Month: October 2025

Release – Travelzoo Reports Third Quarter 2025 Results

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Oct 28, 2025, 09:46 ET

NEW YORK, Oct. 28, 2025 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO):

  • Revenue of $22.2 million, up 10% year-over-year
  • Consolidated operating profit of $0.5 million
  • Non-GAAP consolidated operating profit of $1.1 million
  • Cash flow from operations of ($0.4) million
  • Earnings per share (EPS) of $0.01

Travelzoo, the club for travel enthusiasts, today announced financial results for the third quarter ended September 30, 2025. Consolidated revenue was $22.2 million, up 10% from $20.1 million year-over-year. In constant currencies, revenue was $21.9 million, up 9% year-over-year. Travelzoo’s reported revenue consists of advertising revenues and commissions, derived from and generated in connection with purchases made by Travelzoo members, and membership fees.

In Q3, Travelzoo continued to invest significantly in acquiring more Club Members when we saw that we can achieve a payback and positive return on investment (ROI) within a quarter. Marketing costs were expensed immediately. Membership fees revenue is recognized ratably over the subscription period of 12 months. The effect is a sizable reduction in EPS. We refer to our investor presentation.

Net income attributable to Travelzoo was $0.2 million for Q3 2025, or $0.01 per share, compared with $0.26 per share in the prior-year period.

Non-GAAP operating profit was $1.1 million. Non-GAAP operating profit excludes amortization of intangibles ($2,000), stock option expenses ($399,000), and severance-related expenses ($167,000). Please refer to “Non-GAAP Financial Measures” and the tabular reconciliation below.

“We will continue to leverage Travelzoo’s global reach, trusted brand, and strong relationships with top travel suppliers to negotiate more Club Offers for Club Members and add new benefits, such as our popular complementary airport lounge access worldwide in case of a delayed flight,” said Holger Bartel, Travelzoo’s Global CEO. “Travelzoo members are affluent, active, and open to new experiences. We inspire travel enthusiasts to travel to places they never imagined they could. Travelzoo is the must-have membership for those who love to travel as much as we do.”

Travelzoo North America
North America business segment revenue increased 11% year-over-year to $14.2 million. Operating profit for Q3 2025 was $1.1 million, or 8% of revenue, compared to operating profit of $3.2 million or 25% of revenue in the prior-year period.

Travelzoo Europe
Europe business segment revenue increased 9% year-over-year to $6.6 million. Operating loss for Q3 2025 was $640,000, or 10% of revenue, compared to operating profit of $1.0 million, or 17% of revenue in the prior-year period. The reported operating loss occurred because we acquired more Club Members.

Jack’s Flight Club
Jack’s Flight Club is a membership subscription service in which Travelzoo has a 60% ownership interest. Revenue increased 12% year-over-year to $1.4 million. The number of premium subscribers increased 8% year-over-year. Jack’s Flight Club’s revenue from subscriptions is recognized ratably over the subscription period (quarterly, semi-annually, annually). Operating profit for Q3 2025 was $20,000, compared to operating profit of $27,000 in the prior-year period.

New Initiatives
New Initiatives business segment revenue, which includes Licensing and Travelzoo META, was $27,000. Operating loss for Q3 2025 was $20,000.

In 2020, Travelzoo entered into royalty-bearing licensing agreements with local licensees for the exclusive use of Travelzoo’s brand, business model, and members in  Australia, Japan, New Zealand, and Singapore. Under these arrangements, Travelzoo’s existing members in Australia, Japan, New Zealand, and Singapore will continue to be owned by Travelzoo as the licensor. Licensing revenue from the licensee in Australia was $9,000 for Q3 2025. Licensing revenue from the licensee in Japan was $7,000 for in Q3 2025. Licensing revenue is expected to increase going forward.

Reach
Travelzoo reaches 30 million travelers. This includes Jack’s Flight Club. Comparisons to prior periods are no longer meaningful due to strategic developments of the Travelzoo membership.

Income Taxes
The reported income tax provision and reserves for Q3 2025 are $244,000. Travelzoo intends to utilize available net operating losses (NOLs) to largely offset its tax liability for Q3 2025.

Balance Sheet
As of September 30, 2025, cash, cash equivalents and restricted cash were $9.2 million. Cash flow from operations was ($0.4) million.

Deferred revenue increased because membership fees revenue is recognized ratably over the subscription period.

Share Repurchase Program
During Q3 2025, the Company repurchased 148,602 shares of its outstanding common stock.

L ooking Ahead
For Q4 2025, we expect year-over-year revenue growth to continue. We expect revenue growth to accelerate as a trend in subsequent quarters, as membership fees revenue is recognized ratably over the subscription period of 12 months, as we acquire new members, and as more Legacy Members become Club Members. Over time, we expect profitability to substantially increase as recurring membership fees revenue will be recognized. In the short-term, fluctuations in reported net income are possible. We might see attractive opportunities to increase marketing. We expense marketing costs immediately.

In 2024, we introduced a membership fee for Travelzoo. Legacy Members, who joined prior to 2024, continue to receive certain travel offers. However, Club Offers and new benefits are only available to Club Members, who pay the membership fee. Therefore, we are seeing many Legacy Members become Club Members over time—in addition to new members who join.

Non-GAAP Financial Measures
Management calculates non-GAAP operating income when evaluating the financial performance of the business. Calculation of non-GAAP operating income, also called “non-GAAP operating profit” in this press release and today’s earnings conference call, excludes the following items: amortization of intangibles, stock option expenses, and severance-related expenses. This press release includes a table which reconciles GAAP operating income to the calculation of non-GAAP operating income. Non-GAAP operating income is not required by, or presented in accordance with, generally accepted accounting principles in the United States of America (“GAAP”). This information should be considered as supplemental in nature and should not be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures reported by other companies.

Conference Call
Travelzoo will host a conference call to discuss third quarter 2025 results today at 11:00 a.m. ET. Please visit http://ir.travelzoo.com/events-presentations to

  • download the management presentation (PDF format) to be discussed in the conference call
  • access the webcast.

About Travelzoo
We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travelers. Club Members receive Club Offers personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with thousands of top travel suppliers—our long-standing relationships give us access to irresistible deals.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

View full release here.

Investor Relations:
ir@travelzoo.com

SOURCE Travelzoo

Release – SKYX Signs Agreement with Prominent U.S. and International Real Estate Developers Global Ventures Group to Deploy its Advanced Smart Home Technologies to Buildings and Hotels in Middle East Projects Including Saudi Arabia and Egypt

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October 28, 2025 08:45 ET  | Source: SKYX Platforms Corp.

During the Course of the Agreement Global Ventures Group Plans to Deploy SKYX’s Smart Technologies into Tens of Thousands of Homes and Hotel Rooms 

SKYX Expects to Deploy Hundreds of Thousands of Products into Massive Growth of Middle East Projects

SKYX’s Technologies are Expected to Offer Long-Term Recurring Revenue Opportunities Through Monitoring, Subscriptions, and AI Services, in Addition to Product Upgrades, Interchangeability and Platform-Wide Integrations for Future Developments

MIAMI, Oct. 28, 2025 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive platform technology company with over 100 pending and issued patents globally and over 60 lighting and home décor websites, with a mission to make homes and buildings become smart and safe as the new standard, today announced that it has entered into an agreement with Global Ventures Group, a leading U.S. and international real estate development firm based in Chicago, Illinois. Under the agreement, SKYX’s advanced smart home and smart building technologies will penetrate residential, commercial, and hotel projects across the Middle East, including developments in Saudi Arabia and Egypt. The collaboration marks a significant step in SKYX’s global expansion strategy as it continues to advance its mission to make homes and buildings smarter, safer, and more connected as the new standard.

