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Cellect Biotechnology Ltd. (APOP)

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Previous Close2.7900
Bid2.6900 x 1200
Ask2.7700 x 1800
Day's Range2.5500 - 2.7780
52 Week Range1.6500 - 7.1500
Avg. Volume2,038,214
Market Cap10.126M
Beta (5Y Monthly)1.93
PE Ratio (TTM)N/A
EPS (TTM)-0.8540
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • Cellect Biotechnology Reports Fourth Quarter and Full Year 2020 Financial and Operating Results

    Cellect Biotechnology Reports Fourth Quarter and Full Year 2020 Financial and Operating Results

    TEL AVIV, Israel, March 29, 2021 (GLOBE NEWSWIRE) -- Cellect Biotechnology Ltd. (NASDAQ: “APOP”), a developer of innovative technology that enables the functional selection of stem cells, today reported financial and operating results for the fourth quarter and full year ended December 31, 2020 and provided a corporate update. On March 24, the Company announced a strategic merger agreement with privately held Quoin Pharmaceuticals, a U.S. based specialty pharmaceutical company focused on rare and orphan diseases. Under the terms of the merger agreement, Quoin has secured $25 million in committed funding from a highly regarded, institutional healthcare investor. Current Cellect shareholders will retain approximately 25% of the combined shares before investment. The merger is expected to close by the end of the second quarter of 2021. Cellect has also signed an agreement to sell its wholly-owned subsidiary company, Cellect Biotherapeutics, to EnCellX, Inc. - a newly founded biotechnology company based in San-Diego, CA. - to continue the development of Cellect’s products. Recent Clinical Highlights Due to the COVID-19 pandemic and the Company decision to shift attention and resources to the U.S. Phase I clinical trial, which is expected to enroll the first patient soon, the Company has elected to close the Phase 1/2 clinical trial being performed in Israel earlier than expected, since recruitment of the 12th and final patient was not assured in a timely manner.To date, Data from the open label Israel Phase 1/2 clinical trial supports the Company’s optimism as it extends its clinical program to the U.S. The Company expects to publish the top line results of the Israel trial in Q2. “Concurrent with our plans to seek strategic alternatives to maximize shareholder value, we also remained focus on advancing our clinical interests in the U.S.,” commented Dr. Shai Yarkoni, Chief Executive Officer. “We have signed a compelling business proposition with Quoin and a privately-held U.S. biotechnology company that allows our current shareholders to benefit from Quoin’s promising technology and the fruits of continued progress of our clinical programs as they reach critical inflections points through the issuance of contingent value rights to our shareholders in connection with the sale of Cellect Biotherapeutics.” Fourth Quarter and Full Year 2020 Financial Results: Research and development (R&D) expenses for the fourth quarter and for the full year of 2020 were $0.53 million and $1.83 million respectively, compared to $0.80 million in the fourth quarter of 2019 and $3.77 million for the full year of 2019. The decrease in R&D expenses for the full year of 2020 as compared to the full year of 2019 resulted from the reduction in our research and development activities, as we decreased the number of our employees engaged in research and related activities.General and administrative (G&A) expenses for the fourth quarter and for the full year of 2020 were $0.67 million and $2.52 million respectively, compared to $0.74 million in the fourth quarter of 2019 and $3.18 million for the full year of 2019. The decrease in G&A expenses for the full year of 2020 as compared to the full year of 2019 resulted from the reduction in the company activities resulting from a decrease in the number of employees.Finance expenses for the fourth quarter of 2020 were $0.38 million, and financial expenses were $1.27 million for the full year of 2020, compared to finance expenses of $0.35 million in the fourth quarter of 2019 and financial income of $1.72 million for the full year of 2019, respectively. The financial expenses in the full year of 2020 as compared