Stock in News: TSLA, KALA, BLI, UCL, UTRS, ARB, JNCE

Stock in News, Stock Market News, Share Market News

In this post, we are going to talk about all the news of 28 December 2022 which you should keep in mind.

Stock In News:

Top Gainer Today:

Kala Pharmaceuticals Inc (NASDAQ: KALA) quadrupled in very volatile trading Wednesday, after the biopharmaceutical company said the Food and Drug Administration accepted its investigational new drug (IND) application for KPI-012, its treatment of persistent corneal epithelial defect (PCED). With the acceptance, the company said late Tuesday that it is looking to initiate a Phase 2 trial KPI-012 in the first quarter of 2023.

Tesla Inc (NASDAQ: TSLA) If we look at the reason behind the rise in Tesla’s stock today, it is known that the company’s stock is taking a slight retracement after a major fall. Otherwise, this Tesla stock may fall further for the short term.

Jounce Therapeutics Inc (NASDAQ: JNCE) rallied more than 45% after selling remaining rights to its GS-1811 immunotherapy candidate to Gilead Sciences (GILD) for $67 million.

Argo Blockchain PLC (LON: ARB) Bitcoin miner Argo Blockchain (ARBK) will avoid filing for bankruptcy protection after it agreed to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital for $65 million.

The company announced it has struck a deal with Canadian firm Galaxy Digital Holdings. Under it, Argo’s flagship data centre in Texas will be sold for around £54m. The agreement will also involve an Argo subsidiary refinancing its asset-backed loans. The transactions are expected to close today.

Between the sale proceeds and loan, the move will allow Argo to pay down around £71m in debt and fees. Despite selling the facility, Argo will continue to operate its crypto mining machines there for the next couple of years, at least.

The company plans to refocus on the Canadian market with renewed vigour. It has two data centres there.

Minerva Surgical Inc. (NASDAQ: UTRS) jumped almost 72% after the medical technology company announced a $30 million private placement of 146.6 million shares at $0.2046 apiece – or almost 26% above Tuesday’s closing price. The deal led by private-equity investors Accelmed is expected to extend Minerva’s cash runway by at least 12 months.

Top Loser Today:

uCloudlink Group Inc. (NASDAQ: UCL) The company’s earnings call transcript data has come and according to this transcript, the company’s Q3 2022 earnings are not going to be good. This is why uCloudlink Group stock is down today. For Full Information Click Here

Berkeley Lights Inc. (NASDAQ: BLI) gets an Overall Rank of 57, which is an above average rank under InvestorsObserver’s stock ranking system. Our system considers the available information about the company and then compares it to all the other stocks we have data on to get a percentile-ranked value. BLI’s 57 means that it ranks higher than 57% of stocks.

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