U.S. Stocks Retreat Monday Prior Tomorrow’s Inflation Data Reveal – ( $BTC $EPRX $GOVX $INDP $ORCL $RIO $TSLA Rise!)

By John F. Heerdink, Jr.

Major Index Performance

U.S. equity markets retreated from last week’s record highs as traders braced for upcoming inflation data (CPI, Tuesday at 8:30am ET) and closely monitored developments in global trade relations. Indeed, the today’s session seemed to illustrate the market’s delicate balance between optimism for a September rate cut and caution over persistent inflation, labor market weakness, and geopolitics. Technology remained dominant but sector rotation, tariff noise, and macro uncertainty kept traders on edge as the week began.The S&P 500 closed at 6,374.32, down 16 points or 0.25%. The Dow Jones Industrial Average declined by 200.62 points, or 0.45%, finishing at 43,975.09. The tech-heavy Nasdaq Composite slipped 64.42 points, or 0.30%, to close at 21,385.40, though these indices remain near their historic peaks. The Russell index also posted slight losses down .09% and closing at 2,216.51, reflecting a rotation out of smaller-cap names as sector leadership shifted back toward large-cap technology and financials.

Macroeconomic Reports

Second-quarter GDP growth was reported at a respectable annualized rate of 3.0%, though underlying indicators reveal tepid consumer spending, subdued private investment, and persistent weakness in the housing market. The July jobs report undershot forecasts, with payroll gains of just 73,000 and prior months seeing sharp downward revisions. Unemployment edged up to 4.24%, adding fuel to speculation that the Federal Reserve may move toward an initial rate cut in September if labor conditions do not improve and tariff-driven price pressures persist. July’s PMI data signaled some momentum in services, while manufacturing continues to lag.

Federal Reserve, Yield Curve & Interest Rates

Despite recent volatility, market consensus expects the Fed to ease rates later this year, potentially as soon as September. Bond prices moved higher and yields compressed today, as investors positioned ahead of the consumer inflation print due tomorrow. The yield curve continues to hold a shallow inversion, reflecting ongoing policy uncertainty and tariff impacts on longer-term growth. The 2-yr closed at 3.783% and the 10-yr closed at 4.289%.

Tariff and Trade News

President Trump’s sweeping reciprocal tariffs—effective since August 7—remain front and center. The administration’s aggressive stance, echoed in a warning on Truth Social about potential 1929-style market consequences, has heightened volatility. Technology stocks benefited from efforts to onshore production and dodge higher tariffs, but supply chain anxieties linger.

Corporate Headlines & Share Price Movements

NVIDIA ($182.06, -.37%) set the tone, unveiling new physical AI and accelerated computing products at SIGGRAPH 2025. While today’s session saw pressure on semiconductor stocks amid renewed concerns over export controls to China, NVIDIA’s partnerships with top gaming studios remain an area of strategic strength.

Tesla (TSLA) extended its rally, closing up 2.84% at $339.03. Investors cheered a surge in Model Y demand ahead of September’s EV tax credit expiration, and CEO Elon Musk confirmed public robotaxi availability beginning next month. Tesla’s ongoing focus on autonomous driving and expanding production keeps it a core growth story despite political headwinds.

Meta Platforms (META) saw modest pressure, finishing down 0.45% at $765.87. Options market activity turned bullish, though RSI readings suggest near-term overbought conditions. News emerged of privacy concerns linked to contractors accessing user data for AI model training, reigniting broader debates about Meta’s governance.

McDonald’s (MCD, $304.36, -.36%) did not dominate headlines today, and traded nearly flat, reflecting limited sector news flow in the face of broader consumer discretionary softness.

Oracle (ORCL) rose 1.05% to close at $252.68 as investors continue to monitor its multi-cloud and AI integration initiatives.

Palantir Technologies (PLTR, $182.68, -2.29%) pulled back today after recently gaining 21% in the wake of robust software demand and new government contracts, outperforming peer tech names and helping to lift the broader Nasdaq.

Rio Tinto Group saw muted movement, but rose .45% to close at $62.14 as investors digested stabilization in metals markets and looked for clarity on the impact of tariffs on global mining operations.

Commodities & Cryptocurrency

Gold: Gold prices closed at $3,393.70/ounce, -.32%.
Silver: Silver closed at $37.65 and is up 27.08% YTD.
Oil: Crude Oil prices rose .06% to $64/bbl over.
Bitcoin (BTC): Bitcoin rallied to an all-time high of $122,955 today and is trading at $119,230 currently up 1.95%.

