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.
FY 2027 First Quarter Financial Results. AZZ reported adjusted net income of $55.8 million, or $1.85 per share, compared to $53.8 million, or $1.78 per share, during the prior year period. We had forecast adjusted net income of $51.4 million or $1.70 per share. Compared to the first quarter of FY 2026, sales increased 6.3% to $448.5 million. Adjusted EBITDA amounted to $99.5 million compared to our estimate of $96.8 million. Compared to the prior year period, first quarter Metal Coatings sales were up 12.3% to $210.3 million, while Precoat Metal sales increased 1.5% to $238.2 million. First quarter segment adjusted EBITDA margin amounted to 30.3% for Metal Coatings and 21.7% for Precoat Metals.
FY 2027 Corporate Guidance. Management now expects FY 2027 sales in the range of $1.80 to $1.85 billion, compared to previous expectations of $1.725 to $1.775 billion. Adjusted EBITDA is expected to be in the range of $375 to $415 million, compared to prior guidance of $360 to $400 million. Adjusted EPS is now projected to be $6.75 to $7.15 versus prior expectations of $6.50 to $7.00.
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The Russell 2000 has gained 33.8% over the past twelve months, comfortably beating the S&P 500’s 20% return, and just posted its best first-half performance since 1991. That’s the headline every small-cap investor has been celebrating. The number underneath it tells a different story.
Interest expense now consumes 31% of EBITDA for companies in the Russell 2000, the heaviest debt-servicing burden these companies have carried in at least six years. Nearly 30% of small-cap corporate debt sits on floating rates, meaning it resets with whatever the Federal Reserve does next rather than staying locked in at yesterday’s borrowing costs. By comparison, floating-rate debt makes up only about 7% of S&P 500 balance sheets, and large-cap interest expense sits at just 6.7% of EBITDA. Small caps have always carried more leverage relative to earnings than their large-cap counterparts. What’s changed is how expensive that leverage has become to service, and how much more exposed small caps are to the Fed’s next move than the rest of the market.
The mechanics here matter more for small caps than almost anywhere else in the market. Large-cap companies tend to term out their debt for years at fixed rates and carry investment-grade credit ratings that keep borrowing costs manageable even when the Fed holds rates higher for longer. Small caps don’t have that luxury. They borrow shorter, they borrow at higher spreads to begin with, and a much larger share of that borrowing floats with prevailing rates. When the Fed moves, small-cap balance sheets feel it first and feel it hardest.
That’s exactly why this rally has been happening in a market environment that should, in theory, be working against it. The Fed under Chair Kevin Warsh has taken a notably hawkish posture this year, and traders have spent recent months pricing in the possibility of an actual rate increase rather than the cuts most investors expected heading into 2026. Small caps have rallied anyway, which tells you the earnings growth story has been strong enough to outrun the rate pressure so far.
The risk is what happens if that earnings momentum slows while rates stay elevated or move higher. A company with debt priced at a wide spread over a floating benchmark doesn’t get relief just because its revenue is growing. If margins compress at all, from wage inflation, input costs, or slowing demand, the interest bill doesn’t shrink to match. It’s the same amount of debt service pulled from a smaller pool of operating income, and at 31% of EBITDA already, there isn’t a lot of room to absorb a shock before it starts showing up in earnings per share. Nearly 40% of Russell 2000 companies are already unprofitable, which leaves a meaningful chunk of the index with even less cushion.
The Fed’s next meeting lands July 28-29, and it’s arguably a more important date for small-cap investors than for the broader market. A hold or a dovish tone gives the current rally room to keep running. A hike, or even language that keeps a hike on the table for the fall, tightens the exact pressure point that’s already the most fragile part of the small-cap balance sheet. For anyone riding this year’s small-cap strength, the momentum is real, but so is the leverage sitting underneath it.
Record Quarterly Sales in Both Segments Drives EPS, Cash Flow and Value Creation Raising Fiscal Year 2027 Guidance
FORT WORTH, Texas, July 8, 2026 /PRNewswire/ — AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced financial results for the first quarter ended May 31, 2026.
