Welcome to our dedicated page for BlackRock Tech and Private Equity Term news (Ticker: BTX), a resource for investors and traders seeking the latest updates and insights on BlackRock Tech and Private Equity Term stock.
BlackRock Technology and Private Equity Term Trust (BTX) generates news and disclosures that focus on its role as a BlackRock-managed closed-end term trust with an equity investment strategy. Coverage often centers on the Fund’s managed distribution plan, tender offers for its common shares, and communications from its Board of Trustees regarding distribution policy and capital management.
Recent news has highlighted decisions by the Board of Trustees to update BTX’s managed distribution plan, including a shift from a floating rate distribution to a level rate distribution at a stated monthly rate. These announcements explain the rationale for the changes, such as enhancing distribution stability, maintaining a competitive distribution rate and managing the mix of public and private investments. News items also provide estimated allocations of distributions among net income, capital gains and return of capital, along with explanations of what return of capital means for shareholders and net asset value.
Another key theme in BTX news is corporate actions involving its capital structure. The Fund has announced the commencement, expiration, preliminary results and final results of a tender offer to repurchase up to 50% of its outstanding common shares at a price tied to net asset value. These releases describe the tender offer terms, the number of shares offered and tendered, and the pricing mechanism, while directing investors to the formal tender offer documents filed with the SEC.
Investors following BTX news can expect updates on distribution policies, estimates of distribution sources, tender offer activity, and references to where to find official reports and regulatory filings. Monitoring these announcements helps readers understand how the Fund’s Board manages distributions and capital actions within the framework of its investment objective and regulatory requirements.
BROOKLYN, May 31, 2022 - Brooklyn ImmunoTherapeutics has appointed Matt Angel, Ph.D., as Interim Chief Executive Officer, replacing Howard Federoff, who is leaving to pursue new ventures. Andrew Jackson joins as Chief Financial Officer. Angel's experience in cell therapy and mRNA technology is crucial for advancing Brooklyn’s development programs. The company postponed its 2022 Annual Meeting, originally set for June 7, 2022, with new dates to be announced. Brooklyn focuses on cytokine and gene editing therapies for various diseases.
Brooklyn ImmunoTherapeutics (Nasdaq: BTX) announced it received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the failure to file its Quarterly Report for Q1 2022. The company is working diligently to complete the report and intends to file it promptly. Brooklyn has 60 days to file the report or submit a Compliance Plan, with the possibility of an extension to November 18, 2022, if accepted by Nasdaq. The notice does not have an immediate effect on the listing of Brooklyn’s shares.
Brooklyn ImmunoTherapeutics has expanded its team with new scientific hires and opened a 5,200 square foot R&D facility in San Diego, enhancing its capabilities in cell therapies and genetic medicines. The facility will support translational research and IND-enabling studies, aiming to treat cancer and genetic disorders. The team includes experts with over 12 years in pluripotent stem cell research. Brooklyn's key program, IRX-2, is in Phase 2B trials for head and neck cancer, following promising Phase 2A results.
Brooklyn ImmunoTherapeutics (Nasdaq: BTX) reported its financial results for Q4 and the full year ended December 31, 2021. The company appointed new executives and transitioned to the Nasdaq Global Market while being added to both the Nasdaq and ICE Biotechnology Indexes. In 2021, Brooklyn raised over $52 million and completed the acquisition of Novellus, enhancing its gene therapy platform. For 2021, operating expenses totaled $113.6 million, with a net loss of $122.3 million. Despite increased expenses, cash reserves improved significantly to $17 million by year's end.
Brooklyn ImmunoTherapeutics (Nasdaq: BTX) announced the completion of a private placement, raising approximately $12 million from a leading healthcare investor. The company issued 6,857,142 units at $1.75 per unit, each comprising one share of common stock and a warrant to purchase shares at $1.91 each over five and a half years. Proceeds will support general working capital. The securities sold are subject to resale registration with the SEC.
Brooklyn ImmunoTherapeutics (Nasdaq: BTX) has announced a definitive agreement to sell securities in a private placement, expected to generate approximately $12 million in gross proceeds. The company will issue 6,857,142 units at $1.75 each, each comprising one share of common stock and a warrant at an exercise price of $1.91. The placement is set to close around March 9, 2022. The net proceeds will be used for general working capital. Brooklyn is focused on treatment options for cancer and other diseases through innovative therapies, with ongoing clinical programs.
BROOKLYN, NY, Jan. 20, 2022 – Brooklyn ImmunoTherapeutics (Nasdaq: BTX) has appointed two new members to its Board of Directors: Erin S. Enright and Heather B. Redman. Both bring extensive experience in finance and governance, aiming to enhance the company's strategic direction as it develops therapies for rare diseases. Enright has a strong background in public companies and investment, while Redman has expertise in venture capital and technology. CEO Howard Federoff anticipates that their contributions will strengthen Brooklyn’s position in the biopharmaceutical market.
Brooklyn ImmunoTherapeutics (BTX) announced the issuance of 18 new patents and filing of 17 new patent applications in 2021, all exclusively licensed from Factor Bioscience. These patents cover advances in mRNA-based cellular reprogramming, gene editing, and nucleic acid delivery via ToRNAdo™ lipid nanoparticle technology. With over 70 issued patents and 60 pending applications, Brooklyn is positioned to enhance its therapeutic capabilities in cancer and genetic diseases.
The company’s lead program, IRX-2, shows promise in treating head and neck cancer.
Brooklyn ImmunoTherapeutics (Nasdaq: BTX) has been included in the ICE Biotechnology Index as of December 20, 2021. This inclusion reflects the company's recognition in the biotech sector, according to CEO Howard Federoff. The ICE Biotechnology Index tracks U.S.-listed biotechnology firms engaged in therapeutic research and development. Brooklyn is focused on innovative treatments for cancer, blood disorders, and monogenic diseases, with its lead program, IRX-2, currently in a Phase 2B clinical trial for head and neck cancer, showing promising survival benefits in earlier phases.
Brooklyn ImmunoTherapeutics, Inc. (Nasdaq: BTX) has been named to the Nasdaq Biotechnology Index, effective December 20, 2021. This inclusion signifies recognition of Brooklyn's potential in the biotech sector, as noted by CEO Howard Federoff. The Nasdaq Biotechnology Index tracks the performance of biotechnology and pharmaceutical securities. Brooklyn's advanced program, IRX-2, a human cell-derived cytokine therapy, is in Phase 2B trials for head and neck cancer, building on promising Phase 2A results demonstrating overall survival benefits.