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Markets Trade Tightly On Thursday As M&A & Earnings Hit The Tape- $AG $ATOS $CCXI $GBT $HL $INVO $KDNY $NBSE $XBI Rise!

By John F. Heerdink, Jr.
Quote of the Day — “Wealth consists not in having great possessions, but in having few wants.” – Epictetus

Happy Thursday!

The stock market traded in a relatively tightly range as number earnings reports, news of buyouts, & oil prices declining ($88.49/bbl, -2.7%) continued to hit the worldwide web. In turn, the S&P 500 closed at 4,151.94 (-.08%) as  the energy sector fell 3.6%. The Dow ended the session at 32,726.82 (-.26%).  The growth oriented and tech heavy Nasdaq continued its upward move this week as it closed at 12,720.58 (+.41%) as advancing issuers led the declining issuers by a 7-5 margin. The small caps on the Russell 2000 closed slightly lower at 1,906.46 (-.13%). The MicroCaps, for the fourth consecutive day in the row, rose across the board as the iShares Micro-Cap ETF (IWC) closed at $118.60, +.97%, while Biotech stocks jumped upward again as the SPDR S&P Biotech ETF (XBI) closed at $88.71, +5.53%. The 52-wk range is now $61.78 – $136.61. The iShares Biotechnology ETF (IBB) also closed at $130.18, +2.24%. The 52-range is $104.29 – $177.37. A decent measure of the markets volatility or the CBOE Volatility Index (^VIX) closed down again at at $21.44, -2.32% and traded within the range of $21.44 – $22.66. 

The macroeconomic schedule also delivered the initial jobless claims report for the week ending July 30 showed a 6k rise to 260k, while continuing claims for the week ending July 23 rose to 1.416M up 48k. The trade deficit also tightened to $79.6B. The Weekly EIA Natural Gas Inventories report confirmed a 41 bcf build. The yield curve remained inverted today and pulled back after yesterday’s jump as the 10-yr dropped 7 basis points to 2.68% & the 2-yr note dropped 6 basis points to close 3.04%.  

Around the money and precious metals’ tree, the U.S. Dollar Index closed at 105.78, -.69%, while Bitcoin (BTC) bounced to $22,525.50, -3.52% over the last 24-hours at the time of this writing. Gold prices closed at $1,794/oz.,+$28/oz. & silver closed at $20.20/oz., +$.17/oz. on the day. Two mining producers closed the day as follows: Hecla Mining Company (HL) closed at $4.74,+7.48% and First Majestic Silver Corp. (AG) closed at $8.05, +9.23%. On July 12, Hecla Mining  announced its preliminary production for the second quarter of 2022 highlighting the following: Silver production of 3.6 million ounces, an increase of 10% over the first quarter of 2022 due to record throughput at the Lucky Friday Mine, Gold production of 45,718 ounces, an increase of 10% over the first quarter, driven by better performance at the Casa Berardi mine, Zinc production increased 12% over the prior quarter & Lead production increased 23% due to increased production at Lucky Friday. On July 21, First Majestic Silver Corp. announced that total production in the second quarter of 2022 from the Company’s four producing operations, the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine, reached 7.7 million silver equivalent (“AgEq”) ounces consisting of 2.8 million ounces of silver and 59,391 ounces of gold. The Company’s financial results for the second quarter of 2022 are scheduled to be released on Thursday, August 4, 2022.



Amgen (AMGN, $246.98, -.06%) announced that it has agreed to buyout ChemoCentryx (CCXI, $50.43, +109.17%) for $3.7B or for $52 per share in cash. Robert A. Bradway, chairman and chief executive officer at Amgen stated, “The acquisition of ChemoCentryx represents a compelling opportunity for Amgen to add to our decades-long leadership in inflammation and nephrology with TAVNEOS, a transformative, first-in-class treatment for ANCA-associated vasculitis. We are excited to join in the TAVNEOS launch and help many more patients with this serious and sometimes life-threatening disease for which there remains significant unmet medical need. We also look forward to welcoming the highly skilled team from ChemoCentryx that shares our passion for serving patients suffering from serious diseases.”

Shares of Global Blood Therapeutics Inc. (GBT), a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments that provide hope to underserved patient communities, starting with sickle cell disease (SCD), soared Thursday to close at  $47.99, +41.44%. The giant move in GBT’s stock came after Bloomberg reported that GBT is “attracting takeover interest.”

Memes stock GameStop Corp. (GME) closed at $38.36, +1.13% after the recent 4-1 stock split. They also recently announced their CFO’s departure and layoffs last week. On July 12, GameStop reportedly launched its NFT marketplace. GameStop said in its release. “The Company’s NFT marketplace is a non-custodial, Ethereum Layer 2-based marketplace that enables parties to truly own their digital assets, which are represented and secured on the blockchain. Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators and other Ethereum environments.”
Clorox (CLX) closed at $137.7 dropping 4.7% as they failed to beat quarterly expectations and is continuing a restructuring process.

