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Stock Market Produces Healthy Holiday-Shortened Weekly Bounce – $AAPL $FATE $GME $INVO $RIVN $TSLA $XBI Rise!

By John F. Heerdink, Jr.
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Quote of the Day: “When something is important enough, you do it even if the odds are not in your favor.” – Elon Musk

I hope that you, your family, and your friends had a wonderful and prosperous week. I spent a good part of the week, after the July 4th holiday, in sunny Park City, Utah, visiting with other investment groups and a few of our sister organization’s Tribe Public members. I highly recommend the area and look forward to returning to it soon.

As for the markets this week, investors experienced a welcomed bounce in the markets overall that essentially gave us back what we lost on a weekly basis the previous week. Nevertheless, all seemed to feel a bit better during this holiday-shortened 4 session week and I and most investors will take it. The S&P 500 closed at 3,899.38  up +1.9% for the week and is down -18.2% YTD. The Dow closed at 31,338.15 up +.8% for the week and is now down 13.8% YTD.  The Nasdaq had the best move of the week powered by many tech issues (i.e Apple, Amazon, Microsoft) and especially the semiconductor industry that saw nice moves from AMD (AMD) & NVIDIA (NVDA) as the index closed at 11,127.85 up +4.6% for the week, but remains down a whopping 25.6% YTD. With the widely positive moves of the major indices the CBOE Volatility Index (^VIX) closed at $24.64, down -14.18% over the last 5-days.

The small caps on the Russell 2000 had a solidly positive move and closed at 1,727.76  up +2.4% for the week & is now down 21.2% YTD. The MicroCaps had an even greater move over the last 5-days as bids were found for many issues far and wide as the iShares Micro-Cap ETF (IWC) closed at $109.71, +5.53% over the last 5-days and is now down 21.48% YTD.

The biotech sector also realized a stellar move across the board. I would suggest that it is about time as we have seen a number of businesses fold, many values have been revealed as many companies are trading below cash levels, any more are being acquired, and now many getting further funded! This week, the Nasdaq Biotechnology ETF (IBB) closed at $126.66, +7.68% over the last 5-days, & is down -17.01% YTD. The NYSE ARCA Biotech Index (^BTK) also closed at 4,906.18, +6.04% over the last 5-days. The SPDR S&P Biotech ETF (XBI) closed at $84.43, .up an amazing+13.68% over the last 5-days, but remains down 24.59% YTD. The 52-week range is is now $61.78-$136.61.

The macroeconomic schedule produced a number of reports and interesting data points. 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. On Friday, the June Non-farm Payrolls came in at 372k, the June Nonfarm Private Payrolls cam in at 381k, the June Avg. Hourly Earnings came in at .3%, the June Unemployment Rate came in at 3.6%, & the June Average Workweek cam in at 34.5. In addition, the May Wholesale Inventories cam in at 1.8%, the May Consumer Credit came in at $22.3B. Overall, these reports, sans the jobs data, have led the markets to assume that the Fed will continue on its interest rate raising path in the near term, and that a recession is increasingly becoming a greater risk. Note that the yield curve bounced as well this week, the 2-yr treasury rose 29 basis points to close at 3.12% & the 10-yr treasury jumped 21 basis points to close at 3.10%, however, the curve remains flattened as growth concerns and inflation remain issues in the US and worldwide for the most part. Curiously, since WWII, we have seen 12 ‘official’ recessions, which is about one every 6.5 years. On a positive note, oil prices ended down 3.4% over the course of the week and actually managed to dip below $100 for a bit, but remains uncomfortably high at $105.06/bbl. Oil is still now up 39.2% YTD. 


