Chiquita Brooks-LaSure, administrator of the Centers for Medicare & Medicaid Services, leads some of the Biden administration's efforts to expand Medicaid access.; Credit: Caroline Brehman/CQ-Roll Call, Inc via Getty Imag

The Biden administration is quietly engineering a series of expansions to Medicaid that may bolster protections for millions of low-income Americans and bring more people into the program.

Biden's efforts — which have been largely overshadowed by other economic and health initiatives — represent an abrupt reversal of the Trump administration's moves to scale back the safety-net program.

The changes could further boost Medicaid enrollment — which the pandemic has already pushed to a record 80.5 million. Some of the expansion is funded by the COVID-19 relief bill that passed in March, including coverage for new mothers.

Others who could also gain coverage under Biden are inmates and undocumented immigrants. At the same time, the administration is opening the door to new Medicaid-funded services such as food and housing that the government insurance plan hasn't traditionally offered.

"There is a paradigm change underway," said Jennifer Langer Jacobs, Medicaid director in New Jersey, one of a growing number of states trying to expand home-based Medicaid services to keep enrollees out of nursing homes and other institutions.

"We've had discussions at the federal level in the last 90 days that are completely different from where we've ever been before," Langer Jacobs said.

Taken together, the Medicaid moves represent some of the most substantive shifts in federal health policy undertaken by the new administration.

"They are taking very bold action," said Rutgers University political scientist Frank Thompson, an expert on Medicaid history, noting in particular the administration's swift reversal of Trump policies. "There really isn't a precedent."

The Biden administration seems unlikely to achieve what remains the holy grail for Medicaid advocates: getting 12 holdout states, including Texas and Florida, to expand Medicaid coverage to low-income working-age adults through the Affordable Care Act.

And while some of the recent expansions – including for new mothers -- were funded by close to $20 billion in new Medicaid funding in the COVID relief bill Biden signed in March, much of that new money will stop in a few years unless Congress appropriates additional money.

The White House strategy has risks. Medicaid, which swelled after enactment of the 2010 health law, has expanded further during the economic downturn caused by the pandemic, pushing enrollment to a record 80.5 million, including those served by the related Children's Health Insurance Program. That's up from 70 million before the COVID crisis began.

The programs now cost taxpayers more than $600 billion a year. And although the federal government will cover most of the cost of the Biden-backed expansions, surging Medicaid spending is a growing burden on state budgets.

The costs of expansion are a frequent target of conservative critics, including Trump officials like Seema Verma, the former administrator of the Centers for Medicare & Medicaid Services, who frequently argued for enrollment restrictions and derided Medicaid as low-quality coverage.

But even less partisan experts warn that Medicaid, which was created to provide medical care to low-income Americans, can't make up for all the inadequacies in government housing, food and education programs.

"Focusing on the social drivers of health ... is critically important in improving the health and well-being of Medicaid beneficiaries. But that doesn't mean that Medicaid can or should be responsible for paying for all of those services," said Matt Salo, head of the National Association of Medicaid Directors, noting that the program's financing "is simply not capable of sustaining those investments."

Restoring federal support

However, after four years of Trump administration efforts to scale back coverage, Biden and his appointees appear intent on not only restoring federal support for Medicaid, but also boosting the program's reach.

"I think what we learned during the repeal-and-replace debate is just how much people in this country care about the Medicaid program and how it's a lifeline to millions," Biden's new Medicare and Medicaid administrator, Chiquita Brooks-LaSure, told KHN, calling the program a "backbone to our country."

The Biden administration has already withdrawn permission the Trump administration had granted Arkansas and New Hampshire to place work requirements on some Medicaid enrollees.

In April, Biden blocked a multibillion-dollar Trump administration initiative to prop up Texas hospitals that care for uninsured patients, a policy that many critics said effectively discouraged Texas from expanding Medicaid coverage through the Affordable Care Act, often called Obamacare. Texas has the highest uninsured rate in the nation.

The moves have drawn criticism from Republicans, some of whom accuse the new administration of trampling states' rights to run their Medicaid programs as they choose.

"Biden is reasserting a larger federal role and not deferring to states," said Josh Archambault, a senior fellow at the conservative Foundation for Government Accountability.

But Biden's early initiatives have been widely hailed by patient advocates, public health experts and state officials in many blue states.

"It's a breath of fresh air," said Kim Bimestefer, head of Colorado's Department of Health Care Policy and Financing.

Chuck Ingoglia, head of the National Council for Mental Wellbeing, said: "To be in an environment where people are talking about expanding health care access has made an enormous difference."

Mounting evidence shows that expanded Medicaid coverage improves enrollees' health, as surveys and mortality data in recent years have identified greater health improvements in states that expanded Medicaid through the 2010 health law versus states that did not.

Broadening eligibility

In addition to removing Medicaid restrictions imposed by Trump administration officials, the Biden administration has backed a series of expansions to broaden eligibility and add services enrollees can receive.

Biden supported a provision in the COVID relief bill that gives states the option to extend Medicaid to new mothers for up to a year after they give birth. Many experts say such coverage could help reduce the U.S. maternal mortality rate, which is far higher than rates in other wealthy nations.

Several states, including Illinois and New Jersey, had sought permission from the Trump administration for such expanded coverage, but their requests languished.

The COVID relief bill — which passed without Republican support — also provides additional Medicaid money to states to set up mobile crisis services for people facing mental health or substance use emergencies, further broadening Medicaid's reach.

And states will get billions more to expand so-called home and community-based services such as help with cooking, bathing and other basic activities that can prevent Medicaid enrollees from having to be admitted to expensive nursing homes or other institutions.

Perhaps the most far-reaching Medicaid expansions being considered by the Biden administration would push the government health plan into covering services not traditionally considered health care, such as housing.

This reflects an emerging consensus among health policy experts that investments in some non-medical services can ultimately save Medicaid money by keeping patients out of the hospital.

In recent years, Medicaid officials in red and blue states — including Arizona, California, Illinois, Maryland and Washington — have begun exploring ways to provide rental assistance to select Medicaid enrollees to prevent medical complications linked to homelessness.

The Trump administration took steps to support similar efforts, clearing Medicare Advantage health plans to offer some enrollees non-medical benefits such as food, housing aid and assistance with utilities.

But state officials across the country said the new administration has signaled more support for both expanding current home-based services and adding new ones.

That has made a big difference, said Kate McEvoy, who directs Connecticut's Medicaid program. "There was a lot of discussion in the Trump administration," she said, "but not the capital to do it."

Other states are looking to the new administration to back efforts to expand Medicaid to inmates with mental health conditions and drug addiction so they can connect more easily to treatment once released.

Kentucky health secretary Eric Friedlander said he is hopeful federal officials will sign off on his state's initiative.

Still other states, such as California, say they are getting a more receptive audience in Washington for proposals to expand coverage to immigrants who are in the country without authorization, a step public health experts say can help improve community health and slow the spread of communicable diseases.

"Covering all Californians is critical to our mission," said Jacey Cooper, director of California's Medicaid program, known as Medi-Cal. "We really feel like the new administration is helping us ensure that everyone has access."

The Trump administration moved to restrict even authorized immigrants' access to the health care safety net, including the "public charge" rule that allowed immigration authorities to deny green cards to applicants if they used public programs such as Medicaid. In March, Biden abandoned that rule.

KHN correspondent Julie Rovner contributed to this report.

KHN (Kaiser Health News) is a national newsroom that produces in-depth journalism about health issues. Together with Policy Analysis and Polling, KHN is one of the three major operating programs at KFF (Kaiser Family Foundation). KFF is an endowed nonprofit organization providing information on health issues to the nation.

