Stealth BioTherapeutics: Preclinical Data Shows Neuroprotective Effect Of SBT-272

Stealth BioTherapeutics Corp. (MITO) presented promising data from a study evaluating the effects of SBT-272 in a murine model of Parkinson’s disease. The data showed that SBT-272 has a neuroprotective effect in this model of Parkinson’s disease. This was supported by an additional collaborative study between Stealth BioTherapeutics and investigators from the Latvian Institute for Organic Synthesis, in which systemic SBT-272 treatment protected brain mitochondria against damage caused by ischemic stroke.

The company said, taken together, these data highlight the potential of SBT-272 as a systemically administered therapy for treating neurodegenerative diseases.

The company plans to advance SBT-272 in dose-ranging phase 1 clinical studies early next year in addition to initiating chronic toxicology studies to support Phase 2 initiation.

Shares of Stealth BioTherapeutics were up 3% in pre-market trade on Thursday.

AAR Posts Q1 Profit

AAR Corp. (AIR) Thursday reported first-quarter net income of $11.5 million or $0.32 per share, compared to loss of $14.5 million or $0.42 per share last year.

Adjusted earnings from continuing operations in the quarter were $0.52 per share, up from $0.17 per share last year.

Sales dropped to $455.1 million from $400.8 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.48 per share on revenues of $438.39 million for the quarter. Analysts’ estimates typically exclude one-time items.

DGA, SAG-AFTRA, WGA East & Teamsters “Stand In Solidarity” With IATSE

Hollywood’s unions have issued a statement of support for IATSE in its efforts to reach a new film and TV contract with management’s AMPTP, saying that they “stand in solidarity” with IATSE as it prepares to conduct a strike authorization among its members.

The statement was signed by leaders of the DGA, SAG-AFTRA, the WGA East and the International Brotherhood of Teamsters: “On behalf of our hundreds of thousands of members working across film and television, we stand in solidarity with our IATSE brothers, sisters and kin,” the unions said. “The basic quality of life and living wage rights they’re fighting for in their negotiations are the issues that impact all of us who work on sets and productions. We stand with the IATSE.”

The joint statement was signed by DGA president Lesli Linka Glatter and national executive director Russell Hollander; SAG-AFTRA president Fran Drescher and national executive director Duncan Crabtree-Ireland; WGA East president Michael Winship and executive director Lowell Peterson, and Teamsters president James P. Hoffa.

Fran Drescher & Other SAG-AFTRA Leaders Join Chorus Of Actors Supporting IATSE’s Demands For Fair Contract

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IBio Reports Profit In Q4 – Quick Facts

iBio, Inc. (IBIO) said it recorded a profit in the fourth quarter because of the $10.2 million in settlement income, reflecting the value of settlement of litigation with Fraunhofer. The company reported year-on-year decline in revenue, and said significant quarter-to-quarter revenue variability is commonplace for early-stage pharma services companies. Based upon the current outlook, iBio expects a sequential decline in revenue during the first half of fiscal 2022 compared to the second half of fiscal 2021, followed by higher growth in the second half of fiscal 2022. The company said, irrespective of quarterly fluctuations, it anticipates continued year-on-year revenue growth.

Fourth quarter consolidated net gain was $0.1 million compared to a consolidated net loss of $3.5 million, a year ago. Revenue was $0.5 million, a decrease of $0.6 million from prior year.

iBio recorded $97.0 million in cash, marketable securities, and investments in debt securities as of June 30, 2021. The company believes the current cash position is sufficient to fund operations through the first calendar quarter of 2023.

Ritchie Bros. To Acquire SmartEquip For About $175 Mln – Quick Facts

Ritchie Bros. Auctioneers (RBA,RBA.TO) and SmartEquip announced Monday that they have entered into a definitive agreement under which Ritchie Bros. will acquire 100% of the equity of SmartEquip for approximately $175 million.

SmartEquip is a parts and service technology company. Its technology platform allows customers to manage the equipment service lifecycle and conduct fully integrated parts procurement with OEMs and dealers.

Completion of the acquisition is subject to customary closing conditions, including, among other conditions, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

Nike Inc Q1 Income Rises, Beats estimates

Nike Inc (NKE) released earnings for its first quarter that rose from last year.

The company’s profit came in at $1.87 billion, or $1.16 per share. This compares with $1.52 billion, or $0.95 per share, in last year’s first quarter.

Analysts had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 15.7% to $12.25 billion from $10.59 billion last year.

Nike Inc earnings at a glance:

-Earnings (Q1): $1.87 Bln. vs. $1.52 Bln. last year.
-EPS (Q1): $1.16 vs. $0.95 last year.
-Analysts Estimate: $1.11
-Revenue (Q1): $12.25 Bln vs. $10.59 Bln last year.

Salesforce.com Rises 5% Driven By Increased Revenue Outlook

Shares of cloud-based business software maker Salesforce.com Inc (CRM) are up 5 percent on Thursday’s trading as the company slightly lifted its revenue guidance for full year 2022, and provided revenue guidance for fiscal 2023 above the Street view.

For fiscal 2022, the company raised its revenue guidance to a range of $26.25 billion to $26.35 billion from the prior forecast range of $26.2 billion to $26.3 billion. On average, analysts polled by Thomson Reuters currently estimate revenues of $26.31 billion for the year.

For fiscal 2023, the company now projects revenues in a range of $31.65 billion to $31.80 billion, while the Street is looking for revenues of $31.47 billion.

Currently at $269.88, the stock has traded between $201.51 and $275.22 during the past 52 weeks.