Page 187 – Channelchek

Release – Schwazze Announces Transition to OTC Expert Market and Provides Update on Delayed Filing

Posted on July 2, 2024July 2, 2024 by dburczyk@noblecapitalmarkets.com

DENVER, July 01, 2024 (GLOBE NEWSWIRE) — Medicine Man Technologies, Inc., operating as Schwazze, (OTCQX: SHWZ) (Cboe CA: SHWZ) (“Schwazze” or the “Company”), today announced that its common stock will soon transition to the OTC Expert Market, under the ticker symbol “SHWZ” due to the Company’s delayed filing of its Form 10-Q for the period ended March 31, 2024, with the Securities and Exchange Commission (“SEC”). The delay was a result of an SEC Order regarding the Company’s previous auditor, BF Borgers CPA PC (“BF Borgers”), who was dismissed as Schwazze’s auditor prior to the SEC’s Order.

As previously announced on April 8, 2024, Schwazze dismissed BF Borgers as its independent registered public accountant and engaged Baker Tilly US, LLP (“Baker Tilly”) as its new independent accountant. Subsequent to the transition, on May 3, 2024, the SEC issued an Order to BF Borgers and its owner citing the deliberate and systemic failures to comply with Public Company Accounting Oversight Board (“PCAOB”) standards in its audits and reviews, which were incorporated in more than 1,500 SEC filings from January 2021 through June 2023 and affected at least 75 percent of BF Borgers’ 369 clients.

As a result of the SEC Order, the Company’s new auditor needs additional time to complete its prior period review before the Company files its Quarterly Report for the three months ended March 31, 2024. In addition, Baker Tilly is re-auditing its fiscal year 2023 financial statements and re-review the closing of its 2022 balance sheet prior to filing its 2024 Annual Report. Baker Tilly is actively working to re-audit the Company’s financial statements for the associated periods.

The Company intends to complete the necessary work to be current in its reporting obligations with the SEC in the coming months.

“Our decision to dismiss BF Borgers as our auditor was a strategic move to bolster our accounting rigor and it proved to be the right decision given the SEC’s subsequent charges on BF Borgers,” said Forrest Hoffmaster, Interim CEO of Schwazze. “Although our OTC listing was affected by BF Borgers’ actions, we are diligently working with our new auditor to complete the re-audit process in an efficient and timely manner. We are also pursuing recoveries for all fees related to BF Borgers.”

As a result of the delayed filing, Schwazze has sought from, and is in communication with, the Ontario Securities Commission (“OSC”) concerning the availability of a management cease trade order (“MCTO”) in respect of the missed deadline for the Quarterly Report ended March 31, 2024. If an MCTO is granted, it is expected that the general investing public will continue to be able to trade in the Company’s listed common shares, however, the Company’s Named Executive Officers will not be able to trade in the Company’s common shares. The Company confirms it will comply with the provisions of the alternative information guidelines under National Policy 12-203 – Management Cease Trade Orders for so long as an MCTO remains in effect.

About Schwazze

Schwazze (OTCQX: SHWZ) (Cboe CA: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to explore taking its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.

Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.

Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth. To learn more about Schwazze, visit https://schwazze.com/.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include financial outlooks; any projections of net sales, earnings, or other financial items; any statements of the strategies, plans and objectives of our management team for future operations; expectations in connection with the Company’s previously announced business plans; any statements regarding future economic conditions or performance; and statements regarding the intent, belief or current expectations of our management team. Such statements may be preceded by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intends,” “plans,” “strategy,” “prospects,” “anticipate,” “believe,” “approximately,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other words of similar meaning in connection with a discussion of future events or future operating or financial performance, although the absence of these words does not necessarily mean that a statement is not forward-looking. We have based our forward-looking statements on management’s current expectations and assumptions about future events and trends affecting our business and industry. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Therefore, forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) regulatory limitations on our products and services and the uncertainty in the application of federal, state, and local laws to our business, and any changes in such laws; (ii) our ability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (iii) our ability to identify, consummate, and integrate anticipated acquisitions; (iv) general industry and economic conditions; (v) our ability to access adequate capital upon terms and conditions that are acceptable to us; (vi) our ability to pay interest and principal on outstanding debt when due; (vii) volatility in credit and market conditions; (viii) the loss of one or more key executives or other key employees; and (ix) other risks and uncertainties related to the cannabis market and our business strategy. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
ir@schwazze.com