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

Advocates for expanding Medicaid in Kansas staged a protest outside the entrance to the statehouse parking garage in Topeka in May 2019. Today, twelve states have still not expanded Medicaid. The biggest are Texas, Florida, and Georgia, but there are a few outside the South, including Wyoming and Kansas.; Credit: John Hanna/AP

There are more than 2 million people across the United States who have no option when it comes to health insurance. They're in what's known as the "coverage gap" — they don't qualify for Medicaid in their state, and make too little money to be eligible for subsidized health plans on the Affordable Care Act insurance exchanges.

Briana Wright is one of those people. She's 27, lives near Jackson, Miss., works at McDonalds, and doesn't have health insurance. So to figure out her options when she recently learned she needed to have surgery to remove her gallbladder, she called Health Help Mississippi, a nonprofit that helps people enroll in health insurances.

Because she lives in Mississippi, "I wasn't going to be eligible for Medicaid — because I don't have children [and] I'm not pregnant," she tells NPR. When she had her income checked for Healthcare.gov, it was just shy of the federal poverty line — the minimum to qualify for subsidies. "It was $74 [short]. I was like, oh wow," she says.

Wright's inability to get a subsidized policy on Healthcare.gov is related to how the Affordable Care Act was originally designed. People needing insurance who were above the poverty line were supposed to be funneled via the federal and state insurance exchanges to private policies — with federal subsidies to help make those policies affordable. People who were under the poverty line were to be funneled to a newly-expanded version of Medicaid — the public health insurance program that is jointly funded by states and the federal government. But the Supreme Court made Medicaid expansion essentially optional in 2012, and many Republican-led states declined to expand. Today, there are 12 holdout states that have not expanded Medicaid, and Mississippi is one of them.

So, Wright is still uninsured. Her gallbladder is causing her pain, but she can't afford the surgery without shuffling household bills, and risking leaving something else unpaid. "I'm stressed out about it. I don't know what I'm going to do," she says. "I'm going to just have to pay it out of pocket or get on some payment plan until it all gets paid for."

Hoping to finally find a fix for Wright and the millions like her who are in Medicaid limbo, several teams of Democratic lawmakers have recently been hashing out several options — hoping to build on the momentum of the latest Supreme Court confirmation that the ACA is here to stay.

OPTION 1: Sweet-talk the 12 holdout states

The COVID-19 relief bill passed in March included financial enticements for these 12 states to expand Medicaid. Essentially, the federal government will cover 90% of the costs of the newly eligible population, and an additional 5% of the costs of those already enrolled.

It's a good financial deal. An analysis by the nonprofit Kaiser Family Foundation estimates that the net benefit for these states would be $9.6 billion. But, so far — publicly, at least — no states have indicated they intend to take the federal government up on its offer.

"If that is not getting states to move, then that suggests that the deep root of their hesitation is not about financial constraint," says Jamila Michener, a professor of government at Cornell University and author of the book Fragmented Democracy: Medicaid Federalism And Unequal Politics.

Instead, Michener says, the reluctance among some Republican-led legislatures and governors to expand Medicaid may be a combination of partisan resistance to President Obama's signature health law, and not believing "this kind of government intervention for these groups of people is appropriate."

What's Next: When asked about progress on this front in an April press briefing, Biden's press secretary Jen Psaki said "the President is certainly supportive of — and an advocate for — states expanding Medicaid," but did not answer a follow up about whether the White House was directly reaching out to governors regarding this option.

OPTION 2: Create a federal public option to fill the gap

Some have advocated for circumventing these holdout states and creating a new, standalone federal Medicaid program that people who fall into this coverage gap could join. It would be kind of like a tailored public option just for this group.

This idea was included in Biden's 2022 budget, which says, in part: "In States that have not expanded Medicaid, the President has proposed extending coverage to millions of people by providing premium-free, Medicaid-like coverage through a Federal public option, paired with financial incentives to ensure States maintain their existing expansions."

But it wouldn't be simple. "That can be quite complex — to implement a federal program that's targeted to just these 2.2 million people across a handful of states," says Robin Rudowitz, co-director of the Medicaid program at the Kaiser Family Foundation, who wrote a recent analysis of the policy options.

It also may be a heavy lift, politically, says Michener. "Anything that expanded the footprint of the federal government and its role in subsidizing health care would be especially challenging," she says.

What's next: This idea was raised as a possible solution in a letter last month from Georgia's Democratic senators to Senate leaders, and Sen. Raphael Warnock said this week he plans to introduce legislation soon.

OPTION 3: Get around stubborn states by letting cities expand Medicaid

Instead of centralizing the approach, this next idea goes even more local. The COVER Now Act, introduced by Rep. Lloyd Doggett, D-Texas, would empower local jurisdictions to expand Medicaid. So, if you live in Austin, Texas, maybe you could get Medicaid, even if someone in Lubbock still couldn't.

The political and logistical challenges would be tough, policy analysts say. Logistically, such a plan would require counties and cities to create new infrastructure to run a Medicaid program, Rudowitz notes, and the federal government would have to oversee how well these new local programs complied with all of Medicaid's rules.

"It does not seem feasible politically," Michener says. "The legislators who would have to vote to make this possible would be ceding quite a bit of power to localities." It also might amplify geographic equity concerns, she says. People's access to health insurance would not just "be arbitrarily based on what state you live in — which is the current state of affairs — It's also going to be arbitrary based on what county you live in, based on what city you live in."

What's next: Doggett introduced the bill earlier this month. There's no guarantee it would get a vote on the House floor and — even if it did — it wouldn't survive a likely filibuster in the evenly divided Senate.

OPTION 4: Change the ACA to open up the exchanges

A fourth idea, Rudowitz says, is to change the law to remove the minimum cutoff for the private health insurance exchanges, since "right now, individuals who are below poverty are not eligible for subsidies in the marketplace." With this option, states wouldn't be paying any of the costs, since the federal government pays premium subsidies, Rudowitz says, but "there are issues around beneficiary protections, benefits, out-of-pocket costs."

What's next: This idea hasn't yet been included in any current congressional bills.

Will any of these ideas come to fruition?

Even with a variety of ideas on the table, "there's no slam dunk option, it's a tough policy issue," Rudowitz says. All of these would be complicated to pull off.

It's possible Democrats will include one of these ideas in a reconciliation bill that could pass without the threat of a Republican filibuster. But that bill has yet to be written, and what will be included is anyone's guess.

Even so, Michener says she's glad the discussion of the Medicaid coverage gap is happening, because it's sensitizing the public, as well as people in power, to the problem and potentially changing the political dynamic down the line. "Even in policy areas where you don't have any kind of guaranteed victory, it is often worth fighting the fight," she says. "Politics is a long game."

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

Tents housing the homeless at an encampment in Echo Lake Park in Los Angeles, California on March 24, 2021.; Credit: FREDERIC J. BROWN/AFP via Getty Images

The Los Angeles City Council votes Thursday on a proposal to ban sleeping or camping in certain parts of the city, including near schools, parks, libraries, and other “sensitive” facilities like daycares. It would also ban tents and encampments from blocking sidewalks if wheelchair users cannot access them. The motion is a departure from the city’s previous approach to the homelessness crisis.

Council members voted 12 to 3 on Tuesday to pull the draft ordinance out of Homelessness and Poverty Committee, where it had been stuck since November, and directed City Attorney Mike Feuer’s office to draft the new rules. Today on AirTalk, we’re speaking with Los Angeles Times reporter Ben Oreskes about the proposed rules, what Thursday’s vote means, and what we know about possible legal ramifications of the proposed changes. 

Guest: 

Ben Oreskes, staff writer at the Los Angeles Times; he tweets @boreskes

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

The US Supreme Court is seen in Washington, DC on July 1, 2021.; Credit: MANDEL NGAN/AFP via Getty Images

The U.S. Supreme Court ends its spring term today with two final decisions expected to come down, one involving a pivotal voting rights case out of Arizona and the other involving so-called “dark money” and campaign finance. 

