Smederevac/iStock via Getty ImagesALX Oncology Holdings Inc. (NASDAQ:ALXO) develops immuno-oncology treatments to improve the immune response against cancer. The company’s leading product candidate is Evorpacept [ALX148], a first-in-class CD47 inhibitor that blocks cancer cells' “don’t eat me” signal. Unlike standard CD47 inhibitors, Evorpacept has an inactive Fc domain that reduces side effects. ALXO’s pipeline explores diverse combinations of Evorpacept with chemotherapy, targeted agents, and checkpoi ...

Core Viewpoint - Greenridge Exploration Inc. has signed a non-binding letter of intent to acquire ALX Resources Corp., aiming to create a leading Canadian uranium exploration company with a diversified portfolio of strategic metals projects [4][5]. Group 1: Proposed Transaction Details - The acquisition will involve Greenridge acquiring all outstanding common shares of ALX, resulting in a combined entity with interests in 28 projects covering approximately 493,000 hectares [4][5]. - The transaction is characterized as an arm's length deal, enhancing the capital markets profile with an expected market capitalization of approximately C$35 million [5]. - ALX shareholders will receive a significant premium of 130% based on the 20-day VWAP of ALX shares, with an exchange ratio of 0.045 Greenridge shares for each ALX share [8][19]. Group 2: Strategic Rationale - The merger will consolidate one of the largest uranium property portfolios in the Athabasca Basin, including significant projects like Black Lake and Gibbons Creek, which have shown promising uranium mineralization [5][9]. - The combined entity will also have exposure to lithium, nickel, copper, and gold properties, diversifying its mineral portfolio [5][14]. - The transaction is expected to yield material cost savings through the consolidation of corporate operations and investor relations activities [5]. Group 3: Management and Governance - Post-transaction, the Board of Directors will include members from both companies, with Warren Stanyer from ALX joining as President and Director of Greenridge [18]. - Russell Starr will continue as CEO of the combined entity, ensuring continuity in leadership [18]. Group 4: Project Portfolio - ALX's uranium project portfolio includes key properties such as Hook-Carter, Black Lake, and Gibbons Creek, which are located in prime uranium exploration districts [9][28]. - The combined portfolio will enhance exploration capabilities and discovery potential across various strategic minerals [5][9].

Core Insights - ALX Resources Corp. has completed reconnaissance prospecting and sampling programs at its 100%-owned Cannon Copper Project, located in Ontario, Canada, which includes the historic Cannon Copper Mine site [2][3]. Group 1: Prospecting and Sampling Programs - The 2024 prospecting and sampling programs were conducted in two phases during June and August, focusing on collecting mineralized rock samples and applying modern geochemical analysis [3][10]. - A total of 22 rock samples were collected, with a notable grab sample returning 1.44% copper, while results from the August samples are still pending [3][10]. - The programs also involved locating historical drill holes, with 9 successfully identified, and conducting a Soil Gas Hydrocarbon (SGH) sampling survey, which collected 176 samples [3][11]. Group 2: Geophysical Studies - The 2024 studies included Acquired Inductively Induced Polarization (AIIP) and Structural Complexity (SC) analyses, which identified a broad exploration target area around the known mineralized trend [5][6]. - The AIIP processing algorithm applied to 2021 VTEM data revealed subtle effects correlating with low resistivities, particularly in the central region of the project [6][9]. - The SC study outlined a structurally complex target area of approximately 2.9 square kilometers, which is crucial for identifying potential mineral deposits [7][9]. Group 3: Historical Context and Future Plans - The Cannon Copper Project is located in a historically rich copper mining district, with past production from 1966 to 1972, and a historical mineral resource estimate of 415,000 tonnes grading 1.8% copper [14]. - The company believes that the historical mine workings may indicate a larger, unexplored mineralizing system, with plans to identify drill targets and apply for an exploration permit [13][14].

Markets soared today on news that the Federal Reserve believes now is the time to start cutting interest rates after several years of high inflation.With the possibility of multiple rate cuts back on the table this year, Real Estate Investment Trusts (REITs) may stand to benefit the most as these equities rely on debt to finance their operations and acquire properties.Seeing as rate cuts would help to stabilize their operating environment here are three REITs to consider that all sport a Zacks Rank #1 (Stro ...

Alexander's (ALX) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a changing ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, August 9th:NexPoint Real Estate Finance (NREF) : This real estate investment trust which originate, structure and invest in first mortgage loans, mezzanine loans, preferred equity and alternative structured financings in commercial real estate properties, as well as multifamily commercial mortgage-backed securities, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.8% ov ...

