PRISM Mid-Day Movers: Market Volatility Drives Winners and Losers in Oil & Gas and Biotech Indices

Mammoth Energy Soars 29% on $109M Asset Sale and Aviation Leasing Expansion
Mammoth Energy Services Inc. (TUSK) surged over 29% today, leading the PRISM Emerging Oil & Gas Index after announcing a $108.7 million sale of its infrastructure subsidiaries to Peak Utility Services. The all-cash deal, which includes 5 Star Electric, Higher Power Electrical, and Python Equipment, enhances Mammoth's liquidity profile and marks a strategic shift in the company's growth trajectory.

Alongside the divestiture, Mammoth revealed the acquisition of eight leased commuter aircraft--marking its entry into aviation asset leasing. The company projects this business will be accretive in Q1 2025 and contribute to sustained adjusted EBITDA growth. The deal also positions Mammoth with a strengthened balance sheet, now holding approximately $160 million in cash, and expanded flexibility under an amended credit facility allowing up to $50 million in share repurchases.

Upon the announcement, Chairman Arthur Amron stated: "This transaction unlocks significant value for the Mammoth enterprise. With approximately $160 million in cash on the balance sheet, we are actively exploring opportunities to deploy capital at accretive returns for the Company."

Soligenix Slides 10% Despite Positive Data from FDA-Funded CTCL Study
Soligenix Inc. (SNGX) fell over 10% midday, weighing down the PRISM Emerging Biotech Index, even after announcing encouraging interim results from an open-label study evaluating extended treatment with HyBryte(TM) (synthetic hypericin) for early-stage cutaneous T-cell lymphoma (CTCL).

After 18 weeks of treatment, 75% of patients achieved "Treatment Success," defined as a greater-than or equal to50% reduction in lesion severity scores. The results align with prior positive findings from the Phase 3 FLASH trial and are seen as strong validation for the ongoing FDA-funded study and the upcoming confirmatory FLASH2 trial.

HyBryte's rapid onset of action--delivering clinical improvement within 18 weeks--is a key differentiator versus standard CTCL therapies that often require six months or longer. Importantly, the therapy has continued to demonstrate a favorable safety profile, avoiding DNA-damaging effects associated with other phototherapies and systemic treatments.

Other PRISM Mid-Day Movers:

• NanoVibronix, Inc. (NAOV) up 23.41%
• Theratechnologies Inc. (THTX) up 34.53%
• ReShape Lifesciences Inc. (RSLS) down 14.60%
• Palatin Technologies Inc. (PTN) up 20.42

The post PRISM Mid-Day Movers: Market Volatility Drives Winners and Losers in Oil & Gas and Biotech Indices appeared first on PRISM MarketView.

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