Release – Dr. Patrick Gruber to Participate in a Water Tower Research Fireside Chat on Thursday, June 2 at 4:00 pm EDT



Dr. Patrick Gruber to Participate in a Water Tower Research Fireside Chat on Thursday, June 2 at 4:00 pm EDT

Research, News, and Market Data on Gevo

ENGLEWOOD, Colo., May 26, 2022 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ:GEVO), announced today that Dr. Patrick Gruber, Chief Executive Officer, will participate in a Water Tower Research Fireside Chat on Thursday, June 2, 2022 at 4:00 pm EDT.

Topic: Business Overview

Investors and other persons interested in participating in the event must register using the link below. Please note that the replay may be accessed at any time after the presentation ends on June 2, 2022, utilizing the same registration link.

Registration Link:

https://globalmeet.webcasts.com/starthere.jsp?ei=1550774&tp_key=8c41aff149

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo also plans to take advantage of decarbonization via geological sequestration in the future. Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions.

Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Gevo Investor and Media Contact

Heather L. Manuel

+1 720-418-0085

IR@gevo.com


Release – Energy Fuels (UUUU) Announces Election of Directors

 


 


Energy Fuels Announces Election of Directors

Research, News, and Market Data on Energy Fuels

LAKEWOOD, Colo., May 25, 2022 /CNW/ – Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR) (“Energy Fuels” or the “Company”), the leading uranium producer in the United States, announces the results of the election of directors at its annual meeting of shareholders (the “Meeting“) held virtually on May 25, 2022.

The ten (10) nominees proposed by management for election as directors were elected by the shareholders of the Company, through a combination of votes by proxy and electronic poll, as follows:

Nominee

Votes For

% For

Votes Withheld

% Withheld

J. Birks Bovaird

28,895,258

84.00%

5,504,196

16.00%

Mark S. Chalmers

34,174,259

99.35%

225,195

0.65%

Benjamin Eshleman III

33,122,677

96.29%

1,276,777

3.71%

Ivy V. Estabrooke

34,046,339

98.97%

353,115

1.03%

Barbara A. Filas

33,578,211

97.61%

821,243

2.39%

Bruce D. Hansen

33,031,520

96.02%

1,367,934

3.98%

Jaqueline Herrera

33,885,122

98.50%

514,332

1.50%

Dennis L. Higgs

33,942,354

98.67%

457,100

1.33%

Robert W. Kirkwood

33,124,267

96.29%

1,275,187

3.71%

Alexander Morrison

33,845,484

98.39%

553,970

1.61%

About
Energy Fuels
: Energy Fuels is a leading U.S.-based uranium mining company, supplying U3Oto major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up commercial-scale production of rare earth element (“REE“) carbonate. Its corporate offices are in Lakewood, Colorado, near Denver, and all its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR“) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3Oper year, and has the ability to recycle alternate feed materials from third parties, to produce vanadium when market conditions warrant, and to produce REE carbonate from various uranium-bearing ores. Energy Fuels is also evaluating the potential to recover medical isotopes for use in targeted alpha therapy cancer treatments. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3Oper year. In addition to the above production facilities, Energy Fuels also has one of the largest SK-1300/NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

SOURCE Energy Fuels Inc.


Release – BioSig Advances its PURE™ System Commercial Launch to Medical Centers Nationwide



BioSig Advances its PURE™ System Commercial Launch to Medical Centers Nationwide

News and Market Data on BioSig Technologies

May 26, 2022

Westport, CT, May 26, 2022 (GLOBE NEWSWIRE) —

  • Commercial pipeline to include 30 advanced
    leads at Medical Centers of Excellence
  • Company’s development and
    operational infrastructure will be on track to support anticipated sales
    growth following commercial rollout on July 1, 2022

BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the “Company”), a medical technology company advancing electrophysiology workflow by delivering greater intracardiac signal fidelity through its proprietary signal processing platform, today announced the rollout of the Company’s national commercial launch campaign.

