CORAL GABLES, FL / ACCESSWIRE / March 18, 2019 / The tech stock market is truly miraculous, mainly because the tech industry never ceases to amaze consumers as companies consistently demonstrate their ability to innovate towards the future. Over the course of the last few months, we've seen tech companies design and invent in the areas of data analytics, artificial intelligence, augmented reality, and a plethora of others. The fact of the matter is that our world is changing faster than we can keep track, and in order to overcome the challenges presented by our dynamic existence, we need the tech industry to assist us in our fight against the growing obstacles facing humankind. ParcelPal Technology Inc (PTNYF) (PKG), Conformis Inc (CFMS), Digital Turbine Inc (APPS), and Akari Therapeutics Plc (AKTX) represent 4 tech stocks on the rise on Monday.
ParcelPal Technology Inc (PTNYF) (PKG) is a technology-driven logistics company purposed with connecting consumers to the goods they love. The Company recognized a very real issue facing society; ease of access to quality products without the need of traveling to stores for purchases. People are busy with work, families, and other aspects of life and they simply do not have time to drive to the store to buy groceries. In recognition of this, ParcelPal created an on-demand marketplace where customers can purchase what they need from the Company's smartphone app, and have their orders delivered by a ParcelPal courier within the hour.
ParcelPal Technology Inc (PTNYF) (PKG) made headlines last week when the Company announced that it had signed into a cannabis distribution agreement with Kiaro, a Vancouver-based cannabis retailer. This marks the Company's second strategic partnership to manage cannabis deliveries through the omnichannel platforms of Canadian retailers.
Following the announcement, Kelly Abbott, President, and CEO of ParcelPal Technology Inc (PTNYF) (PKG) said, ''cannabis delivery is expensive and often through antiquated courier services – with consumers waiting over a week to receive their items. With ParcelPal, customers will receive their cannabis products safely within an hour. Our technology enables seamless integration with any cannabis retail outlet or eCommerce platform.''
Conformis Inc (CFMS), a medical technology company that uses its proprietary iFit image-to-Implant technology platform to develop, manufacture, and sell joint replacement implants, last week announced that the Company will be featuring the new 3D designed Conformis Hip System as a key technology focus at the 2019 American Academy of Orthopedic Surgeons annual conference March 13-15, 2019 in Las Vegas, NV.
Following the announcement, Mark Augusti, President, and CEO of Conformis said, ''at the Conformis product booth we will give an overview of the design rationale as well as a hands-on demonstration of our CAD design process and explanation of the hip iView pre-surgical plan. Surgeons will be able to have in-depth conversations with engineers to understand the design rationale and process as well as speak directly to members of our MAB to hear first-hand how this new technology is providing greater insight into patient anatomy and care through the surgical planning process.''
Digital Turbine Inc (APPS) announced financial results for the fiscal third quarter ended December 31, 2018, in early February, at which time the Company shared that its third-quarter revenue was $30.4 million, representing 34% growth when compared to the fiscal third quarter of 2018. The Company has surpassed 230 million total devices with Ignite installed to date, including approximately 28 million devices installed during the December quarter.
Bill Stone, CEO of Digital Turbine, stated, ''we witnessed higher revenue-per-slot on a comparable 'same-store sales' basis, modest slot accretion with select partners, and greater contribution from new products outside of Dynamic Installs. In addition to the organically-driven growth with our relatively mature U.S. carrier partners, we also benefitted from nearly 100% annual growth with our international partners and the launch of a new partner in the U.S. The added diversification from new products and partners was vital to driving meaningfully higher margins and greater profitability in the quarter.''
Akari Therapeutics, Plc (AKTX) last week announced that it had a successful Type B, pre-IND meeting with the Food and Drug Administration regarding Akari's proposed pivotal clinical trial program for pediatric hematopoietic stem cell transplant-related thrombotic microangiopathy (HSCT-TMA).
Clive Richardson, interim Chief Executive Officer of Akari, commented, ''Akari plans to commence a trial in European and U.S. pediatric HSCT-TMA patients in the fourth quarter of 2019. We see HSCT-TMA as a gateway indication into a range of other poorly treated orphans TMAs, and are enthusiastic about the potential of Coversin to offer an improved standard of care for patients with these rare and usually fatal conditions.''
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