Combined with a substantially reduced cash burn, Progenity has extended cash runway to support its clinical development programs into 2023. SAN DIEGO, March 28, 2022 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), an innovative biotechnology company, today provided a corporate update and reported financial results for the fourth quarter and full-year ended December 31, 2021. Instead, you can choose to buy PROG stock based on the companys potential as an innovator in addressing gastrointestinal (GI) disorders. This informationincluding product informationis intended only for residents of the United States. Now, there are diagnostics already available for the disease, but these include a battery of tests. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. This agreement is one of many steps towards providing global access to a safe and efficacious vaccines for COVID-19. Rather, theyre debating the short-squeeze potential. Thinking aloud, Progenity's approach to partnering with a drug developer, and making use of its own alternative ("drug") delivery mechanism reminds me of TFF Pharmaceuticals (TFFP), which I covered last month. Pfizer has paid Beam $300m upfront and the deal could be worth >$1.3bn if all milestones across three programs are met. Based on its deep expertise in mRNA vaccine development and in-house manufacturing capabilities, BioNTech and its collaborators are developing multiple mRNA vaccine candidates for a range of infectious diseases alongside its diverse oncology pipeline. Type a symbol or company name. The expectation is for generating additional data in the coming months, initially using known drugs with established safety and efficacy profiles. Treatment of a disease of the gastrointestinal tract with a pde4 inhibitor CN112789042A (zh) 2018-09-28: 2021-05-11 Pfizer Inc: Pharmaceutical combination US6790856B2 (en) * Fourth Quarter 2021 Results and Other Recent Corporate Highlights. +49 (0)6131 9084 1074[emailprotected]. I have no business relationship with any company whose stock is mentioned in this article. Progenity is making great strides in its transformation into a biotherapeutics company. At that offering, the company sold approximately 6.6 million shares for $15 apiece. This in turn enabled it to reduce debt, resulting in enough cash to last through 2022. This is a moderate estimate as could be a catalyst coming from Progenity's molecular testing capabilities. The U.S. government will pay the companies $1.95 billion upon the receipt of the first 100 million doses, following FDA authorization or approval. Progenitys primary specialty is orally administered biotherapeutics that diagnose and/or treat GI issues. If you have an ad-blocker enabled you may be blocked from proceeding. Initiated a follow-on clinical device performance study evaluating the performance of the DDS device in patients with active ulcerative colitis. It trades at about $3.40 today. Naar hoofdcontent gaan LinkedIn. Progenity takes a multi-omics approach, using a combination of genomics, epigenomics, proteomics and metabolomics to improve disease diagnosis. These are not the first deals the company has made to further its mRNA offerings and it is already working on shingles and flu shots using the platform. Revolutionizing drug discovery. Copy and paste multiple symbols separated by spaces. Sylke Maas, Ph.D. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. WebValorisation Recherche Hscm, Limited Partnership: Progenity, Inc. No serious adverse events were reported. Its broad portfolio of oncology product candidates includes individualized and off-the-shelf mRNA-based therapies, innovative chimeric antigen receptor T cells, bi-specific checkpoint immuno-modulators, targeted cancer antibodies and small molecules. Net loss was $92.9 million for the three months ended December 31, 2021 and net loss per share was $0.56, compared to net loss of $43.7 million and net loss per share of $0.46 for the three months ended September 30, 2021. This marks the pharma, like those it is partnering with. Specifically, Progenitys earnings per share, on a trailing 12-month basis, is -$4.28. We routinely post information that may be important to investors on our website at www.Pfizer.com. Premier Inc. (NASDAQ: PINC), through its ProvideGx program, has partnered with Pfizer Inc. to supply five essential medications to healthcare providers, helping to meet the immediate and long-term supply needs of medications necessary to a range of patient care interventions, including some that have been critical during the COVID-19 pandemic. Type a symbol or company name. Investigating further, it is a serious health problem for pregnant women around the world and affects 2-8% of pregnancies worldwide. https://www.businesswire.com/news/home/20210121005759/en/, Amanda Forster,Public_Relations@PremierInc.com, ProvideGx Partners with Pfizer Inc. to Secure the Supply of Five Essential Medications, https://www.businesswire.com/news/home/20210121005759/en/. Net loss from discontinued operations was $10.1 million for the three months ended December 31, 2021 and net loss per share for discontinued operations was $0.06, compared to net loss from discontinued operations of $6.9 million and net loss per share of $0.07 for the three months ended September 30, 2021. On July 20th, the companies announced early positive update from German Phase 1/2 COVID-19 vaccine study, including first T Cell