Nasdaq Stock Buzzers: VICR, NLSP, ABVC, TLRY, THRD

July 27, 2023July 27, 2023 Scott Birndorf ABVC, NLSP, THRD, TLRY, VICR

The NASDAQ exchange is one of the most closely followed stock exchanges in the world. It is not only one of the world’s biggest exchanges but also lists some of the biggest companies and trades with hundreds of billions are completed every day. Here is a look at some NASDAQ-listed stocks that have been buzzing lately.

Vicor Corporation (NASDAQ:VICR) – was one of the biggest gainers in yesterday’s trading session and surged 57.72% to $93.70 on hefty volume and made a new high of $93.84.

The power components and systems manufacturing company is looking to harness the strong demand for its products for deployment in high-performance artificial intelligence and computing applications. Its performance in the second fiscal quarter demonstrated that the strategy was indeed working. Naturally, the stock was buzzing. The revenue growth of 4.5% year on year to $106.7 million may not seem like much, however, it is necessary to delve deeper.

Vicor Corporation performed strongly in terms of margin performance, which led to a rise in net income by 60%, which worked out to $17.1 million. That represented earnings of $0.38 a share. The company’s operating cash flows demonstrated even higher gains by percentage. The Chief Executive Officer PatrizioVinciarelli stated that the bookings in the second quarter were weak.

However, the company expected the release of its AI platform for powering distribution networks to record strong growth in the fourth quarter. The product is aimed at reducing power consumption in the usage of high-performance computing processors.

NLS Pharmaceutics Ltd (NASDAQ: NLSP) – The Swiss clinical-stage biopharmaceutical firm is focused on the development and discovery of novel therapies for patients suffering from rare disorders of the central nervous system. On July 3 NLS Pharmaceutics Ltd announced that the full protocol of the NLS 031 study had been reviewed by the United States Food and Drug Administration. It is part of the Phase 3 initiative for Mazindol ER, also called AMAZE.

The company also announced that the Phase 3 clinical trial protocol for the evaluation of the safety and efficacy of Mazindol ER got its approval from the independent institutional review board. The product is meant for treating patients suffering from Type 1 narcolepsy. As per the recommendations from the FDA, each of the two Phase 3 trials would measure the weekly cataplexy episodes as the primary endpoint over the course of 8 weeks of treatment and sleepiness of excessive nature during daytime as a secondary goal.

The stock closed up by 38.41% to $1.06.

ABVC BioPharma Inc (NASDAQ: ABVC) – The clinical-stage biopharmaceutical company is involved in the development of therapeutic solutions in the fields of ophthalmology, oncology, hematology, and neurology.

ABVC BioPharma Inc was in the news cycle on Wednesday after it announced that it had inked a term sheet for further strengthening its partnership with Zhonghui United Technology (Zhonghui) Group Co Ltd and its affiliated entities. The partnership would work on the possible acquisition of real estate assets through an equity transfer worth $7.4 million.

The ultimate aim of the whole exercise would be to develop a high-scale health and wellness base from out of Chengdu, China. The planned partnership would also look to create an integrated platform that would help researchers and industrial entities to collaborate seamlessly. The company would transfer its common shares to Zhonghui for the price of $20 each in exchange for a 20% stake in the former’s property in Chengdu. The value of the property was pegged at $37 million by an independent valuation company.

The stock ended higher by 40% to close at $5.32 in the previous session.

Tilray Brands (NASDAQ: TLRY) was one of the biggest gainers in yesterday’s trading session and surged 14.88% to $1.93 on hefty volume.

The cannabis company announced yesterday that it was on the lookout for strategic acquisitions in the spirits and beverages industry, as per its Chief Executive Officer Irwin Simon. It is part of a larger initiative from the company to diversify its portfolios. Since marijuana continues to be illegal in the United States at a federal level the company has struggled to get access to capital. Additionally, the active illegal market for marijuana also hampered it considerably.

In order to strengthen its business, Tilray Brands is now looking into the beverage space. Simon called beverages ‘a big business and went on to add that he foresaw the company’s alcohol business growing into a business worth more than $300 million in the upcoming years. Since the heydays of 2018, cannabis firms have seen billions wiped off their valuations and in June Canopy Growth had even expressed doubts about continuing as a going business.

Third Harmonic Bio Inc (NASDAQ: THRD) – The biopharmaceutical firm is focused on the development of the next generation of medicines for treating inflammatory diseases. This week Third Harmonic Bio Inc that its candidate THB 335 was a next-generation product and an improvement on its first-generation KIT inhibitor product THB 001.

The company announced that it was planning to file for an IND in the United States and start the clinical development of the product for treating mass cell-mediated inflammatory diseases at some point in the first six months of 2024.

The stock has soared 26% in the past month. On Wednesday, the stock went up 9.11% to close at $6.11.