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, Dec. 02, 2021 – Brooklyn ImmunoTherapeutics (Nasdaq: BTX) announced that President and CEO Howard Federoff, M.D., Ph.D. will present at two upcoming virtual conferences. He will speak at the Benzinga Global Small Cap Conference on December 8 at 4:40 PM EST, and at the MedInvest Oncology Investor Conference on December 9 at 11:20 AM EST. Both conferences will offer one-on-one meetings with management. Brooklyn is advancing treatments for cancer and blood disorders, including its human cell-derived therapy IRX-2, currently in Phase 2B trials for head and neck cancer.
Brooklyn ImmunoTherapeutics (Nasdaq: BTX) announces the appointment of Susan McClatchey as Vice President, Head of Quality, enhancing its gene editing and cell therapy drug development platform. McClatchey brings nearly 30 years of experience in the industry, previously working at IQVIA and other notable firms. Her expertise is expected to support a significant ramp-up in drug development activities. The company is currently advancing its IRX-2 therapy for head and neck cancer, having shown survival benefits in prior trials. Brooklyn also issued a stock option grant to McClatchey for 70,000 shares.
Brooklyn ImmunoTherapeutics, Inc. (Nasdaq: BTX) announced on November 19, 2021, that it filed a registration statement with the SEC for a proposed public offering of 6,281,454 shares of its common stock, to be sold by certain stockholders. The shares were received in connection with the acquisition of Novellus, Inc. in July 2021. Importantly, Brooklyn will not receive any proceeds from this sale. The registration has not yet become effective, and the offering will only occur post-registration.
Brooklyn ImmunoTherapeutics (Nasdaq:BTX) reported financial results for Q3 2021, highlighting a significant transition to the Nasdaq Global Market and the acquisition of Novellus Therapeutics. The company’s Q3 operating expenses surged to $86.3 million, largely due to $80.5 million in research and development costs from the Novellus acquisition. The net loss for the quarter was $86.1 million, compared to $2.0 million the previous year. Brooklyn has approximately $24.4 million in cash, expected to fund operations into 2023.
Brooklyn ImmunoTherapeutics (ticker: BTX) announced its transfer from NYSE American to Nasdaq, effective October 22, 2021. The common stock will begin trading on Nasdaq on October 25, maintaining the ticker symbol BTX. President and CEO Howard J. Federoff expressed optimism regarding the move, stating it aligns with the company's innovation focus, potentially appealing to a wider range of investors.
The company is advancing its IRX-2 therapy for head and neck cancer, currently in Phase 2B trials, following promising Phase 2A results. Brooklyn also has multiple therapies in preclinical development.
Brooklyn ImmunoTherapeutics, Inc. (NYSE American: BTX) announced on September 20, 2021, that Roger Sidhu was granted a non-qualified stock option for 161,300 shares and a restricted stock unit (RSU) for 80,650 shares. The options will vest over several years, contingent upon continued employment. These grants are intended to induce Dr. Sidhu's employment and are compliant with NYSE rules. Brooklyn focuses on cytokine and gene editing therapies for cancer and blood disorders, with its lead program, IRX-2, showing promise in Phase 2B trials for head and neck cancer.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) has appointed Dr. Roger Sidhu as Chief Medical Officer, effective September 20, 2021. Dr. Sidhu brings extensive R&D experience, including in late-stage clinical development for various cancers. His leadership is expected to guide the company through a critical phase, enhancing its mRNA-based gene editing and cellular reprogramming initiatives. Brooklyn's primary program, IRX-2, is in Phase 2B for head and neck cancer, following promising results in earlier trials. The company also focuses on developing therapies for blood disorders and genetic diseases.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) held a Shareholder Update Call on September 20, 2021, where CEO Howard J. Federoff and guest Matt Angel discussed the company's focus on cytokine, gene editing, and cell therapy for treating cancer and genetic disorders. Key highlights included the use of iMSCs for addressing poor bone marrow transplants, plans for gene editing to target solid tumors and monogenic disorders, and advancements in mRNA strategies to enhance therapeutic efficacy. Brooklyn's lead program, IRX-2, showed overall survival benefits in Phase 2A trials for head and neck cancer.
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Brooklyn ImmunoTherapeutics (BTX) announced a shareholder update conference call scheduled for September 20, 2021. The call, led by CEO Dr. Howard Federoff, will focus on the company’s mRNA cell-engineering platform, which is based on exclusive technology licensed from Factor Bioscience. Participants must pre-register for the call, while others can join via provided dial-in numbers. Brooklyn's lead program, IRX-2, is a cytokine therapy currently in Phase 2B trials for head and neck cancer, following a positive Phase 2A trial showing survival benefits.