Month: January 2022

Digital, Media & Entertainment Industry – Favorable Fundamental Outlook Moderating Stock Expectations

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Wednesday, January 12, 2021

Digital, Media & Entertainment Industry
Favorable Fundamental Outlook; Moderating Stock Expectations

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to end of report for Analyst Certification & Disclosures

Overview: A promising fundamental outlook. Looking back on 2021, it was a disappointing year. The advertising recovery was strong, but did not exceed 2019 levels. As we look forward toward 2022, most media executives anticipate a recovery to 2019 levels or higher. We believe that the media stocks will climb the wall of worry in 2022. Stock valuations do not appear to be extended and the fundamental environment appears favorable. As such, we remain constructive on selective media stocks for 2022 but do not expect the same stock performance as in 2021.

Digital Media: Will there be a turnaround in stock performance? Many stocks in the Internet & Digital Media were “Covid beneficiaries” with increased time spent at home viewing on-demand video content or playing video games.  As consumers began to resume their normal lives in 2021, the Covid beneficiaries began to face difficult comparisons.

Esports & IGaming: A victim of earlier success? The average increase for stocks in this sector in 2020 was 117%. But the Noble Esports and IGaming index, which was up 25% through mid-March, finished the year down a similar amount (-29%), reflecting a nearly halving of stock prices in the last 3 quarters of the year, another sector that fell victim to pandemic-related investor enthusiasm. We look for a better performance in 2022.

Television: Will it be a Gray year? The TV stocks started the year nicely, but the performance faded in the second half of the year. This market cap weighted index was heavily influenced by the weak performance of the shares of Viacom and Sinclair Broadcasting. Even the strong 145% gain in the shares of Entravision did not help the index. But, the underperformance of Gray Television (up a moderate 12%) stands out and we question if 2022 could be its year.

Radio: Several stocks get an “A” for performance in 2021. There were some extraordinary stock performances. Salem Media, increased an extraordinary 194% and led the list of the strongest performer in 2021. In addition, the shares of Townsquare Media increased 100%. We believe that investors should set expectations for moderating stock performances in 2022.

Overview

A Promising Fundamental 2022 Outlook

Looking back on 2021, it was a disappointing year. The advertising recovery was strong, but did not rebound as nicely as one would expect. The level of government stimulus supported the prospect of a very strong economic and advertising recovery. Supply chain issues, waves of Covid infections as variants emerged and vaccine mandates kept workers and businesses in a tepid environment. The important Auto category did not bounce back as the new car supply was hampered by semiconductor chip shortages. Most advertising mediums did not fully recover revenues to 2019 levels as initially hoped given the rebounding economy. As we look forward toward 2022, most media executives anticipate a strong advertising year, fueled by a continued favorable economy, a return of Auto advertising as supply chain issues abate and the influx of Political advertising. This is the year that advertising recovers to exceed 2019 levels. That is the promise of 2022. If it doesn’t recover to above 2019 levels, especially with the influx of Political advertising, there are bigger problems.

Investors already appear concerned about inflation and the prospect of a rising interest rate environment. The Federal Reserve has hinted that there may be as many as 3 interest rate increases in 2022. In the past, consumer cyclicals do not do well during these periods. As such, investors appear to be setting expectations low for market returns. To some degree, media stocks already anticipate the rising interest rate environment. Over the past year, many mediums have underperformed the general market as measured by the S&P 500 Index, with Television stocks particularly disappointing in the fourth quarter. This is very unusual for Television stocks. Typically, TV stocks do well in the year prior to Olympic and election years. But, after an early strong stock performance in the first part of the year, TV stocks faded in the fourth quarter 2021, discussed later in this report. We would note that many of our closely followed media stocks had some of the strongest performance in 2021, beating the general market and outperforming respective media peer sets. We believe that the media stocks will climb the wall of worry in 2022. Stock valuations do not appear to be extended and the fundamental environment appears favorable. As such, we remain constructive on selective media stocks for 2022. Some of our favorites last year lead our favorites for 2022, including Gray Television and E.W. Scripps. In addition, we anticipate a better year for our esports and igaming companies. A list of our favorites are listed later in this report. 

Digital Media & Technology

Prior Performance (2020) May Not be Reflective of Future Performance (2021)

When it comes to investing, it is often said that “prior performance may not be reflective of future performance”, and that was certainly the case in 2021.  Stocks in the Internet and Digital Media sectors performed well in 2021, but not nearly as well as the broader market (the S&P 500), which finished the year up 27%.  Only the Noble’s Digital Media Index (+47%), outperformed the S&P 500, while stocks in the Social Media (+17%), Mar Tech (+14%), Ad Tech (+10%) and eSports & Gaming (-29%) Indices underperformed.  In many respects, Internet and Digital Media stocks were victims of their own success.  In 2020, when the S&P 500 finished up 16%, Noble’s Ad Tech (+178%), Mar Tech (+65%), Social Media (+41%) and Digital Media (+38%) Indices all significantly outperformed the S&P 500 (NOTE:  Noble added the eSports & Gaming sector in 1Q 2021). 

Many stocks in the Internet & Digital Media were “Covid beneficiaries” and benefited from increased time spent at home viewing on-demand video content or playing video games.  As consumers began to resume their normal lives in 2021, the Covid beneficiaries began to face difficult comparisons.  Zoom Communications (ZM) is the poster boy for this effect: shares of Zoom increased nearly 400% in 2020, but fell by 46% in 2021.

Noble’s Internet & Digital Media indices are market cap weighted, so their performance is often driven by the FAANG stocks (Facebook, Apple, Amazon, Netflix and Google).  Interestingly, only Google (GOOG: +65%) and Apple (APPL: +34%) outperformed the S&P 500 in 2021, with Facebook (FB: +23%), Netflix (NFLX:  +11%) and Amazon (AMZN: +2%) failing to keep pace. 

Noble’s market cap weighted Digital Media Index performed well primarily on the strength of Google’s shares, despite only 3 of the 11 stocks in the index increasing for the year.  A few of high-fliers in 2020 failed to repeat in 2021.  For example, FuboTV (FUBO) saw its shares increase by 214% in 2020, but came back to earth in 2021 (-45%).  Spotify saw a similar trend, with shares increasing by 110% in 2020, only to fall by 26% in 2021. 

