Media & Technology
Arimoclomol Clinical Trials; the Rise of CytRx Corporation (OTCMKTS: CYTR)
CytRx Corporation (OTCMKTS: CYTR) is making a powerful run up the charts recently surpassing $1 and recent previous highs and embarking on a blue sky breakout. Volume has picked up with CYTR regularly topping the $2 million USD dollar mark in daily dollar volume. Investors remember the big run CYTX made in 2014 helped along by SeekingAlpha articles. The articles and author profile pages were removed after investigation by CNNMoney and aclass action lawsuit was filed against CytRx. The events leading to CytRx lawsuits were revealed by a Seeking Alpha author named Richard Pearson who was shorting the CytRx company stock and the “short attack” was revealed by another Seeking Alpha author PhD. who wrote about the science of aldoxorubicin and revealed the motives behind Richard Pearson’s article to short the company’s stock.
CytRx has a milestone and royalty agreement with Orphazyme A/S for arimoclomol. The agreement can provide CytRx with up to $120M in potential milestones + royalties paid on arimoclomol. Orphazyme is currently studying arimoclomol in clinical trials for 4 indications including Nieman-Pick Disease Type C (NPC), amyotrophic lateral sclerosis (ALS), Gaucher disease and sporadic Inclusion Body Myositis (sIBM). Recently, Orpahzyme announced encouraging clinical trial data with arimoclomol in NPC. NPC is a severely debilitating and fatal disease that predominantly affects children. Orphazyme has received FDA Breakthrough Therapy Designation for arimoclomol for NPC. CytRx’s agreement with ImmunityBio can deliver up to $343 million in potential milestones and future royalties paid on sales of aldoxorubicin’s use for multiple tumor types.
CytRx Corporation (OTCMKTS: CYTR) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer and neurodegenerative diseases. CytRx’s drug candidate, arimoclomol, was sold to Orphazyme A/S (Nasdaq Copenhagen exchange: ORPHA.CO) in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol in four indications including Amyotrophic Lateral Sclerosis (“ALS”), Niemann-Pick Disease Type C (“NPC”), Gaucher disease and sporadic Inclusion Body Myositis (“sIBM”).
CytRx has a milestone and royalty agreement with Orphazyme A/S for arimoclomol. The agreement can provide CytRx with up to $120M in potential milestones + royalties paid on arimoclomol. Orphazyme is currently studying arimoclomol in clinical trials for 4 indications including Nieman-Pick disease Type C (NPC), amyotrophic lateral sclerosis (ALS), Gaucher disease and sporadic Inclusion Body Myositis (sIBM). Recently, Orpahzyme announced encouraging clinical trial data with arimoclomol in NPC. NPC is a severely debilitating and fatal disease that predominantly affects children. Orphazyme has received FDA Breakthrough Therapy Designation for arimoclomol for NPC. They have announced they will be submitting a New Drug Application (NDA) with the FDA in the first half of 2020 and a Marketing Authorization Application with the European Medicines Agency (EMA) in the second half of 2020. Orphazyme is a biopharmaceutical company focused on bringing novel treatments to patients living with life threatening or debilitating rare diseases.
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CytRx also has a milestone and royalty agreement with NantCell, Inc. (now called ImmunityBio, Inc.) for aldoxorubicin which is an improved version of the widely used chemotherapeutic agent doxorubicin. The agreement can provide CytRx with up to $343M in potential milestones + royalties paid on aldoxorubicin. Royalties are increasing double digits on soft tissue sarcomas and increasing single digits in all other indications. ImmunityBio is headed by Dr. Patrick Soon-Shiong, the inventor of Abraxane and an albumin research pioneer in oncology. ImmunityBio is developing aldoxorubicin in multiple phase 1b/2 trials in tumors of very high unmet need including pancreatic cancer, head and neck cancer, triple negative breast cancer and colorectal cancer.
On December 7 CYTR highlighted that Orphazyme A/S (NASDAQ: ORPH) (“Orphazyme”) has announced the expansion of its U.S. presence and workforce ahead of potential FDA approval of arimoclomol for the treatment of Niemann-Pick disease Type C (“NPC”). CytRx has an agreement with Orphazyme that can yield potential milestone payments and future royalties paid on sales of arimoclomol. In addition to establishing its U.S. headquarters in Chicago, Orphazyme has already recruited more than 30 U.S. employees. Orphazyme has also named three U.S. leaders to its global executive team: Molly Painter, U.S. President, is heading the launch and commercial operations in the market. Terri Stevens, Chief Business Officer, is responsible for global strategy, corporate development, and business development and licensing, and Molly Carey Poarch, Global and U.S. Head of Corporate Communications.