Today on AirTalk, we’ll get a summary of the arguments that each side in the two cases will be making, and we’ll look back on the Spring 2021 term overall, as the nine justices will break until the fall.

Guests:

Vikram Amar, dean and professor of law at the University of Illinois College of Law

David Becker, executive director and founder of the Center for Election Innovation and Research, a nonpartisan, non-profit organization that works with election officials around the country to ensure convenient and secure voting for all voters; he is the former director of the elections program at The Pew Charitable Trusts and a former senior trial attorney in the Voting Section of the Department of Justice’s Civil Rights Division; he tweets @beckerdavidj

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

Sherman Institute, built in the Mission Revival architectural style, enrolled its first students on Sept. 9, 1902.; Credit: SHERMAN INDIAN MUSEUM

Earlier this month, Secretary of the Interior Deb Haaland announced an effort to search federal boarding schools for burial sites of Native American kids. 

The effort is similar to the one in Canada, which found the remains of up to 751 people, likely mostly children, at an unmarked grave in a defunct school in the province of Saskatchewan.  

We dive into the history of American Indian Boarding Schools, as well as their evolution and what the schools that still exist, including Sherman Institute High School in California, look like today.

Guests:

Brenda Child, professor of American Studies and American Indian Studies at the University of Minnesota; she is the author of many books, including “Boarding School Seasons: American Indian Families, 1900-1940” (University of Nebraska Press, 2000)

Amanda Wixon, curator at the Sherman Indian Museum, which is on the campus of Sherman Indian High School; assistant curator at Autry museum of the American West; PhD candidate in history at UC Riverside where her research is in Native American history, especially federal boarding schools and the carceral aspects of the Sherman Institute

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

Facemasks remain worn as firefighter paramedic Jorge Miranda, holding syringe, speaks with Eduardo Vasquez, who has lived homeless on the streets of Los Angeles since 1992, before administering the one-shot Johnson and Johnson' Janssen Covid-19 vaccine as part of outreach to the homeless by members of the Los Angeles Fire Department's Covid Outreach unit on June 14, 2021 in Los Angeles.; Credit: FREDERIC J. BROWN/AFP via Getty Images

In our continuing series looking at the latest medical research and news on COVID-19, Larry Mantle speaks with UCSF’s Dr. Peter Chin-Hong. 

Topics today include:

• Two weeks after reopening, LA County’s new COVID-19 cases have doubled

• CDC: Infected vaccinated people carry less COVID-19 virus

• Delta variant is now detected in all 50 states

• J&J: “At present, there is no evidence to suggest need for a booster dose to be administered”

• Novavax claims vaccine’s overall efficacy is 89.7%

• Another respiratory virus is spreading in the U.S.

• Curevac’s final trial show shot is far less effective than other vaccines

• Can we now live with the coronavirus?

• Israel scrambles to curb rising COVID-19 infection rates

• Is it time to rethink “one-size-fits-all” approach for masking?

Guest:

Peter Chin-Hong, M.D., infectious disease specialist and professor of medicine at the UCSF Medical Center; he tweets @PCH_SF

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

California Gov. Gavin Newsom looks on during a news conference after he toured the newly reopened Ruby Bridges Elementary School on March 16, 2021 in Alameda, California. ; Credit: Justin Sullivan/Getty Images

California on Thursday scheduled a Sept. 14 recall election that could drive Democratic Gov. Gavin Newsom from office, the result of a political uprising largely driven by angst over state coronavirus orders that shuttered schools and businesses and upended life for millions of Californians.

The election in the nation’s most populous state will be a marquee contest with national implications, watched closely as a barometer of the public mood heading toward the 2022 elections, when a closely divided Congress again will be in play.

We’ll get the latest. 

With files from the Associated Press 

Guests: 

Katie Orr, government and politics reporter for KQED; she tweets @1KatieOrr

Lara Korte, California politics reporter at the Sacramento Bee; she tweets @lara_korte

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

Athletes compete during the cycling portion of the IRONMAN 70.3 Steelhead on June 27, 2021 in Benton Harbor, Michigan. ; Credit: Patrick McDermott/Getty Images for IRONMAN

Whether you’re new to running or you’ve finished your tenth triathlon, we want to hear from you about what motivates you and how that translates into pushing yourself physically. 

Guests: 

Mark Remy, longtime runner and writer in Portland, Oregon; creator of humor website dumbrunner.com; he is the author of many books, including The Runner's Rule Book: Everything a Runner Needs to Know--And Then Some (Runner's World) (Rodale Books, 2009)

Sharon McNary, infrastructure correspondent at KPCC; she finished her 11th Ironman Race last week at Coeur d’Alene; she tweets @KPCCsharon

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

A passenger wearing a protective face covering to combat the spread of the coronavirus, checks her phone while travelling on a bus along Oxford Street in central London on July 5, 2021.; Credit: DANIEL LEAL-OLIVAS/AFP via Getty Images

In our continuing series looking at the latest medical research and news on COVID-19, Larry Mantle speaks with Professor Kristen Choi of UCLA. 

Topics today include:

• Biden to announce new efforts on vaccination campaign as Delta variant spreads

• Hospitalization rates getting worse for black residents of L.A. County 

• Which parts of the U.S. could be breeding grounds for variants?

• New Israeli data about effectiveness of Pfizer against Delta variant

• England to lift mask restrictions

• Cases on rise in immigration detention centers in the U.S. 

• Bay area zoo is vaccinating big cats and some other animals 

Guest:

Kristen R. Choi, professor of nursing and public health at UCLA; registered nurse practicing at Gateways Hospital, based in Echo Park

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

In this photo taken on February 10, 2020 a 'love kit' is seen on the bed in a room at the Dragonfly hotel in Mumbai.; Credit: PUNIT PARANJPE/AFP via Getty Images

A new survey shows that in the era of widespread vaccine availability, American couples are more satisfied in their relationships -- and some are even getting more experimental than they have been.

Led by Indiana University Kinsey Institute researcher Justin Lehmiller in collaboration with the website Lovehoney, which describes itself as “global sexual happiness experts,” the report looked at responses from 2,000 U.S. adults age 18-45, including an oversample of 200 who identified as LGBTQ, and among the major findings of the survey were that more than half (51 percent) of respondents said their sexual interests had changed during the pandemic, and many of those said they’d started trying things they hadn’t before. It also found that 44 percent of people surveyed said they were communicating better with their partner, and among singles surveyed 52 percent say they’re less interested in casual sex and more than a third of them said they weren’t interested in having sex on the first date.

Today on AirTalk, we’ll talk with Professor Lehmiller about the survey, its findings and how the pandemic impacted Americans’ views on relationships and sex.

Guest: 

Justin Lehmiller, social psychologist and research fellow at Indiana University’s Kinsey Institute who conducted the “Summer of Love” survey; author of “Tell Me What You Want: The Science of Sexual Desire and How It Can Help You Improve Your Sex Life” (Hachette Go, July 2020); host of the “Sex and Psychology” podcast; he tweets @JustinLehmiller

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

Don't fear the 'shrooms.; Credit: /iStockphoto.com

California on Tuesday moved another step closer to decriminalizing psychedelics — amid a debate over whether their prohibition is an outdated remnant of the War on Drugs — after the author removed a substance (ketamine) from the bill that opponents said can be used as a date-rape drug.

The bill would allow those 21 and older to possess for personal use and “social sharing” psilocybin, the hallucinogenic component of so-called magic mushrooms. It also covers psilocybin, dimethyltryptamine (DMT), ibogaine, mescaline excluding peyote, lysergic acid diethylamide (LSD) and 3,4-methylenedioxymethamphetamine (MDMA, often called ecstasy).

The bill bars sharing with those under age 21 or possessing the substances on school grounds. It would remove the state’s ban on cultivating or transferring mushroom spores or other material containing psilocybin or psilocybin.

