Double Digit Movers: REE, AVEO, SRTS
3:20 pm Wednesday, January 05th, 2022
REE Automotive Ltd. (NASDAQ:REE) is one of the biggest gainers in the electric vehicle sector after announcing that it is starting trials of its all-new P7 platform. The P7 platform is designed for commercial delivery vehicles and walk-in vans. The fully flat P7 is said to offer the greatest interior space and volumetric efficiency for vehicles in classes 3-5 and supporting payloads of up to 8,800 lbs. The company says electric and autonomous vehicles built on top of REE’s P7 platforms will be able to achieve driving ranges of up to 370 miles with max speeds of 80 mph.
Shares of AVEO Oncology (NASDAQ:AVEO) are down this morning despite the company signing an agreement with privately held NiKang Therapeutics to examine a combination of Fotivda (tivozanib) with the latter’s NKT2152 for renal cell carcinoma. Fotivda is a vascular endothelial growth factor receptor tyrosine kinase inhibitor. NKT2152 is a small molecule that inhibits hypoxia inducible factor 2α (HIF2α). Fotivda is approved as a third-line therapy for relapsed or refractory advanced renal cell carcinoma. Terms call for NiKang will sponsor the trial and AVEO to co-fund it. The phase 2 trial will begin some time this year.
Sensus Healthcare (NASDAQ:SRTS) is rising after the company reported that it expects record sales in Q4, leading to over $25M in sales for 2021. The medical device maker also expects positive EBITDA and net income for Q4 and full year 2021. The company noted that the Q4 sales include shipment of three SRT Systems to China. In addition, based upon expectations for shipments during the current quarter, the company expects to be profitable for Q1 2022.
