Nasdaq Stocks Under $1 On The Radar: AXLA, VVPR, LTRY, MBRX, RVLP

The NASDAQ lists some of the most valued companies in the world, but that is not the reason why it is regarded as one of the biggest exchanges. It offers a wide range of options to investors who may want to invest in different niches of the market. This feature would provide you with a look into some NASDAQ-listed stocks from a particular niche; those trading at under $1.

Axcella Therapeutics (NASDAQ:AXLA) – The clinical-stage biotech firm Axcella Therapeutics is involved in a novel approach to addressing the biology of complex diseases through endogenous metabolic modulators (EMMs). On August 3 the company announced its financial results for the second fiscal quarter that ended on June 30, 2023. At the end of the quarter, the company had cash and cash equivalents to the tune of $8.9 million.

As of December 31, 2022, it had $17.9 million in cash and cash equivalents. In the quarter and the six months ended June 31, 2023, the research and development expenses were $1.2 million and $2.7 million, respectively. In the same periods last year, the company spent $16.9 million and $30.4 million, respectively.

The net losses for the quarter came in at $3.4 million, which worked out to $0.05 per basic and diluted share. It was a considerable improvement on the net losses of $21.3 million or $0.40 per basic and diluted share in the prior year period. The company also noted that it continued to work on its efforts to advance its AXA 1125 product.

VivoPower International PLC (NASDAQ:VVPR) On June 28, VivoPower International PLC announced that it had made a strategic equity investment in Tembo e-LV BV, its fully owned subsidiary unit. That investment valued the subsidiary at $120 million in pre-money value. Further demonstrating the commitment of Tembo to the United Arab Emirates and the Middle Eastern region, the company attracted an investment of $2.5 million from a private investment office.

The private investment office is backed by a member of the Al Maktoum family, the ruling family of Dubai. The Chief Executive Officer of VivoPower International, Kevin Chin, spoke about the development as well. He noted that everyone at the company was pleased at having attracted direct investment into Tembo. He went on to note that it also indicated the sort of achievements and plans that Tembo had managed to accomplish since it had been acquired in 2020.

Lottery.com Inc(NASDAQ: LTRY) – On August 2 Lottery.com Inc was in focus after it made an announcement about two major milestones that it had hit in its quest for growth. It announced on that day that it had been successful in regaining compliance with the NASDAQ listing requirement. Additionally, the company also managed to secure a credit facility with the United Capital Investment London Ltd (UCIL). The company noted that the credit facility agreement with UCIL would lead the company into a more stable future. As per the agreement, the company would be provided with a loan of $1 million initially.

Additionally, there would be a credit facility worth $49 million. The credit facility would not only help the company in strengthening its financial position but also allow it to pursue strategic moves which may present themselves. In order to get the loan, Lottery.com issued warrants to UCIL, which would be able to buy the company’s common stock. However, it had been limited to 15% of the issued and outstanding shares in the company.

Moleculin Biotech Inc (NASDAQ:MBRX) – The clinical-stage biotech firm Moleculin Biotech Inc. announced on August 3 that it would announce its financial results for the second fiscal quarter ended June 30, 2012, on August 11. The company’s management would host a conference call on the same day, and a live audio webcast of the discussion would also be available.

The conference call would commence at 8:30 a.m. Eastern Time. On July 13 the company announced the publication of the data from the successful MB 105 European Phase 1 clinical trial for testing the efficacy and safety of its product, Annamycin. The product was tested as a single agent for treating adults suffering from relapsed or refractory AML. The data was published in the peer-reviewed British Journal of Cancer Research.

RVL Pharmaceuticals Plc (NASDAQ: RVLP) The specialty pharmaceutical company RVL Pharmaceuticals Plc announced last week that it would announce its financial results for the second fiscal quarter before the opening of the United States markets on August 14, 2023. On the same day, the company would also host a conference call, which would commence at 8:30 a.m. Eastern Time.

On July 5 the company announced that, on the recommendations of the board, it was considering some strategic options. One of those was to have a certain counterparty in all stock strategic transactions and discuss the possibility of a combined company with funding sources. If the strategic transaction was completed, the new entity would be a more diversified one, RVL Pharmaceuticals claimed.