The market story this week has been less impressive on both sides of the border than what we saw in the week where February turned to March. Recent losses and flatline trading have negated Wall Street’s previous record-setting run where major U.S. indices traded at, near or beyond earlier levels.
A major area pulling markets back from their recent success is the tech sector, which has struggled more than usual in recent weeks.
One tech stock that has shone through the clouds is Fobi AI Inc. (TSXV:FOBI, Forum), which is up more than 35 per cent over the past month.
The Canadian AI company has secured a coveted spot among 10 startups chosen for the 2024 Comcast NBCUniversal SportsTech Accelerator Program.
The program kicked off this week in Florida with a roadshow of partner events and immersion experiences designed to deepen customer discovery. Founders will have the opportunity to visit iconic venues such as Universal Studios Florida and NASCAR’s Daytona International Speedway, gaining insights into the operational intricacies of professional sporting events such as the Arnold Palmer Invitational produced by PGA TOUR and NBC Sports’ Golf.
(Source: Comcast NBCUniversal.)
As one of the few chosen from a pool of more than 1,500 applicants, Fobi AI will have the chance to collaborate with renowned entities such as the Premier League, NBC Sports, Sky Sports, Comcast Spectacor, Golf, NASCAR and PGA Tour. Additionally, participation from three U.S. Olympic sports organizations – U.S. Ski & Snowboard, USA Swimming and USA Cycling – further enhances the program’s prestige and potential impact.
This program offers significant opportunities for Fobi AI to engage with top sports and tech brands worldwide, driving innovation and propelling the company to new heights.
It also offers participants unique access to decision-makers at leading sports brands and organizations, as well as within Comcast’s extensive network. This access provides invaluable insights into enhancing Fobi AI’s products and services, preparing the company for accelerated commercial success through strategic collaborations with program partners and within the broader sports industry.
Healthcare company Oncolytics Biotech Inc. (TSX:ONC, Forum) initiated a new Phase 1/2 cohort to evaluate a novel treatment approach to pancreatic cancer.
Oncolytics is developing pelareorep, an intravenously delivered immunotherapeutic agent that activates the immune system’s cancer defenses and makes tumors more susceptible to oncology treatments.
The company submitted an amendment to its GOBLET (Gastrointestinal tumOrs exploring the treatment comBinations with the oncolytic reovirus peLarEorep and anTi-PD-L1) gastrointestinal cancer study to initiate this new phase cohort evaluating pelareorep in combination with modified FOLFIRINOX with and without atezolizumab (Tecentriq) in patients with newly diagnosed metastatic pancreatic ductal adenocarcinoma (PDAC).
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The cohort, the fifth of the GOBLET study, is being supported by a US$5 million Therapeutic Accelerator Award from the Pancreatic Cancer Action Network. The study was established to accelerate the development of new treatments for pancreatic cancer.
Evaluation of this novel treatment approach could complement Oncolytics’ ongoing development of pelareorep, atezolizumab, gemcitabine and nab-paclitaxel in PDAC, which is expected to advance to a registrational study later this year.
Finally, Tilray Brands’ (TSX:TLRY, Forum) subsidiary Breckenridge Brewery announced the return of its Go Gold Sweepstakes with Nitro Irish stout, just in time for St. Patrick’s Day.
Breckenridge Brewery has placed 100 special golden cans in its 12-packs of Nitro Irish Stout.
Anyone who finds one of those golden cans can enter the Go Gold Sweepstakes until May 31 by taking a photo of the can and posting it on social media using the hashtag #GoGoldSweepstakes for a chance to win a free trip for two to Ireland.
(Source: Tilray Brands Inc.)
Nitro Irish Stout is a traditional Irish beer with a nitrogen twist. Made with roasted barley and Irish stout malt, this black beer boasts coffee flavour and hints of grain.
Hopefully a change in performance for capital markets on Bay Street and Wall Street in the near future will be cause to celebrate for everyone come St. Patrick’s Day.
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