So, the “September rally” didn’t really pan out as many indices hit lows not seen in months, but at least interest rates were kept firm for now, so that is some good news, right?
Investors have been worried about the possibility of an imminent U.S. government shutdown unless Congress resolves a deadlock by this weekend, yet another challenge for the financial health of many.
In our weekly Buzz on the Bullboards review, we dive into some of the most popular companies on the site. It gives us a chance to see where the community feels the rising players are headed, and where the investment opportunities lie.
This week, we highlight three companies that have recently generated a consistent amount of investment attention. Even though they’re all on different trajectories, each one has its own attractive quality that has drawn users to figure out where they’re headed.
Oncolytics Biotech Inc. (TSX:ONC, Forum) was awarded a US$5 million grant to accelerate its research into treatments for pancreatic cancer from the Pancreatic Cancer Action Network (PanCAN).
The annual grant, known as the Therapeutic Accelerator Award, adds to the more than US$208 million PanCAN has invested since 2003 to advance scientific research on pancreatic cancer.
The network is recognizing Oncolytics Biotech for its “promising work on pelareorep, an investigational immunotherapy treatment that introduces double-stranded RNA into cancer cells, which stimulates anti-cancer inflammatory effects, including innate and adaptive immune responses and the activation and recruitment of T cells into the tumor,” according to a statement.
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The clinical-stage biotechnology company will allocate the funds to ongoing research focused on a clinical trial with pelareorep in combination with modified Folfirinox chemotherapy with or without an immune checkpoint inhibitor. This treatment would allow all patients with advanced pancreatic cancer to benefit from pelareorep’s potential cancer-fighting abilities.
Source: Oncolytics Biotech.
Contingent on results, the company may then proceed with the treatment’s late-stage development through the PanCAN Precision Promise adaptive clinical trial platform. The combination of pelareorep, gemcitabine, nab-paclitaxel and atezolizumab was granted fast-track designation by the FDA in 2022 and will be part of Precision Promise, which is slated for 2024.
Besides being aggressive and hard to treat, “pancreatic cancer is estimated to be the second leading cause of cancer-related deaths in the United States before 2030,” the statement continued. Despite this ominous prediction, research is often ignored because pancreatic cancer affects a smaller number of people compared with more pervasive cancers.
E3 Lithium Ltd. (TSXV:ETL, Forum) provided preliminary update on the direct lithium extraction (DLE) technology results at its field pilot plant.
The top lithium stock is conducting three predefined tests to review various operating conditions to understand anticipated performance in a commercial environment. E3 Lithium will select the operating conditions that produced the best results to run for a longer period.
The success of the longer operating period will confirm the results of the initial testing and will enable the commercial design of this system for the pre-feasibility study (PFS) and engineering designs. The lithium concentrate produced by the longer operating period will also be used for the development of the lithium production system for the PFS and engineering designs that follow.
E3 Lithium – E3 Lithium field pilot plant on August 28, 2023. Source: Business Wire.
Results for the first three tests:
- Initial lithium recovery: Greater than 94 per cent
- Purity of concentrate: Greater than 80 per cent
- Average lithium grade in concentrate: 884 mg/L
E3 Lithium will test its technology along with two third-party technologies throughout pilot operations.
It has been a big week for Air Canada Inc. (TSX:AC, Forum). Canada’s largest airline was the victim of a cyberattack that has compromised the personal information of an undisclosed number of employees.
According to a statement, Air Canada spokesman Peter Fitzpatrick said a limited number of records were at risk but did not specify which ones, or provide any details about the timing of the attack or when the company found out about it.
“We can confirm that our flight operations systems and customer-facing systems were not affected. No customer information was accessed,” he said in the statement. “We can also confirm all our systems are fully operational. We have since implemented further enhancements to our security measures, including with the help of leading global cybersecurity experts, to prevent such incidents in the future as part of our ongoing commitment to maintaining the security of the data we hold.”
While Air Canada has been in contact with authorities, as well as the affected workers, the fallout may be only just beginning, given that it submitted a breach report to The Office of the Privacy Commissioner of Canada that is currently under review. Québec police and the RCMP have also yet to comment.
Source: Air Canada.
The Montréal-based airline followed this up with an announcement that its team had placed an order with the Boeing Company (NYSE:BA) for 18 Boeing 787-10 Dreamliner aircraft.
The new aircraft are set to be delivered by the beginning of Q4 2025 with the last aircraft scheduled to land in Q1 2027. They will be used to replace older, less efficient wide-body aircraft currently in Air Canada’s fleet. The agreement also includes options for another 12 Boeing 787-10 aircraft, which will provide flexibility for growth to meet future customer demand.
The 787 reduces fuel use and improves efficiency by up to 25 per cent compared with previous generation jets.
“With the 787 Dreamliner family, Air Canada will soon operate one of the most modern, efficient widebody fleets in the world,” Boeing Commercial Airplanes President and CEO Stan Deal said in a statement. “The 787-10 will provide Air Canada with greater flexibility and commonality across its expansive network.”
“Our experience shows customers greatly enjoy flying on the Dreamliner, so we are pleased to offer them a larger version of this popular aircraft, which will premiere a new, state-of-the-art interior cabin design,” Air Canada’s president and CEO, Michael Rousseau, said in a news release. “As importantly, the 787 is highly fuel efficient and will generate operational savings as well as support our sustainability goals of reducing emissions.”
Air Canada currently operates a fleet of 38 787s, including eight 787-8 and 30 787-9 jets. The largest model in the family, the 787-10, can carry up to 336 passengers with a range of 11,730 kilometres.
From one shortened week to another, on account of two long-weekends ahead for some, the coming weeks should bring a return to relative normalcy. We see how the major sectors are faring in October, and which companies the Bullboards are focused on for the autumn trading season.
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