Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Solid Q4 results. The company reported Q4 revenue of $97.5 million, modestly lower than our estimate of $101.0 million, but adj. EBITDA of $12.2 million was substantially better than our estimate of a loss of $1.9 million, as illustrated in Figure #1 Q4 Results. The adj. EBITDA beat was largely driven by the company’s efficient use of selling and marketing expenses, which was 25% lower than our estimate.
Key operating metrics. In Q4, the company generated $94 million in bookings and had 292,000 monthly paying users (MPU). Bookings were largely in line with our expectations, while MPUs were modestly lower than we anticipated. Importantly, the decrease in MPU’s moderated from the quarter-over-quarter decrease experienced in Q3, and the company’s strategic marketing efforts appear to be gaining traction.
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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.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Initiating Research Coverage. We are initiating research coverage of MariMed, Inc. with an Outperform rating and a $0.25 price target. MariMed is a cannabis brand powerhouse, in our view, with leading market shares in current markets and significant expansion potential both within existing markets and new greenfield markets.
MSO. With operations in six states, MariMed is a vertically integrated seed-to-sale cannabis provider. Following in the footsteps of successful consumer brands companies, MariMed has three market leading brands across its operations. We expect the Company to benefit from the growth of its brands in growing markets as well as the addition of new markets in Ohio, Illinois, and Delaware in 2025.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Oil prices took a dramatic hit on Thursday, tumbling over 7% as panic selling gripped financial markets. The sharp decline followed former President Donald Trump’s announcement of sweeping new tariffs and an unexpected supply increase from OPEC+, both of which fueled uncertainty about global demand and market stability.
By mid-morning, West Texas Intermediate (WTI) crude oil (CL=F), the U.S. benchmark, had fallen 7.5% to around $66.10 per barrel, while Brent crude (BZ=F), the global benchmark, dropped below $70 per barrel. This marked one of the largest single-day declines in recent months and signaled a potential shift in market sentiment.
The steep decline was largely driven by fear and uncertainty rather than immediate changes in supply and demand fundamentals, according to market analysts.
“Current discussions about an expected increase in oil production by the OPEC+ and uncertainties about the real impact of the recently announced tariffs are creating downward pressure on oil prices,” said Francisco Penafiel, managing director of investment banking at Noble Capital Markets. “We feel this volatility will continue at least in the near term, until we start measuring the effects from the tariffs and favorable oil market fundamentals prevail over fears of a global economic downturn affecting global demand.”
“The panic selling that’s occurring is very likely an over-exaggeration of the true fundamentals,” said Dennis Kissler, senior vice president for trading at BOK Financial Securities. “Near term, however, there’s a lot of unknowns, so you’re seeing a lot of funds unwind positions.”
Investors had been bullish on oil prices in recent weeks, expecting geopolitical tensions and supply constraints to keep the market tight. However, the combination of Trump’s aggressive trade policies and OPEC+’s decision to boost production has introduced fresh concerns about oversupply and weaker global demand.
Adding to the selloff, the Organization of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, announced they would increase oil production by 411,000 barrels per day starting in May.
While markets had anticipated some additional supply, the move was larger than expected, deepening losses in crude prices.
With global supply now expected to rise and demand potentially slowing due to economic uncertainty, traders are recalibrating their outlooks for oil prices heading into the second half of 2025.
Trump’s new tariff policies have raised concerns about the broader impact on economic growth. While energy imports were not specifically targeted in the latest round of tariffs, the indirect effects could be significant.
China, the world’s largest crude importer, now faces a 54% tariff on U.S. goods. If the Chinese economy slows as a result, its demand for oil could weaken, further pressuring global crude markets.
Before Thursday’s selloff, oil prices had been rising due to Trump’s pressure on Iran, Venezuela, and Russia to curb their oil exports. This rally had already driven U.S. gas prices to their highest levels since September, with the national average nearing $3.25 per gallon.
With oil prices now plunging, the outlook remains uncertain. If crude prices continue to fall, gas prices could stabilize or even decline. However, if global trade tensions persist and economic growth slows, oil demand could remain under pressure in the months ahead.
For now, investors are bracing for more volatility as geopolitical risks and market uncertainty take center stage.
Key Takeaways: – Amazon and OnlyFans founder Tim Stokely have joined the bidding war for TikTok ahead of the April 5 U.S. divestment deadline. – Private equity firms and venture capital groups are exploring alternative funding options, including a potential buyout led by Oracle. – Regulatory concerns over Chinese ownership continue to drive the push for a sale, with the U.S. government insisting on a deal that reduces Beijing’s influence.
