Category:

Release – Hemisphere Energy Announces 2024 Third Quarter Results, Declares Quarterly Dividend, and Provides Operations Update

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on HMENF

Vancouver, British Columbia–(Newsfile Corp. – November 21, 2024) – Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (“Hemisphere” or the “Company”) is pleased to provide its financial and operating results for the three and nine months ended September 30, 2024, declare a quarterly dividend payment to shareholders, and provide an operations update.

Q3 2024 Highlights

  • Achieved quarterly production of 3,621 boe/d (99% heavy oil), an 18% increase over the same quarter last year.
  • Attained quarterly revenue of $26.7 million, a 10% increase from the third quarter of 2023.
  • Delivered operating netback1 of $15.4 million or $46.24/boe for the quarter.
  • Realized quarterly adjusted funds flow from operations (“AFF”)1 of $11.7 million or $35.17/boe.
  • Executed a $9.9 million capital expenditure program to drill eight successful wells in Atlee Buffalo, Alberta and construct a new multi-well battery and polymer injection facility in Marsden, Saskatchewan.
  • Exited the third quarter with a positive working capital1 position of $6.5 million.
  • Paid a special dividend of $2.9 million ($0.03/share) to shareholders on July 26, 2024.
  • Paid a quarterly base dividend of $2.5 million ($0.025/share) to shareholders on September 13, 2024.
  • Announced a special dividend of $0.03/share to shareholders that was paid subsequent to the quarter on October 25, 2024.
  • Renewed the Company’s Normal Course Issuer Bid (“NCIB”).
  • Purchased and cancelled 756,400 shares under the Company’s NCIB.

(1) Operating netback, adjusted funds flow from operations (AFF), free funds flow, capital expenditures, and working capital are non-IFRS measures, or when expressed on a per share or boe basis, non-IFRS ratio, that do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other entities. Non-IFRS financial measures and ratios are not standardized financial measures under IFRS and may not be comparable to similar financial measures disclosed by other issuers. Refer to the section “Non-IFRS and Other Specified Financial Measures”.

Selected financial and operational highlights should be read in conjunction with Hemisphere’s unaudited consolidated interim financial statements and related notes, and the Management’s Discussion and Analysis for the three and nine months ended September 30, 2024 which are available on SEDAR+ at www.sedarplus.ca and on Hemisphere’s website at www.hemisphereenergy.ca. All amounts are expressed in Canadian dollars unless otherwise noted.

Financial and Operating Summary

Quarterly Dividend and Shareholder Return

Hemisphere is pleased to announce that its Board of Directors has approved a quarterly cash dividend of $0.025 per common share in accordance with the Company’s dividend policy. The dividend will be paid on December 27, 2024 to shareholders of record as of the close of business on December 13, 2024. The dividend is designated as an eligible dividend for income tax purposes.

A minimum of $21 million is anticipated to be returned to Hemisphere’s shareholders in 2024, inclusive of $9.8 million in quarterly base dividends, $5.9 million in two special dividends, and $5.3 million in NCIB share repurchases and cancellations. Based on the Company’s current market capitalization of $179 million (97.5 million shares issued and outstanding at market close price of $1.84 per share on November 20, 2024), this represents an annualized yield of 11.7% to Hemisphere’s shareholders.

Operations Update

Hemisphere’s polymer floods in Atlee Buffalo continue to perform well, with third quarter production up 18% from the same period of 2023. During the third quarter of 2024, Hemisphere drilled eight new horizontal wells into its Atlee Buffalo pools, of which three are in the F pool and five in the G pool. All but one of these wells were brought online subsequent to the end of the quarter, although at least two will ultimately be converted into injectors to continue to build reservoir pressure and sweep oil to producers in the pool.

The Company is currently adding another treater to its G pool battery to handle the additional volumes from these wells. At the same time, vessel inspection and overall maintenance is being completed across the G pool battery. Due to this downtime, management anticipates lower corporate production during the first half of the fourth quarter, with overall expectations for annual 2024 production to be in line with guidance.

In its Marsden, Saskatchewan property, Hemisphere continues to evaluate its new polymer pilot project and is awaiting source well regulatory approval in order to increase injection rates. At this time no significant production is budgeted from the area.

The Hemisphere team is currently working on development plans for next year and expects to release details on its 2025 guidance in January.

About Hemisphere Energy Corporation

Hemisphere is a dividend-paying Canadian oil company focused on maximizing value-per-share growth with the sustainable development of its high netback, low decline conventional heavy oil assets through polymer flood enhanced recovery methods. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol “HME” and on the OTCQX Venture Marketplace under the symbol “HMENF”.

For further information, please visit the Company’s website at www.hemisphereenergy.ca to view its corporate presentation or contact:

Don Simmons, President & Chief Executive Officer
Telephone: (604) 685-9255
Email: info@hemisphereenergy.ca

Website: www.hemisphereenergy.ca

Forward-looking Statements

Certain statements included in this news release constitute forward-looking statements or forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as “anticipate”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “could”, “plan”, “intend”, “should”, “believe”, “outlook”, “potential”, “target” and similar words suggesting future events or future performance. In particular, but without limiting the generality of the foregoing, this news release includes forward-looking statements including that a quarterly dividend will be paid December 27, 2024 to shareholders of record as of the close of business on December 13, 2024; that a minimum of $21 million is anticipated to be returned to shareholders in 2024; that at least two of Hemisphere’s new wells will be converted into injectors; that management anticipates lower corporate production during the first half of the fourth quarter, with overall expectations for annual 2024 production to fall in line with guidance; and that Hemisphere expects to release details on its 2025 guidance in January.

