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88 Energy Ltd (OTCMKTS: EEENF) Powerful Breakout as Oil Operator Drills the Merlin 1 in Alaska’s North Slope Oilfields

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88 Energy Ltd (OTCMKTS: EEENF) is moving steadily northbound with power quickly emerging as one of the most exciting and searched for stocks in small caps. Currently under heavy accumulation EEENF regularly trades $20 million in dollar volume in a day and has a huge international following of shareholders. The Company is currently beefing up its management team after executive chairman Michael Evans retired after 7 years with the Company. 88 Energy has hired Philip Byrne. The energy company also said that Robert Benkovic has been appointed chief operating officer. Mr. Byrne is a petroleum geologist with over 40 years’ experience in the international oil and gas industry across technical, exploration, commercial and executive leadership roles. Mr. Benkovic is a petroleum engineer and subsurface manager with almost 25 years’ experience across the oil and gas industry.  

As oil continues to rise quickly with some experts now predicting $100 per barrel crude is on the horizon, it’s easy to see why EEENF is being heavily accumulated at current price levels; the Company has been making some big moves behind the scenes including increasing their ownership in the Peregrine mine to 100%, Extinguishing all of their debt, beefed up their management team with a new petroleum engineer and a petroleum Geologist in Philip Byrne and Robert Benkovic. The ex-CEO of the Company David Wall recently doubled his position in EEENF from 120 million shares to 254 million shares. As shareholders await additional core sampling results EEENF is getting noticed by the big boys as they drill the Merlin-1 in the World Class Alaska North Slope recently getting a mention from mining giant ConocoPhillips ( $COP) in a recent shareholder meeting. 88 Energy Ltd hasn 3 properties covering over 410,312 acres targeting the world class North Slope of Alaska estimated by the USGS in 2005 to hold more than 50 billion bbl of oil and natural-gas liquids and 227 trillion cubic feet of gas. According to 88E recent release the Company’s total prospects for 3 of their wells; the Merlin, Herrier & Herrier Deep target 1.638 billion barrels of oil

Home - 88 Energy Ltd88 Energy Ltd (OTCMKTS: EEENF) is an oil and gas operator with 3 properties covering over 400,000 acres targeting the world class North Slope of Alaska estimated by the USGS in 2005 to hold more than 50 billion bbl of oil and natural-gas liquids and 227 trillion cubic feet of gas. The recent merger of 88Energy and XCD Energy has created a substantially enhanced Alaska focused oil exploration and appraisal Company currently making big moves.  The Company’s three projects combined total about 410,312 acres in northern Alaska that hold significant potential of future growth and discoveries. 88E is listed in Australia, London and the USA as EEENF. With 88 Energy targeting 1.638 bbl and analyses on the projects coming in soon anticipation could not be greater. Timing could not be better for a potential mammoth oil strike with the Crude Oil WTI Index hitting a high of US$80 per barrel recently, a level it hasn’t traded at since 2018. 

Microcapdaily has been reporting on EEENF since March 10 stating at the time:Several days ago, EEENF stated that Rig 111 commenced drilling the Merlin-1 well on March 10. The Merlin-1 well will initially be drilled to 1,500 feet, then surface casing will be installed, and the Blow Out Preventer System tested. the well will be deepened through the target horizons in the Nanushuk Formation to a maximum total depth of 6,000 feet. The Merlin-1 well is targeting 645 million barrels of gross mean prospective resource. A second well, Harrier-1 may commence immediately following completion of operations at Merlin-1. Herrier-1 is targeting gross mean prospective resource of 417 million barrels. Both the Merlin and the Herrier prospects are located on trend to an exisiting discovery in the same play type (Nanushuk topsets). This has de-risked the prospects considerably and resulted in a relatively high estimated geological chance of success. According to 88E recent release the Company’s total prospects for 3 of their wells; the Merlin, Herrier & Herrier Deep target 1.638 billion barrels of oil. The COVID-19 pandemic triggered an unprecedented demand shock in the oil industry, leading to a historic market collapse in oil prices. Since its April lows the price of oil has been rising rapidly and is predicted to continue to rise. Wall Street is now predicting a new commodity bull market that will rival the oil price spikes of the 1970s or the China-driven boom of the 2000s. Market experts like JPMorgan Chase recently warned the oil market could be on the cusp of a “supercycle” that sends Brent crude skyrocketing as high as $190 a barrel in 2025.  

https://twitter.com/JulianWSaunders/status/1422193167751856129

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EEENF

88 Energy recently received initial results from 5 of the 18 specifically selected trims from the side wall cores, with 2 of the 5 confirming the presence of hydrocarbons. Significantly, these depths were among the prospective zones that were not able to be tested with the RDT downhole fluid extraction tool. These zones also correspond with depths where good oil shows were noted during drilling, including petroliferous odor, fluorescence and cut. Small trims were cut from the side of several of the 48 side wall cores to undergo special analysis. The remaining material is reserved for routine core analysis. These gas chromatography charts show a spread of carbon compounds with lighter molecules on the left and heavier components on the right. Oil signatures may be inferred by the presence of heavier carbon compounds seen in the two of the five samples run to date (as seen in Fig. 2). Importantly these signatures show no evidence of biodegradation.   

