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Good post; fundamental catalysts are amazing!
GCT & AKLI > Both running Monday. The DNAA > is new symbol AKLI.
Nice alert moonape! Agree GTC heading higher!
Social Capital Suvretta Holdings Corp. I Up 56% After Akili Deal Closes
2:12 pm ET August 19, 2022 (Dow Jones)
By Josh Beckerman
Shares of blank-check company Social Capital Suvretta Holdings Corp. I rose 56% to $14.81 after it completed its combination with digital medicine company Akili Interactive.
According to a Nasdaq alert, the deal closed Friday, and the company's new name, Akili Inc., and new symbol, AKLI, will be effective Monday.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
August 19, 2022 14:12 ET (18:12 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Digital Medicine Leader Akili to List on Nasdaq Following Successful Business Combination with Social Capital Suvretta Holdings Corp. I
5:25 pm ET August 19, 2022 (BusinessWire) Print
--Total gross proceeds of more than $163 million will support launch of first FDA-cleared video game treatment and advancement of late-stage pipeline
Akili, a leading digital medicine company, today completed its previously announced business combination with Social Capital Suvretta Holdings Corp. I ("SCS") (Nasdaq: DNAA), a publicly traded special purpose acquisition company. The newly formed company, Akili, Inc. ("Akili"), is expected to start trading on The Nasdaq Capital Market ("Nasdaq") under the new ticker symbol "AKLI" on August 22, 2022.
Akili raised more than $163 million from the transaction, before deducting transaction expenses and advisory fees, which, together with cash on hand, the company expects will be sufficient to fund at least 24 months of business operations, excluding any contributions from EndeavorRx(R) revenues. Proceeds from the transaction will fund the commercial launch of EndeavorRx, a first-of-its-kind, U.S. Food and Drug Administration (FDA) cleared and Conformite Europeenne (CE) Mark certified prescription digital therapeutic for pediatric attention-deficit/hyperactivity disorder (ADHD) (see full indication and safety information below), as well as potential expansion into additional ADHD patient populations. Proceeds will also support the advancement of the company's late-stage pipeline of product candidates designed to treat neuropsychiatric diseases, including autism spectrum disorder (ASD), multiple sclerosis (MS), and major depressive disorder (MDD). SCS shareholders approved the transaction at a general meeting on August 18, 2022.
Eddie Martucci, CEO of Akili, said: "Today's milestone reflects the combined efforts of the committed Akili team and SCS who together made this defining moment possible. Millions of people worldwide live with cognitive impairment without effective treatments. I am proud of our talented employees - leaders in neuroscience, entertainment and consumer technology - who are propelling Akili's innovative software-based therapeutics forward to deliver an engaging, immersive experience. I am extremely excited about what's ahead as we begin to scale and serve patients in need."
Chamath Palihapitiya, Chairman and CEO of SCS, commented: "With this milestone completed, Akili has a number of others ahead, including its upcoming commercial launch of EndeavorRx and a strong clinical pipeline of breakthrough digital therapeutic candidates that have the potential to treat a host of cognitive impairments. I look forward to working with Eddie and the Akili team as they enter this new and exciting chapter."
A commercial-stage company, Akili develops digital therapeutics that combine science and technology to address cognitive impairments in patients, representing a new category of software-based medicine that is designed to directly target brain function and is delivered through engaging consumer entertainment. Cognitive impairments - including inattention, poor concentration, memory loss, difficulties learning new skills, and difficulties with decision making - are in aggregate among the largest unmet medical needs and are increasingly recognized as contributing to or associated with dozens of chronic diseases and acute illnesses.
Scheduled for U.S. launch in the fourth quarter of 2022, EndeavorRx is the first-ever prescription video game and the first-ever FDA-cleared digital therapeutic indicated to improve attention function in children with ADHD (see full indication below). In addition, the company's patented and clinically validated Selective Stimulus Management Engine (SSME(TM)) has demonstrated proof-of-concept efficacy in controlled trials targeting attention and cognitive dysfunction in ASD, MS, and MDD.
Akili CEO and co-founder Eddie Martucci will continue to lead Akili's management team and serve on Akili's board. Chamath Palihapitiya, Chairman and CEO of SCS, will chair Akili's board. Akili's board also includes William ("BJ") Jones, Jr., Chief Commercial Officer of Biohaven Pharmaceuticals Holding Company Ltd.; Christine Lemke, Co-Chief Executive Officer and Director of Evidation Health, Inc.; Kenneth Ehlert, former Chief Scientific Officer of UnitedHealth Group; Bharatt Chowrira, Ph.D., J.D., president of PureTech Health plc.; and Adam Gazzaley, M.D., Ph.D., Akili co-founder, David Dolby Distinguished Professor of Neurology, Physiology, and Psychiatry and the Founder & Executive Director of Neuroscape at the University of California, San Francisco.
