May 2024 - Channelchek

Release – Conduent Recognized as a Leader in 2024 NelsonHall Report on Multi-Process HR Transformation Services

Posted on May 31, 2024May 31, 2024 by aweinsoff@channelchek.com

MAY 31, 2024

FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-led business solutions and services company, today announced that NelsonHall, a global analyst firm, has named the company a market leader in the 2024 NelsonHall Evaluation and Assessment Tool (NEAT) for Multi-Process HR Transformation Services for Large Enterprises. This year’s NelsonHall NEAT evaluates participants across a range of criteria and business situations in specific areas of capability, company focus, and geographic coverage.

“Conduent has proven capabilities and well-established HR operational expertise in the Large Enterprise market segment, where 80% of its business supports organizations with over 15,000 employees,” said Liz Rennie, HR Technology and Services Research Director at NelsonHall. “It delivers digital transformations with AI, automation, optimization, engagement, and accuracy, and brings ongoing operational refinements in areas such as employee experience and omni-channel digital solutions. Conduent’s partnership approach and delivery expertise are well-suited to supporting the transformation of complex and large organizations.”

For Large Enterprise Focus, this year’s NEAT report recognizes Conduent for:

The breadth of its Human Capital Solutions, including HR administration, global payroll data management services, benefits administration, and learning services;
Ability to drive global processes and support products such as HRO-in-a-Box, with more than 120 globally configurable and digitally enabled processes spanning the HR lifecycle (from recruitment to retirement);
Investment in front-end proprietary technology with a design approach that uses personas to drive personalization. Proprietary applications include Life@Work Connect, chat automation and real-time dashboards with program analytics and service levels;
Capability to serve clients on leading Cloud HCM platforms, including Oracle Cloud, SAP SuccessFactors, and Workday; and
CX approach to employee experience supported by an employee-centric delivery model.

“As NelsonHall noted, Conduent remains committed to providing our HR clients with solutions that are grounded in leading digital HR technology so that HR functions can perform better, while also increasing employee engagement and satisfaction,” said Jeff Weiner, Vice President and General Manager of Human Capital Solutions at Conduent. “NelsonHall’s recognition is a great affirmation that the work and investments we are putting into our offerings and delivering to our clients is positively impacting the employee’s experience and is a differentiator when HR teams need to select a partner.”

NelsonHall defines leaders as providers that exhibit a high capability relative to their peers to deliver both immediate benefit and future client requirements. In addition to Large Enterprise Focus, Conduent was also a “Leader” in Overall, Efficiency Focus, Europe Focus, Multi-Country Focus and North America Focus in this year’s NelsonHall NEAT Report. Earlier this year NelsonHall named Conduent a leader in HR Benefits Administration.

To read the custom report of Conduent’s evaluation in the 2024 NelsonHall NEAT Report, visit https://insights.conduent.com/reports/mphr-transformation-neat-report.

About NelsonHall

NelsonHall is the leading global analyst firm dedicated to helping organizations understand the ‘art of the possible’ in digital operations transformation. With analysts in the U.S., U.K., Continental Europe, and Asia, NelsonHall provides buy-side organizations with detailed, critical information on markets and vendors (including NEAT assessments) that helps them make fast and highly informed sourcing decisions. And for vendors, NelsonHall provides deep knowledge of market dynamics and user requirements to help them hone their go-to-market strategies. NelsonHall’s analysis is based on rigorous, all-original research, and is widely respected for the quality and depth of its insight.

About Conduent

Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 59,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $100 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.

Media Contacts

LISA PATTERSON

Conduent

lisa.patterson@conduent.com

+1-816-305-4421

GILES GOODBURN

Conduent

ir@conduent.com

+1-203-216-3546

Release – Data And Safety Monitoring Board Approves Simultaneous Enrollment In Cohort 3 And Phase 2 Initiation In OCU410 ArMaDa Study For Geographic Atrophy

Posted on May 31, 2024May 31, 2024 by aweinsoff@channelchek.com

Research News and Market Data on OCGN

May 31, 2024

Established Medium Dose as Safe and Tolerable Dose in Current OCU410 Clinical Trial
DSMB Recommends Continuing with High-Dose Cohort Dosing with Concurrent Phase 2 Dosing

MALVERN, Pa., May 31, 2024 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced a positive outcome of the Data and Safety Monitoring Board (DSMB) Review for its Phase 1/2 ArMaDa clinical trial for OCU410 (AAV5-hRORA)—a modifier gene therapy candidate being developed for geographic atrophy (GA), an advanced stage of dry age-related macular degeneration (dAMD). GA affects approximately 2-3 million people in the U.S. and Europe combined.

