Market Signal Briefing

Plasma founder Paul Faecks has pushed back against claims of insider selling after the project's native token, XPL, lost over half its value within days.

TL;DR

Token assurance: CEO Paul Faecks dismissed insider sale rumors and confirmed that all team and investor XPL tokens remain locked for three years with a one-year cliff to prevent early liquidations.
Market rebound: Following his clarifications, XPL jumped nearly 15% before stabilizing at a 5.6% gain, showing how leadership communication directly influenced investor confidence despite lingering transparency concerns.
Adoption growth: Plasma has processed over 2 million transactions and attracts 5,000 new users daily, with analysts comparing its trajectory to Tron’s stablecoin-focused expansion.

Plasma’s native token XPL rebounded after CEO Paul Faecks directly addressed community concerns over alleged insider sales and team affiliations. His clarifications and strong adoption metrics helped stabilize sentiment following weeks of volatility. While skepticism persists, the project’s growth trajectory suggests resilience in the face of controversy.

We’ve seen a number of rumors circulating since the launch of XPL and want to set the record straight.

1/ No team members have sold any XPL. All investor and team XPL is locked for 3 years with a 1 year cliff.

2/ Of our team of ~50, three spent time at Blur or Blast. Our team…

— Paul (@pauliepunt) October 1, 2025

Founder Denies Token Sale Allegations
Paul Faecks firmly rejected claims that Plasma insiders had sold tokens. He confirmed that all team and investor holdings are locked for three years with a one-year cliff, preventing any premature liquidations. This assurance came after speculation tied Plasma to controversial projects and alleged undisclosed sales. Faecks emphasized that the project’s focus remains on building a stablecoin-focused Layer-1 blockchain, not on short-term token speculation.

Team Composition and Market Maker Rumors
The CEO also countered narratives portraying Plasma as an “ex-Blast” project. Out of approximately 50 team members, only three previously worked at Blur or Blast. The broader team includes professionals from Google, Facebook, Square, Temasek, Goldman Sachs, and Nuvei, underscoring its diverse expertise. Additionally, Faecks denied any partnership with market maker Wintermute, clarifying that Plasma has no service contracts and only public information on Wintermute’s XPL holdings.

Market Reaction and Price Performance
Following Faecks’ statements, XPL surged nearly 15%, climbing from $0.88 to $1.01 before dropping nearly 6% and settling at $0.98. The rebound reflected renewed confidence among investors, though analysts continued to question transparency around ecosystem and growth fund allocations. Some observers suggested that proving on-chain fund movements could further strengthen trust. Despite lingering doubts, the immediate market response highlighted the impact of leadership communication on token performance.

Adoption Growth Amid Skepticism
Beyond price action, Plasma’s adoption metrics remain robust. The network has processed more than 2 million transactions since launch, with 1.4 million occurring in a single 12-hour window. Data from Dune Analytics shows around 5,000 new users joining daily, representing over 70% of daily active users. This steady growth suggests that user interest is outpacing negative sentiment. Analysts have even compared Plasma’s trajectory to Tron, highlighting its potential to capture a significant share of stablecoin payments if momentum continues.

Journalist

Posted: October 2, 2025

Key Takeaways 
Why did Zcash rally this week?
Zcash more than doubled after Naval Ravikant endorsed it as “insurance against Bitcoin.”

Will the uptrend continue? 
It can if the financial privacy narrative continues. In the meantime, there could be a temporary cool-off. 

On the 1st of October, Zcash [ZEC] exploded 62% and added an extra +20% at press time. Overall, the privacy-focused coin more than doubled this week.

It surged from $53 to a three-year high of $154.4 on the Binance exchange as of press time.  

Source: ZEC/USDT, TradingView

The explosive upswing was triggered by shilling from renowned investor Naval Ravikant. He called it an “insurance against Bitcoin” amid an aggressive push for CBDCs (Central Bank Digital Currencies) in most countries. 

He said, 

“Bitcoin [BTC] is insurance against fiat. ZCash is insurance against Bitcoin.”

Ravikant added that even Satoshi can’t use Bitcoin because of surveillance.

Source: X

But that changes with Zcash. ZCash was created from the Bitcoin code base but encrypts transaction information for users to shield their assets. 

Apart from the financial privacy narrative, the recent technical upgrades also fueled the explosive run. The next network upgrade (NU7) seeks quantum-proof and faster transactions. 

Other privacy coins like Monero [XMR] also pumped, but not as hard as Zcash. But the froth in the Futures market could be a warning sign of a potential cool-off. 

Is Zcash’s pullback likely?
According to CryptoQuant’s Futures Volume Bubble Map metric, Zcash was in an “overheating” phase. The reading is always associated with the late stage of an uptrend, or the beginning of a distribution. 

A similar “overheating” reading coincided with local tops in 2024. The upswing could enter a cool-off or local top if past trends hold. 

Source: CryptoQuant

Exchange flows turn red
The wave of Exchange Netflow also reinforced that some players were actively booking profits after the 2x run.

CoinGlass data showed about $21 million in Exchange Netflow, indicating more sell-off than accumulation this week. 

Source: CoinGlass

Historically, Weekly Exchange Netflows of $20-$30 million marked past local and cycle tops. In short, late bulls jumping on the rally could easily be burnt if the profit-taking increases from here. 

However, a pullback to around $100 could become a buying opportunity in case of an extended rally after the cool-off. 

Football memes X account Troll Football drew mixed reactions when it launched its first digital asset, a Solana-based token called FOOTBALL, through memecoin launchpad Pump.fun on Wednesday.

Troll Football is one of the most recognized meme pages in global football culture, with more than 4.8 million followers on X. The account claims over 100 million impressions per month and 2 billion total views in 2025.

Many tokens launched on Pump.fun often start anonymously or with little community backing, but observers have noted that FOOTBALL has a major meme brand behind it. 

The launch is the first step of the project’s four-part roadmap that promises collaborations with professional players, brand tie-ins, and more additions from football culture.

FOOTBALL has community backing, project team says
According to its website, FOOTBALL takes the passion of football fandom to crypto markets as a sports-focused memecoin supported by an already-established global community.

Trading data from DEXScreener shows FOOTBALL surged after its launch, climbing to an early high of $0.0021. However, the token quickly retraced, falling back to around $0.00162 as of Thursday morning trading. The drop is approximately 22% from its peak price on the same day.

At press time, the token has a fully diluted valuation (FDV) of $1.6 million and a market capitalization of $1.6 million, with reported liquidity of around $167,000. Trading activity has recorded over 76,000 transactions and over $2 million in volume since it debuted.

Despite the price retracement in the last half hour, FOOTBALL has recorded a 438% increase in the past 24 hours, according to market tracking data, as early speculators moved in on the launch.

Troll Football outlines roadmap, but reception has been negative 
Troll Football may have attempted to present FOOTBALL as a fan-driven token with mass appeal, but social media reactions have been largely on the negative side. Under the project’s announcement post on X, several users accused the account of being compromised or running a potential “rug pull.”

“You’re promoting a scam. I know they paid you,” one user wrote in a comment. Many others shared similar sentiments.

Concerns about scams have grown on Pump.fun, as the platform’s popularity has invited both genuine community-driven tokens and bad actors looking to exploit its ease of use.

Away from the backlash, Troll Football’s published roadmap shows the second phase after launch will see the project form partnerships with professional footballers and online personalities.

The third and last phase seeks to expand FOOTBALL into having more football culture through collaborations and global campaigns, leading the sports memecoin to top charts on the Solana network.

Pump.fun’s good and bad memecoin relationship
In a report released Wednesday, Galaxy Digital analyst Will Owens wrote that meme coins are now more than the Dogecoin internet jokes and have become a “cultural and economic force.”

Galaxy’s report stated that one of the reasons the market has witnessed this growth is because of Pump.fun, the Solana-based launchpad that allows anyone to create a token in minutes. Owens noted that the platform has “turbocharged activity in 2025,” contributing to record fee generation on the Solana network.

Commonly dubbed a “memecoin factory,” Pump.fun tools make token creation simple, fast, and inexpensive. But researchers and naysayers are bashing many tokens created on Pump.fun, saying most of them are offensive or extremist themes. 

Of the top 15 trending tokens on DEXScreener this week, at least four referenced racial slurs or skin color.

Top ranking coins on Pump.fun. Source: DEXScreener

Earlier this year, “Elon Hitler” and “Adolf Musk” tokens appeared merely hours after Tesla CEO Elon Musk’s salute during Donald Trump’s presidential inauguration. Netizens widely interpreted the name as a reference to the fascist symbolism of the Nazis.

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TLDR:

Dogecoin price sits above $0.25, holding a higher low trend since April, according to Daan Crypto Trades.
Analysts point to $0.39 and $0.43 as major resistance levels that could trigger the next DOGE rally.
DOGE remains above its 200-day EMA and MA, showing bulls are defending long-term trend support on the chart.
CoinGecko data shows DOGE up 6.85% in 24 hours and 11.3% in 7 days, signaling growing market momentum.

Dogecoin is keeping traders on edge after holding above a key support level, maintaining its higher low structure. The popular meme coin has been moving steadily upward since April, despite a choppy trading pattern. 

Analysts say the current structure shows strength if it continues to hold its base. The next move could depend on whether the token clears its overhead resistance levels. With trading volumes rising, all eyes remain on DOGE’s next breakout attempt.

According to trader Daan Crypto Trades, Dogecoin has been forming higher lows on the chart, similar to larger cryptocurrencies.

$DOGE Held where it should have and put in a higher low just like most majors.

Like said previously, it's been a choppy trend up since the April lows but some of these coins are shaping up nicely.

Just needs to maintain those higher lows and higher highs, and a larger move will… https://t.co/XvuLlvHlXW pic.twitter.com/NFtssPsibA

— Daan Crypto Trades (@DaanCrypto) October 2, 2025

He pointed out that the price action since April has been choppy but tilted upward. The coin’s resilience around support has given bulls reason to stay engaged.

The chart shows DOGE trading near $0.2572, supported by the 200-day moving averages. The $0.22 level has been an important floor that price has respected multiple times. Traders see this as a healthy base for further upward movement.

Stronger support sits deeper near $0.142, a level that marked historical rebounds. Analysts say if DOGE revisits this zone, it would need to maintain its higher low formation. A breakdown could challenge the bullish pattern. For now, bulls appear in control above the moving averages.

CoinGecko data confirms the current upward momentum. At press time, DOGE trades at $0.2585, up 6.85% in 24 hours. Over the past seven days, the coin has gained 11.3%, reflecting strong near-term demand.

Dogecoin price on CoinGecko
DOGE Price Eyes Resistance at $0.39 and $0.43
The resistance levels at $0.3968 and $0.4348 are seen as the main barriers to the next move. These zones have stopped rallies in the past, creating areas of interest for traders. Clearing them could open the way to larger gains.

Daan Crypto Trades noted that the trend remains constructive as long as higher lows and higher highs continue. 

He explained that the price structure suggests a larger move will eventually occur if DOGE holds its path. The pattern shows that bulls are defending key zones while waiting for momentum to expand.

