Gabriel Luna (L) and Robert Rodriguez attend the "Terminator: Dark Fate" Screening at the Alamo Drafthouse Cinema Slaughter Lane on October 29, 2019 in Austin, Texas. ; Credit: Gary Miller/Getty Images

Movie theaters are starting to reopen, and moviegoers are starting to return. All eight of the Laemmle’s theaters are now reopened, its Glendale location the last to do so a couple weeks ago. Tickets are now on sale for the first time in a year at American Cinematheque's Aero theater. 

Last weekend, “A Quiet Place: Part II” opened with very strong box office grosses. And one of the locations that sold a lot of tickets for the sequel was the Alamo Drafthouse in downtown Los Angeles. The Texas-based boutique chain filed for bankruptcy reorganization in early March. Unlike the Arclight and Pacfic theaters, Alamo was able to come back quickly with many of its theaters reopening in May.

KPCC’s John Horn called up Tim League, Alamo’s founder and executive chairman, to talk about his circuit’s return, the future of moviegoing in a streaming era, and whether or not Alamo might be a buyer of the closed Cinerama Dome in Hollywood. 

Correction: The original broadcast said that American Cinematheque announced screenings at the Rialto Theater in South Pasadena, which was a mistake. 

With contributions from John Horn 

Guest: 

Tim League, founder and executive chairman of the Alamo Drafthouse Cinema

This content is from Southern California Public Radio. View the original story at SCPR.org.

Shot from the film "The Conjuring: The Devil Made Me Do It"; Credit: Warner Bros. Pictures

Larry Mantle and KPCC film critics Amy Nicholson, Wade Major and Charles Solomon review this weekend’s new movie releases on streaming and on demand platforms.

• "The Conjuring: The Devil Made Me Do It," in wide release & HBO Max

• "Spirit Untamed," in wide release

• "Edge Of The World," on VOD (including Google Play & FandangoNow)

• "All Light, Everywhere," at The Landmark Theater; Laemmle’s Playhouse 7 (Pasadena) on June 11

• "City of Ali," Laemmle’s Virtual Cinema; Laemmle’s NoHo 7 on June 17

• "Gully," In Select Theaters including Cinemark 18 and XD (Los Angeles), Cinemark 22 and IMAX (Lancaster); VOD (Youtube & Vudu) June 8

• "On The Trail Of Bigfoot: The Journey," VOD (including iTunes, Amazon Prime Video, Vudu & FandangoNOW) June 8

• "Undine," Laemmle Theaters (Playhouse 7, Newhall, Town Center 5, Royal, Claremont 5); VOD (including iTunes, Vudu, Google Play)

• "Grace And Grit," in select theaters & VOD (including FandangoNow, iTunes, Spectrum on Demand)

• "Super Frenchie," In select theaters & VOD (including Google Play, iTunes & FandangoNow)

• "Bad Tales," In select theaters; Laemmle Virtual Cinema & Monica Film Center; VOD

• "Flashback," VOD (including Vudu, FandangoNow & Spectrum on Demand)

Our FilmWeek critics have been curating personal lists of their favorite TV shows and movies to binge-watch during self-quarantine. You can see recommendations from each of the critics and where you can watch them here.

Guests:

Amy Nicholson, film critic for KPCC, film writer for The New York Times and host of the podcast ‘Unspooled’ and the podcast miniseries “Zoom”; she tweets @TheAmyNicholson

Wade Major, film critic for KPCC and CineGods.com

Charles Solomon, film critic for KPCC, Animation Scoop and Animation Magazine

This content is from Southern California Public Radio. View the original story at SCPR.org.

Circus of Books storefront.; Credit: Netflix/Circus Of Books (2020)

The documentary “Circus of Books”  tells the story of two book stores, one in West Hollywood and the other in Silver Lake, operated by Karen and Barry Mason, who became accidental book sellers. They also became real pillars of the LGBTQ communties. Rachel Mason is the daughter of the masons and she’s also the filmmaker. Larry talked with Rachel about “Circus of Books” when it was first released on Netflix. Today on FilmWeek, we excerpt a portion of that conversation. 

This conversation aired during FilmWeek’s Saturday broadcast. 

Guest: 

Rachel Mason, director of the Netflix documentary ‘Circus of Books’ and daughter of Circus of Books owners Karen and Barry Mason; she tweets @RachelMasonArt

This content is from Southern California Public Radio. View the original story at SCPR.org.

Shot from the film “The Boss Baby: Family Business”; Credit: Dreamworks

Larry Mantle and KPCC film critics Lael Loewenstein, Wade Major and Charles Solomon review this weekend’s new movie releases on streaming and on demand platforms.

• "The Forever Purge," in wide release

• "The Boss Baby: Family Business," in wide release & on Peacock

• "Long Story Short," at Laemmle’s Glendale; & on VOD/Digital (including Vudu, FandangoNow & Google Play)

• "The Tomorrow War," on Amazon Prime Video

• "The One And Only Dick Gregory," premieres on Showtime July 4 at 9 pm PT, available on demand on Showtime following that

• "No Sudden Move," on HBO Max

• "The Ladykillers (Originally released in 1955)," at Laemmle Theaters (Royal, Town Center 5, Playhouse 7)

• "America: The Motion Picture," on Netflix

Our FilmWeek critics have been curating personal lists of their favorite TV shows and movies to binge-watch during self-quarantine. You can see recommendations from each of the critics and where you can watch them here.

Guests:

Lael Loewenstein, film critic for KPCC; she tweets @LAELLO

Wade Major, film critic for KPCC and CineGods.com

Charles Solomon, film critic for KPCC, Animation Scoop and Animation Magazine

This content is from Southern California Public Radio. View the original story at SCPR.org.

Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCQB; LLJA:FSE) announces results from a metallurgical testing program at its wholly-owned Iberian Belt West (IBW) project in Spain. Read why one expert says the company is in "the right place to be."

Global Analyst Adrian Day reviews financials and preliminary reports from some major resource companies as well as developments at others. He also answers a reader's question on Newmont: is it a good buy after the sharp drop after its earnings?

Michael Ballanger of GGM Advisory Inc. shares his thoughts on the silver market and shares one copper stock he believes is a Strong Speculative Buy even though the stock is currently halted.

Full Text:

Earth's magnetic field seems steady and true -- reliable enough to navigate by. Yet, largely hidden from daily life, the field drifts, waxes and wanes. The magnetic North Pole is currently shifting toward Siberia, forcing the Global Positioning System that underlies modern navigation to update its software sooner than expected. Every several hundred thousand years, the magnetic field dramatically shifts and reverses its polarity. Magnetic north flips to the geographic South Pole and, eventually, back again. This reversal has happened countless times over Earth's history, but scientists' understanding of why and how the field reverses is limited. The researchers find that the most recent field reversal 770,000 years ago took at least 22,000 years to complete, several times longer than previously thought. The results call into question controversial findings that some reversals could occur within a human lifetime.

Image credit: Brad Singer

Full Text:

National Science Foundation-funded engineers have developed a mathematical framework that can turn any sheet of material into any prescribed shape, inspired by the paper craft kirigami (from the Japanese, kiri, meaning to cut and kami, meaning paper). Unlike its better-known cousin origami, which uses folds to shape paper, kirigami relies on a pattern of cuts in a flat paper sheet to change its flexibility and allow it to morph into 3D shapes. Artists have long used this artform to create everything from pop-up cards to castles and dragons. This research follows previous work by the researchers that characterized how origami-based patterns could be used as building blocks to create almost any three-dimensional curved shape. Next the researchers aim to explore how to combine cuts and folds to achieve any shape with a given set of properties, thus linking origami and kirigami.

Image credit: Harvard SEAS

Full Text:

A new study shows that the West Antarctic Peninsula is experiencing some of the most rapid climate change on Earth, featuring dramatic increases in temperatures, retreats in glaciers and declines in sea ice. The Southern Ocean absorbs nearly half of the carbon dioxide -- the key greenhouse gas linked to climate change -- that is absorbed by all the world's oceans. The study tapped an unprecedented 25 years of oceanographic measurements in the Southern Ocean and highlights the need for more monitoring in the region. The research revealed that carbon dioxide absorption by surface waters off the West Antarctic Peninsula is linked to the stability of the upper ocean, along with the amount and type of algae present. A stable upper ocean provides algae with ideal growing conditions. During photosynthesis, algae remove carbon dioxide from the surface ocean, which in turn draws carbon dioxide out of the atmosphere. From 1993 to 2017, changes in sea ice dynamics off the West Antarctic Peninsula stabilized the upper ocean, resulting in greater algal concentrations and a shift in the mix of algal species. That's led to a nearly five-fold increase in carbon dioxide absorption during the summertime. The research also found a strong north-south difference in the trend of carbon dioxide absorption. The southern portion of the peninsula, which to date has been less impacted by climate change, experienced the most dramatic increase in carbon dioxide absorption, demonstrating the poleward progression of climate change in the region.

