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The Hotel Property Investments Ltd (ASX: HPI) share price is slightly lower this morning despite the company’s announcement regarding new pub acquisitions.

The real estate investment company is trading 0.63% lower at $3.16 after the announcement it has expanded its property portfolio.

Investments update

Hotel Property Investments shares are on the slide today despite the company’s latest update.

In a statement to the ASX this morning, Hotel Property Investments advised it has acquired six Queensland assets.

The purchase price for the properties totals $32.7 million, and comprises the following:

• Surf Air Hotel – $10.45 million – Settled May 2021;
• Commonwealth Hotel, Clermont – $3.06 million – Contracted to settle June 2021;
• Grand Hotel, Clermont – $2.78 million – Contracted to settle June 2021;
• Capella Hotel, Capella – $3.34 million – Contracted to settle June 2021;
• Commonwealth Hotel, Roma – $9.78 million – Contracted to settle June 2021; and
• White Bull Tavern, Roma – $3.25 million – Contracted to settle June 2021.

The company tapped into its existing debt facilities to fund the acquisitions.

Hotel Property Investments also stated the weighted average yield of the new acquisitions is 7.75%. The properties have been leased to hospitality and venue management group Australian Venue Company.

The lease agreement has an initial term of 20 years from the acquisition date.

Hotel Property Investment CEO Don Smith touched on the procurement, saying:

The acquisition of these assets demonstrates HPI’s strong relationship with AVC and our ability to transact efficiently to the benefit of all parties.

Hotel Property Investments share price snapshot

Over the last 12 months, Hotel Property Investment shares have travelled in circles. The company’s share price is posting a yearly gain of around 18% but is down almost 3% on year-to-date performance.

On today’s price, Hotel Property Investments commands a market capitalisation of roughly $555 million, with approximately 174 million shares outstanding.

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The Anteotech Ltd (ASX: ADO) share price is pushing higher on Monday morning.

At the time of writing, the surface chemistry company’s shares are 6% to 36.5 cents.

Why is the AnteoTech share price racing higher?

The catalyst for the rise in the AnteoTech share price on Monday has been an announcement relating to its EuGeni platform. This technology provides rapid screening and identification of COVID-19 with a simple lateral flow method using a nasal sample.

According to the release, AnteoTech plans to commence in-house manufacturing in Brisbane to enable the production capability of an additional 12 million test strips per annum. This brings it total test strip production capability now to 32 million per annum.

The company is now progressing discussions with Axxin to increase production of the EuGeni reader and is also reviewing other reader options. This is to enable rapid testing for different market segments.

Discussions with potential partners have begun, with AnteoTech expecting to provide additional updates in the near term.

AnteoTech’s CEO, Derek Thomson, commented: “Our manufacturing strategy will enable AnteoTech to produce tests inexpensively and efficiently. Implementation of lateral flow test strip manufacture inhouse will enable us to produce new products and get them into the market without lengthy technical transfer processes to third parties.This will increase our speed to market and ensure quality.”

“Our current lateral flow test strip capacity from Operon is 20 million lateral flow strips per year. Our initial investment in Brisbane will increase that capacity by an estimated 12 million lateral flow strips per year. We will increase this capability as required as EuGeni test demand across the entire range of tests we produce grows.”

“We are also excited about the prospect of leveraging new cassette assembly and packaging capability around the globe. We are moving swiftly to harness this opportunity to align with the expected increase in demand for EuGeni tests in the future,” hr concluded.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Investors absolutely, positively hate delays. But a delay is exactly what Novavax (NASDAQ: NVAX) gave them in its first-quarter update earlier this month.

Novavax originally expected to file for Emergency Use Authorization (EUA) for its COVID-19 vaccine candidate NVX-CoV2373 in the second quarter of 2021. However, it now anticipates EUA filings in the U.K., U.S., and European Union in the third quarter.

The biotech stock sank nearly 25% on the news. While Novavax’s shares have bounced back somewhat, they’re still not at their previous levels prior to the Q1 update. It’s way too early to count Novavax out, though. Here’s the top reason that the company could still be a huge winner in the COVID-19 vaccine market.

Doubling down

Novavax didn’t just report its first-quarter results on May 10. The company also announced positive data from a preclinical study evaluating a combination of NVX-CoV2373 with its experimental influenza vaccine NanoFlu.

