Page 4 – Channelchek

Release – V2X to Announce Third Quarter 2025 Financial Results

Posted on October 13, 2025October 13, 2025 by aweinsoff@channelchek.com

October 13, 2025

Download(opens in new window)

RESTON, Va., Oct. 13, 2025 /PRNewswire/ — V2X, Inc., (NYSE: VVX), a leading provider of global mission solutions, will report third quarter 2025 financial results on Monday, November 3, 2025, after market close. Senior management will conduct a conference call at 4:30 p.m. ET that same day.

U.S.-based participants may dial in to the conference call at 877-300-8521, while international participants may dial 412-317-6026. A live webcast of the conference call as well as an accompanying slide presentation will be available at https://app.webinar.net/80dR21K5Yr9 and on the Investors section of the V2X website at https://gov2x.com/.

A replay of the conference call will be posted on the V2X website shortly after completion of the call and will be available for one year. A telephonic replay will also be available through November 17, 2025, at 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 10202916.

About V2X
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.

Investor Contact
Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations
IR@goV2X.com
719-637-5773

Media Contact
Angelica Spanos Deoudes
Director, Corporate Communications
Angelica.Deoudes@goV2X.com
571-338-5195

View original content to download multimedia:https://www.prnewswire.com/news-releases/v2x-to-announce-third-quarter-2025-financial-results-302581312.html

SOURCE V2X, Inc.

Release – GeoVax Leadership to Participate in Key European Meetings to Advance Partnering Discussions

Posted on October 13, 2025October 13, 2025 by aweinsoff@channelchek.com

Research News and Market Data on GOVX

Executives to Participate at World Vaccine Congress Europe (Amsterdam, Oct 13–16) and BIO-Europe Fall (Vienna, Nov 3–5), and Meet With NGOs, Industry Partners and Academic Collaborators

ATLANTA, GA – October 13, 2025 – GeoVax Labs, Inc. (Nasdaq: GOVX), a clinical-stage biotechnology company developing multi-antigen vaccines and immunotherapies for infectious diseases and cancer, today announced that senior leadership will be in Europe over the coming weeks to advance partnering and collaboration engagement across the Company’s portfolio.

Chairman & Chief Executive Officer David A. Dodd and John Sharkey, PhD, Vice President, Business Development & Executive Lead for Mpox/Smallpox, together with other members of GeoVax’s senior team, will attend and host meetings at:

World Vaccine Congress Europe 2025 – October 14–16, 2025 | Amsterdam, Netherlands
BIO-Europe 2025 Fall – November 3–5, 2025 | Vienna, Austria

In addition to conference activities, the team will conduct meetings with global NGOs, including WHO, UNICEF, CEPI, Gavi, and the Africa CDC, as well as with established and prospective academic institutional collaborators across Europe.

“We are focused on solidifying durable relationships that can accelerate development in support of expanded access to critical vaccines and immunotherapies,” said David A. Dodd, Chairman & CEO of GeoVax. “We’re engaging with global health leaders and prospective partners to align on near-term opportunities in mpox/smallpox preparedness, addressing the critically unmet needs of immunocompromised patients relative to COVID-19, expanding the development breadth of Gedeptin^® as neoadjuvant cancer therapy, and to explore complementary collaborations across our broader platform.”

Partnering Focus Areas

GeoVax will highlight opportunities spanning its pipeline and technology platforms, including (but not limited to):

GEO-MVA (Mpox/Smallpox vaccine candidate): U.S.-based MVA program designed to accelerate access to a second-source of the critically needed GEO-MVA vaccine and rapid, scalable MVA manufacturing.
GEO-CM04S1 (multi-antigen COVID-19 vaccine): Designed to elicit robust T-cell and antibody responses; partnering priorities focused on addressing the current unmet needs of an estimated over 400 million immunocompromised patients worldwide.
Gedeptin^® (gene-directed enzyme prodrug therapy): A tumor-targeted immuno-oncology approach with potential combination synergies with checkpoint inhibitors, providing a potential new neoadjuvant therapy against solid tumors.
Broader MVA platform applications: Hemorrhagic fever and Zika programs; continuous cell-line manufacturing and potential technology-transfer collaborations.

