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Defense Metals Corp. (DFMTF) – 2022 Drilling Program Outcomes Bode Well for a Robust Preliminary Feasibility Study

Posted on by cpereira@noblefcm.com


Thursday, October 27, 2022

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Resource and geotechnical drilling completed. Defense Metals completed resource delineation and pit geotechnical diamond drilling for the 2022 exploration season. A total of 5,500 meters of diamond drilling was completed in 18 holes. The drilling program included five pit slope geotechnical and hydrogeologic holes totaling 1,150 meters. Geotechnical drilling will aid optimizing the open pit slope design. Results from the program will support the Preliminary Feasibility Study (PFS) expected to commence this quarter with completion expected in the first half of 2023.

Recent assay results. Defense Metals released assay results from one additional core hole, totaling 383 meters, collared within the northern area of Defense Metals’ Wicheeda Deposit. Infill hole WI22-70 was drilled southwest within the northern area of the deposit and intersected a broad zone of mineralized dolomite carbonatite averaging 2.50% total rare earth oxide (TREO) over 113 meters.


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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. 

Less Expensive Batteries Don’t Always Come from Cheaper Materials

Posted on by phoffman@channelchek.com
Image Credit: 24M Technology (MIT News)

Zach Winn | MIT News Office

When it comes to battery innovations, much attention gets paid to potential new chemistries and materials. Often overlooked is the importance of production processes for bringing down costs.

Now the MIT spinout 24M Technologies has simplified lithium-ion battery production with a new design that requires fewer materials and fewer steps to manufacture each cell. The company says the design, which it calls “SemiSolid” for its use of gooey electrodes, reduces production costs by up to 40 percent. The approach also improves the batteries’ energy density, safety, and recyclability.

Judging by industry interest, 24M is onto something. Since coming out of stealth mode in 2015, 24M has licensed its technology to multinational companies including Volkswagen, Fujifilm, Lucas TVS, Axxiva, and Freyr. Those last three companies are planning to build gigafactories (factories with gigawatt-scale annual production capacity) based on 24M’s technology in India, China, Norway, and the United States.

“The SemiSolid platform has been proven at the scale of hundreds of megawatts being produced for residential energy-storage systems. Now we want to prove it at the gigawatt scale,” says 24M CEO Naoki Ota, whose team includes 24M co-founder, chief scientist, and MIT Professor Yet-Ming Chiang.

Establishing large-scale production lines is only the first phase of 24M’s plan. Another key draw of its battery design is that it can work with different combinations of lithium-ion chemistries. That means 24M’s partners can incorporate better-performing materials down the line without substantially changing manufacturing processes.

The kind of quick, large-scale production of next-generation batteries that 24M hopes to enable could have a dramatic impact on battery adoption across society — from the cost and performance of electric cars to the ability of renewable energy to replace fossil fuels.

“This is a platform technology,” Ota says. “We’re not just a low-cost and high-reliability operator. That’s what we are today, but we can also be competitive with next-generation chemistry. We can use any chemistry in the market without customers changing their supply chains. Other startups are trying to address that issue tomorrow, not today. Our tech can address the issue today and tomorrow.”

A Simplified Design

Chiang, who is MIT’s Kyocera Professor of Materials Science and Engineering, got his first glimpse into large-scale battery production after co-founding another battery company, A123 Systems, in 2001. As that company was preparing to go public in the late 2000s, Chiang began wondering if he could design a battery that would be easier to manufacture.

“I got this window into what battery manufacturing looked like, and what struck me was that even though we pulled it off, it was an incredibly complicated manufacturing process,” Chiang says. “It derived from magnetic tape manufacturing that was adapted to batteries in the late 1980s.”

In his lab at MIT, where he’s been a professor since 1985, Chiang started from scratch with a new kind of device he called a “semi-solid flow battery” that pumps liquids carrying particle-based electrodes to and from tanks to store a charge.

In 2010, Chiang partnered with W. Craig Carter, who is MIT’s POSCO Professor of Materials Science and Engineering, and the two professors supervised a student, Mihai Duduta ’11, who explored flow batteries for his undergraduate thesis. Within a month, Duduta had developed a prototype in Chiang’s lab, and 24M was born. (Duduta was the company’s first hire.)

But even as 24M worked with MIT’s Technology Licensing Office (TLO) to commercialize research done in Chiang’s lab, people in the company including Duduta began rethinking the flow battery concept. An internal cost analysis by Carter, who consulted for 24M for several years, ultimately lead the researchers to change directions.

That left the company with loads of the gooey slurry that made up the electrodes in their flow batteries. A few weeks after Carter’s cost analysis, Duduta, then a senior research scientist at 24M, decided to start using the slurry to assemble batteries by hand, mixing the gooey electrodes directly into the electrolyte. The idea caught on.

The main components of batteries are the positive and negatively charged electrodes and the electrolyte material that allows ions to flow between them. Traditional lithium-ion batteries use solid electrodes separated from the electrolyte by layers of inert plastics and metals, which hold the electrodes in place.

Stripping away the inert materials of traditional batteries and embracing the gooey electrode mix gives 24M’s design a number of advantages.

For one, it eliminates the energy-intensive process of drying and solidifying the electrodes in traditional lithium-ion production. The company says it also reduces the need for more than 80 percent of the inactive materials in traditional batteries, including expensive ones like copper and aluminum. The design also requires no binder and features extra thick electrodes, improving the energy density of the batteries.

