June 2023 - Page 11 of 12

Release – Ocugen, Inc. Announces Business Advisory Board

Posted on June 5, 2023June 5, 2023 by aweinsoff@channelchek.com

June 5, 2023

MALVERN, Pa., June 05, 2023 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines, today announced that the Company has established a Business Advisory Board to assist in driving public/private partnerships with governments around the world; pursuing business collaborations, partnerships, and licensing opportunities; creating awareness of the Company’s differentiated capabilities; and promoting access to the Company’s therapies around the world.

“I am delighted to welcome this notable group of advisors to Ocugen,” said Dr. Shankar Musunuri, Chairman, CEO and Co-founder of Ocugen. “At this stage in the Company’s growth, it is critical to foster collaborations—among industry and with government agencies—to continue driving our clinical programs and maximizing value for our shareholders and patients. The Business Advisory Board will provide new insight to our business strategy, while expanding our reach to execute the strategy.”

Ocugen’s Business Advisory Board members have been selected based on their extensive professional backgrounds and proven track record of creating partnerships among the public and private sector. Members include:

Ambassador Joseph W. Westphal, PhD, Global Senior Fellow at the Joseph H. Lauder Institute of Management and International Studies at The Wharton School of The University of Pennsylvania. Dr. Westphal was the U.S. Ambassador to the Kingdom of Saudi Arabia from March 2014 to January 2017. He also held the positions of Assistant Secretary of the Army (Head of the Army Corps of Engineers) from 1998 to 2000 and Acting Secretary of the Army in 2001.

Pat Toomey, U.S. Senator who represented Pennsylvania from 2011 to 2023. As a senior member of the Senate Finance Committee, Senator Toomey helped to develop and pass the 2017 tax reform—the most sweeping reform in over 30 years. He previously served in the U.S. House of Representatives from 1999-2005. In addition to his public service, the senator has also worked in the financial services industry, trading and managing a portfolio of fixed income derivatives first for Chemical Bank and later for Morgan Grenfell.

Dennis Carey, PhD, Vice Chairman of Korn Ferry, where he recruits Board Directors, CEOs, and their direct reports. He has placed and assessed some of the most successful CEOs and directors for over 75 leading companies in the Fortune 500. Dr. Carey founded several forums for Chairmen, CEOs, and C-Suite executives. He has published seven books, his three most recent being, Talent Strategy Risk, Boards that Lead, and Talent Wins. In addition to his books, he has published over 50 refereed journal articles. Dr. Carey also teaches Corporate Governance at The Wharton School of The University of Pennsylvania.

“As the world faces critical challenges to public health from viruses and diseases, the research and development by Ocugen through cell and gene therapies and vaccines is an important effort to address these growing and impactful contributions to world health,” said Ambassador Westphal.

“I look forward to helping advance Ocugen—a leading Pennsylvania Biotech,” said Senator Toomey. “I will always be committed to driving economic growth in the state and this role is an extension of my many years in public office.”

“I’ve watched Ocugen evolve over the last few years as a business consultant and am now honored to join the Business Advisory Board,” said Dr. Carey. “Now is the right time to bring this group together, as there are several transformative milestones ahead in the near term.”

The Business Advisory Board will work alongside the Executive Leadership Team to offer guidance, perspective, and insight to enable the Company to fulfill its mission and achieve its short- and long-term strategy.

About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines that improve health and offer hope for patients across the globe. We are making an impact on patient’s lives through courageous innovation—forging new scientific paths that harness our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with a single product, and we are advancing research in infectious diseases to support public health and orthopedic diseases to address unmet medical needs. Discover more at www.ocugen.com and follow us on Twitter and LinkedIn.

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 statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations. 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.

Contact:
Tiffany Hamilton
Head of Corporate Communications
Tiffany.Hamilton@ocugen.com

Release – MustGrow and Bio Ag Product Strategies Sign Agreement to Develop and Commercialize Soil Amendment & Biofertility Technologies

Posted on June 5, 2023June 5, 2023 by aweinsoff@channelchek.com

Research News and Market Data on MGROF

Mustard plant-based development programs to focus on soil and microbiome health, nutrient and water use efficiencies, and plant yields.
Initial focus in Washington, Oregon, California, Arizona, then U.S. nationwide.

SASKATOON, Saskatchewan, Canada, Jun. 5, 2023 – MustGrow Biologics Corp. (TSXV: MGRO) (OTC: MGROF) (FRA: 0C0) (the “Company” or “MustGrow”), is pleased to announce the signing of a Contract Services Agreement (the “Agreement”) with Oregon-based Bio Ag Product Strategies to develop and commercialize MustGrow’s soil amendment and biofertility technologies, including TerraSanteTM. The Agreement is a non-exclusive contract, leaving MustGrow the ability to seek commercial collaborations and funding partnerships.

