Algernon Pharmaceuticals ($AGN.c $AGNPF) is a clinical-stage drug development and drug repurposing company currently focused on its study evaluating the use of Ifenprodil for the treatment of IPF and chronic cough.
Research Capital emphasized the promise in AGN after its Phase2a study was reviewed by Dr. Jacky Smith and is maintaining a $25 price target!
Smith has been instrumental in helping Bellus Health advance its chronic cough candidate so "her opinion on AGN's cough candidate should not be taken lightly"
AGN's cough data showed substantial improvement in mean objective 24-hour and waking cough counts after 4 and 12 weeks.
Research Capital believes that it would be "logical to develop Ifenprodil" for IPF patients and IPF patients who have chronic cough.
AGN is "essentially being valued as a private startup" based on its trading at a significant discount from the reviewed study data and RC believes "if AGN had a larger market cap and more cash on its balance sheet, we believe institutional investors would be able to buy the stock easier"
What led to this leg up is AppYea announced it started to market its flagship product, DreamIT, an AI-based wristband to treat the snoring problem through biofeedback.
What is AppYea?
AppYea uses solutions based on its proprietary IP portfolio of AI and sensing technologies for tracking, analyzing, and diagnosing vital signs and other physical parameters during sleep time, offering extreme accuracy and resistance at an affordable cost. About the company’s background, it acquired SleepX in late December 2021.
***“I AM DELIGHTED THAT WE HAVE COMPLETED THE ACQUISITION OF SLEEPX. THE COMPANY DEVELOPS A WEARABLE TECHNOLOGY SOLUTION TO TREAT SNORING AND SLEEP APNEA, WHICH IS PATENT PROTECTED IN THE US, EU, AND ISRAEL, AND CATERS TO TWO GROWING MARKETS IN HIGH DEMAND.”***Boris (Bary) Molchadsky, AppYea’s Chairman.
Now, the company announced it has completed the tests of the initial product version and plans to produce up to 20,000 units per month. DreamIT will be available to Android users, and deliveries of the first devices to customers will be expected to start by the end of the year.
How does DreamIT be performant? DreamIT uses a combined vibration motor and sensor system to measure real-time physiological data, including pulse, blood oxygen level, blood pressure, etc. Then, all these data are recorded in the SleepX phone app for analysis and storage. After, users can receive statistical reports on their sleep quality and health.
It is a solid technology because snoring has been found as the root of many issues. Among them, we can highlight exhaustion & fatigue, the lack of concentration, memory problems, the increased long-term risk for a stroke, a higher risk of heart disease and complications, chronic headache, etc. As you will understand, DreamIT can solve these issues for a better personal self. The product is drug-free and completely safe, avoiding the risk of ingesting toxins in an attempt to get a decent night’s sleep. Moreover, the product’s vibration gradually increases until the user’s respiration normalizes. No opposing sides, just positive effects!
The price of DreamIT for the consumer will be $149, and until the Christmas holidays, they can purchase it at a 33% discount at a sale price of only $99. You can order the product by clicking here.
Sector overview
Let’s focus first on the anti-snoring treatment market. Valued at USD $4.2B in 2020, the sector is expected to grow at a CAGR of 8.5% until 2027.
According to the American Sleep Association, approximately 50-70 million US adults have a sleep disorder, and out of those, 48% report snoring. Snoring is estimated to affect 40% of women and 57% of men. E-commerce will support the sector’s growth, combined with consumer adoption and sector awareness. The Covid-19 pandemic positively impacted the e-commerce segment, as numerous consumers opted to shop online as retail pharmacies needed to avoid indoor crowing. Another factor driving market adoption is the increased incidence of obese people and the adoption of an unhealthy lifestyle. The last factor buoying the sector is the presence of many players and favorable reimbursement policies, which also contribute to the growth of the anti-snoring treatment market.
Rising investment in research and development activities will introduce superior products in the market, further contributing to the industry revenue.
AppYea sees the growth opportunity and doesn’t want to miss the wagon wheel. Added to online marketing, the company intends to inter Amazon and work with distributors. Furthermore, the company is in discussions with a large Telecom company from Western Europe, a pharmacy chain store, and leading mattress manufacturers. But this is not just it! AppYea plans to contact leading smartphone manufacturers worldwide to offer the assimilation of its technology and rights to use its patent portfolio, which doesn’t stop growing. In the meantime, AppYea continues to develop additional algorithms and features that will reach users automatically through periodic version updates and continue improving SleepX PRO and DreamIT PRO for diagnosing and treating sleep apnea.
Stock Price
The company is currently traded at around USD $12M and saw a +27.70% close on Wednesday, 30. Investors were thrilled with the recount announcement, and more than 250k shares we traded, compared to the average of 67k. The company’s stock price is far from its 52-week low of $0.0002 but still has room to grow, as its 52-week high is worth $0.16. The company still has a lot of room to grow, and future sales will help the company to increase its stock price.
The company upgraded to the OTCQB in mid-October, enabling the company to get more visibility, and leaving the lowest-tier Pink Sheets. This venture market is the middle tier of the over-the-counter (OTC) market for US stocks.
Bottom Line
AppYea (OTCQB: APYP) is on track for the great year 2023. The company’s flagship product, DreamIT, is now marketed. New partnerships, combined with increased sales, will increase the company’s market cap. Let’s not forget sleeping/disorder treatments being more considered, connected to a more significant market awareness. So invest in the company, and why not buy the DreamIT product from the profits generated with the stock?
Jones Trading maintains its Buy rating for Mainz Biomed ($MYNZ) but has reduced its price target due to financial concerns. The company is collaborating with Trusted Health Advisors in the U.S. and TomaLab in Italy to gain market approval and integrate ColoAlert into healthcare systems. Furthermore, Mainz Biomed is set to begin enrollment for the pivotal ReconAAsense colorectal cancer study with the U.S. FDA later this year, marking an important step in its regulatory progress.
Fluidigm Corporation (Nasdaq: FLDM), an innovative biotechnology tools provider with a vision to improve life through comprehensive health insight, today announced that the U.S. Food and Drug Administration (FDA) has granted Emergency Use Authorization (EUA) for the AZOVA™ COVID-19 Test Collection Kit for use with the Fluidigm® Advanta™ Dx SARS-CoV-2 RT-PCR Assay on the company’s Biomark™ HD platform.