Even if California makes the bill law, the drugs would still be illegal under federal law.

With files from the Associated Press.

Guests:

Scott Wiener, author of SB 519; California State Senator representing Senate District 11, which includes all of the city and county of San Francisco, Broadmoor, Colma, Daly City, and part of South San Francisco; he tweets @Scott_Wiener

John Lovell, legislative director of the California Narcotics Officers Association

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

A fireworks stand, one of about 25 booths that are open for business, advertises on the first day of fireworks sales for Fourth of July celebrations June 28, 2005 in Fillmore, California.; Credit: David McNew/Getty Images

Every year in the days leading up to Independence Day, we’re flooded with public service announcements warning of the dangers and risks associated with fireworks. In LA County, where most fireworks are illegal, it can be even more dangerous as the area’s risk of fire grows. 

Today on AirTalk, we discuss the challenges in enforcing and responding to the use of illegal fireworks and the growing risks. We also want to hear from listeners. What was your Fourth of July experience like this year with fireworks? Do you think more needs to be done to crack down? Join the conversation by calling 866-893-5722.

We reached out to the Los Angeles Police Department, but the department was not able to accommodate our interview request and says updated data is unavailable at this time.

Guest:

Mike Feuer, Los Angeles city attorney; he tweets @Mike_Feuer

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

Over the past century, technological advancements have vastly improved volcano monitoring. One key innovation was the introduction of modern borehole tiltmeters, devices that measure very small changes in the inclination of the volcano’s surface.  

In this third edition of "Eruptions of Hawaiian Volcanoes—Past, Present, and Future," we include information about Kīlauea’s 2018 eruption in the lower East Rift Zone—the largest and most destructive in at least 200 years—and associated summit-collapse events, the eruptions at Kīlauea’s summit since 2018, and the 2022 eruption of Mauna Loa, which occurred after 38 years of quiescence.

NASA released a workshop report on the UNBOUND-FEW workshop series, which was facilitated in part by Tribal Resilience Learning Network staff from the Alaska CASC. The workshop report reveals key recommendations for making data tools more useful for climate adaptation planning.

Geologic mapping has been one of the most fundamental mandates of the U.S. Geological Survey (USGS) since its establishment in 1879. Congress created the USGS to "classify the public lands and examine the geological structure, mineral resources, and products within and outside the national domain."

Are you attending the American Geophysical Union (AGU) Fall Meeting this year in Washington, D.C.? Don't miss these presentations from staff and partners from across the CASC network!

Mauna Loa summit webcams have been down for several months due to wind damage at the radio telemetry site. On November 7, 2024, HVO staff visited the site and performed a partial fix that brought the webcams back online.

Former Alaska Sen. Mike Gravel, who read the Pentagon Papers into the Congressional Record and confronted Barack Obama about nuclear weapons during a later presidential run, has died. He was 91.; Credit: Charles Dharapak/AP

SEASIDE, Calif. — Mike Gravel, a former U.S. senator from Alaska who read the Pentagon Papers into the Congressional Record and confronted Barack Obama about nuclear weapons during a later presidential run, has died. He was 91.

Gravel, who represented Alaska as a Democrat in the Senate from 1969 to 1981, died Saturday, according to his daughter, Lynne Mosier. Gravel had been living in Seaside, California, and was in failing health, said Theodore W. Johnson, a former aide.

Gravel's two terms came during tumultuous years for Alaska when construction of the trans-Alaska oil pipeline was authorized and when Congress was deciding how to settle Alaska Native land claims and whether to classify enormous amounts of federal land as parks, preserves and monuments.

He had the unenviable position of being an Alaska Democrat when some residents were burning President Jimmy Carter in effigy for his measures to place large sections of public lands in the state under protection from development.

Gravel feuded with Alaska's other senator, Republican Ted Stevens, on the land matter, preferring to fight Carter's actions and rejecting Stevens' advocacy for a compromise.

In the end, Congress passed the Alaska National Interest Lands Conservation Act of 1980, a compromise that set aside millions of acres for national parks, wildlife refuges and other protected areas. It was one of the last bills Carter signed before leaving office.

Gravel's Senate tenure also was notable for his anti-war activity. In 1971, he led a one-man filibuster to protest the Vietnam-era draft and he read into the Congressional Record 4,100 pages of the 7,000-page leaked document known as the Pentagon Papers, the Defense Department's history of the country's early involvement in Vietnam.

Gravel reentered national politics decades after his time in the Senate to twice run for president. Gravel, then 75, and his wife, Whitney, took public transportation in 2006 to announce he was running for president as a Democrat in the 2008 election ultimately won by Obama.

He launched his quest for the 2008 Democratic presidential nomination as a critic of the Iraq war.

"I believe America is doing harm every day our troops remain in Iraq — harm to ourselves and to the prospects for peace in the world," Gravel said in 2006. He hitched his campaign to an effort that would give all policy decisions to the people through a direct vote, including health care reform and declarations of war.

Gravel garnered attention for his fiery comments at Democratic forums.

In one 2007 debate, the issue of the possibility of using nuclear weapons against Iran came up, and Gravel confronted then-Sen. Obama. "Tell me, Barack, who do you want to nuke?" Gravel said. Obama replied: "I'm not planning to nuke anybody right now, Mike."

Gravel then ran as a Libertarian candidate after he was excluded from later Democratic debates.

In an email to supporters, he said the Democratic Party "no longer represents my vision for our great country." "It is a party that continues to sustain war, the military-industrial complex and imperialism — all of which I find anathema to my views," he said.

He failed to get the Libertarian nomination.

Gravel briefly ran for the Democratic nomination for president in 2020. He again criticized American wars and vowed to slash military spending. His last campaign was notable in that both his campaign manager and chief of staff were just 18 at the time of his short-lived candidacy.

"There was never any ... plan that he would do anything more than participate in the debates. He didn't plan to campaign, but he wanted to get his ideas before a larger audience," Johnson said.

Gravel failed to qualify for the debates. He endorsed Vermont Sen. Bernie Sanders in the contest eventually won by now-President Joe Biden.

Gravel was born Maurice Robert Gravel in Springfield, Massachusetts, on May 13, 1930.

In Alaska, he served as a state representative, including a stint as House speaker, in the mid-1960s.

He won his first Senate term after defeating incumbent Sen. Ernest Gruening, a former territorial governor, in the 1968 Democratic primary.

Gravel served two terms until he was defeated in the 1980 Democratic primary by Gruening's grandson, Clark Gruening, who lost the election to Republican Frank Murkowski.

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

"This is a petty, partisan power grab that is absolutely retaliation towards my office," Arizona Democratic Secretary of State Katie Hobbs says of the new law.; Credit: Ross D. Franklin/AP

Arizona Republicans have stripped the secretary of state's office — currently held by a Democrat — of the right to defend the state's election laws in court, or choose not to, a change enacted as part of Arizona's newly signed budget.

The spending blueprint that Gov. Doug Ducey signed into law Wednesday declares that the attorney general — currently a position occupied by Republican Mark Brnovich — has sole authority over election-related litigation.

If the secretary of state and attorney general were to disagree over a legal strategy when Arizona election laws are challenged, the new law states that "the authority of the attorney general to defend the law is paramount."

Republicans also adopted language stating it's their intent for the law to apply through Jan. 2, 2023, coinciding with the end of Democrat Katie Hobbs' term as secretary of state.

Hobbs, the top election official in Arizona who's now running for governor, says her lawyers are looking at whether this change violates the Arizona Constitution.

"This is a petty, partisan power grab that is absolutely retaliation towards my office," Hobbs said. "It's clear by the fact that it ends when my term ends. ... It is at best legally questionable, but at worst, likely unconstitutional."