Under the leadership of its Chief Commercial Officer Gray Fleming, BioSig has implemented several important initiatives to accelerate the transition from its limited market release to a national launch of its PURE EP(TM) System. The Company currently has over 30 qualified leads ahead of its official commercial kick-off, expected to commence on July 1, 2022. The PURE EP(TM) is an FDA 510(k) cleared non-invasive class II device that aims to drive procedural efficiency and efficacy in cardiac electrophysiology. To date, more than 73 physicians have completed over 2,200 patient cases with the PURE EP(TM) System.

Commercial strategy highlights include:

  • Business agreement with Summit Blue Capital to implement a leasing and finance program for the PURE EP(TM) System. The agreement aims to expedite the pathway to purchase and increase the of scope PURE EP(TM) adopters across the U.S.
  • Streamlined product evaluations from 180-360 days to 60 days with a succinct clinical and economic value proposition that showcases the advantages of the technology and accelerates adoption.   
  • Strengthened management, commercial, clinical, and marketing teams under the leadership of Gray Fleming, Chief Commercial Officer, who spent 18 years with St. Jude Medical/Abbott.
  • Restructured clinical support and installation teams in preparation for increased commercial activity. The Company’s new commercial structure includes national account directors covering five regions in the United States to support product evaluations and the rapid transformation of qualified leads into sales.
  • Implemented an effective CRM system and pipeline management system to support sales opportunities and streamline data and customer engagements.
  • Company to implement new brand strategy and marketing programs to reflect business growth and evolution. These efforts include an updated website and new visual content and branding.

 

“As a Company we have worked tirelessly to reach this point to commercially roll out our PURE(TM) System nationwide. We have put the right people in place and have executed on a strategy to see this come to fruition. We believe July 2022 will be a major milestone for our Company and we look forward to collaborating with our new medical centers that recognize the invaluable benefits of Pure EP(TM) for their patients,” commented Kenneth L. Londoner, Chairman and CEO of BioSig Technologies, Inc.

Clinical data acquired by the PURE EP(TM) System in a multi-center study at centers of excellence including Texas Cardiac Arrhythmia Institute at St. David’s Medical Center and Mayo Clinic was recently published in the Journal of Cardiovascular Electrophysiology and is available electronically with open access via the 
Wiley Online Library. Study results showed 93% consensus across the blinded reviewers with a 75% overall improvement in intracardiac signal quality and confidence in interpreting PURE EP™ signals over conventional sources.

About BioSig
Technologies

BioSig Technologies is a medical technology company commercializing a proprietary biomedical signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals (www.biosig.com).

The Company’s first product, PURE EP™ System, is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording, and storing electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures in an EP laboratory.

Forward-looking
Statements

 This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified, and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the geographic, social, and economic impact of COVID-19 on our ability to conduct our business and raise capital in the future when needed, (ii) our inability to manufacture our products and product candidates on a commercial scale on our own, or in collaboration with third parties; (iii) difficulties in obtaining financing on commercially reasonable terms; (iv) changes in the size and nature of our competition; (v) loss of one or more key executives or scientists; and (vi) difficulties in securing regulatory approval to market our products and product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events, or otherwise.


Andrew Ballou

BioSig Technologies, Inc.

Vice President, Investor Relations

55 Greens Farms Road

Westport, CT 06880

aballou@biosigtech.com

203-409-5444, x133


Is Michael Burry Frustrated that the Market Hasn’t Yet Crashed?


Image Credit: Daniel Mennerich (Flickr)


A Close Look at Michael Burry’s Plane Crash Comments

Michael Burry tweeted, “Fads today (#BTC, #EV, SAAS #memestocks) are like housing in 2007,” in March of this year. For almost a year now, the famed hedge fund manager has been predicting market tragedy, as he correctly did before the great recession. On Tuesday (May 24) he again warned that his feelings about the economy and various markets are the same as they were in 2008. He indicated he isn’t cheering for it, but he’s warning that people should prepare for it.


Image: Michael Burry’s May 24 Tweet

While Burry is regularly warning others to run for cover and prepare for doom, there is little in his company’s filing of public investment
positions
that would indicate that he has any doomsday positions. In fact, he had added long positions in energy (OVV) which could weaken during a receding economy, and consumer discretionary goods (SPWH, STLA), which are by definition an area where households can cut back in hard times. One of these may have been a temporary dividend play, not a longer holding. His hedge fund held puts on one large technology company (AAPL) and was long two others (GOOGL, FB).