Release – Lifeway Foods® Announces Inclusion in Russell 2000® Index

Posted on July 2, 2024July 2, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on LWAY

Leading kefir company added as part of 2024 Russell Reconstitution

MORTON GROVE, Ill., July 1, 2024 /PRNewswire/ — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that the Company has been included in the Russell 2000® and Russell 3000® Indexes, as part of the annual reconstitution of the Russell stock indexes, effective at the open of U.S. equity markets on July 1, 2024.

“We are pleased that Lifeway has earned inclusion in the Russell indexes,” said Julie Smolyansky, President and Chief Executive Officer of Lifeway Foods. “With our recent earnings report marking an incredible string of 18 consecutive quarters of revenue growth and 4 consecutive quarters of record net sales, we welcome the elevated visibility within the investment community. Being part of the Russell indexes enhances our visibility to the many institutions and funds that consider them a key market reference point. We are excited about the opportunity to increase our exposure and continue creating shareholder value.”

The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. For more information on the Russell Indexes and the Reconstitution, visit the “Russell Reconstitution” section on the FTSE Russell website.

About Lifeway Foods, Inc.
Lifeway Foods, Inc., which has been recognized as one of Forbes’ Best Small Companies, is America’s leading supplier of the probiotic, fermented beverage known as kefir. In addition to its line of drinkable kefir, the company also produces a variety of cheeses and a ProBugs line for kids. Lifeway’s tart and tangy fermented dairy products are now sold across the United States, Mexico, Ireland and France. Learn how Lifeway is good for more than just you at lifewayfoods.com.

Media:
Derek Miller
Vice President of Communications, Lifeway Foods
Email: derekm@lifeway.net

General inquiries:
Lifeway Foods, Inc.
Phone: 847-967-1010
Email: info@lifeway.net

Resources Connection (RGP) – Noble Consumer Virtual Conference

Posted on July 2, 2024July 2, 2024 by cpereira@noblefcm.com

Tuesday, July 02, 2024

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.

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

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

Conference. We hosted Resources Connection CEO Kate Duchene and CFO Jennifer Ryu at the Noble Capital Emerging Growth Conference on June 26th. Management’s presentation as well as a Q&A session can be found at https://www.channelchek.com/videos/resources-connection-inc-rgp-noble-capital-markets-virtual-consumer-tmt-conference-replay. The following are key highlights of the presentation.

Poised to Capitalize on the Upcycle. With client decision timetables extending during 2023, management mitigated costs but retained key consultants in anticipation of a return to normal business trends. North America, which carries a higher margin profile than its International segment, appears poised to break out, with RGP in discussions with clients about budgets and looking at assessments.

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

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

Information Services Group (III) – Noble Consumer Virtual Conference

Posted on July 2, 2024July 2, 2024 by cpereira@noblefcm.com

Tuesday, July 02, 2024

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For additional information, visit www.ISG-One.com

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.

Conference. We hosted Information Services Group CEO Michael Connors and CFO Michael Sherrick at the Noble Capital Emerging Growth Conference on June 26th. The entire presentation and Q&A session can be found at https://www.channelchek.com/videos/isg-iii-noble-capital-markets-virtual-consumer-tmt-conference-replay . The following are key highlights of the presentation.

Recurring Revenue. ISG highlighted its goal of reaching $150 million in recurring revenue. The Company had recurring revenue of $125 million in 2023, a 16% uplift from 2022. ISG is already off to a good start in 2024 as approximately half of the Company’s $64.3 million of first quarter revenue was recurring. We believe that the Company can achieve its goal.

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

Comtech Telecommunications (CMTL) – Noble Consumer Virtual Conference

Posted on July 2, 2024July 2, 2024 by cpereira@noblefcm.com

Tuesday, July 02, 2024

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

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.

Conference. We hosted Comtech Communications CFO Michael Bondi at the Noble Capital Emerging Growth Conference on June 26th. Mr. Bondi’s presentation and a Q&A session can be accessed at https://www.channelchek.com/videos/comtech-telecommunications-cmtl-noble-capital-markets-virtual-consumer-tmt-conference-replay. The following are key highlights of the presentation.

