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D. Boral Capital analyst Jason Kolbert maintains Medicus Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDCX#NASDAQ">MDCX</a>) with a Buy and maintains $14 price target.

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D. Boral Capital Maintains Buy on Medicus Pharma, Maintains $14 Price Target

The U.S. Dollar Index Spot slipped below 98 points for the first time in over three years on Monday, while the 10-year Treasury yields were steady around 4.35%. Experts describe this divergence as the measure of stress in markets."
What Happened: The U.S. Dollar Index slipped 1.20% to 98.211 during the publication of this article. However, its day range stood between 97.921 — 99.208 on Monday, according to the TradingView data.
Historical data shows that the dollar index last slipped below the 98 point mark to 97.79 as of March 30, 2022, closing. Whereas, the 10-year Treasury bond yielded 4.35%.
Jim Bianco, the president and founder of Bianco Research LLC., highlighted this divergence in an X post and called it a "measure of stress in markets."
"Higher rates are not supporting the dollar right now. This means they might have to go a lot higher to stop the dollar from falling," he added.
The relationship between higher yields and higher dollar value exists because the dollar value generally appreciates when foreign investors buy U.S. dollar-denominated instruments, especially the risk-free Treasury bonds. However, this divergence, as shared by Bianco in the given chart, raises concerns.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">1/2 The breaking of this relationship is a measure of stress in markets &#8230; it continues to widen.(Higher rates are not supporting the dollar right now. This means they might have to go a lot higher to stop the dollar from falling.) <a href="https://t.co/PRj6mYNu0J">pic.twitter.com/PRj6mYNu0J</a>
&mdash; Jim Bianco (@biancoresearch) <a href="https://twitter.com/biancoresearch/status/1914160730535756287?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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Meanwhile, economist Peter Schiff underscored that the dollar was 11% lower since President Donald Trump's inauguration day and 6% since the "so-called" Liberation Day, when the reciprocal tariffs against the U.S. trading partners were announced.
"Trump&#8217;s economic team assured us that foreigners would pay our tariffs, in part because their currencies would fall against the dollar. Instead, a collapsing dollar adds to our cost," he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The U.S. Dollar Index has a 97 handle, down 11% since Trump took office (6% since Liberation Day.) Trump&#39;s economic team assured us that foreigners would pay our tariffs, in part because their currencies would fall against the dollar. Instead a collapsing dollar adds to our cost.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1914249859353264212?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/global/25/04/44891949/xi-jinpings-china-pledges-retaliation-against-countries-isolating-beijing-by-giving-into-trump-admini">Xi Jinping&#8217;s China Pledges Retaliation Against Countries Isolating Beijing By Giving Into Trump Administration&#8217;s &#8216;Unilateral Bullying,&#8217; Says It Will &#8216;Never Accept It&#8217;</a>
Why It Matters: Additionally, a recent study released last week, titled ‘<a href="https://www.benzinga.com/government/regulations/25/04/44858165/policy-push-vs-market-pull-dollar-under-pressure-as-reserve-curren">Dollar Upheaval: This Time is Different</a>,' highlights that "Between April 4 and April 14, the U.S. dollar depreciated by 3.6%." 
"Normally, in times of global volatility… the dollar appreciates as dollar-denominated assets benefit from a flight to safety. Not this time around," the note stated.
The dollar&#8217;s surprising depreciation indicates a divergence from typical market behavior. "If U.S. Treasuries are no longer viewed as the world&#8217;s preferred safe asset, then the status of the dollar as the world&#8217;s reserve currency may be called into question," the note stated.
Meanwhile, Chatham House expert David Lubin highlighted in another note that "policy push" from Trump's administration aims to weaken the dollar permanently against other currencies,
"Undermining the dollar&#8217;s global status would not only transmit huge amounts of additional uncertainty to the global economy, but would be a needless act of self-harm for the U.S.," cautioned Lubin.
Price Action: The dollar index was down 9.49% on a year-to-date basis. The WisdomTree Bloomberg US Dollar Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USDU#NYSE">USDU</a>) was 5.82% YTD, whereas, Invesco DB US Dollar Index Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) dropped 7.99% in 2025.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Monday. The SPY was down 1.32% to $519.46, while the QQQ declined 1.54% to $437.26, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44892375/dean-of-valuation-aswath-damodaran-warns-buying-the-dip-akin-to-catching-a-falling-">Dean Of Valuation Aswath Damodaran Warns Buying The Dip Akin To Catching A Falling Knife, Says It Takes A &#8216;Stronger Stomach&#8217; Than Most Have</a></li>
</ul>

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PowerShares DB US Dollar Index Bullish Fund

Dollar Slips To A Three-Year Low Below 98-Mark: 'Higher Rates Are Not Supporting The Dollar,' Says Expert

Excelerate Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EE#NYSE">EE</a>) (Excelerate or the Company) today reported preliminary estimated financial results for the first quarter ended March 31, 2025.
PRELIMINARY ESTIMATED Q1 2025 FINANCIAL RESULTS
<ul>
<li>Income before taxes expected to be in the range of $52-59 million for the first quarter</li>
<li>Adjusted EBITDA expected to be in the range of $96-101 million for the first quarter</li>
<li>Cash and cash equivalents expected to be between $600-620 million as of March 31, 2025, which does not include approximately $175.5 million of net proceeds received on April 2, 2025 from the Company's public offering of Class A common stock</li>
<li>All $350 million of the Revolving Credit Facility was undrawn and available for borrowing as of March 31, 2025</li>
</ul>

CORRECTION: Excelerate Energy Expects Q1 Adj. EBITDA To Be $96M-$101M; Sees Q1 Income Before Taxes Between $52M-$59M

DA Davidson analyst Gil Luria downgrades Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) from Neutral to Underperform and announces $200 price target.

