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Yield Curve & Small Caps Pull Back While Large Caps Rise This Week – $INDP $SONO $STNE Rise!

By John F. Heerdink, Jr.
Quote of the Day: “You can’t expect to hit the jackpot if you don’t put a few nickels in the machine.” – Flip Wilson



Happy Saturday!

I hope all proceeded as planned or even better in this second week of the new year.

As for the broad markets, the large caps faired fairly well, however the small caps suffered over the course of the week.

The US macroeconomic schedule provided a number of reports that seemed to confuse many and also bring back into question if the Fed may have to postpone interest rate cuts for some time as they still seem to have their goal to get to their 2% target.  On Monday, the consumer credit report showed a rise by $23.7B in November.  On Tuesday, the November Trade Balance came in at -$63.2B in concert with the current global environment that is showing some manner of weakness. However, the December NFIB Small Business Optimism report came in higher at 91.9. On Wednesday, the Weekly MBA Mortgage Applications Index report came in at 9.9% , while the November Wholesale Inventories report clocked in at -.2%. On Thursday, the December CPI came in higher than expected at .3%, while the December Core CPI also came in at .3%. The Weekly Initial Claims came in at 202k and the Weekly Continuing Claims came in at 1.834M. On Friday, the December PPI report came in with a -.1% reading, while the December Core PPI came in flat. 

However, the yield curve pulled back considerably this week as the 2-yr yield fell 25bps to 4.15% and the 10-yr closed at 3.95%, down 9 bps. The U.S. Dollar Index remained at 102.44.

Interestingly, the CBOE Volatility Index (^VIX) fell 2.91% closing at $12.70, while US & the UK moved against Houthi-controlled military targets in Yemen & oil prices also fell 1.4% closing at $72.78/bbl.

At the end of the week, the Dow 30 closed at 37,593 (+.3%) this week and is now down .3% YTD & S&P 500 closed at 4,784 (+1.8%) and is now up .3% YTD,  The Nasdaq closed at 14,973 (+3.1%) and is now down .3% YTD.  

The Magnificent Seven closed as follows over the last 5-days: Alphabet (GOOG) closing at $137.39, -2.75%, Amazon (AMZN) closing at $145.24, -5.31%, Apple (AAPL, $181.18, -6.41%), Meta Platforms (META) closing at $351.95, -1.78%, Microsoft (MSFT) closing at $367.75, -2.01%, NVIDIA (NVDA) closing at $490.22, -.86% & Tesla (TSLA) closing at $237.49, -6.20%. The small caps on the Russell 2000 closed at 1,951.14 (-3.75%) for the week & is now down 3.75% YTD, while the MicroCaps also moved significantly lower this week as the iShares Micro-Cap ETF (IWC) closed at $111.74, -5.47% this week, and is now down 5.47% YTD.

Bank stocks fell as the SPDR S&P Regional Banking ETF (KRE) dropped 2.87% over the last 5-days to close at $51.73 and down 2.87% YTD & the SPDR S&P Bank ETF (KBE) moved down 2.04% over the last 5-days to close at $45.67.

The Biotech & healthcare sectors had a relatively big week as the 42nd Annual JPMorgan Healthcare Conference was held in San Francisco and a number of sizable mergers and acquisitions were announced along with a a greater number that were most likely being negotiated and/or at least contemplated. A number of deals in the healthcare sector were indeed announced on Monday this week as Merck (NYSE: MRK) & Harpoon Therapeutics, Inc. (Nasdaq: HARP), Johnson & Johnson (JNJ) & Ambrx,  Boston Scientific Corporation (NYSE: BSX)  Axonics, Inc. (Nasdaq: AXNX), GSK plc (LSE/NYSE: GSK) and then on Tuesday Aiolos Bio, Inc. (Aiolos)  announced that they had entered into an agreement under which GSK will acquire Aiolos, a clinical-stage biopharmaceutical company focused on addressing the unmet treatment needs of patients with certain respiratory and inflammatory conditions, for a $1 billion upfront payment and up to $400 million in certain success-based regulatory milestone payments. Note that Tribe Public, our sister organization, also hosted a Tribe Public CEO Presentation and Q&A Luncheon Event in San Francisco’s during the conference & this year’s co-host was Panna Sharma, CEO of Lantern Pharma (NASDAQ: LTRN). His presentation was titled “DISCOVER HOW AI IS CRUSHING TIMELINES & COSTS IN THE BIOTECH SECTOR.” Overall, The Nasdaq Biotechnology ETF (IBB) closed at $136.12, -.66% over the last 5-days and is now up .20% YTD, the NYSE ARCA Biotech Index (^BTK) closed at 5,410.81, -.40% over the last 5-days and is now down .15% YTD, & the SPDR S&P Biotech ETF (XBI) closed at $89.30, -1.72% over the last 5-days, & is now up .01% YTD. The iShares U.S. Healthcare ETF (IYH) closed at $291.56, +1.84% over the last 5-days and is up 1.86% YTD.    

