Newsmax Completes $150 Million Preferred Placement Ahead of Planned IPO, Extends Offering

 Newsmax Inc. (“Newsmax” or the “Company”) announced today that the Company has successfully raised over $150 million* in its Preferred Stock private offering, in advance of its planned Initial Public Offering, subject to SEC approval.

Due to high demand, Newsmax is extending the Preferred Stock private offering by an additional $25 million, increasing the total offering to $175 million.

“We are excited by the incredible investor interest and overwhelming support we have received for our Preferred Stock offering,” said Christopher Ruddy, CEO of Newsmax.

“This extension is a testament to the confidence our investors have in Newsmax’s future and the tremendous growth we have experienced as we prepare to go public. We look forward to bringing our company to the public markets soon, providing further access for our viewers and supporters to invest in Newsmax and our vision.”

Newsmax has confidentially submitted IPO offering materials with the SEC and is seeking a Public Offering with a planned listing on the New York Stock Exchange under the symbol “NMAX.”

For a limited-time, eligible investors are still able to invest in the private offering shares of the Company’s Series B 7% Convertible Preferred Stock. Newsmax has successfully completed the entirety of its planned $150 million for the Private Offering and the Company is now extending the total offering to $175 million.

The Preferred Shares offered are convertible preferred stock with a 7% accrued dividend. These shares are priced at a 25% discount to the expected public offering price and will be registered for trading at the time of the public offering.

This offering is solely available to accredited investors**.

Qualified prospective investors who meet the qualifications of an “accredited investor” can invest as little as $5,000 in this offering and join Newsmax as a shareholder and owner.

Additional details about the Private Offering and the contemplated Public Offering are available at www.NewsmaxInvest.com.

https://www.businesswire.com/news/home/20250109619650/en/Newsmax-Completes-150-Million-Preferred-Placement-Ahead-of-Planned-IPO-Extends-Offering

Senseonics up on prelims

 With unaudited fourth-quarter income of $8.3 million, Senseonics Holdings (SENS, Financials) added to an expected $22.5 million in overall income for 2024. Reflecting great investor confidence, the stock jumped 42.89% in after-hours trading after the news to reach $0.62.

Approved by the U.S. Food and Drug Administration, the company's Eversense 365 continuous glucose monitoring system has been a main factor for expansion. Through Ascensia Diabetes Care, a commercial partner, Senseonics introduced the device in the United States. While the number of American prescribers hit 1,000 in 2024, the worldwide patient population grew by 56% year over year to around 6,000. With record-high monthly patient shipments, December proved a turning point for the business.

Strategically, Senseonics called off a Special Meeting of Stockholders scheduled to review a reverse stock split. Management explained the choice as input from shareholders and recent share value increase. The business underlined its emphasis on financial stability and long-term development.

Looking forward, Senseonics intends to publish its full-year 2024 figures along with financial projections for 2025. Important considerations include Ascensia's marketing campaigns, financial planning, and legislative developments allowing Eversense 365 to be internationally expanded. Later this quarter, full audited figures should provide further information on the performance of the business.

https://finance.yahoo.com/news/senseonics-stock-surges-42-hours-165028314.html

China Silences Top Economist Over Unflattering Analysis

A top Chinese economist has been censored after his candid remarks about China's lackluster economic growth, The Wall Street Journal reported.

Newsweek has contacted China's Foreign Ministry for comment via email.

The world's second-largest economy has continued to face headwinds since the end of Beijing's strict pandemic-era measures in late 2022, including a real estate crunch, tepid consumer confidence and high youth unemployment.

Many economists, including former Chinese Premier Li Keqiang, have cast doubt on the accuracy of China's growth figures. However, publicly questioning these numbers remains risky, as critics of Xi's policies often face investigations, detention or censorship.

Gao Shanwen, the chief economist at SDIC Securities and a former central bank official, has cast doubt on the accuracy of China's official gross domestic product reports, a long-standing point of skepticism among many analysts.

Last month, the veteran economist suggested at an event that the country's GDP figures could be overstated by several percentage points, angering China's president, The Wall Street Journal reported, citing people familiar with the matter.