to the financial income in the full year of 2019 is primarily due to the change in the fair value of the listed warrants granted in our U.S. initial public offering in 2016 and of the unregistered warrants granted in our registered direct offerings in 2019.Total Comprehensive loss for the fourth quarter and for the full year of 2020 was $1.58 million and $5.62 million respectively, or $0.004 per share for the fourth quarter and $0.015 per share for the full year of 2020, respectively, compared to $1.89 million, or $0.008 per share, in the fourth quarter of 2019 and $5.23 million, or $0.025 per share, for the full year of 2019. * For the convenience of the reader, the amounts above have been translated from NIS into U.S. dollars, at the representative rate of exchange on December 31, 2020 (U.S. $1 = NIS 3.215). About Cellect Biotechnology Ltd. Cellect Biotechnology (APOP) has developed a breakthrough technology for the selection of stem cells from any given tissue that aims to improve a variety of cell-based therapies. The Company’s technology is expected to provide researchers, clinicians and pharmaceutical companies with the tools to rapidly isolate specific cells in quantity and quality, allowing cell-based treatments and procedures in a wide variety of applications in regenerative medicine. The Company’s current clinical trial is aimed at bone marrow transplantations in cancer treatment. Forward Looking Statements This press release contains forward-looking statements about the Company’s expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as “believe”, “expect”, “intend”, “plan”, “may”, “should”, “could”, “might”, “seek”, “target”, “will”, “project”, “forecast”, “continue” or “anticipate” or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements and their implications are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition, historical results or conclusions from scientific research and clinical studies do not guarantee that future results would suggest similar conclusions or that historical results referred to herein would be interpreted similarly in light of additional research or otherwise. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the Company’s history of losses and needs for additional capital to fund its operations and its inability to obtain additional capital on acceptable terms, or at all; the Company’s ability to continue as a going concern; or maintain its current operations; uncertainties involving any strategic transaction the Company may decide to enter into as the result of its current efforts to explore new strategic alternatives; uncertainties of cash flows and inability to meet working capital needs; the Company’s ability to obtain regulatory approvals; the Company’s ability to obtain favorable pre-clinical and clinical trial results; the Company’s technology may not be validated and its methods may not be accepted by the scientific community; difficulties enrolling patients in the Company’s clinical trials; the ability to timely source adequate supply of FasL; risks resulting from unforeseen side effects; the Company’s ability to establish and maintain strategic partnerships and other corporate collaborations; the scope of protection the Company is able to establish and maintain for intellectual property rights and its ability to operate its business without infringing the intellectual property rights of others; competitive companies, technologies and the Company’s industry; unforeseen scientific difficulties may develop with the Company’s technology; and the Company’s ability to retain or attract key employees whose knowledge is essential to the development of its products. Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in Cellect Biotechnology Ltd.’s Annual Report on Form 20-F for the fiscal year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission, or SEC, which is available on the SEC’s website, www.sec.gov, and in the Company’s periodic filings with the SEC. ContactCellect Biotechnology Ltd.Eyal Leibovitz, Chief Financial Officerwww.cellect.co+972-9-974-1444 Or EVC Group LLCMichael Polyviou(732) 933-2754mpolyviou@evcgroup.com Cellect Biotechnology LtdConsolidated Statement of Operation Convenience translation Twelve months ended Twelve months ended Three months ended December 31, December 31, December 31, 2020 2020 2019 2020 2019 Unaudited Audited Audited Unaudited Unaudited U.S. dollars NIS (In thousands, except share and per share data) Research and development expenses 1,830 5,883 12,122 1,693 2,571 General and administrative expenses 2,523 8,111 10,210 2,167 2,378 Operating loss 4,353 13,994 22,332 3,860 4,949 Financial expenses (income) due to warrants exercisable into ADS 846 2,721 (7,022) 4 998 Other financial expenses (income), net 424 1,362 1,498 1,224 129 Total comprehensive loss 5,623 18,077 16,808 5,088 6,076 Loss per share: Basic and diluted loss per share 0.015 0.049 0.079 0.013 0.027 Weighted average number of shares outstanding used to compute basic and diluted loss per share 368,078,786 368,078,786 212,642,505 390,949,079 224,087,799 Cellect Biotechnology LtdConsolidated Balance Sheet Data Convenience translation December 31, December 31, December 31, 2020 2020 2019 Unaudited Audited Audited U.S. dollars NIS ASSETS (In thousands, except share and per share data) CURRENT ASSETS: Cash and cash equivalents 5,277 16,964 18,106 Other receivables 88 284 469 5,365 17,248 18,575 NON-CURRENT ASSETS: Restricted cash 100 322 328 Right of use - Assets under operating lease 219 705 1,035 Other long-term assets 22 72 94 Property, plant and equipment, net 384 1,232 1,288 725 2,331 2,745 6,090 19,579 21,320 LIABILITIES ANDSHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Trade payables 121 389 158 Leases liabilities 115 369 396 Other payables 693 2,228 3,080 929 2,986 3,634 NON-CURRENT LIABILITIES: Warrants to ADS 380 1,222 2,172 Leases liabilities 122 391 677 502 1,613 2,849 EQUITY: Ordinary shares of no par value: Authorized: 500,000,000 shares at December 31, 2019 and December 31 2020; Issued and outstanding: 224,087,799*) and 390,949,079*) shares as of December 31, 2019 and December 31, 2020, respectively. - - - Additional Paid In Capital 39,452 126,838 108,598 Share-based payments 5,135 16,508 16,528 Treasury shares (2,932) (9,425) (9,425)Accumulated deficit (36,996) (118,941) (100,864) 4,659 14,980 14,837 6,090 19,579 21,320 *)Net of 2,641,693 treasury shares of the Company held by the Company. Cellect Biotechnology LtdConsolidated Cash Flow Data Convenience translation Twelve months ended Twelve months ended Three months ended December 31, December 31, December 31, 2020 2020 2019 2020 2019 Unaudited Audited Audited Unaudited Unaudited U.S. dollars NIS (In thousands) Cash flows from operating activities: Total comprehensive loss (5,623) (18,077) (16,808) (5,088) (6,076) Adjustments to reconcile net loss to net cash used in operating activities: Exchange rate difference (412) (1,326) 1,036 (1,115) (50)Loss (gain) from revaluation of financial assets presented at fair value through profit and loss - - - - (8)Depreciation of Right of use - Assets under operating lease 115 369 433 97 (24)Depreciation 109 350 373 94 88 Finance expenses 27 88 128 40 128 Issuance expenses - - 1,621 - 1,621 Changes in fair value of traded and non traded warrants to ADS 847 2,722 (8,643) 4 708 Share-based payment 229 738 2,708 262 807 Decrease (increase) in other receivables 65 207 385 417 239 Increase (decrease) in other payables (193) (621) (1,663) 528 192 Interest received 20 64 93 8 168 Net cash used in operating activities (4,816) (15,486) (20,337) (4,753) (2,207) Cash flows from investing activities: Restricted deposit, net 2 6 9 7 9 Proceeds received from the sale of fixed assets 11 35 6 - 6 (Purchase) Sales of marketable securities measured at fair value through profit and loss - - - - - Purchase of property, plant and equipment (103) (329) (123) (170) (3)Net cash provided by investing activities (90) (288) (108) (163) 12 Cash flows from financing activities: Exercise of warrants and stock options into shares 1,435 4,615 - - - Repayment on account of lease liabilities (137) (441) (522) (117) (101)Issue of share capital and warrants, net of issue costs 2,860 9,194 22,393 - (1,330)Net cash provided (used) by financing activities 4,158 13,368 21,871 (117) (1,431)Exchange differences on balances of cash and cash equivalents 393 1,264 (1,129) 1,108 (117)Increase (decrease) in cash and cash equivalents (355) (1,142) 297 (3,925) (3,743)Balance of cash and cash equivalents at the beginning of the period 5,632 18,106 17,809 20,889 21,849 Balance of cash and cash equivalents at the end of the period 5,277 16,964 18,106 16,964 18,106