Image credit: Drew Spacht/The Ohio State University

Source: Ed Arce 10/09/2024

H.C. Wainwright & Co. analysts Ed Arce and Thomas Yip, in a research report published on October 9, 2024, maintained a Buy rating on Unicycive Therapeutics Inc. (UNCY:NASDAQ) with a price target of US$2.50. The report follows Unicycive's announcement of the successful completion of the Phase 1 study for UNI-494 in healthy volunteers.

Arce and Yip highlighted the significance of the study results, stating, "UNI-494 showed rapid metabolism, enabling the expected release of nicorandil and its linker." They added, "Importantly, PK results collected in the study showed fast absorption of UNI-494, with rapid metabolism leading to the expected release of nicorandil and its linker."

The analysts noted the safety profile of UNI-494, commenting, "UNI-494 was generally safe and well-tolerated; headache was the most common adverse event (AE), and all AEs were mild with no serious adverse events (SAEs) or AEs leading to withdrawal in Part 1."

Regarding Unicycive's strategic plans, the analysts stated, "Management plans to request a meeting with the FDA by year-end 2024 to review these Phase 1 results and discuss the design of a potential Phase 2 study in patients with acute kidney injury (AKI)."

The report also highlighted the pending milestone for Unicycive's other product candidate, Oxylanthanum Carbonate (OLC), noting, "We await the FDA's formal acceptance of the NDA for Oxylanthanum Carbonate (OLC) for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis (we expect by November 2) with a PDUFA date assignment to further narrow OLC's potential approval timing."

H.C. Wainwright & Co.'s valuation methodology for Unicycive is based on a risk-adjusted Net Present Value (rNPV) model. The analysts explained, "We employ a rNPV valuation model to estimate the value of UNCY shares and arrive at our US$2.50 PT based on: (1) about US$2.30 per share for royalties on net sales of OLC in the U.S. and EU (85% PoS, US$149.1M global peak revenue in 2034); and (2) about US$0.25 per share for royalties on net sales of UNI-494 in the U.S. and EU for AKI (20% PoS; US$195M global peak revenue in 2036)."

They added, "In our valuation model, we employ a 14.5% discount rate, which we believe adequately reflects the overall risks of the Unicycive development pipeline. We conservatively assume zero terminal value after the end of the market exclusivity period that runs through 2037."

The analysts also outlined several risk factors, including regulatory, commercialization, market, intellectual property, and funding risks.

In conclusion, H.C. Wainwright & Co.'s maintenance of a Buy rating and US$2.50 price target reflects a positive outlook on Unicycive Therapeutics' potential in developing UNI-494 for AKI and OLC for hyperphosphatemia. The share price at the time of the report of US$0.36 represents a potential return of approximately 594% to the analysts' target price, highlighting the upside potential if the company's clinical development and regulatory plans prove successful.

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Important Disclosures:

1. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
2. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co., Unicycive Therapeutics Inc., October 9, 2024

Important Disclaimers This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet.

H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility.

H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Ed Arce and Thomas Yip , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Unicycive Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of September 30, 2024 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Unicycive Therapeutics, Inc..

Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The Firm or its affiliates did not receive compensation from Unicycive Therapeutics, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Unicycive Therapeutics, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: UNCY:NASDAQ, )

Source: Dr. Ram Selvaraju 10/18/2024

H.C. Wainwright & Co. analyst Dr. Ram Selvaraju, in a research report published on October 18, 2024, reiterated a Buy rating on Anavex Life Sciences Corp. (AVXL:NASDAQ) with a price target of US$40.00. The report follows Anavex's announcement of encouraging preliminary electroencephalography (EEG) biomarker results from Part A of the ongoing Phase 2 clinical study of ANAVEX3-71 for schizophrenia treatment.

Selvaraju highlighted the significance of these results, stating, "Preliminary results demonstrated a dose-dependent effect of ANAVEX3-71 on two key EEG biomarkers in patients with schizophrenia. Treatment with ANAVEX3-71 vs. placebo resulted in improvements in 40 Hz Auditory Steady-State Response (ASSR) Inter Trial Coherence (ITC) and Resting State Alpha Power."

The analyst viewed these developments positively, noting, "These results provide evidence of CNS target engagement and potential therapeutic effects of ANAVEX3-71 in schizophrenia. The observed changes reversed known EEG and ERP biomarker abnormalities associated with schizophrenia."

Regarding Anavex's lead candidate, blarcamesine, Selvaraju stated, "Anavex remains committed to completing the Marketing Authorization Application (MAA) submission to the European Medicines Agency (EMA) under the Centralized Procedure petitioning for approval of blarcamesine for treatment of Alzheimer's disease (AD) in 4Q24."

The report also highlighted Anavex's progress with other clinical programs, including a pivotal Phase 2b/3 trial in Parkinson's disease and potential trials in Rett syndrome and Fragile X Syndrome.

Selvaraju's valuation methodology for Anavex Life Sciences is based on a discounted cash flow (DCF) approach. He explained, "We utilize a discounted cash flow (DCF)-driven methodology, which ascribes a total value of roughly US$3.25B to blarcamesine alone without ascribing value to any other pipeline assets. We employ a 50% probability of approval in Rett syndrome; 60% in Parkinson's disease dementia (PDD); and 50% in AD."

The analyst added, "Further, we apply a 12% discount rate and 1% terminal growth rate. We derive a total firm value of ~US$3.4B, which yields a 12-month price objective of US$40 per share, assuming 84.8M shares outstanding as of end-F2Q25."

Selvaraju also outlined several risk factors, including potential negative clinical data, regulatory approval challenges, and commercialization difficulties.

In conclusion, H.C. Wainwright & Co.'s maintenance of a Buy rating and US$40 price target reflects a positive outlook on Anavex Life Sciences' clinical progress and potential in developing treatments for neurological disorders. The share price at the time of the report of US$5.51 represents a potential return of approximately 626% to the analyst's target price, highlighting the significant upside potential if the company's clinical development plans prove successful.

Important Disclosures:

1. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
2. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co., Anavex Life Sciences Corp., October 18, 2024.

This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet. H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility.

H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Raghuram Selvaraju, Ph.D. , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Anavex Life Sciences Corp. (including, without limitation, any option, right, warrant, future, long or short position). As of September 30, 2024 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Anavex Life Sciences Corp.. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. Mr. Selvaraju, who is [the][an] author of this report, is the Chairman of and receives compensation from Relief Therapeutics Holding SA, a Swiss, commercial-stage biopharmaceutical company identifying, developing and commercializing novel, patent protected products in selected specialty, rare and ultra-rare disease areas on a global basis ("Relief"). You should consider Mr. Selvaraju's position with Relief when reading this research report. The firm or its affiliates received compensation from Anavex Life Sciences Corp. for non-investment banking services in the previous 12 months. The Firm or its affiliates did not receive compensation from Anavex Life Sciences Corp. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Anavex Life Sciences Corp. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: AVXL:NASDAQ, )

Source: Andrew Fein 10/23/2024

H.C. Wainwright & Co. analysts Andrew S. Fein, Matthew Caufield, Dr. Andres Y. Maldonado, and Dr. Ananda Ghosh, in a research report published on October 23, 2024, maintained a Buy rating on DBV Technologies SA (DBVT:NASDAQ) while raising their price target to US$7.00 from US$5.00. The report follows DBV's announcement of regulatory clarity regarding the path forward for its Viaskin Peanut patch.

The analysts highlighted the significance of the FDA agreement, stating, "DBV Technologies has reached an agreement with the FDA regarding the regulatory pathway for the Viaskin Peanut patch in toddlers aged one to three, under the Accelerated Approval pathway."

Regarding the company's development timeline, the analysts noted, "The Biologics License Application (BLA) submission for Viaskin Peanut in this age group is expected to be supported by positive efficacy and safety data from DBV's completed EPITOPE Phase 3 study, as well as additional safety data from the upcoming six-month COMFORT Toddlers supplemental safety study, which is expected to begin in 2Q25."

The report emphasized the strength of DBV's regulatory position, stating, "The FDA has stated that DBV has already satisfied two of the three criteria: the product treats a serious condition, and the product candidate provides a meaningful advantage over available therapies."

The analysts also highlighted progress in Europe, noting, "The EMA confirmed that the successfully completed EPITOPE Phase 3 efficacy and safety trial in the one to three-year-old population, along with positive results from the VITESSE study in the four to seven-year-old population, and a new safety study using the modified circular patch in one to three-year-olds, could support an MAA for the one to seven-year-old indication with the modified patch."

The analysts' valuation methodology for DBV Technologies is based on a composite approach. They explained, "Our US$7 price target is based on an equally weighted composite of: (a) US$5.10/share, as a 20x multiple of taxed and diluted FY34 GAAP EPS of US$5.13 discounted back to FY24 at 35%; and (b) an NPV of US$8.52/share with a 13% discount rate and 1% growth rate."

The report included commercial projections, with the analysts stating, "We continue to model initial approval in 2027, with projected initial sales of US$17.5M, growing to US$1,182.8M by 2034."

The analysts also outlined several risk factors, including potential clinical study failures, regulatory approval challenges, and market size uncertainties.

