Top Stock Gainers: IVAC, TSOI, TBPH
2:49 pm Monday, January 03rd, 2022
Intevac (NASDAQ:IVAC) signs deal to sell off its photonics business to a privately-held optical technology company- EOTECH. The transaction is valued at up to $100M comprising of $70M in up-front cash payment and up to $30M in future earn-out payments. Intevac reported $6.8M of Photonics revenues for 3Q21 with gross margin of 32%; the company’s total revenue for the quarter stood at $14.8M (-31.5% Y/Y) that is $2.1M above market consensus. The sale comes in a move to align entire focus on thin-film equipment business. “Intevac Photonics, as envisioned by our late founder Norman Pond, pioneered the night vision technologies that have become the standard for most advanced digital night vision programs for the U.S. military, as well as many foreign nations,” says Intevac’s President and CEO Wendell Blonigan.
Therapeutic Solutions International (OTCPK:TSOI) said a study showed that a seven day course of nutraceutical supplement QuadraMune reduced COVID-19 hyperinflammation induced by monocytes. In the study, 10 people received placebo and 10 received twice daily doses of QuadraMune for seven days. Blood monocytes were extracted and treated with SARS-CoV-2 spike protein in vitro for three time points. The company said a significantly decreased production of the inflammatory cytokine interleukin-6 was reported at all three timepoints.
Shares of Theravance Biopharma (NASDAQ:TBPH) are up today on trading that is more than three times the daily average. As of 1118a, ~2.9M shares had traded hands. Daily average volume is ~826.5K. There has been no news or other catalysts from the company so far today that might explain the rise.