“When you start a company, the smart thing to do is to revisit all of your assumptions  and ask what is the best way to accomplish your objectives, which in our case was simply-manufactured, low-cost batteries,” Chiang says. “We decided our real value was in making a lithium-ion suspension that was electrochemically active from the beginning, with electrolyte in it, and you just use the electrolyte as the processing solvent.”

In 2017, 24M participated in the MIT Industrial Liaison Program’s STEX25 Startup Accelerator, in which Chiang and collaborators made critical industry connections that would help it secure early partnerships. 24M has also collaborated with MIT researchers on projects funded by the Department of Energy.

Enabling the Battery Revolution

Most of 24M’s partners are eyeing the rapidly growing electric vehicle (EV) market for their batteries, and the founders believe their technology will accelerate EV adoption. (Battery costs make up 30 to 40 percent of the price of EVs, according to the Institute for Energy Research).

“Lithium-ion batteries have made huge improvements over the years, but even Elon Musk says we need some breakthrough technology,” Ota says, referring to the CEO of EV firm Tesla. “To make EVs more common, we need a production cost breakthrough; we can’t just rely on cost reduction through scaling because we already make a lot of batteries today.”

24M is also working to prove out new battery chemistries that its partners could quickly incorporate into their gigafactories. In January of this year, 24M received a grant from the Department of Energy’s ARPA-E program to develop and scale a high-energy-density battery that uses a lithium metal anode and semi-solid cathode for use in electric aviation.

That project is one of many around the world designed to validate new lithium-ion battery chemistries that could enable a long-sought battery revolution. As 24M continues to foster the creation of large scale, global production lines, the team believes it is well-positioned to turn lab innovations into ubiquitous, world-changing products.

“This technology is a platform, and our vision is to be like Google’s Android [operating system], where other people can build things on our platform,” Ota says. “We want to do that but with hardware. That’s why we’re licensing the technology. Our partners can use the same production lines to get the benefits of new chemistries and approaches. This platform gives everyone more options.”

Reprinted with permission of MIT News  ( http://news.mit.edu/)

Was the Recession Transitory?

Posted on by phoffman@channelchek.com
Image Credit: Andrea Piacquado (Pexels)

Can We Wave Goodbye to Recession Talk Now that Q3 GDP is Positive?

Gross Domestic Product (GDP), the “advance estimate,” has shown we were not in a recession during the third quarter; instead, the economy expanded. This is a dramatic turn-around from the final data for the previous first two quarters of 2022, which show the U.S. economy contracted during each. Since the Spring, in the stock market, bad economic news has been met with buying, and good news has been met with selling. This GDP report has the power to change that back to more normal investor behavior.

The third quarter production report shows the economy expanded at an annual rate of 2.6%  despite nearly 325 basis points of Fed tightening from a base close to zero earlier this year. This report should be great news for the stock market as it shows that a large part of the economy is growing even while stimulus and easy money is being removed. In addition to the headline news related to overnight bank lending rates, each Thursday after the market closes, the Fed releases information on how large its balance sheet is. This balance sheet holdings report can be viewed as how much money they have at work in the system, effectively acting as stimulus. They have been pulling money out at a pace that many expected would also doom growth. It has not, this too should be taken as a positive sign for stock market investors.

This positive GDP report also helps veterans of the market that did not like playing word games by referring to two-quarters of economic recession (lower case “r”) as something other than a Recession (upper case “R”). This definition had in the past always been automatic, without needing the National Bureau of Economic Research (NBER) to decide when to put a light-shaded bar on our economic timeline charts. We expected that they had the same definition.

GDP Plus Recessions in Gray

Image: Gross Domestic Product Product since 1947-Apris 2022. Gray bars indicate declared recessions.

In 2022 market watchers were all expected to say, “I don’t know what a recession is, I’m not an NBER economist.” This is because, for some reason,, the National Bureau of Economic Research decided not to use the standard metric and definition, it decided instead to be less scientific. The bureau, for the first time declared there is “no fixed rule about what measures contribute information to the process or how they are weighted in our decisions.” In other words, every set of economic conditions is different, and there is no specific threshold that must be met before a recession is declared. We no longer have to even talk about a recession until maybe next year.

Will they declare this quarter an Expansion (upper case “E”)? We’ll see.

Why this GDP Report is Important

Economic growth of nations is measured as the cost of all goods and services sold and provided from domestic-based resources. After all, wealth comes from output, not increases in currency in circulation. GDP measures this output. As you might imagine, an entire economy’s worth of output is a lot of number crunching by the Bureau of Economic Analysis (BEA). So they do two preliminary numbers before the final. This allows them a couple of months to harvest all the needed data. The final GDP report for this quarter is unlikely to show 2.6% growth as it will have been revised twice, but it is likely to approximate this first look.  

Source: Investopedia

Take Away

Good news (economic strength) has been viewed harshly by the market this year as it has been looked at with an eye toward the Fed needing to be more aggressive. Bad news has been embraced and actually caused market rallies.

The most recent GDP report has the power to change this. Despite the historically aggressive Federal Reserve tightening, the economy has grown. Perhaps fears of a deeper recession will pass, and stocks will regain their historic trend of always reaching new highs.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://www.forbes.com/sites/qai/2022/09/22/when-will-this-officially-be-called-a-recession/?sh=357b1a558a0b

https://fred.stlouisfed.org/series/GDP

https://www.investopedia.com/terms/g/gdp.asp#:~:text=GDP%20can%20be%20determined%20via,approach%2C%20and%20the%20income%20approach.

