So far, September has been a wild ride of ups and downs. Following the recent bout of volatility, stocks have ticked higher again. But as uncertainty regarding another rescue program and the presidential election continues to linger, where does the market go from here?
Weighing in for Oppenheimer, Chief Investment Strategist John Stoltzfus argues that any market dips appear “relatively contained and orderly,” and present longer-term investors the chance to find “babies that got thrown out with the bathwater.” He noted, “For nervous investors the recent downdraft has presented opportunity to take some profits without FOMO (fear of missing out).”
As for the tech heavyweights that powered the market’s five-month charge forward, the strategist believes “current expectations that technology stocks will remain under pressure for some time seem exaggerated.” Stoltzfus adds that the “core of technology stocks did not appear terribly rich in price considering that developments in technology and innovation have yet to show signs of plateauing in the current cycle.”
Taking Stoltzfus’ outlook into consideration, our focus turned to stocks that Oppenheimer analysts are bullish on. The firm’s pros see triple-digit upside potential in store for three tickers in particular. Running the names through TipRanks’ database, we wanted to find out what makes each so compelling.
MediWound Ltd. (MDWD)
Developing cutting-edge products, MediWound wants to address unmet needs in the fields of severe burn and chronic wound management. With an important government contract secured, Oppenheimer has high hopes for this name.
Back in January, MDWD announced that the U.S. Biomedical Advanced Research and Development Authority (BARDA) had entered into a contract to procure $16.5 million of NexoBrid, its drug designed to remove eschar in adults with deep partial and full-thickness thermal burns (a process called debridement), for an emergency stockpile. According to management, the first delivery is set for Q3 2020.
On top of this, the company filed the NexoBrid Biologics License Application (BLA) with the FDA for eschar removal in adults with deep partial-thickness and full-thickness thermal burns in June. MDWD’s U.S. commercial partner, Vericel, is preparing for an immediate launch upon approval.
Representing Oppenheimer, 5-star analyst Kevin DeGeeter points out that “Given the filing involved participation from three parties—MDWD, U.S. commercial partner Vericel and funding partners at BARDA—and was completed against the backdrop of public sector work-from-home mandates, we view meeting stated timelines as a material milestone and derisking event for MDWD shares… we believe NexoBrid is on track for 1H21 launch.”
Should the therapy ultimately be approved, MDWD is entitled to a $7.5 million milestone payment from Vericel. “We believe the combination of existing cash and the $7.5 million milestone payment from VCEL upon NexoBrid approval should fund operations at least into 2H23,” DeGeeter added.
DeGeeter also points out that MDWD plans to open 25-30 sites in U.S. and Israel to support the Phase 2 study of EscharEx, its product for chronic wounds. Although COVID-19 resulted in a delay, the analyst thinks “the current timeline of 1H21 is achievable.”
To this end, DeGeeter rates MDWD an Outperform along with a $7 price target. Should his thesis play out, a potential twelve-month gain of 117% could be in the cards. (To watch DeGeeter’s track record, click here)
All in all, other analysts echo DeGeeter’s sentiment. 4 Buys and no Holds or Sells add up to a Strong Buy consensus rating. With an average price target of $6.63, the upside potential comes in at 106%. (See MDWD stock analysis on TipRanks)
UroGen Pharma (URGN)
Primarily focused on uro-oncology, UroGen Pharma develops advanced non-surgical treatments to improve the lives of patients. As the launch of one of its products is progressing well, Oppenheimer thinks that now is the time to get on board.
Writing for the firm, analyst Leland Gershell points to UGN-101 as a key component of his bullish thesis. UGN-101, which has now been formally launched in the U.S. under the commercial name Jelmyto, was designed as a treatment for low-grade upper tract urothelial carcinoma (LG UTUC). The analyst highlights that Jelmyto’s launch is already off to a solid start, as eight patients had received 20 doses of the drug in June.
“Jelmyto sales were $371,000 in its first month of launch, but more important was management’s commentary that over 100 urology practice sites are treatment-ready for the product, and that patient demand has not been visibly impacted by COVID-19,” Gershell explained.
Adding to the good news, permanent C- and J-codes, which are expected in October and January 2021, respectively, could bolster sales, in Gershell’s opinion. The label could also be updated to reflect completed OLYMPUS data.