The Global Ventures Group is led by Randall Langer, Founder and CEO, and a member of the U.S. Chamber of Commerce, participating in initiatives and councils in the Middle East and North Africa Region.

SKYX is expected to supply hundreds of thousands of units of its advanced and smart home technologies, including SKYX’s all-in-one smart home platform, its plug & play ceiling lighting, ceiling fans, recessed lights, down lights, EXIT signs, emergency lights, indoor and outdoor wall lights, plug-in LED mirrors, among other advanced smart products.

Randall Langer, Global Ventures Group Founder and CEO, said, “We are excited to collaborate with SKYX to bring their smart home and innovative technologies into our upcoming Middle East projects in Saudi Arabia and Egypt. As the founder of the Global Ventures Group and as a member of the U.S. Chamber of Commerce, our goal is to deploy leading and highly disruptive U.S. technologies into international projects. By integrating SKYX’s technologies in the Middle East, we are advancing the standards of safety, convenience, and design for communities throughout the region, and we look forward to expanding this collaboration and related initiatives with SKYX throughout future developments.”

For information about Global Ventures Group, visit https://www.gvgrp.com/

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said; “We are excited to be working with a prominent U.S. and international developer such as the Global Ventures Group. We look forward to collaborating with them on international projects to enhance the value of buildings and hotel projects in the region while creating safer, advanced, and smart homes and buildings for the future.”

To view SKYX’s Technologies demo video CLICK HERE

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements
Certain statements made in this press release are not based on historical facts but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com

Release – Aurania Signs MOU with RSA S.R.L. and Firestone Ventures Inc. to Evaluate Potential Critical Metals Project in Europe

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October 28, 2025 7:30 AM EDT | Source: Aurania Resources Ltd.

Toronto, Ontario–(Newsfile Corp. – October 28, 2025) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) has signed a Memorandum of Understanding (the “MOU”) with Società per il Risanamento e lo Sviluppo Ambientale dell’ex miniera di amianto di Balangero e Corio (Society for the Remediation and Environmental Development of the former asbestos mine of Balangero and Corio otherwise known as “RSA”), and Firestone Ventures Inc. (“Firestone”). The MOU aims to examine the extensive tailings for a potentially commercially viable recovery of valuable nickel and cobalt, two “Critical Metals” for electric battery production, as highlighted in the European Union Critical Raw Materials Act. The Company has been investigating this concept since March 2024 as complementary to the ongoing Corsica awaruite nickel programme. Firestone will be responsible for the carbon capture portion of the project.

The MOU allows for data collection and sampling of tailings at the former Balangero Asbestos Mine (1916-1990), approximately 25 km NNW of Turin, Italy, to:

  1. Examine the possibilities of extracting valuable nickel, cobalt, chromium, iron and copper from the waste piles, and
  2. Examine the feasibility of using the waste stream to capture carbon from industrial sources and permanently destroy all the asbestos minerals, thereby rendering the material completely benign.

This is a cleanup project with the added bonus of carbon capture and production of critical metals. The MOU has a term of 1 year, after which, if results prove favourable, the parties are expected to enter into a commercial agreement with respect to the extraction of metals from the waste piles and subsequent carbon capture from the waste product stream. Aurania and Firestone have exclusive access to the site for this evaluation.

RSA have determined that the main dry-stacked tailings pile contains approximately 60 million cubic metres of serpentinite waste rock (Oboni and others, 2011; doi:http://dx.doi.org/10.14288/1.0107741). This is material already excavated, milled, and heaped in a pile approximately 250 metres in height. It has been crushed to -10 cm, and the majority of the material is < 1 cm.

A rigorous determination of parameters has not yet been done, and as such, we stress caution; however, with a specific gravity of 2.55 as reported for average serpentinite by the United States Geological Survey (USGS) and a volume of 60 million cubic metres, circa 153 million tonnes of waste is considered to be in the waste pile. In a limited reconnaissance sampling program commissioned by Aurania in 2024, Maxime Dupéré (géo. Project Geologist, SGS Canada Inc. – Geological Services) reported an average of 0.15% nickel for the Balangero tailings. This agrees well with the published average of around 0.17- 0.18% (average of over fifty analyses, with minimum and maximum values ​​respectively around 0.1 and 0.3 %) as reported by Prof. Steffano Zucchetti in 1966. Assuming an average grade of 0.15% Ni, the waste pile could contain circa 229,500 tonnes of nickel. There is also a second, older tailings and waste rock pile on the property that is possibly of similar dimensions.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/272112_32522af214541918_001.jpg

Figure 1: Main tailings pile at the Balangero Mine. Approximate height is 250 metres.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/272112_32522af214541918_001full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2477/272112_32522af214541918_002.jpg

Figure 2: Appearance of typical mine waste at Balangero.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/272112_32522af214541918_002full.jpg

This represents a potentially valuable resource which has already been extracted, crushed and dry-stacked. No drilling, blasting or mining will be required in this project. The main target mineral is “awaruite”, a natural alloy of nickel and iron (Ni3Fe), with a composition of 77-83% Ni. There is no sulphide component, and this can be considered a “Green Nickel” recovery project. The awaruite nickel mineral was first described by Zucchetti in 1966, who discovered the mineral in magnetic sand, along with magnetite (Fe3O4). Zucchetti worked out an entire flow sheet for the beneficiation and recovery of the awaruite. Though the nickel-bearing awaruite mineral was not recognized at the time, the magnetic sand from the Balangero Mine tailings was used for some months in 1943 as furnace feed to make steel during World War II (Turin archives).

At present, some 450 kg of material taken from 36 sites across the property is being evaluated at STEVAL (Station expérimentale de valorisation des matières premières et des substances résiduaires) [Experimental station for the recovery of raw materials and residual substances] in Nancy, France. This will determine a complete mineralogical characterization of the material, the grain size of awaruite and other valuable minerals for potential recovery, the necessary grind size to liberate the metals, the bond index for crushing the material, and Davis Tube magnetic separation, which splits the sub-sample into magnetic and non-magnetic fractions. The magnetic fraction will then be fused with lithium metaborate/tetraborate flux and analyzed by X-ray fluorescence. These analyses are more representative of the recoverable grade of the waste since most recoverable nickel will be in the magnetic separate (e.g., awaruite), whereas the whole rock fusion/ICP analyses may include non-recoverable nickel hosted in silicate phases. This work is already ongoing.

