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Stocks See Broad-based Rally On Thursday – $AAPL $ATOS $FATE $GME $INVO $RIVN $TSLA $Rise!

By John F. Heerdink, Jr.
Quote of the Day “We must build dikes of courage to hold back the flood of fear.” – Martin Luther King, Jr.
 

The stock market experienced a good ‘ole fashioned broad-based rally today as 10 of the 11 sectors closed in the green and the major indices all eclipsed 1%, growth stocks skyrocketed forward. The S&P 500 closed at 3,902.62 (+1.50%). The energy sector led all sectors with a 3.5% move on the strong shoulders of oil prices which bounced 4% to close at $102.68/bbl. The utilities sector was the only sector to close down ticking lower slightly by.1% The Dow ended the session higher at 31,384.55 (+1.12%). Showing particular strength the Nasdaq closed at 11,621.35 (+2.28%). The Nasdaq and the NYSE simultaneously saw advancers outpace the decliners by a margin of 3-1.

Interestingly, the small caps on the Russell 2000 realized an even greater move as it closed at an 1,769.60 (+2.43%).  Not to be outdone the MicroCaps also closed higher across the board as the iShares Micro-Cap ETF (IWC) closed at $109.18, +2.60%. Biotech stocks also traded nicely higher. The SPDR S&P Biotech ETF (XBI) closed at $83.46, +3.02%. The 52-wk range is now $61.78 – $141.50. The iShares Biotechnology ETF (IBB) closed at $125.82, +2.47%. The 52-range is $105.38 – $177.37. Semiconductor stocks also saw a strong move as the PHLX Semiconductor Index closing up 4.5%.

Nothing in particular produced the widespread move today, the macroeconomic schedule provided a number of reports including the Weekly Initial Claims report, which confirmed a 235,000 number, while the Weekly Continuing Claims reports confirmed 1.375M, with both showing little change.  The May Trade Balance case in at $85.5B, the oil inventories grew by 8.24M barrels, gasoline inventories decreased by 2.5M barrels

The yield curve jumped higher, but remained inverted. The 2-yr treasury yield closed up 9 basis points at 3.03%, while the 10-yr yield moved up basis points to close at 3.01%. A decent measure of the markets volatility or the CBOE Volatility Index (^VIX) closed at $26.08, closing down 2.43% and traded within the range of $25.66 – $26.49.

Around the money and precious metals’ tree, the U.S. Dollar Index closed at 107.04, -.06% & Bitcoin (BTC) move higher again to $21.636.49, +5.12% over the last 24-hours at the time of this writing.  Gold prices closed at $1,741/oz., +$0.00/oz. & silver closed at $19.25/oz., +$.04/oz. on the day. Two mining producers closed the day as follows:  Hecla Mining Company (HL) closed at $3.75, +3.88% and First Majestic Silver Corp. (AG) closed at $7.14, 4.23%. On July 5, Hecla Mining and Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) announced a definitive agreement for Hecla to acquire all of the outstanding common shares of Alexco that Hecla does not already own. Each outstanding common share of Alexco will be exchanged for 0.116 of a share of Hecla common stock implying consideration of US$.47 per Alexco common share and a premium of 23% based on the companies’ 5-day volume weighted average price on the NYSE and NYSE American on July 1, 2022. In addition, Hecla will (i) provide interim financing to provide working capital and ensure the development and exploration at Keno Hill continues to be advanced and (ii) subscribe for additional common shares bringing its ownership stake to 9.9%. Hecla has also entered into an agreement with Wheaton Precious Metals Corporation (WPM) to terminate its silver streaming interest at Alexco’s Keno Hill property in exchange for US$135 million of Hecla common stock conditional upon the completion of Hecla’s acquisition of Alexco. 

 

FURTHER AFIELD 
 
Memes stock, GameStop Corp. (GME, $135.12, 15.06%) after their July 6 announcement that confirmed a 4-1 stock split in the form of a dividend for shareholders of record at the close of business on July 18. However, the stock has dropped ~ 5% in the aftermarket after announcing the CFO’s departure and layoffs. 
 