Downgrades

DA Davidson Downgrades Salesforce to Underperform, Announces $200 Price Target

Date: 21.04.2025&nbsp; Press Release No. 10/2025-26&nbsp; CCI Approves Google's Settlement Proposal in Android TV Case&nbsp; 1. The Competition Commission of India (Commission), in terms of Section&nbsp; 48A (3) of the Competition Act, 2002 (the 'Act'), and the Competition&nbsp; Commission of India (Settlement) Regulations, 2024 (‘Settlement&nbsp; Regulations'), vide majority order, has agreed to the Settlement Proposal&nbsp; of Google in the Android TV case.&nbsp; 2. The case originated from the Information filed by two individuals, namely&nbsp; Mr. Kshitiz Arya and Mr. Purushottam Anand under Section 19(1)(a) of&nbsp; the Act, 2002 against Google LLC, Google India Private Limited, Xiaomi&nbsp; Technology India Private Limited and TCL India Holding Private Limited&nbsp; for alleged contravention of various provisions of the Act.&nbsp; 3. The gist of the allegation was that Google misused its dominant position&nbsp; by enforcing restrictive agreements on OEMs, including compulsory&nbsp; bundling of the Play Store with Android TV OS and preventing the use or&nbsp; creation of rival forked Android versions through its Anti-Fragmentation&nbsp; Agreements. These practices allegedly blocked market access, curbed&nbsp; competition, and placed unrelated obligations on Original Equipment&nbsp; Manufacturers (‘OEMs'), ultimately stifling innovation and violating&nbsp; provisions of Section 4 of the Act.&nbsp; &nbsp;
 2&nbsp; 4. The Commission formed a prima facie view that Google has contravened&nbsp; various provisions of Sections 3(4) and 4 of the Act and directed the DG&nbsp; to cause an investigation to be made under the provisions of Section 26(1)&nbsp; of the Act.&nbsp; 5. The investigation concluded that Android Smart TV OS has a dominant&nbsp; position in the relevant market of ‘licensable Smart TV device operating&nbsp; system in India' and Google Play Store is in a dominant position in the&nbsp; ‘Market for App Store for Android Smart TV OS in India'. It found that&nbsp; Google's agreements—Television App Distribution Agreement (‘TADA') and&nbsp; Android Compatibility Commitments (‘ACC')—executed together, imposed&nbsp; unfair terms by requiring the pre-installation of its full app bundle Google&nbsp; TV Services, preventing OEMs from developing or using Android forks,&nbsp; and hindering innovation. These agreements extended across entire&nbsp; device portfolios and included the tying of services like YouTube with the&nbsp; Play Store, strengthening Google's market dominance and breaching&nbsp; several provisions of Section 4 of the Act. The allegation of refusal to deal&nbsp; and exclusive supply under Section 3(4) was not substantiated.&nbsp; 6. Google filed a Settlement Application under Section 48A of the Act, read&nbsp; with the Settlement Regulations. The Commission invited objections and&nbsp; suggestions in terms of regulation 5 of the Settlement Regulations on the&nbsp; settlement proposal from 45 concerned parties. The Commission&nbsp; considered the settlement proposal and observed that under the "New&nbsp; India Agreement," Google will provide a standalone license for the Play&nbsp; Store and Play Services for Android smart TVs in India, thereby removing&nbsp; the requirement to bundle these services or impose default placement
 3&nbsp; conditions. Additionally, by waiving the need for a valid ACC for devices&nbsp; shipped into India that do not include Google apps, OEMs can now sell&nbsp; and develop incompatible Android devices without violating the TADA.&nbsp; 7. Consequently, considering the material on record and the assessment of&nbsp; the Settlement Proposal after taking into consideration the nature, gravity,&nbsp; and impact of the contraventions, the Commission agrees to the proposal&nbsp; for settlement in terms of Section 48A (3) of the Act and the Settlement&nbsp; Regulations. The Final Settlement Amount, after applying a Settlement&nbsp; Discount of 15%, is Rs. 20.24 crore.&nbsp; 8. A copy of the public version of the order passed is available on the CCI&nbsp; website at <a href="https://www.cci.gov.in/antitrust/orders/details/1182/0. " title="https://www.cci.gov.in/antitrust/orders/details/1182/0. ">https://www.cci.gov.in/antitrust/orders/details/1182/0. </a> &#x2A;&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;
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Competition Commission Of India Approves Google's Settlement Proposal In Android TV Case