Six subjects with GA were dosed in the Phase 1/2 clinical trial to date—three subjects were dosed with the low dose and three subjects were dosed with the medium dose. An additional three patients will be dosed with the high dose of OCU410 in the dose-escalation phase.

“The DSMB has recommended to proceed with dosing subsequent GA subjects with the high dose of OCU410 in the dose-expansion phase of the study and concurrently initiate Phase 2 dosing,” said Dr. Peter Chang, MD, FACS, DSMB Chair for the OCU410 clinical trial. “No serious adverse events (SAEs) related to OCU410 have been reported to date in both low- and medium-dose cohorts. I believe that this marks a critical next step towards determining the maximum tolerated dose for OCU410 and is an important milestone for its clinical development.”

“We are delighted to report a second positive DSMB recommendation for the treatment of GA, which significantly builds on the favorable safety and tolerability profile exhibited by OCU410,” said Huma Qamar, MD, MPH, CMI, Chief Medical Officer of Ocugen. “We are very enthusiastic about the potential of OCU410 as a potential one-time treatment for GA with a single sub-retinal injection. The currently approved treatments for GA target only the complement pathway and require approximately 6-12 intravitreal injections annually. OCU410 addresses multiple pathways causing dAMD, including complement, lipid metabolism, inflammation, and oxidative stress, providing long-term benefit to patients.”

The ArMaDa clinical trial will assess the safety and efficacy of unilateral subretinal administration of OCU410 in subjects with GA and will be conducted in two phases. Phase 1 is a multicenter, open-label, dose-ranging study consisting of three dose levels [low dose (2.5×10¹⁰ vg/mL), medium dose (5×10¹⁰ vg/mL), and high dose (1.5 ×10¹¹ vg/mL)]. Phase 2 is a randomized, outcome accessor-blinded, dose-expansion study in which subjects will be randomized in a 1:1:1 ratio to either one of two OCU410 treatment groups or to an untreated control group.

About dAMD and GA
dAMD affects approximately 10 million Americans and more than 266 million people worldwide. It is characterized by the thinning of the macula. The macula is the part of the retina responsible for clear vision in one’s direct line of sight. dAMD involves the slow deterioration of the retina with submacular drusen (small white or yellow dots on the retina), atrophy, loss of macular function and central vision impairment. dAMD accounts for 85-90% of the total AMD population.

About OCU410
OCU410 utilizes an AAV delivery platform for the retinal delivery of the RORA (ROR Related Orphan Receptor A) gene. The RORA protein plays an important role in lipid metabolism, reducing lipofuscin deposits and oxidative stress, and demonstrates an anti-inflammatory role as well as inhibiting the complement system in in-vitro and in-vivo (animal model) studies. These results demonstrate the ability for OCU410 to target multiple pathways linked with dAMD pathophysiology. Ocugen is developing AAV-RORA as a one-time gene therapy for the treatment of GA.

About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies 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 X 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, including, but not limited to, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, 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, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing of may not be predictive of the results or success of later clinical trials; and that that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. 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 Communications
Tiffany.Hamilton@ocugen.com

Virtual Therapeutics Levels Up in Digital Mental Health With $276M Akili Deal

Posted on May 31, 2024May 31, 2024 by slightbourne@noblecapitalmarkets.com

One of the pioneering players in applying video game technology to treating mental health conditions is going all-in on its digital therapeutic ambitions. Virtual Therapeutics announced Monday it has struck a deal to acquire Akili, Inc. in an all-cash transaction valuing the digital therapeutics firm at $276 million.

The acquisition marks a bold consolidation move as Virtual Therapeutics aims to establish itself as a diversified leader in the rapidly evolving digital health landscape. Akili shareholders will receive $0.4340 per share under the terms of the agreement, representing an 85% premium to the stock’s closing price in late April before a strategic review was announced.

Virtual Therapeutics has built a portfolio of virtual reality and immersive game experiences explicitly designed to provide mental health and cognitive fitness solutions. By adding Akili’s clinically-validated mobile software products to its platform, the combined company can offer a multi-modal suite of digital therapeutic offerings across multiple therapeutic areas.