Noble’s eSports & Gaming Index shared similar traits as the Digital Media sector, only the sector experienced both a boom and bust in the same year.  The index was up 25% through mid-March, only to finish the year down a similar amount (-29%), reflecting a nearly halving of stock prices in the last 3 quarters of the year.  While Noble only created this index in 2021, we note that the average increase for stocks in this sector in 2020 was 117%.  Again, another sector that fell victim to pandemic-related investor enthusiasm.

As Figure #1 Sports Betting/iGaming Company Comparables illustrate, the stock valuations of some of our favorite plays appear compelling and trading below industry averages. Our favorite plays for 2022 include Engine Media, Esports Entertainment, and Motorsport Games.  

Figure #1 


In general, Noble’s Internet & Digital Media Indices finished the year rather poorly as illustrated in Figure #2 12-Month Digital Stock Performance.  In 4Q21, the S&P 500 finished up 11%.  Only Noble’s Ad Tech Index outperformed the broader market, increasing by 18%.  Indices that underperformed the broader market include Digital Media (+6%), Mar Tech (-3%), Social Media (-6%), and eSports & Gaming (-24%).  We would note that every stock in the Social Media and eSports & Gaming sectors fell during the fourth quarter of 2021. 

We attribute much of the weakness in these indices to the Fed’s pivot to a more hawkish stance on inflation, first during the September meeting, and again in mid-December, when it opined that it no longer considered inflation transitory and would double the pace of tapering (reducing bond purchases) and signaling three rate hikes in 2022.  Investors appear to have responded by moving into large cap defensive names at the expense of smaller cap growth companies.  Companies that are not yet profitable were hit hardest. 

Within the Ad Tech industry, one of our favorites had an extraordinary year, Harte Hanks, up an impressive 176%. We believe that the company is still early in its turnaround and that there is significant upside in the shares. As such, we remain constructive on the HHS shares in 2022. 

Figure #2 12-Month Digital Stock Performance


Broadcasting 

Broadcasting stocks had a difficult Fourth Quarter as Figure #3  Quarter Broadcast Performance illustrates. Both the Noble Radio and Noble Television Indices declined from the start of the quarter, as both indices suffered from the Fed comments in September to a more hawkish stance on inflation. Interestingly, the Radio stocks held up better than the TV stocks.

Figure #3 Quarter Broadcast Stock Performance


Broadcast TV

Will it be a Gray year?

As Figure #4 12-Month Broadcast Stock Performance illustrates, the TV stocks started the year nicely, but the performance faded in the second half of the year. This market cap weighted index was heavily influenced by the weak performance of the shares of Viacom and Sinclair Broadcasting, both were down near 20% for the year. Notably, the average TV stock was up 31% for the year, which is more in line with the historic performance for the group in the year prior to an Olympic and election year. For the past 20 years, the TV stocks gain an average 22% in the odd number year. Furthermore, there were some notable stock performance stand outs. Entravision (EVC) led the stock performance for the year up a remarkable 145%. The extraordinary performance was driven by the company’s digital transformation through attractive acquisitions. 

As we look forward toward 2022, we believe that the fundamental environment for the TV broadcasters appears favorable. In our view, the key auto advertising category should gain traction as supply issues abate. In addition, a rising interest rate environment may actually serve to increase auto advertising as dealerships step up efforts to get consumers in the door and to build brand awareness. Furthermore, the industry should benefit from the influx of Political advertising. While all indications are that Political advertising will exceed 2020 levels, we are still somewhat cautious about that prospect, but expect an outsized Political advertising year, nonetheless. One of our current favorites in the industry did not perform as well in 2021, namely Gray Television (GTN), which increased a moderate 12% in 2021. We believe that the shares may have underperformed due to the fog of acquisitions. In our view, the company has an incredible platform to participate in the influx of Political advertising. In addition, the company has an enviable history of integrating acquisitions and outperforming the fundamentals of the industry. As Figure #5 Broadcast TV Company Comparables illustrate, the shares of GTN trade below its peer averages. As such, the GTN shares lead the list of favorites for 2022. The remaining favorites include E.W. Scripps (SSP) and Entravision (EVC).

Figure #4  12-Month Broadcast Stock Performance



Figure #5



Radio 

An “A” for performance

The Radio stocks had an extraordinary year as investors regained confidence that the industry will still be around. The Noble Radio Index increased 57% for the full year 2021, nicely outperforming the general market, as measured by the S&P 500 Index, which was up 28%. During the depths of the pandemic in 2020, some broadcasters tripped debt covenants creating concern that some high profile companies will need to be reorganized. As such, the Radio stocks rebounded as the economy and advertising environment improved and as companies sought debt covenant waivers or refinanced. The Noble Radio index is market weighted. As such, there were some extraordinary stock performances that exceeded the Noble Index in 2021. Salem Media, one of our closely followed stocks, increased an extraordinary 194% and led the list of the strongest performer in 2021. In addition, the shares of Townsquare Media increased 100%. 

We do not look for such extraordinary stock performances to recur in 2022. The fourth quarter stock performance highlights some of the issues that investors will need to grapple with. The Noble Radio index decreased 22% in the fourth quarter reflecting concern over a rising interest rate environment and the prospect of a slowing economy. Many in the industry still have significant debt leverage. As such, concern over the economy and the advertising environment likely will have an outsized impact on the industry. We believe that 2022 will be a year of moderating revenue trends, and, likely moderating stock price performances. Nonetheless, we believe that there will be a generally favorable environment for Radio stocks and room for attractive upside appreciation potential. Most radio broadcasters are likely to continue to expand into areas of faster revenue and cash flow growth, namely Digital, with some moving well beyond advertising supported media. As Figure #6 Broadcast Radio Company Comparables illustrate, many of the stocks trade at compelling stock valuations, with some of our favorites trading below industry averages. Our current favorites include Townsquare Media, Cumulus Media and Salem Media. 


Figure #6

The following companies are mentioned in this report and the link to the respective reports, which contain important disclosures, are available:

Cumulus Media (CMLS)

Engine Media (GAME)

Entravision (EVC)

Esports Entertainment (GMBL)

E.W. Scripps (SSP)

Gray Television (GTN)

Harte Hanks (HHS)

Motorsport Games (MSGM)

Salem Media (SALM)

Townsquare Media (TSQ)


GENERAL DISCLAIMERS

All statements or opinions contained herein that include the words “we”, “us”, or “our” are solely the responsibility of Noble Capital Markets, Inc.(“Noble”) and do not necessarily reflect statements or opinions expressed by any person or party affiliated with the company mentioned in this report. Any opinions expressed herein are subject to change without notice. All information provided herein is based on public and non-public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed. No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio. The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on its own appraisal of the implications and risks of such decision.

