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SAN DIEGO, Oct. 16, 2024 /PRNewswire/ — Kintara Therapeutics, Inc. (“Kintara”) KTRA, a biopharmaceutical company focused on the development of new solid tumor cancer therapies, today announced a correction to the press release previously issued by Kintara on October 16, 2024. Kintara announced today that its Board of Directors (the “Board”) has approved a reverse stock split of Kintara’s common stock at a ratio of 1-for-35. Kintara’s common stock is expected to begin trading on a post-reverse stock split basis on the Nasdaq Capital Market on October 18, 2024, under the new name TuHURA Biosciences, Inc. and under the new symbol “HURA” following the anticipated closing of the merger (the “Merger”) with TuHURA Biosciences, Inc. (“TuHURA”), with a new CUSIP number 898920 103. This press release corrects the previous announcement which contained a scrivener’s error stating Kintara’s common stock was expected to begin trading on a post-reverse stock split basis on October 17, 2024; as correctly stated above, Kintara’s common stock is expected to begin trading on a post-reverse stock split basis on October 18, 2024.

The reverse stock split was approved by Kintara’s stockholders at Kintara’s special meeting of stockholders held on October 4, 2024, to be effected in the Board’s discretion of not less than 1-for-20 and not more than 1-for-40. The final reverse stock split ratio of 1-for-35 was approved by the Board on October 4, 2024.

As a result of the reverse stock split, every thirty-five pre-split shares of Kintara’s common stock outstanding will become one share of common stock. The reverse stock split is expected to reduce the number of shares of Kintara’s outstanding common stock from approximately 55.6 million shares to approximately 1.6 million shares. The par value of Kintara’s common stock will remain unchanged at $0.001 per share after the reverse stock split. The reverse stock split will not change the authorized number of shares of Kintara’s common stock. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in Kintara’s equity, except to the extent that the reverse stock split results in some stockholders owning a fractional share. No fractional shares will be issued in connection with the reverse stock split. Instead, in lieu of any fractional shares to which a stockholder of record would otherwise be entitled as a result of the reverse stock split, Kintara will issue to such stockholder such additional fraction of a share as is necessary to increase such resulting fractional share to a full share of common stock. The reverse stock split will also apply to common stock issuable upon the exercise of Kintara’s outstanding warrants and stock options, with a proportionate adjustment to the exercise prices thereof, and under Kintara’s equity incentive plans.

Following the closing of the Merger, the combined company’s total outstanding common stock is expected to be approximately 42.0 million shares.

Equinity Trust Company, LLC is acting as the exchange agent and transfer agent for the reverse stock split. Stockholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the reverse stock split. Beneficial holders are encouraged to contact their bank, broker or custodian with any procedural questions.

About TuHURA Biosciences, Inc.

TuHURA Biosciences is a Phase 3 registration-stage immuno-oncology company developing novel technologies to overcome resistance to cancer immunotherapy. TuHURA’s lead personalized cancer vaccine candidate, IFx-2.0, is designed to overcome primary resistance to checkpoint inhibitors. TuHURA is preparing to initiate a single randomized placebo-controlled Phase 3 registration trial of IFx-2.0 administered as an adjunctive therapy to Keytruda^® (pembrolizumab) in first line treatment for advanced Merkel Cell Carcinoma.

In addition, TuHURA is leveraging its Delta receptor technology to develop novel bi-functional antibody drug conjugates (ADCs), targeting Myeloid Derived Suppressor Cells to inhibit their immune suppressing effects on the tumor microenvironment to prevent T cell exhaustion and acquired resistance to checkpoint inhibitors and cellular therapies.

For more information, please visit tuhurabio.com and connect with TuHURA on Facebook, X, and LinkedIn.

About Kintara Therapeutics, Inc.

Located in San Diego, California, Kintara is dedicated to the development of novel cancer therapies for patients with unmet medical needs. Kintara is developing therapeutics for clear unmet medical needs with reduced risk development programs. Kintara’s lead program is REM-001 Therapy for cutaneous metastatic breast cancer (CMBC).

Kintara has a proprietary, late-stage photodynamic therapy platform that holds promise as a localized cutaneous, or visceral, tumor treatment as well as in other potential indications. REM-001 Therapy, which consists of the laser light source, the light delivery device, and the REM-001 drug product, has been previously studied in four Phase 2/3 clinical trials in patients with CMBC who had previously received chemotherapy and/or failed radiation therapy. In CMBC, REM-001 has a clinical efficacy to date of 80% complete responses of CMBC evaluable lesions and an existing robust safety database of approximately 1,100 patients across multiple indications.