“We continue to receive compelling interest from governments, NGOs, and potential industry collaborators, seeking diversified, resilient vaccine supply and clinically differentiated immunotherapies,” added Dr. John Sharkey. “Our goal is to convert that interest into structured collaborations that accelerate development, manufacturing readiness, and regional availability.”

Request a Meeting

Organizations interested in meeting with GeoVax during WVC Europe (Amsterdam, Oct 14–16) or BIO-Europe Fall (Vienna, Nov 3–5) – or at separate times/locations in Europe – are encouraged to contact:

Business Development: bd@geovax.com
Investor Relations: investor@geovax.com

Additional information about GeoVax and its programs is available at www.geovax.com.

About GeoVax

GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel vaccines against infectious diseases and therapies for solid tumor cancers. The Company’s lead clinical program is GEO-CM04S1, a next-generation COVID-19 vaccine currently in three Phase 2 clinical trials, being evaluated as (1) 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, (2) a booster vaccine in patients with chronic lymphocytic leukemia (CLL) and (3) a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. In oncology the lead clinical program is evaluating a novel oncolytic solid tumor gene-directed therapy, Gedeptin^®, having recently completed a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax is also developing a vaccine targeting Mpox and smallpox and, based on recent EMA regulatory guidance, anticipates progressing directly to a Phase 3 clinical evaluation, omitting Phase 1 and Phase 2 trials. GeoVax has a strong IP portfolio in support of its technologies and product candidates, holding worldwide rights for its technologies and products. For more information about the current status of our clinical trials and other updates, visit our website: www.geovax.com.

Forward-Looking Statements

This release contains forward-looking statements regarding GeoVax’s business plans. The words “believe,” “look forward to,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Actual results may differ materially from those included in these statements due to a variety of factors, including whether: GeoVax is able to obtain acceptable results from ongoing or future clinical trials of its investigational products, GeoVax’s immuno-oncology products and preventative vaccines can provoke the desired responses, and those products or vaccines can be used effectively, GeoVax’s viral vector technology adequately amplifies immune responses to cancer antigens, GeoVax can develop and manufacture its immuno-oncology products and preventative vaccines with the desired characteristics in a timely manner, GeoVax’s immuno-oncology products and preventative vaccines will be safe for human use, GeoVax’s vaccines will effectively prevent targeted infections in humans, GeoVax’s immuno-oncology products and preventative vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete development, there is development of competitive products that may be more effective or easier to use than GeoVax’s products, GeoVax will be able to enter into favorable manufacturing and distribution agreements, and other factors, over which GeoVax has no control.

Further information on our risk factors is contained in our periodic reports on Form 10-Q and Form 10-K that we have filed and will file with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Company Contact:

info@geovax.com

678-384-7220

Media Contact:

Jessica Starman

media@geovax.com

Release – V2X to Showcase Advanced Mission Solutions and Debuts “Tempest” Mobile Fires Platform at AUSA 2025

Posted on October 13, 2025October 13, 2025 by aweinsoff@channelchek.com

Research News and Market Data on VVX

October 13, 2025

Download(opens in new window)

RESTON, Va., Oct. 13, 2025 /PRNewswire/ — V2X, Inc. (NYSE: VVX) will showcase its mission-focused capabilities at the 2025 Association of the United States Army (AUSA) Annual Meeting, taking place Monday, October 13 through Wednesday, October 15 in Washington, D.C.

At this year’s event, V2X will highlight its integrated solutions that enhance U.S. Army readiness and support national security priorities. The company will debut “Tempest,” a rugged, COTS-based Mobile Fires Platform engineered for rapid, limited-exposure missions on the modern battlefield. Built for power, flexibility, and speed, Tempest redefines readiness in motion.

V2X will also feature demonstrations of its Warfighter Training and Readiness Solutions, the Gateway Mission Router (GMR), and its collaboration with Bell on a solution for the U.S. Army’s Flight School Next program, showcasing how V2X continues to drive readiness, modernization, and mission success.