In this preclinical study, ferrets and hamsters were given the NanoFlu/NVX-CoV2373 combo. Researchers observed influenza and COVID-19 antibody levels that were elevated two weeks after a single dose of the combo vaccine. These levels rose two weeks after a second shot.

It was a similar story with the hamsters that received the combo vaccine. The animals had elevated levels of COVID-19 antibodies that were comparable to those observed in other animals receiving the NVX-CoV2373 vaccine alone. The hamsters also had influenza antibody levels comparable to other hamsters receiving NanoFlu alone.

Some hamsters were also directly challenged with the novel coronavirus that causes COVID-19. The animals that received the NanoFlu/NVX-CoV2373 combo vaccine retained their body weight similar to both non-infected animals and those given NVX-CoV2373 alone. Researchers found little or no virus in the upper and lower respiratory tracts of the animals four days after being challenged.

A post-pandemic possibility

Sure, these results were only from a preclinical study. However, there’s a good reason to be optimistic that the combination of the two vaccines could be effective at immunizing against both flu and COVID-19.

It’s quite possible, if not probable, that annual vaccinations will be required for COVID-19. This likelihood is even greater with the emergence of multiple coronavirus variants. The scenario could be similar to what we already have with flu vaccines, which are recommended annually.

From a pragmatic viewpoint, combining flu and COVID-19 vaccines could be just the ticket for increasing vaccination rates. In the 2019-2020 flu season, 48% of American adults were vaccinated. That figure rose to 55% in the 2020-2021 flu season. However, that’s still a relatively low number. Americans would probably be even less likely to be vaccinated if they were asked to receive two different shots.

A combo flu/COVID-19 vaccine would be an answer to healthcare experts’ prayers. And Novavax could be in a good position to provide such a vaccine, one that’s both safe and effective — potentially even more effective than current flu vaccines.

Most likely to succeed?

Moderna announced plans to explore a combination flu/COVID-19 vaccine. Small biotech Vaxess Technologies partnered with Taiwan-based drugmaker Medigen Vaccine Biologics to develop a combined flu/COVID-19 vaccine that’s delivered via a patch.

Pfizer is working with partner BioNTech to develop a messenger RNA (mRNA) flu vaccine. It wouldn’t be surprising if the companies also look to combine their COVID-19 vaccine with their flu vaccine candidate.

Still, at this point, there’s a pretty good argument to be made that Novavax is the most likely to succeed in the race to develop a combo flu/COVID-19 vaccine. Both NanoFlu and NVX-CoV2373 have fared well in late-stage testing. None of the other contenders has promising flu and COVID-19 vaccines as far along in the clinical process as Novavax.

Novavax plans to advance its NanoFlu/NVX-CoV2373 combo vaccine into clinical testing later this year. If the testing goes as well as the efforts with the individual vaccines have, the biotech could be on its way to becoming a huge long-term winner.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The AFT Pharmaceuticals Ltd (ASX: AFP) share price is unmoved in early trading this morning after the company released its latest financial results.

AFT Pharmaceuticals shares finished yesterday’s trading up 1.65% to $4.30 per share.

The pharmaceutical drug manufacturer’s share price has fallen more than 3% over the past 12 months, so let’s take a closer look at the company’s trading results for the FY21 period to 31 March.

AFT Pharmaceuticals report

The Australian pharmaceuticals giant released a positive report overall on the company’s FY21 performance, despite noting several challenges it has faced this financial year.

The company’s highlight was its revenue, which reached a new record of $113.1 million for the 12-month period up to 31 March, up 7% from the $105.6 million in the prior corresponding period.

AFT Pharmaceuticals’ profit after tax was down nearly $4 million, decreasing to $7.8 million down from $12.7 million in the prior year, which the company says “benefited from a one-off gain” of $9.8 million related to the orphan drug
Pascomer.

Its Asian market revenue was also weaker, which the company blamed on the region transitioning towards purchasing higher-margin pharmaceutical products. Meanwhile, the company’s gross profit grew by 1% to $48.8 million from $48.3 million and its total assets jumped by nearly 20%, as the company sought to protect inventory amounts.

AFT Pharmaceuticals is now targeting an operating profit range of $18 million to $23 million for FY22.

AFT Pharmaceuticals management comments

AFT Pharmaceuticals chair David Flacks said there was a sense of deserved optimism around the company:

The 2021 financial year has been one of the more challenging in AFT’s history as business conditions tightened around the world in the wake of the pandemic.

