Chardan

Chardan is pleased to have acted as a Financial Advisor on Smith Micro Software, Inc.'s $1.5 million Follow-On. Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers around the world. The Company intends to use the proceeds of the registered offering and concurrent private placement for working capital and general corporate purposes. To read more about this transaction visit: https://lnkd.in/efReAxii or reach out to info@chardan.com #ChardanTransactions #software

Chardan is pleased to have acted as the sole placement agent on Bit Origin Ltd’s $500 million equity and debt facilities. Bit Origin is the first publicly listed company on a major US exchange to accumulate Dogecoin as a core asset. Bit Origin expects to become one of the largest publicly traded dogecoin holders and aims to increase dogecoin-per-share for shareholders while exploring miner-facing services, payment applications, and other operations within the dogecoin ecosystem. To read more about this transaction visit: https://lnkd.in/dq8d9gs6 or reach out to info@chardan.com #ChardanTransactions #Dogecoin #crypto #digitalasset

Chardan’s Viral News in Genetic Medicines is a weekly piece detailing key news. In this week’s note: 1) Ultragenyx (unrated) announced it has received a CRL from the FDA for its BLA for UX111, an AAV gene therapy for Sanfilippo Syndrome Type A (MPS IIIA). The FDA requested additional information and improvements related to specific aspects of CMC and observations from the manufacturing facility inspections. The company believes the requests are "readily addressable" and will be working with the FDA to resolve the issues. The CRL delays a potential approval for UX111 to 2026. 2) The Chan Zuckerberg Initiative and the Innovative Genomics Institute announced funding for a new Center for Pediatric CRISPR Cures. The new Center aims to build on the recent gene editing milestone achieved in treating Baby KJ and aims to apply a similar framework to treat children with severe inborn errors of immunity and metabolic diseases. The Center will be funded with a $20 mm grant from the CZI and as an initial goal, aims to treat 8 patients by bringing together the CRISPR-based cure design and testing expertise of the University of California, Berkeley with the clinical treatment expertise of the University of California, San Francisco. 3) JCR Pharmaceuticals (unrated) announced a license agreement with Alexion Pharmaceuticals, Inc. (a subsidiary of unrated AstraZeneca) for its proprietary JUST-AAV capsids. The capsids encompass a range of vectors that include liver-sparing, muscle-targeting and brain-targeting variants, among other tissue specific variants. Alexion may use the licensed capsids in up to 5 genetic medicines programs and JCR is eligible to receive $225 mm in milestone payments related to R&D and up to $600 mm in sales if all 5 targets are exercised, in addition to tiered royalties based on sales. This is the 3rd partnership between Alexion and JCR; the 2 other collaborations are related to JCR's J-Brain Cargo blood-brain barrier penetrating technology for the treatment of a neurodegenerative disease and for the development of novel oligonucleotide therapies. 4) Moderna (Neutral) announced full FDA approval for the COVID-19 vaccine, Spikevax, in children aged 6 months to 11 years old who are at an increased risk of developing COVID-19. The updated vaccine will be available for eligible populations in the U.S. for the 2025-2026 respiratory virus season. To learn more about Chardan research, info@chardan.com. #geneticmedicines.

Chardan is proud to serve as the sole placement agent on the transaction and exclusive financial advisor to Rorschach I LLC in its transformative $888 million business combination with Sonnet BioTherapeutics (SONN), which, at the closing, will be renamed to Hyperliquid Strategics Inc.  Bob Diamond, the former CEO of Barclays and David Schamis, both Co-founders of Atlas Merchant Capital LLC, will be named Chairman of the Board and Chief Executive Officer of Hyperliquid Strategies Inc., a publicly listed crypto treasury company expected to become the largest US-based publicly listed company to hold HYPE in its treasury. To read more about this transaction: https://lnkd.in/e4qbMK3j or reach out to corpaccess@chardan.com #ChardanTransactions #Healthcare #Crypto #HYPE 

On July 9, Sr. Research Analyst, Rudy Li, PhD, hosted Dr. Pavel Klein in a KOL Call titled “Epilepsy Innovations on the Horizon – Emerging Therapies and Key Catalysts.” Key takeaways can be found below. Clients can access the summary note here: https://lnkd.in/e_ihcG3G or reach out to corpaccess@chardan.com for a replay of the call. #KOL #Epilepsy #EmergingTherapies

