Target to $10 from $7
Friday, March 1, 2024
Shattuck results & highlights
- Announced positive topline data from the ongoing Phase 1A/B clinical trial of SL-172154 in combination with azacitidine (AZA) in frontline Higher-Risk Myelodysplastic Syndromes (HR-MDS) and frontline TP53 mutant (TP53m) Acute Myeloid Leukemia (AML) patients; initial data build on the dose-escalation data featured in a poster presentation at the American Society of Hematology (ASH) Annual Meeting –
- Completed initial enrollment in Phase 1B dose-expansion cohorts for frontline HR-MDS and TP53m AML patients in the fourth quarter of 2023; additional enrollment ongoing, with updated combination data expected mid-year 2024 –
- Completed enrollment and presented positive interim data from the Phase 1B clinical trial of SL-172154 in combination with pegylated liposomal doxorubicin (PLD) in platinum-resistant ovarian cancer (PROC), which demonstrated an acceptable safety profile and encouraging anti-tumor activity that compares favorably to PLD as a monotherapy –
- Entered into strategic collaboration and license agreement with Ono Pharmaceutical Co., Ltd (Ono) to generate novel bifunctional fusion proteins with the potential to treat autoimmune and inflammatory diseases –
- Completed $50 million offering of common stock and pre-funded warrants in the fourth quarter of 2023, extending cash runway into 2026 –
Cardiff Oncology Results
Cash Position: $75 million in cash and equivalents as of December 31, 2023, with a projected runway into Q3 2025.
Operating Expenses: Increased to $45.9 million for the full year 2023, up from $40.3 million in 2022.
Net Loss: Reported a net loss of $41.4 million for the full year 2023, compared to a net loss of $38.7 million in 2022.
Research and Development: R&D expenses rose to $32.9 million, reflecting investment in clinical programs and development of lead drug candidate, onvansertib.
Revenue: Royalty revenues increased slightly to $488,000 in 2023 from $386,000 in 2022.
On February 29, 2024, Cardiff Oncology Inc (NASDAQ:CRDF) released its 8-K filing, detailing the financial results for the fourth quarter and the full year ended December 31, 2023, and providing a business update. The clinical-stage biotechnology company, known for developing treatment options for cancer patients, particularly in indications with significant medical needs, has reported several key milestones and financial metrics that are critical for investors to understand.
Financial Performance and Strategic Highlights
Cardiff Oncology's financial results reflect a company in the midst of advancing its clinical programs, with a focus on its lead drug candidate, onvansertib. The company reported a net loss of $41.4 million for the full year 2023, which is an increase from the net loss of $38.7 million reported in the previous year. This loss is attributed to the increased operating expenses, which rose to $45.9 million for the year, up from $40.3 million in 2022. The increase in expenses was primarily due to the costs associated with clinical programs and the development of onvansertib.
Despite the increased net loss, Cardiff Oncology's cash position remains strong, with cash and equivalents totaling $75 million as of December 31, 2023. This positions the company with a projected cash runway into the third quarter of 2025, indicating a solid financial footing for the near term.
Adial Awarded New Patent
Strengthens Adial’s patent portfolio and covers AD04’s unique ability to target the serotonin transporter gene for the potential treatment of opioid use disorder
BioVie: Potential Improvements in Motor and Non-motor Symptoms for Parkinson’s
Data from Phase 2a trial in Parkinson’s Disease suggest patients treated with NE3107 experienced significant improvements in non-motor symptoms and motor control while placebo-treated patients worsened
Data from Phase 3 trial in mild to moderate Alzheimer’s Disease suggest NE3107 may have the potential to realign physiological processes in patients consistent with decreased neurocognitive decline and diseases of aging
The presentation Improvement of Non-Motor Symptoms with NE3107 Adjunctive to Carbidopa/Levodopa in Patients with Parkinson’s Disease: A Phase 2A, Placebo-Controlled Study will be presented at 15:10 GMT on March 9, 2024
Missouri accuses Planned Parenthood of 'trafficking' minors to get abortions
Missouri's Republican attorney general on Thursday sued a Planned Parenthood affiliate, accusing it of helping minors travel to Kansas to get abortions without notifying their parents in violation of state law.