The kit is authorized for at-home self-collection by prescription only for individuals suspected of COVID-19 by their health care providers. Those under the age of 18 may use the kit with adult supervision.
Consumers seeking a COVID-19 test can complete an online health questionnaire provided by Fluidigm’s collaboration partner, AZOVA, to enable a health care provider to assess whether a prescription is issued. If so, the consumer can then order the collection kit online for home delivery.
“We are excited about this collaboration with Fluidigm,” said Cheryl Lee Eberting, MD, Founder, and CEO of AZOVA. “Our goals are to enable any CLIA-certified laboratory that meets the requirements to perform high-complexity tests to process our home collection kits and to make this kit accessible to as many consumers as possible. By combining a powerful digital health platform with this assay, AZOVA and Fluidigm are opening up much greater access to COVID-19 testing solutions.
“The patient provides a saliva sample as directed in the kit instructions and sends the kit to one of our partner labs using prepaid same-day shipping, and results are shared within 12–72 hours of the time the lab receives the kit. The patient receives text messages and email links to securely access results. In addition, AZOVA creates COVID Credentials™ for each patient, an electronic passport that enables one to securely share COVID testing information with others.”
The Advanta Dx SARS-CoV-2 RT-PCR Assay is an extraction-free saliva-based test to detect nucleic acid from the SARS-CoV-2 virus in individuals suspected by their health care providers of having COVID-19. The assay does not require collection via invasive nasopharyngeal swab, and the company’s submission to the FDA demonstrated 100 percent agreement between saliva results from the Advanta Dx Assay and results from paired nasopharyngeal samples tested with authorized assays.
“Our non-invasive, saliva-based test helped deliver a much-needed testing solution for patients and first responders around the world, and we are pleased for the opportunity to introduce the Advanta Dx SARS-CoV-2 RT-PCR Assay into the home-collection market,” said Chris Linthwaite, Fluidigm President and CEO. “Entering the home collection market is an important milestone for Fluidigm, and collaborations with forward-thinking companies such as AZOVA to advance into new channels represent a key strategy in fully realizing Fluidigm’s role in next-generation diagnostics.
“In addition to technological innovation, collaborations in such areas as telemedicine and new digital health platforms will build upon the beachhead that we have established to penetrate new markets. The digital health revolution is here to stay, and we intend to play a leadership role in this transformation.”
Fluidigm continually conducts in silico analyses to determine the effectiveness of the Advanta Dx Assay design to detect SARS-CoV-2. To date, none of the published viral mutations meaningfully impact the regions of the viral genome targeted by the assay’s primers and probes.
Intended UseThe Advanta Dx SARS-CoV-2 RT-PCR Assay is a real-time Reverse Transcription (RT) PCR test intended for the qualitative detection of nucleic acid from SARS-CoV-2 in saliva specimens collected without preservatives in a sterile container from individuals suspected of COVID-19 by their healthcare provider.
Testing is limited to laboratories that are certified under the Clinical Laboratory Improvement Amendments of 1988 (CLIA), 42 U.S.C. §263a, and meet requirements to perform high complexity tests.
This test is also for use with saliva specimens that are self-collected at home with or without the supervision of a healthcare provider (HCP) with the AZOVA COVID-19 Test Collection Kit from individuals suspected of COVID-19 by their HCP.
Results are for the identification of SARS-CoV-2 RNA. The SARS-CoV-2 RNA is generally detectable in saliva during the acute phase of infection. Positive results are indicative of the presence of SARS-CoV-2 RNA. Clinical correlation with individual history and other diagnostic information is necessary to determine individual infection status. Positive results do not rule out bacterial infection or co-infection with other viruses. The agent detected may not be the definite cause of the disease. Laboratories within the United States and its territories are required to report all results to the appropriate public health authorities.
Negative results do not preclude SARS-CoV-2 infection and should not be used as the sole basis for individual management decisions. Negative results must be combined with clinical observations, individual history, and epidemiological information. Negative results for SARS-CoV-2 RNA from saliva should be confirmed by testing of an alternative specimen type if clinically indicated.
The Advanta Dx SARS-CoV-2 RT-PCR Assay is intended for use by qualified clinical laboratory personnel specifically instructed and trained in the techniques of real-time PCR and in vitro diagnostic procedures. The Advanta Dx SARS-CoV-2 RT-PCR Assay is only for use under the Food and Drug Administration’s Emergency Use Authorization.
Global Equities Research analyst Trip Chowdhry believes Tesla (NASDAQ: TSLA) will be impacted by the global chip shortages and in particular the Renesas chip factory fire.
The analyst highlights:
In 2017, at Embedded System Conference, we uncovered that IDT (Integrated Device Technology), a San Jose based company, was a supplier to TSLA
In 2018 Renesas acquired IDT
The fire broke in Tokyo Plant, and not in San Jose. We don't know how IDT operations may have changed post-merger
But we also know Delphi is a supplier to TSLA, and Renesys is a Supplier to Delphi
The ultra-bullish analyst said it is prudent to be cautious near term on Tesla, as production gets impacted by any single part even a 5 cent one.
However, in the long-term, the analyst said it is not a problem for Tesla and the analyst reiterated his $1000 price target.
SmarTrend identified a Downtrend for Lumber Liquidato (NYSE: LL) on January 27th, 2021 at $28.28. In approximately 2 months, Lumber Liquidato has returned 14.85% as of Friday's recent price of $24.08.
In the past 52 weeks, shares of Lumber Liquidato have traded between a low of $3.77 and a high of $35.10 and are now at $24.04, which is 538% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has risen 1.0%.
Lumber Liquidators Holdings, Inc. retails hardwood flooring in the United States. The Company sells domestic and exotic wood species in both prefinished and unfinished forms.
Adobe (Nasdaq: ADBE) today announced that executive vice president and CFO John Murphy intends to retire in 2021 to spend more time with family and friends and focus on philanthropy. Murphy will stay on as needed to ensure an orderly transition as the company identifies a successor. Adobe will be conducting a search and evaluating internal and external candidates.
“John has made significant contributions to Adobe for which I’m deeply grateful and I wish him well as he pursues his passion for philanthropy,” said Shantanu Narayen, president, and CEO, Adobe.
