Space Invaders

December 17, 2024

DENVER, Colo., Dec 17, 2024 (247marketnews.com)-Siyata Mobile (NASDAQ: SYTA), Tonix Pharmaceuticals (NASDAQ: TNXP), Portage Biotech (NASDAQ: PRTG), SEALSQ (NASDAQ: LAES), Quantum Computing (NASDAQ: QUBT), and Sidus Space (NASDAQ:SIDU).

There is no easier layup than when a company tells you a wealth creation event is on the horizon.

Siyata Mobile (NASDAQ: SYTA) reported closing its first major order in The Netherlands for a prominent national Dutch transportation company, a significant international expansion milestone.

Siyata will deliver the order, for 550 units of its SD7 handsets, in the fourth quarter of 2024. The order validates Siyata’s global leadership positioning in the emerging multibillion-dollar Push-to-Talk over Cellular industry.

Marc Seelenfreund, Siyata Mobile’s CEO, stated, “This order underscores the increasing recognition of our innovative PoC solutions outside of North America. While the U.S. remains a primary focus, our ability to secure a significant contract in The Netherlands illustrates the international appeal of our technology. It’s a strong testament to Siyata’s capability to address the evolving communication needs of enterprise customers worldwide. By replacing traditional two-way radios, our PoC devices offer superior coverage, enhanced audio clarity, and cost efficiency—benefits that resonate globally.”

Siyata previously announced that it will host an upcoming press event to showcase a new significant material development, which is tentatively scheduled for late December 2024, about which Seelenfreund emphasized, “Siyata is in the best position it’s been in since our company’s inception, as our capital expenditures have directly improved all performance metrics, and we look forward to delivering continued successful results. Please tune into our upcoming press conference, which will highlight a next level shareholder value creation event that you surely won’t want to miss.”

Tonix Pharmaceuticals (NASDAQ: TNXP) stated that the U.S. Food and Drug Administration (FDA) accepted its New Drug Application (NDA) filing for TNX-102 SL (cyclobenzaprine HCl sublingual tablets), a 5.6 mg, non-opioid, centrally-acting analgesic, for the management of fibromyalgia, which affects more than 10 million American adults, mostly women.

The FDA is expected to assign the NDA a Prescription Drug User Fee Act (PDUFA) target action date in a Day 74 Letter and confirm with Tonix if the FDA grants Priority Review.

Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals, commented, “The FDA’s acceptance of our NDA represents another step forward as we pursue our goal of delivering the first member of a new class of medicines for the management of fibromyalgia, a condition affecting over 10 million adults in the U.S.

“The fibromyalgia community, comprised of patients and their families and support groups, has been waiting for a new drug for over 15 years. Analysis of insurance claims in the U.S., commissioned by Tonix, have shown that 18 months after diagnosis, fibromyalgia patients were more likely to be prescribed addictive opioids than all three of the FDA-approved drugs combined.

“We look forward to working closely with the FDA throughout the NDA review period with the goal of bringing TNX-102 SL to the market to address the significant unmet needs of the fibromyalgia community as quickly as possible. Furthermore, this is an important milestone as we advance our commercial preparations in anticipation of a potential approval in 2025 with an accomplished commercial leadership team already in place, supporting our marketed products Zembrace® SymTouch® (sumatriptan injection) 3 mg and Tosymra (sumatriptan nasal spray) 10 mg for the treatment of acute migraine with or without aura in adults.”

Portage Biotech (NASDAQ: PRTG) reported entering into a Letter of Intent (“LOI”) with Immunova, a private Connecticut-based biotechnology company, in which Portage and Immunova agreed to negotiate a definitive option agreement for Immunova to completely acquire iOx Therapeutics, a wholly owned subsidiary of Portage that is focused on developing liposomal iNKT agonists, and its lead candidate, PORT-2, has demonstrated promising preliminary clinical activity.

Alex Pickett, Portage Biotech’s CEO, stated: “We are excited about this opportunity to partner with Immunova. This transaction underscores Portage’s commitment to unlocking the value of its assets and bringing returns to shareholders while ensuring that potentially innovative therapeutics are swiftly brought into clinical development.”

Brian Horsburgh, PhD, Immunova’s CEO, added: “We are delighted to continue our collaboration with Portage and potentially add the iOx assets to our own pipeline, creating a clinical-stage biotech company focused on lipid drugs and delivery systems that empower immune cells to better fight disease. This acquisition represents a leap in our mission to advance innovative therapies to patients who need them most.”

SEALSQ (NASDAQ: LAES) entered into a $25.0 million, before deducting commissions and offering expenses, securities purchase agreement, with several institutional investors, for 13,157,896 ordinary shares at a public offering price of $1.90.

The offering is SEALSQ’s second in less than week, as the Company entered into a $10.0 million, before deducting commissions and offering expenses, securities purchase agreement with several institutional investors for 7,692,308 ordinary shares, at a public offering price of $1.30, which was also above the market, at the time.

SEALSQ plans on utilizing the net offering proceeds to fund the deployment of its next-generation post-quantum semiconductor technology and ASIC capabilities in the United States, support working capital, and for general corporate purposes.

Today’s move follows yesterday’s announcement that SEALSQ integrated its Post-Quantum Cryptography (PQC) technology to secure electronic identities and documents via a strategic initiative, developed in collaboration with WISeID.COM developed by SEALSQ’s parent company, WISeKey (NASDAQ: WKEY).

Quantum Computing (NASDAQ: QUBT) reported that it was awarded a prime contract by the National Aeronautics and Space Administration’s (“NASA”) Goddard Space Flight Center, marking a pivotal step forward for QCi, by applying its entropy quantum optimization machine, Dirac-3, to support NASA’s advanced imaging and data processing demands.

Dr. William McGann, QCi’s CEO, commented, “QCi is proud to support NASA in this critical mission to process large volumes of interferometric imaging data more efficiently. The project’s goal is to demonstrate how QCi’s Dirac-3 can address the phase unwrapping problem and allow NASA to compare the results and benefits of QCi’s quantum optimization technology with state-of-the-art algorithms running on classical computers.”

Sidus Space (NASDAQ:SIDU) closed an approximately $14 million, less fees and offering expenses, private placement priced at $2.07 per unit, of a combination of 6,799,892 shares of Class A common stock (or Pre-funded Warrants in lieu thereof), and Common Warrants to purchase 3,399,946 shares of Class A common stock.

MoBot alerted Sidus yesterday at $1.74.

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