Uncategorized Archives - Page 2 of 31

Release – Unicycive Therapeutics Announces FDA Acceptance of Oxylanthanum Carbonate (OLC) New Drug Application (NDA) Resubmission

Posted on January 29, 2026January 29, 2026 by aweinsoff@channelchek.com

January 29, 2026 7:05am EST Download as PDF

DA assigns Prescription Drug User Fee Act (PDUFA) target date of June 27, 2026
Ended 2025 with unaudited cash position of $41.3M with expected runway into 2027

LOS ALTOS, Calif., Jan. 29, 2026 (GLOBE NEWSWIRE) — Unicycive Therapeutics, Inc. (“Unicycive” or the “Company”) (Nasdaq: UNCY), a clinical-stage biotechnology company developing therapies for patients with kidney disease, today announced that the U.S. Food and Drug Administration (FDA) has accepted the resubmission of its New Drug Application (NDA) for oxylanthanum carbonate (OLC), the Company’s investigational oral phosphate binder for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis. The Agency has deemed the OLC resubmission to be a Class II complete response which has a six-month review period from the date of resubmission and set a Prescription Drug User Fee Act (PDUFA) target action date of June 27, 2026.

“We are pleased that the agency has promptly accepted the resubmission of our NDA for OLC,” said Shalabh Gupta, M.D., Chief Executive Officer of Unicycive. “We are advancing our commercial preparation activities in anticipation of a potential launch of OLC later this year, to help provide an important treatment option to patients with chronic kidney disease (CKD) on dialysis who continue to struggle with hyperphosphatemia.”

The NDA is supported by data from three clinical studies (a Phase 1 study in healthy volunteers, a bioequivalence study in healthy volunteers and a tolerability study of OLC in CKD patients on dialysis), multiple preclinical studies as well as chemistry, manufacturing and controls (CMC) data. The FDA did not raise any concerns regarding OLC’s preclinical, clinical, or safety data included in the original NDA submission.

The Company ended 2025 with an unaudited position of $41.3 million in cash, cash equivalents, and short-term investments, which permits continued advancement of OLC commercial launch activities and a cash runway into 2027.

About Oxylanthanum Carbonate (OLC)
OLC is an investigational oral phosphate binder that leverages proprietary nanoparticle technology to deliver high phosphate binding potency, reducing the number and size of pills that patients must take to treat hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis. Its potential best-in-class profile may have meaningful patient adherence benefits over currently available treatment options as it requires a lower pill burden.

Unicycive is seeking FDA approval of OLC via the 505(b)(2) regulatory pathway. OLC is protected by a strong global patent portfolio including issued patents on composition of matter with exclusivity until 2031, and with the potential for patent term extension until 2035.

About Hyperphosphatemia
Hyperphosphatemia is a serious medical condition that occurs in nearly all patients with End Stage Renal Disease (ESRD). Annually there are over 450,000 individuals in the U.S. that require medication to control their phosphate levels.¹ Uncontrolled hyperphosphatemia is strongly associated with increased death and hospitalization for CKD patients on dialysis. Treatment of hyperphosphatemia is aimed at lowering serum phosphate levels via two means: (1) restricting dietary phosphorus intake; and (2) using, on a daily basis, and with each meal, oral phosphate binding drugs that facilitate fecal elimination of dietary phosphate rather than its absorption from the gastrointestinal tract into the bloodstream.

¹Flythe JE. Dialysis-Past, Present, and Future: A Kidney360 Perspectives Series. Kidney360. 2023 May 1;4(5):567-568. doi: 10.34067/KID.0000000000000145.

About Unicycive Therapeutics
Unicycive Therapeutics is a biotechnology company developing novel treatments for kidney diseases. Unicycive’s lead investigational treatment is oxylanthanum carbonate, a novel phosphate binding agent for the treatment of hyperphosphatemia in patients with chronic kidney disease who are on dialysis. Unicycive’s second investigational treatment UNI-494 is intended for the treatment of conditions related to acute kidney injury. It has been granted orphan drug designation (ODD) by the FDA for the prevention of Delayed Graft Function (DGF) in kidney transplant patients and has completed a Phase 1 dose-ranging safety study in healthy volunteers. For more information about Unicycive, visit Unicycive.com and follow us on LinkedIn and X.