Forward‐looking statements are based on a number of material factors, expectations or assumptions of Hemisphere which have been used to develop such statements and information, but which may prove to be incorrect. Although Hemisphere believes that the expectations reflected in such forward‐looking statements or information are reasonable, undue reliance should not be placed on forward‐looking statements because Hemisphere can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the current and go-forward oil price environment; that Hemisphere will continue to conduct its operations in a manner consistent with past operations; that results from drilling and development activities are consistent with past operations; the quality of the reservoirs in which Hemisphere operates and continued performance from existing wells; the perspectivity of recently acquired properties and the timing and manner to explore and develop the same; the continued and timely development of infrastructure in areas of new production; the accuracy of the estimates of Hemisphere’s reserve volumes; certain commodity price and other cost assumptions; continued availability of debt and equity financing and cash flow to fund Hemisphere’s current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which Hemisphere operates; the general continuance of current industry conditions; the timely receipt of any required regulatory approvals; the ability of Hemisphere to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which Hemisphere has an interest in to operate the field in a safe, efficient and effective manner; the ability of Hemisphere to obtain financing on acceptable terms; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and expansion and the ability of Hemisphere to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Hemisphere operates; and the ability of Hemisphere to successfully market its oil and natural gas products.

The forward‐looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to defer materially from those anticipated in such forward‐looking statements including, without limitation: changes in commodity prices; changes in the demand for or supply of Hemisphere’s products, the early stage of development of some of the evaluated areas and zones; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans of Hemisphere or by third party operators of Hemisphere’s properties, increased debt levels or debt service requirements; inaccurate estimation of Hemisphere’s oil and gas reserve volumes; limited, unfavourable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time‐to‐time in Hemisphere’s public disclosure documents, (including, without limitation, those risks identified in this news release and in Hemisphere’s Annual Information Form).

The forward‐looking statements contained in this news release speak only as of the date of this news release, and Hemisphere does not assume any obligation to publicly update or revise any of the included forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Non-IFRS and Other Financial Measures

This news release contains the terms adjusted funds flow from operations, free funds flow, capital expenditures, operating field netback, operating netback, and working capital/net debt, which are considered “non-IFRS financial measures” and any of these measures calculated on a per boe basis, which are considered “non-IFRS financial ratios”. These terms do not have a standardized meaning prescribed by IFRS. Accordingly, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. Investors are cautioned that these measures should not be construed as an alternative to net income (loss) or cashflow from operations determined in accordance with IFRS and these measures should not be considered more meaningful than IFRS measures in evaluating the Company’s performance.

a) Adjusted funds flow from operations (“AFF”) (Non-IFRS Financial Measure and Ratio if calculated on a per share or boe basis): The Company considers AFF to be a key measure that indicates the Company’s ability to generate the funds necessary to support future growth through capital investment and to repay any debt. AFF is a measure that represents cash flow generated by operating activities, before changes in non-cash working capital and adjusted for decommissioning expenditures and may not be comparable to measures used by other companies. The most directly comparable IFRS measure for AFF is cash provided by operating activities. AFF per share is calculated using the same weighted-average number of shares outstanding as in the case of the earnings per share calculation for the period.

Click Here for Full Report

Codere Online (CDRO) – Q3 Preview: Expecting a Strong Quarter

Posted on by cpereira@noblefcm.com


Thursday, November 21, 2024

Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile application. Codere currently operates in its core markets of Spain, Italy, Mexico, Colombia, Panama and the City of Buenos Aires (Argentina). Codere Online’s online business is complemented by Codere Group’s physical presence throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence in the region.

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

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

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

Positive upside. The company is expected to report Q3 results within the next 2 weeks. We are re-iterating our Q3 estimates of $50.0 million in revenue and $0.4 million in adj. EBITDA. Moreover, we believe there could be upside to our revenue estimate, which may be conservative.

Peso headwind. We expect solid results in Spain, bolstered by the rollback in marketing restrictions in the country. As for the company’s other core market, Mexico, trends appear to be strong. Weakness in the Peso, however, has presented a headwind for the company, which reports in Euros. Nonetheless, we expect a strong quarter, currency exchange concerns notwithstanding.


Get the Full Report

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. 

Century Lithium Corp. (CYDVF) – Building on a Successful 2024

Posted on by cpereira@noblefcm.com


Thursday, November 21, 2024

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Closing out a productive year. Century Lithium had a productive year in 2024 with the two most significant achievements being completion of the feasibility study on the Angel Island lithium project and producing battery-grade lithium carbonate at its pilot plant. The feasibility study was released in April and while the economics were compelling, the company continues to focus on process optimization to improve potential returns by reducing the project’s estimated capital and operating costs. The use of a Chlor-alkali plant is unique and offers technical and environmental advantages by producing reagents for use onsite and producing surplus sodium hydroxide which can be sold to offset cash operating costs.