Cathie Wood’s ARK Innovation ETF (ARKK) closed at $48.90, -9.68 over the last 5-days and is down 6.63% YTD.   

The iShares U.S. Healthcare ETF (IYH) closed at $291.56, +1.84% over the last 5-days and is up 1.86% YTD.    

From the world of cryptocurrency, Bitcoin (BTC) moved to $44,061.63, -1.99% over the course of the last 5-days at the time of the completion of this message & is up 159.79% over the last year.

Gold prices closed at $2,049 down from $2066 over the last 5-days.  Silver prices closed at $23.25 down from $23.85 over the last 5-days. The Global X Silver ETF (SIL) closed at $26.99, -5.83% over the last 5-days.





VP Watchlist Updates

 
 
Sonos, Inc. (Nasdaq: SONO, $16.36, +1.61% over the last 5-days) is one of the world’s leading sound experience brands,

On Nov. 30, Sonos, offering a comprehensive overview of the company’s Environmental, Social, and Governance (ESG) efforts. Included in the Report are actions made against Sonos’ Climate Action Plan, introduced in 2021, which serves as a framework to drive the company to carbon neutrality by 2030 and net zero by 2040. “We aim to build products and experiences that bring joy to people, and to do it in a responsible way. Our Listen Better Report outlines how we’re bringing thoughtful innovation to everything we do in pursuit of helping the world listen better,” said Patrick Spence, Sonos CEO. “This year, we expanded our portfolio by unveiling three products that tie together immersive sound and sustainable design.”

On Nov. 15 that its Board of Directors has authorized a common stock repurchase program of up to $200 million. Today, it was reported that Sonos has expectations to generate over $100 million from a major new product introduction this year — possibly hinting at new headphones.
 
 
 
 
Modular Medical, Inc. (NASDAQ: MODD, $1.66, -7.26% over last 5-days and +72.92% over the last 6-months), is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.” Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.
 
On Dec. 21, Modular Medical announced a collaboration agreement with Glooko, Inc., a global leader specializing in connected care and remote patient monitoring for diabetes. Integrating with Glooko will allow clinicians and patients to easily review insulin dosing data from the MODD1 pump, when commercially available. In addition, through Glooko’s platform, Dexcom CGMS users will be able to view their glucose levels in the same accessible format in conjunction with their pump data. Glooko’s platform has a broad installed base, which has been deployed in over 30 countries and 8,000 clinical locations. Jeb Besser, CEO of Modular Medical stated, “We are extremely pleased to add the Glooko technology platform to our diabetes care system making it even easier and more cost effective for us to provide this important capability to our clinical and patient base. Glooko’s mission to improve health outcomes of people with chronic conditions through its personalized, intelligent, connected care platform fits perfectly with our vision of providing an easy to use, affordable delivery technology to give more patients access to better care.”
 
On Dec. 15, Tribe Public hosted a CEO Presentation and Q&A Webinar Event titled “Diabetes Care For The Rest Of Us”. The co-host for this event was James (Jeb) Besser the CEO of Modular Medical, Inc. (NASDAQ:MODD), a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.”  You may view the event video at the Tribe Public YouTube channel now by clicking here.

On Oct. 31, Modular Medical provided an update on its ongoing pre-submission testing and timeline for submission of its MODD-1 insulin pump (the “MODD-1”) to the U.S. Food and Drug Administration (“FDA”). Modular Medical stated that it has made substantial progress on completing many of the tests required for submission and now has results back from some of the longest lead time tests, including insulin stability and potency. Modular Medical believes the test results received from multiple third-party laboratory tests are sufficient for submission of the MODD1 to the FDA for clearance, subject to the completion of other ongoing tests and reports. Jeb Besser, CEO of Modular Medical, commented, “The Modular Medical team has continued to make rapid progress towards our 510(k) submission to the FDA, since the completion of our pilot manufacturing line in August. While there is still additional testing to be done, we are starting to gain better visibility on our submission timeline, and we currently expect to make our FDA submission around year end 2023. We remain excited about our opportunity to bring access to better insulin delivery to underserved segments of the market.”