Technical indicators continue to lean in favor of the buyers. Both the 200-day EMA and MA are sloping upward, signaling an intact bullish trend. As long as price stays above these averages, traders expect the structure to remain supportive.

Market watchers now focus on whether Dogecoin can generate enough strength to break through resistance. A breakout above $0.43 could change the near-term outlook and confirm a stronger rally. Until then, the coin is consolidating within its upward structure.

NewsPricesDataIndicesResearchConsensusSponsoredSign InSign UpYour day-ahead look for Oct. 2, 2025 Oct 2, 2025, 11:15 a.m.

Bitcoin is enterning one of its 'most dynamic months' (Midjourney/Modified by CoinDesk)

What to know: You are viewing Crypto Daybook Americas, your morning briefing on what happened in the crypto markets overnight and what's expected during the coming day. Crypto Daybook Americas will arrive in your inbox early morning to kickstart your day with comprehensive insights. If you're not already subscribed, click here. You won't want to start your day without it.

By Francisco Rodrigues (All times ET unless indicated otherwise)

Crypto markets are continuing their rise this week after weaker-than-expected U.S. labor data and amid a government shutdown that saw the market adopt the stance that a Federal Reserve rate cut next month is a near certainty.

STORY CONTINUES BELOW

Bitcoin climbed an additional 2.15% in the last 24-hour period to $118,700, while the broader market, as measured by the CoinDesk 20 (CD20) index, rose 2.33% in the same period. The rally came despite, or because of, rising uncertainty in traditional markets.

The spark came from an unexpected drop in U.S. private payrolls. ADP data showed a 32,000 job decline in September, against forecasts for a 50,000 gain. With the government shutdown halting official labor data, traders are forced to lean on this miss for insights, leading to increased rate cut bets.

Data from Polymarket now shows traders weigh a 91% chance the Fed will cut rates by 25 bps later this month, while on the CME’s FedWatch tool, odds of such a rate cut stand at 99%.

“Markets appear to have responded with relative stability in the first 24 hours following the U.S. government shutdown,” Philipp Zentner, CEO and founder of LIFI Protocol, told CoinDesk. “It’s worth noting that during the last major shutdown in 2018–2019, which lasted 35 days, markets remained largely resilient, and we may see similar dynamics this time.”

That stability, coupled with a dovish macroeconomic environment, bodes well for risk assets like cryptocurrencies.

Derivatives markets also reflect this shift, with open interest rising nearly 4% to $216 billion according to CoinGlass data. Similarly, spot crypto ETFs have seen more than $2.3 billion in net inflows since the beginning of the week, according to SoSoValue.

Still, some warn of structural risks. “Strategies that rely on stock premiums to buy bitcoin are hitting limits,” Justin Wang, co-founder of Zeus Network, told CoinDesk. “Sustainable institutional Bitcoin adoption requires infrastructure that doesn't depend on market sentiment and stock premiums.”

As the shutdown drags on and economic signals grow murkier, investors appear to be turning toward alternative assets like gold and crypto. Speaking to CoinDesk, XYO co-founder Markus Levin pointed out BTC’s price structure is “showing a classic Elliott Wave completion within a rising wedge, a pattern that often signals consolidation before a decisive move.”

“Institutional flows and derivatives activity will be critical in determining whether this setup resolves with new highs or a deeper retracement. Either way, we’re entering one of Bitcoin’s historically most dynamic months, and market participants should be prepared for volatility,” he said.

Stay alert!

What to WatchFor a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead" note.

CryptoNothing scheduled.MacroOct. 2, 8:30 a.m.: U.S. Jobless Claims initial (for week ended Sept. 27) Est. 223K, continuing (for week ended Sept. 20) Est. 1930K. The report has been delayed due to a federal government shutdown.Earnings (Estimates based on FactSet data)Nothing scheduled.Token EventsFor a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Governance votes & callsENS DAO is voting to reimburse the eth.limo team 109,818.82 USDC from the treasury. These funds are to cover legal fees for operating their public gateway. Voting ends Oct. 2.Arbitrum DAO is voting to transfer 8,500 idle ETH to its treasury team to earn yield and support the ecosystem. The move is expected to generate ~204 ETH annually. Voting ends Oct. 2.Gitcoin DAO is holding a re-vote to approve a revised $1,175,000 matching fund and updated grant categories for its upcoming Grants Round 24 (GG24). Voting ends Oct. 2.UnlocksOct. 2: ENA$0.6258 to unlock 0.62% of its circulating supply worth $23.65 million.Token LaunchesOct. 2: DoubleZero (2Z) to be listed on Binance Alpha, Coinone, Kraken, Bithumb, OKX, and others.ConferencesFor a more comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead".

Day 2 of 2: Northern FinTech Summit 2025 (London)Day 2 of 2: TOKEN2049 SingaporeOct. 2: Stablecoin Summit 2025 (Singapore)Day 1 of 3: Lightning Plus Plus BerlinToken TalkBy Oliver Knight

Plasma founder Paulie Punt has refuted claims that the recently issued XPL token had been sold by team members, despite on-chain data suggesting the contrary.Paul stated that no members of the Plasma team have sold their XPL holdings since launch. According to him, all investor and team allocations are subject to a three-year lock-up with a one-year cliff, meaning they cannot be accessed or sold within that timeframe. He emphasized that the circulating claims of insider unloading were unfounded.The Plasma founder also pushed back against characterizations that the team was primarily made up of “ex-Blast” employees. Of the roughly 50 team members, only three had prior stints at Blur or Blast, he said. He noted that the group also includes professionals with backgrounds at Google, Facebook, Square, Temasek, Goldman Sachs, and Nuvei, underscoring the project’s broader pedigree.Another point of contention has been Wintermute, a well-known crypto trading firm often engaged as a market maker for new projects. Paul denied that Plasma had a contract with Wintermute for market-making or other services, saying the company has no more information about Wintermute’s XPL holdings than the public.Pseudonymous researcher ManaMoon had initially claimed that over 600 million XPL tokens have been transferred from the project’s vault to exchanges since launch.XPL has performed relatively poorly since launch, sliding from a high of $1.68 to $0.97 while daily trading volume has remained steady at $2.6 billion.Derivatives PositioningThe BTC futures market is showing a strong and sustained bullish trend, with key metrics reaching new highs. Open interest has climbed to an all-time high of $32.6 billion, reflecting a significant increase in trader exposure, with Binance leading the way at $13.6 billion. This record-high interest is supported by a stable 3-month annualized basis, which has settled around 7%, indicating that the basis trade remains profitable and reinforcing the positive market sentiment. The combination of these two metrics suggests that recent price action is being driven by strong, conviction-based bullish positioning rather than short-term speculation.The BTC options market is presenting a complex and contradictory picture of sentiment. While the 25 Delta Skew for short-term options continues its downward trend, now at just 3.25%, suggesting that traders are willing to pay a premium for puts to hedge against downside risk, the 24-hour Put/Call Volume tells a different story. Calls are still dominating the volume at over 56%, indicating that a majority of traders are actively positioning for a rally rather than a decline. Meanwhile, BTC's funding rate on major exchanges is hovering between an annualized 9% to 10%, indicating healthy demand for leveraged long positions.However, a significant outlier is Deribit, where the funding rate has spiked dramatically to over 60%. This isolated but extreme spike suggests intense, concentrated demand for long positions on that platform, but the overall market, including altcoins, does not yet appear to be overheated with average funding for top 30 coins by market capitalization at around 10% annualized, as per Coinglass.Market MovementsBTC is up 1.12% from 4 p.m. ET Wednesday at $118,927.57 (24hrs: +2.23%)ETH is up 1.27% at $4,392.20 (24hrs: +2.59%)CoinDesk 20 is up 1.49% at 4,232.18 (24hrs: +2.41%)Ether CESR Composite Staking Rate is unchanged at 2.87%BTC funding rate is at 0.0135% (14.7825% annualized) on KuCoinDXY is down 0.18% at 97.53Gold futures are up 0.12% at $3,902.00Silver futures are down 0.2% at $47.58Nikkei 225 closed up 0.87% at 44,936.73Hang Seng closed up 1.61% at 27,287.12FTSE is unchanged at 9,449.86Euro Stoxx 50 is up 1.30% at 5,653.99DJIA closed on Wednesday unchanged at 46,441.10S&P 500 closed up 0.34% at 6,711.20Nasdaq Composite closed up 0.42% at 22,755.16S&P/TSX Composite closed up 0.28% at 30,107.67S&P 40 Latin America closed down 1.55% at 2,905.87U.S. 10-Year Treasury rate is down 1.2 bps at 4.094%E-mini S&P 500 futures are unchanged at 6,766.50E-mini Nasdaq-100 futures are up 0.25% at 25,081.00E-mini Dow Jones Industrial Average Index are down 0.11% at 46,672.00Bitcoin StatsBTC Dominance: 58.84% (-0.36%)Ether to bitcoin ratio: 0.03691 (0.63%)Hashrate (seven-day moving average): 1,059 EH/sHashprice (spot): $49.91Total Fees: 3.63 BTC / $423,349CME Futures Open Interest: 137,820 BTCBTC priced in gold: 30.6 ozBTC vs gold market cap: 8.66%Technical AnalysisYesterday’s move saw bitcoin break past the bearish order block on the daily, now trading at $118,675. The daily close signals a shift in market structure, favouring the bulls. A retest of the order block — flipping it from resistance into support — would be a healthy retracement that could allow Bitcoin to test the all-time highs again. Bulls will want to see bitcoin establish acceptance above the order block.Crypto EquitiesCoinbase Global (COIN): closed on Wednesday at $346.17 (+2.57%), +2% at $353.11 in pre-marketCircle Internet (CRCL): closed at $129.03 (-2.68%), +3% at $132.90Galaxy Digital (GLXY): closed at $35.83 (+5.97%), +2.99% at $36.90Bullish (BLSH): closed at $60.81 (-4.4%), +2.22% at $62.16MARA Holdings (MARA): closed at $18.61 (+1.92%), +2.47% at $19.07Riot Platforms (RIOT): closed at $18.93 (-0.53%), +1.74% at $19.26Core Scientific (CORZ): closed at $17.97 (+0.17%), +1.22% at $18.19CleanSpark (CLSK): closed at $14.59 (+0.62%), +1.71% at $14.84CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $45.07 (+1.88%)Exodus Movement (EXOD): closed at $28.31 (+1.91%), +0.11% at $28.34Crypto Treasury CompaniesStrategy (MSTR): closed at $338.41 (+5.03%), +2.29% at $346.15Semler Scientific (SMLR): closed at $31.03 (+3.43%)SharpLink Gaming (SBET): closed at $17.37 (+2.12%), +1.78% at $17.68Upexi (UPXI): closed at $6.53 (+13.17%), +2.6% at $6.70Lite Strategy (LITS): closed at $2.56 (+5.79%), +5.47% at $2.70ETF FlowsSpot BTC ETFs

Daily net flow: $675.8 millionCumulative net flows: $58.4 billionTotal BTC holdings ~ 1.32 millionSpot ETH ETFs

Daily net flow: $80.9 millionCumulative net flows: $13.9 billionTotal ETH holdings ~ 6.61 millionSource: Farside Investors

While You Were SleepingBitcoin Surges Above $119K as U.S. Government Shutdown Takes Effect; BTC Options Look Cheap (CoinDesk): A delayed jobs report from the shutdown could push the Fed toward deeper cuts, and a 21Shares strategist says bitcoin's recent gains suggest an explosive rally could be in the cards.U.S. to Provide Ukraine With Intelligence for Missile Strikes Deep Inside Russia (The Wall Street Journal): Trump has authorized U.S. intelligence agencies and the War Department for the first time to provide Ukraine with targeting data for long-range missile strikes on Russian energy facilities.'Tokenization is Going to Eat the Entire Financial System' Says Robinhood CEO (CoinDdesk): Robinhood is expanding tokenized stocks in Europe and eyeing real estate next. CEO Vlad Tenev says the U.S. needs to catch up with Europe in digital asset regulation.Thailand Crypto ETF Push Expands Beyond Bitcoin, Regulator Says (Bloomberg): Thailand’s Securities and Exchange Commission is drafting rules to let mutual funds offer ETFs tied to baskets of cryptocurrencies, aiming to attract younger investors amid a sluggish equity market.More For You

'Uptober' Begins with Bitcoin, Gold Rising: Crypto Daybook Americas

Oct 1, 2025

Your day-ahead look for Oct. 1, 2025

What to know:

You are viewing Crypto Daybook Americas, your morning briefing on what happened in the crypto markets overnight and what's expected during the coming day. Crypto Daybook Americas will arrive in your inbox at 7 a.m. ET to kickstart your morning with comprehensive insights. If you're not already subscribed, click here. You won't want to start your day without it.