Advisors
Morgan Stanley & Co. LLC ("Morgan Stanley") and Cowen and Company, LLC ("Cowen") served as financial advisors to Akili. Morgan Stanley, Credit Suisse, and Cowen served as co-placement agents to SCS with respect to the portion of the PIPE financing raised from non-insider qualified institutional buyers and institutional accredited investors. Morgan Stanley, Credit Suisse, and Cowen did not act as agents or participate in any role with respect to, and did not earn any fees from, the portion of the PIPE financing raised from insiders and individual investors. Credit Suisse and Cowen served as capital markets advisors to Akili. BofA Securities, Inc. served as capital markets advisor to SCS. Goodwin Procter LLP served as legal counsel to Akili. Wachtell, Lipton, Rosen & Katz served as legal counsel to SCS. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to the PIPE placement agents.
EndeavorRx Indication and Overview
EndeavorRx is the first-and-only FDA-cleared treatment delivered through a video game experience. EndeavorRx is indicated to improve attention function as measured by computer-based testing in children ages 8 to 12 years old with primarily inattentive or combined-type ADHD, who have a demonstrated attention issue. Patients who engage with EndeavorRx demonstrate improvements in a digitally assessed measure Test of Variables of Attention (TOVA(R)) of sustained and selective attention and may not display benefits in typical behavioral symptoms, such as hyperactivity. EndeavorRx should be considered for use as part of a therapeutic program that may include clinician-directed therapy, medication, and/or educational programs, which further address symptoms of the disorder. EndeavorRx is available by prescription only. It is not intended to be used as a stand-alone therapeutic and is not a substitution for a child's medication. The most common side effect observed in children in EndeavorRx's clinical trials was a feeling of frustration, as the game can be quite challenging at times. No serious adverse events were associated with its use. EndeavorRx is recommended to be used for approximately 25 minutes a day, 5 days a week, over initially at least 4 consecutive weeks, or as recommended by your child's health care provider. To learn more about EndeavorRx, please visit EndeavorRx.com.
About Akili
Akili is pioneering the development of cognitive treatments through game-changing technologies. Our approach of leveraging technologies designed to directly target the brain establishes a new category of medicine - medicine that is validated through clinical trials like a drug or medical device but experienced like entertainment. Akili's platform is powered by proprietary therapeutic engines designed to target cognitive impairment at its source in the brain, informed by decades of research and validated through rigorous clinical programs. Driven by Akili's belief that effective medicine can also be fun and engaging, Akili's products are delivered through captivating action video game experiences. For more information, please visit www.akiliinteractive.com.
About Social Capital Suvretta Holdings Corp. I
Social Capital Suvretta Holdings Corp. I was led by Chamath Palihapitiya and Kishen Mehta and was a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was focused on businesses operating in the biotechnology industry and within the neurology subsector. To learn more about Social Capital Suvretta Holdings, visit https://www.socialcapitalsuvrettaholdings.com/.
Forward-Looking Statements
This communication may contain certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions and include statements regarding Akili's expectations for EndeavorRx and digital medicine, the development of its platform and advancement of late-stage pipeline product candidates designed to treat neuropsychiatric diseases, including ASD, MS) and MDD, expectations and timing regarding the commercial launch of EndeavorRx and plans for the potential expansion of EndeavorRx into additional ADHD populations. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to (i) the ability of Akili to successfully commercialize EndeavorRx and continue to advance its clinical development pipeline, (ii) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees, (iii) the evolution of the markets in which Akili competes, (iv) the ability of Akili to defend its intellectual property and satisfy regulatory requirements, (v) the impact of the COVID-19 pandemic on Akili's business, (vi) Akili's expectations regarding its market opportunities, (vii) the risk of downturns and a changing regulatory landscape in the highly competitive industry in which Akili operates and (viii) the timing and results expected from Akili and its partners' clinical trials. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties proxy statement/prospectus filed with the SEC on July 21, 2022, under the heading "Risk Factors," and other documents that SCS filed or Akili has filed or will file, with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Akili assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Akili gives no assurance that it will achieve its expectations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220819005385/en/
SOURCE: Akili, Inc.">
Akili
Julie DiCarlo
julie@akiliinteractive.com
Social Capital Suvretta
Reze Wong
reze@socialcapital.com
FGS Global
socialcapital@fgsglobal.com
comtex tracking
COMTEX_412648447/1006/2022-08-19T17:25:00
Here is the catalyst: Graphex Group Limited Announces Closing of Upsized $11.7 Million Public Offering and NYSE American Listing
4:05 pm ET August 19, 2022 (Globe Newswire) Print
Graphex Group Limited (NYSE American: GRFX), ("Graphex", or the "Company"), a global leader in mid-stream processing of specialized natural graphite used for electric vehicle (EV) lithium-ion (Li-ion) batteries, today announced the closing of its previously announced upsized public offering of 4,695,653 American Depositary Shares (ADSs), each ADS representing 20 ordinary shares, par value HK$0.01 per share, of the Company, at a public offering price of $2.50 per ADS, for aggregate gross proceeds of approximately $11.7 million before deducting underwriting discounts, commissions, and other offering expenses. In addition, Graphex has granted the underwriters a 45-day option to purchase up to an additional 704,347 ADSs at the public offering price per ADS, less the underwriting discounts and commissions, to cover over-allotments, if any.
