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<a href="http://channelchek.com/company/ktos">Research News and Market Data on KTOS</a>



SAN DIEGO, Calif.,&nbsp;Oct. 14, 2024&nbsp;(GLOBE NEWSWIRE) --&nbsp;Kratos Defense &amp; Security Solutions, Inc.&nbsp;(Nasdaq: KTOS), a technology company in the defense, national security and global markets, announced today that it has recently received a new, sole source, approximate&nbsp;$45 million&nbsp;single award contract related to a new satellite system. Work under this new satellite system contract award will be performed at secure Kratos engineering, production and integration facilities. Due to customer related, competitive and other considerations, no additional information will be provided regarding the new contract award at this time.



Phil Carrai, President of Kratos Satellite Business Unit, said, “The Kratos team is laser focused on rapidly developing and delivering leading technology products, software and systems to our National Security related customers in support of Mission Critical Space and Satellite system requirements. We are excited about this new space system program opportunity.”



Eric DeMarco, President and CEO of Kratos, said, “Kratos’ strategy is to invest our own internal funds and be first to market with affordable, relevant hardware and software for our National Security customers and partners. In addition to Kratos’ first to market,&nbsp;OpenSpace Virtualized Software&nbsp;for Satellite C2 and TT&amp;C, we are first to market with our suite of tactical jet drones flying today; including Valkyrie, our Erinyes hypersonic vehicle, Kratos Zeus and Oriole SRM’s and our family of jet engines for drones, missiles and loitering munitions.”



About&nbsp;Kratos Defense &amp; Security Solutions Kratos Defense &amp; Security Solutions, Inc.&nbsp;(NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command &amp; control (C2) and telemetry, tracking and control (TT&amp;C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual &amp; augmented reality training systems for the warfighter. For more information, visit&nbsp;<a href="https://www.globenewswire.com/Tracker?data=2GJGDrxN2tEZ9yq6WM7pmX3YR0fP1QlABACEEo_sGXsgsyeUV82MtkDFyvvSXFKDi-QsUDQ57sm6eSkNgcxRckvePd12EoNwIpHAhuz6b6I=" rel="noreferrer noopener" target="_blank">www.KratosDefense.com</a>.



Notice Regarding Forward-Looking Statements Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended&nbsp;December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the&nbsp;SEC&nbsp;by Kratos.



Press Contact: Claire Burghoff <a href="mailto:claire.burghoff@kratosdefense.com">claire.burghoff@kratosdefense.com</a>



Investor Information: 877-934-4687 <a href="mailto:investor@kratosdefense.com">investor@kratosdefense.com</a>



Source: Kratos Defense &amp; Security Solutions, Inc.

Research News and Market Data on KTOS



SAN DIEGO, Calif.,&nbsp;Oct. 14, 2024&nbsp;(GLOBE NEWSWIRE) &#8212;&nbsp;Kratos Defense &amp; Security Solutions, Inc.&nbsp;(Nasdaq: KTOS), a technology company in the defense, national security and global markets, announced today that it has recently received a new, sole source, approximate&nbsp;$45 million&nbsp;single award contract related to a new satellite system. Work under this new satellite system contract award will be performed at secure Kratos engineering, production and integration facilities. Due to customer related, competitive and other considerations, no additional information will be provided regarding the new contract award at this time.



Phil Carrai, President of Kratos Satellite Business Unit, said, “The Kratos team is laser focused on rapidly developing and delivering leading technology products, software and systems to our National Security related customers in support of Mission Critical Space and Satellite system requirements. We are excited about this new space system program opportunity.”



Eric DeMarco, President and CEO of Kratos, said, “Kratos’ strategy is to invest our own internal funds and be first to market with affordable, relevant hardware and software for our National Security customers and partners. In addition to Kratos’ first to market,&nbsp;OpenSpace Virtualized Software&nbsp;for Satellite C2 and TT&amp;C, we are first to market with our suite of tactical jet drones flying today; including Valkyrie, our Erinyes hypersonic vehicle, Kratos Zeus and Oriole SRM’s and our family of jet engines for drones, missiles and loitering munitions.”



About&nbsp;Kratos Defense &amp; Security SolutionsKratos Defense &amp; Security Solutions, Inc.&nbsp;(NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command &amp; control (C2) and telemetry, tracking and control (TT&amp;C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual &amp; augmented reality training systems for the warfighter. For more information, visit&nbsp;www.KratosDefense.com.



Notice Regarding Forward-Looking StatementsCertain statements in this press release may constitute &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended&nbsp;December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the&nbsp;SEC&nbsp;by Kratos.



Press Contact:Claire Burghoffclaire.burghoff@kratosdefense.com



Investor Information:877-934-4687investor@kratosdefense.com



Source: Kratos Defense &amp; Security Solutions, Inc.