EV, TECH, CONSUMER, FINANCIALS

Apple (AAPL) closed at $147.04, +7.55% over the last 5-days. Apple represents a 6.82% weighting in the S&P 500. 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. From early 2023 through 2032, fans can get every live MLS match by subscribing to a new MLS streaming service, available exclusively through the Apple TV app. In addition to all of the match content, the service will provide fans a new weekly live match whip-around show so they never miss an exciting goal or save, and also game replays, highlights, analysis, and other original programming. This live and on-demand MLS content will provide in-depth, behind-the-scenes views of the players and clubs that fans love. A broad selection of MLS and Leagues Cup matches, including some of the biggest matchups, will also be available at no additional cost to Apple TV+® subscribers, with a limited number of matches available for free. As an added benefit to fans, access to the new MLS streaming service will be included as part of MLS full-season ticket packages. The MLS live and on-demand content on the Apple TV app will be available to anyone with internet access across all devices where the app can be found, including iPhone®, iPad®, Mac®, Apple TV 4K, and Apple TV HD; Samsung, LG, Panasonic, Sony, TCL, VIZIO, and other smart TVs; Amazon Fire TV and Roku devices; PlayStation and Xbox gaming consoles; Chromecast with Google TV; and Comcast Xfinity. Fans can also watch on tv.apple.com.“For the first time in the history of sports, fans will be able to access everything from a major professional sports league in one place,” said Eddy Cue, Apple’s senior vice president of Services. “It’s a dream come true for MLS fans, soccer fans, and anyone who loves sports. No fragmentation, no frustration — just the flexibility to sign up for one convenient service that gives you everything MLS, anywhere and anytime you want to watch. We can’t wait to make it easy for even more people to fall in love with MLS and root for their favorite club.” “Apple is the perfect partner to further accelerate the growth of MLS and deepen the connection between our clubs and their fans,” said Don Garber, MLS’s commissioner. “Given Apple’s ability to create a best-in-class user experience and to reach fans everywhere, it’ll be incredibly easy to enjoy MLS matches anywhere, whether you’re a super fan or casual viewer.”

tesla

EV giant Tesla (TSLA) closed at $752.29, +11.71% over the last 5-days. According to a regulatory filing late on June 10, Tesla has planned a 3-for-1 stock split. On July 8, it was reported that Elon Musk is terminating his $44 billion deal to buy Twitter (TWTR) but the company vowed Friday to still complete the deal, setting the stage for a legal battle that could lead to more turmoil and uncertainty for the social media network.

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. June 2022 was also the highest vehicle production month in Tesla’s history. 

Irvine based Rivian Automotive, Inc. (RIVN, $31.99, +24.28% over the last 5-days), is an American electric vehicle automaker and automotive technology company founded in 2009. This week., Rivian 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 remained 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.

Shares of JPMorgan (JPM) closed at $114.36, +1.55% over the last 5-days. JPMorgan Chase & Co.  will host a conference call to review second-quarter 2022 financial results on Thursday, July 14, 2022 at 8:30 a.m. (EDT). The results are scheduled to be released at approximately 7:00 a.m. (EDT). The live audio webcast and presentation slides will be available on www.jpmorganchase.com under Investor Relations, Events & Presentations. The general public can access the conference call by dialing the following numbers: 1 (866) 659 9159 in the U.S. and Canada; +1 (617) 399 5172 for international callers; use passcode 26483228#. Please dial in 15 minutes prior to the start of the call.

Amazon.com, Inc. (NASDAQ: AMZN) $115.54, +8.78% over the last 5-days. Note that Prime Day is back with millions of deals worldwide for Prime members to shop exclusively. The 48-hour shopping event kicks off July 12 at 3 a.m. EDT, offering must-have deals of up to 79% off across categories, including electronics, devices, toys, beauty, fashion, and home, from top national brands and small businesses.

Shares of Microsoft Corp. (MSFT) closed at $267.66, +4.22% over the last 5-days. On June 16, Microsoft Corp. announced Microsoft Viva Sales, a new seller experience application. Viva Sales enriches any CRM system with customer engagement data from Microsoft 365 and Microsoft Teams, and leverages AI to provide personalized recommendations and insights for sellers to be more connected with their customers. This helps sellers more seamlessly personalize their customer engagements toward faster deal closure.

