This marks the third collaboration for the OBDS, further demonstrating the interest of the industry in the oral delivery of large molecules. Progenity ( PROG -0.85%), a biotech company and a meme stock favorite, saw its shares decline more than 11% on Wednesday. The products discussed herein may have different labeling in different countries. Just to recap, Progenity conducted its initial public offering (IPO) on June 22, 2020. Just to recap, Progenity conducted its initial public offering (IPO) on June 22, 2020. "The Pfizer patent application approved, August 31st, 2021, is the very first patent that shows up in a list of over 18,500 for the purpose of remote contact tracing of Rather, theyre debating the short-squeeze potential. NRx Partners With Mannkind to Develop 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. Orbital Infrastructure Group, Inc. ( NASDAQ:OIG Get Rating) fell 7.1% on Friday . Type a symbol or company name. 11,112,403 for assessment of preeclampsia using assays for free and dissociated placental growth factor. Now, preeclampsia is a common disease associated with pregnancy where the patient suffers from high blood pressure and protein build-up in the urine. As a result, the stock looks extremely speculative here, as the company is likely headed towards failure unless one of its products under development can succeed, in which case it could richly reward investors from here. Fourth Quarter and Full Year 2021 Financial Results, Comparison of Three Months Ended December 31, 2021 and September 30, 2021. Progyny fits seamlessly into your companys existing benefit ecosystem, providing comprehensive coverage for fertility and family ET PROG earnings call for the period ending December 31, 2020. In this context, operating expenses (excluding stock-based compensation expenses) were $32.7 million in Q3, representing a $9 million favorable variance compared to the previous guidance. 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. However, despite losses, the company is moving forward with operations. In this respect, the third quarter's financials were pivotal to the transformation strategy as it translated into a reduction in operational expenses as planned. 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. The Pfizer/BioNTech vaccine development program is evaluating at least four experimental vaccines, each of which represents a unique combination of messenger RNA (mRNA) format and target antigen. Lorazepam and diazepam are controlled substances used as anti-anxiety medications. For this purpose, I regularly contribute peer reviews and opinions for enterprise tech and help needy families by providing sponsored work.As for Research, I started with Tech stocks before going Multi-Tech with Fintechs, Biotechs, and Cryptotechs.I have been investing for the last 25 years, initially in mutual funds where the "learned economists" would always advise you to "think long term". If you have an ad-blocker enabled you may be blocked from proceeding. However, the stock is also subject to volatility risks as past performance shows it fluctuating amid "social media buzz". Local reactions and systemic events were dose-dependent, generally mild to moderate, and transient. Thats definitely a red flag when the stock price is less than $4. This informationincluding product informationis intended only for residents of the United States. (Note: You may have to copy this link into your browser then press the [ENTER] key.). WebBuild a better benefits package with Progyny. Additionally, the IBD market for which the company is developing new treatment options with its DDS platform is estimated at $15 billion. Disclosure: At the time of publication, Samuel Smith did not have a position in any of the securities mentioned in this article. Progenity is a California-based biotech specializing in precision medicine through in vitro molecular tests to provide patients with actionable information for ATS Farma Zoekopdracht uitbreiden. Progenity, Inc. Market Cap $30M Today's Change (-1.83%) -$0.06 Current Price $3.22 Price as of February 17, 2023, 4:00 p.m. 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. Now, there are diagnostics already available for the disease, but these include a battery of tests. At the time of writing, nearly three times the average daily number For the third quarter 2021, Progenity reported revenues of $182,000, showing significant improvement since the same period last year, when revenues stood at $56,000. 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. 28 Feb 2023 10:51:55 On top of that, the company trades for 40 times forward sales, which seems like a very lofty multiple. News provided by InvestorsObserver Oct 25, 2021, 09:31 ET NEW YORK, Oct. 25, PROG stock is very difficult to value, due to the fact that its revenues are declining rapidly and it is running up steep losses. When typing in this field, a list of search results will appear and be automatically updated as you type. In addition to optimizing the capital structure by reducing the debt level, the company has also issued patents to protect the fruit of its R&D activities. 