Modiv Inc. (NYSE: MDV) gained 21.47% after confirming the release date for its Q4 and FY 2021 financial results, which will be on Wednesday, March 23, 2022. The real estate investment trust (REIT) acquires, owns, and operates a vast portfolio of single-tenant net-lease properties.
The company recently announced that its board had authorized a stock buyback program and declared a monthly cash dividend ofn$0.095833 per share for February and March. In addition, the Board approved a $20 million share repurchase program through December 31, 2022. Notably, all purchases made pursuant to this program will be made periodically in privately entered transactions and in other ways as allowed by federal securities regulations and legal requirements.
The monthly dividend declared will be payable to shareholders that will be on record as of February 28, 2022, and March 31, 2022, on March 25 and April 25, respectively.
Incannex Healthcare Limited (NASDAQ: IXHL) gained 55.02% on Tuesday. The stock has been volatile since the company released results from its second phase clinical study investigating its proprietary cannabinoid combination candidate, IH-42X, for obstructive sleep apnoea treatment. In patients with OSA, the clinical study compared three doses of IHL-42X versus placebo in decreasing the apnoea hypopnoea index (AHI), the primary diagnostic and monitoring criterion for the illness. Participants in the trial were given each of the 3 IHL-42X dosages and placebo throughout the course of four seven-day therapy sessions spaced by one-week washout intervals.
Preliminary results indicate that IHL-42X was well tolerated in the study with treatment-related adverse events consistent with what has been reported in historic IHL-42X studies. On December 20, 2021, the company announced that it was getting ready for a pre-IND meeting with the US FDA on a future development plan for IHLX-42X. The company has been gr4anted a meeting scheduled for May 11, 2022, which will offer guidance on the required data for an INDA application for IHL-42X.
PROCEPT BioRobotics Corporation (NASDAQ: PRCT) was up 18.43% after filing full-year results last week. The company had statutory losses of $3.663 per share, which was an increase of 24%. However, revenue topped estimates by 2.1% at $34 million, but this seems somewhat a cold comfort. This is an ideal moment for imnvesot6s to track the company’s performance in the report.
Following the earnings, four analysts are predicting revenue of $52.3 million which will be a considerable 52% increase in sales compared to last year. However, losses are expected to increase 26% to $1.73 per share. As a result, analysts have cut their valuation son the stock after the release of the result, with the average price target price dropping 14% to $41 with the current losses weighing in sentiment despite the revenue estimates upgrade.