Nevertheless, as we report another year of record revenue and a more than doubling in underlying earnings, we can look back on the year with a sense of achievement.

AFT Pharmaceuticals share price snapshot

Despite its slight losses this past year, the AFT Pharmaceuticals share price remains very close to its 5-year highs, and more than $1 higher than in January 2020.

AFT Pharmaceuticals shares have rocketed by 16% over the past month since the company signed a major US supply deal, but that’s against losses of 15% since 2021 began, as well as its broader 12-month decline.

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The Zip Co Ltd (ASX: Z1P) share price has started the week very strongly.

In early trade, the buy now pay later (BNPL) provider’s shares are up a sizeable 5% to $7.41.

Why is the Zip share price charging higher?

Investors have been buying Zip’s shares this morning following the release of an expansion update.

According to the release, the company plans to enter the European and Middle East markets after acquiring the remaining shares of European BNPL provider Twisto Payments and UAE-based BNPL provider Spotii. Zip had previously bought stakes in both companies.

Management notes that the transactions align with Zip’s global expansion plans and the rapidly accelerating global BNPL opportunity.

It also notes that, as demonstrated through the acquisition of QuadPay, Zip is building its playbook in successfully identifying, completing, and integrating strategic acquisitions. It believes that Twisto and Spotii are now well-positioned to leverage the benefits of this competency and the synergies of a truly global payments organisation.

In addition, Twisto and Spotii are already integrated into Zip’s global Single Merchant Interface (SMI), which provides merchants instant access to 11 countries across five continents.

Twisto Payments

Zip will purchase the remaining shares in Twisto that it does not already own for an amount of ~89 million euros (~$140 million). The completion of the acquisition is expected to occur in the fourth quarter of calendar year 2021.

The acquisition gives Zip access to 27 European Union (EU) countries. Given that the EU is the world’s second-largest ecommerce market with $1.1 trillion annual volume, this is a lucrative market to operate in.

The release explains that over 1 million customers have transacted on the Twisto platform, with an annual run-rate of $12 million revenue and $230 million total transaction value (TTV), and 14,000 merchants.

Flagship merchants in the region include Delivery Hero, Pizza Hut, Gap, New Balance, Yves Rocher and Under Armour. It also has a robust pipeline of sizable merchants thanks to a regional partnership with global fintech leader PayU.

Zip Co-founder and Chief Executive Officer Larry Diamond said: “The acquisition of Twisto shows our commitment to global growth and follows our ‘Coalition of Founders’ model, where we back strong founders with a shared vision and deep cultural alignment in our quest for global payments coverage. We are very much looking forward to adding this strategic geography to our growing footprint and fulfilling global merchant demand. We have been impressed by the Twisto team, their deep customer focus and product set and look forward to working closely with them to deliver on the opportunities we jointly have in front of us.”

Spotii

Zip will purchase the remaining shares in Spotii that it does not already own for US$16 million (~$21 million), implying an enterprise value of ~US$20 million (~$26 million). The completion of the acquisition is expected to occur in third quarter of 2021.

Management notes that the Middle East is one of the fastest-growing ecommerce regions globally, with online spend increasing at 25% annually.

Spotii was only founded in 2020 but has shown early traction with 650 merchants already integrated into the platform. This includes flagship regional brands such as Jashanmal and Danube Home. Total transaction volume has grown at an average of 90%+ month-on-month since inception.

Mr Diamond commented: “The Spotii acquisition is an important step in Zip’s global expansion and international strategy, with Ecommerce in the Middle East on a significant upward trajectory. We have been working with Spotii since our initial investment in December 2020 to broaden our understanding of the BNPL opportunity in the region and have a number of exciting global merchants we are looking forward to activating in the coming months. We also believe there is a large untapped opportunity to bring BNPL to emerging markets where cash on delivery remains a significant merchant challenge, and where the digitisation of retail accelerates.”

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The AGL Energy Limited (ASX: AGL) share price could be stuck at 17-year lows for a while on speculation that it needs to desperately raise cash to complete its much-touted demerger.

The separation of its power generation and retailing businesses is a key plank of the embattled group’s turnaround strategy.

But alas, many experts aren’t convinced management can execute without a large capital injection.

Painful capital raise for the sagging AGL share price

The ideal way to get the extra cash is to do a capital raise, but such a move is unappetising after the AGL share price lost around half its value in the past year. It lost another 0.2% this morning as it traded at $8.31 – close to it’s lowest since 2004.