response data. Progenity, Inc. SAN DIEGO, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), an innovative biotechnology company, announced today that the Forward-looking statements may include comments as to Premiers beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Premiers control. The BNT162 vaccine candidates are undergoing clinical studies and are not currently approved for distribution anywhere in the world. Clinical collaborators presented patient data exploring potential causes for the 30% of patients who are primary non-responders to anti-TNF therapies during the 17th Congress of ECCO. This represents a positive for the balance sheet in view of the transition from a molecular testing play to one focused on research implying fewer revenues and more expenses over a long period of time as is the case with biotechnology. Therefore, if you keep your position size small and can handle the volatility, a stake in Progenity could be your next big winner. Samuel Smith for The latest Tweets from progenity (@progenity): "Are you attending the Belgian Week of Gastroenterology #bwge? Shares of Progenity (PROG +40.0%) have soared today after the company apparently secured a patent related to a device in the TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. Learn about SARS-CoV-2, the coronavirus that causes COVID-19, what you can do to stay safe and prevent the spread, and our scientific efforts to help bring an end to the current global health crisis. When financial asset traders talk about Progenity(NASDAQ:PROG) stock, oftentimes theyre not discussing the companys merits and challenges. For more information, please visit www.BioNTech.de. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. As for its Oral Biotherapeutics Delivery System (OBDS) program, the goal is to achieve oral delivery as an alternative to intramuscular injectable vaccines, with considerable potential for use in monoclonal antibodies (mAbs) as well as proteins. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=T&prnumber=102520213, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=TSLA&prnumber=102520213, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=PFE&prnumber=102520213, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=PROG&prnumber=102520213, https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=WATT&prnumber=102520213. Now, since medical research is synonymous with high expenses, I assess the way the cash is to be spent. SVB Securities analyst Andrew Berens said Pfizer could divest the bladder cancer therapy Padcev, to avoid anti-trust scrutiny. Operating expenses were $20.6 million for the three months ended December 31, 2021, compared to $30.7 million for the three months ended September 30, 2021. A Closer Look at PROG Stock Going back to the beginning, Progenity conducted its initial public offering (IPO) on June 22, 2020. Sninsky J. Barnes E. Zhang X. et al. Investor Relations Net loss was reported at $43 million, largely due to operating expenses. In addition, to learn more, please visit us on www.Pfizer.com and follow us on Twitter at @Pfizer and @Pfizer News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer. This press release features multimedia. Operating expenses were $20.6 million for the three months ended December 31, 2021, compared to $28.5 million for the three months ended December 31, 2020. Preecludia validation study results for preeclampsia were published in the Journal of Pharmaceutical and Biomedical Analysis. I wrote this article myself, and it expresses my own opinions. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Both of these have multiple studies ongoing, having reached the preclinical stage in the third quarter of 2021. German biotech BioNTech SE worked on cancer treatments, and was developing an influenza vaccine with Pfizer Inc., when its founder, Ugur Sahin, led the In the same way as Progenity, the pharma is developing a drug delivery mechanism, this time based on inhalation or delivering dry powder to the main respiratory organ of patients. Pfizer announced an agreement with the U.S. government to supply 10 million treatment courses of its investigational COVID-19 oral antiviral candidate, Ever since the first vaccine was developed in 1796 to treat smallpox,1 several different methods have been created to develop successful vaccines. Beam is a highly promising biotech ET PROG earnings call for the period ending December 31, 2020. At that offering, the company sold approximately 6.6 million shares for $15 apiece. It has indicated that a non-profit dose costs just $6.75, or 4.98, to produce, The borrow fee is 74.6% on shares. Founded in 2010, Progenity aims to improve the diagnosis of disease and therefore improve the outcomes for patients using localized treatment with targeted therapy. For a discussion of these and other risks and uncertainties, see BioNTechs Annual Report on Form 20-F filed with the SEC on March 31, 2020, which is available on the SECs website at www.sec.gov. This press release contains forward-looking statements of BioNTech within the meaning of the Private Securities Litigation Reform Act of 1995. Last year, Tempus also partnered with GSK to advance oncology drug development, building on a previous collaboration with the pharma company to support clinical trial enrollment He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. The deals take a wide view as to what made the shot