PRFX

Expansion into Smart Energy Management: PainReform Ltd. has officially entered the Smart Energy Management sector following its acquisition of DeepSolar, aiming to leverage AI-driven technologies for optimizing solar energy usage in residential and utility-scale applications.

Strategic Diversification: This move is part of PainReform's long-term strategy to diversify beyond pharmaceuticals and tap into high-growth markets, aligning with global trends towards decentralized and sustainable energy solutions.

Acquisition Announcement: PainReform has successfully acquired DeepSolar, a company specializing in AI-driven software solutions for optimizing solar energy usage, marking a significant step in its diversification strategy into tech-enabled markets.

Market Reaction: Following the acquisition news, shares of PainReform (PRFX) surged by 49.45%, reaching $2.72 in premarket trading.

Business Update: PainReform Ltd. reported a focus on advancing its lead drug candidate PRF-110 for post-operative pain relief while expanding into the clean energy sector through the acquisition of DeepSolar, an AI-driven solar analytics platform, which is expected to enhance revenue growth.

Financial Performance: The company experienced a net loss of approximately $14.6 million for 2024, an increase from the previous year's loss, but has taken steps to ensure compliance with Nasdaq's equity requirements following a recent capital raise and successful acquisition.

Company's Compliance Status: PainReform (PRFX) believes it has regained compliance with Nasdaq's minimum shareholders’ equity requirement of $2.5 million after a recent capital raise and the acquisition of DeepSolar.

Commitment to Standards: The company is dedicated to maintaining compliance with all listing standards and is actively taking measures to ensure its equity remains above the required threshold.

Acquisition Announcement: PainReform Ltd. has successfully acquired DeepSolar, an AI-driven solar analytics platform, marking its entry into the clean energy sector and aiming to leverage DeepSolar's technology for optimizing solar asset management.

Revenue Growth Potential: The acquisition is expected to generate recurring revenue streams through a Software-as-a-Service model, reduce operational costs for customers, and enhance PainReform's market position in the rapidly expanding solar energy market.

Clinical Trial Update: PainReform announced that its Phase 3 trial for PRF-110, aimed at managing post-surgical pain after bunionectomy, did not meet the primary endpoint due to unclear data from the final 24-hour period of the study, despite showing significant pain reduction in the first 48 hours.

Future Plans: The company is focusing on R&D to refine the drug's pharmacokinetics and dynamics based on trial data, while also exploring strategic options to enhance shareholder value amidst ongoing challenges.

U.S. Stock Market Performance: U.S. stocks mostly rose, with the Dow Jones gaining 100 points, while the NASDAQ fell slightly; Carnival Corporation reported better-than-expected earnings, and several companies saw significant stock price changes.

Global Market Trends: European and Asian markets closed lower, with notable declines in major indices, while U.S. consumer sentiment improved and personal income and spending showed modest growth in November.

FedEx Corporation Performance: FedEx shares surged 8.7% in pre-market trading after reporting stronger-than-expected second-quarter results and announcing plans for a full separation of FedEx Freight into a new publicly traded company.

Stock Movements: Several stocks experienced significant pre-market movements, with Aptose Biosciences gaining 80.5% and Molecular Templates tumbling 49.5% following various company announcements and market reactions.

U.S. Stock Market Performance: U.S. stocks rose this morning, with the Dow Jones gaining approximately 200 points and notable increases in the NASDAQ and S&P 500; however, some sectors like health care saw declines.

Economic Indicators: The Philadelphia Fed Manufacturing Index fell significantly, while the U.S. economy showed growth of 3.1% in Q3, existing home sales increased by 4.8%, and initial jobless claims decreased to 220,000.

DocuSign Financial Results: DocuSign, Inc. shares surged 14.1% in pre-market trading after reporting third-quarter revenue of $754.8 million and adjusted earnings of 90 cents per share, both exceeding analyst expectations.

Pre-Market Stock Movements: Various stocks experienced significant fluctuations in pre-market trading, with Universe Pharmaceuticals gaining 196.2% and Oriental Rise Holdings dropping 81.2%, highlighting a volatile market environment.

