Cathie Wood’s leading ARK Innovation ETF is exhibiting increasing technical weakness that threatens to push shares lower. The fund, known for its disruptive growth stocks, is flashing multiple sell signals after a sharp slide from summer highs.
ARKK delivered incredible gains through much of the past two years as Wood’s pandemic picks like Zoom, Teladoc and Roku surged. But the ETF has stumbled hard since peaking in February 2021, giving back almost 75% of its value.
After showing some resiliency this year, ARKK is now facing its most ominous setup yet. The ETF hit a 52-week high in mid-July but has trended steadily lower since, carving out a series of lower highs and lower lows.
This price action forms a textbook downtrend, with each bounce failing at lower levels. ARKK just sank to its weakest point since May after rejecting its 200-day moving average as resistance.
Adding to the woes, the 50-day moving average has been bending lower in a negative slope. The ETF closed Tuesday a stark 11% below its 50-day line, a clear sell signal in technical analysis. ARKK is also nearing its 2021 low just above $35, presenting major support.
Bearish momentum is apparent across indicators. The relative strength line has plunged sharply since August, reflecting severe underperformance versus the S&P 500. The on-balance volume line is also heading decisively lower.
Plus, the Accumulation/Distribution Rating, which gauges institutional buying and selling activity, sits at a dismal D- for ARKK. The up/down volume ratio shows selling swamping buying to the tune of a 0.6 ratio over the past 50 days.
ARKK’s top components have crumbled in tandem. Major positions Tesla, Zoom, Roku, Coinbase and Block are all deeply in the red over the past month. The lone bright spot is Exact Sciences, maker of a colon cancer screening test, up over 30%.
But weak action in former stars like Tesla and Zoom is a big weight, compounding growing doubts over their long-term growth outlooks. ARKK’s 11% allocation to struggling Tesla looks increasingly problematic.
Of course, periods of underperformance are inevitable even among top growth managers. ARKK still shows a solid 21% gain in 2022 when many indexes remain negative. So this could prove just a dry spell for Wood’s strategy.
However, with the economy potentially rolling over, the prospects for unprofitable growth stocks look even more precarious. This environment may lead investors to shift focus towards more defensive small and micro caps as well as emerging growth names.
ARKK’s technically damaged chart highlights the perils of sticking with high-valuation names in a deteriorating macro climate. For now, it continues to exhibit a troubling technical breakdown as it retests the 2021 lows. Given the backdrop, its chart damage signals additional volatility is still ahead.
Cathie Wood forged a glowing reputation in 2020’s frenzied rebound but is undergoing a brutal reality check. With ARKK flashing multiple sell signals, the next leg lower could further test the resilience of Wood’s innovation approach.
MAIA is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer. Our lead program is THIO, a potential first-in-class cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.
Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
FDA Clearance For THIO-101 Has Been Received. MAIA announced that it has received clearance of its IND application, allowing the THIO-101 trial to open clinical sites in the US. While the Phase 2 THIO-101 trial has been underway in Australia and Europe since July 2022, the IND clearance was needed for starting clinical treatment sites in the US. We see this as a strong positive, since US clinical data is considered the most reliable standard for data. Since THIO-101 is a multi-national trial, this should provide support for the potential application for FDA approval.
Preliminary Results From THIO-101 Have Been Scheduled For Presentation At ESMO. The THIO-101 trial tests THIO in patients with progressive or relapsing non-small cell lung cancer (NSCLC) after being treated with a checkpoint inhibitor. Patients receive treatment with a combination of THIO and Libtayo (cemiplimab), giving two mechanisms of action against the cancer cell. The poster presentation will be presented at the European Society for Medical Oncology on October 23, 2023.
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.
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms, and systems for United States National Security related customers, allies, and commercial enterprises. Kratos is changing the way breakthrough technologies for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research, and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.kratosdefense.com.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
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Acquisition. Wednesday night, Kratos filed an S-3 disclosing the acquisition ofSierra Technical Services, Inc. (“STS”) for 866,026 shares, with an additional 979,038 shares subject to an earnout. Based on Wednesday’s $14.81 closing price, the first share tranche is valued at $12.8 million, with the earnout portion valued at an additional $14.5 million.
Award. In early August, STS was named as a “major subcontractor” for a $77.2 million total value award from the Pentagon’s Test Resources Management Center. The program is a re-start of a previous program to develop a fighter-sized stealthy target drone that can serve as a stand-in for advanced adversary combat jets and their electronic warfare capabilities in particular. Significantly, according to the award, “Upon successful completion of this prototype effort, the Government anticipates that a follow-on production effort may be awarded via either contract or transaction, without the use of competitive procedures if the participants in this transaction successfully complete the prototype project as awarded.”