In conclusion, H.C. Wainwright & Co.'s increased price target to US$7 reflects growing confidence in DBV Technologies' regulatory pathway for the Viaskin Peanut patch. The share price at the time of the report of US$0.70 represents a potential return of approximately 900% to the analysts' target price, highlighting the significant upside potential if the company successfully navigates the regulatory process and commercializes its product.

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Important Disclosures:

1. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
2. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co. DBV Technologies S.A., October 23, 2024

Important Disclaimers This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet.

H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility.

H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Andrew S. Fein, Matthew Caufield, Andres Y. Maldonado, PhD and Ananda Ghosh, PhD , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of DBV Technologies S.A. (including, without limitation, any option, right, warrant, future, long or short position). As of September 30, 2024 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of DBV Technologies S.A.

Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The firm or its affiliates received compensation from DBV Technologies S.A. for non-investment banking services in the previous 12 months. The Firm or its affiliates did not receive compensation from DBV Technologies S.A. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in DBV Technologies S.A. as of the date of this research report.

The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: DBVT:NASDAQ, )

Source: Streetwise Reports 10/28/2024

Sernova Corp. (SVA:TSX.V; SEOVF:OTCQB; PSH:XERTA) and its Cell Pouch technology could be the solution to existing challenges involving the delivery of medical treatments to patients, such as the ones described here.

Diabetic patients in resource-limited settings are having to revert back to one of the less favored, alternative ways to take insulin, via syringes or glass vials, because Danish pharmaceutical company, Novo Nordisk A/S (NVO:NYSE), will stop making its insulin pens, The Guardian reported. Patients generally prefer this method for dosing themselves with insulin, as shown in a 2024 survey, because it is more convenient and more accurate.

Type 1 diabetic patients already are being impacted as Novo stopped supplying its insulin pens to certain regions, South Africa for instance. Patients there have switched back to using glass vials.

In a second situation, Novo Nordisk is working to bring stem cell-based therapies to patients more efficiently and, in seeking a solution, formed a partnership with Evotec SE (EVO:NASDAQ) to develop technologies that will achieve this, noted Evotec is a Germany-based global biotech firm with its own cell therapy and partnered cell types all in preclinical development for various indications, including diabetes, oncology, cardiology, and ophthalmology.

Per the agreement, Novo Nordisk is to provide research and development funding and potentially monetary incentives to Evotec, and Evotec is to develop the desired new technologies. Novo has the option to obtain exclusive rights to use, in a predefined medical indication, the product(s) born out of this collaboration agreement. Novo's areas of focus, along with diabetes, are cardiovascular diseases, rare diseases, growth hormone-related diseases, hemophilia, nonalcoholic steatohepatitis, and weight management.

Safe, Effective Therapeutic Cell Delivery

Sernova Corp.'s Cell Pouch is a vehicle for delivering various types of therapeutic cells to patients, such as donor islet cells to insulin-dependent diabetics.

When used, the Cell Pouch's containment channels are filled with the appropriate therapeutic cells, and then the device is implanted in the patient. In situ, the cells release therapeutic proteins or hormones the patient's body completely or partially lacks. The device creates a vascularized, organ-like environment that protects the therapeutic cells from immune system attacks, keeping them alive and functioning.

"The Cell Pouch is the most advanced encapsulation device in development," Ventum Capital Markets Analyst Stefan Quenneville wrote in a Sept. 12 research report.

Sernova is testing its Cell Pouch in the clinic, specifically in Type 1 diabetes. In its ongoing Phase 1/2 study, the Canadian company is evaluating the treatment of insulin-dependent diabetes with donor islets implanted via the Cell Pouch, with added immunosuppression therapy. Study data so far have shown the Cell Pouch to be safe and well tolerated and the treatment, effective, reported Dr. Joseph Pantginis, analyst at H.C. Wainwright & Co., in a Sept. 12 research report.

Seven patients, all six of Cohort A and one in Cohort B, achieved sustained insulin independence, between 5.5 and 50 months in duration, free of hypoglycemic episodes. Their blood sugar levels were controlled in the nondiabetic range (i.e.,) HbA1c less than 6.5%.

"The Cell Pouch is the most advanced encapsulation device in development," Ventum Capital Markets Analyst Stefan Quenneville wrote.

A Cell Pouch removed from one of the study patients showed it still contained functioning insulin, glucagon, and somatostatin-producing cells. No evidence was seen of detrimental fibrotic tissue, too many T-cells, material degradation, or changes in the device architecture.

"We believe the impressive response rates and observed durability support Sernova's strategy and justify further investigation while positioning the technology for potential commercial success," noted Pantginis.

The results add to an expanding collection of evidence that the Cell Pouch is functioning as it should. The data also support the "impressive" results already reported from this study and help derisk future related trials.

"If Sernova is successful in bringing its functional cure for insulin-dependent diabetes to the stage where it can go into commercial production, the global market for it will be massive," wrote Technical Analyst Clive Maund in a Sept. 16 note.

In another of its programs, Sernova, in collaboration with Evotec, is developing an implantable off-the-shelf, induced pluripotent stem cell (iPSC)-based islet replacement therapy, Maund reported.

"This partnership provides Sernova a potentially unlimited supply of insulin-producing cells to treat millions of patients with insulin-dependent diabetes (Type 1 and Type 2)," he added.

This partnership was announced on May 17, 2022. You can read more about it in the press release here.

Market Growth Predicted to 2030

The global live cell encapsulation market, encompassing drug delivery, regenerative medicine and cell transplantation, is expected to continue growing through at least 2030, according to Grand View Research. The market's value, US$210.7 million in 2022, is forecasted to increase at a 3.97% compound annual growth rate between that year and 2030.

"If Sernova is successful in bringing its functional cure for insulin-dependent diabetes to the stage where it can go into commercial production, the global market for it will be massive," wrote Technical Analyst Clive Maund.

Along with diabetes, live cell encapsulation is being used to treat neurological disorders like Parkinson's disease, The market research firm noted. Further, it has been proven to be a suitable way to deliver treatment for other types of diseases, including cancer, anemia, heart failure and more.

Several factors are expected to keep driving market growth during the forecast period, Grand View noted. A significant one is the increasing use of live cell encapsulation in regenerative medicine to replace disease or damaged tissues. A related contributor is rising public and private funding and investments in cell and gene therapies.

The advantages of live cell encapsulation in controlled drug delivery are boosting the market, too. They include enhanced therapeutic effects, lowered drug dose, reduced cytotoxicity, improved patient convenience and better patient compliance.

Novel new products and technological advancements are expected to add value to the market as well.

The Catalysts: Progress With Programs

Various potential stock-moving events are slated for Sernova, according to its September 2024 Corporate Presentation.

Two catalysts are expected by Sernova in 2025, related to the company's ongoing Phase 1/2 clinical trial in Type 1 diabetes. One is results for the remaining Cohort B patients. The other is commencement of Cohort C, who will receive, along with the islet cells, an optimized immune suppression regimen.

Several analysts are bullish on Sernova. One of them is Loe, who rates it as a Speculative Buy. His price target on the life sciences firm implies a 455% return from its current share price.

Next year, Sernova plans to start a Phase 1/2 trial of the regeneratively produced islet cells to result from its partnership with Evotec, delivered via the Cell Pouch to Type 1 diabetes patients.

Other catalysts are expected to come as a result of Sernova advancing its preclinical programs. One is a personalized treatment with patient corrected cells via Cell Pouch for hypothyroidism. Another is a Cell Pouch-delivered, ex vivo lentiviral factor VIII gene therapy for hemophilia, being developed in partnership with the European Haemacure Consortium.

Also, through partnerships, Sernova is developing technologies that would eliminate the need for concurrent immunosuppression during Cell Pouch-delivered cell treatment, a "blue sky objective," Douglas Loe, a Leede Financial Inc. analyst, noted in a Sept. 12 research report.

"Any advances in this regard could be incorporated into future Cell Pouch studies," he wrote. "We do not consider the need for such therapy to be relevant to Cell Pouch function itself."

Analyst: Company is "Very Undervalued"

Several analysts are bullish on Sernova. One of them is Loe, who rates it as a Speculative Buy. His price target on the life sciences firm implies a 455% return from its current share price.

According to H.C. Wainwright's Pantginis, the deepening responses of Type 1 diabetes patients in its Phase 1/2 trial continue to "crystallize Sernova stock's possible upside." The upside reflected in Pantginis' price target is 2,122%. The analyst recommends the company as a Buy.

Ventum's Quenneville also has a Buy on Sernova, and his target price reflects an 826% return on investment. In his report, the analyst highlighted the impressive efficacy and tolerability of the Cell Pouch up to five years post-implantation, as shown in the Phase 1/2 clinical trial data.

"This represents the longest-lasting implanted encapsulation device containing functioning islets without fibrosis," Quenneville wrote.

According to Technical Analyst Maund, Sernova is "very undervalued here given its huge potential" in the Type 1 diabetes market, as indicated on the stock charts. The fundamental outlook for the company is improving, and evidence is strong that a reversal to the upside may be happening. SVA may appreciate significantly soon. [OWNERSHIP_CHART-4790]

"Sernova is therefore viewed as a good stock to accumulate in this area, between the current price and recent lows," Maund wrote on Sept. 16. At that time, Sernova's share price was about the same as it is now.

