune-mediated and targeted mechanisms. On November 8, Tempest Therapeutics Inc. announced its financial results for the third fiscal quarter that ended on September 30, 2023.
At the end of the quarter, the company reported cash and cash equivalents of $11.1 million, as opposed to $31.2 million as of December 31, 2022. The net loss for the period stood at $6.8 million, which worked out to $0.48 per share. Both the net loss and net loss per share numbers were improvements on the $8.9 million in net loss and loss of $0.66 per share in the prior-year period. The research and development expenses incurred by Tempest Therapeutics in the third quarter were $4.2 million, as opposed to $6 million in the prior-year period. The drop was mainly brought about by lower costs related to contract research organizations and third-party vendors.
The Honest Company (NASDAQ: HNST) The digitally native consumer products company—is involved in the creation of clean and sustainably produced offerings. The offerings from The Honest Company span beauty, baby care, wellness, household care, and personal care. On November 8, the company announced its financial results for the three and nine-month periods, both of which ended on September 30, 2023.
In the third quarter, the company generated revenues of $86 million, which worked out to an increase of 2% year over year. The boost was brought about by strong retail consumption, strong performance in the baby clothing space, and price-rise benefits. The Honest Company reported gross margins of 31.6% in the third quarter as opposed to 30.3% in the prior year quarter. The gross margins went up owing to the price increases that had been initiated in 2023. Operating expenses in the quarter went down by $2 million year over year and were a reflection of greater marketing efficiency.
Lantern Pharma Inc. (NASDAQ: LTRN) It is a path-breaking artificial intelligence company involved in the field of cancer therapy development. On November 8, Lantern Pharma Inc. announced its financial results for the third fiscal quarter. Lantern’s financial discipline had been cited as a major aspect of its business, and at the end of the quarter, it reported cash, marketable securities, and cash equivalents to the tune of $45 million.
That provided the company with a cash runway that would extend up until the third fiscal quarter of 2025. The company further noted that its artificial intelligence-powered pipeline was targeting a market that could potentially be worth in excess of $15 billion. It was also noted that Lantern Pharma’s RADR AI platform was also a factor in changing the way in which drug-cancer interactions were comprehended and predicted.
Catheter Precision (NYSEAMERICAN: VTAK): The company is best known for having developed the VIVO 3D Mapping System. The non-invasive system from Catheter Precision helps physicians with the identification of ventricular arrhythmias prior to any procedure. The product has also been granted marketing clearance by the United States FDA and bears the CE mark too. The system is not only cost-effective but also helps in boosting margins, improving outcomes, and improving the efficiency of treatments for patients.
Currently, the detection of ventricular arrhythmias is often a costly, invasive, and time-consuming procedure. Some of the popular methods of detecting ventricular arrhythmias include blood tests, echocardiograms, cardiac imaging, electrocardiograms, invasive electrophysiological studies, monitoring of symptoms, and the use of monitoring devices. Many of the traditional methods are invasive in nature and, hence, pose risks to patients and may also lead to longer recovery times. The VIVO 3D Mapping System offers a non-invasive approach that reduces such risks.