Shares of Apple (AAPL) closed at $165.81, -.19%. Apple enjoys a 6.82% weighting in the S&P 500. On Aug. 1. reportedly Apple raised $5.5B by issuing of 4 series of bonds with ratings of AAA from Moody’s Investors Service and AA+ from S&P Global, according to Informa Global Markets.
On July 28, Apple announced financial results for its fiscal 2022 third quarter ended June 25, 2022. The Company posted a June quarter revenue record of $83.0 billion, up 2 percent year over year, and quarterly earnings per diluted share of $1.20. Tim Cook, Apple’s CEO stated, “This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers. As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.”  Luca Maestri, Apple’s CFO stated, “Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category. During the quarter, we generated nearly $23 billion in operating cash flow, returned over $28 billion to our shareholders, and continued to invest in our long-term growth plans.”

Apple’s board of directors has declared a cash dividend of $.23 per share of the Company’s common stock. The dividend is payable on August 11, 2022 to shareholders of record as of the close of business on August 8, 2022.

Shares of Tesla (TSLA) closed at $922.19, +2.27%. On Wednesday, reportedly in dueling letters filed in Delaware Chancery Court on Wednesday, Twitter (TWTR) argued that court rules require Musk’s countersuit, now filed under seal, to be blocked from public view for five business days. Meanwhile, Musk accused Twitter of misapplying the rule to conceal his version of events.
Last week, Bloomberg reported that a breakthrough deal between senators Chuck Schumer and Joe Manchin includes the extension of a popular consumer tax credit for the purchase of electric vehicles, a big win for EV makers like General Motors Co., Tesla Inc. and Toyota Motor Co.
Tesla reported its Q2 earnings after the close on Tuesday, July 19, meeting analysts’ estimates. Tesla stated that it sold 75% of its Bitcoin, turning it into fiat currency, adding $936 in cash to its balance sheet, but they also ended their streak of reporting record revenue. Revenue came in at $16.9 billion vs $16.88 billion expected & Adjusted EPS: $2.27 vs $1.83 expected. Tesla still expects to see 50% annual growth in their vehicle deliveries. Tesla CEO Elon Musk believes thinks that inflation has likely peaked, he stated “If I were to guess — and I would take this with a grain of salt — I think inflation will decline towards the end of this year. We are certainly seeing prices of commodities trending lower.”

The Walt Disney Company (DIS) closed at $108.11, -.83%. “Andor” will debut on Walt Disney Co’s Disney+ streaming service on Sept. 21. The 12-episode series stars actor Diego Luna as the title character, a rebel who sacrificed himself for the greater good at the end of 2016 film “Rogue One.”