Irvine based Rivian Automotive, Inc.  (RIVN, $31.63, +6.64% or nearly 17% in 2-days), an American electric vehicle automaker and automotive technology company founded in 2009, after their July announcement that confirmed production totals for the quarter ending June 30, 2022. The company produced 4,401 vehicles at its manufacturing facility in Normal, Illinois and delivered 4,467 vehicles during the same period. These figures remain in line with the company’s expectations, and it believes it is on track to deliver on the 25,000 annual production guidance previously provided.

 

VP WATCHLIST UPDATES 
 
Shares of Apple (AAPL) closed at $146.35, +2.40%. Note that Apple enjoys a 6.82% weighting in the S&P 500. Word has it on the street that Apple’s iPhone 14 will most likely provide minor updates.
 
On June 14, Apple® and Major League Soccer (MLS) announced that the Apple TV® app will be the exclusive destination to watch every single live MLS match beginning in 2023. This partnership is a historic first for a major professional sports league, and will allow fans around the world to watch all MLS, Leagues Cup,1 and select MLS NEXT Pro and MLS NEXT matches in one place — without any local broadcast blackouts or the need for a traditional pay TV bundle.


 
tesla
 
Shares of Tesla (TSLA) closed at $733.63, +5.53%. According to a regulatory filing on June 10, Tesla has planned a 3-for-1 stock split. On July 2, Tesla reported that in the second quarter, they produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond our control. June 2022 was the highest vehicle production month in Tesla’s history. Tesla will post its financial results for the second quarter of 2022 after market close on Wednesday, July 20, 2022.Tesla management will hold a live question and answer webcast that day at 4:30 p.m. Central Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook. Webcast: https://ir.tesla.com (live and replay)


 
 
The Walt Disney Company (DIS) closed at $97.43, +1.41%. On July, 5, at ESSENCE Festival of Culture™, The Walt Disney Company announced the creation of the Disney Storytellers Fund at Howard University, which will create opportunities for historically underrepresented students to have future careers as storytellers and innovators in media and entertainment. On June 28, Disney’s Board of Directors unanimously voted to extend Bob Chapek’s contract as Chief Executive Officer for three years. The Disney Storytellers Fund at Howard University will provide stipends over a five-year period for student projects focused on storytelling across a variety of media including animation, digital design, gaming, journalism, live action, performing arts, product design, visual design, virtual reality and more. Disney will also provide access to speakers, mentors and internships to students in the program to spark interest in these fields and help them build the skills necessary for a future career in entertainment.
 
 
 
Atossa Therapeutics (NASDAQ: ATOS), a clinical-stage biopharmaceutical company seeking to develop innovative proprietary medicines in oncology and infectious disease with a current focus on breast cancer and COVID-19, rose to an intraday and closing high of $1.09, prior to closing at $1.07, +2.88 on 752,718 shares of trading volume.
 
Today, 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.
 
On June 2nd, Atossa announced the appointment of Charles Butler, a 25-year veteran in the healthcare communications space, as vice president of investor relations and public relations. Prior to joining Atossa, Mr. Butler spent 10 years at Exelixis, Inc. where he managed all communications from the preclinical through commercial stage for multiple drugs. During his time at Exelixis, he was a part of the team that raised over $1B in equity and business development transactions. Prior to Exelixis, he worked at Ogilvy in New York and London. At Ogilvy he was part of the team that launched multiple blockbuster drugs for several pharmaceutical companies including Merck and Pfizer. While in London, he managed a 25+ person team, overseeing healthcare communications for the United Kingdom and Europe. He has also worked at Castlight Health, ICR, Adverum, Eiger Biopharmaceuticals and IN8bio, Inc. Mr. Butler graduated from George Washington University with a B.A. in Political Science.  “As Atossa continues to develop our pipeline both in breast cancer and COVID-19, the necessity for an in-house strategic manager for our communications has become an important priority and Charles’s extensive experience within the industry as a liaison for both investors and the media make him a valuable asset,” commented Dr. Steven Quay, Atossa’s President and Chief Executive Officer. “The unique opportunity to be part of the Atossa team that is working to bring new products to market in breast cancer and other important diseases is exciting. It will allow me to leverage my many years of experience across the communications spectrum in biotechnology. I look forward to collaborating closely with management to ensure its strong message of innovation and patient care are clearly received in this crowded marketplace,” stated Charles Butler. 
 
