Archive for Stock Market News – Page 2

Biotech’s DMD Therapeutic ‘Solidifies the Ground for Potential Pivotal Design’

By The Life Science Report

Source: Streetwise Reports   08/12/2019

The latest development concerning this clinical asset and other Q2/19 highlights are provided in an H.C. Wainwright & Co. report.

In an Aug. 8 research note, analyst Joseph Pantginis reviewed Capricor Therapeutics Inc.’s (CAPR:NASDAQ) Q2/19 financials and reported that H.C. Wainwright & Co. increased its target price on Capricor to $19.50 per share from $12.40. The biotech’s current share price is around $3.02.

For Q2/19, Capricor reported an earnings per share of ($0.59), Pantginis relayed, which compare to H.C. Wainwright’s reverse split-adjusted estimate of ($0.80). At quarter’s end, Capricor had $5.9 million in cash then subsequently raised $1.3 million through a facility, its taking pro forma cash total to $7.2 million. That amount is enough to take the company into Q4/19, according to management.

Also noteworthy, indicated Pantginis, is during Q2/19 Capricor delivered “significant” results of a six-month interim analysis of CAP-1002, which is being evaluated in the HOPE-2 study as a treatment for Duchenne muscular dystrophy (DMD).

HOPE-2 is the first randomized, double-blind, placebo-controlled study to show “statistically significant functional improvement” in boys with DMD who were treated with steroids, explained Pantginis. Results of the six-month analysis confirmed and expanded that previously seen efficacy of CAP-1002, “overall boosting the confidence in the program.”

Based on the company’s findings to date regarding exosomes, which play a role in the effects of CAP-1002, Capricor is advancing a preclinical program for another asset, CAP-2003, for the treatment of fibrotic diseases, including DMD, Pantginis pointed out. The biotech expects to file an investigational new drug (IND) application for CAP-2003 in the next few months.

Regarding the increased target price on Capricor, it resulted from H.C. Wainwright taking into account the 1:10 reverse split in June and increasing its discount rate to 45% from 15%, explained Pantginis. The latter was meant to add some wiggle room to the estimate while further information is pending, on a potential pivotal DMD trial and on the company’s future financing needs.

In terms of upcoming catalysts, Capricor should likely receive guidance in Q4/19 from the U.S. Food and Drug Administration on design of a pivotal DMD trial, wrote Pantginis. In the meantime, the developer of therapeutics will continue preparing for a “manufacturing scale-up and technology transfer of CAP-1002” and keep working toward filing the CAP-2003 IND.

H.C. Wainwright has a Buy rating on Capricor Therapeutics.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from H. C. Wainwright, Capricor Therapeutics Inc., Earnings Update, August 8, 2019

Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months.

I, Joseph Pantginis, Ph.D., certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.

None of the research analysts or the research analyst’s household has a financial interest in the securities of Capricor
Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position).

As of July 31, 2019 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities Capricor Therapeutics, Inc.

Neither the research analyst nor the Firm has any material conflict of interest in of which the research analyst knows or has reason to know at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services.

The Firm or its affiliates did not receive compensation from Capricor Therapeutics, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking
services within three months following publication of the research report.

H.C. Wainwright & Co., LLC managed or co-managed a public offering of securities for Capricor Therapeutics, Inc. during the
past 12 months.

The Firm does not make a market in Capricor Therapeutics, Inc. as of the date of this research report.

H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report.

( Companies Mentioned: CAPR:NASDAQ,
)

August 19 (Crazy Ivan) Event Only A Few Days Away

By TheTechnicalTraders.com

Our researchers have created this research post to highlight a big price move based on super-cycle research and patterns that should begin on or near August 19, 2019.  Back in April/May 2019, we started warning of a critical top formation we believed was aligned for July 2019.  In May/June, we altered this date to align more closely with our super-cycle research and determined the August 19, 2019 date.

It is our belief that this date will initiate a breakdown price move that may align with external news related or economic related data.  Our research continues to point to the potential for a large global breakdown in equity prices related to some type of near-crisis event.  It could be related to something within the US or outside the US – but either way, we slice it, August 19 looks to be the date we need to focus on.

Crazy Ivan Market Prediction for Stock Market and Volatility Article

Crazy Ivan Precious Metals Prediction Article

FANG Custom Index Weekly Chart

This FANG custom index weekly chart highlights how our Fibonacci Price Amplitude Arcs work in alignment with price rotation and trends.  The theory behind this analysis is that price trends operate at a frequency and amplitude that we can map out – much like Tesla’s theory of Mechanical Resonance.