Fiscal Year 2027 First Quarter Overview (as compared to prior fiscal year first quarter(1)):
Total Sales of $448.5 million, up 6.3%
Metal Coatings sales of $210.3 million, up 12.3%
Precoat Metals sales of $238.2 million, up 1.5%
Net Income of $52.0 million, down 69.6%; prior year results were meaningfully impacted by equity in earnings from our minority interest in the AVAIL JV related to the sale of the Electrical Products Group to nVent Electric plc; Adjusted net income of $55.8 million, up 3.6%
GAAP diluted EPS of $1.72 per share, down 69.6% due to equity in earnings from the AVAIL JV as mentioned above; Adjusted diluted EPS of $1.85, up 3.9%
Consolidated Adjusted EBITDA of $99.5 million, or 22.2% of sales, versus prior year of $106.4 million, or 25.2% of sales; prior year Q1 included $7.7 million equity in earnings(2) from AVAIL JV operations
Segment Adjusted EBITDA margin of 30.3% for Metal Coatings and 21.7% for Precoat Metals
Cash flow from operations of $37.1 million
Cash dividend of $0.20 per share to common shareholders paid during the quarter, recently announced 20% increase in dividend to $0.24 per share
Net leverage ratio of 1.4x
(1) Adjusted Net Income, Adjusted EPS, Adjusted EBITDA, and net leverage ratio are non-GAAP financial measures as defined and reconciled in the tables below.
(2) Excludes $165.8 million of the $173.5 million of equity in earnings from the AVAIL JV that is included in prior year Q1 GAAP net income.
Tom Ferguson, President, and Chief Executive Officer of AZZ, commented, “We are off to a great start in the fiscal year as sales grew to $448.5 million, up 6.3% over the prior year quarter. Our sales momentum and disciplined operational execution resulted in Adjusted EBITDA of $99.5 million, or 22.2% of sales, which generated adjusted diluted EPS of $1.85, up 3.9%. Metal Coatings achieved strong, double-digit sales gains on higher volume of galvanized steel. Meanwhile, Precoat Metals reached record first-quarter sales, fueled by a combination of price increases to offset materials and input cost inflation and the ongoing production ramp-up at the Washington, Missouri facility. We are on track to set new sales and profitability records in fiscal year 2027 due to external market visibility as we continue to execute our strategic plans; therefore, we have increased our annual guidance range.”
“We ended the quarter with a strong balance sheet and low net debt leverage of 1.4x, providing meaningful financial flexibility as we progress through the year. In the first quarter, we generated $37.1 million in cash from operations and will remain focused on disciplined management of working capital, capital expenditures, and debt throughout the fiscal year. Driven by a proven strategy and disciplined approach to M&A, we are actively pursuing an expanding pipeline of high-quality acquisition targets that will contribute to long-term shareholder value. Finally, I want to thank our AZZ employees as I am proud to work with such a talented group that incorporates pride and passion in everything they do,” Ferguson concluded.
Segment Performance First Quarter2027Metal Coatings Sales of $210.3 million increased by 12.3% over the first quarter of last year, primarily due to increased volume supported by project spending in several end markets, including construction, industrial, and infrastructure. Segment Adjusted EBITDA of $63.8 million resulted in Adjusted EBITDA margin of 30.3%, a decrease of 260 basis points from the prior year first quarter due to the sale of land in the prior year quarter and share growth in large projects this year.
First Quarter2027 Precoat Metals Sales of $238.2 million increased by 1.5% compared to the first quarter of last year, primarily due to increased sales from the Washington, Missouri facility and the pass-through of higher paint and input costs, partially offset by lower volume due to decreases in construction, infrastructure, HVAC and appliance end markets. Segment EBITDA of $51.8 million resulted in EBITDA margin of 21.7%, an increase of 100 basis points from the prior year first quarter, primarily due to higher sales.
Balance Sheet, Liquidity and Capital Allocation The Company generated operating cash of $37.1 million for the first three months of fiscal year 2027 through improved earnings, coupled with a continued focus on working capital management. At the end of the first quarter, the Company’s net leverage was 1.4x trailing twelve months Adjusted EBITDA. During the first three months of fiscal year 2027, the Company made no debt repayments and returned cash to common shareholders through cash dividend payments totaling $6.0 million. Capital expenditures for the first three months of fiscal year 2027 were $18.7 million, and full fiscal year capital expenditures are expected to be approximately $80 – $100 million.
Financial Outlook — Raising Fiscal Year 2027 Guidance We are raising our fiscal year guidance for the year ending February 28, 2027, which reflects our confidence in the Company’s strategic execution, operational resilience, and market positioning. Fiscal year 2027 guidance reflects our best estimates given expected market conditions for the full year, an annualized effective tax rate of 25% and excludes M&A activity and any federal regulatory changes that may emerge.
PriorFY2027 Guidance(1)
RevisedFY2027 Guidance(1)
Sales
$1.725 – $1.775 billion
$1.80 – $1.85 billion
Adjusted EBITDA
$360 – $400 million
$375 – $415 million
Adjusted Diluted EPS
$6.50 – $7.00
$6.75 – $7.15
(1) FY2027 Guidance Assumptions:
a.
The newly built Washington, Missouri plant is expected to be accretive to earnings in FY2027.
b.
Capital expenditures are expected to be approximately $80 to $100 million, reflecting an increase in growth capital for hot-dip galvanizing capacity expansions and technology improvements for both Metal Coatings and Precoat Metals.
c.