Atossa Therapeutics (NASDAQ: ATOS), a clinical-stage biopharmaceutical company seeking to develop innovative proprietary medicines in oncology and infectious disease with a current focus on breast cancer and COVID-19, rose to an intraday and closing high of $1.01, +2.85% on 666,535 shares of trading volume.
On July 28, Atossa announced it has completed dosing participants in Part C of its Phase 1/2a clinical study of its proprietary inhalation therapy (or, AT-H201) in Australia. AT-H201 consists of two drugs previously approved by the FDA to treat other diseases. AT-H201 is intended to be inhaled via nebulizer with the goal of preventing or reducing lung injury that may be caused by fibrin deposition, fluid build-up and secondary infection. Part C of the study involved administering the two drugs in succession in healthy volunteers. The study originally included a Part D which was designed to assess the effects of the treatment regimen in hospitalized COVID-19 patients with moderate illness. However, due to the rapidly shifting COVID-19 treatment landscape and the introduction of effective vaccines limiting hospitalizations, Atossa has evaluated indications for AT-H201 beyond COVID-19 patients, including treating and/or preventing lung injury in patients undergoing certain cancer treatments.
Rather than conducting Part D of the Phase 1/2a clinical study, Atossa now plans to shift the development of AT-H201 to closely align with its oncology focus by continuing the development in patients with compromised lung-function due to the damaging effects of cancer treatment. For example, radiation treatment can lead to radiation induced lung injury, which is poorly treated with current therapies and is often irreversible. Furthermore, radiation damage can limit the overall success of lung cancer treatment leading to a reduction in efficacy and poor disease control. AT-H201 has pharmacological properties to potentially curtail excessive radiation-induced lung injury without compromising standard of care cancer therapy for cancer patients. AT-H201 is designed to prevent and reduce dose-limiting toxicities, and enable a more durable therapeutic tumor response for cancer patients receiving pulmonary radiation. Steven Quay, M.D., Ph.D., CEO and President of Atossa stated, “We are happy to have completed Parts A, B and C of the clinical trial and look forward to evaluating the results. With widespread availability of SARS-CoV-2 vaccines and other therapies now approved to treat COVID-19, we believe that altering the development pathways for AT-H201 in patients with compromised lung-function resulting from radiation may fill a compelling unmet medical need and create more value for our stockholders. Based on our work to date with AT-H201, we believe we can quickly initiate a clinical study in this setting and we plan to announce our next steps in the fourth quarter.”
Jason McCarthy Ph.D., a biotech analyst at the Maxim Group, put out a note on July 28th reconfirming his BUY rating and a $4 target price on Atossa.
On July 7th, Atossa filed an 8k at sec.gov that stated, that on July 1, 2022, Atossa Therapeutics, Inc. (“Atossa”) entered into a letter agreement (the “Letter Agreement”) with a venture-capital backed, private company based in the United States that is in the pre-clinical stage of developing novel Chimeric Antigen Receptor (CAR) T-cell therapies based on technology licensed from a leading U.S. adult and pediatric cancer treatment and research institution (the “CAR-T Company”). The Letter Agreement requires that up until November 1, 2022 the CAR-T Company will (i) negotiate exclusively with Atossa for Atossa to acquire the CAR-T Company, and (ii) address certain matters related to personnel, operations and intellectual property. Atossa has paid $3 million for the exclusive right to negotiate with the CAR-T Company. If a definitive agreement is not reached for Atossa to acquire the CAR-T Company and if a specified material adverse event has not occurred, then Atossa will pay an additional $2 million for a 19.99% preferred stock equity interest in the CAR-T Company. Atossa is under no obligation to complete the acquisition of the CAR-T Company and no assurance can be given that an acquisition will be completed on acceptable terms or at all.
Shares of Fate Therapeutics, Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for patients with cancer, closed at $32.55, -.79%.
After the market closed on August 3, Fate released its business highlights and financial results for the second quarter ended June 30, 2022. Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics stated,  “We continue to make important strides across our clinical, regulatory, and manufacturing operations to support pivotal readiness of our iPSC-derived NK cell product candidates for B-cell lymphoma, and are looking forward to meeting with the FDA in the third quarter to discuss registrational pathways for the treatment of relapsed / refractory aggressive lymphomas, including for patients that have previously failed CD19-targeted CAR T-cell therapy. We are also excited that clinical investigation of FT536 has initiated to assess the targeting of oncogenic and cellular stress ligands, a novel pan-tumor-targeting strategy with the potential to overcome common mechanisms of tumor escape that frequently emerge in patients with advanced solid tumors. Finally, we continue to drive our collaborations with Janssen and Ono with strong momentum, and are well positioned to achieve significant milestones and advance three multiplexed-engineered, CAR-targeted cell collaboration candidates into clinical development over the next 12 months.”
On June 30, Fate announced that Brian T. Powl has been appointed Chief Commercial Officer. Mr. Powl brings to Fate Therapeutics extensive commercial leadership experience in hematologic malignancies and solid tumors, having previously served as the Global Commercial CAR T lead at Celgene Corporation where he oversaw the commercial development strategy of the company’s CAR T-cell therapies. Mr. Powl most recently served as Senior Vice President, Commercial Development & Marketing at MEI Pharma, Inc., where he led the commercialization efforts of a late-stage small molecule program in B-cell malignancies across marketing, sales, market access and commercial operations.
On June 28 Fate announced that it has expanded its off-the-shelf, iPSC-derived, cell-based cancer immunotherapy collaboration with ONO Pharmaceutical Co., Ltd. (ONO) to include the development of chimeric antigen receptor (CAR) NK cell collaboration candidates. In addition, as part of the collaboration’s expansion, ONO will contribute novel binding domains targeting a second solid tumor antigen. Under the original Collaboration and Option Agreement entered into between Fate and ONO in September 2018, ONO has contributed novel binding domains targeting an initial solid tumor antigen, and Fate is currently conducting preclinical development of a multiplexed-engineered, iPSC-derived CAR T-cell product candidate for solid tumors. Under the terms of the amended Collaboration and Option Agreement, Fate will advance iPSC-derived CAR NK and CAR T-cell product candidates to a pre-defined preclinical milestone, at which point ONO has an option to assume responsibility for worldwide development and commercialization with Fate retaining the right to jointly develop and commercialize in the United States and Europe. Fate retains all rights of manufacture of collaboration products on a global basis.

