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PPI Falls, Indices End Mixed On Thursday – $DIS $ENVX $INM $INVO $PHAT $XLE Rise!

By John F. Heerdink, Jr.
Quote of the Day “Act as if what you do makes a difference. It does.” – William James


Happy Thursday!

The macroeconomic schedule delivered the July PPI report confirming that it had fallen .5%, while the core PPI clocked in rising .2%. The Weekly initial jobless claims report also came in higher at 262k, while continuing claims came in at 1.428M. The Weekly EIA Natural Gas Inventories report showed a greater build of 44 bcf. All data seemed to confirm that the Fed is making head way with their moves to raise interest rates and cool the inflation numbers, but it is also believed that they will remain on course to raise rates again in September by another 75 basis points. The yield curve rose and remained inverted as the 10-yr rose 13 basis points to 2.89% & the 2-yr note moved up 2 basis points to close 3.19%. Two somber notes today came as the rate on 30-year fixed mortgages has now risen to 5.22% & oil prices also rose 2.7% to close at $94.33 today.

As a result, the major indices closed mixed. The S&P 500 closed at 4,207.07 (-.07%), while 6 of the 11 sectors closed in the red. The energy sector led the day on the strong shoulders of the aforementioned impressive move in oil prices. Energy Select Sector SPDR Fund (XLE) closed at $77.88, +3.44%. The Dow ended the session edging higher and closing at 33,336.67 (+.08%).  The growth oriented and tech heavy Nasdaq closed lower at 12,779.91 (-.58%). However, the small caps on the Russell 2000 moved higher to close at 1,975.26 (+.31%). The MicroCaps ticked higher evidenced by the iShares Micro-Cap ETF (IWC) that closed at $122.75, +.20%. The biotech stocks puled back almost as much as they gained yesterday as the SPDR S&P Biotech ETF (XBI) closed at $90.78, -3.17%. The 52-wk range is $61.78 – $136.61. The iShares Biotechnology ETF (IBB) also closed at $131.29, -1.32%. The 52-range is $104.29 – $177.37. A decent measure of the markets volatility or the CBOE Volatility Index (^VIX) closed up at at $20.20, +2.33% and traded within the range of $19.74 – $20.85. 

Around the money and precious metals’ tree, the U.S. Dollar Index closed at 105.24, +.14%, while Bitcoin (BTC) rose to $23,964.30, -1.55% over the last 24-hours at the time of this writing. Gold prices closed at $1,791/oz., -$4/oz. & silver closed at $20.31/oz., down $.28/oz. on the day. Two mining producers closed the day as follows: Hecla Mining Company (HL) closed at $4.52, -1.74% and First Majestic Silver Corp. (AG) closed at $8.13, -3.79%. On Aug. 8, First Majestic announced the release of its 2021 Sustainability Report summarizing the Company’s Environmental, Social and Governance (“ESG”) performance. The Sustainability Report and the Company’s performance indicators follow the Global Reporting Initiative and Sustainability Accounting Standards Board metrics. The report is available for review under the Corporate Responsibility section of First Majestic’s website (www.firstmajestic.com). “In 2021, First Majestic achieved record production of 26.9 million silver equivalent ounces representing a 32% increase compared to the previous year. This record was in part due to our focus on responsible and sustainable mining integrated with our vision to become the world’s largest primary silver producer,” stated Keith Neumeyer, President and CEO. “I strongly believe that our efforts in 2021 demonstrated our commitment to sustainability and to improving lives and communities in our host regions while increasing shareholder value, as well as driving positive changes for society and delivering long-term benefits for all First Majestic stakeholders.”

 

FURTHER AFIELD 

Shares of Enovix Corporation (ENVX), the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries, rose to $21.13 up a cool 30.84% on Thursday after posting to its website https://ir.enovix.com a quarterly shareholder letter containing the financial results for the second quarter of 2022, ending July 3, 2022, and a new investor presentation. Harrold Rust, President, Chief Executive Officer and Co-Founder of Enovix stated, “I’m pleased to announce that we met our commitment to ship commercial cells for revenue in the second quarter and are now shipping to multiple customers out of Fab-1. Our challenge now is improving our manufacturing output and scaling to meet the demands of world-leading companies.”