MustGrow recently outlined its soil amendment (“Soil Amendment”) and biofertility (“Biofertility”) development programs, and working with Bio Ag Product Strategies to develop and commercialize these technologies demonstrates the Company’s positive progression in those areas. Bio Ag Product Strategies has tremendous knowledge and a great track record of working with organizations to help develop, market, and target key retailers and farmers. MustGrow’s Soil Amendment and Biofertility development programs will focus on soil and soil microbiome health, nutrient and water use efficiencies, and plant yields. Initially, the development work is anticipated to progress in Washington, Oregon, California and Arizona, before expanding nationwide across the United States.

“I am very excited to work with MustGrow to help develop and commercialize their technologies in Soil Amendmnent and Biofertilizers”, commented Bio Ag Product Strategies owner, Tim Lichatowich. “Our industry needs new innovations that can support food production in both conventional and organic agriculture and I believe that MustGrow’s technologies can add a lot of value. The main fruit and vegetable regions of the U.S. are under constant pressure to ban and/or reduce the use of synthetic products, and being able to work with a natural product is promising for commercial-scale adoption.”

Throughout 2022, MustGrow engaged in market research, formulation activities, and prospective partnership discussions, and has added Soil Amendment and Biofertility programs to its growing global intellectual property portfolio which now covers: preplant biocontrol, postharvest food preservation and now Soil Amendment and Biofertility applications.

MustGrow believes this Soil Amendment and Biofertility initiative will concurrently be developed alongside its other programs in biocontrol, which include preplant soil fumigation, postharvest food preservation, and bioherbicide, which are currently under development with four global partners: Janssen PMP, Bayer, Sumitomo Corporation, and NexusBioAg.

TerraSante^TM for Soil and Ecological Health

Soil is a farmer’s most valuable and precious asset, and MustGrow’s plant-based technologies are being developed to improve not only the health of the soil, but also the surrounding ecological environment.

As a soil conditioner in mixable form, TerraSante^TM contains nutritious plant proteins and carbohydrates that feed soil microbes, potentionally improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities are shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSante^TM has the potential to improve crop nutrient uptake and, hence, overall crop performance. There are no artificial additives or preservatives used during manufacturing.

MustGrow is initially pursuing TerraSante^TM branded registrations in North America for Soil Amendment applications, followed by formulations and brands targeting the Biofertility markets. The Soil Amendment and Biofertility products will utilize multiple technologies derived from novel plant-based extracts from mustard and potentially other sources.

Soil Amendment and Biofertility Marketplace

The global fertilizer market is anticipated to reach US$242 billion by 2030, up from US$193 billion in 2021 (2.5% CAGR).⁽¹⁾ This aggregate fertilizer figure includes the following sub-markets, which MustGrow intends to target with TerraSante^TM and potentially other branded products:

Soil Amendment: estimated market size in 2022 was US$3.5 billion and is expected to be US$8.0 billion by 2030 (11.0% CAGR).⁽²⁾
Biofertility: estimated market size in 2021 was US$2.7 billion and is estimated to be US$7.0 billion by 2030 (12.3% CAGR).⁽³⁾

Combined, these additional market segments have the potential to add over US$15 billion of target market opportunity globably for MustGrow by 2030, almost double from the initially targeted Biocontrol market

Alternatives to Synthetic Fertilizers are Needed

With the world’s population expanding, agriculture production and global food security are increasingly important. Fertilizers continue to play a critical role in agriculture, yet plans to reduce their use have been amplified in recent years to minimize the negative consequences of climate change through emission reduction strategies. Canada, for example, has set a voluntary national fertilizer emissions reduction target of 30% below 2020 levels by 2030 to lower greenhouse gas emissions.⁽²⁾ Sustainable, climate-friendly solutions may play a role in helping to offset this reduction while balancing the nation’s economic health. For example, Canada’s fertilizer industry directly and indirectly supports over 76,000 jobs and contributes nearly C$13 billion to Canadian GDP.⁽²⁾

The European Green Deal is targeting a 20% reduction in fertilizer use by 2030, while also ensuring no deterioration in soil fertility, as part of the European Commission’s aim to reduce nutrient losses by at least 50% by 2030.⁽³⁾ Fertilizer reduction is a key element of the broader Green Deal target of a minimum 55% net reduction in greenhouse gas emissions by 2030.⁽⁴⁾

Weighing fertilizer reduction targets versus the need to increase farm production, farm profitability, economic growth and global food security points to sustainable Soil Amendment and Biofertility innovation and development as one potential key agriculture solution.

Source:
1) Statista, Fortune Business, Polaris Market Research.
2) https://fertilizercanada.ca/our-focus/stewardship/emissions-reduction-initiative/
3) https://agriculture.ec.europa.eu/system/files/2022-02/factsheet-farmtofork-comparison-table_en_0.pdf
4) https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal_en

——-

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol, soil amendment and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners — Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals. Concurrenly, with new formulations derived from food-grade mustard, the Compmany is pursuing the adoption and use of its technology in the soil amendment and biofertily markets. Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow’s patented liquid products could be applied through injection, standard drip or spray equipment, improving functionality and performance features. Now a platform technology, MustGrow and its global partners are pursuing applications in several different industries from preplant soil treatment and weed control, to postharvest disease control and food preservation, to soil amendment and biofertility. MustGrow has approximately 49.7 million basic common shares issued and outstanding and 55.6 million shares fully diluted. For further details, please visit www.mustgrow.ca.

