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Biotech is a dynamic industry that is driving scientific advances and innovation in healthcare. In Canada, the biotech sector is home to companies pursuing cutting-edge therapies and medical technologies.

According to Grandview Research, the global biotech market is expected to grow at a compound annual growth rate of 13.96 percent between 2024 and 2030 to reach a value of US$3.08 trillion.

Read on to learn what’s been driving these Canadian biotech firms.

1. Bright Minds Biosciences (CSE:DRUG)

Year-on-year gain: 2,290 percent
Market cap: C$243.73 million
Share price: C$34.41

Bright Minds Biosciences is focused on developing novel treatments for neuropsychiatric disorders and pain.

Its portfolio consists of serotonin agonists designed to target neurocircuit abnormalities that make disorders like epilepsy, post-traumatic stress disorder and depression difficult to treat. The company’s drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing their side effects, thereby creating superior drugs to first-generation compounds such as psilocybin.

Bright Minds’ BMB-101, an agonist targeting the 5-HT2C receptor, will target classic absence epilepsy and developmental epileptic encephalopathy. An evaluation of Phase II trials done in collaboration with Firefly Neuroscience (NASDAQ:AIFF) determined that BMB-101 stopped seizures in a mouse model of epilepsy, suggesting it could be a vital new treatment.

In October 2024, Bright Mind’s share price surged nearly 1,500 percent in a single session after global pharmaceutical company H. Lundbeck announced its intention to acquire Longboard Pharmaceuticals, another firm with a 5-HT2C agonist in its pipeline.

In March of this year, Bright Minds added five world-renowned leaders in epilepsy research to its scientific advisory board.

2. Hemostemix (TSXV:HEM)

Year-on-year gain: 170 percent
Market cap: C$20.44 million
Share price: C$0.14

Hemostemix is a clinical-stage biotech company focused on developing autologous stem cell therapies, an approach that uses a patient’s own cells to theoretically enhance safety and efficacy. Its main product, ACP-01, is a cell therapy derived from a patient’s blood to promote tissue repair and regeneration in areas affected by disease.

The company announced its first advanced sales orders for ACP-01 on January 29 and has been working to expand internationally and attract new investment.

In July 2025, Hemostemix reported that the unanimous passing of Senate Bill 1768 in Florida, US, means it can begin commercial ACP-01 treatments for ischemic pain in the state in Q4. The bill creates a framework in which healthcare providers can administer stem cell therapies that had not been approved by the US Food and Drug Administration (FDA) but meet the bill’s guidelines.

The company projected 2026 sales of C$22.5 million following the news.

Additionally, Hemostemix is currently collaborating with Firefly Neuroscience on a Phase 1 clinical trial of ACP-01 for vascular dementia.

3. Eupraxia Pharmaceuticals (TSX:EPRX)

Year-on-year gain: 109.3 percent
Market cap: C$266.36 million
Share price: C$7.20

Eupraxia Pharmaceuticals focuses on developing locally delivered therapeutics for patients with unmet medical needs. Its primary focus has been orthopedics and oncology. Eupraxia acquired EpiPharma Therapeutics in late 2023, absorbing the company’s lead candidate EP-104GI.

In February, the company released positive data from the sixth cohort of its Phase 1b/2a trial for EP-104GI in eosinophilic esophagitis. In July, the company advanced its investigation into the Phase 2b portion after selecting an initial dose based on encouraging safety and efficacy data from the earlier Phase 2a cohorts, with top-line results from the Phase 2b study anticipated in Q3 2026.

4. ME Therapeutics Holdings (CSE:METX)

Year-on-year gain: 33.33 percent
Market cap: C$147.95 million
Share price: C$5.00

ME Therapeutics is a biotechnology company focused on developing cancer-fighting drug candidates that can increase the efficacy of current immuno-oncology drugs by targeting suppressive myeloid cells, which have been found to hinder the effectiveness of existing immuno-oncology treatments. Immuno-oncology is a relatively new area of cancer drug research and has shown promising results when used to treat cancer with low survival rates.

ME Therapeutics’ antibody h1B11-12 is designed to inhibit the cytokine G-SCF. Research performed by ME in collaboration with Dr. Kenneth Harder at the University of British Columbia demonstrated that G-CSF appeared to increase tumor growth in breast and colon cancer, as well as a correlation between survival in patients with colorectal cancer and low expression of G-CSF.