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Top Stories

TL;DR

Circle has deployed its tokenized U.S. Treasury fund USYC on Solana, offering institutional investors high-speed access to regulated yield-bearing assets.
The tokenized Treasuries market has surpassed $7.5 billion in size, becoming one of the fastest-growing segments within blockchain finance.
USYC’s real-time convertibility into USDC positions Solana as a preferred venue for capital-efficient collateral strategies.

Circle is reinforcing its strategy of merging regulatory compliance with open financial infrastructure. USYC represents tokenized shares in a short-duration U.S. government money market fund designed exclusively for verified institutional participants. The expansion to Solana adds another high-performance network alongside existing deployments on Ethereum, Near, Base and Canton, with further integrations planned. Unlike retail-focused digital assets, USYC is structured for professional capital managers seeking automated settlement without sacrificing oversight.

Solana’s appeal lies in its ability to process thousands of transactions per second with negligible fees, making it ideal for financial operations that demand speed. The addition of USYC enables advanced mechanisms such as collateralized lending against Treasuries or derivatives margining backed by sovereign debt instruments. Several DeFi lending platforms are already evaluating USYC as a reference asset for liquidity vaults and structured credit markets.

Institutional Capital Gains Programmable Yield
The rise of tokenized Treasuries signals a clear shift toward real-world assets operated through blockchain rails. Hedge funds, corporate treasuries and liquidity desks are exploring tokenized yield products not as experiments but as operational tools. USYC serves as a connective layer between traditional securities and automated strategies executed through smart contracts, reducing reliance on intermediaries and settlement inefficiencies.

The permissioned nature of USYC does introduce requirements for wallet screening and eligibility enforcement. However, rather than limiting adoption, this structure offers legal clarity that many institutions demand before entering decentralized markets. The fact that protocols are willing to implement access controls suggests that efficiency and compliance can coexist.

Solana Emerges As A Base Layer For Regulated Yield
The integration also strengthens the position of USDC as transactional currency within professional financing strategies. Combining stablecoins with tokenized government securities enables structured leverage and liquidity cycling at institutional scale. Solana’s throughput and reliability make it a practical environment for automated treasury management executed entirely on-chain.

If adoption maintains its current pace, tokenized Treasuries could become the first category of traditional assets to achieve full native integration within decentralized financial infrastructure. Circle is positioning itself at the center of that transition, betting that regulated yield instruments will define the next evolution of blockchain-based capital markets.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

CHICAGO--(BUSINESS WIRE)--NIQ, a leading consumer intelligence company, today announced the launch of its data clean room on Snowflake, designed to enable both data enrichment and outcome measurement for leading marketers worldwide. This marks NIQ’s first data clean room dedicated to supporting these critical use cases for marketers, media owners, retail media networks, and ad tech platforms.

Through secure collaboration via the Snowflake clean room, marketers can enrich their proprietary first-party data with NIQ’s privacy-compliant consumer signals to drive audience discovery, segmentation, scoring, and campaign activation — all within a secure environment that protects consumer data and upholds global privacy standards.

“Advertisers are sitting on a wealth of first-party data, but unlocking its full potential requires the right consumer signals and data collaboration solutions,” said Lana Busignani, General Manager at NIQ. “By enriching their data with NIQ’s deep consumer insights in a secure environment, marketers can uncover high-value audiences, sharpen segmentation, and activate campaigns with greater precision. Just as importantly, they can now measure the real-world impact of those campaigns by connecting media investments to meaningful outcomes. We are thrilled to collaborate with Snowflake, who is already a strategic partner to most global advertisers and media companies, to help clients improve the quality and value of their first-party data to drive better outcomes.”

In addition to enrichment, the clean room also supports outcome measurement, leveraging NIQ’s retail insights to help advertisers and media owners assess campaign impact. This allows marketers to tie media investments to real-world outcomes, accelerating the industry’s shift toward outcome-based planning and optimization. By operating in clean rooms, both NIQ and Snowflake help customers ensure privacy is maintained, data is auditable, and measurement data leaves the clean room according to approved aggregation rules.

The collaboration underscores both companies’ commitment to innovation, consumer privacy, and measurable marketing outcomes in a rapidly evolving media landscape. “We are proud to play a strategic role in the evolution of advertising measurement with NIQ, whose unique data assets and solutions make this possible,” said Dennis Buchheim, Global Head of Media, Entertainment, Advertising & Marketing Technology at Snowflake. “Together, we’re enabling marketers to make smarter, data-driven decisions with confidence, all while prioritizing consumer privacy.”

About NIQ

NIQ is a leading consumer intelligence company, delivering the most complete understanding of consumer buying behavior and revealing new pathways to growth. Our global reach spans over 90 countries covering approximately 85% of the world’s population and more than $7.2 trillion in global consumer spend. With a holistic retail read and the most comprehensive consumer insights—delivered with advanced analytics through state-of-the-art platforms—NIQ delivers the Full View™. For more information, please visit www.niq.com.

For more information, please visit www.niq.com

© 2025 Nielsen Consumer LLC. All Rights Reserved.

NIQ-GENERAL

LATHAM, N.Y.--(BUSINESS WIRE)--AngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system, expanding cancer treatment options, and improving quality of life for patients, today announced financial results for the first quarter of fiscal year 2026, which ended August 31, 2025.

Fiscal Year 2026 First Quarter Highlights

Quarter Ended

August 31, 2025

Pro Forma* YoY Growth

Net Sales

$75.7 million

12.2%

Med Tech Net Sales

$35.3 million

26.1%

Med Device Net Sales

$40.4 million

2.3%

GAAP gross margin of 55.3%

GAAP loss per share of $0.26

Adjusted loss per share of $0.10

Adjusted EBITDA of $2.2 million

Ended fiscal 2026 first quarter with $38.8 million in cash and cash equivalents, ahead of expectations, continues to expect to be cash flow positive for the full year FY 2026

First patients enrolled in both the AMBITION BTK and RECOVER-AV trials

NanoKnife PRESERVE study published in the journal of European Urology

*Pro forma results exclude the Dialysis and BioSentry businesses divested in June 2023 and the PICC, Midline and tip location product portfolios divested in February 2024, as well as the discontinued Radiofrequency and Syntrax support catheter products in February 2024.

“We had an outstanding first quarter as we continued to build off of the strong momentum created in fiscal 2025,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “Our strategy to bring unique platform technologies to large, fast growing global markets has paid off as we reported our fourth quarter in a row of MedTech growth of over 20%. This continued performance, combined with our disciplined focus on operational excellence, is driving sustained profitable growth.”

Mr. Clemmer continued, “Our exceptional team is executing our vision to deliver transformative technologies that expand treatment options and help patients live healthier, happier lives. With our superior technologies supported by our clinical investments and the strength of our balance sheet, we remain well-positioned to drive consistent, profitable growth, and deliver sustained value creation during the balance of 2026 and beyond.”

Fiscal Year 2026 First Quarter Financial Results

Unless otherwise noted, all financial comparisons below are presented on a pro forma basis excluding the Dialysis and BioSentry businesses divested in June 2023, the PICC, Midline, and tip location product portfolios divested in February 2024, and the RadioFrequency and Syntrax support catheter products discontinued in February 2024.

Net sales for the first quarter of fiscal year 2026 were $75.7 million, an increase of 12.2% compared to the prior-year quarter.

Med Tech net sales were $35.3 million, a 26.1% increase from $28.0 million in the prior-year period. Med Tech includes the Auryon peripheral atherectomy platform, the thrombus management platform and the NanoKnife irreversible electroporation platform.

Growth during the quarter was driven by solid performance across the Med Tech segment. Auryon sales were $16.5 million an increase of 20.1%, our Mechanical Thrombectomy business, which includes AngioVac and AlphaVac, delivered sales of $11.3 million, an increase of 41.2%, and NanoKnife sales were $6.4 million, an increase of 26.7%, including 31.3% growth in probes.

Med Device net sales were $40.4 million, a 2.3% increase compared to $39.5 million in the prior-year period.

Gross margin for the first quarter of fiscal 2026 was 55.3%, which was 90 basis points higher compared to the first quarter of fiscal 2025, and 260 basis points higher sequentially from 52.7% in the fourth quarter of fiscal 2025, primarily due to increased Med Tech revenue, as well as operational efficiencies. Gross margin included $1.7 million of tariff expense.

The Company recorded a GAAP net loss of $10.9 million, or a loss per share of $0.26, in the first quarter of fiscal 2026. Excluding the items shown in the non-GAAP reconciliation table below, adjusted net loss for the first quarter of fiscal 2026 was $4.2 million, or a loss per share of $0.10. This compares to an adjusted net loss during the fiscal first quarter of 2025 of $4.4 million, or a loss per share of $0.11.

Adjusted EBITDA in the first quarter of fiscal 2026, excluding the items shown in the non-GAAP reconciliation table below, was $2.2 million, compared to $(0.2) million in the first quarter of fiscal 2025.

In the first quarter of fiscal 2026, the Company used $17.1 million of cash. The Company’s first fiscal quarter has historically exhibited the highest utilization of cash during the year, and the first quarter of fiscal 2026 was better than the Company’s expectations, resulting in the use of less cash than expected. The Company continues to expect to be cash flow positive for the full year fiscal 2026.

At August 31, 2025, the Company had $38.8 million in cash and cash equivalents compared to $55.9 million in cash and cash equivalents at May 31, 2025. The Company maintains a debt-free balance sheet.