This publication is intended for information purposes only and shall not constitute an offer to buy/sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile. This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice. Past performance is not indicative of future results.

Noble accepts no liability for loss arising from the use of the material in this report, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to Noble. This report is not to be relied upon as a substitute for the exercising of independent judgement. Noble may have published, and may in the future publish, other research reports that are inconsistent with, and reach different conclusions from, the information provided in this report. Noble is under no obligation to bring to the attention of any recipient of this report, any past or future reports. Investors should only consider this report as single factor in making an investment decision.

IMPORTANT DISCLOSURES

This publication is confidential for the information of the addressee only and may not be reproduced in whole or in part, copies circulated, or discussed to another party, without the written consent of Noble Capital Markets, Inc. (“Noble”). Noble seeks to update its research as appropriate, but may be unable to do so based upon various regulatory constraints. Research reports are not published at regular intervals; publication times and dates are based upon the analyst’s judgement. Noble professionals including traders, salespeople and investment bankers may provide written or oral market commentary, or discuss trading strategies to Noble clients and the Noble proprietary trading desk that reflect opinions that are contrary to the opinions expressed in this research report.

The majority of companies that Noble follows are emerging growth companies. Securities in these companies involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in Noble research reports may not be suitable for some investors and as such, investors must take extra care and make their own determination of the appropriateness of an investment based upon risk tolerance, investment objectives and financial status.

Company Specific Disclosures

The following disclosures relate to relationships between Noble and the company (the “Company”) covered by the Noble Research Division and referred to in this research report.

Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months

ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Director of Research. Senior Equity Analyst specializing in Media & Entertainment. 34 years of experience as an analyst. Member of the National Cable Television Society Foundation and the National Association of Broadcasters. BS in Management Science, Computer Science Certificate and MBA specializing in Finance from St. Louis University.

Named WSJ ‘Best on the Street’ Analyst six times.

FINRA licenses 7, 24, 66, 86, 87

WARNING

This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs. Prior to making any investment decision, recipients should assess, or seek advice from their advisors, on whether any relevant part of this report is appropriate to their individual circumstances. If a recipient was referred to Noble Capital Markets, Inc. by an investment advisor, that advisor may receive a benefit in respect of transactions effected on the recipients behalf, details of which will be available on request in regard to a transaction that involves a personalized securities recommendation. Additional risks associated with the security mentioned in this report that might impede achievement of the target can be found in its initial report issued by Noble Capital Markets, Inc.. This report may not be reproduced, distributed or published for any purpose unless authorized by Noble Capital Markets, Inc.

RESEARCH ANALYST CERTIFICATION

Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public
appearance and/or research report.

Ownership and Material Conflicts of Interest
Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.

NOBLE RATINGS DEFINITIONS % OF SECURITIES COVERED % IB CLIENTS
Outperform: potential return is >15% above the current price 94% 32%
Market Perform: potential return is -15% to 15% of the current price 7% 4%
Underperform: potential return is >15% below the current price 0% 0%

NOTE: On August 20, 2018, Noble Capital Markets, Inc. changed the terminology of its ratings (as shown above) from “Buy” to “Outperform”, from “Hold” to “Market Perform” and from “Sell” to “Underperform.” The percentage relationships, as compared to current price (definitions), have remained the same.

Additional information is available upon request. Any recipient of this report that wishes further information regarding the subject company or the disclosure information mentioned herein, should contact Noble Capital Markets, Inc. by mail or phone.

Noble Capital Markets, Inc.
150 East Palmetto Park Rd., Suite 110
Boca Raton, FL 33432
561-994-1191

Noble Capital Markets, Inc. is a FINRA (Financial Industry Regulatory Authority) registered broker/dealer.
Noble Capital Markets, Inc. is an MSRB (Municipal Securities Rulemaking Board) registered broker/dealer.
Member – SIPC (Securities Investor Protection Corporation)

Report ID: 24375

Chakana Copper Corp (CHKKF)(PERU:CA) – Initial Resource Estimate Provides Solid Foundation on Which to Grow Increasing Price Target

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Wednesday, January 12, 2022

Chakana Copper Corp (CHKKF)(PERU:CA)
Initial Resource Estimate Provides Solid Foundation on Which to Grow; Increasing Price Target

Noble Capital Markets research on Chakana Copper Corp is published under ticker symbols CHKKF and PERU:CA. The price target is in USD and based on ticker symbol CHKKF. Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,353 metres of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Initial resource estimate. Chakana Copper released an initial inferred resource estimate for its Soledad project in Peru. The resource estimate encompasses seven breccia pipes that start at surface and extend to an average depth of approximately 300 meters. Inferred mineral resources included 1.9 million tonnes grading 1.29 grams of gold per tonne, 37.1 grams of silver per tonne, and 0.65% copper that could be extracted via open pit, and an additional 4.8 million tonnes grading 0.72 grams of gold per tonne, 61 grams of silver per tonne, and 0.97% copper that could be mined underground.

    Starter pit opportunities.  The resources at Soledad are polymetallic and strong silver and gold grades are common near surface with copper grades increasing at depth. We think the current drilling program down to 300 meters has affirmed an economic opportunity for open pits for near surface resources that could also fund resource development at depth …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

FAT Brands Inc. (FAT) – Notes From ICR Conference

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Wednesday, January 12, 2022

FAT Brands Inc. (FAT)
Notes From ICR Conference

FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo’s Cafe and Express, and Ponderosa and Bonanza. The company’s overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    ICR Conference. On Monday afternoon, FAT Brands CEO Andrew Wiederhorn gave a presentation at the ICR conference. Today, FAT Brands consists of 17 different concepts, with over 2,300 locations across 40 countries with $2.2 billion of systemwide sales. FAT Brands has over 750 franchise partners including 300 multi-unit franchisees.

