Month: June 2024

Release – Tonix Pharmaceuticals Announces Closing of $4.0 Million Public Offering

Posted on by aweinsoff@channelchek.com

Research News and Market Data on TNXP

June 28, 2024 4:05pm EDTDownload as PDF

CHATHAM, N.J., June 28, 2024 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (“Tonix” or the “Company”), a fully-integrated biopharmaceutical company, today announced the closing of its public offering of 2,833,900 shares of its common stock and pre-funded warrants to purchase up to 4,228,158 shares of common stock in a public offering at an offering price of $0.57 per share of common stock and $0.569 per pre-funded warrant. The warrants have an exercise price of $0.001 per share and became exercisable upon issuance.

The gross proceeds of the offering are $4.0 million before deducting placement agent fees and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, including the preparation of the new drug application relating to its Tonmya™ product candidate in patients with fibromyalgia, and the satisfaction of any portion of its existing indebtedness.

Dawson James Securities, Inc. acted as the sole placement agent for the offering.

Lowenstein Sandler, New York, NY, represented the Company in connection with the offering, and ArentFox Schiff LLP, Washington, DC, represented the placement agent.

This offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-266982) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering was made only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering were filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement may be obtained from Dawson James Securities, Inc., 101 North Federal Highway, Suite 600, Boca Raton, FL 33432 or by telephone at (561) 391-5555, or by email at investmentbanking@dawsonjames.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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.

Forward Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 including those relating to the intended use of proceeds from the public offering and other statements that are predictive in nature. 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

Primary Logo

Source: Tonix Pharmaceuticals Holding Corp.

Released June 28, 2024

Beyond the Big Names: Inside the Russell 3000’s Crucial Annual Update

Posted on by slightbourne@noblecapitalmarkets.com

Today marks a significant event in the financial world as the annual reconstitution of the Russell indexes takes effect after the market closes. This process, particularly for the Russell 3000 index, is a crucial moment for investors of all experience levels to pay attention to, as it can have far-reaching implications for both individual stocks and the broader market landscape.

The Russell 3000 index, which encompasses the largest 3,000 U.S. stocks by market capitalization, serves as a comprehensive barometer of the U.S. equity market. Its annual rebalancing is a carefully orchestrated event that reflects the evolving dynamics of the market, capturing the rise of emerging companies and the decline of others.

As the closing bell rings today, a new roster of companies will join the Russell 3000, while others will bid farewell. This shift is not merely a technicality but a reflection of changing market realities. Companies that have grown in value over the past year may find themselves newly included, signaling their ascent in the business world. Conversely, those that have fallen out of favor or experienced significant market cap declines may be removed, highlighting the cyclical nature of market success.

For investors, both novice and seasoned, this reconstitution presents a unique opportunity to gain insights into market trends and potential investment prospects. The companies being added to the index often represent growth stories or emerging sectors that are gaining traction. By paying close attention to these additions, investors can identify potential up-and-coming stars in the market before they become household names.

This year’s reconstitution has seen some notable changes, with several companies making their debut on the Russell 3000. Among the newcomers are Graham Corp(GHM), Lifeway Foods (LWAY), and Ocugen (OCGN), DLH Holdings Corp (DLHC), and NN Inc (NNBR). These additions reflect the dynamic nature of the market and highlight emerging trends across different sectors.

The inclusion of these companies in the Russell 3000 index is likely to bring significant benefits. For Graham Corporation, a company specializing in critical equipment for the defense, energy, and chemical industries, this recognition could attract more investor attention to the industrial technology sector and its role in key infrastructure. Lifeway Foods, a leading probiotic and fermented food company, may see increased interest in the growing health food sector. Ocugen, a biotechnology company focused on developing gene therapies and vaccines, could draw more eyes to the innovative potential in healthcare and pharmaceutical. DLH Holdings Corp, a provider of technology-enabled business process outsourcing and program management solutions, highlights the growing importance of efficient business services and government contracting. NN Inc, a diversified industrial company producing high-precision components and assemblies, underscores the continued significance of advanced manufacturing in various industries.

