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Quanergy (OTC: QNGY) Hits the Pink Sheets After NYSE Delisting with a Bang

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Quanergy (OTC: QNGY) has hit the pink sheets after being delisted by the NYSE having lost well over 90% of its value in recent months as the Company affected a 1 for 20 reverse stock split in October followed by a 10 million share offering in November. While there are currently millions of newly issued shares hitting the market, these shares will run out and when they do QNGY is a major bounce candidate. Not only does the stock has a significant and growing short position that needs to cover, the stock has seen a massive drop and many speculators are already looking at this one as way oversold.  

QNGY is an emerging leading LiDAR platform provider, Quanergy offers a comprehensive product portfolio, including hardware sensors and perception software. Our sensing capabilities include 3D mechanical LiDAR and flow management software. Together, our hardware and smart perception software technologies are combined to create a unique Quanergy Flow Management Platform™ to enable sophisticated solutions for industries such as smart city, smart space, security, and industrial automation. This is a fast-growing Company; Quanergy solutions are deployed by nearly 400 customers across the globe. The Company just signed a multi-million-dollar deal with Prime Secured to enhance surveillance and access control at a major casino. Quanergy currently expects 2022 bookings of $14.0 – $18.0 million, consistent with prior revenue guidance and representing 121% year-over-year growth at the midpoint  


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Quanergy (OTC: QNGY) creates powerful, affordable smart LiDAR solutions for IoT and automotive applications to enhance people’s experiences and safety. Through Quanergy’s smart LiDAR solutions, businesses can now leverage real-time, advanced 3D insights to transform their operations in a variety of industries including industrial automation, physical security, smart cities, smart spaces and much more. Quanergy’s smart perception 3D LiDAR solutions solve some of the most challenging applications in five primary areas: smart cities and spaces, physical security, mapping, industrial automation, and transportation. The Company serves more than 30 industry verticals, helping our customers improve safety, efficiency, and performance, while reducing costs.

QORTEX DTC™ (Detect, Track, Classify), the brains of Quanergy’s Flow Management Platform enables reliable and real-time tracking of people and vehicles for security, smart space, and smart city applications. QORTEX DTC™ generates rich data that includes location, direction, speed, and type of objects detected. Through its API, end-users, system integrators, and application developers can build powerful analytics and business intelligence tools to monitor and automate critical processes such as reducing traffic accidents, protecting the sensitive environments, and increasing efficiency in retail environments.  

In August Quanergy announced financial results for the three months ended June 30, 2022. Revenue for the second quarter of 2022 totaled $1.2 million, compared with $905 thousand in the same period of 2021, representing year-over-year growth of 31%. The conversion of bookings to revenue during the quarter was constrained primarily by the ramping of the company’s manufacturing capacity and the timing of certain bookings that were received late in the quarter. As of June 30, 2022, the Company had $18.8 million in cash, cash equivalents and restricted cash on its balance sheet. During the second quarter, $9.9 million was drawn from the GEM share subscription facility leaving $115 million outstanding under the facility. The Company reported a Second quarter GAAP net loss of $25.7 million compared to $20.5 million in the second quarter of 2021.

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QNGY

On November 1 QNGY announced upgrades to its QORTEX DTC™ and Q-View software solutions, which underpin the company’s Flow Management portfolio, including its MQ-8 series of LiDAR sensors. The marquee features in these new releases include significantly improved accuracy and drastic reduction in false alarm, thanks to the industry’s first motion-based noise reduction mechanism and first occlusion filter/object stitching mechanism. The updates also offer improved security and flexibility, further solidifying Quanergy’s Flow Management solution as the best-in-class end-to-end LiDAR-based solution for security, smart space and smart city applications. 

