ASPN - Lunch Time Pitch
2024-05-02 12:58:43 ET
DENVER, Colo., May 02, 2024 ( 247marketnews.com )- Brera Holdings (NASDAQ: BREA ) , Emergent BioSolutions Inc. (NYSE: EBS ), Aspen Aerogels, Inc. (NYSE: ASPN ), Allarity Therapeutics, Inc. (NASDAQ: ALLR ), and Context Therapeutics Inc. (Nasdaq: CNTX ).
Brera Holdings (NASDAQ: BREA ) unveiled the schedule for next weekend’s FENIX Torphy Final Four, today, but the real buzz centers around European media reports stating that the Company is actively negotiating to purchase an Italian professional football (soccer) club.
TuttoB reported that the owner of Calicio Lecco 1912 were in negotiations to sell the club , BSO Sport stated that a Nasdaq listed company wants to buy Brescia for $20 million , and Pianeta Seiri B news site reported that Brera Holdings presented Cellino an offer to buy Brescia Calico Club for around $20-25 million euros .
Brescia Calcio played in Serie A as recently as the 2018-2019 season, so, with new partners, and additional funding, they could easily give Brera Holdings a shot at making a big run in Italian soccer, as investment banking giants, like Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM), which announced forming new sports investment banking teams, are getting more deeply involved in this space.
Science Direct’s Sports Economics Review stated the rewards for a promoted second tier side have lasting impacts and estimated to add $238-$280 million in value over the next 7 years . Similar negative results follow the unlucky relegation teams.
Emergent BioSolutions Inc. (NYSE: EBS ) reported it first quarter financial results and upgraded its 2024 forecast.
Its first quarter 2024 total revenues of $300.4 million exceeded the prior guidance range, while generating $9.0 million in 2024 first quarter net income and adjusted EBITDA of $66.9 million
“We delivered a strong quarter with growth across all our key products,” commented Emergent President and CEO, Joe Papa. “We also took significant actions to improve our debt position, reduce operating expenses and strengthen our financial flexibility. Emergent’s transformation will not happen overnight. The actions we are implementing today, combined with the assets Emergent possesses, will enable us to move faster, reach farther and be more nimble. The public health threats we collectively face are changing, and so is Emergent.”
Emergent increased the lower range of its full year 2024 financial forecast from $900 – $1,100 million to $1,000 – $1,100.
Emergent BioSolutions also announced the next phase of its new operational plan that consolidates operations, closes several manufacturing facilities, and restructures its enterprise workforce, which is expected to deliver annual cost savings of approximately $80 million
Aspen Aerogels, Inc. (NYSE: ASPN ) reported its first quarter financial results and its total revenue for the first quarter of 2024 was $94.5 million, compared to $45.6 million for the same quarter of 2023.
Aspen’s adjusted EBITDA for the first quarter of 2024 was $12.9 million, compared to a loss of $13.9 million for the same quarter of 2023.
“We continue to execute the transition of our Energy Industrial products to our external manufacturing facility and dedicate our manufacturing plant in East Providence to the production of aerogel for EV thermal barriers. We believe the Q1 results further demonstrate that we have the capability with existing assets and supply arrangements to deliver $650 million of annual revenue with at least 35% gross margins and 25% Adjusted EBITDA margins,” stated Aspen’s President and CEO, Don Youn. “We remain deeply engaged with a growing list of automotive OEMs and battery cell manufacturers and have strong conviction that we are providing a unique solution to a very challenging problem. We remain focused on scaling the five OEM awards that we have in hand alongside maximizing our Energy Industrial business.”
Aspen updated its 2024 full year outlook including raising its expected revenue from up to $350 million to up to $380 million, while increasing its adjusted EBITA from to up to $30 million to up to $50 million.
Allarity Therapeutics, Inc. (NASDAQ: ALLR ) reported that its Phase 2 clinical trial of stenoparib revealed clear clinical benefit, including tumor shrinkage and long-term disease stability, in heavily pre-treated ovarian cancer patients who otherwise have limited life expectancy, and provided sufficient clinical proof of concept for stenoparib as monotherapy, prompting Allarity to halt further enrollment in this trial to enable and accelerate the development of a follow-on trial with FDA regulatory intent.
“Based on the substantial clinical benefit observed in the early stages of the trial, we have achieved proof of concept results that surpassed our initial expectations and provided the critical insights we were seeking,” commented Thomas Jensen, CEO of Allarity Therapeutics. “Concluding the trial now is the most effective way to re-allocate our financial resources to develop a follow-on trial with the fastest route to regulatory submission for stenoparib. The patients enrolled in this trial are heavily pretreated, having undergone multiple prior treatments, often including PARP inhibitors. It is highly noteworthy that stenoparib, used in patients selected with the DRP® CDx, has delivered sustained clinical benefit for such very heavily pre-treated patients in the trial.”
Context Therapeutics Inc. (Nasdaq: CNTX ) stated that the FDA cleared its Investigational New Drug (“IND”) application for CTIM-76, supporting the initiation of a Phase 1 dose escalation and expansion clinical trial of CTIM-76 in patients with CLDN6-positive gynecologic and testicular cancers.
“The FDA’s clearance of our IND marks an important achievement for Context, allowing us to proceed with the Phase 1 clinical program for this potentially best-in-class CLDN6-targeting therapy,” stated CEO of Context, Martin Lehr. “We look forward to the expected dosing of the first patient with CTIM-76 in the coming months, and we believe the Company is well-positioned to achieve key program milestones.”
Context Therapeutics further reported entering into a private placement that is expected to result in gross proceeds of approximately $100.0 million, before deducting fees and expenses.
The post Lunch Time Pitch appeared first on 24/7 MarketNews .
For further details see:
Lunch Time Pitch