The assets reported on form 13F to the SEC is not necessarily his entire portfolio. After all, when he used credit default swaps as part of his “big short” they were not at the time overseen by the SEC. His company may be employing another method that is off the regulatory radar. The SEC has not yet regulated pure cryptocurrency.

The Big Question

The Scion Asset Management founder posted his tweet this week (then
deleted it
) after data for new single family home sales for April were released. The report showed home sales fell an unexpected 26.9% over the previous April.— well off the consensus forecast. On the same day, the S&P 500 index tumbled 2.5%, bringing its YTD slide to -18%.

If Michael Burry is so perturbed by his own forecast of economic problems and markets like housing, stocks, and credit instruments, why is he warning people? Burry is famous for his prediction and his ability to capitalize on having been right in 2007-2008. This fame attracted many followers. His public tweets of warning could become an impetus to weaken asset prices. He could become part of the fuel that brings his prediction of doom to reality.

To say he is brilliant economically is an understatement, he must know the power of his words. And his words can serve to alter investor actions. (Share your thoughts under this article on Twitter).

Take-Away

Burry has predicted the next market crash will dwarf the 2008 bust, That event sparked a global financial crisis. He seldom gives interviews and when he does it is typically through a Bloomberg terminal with Bloomberg News.

As head of Scion Capital Management Burry became one of the most followed hedge-fund managers after predicting and making his clients a fortune betting on the housing-market crash in 2007/2008. He has repeatedly drawn parallels between the run-up in asset prices during the COVID-19 pandemic and the bubble that made him famous. The warnings he now is giving don’t seem to add up with his portfolio positions, unless he is involved in non-securities like real estate, cryptocurrency, or some other asset type.

Paul Hoffman

Managing Editor, Channelchek

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Sources

https://www.thestreet.com/technology/is-the-financial-crash-of-2008-about-to-repeat

https://www.sec.gov/opa/Article/press-release-2012-67—related-materials.html

https://mobile.twitter.com/burrydeleted?lang=en

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Grindrod Shipping (GRIN) – Grindrod reports impressive growth, largely as expected

Thursday, May 26, 2022

Grindrod Shipping (GRIN)
Grindrod reports impressive growth, largely as expected

Grindrod Shipping operates a fleet of owned and long-term and short-term chartered-in drybulk vessels predominantly in the handysize and supramax/ultramax segments. The drybulk business, which operates under the brand “Island View Shipping” (“IVS”), includes a Core Fleet of 31 vessels consisting of 15 handysize drybulk carriers and 16 supramax/ultramax drybulk carriers. The Company also owns one medium range product tanker on bareboat charter. The Company is based in Singapore, with offices in London, Durban, Tokyo, Cape Town and Rotterdam. Grindrod Shipping is listed on NASDAQ under the ticker “GRIN” and on the JSE under the ticker “GSH”.

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

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

2022-1Q Results demonstrate leverage to shipping rates. Grindrod reported revenues of $110.3 million, up 61% over the same period last year on healthy Handysize and Supramax/Ultramax TCE rates. Operating costs rose only modestly leading the company to report gross profits of $40.7 million versus $12.6 million and adjusted EBITDA of $50.2 million versus $21.2 million. Adjusted net income for the quarter was $29.8 million ($1.60 per share) versus $2.4 million ($0.11 per share). Results were generally in line with expectations.

Speaking of vessel acquisitions. One of Grindrod’s strengths is its ability to exercise options to purchase chartered-in vessels at what has become very attractive pricing. It exercised the right to purchase the IVS Pinehurst for $18 million earlier this month. All told, the company can exercise options to acquire four more vessels over the next three years. …

This 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. 

Improving Metal Properties to Improve Product Design and Function


Image Credit: MIT Research


Researchers Unveil a Secret of Stronger Metals

David L. Chandler | MIT
News Office

Forming metal into the shapes needed for various purposes can be done in many ways, including casting, machining, rolling, and forging. These processes affect the sizes and shapes of the tiny crystalline grains that make up the bulk metal, whether it be steel, aluminum or other widely used metals and alloys.

