reports
Galectin Therapeutics Announces Top-Line Results of NAVIGATE Clinical ...
Galectin Therapeutics Announces Top-Line Results of NAVIGATE Clinical Trial Evaluating Belapectin in Patients with Cirrhotic Portal Hypertension Caused by MASH In the pre-specified per-protocol population, belapectin showed a statistically significant reduction (p-value < 0.05) in development of esophageal varices in 2mg/kg cohort compared to placeboWhile there was a favorable trend for incidence of varices in the primary end point intent-to-treat population, belapectin did not achieve statistical significanceBelapectin was overall well tolerated with no safety signals; incidence of adverse...
- Jonathan Chaplin
Quick hit: spectrum auction in 2025; implications for Dish and carrier...
Blair published a note this morning that anticipates the FCC receiving authority to auction the AWS-3 licenses that Dish relinquished as part of the NDAA. We think an auction could take place in 2H25. In this brief note, we cover the implications for Dish and for the other carriers.
- Blair Levin
Finally, Hope for a (Small) Spectrum Auction
One of the must-pass pieces of legislation left for this Congress is the National Defense Authorization Act (NDAA). The current draft now includes a provision that would appropriate $3 billion for the Rip and Replace program designed to help small telecom companies remove and replace equipment purchased from Chinese telecommunications equipment companies, equipment Congress believes creates national security risks. The legislation funds the appropriation by allowing the FCC to conduct a one-ti...
Live Oak Ventures Participates in Financing of Sunbound, Inc.
Live Oak Ventures Participates in Financing of Sunbound, Inc. WILMINGTON, N.C., Dec. 04, 2024 (GLOBE NEWSWIRE) -- Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Sunbound Inc., a provider of automated financial operations solutions for the senior housing industry. Sunbound leverages best in class technology to optimize financial operations, so senior housing communities can concentrate on delivering exceptional residential care while improving their financial profile and operational efficiency. “Our team understands the challenges of op...
- Jonathan Chaplin
- Jonathan Chaplin
3Q24 Broadband Trends: FWA capacity limits; FWA demand limits
In this iteration of “Broadband Trends” we update our FWA capacity forecast. We also touch on early signs that demand for FWA may be limited, which could prevent mobile operators from reaching capacity limits (or force them to work harder to get there). This could have a big impact on the pace of Cable subscriber growth. Finally, we reprise our work on the competitive positioning of the various operators based on relative NPS scores.
- Jonathan Chaplin
SATS: a thought on the debt exchange
In this note we show how there is at least $0.7BN of additional value on the table that could help narrow the discount DBS bondholders are being asked to accept in order to get the DTV deal across the goal line. We also run through the differences between the four segments EchoStar reports at earnings and the four filing entities they disclose to the SEC. We also update our estimates for DBS, Dish Networks and Hughes now that their 10-Q’s have been filed.
Galectin Therapeutics Presents Three Abstracts at the American Associa...
Galectin Therapeutics Presents Three Abstracts at the American Association for the Study of Liver Diseases (AASLD) 2024 Liver Meeting Patient population for the NAVIGATE trial is based on non-invasive tests and clinical criteria utilizing latest treatment guidelines for portal hypertension in MASH cirrhosisBlinded central review system can be effectively set-up for evaluation of esophagogastoduodenoscopy (EGD) in large multi-center trial of patients with MASH cirrhosis and portal hypertension, facilitating utilization of this outcome as a critical endpoint in portal hypertension trialsAppro...
Galectin Therapeutics Reports Financial Results for the Quarter Ended ...
Galectin Therapeutics Reports Financial Results for the Quarter Ended September 30, 2024 and Provides Business Update NAVIGATE trial on track for top-line results in December 2024 NORCROSS, Ga., Nov. 14, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins, today reported financial results and provided a business update for the quarter ended September 30, 2024. Joel Lewis, Chief Executive Officer and President of Galectin Therapeutics, said “This past quarter, we remained laser-focus on advancing the NAVIGATE trial of belapectin in...
- Jonathan Chaplin
Live Oak Bancshares, Inc. Reports Third Quarter 2024 Results
Live Oak Bancshares, Inc. Reports Third Quarter 2024 Results WILMINGTON, N.C., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (NYSE: LOB) (“Live Oak” or “the Company”) today reported third quarter of 2024 net income of $13.0 million, or $0.28 per diluted share. “Live Oak delivered historic production levels this quarter as our teams continue to put capital into the hands of business owners across the country,” said Live Oak Chairman and Chief Executive Officer James S. (Chip) Mahan III. “We believe our business momentum is in an exciting place and our conservative approach...
