The Dow Jones index closed lower by around 0.2% on Tuesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.
PodcastOne
The Trade: PodcastOne, Inc. PODC Director D Jonathan Merriman bought a total of 10,000 shares at an average price of $1.60. To acquire these shares, it cost around $16,000.
What’s Happening: On Sept. 9, PodcastOne named Steve Lehman Vice Chairman to Drive its mergers, acquisitions and strategy efforts.
What PodcastOne Does: PodcastOne Inc is a podcast platform and publisher that makes its content available to audiences via all podcasting distribution platforms, including its website, its PodcastOne app, Apple Podcasts, Spotify, Amazon Music, and more.
P3 Health Partners
The Trade: P3 Health Partners Inc. PIII 10% owner CPF III-A PT SPV, LLC acquired a total of 90,000 shares at an average price of $2.52. To acquire these shares, it cost around $227,142.
What’s Happening: On Aug. 7, P3 Health Partners posted downbeat quarterly earnings.
What P3 Health Partners Does: P3 Health Partners Inc is a patient-centered and physician-led population health management company.
Brightcove
The Trade:Brightcove Inc. BCOV 10% owner Jonathan Brolin acquired a total of 16,830 shares at an average price of $2.04. The insider spent around $34,355 to buy those shares.
What’s Happening: On Aug. 7, Brightcove posted upbeat quarterly results.
What Brightcove Does: Brightcove Inc is a provider of cloud-based streaming technology and services.
DENVER, Sept. 10, 2024 (GLOBE NEWSWIRE) — Toll Brothers, Inc.TOL, the nation’s leading builder of luxury homes, today announced its newest community, Toll Brothers at Cherry Creek Trail, is coming soon to Scott Avenue off of South Parker Road in Parker, Colorado. Construction of the Sales Center and model homes is currently underway and sales will begin in early 2025.
Toll Brothers at Cherry Creek Trail will include 102 home sites, offering an elevated selection of ranch-style home designs with unrivaled personalization options. Residents will enjoy a seamless blend of nature and the elegance of mid-century modern architectural style with four home designs ranging from 1,746 to 2,118+ square feet, each built with the outstanding quality, craftsmanship, and value for which Toll Brothers is known. Homes will be priced from the low $700,000s.
“With distinctive architectural features and ranch-style floor plans designed for today’s home buyers, the new homes at Toll Brothers at Cherry Creek Trail will offer residents the best in luxury living in one of Parker’s most desirable communities,” said Reggie Carveth, Division President of Toll Brothers in Colorado.
Home buyers will have access to exclusive amenities, including pickleball courts, walking trails, and direct access to the Cherry Creek Trail. Surrounded by shops, restaurants, golf courses, and more, the area offers an array of recreation and entertainment opportunities. Children will have the opportunity to attend school in the highly ranked Douglas County School District.
Major highways including Interstates 25 and 70, and Highways 83 and E-470 are easily accessible from Toll Brothers at Cherry Creek Trail, offering homeowners convenient access to Denver Tech Center, Inverness Tech Center, and Downtown Castle Rock.
For more information on Toll Brothers new home communities in Colorado, call (877) 431-2870 or visit TollBrothers.com/Colorado.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.
In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired Companies™ list and the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
(Reuters) -GameStop said on Tuesday it had filed for an offering of up to 20 million shares, sending its stock down more than 10% in extended trading after the videogame retailer’s second-quarter revenue fell as consumers continued to switch to online buying.
The company, which has been at the center of a “meme stock” trading frenzy, is struggling with declining sales in its primary business of selling new and used video game discs due to a shift to digital downloads, game streaming, and e-commerce shopping.
GameStop said it intends to use the proceeds from the offering “for general corporate purposes, which may include acquisitions and investments in a manner consistent with our investment policy.”
The company is also identifying stores for closure and expects to shut down more outlets than it did in the past few years, it said on Tuesday, in-line with comments made by CEO Ryan Cohen in June.