Although Gao has reportedly held on to his job, according to the sources, he has been banned from making public statements for an unspecified period of time.

"We do not know the true number of China's real growth figure," Gao said at the December 12 event, which was hosted by a Chinese think tank and the Peterson Institute for International Economics.

In a report published last month, Gao compared China's economic situation to that of other nations that have experienced crises in their property sectors, noting that those countries' economies had contracted by an average -7 percent over three years.

China's GDP growth dropped to 3 percent in 2022 amid extended COVID-19 lockdowns. Gao highlighted inconsistencies in the government's data, estimating a "cumulative overestimation of 10 percentage points," which he said aligned with a significant loss of 47 million jobs in urban areas.

Gao went on to say the numbers would add up if GDP expansion figures were revised down to 2 percent.

Gao Shanwen, the chief economist at SDIC Securities, said at the event on December 12: "My own speculation is that in the past two to three years, the real number [for GDP growth] on average might be around 2 percent, even though the official number is close to 5 percent."

Mary Gallagher, the dean at the University of Notre Dame's Keough School of Global Affairs, wrote in World Politics Review on December 31: "The immediate problem of the economy boils down to anemic growth. Necessary limits on investment-led expansion and the property sector have cut off traditional avenues of growth, while China's household consumption did not make the comeback that many expected with the end of Beijing's draconian 'Zero COVID' policy."

China has set a GDP growth target of about 5 percent after reporting 5.2 percent for 2023.

During his New Year's Eve address, Xi touted recent policies designed to stimulate growth as successful and pledged more proactive measures going forward.

https://www.newsweek.com/china-news-silences-top-economist-over-unflattering-analysis-2012113

Genenta Strengthens Agreement with AGC Biologics to Boost Cell Therapy Manufacturing

 Genenta Science (NASDAQ: GNTA), a pioneer in immuno-oncology and a leader in cell-based therapeutics, is pleased to announce that it has strengthened its partnership with AGC Biologics, a global contract development and manufacturing organization (CDMO), by amending their Development and Master Services Agreement. This amendment introduces an exclusive GMP suite at the AGC Biologics Cell and Gene Center of Excellence in Milan, dedicated to the manufacturing of Genenta’s cell therapy product, ensuring compliance with cGMP standards. This strategic move enhances Genenta’s production capabilities, potentially improving efficiency and reliability in its manufacturing processes.

The newly approved methastatic Renal Cell Cancer (mRCC) Phase 1/2a trial began in Q4 2024, and Genenta expects to treat six patients by the end of the first half of 2025, while continuing progress with the Glioblastoma Multimforme (GBM) study. In total, Genenta projects manufacturing 27 autologous drug products in 2025.

Upcoming Engagements during JPM Healthcare Week: Genenta will participate in Biotech Showcase 2025, taking place January 13–15, 2025, in San Francisco to present its innovative technology for treating solid tumors through genetically modified cell therapy. Pierluigi Paracchi will also speak at "Italy on the Move”, a flagship biotech event organized by the Italian Ministry of Foreign Affairs and International Cooperation. The event, aimed at promoting Italy’s life sciences sector and fostering international investments, will be held on January 15, 2025, at INNOVIT – Italian Innovation and Culture Hub in San Francisco. Notable speakers include Karthic Jayaraman, Partner and Co-Head of Global Healthcare at TPG Capital, and Frederick Beddingfield, CEO of Rubedo Life Sciences. The event will be moderated by Audrey Greenberg, Co-Founder and Executive Managing Director of the Center for Breakthrough Medicines.

https://www.globenewswire.com/news-release/2025/01/09/3006902/0/en/Genenta-Strengthens-Agreement-with-AGC-Biologics-to-Boost-Cell-Therapy-Manufacturing.html

PureTech Receives FDA Fast Track Designation for LYT-200 in Acute Myeloid Leukemia

 Single agent and combination data from Phase 1b AML/MDS trial presented at ASH 2024 showed potential of LYT-200 to serve broad range of patients across various lines of treatment

