Month: October 2026

First Phosphate Corp. (PHOS) – Advancing Toward Feasibility

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Monday, October 19, 2026

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.

Significant progress toward development. First Phosphate continues to advance its North American LFP battery materials strategy, supported by its inclusion in a G7-backed critical minerals initiative, international financing interest, accelerated permitting coordination in Quebec, and expanded mineral resources. These developments strengthen the company’s strategic position as Bégin-Lamarche advances toward feasibility.

Strengthening project economics and financing prospects. With the updated mineral resource estimate, indicated mineral resources increased by 378%, providing greater geological confidence for feasibility-level mine planning. Canadian government contributions and potential export credit support from Swiss and Danish agencies could reduce future funding requirements. Management is targeting completion of the Bégin-Lamarche feasibility study in the first quarter of calendar 2027.


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*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. 

Conduent (CNDT) – Conduent Moves To Resolve Major Litigation Overhang

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Monday, October 19, 2026

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

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

Reaches $80 million class action settlement. Conduent agreed to settle consolidated class action litigation related to its previously disclosed January 2025 cybersecurity incident. The incident involved unauthorized access to the company’s networks beginning in October 2024 and exposed personal information belonging to approximately 62 million individuals. The agreement remains subject to court approval.

Addresses significant litigation exposure. The settlement seeks to resolve litigation stemming from the cybersecurity incident, including claims involving Conduent and affected clients. Upon final approval, the agreement would release Conduent, its affected clients, and their affected customers from covered claims arising from the incident. We believe the agreement provides greater visibility into a significant legal uncertainty that has weighed on the company’s broader turnaround efforts.


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*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. 

Kratos Defense & Security (KTOS) – A Tuck-in and Other News

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Monday, October 19, 2026

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.

A Tuck-in. Last week, Kratos acquired Jetset Airmotive from its founders. Jetset’s MRO operations on PT6A turbine engines complement Kratos’ existing MRO operations conducted through its Oklahoma-based CTS subsidiary. Based on previous such transactions, we believe the acquisition was structured as 50% KTOS shares and 50% cash, which would imply roughly $50 million in total. With an estimated $40-$50 million in revenue and typical 13-14% EBITDA margins, Jetset was purchased for approximately 1x revenue and 9x EBITDA. The acquisition should add about $5+ million to annual EBITDA.

New Contracts. Kratos has been awarded more than $100 million over multiple contracts to develop prototype mission applications and cyber capabilities, providing space intelligence data in support of joint operations across the space and cyberspace domains. The contracts will leverage Kratos’ software products, analytics, and expertise in RF, signal processing, cybersecurity, and software development, establishing a proven technology base that can be adapted and integrated to meet emerging space and cyber mission requirements.


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

This 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. 

Why Did Palantir Stock Drop? $260 Billion Software Selloff Raises AI Valuation Concerns

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Palantir Technologies (NASDAQ: PLTR) shares fell approximately 7% during the October 16 trading session, wiping out roughly $34 billion in market value as investors reassessed artificial intelligence valuations and the outlook for high-growth software companies. The decline came amid a broader technology selloff that erased more than $260 billion in market capitalization across the software industry.

The sharp drop followed a strong rally that pushed Palantir stock close to $213 earlier in the week. Despite the company’s rapid revenue growth and strong demand for its AI-powered platforms, investors are increasingly questioning whether elevated valuations can be sustained amid economic uncertainty, rising competition, and concerns about the long-term profitability of artificial intelligence investments.

Why Did Palantir Stock Drop?

Palantir’s decline reflects a combination of profit-taking, elevated valuation concerns, and broader weakness in technology stocks.

After breaking above its previous record, the stock quickly reversed direction, raising concerns about a potential “bull trap,” a market pattern in which shares break above a resistance level before falling back.

Investors have been closely watching the $188.15 price level, which would represent a correction of more than 10% from Palantir’s recent record closing price.

Valuation remains a central concern. Despite reporting a 93% year-over-year increase in second-quarter revenue, Palantir has traded at approximately 55 times projected annual revenue, a substantial premium that leaves little room for disappointing financial results.

A $260 Billion Software Selloff Hits Technology Stocks

Palantir’s decline was part of a much broader retreat across the software sector.

Of 45 major software companies tracked in one industry basket, 43 traded lower during Friday’s session, with 15 declining by at least 5%.

Microsoft (NASDAQ: MSFT) lost approximately $83 billion in market capitalization, while ServiceNow (NYSE: NOW) reversed an earlier gain and declined more than 5%. Salesforce (NYSE: CRM) also fell, and Twilio (NYSE: TWLO) experienced a double-digit percentage drop.

The iShares Expanded Tech-Software Sector ETF (IGV) declined nearly 5%, underscoring the widespread selling pressure across the industry.

Cybersecurity stocks also faced significant losses. The First Trust Nasdaq Cybersecurity ETF (CIBR) declined approximately 10% for the week, while Palo Alto Networks (NASDAQ: PANW) and CrowdStrike (NASDAQ: CRWD) each fell roughly 18%.

Are AI Stock Valuations Becoming Too Expensive?

The selloff highlights growing concerns about how investors value companies benefiting from the artificial intelligence boom.

Although AI adoption has created substantial growth opportunities, some investors are questioning whether current stock prices adequately reflect the costs, competitive pressures, and uncertainty associated with developing and commercializing AI technologies.

Palantir’s reported 93% second-quarter revenue growth demonstrates strong demand for its software platforms. However, its premium valuation means investors may expect continued exceptional performance.

At the same time, emerging AI technologies could disrupt traditional software business models, potentially increasing competition and placing pressure on profit margins.

These concerns are affecting companies across the software industry, not just businesses directly associated with artificial intelligence.

How Inflation and Interest Rates Affect AI Stocks

Macroeconomic uncertainty is also contributing to volatility in technology shares.

Persistent inflation and questions surrounding Federal Reserve interest rate policy have made investors more cautious about high-growth companies trading at elevated valuations.

Higher interest rates can reduce the present value investors assign to future earnings, placing additional pressure on stocks whose valuations depend heavily on long-term growth expectations.

For companies such as Palantir, the combination of high investor expectations and changing economic conditions can amplify share-price movements even when underlying business performance remains strong.

What Should Investors Watch Next for Palantir Stock?

Palantir’s recent decline highlights the distinction between strong operational performance and the valuation investors are willing to pay for future growth.

Several factors could influence sentiment toward Palantir and the broader AI software sector, including continued revenue growth, profitability, customer demand, competitive developments, and changes in interest rate expectations.

The $260 billion software selloff does not necessarily signal the end of the artificial intelligence investment cycle. Instead, it suggests investors are becoming more selective as the industry matures.

For Palantir and other AI-focused software companies, sustaining investor confidence may increasingly depend on demonstrating that strong demand can translate into consistent revenue growth, durable profitability, and long-term shareholder value.

Release – NN, Inc. Enters Cable Assembly & Harness Business

Posted on by [email protected]
Primary Logo

CHARLOTTE, N.C., Oct. 16, 2026 (GLOBE NEWSWIRE) — NN, Inc. (“NN” or the “Company”) (NASDAQ: NNBR), an entrepreneurial growth company that engineers and manufactures high-precision components and assemblies, today announced the launch of a new Cable Assembly and Wire Harness product line and business. This new business startup represents NN’s fourth unique new product line introduced by the Company during 2026.

This new Cable Assembly and Wire Harness product line adds to NN’s growth program that targets Data Center, Defense, Electric Grid, Medical and High-Value Vehicle systems end markets. The product line includes engineered wiring, cable assembly, bus-bar assemblies, and box-build solutions. Production will be centered in Cd. Juarez, Chihuahua Mexico.

This new product line leverages NN’s vertical integration in precision machining, precision stamping and complex engineered components. It also leverages the existing management team’s historical experience in building and leading successful cable assembly and wire harness operations. This will enable NN to offer customers a higher level of value with cohesive electrical and electromechanical solutions.

The new Cable Assembly and Wire Harness Solutions business will feature advanced automated wire cutting, stripping, crimping, and termination equipment, complemented by digital work instructions, virtual assembly boards, and carousel-based assembly systems. Dedicated engineering and rapid prototyping capabilities will help accelerate project timelines, supporting customers from concept development and electrical architecture through detailed design, validation, and production readiness. Flexible production cells for low- and high-voltage applications, along with box-build capabilities, will enable NN to serve customers across a range of production volumes. Combined with NN’s rapid prototyping and flexible manufacturing processes, these capabilities will help shorten project turnaround times, accelerate product development, and enable customers to move efficiently from prototype to full-scale production.

NN’s first new product line introduced in 2026 was for the Data Center liquid cooling connector market. The second new product line was for the Medical market and aimed at producing components for automated surgery equipment, and the third new product line focuses on the Defense market to produce titanium firearm and weapon assemblies.

Tim Erro, NN’s Chief Commercial Officer will be the General Manager of the new business. Moe Farhat will be the Chief Technology Officer, Raul Gutierrez will be the Sales Manager, and Luis Gomez will be the Juarez Plant Manager.

Harold Bevis, President and Chief Executive Officer of NN commented, “NN is committed to strong growth in our targeted end markets, and the launch of this new product line is another addition. We have the right team to lead this new product line and business. We are bringing together precision components, interconnect expertise, and higher-level assembly capabilities and providing customers a powerful and simplified solution set from a single manufacturing partner. This is an exciting additional growth step and we look forward to discussing our results in this new product area.”

About NN, Inc.

NN, Inc. (NASDAQ: NNBR) is an entrepreneurial manufacturing company specializing in manufacturing micron-tolerance precision metal componentry for high-growth end markets, especially Data Center, Electric Grid, Medical, Defense, and High-Value Vehicle systems. Founded in 1980, NN serves over 700 customers on 4 continents through its 2,700 person workforce operating out of 28 global plants. This footprint enables rapid innovation and globally scaled solutions. For more information, visit nninc.com.

Forward Looking Statements

This press release may contain forward-looking statements regarding our business, operations, and financial performance. Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our most recently filed Form 10-K and our Form 10-Q for the period following that Form 10-K, including the risk factors described therein. We undertake no obligation to update any forward-looking statement, except as required by law. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements.

Investor Relations: 
Joe Caminiti
[email protected]
312-445-2870 

Tectonic Metals Inc. (TETOF) – High-Grade Results Strengthen Flat’s Resource Potential

Posted on by [email protected]


Friday, October 16, 2026

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.

High-grade results strengthen exploration outlook. Tectonic Metals reported encouraging results from 19 drill holes at its Flat Gold Project in Alaska. At the Alpha Bowl target, drilling intersected 2.41 grams per tonne (g/t) gold over 59.44 meters, including 11.82 g/t over 10.67 meters and 39.96 g/t over 3.05 meters, within a broader interval of 1.86 g/t over 80.77 meters beginning at the surface. The results strengthen the potential for a large, near-surface gold system containing higher-grade zones.

Alpha Bowl emerges as a priority target. Alpha Bowl extends approximately 820 meters along strike and 600 meters in width, with mineralization encountered beyond 300 meters of vertical depth. Recent and historical drilling demonstrate gold mineralization across multiple locations, with higher-grade intersections suggesting opportunities to enhance future resource quality. Drilling is evaluating mineralization continuity and expansion potential, with several holes awaiting assays.


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*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. 

Proofpoint to Buy Varonis (VRNS) for $6.3B in Major AI Security Deal

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Cybersecurity giant Proofpoint has announced plans to acquire Varonis Systems (NASDAQ: VRNS) in an approximately $6.3 billion all-cash transaction, marking one of the largest cybersecurity deals of 2026. The acquisition reflects growing demand for advanced data protection as artificial intelligence transforms how businesses operate and manage sensitive information.

Announced October 15, the agreement will bring together Proofpoint’s expertise in email security, threat prevention, and human-centric cybersecurity with Varonis’ capabilities in data security, access management, and AI protection. The combined company aims to create a comprehensive platform capable of addressing increasingly sophisticated cyber threats.

Under the agreement, Varonis shareholders will receive $49.75 per share in cash, representing a 52% premium over the company’s June 22 closing price of $32.71, before initial acquisition speculation emerged.

The transaction values Varonis at approximately 8.4 times trailing twelve-month revenue and 53 times free cash flow, demonstrating the substantial valuations investors are assigning to companies positioned within the rapidly expanding AI security market.

Proofpoint, owned by private equity firm Thoma Bravo, will finance the transaction through committed equity and debt financing. Ontario Teachers’ Pension Plan will also invest in Proofpoint as part of the deal.

The acquisition is expected to close during the first half of 2027, pending shareholder and regulatory approvals. Following completion, Varonis will become privately held and its shares will cease trading on the Nasdaq.

The acquisition comes as businesses increasingly integrate generative AI and autonomous AI agents into everyday operations, creating new vulnerabilities involving sensitive corporate information.

AI-powered systems can access enormous amounts of enterprise data, raising concerns about unauthorized access, information leakage, and increasingly sophisticated cyberattacks.

Varonis specializes in identifying sensitive data, monitoring access permissions, and detecting suspicious activity across cloud and enterprise environments. Proofpoint brings established capabilities in protecting employees, communications, and digital interactions.

Combining these technologies could allow organizations to better understand who—or what—can access critical information while strengthening defenses against emerging AI-driven threats.

The companies expect their combined operations to serve more than 16,000 enterprises and millions of organizations worldwide.

The transaction underscores a broader consolidation trend across cybersecurity, where larger providers are acquiring specialized technologies to deliver integrated security platforms.

For investors, the acquisition highlights the strategic importance of data protection as enterprise AI adoption accelerates.

Rather than relying on numerous independent security vendors, businesses are increasingly seeking unified solutions capable of protecting employees, cloud infrastructure, sensitive information, and AI applications.

This shift could create additional acquisition opportunities for smaller cybersecurity companies offering differentiated technologies in data governance, identity protection, and AI threat detection.

However, premium valuations also introduce execution risks. Proofpoint must successfully integrate Varonis’ technology, retain customers, and demonstrate that its expanded platform delivers meaningful competitive advantages.

Proofpoint’s $6.3 billion acquisition of Varonis illustrates how artificial intelligence is reshaping cybersecurity investment priorities.

As enterprises deploy increasingly autonomous AI systems, protecting the information those systems access is becoming essential.

For the broader technology sector, the deal reinforces a significant investment theme: the growth of artificial intelligence is creating opportunities not only for companies developing AI, but also for those securing it.

Whether the acquisition delivers its anticipated benefits will depend on successful integration and continued enterprise demand for comprehensive AI security solutions.

Why Are AI Stocks Falling? Nvidia and CoreWeave Slide as Investors Question AI Spending

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Nvidia (NASDAQ: NVDA), CoreWeave (NASDAQ: CRWV), and other artificial intelligence stocks came under selling pressure on October 15, 2026, as investors raised concerns about soaring AI infrastructure costs, debt financing, and whether massive technology investments will generate sustainable profits. Nvidia shares fell approximately 3% during Thursday morning trading, while CoreWeave extended losses following a sharp decline the previous session.

The broader AI stock selloff has affected semiconductor manufacturers, cloud computing providers, and data center companies. Despite continued demand for artificial intelligence technology, investors are becoming increasingly concerned about the financial risks associated with funding the industry’s rapid expansion.

Why Is Nvidia Stock Falling?

Nvidia shares declined alongside other semiconductor stocks as investors reassessed the sustainability of spending on artificial intelligence infrastructure.

The company supplies advanced processors used to train and operate AI models, making its business closely connected to spending by major technology companies and cloud computing providers.

Although demand for AI computing remains substantial, concerns about rising infrastructure costs and the financial health of companies investing heavily in AI have weighed on investor sentiment.

Advanced Micro Devices (NASDAQ: AMD) and Micron Technology (NASDAQ: MU) also recorded declines during Thursday’s trading session.

The Philadelphia Semiconductor Index lost more than $1.6 trillion in market capitalization over six trading sessions, illustrating the scale of the recent retreat in semiconductor stocks.

Why Is CoreWeave Stock Dropping?

CoreWeave has emerged as a focal point of concerns surrounding debt-financed artificial intelligence infrastructure.

The cloud computing company provides access to high-performance Nvidia processors and has relied heavily on borrowing to expand its data center operations.

CoreWeave shares fell more than 15% on Wednesday and continued declining during Thursday’s session as investors scrutinized the company’s substantial debt obligations.

Yields on some of CoreWeave’s corporate bonds climbed to distressed levels, highlighting growing concerns about the costs of financing its expansion.

With interest rates remaining elevated, companies dependent on borrowed capital face additional pressure to demonstrate that investments in computing infrastructure can generate sufficient revenue and cash flow.

Why Are AI and Data Center Stocks Falling?

The broader selloff reflects concerns about the extraordinary amount of money being invested in artificial intelligence infrastructure.

Major technology companies are spending billions of dollars on data centers, advanced semiconductors, networking equipment, and energy infrastructure to support increasingly sophisticated AI models.

While demand for computing capacity remains strong, investors are questioning whether future revenue will justify the enormous upfront costs.

There is also an important distinction between companies supplying AI infrastructure and those financing its development.

Semiconductor manufacturers can generate revenue by selling processors and related equipment. Data center operators, meanwhile, must recover substantial construction, equipment, and financing costs through long-term customer contracts.

This difference has become increasingly important as investors evaluate the financial sustainability of the AI investment cycle.

How Interest Rates Are Affecting AI Stocks

Higher borrowing costs are adding another layer of uncertainty for technology companies pursuing aggressive expansion strategies.

Recent inflation reports have increased expectations that the Federal Reserve could raise interest rates further, potentially making debt-financed infrastructure projects more expensive.

For companies with significant borrowing requirements, higher interest expenses can reduce profitability, constrain cash flow, and complicate future investment plans.

These concerns extend beyond AI infrastructure providers. The broader technology sector has experienced renewed volatility as investors reassess valuations and future growth expectations.

Is the AI Stock Selloff a Sign of a Bigger Technology Correction?

The recent decline in AI-related stocks highlights a broader shift in investor sentiment toward high-growth technology companies.

Investors are increasingly distinguishing between businesses demonstrating sustainable revenue growth and those relying on aggressive spending assumptions.

The selloff does not necessarily indicate that demand for artificial intelligence is weakening. Businesses continue adopting AI for automation, data analysis, cybersecurity, and enterprise software.

However, continued adoption does not guarantee that every company involved in the AI industry will generate sufficient profits to justify its valuation.

As technology companies face greater scrutiny, profitability, cash flow, debt levels, and the timing of investment returns may become increasingly important.

What Does the AI Selloff Mean for Small-Cap Technology Stocks?

For small-cap and emerging technology companies, changing market conditions could create both opportunities and challenges.

Businesses developing AI applications, semiconductor components, and infrastructure services may benefit from continued adoption of artificial intelligence.

However, tighter financing conditions could make it more difficult for smaller companies to raise the capital needed to expand operations or commercialize new technologies.

Companies with established customers, recurring revenue, and manageable debt levels may be better positioned to navigate heightened market scrutiny.

The recent volatility suggests that investors are becoming more selective about how companies finance growth and when those investments are expected to generate meaningful returns.

As artificial intelligence continues reshaping the technology industry, the next phase of the AI investment cycle may depend less on spending announcements and more on sustainable profitability and financial discipline.

Release – Lucky Strike Entertainment Appoints Patrick Chung Executive Vice President of Food & Beverage Operations

Posted on by [email protected]

10/14/2026


MIAMI–(BUSINESS WIRE)– Lucky Strike Entertainment (NYSE: LUCK) today announced the appointment of Patrick Chung as Executive Vice President of Food & Beverage Operations. Chung will lead the Company’s food and beverage operations, with a focus on enhancing the guest experience, strengthening execution and driving profitable growth.

“Food and beverage should be a reason guests choose Lucky Strike, not simply something they order once they arrive,” said Thomas Shannon, Founder, Chairman and Chief Executive Officer of Lucky Strike Entertainment. “Patrick brings a compelling combination of hospitality experience, analytical discipline and a passion for understanding what guests want. Our focus is straightforward: deliver food and drinks our guests love, offer great value and execute consistently. Patrick will help us translate that vision into better menus, stronger performance and more reasons for guests to come back.”

Chung brings more than a decade of experience spanning hospitality, food and beverage strategy, revenue optimization and e-commerce. He joins Lucky Strike from MGM Resorts International, where he most recently served as Director of Hospitality Revenue Strategy & Analytics. In that role, he led the food and beverage revenue strategy and analytics team, partnering with operators, property executives and finance teams on planning and performance across more than 450 food and beverage outlets. His responsibilities included menu engineering, pricing strategy, guest research and the implementation of enterprise-wide revenue initiatives.

At Lucky Strike, Chung will work closely with culinary and field leadership to connect guest insights with practical improvements in the food and beverage experience. His priorities will include refining menu offerings, supporting consistent execution and equipping teams with the tools and information needed to deliver strong results.

Previously, Chung held leadership roles in food and beverage corporate strategy, pricing analytics and menu engineering at MGM Resorts, as well as hospitality analytics at Yaamava’ Resort & Casino. His experience includes partnering with operators on demand forecasting, menu development, new concept evaluations and guest analytics. Earlier in his career, he worked in corporate development at Kigo Kitchen and vendor management at Amazon, building experience in pricing analytics, merchandising and commercial strategy.

Chung earned a Bachelor of Science in Economics from the Wharton School of the University of Pennsylvania, with concentrations in Finance and Marketing.

About Lucky Strike Entertainment:

Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling (Lucky Strike, Bowlero, AMF), amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit IR.LuckyStrikeEnt.com.

Media:
[email protected]Source: Lucky Strike Entertainment Corporation

Release – Tonix Pharmaceuticals Announces Presentations at World Vaccine Congress Europe 2026

Posted on by [email protected]

October 15, 2026 7:00am EDT

BERKELEY HEIGHTS, N.J., Oct. 15, 2026 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (“Tonix” or “the Company”), a fully integrated, commercial-stage biopharmaceutical company, today announced an oral presentation on TNX-801, a live, attenuated, minimally replicative investigational vaccine platform based on horsepox virus to protect against mpox and other infectious diseases, and a working group session led by Tonix, “Vectored Vaccine Platforms: From Design to Improving Efficacy,” at the World Vaccine Congress Europe held in Amsterdam, Netherlands on October 19-21, 2026.

TNX-801 Presentation Details
Title: TNX-801 Vaccine Platform Safety and Efficacy
Date & Time: Oct. 21, 2026, 1:15 p.m. CEST
Session Category: Emerging & Infectious Diseases
Presenter: Farooq Nasar, Ph.D., MPH, Director, Virology, Research and Development Center (RDC), Tonix Pharmaceuticals

Other Session Details
Title: Working Group: Vectored Vaccine Platforms: From Design to Improving Efficacy
Date & Time: Oct 20, 2026, 11:30 a.m. CEST
Session Category: Working Groups
Presenters: Sina Bavari, Ph.D., Executive Vice President, Infectious Disease, RDC, Tonix Pharmaceuticals; Gabriella Worwa, DVM, Ph.D., Study Director, RDC, Tonix Pharmaceuticals; Matilu Mwau, Senior Principal Clinical Research Scientist, Professor of Infectious Diseases, Kenya Medical Research Institute (KEMRI)

About TNX-801
TNX-801 (recombinant horsepox virus) is an attenuated, minimally replicative, live virus vaccine platform based on horsepox in pre-clinical development to prevent mpox, smallpox, and other emerging infectious diseases. TNX-801 is expected to enter a Phase 1 study in 2027 pending FDA clearance of an Investigational New Drug Application (IND). TNX-801 is in the pre-IND stages of development.

Tonix Pharmaceuticals Holding Corp.
Tonix Pharmaceuticals* is a fully integrated, commercial-stage biopharmaceutical company focused on central nervous system (CNS) disorders, infectious diseases, and immunology conditions with high unmet medical needs. TONMYA® (cyclobenzaprine HCl sublingual tablets 2.8mg), the Company’s flagship internally conceived and developed medicine, is the first treatment for fibromyalgia in more than 15 years. Tonix’s CNS commercial infrastructure supports its marketed products, including its acute migraine products, Zembrace® SymTouch® (sumatriptan injection 3 mg) and Tosymra® (sumatriptan nasal spray 10 mg). Tonix is extending the science behind TONMYA in Phase 2 clinical studies to evaluate the potential of TNX-102 SL in major depressive disorder and acute stress disorder/acute stress reaction. Tonix is also advancing a pipeline of infectious disease programs, including Phase 2-ready monoclonal antibody TNX-4800 (anti-OspA mAb) for Lyme disease prevention in the U.S., and TNX-801 (horsepox, live virus vaccine), a vaccine in development for the prevention of mpox and smallpox. Within immunology, TNX-1500 (anti-CD40L mAb) is a Phase 2-ready, third-generation CD40 ligand inhibitor for the prevention of kidney transplant rejection. To learn more, visit www.tonixpharma.com.

*Tonix’s product development candidates, including TNX-102 SL for new, unapproved indications, are investigational new drugs or biologics. Their efficacy and safety have not been established and have not been approved for any indication.

Zembrace SymTouch and Tosymra are registered trademarks of Tonix Medicines. TONMYA is a registered trademark of Tonix Pharma Limited. All other marks are property of their respective owners.

Forward Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to successfully launch and commercialize TONMYA® and any of our approved products; risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on March 12, 2026, and periodic reports filed with the SEC on or after the date thereof. Tonix does not undertake an obligation to update or revise any forward-looking statement. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.

Investor Contacts
Deborah Elson
Tonix Pharmaceuticals
[email protected] 
[email protected] 

Release – Tectonic Metals Drills 2.41 g/t Au Over 59.44 Metres, Including 11.82 g/t Au Over 10.67 Metres and 39.96 g/t Au Over 3.05 Metres at Alpha Bowl, Flat Gold Project, Alaska

Posted on by [email protected]

Drilling Reveals Additional Gold-Bearing Hydrothermal Breccia Mineralization Style at Chicken Mountain, Expanding Exploration Potential

VANCOUVER, B.C., October 15, 2026 – Tectonic Metals Inc. (“Tectonic” or the “Company”) (TSX-V: TECT; OTCQX: TETOF) today announced results from 19 drill holes at Chicken Mountain, the most advanced of six kilometre-scale intrusion targets at the Company’s flagship 99,840-acre Flat Gold Project (“Flat”) in southwest Alaska, U.S.

Drilling continues to deliver broad, near-surface gold mineralization with substantial higher-grade intervals at Alpha Bowl and Adit, two priority zones within Chicken Mountain’s mineralized footprint, which extends 3.3 kilometres (“km”) in length and up to 700 metres (“m”) in width, and has been drill-tested to a vertical depth of 300 m.

Today’s results are highlighted by:

  • Alpha Bowl: 2.41 grams per tonne gold (“g/t Au”) over 59.44 m, including 11.82 g/t Au over 10.67 m, which includes 39.96 g/t Au over 3.05 m, within a broader surface-starting interval of 1.86 g/t Au over 80.77 m.
  • Adit Zone: 1.52 g/t Au over 42.67 m, including 27.35 g/t Au over 1.52 m and 3.84 g/t Au over the final 13.72 m of the hole, where higher-grade mineralization remains untested beyond the end of the hole.

The results support the potential for near-surface, bulk-tonnage gold mineralization with higher-grade domains that could be relevant to future starter-pit evaluations. Drilling has also identified gold-bearing hydrothermal brecciation at Adit, adding a potentially important mineralization style and new exploration targets at Chicken Mountain.

Tectonic has completed more than 29,000 m of drilling in 2026 to advance resource delineation and expansion at Chicken Mountain, with drilling planned through the end of October. This release reports approximately 2,650 m from 19 holes (18 reverse-circulation (“RC”) and one diamond-core) at Alpha Bowl and Adit Zone (Figure 1).

In addition to today’s results, upcoming catalysts include: assays for 114 drill holes (approximately 22,000 m), column-leach test results and a maiden mineral resource estimate (“MRE”) targeted for Q1 2027, followed by a Preliminary Economic Assessment (“PEA”) targeted for Q2 2027.

Tony Reda, Co-Founder, President & CEO, commented:

“What continues to excite us is the scale emerging at Chicken Mountain. Alpha Bowl alone spans approximately 820 metres along strike, up to 600 metres in width, and has been drill-tested to a vertical depth of over 300 metres. These are substantial dimensions for an individual gold exploration target, yet Alpha Bowl represents just one part of Chicken Mountain’s broader 3.3-kilometre mineralized system. Together with Adit and other mineralized zones, the results continue to demonstrate the potential for a large-scale gold system with multiple higher-grade centres.

“We have tremendous momentum at Flat: 114 drill holes awaiting assays, drilling planned through the end of October, important column-leach results on the horizon and our maiden Mineral Resource Estimate in Q1 2027, followed by a Preliminary Economic Assessment in Q2 2027. The volume of new geological and metallurgical information still to come represents an exciting opportunity to deepen our understanding of this emerging gold system, refine our exploration and development strategy and potentially unlock further value across the 99,840-acre Flat property.”

Alpha Bowl Highlights

Alpha Bowl, the northern extension of the Chicken Mountain intrusion (see news release dated January 15, 2026)1, encompasses a mineralized footprint approximately 820 m along strike and 600 m wide, with gold intersected to at least 300 m depth. The latest drilling has identified significant higher-grade gold mineralization near surface, supporting Alpha Bowl as a target for future starter-pit evaluation (Figures 3 and 4).

  • New At-Surface Gold Intersection: CMR26-170 returned 2.41 g/t Au over 59.44 m, including 11.82 g/t Au over 10.67 m and 39.96 g/t Au over 3.05 m, within a broader surface-starting interval of 1.86 g/t Au over 80.77 m. The hole ended in mineralization, leaving the intersection open beyond the end of the hole and making it a target for follow-up drilling.
  • Higher-Grade Mineralization Within a Broad Gold-Bearing System: CMR26-170 builds on previous drilling, including CMR25-035, which returned 2.23 g/t Au over 41.15 m (see news release dated September 10, 2025)2. CMR26-170 is located 250 m south of CMR25-035, 100 m southeast of CMD25-009 (0.48 g/t Au over 94.00 m) and 170 m northeast of CMD25-010 (1.03 g/t Au over 10.00 m within 0.37 g/t Au over 56.5 m), the latter two both previously reported in the Company’s January 2026 news release. Together, these intersections demonstrate gold mineralization across multiple drill locations and suggest opportunities to delineate higher-grade domains within Alpha Bowl’s extensive mineralized footprint.
  • Expansion and Delineation Underway: Assays are pending from three holes east of CMR26-170, while ongoing drilling at approximately 100 m spacing is testing the lateral extent, geometry and continuity of mineralization.

The combination of broad surface-starting intersections, locally substantial grades and a large mineralized footprint positions Alpha Bowl as a priority target for delineating higher-grade zones within a potential bulk-tonnage, open-pit gold system. 

Adit Zone Highlights

The Adit Zone is a priority gold-bearing corridor associated with a major structural contact between the medium-grained Chicken Mountain and coarse-grained Alpha Bowl monzonites. Building on the 2025 discovery intersection of 4.05 g/t Au over 30.48 m in CMR25-121 (see news release dated December 22, 2025)3, the 2026 program is delineating mineralization along this contact and toward Alpha Bowl.

Adit Main

New 2026 RC drilling continues to intersect broad, near-surface gold mineralization with locally substantial higher-grade intervals:

  • CMR26-160: 0.90 g/t Au over 73.15 m from surface, including 2.14 g/t Au over 21.34 m and 6.97 g/t Au over 4.57 m.
  • CMR26-161: 0.70 g/t Au over 45.72 m from surface, including 1.14 g/t Au over 16.76 m, plus a separate deeper interval of 0.69 g/t Au over 15.24 m, including 4.95 g/t Au over 1.52 m. Drilled at a steeper angle from the same collar as CMR26-160, this hole helps constrain mineralization geometry.
  • CMR26-162: 1.06 g/t Au over 19.81 m, including 1.71 g/t Au over 10.67 m, followed by a separate interval of 0.64 g/t Au over 33.53 m, extending to the end of the hole.
  • CMR26-163: 1.52 g/t Au over 42.67 m, including 27.35 g/t Au over 1.52 m and 3.84 g/t Au over the final 13.72 m of the hole.
  • CMR26-171: 0.66 g/t Au over 35.05 m, including 1.00 g/t Au over 18.29 m and 1.63 g/t Au over 9.14 m, with mineralization extending to the end of the hole.

These results further support the Chicken Mountain-Alpha Bowl intrusive contact as a priority exploration target, with broad mineralized intervals and localized higher-grade concentrations suggesting structural and lithological controls on gold distribution. Notably, CMR26-162, CMR26-163 and CMR26-171 all ended in mineralization, including CMR26-163, which returned 3.84 g/t Au over its final 13.72 m, leaving the extent of these intersections unresolved (Figures 5 and 6).

The combination of near-surface mineralization, higher-grade internal intervals and multiple drill holes ending in mineralization supports Adit Main as a target for delineating bulk-tonnage gold mineralization with higher-grade domains. Follow-up drilling will establish continuity along the intrusive contact, extend mineralization beyond current drill limits and evaluate the potential for near-surface higher-grade zones that could contribute to future starter-pit evaluation.

Gold-Bearing Breccia Expands Exploration Targets

Diamond hole CMD26-054 intersected 0.73 g/t Au over 43.50 m, including 1.22 g/t Au over 15.00 m, within a multi-stage hydrothermal breccia interpreted to have formed through repeated episodes of faulting, brecciation and veining. The hydrothermal intersection in drill core shows multistage faulting with veins and brecciation and later carbonate and iron staining (see Figures 7 to 11).

Within Chicken Mountain’s interpreted reduced intrusion-related gold system (“RIRGS”), areas where intrusive contacts, faulting and hydrothermal brecciation coincide create additional targeting opportunities. Such sites may have provided localized pathways for gold-bearing fluids and could host mineralized bodies with different geometries from the surrounding sheeted-veinlet arrays.

Tectonic drilled follow-up holes at 100 m spacing to test the breccia’s extent, its relationship to neighbouring mineralization and whether repeated brecciation and veining are associated with gold enrichment. If demonstrated, these relationships could improve targeting of additional mineralized volume and local higher-grade zones along the Adit corridor. Assays are currently pending for CMD26-064 and CMD26-066.

The recognition of this hydrothermal breccia-hosted mineralization is significant because it suggests that mineralizing fluids were active within the system for a prolonged period and capable of multiple mineralizing events. This newly recognized style of mineralization adds an important development to the geologic and mineral model and expands the Company’s exploration potential.

Adit West

The Adit Zone structural contact is interpreted to extend westward along a corridor of coincident soil-geochemical and geophysical anomalies, defining a priority exploration target. Anomalous gold was intersected in seven of eleven holes, and this target remains insufficiently tested. Follow-up drilling from more favourably positioned drill pads will test the continuity and mineralization potential along the Adit West trend.

Drill results for the Adit Zone are shown in Figures 5 and 6.

Near-Term Catalysts

Drilling is expected to continue through the end of the field season in late October, supporting a steady flow of assay results through year-end. The assay pipeline is substantial, with 114 additional drill holes currently in the laboratory queue representing 22,000 m of the 2026 drill program.

Results from the regional soil-sampling program are also pending and will help refine and prioritize exploration targets beyond the current drilled footprint at Flat.

Drilling results and pending column-leach testing will inform the Company’s maiden MRE targeted for Q1 2027, and the PEA targeted for Q2 2027.

Qualified Person   

Tectonic Metals’ disclosure of technical or scientific information in this press release has been reviewed, verified and approved by Peter Kleespies, M.Sc., P.Geo., Chief Geological Officer, who is a Qualified Person in accordance with Canadian regulatory requirements set out in National Instrument 43-101.  

Analytical work for the 2026 Flat project drilling program was performed by ALS Global (“ALS”), an internationally recognized and accredited laboratory independent of Tectonic. On-site, core and reverse circulation samples were sealed in security-tagged bags and shipped under strict chain-of-custody protocols to the Lynden Transport logistics operator in Anchorage, Alaska, for delivery to ALS facilities in Vancouver, British Columbia.

Upon arrival at the laboratory, samples were dried, crushed to 2 mm and riffle split into nominal 500-gram subsample aliquots (prep codes CRU-31, SPL-32a). One portion was analyzed for gold using PhotonAssay™ (ALS code Au-PA01). PhotonAssay™ uses high-energy X-rays to determine gold content from a large sample aliquot, typically 500 g of crushed material. The method is non-destructive and is particularly suited to gold systems where larger sample aliquots may improve representativity. If additional nominal 500-gram PhotonAssayTM analysis splits are conducted for a given sample, results from all splits are combined on a weight average basis. A second portion was pulverized such that 85% of the sample passed 75 µm, (PUL-31) and was analyzed by four-acid digestion with ICP-MS finish for 48 elements (ME-MS61), along with aqua regia digestion with ICP-MS finish for trace levels of mercury (Hg-MS42).

Quality assurance and quality control (QA/QC) protocols included the insertion of certified reference material every 20 samples, blank samples at rate of every 25 samples and field duplicate samples (split from the original 1.5 m for RC or 1.5 m for core intervals) every 25 samples. All QA/QC results returned values within acceptable limits.

About Tectonic Metals Inc.

Tectonic Metals Inc. is a mineral exploration company focused on exploring and developing its flagship Flat Gold Project in southwestern Alaska, covering 99,840 acres of predominantly Native-owned land belonging to Doyon, Ltd., a leading Alaska Native Regional Corporation and one of Tectonic’s largest shareholders. The current focus is on advancing the Chicken Mountain target, one of six multi-kilometre-scale intrusion zones at the Flat Gold Project, towards the Company’s maiden Mineral Resource Estimate in Q1 2027.

Founded by key members of the Kaminak Gold team behind the discovery and advancement of the Coffee Gold Project, which was acquired by Goldcorp for $520 million in 2016, Tectonic brings a proven track record in exploration, project advancement, capital markets and value creation. Collectively, the team has helped identify more than 40 million ounces of gold, advanced 20 projects through to feasibility, permitted 25 projects, completed over $6 billion in mergers and acquisitions and raised more than $6 billion in capital.

Tectonic’s mission is to be a shift in the game: working for our shareholders and the communities where we operate, putting people first, playing big and staying true to our word every step of the way.

On behalf of Tectonic Metals Inc.,  
Tony Reda, President and Chief Executive Officer

For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact:

Keren Yun, Vice President, Investor Relations
1-888-685-8558 or [email protected]

Release – Snail Games Subsidiary Interactive Films Launches The Fame Game II: L.A. Heartbreaker, Expanding Its Interactive Hollywood Drama Franchise

Posted on by [email protected]

October 15, 2026 at 8:30 AM EDT

CULVER CITY, Calif., Oct. 15, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today announced the launch of The Fame Game II: L.A. Heartbreaker, the next installment in its interactive entertainment franchise developed and published by its subsidiary Interactive Films LLC.

The Fame Game II: L.A. Heartbreaker builds on the foundation established by The Fame Game: Welcome to Hollywood with a new story centered around identity, ambition, romance, and the high-stakes social world of Los Angeles. Filmed on location throughout Los Angeles by a professional production team with Hollywood film and television experience, the game incorporates feature-film-inspired direction, cinematography, lighting, costume, makeup, and production design to bring its setting to life.

The new installment follows He Shuhan, an ordinary international student who finds himself drawn into Los Angeles’ high society after assuming the identity of a wealthy heir. To maintain the deception, players must navigate five dangerous relationships and make hundreds of choices that shape those relationships, the story’s progression, and potential outcomes. Depending on the decisions made, players may preserve the illusion, lose everything, or uncover relationships that challenge the identity they have created.

Interactive Films expanded audience participation in the development of The Fame Game II: L.A. Heartbreaker through a global casting initiative that drew in more than 200,000 votes that helped shape the game’s cast. The live-action production stars Zhong Chenyao as Ayaka alongside four additional actresses, whose performances bring the game’s central relationships and branching narrative to life.

The expansion of The Fame Game series reflects continued interest in interactive entertainment built around character-driven storytelling and player agency. Relationship-focused games have increasingly moved beyond traditional dating-simulation formats, incorporating cinematic presentation, branching narratives, and community-driven experiences that allow players to engage with stories through their own decisions.

The Fame Game II: L.A. Heartbreaker advances Interactive Films’ combination of accessible interactive fiction and live-action entertainment. The title is designed to encourage replayability as players explore different relationships, choices, and consequences across multiple possible outcomes.

Play The Fame Game II: L.A. Heartbreaker on Steam

For creators interested in covering The Fame Game II: L.A. Heartbreaker, please reach out to [email protected]

The Fame Game II: L.A. Heartbreaker | Press Kit

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/.

About Interactive Films LLC 
Interactive Films (IF), a film and media subsidiary of Snail, Inc., was founded with the goal of reaching new video audiences, engaging enthusiastic viewers, and telling stories across various formats. IF is also the catalyst behind SaltyTV, a specialized film application designed to produce and showcase compelling short-form vertical content. The SaltyTV app is available for download from the iOS App Store and the Google Play Store. For more information, please visit: https://interactive-films.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 the continued interest in interactive entertainment built around character-driven storytelling and player agency; further developing a format that combines the accessibility of interactive fiction with live-action entertainment; using SaltyTV to produce and showcase compelling short-form vertical content; 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 develop new intellectual properties and expand existing franchises through its proprietary development capabilities; 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]

NanoViricides (NNVC) – Ebola Trial Reports Ongoing Enrollment Progress

Posted on by [email protected]

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

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

Patient Enrollment and Treatment Continue. Nanoviricides provided an update on the progress of its Phase 2a trial in Ebola, including additional details on its design, endpoints, and objectives. The Phase 2a trial began treating patients with NV-387 in the Democratic Republic of Congo (DRC) in late September. The company reported that enrollment is continuing, with data expected in 1Q27. 

Stages Of Infection Are Emerging. The current outbreak of Ebola virus disease (EVD) in the DRC has been caused by a new variant of the Bundibugyo Ebolavirus (BDBV). The development of symptoms varies between patients, and its diagnosis is still being refined. During the first 5 to 7 days after initial infection, mild symptoms may not even be noticeable. Patients typically seek treatment after about 5 to 7 days, when they begin vomiting and have severe diarrhea. The trial is expected to enroll most patients at this stage.


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