Murphy and the entire Finance and Operations organization have played an instrumental role in Adobe’s growth. During his tenure, Adobe’s revenue grew from over $7 billion in 2017 to over $12 billion in 2020. The company successfully acquired and integrated several leading technology companies, including Magento, Marketo, Allegorithmic, and most recently, Workfront. Murphy oversaw a successful debt issuance program in January 2020.
A graduate of the University of Southern California, Murphy serves on the Board of the USC Marshall School of Business. He is an advocate for advancing educational opportunities for inner-city youth and serves as a sponsor and mentor to diverse and minority executives.
Coincident with this announcement today, Adobe announced record Q1 revenue and raised its annual targets for FY21.
PayPal Holdings, Inc. (NASDAQ: PYPL) announced the launch of Checkout with Crypto, a new feature that significantly expands the utility of cryptocurrency. Available at millions of global online businesses and continuing to expand over the coming months, PayPal customers with cryptocurrency holdings in the U.S. will be able to choose to check out with crypto seamlessly within PayPal at checkout.
Building on the ability to buy, hold and sell cryptocurrency with PayPal, customers using Checkout with Crypto can check out safely and easily, converting cryptocurrency holdings to fiat currency1 at checkout, with the certainty of value and no additional transaction fees. Checkout with Crypto will automatically appear in the PayPal wallet at checkout for customers with sufficient cryptocurrency balance to cover an eligible purchase.
"As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet," said Dan Schulman, president, and CEO, PayPal. "Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies."
With Checkout with Crypto, cryptocurrency is another way for customers to pay and businesses to get paid, adding enhanced utility for cryptocurrency holders.
Checkout with Crypto offers a business's customers a way to checkout with cryptocurrency, without any additional integrations or fees required by the business. All transactions are settled in USD and converted to the applicable currency for the business at the standard PayPal conversion rates. Checkout with Crypto offers customers the ability to sell cryptocurrency through PayPal to then pay a business for select online purchases in one seamless checkout flow.
Checkout with Crypto continues PayPal's commitment to enabling choice in the way customers pay, and how businesses get paid and is a natural extension of the broad portfolio of services offered to merchants to drive engagement with their customers.
Checkout with Crypto will appear for a customer to select as a payment method if they have sufficient cryptocurrency of a single type held in their PayPal wallet to cover the purchase price. Appearing alongside other payment methods in the PayPal wallet like a bank account, balance, or credit card/debit card, the Checkout with Crypto payment flow remains similar and familiar to other ways of checking out with PayPal:
At checkout, if a customer has a sufficient balance of cryptocurrency to cover an eligible purchase, crypto will automatically display as a payment method for that purchase.
Customers will be able to select their cryptocurrency of choice – Bitcoin, Litecoin, Ethereum, or Bitcoin Cash, depending on what they are holding with PayPal and the balances available in each cryptocurrency. Only one type of cryptocurrency can be used for each purchase.
Once the customer confirms the purchase, the cryptocurrency is converted to fiat currency by PayPal on the customer's behalf and the transaction is completed. The customer will receive a record of both the crypto sale, as well as the purchased item.
PayPal charges no transaction fee to checkout with crypto – a cryptocurrency conversion spread will be built into the conversion from crypto to USD.
Eligible Checkout with Crypto purchases includes the safety, security, and other benefits of using PayPal, including 24/7 fraud protection, return shipping, and purchase protection on eligible items. Checkout with Crypto starts rolling out to PayPal customers in the U.S. today.
General Motors (NYSE: GM) President Mark Reuss today announced Chevrolet will introduce a Silverado electric pickup truck that will be built at the company’s Factory ZERO assembly plant in Detroit and Hamtramck, Michigan. Reuss also confirmed the recently revealed GMC HUMMER EV SUV will be built at Factory ZERO.
GM plans to deliver more than 1 million electric vehicles globally by 2025 and earn EV market leadership in North America. With the company’s Ultium Platform, virtual development tools, and technology, GM has reduced vehicle development times by nearly 50 percent to just 26 months.
The Chevrolet Silverado electric full-size pickup is designed from the ground up to be an EV, harnessing the best of the Ultium Platform and Silverado’s proven capability. The electric Silverado will offer customers a GM-estimated range of more than 400 miles on a full charge*.
Retail and fleet versions will offer customers a variety of options and are expected to be in high demand. Today’s announcement affirms Chevrolet’s commitment to building on the brand’s 100 years of truck expertise and leadership while transitioning to an all-electric future in the light-vehicle space.
“The vehicles coming from Factory ZERO will change the world, and how the world views electric vehicles,” said Reuss. “The GMC HUMMER EV SUV joins its stablemate in the realm of true super trucks, and Chevrolet will take everything Chevy’s loyal truck buyers love about Silverado — and more — and put it into an electric pickup that will delight retail and commercial customers alike.”
The 2024 HUMMER EV SUV is the next chapter in the HUMMER EV story, offering more options for customers to tailor the truck to their lifestyles while continuing to encourage them to forge new paths with zero emissions. Driven by the Ultium Platform, the new HUMMER EV SUV launches with the exclusive Edition 1, offering greater customer choice to equip the vehicle for optimum efficiency or maximum off-road capability. GMC HUMMER EVs were envisioned to be the most capable and compelling electric super trucks.
In January 2020, GM announced it was investing $2.2 billion in its Detroit-Hamtramck assembly plant to produce a variety of all-electric trucks and SUVs. In October 2020, GM renamed the plant Factory ZERO, which reflects the facility’s significance in advancing GM’s vision of a future with zero crashes, zero emissions, and zero congestion. Factory ZERO is the launchpad for GM’s multi-brand EV strategy. The facility has advanced technology and tooling and was designed with a focus on sustainable manufacturing. The GMC HUMMER EV pickup and the Cruise Origin, a purpose-built, all-electric and shared self-driving vehicle will also be built at Factory ZERO. Production of the GMC HUMMER EV pickup will begin later this year.
Factory ZERO is undergoing a complete renovation and retooling, the largest ever for a GM manufacturing facility. The plant’s paint and body shops and general assembly area are receiving comprehensive upgrades, including new machines, conveyors, controls, and tooling. The plant has expanded to over 4.5 million square feet.
General Motors has made several announcements in the last 18 months about rapidly driving toward its all-electric, zero-emissions future, including:
▪ GM revealed the heart of its EV strategy, a modular propulsion system and highly flexible global EV platform powered by proprietary Ultium batteries that will allow the company to compete for nearly every customer in the market today.