Release – Defense Metals Drills 113 metres of 2.50 % TREO at Wicheeda; Completes 2022 Resource Delineation and Pit Geotechnical Drilling of 5,500 metres

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on DFMTF

VANCOUVER, BC, Oct. 26, 2022 /CNW/ – Defense Metals Corp. (“Defense Metals” or the “Company“; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce high-grade Rare Earth Element (“REE“) assay results from one additional core hole, totalling 383 metres (m), collared within the northern area of Defense Metals’ 100% owned Wicheeda REE Deposit.

Infill drill hole WI22-70 (-55o dip / 234o azimuth) was drilled southwest within the northern area of the deposit intersected a broad zone of mineralized dolomite carbonatite averaging 2.50% total rare earth oxide (“TREO”) over 113 metres (m)1 (Figure 1).

The Company is also pleased to report the completion of the Wicheeda REE Deposit resource delineation and pit geotechnical diamond drilling campaign for the 2022 exploration season. This year a total of 5,500 metres of diamond drilling was completed in 18 holes. The 2022 drilling included completion of five (5) pit slope geotechnical and hydrogeologic holes totalling 1,150 metres, which were designed in part to support a Preliminary Feasibility Study (PFS) expected to commence Q4 2022.

Kristopher Raffle, P.Geo. and Director and QP of Defense Metals stated: “The 2022 Wicheeda drilling continues to meet or exceed expectations, yielding broad zones of mineralized dolomite-carbonatite that in the case of WI22-70 announced today serves to support, and refine confidence in, our PEA mineralized volumes.”

Table 1. Wicheeda REE Deposit 2022 Diamond Drill Intercepts

Figure 1. Drill Section Hole WI22-70

About the Wicheeda REE Property

The 100% owned 4,244-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.

The Wicheeda REE Project yielded a robust 2021 preliminary economic assessment technical report (PEA) that demonstrated an after-tax net present value (NPV@8%) of $517 million, and 18% IRR3. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.

Methodology and QA/QC

The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at Langley (sample preparation) and Vancouver (ICP-MS fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in NI 43-101. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein. 

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power markets, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Deposit located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca

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 news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, drill results including anticipated timeline of such results/assays, commencement of the PFS, the Company’s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

_________________________________
1The true width of REE mineralization is estimated to be 70-100% of the drilled interval.
2TREO % sum of CeO2, La2O3, Nd2O3, Pr6O11, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3 and Ho2O3.
3Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).

SOURCE Defense Metals Corp.

Release – Enrollment Completed in Phase 1 Influenza A Study with Cocrystal Pharma’s Oral Antiviral Candidate CC-42344

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on COCP

OCTOBER 26, 2022

BOTHELL, Wash., Oct. 26, 2022 (GLOBE NEWSWIRE) — Cocrystal Pharma, Inc. (Nasdaq: COCP) announces the completion of enrollment in a Phase 1 healthy volunteer study to assess the safety, tolerability and pharmacokinetics (PK) of its orally administered, novel, broad-spectrum antiviral candidate CC-42344 for the treatment of pandemic and seasonal influenza A. CC-42344 represents a new class of antiviral treatment designed to block an essential step in the viral replication and transcription of pandemic and seasonal influenza A.

In March 2022 enrollment was initiated in the randomized, double-blind, placebo-controlled Phase 1 study, which is being conducted in Australia. In July 2022 the company announced PK results from the single-ascending-dose portion of the study, which support once-daily dosing. Enrollment is now complete with the highest dose of the multiple-ascending-dose portion of the study.

To continue advancing the development of CC-42344, Cocrystal engaged a U.K.-based clinical research organization in August 2022 to conduct a human challenge Phase 2a study evaluating the antiviral activity safety and PK of CC-42344 in subjects infected with influenza A. This study will expose healthy volunteers to the virus in a controlled setting, which will significantly shorten the timeline for generating results.

“Completing enrollment in our Phase 1 study keeps us on track to announce topline results this year,” said Sam Lee, Ph.D., Cocrystal’s President and co-interim CEO. “Results from this study will be incorporated into a regulatory submission to the United Kingdom Medicines and Healthcare Products Regulatory Agency to conduct the human challenge Phase 2a study. Pending approval by the Agency, we expect initiation of the Phase 2a study in the second half of 2023.”

About CC-42344 and Influenza
CC-42344 is an oral PB2 inhibitor discovered using Cocrystal’s proprietary structure-based drug discovery platform technology. It is specifically designed to be effective against all significant pandemic and seasonal influenza A strains and to have a high barrier to resistance due to the way the virus’ replication machinery is targeted. CC-42344 targets the influenza polymerase, an essential replication enzyme with several highly essential regions common to multiple influenza strains. In vitro testing showed CC-42344’s excellent antiviral activity against influenza A strains, including pandemic and seasonal strains, as well as against strains resistant to Tamiflu® and Xofluza®, while also demonstrating favorable PK and safety profiles.

According to a June 2022 report by Precision Reports, the global influenza therapeutics market is projected to reach $9.5 billion by 2027, up from $6.6 billion in 2020 and growing at a 4.8% CAGR between 2021 and 2027.

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.