Now researchers at MIT have been able to study exactly what happens as these crystal grains form during an extreme deformation process, at the tiniest scales, down to a few nanometers across. The new findings could lead to improved ways of processing to produce better, more consistent properties such as hardness and toughness.

The new findings, made possible by detailed analysis of images from a suite of powerful imaging systems, are reported today in the journal Nature Materials, in a paper by former MIT postdoc Ahmed Tiamiyu (now assistant professor at the University of Calgary); MIT professors Christopher Schuh, Keith Nelson, and James LeBeau; former student Edward Pang; and current student Xi Chen.

“In the process of making a metal, you are endowing it with a certain structure, and that structure will dictate its properties in service,” Schuh says. In general, the smaller the grain size, the stronger the resulting metal. Striving to improve strength and toughness by making the grain sizes smaller “has been an overarching theme in all of metallurgy, in all metals, for the past 80 years,” he says.

Metallurgists have long applied a variety of empirically developed methods for reducing the sizes of the grains in a piece of solid metal, generally by imparting various kinds of strain through deforming it in one way or another. But it’s not easy to make these grains smaller.

The primary method is called recrystallization, in which the metal is deformed and heated. This creates many small defects throughout the piece, which are “highly disordered and all over the place,” says Schuh, who is the Danae and Vasilis Salapatas Professor of Metallurgy.  

When the metal is deformed and heated, then all those defects can spontaneously form the nuclei of new crystals. “You go from this messy soup of defects to freshly new nucleated crystals. And because they’re freshly nucleated, they start very small,” leading to a structure with much smaller grains, Schuh explains.

What’s unique about the new work, he says, is determining how this process takes place at very high speed and the smallest scales. Whereas typical metal-forming processes like forging or sheet rolling, may be quite fast, this new analysis looks at processes that are “several orders of magnitude faster,” Schuh says.

“We use a laser to launch metal particles at supersonic speeds. To say it happens in the blink of an eye would be an incredible understatement, because you could do thousands of these in the blink of an eye,” says Schuh.

Such a high-speed process is not just a laboratory curiosity, he says. “There are industrial processes where things do happen at that speed.” These include high-speed machining; high-energy milling of metal powder; and a method called cold spray, for forming coatings. In their experiments, “we’ve tried to understand that recrystallization process under those very extreme rates, and because the rates are so high, no one has really been able to dig in there and look systematically at that process before,” he says.

Using a laser-based system to shoot 10-micrometer particles at a surface, Tiamiyu, who carried out the experiments, “could shoot these particles one at a time, and really measure how fast they are going and how hard they hit,” Schuh says. Shooting the particles at ever-faster speeds, he would then cut them open to see how the grain structure evolved, down to the nanometer scale, using a variety of sophisticated microscopy techniques at the MIT.nano facility, in collaboration with microscopy specialists.

The result was the discovery of what Schuh says is a “novel pathway” by which grains were forming down to the nanometer scale. The new pathway, which they call nano-twinning assisted recrystallization, is a variation of a known phenomenon in metals called twinning, a particular kind of defect in which part of the crystalline structure flips its orientation. It’s a “mirror symmetry flip, and you end up getting these stripey patterns where the metal flips its orientation and flips back again, like a herringbone pattern,” he says. The team found that the higher the rate of these impacts, the more this process took place, leading to ever smaller grains as those nanoscale “twins” broke up into new crystal grains.

In the experiments they did using copper, the process of bombarding the surface with these tiny particles at high speed could increase the metal’s strength about tenfold. “This is not a small change in properties,” Schuh says, and that result is not surprising since it’s an extension of the known effect of hardening that comes from the hammer blows of ordinary forging. “This is sort of a hyper-forging type of phenomenon that we’re talking about.”

In the experiments, they were able to apply a wide range of imaging and measurements to the exact same particles and impact sites, Schuh says: “So, we end up getting a multimodal view. We get different lenses on the same exact region and material, and when you put all that together, you have just a richness of quantitative detail about what’s going on that a single technique alone wouldn’t provide.”