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View source version on businesswire.com: https://www.businesswire.com/news/home/20200722005438/en/, Pfizer: Media Relations WebProgenitys Compliance Program including the performance of the Compliance Officer and the Compliance Committee. pharma, like those it is partnering with. TipRanks->. Any forward-looking statements in this press release are based on BioNTech current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. With its oral delivery mechanism, Gastrointestinal targeted therapies, and women's health tests, the company has potential despite generating meager revenues. This past year has unquestionably placed unprecedented demand on the drug supply chain, particularly for drugs used during mechanical ventilation of COVID-19 patients, said Premiers President, Michael J. Alkire. Written by The company traded as low as $0.14 and last traded at $0.15. Join Caroline Roan, Senior VP, @pfizer and a host of other experts to discuss this & more at #AHAIC2023. The company generated $74.3 million in revenues during the year ended December 31, 2020, of which $74.2 million were generated from discontinued operations. Further data from the ongoing Phase 1/2 clinical trials of the four vaccine candidates will enable the selection of a lead candidate and dose level for an anticipated large, global Phase 2b/3 safety and efficacy study that may begin as early as later this month, pending regulatory approval. Pornpak Khunatorn/iStock via Getty Images. In addition, a recent study in the IBD Partners research network identified that urgency was associated with an increased risk of hospitalization, corticosteroid use, and colectomy. The financial details of the deal with Codex, which include an upfront payment along with success-based milestone payments, were not disclosed. A live webcast and archive of the call will be available online from the investor relations section of the company website at www.progenity.com. WebValorisation Recherche Hscm, Limited Partnership: Progenity, Inc. Forward-Looking Statements This designation was granted based on preliminary data from Phase 1/2 studies that are currently ongoing in the United States and Germany as well as animal immunogenicity studies. Comparison of Full Year Ended December 31, 2021 and 2020. Progenity continued its downward slide in early 2021, falling below $2 during the sweltering summer. 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. Strengthened the management team and Board of Directors with the appointment of Adi Mohanty as CEO and member of the Board of Directors, and the appointment of Jill Howe as a member of the Board of Directors and chair of the Audit Committee. 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 $23.0 million and net loss per share for discontinued operations of $0.47 for the three months ended December 31, 2020. 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. Beam is a highly promising biotech For more information, visit www.progenity.com or follow the company on LinkedIn or Twitter. 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) * I have no business relationship with any company whose stock is mentioned in this article. Progenity takes a multi-omics approach, using a combination of genomics, epigenomics, proteomics and metabolomics to improve disease diagnosis. Fourth Quarter 2021 Results and Other Recent Corporate Highlights. With its therapeutics pipeline mostly at the discovery, preclinical, and early clinical stage, do not expect consistent revenues for Progenity (NASDAQ:PROG) unless the company is able to license its technology to some large pharma, like those it is partnering with. 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. Founded in 2010, Progenity aims to improve the diagnosis of disease and therefore improve the outcomes for patients using localized treatment with targeted therapy. Naar hoofdcontent gaan LinkedIn. Progenity has two therapeutics programs namely oral delivery of biotherapeutics and GI-targeted therapeutics. First, looking at TFFP, the global market for inhalable drugs is predicted to be worth around $40 billion by 2028. Progenity's ingestible capsules have attracted the attention of Ionis Pharmaceuticals (IONS), with its novel antisense therapies designed to target mRNA in a highly specific manner. BioNTech is the market authorization holder worldwide and will hold all trademarks for the potential product. We are pleased to have signed this important agreement with the U.S. government to supply the initial 100 million doses upon approval as part of our commitment to address the global health threat. NEW YORK & MAINZ, Germany--(BUSINESS WIRE)-- Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) today announced the execution of an agreement with the U.S. Department of Health and Human Services and the Department of Defense to meet the U.S. governments Operation Warp Speed program goal to begin delivering 300 million doses of a vaccine for COVID-19 in 2021. 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) * Progenity is a biotech company focused on the disciplines of womens health, gastrointestinal (GI) and oral biotherapuetics. The early data demonstrates that BNT162b1 is able to produce neutralizing antibodies in humans at or above the levels observed in the plasma from patients who have recovered from COVID-19, and this was shown at relatively low dose levels. It trades at about $3.40 today. 