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The Stock Market Sinks Further To End August – $ATXG (+2,021.29%) $BHC $INVO $META $SNAP Rise!

By John F. Heerdink, Jr.
Quote of the Day “Any sufficiently advanced technology is indistinguishable from magic.” – Arthur C. Clarke


Happy August 31!

I hope the that you made progress on all fronts on this last day of August.  As for the stock market, Wednesday’s session was relatively a repeat of yesterday’s performance beginning and descending into the red throughout the day. On the NYSE the decliners outpaced advancers 2-1 and & on the Nasdaq they closed with a 3-2 margin in favor of the decliners was well. A number of macroeconomic reports hit the tape including the Weekly MBA Mortgage Applications Index report that confirmed a 3.7% drop. The August ADP Employment Change Report also reflected that an estimated 132k employees were added to private sector payrolls. The August Chicago PMI report clocked in at 52.2 & the Weekly EIA Crude Oil Inventories report confirmed a 3.33M barrel draw. Oil prices sank further by 2.4% to close at $89.41/bbl and are hopefully finally headed to a more reasonable range between $60-$80. The US treasury yield curve remained inverted as the 10-yr moved up 2 basis points to close at 3.13% & the 2-yr note dropped 2 basis points to close at 3.44%.

In turn, all major indices moved lower over the course of the day and closed again in the red. The S&P 500 closed at 3,955.00 (-.78%) with 10 of the 11 sectors closing in the red, while only the consumer discretionary sector closed level. The Dow also ended the session at 31,510.43 (-.88%)as Dow component and tech giant Apple (AAPL) moved lower once again this week by 1.06% to close at $157.22.  The growth oriented and tech heavy Nasdaq closed at 11,816.20 (-.56%), while the small caps on the Russell 2000 followed suit and closed at 1,844.12 (-.62%). However, Biotech stocks closed in positive territory as the SPDR S&P Biotech ETF (XBI) rose .72% to close at $83.70. The 52-wk range is $61.78 – $136.61. The iShares Biotechnology ETF (IBB) ticked up too to close at $121.46, +.26%. The 52-range is $104.29 – $176.02. A decent measure of the markets volatility or the CBOE Volatility Index (^VIX) closed at $25.87, remain above the important $25 level and traded within the range of $25.31 – $26.62. 

Around the money and precious metals’ tree, the U.S. Dollar Index stayed amazingly high and closed at 108.71, -.06%, while Bitcoin (BTC) bounced to $20,211.19, +1.76% over the last 24-hours at the time of this writing. Gold prices closed at $1,717/oz., -$12/oz. & silver closed at $18.01/oz., down $.40/oz. on the day. Two mining producers closed the day as follows: Hecla Mining Company (HL) closed at $3.94, -.51% and First Majestic Silver Corp. (AG) closed at $7.28, -.14%. On Aug. 8, First Majestic announced the release of its 2021 Sustainability Report summarizing the Company’s Environmental, Social and Governance (“ESG”) performance. The Sustainability Report and the Company’s performance indicators follow the Global Reporting Initiative and Sustainability Accounting Standards Board metrics. The report is available for review under the Corporate Responsibility section of First Majestic’s website (www.firstmajestic.com). “In 2021, First Majestic achieved record production of 26.9 million silver equivalent ounces representing a 32% increase compared to the previous year. This record was in part due to our focus on responsible and sustainable mining integrated with our vision to become the world’s largest primary silver producer,” stated Keith Neumeyer, President and CEO. “I strongly believe that our efforts in 2021 demonstrated our commitment to sustainability and to improving lives and communities in our host regions while increasing shareholder value, as well as driving positive changes for society and delivering long-term benefits for all First Majestic stakeholders.”

 

FURTHER AFIELD 

Shares of Addentax Group Corp. (NasdaqCM: ATXG), a Shenzen China-based integrated service provider focusing on garment manufacturing, logistics service, property management and subleasing, and epidemic prevention supplies, rose to $656.54, +2,021.29% today after announcing the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $5.00 per share, for total gross proceeds of approximately $25 million, before deducting underwriting discounts and other related expenses on Aug. 30. The Offering is being conducted on a firm commitment basis. The Company’s common stock commenced trading on Nasdaq Capital Market under the ticker symbol “ATXG” today August 31, 2022.

