Leddar is Leading

December 9, 2024

DENVER, Colo., Dec 09, 2024 (247marketnews.com)- LeddarTech (NASDAQ: LDTC), Texas Instruments (NASDAQ: TXN), Siyata Mobile (NASDAQ: SYTA), Sonnet BioTherapeutics (NASDAQ: SONN), Innate Pharma (NASDAQ: IPHA), and MEDIROM (NASDAQ: MRM)

LeddarTech (NASDAQ: LDTC) is this morning’s top gainer, after it announced that it formed a strategic collaboration with Texas Instruments (NASDAQ: TXN) (“TI”), after working closely for nearly two years, and the two Companies entered into a software license agreement to enable a comprehensive, integrated platform solution for advanced driver assistance systems (ADAS) and autonomous driving (AD) markets.

TI agreed to make advanced royalty payments to catalyze joint commercialization, which will enable TI to market a bundled solution that features LeddarTech’s LeddarVision AI-based fusion and perception software stack pre-integrated and validated on TI’s TDA scalable portfolio of Arm-based processors.

Frantz Saintellemy, LeddarTech’s President and CEO, commented, “We believe today’s agreement with Texas Instruments is a major milestone toward LeddarTech’s goal of becoming one of the leading players in ADAS and AD software. This agreement with Texas Instruments and their commitment to making advanced royalty payments is a major market validation of LeddarVision and the potential to achieve significant near-term automotive ADAS market success.”

Siyata Mobile (NASDAQ: SYTA) reported increasing sales momentum of its Bluetooth Remote Speaker Mic (“RSM”), an ergonomic palm-held microphone that looks, feels and acts like a traditional wired palm microphone to deliver excellent Push-to-Talk (PTT) audio quality.

The increased RSM sales momentum follow’s Siyata’s third quarter 2024 financial results report, in which Siyata set a new Company quarterly revenue record of $5.9 million, a 218%, or over $4 million, year-over-year increase and a 210%, or $4.0 million, quarter-over-quarter increase.

Users who prefer PTT conversations through their own Smartphone, rather than a PTT handset, Siyata’s rugged Bluetooth RSM can be used with a variety of Android and iOS Smartphones or Tablets, including Samsung and Apple (NASDAQ: AAPL).

Marc Seelenfreund, CEO of Siyata, commented, “We strive to provide a full suite of devices for the PTT market and are the only North American vendor that is solely focused on this $7 billion market*. This Bluetooth RSM with its rugged IP-65 rating adds another layer to our PTT portfolio so that we now have PTT handsets, PTT for vehicles, PTT for users of their own Smartphones whether iOS or Android, as well as a full line of accessories to provide the best PTT experience possible.  Novatek is a leader in Push-To-Talk communications in North America serving a breadth of industries. We are encouraged by the number of our Bluetooth RSM’s they have already sold and the expanding market opportunities for this accessory, which we will continue to pursue in 2025.”

Michelle Montgomery, Novatek’s VP of Sales & Marketing, added, “Siyata’s Bluetooth RSM is being well-received by many of our PTT customers including a large grocery store chain warehouse, a large school bus company, and others. The compact RSM strikes the right balance between performance and price to provide our PTT customers with great audio performance.”

Seelenfreund previously stated, “We are also extremely excited with our sales outlook going forward as we are now seeing tangible, rapid adoption of our unique PTT product portfolio across our various sales channels.  We believe that we have a very exciting 5G product portfolio planned to launch in 2025 which will position us as the leading PTT handset provider on a global level.  We announced recently that T-Mobile is the first wireless carrier that will be launching part of the portfolio and will be releasing details of the innovative devices over the coming months.  We are optimistic that more wireless carriers will follow suit.

“Our strategy to place Siyata’s PTT devices into the hands of top carriers is driving the top-line growth our shareholders have been waiting for. This partnership with T-Mobile, coupled with the launch of the SD7 Ultra 5G models, underscores our commitment to delivering innovative solutions for mission-critical needs. Our devices offer unmatched sound quality and rugged reliability, making them essential tools for enterprise customers.”

Sonnet BioTherapeutics (NASDAQ: SONN) reported that the results of SON-1010 at the highest dose were formally evaluated by the Safety Review Committee in the Phase 1 SB101 clinical trial of SON-1010 (IL12-F H AB) in adult patients with advanced solid tumors. SB101 is Sonnet’s open-label, adaptive-design dose-escalation study to assess the safety, tolerability, pharmacokinetics (PK), and pharmacodynamics (PD) of SON-1010 administered to patients with advanced solid tumors.