On May 9, Atossa announced the financial results for the fiscal quarter ended March 31, 2022, and provides an update on recent company developments. Key developments from Q1 2022 and to date include: Received issuance of key U.S. patent covering Endoxifen directed to compositions of storage-stable Endoxifen and methods of treating hormone-dependent breast disorders using the storage-stable Endoxifen, Announced planned U.S. Phase 2 clinical study of Endoxifen in the neoadjuvant setting (prior to surgery) to compare Endoxifen to standard of care in premenopausal women with breast cancer. A CRO has been engaged to work on this study and the Company also intends to retain a leading U.S. research institution to help manage the study. The Company anticipates submitting an IND to the FDA in the second quarter of 2022, Completed Part B (second of four parts) of Phase 1b/2a clinical study of AT-H201 in Australia. “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,” commented Dr. Steven Quay, Atossa’s President and Chief Executive Officer. “Our Phase 2 study in women with measurable breast density continues to enroll participants in Stockholm and we have been preparing to submit a request (IND) to the FDA this quarter to open a Phase 2 study in the neoadjuvant setting here in the Unites States. We began 2022 with significant progress in our COVID-19 program, both initiating and completing key parts of our Phase1b/2a trial in Australia for AT-H201, and we have now completed the first two parts of that study.” 
 
On April 20, Atossa announced it has completed enrolling participants in Part B of its Phase 1/2a clinical study of AT-H201 in Australia, consisting of multiple ascending dose cohorts in healthy participants. AT-H201 is being developed as an inhalation therapy for moderately to severely ill hospitalized COVID-19 patients and for “long-haul” patients with post-infection pulmonary disease.“Part B of the study was successfully completed and, subject to approval from the ethics committee, we will now proceed to enroll the next group of participants,” said Steven Quay, M.D., Ph.D., Atossa’s CEO and President. “Despite widespread availability of vaccines, many areas of the world are seeing a recent surge in COVID-19 cases. There continues to be a strong need for additional therapies to combat COVID-19.” LEARN MORE. 
 
On March 8, Atossa announced that the U.S. Patent and Trademark office has issued a new patent further strengthening Atossa’s intellectual property in its proprietary therapy Endoxifen, which is under development for breast cancer and other breast conditions. U.S. Patent No. 11,261,151 (the ‘151 Patent) is titled “Methods for Making and Using Endoxifen” and is directed to compositions of storage-stable Endoxifen and methods of treating hormone-dependent breast disorders using the storage-stable Endoxifen. “We are very pleased with the scope and breadth of this new key patent,” said Dr. Steven Quay, Atossa’s President and Chief Executive Officer. “Patents covering the composition of matter of new therapies are critical to protect markets from generic competition. The ‘151 Patent,’ with its estimated expiration in 2038, strengthens our intellectual property estate and should create long-term stockholder value.” Atossa is developing its proprietary Endoxifen in two clinical settings: one to reduce tumor cell activity in breast cancer patients in the neoadjuvant setting, meaning prior to surgery; and another to reduce dense breast tissue in women. A Phase 2 study is currently underway in women with measurable breast density and Atossa plans to submit a request (IND) to the FDA to open other Phase 2 in the neoadjuvant setting in the next quarter. Atossa’s neoadjuvant program is focused on breast cancers that are classified as estrogen receptor positive (ER+). Although there are numerous neoadjuvant treatments for breast cancers that are not ER+, there are few neoadjuvant treatments for ER+ breast cancer which comprises about 78% of all breast cancers. We believe there is a compelling need for therapy with our Endoxifen in this setting. An estimated ten million women in the U.S. have mammographic breast density, or MBD, for which there is no FDA-approved treatment. MBD is an emerging public health issue and studies conducted by others have shown that MBD increases the risk of developing breast cancer and that reducing MBD can reduce the incidence of breast cancer. The American Cancer Society estimates that in the U.S. in 2022, 287,850 women will be diagnosed with breast cancer, 47,550 of which will be under the age of 50 and 43,250 of which will die from the disease.
 