International consultancy firm SRK has been retained to produce a Scoping Level Review on the Mineral Assets of the Balangero tailings retreatment project. We forecast this will take approximately 6 months to complete. Dr. Chiara Boschi, a Senior Researcher at the Institute of Geosciences and Earth Resources (IGG-CNR, Pisa, Italy), has been retained by Firestone to develop a process for using carbon dioxide from industrial sources to neutralize the contained asbestos in the tailings and fix the carbon permanently in a potentially useful form. Dr. Boschi is a recognized expert and published author on the carbonation of serpentinite and has over 15 years of experience in this regard.

RSA has some twenty years of experience in managing and reclaiming the Balangero Mine site and has been highly successful in reducing the threat of airborne asbestos, so today it is not considered a concern to local communities. It is not economically feasible at the known grades of nickel to consider the reopening of Balangero as a mining operation, and Aurania has no intention in this regard.

Dr. Keith Barron, a director and Chief Executive Officer of the Company, is also the President and a director of Firestone Ventures Inc.

Qualified Persons:
The geological information contained in this news release has been verified and approved by Aurania’s VP Exploration, Mr. Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucú Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com		 

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 release.

Forward-Looking Statements
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes: that if results of the MOU prove favourable, a commercial agreement is expected to be entered into with respect to the extraction of minerals from the waste piles, the assumption that the waste pile may have the potential to contain circa 229,500 tonnes of nickel, that this represents a valuable resource which has already been extracted, crushed and dry-stacked, the expectation that the evaluation of 450 kg of material will provide mineralogical characterization and other expected information about such material, the timing to produce a Scoping Level Review on the Mineral Assets of the Balangero tailings retreatment project, Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the tonnage and grade of mineralization which has the potential for economic extraction and processing, the merits and effectiveness of known process and recovery methods, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations, the commencement of any drill program and estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things: failure to achieve the anticipated results, incorrect assumptions made in the initial evaluation of the project, failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the inability to recover and process mineralization using known mining methods; the presence of deleterious mineralization or the inability to process mineralization in an environmentally acceptable manner; commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel; a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents; an inability to access financing as needed; a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania; a failure to comply with environmental regulations; a weakening of market and industry reliance on precious metals and base metals; and those risks set out in the Company’s public documents filed on SEDAR+. Aurania cautions the reader that the above list of risk factors is not exhaustive. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

info

SOURCE: Aurania Resources Ltd.

Release – Unicycive Therapeutics Provides Update from FDA Type A Meeting and Expects to Resubmit OLC NDA Before Year-End

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October 28, 2025 7:05am EDT Download as PDF

Cash runway into 2027, which is expected to support application resubmission, potential FDA approval, and launch of OLC

LOS ALTOS, Calif., Oct. 28, 2025 (GLOBE NEWSWIRE) — Unicycive Therapeutics, Inc. (Nasdaq: UNCY), a clinical-stage biotechnology company developing therapies for patients with kidney disease (the Company or Unicycive), today announced an update from its meeting with the U.S. Food and Drug Administration (FDA) and timing of the resubmission of its New Drug Application (NDA) for Oxylanthanum Carbonate (OLC) following receipt of a Complete Response Letter (CRL) on June 30, 2025. The Type A FDA meeting was held to discuss the resolution of the single deficiency identified in the CRL related to the compliance status of a third-party manufacturing vendor. No other concerns have been identified to the Company, including pre-clinical, clinical, or safety data submitted as part of the NDA. Following receipt of the official meeting minutes from the Type A meeting and engaging in discussions with its third-party manufacturing vendor, the Company plans to resubmit the NDA for OLC by year-end.

“We are grateful for the highly constructive feedback and detailed meeting minutes we received from the FDA and look forward to resubmitting the NDA as we advance OLC toward potential approval,” said Shalabh Gupta, MD, Chief Executive Officer of Unicycive. “Following our interactions with the FDA, we are very encouraged about the potential for a swift resolution of the issue raised in our CRL and we believe we are now on track to resubmit our NDA before the end of the year, which could lead to a PDUFA date in the first half of 2026. With over $42 million on our balance sheet as of September 30, we have a cash runway into 2027, enabling us to work through the regulatory approval process and continue to advance preparations for potential OLC commercialization while focusing on our mission to deliver improved treatment options for patients with hyperphosphatemia on dialysis.”

About Oxylanthanum Carbonate (OLC)
OLC is an investigational oral phosphate binder that leverages proprietary nanoparticle technology to deliver high phosphate binding potency, reducing the number and size of pills that patients must take to treat hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis. Its potential best-in-class profile may have meaningful patient adherence benefits over currently available treatment options as it requires a lower pill burden. Unicycive is seeking FDA approval of OLC via the 505(b)(2) regulatory pathway. The NDA submission package is based on data from three clinical studies (a Phase 1 study in healthy volunteers, a bioequivalence study in healthy volunteers, and a tolerability study of OLC in CKD patients on dialysis), multiple preclinical studies, and the chemistry, manufacturing and controls (CMC) data. OLC is protected by a strong global patent portfolio including issued patents on composition of matter with exclusivity until 2031, and with the potential for patent term extension until 2035.

About Hyperphosphatemia
Hyperphosphatemia is a serious medical condition that occurs in nearly all patients with End Stage Renal Disease (ESRD). Annually there are over 450,000 individuals in the U.S. that require medication to control their phosphate levels.1 Uncontrolled hyperphosphatemia is strongly associated with increased death and hospitalization for CKD patients on dialysis. Treatment of hyperphosphatemia is aimed at lowering serum phosphate levels via two means: (1) restricting dietary phosphorus intake; and (2) using, on a daily basis, and with each meal, oral phosphate binding drugs that facilitate fecal elimination of dietary phosphate rather than its absorption from the gastrointestinal tract into the bloodstream.

1Flythe JE. Dialysis-Past, Present, and Future: A Kidney360 Perspectives Series. Kidney360. 2023 May 1;4(5):567-568. doi: 10.34067/KID.0000000000000145. Epub 2023 Jun 29. PMID: 37229723; PMCID: PMC10371371.

About Unicycive Therapeutics
Unicycive Therapeutics is a biotechnology company developing novel treatments for kidney diseases. Unicycive’s lead investigational treatment is oxylanthanum carbonate, a novel phosphate binding agent for the treatment of hyperphosphatemia in patients with chronic kidney disease who are on dialysis. Unicycive’s second investigational treatment UNI-494 is intended for the treatment of conditions related to acute kidney injury. It has been granted orphan drug designation (ODD) by the FDA for the prevention of Delayed Graft Function (DGF) in kidney transplant patients and has completed a Phase 1 dose-ranging safety study in healthy volunteers.

Preliminary Financial Information
The preliminary financial information included in this press release is unaudited and is subject to completion of the Company’s quarter-end closing procedures and further financial review. Actual results may differ from these estimates as a result of the completion of quarter-end closing procedures, review adjustments and other developments that may arise between now and the time such financial information for the period is finalized. As a result, these estimates are preliminary, may change and constitute forward-looking information and, as a result, are subject to risks and uncertainties. These preliminary estimates should not be viewed as a substitute for full financial statements prepared in accordance with United States generally accepted accounting principles, and they should not be viewed as indicative of our results for any future period. The Company’s independent registered public accountants have not audited, reviewed, compiled, or performed any procedures with respect to these estimated financial results and, accordingly, do not express an opinion or any other form of assurance with respect to these preliminary estimates.

