Inogen Inc (NASDAQ: INGN) slumped over 30% after the company posted upside results for Q2 EPS and revs. Co credits revs growth of +41.7% yr/yr to strong consumer demand, improved average selling prices, including for portable oxygen concentrators, and reduced impacts from COVID-19. In connection with semiconductor chip shortages, co expects revenue growth constraints and a higher cost of goods sold per unit starting in Q3 until chip availability increases. Downgraded to Sector Weight at KeyBanc Capital Markets. Drops from yesterday’s two-year highs.
Onespan Inc (NASDAQ: OSPN) reported in-line results for Q2 EPS and revs. Co noted that while it is seeing growth across its e-signature and mobile security offerings, it is seeing slower progress with certain other solutions and that it expects to face increased labor costs, gross margin pressure, and some impact from pandemic resurgence for the remainder of the year. Lowered its FY21 revs guidance. Also announced a series of leadership changes, including the departure of CEO Scott Clements; Steven Worth has been named Interim CEO. The stock is down 25% to $18.70.
Karyopharm Therapeutics Inc (NASDAQ: KPTI) plunged 24% as the company missed consensus for Q2 revs on upside EPS. Net product revs for XPOVIO for Q2 were $20.2 million, up +8% yr/yr, vs $21.7 million in Q1. Co expects top-line data from its Phase 3 SIENDO study in endometrial cancer toward the end of this year. Non-GAAP R&D and SG&A expenses for FY21 are expected to range from $270-290 million. Falls to two-year lows.