For Akili investors, the all-cash bid comes as a welcome event after a turbulent stretch for the newly-public company. Shares had plunged over 80% from their 2022 IPO price amid slower-than-expected uptake for its flagship ADHD treatment. The $276 million deal price provides Akili shareholders with a rare exit opportunity in the cash-burning digital health space.

Founded in 2011, Boston-based Akili pioneered a new category of medicine it calls “digital therapeutics” – video game-like software programs prescribed by doctors that are clinically validated to treat medical conditions directly through cognitive engagement and video inputs. Its lead product, EndeavorRx, was cleared by the FDA in 2020 as a treatment for children with ADHD.

Take a moment to discover more emerging growth biotechnology companies by taking a look at Noble Capital Markets’ Research Analyst Robert LeBoyer’s coverage list.

Virtual Therapeutics has been taking a different tack, creating visually-rich, immersive game worlds as mental health interventions for conditions like depression, anxiety, PTSD and cognitive decline. The two approaches could prove complementary, with Akili’s mobile experiences providing one delivery mechanism and Virtual Therapeutics’ VR worlds offering an alternative modality.

Combining platforms may allow the merged company to deliver a truly multi-channel digital therapeutic offering spanning mobile, console and virtual reality environments. Cost synergies from eliminating redundancies in technology, R&D and sales infrastructure could also drive improved profitability over time.

For Virtual Therapeutics CEO and co-founder Dan Elenbaas, the Akili merger represents a major milestone in his mission to “bring behavioral health services to as many patients as possible” through engaging, accessible digital experiences. With clinical validation and regulatory clearance already in hand for Akili’s products, the road to scaling distribution and driving adoption may become clearer.

Weighing the deal’s benefits, BTIG analyst Mark Westbrook called the transaction “highly complementary” and stated it positions Virtual Therapeutics as a “clear leader” in delivering validated digital mental health solutions through novel experiential mediums like gaming.

While the digital therapeutics space is still in its infancy, the Virtual Therapeutics-Akili merger creates a formidable platform anchored by real-world clinical data and evidence. Akili gets taken private at a meaningful premium, while Virtual Therapeutics absorbs validated products to accelerate growth in its core mission of delivering modern, scalable solutions to the mental health crisis.

For healthcare investors seeking new frontiers, the combined digital mental health company resulting from this deal could be an enticing way to capitalize on gaming technology being repurposed for medical applications. Virtual reality video games may be just what the doctor ordered.

Tonix Pharmaceuticals (TNXP) – Tonmya Presentations From Previous and Upcoming Trials

Posted on May 31, 2024May 31, 2024 by cpereira@noblefcm.com

Friday, May 31, 2024

Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is composed of immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. Tonix’s immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-15001 which is a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 is expected to be initiated in the second half of 2022. Tonix’s rare disease portfolio includes TNX-29002 for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the FDA. Tonix’s infectious disease pipeline includes a vaccine in development to prevent smallpox and monkeypox called TNX-8013, next-generation vaccines to prevent COVID-19, and an antiviral to treat COVID-19. Tonix’s lead vaccine candidates for COVID-19 are TNX-1840 and TNX-18504, which are live virus vaccines based on Tonix’s recombinant pox vaccine (RPV) platform. TNX-35005 (sangivamycin, i.v. solution) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-IND stage of development. TNX-102 SL6, (cyclobenzaprine HCl sublingual tablets), is a small molecule drug being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix expects to initiate a Phase 2 study in Long COVID in the second quarter of 2022. The Company’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL, is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022. Finally, TNX-13007 is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the second quarter of 2022. TNX-1300 has been granted Breakthrough Therapy Designation by the FDA.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

Presentations On Long COVID Trial, Upcoming PTSD Trial. Tonix presented data from its Phase 2 PREVAIL trial testing Tonmya, previously TNX 102 SL, at the American Society of Clinical Psychopharmacology (ASCP) Annual Meeting. The data showed improvement in symptoms that we believe support findings from Phase 3 trials in fibromyalgia. A poster presentation detailed design of an upcoming study in Acute Stress disorders after automobile accidents, expected to begin in 2Q24.