Interest expense is expected to be $35 to $45 million.
d.
The annualized effective tax rate of 25% excludes federal regulatory changes that may emerge.
e.
Debt reduction in the range of $130 to $170 million.
f.
Adjusted Diluted EPS guidance includes adding back amortization related to the Company’s intangible assets, adjustments related to the AVAIL JV and debt financing costs related to the refinancing of the Company’s Revolving Credit Facility.
g.
Excludes all potential M&A activities.
h.
Excludes the potential for equity in income (or loss) and cash distributions from AZZ’s minority interest in its unconsolidated subsidiary.
Conference Call Details AZZ Inc. will conduct a live conference call with Tom Ferguson, Chief Executive Officer, Jason Crawford, Chief Financial Officer, and David Nark, Chief Marketing, Communications, and Investor Relations Officer to discuss financial results for the first quarter of the fiscal year 2027, Thursday, July 9, 2026, at 11:00 A.M. ET. Interested parties can access the conference call by dialing (844) 855-9499 or (412) 317-5497 (international). A webcast of the call will be available on the Company’s Investor Relations page at http://www.azz.com/investor-relations.
A replay of the call will be available at (855) 669-9658 or (412) 317-0088 (international), replay access code: 5406597 through July 16, 2026, or by visiting http://www.azz.com/investor-relations for the next 12 months.
About AZZ Inc. AZZ Inc. is the leading independent provider of hot-dip galvanizing and coil coating solutions to a broad range of end-markets in North America. Collectively, our business segments provide sustainable, unmatched metal coating solutions that enhance the longevity and appearance of buildings, products and infrastructure that are essential to everyday life.
Safe Harbor Statement Certain statementsherein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as “may,” “could,” “should,” “expects,” “plans,” “will,” “might,” “would,” “projects,” “currently,” “intends,” “outlook,” “forecasts,” “targets,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial, and economic data and management’s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Forward-looking statements speak only as of the date they are made and are subject to risks that could cause them to differ materially from actual results. Certain factors could affect the outcome of the matters describedherein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our manufactured solutions, including demand by the construction; infrastructure; transportation; HVAC & appliance; container; and the metal coatings end markets. We could also experience additional increases, including increases due to inflation, in labor costs, components and raw materials including zinc and natural gas, which are used in our hot-dip galvanizing process and paint used in our coil coating process; supply chain vendor delays; delays in additional acquisition opportunities; an increase in our debt leverage and/or interest rates on our debt, of which a significant portion is tied to variable interest rates; availability of experienced management and employees to implement AZZ’s growth strategy; a downturn in market conditions in any industry relating to the manufactured solutions that we provide; economic volatility, including a prolonged economic downturn or macroeconomic conditions such as inflation or changes in the political stability in the United States or Canada; tariffs, acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions. AZZ has provided additional information regarding risks associated with the business, including in Part I, Item 1A. Risk Factors, in AZZ’s Annual Report on Form 10-K for the fiscal year ended February28, 2026, and other filings with the SEC, available for viewing on AZZ’s website at www.azz.com and on the SEC’s website at www.sec.gov. You are urged to consider these factors carefully when evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the datehereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Company Contact: David Nark, Chief Marketing, Communications, and Investor Relations Officer AZZ Inc. (817) 810-0095 www.azz.com
Investor Contact: Sandy Martin / Phillip Kupper Three Part Advisors (214) 616-2207 or (817) 368-2556 www.threepa.com
90.5% interim disease control rate (DCR) observed with combination therapy
Initial Part C efficacy observations align with previously reported THIO-101 clinical activity despite a more heavily pre-treated patient population
CHICAGO, July 08, 2026 (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 positive initial efficacy data from its Phase 2 THIO-101 clinical trial expansion, Part C, evaluating its lead candidate, ateganosine, a dual mechanism of action drug incorporating telomere targeting and immunogenicity, as a third-line (3L) therapy for patients with advanced non-small cell lung cancer (NSCLC).
Initial data from the THIO-101 Part C 3L studies1 show a disease control rate (DCR) of 90.5% (19 out of 21 patients) in the efficacy evaluable population who had at least one tumor scan after starting treatment. Patients are treated with ateganosine followed by cemiplimab (Libtayo®) in cycles of 21 days. Current chemotherapy treatments deliver an approximate 25-35% disease control rate.2
“The initial efficacy data from the Part C studies are consistent with the encouraging efficacy signals we previously reported for Parts A and B of THIO-101, including an 88% disease control rate in third-line NSCLC patients. This measure of efficacy is close to triple the reported outcome for standard-of-care chemotherapy treatment,” said Vlad Vitoc, Founder and Chief Executive Officer of MAIA Biotechnology. “Importantly, patients enrolled in Part C of our trial represent a more heavily pre-treated population, with all patients having previously received docetaxel in addition to demonstrating resistance to both immunotherapy and other chemotherapies.”