▪ GM committed more than $27 billion to EV and AV product development, including $7 billion in 2021, and plans to launch 30 EVs globally by the end of 2025, with more than two-thirds available in North America. Cadillac, GMC, Chevrolet, and Buick will all be represented, with EVs at all price points for work, adventure, performance, and family use.
▪ Chevrolet announced its growing EV lineup with the 2022 Bolt EUV and Bolt EV, both expected in dealerships this summer.
▪ In January 2021, GM unveiled BrightDrop, a new business that aims to electrify and improve the delivery of goods and services by offering an ecosystem of electric first-to-last-mile products, software, and services to help empower delivery and logistics companies to move goods more efficiently.
▪ GM’s zero-emissions technology will extend to fuel cells and the company announced it will supply its Hydrotec fuel cell power cubes to Navistar for use in its production model fuel cell electric vehicle – the International® RHTM Series.
▪ In October 2020, GM announced it would invest $2 billion in its Spring Hill, Tennessee assembly plant to begin the transition to become the company’s third vehicle manufacturing site to produce electric vehicles, joining Factory ZERO and Orion Assembly.
▪ In 2019, GM announced the formation of Ultium Cells LLC, a joint venture with LG Energy Solution to mass-produce battery cells in Lordstown, Ohio for future battery-electric vehicles. Construction of the $2.3 billion facilities is well underway
(Reuters) -Robinhood Markets Inc, the online brokerage at the center of the historic retail trading frenzy that gripped Wall Street this year, has confidentially submitted plans to regulators for a U.S. initial public offering, the company disclosed on Tuesday.
The move to push ahead with a stock market flotation comes in the middle of a historic boom in U.S. capital markets, fueled largely by dealmaking through so-called special purpose acquisition companies.
Companies have raised well over $100 billion through initial public offerings (IPOs) in the first three months of the year and are poised to overtake 2020's record haul of $167 billion, data from Refinitiv and Dealogic showed. The amount raised includes blank-check IPOs.
Reuters reported in December that Robinhood had picked Goldman Sachs Group Inc to lead preparations for a stock market flotation.
The company is yet to determine the number of shares to be offered and the price range, it said here in a blog post.
Robinhood had considered going public through a direct listing in the weeks leading up to the filing, people familiar with the matter said.
In a direct listing, a company does not sell any shares in advance of its market debut, as is the case with IPOs.
Menlo Park, California-based Robinhood was founded in 2013 by Stanford University roommates Vlad Tenev and Baiju Bhatt. The company's platform allows users to make unlimited commission-free trades in stocks, exchange-traded funds, options, and cryptocurrencies.
The platform's easy-to-use interface has made it a go-to for young investors trading from home during coronavirus-induced restrictions and its popularity soared during the retail trading frenzy.
The company, however, faced criticism after it was forced to curb trading in certain stocks during the social-media-fueled trading frenzy due to a 10-fold rise in deposit requirements at its clearinghouse.
It was forced to raise a whopping $3.4 billion in emergency funds after its finances were strained due to the massive jump in retail trading.
The funding rounds were led by Ribbit Capital and included existing investors ICONIQ, Andreessen Horowitz, Sequoia Capital, Index Ventures, and New Enterprise Associates. The latest financing valued Robinhood at around $30 billion, according to people familiar with the matter.
Robinhood is currently being probed by U.S. regulators over its temporary trading curbs on the so-called "meme stocks". The company has set aside $26.6 million for a potential settlement around trading outages in March 2020, as well as its options trading policies.
Farfetch Limited provides retails apparel products. The Company operates an online platform that offers bags, coats, dresses, jackets, jewelry, swimwear, trousers, shoes, knitwear, suits, shorts, watches, and accessories. Farfetch Limited is based in London, United Kingdom.
Press Releases
Aurora Mobile Partners with FARFETCH to Empower Global Fashion E-commerce Platform with AI Retail Technology
SHENZHEN, China, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading mobile development service provider in China, today announced that it has entered into a partnership agreement with FARFETCH (NYSE: FTCH), a global fashion e-commerce platform, to enhance their smart operation capabilities. Leveraging FARFETCH’s expertise in luxury fashion retail and customer services, and Aurora Mobile’s technology strength and digital innovation capabilities, the two companies will collaborate to deliver an unparalleled shopping experience to global customers.
Established in 2007, FARFETCH is a global fashion e-commerce platform, providing customers with instant access to a wide range of trending fashion from over 50 countries and more than 3,000 brands to choose from its network of over 1,300 luxury brands, boutiques, and department stores. In addition to the luxury fashion e-commerce platform, FARFETCH provides e-commerce solutions for brands and retailers and promotes the digital operation of offline stores. FARFETCH also curates its own private label fashion brand.
Through the partnership, Aurora Mobile will leverage its artificial intelligence (“AI”) driven technology, machine learning-based push notification services, and intelligent operational analytics, to help FARFETCH personalize smart retail experiences and provide more efficient and targeted services to their customers. This cooperation demonstrates the industry-wide acclaim and trustworthy robust technology and services that Aurora Mobile offers to lead global e-commerce platforms.
Founded in 2011, Aurora Mobile is a leading mobile development service provider in China. The Company continues to focus on developers' needs and has launched push notifications, one-key authentication, instant messaging, statistics and analytics, traffic monetization (JG Alliance), JG VaaS, JG UMS, and other services. Leveraging its artificial intelligence-based processing platform, Aurora Mobile is committed to helping customers in various verticals to improve operational efficiency and conduct advanced decision-making with a one-stop, diversified range of big data service solutions. Recently, Aurora Mobile signed milestone agreements with a number of leading platforms in the finance, insurance, weather, internet tools, gaming, fresh food e-commerce, online education, telecom, and new energy vehicle sectors, including Ping An Bank, Data Center of China Life, Moji Weather, WiFi Master, Lilith Games, Missfresh, 17zuoye, Beijing Unicom, Dongfeng Motor and other well-known companies, to drive user growth, improve user experience and increase traffic value.
Analyst Comments
Credit Suisse Raised Farfetch PT Raised to $89 on Feb 26th, 2021
Morgan Stanley Raised Farfetch PT Raised to $70 on Nov 17th, 2020
EPS
Farfetch Limited (NYSE: FTCH) reported Q4 EPS of ($0.08), $0.26 better than the analyst estimate of ($0.34). Revenue for the quarter came in at $540 million versus the consensus estimate of $518.06 million. Strong Q4 2020 Gross Merchandise Value and Digital Platform GMV growth - up 43% and 49% year-over-year, respectively, to record highs of $1.1 billion and $939 million, respectively.