Release - Kratos Receives $45 Million Satellite System Related Contract Award

Aerospace &amp; Defense

Industrials

Kratos Defense &amp; Security Solutions

KTOS

<figure class="wp-block-image aligncenter size-full is-resized"><img src="https://dashboard.channelchek.com/wp-content/uploads/2022/09/cc_research_lode_small.png" alt="" class="wp-image-66344" style="width:209px;height:auto"/></figure>



<a href="http://channelchek.com/company/lode">Research News and Market Data on LODE</a>



<ul class="wp-block-list">
<li>Corrado De Gasperis, Executive Chairman, Director &amp; CEO, and William McCarthy, COO, will provide business updates and the Company’s third quarter financial results followed by a live Q&amp;A session.</li>



<li>Investors and other interested parties are invited to join and learn more about Comstock’s innovative technologies and commercializing businesses that enable systemic decarbonization.</li>
</ul>



VIRGINIA CITY, Nev., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) is pleased to announce that the Company’s Executive Chairman, Director &amp; CEO, Corrado De Gasperis, and COO, William McCarthy, will be providing an overview of recent financial results, along with important fuels, metals and mining business updates on Tuesday, October 22, 2024, at 4:30pm ET. We invite all investors and other interested parties to register for the webinar at the link below.



Date: Tuesday, October 22, 2024 Time: 4:30pm ET Register:&nbsp;<a href="https://www.globenewswire.com/Tracker?data=-UwYjaPfABM_cRwyTqlQ1E_wYAGIqEyev1swztBgkDD3R2RdJFJS0RJhBepSALMyvlWKCXqa0-azS1aVy6iWiC4_SxZrrIKHCnRS9jye81XVgj_pO6vPJqa_Wt8BWiAsNThYL1b1BTYIMRTm6mCtUg==" rel="noreferrer noopener" target="_blank">Webinar Registration</a>



HAVE QUESTIONS?&nbsp;There will be an allotted time following the live presentation for a Q&amp;A session. Unaddressed questions will be reviewed by management and responded to accordingly. You may submit your question(s) beforehand in the registration form (linked above) or by email at:&nbsp;<a href="https://www.globenewswire.com/Tracker?data=fDAlPMJc4l2rn332pphy6z2A0JQudW0O15b7r8Ooe46luLGLbazLXy0ikl5PXkWEhPvZBwJTZAycyhBv-RpgE12E40es_jMuCEOJbGPhpCk=" rel="noreferrer noopener" target="_blank">ir@comstockinc.com</a>.



About Comstock Inc.



Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization and the clean energy transition by efficiently converting under-utilized natural resources, primarily, woody biomass into low-carbon renewable fuels, end-of-life metal extraction and renewal, and generative AI-enabled advanced materials synthesis and mineral discovery for sustainable mining. To learn more, please visit&nbsp;<a href="https://www.globenewswire.com/Tracker?data=Hqwh_PbVqWfG1Jn55Qc9IJg4G7hQnA-os_TcREaCs5cIYn_KQWj3VeEfZnx9Nw7EuzLDI3gApecXPgBGIZrxkA==" rel="noreferrer noopener" target="_blank">www.comstock.inc</a>.



Comstock Social Media Policy



Comstock Inc. has used, and intends to continue using, its investor relations link and main website at&nbsp;<a href="https://www.globenewswire.com/Tracker?data=Hqwh_PbVqWfG1Jn55Qc9IKo37EYutPRcMFhDfGVtHeffWgG38N8gs7BgiEM2urJpZlz7FkQcUDbma0yKTrc6TA==" rel="noreferrer noopener" target="_blank">www.comstock.inc</a>&nbsp;in addition to its Twitter, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.



Contacts



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>For investor inquiries:</td><td>For media inquiries or questions:</td></tr><tr><td>RB Milestone Group LLC</td><td>Comstock Inc., Tracy Saville</td></tr><tr><td>Tel (203) 487-2759</td><td>Tel (775) 847-7573</td></tr><tr><td><a href="mailto:ir@comstockinc.com">ir@comstockinc.com</a></td><td><a href="mailto:questions@comstockinc.com">questions@comstockinc.com</a></td></tr><tr><td></td><td>&nbsp;</td></tr></tbody></table></figure>



Forward-Looking Statements



This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Research News and Market Data on LODE




Corrado De Gasperis, Executive Chairman, Director &amp; CEO, and William McCarthy, COO, will provide business updates and the Company’s third quarter financial results followed by a live Q&amp;A session.



Investors and other interested parties are invited to join and learn more about Comstock’s innovative technologies and commercializing businesses that enable systemic decarbonization.




VIRGINIA CITY, Nev., Oct. 14, 2024 (GLOBE NEWSWIRE) &#8212; Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) is pleased to announce that the Company’s Executive Chairman, Director &amp; CEO, Corrado De Gasperis, and COO, William McCarthy, will be providing an overview of recent financial results, along with important fuels, metals and mining business updates on Tuesday, October 22, 2024, at 4:30pm ET. We invite all investors and other interested parties to register for the webinar at the link below.



Date: Tuesday, October 22, 2024Time: 4:30pm ETRegister:&nbsp;Webinar Registration



HAVE QUESTIONS?&nbsp;There will be an allotted time following the live presentation for a Q&amp;A session. Unaddressed questions will be reviewed by management and responded to accordingly. You may submit your question(s) beforehand in the registration form (linked above) or by email at:&nbsp;ir@comstockinc.com.