Bausch Health Companies Inc. (NYSE: BHC, $5.97, +16.60%) is a global diversified pharmaceutical company whose mission is to improve people’s lives with our health care products. They develop, manufacture and market a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals and eye health, through their approximately 88.7% ownership of Bausch + Lomb.  

Shares of Meta Platforms, Inc. (Nasdaq: META), formerly known as Facebook, rose to close at $162.93, +3.67%.

Shares of Snap, Inc. (SNAP) rose to close at $10.88, +8.69% today. Stories were flying around regarding layoffs to the tune of 20% of the workforce (+6000 employed) while cutting their investments in businesses to boot therefore reducing costs. 

Memes stock GameStop Corp. (GME) closed at $29.84, -5.42% as the shorts won a battle again today. GameStop will report second quarter fiscal 2022 results after the market closes on Wednesday, September 7, 2022. The Company will host an investor conference call at 5:00 pm ET on the same day to review its results. This call and all supplemental information can be accessed on GameStop’s investor relations website: https://investor.gamestop.com. The phone number for the investor conference call is 1-877-407-6169 and the confirmation code is 13732487.


VP WATCHLIST UPDATES 
 
Shares of Apple (AAPL) closed at $157.22, -1.06%. Apple enjoys a 6.82% weighting in the S&P 500. Apple CEO Tim Cook set a Sept. 5 deadline for workers to be in the office at least three days a week recently and now the company is facing “a return office” war of sorts.
 
By the way, it would appear that Apple is aiming to grab Facebook or Meta’s paying advertisers and has been hiring in this area. 
 
Apple plans to release the iPhone 14 at their September launch event. Did you know that approx. 75% of iPhone users have activated Apple Pay to date?
 
On Aug. 1. reportedly Apple raised $5.5B by issuing of 4 series of bonds with ratings of AAA from Moody’s Investors Service and AA+ from S&P Global, according to Informa Global Markets.
 
 
On July 28, Apple announced financial results for its fiscal 2022 third quarter ended June 25, 2022. The Company posted a June quarter revenue record of $83.0 billion, up 2 percent year over year, and quarterly earnings per diluted share of $1.20. Tim Cook, Apple’s CEO stated, “This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers. As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.”  Luca Maestri, Apple’s CFO stated, “Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category. During the quarter, we generated nearly $23 billion in operating cash flow, returned over $28 billion to our shareholders, and continued to invest in our long-term growth plans.”

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

 
tesla
 
Shares of Tesla (TSLA) closed at $275.61, -.75% today. On Aug. 5th, TSLA’s stock split 3-1.  This week, Tesla CEO Elon Musk stated that the company is targeting the end of 2022 to have  self-driving technology available for consumption in the US a& European markets, with a caveat that regulatory approvals will rule ultimately.
 
 
Recently, it was confirmed that Tesla’s CEO Elon Musk had sold $6.9B of TSLA stock.  
 
Tesla reported its Q2 earnings after the close on Tuesday, July 19, meeting analysts’ estimates. Tesla stated that it sold 75% of its Bitcoin, turning it into fiat currency, adding $936 in cash to its balance sheet, but they also ended their streak of reporting record revenue. Revenue came in at $16.9 billion vs $16.88 billion expected & Adjusted EPS: $2.27 vs $1.83 expected. Tesla still expects to see 50% annual growth in their vehicle deliveries. Tesla CEO Elon Musk believes thinks that inflation has likely peaked, he stated “If I were to guess — and I would take this with a grain of salt — I think inflation will decline towards the end of this year. We are certainly seeing prices of commodities trending lower.”