Shares of Salesforce, Inc. (CRM) closed at $175.50, +6.34% over the last five days. CRM recently beat quarterly expectations and increased its FY23 profit guidance. On June 29, Salesforce introduced the next generation of MuleSoft, a unified solution for automation, integration, and APIs to easily automate any workflow so any technical or non-technical team can adapt to constant change and business complexity.

NVIDIA (NVDA) closed $158.38, +4.48% over the past 5-days. On June 29, Siemens, a leader in industrial automation and software, infrastructure, building technology and transportation and NVIDIA, a pioneer in accelerated graphics and artificial intelligence (AI), announced an expansion of their partnership to enable the industrial metaverse and increase use of AI-driven digital twin technology that will help bring industrial automation to a new level. As a first step in this collaboration, the companies plan to connect Siemens Xcelerator, the open digital business platform, and NVIDIA Omniverse™, a platform for 3D-design and collaboration. This will enable an industrial metaverse with physics-based digital models from Siemens and real-time AI from NVIDIA in which companies make decisions faster and with increased confidence.

Cathie Wood’s ARK Innovation ETF (ARKK) closed at $46.86, +17.50% over the last 5-days. 

The Technology Select Sector SPDR Fund (XLK) closed at $132.87, +4.52% over the last 5-days.

Walt Disney Company (DIS) closed at $95.86, +1.55% over the last 5-days. Disney will discuss fiscal third quarter 2022 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Wednesday, August 10, 2022. Results will be released after the close of regular trading on August 10, 2022. To listen to the webcast, please visit www.disney.com/investors. The webcast presentation will be archived.

On June 28, Disney’s Board of Directors unanimously voted to extend Bob Chapek’s contract as Chief Executive Officer for three years.
 


Shares of McDonald’s (MCD) closed at $253.24, +2.58% over the last 5-days. On June 22, Adyen, the global financial technology platform of choice for leading businesses, and McDonald’s announced the expansion of their mobile app partnership to the U.S. The two companies began working together in early 2020 in the U.K. and are now expanding to other markets globally.

GOLD & SILVER

Gold prices closed at $1,744/oz., -$64/oz. & silver prices closed at $19.34/oz., -$.53/oz. for the week. Hecla Mining (HL) closed at $3.65, -6.89% over the last 5-days & First Majestic (AG) closed at $7.07, -.1.53% over the last 5-days. On July 5, Hecla Mining and Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) announced a definitive agreement for Hecla to acquire all of the outstanding common shares of Alexco that Hecla does not already own. Each outstanding common share of Alexco will be exchanged for 0.116 of a share of Hecla common stock implying consideration of US$.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.

MEMES CENTRAL

AMC Entertainment (AMC) closed at $14.66, +8.19% over the last 5-days.  

GameStop (GME) closed at $128.54, +5.10% over the last 5-days. On July 6, GME confirmed a 4-1 stock split in the form of a dividend for shareholders of record at the close of business on July 18. The company also announced the CFO’s departure and layoffs. 

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) closed at $.7130, -11.98% over the last 5-days.  

CRYPTO & BITCOIN

Bitcoin (BTC) closed at $21,597.06, recovered 6.97% over the last 5-days. 

ENERGY

The Energy Select Sector SPDR Fund or ETF (XLE) closed at $70.95, -.78% over the last 5-days. Chevron (CVX) closed at $142.77, -1.39% over the last 5-days. 


NEXT WEEK

We are back to 5  trading sessions next week. 

VP WATCHLIST UPDATES

Please review our complete VP Watchlist that includes Apple (AAPL), Disney (DIS), Tesla (TSLA) & a select group of emerging names.  The pages will allow you to learn more and keep up with these companies daily.

For now, see the summaries or five of the emerging companies from the VP Watchlist below:

  • Shares of Natural-Killer cell (NKcell) focused biopharmaceutical firm Fate Therapeutics (FATE) closed at $30.01, +21.11% over the last 5-days. 
    • 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 Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need with a current focus on breast cancer and COVID-19, closed at closed at $1.08, -.92% over the last 5-days.
    • On June 2, 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 provided 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.” 
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  • Shares INVO Bioscience (NASDAQ: INVO), a medical device company focused on creating alternative treatments for patients diagnosed with infertility and developers of INVOcell®, the world’s only in vivo Intravaginal Culture System, closed at $.8713, +36.14% over the last 5-days.