 
 



Lantern (LTRN) closed at $4.07, -1.69% over the last 5-days and up +3.69% in the aftermarket on Friday. Lantern is an Artificial Intelligence (AI) firm that is transforming the cost, pace, and timeline of oncology drug discovery and development and specifically is developing targeted and transformative cancer therapies using its proprietary RADR® AI and machine learning (“ML”) platform with multiple clinical stage drug programs.

Tribe Public, our sister organization, hosted a Tribe Public CEO Presentation and Q&A Luncheon Event during the 42nd JPMorgan Healthcare Conference 2024 held in San Francisco. Panna Sharma, CEO of Lantern Pharma (NASDAQ: LTRN) presentation was titled “DISCOVER HOW AI IS CRUSHING TIMELINES & COSTS IN THE BIOTECH SECTOR.”  

On Nov. 30, Lantern announced that the U.S. Food and Drug Administration (FDA) has granted LP-284 Orphan Drug Designation (ODD) for the treatment of high-grade B-cell lymphoma with MYC and BCL2 rearrangements. Lantern highlighted that the Orphan Drug Designation strengthens LP-284’s clinical development path and can provide for additional market exclusivity and commercial protection, Lantern has initiated a first-in-human Phase 1 trial (NCT06132503) for LP-284 in B-cell non-Hodgkin’s lymphomas (NHL), including high-grade B-cell lymphoma (HGBL) and mantle cell lymphoma (MCL), & this Orphan Drug Designation marks the second such designation for drug-candidate LP-284 this year.

On Nov. 8, Lantern announced operational highlights and financial results for the third quarter ended September 30, 2023 highlighting the following: 

  • Received IND clearance from FDA to initiate Phase 1 clinical trial for LP-284, a first-in-human trial for advanced, refractory non-Hodgkin’s lymphomas (NHL). 
  • Dosed initial patient in Phase 1 with LP-184, a clinical trial for multiple advanced solid tumors that are refractory to standard-of-care therapies.
  • Progressed Phase 2 LP-300 Harmonic™ clinical trial towards enrollment in East Asian countries where 30-35+% of all lung cancer cases occur in never-smokers with NSCLC; continued expansion of additional clinical trial sites in the US and increased focus on recruitment activity with advocacy groups.
  • Developed initial proof-of-concept and preclinical evidence for a novel cryptophycin-based ADC (antibody-drug conjugate); initial data is planned to be shared in January 2024.
  • Furthered development of Lantern’s AI platform, RADR®, to include modules for the streamlined development of ADCs and the prediction of drug combinations with existing approved checkpoint inhibitors.
  • Approximately $45 million in cash, cash equivalents, and marketable securities as of September 30, 2023, is anticipated to provide a cash runway into at least Q3 of 2025.
 

Panna Sharma is the President, CEO, and Board Member of Lantern Pharma Inc.

“The data highlighted in Clinical Cancer Research solidify LP-184 as a promising therapeutic for GBM, with LP-184 having inhibited the viability and growth of multiple GBM models including temozolomide-resistant and MGMT-expressing cells,” stated Panna Sharma, Lantern’s President and CEO.

“The rapid advancement of LP-184 into a first-in-human Phase 1 trial provides strong validation of the power of our AI-enabled approach to drug development. This approach is about more than just developing new treatments, it’s about making them more targeted, more effective, and ultimately doing all of this more efficiently. This publication demonstrates our ability to deliver on these aspirations and introduce new therapeutic programs in areas where there is significant unmet patient need.”


Deckers Brands (NYSE: DECK, $652.29, -3.44% over the last 5-days & +65.10% over the last year), a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, announced financial results recently for the second fiscal quarter ended September 30, 2023. The Company also provided an update to its financial outlook for the full fiscal year ending March 31, 2024. “The strength of demand for our HOKA and UGG brands continued to drive exceptional performance, producing record revenue and earnings for Deckers in both the second quarter and first half of fiscal year 2024,” said Dave Powers, President and Chief Executive Officer. “Our team’s ability to deliver compelling products that create emotional connections with consumers through engaging marketing campaigns, differentiates our brands in a competitive marketplace. This, paired with our strategic approach to marketplace management, led by our DTC channel, remains paramount to the success of our brands and Company. We are focused on maintaining the integrity of our healthy brands to deliver the results detailed in our increased outlook, while remaining aligned with long-term objectives.”