About Comstock Inc.



Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization and the clean energy transition by efficiently converting under-utilized natural resources, primarily, woody biomass into low-carbon renewable fuels, end-of-life metal extraction and renewal, and generative AI-enabled advanced materials synthesis and mineral discovery for sustainable mining. To learn more, please visit&nbsp;www.comstock.inc.



Comstock Social Media Policy



Comstock Inc. has used, and intends to continue using, its investor relations link and main website at&nbsp;www.comstock.inc&nbsp;in addition to its Twitter, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.



Contacts



For investor inquiries:For media inquiries or questions:RB Milestone Group LLCComstock Inc., Tracy SavilleTel (203) 487-2759Tel (775) 847-7573ir@comstockinc.comquestions@comstockinc.com&nbsp;



Forward-Looking Statements



This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Release - Comstock Inc. to Host Q3 Earnings Call on October 22, 2024, at 4:30pm ET

Basic Materials

Comstock Inc

LODE

Precious Metals &amp; Mining

<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Key Points: - Lundbeck acquires Longboard Pharmaceuticals for $2.6 billion to strengthen its neuro-rare disease portfolio. - Lead asset, bexicaserin, in late-stage trials, holds potential as a breakthrough treatment for epilepsy-related conditions. - The acquisition aligns with Lundbeck's strategy of expanding in rare neurological disorders and advancing its development pipeline.</td></tr></tbody></table></figure>



H. Lundbeck A/S (Lundbeck), a global leader in brain health, has announced a landmark deal to acquire <a href="https://www.channelchek.com/company/longboard-pharma">Longboard Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company</a> specializing in transformative treatments for neurological disorders. This $2.6 billion acquisition marks a pivotal moment for Lundbeck, reinforcing its commitment to building a strong portfolio in rare and complex neurological diseases.



The strategic deal will enable Lundbeck to further expand its reach in neuro-rare conditions, a field with high unmet medical needs. Longboard's lead asset, bexicaserin, is being developed to treat Developmental and Epileptic Encephalopathies (DEEs), including Dravet syndrome, Lennox-Gastaut syndrome, and other severe epilepsy disorders. With this acquisition, Lundbeck gains access to a potential blockbuster drug that has shown encouraging results in both preclinical and clinical trials.



Bexicaserin is a next-generation superagonist specifically targeting 5-HT2C receptors. This innovative approach differentiates the drug from existing treatments for epilepsy, positioning it as a potential best-in-class therapy for patients suffering from these debilitating conditions. The drug is currently being evaluated in a global phase III trial under the DEEp SEA Study, involving approximately 480 patients with DEEs. If successful, bexicaserin could be a cornerstone in Lundbeck’s portfolio, with an estimated global peak sales potential of between $1.5 and $2 billion following its anticipated launch in 2028.



The acquisition aligns with Lundbeck's Focused Innovator strategy, which seeks to invest in high-potential, cutting-edge treatments that address the most pressing needs in brain health. The transaction will not only enhance Lundbeck's ability to provide innovative solutions for patients with neuro-rare disorders, but it will also bolster the company's capabilities in treating complex neurological conditions.



Lundbeck’s CEO, Charl van Zyl, has emphasized that this acquisition represents a significant step in advancing the company’s mission of improving the lives of patients with severe brain disorders. “Bexicaserin addresses a critical unmet need for patients suffering from rare and severe epilepsies, for which there are very few treatment options. This acquisition will become a cornerstone in Lundbeck’s neuro-rare franchise and drive growth into the next decade,” van Zyl noted.



Longboard’s expertise and its leading asset, bexicaserin, will complement Lundbeck's existing neuroscience portfolio, creating new opportunities for research and development in rare neurological disorders. This acquisition also adds valuable intellectual property and a broader reach into under-served markets, providing the potential for substantial growth in revenue and market share.



In terms of financial impact, the acquisition is expected to be funded through existing cash resources and bank financing, with integration costs projected at around $80 million in 2024. Lundbeck aims to leverage its financial strength to ensure that the acquisition delivers long-term value for shareholders.



With bexicaserin having already received Breakthrough Therapy Designation (BTD) from the U.S. FDA, the future looks promising for this cutting-edge treatment. Lundbeck’s integration of Longboard Pharmaceuticals and its innovative technologies is poised to reshape the landscape for rare epilepsy treatment and boost the company's leadership in neurological disorders.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Take a moment to take a look at more emerging growth biotechnology companies by taking a look at Noble Capital Markets' Research Analyst <a href="https://www.channelchek.com/analysts/robert-leboyer">Robert LeBoyer's coverage list. </a></td></tr></tbody></table></figure>

Key Points:&#8211; Lundbeck acquires Longboard Pharmaceuticals for $2.6 billion to strengthen its neuro-rare disease portfolio.&#8211; Lead asset, bexicaserin, in late-stage trials, holds potential as a breakthrough treatment for epilepsy-related conditions.&#8211; The acquisition aligns with Lundbeck&#8217;s strategy of expanding in rare neurological disorders and advancing its development pipeline.