As the April 5 deadline for TikTok’s U.S. divestment nears, the competition to acquire the short-video giant is intensifying. The latest bidders to emerge include tech giant Amazon and a consortium led by OnlyFans founder Tim Stokely, joining an already crowded field of private equity firms and venture capital investors looking to take control of TikTok’s U.S. operations. With the looming threat of a ban, TikTok’s fate remains uncertain, and the final buyer will play a crucial role in shaping the future of one of the world’s most popular social media platforms.
Amazon has reportedly sent a letter to Vice President JD Vance and Commerce Secretary Howard Lutnick confirming its interest in acquiring TikTok. Though Amazon has not publicly commented on its bid, the news has already made waves—Amazon’s stock rose by 2% following reports of its interest. The tech giant has long sought to strengthen its presence in social media, having previously acquired Twitch in 2014 and attempted to launch a TikTok-style feature called Inspire, which was later scrapped. If successful, an Amazon acquisition of TikTok would not only expand its reach among younger audiences but could also enhance its advertising business and e-commerce ecosystem.
Meanwhile, several private equity firms and venture capital groups are exploring potential deals. Blackstone is in discussions to join ByteDance’s non-Chinese investors, such as Susquehanna International Group and General Atlantic, to fund a U.S. takeover. Separately, venture capital firm Andreessen Horowitz is backing an effort led by Oracle to acquire TikTok’s U.S. business, a move that would sever the platform from its Chinese parent company.
In a surprising twist, Tim Stokely, the founder of OnlyFans, has thrown his hat into the ring. His new startup, Zoop, has partnered with a cryptocurrency foundation to submit a late-stage bid for TikTok. While the details of Zoop’s financial backing remain unclear, Stokely’s involvement signals an unconventional approach to TikTok’s future ownership, raising questions about how it might change the platform’s business model, content policies, and monetization strategy.
The U.S. government remains firm in its stance that TikTok’s Chinese ownership presents a national security risk. The 2024 law requiring ByteDance to divest TikTok by January 19 was passed with overwhelming bipartisan support, and failure to comply could result in a complete U.S. ban of the app. Washington officials argue that Chinese ownership could allow Beijing to influence U.S. users and collect vast amounts of American user data. ByteDance and TikTok have repeatedly denied these claims.
To comply with U.S. regulations, discussions are underway to create a new U.S.-based TikTok entity where Chinese ownership would be reduced below 20%. However, finalizing such a deal within days remains a significant challenge.
With multiple bidders vying for control and just days left to finalize a deal, TikTok’s future in the U.S. hangs in the balance. If no agreement is reached by April 5, the platform could face severe restrictions or even an outright ban. Whether Amazon, private equity investors, or unexpected players like Stokely’s Zoop ultimately take control, the outcome will have significant implications for the social media landscape and digital advertising industry.
Global Restaurant Franchising Company Accepts Cryptocurrency for Franchisee Royalty Payments
LOS ANGELES, April 02, 2025 (GLOBE NEWSWIRE) — FAT(Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Johnny Rockets, Twin Peaks, Fazoli’s and 13 other restaurant concepts, announced it is officially accepting Bitcoin for franchisee royalty payments. With over 2,300 locations worldwide, the Company is the first restaurant franchise to accept royalty payments in cryptocurrency. The move underscores FAT Brands’ commitment to financial and technological innovation.
“Over the years, Bitcoin has transformed into a mainstream asset and, as a Company, we see great value in expanding our forms of payments for our franchisees, especially for our international partners, who make up over 20 percent of our portfolio,” said Thayer Wiederhorn, COO of FAT Brands. “We look forward to utilizing Bitcoin as an efficient tool for streamlining and simplifying the payment process and are excited to be at the forefront of this evolution in embracing Bitcoin as it continues to grow in popularity.”
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 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, 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. For more information on FAT Brands, please visit www.fatbrands.com.
New gates will be installed at the Secaucus Junction and Newark Liberty International Airport stations
Contract follows a recent agreement with SEPTA to install Conduent’s fare gates at nine different transit stations in the nearby Philadelphia area
FLORHAM PARK, N.J. — Conduent Transportation, a global provider of smart mobility technology solutions and business unit of Conduent Incorporated (Nasdaq: CNDT), today announced a contract with NJ TRANSIT to install state-of-the-art 3D fare gates across two of its stations in New Jersey. NJ TRANSIT will leverage Conduent’s advanced 3D Fare Gate Solution to modernize its infrastructure and enhance the reliability of fare collections.