The work suggests that inhibition of tumor-secreted G-CSF using h1B11-12 could support the existing treatments. Trial planning efforts are ongoing, and the company expects development of a cell line for future production of the drug to be finished in the latter half of 2025.

The company is also part of an ongoing collaborative effort to develop therapeutic mRNA delivery methods to myeloid cells with NanoVation Therapeutics, a privately owned biotech company that develops customized nucleic acid and lipid nanoparticle technologies to empower genetic medicine. The collaboration has already resulted in two new mRNA formulations, for which testing began on October 4, and has demonstrated encouraging anti-cancer activity in a preclinical model of colorectal cancer.

In May 2025, the company said it would receive up to C$140,000 in funding from the National Research Council of Canada Industrial Research Assistance Program to advance its mRNA therapeutic program.

ME Therapeutics is also exploring a listing on the Nasdaq or the New York Stock Exchange.

5. NervGen (TSXV:NGEN)

Year-on-year gain: 28.42 percent
Market cap: C$276.78 million
Share price: C$3.75

NervGen is a clinical-stage Canadian biotechnology company that focuses on developing innovative treatments to enable the nervous system to repair itself following damage from injury or disease.

The company’s core technology targets a mechanism that hinders nervous system repair. When the nervous system is damaged, chondroitin sulfate proteoglycans form a “scar.” Initially, CSPGs help contain damage, but their long-term interaction with the PTPσ receptor inhibits repair.

NervGen’s lead drug candidate, NVG-291, is designed to relieve these inhibitory effects, promoting nervous system repair. NervGen is advancing NVG-291 in a Phase 1b/2a clinical trial for spinal cord injury (SCI), reporting positive data from the chronic cohort in June. It received fast track designation from the US FDA.

NVG-300, a newer preclinical candidate, is being evaluated for ischemic stroke and SCI.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Investor Insight

Purpose-built for today’s energy transition, xU3O8 sits at the intersection of technology, finance, and nuclear energy, offering a simplified and transparent alternative to legacy uranium investments amid surging global demand. The xU3O8 token, now accessible on leading global exchanges, is a groundbreaking digital asset that provides direct, efficient exposure to the uranium market.

Overview

Uranium.io is a next-generation platform revolutionizing how investors access and trade physical uranium (U3O8). By leveraging blockchain technology, it enables individuals and institutions to directly own and trade uranium, bypassing many of the inefficiencies, opacity and high costs traditionally associated with uranium exposure. Each xU3O8 token represents real, physical uranium stored securely in a regulated depository operated by Cameco, with Archax, a UK-regulated digital asset firm, as the custodian for the physical uranium ensuring transparency and trust in asset backing.

Diagram of investing in xU3O8

The platform is designed to meet growing investor demand for exposure to uranium, a commodity that is a critical component of the global energy transition. As countries commit to reducing carbon emissions, nuclear energy is increasingly seen as a reliable and scalable source of low-carbon electricity. Governments across North America, Europe and Asia are ramping up their nuclear energy capacities, as part of their net-zero targets. This includes restarting idled reactors, constructing new reactors, and accelerating the development of small modular reactors.

Nuclear power is also emerging as a stable and scalable option for supporting artificial intelligence (AI) data centers, which require massive amounts of electricity to operate. Industry leaders, including Microsoft, have announced nuclear energy investments, and several technology firms have secured long-term agreements for nuclear power.

Like gold and silver before it, uranium is entering a phase of financialization — with physical holding trusts, ETFs, and now platforms like uranium.io offering direct physical uranium ownership via xU3O8, making it more accessible to a wider set of investors.

As traditional financial markets converge with digital innovation, tokenized assets are becoming a preferred vehicle for commodities investing. Uranium.io’s use of the Etherlink blockchain ensures secure, real-time trading with minimal friction — a distinct advantage in an increasingly digitized investment landscape.

Development of the uranium.io platform is led by the team at London-based Trilitech, a group of entrepreneurs and technologists driving blockchain innovations.

With its emphasis on direct fractional ownership and 24/7 worldwide accessibility, xU3O8 is uniquely positioned to serve as the gateway to physical uranium exposure for a global investor base. Alignment with broader energy and digital asset trends makes it a compelling vehicle for those seeking to capitalize on uranium’s strong fundamentals and the disruptive power of decentralized finance.