successful, covering both the fundamental genetic technology and the ways it is shuttled into the bodya combination of LNP and mRNA, which also features in the Moderna vaccine. Alarmingly, there are 1.8 million IBD patients in the U.S. alone, and Progenity seeks to provide localized, topical delivery to the colon to address IBD. conducted its initial public offering (IPO), 7 Retirement Stocks to Scoop Up if the Asset Bubble Bursts, Progenity Stock May Not Be a Great Short-Squeeze Play, But It Has Potential, Do Not Sell My Personal Information (CA Residents Only), An ingestible device for delivery of a therapeutic agent to the gastrointestinal tract, Treatment of inflammatory conditions of the gastrointestinal tract with a Janus kinase (JAK) inhibitor, Treatments of GI tract diseases with a SMAD7 inhibitor and, separately, with a chemokine/chemokine receptor inhibitor. We have a wide range of tools to help investors make smarter decisions when investing in stocks or options. Fintel data shows the company having 35% of its float short. Its not psychologically easy to invest in a stock thats been trending downward. Thinking about buying stock in Nio, NVIDIA, Ambrx Biopharma, Carvana, or Paramount? WebGameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Progenitys vision is to transform healthcare to become more precise and personal by improving patient outcomes through localized treatment with targeted therapies and improving disease diagnoses. Still, if youre willing to accept the companys currently negative earnings profile, then we should be able to find positive developments to keep you in the trade. Media Relations I am neutral on Progenity (PROG), as its strong growth potential, general support from Wall Street analysts, and high upside potential relative to its consensus price target are offset by its current steep losses and highly speculative outlook. InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street. Type a symbol or company name. On the other hand, Progenity's test is designed to be run from a simple blood draw. Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative la vie prive et notre Politique en matire de cookies. The Company exploits a wide array of computational discovery and therapeutic drug platforms for the rapid development of novel biopharmaceuticals. In the last few months we have completed the sale of our Avero affiliate, strengthened the focus of the company on our oral therapeutics programs and positioned the company to successfully deliver on its potential to impact the treatment of serious diseases, said Adi Mohanty, Chief Executive Officer of Progenity. Biopharmaceutical New Technologies is a next generation immunotherapy company pioneering novel therapies for cancer and other serious diseases. Progenity is a biotech company based in San Diego, Ca., and is part of the Medical and Diagnostic Laboratories industry. Cision Distribution 888-776-0942 Thats because these penny stocks are frequently the playground for scam artists and market manipulators. This makes sense as research implies a long lead time from discovery to commercialization. Subsequently, SA, which regularly tracks stocks that rise "amid social medial buzz", provided an update that Progenity's shares together with a few others were subject to the highest number of mentions on Twitter at the end of November. Recently, two of the companies four investigational vaccine candidates (BNT162b1 and BNT162b2) received Fast Track designation from the U.S. Food and Drug Administration (FDA). This was still a slight improvement since the previous year, when loss stood at $47 million. Learn about specific ways our research is leading to medicines and vaccines that will benefit patients around the world. For this purpose, Progenity generated $9.6 million of revenues during Q3, out of which $9.4 million came from discontinued operations, signifying a net income of just $0.2 million. To see how InvestorsObserver's proprietary scoring system rates these stocks, view the InvestorsObserver's PriceWatch Alert by selecting the corresponding link. Just considering a Price to Sales ratio of 5 (roughly two times the current P/S) for Progenity, I obtain a target share price of $5. Comparison withTFF Pharmaceuticals points to undervaluation as in the same way as the latter, Progenity could benefit from licensing revenue, and the forthcoming Preecludia publication could constitute a catalyst for upside. ATS Farma Zoekopdracht uitbreiden. Accelerated Company Transformation Toward Oral Delivery of Biotherapeutics and Targeted Therapeutics Programs, Progressed Companys Targeted Therapeutics Clinical Programs with Initiation of Clinical Device Performance Study in Patients with Ulcerative Colitis, Management will host conference call and webcast today at 4:30 p.m. Eastern / 1:30 p.m. Pacific. Forward-looking statements speak only as of the date they are made. The company also improved its corporate governance profile with the appointment of its lead independent director, Jeffrey Alter, as Chairman of the Board of Directors. From Wall Street analysts, PROG earns a Moderate Buy analyst consensus, based on 1 Buy rating, 1 Hold rating, and 0 Sell ratings in the past 3 months. Pfizer announced a series of deals shoring up its mRNA offerings. Additionally, the average PROG price target of $3.00 puts the upside potential at 34.5%. 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