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/18064931/TH-International-0418-900x600-1.png" alt="" class="wp-image-11031" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/18064931/TH-International-0418-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/18064931/TH-International-0418-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/18064931/TH-International-0418-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The operator of the Tim Hortons chain in China sold 22 million bagel-based products last year, and said it is aiming to return to revenue and same-store sales growth in 2025
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul>
<li>TH International's revenue fell 12% in the fourth quarter, moderating from a 17% decline in the previous quarter</li>
<li>The company is targeting a return to revenue growth and achieving breakeven on an EBITDA basis this year</li>
</ul>
The Tim Hortons chain was historically known for donuts, founded in 1964 by its namesake former ice hockey star who also presumably loved the sugary snack. But after yanking the company's core product from most of its menus, the company's China iteration, Tims China, has found better results with bagels, which look similar but lack the sweetness.
Tims China operator&nbsp;TH International Ltd.&nbsp;(THCH.US) has had it rough lately, struggling to differentiate itself from a crowded and fiercely competitive field of premium coffee sellers including everyone from&nbsp;Starbucks&nbsp;(SBUX.US) to local sensations&nbsp;Luckin&nbsp;(LKCNY.US) and&nbsp;Cotti. But the company may have finally found its answer in bagels, based on its&nbsp;<a href="https://www.globenewswire.com/news-release/2025/04/15/3061592/0/en/Tims-China-Announces-Fourth-Quarter-and-Full-Year-2024-Financial-Results.html">latest financial report</a>&nbsp;that mentions the bread-based Western staple numerous times and shows that Tims China may have finally turned a corner in the fourth quarter.
The company said it sold 22 million bagel and bagel sandwich products last year, which averages more than 60 sales per day for each of its roughly 950 stores during the year – not bad for this relatively new differentiator.
Investors seemed to like the chain's new China flavor, sending the company's embattled stock up 18% in three trading days after the announcement this week. Still, the stock has lost about half of its value over the last year and currently trades at a watered-down price-to-sales (P/S) ratio of just 0.45. By comparison, Luckin and&nbsp;Yum China&nbsp;(YUMC.US; 9987.HK), which is also moving aggressively into premium coffee, trade at much higher multiples of 2.08 and 1.52, respectively.
In addition to finding success in bagels, which it serves not only with traditional toppings like cream cheese, but also as a bread substitute for various sandwich-type products, TH International has also found better results with franchising than self-operated stores. That's different from most other restaurant operators, whose self-operated stores are typically more profitable, but choose to also use franchising to expand more quickly and conserve capital.
CFO Li Dong said TH International's franchise business currently contributes "steady cash flows and profitability," even as the company's self-operated stores continue to lose money, resulting in overall operating losses.
As its situation improves, the company is also holding out big hopes for 2025. It is targeting a return to same-store sales and revenue growth, after the important metrics turned negative in early 2024 and remained that way for the rest of the year. It is also aiming to achieve breakeven on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis for all of 2025, which would represent the first time a major profit metric wasn't negative.
"Moving into the spring of 2025, we look forward to regaining growth on our top line and to continue our expansion with plans to open at least 200 stores this year, the majority of which will be through our successful subfranchise (business) while maintaining our focus on operational excellence and profitability," said CEO Lu Yongchen.
<h4 class="wp-block-heading">Third-quarter bottom</h4>
Broadly speaking, TH International's latest results show the company's recent downturn bottomed out in last year's third quarter and it began recovering at the end of the year as it completed some major adjustments to its self-operated stores and its franchise business gained momentum. Its revenue fell 12% to 333 million yuan ($45.6 million) during the quarter from 378 million yuan a year earlier, improving from a 17% decline in the previous quarter.
The story was similar for the company's same-store sales, whose 13.3% decline in the fourth quarter represented an improvement from the 21.7% decline in the third quarter.
The company passed a symbolic milestone during the fourth quarter as it opened its 1,000th&nbsp;store in Shanghai, bringing its total to 1,022 by the end of last year. Six years after coming to China, TH International has a relatively large footprint in the country, with stores in 82 cities.
A deeper dive into the overall store count figure shows the company was aggressively closing underperforming self-operated stores during the first three quarters of last year, with the figure dropping from 619 at the end of 2023 to 564 at the end of last September. But the trend returned to a positive direction in the fourth quarter, as its self-operated store count rose to 576 at the end of last year.
Meantime, the company's franchised store count has grown steadily without pause, rising from 283 at the end of 2023 to 446 at the end of last year, making up 44% of its total. And as we've previously noted, CEO Lu said a majority of the new store openings this year will come from the franchised business, though he wasn't more specific.
While the franchised business is more profitable and looks on track to overtake the company's self-operated stores in terms of store count, the former contributes far less revenue than the latter. TH International said its self-operated stores generated 270 million yuan in the fourth quarter, down 17.7% year-on-year, but still making up 81% of its total. By comparison, its "other revenue," which comes mostly from the franchised store business, rose 25.8% year-on-year during the fourth quarter to 62.5 million yuan, even though it made up just 19% of its total.
The company has also been relatively strong in terms of cost controls, with store costs and expenses down 18.8% year-on-year in the fourth quarter, and marketing expenses down by an even larger 35%.
The combination of cost controls, closure of underperforming stores and new success with its bagel-based formula helped TH International narrow its operating loss to 117 million yuan from 218 million yuan a year earlier, and reduce its net loss to 132 million yuan from 311 million yuan over that time. CFO Li also noted the company is "no longer cash burning like in the past years," and that it has ample funds after receiving new financing from its founding shareholders.
All those signals seem to show that TH International may be emerging from a difficult period as a more focused company that can operate profitably in the not-too-distant future. Now, it just needs to show it can maintain its recent positive momentum in the face of fierce competition and headwinds created by China's slowing economy.