Shares of InMed Pharmaceuticals Inc. (NASDAQ: INM), a leader in the development, manufacturing and commercialization of rare cannabinoids, closed at $.41/share, +2.58%. On July 25, InMed provided an update on its Phase 2 clinical trial using investigational drug INM-755 cannabinol (“CBN”) cream for the treatment of patients with epidermolysis bullosa (“EB”) highlighting the following: 1) Phase 2 clinical trial recently expanded to include adolescents following independent review of early safety data, 2) First adolescent patient with EB enrolled into clinical trial and completed treatment, 3) International patent granted for the use of cannabinol for the treatment of epidermolysis bullosa
On July 18, InMed announced Michael Woudenberg has been appointed Chief Operating Officer of the Company, overseeing all day-to-day operations. Mr. Woudenberg was previously Senior Vice President of Chemistry, Manufacturing and Controls. Mike has been an integral part of the executive team for the last four years, supporting multiple functions within the organisation. Prior to joining InMed, Mike had over 20 years of successful drug development, process engineering, GMP manufacturing and general management experience at all levels of various companies. Mike’s intimate knowledge of the Company’s operations and extensive leadership experience make him an ideal candidate to oversee operations and support the long-term strategic growth of the Company. He will continue to report to Eric A. Adams, InMed President and CEO.
On June 14, InMed announced that a peer-reviewed scientific study entitled “Effects of Rare Phytocannabinoids on the Endocannabinoid System of Human Keratinocytes” has been published in the International Journal of Molecular Sciences. The study, in collaboration with Dr. Mauro Maccarrone, Professor and Chair of Biochemistry at the Department of Biotechnological and Applied Clinical Sciences, University of L’Aquila, Italy, highlights the biological activity of tetrahydrocannabivarin (“THCV”), cannabichromene (“CBC”) and other rare cannabinoids and their potential role in addressing various skin conditions. In the peer-reviewed study, researchers analyzed the effects of rare cannabinoids THCV, CBC, cannabigerol (“CBG”) and cannabigerolic acid (“CBGA”) on the major endocannabinoid system elements in skin cells. Using a widely recognized in vitro model of human keratinocytes, researchers studied how these cannabinoids interacted with several receptors including cannabinoid receptors and other endocannabinoid system components. In summary, each cannabinoid had distinct biological activity via the endocannabinoid system. In particular, THCV was shown to perform as a cannabinoid receptor 1 (“CB1”) antagonist and have a high affinity for the human transient receptor potential vanilloid 1 (“TRPV1”), which is involved in skin sensation, as did CBC albeit to a lesser extent. The results from the study support additional research of these rare cannabinoids for their potential effect on skin conditions.“This study represents the first systematic analysis of the effects of the rare cannabinoids THCV, CBC, CBGA and CBG on the major endocannabinoid system elements using human keratinocytes. These initial observations should be considered when exploring the therapeutic potential of rare cannabinoids for the treatment of human skin disease,” said InMed’s scientific advisor, Dr. Mauro Maccarrone. “This peer-reviewed study provides important scientific research investigating the distinctly different physiological effects of rare cannabinoids,” said Dr. Eric Hsu, Senior VP, Preclinical Research and Development. “As we continue to expand our portfolio of rare cannabinoids, including THCV and CBC, evidence-based research is imperative to improving our understanding of their biological activity. There is growing interest in the potential benefits of rare cannabinoids and this study represents InMed’s commitment to contributing to the body of research of rare cannabinoids.” The journal article can be accessed here: https://www.mdpi.com/1422-0067/23/10/5430.
On June 9, InMed launched B2B sales of the rare cannabinoid delta 9-dominant tetrahydrocannabivarin (“d9-THCV”) into the health and wellness sector via its wholly-owned subsidiary, BayMedica LLC. Shane Johnson, MD, SVP and General Manager of BayMedica stared,  “We are very excited to launch our highly anticipated d9-THCV and further enhance BayMedica’s growing product portfolio. THCV is one of the few rare cannabinoids that has been researched in early clinical trials for various therapeutic effects, fueling significant interest by end-product manufacturers and consumers alike. In anticipation of this launch, we have expanded internal sales and marketing infrastructure, developed new distribution channels and optimized the supply chain to ensure a consistent and reliable supply of a high quality product. As this market continues to mature, we are well positioned to be a leading supplier of rare cannabinoids to the health and wellness industry. We currently have several high-value, rare cannabinoids in various stages of commercial development and will continue to expand our cannabinoid portfolio over the coming years”.

On June 2, InMed Pharmaceuticals Inc. announced that it has entered into securities purchase agreements with a single healthcare-focused institutional investor for the issuance and sale of 4,079,256 of its common shares at a purchase price of $0.858 per share (or pre-funded warrant in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, InMed has also agreed to issue and sell to the investor 1,748,250 common shares (or pre-funded warrant in lieu thereto) at the same purchase price as in the registered direct offering. In addition, the Company has agreed to issue to the investor in the offerings unregistered preferred investment options (the “investment options”) to purchase up to an aggregate of 5,827,506 common shares. The aggregate gross proceeds to the Company of both offerings are expected to be approximately $5 million. The offerings are expected to close on or about June 6, 2022, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offerings to continue pipeline development, advance commercial activities and for general working capital purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offerings. The unregistered investment options to be issued in the offerings will be exercisable immediately upon issuance at an exercise price of $0.74 per share and will expire six and one-half years from the date of issuance. The Company also has agreed that certain existing warrants to purchase up to an aggregate of 4,480,771 common shares of the Company that were previously issued to the investor, with exercise prices ranging from $2.848 to $5.11 per share and expiration dates ranging from July 2, 2026 to November 16, 2026, will be amended effective upon the closing of the registered direct offering so that the amended warrants will have a reduced exercise price of $0.74 per share, will not be exercisable until six months following the closing of the registered direct offering and will expire seven years following the closing of the registered direct offering.