ON BEHALF OF THE BOARD

“Corey Giasson”

Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “will”, “would”, “might”, “occur” or “be achieved”. Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: (i) the development and commercialization of MustGrow’s soil amendment, biofertility and biocontrol technologies; (ii) the expansion of MustGrow’s development work across the United States; (iii) commercial-scale adoption; (iv) the potential benefits and performance of TerraSante^TM; and (v) the global fertilizer market and sub-markets.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow’s partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2021 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.

V2X, Inc. (VVX) – Training Systems Acquisition IV

Posted on June 5, 2023June 5, 2023 by cpereira@noblefcm.com

Monday, June 05, 2023

For more than 70 years, Vectrus has provided critical mission support for our customers’ toughest operational challenges. As a high-performing organization with exceptional talent, deep domain knowledge, a history of long-term customer relationships, and groundbreaking technical expertise, we deliver innovative, mission-matched solutions for our military and government customers worldwide. Whether it’s base operations support, supply chain and logistics, IT mission support, engineering and digital integration, security, or maintenance, repair and overhaul, our customers count on us for on-target solutions that increase efficiency, reduce costs, improve readiness, and strengthen national security. Vectrus is headquartered in Colorado Springs, Colo., and includes about 8,100 employees spanning 205 locations in 28 countries. In 2021, Vectrus generated sales of $1.8 billion. For more information, visit the company’s website at www.vectrus.com or connect with Vectrus on Facebook, Twitter, and LinkedIn.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.

On the List. Last week, V2X was one of three dozen firms awarded a spot on the $32.5 billion Training Systems Acquisition IV ID/IQ contract to provide for the analysis, design, development, production, installation, integration, test, and sustainment for Air Force training systems encompassing complex aircrew, maintenance, and system-specific training systems in support of warfighter training at operating locations worldwide. Work will be performed in the contiguous U.S. and worldwide, and is expected to be completed by May 31, 2033.

More Opportunity. TSA IV is a significant upgrade over the $20.9 billion ceiling under TSA III, but, even more importantly, V2X can leverage the combined Vectrus/Vertex capabilities to bid on a wider range of task orders under the contract. According to V2X, the old Raytheon Technology and Training Solutions segment (purchased by Vertex in 2021) had a seat on TSA III but did not have any work.

Get the Full Report

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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.

SEC Charges Against Binance and Binance’s Sharp Response

Posted on June 5, 2023June 12, 2023 by phoffman@channelchek.com

Gary Gensler’s SEC Files 13 Charges Against Changpeng Zhao and His Company Binance

In a pair of press releases, one from the Securities and Exchange Commission, and the other from Binance, the world’s largest cryptocurrency exchange, there were charges, allegations and answers fired back and forth. The SEC named the founder and CEO of Binance, Changpeng Zhao as a defendant in the suit. Binance quickly shot back how disappointed Binance is that 13 complaints were filed against the company.

Allegations

The SEC press release indicates that they are suing Binance and founder Changpeng Zhao for misusing customers’ funds and for diverting funds to a trading entity that Zhao controlled called Sigma Chain. It further charges Sigma Chain for engaging in fraudulent trading that made Binance’s volume appear larger than it actually was.

Among the charges, Binance is also supposed to have concealed that it commingled billions of dollars in customer assets, sending them to a third-party, Merit Peak, which was owned by Zhao.

The SEC filed the case in federal court in the District of Columbia. Binance engaged in “blatant disregard of the federal securities laws and the investor and market protections these laws provide,” the regulator wrote in its court complaint.

Binance Response

Binance said in a written statement that it intends to defend its platform and denied allegations that user assets on the Binance.US platform were ever at risk. “All user assets on Binance and Binance affiliate platforms, including Binance.US, are safe and secure, and we will vigorously defend against any allegations to the contrary,” the company said. Binance.US also said it would defend itself against the litigation.

Binance alleges that because of their size, they are a target for the US regulator. The company expressed concerns through a press release that despite cooperating with the SEC, that a reasonable amount of time was not given on the most recent 26 different requests, and that they may have been intentionally burdensome. Binance said that despite its willingness to do whatever was necessary to address the US regulator’s concerns and take whatever reasonable steps they could, the SEC would not share any evidence it might have regarding its purported concerns, and the SEC rejected attempts at engagement, instead going straight to court. “It is now clear to us that the SEC’s goal here was never to protect investors, as the SEC has claimed—if that were indeed the case, the SEC would have thoughtfully engaged with us on the facts and in our efforts to demonstrate the safety and security of the Binance,” according to a company statement.

Channelchek will continue to follow and report on major news impacting this case and others of interest to the investment world. Various sources indicate that there does not appear to be any type of a run by customers from Binance, there are some reports that it is business as usual. Register here to receive our daily emails.