Republicans have generally cast the law as a cost-saving measure, citing Hobbs and Brnovich's frequent disagreements over how to defend state election laws that have been challenged in court. In 2020, Hobbs filed complaints with the state bar against Brnovich and other lawyers in his office.

Other election provisions in the budget

The budget includes a number of other election provisions, and it comes weeks after Republicans enacted new restrictions on early voting in the state, and as a controversial review of 2020 election results in Maricopa County continues.

Here are some of the other election-related measures in the budget:

• New laws could soon require watermarks, QR codes and other security measures to be printed on ballots.
• There's a new mandate to inspect state and county voter registration databases and create a report on voters who cast federal-only ballots — an option available to Arizonans who don't show proof of citizenship to register to vote in the state, but are still allowed to register under federal law.
• And a new task force would investigate alleged social media bias as an unreported in-kind political contribution.

The ballot security measures, though not mandated by law in the budget, have the potential to be the most cumbersome and costly requirement for county election officials to implement.

The budget amendment provides a list of 10 "ballot fraud countermeasures" for counties to choose from — features like holographic foil, background designs similar to those found on banknotes and ultraviolet or infrared ink. If mandated, counties would have to implement any combination of at least three features from the list on their ballots. The budget provides $12 million to pay for those features, to be split among Arizona's 15 counties.

"By everyone's admission, there is only one company that can do any of this," said Jennifer Marson, executive director of the Arizona Association of Counties. "And so now, we can't have a competitive bid process or a traditional procurement process at the county or state level to use these countermeasures because we're locked into one company."

That company is Authentix, a Texas-based firm that provided Republican Rep. Mark Finchem with a sample ballot that included watermarks, QR codes and other security measures. Finchem had the sample ballot on display at the Capitol in March. According to the Yellow Sheet Report, it could be five times more expensive to print ballots with those security measures as it is to print paper ballots currently in use.

Marson said Finchem has acknowledged the security levels required of companies in the budget amendment could only be met by Authentix, and has vowed to mandate the ballot security measures in the "very near future."

Finchem defended the company in a brief email. He wrote that Authentix "offers these countermeasures to governments around the world for document and tax stamp security."

As the budget was being considered, Democrats like Sen. Tony Navarrete said the amendment is part of a broad effort to solidify conspiracy theories of election fraud.

"It's important for us to make sure we vote down conspiracy-laced amendments that are going to hurt the integrity of our election system in the state of Arizona and encourage other states to have these bad copycat laws spread like wildfire," he said.

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

President Biden listens as Florida Governor Ron DeSantis speaks about the collapse of the 12-story Champlain Towers South condo building in Surfside, Florida.; Credit: Saul Loeb/AFP via Getty Images

President Biden landed in Florida on Thursday to visit privately with families whose loved ones were in the 12-story Champlain Towers South condo when it collapsed.

Biden also met with first responders to thank them for their rescue work. Search and rescue efforts paused on Thursday because of structural concerns. So far, 145 people are still unaccounted for while 18 people have been confirmed dead.

During a briefing with local and state officials, Biden said the federal government would pick up 100% of the costs associated with the response to the building collapse. I think I have the power and will know shortly to be able to pick up 100% of the costs of the county and the state. I'm quite sure I can do that," Biden said.

Biden sat beside Florida's Republican Governor Ron DeSantis, who thanked the president for his support, saying "we've had no bureaucracy" from the Federal Emergency Management Agency.

"You recognize in each individual unit, there's an amazing story, and lives have been shattered irrevocably, as a result of this," DeSantis said. "We have families with kids missing. And we even have young newlyweds who hadn't even been married a year who were in the tower when it collapsed," he said.

"What we just need now is we need a little bit of luck. We need a little bit of prayers. And you know, we would like to be able to, you know, to see some miracles happen," DeSantis said.

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

A voter marks his ballot at a polling place on Nov. 3, 2020, in Richland, Iowa. A new poll finds ensuring access to voting is more important than tamping down voter fraud for most Americans.; Credit: Mario Tama/Getty Images

A majority of Americans believes ensuring access to voting is more important than rooting out fraud, the latest NPR/PBS NewsHour/Marist survey finds.

At the same time, there was broad agreement that people should have to show identification when they go to the polls.

Two-thirds of Americans also believe democracy is "under threat," but likely for very different reasons.

"For Democrats, Jan. 6 undoubtedly looms large," said Lee Miringoff, director of the Marist Institute for Public Opinion, referring to the violence and insurrection at the Capitol, "while, for Republicans, it's more likely about Trump and his claims of a rigged election."

Voting access vs. fraud

By a 56%-41% margin, survey respondents said making sure that everyone who wants to vote can do so is a bigger concern than making sure that no one who is ineligible votes.

But there were wide differences by political party and by race.

Among Democrats, almost 9 in 10 said access was more important, but almost three-quarters of Republicans said it was making sure no one votes who isn't eligible.

By race, a slim majority of whites said ensuring everyone who wants to vote can was most important, but almost two-thirds of nonwhites said so.

Photo ID is popular

Nearly 8 in 10 Americans said they believe voters should be required to show government-issued photo identification whenever they vote.

Majorities of Democrats, Republicans, independents, whites and nonwhites all said so. Democrats were far lower, though, with 57% believing photo ID should be required.

Biden holding steady

President Biden gets a 50% job approval rating, largely unchanged from last month. There is a sharp partisan divide with 9 in 10 Democrats approving, and more than 8 in 10 Republicans disapproving.

Biden continues to get his highest ratings when it comes to his handling of the coronavirus pandemic, and his economic approval is holding steady. But Americans have less confidence in his handling of foreign policy, especially immigration. His approval on immigration ticked up slightly from March when it was last measured in the poll.

By a 50%-43% margin, respondents said Biden had strengthened America's role on the world stage.

Americans are split about whether the country is headed in the right direction or not — 49% said it wasn't, 47% said it was. It's an improvement, however, from right after the Jan. 6 insurrection when three-quarters said the country was on the wrong track.

The tone has gotten worse in Washington since Biden was elected, 41% said, but that's better than the two-thirds who said so consistently during the Trump years.

Methodology: The poll of 1,115 U.S. adults was conducted using live telephone interviewers from June 22-29. Survey questions were available in English or Spanish. The full sample has a margin of error of plus or minus 3.7 percentage points with larger margins of error for smaller group subsets.

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

Rita Moreno, as seen in the documentary “Rita Moreno: Just a Girl Who Decided to Go for It.”

Guest host John Horn and KPCC film critics Claudia Puig, Peter Rainer, Lael Loewenstein and Charles Solomon review this weekend’s new movie releases on streaming and on demand platforms.

• "Rita Moreno: Just a Girl Who Decided to Go for It," at Laemmle’s theaters (Newhall, Town Center 5, NoHo 7, Claremont 5, Playhouse 7) and other select theaters 

• "Les Nôtres," at Laemmle’s Royal and Laemmle’s Virtual Cinema 

• "Rise Again: Tulsa And The Red Summer," premieres on National Geographic June 18 at 6pm PT & on Hulu June 19

• "Luca," at the El Capitan Theater (Hollywood) & Disney+

• "The Sparks Brothers," in wide release 

• "Sisters on Track," on Netflix June 24

• "Fatherhood," on Netflix

• "Truman & Tennessee: An Intimate Conversation," at Landmark’s Nuart Theater & Virtual cinemas 

• "Sweet Thing," Laemmle’s Royal and Laemmle’s Virtual Cinema

• "Summer of 85," at Laemmle’s theaters (Playhouse 7, Royal and Town Center 5) 

• "12 Mighty Orphans" in wide release

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.

With guest host John Horn 

Guests:

Claudia Puig, film critic for KPCC and president of the Los Angeles Film Critics Association (LAFCA); she tweets @ClaudiaPuig

Lael Loewenstein, film critic for KPCC and film columnist for the Santa Monica Daily Press; she tweets @LAELLO

Peter Rainer, film critic for KPCC and the Christian Science Monitor

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.