Environmental and regulatory permitting. On the environmental and permitting front, most of the required baseline studies have been completed and the company is editing a draft Plan of Operations and preparing key state permits for pollution and water quality compliance. Once the Plan of Operations is completed, the company may initiate the National Environmental Policy Act (NEPA) permitting process.


Get the Full Report

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. 

Treasury Yields Edge Higher Amid Geopolitical and Economic Uncertainty

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– 10-year Treasury yield rises to 4.41% amid geopolitical and inflation concerns.
– Putin lowers nuclear strike threshold; U.S. embassy closures signal heightened tensions.
– Federal Reserve official warns of stalled inflation progress despite near-full employment.

U.S. Treasury yields rose on Wednesday as investors grappled with the dual challenges of escalating geopolitical tensions and evolving domestic economic conditions. The yield on the 10-year Treasury climbed 3 basis points to 4.41%, while the 2-year yield increased by the same amount to 4.302%. These moves reflect heightened investor caution as uncertainties cloud both global and U.S. economic outlooks.

At the forefront of global concerns is the ongoing Russia-Ukraine conflict. The United States closed its embassy in Kyiv on Wednesday, citing the risk of a significant air attack, signaling heightened tensions in the region. Compounding the situation, Russian President Vladimir Putin announced changes to Russia’s nuclear doctrine, reducing the threshold for a nuclear strike. This alarming shift follows Ukraine’s use of U.S.-made long-range ballistic missiles to target Russian territory, introducing a new layer of unpredictability to the geopolitical landscape. Such developments have rippled through financial markets, prompting investors to weigh their exposure to riskier assets and seek refuge in safer options like Treasuries, despite rising yields.

Domestically, Federal Reserve Governor Michelle Bowman provided a sobering perspective on inflation. Speaking in West Palm Beach, Florida, Bowman stated that progress toward the Fed’s 2% inflation target has stalled, even as the labor market remains robust. She highlighted the delicate balance the Fed must strike between achieving price stability and maintaining full employment, cautioning that labor market conditions could deteriorate in the near term. This acknowledgment has fueled speculation that the Fed may maintain its higher-for-longer interest rate stance, adding further pressure to bond yields.

Economic data due later this week could shed light on these dynamics. October’s flash purchasing managers’ index (PMI) reports from S&P Global are anticipated to provide critical insights into the health of the manufacturing and services sectors. A decline in PMI figures could reinforce concerns about an economic slowdown, while stronger-than-expected data might reignite inflation fears. Investors are also paying close attention to remarks from Federal Reserve officials later in the week, which could offer clues about the central bank’s next moves.

Adding to the uncertainty, the transition to a new Treasury Secretary under President-elect Donald Trump has become a focal point for market participants. Speculation about potential candidates has raised concerns about their experience and ability to navigate complex fiscal challenges. With geopolitical risks, inflation pressures, and evolving monetary policy already in play, the choice of Treasury Secretary will likely influence investor confidence and fiscal strategy in the months ahead.

As these factors converge, the bond market remains a key barometer of investor sentiment. Rising yields reflect a balancing act between risk and return as markets digest the interplay of global turmoil, domestic policy signals, and economic data. Investors will continue to watch these developments closely, with each data release or policy announcement potentially reshaping market dynamics.

C3.ai’s Microsoft Partnership Signals a New Era for AI Innovation

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– A new partnership with Microsoft is set to further enhance C3.ai’s ability to deliver enterprise AI solutions at scale.
– Fiscal Q2 revenue is projected to grow up to 28% year-over-year, continuing a six-quarter acceleration trend.
– C3.ai’s success underscores the growing potential for smaller-cap AI companies leveraging strategic partnerships to disrupt traditional industries.

C3.ai, a pioneer in enterprise artificial intelligence (AI), is positioned for significant growth as its fiscal second-quarter earnings for 2025 approach on December 9. The company has recently announced an expanded collaboration with Microsoft, further solidifying its role as a leader in delivering AI solutions at scale. This new partnership will integrate C3.ai’s powerful suite of AI applications with Microsoft Azure, providing seamless access for Azure users. By leveraging Microsoft’s extensive global reach and cloud infrastructure, C3.ai aims to simplify AI adoption for enterprises across diverse industries, enhancing its ability to meet growing demand.

The announcement underscores the importance of strategic alliances in the rapidly evolving AI sector. For C3.ai, partnerships have long been a cornerstone of its strategy, as evidenced by existing relationships with Amazon Web Services and Google Cloud. These collaborations enable the company to offer scalable, user-friendly solutions like inventory optimization, predictive maintenance, and supply chain analytics to a wide range of industries, including manufacturing, financial services, and energy. The partnership with Microsoft elevates this approach, offering additional co-marketing opportunities and joint customer engagements that could significantly expand C3.ai’s customer base.