Kintara Therapeutics, Inc. is headquartered in San Diego, California. For more information, please visit www.kintara.com or follow us on X at @Kintara_Thera, Facebook and LinkedIn.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements based upon Kintara’s and TuHURA’s current expectations. This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by terminology such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “should,” “would,” “project,” “plan,” “expect,” “goal,” “seek,” “future,” “likely” or the negative or plural of these words or similar expressions. Examples of such forward-looking statements include but are not limited to express or implied statements regarding Kintara’s or TuHURA’s management team’s expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the proposed Merger and the expected effects, perceived benefits or opportunities and related timing with respect thereto, expectations regarding clinical trials and research and development programs, in particular with respect to TuHURA’s IFx-Hu2.0 product candidate novel bifunctional ADCs, and any developments or results in connection therewith; the anticipated timing of the results from those studies and trials; expectations regarding the use of capital resources, including the net proceeds from the financing that closed in connection with the signing of the definitive agreement, and the time period over which the combined company’s capital resources will be sufficient to fund its anticipated operations; and the expected trading of the combined company’s stock on the Nasdaq Capital Market. These statements are only predictions. Kintara and TuHURA have based these forward-looking statements largely on their then-current expectations and projections about future events, as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond each of Kintara’s and TuHURA’s control, and actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: (i) the risk that the conditions to the closing or consummation of the proposed Merger are not satisfied; (ii) uncertainties as to the timing of the consummation of the proposed Merger and the ability of each of Kintara and TuHURA to consummate the transactions contemplated by the proposed Merger; (iii) risks related to Kintara’s and TuHURA’s ability to correctly estimate their respective operating expenses and expenses associated with the proposed Merger, as applicable, as well as uncertainties regarding the impact any delay in the closing would have on the anticipated cash resources of the resulting combined company upon closing and other events and unanticipated spending and costs that could reduce the combined company’s cash resources; (iv) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the proposed Merger by either Kintara or TuHURA; (v) the effect of the announcement or pendency of the proposed Merger on Kintara’s or TuHURA’s business relationships, operating results and business generally; (vi) costs related to the proposed Merger; (vii) the outcome of any legal proceedings that may be instituted against Kintara, TuHURA, or any of their respective directors or officers related to the Merger Agreement or the transactions contemplated thereby; (vii) the ability of Kintara or TuHURA to protect their respective intellectual property rights; (viii) competitive responses to the proposed Merger; (ix) unexpected costs, charges or expenses resulting from the proposed Merger; (x) whether the combined business of TuHURA and Kintara will be successful; (xi) legislative, regulatory, political and economic developments; and (xii) additional risks described in the “Risk Factors” section of Kintara’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024, and the Registration Statement on Form S-4 related to the proposed Merger filed with the SEC. Additional assumptions, risks and uncertainties are described in detail in Kintara’s registration statements, reports and other filings with the SEC, which are available on Kintara’s website, and at www.sec.gov. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Neither Kintara nor TuHURA can assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. The forward-looking statements made in this communication relate only to events as of the date on which the statements are made. Except as required by applicable law or regulation, Kintara and TuHURA undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement.

INVESTOR INQUIRIES:
Robert E. Hoffman
Kintara Therapeutics
rhoffman@kintara.com

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SOURCE Kintara Therapeutics

The proliferation of artificial intelligence (AI) has increased the demand for more powerful chips that are being deployed in data centers to train complex large language models (LLMs), and also for moving those models into production through AI inference.

However, clustering together multiple powerful chips that consume a lot of electricity and generate a lot of heat also means that data centers now have two new challenges to tackle. The first is to find a way to reduce electricity consumption. Market research firm IDC anticipates that energy consumption in AI data centers is set to increase at an incredible compound annual growth rate of 45% through 2027.

The firm predicts that overall data center electricity consumption could more than double between 2023 and 2028. Meanwhile, Goldman Sachs forecasts that data center power demand could grow 160% by 2030, indicating that data center operators will have to shell out a lot of money on electricity.

The second problem that AI data centers are creating is that of higher heat generation. When multiple chips with high power consumption figures are deployed in AI server racks, it is inevitable for them to produce a lot of heat. Not surprisingly, there are concerns that AI data centers could have a negative impact on the climate and create more pressure on the electrical grid.

However, there are two companies that are looking to solve these challenges — Nvidia (NASDAQ: NVDA) and Super Micro Computer (NASDAQ: SMCI) — and check how their products could witness a nice jump in adoption to tackle the problem of rising heat and electricity generation in data centers.