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 using words such as “anticipate,” “believe,” “forecast,” “estimated” and “intend” or other similar terms or expressions that concern Unicycive’s expectations, strategy, plans or intentions. These forward-looking statements are based on Unicycive’s current expectations and actual results could differ materially. There are several 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, clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results; our clinical trials may be suspended or discontinued due to unexpected side effects or other safety risks that could preclude approval of our product candidates; risks related to business interruptions, which could seriously harm our financial condition and increase our costs and expenses; dependence on key personnel; substantial competition; uncertainties of patent protection and litigation; dependence upon third parties; risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to our ability to file an NDA before the end of 2025, risk that we do not get a PDUFA date in the first half of 2026; the accuracy of our cash on hand at September 30, 2025 and risk that our cash runway does not extend into 2027. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Unicycive’s Annual Report on Form 10-K for the year ended December 31, 2024, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Unicycive specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Contacts:

Kevin Gardner
LifeSci Advisors
kgardner@lifesciadvisors.com

Media Contact:

Layne Litsinger
Real Chemistry
llitsinger@realchemistry.com

SOURCE: Unicycive Therapeutics, Inc.

Primary Logo

Source: Unicycive Therapeutics, Inc.

Released October 28, 2025

Release – Perfect Corp. Reports Unaudited Financial Results for the Three Months and the Nine Months Ended September 30, 2025

Posted on by aweinsoff@channelchek.com

Research News and Market Data on PERF

October 28, 2025

NEW YORK–(BUSINESS WIRE)– Perfect Corp. (NYSE: PERF) (“Perfect” or the “Company”), a leading artificial intelligence (“AI”) company offering AI and augmented reality (“AR”) powered solutions to beauty, fashion, photo and video creative industries, today announced its unaudited financial results for the three months ended September 30, 2025 and the nine months ended September 30, 2025.

Financial Results for the Three Months Ended September 30, 2025

Revenue

Total revenue was $18.7 million for the three months ended September 30, 2025, compared to $16.1 million in the same period of 2024, an increase of 15.7%. The increase was primarily due to strong growth momentum in the revenue of mobile app and web services subscriptions.

  • AI- and AR- cloud solutions and subscription revenue was $15.7 million for the three months ended September 30, 2025, compared to $13.4 million in the same period of 2024, an increase of 17.2%. The increase was driven by the continued revenue growth of YouCam mobile app and web services subscriptions, the growing popularity among consumers of Generative AI technologies and AI editing features for photos and videos, and the stable demand for the Company’s online virtual product try-on solutions from brand customers.
  • Licensing revenue was $2.2 million for the three months ended September 30, 2025, compared to $2.4 million in the same period of 2024, a decrease of 9.5%.

Gross Profit

Gross profit was $14.1 million for the three months ended September 30, 2025, compared with $13.0 million in the same period of 2024, an increase of 9.2%. Gross margin was 75.8% for the three months ended September 30, 2025, down from 80.3% in the same period of 2024. The decrease in gross margin was primarily due to the increase in AppStore and GooglePlay platform processing fees paid to digital distribution partners, such as Google and Apple, driven by the steady growth in our YouCam mobile app subscription revenue. In addition, the increases in AI server computing cost, resulting from the growing demand for premium features powered by generative AI photo and video services, also contributed to the decrease in gross margin.

Total Operating Expenses

Total operating expenses were $13.7 million for the three months ended September 30, 2025, compared with $13.0 million in the same period of 2024, an increase of 4.7%. The increase was primarily due to increases in sales and marketing expenses and research and development expenses, which were partially offset by a decrease in general and administrative expenses in the third quarter of 2025.

  • Sales and marketing expenses were $7.9 million for the three months ended September 30, 2025, compared to $7.1 million during the same period of 2024, an increase of 11.6%. This increase was primarily due to an increase in marketing events and advertising expenses related to our mobile apps and web services subscription.
  • Research and development expenses were $3.9 million for the three months ended September 30, 2025, compared to $3.2 million during the same period of 2024, an increase of 22.4%. The increase was caused by two main factors: (i) the continued foreign exchange impact caused by the depreciation of the U.S. dollar against New Taiwan dollar elevated personnel costs for our Taiwan-based development team, and (ii) the increase in research and development headcount and related compensation expenses following the acquisition of Wannaby Inc. (“Wannaby”) in the first quarter of 2025.
  • General and administrative expenses were $1.7 million for the three months ended September 30, 2025, compared to $2.1 million during the same period of 2024, a decrease of 18.2%. The decrease was primarily due to reduced corporate insurance premium and external professional service fees.

Operating Income/Loss

Total operating income were $0.5 million for the three months ended September 30, 2025, compared with an operating loss of $0.1 million in the same period of 2024, an increase of $0.6 million turning from a loss to an income position. The increase was primarily driven by higher revenue and gross profit, while operating expenses grew only modestly.

Net Income

Net income was $2.1 million for the three months ended September 30, 2025, compared to $2.5 million during the same period of 2024, a decrease of 17.9%. The decrease in net income was primarily due to (i) higher AppStore and GooglePlay platform processing fees, (ii) higher Taiwan personnel costs due to foreign exchange impact by a weaker U.S. dollar, (iii) increases in operating expenses after the acquisition of Wannaby, and (iv) lowered interest income due to decreases in interest rates on the Company’s cash reserve.

Beginning with the third quarter of 2025, we will no longer present adjusted net income (loss), as this metric is no longer utilized by our management to assess or evaluate our operating performance.

Operating Cash Flow

Operating cash flow was $2.8 million in the three months ended September 30, 2025, compared to $4.2 million in the same period of 2024, a decrease of 34.6%.

Financial Results for the Nine Months Ended September 30, 2025

Revenue

Total revenue was $51.0 million for the nine months ended September 30, 2025, compared to $44.3 million in the same period of 2024, an increase of 15.1%.

  • AI- and AR- cloud solutions and subscription revenue was $44.7 million for the nine months ended September 30, 2025, compared to $38.7 million in the same period of 2024, an increase of 15.4%. The increase was driven by the continued revenue growth of YouCam mobile apps and web services subscriptions.
  • Licensing revenue was $4.8 million for the nine months ended September 30, 2025, compared to $4.7 million in the same period of 2024, an increase of 1.0%.

Gross Profit

Gross profit was $38.9 million for the nine months ended September 30, 2025, compared with $35.2 million in the same period of 2024, an increase of 10.7%. Gross margin was 76.3% for the nine months ended September 30, 2025, slightly down from 79.4% in the same period of 2024.

Total Operating Expenses

Total operating expenses were $40.1 million for the nine months ended September 30, 2025, compared with $37.8 million in the same period of 2024, an increase of 5.9%. The increase was primarily due to increases in research and development and sales and marketing expenses, which were partially offset by a decrease in general and administrative expenses during the period.

  • Sales and marketing expenses were $23.1 million for the nine months ended September 30, 2025, compared to $21.3 million during the same period of 2024, an increase of 8.5%.
  • Research and development expenses were $11.5 million for the nine months ended September 30, 2025, compared to $9.2 million during the same period of 2024, an increase of 25.0%.
  • General and administrative expenses were $5.4 million for the nine months ended September 30, 2025, compared to $6.7 million during the same period of 2024, a decrease of 19.2%.