The nearly 8-foot-tall gates will be installed in the coming months at NJ TRANSIT’s Secaucus Junction and Newark Liberty International Airport stations. The agency also has the option to expand the 3D gates to additional locations, further building on Conduent’s trusted 30 year-partnership with NJ TRANSIT.
“We’re honored to expand our relationship with NJ TRANSIT with their adoption of our 3D Fare Gate Solution,” said Adam Appleby, Group President, Public Sector Solutions at Conduent. “This innovative technology modernizes fare collection and helps ensure fair access to a transit system that benefits the entire region.”
In 2024, NJ TRANSIT awarded a five-year contract to Conduent for the continued implementation and enhancement of its contactless fare collection system.
The new fare gate agreement, for 72 gates in total, comes on the heels of a 2024 contract with the Southeastern Pennsylvania Transportation Authority (SEPTA) to install 100 Conduent 3D fare gates at nine transit stations in the Philadelphia area. SEPTA’s decision followed a successful pilot program at one station, where the integration of 3D fare gates and transit police efforts to deter fare evasion led to an increase in annual revenue. The gates are also used in Paris by Transilien SNCF.
Conduent Transportation is a leading provider of streamlined, high-volume mobility services and solutions, spanning tolling and advanced transit systems, which enhance the services provided by transportation agencies to benefit the citizens who use them. For over 50 years, the company has helped clients advance transportation solutions in more than 20 countries.
About Conduent Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 55,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $100 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
Trademarks Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
Xcel Brands, Inc. 1333 Broadway 10th Floor New York, NY 10018 United States https:/Sector(s): Consumer Cyclical Industry: Apparel Manufacturing Full Time Employees: 84 Key Executives Name Title Pay Exercised Year Born Mr. Robert W. D’Loren Chairman, Pres & CEO 1.27M N/A 1958 Mr. James F. Haran CFO, Principal Financial & Accou
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Industry dynamics. The QVC Group recently announced that it is laying off 900 employees as part of its effort to become a live social shopping company. Notably, while we don’t anticipate QVC will stop live selling on traditional TV, the increased focus on social commerce is illustrative of changing consumer viewing habits. In our view, XCEL Brands is well positioned to benefit from shift in viewing habits toward streaming alternatives.
Valuable expertise. XCEL Brands is a veteran in the live selling space and has extensive experience working with celebrities to help bring their products to market and help them sell. In our view, the company is well positioned to provide celebrities with expertise both in traditional TV and social commerce selling, or live streaming.
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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.
Key Points: – Celsius acquires Alani Nu for $1.8B, expanding its zero-sugar beverage lineup. – Alani Nu stays under Celsius, with leadership advising for brand continuity. – The deal boosts market reach, blending Alani Nu’s online strength with Celsius’ retail power.
Celsius Holdings, Inc. (Nasdaq: CELH) has finalized its $1.8 billion acquisition of Alani Nutrition LLC (Alani Nu), strengthening its position in the rapidly growing functional beverage market. The deal, which includes $150 million in tax assets, effectively brings the net purchase price to $1.65 billion, paid through a combination of cash and stock. This acquisition expands Celsius’ portfolio of zero-sugar, health-focused energy drinks and positions the company to capitalize on increasing consumer demand for better-for-you beverage options.
Celsius has built a strong brand by catering to fitness-conscious consumers looking for functional energy drinks with zero sugar. With Alani Nu now under its umbrella, the company gains access to an established brand with a loyal following in the health and wellness space. The acquisition aligns with Celsius’ mission to provide innovative and flavorful products that cater to active lifestyles.
“The closing of this transaction further strengthens our ability to grow the energy drink category and reach new consumers who seek better-for-you, functional beverages as a healthier alternative to traditional, sugary energy drinks,” said John Fieldly, Chairman and CEO of Celsius Holdings.
Alani Nu, co-founded by fitness influencer Katy Hearn, has rapidly grown into a recognizable name in the industry, offering a variety of products including energy drinks, protein powders, and supplements. The brand’s appeal among health-conscious consumers makes it a natural fit within Celsius’ growing portfolio.
Under the terms of the deal, Alani Nu will continue to operate within Celsius, ensuring continuity in branding and product offerings. Key leadership members from Alani Nu will serve as advisors to Celsius, helping to maintain the brand’s identity while leveraging Celsius’ infrastructure and distribution network to expand its reach.
“Alani Nu has built a strong brand and a differentiated consumer base, which we believe will thrive and grow within the Celsius family,” said Alani Nu co-founder Max Clemons. “Thank you to the many Alani Nu employees and partners who have helped inspire and support our customers in their pursuit of active, wellness lifestyles. I look forward to working with the Celsius team to make Alani Nu products available to many more people and to continue creating great-tasting, functional products aligned with today’s wellness lifestyles.”