H. Lundbeck A/S (Lundbeck), a global leader in brain health, has announced a landmark deal to acquire Longboard Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company specializing in transformative treatments for neurological disorders. This $2.6 billion acquisition marks a pivotal moment for Lundbeck, reinforcing its commitment to building a strong portfolio in rare and complex neurological diseases.



The strategic deal will enable Lundbeck to further expand its reach in neuro-rare conditions, a field with high unmet medical needs. Longboard&#8217;s lead asset, bexicaserin, is being developed to treat Developmental and Epileptic Encephalopathies (DEEs), including Dravet syndrome, Lennox-Gastaut syndrome, and other severe epilepsy disorders. With this acquisition, Lundbeck gains access to a potential blockbuster drug that has shown encouraging results in both preclinical and clinical trials.



Bexicaserin is a next-generation superagonist specifically targeting 5-HT2C receptors. This innovative approach differentiates the drug from existing treatments for epilepsy, positioning it as a potential best-in-class therapy for patients suffering from these debilitating conditions. The drug is currently being evaluated in a global phase III trial under the DEEp SEA Study, involving approximately 480 patients with DEEs. If successful, bexicaserin could be a cornerstone in Lundbeck’s portfolio, with an estimated global peak sales potential of between $1.5 and $2 billion following its anticipated launch in 2028.



The acquisition aligns with Lundbeck&#8217;s Focused Innovator strategy, which seeks to invest in high-potential, cutting-edge treatments that address the most pressing needs in brain health. The transaction will not only enhance Lundbeck&#8217;s ability to provide innovative solutions for patients with neuro-rare disorders, but it will also bolster the company&#8217;s capabilities in treating complex neurological conditions.



Lundbeck’s CEO, Charl van Zyl, has emphasized that this acquisition represents a significant step in advancing the company’s mission of improving the lives of patients with severe brain disorders. “Bexicaserin addresses a critical unmet need for patients suffering from rare and severe epilepsies, for which there are very few treatment options. This acquisition will become a cornerstone in Lundbeck’s neuro-rare franchise and drive growth into the next decade,” van Zyl noted.



Longboard’s expertise and its leading asset, bexicaserin, will complement Lundbeck&#8217;s existing neuroscience portfolio, creating new opportunities for research and development in rare neurological disorders. This acquisition also adds valuable intellectual property and a broader reach into under-served markets, providing the potential for substantial growth in revenue and market share.



In terms of financial impact, the acquisition is expected to be funded through existing cash resources and bank financing, with integration costs projected at around $80 million in 2024. Lundbeck aims to leverage its financial strength to ensure that the acquisition delivers long-term value for shareholders.



With bexicaserin having already received Breakthrough Therapy Designation (BTD) from the U.S. FDA, the future looks promising for this cutting-edge treatment. Lundbeck’s integration of Longboard Pharmaceuticals and its innovative technologies is poised to reshape the landscape for rare epilepsy treatment and boost the company&#8217;s leadership in neurological disorders.



Take a moment to take a look at more emerging growth biotechnology companies by taking a look at Noble Capital Markets&#8217; Research Analyst Robert LeBoyer&#8217;s coverage list.

Lundbeck to Acquire Longboard Pharmaceuticals in Strategic Deal to Boost Neuroscience Pipeline

Acquisition

Bexicaserin

Health

Longboard Pharmaceuticals

Lundbeck

neuroscience

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Noble Capital Markets Research Morning Call

<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Key Points: - S&amp;P 500 hits an intraday record high driven by strong performance from chip stocks, with Nvidia and Apple leading the charge. - Investors focus on upcoming corporate earnings reports from major companies like Bank of America and Netflix, as well as key economic data. - Boeing and Caterpillar stocks drag on the Dow due to job cuts and rating downgrades, while the broader market shows cautious optimism.</td></tr></tbody></table></figure>



The S&amp;P 500 and Nasdaq indices reached new highs on Monday, buoyed by a rally in chip stocks and positive market sentiment as investors prepared for a week filled with critical corporate earnings reports and important economic data. The S&amp;P 500 achieved an intraday record high, continuing the momentum it gained from last week’s solid performance. Meanwhile, the Nasdaq also rose as tech stocks, particularly Nvidia and Apple, saw substantial gains.



Nvidia's stock rose by 2.2%, while Apple gained 1.6%, propelling an index of semiconductor companies to its highest point in over two months. The strength of these companies underscored the resilience of the technology sector, which has continued to lead market gains throughout 2024. With the semiconductor index posting significant growth, the technology sector contributed heavily to the S&amp;P 500's rise, with five out of eleven sectors inching higher.



Despite the overall strength of the S&amp;P 500 and Nasdaq, the Dow Jones Industrial Average struggled due to underperformance from major industrial stocks. Caterpillar, a bellwether for the industrial sector, fell by 3% after being downgraded by Morgan Stanley from "equal weight" to "underweight." Boeing also faced challenges, as the company’s stock slipped 2.4% after announcing a larger-than-expected third-quarter loss, job cuts, and a delay in the delivery of its 777X jet.