LYT-200 is currently being evaluated in two Phase 1/2 trials for the potential treatment of AML/MDS and head and neck cancers

https://www.businesswire.com/news/home/20250109191836/en/

Zentalis Azenosertib Fast Track Designation and Virtual Corporate Event

 Azenosertib Fast Track Designation granted for Cyclin E1 positive patients by U.S. Food and Drug Administration (FDA)

Manuscript focused on role of Cyclin E1/CDK2 activation predicting sensitivity to azenosertib published in npj Precision Oncology  

Corporate event to be held on January 29, 2025 to provide updates on azenosertib clinical data, development and regulatory path

On January 29, 2025, at 8:00am ET Zentalis will host a webcast to present data from its studies of azenosertib in PROC and provide a regulatory and development update, including the following:

• Topline results from 102 patients enrolled in Part 1b of the Phase 2 DENALI study (ZN-c3-005) of azenosertib monotherapy in platinum resistant high-grade serous ovarian cancer
• Final results from patients treated at therapeutic doses in the Phase 1b ZN-c3-001 azenosertib monotherapy trial in solid tumors, including 69 PROC patients
• Topline data from 61 patients in the monotherapy arm of the Phase 1/2 MAMMOTH (ZN-c3-006) trial of azenosertib as a monotherapy and in combination with PARP inhibitor (niraparib) in PARP-resistant PROC in partnership with GSK
• Presentation of design of registration-intent study and a regulatory update
• Initial data from the Phase 1 ZN-c3-016 azenosertib + BEACON regimen (encorafenib + cetuximab) trial in BRAF mutant metastatic colorectal cancer in partnership with Pfizer
  

Additional information on the corporate webcast, including registration links and dial in information, will be posted to the Investors & Media section of www.zentalis.com.

https://www.globenewswire.com/news-release/2025/01/09/3006950/0/en/Zentalis-Pharmaceuticals-Announces-Azenosertib-Fast-Track-Designation-and-Virtual-Corporate-Event-to-Present-Updated-Data-from-Azenosertib-Clinical-Studies.html

Amwell divests virtual psychiatric care business for $21m to boost cash flow

 Amwell has sold its virtual psychiatric care business, Amwell Psychiatric Care (APC), to telehealth company Avel eCare for around $21m.

The deal includes APC's technology, personnel and psychiatric clinical network Asana. Along with the cash payment, Amwell is in line for an additional earn-out payment.

Amwell’s CEO Ido Schoenberg said the transaction enables the US company to “place an even greater focus” on delivering “more accessible, affordable and high-quality care”.

Schoenberg added the deal would also help to achieve a positive cash flow in 2026.

Shares in Amwell, listed on the New York Stock Exchange as American Well Corporation, did not change on 9 January as US stock exchanges were closed on a national day of mourning for former President Jimmy Carter.

Shares in the company have plummeted since highs in 2020 and 2021. The company cut 10% of its workforce at the end of 2023 and posted losses of $679m for the same year.

Amwell originally bought the psychiatric care virtual business when it acquired Aligned Telehealth in January 2019 for an undisclosed amount. Aligned Telehealth provided telepsychiatry services, including virtual behavioural and mental health consultations. This was done via a network of clinical experts, with the company specialising in providing behavioural telehealth and telepsychiatry capabilities to hospitals and health plans.

Six years later, Amwell has offloaded the business as it “continues to sharpen its focus on key growth areas, driving greater efficiencies and fulfilling clients’ digital care ambitions”, according to the company. Amwell further stated it has “continuously adapted to market demands” throughout its history.

“The divestment of APC will enable us to increase focus on our unified, world-class digital care platform. The transaction strengthens our balance sheet while emphasising our focus on growing accretive software contribution in our product mix,” said Schoenberg.

The telehealth sector took a big hit when a market trailblazer – Babylon Health – filed for bankruptcy in August 2023. The telehealth market has demonstrated versatility as healthcare is increasingly conducted virtually. According to GlobalData, the market, which was worth $690m in 2015, is expected to reach $3.8bn by 2030. However, the boom in its profitability that was seen during the Covid-19 pandemic is not at the same level. Further market analysis by GlobalData estimates Amwell is the second leading company in the US telehealth market behind Teladoc Health.

https://finance.yahoo.com/news/amwell-divests-virtual-psychiatric-care-171811773.html