Why MindMed Is Rising In Pre-market?

Mind Medicine (MindMed) Inc. (MNMD) said the FDA has cleared the company’s Investigational New Drug application, allowing its phase 2b dose-optimization trial of MM-120 for the treatment of generalized anxiety disorder to proceed. The company said it is working with study investigators and clinical trial sites to prepare for participant enrollment, which is expected to start in early 2022.

The company said the previously announced clinical hold on the IND was lifted following its rapid responses for additional information related to the participant monitoring protocol in the upcoming study.

Shares of Mind Medicine (MindMed) were up 11% in pre-market trade on Tuesday.

Sartorius Posts Surge In FY21 Profit

Sartorius AG (SARTF), a German pharmaceutical and laboratory equipment supplier, on Thursday, in its preliminary report, posted a surge in earnings for the fiscal 2021, mainly due to economies of scale, partially deferred cost development, and rise in sales revenue.

For the fiscal 2021, the Göttingen-headquartered firm posted a profit of 553.4 million euros or 8.08 euros per share, compared with 299.3 million euros or 4.37 euros per share, reported for the year 2020.

Owing to rise in demand and business expansion, EBITDA of the company moved up by 69.7 percent, to 1.175 billion euros.

For the 12-month period, sales revenue of Sartorius also rose by 47.7 percent to 3.44 billion euros, owing to strong organic expansion of the company’s businesses in all regions, acquisitions, and Covid-19 pandemic induced demand.

For the fiscal 2022, the Group expects sales revenue to increase by about 14 percent to 18 percent. It also expects its underlying EBITDA margin to reach a figure at the high prior-year level of about 34 percent.

Based on the performance in the last fiscal, the Group now raised its mid-term forecast for profitability. Accordingly, the underlying EBITDA margin is now expected to be around 34 percent in 2025 as against its previous projection of around 32 percent. The consolidated sales revenue target for 2025 has remained unchanged at around 5 billion euros.

Fed statement, inflation update and Powell press conference: LIVE Updates

Fed Chairman Powell needs to ‘take back control’ immediately: Kenny Polcari

Slatestone Wealth Chief Market Strategist Kenny Polcari, Fitz-Gerald Group Chief Investment Officer Keith Fitz-Gerald and Belpointe Asset Management Chief Strategist David Nelson weigh in on investor fears over a potential global recession in 2023.

The Federal Reserve is expected to lay the groundwork for the pace of interest rate hikes this year, while also tackling red-hot inflation, at the conclusion of their January meeting.

Investors will get partial clarity at 2pm ET with the statement, followed by Chairman Powell's press conference which starts at 2:30 pm ET. 

WHERE INFLATION IS HITTING CONSUMERS THE HARDEST

Stocks are rallying ahead of the news after two sessions of extreme volatility. 

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BPCL to invest ₹10,000 crore in six new city gas networks

Total committed CGD investment now stands at ₹22,000 cr.

Bharat Petroleum Corporation Limited (BPCL) on Tuesday said it will invest ₹10,000 crore over the next five years in setting up city gas distribution networks in the cities for which it secured licences in the latest bidding round.

BPCL won licences to retail CNG to automobiles and supply piped natural gas for cooking purposes in six geographical areas or GAs bid out in the latest 11th bidding round of PNGRB.

“After announcement of results of bidding, BPCL’s committed investment in city gas distribution (CGD) network, on a standalone basis, would increase to over ₹22,000 crore for development of 23 GAs, including ₹10,000 crore for the six new GAs,” BPCL said in a stock exchange filing.

BPCL had won six GAs in 19 districts for setting up City Gas Distribution (CGD) networks, in the 11th bidding round of Petroleum and Natural Gas Regulatory (PNGRB). “The CGD footprints of BPCL, along with its JVs, will now extend to 48 GAs covering 94 districts in 18 states, across India. Currently, with presence in 63 districts, including prominent cities, BPCL along with its JVs together hold 33% market share in the CGD sector in the country,” it said.

Of the 61 GAs that received bids in the 11th round CGD bidding, Megha Engineering and Infrastructures Limited got 15 licences, Adani Total Gas Limited got 14 and State-owned Indian Oil Corporation (IOC) high potential nine GAs.

BPCL had city gas licence for 38 GAs prior to winning six in the latest bid round.

Pre-market Movers: GATO, XELA, NXPL, XCUR, MYNZ…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.15 A.M. ET).

In the Green

Exela Technologies, Inc. (XELA) is up over 35% at $0.75
NextPlat Corp (NXPL) is up over 29% at $4.50
Exicure, Inc. (XCUR) is up over 23% at $0.20
Vinco Ventures, Inc. (BBIG) is up over 17% at $3.53
JinkoSolar Holding Co., Ltd. (JKS) is up over 14% at $46.82
Amplitude, Inc. (AMPL) is up over 10% at $37.27
Amyris, Inc. (AMRS) is up over 9% at $4.63
Bitfarms Ltd. (BITF) is up over 7% at $3.75
Energous Corporation (WATT) is up over 5% at $1.10

In the Red

Gatos Silver, Inc. (GATO) is down over 39% at $6.20
Mainz Biomed B.V. (MYNZ) is down over 22% at $15.70
F5, Inc. (FFIV) is down over 13% at $190.99
Pintec Technology Holdings Limited (PT) is down over 9% at $0.51
Sonic Foundry, Inc. Common Stock (SOFO) is down over 8% at $3.42
Aptorum Group Limited (APM) is down over 6% at $2.10
BT Brands, Inc. (BTBD) is down over 5% at $2.85