Ownership and Share Structure

According to Refinitiv, about 12.96% of the company is held by insiders and management, and 0.05% by institutions. The rest is retail.

Top shareholders include Tomas Angel with 4.91%, Director Steven Sangha with 4.27%, Betty Anne Millar with 1.32%, Brett Alexander Whalen with 0.87%, and Garry Deol with 0.77%.

Its market cap is CA$83 M. Its 52-week range is CA$0.20−0.82 per share.

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Important Disclosures:

1. Sernova Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Sernova Corp.
3. Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
4. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
5. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

( Companies Mentioned: SVA:TSX.V;SEOVF:OTCQB;PSH:XERTA, )

Source: Dr. David Nierengarten 10/29/2024

Wedbush analysts Dr. David Nierengarten, Dennis Pak, and Dr. Martin Fan, in a research report published on October 29, 2024, maintained their Outperform rating on Kiniksa Pharmaceuticals Ltd. (KNSA:NASDAQ) with a price target of US$34.00. The report follows Kiniksa's Q3 2024 earnings announcement, which showed continued strong growth for Arcalyst.

The analysts highlighted the company's strong quarterly performance, stating, "Net product revenues of US$112.2MM (+73% y/y) slightly edged out our US$112.0MM estimate. Management's updated FY revenue guidance to US$410-US$420MM (previously US$405-US$415MM) implies Q4 revenue of US$115.5-US$125.5MM (3%-12% q/q growth)."

Regarding market penetration, the analysts noted, "More than 11% of patients in KNSA's target RP population of 14,000 patients that suffer from two or more recurrences are now actively on Arcalyst therapy, compared to 9% penetration at YE23." They added, "Notably, ~45% of all new prescriptions were written by repeat prescribers, which accounted for ~25% (640) of total prescriber base."

The analysts emphasized the growing duration of therapy, stating, "Importantly, average total duration of Arcalyst therapy in RP continues to grow, increasing to ~27 months as of 3Q24 from ~23 months as of 1Q24."

Regarding the company's pipeline, the report highlighted progress with abiprubart, noting, "Abiprubart's subcutaneous formulation and potential for once-monthly dosing should provide a greater dosing convenience relative to other agents and support uptake in a crowded but large market (300,000+ patients in the U.S.A.) assuming comparable efficacy."

The analysts addressed the stock's recent performance, stating, "We think today's share action reflects overoptimistic expectations investors may have had following the outsized Q2 sequential growth over a seasonally weak Q1. Net-net, we believe Arcalyst fundamentals remain strong and view current trading levels as an attractive entry point."

Wedbush's valuation methodology is based on a sum-of-parts approach. The analysts explained, "Our PT is derived from a sum-of-parts valuation for each of the company's clinical programs: an 8x multiple to KNSA's share of estimated US sales of Arcalyst in RP in 2027 and CAPS in 2025 (discounted back by 15%), and an 8x multiple to abiprubart's estimated sales in Sjogren's disease in 2029/30 (discounted back by 35%)."

In conclusion, Wedbush's maintenance of its Outperform rating and US$34 price target reflects confidence in Kiniksa's commercial execution with Arcalyst and pipeline potential. The share price at the time of the report of US$23.76 represents a potential return of approximately 43% to the analysts' target price, suggesting a significant upside as the company continues to expand its market penetration and advance its pipeline.

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Important Disclosures:

1. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
2. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for Wedbush, Kiniksa Pharmaceuticals, October 29, 2024

Analyst Certification We, David Nierengarten, Dennis Pak and Martin Fan, certify that the views expressed in this report accurately reflect our personal opinions and that we have not and will not, directly or indirectly, receive compensation or other payments in connection with our specific recommendations or views contained in this report.

Company Specific Disclosures This information is subject to change at any time. 1. WS makes a market in the securities of Kiniksa Pharmaceuticals.

Wedbush disclosure price charts are updated within the first fifteen days of each new calendar quarter per FINRA regulations. Price charts for companies initiated upon in the current quarter, and rating and target price changes occurring in the current quarter, will not be displayed until the following quarter. Additional information on recommended securities is available on request. Disclosure information regarding historical ratings and price targets is available: Research Disclosures *WS changed its rating system from (Strong Buy/ Buy/ Hold/ Sell) to (Outperform/ Neutral/ Underperform) on July 14, 2009. Applicable disclosure information is also available upon request by contacting the Research Department at (212) 833-1375, by email to leslie.lippai@wedbush.com. You may also submit a written request to the following: Wedbush Securities, Attn: Research Department, 142 W 57th Street, New York, NY 10019.

OTHER DISCLOSURES The information herein is based on sources that we consider reliable, but its accuracy is not guaranteed. The information contained herein is not a representation by this corporation, nor is any recommendation made herein based on any privileged information. This information is not intended to be nor should it be relied upon as a complete record or analysis: neither is it an offer nor a solicitation of an offer to sell or buy any security mentioned herein. This firm, Wedbush Securities, its officers, employees, and members of their families, or any one or more of them, and its discretionary and advisory accounts, may have a position in any security discussed herein or in related securities and may make, from time to time, purchases or sales thereof in the open market or otherwise. The information and expressions of opinion contained herein are subject to change without further notice. The herein mentioned securities may be sold to or bought from customers on a principal basis by this firm. Additional information with respect to the information contained herein may be obtained upon request. Wedbush Securities does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Please see pages 3–7 of this report for analyst certification and important disclosure information. Retail Investors The information provided is for general informational purposes only and should not be considered an individual recommendation or personalized investment advice. The companies/investments mentioned may not be suitable for everyone. Each investor needs to review their own respective situation(s) before making any investment decisions. All expressions of opinion are subject to change without notice due to shifting market(s), economic or political conditions. Investment involves risks including the risk of principal. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.

( Companies Mentioned: KNSA:NASDAQ, )

Source: Streetwise Reports 11/08/2024

Vertex Pharmaceuticals Inc. (VRTX:NASDAQ) has reported a robust financial performance for the third quarter of 2024. The report has demonstrated the company's continued revenue growth and the strengthening of its innovative pipeline. For Q3 2024, Vertex's product revenue reached US$2.77 billion, a 12% increase from the previous year. This was primarily driven by strong demand for its TRIKAFTA®/KAFTRIO® therapies. Based on this momentum, Vertex raised its full-year product revenue guidance to a range of US$10.8 billion to US$10.9 billion, citing a solid trajectory in its cystic fibrosis (CF) portfolio and expected future launches.

In Q3, the company made notable advancements in its pipeline. Three programs have begun moving into Phase 3 clinical development: suzetrigine in diabetic peripheral neuropathy (DPN), povetacicept in IgA nephropathy (IgAN), and VX-880 in type 1 diabetes (T1D). Vertex is also preparing for the launch of two potential treatments in early 2025, with PDUFA dates set for January 2 for the vanzacaftor triple therapy for CF and January 30 for suzetrigine, the latter being a pain medication in a new therapeutic class aimed at reducing reliance on opioids.

GAAP and Non-GAAP net income both reached US$1.0 billion, largely driven by increased product revenue, which offset rising R&D and SG&A expense. This was s due to investments in global commercialization and late-stage clinical development. For Q3, Vertex's combined R&D and SG&A expenses were US$1.2 billion and US$1.1 billion, respectively, an increase from last year attributed to new global program advancements and upcoming launch support.

Vertex's cash position remained strong, with US$11.2 billion in cash, cash equivalents, and marketable securities as of September 30. The decline from US$13.7 billion at the end of 2023 primarily reflects the acquisition of Alpine Immune Sciences and share repurchases under the company's buyback program.

A Look At Biotechnology and Pharma

The U.S. Pharmaceuticals Report for 2024 by Nova One Advisor detailed the size and growth trajectory of the U.S. pharmaceutical market. Valued at US$602.19 billion in 2023, the sector is projected to exceed US$1 trillion by 2033. The report pointed to a "high healthcare expenditure provided by government bodies" as a primary growth driver, further bolstered by the aging population's demand for advanced treatments.

In an October 24 article, The Investing News Network reported on a dynamic landscape within the biotechnology sector. The report highlighted advancements in AI-powered drug discovery. Despite a cautious investment climate, interest remained strong in AI's potential to reshape healthcare, with venture capital investment reaching US$6.59 billion. At the HealthTech Ignite conference, Susie Roberts from Relay Therapeutics expressed confidence, noting, "We will definitely see AI design drugs in the next 10 years."

On November 4, Yahoo! Finance shared insights from MIT professors Andrew Lo and Dennis Whyte. They emphasized that biotechnology's rapid advancement over the past five decades offers valuable lessons for future innovation. In their research paper, Lo and Whyte proposed initiatives to accelerate biotechnology's growth, underscoring the importance of "reducing risk and uncertainty" to foster a robust investment ecosystem that supports groundbreaking discoveries.

Catalysts Driving Vertex Pharma

According to Vertex's November 2024 investor presentation, the company sees multiple growth catalysts over the next few years. Vertex aims to meet its goal of achieving "five launches in five years," focusing on expanding the treatable patient base in CF with vanzacaftor triple, addressing critical needs in sickle cell disease (SCD) and beta thalassemia (TDT) with CASGEVY, and launching suzetrigine for acute pain management.