 
The Walt Disney Company (DIS) closed at $112.08, -.31%. Christine McCarthy, Senior Executive Vice President and Chief Financial Officer, The Walt Disney Company and Josh D’Amaro, Chairman, Disney Parks, Experiences and Products, will participate in a question-and-answer session at the 2022 Bank of America Securities Media, Communications & Entertainment Conference on Wednesday, September 7, 2022 at approximately 1:30 p.m. ET/ 10:30 a.m. PT.
 
On Aug. 15th, a report surfaced that Dan Loeb’s Third Point Capital had built a position and was negotiating for ESPN to be rolled out. Here’s Disney’s response. 
 
Disney highlighted the following during their recent quarterly report: Revenues for the quarter and nine months grew 26% and 28%, respectively, Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.77 from $0.50 in the prior-year quarter. Excluding certain items, diluted EPS for the quarter increased to $1.09 from $0.80 in the prior-year quarter, Diluted EPS from continuing operations for the nine months ended July 2, 2022 increased to $1.66 from $1.02 in the prior-year period. Excluding certain items(1), diluted EPS for the nine months increased to $3.22 from $1.91 in the prior-year period. Bob Chapek, Chief Executive Officer, The Walt Disney Company stated, “We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services. With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings. We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter.”
 
 
 
Atossa Therapeutics (ATOS), a clinical-stage biopharmaceutical company seeking to develop innovative proprietary medicines in oncology and infectious disease with a current focus on breast cancer and COVID-19, rose to an intraday high of $.9493 prior to closing at $.9210, -.96% on 242,511 shares of trading volume.
 
 
 
 
On Aug. 25th, Atossa’s CEO, Dr. Steven Quay, M.D., Ph.D., and Kyle Guse, GC & CFO presented at Tribe Public’s Webinar Presentation and Q&A Event. During this complimentary event, Atossa management spoke of new opportunities for its inhalation therapy, AT-H201, to potentially treat lung injury caused by cancer treatment and were available for a Q&A session focused on Atossa’s research programs and future development. To watch the event video titled The Important Role For Inhalation Therapy In Oncology” please visit the Tribe Public YouTube Channel. 
 
 
On Aug. 18, Atossa announced the appointment of Dr. Paul Wabnitz to its Scientific Advisory Board (SAB). The Company has also re-appointed Drs. Mak Jawadekar, Per Hall, and Carl Novina to the SAB. Dr. Wabnitz has extensive experience in clinical development with a unique combination of clinical medicine, pharmacology, toxicology, and industry drug development experience. He has acted as an investigator and Medical Monitor on over 50 first in human Phase I/II clinical trials over the last two years, including several Phase I/II first in human oncology studies, as well as previously being the Executive Medical Director of a leading Australian Phase I clinical unit. His scientific background includes a Ph.D. in Organic Chemistry, a Post Doc at Parke-Davis (Ann Arbor, MI), 6.5 years of drug development industry experience (Pfizer/Esperion), an M.B.A. from the Stephen Ross School of Business (University of Ann Arbor, MI), and a Drug Development certificate in Regulatory Affairs from Temple University (Philadelphia, PA). His clinical background includes a Doctor of Medicine (M.D.), and he is a qualified Specialist Physician and Clinical Pharmacologist (Fellow of the Royal Australasian College of Physician, Australia).

On Aug. 8, Atossa announced their financial results for the fiscal quarter ended June 30, 2022, and provided an update on recent company developments. Dr. Steven Quay, Atossa’s President and Chief Executive Officer stated, “We continue to make steady progress with our Endoxifen programs: one to reduce tumor cell activity in breast cancer patients in the neoadjuvant setting; and another to reduce dense breast tissue in women. Our work on AT-H201 demonstrated valuable outcomes, not the least of which was an understanding of how to pursue its development in the field of oncology. With the widespread availability of SARS-CoV-2 vaccines and other therapies now approved to treat COVID-19, we believe that altering the development pathways for AT-H201 in cancer patients with compromised lung-function resulting from radiation treatment may fill a compelling unmet medical need and create additional value for our stockholders. Lung injury caused by radiation treatment affects 30-40% of lung cancer patients, and ~35% of esophageal cancer patients. In non-small cell cancer patients receiving concurrent chemotherapy and radiation therapy the incidence of lung injury is estimated to be greater than 60%. As we previously announced, rather than proceeding with Part D of the AT-H201 study in COVID-19 patients, we plan to quickly initiate a clinical study of patients with compromised lung function caused by radiation treatment and we anticipate announcing next steps in the coming months.”