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; our need to raise substantial additional capital in the future to fund our continuing operations and the development and commercialization of our current product candidates and future product candidates; dependence on key personnel; substantial competition; uncertainties of patent protection and litigation; dependence upon third parties; risks related to delays in obtaining or failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; and our failure, or the failure of our third-party manufacturers, or their subcontractors, to comply with cGMPs or other applicable regulations, which could result in sanctions being imposed on us or the manufacturers, including fines, injunctions, civil penalties, delays, suspension or withdrawal of approvals, license revocation, seizures or recalls of product candidates, operating restrictions and criminal prosecutions, any of which could adversely affect supplies of our product candidates and harm our business and results of operations. 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, 2024, 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 Contacts:

Kevin Gardner
LifeSci Advisors
kgardner@lifesciadvisors.com

Media Contact:

Layne Litsinger
Real Chemistry
llitsinger@realchemistry.com

SOURCE: Unicycive Therapeutics, Inc.

Source: Unicycive Therapeutics, Inc.

Released January 29, 2026

Conduent (CNDT) – New CEO Appointment

Posted on January 28, 2026January 28, 2026 by slightbourne@noblecapitalmarkets.com

Wednesday, January 28, 2026

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

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

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

Leadership transition at a natural inflection point. Conduent announced that Harsha V. Agadi has been appointed Chief Executive Officer, succeeding Cliff Skelton, with Margarita Paláu-Hernández named independent Chair of the Board. The change follows a multi-year period of portfolio rationalization, asset divestitures, and balance sheet repair. In our view, the move marks a clear emphasis on operational execution.

A shift toward speed and accountability. We view Agadi’s appointment as a logical next step for the company. His background includes senior operating and leadership roles across large, complex organizations such as Little Caesars, Church’s Chicken, Friendly’s, and Crawford & Company. We expect an early focus on leadership depth, decision velocity, and operational accountability, with an emphasis on accelerating the company’s return to revenue and cash flow growth. In our view, this signals a move from stabilization to performance.

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.

Rare Earth Stocks Surge as U.S. Government Takes Equity Stake in Strategic Miner

Posted on January 27, 2026January 27, 2026 by slightbourne@noblecapitalmarkets.com

Rare earth stocks rallied sharply on Monday after the Trump administration announced a major equity investment in USA Rare Earth (NASDAQ: USAR), underscoring Washington’s escalating push to secure critical mineral supply chains and reduce reliance on China.

Shares of USA Rare Earth jumped as much as 12% following news that the company will receive $1.6 billion from the U.S. Department of Commerce in exchange for an equity stake. The deal also includes collaboration with the Department of Energy on a $1.3 billion loan package and an additional $277 million in federal funding. Industry peers such as MP Materials, Energy Fuels, and Trilogy Metals also saw early gains, reflecting renewed investor enthusiasm across the sector.

Under the agreement, USA Rare Earth will issue 16.1 million shares of common stock and approximately 17.6 million warrants to the Department of Commerce. The company simultaneously announced a $1.5 billion capital raise, significantly strengthening its balance sheet and accelerating development timelines.

The funding is expected to fast-track USA Rare Earth’s vertically integrated strategy, spanning mining, processing, and magnet manufacturing. Key assets include the company’s magnet plant in Stillwater, Oklahoma, and its Round Top rare earth deposit in West Texas, which is slated to begin commercial production in 2028. Once operational, these facilities could play a crucial role in supplying domestic demand for permanent magnets used in defense systems, electric vehicles, data centers, and advanced manufacturing.

This move fits squarely within a broader government strategy to onshore critical mineral production. China currently dominates global rare earth mining and processing, a strategic vulnerability the U.S. has been actively working to address. In 2025, the Pentagon became MP Materials’ largest shareholder after purchasing $400 million worth of stock. Similar government-backed deals were announced last year with Lithium Americas and Trilogy Metals.