Because the new findings provide guidance about the degree of deformation needed, how fast that deformation takes place, and the temperatures to use for maximum effect for any given specific metals or processing methods, they can be directly applied right away to real-world metals production, Tiamiyu says. The graphs they produced from the experimental work should be generally applicable. “They’re not just hypothetical lines,” Tiamiyu says. For any given metals or alloys, “if you’re trying to determine if nanograins will form, if you have the parameters, just slot it in there” into the formulas they developed, and the results should show what kind of grain structure can be expected from given rates of impact and given temperatures.

The research was supported by the U.S. Department of Energy, the Office of Naval Research, and the Natural Sciences and Engineering Research Council of Canada.

 

Reprinted with permission of MIT News (http://news.mit.edu/)


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Nasdaq Listed Biotech Companies Under $160M Market Cap


Nasdaq Listed Biotechnology Companies Under $160M Market Cap 

With Cash & Equivalents – Cash above Market Cap – Trading % of Cash

Download
the Excel File from Noble

This document is provided by NobleLSP, a division of Noble Capital Markets, Inc.

Financial data is sourced from CapitalIQ, and is up-to-date as of 5/18/2022.

No investment decision should be based upon the content of this document.  You should always consult an investment professional and consider the risk and suitability of any investment.

Noble Capital Markets publishes research on the following companies contained in the document: Tonix Pharmaceuticals, Genprex, PDS Biotechnology, Axcella Health

The following research disclosures pertain to these companies :

“The Company in this report is a participant in the Company Sponsored Research Program (“CSRP”); Noble receives compensation from the Company for such participation. No part of the CSRP compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed by the analyst in this research report.”

“Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) within the next 3 months.”

Please refer to the most recent research report published on each company (linked above) for up-to-date company specific disclosures.

Download
the Excel File from Noble

What is a Bifurcated Market? (In 500 Words or Less)



Market Bifurcation Can Confuse Investors

Market bifurcation happens when relative moves between stock groupings that usually trade in semi-tandem, branch into different directions. A classic example would be energy stocks and the travel industry. When energy prices are stable, the two typically move up and down in rough synch with the overall market. When energy costs quickly rise, travel stocks may become weaker and even move in the complete opposite direction. This disconnect, branching in different directions, is called bifurcation.

Other bifurcation possibilities could include growth stocks and value, tech and industrials, and consumer cyclical vs. non-cyclical.  The move in different directions, typically ebbing and flowing together, can be long-lived and last for months, or short-lived lasting only days.


Soruce: Koyfin.com

The graph above demonstrates a bifurcation between large industrial stocks represented by the Dow 30, and large tech stocks represented by the Nasdaq 100.

While this only shows three trading days (May 20, 2022-May 24, 2022) The bifurcation between the two, which had previously tracked in the same direction, is extreme. Investors may play bifurcation by expectations that the two will eventually revert to their mean. Shorter-term traders should recognize the split early since the two major benchmarks are acting in complete contrast to the other.

There is no telling how long a bifurcation will last. As with most market anomalies, expectations of how long the cause of the trend will exist dictates the future. The Nasdaq, over the past three years (May 2019- May 2022) has trounced the Dow 30 performance, earning an additional 35%.  The two typically tack closer. This may indicate the beginning of a rotation and money flows out of the high PE Nasdaq 100 and into more conservative dividend-paying companies.

It is unclear if a long-lived trend has developed until entrenched (three days does not make a trend). But an astute trader will pick up on early signs of strength and weakness in order to recognize market rotations. They may choose to take advantage of – or steer clear of these. Active investors may benefit by reallocating with a larger percentage in the stronger areas of a bifurcated market and reducing allocation in the weaker. 

Paul Hoffman

Managing Editor, Channelchek

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What Investors Haven’t Yet Noticed About the Value in Some Biotechs


Image Credit: Karolina Grabowska (Pexels)


When Stocks in a Sector are Trading for Less than Their Cash on Hand, it May be Time to Bargain Hunt

If you’re shopping for a wallet and one comes complete with $100 worth of cash inside and is priced at $60, would you think there is value to this purchase? A situation similar to this has evolved in many biotech stocks. Their balance sheet cash and cash equivalents exceed their market value. Whether the broader market recognizes the value in these companies and pushes prices up, or large-pharma, currently flush with cash, swoops in to own more than their purchase price, remains to be seen. But, the value many of these firms offer is more than just their R&D, patents, or product pipeline. It is also measurable assets in excess of where the market currently values the company.