PREVIAL Data Showing Improvement In Symptoms. The study was designed as a proof-of-concept in Long COVID. Although the primary endpoint of multi-site pain reduction after 14 weeks was not met, the treatment group showed measures of effect size that met prespecified criteria for further evaluation. The study showed improvements in fatigue, sleep quality, cognition function, disability, and Patient Global Impression of Change. We believe these measures are consistent with effects seen in the Phase 3 RELIEF and RESILIENT trials.

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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).

MustGrow Biologics Corp. (MGROF) – Waiting for the Revenue to Come

Posted on May 31, 2024May 31, 2024 by cpereira@noblefcm.com

Friday, May 31, 2024

Joe Gomes, CFA, 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.

First Quarter Results. MustGrow reported zero revenue in the quarter and a net loss of CAD$1.0 million or a loss of $0.02 per share. We estimated revenue of CAD$1,000 and a net loss of CAD$1.2 million or a loss of $0.02 per share. We expect similar revenue performance until the fourth quarter of the 2024 fiscal year when TerraSante sales are expected to begin.

Cash Flow/Capital Use. MustGrow had cash used in operating activities of CAD$931,372, similar to last year at CAD$912,387. The Company had cash and cash equivalents of CAD$5.9 million as of March 31, 2024. Barring any revenue generation, we estimate an approximate 18-month runway before needing new capital.

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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.

Hemisphere Energy (HMENF) – Steady quarter sets the company up for future growth

Posted on May 31, 2024May 31, 2024 by cpereira@noblefcm.com

Friday, May 31, 2024

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

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

Hemisphere Energy reported production results, pricing, and costs in line with expectations. The company remains on track to meet or beat management guidance. With production and oil prices rising, we expect cash flow and earnings to improve in upcoming quarters.

The company is actively drilling, including in a new area. Hemisphere drilled five wells during the quarter which should lead to production growth. Current production has already reached peak levels. The recently acquired property Marsden play represents a step out of current production and could be an important area for future growth.

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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).

Bit Digital (BTBT) – Riot Platforms Goes Public With Bitfarms Offer

Posted on May 31, 2024May 31, 2024 by cpereira@noblefcm.com

Friday, May 31, 2024

Joe Gomes, CFA, 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.

Riot’s Offer. Riot Platforms went public with a proposal to acquire all of the outstanding shares of Bitfarms Ltd. The initial April 22nd private proposal was rejected by Bitfarms’ Special Committee of the Board. Riot Platforms also announced that it accumulated a 10% stake in the Company and is now its largest shareholder. With the stake, Riot intends to requisition a Special Meeting of Bitfarms’ shareholders to add new directors to Bitfarm’s Board following its Annual General and Special Meeting on May 31, 2024.

Proposal Details. The offer from Riot is for $2.30 per share, an approximately 20% premium to Bitfarms’ closing price of $1.92 as of April 19, 2024, the day before Riot’s private proposal. The proposal results in a total equity value of $950 million.

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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).

Tech Sell-Off Hits Broader Stock Market

Posted on May 31, 2024May 31, 2024 by slightbourne@noblecapitalmarkets.com

After a torrid five-week run higher, Wall Street took its foot off the gas this week as investors moved to book some profits. The S&P 500 dropped 1.8% over the last five sessions, ending an impressive stretch that saw the broad index rally over 6% since late April.

At the core of this week’s pullback was a cooldown in red-hot technology stocks benefiting from the artificial intelligence frenzy. Semiconductor giant Nvidia, whose blowout earnings last week turbocharged the AI trade, shed over 9% this week as traders moved to cash in some of those monster gains.

Other mega cap tech leaders like Microsoft, Amazon, and Alphabet also gave back ground, contributing to a 2.4% weekly slide for the Nasdaq Composite. With Big Tech serving as a weight on the market’s shoulders, the venerable Dow Jones Industrial Average wasn’t spared either – the blue-chip index dropped over 2% itself.

The downshift marked an overdue pause that refreshed for the often overly-exuberant market. After storming nearly 15% off the lows over the previous seven weeks, a little air had to come out of the balloon, even with economic data continuing to hold up.

On the economic front, the core Personal Consumption Expenditures (PCE) reading rose 2.8% year-over-year in April, slightly exceeding estimates. While inflation remains stubbornly high, the lack of a major upside surprise helped soothe fears of the Fed needing to pivot towards an even more aggressive policy stance.

The underlying commodity and service costs feeding into the PCE suggest inflation could start to moderate in the second half of 2023. That aligns with current Fed forecasts projecting two more 25 basis point rate hikes before calling it quits on this tightening cycle.