***INSIDER BUYING ALERT***– On Friday June 3, after the close, a number of Form 4’s were filed c. 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. 

    • 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.
 
Here are some of INVO’s recent operational highlights:
 
  • Regained full U.S. commercialization rights to sell its INVOcell® solution directly into existing in vitro fertilization (IVF) clinics, to expand the number of U.S. INVO Centers free of any limitations, and to pursue its market expansion strategy focused on increasing access to care and democratizing fertility care for the underserved patient population.
  • Opened three INVO Center’s in 2021, including Birmingham, Alabama, Atlanta, Georgia, and Monterrey, Mexico with another clinic scheduled to open in the San Francisco area. The Company recently identified Tampa, Florida as the location of the next INVO Center.
  • Entered into an agreement with Ovo in Spain to expand INVOcell® commercialization in all four of their Ovoclinics, establish a European center of excellence and training site for INVOcell® and the IVC procedure, and leverage Ovobank’s fertility clinic relationships across Europe.
  • Completed the acquisition of a Canadian-based entity, originally formed to offer INVOcell®, to advance distribution efforts in Canada, where the product is already approved by Health Canada and cleared for importing.
  • Obtained regulatory approval to commercialize INVOcell® in Thailand and Nigeria.
  • Presented four poster abstracts discussing INVOcell® at the 77th Scientific Congress & Expo of the American Society for Reproductive Medicine held in Baltimore, Maryland in October 2021.
  • Revenue was $4.2 million for the year ended December 31, 2021, including $2.9 million due to the accelerated recognition of deferred revenue from the Ferring license, and compared to $1.0 million for the previous year.
  • Adjusted EBITDA for 2021 was $(2.8) million, which included a $0.7 million loss attributable to the Company’s joint ventures, compared to $(3.7) million in the prior year (see Adjusted EBITDA Table).

Steve Shum, CEO of INVO stated, “2021 was an exciting year for INVO as we opened our first INVO Center clinics. Our INVO Center model represents a strategy aimed at expanding adoption of INVOcell® and allowing us to capture a significantly larger percentage of the per-cycle IVC procedure revenue it enables. The INVO Centers are designed to offer attractive economics for our shareholders, medical practitioner partners and patients, and we believe are key to our efforts to address the fertility industry’s biggest challenges of cost and capacity. In addition to our announced plans to open additional centers in the San Francisco Bay Area and Tampa, Florida, we are evaluating over 20 additional US locations which represent attractive opportunities to open new INVO Centers. We also are in discussions for similar ventures across the globe. On the distribution side of our business, during the first quarter of 2022, we began selling directly to existing IVF fertility clinics in the U.S., after regaining full domestic commercialization rights to the INVOcell® upon termination of our prior agreements with Ferring. We are also seeing increased distribution activity from some of our partners in Europe and Africa. We are enthusiastic about our multi-channel strategy of supporting, servicing, and expanding across existing IVF clinic networks and building new, dedicated INVO Centers. We expect this strategy to drive increased market awareness and utilization of our revolutionary technology, and provide an affordable and equally effective fertility treatment alternative to the large, underserved patient population.”


**Check out the article that we published recently on INVO titled: INVO Bioscience Eyes +20 U.S. Cities To Expand Rollout Of Advanced Infertility Treatment ‘INVO Centers’.




  • Shares of InMed Pharmaceuticals, Inc. (NASDAQ: INM), a leading clinical-stage pharmaceutical company developing cannabinoid-based drug candidates for high unmet medical needs and IntegraSyn, a proprietary and cost effective manufacturing approach for synthesized rare cannabinoids, closed at $.4849/share, +3.17% over the last 5-days.  Please visit the INM page at our website to learn more and check out the videos section too. The 52-wk range is $.4170 – $3.47. 
    • 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 06, InMed Pharmaceuticals announced the closing of its previously announced registered direct offering and concurrent private placement with a single healthcare-focused institutional investor priced at-the-market under Nasdaq rules. The Company issued 4,079,256 of its common shares at a purchase price of $0.858 per share (or pre-funded warrant in lieu thereof) in the registered direct offering. In the concurrent private placement, InMed has also issued and sold 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 issued 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 were approximately $5 million. 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. acted as the exclusive placement agent for the offerings.