Over the three-day event, V2X will demonstrate key solutions designed to meet the evolving needs of the U.S. Army and its mission partners at Booth #1405 in Exhibit Hall B.

Featured Solutions:

Tempest
Rugged COTS Vehicle with Dual Launchers and Advanced Counter-UAS
Tempest is a rugged, commercially based combat vehicle engineered for rapid, low-exposure missions. Outfitted with dual weapon launchers and a proven Counter-UAS capability, Tempest detects, engages, and defeats Class 2–3 UAS in adverse weather conditions—then withdraws before the enemy can cue effective counterfire. Stationary, trailer-mounted variants are also available for fixed-site defense.

Army Air-to-Ground Operations – Gateway Mission Router (GMR)
The GMR is a cyber-hardened, open-architecture solution that enhances air-to-ground operations and adapts to evolving mission requirements. Through intelligent routing of datalinks and platform capabilities, the GMR enables a comprehensive common operating picture, blending situational awareness and command-and-control data across multiple formats. New enhancements, including Wireless Intercom Capability and Maintenance Data Offload, expand GMR’s functionality in support of the Department of Defense’s Combined Joint All-Domain Command and Control initiative.

Army Aviation – Flight School Next
At Fort Novosel, the home of Army Aviation, V2X is collaborating with Bell Helicopter to support the U.S. Army’s Flight School Next program, training the next generation of Army aviators. With decades of aircraft maintenance experience supporting high-OPTEMPO DoD aviation training programs, V2X is uniquely qualified to deliver mission-ready aircraft and sustainment support to Bell and the Aviation Center of Excellence.

Warfighter Training Readiness Solutions
V2X provides enterprise-wide support for the U.S. Army’s Training Aids, Devices, Simulators, and Simulations (TADSS) network, offering flexible and scalable solutions that strengthen warfighter readiness. This initiative ensures that U.S. forces have access to the training and simulation tools needed to maintain mission readiness across all operational domains.

Media Contact
Angelica Spanos Deoudes
Director, Corporate Communications
Angelica.Deoudes@goV2X.com
571-338-5195

Investor Contact
Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations
IR@goV2X.com
719-637-5773

View original content to download multimedia:https://www.prnewswire.com/news-releases/v2x-to-showcase-advanced-mission-solutions-and-debuts-tempest-mobile-fires-platform-at-ausa-2025-302581619.html

SOURCE V2X, Inc.

Release – Alliance Resource Partners, L.P. Announces Third Quarter 2025 Earnings Conference Call

Posted on October 13, 2025October 13, 2025 by aweinsoff@channelchek.com

Research News and Market Data on ARLP

October 13, 2025

Download(opens in new window)

TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ: ARLP) will report its third quarter 2025 financial results before the market opens on Monday, October 27, 2025. Alliance management will discuss these results during a conference call beginning at 10:00 a.m. Eastern that same day.

To participate in the conference call, dial U.S. Toll Free (877) 407-0784 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. International callers should dial (201) 689-8560 and request to be connected to the same call. Investors may also listen to the call via the “Investors” section of ARLP’s website at www.arlp.com.

An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial U.S. Toll Free (844) 512-2921; International Toll (412) 317-6671 and request to be connected to replay using access code 13756408.

About Alliance Resource Partners, L.P.

ARLP is a diversified energy company that is currently the second largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is positioning itself as a reliable energy partner for the future by pursuing opportunities that support the growth and development of energy and related infrastructure.

News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at investorrelations@arlp.com.

Investor Relations
Cary P. Marshall
Senior Vice President and Chief Financial Officer
(918) 295-7673
investorrelations@arlp.com

Source: Alliance Resource Partners, L.P.