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Tim Hortons China Operator Finds Gamechanger In Bagels

Excelerate Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EE#NYSE">EE</a>) ("Excelerate" or the "Company") today announced that Excelerate Energy Limited Partnership (the "Issuer"), a subsidiary of Excelerate, has commenced an offering (the "Offering") of $700 million in aggregate principal amount of unsecured senior notes due 2030 (the "2030 Notes"). Excelerate intends to use the net proceeds from the Offering, together with the net proceeds from the equity offering previously consummated by the Company and cash on hand, to (i) fund the consideration payable by the Company in the previously-announced pending acquisition of New Fortress Energy, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) business in Jamaica for $1.055 billion, subject to certain adjustments, (ii) repay the outstanding borrowings under the Company's term loan facility, which were $163.6 million as of December 31, 2024, and (iii) pay related fees and expenses.
The 2030 Notes will be guaranteed by certain direct and indirect restricted subsidiaries of the Issuer.

Offerings

Excelerate Energy Announces Proposed Offering Of $700M Of Senior Notes Due 2030

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)&nbsp;disclosed in its 2024 annual report last week that the <a target="_blank" href="https://www.benzinga.com/topic/tsm" rel="noreferrer noopener">U.S. semiconductor technology</a> embargo challenged its ability to ensure complete compliance with the rules.
The Taiwanese contract chipmaker also held the semiconductor sanctions responsible for leading to higher violations of semiconductor sanctions by business partners to gain access to <a target="_blank" href="https://investor.tsmc.com/english/annual-reports" rel="noreferrer noopener">the advanced technology</a>.
Taiwan Semiconductor disclosed it could not guarantee complete compliance.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44852860/nvidia-lam-research-and-marvell-to-face-least-impact-from-tariffs-while-intel-and-arm-could-suffer-more-bofa-analyst" rel="noreferrer noopener">These Semiconductor Stocks To Face Least Tariffs Impact Compared To Intel</a>
Taiwan Semiconductor partners&nbsp;Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)&nbsp;and&nbsp;MediaTek Inc co-developed mobile chips for phone makers, including&nbsp;Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>), as per a Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-04-21/tsmc-warns-of-limits-of-ability-to-keep-its-ai-chips-from-china?srnd=phx-technology&amp;sref=TBDibEcD" rel="noreferrer noopener">report</a>. However, a 2024 report by TechInsights&nbsp;revealed&nbsp;the presence of Taiwan Semiconductor technology in Huawei Technology&#8217;s Ascend 910B AI chip.
The U.S. has restricted Huawei&#8217;s access to advanced semiconductor technology since 2020, citing national security threats.
Taiwan Semiconductor disclosed in its annual report that it took every precaution, including restricting shipment to its trading partners, to ensure compliance with the U.S. sanctions.
Taiwan Semiconductor&#8217;s <a target="_blank" href="https://www.benzinga.com/25/04/44857887/taiwan-semiconductor-q1-surges-41-in-sales-boosted-by-ai-chip-demand-expanded-margins" rel="noreferrer noopener">first-quarter revenue</a> rose 41.6% to $25.53 billion, topping the analyst consensus estimate of $23.92 billion, despite a smartphone seasonality impact on sales.
The second-quarter revenue guidance predicts $28.4 billion-$29.2 billion versus the $26.79&nbsp;billion analyst estimate, with strong demand for 3-nm and 5-nm technologies.
In March, Taiwan Semiconductor announced&nbsp;an additional&nbsp;$100 billion&nbsp;investment&nbsp;in U.S. chipmaking (on top of $65 billion in April 2024). The investment followed&nbsp;President Donald Trump&#8217;s verbal attacks&nbsp;on Taiwan &#8220;for stealing&#8221; the U.S. semiconductor business and generating massive trade deficits for Washington.
Price Action:&nbsp;TSM stock is down by 1.91% to $148.85 premarket at the last check Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/04/44851295/asml-cfo-incorporates-tariff-impact-in-outlook-reveals-strong-demand-for-advanced-euv-and-high-na-systems" target="_blank" rel="noreferrer noopener">ASML CFO Incorporates Tariff Impact In Outlook, Reveals Strong Demand For Advanced EUV And High NA Systems</a></li>
</ul>
Photo by Sundry Photography on Shutterstock