Paul Hoffman

Managing Editor, Channelchek

The Week Ahead – Debt Limit Clouds Lift

Posted on June 5, 2023June 5, 2023 by phoffman@channelchek.com

This Week Will Feature Few Economic Releases and a Focus on Next Weeks FOMC

The week ahead is quiet on the economic release front. And there won’t be any market moving Fed president addresses to keep the market on its toes; the Fed members are in a blackout period leading up to next week’s June 13-14 FOMC meeting.

The markets can also stop talking about whether the US will default on debt as the short end of the fixed-income market will have to adjust to a sudden but short-lived increase in US Treasury bills.

Monday 6/5

10:00 AM ET, Factory Orders are expected to have risen 0.8 percent in April versus March’s 0.9 percent rise. Durable Goods Orders for April, which have already been released and are one of two major components of this report, rose 1.1 percent on the month. Factory Orders are a leading indicator, it represents the dollar level of new orders for both durable and nondurable goods.
10:00 AM ET, The Institute for Supply Management Services (ISM Services) is expected to be relatively steady at 52 for May after a 51.9 print in April.

Tuesday 6/6

Nothing Scheduled

Wednesday 6/7

8:30 PM ET, International Trade in Goods and Services is expected to show a deficit of $75.4 billion for April for total goods and services trade which would compare with a $64.2 billion deficit in March. Advance data on the goods side of April’s report showed a very large $12.1 billion deepening in the deficit.
10:30 AM ET, The Energy Information Administration (EIA) will be providing its scheduled weekly information on petroleum inventories, whether produced in the US or abroad. The level of inventories helps determine prices for petroleum products.
3:00 PM ET, Consumer Credit is expected to have increased by $21.0 billion in April versus an increase of $26.5 billion in March. This report has surprised on the high side the last three months.

Thursday 6/8

8:30 AM ET, Jobless claims for the week ending June 3 are expected to have increased to 240,000 versus 232,000 in the prior week. This has been a very closely watched report as it is expected it has indicated the Fed has room to tighten further if other data remain too strong.
10:00 AM ET, Wholesale Inventories will be released as a second estimate before the final. The second estimate for April is expected to be a 0.2 percent decline, unchanged from the first estimate. Wholesale trade measures the dollar value of sales made and inventories held by merchant wholesalers. It is a component of business sales and inventories Corporate Profits are pulled from the national income and product accounts (NIPA) and are presented in different forms.

4:30 PM ET, The Federal Reserve’s Balance Sheet has attracted additional attention as it is a good indicator of whether it is following its quantitative tightening plan, and whether there has been a significant change in banks looking to the Fed, which may mean trouble in the sector. For the week ending June 7, the Federal Reserve is expected to hold assets worth $8.386 trillion. This would be a week-on-week decline of $50.4 billion. All non-cash assets can be viewed as money that at one time was injected into the economy as stimulation.

Friday 6/9

10:00 AM ET, The Quarterly Services Survey focuses on information and technology-related service industries. These include information; professional, scientific and technical services; administrative & support services; and waste management and remediation services. Services revenue is expected to have increased by 2.9%.

What Else

The key factors that the Fed will consider when making their decision next week at the FOMC meeting are the pace and trend of economic growth, the level of inflation, the strength of the labor market, and the risk of recession.

Additionally, the FOMC will have to determine if the moves to date will have a more substantial impact over time. Currently, inflation is not coming down, jobs are abundant relative to job seekers, and the risk of a recession over the next two quarters seems low. For these reasons, some believe the Fed will remain hawkish yet pause for this meeting. However, next week during the first day of the two-day meeting CPI (consumer inflation) will be released. It would be premature to forecast a Fed decision until the contents of that report are known.

Paul Hoffman

Managing Editor, Channelchek

More Proof There is Significant Value in Biotech Stocks

Posted on June 5, 2023June 5, 2023 by phoffman@channelchek.com

Another Sign Conditions are Improving for Biotech Stocks

Biotech stocks seem to be exhibiting unusual value for any stock segment. A subset of the healthcare sector, biotechnology includes companies researching, and developing what may be the next-generation medical preventatives and treatments. There had been a huge decline in interest in the segment that coincided with FDA approval of the first Covid19 vaccine in late Summer 2021. Since then, the average price has been more than cut in half (see XBI/IBB chart) for biotechs.

The chart below is the S&P SPDR Biotech ETF and iShares Biotech ETF. They represent 280 stocks. According to an article in Barron’s dated June 4, 2023, of these, 23 (almost 10%) are trading below enterprise value (EV). Many more are on the cusp of trading right at the value of their net assets. For example, the article mentioned Atea Pharmaceuticals (AVIR), a biotech developing antiviral therapeutics for Hep-C and Covid. “If you bought all Atea’s shares and paid off all of its debt, the cash and other liquid assets remaining on its balance sheet would be worth more than what you spent,” wrote Barron’s.

Of the 280 stocks, nearly 60 have enterprise values below $100 million – the current conditions are not sustainable. At some point, the “invisible hand” of the market is will work to correct it. Last week, Atea, which had been trading near $3.70 recently, was offered $5.75 per share. Concentra Biosciences, which is controlled by the investment fund Tang Capital Partners, made the offer with some contingencies tied to licenses or sales of Atea’s products.

