MIAMI, July 28, 2016 /PRNewswire/ --
TechStockInsider.com Briefing: The Fed held its two-day meeting this week and after much deliberation, the decision has been made to leave rates where they are for right now. The guidance came after identifying that the current economic state is still relatively unstable while the outlook for the global economic unrest mainly rippling from Brexit have still some uncertainty. Despite this outlook on the economy, the decision actually has spurred interest in many stocks this morning with many "bottomed out" equities seeing price reversals including:
Life Clips, Inc. (OTC: LCLP) (OTCQB: LCLP), which is a lifestyle brand focused on "capturing life's moments" through a mix of electronics and charging devices. The flagship Solo Vu 4K action camera is pitted directly against higher priced competitors like GoPro to offer a much more affordable and higher quality action camera. Life Clips also holds ownership of Mobeego, a single use electronics charger or "energy shot" for your devices like smart phones and action cams.
This morning the company announced that it has reached a distribution agreement with Mr. Checkout Distributors. The agreement essentially allows Life Clips the access to roughly 35,000 store around the United States. Furthermore, Mr. Checkout has a long list of big box channel partners like Wal Mart, Kmart, Home Depot, and more. Since making the announcement this morning, shares of LCLP have recovered by as much as 14.6% since Wednesday's closing price.
Evoke Pharma (NASDAQ: EVOK) has also seen a stronger rally in price since drastically gapping down a few weeks back. Since reporting abnormal results from a Phase 3 clinical trial of the company's EVK-001, the stock has struggled a bit but recent news that EVOK received conditional FDA acceptance of a proposed brand name for EVK-001 seems to have revived the stock. On Thursday morning, shares of EVOK saw highs of $3.09 and marked a recovery of more than 100% from July lows of $1.52.
The FDA has conditionally accepted the proprietary brand name, "Gimoti," for the Company's product candidate, EVK-001 (metoclopramide nasal spray). A request for proprietary name review for Gimoti will be included if and when Evoke submits a New Drug Application for the product candidate.
SkyPeople Fruit Juice, Inc. (NASDAQ: SPU) has seen much more irregular trading this month and Thursday has been no different. The company is a producer of fruit juice concentrates, beverages, and fruit-related products. This morning SkyPeople announced that it has formed SkyPeople International Trading Ltd. The subsidiary has been incorporated in Hong Kong and will operate as a global trading and marketing platform to optimize SPU's hedetang fruit juice portfolio.
So far, shares of SPU have moved up in price by as much as 38% from Wednesday's low.
Last but not least, Eleven Biotherapeutics (NASDAQ: EBIO) has once again captivated investors' attention this week. Since Monday's opening bell, the stock has climbed by as much as 71% following today's morning high of $4.49. Less than a month ago, EBIO announced that the company's Investigational New Drug application for EBI-031, a humanized monoclonal antibody that potently binds interleukin-6 (IL-6) and inhibits all known forms of IL-6 cytokine signaling, for treatment of ocular diseases, has become effective. The best part is that as a result of this milestone, EBIO is entitled to receive $22.5m from F. Hoffmann-La Roche Ltd. and Hoffmann-LaRoche, Inc. based on their licensing agreement.
Under the terms of the agreement, Eleven could receive up to $262.5 million upon the achievement of certain regulatory, development and commercialization milestones, including this $22.5 million payment
DISCLAIMER: TechStockInsider.com is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with TechStockInsider.com or any company mentioned herein. The commentary, views and opinions expressed in this release by TechStockInsider.com are solely those of TechStockInsider.com and are not shared by and do not reflect in any manner the views or opinions of FNM. The companies that are discussed herein may or may not have approved the statements made in this release. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
SOURCE FN Media Group, LLC