Asia

Tech

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XIACF

XIACY

Taiwan Semiconductor Confronts Challenges Of US Chips Sanction On China

Native health advocates are raising alarms over a proposed federal budget that reduces funding to the Indian Health Service (IHS). In a letter dated April 17 sent to the Health and Human Services Secretary Robert F. Kennedy, Jr., the National Indian Health Board (NIHB) criticized the planned cuts as dangerous and urged urgent rectification.
What Happened: The Office of Management and Budget's (OMB) proposed adjustments include almost a 30% reduction to the IHS base budget from FY 2025 estimates, amounting to approximately $900 million in cuts for FY 2026. The plan also removes advance appropriations, stops funding for water and sanitation and healthcare facility construction, restricts self-governance for new Tribes, and eradicates services across the board.
"We implore you to immediately appeal the proposed reductions… mirroring the swift and decisive action taken by the Secretary of the Interior," the NIHB urged <a href="https://ncuih.org/2025/04/18/ncuih-urges-hhs-to-reconsider-proposed-budget-cuts-to-indian-health-service-and-hhs/">in the letter</a>.
See Also: <a href="https://www.benzinga.com/25/03/44514142/rfk-jr-to-announce-10000-job-cuts-shut-regional-agencies-in-a-major-health-department-overhaul-report">RFK Jr. To Cut 10,000 Jobs, Shut Regional Agencies In Major Health Department Overhaul: Report</a>
Why It Matters: The IHS operates with a 30% vacancy rate at the moment, the letter states. It adds: "if each facility across the IHS lost just one physician-level provider, 43% of those facilities would have to close their doors entirely."
The letter calls the proposed cuts as a direct threat to life. "This loss of funding will lead to deaths in our communities from preventable medical incidents, such as precipitous births, cardiac events, untreated diabetes complications, and preventable suicides," it warns.
The NIHB clarifies that these are not hypotheticals—they are documented outcomes from past underfunding. "Before IHS had advance appropriations… members of our families died from these exact types of preventable emergencies," the letter said.
Secretary Kennedy has previously said Indian health is a top priority. With more than 574 federally recognized Tribal Nations relying on IHS, the NIHB is calling on him to that stay true to that promise by declining the OMB's proposed reductions.
"The funding to the IHS is not an arbitrary budget number," the NIHB wrote. "These figures represent funding to keep doctors and nurses in our facilities nationwide."
Kennedy Jr.&#8217;s <a href="https://www.benzinga.com/25/04/44782857/rfk-jrs-massive-federal-health-workforce-cut-could-take-decades-to-rebuild-warn-experts-we-cannot-accurately-assess-whether-we-are-truly-making-america-healthier">mass layoffs have concerned experts</a>, disrupting crucial health data collection and research, including studies on cancer in firefighters and the transmission of HIV and syphilis from mothers to babies. Attempts to monitor and contain disease outbreaks—like the country&#8217;s worst measles outbreak in decades—have also been impacted.
Earlier this month, Kennedy <a href="https://www.benzinga.com/25/04/44777309/health-secretary-kennedy-raises-concerns-about-taxpayer-funded-care-for-risky-behaviors">stirred controversy</a> in an interview with CBS News, where he asked whether taxpayers should foot the bill for those who smoke regularly or often eat unhealthy foods, like doughnuts.
Read Next: <a href="https://www.benzinga.com/news/25/04/44889497/its-offensive-and-just-plain-wrong-trumps-budget-proposal-to-eliminate-head-start-affecting-over-1-million-p">&#8216;It&#8217;s Offensive And Just Plain Wrong&#8217;—Trump&#8217;s Budget Proposal To Eliminate Head Start, Affecting Over 1 Million Parents</a>
Image Via Shutterstock

Health Care

Native Health Leaders Slam Trump Administration's Proposed $900 Million Cuts To Indian Health Service: Call Plan 'Dangerous' In Letter To RFK Jr.

Highly promising survival data from OVATION 2 Study of treatment of newly diagnosed advanced ovarian cancer to be presented&nbsp;
Initiation of Phase 3 trial sites underway for pivotal study of IMNN-001 following alignment on protocol with FDA
LAWRENCEVILLE, N.J., April 21, 2025 (GLOBE NEWSWIRE) -- IMUNON, Inc. (NASDAQ:<a href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>), a clinical-stage company in Phase 3 development of its DNA-mediated immunotherapy, today announced that an abstract highlighting new, highly encouraging, Overall Survival data from the Phase 2 OVATION 2 Study of IMNN-001 to treat women with newly diagnosed advanced ovarian cancer was accepted for oral presentation at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting. The meeting is being held May 30 - June 3, 2025, in Chicago, Illinois and virtually. IMUNON recently announced alignment with the U.S. Food and Drug Administration (FDA) on the study protocol for the Phase 3 OVATION 3 clinical trial of IMNN-001 and has initiated trial site activation.
IMNN-001, based on the company's proprietary TheraPlas&#xAE; technology platform, is an interleukin-12 (IL-12) DNA plasmid vector encased in a nanoparticle delivery system, enabling cell transfection followed by persistent, local production and secretion of the IL-12 protein in the tumor microenvironment. IL-12 is a powerful pluripotent cytokine known for inducing strong anti-cancer immunity by promoting T-lymphocyte and natural killer cell proliferation while inhibiting tumor-mediated immune suppression. IMNN-001 is the first and only IL-12 immunotherapy to achieve a clinically effective response including overall survival benefit in frontline treatment in patients with advanced (Stage III/IV) ovarian cancer.
"We are pleased to have the opportunity to present new data from the Phase 2 OVATION 2 Study of IMNN-001 in an oral presentation at ASCO's Annual Meeting," said Stacy Lindborg, Ph.D., president and chief executive officer of IMUNON. "This recognition underscores the significant potential of IMNN-001 to transform the treatment of women with newly diagnosed advanced ovarian cancer, an underserved population that has not seen treatment innovation in over 25 years, as we advance our Phase 3 program. We look forward to sharing more about our progress during this pivotal stage of development."
Details for the oral presentation are as follows:
Presentation Details
Title: A Phase I/II study of the safety and efficacy of intraperitoneal IMNN-001 in combination with neoadjuvant chemotherapy (NACT) of Paclitaxel and Carboplatin in Patients Newly Diagnosed with Advanced Epithelial Ovarian Cancer (EOC): Updated survival analysts from OVATION-2 trial
Session Title: Rapid Oral Abstract – Gynecologic Cancer
Session Date: June 3, 2025
Session Time: 8:00 AM-9:30 AM CDT

Biotech

IMNN

Imunon Announces That An Abstract Highlighting New Overall Survival Data From Phase 2 Ovation 2 Study Of Imnn-001 To Treat Women With Newly Diagnosed Advanced Ovarian Cancer Was Accepted For Oral Presentation at the 2025 American Society of Clinical Oncology Annual Meeting May 30 - June 3, 2025, In Chicago, Illinois