Cocrystal Pharma Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected completion and submission of our Phase 1 results to the United Kingdom Medicines and Healthcare Products Regulatory Agency, our collaboration with a U.K.-based clinical research organization to conduct a Phase 2a clinical trial and the characteristics and anticipated resulting shortened timeline for the study including the anticipated initiation of the study in the second half of 2023, the potential design and efficacy of CC-42344, and the demand for products designed to treat influenza and opportunities presented thereby. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events. Some or all of the events anticipated by these forward-looking statements may not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to, the availability of federal government funding and budgetary issues that may arise, the risks and uncertainties arising from any future impact of the Russian invasion of Ukraine, and/or inflation and interest rate increases on the global economy, the U.K. and on our Company and collaboration partners, including supply chain disruptions and our continued ability to proceed with our programs such as obtaining the requisite regulatory approvals including from the United Kingdom Medicines and Healthcare Products Regulatory Agency, the ability of the CRO to recruit patients into clinical trials, and the results of the studies for CC-42344. Further information on our risk factors is contained in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2021. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Contact:
LHA Investor Relations
Jody Cain
310-691-7100
jcain@lhai.com

Media Contact:
JQA Partners
Jules Abraham
917-885-7378
Jabraham@jqapartners.com

Release – Kratos Defense & Security Solutions Schedules Third Quarter 2022 Earnings Conference Call for Thursday, November 3rd

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on KTOS

October 26, 2022 at 8:00 AM EDT

SAN DIEGO, Oct. 26, 2022 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, announced today that it will publish financial results for the third quarter of 2022 after the close of market on Thursday, November 3rd. Management will discuss the Company’s operations and financial results in a conference call beginning at 2:00 p.m. Pacific (5:00 p.m. Eastern).

The call will be available at www.kratosdefense.com. Participants may register for the call using this Online Form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN that can be used to access the call. For those who cannot access the live broadcast, a replay will be available on Kratos’ website.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Press Contact:
Yolanda White
858-812-7302 Direct

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

Source: Kratos Defense & Security Solutions, Inc.

Release – FAT Brands Reaches New Milestone with 100th Store Opening in 2022

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on FAT

OCTOBER 26, 2022

Leading Global Restaurant Franchising Company Set to End Year with 12 5 New Locations

LOS ANGELES, Oct. 26, 2022 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., a leading global franchising company that owns restaurant brands including Johnny Rockets, Fatburger, Round Table Pizza, Twin Peaks and 13 other concepts, announces it has opened a record-breaking 100 new franchised locations so far this year, and is poised for further growth, with approximately 25 additional stores slated to open by year end. This is the first year since the company’s inception in 2017 that it has surpassed 100 openings in a year.

Following a year of strategic acquisitions in 2021, the company has committed to expanding organically. Notable openings, which spanned 17 states and 14 countries, included new locations in Mexico of the company’s co-branded burger and wing concept, Fatburger and Buffalo’s Express, and Twin Peaks, the ultimate sports lodge. The Mexico openings marked the first of 82 Twin Peaks and Fatburger and Buffalo’s Express units set to open in the country in the coming years. Fatburger & Buffalo’s Express also arrived in the Democratic Republic of Congo and was one of the highest volume international openings to date for the co-branded pair. Similarly, Johnny Rockets continues to experience sizzling international growth, notching 12 openings this year. Domestically, the classic burger brand made its co-branded debut alongside Hurricane Grill & Wings’ new model, Hurricane Wings, in Washington, D.C.

Round Table Pizza continues to roll its way through Texas, with its fourth location in the state opening in San Antonio. Additionally, FAT Brands’ late 2021 acquisition, Fazoli’s, baked up three more locations in Florida. On the alternative growth front, Johnny Rockets cruised into Royal Caribbean’s Wonder of the Seas, while Fatburger landed in two new casino locations in Las Vegas, The Venetian® Resort and the Excalibur Hotel & Casino.

“With a development pipeline of over 1,000 units, we have been laser-focused on successfully launching new locations across multiple brands,” said FAT Brands CEO Andy Wiederhorn. “Opening 100 stores so far this year is an incredible accomplishment and a testament to our dedicated franchisees and appeal of our family of brands. Equally impressive is the type of growth we have achieved. While we continued to expand in existing territories, we broke ground in new countries and states and debuted new co-branded concepts and non-traditional units.”

For more information on FAT Brands, visit www.fatbrands.com.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings. Forward-looking statements reflect expectations of FAT Brands Inc. (“we”, “our” or the “Company”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies, including but not limited to uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These factors are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

MEDIA C ONTACT :
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Release – Sierra Metals Reports Third Quarter 2022 Production Results and Announces Voluntary Delisting From NYSE American and BVL Exchanges

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on SMTS

OCTOBER 25, 2022

(All metal prices reported in USD)

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL:SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) reports third quarter 2022 production results and announces its decision to voluntarily delist its common shares from the New York Stock Exchange American (“NYSE”) and the Bolsa de Valores de Lima (“BVL”). Delisting is intended to reduce costs and simplify Sierra’s administrative and compliance structure associated with these listings. The Company’s common shares will continue to be listed and traded in Canadian dollars on the TSX.

Production results are from Sierra Metals’ three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver mines in Mexico.

Third Quarter 2022 Consolidated Production Highlights

  • As a result of the mudslide incident and the community blockade that followed, mining operations at Yauricocha were suspended for approximately 20 days in September.
  • Consolidated mill throughput decreased 12% when compared to the previous quarter and 25% when compared to Q3 2021, due to lower throughput at Yauricocha and slower ramp up at Bolivar as a result of an unforeseen flooding event in the Bolivar NorthWest zone.
  • Consolidated copper equivalent production was 7% lower compared to the previous quarter and 24% lower when compared to Q3 2021
  • Suspension of production and financial guidance remains in effect.