Vista Partners Watchlist Highlights & Updates

Eupraxia Pharmaceuticals (EPRX, $5.33, +1.24%) is clinical-stage biotechnology firm headquartered in Victoria, Canada, has quietly become one of the more intriguing stories on both sides of the border in 2025. The company’s shares now trade under the ticker EPRX on both the Nasdaq and the Toronto Stock Exchange, following its U.S. market debut in April 2024. This dual listing has broadened its investor base at a time when the company’s clinical and financial narrative is gaining momentum. All covering analysts currently rate the stock as a “Buy” or better, with not a single “Hold” or “Sell” recommendation in sight. In a sector defined by binary outcomes and frequent disappointment, such unanimity is striking. Overall, analysts cite Eupraxia’s strong clinical pipeline and revenue growth potential as key drivers behind their bullish outlook.

On July 24, Cantor Fitzgerald initiated coverage on Eurpaxia with an Overweight rating and a $11 Price Target. Their report is titled “Set It and Forget It” Approach to EOE & Beyond.” Here are the other analysts that cover Eupraxia currently:

HC Wainwright: Initiated Covrage on EPRX with a “Strong Buy” on June 26, 2025.
Canaccord Genuity: Initiated coverage with a “Speculative Buy” rating in June 2025.
Raymond James Ltd.: Maintains a “Strong Buy” rating as of June 2025, with a history of upgrades from “Outperform” to “Strong Buy” over the past year.
Research Capital Corporation: Maintains a “Buy” rating, consistently reaffirming its positive stance throughout 2024 and 2025.

Eupraxia announced on July 8 that the first patient dosed in their Phase 2b randomized, placebo-controlled portion of the RESOLVE clinical trial evaluating EP-104GI, an investigational treatment for eosinophilic esophagitis (“EoE”). EP-104GI is injected directly into the affected tissues of the esophagus to reduce inflammation with stable, localized, and long-duration drug delivery, while minimizing unwanted systemic adverse events and side effects often associated with steroid-based therapies. The Phase 2b portion of the RESOLVE study will enroll a minimum of 60 participants randomized in a 1:1:1 ratio to receive one of two doses of EP-104GI or placebo. After six months, eligible patients initially dosed with placebo may elect to receive EP-104GI. The primary objective is to assess the efficacy of EP-104GI in improving tissue health, as measured by the Eosinophilic Esophagitis Histology Scoring System (“EoEHSS”). Secondary and exploratory objectives include evaluating symptomatic improvement through patient-reported outcomes — Straumann Dysphagia Index score (SDI) and Dysphagia Symptom Questionnaire (DSQ), endoscopic and histologic changes (including Peak Eosinophil Count, “PEC”), pharmacokinetics, safety, and tolerability of the selected dose regimens. Up to 25 sites globally are expected to participate in the trial.The Phase 2b portion of the study employs an innovative adaptive design to select the doses of EP-104GI that are administered to patients. The first active dose selection was based on available data from cohorts 1 to 8 of the Phase 2a portion of the study. Based on the previously reported safety, pharmacokinetic, and efficacy data from cohorts 1 to 6, and additional one month data from cohorts 7 and 8, the 120 mg dose (20 injections of 6 mg per site) from cohort 8 was selected for the first treatment arm in the dose optimization phase. A second dose will be selected for evaluation after enrollment in the first arm is complete, based on additional long-term data from the Phase 2a portion of the study. James Helliwell, CEO of Eupraxia Pharmaceuticals stated, “Entering into the Phase 2b stage of the RESOLVE trial is a significant event for Eupraxia. This is an important step for us before proceeding towards the pivotal trials necessary for submitting an application for regulatory approval. We are optimistic that EP-104GI has the potential to significantly advance the standard of care and offer a meaningful new treatment paradigm for patients living with EoE.”

Tribe Public hosted a CEO Presentation and Q&A Webinar Event on Wednesday, May 14th with James A. Helliwell, Director and CEO of Eupraxia Pharmaceuticals (NASDAQ: EPRX). The event is titled “Hard To Swallow: An Underdiagnosed Condition Rising To Surface (EOE).” You may view it now at https://youtu.be/tCtY_27EJG4?si=0PJIp-oyGDEpzxzR

Summit Therapeutics Inc. (NASDAQ: SMMT, $28.25) is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs.