On Nov. 16, HOKA®, a division of Deckers Brands, introduced its latest partnership with SATISFY®, the Paris-based performance brand on a mission to help runners ‘Unlock the High.’ Together, both brands have developed a new, collaborative version of the iconic HOKA Clifton LS, the HOKA x SATISFY Clifton LS. A testament to both brand’s commitment to uncompromised performance, seamlessly integrating the HOKA brand’s trusted functionality with SATISFY’s performance design.


Shares of Indaptus Therapeutics, Inc. (Nasdaq: INDP) closed at $1.85, +5.11% over the last 5-days.

Indaptus is a company with the ability to harness both the body’s innate and adaptive immune responses, believes that they are uniquely positioned to revolutionize the treatment of cancer and certain infectious diseases. Indaptus Therapeutics has evolved from more than a century of immunotherapy advances. The Company’s novel approach is based on the hypothesis that efficient activation of both innate and adaptive immune cells and pathways and associated anti-tumor and anti-viral immune responses will require a multi-targeted package of immune system-activating signals that can be administered safely intravenously (i.v.). Indaptus’ patented technology is composed of single strains of attenuated and killed, non-pathogenic, Gram-negative bacteria producing a multiple Toll-like receptor (TLR), Nucleotide oligomerization domain (Nod)-like receptor (NLR) and Stimulator of interferon genes (STING) agonist Decoy platform. The products are designed to have reduced i.v. toxicity, but largely uncompromised ability to prime or activate many of the cells and pathways of innate and adaptive immunity. Decoy products represent an antigen-agnostic technology that have produced single-agent activity against metastatic pancreatic and orthotopic colorectal carcinomas, single agent eradication of established antigen-expressing breast carcinoma, as well as combination-mediated eradication of established hepatocellular carcinomas and non-Hodgkin’s lymphomas in standard pre-clinical models, including syngeneic mouse tumors and human tumor xenografts.

In pre-clinical studies tumor eradication was observed with Decoy products in combination with anti-PD-1 checkpoint therapy, low-dose chemotherapy, a non-steroidal anti-inflammatory drug, or an approved, targeted antibody. Combination-based tumor eradication in pre-clinical models produced innate and adaptive immunological memory, involved activation of both innate and adaptive immune cells, and was associated with induction of innate and adaptive immune pathways in tumors after only one i.v. dose of Decoy product, with associated “cold” to “hot” tumor inflammation signature transition. IND-enabling, nonclinical toxicology studies demonstrated safe i.v. administration without sustained induction of hallmark biomarkers of cytokine release syndromes, possibly due to passive targeting to liver, spleen, and tumor, followed by rapid elimination of the product. Indaptus’ Decoy products have also produced significant single agent activity against chronic hepatitis B virus (HBV) and chronic human immunodeficiency virus (HIV) infections in pre-clinical models.

On Jan. 4, Indaptus announced that the European Patent Office (EPO) has informed the company that it will grant a European patent related to the company’s platform technology, covering a composition that can be used in the prevention or treatment of viral infections. The patent, titled “Methods of Treatment of Infections Using Bacteria,” (Application 19 866 580.4) provides protections for the application of the Company’s Decoy technology platform alone or in combination with standards of care for the prevention or treatment of any viral infection. The EPO patent will be the second patent granted to Indaptus outside the United States for this application. Jeffrey Meckler, Indaptus Therapeutics CEO, commented, “The continued protection of our intellectual property both in the U.S. and abroad will provide a competitive advantage for the Company, which should ultimately drive significant shareholder value over time. We continue to explore the applications of our technology platform beyond solid tumors, for which we are currently engaged in a Phase 1 clinical trial, and look forward to updating our shareholders on scientific progress.”

On Nov. 6, Indaptus announced interim data from the first cohort of four patients in the Phase 1 INDP-D101 trial of its lead compound, Decoy20. A broad expression of cytokines and chemokines associated with innate and adaptive anti-tumor immune responses was observed, while adverse events were generally tolerable and resolved within 30 minutes to three days. Decoy20 is designed to “re-set” the immune system’s response to cancer. The poster was presented on November 4, 2023, at the Society for Immunotherapy of Cancer in San Diego.

“We are impressed that we saw short-term induction of more than 50 cytokines, chemokines and biomarkers and believe this is unprecedented with a single agent. These early data support our long-standing hypothesis that the Decoy platform may induce robust immune responses across multiple types of immune cells that we believe are important for the eradication of solid tumors,” commented Indaptus CEO Jeffrey Meckler. Learn more here. 

Also, on Nov. 6, Indaptus announced financial results for the third quarter ended September 30, 2023 and provided a corporate update.