1. Nvidia

Nvidia’s graphics processing units (GPUs) have been the chips of choice for AI training and inference. This is evident from the company’s 85%-plus share of the AI chip market. Nvidia’s chips have been deployed for training popular AI models such as OpenAI’s ChatGPT and Meta Platforms‘ Llama, and cloud service providers have been increasingly looking to get their hands on the company’s offerings to train even larger models.

One reason why that’s happening is because Nvidia’s AI chips are getting more powerful with each passing generation. For instance, the chip giant points out that its upcoming Blackwell AI processors allow organizations “to build and run real-time generative AI on trillion-parameter large language models at up to 25x less cost and energy consumption than its predecessor.”

More importantly, this remarkable reduction in energy consumption is accompanied by a 30 times increase in performance. So, AI models can not only be trained and deployed at a much faster pace now using Nvidia’s chips but the same can now be done with much less power consumption. For example, Nvidia points out that its Blackwell processors can train OpenAI’s GPT-4 LLM by consuming just 3 gigawatts of power as compared to a whopping 5,500 gigawatts which would have been required a decade ago.

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As such, it won’t be surprising to see Nvidia sustaining its lead in the market for AI chips as its processors are likely to be in high demand because of the cost and performance advantages. That’s the reason why analysts at Japanese investment bank Mizuho are forecasting Nvidia’s revenue to surpass $200 billion in 2027 (which will coincide with its fiscal year 2026).

That would be more than triple the company’s fiscal 2024 revenue of $61 billion. More importantly, Mizuho’s forecast indicates that Nvidia could easily surpass Wall Street’s estimates of $178 billion in revenue for fiscal 2026. As a result, Nvidia stock’s impressive surge seems sustainable, which is why investors would do well to buy it while it is still trading at a relatively attractive valuation.

2. Super Micro Computer

Server manufacturer Supermicro has received a lot of negative press of late. From a bearish report by short-seller Hindenburg Research alleging financial irregularities to a reported probe by the Department of Justice as claimed by the Wall Street Journal, investors have been panic-selling Supermicro stock. Additionally, the news of a delay in the filing of the company’s annual 10-K seems to have added to the bearishness.

However, investors should note that Hindenburg’s allegations are likely to be biased as the short-seller would have an interest in seeing Supermicro fall, and it remains to be seen if their points have any credibility. Additionally, there is no confirmation from the Justice Department if it is indeed probing Supermicro. Of course, Supermicro has a history of “improper accounting,” which is probably why investors have been panicking.

But at the same time, investors should note that nothing has been proven yet, nor is it certain there is a probe by the Department of Justice into the company. However, what’s worth noting is that Supermicro has been addressing the issue of higher heat generation in AI data centers with its liquid-cooled server solutions.

The stock popped significantly on Oct. 7 after it announced that it has shipped over 2,000 liquid-cooled server racks since June. Additionally, Supermicro points out that more than 100,000 GPUs are set to be deployed using its liquid cooling solutions on a quarterly basis. The company claims that its direct liquid-cooled server solutions can help achieve up to 40% energy savings and 80% space savings, which probably explains why its server racks are witnessing solid demand.

Even better, Supermicro management pointed out last year that it can deliver 5,000 liquid-cooled server racks per month, and it won’t be surprising to see its capacity utilization heading higher as data center operators look to reduce costs and energy consumption. After all, Supermicro says that the potential “40% power reduction allows you to deploy more AI servers in a fixed power envelope to increase computing power and decrease LLM time to train, which are critical for these large CSPs and AI factories.”

Meanwhile, the overall demand for liquid-cooled data centers is forecast to grow at an annual rate of over 24% through 2033, generating annual revenue of almost $40 billion in 2033 as compared to $4.45 billion last year. Supermicro has already been growing at an impressive pace and this new opportunity attributable to the higher heat and electricity generation in data centers could give it an additional boost.

Of course, investors would be looking for more clarity about the company’s operations following the recent developments, but one shouldn’t forget that Supermicro’s earnings are forecast to increase at an annual rate of 62% for the next five years. So, this AI stock should be on the radar of investors looking to make the most of the opportunity presented by the AI-related challenges discussed in this article.

Should you invest $1,000 in Nvidia right now?

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy.

Artificial Intelligence (AI) Energy Consumption Is Jumping At a Scary Pace: 2 Stocks That Could Surge Thanks to This Trend was originally published by The Motley Fool

A businessman who invested in the company that took former President Donald Trump’s social media company public was sentenced to 22 months in prison on Wednesday for insider trading related to the deal.

Gerald Shvartsman earned at least $4.6 million from trading on private information related to the merger between Digital World Acquisition Corp. and Trump Media & Technology Group, which owns social media platform Truth Social (DJT), according to Bloomberg.