Shares of Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, rose to close at $9.14, +1.11% or 24.69% in the last 3-days after Monday’s report of their financial results for the second quarter of 2022 and provided recent business updates. “The second quarter of 2022 was pivotal for Phathom as our teams continued to achieve major milestones, including the approval of our first products, the receipt of an earlier than expected PDUFA date for our EE NDA, and key progress in enrollment in our Phase 3 NERD trial,” said Terrie Curran, President and Chief Executive Officer of Phathom. “As the pharmaceutical industry and global regulatory agencies continue to develop standards to help detect and control levels of nitrosamines, an impurity commonly found in water, meats, and vegetables, we detected trace levels of a nitrosamine in vonoprazan drug product in our post-approval testing as we prepared for commercial launch. We will be discussing with the FDA a new test method and controls, and confirming our assessment that our drug product is within acceptable intake levels. Our goal is to make our product available to H. pylori patients as soon as possible, however, we are now planning for a combined full commercial launch of both H. pylori and EE in the first quarter of 2023. We believe a combined launch will bring significant operational and financial benefits.”

Memes stock GameStop Corp. (GME) closed at $39.45, -2.66%. 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.”

 

VP WATCHLIST UPDATES 
 
Shares of Apple (AAPL) closed at $168.49, -.44%. 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.

 
tesla
 
Shares of Tesla (TSLA) closed at $859.89, -2.62%. Yesterday, it was confirmed that Tesla’s CEO Elon Musk had sold $6.9B of TSLA stock on Tuesday. He also reportedly stated that he wanted to avoid a possible ’emergency sale’ if he was forced to go forward with his purchase of Twitter (TWTR, $44.43, +3.74%.)
 
Tesla’s shareholders of record on Aug. 17, will receive a dividend of 2 new shares for each held after the close of trading on Aug. 24 and the stock will trade at the new, split-adjusted, price the next day, Aug. 25, thus completing its planned 3for 1 stock split.
 
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 $117.69, +4.68% after yesterday’s fiscal Q3 announcement that beat Wall Street’s expectations. In the report Disney highlighted the following: Revenues for the quarter and nine months grew 26% and 28%, respectively, Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.77 from $0.50 in the prior-year quarter. Excluding certain items, diluted EPS for the quarter increased to $1.09 from $0.80 in the prior-year quarter, Diluted EPS from continuing operations for the nine months ended July 2, 2022 increased to $1.66 from $1.02 in the prior-year period. Excluding certain items(1), diluted EPS for the nine months increased to $3.22 from $1.91 in the prior-year period. Bob Chapek, Chief Executive Officer, The Walt Disney Company stated, “We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services. With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings. We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter.”
 
 
 
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 high of $1.09 prior to closing at $1.05, +0.00% on 624.7k shares of trading volume.

On Aug. 8, Atossa announced their financial results for the fiscal quarter ended June 30, 2022, and provided an update on recent company developments. Dr. Steven Quay, Atossa’s President and Chief Executive Officer stated, “We continue to make steady progress with our Endoxifen programs: one to reduce tumor cell activity in breast cancer patients in the neoadjuvant setting; and another to reduce dense breast tissue in women. Our work on AT-H201 demonstrated valuable outcomes, not the least of which was an understanding of how to pursue its development in the field of oncology. With the 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 cancer patients with compromised lung-function resulting from radiation treatment may fill a compelling unmet medical need and create additional value for our stockholders. Lung injury caused by radiation treatment affects 30-40% of lung cancer patients, and ~35% of esophageal cancer patients. In non-small cell cancer patients receiving concurrent chemotherapy and radiation therapy the incidence of lung injury is estimated to be greater than 60%. As we previously announced, rather than proceeding with Part D of the AT-H201 study in COVID-19 patients, we plan to quickly initiate a clinical study of patients with compromised lung function caused by radiation treatment and we anticipate announcing next steps in the coming months.”

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 $32.65, +.71%.
 
On Aug. 8, Fate Therapeutics announced the publication of preclinical study results demonstrating the successful generation, durable anti-tumor response, and functional persistence of TCR-CAR+ iPSC-derived CD8αβ T cells from induced pluripotent stem cells (iPSCs). The CD8αβ T cells were derived from a single engineered iPSC integrating a novel chimeric antigen receptor (CAR) transgene into the T-cell receptor alpha constant (TRAC) locus, ensuring complete bi-allelic disruption of T-cell receptor (TCR) expression and promoting uniform CAR expression. The discoveries were made under a multi-year research collaboration between the Company and Memorial Sloan Kettering Cancer Center (MSK) led by Michel Sadelain, M.D., Ph.D., Director, Center for Cell Engineering and Head, Gene Expression and Gene Transfer Laboratory, and were published this week in Nature Biomedical Engineering.
 
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 $.3973/share, +1.87%.
 