Background

The Nasdaq Small-Cap Biotech Index did well beginning March 20, 2020.  At the time the race was on for a vaccine for the novel coronavirus and attention was being paid to these smaller, more nimble firms. The index rose from a low on March 20 of 2,667 to reach a high of 7,052 on February 5, 2021, just after vaccines began being distributed. That’s a 164% increase in 10 months. During that period, if you were a biotech firm, raising capital was easier than it had been in years.

From February 2021, the index began a long slide and is actually cheaper than it had been before the initial run-up. The index is now at 2,437 (May 25).

Valuations

Number crunchers at Noble Capital Markets created a list of all Nasdaq-listed biotech companies with Market Caps below $160 million. They then netted the market cap from the corporate cash position on each. The results are surprising. The list of companies is 267 long, and more than half (135), held cash and equivalents that exceeded their market value.

While a full evaluation of any company, including its cash burn rate, and future prospects is necessary, by this one measure, there are a number of potential positive outcomes for these seemingly undervalued companies.  

First, investors could begin to recognize value. As institutional and retail investors begin to become aware of the value in this sector, they may begin allocating more to small-cap biotechs.

The second is that big pharma is flush with cash. Their cumulative position is now over $300 billion. The entire group of companies with more cash than market cap has a combined market cap of $6.5 billion (values shown in green on the linked
spreadsheet
). (Note: the linked spreadsheet is available exclusively for Channelchek members. Registration is free)

Third, the FDA has more free time. The pandemic put the arm of the FDA that reviews and approves new drugs and vaccines under more pressure than normal. Those resources are presumably more available now to review and approve non-pandemic-related applications.

Fourth medicine and therapies are largely recession-proof. Keeping money out of the stock market exposes investors to the erosion of an 8% inflation rate. Money in the market exposes investors to stocks that are still, by many measures overvalued. The biotech sector is not guaranteed to be revived anytime soon, but the case that it is overvalued is a tough one to make in light of the assets vs. price of these corporations.

Examples

While there are 267 companies that met the criterion, 135 had cash exceeding market value. Below are three examples as a demonstration of what is included on the spreadsheet:

 Eledon (ELDN) has a market value of 57% of its cash position. In actual dollar amounts, it has a market cap of $43.6 million, and current cash assets of $76.7 million. ELDN is a clinical-stage pharmaceutical company focusing on developing medicines for patients living with autoimmune diseases and requiring an organ or cell-based transplant.

ELDN is currently trading at $3.11 per share.

Tonix Pharmaceuticals (TNXP) has a market value of $39.9 million. According to its March 31, 2022 10-Q, Tonix has $140.4 million in cash and equivalents. This causes cash to be 350% of market value. Tonix is a clinical-stage biopharmaceutical company. It focuses on discovering, acquiring, developing, and licensing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering.

TNXP is currently trading at $1.94 per share.

Sigilon Therapeutics (SGTX)  has a market value of $25.8 million. The company’s cash position is $107.1 million which is 314% of the market value. Sigilon is a clinical-stage biopharmaceutical company. It’s developing a new class of therapeutics and functional cures for patients with chronic diseases by providing stable and durable levels of therapeutic molecules.

SGTX is currently trading at $0.74 per share.

 

Take-Away

For a brief moment in 2020, oil prices were so low that oil futures were negative – you could actually get paid to own an oil contract. Some months after this situation, the entire energy sector became the best performing industry. It still is. Small-cap biotech may now be experiencing its own oversold conditions.

An investment in some companies is backed by more cash and other assets than it would cost the investor or acquirer. There are four companies on the linked list trading at a level where the net cash is four times the market cap.

The biotech sector appears ripe for attention by bottom-pickers.

Paul Hoffman

Managing Editor, Channelchek

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Where are Consumers Most Likely to Spend Their Leisure Budget?