C3.ai’s journey highlights a broader trend within the AI industry, where smaller-cap companies are leveraging partnerships to carve out their niches and drive adoption. Companies like BigBear.ai, SoundHound AI, and Veritone are adopting similar strategies to gain traction in specialized markets. For example, BigBear.ai’s focus on AI analytics for defense logistics and SoundHound’s integration of voice AI in automotive and consumer electronics show how smaller firms can use partnerships to scale and innovate. These parallels reinforce the idea that C3.ai’s approach could serve as a playbook for other emerging growth companies in the AI space.

This momentum comes on the heels of C3.ai’s transition to a consumption-based pricing model, a strategic pivot that has significantly accelerated revenue growth. While the shift initially caused a slowdown as customers adapted to the new model, the benefits are now evident. The company has delivered six consecutive quarters of revenue growth acceleration, with its fiscal first quarter of 2025 generating $87.2 million—a 21% year-over-year increase. Projections for the second quarter suggest revenues could climb as high as $91 million, reflecting a year-over-year growth rate of up to 28%. This continued momentum highlights the growing demand for C3.ai’s AI solutions across multiple sectors.

Despite its strong performance, C3.ai’s stock remains undervalued, trading at a price-to-sales ratio of 9.7, well below its historical average of 16.1. If the company’s upcoming earnings report exceeds expectations, the stock could rally significantly, potentially regaining a valuation more aligned with its long-term average. This potential upside is particularly compelling given the broader market opportunity in AI, which Bloomberg estimates will reach $1.3 trillion by 2032. C3.ai CEO Thomas Siebel has likened the AI revolution to transformative technological shifts like the internet and the smartphone, emphasizing the long-term value this sector could deliver.

The expanded Microsoft partnership, accelerating revenue growth, and increasing demand for enterprise AI solutions position C3.ai as a key player in this multiyear technological evolution. As its financial results and partnerships continue to evolve, C3.ai represents not just a compelling individual opportunity but also a broader reflection of the transformative potential of AI in reshaping industries and creating new market leaders. Investors eyeing the December 9 earnings report will find themselves at the intersection of innovation and opportunity, watching a leader in the space solidify its position while paving the way for the next wave of growth in enterprise AI.

Nvidia’s Q3 Earnings in Focus: AI Boom Continues, But Challenges Loom

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Nvidia’s Data Center revenue expected to hit $29 billion, doubling year-over-year.
– Demand for Blackwell chips outstrips supply as production challenges persist.
– Proposed tariffs on Taiwan-made chips threaten Nvidia’s costs and margins.

Nvidia, the world’s largest publicly traded company by market cap, is set to report its third-quarter earnings today, and investors are bracing for what could be another blockbuster performance fueled by artificial intelligence (AI). Analysts project Nvidia will report earnings per share (EPS) of $0.74 on revenue of $33.2 billion, a staggering 83% year-over-year increase. This incredible growth highlights Nvidia’s position as a market leader in the rapidly expanding AI sector, where demand for cutting-edge chips continues to skyrocket.

Nvidia’s dominance in the AI chip market has driven its meteoric rise throughout 2024, with its stock up an impressive 192% year-to-date. As companies across industries increasingly adopt AI-driven solutions, Nvidia’s technology has become indispensable, powering advancements in areas ranging from autonomous vehicles to generative AI tools like ChatGPT. Investors are eager to see if the company can maintain its momentum while navigating the challenges posed by geopolitical and supply chain issues.

The company’s Data Center segment has been a key driver of its success and is expected to deliver $29 billion in revenue for Q3, representing a remarkable 100% increase compared to the same period last year. Nvidia’s GPUs are the backbone of AI computing, enabling the training and deployment of sophisticated AI models. This has made the company a go-to provider for enterprises and tech giants seeking to harness the transformative power of AI.

While AI-related revenue has been the cornerstone of Nvidia’s growth, its gaming segment remains an important contributor, with revenue projected to reach $3 billion, up 7% year-over-year. The sustained demand for GPUs among gaming enthusiasts and professionals demonstrates the versatility and widespread application of Nvidia’s technology. Yet, the spotlight remains firmly on the AI sector, where Nvidia’s innovations continue to lead the industry.

However, the company faces looming uncertainties that could impact its future trajectory. Nvidia’s reliance on Taiwanese chipmaker TSMC for the production of its cutting-edge chips exposes it to geopolitical risks. President-elect Donald Trump’s proposal to impose tariffs on Taiwan-made chips could result in higher production costs for Nvidia, potentially squeezing margins or forcing the company to pass on the additional costs to customers. These potential tariffs come amid broader efforts to bolster domestic semiconductor production in the United States through initiatives like the CHIPS Act. Investors will be watching closely for any guidance from Nvidia’s CEO, Jensen Huang, on how the company plans to address these challenges.

Adding to these concerns are supply chain issues affecting Nvidia’s latest Blackwell chips, which are designed to meet the surging demand for AI applications. Reports of overheating servers have delayed shipments, creating uncertainty about the timeline for broader adoption of these next-generation chips. Despite these setbacks, Nvidia remains optimistic about the future of Blackwell and expects substantial revenue contributions from the line in the coming quarters.