MAIA recently announced that it has completed international enrollment in Part C of the Phase 2 THIO-101 expansion trial. Treatment with ateganosine followed by cemiplimab has shown an acceptable safety profile to date in a heavily pre-treated population.
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.
Two small-cap biotechs are betting that artificial intelligence can succeed where a decade of drug development has stalled. Chemomab Therapeutics (Nasdaq: CMMB) and Scipher Medicine announced this morning that they have entered into a definitive merger agreement, combining Chemomab’s clinical-stage antibody nebokitug with Scipher’s AI-powered precision medicine platform to attack rheumatoid arthritis from a completely different angle than anything currently on the market.
The numbers explain why this matters. No new mechanism of action has been approved for rheumatoid arthritis since 2012, and no new branded therapy has reached the market since 2019. Only about a third of RA patients achieve low disease activity on current treatments, and the two leading drug classes now carry FDA boxed warnings. It’s a $24 billion market that has effectively been standing still for over a decade while patients cycle through drugs that only partially work.
Chemomab’s contribution is nebokitug, a first-in-class antibody that blocks CCL24, a protein tied to both inflammation and fibrosis. That dual mechanism is the differentiator. Most RA drugs on the market today only address inflammation, leaving the fibrotic, tissue-scarring side of the disease untouched. Nebokitug has already produced positive results across five clinical trials, including a Phase 2 study in primary sclerosing cholangitis that hit its safety endpoint and improved a range of fibrosis-related markers.
Scipher brings the half of the equation that makes this deal genuinely interesting. The company’s AI Network Medicine platform independently ranked CCL24 as the top therapeutic target for RA, arriving at the same conclusion Chemomab had reached through years of bench research, but from a completely different direction. Scipher also owns PrismRA, the only rheumatoid arthritis test with Medicare and Medicaid reimbursement approval for predicting how a patient will respond to treatment. That test will be used to select patients for the upcoming Phase 2 trial, meaning the study isn’t just testing whether nebokitug works. It’s testing whether AI-selected patients respond better than an unselected population, which is precisely the kind of precision-medicine proof point regulators and physicians have been waiting for.
Under the deal terms, the combined company will operate as Scipher Medicine Corporation and trade under the ticker SCIP. Scipher shareholders will hold roughly 68% of the combined entity, with Chemomab shareholders holding about 32% plus contingent value rights tied to nebokitug milestones. A syndicate led by Northpond Ventures, with Khosla Ventures, Blue Owl Healthcare Opportunities, and Neuberger funds participating, is putting in $30 million to fund the combined company. That capital, together with existing cash, is expected to carry operations into the second half of 2028, well past the Phase 2 readout expected in the first half of that year.
The deal values the combined company at $150 million before the new financing, a modest figure for a company sitting on a potential first-in-market precision medicine therapy for a disease affecting more than 20 million people worldwide. Scipher also brings existing revenue through biopharma partnerships and its immunology data business, giving the combined company more than one path to funding its pipeline while the RA trial plays out.
The transaction still needs shareholder approval from both companies and an SEC-cleared S-4 registration statement, with closing targeted for the fourth quarter of 2026.
SHELTON, CT / ACCESS Newswire / July 8, 2026 / NanoViricides, Inc. (NYSE American:NNVC) (the “Company”), a clinical stage leader developing antiviral drugs that viruses cannot escape, reports that a Coverage Initiating Research Report on the Company by an Independent Analyst has been published, dated as of July 6, 2026.
The report rates the Company with a rating of “Outperform” and has assigned a target price of $6.00, based on the analyst’s estimates. This research report provides a summary of the Company’s current programs, as well as additional longer term programs. The report was written by Mr. Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc. The report and additional coverage of the Company is available at channelchek.com. The report is also available at the Company’s website, nanoviricides.com .
The Company provided publicly available information to the Analyst, and also provided answers to questions of a technical nature, as is typical. All estimates of timelines, financial projections and modeling, etc. were made independently by the Analyst. The Company does not provide guidance on its timelines or revenues, profit or loss projections, nor does it review or have any input into the independent assessments.
The Company has retained Noble Capital as part of its investor outreach program. No part of the Analyst’s compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public appearance and/or research report. All views expressed in this report accurately reflect the Analyst’s personal views about the subject securities or issuers. This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs.
In a separate update, NanoViricides reports that Anil R. Diwan, PhD, the Company’s President and Executive Chairman was interviewed in a “Fireside Chat” by host Mr. Dave Donlin. This video interview was published by StockInvestor Daily under the IPO-Edge program on June 29, 2026 and is available at https://ipo-edge.com/replay-fireside-chat-with-nanoviricides-president-exec-chairman-anil-r-diwan/. The video is also available on the Company’s website (nanoviricides.com). The video provides information on the Company’s technology, how it is differentiated from current approaches, and the current programs.