U.S. Stock Market Performance: U.S. stocks mostly declined, with the Dow Jones dropping over 150 points while the NASDAQ saw a slight increase. Initial jobless claims rose to 224,000, exceeding market expectations.

Sector Movements and Global Markets: Energy shares increased by 0.8%, while materials fell by 0.8%. European and Asian markets generally closed higher, contrasting with the mixed performance of U.S. commodities like oil and gold.

U.S. Stock Market Performance: U.S. stocks showed mixed results with the Dow Jones falling 0.12%, while NASDAQ rose slightly by 0.04%. Kroger reported disappointing sales, leading to a narrowed earnings guidance for FY2024.

Global Market Trends: European shares mostly increased, and Asian markets closed higher overall. Meanwhile, U.S. jobless claims rose to 224,000, and the trade deficit decreased to $73.8 billion in October.

Verint Systems Financial Performance: Verint Systems Inc. shares surged 23.2% in pre-market trading after reporting a significant increase in third-quarter earnings, with adjusted earnings rising to 39 cents per share from 12 cents and sales increasing to $224.193 million.

Market Movements: Several stocks experienced notable pre-market gains, including PainReform Ltd (up 161.5%) and Five Below, Inc. (up 13.8%), while others like bluebird bio, Inc. saw a sharp decline of 38.2% following a reverse stock split announcement.

Trading Halt: PainReform (PRFX) Ltd has had its trading halted due to pending news, indicating potential significant developments regarding the company.

Recent Developments: The company has faced challenges including a noncompliance notification from Nasdaq and issues related to its drug development trials, specifically for PRF-110.

U.S. Stock Market Performance: U.S. stocks declined towards the end of trading, with the Dow Jones falling over 100 points and notable drops in the NASDAQ and S&P 500, while health care shares saw a slight increase.

Global Economic Indicators: European shares closed lower, construction output in the Eurozone fell, and Japan's trade deficit decreased, while U.S. mortgage applications rose and crude oil inventories increased beyond market expectations.

U.S. Stock Market Performance: U.S. stocks declined mid-session, with the Nasdaq Composite dropping over 100 points, while the Dow and S&P 500 also experienced losses. Energy shares rose slightly, but consumer discretionary stocks fell.

Corporate Earnings Highlights: TJX Companies reported better-than-expected third-quarter earnings, while Quantum-Si and Williams-Sonoma saw significant stock price increases due to positive announcements. Conversely, X3 Holdings and PainReform faced substantial declines in their share prices following negative news.

U.S. Stock Market Performance: U.S. stocks traded mostly lower, with the Nasdaq Composite dropping over 50 points and Target Corporation reporting disappointing earnings, leading to a lowered FY24 outlook.

Global Market Trends: European shares rose, while Asian markets closed mostly higher; additionally, U.S. mortgage applications increased by 1.7% in the week ending Nov. 15.

Clinical Trial Results: PainReform Ltd. announced that its Phase 3 clinical trial for PRF-110, aimed at managing post-surgical pain in bunionectomy patients, showed significant pain reduction over the first 48 hours compared to placebo, although data for the subsequent 24 hours remains unclear and is under review.

Product Overview: PRF-110 is an oil-based, extended-release formulation of ropivacaine designed to provide prolonged pain relief while minimizing opioid use, with potential plans for further trials if the current study proves successful.

Keysight Technologies Earnings Report: Keysight Technologies, Inc. reported better-than-expected fourth-quarter earnings of $1.65 per share and sales of $1.287 billion, leading to a 9.3% increase in its stock price during pre-market trading.

Pre-Market Stock Movements: Several stocks experienced significant changes in pre-market trading, with notable gainers including Tonix Pharmaceuticals (up 63.6%) and Nauticus Robotics (up 59.3%), while PainReform Ltd. saw a decline of 26.4%.

U.S. Stock Market Performance: U.S. stocks showed mixed results, with the Nasdaq Composite rising by 1.03%, while the Dow fell slightly by 0.03%. Medtronic reported better-than-expected second-quarter results and raised its revenue growth outlook.

Global Market Trends: European shares closed lower, with the Eurozone's inflation rising to 2% in October. In Asia, markets were up, led by Japan's Nikkei 225, while U.S. housing starts and building permits declined in October.