In July 2025, the company launched its xU3O8 token on KuCoin, MEXC, and Gate.io — ushering in a new era of uranium investment. This simultaneous, multi-platform listing marks a major milestone in the evolution of real-world asset (RWA) tokenization, delivering institutional-grade exposure to uranium markets to a combined audience of over 115 million global traders.

By debuting across multiple top-tier platforms, xU3O8 ensures broad accessibility and liquidity for investors:

  • KuCoin – With over 41 million users in 200+ countries, KuCoin offers a full suite of trading services—spot, margin, options, and futures. As a technology-first exchange focused on accessibility, KuCoin shares xU3O8’s mission to dismantle traditional investment barriers.
  • MEXC – Founded in 2018, MEXC serves 36 million users globally and has seen explosive 2024 growth: 143 percent increase in spot trading and 118 percent in futures. Its intuitive platform makes crypto trading “simple, accessible, and rewarding,” mirroring xU3O8’s goal of democratizing uranium investment.
  • Gate.io – Ranked among the top 3 global crypto exchanges by real trading volume, Gate.io boasts 32 million users and supports over 3,600 digital assets. With institutional-grade security and a commitment to 100 percent reserve holdings, Gate.io provides the infrastructure essential for tokenized commodity trading.
Each xU3O8 token represents fractional ownership of physical uranium ore concentrate (yellowcake) securely stored by Cameco in regulated facilities, eliminating the high barriers to entry that once restricted uranium investment to institutions and major corporations.

Company Highlights

  • Uranium.io is a pioneering platform for buying and selling uranium, providing direct ownership of physical uranium via a blockchain-powered token xU3O8.
  • Built on Etherlink, powered by Tezos technology, enabling transparency, low fees, energy efficiency and programmable compliance.
  • FCA-regulated digital asset custodian, Archax, holds physical uranium in trust on behalf of token holders.
  • Physical supply is brokered by Curzon Uranium, a trusted uranium trading and logistics partner with deep industry roots and over $1 billion in uranium trades.
  • The uranium bought on the platform is physically stored at a regulated depository owned and operated by Cameco, one of the world’s leading global uranium providers/converters.
  • Global 24/7 market access offering fractionalized and direct uranium exposure with real-time settlement and cross-border accessibility.
  • Capitalizing on nuclear energy’s role in clean energy transition and the financialization of critical minerals.
  • The company has launched the xU3O8 token across three of the world’s leading cryptocurrency exchanges: KuCoin, MEXC, and Gate.io.

Technology Platform

Uranium.io is built on a secure, decentralized technology stack that integrates blockchain infrastructure, digital asset custody, and real-world commodity supply — delivering unprecedented access and transparency to the uranium market. The platform bridges traditional commodities trading with Web3 innovation, allowing users to seamlessly acquire, hold and trade physical uranium via xU3O8 tokens.

xU3O8

Blockchain Infrastructure: Etherlink, Powered by Tezos

At the heart of xU3O8’s digital asset engine is the Tezos blockchain, a highly secure, energy-efficient and self-amending Layer 1 protocol. Tezos is uniquely suited to power real-world asset tokenization due to its low transaction costs and energy efficiency; on-chain governance and smart contract flexibility; and enterprise-grade security and decentralization.

Tezos’ track record with real-world assets, including tokenized real estate and art, positions it as an ideal foundation for the secure, scalable digitization of uranium ownership.

Digital Custody: Archax

To ensure that each xU3O8 token is backed with physical uranium, uranium.io is supported by Archax, a London-based, digital asset custodian and exchange regulated by the Financial Conduct Authority. Archax provides regulated asset custody, KYC/AML-compliant onboarding, and real-time asset reconciliation.

Archax brings institutional-grade governance and accountability to the storage and oversight of physical uranium, ensuring that investor holdings are not just theoretical but physically secured.

Physical Supply: Curzon Uranium

Access to physical uranium is facilitated by its partnership with Curzon Uranium, a specialized uranium trading and logistics firm. Curzon acts as the platform’s uranium provider, sourcing, purchasing and delivering uranium from trusted upstream suppliers to secure storage.

