Research Desk Line-up: BiondVax Pharma Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Oncobiologics, Inc. (NASDAQ: ONS), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ONS. The Company announced on September 8, 2017 a strategic partnership with GMS Tenshi Holdings Pte. Ltd. ("GMS Tenshi"), providing for the private placement of up to $25 million of Oncobiologics' Series A Convertible Preferred Stock ("Series A"), and warrants to acquire up to an additional 16.75 million shares of its common stock with an aggregate purchase price of about $15 million. The Company has also entered into an agreement with an existing investor and holder of senior secured notes to exchange $1.5 million of its senior secured notes for non-voting Series B Convertible Preferred Stock and forgive the unpaid interest on such exchanged notes. For immediate access to our complimentary reports, including today's coverage, register for free now at:
Discover more of our free reports coverage from other companies within the Biotechnology industry. Pro-TD has currently selected BiondVax Pharmaceuticals Ltd (NASDAQ: BVXV) for due-diligence and potential coverage as the Company announced on August 31, 2017 its financial results for Q2 2017 which ended on June 30, 2017 and also provided a business update. Tune in to our site to register for a free membership, and be among the early birds that get our report on BiondVax Pharma when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ONS; also brushing on BVXV. Go directly to your stock of interest and access today's free coverage at:
Oncobiologics (NASDAQ: ONS) views this announcement as a step to align with a strategic financial partner with a global strategy to accelerate the commercialization of its biosimilar candidates and to enhance its partnering and licensing capabilities. Along with the purchase agreement, the two Companies also entered into a Joint Development and License Agreement, facilitating the license to GMS Tenshi of rights to ONS-3010 and ONS-1045 in emerging markets, excluding China, India, and Mexico. The License also supersedes and replaces a previous strategic license agreement entered into on July 25, 2017 with GMS Tenshi, which initially licensed only ONS-1045 and resulted in payments totaling $2.5 million and an up-front payment and milestone fees to Oncobiologics.
GMS Tenshi is a Singapore based joint-venture between Tenshi Life Sciences Ltd. and GMS Holdings, a private investment Company headquartered in Amman, Jordan, owning a portfolio of business across different segments. GMS Holdings is a founder and major shareholder in MS Pharma, which is a leading branded generics Company in the Middle-East and the North Africa region. GMS Holdings was also a co-founder and majority shareholder in Alvogen, Inc., a specialty generic pharmaceutical Company, which it sold in 2014.
Company Growth Prospects
Oncobiologics (NASDAQ: ONS) plans to leverage GMS Tenshi's know-how to rapidly deliver critically needed biosimilars to emerging markets across the globe. The Company believes that it now has a partner with the necessary financial and global commercial pharmaceutical expertise that, when combined with the unique BioSymphony Platform, would allow the Company to realize its vision of bringing affordable biologic drugs to patients in need around the world.
On April 17, 2017, the Company announced that it had amended its Note and Warrant Purchase Agreement (NWPA), dated December 22, 2016, and issued additional senior secured promissory notes that bear interest at a rate of 5% per year, and mature on the 1-year anniversary of the NWPA. Under the amended NWPA, the Company also issued an additional $3.5 million aggregate principal amount of Notes and an additional 1.17 million of Warrants. Oncobiologics announced that it would use the proceeds from the sale of the additional Notes and Warrants for working capital requirements and to support ongoing development work as it pursues strategic opportunities.
Last Close Stock Review
On Monday, September 11, 2017, the stock closed the trading session at $1.80, dropping 10.89% from its previous closing price of $2.02. A total volume of 1.46 million shares have exchanged hands, which was higher than the 3-month average volume of 162.39 thousand shares. Oncobiologics' stock price skyrocketed 80.00% in the last one month and 17.65% in the past three months. The stock currently has a market cap of $19.78 million.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily