Consumer Spending, While Draining Bank Accounts, Could Prolong Fed Tightening
Economics is a social science, and as such, it’s based largely on human behavior, with mathematical models then used to assess decisions and predict outcomes. The U.S. government published consumer savings rates during the first week of October. The results are in line with what economists would expect when the masses’ ability to live the same lifestyle as before is challenged by either high inflation, fewer jobs, or both. There is a delayed effect on consumers’ behavior in the face of higher prices, this is impacting debt levels and savings rates. Also, the upper echelons of earners are not as inclined to cut back, which could make the Fed’s job trickier.
One recognized principle of economics that has proven true throughout history is related to adding stimulus and taking stimulus away and changes in spending. When more money is put in the hands of the citizenry, whether by tax decreases, or direct stimulus checks, that money will be put to work (spent), fairly quickly. Especially by those whose lives would most be impacted, those with stricter budgets. When discretionary income decreases or prices rise, consumers don’t react as quickly. We can think of the reasons why in this way; one is that fixed costs can’t change as quickly if income goes down as they can if the ability to spend increases. The other reason is that we tend to adjust on the downside more slowly while still doing many things that we can not as easily afford to do.
Put another way, we accelerate spending quickly when money is more available than we brake when it becomes less available; in fact, households tend to take their foot off the accelerator, even if it keeps them spending at a pace that puts their household finances in jeopardy.
The Post-Covid Economy is Confounding
At the turn of the year, consumers were thought to have built up about $2.4 trillion of excess savings during the pandemic. Many economists argued the economy would be able to avoid a recession, even as the Fed aggressively raised interest rates. Many of these economists, joined by business owners and investors, are changing their odds of a soft landing; many are still expecting a quick rebound as consumers are believed to have exited the pandemic in strong financial shape.
New data about U.S. consumer savings, however, and a look at consumer finances suggest that they may be overestimating the long-term resilience of consumers.
Last week the FDIC shed some light on savings rates, and the Bureau of Economic Analysis (BEA) provided information on Personal Consumption Expenditures (PCE).
Downward revisions to the savings rate indicated that households had used a much bigger proportion of pandemic savings than seen in previous data, and the starting point is now believed to have been smaller.
According to previous data, through July, households had spent about $270 billion, or 11% of peak excess savings of $2.4 trillion. The updated data show that the peak savings stock was $2.1 trillion. Also, about $630 billion, or 31%, has already been spent.
The $1.4 trillion that is in savings is still no small amount of money. But, Nancy Lazar, chief global economist at Piper Sandler, told Barron’s that it’s not enough to prevent credit-card borrowing from ballooning and consumer delinquencies from climbing. Credit-card loans are now 6% above their pre-pandemic high. With rates climbing, 60% of revolving debt is extending out and being carried for one year or longer.
“Delinquency risk is rising, especially for low-end consumers who have exhausted their excess savings,” Lazar said.
Lazar told the journal that she calculates the composite 30-day delinquency rate across big financial institutions, like American Express (AXP), and JPMorgan Chase (JPM), to have risen to 0.82% at the end of August from 0.78% a year earlier. More evidence comes from data from Kroll Bond Rating Agency that showed subprime auto-loan delinquencies are climbing higher, and even prime auto-loan delinquencies are moving up. And Affirm Holdings (ticker: AFRM), which is a buy-now and pay-later company, reported a 290% year-over-year increase in its provision for credit losses.
What Fed Governors Want
Is this “bad news” actually “good news” for stocks and bonds? If consumers have lower means than thought when the Fed began its tightening, this could give hope to those investors that are looking for the Fed to pivot back to an easier policy stance. But economics seldom plays out with just one or two inputs.
Another piece of information economists look at is the Labor Department’s Consumer Expenditure Survey data. Overall, 60% of consumption in the U.S. are from the top 40% of income earners. The lowest quintile, the lowest 20% of earners, those with less discretionary income, make up only 9% of consumption in the U.S.
So the Fed’s predicament has them needing to squelch the relatively high level of consumption of the top 40% that can still pay for the same lifestyle without reducing consumption, and at the same time not overly disrupt those that will feel the impact the most, the lowest 20% of earners in the country.
Take Away
It seems that in the broadest sense, the Fed has impacted consumption in the group that will impact consumption least. Those that would impact the pace of the economy and inflation most are not yet putting their wallets away. This increases the degree of difficulty the Fed faces when working to bring inflation down to the 2% target.
The Employment Report Can be Viewed as Good for Economic Resilience
Does the Fed need to slow its tightening plans? Thankfully no, and darn it, no. On Friday, a report showed the U.S. economy created 263,000 jobs in September; this confirms a strong labor market, albeit one that has begun to slow somewhat. While this is a deceleration in jobs growth from the 315,000 jobs added in August, the report confirms broad-based strength in the labor market, at the average of what economists had been forecasting.
Why this is Positive for Stocks
The Fed has two main mandates, keep inflation in check (price stability), and make sure people have jobs (maximum employment). Friday’s report offers the clearest sign yet that the labor market is still showing considerable strength, although off its peak, as tighter monetary policy and higher labor costs begin to weigh on demand for workers. Although a slight cooling is evident, there is nothing in the report to suggest the Fed will alter its aggressive path of tightening monetary policy.
The cooling of the labor market is desirable when working to tame inflation. But it is likely employment is still promoting price pressures for labor. The number should confirm that the Fed is inclined to hike rates by a fourth consecutive 0.75% in November.
Of particular concern, as it relates to inflation, for the Fed is the continued strength in wages and decline for the month in labor-force participation, which remains well below its pre-pandemic level. The lack of workers allows inflationary bargaining power to those in the workforce or seeking work.
Growth in average hourly earnings, which had slowed in August, remained steady in September, with wages climbing another 0.3%. And the labor-force participation rate erased a bit and was down 0.1 percentage point to 62.3% as fewer U.S. citizens looked for work than the month before. That contributed to the drop in the unemployment rate, which fell from 3.7% in August to 3.5%.
On the Downside
The resolve of this Fed can be stated this way, as long as the labor market remains healthy, they will remain hyper-focused on reining in inflation without concern for people’s 401ks or other distractions. They can afford to kill a few jobs, and bond or stock investors are not on the Fed’s list of primary concerns.
News to Use From Jobs Report?
Jobs were added in a number of industries, with big gains in the healthcare, leisure, and hospitality sectors. These are industries where positions had been lost during the pandemic. The construction industry, which many economists expected would shrink, added 19,000 jobs in September, in line with the average monthly growth so far this year in construction.
On the bad side, the retail sector lost more than 1,000 jobs in September. It remains broadly strong after three months of gains, 1000 across the population is not yet a concern.
The numbers reflect ongoing catch-up in hiring. Employers are still working to fill jobs lost during steps taken related to Covid-19 fears; the increased demand in many areas makes it difficult to find enough workers. The scenario could keep the labor market strong over the coming months, even if the Fed is successful in slowing the broader economy.
Other data not headlined in the labor market report shows signs the labor market remains strong. The number of workers who were employed part-time for economic reasons, meaning they would have preferred full-time work but had seen their hours cut or were unable to find full-time work, declined by 306,000 in September after rising for two straight months. More work, if wanted, is a strong factor that gives the Fed breathing room.
Another very telling group that showed employment expansion is not as robust as the numbers suggest, is the increased hiring of temporary help. Companies tend to release temporary workers; first, this type of work continued to rise. The sector added another 27,000 jobs in September.
Take Away
Employment remained strong through September. While this may indicate the Fed can continue to raise rates at will for stock market participants, it also means businesses have the potential for more output. So, while the headline news may scream rates ‘will go up!’ and ‘markets should beware!’, the better message is businesses continue to hire. This is especially true for leisure and less accurate for retail companies; the economy can be expected to keep plodding along if everyone who wants a job has a job.
Leading medical center in San Antonio acquires BioSig’s novel digital signal processing technology for arrhythmia care
Westport, CT, Oct. 07, 2022 (GLOBE NEWSWIRE) — BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the “Company”) an advanced digital signal processing technology company delivering unprecedented accuracy and precision to intracardiac signal visualization with its proprietary PURE EP™ System, today announced that San Antonio Methodist Hospital has acquired the PURE EP™ System.
The acquisition, one of many in the pipeline, reaffirms the continued expansion of BioSig’s U.S. footprint and customer base.
“As we continue to advance the national commercial rollout of the PURE EP™ System, we are thrilled to introduce our technology to Methodist Hospital in San Antonio,” said Gray Fleming, Chief Commercial Officer, BioSig Technologies, Inc. “We believe that the PURE EP™ System enhances EP lab infrastructure by integrating with existing workflows and delivers critical signals of interest that are not visible on conventional systems.”
“PURE EP™ delivers great value to our lab across many different types of ablations. By uncovering new levels of clarity of intracardiac signals, PURE EP™ opens doors to the benefits of signal processing in the digital domain,” commented David N. Pederson, MD, Clinical Cardiac Electrophysiologist, Methodist Hospital, San Antonio, TX.
About Methodist Healthcare
Methodist Healthcare is recognized as a leading healthcare provider in South Texas, offering an outstanding selection of doctors, healthcare professionals, equipment and health services. The hospital belongs to a network of hospitals in the greater San Antonio area, including nine acute care facilities: Methodist Hospital, Methodist Children’s Hospital, Methodist Hospital Metropolitan, Methodist Hospital Northeast, Methodist Hospital Atascosa, Methodist Hospital Specialty and Transplant, Methodist Hospital Stone Oak and Methodist Hospital Texsan.
About BioSig Technologies
BioSig Technologies is an advanced digital signal processing technology company bringing never-before-seen insights to the treatment of cardiovascular arrhythmias. Through collaboration with physicians, experts, and healthcare leaders across the field of electrophysiology (EP), BioSig is committed to addressing healthcare’s biggest priorities — saving time, saving costs, and saving lives.
The Company’s first product, the PURE EP™ System, an FDA 510(k) cleared non-invasive class II device, provides superior, real-time signal visualization allowing physicians to perform insight-based, highly targeted cardiac ablation procedures with increased procedural efficiency and efficacy.
The PURE EP™ System is currently in a national commercial launch and an integral part of well-respected healthcare systems, such as Mayo Clinic, Texas Cardiac Arrhythmia Institute, Cleveland Clinic, and Kansas City Heart Rhythm Institute. In a blinded clinical study recently published in the Journal of Cardiovascular Electrophysiology, electrophysiologists rated PURE EP™ as equivalent or superior to conventional systems for 93.6% of signal samples, with 75.2% earning a superior rating.The global EP market is projected to reach $16B in 2028 with a 11.2% growth rate.1
Forward-looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward- looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market conditions and the Company’s intended use of proceeds, (ii) the geographic, social and economic impact of COVID-19 on our ability to conduct our business and raise capital in the future when needed, (iii) our inability to manufacture our products and product candidates on a commercial scale on our own, or in collaboration with third parties; (iv) difficulties in obtaining financing on commercially reasonable terms; (v) changes in the size and nature of our competition; (vi) loss of one or more key executives or scientists; and (vii) difficulties in securing regulatory approval to market our products and product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
TORONTO, ON / ACCESSWIRE / October 7, 2022 / Eskay Mining Corp. (“Eskay” or the “Company”) (TSXV:ESK) (OTCQX:ESKYF) (Frankfurt:KN7)(WKN:A0YDPM) is pleased to announce it has completed 29,500 m of diamond core drilling substantially fulfilling its planned meterage for the 2022 property wide exploration campaign. Over the past four months, drilling has been conducted at multiple volcanogenic massive sulfide (“VMS”) targets including Jeff, Jeff North, Scarlet Ridge, Scarlet Valley, and Tarn Lake. Drilling has now been completed and the Company is currently demobilizing.
“As the 2022 exploration season is drawing to a close, we have met all of our primary objectives,” commented Dr. John DeDecker, Eskay Mining’s VP of Exploration. “We have now drill tested the full extent of the TV-Jeff trend, conducted systematic mapping and extensive rock chip sampling of the Scarlet Ridge-Tarn Lake trend, and conducted exploratory drilling at three highly prospective and previously undrilled targets, Scarlet Ridge, Scarlet Valley and Tarn Lake. Our prospecting and mapping teams have also conducted reconnaissance level work at Spearhead, Vermillion, Tet, SIB-Lulu, Excelsior, and Harrymel Valley, laying the groundwork for an expansive push to drill test numerous additional targets in 2023. “
Step-out drilling of the Upper Massive Sulfide Zone has confirmed that semi-massive and massive sulfide mineralization overlies the entire stockwork zone at TV thus significantly expanding the along-strike and down-dip extent of this important body of mineralization.
Maiden drilling at Scarlet Valley and Tarn Lake yielded core displaying intense stockwork and replacement-style sulfide mineralization and hydrothermal alteration focused along east-west trending andesite dikes. Replacement-style mineralization and hydrothermal alteration of volcaniclastic debris flow breccia at Scarlet Valley provide an encouraging sign that the VMS feeder structures may have fed laterally extensive replacement-style mineralization along favorable stratigraphic horizons.
Highlights from TV Drilling:
Drilling at TV, the last to be undertaken this season, focused on extensions of the Upper Massive Sulfide Zone discovered in 2021. Drill holes TV22-105, 107, 109, 110, 111, and 113 target areas east and up-section from the large stockwork zone defined by drilling in 2021 (Figure 1). All of these holes have intercepted semi-massive to massive sulfide over intervals ranging from 4-18 meters and tens of meters of additional footwall replacement-style and stockwork sulfide mineralization hosted by andesite and dacite breccia, and silicified mudstone (Figures 2-4).
Extensions of the Upper Massive Sulfide Zone overlie intensely silicified mudstones in the stockwork zone, consistent with a near-seafloor position.
Handheld XRF analyses of massive and semi-massive sulfides hosted by carbonaceous mudstone display strongly anomalous concentrations of pathfinder elements Ag, As, and Sb; stockwork mineralization displays strongly elevated levels of pathfinder elements As and Sb; and readings from massive sulfide display very high concentrations of pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.
Highlights from Tarn Lake Drilling:
Drilling at Tarn Lake focused on a large gossanous outcrop associated with visible sulfide and sulfosalt mineralization hosted within Eskay rhyolite (Figure 5). Sulfide mineralization is focused around east-west trending andesitic dikes that are interpreted to have exploited the same syn-volcanic structure that fed VMS forming fluids. Nine drill holes were completed at Tarn Lake.
Hole TN22-10 intercepted approximately 10 m of semi-massive replacement style mineralization (Figures 6 and 7), and ubiquitous disseminated sulfide mineralization associated with sulfide stockwork (Figure 7).
Early results show pervasive stockwork and disseminated sulfide mineralization in all drill holes completed at Tarn Lake. Handheld XRF readings display very high concentrations of pathfinder elements Ag, As, and Sb within stockwork and semi-massive and massive sulfide mineralization. Handheld XRF cannot reliably measure Au concentrations.
Rhyolite-hosted sulfide mineralization at Scarlet Knob, situated approximately 1 km to the northeast of Tarn Lake, is likely structurally offset from the Tarn Lake VMS system, displaced along a dextral shear zone.
Highlights from Scarlet Valley Drilling:
Drilling at Scarlet Valley (Figure 8) targeted a large east-west trending gossan associated with intense stockwork sulfide mineralization. Mineralization is focused along east-west trending andesite dikes that crosscut volcaniclastic debris flow breccia. Debris flow breccia in the western part of Scarlet Valley contains rhyolite clasts, while debris flow breccia to the east is dominated by andesite clasts. Both andesite and the debris flow breccia exhibit replacement-style sulfide mineralization (Figures 9-13), in some cases, sulfide replacement being intense.
Core from hole SV22-05 displays intense silicification and sulfide replacement of volcaniclastic debris flows, a promising sign that permeable sedimentary horizons may host lateral extensions of replacement-style mineralization.
Handheld XRF analyses of sulfide minerals in drill core display high concentrations of pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.
Dr. Quinton Hennigh, P. Geo., a Director of the Company and its technical adviser, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.
About Eskay Mining Corp:
Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the “Golden Triangle,” 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).
All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.
For further information, please contact:
Mac Balkam President & Chief Executive Officer T: 416 907 4020 E: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
(Figure 1: Section of TV showing locations of 2022 drill holes. Drilling focused on targeting along-strike, up-dip, and down-dip extensions of the stockwork zone and massive sulfide horizons discovered in 2020-2021.
(Figure 2: TV22-109 56.84-63.80 m showing an intercept of ~6 m of massive sulfide underlain by a fault hosted by carbonaceous mudstone. Most massive sulfide at TV is fault bounded on the bottom, with a few meters of mixed and broken massive sulfide and carbonaceous mudstone before the stockwork zone is intercepted. Handheld XRF analyses of the massive sulfide show very high concentrations of the Au pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.TV22-109 101.12-110.87 shows a typical intercept of the replacement-style mineralization hosted by andesite breccia.)
(Figure 3: TV22-111 52.0-61.13 m showing a mudstone-hosted massive sulfide intercept. Sulfide mineralization begins ~10 m above the massive sulfide horizon, and is characterized by ~20% pyrite hosted within sheared peperitic andesite and dacite. The massive sulfide is underlain by faulted mudstone and andesite breccia, both of which contain appreciable sulfide mineralization. Handheld XRF analyses of the massive sulfide show very high concentrations of the Au pathfinder elements Ag, As, and Sb. Handheld XRF cannot reliably measure Au concentrations.)
(Figure 4: TV22-110 78.04-87.91 showing stockwork sulfide mineralization hosted by intensely silicified mudstone. Handheld XRF analyses of sulfides hosted by silicified mudstone invariably show very high concentrations of the Au pathfinders Ag, Sb, and As. Handheld XRF cannot reliably measure Au concentrations. TV22-110 123.79-131.20 showing a sheared andesite breccia hosting replacement-style sulfide mineralization.)
(Figure 5: Map showing the drill traces for Tarn Lake shown with drone imagery of gossanous rhyolite focused around east-west trending andesite dikes.)
(Figure 6: TN22-10 90.83-100.0 m showing semi-massive replacement style sulfide mineralization hosted by Eskay rhyolite. This interval shows consistently high concentrations of the pathfinder elements Ag, As, and Sb.)
(Figure 7: TN22-10 94.50-94.60 showing a close-up of semi-massive replacement-style mineralization hosted by rhyolite breccia. This type of sulfide mineralization shows the highest pathfinder element concentrations. TN22-10 123.85-123.95 showing stockwork sulfide and vesicle-hosted disseminated sulfide mineralization. This style of mineralization is ubiquitous at Tarn Lake. Accurate handheld XRF analyses of disseminated mineralization is impossible given the small size of the disseminations and consequent mixed analyses of sulfide and host silicate material. Analyses of larger stockwork veins throughout the Tarn Lake drill holes shows the presence of Ag, suggesting that disseminated sulfides may host Ag as well.)
Figure 8: Map showing the drill traces for Scarlet Valley shown with drone imagery of gossanous rhyolite-bearing volcaniclastic debris flow deposits focused along east-west trending andesite dikes.
Figure 9: SV22-05 at approximately 21.5 m showing moderate sulfide replacement of both the groundmass and clasts of a volcaniclastic debris flow breccia. This observation shows that sulfide mineralization occurred after the deposition of the debris flow breccia. Volcanic clasts are andesitic in composition.
Figure 10: SV22-05 at approximately 37 m showing progression from a mineralized volcaniclastic debris flow breccia with a carbonaceous mudstone groundmass, to an intensely clay altered and silicified debris flow breccia with patchy sulfide replacement. Volcanic clasts are andesitic in composition.
Figure 11: SV22-05 from approximately 55-57.5 m showing variably intense sulfide replacement of the host volcaniclastic debris flow breccia. This rock is intensely silicified and variably clay altered, with the lighter colored rock being more intensely clay altered.
Figure 12: SV22-05 at approximately 84.8-87 showing an andesite dike adjacent to a faulted mudstone (top row), followed by a volcaniclastic debris flow breccia with large perlitic andesite clast and other andesitic fragments. Sulfide mineralization is hosted by fine fractures within the andesite, but is more widespread in the more permeable debris flow breccia, highlighting the potential for such horizons to host lateral extensions of replacement-style mineralization.
Figure 13: SV22-05 at approximately 155.8 m showing intense clay alteration and sulfide replacement of an andesitic hyaloclastic breccia. Clasts fit together well, precluding a sedimentary origin. Sulfide minerals are preferentially replacing the cores of larger breccia fragments, and infilling between hyaloclastic fragments.
Exercise is well-known to help people lose weight and avoid gaining it. However, identifying the cellular mechanisms that underlie this process has proven difficult because so many cells and tissues are involved.
In a new study in mice that expands researchers’ understanding of how exercise and diet affect the body, MIT and Harvard Medical School researchers have mapped out many of the cells, genes, and cellular pathways that are modified by exercise or high-fat diet. The findings could offer potential targets for drugs that could help to enhance or mimic the benefits of exercise, the researchers say.
“It is extremely important to understand the molecular mechanisms that are drivers of the beneficial effects of exercise and the detrimental effects of a high-fat diet, so that we can understand how we can intervene, and develop drugs that mimic the impact of exercise across multiple tissues,” says Manolis Kellis, a professor of computer science in MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) and a member of the Broad Institute of MIT and Harvard.
The researchers studied mice with high-fat or normal diets, who were either sedentary or given the opportunity to exercise whenever they wanted. Using single-cell RNA sequencing, the researchers cataloged the responses of 53 types of cells found in skeletal muscle and two types of fatty tissue.
“One of the general points that we found in our study, which is overwhelmingly clear, is how high-fat diets push all of these cells and systems in one way, and exercise seems to be pushing them nearly all in the opposite way,” Kellis says. “It says that exercise can really have a major effect throughout the body.”
Kellis and Laurie Goodyear, a professor of medicine at Harvard Medical School and senior investigator at the Joslin Diabetes Center, are the senior authors of the study, which appears today in the journal Cell Metabolism. Jiekun Yang, a research scientist in MIT CSAIL; Maria Vamvini, an instructor of medicine at the Joslin Diabetes Center; and Pasquale Nigro, an instructor of medicine at the Joslin Diabetes Center, are the lead authors of the paper.
The Risks of Obesity
Obesity is a growing health problem around the world. In the United States, more than 40 percent of the population is considered obese, and nearly 75 percent is overweight. Being overweight is a risk factor for many diseases, including heart disease, cancer, Alzheimer’s disease, and even infectious diseases such as Covid-19.
“Obesity, along with aging, is a global factor that contributes to every aspect of human health,” Kellis says.
Several years ago, his lab performed a study on the FTO gene region, which has been strongly linked to obesity risk. In that 2015 study, the research team found that genes in this region control a pathway that prompts immature fat cells called progenitor adipocytes to either become fat-burning cells or fat-storing cells.
That finding, which demonstrated a clear genetic component to obesity, motivated Kellis to begin looking at how exercise, a well-known behavioral intervention that can prevent obesity, might act on progenitor adipocytes at the cellular level.
To explore that question, Kellis and his colleagues decided to perform single-cell RNA sequencing of three types of tissue — skeletal muscle, visceral white adipose tissue (found packed around internal organs, where it stores fat), and subcutaneous white adipose tissue (which is found under the skin and primarily burns fat).
These tissues came from mice from four different experimental groups. For three weeks, two groups of mice were fed either a normal diet or a high-fat diet. For the next three weeks, each of those two groups were further divided into a sedentary group and an exercise group, which had continuous access to a treadmill.
By analyzing tissues from those mice, the researchers were able to comprehensively catalog the genes that were activated or suppressed by exercise in 53 different cell types.
The researchers found that in all three tissue types, mesenchymal stem cells (MSCs) appeared to control many of the diet and exercise-induced effects that they observed. MSCs are stem cells that can differentiate into other cell types, including fat cells and fibroblasts. In adipose tissue, the researchers found that a high-fat diet modulated MSCs’ capacity to differentiate into fat-storing cells, while exercise reversed this effect.
In addition to promoting fat storage, the researchers found that a high-fat diet also stimulated MSCs to secrete factors that remodel the extracellular matrix (ECM) — a network of proteins and other molecules that surround and support cells and tissues in the body. This ECM remodeling helps provide structure for enlarged fat-storing cells and also creates a more inflammatory environment.
“As the adipocytes become overloaded with lipids, there’s an extreme amount of stress, and that causes low-grade inflammation, which is systemic and preserved for a long time,” Kellis says. “That is one of the factors that is contributing to many of the adverse effects of obesity.”
Circadian Effects
The researchers also found that high-fat diets and exercise had opposing effects on cellular pathways that control circadian rhythms — the 24-hour cycles that govern many functions, from sleep to body temperature, hormone release, and digestion. The study revealed that exercise boosts the expression of genes that regulate these rhythms, while a high-fat diet suppresses them.
“There have been a lot of studies showing that when you eat during the day is extremely important in how you absorb the calories,” Kellis says. “The circadian rhythm connection is a very important one, and shows how obesity and exercise are in fact directly impacting that circadian rhythm in peripheral organs, which could act systemically on distal clocks and regulate stem cell functions and immunity.”
The researchers then compared their results to a database of human genes that have been linked with metabolic traits. They found that two of the circadian rhythm genes they identified in this study, known as DBP and CDKN1A, have genetic variants that have been associated with a higher risk of obesity in humans.
“These results help us see the translational values of these targets, and how we could potentially target specific biological processes in specific cell types,” Yang says.
The researchers are now analyzing samples of small intestine, liver, and brain tissue from the mice in this study, to explore the effects of exercise and high-fat diets on those tissues. They are also conducting work with human volunteers to sample blood and biopsies and study similarities and differences between human and mouse physiology. They hope that their findings will help guide drug developers in designing drugs that might mimic some of the beneficial effects of exercise.
“The message for everyone should be, eat a healthy diet and exercise if possible,” Kellis says. “For those for whom this is not possible, due to low access to healthy foods, or due to disabilities or other factors that prevent exercise, or simply lack of time to have a healthy diet or a healthy lifestyle, what this study says is that we now have a better handle on the pathways, the specific genes, and the specific molecular and cellular processes that we should be manipulating therapeutically.”
DENVER, Oct. 6, 2022 /PRNewswire/ – Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), is pleased to announce that Justin Dye, Chairman & CEO will present to investors in a live VID Forum Town Hall on Tuesday, October 11, 2022, at 11:00 am EST. Management will field moderated Q&A from investors and interested parties after their presentation. Please sign up here to register.
The Webinar will be interactive and will be hosted by VID Conferences. All stakeholders and interested investors are welcome to tune in and participate with questions. The playback will then be available on the Company’s website.
About Schwazze
Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices. Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc.
Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.
Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.
THE CURRENT NASCAR TEAMS, DRIVERS AND CARS ARE SET TO BE PLAYABLE ACROSS IGNITION, NASCAR HEAT 5 AND NASCAR HEAT MOBILE
MIAMI, Oct. 06, 2022 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, announced today the official launch of the NASCAR 21: Ignition (“Ignition”) 2022 Season Expansion Update to reflect the 2022 NASCAR Cup Series season. Updates to the title, available for free, will be seen across Race Now, Online Multiplayer and the Paint Booth and is available for download for Sony PlayStation 4 and 5, Xbox One, Series S and X and PC through the Steam store.
For current owners of Ignition, both Standard and Champion Editions will be able to download the update for free, while those who do not currently own the game can purchase Ignition at a reduced price point ($19.99 USD) and then receive the free install. Additionally, NASCAR 21: Ignition – Victory Edition is available, which will include the Season Pass 1 (2021 DLC content), 2022 Season Expansion and Season Pass 2 (2022 DLC content). A first look at the new features within the game can be seen in a trailer here.
“We are thrilled to add the 2022 Season Expansion Update into Ignition today so that our fans can enjoy the most up to date content for this historic season,” said Jay Pennell, Brand Manager, NASCAR at Motorsport Games. “The update comes at a great time as well, with the NASCAR Cup Series Playoffs currently in full swing. Just as the Next Gen cars have added unique elements to the real-life grid, they will now add those same factors into the digital racing world for players. It was also imperative for us to be able to replicate the newest content across all of our titles, something that has been achieved and we cannot wait for players of Ignition, NASCAR Heat 5 and NASCAR Heat Mobile to all enjoy the 2022 content moving forward.”
The Ignition 2022 Season Expansion Update provides a number of refreshed features for the title, including a UI refresh, upgraded HUD, newly recorded broadcast introductions from Motor Racing Network’s On-Air Announcer, Alex Hayden and the current 2022 NASCAR Cup Series racetracks from both the regular season and playoffs. The 2022 lineup of drivers, teams and paint schemes have been directly pulled from the 2022 season, as well as all three Next Gen car models from Chevrolet, Ford and Toyota.
In addition to being available to owners of Ignition, the 2022 Season Expansion Update will be released on NASCAR Heat 5 and NASCAR Heat Mobile. Players will be able to purchase the 2022 Season Expansion Update on NASCAR Heat 5 for $12.34, starting October 21, 2022. The 2022 Season Expansion will arrive as a free update on NASCAR Heat Mobile, starting October 27, 2022. With these updates, NASCAR’s 2022 season will be reflected across all of Motorsport Games’ NASCAR properties. Players will be able to utilize the cars, drivers and teams from the 2022 NASCAR Cup Series season in Race Now, Career Mode and Online Multiplayer in NASCAR Heat 5 as purchasable downloadable content, and as a free content update within NASCAR Heat Mobile.
About Motorsport Games: Motorsport Games, a Motorsport Network company, is a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make the joy of racing accessible to everyone. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), as well as the industry leading rFactor 2 and KartKraft simulations. rFactor 2 also serves as the official sim racing platform of Formula E, while also powering Formula 1™ centers through a partnership with Kindred Concepts. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires.
Forward-Looking Statements: Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the timing, participants and expected benefits of NASCAR 21: Ignition 2022 Season Expansion Update and related products and updates. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, without limitation: difficulties, delays in or unanticipated events that may impact the timing and expected benefits of the NASCAR 21: Ignition 2022 Season Expansion Update and/or related products and updates, such as due to unexpected release delays. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on Form 10-Q filed with the SEC during 2022, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.
Website and Social Media Disclosure:
Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):
NEW YORK, NY / ACCESSWIRE / October 6, 2022 / Engine Gaming and Media, Inc. (“Engine” or the “Company”) (NASDAQ:GAME) (TSXV:GAME), a data-driven, gaming, media and influencer marketing platform company, today announced that it has commenced a process to explore and evaluate strategic options to enhance and preserve shareholder value.
“Maximizing shareholder value has always been our first priority,” stated, Lou Schwartz, Engine’s Chief Executive Officer, “and to that end, throughout 2022, Engine has been aggressively cutting costs and focusing its business lines and initiatives with the goal of accelerating our timeline to achieving profitability. In support of, and in parallel to this objective, we believe the commencement of our strategic process will be helpful in connecting with third parties who could be synergistic with our existing businesses or in providing new opportunities for the Company and its shareholders.”
Tom Rogers, Executive Chairman of the Company, added, “As I have indicated on our last couple of earnings calls, with a large number of small cap companies with distressed stock price situations similar to our own, we feel this is an environment full of opportunity for discussions with various parties to assess how mutual ambitions to create greater scale in a tough economy can be better realized.”
Potential strategic options to be explored or evaluated as part of this process may include, but are not limited to, merger, reverse merger, acquisition, other business combination, sale of assets, partnerships, joint ventures, licensing, or other strategic transactions involving Engine. The Company has not set a timetable for completion of this process and does not expect to disclose developments with respect to this process unless and until the evaluation of strategic alternatives has been completed or the Company’s Board of Directors has concluded disclosure is appropriate or legally required.
Engine has engaged KPMG Corporate Finance, Inc. and Haywood Securities, Inc. as the Company’s exclusive financial advisors to assist in this process.
About Engine Gaming and Media, Inc.
Engine Gaming and Media, Inc. (NASDAQ:GAME) (TSX-V:GAME) provides unparalleled live streaming data and social analytics, influencer relationship management and monetization, and programmatic advertising to support the world’s largest video gaming companies, brand marketers, ecommerce companies, media publishers and agencies to drive new streams of revenue. The Company’s subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; and Frankly Media, a digital publishing platform used to create, distribute, and monetize content across all digital channels. Engine generates revenue through a combination of software-as-a-service subscription fees, managed services, and programmatic advertising. For more information, please visit www.enginegaming.com.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In respect of the forward-looking information contained herein, Engine has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release.
The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Engine does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investor Relations Contact: Shannon Devine MZ North America Main: 203-741-8811 [email protected]
VIRGINIA CITY, NEVADA, OCTOBER 6, 2022 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced that its Executive Chairman and CEO, Corrado De Gasperis, is presenting at the 12th Annual Invitational LD Micro Main Event in Los Angeles on Wednesday, October 26, 2022, at 4:00 p.m. PDT.
“We look forward to presenting at the LD Micro conference as we accelerate the commercialization of our decarbonization technologies for transportation and broader mobility applications,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Our cellulosic fuels and Li-ion battery metal recycling businesses enable renewable energy solutions in massive existing and extremely fast growing markets, during a most critical time for reducing carbon.”
Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complementary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
About LD Micro (NASDAQ: SRAX)
LD Micro aims to be the most crucial resource in the micro-cap world. Whether it is the index, comprehensive data, or hosting the most significant events on an annual basis, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies.
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management considering their experience and their perception of historical and current trends, current conditions, possible future developments, and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.
Contact information:
Comstock Inc. P.O. Box 1118 Virginia City, NV 89440 www.comstock.inc
Corrado De Gasperis Executive Chairman & CEO Tel (775) 847-4755 [email protected]
Zach Spencer Director of External Relations Tel (775) 847-5272 Ext.151 [email protected]
MALVERN, Pa., Oct. 06, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced that the Company will present at two important conferences this month.
“I look forward to sharing more about our Modifier Gene Therapy platform—a novel approach to treating inherited retinal disease—during the Meeting on the Mesa, and Dr. Hopkins will provide more on COVAXIN™— a whole-virion inactivated COVID-19 vaccine candidate currently in a Phase 2/3 immuno-bridging and broadening clinical trial with the U.S. FDA—at the Vaccines Summit,” said Dr. Shankar Musunuri, PhD, MBA, Chairman, CEO & Co-Founder of Ocugen. “It’s critical that we participate in conversations about the next generation of medicine among our peers and share our contributions to the advancement of vaccines, cell and gene therapy.”
Title: COVAXIN™: A whole SARS-CoV-2 virion inactivated vaccine against COVID-19 Presenter: Robert J. Hopkins, MD, MPH & TM, FACP, FIDSA, Chief Medical Officer Date: Wednesday, October 12, 2022 Time: 6:10 – 6:30 p.m. ET Location: Sheraton Reston Hotel, Reston, VA
About Ocugen, Inc. Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve health and offer hope for patients across the globe. We are making an impact on patient’s lives through courageous innovation—forging new scientific paths that harness our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with a single product, and we are advancing research in infectious diseases to support public health and orthopedic diseases to address unmet medical needs. Discover more at www.ocugen.com and follow us on Twitter and LinkedIn.
Cautionary Note on Forward-Looking Statements This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.
A silver bullet cure, with possible indications for 150 illnesses or more, is now being researched by a few small biotech companies. The results have gotten the attention of big pharmaceutical companies.
In the world of biology, medicine, and biotechnology, there’s a new and extremely promising field of research in inflammasomes. Since the discovery 20 years ago, increasing understanding of what causes inflammation or an inflammatory response in humans and the knowledge of the mechanisms and role of inflammasomes has developed into a race to design potential drugs which target the culprit in many diseases. The problem to be solved is an overly zealous inflammatory response.
The activation of the inflammation system is to protect the body from pathogens, injury, or other dangers or irritants. While insufficient inflammation can lead to persistent infection or problems related to the initial trigger, excessive inflammation can cause chronic or systemic inflammatory diseases. While there are many medications, both over-the-counter and by prescription, to help reduce inflammation and problems associated with it, a therapy or therapies upstream could prevent an over-inflammation response at the source.
Currently, the rapid expansion of knowledge of inflammasomes’ role in various diseases has uncovered links to neurological diseases such as Parkinson’s, Alzheimer’s, and MS; metabolic disorders including type2 diabetes, and obesity; and cardiovascular diseases.
Currently, there are no approved inflammasome inhibitors; however, there are several promising early-stage trials occurring at a few focused companies. Development of therapies is the goal, with expectations of them being able to treat a myriad of ailments. Success could be similar to the discovery of penicillin when many infections quickly ceased being worrisome. The breakthrough could provide therapy or a mechanism to control one or two key inflammasomes that could suddenly provide cures or relief from many chronic problems.
Over the past few years, these inflammasome-related transactions, acquisitions, and partnerships have taken place:
Ventus Therapeutics- On September 29, 2022, Ventus received $70 million upfront, with the agreement for additional milestones of up to $633 million, also royalty payments and R&D funding from Novo Nordisk to license Ventus’s brain penetrant inflammasome (NLRP3) inhibitor – Ventus is a privately held company that retains full rights.