Cohen warned of intense competition in the gaming console market earlier this year.
Analysts at Wedbush said on Friday GameStop continues to face a near insurmountable barrier to its planned return to growth as streaming services proliferate, while the company shows a total lack of any strategy to enter new categories with growth potential.
Shares of GameStop have seen significant volatility this year after online stock influencer Roaring Kitty returned to X.com following a three-year hiatus, with a cryptic meme that was widely seen as a bullish signal for GameStop.
Roaring Kitty was a key player in the 2021 rally in GameStop and other so-called meme stocks that was fueled by individual investors on Reddit’s WallStreetBets forum.
GameStop reported revenue of $798.3 million for the quarter ended Aug. 3 compared with $1.16 billion a year earlier. Two analysts polled by LSEG were expecting revenue of $895.7 million.
Its net income stood at $14.8 million, or 4 cents per share, compared with a loss of $2.8 million, or 1 cent per share, a year earlier. This was helped by a 16% fall in the company’s selling and administrative expenses in the quarter.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Shinjini Ganguli)
SOUTH SAN FRANCISCO, Calif., Sept. 11, 2024 (GLOBE NEWSWIRE) — Sutro Biopharma, Inc. (Sutro or the Company) STRO, a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today announced that it will host a Research Forum to highlight its pipeline of next-generation ADCs. The live webcast will be held on Thursday, October 10, 2024, starting at 1:30 p.m. PT / 4:30 p.m. ET.
An archived replay of the webcast will be available on the Company’s website following the live presentation.
About Sutro Biopharma Sutro Biopharma, Inc., is a clinical-stage company relentlessly focused on the discovery and development of precisely designed cancer therapeutics, to transform what science can do for patients. Sutro’s fit-for-purpose technology, including cell-free XpressCF®, provides the opportunity for broader patient benefit and an improved patient experience. Sutro has multiple clinical stage candidates, including luveltamab tazevibulin, or luvelta, a registrational-stage folate receptor alpha (FolRα)-targeting ADC in clinical studies. A robust pipeline, coupled with high-value collaborations and industry partnerships, validates Sutro’s continuous product innovation. Sutro is headquartered in South San Francisco. For more information, follow Sutro on social media @Sutrobio, or visit www.sutrobio.com.
Contact
Emily White
Sutro Biopharma
(650) 823-7681
ewhite@sutrobio.com
DA NANG, Vietnam, Sept. 10, 2024 /PRNewswire/ — Nestled along the serene shores of Non Nuoc Beach, Danang Marriott Resort & Spa, Non Nuoc Beach Villas has quickly become a haven for families seeking tranquility, relaxation, and peace by the sea. As the resort marks its first anniversary this September, guests can look forward to a series of exciting events, special deals, and more.
Since its revamp, Danang Marriott Resort & Spa, Non Nuoc Beach Villas has welcomed guests to experience the perfect blend of comfort and elegance. Tailored to offer a unique family-friendly orientation, the property ensures that every member of the family enjoy the best that resort needs to offer.
Cultural Enrichment and Family Activities
Danang Marriott Resort & Spa, Non Nuoc Beach Villas is one of the Marriott hotels welcome esteemed guests with complimentary M Passport program for kids. This innovative program offers 12 activities focused on the body, mind and heart, ensuring that youngsters have a fun and enriching experience during their stay. Activities include traditional Vietnamese crafts, beach dance, flower making, and nature exploration, allowing children to learn about and appreciate the local culture. For each activity, the little angels can collect a stamp and get exhilarating treats along the way.
Families can also participate in tours of nearby cultural sites, such as the Marble Mountains and ancient Hoi An, providing opportunities to explore and learn together. The resort’s dedicated team organizes beach games, family wellness sessions, and evening move night, creating a perfect blend of relaxation and adventure.
Luxurious Villas and Family-Friendly Amenities
The resort features a range of beautifully designed villas, from spacious 2 Bedroom Villas to exclusive 4 Bedroom Pool Villas, each just steps away from the ocean. These villas provide breathtaking views and direct beach access, making them ideal for families looking to create unforgettable memories.
