LiveVox to Become Public Company Following Business Combination With Crescent Acquisition Corp

Crescent Acquisition Corp (CRSA) completed its previously announced business combination with LiveVox Holdings, Inc., a leading cloud-based provider of customer services and digital engagement tools. Crescent Acquisition Corp is a Read More... The post LiveVox to Become Public Company Following Business Combination With Crescent Acquisition Corp appeared first on TipRanks Financial Blog.

LiveVox to Become Public Company Following Business Combination With Crescent Acquisition Corp

Crescent Acquisition Corp (CRSA) completed its previously announced business combination with LiveVox Holdings, Inc., a leading cloud-based provider of customer services and digital engagement tools.

Crescent Acquisition Corp is a publicly traded special purpose acquisition company (SPAC) formed by Crescent Capital, Robert D. Beyer, and Todd M. Purdy, to accomplish several transactions like mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses or assets.

LiveVox Holdings' shares, units, and warrants will begin trading on The Nasdaq Global Select Market from June 22, with the symbols “LVOX”, “LVOXU”, and “LVOXW”, respectively. The founder and CEO of LiveVox, Louis Summe, will continue to lead the business.

LiveVox secures deals over its competitors due to its superior technology and blended omnichannel approach to digital engagement and customer service. The company’s CCaaS 2.0 platform enables modern contact centers focused on helping customers to enhance their performance by adopting new technologies like AI and speech analytics.

LiveVox will receive $123 million to speed up growth by investing in sales and marketing. The added liquidity will also fund future growth opportunities. Further terms of the transaction have not yet been disclosed.

Todd Purdy, CEO of Crescent Acquisition Corp, commented, “We’re thrilled to partner with the LiveVox management team and Golden Gate Capital as the Company accelerates its growth into a massive market opportunity, with the secular shift of contact centers to the cloud.”

He further added, “After we took Crescent Acquisition Corp public, we searched for a market-leading company with a world class management team, and in LiveVox we found that and so much more.” (See CRSA stock chart on TipRanks)

Northland Securities analyst Michael Latimore recently initiated coverage on Crescent Acquisition with a Buy rating and the price target of $17 (86.4% upside potential).

Latimore said that LiveVox is "easy to adopt and use", and its contact center platform "unifies omnichannel communications, CRM, and WFO functionality into a single cloud-based customer engagement solution".

The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 2 unanimous Buys. The average Crescent Acquisition analyst price target of $15.50 implies 70% upside potential from current levels.

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Crescent Acquisition Corp, with 6.1% of investors increasing their exposure to CRSA stock over the past 30 days.

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The post LiveVox to Become Public Company Following Business Combination With Crescent Acquisition Corp appeared first on TipRanks Financial Blog.

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Sutro Biopharma: A Promising Oncology Play

Investors undaunted by the risk/reward equation and in search for strong returns will often turn to the biotech sector. This is a unique corner of the stock market where success Read More... The post Sutro Biopharma: A Promising Oncology Play appeared first on TipRanks Financial Blog.

Sutro Biopharma: A Promising Oncology Play

Investors undaunted by the risk/reward equation and in search for strong returns will often turn to the biotech sector. This is a unique corner of the stock market where success is easily defined: present successful solutions for diseases and the market will pay its reward. The problem of course is that the space is fraught with risk and dependent on the treatments making the grade – no mean task when put under the regulators’ intense scrutiny.

For H.C. Wainwright's Andrew Fein, Sutro Biopharma () is a name that offers much promise, based on the company’s XpressCF platform which is producing “formidable ADC candidates for oncology.”

“We believe Sutro Biopharma can continue to be a standout performer in the antibody-drug conjugate (ADC) space, primarily driven by their novel cell-free (CF) XpressCF platform, which has generated multiple clinical candidates to date,” the 5-star analyst opined.

Sutro’s pipeline is all based on the platform and includes several collaborations with some well-known pharma names (Merck, Bristol Myers Squibb) which should help the XpressCF platform “sustain longer term growth.” Fein, however, thinks Sutro’s value lies mostly with its two “wholly owned assets.”

These are STRO-002 (folate receptor alpha (FolRa-α) ADC), indicated for the treatment of ovarian cancer (OC), and STRO-001 (CD74 ADC), intended as a therapy for Non-Hodgkin’s lymphoma (NHL) and multiple myeloma (MM).

The former has impressed in a Phase 1 study, with updated results presented during ASCO 2021 showing “signals of efficacy and tolerability” which compared favorably to competitors’ offerings at the same stage of development.

Fein believes the candidate has the potential to be the “best-in-class FolRa-α targeting ADC for patients with platinum-resistant ovarian cancer.” In 2H21, the company will meet with the FDA to discuss the development pathway ahead for the drug.

As for STRO-001, during ASH 2020, Sutro presented preliminary results from the Phase 1 trial which showed 1 CR (complete response) with 2 PRs (partial response) in heavily pretreated patients with DLBCL (diffuse large B-cell lymphoma) - the most common type of NHL - 1 SD (stable disease) in marginal zone lymphoma (MZL) and 2 SDs in follicular lymphoma (FL).

Add into the mix a tolerability profile which reported no ocular toxicity, and Fein says the data is “encouraging.”

“Overall,” the analyst further added, “We view the recent update during ASH 2020 to bode well for future positive readouts and believe that STRO-001 has a high probability of being active across more tumor types.”

To this end, Fein rates STRO shares a Buy along with a $35 price target. This figure suggests ~77% upside from current levels. (To watch Fein’s track record, )

Although STRO has only a few analysts currently throwing the hat in the ring, all are bullish on the stock. STRO’s analyst consensus rating is a Strong Buy, with all 3 analysts giving it the thumbs up. The 12-month average price target stands at $30.67, which implies ~55$ upside for the year ahead. (See STRO stock analysis on TipRanks)

To find good ideas for biotech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

The post Sutro Biopharma: A Promising Oncology Play appeared first on TipRanks Financial Blog.

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