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 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.
Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Market leading yields coupled with low carbon intensities. Comstock recently achieved two significant milestones within its cellulosic fuels business. These include biofuel production yields of more than 100 gallons per dry tonne of woody biomass on a gasoline gallon equivalent (GGE) basis and market-leading low carbon intensity (CI) scores of 16 or below for cellulosic ethanol and 15 for the company’s proprietary hydro-deoxygenated Bioleum oil (HBO). The CI score is measured in grams of carbon dioxide equivalent per megajoule of energy.
Differentiation provides a key competitive advantage. HBO is a proprietary drop-in bio-intermediate used in the production of sustainable aviation and renewable diesel fuels. It increases the diversity of hydro-processed, fat-based feedstock and significantly reduces carbon intensity scores from what is currently commercially achievable. For example, the carbon intensity of fossil fuels is industry-benchmarked between 80 and 95. Moreover, yields of over 100 GGE exceed the U.S. Department of Energy’s production goals of less than 75 GGE per tonne. While the higher yields are a key selling point in that they surpass existing cellulosic-derived biofuel production yields, leading biofuel refiners have indicated that lower CI scores are what significantly reduce the carbon footprint of their overall portfolios.
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.
Joe Gomes, 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.
Mining. Bit Digital had a decrease in BTC production in September, producing 130.2 BTC, a 7% decrease compared to the prior month of 133.0. The decrease was primarily driven by an increase in network difficulty and a reduction in active hash rate that occurred towards the end of the month. The active hash rate was approximately 1.19 EH/s as of September 30, 2023, as roughly 600 PH/s of miners went offline due to a power utility mandated maintenance outage from September 26, 2023, to October 6, 2023 with an additional 250 PH/s of miners going offline towards the end of the month following the conclusion of a hosting contract at one facility. The Company is in the process of relocating those miners to alternative hosting sites.
Staking. The Company had approximately 13,594 ETH (13,188 last month) actively staked in native and liquid staking protocols as of September 30, 2023, with 11,200 natively staked and 2,394 ETH deployed in liquid staking protocols. The Company has 512 ETH (16 Nodes) deposited but in queue to be activated on the Ethereum staking network, which are estimated to come online by the end of October 2023. The blended APY for the month was roughly 4.1%.
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.
The biotechnology sector has seen a flurry of activity recently, with major drugmakers looking to acquire smaller biotech firms to boost their pipelines. According to a recent Bloomberg News report, French pharmaceutical giant Sanofi is in talks to acquire Mirati Therapeutics, a clinical-stage biotech focused on developing novel cancer treatments.
While negotiations are still ongoing, this potential deal highlights the enormous value being seen in emerging biotech firms like Mirati that are pioneering cutting-edge medicines. Mirati’s lead drug candidate is a treatment for non-small cell lung cancer, one of the most common and deadly forms of cancer.
These mergers and acquisitions underscore the biotech sector’s immense growth prospects. With novel approaches to treating cancer, genetic diseases, and other unmet medical needs, biotechs have become hotbeds for innovation. And major drugmakers are increasingly looking to tap into these scientific advancements through strategic deals.
For investors, the busy M&A environment highlights the potential windfalls in identifying and investing in promising biotech firms early on. While risky, buying shares in companies with disruptive technologies before they are on Big Pharma’s radar can result in exponential returns.
With science rapidly advancing, the coming decades are likely to see huge leaps in biomedical innovations. The recent wave of pharma-biotech mergers shows large drugmakers recognize the future potential of biotech. Savvy investors who spot these opportunities stand to profit as more biotech firms are snatched up or grow into full-fledged pharmaceutical leaders themselves.
Biotechnology represents an exciting new frontier in drug development. Unlike traditional pharmaceuticals derived from chemical compounds, biotech drugs utilize living organisms and biological molecules to treat disease.
Some key innovations driving growth in biotech include:
Gene therapy – Altering genes to treat genetic conditions. Gene editing tools like CRISPR have made gene therapy more precise and scalable.
Cell therapy – Using modified human cells as treatments, such as CAR T-cell therapy for blood cancers.
RNA interference – Silencing specific genes by blocking mRNA translation through RNAi mechanisms.