Additionally, Vertex expects its expansive R&D pipeline to support long-term growth. This includes pivotal clinical trials for VX-880 in T1D, povetacicept in IgAN, and NaV1.8 pain inhibitors like suzetrigine, indicating a commitment to treating a range of chronic and life-threatening conditions with limited therapeutic options.

By driving advancements in CF therapies, diversifying its portfolio with novel pain treatments, and pursuing accelerated approvals for renal and blood-related disorders, Vertex is strategically positioning itself to sustain growth and achieve several near-term milestones.

What Are Experts Saying About Vertex?

In a November 5, 2024, H.C. Wainwright & Co. update, the analysts highlighted promising data from Vertex's recent Phase 2 trial for suzetrigine, which showed encouraging reductions in pain intensity. [OWNERSHIP_CHART-4085]

The analysts noted that suzetrigine's peripheral nervous system-specific mechanism could potentially address "a significant, unmet medical need worldwide" in non-opioid pain management. They set a price target of US$600.00, projecting Vertex's continued growth from its strong cystic fibrosis franchise and pipeline expansion.

From the November 7 Kingswood Capital Partners report, analysts noted Vertex Pharmaceuticals' "sustained execution" in advancing product development programs and achieving robust operating margins, enabling "continued, significant investments" in both its pipeline and commercial capabilities. The firm maintained a "Buy" rating with a 12-month target price of US$550.00, attributing this outlook to Vertex's deep cash resources and historical successes in clinical trials.

Ownership and Share Structure

According to Refinitiv, 95.44% of Vertex Pharmaceuticals is held by Institutions. The top among them are Capital World Investors at 10.37%, The Vanguard Group at 8.88%, BlackRock Institutional Trust with 5.49%, State Street Global Advisors (US) with 4.55%, and Fidelity Management and Research with 4.11%. Strategic Investors hold .12%. The rest is retail.

The company's market cap is US$129,395.59 million with 257.07 million free float shares. The 52 week range is US$341.90–$510.64.

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Important Disclosures:

1) James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.

2) This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

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( Companies Mentioned: VRTX:NASDAQ, )

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Halima Aden attends the premiere of Netflix's Travis Scott: Look Mom I Can Fly at Barker Hangar on Aug. 27, 2019, in Santa Monica, Calif.; Credit: Rich Fury/Getty Images

For Halima Aden, the decision to walk away from a career as the world's first hijab-wearing supermodel was fairly clear cut. She's felt used for so long, she says — by the modeling industry and by UNICEF, the organization she was photographed by as a child in a refugee camp in Kenya and later served as an ambassador for.

Aden has been featured on the covers of Vogue, Elle and Allure magazines. And she walked the runway for Rihanna's Fenty Beauty and Kanye West's Yeezy.

She tells Morning Edition host Rachel Martin she wanted to be a role model for young girls while being true to herself, but she wasn't accomplishing either. Modeling, she realized, was in "direct conflict" with who she is.

"I'm not a cover girl, I'm Halima from Kakuma," she says. "I want to be the reason why girls have confidence within themselves, not the reason for their insecurity."

Aden was raised in the Kakuma refugee camp in northwestern Kenya. She and her family moved to Minnesota in 2004 when she was 7.

It was there her journey as a model began, competing for Miss Minnesota USA in 2016, seeking a scholarship. She finished in the semifinals, and says from there, modeling "fell from the sky" into her lap.

Interview Highlights

You saw [modeling] not just as a chance to wear gorgeous clothes and to have your photo in magazines but also as a way to help people.

Growing up in America, not seeing representation, not seeing anybody who dressed like me look like me, it did make me feel like, wow, what's wrong with me, you know? And I'm sure if I had if I would have had representation growing up, I would have been so much more confident to wear my hijab, to be myself, to be authentic. But to be that person, to grow up and be on the cover of magazines, I've covered everything from Vogue to Allure, some of the biggest publications in fashion. And yet I still couldn't relate personally to my own image because that's not who I really am. That's not how I really dress. That's not how my hijab really looks. And, you know, fashion, it can be a very creative field, and I completely appreciate that. But my hijab was just getting spread so thin that I knew I had to give it all away, give it up. I'm not a cover girl. I am Halima from Kakuma. I want to be the reason why girls have confidence within themselves, not the reason for their insecurity.

When you say your hijab was being kind of styled out of existence, what passed for a hijab as you were walking down those runways?

Everything. Oh, my goodness. I had jeans at one point on my head as a hijab. I had Gucci pants styled as a turban. It just didn't even make sense, and I felt so far removed from the image itself.

During the pandemic you decided to walk away from fashion and UNICEF. Was it a complicated decision?

I'll be honest with you, the feelings that I've had towards the fashion industry and UNICEF, it was just multiplying as the years went on, so it was just festering. You know, because the fashion industry is very known to use these young girls and boys while their young, age 14 to like 24, I think is the average career of a model. And then they just replace them and move on to a newer model. And same with UNICEF. They've been photographing me and using me since the time I was a baby in a refugee camp. I remember getting those headshots taken and it made me feel, it's very dehumanizing. And so I wanted to show UNICEF, too. How does it feel to be used? It's not a good feeling. And so let's stop using people.

What are you going to do [next]?

For me right now, I don't know what's next. And that's OK. That's OK, because I'm young and I have time to figure it out. And I'm grateful. I'm grateful to the people that I've met. I'm grateful to the agents that I worked with. I'm grateful for the experiences I was able to have these last four years. But at the same time, I just am also grateful that I don't have to do that anymore because it was in direct conflict with who I am as an individual, as a human being.

This content is from Southern California Public Radio. View the original story at SCPR.org.

From left, jazz musician Louis Armstrong in Rome in 1968, Janet Jackson at the Essence Festival in New Orleans in 2018, and Nas at the Essence Festival in 2019. Works by each of these musicians are among 25 recordings being inducted to the National Recording Registry.; Credit: /AP

What do Janet Jackson, Ira Glass, Kermit the Frog, Nas and Louis Armstrong have in common?

These musicians, interviewers, and frogs are behind songs and other recordings to be inducted into the Library of Congress's National Recording Registry on Wednesday.

The Library of Congress announced the 25 titles picked this year are considered "audio treasures worthy of preservation" based on their cultural, historical, or aesthetic importance to the nation's heritage.

Janet Jackson's album "Rhythm Nation 1814;" Louis Armstrong's performance of "When the Saints Go Marching In;" Patti Labelle's song "Lady Marmalade;" Nas' record "Illmatic," Kool & the Gang's "Celebration;" and Kermit the Frog's "The Rainbow Connection" are now part of the collection of more than 550 other titles.

"The National Recording Registry will preserve our history through these vibrant recordings of music and voices that have reflected our humanity and shaped our culture from the past 143 years," Librarian of Congress Carla Hayden said in a statement Wednesday.

The recordings, stretching from 1878 to 2008, were chosen out of 900 nominations from the public, Hayden said.

"This American Life" is the first podcast to join the registry. The 2008 episode co-produced with NPR News telling the story of the subprime mortgage crisis will be added to the collection.

"When we put this out as a podcast, turning a radio show into a podcast, we did literally nothing to accommodate it," host Ira Glass said in a statement shared by the Library of Congress. "And my theory is that podcasting is most powerful for the same reason that radio is the most powerful. That is, when you have a medium where you're not seeing people, there's just an intimacy to hearing somebody's voice."

The inclusion of Kermit the Frog's "The Rainbow Connection" deeply touched the Muppet.

"Well, gee, it's an amazing feeling to officially become part of our nation's history," Kermit said in a statement. "It's a great honor. And I am thrilled — I am thrilled! — to be the first frog on the list!"

The song was included in the 1979 "The Muppet Movie" performed by Jim Henson as Kermit the Frog, and written by Paul Williams and Kenneth Ascher.

Williams said the song is about the "immense power of faith."

"We don't know how it works, but we believe that it does," Williams said. "Sometimes the questions are more beautiful than the answers."

Under the terms of the National Recording Preservation Act of 2000, the Librarian of Congress selects 25 titles each year that are at least 10 years old.

This content is from Southern California Public Radio. View the original story at SCPR.org.

; Credit: /Katherine Du

Over the years, NPR's poetry community has turned both painful and joyful experiences into magnificent work.

As the world still endures the coronavirus pandemic, the U.S. also grieves over increased violence against Asian Americans and a mass shooting in Georgia that left six women of Asian descent dead.

"Let's be clear: Anti-Asian violence and discrimination are not new. But, this racism seems to be heightened," says Kwame Alexander, NPR's resident poet. "And the onus is not on Asian Americans to figure this out. Frankly, it's on white people, it's on the rest of us — individually, systemically, to talk about it, to pay attention to, advocate against it."

"Between Autumn Equinox and Winter Solstice, Today," by Emily Jungmin Yoon, is a list poem that reflects the coldness of the world and how it wears on us. Yoon is a South Korean-born poet pursuing her Ph.D. in Korean literature at the University of Chicago.

