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Stocks Move Lower To Start Thanksgiving Holiday-Shortened Week – $ADT $DIS $IMGO $MRK $SHC Rise!

By John F. Heerdink, Jr.
Quote of the Day — “The future belongs to those who believe in the beauty of their dreams.” – Eleanor Roosevelt


Happy Monday!

I hope that you had a great first day of the workweek as we swiftly head towards the Thanksgiving holiday.  As for the stock market, investors and traders experienced a ‘turkey’ kind of day where all major indices close in negative territory. Setting the negative tone again today was rhetoric from yet another Fed President, this time our hometown San Francisco’ President Mary Daly, who added her two cents of of impending doom & gloom stating that rates may need to go above 5% and a 75 basis point raise December may yet be in the cards. Oh, she also added this special and negative nugget that “nothing is off the table” referring to the Fed’s fight against inflation. No significant macroeconomic reports came out today and/or are due out tomorrow, but the Minutes from the Federal Reserve’s November rate-setting meeting will be served up Wednesday. Today’s yield curve rose as the 10-yr note moved up to close at 3.833% and the 2-yr note moved up to close 4.557%. The US dollar index edged higher by .85% to close at 107.84. Oil prices were volatile today as reports that that OPEC+ was reportedly going to increase output surfaced then was dismissed, leaving prices .42% lower at $79.64/bbl. Stories that China has seen their first deaths (in a few months) related to COVID and simultaneous growth concerns rose up again along with the fear that their zero-COVID policy would resurface too. 

In turn, the major indices ended lower across the board with the S&P 500 closing at 3,949.94 (-.39%) with 4 of the 11 sectors closing in the red. The consumer staples sector moved up 1% to lead all as the consumer discretionary and energy sectors both closed 1.4% lower to bring up the tail end. The Dow 30 continued to fair relatively well, but still lower, as it closed at 33,700.28 (-.13%) as Dow component and heavily weighted tech giant Apple (AAPL) moved down to close at $148.01, -2.17% & Disney (DIS) jumped into the close at 97.58, +6.3% as Disney announced that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately. Mr. Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney’s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term. Mr. Iger succeeds Bob Chapek, who has stepped down from his position. The Nasdaq took a solid hit and closed at 11,024.51 (-1.09%). The small caps on the Russell 2000 closed down at 1,839.14 (-.57%). The MicroCaps also closed down as the iShares Micro-cap ETF (IWC) closed at $110.80, down .70%. CBOE Volatility Index (^VIX) closed down by 3.29% at $22.36 as it traded within the range of $22.30 – $23.73. 

Biotech stocks on the lower end of the spectrum moved sharply lower as the SPDR S&P Biotech ETF (XBI) closed off 1.41% to close at $79.87. The 52-wk range is $61.78 – $122.66. The iShares Biotechnology ETF (IBB) also moved lower to close at $133, -.55%. The 52-range is $104.29 – $158.43. However positive news came from Merck (MRK, $105.61, +1.32%), known as MSD outside the United States and Canada, and Imago BioSciences, Inc. (IMGO, $35.59, +104.54%) today announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Imago for $36 per share in cash for an approximate total equity value of $1.35 billion. Robert M. Davis, president and chief executive officer, Merck stated, As suggested, please keep an eye on this sector as mergers, acquisitions, larger public offerings and private placements and a recent and decently sized IPO are beginning to paint a brighter and different picture in ‘biotech land’ as we head towards the new year and the JPMorgan Healthcare Conference in San Francisco will headline once again. 

The iShares U.S. Healthcare ETF (IYH) closed at $280.07, +.03%.  

Around the crypto and precious metals’ tree, Bitcoin (BTC) fell again by 4.10% at $15,608.68 over the last 24-hours at the time of this writing. Gold prices closed at $1,742/oz., -$12/oz. & silver closed at $20.89/oz., -$.09/oz. on the day. Two mining producers closed the day as follows: Hecla Mining Company (HL) closed at $4.80, -2.64% and First Majestic Silver Corp. (AG) closed at $9.12, +.51%. On Nov. 1, First Majestic Silver Corp. announced positive drilling results from its ongoing exploration program at the Jerritt Canyon Gold Mine located in Elko County, Nevada. The 2022 drilling campaign at Jerritt Canyon consists of short-term focused underground core drilling testing extensions of known ore controls near active mining; mid-term focused drilling planned to validate/test the presence of mineralized volumes near historic workings; and long-term focused drilling aiming to make new gold discoveries in the district.