In our studies, we have learned how to identify relative price amplitude and frequency factors, then align these to price peaks and valleys.  The result is that we can see where hidden support and resistance channels form and where the price will potentially reach an “inflection point”.

Right now, this week and next on this FANG chart are likely to see increased volatility and the potential for a price breakdown as the current RED arc level sets up a massive resistance channel.

Custom Smart Cash Index Chart

Our custom Smart Cash Index chart is also highlighting an overall weakness in the US and global markets.  Once this chart breaks the lower price channel level, there is a very strong possibility that this index will break down toward the $134 level (or lower) as the global markets attempt to identify price support.  Overall lows could target the $111 level (seeing in 2016) if the breakdown is excessive.

Custom Volatility Index

This Custom Volatility Index is suggesting a deeper price low is setting up if the August 19 breakdown date acts as we suspect.  If the global markets break lower, then this Custom Volatility Index will be pushed into an extreme low territory (below 5.5) were a very deep bottom/base will setup (as we have seen before).  If it reaches levels below 4.0, then we should be very close to a very deep “V” type bottom.

The recovery from this base/bottom will likely be somewhat extended as the shift in the capital around the globe seeks out the best, safest locations and returns.  We believe this bottom will complete near the end of 2019 or into early 2020 where the US markets will quickly gain acceptance as the location for global assets to avoid extended risks.

What Does All This Mean?

August 19 is only a few days away and we could see fireworks start in the global financial market place.

If our analysis is correct, we have only 4 to 7+ days before a major breakdown in price starts and we are yet unsure of the source or intensity of this event if there is one. Multiple analysis types are pointing to August as a key turn date and the market could fall by as much as 16-25% if there is a trigger event to spark the crisis.

What should you do? Well, being a pilot, quasi engineer, and technical trader using logic, rules, and processes to do things. I always wait for the price to confirm a new trend before taking action and entering a position. This is how we profited last week from the SP500 index falling. We traded the 2x bear fund SDS and locked in a quick profit.

The days are long gone where I would buy or sell stocks or trends based on tips and forecasts. That type of trading is really called legal gambling and the odds generally are not in your favor unless you tips are coming from insiders who actually know something.

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Chris Vermeulen

 

Dow plunges as Treasury yields fall

By IFCMarkets

Dollar weakening accelerated

US stock indexes losses widened on Monday as bond yields fell. The S&P 500 lost 1.2% to 2882.70 led by financials. Dow Jones industrial fell 1.5% to 25896.44. The Nasdaq composite dropped 1.2% to 7863.41. The pace of dollar weakening accelerated: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.1% to 97.38 but is higher currently. Stock index futures point to lower market openings today

DAX 30 loss smallest among European indexes

European stocks retreat continued on Monday led by bank shares. GBP/USD joined EUR/USD’s climb yesterday with both pairs lower currently. The Stoxx Europe 600 index ended 0.3% lower. The DAX 30 slipped 0.1% to 11679.68. France’s CAC 40 slid 0.3% and UK’s FTSE 100 0.4% to 7226.72.

Hang Seng leads Asian indexes slump

Asian stock indices are tracking Wall Street losses overnight. Nikkei closed 1.1% lower at 20455.44 despite the reversal of yen slide against the dollar. Markets in China are falling as protests paralyzed Hong Kong airport while China’s central bank set the yuan’s midpoint at 7.0326 per dollar, weaker than 7 per US dollar for a fourth straight day Tuesday. The Shanghai Composite Index is down 0.6% and Hong Kong’s Hang Seng Index is 1.9% lower. Australia’s All Ordinaries Index pulled back 0.3% as Australian dollar turned higher against the greenback.

HK50 retreat continues  08/13/2019 Market Overview IFC Markets chart

Brent down

Brent futures prices are edging lower today. Prices rose yesterday: October Brent crude closed 0.2% higher at $58.65 a barrel on Monday.

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Puma Biotech Shares Up More Than 20% on Q2 Earnings and Breast Cancer Drug Sales

By The Life Science Report

Source: Streetwise Reports   08/09/2019

Shares in Puma Biotechnology are trading 20% higher today after the company released Q2/19 earnings and reported positive NERLYNX revenue growth.