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. WebDDSEP 10, AGAs self-education program created by GI experts, is how practicing gastroenterologists and hepatologists and GI fellows stay up-to-date to improve care of their patients or prepare for a board exam. The program has also ensured an adequate safety stock of medicines and has successfully protected supply even as demand surged more than 150 percent during the COVID-19 pandemic. On the date of publication, David Moadeldid not have (either directly or indirectly) any positions in the securities mentioned in this article. Written by 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. The Pfizer agreement comes less than a week after Tempus announced a partnership with Actuate Therapeutics to discover biomarkers of response to a cancer drug. Completed the sale of its Avero affiliate and ended the year with an improved liquidity position heading into 2022. Both of these have multiple studies ongoing, having reached the preclinical stage in the third quarter of 2021. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Chuck Triano The executives also remain confident that total operating expenses (again before stock-based compensation) will reach less than $25 million in the fourth quarter (chart below), as Progenity completes the cost reduction exercise associated with its lab operation. Its not psychologically easy to invest in a stock thats been trending downward. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. WebGameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. SELLAS Life Sciences Group Stock Down 53.7 %. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Therefore, if you keep your position size small and can handle the volatility, a stake in Progenity could be your next big winner. +1 (212) 733-3901[emailprotected] BioNTech: In the same way, Progenity has entered into additional partnerships with two large pharmaceutical plays to evaluate their therapeutic with the OBDS. As a result, there was a lot of volatility and the stock slid and is now at the $2.5 level. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. As the company points out, the addressable market for GI-targeted topical inflammatory bowel disease (IBD) therapeutic delivery exceeds $15 billion. In addition to engagements with governments, Pfizer and BioNTech have provided an expression of interest for possible supply to the COVAX Facility, a mechanism established by Gavi, the Vaccine Alliance, the Coalition for Epidemic Preparedness Innovations (CEPI) and World Health Organization (WHO) that aims to provide governments with early access to a large portfolio of COVID-19 candidate vaccines using a range of technology platforms, produced by multiple manufacturers across the world. March 1, 2023. The company generated $60.6 million in revenues during the year ended December 31, 2021, of which $59.4 million were generated from discontinued operations. Investors are kindly requested to do additional research before investing. As part of the deal, the financial details of which were not disclosed, Pfizer has the option of licensing the technology for up to ten vaccines or therapies. Since then I do my own research and have fallen in love with Seeking Alpha because of the unique perspectives it provides to someone investing hard-earned money as well as access to some of the best financial advisors.We live only once but can have many "investment lives" especially when investing in individual stocks. (Photo credit: Getty Images). I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Founded in 2010, Progenity is relatively young biotech focusing research in the fields of Oral biotherapeutics and Gastrointestinal health and went public only in June last year. March 1, 2023. Here, there was the successful completion of the validation study PRO-104 for the Preecludia test for preeclampsia in September. Our partnership with Pfizer will help ensure a sustainable supply of five drugs that are essential not just during the pandemic, but also for routine and elective care longer term.. The 0.9 percent sodium chloride injection is used to dilute other medications before injection. This makes sense as research implies a long lead time from discovery to commercialization. A Closer Look at PROG Stock Going back to the beginning, Progenity conducted its initial public offering (IPO) on June 22, 2020. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments. The information contained in this release is as of July 22, 2020. Recent Partnership Press Releases Using Viruses to Fight Cancer: A New Approach to Treating Solid Tumors Today, more people are surviving cancer than ever before, thanks to The company generated $7.7 million in revenues during the fourth quarter, out of which $7.2 million came from discontinued operations. No serious adverse events were reported. For this purpose, I am not a classical equity researcher or fund manager, but, I come from the IT world as the founder ofKeylogin Information and Technologies Co. Ltd.Thus, my research is often backed by analytics and I make frequent use of charts to support my position.I also invest, and thus, in this tumultuous market, I often look for strategies to preserve capital.As per my career history below, I have wide experience, initially as an implementer in virtualization and cloud, and I was subsequently a team leader and project lead, mostly working in telcos.I have also been a mediocre entrepreneur in real estate, and a farmer, and like to dedicate at least 5 hours per week to working on a non-profit basis. 