On Aug. 9, InMed announced the appointment of Nicole Lemerond to its Board of Directors, effective immediately. Nicole Lemerond is a financial executive with over 25 years of experience in investment management, private equity, investment banking and leveraged finance. She has significant experience executing complex transactions, managing diligence processes, raising capital and structuring balance sheets. Throughout her career, Ms. Lemerond has worked with public and private company management teams and boards to increase stakeholder value. She established and led healthcare groups at leading investment firms and has also worked at several large financial institutions, including Lehman Brothers and The Carlyle Group. Ms. Lemerond holds a Bachelor of Science degree from Cornell University and is a CFA charterholder. Contemporaneous with Ms. Lemerond’s appointment, Adam Cutler has decided to transition off the Board of Directors. Mr. Cutler has served on the Board since 2015, during which time his financial and healthcare expertise has been instrumental in advancing the strategic initiatives of the Company. Over the years, Mr. Cutler has served as Chair of the Audit Committee as well as a member Governance and Nomination Committee. Ms. Lemerond will replace Mr. Cutler as a member of the Audit Committee and as a member of the Governance and Nomination Committee.
 
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.
 
 
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, but has traded up to $1.09, +4.81% in the aftermarkets.
 
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 $1.14, -2.65%.  The 52-wk range is $.77-$4.40.

On Aug. 11, Neubase reported its financial results for the three-month period ended June 30, 2022, and other recent developments. Dietrich A. Stephan, Ph.D., Founder, Chief Executive Officer, and Chairman of NeuBase stated, “Thus far in 2022, we have generated new data that strengthens application of the PATrOLTM platform and its potential to output novel genetic medicines that are broadly biodistributed after systemic routes of administration and engage double-stranded nucleic acid targets in the nucleus to resolve gene dysfunction. This includes new PK and biodistribution data for our DM1 development candidate, which were presented at the ASGCT 25th Annual Meeting, that support a differentiated whole-body solution for DM1 patients. The data in each tissue we evaluated also displayed an extended elimination phase with tissue concentrations measurable for at least four weeks following a single intravenous (IV) dose administration and consistent with the durable pharmacology in the transgenic animal models. With these data in hand, we decided to perform additional IND-enabling studies to further characterize our development candidate and confirm our expectations of safety and efficacy. While conducting these additional studies will require us to push our guidance on the timing for our DM1 IND filing to mid-CY2023, patient safety and benefit are of utmost importance to us. We also believe the information that will be generated by these studies will benefit not only our DM1 program but all of our programs and better prepare us to enter the clinic and fulfill our mission of delivering new medicines to patients who currently have no therapeutic options. We continue to generate positive data from other programs in our pipeline, including in HD, that support the ability of the PATrOLTM platform to develop differentiated genetic medicines. We are confident in the ability of our platform and team to advance these drug candidates to clinical trials, and we look forward to providing further updates on our progress.”

As of June 30, 2022, the Company had cash and cash equivalents of approximately $29.8 million, compared with approximately $52.9 million as of September 30, 2021.For the fiscal quarter ended June 30, 2022, total operating expenses were approximately $8.4 million, consisting of approximately $3.6 million in general and administrative expenses and $4.8 million of research and development expenses. This compares with total operating expenses of approximately $8.8 million for the same period last year, consisting of approximately $3.5 million in general and administrative expenses and $5.3 million in research and development expenses.INmune Bio

 

INmune Bio, Inc. (INMB) closed at $9.12, -2.25%.

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 $19.99, -2.54%.

On Aug. 8, Chinook provided a business update and reported financial results for the quarter and six months ended June 30, 2022. “During the second quarter of 2022, we executed well on advancing our pipeline of clinical and preclinical programs for rare, severe chronic kidney diseases. We continue to ramp up enrollment of patients in the phase 3 ALIGN trial for atrasentan, and the data we presented at ERA from the ongoing phase 2 AFFINITY trial of atrasentan demonstrated consistent and clinically meaningful proteinuria reductions in patients with IgAN,” said Eric Dobmeier, president and chief executive officer of Chinook Therapeutics. “For BION-1301, the additional data presented at ERA from the ongoing phase 1/2 trial reaffirms its disease-modifying potential in IgAN by demonstrating durable reductions in mechanistic biomarkers and corresponding impressive proteinuria reductions. We look forward to advancing BION-1301 into a phase 3 study for patients with IgAN in 2023. We are also continuing to make progress with dose escalation in the ongoing phase 1 trial of CHK-336 in healthy volunteers and expect to report data in the first half of 2023.”