Celebrating a Year of Wonderful Journey
The journey to this milestone has been filled with joy and memorable experiences, and the resort is eager to share this celebration with its guests.
Book from now and enjoy complimentary breakfast, accompanying afternoon tea and 60 minute spa treatment at Danang Marriott Resort & Spa, Non Nuoc Beach Villas with SPA & SAVOR offer
About Danang Marriott Resort & Spa, Non Nuoc Beach Villas
Located in the heart of Da Nang, the Danang Marriott Resort & Spa, Non Nuoc Beach Villas is a luxurious retreat with modern design. The resort’s lush gardens, pristine beach, and world-class amenities make it the perfect destination for a relaxing and rejuvenating getaway.
A look at the day ahead in European and global markets from Ankur Banerjee
Investors broadly took the U.S. presidential debate between Donald Trump and Kamala Harris in stride where details were scarce but jabs aplenty. The spotlight though belonged to Taylor Swift, who right after the debate endorsed Harris.
Asian markets were broadly lower and U.S. stock futures slipped, with the dollar on the back foot as both candidates clashed over issues such as immigration, foreign policy and healthcare, but the debate was light on specific policy details.
Online prediction market PredictIt’s 2024 presidential general election market showed Trump’s likelihood of victory declining after the debate, to 48% from 52%. Harris’ odds improved to 56% from 53%.
All that has meant investors will remain jittery till the November election as they try to gauge the economic policies from both candidates and ascertain who may yet win.
The focus for markets now shifts to the U.S. inflation reading later in the day, although the U.S. central bank has made it clear employment has taken on a greater focus than inflation.
While the Federal Reserve is likely to cut rates next week, there is fair amount of uncertainty around the size of the cut. Markets are pricing in one out of three chances of a 50 basis point cut and anticipate 114 bps of easing this year.
Futures indicate European bourses are due for a lower open as traders, with not a lot of economic data in the day, will likely focus on Fed moves ahead of the European Central Bank meeting on Thursday where it is expected to cut rates.
Meanwhile, the yen surged to an eight-month high after a boost from Bank of Japan board member Junko Nakagawa, who reiterated in a speech on Wednesday that the central bank would continue to raise rates if the economy and inflation move in line with its forecasts.
Key developments that could influence markets on Wednesday:
Economic events: UK GDP estimate for July and UK Industrial and manufacturing output for July; US inflation report
(By Ankur Banerjee; Editing by Muralikumar Anantharaman)
Since 2024 began, hype surrounding the artificial intelligence (AI) revolution has played a major role in lifting Wall Street’s three major stock indexes to multiple record-closing highs. But AI isn’t the only trend pushing the broader market higher. The euphoria surrounding stock splits has played an equally important role.
A stock split allows publicly traded companies to adjust their share price and outstanding share count by the same factor, without altering their market cap or underlying operating performance. It’s a purely cosmetic maneuver that can have important consequences.
Image source: Getty Images.
There are two varieties of stock splits, with investors decisively favoring one over the other. A reverse-stock split is geared at increasing a company’s nominal share price, usually with the goal of ensuring it meets minimum continued listing standards for a major stock exchange. Conversely, a forward-stock split is designed to reduce a company’s share price to make it more nominally affordable for everyday investors who can’t purchase fractional shares through their broker.
Generally speaking, reverse splits are conducted by struggling businesses whose share price is floundering. Comparatively, companies completing forward splits are typically out-innovating and out-executing their peers. Unsurprisingly, most investors tend to focus on high-flying companies enacting forward splits.
Since late January, 13 prominent businesses have announced or completed a stock split — 12 of which are of the forward-split variety — including AI darlingsNvidia, Broadcom, and Super Micro Computer.
But it’s the lone high-profile reverse-stock split that deserves the attention of Wall Street and investors today.