<h3>Gainers</h3>
<ul>
<li>Color Star Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADD#NASDAQ">ADD</a>) shares increased by 27.8% to $0.99 during Monday's pre-market session. </li>
<li>Lobo EV Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOBO#NASDAQ">LOBO</a>) stock increased by 16.42% to $0.85. The company's market cap stands at $7.3 million. </li>
<li>Soho House (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHCO#NYSE">SHCO</a>) stock rose 13.11% to $5.78. The company's market cap stands at $1.1 billion. </li>
<li>QVC Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QVCGA#NASDAQ">QVCGA</a>) shares rose 10.47% to $0.15. The company's market cap stands at $60.3 million. </li>
<li>Damon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMN#NASDAQ">DMN</a>) stock rose 10.29% to $0.0. The company's market cap stands at $2.9 million. </li>
<li>Ethan Allen Interiors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETD#NYSE">ETD</a>) stock moved upwards by 9.35% to $28.99. The market value of their outstanding shares is at $737.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Lixiang Education Hldg (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXEH#NASDAQ">LXEH</a>) shares declined by 47.1% to $3.62 during Monday's pre-market session. The market value of their outstanding shares is at $4.2 million. </li>
<li>Thunder Power Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIEV#NASDAQ">AIEV</a>) shares fell 44.09% to $0.08. The company's market cap stands at $3.8 million. </li>
<li>MKDWell Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKDW#NASDAQ">MKDW</a>) shares decreased by 13.91% to $0.2. The market value of their outstanding shares is at $28.7 million. </li>
<li>NWTN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWTN#NASDAQ">NWTN</a>) shares declined by 12.25% to $0.36. The market value of their outstanding shares is at $104.2 million. </li>
<li>American Outdoor Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AOUT#NASDAQ">AOUT</a>) shares decreased by 9.61% to $9.41. The market value of their outstanding shares is at $119.8 million. </li>
<li>1-800-Flowers.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLWS#NASDAQ">FLWS</a>) shares decreased by 8.84% to $4.85. The company's market cap stands at $309.6 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Consumer Discretionary Stocks Moving In Monday's Pre-Market Session

<h3>Gainers</h3>
<ul>
<li>Aptevo Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APVO#NASDAQ">APVO</a>) stock rose 39.2% to $1.2 during Monday's pre-market session. The market value of their outstanding shares is at $3.8 million. </li>
<li>Portage Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTG#NASDAQ">PRTG</a>) shares moved upwards by 13.26% to $8.88. The company's market cap stands at $14.6 million. </li>
<li>Sunshine Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFM#NASDAQ">SBFM</a>) stock moved upwards by 12.79% to $1.41. The company's market cap stands at $5.1 million. </li>
<li>Invivyd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVVD#NASDAQ">IVVD</a>) shares rose 12.6% to $0.57. The company's market cap stands at $68.8 million. </li>
<li>ProPhase Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRPH#NASDAQ">PRPH</a>) stock increased by 11.07% to $0.32. The market value of their outstanding shares is at $9.6 million. </li>
<li>Alvotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALVO#NASDAQ">ALVO</a>) shares increased by 10.97% to $9.2. The market value of their outstanding shares is at $2.7 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Vincerx Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINC#NASDAQ">VINC</a>) stock fell 48.3% to $0.14 during Monday's pre-market session. </li>
<li>Adagio Medical Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADGM#NASDAQ">ADGM</a>) shares decreased by 23.02% to $1.37. The market value of their outstanding shares is at $21.1 million. </li>
<li>China SXT Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SXTC#NASDAQ">SXTC</a>) stock fell 17.6% to $1.78. The market value of their outstanding shares is at $24.4 million. </li>
<li>Cuprina Holdings (Cayman) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CUPR#NASDAQ">CUPR</a>) shares fell 16.17% to $4.15. The market value of their outstanding shares is at $87.1 million. </li>
<li>Sensei Biotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNSE#NASDAQ">SNSE</a>) stock decreased by 15.79% to $0.34. The market value of their outstanding shares is at $8.5 million. </li>
<li>Redhill Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDHL#NASDAQ">RDHL</a>) stock decreased by 13.26% to $1.96. The company's market cap stands at $3.4 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Health Care Stocks Moving In Monday's Pre-Market Session