Small-Cap Stock Category Sees Most Insiders Buying Since Spring of 2020

Sources

https://channelchek.com/news-channel/Nasdaq_Listed_Biotech_Companies_Under_$160M_Market_Cap

www.channelchek.com

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Euroseas (ESEA) – ESEA reported impressive 2022-1Q results reflecting an expanded fleet and higher shipping rates.

Wednesday, May 25, 2022

Euroseas (ESEA)
ESEA reported impressive 2022-1Q results reflecting an expanded fleet and higher shipping rates.

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

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

2022-1Q results were impressive. ESEA reported Net Revenues of $45.5m (up 217%) versus our $40.5 million estimate. TCE rates were $33,986 versus $12,218 and our estimate of $30,114. While revenues more than doubled, operating costs rose a modest 5.3% versus last year. Operating income rose 515%, adjusted EBITDA rose 455%, adjusted net income rose 793%; all ahead of our expectations.

The company is growing and locking in charter rates. ESEA recently signed newbuild agreements on three ships, agreed to acquire two container vessels, and exercised options for two more constructions. In addition, it has extended a charter and locked in charter rates for two upcoming deliveries, all at favorable rates. The impact of these actions will be to significantly increase and modernize the company’s fleet size, provide attractive returns on the investment, and lock in strong earnings and cash flow for the immediate future. …

This 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. 

RCI Hospitality Holdings (RICK) – Ups Buyback Authorization By $25 Million

Wednesday, May 25, 2022

RCI Hospitality Holdings (RICK)
Ups Buyback Authorization By $25 Million

With more than 50 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in gentlemen’s clubs and sports bars/restaurants. Clubs in New York City, Chicago, Dallas-Fort Worth, Houston, Miami, Minneapolis, Denver, St. Louis, Charlotte, Pittsburgh, Raleigh, Louisville, and other markets operate under brand names such as Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars Club, Tootsie’s Cabaret, and Scarlett’s Cabaret. Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar.

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.

Additional Authorization. Yesterday, RCI Hospitality Holdings’ Board of Directors authorized increasing the amount available under the company’s share repurchase program by an additional $25.0 million. Buybacks are one of three uses for free cash flow under the Company’s capital allocation plan and with the shares closing yesterday at $51.58, just above the 52-week low and 45% below the January 52-week high of $94.33, we believe the shares represent an attractive use of capital.

Recent Purchases. Through the first six months of fiscal 2022, RCI repurchased 45,643 shares at a cost of $2.85 million, or about $62.33 per share on average. From fiscal year 2016, when the company started implementing its capital allocation strategy, through the second quarter of fiscal 2022, RCI has invested approximately $25.4 million repurchasing approximately 1.6 million shares at an average of $15.88 per share….

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. 

Defense Metals Corp. (DFMTF) – Important Catalysts on the Horizon

Wednesday, May 25, 2022

Defense Metals Corp. (DFMTF)
Important Catalysts on the Horizon

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

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

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

Drilling to commence shortly. Defense Metals expects to commence a 5,300-meter drilling program shortly to expand and upgrade resources at the Wicheeda Rare Earth Element Project which will be incorporated, along with results from the 2021 drill program, into a preliminary feasibility study (PFS) to be released during the first half of 2023. The program will also include geotechnical and hydrological drilling to support preliminary feasibility-level mine planning studies.

SRK tapped to assist with geotechnical field drilling program. Defense Metals has retained SRK Consulting (Canada) Inc. to assist with planning and implementing the geotechnical field drilling program, including determining optimal drill locations, data collection methods, and downhole surveying. SRK prepared the January 2022 Wicheeda preliminary economic assessment….

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 – BioSig’s PURE EP System to be Featured During EPLive 2022



BioSig’s PURE EP™ System to be Featured During EPLive 2022

News and Market Data on BioSig Technologies

The Company’s flagship technology to be featured during a
two-day educational conference that draws the world’s top cardiac
electrophysiology experts

Westport, CT, May 25, 2022 (GLOBE NEWSWIRE) — BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the “Company”), a medical technology company advancing electrophysiology workflow by delivering greater intracardiac signal fidelity through its proprietary signal processing platform, today announced that its flagship technology will be featured during EPlive, a hybrid event taking place at St. David’s Medical Center in Austin, Texas from June 2-3, 2022.

