Daily Stock Update: 2023-06-27
In today’s blog post, we’ll discuss the latest financial results and operational highlights for some of the top stocks in my portfolio. LiveOne, Medicenna, Aemetis, and Beyond Air® all reported noteworthy events that could impact their stock prices moving forward. Keep reading to find out more
LiveOne’s PodcastOne Anticipates Record-Breaking Fiscal Year 2024 Revenue
LiveOne’s PodcastOne, a leading podcast network, has raised its revenue guidance for fiscal year 2024 to $40M-$45M, with a projected revenue of over $10.5 million in Q1 Fiscal 2024. Meanwhile, LiveOne’s audio division saw a 289% increase in revenue YoY and a positive Adjusted EBITDA of $18.2M in Fiscal Year 2023. The company’s Q4 Fiscal 2023 revenue of $22.9M and Adjusted EBITDA of $4.5M marks an 89% increase from the previous year.
As a blogger who owns stocks in LiveOne, I am thrilled to see the continued growth of PodcastOne, which has over 3.1 million members, including 2.2 million paid members. With anticipated paid memberships to exceed 3 million by the end of Fiscal Year 2024, the company’s revenue growth is likely to continue. Additionally, LiveOne’s audio division’s remarkable 289% YoY increase in revenue is a positive trend and demonstrates the company’s strong performance in the market.
Given the positive outlook for LiveOne’s PodcastOne and audio division, I recommend holding onto the stock. Investors should take note of LiveOne’s repurchase of 2.9 million shares, showing a continued commitment to its shareholders. Moreover, the company’s merger with Slacker and Roth CH Acquisition V Co., expected to value Slacker at $160 million pre-money, further strengthens its position in the industry.
Overall, LiveOne’s impressive results and promising guidance are a good sign for investors and indicate that the company is moving in the right direction towards sustained growth.
Medicenna Reports Positive Results for MDNA11 Clinical Trial, Finalizes Plan for Phase 2 ABILITY Study Expansion
Medicenna Therapeutics Corp. (NASDAQ: MDNA TSX: MDNA), a clinical-stage immunotherapy company, has reported positive results for MDNA11, a treatment for end-stage cancer patients. The drug demonstrated “durable single-agent activity” in a pancreatic cancer patient, with partial response continuing for over 40 weeks and stable disease for over 70 weeks as a third-line treatment in a patient with metastatic melanoma. Medicenna also reported that the Phase 2 ABILITY study’s single agent dose expansion portion is expected to commence in calendar Q3 2023.
The company currently has $33.6 million in cash and cash equivalents as of March 31, 2023, expected to provide “runway through key milestones” of the ABILITY study and through calendar Q3 2024. A clinical update on MDNA11 is anticipated during calendar Q3 2023, for all dose escalation patients including high dose cohorts five and six including outcomes from safety review committee.
In my opinion, the positive results for MDNA11 bode well for the future of Medicenna. The fact that the drug demonstrated single-agent activity in heavily pre-treated end-stage cancer patients is highly encouraging. The results also indicate that the drug has the potential to demonstrate positive attributes and could potentially be a successful treatment option for many patients. Additionally, the upcoming Phase 2 ABILITY study expansion will allow for further testing and validation of the drug. Based on this positive news, I recommend buying the stock of Medicenna.
Aemetis Biogas exceeds RNG production plan, generating low carbon fuel to reduce dependence on petroleum-based fuels
Aemetis Biogas, the subsidiary of renewable fuels company Aemetis, has announced that its Central Dairy Project facilities are operating 24/7 having recorded a 20% over-target production volume in the second quarter of 2023. Through the operation of seven dairy digesters, a 40-mile biogas pipeline and centralized Biogas-to-RNG facility, Aemetis Biogas is producing renewable natural gas (RNG) for use in trucks, buses, and cars, thereby reducing dependence on petroleum-based fuels and lowering carbon emissions. The excess production is significant as it coincides with a surge in demand for D3 Renewable Identification Numbers (RINs) generated by RNG, following the announcement by the federal EPA of the Renewable Volume Obligation for years 2023, 2024, and 2025. The price of D3 RINs has already increased 30% to $2.85 since the RVO was announced.