QORTEX is Quanergy’s LiDAR-based software solution that provides 3D perception and volumetric sensing to enable detection, tracking and classification of 3D vehicles and human-sized objects in real-time. Updates in QORTEX 2.3 include: a movement threshold filter, which easily filters out noisy elements, such as bushes and foliage, Anti-masking capability to detect and alert when an intruder has attempted to thwart the sensor by blocking or masking it with paper, tape, or spray paint. Enhanced user and password management for increased ability to set permissions and tiers of access. A counter line feature that builds onto existing occupancy detection capabilities to help keep track of how many people have gone into and out of an entrance or exit area Zone object count by classification type and Support for Ubuntu 20.04 and IPv6 addressing to offer more flexibility to users. Additionally, Q-View, a software-based configuration toolkit for Quanergy’s LiDAR-based sensors, has been updated in alignment with the upgrades made to QORTEX.  

Sonny Sekhon, senior product manager, flow management, Quanergy Systems, Inc., said: “Cameras can’t address all of the use cases our customers are grappling with when it comes to flow management, intrusion detection, privacy and other aspects of physical security. We continue to innovate and improve upon our Q-View and QORTEX software for enhanced flexibility, security and incremental functionality – providing solutions and leapfrogging that supplements users’ existing investments and takes their systems to the next level.” 

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Currently trading at an $88 million market valuation QNDY OS is 16,164,406 shares. The Company has $51 million in assets vs. $26 million in liabilities and $18 million in cash as of their last filing. QNDY is an emerging leading LiDAR platform provider offering a comprehensive product portfolio, including hardware sensors and perception software. Customer demand for Quanergy’s solutions is constructive, evidenced by robust bookings growth and other indicators, including pipeline growth and land-and-expand trends. Due to the ramping of manufacturing capacity and ongoing supply chain limitations, Quanergy is guiding to Q3 2022 revenues of $1.75 – $2.5 million and full year 2022 revenues of $7.0 – $9.0 million. The Company is very busy recently partnering with PARIFEX on the first 3D LiDAR-based highway monitoring and enforcement system. QNGY also recently released the M1 Edge PoE sensor – the world’s first 2D 360° POE LiDAR sensor – offering higher detection accuracy at a lower price than competing solutions for Perimeter Intrusion Detection and industrial applications. The Company reports its last 12 month bookings increased 100% year-over-year to $8.8 million. We all know how these big boards can run once trading on the pink sheets and QNDY has a whole lot of potential; while there are currently millions of shares coming into the market, once they have been absorbed QNGY could make a really big move fueled by a massive short covering rally. We will be updating on QNGY when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in QNGY either long or short and we have not been compensated for this article

 

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LAVA Therapeutics (NASDAQ: LVTX) Gammabody™ Platform Gains Momentum

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LAVA Therapeutics N.V. (NASDAQ: LVTX) shares soared 106% as the company announced that Janssen Biotech, Inc. chose a lead candidate.

LAVA Therapeutics N.V. (NASDAQ: LVTX) shares soared 106% as the company announced that Janssen Biotech, Inc., a part of the Janssen Pharmaceutical Companies of Johnson & Johnson, chose a lead candidate aimed at an undisclosed tumor-associated antigen for further development towards clinical settings.

GAMMABODY™ PLATFORM

LAVA primarily focuses on revolutionizing cancer therapy by developing its Gammabody™ platform. This platform enables them to create bispecific gamma delta T cell engagers that can activate a specific subset of gamma-delta T cells called Vγ9Vδ2 (Vgamma9 Vdelta2) T cells. By utilizing this approach, they aim to enhance the natural recognition of tumors, guide Vγ9Vδ2 T cells to target the tumor cells directly and trigger a cascade of immune responses.

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What sets their Gammabody™ drug candidates apart is their exceptional performance and safety profiles observed in preclinical studies. Compared to other bispecific T cell engager approaches, their candidates have demonstrated superior efficacy and preferred targeting tumor cells. This targeted approach has the potential to minimize toxicity in healthy tissues.

In May 2020, LAVA entered into a research collaboration and license agreement with Janssen, a subsidiary of the Janssen Pharmaceutical Companies of Johnson & Johnson. This collaboration aimed to discover and develop novel bispecific antibody-based gamma delta T cell engagers for cancer treatment. The agreement was facilitated by Johnson & Johnson Innovation, emphasizing their commitment to fostering innovation in the field.

