Intel stock spikes after report of possible US government stake
In a challenging market environment, Maxpro Capital Acquisition Corp. (ticker: APLM) stock has recorded a new 52-week low, touching down at $6.2. According to InvestingPro data, the company maintains a current market capitalization of $7.17 million, with a weak overall financial health score. This latest dip underscores a significant downturn for the company, which has seen its stock value plummet by an alarming 91.23% over the past year. Investors have been navigating a tough landscape marked by this stark decrease, as APLM struggles to regain its footing amidst broader economic pressures and sector-specific headwinds. The 52-week low serves as a stark indicator of the hurdles the company faces as it works to stabilize and improve its market position. While the company holds more cash than debt on its balance sheet, InvestingPro analysis suggests the stock is currently undervalued, with 10 additional ProTips available to subscribers.
In other recent news, Apollomics Inc. announced the results of its Phase 3 bridging trial for the drug candidate uproleselan in China, which did not meet its primary endpoint. The trial involved patients with relapsed or refractory acute myeloid leukemia and aimed to test the safety and efficacy of uproleselan in combination with chemotherapy. The median overall survival for the uproleselan group was 9.3 months, compared to 14.3 months for the chemotherapy-only group, a difference that was not statistically significant. The company expressed disappointment in the trial’s outcome, noting that the results were consistent with a previous global Phase 3 trial by their partner, Glycomimetics, which also failed to meet its primary endpoint. As a result, Apollomics is concluding the uproleselan program and has recognized a write-down of the intangible asset related to the upfront payment for this program. Future expenses for the program are expected to be under $500,000. Apollomics plans to present the full trial results at an upcoming medical conference. The company’s lead program is now vebreltinib, a c-Met inhibitor in a Phase 2 trial for non-small cell lung cancer and other advanced tumors.
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