Resources Connection (RGP) – Post Call Commentary

Posted on October 13, 2025October 13, 2025 by cpatches

Monday, October 13, 2025

Resources Connection, Inc. provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support. It also provides information management services, such as program and project management, business and technology integration, data strategy, and business performance management. In addition, the company offers corporate advisory, strategic communications, and restructuring services; and corporate governance, risk, and compliance management services, such as contract and regulatory compliance, enterprise risk management, internal controls management, and operation and information technology (IT) audits. Further, it provides supply chain management services comprising strategy development, procurement and supplier management, logistics and materials management, supply chain planning and forecasting, and unique device identification compliance; and human capital services, including change management, organization development and effectiveness, compensation and incentive plan strategies, and optimization of human resources technology and operations. Additionally, the company offers legal and regulatory supporting services for commercial transactions, global compliance initiatives, law department operations, and law department business strategies and analytics. It also provides policyIQ, a proprietary cloud-based governance, risk, and compliance software application. The company was formerly known as RC Transaction Corp. and changed its name to Resources Connection, Inc. in August 2000. Resources Connection, Inc. was founded in 1996 and is headquartered in Irvine, California.

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.

Some Positives. The Company continues on its transformation path and is seeing encouraging signs, in our opinion. For example, the Company saw a return to growth in revenue for both the Europe & Asia- Pac segment and the Outsourced Services segment, with 5% and 4% growth over the prior year quarter. Revenue from the top 10 clients also grew year-over-year, and the enterprise-wide average bill rate increased to $120 on a constant currency basis, up from $118 a year ago.

Ongoing Cost Focus. The other side of the transformation plan is a focus on cost control. RGP continues to make good progress on its SG&A, as reflected in the quarter’s numbers. Post quarter, on September 30, 2025, in the face of continued end market sluggishness, RGP commenced a global reduction in its management and administrative workforce intended to enhance efficiencies through reduced costs and streamlined operations. Management expects approximately $6 million to $8 million of annual cost savings associated with this effort.

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.

NN (NNBR) – Noble Virtual Conference Highlights

Posted on October 13, 2025October 13, 2025 by cpatches

Monday, October 13, 2025

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.

Noble Virtual Conference. NN CEO Harold Bevis, CFO Chris Bohnert, and COO Tim French presented at the Noble Virtual Conference. Highlights included improving end markets outlook, an on track new business win program, and a focus on de-leveraging. A rebroadcast is available at https://www.channelchek.com/videos/nn-inc-nnbr-noble-capital-markets-virtual-conference-replay-october-2025.

Phase 2. NN is entering Phase 2 of its transformation program. Phase 1 structurally rebuilt NN’s operating performance and efficiency through fixing unprofitable areas, improving margins, and entering new markets. Phase 2 is a growth and de-leverage focus, implementing new business programs, expanding the TAM, and addressing the preferred stock.

Get the Full Report

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

FAT Brands (FAT) – Some Legal Resolution

Posted on October 13, 2025October 13, 2025 by cpatches

Monday, October 13, 2025

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

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.

Legal Resolution. In an 8-K filing, FAT Brands disclosed that the Company and certain current and former directors and officers have reached a settlement agreement with stockholders of the Company to resolve two lawsuits known as Harris I and Harris II. The Derivative Actions were filed in June 2021, relating to the Company’s December 2020 merger with Fog Cutter Capital Group, and in March 2022, relating to the Company’s June 2021 recapitalization.

Details. Under the terms of the settlement agreement, the Company’s Board of Directors agreed to adopt and implement certain corporate governance modifications. In addition, the Company’s insurers will pay to the Company $10 million, from which fees and expenses of plaintiffs’ counsel will be deducted, and Fog Cutter Holdings LLC will contribute 200,000 Class A shares of Twin Hospitality Group Inc. to the Company.

Get the Full Report

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

CoreCivic, Inc. (CXW) – Noble Virtual Conference Highlights

Posted on October 13, 2025October 13, 2025 by cpatches

Monday, October 13, 2025

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for nearly 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

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.

Noble Virtual Conference. CoreCivic CFO David Garfinkle and Managing Director of Investor Relations Jeb Bachmann presented at the Noble Virtual Conference. Highlights included increased demand, long-term trends, and return of capital. A rebroadcast is available at https://www.channelchek.com/videos/corecivic-cxw-noble-capital-markets-virtual-conference-replay-october-2025.