On May 5, InMed announced that its subsidiary, BayMedica, will be providing rare cannabinoids for use in Radicle Science, Inc.’s Radicle Energy rare cannabinoid study to assess the effects of delta-9 (“d-9”) dominant tetrahydrocannabivarin (“THCV”) on energy, focus/attention, appetite and weight/BMI. BayMedia will be supplying its highly pure d-9 dominant THCV, formulated into a proprietary lozenge manufactured by Trokie. This rare cannabinoid, consumer-based investigation will measure the effects of the Company’s d-9 dominant THCV in a randomized, blinded, placebo-controlled study in up to 900 adult participants aged 21 and older who reside in the United States. The study includes three dosing groups including a placebo group (no THCV), each delivered via Trokie’s proprietary lozenge technology. The study is set to begin participant recruitment in May and will run for a four week period starting in June with results expected during the summer. The study is part of Radicle Science’s large scale investigations into several rare cannabinoids involving up to 10,000 participants in total, the largest of its kind to date.

Shares of INVO Bioscience, Inc. (NASDAQ: INVO), a commercial-stage fertility company focused on expanding access to advanced treatment worldwide with its INVOcell® medical device and the IVC procedure it enables, closed at $1.04, +1.96%.
INVO Bioscience will report financial results for its second quarter 2022, ended June 30, 2022, after the market close on Monday, August 15, 2022. The Company has scheduled a conference call that same day, Monday, August 15, 2022, at 4:30 pm ET, to review the results. Interested parties can access the conference call by dialing 833-756-0861 or 412-317-5751. Live Webcast Information: Interested parties can access the conference call via a live webcast, which is available in the Investor Relations section of the Company’s website at https://www.invobioscience.com/investors/ or https://app.webinar.net/LARy8Ay8DBw.
***INSIDER BUYING ALERT***– On Friday June 3, after the close, a number of Form 4’s were filed at www.sec.gov confirming that the CEO, COO, CFO and 5 members of the board of directors purchased shares at $.95/share on June 1, 2022. Here’s the link to view all of the share purchases. 
After the market closed May 16, INVO reported financial results for its first quarter 2022, ended March 31, 2022 and highlighted the following: The three INVO Centers in Birmingham, Alabama, Atlanta, Georgia, and Monterrey, Mexico experienced a 40% increase in patient inquiries and consultations compared to the 4th quarter of 2021. This, in part, is the result of our locally targeted marketing efforts and is a positive indicator for potential treatment cycle growth in the coming periods, Announced plans to open additional INVO Centers in Tampa, Florida, and Kansas City, Missouri, in addition to the previously announced planned clinic in the San Francisco Bay Area, Signed an exclusive distribution agreement with Onesky Holdings Limited (“Onesky”) for mainland China (excludes Hong Kong, Macau and Taiwan). The exclusivity is subject to minimum annual purchase amounts over a 5-year term starting upon product registration, the cost of which is to be borne by Onesky, Processed initial product orders from direct sales to U.S. IVF clinics and engaged with approximately 80 clinics, including both new relationships and those already trained on the INVOcell and IVC by Ferring, & Received product orders from our Spain, Pakistan and Nigeria partnerships.
On April 28, INVO announced that in celebration of this year’s National Infertility Awareness Week (“NIAW”), three eligible patients will be granted a full IVC treatment cycle free of charge. The grant program, including patient selection, will be launched in the coming weeks. NIAW is a movement, founded in 1989 by RESOLVE, with a mission to empower patients and help those struggling to build a family. “We are committed to helping people suffering with infertility challenges have access to effective and affordable care,” stated Steve Shum, INVO CEO. “This grant program will benefit selected recipients and is part of our efforts to build awareness and educate patients on INVOcell as an effective and available treatment. We believe our INVOcell technology and the IVC treatment can provide an affordable solution for patients diagnosed with infertility, and can help address key industry challenges regarding cost, capacity constraints and access to care for the large, underserved patient population. We have three operational INVO Centers treating patients in Birmingham, Alabama, Atlanta, Georgia, and Monterrey, Mexico, with others scheduled to open in the San Francisco, Tampa and Kansas City areas later this year. In collaboration with our partners in Atlanta, we are pleased to offer this grant program and encourage people with fertility challenges to reach out to our INVO Center to check eligibility and receive details.” Bloom Fertility, an INVO Center, 6 Concourse Parkway, Suite 250., Atlanta, GA 30328, Ph 678-597-9933, hellobloomfertility.com.