Alexander and Morning Edition's Rachel Martin ask listeners: How do you cope with recent anti-Asian violence and discrimination? Tell us in a list poem.

Your poem doesn't have to rhyme. It just needs to have an ordered list with details that show your state of mind — and must begin with the word "today."

Share your poem through the form below. Then Alexander will take lines from some of your pieces and create a community crowdsourced poem. Alexander and Martin will read it on air, and NPR will publish it online, where contributors will be credited.

Submissions are due by noon ET on Monday, April 5.

Here are the terms of the callout:

By providing your Submission to us, you agree that you have read, understand and accept the following terms in relation to the content and information (your "Submission") you are providing to National Public Radio ("NPR," "us" or "our"):

You are submitting content pursuant to a callout by Morning Edition related to a segment with Kwame Alexander wherein he creates unique poetry based on listener submissions. You understand that you are submitting content for the purpose of having Kwame use that content to create a new poem or poems ("Poem") with the material you submit. You must be over the age of 18 to submit material.

You will retain copyright in your Submission, but agree that NPR and/or Kwame Alexander may edit, modify, use, excerpt, publish, adapt or otherwise make derivative works from your Submission and use your Submission or derivative works in whole or in part in any media or format and/or use the Submission or Poem for journalistic and/or promotional purposes generally, and may allow others to do so. You understand that the Poem created by Kwame Alexander will be a new creative work and may be distributed through NPR's programs (or other media), and the Poem and programs can be separately subject to copyright protection. Your Submission does not plagiarize or otherwise infringe any third-party copyright, moral rights or any other intellectual property rights or similar rights. You have not copied any part of your Submission from another source. If your Submission is selected for inclusion in the Poem, you will be acknowledged in a list of contributors on NPR's website or otherwise receive appropriate credit, but failure to do so shall not be deemed a breach of your rights.

Your submission will be governed by our general Terms of Use and Privacy Policy. As the Privacy Policy says, we want you to be aware that there may be circumstances in which the exemptions provided under law for journalistic activities or freedom of expression may override privacy rights you might otherwise have.

This content is from Southern California Public Radio. View the original story at SCPR.org.

The pandemic has once again felled Burning Man. Some burners still plan to gather for informal events on the dusty Black Rock Desert Playa this summer.; Credit: Bernard Friel/Education Images/Universal Images Group via Getty Images

And so it goes: Burning Man 2021 is canceled. It's the second year in a row, the popular arts festival won't be held in Nevada's Black Rock Desert due to the pandemic.

"We have decided to set our sights on Black Rock City 2022," event officials announced in a blog post on Tuesday. In a frequently-asked-questions section, organizers added: "We've heard from many who don't feel ready to come to Black Rock City. While we're confident in our ability to get a permit and to safeguard public health, we know that co-creating Black Rock City in 2021 would put tremendous strain on our community while we are still ironing out uncertainty."

Many would-be attendees praised the decision in comments on the Burning Man website and on social media as a safe one; others are anxiously anticipating a bigger and better 2022 Burn.

But the cancellation has put many people in the event's host community at ease.

Wary of a trend of rising coronavirus cases in some parts of the region, Washoe County's district health officer Kevin Dick said "the right call was made," in order to lower the risk of spreading infection.

"The event draws thousands of people from all over the world," Dick said in an email. "We are seeing large outbreaks of COVID-19 occurring in a number of countries, areas where very contagious COVID-19 variants of concern are prevalent and where low rates of vaccination are occurring."

The head of a local Paiute tribe is also feeling less burdened knowing there won't be the annual pilgrimage. The main highway to get to the Black Rock Desert playa, which normally draws tens of thousands of people to the summer event, cuts through tribal lands.

"For us it is a sigh of relief," said Janet Davis, chairwoman of the Pyramid Lake Paiute Tribe.

Although the event — which brings in about $63 million to the state annually — gives the tribal community a welcome financial boost, Davis said.

"We don't know who's vaccinated and who's not," she said. "We've been trying to keep our reservation safe and that happening was too soon for us to open."

As with last year, the organization will offer virtual programming during Burn Week, from Aug. 29 through Sept. 7, an experience they say drew 165,000 participants in 2020.

In response to a request for more details on the reasons for the cancellation, Burning Man organizers declined to comment further. Earlier this month, though, CEO Marian Goodell said the organization was "weighing the gravity" of implementing a vaccination requirement that she said challenged "radical inclusion," one of the group's 10 principles.

Still, for many burners, the news won't extinguish their plans to trek to the desert in droves. Just like last year, revelers are preparing to hold unofficial gatherings on public land in place of the annual event.

Last summer, those events — the so-called "rogue" and "free" burns or, unmistakably, "Not Burning Man" — drew an estimated 3,000 people to Black Rock Desert during the time Burning Man is normally held, according to the Bureau of Land Management, the federal agency that approves the organization's permits each year.

Kevin Jervis, one such attendee who now lives in Gerlach — a tiny desert town near the event site — welcomed this year's cancellation.

He called it "more of a relief than anything. ... A lot of us liked it better the way it happened last year."

During the informal festivities, Jervis spent a few days between the playa and its outskirts. He said he and his fellow burners felt like it represented the festival's freewheeling roots.

"I've had friends that have been going since '94 and they said it was a lot more like it used to be. We didn't have to go by regulations," he said. "We could have guns, dogs ... it was a lot freer."

Even before the pandemic, burners increasingly saw an annual gathering under siege.

Event-goers who adhere to Burning Man's counterculture beginnings say the festival's explosion in popularity in the past decade has welcomed a host of bad actors who trash the desert and surrounding communities and disregard the event's founding principles, including "decommodification" and the eco-friendly philosophy of "leave no trace."

Some of those perceived threats come from festival officials themselves, he said. A ticket to the main event alone cost over $400 in 2019 — a financial hurdle critics say goes against another tenet long espoused, that "everyone is invited."

"People that have never been before came out last year because they either couldn't get a ticket other years or they were just kind of curious. Or they didn't have the money to go to the actual Burn," said Jervis.

As for the Pyramid Lake Paiute community, with the reservation largely closed during that period last year, Davis said, "we really didn't see the impact" from a public health standpoint.

"You're not talking about 65 — 75,000 people." While there was more traffic, she said, "they moseyed on through and moseyed on out."

In the years leading up to the pandemic, BLM had been cracking down on the event's growth. Were the festival to return this year, Burning Man organizers said they would have had to meet a population cap of 69,000, down from its 80,000 limit for previous events.

Jervis says he won't miss what he describes as organizers' leniency toward "elites" who set up VIP areas at their camps and hire out to construct their art creations instead of making their own.

"A lot of people have gotten sick of what Burning Man's kind of become," he said.

Even if this year was a go, he said, burners would still be setting up their own Burning Man-adjacent happenings.

Following the announcement of the event's cancellation, people are taking to Facebook groups to reminisce about last year's unsanctioned burns and discuss preparations for their own this summer.

"So it seems that as of today there isn't going to be an official [Burning Man Ceremony] this year," James Zapata wrote. "So who's joining me in the dust?"

This content is from Southern California Public Radio. View the original story at SCPR.org.

Omineca Mining and Metals Ltd. (OMM:TSX.V; OMMSF:OTCMKTS) announced it is set to restart mining and gravel extraction at its Wingdam placer gold project in British Columbia's historic Cariboo Mining District. Read why one expert thinks its new methods are a key to possible success.

Centerra Gold Inc. (CG:TSX; CADGF:OTCPK) has received varied analyst ratings following updates to its Q3 2024 financial results and projections. Read more on the latest analyst insights and how Q3 projections have shaped varied ratings for this gold producer.

Vox Royalty Corp. (VOXR:TSX.V) reported its Q3 2024 financial results. Read more on how strong cash flow growth, record production, and key project milestones are driving these results.

Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB) has announced its participation in three significant mining investment conferences scheduled for November 2024. Read more about the company's plans to showcase major project updates and connect with global investors at these key events.

GoldMining Inc. (GOLD:TSX; GLDG:NYSE.American) released results from its ongoing 2024 auger drilling program at the Sao Jorge Project in the Tapajos gold district, Para State, Brazil. Read more about high-grade gold intercepts and new exploration targets at So Jorge as GoldMining extends its search in Tapajs.

Technical Analyst Clive Maund shares his opinion on gold's outlook post Trump's election win.

The permit center is in the process of adding QR Codes to the permit hard card.  The following is an explanation about how the code works from Steve Lackey.   By Steve Lackey Along with the use of smartphones and other related devices, QR Codes are becoming quite popular and useful.  Called “Quick Response Codes”, they store [...]

Over the last few years Catawba County has implemented many different ways for citizens to receive information and  interact with us.  I titled this Social Media because that term is recognized by everyone on the web.  It would be more appropriate to title it “Citizen Interaction with Catawba County” or just “Communicating” . And note [...]

Are you digitally prepared for the winter? Seems easy until you have no power and your battery in your mobile device is dead. Don't be caught digitally unprepared.

People come to Catawba County’s web site for many reasons. One is for the information and data that they find there.  The site has always been rich in information about the county and services that are provided. In recent years, as more and more people wanted data in digital format, many datasets were moved to [...]