[PART I. Financial Information](index=4&type=section&id=PART%20I.%20Financial%20Information) This section provides a comprehensive overview of the company's financial performance and position for the reporting period [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for the three and six months ended June 30, 2024, and 2023, including balance sheets, income statements, and cash flows, along with explanatory notes Consolidated Balance Sheet Highlights (in millions) | Account | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total Real estate, net | $640.6 | $650.7 | | Cash and cash equivalents | $410.9 | $531.9 | | Total Assets | $1,480.8 | $1,403.7 | | Mortgages payable, net | $1,082.0 | $1,092.6 | | Total Liabilities | $1,268.2 | $1,166.0 | | Total Equity | $212.5 | $237.7 | Consolidated Statements of Income Highlights (in millions, except per share data) | Metric | Q2 2024 | Q2 2023 | YTD 2024 | YTD 2023 | | :--- | :--- | :--- | :--- | :--- | | Rental Revenues | $53.4 | $53.7 | $114.8 | $106.6 | | Net Gain on Sale of Real Estate | $0 | $54.0 | $0 | $54.0 | | Net Income | $8.4 | $64.1 | $24.5 | $75.4 | | Net Income per Share (diluted) | $1.63 | $12.51 | $4.77 | $14.70 | - For the six months ended June 30, 2024, net cash provided by operating activities was **$28.3 million**, a significant decrease from **$65.9 million** in the prior-year period, with **$46.2 million** paid in dividends and a **$10.0 million** debt repayment[21](index=21&type=chunk) - On May 3, 2024, the company extended its lease with its largest tenant, Bloomberg L.P., for approximately 947,000 square feet through February 2040, resulting in a **$32 million** leasing commission payment and a **$113.6 million** lease incentive liability[33](index=33&type=chunk) - On June 11, 2024, the company extended its mortgage on the 731 Lexington Avenue office condominium for four months to October 11, 2024, paying down the principal by **$10 million** to **$490 million** at a Prime Rate of **8.50%** as of June 30, 2024[44](index=44&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=21&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting that the year-over-year decline in net income was driven by a one-time gain on a real estate sale in 2023, while Funds from Operations (FFO) for the six-month period increased [Overview](index=22&type=section&id=Overview) This subsection provides a high-level summary of the company's business as a New York City-focused REIT managed by Vornado, presenting key financial results for Q2 and the first half of 2024, and highlighting significant operational activities Financial Results Summary (in millions, except per share data) | Period | Net Income | Net Income/Share | FFO (non-GAAP) | FFO/Share (non-GAAP) | | :--- | :--- | :--- | :--- | :--- | | **Q2 2024** | $8.4 | $1.63 | $17.0 | $3.31 | | **Q2 2023** | $64.1 | $12.51 | $18.2 | $3.55 | | **YTD 2024** | $24.5 | $4.77 | $42.5 | $8.29 | | **YTD 2023** | $75.4 | $14.70 | $36.8 | $7.18 | - The significant decrease in net income for both the three and six-month periods of 2024 compared to 2023 is primarily due to a **$54.0 million** gain from the sale of the Rego Park III land parcel in 2023[80](index=80&type=chunk)[81](index=81&type=chunk)[82](index=82&type=chunk) - As of June 30, 2024, the company's portfolio of five properties, totaling 2,456,000 square feet, had a commercial occupancy rate of **92.1%** and a residential occupancy rate of **98.7%**[83](index=83&type=chunk) - Key tenant Bloomberg L.P. accounted for approximately **53%** of rental revenues for the first six months of 2024 and extended its lease for 947,000 square feet to February 2040[84](index=84&type=chunk)[85](index=85&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) This section provides a detailed comparison of operating results for the three and six-month periods ended June 30, 2024, and 2023, highlighting changes in rental revenues and interest expenses - For Q2 2024 vs Q2 2023, rental revenues decreased slightly by **$0.3 million**, while interest and debt expense increased by **$3.0 million**, mainly from higher interest rate cap premium amortization and increased rates[88](index=88&type=chunk)[93](index=93&type=chunk) - For YTD 2024 vs YTD 2023, rental revenues grew by **$8.2 million**, largely due to **$6.6 million** from IKEA's lease modification and **$1.2 million** in higher straight-line rent from Bloomberg's lease extension[97](index=97&type=chunk) - YTD interest and debt expense rose by **$7.0 million**, primarily due to **$5.1 million** of higher interest rate cap premium amortization and a **$1.7 million** increase from higher interest rates[102](index=102&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2024, the company had **$524.4 million** in liquidity, including cash and restricted cash, with management believing current liquidity is adequate for the next twelve months - Total liquidity as of June 30, 2024, was **$524.4 million**, comprised of cash, cash equivalents, and restricted cash[106](index=106&type=chunk) - For the first six months of 2024, cash decreased by **$28.6 million**, driven by **$46.2 million** in dividend payments and a **$10.0 million** debt repayment, partially offset by **$28.3 million** in net cash from operations[107](index=107&type=chunk) [Funds from Operations (FFO) (non-GAAP)](index=28&type=section&id=Funds%20from%20Operations%20%28FFO%29%20%28non-GAAP%29) This section reconciles GAAP net income to the non-GAAP measure of Funds from Operations (FFO), showing FFO for Q2 2024 was **$17.0 million**, a slight decrease, while YTD FFO increased to **$42.5 million** FFO Reconciliation (in millions, except per share data) | Metric | Q2 2024 | Q2 2023 | YTD 2024 | YTD 2023 | | :--- | :--- | :--- | :--- | :--- | | **Net Income** | $8.4 | $64.1 | $24.5 | $75.4 | | Depreciation & Amortization | $8.6 | $8.0 | $18.1 | $15.4 | | Net gain on sale of real estate | — | ($54.0) | — | ($54.0) | | **FFO (non-GAAP)** | **$17.0** | **$18.2** | **$42.5** | **$36.8** | | **FFO per diluted share** | **$3.31** | **$3.55** | **$8.29** | **$7.18** | [Quantitative and Qualitative Disclosures about Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk exposure stems from interest rate fluctuations on its variable-rate debt, which constituted **$692.5 million** of its total **$1.09 billion** debt as of June 30, 2024 - As of June 30, 2024, **$692.5 million** of the company's debt is variable-rate, where a **1%** change in rates would affect annual interest expense by **$6.9 million**, or **$1.35** per diluted share[121](index=121&type=chunk) - The company employs an interest rate cap for its Rego Park II mortgage and an interest rate swap for its 731 Lexington Avenue retail condominium mortgage to manage interest rate volatility[121](index=121&type=chunk) [Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, with the participation of the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2024, with no material changes to internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures are effective as of the end of the quarter[123](index=123&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[123](index=123&type=chunk) [PART II. Other Information](index=30&type=section&id=PART%20II.%20Other%20Information) This section covers various other disclosures, including legal proceedings, risk factors, and exhibits, providing additional context to the company's operations and governance [Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal actions that arise in the ordinary course of business, which management believes will not have a material effect on the company's financial condition, results of operations, or cash flows - Ongoing legal actions are not expected to have a material impact on the company's financial position or results[125](index=125&type=chunk) [Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2023 - No material changes to the risk factors disclosed in the 2023 Form 10-K have occurred[125](index=125&type=chunk) [Other Items (Unregistered Sales, Defaults, Mine Safety, Other Info)](index=30&type=section&id=Items%202%2C%203%2C%204%2C%205) This section confirms there were no unregistered sales of equity securities, no defaults upon senior securities, no applicable mine safety disclosures, and no other information to report under Item 5 for the period - The company reports none for Unregistered Sales of Equity Securities and Use of Proceeds, Defaults Upon Senior Securities, and Other Information, and Mine Safety Disclosures are not applicable[125](index=125&type=chunk) [Exhibits](index=30&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the ninth amendment to the lease with Bloomberg L.P., a loan extension agreement for the 731 Lexington Avenue property, and required officer certifications - Key exhibits filed include the Ninth Amendment of Lease with Bloomberg L.P. and the Loan Extension and Modification Agreement for the 731 Office One LLC mortgage[127](index=127&type=chunk) - Standard certifications from the CEO and CFO under Rule 13a-14(a) and Section 1350 are also included as exhibits[129](index=129&type=chunk)