Company Wins. Management highlighted key contract wins of the past twelve months including the $544 million GFSR contract, nearly $50 million of Army SATCOM solutions, and numerous NG911 awards, including Massachusetts, Washington, and North Central Texas. These awards will not only drive future operating results but are a testament to Comtech’s position in the marketplace, even during its turbulent refi process.

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

Bit Digital (BTBT) – Noble Consumer Virtual Conference

Posted on July 2, 2024July 2, 2024 by cpereira@noblefcm.com

Tuesday, July 02, 2024

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.

Conference. We hosted Bit Digital CEO Sam Tabar at the Noble Capital Emerging Growth Conference on June 27th. The presentation and Q&A session can be found at https://www.channelchek.com/videos/bit-digital-btbt-noble-capital-markets-virtual-consumer-tmt-conference-replay. The following are key highlights of the presentation.

Bit Digital AI. The $100 million annual run rate goal is within reach as the expanded HPC services contract is now at a $92 million annualized revenue run-rate. The pipeline here is growing and we anticipate additional customers before year-end. Notably, HPC revenue generates significantly higher margins than the mining business, partially due to an energy cost that is 15x less. Management’s goal is to become a leading provider of AI infrastructure as a service to the EMEA region.

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

Key Factors Shaping Q3 2024’s Financial Markets

Posted on July 2, 2024July 2, 2024 by slightbourne@noblecapitalmarkets.com

As we enter the third quarter of 2024, investors are turning their attention to the upcoming June jobs report, which will provide crucial insights into the state of the U.S. labor market. This report, set to be released on Friday, July 5, is expected to show a cooling but still resilient job market, with forecasts predicting 188,000 nonfarm payroll jobs added and unemployment holding steady at 4%.

The jobs report comes at a pivotal time, as the stock market has seen impressive gains in the first half of the year. The S&P 500 is up 14.5%, while the tech-heavy Nasdaq Composite has surged over 18%. The Dow Jones Industrial Average, however, has posted a more modest gain of 3.8%.

These gains have been largely driven by a handful of tech giants, with over two-thirds of the S&P 500’s increase attributed to just seven companies: Nvidia, Apple, Alphabet, Microsoft, Amazon, Meta, and Broadcom. Notably, Nvidia alone accounts for nearly one-third of these gains, underscoring the outsized impact of the AI boom on market performance.

This concentration of gains has sparked debate among market watchers about whether the rally will broaden to other sectors in the second half of the year. So far, only two sectors – Communications Services and Information Technology – have outperformed the S&P 500, both up more than 18%.

The dominance of tech companies is expected to continue into the second quarter earnings season. The six largest tech firms (Nvidia, Apple, Alphabet, Microsoft, Amazon, and Meta) are projected to grow their earnings by an impressive 31.7%, far outpacing the overall S&P 500’s expected growth of 7.8%.

This stark contrast in earnings growth has helped fuel the ongoing rally in tech stocks. Since March 31, while the S&P 500’s earnings estimates have dipped by just 0.1% (compared to a typical 3.3% decline), estimates for the top six tech companies have actually been revised upward by 3.9%.

As we move into the third quarter, investors and analysts will be closely watching whether these tech behemoths can maintain their stellar performance. The sustainability of their earnings growth remains a key question that could significantly impact market direction in the coming months.

Meanwhile, the broader economic picture continues to evolve. Recent inflation data has shown positive trends, with prices increasing at their slowest pace since March 2021. This development, combined with signs of a gradual cooling in the labor market, has led some economists to argue that the Federal Reserve should consider cutting interest rates sooner rather than later.

However, the Fed has maintained its restrictive stance on interest rates, focusing on bringing inflation down to its 2% target. The upcoming jobs report and other economic indicators will be crucial in shaping the Fed’s future policy decisions.

As we head into a holiday-shortened trading week, with markets closing early on July 3 and remaining closed on July 4 for Independence Day, investors will have limited time to digest the latest economic data. The week will see releases on manufacturing and services sector activity, job openings, and private payrolls, culminating in Friday’s all-important jobs report.