Cerevance – August 9, 2022 Cerevance received $25 million upfront, with the agreement for additional milestones up to $1.1 billion, with potential for royalty payments from Merck on sales of approved products derived from the strategic research collaboration of Alzheimer’s targets using Cerevance’s NetSseq platform. (Pre-clinical phase)
Inflamazome – September 21, 2020 Inflamazome was fully acquired for $451 million upfront with R&D milestones that could be worth up to $1.125 billion from Roche. Roche will own full rights to the acquired company’s portfolio of oral NLRP3 small molecule inflammasome inhibitors. (Pre-clinical phase and Phase 1)
IFM Therapeutics – Quattro & IFM Discovery (Incubator) – December 2019, Has raised $55.5 million to launch its third drug subsidiary as well as an incubator, both of which are focused on developing new therapies for inflammatory diseases and cancers. Omega Funds was the lead, with Atlas Ventures also participating. Financing lead: Omega Funds also participating: Atlas Ventures. (Discovery Phase)
Inflammasome Therapeutics – September 2019, Is entitled to receive up to $160 million in milestone and gated development payments and tiered royalties and other milestones due on commercialization from Boehringer Ingelheim. (Development Phase)
IFM Therapeutics – September 2019, Agreement provides sufficient funding for research and development costs through late-stage pre-clinical development of the lead program with an option to acquire IFM Due. IFM is a Privately held company. (Discovery Phase)
IFM Therapeutics- April 1, 2019, the subsidiary IFM Tre was acquired by Novartis. Novartis will pay $310 million upfront and up to roughly $1.3 billion in milestones to access three early-stage NLRP3 antagonists: IFM-2427, a systemically acting compound that began its first human studies last week, and two pre-clinical compounds: one gut-penetrating, and the other directed at the central nervous system. (Clinical Phase and Pre-clinical Phases)
Most of the small companies involved in inflammasome research are privately held and raise capital privately. From time to time, Noble Capital Markets may be involved in raising capital for non-public biotech firms and companies in other industries. To determine in advance if you qualify to invest in non-public capital raises, visit here to request accreditation.
Take Away
There are huge amounts of capital coming primarily from big pharma and venture capital firms with the expectation that R&D on inflammasomes could yield big results. Therapies that could regulate a primary culprit across many diseases would be a significant boost to investors and mankind.
MIAMI, Oct. 05, 2022 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, announces today the entry list for the second round of the 2022-23 Le Mans Virtual Series, 4 Hours of Monza. The list is available (HERE). The high level of both real life and sim drivers due to compete in the upcoming Monza event is a great indication that another closely contested race is likely from start to finish.
Names such as 2021 ELMS champion Yifei Yi, Mexican motorsport legend Luis Diaz and Porsche factory driver Ayhancan Güven will be racing alongside esports elite, including those representing Bahrain victors Floyd Vanwall-Burst (Dillmann/Simončič/Pedersen) in LMP and Oracle Red Bull Racing (Webster/Siebel/Jordan) in GTE.
The race will take place on the rFactor2 platform at the virtual Autodromo Nazionale Monza and full, uninterrupted coverage will begin from 12:40 p.m. BST (CEST = +1 hour / EST = -5 hours) on Saturday, October 8. The Italian temple of speed is unmatched for its history and the passion it invokes in motorsport fans – real or virtual – and esport racing fans can be sure that plenty of action will be in store!
A total of 40 cars will battle it out in two different classes – 24 in LMP, with all competitors using an ORECA 07 LMP2 model, and 16 in GTE with teams having a choice of Ferrari, BMW, Porsche and Aston Martin Vantage models. Manufacturer support also comes to teams representing Alpine and Mercedes AMG.
Qualifying begins on Friday, October 7 at 6:00pm BST, and all race action can be followed on the FIA WEC, Le Mans and TraxionGG’s YouTube channels, on twitch.tv/traxiongg, and on multiple social media channels.
For further media information, contact Fiona Miller, Miller Media & Communications, on +44 7770 371332 or [email protected]
About Le Mans Virtual Series Le Mans Virtual Series is a global, elite esports series made up of five rounds which bring together endurance racing and sim racing’s top teams to compete on some of the world’s most famous racetracks. International FIA-licensed real-world drivers are teamed up with elite esports squads to take on endurance classics for a total prize fund of US$250,000, culminating in the prestigious 24 Hours of Le Mans Virtual. Le Mans Virtual Series is a joint venture between leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, Motorsport Games, and the Automobile Club de l’Ouest (ACO) – the creator and organizer of the world-famous 24 Hours of Le Mans and promoter of the FIA World Endurance Championship (FIA WEC).
Round 1
8 Hours of Bahrain, Bahrain
September 17, 2022
Round 2
4 Hours of Monza, Italy
October 8, 2022
Round 3
6 Hours of Spa, Belgium
November 5, 2022
Round 4
500 Miles of Sebring, USA
December 3, 2022
Round 5
24 Hours of Le Mans Virtual
January 14/15, 2023
About Motorsport Games: Motorsport Games, a Motorsport Network company, is a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make the joy of racing accessible to everyone. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), as well as the industry leading rFactor 2 and KartKraft simulations. RFactor 2 also serves as the official sim racing platform of Formula E, while also powering Formula 1™ centers through a partnership with Kindred Concepts. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires.
Forward-Looking Statements: Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning the timing, participants and expected benefits of the 2022-23 Le Mans Virtual Series, 4 Hours of Monza event. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, without limitation: difficulties, delays in or unanticipated events that may impact the timing and expected benefits of the 2022-23 Le Mans Virtual Series, 4 Hours of Monza event, such as due to unexpected changes in the event participants, as well as less than anticipated participation in or viewership of the event. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on Form 10-Q filed with the SEC during 2022, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.
Website and Social Media Disclosure: Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):
BOTHELL, Wash., Oct. 05, 2022 (GLOBE NEWSWIRE) — Cocrystal Pharma, Inc. (Nasdaq: COCP) announces that James Martin, CFO and interim co-CEO, will present a company overview at the Dawson James Securities 2022 Small Cap Growth Conference on Wednesday, October 12, 2022 at 1:00 p.m. Eastern time (10:00 a.m. Pacific time). The conference is being held at the Wyndham Grand Hotel in Jupiter, Fla.
Mr. Martin is available throughout the conference for one-on-one meetings. The Cocrystal presentation will be posted to the IR Calendar of the Company’s website beginning October 12.
About Cocrystal Pharma, Inc. Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.