Shares of NeuBase Therapeutics (NASDAQ: NBSE), a biotechnology platform company Drugging the Genome™ to address disease at the base level using a new class of precision genetic medicines, closed at $1.28, +13.27%.  The 52-wk range is $.77-$4.40.
On June 29, NBSE announced the promotion of William (Bill) Mann, Ph.D. to President of the Company, effective immediately. Dr. Mann will also continue to serve as NeuBase’s Chief Operating Officer. “Since joining NeuBase as our Chief Operating Officer in July 2020, Dr. Mann has played an integral role in the advancement of the Company’s PATrOL™ platform and pipeline of therapeutic programs to treat myotonic dystrophy type 1, Huntington’s disease, and KRAS-driven cancers,” said Dietrich A. Stephan, Ph.D., Founder, Chief Executive Officer, and Chairman of NeuBase. “I look forward to continuing our work together as we employ NeuBase’s platform to design and develop novel genetic medicines that target and rescue gene dysfunctions and drive clinically impactful outcomes in rare and common diseases.”Prior to joining NeuBase, Dr. Mann served as the President, CEO, and board member of Helsinn Therapeutics U.S., where he transformed the development-focused company into a profitable commercial entity with a portfolio that included Aloxi®, Akynzeo®, Halaven®, and Zykadia®. Prior to Helsinn, he was Vice President of Corporate Development at Sapphire Therapeutics, where he led several business development transactions, including the licensing of anamorelin to Ono Pharmaceutical Co, Ltd., and played a key role in the sale of the company to Helsinn Healthcare SA. Also in this role, Dr. Mann managed the international Phase 2B study of anamorelin, which is now approved in Japan as Adlumiz® for the treatment of cancer cachexia. Dr. Mann began his professional career at Novartis, where he led a multidisciplinary drug discovery program and later served as Director of Business Development. He received bachelor and doctorate degrees in biochemistry from the University of Aberdeen, Scotland, completed postdoctoral studies at The Rockefeller University, and obtained an MBA from Rutgers University.
On May 17, Neubase announced the presentation of preclinical pharmacokinetics (PK) and biodistribution data for its lead development candidate, NT-0231.F, supporting a differentiated whole body treatment solution for myotonic dystrophy type 1 (DM1). These new data are being presented today in a poster session at the American Society of Gene and Cell Therapy (“ASGCT”) 25th Annual Meeting, taking place virtually and in person in Washington, D.C., May 16-19, 2022. Following a single intravenous (IV) injection of 30 mg/kg in wild-type BALB/c mice, NT-0231.F was cleared rapidly from the systemic compartment and demonstrated rapid and wide distribution into tibialis anterior muscle, heart muscle, and brain tissues. NT-0231.F rapidly cleared the plasma, and each tissue evaluated displayed an extended elimination phase with tissue concentrations measurable for at least four weeks following a single IV dose administration. Sandra Rojas-Caro, M.D., Chief Medical Officer of NeuBase, said, “We continue to build a robust and compelling data set potentially supporting a whole body treatment solution for DM1. These PK and biodistribution data presented today show IV administration of our lead candidate results in exposure in the major tissues that are affected by DM1. We believe the ability of our drug candidate to reach skeletal and heart muscles as well as brain tissue may potentially deliver a differentiated therapeutic approach to not only treat the myotonia, muscle weakness, and cardiac effects but also the cognitive impairments seen in DM1. We have now demonstrated in preclinical models that our lead candidate NT-0231.F achieves clinically relevant molecular and functional rescue as well as whole-body distribution.”
INmune Bio

INmune Bio, Inc. (INMB) closed at $10.31, +2.59%. On August 3, INMB reported its financial results for the quarter ended June 30, 2022 and provides a business update. As of June 30, 2022, the Company had cash and cash equivalents of approximately $61.2 million. As of August 3, 2022, the Company had approximately 17.9 million common shares outstanding. RJ Tesi, M.D., CEO of INmune Bio stated, “In April, we announced the dosing of our first patient treated with XPro™1595 in the treatment of neuroinflammation as a cause of mild Alzheimer’s disease (AD) in Phase II clinical trial, AD02. The trial is a blinded, randomized, placebo-controlled multicenter study in Australia, in Canada and in the United States. Although the trial in the United States is currently on hold pending conclusion of the FDA’s manufacturing inquiry, we continue to enroll patients in Australia where the trial is proceeding as planned. Additionally, our plan to launch additional blinded, randomized, placebo-controlled Phase II trials in patients with mild cognitive impairment (MCI) and TRD will occur after the clinical hold is lifted. Our INKmune™ platform continues to make positive strides. We are actively expanding the INKmune program towards the treatment of solid tumors. INKmune primed NK cells have unique biologic characteristics that should make the therapy effective in solid tumors.”