In conclusion, as we begin Q3 2024, the market remains buoyant but highly concentrated in the tech sector. The interplay between economic data, Fed policy, and the performance of tech giants will likely define the market’s trajectory in the coming months, with all eyes on whether the rally can broaden beyond the current narrow leadership.

Boeing’s $4.7 Billion Gamble: Will This Shock Acquisition Save the Struggling Aerospace Giant?

Posted on July 1, 2024July 1, 2024 by slightbourne@noblecapitalmarkets.com

In a significant move that’s reshaping the aerospace industry, Boeing has announced its decision to acquire Spirit AeroSystems in an all-stock deal valued at $4.7 billion. This strategic maneuver, which brings Spirit’s equity value to $8.3 billion including debt, marks a pivotal moment in Boeing’s efforts to streamline its supply chain and address ongoing quality control issues.

The acquisition comes at a critical juncture for Boeing, following a series of setbacks that have dented its reputation and financial performance. The company’s stock has plummeted by over 30% this year, underscoring the urgency for transformative action. By bringing Spirit AeroSystems back into the fold, Boeing aims to regain control over a crucial segment of its production process, potentially mitigating the quality concerns that have plagued its operations.

Spirit AeroSystems, which was spun off from Boeing in 2005, has been a key supplier for the aerospace giant, accounting for approximately 70% of its revenue. The company manufactures critical components for Boeing’s aircraft, including fuselages for the 737 and sections of the 787 Dreamliner. However, both companies have struggled with manufacturing flaws, most notably highlighted by the recent mid-flight door panel blowout on an Alaska Airlines 737 Max 9.

From an investor’s perspective, this acquisition presents both opportunities and challenges. On the positive side, the deal could lead to improved quality control and streamlined production processes, potentially reducing costly delays and enhancing Boeing’s ability to meet delivery targets. This integration may also result in significant cost synergies and operational efficiencies, which could bolster Boeing’s profitability in the long term.

However, the transaction also carries risks. Boeing’s decision to take on additional debt at a time when it’s facing financial pressures could strain its balance sheet. The company has already warned of negative cash flow in the first half of 2024, and integrating Spirit’s operations will require substantial resources and management attention.

The market reaction to this deal will be closely watched. While Boeing’s stock has been under pressure, the potential for improved operational performance could lead to a positive reassessment by investors. Conversely, Spirit AeroSystems’ shareholders stand to benefit from the premium offered in the all-stock transaction, with the $37.25 per share offer representing a significant uplift from recent trading levels.

This acquisition also has broader implications for the aerospace supply chain. By bringing a major supplier in-house, Boeing is signaling a shift towards greater vertical integration. This move could prompt other aerospace manufacturers to reevaluate their supply chain strategies, potentially leading to further consolidation in the industry.

For Airbus, Boeing’s main rival, the deal presents both challenges and opportunities. While Airbus will lose access to Spirit’s manufacturing capabilities, it will receive a $559 million compensation package and gain control over key production lines. This could allow Airbus to streamline its own supply chain and potentially gain a competitive edge in certain aircraft programs.

Investors should also consider the regulatory implications of this deal. Given the critical nature of aerospace manufacturing and its importance to national security, the transaction will likely face scrutiny from regulators. The timeline for closing, projected for mid-2025, reflects the complex approval process ahead.

Boeing’s acquisition of Spirit AeroSystems represents a significant shift in the aerospace manufacturing landscape. For investors, it offers a potential turnaround story for Boeing, albeit with considerable execution risks. The deal’s success will hinge on Boeing’s ability to effectively integrate Spirit’s operations, improve quality control, and restore confidence in its production capabilities. As the aerospace industry continues to evolve, this acquisition may well be remembered as a defining moment in Boeing’s efforts to regain its position as a leader in commercial aviation.