The impact of today’s reconstitution extends beyond individual stock picks. Index funds and ETFs that track the Russell 3000 will need to adjust their holdings to reflect the new composition. This rebalancing can lead to increased trading volumes and potential short-term price volatility for the affected stocks. For active traders, this volatility can create opportunities, while for long-term investors, it underscores the importance of understanding the underlying mechanisms that drive market movements.

It’s worth noting that while the Russell 3000 includes smaller companies compared to more famous indexes like the S&P 500, its comprehensive nature makes it a valuable tool for investors looking to gauge the health of the broader U.S. equity market. The index captures approximately 98% of the investable U.S. equity market, making it a more inclusive representation of the economy than narrower large-cap focused indexes.

As the day unfolds, investors would do well to keep an eye on the final list of additions and deletions published by FTSE Russell. This information can provide valuable insights into sector rotations, emerging trends, and potential investment opportunities. Moreover, understanding the methodology behind these changes can help investors make more informed decisions about their portfolios.

In conclusion, today’s Russell 3000 reconstitution is more than just a reshuffling of an index. It’s a snapshot of the current state of the U.S. equity market and a glimpse into its future direction. For investors of all levels, from novices just starting their journey to experienced market veterans, paying attention to these changes can offer valuable insights and potentially lucrative opportunities. As the market closes today and the new index composition takes effect, remember that even in the world of smaller companies, massive value awaits those who know where to look.

For more detailed information about the Russell reconstitution process and its implications, investors can visit the official FTSE Russell website at https://www.lseg.com/en/ftse-russell/russell-reconstitution. This resource provides comprehensive insights into the methodology, timelines, and impacts of the annual reconstitution, helping investors stay informed about this crucial market event.

Release – Graham Corporation Set to Join Russell 2000® and 3000® Indexes

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GHM

BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries, today announced it will be added to the Russell 2000® and Russell 3000® Indexes, effective after the close of financial markets on June 28, 2024.

“The inclusion in the Russell Indexes marks another milestone for GHM, recognizing the meaningful progress we have made in executing our strategy to drive revenue growth and enhance profitability,” commented Dan Thoren, President and Chief Executive Officer. “We believe that being part of the Russell indexes will increase our visibility within the investment community, improve our liquidity, and attract a broader range of investors.”

Membership in the U.S. Russell 3000® Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. The annual Russell indexes reconstitution captures the largest U.S. stocks by market capitalization.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9.1 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About Graham Corporation

GHM is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. The Graham Manufacturing and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “believe,” “will,” and other similar words. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors,” its quarterly reports on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

Christopher J. Thome
Vice President – Finance and CFO
Phone: (585) 343-2216

Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
dpawlowski@keiadvisors.com

Source: Graham Corporation

Released June 28, 2024

Release – MustGrow Biologics Corp. Announces Results of Shareholder Meeting

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on MGROF

SASKATOON, Saskatchewan, Canada, June 27, 2024 – MustGrow Biologics Corp. (TSXV: MGRO; OTC: MGROF; FRA: 0C0) (the “Company” or “MustGrow“), is pleased to announce the results of its 2024 annual meeting of shareholders (the “Meeting“) held on June 27, 2024. At the Meeting, shareholders approved all director nominees listed in the Company’s management information circular dated May 28, 2024 were elected as directors of the Company on a vote held by ballot. The results of the ballot were as follows:

DirectorVote TypeNumber of VotesPercentage of Votes
Corey GiassonFor9,778,10299.76%
Withheld23,2000.24%
Colin BletskyFor9,778,10299.76%
Withheld23,2000.24%
Brad MunroFor9,777,80299.76%
Withheld23,5000.24%
Thomas FlowFor9,777,80299.76%
Withheld23,5000.24%
Matt KowalskiFor9,778,10299.76%
Withheld23,2000.24%
David BoreckyFor9,794,00299.93%
Withheld7,3000.07%
Laura WestbyFor9,798,00299.76%
Withheld3,3000.24%

In addition, shareholders approved the reappointment of Ersnt & Young LLP, Chartered Professional Accountants, as the Company’s auditors and authorized the directors of the Company to fix their remuneration, and reapproved the Company’s omnibus equity incentive plan (the “Omnibus Plan“). Having received shareholder approval, the Company’s Omnibus Plan remains subject to final approval from the TSX Venture Exchange. 

