Latest news with #FXR
NBC Sports
17-05-2025
- Sport
- NBC Sports
SMX Next champion Alexander Fedortsov to turn pro in Pala, California
Alexander Fedortsov, the 18-year-old 2025 SMX Next Champion, will turn pro at Fox Raceway in Pala, California, racing for ClubMX. Fedortsov peaked when it mattered most in the SMX Next program. After running well but finishing outside the top 15 in four of the five rounds, he won the season finale over Landen Gordon and Enzo Temmerman. He secured the title in the winner-take-all scenario for the developmental series. Fedortsov was the fastest qualifier in four of the five events, and although he finished last in the Daytona Supercross race, he had a four-second lead on the competition before suffering a flat tire while leading. 'I really have nothing more to prove to myself in the amateur ranks, and I feel I can do a good job for the team starting with the outdoor season this year,' Fedortsov said in a news release. 'It's a bit of a risk but one I am willing to take at this point in my career. The Muc-Off/FXR/ClubMX team has always been supportive of my decisions, and I am very thankful for their support into the pros. 'It is actually a dream come true for me, it is what every kid dreams about and now I get to actually do it.' Fedortsov has raced since the age of six, and his ability to look beyond any disappointment this week to eventual success is one of the key elements that make him appealing to ClubMX. 'It is rare to have talents in both Motocross and Supercross at such a young age,' said ClubMX team owner Brandon Haas. 'Alex impressed me every step of the way and bringing home the SMX Next Championship was icing on the cake. He takes direction well, he follows the program and has made believers out of the entire team. We talked internally about the risk vs. reward by moving him up but it was an easy decision. He has a lot of confidence and is totally unfazed by the competition. He is going to add one more layer of excitement to the outdoor season.' Fedortsov has trained at the Chesterfield, South Carolina, facility since early 2022. The length of his contract was unspecified, but described as 'long-term.' More SuperMotocross News Levi Kitchen renews with Pro Circuit Malcolm Stewart launches fishing apparel line Dylan Ferrandis to miss start of Pro MX Salt Lake City 450 SX results | 250 results Sexton wins 7th race, Webb third title Haiden Deegan wins final 250 E/W Showdown 450 SX Salt Lake City heats | 250 heats Chase Sexton sweeps SLC SX Qualification Cole Davies crashes in SLC SX Q1 The making of a Supercross track
Business Wire
16-05-2025
- Business
- Business Wire
Malcolm Stewart Partners with FXR Racing and Launches 27 Parallel Fishing Apparel Brand Backed by FXR Pro Fish
OAK BLUFF, Manitoba--(BUSINESS WIRE)--FXR Racing is thrilled to announce that Malcolm Stewart, 2016 250cc Supercross Champion and 450cc race winner, one of the most dynamic and respected riders in professional motocross and supercross, is officially joining the FXR Racing family for the 2025 season. Stewart will represent FXR's cutting-edge dirt bike gear throughout the remainder of his racing career, bringing his signature style and grit to the track in full FXR performance apparel. In a move that blends his passion for racing and the outdoors, Stewart is also launching his own fishing apparel brand, 27 Parallel, in collaboration with FXR Pro Fish —FXR's performance fishing division. The brand will deliver premium gear designed for serious anglers who want comfort, protection, and a touch of Stewart's unmistakable personality. 'FXR has been pushing boundaries in motocross gear, and I'm hyped to be part of the team,' said Stewart. 'But this is bigger than racing. With 27 Parallel, I'm sharing another part of who I am—fishing has always been my escape, and now I get to create gear for people who love it as much as I do. Partnering with FXR Pro Fish made that dream a reality.' 27 Parallel is named after Stewart's iconic racing number 27 and the 27th parallel, which runs right through where he grew up—representing the intersection of two worlds: speed and serenity, throttle and tide. The debut collection will feature lightweight UV-protective shirts, hoodies, gloves, and headwear engineered for long days on the water, developed with the same performance-first mindset FXR is known for. 'Malcolm is one of the most authentic athletes out there,' said Milt Reimer, President of FXR Racing. 'He's as passionate about fishing as he is about racing, and that shows in everything he does. We're excited to support both sides of his lifestyle—on the track with FXR Racing and on the water with FXR Pro Fish and 27 Parallel.' Fans can expect to see Stewart debuting FXR Racing gear at the first round of the AMA Pro Motocross Championship, while the 27 Parallel fishing apparel line is set to launch later this year. Both will be available online and through select FXR dealers.