This acquisition is expected to unlock significant growth opportunities for both brands. Celsius’ established presence in retail and convenience store channels will provide Alani Nu with broader distribution, while Alani Nu’s strong online and direct-to-consumer business will complement Celsius’ expansion efforts.
The global energy drink and functional beverage market has seen substantial growth as consumers increasingly seek out healthier alternatives. With the addition of Alani Nu, Celsius is well-positioned to compete with industry giants like Monster and Red Bull by offering a broader range of health-conscious products.
As Celsius continues to innovate and expand, this acquisition sets the stage for increased market penetration, product innovation, and consumer engagement. By combining forces, Celsius and Alani Nu aim to reshape the functional beverage landscape and provide more options for those seeking energy and wellness in their drinks.
Key Points: – Job openings fell to 7.57 million, the lowest level since September 2024, signaling a cooling labor market. – Hiring remained flat while the quits rate declined, indicating weaker worker confidence. – Consumer concerns about unemployment are rising, with surveys showing the highest job loss expectations since 2009.
The US labor market showed further signs of cooling in February as job openings fell to their lowest level since September 2024. According to the latest Bureau of Labor Statistics (BLS) report, job openings dropped to 7.57 million, down from 7.76 million in January. This marks one of the lowest levels since early 2021 and continues the trend of a gradually slowing labor market.
Labor Market Adjusting to New Economic Reality
The decline in job openings signals a shift in employer demand, potentially in response to higher interest rates and economic uncertainty. Despite this, the labor market remains stable enough that the Federal Reserve is unlikely to adjust its stance on interest rates in the near term.
Oxford Economics lead US economist Nancy Vanden Houten noted, “The February JOLTS report showed some cooling of labor market conditions but is unlikely to sway the Federal Reserve from its view that the job market is stable enough to withstand an extended period of unchanged interest rates as the central bank monitors progress on inflation.”
The Federal Reserve is closely monitoring these labor market trends as it weighs potential rate cuts. According to the CME FedWatch Tool, investors currently see a 66% chance of a rate cut by the Fed’s June meeting.
Hiring and Quit Rates Near Decade Lows
The JOLTS report also highlighted that hiring remained relatively flat, with 5.4 million new hires in February, up slightly from January’s 5.39 million. The hiring rate held steady at 3.4%.
Meanwhile, the quits rate—a measure of worker confidence in the job market—fell to 2% from 2.1% in the prior month. Both the hiring and quits rates are hovering near decade lows, which raises concerns about future labor market weakness.
Kristina Hooper, chief global market strategist at Invesco, warned that a further slowdown in hiring and an increase in layoffs could pose risks to the economy. “If we think we’re going to see layoffs increase, which I very much anticipate going forward, and we continue to have pretty tepid job growth, that’s a problem,” Hooper said. She added that this situation could increase the risk of stagflation or a broader economic slowdown.
Public sentiment about the labor market is also turning negative. A recent survey from the University of Michigan showed that two-thirds of respondents expect the unemployment rate to rise within the next year—the highest reading since 2009.
In another sign of weakening labor demand, the Institute for Supply Management’s manufacturing employment index fell to 44.7% in February, its lowest level since September 2024.
Despite these concerns, official labor data has yet to reflect significant job losses. Economists expect the March employment report, set for release on Friday, to show a net gain of 140,000 jobs, slightly lower than February’s 151,000. The unemployment rate is projected to remain steady at 4.1%.
With job openings declining and consumer sentiment weakening, all eyes are on the upcoming labor reports to see whether the slowdown deepens or if the job market can maintain stability in the coming months.
Lead compound THIO (ateganosine) is the only clinical-stage telomere-targeting anticancer agent throughout the field of cancer discovery
Potential FDA filings in 2026 for accelerated approval from THIO-101 and early full approval from THIO-104
Full Shareholder Letter available in Investors section of MAIA’s corporate website
CHICAGO–(BUSINESS WIRE)– MAIA Biotechnology, Inc., (NYSE American: MAIA) (“MAIA” or the “Company”), a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer, today published a 2025 Shareholder Letter by CEO Vlad Vitoc, M.D. detailing the Company’s key milestones for 2025 including several clinical trials and regulatory pathways.