The formal report on voting results with respect to all matters voted upon at the Meeting will be filed on SEDAR+ under www.sedarplus.ca. 

———

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol 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 — Bayer, Janssen PMP (pharmaceutical division of Johnson & Johnson), Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions for applications in biocontrol to potentially replace harmful synthetic chemicals in preplant soil treatment and weed control, to postharvest disease control and food preservation.  Bayer has a commercial agreement to develop and commercialize MustGrow’s biocontrol soil applications in Europe, Africa, and the Middle East.  Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its Organic Materials Review Institute (OMRI Listed®) and California’s Organic Input Material (OIM) Program registered biofertility product, TerraSanteTM, in key U.S. states including California.  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 technologies could be applied through injection, standard drip or spray equipment, improving functionality and performance features.  MustGrow has approximately 51.6 million basic common shares issued and outstanding and 54.1 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 

© 2024 MustGrow Biologics Corp. All rights reserved.

MustGrow Forward-Looking Statements

Certain statements included in this press 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”, “would”, “might”, “occur” or “be achieved”.  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 are described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2023 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedarplus.ca. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

Neither 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 release. 

FreightCar America (RAIL) – Poised for Greater Scale and Margin Expansion

Posted on by cpereira@noblefcm.com


Friday, June 28, 2024

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.

Initiating coverage with an Outperform rating. FreightCar America, Inc. is a diversified manufacturer of railroad cars and rail car components. The company designs and manufactures a broad variety of railroad car types for the transportation of bulk commodities and containerized freight products primarily in North America. These include open top hoppers, covered hoppers, gondolas, and intermodal and non-intermodal flat cars. FreightCar America and its predecessors have been manufacturing railroad cars since 1901.

Unique competitive advantages. FreightCar America is a pure play manufacturer that has unique manufacturing capabilities that allow it to respond to customer orders with short lead times due to its ability to set up a production line to batch produce orders and quickly change over to the next line for a different product type. Its engineering capabilities allow it to offer tailored solutions in areas unmet by competitors.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

GeoVax Labs (GOVX) – CRO Partnership For Clinical Trial Allows Sponsored Phase 2b Trial To Move Forward

Posted on by cpereira@noblefcm.com


Friday, June 28, 2024

GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel therapies and vaccines for solid tumor cancers and many of the world’s most threatening infectious diseases. The company’s lead program in oncology is a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, presently in a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax’s lead infectious disease candidate is GEO-CM04S1, a next-generation COVID-19 vaccine targeting high-risk immunocompromised patient populations. Currently in three Phase 2 clinical trials, GEO-CM04S1 is being evaluated as a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, and as a booster vaccine in patients with chronic lymphocytic leukemia (CLL). In addition, GEO-CM04S1 is in a Phase 2 clinical trial evaluating the vaccine as a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. GeoVax has a leadership team who have driven significant value creation across multiple life science companies over the past several decades.

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.

Partnership For BARDA-Funded Trial Announced. GeoVax announced a partnership with Allucent, a global clinical management organization (CRO), to conduct the Phase 2 clinical trial for CM04S1. The trial has been awarded approximately $357 million in funding through Project NextGen, with about $24.3 million going to GeoVax and the balance to fund the clinical trial costs. We see the partnership as an important step toward the start of the clinical trial, as well as another scientific validation for CM04S1 and the GeoVax manufacturing technologies.

The Partnership Allows The Trial To Begin As Expected. Under the grant, GeoVax is the trial sponsor with responsibility for manufacturing and providing vaccine supplies. The grant also requires a CRO to conduct the trial and manage its clinical operations. The announcement of the partnership with Allucent, a global CRO that can provide these services, allows the trial to move forward with a possible starting date during summer 2024.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Telecommunications Giant Nokia Expands Optical Network Presence with Infinera Acquisition

Posted on by slightbourne@noblecapitalmarkets.com

In a strategic move to bolster its position in the optical network market, Finnish telecommunications behemoth Nokia has announced plans to acquire Infinera Corporation, a California-based optical networking equipment manufacturer. The deal, valued at $2.3 billion, marks a significant step in Nokia’s efforts to scale up its optical network capabilities and strengthen its foothold in North America.