Release – Tonix Pharmaceuticals Awarded Up to $34 Million U.S. Department of Defense Contract for Accelerated Development of Broad-Spectrum Antiviral Program

Posted on July 1, 2024July 1, 2024 by aweinsoff@channelchek.com

Research News and Market Data on TNXP

July 01, 2024 8:00am EDT Download as PDF

Defense Threat Reduction Agency (DTRA) contract is expected to advance development of Tonix’s broad-spectrum oral antiviral program TNX-4200 for medical countermeasures

CHATHAM, N.J., July 01, 2024 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company), a fully-integrated biopharmaceutical company with marketed products and a pipeline of development candidates, today announced it has been awarded an Other Transaction Agreement (OTA) with a potential for up to $34 million over five years by the Defense Threat Reduction Agency (DTRA), an agency within the U.S. Department of Defense (DoD). The objective of the contract is to develop small molecule broad-spectrum antiviral agents for the prevention or treatment of infections to improve the medical readiness of military personnel in biological threat environments.

Tonix’s program will focus on optimization and development of its TNX-4200 program, to develop an orally available CD45 antagonist, with broad-spectrum efficacy against a range of viral families through preclinical evaluation. The program is expected to establish physicochemical properties, pharmacokinetics, and safety attributes to support an Investigational New Drug (IND) submission and to fund a first-in-human Phase 1 clinical study.

“Through our agreement with DTRA, our broad-spectrum antiviral research program will address the DoD’s goal of protecting U.S. Joint Forces in the event biological weapons are introduced onto the battlefield,” said Seth Lederman, M.D., President, and Chief Executive Officer of Tonix. “The DoD announced in December 2022 that they are moving beyond a ‘one bug, one drug’ approach and are seeking broad-spectrum drugs since one cannot predict which or how many viruses may be deployed.¹ This funding provides important validation for our ongoing research and current in-house capabilities, and will enable Tonix to advance its antiviral discovery program.”

The $34 million five-year contract will help fund and accelerate the development of the Company’s broad-spectrum antiviral program, which has the potential to reduce viral load and allow the adaptive immune system to alert the other arms of the immune system to mount a protective response. Tonix plans to leverage previous research on phosphatase inhibitors, specifically compounds that target CD45, to optimize lead compounds for therapeutic intervention of biothreat agents and provide the government with a complete and cost-effective solution for a broad-spectrum medical countermeasure. Tonix’s premise is that partial inhibition of CD45 will provide optimal antiviral protection while requiring lower plasma drug concentrations, a lower dose, and a better safety profile.

Tonix will utilize its state-of-the-art research laboratory capabilities, including a Biosafety Level 3 (BSL-3) lab and an Animal Biosafety Level 3 (ABSL-3) facility at its research and development center (RDC) located in Frederick, Md., as well as experienced personnel in-house. The RDC is located in Maryland’s ‘I-270 biotech corridor’ and is close to the center of the U.S. biodefense research community.

¹ “Approach for Research, Development, and Acquisition of Medical Countermeasure and Test Products.” 2022. Chemical and Biological Defense Program. U.S. Department of Defense. https://media.defense.gov/2023/Jan/10/2003142624/-1/-1/0/APPROACH-RDA-MCM-TEST-PRODUCTS.PDF (accessed March 5, 2024)

About Defense Threat Reduction Agency (DTRA)

The Defense Threat Reduction Agency (DTRA), an agency within the United States Department of Defense (DoD) is both a Defense Agency and Combat Support Agency with two distinct yet highly integrated roles countering Weapons of Mass Destruction (WMD) and emerging threats. Its origins stretch back to World War II and the Manhattan Project, but today the agency encompasses a wide variety of strategic and operational functions that deter, prevent, and ultimately prevail against these unique threats. DTRA enables the Department of Defense (DoD), the United States Government and international partners to counter and deter weapons of mass destruction (WMD) and emerging threats. DTRA provides cross-cutting solutions to enable the Department of Defense, the United States Government, and international partners to deter strategic attack against the United States and its allies; prevent, reduce, and counter WMD and emerging threats; and prevail against WMD-armed adversaries in crisis and conflict. DTRA’s continued effort to enhance the combat support mission also advances public health services by developing innovative technologies that protect against biological threats. For more information, visit www.dtra.mil.