Assuming the Fed can stick the landing without snuffing out economic growth, conditions could remain conducive for further equity upside. History shows the S&P 500 tends to bottom around six months before the end of a tightening cycle – and rally sharply in the following 12 months.

This week’s dip may have seemed like an ominous turn, but it really just returned the major indexes back in line with the performance of other segments of the market. The Russell 2000 small-cap index and Russell 3000 representing the entire U.S. equity market have been lagging the S&P 500’s advance.

Over the past month, the Russell 3000 is up a more modest 2.8% versus a 5.2% gain for the big-cap dominated S&P 500. Small-caps as represented by the Russell 2000 have fared even worse with a 1.4% advance over that span.

Analysts pointed out small-caps have struggled to sustain upside momentum. Despite bouncing back from October’s lows, the Russell 2000 is still down 6% year-to-date versus a 10% rise for the large-cap Russell 1000.

Higher financing costs, softer economic growth prospects, and the fading benefits of 2022’s rally could continue to weigh on smaller stocks in the second half.

If large-cap tech remains under pressure, it could help narrow the performance gap – with the Russell mega-caps ceding some of their market-leading gains. But for now, most of Wall Street appears comfortable viewing this week’s pullback as simply clearing the way for the next move higher.

After all, some long-overdue profit-taking and consolidation can ultimately be healthy, helping reset overbought conditions and set the stage for sustained upside.

Salesforce Sell-Off Shakes Tech, AI Sectors But Could Spell Opportunity

Posted on May 31, 2024May 31, 2024 by slightbourne@noblecapitalmarkets.com

Salesforce’s shocking earnings miss and subsequent stock plunge sent shockwaves through the technology and artificial intelligence spaces on Thursday. But some investors see the dramatic selloff as a potential chance to buy into the AI growth story on the dip.

Shares of the cloud software giant cratered over 20% in early trading, putting the stock on pace for its worst single-day decline since going public nearly two decades ago. The plunge came after Salesforce reported its first top-line miss since 2006 and provided disappointing guidance, surprising Wall Street and raising concerns about cracks in business spending.

The selloff rapidly spread across the tech sector, with the Nasdaq tumbling over 2% as investors fled growth stocks. AI industry leaders were among the biggest drags on the index amid fears Salesforce’s shortfall could indicate broader economic turbulence.

While the numbers were clearly disappointing, some analysts remain steadfastly optimistic that Salesforce’s fortunes will turn as artificial intelligence proliferates. With $13.5 billion in cash and a portfolio of AI capabilities from its acquisition of startup Anthropic, contrarians are betting the company is well-positioned to monetize generative AI technologies over the long haul.

For small cap and retail traders, Salesforce’s dramatic share price compression could open an attractive entry point. The stock’s forward P/E has plunged below 20, near multi-year lows despite its exposure to the “game-changing AI theme.” With a market cap around $178 billion as of Thursday, some view Salesforce as a relative bargain in the potential AI winners circle.

AI economies of scale could help Salesforce flex its tech muscles again before too long. One firm expects the company to increasingly leverage AI not just for products, but also for improving productivity and driving revenue engine automation. Cost streamlining aided by AI could lift operating margins towards the company’s target over time.

For traders and institutions alike, the frenzied selling appears to be creating an intriguing disconnect between Salesforce’s current valuation and what bulls perceive as enviable AI exposure compared to pricier megacap tech names. If dark economic clouds do part, the recent plunge could mark an opportunistic entry point.

Volatility around AI innovators is likely to remain elevated as the marketplace continues rapidly evolving. However, Salesforce’s cloud presence, entrenched client base, and multi-billion AI investments suggest it’s far too early to throw in the towel on this pioneering tech trailblazer.

Release – Hemisphere Energy Announces Results from Annual General and Special Meeting of Shareholders

Posted on May 30, 2024May 30, 2024 by aweinsoff@channelchek.com

Research News and Market Data on HMENF

May 30, 2024 2:35 PM EDT

Vancouver, British Columbia–(Newsfile Corp. – May 30, 2024) – Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (“Hemisphere” or the “Company”) announces the results of its Annual General and Special Meeting of Shareholders that was held today.

Annual General and Special Meeting of Shareholders (“AGSM”)

A total of 46,475,140 common shares were voted, representing 47.45% of total shares issued and outstanding as at the April 11, 2024 record date of the AGSM.