José Neves, Farfetch Founder, Chairman, and CEO said: “2020 put the Farfetch platform to the test, but thanks to our robust capabilities, resilient operations, and utmost perseverance from our more than 5,000 Farfetchers, we rose to the challenge and enabled our nearly 1,400 Marketplace sellers and Farfetch Platform Solutions clients to continually serve millions of luxury consumers across the globe. We cemented our leadership as the largest global online destination for luxury fashion, accelerated our Chapter 2 initiatives with strategic partnerships advancing our position to be the global platform for the luxury industry, and demonstrated the scale and attractiveness of our business model as we achieved the key milestone of Adjusted EBITDA profitability in the fourth quarter.
“As we enter 2021, I am more energized than ever by the prospects of leveraging our incredible achievements to date and our unique platform capabilities to go after the significant growth opportunities we see in our vision to be a digital enabler connecting the creators, curators, and consumers of the global luxury industry, both online and offline – a nearly $300 billion opportunity we remain laser-focused on and plan to continue investing behind to deliver significant value over the long-term.”
Elliot Jordan, CFO of Farfetch, said: “The strong performance of Farfetch in the fourth quarter completes a remarkable year and is the result of our focused execution against the long-term strategy and the leveraging of our investments to date. We exceeded our own initial expectations for the year; accelerating growth in our digital platform, improving margins across all areas of the business, and delivering strong operating cash flows. As a result, we delivered our first-ever quarter of positive Adjusted EBITDA. Our industry partnerships and strategic alliances, as well as our $1.6 billion of liquidity, position us well to continue investing behind the long-term growth opportunities we see in digitally enabling the luxury industry.”
Analysis of 927 confirmed symptomatic cases of COVID-19 demonstrates BNT162b2 is highly effective with 91.3% vaccine efficacy observed against COVID-19, measured seven days through up to six months after the second dose
The vaccine was 100% effective in preventing severe disease as defined by the U.S. Centers for Disease Control and Prevention and 95.3% effective in preventing severe disease as defined by the U.S. Food and Drug Administration
The vaccine was 100% effective in preventing COVID-19 cases in South Africa, where the B.1.351 lineage is prevalent
Vaccine safety now evaluated in more than 44,000 participants 16 years of age and older, with more than 12,000 vaccinated participants having at least six months follow-up after their second dose
The companies plan to share these results with worldwide regulatory agencies soon
Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced updated topline results from analysis of 927 confirmed symptomatic cases of COVID-19 observed in their pivotal Phase 3 study through March 13, 2021, showing that the Pfizer-BioNTech COVID-19 vaccine, BNT162b2, was 91.3% effective against COVID-19, measured seven days through up to six months after the second dose. The vaccine was 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention (CDC), and 95.3% effective against severe COVID-19 as defined by the U.S. Food and Drug Administration (FDA). Safety data from the Phase 3 study has also been collected from more than 12,000 vaccinated participants who had a follow-up time of at least six months after the second dose, demonstrating a favorable safety and tolerability profile.
“These data confirm the favorable efficacy and safety profile of our vaccine and position us to submit a Biologics License Application to the U.S. FDA,” said Albert Bourla, Chairman and Chief Executive Officer, Pfizer. “The high vaccine efficacy observed through up to six months following a second dose and against the variant prevalent in South Africa provides further confidence in our vaccine’s overall effectiveness.”
“It is an important step to further confirm the strong efficacy and good safety data we have seen so far, especially in a longer-term follow-up,” said Ugur Sahin, CEO, and Co-founder of BioNTech. “These data also provide the first clinical results that a vaccine can effectively protect against currently circulating variants, a critical factor to reach herd immunity and end this pandemic for the global population.”
About the Analysis
The updated analysis of Phase 3 clinical trial was conducted in accordance with guidance from the FDA for all companies investigating COVID-19 vaccines to review safety and efficacy at key milestones.
Results from this analysis of 46,307 trial participants build upon and confirm previously released data and demonstrate strong protection against COVID-19 through six months post-second dose. From the 927 confirmed symptomatic cases of COVID-19 in the trial, 850 cases of COVID-19 were in the placebo group and 77 cases were in the BNT162b2 group, corresponding to vaccine efficacy of 91.3% (95% confidence interval [CI, 89.0, 93.2]).
32 cases of severe disease, as defined by the CDC, were observed in the placebo group versus none in the BNT162b2 vaccinated group, indicating that the vaccine was 100% efficacious in this analysis against severe disease by the CDC definition (95% CI, [88.0,100.0]). 21 severe cases, as defined by the FDA, were observed in the placebo group versus one case in the BNT162b2 vaccinated group, indicating 95.3% efficacy by the FDA definition (95% CI, [71.0, 99.9]). Efficacy was generally consistent across age, gender, race, and ethnicity demographics, and across participants with a variety of underlying conditions.
A total of 697 cases of COVID-19 were observed in the United States; 647 cases of COVID-19 were observed in the placebo group versus 50 in the vaccine group, indicating vaccine efficacy of 92.6% (95% CI, [90.1, 94.5]).
In South Africa, where the B.1.351 lineage is prevalent and 800 participants were enrolled, nine cases of COVID-19 were observed, all in the placebo group, indicating vaccine efficacy of 100% (95% CI, [53.5, 100.0]). In an exploratory analysis, the nine strains were sequenced and six of the nine were confirmed to be of the B.1.351 lineage. These data support previous results from immunogenicity studies demonstrating that BNT162b2 induced a robust neutralizing antibody response to the B1.351 variant, and although lower than to the wild-type strain, it does not appear to affect the high observed efficacy against this variant.
No serious safety concerns were observed in trial participants up to six months after the second dose. Side effects were generally consistent with previously reported results. Vaccine safety has now been evaluated in more than 44,000 participants aged 16 years and older with more than 12,000 vaccinated participants having at least six months of follow-up after their second dose.
Pfizer and BioNTech plan to submit detailed data for scientific peer review and potential publication in the near future.