The peculiar condition of the market valuing biotech companies below EV or even cash came to my attention at a RoadShow that was arranged by Noble Capital Markets that featured Cocrystal Pharma (COCP). Cocrystal has several products advancing toward clinical milestones. It was presented by a member of Cocrystals executive management team in South Florida. While the myself and the other investors became familiar with COCP’s development pipeline, and data like the rate of cash usage, the amount of cash on hand, and the market value, it became quite apparent the company had far more cash than the amount the stock market had priced the entire company. And at its cash burn rate (amount of cash used to cover expenses each month), that there might be a significant valuation disconnect.

Many believe disconnects like this will be resolved as the markets always are seeking value and seemingly mispriced companies. There are already many examples this in 2023 as big pharma either has partnered with, or outright acquired companies. This, of course, can cause the stock prices to skyrocket. In fact, while the news was focused on Silicon Valley Bank last March, Provention Bio (PRVB) shot up 258% after a deal was announced.

Smaller biotechs need money to spend on developing drugs, and can’t rely on product sales. Even with what might seem like a huge war-chest of cash, low market values have stifled the ability to raise new money. The road to the next wonder drug is long and requires management to take comfort that they can secure funds when needed.

The extent of this challenge is unique to each company. For many, since the biotech segment valuations came down from the pandemic-inspired dizzying heights, they might have cash, but not enough to go an extended period until funding conditions improve. The offer last week by Concentra is a sign that conditions are changing. It isn’t just pharmaceutical companies shopping now for biotech bargains to own, it seems investment partnerships are also recognizing the extreme value in some companies.

For data and current information on almost 250 biotech companies, visit the biotech industry section here, on Channelchek.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://www.barrons.com/articles/biotechs-negative-enterprise-values-5e289e8e?mod=Searchresults

43rd President of the United States, George W. Bush, will headline NobleCon19 at FAU this December. Alumni, this is your Opportunity to Attend.

Posted on June 4, 2023November 28, 2023 by cpatches

And President Bush is only one of the events at your Alma Mater! NobleCon19 will feature 100+ executive team presentations and breakouts, provocative panels and keynotes, world-class networking events, and the exclusive conversation with President George W. Bush, moderated by Noble’s Director of Research. By registering below, we will keep you updated on all the happenings at and around Noble Capital Markets’ 19^th Annual Emerging Growth Equity Conference – NobleCon19… for the first time hosted by Florida Atlantic University.

The objective of NobleCon19 is to build awareness for lesser-known companies that may shape the future of technology, medicine, manufacturing, retail, transportation, distribution, and natural resources. Most of the companies presenting will be public, thereby offering investment opportunities. Although institutional investors, licensed brokers and accredited investors will be in attendance, NobleCon19 is open to all individuals and organizations interested in learning more about these companies. And that, of course, includes you as an FAU Alumni!

Space is limited and demand is high. Noble is offering a special consideration for FAU Alumni to attend the entire conference and/or an exclusive invitation to attend the President George W. Bush fireside chat at little or no cost. To be considered for this extremely rare opportunity, and to receive NobleCon19 agenda updates, register below. All the companies that will attend NobleCon19 are featured on this site as well as thousands of other small-cap companies. Attendance is prioritized by the date you register. BTW Channelchek is an open-access secure site with no cost to join, and no pitches to purchase anything, ever.

NobleCon19 General Website

NobleCon19 Sponsors

Learn More: Seeking Alpha | Privaira | AON | The Money Channel

Release – V2X to Participate in the Stifel 2023 Cross Sector Insight Conference

Posted on June 2, 2023June 2, 2023 by aweinsoff@channelchek.com

Research News and Market Data on VVX

Company Release – 6/2/2023

MCLEAN, Va., June 1, 2023 /PRNewswire/ — V2X, Inc., (NYSE: VVX), a leading provider of critical mission solutions and support to defense clients globally, announced that company management will address the Stifel 2023 Cross Sector Insight Conference on Wednesday, June 7, at 3:00 p.m. Eastern time.

A live webcast of the briefing will be available at https://wsw.com/webcast/stifel80/vvx/1970300 and be available for replay for 30 days afterward.

ABOUT V2X
V2X builds smart solutions designed to integrate physical and digital infrastructure – from base to battlefield – by aligning people, actions, and outputs. Formed by the merger of Vectrus and Vertex, we bring a combined 120 years of successful mission support. Our lifecycle solutions improve security, streamline logistics, and enhance readiness.

The Company delivers a comprehensive suite of integrated solutions across the operations and logistics, aerospace, training, and technology markets to national security, defense, civilian and international clients. Our global team of approximately 15,000 employees brings innovation to every point in the mission lifecycle, from preparation to operations, to sustainment, as it tackles the most complex challenges with agility, grit, and dedication.

Contact Information

Investor Contact
Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations
IR@goV2X.com
719-637-5773

Media Contact
Angelica Spanos Deoudes
Senior Media Strategist
Communications@goV2X.com
571-338-5195

View original content to download multimedia:https://www.prnewswire.com/news-releases/v2x-to-participate-in-the-stifel-2023-cross-sector-insight-conference-301841260.html

SOURCE SOURCE V2X, Inc.