We continue to be encouraged by early results from our first cohort of patients in the INDP-D101 trial evaluating Decoy20 for the treatment of solid tumors. As we recently reported and presented at the Society for Immunology in Cancer (SITC) conference, all four first cohort patients have maintained stable disease since receiving their single dose and presented evidence of immune activation, along with short-lived adverse events consistent with Decoy20’s mechanism of action, and we look forward to continuing to track them. In the meantime, we have already dosed our first patient in the second cohort, for which we have titrated the dose down in anticipation of a similar response. We continue to expect to have the second cohort completed by early 2024, which would provide guidance for the selection for the recommended Phase 2 dose for subsequent multi-dosing and combination studies, which are also planned for 2024,” said Jeffrey Meckler, Chief Executive Officer of Indaptus. “We are also fortunate to be receiving the benefit of our appointment of industry veteran, Roger Waltzman, M.D., as our Chief Medical Officer, who has already proven valuable even in this short period. We anticipate continuing to benefit from his expertise as we move forward with our Phase 1 trial and further develop the Decoy platform. In the meantime, we are prudently managing our cash position.”

On Sept, 29, Tribe Public hosted a Webinar Presentation and Q&A Event titled “Immunotherapy Reimagined” Indaptus Therapeutics’ (NASDAQ: INDP) CEO, Jeffrey Meckler delivered a presentation & also addressed a 5-10 minute Q&A session at the end of the presentation. You may view it now by clicking here. 


Learn more about Indaptus Therapeutics (NASDAQ: INDP) at the VP Watchlist page by clicking here.
 

 

 

Shares of ADT Inc. (ADT), the most trusted brand in smart home and small business security, closed at $6.31, -3.22% over the last 5-days. Recently, ADT released its third quarter 2023 financial results recently and beat expectations. They highlighted the following progress: Significant balance sheet improvement driven by divestiture of commercial business, Record high CSB recurring monthly revenue balance driven by strong retention, Improved capital efficiency with record revenue payback of 2.0 years, & Continued innovation in core smart home security markets and rationalization of solar footprint.

On Oct. 2, GTCR, a leading private equity firm, announced that it has closed the acquisition of ADT’s commercial security, fire and life safety security businessfrom ADT Inc. (“ADT”, NYSE: ADT). Moving forward as a standalone organization, ADT Commercial will rebrand as Everon. GTCR will partner with former Protection1 executives Dan Bresingham and Tim Whall, along with other members of ADTC leadership, to acquire the Company, one of the leading national providers of electronic security and fire safety services to commercial enterprises and multi-site national accounts. Mr. Bresingham, former leader of ADT’s commercial security, fire and life safety business, will become Chief Executive Officer of Everon and Mr. Whall will serve as an active director on the Company’s Board.


Shares of Seanergy Maritime Holdings Corp. (SHIP), the only pure-play Capesize ship-owner publicly listed in the U.S. closed at $7.59, -5.95% over the last 5 days, +33.16% over the last year. Seanergy is known as a leading player in the global shipping industry, being the only pure-play Capesize ship owner publicly listed in the U.S. The company specializes in Capesize shipping, representing the largest dry bulk carriers globally. Seanergy’s operating fleet currently consists of 17 vessels (1 Newcastlemax and 16 Capesize), with an average age of approximately 12.7 years and an aggregate cargo-carrying capacity of approximately 3,054,820 deadweight tons (dwt). The company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece.

On Dec. 14, Seanergy announced that the Board of Directors of the Company (“BOD”) has authorized a new $25 million buyback program (the “Plan”) which can be utilized to repurchase the Company’s common shares and other securities. The Company will also fully repay its last remaining convertible note (the “Note”) pursuant to the terms of the Note. The Note bears a 5.5% coupon, it is the last from a series of convertible notes with aggregate original notional amount of $38.7 million and $3.2 million face value remains outstanding. The full repayment of the Note will preempt potential dilution upon conversion of the Note.