<h3>Gainers</h3>
<ul>
<li>Intelligent Living (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILAG#NASDAQ">ILAG</a>) shares moved upwards by 18.7% to $0.43 during Monday's pre-market session. The company's market cap stands at $7.7 million. </li>
<li>Safe Pro Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPAI#NASDAQ">SPAI</a>) stock moved upwards by 17.07% to $2.88. The market value of their outstanding shares is at $43.6 million. </li>
<li>Baiya International Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIYA#NASDAQ">BIYA</a>) stock increased by 15.36% to $3.68. The market value of their outstanding shares is at $46.0 million. </li>
<li>FGI Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGI#NASDAQ">FGI</a>) stock moved upwards by 13.25% to $0.56. The market value of their outstanding shares is at $5.3 million. </li>
<li>LanzaTech Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNZA#NASDAQ">LNZA</a>) shares rose 9.33% to $0.19. The market value of their outstanding shares is at $37.7 million. The company's, Q4 earnings came out 4 days ago. </li>
<li>Orion Group Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORN#NYSE">ORN</a>) stock rose 7.01% to $6.41. The market value of their outstanding shares is at $249.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>American Rebel Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREB#NASDAQ">AREB</a>) shares decreased by 64.7% to $1.82 during Monday's pre-market session. The market value of their outstanding shares is at $1.8 million. </li>
<li>MingZhu Logistics Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YGMZ#NASDAQ">YGMZ</a>) shares decreased by 15.85% to $0.85. The market value of their outstanding shares is at $65.1 million. </li>
<li>Graphjet Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTI#NASDAQ">GTI</a>) shares declined by 14.41% to $0.11. The company's market cap stands at $15.7 million. </li>
<li>Swvl Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWVL#NASDAQ">SWVL</a>) shares declined by 13.75% to $2.51. The market value of their outstanding shares is at $26.9 million. </li>
<li>Zeo Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) stock decreased by 13.11% to $1.52. The company's market cap stands at $21.3 million. </li>
<li>Innovate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VATE#NYSE">VATE</a>) shares fell 13.11% to $5.04. The company's market cap stands at $66.8 million. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Industrials Stocks Moving In Monday's Pre-Market Session

Seaport Global analyst Michael Harrison maintains Element Solutions (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESI#NYSE">ESI</a>) with a Buy and lowers the price target from $34 to $31.

Seaport Global Maintains Buy on Element Solutions, Lowers Price Target to $31

<h3>Gainers</h3>
<ul>
<li>MicroAlgo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) stock moved upwards by 30.8% to $8.87 during Monday's pre-market session. The market value of their outstanding shares is at $88.4 million. </li>
<li>Sagtec Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGT#NASDAQ">SAGT</a>) stock increased by 10.86% to $2.55. The market value of their outstanding shares is at $32.0 million. </li>
<li>Pixelworks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PXLW#NASDAQ">PXLW</a>) shares moved upwards by 10.57% to $0.59. The company's market cap stands at $37.1 million. </li>
<li>Infobird Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IFBD#NASDAQ">IFBD</a>) stock moved upwards by 9.83% to $1.34. The market value of their outstanding shares is at $10.9 million. </li>
<li>Smith Micro Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMSI#NASDAQ">SMSI</a>) stock moved upwards by 9.2% to $1.0. The market value of their outstanding shares is at $17.7 million. </li>
<li>Datavault AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DVLT#NASDAQ">DVLT</a>) stock moved upwards by 6.38% to $0.87. The company's market cap stands at $53.0 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Viavi Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIAV#NASDAQ">VIAV</a>) stock fell 44.2% to $5.5 during Monday's pre-market session. The market value of their outstanding shares is at $1.2 billion. </li>
<li>Baijiayun Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTC#NASDAQ">RTC</a>) stock fell 14.87% to $0.32. The market value of their outstanding shares is at $9.2 million. </li>
<li>SMX (Security Matters) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMX#NASDAQ">SMX</a>) stock declined by 13.48% to $1.99. The market value of their outstanding shares is at $2.3 million. </li>
<li>NOVONIX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVX#NASDAQ">NVX</a>) stock decreased by 12.72% to $1.03. The market value of their outstanding shares is at $163.7 million. </li>
<li>ARB IOT Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBB#NASDAQ">ARBB</a>) shares declined by 9.15% to $0.69. The market value of their outstanding shares is at $18.2 million. </li>
<li>Inuvo (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INUV#AMEX">INUV</a>) shares fell 8.57% to $0.36. The market value of their outstanding shares is at $50.5 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Information Technology Stocks Moving In Monday's Pre-Market Session

Acquisition aims to provide broader access to comprehensive testing and laboratory services for patients and physicians in North Mississippi &nbsp;
BURLINGTON, N.C. (April 21, 2025) –&nbsp;<a href="https://www.labcorp.com/">Labcorp</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LH#NYSE">LH</a>),&nbsp;a global leader of innovative and comprehensive laboratory services, and North Mississippi Health Services announced today that Labcorp has completed its acquisition of North Mississippi Health Services' ambulatory outreach laboratory business and become a referral laboratory for its seven hospitals and clinic laboratories. &nbsp; Through this acquisition, North Mississippi Health Services' patients and providers will have continuity of high-quality laboratory services and access to Labcorp's leading clinical laboratory services, robust data and digital tools.&nbsp;In addition, Labcorp will open three new patient service centers in Tupelo, West Point and Amory by mid-year to increase availability of laboratory services in North Mississippi.&nbsp;

Laboratory Corporation Of America Holdings

Reported April 18, 2025: Labcorp Acquires Select Assets Of North Mississippi Health Services' Ambulatory Outreach Laboratory Business; No Financial Terms Disclosed