“MAIA continues to bring innovation to the biotech industry as one of the earliest pioneers of telomere targeting as a strategy for cancer treatment. Our lead candidate is THIO (ateganosine), the only clinical-stage telomere-targeting anticancer agent throughout the field of cancer discovery,” states Dr. Vitoc at the opening of his shareholder letter. “We are working on multiple potential regulatory pathways that could provide accelerated approval and robust exclusivity for THIO in non-small cell lung cancer (NSCLC). Multiple milestones this year are expected to pave the path toward a potential FDA decision as early as next year.”
Letter Highlights
Phase 2 trial THIO-101 expansion underway; potential filing in 2026 for accelerated approval.
Phase 3 THIO-104 set to begin in mid-2025; potential filing in 2026 for early full approval.
Lead asset THIO shows exceptional efficacy in advanced NSCLC.
Multiple THIO trials planned in additional cancer indications.
Significant market opportunity in hard-to-treat cancers with unmet medical needs.
MAIA is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer. Our lead program is ateganosine (THIO), a potential first-in-class cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.
Forward-Looking Statements
MAIA cautions that all statements, other than statements of historical facts contained in this press release, are forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels or activity, performance or achievements to be materially different from those anticipated by such statements. The use of words such as “may,” “might,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that statements are not forward-looking. For example, all statements we make regarding (i) the initiation, timing, cost, progress and results of our preclinical and clinical studies and our research and development programs, (ii) our ability to advance product candidates into, and successfully complete, clinical studies, (iii) the timing or likelihood of regulatory filings and approvals, (iv) our ability to develop, manufacture and commercialize our product candidates and to improve the manufacturing process, (v) the rate and degree of market acceptance of our product candidates, (vi) the size and growth potential of the markets for our product candidates and our ability to serve those markets, and (vii) our expectations regarding our ability to obtain and maintain intellectual property protection for our product candidates, are forward looking. All forward-looking statements are based on current estimates, assumptions and expectations by our management that, although we believe to be reasonable, are inherently uncertain. Any forward-looking statement expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and are subject to risks and uncertainties and other factors beyond our control that may cause actual results to differ materially from those expressed in any forward-looking statement. Any forward-looking statement speaks only as of the date on which it was made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. In this release, unless the context requires otherwise, “MAIA,” “Company,” “we,” “our,” and “us” refers to MAIA Biotechnology, Inc. and its subsidiaries.
Tonix expands its all-in-one platform, partnering with the world’s leading migraine diary app, enhancing disease education and prescription access
CHATHAM, N.J., April 01, 2025 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP), a biopharmaceutical company with a portfolio of marketed products and a pipeline of development candidates, today announced the launch of TONIX ONE™, a fully-integrated digital platform designed to help patients better understand and manage their migraine condition. Through a series of strategic partnerships with UpScript Telemedicine, ProModRx, Blink Health and a leading mobile application specializing in disease tracking, reporting and symptom management, Tonix is streamlining the migraine patient journey into a unified digital platform. Please visit www.tonixone.com for details.
“We developed TONIX ONE to leverage innovation and deliver a full-service digital solution that seamlessly guides patients from their migraine diary app to prescription fulfillment within hours. Our goal is not only to educate and empower patients seeking better treatment options but also to remove the barriers to care that many individuals living with migraines face,” said Scott Szymanski, Vice President of Sales and Marketing, Migraine, of Tonix Pharmaceuticals.
TONIX ONE provides an intuitive, comprehensive journey for patients by offering educational resources about migraine and the limitations of oral medications which can sometimes lead to delayed or ineffective symptom relief. The platform also connects patients directly to migraine specialists via telehealth services and e-prescription requests, simplifying and accelerating access to treatment.
“With the launch of TONIX ONE, we are further strengthening Tonix Pharmaceuticals’ position as a leader in innovation, addressing barriers and inefficiencies that stand between patients and the life-changing medications they need,” said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals. “By offering a fully-integrated digital platform that streamlines disease state education, prescription acquisition, and fulfillment, we are enhancing access for patients while creating value across our existing portfolio, pipeline, and future business development opportunities.”
Gpmigraine.com provides patients with valuable insights into migraine management by addressing the challenges associated with oral medications due to gastroparesis. The platform helps patients explore alternative treatments and empowers them to make informed decisions about their care.
ProModRx provides patients with a digital solution, dRx Request, to request an e-prescription from their established migraine clinician.
UpScript Health is the leading telemedicine provider in the U.S. For patients who do not have an established migraine clinician or would rather use telemedicine, UpScript provides patients real-time access to 100’s of expert clinicians.
Blink Health is revolutionizing the pharmacy experience, using digital cutting-edge technology to dramatically improve patient access for branded medications.