Even with these challenges, Nvidia continues to dominate Wall Street’s attention. Analysts expect strong guidance for Q4, with projected revenues of $37 billion. Whether Nvidia’s stock continues its impressive ascent will depend on how effectively the company manages its challenges while capitalizing on the tremendous growth opportunities presented by the AI revolution.

Release – Ocugen Announces European Medicines Agency Grants Orphan Medicinal Product Designation for Modifier Gene Therapy Candidate OCU410ST for Treatment of ABCA4-Associated Retinopathies including Stargardt Disease

Posted on by aweinsoff@channelchek.com

Research News and Market Data on OCGN

November 20, 2024

MALVERN, Pa., Nov. 20, 2024 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines, today announced that the European Medicines Agency (EMA) has granted orphan medicinal product designation for OCU410ST for the treatment of ABCA4-associated retinopathies including Stargardt disease, retinitis pigmentosa 19 (RP19), and cone-rod dystrophy 3 (CORD3).

“We are deeply honored to receive orphan medicinal product designation from the EMA for OCU410ST. This recognition brings us one step closer to providing a much-needed option for Stargardt patients who currently have no therapies available,” said Dr. Arun Upadhyay, Chief Scientific Officer and Head of R&D at Ocugen. “We are committed to advancing this treatment with urgency and dedication, with the hope of making a meaningful impact on the lives of those affected by this challenging disease.”  

The U.S. Food and Drug Administration (FDA) previously granted orphan drug designation to OCU410ST in April 2023. Stargardt disease affects approximately 100,000 people in the U.S. and Europe combined.

Orphan medicinal product designation in Europe offers certain benefits to drug developers while they develop drugs intended for safe and effective treatment, diagnosis, or prevention of rare diseases or conditions that impact fewer than 5 in 10,000 patients in the European Union. Benefits include protocol assistance, reduced regulatory fees, research grants, and 10 years of market exclusivity following regulatory approval.

Dosing in the first phase of the Phase 1/2 OCU410ST GARDian trial for Stargardt disease is complete and the Data and Safety Monitoring Board (DSMB) has recommended moving forward with Phase 2. To date, the safety and tolerability profile of OCU410ST appears to be very favorable.

Preliminary efficacy and safety data from the Phase 1 dose-escalation portion of the Phase 1/2 OCU410ST GARDian clinical trial was recently presented at Ocugen’s Clinical Showcase. Data from evaluable subjects at six months demonstrated a remarkable 84% reduction in atrophic lesion growth in treated eyes versus untreated fellow eyes.

“We are encouraged by the preliminary efficacy data showing stabilization or improvement in visual function and retinal structure outcomes in OCU410ST treated eyes,” said Dr. Huma Qamar, Chief Medical Officer at Ocugen. “These positive clinical and regulatory milestones continue to support the potential for OCU410ST to address inherited retinal diseases with a one-time therapy for life.”

OCU410ST utilizes an AAV delivery platform for the retinal delivery of the RORA (RAR Related Orphan Receptor A) gene and further represents the impact of Ocugen’s modifier gene therapy approach, which is based on Nuclear Hormone Receptors (NHRs) that regulate diverse physiological functions such as photoreceptor development and maintenance, metabolism, phototransduction, inflammation and cell survival networks.

Ocugen intends to pursue an accelerated marketing authorization application (MAA) for OCU410ST.

About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines that improve health and offer hope for patients across the globe. We are making an impact on patient’s lives through courageous innovation—forging new scientific paths that harness our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with a single product, and we are advancing research in infectious diseases to support public health and orthopedic diseases to address unmet medical needs. Discover more at www.ocugen.com and follow us on X and LinkedIn.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, strategy, business plans and objectives for Ocugen’s clinical programs, plans and timelines for the preclinical and clinical development of Ocugen’s product candidates, including the therapeutic potential, clinical benefits and safety thereof, expectations regarding timing, success and data announcements of current ongoing preclinical and clinical trials, the ability to initiate new clinical programs; statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing of may not be predictive of the results or success of later clinical trials; and that that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. These and other risks and uncertainties are more fully described in our annual and periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contact:
Tiffany Hamilton
Head of Communications
Tiffany.Hamilton@ocugen.com

Release – Comstock Fuels Executes Commercial Agreement for Fourth Site

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on LODE

VIRGINIA CITY, Nev., Nov. 20, 2024 (GLOBE NEWSWIRE) — Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced execution of a binding amendment to an existing agreement between Comstock Fuels Corporation (“Comstock Fuels”) and SACL Pte. Limited (“SACL”), a Singapore-based renewable fuel project developer, under which Comstock Fuels agreed to grant SACL an exclusive marketing agreement for Comstock Fuels’ advanced lignocellulosic biomass refining processes in Vietnam. The amendment was executed to increase SACL’s territory to facilitate the financing, construction, and operation of SACL’s first planned site in Vietnam, in addition to three existing sites currently under development in Australia, now totaling over 460 million gallons of renewable fuels, with an emphasis on sustainable aviation fuel (“SAF”).