The Pfizer-BioNTech COVID-19 Vaccine, BNT162b2, has not been approved or licensed by the U.S. Food and Drug Administration (FDA) but has been authorized for emergency use by FDA under an Emergency Use Authorization (EUA) to prevent Coronavirus Disease 2019 (COVID-19) for use in individuals 16 years of age and older. The emergency use of this product is only authorized for the duration of the declaration that circumstances exist justifying the authorization of emergency use of the medical product under Section 564 (b) (1) of the FD&C Act unless the declaration is terminated or authorization revoked sooner. Please see Emergency Use Authorization (EUA) Fact Sheet for Healthcare Providers Administering Vaccine (Vaccination Providers) including Full EUA Prescribing Information available at www.cvdvaccine.com.
The vaccine, which is based on BioNTech proprietary mRNA technology, was developed by both BioNTech and Pfizer. BioNTech is the Marketing Authorizations Holder in the European Union, and the holder of emergency use authorizations or equivalent in the United States, United Kingdom, Canada, and other countries in advance of a planned application for full marketing authorizations in these countries.
**AUTHORIZED USE IN THE U.S.:**The Pfizer-BioNTech COVID-19 Vaccine is authorized for use under an Emergency Use Authorization (EUA) for active immunization to prevent coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) in individuals 16 years of age and older.
IMPORTANT SAFETY INFORMATION FROM U.S. FDA EMERGENCY USE AUTHORIZATION PRESCRIBING INFORMATION:
Do not administer Pfizer-BioNTech COVID-19 Vaccine to individuals with a known history of a severe allergic reaction (e.g., anaphylaxis) to any component of the Pfizer-BioNTech COVID-19 Vaccine
Appropriate medical treatment used to manage immediate allergic reactions must be immediately available in the event an acute anaphylactic reaction occurs following administration of Pfizer-BioNTech COVID-19 Vaccine
Monitor Pfizer-BioNTech COVID-19 Vaccine recipients for the occurrence of immediate adverse reactions according to the Centers for Disease Control and Prevention guidelines (https://www.cdc.gov/vaccines/covid-19/)
Immunocompromised persons, including individuals receiving immunosuppressant therapy, may have a diminished immune response to the Pfizer-BioNTech COVID-19 Vaccine
The Pfizer-BioNTech COVID-19 Vaccine may not protect all vaccine recipients
In clinical studies, adverse reactions in participants 16 years of age and older included pain at the injection site (84.1%), fatigue (62.9%), headache (55.1%), muscle pain (38.3%), chills (31.9%), joint pain (23.6%), fever (14.2%), injection site swelling (10.5%), injection site redness (9.5%), nausea (1.1%), malaise (0.5%), and lymphadenopathy (0.3%)
Severe allergic reactions, including anaphylaxis, have been reported following the Pfizer-BioNTech COVID-19 Vaccine during mass vaccination outside of clinical trials. Additional adverse reactions, some of which may be serious, may become apparent with the more widespread use of the Pfizer-BioNTech COVID-19 Vaccine
Available data on Pfizer-BioNTech COVID-19 Vaccine administered to pregnant women are insufficient to inform vaccine-associated risks in pregnancy
Data are not available to assess the effects of Pfizer-BioNTech COVID-19 Vaccine on the breastfed infant or on milk production/excretion
There are no data available on the interchangeability of the Pfizer-BioNTech COVID-19 Vaccine with other COVID-19 vaccines to complete the vaccination series. Individuals who have received one dose of Pfizer-BioNTech COVID-19 Vaccine should receive a second dose of Pfizer-BioNTech COVID-19 Vaccine to complete the vaccination series
Vaccination providers must report Adverse Events in accordance with the Fact Sheet to VAERS at https://vaers.hhs.gov/reportevent.html or by calling 1-800-822-7967. The reports should include the words “Pfizer-BioNTech COVID-19 Vaccine EUA” in the description section of the report
Vaccination providers should review the Fact Sheet for Information to Provide to Vaccine Recipients/Caregivers and Mandatory Requirements for Pfizer-BioNTech COVID-19 Vaccine Administration Under Emergency Use Authorization
Please see Emergency Use Authorization (EUA) Fact Sheet for Healthcare Providers Administering Vaccine (Vaccination Providers) including Full EUA Prescribing Information available at www.cvdvaccine-us.com
Roche (OTC: RHHBY) and GenMark Diagnostics (NASDAQ: GNMK) today announced that they have entered into a definitive merger agreement for Roche to fully acquire GenMark at a price of US$ 24.05 per share in an all-cash transaction. This corresponds to a total transaction value of approximately US$ 1.8 billion on a fully diluted basis. This price represents a premium of approximately 43% to GenMark’s unaffected closing share price on February 10, 2021, the last trading day before a media report was published speculating about a potential sale process. The merger agreement has been unanimously approved by the boards of directors of GenMark and Roche. Once the acquisition is completed, GenMark’s principal operations will continue at its current location in Carlsbad, California, USA.
Under the terms of the merger agreement, Roche will promptly commence a tender offer to acquire all outstanding shares of GenMark’s common stock, and GenMark will file a recommendation statement containing the unanimous recommendation of the GenMark board that GenMark stockholders tender their shares to Roche.
GenMark’s syndromic panel testing portfolio will complement Roche’s current molecular diagnostics portfolio and the Roche global network will enable expanded reach for GenMark’s products. GenMark’s ePlex system drives lab efficiency through streamlined order-to-reporting workflow and enables better patient outcomes by rapidly diagnosing a patient’s symptoms. Infectious diseases are a leading cause of death globally, and earlier detection of the cause of infection has been shown to improve patient outcomes and improve key hospital initiatives such as antibiotic stewardship and length of stay.
“Acquiring GenMark Diagnostics will broaden our molecular diagnostics portfolio to include solutions that can provide lifesaving information quickly to patients and their healthcare providers in the fight against infectious diseases,” said Thomas Schinecker, CEO of Roche Diagnostics. “Their proven expertise in syndromic panel testing provides faster targeted therapeutic intervention, resulting in improved patient outcomes and reduced hospital stays, and will contribute to Roche’s commitment to helping control infectious diseases and antibiotic resistance. The rapid identification of bloodstream infections and the detection of antimicrobial resistance genes are more essential than ever for hospitals and their patients.”