The most-awaited reverse-stock split of 2024 is now complete
In mid-December, Sirius XM Holdings(NASDAQ: SIRI) and Liberty Media’s Sirius XM tracking stock, Liberty Sirius XM Group(NASDAQ: LSXMA)(NASDAQ: LSXMB)(NASDAQ: LSXMK), announced their intention to merge into a single class of shares. Liberty Media is the majority stakeholder in Sirius XM, and the variance in the price between Liberty Sirius XM Group’s three classes of shares and the share price for Sirius XM stock has been head-scratching at times.
SIRI Chart
Last week, the final exchange ratio for this merger was announced, with Liberty Sirius XM Group stakeholders redeeming their shares “in exchange for 0.8375 of a share of common stock of New Sirius.” Liberty Sirius XM Group stopped trading after the close of business yesterday, Sept. 9, which means today, Sept. 10, marks the first day of a single, non-confusing, class of Sirius XM shares.
But there’s more to this combination than just getting the exchange ratio correct and ending the confusion of multiple shares classes.
In mid-June, Sirius XM announced that, upon consummation of the merger with Liberty Sirius XM Group, a 1-for-10 reverse-stock split would be conducted. This reverse split, which is now complete, has reduced the company’s outstanding share count from well over 3 billion to an estimated 339.1 million shares.
What makes this reverse-stock split so unique is that it’s not being executed out of weakness. In other words, Sirius XM was in no danger of delisting from the Nasdaq stock exchange.
Instead, it was enacted to increase its share price from the $3 to $6 range that it’s hovered around for years to one that’s more likely to attract institutional investors. Some money managers will avoid stocks priced below $5 for fear of increased volatility. Sirius XM’s 1-for-10 reverse split eliminates this minor concern and should put the company back on the radar of top-tier money managers.
Image source: Sirius XM Holdings.
Sirius XM is a screaming bargain for opportunistic long-term investors
In addition to being Wall Street’s only high-profile reverse-stock split of 2024, Sirius XM Holdings is, arguably, the top bargain among the 13 companies to have announced or completed a split this year.
Though I’ll get to the figures that qualify Sirius XM as a “screaming bargain” in a moment, let me walk you through a few of the competitive advantages that make it a stock you can safely own for years to come.
To begin with, it’s the only licensed satellite-radio operator. While this doesn’t mean it’s devoid of competition, it does convey that Sirius XM is a legal monopoly. As such, it affords the company exceptional pricing power with its monthly and annual subscriptions.
Another advantage to Sirius XM’s operating model is its cost structure. While some of its expenses, such as royalties and talent acquisition, are going to fluctuate from quarter to quarter, transmission and equipment expenses typically don’t change, regardless of how many subscribers the company has. If Sirius XM can expand its subscriber base, it should have a clear path to improve its operating margin over time, largely thanks to some of its costs being highly transparent and predictable.
A third competitive edge Sirius XM holds over traditional radio operators is the path by which revenue is generated. Online and terrestrial radio providers are overwhelmingly reliant on advertising to pay the bills. While this strategy works well during lengthy periods of economic expansion, it can lead to some big question marks when recessions inevitably occur.
Sirius XM has brought in less than 20% of its sales through the first six months from advertising. Comparatively, almost 77% of its revenue can be traced to subscriptions. There’s a considerably lower likelihood of satellite-radio subscribers cancelling their service during a recession than there is of businesses cutting their ad spending. This tends to lead to more predictable cash flow for Sirius XM in any economic climate.
With these competitive advantages in mind, let me now address how historically cheap Sirius XM’s stock is. Based on where shares closed on Sept. 6, Sirius XM can be scooped up by opportunistic long-term investors for 8.3 times forward-year earnings. This represents a 53% discount to its average forward price-to-earnings (P/E) multiple over the trailing-five-year period, and is a stone’s throw away from its lowest forward P/E multiples since going public in September 1994.