Brad Hansen CEO of Holu Hou Energy (HHE), a company that uniquely brings state-of-the-art renewable energy and energy storage systems to the Single-Family Residential, Multi-Dwelling Unit Residential, and Commercial building markets, presented at our sister organization’s Tribe Public Webinar Presentation and Q&A Event titled “Discover How Multi-Dwelling Units Are Profitably Implementing Solar Energy Today.” The event video has now been published at the Tribe Public YouTube Channel and can be view now by clicking on this link

Note that HHE was recognized as the 2023 winner of the Innovative Tech Company of the Year at the 13th annual Pacific Edge Business Achievement Awards Gala in Honolulu, Hawai’i. With operations in California, Hawai’i, Wisconsin, and Shanghai, HHE engineers proprietary storage system and control platform solutions, including a breakthrough HHE “EnergyCluster” technology that is key to the development of the Multi-Dwelling Unit Residential housing market that uniquely allows for sharing amongst local units of excess energy created by solar energy production. This technology uniquely solves the key problems for installing solar energy for MDU tenant units: tenant load variability and tenant churn. Thus, HHE is essentially good for all parties. It is a vital partner for investors and asset owners who are seeking MDU renewable energy solutions that create a new and significant multi-year revenue stream. For tenants, the adoption is non-disruptive and, in practice, allows for energy control and localized resiliency. 

On Nov. 2, Holu Hou Energy LLC announced that it is has closed a $20M construction financing facility in support of the construction of Hawaii’s largest solar and energy storage project pipeline. The funding will enable procurement of the materials and EPC resources to construct MDU projects slated for completion in the next 4-quarters. HHE’s EnergyCluster Technology has  reportedly enabled the Largest Non-Utility Solar Project Pipeline in Hawaii – Approaching $1.0 Billion in Value.

 
 
On Jan. 5, StoneCo received from the Brazilian Central Bank (“BCB”) the “Financeira” License, organized as a Sociedade de Crédito, Financiamento e Investimento (SCFI). This license will enable StoneCo, through its subsidiaries, to develop and offer a range of new products, such as time deposits, which shall enhance and diversify the funding sources of the Company.
 
On Dec. 18 StoneCo announced that it has obtained a commitment of US$467.5 million in the form of a revolving securitization facility from the United States International Development Finance Corporation (DFC), an agency of the United States government. The facility, which has a final maturity of seven years, and a six-month availability period, acquires accounts receivables due by over twenty different non-systemic important Brazilian financial institutions that are credit card issuers, on a non-recourse basis. It will further strengthen Stone’s ability to offer prepayment of receivables to micro, small, and medium-sized businesses (MSMBs), which use the solution to optimize cash flow, financial flexibility and improve management. The closing of the transaction is subject to customary conditions precedents.


NAYA Biosciences Inc. (“NAYA”), a company which has recently signed a definitive merger agreement with INVO Bioscience (NASDAQ: INVO) to establish an expanded, publicly-traded life science company dedicated to increasing patient access to breakthrough treatments in fertility, oncology, and regenerative medicine, and ONK Therapeutics (“ONK”), an innovative cell therapy company dedicated to developing the next generation of optimally engineered off-the-shelf natural killer (NK) cell therapies, today announced that they have entered into a research partnership to evaluate combination therapy consisting of NAYA’s FLEX-NK™ bispecific antibodies and ONK’s optimally engineered natural killer (NK) cells. Specifically, the partnership will explore the combination of NAYA’s GPC3-targeted NY-303 FLEX-NK™ bispecific antibody with ONK’s ONKT105, CISH + TGFβR2 double knock-out (KO), sIL-15 knock-in (KI) allogeneic NK cell therapy. NAYA’s CEO Dr. Daniel Teper stated, “We are impressed with the data ONK has generated using its differentiated editing of NK cells, which may further enhance the efficacy of our FLEX-NK™ bispecific antibodies. The future development of this combination therapy alongside our monotherapy clinical trials will help expand patient options and narrow the gap towards improving the long-term survival of patients with hepatocellular carcinoma.”

Naya announced on Dec. 11 that new data for its CD38-targeted Flex-NK™ Bispecific Antibody (NY-338, formerly CYT-338) for the treatment of Multiple Myeloma (MM) was published as an abstract in the 2023 American Society of Hematology’s (ASH) meeting supplement of Blood, in the “Multiple Myeloma: Prospective Therapeutic Trials” section. “NAYA is building a portfolio of differentiated clinical-stage oncology therapeutics, starting with two FLEX-NK™ bispecific antibodies acquired from Cytovia Therapeutics,” commented NAYA CEO Dr. Daniel Teper. “We are excited about this new data for our CD38-targeted antibody, which aims to address limitations with the current standard-of-care and offer new options for multiple myeloma patients.”