Sonnet published data details, which is now available at the “What This Means” section.

Richard Kenney, M.D., Sonnet’s Chief Medical Officer, commented, “We are encouraged by this topline safety data generated to date in our Phase 1 study. Given the history of safety concerns with rhIL-12 in its first human trials over 25 years ago, it is exciting to see higher doses of SON-1010 demonstrating minimal toxicity, which is likely due to its unique biodistribution and albumin binding profile, with delivery to and retention in the tumor microenvironment.

“We may finally be able to realize the promising antitumor effect that has been associated with this cytokine in preclinical models for decades. The IFNγ response, which is considered to be important for anti-tumor control, has been robust but controlled with a much longer return to baseline. While the clinical benefit we have been seeing during dose escalation has been reassuring, the PR at the highest dose is particularly important, as this suggests that there may be a synergistic effect in combination with checkpoint inhibitors and/or chemotherapy.”

Pankaj Mohan, Ph.D., Sonnet’s Founder and CEO, added, “This topline safety data release on our lead program is a significant milestone for Sonnet’s clinical development. We have now successfully completed dose escalation in our first trial with SON-1010 and are pleased to see a partial response in one patient at the highest dose, in addition to clinical benefit in almost half of the evaluable patients.

“Safety of this extended PK version of IL-12 has been within expected levels and the comparison with dosing in healthy volunteers provided strong evidence of tumor targeting in humans. We have used this trial to establish the MTD and will continue to follow the patients currently being treated to assess longer-term safety and tumor responses. Sonnet is currently seeking partnership opportunities to help support later stage development of SON-1010.”

Innate Pharma (NASDAQ: IPHA) presented new data featuring the quality-of-life improvements observed in patients with cutaneous T-cell lymphoma (CTCL) treated with lacutamab, in the TELLOMAK Phase 2 clinical study, at the 66th American Society of Hematology (ASH) Annual Meeting in San Diego, California.

TELLOMAK’s findings indicate that lacutamab may help alleviate some of the most distressing CTCL symptoms; currently, patients with relapsed or refractory CTCL have limited treatment options and regularly report lower health-related quality of life, especially when in advanced stages.

Dr Pierluigi Porcu, Director, Division of Medical Oncology and Hematopoietic Stem Cell Transplantation Thomas Jefferson University, and principal investigator in the TELLOMAK study, stated, “These findings underscore the potential of lacutamab for patients with advanced CTCL, particularly Sézary syndrome and mycosis fungoides, who face severe symptoms and limited treatment options. The promising results, including sustained itch reduction and improved skin symptoms, offer hope for enhancing quality of life. We are excited about lacutamab’s potential to bring meaningful relief to patients enduring this challenging disease.”

Dr Sonia Quaratino, Innate Pharma’s Chief Medical Officer, added, “We are encouraged by the data showing that lacutamab may help alleviate some of the most distressing symptoms of cutaneous T cell lymphomas. We remain committed to bringing lacutamab to patients in need and we remain focused on exploring all pathways forward to ensure this potential treatment reaches those who could benefit from it. Our dedication to addressing the unmet needs of patients continues to drive our efforts.”

MEDIROM (NASDAQ: MRM) reported that its MEDIROM MOTHER Labs subsidiary received orders for over 25,000 MOTHER Bracelet units, including orders from Japanese companies such as NFES Technologies Inc.

Kouji Eguchi, MEDIROM’s CEO, stated, “Our long-term mission is for the Mother Bracelet to be revolutionary in the Healthcare Technology and Wellness industries. The 25,000 unit MOTHER Bracelet orders surpasses the amount we’ve received and fulfilled to date and shows the continued momentum of our market penetration. Furthermore, we believe such orders received from not only NFES Technologies but also two other major companies listed on the Tokyo Stock Exchange further validates the commercialization of our technology.”

On Friday, after the market close, MEDIROM announced that “M3, Inc. (TOKYO PRIME: 2413), or an affiliate within the M3 group, is participating in the Series A equity financing round of MEDIROM MOTHER Labs Inc., a subsidiary of MEDIROM. NFES Technologies Inc. is the lead investor of the Series A financing round at a pre-money valuation of JPY9 billion,” as of December 1, 2024.

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