Monoclonal antibodies – Targeted antibodies cloned from immune cells are blockbuster therapies for cancer, autoimmunity, and more.
Vaccines – Novel vaccine platforms like mRNA vaccines are enabling rapid development of new vaccines.
These advanced technologies promise to revolutionize medicine and usher in an era of personalized, precision medicine. The possibilities span from regenerative medicine to reversing aging. For investors, biotech represents enormous growth potential.
Biotech Deal Frenzy
Given the vast promise of biotech, it is no surprise that pharmaceutical giants have been scooping up biotech firms at a fierce clip. Small promising biotechs are prime targets for acquisition.
Big Pharma companies like Sanofi, Merck, and Bristol-Myers need to refill drying pipelines. Revenue-generating biotech drugs can also help offset losses from older medications losing patent protection.
For the acquiring company, buying a biotech with an innovative drug candidate eliminates the risks and costs of developing a new medicine from scratch. And the more established resources and expertise of a pharma giant can help push novel therapies through late-stage trials and regulatory approvals.
Meanwhile, being acquired provides biotech startups with an influx of funds and resources to continue advancing their pipeline. It also offers a lucrative exit for early investors.
As the healthcare needs of the global population increase, larger pharmaceutical companies will likely continue acquiring emerging biotechs to remain competitive. This M&A frenzy shows no signs of slowing down.
Investment Opportunities
For investors, the busy biotech M&A environment provides exciting opportunities to profit. Here are some tips:
Seek out early-stage biotechs with promising technologies before they become acquisition targets. The ideal scenario is investing pre-IPO.
Focus on firms with advanced clinical pipelines addressing urgent unmet needs like cancer, rare diseases, neurodegeneration, etc.
Evaluate the strength of a biotech’s intellectual property and licensing agreements for its core technology.
Assess the management team’s experience in drug development and commercialization.
Consider biotechs focused on next-gen platforms like gene editing, cell therapy, RNAi, etc which are garnering lots of interest.
Be prepared to hold for longer time horizons and have a higher risk tolerance. Clinical trials have high failure rates.
For investors comfortable with risk, the payoffs for spotting the next potential biotech star could be immense as entire new markets for cutting-edge medicines continue to emerge.
The September jobs report revealed the U.S. economy added 336,000 jobs last month, nearly double expectations. The data highlights the resilience of the labor market even as the Federal Reserve aggressively raises interest rates to cool demand.
Economists surveyed by Bloomberg had forecast 170,000 job additions for September. The actual gain of 336,000 jobs suggests the labor market remains strong despite broader economic headwinds.
The unemployment rate held steady at 3.8%, unchanged from August and still near historic lows. This shows employers continue hiring even amid rising recession concerns.
Wage growth moderated but still increased 0.3% month-over-month and 5.0% year-over-year. Slowing wage gains may reflect reduced leverage for workers as economic uncertainty increases.
The report reinforces the tight labor market conditions the Fed has been hoping to loosen with its restrictive policy. Rate hikes aim to reduce open jobs and slow wage growth to contain inflationary pressures.
Yet jobs growth keeps exceeding forecasts, defying expectations of a downshift. The Fed wants to see clear cooling before it eases up on rate hikes. This report suggests its work is far from done.
The September strength was broad-based across industries. Leisure and hospitality added 96,000 jobs, largely from bars and restaurants staffing back up. Government employment rose 73,000 while healthcare added 41,000 jobs.
Upward revisions to July and August payrolls also paint a robust picture. An additional 119,000 jobs were created in those months combined versus initial estimates.
Markets are now pricing in a reduced chance of another major Fed rate hike in November following the jobs data. However, resilient labor demand will keep pressure on the central bank to maintain its aggressive tightening campaign.
While the Fed has raised rates five times this year, the benchmark rate likely needs to go higher to materially impact hiring and wage trajectories. The latest jobs figures support this view.
Ongoing job market tightness suggests inflation could become entrenched at elevated levels without further policy action. Businesses continue competing for limited workers, fueling wage and price increases.
The strength also hints at economic momentum still left despite bearish recession calls. Job security remains solid for many Americans even as growth slows.
Of course, the labor market is not immune to broader strains. If consumer and business activity keep moderating, job cuts could still materialize faster than expected.
For now, the September report shows employers shaking off gloomier outlooks and still urgently working to add staff and retain workers. This resiliency poses a dilemma for the Fed as it charts the course of rate hikes ahead.