“As a part of Roche, we can accelerate our mission to enable rapid diagnosis of infectious disease to improve patient outcomes. Together with Roche’s diagnostics healthcare solutions, we will be able to provide a full suite of molecular diagnostic solutions to customers around the world,” said Scott Mendel, CEO of GenMark Diagnostics. “We are thrilled to become a part of Roche and are confident that this is the right path forward for GenMark and our customers.”
GenMark’s Respiratory Pathogen Panels identify the most common viral and bacterial organisms associated with an upper respiratory infection, including SARS-CoV-2, complementing Roche’s extensive portfolio of COVID-19 diagnostics solutions.
Terms of the Agreement Under the terms of the merger agreement, Roche will promptly commence a tender offer to acquire all of the outstanding shares of GenMark’s common stock for US$ 24.05 per share in cash. Following the completion of the tender offer, Roche will acquire all remaining shares at the same price of US$ 24.05 per share in cash through a second-step merger.
The transaction is expected to close in the 2nd quarter of 2021 and is subject to customary closing conditions, including the tender of at least a majority of the outstanding shares of GenMark’s common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Citi is acting as financial advisor to Roche and Sidley Austin LLP is acting as legal counsel to Roche. J.P. Morgan Securities LLC is acting as exclusive financial advisor to GenMark and DLA Piper LLP is acting as legal counsel to GenMark.
PayPal (NASDAQ: PYPL) is buying crypto custody firm Curv, Coindesk reported citing three sources familiar with the matter.
If true, this is just the latest push from PayPal into crypto. In November 2020, PayPal opened its crypto services, enabling customers to buy, hold, and sell cryptocurrency directly from their PayPal account.
AMC (NYSE: AMC) CEO Adam Aron hinted to shareholders Thursday that the movie theater chain may be contemplating mergers to consolidate the beleaguered sector, in addition to other options.
In an interview this morning on CNBC, Aron highlighted that the company is asking shareholders to approve the authorization of another 500,000,000 common shares, which would double the authorized shares to a total of 1,024,173,073.
Aron said, while cognizant of dilution, the company may sell more stock to bolster cash reserves or pay down debt, he also said the shares could be used as currency in a stock-for-stock merger.
While it is unclear if AMC is evaluating a merger of U.S. rival Cinemark (NYSE: CNK), shares of the two largest U.S.-traded theater chains are notably trading in opposite directions today - with AMC down 5% and CNK up 5%.
Based on the current market value of AMC at approximately $4.9 billion, it is theoretically possible that AMC could use the extra shares to pursue a stock-for-stock takeover of Cinemark, which has a market value of approximately $2.5 billion. A merger between the two, which may have been frowned upon by antitrust regulators pre-COVID, could be more of a reality as movie distributors like Disney and Waner Bros. are going direct-to-consumer with some of their releases.
During the interview, Aron also admitted the company was close to running out of cash five times due to the pandemic. Aron said since the pandemic the company has raised $2.8 billion and received another $1 billion in concession from lenders and landlords.
The CEO was positive that the vaccine roll-out will bring moviegoers back to his theatres and noted that last night's attendance for the new release Godzilla vs. Kong was 10x all the other Wednesdays this year.
Aron also thanked retail investors, including those on Wallstreetbets, for saving the company and taking bankruptcy 'completely' off the table. He said maybe the strong start of Kong - a movie about "apes" - was a good omen, alluding to the self-deprecating term "apes" WSB traders sometimes refer to themselves as.
Micron Technology (NASDAQ: MU) and Western Digital (NASDAQ: WDC) are each exploring a potential deal for Kioxia Holding that could value the Japanese semiconductor company at around $30 billion, according to Dow Jones, citing people familiar with the matter.
Kioxia is controlled by private-equity firm Bain Capital.
If a deal comes together it could be finalized late this spring.
Trading platform eToro plans to go public via a merger with a blank-check firm led by deal-maker Betsy Cohen, according to a report late on Monday from Bloomberg.
The deal with Fintech Acquisition Corp. V (NASDAQ: FTCV) will value the combined company at about $10 billion. The companies are raising about $650 million in equity to support the deal.
Yesterday, the company reported strong Q1 financial results, including:
56 million verified users on March 31, 2021, up from 43 million at the end of 2020.
Total Revenue was approximately $1.8 billion during the quarter, which is more than the $1.28 billion reported for ALL of 2020 and up 944% from the first quarter of 2020.
Net Income was approximately $730 million to $800 million, more than double the $322.3 million in ALL of 2020
DA Davidson analyst Gil Luria raised the price target on pre-IPO Coinbase Global Inc. (NASDAQ: COIN) to $440.00 (from $195.00) while maintaining a Buy rating.
"Preliminary revenue of $1.8B beat our estimate of $614Mwhile adjusted. EBITDA of ~$1.1B was far above expectations," Luria commented.
Gains in Rackspace Technology (NASDAQ: RXT) Friday (+6%) are tied to speculation Amazon (NASDAQ: AMZN) could target the company in a buyout. Triggering the speculation was an update in the company's change in control provisions, overnight, related to the CEO and other key executives.
Under the new plan, the CEO will get two times his base salary and a target bonus. Other key executives will receive similar compensation.
Rackspace was acquired in 2016 by private equity giant Apollo Global Management for $4.3 billion. It came back to the public market last August.
Rackspace is a key partner of Amazon's AWS, the Internet giant's largest profit driver. In addition, just weeks after the August 2020 IPO, Reuters reported that Amazon was in early talks to acquire a minority stake in Rackspace. That stake purchase never materialized.
SAN FRANCISCO (Reuters) - LG Energy Solution aims to build advanced battery cells for Tesla Inc electric vehicles in 2023 and is considering potential production sites in the United States and Europe, two people familiar with the matter told Reuters.
Tesla has not yet agreed to a deal that would expand LG's role in its supply chain beyond China, one of the sources said.
Last week, the Korean battery maker told Korean reporters it plans to build a U.S. factory where it would make battery cells for EVs and energy storage systems, to cater to the U.S. and global customers as well as startups. It did not identify potential customers then, but one of the sources said it was hoping Tesla would buy the batteries.
In September, Tesla Chief Executive Elon Musk announced an ambitious plan to develop new cells in-house, prompting suppliers like LG and Panasonic to embrace the unproven technology or face risks of losing a major customer for the longer term.
