RepliCel Life Sciences Inc (TSXV:RP)
RepliCel is a regenerative medicine company developing autologous cell therapies that address diseases caused by a deficit of healthy cells required for normal healing and function.
Reflecting strong demand for telehealth services due to COVID-19 quarantines, Teladoc (NYSE:TDOC) expects Q1 revenue of $180M – 181M, up 40% (midpoint) from a year ago and 4% above consensus of $173.5M.
Non-GAAP EBITDA should be $10M – 11M (+775%).
Total visit volume should be greater than 1.8M (+70%). Daily visits in the U.S. now exceed 20K.
Final results will be released on April 29.
Management will host a conference call today at 5:00 pm ET to discuss preliminary results.
Shares up 4% after hours.
Nano cap Sonnet BioTherapeutics Holdings (SONN +87%) rockets northward on a healthy 26x surge in volume in apparent response to a report from New York think tank Altru Institute which has organized the Altru Global Virus Project aimed at identifying breakthroughs to treat COVID-19.
Altru’s first summary report focuses on Sonnet and its proprietary platform that may be “highly applicable” to the treatment of viral infections.
The company says its technology, called Fully Human Albumin Binding, enables modular plug-and-play drug development. Specifically, it utilizes a scaffold, based on its proprietary albumin-binding single-chain antibody fragment, to deliver recombinant human cytokines and other targets. Once administered into the body, the albumin-binding fragment attaches to albumin in the bloodstream and accumulates in inflamed tissue including, potentially, inflamed lung tissue in COVID-19 patients with respiratory problems.
Albumin, made by the liver, comprises ~60% of the total protein in the blood.
Health insurers and managed care providers are adding to the broad market rally as European leaders mull steps to open their economies back up, starting with the cessation of quarantines, as the rate of new COVID-19 cases wanes across the continent.
Spain just reported the fewest new cases since March 20 and infections in Germany have dropped for the fifth straight day.
Denmark is set to reopen day care centers and primary schools.
At yesterday’s briefing from the Coronavirus Task Force in Washington, DC, President Trump said the government is close to completing guidelines to re-open the U.S. “hopefully ahead of schedule.” May 1 appears to be the target date.
Removal of quarantines should release pent-up demand for clinic visits, new prescriptions and elective surgical procedures.
Selected tickers: CVS Health (CVS +2.3%), eHealth (EHTH +6.0%), WellCare Health Plans (WCG), UnitedHealth Group (UNH +2.9%), Molina Healthcare (MOH +3.7%), Humana (HUM +3.2%), Cigna (CI +2.8%), Centene (CNC +2.3%), Anthem (ANTM +3.8%).
Hospital operators enjoying increased buying: Universal Health Services (UHS +2.9%), SunLink Health Systems (SSY +5.3%), Tenet Healthcare (THC +2.8%), Community Health Systems (CYH +13.4%), HCA Healthcare (HCA +4.6%).
Rite Aid (NYSE:RAD) says it plans to expand COVID-19 testing sites as part of its partnership with the White House Coronavirus Task Force.
In addition to the current testing site in Philadelphia, Rite Aid has added a new location in Harrisburg, Pennsylvania.
The company expects to have additional drive-up COVID-19 testing locations open soon at Rite Aid stores in Pennsylvania, New York, New Jersey, Ohio, Michigan, Connecticut and Virginia.
RAD is +3.11% to $14.60.
ImmunoPrecise Antibodies’ (OTCQB:IPATF) subsidiary Talem Therapeutics has entered into a research license agreement with Janssen Research & Development, LLC, providing latter exclusive access to a panel of novel, monoclonal antibodies against an undisclosed target.
Pursuant to the Agreement, Janssen holds an option to acquire all commercial rights to the antibodies.
Financial details have not been disclosed.