A leading mobile application operated by a third party, and accessible on the TONIX ONE platform, designed to empower patients suffering from headaches and migraines through data-driven insights, enabling tracking, reporting, and self-management. By providing valuable health data, the platform helps accelerate diagnosis and optimize treatment options, ultimately enhancing the quality of life for people living with migraine symptoms, which in turn can accelerate diagnosis and fine-tune treatment options.
Tonix Pharmaceuticals Holding Corp.*
Tonix is a fully-integrated biopharmaceutical company focused on transforming therapies for pain management and vaccines for public health challenges. Tonix’s development portfolio is focused on central nervous system (CNS) disorders. Tonix’s priority is to advance TNX-102 SL, a product candidate for the management of fibromyalgia, for which an NDA was submitted based on two statistically significant Phase 3 studies for the management of fibromyalgia and for which a PDUFA (Prescription Drug User Fee act) goal date of August 15, 2025 has been assigned for a decision on marketing authorization. The FDA has also granted Fast Track designation to TNX-102 SL for the management of fibromyalgia. TNX-102 SL is also being developed to treat acute stress reaction and acute stress disorder under a Physician-Initiated IND at the University of North Carolina in the OASIS study funded by the U.S. Department of Defense (DoD). Tonix’s CNS portfolio includes TNX-1300 (cocaine esterase), a biologic in Phase 2 development designed to treat cocaine intoxication that has FDA Breakthrough Therapy designation, and its development is supported by a grant from the National Institute on Drug Abuse. Tonix’s immunology development portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is an Fc-modified humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. Tonix also has product candidates in development in infectious disease, including a vaccine for mpox, TNX-801. Tonix recently announced a contract with the U.S. DoD’s Defense Threat Reduction Agency (DTRA) for up to $34 million over five years to develop TNX-4200, small molecule broad-spectrum antiviral agents targeting CD45 for the prevention or treatment of infections to improve the medical readiness of military personnel in biological threat environments. Tonix owns and operates a state-of-the art infectious disease research facility in Frederick, Md. Tonix Medicines, our commercial subsidiary, markets Zembrace® SymTouch® (sumatriptan injection) 3 mg and Tosymra® (sumatriptan nasal spray) 10 mg for the treatment of acute migraine with or without aura in adults.
*Tonix’s product development candidates are investigational new drugs or biologics and have not been approved for any indication.
Zembrace SymTouch and Tosymra are registered trademarks of Tonix Medicines. All other marks are property of their respective owners.
This press release and further information about Tonix can be found at www.tonixpharma.com.
Please visit www.tonixone.com for Tonix’s fully-integrated digital platform designed to help patients better understand and manage their migraine condition.
Forward Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to the failure to successfully market any of our products; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission (the “SEC”) on March 18, 2025, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.
Zembrace® SymTouch® (sumatriptan succinate) injection (Zembrace) and Tosymra® (sumatriptan) nasal spray are prescription medicines used to treat acute migraine headaches with or without aura in adults who have been diagnosed with migraine.
Zembrace and Tosymra are not used to prevent migraines. It is not known if Zembrace or Tosymra are safe and effective in children under 18 years of age.
Important Safety Information
Zembrace and Tosymra can cause serious side effects, including heart attack and other heart problems, which may lead to death. Stop use and get emergency help if you have any signs of a heart attack:
discomfort in the center of your chest that lasts for more than a few minutes or goes away and comes back
severe tightness, pain, pressure, or heaviness in your chest, throat, neck, or jaw
pain or discomfort in your arms, back, neck, jaw or stomach
shortness of breath with or without chest discomfort
breaking out in a cold sweat
nausea or vomiting
feeling lightheaded
Zembrace and Tosymra are not for people with risk factors for heart disease (high blood pressure or cholesterol, smoking, overweight, diabetes, family history of heart disease) unless a heart exam shows no problem.
Do not use Zembrace or Tosymra if you have:
history of heart problems
narrowing of blood vessels to your legs, arms, stomach, or kidney (peripheral vascular disease)
uncontrolled high blood pressure
hemiplegic or basilar migraines. If you are not sure if you have these, ask your provider.
had a stroke, transient ischemic attacks (TIAs), or problems with blood circulation
severe liver problems
taken any of the following medicines in the last 24 hours: almotriptan, eletriptan, frovatriptan, naratriptan, rizatriptan, ergotamines, or dihydroergotamine. Ask your provider for a list of these medicines if you are not sure.
are taking certain antidepressants, known as monoamine oxidase (MAO)-A inhibitors or it has been 2 weeks or less since you stopped taking a MAO-A inhibitor. Ask your provider for a list of these medicines if you are not sure.
an allergy to sumatriptan or any of the components of Zembrace or Tosymra
Tell your provider about all of your medical conditions and medicines you take, including vitamins and supplements.