Operating Loss

Total operating loss were $1.1 million for the nine months ended September 30, 2025, compared with an operating loss of $2.7 million in the same period of 2024, a decrease of 57.7%. The decrease in operating loss was primarily driven by higher revenue and gross profit, while operating expenses grew only modestly.

Net Income

Net income was $4.6 million for the nine months ended September 30, 2025, compared to $3.9 million during the same period of 2024, an increase of 16.7%.

Operating Cash Flow

Operating cash flow was $10.8 million in the nine months ended September 30, 2025, compared to $9.8 million in the same period of 2024, an increase of 10.3%. The Company continues to invest in growth while maintaining a healthy cash flow to support business operations underscoring the Company’s operational health and sustainability.

Capital Resource

As of September 30, 2025, the Company’s cash and cash equivalents remained stable at $127.9 million (or $170.1 million when including 6-month time deposits of $36.3 million and money market funds of $5.9 million, which are classified as current financial assets at amortized cost and current financial assets at fair value through profit or loss under IFRS, respectively), compared to $127.1 million (or $165.9 million when including time deposits and money market funds) as of December 31, 2024.

Key Business Metrics

  • The number of active subscribers for the Company’s YouCam mobile apps and web services was 946,000 as of September 30, 2025, compared to over 960,000 as of June 30, 2025, a decrease of 1.5%. This slight decline was as a result of the mobile app subscription plan’s average selling price (“ASP”) increase initiative introduced in early 2025, which strategically prioritized higher revenue per user and long-term monetization efficiency over short-term volume growth.
  • As of September 30, 2025, the Company’s cumulative customer base included 842 brand clients, with over 953,000 digital stock keeping units (“SKUs”) for makeup, haircare, skincare, shoes, bags, eyewear, watches and jewelry products, compared to 818 brand clients and over 914,000 digital SKUs as of June 30, 2025. The number of Key Customers 1 of the Company as of September 30, 2025 was 142 compared to 139 as of June 30, 2025. The increase is mainly from acquisition of new customer in both makeup and skincare categories.

CEO Remarks and Business Outlook for 2025

Ms. Alice H. Chang, the Founder, Chairwoman, and Chief Executive Officer of Perfect commented, “Perfect Corp. continues to demonstrate steady revenue growth and resilience across its business segments. Our foundation remains strong, and our outlook for the future is bright, supported by ongoing AI innovation and expanding opportunities across both consumer and enterprise fronts. As we move through the remainder of 2025 and into 2026, our focus remains on driving sustainable growth through AI innovation and strategic diversification.

Since we founded Perfect Corp., we have always continued to reinvest in the growth of our products and new business. At the same time, we are striving to operate more efficiently and effectively with our work force. While we have consistently been net income positive, we achieved a milestone in the third quarter of 2025 by reaching operating profit for the first time, compared to operating losses in previous periods. As we align our budget for 2026, we remain focused on continuing to operate with profitability at the forefront.

Our B2C app and web service subscription business continues to show strong momentum, the revenue per user and user engagement continue to rise, validating the value of our premium AI-powered features and confirming the long-term health of our B2C business. We are witnessing a significant increase in user demand for AI-driven image and video generation, reflecting the accelerating shift toward creativity and personalization powered by AI. Building on this trend, we recently introduced new YouCam AI Agents designed to simplify and enhance the user experience.

YouCam AI Agent, a unified, conversational editor now available in YouCam PerfectandYouCam Makeup. By combining beauty styling, skin analysis, fashion try-ons, and pro-grade photo/video enhancement, the agent lets users describe the result they want and delivers fast, precise, studio-quality outputs in seconds. Powered by advanced vision-language AI and Perfect Corp.’s own leading beauty and fashion technologies, YouCam AI Agent sets a new benchmark for intuitive creativity—redefining everyday self-expression, beauty and style through a single, intelligent workflow.

At the core of our success lies the rapid adoption of generative AI in photo and video applications, which continues to be a key driver of both revenue growth and new subscriber acquisition. These technologies empower users to create photorealistic edits, immersive video effects, and personalized digital content that was once only achievable through professional tools—significantly broadening our appeal and deepening user engagement across the YouCam apps and web services ecosystem.

In parallel, our new application programming interface (API) business is gradually contributing to a new revenue stream. This offering allows third-party developers, agencies, and enterprise partners to integrate our proprietary AI, Generative AI, and AR technologies directly into their own ecosystems. We see tremendous potential in this channel to expand our product reach to a broader range of new clients and unlock new monetization opportunities through scalable, API-driven solutions.

Finally, our traditional B2B enterprise business in the beauty and fashion industries continues to navigate a challenging macroeconomic environment marked by cautious client spending and longer decision cycles. Nevertheless, Perfect Corp. remains the clear market leader in virtual try-on and AI beauty/fashion technology, maintaining deep partnerships with top global and luxury brands. As the luxury and beauty markets regain momentum, we believe Perfect Corp. is exceptionally well-positioned to capture the next wave of industry growth, supported by our proven technology leadership and trusted brand relationships.

Driven by steady revenue growth in both YouCam mobile apps and web service subscriptions, along with sustained demand for our enterprise SaaS solutions, the Company reaffirms its full-year 2025 revenue guidance of 13.0% to 14.5% year-over-year growth compared to 2024. This outlook reflects our most recent assessment of market conditions and internal performance trends and may be adjusted should conditions change.”

About Perfect Corp.

Founded in 2015, Perfect Corp. is a leading AI company offering self-developed AI- and AR- powered solutions dedicated to transforming the world with digital tech innovations that make your virtual world beautiful. On Perfect’s direct consumer business side, Perfect operates a family of YouCam consumer apps and web-editing services for photo, video and camera users, centered on unleashing creativity with AI-driven features for creation, beautification and enhancement. On Perfect’s enterprise business side, Perfect empowers major beauty, skincare, fashion, jewelry, and watch brands and retailers by supplying them with omnichannel shopping experiences through AR product try-ons and AI-powered skin diagnostics. With cutting-edge technologies such as Generative AI, real-time facial and hand 3D AR rendering and cloud solutions, Perfect enables personalized, enjoyable, and engaging shopping journey and helps brands elevate customer engagement, increase conversion rates, and propel sales growth. Throughout this journey, Perfect maintains its unwavering commitment to environmental sustainability and fulfilling social responsibilities. For more information, visit https://ir.perfectcorp.com/.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, or the Exchange Act, that are based on beliefs and assumptions and on information currently available to Perfect. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. These statements are based on Perfect’s reasonable expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Perfect’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Perfect to predict these events or how they may affect Perfect. In addition, risks and uncertainties are described in Perfect’s filings with the Securities and Exchange Commission. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Perfect cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks that Perfect presently does not know or that Perfect currently does not believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Perfect, its directors, officers or employees or any other person that Perfect will achieve its objectives and plans in any specified time frame, or at all. Except as required by applicable law, Perfect does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date of this communication. You should, therefore, not rely on these forward-looking statements as representing the views of Perfect as of any date subsequent to the date of this communication.