In this Fireside Chat, Dr. Diwan discussed:
How NanoViricides’ broad-spectrum antiviral drugs like its lead drug NV-387 work alongside vaccines.
NanoViricides advancing a broad-spectrum antiviral approach that will be effective even against variants with its lead drug NV-387; how this differs from current antivirals in treating viral diseases like RSV and FLU.
The company’s Orphan Drug Designation granted by the FDA and its filing for Rare Pediatric Disease Designation for Measles; how the Company benefits from these designations and the upcoming potential funding benefits.
The resurgence of Measles despite having a vaccine in place and how it has caused epidemics in Europe, Canada, Mexico, and Bangladesh, while also making headlines in the U.S. Why this is happening and what this return tell us about current protection against viral diseases that are thought to be eliminated by vaccines.
The resurgence of several viral infections globally, like Monkeypox and Ebola, and the WHO declaring global alerts as diseases come back with new virus variants for which there is no vaccine or treatment, and how NanoViricides can help.
NanoViricides, Inc. (the “Company”) (www.nanoviricides.com) is a clinical stage company that is creating special purpose nanomaterials for antiviral therapy. The Company’s novel nanoviricide™ class of drug candidates and the nanoviricide™ technology are based on intellectual property, technology and proprietary know-how of TheraCour Pharma, Inc. The Company has a Memorandum of Understanding with TheraCour for the development of drugs based on these technologies for all antiviral infections. The MoU does not include cancer and similar diseases that may have viral origin but require different kinds of treatments.
The Company has obtained broad, exclusive, sub-licensable, field licenses to drugs developed in several licensed fields from TheraCour Pharma, Inc. The Company’s business model is based on licensing technology from TheraCour Pharma Inc. for specific application verticals of specific viruses, as established at its foundation in 2005.
Our lead drug candidate is NV-387, a broad-spectrum antiviral drug that we plan to develop as a treatment of RSV, COVID, Long COVID, Influenza, and other respiratory viral infections, as well as MPOX/Smallpox infections. Our other advanced drug candidate is NV-HHV-1 for the treatment of Shingles. The Company cannot project an exact date for filing an IND for any of its drugs because of dependence on a number of external collaborators and consultants. The Company is currently focused on advancing NV-387 into Phase II human clinical trials.
NV-CoV-2 (API NV-387) is our nanoviricide drug candidate for COVID-19 that does not encapsulate remdesivir. NV-CoV-2-R is our other drug candidate for COVID-19 that is made up of NV-387 with remdesivir encapsulated within its polymeric micelles. The Company believes that since remdesivir is already US FDA approved, our drug candidate encapsulating remdesivir is likely to be an approvable drug, if safety is comparable. Remdesivir is developed by Gilead. The Company has developed both of its own drug candidates NV-CoV-2 and NV-CoV-2-R independently.
The Company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. NanoViricides’ platform technology and programs are based on the TheraCour® nanomedicine technology of TheraCour, which TheraCour licenses from AllExcel. NanoViricides holds a worldwide exclusive perpetual license to this technology for several drugs with specific targeting mechanisms in perpetuity for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Rabies, Herpes Simplex Virus (HSV-1 and HSV-2), Varicella-Zoster Virus (VZV), Influenza and Asian Bird Flu Virus, Dengue viruses, Japanese Encephalitis virus, West Nile Virus, Ebola/Marburg viruses, and certain Coronaviruses. The Company intends to obtain a license for RSV, Poxviruses, and/or Enteroviruses if the initial research is successful. As is customary, the Company must state the risk factor that the path to typical drug development of any pharmaceutical product is extremely lengthy and requires substantial capital. As with any drug development efforts by any company, there can be no assurance at this time that any of the Company’s pharmaceutical candidates would show sufficient effectiveness and safety for human clinical development. Further, there can be no assurance at this time that successful results against coronavirus in our lab will lead to successful clinical trials or a successful pharmaceutical product.
This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by NanoViricides, Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company’s expectations include, but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Although it is not possible to predict or identify all such factors, they may include the following: demonstration and proof of principle in preclinical trials that a nanoviricide is safe and effective; successful development of our product candidates; our ability to seek and obtain regulatory approvals, including with respect to the indications we are seeking; the successful commercialization of our product candidates; and market acceptance of our products.
The phrases “safety”, “effectiveness” and equivalent phrases as used in this press release refer to research findings including clinical trials as the customary research usage and do not indicate evaluation of safety or effectiveness by the US FDA.