  • The Daily Biotech Pulse: Bristol-Myers Squibb's Skin Cancer Readout, Cellect Strikes Reverse Merger Deal, Lava Therapeutics Makes Nasdaq Debut

    The Daily Biotech Pulse: Bristol-Myers Squibb's Skin Cancer Readout, Cellect Strikes Reverse Merger Deal, Lava Therapeutics Makes Nasdaq Debut

    Here's a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech Stocks Hitting 52-week Highs March 24) F-star Therapeutics, Inc. (NASDAQ: FSTX) IDEAYA Biosciences, Inc. (NASDAQ: IDYA) Orphazyme A/S (NASDAQ: ORPH) Ortho Clinical Diagnostics Holdings plc (NASDAQ: OCDX) Down In The Dumps (Biotech Stocks Hitting 52-week Lows March 24) Adagene Inc. (NASDAQ: ADAG) Biophytis SA (NASDAQ: BPTS) Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) Connect Biopharma Holdings Limited (NASDAQ: CNTB) (went public Friday) Decibel Therapeutics, Inc. (NASDAQ: DBTX) Dyne Therapeutics, Inc. (NASDAQ: DYN) Epizyme, Inc. (NASDAQ: EPZM) Evaxion Biotech A/S (NASDAQ: EVAX) Finch Therapeutics Group, Inc. (NASDAQ: FNCH) (went public Friday) Forma Therapeutics Holdings, Inc. (NASDAQ: FMTX) Galapagos NV (NASDAQ: GLPG) Galecto, Inc. (NASDAQ: GLTO) Gracell Biotechnologies Inc. (NASDAQ: GRCL) Ibere Pharmaceuticals (NYSE: IBER-UN) Inhibikase Therapeutics, Inc. (NASDAQ: IKT) Karyopharm Therapeutics Inc. (NASDAQ: KPTI) MorphoSys AG (NASDAQ: MOR) Metacrine, Inc. (NASDAQ: MTCR) Odonate Therapeutics, Inc. (NASDAQ: ODT) Olema Pharmaceuticals, Inc. (NASDAQ: OLMA) Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) Sarepta Therapeutics, Inc. (NASDAQ: SRPT) Sigilon Therapeutics, Inc. (NASDAQ: SGTX) Talis Biomedical Corporation (NASDAQ: TLIS) uniQure N.V. (NASDAQ: QURE) Universe Pharmaceuticals INC (NASDAQ: UPC) Vallon Pharmaceuticals, Inc. (NASDAQ: VLON) Voyager Therapeutics, Inc. (NASDAQ: VYGR) Stocks In Focus Neurocrine to Join S&P MidCap 400 Index Standard & Poor's announced that Neurocrine Biosciences, Inc. (NASDAQ: NBIX) will replace O-I Glass Inc. (NYSE: OI) in the S&P MidCap 400 effective March 30. The stock was up 8.98% premarket at $95.43. Cellect Biotech to Merge With Specialty Pharma Company Quoin Cellect Biotechnology Ltd. (NASDAQ: APOP) announced a merger agreement with privately held specialty pharma company Quoin Pharmaceuticals Inc. The agreement provides for Cellect shareholders owning 25% of the combined company compared to 75% by Quoin shareholders. Completion of the merger is subject to approval of shareholders of both companies and certain other conditions. The closing of the transaction is expected by the end of the second quarter of 2021. Following the completion of the merger, Cellect will be renamed Quoin Pharmaceuticals and will begin trading on NASDAQ under the symbol QNRX. The stock was up 45.85% premarket at $5.09. Midatech Announces Term Agreement To Co-Develop MTX110 Midatech Pharma plc (NASDAQ: MTP) said the heads of terms of the agreement for codeveloping MTX110 has been agreed, and if the deal progresses to definitive agreements, the company said it expects to receive a modest upfront payment on execution, success-based development and sales milestones and royalties. The company also released headline unaudited results, showing lower revenues and a wider loss for fiscal year 2020. The stock was up 3.41% to $2.12 in premarket trading Thursday. Vertex Announces Australian Regulatory Nod For Triple Combo Cystic Fibrosis Therapy Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) said the Australian Therapeutic Goods Administration has approved the use of Trikafta for people with cystic fibrosis, ages 12 years and older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator gene, the most common CF-causing mutation worldwide. Related Link: FDA Decisions For Pfizer, Eli Lilly And Bluebird Bio, Bristol-Meyers Squibb, Plus New Data And Earnings Bristol-Myers Squibb Opdivo-Antibody Combo Therapy Aces Phase 2/3 Skin Cancer Study Bristol-Myers Squibb (NYSE: BMY) announced positive primary results from the Phase 2/3 trial evaluating the fixed-dose combination of relatlimab, an anti-LAG-3 antibody, and Opdivo versus Opdivo alone in patients with previously untreated metastatic