Market Share. CoreCivic remains the largest non-government owner of correctional and detention real estate in the U.S., owning approximately 57% of all privately owned correctional and detention capacity. The Company manages approximately 41% of all privately managed correctional and detention capacity.

Get the Full Report

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

Bloom Energy Soars on $5 Billion AI Infrastructure Partnership with Brookfield Asset Management

Posted on October 13, 2025October 13, 2025 by cpatches

Deal positions Bloom as a preferred power provider for Brookfield’s global AI factories and marks Brookfield’s first investment in its dedicated AI Infrastructure strategy

Shares of Bloom Energy (NYSE: BE) surged more than 20% in early trading Monday after the company announced a $5 billion strategic partnership with Brookfield Asset Management (NYSE: BAM, TSX: BAM) to develop and power next-generation AI infrastructure.

Under the agreement, Brookfield will invest up to $5 billion to deploy Bloom’s advanced fuel cell technology as the companies collaborate on the design and construction of “AI factories” — large-scale data centers purpose-built to meet the surging compute and energy demands of artificial intelligence. Bloom Energy will serve as Brookfield’s preferred onsite power provider for these facilities worldwide.

The partnership marks the first phase of a joint AI infrastructure vision and represents Brookfield’s inaugural investment through its newly established AI Infrastructure strategy, which focuses on power, compute, and capital integration for AI data centers. The two companies plan to announce their first European site before the end of the year.

“AI infrastructure must be built like a factory — with purpose, speed, and scale,” said KR Sridhar, Founder, Chairman and CEO of Bloom Energy. “AI factories demand massive power, rapid deployment and real-time responsiveness that legacy grids cannot support. Together with Brookfield, we’re creating a new blueprint for powering AI at scale.”

“Behind-the-meter power solutions are essential to closing the grid gap for AI factories,” added Sikander Rashid, Global Head of AI Infrastructure at Brookfield. “Bloom’s advanced fuel cell technology gives us the unique capability to design and construct modern AI factories with a holistic and innovative approach to power needs.”

A Blueprint for the AI Era

AI data centers are projected to require over 100 gigawatts of power in the U.S. alone by 2035, according to industry estimates. Bloom Energy’s solid oxide fuel cells generate electricity through chemical reactions rather than combustion, providing clean, resilient, and rapidly deployable onsite power — an attractive alternative to traditional grid dependency.

Bloom has already installed hundreds of megawatts of fuel cell systems supporting data centers for American Electric Power, Equinix, and Oracle. The company’s systems can be scaled modularly, reducing construction timelines and improving energy efficiency for high-demand AI applications.

Brookfield, one of the world’s largest alternative asset managers with over $1 trillion in assets under management, has been expanding aggressively into digital and energy infrastructure. Recent commitments include $9.98 billion to develop an AI data center in Sweden and €20 billion for AI projects in France. The firm also holds major stakes in Compass Datacenters, Duke Energy Florida, Colonial Enterprises, and Hotwire Communications, and recently inked a deal to supply Google with up to 3 GW of hydro power in the U.S.

Strategic Implications

The partnership underscores a growing convergence between energy technology and AI infrastructure. As the global race to build AI data centers accelerates, the need for reliable, low-carbon power sources has become a critical bottleneck. Brookfield’s capital and infrastructure expertise, combined with Bloom’s clean power solutions, could provide a scalable model for sustainable AI expansion.

For Bloom Energy, the partnership offers both near-term revenue visibility and long-term positioning at the center of AI-driven energy demand growth. For Brookfield, it establishes a strategic foothold in the AI ecosystem— one that aligns with its global energy transition and infrastructure investment priorities.