On Jan. 27, Atossa issued the annual letter from President and CEO Dr. Steven C. Quay to Atossa stockholders.  The letter Bega as follows: “The last two years have changed the face of public health and uncovered the urgency to develop products not only to prevent widely spread infectious diseases, but to treat them with the same level of focus and dedication applied to prevention. Despite the launch of highly efficacious vaccines during 2021, the toll that COVID-19 was taking on public health was not reduced. The rise of the Omicron variant toward the end of the year, and emerging long-term impact of long COVID, remain an important public health priority, and one that Atossa is dedicated to addressing. A key feature of the original SARS-CoV-2 virus, and that is retained in both the Delta and Omicron variants, is the furin cleavage site found on the Spike protein which facilitates viral infection. Our COVID-19 programs under development are designed to interact with this cleavage site so they are expected to be effective against both current and future COVID-19 variants that continue to contain a furin cleavage site. In the meantime, we are also very excited about the ongoing development of our breast health programs with our proprietary drug Endoxifen, with one Phase 2 study underway and another expected to commence in the next quarter. We raised over $110 million in capital in 2021 and we are well positioned to execute on our programs in 2022.” Click here to read the balance of the letter now.
 
On Jan. 18, Atossa announced it is advancing to enroll participants in Part B of its Phase 1/2a clinical study of AT-H201 in Australia, consisting of multiple ascending dose cohorts in healthy participants. The nebulized formulation, AT-H201, is being developed as an inhalation therapy for moderately to severely-ill hospitalized COVID-19 patients and for “long-haul” patients with post-infection pulmonary disease. Part A of the study, which consisted of a single ascending dose group of 4 cohorts of healthy participants, has now been completed. The Australian Human Research Ethics Committee has reviewed the safety data from Part A and has approved the study to proceed to Part B. “The results of the first part of the study were extremely encouraging and the ethics committee concluded we may now proceed to enroll the next group of participants,” said Steven Quay, M.D., Ph.D., Atossa’s CEO and President. “A record number of hospitalizations driven by the Omicron variant is producing a crisis at many healthcare facilities. Additional therapies to combat COVID-19 are desperately needed.” The Phase 1/2 a placebo-controlled study will enroll a total of 60 healthy participants and moderately-ill hospitalized COVID-19 patients. The study has 4 parts: Part A – a single ascending dose part, Part B – a multiple ascending dose part, Part C – a combination part in healthy individuals, and Part D a combination in COVID-19 infected patients. The study is being conducted by Avance Clinical Pty Ltd., a leading Australian clinical research organization. AT-H201 is a proprietary combination of two drugs previously approved by the FDA to treat other diseases and by other administration routes. AT-H201 is intended to be inhaled via a nebulizer to improve compromised lung function for moderate to severely ill, hospitalized COVID-19 patients and for “long-haul” patients with post-infection pulmonary disease. In May 2020, we completed in vitro testing of AT-H201 which showed that the components of AT-H201 inhibit SARS-CoV-2 infectivity of VERO cells, which is a standard cell type being used to study infectivity of the coronavirus. The Phase 1/2a study in Australia and other clinical studies must be successfully completed and regulatory approvals must be obtained before AT-H201 may be commercialized. No assurance can be given than studies will be successful or that regulatory approvals will be obtained.
 