The acquisition, announced on Thursday, sent ripples through the tech industry, with Infinera’s stock price surging by nearly 22% following the news. Under the terms of the agreement, Nokia will pay $6.65 per share for Infinera, representing a substantial 26.4% premium over the company’s closing price of $5.26 on the day of the announcement.

This move comes as telecommunications companies worldwide are racing to upgrade their network infrastructure to meet the growing demand for high-speed connectivity and data transmission. Optical networks, which use light to transmit data over fiber optic cables, are crucial for supporting the increasing bandwidth requirements of 5G networks, cloud computing, and emerging technologies like artificial intelligence and the Internet of Things.

Infinera, headquartered in San Jose, California, has built a reputation as a leading provider of optical semiconductors and networking equipment for both fixed-line and mobile telecommunications networks. The company’s expertise in this field is expected to complement Nokia’s existing portfolio and accelerate its growth in the optical networking sector.

The deal structure allows for flexibility in payment, with Nokia committing to pay at least 70% of the purchase price in cash. Infinera shareholders will have the option to receive up to 30% of the total consideration in the form of Nokia’s American Depositary Shares, providing an opportunity for investors to maintain a stake in the combined entity.

From a financial perspective, the acquisition is projected to be immediately accretive to Nokia’s comparable earnings per share in the first year after closing. Moreover, the Finnish company anticipates that the deal will contribute over 10% to its profits by 2027, underscoring the long-term strategic value of the acquisition.

The move is particularly significant for Nokia’s expansion plans in North America, a key market for telecommunications infrastructure. By integrating Infinera’s technology and customer base, Nokia aims to enhance its competitive edge against rivals in the region and capitalize on the ongoing investments in network upgrades and 5G rollouts.

Industry analysts view this acquisition as a clear signal of Nokia’s commitment to diversifying its product offerings and strengthening its position in critical growth areas. The optical networking market is expected to experience robust growth in the coming years, driven by the increasing demand for high-capacity data transmission in various sectors, including telecommunications, data centers, and enterprise networks.

As the telecommunications landscape continues to evolve rapidly, strategic acquisitions like this one are becoming increasingly common. Companies are seeking to consolidate their strengths, fill gaps in their technological capabilities, and expand their market reach through carefully planned mergers and acquisitions.

The Nokia-Infinera deal is subject to customary closing conditions, including regulatory approvals and shareholder consent. Both companies have expressed confidence in the transaction’s potential to create value for their respective stakeholders and contribute to the advancement of global telecommunications infrastructure.

As the industry awaits the completion of this significant acquisition, all eyes will be on Nokia to see how it leverages Infinera’s expertise to drive innovation and growth in the competitive optical networking market.

U.S. Economy Shows Signs of Softening, but Remains Resilient

Posted on by slightbourne@noblecapitalmarkets.com

As we approach the midpoint of 2024, the U.S. economy continues to navigate choppy waters, displaying both signs of resilience and indications of a gradual slowdown. Recent economic data paints a picture of an economy in transition, with implications for investors across various sectors. The latest unemployment figures offer a nuanced view of the job market. While initial jobless claims dipped by 6,000 to 233,000 in the week ending June 22, the number of Americans receiving ongoing unemployment benefits climbed to 1.839 million – the highest level since November 2021. This uptick in continuing claims suggests that while layoffs remain relatively low, job seekers may be facing increased difficulty in finding new employment. The unemployment rate ticked up to 4.0% in May, marking its first increase since January 2022. However, economists caution against overinterpreting this rise, noting that the increase is concentrated among specific demographics and industries rather than indicating a broad-based weakening of the labor market.

