BLIS - 27 March Movers

2024-03-27 13:57:15 ET

DENVER, Colo., Mar 27, 2024 ( 247marketnews.com )- This morning’s notable listings with recent news include Treasure & Shipwreck Recovery (OTCPK: BLIS ), iBio, Inc. (NYSEAMERICAN: IBIO ), Trump Media & Technology Group (NASDAQ:DJT), Stoke Therapeutics (NASDAQ: STOK ),

Treasure & Shipwreck Recovery (OTCPK: BLIS ) signed a definitive merger agreement with Native American Pride Constructors (“NAPC”), which has the exclusive license to produce and sell the Corner Shot USA System, in the USA and Saudi Arabia, and already signed an LOI to sell Corner Shot units to Saudi Arabia, valued at approximately $370,000,000, with a net profit margin of at least 20% to NAPC.

NAPC also plans on brokering munitions and military hardware, including more than eleven (11) different munitions and military hardware items that are of interest to Allied and NATO forces in the Ukraine and the Middle East, which require U.S. State Department approval.

Kenny West, CEO of NAPC, stated, “It is our goal to achieve revenue and earnings over the coming years that will qualify us to trade on the NASDAQ. With Corner Shot USA and the brokering business along with our current construction business, we have a company that makes good sense for investors. Our goal is to be one of the strongest growth companies in the U.S. for years to come.”

iBio, Inc. (NYSEAMERICAN: IBIO ) reported, after yesterday’s market close, that it entered into a private investment in public equity (“PIPE”) financing that is expected to generate approximately $15 million, before deducting placement agent fees and offering expenses, with institutional and accredited investors

the $2.85 purchase price represents a 148% premium to yesterday’s close  and the proceeds are expected to extend its operating plan cash runway through fiscal year 2025.

“We appreciate the support of this outstanding group of healthcare specialist investors that shares the vision of leveraging our cutting-edge AI/Machine learning platform to deliver best-in-class drugs,” said iBio’s Chief Executive Officer and Chief Scientific Officer, Martin Brenner, DVM, Ph.D.

LIXTE Biotechnology Holdings (NASDAQ: LIXT ) published pre-clinical data in Cancer Discovery , showing that its lead clinical compound, LB-100, can force cancer cells to give up their cancer-causing properties in a paper entitled “Paradoxical activation of oncogenic signaling as a cancer treatment strategy,” potentially opening a new treatment strategy in addition to LIXTE’s current three clinical trials.

“The effect of LB-100 on cancer cells is unique in that the only way for cancer cells to escape death is to evolve toward a less cancerous behavior. We look forward to testing this concept clinically, which is distinct from the well-characterized enhancement of checkpoint immunotherapy and chemotherapy by LB-100 currently being tested in three clinical trials,” stated Bas van der Baan, Chief Executive Officer of LIXTE

Trump Media & Technology Group (NASDAQ:DJT) commenced trading yesterday.

“We built this company to protect the American people’s voices and their freedom,” commented TMTG CEO Devin Nunes, in this morning’s press release. “Having transformed into a public company, Truth Social remains committed to maintaining and vehemently defending a digital space for free expression.”

Stoke Therapeutics (NASDAQ: STOK ) announced, yesterday, landmark new data from two open-label Phase 1/2a studies and two open-label extension (OLE) studies of children and adolescents ages 2 to 18 with Dravet syndrome who were treated with STK-001, which showed clinically meaningful effects, including substantial and durable reductions in convulsive seizure frequency and improvements in multiple measures of cognition and behavior that support the potential for disease modification.

Stoke Therapeutics later announced that it proposed an underwritten public offering for up to $75 million of shares of its common stock.

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