NASDAQ Stocks On The Radar: REAX, CPIX, COCP, TBLA, MLSS
There are a plethora of stocks on the NASDAQ exchange, given that it is one of the biggest and most active stock exchanges in the world. However, that also makes it a bit overwhelming for investors to make watch lists of stocks to follow. Here is a closer look at five NASDAQ-listed stocks that investors may consider tracking at this point.
The Real Brokerage Inc. (NASDAQ:REAX) On August 9, The Real Brokerage Inc., which is the biggest publicly listed real estate brokerage, announced its financial results for the second fiscal quarter, which ended on June 30, 2023. The company recorded revenues of $185.3 million, which worked out to a year-on-year rise of as much as 65%. The gross profits went up to $17.8 million, which worked out to a year-on-year rise of 91%.
The adjusted EBITDA profit for the quarter stood at $2.6 million, which was also a significant improvement from the $583,000 EBITDA loss in the prior-year period. The net loss that was attributable to shareholders in the second quarter was $4.1 million. In the prior-year quarter, it was $4.2 million. At the end of the quarter, The Real Brokerage had a cash balance of $17.2 million, and it also held investments to the tune of $10.9 million.
That did not include $29.6 million in the form of restricted cash related to deposits from customers. During the second quarter, the company also bought back 601,000 common shares for a total of $806,000.
Cumberland Pharmaceuticals Inc. (NASDAQ:CPIX) This week, Cumberland Pharmaceuticals Inc., a specialty pharmaceutical company, announced its financial results for the second fiscal quarter of 2023. The company revealed that its performance had improved overall. In the second quarter, it generated revenues of $10.9 million, which reflected a year-on-year rise of 6% and a sequential rise of 18% from the previous quarter. It was the second straight quarter that the company generated positive earnings and recorded $1.1 million of net income for the half-year period.
At the end of the quarter, Cumberland Pharmaceuticals had $89.4 million in total assets, $36.8 million in the form of shareholders’ equity, and total liabilities of $52.5 million. AJ Kazimi, the Chief Executive Officer of the company, noted that the first half of the year had been successful. He went on to add that there had been several major developments, and one of those was the approval of its product, Caldolor, by the United States Food and Drug Administration.
Cocrystal Pharma Inc. (NASDAQ:COCP): The clinical-stage biopharmaceutical company Cocrystal Pharma Inc. is involved in the development of unique small-molecule antiviral therapeutics. On August 8, the company announced that it had selected its product CDI 988 as a potential oral therapy for those afflicted with norovirus.
The product in question is an oral, unique, broad-spectrum 3CL inhibitor. The double-blind, placebo-controlled Phase 1 study of CDI 988 had been approved by the Australian Human Research Ethics Committee (HREC), the company noted yesterday. The study would be aimed at assessing the tolerability, safety, and pharmacokinetics of the product.
At this point, there are no approved vaccines or treatments for norovirus infection, which represents a considerable unmet need. The infection is also highly contagious and has been found to be the most common cause of severe gastroenteritis. The company noted yesterday that the norovirus is responsible for 20% of all cases of severe gastroenteritis.
Taboola (NASDAQ:TBLA): The global powering recommendation leader for the open web, Taboola helps people discover stuff they may have missed. On August 9, it announced its financial results for the second fiscal quarter ended June 30, 2023. The company generated revenues of $332 million, an ex-TAC gross profit of $123.1 million, a net loss of $31.3 million, and adjusted EBITDA of $15.7 million.
More importantly, all those figures exceeded the upper limit of the guidance that had been provided by the company. Taboola also generated as much as $7.4 million in free cash flow. The company raised its revenue projections for the 2023 financial year. It was moved up to the $1438 million to $1469 million range, and the adjusted EBITDA was raised to a range between $73 million and $80 million.
Milestone Scientific Inc. (NASDAQ:MLSS) On Wednesday, Milestone Scientific Inc., the leading computer-powered drug delivery instrument developer, announced that it would host a conference call on August 15, 2023, to discuss its financial results for the second quarter.
The conference call, which would begin at 8:30 a.m. Eastern Time, would witness a discussion of the performance in the quarter that ended on June 30, 2023. Additionally, the corporate progress made by the company and other developments would also be discussed. A webcast and a replay of the conference call would also be made available.