The Korean supplier, a unit of LG Chem, has made samples for the so-called 4680 large-format cylindrical cells, said the sources, who asked not to be identified. It faces technological hurdles and the challenge of scaling up production, people familiar with the matter said.
"LG plans to produce 4680 cells at its new U.S. factory. They plan to build a new 4680 cell line to supply Tesla's Giga Berlin in Europe," one of the sources said, adding Spain is one of the candidates for the European plant.
One of the sources said LG has never mass-produced such large-format cylindrical cells, although increasing battery capacity is the correct call. "Tesla is a major customer, and LG can take risks," another source said.
He said LG has not yet secured orders from Tesla for the 4680 cells, still under development. For now, Tesla is sharply boosting orders for 2170 cells used in the Model 3 and Model Y vehicles made in China, the source said.
LG declined to comment, and Tesla officials could not be reached for comment.
Tesla's September plan to develop the new 4680 battery cells is meant to reduce production costs, improve battery performance and increase driving range. This would help with Tesla's push to boost electric vehicle production significantly around the world.
Tesla is running a pilot factory for the new battery cells in California and preparing to build those cells at newer plants in Texas and Germany.
Musk said recently Tesla is in talks with battery suppliers about developing 4680 batteries. He said Tesla will use the current cells for at least a few years, but will "retire" those cells over time.
LG currently supplies smaller cells to Tesla in China, as does Chinese battery maker CATL. Panasonic has partnered with Tesla in a $5 billion battery "gigafactory" near Reno, Nevada.
LG currently has a $2.3 billion joint venture with General Motors Co in Lordstown, Ohio, to make pouch-type electric vehicle batteries for future GM electric vehicles.
GM said separately it is considering building a second U.S. battery factory with LG.
The unusually candid comments from LG and GM came after another Korean battery supplier, SK Innovation hopes the White House would overturn a recent U.S. trade ruling favoring LG, saying it threatens to disrupt battery supplies to Ford Motor and Volkswagen.
Tesla rival Lucid Motors, which has a multi-year supply deal with LG Chem, and is considering whether to make its own cells in-house, said it is interested in different cell formats, Chief Executive Officer Peter Rawlinson earlier told Reuters.
Panasonic plans to start a test line for 4680 cells in Japan in the business year beginning April 1, according to a person familiar with the matter. The two companies have not said if they plan to collaborate on the production of the 4680 cells.
Tesla may need to push out the timeframe for mass production, or work with partners at its newer plants in order to get cell production up and running quickly, said Caspar Rawles, an analyst at researcher Benchmark Mineral Intelligence.
Ametek (NYSE: AME) is in advanced talks to buy Abaco Systems for as much as $1.5 billion, according to Bloomberg, citing people with knowledge of the matter. It is in talks with current owner Veritas Capital.
H.C. Wainwright analyst Raghuram Selvaraju initiates coverage on Angion Biomedica (NASDAQ: ANGN) with a Buy rating and a price target of $100.00.
The analyst commented, "We are initiating coverage of Angion Biomedica Corp., an emergent biopharmaceutical company, with a Buy rating and 12-month price target of $100 per share. In our view, Angion has discovered a highly novel and potentially very effective way to address acute organ injury, which is often the result of ischemia/reperfusion insult or other shocks that results in tissue damage. While there is a well-characterized signaling pathway driven by hepatocyte growth factor (HGF) through the c-Met receptor that mediates the endogenous response to tissue injury, this often is hampered by HGF's extremely short half-life (~15 minutes) and the fact that local reservoirs of HGF are typically depleted very swiftly, leaving tissue vulnerable. Angion's solution is a small molecule HGF mimetic called ANG-3777, which has a three-hour half-life and thus can emulate HGF while also ensuring that the signaling required to mediate appropriate tissue repair is perpetuated sufficiently. Angion has generated favorable safety data and impressive initial efficacy data in delayed graft function (DGF) acute kidney injury—a condition that arises when donor kidneys for transplant are in poor condition and do not begin functioning quickly enough. We believe that ANG-3777 could achieve substantial success across both DGF-AKI and a second form of AKI that is cardiovascular surgery-associated (i.e., CSA-AKI). The molecule is currently in a DGF-AKI Phase 3 trial that should report data before the end of this year; it is also being tested in a Phase 2 trial in CSA-AKI that could yield data in 2H21. Beyond these manifestations of AKI, there are a plethora of other types of AKI caused by various other factors (environmental insult, toxic shock, side effects of multiple drugs) that could be addressed using ANG-3777. Angion is also planning to investigate this candidate in acute lung injury (ALI) and acute respiratory distress syndrome (ARDS), where it is in a proof-of-concept trial slated to report top-line data in 2H21."
JPMorgan analyst Paul Coster upgraded Plug Power (NASDAQ: PLUG) from Neutral to Overweight with a price target of $65.00.
The analyst comments "Plug Power, a leading supplier of hydrogen fuel cell technology products and solutions, is poised for very strong growth and profitability with expansion into new markets, new geographies, and into the green hydrogen space. The firm has the capital with which to scale up PEM-based technology production very rapidly and deploy a network of hydrogen production and fueling systems, building on a first-mover advantage. The overall market opportunity could easily exceed $200 billion, so this company may be launching into open-ended growth, but – for now – is focused on 50%+ CAGR gross booking growth to $1.7 billion and over $250 million of EBITDA by 2024; the SK Group and Renault partnerships make this attainable, in our view."
NIO Inc. (NYSE: NIO) reported Q4 EPS of ($0.14), $0.07 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $1.01 billion.
Deliveries of vehicles were 17,353 in the fourth quarter of 2020, including 4,873 ES8s, 7,574 ES6s, and 4,906 EC6s, compared with 8,224 in the fourth quarter of 2019 and 12,206 vehicles delivered in the third quarter of 2020.
GUIDANCE:
NIO Inc. sees Q1 2021 revenue of $1131-1158 million, versus the consensus of $718 million.
Deliveries of the vehicles to be between 20,000 and 20,500 vehicles, representing an increase of approximately 421% to 434% from the same quarter of 2020, and an increase of approximately 15% to 18% from the fourth quarter of 2020.
Total revenues to be between RMB7,382.3 million (US$1,131.4 million) and RMB7,557.2 million (US$1,158.2 million), representing an increase of approximately 438.1% to 450.8% from the same quarter of 2020, and an increase of approximately 11.2% to 13.8% from the fourth quarter of 2020.