On July 28, Atossa announced it has completed dosing participants in Part C of its Phase 1/2a clinical study of its proprietary inhalation therapy (or, AT-H201) in Australia. AT-H201 consists of two drugs previously approved by the FDA to treat other diseases. AT-H201 is intended to be inhaled via nebulizer with the goal of preventing or reducing lung injury that may be caused by fibrin deposition, fluid build-up and secondary infection. Part C of the study involved administering the two drugs in succession in healthy volunteers. The study originally included a Part D which was designed to assess the effects of the treatment regimen in hospitalized COVID-19 patients with moderate illness. However, due to the rapidly shifting COVID-19 treatment landscape and the introduction of effective vaccines limiting hospitalizations, Atossa has evaluated indications for AT-H201 beyond COVID-19 patients, including treating and/or preventing lung injury in patients undergoing certain cancer treatments.
Rather than conducting Part D of the Phase 1/2a clinical study, Atossa now plans to shift the development of AT-H201 to closely align with its oncology focus by continuing the development in patients with compromised lung-function due to the damaging effects of cancer treatment. For example, radiation treatment can lead to radiation induced lung injury, which is poorly treated with current therapies and is often irreversible. Furthermore, radiation damage can limit the overall success of lung cancer treatment leading to a reduction in efficacy and poor disease control. AT-H201 has pharmacological properties to potentially curtail excessive radiation-induced lung injury without compromising standard of care cancer therapy for cancer patients. AT-H201 is designed to prevent and reduce dose-limiting toxicities, and enable a more durable therapeutic tumor response for cancer patients receiving pulmonary radiation. Steven Quay, M.D., Ph.D., CEO and President of Atossa stated, “We are happy to have completed Parts A, B and C of the clinical trial and look forward to evaluating the results. With widespread availability of SARS-CoV-2 vaccines and other therapies now approved to treat COVID-19, we believe that altering the development pathways for AT-H201 in patients with compromised lung-function resulting from radiation may fill a compelling unmet medical need and create more value for our stockholders. Based on our work to date with AT-H201, we believe we can quickly initiate a clinical study in this setting and we plan to announce our next steps in the fourth quarter.”
 
Jason McCarthy Ph.D., a biotech analyst at the Maxim Group, put out a note on July 28th reconfirming his BUY rating and a $4 target price on Atossa.
 
On July 7th, Atossa filed an 8k at sec.gov that stated, that on July 1, 2022, Atossa Therapeutics, Inc. (“Atossa”) entered into a letter agreement (the “Letter Agreement”) with a venture-capital backed, private company based in the United States that is in the pre-clinical stage of developing novel Chimeric Antigen Receptor (CAR) T-cell therapies based on technology licensed from a leading U.S. adult and pediatric cancer treatment and research institution (the “CAR-T Company”). The Letter Agreement requires that up until November 1, 2022 the CAR-T Company will (i) negotiate exclusively with Atossa for Atossa to acquire the CAR-T Company, and (ii) address certain matters related to personnel, operations and intellectual property. Atossa has paid $3 million for the exclusive right to negotiate with the CAR-T Company. If a definitive agreement is not reached for Atossa to acquire the CAR-T Company and if a specified material adverse event has not occurred, then Atossa will pay an additional $2 million for a 19.99% preferred stock equity interest in the CAR-T Company. Atossa is under no obligation to complete the acquisition of the CAR-T Company and no assurance can be given that an acquisition will be completed on acceptable terms or at all.
 
 
 
Shares of Fate Therapeutics, Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for patients with cancer, closed at $26.14, +.62%.
 