National Post
16-05-2025
- Business
- National Post
Malcolm Stewart Partners with FXR Racing and Launches 27 Parallel Fishing Apparel Brand Backed by FXR Pro Fish
Article content OAK BLUFF, Manitoba — FXR Racing is thrilled to announce that Malcolm Stewart, 2016 250cc Supercross Champion and 450cc race winner, one of the most dynamic and respected riders in professional motocross and supercross, is officially joining the FXR Racing family for the 2025 season. Stewart will represent FXR's cutting-edge dirt bike gear throughout the remainder of his racing career, bringing his signature style and grit to the track in full FXR performance apparel. Article content Article content In a move that blends his passion for racing and the outdoors, Stewart is also launching his own fishing apparel brand, 27 Parallel, in collaboration with FXR Pro Fish —FXR's performance fishing division. The brand will deliver premium gear designed for serious anglers who want comfort, protection, and a touch of Stewart's unmistakable personality. Article content 'FXR has been pushing boundaries in motocross gear, and I'm hyped to be part of the team,' said Stewart. 'But this is bigger than racing. With 27 Parallel, I'm sharing another part of who I am—fishing has always been my escape, and now I get to create gear for people who love it as much as I do. Partnering with FXR Pro Fish made that dream a reality.' Article content 27 Parallel is named after Stewart's iconic racing number 27 and the 27th parallel, which runs right through where he grew up—representing the intersection of two worlds: speed and serenity, throttle and tide. The debut collection will feature lightweight UV-protective shirts, hoodies, gloves, and headwear engineered for long days on the water, developed with the same performance-first mindset FXR is known for. Article content 'Malcolm is one of the most authentic athletes out there,' said Milt Reimer, President of FXR Racing. 'He's as passionate about fishing as he is about racing, and that shows in everything he does. We're excited to support both sides of his lifestyle—on the track with FXR Racing and on the water with FXR Pro Fish and 27 Parallel.' Article content Fans can expect to see Stewart debuting FXR Racing gear at the first round of the AMA Pro Motocross Championship, while the 27 Parallel fishing apparel line is set to launch later this year. Both will be available online and through select FXR dealers. Article content Article content Article content Article content Article content Article content
Associated Press
02-04-2025
- Business
- Associated Press
Organovo Provides Update on Cash and Nasdaq Continued Listing Requirements
SAN DIEGO, April 02, 2025 (GLOBE NEWSWIRE) -- Organovo Holdings, Inc. (Nasdaq: ONVO) ('Organovo' or the 'Company'), a clinical stage biotechnology company focused on developing novel treatment approaches in inflammatory bowel disease (IBD), today reported preliminary unaudited cash for the fiscal year ending March 31, 2025, and net cash utilization results for the fiscal fourth quarter of 2025. The Company expects to release full fiscal second-quarter financial results the week of June 9-13, 2025. The Company also gave guidance that, as its common stock has been trading above the $1.00 minimum bid price required, it expects to meet the requirements for continued listing on the Nasdaq Capital Market should the closing price of its common stock remain at similar levels. Cash The Company's preliminary cash and cash equivalents balance was approximately $11.3 million as of the end of the fiscal year on March 31, 2025. Organovo's preliminary net cash utilization during the fourth quarter from January 1, 2025 to March 31, 2025 was approximately $2.0 - $2.2 million. The preliminary financial information presented in this press release is based on Organovo's current expectations and may be adjusted as a result of, among other things, the completion of customary annual audit procedures. Nasdaq Compliance Update The Company further clarified it expects to meet all requirements for continued listing on the Nasdaq Capital Market. The Company's common stock has closed above the $1.00 minimum bid price requirement since March 21, 2025 and believes it has met the minimum stockholder equity requirements of continued listing, pending Nasdaq confirmation. Nasdaq requires a minimum of 10 consecutive trading days where the stock closes at a minimum bid price of $1.00, and the Company has closed above $1.00 since March 21, 2025. Potential Receipt of Future Milestone Payments Although the Company does not control the clinical development of products for which it may receive milestone payments, it currently reasonably expects to receive a $5M milestone payment within the next 12 months associated with the anticipated start of a Phase 