Early Adopter License Terms

SACL and its stakeholders previously identified three qualified sites for the construction of three Bioleum™ Refineries based on Comstock Fuels’ industry leading yields and decarbonizing impact, including (1) a 250,000 metric ton per year (“MTPY”) refinery located near Portland, Victoria, Australia, (2) a 250,000 MTPY refinery located near Moree, New South Wales, Australia, and (3) a 750,000 MTPY refinery located near Mackay, Queensland, Australia. However, SACL is actively evaluating additional projects for development in the Pacific Rim, including SACL’s now-planned new 750,000 MTPY Bioleum Refinery in Quang Tri Province, Vietnam.

Under the terms of Comstock Fuels’ agreement with SACL, Comstock Fuels will contribute site specific technology rights in exchange for a 20% equity stake in each Bioleum Refinery, plus a royalty fee equal to 6% of each refinery’s sales of licensed products, and engineering fees equal to 6% of total construction costs. At least one of the Bioleum Refineries will initially start with a capacity of 75,000 MTPY prior to scaling-up to 250,000 MTPY or more, with early adopter royalty fees of 3% of sales and engineering fees equal to 3% of construction costs until scaling-up to 250,000 MTPY, with an initial upfront payment of $2,500,000 payable upon execution of each applicable site-specific license agreement for each refinery.

Together, all four Bioleum Refineries will have an estimated total construction cost of over $4.0 billion and produce approximately 280 million gasoline gallon equivalent basis (“GGE”) of sustainable aviation fuel, and other renewable fuels from lignocellulosic biomass, and about another 180 million GGE from vegetable oils, with over $3.0 billion per year in sales at current prices.

Best-in-Class Yield and Carbon Intensity

Comstock Fuels offers advanced lignocellulosic biomass refining solutions that produce market-leading yields of cellulosic ethanol, gasoline, renewable diesel, sustainable aviation fuel, and other renewable fuels at extremely low carbon intensities. The Comstock Fuels process generally involves: (1) digestion and fractionation of lignocellulosic biomass, (2) bioconversion of cellulose into Cellulosic Ethanol, (3) esterification of lignin and other derivatives into Bioleum Oil, (4) hydrodeoxygenation of Bioleum Oil into Hydrodeoxygenated Bioleum Oil, (5) refining of these extremely low carbon oils and fuels into ASTM compliant renewable fuels, and (6) gas-to-liquids emissions capture and fuel conversion. The first five of these processes are proven to produce up to 125 GGE per dry metric ton of feedstock on a gasoline gallon equivalent basis, depending on feedstock, lignin content, site conditions, and other process parameters, with extremely low carbon intensity scores of 15.

Wide Open Market, Unprecedented Results

“Comstock Fuels’ breakthrough yields unlock an abundant, available and efficient feedstock source that enables extraordinary new opportunities for renewable fuels project developers, especially given the ongoing global surge in demand for sustainable aviation fuel,” said Garry Millar, SACL’s founder and director. “The Comstock Fuels’ patented and patent-pending process uses reliable, available equipment and standard refining processes to convert woody biomass, such as purpose grown eucalyptus in our case, into renewable intermediates and fuels that leverage existing supply chains. We are excited by this collaboration, and we are looking forward to working with the Comstock Fuels’ team and our local stakeholders to develop each of our projects as we continue assessing additional sites for qualification.”

“SACL’s team has rapidly advanced their projects, and we look forward to accelerating their objectives with our leading global solution for sustainable and extremely low carbon renewable fuels,” stated David Winsness, president of Comstock Fuels. “We are concurrently executing on our own plan to build, own, and operate our first four facilities in the U.S., including an initial 75,000 MTPY demonstration scale facility followed rapidly by three additional 75,000 MTPY facilities, each of which would then be scaled-up to 1,000,000 MTPY commercial scale Bioleum Refineries. Collectively, our first four planned U.S. facilities will produce more than 920 million GGE per year of renewable fuels, including about 560 million GGE from woody biomass and another 360 million GGE from vegetable oils. Between SACL and our initial plans alone, we are planning for over 1.38 billion GGE per year of initial renewable fuel production from our solutions before considering all other licensees and projects in our pipeline.”

About SACL Pte. Limited

SACL is a Singapore-based project development and management company that intends to develop renewable energy projects in Australia, New Zealand, and Vietnam. To learn more, please visit www.saclimited.com.

About Comstock Fuels Corporation

Comstock Fuels delivers advanced lignocellulosic biomass refining solutions that set industry benchmarks for production of cellulosic ethanol, gasoline, renewable diesel, sustainable aviation fuel (“SAF”), and other renewable fuels, with extremely low carbon intensity scores of 15 and market-leading yields of up to 125 gallons per dry metric ton of feedstock (on a gasoline gallon equivalent basis, or “GGE”), depending on feedstock, lignin content, site conditions, and other process parameters. Comstock Fuels plans to directly build, own, and operate a network of Bioleum Refineries in the U.S. to refine 50 million tons of biomass annually into 8 billion gallons of renewable fuel by 2035, corresponding to 50% of the U.S. renewable fuel mandate. Comstock Fuels is currently evaluating several U.S. sites for construction of its Demonstration Scale Facility to validate its fully integrated process at 75,000 tons per year, paving the way for rapid full-scale commercialization. Comstock Fuels also licenses its advanced refining solutions to third parties for additional production in the U.S. and global markets, including several recently announced and other pending projects. To learn more, please visit www.comstockfuels.com.