The ADSs began trading on the NYSE American Exchange on August 17, 2022, under the ticker symbol "GRFX".
EF Hutton, division of Benchmark Investments, LLC, acted as sole book-running manager for the offering.
Have a great weekend! Monday may be another stellar day!
Good session! 51.00 now in AH > I am holding; enjoy wknd.
I have held my 23's and 24.17 shares all day. > GCT strong!
That 15.00 PT will be broken on next FDA phase III, positive trial results.
outperform rating and a $15.00 price target on Oncternal shares.
LMAO ..... "You can check-out any time you like"
"But you can never leave!" The Giga Rocket ( Hotel California).
GCT
Did you ever see the movie CRAZY RICH ASIANS? There is so much money in Singapore, Hong Kong, and elsewhere. GCT is going higher!
My son has been reading, lots of the culture in China, and the importance of owning a home. Plus many other culture differences.
Did you ever see the movie CRAZY RICH ASIANS? There is so much money in Singapore, Hong Kong, and elsewhere. GCT is going higher!
My son has been reading, lots of the culture in China, and the importance of owning a home. Plus many other culture differences.
I am liking these " Crazy Rich Asian " runners.
GCT
GCT 55.55
GCT is doing substantial biz w/ Amazon.
The company generated $414 million in revenue and $29 million in net income last year.
Wonder if LeBron James , and Gronk buying GCT shares? Regardless some big block buys happening!
GCT generating $olid revenues > HAVING NET PROFITS!!!!!
GCT back over 50.00+
This "Big Falcon Rocket" is heading to $100.00+ in AH.
GCT
Thanks! It's been a fun ride with many halts!
GTC
Whales loading 1000 blocks & higher!
Absolutely amazing ATM > GCT
Hope to see next halt in the 60.00's > Boom!
48.19 / multiple upward halts!
Exactly! No halts in AH.
The OS is 30M according to MarketWatch. Trading float is in state of flux!
GTC 44.65
GTC will be halted all the way up to 100.00+ > Then comes huge upside run in AH.
Obviously, my opinion!
GLTY
GCT 36.68
36.68
GCT IS A GREAT $$$$$ OPPORTUNITY.
I believe the trading float is 2.9M shares. I believe we could hit century mark today!
$GCT break $50 we may $100
GCT 41.98 > hod.
GigaCloud stock accelerates gains in sophomore session, to trade more than 4 times the IPO price
9:55 am ET August 19, 2022 (MarketWatch)
Print
Shares of GigaCloud Technology Inc. rocketed again it their sophomore session on Nasdaq, to trade at more than four-times the initial public offering price. The Hong Kong-based business-to-business (B2B) ecommerce platform for large parcel merchandise went public on the Nasdaq on Thursday, after the company raised about $36 million by selling 2.94 million shares at an IPO price of $12.25 a share. The stock opened Thursday at $19.20, or 56.7% above the IPO price, then traded within a intraday range of $12.51 to $21.22 before closing at $15.69, on volume of 11.5 million shares. On Friday, the stock gapped 69.8% higher at the open, starting the day at $26.64, before the rally accelerated to 144.0% to $38.28 (312.5% above the IPO price), on volume of 7.7 million shares in about the first 20 minutes after the opening bell. The stock has already been halted twice for volatility. The stock's rally comes while the Renaissance IPO ETF dropped 3.2% in morning trading and the S&P 500 slumped 1.0%.
-Tomi Kilgore
(END) Dow Jones Newswires
August 19, 2022 09:55 ET (13:55 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
GRFX is a great $$$$$ opportunity.
Multi-halts > 38.28
GCT > 38.28
These upward Nasdaq circuit breaker halts could increase with each taking a longer time frame.
$GCT Halted again?
These upward halts could increase with each taking a longer time frame.