On Aug. 8, Fate Therapeutics announced the publication of preclinical study results demonstrating the successful generation, durable anti-tumor response, and functional persistence of TCR-CAR+ iPSC-derived CD8αβ T cells from induced pluripotent stem cells (iPSCs). The CD8αβ T cells were derived from a single engineered iPSC integrating a novel chimeric antigen receptor (CAR) transgene into the T-cell receptor alpha constant (TRAC) locus, ensuring complete bi-allelic disruption of T-cell receptor (TCR) expression and promoting uniform CAR expression. The discoveries were made under a multi-year research collaboration between the Company and Memorial Sloan Kettering Cancer Center (MSK) led by Michel Sadelain, M.D., Ph.D., Director, Center for Cell Engineering and Head, Gene Expression and Gene Transfer Laboratory, and were published this week in Nature Biomedical Engineering.
 
After the market closed on August 3, Fate released its business highlights and financial results for the second quarter ended June 30, 2022. Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics stated,  “We continue to make important strides across our clinical, regulatory, and manufacturing operations to support pivotal readiness of our iPSC-derived NK cell product candidates for B-cell lymphoma, and are looking forward to meeting with the FDA in the third quarter to discuss registrational pathways for the treatment of relapsed / refractory aggressive lymphomas, including for patients that have previously failed CD19-targeted CAR T-cell therapy. We are also excited that clinical investigation of FT536 has initiated to assess the targeting of oncogenic and cellular stress ligands, a novel pan-tumor-targeting strategy with the potential to overcome common mechanisms of tumor escape that frequently emerge in patients with advanced solid tumors. Finally, we continue to drive our collaborations with Janssen and Ono with strong momentum, and are well positioned to achieve significant milestones and advance three multiplexed-engineered, CAR-targeted cell collaboration candidates into clinical development over the next 12 months.”
 
On June 30, Fate announced that Brian T. Powl has been appointed Chief Commercial Officer. Mr. Powl brings to Fate Therapeutics extensive commercial leadership experience in hematologic malignancies and solid tumors, having previously served as the Global Commercial CAR T lead at Celgene Corporation where he oversaw the commercial development strategy of the company’s CAR T-cell therapies. Mr. Powl most recently served as Senior Vice President, Commercial Development & Marketing at MEI Pharma, Inc., where he led the commercialization efforts of a late-stage small molecule program in B-cell malignancies across marketing, sales, market access and commercial operations.
 
On June 28 Fate announced that it has expanded its off-the-shelf, iPSC-derived, cell-based cancer immunotherapy collaboration with ONO Pharmaceutical Co., Ltd. (ONO) to include the development of chimeric antigen receptor (CAR) NK cell collaboration candidates. In addition, as part of the collaboration’s expansion, ONO will contribute novel binding domains targeting a second solid tumor antigen. Under the original Collaboration and Option Agreement entered into between Fate and ONO in September 2018, ONO has contributed novel binding domains targeting an initial solid tumor antigen, and Fate is currently conducting preclinical development of a multiplexed-engineered, iPSC-derived CAR T-cell product candidate for solid tumors. Under the terms of the amended Collaboration and Option Agreement, Fate will advance iPSC-derived CAR NK and CAR T-cell product candidates to a pre-defined preclinical milestone, at which point ONO has an option to assume responsibility for worldwide development and commercialization with Fate retaining the right to jointly develop and commercialize in the United States and Europe. Fate retains all rights of manufacture of collaboration products on a global basis.
 
 
 
Shares of InMed Pharmaceuticals Inc. (NASDAQ: INM), a leader in the development, manufacturing and commercialization of rare cannabinoids, closed at $.2380/share, -7.54%.
 
On Aug. 23, InMed announced that it will be consolidating all of its issued and outstanding share capital on the basis of one (1) post consolidation share for each twenty five (25) preconsolidation common shares of the Company (the “Consolidation”) in order to regain compliance with all of Nasdaq’s continued listing requirements. The Consolidation will result in the number of issued and outstanding common shares of the Company being reduced from 18,014,937 to approximately 720,597 common shares on a non-diluted basis and each shareholder will hold the same percentage of common shares outstanding immediately after the Consolidation as such shareholder held immediately prior to the Consolidation.
 