    • On May 13, InMed announced financial results for the third quarter of the fiscal year 2022 which ended March 31, 2022. Eric A. Adams, InMed President & CEO stated, “The third quarter of fiscal 2022 saw noticeable advancements across all of our programs, including commencing sales of the rare cannabinoids CBDV and CBT as raw ingredients for the health and wellness industry. For the remainder of fiscal 2022, we will remain focused on driving our commercial operations by expanding our product portfolio, increasing sales of our existing and new rare cannabinoids, exploring new distribution channels and optimizing our product development and supply chain strategy. We continue to grow revenues and have established a solid platform upon which to build as we commercialize additional high value products. We continue to focus on enhancing our sales and marketing efforts to support increasing demand.” LEARN MORE

    • 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.

    • 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.


INSIDER BUY ALERT***Per an sec.gov Form 4 filing Eric Adams, CEO of InMed purchased 8,650 shares of INM stock at $.85 on April 13, 2022. In addition, another Form 4 filing confirmed that Eric Adams, CEO of InMed also purchased 14,160 shares of INM stock at $.894 on April 14, 2022. He now owns a total of 59,003 shares. 

    • On  Feb. 15, Inmed announced the appointment of Gerard (Jerry) P. Griffin III as Vice President of Sales and Marketing at BayMedica, a wholly owned subsidiary of InMed. Mr. Griffin will oversee the commercialization of BayMedica’s health and wellness business including the existing products and the launch of new rare cannabinoid products. Mr. Griffin has a wealth of experience across various markets and with numerous cannabinoid products, and a proven track record as a seasoned sales executive. He has held several senior positions at both privately and publicly held companies including Fortune 500 companies. Most recently, Mr. Griffin was the Vice President of Sales and Business Development at Creo Ingredients, a biotechnology-based ingredient company that produces rare cannabinoids. Prior to Creo, he was the President of a successful wellness company, overseeing all aspects of a business that develops and distributes cannabinoid-based products. With his extensive hands-on experience in the rapidly expanding cannabinoid industry, he brings significant real-world knowledge across the entire value chain to the Company.

    • On Jan. 19, InMed announced that it has launched B2B sales of the rare cannabinoid cannabicitran (CBT) into the health and wellness sector. CBT is the first of several new product launches planned for the first half of 2022. InMed’s subsidiary, BayMedica, has received initial purchase orders and has commenced commercial sales of the ultra-rare cannabinoid CBT. CBT is the second rare cannabinoid to be launched by BayMedica, which also sells CBC wholesale as a raw ingredient to the health and wellness sector. Additionally, commercial scale production of cannabidivarin (CBDV) is underway, with tetrahydrocannabivarin (THCV) production scheduled to follow shortly thereafter. The Company expects to produce over 100kg of CBDV and THCV in the coming months to meet anticipated initial demand. Shane Johnson, SVP and General Manager of BayMedica stated, “We are delivering on our objective to launch additional rare cannabinoids in early 2022 in response to inbound demand. By midyear, we expect to have at least four rare cannabinoids available for the health and wellness markets, positioning us as a leading large scale supplier of high quality rare cannabinoids in these sectors. The launch of CBT further demonstrates our ability to produce rare cannabinoids at commercial scale, an achievement that very few companies have been able to accomplish. We are pleased with initial demand and we expect to grow sales over the coming quarters as we continue to expand our product portfolio of rare cannabinoids.” This emerging market is expected to grow significantly due to the increasing awareness of the potential benefits of cannabinoid-based products. According to the December 2021 Grand View Research report, the retail market for rare cannabinoids is expected to reach US$26 billion by 2028 with a forecasted compounded annual growth rate (CAGR) of >20% during the same period. With the availability of these rare cannabinoids at commercial scale, product manufacturers and consumer brands now have the ability to deliver differentiated products, including augmenting existing CBD-based products, to consumers in the health and wellness marketplace.
    • On Jan. 5th, InMed issued its Annual Letter to Shareholders from President and CEO Eric A. Adams which stated, “Building on a very strong 2021, we are looking forward to 2022 with the continued advancement of our pharmaceutical drug development programs and, with our acquisition of BayMedica, transitioning to becoming a leading B2B supplier of rare cannabinoids to the consumer health and wellness sector. I’m very excited to provide updates on our progress as we begin to commercialize new products and explore an array of rare cannabinoids for their potential therapeutic applications.” Click here to read the letter. 
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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 $1.03, -1.90% over the last 5-days.  The 52-wk range is $.77-$4.6399.
 
