Q3 2018 Record Billings of $6.3 Million, Up 210% Year over Year and Up 21% from Q2
Q3 2018 Record GAAP Revenue of $4.4 Million, Up 266% Year over Year and up 33% from Q2
Reiterates 2018 Billings Guidance of $20.0 Million
Company Issues 2019 GAAP Revenue Guidance of $35 Million
Company to Host Conference Call at 4:30 pm ET Today
Key Quote: “Billings for the third quarter of 2018 were in line with our expectations, given our strong performance in July. ... With our continued success in expanding relationships with existing health plan partners and launching enrollment with new customers in the first nine months of 2018, we have achieved $14.5 million in billings for the period and are on track to achieve our previously provided guidance of $20.0 million in annual billings for 2018.” Mr. Terren Peizer, Chairman and CEO of Catasys (NASDAQ: CATS)
The Backstory: Catasys’s OnTrak solution improves member health while reducing inpatient and emergency-room utilization, driving a reduction of more than 50% in enrolled health insurers’ costs. OnTrak is currently available in 22 states to members of several leading health plans, including six of the nation’s largest plans. Company’s billings increased 210% to $6.3 million and GAAP revenues increased 266% to $4.4 million in 3Q18. Going forward, the Company reiterates 2018 billing guidance of $20 million and has provided revenue guidance of $35 million for FY19.
Disclosure
Catasys (NASDAQ: CATS) is a client of RedChip Companies, Inc. CATS agreed to pay RedChip Companies, Inc. a monthly cash fee for RedChip investor awareness services and consulting services.
Following the definitive merger agreement with Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX) announced June 28, 2018, Akebia (NASDAQ: AKBA) has been actively engaged in integration planning and expects to close the transaction by the end of 2018
Akebia continued to enroll subjects in its Phase 3 INNO2VATE program, with top-line results expected in the first quarter of 2020, subject to the accrual of major adverse cardiovascular events (MACE). U.S. enrollment in the Phase 3 INNO2VATE Conversion study completed last quarter, as announced in Akebia’s second quarter 2018 earnings press release
Akebia continued to enroll subjects in its Phase 3 PRO2TECT program, with top-line results anticipated in mid-2020, subject to the accrual of MACE
Collaboration revenue was $53.2 million for the third quarter of 2018 compared to $41.3 million for the third quarter of 2017
Key Quote: “In the third quarter, we continued to drive our vadadustat Phase 3 development program, while working diligently to close our proposed merger transaction with Keryx Biopharmaceuticals by the end of 2018.” John P. Butler, President and Chief Executive Officer of Akebia Therapeutics
The Backstory: Akebia Therapeutics, Inc. is a biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on delivering innovative therapies to patients with kidney disease through hypoxia-inducible factor biology. For more information, please visit our website at www.akebia.com, which does not form a part of this release.
Stocks continued the downward spiral from last week and fell sharply on Monday as the biggest and most popular tech stock plunged.
Most importantly, “FAANG” stocks are now in a bear market, with each stock down more than 20% YoY. Rising interest rates continue to be of concern for investors, as market participants seek to divine the pace of Federal Reserve interest-rate hikes in 2019 after next month’s meeting, where the FOMC is widely expected to raise the federal-funds rate by 25 basis points.
Investors are anxious following a negative confidence in the home builder report. Also, trade issues have contributed to much of the volatility in the markets. Investors hope that the current tariffs on trade will be resolved at the Buenos Aires summit, where President Trump and Chinese President Xi Jinping will meet.
Mirati Therapeutics, Inc. (NASDAQ: MRTX), a clinical-stage targeted oncology company, announced dosing of the first patient under its collaboration agreement with BeiGene, Ltd. (NASDAQ: BGNE; HKEX: 06160) in a Phase 1b clinical trial to assess the safety and tolerability, pharmacokinetics, and preliminary anti-tumor activity of Mirati's sitravatinib in combination with BeiGene's investigational anti-PD1 antibody, tislelizumab, in patients with advanced solid tumors.
Key Quote: “We're excited to move into the next phase of our collaboration with BeiGene. BeiGene's ability to rapidly enroll patients into this clinical trial has the potential to significantly expand and accelerate our development efforts for sitravatinib and provide access to additional patient populations." Charles Baum, M.D., Ph.D., President and Chief Executive Officer of Mirati
The Backstory: Mirati Therapeutics, Inc. is a clinical-stage oncology company developing product candidates to address the genetic, epigenetic and immunological promoters of cancer. Our precision oncology clinical programs utilize next-generation genomic testing to identify and select cancer patients who we believe would be most likely to benefit from targeted drug treatment. In immuno-oncology, we are advancing clinical programs where our product candidates have the potential to improve the immune environment of tumor cells and may enhance and expand the efficacy of existing cancer immunotherapy medicines when given in combination. Our pre-clinical programs include potentially first-in-class and best-in-class product candidates specifically designed to address mutations and tumors where few treatment options exist. We approach each of our discovery and development programs with a singular focus: to translate our deep understanding of the molecular drivers of cancer into better therapies and better outcomes for patients. For more information, visit www.mirati.com.