Biopharmaceutical company Puma Biotechnology Inc. (PBYI:NADSAQ) shares opened more than 20% higher today after the company announced financial results for the second quarter ended June 30, 2019.

Total revenue reported by the company in the quarter consisted primarily of product revenue from net sales of NERLYNX, Puma’s first commercial product, license revenue and royalty revenue. For Q2/19, total revenue was $53.9 million, of which $53.8 million was net NERLYNX revenue and $0.1 million was royalty revenue received from Puma’s sub-licensees, compared to $50.8 million in Q2/18, all of which was net product revenue. For H1/19, total revenue was $153.0 million of which $99.4 million was net product revenue and $53.5 million of license revenue received from Puma’s sub-licensees, and $0.1 million was royalty revenue. This compares to total revenue for H1/18 of $117.3 million, of which $86.8 million was net product revenue and $30.5 million was license revenue.

Cost of sales was $9.3 million for Q2/19 and $17.3 million for H1/19, compared to $8.8 million for Q2/18 and $15.2 for H1/18.

Research and development (R&D) expenses were $36.9 million for Q2/19 compared to $43.3 million for Q2/18 and were $72.6 million in H1/19, compared to $90.2 million for H1/18. The company noted that the $17.6 million year-to-date decrease resulted primarily from decreases of approximately $13.8 million for stock-based compensation, $3.5 million for internal R&D primarily related to payroll and payroll-related expenses, and $0.5 million in consulting fees related to clinical trials.

Overall, Total operating costs and expenses decreased to $79.7 million Q2/19, compared to $92.2 million in Q2/18 and were $168.9 million in H1/19 compared to $182.1 in H1/18.

The company reported a lower U.S. (GAAP) net loss of $37.4 million, or $0.97 per share for Q2/19 compared to a net loss of $44.3 million, or $1.17 per share in Q2/18, as well as a lower net loss for H1/19 of $47.5 million, or $1.23 per share, compared to a net loss of $68.7 million, or $1.82 per share for H1/18.

Net cash provided by operating activities for Q2/19 was $44.2 million, compared to $17.6 million in Q2/18 and as of June 30, 2019, the company had cash, cash equivalents, and marketable securities of $117.7 million.

Alan H. Auerbach, chairman, CEO and president of Puma stated, “The second quarter of 2019 included the achievement of several key milestones for Puma…this included sequential NERLYNX sales growth and the expansion of our global presence with NERLYNX with our European licensing agreement with Pierre Fabre. We saw the achievement of additional key milestones in July with the filing of the new drug application for neratinib in the metastatic breast cancer indication and obtaining approval for NERLYNX in the extended adjuvant indication from Health Canada….We anticipate the following key milestones during the remainder of 2019: (i) meeting with the FDA to discuss the clinical development and regulatory strategy for the SUMMIT trial in the third quarter of 2019; (ii) reporting additional data from the Phase II CONTROL trial in the fourth quarter of 2019; and (iii) receiving regulatory decisions for the extended adjuvant HER2-positive early stage breast cancer indication in additional countries.”

The company, which is headquartered in Los Angeles, Calif., is a biopharmaceutical company that focuses on the development and commercialization of innovative products to enhance cancer care. Puma Biotech in-licenses the global development and commercialization rights to three drug candidates: PB272 (neratinib, oral) PB272 (neratinib, intravenous); and PB357. Neratinib, oral was approved by the FDA in July 2017 for the extended adjuvant treatment of adult patients with early stage HER2-overexpressed/amplified breast cancer, following adjuvant trastuzumab-based therapy, and is marketed in the U.S. as NERLYNX (neratinib) tablets. NERLYNX, a registered trademark of Puma Biotechnology, was granted marketing authorization by the European Commission in September 2018 for the extended adjuvant treatment of adult patients with early stage hormone receptor-positive HER2-overexpressed/amplified breast cancer and who are less than one year from completion of prior adjuvant trastuzumab-based therapy.

On the news this morning, Puma shares opened more than 20% higher at $11.13 (+$1.92, +20.85%) over the prior day’s closing price of $9.21. The company shares, which started the day with a short interest position of approximately 13.50%, have traded today between $10.75 and $12.15, and closed at $11.16 (+$1.95, +21.17%).

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Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

( Companies Mentioned: PBYI:NADSAQ,
)

DAX30 CFD bears regain control – focus on 11,550

By Admiral Markets

Source: Economic Events August 12, 2019 – Admiral Markets’ Forex Calendar

The week kicks off with a very thin economic calendar, however, the latest developments and escalations in the trade dispute between the US and China can deliver enough potential fuel for volatility.