Special Presidential Envoy for Climate John Kerry tells NPR that the U.S., China and other major emitters aren't doing enough to stem climate change.; Credit: Alex Wong/Getty Images

President Biden is pledging to reduce greenhouse gas emissions by 50-52% from 2005 levels by 2030.

It's an ambitious goal that requires transforming much of the economy. Renewable energy would need to make up half of the U.S. power supply from roughly 21% currently. Electric cars make up about 2% of sales now — by 2030, at least half, potentially all, new car sales would need to be electric, according to estimates. Many industrial manufacturing facilities would need to use technologies that haven't been developed.

It's part of Biden's effort to get the U.S. on track to reach the goals of the 2015 Paris Climate Agreement to keep global temperatures from rising more than 1.5 degrees Celsius. Former President Donald Trump withdrew the U.S. from the agreement but Biden has formally rejoined.

John Kerry is Biden's special envoy for climate, a position that involves meeting with countries around the world about efforts to stem emissions.

He calls the threat of climate change "existential."

"That means life and death. And the question is, are we behaving as if it is? And the answer is no," Kerry said in an interview on NPR's All Things Considered.

This interview has been edited for length and clarity and includes extended Web-only answers.

Interview Highlights

Is this more a matter of shoot for the moon and if you miss, at least you'll land among the stars?

No, I think it's achievable. And I think that people who've really studied this, analyzed it and thought about it for a long period of time believe it is achievable.

Already the [car] marketplace is moving towards electric. I mean, you know, Joe Biden didn't create the value of Tesla as the most valuable automobile company in the world. The market did that. And the market did it because that's where people are moving.

The scale of change that you're talking about in the timeframe that is required is something we've never seen in human history.

Let me put it to you this way. How many politicians, how many scientists, how many people have stood up and said, "This is existential for us on this planet"? Existential. That means life and death. And the question is, are we behaving as if it is? And the answer is no.

So why are younger generation folks so angry? Why are they standing up and demonstrating and asking adults to accept adult responsibility to move our nations in the right direction? Because the scientists are telling them that. They learn about this in high school and college. They read. They know what's happening. They know we're experiencing the hottest day in human history, the hottest week, the hottest month, the hottest year. And we see the results. Fires, floods, mudslides, drought, crop disruption, ice melting in the Arctic, run the list.

Climate change is still seen as a partisan issue in the U.S., and Republicans could take over Congress next year. A Republican could win the White House in three years. So why should global leaders view this as a reliable commitment from the United States when GOP leaders have not bought in?

For two reasons. No. 1, when Donald Trump was president of the United States and he pulled out of the agreement, 37 governors in the United States, Republican and Democrats alike, stood up and said, "We're still in." And states, those 37 states, have passed renewable portfolio laws. So at the state level, people are moving because they know it's better for their state. It's a safer, better delivery of power to their state, and it's the way it's going to move.

The second part of the answer: Masses of capital, trillions of dollars, are going to move into the energy market, which is the largest market the world has ever seen and going to grow now. Multiple double-digit trillions of dollars of market. And no politician can come along and tell those banks, or those asset managers or those investors or those venture capitalists or the companies, the corporations that are doing this, they know this is where the market's going to be in the future.

If the $2 trillion infrastructure and jobs plan that the president has put forth does not pass the Senate, does this goal to cut emissions in half by 2030 effectively die with the bill?

Well, it doesn't die, but it certainly takes a blow, a serious one. But the companies I've talked about are going to move in this direction no matter what. I mean, if you look at the biggest companies in America, these folks are all pushing to get this done because they know that the world is going to be better off and that their businesses are going to be better off if we do that. This is a real challenge for all of us, and I think people are waking up to it all around the world.

Let me ask you a question. Why do you think 40 heads of state, including President Xi of China, President Putin of Russia, Prime Minister Modi of India, huge populations come together and say, "We have to do this"? Do they know something that some of these opponents of it don't know or aren't willing to admit? I mean, the only leader in the entire world that saw fit to pull out of the Paris agreement was Donald Trump.

But it's so easy to make commitments and we haven't seen countries follow through on those commitments.

This is accurate. They're doing things; they're not doing enough. There are very few countries that are doing enough. Most countries are not. And of the 20 countries that equal 81% of all the emissions, they are the critical ones that have to do more. And we're among them. We are 15% of all the world's emissions. China is 30%. Does China need to do more? Absolutely. All of the 20 need to do more.

This content is from Southern California Public Radio. View the original story at SCPR.org.

A fracking site in Kern County, Calif. Fracking — short for hydraulic fracturing — is the process of extracting oil deep underground using a high-pressure water mixture to break up rock.; Credit: Citizens of the Planet/Education Images/Universal Images Group via Getty

California Gov. Gavin Newsom announced plans to ban hydraulic fracturing by 2024 as part of a longer-term aim to end all oil extraction in the state.

The governor has ordered the state's top oil regulator to implement regulation to stop issuing new fracking permits by 2024. He has also directed the state's air resources agency to look at ways to phase out oil extraction completely by 2045.

"The climate crisis is real, and we continue to see the signs every day," Newsom said in a Friday press release. "As we move to swiftly decarbonize our transportation sector and create a healthier future for our children, I've made it clear I don't see a role for fracking in that future and, similarly, believe that California needs to move beyond oil."

The plan aligns with the state's broader goal to reach net-zero carbon dioxide emissions by 2045.

Newsom's order follows a more aggressive plan to ban oil and gas production that died in the state Senate last week.

Following the bill's failure, Rock Zierman, CEO of the California Independent Petroleum Association, told The Desert Sun that it would have killed tens of thousands of jobs "in parts of the state that are struggling in this post-pandemic economy."

"We will continue to oppose bills that only increase our reliance on foreign oil which drives up gas prices, contributes to pollution in our crowded ports, and is produced without California's environmental protections or humanitarian values," he said.

Under Newson's plan, the state's Air Resources Board will assess the economic, environmental and health benefits and effects of ending oil extraction.

In September, Newsom said that fracking accounts for less than 2% of the state's oil production, but that the plan to end the practice is a "symbolic" step. However, some industry groups put that figure at closer to 20%.

The governor has previously said that he lacks the executive authority to ban fracking and has looked to legislators to approve limits.

Now, Newsom is leveraging his authority to take on the state's powerful oil and gas giants during a year in which he will likely face a recall election.

California would be the largest oil-producing state to ban fracking. Environmentalist groups — who argue that fracking drains water levels, harms public health and contributes to global warming — say the 2024 and 2045 deadlines are too late.

"While precedent setting, both timelines are not aggressive enough," California's Sierra Club said in a statement. "They fail to meet the urgency of the climate crisis we face and protect frontline communities facing the brunt of fossil fuel pollution that still need immediate health and safety protections."

This content is from Southern California Public Radio. View the original story at SCPR.org.

Cars make their way toward downtown Los Angeles on April 22. California could regain the right to set its own vehicle emissions standards after the Environmental Protection Agency announced it was moving to curb a Trump-era policy that sought to erode the state's previously-held power.; Credit: Mario Tama/Getty Images

The Environmental Protection Agency (EPA) said on Monday it is preparing to restore California's right to set its own vehicle emissions standards, in a widely anticipated reversal of Trump-era policies.

The decision, which will take several months to be finalized, reaffirms the Golden State's powerful position as an environmental regulator after the Trump administration had in 2019 sought to remove California's powers to set its own emissions standards.

It also sets the stage for negotiations over how strict federal vehicle standards will be under President Biden.

"I am a firm believer in California's long-standing statutory authority to lead," EPA administration Michael Regan said in a statement.

"The 2019 decision to revoke the state's waiver to enforce its greenhouse gas pollution standards for cars and trucks was legally dubious and an attack on the public's health and wellbeing," he added.

The EPA will be accepting public comment until July 6 as part of the process of reversing the Trump-era rule.

The populous, car-loving state has been waging a battle against smog for decades.

And in recognition of that history, the EPA has long granted a waiver giving the state the authority to set its own standards for vehicle emissions, as long as they're more stringent than the national regulations.

That's an unusual exemption — other states can't set their own policies, although they can choose to adopt California's standards as their own.

Between California and the states that follow suit, about a third of the U.S. new car market is covered by the Golden State's policies, giving California regulators a remarkable amount of sway over the auto industry.

However, when the Trump administration weakened federal clean car standards, it also sought to revoke the waiver allowing California to set a higher bar.

That triggered a legal battle and divided the auto industry, with some carmakers choosing to side with California and voluntarily accept somewhat stricter vehicle emissions standards while the rest backed the Trump administration.

After Biden won the White House, every major automaker eventually dropped their support for the now-doomed Trump position.

The EPA has now started the process of reversing Trump's decision. The Department of Transportation last week also proposed to "wipe clean the regulatory slate," indicating that the National Highway Traffic Safety Administration would no longer seek to block state emissions standards, as it had under Trump.

It's still not clear what federal regulations on vehicle emissions and fuel economy will be under the Biden administration. Some environmental groups and progressive lawmakers are pushing for the reinstatement of the Obama-era standards, with more ambitious targets to follow.