or unresectable melanoma. The company said the trial met its primary endpoint of progression-free survival. Follow-up for overall survival, a secondary endpoint, is ongoing. Additionally, the fixed-dose combination was well-tolerated and there were no new safety signals reported in either the relatlimab and Opdivo combination arm or the Opdivo arm. G1's Recently Approved Cosela Included In 2 Updated Cancer Treatment Guidelines G1 Therapeutics, Inc. (NASDAQ: GTHX) said its Cosela has been added to two updated National Comprehensive Cancer Network Clinical Practice Guidelines in Oncology: the Treatment Guidelines for Small Cell Lung Cancer and the Supportive Care Guidelines for Hematopoietic Growth Factors. View more earnings on IBB It recently won the FDA nod for mitigating the effects of chemotherapy in lung cancer patients. The stock was up 1.76% at $20.80 in premarket trading Thursday. Synlogic Says Hyperoxaluria Treatment Achieves Proof of Mechanism In Phase 1 Study Synlogic, Inc. (NASDAQ: SYBX) announced that SYNB8802 has achieved proof of mechanism in a dietary hyperoxaluria Phase 1 Part A study in which healthy volunteers on a high oxalate and low calcium diet were treated with multiple ascending doses of SYNB8802. In the study's efficacy analysis, the percent change from baseline urinary oxalate levels were negative 28.6% compared to placebo, at the 3e11 live cell dose. This dose was well tolerated and will be used in Part B of the study, the company said. The stock was down 6.96% premarket at $3.61. Radius, Sio-Gene Gain On Insider Transactions Radius Health, Inc. (NASDAQ: RDUS) said in a filing its chief business officer Chhaya Shah exercised options to buy shares. Sio Gene Therapies, Inc. (NASDAQ: SIOX) revealed in a filing its CEO Pawan Cheruvu bought 100,000 shares in the company at $2.4814. In after-hours trading, Radius stock was up 19.49% to $27.50, while Sio Gene gained 8.97% to $2.55. Earnings TELA Bio, Inc.'s (NASDAQ: TELA) fourth-quarter revenue climbed 17% year-over-year to $5.7 million in 2020, and the loss per share narrowed from $1.22 to 54 cents. The stock climbed 14.29% to $16 in after-hours trading. Offerings Evofem Biosciences, Inc. (NASDAQ: EVFM) priced its underwritten public offering of 17.143 million shares of its common stock at a price to $1.75 per share. The gross proceeds from the offering to Evofem are expected to be approximately $30 million. The offering is expected to close on or about March 29. All of the shares of common stock in the offering are to be sold by Evofem. In after-hours trading, the stock fell 10.73% to $2.08. On The Radar Adcom Meeting The FDA's Arthritis Advisory Committee, along with the Drug Safety and Risk Management Advisory Committee will likely announce its recommendation on Pfizer Inc.'s (NYSE: PFE) biologic license application for tanezumab subcutaneous injection for the proposed indication of relief of signs and symptoms of moderate to severe osteoarthritis in adult patients for whom use of other analgesics is ineffective or not appropriate. Tanezumab is being jointly developed by Pfizer and Eli Lilly and Company (NYSE: LLY). Earnings Vascular Biogenics Ltd. (NASDAQ: VBLT) (before the market open) Genetron Holdings Limited (NASDAQ: GTH) (before the market open) Synlogic (before the market open) NovaBay Pharmaceuticals, Inc. (NYSE: NBY) (after the close) Neoleukin Therapeutics, Inc. (NASDAQ: NLTX) (after the close) OpGen, Inc. (NASDAQ: OPGN) (after the close) Eyenovia, Inc. (NASDAQ: EYEN) (after the close) HTG Molecular Diagnostics, Inc. (NASDAQ: HTGM) (after the close) CymaBay Therapeutics, Inc. (NASDAQ: CBAY) (after the close) BIOLASE, Inc. (NASDAQ: BIOL) (after the close) ADMA Biologics, Inc. (NASDAQ: ADMA) (after the close) Athersys, Inc. (NASDAQ: ATHX) (after the close) Processa Pharmaceuticals, Inc. (NASDAQ: PCSA) Panbela Therapeutics Inc. (NASDAQ: PBLA) IPOs Dutch biotechnology Lava Therapeutics B.V., which is developing bispecific antibodies engineered to selectively induce gamma-delta T cell-mediated immunity against tumor cells, priced its 6.7-million share initial public offering at $15, the midpoint of the estimated price range of $14-$16. The company's shares will begin trading on the Nasdaq under the ticker symbol LVTX. Related Link: Attention Biotech Investors: Mark Your Calendar For March PDUFA Dates See more from BenzingaClick here for options trades from BenzingaThe Daily Biotech Pulse: Dynavax-Clover Start Phase 2/3 Vaccine Study. BrainStorm Reports Positive MS Readout, NeoGenomics Goes ShoppingThe Daily Biotech Pulse: FDA Approvals For Merck, Pacira And Zealand, Roche-Regeneron Ace Late-Stage COVID-19 Study, AlloVir Appoints Gilead Virology Chief As CEO© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • SmarterAnalyst