Curzon’s decades of experience in uranium procurement adds physical credibility and market depth to the xU3O8 ecosystem — making the platform more than just a digital asset project, but a fully integrated uranium trading platform.

Physical uranium storage: Cameco

The physical uranium ore concentrate (U3O8) is securely stored at a regulated storage facility, operated by Cameco, one of the three globally recognized uranium conversion and storage providers. For transparency, Proof of Reserves is always available on the website and is updated with monthly statements from Cameco.

Together, Tezos, Archax and Curzon Uranium form the digital, custodial and physical backbone of the uranium.io platform. This trio of technologies and partnerships ensures a secure, compliant and efficient path for investors to gain physical uranium exposure — fractionalized, tokenized and tradable 24/7 on a global scale.

This post appeared first on investingnews.com

As part of his effort to ‘Make America Safe Again,’ President Donald Trump signed an executive order to allow cities and states to remove homeless people off the streets and into treatment centers. 

Trump signed the order, ‘Ending Vagrancy and Restoring,’ Thursday afternoon. 

The order states that the ‘number of individuals living on the streets in the United States on a single night during the last year of the Biden administration — 274,224 — was the highest ever recorded.’ 

It directs Attorney General Pam Bondi to ‘reverse judicial precedents and end consent decrees’ stopping or limiting cities and states from removing homeless individuals from the streets and moving them to treatment centers. 

Though it is unclear how much money will be allocated to the effort, Trump’s order redirects federal funds to ensure that removed homeless individuals are sent to rehabilitation, treatment and other facilities.

Additionally, the order requires Bondi to partner with Health and Human Services Secretary Robert F. Kennedy Jr., Housing and Urban Development Secretary Scott Turner and Transportation Secretary Sean Duffy to prioritize federal grants to cities and states that ‘enforce prohibitions on open illicit drug use, urban camping and loitering, and urban squatting, and track the location of sex offenders,’ according to USA Today. 

The order also stipulates that discretionary grants for substance-use disorder prevention, treatment and recovery programs ‘do not fund drug injection sites or illicit drug use.’ 

Homelessness increased in the U.S. by 18% from 2023 to 2024, according to Housing and Urban Development’s annual homelessness assessment report released in January. 

Trump has previously vowed to clean up American cities, especially the nation’s capital of Washington.

Speaking in March, Trump said, ‘We’re going to have a crime-free capital. When people come here, they’re not going to be mugged or shot or raped. They’re going to have a crime-free capital again. It’s going to be cleaner and better and safer than it ever was. And it’s not going to take us too long.’ 


This post appeared first on FOX NEWS

Lies and lying people comprise the sorry epitaph of Barack Obama’s presidency.  

The Big Lie was that then-candidate Donald Trump colluded with Russia to rig the 2016 presidential election. It derived from a phony dossier commissioned and financed by former Secretary of State Hillary Clinton that Obama’s national security team happily peddled to destroy his successor.  

It begat an even bigger whopper that ‘Putin and the Russian Government developed a clear preference for President-elect Trump’ and ‘aspired to help’ his election chances. This notorious deceit was inserted in the official Intelligence Community Assessment (ICA) that was ordered by Obama himself and conjured up by his CIA Director John Brennan.  

None of it was true. 

The bogus dossier was exploited to justify the ICA. Conversely, the ICA was used to legitimize the dossier. The circular faux verification was a clever ruse. And it worked splendidly. When both documents were leaked to the gullible Trump-hating media, journalists adopted them without question as sacred gospel from the Holy Book of Obama. The Russia hoax took off like a rocket.  

It crash-landed on Wednesday, July 23, when Tulsi Gabbard, the director of National Intelligence, accused Obama, Brennan and others of engineering the false intelligence. ‘They knew it would promote this contrived narrative that Russia interfered in the 2016 election to help President Trump win, selling it to the American people as though it were true. It wasn’t,’ she added.  

Newly declassified documents show that a December 8, 2016, draft of Obama’s Presidential Daily Briefing (PDB) debunked the notion of Russian electoral meddling to help Trump. But wait … that was problematic because it did not conform to the preferred narrative of Trump-Russia collusion. So, FBI Director James Comey and his cohorts reportedly scuttled it. That way, Trump, as president-elect, could not be briefed on its contents.   