Live Oak Ventures Participates in Financing of Synply, Inc.
Live Oak Ventures Participates in Financing of Synply, Inc. WILMINGTON, N.C., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Synply Inc., a cloud-based technology company dedicated to transforming the loan syndication process for banks. “Live Oak’s entrepreneurial environment is fertile ground for new and exciting companies like Synply to enter the fintech landscape,” said Stephanie Mann, Live Oak Bank Chief Strategy Officer. “After incubating the Synply platform at Live Oak, we are excited to see the...
- Jonathan Chaplin
EchoStar: Value increases following transactions (but takes longer to ...
We have updated our model for the sale of DBS and increased investment in network infrastructure and subscriber growth following the capital raise. We have also updated spectrum values for recent transactions. We are more confident than ever in the value that will be realized if spectrum is sold, though the timing of a sale has likely been pushed out. Dish could build a business that is as valuable as the spectrum, but it is tough to have confidence in this.
Galectin Therapeutics Announces Acceptance of Three Abstracts for the ...
Galectin Therapeutics Announces Acceptance of Three Abstracts for the American Association for the Study of Liver Diseases (AASLD) 2024 Liver Meeting NORCROSS, Ga., Oct. 15, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins, today announced that three abstracts from ongoing Phase 2b/3 adaptive, NAVIGATE trial in patients with MASH cirrhosis and portal hypertension have been accepted for poster presentation at the American Association for the Study of Liver Diseases (AASLD)’s annual meeting, 2024 Liver Meeting, being held November...
Live Oak Bancshares, Inc. Announces Date of Third Quarter 2024 Financi...
Live Oak Bancshares, Inc. Announces Date of Third Quarter 2024 Financial Results WILMINGTON, N.C., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (“Live Oak”) (NYSE: LOB) today announced that it will report its third quarter 2024 financial results after U.S. financial markets close on Wednesday, October 23, 2024. In conjunction with this announcement, Live Oak will host a conference call to discuss the company's financial results and business outlook on Thursday, October 24, 2024, at 9:00 a.m. ET. The call will be accessible by telephone and webcast using Conference ID: 044...
- Blair Levin
NSR Policy: Implications of Multiple Mergers at the FCC
It appears likely that within a few months, multiple transactions—TMUS buying US Cellular, VZ buying Frontier, and DISH and DirecTV merging—will be pending at the FCC. The transactions involve all four, or three (depending on how you think about it) of the national facilities based mobile carriers. Investors have asked, how will the presence of multiple transactions affect the process of approval for each other? We address that question in this note.
- Blair Levin
NSR Policy: What We Learned from the DBS Deal Announcements
The big news yesterday was the announcement of a series of deals related to EchoStar, DirecTV, TPG and AT&T. Our colleagues have put out a series of notes relating to what we learned on the financial front. In this quick note we review what we learned on the antitrust/regulatory front.
- Jonathan Chaplin
EchoStar transactions – they did it!
A couple of quarters ago, Dish set out to lower debt outstanding, extend maturities on the debt that remained, and put new cash on the balance sheet. They had a deadline of November 2024, when $2BN of debt at DBS matured. As we approached the deadline, investors were growing increasingly skeptical that it could be done. They did it all, and they wrapped a sale of DBS into the process. Our thoughts on the deals and the implications for EchoStar and the broader industry in this note.
Galectin Therapeutics to Participate in the H.C. Wainwright MASH Confe...
Galectin Therapeutics to Participate in the H.C. Wainwright MASH Conference NORCROSS, Ga., Sept. 30, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins, today announced that Joel Lewis, Chief Executive Officer and Khurram Jamil, M.D., Chief Medical Officer, will be attending the H.C. Wainwright MASH Investor Conference being held October 7, 2024. Dr. Jamil will be sharing the latest updates on clinical programs and pipeline advancement on October 7, 2024 at 10:00 AM ET. The webcast of the presentation can be accessed or through ...
- Blair Levin
NSR Policy: Rural Areas and the DBS Merger
One issue that keeps coming up is how the government will assess the competitive impact of the DBS merger on rural areas. A New York Times article this weekend summarized the concern many have raised. In this note, we assess what the article got right and what it missed.
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