Shares of Chinook Therapeutics, Inc. (KDNY), a biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, closed at $20.27, +5.76%.

On July 5, KDNY announced that the European Commission has granted orphan drug designation for BION-1301 for the treatment of primary IgA nephropathy (IgAN). The decision follows a positive opinion from the Committee for Orphan Medicinal Products (COMP) of the European Medicines Agency (EMA). Orphan drug designation is granted to medicines that are intended to treat, prevent or diagnose a life-threatening or chronically debilitating rare disease with a prevalence in the European Union (EU) of fewer than five in 10,000 and with either no currently approved method of diagnosis, prevention or treatment or with significant benefit to those affected by the disease. Orphan designation in the EU provides sponsors with incentives including protocol assistance, 10 years of market exclusivity after approval and reductions in regulatory fees.


Economic Reports

On Monday, the Final July IHS Markit Manufacturing PMI came in lower at 52.2%, while the July ISM Manufacturing Index came in slightly lower at 52.8%. The June Construction Spending report came in at -1.1%.

On Tuesday, the June JOLTS Job Openings report that ended lower at 10.698M.

On Wednesday, the Weekly MBA Mortgage Applications Index report came in at 1.2%, the Final July IHS Markit Services PMI came in at 47.3%, & the June Factory Orders came in at 2%, the July ISM Non-Manufacturing Index rose to 56.7% & the gasoline inventories report showed a 163K barrels build.

Investing & Inspiration

  1. “Wealth consists not in having great possessions, but in having few wants.” – Epictetus
  2. “If we open a quarrel between past and present, we shall find that we have lost the future.” – Winston Churchill
  3. “Hope is patience with the lamp lit.” – Tertullian
  4. “A single sunbeam is enough to drive away many shadows.” – Francis of Assisi
  5. “With the past, I have nothing to do; nor with the future. I live now.” – Ralph Waldo Emerson
  6. “Laziness may appear attractive, but work gives satisfaction.” – Anne Frank
  7. “I never think of the future – it comes soon enough.” – Albert Einstein

  8. Hope is but the dream of those who wake.” – Matthew Prior

  9. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul
  10. “Real knowledge is to know the extent of one’s ignorance.” – Confucius
  11. “Better keep yourself clean and bright; you are the window through which you must see the world.” – George Bernard Shaw

  12. Nothing great in the world has ever been accomplished without passion.” – Georg Wilhelm Friedrich Hegel

  13. “History is a vast early warning system.” – Norman Cousins 

  14. “We first make our habits, and then our habits make us.” – John Dryden

  15. “The traveler sees what he sees, the tourist sees what he has come to see.” – Gilbert K. Chesterton
  16. “Adventure is worthwhile.” – Aesop
  17. “We must build dikes of courage to hold back the flood of fear.” – Martin Luther King, Jr.
  18. “The return we reap from generous actions is not always evident.” – Francesco Guicciardini
  19. “Courage is knowing what not to fear.” – Plato

  20. “Science may never come up with a better office communication system than the coffee break.” – Earl Wilson

  21. “Progress was all right. Only it went on too long.” – James Thurber

  22. “If you would know strength and patience, welcome the company of trees.” – Hal Borland

  23. “We aim above the mark to hit the mark.” – Ralph Waldo Emerson
  24. “Hope is being able to see that there is light despite all of the darkness.” – Desmond Tutu

  25. “Our chief want is someone who will inspire us to be what we know we could be.” – Ralph Waldo Emerson

  26. “Patience is a virtue, and I’m learning patience. It’s a tough lesson.” – Elon Musk