First Patient Enrolled in AMBITION BTK Trial

During the quarter, the Company announced that it achieved a significant clinical milestone with the enrollment of the first patient in the AMBITION BTK trial, a prospective, multicenter, randomized controlled trial designed to investigate the clinical safety and effectiveness of the Auryon Atherectomy System in treating challenging below-the-knee lesions in patients with Critical Limb Ischemia. The trial will include up to 224 patients at up to 30 sites, with a companion registry enrolling up to 1,500 additional patients, representing the Company's continued commitment to advancing clinical evidence for the treatment of peripheral artery disease and expanding the clinical applications for the Auryon platform.

First Patient Enrolled in RECOVER-AV Clinical Trial

During the quarter, the Company announced the first patient enrollment in the RECOVER-AV clinical trial, a prospective, multi-center, multi-national, single-arm study evaluating the AlphaVac F1885 System for the treatment of acute, intermediate-risk pulmonary embolism. The study builds on the existing U.S. FDA 510(k) clearance and European CE Mark approval to assess mechanical thrombectomy treatment and long-term functional outcomes in intermediate-risk PE patients across Europe, Canada, and Hong Kong. The trial will enroll patients at up to 20 hospital-based sites and follows patients for 12 months, with functional and quality-of-life outcomes assessed at 30 days and 12 months, representing the Company's continued commitment to expanding its global clinical presence and generating evidence-based data to support broader access to life-saving PE treatment.

NanoKnife PRESERVE Study Results Published in Leading European Journal

During the quarter, the Company announced the publication of results from the PRESERVE study in European Urology, a leading journal in urologic research. The study assessed the safety and effectiveness of irreversible electroporation with the NanoKnife System to ablate prostate tissue in patients with intermediate-risk prostate cancer. The PRESERVE clinical study met its primary effectiveness endpoint, with 84.0% of men free from in-field, clinically significant disease at 12 months post-procedure. The study also demonstrated strong quality-of-life outcomes, with urinary continence largely preserved (97% at baseline vs. 96% at 12 months) and 84% of patients with good baseline sexual function at 12 months, reinforcing the NanoKnife System's role in providing effective treatment while preserving quality of life.

Fiscal Year 2026 Financial Guidance

For fiscal year 2026 the company now expects:

Guidance Metric

Guidance Action

Current Guidance

(as of October 2, 2025)

Previous Guidance

(as of July 15, 2025)

Net Sales

Increased

$308 - $313 million

$305 - $310 million

Med Tech Net Sales Growth

Increased

14% - 16%

12% - 15%

Med Device Net Sales Growth

Unchanged

Flat

Flat

Gross Margin

Unchanged

53.5% - 55.5%

53.5% - 55.5%

Adjusted EBITDA

Increased

$6.0 - $10.0 million

$3.0 - $8.0 million

Adjusted EPS

Increased

($0.33) – ($0.23)

($0.35) – ($0.25)

Free Cash Flow

Unchanged

Positive for full year FY 2026

Positive for full year FY 2026

Tariff Related Guidance Assumptions

For the full fiscal year 2026, the company continues to expect a $4.0 - $6.0 million impact from tariffs, which are included in the above provided guidance.

All assumptions made related to expected tariff impacts are based on the Company’s point of view on the current tariff situation, as of October 2, 2025. As the situation is fluid, these assumptions may change in the future.

Conference Call

The Company’s management will host a conference call at 8:00 a.m. ET the same day to discuss the results. To participate in the conference call, dial 1-877-407-0784 (domestic) or +1-201-689-8560 (international). This conference call will also be webcast and can be accessed from the “Investors” section of the AngioDynamics website at www.angiodynamics.com. The webcast replay of the call will be available at the same site approximately one hour after the end of the call.

A recording of the call will also be available, until Thursday, October 09, 2025 at 11:59 PM ET. To hear this recording, dial 1-844-512-2921 (domestic) or +1-412-317-6671 (international) and enter the passcode 13755707.

Use of Non-GAAP Measures

Management uses non-GAAP measures to establish operational goals and believes that non-GAAP measures may assist investors in analyzing the underlying trends in AngioDynamics' business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this news release, AngioDynamics has reported pro forma results, adjusted EBITDA, adjusted net income and adjusted earnings per share. Management uses these measures in its internal analysis and review of operational performance. Management believes that these measures provide investors with useful information in comparing AngioDynamics' performance over different periods. By using these non-GAAP measures, management believes that investors get a better picture of the performance of AngioDynamics' underlying business. Management encourages investors to review AngioDynamics' financial results prepared in accordance with GAAP to understand AngioDynamics' performance taking into account all relevant factors, including those that may only occur from time to time but have a material impact on AngioDynamics' financial results. Please see the tables that follow for a reconciliation of non-GAAP measures to measures prepared in accordance with GAAP.

About AngioDynamics, Inc.

AngioDynamics is a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system, expanding cancer treatment options and improving quality of life for patients.

The Company’s innovative technologies and devices are chosen by talented physicians in fast-growing healthcare markets to treat unmet patient needs. For more information, visit www.angiodynamics.com.

Safe Harbor

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "projects," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ materially from AngioDynamics' expectations, expressed or implied. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the scale and scope of the COVID-19 global pandemic, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, infringement of AngioDynamics' technology or assertions that AngioDynamics' technology infringes the technology of third parties, the ability of AngioDynamics to effectively compete against competitors that have substantially greater resources, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions (including inflation, tariffs, labor shortages and supply chain challenges including the cost and availability of raw materials), the results of on-going litigation, challenges with respect to third-party distributors or joint venture partners or collaborators, the results of sales efforts, the effects of product recalls and product liability claims, changes in key personnel, the ability of AngioDynamics to execute on strategic initiatives, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to obtain regulatory clearances or approval of its products, or to integrate acquired businesses, as well as the risk factors listed from time to time in AngioDynamics' SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2025. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.

Three Months Ended

As Reported (1)

Pro Forma Adjustments (2)

Pro Forma

Aug 31, 2025

Aug 31, 2024

Aug 31, 2024

Aug 31, 2024

(unaudited)

Net sales

$

75,711

$

67,491

9

$

67,500

Cost of sales (exclusive of intangible amortization)

33,854

30,767

(2

)

30,765

Gross margin

41,857

36,724

11

36,735

% of net sales

55.3

%

54.4

%

54.4

%

Operating expenses

Research and development

6,417

6,285

—

6,285

Sales and marketing

28,130

25,605

—

25,605

General and administrative

12,555

10,975

—

10,975

Amortization of intangibles

2,653

2,570

—

2,570

Change in fair value of contingent consideration

—

76

—

76

Acquisition, restructuring and other items, net

2,758

4,311

154

4,465

Total operating expenses

52,513

49,822

154

49,976

Operating loss

(10,656

)

(13,098

)

(143

)

(13,241

)

Interest income (expense), net

(4

)

606

—

606

Other expense, net

(178

)

(173

)

—

(173

)

Total other income (expense), net

(182

)

433

—

433

Loss before income tax benefit

(10,838

)

(12,665

)

(143

)

(12,808

)

Income tax expense

65

133

—

133

Net loss

$

(10,903

)

$

(12,798

)

$

(143

)

$

(12,941

)

Loss per share

Basic

$

(0.26

)

$

(0.31

)

$

(0.32

)

Diluted

$

(0.26

)

$

(0.31

)

$

(0.32

)

Weighted average shares outstanding

Basic

41,174

40,653

40,653

Diluted

41,174

40,653

40,653

Reconciliation of Net Loss to non-GAAP Adjusted Net Loss and Pro Forma Adjusted Net Loss:

Three Months Ended

As Reported (1)

Pro Forma Adjustments (2)

Pro Forma

Aug 31, 2025

Aug 31, 2024

Aug 31, 2024

Aug 31, 2024

(unaudited)

Net loss

$

(10,903

)

$

(12,798

)

$

(143

)

$

(12,941

)

Amortization of intangibles

2,653

2,570

—

2,570

Change in fair value of contingent consideration

—

76

—

76

Acquisition, restructuring and other items, net (3)

2,758

4,311

154

4,465

Tax effect of non-GAAP items (4)

1,313

1,446

(3

)

1,443

Adjusted net loss

$

(4,179

)

$

(4,395

)

$

8

$

(4,387

)

Reconciliation of Diluted Loss and Pro Forma Diluted Loss Per Share to non-GAAP Adjusted and Pro Forma Adjusted Diluted Loss Per Share:

Three Months Ended

As Reported (1)

Pro Forma Adjustments (2)

Pro Forma

Aug 31, 2025

Aug 31, 2024

Aug 31, 2024

Aug 31, 2024

(unaudited)

Diluted loss per share

$

(0.26

)

$

(0.31

)

$

(0.01

)

$

(0.32

)

Amortization of intangibles

0.06

0.06

0.00

0.06

Change in fair value of contingent consideration

0.00

0.00

0.00

0.00

Acquisition, restructuring and other items, net (3)

0.07

0.10

0.00

0.10

Tax effect of non-GAAP items (4)

0.03

0.04

0.00

0.04

Adjusted diluted loss per share

$

(0.10

)

$

(0.11

)

$

0.00

$

(0.11

)

Adjusted diluted sharecount (5)

41,174

40,653

40,653

40,653

Reconciliation of Net Loss and Pro Forma Net Loss to Adjusted EBITDA and Pro Forma Adjusted EBITDA:

Three Months Ended

As Reported (1)

Pro Forma Adjustments (2)

Pro Forma

Aug 31, 2025

Aug 31, 2024

Aug 31, 2024

Aug 31, 2024

(unaudited)

Net loss

$

(10,903

)

$

(12,798

)

$

(143

)

$

(12,941

)

Income tax expense

65

133

—

133

Interest expense (income), net

4

(606

)

—

(606

)

Depreciation and amortization

5,950

6,785

—

6,785

Change in fair value of contingent consideration

—

76

—

76

Stock based compensation

4,470

3,205

—

3,205

Acquisition, restructuring and other items, net (3)

2,574

3,042

154

3,196

Adjusted EBITDA

$

2,160

$

(163

)

$

11

$

(152

)

Three Months Ended

(in thousands)

Aug 31, 2025

Aug 31, 2024

Legal (1)

$

213

$

507

Plant closure (2)

2,345

3,589

Transition service agreement (3)

(302

)

(507

)

Other

502

722

Total

$

2,758

$

4,311

 

(1) Legal expenses related to litigation that is outside the normal course of business.

(2) Plant closure expense, related to the restructuring of our manufacturing footprint which was announced on January 5, 2024.

(3) Transition services agreements that were entered into with Merit and Spectrum.