On Aug. 9, InMed announced the appointment of Nicole Lemerond to its Board of Directors, effective immediately. Nicole Lemerond is a financial executive with over 25 years of experience in investment management, private equity, investment banking and leveraged finance. She has significant experience executing complex transactions, managing diligence processes, raising capital and structuring balance sheets. Throughout her career, Ms. Lemerond has worked with public and private company management teams and boards to increase stakeholder value. She established and led healthcare groups at leading investment firms and has also worked at several large financial institutions, including Lehman Brothers and The Carlyle Group. Ms. Lemerond holds a Bachelor of Science degree from Cornell University and is a CFA charterholder. Contemporaneous with Ms. Lemerond’s appointment, Adam Cutler has decided to transition off the Board of Directors. Mr. Cutler has served on the Board since 2015, during which time his financial and healthcare expertise has been instrumental in advancing the strategic initiatives of the Company. Over the years, Mr. Cutler has served as Chair of the Audit Committee as well as a member Governance and Nomination Committee. Ms. Lemerond will replace Mr. Cutler as a member of the Audit Committee and as a member of the Governance and Nomination Committee.
 
On July 25, InMed provided an update on its Phase 2 clinical trial using investigational drug INM-755 cannabinol (“CBN”) cream for the treatment of patients with epidermolysis bullosa (“EB”) highlighting the following: 1) Phase 2 clinical trial recently expanded to include adolescents following independent review of early safety data, 2) First adolescent patient with EB enrolled into clinical trial and completed treatment, 3) International patent granted for the use of cannabinol for the treatment of epidermolysis bullosa.
 
On July 18, InMed announced Michael Woudenberg has been appointed Chief Operating Officer of the Company, overseeing all day-to-day operations. Mr. Woudenberg was previously Senior Vice President of Chemistry, Manufacturing and Controls. Mike has been an integral part of the executive team for the last four years, supporting multiple functions within the organisation. Prior to joining InMed, Mike had over 20 years of successful drug development, process engineering, GMP manufacturing and general management experience at all levels of various companies. Mike’s intimate knowledge of the Company’s operations and extensive leadership experience make him an ideal candidate to oversee operations and support the long-term strategic growth of the Company. He will continue to report to Eric A. Adams, InMed President and CEO.
 
On June 14, InMed announced that a peer-reviewed scientific study entitled “Effects of Rare Phytocannabinoids on the Endocannabinoid System of Human Keratinocytes” has been published in the International Journal of Molecular Sciences. The study, in collaboration with Dr. Mauro Maccarrone, Professor and Chair of Biochemistry at the Department of Biotechnological and Applied Clinical Sciences, University of L’Aquila, Italy, highlights the biological activity of tetrahydrocannabivarin (“THCV”), cannabichromene (“CBC”) and other rare cannabinoids and their potential role in addressing various skin conditions. In the peer-reviewed study, researchers analyzed the effects of rare cannabinoids THCV, CBC, cannabigerol (“CBG”) and cannabigerolic acid (“CBGA”) on the major endocannabinoid system elements in skin cells. Using a widely recognized in vitro model of human keratinocytes, researchers studied how these cannabinoids interacted with several receptors including cannabinoid receptors and other endocannabinoid system components. In summary, each cannabinoid had distinct biological activity via the endocannabinoid system. In particular, THCV was shown to perform as a cannabinoid receptor 1 (“CB1”) antagonist and have a high affinity for the human transient receptor potential vanilloid 1 (“TRPV1”), which is involved in skin sensation, as did CBC albeit to a lesser extent. The results from the study support additional research of these rare cannabinoids for their potential effect on skin conditions.“This study represents the first systematic analysis of the effects of the rare cannabinoids THCV, CBC, CBGA and CBG on the major endocannabinoid system elements using human keratinocytes. These initial observations should be considered when exploring the therapeutic potential of rare cannabinoids for the treatment of human skin disease,” said InMed’s scientific advisor, Dr. Mauro Maccarrone. “This peer-reviewed study provides important scientific research investigating the distinctly different physiological effects of rare cannabinoids,” said Dr. Eric Hsu, Senior VP, Preclinical Research and Development. “As we continue to expand our portfolio of rare cannabinoids, including THCV and CBC, evidence-based research is imperative to improving our understanding of their biological activity. There is growing interest in the potential benefits of rare cannabinoids and this study represents InMed’s commitment to contributing to the body of research of rare cannabinoids.” The journal article can be accessed here: https://www.mdpi.com/1422-0067/23/10/5430.
 