What’s worse is that UBS estimated AGL will need around $600 million in new cash, reported the Australian Financial Review.

That’s no small raise as the amount would represent around 12% of AGL’s current market cap.

Why AGL needs cash

AGL will need the cash for two primary reasons, according to the experts. The first is to maintain its investment-grade credit rating for both the spin-off and parent entity.

The ability for the group to hold on to its valued credit rating, which gives it access to relatively cheaper debt, is in doubt as UBS cut its wholesale power price forecasts.

This will also affect the Origin Energy Ltd (ASX: ORG) share price, but at least Origin has exposure to rising oil prices through its LNG project.

Demergers and spin-offs are an expensive business

MST Marquee analyst Mark Samter also warned that investors are overlooking balance sheet risks for the separated AGL entities, according to the AFR.

He noted that demergers are an expensive business. The Woolworths Group Ltd (ASX: WOW) split with its alcoholic drinks division Endeavour cost it $280 million. The divorce between BHP Group Ltd (ASX: BHP) and South32 Ltd (ASX: S32) was even more expensive at US$738 million.

“Now, I am sure that their adviser is absolutely chomping at the bit to raise equity for them, and if you raise at a big enough discount with a placement, maybe you can get the institutional shareholders that are so notable by their absence on their register back,” the AFR quoted Samter.

“But as always I struggle to see how these things aren’t mutually exclusive with a valuation anywhere close to the current share price.”

Uncertainty to cap the AGL share price

What’s interesting is that Samter is willing to put his money where is mouth is. He promised to take a half-page ad to apologise if AGL successfully demerged without raising capital and the combined value of the businesses exceeded AGL’s current market cap of $5.2 billion in 12 months.

AGL is expected to provide details on the structure and timing of the demerger by June 30.

In the meantime, it’s hard to see the AGL share price making any meaningful recovery with this cloud over its head.

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The Nuix Ltd (ASX: NXL) share price has started the week in a positive fashion.

At the time of writing, the investigative analytics company’s shares are up 2% to $1.61.

Why is the Nuix share price rising?

Investors have been buying the company’s shares this morning following the release of a board update.

According to the release, Nuix is launching a number of initiatives in response to recent market feedback.

This includes the establishment of an Independent Board Sub-Committee. Nuix believes doing so will ensure the appropriate oversight and review of recent matters raised by market participants.

The release explains that the Independent Board Sub-Committee will comprise of independent directors Hon. Jeff Bleich, Sir Iain Lobban and Sue Thomas. They will work with external advisers and Nuix’s internal legal and risk management functions.

In addition to this, the company revealed that it intends to expand its Board composition from the current five members with the appointment of additional independent non-executive directors.

Nuix has appointed an international search firm to assist in the selection process. Criteria for the appointees will consider an objective to increase diversity and include a preference for Australian-based candidates with experience in relevant areas. This includes areas such as international business, technology, finance and accounting, governance, and risk management.

Chairman commentary

Nuix’s Chair, Jeff Bleich, commented: “The recent Nuix investor day showcased a truly great company with unique and world-class technology and people. In my address I made clear that the Board was listening to the feedback from our shareholders and the market. These initiatives are important building blocks to continue to strengthen corporate governance and achieve our performance objectives.”

“Nuix remains focused on delivering for its customers, maintaining a robust and vibrant corporate culture and achieving its potential. The Company continues to attract and maintain world-class talent and add to its already deep executive bench strength, including the recent hires of a number of senior executives into important client-facing roles,” he added.

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A prominent stock commentator has warned of complacency setting in among retail investors after the spectacular post-COVID share market recovery.

Fidelity International investment director Tom Stevenson especially singled out unconditional optimism as a recipe for disaster.

“Are you becoming more optimistic as the market rises?” he asked in a column on Sharecafe.

“Watch this tendency because the best returns have been achieved by investors who adopt the opposite approach.”

He referred to a former colleague who taught junior fund managers “to become more bullish as the market fell”. 

“Easy to say and very difficult to do,” said Stevenson.

“The growing appetite for risk-taking in obscure and volatile assets like cryptocurrencies suggests people are chasing growth. That’s worrying.”

Invest when you don’t want to

Buying shares when everyone else is selling is the best way to nab returns.

But Stevenson acknowledges this is difficult, even for professionals.