Sirius XM is historically cheap relative to its cash flow generation, too. Its multiple of 5.6 times forecast operating cash flow in the current year (2024) equates to a 43% discount to its average price-to-cash-flow multiple over the last five years.
Tack on a sustainable 3.9% yield for good measure, and you have a screaming bargain that also happens to be Wall Street’s most-anticipated reverse-stock split of 2024.
Should you invest $1,000 in Sirius XM right now?
Before you buy stock in Sirius XM, 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 Sirius XM 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 $630,099!*
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. TheStock Advisorservice has more than quadrupled the return of S&P 500 since 2002*.
Sean Williams has positions in Sirius XM. The Motley Fool has positions in and recommends Nvidia. The Motley Fool recommends Broadcom and Nasdaq. The Motley Fool has a disclosure policy.
LONDON (Reuters) -U.S. stock futures faltered and the dollar was on the defensive on Wednesday, while bond prices rallied, as markets reacted to a U.S. presidential debate in which Vice President Kamala Harris put Republican Donald Trump on the defensive.
The presidential hopefuls battled over abortion, the economy, immigration and Trump’s legal woes at their combative first debate, leaving investors skittish ahead of U.S. inflation data that could influence the Federal Reserve’s policy moves next week.
U.S. Treasury and Euro zone government bond yields dipped, as Democrat candidate Harris’s robust showing fuelled expectations of a decline in interest rates, whereas investors expect higher spending that would boost rates if Trump wins.
Bond yields move inversely to prices.
Ten-year Treasury yields declined to a session trough of 3.609%, the lowest since June 2023, while Germany’s 10-year yield, the benchmark for the euro zone bloc, fell 2.5 basis points (bps) to 2.12%, a fresh one-month low.
Harris’ late entry in the presidential race after President Joe Biden’s withdrawal in July has tightened the race, and her strong debate performance continued a reversal of trades that were put in place on expectations of a second Trump presidency.
S&P 500 futures eased 0.36% and MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.3%.
European shares were the bright spot, with the pan-European STOXX 600 index was edging up 0.07%, boosted by the oil and gas sectors on concerns that Hurricane Francine would disrupt output in the U.S.
Investors were focusing on fiscal policies and plans for the economy from the candidates but the presidential debate was light on details, although betting markets swung in Harris’ favour after the event. In a boost to the Harris campaign, pop megastar Taylor Swift said she would back Harris in the Nov. 5 election.
“With the dust settling on the Trump vs Harris presidential debate, it’s clear that the market saw this debate going to Kamala Harris,” said Chris Weston, head of research at Pepperstone.
“This debate was never going to be an exercise in digging deep into the weeds and into the granularity of the respective policies, and we’re certainly not significantly wiser on that front.”
The dollar index, which measures the U.S. currency against six peers, was down 0.3% at 101.39.
“You’d expect if he (Trump) was doing better, that you’d see a strong dollar coming out of this. So I suppose that’s the way the market is looking at it. It’s a slight lean towards Harris,” said Rob Carnell, ING’s regional head of research for Asia-Pacific.
The yen strengthened more than 1% to 140.71 per dollar, the highest since late December, boosted also by comments from Bank of Japan board member Junko Nakagawa.
Nakagawa reiterated in a speech that the central bank would continue to raise interest rates if the economy and inflation move in line with its forecasts.
Shares of U.S. cryptocurrency and blockchain-related companies declined in premarket trading, tracking losses in bitcoin which fell 2%. Speaking at the Bitcoin 2024 convention in Nashville in July, Trump had positioned himself as the pro-cryptocurrency candidate.
INFLATION WATCH
Investors are now focusing on the U.S. Labor Department’s consumer price index report later on Wednesday for policy clues, although the Federal Reserve has made it clear employment has taken on a greater focus than inflation.
The headline CPI is expected to have risen 0.2% on a month-on-month basis in August, according to a Reuters poll, unchanged from the previous month.
While the Fed is widely expected to cut interest rates next week, the size of the rate cut is still up for debate, especially after a mixed labour report on Friday failed to provide clarity on which way the central bank could go.