Dell Technologies (DELL), Dick’s Sporting Goods (DKS), Dollar Tree (DLTR), HP (HPQ), & Nordstrom (JWN) are due to release their earnings during this holiday shortened trading week. 


 

FURTHER AFIELD

Shares of Sotera Health Company (SHC), a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry, closed up 32.89% to close at $8. In response to numerous inquiries, Sterigenics®, a business of Sotera Health, and a global leader in comprehensive sterilization services, today issued the following statement regarding the verdict in favor of the Company in the Fornek trial: “On November 18, 2022, the Fornek trial concluded, and the jury rendered a defense verdict in favor of Sotera Health LLC, Sterigenics U.S., LLC and their co-defendant and not awarding plaintiff Teresa Fornek any compensatory or punitive damages. Ms. Fornek retains her right to contest the judgment through post-trial motions and appeals. We believe the jury’s verdict in this matter reflects the jury’s careful consideration and understanding of the science and other evidence presented at trial. Sterigenics remains committed to our mission of Safeguarding Global Health®. As we have done consistently throughout our history, we will continue to operate in compliance with applicable rules and regulations to ensure the safety of our employees, the communities in which we operate and patients around the world.”

On Nov. 2, SHC announced financial results for the third quarter and first nine months of 2022. SHC highlighted Q3 2022 net revenues of $249M increased 10%, compared to Q3 2021, Q3 2022 net income of $25 million or $0.09 per diluted share, compared to net income of $27 million or $0.10 per diluted share in Q3 2021, & Q3 2022 Adjusted EBITDA of $125 million increased 7%, compared to Q3 2021.

Shares of ADT Inc. (ADT), the most trusted brand in smart home and small business security, closed at $8.96, +.11%. On Nov. 3, ADT, announced its results for the third quarter of 2022. They highlighted Total revenue of $1.6 billion, up 22% or 8% excluding Solar, and end-of-period Recurring Monthly Revenue (RMR) of $372 million, up 4%, Record high customer retention with gross customer revenue attrition at 12.6%, Record revenue payback of 2.1 years, & GAAP net loss of $122 million, or a loss of $(0.13) per diluted share, down $13 million. The board of ADT announced that it will pay a dividend of $.035.share on the 4th of January or 1.6% yield.

Memes stock GameStop Corp. (GME) closed at $25.16, -8.84% as shorts won the ongoing daily battle today. Note that approx. 20% of GME’s outstanding shares are sold short landing it with a short interest ratio of 7.6. On October 31, GameStop Corp. announced the official launch of the GameStop NFT Marketplace with ImmutableX Pty Limited, which unlocks access to web3 games and millions of world-class, NFT gaming assets to tens of millions of GameStop players and GameStop Powerup Pro loyalty customers across the United States.

Shares of AMC (AMC and APE), the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 950 theaters and 10,500 screens across the globe, moved down by 4.22% to close at $7.27and APE closed at $1.27, -7.97%. On Nov. 8, AMC reported results for the third quarter ended September 30, 2022. Total revenues grew to $968.4 million compared to $763.2 million for the third quarter of 2021.

Shares of Seanergy Maritime Holdings Corp. (SHIP), the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels, closed flat at $.49. 


VP WATCHLIST UPDATES 
 
Shares of Apple (AAPL) closed at $148.01, -2.17%. Apple enjoys a 6.82% weighting in the S&P 500. On Nov. 15, Apple announced its groundbreaking safety service Emergency SOS via satellite is now available to customers in the US and Canada. Available on all iPhone® 14 models, the innovative technology enables users to message with emergency services while outside of cellular and Wi-Fi coverage.


 
 
tesla
 
EV giant Tesla (TSLA) fell 6.84% to close at $167.87. Not a great day today, Nov. 21, for Tesla as it issued its 19th recall of 2022, this time over a tail light problem, China worries persisted over COVID-19 lockdown concerns ands asa oil drops again. 

 
The Walt Disney Company (DIS) closed at $97.57, +6.29%. On Nov. 21,  Disney announced that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately. Mr. Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney’s CEO for two years, with a mandate from the Board to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term. Mr. Iger succeeds Bob Chapek, who has stepped down from his position.
 
 
Atossa Therapeutics (ATOS), a clinical-stage biopharmaceutical company seeking to develop innovative medicines in areas of significant unmet medical need in oncology with a current focus on breast cancer and lung injury caused by cancer treatments, rose to an intraday high of $.79 prior to closing at $.7647, -4% on 337,309 shares of trading volume.

