Skip to main content

March Madness Market Movers: INBS, NCMI, CIFR, IMRX, STI

March 2024 has seen notable advancements from several companies, and this piece will delve into five of these companies in detail. 

Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company best known for providing intelligent, fast, and non-invasive testing solutions. On March 12, 2024, Intelligent Bio Solutions Inc. announced that it had concluded a previously announced private placement of $10.1 million capital raise at $4.55 consisting of 2,223,333 shares of its common stock. Additionally, the company also offered Series H-1 warrants to pick up a maximum of 2,223,333 shares of the common stock and Series H-2 warrants for the same number of maximum common shares. 

National CineMedia Inc. (NASDAQ: NCMI) made headlines on March 18 with the release of its financial results for the fourth quarter and full year of 2023. As the largest cinema advertising platform operator in the United States, National CineMedia Inc.'s fiscal year performance showed a blend of outcomes. While quarterly revenues stayed steady year-on-year at $90.9 million, there was a notable increase in fourth-quarter income. Net income for the fourth quarter reached $23.7 million, a substantial rise from $6.1 million in the same quarter of the previous year. 

Cipher Mining Inc. (NASDAQ: CIFR) garnered attention on March 5, 2024, with the disclosure of its financial outcomes for the fourth quarter and full fiscal year ending December 31, 2023. The announcement highlighted that the fourth quarter marked the initial full quarter with all data centers operating at maximum capacity. Furthermore, Cipher Mining Inc. stated in the press release that it achieved robust positive net income on both GAAP and non-GAAP bases during the fourth quarter. The company attributed its strong performance to robust unit economics.

Immuneering Corporation (NASDAQ: IMRX) is a clinical-stage oncology company focused on advancing and commercializing universal RAS and RAF medications for a broad range of cancer patients. The company gained attention on March 14 when it disclosed the top-line findings from Phase 1 of its Phase 1/2a clinical trial for IMM 1 104, its product. The firm announced that the initial findings from the clinical trial showcased promising and optimistic outcomes. There was notable tumor activity observed, and the product was well-tolerated by the group of patients with treatment resistance. Immuneering Corporation highlighted that the data collected until the February 20, 2024, endpoint was indeed promising.

Solidion Technology (NASDAQ: STI) experienced significant gains on March 18, with its stock being among the top performers due to intense trading activity. At one juncture, over 2.3 million shares of Solidion Technology were traded, close to its average daily trading volume of 2.8 million shares. This surge in stock activity wasn't unexpected, considering the notable rally observed on the preceding Friday, during which the stock surged by 33.9%.


Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors with a safe harbor with regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, and assumptions about future events or performance are not statements of historical fact and may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. TheStreetReports (TSR) is responsible for the production and distribution of this content."TSR" is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. "TSR" authors, contributors, or its agents, may be compensated for preparing research, video graphics, podcasts and editorial content. "TSR" has not been compensated to produce content related to "Any Companies" appearing herein. As part of that content, readers, subscribers, and everyone viewing this content are expected to read the full disclaimer in our website.

Media Contact
Company Name: The Street Reports
Contact Person: Editor
Email: Send Email
Country: United States

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.