IsoEnergy to Acquire Toro Energy, Building a Diversified Uranium Powerhouse Across Canada, the U.S., and Australia

Posted on October 13, 2025October 13, 2025 by cpatches

Transaction strengthens IsoEnergy’s top-tier uranium portfolio with Toro’s flagship Wiluna Project and expands presence in key global jurisdictions amid rising nuclear demand

IsoEnergy Ltd. (NYSE American: ISOU) and Toro Energy Ltd. (ASX: TOE) have entered into a scheme implementation deed under which IsoEnergy will acquire all issued and outstanding ordinary shares of Toro. The all-stock transaction will create a globally diversified uranium developer with significant resources and near-term production potential across Canada, the United States, and Australia.

Under the terms of the agreement, Toro shareholders will receive 0.036 IsoEnergy shares for each Toro share held, representing a 79.7% premium to Toro’s last traded price and a 92.2% premium to its 20-day volume-weighted average price (VWAP). Upon completion, IsoEnergy and Toro shareholders will own approximately 92.9% and 7.1%, respectively, of the combined company on a fully diluted basis. The deal values Toro at approximately AUD 75 million (CAD 68 million / USD 49 million) and is expected to close in the first half of 2026, subject to shareholder and regulatory approvals.

A Strengthened Uranium Platform

The merger will add Toro’s Wiluna Uranium Project in Western Australia — comprising the Centipede-Millipede, Lake Way, and Lake Maitland deposits — to IsoEnergy’s existing portfolio, which includes the ultra-high-grade Hurricane deposit in Canada’s Athabasca Basin, several past-producing U.S. uranium mines, and other exploration assets across North America and Australia.

The combined resource base will include:

55.2 million pounds U₃O₈ (M&I) and 4.9 million pounds U₃O₈ (Inferred) compliant under NI 43-101
78.1 million pounds U₃O₈ (M&I) and 34.6 million pounds U₃O₈ (Inferred) compliant under JORC standards
Historical resources totaling 154.3 million pounds U₃O₈ (M&I) and 88.2 million pounds U₃O₈ (Inferred)

This creates one of the largest and most geographically diversified uranium portfolios among mid-tier developers.

Strategic and Market Rationale

The merger comes amid growing confidence in the uranium market’s long-term outlook. The World Nuclear Association’s 2025 Fuel Report projects uranium demand to rise roughly 30% by 2030 and more than double by 2040. IsoEnergy’s expanded scale and jurisdictional diversification position it to capture value from this structural supply-demand imbalance.

Australia, home to the Wiluna Project, ranks #1 globally for uranium resources and is among the Top 5 producers worldwide. Western Australia is emerging as a key uranium jurisdiction alongside Cameco’s Kintyre and Yeelirrie projects and Deep Yellow’s Mulga Rock development.

“The acquisition of Toro Energy marks another important step in advancing IsoEnergy’s strategy to build a globally diversified, development-ready uranium platform,” said Philip Williams, CEO and Director of IsoEnergy. “The Wiluna Uranium Project strengthens our portfolio with a large, previously permitted asset in a top-tier jurisdiction at a time when global nuclear demand is accelerating.”

Richard Homsany, Executive Chairman of Toro, added, “This transaction creates significant value for our shareholders and provides an opportunity to participate in a larger, leading uranium company listed on the TSX and NYSE. Toro shareholders will gain exposure to a diverse uranium portfolio with strong growth potential and enhanced access to capital.”

Positioned for Growth

The merged entity will have enhanced balance sheet strength, improved access to global capital markets, and a broader platform for value-accretive growth opportunities across the uranium cycle. Following completion, Toro will be delisted from the Australian Securities Exchange (ASX), while IsoEnergy will remain publicly traded in Toronto and New York.

The deal follows IsoEnergy’s previously announced — and later terminated — plan to acquire Anfield Energy in early 2024, reflecting the company’s continued pursuit of strategic, scale-building opportunities in the uranium sector. Major Toro shareholders, including Mega Uranium Ltd. (12.7%) and its associate Mega Redport Pty Ltd., have indicated their intention to vote in favor of the scheme, provided no superior proposal emerges.