“The synergistic engagement of NK cells through NKp46 greatly enhances the immunotherapeutic effects of FLEX-NK™ bispecific antibodies, reducing NK cell fratricide, maintaining NK cell levels, and enhancing potency including reversal of NK cell dysfunction,” added Ola Landgren, MD, PhD, co-author of the abstract and Professor of Medicine, Chief of the Myeloma Division, and Leader of the Experimental Therapeutics Program at the University of Miami’s Sylvester Comprehensive Cancer Center. “The data supports initiation of clinical trials to evaluate this promising new therapy and makes it a potential best-in-class anti-CD38 therapeutic for multiple myeloma.”

Learn more about Naya by watching this Tribe Public video event titled “Accelerating Biotech Value Creation” Featuring NAYA Biosciences CEO Dr. Daniel Teper.



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 as we move forward!

Investing & Inspiration

  1. “Happiness is good health and a bad memory.” –  Ingrid Bergman
  2. “We pass through this world but once.” – Stephen Jay Gould
  3. “Christmas waves a magic wand over this world, and behold, everything is softer and more beautiful.” – Norman Vincent Peale
  4. “Nothing can have value without being an object of utility.” – Karl Marx
  5. “Always turn a negative situation into a positive situation.” – Michael Jordan
  6. “Courage is found in unlikely places.” – J. R. R. Tolkien
  7. “One that would have the fruit must climb the tree.” – Thomas Fuller
  8. “Someone is sitting in the shade today because someone planted a tree a long time ago.” – Warren Buffett
  9. “We relish news of our heroes, forgetting that we are extraordinary to somebody too.” – Helen Hayes
  10. “A life spent making mistakes is not only more honorable, but more useful than a life spent doing nothing.” – George Bernard Shaw
  11. “Everything in the world may be endured except continual prosperity.”  – Johann Wolfgang von Goethe
  12. “Nine-tenths of wisdom is being wise in time.” – Theodore Roosevelt
  13. “Time is money.” – Benjamin Franklin
  14. “Change before you have to.” – Jack Welch
  15. “Our deeds determine us, as much as we determine our deeds.” – George Eliot
  16. “The Universe is under no obligation to make sense to you.” – Neil deGrasse Tyson
  17. “Care and diligence bring luck.” – Thomas Fuller
  18. “Nobody made a greater mistake than he who did nothing because he could do only a little.” – Edmund Burke
  19. “A man who is a master of patience is master of everything else.” – George Savile
  20. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
  21. “Endurance is nobler than strength, and patience than beauty.” – John Ruskin
  22. “Act as if what you do makes a difference. It does.” – William James
  23. “Let us be grateful to people who make us happy, they are the charming gardeners who make our souls blossom.” –  Marcel Proust
  24. “Strength and growth come only through continuous effort and struggle.” – Napoleon Hill
  25. “Science may never come up with a better office communication system than the coffee break.” – Earl Wilson
  26. “If everyone is moving forward together, then success takes care of itself.” – Henry Ford
  27. “Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.”– Samuel Smiles
  28. “Patriotism is supporting your country all the time, and your government when it deserves it.” – Mark Twain
  29. “What would life be if we had no courage to attempt anything?” – Vincent Van Gogh
  30. “The biggest risk is not taking any risk… In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg
  31. “Our lives improve only when we take chances – and the first and most difficult risk we can take is to be honest with ourselves.” – Walter Anderson
  32. “Action is the foundational key to all success.” – Pablo Picasso
  33. “Success is never final, failure is never fatal. It’s courage that counts.” – John Wooden
  34. “Innovation distinguishes between a leader and a follower.” – Steve Jobs
  35. “All the art of living lies in a fine mingling of letting go and holding on.” – Havelock Ellis
  36. “The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.” – Robert Kiyosaki
  37. “O, wind, if winter comes, can spring be far behind?” – Percy Bysshe Shelley
  38. “Patience is a virtue, and I’m learning patience. It’s a tough lesson.” – Elon Musk
  39. “Be true to your work, your word, and your friend.” – John Boyle O’Reilly
  40. “Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy.” – Norman Vincent Peale
  41. “Surprise is the greatest gift which life can grant us.” – Boris Pasternak
  42. “Logic will get you from A to B. Imagination will take you everywhere.” – Albert Einstein
  43. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
  44. “Do exactly what you would do if you felt most secure.” – Meister Eckhart
  45. “Life lived for tomorrow will always be just a day away from being realized.” – Leo Buscaglia
  46. “Wisdom is oftentimes nearer when we stoop than when we soar.” – Wordsworth
  47. “Take chances, make mistakes. That’s how you grow. Pain nourishes your courage. You have to fail in order to practice being brave.” – Mary Tyler Moore
  48. “A single twig breaks, but the bundle of twigs is strong.” – Tecumseh
  49. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
  50. “There is little that can withstand a man who can conquer himself.” – Louis XIV
  51. “The limits of the possible can only be defined by going beyond them into the impossible.” – Arthur C. Clarke
  52. “Be faithful in small things because it is in them that your strength lies.” – Mother Teresa
  53. “The future rewards those who press on. I don’t have time to feel sorry for myself. I don’t have time to complain. I’m going to press on.” – Barack Obama
  54. “By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest.” – Confucius
  55. “No man was ever wise by chance.” – Lucius Annaeus Seneca
  56. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
  57. “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare
  58. “It does not matter how slowly you go as long as you do not stop.” – Confucius