“What we needed to see to spur the Fed into greater action would be much more obvious evidence of slowdown/recession, and in particular in the labour market. And I don’t think we saw that in the last payrolls report,” said ING’s Carnell.
Markets are currently pricing in a 65% chance of the U.S. central bank cutting rates by 25 basis points, while a 35% chance is ascribed for a 50 bps cut when the Fed delivers its decision on Sept. 18, CME FedWatch tool showed.
In commodities, oil prices gained after dropping over 3% in the previous session, as a drop in U.S. crude inventories and concern about Hurricane Francine disrupting U.S. output countered concerns about weak global demand.[O/R]
Brent crude futures rose 1.47% to $70.21 a barrel, and U.S. West Texas Intermediate (WTI) crude rose 1.73% to $66.88.
(Reporting by Ankur Banerjee and Lawrence White; Editing by Shri Navaratnam, Jacqueline Wong and Kim Coghill)
Shares of ExxonMobil(NYSE: XOM) were falling this morning and were down 3.1% as of 11:50 a.m. ET Tuesday, wiping out all of their gains and some from the previous day. Although the oil and gas stock typically mirrors movements in crude oil prices, there’s another reason why ExxonMobil was falling today.
Oil price volatility is hurting investor sentiment
Crude oil prices tumbled Tuesday morning after OPEC cut its global oil demand forecast for 2024 to about 2 million barrels per day (BPD), or roughly 80,000 BPD lower than its previous forecast. OPEC also revised its forecast for oil demand for 2025. Brent crude, the global oil price benchmark, slumped more than 3% this morning and slipped below the $70 mark to a low it hasn’t seen in more than a year. As one of the world’s largest oil producers, ExxonMobil’s earnings and cash flows are bound to be hit when oil prices dip.
Meanwhile, ExxonMobil has reportedly pulled out of a race to buy a stake in a promising oil discovery in Namibia, according to Reuters. ExxonMobil is among the several global oil and gas giants eyeing a piece of Galp Energia‘s asset. Galp owns an 80% stake in an oil block in the Orange Basin, a region where several oil large discoveries have been reported in recent years.
What should you do with ExxonMobil stock now?
On one hand, OPEC’s demand for oil is weakening. On the other, speculation is rife that the OPEC+ producers will likely hike production in the coming months. The two factors combined could continue to put pressure on oil prices, and therefore, ExxonMobil stock.
However, the last thing you should do now is panic-sell ExxonMobil stock. ExxonMobil has navigated some of the worst oil storms in the 135 years or so of its existence and has built a fortress of a balance sheet. The oil giant has increased its dividend for 41 consecutive years and should still be able to offer you a bigger dividend this year and beyond even if oil prices drop further. In fact, ExxonMobil is a rock-solid dividend stock to buy on all dips.
Should you invest $1,000 in ExxonMobil right now?
Before you buy stock in ExxonMobil, 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 ExxonMobil 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 $652,404!*
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. TheStock Advisorservice has more than quadrupled the return of S&P 500 since 2002*.
Neha Chamaria 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.
JACKSON CENTER, Pa., Sept. 11, 2024 (GLOBE NEWSWIRE) — Halberd Corporation HALB, in coordination with Athena Telemedicine Partners (ATP) and Athena GTX, Inc., is pleased to announce a substantial contract award commitment. Defense Atomics Corporation agreed to engage with the Halberd/Athena teams and to fund key advanced research, including the pending FDA IND study utilizing Halberd’s LDX technology and Athena Corporation’s WatchDawg™ monitoring technology.
Defense Atomics Corporation agreed to use its proprietary CRISPR/Nanotechnology Stem Cell treatment for PTSD/TBI in a minimum of 10 paid veterans in a government pilot study of this cutting-edge protocol. Based on Defense Atomics’ success using CRISPR methodology with overseas patients, this study is intended to substantiate the benefits of this technology in conjunction with Halberd/Athena’s LDX PTSD and TBI/Brain Injury protocol.
