![]() The stock has plunged 54.4% year to date through Monday, while the S&P 500 SPX has gained 7.8%. The company said it has “reprioritized” its business, including focusing on North America, hydrogen fuel cell trucks and autonomous technologies, and is therefore selling its stake in the European manufacturing joint venture to Iveco Group for $35 million in cash and 20.6 million Nikola shares returned to the company. Revenue increased nearly 6-fold to $11.12 million from $1.89 million, but was below the FactSet consensus of $12.88 million. The per-share loss narrowed even as net losses widened as shares outstanding used in calculating per-share results increased by 32.4% to 549.7 million shares. The net loss was $169.1 million, or 31 cents a share, after a loss of $152.9 million, or 37 cents a share, in the year-ago period. NKLA rose 1.5% in premarket trading Tuesday, putting them on track to open at $1 or higher, after the electric vehicle maker reported a first-quarter loss that matched expectations even as revenue fell short. SUBSCRIBE The company now expects adjusted earnings per share. Nikola stock rises toward $1 level after EV maker matches loss expectations but comes up shy on revenue A morning briefing on what you need to know in the day ahead, including exclusive commentary from Barron's and MarketWatch writers. The maximum tolerated dose, which will inform the Phase 2 portion of the trial, had not yet been reached when the hold was imposed. The Phase 1 dose-escalation portion of the trial is designed to evaluate up to six dose levels of seclidemstat. “The FDA’s decision to remove the clinical hold puts us back on track to engage in dialogue with the FDA on various topics relating to further clinical development of seclidemstat and possible registration pathways.,” said David Arthur, CEO of Salarius. Ewing sarcoma typically occurs in children and young adults. The treatment called seclidemstat, was being reviewed in a Phase 1/2 trial and had previously been granted Fast Track Designation, Orphan Drug Designation and Rare Pediatric Disease Designation. Food and Drug Administration has lifted a partial clinical hold on a trial of a treatment for Ewing sarcoma, a rare and deadly form of cancer that occurs in bones or the soft tissue around bones. Salarius Pharmaceuticals Inc.’s stock SLRX soared 33% in premarket trade Tuesday after the company said the U.S. Salarius Pharmaceuticals stock soars premarket after FDA lifts partial clinical hold on trial of treatment for rare form of cancer that starts in childhood
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