Zembrace and Tosymra can cause dizziness, weakness, or drowsiness. If so, do not drive a car, use machinery, or do anything where you need to be alert.
Zembrace and Tosymra may cause serious side effects including:
changes in color or sensation in your fingers and toes
sudden or severe stomach pain, stomach pain after meals, weight loss, nausea or vomiting, constipation or diarrhea, bloody diarrhea, fever
cramping and pain in your legs or hips; feeling of heaviness or tightness in your leg muscles; burning or aching pain in your feet or toes while resting; numbness, tingling, or weakness in your legs; cold feeling or color changes in one or both legs or feet
increased blood pressure including a sudden severe increase even if you have no history of high blood pressure
medication overuse headaches from using migraine medicine for 10 or more days each month. If your headaches get worse, call your provider.
serotonin syndrome, a rare but serious problem that can happen in people using Zembrace or Tosymra, especially when used with anti-depressant medicines called SSRIs or SNRIs. Call your provider right away if you have: mental changes such as seeing things that are not there (hallucinations), agitation, or coma; fast heartbeat; changes in blood pressure; high body temperature; tight muscles; or trouble walking.
hives (itchy bumps); swelling of your tongue, mouth, or throat
seizures even in people who have never had seizures before
The most common side effects of Zembrace and Tosymra include: pain and redness at injection site (Zembrace only); tingling or numbness in your fingers or toes; dizziness; warm, hot, burning feeling to your face (flushing); discomfort or stiffness in your neck; feeling weak, drowsy, or tired; application site (nasal) reactions (Tosymra only) and throat irritation (Tosymra only).
Tell your provider if you have any side effect that bothers you or does not go away. These are not all the possible side effects of Zembrace and Tosymra. For more information, ask your provider.
This is the most important information to know about Zembrace and Tosymra but is not comprehensive. For more information, talk to your provider and read the Patient Information and Instructions for Use. You can also visit https://www.tonixpharma.com or call 1-888-869-7633.
You are encouraged to report adverse effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch, or call 1-800-FDA-1088.
SASKATOON, Saskatchewan, Canada, April 1, 2025 – MustGrow Biologics Corp. (TSXV:MGRO) (OTC:MGROF) (FRA:0C0) (the “Company” or “MustGrow”), a leading provider of biological and regenerative agriculture solutions, is pleased to announce the addition of three cutting-edge biological solutions to MustGrow’s existing Canadian product lines through its recently acquired Canadian sales and distribution division, NexusBioAg. Product website linked here: NexusBioAg.
MustGrow now proudly offers three new biological solutions designed to enhance crop health, boost yield potential, and improve environmental resilience. Featuring EZ-Gro Max, EZ-Gro Cyto, and Rootella® mycorrhizal inoculants, these innovative products provide farmers with powerful, science-backed tools to maximize every acre.
“At MustGrow, we are committed to accelerating the adoption of biological solutions in agriculture. With this new product lineup, we are offering Canadian farmers proven, science-driven products that support sustainable farming while delivering strong agronomic performance,” said Colin Bletsky, COO of MustGrow.
EZ-Gro Max: Maximize Every Acre
Powered by Bio-APP™ Technology, EZ-Gro Max is a next-generation biostimulant designed to enhance foliar nutrition, improve plant growth, and increase yield potential while mitigating environmental stress.
Key Benefits:
Contains a five-biostimulant stack that promotes plant growth and development
Enhances crop yield potential
Reduces the effects of heat, drought, and other environmental stresses
Compatible with most foliar nutrition and chemistry partners
EZ-Gro Max is designed for Alfalfa, Barley, Canola, Corn, Oats, Potatoes, Rye, Soybeans, and Wheat, ensuring broad-spectrum benefits across multiple crop types.
EZ-Gro Cyto: Power Through the Unpredictable
Designed to help crops thrive under drought, heat, cold, and salinity stress, EZ-Gro Cyto is a stacked biostimulant package that proactively preserves yield potential in unpredictable conditions.
Key Benefits:
Features a four-biostimulant stack to improve resistance to environmental stresses
Activates plant disease resistance traits
Stimulates plant growth and development
Increases the number and size of flowers, grains, and pods
EZ-Gro Cyto is optimized for Alfalfa, Barley, Canola, Chickpeas, Corn, Lentils, Oats, Peas, Rye, Soybeans, Sunflower, and Wheat, making it an essential tool for growers facing variable weather conditions.