On Nov. 7 after the close, Atossa announced its financial results for the fiscal quarter ended September 30, 2022, and provided an update on recent company developments. Atossa is a clinical-stage biopharmaceutical company seeking to develop innovative medicines in areas of significant unmet medical need in oncology with a current focus on breast cancer and lung injury caused by cancer treatments. Key developments from Q3 2022 and to date included:

  • Received FDA authorization from FDA to initiate its Phase 2 study of neoadjuvant (Z)-endoxifen in premenopausal women with ER+/HER2- breast cancer.
  • Invested in a privately-held Dynamic Cell Therapies, a company focused on CAR-T therapies as an important step in pursuing its strategy to develop CAR-T therapies or adjacent opportunities within the immuno-oncology space.
  • Completed dosing in both Part B and Part C (of four parts) of Phase 1/2a Clinical Trial of AT-H201 in healthy volunteers, which the Company is now developing for patients with compromised lung function due to the damaging effects of cancer treatment.

“We continue to make progress with our (Z)-endoxifen programs. In particular, our Phase 2 study of neoadjuvant (Z)-endoxifen for pre-menopausal women with ER+/HER2- breast cancer was authorized by FDA to begin in the United States, and we plan to initiate the study during the fourth quarter of this year. We are re-aligning our strategy to address new avenues in the field of oncology. We have altered our approach to the development of AT-H201 in cancer patients with compromised lung-function resulting from cancer treatment, and are beginning to explore the possibility of pursuing immune-oncology programs. In the meantime, we will continue our current programs and will provide progress updates as they become available,” commented Dr. Steven Quay, Atossa’s President and Chief Executive Officer.

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 Nov. 7, Fate Therapeutics (FATE, $19.64,-1.16%) announced that ONO Pharmaceutical Co., Ltd. (ONO) has exercised its option to FT825/ONO-8250, a multiplexed-engineered, iPSC-derived, chimeric antigen receptor (CAR) T-cell product candidate targeting human epidermal growth factor receptor 2 (HER2)-expressing solid tumors. The preclinical product candidate incorporates multiple functional elements to enhance the activity and overcome unique challenges in treating solid tumors with cell-based cancer immunotherapies. “We are encouraged by the compelling preclinical data package generated for FT825/ONO-8250 under our collaboration, which combines the antigen binder that ONO provides and Fate’s industry-leading iPSC product platform to overcome the challenges in solid cancer treatment,” said Toichi Takino, Senior Executive Officer / Executive Director, Discovery & Research of ONO. “We look forward to initiating clinical development of the off-the-shelf, iPSC-derived CAR T-cell product candidate with the aim of delivering benefit to patients with some of the most difficult to treat cancers.”
 
On November 3, Fate ($19.68, -.81%) reported business highlights and financial results for the third quarter ended September 30, 2022 with  Cash, cash equivalents and investments as of September 30, 2022 were $519.1 million. Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics stated, “We are very pleased with the positive feedback from the FDA under our FT516 RMAT designation in support of our iPSC product platform and potential registrational pathways for the treatment of relapsed / refractory aggressive lymphomas, including for patients who have previously failed CD19-targeted CAR T-cell therapy, and we look forward to engaging the FDA in the fourth quarter to discuss CMC topics in support of pivotal trial readiness. We are also excited to present interim Phase 1 clinical data at the upcoming SITC and ASH conferences, including for our iPSC-derived CAR NK cell programs FT576 in multiple myeloma and FT536 in solid tumors as well as for the first-ever iPSC-derived CAR T-cell program FT819 in B-cell lymphoma. Finally, under our collaboration with Janssen, we are pleased to announce our first IND candidate FT555, a multiplexed-engineered, iPSC-derived CAR NK cell targeting GPRC5D for multiple myeloma, and that Janssen has also exercised its commercial option to an additional product candidate targeting an undisclosed hematologic malignancy antigen.”
 
 
 
 

The multi-billion-dollar global fertility market is predicted to reach approximately US$47.9 billion by 2030, yet remains severely underserved with many patients (upwards of 90% by many estimates) unable to access affordable treatment. INVO Bioscience, Inc. (NASDAQ: INVO) offers the INVOcell solution which provides an advanced, effective and affordable infertility treatment to help increase access to care. INVO is commercially advancing INVOcell through the opening of INVO Centers, opportunistically now pursuing acquisitions of established fertility (IVF) clinics in the U.S., and continuing to offer the technology to existing fertility practices. Shares of INVO Bioscience closed at $1.12 and has traded up to $1.23, +9.82% in the aftermarket. 