Bristol Myers Squibb Expands Cell Therapy Reach with $1.5 Billion Acquisition of Orbital Therapeutics

Posted on October 10, 2025October 10, 2025 by cpatches

Deal strengthens BMS’s leadership in cell therapy and adds next-generation RNA platform for in vivo CAR-T development

Bristol Myers Squibb (NYSE: BMY) announced it will acquire Orbital Therapeutics, a privately held biotechnology company pioneering RNA medicines designed to reprogram the immune system in vivo. The $1.5 billion all-cash deal expands BMS’s industry-leading cell therapy portfolio with Orbital’s proprietary RNA technology and its lead preclinical candidate, OTX-201, a next-generation CAR T-cell therapy for autoimmune diseases.

Orbital’s OTX-201 uses circular RNA encoding a CD19-targeted CAR, delivered via lipid nanoparticles (LNPs), to trigger in vivo expression of CAR T-cells — effectively transforming the patient’s own body into a CAR T-cell manufacturing system. This approach could significantly reduce treatment burden and broaden accessibility compared to traditional ex vivo CAR T-cell therapies.

The transaction, subject to customary closing conditions and regulatory review under the Hart-Scott-Rodino Act, marks Bristol Myers Squibb’s first major acquisition of 2025. The company has been seeking to diversify beyond mature blockbusters such as Eliquis and Revlimid, reinforcing investor confidence in its long-term growth trajectory through next-generation therapies.

“This agreement with Bristol Myers Squibb, a recognized leader in global medicine, marks a transformational moment for Orbital and the advancement of RNA medicine,” said Ron Philip, Chief Executive Officer of Orbital Therapeutics. “The promising early data from our lead program underscore the potential of our integrated RNA technologies to deliver simpler, safer, and more accessible treatments.”

“With the acquisition of Orbital Therapeutics and its next-generation RNA platform, we have an incredible opportunity to make CAR T-cell therapy more efficient and accessible to more patients,” added Lynelle B. Hoch, President of BMS’s Cell Therapy Organization.

Orbital’s RNA platform integrates circular and linear RNA engineering, advanced LNP delivery, and AI-driven design to enable programmable RNA therapies that can be tailored to a wide range of diseases. Beyond its autoimmune focus, the technology could have broad applications across oncology and other immune-mediated disorders.

This move positions BMS alongside other major pharmaceutical companies racing to develop in vivo cell therapies. AbbVie acquired Capstan Therapeutics in a $2.1 billion deal in June, Gilead’s Kite Pharma purchased Interius BioTherapeutics for $350 million in August, and AstraZeneca made a $1 billion buyout of EsoBiotec earlier this year.

BMS has been steadily building its cell therapy capabilities since its 2019 acquisition of Celgene, which brought in CAR T programs from bluebird bio and Juno Therapeutics. Earlier this year, it also acquired 2seventy bio for $286 million, consolidating full ownership of Abecma, a CAR T therapy for multiple myeloma.

Founded in 2022 and backed by Arch Venture Partners and other investors, Orbital Therapeutics raised $270 million in 2023 to advance its RNA platform under the leadership of former Spark Therapeutics CEO Ron Philip. The company identified in vivo CAR T-cell therapies as its first clinical focus — a vision that now aligns with BMS’s strategy to drive innovation in autoimmune and cell-based therapies.

AZZ (AZZ) – A Multi-Year Growth Story

Posted on October 10, 2025October 10, 2025 by cpatches

Friday, October 10, 2025

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

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

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

FY 2026 second-quarter results. AZZ reported adjusted net income of $46.9 million, or $1.55 per share, compared to $41.3 million, or $1.37 per share, during the prior year period. We projected adjusted net income of $46.7 million, or $1.54 per share. Compared to the second quarter of FY 2025, total sales increased 2.0% to $417.3 million. We had projected sales of $428.3 million. Gross margin of $101.3 million was modestly below our estimate of $104.7 million. Adjusted EBITDA declined modestly to $88.7 million compared to $91.9 million during the prior year period and our estimate of $93.4 million. Adjusted EBITDA margin as a percentage of sales declined to 21.3% compared to 22.5% during the prior year quarter.