The highly encouraging test results to date serve to refine the Company’s understanding of both the quantity and the mobility of hydrocarbons in place as well as the commercial potential of the greater Project Peregrine acreage, which will be further appraised in coming seasons. The Company looks forward to further results from the remaining 13 trims over the coming weeks. Phase two of the geochemical analysis program on the side-wall core trims will commence after completion of the analysis of remaining 13 trims, which will include quantitative extraction, SARA, isotopes and biomarkers analysis. These analyses are designed to confirm not only the presence of oil but also the nature of the source rock, enhancing understanding of the likely quality of the oil as well as migration pathways, which is critical for understanding regional implications on prospectively across Project Peregrine.  

In addition, the Company is looking forward to the preliminary results of the Volatiles Analysis Service (VAS), which is currently underway, as well as analysis of gases collected in isotubes while drilling. VAS and gas analysis further enhances knowledge of the depths at which oil accumulations may occur across the project area as well as wettability of the reservoir rocks. Testing Program and Status. The Company is highly encouraged by the preliminary results received to date from the Merlin-1 testing program, with analysis and interpretation of results ongoing. Once complete, these will be consolidated and integrated into the Project Peregrine database, which will form the basis of future farm-out and exploration on the acreage.   

88 Energy is beefing up its management team; the Company recently non executive chairman Michael Evans retired after 7 years with the Company. 88 Energy has hired Philip Byrne. The energy company also said that Robert Benkovic has been appointed chief operating officer. Mr. Byrne is a petroleum geologist with over 40 years’ experience in the international oil and gas industry across technical, exploration, commercial and executive leadership roles. Mr. Benkovic is a petroleum engineer and subsurface manager with almost 25 years’ experience across the oil and gas industry. 

https://twitter.com/Ninja1Stock/status/1422002040792887301

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88 Energy Ltd is moving steadily northbound with power quickly emerging as one of the most exciting and searched for stocks in small caps. Currently under heavy accumulation EEENF regularly trades $20 million in dollar volume in a day and has a huge international following of shareholders. The Company is currently beefing up its management team after executive chairman Michael Evans retired after 7 years with the Company. 88 Energy has hired Philip Byrne. The energy company also said that Robert Benkovic has been appointed chief operating officer. Mr. Byrne is a petroleum geologist with over 40 years’ experience in the international oil and gas industry across technical, exploration, commercial and executive leadership roles. Mr. Benkovic is a petroleum engineer and subsurface manager with almost 25 years’ experience across the oil and gas industry. As oil continues to rise quickly with some experts now predicting $100 per barrel crude is on the horizon it‘s easy to see why EEENF is being heavily accumulated at current price levels; the Company has been making some big moves behind the scenes including increasing their ownership in the Peregrine mine to 100%, Extinguishing all of their debt, beefed up their management team with a new petroleum engineer and a petroleum Geologist in Philip Byrne and Robert Benkovic. The ex-CEO of the Company David Wall recently doubled his position in EEENF from 120 million shares to 254 million shares. As shareholders await additional core sampling results EEENF is getting noticed by the big boys as they drill the Merlin-1 in the World Class Alaska North Slope recently getting a mention from mining giant ConocoPhillips ( $COP) in a recent shareholder meeting. 88 Energy Ltd hasn 3 properties covering over 410,312 acres targeting the world class North Slope of Alaska estimated by the USGS in 2005 to hold more than 50 billion bbl of oil and natural-gas liquids and 227 trillion cubic feet of gas. Both the Merlin and the Herrier prospects are located on trend to an existing discovery in the same play type (Nanushuk topsets). This has de-risked the prospects considerably and resulted in a relatively high estimated geological chance of success. According to 88E recent release the Company’s total prospects for 3 of their wells; the Merlin, Herrier & Herrier Deep target 1.638 billion barrels of oil. We will be updating on 88E when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with 88E.

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Disclosure: we hold no position in 88E either long or short and we have not been compensated for this article

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LAVA Therapeutics (NASDAQ: LVTX) Gammabody™ Platform Gains Momentum

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LAVA Therapeutics N.V. (NASDAQ: LVTX) shares soared 106% as the company announced that Janssen Biotech, Inc. chose a lead candidate.