FDA refers to US Food and Drug Administration. IND application refers to “Investigational New Drug” application. cGMP refers to current Good Manufacturing Practices. CMC refers to “Chemistry, Manufacture, and Controls”. CHMP refers to the Committee for Medicinal Products for Human Use, which is the European Medicines Agency’s (EMA) committee responsible for human medicines. API stands for “Active Pharmaceutical Ingredient”. WHO is the World Health Organization. R&D refers to Research and Development.
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.
First Raise. Commercial Vehicle Group reported that it has made the first raise under the recently announced $25 million Capital on Demand agreement. As of June 29, 2026, the Company had sold 2.6 million shares of common stock in the ATM Program, generating net proceeds of approximately $11.6 million.
Use of Proceeds. As required by the Company’s secured term loan facility, all net proceeds were used by the Company to pay down outstanding indebtedness and the associated prepayment premium under the facility. As we noted previously, as of June 17, 2026, outstanding indebtedness under the Term Loan was $80 million. The Term Loan matures in June 2030 with a current interest rate of 13.47%. Any reduction in the outstanding loan balance is a positive for the Company, in our view, not only reducing high-cost debt but also eventually providing additional financial flexibility.
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.
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.
Commercial momentum. FreightCar America secured a multi-year order for 1,900 railcars from a key customer, with deliveries scheduled through 2028. Combined with approximately 3,000 railcars ordered during the second quarter valued at roughly $300 million, the multi-year order highlights strong commercial demand and improves long-term backlog visibility.
Broad Customer Demand. Second quarter orders were received across all core market segments and included both new and existing customers, demonstrating the company’s expanding commercial reach and diversified product portfolio. The order activity reflects growing confidence in RAIL’s engineering expertise, manufacturing flexibility, and ability to execute reliably.
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.
Ecolab just paid $4.75 billion in cash for a Calgary-based company most investors have never heard of, and that single transaction tells you more about where AI infrastructure spending is headed than almost anything happening in chips right now.
The March 2026 acquisition of CoolIT Systems came at a price of 29 times next-twelve-months adjusted EBITDA. That is not the kind of multiple a serious industrial buyer pays on a whim. It’s a signal that liquid cooling has moved from a nice-to-have into a required piece of the AI data center stack, and Ecolab is not the only one who has figured that out.
The math behind the move is simple physics more than anything else. Modern AI training runs on GPU servers packed with far more processing density than traditional data centers were ever built to handle, and that density generates heat that conventional air cooling simply cannot dissipate fast enough. Nvidia’s newest Blackwell racks push thermal loads that force operators into direct-to-chip cooling, rear-door heat exchangers, or full immersion systems just to keep the hardware running. ASHRAE’s 2026 AI Data Center Energy Performance Framework now names these approaches explicitly as requirements, not options, for high-density AI deployments. MarketsandMarkets pegs the global liquid cooling market at $4.07 billion this year, growing to $27.65 billion by 2033, a 31.5% annual growth rate that would make most industries jealous.
Ecolab’s purchase of CoolIT is just the most recent entry in a run of consolidation that has been building for over a year. Trane Technologies has announced plans to acquire LiquidStack. Schneider Electric bought Motivair in 2025 specifically to build out its liquid cooling capabilities. Vertiv closed its acquisition of ThermoKey on June 12 and opened a new manufacturing facility in Malaysia on July 1 just to keep up with AI infrastructure orders. Every major player in industrial thermal management has either bought a specialist in this space or announced plans to. When that many strategic acquirers are willing to pay near 30 times forward earnings for private cooling companies, the public small and micro-cap names sitting in the same value chain tend to get repriced whether or not they’re involved in a deal themselves.
A handful of small-cap names sit right in the middle of this shift. Modine Manufacturing has spent the last three years transforming itself from a legacy automotive parts supplier into a company focused on data center thermal management, divesting older auto businesses along the way to sharpen that story. Limbach Holdings has leaned into the build-out from a different angle, highlighting its modular construction and prefabrication platform for data centers in a June announcement that positions the company squarely inside the high-density projects hyperscalers are commissioning right now. And nVent Electric, which has spent more than a decade building liquid cooling distribution and high-density power systems, saw organic orders jump roughly 65% in a recent quarter driven almost entirely by large cooling orders tied to hyperscaler programs. The company has already deployed more than a gigawatt of cooling capacity across its installed base.
The AI investment story so far has mostly been about chips, and understandably so. But chips are useless if you can’t keep them cool enough to run at full capacity, and that second half of the equation is where the next wave of investment dollars appears to be heading. Power, water, and industrial thermal management are becoming just as important to the AI buildout as the silicon itself, and the M&A activity happening right now is the clearest evidence yet that the biggest names in industrial equipment already see it that way. Modine, Limbach, and nVent aren’t household names, and that’s exactly the point. When a $77 billion company pays nearly $5 billion for a private cooling specialist, the small-cap names doing similar work for the same customers are the ones worth watching next.