About Comstock Inc.

Comstock Inc. (NYSE: LODE) innovates and commercializes technologies that are deployable across entire industries to contribute to global decarbonization and the clean energy transition by efficiently extracting and converting under-utilized natural resources, such as waste and other forms of woody biomass into renewable fuels, and end-of-life electronics into recovered electrification metals. Comstock’s innovations group is also developing and using artificial intelligence technologies for advanced materials development and mineral discovery for sustainable mining. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its Twitter, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contacts

For investor inquiries:
RB Milestone Group LLC
Tel (203) 487-2759
ir@comstockinc.com

For media inquiries or questions:
Comstock Inc., Tracy Saville
Tel (775) 847-7573
questions@comstockinc.com

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

QuoteMedia Inc. (QMCI) – Working Through A Rough Patch

Posted on by cpereira@noblefcm.com


Wednesday, November 20, 2024

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Broadridge Financial Systems, JPMorgan Chase, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Telus International, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, IA Private Wealth, Ally Invest, Inc., Suncor, Virtual Brokers, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Cirano, Equisolve, Stock-Trak, Mergent, Cision, Day Trade Dash and others. Quotestream®, QModTM and Quotestream ConnectTM are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com.

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.

In-line results. The company reported Q3 revenue of $4.7 million, a decrease of 1.4% from the prior year period and largely in line with our estimate of $4.8 million. Q3 adj. EBITDA of $0.4 million, was modestly lighter than our estimate of $0.7 million, as illustrated in Figure #1 Q3 Results. The adj. EBITDA miss was driven by a modestly higher cost of revenue and increased sales headcount.

Lackluster near term outlook. Management indicated that Q4 revenue will be relatively flat compared to Q3 despite a solid business pipeline. Management highlighted that it lost a significant client and that some of its clients are experiencing financial hardship, leading to a lower volume and higher bad debt expenses. We believe the company should be able to offset lower volume and the loss of clients with its building business pipeline.


Get the Full Report

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. 

Ocugen (OCGN) – Interim Data From The Clinical Showcase Highlighted

Posted on by cpereira@noblefcm.com


Wednesday, November 20, 2024

Ocugen, Inc. is a biotechnology company focused on developing and commercializing novel gene therapies, biologicals, and vaccines. The lead product in its gene therapy program, OCU400, is in Phase 1/2 clinical trials for retinitis pigmentosa.

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

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

Summary Of Data Announced For Products In Clinical Trials. Ocugen summarized some of the major points presented at its Clinical Showcase on November 12. As discussed in our Research Note on November 13, speakers reviewed the products’ mechanisms of action, reviewed OCU400 data from the Phase 1/2 trial, the design of the OCU400 Phase 3 liMeliGhT trial, and presented new interim data from the Phase 1/2 ArMaDa trial for OCU410.

Mechanism of Action For The Modifier Gene Therapy (MGT) Detailed. Ocugen is developing gene therapies for retinal diseases that deliver a regulatory gene to control other genes and regulate downstream pathways. Products in development are for inherited diseases that result from multiple gene mutations or conditions that result from several dysfunctional pathways.


Get the Full Report

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. 

Kelly Services (KELYA) – Enhancing Education through Children’s Therapy Center Acquisition

Posted on by cpereira@noblefcm.com


Wednesday, November 20, 2024

Kelly (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 350,000 people around the world and connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was $4.9 billion. Visit kellyservices.com and let us help with what’s next for you.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Adding On. Expanding on the Company’s Pediatric Therapy Services (PTS) portfolio in the Education segment, yesterday Kelly announced the acquisition of Children’s Therapy Center (CTC). Notably, the acquisition increases the current network’s scale of licensed therapists to Kelly, enabling practice flexibility between clinics and schools. The terms of the acquisition were not disclosed, but we do not believe it will impact fourth quarter results.

CTC Overview. Headquartered in Eagan, Minnesota, CTC specializes in occupational, physical, and speech therapy for children from birth to 18 years old. The company was founded in 1999 and has two office locations, one in Eagan and the other in Apple Valley, MN. Various disorders that are treated through CTC include motor or speech delays, sensory processing disorders, Cerebral Palsy, Autism Spectrum Disorders, and Attention Deficit Disorder.


Get the Full Report

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. 

GeoVax Labs (GOVX) – Interim Analysis Shows CM04S1 Outperforms mRNA Vaccines

Posted on by cpereira@noblefcm.com


Wednesday, November 20, 2024

GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel therapies and vaccines for solid tumor cancers and many of the world’s most threatening infectious diseases. The company’s lead program in oncology is a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, presently in a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax’s lead infectious disease candidate is GEO-CM04S1, a next-generation COVID-19 vaccine targeting high-risk immunocompromised patient populations. Currently in three Phase 2 clinical trials, GEO-CM04S1 is being evaluated as a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, and as a booster vaccine in patients with chronic lymphocytic leukemia (CLL). In addition, GEO-CM04S1 is in a Phase 2 clinical trial evaluating the vaccine as a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. GeoVax has a leadership team who have driven significant value creation across multiple life science companies over the past several decades.