  59. “I want to put a ding in the universe.” – Steve Jobs

  60. “Research is creating new knowledge.” – Neil Armstrong

  61. “The reward for work well done is the opportunity to do more.” – Jonas Salk
  62. “Man is a creative retrospection of nature upon itself.” – Karl Wilhelm Friedrich Schlegel
  63. “There’s something about taking a plow and breaking new ground. It gives you energy.” – Ken Kesey
  64. “Success seems to be largely a matter of hanging on after others have let go.” – William Feather

  65. “The essential conditions of everything you do must be choice, love, passion.” – Nadia Boulanger
  66. “More business is lost every year through neglect than through any other cause.” – Rose Kennedy

  67. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes

  68. “A person who won’t read has no advantage over one who can’t read.” – Mark Twain
  69. “The best way out is always through.” – Robert Frost

  70. “Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.” – Francis of Assisi
  71. “Without labor nothing prospers.” – Sophocles

  72. “Intellectuals solve problems, geniuses prevent them.” – Albert Einstein
  73. “This is the precept by which I have lived: Prepare for the worst; expect the best; and take what comes.” – Hannah Arendt

  74. “The best and most beautiful things in the world cannot be seen or even touched – they must be felt with the heart.” – Helen Keller

  75. “He who is brave is free.” – Lucius Annaeus Seneca
  76. “When something is important enough, you do it even if the odds are not in your favor.” – Elon Musk

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

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

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

  80. “Plans to protect air and water, wilderness and wildlife are in fact plans to protect man.” – Stewart Udall
  81. “In order to carry a positive action we must develop here a positive vision.” – Dalai Lama

  82. “A hero is someone who understands the responsibility that comes with his freedom.” – Bob Dylan
  83. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
  84. “If we give something positive to others, it will return to us. If we give negative, that negativity will be returned.” – Allu Arjun
  85. “A good plan violently executed now is better than a perfect plan executed next week.” ~ George S. Patton
  86. “You must do the things you think you cannot do.”- Eleanor Roosevelt
  87. “Success is dependent on effort.” – Sophocles
  88. “Nobody who ever gave his best regretted it.” – George Halas
  89. “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
  90. “And when I breathed, my breath was lightning.” – Black Elk
  91. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
  92. “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
  93. “If you want a guarantee, buy a toaster.” – Clint Eastwood
  94. “We are an impossibility in an impossible universe.” – Ray Bradbury
  95. “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
  96. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
  97. Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
  98. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
  99. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
  100. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
  101. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
  102. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
  103. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
  104. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
  105. “There is more to life than increasing its speed.” – Mahatma Gandhi
  106. “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
  107. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
  108. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
  109. “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
  110. “Life is too short for long-term grudges.” – Elon Musk
  111. There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
  112. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
  113. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
  114. “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
  115. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
  116. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
  117. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
  118. “Let there be work, bread, water and salt for all.” – Nelson Mandela
  119. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
  120. “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
  121. “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
  122. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
  123. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
  124. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
  125. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
  126. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
  127. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
  128. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
  129. “Delete the negative; accentuate the positive!” – Donna Karan
  130. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
  131. “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
  132. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
  133. “Everything has beauty, but not everyone sees it.” – Confucius
  134. 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
  135. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
  136. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
  137. “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
  138. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
  139. “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
  140. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
  141. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
  142. “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
  143. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
  144. “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
  145. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
  146. “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
  147. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
  148. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
  149. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
  150. “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
  151. “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
  152. “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
  153. “There is little that can withstand a man who can conquer himself.” – Louis XIV
  154. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
  155. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
  156. “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
  157. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
  158. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
  159. “Never do anything against conscience even if the state demands it.”– Albert Einstein
  160. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
  161. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
  162. “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
  163. “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
  164. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
  165. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
  166. “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
  167. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
  168. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
  169. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
  170. “The secret of getting ahead is getting started.” – Mark Twain
  171. “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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