Bitcoin hit a new low on Monday as the world’s largest cryptocurrency dropped to its lowest level in more than a year.
"The next logical level of support is at $5,000 but if that doesn't hold, the next logical support level isn't until $3,500," eToro analyst Mati Greenspan said in a note to clients Monday
Analysts attributed bitcoin's continued sell-off to technical levels and stop orders in the market kicking in after bitcoin fell below $6,000.
LogicBio Therapeutics, Inc. (NASDAQ: LOGC), a genome editing company focused on developing medicines to durably treat rare diseases, announced the launch of a partnership to develop new viral vectors with Children’s Medical Research Institute (CMRI) of Australia, a world leader in the areas of gene therapy, childhood cancer, embryology and neurological diseases.
Key Quote: “We’re optimistic that we can significantly improve the performance of AAV vectors through this collaboration.” Fred Chereau, CEO of LogicBio
CMRI and its clinical partner, SCHN, have long contributed to pioneering work in the clinical translation of cell and gene therapies, including being the first in Australia to treat a genetic disease (SCID-X1) by gene therapy.
The Backstory: LogicBio Therapeutics is a genome editing company focused on developing medicines to durably treat rare diseases in patients with significant unmet medical needs using GeneRide™, its proprietary technology platform. GeneRide™ enables the site-specific integration of a therapeutic transgene in a nuclease-free and promoterless approach by relying on the native process of homologous recombination to drive lifelong expression. Headquartered in Cambridge, Mass., LogicBio is committed to developing medicines that will transform the lives of pediatric patients and their families.
Taitron Components Incorporated (NASDAQ: TAIT) today announced that its Board of Directors has declared a quarterly cash dividend of $0.03 per share of common stock, payable on November 30, 2018 to stockholders of record as of the close of business on November 15, 2018. Under our revised dividend policy, the Company will now target a cash dividend to our stockholders in the amount of $0.12 per share per annum, payable in equal $0.03 per share quarterly installments.
This effectively increases by 20% quarterly cash dividends from $0.025 per share to $0.03 per share.
The Backstory: Taitron, based in Valencia, California, is the "Discrete Components Superstore." The Company distributes a wide variety of transistors, diodes and other discrete semiconductors, optoelectronic devices and passive components to electronic distributors, contract electronic manufacturers (CEMs) and original equipment manufacturers (OEMs), who incorporate them into their products. In addition, Taitron provides value-added engineering and turn-key services for our existing OEM and CEM customers and provides them with original design and manufacturing services for their multi-year turn-key projects.
Santa Fe Gold Corporation OTC (OTCQB: SFEG), a U.S. based mining company and owner of multiple mining claims, announced that it entered into a letter of intent to acquire two permitted mines. The agreement contains an exclusivity provision through December 31, 2018 for the purpose of allowing the parties time to finalize due diligence and complete acquisition of mine assets. The Company believes that it has agreed upon the economic terms of the transaction and, pending satisfactory due diligence and the procurement of at least $500,000 of financing, expects to enter into final documentation with the seller during calendar 2018. The Company will announce the closing of this transaction through a press release and Form 8-K, should such closing occur.
Key Quote: “We are very pleased with this exciting transaction as this is an important first step of our planned strategy to achieve near term production. While there can be no assurance that the acquisition will be completed, we expect to close the acquisition as we believe the material terms have been agreed upon, due diligence has commenced, and we should be able to procure at least $500,000 to fund the initial payments that are currently contemplated to be due in calendar 2018. We believe potential upside to this acquisition includes the fact that we should be able to enter into a contract arrangement to commence mining operations with an experienced mining crew that is familiar with this property and we expect that the ore can be shipped directly to smelters, without the need for processing plants, significant infrastructure or major capital investment. We are also pleased to announce the appointment of highly experienced Daniel E Gorski as consulting geologist to oversee our proposed mining operations and resource development. We paid $200,000 in October 2018 with respect to the Alhambra Mine acquisition and owe a balance of approximately $350,000 in calendar 2018 to complete the purchase. We intend to bring our SEC filings current and into compliance as soon as practicable.” Brian Adair, Chairman, Santa Fe Gold
The Backstory: Santa Fe Gold is a mining company engaged in the business of acquisitions and intended development of mineral properties. To date, no mining activities have yet commenced. The Company has acquired rights to five patented claims and 82 unpatented claims in the Black Hawk district of New Mexico, acquired rights to four placer claims in British Columbia, Canada, and owns an aggregate of 42 unpatented claims located in Grant County, New Mexico, and Hidalgo County, New Mexico (including the Pinos Altos claims). SFEG requires capital to complete the purchase and future development of its current mining properties, fund working capital needs, and fund contemplated acquisitions. Please visit www.santafegoldcorp.com.
Disclosure
Santa Fe Gold Corp. (OTC: SFEG) is a client of RedChip Companies, Inc. SFEG agreed to pay RedChip Companies, Inc. 1,000,000 shares of Rule 144 stock for 12 months of RedChip investor awareness services and consulting services.
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