Emerging EV producer Mullen Automotive, Inc. (NASDAQ: MULN) is trying to make a comeback after losing nearly half its value this year. That effort was aided by an apparent short squeeze that saw the company shares quadruple over a 2-week period last month. Short interest in Mullen shares continues to hover around 25% of the available shares and some investors are wondering if another short squeeze may be around the corner.
A high short interest ratio has been a strong indicator that meme stock investors will be interested. Plus, according to the data, the short interest in MULN may be on the rise. At the same time, MULN stock is in the top twenty stocks currently being discussed on Reddit. Short-selling specialist Hindenburg Research has alleged that Mullen lied about its battery technology and performance metrics. Per Hindenburg, Mullen claimed that “its solid-state battery technology is on track for commercialization in 18 to 24 months putting it ahead of every major technology and automaker in the industry who have collectively invested billions on solving the problem.”
Investors will want to conduct their own due diligence on MULN stock before taking the guidance of any party, especially if the party has a financial interest in seeing shares go one way or the other.
Last week, Sunshine Biopharma, Inc. (NASDAQ: SBFM) announced that two of its newly designed mRNA molecules are effective at destroying cancer cells grown in culture and the company shares gained significantly on the news. Dr. Steve Slilaty, CEO of Sunshine Biopharma said, “The potential use of mRNA to treat cancer opens the door to many possibilities for patients including convenience, reduced toxicity and enhanced efficacy.”
The cytotoxicity tests were performed on a variety of cancer cells including multidrug resistant breast cancer cells (MCF-7/MDR), ovarian adenocarcinoma cells (OVCAR-3), and pancreatic cancer cells (SUIT-2). Toxicity studies using non-transformed (normal) human cells (HMEC cells) showed that these mRNA molecules had little or no cytotoxic effects. These new mRNA molecules are readily adaptable for delivery into patients using the mRNA vaccine technology. The Company anticipates filing a patent application in connection with these results soon.
Northwest Biotherapeutics, Inc. (OTCQB: NWBO) a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, after spending years in preparation, is now operating under the UK Medicines and Healthcare Products Regulatory Agency (MHRA) license for manufacture of GMP (clinical grade) cell therapy products. The company is in production of its first dendritic cell cancer vaccine.
The first vaccine production for compassionate use treatment for a glioblastoma patient has now begun in their new Sawston facility. The Company anticipates that Phase 1A of the Sawston facility will have the capacity to produce cancer vaccines for 450-500 patients per year. The Company plans to continue developing the Sawston facility in phases, both to calibrate the capital expenditures with the capacity needed and to leave room for implementation of innovative technologies such as the Flaskworks system.
The giant home mortgage servicing company, Mr. Cooper Group Inc. (NASDAQ: COOP) recently announced an agreement with Sagent M&C, LLC, d/b/a Sagent Lending Technologies. Under the terms of this transaction, Sagent purchased certain intellectual property rights related to Mr. Cooper’s proprietary, cloud-based technology platform for mortgage servicing, and Mr. Cooper has received an equity stake in Sagent and appointed two directors to Sagent’s board. This agreement will leverage Mr. Cooper’s mortgage servicing depth and Sagent’s software innovation speed to create the industry’s first cloud-native, homeowner-first servicing platform. Mr. Cooper will also become a multi-year customer of Sagent.
Sagent powers America’s top bank and nonbank lenders to engage, care for, retain, and modernize the homeownership experience for millions of borrowers. Servicers use their flexible, scalable, and configurable solutions to engage borrowers and earn customer loyalty, lower servicing costs, ensure compliance, and increase the value of servicing rights throughout full market cycles.
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