As part of the collaboration, LAVA had the opportunity to receive potential milestone payments and royalties based on the successful development, regulatory approvals, and commercialization of the candidates. This incentivized LAVA to actively pursue the discovery and advancement of promising lead candidates. 

The collaboration represents a remarkable milestone many early-stage biotech companies aspire to achieve. Partnering with a program brings numerous benefits, including reduced risk of dilution through milestone payments as the trials advance and streamlined commercialization once the product receives approval.

Under the terms of the agreement, Janssen will assume responsibility for the selected candidate’s future clinical development, manufacturing, and commercialization. This includes bearing the costs and expenses associated with these activities.

Stephen Hurly, LAVA Therapeutics’s president and chief executive officer, expressed satisfaction with Janssen’s selection of a lead candidate for clinical studies. He emphasized LAVA’s pioneering role in developing gamma-delta bispecific antibodies through their proprietary Gammabody platform. This platform and LAVA’s extensive expertise in bispecific antibody development position them at the forefront of advancing novel therapies for cancer patients.

In summary, LAVA Therapeutics’ collaboration with Janssen has reached a significant milestone in selecting a lead candidate for further development toward clinical studies. This progress underscores LAVA’s dedication to leveraging its Gammabody platform and expertise in bispecific antibody development to revolutionize cancer treatment.

We will update you on LVTX when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Reunion Neuroscience Inc.’s (NASDAQ: REUN) Take-Private Agreement and Its Impact on Mental Health Solutions

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Reunion Neuroscience (NASDAQ: REUN) shares jump 119% as they announce an exciting new development.

Reunion Neuroscience (NASDAQ: REUN) shares jump 119% as they announce an exciting new development. The clinical-stage biopharmaceutical company has entered into a take-private transaction with MPM BioImpact, representing a significant milestone for Reunion Neuroscience. The transaction is valued at $13.1 million, a 43.1% premium to Reunion’s common shares’ 30-day volume-weighted average price.

Going private is a significant step for Reunion Neuroscience, as it means that a sizeable private-equity group or consortium of private-equity firms will purchase or acquire the stock of the publicly traded corporation.

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Under the terms of the Arrangement Agreement, all holders of outstanding common shares of Reunion will be entitled to receive $1.12 in cash for each share held immediately before the effective time of the Arrangement. However, the agreement’s closing is subject to several conditions, which must be met before the transaction can be completed.

Hostile takeover?

While management and the board think it is a significant milestone achieved, others think differently – an investor rights law firm, Halper Sadeh LLC, is currently investigating it… The sale of Reunion Neuroscience to affiliates of MPM BioImpact for $1.12 per share in cash is currently being investigated by Halper Sadeh LLC.

The investigation concerns whether Reunion and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Reunion shareholders; (2) determine whether MPM is underpaying for Reunion; and (3) disclose all material information necessary for Reunion shareholders to assess and value the merger consideration adequately. On behalf of Reunion shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

Reunion Neuroscience’s stock performance has been relatively volatile in recent years. The stock’s median target price, according to analysts’ forecasts, is $5.00, but there is a wide range of estimates, with a high of $20.00 and a low of $0.73. The current consensus among polled investment analysts is to buy $REUN stock. However, they’re a pre-revenue clinical-stage biopharmaceutical company, which means the last earnings reported a loss in the current quarter’s earnings per share – they’ve yet to generate any significant revenue. Until recently, shareholders experienced a significant decline in the stock’s value this year and were down ~54%  prior to the acquisition. There are ~9M shares in the float, with ~28% and ~13% held by insiders and institutional investors, respectively.

Overall, investors should carefully consider the potential risks and rewards associated with investing in Reunion Neuroscience, considering the wide range of price estimates and the company’s current financial performance. Thorough research and the advice of a financial professional are recommended before making any investment decisions.

We will update you on REUN when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Image by Gerd Altmann from Pixabay

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Marker Therapeutics, Inc. (NASDAQ: MRKR) Unveils Exciting Pre-Clinical Findings of MT-601 T Cell Therapy in Lymphoma Cells

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Marker Therapeutics, Inc. (Nasdaq: MRKR) shares surged by 45% as the company released positive pre-clinical Data on one of its candidates, MT-601.