Shareholders voted in favour of all items put forward by the Company’s Board of Directors and management, including:

Fixed the number of directors of the Company at six (6);
Elected the following directors of the Company for the ensuing year: Charles O’Sullivan, Don Simmons, Frank Borowicz, Bruce McIntyre, Gregg Vernon, and Richard Wyman;
Appointed KPMG LLP as auditors of the Company for the ensuing year at a remuneration to be fixed by the Board of Directors; and
Passed an ordinary resolution approving the renewal of the Company’s Stock Option Plan.

About Hemisphere Energy Corporation

Hemisphere is a dividend-paying Canadian oil company focused on maximizing value per share growth with the sustainable development of its high netback, low decline conventional heavy oil assets through polymer flood enhanced recovery methods. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol “HME” and on the OTCQX Venture Marketplace under the symbol “HMENF”.

For further information, please visit the Company’s website at www.hemisphereenergy.ca to view its corporate presentation or contact:

Don Simmons, President & Chief Executive Officer
Telephone: (604) 685-9255
Email: info@hemisphereenergy.ca

Website: www.hemisphereenergy.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Hemisphere Energy Corporation

Release – Conduent Named to Newsweek’s Top 100 Global Most Loved Workplaces for 2024

Posted on May 30, 2024May 30, 2024 by aweinsoff@channelchek.com

Research News and Market Data on CNDT

MAY 30, 2024

Inclusion on Newsweek’s Top 100 Global Most Loved Workplaces list for second straight year reflects commitment to a strong culture

Conduent Incorporated (Nasdaq: CNDT), a global technology-led business solutions and services company, today announced being named a Newsweek’s Top 100 Global Most Loved Workplaces® for 2024.

The recognition is Conduent’s second consecutive appearance on Newsweek’s Top 100 Global Most Loved Workplaces®. The ranking is produced through collaboration with the research and analysis of Best Practice Institute (BPI), a leadership development and benchmark research company.

“Being included once again on Newsweek’s Top 100 Global Most Loved Workplaces is a reflection of our commitment to creating a workplace where our associates can be themselves, grow and gain skills and make a positive difference,” said Cliff Skelton, Conduent President and Chief Executive Officer. “This achievement is especially meaningful because it is based on how our associates feel about Conduent. The analysis also aligns with Conduent’s core values of teamwork, communication and inclusion as we deliver valuable outcomes for our clients.”

“As workplaces continue to shift, it’s clearer than ever that fostering collaboration, embracing a positive outlook, and aligning values are essential. The companies celebrated on the 2024 Global Most Loved Workplaces® list truly embody these principles. They show us that by championing respect and team-oriented outcomes, they’re not just building great workplaces, they’re shaping a brighter future for all,” said Nancy Cooper, Global Editor in Chief of Newsweek.

The results were determined after surveying more than 2 million employees from businesses with workforces varying in size from 30 to more than 10,000. The list recognizes companies that put respect, caring, and appreciation for their employees at the center of their business model and, in doing so, have earned the loyalty and respect of the people who work for them.

For the full Newsweek list of 2024’s Top 100 Global Most Loved Workplaces®, visit https://www.newsweek.com/rankings/global-most-loved-workplaces-2024.

Being named to Newsweek’s Top 100 Global Most Loved Workplaces® for 2024 is the third consecutive year earning a Newsweek Most Loved ranking for Conduent.

About Conduent

Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.

Media Contacts

SEAN COLLINS

Conduent

Sean.Collins2@conduent.com

+1-310-497-9205

GILES GOODBURN

Conduent

ir@conduent.com

+1-203-216-3546

Release – Tonix Pharmaceuticals Announces Two Poster Presentations of TNX-102 SL (Sublingual Cyclobenzaprine HCl) at the ASCP Annual Meeting

Posted on May 30, 2024May 30, 2024 by aweinsoff@channelchek.com

Research News and Market Data on TNXP

May 30, 2024 8:00am EDTDownload as PDF

In the Phase 2 PREVAIL trial in fibromyalgia-type Long COVID, bedtime TNX-102 SL resulted in a signal in fatigue, sleep and cognitive function

Phase 2, investigator-initiated OASIS trial is designed to examine the safety and efficacy of TNX-102 SL in treating Acute Stress Disorder (ASD) after motor vehicle collision

First patient in OASIS expected to enroll in second quarter 2024

CHATHAM, N.J., May 30, 2024 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company), a fully-integrated biopharmaceutical company with marketed products and a pipeline of development candidates, today announced two poster presentations at the American Society of Clinical Psychopharmacology (ASCP) Annual Meeting being held May 28-31, 2024 in Miami Beach, Fla. Copies of the presentations are available under the Scientific Presentations tab of the Tonix website at www.tonixpharma.com.