Summit announced (May 30) topline results from the Phase III clinical trial, HARMONi, the first global Phase III study evaluating ivonescimab, successfully met the progression-free survival (PFS) primary endpoint and showed a positive trend in the other primary endpoint, overall survival (OS). HARMONi is a multiregional, double-blinded, placebo-controlled, Phase III study sponsored by Summit evaluating ivonescimab plus platinum-doublet chemotherapy compared to placebo plus platinum-doublet chemotherapy in patients with epidermal growth factor receptor (EGFR)-mutated, locally advanced or metastatic non-squamous non-small cell lung cancer (NSCLC) who have progressed after treatment with a 3rd generation EGFR tyrosine kinase inhibitor (TKI). This is a clinical setting with a patient population where PD-1 monoclonal antibodies have previously been unsuccessful in Phase III global clinical trials in showing either a PFS or OS benefit.

Modular Medical, Inc. (NASDAQ: MODD, $.723) is an insulin delivery technology company with the first FDA-cleared patch pump designed specifically to target the estimated $3 billion dollar adult “almost-pumpers” market with its user-friendly and affordable design. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.” Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.

On August 8, Modular Medical announced its participation at the Association of Diabetes Care & Education Specialists (“ADCES”) Conference, which is being held in Phoenix, Arizona from August 8 to August 11, 2025. With over 11,000 members, the ADCES is a national network of diabetes care and education specialists working to optimize clinical outcomes for people with diabetes. “The ADCES conference is an ideal location for us to showcase our next-generation patch pump, branded as Pivot, for which we plan to file for U.S. Food and Drug Administration (“FDA”) clearance in October 2025. Diabetes care and education specialists are crucial in offering and prescribing pumps to achieve improved clinical outcomes, and we believe they will appreciate the user-friendly design of the Pivot pump and our focus on making diabetes care simpler to learn and manage for our targeted audience of Almost Pumpers,” stated Jeb Besser, CEO of Modular Medical. Modular Medical will also showcase the first playable level of the new Pivot pump gamified training module, which is being developed by Level Ex. Level Ex (powered by Relevate) is the developer of numerous medical games, including Level One, a game designed to teach the basics of caring for diabetes. Level One is endorsed by Breakthrough T1D, a leading global type 1 diabetes research and advocacy organization. Gamification has been proven to make medical training more effective, be more efficient for the clinician and dramatically improve retention of knowledge. Complexity, including support for technology, is a key issue in pump uptake and continues to serve as a barrier to adoption, impacting both the patient and provider.

On August 6, Modular Medical, Inc. announced the first human use of the MODD1 pump to deliver insulin to a person with diabetes in a real-world setting. The MODD1 is delivering insulin to a clinician with Type 1 under institutional review board approval from the United States Food and Drug Administration, which is necessary because the reusable controller line is being validated for human use.

On August 4, Modular Medical announced that the MODD1 cartridge line has been validated for human-use production in the United States. “This is an important milestone for scaling up our manufacturing infrastructure to support our commercial pilot for MODD1 and, eventually, our 3ml Pivot tubeless patch pump launch,” stated Jeb Besser, CEO of Modular Medical. “While we encountered significant delays with the initial shipment of equipment for the manufacturing line to our contract manufacturing site in Mexico, all equipment for the controller line has been installed and validation is underway. We continue to target controller line validation in October for MODD1 with the commercial pilot for MODD1 to follow immediately thereafter.” The ability to scale production is a key differentiator in the pump space, especially given the much higher volumes required for a patch pump. Modular Medical’s simple, low-cost platform was designed from the ground up for high volume manufacturing.

On June 16, Modular Medical announced its participation in the American Diabetes Association (“ADA”) 85th Scientific Sessions, that took place June 20-23, 2025, at the McCormick Place Convention Center in Chicago, Illinois. The Company featured a poster, number 783-P, titled “Elucidating the potential benefit of pump-delivered subcutaneous GLP-1R agonist: an exploratory study in the diet-induced obese mouse,” to be presented by David Maggs, MD, FRCP during the General Poster Session on Sunday, June 22, 2025, from 12:30pm to 1:30pm in the Poster Hall. The presentation highlighted data from an exploratory study evaluating the effects of pump-delivery of a short-acting GLP-1RA on weight, food intake, and glucose tolerance in a diet-induced obese (“DIO”) mouse.“We are excited to share our findings from this novel study in the DIO mouse comparing the pump delivery of exenatide to intermittent dosing of semaglutide,” said Jeb Besser, CEO of Modular Medical. “Given the high rate of gastrointestinal tolerability challenges and resultant discontinuation that is characteristic of GLP-1 therapy, we believe that a personalized approach to GLP-1 titration and dosing, including a mealtime bolus option, would give patients an opportunity to reach their treatment goals, while experiencing easier therapy initiation and a more tolerable maintenance regimen.”

