Why Oscar Health Stock Is Skyrocketing

 Shares of Oscar Health (OSCR 24.96%) were skyrocketing 23.1% higher as of 11:14 a.m. ET on Friday. The big gain came after the company announced its 2022 full-year and fourth-quarter results following the market close on Thursday.

Oscar Health reported total revenue in the fourth quarter of $995.1 million. The result was roughly double the revenue generated in the prior-year period but fell short of the consensus revenue estimate of $1.18 billion. The technology-focused health insurer posted a Q4 net loss of $226.6 million, or $1.05 per share. This result was better than the net loss of $1.16 expected by analysts.

In addition, Oscar Health provided an outlook for full-year 2023. The company expects direct and assigned policy premiums of between $6.4 billion and $6.6 billion. It projects an InsuranceCo combined ratio (the sum of its medical loss ratio and administrative expense ratio) at or less than 100%. Oscar also thinks that it will deliver a "significantly improved" adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of between $175 million and $75 million.

NYSE: OSCR

Oscar Health

Today's Change

(24.96%) $0.95

Current Price

$4.75

 OSCR

KEY DATA POINTS

Market Cap

$816M

Day's Range

$3.73 - $5.10

52wk Range

$2.05 - $10.53

Volume

6,819,100

Avg Vol

1,280,294

Gross Margin

18.21%

Dividend Yield

N/A

Investors are especially encouraged that Oscar Health appears to be moving in the right direction toward profitability. The better-than-expected net loss in Q4 and the improved adjusted EBITDA guidance for 2023 are positive signs.

It's also good news, though, that Oscar continues to grow its membership robustly. The company's total membership at the end of 2022 was over 1.15 million, up nearly 93% year over year.

Perhaps the most important thing to watch with Oscar Health is its combined ratio. The company's medical loss ratio is declining significantly, indicating that the gap between premiums received and members' medical costs is widening. Oscar's administrative expense ratio is also coming down, reflecting improved productivity.

https://www.fool.com/investing/2023/02/10/why-oscar-health-stock-is-skyrocketing-today/

Hillstream: Greater Tumor Inhibition Combining anti-PD-1 antibody, and Ferroptosis Inducer

 Hillstream BioPharma, Inc. (Nasdaq: HILS) ("Hillstream" or the "Company"), a biotechnology company developing therapeutic candidates targeting drug resistant and devastating cancers using ferroptosis, an emerging new anti-cancer mechanism resulting in iron mediated cell death, and immuno-oncology targeted novel biologics, today announced initial results evaluating the synergy of HSB-1216 with immune checkpoint inhibitors in KRAS G12C-mutated non-small cell lung cancer (NSCLC) cells, Calu-1, with Pembrolizumab, an anti-PD-1 antibody. The study demonstrated significantly greater tumor inhibition of Calu-1 cells, when grown with human PBMCs (SEB-activated) and treated with HSB-1216 and Pembrolizumab.

https://finance.yahoo.com/news/kras-g12c-mutated-nsclc-cell-121700869.html

‘Top Chef’ host predicts changes to restaurant industry with potential gas stove ban

 “Top Chef” host Tom Colicchio predicted that stove manufacturers would likely start accommodating chefs who want to incorporate induction burners into their kitchens amid talk of a ban on gas stoves. 

“You’re going to see a lot of range makers that are going to be [building stoves] so you can get a configuration of, say, four gas burners and two induction burners,” he told the Washington Post. 

Christopher Galarza, a major supporter of electric kitchens, told the outlet that induction cooking saves restaurants money in the long haul. 

“When you’re able to talk about cost savings and talk about the operational efficiencies and how it’s going to benefit the operations, all of a sudden everyone forgets about gas versus electric, and they say, ‘How can I get there?’” Galarza said. “Because right now, working in the kitchen sucks.”

The Washington Post reported Wednesday that the restaurant industry’s commitment to gas stoves is based on “experience, history, marketing, cuisine, aesthetics and sometimes the sheer machismo of cooking over an open flame.” 

US Consumer Product Safety Commission (CPSC) Commissioner Richard Trumka Jr. said during an interview with Bloomberg in January that the federal agency has not ruled out a ban on gas stoves. 

CPSC Chairman Alexander Hoehn-Saric walked back the comments quickly after they were met with fierce backlash. He added that the agency was not “looking to ban gas stoves.”

Tom Colicchio thinks the gas stove ban will change the restaurant industry.

Getty Images

The Washington Post also reported that chefs who specialize in Chinese stir-fry would likely never surrender to induction cooks because cooking on a gas stove top is essential to the way the flavors are developed. 

Chefs are also concerned with the cost of rebuild their kitchens to use electric, according to the Post. 

Colicchio said he was planning to add induction cooktops to his new restaurant in Washington, DC.