Still, we want to focus on the technical side in the DAX30 CFD. After the German index failed to take on further momentum on the upside into the last weekly close, a line in the sand on the upside holds at around 11,850 points today.

Should a break higher be initiated, further gains up to 12,000/030 points seem likely, even though we consider the technical picture on H1 to favour the short-side as long as we trade below 12,250 points.

In general, if after taking a breath from last Tuesday onwards, DAX30 CFD bears start to regain control and another stint lower seems a serious option. Here the key level, in our opinion, is around 11,550 points: a break lower leaves the German index vulnerable to a further drop with an initial target around 11,250 points, the region around the March lows:

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Hourly chart (between July 23, 2019, to August 9, 2019). Accessed: August 9, 2019, at 10:00pm GMT

Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD daily chart (between May 2, 2018, to August 9, 2019). Accessed: August 9, 2019, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.

In 2014, the value of the DAX30 CFD increased by 2.65%, in 2015, it increased by 9.56%, in 2016, it increased by 6.87%, in 2017, it increased by 12.51%, in 2018, it fell by 18.26%, meaning that after five years, it was up by 10.5%.

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By Admiral Markets

US stocks slid after Trump China trade comments

By IFCMarkets

Dollar weakens as Trump tweets rate cuts would help US companies

US stock indexes pulled back on Friday as President Trump told reporters he was “ not ready “ for a deal with China and negotiations earlier announced to continue in Washington in September may be cancelled. The S&P 500 lost 0.7% to 2918.65, falling 0.5% for the week. Dow Jones industrial slid 0.3% to 26287.44. The Nasdaq fell 1% to 7959.14. The dollar weakening continued as Trump tweeted Federal Reserve interest rate cuts “ will make it possible for our companies to win against any competition.” The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.02% to 97.52 but is higher currently. Stock index futures point to higher market openings today

DJI tests resistance    08/12/2019 Market Overview IFC Markets chart

DAX leads European indexes movement

European stocks resumed their retreat on Friday after the leader of Italy’s League Party called for a snap election. GBP/USD fell while EUR/USD rose on Friday with both pairs reversing their directions currently. The Stoxx Europe 600 Index lost 0.8% Friday. The DAX 30 fell 1.3% to 11693.80. France’s CAC 40 lost 1.1% and UK’s FTSE 100 slid 0.4% to 7253.85.

Shanghai Composite leads Asian indexes gains

Asian stock indices are mixed today in a thin trading with markets in Japan closed for a holiday. Yen accelerated its climb against the dollar. China’s markets are mixed as China’s central bank set the midpoint for the yuan weaker than 7 per dollar for the third day in a row: the Shanghai Composite Index is up 1.5% while Hong Kong’s Hang Seng Index is 0.3% lower. Australia’s All Ordinaries Index extended gains 0.1% as the Australian dollar accelerated its slide against the greenback.

Brent down

Brent futures prices are edging lower today on world growth slowing concerns. Prices rose on Friday: Brent for October settlement ended 2% higher at $58.53 a barrel Friday, nevertheless closing 5.4% lower for the week.

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

VIX Speculators sharply bailed out of bearish bets this week

August 10th – By CountingPips.comReceive our weekly COT Reports by Email

VIX Non-Commercial Speculator Positions:

Large volatility speculators sharply pared their bearish net positions in the VIX futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of VIX futures, traded by large speculators and hedge funds, totaled a net position of -80,581 contracts in the data reported through Tuesday August 6th. This was a weekly change of 63,733 net contracts from the previous week which had a total of -144,314 net contracts.

The week’s net position was the result of the gross bullish position (longs) growing by 30,113 contracts (to a weekly total of 146,824 contracts) which combined with the gross bearish position (shorts) that decreased by -33,620 contracts for the week (to a total of 227,405 contracts).

The VIX speculators position is of the Tuesday close and coincides with the volatility and risk-off sentiment of the beginning of the week (stocks down, safe havens up). The speculative bearish position had been grinding consistently higher and gaining for the previous nine of out eleven weeks before this week’s sharp turnaround. The current standing is now back down to it’s least bearish level since February.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 85,853 contracts on the week. This was a weekly drop of -65,717 contracts from the total net of 151,570 contracts reported the previous week.