As corporate earnings season kicks into full gear, investors are eagerly awaiting results from major companies including Bank of America, Citigroup, Johnson &amp; Johnson, and Netflix. Analysts are projecting year-over-year third-quarter earnings growth of 4.9% for the S&amp;P 500. Last week, bank earnings set a positive tone for the earnings season, with JPMorgan delivering strong results that injected optimism into the market.



However, concerns remain regarding high stock valuations. The S&amp;P 500 is trading at nearly 22 times forward earnings, significantly higher than its long-term average of 15.7. As corporate results roll in, companies will need to deliver strong numbers to justify the elevated stock prices, making this earnings season a pivotal moment for the market.



In addition to earnings reports, investors are keenly watching for crucial economic data, particularly the September retail sales figures due to be released on Thursday. These figures are expected to provide insight into the financial health of U.S. consumers, a key factor influencing market sentiment.



On the monetary policy front, Minneapolis Fed President Neel Kashkari made headlines by suggesting that modest interest-rate cuts could be on the horizon as inflation nears the Federal Reserve’s 2% target. Similarly, Fed Governor Christopher Waller is set to provide further insights into the Fed’s stance on interest rates. While investors have scaled back expectations for a large interest-rate cut, the CME Group’s FedWatch tool shows an 84.2% probability of a 25-basis-point reduction at the Fed’s November meeting.



While tech stocks soared, other sectors showed more caution. Boeing’s job cuts and delivery delays, alongside Caterpillar’s rating downgrade, weighed on the Dow, dragging the index down by 0.10%. Meanwhile, energy stocks took a hit as oil prices declined, with the energy sector slipping 0.4%. On the other hand, defense stocks such as Northrop Grumman and Lockheed Martin saw gains amid rising geopolitical tensions, including Iran’s missile launch against Israel.



In contrast, B. Riley Financial experienced a significant 20% jump after announcing a deal to sell its Great American Group unit to Oaktree Capital for $386 million, reflecting optimism in the financial sector.



Despite these mixed performances, the overall market remains cautiously optimistic as traders brace for a critical week that will provide further clues about the strength of corporate America and the broader U.S. economy.

Key Points:&#8211; S&amp;P 500 hits an intraday record high driven by strong performance from chip stocks, with Nvidia and Apple leading the charge.&#8211; Investors focus on upcoming corporate earnings reports from major companies like Bank of America and Netflix, as well as key economic data.&#8211; Boeing and Caterpillar stocks drag on the Dow due to job cuts and rating downgrades, while the broader market shows cautious optimism.



The S&amp;P 500 and Nasdaq indices reached new highs on Monday, buoyed by a rally in chip stocks and positive market sentiment as investors prepared for a week filled with critical corporate earnings reports and important economic data. The S&amp;P 500 achieved an intraday record high, continuing the momentum it gained from last week’s solid performance. Meanwhile, the Nasdaq also rose as tech stocks, particularly Nvidia and Apple, saw substantial gains.



Nvidia&#8217;s stock rose by 2.2%, while Apple gained 1.6%, propelling an index of semiconductor companies to its highest point in over two months. The strength of these companies underscored the resilience of the technology sector, which has continued to lead market gains throughout 2024. With the semiconductor index posting significant growth, the technology sector contributed heavily to the S&amp;P 500&#8217;s rise, with five out of eleven sectors inching higher.



Despite the overall strength of the S&amp;P 500 and Nasdaq, the Dow Jones Industrial Average struggled due to underperformance from major industrial stocks. Caterpillar, a bellwether for the industrial sector, fell by 3% after being downgraded by Morgan Stanley from &#8220;equal weight&#8221; to &#8220;underweight.&#8221; Boeing also faced challenges, as the company’s stock slipped 2.4% after announcing a larger-than-expected third-quarter loss, job cuts, and a delay in the delivery of its 777X jet.



As corporate earnings season kicks into full gear, investors are eagerly awaiting results from major companies including Bank of America, Citigroup, Johnson &amp; Johnson, and Netflix. Analysts are projecting year-over-year third-quarter earnings growth of 4.9% for the S&amp;P 500. Last week, bank earnings set a positive tone for the earnings season, with JPMorgan delivering strong results that injected optimism into the market.



However, concerns remain regarding high stock valuations. The S&amp;P 500 is trading at nearly 22 times forward earnings, significantly higher than its long-term average of 15.7. As corporate results roll in, companies will need to deliver strong numbers to justify the elevated stock prices, making this earnings season a pivotal moment for the market.



In addition to earnings reports, investors are keenly watching for crucial economic data, particularly the September retail sales figures due to be released on Thursday. These figures are expected to provide insight into the financial health of U.S. consumers, a key factor influencing market sentiment.



On the monetary policy front, Minneapolis Fed President Neel Kashkari made headlines by suggesting that modest interest-rate cuts could be on the horizon as inflation nears the Federal Reserve’s 2% target. Similarly, Fed Governor Christopher Waller is set to provide further insights into the Fed’s stance on interest rates. While investors have scaled back expectations for a large interest-rate cut, the CME Group’s FedWatch tool shows an 84.2% probability of a 25-basis-point reduction at the Fed’s November meeting.