LAVA Therapeutics N.V. (NASDAQ: LVTX) shares soared 106% as the company announced that Janssen Biotech, Inc., a part of the Janssen Pharmaceutical Companies of Johnson & Johnson, chose a lead candidate aimed at an undisclosed tumor-associated antigen for further development towards clinical settings.

GAMMABODY™ PLATFORM

LAVA primarily focuses on revolutionizing cancer therapy by developing its Gammabody™ platform. This platform enables them to create bispecific gamma delta T cell engagers that can activate a specific subset of gamma-delta T cells called Vγ9Vδ2 (Vgamma9 Vdelta2) T cells. By utilizing this approach, they aim to enhance the natural recognition of tumors, guide Vγ9Vδ2 T cells to target the tumor cells directly and trigger a cascade of immune responses.

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What sets their Gammabody™ drug candidates apart is their exceptional performance and safety profiles observed in preclinical studies. Compared to other bispecific T cell engager approaches, their candidates have demonstrated superior efficacy and preferred targeting tumor cells. This targeted approach has the potential to minimize toxicity in healthy tissues.

In May 2020, LAVA entered into a research collaboration and license agreement with Janssen, a subsidiary of the Janssen Pharmaceutical Companies of Johnson & Johnson. This collaboration aimed to discover and develop novel bispecific antibody-based gamma delta T cell engagers for cancer treatment. The agreement was facilitated by Johnson & Johnson Innovation, emphasizing their commitment to fostering innovation in the field.

As part of the collaboration, LAVA had the opportunity to receive potential milestone payments and royalties based on the successful development, regulatory approvals, and commercialization of the candidates. This incentivized LAVA to actively pursue the discovery and advancement of promising lead candidates. 

The collaboration represents a remarkable milestone many early-stage biotech companies aspire to achieve. Partnering with a program brings numerous benefits, including reduced risk of dilution through milestone payments as the trials advance and streamlined commercialization once the product receives approval.

Under the terms of the agreement, Janssen will assume responsibility for the selected candidate’s future clinical development, manufacturing, and commercialization. This includes bearing the costs and expenses associated with these activities.

Stephen Hurly, LAVA Therapeutics’s president and chief executive officer, expressed satisfaction with Janssen’s selection of a lead candidate for clinical studies. He emphasized LAVA’s pioneering role in developing gamma-delta bispecific antibodies through their proprietary Gammabody platform. This platform and LAVA’s extensive expertise in bispecific antibody development position them at the forefront of advancing novel therapies for cancer patients.

In summary, LAVA Therapeutics’ collaboration with Janssen has reached a significant milestone in selecting a lead candidate for further development toward clinical studies. This progress underscores LAVA’s dedication to leveraging its Gammabody platform and expertise in bispecific antibody development to revolutionize cancer treatment.

We will update you on LVTX when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Reunion Neuroscience Inc.’s (NASDAQ: REUN) Take-Private Agreement and Its Impact on Mental Health Solutions

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Reunion Neuroscience (NASDAQ: REUN) shares jump 119% as they announce an exciting new development.

Reunion Neuroscience (NASDAQ: REUN) shares jump 119% as they announce an exciting new development. The clinical-stage biopharmaceutical company has entered into a take-private transaction with MPM BioImpact, representing a significant milestone for Reunion Neuroscience. The transaction is valued at $13.1 million, a 43.1% premium to Reunion’s common shares’ 30-day volume-weighted average price.

Going private is a significant step for Reunion Neuroscience, as it means that a sizeable private-equity group or consortium of private-equity firms will purchase or acquire the stock of the publicly traded corporation.

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Under the terms of the Arrangement Agreement, all holders of outstanding common shares of Reunion will be entitled to receive $1.12 in cash for each share held immediately before the effective time of the Arrangement. However, the agreement’s closing is subject to several conditions, which must be met before the transaction can be completed.

Hostile takeover?

While management and the board think it is a significant milestone achieved, others think differently – an investor rights law firm, Halper Sadeh LLC, is currently investigating it… The sale of Reunion Neuroscience to affiliates of MPM BioImpact for $1.12 per share in cash is currently being investigated by Halper Sadeh LLC.

The investigation concerns whether Reunion and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Reunion shareholders; (2) determine whether MPM is underpaying for Reunion; and (3) disclose all material information necessary for Reunion shareholders to assess and value the merger consideration adequately. On behalf of Reunion shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

Reunion Neuroscience’s stock performance has been relatively volatile in recent years. The stock’s median target price, according to analysts’ forecasts, is $5.00, but there is a wide range of estimates, with a high of $20.00 and a low of $0.73. The current consensus among polled investment analysts is to buy $REUN stock. However, they’re a pre-revenue clinical-stage biopharmaceutical company, which means the last earnings reported a loss in the current quarter’s earnings per share – they’ve yet to generate any significant revenue. Until recently, shareholders experienced a significant decline in the stock’s value this year and were down ~54%  prior to the acquisition. There are ~9M shares in the float, with ~28% and ~13% held by insiders and institutional investors, respectively.