It should be noted that patient and physician engagement could remain diminished through YE20, and restrictions around elective surgeries could persist, according to Gershell. That said, he argues that “LG UTUC’s lack of surgical urgency could imply treatment deferral for several months, whereas Jelmyto’s ability to be administered in an outpatient setting could expedite treatment, favoring adoption.”
If that wasn’t enough, UGN-102, its mitomycin gel that targets low-grade intermediate risk non-muscle invasive bladder cancer (LG IR-NMIBC), is set to enter pivotal testing before the end of 2020. Looking at previously released data, the therapy achieved a 65% complete response (CR) rate at three months following onset of treatment. “To offset any potential COVID-19 impact on enrollment, URGN has increased the number of clinical trial sites outside of the U.S., in those countries where virus-related clinical delays have not cropped up,”Gershell added.
Summing it all up, Gershell commented, “We believe shares trade at a discount to the value of Jelmyto and UGN-102, and that revenue growth will support stock upside over the next 12 months.”
To this end, Gershell stands with the bulls, reiterating an Outperform rating. At $48, his price target brings the upside potential to 123%. (To watch Gershell’s track record, click here)
What does the rest of the Street have to say? 3 Buy ratings and 1 Hold have been issued in the last three months. As a result, URGN receives a Strong Buy consensus rating. In addition, the $44 average price target suggests 104% upside potential. (See URGN stock analysis on TipRanks)
Ayala Pharmaceuticals Inc. (AYLA)
Last but not least we have Ayala Pharmaceuticals, which is focused on developing targeted therapies for cancers in which Notch activation is a known tumor driver. Based on the progress across its development pipeline, Oppenheimer sees big gains in store.
Oppenheimer analyst Jay Olson thinks AYLA’s technology makes it a stand-out. Its two candidates, AL101 and AL102, which are in-licensed from Bristol Myers, are gamma-secretase inhibitors that target aberrant activation of Notch signaling in cancer cells.
Notch signaling plays an important role in normal cell development, and perturbations can cause malignant transformation. “We believe Notch targeted therapies hold promise in addressing unmet clinical needs,” Olson commented.
The analyst added, “The Notch mutational landscape is diverse, and the underlying science is evolving. AYLA is building a bioinformatics database around Notch to better characterize and identify Notch-activating mutations. Additionally, AYLA is collaborating with partners developing diagnostic tests for Notch-activating mutations, both at DNA and RNA levels. We believe these initiatives benefit AYLA in the long term by identifying responders and expanding the addressable patient population.”
Despite the challenges presented by COVID-19, critical catalysts remain on track. The company is set to present new interim data from the Phase 2 ACCURACY open-label study of AL101 in R/M ACC at the mini oral head and neck cancer section of ESMO. Looking at the available data, a recent interim analysis in one cohort showed 69% DCR.
As for the second cohort, it is evaluating a 6mg once-weekly dosing of AL101. “We view the efficacy and safety data from the 6mg dosing cohort as important for the registration-enabling studies, and we anticipate similar interim data readout in 1H21,” Olson said.
Adding to the good news, AYLA is on track to kick off patient dosing in the Phase 2 TENACITY study of AL101 in R/M TNBC by YE20 after the IND was cleared by the FDA in April. In 2021, AYLA plans to initiate two additional Phase 2 studies including AL102 for desmoid tumors and AL101 for r/r T-ALL.
“Springworks Therapeutics recently announced the completion of patient enrollment of the Phase 3 DeFi trial of nirogacestat in desmoid tumors with topline data expected mid-2021, which should provide read-across to AYLA’s AL102 program,” Olson noted.
Given all of the above, Olson opined, “We’re encouraged by AYLA’s advantages along several dimensions, including its drug candidates, cancer indication selection, and focus on identifying Notch-activating mutations while developing diagnostics. AYLA’s Notch targeted approach should address unmet clinical needs for patients with rare but aggressive cancers.”
It should come as no surprise, then, that Olson stayed with the bulls. To this end, he kept an Outperform rating and $23 price target on the stock, implying 123% upside potential. (To watch Olson’s track record, click here)
Looking at the consensus breakdown, 2 Buys and 1 Hold have been published in the last three months. Therefore, AYLA gets a Moderate Buy consensus rating. Based on the $19.83 average price target, shares could climb 92% higher in the next year. (See AYLA stock analysis on TipRanks)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
TikTok writes to rivals over suicide clips
TikTok has written to social media firms asking them to join together to remove content that depicts self-harm or suicide more quickly.