 
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 $30.93, +8.03%. 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 $.499share, -.20%.
 

On June 14, InMed announced that a peer-reviewed scientific study entitled “Effects of Rare Phytocannabinoids on the Endocannabinoid System of Human Keratinocytes” has been published in the International Journal of Molecular Sciences. The study, in collaboration with Dr. Mauro Maccarrone, Professor and Chair of Biochemistry at the Department of Biotechnological and Applied Clinical Sciences, University of L’Aquila, Italy, highlights the biological activity of tetrahydrocannabivarin (“THCV”), cannabichromene (“CBC”) and other rare cannabinoids and their potential role in addressing various skin conditions. In the peer-reviewed study, researchers analyzed the effects of rare cannabinoids THCV, CBC, cannabigerol (“CBG”) and cannabigerolic acid (“CBGA”) on the major endocannabinoid system elements in skin cells. Using a widely recognized in vitro model of human keratinocytes, researchers studied how these cannabinoids interacted with several receptors including cannabinoid receptors and other endocannabinoid system components. In summary, each cannabinoid had distinct biological activity via the endocannabinoid system. In particular, THCV was shown to perform as a cannabinoid receptor 1 (“CB1”) antagonist and have a high affinity for the human transient receptor potential vanilloid 1 (“TRPV1”), which is involved in skin sensation, as did CBC albeit to a lesser extent. The results from the study support additional research of these rare cannabinoids for their potential effect on skin conditions.“This study represents the first systematic analysis of the effects of the rare cannabinoids THCV, CBC, CBGA and CBG on the major endocannabinoid system elements using human keratinocytes. These initial observations should be considered when exploring the therapeutic potential of rare cannabinoids for the treatment of human skin disease,” said InMed’s scientific advisor, Dr. Mauro Maccarrone. “This peer-reviewed study provides important scientific research investigating the distinctly different physiological effects of rare cannabinoids,” said Dr. Eric Hsu, Senior VP, Preclinical Research and Development. “As we continue to expand our portfolio of rare cannabinoids, including THCV and CBC, evidence-based research is imperative to improving our understanding of their biological activity. There is growing interest in the potential benefits of rare cannabinoids and this study represents InMed’s commitment to contributing to the body of research of rare cannabinoids.” The journal article can be accessed here: https://www.mdpi.com/1422-0067/23/10/5430.

 
On June 9, InMed launched B2B sales of the rare cannabinoid delta 9-dominant tetrahydrocannabivarin (“d9-THCV”) into the health and wellness sector via its wholly-owned subsidiary, BayMedica LLC. Shane Johnson, MD, SVP and General Manager of BayMedica stared,  “We are very excited to launch our highly anticipated d9-THCV and further enhance BayMedica’s growing product portfolio. THCV is one of the few rare cannabinoids that has been researched in early clinical trials for various therapeutic effects, fueling significant interest by end-product manufacturers and consumers alike. In anticipation of this launch, we have expanded internal sales and marketing infrastructure, developed new distribution channels and optimized the supply chain to ensure a consistent and reliable supply of a high quality product. As this market continues to mature, we are well positioned to be a leading supplier of rare cannabinoids to the health and wellness industry. We currently have several high-value, rare cannabinoids in various stages of commercial development and will continue to expand our cannabinoid portfolio over the coming years”.

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

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

On April 28, InMed announced the publication of a patent application in North America for several cannabinoid analogs. This patent application has broad claims directed to their molecular structure, uses and methods of manufacturing. Entitled “Cannabinoid Analogs and Methods for their Preparation”, the patent application describes several new cannabinoid-related chemical compounds that have not been previously described. If granted, the broad patent application allows for the creation of several variations of novel cannabinoid compounds, producing a robust library of proprietary new chemical entities (‘NCEs’). Scientists at BayMedica, LLC, InMed’s subsidiary in the US, designed and produced these cannabinoid analogs. These NCEs are expected to offer similar or improved therapeutic effects compared to their parent (naturally occurring) cannabinoid with modifications that may make them preferred candidates to treat specific diseases.