“Are you an emotional investor? This is a silly question. Of course you are – you are a human being.”

The way to remove the emotion out of buying is to do it “regularly and systematically”, according to Stevenson.

“It makes you invest when you don’t want to – invariably the best time to do so.”

Have some cash in hand for volatile times

Aside from quarantining enough cash for day-to-day living and emergencies, Stevenson encouraged punters to set aside some capital during the good times. 

This is so you can buy up when bad times hit.

“If you were fully invested in March 2020 you would have enjoyed the subsequent recovery – but how much better if you could have added to your investments at bargain basement prices?” Stevenson said.

“Having some cash to hand (separate from what you’ve put aside to cover expenses) is essential if you are to benefit from Mr Market’s mood swings.”

How much can you stomach a downturn?

There are many first-time stock investors who are currently experiencing a downturn in their portfolio for the first time.

Stevenson reminded punters accepting the unavoidable share market downs goes hand-in-hand with enjoying the great highs.

But everyone has a different tolerance for volatility.

“You also need to be realistic about what you can, and cannot, live with,” he said.

“How well do you know yourself? Twelve years into a bull market, it is tempting to think that we have a greater tolerance for risk than we actually do. You will find out what your real risk appetite is when your portfolio is worth 30% less than it is today.”

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The Euro Manganese Inc CDI (ASX: EMN) share price is on watch this morning after news of the company’s Chvaletice Project was released. Shares in Euro Manganese closed the last session trading for 47 cents.

The manganese producer has updated the market on its Chvaletice Project, which aims to produce high-quality and environmentally friendly ultra-high-purity manganese for European electric vehicle and lithium-ion battery industries.

The project is located 90 kilometres east of Prague and is expected to be completed in in late 2024 or early 2025.

Euro Manganese’s wholly owned subsidiary, Mangan Chvaletice s.r.o, owns 100% of the Chvaletice Project.

Let’s take a look at the news that could impact the Euro Manganese share price today.

Chvaletice Project update

According to Euro Manganese, the Chvaletice Project’s definitive feasibility study will be completed by the first quarter of 2022.

The study will mean the company will be able to make a final investment decision and secure financing for the project.

However, Euro Manganese warned the project is facing risks from COVID-19 that could impact the company’s ability to meet its upcoming targets.

The news follows the close of the second tranche of an oversubscribed $30 million placement, completed by Euro Manganese earlier this month.

Euro Manganese also announced it’s still in discussions with customers for the project’s high purity manganese products.

It states interest in the project’s products is increasing as it’s the only large manganese resource in the European Union.

Euro Manganese is still working to complete the Chvaletice Project’s last Environmental and Social Impact Assessment. The assessment is also due to be finished in the first quarter of 2022.

The company has engaged with the Czech community and has support from the Czech Government. As a result, it believes none of the project’s stakeholders house any critical concerns.

According to Euro Manganese, previous activities at the Chvaletice Project have contaminated the local ground water. The company says it plans to remove the pollutants and restore the site to “a more natural state”. It hopes the Chvaletice Project will use only recycled, contaminated, and wastewater in its production process. Tests to find if the contaminated ground water could be a water source for the plant are planned.

Finally, the company has bought 97% of the equipment needed to build the Chvaletice Project’s demonstration plant. It states the detailed designs for the plant are progressing well.

Commentary from management

Euro Manganese’s CEO Marco Romero commented on the company’s vision for the Chvaletice Project, saying:

For many prospective customers, the Chvaletice Manganese Project ticks all the boxes.

As a recycling project, we have the potential to be one of the world’s greenest sources of high purity manganese, which will help auto makers and battery manufacturers meet the EU’s increasingly stringent environmental standards. We expect to help the EU meet its decarbonisation goals, while cleaning up a longstanding source of water pollution and creating long-term local employment. There’s no other [high purity manganese] production opportunity like this in the world.

Euro Manganese share price snapshot

In general, the Euro Manganese share price has been performing well on the ASX. Though, after a good start to 2021, it’s been struggling in the past few months.  

Currently, the Euro Manganese share price is up 8.14% year to date. But the price has fallen 47.16% since its 2021 high of 88 cents in mid-January.

Shares in Euro Manganese have also gained 481.25% since this time last year.

The company has a market capitalisation of around $117 million, with approximately 371 million shares outstanding.

More reading

• Why the Euro Manganese (ASX:EMN) share price is up today

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