The next day Obama convened a highly confidential meeting at the White House. The president ordered his intelligence cronies to expedite a new ICA that would reverse the PDB’s conclusion and energize the collusion fiction. With his marching orders in hand, Brennan immediately went to work on it. 

Leavitt says Russia attempted to sow

His challenge was devising a way to contort the known evidence and contradict the consensus of nearly everyone else in the intelligence community. No problem. CIA experts on Russia who strenuously objected were sidelined and silenced. Brennan ignored their warning that there was no direct evidence that Russian President Vladimir Putin wanted to elect Trump.  

Other intel agencies that typically contribute to the assessment were deliberately excluded to stifle dissent. Evidence shows that Brennan then selected a handful of sycophants — with only one principal drafter — to craft the entire ICA that bore little resemblance to the truth and established facts.  

On January 6, 2017, the rushed-to-completion ICA was produced. It offered a remarkable transformation from the earlier PDB: ‘Putin and the Russian Government aspired to help President-Elect Trump’s election chances when possible by discrediting Secretary Clinton and publicly contrasting her unfavorably to him.’ (Page 7 of ICA)  

The head-spinning about-face of intel conclusions was an immaculate conception of corrupt handicraft that belongs in the Intelligence Hall of Shame.  

Although Brennan denied it, numerous delusions drawn from the fake dossier were placed in the formal intelligence assessment to give it the sustenance that it otherwise lacked. Armed with both fallacious documents, Comey then met with Trump later that day in a devious but misbegotten scheme to entrap him. It failed miserably because the newly elected president had no idea what the FBI director was talking about.        

Obama’s dirty fingerprints were all over the cooked-up intelligence claiming that Moscow helped Trump in some grand collusion conspiracy. On Wednesday, Gabbard held a news conference to lift the veil of secrecy and malevolence. She leveled the following broadside:  

‘President Obama, Hillary Clinton, John Brennan, James Clapper, James Comey and others, including their mouthpieces in the media, knowingly lied as they repeated the contrived narrative that was created in this January 2017 intelligence community assessment with high confidence, as though it were fact.’   

Mincing no words, Gabbard accused Brennan of lying about his use of the dossier even though he knew it was a discredited and politically manufactured document. ‘He directed senior CIA officials to use it anyway,’ she said.  

Other intel agencies that typically contribute to the assessment were deliberately excluded to stifle dissent. 

As ‘irrefutable proof,’ she unlocked the 2020 report of the House Intelligence Committee that had never before been seen publicly, thanks to the machinations of then-Rep. Adam Schiff, D-Calif., who buried it as classified in a limited-access vault at CIA headquarters. The report outlined in detail the events that I summarized above. 

It was easy to do so because many of them are contained in the book I wrote six years ago, ‘Witch Hunt:’ ‘John Brennan was instrumental in proliferating the dossier. But even before the Clinton campaign and Democrats funded Christopher Steele’s project to smear Trump with the collusion hoax, the seeds of the collusion narrative were germinated by none other than Brennan.’ (Pages 66-67)  

I recounted how Brennan boasted to the House Intel Committee in May of 2017 that he had been the first to alert the FBI about collusion. ‘As he exerted uncommon pressure on the FBI to pursue a counterintelligence probe on Trump, he resolved to help spread the false allegations to Congress and the media. He politicized phony intelligence and instigated the fraudulent case against Clinton’s opponent.’ (Page 68) 

The Russians never had ‘Kompromat’ (compromising material) on Trump, as the dossier falsely accused. But they apparently did have it on Hillary. And that proved quite a stunner on Wednesday.  

Trump-Russia collusion ‘hoax’ has ‘a lot of similarities to the WMD story,’ says Matt Taibbi

The heretofore hidden House Intelligence report reveals how Russian intelligence ‘possessed DNC communications that in 2016 Clinton was suffering from ‘intensified psycho-emotional problems, including uncontrolled fits of anger, aggression, and cheerfulness.’ Clinton was placed on a daily regimen of ‘heavy tranquilizers’ and while afraid of losing, she remained ‘obsessed with a thirst for power.’’  

Obama and Democrat Party bosses apparently knew all about Clinton’s mental instability and found it ‘extraordinarily alarming.’ So much so, they worried it might have a ‘serious negative impact’ on the November election.    