Updating estimates. We have lowered our FY 2026 revenue, adjusted EBITDA, and adjusted EPS estimates to $1.642 billion, $369.2 million, and $5.98 per share, respectively, from $1.660 billion, $374.9 million, and $6.00 per share. Our revised forecasts reflect second-quarter results and more moderate sales growth in the second half of the year. Our longer-term estimates through FY 2031 reflect multi-year growth and are summarized at the end of this report. Our estimates could prove conservative if AZZ is successful in consummating acquisitions, which we do not reflect in our estimates until announced.

Get the Full Report

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

Runway Growth Finance to Acquire SWK Holdings in $220 Million NAV-for-NAV Merger

Posted on October 10, 2025October 10, 2025 by cpatches

Transaction expands Runway’s healthcare and life sciences footprint and strengthens its specialty finance platform

Runway Growth Finance Corp. (Nasdaq: RWAY) announced it has entered into a definitive merger agreement to acquire SWK Holdings Corporation (Nasdaq: SWKH) in a net asset value (“NAV”)-for-NAV transaction valued at approximately $220 million, based on SWK’s June 30, 2025 financials and estimated transaction expenses. The deal combines two specialty finance firms with complementary portfolios and shared focus on non-dilutive, growth-oriented capital solutions.

Under the terms of the agreement, consideration to SWK stockholders will include $75.5 million in Runway Growth shares valued at closing NAV per share and approximately $145 million in cash, subject to final NAV adjustments prior to closing. In addition, Runway Growth Capital LLC, Runway’s external investment adviser and an affiliate of BC Partners Advisors L.P., will contribute $9 million in cash to SWK stockholders, separate from the primary merger consideration.

Strategic Expansion in Healthcare and Life Sciences

The merger significantly enhances Runway’s exposure to the healthcare and life sciences sectors. Upon completion, healthcare investments will comprise approximately 31% of Runway’s portfolio, up from 14% as of June 30, 2025. The combined company will have an estimated $1.3 billion in total assets, providing greater scale, diversification, and a broader investment platform for future growth.

SWK Holdings specializes in providing minimally dilutive financing to small- and mid-sized, commercial-stage healthcare companies through structured debt, royalty monetization, and asset-based transactions. Integrating SWK’s portfolio and experienced life sciences team will expand Runway’s deal sourcing and underwriting capabilities in one of the fastest-growing areas of specialty finance.

Enhanced Financial Profile and Growth Opportunities

Runway expects the transaction to be accretive to net investment income (NII) by the first full quarter post-closing, generating mid-single-digit run-rate NII accretion, while improving dividend coverage and return on equity (ROE). The company also anticipates a pro forma leverage ratio increase, expanding its nominal borrowing capacity and supporting continued risk-adjusted returns.

“This transaction meaningfully advances our strategy to diversify and optimize our portfolio by adding SWK’s high-quality investments in healthcare and life sciences,” said David Spreng, Founder and CEO of Runway Growth Finance. “We’re enhancing our earnings power while reinforcing portfolio strength and positioning for long-term value creation. With the support of BC Partners, we continue to pursue both organic and inorganic growth opportunities as a permanent capital vehicle backed by the $10 billion BC Partners Credit platform.”

A Repeatable Blueprint for Growth

Runway described the merger as a non-dilutive, repeatable model for future transactions within the venture and growth lending ecosystem. The company expects to benefit from both expanded scale and greater market visibility through the issuance of Runway Growth shares to SWK stockholders, broadening its shareholder base and trading liquidity.

Company Overviews

Runway Growth Finance Corp. is a specialty finance company providing flexible debt and structured financing to late- and growth-stage companies seeking an alternative to equity dilution. The company operates as a closed-end investment fund regulated as a business development company (BDC) under the Investment Company Act of 1940 and is externally managed by Runway Growth Capital LLC.

SWK Holdings Corporation is a life sciences-focused specialty finance company that partners with small- and mid-sized healthcare firms to fund the development and commercialization of medical technologies. Its customized financing solutions typically range from $5 million to $25 million and are designed to support long-term value creation while minimizing equity dilution.