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.


INmune Bio

INmune Bio, Inc. (INMB) closed at $10.21, +15.50% over the last 5-days.

Thanks again for your attention this week. Please continue to share your thoughts, questions, & ideas as we move forward. 

In the meantime, please enjoy the balance of the weekly newsletter’s videos, quotes, updates and let’s find ways to crush it again this year!

Investing & Inspiration

  1. “When something is important enough, you do it even if the odds are not in your favor.” – Elon Musk

  2. “I choose a block of marble and chop off whatever I don’t need.” – Auguste Rodin

  3. “Hope is the only bee that makes honey without flowers.” – Robert Green Ingersoll

  4. “He who knows that enough is enough will always have enough.” – Lao Tzu

  5. “Plans to protect air and water, wilderness and wildlife are in fact plans to protect man.” – Stewart Udall

  6. “In order to carry a positive action we must develop here a positive vision.” – Dalai Lama

  7. “A hero is someone who understands the responsibility that comes with his freedom.” – Bob Dylan
  8. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
  9. “If we give something positive to others, it will return to us. If we give negative, that negativity will be returned.” – Allu Arjun
  10. “A good plan violently executed now is better than a perfect plan executed next week.” ~ George S. Patton
  11. “You must do the things you think you cannot do.”- Eleanor Roosevelt
  12. “Success is dependent on effort.” – Sophocles
  13. “Nobody who ever gave his best regretted it.” – George Halas
  14. “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
  15. “And when I breathed, my breath was lightning.” – Black Elk
  16. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
  17. “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
  18. “If you want a guarantee, buy a toaster.” – Clint Eastwood
  19. “We are an impossibility in an impossible universe.” – Ray Bradbury
  20. “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
  21. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
  22. “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
  23. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
  24. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
  25. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
  26. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
  27. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
  28. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
  29. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
  30. “There is more to life than increasing its speed.” – Mahatma Gandhi
  31. “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
  32. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
  33. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
  34. “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
  35. “Life is too short for long-term grudges.” – Elon Musk
  36. “There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
  37. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
  38. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
  39. “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
  40. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
  41. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
  42. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
  43. “Let there be work, bread, water and salt for all.” – Nelson Mandela
  44. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
  45. “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
  46. “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
  47. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
  48. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
  49. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
  50. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
  51. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
  52. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
  53. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
  54. “Delete the negative; accentuate the positive!” – Donna Karan
  55. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
  56. “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
  57. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
  58. “Everything has beauty, but not everyone sees it.” – Confucius
  59. “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
  60. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
  61. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
  62. “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
  63. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
  64. “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
  65. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
  66. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
  67. “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
  68. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
  69. “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
  70. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
  71. “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
  72. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
  73. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
  74. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
  75. “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
  76. “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
  77. “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
  78. “There is little that can withstand a man who can conquer himself.” – Louis XIV
  79. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
  80. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
  81. “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
  82. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
  83. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
  84. “Never do anything against conscience even if the state demands it.”– Albert Einstein
  85. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
  86. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
  87. “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
  88. “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
  89. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
  90. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
  91. “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
  92. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
  93. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
  94. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
  95. “The secret of getting ahead is getting started.” – Mark Twain
  96. “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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