After the close May 28, Modular Medical announced the appointment of Jeff Goldberg to its Board of Directors. Mr. Goldberg brings decades of experience in health care, life sciences, and medical device leadership, including development of generic insulin. Mr. Goldberg began his work in medical technology alongside pioneering medical entrepreneur, and founder of MiniMed, Alfred E. Mann. Mr. Goldberg currently serves as Chairman of Lannett Company, Inc., a generic pharmaceutical manufacturer where he has helped execute a post-restructuring turnaround. During his tenure, Lannett has made significant strides in launching a generic insulin product – progress that aligns closely with Modular Medical’s commitment to innovation and affordability in diabetes care. In addition to his work at Lannett, Mr. Goldberg previously served as President and CEO within Alfred E. Mann’s incubator, IncuMed, where he oversaw multiple portfolio companies focused on drug-device combination products, including an insulin patch-pump program. His tenure with Mr. Mann’s enterprises included pivotal roles in regulatory strategy, operations turnaround, and successful exits, underscoring his ability to guide early-stage technologies to commercial viability. Mr. Goldberg also serves on the boards of several health-care and consumer-focused companies, including ATI Physical Therapy, Cano Health, and Eating Recovery Centers. He holds a JD from UCLA School of Law and an AB from Harvard College. Mr. Goldberg stated, “Modular Medical is advancing a truly disruptive approach to insulin delivery. I’m excited to join the board and contribute to the Company’s journey toward simplifying treatment for people living with diabetes, particularly as the industry shifts toward more accessible and patient-friendly solutions.”

Jeb Besser, CEO of Modular Medical, presented on May 29 at Tribe Public’s Webinar Presentation and Q&A Event titled“Making Diabetes Management Simpler: The New Era of Insulin Therapy.”You may view the event video now at the Tribe Public YouTube Channel.

Shares of ADT Inc. (ADT, $8.37) is a leading provider of monitored security and automation solutions for residential and small business customers in the United States and Canada.

ADT released Q1, 2025 results on Thursday, April 24 and highlighted the following: Continued strong financial results with record recurring monthly revenue and customer retention, GAAP operating cash flows up 28%, Adjusted Free Cash Flow including interest rate swaps up 105%, Returned $445 million to shareholders through share repurchases and dividends, and that they are on track to achieve full year 2025 guidance metrics.

On April 30, ADT in collaboration with Yale and the Z-Wave Alliance, announced the launch of the Yale Assure Lock 2 Touch with Z-Wave for ADT+. The Z-Wave 800 Series smart lock is the only one on the market with fingerprint control and the first smart lock to leverage the newly introduced Z-Wave User Credential Command Class. This industry-first innovation allows users to unlock and disarm their ADT+ security system using just their fingerprint.

On Jan. 22, ADT announced the appointment of Thomas Gartland to the Company’s Board of Directors as an additional independent director. In conjunction with his appointment, Gartland will join the Board’s Audit Committee. Gartland is chairman and chief executive officer of Montway Auto Transport, a privately held auto transport company, and has held this position since 2023. Prior to Montway, Gartland served as executive chairman of Scan Global Logistics and as president, North America, for Avis Budget Group. Gartland serves on the boards of Xenia Hotels & Resorts, Inc. and ABM.

GeoVax Labs, Inc. (Nasdaq: GOVX, $.6798, +.12%) is a clinical-stage biotechnology company developing immunotherapies and vaccines against cancers and infectious diseases.

On August 7, GeoVax Labs today issued a statement in response to the U.S. Department of Health and Human Services’ (HHS) decision to terminate nearly $500 million in BARDA-funded mRNA vaccine development contracts. This action reflects a policy shift, underscored by HHS Secretary Kennedy addressing fundamental concerns around mRNA vaccines. In a post on X, Secretary Kennedy stated: “mRNA vaccines don’t perform well against viruses that infect the upper respiratory tract”. The Secretary added that this is due to a concept known as “antigenic shift, meaning that the vaccine paradoxically encourages new mutations and can actually prolong pandemics as the virus constantly mutates”. GeoVax’s vaccine candidates, including GEO-CM04S1 for COVID-19, are designed to induce immunity using multiple antigens. GEO-CM04S1 expresses both the Spike (S) and Nucleocapsid (N) proteins of SARS-CoV-2, enabling broader and more durable protection – even as the virus mutates. Data from clinical studies have demonstrated that GEO-CM04S1 induces immune responses across variants, from the original Wuhan strain through Omicron, even in immunocompromised patients.

