Eiger BioPharmaceuticals Stock (OTC: EIGRQ)

Latest news for Eiger BioPharmaceuticals (OTC:EIGRQ) Stock

Eiger BioPharmaceuticals Inc is a commercial stage biopharmaceutical company focused on the development and commercialization of drugs for serious, rare, and ultra-rare diseases with high unmet medical needs and no approved therapies. Its program lonafarnib, a prenylation inhibitor, boosted with ritonavir, for the treatment of Hepatitis Delta Virus (HDV) infection, is in Phase 3 clinical development. Its product candidate pipeline includes Lonafarnib (LNF) in HDV, Peginterferon Lambda (lambda) in HDV, LNF in Progeria, and Progeroid Laminopathies (PL), Avexitide in Post-Bariatric Hypoglycemia (PBH), and Avexitide in Congenital Hyperinsulinism (CHI), all advancing toward Phase 3.

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AMLX

EIGRQ

Amylyx Pharmaceuticals acquired avexitide from Eiger BioPharmaceuticals Inc. for $35.1 million. Avexitide, a GLP-1 receptor antagonist, ready for Phase 3 trial for post-bariatric hypoglycemia and congenital hyperinsulinism.

Why Is Small Cap Amylyx Pharmaceuticals Stock Trading Higher On Wednesday?

EIGER BIOPHARMACEUTICALS by Eiger BioPharmaceuticals, Inc.

Eiger BioPharmaceuticals Inc

Guidance

TMHC

Taylor Morrison Expects Q3 Home Closings To Be Approximately 3,200, Home Closings Gross Margin To Be Around 24%

WIIM

MSGE

Madison Square Garden shares are trading higher after Goldman Sachs upgraded the stock from Neutral to Buy and raised its price target from $41 to $45.

HC Wainwright &amp; Co. analyst Yi Chen reiterates Anixa Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANIX#NASDAQ">ANIX</a>) with a Buy and maintains $7 price target.

Price Target

Reiteration

Analyst Ratings

ANIX

HC Wainwright & Co. Reiterates Buy on Anixa Biosciences, Maintains $7 Price Target

DA Davidson analyst Linda Bolton Weiser maintains Estee Lauder Cos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) with a Buy and maintains $191 price target.

DA Davidson Maintains Buy on Estee Lauder Cos, Maintains $191 Price Target

Goldman Sachs analyst Mark Delaney maintains Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a Neutral and lowers the price target from $248 to $230.

TSLA

Goldman Sachs Maintains Neutral on Tesla, Lowers Price Target to $230

Taylor Morrison Home Now Expects To Deliver 12,600 - 12,800 Homes This Year (Prior View 12,500) At Home Closings Gross Margin Around 24% (Prior View 23.5% - 24.0%)

RIVN

Rivian shares are trading lower after a report indicating the company will face a trial in a Tesla trade secrets theft case.

Vertiv Holdings shares are trading higher after the company reported better-than-expected Q2 EPS and sales. Additionally, the company raised its FY24 guidance.

2024 Outlook1
Otis is revising its full year outlook:
&nbsp;
<ul>
<li>Net sales of $14.3 billion to $14.5 billion</li>
<li>Organic sales up 1% to 3%
<ul>
<li>Organic New Equipment sales down mid-single digits</li>
<li>Organic Service sales up 6% to 7%</li>
</ul>
</li>
<li>Adjusted operating profit of $2.40 billion to $2.45 billion, up $160 million to $190 million at constant currency; up $135 million to $175 million at actual currency</li>
<li>Adjusted EPS of $3.85 to $3.90, up 9% to 10%; adjusted effective tax rate of approximately 25.25%</li>
<li>Adjusted free cash flow of approximately $1.5 billion to $1.6 billion</li>
</ul>

OTIS

Otis Worldwide Revises FY2024 Adj EPS Guidance from $3.83-3.90 To $3.85-$3.90 vs $3.87 Est; Lowers FY2024 Sales Guidance from $14.50B-$14.80B To $14.30B-$14.50B vs $14.62B Est

HC Wainwright &amp; Co. analyst Matthew Caufield reiterates Eyenovia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYEN#NASDAQ">EYEN</a>) with a Buy and maintains $12 price target.

EYEN

HC Wainwright & Co. Reiterates Buy on Eyenovia, Maintains $12 Price Target

GERN

Geron shares are trading lower after the company announced the departure of CCO Anil Kapur.