EPLive is a two-day intensive educational meeting for practicing clinical cardiac electrophysiologists, electrophysiologist fellows and general cardiologists who have an interest in treating complex cardiac arrhythmias. During the event, BioSig will be exhibiting and offering technology demonstrations, including features of its newly released PURE EP NOVA-5 Software. Enhanced with NOVA-5 Software, the Company believes that the PURE EP(TM) System delivers a new standard in signal processing, offering greater customization and smarter workflows. Additionally, the Company will showcase the next generation of PURE EP(TM) Software Modules currently in advanced development stages.

The concept for EPLive was first created and developed by Dr. Andrea Natale, Cardiac Electrophysiologist at St. David’s Medical Center in Austin, Texas. As an internationally respected physician and leader in the field of cardiac electrophysiology, Dr. Natale is passionate about education, training and knowledge sharing when it comes to delivering the best possible care to arrhythmia patients. As the first center to commercially adopt the PURE EP(TM) System, Dr. Natale and the physicians at Texas Cardiac Arrhythmia Institute (TCAI) have performed over 500 cases with the PURE EP(TM) System since its installation in November 2019.

“We have spent approximately thirteen years working in collaboration with the physicians at TCAI to bring this important innovation to market. Our collaboration with this center of excellence has supported our company in so many positive ways and we are excited to participate in this great event,” commented Kenneth L. Londoner, Chairman and CEO of BioSig Technologies, Inc.

To
register to attend the event, please 
click here.

The PURE EP(TM) is an FDA 510(k) cleared non-invasive class II device that aims to drive procedural efficiency and efficacy in cardiac electrophysiology. To date, more than 73 physicians have completed over 2,200 patient cases with the PURE EP(TM) System.

Clinical data acquired by the PURE EP™ System in a multi-center study at centers of excellence including Texas Cardiac Arrhythmia Institute at St. David’s Medical Center and Mayo Clinic was recently published in the Journal of Cardiovascular Electrophysiology and is available electronically with open access via the Wiley Online Library. Study results showed 93% consensus across the blinded reviewers with a 75% overall improvement in intracardiac signal quality and confidence in interpreting PURE EP™ signals over conventional sources.

About
EPLive

EPLive is an intensive, two-day educational meeting for practicing clinical cardiac electrophysiologists, electrophysiologist fellows and general cardiologists who have an interest in treating complex cardiac arrhythmias, a condition in which the heart beats with an irregular or abnormal rhythm. Live cases broadcast from the new, state-of-the-art Electrophysiology Center at St. David’s Medical Center, with expert commentary, will serve as the primary teaching tool. EPLive consists of four sections: Atrial Fibrillation (A Fib) ablation, Ventricular Tachycardia (VT) ablation, Devices, and New Technology. The sessions consist of a combination of live and recorded cases from TCAI and some of the world’s premier centers. Cases include procedures such as A Fib ablation and ablation of post-A Fib atrial arrhythmias, VT ablation (endocardial and epicardial), balloon cases (cryo, Apama and laser), CRT implants, SQ ICD and lead extraction and venoplasty. Additionally, EPLive will feature new technology pioneered by physicians at TCAI, including electroporation and leadless dual chamber pacing.

About
BioSig Technologies

BioSig Technologies is a medical technology company commercializing a proprietary biomedical signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals (www.biosig.com).

The Company’s first product, PURE EPä System is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording and storing of electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures in an EP laboratory.

Forward-looking
Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward- looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the geographic, social and economic impact of COVID-19 on our ability to conduct our business and raise capital in the future when needed, (ii) our inability to manufacture our products and product candidates on a commercial scale on our own, or in collaboration with third parties; (iii) difficulties in obtaining financing on commercially reasonable terms; (iv) changes in the size and nature of our competition; (v) loss of one or more key executives or scientists; and (vi) difficulties in securing regulatory approval to market our products and product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. 


Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
55 Greens Farms Road
Westport, CT 06880, US
aballou@biosigtech.com
203-409-5444, x119