Three Months Ended

As Reported (1)

Pro Forma

Adjustments (2)

Pro Forma

Actual

Pro Forma

Aug 31, 2025

Aug 31, 2024

Aug 31, 2024

Aug 31, 2024

% Growth

% Growth

(unaudited)

Net Sales

Med Tech

$

35,261

$

27,969

$

—

$

27,969

26.1

%

26.1

%

Med Device

40,450

39,522

9

39,531

2.3

%

2.3

%

$

75,711

$

67,491

$

9

$

67,500

12.2

%

12.2

%

Net Sales

United States

$

66,456

$

59,481

$

10

$

59,491

11.7

%

11.7

%

International

9,255

8,010

(1

)

8,009

15.5

%

15.6

%

$

75,711

$

67,491

$

9

$

67,500

12.2

%

12.2

%

GROSS MARGIN BY PRODUCT CATEGORY

(in thousands)

 

Three Months Ended

As Reported (1)

Pro Forma

Adjustments (2)

Pro Forma

Actual

Pro Forma

Aug 31, 2025

Aug 31, 2024

Aug 31, 2024

Aug 31, 2024

% Change

% Change

(unaudited)

(unaudited)

Med Tech

$

21,922

$

17,697

$

—

$

17,697

23.9

%

23.9

%

Gross margin % of sales

62.2

%

63.3

%

63.3

%

Med Device

$

19,935

$

19,027

$

11

$

19,038

4.8

%

4.7

%

Gross margin % of sales

49.3

%

48.1

%

48.2

%

Total

$

41,857

$

36,724

$

11

$

36,735

14.0

%

13.9

%

Gross margin % of sales

55.3

%

54.4

%

54.4

%

Aug 31, 2025

May 31, 2025

(unaudited)

(audited)

Assets

Current assets:

Cash and cash equivalents

$

38,762

$

55,893

Accounts receivable, net

42,643

42,890

Inventories

62,255

62,006

Prepaid expenses and other

12,996

7,535

Total current assets

156,656

168,324

Property, plant and equipment, net

31,066

32,300

Other assets

9,540

10,404

Intangible assets, net

68,380

69,116

Total assets

$

265,642

$

280,144

Liabilities and stockholders' equity

Current liabilities:

Accounts payable

$

31,882

$

33,291

Accrued liabilities

27,657

35,518

Other current liabilities

8,743

7,388

Total current liabilities

68,282

76,197

Deferred income taxes

4,268

4,073

Other long-term liabilities

14,237

16,904

Total liabilities

86,787

97,174

Stockholders' equity

178,855

182,970

Total Liabilities and Stockholders' Equity

$

265,642

$

280,144

Three Months Ended

Aug 31, 2025

Aug 31, 2024

(unaudited)

Cash flows from operating activities:

Net loss

$

(10,903

)

$

(12,798

)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

6,020

6,785

Non-cash lease expense

445

494

Stock based compensation

4,470

3,205

Change in fair value of contingent consideration

—

76

Deferred income taxes

(16

)

(339

)

Change in accounts receivable allowances

108

270

Fixed and intangible asset impairments and disposals

(27

)

20

Other

264

121

Changes in operating assets and liabilities:

Accounts receivable

139

3,784

Inventories

(192

)

(4,053

)

Prepaid expenses and other

(5,525

)

(836

)

Accounts payable, accrued and other liabilities

(10,697

)

(14,982

)

Net cash used in operating activities

(15,914

)

(18,253

)

Cash flows from investing activities:

Additions to property, plant and equipment

(731

)

(1,092

)

Additions to placement and evaluation units

(820

)

(1,313

)

Net cash used in investing activities

(1,551

)

(2,405

)

Cash flows from financing activities:

Principal payments on finance arrangements

(91

)

—

Repurchase of common stock

—

(552

)

Proceeds from exercise of stock options and employee stock purchase plan

234

43

Net cash provided by (used in) financing activities

143

(509

)

Effect of exchange rate changes on cash and cash equivalents

191

116

Decrease in cash and cash equivalents

(17,131

)

(21,051

)

Cash and cash equivalents at beginning of period

55,893

76,056

Cash and cash equivalents at end of period

$

38,762

$

55,005

More News From AngioDynamics, Inc.

STAFFORD, Texas, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Greenwich LifeSciences, Inc. (Nasdaq: GLSI) (the "Company"), a clinical-stage biopharmaceutical company focused on its Phase III clinical trial, FLAMINGO-01, which is evaluating GLSI-100, an immunotherapy to prevent breast cancer recurrences, today announced the expansion of FLAMINGO-01 clinical trial to Belgium.

The Company's application to European regulators has been formally approved, adding Belgium as an approved country in FLAMINGO-01 in addition to Spain, France, Germany, Italy, Poland, Romania, Ireland, Portugal, and the US.

According to the latest data collected by the European Cancer Information System (click here), a total of 11,366 new cases of breast cancer were diagnosed in Belgium in 2022, which is the most common cancer diagnosed in women, representing approximately 33% of all cancers in women. Breast cancer is the leading cause of death from cancer in women in Belgium with 2,324 deaths in 2022.

The Company is collaborating with Patrick Neven, MD, PhD, at UZ Leuven, who will be serving as the national principal investigator in Belgium for FLAMINGO-01. Dr Neven is Full Professor at the Department of Gynecological Oncology, University Hospitals Leuven, and is a staff member of the Multidisciplinary Breast Centre. His research focuses on breast oncology, particularly endocrine therapy and quality of life. He has served as principal investigator in multiple clinical trials, published over 300 peer-reviewed papers, and lectured widely at international meetings. He is president of the Belgian Society of Senology, active in several scientific societies, and has mentored numerous doctors and PhD students in breast cancer care.

CEO Snehal Patel commented, "We thank our steering committee for introducing us to Dr. Neven and look forward to working with him and his colleagues. We are planning start-up activities in Leuven in the coming month. Leuven is centrally located in Belgium and is an ideal location to cover large parts of the country, including Brussels and Antwerp."

About FLAMINGO-01 and GLSI-100

FLAMINGO-01 (NCT05232916) is a Phase III clinical trial designed to evaluate the safety and efficacy of GLSI-100 (GP2 + GM-CSF) in HER2 positive breast cancer patients who had residual disease or high-risk pathologic complete response at surgery and who have completed both neoadjuvant and postoperative adjuvant trastuzumab based treatment. The trial is led by Baylor College of Medicine and currently includes US and European clinical sites from university-based hospitals and academic and cooperative networks with plans to open up to 150 sites globally. In the double-blinded arms of the Phase III trial, approximately 500 HLA-A*02 patients will be randomized to GLSI-100 or placebo, and up to 250 patients of other HLA types will be treated with GLSI-100 in a third arm. The trial has been designed to detect a hazard ratio of 0.3 in invasive breast cancer-free survival, where 28 events will be required. An interim analysis for superiority and futility will be conducted when at least half of those events, 14, have occurred. This sample size provides 80% power if the annual rate of events in placebo-treated subjects is 2.4% or greater.

For more information on FLAMINGO-01, please visit the Company's website here and clinicaltrials.gov here. Contact information and an interactive map of the majority of participating clinical sites can be viewed under the "Contacts and Locations" section. Please note that the interactive map is not viewable on mobile screens. Related questions and participation interest can be emailed to: [email protected]

About Breast Cancer and HER2/neu Positivity

One in eight U.S. women will develop invasive breast cancer over her lifetime, with approximately 300,000 new breast cancer patients and 4 million breast cancer survivors. HER2 (human epidermal growth factor receptor 2) protein is a cell surface receptor protein that is expressed in a variety of common cancers, including in 75% of breast cancers at low (1+), intermediate (2+), and high (3+ or over-expressor) levels.

About Greenwich LifeSciences, Inc.

Greenwich LifeSciences is a clinical-stage biopharmaceutical company focused on the development of GP2, an immunotherapy to prevent breast cancer recurrences in patients who have previously undergone surgery. GP2 is a 9 amino acid transmembrane peptide of the HER2 protein, a cell surface receptor protein that is expressed in a variety of common cancers, including expression in 75% of breast cancers at low (1+), intermediate (2+), and high (3+ or over-expressor) levels. Greenwich LifeSciences has commenced a Phase III clinical trial, FLAMINGO-01. For more information on Greenwich LifeSciences, please visit the Company's website at www.greenwichlifesciences.com and follow the Company's Twitter at https://twitter.com/GreenwichLS.

Forward-Looking Statement Disclaimer

Statements in this press release contain "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Greenwich LifeSciences Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including statements regarding the intended use of net proceeds from the public offering; consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section entitled "Risk Factors" in Greenwich LifeSciences' Annual Report on the most recent Form 10-K for the year ended December 31, 2024, and other periodic reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Greenwich LifeSciences, Inc. undertakes no duty to update such information except as required under applicable law.

Company Contact
Snehal Patel
Investor Relations
Office: (832) 819-3232
Email: [email protected]

Investor & Public Relations Contact for Greenwich LifeSciences
Dave Gentry
RedChip Companies Inc.
Office: 1-800-RED CHIP (733 2447)
Email: [email protected]

Calgary, Alberta--(Newsfile Corp. - October 2, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to provide an update on its ongoing diamond drilling program at the Clay Howells Rare Earth Element (REE) Project, located in northwestern Ontario. The campaign has completed four holes, and drilling is now underway on the fifth.

October 02, 2025 6:00 AM EDT | Source: Dryden Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2025) - Dryden Gold Corp. (TSXV: DRY) (OTCQB: DRYGF) (FSE: X7W) ("Dryden Gold" or the "Company") is pleased to discuss the assay results from the summer channeling program at the Company's Hyndman project. A high-grade interval of 23.32 g/t gold over 2.80 meters, including 24.79 g/t gold over 1.50 meters also including 36.90 g/t gold over 0.70 meters has resulted in a positive drill-test decision as part of Dryden Gold's fully funded 2026 exploration program. Hyndman is located on the eastern portion of Dryden Gold's large land package (Figure 1).

Maura Kolb, President of Dryden Gold states, "Advancing the Hyndman target was one of our four main objectives for the 2025 Exploration Campaign. Making a new discovery there is an exciting validation of our two-pronged approach to our district-wide exploration strategy After a recent site visit, with the new results in hand, I was very pleased to observe the significant vein-shear gold-bearing relationship of the gold bearing structures. Pending assays from our property-wide soil-till sampling will also help us vector into additional potential targets of similar mineralization within the 5-kilometer strike potential at Hyndman."

Regional work at Hyndman is part of the Company's two-pronged approach to exploration in the Dryden Gold District (see video summary here). First and foremost, the Company is focused on its flagship brownfields prospect at the Gold Rock Target Area ("Gold Rock"). Drilling at Gold Rock has intercepted multiple high-grade parallel structures over a one-kilometer strike. In addition, Dryden Gold intends to make new discoveries through regional exploration which includes: (1) proving periodicity in the Gold Rock Camp with a 2-kilometer step-out at Mud Lake, (2) drill testing the Sherridon Project and (3) advancing the Hyndman Project to "drill-ready" status through channel sampling. Drilling at Mud Lake and Sherridon and extensional drill testing along the Elora structure in the Gold Rock Target Area have been completed with results pending.

"The mineralization that we are observing at Hyndman appears to be very similar to the Goldlund Deposit held by NexGold," commented CEO Trey Wasser, "Goldlund is located within the Dryden Region. What excites me the most is that the host rock for Hyndman has 4-5 times more potential strike length than Goldlund. In addition, Hyndman is located right off the Trans-Canada Highway, which has extensive logging road access, railway crossing the property and Ontario grid power. The Team is now combining our summer mapping and prospecting with the channel sample results to refine our geologic understanding and prepare for Hyndman's drilling phase."