VIX Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately 19.67 which was a gain of 4.60 from the previous close of 15.07, according to unofficial market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

Article By CountingPips.comReceive our weekly COT Reports by Email

Avedro Shares Looking Up 35% with Glaukos Merger

By The Life Science Report

Source: Streetwise Reports   08/08/2019

Avedro Inc. and Glaukos Corp. announced that the firms’ boards of directors have executed a definitive merger agreement. The all-stock deal is expected to close in Q4/19.

After the markets closed yesterday afternoon, corneal modeling platform firm Avedro Inc. (AVDR:NASDAQ) and ophthalmic medical technology and pharmaceutical company Glaukos Corp. (GKOS:NASDAQ) announced that the firms had entered into a definitive merger agreement under which Glaukos will acquire Avedro in an all-stock transaction. The boards of directors of both companies have already approved the merger. The deal is expected to close in the fourth quarter of this year subject to approval by Avedro’s shareholders and regulatory approval.

Under the terms of the merger agreement, for each share of Avedro common stock, Avedro shareholders will receive an exchange ratio equivalent of 0.365 shares of Glaukos stock. According to the agreed upon valuation calculation, “based on the parties’ volume weighted average prices (VWAPs) for the last 60 trading days prior to August 6, 2019, the transaction represents a 42% premium for Avedro shareholders. Upon closing, Glaukos shareholders are expected to own approximately 85% of the combined company, with Avedro shareholders expected to own the remaining 15%.”

The benefits of the transaction as highlighted in the report state that the deal “adds novel bio-activated pharmaceuticals to Glaukos’ new Corneal Health franchise; provides potential revenue synergies from complementary product portfolios that leverage Glaukos’ commercial scale, market-building experience and shared reimbursement expertise and customer relationships; allows for expanded pharmaceutical and device research, development and clinical capabilities that enhance ability to provide innovative hybrid ophthalmic therapies to patients; and that the acquisition is expected to accelerate Glaukos’ revenue growth rate in 2020 and be accretive to operating results and cash flows by 2021.”

Reza Zadno, Avedro’s president and CEO commented, “Avedro is extremely pleased with the potential to become part of Glaukos, a highly respected ophthalmic organization with a successful track record forging new markets with disruptive technologies like our keratoconus pharmaceutical therapies…Glaukos already has deep customer relationships with the majority of our target accounts, and a large, seasoned field organization that can unite with our team to accelerate awareness, adoption and utilization of our novel platform.”

Thomas Burns, Glaukos president and CEO stated in the release, “Avedro is an ideal fit for Glaukos’ core strengths in creating and disrupting ophthalmic markets with novel therapies that address important unmet clinical needs of practitioners and patients…Avedro has in place many of the same strategic attributes Glaukos used to pioneer MIGS, including proprietary paradigm-changing solutions, extensive clinical validation, broad reimbursement and first-to-market status…Our combined organizations can possess the essential expertise, scale and reach to maximize these opportunities, drive further commercialization of Avedro’s bio-activated pharmaceuticals and establish another synergistic and durable Glaukos franchise to fuel potential near- and long-term growth and shareholder value.”

It was a busy news day for both Avedro and Glaukos since in addition to the merger news both companies also announced second quarter earnings and operational results.

Avedro, Inc. announced financial results for the second quarter ended June 30, 2019. In Q2/19 the company reported revenue of $10.3 million, a 63% increase over Q2/18. Gross margin increased to 73.0% for Q2/19 compared to 56.4% in Q2/18. Operating loss was $6.9 million in Q2/19 versus $5.7 million in Q2/18, and the company posted a net loss of $7.4 million in Q2/19 compared to $6.5 million in Q2/18.

Glaukos also announced financial results for the second quarter ended June 30, 2019. The company reported that in Q2/19 net sales rose 36% to $58.6 million, compared to $43.2 million in Q2/18, adding that the growth primarily reflected unit volume increases worldwide.

The firm reported a loss from operations in Q2/19 of $6.2 million, which includes the $2.2 million in-process R&D charge, compared to a loss of $4.2 million in Q2/18, and a net loss in Q2/19 of $6.3 million, or $0.17 per diluted share, compared to a net loss of $5.4 million, or $0.15 per diluted share, in Q2/18, and ended Q2/19 with $159.2 million in cash and cash equivalents, short-term investments and restricted cash.