The Commerce Department recently revised its estimate of first-quarter GDP growth upward to 1.4% annualized, a slight improvement from the previous 1.3% estimate but still significantly lower than the robust 3.4% growth seen in the fourth quarter of 2022. While a modest acceleration is expected in the second quarter, analysts project growth to remain below 2.0%. This slowdown in economic expansion reflects the cumulative impact of the Federal Reserve’s aggressive interest rate hikes, which have risen by 525 basis points since 2022 in an effort to combat inflation. The central bank has maintained its benchmark rate at 5.25%-5.50% since July 2023, but market expectations are now shifting towards potential rate cuts, with many anticipating the first reduction as soon as September 2024.

May’s economic data revealed some concerning trends in business spending and international trade. Orders for non-defense capital goods (excluding aircraft), a key indicator of business investment, fell by 0.6% in May. This decline suggests that higher borrowing costs and softening demand are beginning to impact companies’ willingness to invest in new equipment and technologies. On the trade front, the goods deficit widened by 2.7% to $100.6 billion in May, driven by a 2.7% drop in exports. This development could potentially act as a drag on second-quarter GDP growth, adding another layer of complexity to the economic outlook.

For investors, these economic indicators present a mixed bag of challenges and opportunities. The softening labor market and slowing economic growth may pressure consumer-focused sectors, while the potential for interest rate cuts later in the year could provide a boost to rate-sensitive industries such as real estate and utilities. The decline in business spending bears watching, particularly for those invested in industrial and technology sectors. Companies that provide essential equipment and services may face headwinds in the near term as businesses become more cautious with their capital expenditures. Meanwhile, the widening trade deficit could have implications for multinational corporations and currency markets. Investors may want to keep a close eye on companies with significant overseas exposure and consider the potential impacts of currency fluctuations on their portfolios.

As we move into the second half of 2024, the U.S. economy appears to be walking a tightrope between continued growth and potential contraction. While some economists believe we’re on track for a “soft landing,” investors should remain vigilant and diversified. The coming months will be crucial in determining whether the current slowdown stabilizes or accelerates. Key factors to watch include the Federal Reserve’s policy decisions, inflation trends, and global economic developments. As always, a well-informed and adaptable investment strategy will be essential in navigating these uncertain economic waters. The complex interplay of labor market dynamics, GDP growth, business investment, and international trade will continue to shape the economic landscape, offering both challenges and opportunities for astute investors in the months ahead.

Release – GeoVax Partners with Allucent to Conduct Phase 2b Clinical Study of Next-Generation COVID-19 Vaccine Candidate with Funding from BARDA

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GOVX

10,000-participant randomized Phase 2b study will evaluate and compare GeoVax’s multi-antigen, vaccine

candidate (GEO-CM04S1) to an approved vaccine against COVID-19

Study is Funded by BARDA through Project NextGen, executed through its Clinical Studies Network

Atlanta, GA, June 27, 2024 – GeoVax Labs, Inc. (Nasdaq: GOVX), a biotechnology company developing immunotherapies and vaccines against cancers and infectious diseases, announced today that it will partner with Allucent, a global clinical research organization (CRO), to conduct a Phase 2b clinical trial of GEO-CM04S1, GeoVax’s dual-antigen next-generation COVID-19 vaccine.

GeoVax previously announced that it received an award through the Rapid Response Partnership Vehicle (RRPV) to advance development of GEO-CM04S1, GeoVax’s dual-antigen next-generation COVID-19 vaccine, in a Phase 2b clinical trial. The RRPV is a consortium funded by the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) within the U.S. Department of Health and Human Services (HHS).

Under the agreement, GeoVax will sponsor a 10,000-participant, randomized, Phase 2b double-blinded study to evaluate the relative efficacy of GEO-CM04S1 compared to an approved/authorized COVID-19 vaccine to prevent symptomatic, PCR-confirmed SARS-CoV-2 infection. As part of BARDA’s Clinical Studies Network, Allucent will initiate and implement the BARDA-funded study. The combined value of the awards to GeoVax and Allucent toward the clinical evaluation of GEO-CM04S1 is approximately $367 million.