    Synergies.  CEO Wiederhorn spent considerable time outlining the potential synergies available to FAT Brands, including $10 million from the GFG acquisition, which should be done by the end of 2022. In addition, there is the ability to wring up to another $15 million of EBITDA from the factory by increasing capacity utilization from 30% to 60%, and the potential of up to $30 million of savings from …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Sierra Metals Reports Fatality Following Injuries Sustained at Its Bolivar Mine in Mexico

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Sierra Metals Reports Fatality Following Injuries Sustained at Its Bolivar Mine in Mexico

Research, News, and Market Data on Sierra Metals

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) regrets to report a fatality as a result of an accident that occurred at the Company’s Bolivar Mine, located in Chihuahua State, Mexico. The injured party was evacuated to medical facilities in Cuauhtemoc where the injured party was later pronounced deceased following medical complications. The incident occurred on January 10, 2022 at the underground mining operation of the Bolivar Mine. There were no other injuries related to the accident.

Luis Marchese, CEO, said, “Sierra Metals deeply regrets this accident and extends its sincerest sympathy to the family, friends and co-workers of our colleague.” He added, “The health and safety of our workforce remains our highest priority and we are focused on ensuring that those who have been affected by the incident are receiving full support.”

The appropriate government and local authorities have been notified. A thorough investigation into the accident has been initiated, in order to determine the cause and appropriate corrective actions.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

For further information regarding Sierra Metals, please visit www.sierrametals.com.

Continue to Follow, Like and Watch our progress:
Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc

Investor Relations
Sierra Metals Inc.
+1 (416) 366-7777
info@sierrametals.com

Luis Marchese
CEO
Sierra Metals Inc.
+1 (416) 366-7777

Source: Sierra Metals Inc.

Release – COVAXIN Booster Shown to Neutralize Both Omicron and Delta Variants of SARS-CoV-2

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COVAXIN™ (BBV152) Booster Shown to Neutralize Both Omicron and Delta Variants of SARS-CoV-2

 

Research, News, and Market Data on Ocugen

 

  • Booster dose of candidate vaccine, COVAXIN™ (BBV152), generated robust neutralizing antibody responses against both Omicron (B.1.529) and Delta (B.1.617.2) using a live virus neutralization assay
  • 100% of test serum samples showed neutralization of the Delta variant and more than 90% of serum samples showed neutralization of the Omicron variant
  • These data add to the body of evidence that the broad-spectrum mechanism of action of a whole virus inactivated COVID-19 vaccine, like COVAXIN™ (BBV152), is a viable option in this continuously evolving pandemic

MALVERN, Pa., Jan. 12, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing novel therapeutics and vaccines, and its partner, Bharat Biotech, a global leader in vaccine innovation and developer of vaccines for infectious diseases, today announced results from a study conducted at Emory University demonstrating that sera from subjects who received a booster dose of candidate vaccine COVAXIN™ (BBV152) six months after getting a primary two-dose series of COVAXIN™ (BBV152) neutralized the SARS-CoV-2 Omicron and Delta variants. Earlier studies demonstrated the neutralizing potential of COVAXIN™ (BBV152) against SARS-CoV-2 Variants of Concern Alpha, Beta, Delta, Zeta and Kappa.

The study will be published on the pre-print server, medRXiv, in the coming days.

Sera samples from individuals who received a booster of COVAXIN™ (BBV152) were observed to be effective in neutralizing Omicron and Delta variants on a live virus neutralization assay. The neutralization activity of COVAXIN™-boosted sera was comparable to what has been observed in mRNA vaccine-boosted sera against the Omicron variant. More than 90% of all individuals boosted with COVAXIN™ (BBV152) showed neutralizing antibodies. All participants received an initial two-dose schedule of COVAXIN™ (BBV152) at Day 0 and Day 28.

“The global impact of Omicron shows us that the fight against COVID-19 continues, and we’re encouraged that these data demonstrate the value of COVAXIN™ as a primary and booster vaccine,” said Dr. Shankar Musunuri, Chairman, CEO and Co-Founder, Ocugen, Inc. “These results show how a broad-spectrum vaccine has the potential ability to address ever-shifting public health challenges such as new variants and mutations.”

“As the dominant COVID-19 variant throughout the world, Omicron poses a serious public health concern,” said Mehul Suthar, Ph.D., Assistant Professor, Emory Vaccine Center and who led the laboratory analysis. “Data from this preliminary analysis show individuals receiving a booster dose of COVAXIN™ have a significant immune response to both the Omicron and Delta variants. These findings suggest that a booster dose has the potential to reduce disease severity and hospitalizations.”

Dr. Krishna Ella, Chairman and Managing Director of Bharat Biotech said, “We are in a continuous state of innovation and product development for COVAXIN™. The positive neutralization responses against the Omicron and Delta variants, validates our hypothesis of a multi epitope vaccine generating both humoral and cell mediated immune responses. Our goals of developing a global vaccine against COVID-19 have been achieved with the use of COVAXIN™ as a universal vaccine for adults and children.”

COVAXIN™ is formulated uniquely such that the same dosage can be administered to adults and children alike. COVAXIN™ is a ready-to-use, liquid vaccine, stored at 2 – 8°C, with 12 months shelf life and multi-dose vial policy. The same doses of vaccine can also be used for two-dose primary immunization in adults and children and for booster dose vaccinations, making it truly a universal vaccine. COVAXIN™ is not currently authorized or approved for use as a primary or booster dose in the United States.

About the study
In order to evaluate the effectiveness of COVAXIN™ (BBV152) against the Omicron variant, Ocugen contracted with the Emory Vaccine Center (Atlanta, GA) to test human immune sera obtained from participants (n=13) in an ongoing Phase 2 clinical trial (ClinicalTrials.gov: NCT04471519). Sera was collected 28-days post booster – six months following the primary two-dose series. Each sera was tested in a neutralization assay. Following three doses, the FRNT50 geometric mean titers (GMTs) of neutralizing antibodies against the Omicron variant measured in the samples was 75, compared to 480 against the Delta variant and 706 against the vaccine strain, D614G.

This study was sponsored by Ocugen, Inc. and Ocugen’s partner, Bharat Biotech, provided the sera of the subjects from the Phase 2 study.

About COVAXIN™ (BBV152)
COVAXIN™ (BBV152) is an investigational vaccine candidate product in the U.S, currently under review by the U.S. Food and Drug Administration for emergency use authorization (EUA) for children 2-18 years of age. Additionally, an Investigational New Drug application (IND) is being discussed with the agency to support an immunobridging study among U.S. participants. It was developed by Bharat Biotech in collaboration with the Indian Council of Medical Research (ICMR) – National Institute of Virology (NIV). COVAXIN™ (BBV152) is a highly purified and inactivated vaccine that is manufactured using a vero cell manufacturing platform.