2 clinical trial for the FXR agonist that it recently sold. In connection with the sale of the FXR agonist, the Company may receive future milestones of up to an aggregate of $50M, which is inclusive of the $5M milestone payment that would be received upon the commencement of a Phase 2 clinical trial. About Organovo Organovo is a clinical stage biotechnology company that is developing drugs that are demonstrated to be effective in three-dimensional (3D) human tissues as candidates for drug development. The company has proprietary technology used to build 3D human tissues that mimic key aspects of native human tissue composition, architecture, function, and disease. For more information visit Organovo's website at Forward Looking Statements Any statements contained in this press release that do not describe historical facts constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties, including the completion of the audit of its financial statements, general economic and market factors, and global economic and marketplace uncertainties. Forward-looking statements include statements regarding the Company's expectation that it will meet the requirements for continued listing on the Nasdaq Capital Market, the Company's expectations regarding its cash and cash equivalents balance and net cash utilization and the potential receipt of any milestone payments associated with the FXR agonist, . Such forward-looking statements are not guarantees of performance and actual actions or events could differ materially from those contained in such statements. For example, there can be no assurance that the Company will meet the bid price requirement or the minimum value of stockholders' equity requirement during any compliance period or otherwise in the future, that the Company will otherwise meet Nasdaq compliance standards, or that the Company can ultimately meet or maintain compliance with applicable Nasdaq continued listing requirements. These risks and uncertainties and other factors are identified and described in more detail in the Company's filings with the SEC, including its Annual Report on Form 10-K filed with the SEC on May 31, 2024, as such risk factors are updated in its most recently filed Quarterly Report on Form 10-Q filed with the SEC on February 19, 2025. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered with any written or oral forward-looking statements that the Company may issue in the future. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events, or circumstances or to reflect the occurrence of unanticipated events. Investor Relations
Yahoo
25-03-2025
- Business
- Yahoo
Organovo Announces Close of the Sale of FXR Program to Eli Lilly and Company
SAN DIEGO, March 25, 2025 (GLOBE NEWSWIRE) -- Organovo Holdings, Inc. (Nasdaq:ONVO) ('Organovo' or the 'Company'), a clinical stage biotechnology company focused on developing novel treatment approaches in inflammatory bowel disease (IBD), today announced the successful close of the sale of its FXR program, including lead asset FXR314, to Eli Lilly and Company (NYSE:LLY) ('Lilly'). The transaction was completed on March 25, 2025. With the closing, Organovo receives an upfront payment, with future milestones to be paid as FXR314 hits key regulatory and commercial milestones. Lilly is acquiring all commercial and intellectual property rights to Organovo's FXR program for worldwide development and will be responsible for all future clinical development. About OrganovoOrganovo is a clinical stage biotechnology company that is developing drugs that are demonstrated to be effective in three-dimensional (3D) human tissues as candidates for drug development. The company has proprietary technology used to build 3D human tissues that mimic key aspects of native human tissue composition, architecture, function, and disease. For more information visit Organovo's website at Forward Looking StatementsAny statements contained in this press release that do not describe historical facts constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. These risks and uncertainties and other factors are identified and described in more detail in the Company's filings with the SEC, including its Annual Report on Form 10-K filed with the SEC on May 31, 2024, as such risk factors are updated in its most recently filed Quarterly Report on Form 10-Q filed with the SEC on February 19, 2025 and the Registration Statement on Form S-1 (File No. 333-282841). You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered with any written or oral forward-looking statements that the Company may issue in the future. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events, or circumstances or to reflect the occurrence of unanticipated events. Contact Investor Relationsinfo@ Source: Organovo, in to access your portfolio
