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NASDAQ stands out as one of the largest global stock exchanges, hosting major companies spanning various sectors. Here, we delve into noteworthy companies within the BioPharma sector that have recently achieved breakthroughs and garnered attention in the headlines.
Dyadic International Inc. (NASDAQ: DYAI) disclosed on February 6, 2024, that it had entered into a comprehensive evaluation agreement, fully funded and inclusive of a commercial option, with a prominent undisclosed biopharmaceutical company. Under the terms of the agreement, Dyadic International Inc. will utilize its C1 filamentous fungal-based microbial protein production platform to undertake the design and manufacturing of recombinant proteins.
The corporation’s platform has been making significant strides in research and development focused on combatting infectious diseases. It was highlighted that, in accordance with the agreement, the collaborator would be responsible for covering the research and development expenses. Dyadic International Inc. (NASDAQ: DYAI), a worldwide biotechnology company specializing in cutting-edge microbial platforms for protein bioproduction to meet clinical needs in both humans and animals, revealed its involvement in several showcase events scheduled for February 2024. It is worth mentioning that Zacks Small Cap Research has recently issued a research report on the company, establishing a target stock price of $9 per share.
Intelligent Bio Solutions Inc. (NASDAQ: INBS), a medical technology firm specializing in providing rapid, non-invasive, and smart solutions, has recently disclosed its expectation of unaudited revenues amounting to $1.56 million for the six-month period concluding on December 31, 2023. The company’s forecast indicates an impressive year-on-year increase of 337% compared to the corresponding period in the previous year. The company additionally announced an expected 114% year-over-year increase in unaudited revenues for the second fiscal quarter. The accompanying press release highlighted the company’s anticipation of sustained robust revenue growth. This positive outlook is attributed to increased awareness of its Intelligent Fingerprinting Drug Screening System, the unique features of the product, and the company’s ongoing global expansion into new markets. The company is set to generate approximately $1.77 million in gross proceeds through the exercise of existing warrants.
On February 9, 2024, Intelligent Bio Solutions experienced active trading, reaching an intra-day peak of $11.70. The closing price showed a remarkable surge of 134.9% at $6.76, with a trading volume of 89.1 million shares, marking 21 times the normal volume. Additionally, the stock concluded the day above its 50-day moving average, enhancing its intermediate-term outlook by surpassing this significant trendline.
Sana Biotechnology Inc. (NASDAQ: SANA) has disclosed the pricing details for its expanded public offering, aiming to revolutionize medical outcomes through engineered cells. On February 8, 2024, the company announced the pricing of an upsized underwritten public offering, setting the price for 17,272,728 shares of its common stock at $5.50 per share. In an alternative offer, certain investors may opt for pre-funded warrants in lieu of shares. These pre-funded warrants grant holders the right to acquire 12,727,272 shares of Sana Biotechnology common stock at a cost of $5.499 per pre-funded warrant. The company has confirmed that both pre-funded warrants and shares will be offered for sale.
Iovance Biotherapeutics Inc. (NASDAQ: IOVA) is a biotech firm dedicated to pioneering the development and delivery of unique polyclonal tumor-infiltrating lymphocyte (TIL) therapies for individuals battling cancer. On January 19, the company disclosed the approval of inducement stock options, comprising a total of 51,375 shares, granted to six non-executive employees on the preceding day. These awards were conferred in accordance with the company’s 2021 Induction Plan, initially adopted on September 22, 2021, and subsequently amended twice. Notably, each stock option carries an exercise price of $7.94.
Bluebird Bio Inc. (NASDAQ: BLUE) revealed its slated presentations for the 42nd JP Morgan Healthcare conference on January 8. The updates to be presented at the event encompass 2024 program milestones, a financial outlook, and insights into commercial launch progress. Notably, the company’s Chief Executive Officer, Andrew Obenshain, was scheduled to deliver the presentation on January 9, 2024.