Rare earth elements sit at the center of some of the fastest-growing and most strategically important industries, including artificial intelligence, defense technology, renewable energy, and advanced electronics. As AI data centers proliferate and defense spending increases, demand for these materials is expected to rise sharply over the coming decade.

Strategists argue that direct public-sector involvement materially changes the risk profile for rare earth miners. According to Sprott Asset Management, government participation enhances revenue visibility, mitigates project execution risk, and increases the likelihood that new capacity actually comes online. For investors, this reduces dependence on speculative capital markets and supports higher long-term valuations.

The geopolitical dimension is also intensifying. President Trump recently indicated that a future framework deal with NATO over Greenland could include access to rare earth mineral rights, signaling that resource security is becoming a core component of U.S. foreign and defense policy.

While rare earth stocks remain volatile and capital intensive, the growing alignment between government priorities and private miners provides a powerful tailwind. For small-cap investors, the sector is increasingly less about speculation and more about strategic relevance. As Washington continues to write checks—and take equity stakes—the message is clear: rare earths are now a national priority.

Power Metallic Mines Inc. (PNPNF) – From Legacy Nickel to District-Scale Polymetallic System

Posted on January 21, 2026January 21, 2026 by slightbourne@noblecapitalmarkets.com

Wednesday, January 21, 2026

Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)—a high–grade Copper–PGE, Nickel, gold and silver system—toward Canada’s next polymetallic mine. On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins. Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs. Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025. It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of Saudi Arabia’s JabalSaid Belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper gold and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit.

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.

Initiating Coverage with an Outperform rating. Power Metallic Mines Inc. (OTCQB: PNPNF, TSXV: PNPN) is a Québec-based mineral exploration company advancing a high-grade polymetallic discovery that has evolved into a district-scale opportunity. Recent discoveries at the Nisk Project have shifted the investment thesis from a legacy nickel-sulphide asset to a high-grade copper-platinum group elements (PGE), nickel, gold, and silver system with emerging scale and continuity. Target metals, including copper, nickel, cobalt, platinum, and palladium, are integral to electrification, industrial manufacturing, and critical mineral markets. Our price target is US$2.65 per share or C$3.65 per share.

Lion Zone Discovery. The investment case is anchored by the Lion Zone, a high-grade, copper-dominant orthomagmatic polymetallic discovery that represents the core value driver within the broader Nisk land package. Drilling at Lion has returned exceptional grades, including 11.6 meters grading 8.3% copper, 9.6 g/t palladium, and 2.6 g/t platinum, materially enhancing the project’s value profile beyond nickel alone. Follow-up drilling at the nearby Tiger Zone has confirmed the presence of similar mineralization along trend, supporting the interpretation that Lion-style mineralization is repeatable rather than isolated.

Get the Full Report

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

NN (NNBR) – Adds a New Director

Posted on January 21, 2026January 21, 2026 by slightbourne@noblecapitalmarkets.com

Wednesday, January 21, 2026

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.

A Board Addition. NN added T ed White to its Board of Directors, effective immediately. Mr. White is co-founder of Legion Partners Asset Management, one of NN’s largest shareholders, owning approximately 9.55% of the outstanding common as of the date of the agreement, as well as economic exposure to another 5.99% of the Company’s shares. Mr. White will join the Board’s Strategic Committee, which was formed to evaluate a broad range of strategic, financing, and other alternatives to enhance shareholder value.

Cooperation Agreement. In connection with this appointment, the Company entered into a cooperation agreement with Legion Partners. The Legion cooperation agreement contains a customary standstill, voting commitment, and related provisions. Legion’s ownership is capped at 19.9% of the outstanding NNBR shares.

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).

Trump Suggests Using Trade Penalties to Pressure Support for Greenland Plan

Posted on January 16, 2026January 16, 2026 by slightbourne@noblecapitalmarkets.com

President Donald Trump said Friday that he may impose new tariffs on foreign countries as part of an aggressive effort to pressure allies into supporting U.S. acquisition of Greenland, once again turning to trade penalties as a geopolitical bargaining tool.

