Tarsus Pharmaceuticals Stock Slips 12%

Car crashes through Thornton building, causes major property damage

Thornton police are investigating a car crash that went through a building, causing major property damage overnight.

The crash occurred in the 9100 block of Russell Boulevard and no injuries were reported.

The Thornton Police Department said that alcohol may be a factor, but the investigation is ongoing.

The roadway was closed for cleanup for about two hours but has since reopened.

Vertex Pharma Issues Updates On Phase 1/2 Trial Of VX-880; FDA Places Clinical Hold

Vertex Pharmaceuticals Incorporated (VRTX) issued updates on its phase 1/2 clinical trial of VX-880, an investigational stem cell-derived, fully differentiated pancreatic
islet cell replacement therapy for people with type 1 diabetes with impaired hypoglycemic awareness and severe hypoglycemia. The Independent Data Monitoring Committee reviewed the totality of the safety and efficacy data from the first two patients dosed in part A of the study and recommended advancement to part B, where patients receive the full target dose of VX-880. The company noted that the first patient to receive the full target dose has achieved the day 29 follow-up milestone. VX-880 has been generally well tolerated to date.

Vertex Pharmaceuticals also announced the VX-880 phase 1/2 study has been placed on
clinical hold in the U.S. by the FDA due to a determination that there is insufficient information to support dose escalation with the product.

Denver trash fire billows smoke over I-70, closes Holly Street

A trash fire near Ivy Street on Monday morning in Denver has closed Holly Street from 46th Avenue to 48th Avenue, Denver police said.

Thick smoke from the fire is visible from Interstate 70 and firefighters are working to put out the flames, Denver7 reported. The fire appears to be coming from a metal recycling lot.

Global Cord Blood Fall Continues

Global Cord Blood Corp. (CO) shares are losing more than 31 percent on Monday morning trade continuing a decline for the last several weeks. The shares witnessed a fall since it announced its entry into the Cell Therapy market and an agreement to acquire Cellenkos and its product rights.

Currently, shares are at $2.27, down 33.80 percent on a volume of 243,463. For the 52-week period, the shares have traded in a range of $2.40-$6.31 on average volume of 157,461.

Akoustis Technologies Stock Gains 7% As It Ships Second XBAW Filter Design To Customer

Shares of Akoustis Technologies, Inc. (AKTS) are gaining over 7% on Monday morning after the company announced that it has shipped second XBAW filter design in company’s new wafer-level-package to tier-1 5G mobile customer.

AKTS is currently trading at $4.78, up $0.34 or +7.6577%, on the Nasdaq. The stock opened its trading at $4.50 after closing Friday’s trading at $4.44.

Akoustis said it has shipped the second of two filters which are currently in development for a multi-billion-dollar tier-1 5G mobile RF component OEM customer. Akoustis also received a purchase order to optimize the previously produced first filter design.

Itron Q1 Profit Declines, Yet Beats Estimates

Itron Inc. (ITRI) Monday announced a decline in first-quarter net profit for the first quarter compared to the prior year as revenues were down.

The company posted quarterly profit attributable to the company of $906 thousand or $0.02 per share compared to $12.60 million or $0.30 per share in the previous year.
On an adjusted basis, earnings were $0.11 per share.

On average, 10 analysts polled by Thomson Reuters were looking for $0.10 per share. Analysts estimates usually exclude special items.

Revenue for the first quarter were $475.33 million, while it was up $519.57 million last year.

SoundHound AI Stock Surges 50%

Shares of SoundHound AI, Inc. (SOUN), which went public last Thursday after a merger with SPAC company Archimedes Tech SPAC Partners (ATSPU) surged over 50% on Monday morning after sliding in its first two days of trading.

SOUN is currently trading at $9.91, up $3.41 or 52.46%, on the Nasdaq, on a volume of 2.3 million shares, above average volume of 143 thousand. The stock has traded between $5.75 and $12.37 in its few days of going public.

Archimedes stockholders approved the merger on April 26. The companies announced plans to combine in November through a deal that valued SoundHound with a pro forma enterprise value of around $2.1 billion.

SoundHound AI develops voice-enabled artificial intelligence and conversational intelligence technology solutions. Its products include Hound, a voice-enabled search engine and SoundHound, a music search and discovery solution that identifies songs, plays music and lyrics, and allows users to share music and entertainment content.

Cooking Delicious Vegetarian Food: A Virtual Event

The chef and writer Samin Nosrat will speak with The Times’s Tejal Rao and Emily Weinstein, who will also offer guidance on readers’ vegetarian home cooking challenges.

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Tarsus Pharmaceuticals Stock Slips 12%

Shares of Tarsus Pharmaceuticals, Inc. (TARS) are slipping over 12% on Monday morning after the company announces data from Saturn-2 phase 3 trial of TP-03 for the treatment of demodex blepharitis and said it expects to file a New Drug Application this year.

TARS is currently trading at $16.00, down $2.31 or 12.62%, on the Nasdaq. The stock opened its trading at $16.87 after closing Friday’s trading at $18.31. The stock has traded between $14.38 and $16.95 in the past 52 week period.

Tarsus Pharmaceuticals announced that TP-03 met the primary endpoint and all secondary endpoints in the Saturn-2 pivotal Phase 3 trial with a favorable safety profile, reinforcing its ability to resolve Demodex blepharitis, a highly prevalent eyelid disease.

With the positive results, Tarsus plans to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) in the second half of 2022.