The company updated its 2019 net sales guidance to $226–231 million, compared to $225–231 million previously. The companies advised that the updated guidance does not include the impact of the pending acquisition of Avedro.

Avedro states that it is a leading hybrid ophthalmic pharmaceutical and medical technology company focused on treating corneal disease and disorders and improving vision to reduce dependency on eyeglasses or contact lens. The company’s proprietary bio-activated pharmaceuticals strengthen, stabilize and reshape the cornea to treat corneal ectatic disorders and correct refractive conditions.

Glaukos is an ophthalmic medical technology and pharmaceutical company that focuses on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases. The company states that it pioneered Micro-Invasive Glaucoma Surgery, or MIGS, and revolutionized the traditional glaucoma treatment and management paradigm. Glaukos states its strategy is to leverage its platform technology to build a comprehensive and proprietary portfolio of micro-scale surgical and pharmaceutical therapies in glaucoma, corneal health and retinal disease.

Avedro shares are trading much higher today on the merger news. The stock opened today at $21.50 (+$4.44, +26.03%) over yesterday’s close of $17.06. So far today, the firm’s shares have traded between $21.50 and $24.74 and at present are trading at $23.25 (+6.19, +36.28%).

Glaukos’ shares opened lower today at $ 62.30 (-$10.80, -17.34%) from the prior day’s close of $73.10. This morning the firm’s shares have traded between $61.09-68.735 and are currently trading at $64.96 (-$8.14, -11.14%).

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Part II – Metals and VIX Are About To Pull A “Crazy Ivan”

By TheTechnicalTraders.com

In the first part of this multi-part research post, we highlighted what we are calling a Crazy Ivan price event (borrowed from the movie Red October – (source).  The one thing we want you to take away from this article is that August 19, 2019, should be a major price inflection date where the price is very likely to begin a new downside price trend in the US and global stock markets.  This will likely push commodity prices to extremes and may very well push Gold and Silver into the stratosphere as fear and greed take hold across the planet.

Part I we highlighted how the VIX and the NQ are set up to react to this Crazy Ivan pricing event and how we believe many traders/investors are simply unaware of the potential for this type of large reversion price move.  We want to be clear, we believe the US markets will be somewhat immune from extended downside risks.  This does not mean there won’t be a downside price move and this does not mean that the markets won’t experience the Crazy Ivan reversion trend.  It will likely happen just as we are expecting, yet we believe the US stock markets will quickly recover from this move – like it has done many times in the past.

Our research that highlighted this August 19, 2019 date and the potential for what we are calling the Crazy Ivan price move is rooted in our super-cycle analysis, predictive modeling tools, and other specialized proprietary price modeling solutions and utilities.  We believe we’ve identified a key inflection point/date that will start what we are calling a “breakdown move” which will lead to the Crazy Ivan event throughout the globe.  As we stated in the first part of this article – we don’t know the exact composition of this event yet, but we do know that is should begin to happen near or after August 19, 2019.

Now, let’s get busy digging into the Gold and Silver charts for all our followers.

Gold 2-Week Chart Interval

This first Gold 2-Week chart highlights our Fibonacci price modeling tool and helps to show us where the price is targeting for the initial upside move from the April 21~24 Momentum Base pattern that we called back in January 2019.  We believe the current breakout upside price move will initially target the  $1597 level before briefly stalling, then rallying further to target the $1785 level or higher.

We believe the Crazy Ivan event could push Gold much higher than our projected levels under certain circumstances:

A. The US Dollar weakens throughout the initial process of the Crazy Ivan event

B.  Cryptos collapse as governments clamp down on rogue exchanges/currencies

C.  Massive credit and debt issues arise in China, Asia or the EU that threaten future economic output and operations

D.  Some type of crisis event unfolds where global investors believe war or conflict is imminent. (think Hong Kong, North Korea or somewhere in that general vicinity).

Without these additional impetuses in the metals market, we believe the price will follow our Crazy Ivan expectations (YELLOW LINES, below) fairly closely over the next 30 to 60+ days.

Silver Daily Chart Interval

Silver, on the other hand, is set up to break substantially higher based on the upside move we expect in Gold and the possibility that the Gold/Silver ratio will continue to contract to lower levels.  Recently, the Gold/Silver ratio fell from approximately 93 to 86.  This move relates the total number of ounces of Silver one must buy to equal the price of one ounce of Gold.  Currently, this level is back up to 89.5 as Gold has rallied faster than Silver has rallied.