On Monday, November 14, INVO announced financial results for the third quarter ended September 30, 2022 and provided a business update. Revenue (excluding license revenue) was $235,321 compared to $40,303 in the third quarter of the prior year, an increase of 484% and up 61% sequentially compared to the second quarter of 2022. Clinic revenue increased to $176,395, or 370%, compared to the same period last year, and was up 57% sequentially compared to Q2 2022. All reported clinic revenue is derived from the Company’s Atlanta, Georgia-based INVO Center which is consolidated in the financial statements. Revenue from clinics, inclusive of both those accounted for as consolidated and under the equity method, was $450,131, an increase of 1,100% compared to last year and up 111% sequentially compared to the second quarter of 2022. Product sales increased to $58,926 during Q3 2022, an increase of 2,012% compared to the same quarter last year and were up 74% sequentially compared to the second quarter of 2022. INVO has completed due diligence on the previously announced fertility clinic acquisition target and is working to finalize definitive agreements.

On Nov. 1, INVO announced a successful showcasing of INVOcell at last week’s 2022 Scientific Congress & Expo of the American Society for Reproductive Medicine (ASRM) held on October 22-26, 2022 in Anaheim, California. INVO highlighted the following: 1) The multi-billion-dollar global fertility market is predicted to reach approximately US$47.9 billion by 2030, yet remains severely underserved with many patients (upwards of 90% by many estimates) unable to access affordable treatment,  2) The INVOcell solution provides an advanced, effective and affordable infertility treatment to help increase access to care, & 3) INVO Is commercially advancing INVOcell through the opening of INVO Centers, opportunistically now pursuing acquisitions of established fertility (IVF) clinics in the U.S., and continuing to offer the technology to existing fertility practices. Steve Shum, CEO of INVO Bioscience stated,  “INVO’s cumulative progress over the past two years, on both the commercial front as well as additional real world patient outcomes data, allowed us to further highlight our innovative INVOcell solution at last week’s ASRM conference. It was clear at this year’s annual conference that INVOcell’s presence in the marketplace is growing, and our expanded commercial approach is attractive. Our business development team engaged in a number of productive discussions with interested parties at the conference revolving around our commercial efforts toward providing INVOcell to existing clinics, opening our own INVO Centers, and now selectively acquiring existing fertility practices. We believe the strategy to acquire established fertility clinics in the U.S. complements our existing INVO Center strategy and will allow us to accelerate our growth plans and help expand the use of INVOcell. Potential acquisitions of established profitable fertility clinics in the U.S. represents a logical extension of our strategy. We believe the ASRM conference provided a great opportunity to further communicate our overall progress and technology achievements as well as our unique commercial approach toward helping to democratize fertility care.”

On Oct. 21, INVO Bioscience announced the publication of a review discussing existing literature and current use of intravaginal culture (IVC) as an option for patients seeking fertility therapies. The review, titled “Intravaginal embryo culture: a successful alternative to standard IVF that may improve access to care,” by Dr. Amber R. Cooper was published in the Current Opinion in Obstetrics and Gynecology. Findings included that Intravaginal culture (IVC) of embryos is a successful and well-tolerated option for many patients & IVC has similar outcomes when compared to standard IVF with or without ICSI. Findings included: Intravaginal culture (IVC) of embryos is a successful and well-tolerated option for many patients & IVC has similar outcomes when compared to standard IVF with or without ICSI. A copy of the publication is available at:Intravaginal embryo culture: a successful alternative to standard IVF that may improve access to care.

 
On September 29th, a study, titled “Comparison of Treatment Outcomes among Sibling Oocytes Using Different Culture Systems—Conventional IVF versus INVOcell Device—And Evaluation of INVOcell User Satisfaction: The INVOcIVF Study,” was published in the International Journal of Environmental Research and Public Health. The study was conducted by Advanced Reproductive Centre (ARC), at Hospital Canselor Tuanku Muhriz (HCTM), at the National University of Malaysia, from January 2021 to January 2022. Here’s a link to the study “Comparison of Treatment Outcomes among Sibling Oocytes Using Different Culture Systems—Conventional IVF versus INVOcell Device—And Evaluation of INVOcell User Satisfaction: The INVOcIVF Study.”
 
