Ladies and gentlemen, we present to you our newest Stock Challenge Champion: member ‘Scott’! Scott led this month’s challenge by a wide margin for almost the entire month, finishing strong with a final return of 88.93%.
While it’s true that November’s challenge was more or less “smooth sailing” for Scott, this month’s second-place winner, ‘micronta’, certainly gave him a run for his money in the final week of the challenge. Between November 25th and 29th, micronta’s second pick, ASLAN Pharmaceuticals, broke out 198.44% from C$1.28 to C$3.82! In the end, micronta finished with a solid return of 72.25% while our third-place winner, member ‘Brice’, finished with a return of 33.21%.
Congratulations everyone, your prizes will be sent out shortly… now let’s get to the post-game review!
So how exactly did Scott pull off such a spectacular win this month? For starters, he doubled down on the pharmaceutical sector, picking Agile Therapeutics and Aquestive Therapeutics.
At the beginning of the month, Aquestive announced Q3 2019 financial results in which it raised its guidance for 2019.
Via Aquestive Therapeutics,
“Aquestive is raising its full year revenue and earnings guidance and updating its financial outlook for 2019. The Company expects:
- Total revenues of $45 million to $47 million;
- Non-GAAP gross margins of 67% to 69% on total revenues;
- Non-GAAP adjusted EBITDA loss of $49 million to $50 million; and
- Cash burn of approximately $60 million to $65 million after considering interest, capital spending and working capital effects, but prior to any additional non-dilutive capital transactions.”
Price action for Aquestive continued throughout the month, spurred along by the announcement that the company had received FDA approval for its Exservan™ (riluzole) Oral Film.
Via Aquestive Therapeutics,
“We received full FDA approval for Exservan in advance of our PDUFA action date. We appreciate the ongoing feedback from the FDA and its early-action approval. We anticipate that Exservan, via our orally administered PharmFilm® dosage form, will bring meaningful treatment to patients who are diagnosed with ALS and face difficulties swallowing or administering traditional forms of medication,” said Keith J. Kendall, Chief Executive Officer of Aquestive . . .
Well played Scott, well played indeed!
Honorable Mention of the Month: Member ‘Micronta‘
The honorable mention of the month goes to our aforementioned second-place winner, Micronta. Be proud, Micronta! You left it all on the field this month.
The Last Stock Challenge of the Decade is Here…
Now, for what we’ve all been waiting for… the December 2019 Stock Challenge! With a 1-ounce gold maple leaf coin (approximate value CAD$2000) up for grabs in addition to the original first, second, and third place prizes, Stock Challenge is going out with a bang in 2019. There’s a lot on the line in the December 2019 Stock Challenge… and we can’t wait to see how it all turns out!
Enjoy your weekend, Stock Challengers. We’ll see you back in the arena on Monday!