But what happens when traders catch onto the fact that Gold and Silver will rally as this Crazy Ivan event takes place and that Silver is the true undervalued metal across the planet?  At the peak of Gold/Silver prices near April 2011, the Gold/Silver ratio was resting near 32 (yes you read that properly).  What would that look like on the Silver chart, below, if Gold continued to rally to levels above $2000?  It is really simple to find out.

$2000 (Gold per ounce) / 32 = $62.50 per ounce for Silver

What if Gold rallied a full 100% Fibonacci measured move from the previous 1999-2011 rally?  That peak level would be $2700 in Gold and the calculation is still simple.

$2700 (estimate Gold peak) / 32 = $84.375 per ounce for Silver.

Could it happen like this?  Yes, in theory, and reality it really could happen that Gold rallies to a level that equals a full 100% Fibonacci price extension and the ratio level falls to levels near 32.  If that were to happen, then these calculations would be accurate.

This is why we believe the Crazy Ivan event will become the catalyst for some really incredible trading opportunities and big price swings over the next 6 to 13+ months.

CONCLUDING THOUGHTS:

Our $21 upside price target in Silver is really muted compared to our long term price projections.  Yet everything hinges on this August 19, 2019 breakdown cycle date and what happens after that.  Our research suggests this current downside price move may have been a volatility explosion related to the lack of liquidity in the global markets and to hint that the markets are capable of being far more irrational for far longer than anyone expects.

We are only 9 days into August and we have already closed out 24.16% in gains from the falling SP500 using SDS, and the pop in gold using UGLD, and from the oversold bounce and rally in silver miners SIL.

We urge all of our followers to pay attention to our research, consider your options very closely and prepare for this next move by pulling some of your active portfolio away from risks and into more protective measures.  This Crazy Ivan event is just 10 days away and we really want to urge all of our followers to not under-estimate this event cycle.

WARNING SIGNS ABOUT GOLD, SILVER, MINERS, AND S&P 500

In early June I posted a detailed video explaining in showing the bottoming formation and gold and where to spot the breakout level, I also talked about crude oil reaching it upside target after a double bottom, and I called short term top in the SP 500 index. This was one of my premarket videos for members it gives you a good taste of what you can expect each and every morning before the Opening Bell. Watch Video Here.

I then posted a detailed report talking about where the next bull and bear markets are and how to identify them. This report focused mainly on the SP 500 index and the gold miners index. My charts compared the 2008 market top and bear market along with the 2019 market prices today. See Comparison Charts Here.

On June 26th I posted that silver was likely to pause for a week or two before it took another run up on June 26. This played out perfectly as well and silver is now head up to our first key price target of $17. See Silver Price Cycle and Analysis.

More recently on July 16th, I warned that the next financial crisis (bear market) was scary close, possibly just a couple weeks away. The charts I posted will make you really start to worry. See Scary Bear Market Setup Charts.

FREE GOLD OR SILVER WITH MEMBERSHIP!

Become a technical trader and profit like a pro!
Click Here

Chris Vermeulen

 

Metals and VIX Are About To Pull A “Crazy Ivan” – Part I

By TheTechnicalTraders.com

We’re borrowing a term from the movie Red October (source) that describes an unusual change of direction for a Russian submarine with the intent to seek out enemies and unknown targets – called a “Crazy Ivan”.  We are using this term because we believe the markets are about to pull a very unusual “Crazy Ivan” move of their own – reverting to unknown price levels while the US/Global markets attempt to seek out risk, support, resistance and other unknown “revaluation” targets in the process.

Our belief is that a key cycle date, August 19, 2019, will be the start of a breakdown in the US markets that aligns with some outside type of catalyst event.  It could be that foreign central banks issue some news or warning at that time or it could be that Asia/China issue some type of catalyst to the event.  We don’t know what the catalyst will be but we can guess that it will be related to geopolitics or the global economy/credit/debt issues.  God forbid it to be some type of war or human crisis event – we really don’t need that right now.

Please review these earlier research posts for more information :

July 24, 2019: PART II – BLACK HOLE IN GLOBAL BANKING IS BEING EXPOSED

July 24, 2019: SILVER PRICE TARGET DURING THE NEXT BULL MARKET

July 20, 2019: US & GLOBAL MARKETS SETTING UP FOR A VOLATILITY EXPLOSION – ARE YOU READY?