Eric Hsu, SVP, Pre-Clinical Research and Development for InMed commented; “We believe rare cannabinoids hold tremendous therapeutic potential that may address a number of unmet medical needs. This patent covers the selective modification of naturally occurring cannabinoids to target specific properties for pharmaceutical development. Such patent protection is an important component to ensure long-term commercial exclusivity as we continue to invest in R&D.”

 
On April 21, InMed announced it has launched B2B sales of the rare cannabinoid cannabidivarin (“CBDV”) to wholesalers, suppliers and end-product manufacturers in the health and wellness sector through its US subsidiary, BayMedica LLC. “Ensuring a reliable, large volume source of highly pure, bioidentical CBDV is an important step forward in the health and wellness sector. CBDV has been researched for its therapeutic potential in several disease areas such as autism spectrum disorder,” said Shane Johnson, MD, SVP and General Manager of BayMedica. “Whether you are a researcher or product developer at a multinational consumer package goods (‘CPG’) company, the ability to access highly pure and consistent active ingredients, free from contaminants typically found in plant-sourced cannabinoids such as pesticides, heavy metals, or potentially even THC, is a fundamental requirement. BayMedica’s cannabinoid manufacturing technologies provides exactly that value and we are excited to continue to introduce to the market additional rare cannabinoids that have previously not been abundantly accessible, including adding THCV to our portfolio in the immediate future.” LEARN MORE.
 
 
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 $.8734, +7.31% and has traded up to $.90, +3.05% in the aftermarkets.
 
***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.
 
On April 14, INVO Bioscience announced plans to open an INVO Center in Kansas City, Missouri. The Kansas City INVO Center will focus on patients in need of advanced fertility care utilizing the efficient, effective, and affordable INVOcell® solution. The Company currently has three operational INVO Centers treating patients in Birmingham, Alabama, Atlanta, Georgia, and Monterrey, Mexico, with others scheduled to open in the San Francisco and Tampa areas. The Company evaluates several criteria and data points as part of its efforts to identify markets suitable for INVO Centers. Based on an analysis of current population statistics, we believe that Kansas City may have upwards of 33,000 patients suffering with Infertility. With an estimated 1,500 IVF treatments annually, there exists a large gap of available care to treat local demand. Similar to other INVO Centers, the Company expects to engage physician partners to support its efforts in the Kansas City market.
 
 
 
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 $1.01, +.50% and has traded up to $1.06, +4.43% in the aftermarkets.  The 52-wk range is $.77-$5.08.
 
On June 29, NBSE announced the promotion of William (Bill) Mann, Ph.D. to President of the Company, effective immediately. Dr. Mann will also continue to serve as NeuBase’s Chief Operating Officer. “Since joining NeuBase as our Chief Operating Officer in July 2020, Dr. Mann has played an integral role in the advancement of the Company’s PATrOL™ platform and pipeline of therapeutic programs to treat myotonic dystrophy type 1, Huntington’s disease, and KRAS-driven cancers,” said Dietrich A. Stephan, Ph.D., Founder, Chief Executive Officer, and Chairman of NeuBase. “I look forward to continuing our work together as we employ NeuBase’s platform to design and develop novel genetic medicines that target and rescue gene dysfunctions and drive clinically impactful outcomes in rare and common diseases.”Prior to joining NeuBase, Dr. Mann served as the President, CEO, and board member of Helsinn Therapeutics U.S., where he transformed the development-focused company into a profitable commercial entity with a portfolio that included Aloxi®, Akynzeo®, Halaven®, and Zykadia®. Prior to Helsinn, he was Vice President of Corporate Development at Sapphire Therapeutics, where he led several business development transactions, including the licensing of anamorelin to Ono Pharmaceutical Co, Ltd., and played a key role in the sale of the company to Helsinn Healthcare SA. Also in this role, Dr. Mann managed the international Phase 2B study of anamorelin, which is now approved in Japan as Adlumiz® for the treatment of cancer cachexia. Dr. Mann began his professional career at Novartis, where he led a multidisciplinary drug discovery program and later served as Director of Business Development. He received bachelor and doctorate degrees in biochemistry from the University of Aberdeen, Scotland, completed postdoctoral studies at The Rockefeller University, and obtained an MBA from Rutgers University.
 