Developed by Groundwork BioAg®, Rootella mycorrhizal inoculants enhance root networks by forming fungal mycelia that increase plants’ ability to absorb water and nutrients. Built on more than 30 years of research, these highly efficient inoculants improve plant fertility, resilience, and sustainability.
Key Benefits:
Improved nutrient uptake, leading to increased yield and quality
Fertilizer and water savings, reducing input costs without compromising yield
Enhanced stress resilience, including drought, flooding, salinity, and extreme pH soils
Supports environmental sustainability through carbon sequestration
About MustGrow
MustGrow Biologics Corp. is a fully-integrated provider of innovative biological and regenerative agriculture solutions designed to support sustainable farming. The Company’s proprietary and third-party product lines offer eco-friendly alternatives to restricted or banned synthetic chemicals and fertilizers. In North America, MustGrow offers a portfolio of third-party crop nutrition solutions, including micronutrients, nitrogen stabilizers, biostimulants, adjuvants and foliar products. These products are synergistically distributed alongside MustGrow’s wholly-owned proprietary products and technologies that are derived from mustard and developed into organic biocontrol and biofertility products to help replace banned or restricted synthetic chemicals and fertilizers. Outside of North America, MustGrow is focused on collaborating with agriculture companies, such as Bayer AG in Europe, the Middle East and Africa, to commercialize MustGrow’s wholly-owned proprietary products and technologies. The Company is dedicated to driving shareholder value through the commercialization and expansion of its intellectual property portfolio of approximately 112 patents that are currently issued and pending, and the sales and distribution of its proprietary and third-party product lines through NexusBioAg. MustGrow is a publicly traded company (TSXV-MGRO) and has approximately 51.6 million common shares issued and outstanding and 59.7 million shares fully diluted. For further details, please visit www.mustgrow.ca.
Contact Information
Corey Giasson Director & CEO Phone: +1-306-668-2652 info@mustgrow.ca
MustGrow Forward-Looking Statements
Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include: the receipt of final approval by the TSXV and those risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2023 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.
Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.
Key Points: – Endeavour Silver enters Peru with a new silver-gold project, expanding beyond Mexico. – Diversifies operations in a top silver-producing country for long-term growth. – Strong exploration potential with high-grade mineralization and existing infrastructure.
Endeavour Silver, a mid-tier silver producer with operations primarily in Mexico, has signed an agreement to acquire a high-potential project in Peru. The acquisition aligns with the company’s long-term goal of diversifying its portfolio beyond Mexico while increasing its production pipeline.
The newly acquired project is located in a historically prolific mining district known for its high-grade silver and gold deposits. With existing infrastructure and promising exploration potential, the site offers Endeavour an opportunity to accelerate development while leveraging its operational expertise in underground silver mining.
For Endeavour Silver, expanding into Peru is a natural progression. The company has successfully built and operated several silver mines in Mexico, including its flagship Guanaceví and Bolañitos operations. By entering Peru, one of the world’s top silver-producing nations, Endeavour is positioning itself for sustainable growth amid rising global demand for silver and gold.
The deal also reduces the company’s reliance on a single jurisdiction, a move that could mitigate geopolitical risks associated with operating exclusively in Mexico. With silver prices showing strength due to increasing industrial and investment demand, Endeavour Silver’s expansion comes at an opportune time.
The newly acquired project boasts a combination of historical high-grade production and strong exploration upside. Preliminary geological assessments indicate the presence of high-quality silver and gold mineralization, suggesting strong resource expansion potential.
Endeavour Silver plans to commence a detailed exploration program, including drilling and metallurgical testing, to assess the project’s full potential. Depending on results, the company aims to advance toward development and production in the coming years.
For investors, Endeavour Silver’s move into Peru signals a commitment to long-term growth and value creation. Expanding into a new mining-friendly jurisdiction with a high-potential project could enhance the company’s production profile and profitability.
The announcement also underscores the broader trend of small and mid-cap miners looking beyond their traditional operating regions to capitalize on attractive, underdeveloped assets. As silver demand remains strong due to its industrial applications (such as in solar panels and electronics) and investment appeal, Endeavour’s strategic expansion could position it as a key player in the evolving market.
Endeavour Silver’s acquisition in Peru is a bold step that could redefine its future. By entering a world-class mining jurisdiction with a high-grade project, the company is strengthening its asset base while de-risking its geographic exposure. With exploration efforts set to begin, investors will be watching closely to see how the company unlocks value from this newly acquired asset.