Unlike the dossier, those shocking discoveries were not just idle gossip. The committee reviewed reams of source material and obtained corroboration during some 20 interviews with FBI agents and intelligence officers.  

How did the Russians get their hands on the damaging material? The report explains that Putin ordered hacking operations on the Clinton campaign and the Democratic National Committee. It seems that since Putin believed Hillary would win the election, he held the ‘Kompromat’ in his back pocket to use as potential blackmail for later use. 

His challenge was devising a way to contort the known evidence and contradict the consensus of nearly everyone else in the intelligence community. No problem. CIA experts on Russia who strenuously objected were sidelined and silenced.

In sending a criminal referral for possible prosecution to the Justice Department, Gabbard stated, ‘The evidence that we have found and that we have released directly point to President Obama leading the manufacturing of this intelligence assessment.’ 

In response, the DOJ announced that it had formed a ‘strike force’ to fully assess all the evidence and to investigate the next legal steps. Attorney General Pam Bondi vowed to ‘leave no stone unturned to deliver justice.’  

Obama denies any wrongdoing. But he should thank Trump for winning the recent landmark Supreme Court decision that provides all presidents with immunity. Ironically, the former president can now hide behind its broad protections. However, no such shield extends to others involved.  

It is folly to predict at this stage what prosecutions, if any, the future may hold. But the stain of corruption is already embedded in the epitaph of Obama’s presidency.   


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Ex-President Joe Biden’s former chief of staff ignored reporters on his way out of an interview with congressional investigators on Thursday after a marathon grilling behind closed doors.

Ronald Klain served as White House chief of staff for the first half of Biden’s term. He also reportedly played a key role in helping the former leader prepare for what proved to be a disastrous first and only 2024 election debate against current President Donald Trump.

Klain sat with staff and some lawmakers on the House Oversight Committee for hours for a voluntary transcribed interview.

Committee Chair James Comer, R-Ky., earlier told reporters that the interview was going well just after the session broke for lunch.

‘I think we’re having a very good transcribed interview. Mr. Klain is being fairly responsive to our questions,’ Comer said.

Comer is investigating whether Biden’s top White House aides concealed signs of mental decline in the then-president, and if that meant executive actions were signed via autopen without his knowledge.

Lawmakers who briefly attended the interview, however, called him ‘credible.’

‘I think he is telling what he knows accurately,’ Rep. Andy Biggs, R-Ariz., told Fox News Digital.

On the other side of the aisle, Rep. Ro Khanna, D-Calif., told reporters, ‘He answered every single question. He was fully cooperative.’

Comer was guarded, however, in response to questions about how much new information was gleaned.

‘There have been tidbits,’ he said. ‘We’ve asked specific questions. Obviously, evidence emerges on a daily basis that would suggest Joe Biden wasn’t mentally fit to be President of the United States.’

Klain is the sixth former Biden administration aide to appear for Comer’s probe and the third to appear voluntarily.

Former White House physician Kevin O’Connor, as well as senior advisors Annie Tomasini and Anthony Bernal, all appeared under subpoena.

Each also pleaded the Fifth Amendment to avoid answering questions.

Longtime Biden aide Ashley Williams and former staff secretary Neera Tanden both appeared voluntarily.

Like the previous five before him, the longtime Democratic operative did not answer questions from reporters either before or after his interview.


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A Jewish-American national security group is sounding an alarm about how America and Israel’s enemies may exploit low missile stockpiles after the 12-day war with Iran.  

Defending Israel and the Al Udeid Air Base in Qatar from Iranian counterstrikes cost the U.S. and Israel between $1.48 billion to $1.58 billion, according to an analysis by the Jewish Institute for National Security of America (JINSA), and burned through a large portion of missile interceptor stockpiles. 

Both the U.S. and Israel now face an ‘urgent need’ to replace those stocks and sharply increase production rates. 

The U.S. had roughly 632 Terminal High Altitude Area Defense (THAAD) interceptors before June 13, the day Israel began its offensive in Iran. About 540 interceptors remain in its arsenal based on JINSA’s calculations of interceptor deliveries and use, according to the report. 

In addition, the two Patriot missile interceptor systems responsible for defending Al Udeid, the U.S.’s largest base in the Middle East that’s home to 10,000 soldiers, reportedly used roughly 30 Patriot interceptors against the 14 Iranian ballistic missiles targeting the site June 23, The interceptors cost about $3.7 million each, totaling $111 million.

