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Societal CDMO Inc - SCTL STOCK NEWS

Welcome to our dedicated news page for Societal CDMO (Ticker: SCTL), a resource for investors and traders seeking the latest updates and insights on Societal CDMO.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Societal CDMO's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Societal CDMO's position in the market.

Rhea-AI Summary
Societal CDMO is set to be acquired by CoreRx, Inc., in a deal worth $1.10 per share. The merger will create an enhanced CDMO with capabilities spanning early-stage formulation development through commercial manufacturing and packaging. The transaction is expected to close in the second quarter of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
132.61%
Tags
acquisition
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Rhea-AI Summary
Societal CDMO, Inc. and Benuvia Operations, LLC have entered into a co-marketing agreement to promote each other's complementary contract development and manufacturing services. The companies will specifically focus on leveraging their unique expertise in the area of psychedelics to address the expanding drug development market.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
22.36%
Tags
none
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Rhea-AI Summary
Societal CDMO, Inc. (SCTL) announced the addition of new employees and the approval of inducement stock option grants to purchase 32,630 shares of common stock. The option awards were granted on December 29, 2023, with an exercise price equal to the closing price of the stock on that date and a ten-year term, vesting in equal monthly installments over four years.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
Rhea-AI Summary
Societal CDMO, Inc. (SCTL) reports Q3 revenue of $23.6 million, signs new business agreements, closes public offering raising $8.3 million, and initiates corporate restructuring. The company secured a license to manufacture psychedelic drug products, renegotiated debt terms, closed a public offering, made new board appointments, and initiated corporate restructuring, resulting in annualized savings of $5.5 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.45%
Tags
earnings
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Rhea-AI Summary
Societal CDMO, Inc. will release its financial results for the third quarter of 2023 on November 8, 2023, after the market close. The management team will host a webcast at 4:30 p.m. ET on the same day to discuss the financial results and recent operational highlights. The webcast can be accessed on the company's website and will be available for 30 days.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
conferences earnings
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Rhea-AI Summary
Societal CDMO announces addition of new employees and inducement stock option grants.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.85%
Tags
none
Rhea-AI Summary
Societal CDMO, Inc. announced its participation in the RBC Capital Markets Virtual CDMO Conference. CEO David Enloe will be the featured speaker in a fireside chat on October 2-3, 2023. The webcast will be available on the company's website for 14 days.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.32%
Tags
conferences
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Rhea-AI Summary
Societal CDMO announces strategic restructuring plan to streamline operations and reduce workforce by 26 positions (9%) and eliminate nine open positions. Expected annualized savings of approximately $5.5 million. Majority of cuts impact earlier-stage services. Wayne Weisman appointed as executive chairman to provide oversight on corporate strategy.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.84%
Tags
none
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Rhea-AI Summary
Societal CDMO announces new project expansion agreements with existing customers, indicating revenue growth and trust-building
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.6%
Tags
none
Rhea-AI Summary
Societal CDMO, Inc. closed its underwritten public offering, raising $8.3 million for general corporate purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
12.24%
Tags
offering
Societal CDMO Inc

Nasdaq:SCTL

SCTL Rankings

SCTL Stock Data

114.02M
53.02M
45.32%
57.56%
0.26%
Pharmaceutical Preparation Manufacturing
Manufacturing
Link
United States
Exton

About SCTL

recro gainesville, llc, provides solid dosage form development, clinical and commercial manufacturing, and packaging and logistics services to the global pharmaceutical market. specializing in extended release solid dose and dea controlled substances, recro has the experts to deliver clients’ most complex pharmaceutical development and manufacturing projects in its best-in-class, 97,000-square-foot manufacturing facility. for more information about recro’s flexible cdmo solutions, visit www.recrogainesville.com