Release – InPlay Oil Corp. Confirms Monthly Dividend for May 2023

Posted on June 2, 2023June 2, 2023 by aweinsoff@channelchek.com

Research News and Market Data on IPOOF

01 Jun, 2023, 19:49 ET

CALGARY, AB, June 1, 2023 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to confirm that its Board of Directors has declared a monthly cash dividend of $0.015 per common share payable on June 30, 2023, to shareholders of record at the close of business on June 15, 2023. The monthly cash dividend is expected to be designated as an “eligible dividend” for Canadian federal and provincial income tax purposes.

About InPlay Oil Corp.

InPlay is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.

SOURCE InPlay Oil Corp.

For further information: Doug Bartole, President and Chief Executive Officer, InPlay Oil Corp., Telephone: (587) 955-0632, www.inplayoil.com; Darren Dittmer, Chief Financial Officer, InPlay Oil Corp., Telephone: (587) 955-0634

Garibaldi Resources Corp. (GGIFF) – Thoughts on the Upcoming Drill Program

Posted on June 2, 2023June 2, 2023 by cpereira@noblefcm.com

Friday, June 02, 2023

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Building on the 2022 program. In 2022, Garibaldi tested targets from the 2021 Geotech deep-penetrating Z-Axis Tipper Electromagnetic (ZTEM) survey at the company’s E&L nickel-copper-cobalt massive sulphide project. Two holes were successful, including a deep hole which intersected two intervals of E&L gabbro more than 200 meters down plunge from previous drilling and nickel-bearing disseminated and semi-massive sulphide mineralization. The two successful drill holes are lined with polyvinyl chloride (PVC) and Garibaldi intends to conduct a geophysical borehole electromagnetic (BHEM) survey to aid the 2023 drilling program. We will be interested in the outcomes from the BHEM survey, particularly if it reveals any conductors off-hole.

Upcoming drill program. Drilling in 2023 will test for mineralization associated with broad low-resistivity anomalies identified in the Geotech survey. While subject to change, the 2023 drill program will likely commence in early July and entail three to four holes at the E&L target, two holes of approximately 500 meters depth at the B1 target, and two holes at the Palm Springs property. Drilling at E&L will focus on areas within the ZTEM anomaly tested in 2022. We expect the drill program to conclude at the end of October.

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

NobleCon19 will Feature an Exclusive Conversation with President George W. Bush, Moderated Live by Noble Capital Markets’ Director of Research

Posted on June 2, 2023November 28, 2023 by cpatches

Noble Capital Markets (“Noble”) announced today that the 43^rd President of the United States and Founder of the George W. Bush Presidential Center will be featured at NobleCon19, Noble’s 19^th Annual Emerging Growth Conference to be held at Florida Atlantic University, College of Business, Executive Education, December 3-5, 2023, in Boca Raton, Florida. Noble’s Director of Research, Michael Kupinski will moderate the hour-long fireside chat with President Bush.

George W. Bush served as 43rd President of the United States of America from 2001 to 2009. As Commander in Chief, President Bush worked to expand freedom, opportunity, and security at home and abroad. His Administration reformed America’s education system, restored robust private-sector economic growth and job creation, protected our environment, and pursued a comprehensive strategy to keep America safe after the terrorist attacks on September 11, 2001.

In this more casual and personable format, President Bush will discuss his time in the Oval Office and the challenges facing our nation today.

In addition to admittance to the President Bush fireside chat, attendees of NobleCon19 will be exposed to 100+ executive teams from all across North America, through formal presentations, Q&A sessions, organized breakouts and selected one-on-one meeting. Topical panel presentations, to-be-announced keynotes and networking events, and “The After” first-day evening event featuring world-class entertainment rounds out the agenda.

The objective of NobleCon19 is to build awareness for emerging growth companies that may shape the future of technology, media, telecom, medicine, manufacturing, retail, transportation and distribution, and natural resources. Most of the companies presenting will be public, thereby offering investment opportunities. Although institutional investors, licensed brokers and accredited investors will be in attendance, NobleCon19 is open to all individuals and organizations interested in learning more about these companies.

To receive NobleCon agenda updates and registration opportunities, join Channelchek.com, Noble’s online investment community, listing more than 6,000 public emerging growth companies. This is an open-access site with no cost (ever) to join. Companies with market capitalization of $3 billion or less wishing to learn more about presenting at NobleCon19 can Inquire Here.

Please note: Some sessions of this conference are closed to the media with no personal recording, photography, or note-taking permitted.