With more than 180 million doses having been administered to adults and children outside the U.S., COVAXIN™ (BBV152) is currently authorized under emergency use in more than 20 countries, and emergency use authorization is in process in more than 60 other countries. The World Health Organization (WHO) recently added COVAXIN™ (BBV152) to its list of vaccines authorized for emergency use. And, as many as 110 countries have agreed to mutual recognition of COVID-19 vaccination certificates with India that includes vaccination using COVAXIN™ (BBV152). The trade name, COVAXIN™, has not been evaluated by the FDA.

About Ocugen, Inc.
Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one to many” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. and Canadian markets. For more information, please visit www.ocugen.com.

About Bharat Biotech 
Bharat Biotech has established an excellent track record of innovation with more than 145 global patents, a wide product portfolio of more than 16 vaccines, 4 bio-therapeutics, registrations in more than 123 countries, and the World Health Organization (WHO) Pre-qualifications. Located in Genome Valley in Hyderabad, India, a hub for the global biotech industry, Bharat Biotech has built a world-class vaccine & bio-therapeutics, research & product development, Bio-Safety Level 3 manufacturing, and vaccine supply and distribution.

Having delivered more than 4 billion doses of vaccines worldwide, Bharat Biotech continues to lead innovation and has developed vaccines for influenza H1N1, Rotavirus, Japanese Encephalitis, Rabies, Chikungunya, Zika, and the world’s first tetanus-toxoid conjugated vaccine for Typhoid. Bharat’s commitment to global social innovation programs and public-private partnerships resulted in introducing path-breaking WHO pre-qualified vaccines BIOPOLIO®, ROTAVAC®, and Typbar TCV® combatting polio, rotavirus, typhoid infections, respectively. The acquisition of the rabies vaccine facility, Chiron Behring, from GlaxoSmithKline (GSK) has positioned Bharat Biotech as the world’s largest rabies vaccine manufacturer. To learn more about Bharat Biotech, visit www.bharatbiotech.com.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such forward-looking statements include information about qualitative assessments of available data, potential benefits, expectations for clinical trials, and anticipated timing of clinical trial readouts and regulatory submissions, including statements about data from the Phase 2 study conducted by Emory University that we sponsored, and the potential for this data to support our application to the U.S. Food and Drug Administration (FDA) for emergency use authorization (EUA) of COVAXIN™ in pediatric patients or our planned biologics license application (BLA), assuming the clinical hold is lifted, for approval of COVAXIN™ for use in adult patients, as well as statements regarding the potential short and long-term benefits of receiving a booster dose of COVAXIN™. This information involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates; the risk that we may not resolve the current clinical hold on COVAXIN™ in the near term or at all, or that the FDA could make other decisions that adversely impact our ability to advance the development of COVAXIN™ in the United States, and the implications that this clinical hold may have for our request for EUA of COVAXIN for pediatric use, including the timing and scope of any such authorization; risks associated with preliminary and interim data, including the possibility of unfavorable new clinical trial data and further analyses of existing clinical trial data; the risk that the results of in-vitro studies will not be duplicated in human clinical trials; the risk that clinical trial data are subject to differing interpretations and assessments, including during the peer review/publication process, in the scientific community generally, and by regulatory authorities; whether and when data from Bharat Biotech’s clinical trials will be published in scientific journal publications and, if so, when and with what modifications; whether the data and results from the preclinical and clinical studies of COVAXIN™, which have been conducted by Bharat Biotech in India, will be accepted by the FDA or otherwise sufficient to support our EUA submission or planned BLA submission, assuming the clinical hold is lifted; the size, scope, timing and outcome of any additional trials or studies that we may be required to conduct to support an EUA or BLA; any additional chemistry, manufacturing, and controls information that we may be required to submit to the FDA; whether and when a BLA for COVAXIN™ will be submitted to or approved by the FDA; whether developments with respect to the COVID-19 pandemic will affect the regulatory pathway available for vaccines in the United States, Canada or other jurisdictions; market demand for COVAXIN™ in the United States or Canada; decisions by the FDA or Health Canada impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of COVAXIN™ in the United States or Canada, including development of products or therapies by other companies. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release.

Ocugen Contact: 
Ken Inchausti
Head, Investor Relations & Communications
+1 484 237 3398
ken.inchausti@ocugen.com

Please submit investor-related inquiries to: IR@ocugen.com

Release – ACCO Brands Corporation Announces Fourth Quarter and Full Year 2021 Earnings Webcast

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ACCO Brands Corporation Announces Third Quarter 2021 Earnings Webcast

Research, News, and Market Data on ACCO Brands

 

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that it will release its fourth quarter and full year 2021 earnings after the market close on February 15, 2022. The Company will host a conference call and webcast to discuss the results on February 16 at 8:30 a.m. EST. The webcast can be accessed through the Investor Relations section of www.accobrands.com and will be available for replay.

About ACCO Brands Corporation

ACCO Brands Corporation (NYSE: ACCO) is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include Artline®, AT-A-GLANCE®, Barrilito®, Derwent®, Esselte®, Five Star®, Foroni®, GBC®, Hilroy®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, Wilson Jones® and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

Christine Hanneman
Investor Relations
(847) 796-4320

Julie McEwan
Media Relations
(937) 974-8162

Source: ACCO Brands Corporation

Release – Voyager Digital Announces Key Hire as it Expands Crypto Payment Solutions in the US

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Voyager Digital Announces Key Hire as it Expands Crypto Payment Solutions in the US

 

Research, News, and Market Data on Voyager Digital

 

Tim Mund joins as Head of US Payment Sales

Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG; OTCQB: VYGVF; FRA: UCD2) one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, is pleased to announce Tim Mund has joined the Company as Head Of US Payment Sales.
 
In the newly-created role of Head of US Payment Sales, Tim will be responsible for the sales and go-to-market strategy for Voyager’s payment solutions and for building the customer pipeline with payment service providers (PSPs) and key merchants to integrate Voyager’s technology with their payment networks and systems.
 
“Voyager’s recent acquisition of Coinify enables consumers to transact using cryptocurrencies with fiat settlement,“ said Steve Ehrlich, CEO and co-founder of Voyager. “With the addition of a top sales executive like Tim, we are positioned to expand our payments product line in the US and help PSPs accept crypto, reduce transaction costs, and increase efficiency across the entire payment chain, adding significant value for merchant and end user buyers.”
 