Tonix Pharmaceuticals Holding Corp.^*

Tonix is a fully-integrated biopharmaceutical company focused on developing, licensing and commercializing therapeutics to treat and prevent human disease and alleviate suffering. Tonix’s development portfolio is focused on central nervous system (CNS) disorders. Tonix’s priority is to submit a New Drug Application (NDA) to the FDA in the second half of 2024 for Tonmya¹, a product candidate for which two statistically significant Phase 3 studies have been completed for the management of fibromyalgia. TNX-102 SL is also being developed to treat acute stress reaction as well as fibromyalgia-type Long COVID. Tonix’s CNS portfolio includes TNX-1300 (cocaine esterase), a biologic designed to treat cocaine intoxication that has Breakthrough Therapy designation. Tonix’s immunology development portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is a humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. Tonix also has product candidates in development in the areas of rare disease and infectious disease. Tonix Medicines, our commercial subsidiary, markets Zembrace^® SymTouch^® (sumatriptan injection) 3 mg and Tosymra^® (sumatriptan nasal spray) 10 mg for the treatment of acute migraine with or without aura in adults.

*Tonix’s product development candidates are investigational new drugs or biologics and have not been approved for any indication.

¹Tonmya™ is conditionally accepted by the U.S. Food and Drug Administration (FDA) as the tradename for TNX-102 SL for the management of fibromyalgia. Tonmya has not been approved for any indication.

Zembrace SymTouch and Tosymra are registered trademarks of Tonix Medicines. All other marks are property of their respective owners.

This press release and further information about Tonix can be found at www.tonixpharma.com.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to the failure to successfully market any of our products; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2024, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.

Investor Contact

Jessica Morris
Tonix Pharmaceuticals
investor.relations@tonixpharma.com
(862) 904-8182

Peter Vozzo
ICR Westwicke
peter.vozzo@westwicke.com
(443) 213-0505

Media Contact

Katie Dodge
LaVoieHealthScience
kdodge@lavoiehealthscience.com
(978) 360-3151

Source: Tonix Pharmaceuticals Holding Corp.

Released July 1, 2024

Release – Unicycive Therapeutics Joins Russell Microcap® Index

Posted on July 1, 2024July 1, 2024 by aweinsoff@channelchek.com

Research News and Market Data on UNCY

July 01, 2024 7:03am EDT Download as PDF

LOS ALTOS, Calif., July 01, 2024 (GLOBE NEWSWIRE) — Unicycive Therapeutics, Inc. (Nasdaq: UNCY), a clinical-stage biotechnology company developing therapies for patients with kidney disease (the “Company” or “Unicycive”), today announced it was included in the Russell Microcap Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1, 2024.

The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30^th, ranking them by total market capitalization. Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

“Inclusion in the Russell Microcap Index represents the latest milestone as a public company and validates the progress we have made over the last year,” said, Shalabh Gupta, MD, Chief Executive Officer of Unicycive. “Inclusion in the Index continues our strong momentum following our positive clinical trial results for oxylanthanum carbonate (OLC) announced last week. We believe our addition to this index will benefit our shareholders by increasing our visibility within the investment community.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Russell’s US indexes serve as the benchmark for about $10.5 trillion in assets as of the close of December 2023. Russell indexes are part of FTSE Russell, a leading global index provider.

Fiona Bassett, CEO of FTSE Russell, An LSEG Business, comments, “Russell indexes–now in their 40^th year–continue to evolve to reflect the dynamic US economy. Annual rebalancing plays a vital role in establishing accurate benchmarks, ensuring they correctly mirror their designated market segments and remain unbiased in terms of size and style.”

For more information on the Russell Microcap^® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About FTSE Russell:

FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. A comprehensive range of reliable and accurate indexes provides investors worldwide with the tools they require to measure and benchmark markets across asset classes, styles, or strategies.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.

FTSE Russell is focused on applying the highest industry standards in index design and governance, employing transparent rules-based methodology informed by independent committees of leading market participants. FTSE Russell fully embraces the IOSCO Principles, and its Statement of Compliance has received independent assurance. Index innovation is driven by client needs and customer partnerships, allowing FTSE Russell to continually enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit https://www.lseg.com/en/ftse-russell.

About Unicycive Therapeutics

Unicycive Therapeutics is a biotechnology company developing novel treatments for kidney diseases. Unicycive’s lead drug candidate, oxylanthanum carbonate (OLC), is a novel investigational phosphate binding agent being developed for the treatment of hyperphosphatemia in chronic kidney disease patients on dialysis. UNI-494 is a patent-protected new chemical entity in clinical development for the treatment of conditions related to acute kidney injury. For more information, please visit Unicycive.com and follow us on LinkedIn, X, and YouTube.