About Noble Capital Markets

Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed emerging growth companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 39 years, Noble has raised billions of dollars for companies and published more than 45,000 equity research reports. www.noblecapitalmarkets.com contact@noblecapitalmarkets.com

About Florida Atlantic University

Florida Atlantic University, established in 1961, officially opened its doors in 1964 as the fifth public university in Florida. Today, the University serves more than 30,000 undergraduate and graduate students across six campuses located along the southeast Florida coast. In recent years, the University has doubled its research expenditures and outpaced its peers in student achievement rates. Through the coexistence of access and excellence, FAU embodies an innovative model where traditional achievement gaps vanish. FAU is designated a Hispanic-serving institution, ranked as a top public university by U.S. News & World Report and a High Research Activity institution by the Carnegie Foundation for the Advancement of Teaching. For more information, visit www.fau.edu.

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How to Keep AI on the Right Path

Posted on June 2, 2023June 2, 2023 by phoffman@channelchek.com

How Can Congress Regulate AI? Erect Guardrails, Ensure Accountability and Address Monopolistic Power

OpenAI CEO Sam Altman urged lawmakers to consider regulating AI during his Senate testimony on May 16, 2023. That recommendation raises the question of what comes next for Congress. The solutions Altman proposed – creating an AI regulatory agency and requiring licensing for companies – are interesting. But what the other experts on the same panel suggested is at least as important: requiring transparency on training data and establishing clear frameworks for AI-related risks.

Another point left unsaid was that, given the economics of building large-scale AI models, the industry may be witnessing the emergence of a new type of tech monopoly.

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of Anjana Susarla, Professor of Information Systems, Michigan State University.

As a researcher who studies social media and artificial intelligence, I believe that Altman’s suggestions have highlighted important issues but don’t provide answers in and of themselves. Regulation would be helpful, but in what form? Licensing also makes sense, but for whom? And any effort to regulate the AI industry will need to account for the companies’ economic power and political sway.

An Agency to Regulate AI?

Lawmakers and policymakers across the world have already begun to address some of the issues raised in Altman’s testimony. The European Union’s AI Act is based on a risk model that assigns AI applications to three categories of risk: unacceptable, high risk, and low or minimal risk. This categorization recognizes that tools for social scoring by governments and automated tools for hiring pose different risks than those from the use of AI in spam filters, for example.

The U.S. National Institute of Standards and Technology likewise has an AI risk management framework that was created with extensive input from multiple stakeholders, including the U.S. Chamber of Commerce and the Federation of American Scientists, as well as other business and professional associations, technology companies and think tanks.

Federal agencies such as the Equal Employment Opportunity Commission and the Federal Trade Commission have already issued guidelines on some of the risks inherent in AI. The Consumer Product Safety Commission and other agencies have a role to play as well.

Rather than create a new agency that runs the risk of becoming compromised by the technology industry it’s meant to regulate, Congress can support private and public adoption of the NIST risk management framework and pass bills such as the Algorithmic Accountability Act. That would have the effect of imposing accountability, much as the Sarbanes-Oxley Act and other regulations transformed reporting requirements for companies. Congress can also adopt comprehensive laws around data privacy.

Regulating AI should involve collaboration among academia, industry, policy experts and international agencies. Experts have likened this approach to international organizations such as the European Organization for Nuclear Research, known as CERN, and the Intergovernmental Panel on Climate Change. The internet has been managed by nongovernmental bodies involving nonprofits, civil society, industry and policymakers, such as the Internet Corporation for Assigned Names and Numbers and the World Telecommunication Standardization Assembly. Those examples provide models for industry and policymakers today.

Licensing Auditors, Not Companies

Though OpenAI’s Altman suggested that companies could be licensed to release artificial intelligence technologies to the public, he clarified that he was referring to artificial general intelligence, meaning potential future AI systems with humanlike intelligence that could pose a threat to humanity. That would be akin to companies being licensed to handle other potentially dangerous technologies, like nuclear power. But licensing could have a role to play well before such a futuristic scenario comes to pass.

Algorithmic auditing would require credentialing, standards of practice and extensive training. Requiring accountability is not just a matter of licensing individuals but also requires companywide standards and practices.

Experts on AI fairness contend that issues of bias and fairness in AI cannot be addressed by technical methods alone but require more comprehensive risk mitigation practices such as adopting institutional review boards for AI. Institutional review boards in the medical field help uphold individual rights, for example.

Academic bodies and professional societies have likewise adopted standards for responsible use of AI, whether it is authorship standards for AI-generated text or standards for patient-mediated data sharing in medicine.

Strengthening existing statutes on consumer safety, privacy and protection while introducing norms of algorithmic accountability would help demystify complex AI systems. It’s also important to recognize that greater data accountability and transparency may impose new restrictions on organizations.

Scholars of data privacy and AI ethics have called for “technological due process” and frameworks to recognize harms of predictive processes. The widespread use of AI-enabled decision-making in such fields as employment, insurance and health care calls for licensing and audit requirements to ensure procedural fairness and privacy safeguards.

Requiring such accountability provisions, though, demands a robust debate among AI developers, policymakers and those who are affected by broad deployment of AI. In the absence of strong algorithmic accountability practices, the danger is narrow audits that promote the appearance of compliance.

AI Monopolies?

What was also missing in Altman’s testimony is the extent of investment required to train large-scale AI models, whether it is GPT-4, which is one of the foundations of ChatGPT, or text-to-image generator Stable Diffusion. Only a handful of companies, such as Google, Meta, Amazon and Microsoft, are responsible for developing the world’s largest language models.