Consolidated Q3 2022 Results – The Company previously announced that results will be released on Tuesday, November 15th with a shareholder conference call and webcast on Wednesday, November 16th.

Correction: The Company’s Q3 2022 results will be released on Monday, November 14th after market close and the shareholder conference call and webcast will be held on Tuesday, November 15th at 11:00 AM EST. Dial in and event link details remain the same. Click here to register.

Luis Marchese, CEO of Sierra Metals, commented,“The tragic mudslide event that took place at the Yauricocha Mine last month has been extremely difficult for all of us at Sierra Metals. Safety for everyone remains our highest priority. As such, mining operations have re-commenced at a portion of the Yauricocha Mine, while a very thorough safety assurance process continues before restarting operations in the remaining areas.”

Additionally, the extended work stoppage at Yauricocha, due to the road blockade by a local community, concluded after an agreement was reached. The agreement is currently in the process of being implemented.”

He continued,“Bolivar’s turnaround effort has been delayed due to unexpected flooding events during most of the quarter at the Bolivar NorthWest zone in addition to operational delays in implementing a new raise bore to add ventilation. The flooding is currently under control.

Further, after an in-depth review, examining the advantages and disadvantages of Sierra’s listings, management and the Board determined that it would be in the best interest of the Company and its shareholders to voluntarily delist from both the NYSE and the BVL exchanges. The decision is intended to create simplification and to reduce significant costs associated with the continued listing on the NYSE and BVL.”

He concluded,“Sierra Metals has endured an unfortunate sequence of events, that have brought the Company to its current position. Our goal is to find the best path forward for the Company and its stakeholders.”

Consolidated Production Results

Throughput from the Yauricocha Mine during Q3 2022 was 269,057 tonnes, a 15% decline when compared to the previous quarter. When compared to Q3 2021, throughput from the Yauricocha Mine was 17% lower due to the suspension of mining activity and work stoppages during the third quarter, which resulted in a 31% decrease in copper equivalent pounds produced.

At the Bolivar Mine, throughput was 227,669 tonnes during Q3 2022 or 11% lower as compared to Q2 2022. Lower throughput, combined with lower grades in copper and silver resulted in a 10% decrease in copper equivalent pound production when compared to the previous quarter. When compared to Q3 2021, throughput at Bolivar was 38% lower and while grades were higher for silver and gold, they were not enough to offset the lower throughput, resulting in a 16% decrease in copper equivalent pounds produced.

At Cusi, throughput was 65,180 tonnes during Q3 2022 or 2% lower as compared to Q2 2022. The slightly lower throughput was offset by higher grades in all metals, resulting in a 32% increase in silver equivalent production. When compared to Q3 2021, a 7% increase in throughput, combined with higher head grades for all metals except lead, resulted in a 22% increase in silver equivalent production.

Yauricocha Mine, Peru

The Yauricocha Mine processed 269,057 tonnes during Q3 2022, which was a 15% decrease when compared to Q2 2022 and an 11% decrease in copper equivalent pounds produced. While silver, lead and zinc grades increased by 7%, 24% and 15%, respectively, copper grades decreased by 17% and gold decreased by 24% when compared to the previous quarter.

When compared to Q3 2021, there was a 17% decrease from the 324,196 tonnes processed in the same quarter of 2021 and a 31% decrease in copper equivalent pounds produced. Negative variances in the grades of all metals were the result of restricted access to higher grade areas of the mine and contributed to the lower production of all metals at Yauricocha during Q3 2022.

The significant decrease in tonnage and copper equivalent pounds produced at Yauricocha is a result of the suspension of mining activities due to the mudslide that occurred on September 11, 2022 and the subsequent blockade that took place at the mine’s main entrance.

A summary of production from the Yauricocha Mine for Q3 2022 is provided below:

Bolivar Mine, Mexico

The Bolivar mine processed 227,669 tonnes in Q3 2022, an 11% decrease from 256,372 tonnes in Q2 2022. Lower production during Q3, a 5% decrease in copper grades and a 2% decrease in silver grades resulted in a 10% decrease in copper equivalent pound production when compared to Q2 2022.

When comparing Q3 2022 to Q3 2021, the Bolivar mine processed 38% fewer tonnes of ore. Copper grades were 2% lower while silver and gold grades were 9% and 159% higher, respectively which was not enough to offset the overall decrease in tonnes processed. The mine’s copper equivalent production for the quarter decreased by 16% when compared to the same quarter last year. Operational ramp up has been slower than expected due to unforeseen flooding in the Bolivar NorthWest zone during the quarter.

A summary of production for the Bolivar Mine for Q3 2022 is provided below:

Cusi Mine, Mexico

Operating at an average throughput of 745 tpd, Cusi processed 2% fewer tonnes of ore in Q3 2022 as compared to Q2 2022. Higher grades in all metals resulted in a 32% increase in silver equivalent ounces.

When comparing Q3 2022 to Q3 2021, ore tonnage increased by 7%. Silver production increased 31%, with gold and lead production decreasing by 2% and 57%, respectively. Silver equivalent production of 374,000 ounces for the quarter was 22% higher than in Q3 2021.

A summary of production for the Cusi Mine for Q3 2022 is provided below:

Delisting From The NYSE American and BVL Stock Exchanges

Sierra Metals will notify the U.S. Securities and Exchange Commission (the “SEC”) and the National Commission on the Supervision of Companies and Securities of its withdrawal of the common shares from listing on the NYSE and BVL, respectively.