The unexpectedly strong September jobs data highlights the difficult balancing act the Fed faces curbing inflation without sparking undue economic damage. For policymakers, the report likely solidifies additional rate hikes are still needed for a soft landing.
Apple CEO Tim Cook raised eyebrows this week after disclosing the sale of over $88 million worth of company shares, his largest stock sale in over two years. While insider transactions are common, the considerable size and timing of Cook’s liquidation stokes fears amid a bearish environment for tech stocks.
Cook offloaded 511,000 Apple shares at prices between $171-173 per share according to regulatory filings. The sale equates to about 15% of his total vesting this year of over 3.4 million shares. However, it still reduces his exposure as he now holds around 3.28 million shares remaining.
The sale comes at a precarious time for Apple and the broader tech sector. After rallying strongly for most of 2022, the stock has declined nearly 20% from highs since peaking in late July. Concerns over slowing iPhone sales due to macro headwinds have plagued Apple lately.
With the economy potentially heading into recession and inflation hurting consumer budgets, investors have grown nervous over Apple’s prospects. The company also faces supply chain constraints impacting production capacity.
Cook choosing this period to materially reduce his Apple holdings could signal diminished confidence in near-term performance. Even scheduled sales through preset plans evoke questions on timing and motivation when executed amid market turbulence.
While Cook still maintains substantial skin in the game, the optics of a CEO offloading large share blocks matter. Apple also reports quarterly earnings at the end of this month, adding significance to the sale’s proximity.
Any hint of caution from Cook on the conference call risks further rattling shareholders. The considerable size of his stock sale suggests a more defensive posture than his typical modest liquidations.
The move follows similar trends of tech leaders diversifying holdings away from their own companies’ stocks. Meta’s Mark Zuckerberg sold off over $4 billion in shares in recent months. Amazon’s Jeff Bezos and Google’s founders have executed multi-billion dollar sales as well.
With valuations under pressure after a massive bull run, insiders seem intent on locking in gains. But it also betrays their lack of confidence in stock upside ahead. This compounds fears of slowing growth and execution challenges in the sector.
Cook’s sale in particular cuts deep given his influential leadership and long tenure at Apple. As a revered figure, actions speak loudly, and his uncharacteristic liquidation risks sending the wrong signal.
It may suggest that even entrenched tech stalwarts see limits to future gains amid rising macro uncertainty. The instinct to diversify out of FAANG names reinforces the sense that a pivot is underway.
For Apple specifically, Cook’s historic payday casts doubt ahead of the crucial holiday season. It may indicate softer demand for new iPhone models and other products as consumers tighten budgets.
With the stock down nearly 40% from highs, any wavering commitment from icons like Cook further spooks investors. For now, he retains substantial direct ownership, but the considerable cash-out still feels ill-timed given the challenges.
Cook’s sale exemplifies the broader pivot away from high-flying tech as economic conditions worsen. But his influential role means the signal cuts even deeper. Anxious Apple shareholders now await the next earnings results.
STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, said today it will release its third-quarter financial results on Thursday, November 2, 2023, at approximately 4:15 p.m., U.S. Eastern Time.
The firm will host a conference call with investors and industry analysts at 9 a.m., U.S. Eastern Time, the following day, Friday, November 3. Dial-in details are as follows:
The dial-in number for U.S. participants is +1 (888) 330-2057.
International participants should call +1 (646) 960-0203.
The security code to access the call is 1482106.
Participants are requested to dial in at least five minutes before the scheduled start time.
A recording of the conference call will be accessible on ISG’s website (www.isg-one.com) for approximately four weeks following the call.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 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 1,600 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 more information, visit www.isg-one.com.
ATLANTA, GA, October 5, 2023 – GeoVax Labs, Inc. (Nasdaq: GOVX), a biotechnology company developing immunotherapies and vaccines against cancers and infectious diseases, today announced that the U.S. Patent and Trademark Office has issued a Notice of Allowance for Patent Application No. 17/409,574 titled “Multivalent HIV Vaccine Boost Compositions and Methods of Use.” The allowed claims generally cover a priming vaccination with a DNA vector encoding multiple HIV antigens in virus-like particles (VLPs), followed by a boost vaccination with GeoVax’s vector platform for expressing HIV-1 antigens in VLPs utilizing an MVA viral vector.