While tech stocks soared, other sectors showed more caution. Boeing’s job cuts and delivery delays, alongside Caterpillar’s rating downgrade, weighed on the Dow, dragging the index down by 0.10%. Meanwhile, energy stocks took a hit as oil prices declined, with the energy sector slipping 0.4%. On the other hand, defense stocks such as Northrop Grumman and Lockheed Martin saw gains amid rising geopolitical tensions, including Iran’s missile launch against Israel.



In contrast, B. Riley Financial experienced a significant 20% jump after announcing a deal to sell its Great American Group unit to Oaktree Capital for $386 million, reflecting optimism in the financial sector.



Despite these mixed performances, the overall market remains cautiously optimistic as traders brace for a critical week that will provide further clues about the strength of corporate America and the broader U.S. economy.

S&amp;P 500 Hits Record High as Chip Stocks Surge and Corporate Earnings Take Center Stage

<figure class="wp-block-image"><img src="https://www.noblelinx.com/images/channelchek/research-teaser-header.jpg" alt=""/></figure>



 Friday, October 11, 2024



Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is composed of immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. Tonix’s immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-15001 which is a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 is expected to be initiated in the second half of 2022. Tonix’s rare disease portfolio includes TNX-29002 for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the FDA. Tonix’s infectious disease pipeline includes a vaccine in development to prevent smallpox and monkeypox called TNX-8013, next-generation vaccines to prevent COVID-19, and an antiviral to treat COVID-19. Tonix’s lead vaccine candidates for COVID-19 are TNX-1840 and TNX-18504, which are live virus vaccines based on Tonix’s recombinant pox vaccine (RPV) platform. TNX-35005 (sangivamycin, i.v. solution) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-IND stage of development. TNX-102 SL6, (cyclobenzaprine HCl sublingual tablets), is a small molecule drug being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix expects to initiate a Phase 2 study in Long COVID in the second quarter of 2022. The Company’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL, is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022. Finally, TNX-13007 is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the second quarter of 2022. TNX-1300 has been granted Breakthrough Therapy Designation by the FDA.



Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



We Expect The NDA Filing For Tonmya Approval To Be Submitted Shortly.&nbsp;We anticipate the NDA submission for Tonmya to be announced around the end of October 2024. This would start the FDA review process, which we expect to lead to marketing approval in mid-2025. In July, Tonmya received Fast Track Review, a designation that gives advantages in the regulatory pathway. With a pending NDA submission for a drug that could be used by millions of patients, we believe the company’s progress has not been reflected in the stock price.



Fast Track Review Is A Significant Distinction.&nbsp;The Fast Track Review designation from the FDA is awarded to drugs that can make significant impact on serious medical conditions. The designation provides important benefits including increased communications with the FDA, as well as eligibility for Accelerated Approval and Priority Review. We expect the application for Accelerated Approval to be filed shortly after the NDA is completed. This could shorten the FDA's review period by up to 4 months.



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*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, October 11, 2024



Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is composed of immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. Tonix’s immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-15001 which is a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 is expected to be initiated in the second half of 2022. Tonix’s rare disease portfolio includes TNX-29002 for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the FDA. Tonix’s infectious disease pipeline includes a vaccine in development to prevent smallpox and monkeypox called TNX-8013, next-generation vaccines to prevent COVID-19, and an antiviral to treat COVID-19. Tonix’s lead vaccine candidates for COVID-19 are TNX-1840 and TNX-18504, which are live virus vaccines based on Tonix’s recombinant pox vaccine (RPV) platform. TNX-35005 (sangivamycin, i.v. solution) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-IND stage of development. TNX-102 SL6, (cyclobenzaprine HCl sublingual tablets), is a small molecule drug being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix expects to initiate a Phase 2 study in Long COVID in the second quarter of 2022. The Company’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL, is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022. Finally, TNX-13007 is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the second quarter of 2022. TNX-1300 has been granted Breakthrough Therapy Designation by the FDA.



Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



We Expect The NDA Filing For Tonmya Approval To Be Submitted Shortly.&nbsp;We anticipate the NDA submission for Tonmya to be announced around the end of October 2024. This would start the FDA review process, which we expect to lead to marketing approval in mid-2025. In July, Tonmya received Fast Track Review, a designation that gives advantages in the regulatory pathway. With a pending NDA submission for a drug that could be used by millions of patients, we believe the company’s progress has not been reflected in the stock price.



Fast Track Review Is A Significant Distinction.&nbsp;The Fast Track Review designation from the FDA is awarded to drugs that can make significant impact on serious medical conditions. The designation provides important benefits including increased communications with the FDA, as well as eligibility for Accelerated Approval and Priority Review. We expect the application for Accelerated Approval to be filed shortly after the NDA is completed. This could shorten the FDA&#8217;s review period by up to 4 months.



