MIAMI, July 6, 2016 /PRNewswire/ --
TechStockInsider.com Briefing: Brexit woes have continued to subside as the market has maintained a more bullish stance this week. Gold and precious metals stocks have also taken interest from the street and uncertainty regarding currencies has remained at higher levels. Even with this being the case, some of the early market movers on Wednesday have been found in the tech space with companies like Twitter, Tesla, Apple, and even Netflix trading on increased volume. Having seen this, we are taking a closer look at several smaller cap yet highly active stocks on Wednesday morning:
Galena Biopharma, Inc. (NASDAQ: GALE) has made headlines over the last few weeks and most notably announcing that its PRESENT trial will be stopped due to futility. "We are extremely disappointed with the outcome of the PRESENT futility analysis," said Mark W. Schwartz, Ph.D., President and Chief Executive Officer. "On behalf of our entire company, I would like to thank all of the courageous patients and their families, investigators, study staff and independent committees who participated in the PRESENT study.
According to the company, the trial has not been un-blinded other than by the IDMC, and management needs to evaluate the data. "We expect to host a conference call next week to provide a preliminary review of the PRESENT trial and an update on all of our immunotherapy and hematology clinical development programs."
Shares of GALE tumbled to lows of $0.275 but have since recovered in a major way after hitting highs on Tuesday of $0.7737. This has marked a total turn around in price by as much as 181% in just a few days.
IDdriven, Inc. (OTC: IDDR) (OTCQB: IDDR) is involved in a segment the SaaS marketplace known as Identity Access Management or "IAM". Manyreports project this segment alone to be valued at north of $24Billion by 2020 (GrandView Research). IDDR has been working to solidify new industry relationships and as of this month the company has announced that Oxford Computer Group has funded and developed a proprietary interface software to be used to seamlessly connect the Company's IDaaS solution with Microsoft's Identity Manager Software program.
According to management, the IDaaS solution couples with Microsoft's (MSFT) software to provide users with a complete identity access, cloud, and mobile device management solution, which they say is unmatched by any of their competitors. Futhermore, management states that this new interface software gives IDdriven a clear competitive advantage and positions them to capitalize on a fast-growing market.
Since hitting lows of $0.192 a few weeks back, shares of IDDR have recovered by as much as 64% as the price has hit highs of $0.315 just last week. Members of management had previously be integral pieces in the development and turnaround of BHOLD BV, a Netherlands-based Access and Identity Management software company. The BHOLD software program and IP were sold to Microsoft in 2011 for a "substantial (undisclosed) sum" and MS supports that program to date.
This morning the company announced that it has partnered with a leading reseller of enterprise technology specializing in Identity Access Management, Zeva Inc. Furthermore, the Company noted that with its wholly owned European subsidiary headquartered in Netherlands, the center of the European Union, it is well positioned to do business with the EU's 27 members following the UK's exit.
LifeClips Inc. (OTC: LCLP)(OTCQB: LCLP) has made some of its biggest updates within the last few weeks. LCLP revealed the company's current list of retailers included for the soft launch of its Mobeego® single use charging device. Outlets include B & H Photo Video in New York City as well as several outlets in MGM properties in Las Vegas, NV. "Welcome to the U.S.A Mobeego®!," said CEO Bob Gruder. "I would like to thank our shareholders, distributors & our entire team for making this possible. Mobeego® is a revenue producing, recognizable brand in 14 different countries & it's time the United States gets its fair share of the pie."
This was followed up last week with an announcement that the company signed an exclusive distribution agreement with Cities Market for action camera distribution into BestBuy, Target, and inclusion within their respective online retail "storefronts". On top of this, the company announced this morning that it would also be developing a new line of 360-degree action cameras to be scheduled for release in August of 2016.
The activity brought from company announcements has helped to propel the stock from trading between $0.40 and $0.50 to recent highs of $0.70. Today's announcement could be the first step in opening an entirely new line of products for the company has 360-degree cameras have begun to gain much more popularity on outlets like social media and news sites.
Arch Therapeutics (OTC: ARTH) (OTCQB: ARTH) announced at the beginning of June that it had completed its patient enrollment in the clinical study of its AC5 Hemostatic Device. The company has focused the device on the control of bleeding and fluid loss in order to provide quick and safe surgical care. The study has been designed to test the performance and safety in humans and is being done in collaboration with CÚRAM, Science Foundation Ireland Centre for Research in Medical Devices and the Clinical Research Facility based at National University of Ireland Galway.
Since making the announcement, the company's stock price has skyrocketed from $0.41 to as high as $0.68 on Tuesday. With the company anticipating to report follow-up assessment of the 46 patient study within "30days", the time is getting closer to that next piece of information with today being 30 days since the June 6 announcement.
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