Marker Therapeutics, Inc. (Nasdaq: MRKR) shares surged by 45% as the company released positive pre-clinical Data on one of its candidates, MT-601. They tested it on lymphoma cells in the lab, and the results showed that MT-601 can kill lymphoma cells resistant to another treatment called CD19 CAR T therapy, which is fascinating news considering many patients who receive CD19 CAR T therapy still experience a relapse within a year. 

“We have recently developed a long-term in vitro model to monitor the interaction of T cells with cancerous cells. Data from a lymphoma cell line utilizing this model demonstrated that MT-601 inhibited the growth of lymphoma cells as well as the growth of CD19 CAR-resistant lymphoma cells,” said Eric A. Smith, Ph.D., Director of Research and Development at Marker Therapeutics. Marker has posted further details about this preclinical study on the Investor Relations section of its website.

Dr. Smith continued, “Specifically, we have developed an in vitro model which reproduces the CD19 antigen-negative tumor that causes relapse and observed the following:

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In this in vitro model, 98% of lymphoma cells were eliminated after a CD19-targeting CAR T cell product was administered.

While the CAR T cells significantly controlled lymphoma cell growth, we observed that three weeks after the start of anti-CD19 CAR T cell administration, a population of lymphoma cells resistant to CD19 CAR T cell administration started to grow.

These CD19 CAR-resistant lymphoma cells were tested for CD19 expression. They were shown to be negative for the CD19 surface antigen, which explained why they were no longer controlled with a second administration of anti-C19 CAR T cells, thus recapitulating the antigen-negative relapse observations in CAR relapsed/refractory lymphoma patients.

However, when MT-601, with its broad antigen recognition (Survivin, NY-ESO-1, WT-1, PRAME, MAGE-A4, SSX2), was added to this anti-CD19 CAR T cell resistant cell population, complete growth inhibition was observed.

These data highlight that MT-601 can potentially eliminate CD19 CAR T cell refractory tumors, indicating that MT-601 might offer a viable therapeutic option for lymphoma patients that have relapsed from previous CAR T cell interventions.”

MT-601 targets multiple substances on cancer cells and may provide longer-lasting results than CD19 CAR T therapy. Marker Therapeutics has started a clinical trial to test MT-601 on lymphoma patients who have relapsed after CD19 CAR T therapy or cannot receive it. The early lab results showed that MT-601 could inhibit the growth of lymphoma cells, including those resistant to CD19 CAR T therapy. The initial results have shown remarkable promise, and the team is thrilled to advance the testing of MT-601 in further clinical trials to evaluate its effectiveness and safety.

About Marker Therapeutics, Inc.

Marker Therapeutics is a company currently in the advanced stages of clinical research for developing innovative treatments in immuno-oncology. Their primary focus is on creating next-generation immunotherapies that utilize T cells, a type of immune cell, to target and fight against hematological malignancies (cancers of the blood, such as leukemia and lymphoma) and solid tumors (cancers that form in tissues or organs). These therapies aim to harness the immune system’s power to specifically recognize and eliminate cancer cells, offering potential new treatment options for patients with these types of cancers.

Capital structure

Marker Therapeutics has an outstanding total of 8.8M shares and presents a relatively small float of 6.64M shares available for public trading. Insiders hold approximately 12.82% of the shares, while institutional investors hold around 22.63%. Examining their trading history, the average volume typically hovers around 100,000 shares. In light of the positive news today, the trading activity trended much higher, with an impressive 27M shares traded at time of writing. This translates to a 270-fold increase compared to their average volume, also 4x their float.

It is essential to recognize the high volatility and rapid movements associated with Marker Therapeutics’ stock, primarily driven by the limited availability of shares. Such stocks tend to attract the interest of day and swing traders, given their propensity for swift gains or losses based on trading strategies. As evidence, a single positive news catalyst in the biotech sector can trigger a substantial surge in stock price and exponentially increase trading volume to unprecedented levels.

We will update you on MRKR when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Image by PDPics from Pixabay

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