Questlove attends Questlove's "Summer Of Soul" screening & live concert at Marcus Garvey Park in Harlem on June 19, 2021 in New York City.; Credit: Roy Rochlin/Getty Images

The 1960s was a decade that held a lot of historical markers for American history. For the Black community, social inequality and systemic racism lead to political action in many different forms.

The end of the decade saw the death of many integral leaders to the civil rights movement, which led to more civil unrest and mourning. One way this community was able to get through this moment in history was through the power of music. The 1969 Harlem Cultural Festival was a special moment in musical and Black history that was all a product of the other 8 years prior to it.

It’s a historical marker for Harlem that Ahmir “Questlove” Thompson’s film “Summer of Soul” depicts in-depth, bringing this story to life using archival footage and interviews. The Harlem Cultural Festival took place for 6 weeks, having some of the greatest Black musical acts the world has ever seen. Through this communal experience, attendees found themselves at ease with artists like Stevie Wonder, Nina Simone and the 5th Dimension bringing this community of Harlem residents together. 

Today on FilmWeek, Larry Mantle speaks with Ahmir “Questlove” Thompson about his feature directorial debut, “Summer of Soul (...Or, When the Revolution Could Not Be Televised),” and its chronicling of a major point in African American history.

Guest:

Ahmir “Questlove” Thompson, director of the documentary “Summer of Soul (...Or, When the Revolution Could Not Be Televised),” drummer for The Roots and The Tonight Show with Jimmy Fallon; he tweets @questlove

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

Stillwater Critical Minerals Corp. (PGE:TSX.V; PGEZF:OTCQB; J0G:FSE) has announced new assay results from its ongoing resource expansion drilling at the Stillwater West PGE-Ni-Cu-Co + Au project. Read more for detailed insights into the high-grade rhodium intercepts and resource expansion potential.

This Buy-rated Canadian explorer-developer is working to achieve first mover status in this emerging clean energy space. Find out what all it has done and is doing.

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) announced it has entered into an agreement with Hatchet Uranium Corp. to acquire interest in several of its projects. One analyst says the "spotlight" is on uranium juniors as the energy transition drives a heightened demand for power sources.

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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: 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: Streetwise Reports 10/31/2024

Healthcare artificial intelligence (AI) company Treatment.com AI Inc. (TRUE:CSE; TREIF:OTCMKTS; 939:FRA) announced that it has closed a non-brokered private placement for aggregate gross proceeds of CA$1.95 million.

A total of 2,138,766 special warrants of the company were offered at CA$0.75 per special warrant with proceeds of CA$1.6 million. The company also said 466,666 units of the company were offered at CA$0.75 per unit for proceeds of CA$349,999.50.

The company said it intends to use the proceeds for working capital purposes.

"We are very encouraged by the support from our investors with their overwhelming response to the financing and the subsequent over-subscription," Chief Executive Officer Dr. Essam Hamza said. "This money will help expedite our aggressive growth plans over the next year."

Technical Analyst Clive Maund noted on October 9* that the outlook for the company is "outstandingly bright" because it has "positioned itself to revolutionize the healthcare industry using AI and advanced machine learning technologies."

The company "is set to transform the current archaic system so that no longer do patients have to sit for hours in waiting rooms to see a doctor or doctors, and doctors and other healthcare professionals have to suffer a crushing burden of often unnecessary patient visits and tedious repetitive bureaucracy," he wrote. "Treatment AI's platform will take care of most of it."

Healthcare Professionals Worldwide Contribute to AI Engine

Treatment.com AI said it is a company utilizing AI and best clinical practices with a goal to positively improve the healthcare sector and impact current inefficiencies and challenges.

With the input of hundreds of healthcare professionals globally, Treatment.com AI said it has built a comprehensive, personalized healthcare AI engine called the Global Library of Medicine (GLM). With more than 10,000 expert medical reviews, the GLM is designed to provide tested clinical information and support to all healthcare professionals, as well as providing recommended tests (physical and lab), X-rays, and billing codes.

According to the company, the GLM will help healthcare professionals (doctors, nurses, and pharmacists) reduce administrative burdens, creating more time for face-to-face patient appointments.

"AI is set to expedite and streamline the healthcare industry, making it vastly more efficient for the benefit of both healthcare professionals and patients," Maund noted.

The Catalyst: A 'Profound Transformation' in the Industry

AI has an important role to play in the healthcare offerings of the future, a 2019 report from the National Center of Biomechanical Medicine listed in the National Library of Medicine said. "In the form of machine learning, it is the primary capability behind the development of precision medicine, widely agreed to be a sorely needed advance in care."

Healthcare organizations are increasingly turning to the technology to address both clinical and administrative challenges. The combination of generative AI, as noted by Appinventiv in September, and operational tools like those developed by Treatment.com AI are driving this transformation.

Generative AI is "catalyzing a profound transformation within the healthcare industry" by generating synthetic data, predicting patient outcomes, and optimizing treatment plans, all of which revolutionize clinical decision-making processes, Appinventiv reported. This aligns with Treatment.com AI's announced collaboration with SPRYT on September 17 whereby integrating SPRYT’s AI receptionist "Asa" with its GLM has the goal of enhancing patient access to healthcare while reducing administrative burdens.

A CBC report from September 16 said real-world applications of AI in healthcare are already showing promising results. Dr. Muhammad Mamdani, co-author of a study on the topic, expressed optimism about AI's ability to "complement clinicians' own judgment and lead to better outcomes for fragile patients."

According to a report by Markets and Markets, the global AI in healthcare market in total was valued at US$20.9 billion this year and will reach an estimated US$148.4 billion by 2029, a compound annual growth rate (CAGR) of 48.1%.

"The growth of AI in the healthcare market is driven by the generation of large and complex healthcare datasets, the pressing need to reduce healthcare costs, improving computing power and declining hardware costs, and the rising number of partnerships and collaborations among different domains in the healthcare sector, and growing need for improvised healthcare services due to imbalance between healthcare workforce and patients," the report said.

Analyst: A 'Genuine Breakout Soon' for Stock

Maund said its stock charts are also looking "very positive indeed" for the company.

Of particular note is the big upleg late in June and early in July on persistent heavy volume, which broke the price clear above the May high and drove volume indicators steeply higher," the analyst noted. [OWNERSHIP_CHART-10594]

"This is very bullish price/volume action, especially as the volume indicators have not just held up but have actually advanced as the price has reacted back in a normal manner from the early July high to arrive at a support level where it has stabilized above the 200-day moving average in readiness for renewed advance, so the correction looks like a large bull Pennant that, as it is now closing up, promises renewed advance soon," continued Maund, who said holders should stay long and rated the stock a Strong Buy that "is thought worth going overweight on."

"The June-July rally must be classed as a 'preliminary' breakout," he noted. "But that said, the exceptionally bullish price/volume action of recent months does promise a genuine breakout soon that looks set to lead to a sustained and substantial uptrend."

Ownership and Share Structure

According to Sedi.ca, insiders own approximately 8% of Treatment.com AI. Retail investors own the remaining 92%.

The company has 48.84 million outstanding common shares and has 41.3 million free float traded shares.

As of October 31, the market cap is approximately CA$31.75 million. Over the past 52 weeks, the company traded between CA$0.355 and CA$1.11 per share.

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Important Disclosures:

1. Treatment.com AI 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 Treatment.com AI.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. 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.
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.

* Disclosure for quotes from the Clive Maund source October 9, 2024

1. For the quote (sourced on October 9, 2024), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$1,500.
2. Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts’ Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed.

Clivemaund.com Disclosures

The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.