CULVER CITY, Calif., July 07, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, announced the official launch of ARK: Genesis Part 1 Ascended, ARK Tides of Fortune, and ARK: Dragontopiafor ARK: Survival Ascended. In connection with the release of ARK: Genesis Part 1 Ascended, the Company expects to recognize approximately $11 million from its deferred revenue backlog in Q3 2026.
The launch of ARK: Genesis Part 1 Ascended marks the return of one of the franchise’s most ambitious DLCs and its iconic ocean biome to the Unreal Engine 5-powered survival experience. Available at no additional cost to ARK: Survival Ascended owners, Genesis Part 1 Ascended expands the game’s content offering with new environments, creatures, and survival challenges.
Launching alongside Genesis Part 1 Ascended is Tides of Fortune, a new premium expansion that transforms the simulated ocean of Genesis into a massive, map-wide nautical frontier. Within this new expansion, players can build fleets, engage in naval warfare, and explore the deepest reaches of ARK‘s oceanic ecosystem.
Additionally, Studio Wildcard shadow-dropped ARK: Dragontopia, an all-new premium expansion pass that introduces survivors to a vast aerial ecosystem where dragons rule the skies. Owners will receive included content updates on July 9 and in October, culminating in December with the release of a boundless skyworld map.
The launch of this trio of content (Genesis Ascended Part 1, Tides of Fortune, and Dragontopia) underscores Snail Games’ strategy of leveraging its established content portfolio to drive player engagement and expand the ARK ecosystem. As the Company continues to invest in franchise development, ARK remains a key pillar of Snail Games’ growth and portfolio.
For creators interested in collaborations, please contact [email protected].
About Snail, Inc. Snail, Inc. (Nasdaq: SNAL) is a leading global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Forward-Looking Statements: This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. These forward-looking statements include information about possible or assumed future results of Snail Games’ business, financial condition, results of operations, liquidity, plans and objectives. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding recognizing approximately $11 million from the Company’s deferred revenue backlog in Q3 2026 in connection with the release of ARK: Genesis Part 1 Ascended; the sustainable value of prior ARK content and the franchise’s strong long-term player ecosystem; Snail Games’ strategy of leveraging its established content portfolio to drive player engagement and expand the ARK ecosystem; ARK remaining a key pillar of Snail Games’ growth and portfolio as the Company continues to invest in franchise development; and assumptions underlying any of the foregoing. Further information on risks, uncertainties and other factors that could affect Snail Games’ financial results and business include Snail Games’ ability to strengthen its gaming portfolio’s visibility; Snail Games’ ability to expand and grow its franchise and increase its revenue; Snail Games’ ability to retain its key employees or maintain its Nasdaq listing; and the risks that are included in its filings with the Securities and Exchange Commission (the “SEC”) from time to time, including its annual reports on Form 10-K and quarterly reports on Form 10-Q filed, or to be filed, with the SEC. You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those expressed or implied in the forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on management’s beliefs and assumptions and on information currently available to Snail Games, and Snail Games does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 [email protected]
CERRITOS, Calif., July 07, 2026 (GLOBE NEWSWIRE) — The Oncology Institute, Inc. (“TOI”) (NASDAQ: TOI), one of the largest value-based oncology groups in the United States, announced today that it has repaid its $86 Million senior secured convertible note with Deerfield Partners through a debt refinancing that includes new credit facilities from OrbiMed.
This transaction is intended to increase liquidity, improve operating flexibility and extend debt maturities. Under the new financing arrangements with OrbiMed, TOI repaid the outstanding balance of its $86 million senior secured convertible note with a new $75 million term loan with OrbiMed maturing in 2031 as well as approximately $11 million of cash from the balance sheet without raising additional equity. Daniel Virnich, MD, CEO of TOI, commented, “I’m extremely excited about our new financing relationship with OrbiMed to support this next phase of TOI’s growth and business model refinement. In addition to providing the company with improved liquidity and financial flexibility, this important transaction significantly extends debt maturities and establishes committed funding from two leading healthcare financing institutions.” Dr Virnich also commented, “We are very pleased that we were able to complete these transactions without diluting our important existing shareholders, and would like to thank Deerfield Healthcare for their many years of support to TOI as both a creditor and existing shareholder.”
“We are pleased to support TOI in its next phase of growth,” said Matthew Rizzo of OrbiMed. ” We are excited to play a role in TOI’s expansion and development as it continues to scale and drive long term value for its patients and contracted payors.”
Founded in 2007, The Oncology Institute, Inc. (NASDAQ: TOI) is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of approximately 2.0 million patients including clinical trials, transfusions, and other care delivery models traditionally associated with the most advanced care delivery organizations. With over 400 employed and network clinicians and over 100 clinics and network locations of care across five states and growing, TOI is changing oncology for the better. For more information visit www.theoncologyinstitute.com.