It comes after a clip of a man killing himself was widely circulated on its platform and viewed by young children.
Theo Bertram, Europe’s public policy head, said the sharing of the video suggested a co-ordinated attack, possibly from bot accounts.
He declined to discuss ongoing negotiations on the future of TikTok.
Mr Bertram was being grilled by MPs on the Department of Digital Culture, Media and Sport who are investigating how social media platforms deal with online harms.
They were also keen to hear more about the future of the company outside China, in wake of President Donald Trump’s threat to ban the app in the US unless a deal is struck with American firms.
Owner ByteDance is currently in talks with Oracle and Walmart over its future, but reports suggest that China is unlikely to approve what it sees as an unfair deal.
Mr Bertram said he was not able to comment on the details of the ongoing negotiations.
“I think there are broader concerns around China and China’s role in the world. And I think that these concerns are projected on to TikTok and don’t think they are always fairly projected,” he told MPs.
When pressed on how the platform dealt with content sensitive to the Chinese government, such as protests in Hong Kong and the treatment of the Uighur Muslims, he told MPs: “TikTok is a business outside of China and is led by European management that have the same concerns and the same world view that you do and we care about our users.”
Some of those users have recently been traumatised by a clip circulating on the platform showing a US man killing himself, and Mr Bertram acknowledged that the firm had to “do better”.
Mr Bertram explained that the firm had seen a huge spike in the sharing of the clip a week after the broadcast took place on Facebook Live.
“Following an internal review, we found evidence of a co-ordinated effort by bad actors to spread this video across the internet and platforms, including TikTok.
“And we saw people searching for content in a very specific way. Frequently clicking on a profile of people as if they’re kind of anticipating that those people had uploaded a video.”
He said the firm had written to the chief executives of Facebook, Instagram, Google, YouTube, Twitter, Twitch, Snapchat, Pinterest and Reddit.
“What we are proposing is that, the same way these companies already work together around child sexual imagery and terrorist-related content, we should now establish a partnership around dealing with this type of content.”
And for TikTok itself, he promised “changes to machines learning and emergency systems” as well as how algorithms that detect such content can work better with the firm’s content moderators.
He was also asked about reports that TikTok had removed content around disabilities or LGBTQ.
He explained that “unfortunately” there had been a policy around not promoting content that might encourage bullying, which limited content from people with disabilities and LGBTQ content.
“That is no longer our policy,” he said.
He was less clear on whether the firm restricted the promotion of LGBTQ hashtags in Russia, saying: “Not as far as I’m aware… The only time we will remove that content is when we have a legal requirement to do so.”
Curaleaf’s Select Brand Expands Into New York
America’s #1 Cannabis Brand Now Available in 13 States Nationwide
WAKEFIELD, Mass., Sept. 22, 2020 /CNW/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading vertically integrated cannabis operator in the United States, announced today the launch of its line of Select brand products to medical patients in New York, starting with its Select Elite cannabis oil cartridges.
Select, known as America’s #1 Cannabis Oil Brand, was acquired by Curaleaf in February 2020 and is on track to become the first nationally recognized cannabis brand. As a recognized industry leader, Select is committed to testing, transparency, and education for patients and dispensaries alike. The brand is currently available in 13 states across the U.S., including Arizona, California, Colorado, Connecticut, Florida, Maryland, Michigan, New York, Nevada, Oklahoma, Oregon, Massachusetts, and Maine, and looks forward to launching in Ohio’s medical market by month-end. Select expects to continue its expansion across the U.S. by entering into New Jersey, Illinois, Pennsylvania and Utah in the coming months.
Select maintains the highest quality control standards and testing transparency while delivering the best experience possible. The brand’s most popular product, Select Elite, provides an activated, broad-spectrum oil with a high THC level, with various strain-specific flavors and effects. Select plans to expand its assortment of products in New York in the coming months with Select Elite Live, the brand’s best-selling enhanced live resin cartridge.