The Company decided to pursue the voluntary de-listings after concluding that the disadvantages of maintaining its listing on the NYSE and the BVL outweighed the benefits to the Company and its shareholders. It was determined that a delisting will simplify Sierra’s administrative and compliance structure and reduce costs associated with the listing fees.

The decision to voluntarily delist the common shares from the NYSE and BVL will not impact the Company’s listing on the Toronto Stock Exchange (“TSX”). The common shares will continue to be listed and traded on the TSX, subject to compliance with TSX continued listing standards.

The Company expects that the last day of trading of the common shares on the NYSE will be on or about November 14, 2022 and on the BVL on or about December 15, 2022, subject to the satisfaction of the requirements and completion of the internal processes of the latter exchange.

Shareholders holding shares in U.S. brokerage accounts should contact their brokers to confirm how to trade Sierra Metals’ shares in the future on the TSX. Likewise, shareholders holding shares acquired through Peruvian stockbroker agents should contact their brokers to confirm how to trade Sierra Metals’ shares in the future on the TSX.

Quality Control

Américo Zuzunaga, FAusIMM (Mining Engineer) and Vice President, Technical, is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including copper production and base metal production with precious metals byproduct credits, focused on the production and development of its Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. The Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

For further information regarding Sierra Metals, please visit www.sierrametals.com.

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Forward-Looking Statements

This press release contains forward-looking information within the meaning of Canadian and United States securities legislation, including with respect to the delisting of the Common Shares on the NYSE and BVL (and the timing thereof), results of the delisting and the timing of the release of the Company’s Q3 2022 results and shareholders’ call and webcast. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management’s expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur” or “be achieved” or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 16, 2022 for its fiscal year ended December 31, 2021 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com

Luis Marchese
CEO
Sierra Metals Inc.
Tel: +1 (416) 366-7777

Source: Sierra Metals Inc.

Sierra Metals (SMTS) – Third Quarter Production Disappoints; Rating Lowered to Market Perform

Posted on by cpereira@noblefcm.com


Wednesday, October 26, 2022

Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including increasing copper production and base metal production with precious metals byproduct credits, focused on the production and development of its Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Operational challenges negatively impact production. During the third quarter, Sierra Metals produced 6.3 million pounds of copper, 3.9 million pounds of lead, 10.8 million pounds of zinc, 2.2 thousand ounces of gold, and 669 thousand ounces of silver. On a sequential basis, copper and gold production declined 24% and 16%, respectively, while lead, silver, and zinc production increased 16%, 10%, and 4%, respectively. On a copper equivalent basis, production declined 7% sequentially and was below our estimate. Production was negatively impacted, among other things, by a mudslide  at the Yauricocha mine and flooding in the NorthWest Zone at the Bolivar mine.

Updating estimates. We have lowered our 2022 EBITDA and EPS estimates to $29.9 million and $(0.08) per share from $44.6 million and $(0.01) per share. We have lowered our 2023 EBITDA and EPS estimates to $76.1 million and $0.12 per share. Operational uncertainty associated with production at the company’s mines clouds our confidence in 2023 estimates. Sierra will release third quarter results after the market close on November 14 and will host an investor call on November 15 at 11:00 am ET.


Get the Full Report

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

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Genco Shipping & Trading Limited Announces Third Quarter 2022 Conference Call and Webcast

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on GNK

Oct 25, 2022

NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) — Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company’s results for the third quarter of 2022 on Thursday, November 10, 2022 at 8:30 a.m. Eastern Time. The conference call will also be broadcast live over the Internet and include a slide presentation. The Company will issue financial results for the third quarter ended September 30, 2022 on Wednesday, November 9, 2022 after the close of market trading.

What: Third Quarter 2022 Conference Call
  
When: Thursday, November 10, 2022 at 8:30 a.m. Eastern Time
  
Where:There are two ways to access the call:
  
 Dial-in: 786-697-3501 or 866-580-3963; Passcode: 8740274
  
 Please dial in at least 10 minutes prior to 8:30 a.m. Eastern Time to ensure a prompt start to the call.
  
 For live webcast and slide presentation: http://www.gencoshipping.com.

If you are unable to participate at this time, a replay of the call will be available for two weeks at 866-583-1035. Enter the code 8740274 to access the audio replay. The webcast will also be archived on the Company’s website: http://www.gencoshipping.com.

About Genco Shipping & Trading Limited
Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We provide a full-service logistics solution to our customers utilizing our in-house commercial operating platform, as we transport key cargoes such as iron ore, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping routes. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Capesize (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk) enabling us to carry a wide range of cargoes. We make capital expenditures from time to time in connection with vessel acquisitions. As of October 25, 2022, Genco Shipping & Trading Limited’s fleet consists of 17 Capesize, 15 Ultramax and 12 Supramax vessels with an aggregate capacity of approximately 4,636,000 dwt and an average age of 10.6 years.

CONTACT:
Apostolos Zafolias
Chief Financial Officer
Genco Shipping & Trading Limited
(646) 443-8550

Source: Genco Shipping & Trading Limited

Release – Great Lakes Dredge & Dock Corporation Schedules Announcement Of 2022 Third Quarter Results

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on GLDD

Oct 25, 2022

HOUSTON, Oct. 25, 2022 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three and nine months ended September 30, 2022 on Tuesday, November 1, 2022 at 7:00 a.m. C.D.T. A conference call with the Company will be held the same day at 9:00 a.m. C.D.T.

Investors and analysts are encouraged to pre-register for the conference call by using the link below. Participants who pre-register will be given a unique PIN to gain immediate access to the call. Pre-registration may be completed at any time up to the call start time.