Speaking at the White House during a health care–related event, Trump framed Greenland as a national security imperative and suggested tariffs could be used against countries that resist his ambitions. “We need Greenland for national security,” Trump said. “So I may do that. I may put a tariff on countries if they don’t go along with Greenland.”

The comments mark a significant escalation in Trump’s long-running interest in acquiring the Arctic territory, which is an autonomous region of Denmark. While the U.S. already maintains a military base on the island, Trump has increasingly argued that outright ownership is necessary to counter growing influence from China and Russia in the Arctic.

The White House did not immediately clarify which countries could be targeted by the proposed tariffs or what form they might take. However, Trump’s remarks signal that trade policy may once again be deployed as leverage in diplomatic disputes, even those involving close U.S. allies.

Trump’s tariff threat comes amid mounting legal uncertainty surrounding his broader trade agenda. The president has dramatically expanded the use of tariffs since returning to office, pushing the average U.S. tariff rate to an estimated 17%. Many of these levies were imposed under the International Emergency Economic Powers Act (IEEPA), a move that has been repeatedly challenged in court.

Multiple lower courts have ruled that Trump exceeded his authority under IEEPA, and the issue is now before the Supreme Court. A ruling from the high court could come soon and may determine whether the administration can continue imposing wide-ranging tariffs without congressional approval. Trump has warned that his economic agenda would be severely undermined if the court rules against him.

The Greenland comments also follow Trump’s recent use of tariff threats to pressure foreign governments on pharmaceutical pricing. The president has argued that U.S. drug prices should be aligned with lower prices paid overseas and said he warned foreign leaders to raise their prices or face steep tariffs on all exports to the United States.

“I’ve done it on drugs,” Trump said Friday. “I may do it for Greenland too.”

Despite Trump’s rhetoric, both Greenland and Denmark have repeatedly rejected the idea of a sale or transfer of sovereignty. Following meetings in Washington this week with Vice President JD Vance and Secretary of State Marco Rubio, a delegation from Greenland and Denmark said they maintain a “fundamental disagreement” with the president’s position.

Trump has also previously suggested that the U.S. is weighing multiple options to secure Greenland, including economic pressure and, in extreme rhetoric, military considerations. Those statements have alarmed European allies and raised concerns about the long-term implications for NATO unity.

As the Supreme Court weighs the legality of Trump’s tariff powers and global trade partners respond to mounting uncertainty, the president’s Greenland push underscores how central tariffs have become to his foreign policy strategy. Whether the tactic yields concessions—or further strains alliances—may soon be tested.

Release – Comstock Metals Expands Recycling Network – Launches End-of-Life Solar Facility in Ohio

Posted on January 15, 2026January 15, 2026 by aweinsoff@channelchek.com

Research News and Market Data on LODE

VIRGINIA CITY, NEVADA, January 15, 2026 — Comstock Inc. (NYSE: LODE) (“Comstock” or the “Company”) and its subsidiary, Comstock Metals LLC (“Comstock Metals”), a leader in the responsible recycling of end-of-life solar panels and the only certified, zero-landfill solar recycling solution in North America, today announced that it has secured an additional site for storage that is expandable into an industry-scale recycling and processing facility.

This Ohio location strengthens Comstock Metals’ growing national recycling network and is strategically positioned to serve customers throughout Ohio and the broader Midwest—one of the larger and centrally located solar markets in the country. The site will function as a centralized hub for the collection, preparation, storage, and aggregation of decommissioned photovoltaic (PV) solar panels that will ultimately expand into processing as the market grows.

As solar deployment continues to expand across Ohio and neighboring states, the demand for compliant, environmentally responsible end-of-life solutions is accelerating. The central Ohio facility is designed to directly support solar manufacturers, developers, utilities, engineering and construction firms (EPCs), installers, decommissioners and asset owners by providing a local, reliable solution for managing retired solar panels, where valuable materials, including aluminum, silver, copper, gallium, and other metals are recovered and repurposed.