In the poster presentation titled, “Effect of Bedtime Sublingual Cyclobenzaprine (TNX-102 SL) on Pain, Sleep, Fatigue, and Cognition in Fibromyalgia-Type Long COVID: Results of a Double-Blind Randomized Proof-of-Concept Phase 2 Study,” TNX-102 SL showed a robust effect size of 0.5 in improving fatigue and showed consistent activity across secondary measures of sleep quality, cognitive function, disability and Patient Global Impression of Change, but did not meet the primary endpoint of multi-site pain reduction at Week 14. Prior to the trial, Tonix had pre-specified that any effect size greater than 0.2 would be considered of interest for further study and, even given a substantial placebo response in pain magnitude measurements, key endpoints such as sleep quality diary (ES = 0.23), PROMIS Sleep Disturbance (ES = 0.32), PROMIS Fatigue (ES = 0.50), PROMIS Cognitive Function (ES = 0.21), the Insomnia Severity Index (ES = 0.24) and the Sheehan Disability Scale (ES = 0.26) all matched the criterion for further evaluation. TNX-102 SL was well tolerated with an adverse event profile comparable to prior studies and no new safety signals observed.

“These results further support the growing evidence that for most Long COVID patients, symptoms are at least partly driven by central nervous system mechanisms rather than persistent exposure to the SARS-CoV-2 virus,” said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals. “While Tonix is preparing for submission of a New Drug Application (NDA) for TNX-102 SL for the management of fibromyalgia (branded “Tonmya”), we believe that these results demonstrate it may also be effective in managing pain and aiding in sleep quality for patients with fibromyalgia-type Long COVID, further indicating that for many patients Long COVID should be viewed in the context of a chronic overlapping pain condition like fibromyalgia or chronic fatigue syndrome/myalgic encephalomyelitis framework.”

In the poster presentation titled, “Optimizing Acute Stress Reaction (ASR) Interventions with TNX-102 SL* (Sublingual Cyclobenzaprine HCl) – The OASIS Trial: Sustaining Civilian Performance Post-Trauma by Reduction of ASR and Prevention of ASD/PTSD,” TNX-102 SL will be evaluated for the reduction in severity of acute stress reaction (ASR) and the frequency of acute stress disorder (ASD) and posttraumatic stress disorder (PTSD) in civilians after a motor vehicle collision. To reduce the persistence of ASR symptoms and the rate and severity of ASD and PTSD, it may be critical to intervene in the immediate aftermath of trauma. Currently, there are no medications available at or near the point of care to treat patients suffering from acute trauma and support long-term health. Previous trials of TNX-102 SL showed that it reduced military PTSD symptoms in as early as two weeks with favorable tolerability. The first participant for the OASIS trial is expected to enroll in the second quarter of 2024.

“Previous trials of TNX-102 SL in PTSD suggested activity on sleep and stress related symptoms in the first several weeks of treatment,”^1,² said Dr. Lederman. “The study is motivated by the observation that the symptoms of ASR and PTSD are similar and by the hypothesis that TNX-102 SL’s effect on sleep quality may reduce ASR symptoms, possibly providing military personnel, veterans, and civilians with a new treatment option that, when administered in the early aftermath of a traumatic event, improves recovery, job performance, and quality of life.”

TNX-102 SL is a centrally acting, non-opioid medication, and, under the trade name Tonmya™, Tonix remains on track to submit an NDA to the U.S. Food and Drug Administration (FDA) in the second half of 2024 for the management of fibromyalgia. Tonix has scheduled a Type B pre-NDA meeting with FDA for the second quarter of 2024.