Key findings of the study included:

• The fertilization rate and good embryo quality were comparable (not significantly different) between INVOcell and cIVF.
• Although both methods produce similar fertilization rates and good-quality embryos, the blastulation rates were better in the INVOcell group.
• INVOcell can be used as an alternative method for reproductive treatment in carefully selected patients without jeopardizing outcomes.
• cIVF is costly and not applicable in most rural and district areas, therefore, the INVOcell can be utilized as a cost-effective alternative to cIVF without sacrificing comfort and outcomes.
 
 
***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. 
 

Shares of Chinook Therapeutics, Inc. (KDNY), a biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, closed at $20.28, -4.88%.

On Nov. 10, Chinook provided a business update and reported financial results for the quarter and nine months ended September 30, 2022. “During the third quarter of 2022, we continued advancing our pipeline of clinical and preclinical programs for rare, severe chronic kidney diseases. We are pleased with the strong data presented at ASN Kidney Weekend 2022 from both our lead programs, atrasentan and BION-1301, in IgA nephropathy (IgAN), as well as from CHK-336 and our preclinical research approach,” said Eric Dobmeier, president and chief executive officer of Chinook Therapeutics. “We look forward to 2023, when we plan to initiate a phase 3 study of BION-1301 in patients with IgAN, present data from the ongoing phase 1 clinical trial of CHK-336 in healthy volunteers in the first half and report topline proteinuria data from the ongoing phase 3 ALIGN study of atrasentan in the third quarter.”


Shares of Borqs Technologies, Inc. (BRQS) closed at $.47. Borqs Technologies is a global leader in software and products for the IoT, providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio. Borqs’ unique strengths include its Android and Android Wear Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage and system performance optimization, suitable for large and low volume customized products, and is also currently in development of 5G products for phones and hotspots. The Company acquired controlling shares of the solar energy storage system entity, Holu Hou Energy LLC, in October 2021.

  • On Nov. 4, Borqs announced its subsidiary, Holu Hou Energy (HHE), has rolled out its next generation HoluPower xP energy storage system. The product is the first system capable of economically addressing the Multi-Dwelling Unit Residential market through EnergyShare, a unique application and advantage, enabling networked systems to share excess generation behind their respective utility meters. This has been a game-changer for improving the project economics for the MDU market, including for low-income housing, rental property units and Home Owners Association managed properties. EnergyShare enables more energy to be delivered to load, and fewer batteries needing to be installed than the standard approach of unit-by-unit installation.
  • On Sept 20, Borqs announced its solar energy storage subsidiary, Holu Hou Energy LLC (HHE), had signed a power purchase agreement (PPA) with Kapolei Diversified Properties, LLC to deliver energy to Luhauola, a new mixed-use development in Kapolei, on the island of Oahu, Hawaii. The property includes 10,000 square feet of commercial space, plus outdoor dining for local food establishments. The residential portion of the property includes 29 workforce housing rental apartments. U.S. Energy Information Administration data shows oil generated about two-thirds of Hawaii’s electricity in 2021. That makes Hawaii the most petroleum-dependent state.


Brad Hansen, CEO of Holu Hou Energy

“Our products and services are improving the lives of customers every day by delivering cheaper, cleaner and more reliable electricity, including to those living in Multi-Dwelling Unit residential housing,” stated Brad Hansen, CEO of Holu Hou Energy. “We look forward to building on our Hawaii leadership position and bringing this same energy independence to markets like California in the near future. The cost of utility electricity in Hawaii has risen by about 60% over the last 18-months, with residential rates being at a historical high of around $0.50/kWh. Reliance on fuel oil for a significant part of Hawaii’s power generation means that these unprecedented rates are not likely to abate soon. HHE brings the most safe and productive solar and energy storage solutions to customers, including to those in income brackets not historically able to have their energy needs met by renewables.”


  • U.S. Energy Information Administration data shows oil generated about two-thirds of Hawaii’s electricity in 2021. That makes Hawaii the most petroleum-dependent state.
  • On July 15, Borqs Technologies announced that its majority owned solar energy storage systems subsidiary, Holu Hou Energy LLC (“HHE”), has signed agreement with Honokea Villages to deliver a major renewable energy generation and storage system to Honokea’s planned ecological sports training and Hawaiian Cultural facility in their “ahupua’a”, or local community. The development will have Olympic calibre training facilities for surfing, sport climbing, kayaking, beach volleyball, and more, and will serve as tool to celebrate athletics in Hawaii. The renewable energy system will feature over 3 MW of PV generation and over 4 MWh of energy storage, enough to power 100% of the operations of the facility, and will be financed under a 20-year power purchase agreement, or PPA. The system provided by HHE will begin construction in 2023 and its value is estimated at nearly $20M. This project is included in the $49.8 million of Q2 2022 signed contracts announced earlier this month. Honokea Villages was co-founded by Brian Keaulana in 2011 to address the need for Hawaiian Surf Culture to be incorporated into, what was at the time, the fledgling surf park industry. Now 11 years later there are 100+ surf parks being planned around the world with names like Kelly Slater and in places as foreign as Switzerland. “Honokea aims to ensure Hawaiian Culture is incorporated into every aspect of the planning of the family destination: excellence in sports, sustainability, arts and culture. It’s a place for the whole family that’s truly designed to benefit our community in as many ways as possible especially on our side of the island,” says Keaulana.