Orphazyme’s U.S. team, which is focused on regulatory review efforts and a first potential commercial launch in 2021, includes legal, commercial, finance, advocacy relations, and regulatory and medical affairs functions.
Steven A. Kriegsman, Chairman and Chief Executive Officer of CytRx, commented: “We are very pleased to see Orphazyme establish a strong U.S. footprint by investing in headquarters in Chicago and retaining more than 30 employees ahead of potential commercialization of arimoclomol for NPC upon prospective FDA approval in the first quarter of 2021. In our view, Orphazyme is taking the right steps to begin future distribution and deepen engagement with U.S. providers, patients, regulators, and the clinical testing community in 2021. It is also noteworthy that during the year 2021, Orphazyme may receive a response to its submission for regulatory approval in Europe for arimoclomol to treat NPC. Also, on or before June 30, 2021, Orphazyme is expected to report Phase 3 data on arimoclomol for sporadic Inclusion Body Myositis and Amyotrophic Lateral Sclerosis. We remain optimistic about Orphazyme’s continued progress.”
https://twitter.com/Alexs_trades/status/1338538251544571905
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CYTR is making a powerful run up the charts recently surpassing $1 and recent previous highs and embarking on a blue sky breakout. Volume has picked up with CYTR regularly topping the $2 million USD dollar mark in daily dollar volume. Investors remember the big run CYTX made in 2014 helped along by SeekingAlpha articles. The articles and author profile pages were removed after investigation by CNNMoney and aclass action lawsuit was filed against CytRx. The events leading to CytRx lawsuits were revealed by a Seeking Alpha author named Richard Pearson who was shorting the CytRx company stock and the “short attack” was revealed by another Seeking Alpha author PhD. who wrote about the science of aldoxorubicin and revealed the motives behind Richard Pearson’s article to short the company’s stock. CytRx has a milestone and royalty agreement with Orphazyme A/S for arimoclomol. The agreement can provide CytRx with up to $120M in potential milestones + royalties paid on arimoclomol. Orphazyme is currently studying arimoclomol in clinical trials for 4 indications including Nieman-Pick Disease Type C (NPC), amyotrophic lateral sclerosis (ALS), Gaucher disease and sporadic Inclusion Body Myositis (sIBM). Recently, Orpahzyme announced encouraging clinical trial data with arimoclomol in NPC. NPC is a severely debilitating and fatal disease that predominantly affects children. Orphazyme has received FDA Breakthrough Therapy Designation for arimoclomol for NPC. CytRx’s agreement with ImmunityBio can deliver up to $343 million in potential milestones and future royalties paid on sales of aldoxorubicin’s use for multiple tumor types. Niemann-Pick Disease Type C (NPC) is a rare, genetic and progressive disease that impairs the ability of the body to move cholesterol and other fatty substances (lipids) inside the cells. We will be updating on CYTR when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CYTR.
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Disclosure: we hold no position in CYTR either long or short and we have not been compensated for this article.
Featured
VCI Global (NASDAQ: VCIG) Joins Forces with Microsoft Azure OpenAI: A Tech Revolution Unleashed
VCI Global (NASDAQ: VCIG) is back on the radar with another significant gain of 84%. We wrote about this company just recently in June, where it popped 156% on the announcement of their “Socializer Messenger”. The company is now teaming up with Microsoft Azure OpenAI through its subsidiary, V Galactech Sdn Bhd. This partnership brings together their AI know-how to reshape the world of business solutions, making waves in the tech scene by using Microsoft Azure OpenAI services.
This collaboration is all about meeting the growing demand for tech advancements that are fast, smooth, and globally connected, helping businesses connect better with their customers. It’s also a boost to VCI Global’s AI consulting skills.
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$VCIG we are short 7 a figure position from $8.8
— Benjamin Yo (@short_cap) August 23, 2023
By tapping into what Microsoft Azure OpenAI offers, VCI Global is jumping into the tech world’s fast lane. They plan to come up with some cool innovations, like Generative Pre-trained Transformer 4 (GPT-4) and Microsoft’s new AI-powered chat tool, Bing Chat Enterprise. Plus, they’ll use Microsoft Azure OpenAI’s cutting-edge AI for their projects, including the super-smart AI-assisted sales platform, robosale software.
https://twitter.com/ShortDaPos/status/1694403174566858783?s=20
Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global, is very excited about this partnership. He mentions, “We’re thrilled to dive deep into AI innovations, especially with Microsoft Azure OpenAI. We can’t wait to see how this partnership transforms how businesses connect with customers in the ever-changing tech world. The sky’s the limit, and we’re ready to help our clients ride this AI wave.”
About VCI Global Limited:
VCI Global is a versatile consulting group that’s all about helping businesses with their tech and strategy. They give advice on business strategies, help with investor relations, and provide tech know-how. They mainly work in Malaysia, but they also serve clients in Malaysia, China, Singapore, and the United States, covering a bunch of different industries.
