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 ImmunoTherapeutics (NYSE American: BTX) announced the opening of its new mRNA Cleanroom facility in Cambridge, Massachusetts, shared with Factor Bioscience. CEO Howard J. Federoff highlighted the facility’s importance for R&D operations and its role in developing treatments for cancer, sickle cell, and ARDS. The facility offers 2,700 sq. ft. of lab space and aims to create seven R&D jobs. Brooklyn's leading program, IRX-2, is in Phase 2B trials for head and neck cancer, showing promising results in earlier phases.
BROOKLYN, N.Y., Aug. 20, 2021 – Brooklyn ImmunoTherapeutics (NYSE American: BTX) convened its 2021 Annual Meeting of Stockholders but had to adjourn it without conducting business due to lacking the required quorum of 83% of shares outstanding. The meeting is rescheduled for September 3, 2021, to allow stockholders more time to vote. A proxy solicitor has been engaged to assist in obtaining the necessary votes. Stockholders are urged to vote by September 2, 2021. The company continues to advance its clinical programs, including its IRX-2 therapy for head and neck cancer.
BROOKLYN ImmunoTherapeutics, focusing on cytokine and gene editing therapies, provided updates from a shareholder call on August 19, 2021. Key highlights include the integration of Novellus, strategic planning for pipeline programs, and ongoing development of IRX-2, aimed at treating head and neck cancer, with topline data expected in H1 2022. The company has approximately $25 million in cash to support growth and recruitment. Additionally, they are exploring new mesenchymal stem cell products and gene editing for monogenic diseases.
BROOKLYN, N.Y., Aug. 16, 2021 – Brooklyn ImmunoTherapeutics (NYSE American: BTX) has announced a shareholder update conference call scheduled for August 19, 2021, at 4:30 p.m. ET. The call will include a live Q&A session and is accessible via registration or direct dial numbers. Brooklyn focuses on cytokine and gene editing/cell therapies aimed at treating various conditions, with its leading program, IRX-2, demonstrating potential in Phase 2A trials for head and neck cancer. Interested participants can submit questions before the call.
Brooklyn ImmunoTherapeutics (BTX) reported its Q2 2021 financial results, highlighting a significant net loss of $(27.8 million compared to $(3.1 million in Q2 2020. The company raised nearly $51 million through equity line sales to enhance its mRNA gene editing and cell therapies. The acquisition of Novellus Therapeutics was completed in July 2021, allowing Brooklyn to utilize advanced MSC therapies. Operating expenses surged to $10.1 million, primarily due to increased R&D activities. Brooklyn holds approximately $25 million in cash after the Novellus deal, with expectations to fund operations through the end of 2023.
Brooklyn ImmunoTherapeutics, focused on cytokine and gene editing therapies, will present at the SNN Virtual Investor Conference from August 17-19, 2021. CEO Howard J. Federoff will deliver a corporate overview on August 18 at 12:00 PM ET. Investors can schedule one-on-one meetings during the event. Brooklyn's lead program, IRX-2, is in Phase 2B trials for head and neck cancer, showing promise in previous trials. The company is advancing multiple therapies for various conditions, including cancer and rare genetic diseases. More information can be found on their official website.
BROOKLYN, N.Y., July 23, 2021 - Brooklyn ImmunoTherapeutics (NYSE American: BTX) announced the granting of stock options to Jay Sial. He received a non-qualified stock option for 71,000 shares and a restricted stock unit (RSU) for 35,700 shares. The RSU will vest in four equal installments over four years, while the stock option will vest over three years with an exercise price tied to the stock's closing price on the grant date. Both awards are part of Brooklyn's 2021 Inducement Stock Incentive Plan.
Brooklyn ImmunoTherapeutics (BTX) has completed its acquisition of Novellus Therapeutics for $125 million, comprising $23 million in cash and over 7 million shares. This acquisition enhances Brooklyn's capabilities in gene editing, cell therapy, and cytokine programs. Following the transaction, Brooklyn retains $25 million in cash, projected to cover operations until 2023. The deal also eliminates prior financial obligations to Novellus, while Brooklyn gains a 25% equity stake in NoveCite, focusing on MSC products for ARDS. A conference call is scheduled to discuss further details.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) has appointed Jay Sial as its Chief Administrative Officer, effective July 15, 2021. With extensive experience in financial management across various health systems, Sial aims to leverage his expertise to advance the company's mission in cytokine and gene editing therapies for cancer and blood disorders. The company is currently studying the efficacy of its lead program IRX-2 in head and neck cancer, which has shown positive survival benefits in a Phase 2A trial.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) announced that CEO Howard J. Federoff will present at the Access to Giving Virtual Investor Conference from July 13-15, 2021. His presentation is scheduled for July 15 at 9:00 AM ET. The company focuses on cytokine and gene editing therapies for cancer and other diseases. Notably, their leading program, IRX-2, is under evaluation for safety and efficacy in treating head and neck cancer, showing promising overall survival benefits in a Phase 2A trial. Further studies are anticipated for other solid tumor indications.