David Dodd, Chairman & CEO of GeoVax, stated, “The work supported by BARDA’s Project NextGen will significantly advance the collective efforts to combat COVID-19 and its variants, and we are proud that GEO-CM04S1 was selected to be part of those critically important initiatives. We are delighted to be collaborating with Allucent on this important study.”

Mark A. Goldberg, M.D., Chairman and CEO of Allucent, commented, “We are honored to have been previously chosen by BARDA to be part of its Clinical Studies Network for this critical initiative and pleased to be offered the opportunity to execute the Phase 2b trial of GEO-CM04S1 in collaboration with GeoVax. We are excited to leverage our clinical development expertise and resources to help develop next-generation booster vaccines that will enhance global immunity and save lives.”

About Project NextGen

Funding for this project is provided under Project NextGen, a $5 billion initiative by HHS to advance a pipeline of new, innovative vaccines and therapeutics providing broader and more durable protection for COVID-19 than the first generation COVID vaccines and medicines. GeoVax’s vaccine candidate provides many of the features identified, including broader protection among variants of concern (VOC) and a longer duration of protection.

GeoVax’s role in this project is being funded in whole or in part with federal funds from the Department of Health and Human Services (HHS); Administration for Strategic Preparedness and Response (ASPR); Biomedical Advanced Research and Development Authority (BARDA), under Other Transaction (OT) 75A50123D00005.

Allucent’s role in this project is being funded in whole or in part with federal funds from the Department of Health and Human Services (HHS), Administration for Strategic Preparedness and Response (ASPR); Biomedical Advanced Research and Development Authority (BARDA), under contract 75A50120D00016/75A50123F33005.

About GEO-CM04S1

GEO-CM04S1 is based on GeoVax’s MVA viral vector platform, which supports the presentation of multiple vaccine antigens to the immune system in a single dose. GEO-CM04S1 encodes for both the spike (S) and nucleocapsid (N) antigens of SARS-CoV-2 and is specifically designed to induce both antibody and T-cell responses to those parts of the virus less likely to mutate over time. The more broadly functional engagement of the immune system is designed to protect against severe disease caused by continually emerging variants of COVID-19. Vaccines of this format should not require frequent and repeated modification or updating.

GEO-CM04S1 is currently being evaluated in three ongoing Phase 2 clinical trials:

  • As a primary vaccine in immunocompromised patients (with hematologic cancers receiving cell transplants or CAR-T therapy). ClinicalTrials.gov Identifier: NCT04977024. A recent presentation of unpublished data from the open-label portion of the trial indicates that GEO-CM04S1 is highly immunogenic in these patients, inducing both antibody responses, including neutralizing antibodies, and T-cell responses.
  • As a booster vaccine in immunocompromised patients with chronic lymphocytic leukemia (CLL), a recognized high-risk group for whom current mRNA vaccines and monoclonal antibody (MAb) therapies appear inadequate relative to providing protective immunity. ClinicalTrials.gov Identifier: NCT05672355.
  • As a booster vaccine for healthy adults who have previously received the Pfizer or Moderna mRNA vaccine. gov Identifier: NCT04639466.

About GeoVax

GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel therapies and vaccines for solid tumor cancers and many of the world’s most threatening infectious diseases. The company’s lead program in oncology is a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, which recently completed enrollment in a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax’s lead infectious disease candidate is GEO-CM04S1, a next-generation COVID-19 vaccine targeting high-risk immunocompromised patient populations. Currently in three Phase 2 clinical trials, GEO-CM04S1 is being evaluated as a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, and as a booster vaccine in patients with chronic lymphocytic leukemia (CLL). In addition, GEO-CM04S1 is in a Phase 2 clinical trial evaluating the vaccine as a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. GeoVax has a leadership team who have driven significant value creation across multiple life science companies over the past several decades. For more information, visit our website: www.geovax.com.

About Allucent

Allucent is on a mission to help bring new therapies to light by solving the distinct challenges of its biopharma and government clients. Allucent is a global provider of comprehensive drug development solutions, including consulting, clinical operations, biometrics, and clinical pharmacology across various therapeutic areas. With more than 30 years of experience in over 60 countries, Allucent’s individualized partnership approach provides experience-driven insights and expertise to assist its clients in successfully navigating the complexities of delivering novel treatments to patients. Visit Allucent.com for more information.