( Companies Mentioned: TRUE:CSE; TREIF:OTCMKTS;939:FRA, )

Source: Streetwise Reports 11/05/2024

Treatment.com AI Inc. (TRUE:CSE; TREIF:OTCMKTS; 939:FRA) has announced the release of its newly updated Medical Education Suite (MES). This release aligns with the company's active participation in a major symposium focused on AI assessment in medical education. The Symposium, hosted by the University of Minnesota Medical School,  drew thought leaders and representatives from over 50 medical schools and national education organizations across the United States and internationally.

The updated MES has been designed to leverage Treatment's proprietary Global Library of Medicine (GLM) to help reduce the administration overhead and associated time and costs for medical schools in running key exams, such as the Objective Structured Clinical Examination (OSCE). Additionally, this updated version of the MES includes "easy to use" features to further support students in their clinical assessment training and exam preparation. This OSCE exam is seen as a critical evaluation used globally to assess the practical skills of medical students. It is now employed in more than 80 countries, with between 200,000 to 300,000 students participating annually.¹

The MES incorporates various AI-driven features, such as automated case generation for OSCE exams, scripts for simulated patients, and instant scoring with personalized feedback. The Suite also introduces new tools, including AI Patient, which supports students preparing for medical exams, and expanded OSCE case packages, which are expected to grow to a library of 100 cases by the end of Q4 2024. Additionally, the AI Prep Tool offers both non-guided and guided exam-simulated modes, assisting students in honing their clinical reasoning.

Kevin Peterson, MD, MPH, Treatment's Chief Medical Officer, delivered a keynote at the Symposium, joining an impressive lineup that includes presenters from Mayo Clinic and the University of Alberta. The company highlights that this Symposium is a crucial opportunity to demonstrate its MES and showcase its growing influence in the field of medical education.

CEO Dr. Essam Hamza emphasized the significance of this event, stating in the press release, "We are excited to showcase our updated medical education software suite at this landmark Symposium. The opportunity to have a positive impact on the medical training of students and, in turn, introduce them to our range of proprietary AI tools is an important inflection point in the company's commercialization timeline."

AI in Healthcare

On October 10, Microsoft emphasized the importance of multimodal AI models for a comprehensive assessment of patient health. The report highlighted the growing importance of using AI to analyze complex, multimodal health data, such as medical imaging, genomics, and clinical records. The integration of these data sources has enabled more precise diagnostics and treatment planning, illustrating the sector's move toward comprehensive AI applications. The healthcare industry has faced challenges like the need for large-scale, integrated datasets and significant computational resources, but advancements have begun to bridge these gaps. Microsoft noted that these developments would help unlock new insights and improve patient care by accelerating innovation and enhancing clinical decision-making across the sector.

On November 4, Forbes reported that AI-powered healthcare tools were no longer merely experimental but were instead delivering real value across the industry. Examples included enhanced diagnostic accuracy through AI algorithms, like those developed by Google Cloud Healthcare, and improved administrative processes through platforms like Cedar's AI-powered billing system. Forbes noted that these developments were reshaping patient care and reducing administrative burdens, offering measurable benefits.

Also, on November 4, Tech Target highlighted the optimism among healthcare professionals regarding generative AI's potential to alleviate administrative burdens. Over 90% of healthcare workers surveyed expressed confidence in generative AI's ability to simplify tasks like prior authorizations and nurse handoff reports. Aashima Gupta from Google Cloud shared insights on these tools' transformative capabilities, while Tony Farah from Highmark Health cited an 85% reduction in provider administrative costs after automating prior authorizations. Helen Waters from Meditech added, "We believe that gen AI and AI overall is transforming how healthcare professionals access and use information to make powerful decisions confidently," reflecting the positive impact of AI tools on healthcare workflows and decision-making.

Company Catalysts

Treatment.com AI Inc. continues to evolve its medical education platform, incorporating advanced AI technologies that could help revolutionize medical education and training. The company is leveraging its Global Library of Medicine, which offers over 10,000 medical reviews and covers more than 1,000 diseases and associated symptoms. These AI-driven tools aim to enhance clinical decision-making while reducing administrative burdens for healthcare institutions.

The updated MES is projected to impact medical training through its comprehensive and AI-enhanced features, as outlined in Treatment's investor presentation. The presentation details the significant market potential, with the AI healthcare market expected to grow from US$11 billion in 2021 to US$187 billion by 2030, according to Statista. In addition to Treatment's announced new functionality, the company has already begun work on further solutions such as AI Doctor in a Pocket and audio/video analysis tools for clinical scoring and diagnostics. The goal of this expanded portfolio is to position the company to help expedite its aggressive growth plans over the next year.

Analysis of Treatment.com AI

Ownership and Share Structure

According to Sedi.ca, insiders own approximately 8% of Treatment.com AI. Retail investors own the remaining 92%. 

The company has 48.99 million outstanding common shares and has 41.3 million free float traded shares.

As of November 4, the market cap is approximately CA$31.35 million. Over the past 52 weeks, the company traded between CA$0.355 and CA$1.11 per share.

¹Source bodies including: https://www.aamc.org/; https://www.uems.eu/; https://www.nmc.org.in/; Education – GMC (gmc-uk.org)

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Important Disclosures:

1. Treatment.com AI 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 Treatment.com AI.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. 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.
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.

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* Disclosure for the quote from the Clive Maund article published on [Date]

1. For the quoted article (published on [Date]), the Company has paid Street Smart, an affiliate of Streetwise Reports, between US$1,500 and US$2,500.
2. Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts’ Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed

Clivemaund.com Disclosures

The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.

¹Source bodies including: https://www.aamc.org/; https://www.uems.eu/; https://www.nmc.org.in/; Education – GMC (gmc-uk.org)

( Companies Mentioned: TRUE:CSE; TREIF:OTCMKTS;939:FRA, )

Source: Dr. Joseph Pantginis 11/04/2024

H.C. Wainwright & Co. analysts Dr. Joseph Pantginis, Dr. Lander Egaña Gorroño, Dr. Joshua Korsen, Dr. Matthew Keller, and Dr. Sara Nik, in a research report published on November 4, 2024, maintained their Buy rating on Lexicon Pharmaceuticals Inc. (LXRX:NASDAQ) with a price target of US$6.00. The report follows Lexicon's presentation of preclinical data for LX9851, its ACSL5 inhibitor for obesity, at ObesityWeek 2024.

The analysts highlighted key findings from the presentations, stating, "LX9851 promotes reduction of fat mass without affecting lean body mass" and "LX9851 improves and sustains GLP-1 RA-mediated weight loss, even after semaglutide discontinuation." They added that "Mechanistic studies suggest that LX9851-mediated ACSL5 inhibition activates the ileal brake."

Regarding the drug's potential, they noted, "LX9851 is a first-in-class, oral small molecule ACSL5 inhibitor designed to enhance and maintain weight loss promoted by incretin mimetics (GLP-1 receptor agonists), and offer improved treatment alternatives for obesity and related metabolic disorders."

The report also addressed recent developments with sotagliflozin, detailing the AdCom voting results and potential scenarios for FDA action. The analysts stated, "Although we anticipate favorable feedback from the agency regarding eGFR ≥60 to <90 range, our bet is that a confirmatory trial may be required to validate sota's efficacy in this subpopulation and obtain approval."

H.C. Wainwright & Co.'s valuation methodology is based on a clinical net present value (NPV) model. The analysts explained, "Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug's profile. We currently value Lexicon solely on sotagliflozin sales in the U.S. for HF (INPEFA), HCM, and LX9211 for DPNP."

They added, "We believe significant upside potential exists, based on: (1) attaining higher market penetration for HF, and HCM; and (2) adding the earlier stage assets."

In conclusion, H.C. Wainwright & Co.'s maintenance of their Buy rating and US$6 price target reflects confidence in Lexicon's pipeline potential, particularly with LX9851 and sotagliflozin. The share price at the time of the report of US$1.22 represents a potential return of approximately 392% to the analysts' target price, highlighting the significant upside potential if the company's development programs prove successful.