Chardan Sr. Research Analyst, James McIlree launched coverage on Urgently with a Buy rating and PT of $15. Through its custom-built platform, Urgent.ly manages roadside assistance for motorists. Urgent.ly’s customers include automotive OEMs, fleet owners, insurance companies and ride-hailing services who outsource the provision of roadside assistance. Urgent.ly’s software platform combines location-based services, real-time data, AI and machine-to-machine communication to match service providers in the area with the needs of the customers to minimize response time and maximize service effectiveness. Clients can access reports here: https://lnkd.in/e5JU2fRg or by reaching out to your Chardan sales contact. #ChardanResearch

Chardan’s Viral News in Genetic Medicines is a weekly piece detailing key news. In this week’s note:1)Sangamo Therapeutics, Inc.(unrated) announced topline data from the registrational STAAR trial of ST-920 in Fabry disease. ST-920, a one-time AAV gene therapy delivering a functional GLA gene, demonstrated a positive mean annualized estimated glomerular filtration rate slope of 1.965 mL/min/1.73m^2/year at 52-weeks. Patients reported other clinical benefits which included improvements in quality of life scores at 52 weeks compared to baseline. The FDA had previously agreed that the annualized eGFR slope readout at one year would serve as an intermediate clinical endpoint under the Accelerated Approval pathway. The results of the trial will be the basis of a BLA submission to the FDA in 2026.2)The FDA released 3 safety communications this week: i)approved a required update to the warning labels of mRNA COVID-19 vaccines Comirnaty and Spikevax, to include safety information related to the risks of myocarditis and pericarditis. The requirement for an updated warning label was communicated to Moderna(Neutral) and BioNTech(unrated) in April. The labels must now include information about the estimated unadjusted incidence of myocarditis and/or pericarditis following the '23-'24 formula of the vaccine and the results of a post-approval study co-authored and funded by the FDA. Based on the analysis of commercial health insurance claims data, the estimated unadjusted incidence of myocarditis and/or pericarditis was highest in males 12-24 years old, in this group the incidence rate was roughly 27 cases per million doses.A retrospective study of 333 patients who developed myocarditis following the COVID-19 vaccine found persistent abnormal cardiac MRI findings at 5 months post-vaccination, but the prognostic significance of these findings is unknown.ii)announced an investigation into the risk of acute liver failure following treatment with Sarepta Therapeutics'(unrated) Elevydis after the company announced the death of a second non-ambulatory DMD patient. Both patients presented with elevated transaminases less than two months after treatment with Elevydis and the company has now paused dosing of all non-ambulatory patients. The U.S. prescribing information does include information on the risk of acute liver injury but does not include a warning regarding liver failure or death. The FDA announcement states that it is "evaluating the need for further regulatory action."iii)eliminated the Risk Evaluation and Mitigation Strategy (REMS) requirement for several autologous CAR-Ts, citing greater physician experience with CAR-T toxicities.3)Lexeo Therapeutics(Buy) announced a strategic partnership to spin out an entity developing a non-viral RNA-based therapeutic platform for cardiac diseases. Lexeo will hold a double-digit percentage equity stake in the new company and will be entitled to future milestone payments, royalties and opt-in rights to certain programs.

Chardan is pleased to have acted as Joint Bookrunner on Forte Biosciences, Inc’s Follow On. Forte Biosciences, Inc. is a clinical-stage biopharmaceutical company that is advancing FB102, which is a proprietary anti-CD122 monoclonal antibody therapeutic candidate with potentially broad autoimmune and autoimmune-related indications. To read more about this transaction: https://lnkd.in/ep3t2HEC. #ChardanTransactions #Biotech 

Chardan is pleased to have acted as M&A Advisor and Co-placement Agent to OrthoCellix, a wholly owned subsidiary of Ocugen, in their reverse merger with Carisma Therapeutics. The combined company will focus on the development of OrthoCellix’s NeoCart® technology for the treatment of knee articular cartilage defects and plans to initiate a U.S. Food and Drug Administration (FDA)-endorsed Phase 3 clinical trial for NeoCart®. To learn more about this transaction: https://lnkd.in/gVUdPtM7 or reach out to info@chardan.com.

Chardan is pleased to have acted as sole placement agent to Lion Group Holding Ltd. (LGHL) on their credit facility to support the launch of its HYPE Treasury and on-chain initiative. Lion Group Holding Ltd. operates an all-in-one, state-of-the-art trading platform that offers a wide spectrum of products and services, including (i) total return swap (TRS) trading, (ii) contract-for-difference (CFD) trading, (iii) Over-the-counter (OTC) stock options trading, and (iv) futures and securities brokerage.  #ChardanTransactions #HYPE #Blockchain