Forward-Looking Statements

This release contains forward-looking statements regarding GeoVax’s business plans. The words “believe,” “look forward to,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Actual results may differ materially from those included in these statements due to a variety of factors, including whether: GeoVax is able to obtain acceptable results from ongoing or future clinical trials of its investigational products, GeoVax’s immuno-oncology products and preventative vaccines can provoke the desired responses, and those products or vaccines can be used effectively, GeoVax’s viral vector technology adequately amplifies immune responses to cancer antigens, GeoVax can develop and manufacture its immuno-oncology products and preventative vaccines with the desired characteristics in a timely manner, GeoVax’s immuno-oncology products and preventative vaccines will be safe for human use, GeoVax’s vaccines will effectively prevent targeted infections in humans, GeoVax’s immuno-oncology products and preventative vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete development, there is development of competitive products that may be more effective or easier to use than GeoVax’s products, GeoVax will be able to enter into favorable manufacturing and distribution agreements, and other factors, over which GeoVax has no control.

Further information on our risk factors is contained in our periodic reports on Form 10-Q and Form 10-K that we have filed and will file with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. 

Company Contact:                          Investor Relations Contact:                          Media Contact:
info@geovax.com austin.murtagh@precisionaq.com sr@roberts-communications.com 
678-384-7220 212-698-8696 202-779-0929

Release – Tonix Pharmaceuticals Announces Pricing of Approximately $4.0 Million Public Offering

Posted on by aweinsoff@channelchek.com

Research News and Market Data on TNXP

June 27, 2024 8:36am EDT

CHATHAM, N.J., June 27, 2024 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (“Tonix” or the “Company”), a fully-integrated biopharmaceutical company, today announced it has entered into a placement agency agreement for the purchase and sale of approximately 7,060,918 shares of its common stock (or pre-funded warrants in lieu thereof) at an offering price of $0.57 per share (or $0.569 per pre-funded warrant in lieu thereof). The closing of the public offering is expected to take place on or about June 28, 2024, subject to the satisfaction of customary closing conditions.

The gross proceeds of the offering will be approximately $4.0 million before deducting placement agent fees and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, including the preparation of the new drug application relating to its Tonmya™ product candidate in patients with fibromyalgia, and the satisfaction of any portion of its existing indebtedness.

Dawson James Securities, Inc. is acting as the sole placement agent for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-266982) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering will be made only by means of a prospectus supplement and accompanying base prospectus, as may be further supplemented by any free writing prospectus and/or pricing supplement that Tonix may file with the SEC. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement may be obtained from Dawson James Securities, Inc., 101 North Federal Highway, Suite 600, Boca Raton, FL 33432 or by telephone at (561) 391-5555, or by email at investmentbanking@dawsonjames.com. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that Tonix has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about Tonix and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 including those relating to the completion of the public offering, the satisfaction of customary closing conditions, the intended use of proceeds from the public offering and other statements that are predictive in nature. 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

Primary Logo

Source: Tonix Pharmaceuticals Holding Corp.

Released June 27, 2024

Release – Comtech Launches Artificial Intelligence-Enabled Public Safety Solution

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CMTL

New SmartAssist Solution to Enhance Emergency Response & Reduce Burden on 9-1-1 Call Handlers

CHANDLER, Ariz. – Jun. 27, 2024– Comtech (NASDAQ: CMTL) (“the Company”), a global technology leader, today announced the launch of SmartAssist™, an artificial intelligence (“AI”)-backed solution developed to answer low-priority non-emergency calls without engaging a telecommunicator.

SmartAssist is designed to help Emergency Communications Centers (“ECCs”) and Public Safety Answering Points (“PSAPs”) manage call and Internet of Things device volumes by using AI chatbots to answer and triage non-emergency calls. The first of many applications in SmartAssist relies on AI bots programmed using conversational design to understand the natural language of the caller and resolve the caller’s request without the need for human intervention for non-emergency calls.

