Stockwinners Market Radar for April 10, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

08:44 EDT Cyclerion closes enrollment on two ongoing clinical studies - Cyclerion Therapeutics announced that it recently closed enrollment for both of its ongoing clinical studies. The company said, "We are looking forward to a catalyst-rich period in the coming months with top line results from both our translational pharmacology study for IW-6463, our brain-penetrant sGC stimulator designed to treat neurodegenerative diseases, and our olinciguat Phase 2 study for sickle cell disease. We also continue discussions on the out-licensing of praliciguat, a potential best-in-class therapeutic candidate for cardio-metabolic diseases. Recent published outcomes data from other groups provide compelling new support for the use of the sGC stimulator class in treating cardiometabolic diseases." It added, "The Company is tightly managing its spending. As of March 31, 2020, Cyclerion's preliminary unaudited cash, cash equivalents and restricted cash balance was approximately $72 million. Cyclerion anticipates that this cash will fund its operations into Q2 2021, excluding net cash flows from potential business development activities...The Company cannot give any assurances as to the potential impact of the pandemic on its operations, clinical trials, corporate development discussions and other activities. Cyclerion is working closely with its clinical trial sites and investigators to deliver its ongoing and planned trials in a manner consistent with the safety of study participants and healthcare professionals. Cyclerion does not anticipate any drug product disruption for its clinical trials and is taking steps to mitigate any disruptions of clinical supply materials to trial participants."

08:39 EDT RTI Surgical says revenue for some invoices should have been recognized later - RTI Surgical disclosed yesterday morning that its Audit Committee concluded that the company will restate its previously issued audited financial statements for the years ended December 31, 2014, 2015, 2016, 2017 and 2018 and its unaudited financial statements for the quarterly periods for 2016-2018 and the nine months ended September 30, 2019. The company "has concluded that revenue for certain invoices should have been recognized at a later date than when originally recognized." It added, "In response to binding purchase orders from certain OEM customers, goods were shipped and received by the customers before requested delivery dates and agreed-upon delivery windows. In many instances, the OEM customers requested or approved the early shipments, but the Company has determined that on other occasions the goods were delivered early without obtaining the customers' affirmative approval. In addition, the Company has concluded that in July 2017, an adjustment was improperly made to a product return provision in the Direct Division. Accordingly, the Company will revise its financial statements to correct these errors and any others as it finalizes the Investigation. The Company and the Audit Committee of the Board of Directors have discussed these matters with Deloitte & Touche LLP, the Company's independent registered public accounting firm."

08:31 EDT Prudential sells Korea Life Insurance Company to KB for $1.9B - Prudential Financial (PRU) announced that it has entered into a definitive agreement with KB Financial Group (KB) to sell The Prudential Life Insurance Company of Korea. Under the terms of the agreement, Prudential Financial will sell 100% of its life insurance business in Korea for cash consideration of $1.9B. "This transaction is consistent with Prudential Financial's strategic focus internationally on Japan and higher-growth emerging markets around the world," the company said in a statement. Completion of the transaction is subject to customary closing conditions, including regulatory approvals, and is expected to occur by the end of 2020. Proceeds of the transaction are expected to be used for general corporate purposes, Prudential added