Shares of InMed Pharmaceuticals Inc. (INM), a leader in the research, development and manufacturing of rare cannabinoids, closed at $2.59.


  • On Nov. 17, Tribe Public’s Webinar Presentation and Q&A Event was co-hosted by Eric A. Adams, CEO & Eric C. Hsu, PhD, Senior Vice President, Pre-Clinical Research & Development of InMed Pharmaceuticals (NASDAQ: INM. They delivered a presentation titled “Exploring The Neuroprotective Qualities of Rare Cannabinoids”& addressed a Q&A session at the end of the presentation. You may now watch the event video art the Tribe Public YouTube Channel at this link
  • On Nov. 16, InMed announced the launch of its neurodegenerative disease program (INM-900 series), which will be investigating the effects of cannabinoid analogs in diseases such as Alzheimer’s, Huntington’s and Parkinson’s. In research conducted to date, InMed has identified two cannabinoid analogs demonstrating promising effects related to the treatment of neurodegenerative diseases, warranting further investigation in in vivo studies. InMed will be conducting studies using in vivo models in neurodegenerative disease to select the most appropriate candidate for clinical studies. Early preclinical efficacy readout is expected in 2Q 2023. In addition, Dr. Ujendra Kumar of the faculty of Pharmaceuticals Sciences at UBC has been awarded an Alliance grant from NSERC, with InMed as the named industry partner. The funding will support the research and development studies of InMed’s cannabinoid pharmaceutical candidates, investigating their potential therapeutic effects in neurodegenerative diseases. The collaboration project is entitled “Pharmacological characterization of phytocannabinoids and the endocannabinoid system.”

    InMed’s Senior Vice President of Preclinical Research & Development, Eric Hsu, Ph.D., commented, “We are pleased that our efforts have led to the identification of two cannabinoid analog candidates to advance to in vivo studies. Our team will continue this important research in neurodegenerative diseases under the NSERC Alliance grant. Our early studies are showing promising neuroprotective effects as well as neurite outgrowth, signifying the potential to enhance neuronal function that may be important in the treatment of neurodegenerative diseases. This program, in conjunction with the work we are doing within glaucoma, increases our focus on, and expands our pipeline within, the neuroprotection space.”


Markets

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Big Movers

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Bond Markets & US Dollar

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Economic Reports

On Tuesday, the November Empire State Manufacturing report came in at 4.5 & the Producer Price Index for final demand report or PPI, which was up 8% Y/Y, but down from the 8.4% mark that was it set in September denoting a some form of disinflation.

On Wednesday, the October Retail Sales report showed a rise of 1.3%. The weekly MBA Mortgage Applications Index report also confirmed 2.7% increase, but the October Industrial Production report showed  -.1% drop.

Agriculture & Energy

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Biotech & Healthcare

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Consumer Goods & Trends

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Financials & Fintech

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Materials & Natural Resources