“I’ve been following Voyager’s growth since the beginning and am excited to lead the integration of Voyager’s technology into the payment service provider networks.  I believe that owners of cryptocurrency around the world will be able to make everyday purchases from groceries and shoes, to cars and airline tickets,” stated Tim Mund. “Merchants will be able to tap into crypto assets to grow revenue.  I’m excited to be part of the Voyager leadership team to help bring in the next generation of financial services and crypto for all.”
 
Tim Mund spent the last 20 years in enterprise sales and leadership roles at fintech and communications firms such as Recognia, Kinetix, 29West, CenturyLink and RingCentral.

About Voyager Digital Ltd.

Publicly traded Voyager Digital Ltd.’s (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing, cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 70 different crypto assets using its easy-to-use mobile application and earn rewards up to 12 percent annually on more than 35 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visithttps://www.investvoyager.com.

The TSX has not approved or disapproved of the information contained herein.

SOURCE Voyager Digital, Ltd.

Press Contacts

Voyager Digital, Ltd.

Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com

Voyager Public Relations Team
pr@investvoyager.com

Powells Apparent Shift on Digital Currency

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	Image Credit: Johannes Plenio

New Light Shed on the Federal Reserve’s Road Toward Accepting Cryptocurrency

 

Much of Fed Chairman Jay Powell’s confirmation hearing, essentially a job interview to keep his job, was sleepy. He straddled a lot of fences and tried to make everyone happy while not saying anything that could be overblown and impact the economy or roil markets. Digital currencies came up in a question, and his response shed much more needed light on the Fed’s
unofficial stance. Powell also offered clearer insight on his thoughts on privately issued cryptocurrency.

Position on Digital Currency

Powell was responding to a question asked by Sen. Pat Toomey during the hearing. Toomey asked, “If Congress were to authorize and the Fed were to pursue a central bank digital dollar, is there anything about that that ought to preclude a well-regulated, privately issued stable coin from co-existing with a central bank digital dollar?” Powell’s response was without hesitation. “No, not at all,” Powell said confidently.

Addressing an inquiry as to the state of the Fed’s long-promised, much-awaited report, from Senator Mike Crapo remotely from the Dirks, Powell said the Fed’s report on digital currencies is not “quite where we needed to get it” but would be released soon. The Fed chair explained the delayed report was the consequence of “changes in monetary policy.”  The
report is expected to discuss official policy surrounding the possible rollout of a central bank digital currency in the U.S. “It’s more going to be an exercise in asking questions and seeking input from the public rather than taking a lot of positions on various issues, although we do take some positions,” said Powell. “The report really is ready to go and I would expect we will drop it — I hate to say it again — in coming weeks.”

Other Digital Currency News

Powell’s testimony came the same day (January 11) Representative Tom Emmer’s Twitter post attracted thousands of retweets and  “Likes.” In it, he indicated he would be presenting new legislation on digital currency. It’s unclear what the legislature may be. It could be an attempt at “fixing” the definition of a broker in the infrastructure law, which took effect in November 2021, or another regulatory path to encourage innovation in the crypto industry.

 

 

Take-Away

The lack of clarity from Washington, including the Fed, Congress, and the SEC, on how to regulate the ongoing upsurge in the private digital currency space has caused those in the US Capitol, Wall Street, and the crypto universe to clash. Answers as to the official direction may be ahead as Powell confirmed that the central bank is planning to publish its much-awaited report on digital currencies in the coming weeks. This came after he pointedly agreed that a digital currency could co-exist within our monetary system with traditional cash dollars.

 

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:



Is Gold Still Preferred Over Large Digital Currencies as a Safe-Haven Asset?

Non-Fungible-Tokens Have Become a New Revenue Source for Once Stodgy Institutions





About the Central Bank Digital Currency Position Report, That’s Late

How Close is the US to Having a Digital Currency?

 

 

Sources:

https://markets.businessinsider.com/news/currencies/cryptos-fed-cbdc-digital-coin-central-bank-coexist-powell-toomey-2022-1

https://cointelegraph.com/news/us-lawmaker-hints-at-upcoming-crypto-legislation-as-jerome-powell-says-fed-will-release-report-on-digital-currency-soon

https://twitter.com/RepTomEmmer

 

 

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Release – Capstone Green Energy Signs 20-Year Parts Labor Service Contract on an 800KW Energy System Installed at a Premier Hotel in Jamaica

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Capstone Green Energy (NASDAQ: CGRN) Signs 20-Year Parts & Labor Service Contract on an 800KW Energy System Installed at a Premier Hotel in Jamaica

Research, News, and Market Data on Capstone Green Energy

 

Capstone Green Energy Continues to Expand its Energy as a Service Business

VAN NUYS, CA / ACCESSWIRE / January 11, 2022 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), (“Capstone”, the “Company”, “we” or “us”), a global leader in carbon reduction and on-site resilient green energy as a service (EaaS) solutions, announced today that Innovative Energy Company Limited (IEC), the exclusive Capstone distributor for Jamaica (www.ieclja.com), signed a 20-year Parts & Labor Factory Protection Plan (FPP) service contract for a C800S, 800 kilowatt (kW), Signature Series Capstone energy system installed at a premier hotel in Jamaica.

Capstone Green Energy continues to expand its Energy as a Service (EaaS) business, including its industry-leading FPP long-term comprehensive service product and its long-term rental program, both of which are important elements to Capstone achieving its near-term profitability goals as service contracts and rentals agreements generate higher contribution margin rates than traditional product sales.

The 225-room hotel commissioned the Capstone 800 kW energy system in June 2020 as they sought to reduce their energy costs by employing a Capstone Energy System tri-generation solution. The CCHP application has a project design efficiency of 83%. The Capstone C800S provides more than 95% of the hotel’s annual electrical energy, 100% of the hotel’s domestic hot water, and 80% of the hotel’s peak cooling demand by utilizing the exhaust gas. With Casptone’s energy system the hotel is reducing its annual energy costs while also reducing its greenhouse gas emissions. The C800S is also configured as Dual-Mode with integrated battery packs, which will allow the hotel to continue to operate in the event of a local grid outage.

Capstone’s industry-leading FPP long-term comprehensive service product is designed to provide complete service coverage, parts and labor for both scheduled and unscheduled maintenance for the next 20-years and protect the end-use customer from future cost increases associated with labor, replacement spare parts pricing, commodities, import tariffs, and interest rates.