If you want to know more about them, just head to https://v-capital.co/.
About Microsoft Azure Open AI:
Microsoft Azure OpenAI is like a treasure chest of artificial intelligence tools and solutions made to help businesses. They offer everything from AI Services to Machine Learning and AI infrastructure, all aimed at helping businesses make the most of AI for their growth and innovation.
We will update you on VCIG when more details emerge, subscribe to Microcapdaily to follow along!
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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.
Picture by Mohamed_hassan from Pixabay
Mobilicom (NASDAQ: MOB), a company providing cybersecurity and reliable solutions for drones and robotics secures its largest order to date from Teledyne Technologies Incorporated (NYSE: TDY) – shares rocket 123%. $TDY is one of the world’s largest manufacturers of small-sized drones and robotics.
Overview:
This $19B Tier-1 customer has now incorporated Mobilicom’s SkyHopper PRO into its latest small-sized drone platform. This is yet another testament to Mobilicom’s systems as they have already successfully integrated into 44 design wins by various drone and UAV manufacturers.
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More importantly, Teledyne has made significant progress in transitioning from the design phase to production and commercial sales with the U.S. Department of Defense. The company’s latest purchase order appears to reflect only the beginning of potentially multiple recurring orders as they prepare for their first-ever production order for the U.S. DOD.
“As Teledyne-FLIR continues to win additional orders for its small-sized drone platforms with end users such as the U.S. DOD, other federal agencies, and commercial customers, Mobilicom is well positioned for more sales of its Skyhopper Pro,” stated Mobilicom CEO Oren Elkayam. “We see the sales of these systems to the U.S. DOD, one of the largest and most selective procurers of technology, as a strong testament to the excellence of Mobilicom’s market-leading end-to-end solutions.”
$MOB picture perfect daily chart breakout long pic.twitter.com/iotFuWEKfz
— AT09 (@AT09_Trader) July 10, 2023
About SkyHopper PRO:
The SkyHopper PRO is a communication system for drones that ensures secure data transfer. It offers a number of advantages and customization compared to competitors, here’s a quick overview:
Cybersecurity: Prioritizes cybersecurity, ensuring the secure transfer of data between the drone and the ground control station. This feature helps protect sensitive information and prevents unauthorized access or interference.
Reliability: The system is designed to provide robust and reliable communication even in challenging environments. It supports long-range and non-line-of-sight communication, enabling seamless connectivity between the drone and the ground station, even when obstacles are present.
Versatility: Supports multiple transmission modes, including point-to-point and point-to-multipoint communication. This versatility enables various communication setups, such as multi-drone operations and communication to multiple receivers, enhancing flexibility in drone missions.
Industry Integration: Systems have been integrated into numerous design wins by drone and UAV manufacturers indicating their compatibility and suitability for a wide range of platforms. The proven track record of integration demonstrates the system’s adaptability and reliability.
End-to-End Solution: End-to-end solutions for cybersecurity and robust communication. This comprehensive approach ensures seamless integration, streamlined operations, and enhanced overall performance for drone missions.
$MOB nice, market makers back from vacation pic.twitter.com/8pUYs9VUgR
— Jason Rutkowski (@JasonRutkowski3) July 10, 2023
About Mobilicom:
Mobilicom is a leading provider of end-to-end cybersecurity and robust solutions for drones and robotics. They focus on serving global manufacturers in these industries, offering patented Mobile Mesh networking technology and a proven portfolio of commercialized products. With a growing high-profile global customer base, including corporations, governments, and the military, Mobilicom stands out for its outstanding security capabilities and performance in harsh environments. They derive revenue from hardware and software sales, licensing fees, and professional support services.
About Teledyne Technologies (NYSE: TDY):
Teledyne Technologies is a global leader known for its innovative solutions in aerospace and defense, environmental sensing, and digital imaging. The company’s success stems from a strong emphasis on research and development, enabling them to introduce cutting-edge technologies and meet customer needs effectively. With a focus on quality and customer satisfaction, Teledyne Technologies has earned a solid reputation in the industry. Strategic acquisitions have further strengthened their capabilities, expanding their product offerings and market reach. Through adaptability and a commitment to delivering value, Teledyne Technologies has established itself as a prominent player in various verticals in multiple industries, ultimately paving the way for the company’s current $19B stature in the market.
We will update you on MOB when more details emerge, subscribe to Microcapdaily to follow along!
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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.