The lawsuit by Attorney General Andrew Bailey cites undercover footage released by the conservative Project Veritas last year purporting to show a Planned Parenthood Great Plains employee offer to arrange an abortion for a 13-year-old in Kansas. Missouri law bans nearly all abortions, as well as helping a minor get an abortion out of state without parental consent.
Bailey's office called the lawsuit "the culmination of a multi-year campaign to drive Planned Parenthood from the State of Missouri," accusing it of violating other state laws in the past.
The attorney general is seeking an order from the Circuit Court of Boone County barring the reproductive health organization from helping minors get abortions.
A spokesperson for Planned Parenthood Great Plains said it does not provide transportation directly to patients. Its president, Emily Wales, said in a statement that the lawsuit was "based on 'evidence' from fraudulent, extreme anti-abortion actors" and that the organization would "continue following state and federal laws."
Project Veritas did not immediately respond to a request for comment.
Project Veritas frequently releases hidden camera footage seeking to show alleged wrongdoing by left-leaning organizations. It has frequently been accused of using deceptive tactics.
Missouri is one of about 20 Republican-led states that have banned or restricted abortion since the U.S. Supreme Court in 2022 overturned its 1973 Roe v. Wade ruling, which had guaranteed abortion rights nationwide.
Abortion remains legal until about 22 weeks in Kansas after voters in August 2022 rejected an effort to remove protections for it from the state's constitution.
https://finance.yahoo.com/news/missouri-accuses-planned-parenthood-trafficking-174106884.html
Thursday, February 29, 2024
US Deploys "Project Maven" In Middle East As AI Warfare Underway
Remember in 2018 when thousands of Google employees protested its Pentagon contract called "Project Maven" that used article intelligence technology to analyze drone surveillance footage?
Well, six years after Google did not renew its Pentagon contract for AI work to head off an internal rebellion, that very same technology was used by the US military to identify targets across the Middle East in bombing raids by fighter jets earlier this month, according to Schuyler Moore, chief technology officer for US Central Command, which runs US military operations in the Middle East, who spoke with Bloomberg.
"We've been using computer vision to identify where there might be threats," Moore said in an interview.
She continued: "We've certainly had more opportunities to target in the last 60 to 90 days," adding the US is currently looking for "an awful lot" of rocket launchers in the region.
Moore's comments provide some of the strongest evidence to date that the US military is using AI targeting systems to identify potential strike areas. She noted that even after Google walked away from the project, experimenting has continued with drone or satellite imagery.
Based at Central Command, or Centcom headquarters in Tampa, Florida, Moore revealed that US forces in the Middle East have been testing AI targeting systems using a combination of satellites and other data sources and conducted exercises over the past year with the technology.
"October 7th, everything changed," she said, adding, "We immediately shifted into high gear and a much higher operational tempo than we had previously." She noted the shift from exercises to real-life missions was "a pretty seamless shift" with Project Maven.
However, Moore emphasized that Project Maven's AI capabilities only identify potential targets instead of automatically confirming and killing the target.
A separate Bloomberg report noted:
"A growing number of US military officers predict that AI will transform the way America and its enemies make war, ranking it alongside the radio and machine gun in its potential to revolutionize combat."
Insiders told Bloomberg that Project Maven's core data-fusion platform is developed by Palantir Technologies, and involves critical contributions from Amazon Web Services, ECS Federal, L3Harris Technologies, Maxar Technologies, Microsoft, and Sierra Nevada.
According to Colonel Joseph O'Callaghan, the fire support coordinator for the 18th Airborne Corps and its AI targeting efforts leader, Project Maven, "is not Terminator. The machines aren't making the decisions, they're not going to arise and take over the world."
America's use of AI in warfare for targeting assistance is no longer theoretical. This could be the beginning innings of Skynet.
https://www.zerohedge.com/military/us-deploys-project-maven-middle-east-ai-warefare-underway
Subscribe to:
Posts (Atom)