| GitLab [GTLB] - Last Close: $35.40 GitLab's latest earnings gave the stock a big boost. The software company posted its fiscal Q1 results late Monday, and the report was better than expected. GitLab's loss per share narrowed to $(0.06) from $(0.18) a year earlier and topped the consensus estimate of $(0.14) by a wide margin. Revenues of $126.9 million were up 45% from last year and beat the Street's $117.8 million target. GitLab's full-year earnings and revenue guidance also exceeded analysts' expectations. GTLB is up 28.8% in early premarket trading. My Take: GTLB took a big hit about a month ago, but the down-trend may have bottomed out in early May. Today's rally could help it break into a new trading range. Zura Bio [ZURA] - Last Close: $6.49 Zura Bio announced a new financing deal that's lifting its shares.
This morning, the biotech said it closed a private placement financing round that generated proceeds of roughly $80 million to fund two planned Phase 2 trials.
Zura said it will use the funds to initiate a Phase 2 clinical trial for ZB-106 in system sclerosis, followed by a Phase 2 trial in hidradenitis suppurativa patients. "Achieving our cash targets puts us in a great position to progress important clinical development programs, and we are excited to move our operations forward as a result," said Dr. Someit Sidhu, the company's CEO and Director. ZURA is up 14.4% on news of the financing deal. My Take: ZURA appears to have big plans, and shares are trading close to their 52-week low. If this drug makes it through Phase 2 trials, ZURA's current price point could turn out to be a buying opportunity. T2 Biosystems [TTOO] - Last Close: $0.07 Shares of T2 Bio are rising after a recent announcement. Late Monday, the biotech firm announced the submission of a breakthrough device designation application to the U.S. Food and Drug Administration.
T2 Bio submitted the application for its Candida auris test. The test detects a fungal pathogen that has been labeled as a global threat by the CDC.
T2Candida Panel can identify sepsis-causing fungal pathogens directly from whole blood without waiting days for a blood culture, T2 Bio says. Shares of TTOO are up 25.2% on news of the submission. My Take: TTOO has gotten absolutely killed since the start of the year, but this diagnostic test appears to have promise. If TTOO continues to struggle, we could see a bigger company swoop in with a buyout bid for the sole purpose of acquiring this promising diagnostic technology. Xcel Brands [XELB] - Last Close: $0.8525 Xcel Brands is up on news of a licensing deal. Early this morning, the company announced a master licensing partnership with G-III Apparel Group [GIII]. Under the terms of the deal, G-III will design and produce all categories and distribute products globally for Xcel Brands' Halston business. Xcel Brands received an upfront advanced payment of an undisclosed sum in May, and the agreement has a total term of 25 years. XELB is one of this morning's top movers with a 34.9% gain. My Take: This is a big deal for XELB, and the stock has already seen big gains since May 15th. Today's announcement could help it sustain its momentum and continue its positive trend. GainersVisionary Education [VEDU] >> +81.6%Green Giant [GGE] >> +26.0%Forza X1 [FRZA] >> +30.1%PDS Biotech [PDSB] >> +15.6%DeclinersHTG Molecular Diagnostics [HTGM] >> (38.0%) Regencell Bioscience [RGC] >> (17.3%)Cadre Holdings [CDRE] >> (14.5%)Entera Bio [ENTX] >> (13.3%) Ferguson PLC [FERG] ... AM
The J.M. Smucker Company [SJM] ... AM
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