Richard Young, the director of education at Frontier Energy’s Food Service Technology Center in California, told the outlet thar he had been trying to upgrade the electrical system in his home. 

“He expects to pay more than $30,000 once finished, and that’s just for a 200-amp panel in a residential home. Restaurants, with larger electrical needs, would pay much more in the Bay Area,” the outlet reported. 

While the CPCS backed away from a ban, some Democratic governors are stepping up with their own push to ban gas stoves in their states. New York Gov. Kathy Hochul pushed for a ban on fossil fuel-based heating equipment that would take effect in 2030 for single-family homes and smaller buildings. However, by 2035 the ban would extend to commercial and larger buildings. 

A New York restaurant owner sounded the alarm on a potential gas stove ban during an appearance on “Tucker Carlson Tonight.”

Stratis Morfogen told Carlson that a ban on gas stoves would “destroy our industry.”

https://nypost.com/2023/02/08/tom-colicchio-says-changes-to-restaurant-industry-with-potential-gas-stove-ban/

Phio: Continued Enrollment of Melanoma Study Without Modification After Recommendation

 Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a clinical stage biotechnology company whose proprietary INTASYL™ RNAi platform technology is designed to make immune cells more effective in killing tumor cells, today announced that an independent Data Monitoring Committee (DMC) completed its prespecified review of interim safety data in the Company's Phase 1b clinical trial of PH-762 for the treatment of advanced melanoma. The trial is ongoing at the Gustave Roussy Institute (Villejuif, France), one of the largest cancer centers in Europe. PH-762 is an INTASYL compound that reduces the expression of cell death Protein 1 (PD-1), a protein that inhibits T cells' ability to kill cancer cells. Decreasing the expression of PD-1 increases the capacity of T cells to kill cancer cells.

https://finance.yahoo.com/news/phio-pharmaceuticals-announces-positive-dmc-123000582.html

Blueprint: Partial Clinical Hold for Phase 1/2 Trial

 Blueprint Medicines Corporation (NASDAQ: BPMC) today announced that the U.S. Food and Drug Administration (FDA) verbally informed the company on February 8, 2023 that it has placed a partial clinical hold on the Phase 1/2 VELA trial of BLU-222 due to visual adverse events (AEs) observed in a limited number of patients. Patients currently enrolled in the trial are continuing on study drug at this time, and additional patients will not be enrolled until the partial clinical hold is resolved.

BLU-222 is currently being evaluated in the Phase 1 dose escalation portion of the VELA trial. Patients have been treated with BLU-222 at doses ranging from 50 mg BID to 800 mg BID to date, with evidence of clinical benefit observed and no discontinuations due to AEs.

The reported visual AEs consisted of transient, reversible episodes of light sensitivity and blurred vision. All events were Grade 1, except one Grade 3 event involving light sensitivity and blurred vision in a patient treated at 600 mg BID. All events resolved with dose interruption or reduction. No treatment-emergent abnormal findings, including uveitis, have been observed in patients who have received detailed ophthalmologic examinations.

https://finance.yahoo.com/news/blueprint-medicines-announces-partial-clinical-130000611.html

Exact Sciences cut to Neutral from Outperform by Credit Suisse

Target to $70 from $50

https://finviz.com/quote.ashx?t=EXAS&p=d

Roche buys back shares as family group reduces voting stake in drugmaker

 

Roche has bought 540,000 of its own shares, the company said on Friday, as a member of its controlling family group scaled back their investment in voting shares at the pharmaceuticals maker.

The Roche Long Term Foundation, which buys shares for the equity component of staff's compensation plans, bought 20% of the 2.7 million bearer shares put up for sale by a member of the Hoffmann-Oeri family.

The total shares on offer were equivalent to 2.5% of the voting equity of the cancer drug maker.

A member of the family shareholding group - heirs of Roche founder Fritz Hoffmann-La Roche - sold part of their stake in the accelerated book build run by UBS.

"Following this transaction, the shareholder group with pooled voting rights owns circa 65% (previously 67.5%) of the issued share capital of Roche," the company said on Friday.

"The bearer shares bought by Roche will be held as treasury shares. These shares will not be canceled."

Roche did not comment on which family member sold the stake, or whether further sales were planned. No details were given of the other buyers of remaining shares offered in the sales.

The shares were bought for 307 francs per share, a discount of 7.6% to the closing share price of bearer shares on Thursday, giving Roche's acquisition a value of 165.78 million Swiss francs ($180 million).

Bearer shares at Roche, which make up 13.2% of the company's share capital, come with voting rights and are traded separately to the more common ordinary shares which carry only a financial interest.

https://www.marketscreener.com/quote/stock/ROCHE-HOLDING-AG-9364975/news/Roche-buys-back-shares-as-family-group-reduces-voting-stake-in-drugmaker-42950761/