Economic Reports

On Tuesday, the Q2 unit labor costs report  confirmed an acceleration to the tune of a 10.8% increase. It was slower than Q1’s 12.7% rate, but nevertheless significant and seems to back the Fed’s possible decision to raise rates again in September to combat inflation. However, it was also determined that a 2.5% drop in nonfarm business sector labor productivity occurred. The July NFIB Small Business Optimism report also confirmed a slightly higher moved to 89.9. 

On Wednesday, the CPI report confirmed that prices had come in lower in June than had been expected, at a 8.5% vs. a 9.1% rise, giving a slimmer of hope that the Fed may need to temper their current speed at which they are raising interest rates. The Weekly MBA Mortgage Applications Index report also confirmed a slight .2% rise & the June Wholesale Inventories report showed a 1.8% increase. 

On Thursday, the July PPI report confirmed that it had fallen .5%, while the core PPI clocked in rising .2%. The Weekly initial jobless claims report also came in higher at 262k, while continuing claims came in at 1.428M. The Weekly EIA Natural Gas Inventories report showed a greater build of 44 bcf.

 

Investing & Inspiration

  1. “Act as if what you do makes a difference. It does.” – William James

  2. “Success – keeping your mind awake and your desire asleep.” – Walter Scott

  3. “If I had to live my life again, I’d make the same mistakes, only sooner.” – Tallulah Bankhead

  4. “When one must, one can.” – Charlotte Whitton

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  35. “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

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

  37. “I am fascinated by what is beautiful, strong, healthy, what is living. I seek harmony.” – Leni Riefenstahl
  38. “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
  39. “Waste no more time arguing about what a good man should be. Be one.” – Marcus Aurelius
  40. “It is during our darkest moments that we must focus to see the light.” – Aristotle Onassis
  41. “Courage is fear holding on a minute longer.” – George S. Patton
  42. “You must be the change you wish to see in the world.” – Mahatma Gandhi
  43. “Don’t judge each day by the harvest you reap but by the seeds that you plant.” – Robert Louis Stevenson 
  44. “It is in the character of very few men to honor without envy a friend who has prospered.” – Aeschylus
  45. “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
  46. “The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey
  47. “Anything simple always interests me.” – David Hockney
  48. “He who angers you conquers you.” – Elizabeth Kenny
  49. “Concision in style, precision in thought, decision in life.” – Victor Hugo
  50. “The secret of genius is to carry the spirit of the child into old age, which means never losing your enthusiasm.” – Aldous Huxley
  51. “View health as an investment, not an expense.” – John Quelch
  52. “The most effective way to do it, is to do it.” – Amelia Earhart
  53. “Man needs his difficulties because they are necessary to enjoy success.” – A. P. J. Abdul Kalam
  54. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha
  55. “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
  56. “You must do the things you think you cannot do.”- Eleanor Roosevelt
  57. “Success is dependent on effort.” – Sophocles
  58. “Nobody who ever gave his best regretted it.” – George Halas
  59. “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
  60. “And when I breathed, my breath was lightning.” – Black Elk
  61. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
  62. “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
  63. “If you want a guarantee, buy a toaster.” – Clint Eastwood
  64. “We are an impossibility in an impossible universe.” – Ray Bradbury
  65. “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
  66. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
  67. Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
  68. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
  69. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
  70. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
  71. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
  72. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
  73. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
  74. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
  75. “There is more to life than increasing its speed.” – Mahatma Gandhi
  76. “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
  77. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
  78. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
  79. “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
  80. “Life is too short for long-term grudges.” – Elon Musk
  81. There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
  82. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
  83. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
  84. “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
  85. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
  86. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
  87. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
  88. “Let there be work, bread, water and salt for all.” – Nelson Mandela
  89. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
  90. “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
  91. “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
  92. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
  93. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
  94. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
  95. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
  96. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
  97. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
  98. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
  99. “Delete the negative; accentuate the positive!” – Donna Karan
  100. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
  101. “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
  102. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
  103. “Everything has beauty, but not everyone sees it.” – Confucius
  104. 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
  105. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
  106. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
  107. “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
  108. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
  109. “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
  110. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
  111. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
  112. “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
  113. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
  114. “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
  115. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
  116. “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
  117. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
  118. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
  119. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
  120. “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
  121. “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
  122. “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
  123. “There is little that can withstand a man who can conquer himself.” – Louis XIV
  124. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
  125. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
  126. “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
  127. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
  128. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
  129. “Never do anything against conscience even if the state demands it.”– Albert Einstein
  130. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
  131. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
  132. “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
  133. “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
  134. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
  135. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
  136. “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
  137. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
  138. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
  139. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
  140. “The secret of getting ahead is getting started.” – Mark Twain
  141. “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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