On July 30, GeoVax renewed its call for decisive U.S. action on pandemic preparedness and biodefense. With escalating outbreak risks, public health system strain, and growing bipartisan consensus for domestic solutions, GeoVax underscored the urgent need to modernize the nation’s countermeasure infrastructure and end foreign vaccine dependency. GeoVax’s Modified Vaccinia Ankara (MVA)-based vaccine platform anchors two front-line candidates: GEO-MVA for Mpox/smallpox, designed to protect against both Clade I and II Mpox strains. GEO-CM04S1, a multi-antigen, next-generation COVID-19 vaccine targeting the 40 million U.S. immunocompromised through robust, durable, antibody and T-celldriven immune protection.

On July 29, GeoVax announced an expedited development strategy for its GEO-MVA Mpox vaccine candidate, following newly reaffirmed global emergency status by the World Health Organization (WHO), a record-setting surge in Mpox cases across Africa, and recent favorable scientific advice from the European Medicines Agency (EMA) supporting an expedited development path for GEO-MVA.

After the close on July 28, GeoVax announced financial results for the second quarter ended June 30, 2025, and provided a business update. “The second quarter marked a pivotal period for GeoVax, with compelling clinical data and regulatory milestones reinforcing the strength of our pipeline and our focus on accelerating to commercial status,” said David Dodd, GeoVax’s Chairman and CEO. “The favorable European regulatory guidance for GEO-MVA, robust immune responses demonstrated by GEO-CM04S1 in immunocompromised patients, particularly those with Chronic Lymphocytic Leukemia (CLL), and the continued progress towards initiation of the Gedeptin(R) Phase 2 trial highlight our expanding footprint in oncology and global infectious disease preparedness. These achievements reflect our commitment to advancing innovative, vaccines and immunotherapies that address urgent and underserved medical needs.

On July 28 (morning), GeoVax announced the initiation of a research program to evaluate the immunogenicity and stability of GEO-MVA delivered via Vaxxas’ proprietary high-density microarray patch (HD-MAP) platform in preclinical models.

On July 24, GeoVax announced a strategic shift in its Gedeptin(R) clinical development program, with a new emphasis on evaluating Gedeptin as a neoadjuvant therapy in combination with pembrolizumab for patients with primary, resectable head and neck squamous cell carcinoma (HNSCC). The revised strategy follows the landmark results of the KEYNOTE-689 Phase 3 trial, published in the New England Journal of Medicine on June 18, 2025, which demonstrated a significant improvement in event-free survival (EFS) with the addition of perioperative pembrolizumab in resectable, locally advanced HNSCC patients. These data represent the first validated use of PD-1 inhibition in curative-intent HNSCC and have catalyzed a major shift in treatment paradigms toward neoadjuvant immunotherapy.

On July, 21, GeoVax reinforced the strategic and commercial significance of the recent positive Scientific Advice (SA) received from the European Medicines Agency (EMA) for its GEO-MVA vaccine targeting Mpox and smallpox. The EMA’s feedback indicated that a single Phase 3 immuno-bridging trial, bypassing the need for Phase 1 and 2 studies, may be sufficient to support a Marketing Authorization Application (MAA) under the EU’s centralized procedure. The ability to proceed without Phase 1 and 2 clinical trials substantially reduces development risk and timelines, positioning GeoVax to achieve product commercialization and revenue generation significantly earlier than previously anticipated. Immuno-bridging studies allow for vaccine approval by the immune response elicited by a candidate vaccine comparable to that of an already approved vaccine. This approach, when accepted by regulatory authorities, can reduce the need for large-scale efficacy trials, thereby reducing development time while maintaining regulatory standards for safety and immunogenicity. “This EMA guidance is more than a regulatory milestone; it represents a potential commercial inflection point,” said David Dodd, Chairman and CEO of GeoVax. “We now have a clear, expedited path to commercialization in one of the world’s largest vaccine markets. With the Phase 3 trial in operational preparation, we are entering a potential revenue acceleration phase supported by growing global demand, regulatory momentum, and our progressing advanced MVA manufacturing platform.”