Overall, investors should carefully consider the potential risks and rewards associated with investing in Reunion Neuroscience, considering the wide range of price estimates and the company’s current financial performance. Thorough research and the advice of a financial professional are recommended before making any investment decisions.

We will update you on REUN when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Image by Gerd Altmann from Pixabay

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Marker Therapeutics, Inc. (NASDAQ: MRKR) Unveils Exciting Pre-Clinical Findings of MT-601 T Cell Therapy in Lymphoma Cells

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Marker Therapeutics, Inc. (Nasdaq: MRKR) shares surged by 45% as the company released positive pre-clinical Data on one of its candidates, MT-601.

Marker Therapeutics, Inc. (Nasdaq: MRKR) shares surged by 45% as the company released positive pre-clinical Data on one of its candidates, MT-601. They tested it on lymphoma cells in the lab, and the results showed that MT-601 can kill lymphoma cells resistant to another treatment called CD19 CAR T therapy, which is fascinating news considering many patients who receive CD19 CAR T therapy still experience a relapse within a year. 

“We have recently developed a long-term in vitro model to monitor the interaction of T cells with cancerous cells. Data from a lymphoma cell line utilizing this model demonstrated that MT-601 inhibited the growth of lymphoma cells as well as the growth of CD19 CAR-resistant lymphoma cells,” said Eric A. Smith, Ph.D., Director of Research and Development at Marker Therapeutics. Marker has posted further details about this preclinical study on the Investor Relations section of its website.

Dr. Smith continued, “Specifically, we have developed an in vitro model which reproduces the CD19 antigen-negative tumor that causes relapse and observed the following:

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In this in vitro model, 98% of lymphoma cells were eliminated after a CD19-targeting CAR T cell product was administered.

While the CAR T cells significantly controlled lymphoma cell growth, we observed that three weeks after the start of anti-CD19 CAR T cell administration, a population of lymphoma cells resistant to CD19 CAR T cell administration started to grow.

These CD19 CAR-resistant lymphoma cells were tested for CD19 expression. They were shown to be negative for the CD19 surface antigen, which explained why they were no longer controlled with a second administration of anti-C19 CAR T cells, thus recapitulating the antigen-negative relapse observations in CAR relapsed/refractory lymphoma patients.

However, when MT-601, with its broad antigen recognition (Survivin, NY-ESO-1, WT-1, PRAME, MAGE-A4, SSX2), was added to this anti-CD19 CAR T cell resistant cell population, complete growth inhibition was observed.

These data highlight that MT-601 can potentially eliminate CD19 CAR T cell refractory tumors, indicating that MT-601 might offer a viable therapeutic option for lymphoma patients that have relapsed from previous CAR T cell interventions.”

MT-601 targets multiple substances on cancer cells and may provide longer-lasting results than CD19 CAR T therapy. Marker Therapeutics has started a clinical trial to test MT-601 on lymphoma patients who have relapsed after CD19 CAR T therapy or cannot receive it. The early lab results showed that MT-601 could inhibit the growth of lymphoma cells, including those resistant to CD19 CAR T therapy. The initial results have shown remarkable promise, and the team is thrilled to advance the testing of MT-601 in further clinical trials to evaluate its effectiveness and safety.

About Marker Therapeutics, Inc.

Marker Therapeutics is a company currently in the advanced stages of clinical research for developing innovative treatments in immuno-oncology. Their primary focus is on creating next-generation immunotherapies that utilize T cells, a type of immune cell, to target and fight against hematological malignancies (cancers of the blood, such as leukemia and lymphoma) and solid tumors (cancers that form in tissues or organs). These therapies aim to harness the immune system’s power to specifically recognize and eliminate cancer cells, offering potential new treatment options for patients with these types of cancers.

Capital structure

Marker Therapeutics has an outstanding total of 8.8M shares and presents a relatively small float of 6.64M shares available for public trading. Insiders hold approximately 12.82% of the shares, while institutional investors hold around 22.63%. Examining their trading history, the average volume typically hovers around 100,000 shares. In light of the positive news today, the trading activity trended much higher, with an impressive 27M shares traded at time of writing. This translates to a 270-fold increase compared to their average volume, also 4x their float.

It is essential to recognize the high volatility and rapid movements associated with Marker Therapeutics’ stock, primarily driven by the limited availability of shares. Such stocks tend to attract the interest of day and swing traders, given their propensity for swift gains or losses based on trading strategies. As evidence, a single positive news catalyst in the biotech sector can trigger a substantial surge in stock price and exponentially increase trading volume to unprecedented levels.

We will update you on MRKR when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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