  27. “Great things are done when men and mountains meet.” – William Blake

  28. “The man who has no imagination has no wings.” – Muhammad Ali

  29. “Formula for success: rise early, work hard, strike oil.” – J. Paul Getty

  30. “Action is the foundational key to all success.” – Pablo Picasso

  31. “Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.” – Samuel Smiles

    “The backbone of surprise is fusing speed with secrecy.” – Carl von Clausewitz

  32. “There are no shortcuts in evolution.” – Louis D. Brandeis

  33. “I am fascinated by what is beautiful, strong, healthy, what is living. I seek harmony.” – Leni Riefenstahl
  34. “If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.” – Henry David Thoreau
  35. “Waste no more time arguing about what a good man should be. Be one.” – Marcus Aurelius
  36. “It is during our darkest moments that we must focus to see the light.” – Aristotle Onassis
  37. “Courage is fear holding on a minute longer.” – George S. Patton
  38. “You must be the change you wish to see in the world.” – Mahatma Gandhi
  39. “Don’t judge each day by the harvest you reap but by the seeds that you plant.” – Robert Louis Stevenson 
  40. “It is in the character of very few men to honor without envy a friend who has prospered.” – Aeschylus
  41. “Life is a series of natural and spontaneous changes. Don’t resist them – that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.” – Lao Tzu
  42. “The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey
  43. “Anything simple always interests me.” – David Hockney
  44. “He who angers you conquers you.” – Elizabeth Kenny
  45. “Concision in style, precision in thought, decision in life.” – Victor Hugo
  46. “The secret of genius is to carry the spirit of the child into old age, which means never losing your enthusiasm.” – Aldous Huxley
  47. “View health as an investment, not an expense.” – John Quelch
  48. “The most effective way to do it, is to do it.” – Amelia Earhart
  49. “Man needs his difficulties because they are necessary to enjoy success.” – A. P. J. Abdul Kalam
  50. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha
  51. “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
  52. “You must do the things you think you cannot do.”- Eleanor Roosevelt
  53. “Success is dependent on effort.” – Sophocles
  54. “Nobody who ever gave his best regretted it.” – George Halas
  55. “Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.” ~ Oprah Winfrey
  56. “And when I breathed, my breath was lightning.” – Black Elk
  57. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
  58. “You are the sum total of everything you’ve ever seen, heard, eaten, smelled, been told, forgot – it’s all there. Everything influences each of us, and because of that I try to make sure that my experiences are positive.” – Maya Angelou
  59. “If you want a guarantee, buy a toaster.” – Clint Eastwood
  60. “We are an impossibility in an impossible universe.” – Ray Bradbury
  61. “If you think in terms of a year, plant a seed; if in terms of ten years, plant trees; if in terms of 100 years, teach the people.” – Confucius
  62. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
  63. Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
  64. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
  65. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
  66. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
  67. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
  68. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
  69. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
  70. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
  71. “There is more to life than increasing its speed.” – Mahatma Gandhi
  72. “Your attitude is like a box of crayons that color your world. Constantly color your picture gray, and your picture will always be bleak. Try adding some bright colors to the picture by including humor, and your picture begins to lighten up.” – Allen Klein
  73. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
  74. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
  75. “In matters of truth and justice, there is no difference between large and small problems, for issues concerning the treatment of people are all the same.” – Albert Einstein
  76. “Life is too short for long-term grudges.” – Elon Musk
  77. There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
  78. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
  79. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
  80. “Ours is a world of nuclear giants and ethical infants. We know more about war that we know about peace, more about killing that we know about living.” – Omar N. Bradley
  81. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
  82. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
  83. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
  84. “Let there be work, bread, water and salt for all.” – Nelson Mandela
  85. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
  86. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
  87. “I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.” – Albert Einstein
  88. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
  89. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
  90. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
  91. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
  92. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
  93. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
  94. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
  95. “Delete the negative; accentuate the positive!” – Donna Karan
  96. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
  97. “The world is a dangerous place to live; not because of the people who are evil, but because of the people who don’t do anything about it.” – Albert Einstein
  98. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
  99. “Everything has beauty, but not everyone sees it.” – Confucius
  100. A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.” – John C. Maxwell
  101. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
  102. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
  103. “The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.” – Michelangelo
  104. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
  105. “I like to encourage people to realize that any action is a good action if it’s proactive and there is positive intent behind it.” – Michael J. Fox
  106. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
  107. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
  108. “Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.” – Andrew Ross Sorkin
  109. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
  110. “No matter what you’re going through, there’s a light at the end of the tunnel and it may seem hard to get to it but you can do it and just keep working towards it and you’ll find the positive side of things.” – Demi Lovato
  111. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
  112. “Educating our children and giving them the skills they need to compete in a global economy is a smart investment in our country’s future.” – Sheldon Whitehouse
  113. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
  114. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
  115. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
  116. “The sofa is a really important investment for anybody, and I don’t mean financially. You need to find a really great sofa that can transition with you, and you can build from there.” – Jeremiah Brent
  117. “There is no investment you can make which will pay you so well as the effort to scatter sunshine and good cheer through your establishment.” – Orison Swett Marden
  118. “Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie
  119. “There is little that can withstand a man who can conquer himself.” – Louis XIV
  120. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
  121. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
  122. “The advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.” – Bill Gates
  123. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
  124. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
  125. “Never do anything against conscience even if the state demands it.”– Albert Einstein
  126. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
  127. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
  128. “In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?” – Li Lu
  129. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
  130. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
  131. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
  132. “Investing in women’s lives is an investment in sustainable development, in human rights, in future generations – and consequently in our own long-term national interests.” – Liya Kebede
  133. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
  134. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
  135. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
  136. “The secret of getting ahead is getting started.” – Mark Twain
  137. “The amount of work and the amount of both physical and emotional investment it takes to get to the top.” – Drew Bledsoe
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