“One of the most critical challenges ECCs face today is staffing shortages, which can cause delays in 9-1-1 call answering times,” said Jeff Robertson, President of Comtech’s Terrestrial & Wireless Networks Segment. “Our SmartAssist solution solves call volume challenges and staffing shortages by streamlining 9-1-1 workflows with new AI-backed capabilities that can effectively handle most non-emergency administrative calls without telecommunicator assistance. Built on Comtech’s industry-leading public safety solutions, SmartAssist further demonstrates our ability to deliver innovative first-to-market solutions that solve today’s most pressing public safety challenges.”

The SmartAssist solution provides robust AI-backed voice and chatbot capabilities that enable public safety customers to leverage customized response solutions for a broad spectrum of low-priority non-emergency caller inquiries, ranging from text messages and form creation to foreign language capacities and performance metrics.

SmartAssist Pilot Programs:

Comtech is partnering with multiple agencies and its Next Generation 911 customers across the United States in pre-market trials to integrate and deploy SmartAssist in PSAPs connected to the Company’s NG911 networks to enhance non-emergency 9-1-1 response rates, effectively prioritize mission-critical calls, improve situational awareness, and reduce staffing shortages.

SmartNG Portfolio:

SmartAssist is the first solution within Comtech’s SmartNG portfolio of services. The Company’s SmartNG portfolio of services will enable the convergence of Next Generation 911 and AI solutions to enhance and optimize ECC/PSAP workflows. As the first SmartNG service offered, SmartAssist will significantly enhance public safety call processing, reduce emergency response times, and alleviate the impacts of staffing shortages.

SmartAssist integrates with existing administrative phone lines without requiring changes to the Call Handling Equipment, allowing Comtech customers to immediately begin benefitting from this staff augmentation tool.

Comtech is continuing to build out its SmartNG portfolio, which will include other interoperable AI-backed capabilities that incorporate language identification, transcription, translation, and advanced analytics, among other services. Comtech’s SmartNG portfolio creates new comprehensive public safety solutions designed with the future in mind-enhancing emergency response and assisting with staffing challenges.

For more information on Comtech’s SmartAssist solution, visit: https://www.comtech911.com/smartassist.

About Comtech

Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions.For more information, please visit www.comtech.com.

Forward-Looking Statements

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

Approved for Public Release 151-2024

Investor Relations

Maria Ceriello

631-962-7115

Maria.Ceriello@comtech.com

Media Contact

Jamie Clegg

480-532-2523

jamie.clegg@comtech.com

The GEO Group (GEO) – A Resolution for Lawton

Posted on by cpereira@noblefcm.com


Thursday, June 27, 2024

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 103 facilities totaling approximately 83,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

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.

Resolution. In a quick turnaround, The GEO Group and the State of Oklahoma Department of Corrections (ODOC) reached an agreement on a one-year contract to continue operating the Lawton Correctional and Rehabilitation Facility (LCRF) through June 2025. The Board of Correction approval allows the contract to move forward in the process to be approved by the Attorney General’s office and executed by ODOC.

Changes. As part of the agreement, ODOC will reduce the number of inmates housed at LCRF to 2,388 from a current 2,616. With the population reduction, GEO has pledged to actively work to reduce violence, provide more access to programs, and grant more out-of-cell time for the inmates.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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

Comtech Telecommunications (CMTL) – New Award from Texas

Posted on by cpereira@noblefcm.com


Thursday, June 27, 2024

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

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.

New Contract. Comtech announced the Company has been awarded a contract from North Central Texas Emergency Communications District to provide NG911 services. The Company will be assisting in further modernizing the district’s infrastructure. The contract carries a five-year base award with three two-year option periods, and a maximum value of $30 million.

Continued Relationship. The district’s contract with Comtech continues an established relationship of over 10 years. Currently, the Company provides call routing and call handling technologies and serves over two million people in the state of Texas. With the contract, the district will have the ability to fully migrate to a new NG911 system, and the Company will also help in enhancing the region’s call routing capabilities.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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