“While we have observed statistically compelling results in PTSD/TBI management using CRISPR,” says CEO Dr. Gabe Vlad of Defense Atomics Corp., “the ability to significantly integrate our treatment protocols with those of Halberd/Athena’s medication and monitoring technologies is quite attractive. The WatchDawg monitoring allows us to acquire near real time (NRT) objective data with respect to the administration of CRISPR. From the preliminary data, there’s no question that the LDX formulation adds clear adjunctive relief.”
Dr. Mark Darrah, of Athena GTX added: “The early results of WatchDawg in LDX therapy are compelling and show that dovetailing therapies of many different forms with real data in brain health studies may hold the key to FDA clearance.” He added, “It is much harder to argue against near real time data as opposed to mere recollections of subjective observations alone.”
“We look forward to expanded use of LDX, and now that we can actually see the results documented by the WatchDawg technology in military veterans, the benefit in many modalities is limitless,” says CEO of Halberd Corporation, William A. Hartman. Hartman continued, “Having commercial packaging of LDX and potentially CRISPR will allow us to market to physician groups even without formal FDA approval under current compounding laws, particularly with our access to, and relationships with, reputable and qualified compounding facilities. This product is useful for myriad disorders from PTSD, anxiety, depression, anger and addiction, to Chronic Covid, Alzheimer’s, Chronic Kidney Disease (CKD), diabetes, and others. It has been shown to be remarkably without side-effects. These benefits are unique and extremely important to a successful endeavor. We now have a large quantity of commercially available product (LDX), enabling our team to aggressively market LDX to physician groups, hospitals, rehab centers…and something we haven’t discussed and will expand on shortly, animal hospitals and clinics. This finally gives us great potential for real income and a go-to-market capability with actual product. This cannot at this point go directly to consumers, and must go through physicians, which is a potential market. Until then, the physician will be highly incentivized to utilize LDX, so that’s a plus.”
“While CRISPR is limited in FDA usage in the United States,” ATP’s Dr. Richard Goulding explains, “the FDA is looking for well-conceived studies to prove efficacy, particularly in areas where little to no other remedy is offered (Right to Try). LDX alone should be a go-to adjunct to all patients with anxiety and PTSD,” says Dr. Goulding, adding, “we welcome the opportunity to clinically verify it.”
Dr. Vlad added: “I have analyzed the preliminary data offered by the first tranche of patients from the WatchDawg pilot study, and realized that this is clearly the best fit for further research and justification for our CRISPR technology to be used in PTSD and those suffering brain injury. With WatchDawg, we can prove efficacy, or at least support it, all while demonstrating safety and efficacy from initial therapeutic intervention forward. What’s exciting to me is the ability to see, thanks to the WatchDawg monitoring technology, real-time therapeutic effects on the individual. With WatchDawg, we would know immediately when something is working or not working, while quantitatively providing real-time data. That’s a game changer. We have recently been awarded significant cash contracts and are thrilled to be able to have the funds to engage in this exciting trial with our new partners. Helping veterans suffering from suicidal ideation and PTSD has always been my fondest wish, especially since I am myself a veteran.”
Dr. Vlad reports that “Defense Atomics Corp. successfully engineered specialty proprietary stem cells for this endeavor. Essentially what CRISPR does is to collect and utilize the patient’s own blood and performs an extremely unique proprietary gene-editing process combined with stem cells to facilitate their goals. Historical results on patients have been quite compelling. I am committed to funding this study with Halberd/Athena. There are still significant regulatory hurdles to overcome, but we have the right personnel on board now to navigate these hurdles. Obviously, the key is to get the FDA the data and information they need to move this treatment forward. We also want veterans suffering from PTSD to have LDX available to them at low cost, so their medical teams can procure it from our existing charity, Stemofhope.com, since we have a commercial quantity of LDX available and all of the high-tech products utilized in the WatchDawg program monitoring platforms.”
How large is the Market?
