Regulus Reports Positive Topline Safety, PK Data From Phase 1 SAD Trial Of RGLS8429

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By Shivani Gonzalez

HgCapital H1 Earnings Fall

HgCapital (HGT.L), a software and services investor, on Monday posted a significant decline in earnings for the first half, amidst the impact of current macro-economic and geo-political conditions.

For the six-month to June, the investor posted a net return before taxation of 35.15 million pounds, compared with 286.22 million pounds a year ago.

Post-tax net return was at 35.15 million pounds or 7.70 pence per share against last year’s 286.22 million pounds or 67.56 pence per share of previous fiscal.

Net return before finance costs and taxation stood at 36.62 million pounds, versus 286.85 million pounds, posted for the first-half of 2021.

HGT will deliver an interim dividend of 2.5 pence per share in October, compared with last year’s dividend of 2.0 pence per share.

Eurozone Sentix Investor Confidence Weakest Since 2020

Eurozone investor confidence deteriorated to the lowest in more than two years in September signaling that the recession is deepening, survey results from the behavioral research institute Sentix showed Monday.

The investor confidence index declined to -31.8 in September from -25.2 in August. This was the lowest value since May 2020 and weaker than economists’ forecast of -27.5.

Never before in more than 20 years of history, with the exception of the financial crisis in 2008, have investors’ assessments of the Eurozone economy been so weak, Sentix said.

It is very likely that a significant recessionary trend has already set in, the think tank said.

Among two-components of investor sentiment, the current situation index slid to -26.5, down from -16.3 in August.

The expectations index fell to -37.0 in September from -33.8 a month ago. The index hit its lowest since December 2008, when the financial crisis reached its peak after the bankruptcy of the Lehman Bank.

In Germany, the investor sentiment index plunged to -29.9 in September from -24.4 in the previous month, the survey showed.

The current conditions indicator came in at a 25-month low of -23.5 versus -14.8 in August. There was a further slump in economic expectations in September, with the index falling to a historic low of -36.0 from -33.5 last month.

Mid Wynd International Investment Trust Slips To Loss In FY22; Lifts Dividend

Mid Wynd International Investment Trust plc (MWY.L) reported Monday that its fiscal 2022 net loss before taxation was 38.46 million pounds, compared to last year’s net return of 81.77 million pounds.

The total return for the year was a loss of 62.75 pence per share, compared to profit of 145.44 pence a year ago.

Revenue net return before taxation was 8.20 million pounds or 11.72 pence per share, up from 4.35 million pounds or 6.81 pence per share a year ago.

Losses on investments was 45.02 million pounds, compared to gains of 78.61 million pounds last year.

Further, the Board is proposing a final dividend of 3.70 pence per share and a special dividend of 3.00 pence per share. Subject to approval by shareholders at the Annual General Meeting, these will be paid together on November 4 to those shareholders on the register at the close of business on September 23.

The total dividend, including the special dividend, for the current year of 10.20 pence per share represents an increase of 59.4 percent from last year.

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Hersha Hospitality To Sell Two Of Its West Coast Properties For $125 Mln

Hersha Hospitality Trust (HT), owner of luxury and lifestyle hotels in coastal gateway and resort markets, announced Monday that it has entered into definitive agreements to sell two of its West Coast properties for gross proceeds of $125 million, or approximately $455,000 per key.

Hersha intends to use the proceeds from the sale to pay down approximately $45 million of debt and expects to utilize the remainder for general corporate purposes including, but not limited to, additional debt repayment and dividend payments.

These transactions are subject to customary closing conditions and are expected to close in the fourth quarter of 2022, subject to customary closing conditions.

Optical Cable Corp. Q3 Earnings Summary

Below are the earnings highlights for Optical Cable Corp. (OCC):

Earnings: -$0.37 million in Q3 vs. $5.37 million in the same period last year.
EPS: -$0.05 in Q3 vs. $0.71 in the same period last year.
Revenue: $17.38 million in Q3 vs. $15.63 million in the same period last year.

Regulus Reports Positive Topline Safety, PK Data From Phase 1 SAD Trial Of RGLS8429

Regulus Therapeutics Inc. (RGLS) reported positive topline safety and PK data from the company’s phase 1 Single-Ascending Dose clinical trial of RGLS8429. The phase 1 SAD study showed that RGLS8429 has a favorable safety and PK profile. The company said preliminary results suggest plasma exposure is dose proportional across the four doses tested and compare favorably to the PK data from the first-generation compound, RGLS4326.

Also, the company announced the initiation of phase 1b Multiple Ascending Dose clinical trial of RGLS8429. The MAD study is a double-blind, placebo-controlled study in patients with Autosomal Dominant Polycystic Kidney Disease. The company expects topline data from the first cohort of patients in the first half of 2023.

Shares of Regulus Therapeutics are up 24% in pre-market trade on Monday.

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