On May 17, Neubase announced the presentation of preclinical pharmacokinetics (PK) and biodistribution data for its lead development candidate, NT-0231.F, supporting a differentiated whole body treatment solution for myotonic dystrophy type 1 (DM1). These new data are being presented today in a poster session at the American Society of Gene and Cell Therapy (“ASGCT”) 25th Annual Meeting, taking place virtually and in person in Washington, D.C., May 16-19, 2022. Following a single intravenous (IV) injection of 30 mg/kg in wild-type BALB/c mice, NT-0231.F was cleared rapidly from the systemic compartment and demonstrated rapid and wide distribution into tibialis anterior muscle, heart muscle, and brain tissues. NT-0231.F rapidly cleared the plasma, and each tissue evaluated displayed an extended elimination phase with tissue concentrations measurable for at least four weeks following a single IV dose administration. Sandra Rojas-Caro, M.D., Chief Medical Officer of NeuBase, said, “We continue to build a robust and compelling data set potentially supporting a whole body treatment solution for DM1. These PK and biodistribution data presented today show IV administration of our lead candidate results in exposure in the major tissues that are affected by DM1. We believe the ability of our drug candidate to reach skeletal and heart muscles as well as brain tissue may potentially deliver a differentiated therapeutic approach to not only treat the myotonia, muscle weakness, and cardiac effects but also the cognitive impairments seen in DM1. We have now demonstrated in preclinical models that our lead candidate NT-0231.F achieves clinically relevant molecular and functional rescue as well as whole-body distribution.”
 
INmune Bio
 

INmune Bio, Inc. (INMB) closed at $10.09, +6.32%. On June 22, INmune Bio announced the issuance of U.S. Pat. No. 11,365,229 for “METHODS OF TREATING NEUROLOGICAL DISEASES,” a patent directed to use of Dominant Negative Tumor Necrosis Factor (DN-TNF) variants, such as the Company’s XPro™, by peripheral administration for crossing the blood-brain barrier (BBB) and treating diseases of the Central Nervous System (CNS). The patent is currently set to provide coverage through September 10, 2033, subject to a possible patent term extension if requested by the Company and approved by the USPTO under 35 U.S.C. 156.

Shares of Chinook Therapeutics, Inc. (KDNY), a biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, closed at $18.61, -1.38%. On July 5, KDNY announced that the European Commission has granted orphan drug designation for BION-1301 for the treatment of primary IgA nephropathy (IgAN). The decision follows a positive opinion from the Committee for Orphan Medicinal Products (COMP) of the European Medicines Agency (EMA). Orphan drug designation is granted to medicines that are intended to treat, prevent or diagnose a life-threatening or chronically debilitating rare disease with a prevalence in the European Union (EU) of fewer than five in 10,000 and with either no currently approved method of diagnosis, prevention or treatment or with significant benefit to those affected by the disease. Orphan designation in the EU provides sponsors with incentives including protocol assistance, 10 years of market exclusivity after approval and reductions in regulatory fees.


Economic Reports

On Monday, no economic data reports surfaced on July 4th holiday.

On Tuesday, the factory orders for manufactured goods report confirmed a 1.6% M/M rise in May, while shipments of manufactured goods came in up 1.8%.

On Wednesday, the release of the FOMC Minutes surfaced, which reconfirmed the Fed’s will to restore price stability is still in place, but they also added that a ‘more restrictive’ policy may lie ahead. The Weekly MBA Mortgage Applications Index report came in off 5.4% W/W, the June IHS Markit Services PMI report came in at 52.7, & the June ISM Non-Manufacturing Index came in at 55.3%.