Evorpacept is the first CD47 blocker to show durable clinical benefit and a well-tolerated safety profile in a prospective randomized trial Evorpacept combination achieved a confirmed overall response rate (ORR) of 40.3% compared to 26.6% for the control arm and demonstrated a median duration of response of 15.7 months compared to 7.6 months in the full trial populationIn the pre-specified population of patients with fresh HER2-positive biopsies, evorpacept combination showed the greatest benefit with ORR o ...

Core Points - Alexander's, Inc. has declared a quarterly dividend of $4.50 per share, payable on August 30, 2024, to stockholders of record on August 12, 2024 [1] - The company operates as a real estate investment trust (REIT) with five properties located in the New York City metropolitan area [1] Company Summary - The Board of Directors of Alexander's, Inc. has made a decision to distribute a regular quarterly dividend, indicating a commitment to returning value to shareholders [1] - The dividend announcement reflects the company's financial health and operational stability within the competitive real estate market [1]

Conference Call and Webcast Today at 4:30 PM EDT SOUTH SAN FRANCISCO, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., (“ALX Oncology” or the “Company”) (Nasdaq: ALXO), an immuno-oncology company developing therapies that block the CD47 immune checkpoint pathway, announced that the Company will host an investor conference call and webcast today at 4:30 PM EDT to share topline data results from the Phase 2 ASPEN-06 clinical trial evaluating evorpacept for the treatment of advanced HER2- ...