Double Digit NASDAQ Stock Winners: DYAI, UPST, CWBR

8:10 am Thursday, August 12th, 2021

Following are major stock gainers on Nasdaq in Wednesday’s trading session:

Dyadic International, Inc. (NASDAQ:DYAI) was the active stock gainer on Wednesday and soared 47% to $5.28 after signing a binding term sheet to enter into a License Agreement with Sorrento Therapeutics (NASDAQ:SRNE) to develop and commercialize vaccines, therapeutics, and diagnostics for coronaviruses, including Dyadic’s lead COVID-19 vaccine candidate, DYAI-100, produced using DYAI’s proprietary and patented C1-cell protein production platform.

“The license agreement, when executed, contemplates an up-front payment of $10 million in cash and stock, up to $4 million in reimbursements for preclinical and clinical development costs incurred by Dyadic for the development and advancement of our proprietary DYAI-100 vaccine, up to $33 million in milestone payments and ongoing royalties following commercialization. All future development costs related to this license will be incurred by Sorrento,” said Mark Emalfarb, Dyadic’s President and CEO.

Upstart Holdings, Inc. (NASDAQ:UPST) was another notable winner as the stock went up 26% to end the session at $171. To put it mildly, Upstart shattered the market’s expectations. The company posted revenue of $194 million for the quarter, more than 10 times what it produced in the pandemic-stricken second quarter of 2020 and well ahead of the $158 million analysts had been looking for. And unlike many fintechs, Upstart is quite profitable. For the quarter, Upstart earned $0.62 per share, more than doubling the $0.25 expected by analysts.

CohBar, Inc. (NASDAQ:CWBR) surged 25.50% to $1.62. The company reported its financial results for the second quarter ended June 30, 2021.

“Our positive CB4211 topline data announcement today marks an important milestone in our path towards demonstrating the full potential of our novel therapeutic platform sourced from the mitochondrial genome,” stated Dr. Joseph Sarret, Chief Executive Officer. “In parallel with our ongoing analysis of the promising data from the CB4211 study, we are diligently working to enable CB5138-3 to enter the clinic next year for the treatment of idiopathic pulmonary fibrosis. This is an exciting time for the company as we look forward to continued progress in the development of product candidates designed to address serious unmet medical needs.”