Shvartsman and his brother Michael Shvartsman both copped to securities fraud charges in April. Another person involved in the insider trading, Bruce Garelick, was found guilty by a jury in May. Michael Shvartsman will face sentencing on Thursday, and Garelick will be sentenced on Nov. 7.

Prosecutors asked that Gerald Shvartsman receive at least two years in prison, saying he was guilty of “brazen corruption and greed.”

Shvartsman’s lawyers were hoping their client would get 18 months of probation. They wrote that their client “has lost his reputation and suffered humiliation both personally and professionally. He has lost significant amounts of business through the loss of banking, credit cards, customers and vendors,” according to CNBC. “His wife and children have suffered and there will continue to be huge collateral consequences of his actions, which is a significant punishment in and of itself,” his lawyers continued.

Trump Media (DJT) has had a volatile week. After a weekslong rally that saw shares roughly triple in value, the stock took an 8% nosedive Tuesday afternoon but rallied Wednesday, increasing 13% by the afternoon. Shares of the company behind Truth Social were trading at $30.78 as of Wednesday afternoon.

This see-sawing comes just weeks before the presidential election, which will see Trump face off against Democratic presidential candidate and Vice President Kamala Harris at the ballot box.

Trump is a majority shareholder of Trump Media, holding roughly 57% of the company’s stock — and he has said he has no plans to let go of his holdings. The stock’s recent rally has added billions to Trump’s net worth.

–Additional reporting by Rocio Fabbro.

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Despite a few hiccups now and then, the market has been surging over the last two years. The S&P 500 (SNPINDEX: ^GSPC) is up by nearly 63% since it bottomed out in October 2022 and doesn’t appear to be slowing down.

That said, the market can’t continue thriving forever. While no one can say exactly when the next downturn will strike, a bear market is certain to arrive eventually.

While that can be stressful for investors, right now is a fantastic time to start preparing while the market is still surging. Everyone’s strategy will be different, but there are three simple steps I’m taking right now to ensure my investments are set up for success no matter what happens with the stock market.

1. I’m padding my emergency fund

Building an emergency fund may not seem like an investment strategy, but it can help protect your portfolio if stock prices fall.

One of the worst investing moves you can make is withdrawing your money after the market has already fallen. By selling your stocks at prices lower than what you paid for them, you’ll end up locking in those losses and potentially losing a lot of money.

However, emergencies will still happen, even if the market’s in a rough place. By having at least three to six months’ worth of savings stashed in an emergency fund, you can avoid pulling cash from your investment account if you face an unexpected expense.

2. I’m continuing to invest consistently

No matter what the market’s doing, it can be tempting to try to invest at just the right time to maximize earnings. If a bear market is on the horizon, it may make sense to hold off on investing until prices fall. While that may sound like a smart strategy, waiting too long to buy could cost you.

Nobody knows how long this bull market might last. The average bull market between 1929 and 2023 has lasted just over 1,000 days, according to data from Bespoke Investment Group, or around two years and nine months. But it’s not unheard of for market surges to last far longer than that. The bull market following the Great Recession, for example, lasted nearly 11 years.

If you stop investing now because a bear market may be coming, you could miss out on serious earnings. The market could have many more months or even years of growth ahead, and continuing to invest consistently will help you take full advantage of it.

3. I’m looking for new buying opportunities

Bear markets can be daunting, but they’re also incredible buying opportunities since the market is essentially on clearance. Right now, then, can be a smart time to create a list of stocks you’re ready to pounce on if their prices drop during the next bear market.

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This doesn’t necessarily mean you shouldn’t buy these stocks now. Again, investing consistently is the key to maximizing your long-term earnings. But bear markets can be a smart time to buy more shares than you generally would during a bull market when prices are higher.

The advantage of looking for these buying opportunities now is that you can research stocks while your head is clearer. It can be stressful trying to decide where to buy while prices are falling, making it more tempting to buy a stock simply because it’s more affordable — even if it isn’t a strong investment. When you already have a list of stocks you’ve researched thoroughly, you can jump on the opportunity immediately.

The market can be unpredictable, and it’s unclear when the next bear market will hit. But the more you prepare now, the better off you’ll be when it inevitably begins.

Should you invest $1,000 in S&P 500 Index right now?

Before you buy stock in S&P 500 Index, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and S&P 500 Index wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $846,108!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.

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Katie Brockman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

A Bear Market Is Coming Eventually. 3 Investing Moves I’m Making Right Now to Prepare. was originally published by The Motley Fool