 
Shares of INVO Bioscience, Inc. (NASDAQ: INVO), a commercial-stage fertility company focused on expanding access to advanced treatment worldwide with its INVOcell® medical device and the IVC procedure it enables, closed at $.9680,+3.78 and has traded up to $1.01, +9.78% in the aftermarkets. 
 
On Aug. 25th, INVO Bioscience announced that Advanced Reproductive Centre, Hospital Canselor Tuanku Muhriz (HCTM), formally known as Hospital Universiti Kebangsaan Malaysia (HUKM), based in Kuala Lumpur, Malaysia, is making IVC available for their patients. The move follows the successful completion of the first IVC case in the country recently with data presented at the Obstetrical and Gynecological Society of Malaysia (“OGSM”) where it was awarded a prize as a new and innovative fertility treatment. A signing ceremony announcing the launch of IVC was witnessed by the Minister of Science and Innovation and Deputy Secretary General. HCTM, one of the five university hospitals in Malaysia, is currently the highest volume fertility center in the country. Steve Shum, CEO of INVO Bioscience, commented, “We are excited that INVOcell will officially be commercialized at HCTM in Kuala Lumpur following the successful presentation of data at OGSM and government support by the Minister of Science and Innovation and Deputy Secretary General. HCTM will start offering IVC both in their public and private sectors with an expectation to complete a number of cycles by the end of 2022. We are also working with partners in Malaysia to open up an INVO Centers in their existing practice as we strive to bring our innovative advanced fertility treatment to the people of Malaysia.”
 
INVO Bioscience reported financial results for its second quarter 2022, ended June 30, 2022, after the market close on Monday, August 15, 2022.  INVO highlighted the following progress: Existing INVO Centers experienced a 20% increase in patient inquiries and consultations compared to the first quarter of 2022, as key activities continue to build, Progressing toward planned openings of additional INVO Centers in Tampa, Florida, Kansas City, Kansas, and the San Francisco Bay Area, In May 2022, signed an exclusive distribution agreement with Onesky Holdings Limited (“Onesky”) for mainland China (excludes Hong Kong, Macau and Taiwan). Onesky will be responsible for registering the product in the country, and upon government approval, will be obligated to purchase minimum quantities of INVOcell totaling approximately $14 million over the subsequent five-year term, & increased U.S.-based expansion opportunities post-Ferring, including both greenfield INVO Centers and potential acquisitions of established fertility clinics.
 
***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 $20.80, +1.07%.

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

Economic Reports

On Tuesday, the Conference Board’s Consumer Confidence Index report closed up to 103.2 in August. The July JOLTS Job Openings report came in totaling 11.239M. The June FHFA Housing Price Index report showed .1% upward tick. The June S&P Case-Shiller Home Price Index report moved up 18.6%

On Wednesday, the Weekly MBA Mortgage Applications Index report that confirmed a 3.7% drop. The August ADP Employment Change Report also reflected that an estimated 132k employees were added to private sector payrolls. The August Chicago PMI report clocked in at 52.2 & the Weekly EIA Crude Oil Inventories report confirmed a 3.33M barrel draw. Oil prices sank further by 2.4% to close at $89.41/bbl. However, the US treasury yield curve remained inverted as the 10-yr moved up 2 basis points to close at 3.13% & the 2-yr note dropped 2 basis points to close at 3.44%.