On Thursday, the Weekly Initial Claims report confirmed 235,000 number, while the Weekly Continuing Claims reports confirmed 1.375M, with both showing little change.  The May Trade Balance case in at $85.5B, the oil inventories grew by 8.24M barrels, gasoline inventories decreased by 2.5M barrels.

Investing & Inspiration

  1. “We must build dikes of courage to hold back the flood of fear.” – Martin Luther King, Jr.
  2. “The return we reap from generous actions is not always evident.” – Francesco Guicciardini
  3. “Courage is knowing what not to fear.” – Plato

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

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

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

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

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

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

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

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

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

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

  15. “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

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

  17. “I am fascinated by what is beautiful, strong, healthy, what is living. I seek harmony.” – Leni Riefenstahl
  18. “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
  19. “Waste no more time arguing about what a good man should be. Be one.” – Marcus Aurelius
  20. “It is during our darkest moments that we must focus to see the light.” – Aristotle Onassis
  21. “Courage is fear holding on a minute longer.” – George S. Patton
  22. “You must be the change you wish to see in the world.” – Mahatma Gandhi
  23. “Don’t judge each day by the harvest you reap but by the seeds that you plant.” – Robert Louis Stevenson 
  24. “It is in the character of very few men to honor without envy a friend who has prospered.” – Aeschylus
  25. “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
  26. “The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey
  27. “Anything simple always interests me.” – David Hockney
  28. “He who angers you conquers you.” – Elizabeth Kenny
  29. “Concision in style, precision in thought, decision in life.” – Victor Hugo
  30. “The secret of genius is to carry the spirit of the child into old age, which means never losing your enthusiasm.” – Aldous Huxley
  31. “View health as an investment, not an expense.” – John Quelch
  32. “The most effective way to do it, is to do it.” – Amelia Earhart
  33. “Man needs his difficulties because they are necessary to enjoy success.” – A. P. J. Abdul Kalam
  34. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha
  35. “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
  36. “You must do the things you think you cannot do.”- Eleanor Roosevelt
  37. “Success is dependent on effort.” – Sophocles
  38. “Nobody who ever gave his best regretted it.” – George Halas
  39. “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
  40. “And when I breathed, my breath was lightning.” – Black Elk
  41. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
  42. “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
  43. “If you want a guarantee, buy a toaster.” – Clint Eastwood
  44. “We are an impossibility in an impossible universe.” – Ray Bradbury
  45. “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
  46. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
  47. Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
  48. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
  49. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
  50. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
  51. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
  52. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
  53. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
  54. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
  55. “There is more to life than increasing its speed.” – Mahatma Gandhi
  56. “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
  57. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
  58. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
  59. “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
  60. “Life is too short for long-term grudges.” – Elon Musk
  61. There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
  62. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
  63. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
  64. “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
  65. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
  66. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
  67. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
  68. “Let there be work, bread, water and salt for all.” – Nelson Mandela
  69. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
  70. “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
  71. “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
  72. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
  73. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
  74. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
  75. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
  76. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
  77. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
  78. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
  79. “Delete the negative; accentuate the positive!” – Donna Karan
  80. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
  81. “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
  82. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
  83. “Everything has beauty, but not everyone sees it.” – Confucius
  84. 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
  85. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
  86. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
  87. “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
  88. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
  89. “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
  90. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
  91. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
  92. “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
  93. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
  94. “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
  95. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
  96. “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
  97. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
  98. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
  99. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
  100. “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
  101. “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
  102. “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
  103. “There is little that can withstand a man who can conquer himself.” – Louis XIV
  104. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
  105. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
  106. “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
  107. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
  108. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
  109. “Never do anything against conscience even if the state demands it.”– Albert Einstein
  110. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
  111. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
  112. “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
  113. “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
  114. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
  115. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
  116. “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
  117. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
  118. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
  119. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
  120. “The secret of getting ahead is getting started.” – Mark Twain
  121. “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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