Get the Full Report







Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Tonix Pharmaceuticals (TNXP) - A New Era For Tonix Begins With The Tonmya NDA Filing

Biotechnology

TNXP

Tonix Pharmaceuticals

<figure class="wp-block-image"><img src="https://www.noblelinx.com/images/channelchek/research-teaser-header.jpg" alt=""/></figure>



 Friday, October 11, 2024



Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Second quarter financial results. For the fiscal year (FY) 2025, AZZ reported second quarter adjusted net income of $41.3 million or $1.37 per share compared to $37.2 million or $1.27 per share during the prior year period and our estimate of $40.8 million or $1.35 per share. AZZ maintained its FY 2025 sales guidance range of $1.525 billion to $1.625 billion, lifted the lower end of adjusted EBITDA to a range of $320 million (from $310 million) to $360 million, and increased adjusted diluted EPS expectations to a range of $4.70 to $5.10 from $4.50 to $5.00.



Updating estimates.&nbsp;We have lowered our 2025 EBITDA and EPS estimates to $343.0 million and $4.95, respectively, from $350.3 million and $5.00. Our estimates reflect seasonality in the second half of the year. Our 2026 EBITDA and EPS estimates have been reduced to $361.2 million and $5.45, respectively, from $366.8 million and $5.70. Our 2026 estimates reflect a slower ramp in revenue from the new facility under construction in Washington, Missouri.



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*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, October 11, 2024



Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



Second quarter financial results. For the fiscal year (FY) 2025, AZZ reported second quarter adjusted net income of $41.3 million or $1.37 per share compared to $37.2 million or $1.27 per share during the prior year period and our estimate of $40.8 million or $1.35 per share. AZZ maintained its FY 2025 sales guidance range of $1.525 billion to $1.625 billion, lifted the lower end of adjusted EBITDA to a range of $320 million (from $310 million) to $360 million, and increased adjusted diluted EPS expectations to a range of $4.70 to $5.10 from $4.50 to $5.00.



Updating estimates.&nbsp;We have lowered our 2025 EBITDA and EPS estimates to $343.0 million and $4.95, respectively, from $350.3 million and $5.00. Our estimates reflect seasonality in the second half of the year. Our 2026 EBITDA and EPS estimates have been reduced to $361.2 million and $5.45, respectively, from $366.8 million and $5.70. Our 2026 estimates reflect a slower ramp in revenue from the new facility under construction in Washington, Missouri.



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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

AZZ Inc. (AZZ) - Tempering Our Expectations; Rating Remains an Outperform

AZZ Inc.

Industrial

Specialty Business Services

<figure class="wp-block-image"><img src="https://www.noblelinx.com/images/channelchek/research-teaser-header.jpg" alt=""/></figure>



 Friday, October 11, 2024



Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.



Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



A New Plan.&nbsp;Yesterday, after the market closed, Steelcase filed an 8-k with the Securities &amp; Exchange Commission reporting the Company has entered into a stock repurchase agreement with an independent third party broker.&nbsp;The agreement was established in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. We believe share repurchases are a good use of excess cash on the balance sheet at current prices.



Details.&nbsp;The broker is authorized to repurchase up to 1.5 million shares of the Company's common stock on behalf of the Company during the period from October 11, 2024 through December 20, 2024, subject to certain price, market and volume constraints specified in the agreement. At yesterday's closing price, acquiring the shares would cost approximately $19 million and the 1.5 million shares represent approximately 1.6% of the outstanding Class A shares. The Company has $79.9 million remaining under its $100 million share repurchase plan authorization.



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*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Friday, October 11, 2024



Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.



Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.



Refer to the full report for the price target, fundamental analysis, and rating.



A New Plan.&nbsp;Yesterday, after the market closed, Steelcase filed an 8-k with the Securities &amp; Exchange Commission reporting the Company has entered into a stock repurchase agreement with an independent third party broker.&nbsp;The agreement was established in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. We believe share repurchases are a good use of excess cash on the balance sheet at current prices.



Details.&nbsp;The broker is authorized to repurchase up to 1.5 million shares of the Company&#8217;s common stock on behalf of the Company during the period from October 11, 2024 through December 20, 2024, subject to certain price, market and volume constraints specified in the agreement. At yesterday&#8217;s closing price, acquiring the shares would cost approximately $19 million and the 1.5 million shares represent approximately 1.6% of the outstanding Class A shares. The Company has $79.9 million remaining under its $100 million share repurchase plan authorization.



Get the Full Report







Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).



*Analyst certification and important disclosures included in the full report.&nbsp;NOTE: investment decisions should not be based upon the content of this research summary.&nbsp;Proper due diligence is required before making any investment decision.&nbsp;

Steelcase (SCS) - A New 10b5-1 Plan

Business Equipment &amp; Supplies

Steelcase

<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Key Points: - Upstream Bio raised $255 million to fund advanced trials for its respiratory disease drug verekitug, achieving a valuation of $830 million. - Ceribell raised $180 million to further develop its AI-powered EEG platform, focusing on diagnosing serious neurological conditions. - CAMP4 Therapeutics raised $75 million to continue its work in gene expression therapies, pricing its IPO below expectations at $11 per share.</td></tr></tbody></table></figure>



Three biotech companies priced their initial public offerings (IPOs) on Thursday, securing substantial funding to advance their innovative therapies and technologies. The companies—Upstream Bio, Ceribell, and CAMP4 Therapeutics—collectively raised millions, with plans to use the proceeds for various clinical trials and product developments.