View full release here.

Investor Relations Contact
Investor Relations, Perfect Corp.
Email: Investor_Relations@PerfectCorp.com
Category: Investor RelationsSource: Perfect Corp.

Apple Hits $4 Trillion Milestone as iPhone 17 Sales Power Market Momentum

Posted on by slightbourne@noblecapitalmarkets.com

Apple has once again proven its staying power in the global tech landscape, briefly touching a $4 trillion market capitalization before pulling back slightly. The milestone underscores renewed investor optimism as strong early sales of the new iPhone 17 lineup signal that Apple’s growth engine remains alive and well.

According to data from Counterpoint Research, the iPhone 17 series outperformed its predecessor, the iPhone 16, during its first 10 days of release in both the U.S. and China—two of Apple’s most important markets. Year over year, iPhone sales surged 14%, with the base iPhone 17 and high-end iPhone 17 Pro drawing the most attention from consumers. The newly introduced iPhone Air also saw solid momentum, slightly outselling the discontinued iPhone Plus.

Apple’s stock climbed on the back of these strong figures, propelling its valuation into the $4 trillion club alongside fellow tech giants Nvidia and Microsoft. While Apple has flirted with this threshold before, the combination of resilient hardware demand and ongoing investor confidence helped push it back into record territory.

Still, not all analysts are convinced the sales surge will hold steady. Recent tracking from Jefferies suggests iPhone demand may be cooling slightly week over week, with delivery lead times shortening across major markets. In the U.S. and Europe, the once-long waits for iPhone 17 Pro and Pro Max models have largely disappeared, hinting that initial supply bottlenecks have eased.

Even so, Apple’s iPhone remains its crown jewel. The device generated $201.2 billion in revenue in 2024, more than half of the company’s total $391 billion. Its Services segment—covering everything from Apple TV+ to iCloud—added another $96.2 billion, showcasing the company’s ability to diversify beyond hardware.

Unlike Nvidia and Microsoft, whose valuations have surged on the strength of artificial intelligence development, Apple has taken a more measured approach. The company has yet to unveil its long-awaited AI-powered version of Siri, even as competitors like Google and Samsung continue to push forward with AI-enhanced products such as Gemini and Galaxy AI.

Despite that, Apple’s ecosystem remains unmatched. With over one billion active iPhones worldwide, along with a growing base of Apple Watch, AirPods, and service subscribers, the company benefits from an unparalleled level of customer loyalty. Each product launch not only drives revenue but reinforces a network of users deeply embedded in Apple’s ecosystem.

For investors, the story is clear: Apple may not be leading the AI revolution—yet—but its scale, cash flow, and brand strength continue to make it one of the most dependable growth stories in global markets. The $4 trillion mark is less about a temporary milestone and more about a company that continues to define what long-term market dominance looks like.

The Beachbody Company (BODI) – Strong Brands To Flex Toward Growth

Posted on by slightbourne@noblecapitalmarkets.com


Tuesday, October 28, 2025

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

Initiating with an Outperform rating. After years of revenue declines, we believe that the company is on the cusp of a swing toward revenue growth, offering a breakout opportunity for a stock that has been range-bound. We are initiating coverage with an Outperform rating and a $12 price target. 

Well-recognized brands with growth potential. The company has established brands in workout videos, such as Insanity and P90x, and nutritional supplements, including Shakeology, Beachbar, and Beachbody Performance. Such strong brands are expected to support the company’s revenue growth initiatives as it expands distribution of its products into mass merchants. 


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. 

Great Lakes Dredge & Dock (GLDD) – Some Debt Restructuring

Posted on by slightbourne@noblecapitalmarkets.com


Tuesday, October 28, 2025

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

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

Debt Restructuring. Yesterday, Great Lakes announced it completed an amendment to its existing Revolving Credit Facility, upsizing the facility by $100 million to $430 million and extending its maturity to October 2030 from June of 2029. We believe the expansion of Great Lakes’ revolving credit facility highlights the strength of the Company’s business and its credit profile.

Second Lien Payoff. Significantly, as part of this transaction, the Company utilized the increased revolver capacity to fully repay the $100 million second lien notes issued in 2024. This will save the Company some $6 million per year in interest expense. Great Lakes’ balance sheet remain solid, with no debt maturities until 2029 and a weighted average interest rate now under 6%.


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. 

Fed Poised to Cut Interest Rates Again Despite Data Blackout Amid Government Shutdown

Posted on by slightbourne@noblecapitalmarkets.com

The Federal Reserve is expected to lower interest rates again this week, even as policymakers navigate an unusually uncertain environment caused by the ongoing government shutdown. With most official economic data unavailable since early October, central bank officials are relying on private-sector reports and anecdotal evidence to guide their decision-making.

This marks the second rate cut of 2025, as the Fed continues to balance the dual challenges of cooling inflation and a weakening job market. The shutdown, which began on October 1, has halted the release of key reports, including the monthly jobs data that typically plays a pivotal role in shaping monetary policy. In the absence of those figures, alternative data sources from payroll processors and research firms suggest that hiring has slowed sharply, pointing to potential cracks in the labor market.

Private-sector reports indicate that U.S. employers reduced jobs in September, marking a significant shift from the steady gains earlier in the year. Sectors like healthcare continue to add positions, but most other areas — including manufacturing, construction, and retail — are showing signs of contraction. Economists believe this slowdown reflects weaker demand rather than a shortage of available workers, signaling that the broader economy may be cooling more rapidly than anticipated.

Adding to the complexity, inflation data remains mixed. The Consumer Price Index showed a slight decline in September, with core inflation rising 3% year over year, down from 3.1% the month prior. While the moderation in prices provides some relief, inflation still sits above the Fed’s 2% target. Economists warn that new tariffs and rising consumer costs could keep price pressures elevated in the months ahead, making it harder for policymakers to strike the right balance.

The Fed’s dilemma is compounded by growing signs of financial strain in certain lending markets. Losses in subprime auto loans and stress in commercial lending have raised concerns about the overall health of the financial system. While analysts don’t view these issues as systemic, they consider them early indicators that consumers and smaller banks are under pressure as growth slows.

Despite these warning signs, most analysts expect the Federal Open Market Committee (FOMC) to approve a 0.25% rate cut this week, bringing borrowing costs further down as part of a broader effort to support the labor market. Markets have already priced in another possible cut before year’s end, though the timing and extent of future moves will likely depend on when official government data becomes available again.

Fed Chair Jerome Powell has acknowledged that the lack of reliable data leaves policymakers in a difficult position, forcing them to rely on partial information and economic models to assess risks. With inflation easing slightly but employment softening, the central bank appears committed to erring on the side of supporting growth — even if that means acting with limited visibility.

The path ahead remains uncertain. If inflation stabilizes and job losses accelerate, the Fed may continue cutting rates into early 2026. But if inflation proves more persistent than expected, the central bank could be forced to pause its easing cycle sooner than markets anticipate. Either way, the current data blackout underscores how fragile the economic landscape remains — and how challenging it is for the Fed to steer policy when flying blind.