Taylor Morrison Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMHC#NYSE">TMHC</a>) reported quarterly earnings of $1.97 per share which beat the analyst consensus estimate of $1.90 by 3.68 percent. This is a 7.08 percent decrease over earnings of $2.12 per share from the same period last year. The company reported quarterly sales of $1.991 billion which beat the analyst consensus estimate of $1.839 billion by 8.24 percent. This is a 3.40 percent decrease over sales of $2.061 billion the same period last year.

Earnings

Earnings Beats

Taylor Morrison Home Q2 2024 Adj EPS $1.97 Beats $1.90 Estimate, Sales $1.991B Beat $1.839B Estimate

GOOG

GOOGL

Alphabet shares are trading lower following Q2 earnings.

Perfect Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PERF#NYSE">PERF</a>) announced financial results for the three months ended June 30, 2024, the second quarter.
Total revenue was $13.9 million, compared to $12.7 million year ago, an increase of 9.6%. The increase was primarily due to growth in the revenue of AI- and AR-cloud solutions and mobile app subscriptions.
Gross profit was $11.0 million compared with $10.2 million in the year-ago quarter, an increase of 7.8%.
Despite the increase in gross profit, the gross margin slightly decreased to 79.3% for the second quarter, from 80.6% last year, primarily due to the increase in third-party payment processing fees paid to digital distribution partners such as Google and Apple related to the growth in its mobile app subscription revenue.
Net income was $0.8 million for Q2 compared to a net loss of $0.2 million. Adjusted net income was $1.3 million compared to adjusted net income of $0.9 million in 2023, an increase of 43.8%.
Operating cash flow was $2.0 million in the second quarter of 2024, compared to $2.6 million a decrease of 24.6%.
As of June 30, 2024, Perfect Corp held $120.8 million in cash and cash equivalents, compared to $122.0 million as of March 31, 2024.
Perfect Corp had 151 key customers as of June 30, 2024, compared with 152 as of March 31, 2024. The slight decrease in the number of key customers primarily resulted from specific brand clients&#8217; non-renewal of customer contracts due to financial pressure, among other factors.
As of June 30, 2024, Perfect Corp&#8217;s cumulative customer base included 686 brand clients, with over 774,000 digital stock-keeping units for makeup, haircare, skincare, eyewear, and jewelry products, compared to 666 brand clients and over 745,000 digital SKUs as of March 31, 2024.
Perfect Corp&#8217;s YouCam mobile beauty app active subscribers grew by 18.3% year-over-year, reaching a record high of over 919,000 active subscribers at the end of the second quarter of 2024.
Perfect Corp expects such legacy non-recurring revenue to become increasingly insignificant as it continues strengthening its market leadership in providing AI—and AR-based SaaS subscription solutions for brands and customers.
Based on the growth momentum in enterprise SaaS solution demands and YouCam mobile app subscriptions during the first half of 2024, Perfect Corp reiterates its expectation that the year-over-year growth rate of total revenue in 2024 would range from 12% to 16% compared to 2023.
Price Action: PERF shares closed higher by 1.85% at $2.20 at Tuesday.

Market-Moving Exclusives

Exclusives

PERF

EXCLUSIVE: Perfect Corp's Q2 Revenue Jumps 9.6%, YouCam App Subscribers Hit Record High

Perfect's YouCam Mobile Beauty App Active Subscribers Grew By 18.3% Year-over-year, Reaching Over 919,000 Active Subscribers At The End Of The Second Quarter

Perfect Q2 Sales $13.900M Miss $14.842M Estimate, Adj. Net Income $1.3M; Co. Had Had 151 Key Customers As Of June 30, 2024 vs 152 Key Customers As Of March 31, 2024.

USNA

Usana Health Sciences shares are trading lower after the company reported worse-than-expected Q2 financial results.

Earnings Misses

NAVI

Navient Q2 2024 Adj Sales $136.000M Miss $158.667M Estimate

BMO Capital analyst Jeffrey Silber downgrades Moody's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) from Outperform to Market Perform and lowers the price target from $482 to $455.

Downgrades

BMO Capital Downgrades Moody's to Market Perform, Lowers Price Target to $455

SFL shares are trading lower after the company announced an offering of 8 million common shares.

Eiger Biopharmaceuticals (EIGRQ) has provided an update. William G. Kachioff is stepping down as Chief Financial Officer of Eiger BioPharmaceutical...