Databridgemarketresearch.com reports the global market for Post-Traumatic Stress Disorder (PTSD) treatments experienced steady growth. As of 2022, the market was valued at approximately $750.3 million and is projected to reach about $1.04 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.1%. Grandviewresearch.com estimates the market size at $915.5 million in 2021, with an expected CAGR of 4.7% from 2022 to 2030. The PTSD market’s expansion is driven by factors such as the increasing prevalence of PTSD, rising awareness and diagnosis rates, and ongoing research and development for new treatments. CRISPR tuned into this need. The demand for better therapeutic options also contributes to this growth. This the new partnership is excitingly dialed in on the market projections and technology demands and poised to prove the efficacy of the multiplicity of treatment modalities. Indeed, knowing that some approaches may better suit some patients, this particular combination of efficacious approaches should inevitably enhance the prospects for success.
The global market for Traumatic Brain Injury (TBI) treatments and management devices is even more substantial and growing at a faster rate, as we discover that the number of victims is far greater than we thought. As of 2022, the market for TBI assessment and management devices according the grandviewresearch.com was valued at approximately $3.09 billion and is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030.
In terms of TBI treatments, the market as described by databridgemarketresearch.com was valued at around $3.46 billion in 2022 and is projected to reach approximately $5.53 billion by 2030, with a CAGR of 6.2% during the forecast period. Marketdataforecast.com bolstered these numbers reporting that the market could grow from $1.88 billion in 2024 to $2.90 billion by 2029, reflecting a CAGR of 9.12%.
The growth in this market is driven by factors such as the increasing prevalence of TBIs, advancements in medical technology, and rising awareness about alternatives in brain injury treatments. “Additionally, the demand for minimally invasive procedures and growingly more supportive government policies on revolutionary treatments and monitoring technologies are contributing to this expansion. Again, by dialing into these needs and demands we feel the technology of CRISPR and WatchDawg (which of course includes the LDX therapy) packaged together offer an exciting future,” relayed Athena GTX’s CEO, Dr. Mark Darrah.
About Defense Atomics Defense Atomics engages in advanced research and development for the defense aerospace industry. It is involved in nanotechnology, aerospace engineering, algorithm design and graphene research and development for aerospace systems, body armor, batteries. It is headed by PhD Dr Gabe Vlad who holds numerous patents and performed advanced research and development for a large number of government contracts mostly focused on aerospace, weapons systems, nanotechnology and other secret/classified systems. Nanotechnology expertise is an integral part of CRISPR technology. His government contacts make him a particularly valuable resource with regard to several of Halberd’s initiatives.
About Athena GTX, Inc. Athena GTX is a certified DoD small business with Corporate Headquarters in Johnston, Iowa. Athena focuses development on wearables and highly mobile, wirelessly connected monitoring technologies, and transitioning those to key markets to meet unmet needs of first responders worldwide. Wireless Patient Monitoring – Athena GTX connects patient and providerAbout – Athena GTX® Inc.
About Halberd Corporation. Halberd Corporation HALB, is a publicly traded company on the OTC Market, and is in full compliance with OTC Market reporting requirements. Since its restructuring in April of 2020, Halberd has obtained exclusive worldwide rights to three issued patents and has filed 22 related provisional, PCT, or utility patent applications to enhance its value to its stockholders and to attract the interests of potential development partners. Halberd’s policy for responding to individual shareholder questions is to be responsive, while refraining from providing information which relates to or could compromise any information pertaining to trade secrets or that may otherwise compromise our competitive advantages. Simultaneously with such disclosure or potential disclosure, Halberd will make the responsive information public through a tweet, press release or some other form of social media/mass media communication.
Safe Harbor Notice Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). The Company’ cautions our readers that statements, and assumptions made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time the statements are made. These statements may address issues that involve significant risks, uncertainties and associated estimates made by management. Actual results could differ materially from current projections or implied results. Halberd Corporation undertakes no obligation to revise these statements following the date of this news release.
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