Forward-looking statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified using words such as “anticipate,” “believe,” “forecast,” “estimated” and “intend” or other similar terms or expressions that concern Unicycive’s expectations, strategy, plans or intentions. These forward-looking statements are based on Unicycive’s current expectations and actual results could differ materially. There are several factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results; our clinical trials may be suspended or discontinued due to unexpected side effects or other safety risks that could preclude approval of our product candidates; risks related to business interruptions, which could seriously harm our financial condition and increase our costs and expenses; dependence on key personnel; substantial competition; uncertainties of patent protection and litigation; dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Unicycive’s Annual Report on Form 10-K for the year ended December 31, 2023, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Unicycive specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Contact:

ir@unicycive.com
(650) 543-5470

SOURCE: Unicycive Therapeutics, Inc.

Source: Unicycive Therapeutics, Inc.

Released July 1, 2024

Release – CoreCivic Announces 2024 Second Quarter Earnings Release and Conference Call Dates

Posted on July 1, 2024July 1, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CXW

BRENTWOOD, Tenn., July 01, 2024 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2024 second quarter financial results after the market closes on Wednesday, August 7, 2024. A live broadcast of CoreCivic’s conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, August 8, 2024.

To participate via telephone and join the call live, please register in advance here https://register.vevent.com/register/BIdd7601382fc644b791a9a7cfbbe4f556. Upon registration, telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number and a unique passcode.

Participants may access the audio-only webcast of the conference call from the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. A replay of the webcast will be available for seven days.

About CoreCivic
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 one of the largest prison operators in the United States. We have been a flexible and dependable partner for government for over 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.

Contact:	Investors: Michael Grant – Managing Director, Investor Relations – (615) 263-6957
	Media: Steve Owen – Vice President, Communications – (615) 263-3107

Release – FAT Brands Announces Jordan Chirico as Executive Vice President and Head of Debt Capital Markets

Posted on July 1, 2024July 1, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on FAT

Experienced Financial Executive Joins Fast-Growing Global Franchising Company

LOS ANGELES, July 01, 2024 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. announces the hiring of Jordan Chirico as Executive Vice President and Head of Debt Capital Markets. Mr. Chirico joins FAT Brands with nearly 20 years of Wall Street experience and will be focused on the Company’s balance sheet including its $1.2 billion Whole Business Securitization portfolio, additional acquisition financings, preferred stock, and other debt related strategies.

Mr. Chirico spent the first half of his career in structured finance at Bank of America, Robert W. Baird and Credit Suisse before pivoting to the asset management side of the business, holding senior Portfolio Management roles at Robert W. Baird, Brigade Capital Management, and 3|5|2 Capital.

“We are so pleased to welcome Jordan to FAT Brands with his strong background in capital markets,” said Rob Rosen, Co-CEO of FAT Brands. “FAT Brands is uniquely positioned to continue its growth trajectory and Jordan’s expertise will be beneficial as we look to both bolster the balance sheet and be efficient in our financings to build upon our positioning as one of the largest restaurant companies in the U.S.”

For more information on FAT Brands, please visit http://www.fatbrands.com.

About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual, casual and polished casual dining restaurant concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza^®, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Native Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit http://www.fatbrands.com.

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

Townsquare Media (TSQ) – Virtual Conference Highlights

Posted on July 1, 2024July 1, 2024 by cpereira@noblefcm.com

Monday, July 01, 2024

Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.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.

Virtual conference highlights. On June 26, the company’s CEO Bill Wilson and CFO Stuart Rosenstein presented at Noble’s Virtual Consumer/TMT conference. Mr. Wilson highlighted the company’s transformation to a digital first business, unique value proposition, favorable growth outlook and sizeable return of capital to shareholders. A replay of the company’s presentation can be viewed here.

Favorable outlook. With Q2 nearly finished, Mr. Wilson highlighted the company is on track to hit Q2 guidance, experience sequential revenue growth over Q1, and expectation to hit full year revenue and adj. EBITDA guidance. Notably, we anticipate the company will gain positive momentum and experience sequential growth in the back half of the year, as high margin political revenue kicks in.

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