Release – Newsmax Signs Deal to Make Channel Available in 900+ Hotels, 300,000 Rooms Nationwide

Posted on by aweinsoff@channelchek.com

Research News and Market Data on NMAX

October 27, 2025

BOCA RATON, FL / ACCESS Newswire / October 27, 2025 / Newsmax Inc. (NYSE:NMAX) (“Newsmax” or the “Company”) today announced a new agreement with the leading provider of in-room entertainment for the hospitality industry that delivers the Newsmax channel to more than 900 hotels and 300,0000 hotel rooms across the U.S.

The agreement creates a new touchpoint for Newsmax, one of the top cable news channels, bringing the network’s 24/7 news coverage, analysis and programming directly to millions of hotel guests across the country.

“By expanding access to Newsmax in over 900 hotels, we’re not only ensuring that our viewers can stay tuned to Newsmax on the road but also growing awareness of the channel to millions of travelers every year who are looking for trusted, real-time news wherever they are,” Andy Biggers, SVP of Distribution at Newsmax.

This deal continues Newsmax’s strategic expansion across multiple platforms, including cable, streaming, OTT, and now, hospitality. With this move, Newsmax reinforces its presence as one of the fastest-growing news networks in America.

The Newsmax channel is available today on all major cable, satellite, and pay TV systems reaching about 60 million U.S. homes – on par with CNN, Fox and other major networks.

About Newsmax
Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation’s leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major pay TV providers. Newsmax’s media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax “a news powerhouse.”

Investor Contacts
Newsmax Investor Relations
ir@newsmax.com

SOURCE: Newsmax Inc.

View the original press release on ACCESS Newswire

Release – MAIA Biotechnology Presents Trial in Progress Poster at the 2025 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics

Posted on by aweinsoff@channelchek.com

Research News and Market Data on MAIA

October 27, 2025 10:45am EDT Download as PDF

First five patients in Part C (expansion) of THIO-101 Phase 2 clinical trial enrolled in Taiwan and Turkey

CHICAGO, Oct. 27, 2025 (GLOBE NEWSWIRE) — MAIA Biotechnology, Inc. (NYSE American: MAIA) (“MAIA”, the “Company”), a clinical-stage biopharmaceutical company focused on developing targeted immunotherapies for cancer, today announced its recent attendance at the 2025 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics. The Conference, held October 22-26, 2025, in Boston, MA, was hosted by the American Association for Cancer Research (AACR), the National Cancer Institute (NIC), and the European Organisation for Research and Treatment of Cancer (EORTC).

MAIA’s Sr. Medical Director, Victor Zaporojan, M.D., presented a Trial in Progress poster titled “A Phase 2 Study of Ateganosine (THIO; 6-thio-2′-deoxyguanosine) in Combination with Immune Checkpoint Inhibitor (ICI) in Patients with Advanced Non-Small Cell Lung Cancer (NSCLC) Resistant to Prior ICI and Chemotherapy: THIO-101 Trial in Progress.”

Dr. Zaporojan stated, “It was a pleasure to engage with many oncologists and scientists at the AACR-NCI-EORTC Conference and share updates from Part C of our expanded Phase 2 trial. As enrollment continues, we’re seeing a safety profile well aligned with Parts A and B, and momentum is building. Our expert investigators are eager to bring this opportunity to more patients in more countries as new sites come online in the weeks ahead.”

MAIA also announced that it has enrolled five patients from Taiwan and Turkey in the expansion phase of its THIO-101 Phase 2 trial. Screening for the trial is ongoing in Europe and Asia. With multi-continental trial locations, MAIA investigators can draw from a significantly larger patient pool for its third-line studies of ateganosine.

Dr. Saadettin Kiliçkap, Scientific Advisor to MAIA and key investigator for THIO-101 Part C in Turkey, commented, “It’s exciting to see ateganosine develop into what could be a promising treatment option for the large and underserved NSCLC patient population in our region. Lung cancer remains a major public health challenge here—it is the most common cancer and the leading cause of cancer-related death, particularly among men. While public health efforts have helped reduce incidence in men, rates among women continue to rise. Our medical community would welcome a breakthrough therapy that could meaningfully extend and improve the quality of life for patients with late-stage NSCLC.”

Dr. Kiliçkap has served as principal or sub-investigator in more than 100 national and international multi-center phase 2 and phase 3 clinical studies, many of which were related to lung cancer. His research focuses on medical oncology and cancer epidemiology, including solid tumors such as lung cancer, breast cancer, melanoma, and gastrointestinal system cancers, as well as targeted therapies and immunotherapy.

The high prevalence of smoking, compounded by air pollution, is the key driver of NSCLC in Turkey. A 2018 study reported that tobacco smoking accounted for 89.6% of lung cancer cases in Turkey.1 Subsequent research in 2019 suggested that prolonged exposure to ambient air pollution—particularly PM2.5 particulate matter—may have contributed to around 15% of lung cancer-related deaths, highlighting a significant additional risk when combined with smoking.2

MAIA’s Trial in Progress poster is available at maiabiotech.com/publications.

About Ateganosine

Ateganosine (THIO, 6-thio-dG or 6-thio-2’-deoxyguanosine) is a first-in-class investigational telomere-targeting agent currently in clinical development to evaluate its activity in non-small cell lung cancer (NSCLC). Telomeres, along with the enzyme telomerase, play a fundamental role in the survival of cancer cells and their resistance to current therapies. The modified nucleotide 6-thio-2’-deoxyguanosine induces telomerase-dependent telomeric DNA modification, DNA damage responses, and selective cancer cell death. Ateganosine-damaged telomeric fragments accumulate in cytosolic micronuclei and activates both innate (cGAS/STING) and adaptive (T-cell) immune responses. The sequential treatment of ateganosine followed by PD-(L)1 inhibitors resulted in profound and persistent tumor regression in advanced, in vivo cancer models by induction of cancer type–specific immune memory. Ateganosine is presently developed as a second or later line of treatment for NSCLC for patients that have progressed beyond the standard-of-care regimen of existing checkpoint inhibitors.

About THIO-101 Phase 2 Clinical Trial

THIO-101 is a multicenter, open-label, dose finding Phase 2 clinical trial. It is the first trial designed to evaluate ateganosine’s anti-tumor activity when followed by PD-(L)1 inhibition. The trial is testing the hypothesis that low doses of ateganosine administered prior to cemiplimab (Libtayo®) will enhance and prolong immune response in patients with advanced NSCLC who previously did not respond or developed resistance and progressed after first-line treatment regimen containing another checkpoint inhibitor. The trial design has two primary objectives: (1) to evaluate the safety and tolerability of ateganosine administered as an anticancer compound and a priming immune activator (2) to assess the clinical efficacy of ateganosine using Overall Response Rate (ORR) as the primary clinical endpoint. The expansion of the study will assess overall response rates (ORR) in advanced NSCLC patients receiving third line (3L) therapy who were resistant to previous checkpoint inhibitor treatments (CPI) and chemotherapy. Treatment with ateganosine followed by cemiplimab (Libtayo®) has shown an acceptable safety profile to date in a heavily pre-treated population. For more information on this Phase II trial, please visit ClinicalTrials.gov using the identifier NCT05208944.

About MAIA Biotechnology, Inc.