“Establishing a facility in central Ohio allows us to directly support the Midwest region’s growing end-of-life panel disposal needs while providing a logistically-efficient solution that keeps costs low for our customers,” said Dr. Fortunato Villamagna, President of Comstock Metals. “Our mission is to close the loop on solar energy by ensuring panels at the end of their useful life are managed responsibly and their critical materials are fully repurposed.”

By enabling timely, efficient, and compliant decommissioning, transport, and recycling, Comstock’s zero-landfill solution reduces landfill waste, conserves natural resources and supports the industry’s long-term sustainability. The Company is also finalizing the permit application and subsequent submission plans for its second, integrated, industry-scale Nevada location, with final selection of a location to take place later this year.

“As the volume of end-of-life solar panels expands across the country and grows into the tens and hundreds of millions, our ability to scale responsibly and efficiently across the country, delivers real sustainability—and peace of mind—to our customers and partners,” said Corrado De Gasperis, Executive Chairman and CEO of Comstock. “Our team is setting the standard for solar panel recycling across an expanding, fully integrated national network.”

About Comstock Inc.

Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

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

Contacts

For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222
ir@comstockinc.com

For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573
media@comstockinc.com

Forward-Looking Statements

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

Taiwan’s $500 Billion Chip Deal: A Game-Changer for Small and Mid-Cap Suppliers

Posted on January 15, 2026January 15, 2026 by slightbourne@noblecapitalmarkets.com

The semiconductor industry just witnessed what could be its most significant announcement in decades. Commerce Secretary Howard Lutnick revealed Thursday that Taiwan has committed to a staggering $500 billion investment in U.S. semiconductor manufacturing—$250 billion from Taiwanese companies and another $250 billion from the island’s government. For investors focused on small and mid-cap stocks, this massive capital deployment represents a potential goldmine of opportunities that extends far beyond the headline-grabbing chip manufacturers.

While giants like TSMC will dominate news coverage, the real story for small-cap investors lies in the extensive supply chain required to build and operate semiconductor fabrication facilities. Each new fab requires specialized equipment manufacturers, chemical suppliers, industrial gas producers, precision tooling companies, and advanced materials providers—many of which operate in the small to mid-cap range. Companies producing ultra-pure chemicals, photoresist materials, silicon wafers, and specialty gases could see order books expand dramatically. The construction phase alone will create demand for specialized contractors, clean room equipment manufacturers, and industrial automation providers that may currently fly under Wall Street’s radar.

The scale of this investment means new facilities will require substantial infrastructure development. Regional utilities, water treatment specialists, and industrial real estate developers in semiconductor-friendly states like Arizona, Texas, and Ohio stand to benefit significantly. Small-cap engineering firms with expertise in fab construction and environmental systems could see their prospects transform overnight. The ongoing operational needs of these facilities create sustained demand for maintenance services, logistics providers, and specialized workforce training companies—sectors where nimble mid-market players often excel.

Semiconductor manufacturing requires thousands of specialized components and systems. While industry leaders like Applied Materials and Lam Research will capture major contracts, numerous smaller suppliers provide niche equipment for testing, metrology, wafer handling, and process control. These companies often trade at more attractive valuations than their large-cap counterparts while offering leveraged exposure to industry growth. The hiring demands from a $500 billion investment will be extraordinary as well. Technical staffing agencies, specialized recruiters, and workforce development companies could experience substantial growth. Communities hosting these facilities will need expanded housing, services, and infrastructure—benefiting regional banks, homebuilders, and service providers in those markets.

Savvy small-cap investors should begin identifying companies with existing relationships in the semiconductor supply chain, particularly those with capacity to scale rapidly. Look for firms with proprietary technologies, high switching costs, and strong balance sheets capable of supporting growth. However, investors should remain mindful of execution risks. Not all suppliers will secure contracts, and the timeline for this investment will likely span years rather than quarters. Patience and selectivity will be essential.