Upstream Bio: Raising $255 Million for Respiratory Therapies Upstream Bio led the day by raising $255 million, with its shares priced at the higher end of the expected range. Initially planning to sell 12.5 million shares between $15 and $17 each, the company increased the offering to 15 million shares due to high demand, pricing them near $17. This could further rise if underwriters exercise their option to purchase an additional 2.25 million shares. The company, which now has a valuation of around $830 million, will trade on the NASDAQ under the ticker symbol <a href="https://www.channelchek.com/company/upb">UPB</a>.



Upstream Bio is using the capital to advance clinical trials for its lead drug, verekitug, which is being tested for severe asthma and chronic rhinosinusitis with nasal polyps. The drug targets a receptor for thymic stromal lymphopoietin, a key player in inflammatory diseases. Proceeds will also help initiate a phase 3 trial for severe asthma.



Ceribell: Secures $180 Million for AI-Powered Neurological Diagnostics Ceribell, a commercial-stage medical technology company, raised $180 million through its IPO, with 10.6 million shares priced at $17 each, giving the company a valuation of $578 million. Like Upstream, Ceribell also granted underwriters the option to purchase additional shares—up to 1.6 million more. The company will trade on the NASDAQ under the symbol <a href="https://www.channelchek.com/company/cbll">CBLL</a>.



Ceribell specializes in AI-powered neurological diagnostic tools, notably its point-of-care electroencephalography (EEG) platform, designed to help in the diagnosis and management of critical neurological conditions. The technology is expected to revolutionize the way healthcare providers address neurological emergencies.



CAMP4 Therapeutics: Raises $75 Million Despite Pricing Below Expectations CAMP4 Therapeutics saw its IPO priced below expectations, at $11 per share, compared to an initial range of $14 to $16. Despite this, the company managed to sell 6.8 million shares, surpassing its original goal of 5 million, for total gross proceeds of $75 million. CAMP4 will begin trading on the NASDAQ under the ticker symbol <a href="https://www.channelchek.com/company/camp">CAMP</a>.



CAMP4 focuses on regulatory RNA-targeting therapeutics, aiming to upregulate gene expression in genetic diseases. The proceeds will be used to further develop its drug pipeline, including its recent collaboration with BioMarin to target RNA sequences for therapeutic applications.

Key Points: &#8211; Upstream Bio raised $255 million to fund advanced trials for its respiratory disease drug verekitug, achieving a valuation of $830 million.&#8211; Ceribell raised $180 million to further develop its AI-powered EEG platform, focusing on diagnosing serious neurological conditions.&#8211; CAMP4 Therapeutics raised $75 million to continue its work in gene expression therapies, pricing its IPO below expectations at $11 per share.



Three biotech companies priced their initial public offerings (IPOs) on Thursday, securing substantial funding to advance their innovative therapies and technologies. The companies—Upstream Bio, Ceribell, and CAMP4 Therapeutics—collectively raised millions, with plans to use the proceeds for various clinical trials and product developments.



Upstream Bio: Raising $255 Million for Respiratory Therapies Upstream Bio led the day by raising $255 million, with its shares priced at the higher end of the expected range. Initially planning to sell 12.5 million shares between $15 and $17 each, the company increased the offering to 15 million shares due to high demand, pricing them near $17. This could further rise if underwriters exercise their option to purchase an additional 2.25 million shares. The company, which now has a valuation of around $830 million, will trade on the NASDAQ under the ticker symbol UPB.



Upstream Bio is using the capital to advance clinical trials for its lead drug, verekitug, which is being tested for severe asthma and chronic rhinosinusitis with nasal polyps. The drug targets a receptor for thymic stromal lymphopoietin, a key player in inflammatory diseases. Proceeds will also help initiate a phase 3 trial for severe asthma.



Ceribell: Secures $180 Million for AI-Powered Neurological Diagnostics Ceribell, a commercial-stage medical technology company, raised $180 million through its IPO, with 10.6 million shares priced at $17 each, giving the company a valuation of $578 million. Like Upstream, Ceribell also granted underwriters the option to purchase additional shares—up to 1.6 million more. The company will trade on the NASDAQ under the symbol CBLL.



Ceribell specializes in AI-powered neurological diagnostic tools, notably its point-of-care electroencephalography (EEG) platform, designed to help in the diagnosis and management of critical neurological conditions. The technology is expected to revolutionize the way healthcare providers address neurological emergencies.



CAMP4 Therapeutics: Raises $75 Million Despite Pricing Below Expectations CAMP4 Therapeutics saw its IPO priced below expectations, at $11 per share, compared to an initial range of $14 to $16. Despite this, the company managed to sell 6.8 million shares, surpassing its original goal of 5 million, for total gross proceeds of $75 million. CAMP4 will begin trading on the NASDAQ under the ticker symbol CAMP.



CAMP4 focuses on regulatory RNA-targeting therapeutics, aiming to upregulate gene expression in genetic diseases. The proceeds will be used to further develop its drug pipeline, including its recent collaboration with BioMarin to target RNA sequences for therapeutic applications.

Three Biotech Companies Price Their IPOs, Raising Significant Capital for Future Growth

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