Tonix Pharmaceuticals Holding Corp.^*

Tonix is a fully-integrated biopharmaceutical company focused on developing, licensing and commercializing therapeutics to treat and prevent human disease and alleviate suffering. Tonix’s development portfolio is focused on central nervous system (CNS) disorders. Tonix’s priority is to submit a New Drug Application (NDA) to the FDA in the second half of 2024 for Tonmya¹, a product candidate for which two statistically significant Phase 3 studies have been completed for the management of fibromyalgia. TNX-102 SL is also being developed to treat acute stress reaction as well as fibromyalgia-type Long COVID. Tonix’s CNS portfolio includes TNX-1300 (cocaine esterase), a biologic designed to treat cocaine intoxication that has Breakthrough Therapy designation. Tonix’s immunology development portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is a humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. Tonix also has product candidates in development in the areas of rare disease and infectious disease. Tonix Medicines, our commercial subsidiary, markets Zembrace^® SymTouch^® (sumatriptan injection) 3 mg and Tosymra^® (sumatriptan nasal spray) 10 mg for the treatment of acute migraine with or without aura in adults.

*Tonix’s product development candidates are investigational new drugs or biologics and have not been approved for any indication.

¹Tonmya™ is conditionally accepted by the U.S. Food and Drug Administration (FDA) as the tradename for TNX-102 SL for the management of fibromyalgia. Tonmya has not been approved for any indication.

Zembrace SymTouch and Tosymra are registered trademarks of Tonix Medicines. All other marks are property of their respective owners.

This press release and further information about Tonix can be found at www.tonixpharma.com.

Sullivan GM, et al. Randomized clinical trial of bedtime sublingual cyclobenzaprine (TNX-102 SL) in military-related PTSD and the role of sleep quality in treatment response. Psychiatry Res. 2021 Jul;301:113974.
Parmenter ME, et al. A phase 3, randomized, placebo-controlled, trial to evaluate the efficacy and safety of bedtime sublingual cyclobenzaprine (TNX-102 SL) in military-related posttraumatic stress disorder. Psychiatry Res. 2024 (In Press). https://doi.org/10.1016/j.psychres.2024.115764

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to the failure to successfully market any of our products; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2024, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.

Investor Contact

Jessica Morris
Tonix Pharmaceuticals
investor.relations@tonixpharma.com
(862) 904-8182

Peter Vozzo
ICR Westwicke
peter.vozzo@westwicke.com
(443) 213-0505

Media Contact

Katie Dodge
LaVoieHealthScience
kdodge@lavoiehealthscience.com
(978) 360-3151

Source: Tonix Pharmaceuticals Holding Corp.

Released May 30, 2024

Release – QuoteMedia Powers Berkindale Analytics Market Data Platform

Posted on May 30, 2024May 30, 2024 by aweinsoff@channelchek.com

Research News and Market Data on QMCI

PHOENIX, May 29, 2024 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, is pleased to introduce Berkindale Analytics, as a new Client and Partner for North American market data and information for their advanced data and analytics platform.

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“We are very pleased to be partnering with Berkindale on their leading-edge research and analytics platform,” said Dave Shworan, CEO of QuoteMedia Ltd. “Berkindale takes genuine pride in providing their clients with the very best data solutions, and has earned a well deserved reputation for excellence. We are very proud to be partnering with them in meeting the needs of their diverse client base.”

About QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, IEX Data Services LLC, U.S. Bank, Bank of Montreal (BMO), Broadridge Financial Systems, JPMorgan Chase, Scotiabank, CI Financial, Canaccord Genuity Corp., Hilltop Securities, Avantax, Zacks Investment Research, S&P Global Market Intelligence Inc., Business Wire, Cision (PR Newswire, CNW Group), The Goldman Sachs Group, TheStreet.com, Motley Fool, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Aviso Financial Inc., iA Private Wealth, Ally Invest, Inc., Leede Jones Gable, Firstrade Securities, Charles Schwab, Lightspeed Financial Services Group LLC, Equisolve, Stock-Trak and others. Quotestream®, QMod™ and Quotestream Connect™ are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com .

About Berkindale Analytics

Berkindale Analytics offers a sophisticated B2B cloud-based solution providing Level 2 granular market data, financial news, social media, and packaged analytics as distinct products to customers through direct download, API, and dashboards accessed from a web portal. The Berkindale platform uses machine learning technologies, data mining trends, and sentiment analysis with natural language processing which enables firms to maximize the value of the data and to deliver timely, actionable insights to our clients.

For additional information, please visit www.berkindale.com and stay in touch with us by signing up for our newsletter.

We invite you to speak with a representative for your data analytics needs.

QuoteMedia Investor Relations

Brendan Hopkins
Email: investors@quotemedia.com
Call: (407) 645-5295

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