To pre-register, go to https://register.vevent.com/register/BIaf179cb81e584ab596ba33265b7db30d

The live call and replay can also be heard at https://edge.media-server.com/mmc/p/ka3fjd5a, or on the Company’s website, www.gldd.com, under Events on the Investor Relations page. A copy of the press release will be available on the Company’s website.

The Company
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 132-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Release – PDS Biotech Chief Medical Officer Dr. Lauren V. Wood to Address 2022 International Head and Neck Conference

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on PDSB

Conference to focus upon improving patient experience for difficult-to-treat cancer

FLORHAM PARK, N.J., Oct. 25, 2022 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of targeted immunotherapies for cancer and infectious disease, today announced that Chief Medical Officer, Dr. Lauren V. Wood, will speak at the 2022 International Head and Neck Conference. The conference, being held in Sunderland, United Kingdom, on November 8-9, is organized by The Swallows Head and Neck Cancer Group to bring together health professionals, patients, caregivers and survivors to improve the journey for those impacted by head and neck cancer.

“Our conference will challenge everyone to think differently on how to improve the quality of life from diagnoses to survivorship and beyond. Dr. Wood is a world-renowned physician and immunologist who is passionate about improving patient care and we are delighted to have her as a speaker,” said Chris Curtis, CEO of The Swallows, a UK-based charity group formed to provide support for patients and caregivers dealing with head and neck cancer.

“PDS Biotech and The Swallows are both focused on improving the experience for patients impacted by head and neck cancer. I am looking forward to an engaging discussion with researchers, current patients and survivors on how we can bring improved treatment options to these patients,” said Dr. Lauren V. Wood, Chief Medical Officer of PDS Biotech.

PDS Biotech’s lead asset, PDS0101, is a novel investigational human papilloma virus (HPV)-targeted immunotherapy that stimulates a potent targeted T cell attack against HPV-positive cancers. PDS0101 is being studied in combination with Merck & Co.’s KEYTRUDA® (pembrolizumab) in patients with HPV16-positive recurrent and/or metastatic head and neck cancer in the company’s VERSATILE-002 study. VERSATILE-002, is an ongoing Phase 2 study with active clinical sites in the US and Europe. Preliminary data from the first 19 patients in VERSATILE-002 were presented earlier this year at the American Society for Clinical Oncology’s annual meeting demonstrating that 41% of patients achieved an objective response, comparing favorably to the response rate of 19% with KEYTRUDA® monotherapy for patients with CPS Score >1 as reported in KEYNOTE-048 with no increase in toxicity.

About PDS Biotechnology 

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of targeted cancer and infectious disease immunotherapies based on our proprietary Versamune® and Infectimune™ T cell-activating technology platforms. We believe our targeted Versamune® based candidates have the potential to overcome the limitations of current immunotherapy by inducing large quantities of high-quality, potent polyfunctional tumor specific CD4+ helper and CD8+ killer T cells. To date, our lead Versamune® clinical candidate, PDS0101, has demonstrated the potential to reduce tumors and stabilize disease in combination with approved and investigational therapeutics in patients with a broad range of HPV-positive cancers in multiple Phase 2 clinical trials. Our Infectimune™ based vaccines have also demonstrated the potential to induce not only robust and durable neutralizing antibody responses, but also powerful T cell responses, including long-lasting memory T cell responses in pre-clinical studies to date. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

About PDS0101

PDS Biotech’s lead candidate, PDS0101, combines the utility of the Versamune® platform with targeted antigens in HPV-positive cancers. In partnership with Merck & Co., PDS Biotech is evaluating a combination of PDS0101 and KEYTRUDA® in a Phase 2 study in first-line treatment of recurrent or metastatic head and neck cancer, and also in second line treatment of recurrent or metastatic head and neck cancer in patients who have failed prior checkpoint inhibitor therapy. A Phase 2 clinical study is also being conducted in both second- and third-line treatment of multiple advanced HPV-positive cancers in partnership with the National Cancer Institute (NCI). A third Phase 2 clinical trial in first line treatment of locally advanced cervical cancer is being performed with The University of Texas, MD Anderson Cancer Center. A final Phase 2 clinical trial of PDS0101 monotherapy in first line treatment of newly diagnosed patients HPV16-positive head and neck cancer patients is being conducted at the Mayo Clinic.

KEYTRUDA® is a registered trademark of Merck Sharp and Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA.

About The Swallows

The Swallows Head and Neck Cancer Group is a UK-based charity supporting all people affected by head and neck cancers: patients, caregivers, friends, or relatives. We provide 24/7 support to every person affected by head and neck cancer.  Each month we hold several face-to-face Support Groups across the UK, along with a monthly virtual meeting which can be accessed across the globe. Meetings give both patients, caregivers the opportunity to discuss their issues, seek new ideas and help problem solve what they are going through. Each November, we host an International Head & Neck Cancer Conference where we bring together those affected by head and neck cancer, health professionals and inspirational speakers. Given the importance of early diagnosis, we offer a full range of information leaflets, posters, and books to help educate and inform people about head and neck cancer, including how to avoid such cancers, and how to look for warning signs that allow for early diagnosis and treatment. To learn more, please visit our website at The Swallows Head & Neck Cancer Support Group  or follow us on Twitter at @swallowsgroup.