Given the lack of transparency in the training data used by these companies, AI ethics experts Timnit Gebru, Emily Bender and others have warned that large-scale adoption of such technologies without corresponding oversight risks amplifying machine bias at a societal scale.

It is also important to acknowledge that the training data for tools such as ChatGPT includes the intellectual labor of a host of people such as Wikipedia contributors, bloggers and authors of digitized books. The economic benefits from these tools, however, accrue only to the technology corporations.

Proving technology firms’ monopoly power can be difficult, as the Department of Justice’s antitrust case against Microsoft demonstrated. I believe that the most feasible regulatory options for Congress to address potential algorithmic harms from AI may be to strengthen disclosure requirements for AI firms and users of AI alike, to urge comprehensive adoption of AI risk assessment frameworks, and to require processes that safeguard individual data rights and privacy.

Stocks 101: The Basics of Investing in the Stock Market

Posted on June 2, 2023June 5, 2023 by phoffman@channelchek.com

Need-to-Know for Those Starting to Dip Their Dough into the Stock Market

Maybe you’ve saved a little and know you ought to invest, or maybe school is finally out and you have time and a few dollars to build your future, but you don’t think you know enough about the world of stock market investing. It’s easy to feel overwhelmed by the abundance of information? It’s a big decision with many mysteries and unknowns for both newcomers, and veterans. This article aims to remove much of the mystery for new investors so you can be more confident in building a portfolio that can enhance your life plans.

Whether you become interested in small-cap stocks, growth stocks, or even IPOs, understanding key concepts such as valuing a stock, risk tolerance, investment goals, investment style, risk management, and portfolio strategy is crucial. Let’s dive in!

Set Investment Goals

Clearly defining your investment goals is essential so you can make decisions after comparing them to those goals. Are you investing for retirement, saving for a down payment on a house, or aiming for short-term gains? Your goals will influence the investment strategies you use. For example, if you’re investing for retirement and have decades of working years left, it may mean to buy and mostly hold for a long period stocks that have more potential given a long time horizon. This wouldn’t totally exclude mature companies with large market capitalizations but may include far more small and microcap opportunities than someone that is just a few years from retirement. If you are closer to retirement and don’t have as long for the growth to play out, the strategy may be to invest in large companies with stable dividends. If they throw off enough income, then an allocation of more speculative growth opportunities may make sense. This portfolio portion can allow for further growth.

Define Your Risk Tolerance

Before swimming in the deep end of investing, it’s important to assess your risk tolerance. Ask yourself how comfortable you are with potential fluctuations in stock prices. Small-cap stocks and microcaps, which represent companies with smaller market value, often offer greater growth potential, but they also come with increased volatility. Growth stocks, however, are known for their potential high returns over time, of course this could come with the cost of more volatility (sharp price moves) than established “blue-chip” stocks. Knowing your risk tolerance, or uneasiness with losing, or riding out drawdowns, versus gaining more than the potential loss (risk/reward tolerance) will help you make investment decisions aligned with your comfort level.

Determine Your Investment Style

After assessing your risk tolerance and setting goals, determine your investment style. Some investors prefer a more hands-on approach, engaging in frequent trading and closely monitoring stock market trends and evaluating stocks through websites like Channelchek. Others may prefer a more passive approach, investing in broad-based index funds or exchange-traded funds (ETFs) that provide diversification across various stocks. Understanding your investment style will help shape your overall investment strategy.

Minimizing Risk

Investing inherently involves risk, but there are strategies to help minimize potential losses. One approach is to conduct thorough research on companies you’re considering for investment. This includes analyzing company-sponsored research, equity research reports, and equity analysis provided by reputable sources. Understanding the financial health, competitive advantages, and growth prospects of a company can help you make informed investment decisions.

Developing an Investment Portfolio Strategy

Diversification is considered key when it comes to building an investment portfolio. Investing in a variety of stocks across different sectors and market capitalizations, including small-cap stocks and growth stocks, can help spread risk and potentially increase returns. Consider allocating a portion of your portfolio to IPOs if you have a higher risk appetite. However, it’s important to exercise caution as IPOs can be volatile shortly after their public debut.

Stay Informed

Keeping up with investment news is vital for any investor. Stay updated on market trends, company announcements, and economic indicators that may impact the stock market. Many financial news outlets provide lists of “stocks to watch” or provide insights into market trends. Regularly reviewing investment news and equity research can help you stay informed, make timely investment decisions, and expose you to opportunities you may not have discovered otherwise.

Take Away

Knowing it is time to start building an investment portfolio is a good first step. Now may be the when you should implement, especially if you have a long road ahead of you and financial security is important. It will require careful consideration of your risk tolerance, investment goals, investment style, risk management techniques, and portfolio strategy. Be prepared to conduct research, analyze equity reports, and stay informed about market developments. Investing is ordinarily long-term, patience, discipline, and a well-structured portfolio are key to achieving your financial objectives.

Paul Hoffman

Managing Editor, Channelchek