Indaptus Therapeutics, Inc. (Nasdaq: INDP, $7.80, +8.83%) is a company with the ability to harness both the body’s innate and adaptive immune responses, believes that they are uniquely positioned to revolutionize the treatment of cancer and certain infectious diseases.

On July 1, Indaptus announced the additional sale of approximately $3.4 million in aggregate principal amount of convertible promissory notes and accompanying warrants. Together with a prior sale of $2.3 million of convertible promissory notes and accompanying warrants, the Company raised an aggregate of $5.7 million in gross proceeds in this offering.

On June 2, Indaptus announced that the first patient has been dosed in the expansion arm of its Phase 1b/2 clinical trial evaluating Decoy20 in combination with BeOne’s (formerly known as Beigene) PD-1 checkpoint inhibitor, tislelizumab. This newly activated arm of the trial will assess safety, dose optimization, and early signs of anti-tumor activity in patients with advanced solid tumors, previously treated with a checkpoint inhibitor or with tumors typically unresponsive to a checkpoint inhibitor. Jeffrey Meckler, Indaptus’ CEO commented, “This is an important milestone in our clinical development. We have long believed the Decoy platform has the potential to be a game-changing approach to treating solid tumors. Preclinical data consistently demonstrated that Decoy20 works synergistically with a checkpoint inhibitor. Now, for the first time, we are testing this combination in patients. Checkpoint inhibitors, like tislelizumab, have been one of the biggest breakthroughs in cancer therapy and have significantly improved outcomes in a variety of cancers. However, most patients still do not benefit. We believe the combination of Decoy20 plus a PD-1 inhibitor, such as tislelizumab, could enhance immune responses, potentially helping patients who have not responded or have tumors that classically do not respond to checkpoint inhibitor therapy.”

Teladoc Health (TDOC, $6.78) is the world leader in virtual care. Teladoc Health uses proprietary health signals and personalized interactions to drive better health outcomes across the full continuum of care, at every stage in a person’s health journey. Teladoc Health leverages more than two decades of expertise and data-driven insights to meet the growing virtual care needs of consumers and healthcare professionals. For more information, please visit www.teladochealth.com.

Teladoc, (July 29), reported financial results for the three months ended June 30, 2025 (“Second Quarter 2025”). Unless otherwise noted, percentage and other changes are relative to the three months ended June 30, 2024 (“Second Quarter 2024”). Highlights:

Second Quarter 2025 revenue of $631.9 million, down 2% year-over-year
Second Quarter 2025 net loss of $32.7 million, or $0.19 per share
Second Quarter 2025 adjusted EBITDA of $69.3 million, down 23% year-over-year
Integrated Care segment revenue of $391.5 million, up 4% year-over-year, and adjusted EBITDA margin of 14.7%
BetterHelp segment revenue of $240.4 million, down 9% year-over-year, and adjusted EBITDA margin of 4.9%
Paid $550.6 million using cash on hand to retire convertible senior notes due in Second Quarter 2025
On July 17, 2025, they entered into a credit agreement providing for a five-year, $300.0 million senior secured revolving credit facility to preserve and enhance our financial and operational flexibility

Serina Therapeutics, Inc. (NYSE American: SER, $5.10), a clinical-stage biotechnology company, recently announced that its Board of Directors has established November 7, 2025, as the date of its 2025 annual meeting of stockholders (the “Annual Meeting”). The time and location of the Annual Meeting will be set forth in the Serina’s definitive proxy statement for the Annual Meeting to be filed with the Securities and Exchange Commission (the “SEC”). Because the date of the Annual Meeting represents a change of more than 30 days from the anniversary of Serina’s 2024 annual meeting of stockholders, the deadline for stockholder proposals to be submitted pursuant to Rule 14a-8 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), for inclusion in Serina’ proxy materials for the Annual Meeting will be 5:00 p.m. (Central Time) on Friday, August 15, 2025, which Serina’s Board of Directors has determined to be a reasonable period of time before Serina expects to begin to print and send its proxy materials for the Annual Meeting. Stockholder proposals submitted in accordance with Rule 14a-8 of the Exchange Act must also comply with the remaining requirements of Rule 14a-8 in order to be included in the proxy materials for the Annual Meeting. Serina is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina’s POZ PlatformTM provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology. For more information, please visit https://serinatherapeutics.com.