 

Investing & Inspiration

  1. “Any sufficiently advanced technology is indistinguishable from magic.” – Arthur C. Clarke

  2. “Good questions outrank easy answers.” – Paul Samuelson
  3. “Thinking: the talking of the soul with itself.” – Plato

  4. “I don’t think of all the misery but of the beauty that still remains.” – Anne Frank

  5. “All money is a matter of belief.” – Adam Smith
  6. “People are not disturbed by things, but by the view they take of them.” – Epictetus

  7. “Uncertainty is seen to retard investment independently of considerations of risk or expected return.” – Ben Bernanke

  8. “I never called my work an ‘art’. It’s part of show business, the business of building entertainment.” – Walt Disney
  9. “Hitch your wagon to a star.” – Ralph Waldo Emerson

  10. “The greatest remedy for anger is delay.” – Lucius Annaeus Seneca

  11. “Great minds discuss ideas; average minds discuss events; small minds discuss people.” – Eleanor Roosevelt

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

  46. “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

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

  48. “I am fascinated by what is beautiful, strong, healthy, what is living. I seek harmony.” – Leni Riefenstahl
  49. “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
  50. “Waste no more time arguing about what a good man should be. Be one.” – Marcus Aurelius
  51. “It is during our darkest moments that we must focus to see the light.” – Aristotle Onassis
  52. “Courage is fear holding on a minute longer.” – George S. Patton
  53. “You must be the change you wish to see in the world.” – Mahatma Gandhi
  54. “Don’t judge each day by the harvest you reap but by the seeds that you plant.” – Robert Louis Stevenson 
  55. “It is in the character of very few men to honor without envy a friend who has prospered.” – Aeschylus
  56. “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
  57. “The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey
  58. “Anything simple always interests me.” – David Hockney
  59. “He who angers you conquers you.” – Elizabeth Kenny
  60. “Concision in style, precision in thought, decision in life.” – Victor Hugo
  61. “The secret of genius is to carry the spirit of the child into old age, which means never losing your enthusiasm.” – Aldous Huxley
  62. “View health as an investment, not an expense.” – John Quelch
  63. “The most effective way to do it, is to do it.” – Amelia Earhart
  64. “Man needs his difficulties because they are necessary to enjoy success.” – A. P. J. Abdul Kalam
  65. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha
  66. “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
  67. “You must do the things you think you cannot do.”- Eleanor Roosevelt
  68. “Success is dependent on effort.” – Sophocles
  69. “Nobody who ever gave his best regretted it.” – George Halas
  70. “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
  71. “And when I breathed, my breath was lightning.” – Black Elk
  72. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
  73. “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
  74. “If you want a guarantee, buy a toaster.” – Clint Eastwood
  75. “We are an impossibility in an impossible universe.” – Ray Bradbury
  76. “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
  77. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
  78. Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
  79. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
  80. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
  81. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
  82. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
  83. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
  84. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
  85. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
  86. “There is more to life than increasing its speed.” – Mahatma Gandhi
  87. “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
  88. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
  89. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
  90. “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
  91. “Life is too short for long-term grudges.” – Elon Musk
  92. There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
  93. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
  94. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
  95. “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
  96. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
  97. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
  98. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
  99. “Let there be work, bread, water and salt for all.” – Nelson Mandela
  100. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
  101. “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
  102. “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
  103. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
  104. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
  105. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
  106. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
  107. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
  108. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
  109. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
  110. “Delete the negative; accentuate the positive!” – Donna Karan
  111. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
  112. “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
  113. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
  114. “Everything has beauty, but not everyone sees it.” – Confucius
  115. 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
  116. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
  117. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
  118. “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
  119. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
  120. “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
  121. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
  122. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
  123. “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
  124. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
  125. “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
  126. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
  127. “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
  128. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
  129. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
  130. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
  131. “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
  132. “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
  133. “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
  134. “There is little that can withstand a man who can conquer himself.” – Louis XIV
  135. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
  136. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
  137. “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
  138. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
  139. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
  140. “Never do anything against conscience even if the state demands it.”– Albert Einstein
  141. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
  142. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
  143. “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
  144. “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
  145. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
  146. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
  147. “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
  148. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
  149. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
  150. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
  151. “The secret of getting ahead is getting started.” – Mark Twain
  152. “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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