Dryden first announced positive assay results at Hyndman from the 2023 reconnaissance program where the target was first discovered (January 25, 2024). This first significant assay result on the Hyndman project was followed up with a detailed mapping and sampling program in 2024 (January 13, 2025). Previous assay results from Hyndman were all surface grab samples. This current program utilized channel sampling which cuts the rock on surface. Channel samples are taken by cutting parallel cuts along the surface of the rock then chipping out the rock in between. This creates a continuous sample across the geological features similar to a drill hole. The new results of 23.32 g/t gold over 2.80 meters, including 24.79 g/t gold over 1.50 meters also including 36.90 g/t gold over 0.70 meters was hosted in a shear-vein at surface (Figure 2). See summary video here.

Figure 1: Map showing location of Hyndman

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/268827_d3f8afec7438fb73_001full.jpg

Geology Summary

Hyndman is in the Kawashegamuk Group, with various lithologies of metasedimentary units within the larger mafic metavolcanic sequences, often displaying massive to pillowed basalts, and various lenses of intermediate intrusions. The current Hyndman target is a large, roughly, 4-5 km long and 400m wide (at the widest section), oblong, diorite intrusion marginally situated south-west of an interpreted 1.8 km wide deformation interpreted from strongly elongate pillowed basalts containing garnet in the selvages indicating increased pressure and fluid flow, in alternance with thickly laminated clastic metasedimentary units.

Within this large diorite, discrete 1 to 5-meter shear zones (variable thickness defined by surface expression) typically contain small mm to cm sized boudinaged quartz veinlets parallel to the shear fabric, oriented NW-SE, with visible 20 — 30cm sized quartz veins containing up to 5% visible Py, also shear-parallel. Hematite-ankerite staining and alteration is stronger marginal to the larger and more prominent quartz-veins and veinlets. It appears that the rheological change from the surrounding volcanic rock to the intermediate intrusion was favorable for gold deposition during this deformational event. The Company's geological interpretation is on-going following completion of our fieldwork program and drill testing using oriented core.

Figure 2: Map showing highlight results from Hyndman

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/268827_d3f8afec7438fb73_002full.jpg

Table 1: Highlight results from Hyndman Channel Sample Program

Target AreaChannel ID
FromTo Length (m)Grade (g/t Au)Hyndman South
 Intrusion-HostedDHY-CH-045
3.906.702.8023.32incl.4.205.701.5024.79incl.5.005.700.7036.90Hyndman South
Mafic hostedDHY-CH-063
1.002.001.002.37Hyndman North
 Intrusion-HostedDHY-CH-001
0.001.001.001.66Hyndman North
 Mafic hostedDHY-CH-059
7.007.700.702.12DHY-CH-080
0.001.001.001.85DHY-CH-126
1.002.001.001.10*Reported intervals are drilled core lengths; assay values are uncutMarketing Update
Management will be participating in the upcoming 121 Global Online Conference taking place on October 14-15, 2025. Investors can look forward to getting an update on our fully funded drill program and upcoming exploration plans. We welcome investors to reach out for meetings and to review our updated corporate presentation, here. For more information about which conferences management will be attending next, please visit our Events page, here.

Qualified Person
The technical disclosure in this news release has been reviewed and approved by Maura J. Kolb, M.Sc., P. Geo., President of Dryden Gold and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

Analytical Laboratory and QA/QC Procedures
The Company is drilling NQ size core. Samples are cut in half, with half going to the lab for analysis and half kept as a record. True thickness/widths of the mineralization are unknown, result intervals are reported as the drilled core lengths unless otherwise stated. All sampling completed by Dryden Gold Corp. within its exploration programs is subject to a Company standard of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified reference materials, blank materials, and a level of duplicate analysis. Drill samples from the 2024 and 2025 program were sent to Activation Laboratories, with sample preparation and analysis in Dryden, where they were processed for gold analysis by 50-gram fire assay with an atomic absorption finish and over limits determined by Fire Assay with a gravimetric finish. Select samples were analyzed using metallic screens. Activation Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.

ABOUT DRYDEN GOLD CORP.
Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange ("DRY") and on the OTCQB marketplace ("DRYGF") and FSE ("X7W"). The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition and consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls a 100% interest in a dominant strategic land position in the Dryden Gold District of Northwestern Ontario. Dryden Gold's property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys collaborative relationships with First Nations communities and benefits from proximity to an experienced mining workforce.

For more information go to our website www.drydengold.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the acquisition of the Property, receipt of corporate and regulatory approvals, issuance of common shares; future development plans; future acquisitions; exploration programs; and the business and operations of Dryden Gold. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings including receipt of TSX Venture Exchange approval for the acquisition of the Property; risks related to environmental regulation and liability; the potential for delays in exploration or development activities; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in Dryden Gold's and the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Dryden Gold's and the Company's expectations or projections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268827

EAGLE, Idaho, Oct. 02, 2025 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, announced today that on October 1, 2025, it acquired certain operations from UnitedHealth Group Incorporated (“UnitedHealth”). The operations were divested pursuant to UnitedHealth’s and Amedisys Inc.’s (“Amedisys”) antitrust settlement with the United States Justice Department.

Pennant is purchasing divested home health, hospice, and personal care services in Tennessee, Georgia and Alabama for a combined purchase price of $146.5 million. The asset package includes 54 locations.

The acquired agencies are primarily located in Tennessee, a certificate of need state. Approximately two-thirds of the revenue is connected to home health and one-third to hospice. Pennant and UnitedHealth have a transition services agreement in place to facilitate a smooth transition, and Pennant has prepared throughout 2025 to execute on the transaction.

“This marks an exciting new chapter in Pennant’s growth journey,” said Brent Guerisoli, Pennant's Chief Executive Officer. “Entering the Southeast is a strategic move for us, and we do so from a position of strength, building on proven leadership, operational excellence, and a clear vision for the future. This acquisition opens the door for emerging leaders in this new region to grow within Pennant’s innovative platform.”

“We are pleased to welcome these exceptional teams into the Pennant family,” said John Gochnour, Pennant’s Chief Operating Officer. “They are among the leading operators in our industries, and their commitment to clinical excellence and deep local ties to the region make this an exciting combination. We look forward to bringing these agencies into our portfolio and bringing the Pennant operating model to the Southeast United States.”

Mr. Guerisoli reiterated that Pennant will continue to pursue opportunities for growth in the home health, hospice and senior living industries, targeting strategic and underperforming operations of all sizes.

Pennant was advised on legal matters by Robinson & Cole LLP and Paul Hastings LLP, with Truist Securities serving as financial advisor on the transaction.

About Pennant:

The Pennant Group, Inc. is a holding company of independent operating subsidiaries that provide healthcare services through home health and hospice agencies and senior living communities located throughout Arizona, California, Colorado, Connecticut, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. Each of these businesses is operated by a separate, independent operating subsidiary that has its own management, employees and assets. References herein to the consolidated "company" and "its" assets and activities, as well as the use of the terms "we," "us," "its" and similar verbiage, are not meant to imply that The Pennant Group, Inc. has direct operating assets, employees or revenue, or that any of the home health and hospice businesses, senior living communities or the Service Center are operated by the same entity. More information about Pennant is available at www.pennantgroup.com.

SOURCE: The Pennant Group, Inc.

Highlights: US Tariffs: Immuron does not anticipate any material impact from the recently announced US tariffs on pharmaceutical products Travelan® Clinical Study: Topline results from the Travelan® clinical study conducted by Uniformed Services University are anticipated in October 2025 IMM-529 Regulatory Milestone: Immuron plans to submit an Investigational New Drug (IND) application to the U.S. FDA for IMM-529 (Clostridiodes difficile infection) in mid-October 2025 ProIBS® Commercial Launch: The Australian Launch of ProIBS® is on track for Q4 of calendar year 2025 IMM-986 Pre-Clinical Progress: Initial pre-clinical research studies for IMM-986, targeting Vancomycin-resistant Enterococci (VRE), are anticipated to be completed by year-end 2025 MELBOURNE, Australia, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian based and globally integrated biopharmaceutical company is pleased to provide shareholders with a brief update on progress with a number of projects. Sales As announced on July 17, Immuron achieved record sales up to Financial Year ending June 30, 2025.Immuron is on track to exceed FY24 first quarter sales.

TOMBALL, Texas--(BUSINESS WIRE)--O2 Investment Partners (www.o2investment.com) is pleased to announce that through Centex Construction (“Centex”) (www.centexconstruction.com), a leading provider of renovation, restoration, and maintenance services for the multi-family facility market, it has made an investment in and partnered with One Way Property Restoration (“One Way”) (www.oneway.com) to support its strategic growth plan.

We are excited to work alongside Jason, Joshua, and the One Way team. Their expertise, capabilities, and entrenched customer relationships are accretive to Centex, and strengthen the platform’s emergency mitigation and restoration service mix.

Share
Founded in 2001 by Jason Dupuis and later joined by Joshua Rafter, One Way is an established provider of 24/7 emergency mitigation and restoration services for water and fire damage, mold remediation, reconstruction, and carpet cleaning services primarily serving the multi-family and commercial end markets. One Way is based in Tampa, Florida, and maintains additional locations in Washington, Michigan, Indiana, and Maryland.

“We are excited to partner with One Way,” said Mark Whitehead, President of Centex. “Jason and Joshua have built an outstanding business with a diversified customer base, unique service offering, and geographic presence that aligns well with and broadens the platform’s footprint. We look forward to providing resources and infrastructure to support One Way’s continued success.”

“Partnering with Centex and O2 is a tremendous opportunity to accelerate the future growth of both businesses. One Way now has an additional suite of services that we can deliver to our customers through Centex’s renovation and maintenance capabilities, while Centex gains additional restoration capacity and access to four new geographic markets,” said Jason Dupuis, President of One Way. “Centex is an outstanding fit for our company, and we are thrilled to partner with Mark and his team as we embark on this next chapter.”

Charlie Miller at O2 commented, “We are excited to work alongside Jason, Joshua, and the One Way team. Their expertise, capabilities, and entrenched customer relationships are accretive to Centex, and strengthen the platform’s emergency mitigation and restoration service mix. This partnership expands our total addressable market, creates significant cross-selling opportunities, and enhances our position as a leader in the multi-family services sector.”

About Centex Construction

Headquartered in Tomball, TX and founded in 2016, Centex Construction is a leading provider of renovation, restoration, and maintenance services for existing, largescale multi-family property managers and owners. The Company’s operations span 8 states across the Southeast and Southwest United States. Centex offers a comprehensive suite of services, including immediate maintenance repair, exterior renovations, roofing, restoration and rebuild, interior renovations, and amenity upgrades, among other services. Centex completes thousands of jobs annually with many of the largest nationally recognized property managers and owners in the United States. Additional information is available at www.centexconstruction.com.

About One Way

One Way is an established provider of 24/7 emergency mitigation and restoration services for water and fire damage, mold remediation, reconstruction, and carpet cleaning services primarily serving the multi-family and commercial end markets. One Way is based in Tampa, Florida, and maintains additional locations in Washington, Michigan, Indiana, and Maryland. Additional information is available at www.oneway.com.