Taiwan’s historic commitment to U.S. semiconductor manufacturing represents more than geopolitical realignment—it’s a catalyst that could reshape the small and mid-cap investment landscape for the next decade. While mega-cap chip stocks may grab headlines, the most compelling risk-reward opportunities often emerge further down the supply chain, where smaller companies can leverage this unprecedented capital influx into outsized growth. For investors willing to dig deeper, the $500 billion question isn’t just about chips—it’s about identifying tomorrow’s winners today.

MustGrow Biologics Corp. (MGROF) – A Raise

Posted on January 12, 2026January 12, 2026 by slightbourne@noblecapitalmarkets.com

Monday, January 12, 2026

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.

Raise. MustGrow has announced a raise of up to $2 million in a non-brokered private placement of up to 4,000,000 units of the Company at a price of $0.50 per Unit. Each unit will consist of (i) one common share of the Company and (ii) one common share purchase warrant. Each whole warrant will be exercisable for a period of 60 months from the closing date and will entitle the holder to purchase one additional share at an exercise price of $0.70 per warrant share. The closing of the Offering is expected to take place on January 22, 2026, but may take place in one or more tranches, provided that the final tranche closing will occur no later than February 22, 2026.

Use of Proceeds. The Company intends to use the net proceeds raised from the LIFE Offering for inventory production for its mustard-derived organic biofertility product TerraSante, inventory for agricultural products to sell via its Canadian distribution platform NexusBioAg, and working capital and general corporate purposes. Recall, MustGrow ran out of TerraSante product in the second and third quarters last year as demand exceeded management’s initial forecasts.

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).

Resources Connection (RGP) – Pricing Discipline Holds as Volume Pressure Persists

Posted on January 9, 2026January 9, 2026 by slightbourne@noblecapitalmarkets.com

Friday, January 09, 2026

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.

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

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

Continued Revenue Pressure. RGP reported second quarter revenue of $117.7 million, down 19% year-over-year. On a same-day constant currency basis, revenue declined 18.4%, driven almost entirely by lower billable hours across the core On-Demand and Consulting segments. Importantly, the weakness remains volume-driven rather than price-driven, as average bill rates were largely stable and improved in several key geographies.

Pricing Discipline, Volume Weak. The Company continues to make progress with its value-based pricing initiatives. U.S. bill rates increased 2.5% year over year, Consulting bill rates rose 6.6%, and On-Demand bill rates increased 2.6%. However, these gains were more than offset by sharp declines in billable hours, particularly in Consulting (-33.8%) and On-Demand (-21.5%). Management specifically highlighted reduced demand for traditional finance roles as clients adopt automation and AI, underscoring that part of the On-Demand softness may be structural rather than purely cyclical.

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).

AZZ (AZZ) – Third Quarter FY26 Review and Outlook

Posted on January 9, 2026January 9, 2026 by slightbourne@noblecapitalmarkets.com

Friday, January 09, 2026

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 third-quarter financial results. AZZ reported adjusted net income of $46.0 million, or $1.52 per share, compared to $41.9 million, or $1.39 per share, during the prior year period. We had forecast adjusted net income of $44.9 million, or $1.48 per share. Compared to the third quarter of FY 2025, total sales increased 5.5% to $425.7 million. We had projected sales of $424.6 million. Gross margin of $101.9 million was modestly below our estimate of $103.2 million. Operating income of $69.5 million exceeded our estimate of $64.9 million, due to lower selling, general, and administrative expenses. Adjusted EBITDA increased modestly to $91.2 million compared to $90.7 million during the prior year period and our estimate of $93.3 million.

Updating estimates. With one quarter remaining, we have lowered our FY 2026 EBITDA estimate to $368.0 million from $369.2 million, and increased our EPS estimate to $6.03 from $5.98. We have increased our 2027 EBITDA and EPS estimates to $388.0 million and $6.60, respectively, from $387.4 million and $6.45. Our longer-term estimates through FY 2031 reflect multi-year growth and are summarized at the end of this report. Our estimates do not reflect the impact of acquisitions 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).