The auto industry, meanwhile, is calling for standards midway between the Obama-era and Trump-era policies.

The EPA says it will propose new fuel economy rules in July.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Florida Gov. Ron DeSantis speaks to the media about the cruise industry during a press conference at PortMiami in April. DeSantis faces criticism for failing to do all he could on Florida's biggest environmental threat: climate change.; Credit: Joe Raedle/Getty Images

Brick by brick, the stucco shell of a new flood-resilient public works building is taking shape blocks from the beach, the most visible sign yet of a small community's enormous task staving off the rising sea.

"This is actually the highest point in the city," Satellite Beach City Manager Courtney Barker said, adding that right next door to the new public works building will be a new fire station.

It's a close-knit community established by rocket scientists south of Kennedy Space Center, on a low-slung barrier island between the Atlantic Ocean and Indian River Lagoon.

By 2040, community leaders expect significant impacts associated with climate change. Already flooding is a problem, and beach-front homes perch precariously atop a sand dune left exposed after a series of storms and hurricanes washed away a sea wall.

The needs are great, and in Gov. Ron DeSantis, Barker sees a potential ally.

"At least he talks about climate change as actually being real, so that's good," she said. "And he's putting money toward it so that's encouraging."

But Barker also feels DeSantis is doing only part of the job.

"We desperately need to grow up as a state and realize that we need to get our emissions down," Barker said.

Since his election in November 2018, DeSantis is making good on some of his environmental promises, including what he likes to call "resilience," a new buzzword for climate adaptation. But as the governor prepares for a reelection bid in 2022, and is seen as a potential Republican frontrunner for the presidency in 2024, DeSantis faces criticism for failing to do all he could on Florida's biggest environmental threat: climate change.

Some of his critics acknowledge that the $1 billion Resilient Florida plan he announced in January could be a first step toward helping some communities pay for adaptation. But critics also point out that DeSantis has done almost nothing to put Florida on a path to scaling back the state's heavy reliance on fossil fuels.

"I would give him probably a C-minus," said former Republican Gov. Charlie Crist, who served from 2007 to 2011, and now represents St. Petersburg in the U.S. House of Representatives as a Democrat.

Crist still gets plaudits from environmentalists for his administration's climate initiatives, including a cap-and-trade system to curb carbon emissions and an executive order that was intended to put the state on a path to reducing its greenhouse gas emissions 80% by 2050. But those were basically abandoned by Gov. Rick Scott, the Republican now serving in the U.S. Senate.

Crist, who switched parties and this week announced he is running for governor in 2022, said DeSantis should be "encouraging renewables such as wind energy, solar energy, and particularly solar. I mean, my goodness, we're the Sunshine State."

DeSantis' press office declined to make the governor available for an interview and did not respond to written questions.

In comments at two press conferences earlier this year, the governor cited his support for spending hundreds of millions of dollars on water projects and Everglades restoration as evidence of his environmental credentials, while promising to double down on funding for coastal resilience.

Florida needs "to tackle the challenges posed by flooding, intensified storm events [and] sea level rise," he said. "When you look at how an insurance market would view property insurance, and to see that Florida is leading and trying to get ahead of some of these impacts, we think it'll be a very smart thing to do."

Lawmakers have had their own ideas on how to handle climate threats, and have passed two bills that, when taken together, are similar to DeSantis' Resilient Florida proposal.

"It's not exactly as he said he wanted it, but it's close," said Jonathan Webber, deputy director of Florida Conservation Voters. "These are policies that need to happen. It would have been better if they happened 20 years ago."

"I am not a global warming person"

In his 2018 campaign, DeSantis appealed directly to supporters of former President Donald Trump, such as in this ad where he tells one of his children to "build the wall" with toy blocks. The environment was a major issue in that election.

Residents were grappling with a toxic red tide and blue-green algae crisis that made beaches and waterways unsafe, and left marine-life belly-up.

In recent years Floridians have also experienced deadly, devastating consequences of back-to-back major hurricanes.

All the while, advocates were highlighting likely links between the state's environmental woes and global warming.

Florida's climate challenges are among the biggest in the country. Beyond those related to hurricanes intensified by climate change, they include sea level rise, extreme heat, drought and increasing health threats from mosquito-borne diseases.

By its own numbers, the DeSantis administration predicts that with sea level rise, $26 billion in residential property statewide will be at risk of chronic flooding by 2045.

But in 2018, DeSantis let voters know that he had clear limits when it came to climate change.

"I am not in the pews of the church of the global warming leftists," DeSantis told reporters at one 2018 campaign stop. "I am not a global warming person. I don't want that label on me."

Early plaudits from environmentalists

Once in office, DeSantis won early plaudits for directives aimed at cleaning up water and helping Florida adapt to climate change. He appointed the first state resilience officer and the first chief scientist, and ordered Florida's Department of Environmental Protection to make sure its decisions were based on the best available science.

In 2019, they approved of DeSantis' order to his environmental regulators to oppose fracking, but he since has failed to get his Republican colleagues in the legislature to pass a statewide fracking ban, something he advocated for during his campaign. The state's oil and gas industry does not currently use fracking as a drilling method, but environmentalists are worried it might start doing so, resulting in water pollution.

Environmental groups also praised DeSantis in 2020 when the governor announced the state was backing a plan to buy 20,000 acres of the Everglades to prevent oil development there.

And they did the same when DeSantis backed spending $166 million in settlement money Florida received from Volkswagen on electric vehicle charging stations and cleaner electric buses. The money, part of a larger $14.7 billion settlement, came after the German automaker was caught lying about its cars' diesel emissions.

"Everyone was optimistic," said Susan Glickman, the Florida director for the Southern Alliance for Clean Energy. "I kept hearing an opening on climate."

Two years later, though, Glickman and other advocates are assessing DeSantis' climate record much like this: He's done more than previous Governor Scott, but that's not saying much.

DeSantis quietly replaced his chief science officer in March with Mark Rains, a professor, and chair and director of the School of Geosciences at the University of South Florida. But he never has replaced his chief resilience officer after she left for the Trump administration after only a few months in the position.

"Missing in action" on renewables

In many ways, it's what DeSantis hasn't done that defines his climate record. He has chosen not to use his bully pulpit to advocate for a clean-energy future, like his Democratic Party counterparts in the Southeast states of North Carolina and Virginia, or like the mayors of Orlando and Tampa.

DeSantis has also been "missing in action" in debate over bills this year in the Florida legislature that would undermine local government efforts to transition to clean energy, said Webber, with the Florida Conservation Voters group.

One such bill, that has passed the House and Senate and awaits DeSantis' consideration, would ban local governments from restricting fuel sources. The oil and gas industry has supported such measures around the country. They aim to block the push by climate activists to ban natural gas hook-ups in new buildings, and electrify them instead to reduce carbon emissions.

Of course, electrification only reduces emissions if it's powered by renewable energy. But Florida has no requirement that utilities provide a certain amount of that. Solar power accounts for only about 2.5% of the electricity produced by utilities, while they rely on fossil fuels for about 84%.

When DeSantis had a chance to appoint someone to the state's powerful Florida Public Service Commission, a regulatory body with a big say in state energy policy, he chose the Florida chairman of the American Legislative Exchange Council, a group known for its support of fossil fuels.

"We are very frustrated by the messaging, and the lack of acknowledgement of the root of the problem of all these issues," said Yoca Arditi-Rocha, executive director of The CLEO Institute, a nonprofit that focuses on climate science education.

"We need to acknowledge the warming temperatures and the rising seas are a result of our warming climate," she said. "We cannot adapt our way out of it. We need to aggressively tackle mitigation."

"What places can we not save?"

In Satellite Beach, Courtney Barker, the city manager who welcomes the governor's help with adapting to climate change, also wants to see him tackle the emissions side of the equation.

Besides moving the public works building and fire station to higher ground, the community is fortifying its system of flood control. Barker said the community needs more funding opportunities from the state.

"We're looking for assistance in helping us engineer our way out of it," she said.

Marine and climate scientist Jeff Chanton, of Florida State University, thinks there's too much emphasis on sea walls, which can cause beach erosion and destroy tidal zones vital to marine life, including crabs and turtles.

"An ideal governor would try to lessen the impacts of growth in this state, especially along our coastlines," he said.

Before her departure, Julia Nesheiwat, DeSantis' chief resilience officer, characterized the state's infrastructure as "outdated" in a report, and called its resilience strategy "disjointed."

For Thomas Ruppert, an attorney and coastal planning specialist with Florida Sea Grant, DeSantis' emphasis on hardening infrastructure ignores that — for some communities — the investments will be futile in staving off the inevitable.

"Ultimately, what we really need is to start talking seriously [about] what places can we not save? And what is an exit strategy? Because we have no idea," Ruppert said.

Barker hopes it doesn't come to that in Satellite Beach, where she grew up.

"It's personal to all of us, because I think everyone can look at their own hometown, and you can't imagine being anywhere else."

This story is a collaboration between Inside Climate News and WMFE Orlando, a member of ICN's National Reporting Network-Southeast.

This content is from Southern California Public Radio. View the original story at SCPR.org.