“Select undergoes the most stringent and progressive oil testing standards in the industry, and we are excited to offer that consistent quality and experience to our medical patients in New York,” said Joe Bayern, President at Curaleaf. “As a company we are dedicated to creating brands and innovative product formats to make cannabis accessible to all, ultimately bringing more options to market to meet patients’ health and wellness needs.”
To celebrate the launch of Select in New York, Curaleaf is making financial contributions to two local organizations, Women Grow and The Equity Organization, both of which are dedicated to promoting diversity and social equity within the cannabis industry. Curaleaf is committed to building an eco-system of impact, policy and business that aligns with the greater good of the cannabis industry and the communities in which the Company operates and serves. The Company will be announcing its full social equity plan as part of its corporate social responsibility program “Rooted In Good” later this year.
“We are honored to be selected by Curaleaf. Their support empowers us to provide the necessary programming for all women in our communities,” said Gia Morón, President of Women Grow. “It is companies like Curaleaf who continue to be allies for inclusion and change. Our shared values of creating resources for women allow us to guide them towards levels of success. We thank Curaleaf and look forward to expanding our partnership with this awesome team.”
Select products will be available at dispensaries state-wide, starting with Curaleaf’s retail locations in Carle Place, Queens, Hudson Valley, and Plattsburgh. To find a dispensary near you that carries Select products, go to www.selectbetter.com and click “Find Us” for an interactive map of locations.
About Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”) is the leading vertically integrated U.S. multi-state cannabis operator with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. Curaleaf currently operates in 23 states with 93 dispensaries, 22 cultivation sites and 30 processing sites, and employs over 3,000 team members across the United States. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information please visit www.curaleaf.com.
Curaleaf Holdings, Inc.
Dan Foley, VP, Finance and Investor Relations
Curaleaf Holdings, Inc.
Tracy Brady, VP Corporate Communications
FORWARD LOOKING STATEMENTS
This media advisory contains forward–looking statements and forward–looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, ” expects” or, “proposed”, “is expected”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward–looking statements and information concerning the expansion of the Select Brand in New York. Such forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under “Risk Factors and Uncertainties” in the Company’s latest annual information form filed September 23, 2019, which is available under the Company’s SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
View original content:http://www.prnewswire.com/news-releases/curaleafs-select-brand-expands-into-new-york-301135626.html
SOURCE Curaleaf Holdings, Inc.
View original content: http://www.newswire.ca/en/releases/archive/September2020/22/c5838.html
Google’s Area 120 launches Tables, a rules-based automation platform for documents
Google’s Area 120 incubator today launched Tables, a work-tracking tool with IFTTT-like automation features and support for Google products including Google Groups, Google Sheets, and more. Currently in beta in the U.S., Tables automates actions like collating data together, checking multiple sources of data, and pasting data into other docs to hand off.
“Tracking work with existing tech solutions meant building a custom in-house solution or purchasing an off-the-shelf product, but these options are time-consuming, inflexible and expensive,” Tables general manager Tim Gleason explained in a blog post. “Tables helps teams track work and automate tasks to save time and supercharge collaboration — without any coding required.”
Using Tables, teams can program bots to schedule recurring email reminders when tasks are overdue, message a Slack or Google Chat room when new form submissions are received, or move a task to someone else’s work queue when the status is changed. Templates for things like a simple task tracker, webhooks for Slack and Zapier, and Sheets views and layouts are available, as are tutorials for applying tables to IT operations, customer relationship management, employee recruiting and onboarding, and product development tasks.
Tables can also ingest Sheets and .CSV files as custom templates and it supports forms for things like collecting customer resposes to surveys. Moreover, users can customize how they visualize and interact with data using grid views, record lists, kanban boards, and maps.
“Tables, with other teams at Google, is investing in automation,” added Gleason, who noted that Tables is already being used by customers including School of Rock, the Colorado Governor’s Office of Information Technology, and Somerset Public Library System in New Jersey. “It’s time to spend more time working and less time tracking it. Now you can work more efficiently and collaborate easily, no matter the task.”
Customers get up to 100 tables, 1,000 rows, up to 1GB of attachments, and 50 bot actions for free. Paid plans, which include up to 1,000 tables, 10,000 rows, up to 10GB of attachments, and 500 actions along with advanced history, sharing, forms, and views capabilities, cost $10 per month.
- TikTok writes to rivals over suicide clips
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