Eiger Biopharmaceuticals CFO Exits Amid Bankruptcy Reorganization

Eiger Biopharmaceuticals (EIGRQ) has provided an announcement. Eiger BioPharmaceuticals, Inc. and its subsidiaries, which filed for Chapter 11 bank...

Eiger BioPharmaceuticals Cautions Investors Amid Bankruptcy

Amylyx inks deal to buy Eiger's GLP-1 targeting drug

Amylyx Pharmaceuticals: Potential To Redeem Itself With Data Readouts And Possible GLP-1 Acquisition

Amylyx jumps on acquisition of Eiger's GLP-1 drug

Eiger Biopharmaceuticals (EIGRQ) has shared an update. Eiger BioPharmaceuticals, Inc. and its subsidiaries have filed for Chapter 11 bankruptcy and...

Eiger BioPharmaceuticals Announces Bankruptcy and Liquidation Plan

Small Cap

Press Releases

Sentynl Therapeutics Announces Global Acquisition of Zokinvy® (Lonafarnib) for Treatment of Hutchinson-Gilford Progeria Syndrome from Eiger BioPharmaceuticals

Eiger BioPharmaceuticals

Amylyx Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMLX#NASDAQ">AMLX</a>) acquired avexitide from Eiger BioPharmaceuticals Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EIGRQ#OTC">EIGRQ</a>) <a href="https://www.benzinga.com/pressreleases/24/07/b39705518/amylyx-pharmaceuticals-announces-acquisition-of-phase-3-ready-glp-1-receptor-antagonist-avexitide-">for $35.1 million</a>.



Avexitide is an investigational, first-in-class glucagon-like peptide-1 (GLP-1) receptor antagonist that has been evaluated in five clinical trials for post-bariatric hypoglycemia (PBH) and has also been studied in congenital hyperinsulinism (HI), two indications characterized by hyperinsulinemic hypoglycemia.



The FDA has granted avexitide Breakthrough Therapy Designation for both indications, Rare Pediatric Disease Designation in congenital HI, and Orphan Drug Designation for hyperinsulinemic hypoglycemia (which includes PBH and congenital HI).



Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/04/38188232/amylyx-pharmaceuticals-investigational-drug-shows-improved-pancreatic-function-in-patients-w" rel="noreferrer noopener">Amylyx Pharmaceuticals&#8217; Investigational Drug Shows Improved Pancreatic Function In Patients With Inherited Disorder</a>.



Avexitide is designed to bind to the GLP-1 receptor on pancreatic islet beta cells and block the effect of GLP-1 to mitigate hypoglycemia by decreasing insulin secretion and stabilizing glucose levels.



As part of the transaction, Amylyx assumed certain contractual obligations from Eiger, including a 3% royalty on future sales of avexitide in PBH, if approved, to certain academic institutions.



In previous Phase 2 and Phase 2b studies in PBH, avexitide showed statistically significant reductions in hypoglycemic events characterized by low blood glucose.



Amylyx expects to begin the Phase 3 program for avexitide in PBH in Q1 2025.



The results from the Phase 2 PREVENT study showed that, compared with placebo, avexitide 30 mg twice daily (BID) and 60 mg once daily (QD) significantly increased mean plasma glucose nadir (prespecified primary endpoint) and lowered insulin peak, corresponding to 50% and 75% fewer participants requiring rescue during mixed meal tolerance testing, respectively.



Avexitide was generally well tolerated.



A Phase 2b open-label cross-over study of higher dose avexitide (45 mg BID and 90 mg QD) showed that Avexitide reduced the frequency of hypoglycemia by up to 65% and the amount of time in hypoglycemia by up to 64%.



Price Action: AMLX shares are up 21.2% at $1.99 at last check Wednesday.



Read Next:



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<li><a href="https://www.benzinga.com/general/biotech/24/03/37560664/why-is-neurodegenerative-diseases-focused-amylyx-pharmaceuticals-stock-plunging-on-friday" target="_blank" rel="noreferrer noopener">Why Is Neurodegenerative Diseases-Focused Amylyx Pharmaceuticals Stock Plunging On Friday?</a></li>
</ul>

As part of the transaction, Amylyx assumed certain contractual obligations from Eiger, including a 3% royalty on future sales of avexitide in PBH, if approved, to certain academic institutions.

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Eiger BioPharmaceuticals

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Latest news for Eiger BioPharmaceuticals (OTC:EIGRQ) Stock

Wednesday, July 10, 2024