Double Digit NASDAQ Stock Winners: PMCB, SGOC, AZRX
8:18 am Thursday, August 19th, 2021
Following are major stock gainers on Nasdaq in Wednesday’s trading session:
PharmaCyte Biotech, Inc. (NASDAQ:PMCB) was the active stock gainer on Wednesday and soared 190% to $9.90 after the company released a statement from Kenneth L. Waggoner, the Chief Executive Officer of PharmaCyte, regarding the Company’s recent listing on Nasdaq and the Company’s current business focus.
Mr. Waggoner stated, “Becoming a Nasdaq-listed company is an important milestone in PharmaCyte’s lifecycle as we continue to execute on our initiatives to build long term shareholder value and to develop our treatments for pancreatic cancer, diabetes and other hard-to-treat diseases. We believe being a Nasdaq-listed company will help elevate our public profile, expand our shareholder base, improve liquidity and enhance shareholder value.
SGOCO Group, Ltd. (NASDAQ:SGOC) was another notable winner as the stock went up 67.50% to end the session at $7.20. There was no press release or earnings announcement from Sgoco Group that warranted this big move, so the likely suspects could be Wall Street Bets traders on Reddit, who have tried to push around this stock in the past. In early July, it went up over 1,000% in just a few days on no fundamental news. The stock gave up a lot of those gains in recent weeks and is now up around 360% in the past month, including the big jump today.
Even though the company’s shareholders are likely happy today, this looks like a high-risk stock that individual investors should stay away from. With less than $5 million in revenue in 2020, negative gross profits, and a market cap now over $500 million, there’s not much value that investors are getting in buying this stock.
AzurRx BioPharma, Inc. (NASDAQ:AZRX) surged 32% to $0.69 after the drugmaker reported clinical-trial progress with a treatment for pancreatic problems in cystic fibrosis patients.
Specifically, it reported positive top-line results from a Phase 2 trial evaluating MS1819 combined with the current standard of care, porcine-derived pancreatic enzyme replacement therapy, to treat severe exocrine pancreatic insufficiency in patients with cystic fibrosis. With CF, a defective gene causes secretions in the body to become sticky and thick, plugging up passages in the lungs and pancreas.