MAIA is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer. Our lead program is ateganosine (THIO), a potential first-in-class cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.

Forward Looking Statements

MAIA cautions that all statements, other than statements of historical facts contained in this press release, are forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels or activity, performance or achievements to be materially different from those anticipated by such statements. The use of words such as “may,” “might,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify forward looking statements. However, the absence of these words does not mean that statements are not forward-looking. For example, all statements we make regarding (i) the initiation, timing, cost, progress and results of our preclinical and clinical studies and our research and development programs, (ii) our ability to advance product candidates into, and successfully complete, clinical studies, (iii) the timing or likelihood of regulatory filings and approvals, (iv) our ability to develop, manufacture and commercialize our product candidates and to improve the manufacturing process, (v) the rate and degree of market acceptance of our product candidates, (vi) the size and growth potential of the markets for our product candidates and our ability to serve those markets, and (vii) our expectations regarding our ability to obtain and maintain intellectual property protection for our product candidates, are forward looking. All forward-looking statements are based on current estimates, assumptions and expectations by our management that, although we believe to be reasonable, are inherently uncertain. Any forward-looking statement expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and are subject to risks and uncertainties and other factors beyond our control that may cause actual results to differ materially from those expressed in any forward-looking statement. Any forward-looking statement speaks only as of the date on which it was made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. In this release, unless the context requires otherwise, “MAIA,” “Company,” “we,” “our,” and “us” refers to MAIA Biotechnology, Inc. and its subsidiaries.

Investor Relations Contact
+1 (872) 270-3518
ir@maiabiotech.com

1 Tobacco Induced Diseases, 14th Annual Conference of the International Society for the Prevention of Tobacco Induced Diseases (TID)
2 Department of Public Health, Trakya University, Faculty of Medicine, Türkiye

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Source: MAIA Biotechnology, Inc.

Released October 27, 2025

Novartis’ $12 Billion Avidity Acquisition Strengthens Its Rare Disease Pipeline Amid Pharma Tariff Uncertainty

Posted on by slightbourne@noblecapitalmarkets.com

Swiss pharmaceutical giant Novartis AG announced plans to acquire Avidity Biosciences for approximately $12 billion in cash, a move aimed at deepening its focus on rare and neuromuscular diseases while navigating an increasingly complex U.S. trade and regulatory landscape.

Under the terms of the agreement, Avidity shareholders will receive $72 per share, representing a 46% premium to the company’s most recent closing price. The acquisition, expected to close later this year pending regulatory approval, underscores Novartis’ aggressive strategy to expand its biotech capabilities and offset upcoming patent expirations on several of its blockbuster therapies.

The deal also includes the formation of a new spin-off company, Spinco, which will house Avidity’s early-stage precision cardiology programs. Spinco is expected to operate as an independent, publicly traded firm, led by Avidity’s current Chief Program Officer, Kathleen Gallagher.

Headquartered in San Diego, Avidity Biosciences has gained attention for pioneering a new class of RNA-based therapeutics that directly target muscle tissue. Its lead candidate, Del-zota, is being developed to treat a rare subtype of Duchenne muscular dystrophy (DMD), a debilitating genetic disorder that leads to progressive muscle weakness. Avidity is also advancing two other promising treatments for serious neuromuscular diseases, all of which leverage its proprietary antibody oligonucleotide conjugate (AOC) platform.

For Novartis, this acquisition offers a timely expansion into rare disease treatments — a sector experiencing growing investor interest due to high unmet medical needs and favorable regulatory incentives. The move is consistent with Novartis’ 2024 acquisition of Kate Therapeutics, another biotech developing gene therapies for muscle diseases, as well as its 2025 deals with Anthos Therapeutics and Regulus Therapeutics, collectively strengthening its position in genetic and cardiovascular medicine.

The rare disease market has become an increasingly competitive frontier for pharmaceutical innovation. Analysts note that Novartis’ acquisition spree is partly driven by its looming patent cliff, as flagship drugs such as Entresto, Xolair, and Cosentyx approach the end of their exclusivity periods. By acquiring companies like Avidity, Novartis not only diversifies its revenue base but also positions itself at the forefront of next-generation therapeutics that could define the next decade of biotech innovation.

The acquisition also carries strategic geopolitical undertones. With the Trump administration imposing 39% tariffs on Switzerland earlier this year, Swiss-based pharmaceutical companies face heightened uncertainty over U.S. trade policy. Expanding operations through American biotech acquisitions helps Novartis maintain a strong U.S. presence and mitigate risks tied to international tariffs.

For small-cap investors, the transaction reinforces an ongoing trend in the life sciences sector: large-cap pharma companies are increasingly looking to buy innovation rather than build it in-house. Early-stage biotech firms with validated technologies, particularly in RNA, gene therapy, and rare disease research, continue to attract premium valuations in acquisition deals.

Ultimately, Novartis’ acquisition of Avidity Biosciences is more than just a growth strategy — it’s a signal of where the pharmaceutical industry is heading. With advances in RNA therapeutics and genetic medicine accelerating, investors can expect more high-value takeovers in the months ahead as established players race to secure the next generation of life-changing treatments.

Release – Kratos Forms Strategic Partnership with Korean Industry Leader to Advance Manned-Unmanned Teaming

Posted on by aweinsoff@channelchek.com

Research News and Market Data on KTOS

October 27, 2025

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SAN DIEGO, Oct. 27, 2025 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading technology company in the defense, national security, and global markets, today announced the formation of a strategic partnership with Korea Aerospace Industries (KAI), a major Korean defense organization to advance Manned-Unmanned Teaming (MUM-T) technologies and capabilities.

The collaboration builds on Kratos’ deep experience in affordable, high-performance tactical unmanned aerial systems—including the XQ-58A Valkyrie, Mako, and Tactical Firejet—and KAI’s aerospace technologies. Together, the organizations will work to integrate complementary systems and expertise to accelerate the development of interoperable, next-generation MUM-T solutions that enhance joint force readiness and operational flexibility.

“This partnership represents the next step in evolving how crewed and uncrewed aircraft operate together in contested environments,” said Steve Fendley, President of Kratos’ Unmanned Systems Division. “By combining Kratos’ proven autonomous jet systems with KAI’s advanced technologies, we are expanding the boundaries of affordable mass and collaborative combat capability for U.S. and allied forces.”

“Kratos has long believed that strategic international partnerships are key to ensuring readiness and deterrence through innovation,” said Eric DeMarco, President and CEO of Kratos. “Our collaboration with KAI, a world-class Korean organization, underscores our shared commitment to developing advanced, interoperable defense technologies that strengthen allied capability, resilience, and industrial cooperation.”

The strategic partnership will focus on joint research, system integration, and evolution of scalable MUM-T applications, including autonomous loyal wingmen, distributed sensing, and collaborative strike missions, all focused on affordable mass. Kratos and KAI will also evaluate opportunities for technology co-development, production, and export in alignment with U.S. and allied defense requirements.

About Kratos Defense & Security Solutions, Inc. 
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value-add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 29, 2024, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Cantrell
claire.cantrell@kratosdefense.com

Investor Information:
877-934-4687
investor@kratosdefense.com

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Source: Kratos Defense & Security Solutions, Inc.