Forward Looking Statements 

This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the “Company”) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “forecast,” “guidance”, “outlook” and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company’s ability to protect its intellectual property rights; the Company’s anticipated capital requirements, including the Company’s anticipated cash runway and the Company’s current expectations regarding its plans for future equity financings; the Company’s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company’s operations or require the Company to relinquish rights to the Company’s technologies or product candidates; the Company’s limited operating history in the Company’s current line of business, which makes it difficult to evaluate the Company’s prospects, the Company’s business plan or the likelihood of the Company’s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for PDS0101, PDS0203 and other Versamune® and Infectimune™ based product candidates; the future success of such trials; the successful implementation of the Company’s research and development programs and collaborations, including any collaboration studies concerning PDS0101, PDS0203 and other Versamune® and Infectimune™ based product candidates and the Company’s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company’s product candidates; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including the Company’s ability to fully fund its disclosed clinical trials, which assumes no material changes to our currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim or preliminary results (including, without limitation, any preclinical results or data), which are not necessarily indicative of the final results of the Company’s ongoing clinical trials; any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs and any collaboration studies; and other factors, including legislative, regulatory, political and economic developments not within the Company’s control, including unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s annual and periodic reports filed with the SEC. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. 

Versamune® is a registered trademark and Infectimune™ is a trademark of PDS Biotechnology. 

Investor Contacts: 
Deanne Randolph 
PDS Biotech 
Phone: +1 (908) 517-3613 
Email: drandolph@pdsbiotech.com 

Rich Cockrell 
CG Capital 
Phone: +1 (404) 736-3838 
Email: pdsb@cg.capital 
  
Media Contacts: 
Dave Schemelia 
Tiberend Strategic Advisors, Inc.
Phone: +1 (609) 468-9325 
Email: dschemelia@tiberend.com 

Bill Borden 
Tiberend Strategic Advisors, Inc.
Phone: +1 (732) 910-1620 
Email: bborden@tiberend.com 

The Swallows Contact:

Chris Curtis
The Swallows CEO and World Head & Neck Cancer Advocate
Phone: +44 (0)7779 169 833
Email: chris@ccconsultant.co.uk

Release – Qatar Airways Enters into New Fuel Sales Agreement with Gevo For 5 Million Gallons Of Sustainable Aviation Fuel Per Year Over Five Years

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on Gevo

October 25, 2022

ENGLEWOOD, Colo., Oct. 25, 2022 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) is pleased to announce a new fuel sales agreement with Qatar Airways (Qatar). The agreement sets forth the terms for the purchase of 5 million gallons per year of sustainable aviation fuel (SAF) for five years from Gevo’s future commercial operations. Gevo’s delivery of SAF under this agreement is expected to begin in 2028 at various airports in California.

Qatar is a member of oneworld® Alliance, and this agreement falls within the purview of a memorandum of understanding (MoU) that oneworld Alliance members and Gevo signed in March 2022, laying the groundwork for the associated world-class airlines in the alliance to purchase up to 200 million gallons of SAF per year from Gevo’s future commercial operations. The agreement with Qatar will further enhance Gevo’s global footprint for its sustainable fuel products and also supports Gevo’s efforts in pursuit of its stated goal of producing and commercializing a billion gallons of SAF by 2030.

“By working with farmers on regenerative agricultural practices, Gevo can sustainability source feedstock to produce sustainable aviation fuel, while also increasing soil health, sequestering carbon, and providing nutritional products to the food chain,” said Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer. “By building sustainability into every step of our business system, from sustainably grown feedstock to using renewable energy for production, we are helping Qatar and other members of the oneworld Alliance to reach their emission reduction goals.”

Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said, “Qatar Airways continues to prioritize our commitment to net-zero flying by the middle of this century. Decarbonizing aviation requires the gradual incorporation of lower carbon and sustainable aviation fuels, and we are proud to collaborate on this global effort for a better future.”

The agreement with Qatar is subject to certain conditions precedent, including Gevo developing, financing and constructing one or more production facilities to produce the SAF contemplated by the agreement.

About Gevo
Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have the potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that it possesses the technology and know-how to convert various carbohydrate feedstocks through a fermentation process into alcohols and then transform the alcohols into renewable fuels and materials, through a combination of its own technology, know-how, engineering, and licensing of technology and engineering from Axens North America, Inc., which yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business..

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI. Learn more at Gevo’s website: www.gevo.com

About Qatar Airways
A multiple award-winning airline, Qatar Airways was announced as the ‘Airline of the Year’ at the 2021 World Airline Awards, managed by the international air transport rating organization, Skytrax. It was also named ‘World’s Best Business Class’, ‘World’s Best Business Class Airline Lounge’, ‘World’s Best Business Class Airline Seat’, ‘World’s Best Business Class Onboard Catering’ and ‘Best Airline in the Middle East’. The airline continues to stand alone at the top of the industry having won the main prize for an unprecedented sixth time (2011, 2012, 2015, 2017, 2019 and 2021). Qatar Airways currently flies to more than 150 destinations worldwide, connecting through its Doha hub, Hamad International Airport, voted by Skytrax as the ‘World’s Best Airport’ 2022.

Qatar Airways recognizes the importance of environmental sustainability in aviation. They are committed to being at the forefront and working in collaboration with our global and regional partners on achieving the industry’s decarbonization goals.

Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the agreement with Qatar, Gevo’s ability to produce SAF, Gevo’s ability to develop, finance and construct one or more production facilities to produce the SAF contemplated by the agreement with Qatar, the timing of Gevo producing the SAF for Qatar, Gevo’s technology, the attributes of Gevo’s products and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2021, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Media Contact
Heather L. Manuel
+1 303-883-1114
IR@gevo.com