Forward Looking Statement
This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or TOI’s future financial or operating performance and are often identified by words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “may,” “will,” “estimate,” “continue,” “project,” “target,” or similar expressions.
These forward-looking statements include, without limitation, statements regarding TOI’s growth strategy, liquidity, working capital needs, access to financing (including any asset-based credit facilities), expected operational and financial performance, and market opportunities. These statements are based on current expectations, assumptions, and information available to management and are not guarantees of future performance.
Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of risks and uncertainties, including, among others: changes in the healthcare regulatory environment; reimbursement and payor dynamics; competitive pressures; TOI’s ability to execute on its growth and value-based care strategy; access to capital and liquidity; and the impact of litigation, government investigations, or other proceedings.
Additional factors that could cause actual results to differ materially are described in TOI’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of TOI’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
Forward-looking statements speak only as of the date made, and TOI undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this communication, except as required by law.
NORWOOD, Mass., July 07, 2026 (GLOBE NEWSWIRE) — MariMed’s (“MariMed”) (CSE: MRMD) (OTCQB: MRMD) award-winning flower, vape and concentrate brand, Nature’s Heritage™, today announced the launch of ‘The Nose Knows,’ an immersive, science-backed consumer education campaign designed to help consumers better understand which cannabis products and strains align best to their preferences. The campaign aims to educate consumers about the critical role aroma plays in delivering desired cannabis experiences and organizes cannabis strains into six categorizes to make purchase decisions easier and more effective.
Developed in collaboration with Dr. Riley Kirk, a PhD-trained pharmaceutical scientist specializing in cannabis and pharmacology, ‘The Nose Knows’ campaign was inspired by feedback from cannabis consumers surveyed across Massachusetts, Maryland, and Illinois. The survey found that a product’s THC potency percentage is the primary factor influencing purchases. According to Dr. Kirk, research indicates that consumers would achieve a more desirable and personalized experience by focusing instead on their natural attraction to certain scents when making their flower purchase.
“Our sense of smell is intimately tied to our brain’s processing centers for emotions and memory,” said Dr. Kirk. “We want to encourage people to follow their nose to find cannabis that fits their needs and allows for a more personalized and nuanced experience. Terpene labels are a great resource, but they can be confusing to consumers. Following your nose is simple and intuitive for everyone.”
‘The Nose Knows’ campaign features immersive in-store activations, sensory-driven displays, and large-scale murals highlighting six aroma-and-effect-driven categories: Jacks & Haze, Tropical & Citrus, Floral & Earthy, Desserts & Sweets, OG, Gas & Chem, and Exotics. Utilizing local artists to visually depict each intended experience, the campaign transforms participating retail spaces into educational environments that encourage consumers to smell flower and concentrates and use their nose to help discover products that are right for them. Consumers can also explore the campaign through Nature’s Heritage’s online “Find Your Flower” quiz. The quiz helps guide consumers toward products aligned with their preferences and desired effects.
“Today’s cannabis consumer overwhelmingly purchases products based on THC percentage. Cannabis is meant to be experienced through one’s senses, and the science supports the fact that focusing on aroma rather than potency will enhance a consumer’s cannabis experience,” said Tami Kirlis, Brand Director for Nature’s Heritage. “We developed ‘The Nose Knows’ campaign to educate consumers and shift their purchasing behaviors using their sense of smell.”
To learn more about Nature Heritage, including options for flower, RSO, concentrates and vapes, visit www.naturesheritagecannabis.com.
About MariMed MariMed Inc. is a leading multi-state cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. Our award-winning portfolio of cannabis brands, including Betty’s Eddies™, Bubby’s Baked™, InHouse™, Nature’s Heritage™, and Vibations™, sets us apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, MariMed continues to drive growth and set new standards in the cannabis industry. For additional information, visit www.marimedinc.com.
STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm, said today it will release its second-quarter financial results on Wednesday, August 5, 2026, at approximately 4:15 p.m., U.S. Eastern Time.
The firm will host a conference call with investors and industry analysts at 9 a.m., U.S. Eastern Time, the following day, Thursday, August 6. Dial-in details are as follows:
The dial-in number for U.S. participants is +1 (800) 715-9871.
International participants should call +1 (646) 307-1963.
The security code to access the call is 2802159.
Participants are requested to dial in at least five minutes before the scheduled start time.
A recording of the conference call will be accessible on ISG’s investor relations page for approximately four weeks following the call.
About ISG
ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data and research, in-depth knowledge and governance of provider ecosystems, and the expertise of its 1,500 professionals worldwide working together to help clients maximize the value of their technology investments.
