NetworkNewsBreaks

WednesdayAug 14, 2024 9:00 am

NetworkNewsBreaks – Oragenics Inc. (NYSE American: OGEN) Reports Concussion Drug Stable Across Wide Range of Temps

Oragenics (NYSE American: OGEN), a company focused on developing unique, intranasal pharmaceuticals for the treatment of neurological disorders, recently completed the synthesis of its ONP-002 drug batch for its upcoming planned phase 2 clinical trial. Consequently, the company is reporting that ONP-002, its lead candidate for treating concussion, is stable across a wide temperature range, thus eliminating the need for cumbersome cold storage during transport and storage. Specifically, the company reported three-month stability with more than 99% purity at temperatures ranging from -20°C to 104°C. “We understand the importance of getting ONP-002 into the brain quickly after concussive injury to…

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TuesdayAug 13, 2024 3:31 pm

NetworkNewsBreaks – Match Group Inc. (NASDAQ: MTCH) Shifts Focus from Livestreaming to Generative AI

Match Group (NASDAQ: MTCH), the parent company behind some of the most popular dating apps, is undergoing a significant transformation in its business strategy. This shift involves moving away from livestreaming services to focus more on generative AI technologies. This strategic pivot comes in response to changing customer behaviors post-pandemic and the intense competition from platforms like TikTok, which have impacted the growth of livestreaming revenue. Match Group’s decision to end livestreaming services, including the “Live!” feature on Plenty of Fish (“POF”) and BLK, as well as shutting down the Hakuna app, is expected to result in a $60 million…

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TuesdayAug 13, 2024 2:48 pm

NetworkNewsBreaks – Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) Announces Confirmation of Potential Commercial Grade Direct Shipping Products at Storm

Aston Bay (TSX.V: BAY) (OTCQB: ATBHF), a mineral exploration company exploring for high-grade critical and precious metal deposits in Nunavut, Canada, and Virginia, USA, today confirmed potential commercial grade Direct Shipping Products (“DSPs”) at the Storm Project on Somerset Island, Nunavut. This followed a successful metallurgical study and test work program, with DSP processing test work completed on each of the Cyclone and Chinook Deposits. American West Metals Limited is conducting the studies and exploration program. According to the announcement, this test work confirmed that the Cyclone and Chinook copper mineralization is amenable to upgrading and that high recoveries can…

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TuesdayAug 13, 2024 1:29 pm

NetworkNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Releases Financial Results, Business Update

Mullen Automotive (NASDAQ: MULN), an electric vehicle (“EV”) manufacturer, is providing a financial and business report for the three- and nine-month period ended June 30, 2024. Highlights of the report indicate a positive stockholders’ equity of $53 million and total assets of $192 million. The report also noted, among other key milestones, that the company has secured a substantial $250 million new financing commitment; has announced a lease program for Class 1 EV cargo vans created with a focus on individuals, small businesses and fleets; and has received an order for 20 Mullen-GOs from GAMA (“GAMA”), one of its international distributors. In…

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TuesdayAug 13, 2024 11:58 am

NetworkNewsBreaks – DoubleDown Interactive Co. Ltd. (NASDAQ: DDI) Releases Q2 2024 Financial Results

DoubleDown Interactive (NASDAQ: DDI), a leading developer and publisher of digital games on mobile and web-based platforms, is reporting its second-quarter 2024 unaudited financial results, for the period ended June 30, 2024. Highlights of the report include an increase of revenue to $88.2 million from $75.2 million in Q2 2023; an increase in operating expenses to $52 million from $47.7 million in Q2 2023; an increase in net income to $33.3 million; and an increase in Adjusted EBITDA to $37 million from $27.6 million in Q2 2023. “We continued to drive strong growth across our business in the 2024 second quarter,…

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TuesdayAug 13, 2024 10:54 am

NetworkNewsBreaks – Cepton Inc. (NASDAQ: CPTN) Releases Results of Q2 2024 Financial, Business Operations

Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions, is reporting its business and financial results for the second quarter ended June 30, 2024. Highlights of the report included the signing of an agreement and plan of merger for the acquisition by Koito Manufacturing Co. Ltd. (“Koito”), the completion of key milestones in an engineering services contract with Koito, continued final sourcing discussions with a top 10 global automotive OEM and continued RFQ first-round discussions with a top 3 global automotive OEM. The report also noted the execution of Ultra long-range lidar B-sample demonstrations and RFI/RFQ discussions…

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TuesdayAug 13, 2024 10:13 am

NetworkNewsBreaks – Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) Signs Definitive Loan Restructuring Agreement with EIB Converting Debt into Equity

Scinai Immunotherapeutics (NASDAQ: SCNI), a biopharmaceutical company focused on developing inflammation and immunology (“I&I”) biological products and providing CDMO services through its Scinai Bioservices business unit, today announced the signing of a definitive Loan Restructuring Agreement with the European Investment Bank (“EIB”), its lender. The agreement also included an amendment and restatement to the Finance Contract between the parties. According to the announcement, an amount equal to approximately €26.6 million (approximately $29 million), including interest accrued to date, owned by Scinai to EIB under the finance contract, will be converted into 1,000 preferred shares, no par value per share, of…

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TuesdayAug 13, 2024 9:33 am

NetworkNewsBreaks – SOBR Safe Inc. (NASDAQ: SOBR) Releases Q2 2024 Quarterly Update

SOBRsafe (NASDAQ: SOBR), a provider of next-generation, transdermal alcohol-detection solutions, is reporting on its NASDAQ listing, financial positioning and sales progress, noting that the NASDAQ Hearings Panel granted the company an exception period continuing the listing of its common stock on the NASDAQ exchange; the company has until Oct. 23, 2024, to regain compliance with the market’s $1 minimum bid price per share requirement and to demonstrate long-term compliance with the required minimum of $2.5 million in stockholders' equity. The report also noted that the company continues to strengthen its financial position and restructure the composition of its equity. In…

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MondayAug 12, 2024 3:21 pm

NetworkNewsBreaks – Snap Inc. (NYSE: SNAP) Enhances User Experience with AR Upgrades and Innovative Features

Snap (NYSE: SNAP), the parent company of the popular social media platform Snapchat, is making significant strides in enhancing user experience through innovative features and augmented reality (“AR”) upgrades. These efforts are aimed at fostering deeper connections among users and boosting engagement on the platform. Snap’s ambitious goal to reach 1 billion monthly users is underscored by its recent announcement of a community growth to over 850 million monthly active users in the second quarter, along with more than 11 million subscribers to Snapchat+. This growth trajectory is a testament to the company’s strategic focus on enhancing communication and interaction…

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MondayAug 12, 2024 12:29 pm

NetworkNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Receives Follow-On Order from UVA

Mullen Automotive (NASDAQ: MULN), an electric vehicle (“EV”) manufacturer, has received an order for one Mullen One, a Class 1 EV cargo van, from the University of Virginia for the school’s fleet of commercial vehicles. According to the announcement, the order, which follows an earlier purchase the university made last year, will be fulfilled by Mullen’s commercial retail dealer partner, Randy Marion Automotive Group (“RMA”). The company also noted that it recently received a $7.7 million, 180-vehicle order from its dealer partner Eco Auto. The two orders represent a growing demand for Mullen's electric commercial vehicles, the announcement pointed out. The…

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