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. If the ongoing studies are successful, Pfizer and BioNTech expect to be ready to seek Emergency Use Authorization or some form of regulatory approval as early as October 2020. Revolutionizing drug discovery. At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. 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. WebOn the OBDS front, Progenity is already partnering with three drug makers, including at least one major pharmaceutical company, with which it established an alliance in the Progenity's Oral Biotherapeutic Delivery System is an ingestible capsule that can be swallowed to deliver large molecules, including monoclonal antibodies, peptides, Progenity also designed the first blood test designed to assess risk involved in preeclampsia, with a validation study manuscript submitted, and was awarded a patent for one of the key assays. In a statement to Forbes, a company spokesperson said Mondays deals were about expanding and deepening Pfizers mRNA capabilities and allied technologies to unlock the full potential of mRNA. The company is focusing its mRNA strategy on four key areas: continuing research into its Covid-19 vaccine; building its infectious disease mRNA vaccine pipeline; expanding mRNA research into new therapeutic areas including rare diseases and cancer; and investing in applying mRNA technology to other areas in need of innovation. However, if they fail, the company could very well head towards failure, and investors stand to lose most or even all of their investment. Just recently, the company made significant headway in this area as the United States Patent and Trademark Office (USPTO) issued several patents related to Progenitys ingestible technologies for the GI-delivered therapeutics. 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. In March, the artificial intelligence startup Iktos announced it would be collaborating with Pfizer to discover the small molecules that are This Startup Might Finally Cure Sickle Cell DiseaseAfter A Century Of Racist Neglect (Forbes), This Gene Editing Startup Raised $315 Million For A Next Generation Crispr Tool To Cure Rare Diseases (Forbes), Full coverage and live updates on the Coronavirus, This is a BETA experience. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost. 11:15 am. The patent for Progenity is for its assessment of SVB Securities analyst Andrew Berens said Pfizer could divest the bladder cancer therapy Padcev, to avoid anti-trust scrutiny. Please disable your ad-blocker and refresh. It then acquired Bamboo 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/. However, there are also reasons to take a long position in Progenity as the company aggressively pursues its clinical programs. Shares climbed from $0.66 to Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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. This marks the For example, PGN-001 (colon-targeted adalimumab) and PGN-600 (colon-targeted tofacitinib) target ulcerative colitis. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Progenity (NASDAQ: PROG) stock is taking off on Tuesday after the company revealed a new patent granted to it. We are honored to be a part of this effort to provide Americans access to protection from this deadly virus., Expanding Operation Warp Speeds diverse portfolio by adding a vaccine from Pfizer and BioNTech increases the odds that we will have a safe, effective vaccine as soon as the end of this year, said HHS Secretary Alex Azar. In the same way, Progenity has entered into additional partnerships with two large pharmaceutical plays to evaluate their therapeutic with the OBDS. This release contains forward-looking information about Pfizers efforts to combat COVID-19, the BNT162 mRNA vaccine program, a collaboration between BioNTech and Pfizer to develop a potential COVID-19 vaccine, an agreement with the United States to manufacture and deliver BNT162 and other potential agreements, including their potential benefits, manufacturing and distribution and the expected timing of clinical trials and regulatory submissions, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In some cases, you can identify forward-looking statements by terms such as may, might, will, objective, intend, should, could, can, would, expect, believe, design, estimate, predict, potential, plan or the negative of these terms, and similar expressions intended to identify forward-looking statements. However, as part of shifting away from molecular testing operations to a development stage biotherapeutics play, there is less emphasis on the revenue generation factor, and, instead, concentrate on managing cash burn and optimizing capital allocation to the innovation pipeline. The market reacted adversely to both news and the stock reached a low of around $1-1.5. Disclaimer:The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates Read full disclaimer >.