Company Completes International Filings for Protection Under Patent Cooperation Treaty for Expanded Global Protection to Rapidly Identify and Map Small Lethal Threats Using AI and Drone Imagery
Safe Pro Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPAI#NASDAQ">SPAI</a>) ("Safe Pro" or the "Company"), a leader in artificial intelligence (AI)-powered defense and security solutions, today announced that it has completed the filing of the national phase patent applications for nearly 50 jurisdictions, claiming priority to International Patent Application No. PCT/US2023/029909, published on March 21, 2024.
The Company's IP portfolio currently includes the awarded <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fsafeprogroup.com%2Fsafe-pro-awarded-us-patent-for-disruptive-ai-drone-imagery-technology-a-groundbreaking-innovation-helping-to-protect-millions-of-lives-globally%2F&amp;esheet=54240804&amp;newsitemid=20250421927903&amp;lan=en-US&amp;anchor=US+Patent+No.+12%2C146%2C729+incorporating+21+claims+made+in+the+Company%26%238217%3Bs+original+patent+application+entitled%2C+%26%238220%3BSystems+and+Methods+for+Detecting+and+Identifying+Explosives.%26%238221%3B&amp;index=1&amp;md5=6d75db99deafa929fc3253423541dc67">US Patent No. 12,146,729 incorporating 21 claims made in the Company's original patent application entitled, "Systems and Methods for Detecting and Identifying Explosives."</a> These claims cover autonomous detection, identification, and labeling of explosives in orthomosaic images using AI processing of drone imagery. Valid until 2043, the patent captures the groundbreaking nature of SpotlightAI&#x2122; and its ability to transform fields ranging from humanitarian demining, agriculture, to national defense and reconstruction. The Company has now expanded its international filings by entering in the national phase of its previously filed (and related) international application filed with the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.wipo.int%2Fportal%2Fen%2F&amp;esheet=54240804&amp;newsitemid=20250421927903&amp;lan=en-US&amp;anchor=World+Intellectual+Property+Organization+%28WIPO%29&amp;index=2&amp;md5=c63d9b6f57f38e5b616b28488a220186">World Intellectual Property Organization (WIPO)</a> under the Patent Cooperation Treaty ("PCT"), in Europe (extended to include Bosnia and Herzegovina), Canada, Australia, New Zealand, Japan, Israel and Ukraine; which covers patent protection rights in 47 jurisdictions.

Safe Pro Group Completes Filing Of National Phase Patent Applications For Nearly 50 Jurisdictions

ELUT

Elutia Initiates EluPro Registry Study To Collect Patient Outcome Data

Chipotle Signs Agreement With Restaurant Operator Alsea To Open Restaurants In Mexico, Beginning With A Location By Early 2026

- Cybin will leverage Osmind's 800-clinic network, point-of-care software, and real-world data to support the commercial preparation for its clinical-stage pipeline -
- Osmind is a leading service provider to psychiatry practices in the U.S. focused on advancing psychiatry through technology and services to bring innovative mental health treatments to patients in need -
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.cybin.com%2F&amp;esheet=54239475&amp;newsitemid=20250416179232&amp;lan=en-US&amp;anchor=Cybin+Inc.&amp;index=1&amp;md5=d22113092709043bd0460cb33277a431">Cybin Inc.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYBN#NYSE">CYBN</a>) (Cboe CA:CYBN) ("Cybin" or the "Company"), a clinical-stage breakthrough neuropsychiatry company committed to revolutionizing mental healthcare by developing new and innovative next-generation treatment options, today announced a strategic partnership with Osmind, a leading service provider advancing psychiatry through technology, services, and real-world evidence to bring innovative mental health treatments to patients in need.
"Preparation for the commercialization of our clinical stage programs is a top priority, and aligning ourselves with Osmind will help us accelerate our goals," said Doug Drysdale, Chief Executive Officer of Cybin. "Osmind's extensive network of over 800 psychiatry clinics in the U.S., combined with our expertise, allows us to align on and prepare for the operational infrastructure needs relevant for interventional treatments. End-to-end mapping in key areas of clinic workflow and patients' journey such as pharmacy, fulfillment, patient access and reimbursement will lay the groundwork for commercialization of our lead clinical programs: CYB003 in Phase 3 development for the adjunctive treatment of major depressive disorder, and CYB004 in a Phase 2 study for generalized anxiety disorder. We look forward to a productive collaboration that leads to meaningful progress in transforming the treatment paradigm for patients with mental health disorders."
With 52.9 million people in the U.S., or nearly one in five Americans1, living with a mental illness, there remains a significant unmet need in addressing the mental health crisis. Many patients do not experience relief with the standard of care, highlighting a need for innovation and improved therapeutic options.
"We are thrilled to partner with Cybin; together, we are aligning incentives across stakeholders to help patients in need," said Jimmy Qian, President of Osmind. "By preparing real-world care settings for next-generation neuropsychiatric interventions, Osmind is reducing friction and promoting practice success for clinicians, increasing access for patients, while supporting Cybin's market penetration and commercial launch. Osmind and Cybin share a common mission to scale cutting-edge mental health treatments to as many patients as possible. We are delighted to support Cybin's differentiated research, development, and commercialization efforts."
Opportunity to Address Unmet Needs in Mental Health
<ul>
<li>Globally, it is estimated that over 300 million people suffer from major depressive disorder (MDD)2. The global market size for major depressive disorder was estimated at $5.15 billion in 2024 and is projected to rise to $11.09 billion by 2033.3</li>
<li>An estimated 21 million Americans experienced at least one major depressive episode in 2021.4 About two-thirds of patients with MDD do not experience relief with initial antidepressant treatment.5</li>
<li>It is estimated that 6.8 million people in the U.S. suffer from generalized anxiety disorder ("GAD").6 Approximately 50% of patients with GAD are unresponsive to first line treatment with selective serotonin reuptake inhibitors ("SSRIs") and serotonin-norepinephrine reuptake inhibitors ("SNRIs").7</li>
</ul>

Contracts

CYBN

Cybin Entyers Strategic Partnership With Osmind To Help Bring Innovative Mental Health Treatments To Patients In Need

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