Trump’s Defense Industry Whipsaw: Criticism Meets Massive Budget Boost

Posted on January 9, 2026January 9, 2026 by slightbourne@noblecapitalmarkets.com

President Donald Trump delivered a one-two punch to defense sector investors this week, first lambasting major contractors for prioritizing shareholder returns over production capacity, then immediately following up with a proposed defense budget that would surge 66% to $1.5 trillion in 2027. The resulting market volatility showcased the unique risks and opportunities of investing in an industry where a single customer—the U.S. government—drives the majority of revenues.

Trump’s initial salvo came via Truth Social, where he took aim at what he characterized as misplaced priorities among defense manufacturers. The president criticized contractors for issuing substantial dividends and executing stock buybacks while production timelines stretch and maintenance capabilities lag. His proposed solution was blunt: an outright ban on dividends and buybacks until companies invest in new, modern production facilities. Trump didn’t stop there, announcing that defense executive compensation would be capped at $5 million annually until manufacturing infrastructure improves, calling current pay packages “exorbitant and unjustifiable.”

The market’s immediate reaction was predictable. Lockheed Martin dropped 4.8%, Northrop Grumman fell 5.5%, General Dynamics declined 4.2%, and RTX—specifically called out by Trump—lost 2.5%. For investors accustomed to the defense sector’s reputation as a stable, dividend-paying haven, the prospect of eliminated shareholder returns and potential executive exodus created genuine concern about the sector’s investment thesis.

But Trump’s follow-up announcement transformed the narrative entirely. His proposal to increase the 2027 defense budget from the provisioned $1 trillion to $1.5 trillion represents a massive expansion of potential contracts. This $500 billion increase dwarfs the industry’s current concerns about capital allocation, suggesting that revenue growth could more than compensate for any temporary restrictions on how companies return cash to shareholders. Trump framed the increase as necessary to build America’s “Dream Military” in what he described as “very troubled and dangerous times.”

The reversal in share prices was swift and dramatic. Lockheed Martin rebounded 4.6%, Northrop Grumman gained 3.5%, General Dynamics added 2.4%, and even RTX recovered with a 0.7% gain. Investors quickly recalculated the risk-reward equation: short-term restrictions on capital returns versus long-term revenue growth from a substantially larger defense budget.

The episode highlights several critical considerations for defense sector investors. First, political risk remains paramount in an industry where government policy can instantly reshape the investment landscape. Second, the sector’s traditional appeal as a source of reliable dividends may be under pressure in the current political environment. Third, companies that can rapidly expand production capacity may be positioned to capture disproportionate shares of increased spending.

For investors evaluating defense stocks, Trump’s dual announcements create a complex calculus. The potential 66% budget increase suggests robust revenue growth ahead, but restrictions on buybacks and dividends fundamentally alter the value proposition for income-focused investors. Companies with existing capacity expansion plans and lower current payout ratios may prove more resilient. Meanwhile, the executive compensation cap could create talent retention challenges at a time when production demands are intensifying.

The defense sector’s wild ride this week serves as a reminder that in industries dominated by government contracts, policy tweets can matter as much as earnings reports.

ACCO Brands (ACCO) – 2025 Review and 2026 Expectations

Posted on January 8, 2026January 8, 2026 by slightbourne@noblecapitalmarkets.com

Thursday, January 08, 2026

ACCO Brands Corporation is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include AT-A-GLANCE®, Esselte®, Five Star®, GBC®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.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.

2025 Review. ACCO Brands’ 2025 narrative was dominated by a clear priority: defend profitability and cash generation in a soft demand environment, using restructuring and cost takeout as the primary levers while the top line remained pressured. Across the first three quarters of 2025, demand was weak and uneven globally, and Q3 in particular underscored that as sales came in lower than expected; however, the Company still delivered adjusted earnings in line with its outlook by expanding gross margin and lowering SG&A, demonstrating meaningful operating discipline.

2026 Preview. Looking into 2026, we believe the key question for investors is whether ACCO can convert its 2025 operational progress into a durable and investable story rather than a purely defensive one. The most important variable remains organic revenue stabilization: the Company has demonstrated the ability to protect earnings despite sales declines, but the market will require evidence that declines are moderating, particularly in the Americas, and that channel inventories and promotional intensity are improving rather than worsening.

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).