Almost There
DENVER, Colo., Dec 23, 2024 (247marketnews.com)- Siyata Mobile (NASDAQ: SYTA), Rumble (NASDAQ: RUM), RAPT Therapeutics (NASDAQ: RAPT), Optical Cable (NASDAQ: OCC), Rigetti Computing (NASDAQ: RGTI), and Direct Digital (NASDAQ: DRCT)
Siyata Mobile (NASDAQ: SYTA) is marching forward towards its upcoming press event to showcase a new significant material development, about which Seelenfreund emphasized, “Siyata is in the best position it’s been in since our company’s inception, as our capital expenditures have directly improved all performance metrics, and we look forward to delivering continued successful results. Please tune into our upcoming press conference, which will highlight a next level shareholder value creation event that you surely won’t want to miss.”
Rumble (NASDAQ: RUM) reported, after Friday’s market close, that it entered into a $775 million strategic investment agreement with Tether, which Rumble plans on using $250 million to grow the platform’s reach and the remainder to fund a tender offer for up to 70 million of the Rumble’s common shares at $7.50. The offering is expected to close in the first quarter of 2025.
Tether will become a minority owner Rumble’s outstanding common stock, while Rumble’s chairman and CEO, Chris Pavlovski, retains his controlling stake in Rumble.
RAPT Therapeutics (NASDAQ: RAPT) stated that it entered into an exclusive license agreement with Shanghai Jemincare Pharmaceutical, which grants RAPT the worldwide rights, excluding mainland China, Hong Kong, Macau and Taiwan, to develop and commercialize RPT904, in exchange for a $35 million upfront license fee and up to $672.5 million in additional payments upon the achievement of various regulatory and commercial milestones, and royalties on future RPT904 sales.
Brian Wong, M.D., Ph.D., RAPT’s President and CEO of RAPT, stated, “We’re delighted to partner with Jemincare and excited by RPT904 and its potential to be a novel best-in-class treatment option for patients with food allergy. Omalizumab’s rapid uptake in food allergy since its approval earlier this year confirms the high unmet need and large opportunity in this growing market. RPT904 targets the same clinically validated epitope as omalizumab and combined with extended half-life, gives this molecule a best-in-class profile. We plan to initiate a Phase 2b clinical trial of RPT904 in food allergy in the second half of 2025.”
RAPT Therapeutics further announced that raised approximately $150 million via a private placement with a group of accredited investors for 100,000,000 shares of common stock at a purchase price of $0.85 per share and pre-funded warrants to purchase up to 76,452,000 shares of common stock at a price per pre-funded warrant of $0.8499
Optical Cable Corporation (NASDAQ: OCC) reported its fourth quarter and fiscal year 2024 financial results, today, including increases of 12.4% in net sales and 68.6% gross o.
Neil Wilkin, OCC’s President and CEO, said, “OCC delivered a strong fourth quarter to finish the fiscal year. Through solid execution of our growth strategies in a challenging market environment, we reported sequential and year-over-year increases in net sales in the fourth quarter of fiscal year 2024. We also achieved growth by all other measures during the fourth quarter—including gross profit and gross profit margin, as well as achieving positive income from operations and earnings per share—demonstrating the impact of OCC’s significant operating leverage on profitability as net sales and production volumes increase.”
Mobot alerted Rigetti Computing (NASDAQ: RGTI) in October at $0.926 and it’s been running since its recent news that it successfully applied AI to automate the calibration of a quantum computer with Quantum Machines has provided additional fuel to its impressive run to a new 52-week high of $12.75. Today’s high is $12.30
This morning, MoBot alerted Direct Digital (NASDAQ: DRCT) at $1.004 and it’s pulled back from today’s high of $2.69. Look for it to try to consolidate at this current level.
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