“Now is the time to prepare for more intense weather events ahead as climate change is affecting everyone on a global scale. Meeting the customer’s operational needs for a stable power supply in a region impacted by severe weather while providing significant financial savings through a long-term full-coverage service contract is key to what Capstone Green Energy brings to the energy market,” said Tracy Chidbachian, Director of Customer Service.

“The 2021 Atlantic hurricane season was the third most active hurricane season on record with storms getting stronger and lasting longer, resulting in short and long-term physical and economical damages. In most cases, the unpredictable and severe weather results in extended grid outages,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy. “A Capstone on-site energy system reduces the operational risks of grid outages and is designed to provide resiliency and reliability by providing continuous operation, making the Capstone high efficiency and low emission energy system the ideal solution in the Caribbean,” concluded Mr. Jamison.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three fiscal years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Release – Comstocks LiNiCo Corporation Receives Tax Abatement Expands Permit

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Comstock’s LiNiCo Corporation Receives Tax Abatement, Expands Permit From the Nevada Governor’s Office of Economic Development

Research, News, and Market Data on Comstock Mining

 

VIRGINIA CITY, NEVADA, January 11, 2022 – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) announced today that its 90% owned subsidiary, LINICO Corporation (“LiNiCo”), an emerging leader in the production of electrification products, including lithium carbonate and graphite, from recycled lithium-ion batteries (“LIB”) with its proprietary extraction technologies, received tax abatements from the Nevada Governor’s Office of Economic Development.

The $618,836 in tax abatements apply to LiNiCo’s first state-of-the-art production facility that is currently being retrofitted and scheduled to commence initial production with a feedstock crushing capacity of over 35,000 tons per year during the second half 2022, with the ultimate facility capacity designed and permitted for over 100,000 tons per year. LiNiCo recently amended its permit application to include its breakthrough lithium extraction and lithium carbonate production processes in Nevada.

In connection with the abatement program, LiNiCo will create at least 30 diverse, well-paying jobs and make $6 million in capital investment within the first two years of operation, resulting in over $4 million in net new Nevada tax revenues.

“We are pleased that the Nevada Governor’s Office of Economic Development recognizes and values LiNiCo as a new clean technology business by approving our request for tax abatement,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We believe that LiNiCo’s pioneering extraction technologies will quickly prove to be the best, most sustainable, and most valuable processes for the production of lithium and other renewable electrification products.”

Comstock owns 90% of LiNiCo and 10% of LiNiCo is owned by Aqua Metals Inc. (NASDAQ: AQMS), a cleantech innovator focused on environmentally closed-loop battery recycling.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

 

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

 

Contact information:
Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
ComstockMining.com		 Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com		 Zach Spencer
Director of External Relations
Tel (775) 847-5272 Ext.151
questions@comstockmining.com

Release – electroCore Announces Publication of PREMIUM II Trial of gammaCore for the Prevention of Migraine

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electroCore Announces Publication of PREMIUM II Trial of gammaCore (Non-Invasive Vagus Nerve Stimulation; nVNS) for the Prevention of Migraine

News and Market Data on electroCore

 

ROCKAWAY, N.J., 
Jan. 10, 2022 (GLOBE NEWSWIRE) — 
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced the publication of a peer-reviewed paper, entitled “Non-invasive vagus nerve stimulation for prevention of migraine: The multicenter, randomized, double-blind, sham-controlled 
PREMIUM II trial” in Cephalalgia, the official journal of the International Headache Society (IHS). The paper reports the results of a randomized, double-blind, sham-controlled trial conducted at twenty-seven sites across 
the United States. Originally designed and powered to randomize 400 patients, the study was closed early due to COVID-19 after enrolling 231 subjects.

The results of the study showed a decrease in the number of monthly headache days of 4.6 vs. -3.0 for sham (p=0.05) with 44.87% of subjects in the gammaCore group having greater than a 50% reduction in the number of migraine days per month compared with 26.81% for the sham group (p=0.05). Quality of life, as measured by the HIT-6 (Headache Impact scale), improved by -4.9 points vs. -2.3 for sham (p<0.05). In the subpopulation of patients diagnosed with migraine with aura, the number of headache days decreased by 5.5 days in the nVNS group compared with 2.7 in the sham group (p=0<0.05), a therapeutic gain of >100% compared to sham. These findings are consistent with previous reports on the mechanisms of action that suggest nVNS may be particularly effective in patients with migraine with aura.

Dr. Umer Najib, Associate Professor, Program Director of the Headache Medicine Fellowship Program at the 
West Virginia University and first author of the paper commented, “We are pleased to have added to the data that helps suggest the types of migraine patients who could likely benefit most from nVNS. The safety and tolerability of nVNS is such that it can be used as a stand-alone or adjunctive treatment, depending on the needs of the patient, and its flexibility allows health care providers to consider it for many of their patients.”

“We congratulate and thank all of the investigators, site staff, and subjects who conducted this study throughout 
the United States despite the challenges that arrived with COVID-19,” commented Eric Liebler, Senior Vice President of Neurology at electroCore. “With seven different indications from the FDA, gammaCore is safe and effective for many patients with primary headache, and the findings of this study highlighting the potential benefits in patients who have migraine with aura are particularly compelling.”

The full publication is available at: https://journals.sagepub.com/doi/10.1177/03331024211068813

About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine company dedicated to improving patient outcomes through its non-invasive vagus nerve stimulation therapy platform, initially focused on the treatment of multiple conditions in neurology. The company’s current indications are the preventive treatment of cluster headache and migraine, the acute treatment of migraine and episodic cluster headache, the acute and preventive treatment of migraines in adolescents, and paroxysmal hemicrania and hemicrania continua in adults.

For more information, visit www.electrocore.com.

About gammaCoreTM
gammaCoreTM (nVNS) is the first non-invasive, hand-held medical therapy applied at the neck as an adjunctive therapy to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable, easy-to-use technology, gammaCore can be self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.

gammaCore (nVNS) is FDA cleared in 
the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, and the acute and preventive treatment of migraine in adolescent (ages 12 and older) and adult patients, and paroxysmal hemicrania and hemicrania continua in adult patients. gammaCore is CE-marked in the 
European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults.

gammaCore is contraindicated for patients if they:

  • Have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
  • Have a metallic device, such as a stent, bone plate, or bone screw, implanted at or near the neck
  • Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)

Safety and efficacy of gammaCore have not been evaluated in the following patients:

  • Adolescent patients with congenital cardiac issues
  • Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
  • Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
  • Pediatric patients (less than 12 years)
  • Pregnant women
  • Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia

Please refer to the gammaCore Instructions for Use for all of the important warnings and precautions before using or prescribing this product.