The formation of Aemetis Biogas in 2018 followed the enactment of legislation by Governor Newsom in California limiting emissions of methane from dairy lagoons. Focus has been placed on the 80 dairies supplying milk for cheese production and the 1,000 other dairies containing around 1.7 million cows in total. Through production of RNG, Aemetis Biogas has realized the opportunity to reduce dependence on petroleum-based fuels while significantly minimising methane emissions.
In view of the increased demand for RNG and the promising news from Aemetis Biogas, it is advisable to continue holding on to the company’s stocks. The production of RNG not only addresses the issue of carbon emissions, but it also presents an opportunity for a significant earnings boost for Aemetis Biogas as demand for D3 RINs increases.
Beyond Air Successfully Completes Phase 1 of LungFit PH Commercial Launch
Beyond Air (NASDAQ: XAIR) is a commercial stage medical device and biopharmaceutical company that focuses on using endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders, and solid tumors. The company has recently announced the successful completion of phase 1 limited commercial launch of LungFit PH in the United States, with multiple hospitals contracted. The team has initiated phase 2 of launch for LungFit PH, which aims to improve the treatment of term and near-term neonates with hypoxic respiratory failure.
According to a press release, Beyond Air has also presented positive preclinical data for ultra-high concentration nitric oxide (UNO) therapy in solid tumors during the American Association for Cancer Research (AACR) 2023 annual meeting. Moreover, the company has secured up to $40 million debt financing and has licensed commercial rights to selective neuronal nitric oxide synthase (nNOS) inhibitors for the treatment of autism spectrum disorder and other indications from Hebrew University of Jerusalem.
The company’s chairman and CEO, Steve Lisi, stated, “We are the leader in nitric oxide research as evidenced from our robust pipeline of revolutionary LungFit systems, the development of ultra-high concentration NO to treat solid tumors, and now the development of nNOS inhibitors to treat autism and potentially other neurological conditions.”
In my opinion, Beyond Air’s progress in its phase 1 and phase 2 of commercial launch for LungFit PH is a significant milestone for the company. The positive preclinical data presented for UNO therapy is a promising development for the company’s latest technology aimed at treating solid tumors. Moreover, the licensing of commercial rights for nNOS inhibitors for the treatment of autism and other indications represents a potentially lucrative market for Beyond Air. Overall, I believe that the company’s recent achievements are positive news, and I recommend buying the stock.
LiveOne’s Partnership with Tesla Fuels Further Growth; 4 Million Members and Counting
LiveOne, a creator-first music, entertainment, and technology platform, announced today that its total paid and ad-supported members have reached over 4 million, with over 2.2 million paid members. The company has witnessed explosive growth since the start of the year, adding 350,000 new paid members since January 1st, helped in part by their continued partnership with Tesla. LiveOne has partnered with the electric vehicle (EV) giant for nine years, delivering a streaming music service to Tesla owners that includes a library of 30 million songs, 600 curated radio stations, and over 300 podcasts and vodcasts.
The partnership has been a significant driver of growth for LiveOne, with nearly all new Tesla EVs sold in the U.S. now coming with a paid membership to LiveOne’s Slacker Radio (which now includes PodcastOne). And it doesn’t look like this growth will be slowing any time soon.
As a shareholder in LiveOne, I am optimistic about the company’s prospects and bullish on its stock. The company’s expanding distribution of PodcastOne from 1 million to over 1.4 million automobiles, combined with its substantial buyback of 2.9 million shares, shows that management is focused on delivering value to shareholders.
With the company’s dedication to delivering premium experiences and content worldwide through memberships and live and virtual events, LiveOne is well-positioned to continue its growth trajectory. And with the continued partnership with Tesla, LiveOne is poised to benefit from the ongoing shift towards electric vehicles and the increasing popularity of streaming services.
In conclusion, LiveOne’s latest announcement shows that the company is firing on all cylinders. The growth in its membership base, the expanding distribution of PodcastOne and its continued partnership with Tesla are all positive signs for the company’s future prospects. As a shareholder, I recommend holding onto the stock and being patient, as LiveOne has shown that it is a company with significant potential for long-term growth.