About O2 Investment Partners

O2 Investment Partners is a Midwestern based private equity firm that seeks to invest in lower middle market B2B services, technology, and select industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management. Additional information is available at www.o2investment.com.

, /PRNewswire/ -- Global health company The Cigna Group (NYSE:CI) will release its third quarter 2025 financial results on Thursday, October 30, 2025, and will host a conference call the same day.

Third quarter 2025 financial results will be released no later than 6:30 a.m. Eastern Time (ET). Management will review these results on a conference call beginning at 8:30 a.m. ET. The call-in numbers are as follows:

               Live Call
               (888) 566-1889 (Domestic)
               (773) 799-3989 (International)
               Passcode: 10302025

               Replay
               (866) 405-7290 (Domestic)
               (203) 369-0603 (International)

It is strongly suggested that participants dial in to the conference call by 8:15 a.m. ET on October 30, 2025. A replay of the call will be available from 12:30 p.m. ET on October 30, 2025 until 10:59 p.m. ET on November 13, 2025. Additionally, the conference call will be available on a live internet webcast at https://investors.thecignagroup.com/events-and-presentations/default.aspx in the Investor Relations section of The Cigna Group's website. Please note that this feature will be in listen-only mode.

A copy of the company's news release and financial supplement will be available on The Cigna Group's website in the Investor Relations section at https://investors.thecignagroup.com/overview/default.aspx, no later than 6:30 a.m. ET on October 30, 2025.

About The Cigna Group

The Cigna Group (NYSE:CI) is a global health company committed to creating a better future built on the vitality of every individual and every community. We relentlessly challenge ourselves to partner and innovate solutions for better health. The Cigna Group includes products and services marketed under Cigna Healthcare, Evernorth Health Services or its subsidiaries. The Cigna Group maintains sales capabilities in more than 30 markets and jurisdictions, and has approximately 180 million customer relationships around the world. Learn more at thecignagroup.com.

Investor Relations Contact
Ralph Giacobbe
1 (860) 787-7968
[email protected]

Media Contact
Justine Sessions
1 (860) 810-6523
[email protected]

SOURCE The Cigna Group

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Fans can celebrate one of 2025's biggest cultural moments with 200 new 'Wicked' and 'Wicked: For Good' products, with nearly half of the assortment exclusive and priced under $20

Including a collection featuring exclusive apparel and home decor by designer Katie Kime

Pre-orders available today for an exclusive 'Wicked' collector's book featuring a sneak peek at the upcoming film, letters from the leading ladies and images from the film

, /PRNewswire/ -- Target Corporation (NYSE: TGT) today announced an all-new collection inspired by Universal Pictures' "Wicked: For Good." The assortment features nearly 200 new products, with nearly half the assortment exclusive to Target and priced under $20. Fans can shop their favorites and find affordable gift options. The collection will begin rolling out Oct. 5 in Target stores and on Target.com with additional product drops leading up to the film's release only in theaters on Nov. 21.

"Last year, Target was the go-to for all things 'Wicked' and we can't wait to help Glinda and Elphaba fans everywhere celebrate the epic conclusion of this incredible story," said Jill Sando, executive vice president and chief merchandising officer of apparel & accessories, home and hardlines, Target. "We're bringing the magic of a cultural phenomenon to life with an assortment of products featuring great design, beloved brands and incredible value to help everyone embrace the magic of the Land of Oz in a uniquely Target way."

Be changed for good with a spellbinding collection 
In the lead-up to the beloved film's sequel premiere, Target will be the go-to destination for products spanning apparel, books, home decor, toys and more that can't be found anywhere else, including:

"Wicked: For Good" x Katie Kime Collection  – A line blending bold design and whimsical storytelling to reimagine the "Wicked" universe for wardrobes and homes. Known for her vibrant prints and lifestyle goods, Katie Kime brings the visual magic of "Wicked" into everyday life with two Target exclusives: a home décor collection launching Oct. 12, followed by an apparel and accessories collection on Nov. 2.
"Wicked": The Official Visual Companion – An exclusive collector's book featuring personal letters from cast members, a limited-edition reversible poster and more than 300 full-color images. The book is available for preorder on Target.com now, and in stores and online beginning Nov. 21.
"Wicked: For Good" – The Soundtrack – A Target exclusive LP vinyl featuring a lenticular cover and pink and green shimmer vinyl. With fan-favorite music and lyrics by legendary Grammy and Oscar winning composer and lyricist Stephen Schwartz, the soundtrack includes two new original songs featured in the film: "No Place Like Home" performed by Academy Award nominee Cynthia Erivo as Elphaba, and "The Girl In The Bubble" performed by Academy Award nominee Ariana Grande as Glinda.
Fan-favorite toys and collectibles – Must-have finds including an exclusive LEGO set, Little People figures, Mattel Singing Dolls and Stanley 1913 tumblers round out the assortment, offering fans fun and collectible ways to celebrate the world of "Wicked: For Good."

"Translating the fantastical world of 'Wicked' into Katie Kime prints and products for Target has been an extraordinary honor," states Katie Kime, founder, CEO & designer. "Through vibrant color, imaginative creatures, and beloved characters, this 'Wicked: For Good' x Katie Kime for Target collection captures the spirit of the iconic story I hope fans will love and give a meaningful way to bring the magic of the wonderful world of Elphaba, Glinda and all of Oz into their everyday lives through sleepwear, apparel, and pieces for the home."

A 'Wicked: For Good' experience in stores and online
Fans can gear up and shop "Wicked: For Good" products throughout Target stores and a dedicated "Wicked" destination on Target.com, making it simple to shop, browse and preorder exclusives. Guests can also take advantage of Target's flexible fulfillment services for quicker options, including Same Day Delivery, Drive Up and Order Pickup available within hours, plus Next-Day Delivery or 2-Day Shipping for free with orders above $35.

Additional information about the partnership, along with multimedia downloads of the products, is available on Target's corporate website. Visit the retailer's holiday press hub for more on all the ways Target is delivering savings, ease and holiday magic this season.

About Target
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 2,000 stores and at Target.com, with the purpose of helping all families discover the joy of everyday life. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Additional company information can be found by visiting the corporate website and press center.

About 'Wicked: For Good'
Last year's global cinematic cultural sensation, which became the most successful Broadway film adaptation of all time, now reaches its epic, electrifying, emotional conclusion. The final chapter of the untold story of the witches of Oz begins with Elphaba (Oscar® nominee Cynthia Erivo) and Glinda (Oscar® nominee Ariana Grande) estranged and living with the consequences of their choices. When a girl from Kansas comes crashing into their lives, they will need to come together one final time, and truly see each other, if they are to change themselves, and all of Oz, for good. 

About Universal Products & Experiences
Universal Products & Experiences (UP&E) globally drives the expansion and elevation of NBCUniversal's iconic collection of brands, intellectual properties, characters, and stories based on the company's extensive portfolio of properties created by Universal Pictures, Illumination, DreamWorks Animation and NBCUniversal Television and Streaming. The division executes this through innovative physical and digital products, as well as engaging retail and product experiences across our expansive global theme park destinations (for both owned and third-party IP), location-based venues, e-commerce product platforms, and retailers around the world. Along with global brand strategy and creative, UP&E's lines of business include Consumer Products and Games, along with Theme Parks Products & Retail. UP&E is a division of Universal Destinations & Experiences, part of NBCUniversal, a subsidiary of Comcast Corporation. More information is available at universalproductsexperiences.com. 

SOURCE Target Corporation

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The tech conglomerate's American depositary receipts are up 116% so far in 2025.

Francisco Blanch, head of commodities and derivatives research at Bank of America, discusses the power demand from artificial intelligence data centers which have sent wholesale electricity prices to record highs. "Oil is about a third of the energy we consume.

This ETF offers a hefty dividend and the prospect of relatively safe income for decades to come.

The Global X MLP ETF (MLPA 0.21%) boasts a trailing dividend yield of 7.8% and provides passive income-seeking investors with a compelling way to secure quarterly income. Still, yields are far from being the only or the most reliable metric for determining total returns for investors. Let's take a closer look at the ETF and what it has to offer.

What is the Global X MLP ETF?
The ETF invests in master limited partnerships (MLPs) operating in the midstream pipelines and storage facilities industries. MLPs trade publicly, but they carry the benefits of limited partnerships for taxation purposes. MLPs don't pay corporate taxes, so they pass on more of their income to investors in the form of distributions.

Since the ETF only invests in midstream pipeline and storage facility stocks, you can think of the ETF as offering a constant stream of income from its fee-based contracts, whether they be from gas transportation based on volumes of gas, take-or-pay fees, or gas storage fees, directly to the investor in the form of distributions.

Not correlated to energy prices
One of the major drawing points of the ETF is the idea that it invests in stocks that receive a relatively stable level of income based on gas volumes, supported by take-or-pay contracts. As such, the ETF's management claims that the 20 MLPs it invests in "have less sensitivity to energy prices." For reference, the ETF also invests in its sister ETF, the Global X MLP & Energy Infrastructure ETF, which also holds gas pipelines and storage companies, as well as midstream energy infrastructure companies.

Image source: Getty Images.

One way to test the idea that the ETF isn't sensitive to energy prices is by comparing its correlation with that of the oil price and the natural gas price. The result is shown below. As a rough rule of thumb, a figure close to 1 or minus 1 indicates perfect correlation, and a figure of about 0.8 or minus 0.8 indicates strong correlation.

On this basis, the ETF offers the prospect of high income without correlation with energy prices -- something many investors might want, as it means they don't have to take a view on where energy prices are heading.

Fundamental Chart data by YCharts

An alternative viewpoint
That said, it's always essential to understand what viewpoint you are manifesting by buying into an ETF. This is especially important with an ETF, because although the spread of holdings (currently 20) helps diversify stock-specific risk, it locks in risk to the overall investment theme. In other words, you are buying into the idea that gas, and to a lesser extent oil, pipeline, and storage are good industries to invest in.

The following chart shows the total return price. It's a price that assumes reinvestment of the distribution into the ETF and is adjusted to the current price.

The chart illustrates three phases: first, weak performance up to 2020; second, a strong recovery thereafter; and third, a marked period of outperformance from 2024 onward.

MLPA Total Return Price data by YCharts

The first phase took place in a period when optimism over the pace of the energy transition (shift from fossil fuels, such as oil and gas) toward more sustainable fuels, such as renewables, took place. The second phase took place as the recovery from the lockdowns led to a series of supply chain issues and soaring costs for renewable energy, which led to the market negatively reassessing the pace of the transition and recognizing the importance of gas as a source of energy for many decades to come, even as the transition continued.

The third phase occurred as the market priced in the more energy-friendly policies (reducing regulations, unfreezing the export permit pause, and prompting U.S. energy exports) of the Trump administration.

Image source: Getty Images.

A no-brainer investment?
The ETF is not a no-brainer investment, as you must assume that natural gas will continue to play a significant role in the global economy for many years to come and factor in the sector's sensitivity to political developments. While take-or-pay and other long-term customer contracts are fine, the price and willingness to enter them are dictated by demand for energy, and the cost of energy is obviously a function of that.