Forward-Looking Statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore’s business prospects and clinical and product development plans (including with respect to enrollment in ongoing studies); its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the issuance of 
U.S. and international patents providing expanded IP coverage; the possibility of future business models and revenue streams from the company’s potential utilizing nVNS for symptoms associated with migraine with aura, the potential of nVNS generally and gammaCore in particular and other statements that are not historical in nature, particularly those that utilize terminology such as “anticipates,” “will,” “expects,” “believes,” “intends,” other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, the potential impact and effects of COVID-19 on the business of electroCore, electroCore’s results of operations and financial performance, and any measures electroCore has and may take in response to COVID-19 and any expectations electroCore may have with respect thereto, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the 
SEC available at www.sec.gov.

Investors:
Rich Cockrell

CG Capital
404-736-3838
ecor@cg.capital

or

Media Contact:
Jackie Dorsky
electroCore
908-313-6331
jackie.dorsky@electrocore.com

Release – electroCore Inc. Broadens Patient Access to gammaCore with Launch of U.S. Telehealth Portal and Online Store

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electroCore, Inc. Broadens Patient Access to gammaCore with Launch of U.S. Telehealth Portal and Online Store

News and Market Data on electroCore

 

ROCKAWAY, N.J., 
Jan. 11, 2022 (GLOBE NEWSWIRE) — electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced the launch of an e-commerce shop for patients residing in 
the United States. The site, which can be accessed through www.gammacore.com, allows patients to complete a telehealth consult for a prescription and purchase gammaCore Sapphire™, a non-invasive vagus nerve stimulator (nVNS) device, online.

The online store offers therapy to patients for FDA-cleared indications like migraine and cluster headache. The store platform is powered by 
Vytal, LLC and allows patients to obtain a prescription via telehealth consult, purchase the therapy directly from the site, have a member of the 
U.S. electroCore customer service team provide post-purchase video conference training, and receive the device at their doorstep.

“The launch of an online store is a tremendous step forward in our company’s cash pay, direct-to-consumer strategy,” stated  Joshua Lev, Chief Strategy Officer at electroCore. “More and more patients are utilizing online channels to manage their health, and the launch of our new online store builds on the trend of patients taking control of their healthcare. We are very excited to offer patients the ability to obtain nVNS therapy from the comfort of their home. The new functionality provides direct access to millions of migraine and cluster headache sufferers who can benefit from gammaCore nVNS therapy.”

“We are thrilled to be a part of electroCore’s direct-to-consumer initiative to treat migraines and cluster headaches. Our end-to-end solution for patient access to gammaCore allows a seamless patient experience that should help patients access this unique, proven therapy,” said  Jerry Gross, Founder and CEO of Vytal.

About Vytal, LLC.
Vytal is a healthcare technology company offering comprehensive, compliant technology solutions that enable manufacturers, pharmacies, provider networks, wellness ecommerce companies, and virtual health platforms to manage, grow, and scale their operations. Vytal’s data-driven direct-to-consumer ecommerce platform enables healthcare manufacturers to reach more patients and boost brand awareness. For more information visit https://www.vytal.care.

About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine company dedicated to improving patient outcomes through its non-invasive vagus nerve stimulation therapy platform, initially focused on the treatment of multiple conditions in neurology. The company’s current indications are the preventive treatment of cluster headache and migraine, the acute treatment of migraine and episodic cluster headache, the acute and preventive treatment of migraines in adolescents, and paroxysmal hemicrania and hemicrania continua in adults.

For more information, visit www.electrocore.com.

About gammaCoreTM
gammaCoreTM (nVNS) is the first non-invasive hand-held medical therapy applied at the neck as an adjunctive therapy to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable easy-to-use technology, gammaCore can be self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.

gammaCore (nVNS) is FDA-cleared in 
the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, and the acute and preventive treatment of migraine in adolescent (ages 12 and older) and adult patients. gammaCore is CE-marked in the 
European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults.

gammaCore is contraindicated for patients if they:

  • Have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
  • Have a metallic device, such as a stent, bone plate, or bone screw, implanted at or near the neck
  • Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)

Safety and efficacy of gammaCore have not been evaluated in the following patients:

  • Adolescent patients with congenital cardiac issues
  • Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
  • Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
  • Pediatric patients (less than 12 years)
  • Pregnant women
  • Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia

Please refer to the gammaCore Instructions for Use for all important warnings and precautions before using or prescribing this product.

For more information, please visit www.gammacore.com.

Forward-Looking Statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore’s business prospects and clinical and product development plans; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the Company’s business prospects in 
the United States (including its e-commerce initiative) and other new markets and other statements that are not historical in nature, particularly those that utilize terminology such as “anticipates,” “will,” “expects,” “believes,” “intends,” other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, the potential impact and effects of COVID-19 on the business of electroCore, electroCore’s results of operations and financial performance, and any measures electroCore has and may take in response to COVID-19 and any expectations electroCore may have with respect thereto, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the 
SEC available at www.sec.gov.

Investors:
Rich Cockrell

CG Capital
404-736-3838
ecor@cg.capital 

or

Media Contact:
Jackie Dorsky
electroCore
908-313-6331
Jackie.dorsky@electrocore.com 

The GEO Group Inc. (GEO) – What Do The Debt Negotiations Reveal

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Tuesday, January 11, 2022

The GEO Group, Inc. (GEO)
What Do The Debt Negotiations Reveal?

With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Debt Negotiations. Late last week, GEO filed an 8-K with the SEC highlighting confidential discussions that the Company has engaged in with certain holders of its secured debt concerning a potential refinancing, exchange, recapitalization, or other transaction. While no agreement has been reached yet, negotiations are expected to continue.

    Business Model Highlights.  We believe the presentation highlights the strength of GEO’s operating model. For example, management’s long-term financial forecast anticipates relatively flat revenues, adjusted EBITDA, and unlevered free cash flow through the 2024 forecast period, even factoring in the negative impact of the President’s executive order …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.