Picture by Pexels from Pixabay
Featured
Pagaya Technologies (NASDAQ: PGY) Experiences Astonishing Stock Surge: From Struggling to Thriving
Shares of Pagaya Technologies (NASDAQ: PGY) have surged by nearly 70% since early Monday morning. This remarkable increase comes after a period when the global fintech company, known for its expertise in AI-driven financial infrastructure, was struggling to meet NASDAQ’s compliance standards and was trading below one dollar. However, the company’s latest news release has brought about a significant transformation, as Pagaya now appears to be trading strongly above the $1.00 mark.
The cause for these gains appear to be related to their latest announcement of successfully concluding its latest asset-backed securitization (ABS) transaction called PAID 2023-4. The transaction raised a total of $541 million, marking the 39th ABS transaction for Pagaya since 2018 and the seventh in 2023. Pagaya follows a unique funding model where capital is raised in advance before loan origination takes place, positioning them as the top issuer of personal loan ABS transactions in the United States.
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Qualified institutional buyers acquired $541 million in asset-backed notes from this securitization, which primarily consisted of unsecured consumer loan assets. Over the years, Pagaya has conducted ABS transactions totalling more than $16 billion since 2018, providing funding for over $16 billion in new loan originations by US consumer lenders, all facilitated by the power of Pagaya’s AI technology.
Gal Krubiner, the Co-Founder and CEO of Pagaya, expressed confidence in their funding model, AI capabilities, and research and analytics teams, emphasizing the scalable opportunities and solutions they offer to partners and investors. He noted that this latest securitization exemplifies the ongoing strength and demand within Pagaya’s network, which consistently delivers value in the current economic climate.
Pagaya’s technology and network continue to prove their effectiveness. The recent securitization exemplifies how Pagaya’s AI network is uniquely positioned to source high-quality assets from various partners and connect them with top institutional investors, creating a mutually beneficial scenario for all parties involved.
We have come across an informative article that provides insights into the Fintech industry as a whole. The article discusses its notable growth in 2021 and explores the potential of the industry moving forward. You can access the article through the following link:https://ffnews.com/thought-leader/the-rise-and-fall-of-fintech-funding-an-outlook-on-the-fintech-ecosystem-in-2023-and-beyond/
Retail Investors:
Amidst these notable gains, retail investors are actively monitoring various algorithms and chart trends to identify potential entry points. We have compiled a few screenshots featuring ideas from other investors. Notably, one user named “Eliant Capital #4” has achieved significant gains and suggests the possibility of further movement. However it is important to do your own research and come up with your own conclusions, it can be quite risky utilizing the day trading mentality if you’re not experienced.
$PGY sick day today, up nearly 40% on the position pic.twitter.com/hxTn0qQtsa
— Eliant Capital #4 (@eliant_capital) June 27, 2023
Both topics covered in depth in the memo.
1) The gross take rate is 10% which is lower than $UPST now charges. Of the 10%, they are only netting 3% with the rest going to lender partners who are expending all of the S&M dollars to drive CAC. Unlike $UPST, $PGY is able to… pic.twitter.com/VUkHEzZ9Ll— Lake Cornelia Research Management (@CorneliaLake) June 25, 2023
https://twitter.com/spacanpanman/status/1673369017946390528?s=20
$PGY – GREAT POTENTIAL FOR TOMOROW pic.twitter.com/jl4bmbUBlt
— Trade&Invest_365 (@TradeInvest_365) June 28, 2023
$PGY https://t.co/1VigD8t8Uh pic.twitter.com/Q4UCil57Ob
— Eliant Capital #4 (@eliant_capital) June 27, 2023
Additionally, another user named “Dayna Louca” has shared a research update on the company. According to her analysis, $PGY is in the final stages of regulatory approval for their Mid West Clean Energy Project and has initiated a formal Expression of Interest (EOI) process to attract strategic or financial partners. For a comprehensive understanding and careful consideration before making any investment decisions, it would be beneficial to explore the details further. You can find more information and due diligence by referring to the following Tweet:
Pleased to release a research update on @Pilot_EnergyLtd. $PGY is in the final stages of its regulatory approval for the Mid West Clean Energy Project and has commenced a formal EOI process to introduce strategic/financial partners.
Please email dayna@voltecorp.com.au for a copy pic.twitter.com/40zQMRejAM
— Dayna Louca (@DAYNALOUCA_) June 28, 2023
About Pagaya:
Pagaya Technologies (NASDAQ: PGY) is dedicated to democratizing access to life-changing financial products and services by leveraging machine learning, vast data networks, and sophisticated AI-driven approaches. Through its comprehensive consumer credit and residential real estate solutions, Pagaya serves partners, their customers, and investors. By integrating proprietary APIs and capital solutions, Pagaya ensures seamless user experiences and enhanced access to the mainstream economy.
We will update you on PGY when more details emerge, subscribe to Microcapdaily to follow along!
Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!
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.
Picture by Goumbik from Pixabay
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