July 13, 2019: MID-AUGUST IS A CRITICAL TURNING POINT FOR US STOCKS

Our job as research analysts is to highlight what we believe is likely to happen and why we believe it is likely to happen.  Therefore, without guessing as to the cause of the event, let’s focus on the “Crazy Ivan” event and how we can attempt to profit from it.

First, let’s take a look at the VIX chart.  The VIX basing level (the lowest level the VIX has attained between price spikes) has been increasing as US stock market volatility continues to increase.  The nature of the calculations that make up the VIX would suggest this increase in basing levels would happen as extended volatility continues to be present in the markets – so this is expected.  What is not expected is the August 19th price inflection point that we believe will drive an unexpected price reversion in the US and global stock markets.  We believe this cycle inflection date is key to understanding how the markets will react going into the end of 2019 and beyond.

If our analysis is correct, then we believe a breakdown in the US and global markets will occur on or shortly after August 19, 2019, where the US stock markets are poised for a -15% to -25% price reversion.  This downside move in the US stock market would set up an incredible “price anomaly” for skilled technical traders that should provide an incredible opportunity for future profits.

We believe the ultimate downside potential for this move may last all the way through the end of 2019 and into early 2020 – although we can’t be certain yet as to the depth and severity of this move using our predictive modeling tools and utilities.  All we know is that it is about to happen based on what our predictive modeling tools are telling us and we have continued to try to warn you of this move for the past few months.  So here it is – the Crazy Ivan (as we’re calling it).

Any VIX rally that pushes the price above 30 or 40 would have to be rather severe compared to previous rotations.  The spikes on this chart related as follows on the NQ chart :

Early May VIX Spike to 23.31 resulted in a -938.25 point move (-11.91%) in the NQ

The current August VIX spike to 24.80 resulted in a -848.75 point move (-10.54%) in the NQ.

What would a move to above 32 in the VIX look like on the NQ chart?  How about a move to above 42 on the VIX?  Hello Crazy Ivan.

This next chart of the NQ on a monthly basis highlights our Adaptive Dynamic Learning (ADL) predictive modeling system at work.  This utility helps us to understand where the price will want to target in the future and also helps us to understand trend and outlying price trends (or price anomalies).  Price anomalies happen when price moves substantially away from where the ADL predictive modeling system is suggesting price wants to be at.  Thus, if the price of the NQ were to fall below $5500 very quickly (think Crazy Ivan) and our ADL modeling tool suggests that price really wants to be at $6800 at that time, then we have a $3300 price anomaly setting up.  This is a type of reactive price anomaly that suggests price is way off target and will attempt to revert to levels closer to the ADL predictive price levels.

We believe the Crazy Ivan event could push the price of the NQ much lower than our ADL predictive modeling system is suggesting and create a price anomaly that may become one of the most profitable trades near the end of 2019.

You can see from this ADL predictive modeling chart that price is expected to be lower near the end of 2019, but steadily climb higher into early 2020.  If price were to end up below 6400 by the end of 2019, that would set up a 1000+ point price anomaly setup that could become an incredible upside price move in early 2020.  Time will tell as this Crazy Ivan event plays out.

CONCLUDING THOUGHTS:

In the second part of this article, we’ll study the Crazy Ivan event in the metals and show you what we believe will happen to both Gold and Silver as this event plays out.  You won’t want to miss this one.

WARNING SIGNS ABOUT GOLD, SILVER, MINERS, AND S&P 500

In early June I posted a detailed video explaining in showing the bottoming formation and gold and where to spot the breakout level, I also talked about crude oil reaching it upside target after a double bottom, and I called short term top in the SP 500 index. This was one of my premarket videos for members it gives you a good taste of what you can expect each and every morning before the Opening Bell. Watch Video Here.

I then posted a detailed report talking about where the next bull and bear markets are and how to identify them. This report focused mainly on the SP 500 index and the gold miners index. My charts compared the 2008 market top and bear market along with the 2019 market prices today. See Comparison Charts Here.

On June 26th I posted that silver was likely to pause for a week or two before it took another run up on June 26. This played out perfectly as well and silver is now head up to our first key price target of $17. See Silver Price Cycle and Analysis.

More recently on July 16th, I warned that the next financial crisis (bear market) was scary close, possibly just a couple weeks away. The charts I posted will make you really start to worry. See Scary Bear Market Setup Charts.

Become a technical trader and profit like a pro!
Click Here

Chris Vermeulen