Small Cap Losers: OMER, CEI, RIDE
3:30 pm Friday, October 01st, 2021
Omeros Corporation (NASDAQ:OMER) As part of its ongoing review of co’s Biologics License Application for narsoplimab in the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy, the FDA identified deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time. The FDA intends to work with co to resolve issues as expeditiously as possible, but co does not expect any such resolution to occur by the October 17 PDUFA target action date. Co is evaluating potential next steps. Downgraded to Hold from Buy at Maxim Group.
Camber Energy Inc (NYSEAMERICAN:CEI) continued volatility. Moderates its recent gains after rallying to 52-week highs earlier this week. Camber Energy, Inc., an independent oil and natural gas company, engages in the acquisition, development, and sale of crude oil, natural gas, and natural gas liquids (NGL) in the Cline shale and upper Wolfberry shale in Glasscock County, Texas.
Lordstown Motors Corp (NASDAQ:RIDE) and Foxconn reached an agreement in principle to work jointly on electric vehicle programs at co’s Lordstown, Ohio assembly plant; Foxconn has also agreed to purchase approx. $50 mln of co’s common stock. Among terms of the agreement, co and Foxconn will endeavor to negotiate an agreement pursuant to which Foxconn would purchase the Lordstown facility, excluding certain assets, for $230 mln. Co will provide an update on its production plans in light of the agreement during its Q3 earnings call. Raised its guidance for SG&A and R&D expenditures for 2021. Resumed with an Equal-Weight at Morgan Stanley.