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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.

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Disclosures for H.C. Wainwright & Co., Lexicon Pharmaceuticals Inc., November 4, 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, Joseph Pantginis, Ph.D., Lander Egaña Gorroño, Ph.D., Joshua Korsen, Ph.D., Matthew Keller, Ph.D. and Sara Nik, 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 Lexicon Pharmaceuticals, 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 Lexicon Pharmaceuticals, 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 received compensation from Lexicon Pharmaceuticals, Inc. for non-investment banking services in the previous 12 months. The Firm or its affiliates did not receive compensation from Lexicon Pharmaceuticals, 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 Lexicon Pharmaceuticals, Inc. as of the date of this research report.

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( Companies Mentioned: LXRX:NASDAQ, )

Source: Dr. Douglas Loe 11/05/2024

Leede Financial Inc. analyst Dr. Douglas Loe, in a research report published on November 4, 2024, maintained a Buy rating on Profound Medical Corp. (PROF:NASDAQ; PRN:TSX) with a price target of US$18.00. The report follows Profound's announcement that its TULSA-PRO device will receive a Category One CPT code from the U.S. Centers for Medicare & Medicaid Services (CMS).

Loe highlighted the significance of the reimbursement update, stating, "We have long viewed device-specific U.S. reimbursement codes for TULSA-PRO to be integral to its broader adoption in urology/oncology markets, and today's update thus solidifies TULSA-PRO's status on that theme."

The analyst emphasized the favorable reimbursement rates, noting, "Hospitals/ASCs will be reimbursed at the Medicare average of US$12,992/US$10,728 per procedure. This is sufficient economic incentive in our view to drive TULSA-PRO installed base and procedure volume growth in F2025 and thereafter."

Regarding growth projections, Loe stated, "Our model assumes that consolidated revenue/EBITDA/EPS in F2025 of US$34.9M/(US$3.9M)/(US$0.20/shr), but then lifting substantially on all metrics to US$59.1M/US$14.7M/US$0.10/shr in F2026 and then to US$95.5M/US$38.1M/US$1.05/shr in F2027."

The report highlighted potential strategic interest, with Loe noting, "We expect urology-focused suitors to show tangible interest in Profound as the annual top-line performance approaches US$100M on a run-rate basis, which our model projects by FH227."

Leede Financial's valuation methodology combines multiple approaches. Loe explained, "Our valuation still based on NPV (20% discount rate) and multiples of our F2027 EBITDA/fd EPS forecasts (US$38.1M & US$1.05/shr, respectively), with our EV calculation incorporating FQ224 balance sheet data (cash of US$34.1M, total debt of US$6.0M) and fully-diluted S/O of 26.0M."

The analyst also noted that while F2024 is a transition year, F2025 is expected to be transformative for U.S. TULSA-PRO adoption rates.

In conclusion, Leede Financial's maintenance of its Buy rating and US$18 price target reflects confidence in Profound Medical's growth potential following the favorable reimbursement update. The share price at the time of the report of US$7.35 represents a potential return of approximately 145% to the analyst's target price, highlighting the significant upside potential as the company advances its commercialization efforts.

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Disclosures for Leede Financial Inc., Profound Medical Corp., November 4, 2024

Important Information and Legal Disclaimers Leede Financial Inc. (Leede) is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). This document is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular investing strategy. Data from various sources were used in the preparation of these documents; the information is believed but in no way warranted to be reliable, accurate and appropriate. All information is as of the date of publication and is subject to change without notice. Any opinions or recommendations expressed herein do not necessarily reflect those of Leede. Leede cannot accept any trading instructions via e-mail as the timely receipt of e-mail messages, or their integrity over the Internet, cannot be guaranteed. Dividend yields change as stock prices change, and companies may change or cancel dividend payments in the future. All securities involve varying amounts of risk, and their values will fluctuate, and the fluctuation of foreign currency exchange rates will also impact your investment returns if measured in Canadian Dollars. Past performance does not guarantee future returns, investments may increase or decrease in value, and you may lose money. Leede employees may buy and sell shares of the companies that are recommended for their own accounts and for the accounts of other clients. Disclosure codes are used in accordance with Policy 3600 of CIRO.

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( Companies Mentioned: PROF:NASDAQ; PRN:TSX, )

Source: Dr. David Nierengarten 11/07/2024

TScan Therapeutics Inc. (TCRX:NASDAQ) Phase 1 ALLOHA study, evaluating its lead therapeutic candidates TSC-100 and TSC-101 in hematologic malignancies, showed patients continuing to have a positive response after one year, reported Wedbush analyst Dr. David Nierengarten in a Nov. 5 research note. TSC-100 and TSC-101 are T-cell receptor-engineered T-cell therapies (TCR-Ts).

"We see a catalyst-rich next few months ahead with data building in prominence on stock impact," Nierengarten wrote.

87% Return Potential

Wedbush has a US$10 per share target price on the Massachusetts-based biotech, trading at the time of the report at about US$5.36 per share, noted the analyst. The difference between these figures implies an 87% return potential for investors.

TScan Therapeutics remains rated Outperform.

Durability of Response Data

Nierengarten presented the clinical trial's latest results. As of the July 8, 2024 data cutoff date, in Phase 1 of ALLOHA, 16 patients with hematologic tumors had been administered TSC-100 or TSC-101, and 11 patients had been given a placebo. Median follow-ups had occurred at 5.8 months and 5.3 months, respectively.

At the time, none of the patients in the treatment arm had had a relapse. In the control arm, however, three, or 27% of, the 11 patients had, and the median time to relapse was 159 days. The analyst explained that this is typical for patients receiving a hematopoietic stem cell transplant after reduced-intensity conditioning.

One year out from treatment, five patients were evaluable, and all remained relapse free and minimal residual disease negative at the time. These data underscore the durability of response to this TCR-T treatment, Nierengarten commented. Its safety profile was shown to be favorable still, with no patients experiencing dose-limiting toxicities or adverse events associated with allogeneic hematopoietic cell transplantation.

"Enrollment continues in dose expansion cohorts, and results could support a registrational trial as early as 2025, pending regulatory feedback," Nierengarten wrote.

On the Horizon

TScan Therapeutics has several catalysts related to its clinical programs on the horizon, which Nierengarten listed.

On Nov. 8 and 9, the company will present preclinical data in the poster sessions at the annual Society for Immunotherapy of Cancer meeting. One poster will show in vitro combinatorial data for T-Plex, TScan's cellular therapy for treating solid tumors. It is comprised of two to three different TCR-Ts that target different tumor antigens on different human leukocyte antigen (HLA) types.

A second poster will detail the expansion of ImmunoBank, the biotech's diverse bank of therapeutic T-cell receptors (TCRs) that recognize diverse targets and are associated with multiple HLA types. The third will depict development of a target agnostic platform to evaluate how TCR-Ts affect primary human tissues.

On Dec. 9, TScan Therapeutics will present updated one-year data from ALLOHA, at the American Society for Hematology Annual Meeting in December.

By year-end, the biotech will announce initial data from administering singleplex therapy, cell therapy engineered using a single TCR, to patients with solid tumors. This treatment is being given to establish safety before administering multiplex therapy, cell therapy engineered from multiple TCRs.

In 2025, TScan Therapeutics will provide long-term duration of response data for multiplex therapy in solid tumors and will potentially commence a registrational trial for TSC-100 and TSC-101.

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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.
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Disclosures for Wedbush, TScan Therapeutics Inc., November 5, 2024

Analyst Certification We, David Nierengarten, Martin Fan and Dennis Pak, 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 TScan Therapeutics, Inc.. 6. WS is acting as a financial advisor for TScan Therapeutics, Inc..

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.

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( Companies Mentioned: TCRX:NASDAQ, )