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Technology & Beyond

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Investing & Inspiration

  1. “The future belongs to those who believe in the beauty of their dreams.” – Eleanor Roosevelt
  2. “Never go to bed mad. Stay up and fight.” – Phyllis Diller
  3. “The undertaking of a new action brings new strength.” – Richard L. Evans
  4. “It’s kind of fun to do the impossible.” – Walt Disney
  5. “Real riches are the riches possessed inside.” – B. C. Forbes
  6. “Reject your sense of injury and the injury itself disappears.” – Marcus Aurelius
  7. “It is not enough to have a good mind; the main thing is to use it well.” – Rene Descartes
  8. “A leader is one who knows the way, goes the way, and shows the way.” – John C. Maxwell
  9. “It takes an endless amount of history to make even a little tradition.” – Henry James”It’s not what you pay a man, but what he costs you that counts.” – Will Rogers
  10. “Halloween is not only about putting on a costume, but it’s about finding the imagination and costume within ourselves.” – Elvis Duran
  11. “Everything in the world may be endured except continual prosperity.” – Johann Wolfgang von Goethe
  12. “Where is all the knowledge we lost with information?” – T. S. Eliot
  13. “All I ask is the chance to prove that money can’t make me happy.” – Spike Milligan
  14. “Out of difficulties grow miracles.” – Jean de la Bruyere
  15. “Nine-tenths of wisdom is being wise in time.” – Theodore Roosevelt
  16. “Time is money.” – Benjamin Franklin
  17. “I can, therefore I am.” – Simone Weil
  18. “Where there is no vision, there is no hope.” – George Washington Carver
  19. “Greatness is a road leading towards the unknown.” – Charles de Gaulle
  20. “Kind words do not cost much. Yet they accomplish much.” – Blaise Pascal
  21. “The world is round so that friendship may encircle it.” – Pierre Teilhard de Chardin
  22. “Our deeds determine us, as much as we determine our deeds.” – George Eliot
  23. “The greatest use of a life is to spend it on something that will outlast it.” – William James
  24. Happiness is not something ready made. It comes from your own actions.” – Dalai Lama
  25. “If opportunity doesn’t knock, build a door.” – Milton Berle