    Thursday’s Pre-Market: Here’s What You Need To Know Before The Market Opens

    U.S. Stock futures were slightly higher on Thursday as investors await data on the recovery of the labor market with jobless claims expected to be reported later in the day. Nasdaq futures were leading the way rising around 0.4% followed by Dow and S&P futures which were both approximately 0.25% higher at the time of writing. Companies reporting earnings today include Darden Restaurants (DRI), Cresco Labs (CRLBF) and BRP (DOOO) before the bell, while Science Applications (SAIC), Progress (PRGS) and Blink Charging (BLNK) will release their figures after the market closes. Cellect Biotech (APOP) was both the most actively traded and the strongest stock before the bell after the company announced a strategic merger with Quoin Pharmaceuticals. APOP was trading around 74% higher in the pre-market, followed by Houston Wire & Cable Company (HWCC) and Enochian Biosciences (ENOB), who were up 40% and 39% respectively. WISeKey International (WKEY) led the way lower dropping 22% before the bell, while Evofem Biosciences (EVFM) and Rite Aid (RAD) were down 18% and 16% at the time of writing. In corporate earnings news, KB Home (KBH) fell almost 3% in pre-market trading despite posting better-than-expected Q1 earnings. Earnings jumped 62% to $1.02 per share, beating analysts’ expectations of $0.92. Revenues of $1.14 billion, however, missed Street estimates of $1.21 billion but grew 6% from the year-ago period. The company delivered 2,864 homes in the quarter which represents a 4% increase compared to the year-ago period. Meanwhile, RH Inc. (RH) climbed over 7% before the bell as strong demand for luxury products led the company to report better-than-expected Q4 results. Adjusted earnings surged 36% year-over-year to $5.07 per share and came in well ahead of analysts’ expectations of $4.76. Adjusted net revenues climbed 22% to $812.6 million and surpassed the consensus estimate of $797.27 million. “With the momentum in the business, we believe it’s safe to say 2021 should result in revenue growth in the range of 15% to 20%,” said RH CEO, Gary Friedman. Evolus (EOLS) dropped over 12% before the market opened after reporting a wider-than-expected loss for Q4. A GAAP net loss of $3.28 per share was significantly higher than the Street’s estimates of a $0.34 loss per share. Revenues, however, beat forecasts of $20.3 million slightly, coming in at $20.6 million and increasing 5.8% year-on-year. Winnebago (WGO) credits strong consumer demand for its stellar Q2 results. Revenues jumped 34% year-on-year to $839.9 million and beat analysts’ expectations of $798.2 million. Adjusted earnings of $2.12 per share came in well ahead of consensus estimates of $1.42 and increased 216% year-over-year. CEO Michael Happe said, “We are pleased with the outstanding market and financial results from our second quarter of fiscal 2021, as they reflect the sustained strength of our leading brand portfolio and our world-class team’s commitment to safely deliver high-quality products to our valued dealer network.” In M&A news, Mettler-Toledo (MTD) has acquired PendoTECH, a producer of single-use sensors, transmitters, control systems and software. The total consideration for the deal includes an initial $185 million upfront payment with an additional $20 million in contingencies and other undisclosed post transaction amounts. MTD is up around 72% over the past year. More recent articles from Smarter Analyst: KB Home’s 1Q Profit Beats Estimates On Housing Market Boom; Shares Tank 3% RH’s 4Q Results Top Estimates As Housing Demand Picks Up; Shares Pop After-Hours Shoe Carnival’s 1Q Outlook Outpaces Estimates After 4Q Earnings Beat Evolus Slips 10% On Wider-Than-Expected 4Q Loss