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

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

CM04S1 Continues In Phase 2 As DSMB Determines mRNA Vaccine Arm Failed Primary Endpoint. CM04S1 is in Phase 2 testing as a COVID-19 booster against an approved mRNA vaccine in patients with chronic lymphocytic leukemia (CLL). An interim analysis conducted by an independent Data Safety Monitoring and Review Board (DSMB) determined that the mRNA arm did not meet its specified primary endpoint, but the trial will continue with the CM04S1 arm.

Study Tests CM04S1 In Immunocompromised Patients. The Phase 2 study enrolled patients that are immunocompromised due to CLL and its therapies, which often leaves them unable to mount a sufficient immune response and vulnerable to COVID-19 infection. The trial was designed to determine the immune response with Pfizer’s mRNA vaccine as the control and comparator arm. Patients were randomized at 1:1 into two arms, receiving either two injections of CM04S1 three months apart or the mRNA vaccine. 


Get the Full Report

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. 

Release – Kelly Enhances Pediatric Therapy Services with Strategic Acquisition of Children’s Therapy Center, Bolstering Market Leadership

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on KELYA

  • Kelly’s acquisition of Children’s Therapy Center (CTC) further expands growth opportunities in the high-margin, high-demand therapeutic services segment.
  • The integration of CTC into Kelly Education’s Pediatric Therapy Services will bolster service delivery, offering Minnesota school districts access to comprehensive therapy solutions to address the increasing demand arising from student special education needs.
  • The addition of CTC brings increased scale to the current network of licensed therapists, enabling flexible practice in clinics or schools.

TROY, Mich., Nov. 19, 2024 (GLOBE NEWSWIRE) — Today, Kelly (Nasdaq: KELYA, KELYB) announced that it has acquired Children’s Therapy Center (CTC). Specializing in occupational, physical, and speech therapy for children from birth to eighteen, CTC operates from its headquarters in Eagan, MN, with an additional office in Apple Valley, MN. This acquisition will integrate CTC into Kelly Education’s Pediatric Therapy Services (PTS) portfolio. This provides opportunities for Minnesota school districts, including those who currently partner with Teachers On Call (TOC), a Kelly Education Company, to integrate PTS’s related therapy services to meet the growing demand of student special education needs. The terms of the acquisition were not disclosed.

“Children’s Therapy Center’s people-focused culture aligns well with Kelly’s values,” said Nicola Soares, president of Kelly Education. “CTC’s therapist-focused model emphasizes provider-child relationships and is dedicated to achieving positive outcomes for children. This expansion also enables us to bring value to the Center’s strong therapist retention practices by offering flexibility to practice in either school or clinical settings, underscoring our commitment to growth and comprehensive service delivery.”

CTC offers diverse interventions supported by continuous professional development for its therapists. Focused on delivering best-in-class service and ensuring the highest standards of care, CTC is committed to strong compliance, implementing robust processes to ensure adherence to federal, state, and local regulations.

“I am excited about the direction of this innovative adoption by Kelly Education’s PTS specialty brand, bringing together our unique strengths to advance holistic care for children,” said Sue Fuller, founder of Children’s Therapy Center. “This collaboration represents a unified vision and offers a remarkable opportunity to transform how we deliver services, ensuring that every child receives the support necessary for their growth and well-being.”

About Kelly

Kelly (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners, we connect job seekers around the world with meaningful work. Our suite of outsourcing and consulting services ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Visit kellyservices.com.

About Kelly Education

Kelly Education powers the future of learning through customized workforce solutions, including hiring and recruiting, business management, professional development, academic and social-emotional support across the full continuum of education––from PreK-12, special education, and therapeutic services to executive search and beyond. Kelly Education is a business of Kelly (Nasdaq: KELYA, KELYB), a global workforce solutions provider that connects businesses and individuals with limitless opportunities through meaningful work. Learn more at kellyeducation.com or connect with us on LinkedIn, Facebook, and X. 

Forward-Looking Statements

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Kelly’s financial expectations, are forward-looking statements. Factors that could cause actual results to differ materially from those contained in this release include, but are not limited to, (i) changing market and economic conditions, (ii) disruption in the labor market and weakened demand for human capital resulting from technological advances, loss of large corporate customers and government contractor requirements, (iii) the impact of laws and regulations (including federal, state and international tax laws), (iv) unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, (v) litigation and other legal liabilities (including tax liabilities) in excess of our estimates, (vi) our ability to achieve our business’s anticipated growth strategies, (vi) our future business development, results of operations and financial condition, (vii) damage to our brands, (viii) dependency on third parties for the execution of critical functions, (ix) conducting business in foreign countries, including foreign currency fluctuations, (x) availability of temporary workers with appropriate skills required by customers, (xi) cyberattacks or other breaches of network or information technology security, and (xii) other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release and we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

KLYA-FIN

Contact Information

Media Contact:
Danielle Nixon
816-737-8414
danielle.nixon@kellyservices.com		          Analyst Contact:
Scott Thomas
(248) 251-7264
scott.thomas@kellyservices.com