David Dodd, GeoVax President and CEO, commented, “Our development priorities continue to be our next-generation COVID-19 vaccine, currently in Phase 2 clinical trials, and our cancer immunotherapy program, with Gedeptin® as our lead product in a Phase 1/2 clinical trial for advanced head and neck cancer. While we are focusing on these two products in the near-term, our long-term vision includes developing vaccines against other global public health threats such as HIV. Although not currently under active development, our HIV program forms an important part of the dataset underpinning all of our MVA-based development programs. The patent protection associated with the use of this vaccine is an important part of this product platform.”
Mr. Dodd continued, “Earlier this year, data were presented from a clinical study of a combinational HIV therapy that included GeoVax’s HIV vaccine candidate, MVA62B. The goal of the trial was to reduce or eliminate viral replication in the absence of antiviral medications in HIV-positive individuals (a “functional cure”). The data indicated very high levels of immunogenicity of the treatment, particularly the induction of T cell immunity, even though HIV infection compromises the immune system. We are pleased that GeoVax’s MVA-vectored HIV vaccine was selected to be a part of the experimental combination therapy and contributed to the positive findings. MVA62B was also previously tested in multiple clinical trials as a component of vaccine regimens designed to induce immune responses that prevent HIV infection. The team here at GeoVax is committed to help end the HIV epidemic worldwide and recognizes that the consistent results of MVA62B reflected in clinical trials to date may offer promise towards achieving this goal. We remain committed to supporting corporate and/or academic collaborations or partnering of this potentially critically important vaccine.”
About GeoVax
GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel therapies and vaccines for solid tumor cancers and many of the world’s most threatening infectious diseases. The company’s lead program in oncology is a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, presently in a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax’s lead infectious disease candidate is GEO-CM04S1, a next-generation COVID-19 vaccine targeting high-risk immunocompromised patient populations. Currently in three Phase 2 clinical trials, GEO-CM04S1 is being evaluated as a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, and as a booster vaccine in patients with chronic lymphocytic leukemia (CLL). In addition, GEO-CM04S1 is in a Phase 2 clinical trial evaluating the vaccine as a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. GeoVax has a leadership team who have driven significant value creation across multiple life science companies over the past several decades. For more information, 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.
LOS ANGELES, Oct. 05, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Twin Peaks, Fazoli’s, Smokey Bones and 11 other restaurant concepts, announced today that its Board of Directors has declared the Company’s fiscal 2023 fourth quarter cash dividend of $0.14 per share on each outstanding share of Class A common stock and Class B common stock. The dividend is payable on December 1, 2023 to holders of record of Class A common stock and Class B common stock as of the close of business on November 15, 2023.
The declaration and payment of future dividends, as well as the amounts thereof, are subject to the discretion of the Company’s Board of Directors. The amount and size of any future dividends will depend upon the Company’s future results of operations, financial condition, capital levels, cash requirements and other factors. There can be no assurance that the Company will declare and pay dividends in future periods.
About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands Inc. (NASDAQ: FAT) (the Company) is a leading global franchising company that strategically acquires, markets and develops quick service, fast casual and casual dining restaurant concepts around the world. The Company currently owns eighteen restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Smokey Bones, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, Ponderosa and Bonanza Steakhouses and franchises and owns over 2,300 units worldwide. For more information, please visit www.fatbrands.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.
Conference Call to be held Thursday, October 26 at 8:00 a.m. Central Time
HOUSTON, Oct. 05, 2023 (GLOBE NEWSWIRE) — Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today announced that it will issue its financial results for the third quarter ended September 30, 2023, on Wednesday, October 25, 2023, after the close of the stock market.
A conference call and audio webcast with analysts and investors will be held the next day, October 26, at 8:00 a.m. Central Time to discuss the results and answer questions.
Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Hawaii, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including place and finish, site prep, layout, forming, and rebar placement for large commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas (oriongroupholdingsinc.com)
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Amended PIPE Funding Agreement. The company announced that it is amending its PIPE agreement, which was established when it went public through a SPAC. The amendment allows several private investors to purchase roughly 3.4 million Series A Convertible Preferred shares from the original PIPE investor.
PIPE agreement. In accordance with the agreement, 4.3 million Convertible Preferred shares and 0.7 million common shares and $50 million cash ($10 pre share) were held in trust. After going public, the company received cash per share from the trust at the volume weighted average price (VWAP) of the shares (rather than $10/share). The shares would settle in increments over several reference periods. The PIPE investor would receive a cash redemption for the difference between $10 and the VWAP of the shares for a given reference period. For example, if the VWAP was $3 for a reference period, the company would receive $3 per share and the trust would return $7 per share to the PIPE investor.
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.