  26. “I would define, in brief, the poetry of words as the rhythmical creation of Beauty.” – Edgar Allan Poe
  27. “There are people who have money and people who are rich.” – Coco Chanel
  28. “The young man knows the rules, but the old man knows the exceptions.” – Oliver Wendell Holmes, Sr.
  29. “The past always looks better than it was. It’s only pleasant because it isn’t here.” – Finley Peter Dunne
    “With the new day comes new strength and new thoughts.” – Eleanor Roosevelt
    “Give me the luxuries of life and I will willingly do without the necessities.” – Frank Lloyd Wright
    “To begin, begin.” – William Wordsworth
    “You can find peace amidst the storms that threaten you.” – Joseph B. Wirthlin
    “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
    “Whenever you find yourself on the side of the majority, it is time to pause and reflect.” – Mark Twain
    “Adapt or perish, now as ever, is nature’s inexorable imperative.” – H. G. Wells
    “Won’t be long before we view gasoline cars the same way we view steam engines today.” – Elon Musk
    “The aim of life is to live, and to live means to be aware, joyously, drunkenly, serenely, divinely aware.” – Henry Miller
    “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare“Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas A. Edison“Experience is one thing you can’t get for nothing.” – Oscar Wilde
    “Any sufficiently advanced technology is indistinguishable from magic.” – Arthur C. Clarke
    “Good questions outrank easy answers.” – Paul Samuelson
    “Thinking: the talking of the soul with itself.” – Plato
    “I don’t think of all the misery but of the beauty that still remains.” – Anne Frank
    “All money is a matter of belief.” – Adam Smith
    “People are not disturbed by things, but by the view they take of them.” – Epictetus
    “Uncertainty is seen to retard investment independently of considerations of risk or expected return.” – Ben Bernanke
    “I never called my work an ‘art’. It’s part of show business, the business of building entertainment.” – Walt Disney
    “Hitch your wagon to a star.” – Ralph Waldo Emerson
    “The greatest remedy for anger is delay.” – Lucius Annaeus Seneca
    “Great minds discuss ideas; average minds discuss events; small minds discuss people.” – Eleanor Roosevelt
    “Act as if what you do makes a difference. It does.” – William James
    “Success – keeping your mind awake and your desire asleep.” – Walter Scott
    “If I had to live my life again, I’d make the same mistakes, only sooner.” – Tallulah Bankhead
    “When one must, one can.” – Charlotte Whitton
    “Wealth consists not in having great possessions, but in having few wants.” – Epictetus
    “If we open a quarrel between past and present, we shall find that we have lost the future.” – Winston Churchill
    “Hope is patience with the lamp lit.” – Tertullian
    “A single sunbeam is enough to drive away many shadows.” – Francis of Assisi
    “With the past, I have nothing to do; nor with the future. I live now.” – Ralph Waldo Emerson
    “Laziness may appear attractive, but work gives satisfaction.” – Anne Frank
    “I never think of the future – it comes soon enough.” – Albert Einstein
    Hope is but the dream of those who wake.” – Matthew Prior
    “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul
    “Real knowledge is to know the extent of one’s ignorance.” – Confucius
    “Better keep yourself clean and bright; you are the window through which you must see the world.” – George Bernard Shaw
    “Nothing great in the world has ever been accomplished without passion.” – Georg Wilhelm Friedrich Hegel
    “History is a vast early warning system.” – Norman Cousins
    “We first make our habits, and then our habits make us.” – John Dryden
    “The traveler sees what he sees, the tourist sees what he has come to see.” – Gilbert K. Chesterton
    “Adventure is worthwhile.” – Aesop
    “We must build dikes of courage to hold back the flood of fear.” – Martin Luther King, Jr.
    “The return we reap from generous actions is not always evident.” – Francesco Guicciardini
    “Courage is knowing what not to fear.” – Plato
    “Science may never come up with a better office communication system than the coffee break.” – Earl Wilson
    “Progress was all right. Only it went on too long.” – James Thurber
    “If you would know strength and patience, welcome the company of trees.” – Hal Borland
    “We aim above the mark to hit the mark.” – Ralph Waldo Emerson
    “Hope is being able to see that there is light despite all of the darkness.” – Desmond Tutu
    “Our chief want is someone who will inspire us to be what we know we could be.” – Ralph Waldo Emerson
    “Patience is a virtue, and I’m learning patience. It’s a tough lesson.” – Elon Musk
    “Great things are done when men and mountains meet.” – William Blake
    “The man who has no imagination has no wings.” – Muhammad Ali
    “Formula for success: rise early, work hard, strike oil.” – J. Paul Getty
    “Action is the foundational key to all success.” – Pablo Picasso
    “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
    “There are no shortcuts in evolution.” – Louis D. Brandeis
    “I am fascinated by what is beautiful, strong, healthy, what is living. I seek harmony.” – Leni Riefenstahl
    “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
    “Waste no more time arguing about what a good man should be. Be one.” – Marcus Aurelius
    “It is during our darkest moments that we must focus to see the light.” – Aristotle Onassis
    “Courage is fear holding on a minute longer.” – George S. Patton
    “You must be the change you wish to see in the world.” – Mahatma Gandhi
    “Don’t judge each day by the harvest you reap but by the seeds that you plant.” – Robert Louis Stevenson
    “It is in the character of very few men to honor without envy a friend who has prospered.” – Aeschylus
    “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
    “The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey
    “Anything simple always interests me.” – David Hockney
    “He who angers you conquers you.” – Elizabeth Kenny
    “Concision in style, precision in thought, decision in life.” – Victor Hugo
    “The secret of genius is to carry the spirit of the child into old age, which means never losing your enthusiasm.” – Aldous Huxley
    “View health as an investment, not an expense.” – John Quelch
    “The most effective way to do it, is to do it.” – Amelia Earhart
    “Man needs his difficulties because they are necessary to enjoy success.” – A. P. J. Abdul Kalam
    “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha
    “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
    “You must do the things you think you cannot do.”- Eleanor Roosevelt
    “Success is dependent on effort.” – Sophocles
    “Nobody who ever gave his best regretted it.” – George Halas
    “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
    “And when I breathed, my breath was lightning.” – Black Elk
    “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
    “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
    “If you want a guarantee, buy a toaster.” – Clint Eastwood
    “We are an impossibility in an impossible universe.” – Ray Bradbury
    “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
    “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
    “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
    “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
    “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
    Surprise is the greatest gift which life can grant us.” – Boris Pasternak
    “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran
    “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
    “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
    “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” – Colin Powell
    “There is more to life than increasing its speed.” – Mahatma Gandhi
    “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
    “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
    “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
    “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
    “Life is too short for long-term grudges.” – Elon Musk
    “There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
    “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
    “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
    “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
    “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
    “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
    “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
    “Let there be work, bread, water and salt for all.” – Nelson Mandela
    “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
    “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
    “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
    “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
    “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
    “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
    “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
    “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
    “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
    “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
    “Delete the negative; accentuate the positive!” – Donna Karan
    “It’s crazy how fast time flies and how things progress.” – Nathan Chen
    “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
    “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
    “Everything has beauty, but not everyone sees it.” – Confucius
    “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
    “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
    “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
    “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
    “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
    “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
    “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
    “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
    “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
    “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
    “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
    “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
    “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
    “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
    “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
    “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
    “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
    “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
    “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
    “There is little that can withstand a man who can conquer himself.” – Louis XIV
    “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
    “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
    “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
    “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese
    “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
    “Never do anything against conscience even if the state demands it.”– Albert Einstein
    “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
    “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
    “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
    “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
    “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
    “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
    “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
    “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
    “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch
    “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
    “The secret of getting ahead is getting started.” – Mark Twain
    “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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