All told, the ETF is attractive for many reasons, but it's not a no-brainer; investors need to consider how it fits into their portfolios.

Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Barclays India Chief Economist Aastha Gudwani says RBI's move to ease bank lending norms will accelerate business activity and credit growth, while offering crucial support to exporters. She adds that the reform package unveiled by Governor Sanjay Malhotra in the October policy address was akin to a “mini budget” for the economy.

US consumers face an explosion of online fraud, with surveys showing a growing number of adults experiencing scams or attacks.

Scammers are among the top political ad spenders on Meta's platforms, using deepfake videos of American politicians—including President Donald Trump—to promote fake government benefits, a watchdog group said Wednesday.

The nonprofit Tech Transparency Project said it identified 63 scam advertisers that collectively spent $49 million on Facebook and Instagram, often targeting seniors with ads promoting fake stimulus checks, government spending cards and health care payments.

The ads have reached tens of thousands of the platforms' users.

"The findings show how scammers are taking advantage of advances in artificial intelligence technology, public confusion around the status of social safety net programs, and lax Meta content moderation to target new victims," TTP said in a report.

"Meta is allowing this activity even though it prohibits scams and says it invests in scam prevention to keep users safe," it added.

Meta did not immediately respond to AFP's request for comment.

TTP's report quoted a Meta statement saying that the company would "invest in building new technical defenses" as scammers "constantly evolve their tactics to try to evade detection."

According to Meta's rules, advertisers who seek to run political ads in the United States have to undergo a special authorization process, which involves submitting an official ID such as a driver's license along with a US mailing address.

TTP said all of the 63 scam advertisers—who accounted for over 150,600 political ads—had their advertisements removed by Meta within the past 12 months for violating the tech giant's policies. Still, nearly half of them continued to advertise as of Tuesday.

Meta appeared to disable 35 ad accounts, but only after they ran dozens—and in some cases hundreds—of ads. Six of the accounts spent over $1 million before they were disabled or deleted, the report said.

One advertiser identified by TTP—called the Relief Eligibility Center —- ran an ad on Meta platforms in April and May featuring a deepfake video of Trump falsely promising stimulus checks to Americans.

The video matched a speech by Trump in the White House's Rose Garden in early April, but TTP found that the words in the ad did not match the official transcript from the event.

The ad, which directed users to a website to get a "FREE $5,000 Check from Trump," appeared to target men and women over the age of 65 in more than 20 US states, TTP said.

For years, professional fact-checkers have warned about bogus stimulus check offers circulating on social media platforms.

The latest findings underscore the explosion of online fraud, with surveys showing a growing number of American adults experiencing internet scams or impersonation attacks.

In August, the Federal Trade Commission reported a more than four-fold increase since 2020 in complaints from older adults who lost $10,000 or more—sometimes their entire life savings—to scammers impersonating trusted government agencies or businesses.

© 2025 AFP

New tariffs are quickly rearranging supply chains.

It's only been eight months since President Donald Trump took office, but his tariffs are already rearranging the global supply chain.

While the stock market has recovered from the crash that followed the Liberation Day tariff announcement, individual companies impacted by the tariffs are still scrambling to rearrange their supply chains to respond to the higher import tax rates, which research from The Motley Fool shows here.

RH, the company formerly known as Restoration Hardware, said it was moving production out of China, planning to lower its sourcing from that country to just 2% by the end of the year, and increasing production at its factory in North Carolina.

Image source: Getty Images.

Lululemon is adjusting its e-commerce fulfillment network now that the de minimis exemption, which excluded import taxes on shipments worth less than $800, has been removed.

Reshoring has become a major theme in the evolving supply chain situation as well as a goal of the Trump administration, and while some companies are clearly struggling with the new tariffs, others are poised to benefit. Let's take a look at three of them.

1. Prologis
Real estate investment trusts (REITs) look like a great place to start if you're looking for beneficiaries from the reshoring boom, as it's likely to drive an investment in property.

Prologis (PLD 1.69%), in particular, looks set to be a winner as it's the world's largest owner of logistics real estate or warehouses, contracting with companies like Amazon and FedEx. As companies bring more manufacturing back to the U.S., they will need more warehouses to store and distribute those products. The company also sees demand increasing for facilities in Mexico due to the related trend of nearshoring.

In its second-quarter earnings report, management said its leasing pipeline has reached historically high levels, and it expects strong demand to continue.

The company also raised its guidance for the year due to in-development starts and acquisitions, showing that its expansion efforts are accelerating.

2. Manhattan Associates
Staying in the logistics arena, another company that looks poised to capitalize on the reshoring trend is Manhattan Associates (MANH -2.64%), a maker of logistics software to help businesses manage everything from warehouses to distribution to customer service and sales.

The supply chain changes from the Trump tariffs are likely to drive demand for its services. In fact, one of the companies it's helped is RH, which reduced inventory by 40% and returns by 25% with the help of Manhattan Associates.

Remaining performance obligations, a proxy for backlog, increased 26% in the second quarter, a promising sign for future growth, and should see a steady tailwind as companies adapt to the new trade rules.

3. Intel
Intel (INTC 7.24%) may already be benefiting from the reshoring trend. In fact, maybe more so than any other company, the federal government has been trying to prop up Intel, making it a cornerstone of a renewed American semiconductor manufacturing industry.

Intel won an $8 billion grant from the CHIPS Act, and then Trump took the unusual move of guiding the federal government to take a stake in the company, investing $8.9 billion, which includes some of the CHIPS funding, due to its strategic interest in ensuring that the U.S. has an adequate supply of semiconductors.

Shortly after that announcement, Nvidia took a $5 billion stake in Intel, and Apple was reportedly interested in taking a stake.

Intel may be struggling as the company has been unable to capitalize on the AI boom, as revenue has been flat, and it's losing money. However, the company's long history and its manufacturing assets mean it should continue to attract interest from the U.S. government since reshoring is a top priority.

Jeremy Bowman has positions in Amazon and Nvidia. The Motley Fool has positions in and recommends Amazon, Apple, Intel, Lululemon Athletica Inc., Manhattan Associates, Nvidia, and Prologis. The Motley Fool recommends FedEx and recommends the following options: long January 2026 $90 calls on Prologis and short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.

MUNICH--(BUSINESS WIRE)--Advancing the preparation of a digital euro, the European Central Bank (ECB) has announced the conclusion of the framework agreements for each of the five digital euro negotiated procurement procedures (also see the notice view in the Official Journal of the EU). A cooperation between Giesecke+Devrient (G+D) partnering with Nexi and Capgemini has now been selected as the first ranked tenderer in the framework agreement to provide an end-to-end solution to make digital euro payments offline available to users and merchants across Europe. The ability to pay offline, with no third-party involvement, is a key feature of the digital euro, which would ensure privacy and resilience as only cash does today.

A digital euro, issued by the Eurosystem, would be a complement to banknotes and coins, intended to give citizens more freedom of choice when paying digitally in the future. Like cash, it would be available to everyone, at anytime and anywhere as a universally accessible means of payment in the euro area. From the outset, the ECB defined an offline capability as an essential criterion for data privacy and resilience, ensuring payment experiences even in environments without internet connection or power supply. Money is stored directly on users’ devices, such as smartphones, cards and other compatible devices leveraging their secure elements. Payments are settled locally between devices, providing a cash-like privacy as no payment details are recorded by banks, payment service providers or central banks.

Following the completion of negotiated public procurement procedure PRO-009494 Digital Euro Offline Solution, the ECB has now concluded a framework agreement in ranking for the development, implementation and partial operation of the offline solution with a pan-European cooperation as the first-ranked tenderer, led by SecurityTech company G+D, partnering with payment service provider Nexi and global business and technology transformation partner Capgemini. The development refers to the design, definition and implementation of the component and its integration into the overall digital euro architecture.

Following the framework agreement conclusion, G+D and other successful tenderers will work with the ECB to finalize planning and timelines. Under the guidance of the ECB Governing Council and in line with EU legislation, this work will cover the design, integration, and development of the Digital Euro Service Platform (DESP). The cooperation combines G+D's SecurityTech expertise and global experience in public currencies, Capgemini's leadership in technology consulting and digital transformation, and Nexi’s payment technology innovation leadership and POS expertise ensuring integration into the existing infrastructure.

“We are proud to lead this pan-European cooperation, working together with our partners Nexi and Capgemini to bring the digital euro’s offline capabilities to life. This milestone underscores our commitment to innovation and security in digital payment solutions while preserving the privacy and resilience that citizens expect from cash. We are honoured to partner with the European Central Bank in shaping the future of public money for generations to come”, comments Dr. Wolfram Seidemann, CEO of G+D Currency Technology.

“As we accelerate the digitization of payments across Europe, our ambition is to enable solutions that are not only innovative, but also resilient. We’re proud to contribute to the development of such an important part of the infrastructure for the digital euro leveraging our strength and knowledge within acceptance technology, that will help ensure seamless payments, also in situations where the terminal is offline”, comments Renato Martini, Digital Banking Solutions Director of Nexi Group.

“As part of an exclusive team, Capgemini has been selected, in its role as partner of Giesecke+Devrient, to support the ECB in developing the key interfaces and testing the offline functionalities of the digital euro. With in-depth development and testing expertise across various industries, we will ensure seamless implementation of the solutions. This assignment strengthens Capgemini's position as a leading partner for digital transformation in the financial sector. We look forward to working with our valued partners Giesecke+Devrient and Nexi to develop a secure, user-centric and future-proof solution for European payments”, confirms Joachim von Puttkamer, Head of Capgemini’s Financial Services practice in Germany.

About Giesecke+Devrient

Giesecke+Devrient (G+D) is a global SecurityTech company headquartered in Munich, Germany. G+D makes the lives of billions of people more secure. The company shapes trust in the digital age, with built-in security technology in three segments: Digital Security, Financial Platforms and Currency Technology. G+D was founded in 1852 and today has a workforce of more than 14,000 employees. In the fiscal year 2024, the company generated a turnover of 3.1 billion euros. G+D is represented by 118 subsidiaries and joint ventures in 41 countries. Further information: www.gi-de.com.

About Nexi

Nexi is Europe's PayTech company operating in high-growth, attractive European markets, and technologically advanced countries. Listed on Euronext Milan, Nexi has the scale, geographic reach, and abilities to drive the transition to a cashless Europe. With its portfolio of innovative products, e-commerce expertise and industry-specific solutions, Nexi provides flexible support for the digital economy and the entire payment ecosystem globally, across a broad range of different payment channels and methods. Nexi’s technological platform and the best-in-class professional skills in the sector enable the company to operate at its best in three market segments: Merchant Solutions, Issuing Solutions and Digital Banking Solutions. Nexi constantly invests in technology and innovation, focusing on two fundamental principles: meeting, together with its partner banks, customer needs and creating new business opportunities for them. Nexi is committed to supporting people and businesses of all sizes, transforming the way people pay, and businesses accept payments. It offers companies the most innovative and reliable solutions to better serve their customers and expand. By simplifying payments and enabling people and businesses to build closer relationships and grow together, Nexi promotes progress to benefit everyone. Further information: www.nexigroup.com

About Capgemini

Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fuelled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion. Further information: www.capgemini.com