Iran launched 574 medium-range ballistic missiles toward Israel and the U.S. airbase in Qatar after Tel Aviv and Washington conducted strikes on Iranian military and nuclear sites between June 13 and June 24, when the conflict ended in Iran’s counterstrike in Qatar.

Lt. Gen. Thomas Bergeson, former chief of U.S. Central Command, said the U.S. and its allies needed to do more to invest in nonkinetic interception mechanisms,or systems that can neutralize a threat without explosive force, would be much cheaper in defending against future attacks. 

‘There’s any number of operational test and developmental testing going on with a cheaper bullet than a multibillion-dollar interceptor to shoot down a relatively inexpensive missile or UAS,’ he said. ‘Any electro-magnetic interference capability, a microwave laser EMP, whatever that can screw up, the guidance system or the proportion of that particular system is something that could be cheaper.

‘You can have literally hundreds if not thousands of rounds in one interceptor at very low cost.’

While the cost for the U.S. and Israel was high, the cost for Iran was greater — between $1.1 billion and $6.6 billion. Air defenses saved Israel about $13.5 billion in property damage.

Iran used up between a third and a half of its ballistic missile arsenal during the 12-day conflict, suggesting Iranian assertions it could have continued striking Israel for years if it wanted were overblown. 

Replacing its missile stockpiles will be even more costly given that Israel struck many of its launchers and production sites. 

But the U.S. used up 14% of its global stockpile of prized THAAD missile interceptors. America’s THAAD system accounted for nearly half of all interceptions due to ‘insufficient’ capacity of Israel’s Arrow interception system. 

It would take three to eight years to replenish the THAAD interceptors used in the 12-day war at current production rates. 

Patriot interceptor production is more robust than THAAD, according to the report, but the U.S. is providing a number of Patriot interceptors to Ukraine. So, it’s unclear how many remain in the stockpile. 

If the U.S. and Israel fail to urgently replenish their interceptor inventories — especially THAAD and Patriot systems — they risk entering the next crisis with dangerously thin defenses, according to the report. Adversaries may take note of the extended gap between munitions use and stockpile replenishment, which leaves U.S. bases across the world open to vulnerabilities. 

‘Iran’s large-scale missile campaign may have revealed vulnerabilities in Israeli and U.S. air defense systems, providing lessons that Iran or other U.S. adversaries could exploit in the future,’ the report said.

The Pentagon could not immediately be reached for comment on its plan to replenish missile interceptor stocks.


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The United States has withdrawn its delegation from Doha, where it was participating in ceasefire negotiations this week, according to United States Special Envoy to the Middle East Steve Witkoff.

The announcement came the same day Israeli Prime Minister Benjamin Netanyahu’s office also announced that its negotiators in Doha would also be leaving in light of the response from Hamas. Witkoff also met with Israeli and Qatari officials in Rome Thursday, according to reports.  

‘We have decided to bring our team home from Doha for consultations after the latest response from Hamas, which clearly shows a lack of desire to reach a ceasefire in Gaza,’ Witkoff said in a statement Thursday. 

‘While the mediators have made a great effort, Hamas does not appear to be coordinated or acting in good faith. We will now consider alternative options to bring the hostages home and try to create a more stable environment for the people of Gaza.’

Witkoff added that it was a ‘shame’ Hamas has acted in such a ‘selfish way,’ adding the U.S. stands resolute in its efforts to bring permanent peace to the region.

According to Israeli media reports, Hamas is now demanding the release of 200 Palestinians serving life sentences for murdering Israelis and an additional 2,000 Palestinians detained in Gaza after Oct. 7. 

The demand significantly exceeds the previous mediator-backed framework reportedly accepted by Israel, which included the release of 125 life-term prisoners and 1,200 other detainees.

At a State Department briefing Thursday, principal deputy spokesperson Tommy Pigott would not elaborate on any details pertaining to the ‘alternative options’ the U.S. was considering in its effort to bring home hostages and create a more stable environment in Gaza.

‘At this point, (there’s) nothing to preview,’ Pigott told reporters. 

Pigott was also asked whether the U.S. would ever work within the Doha framework to advance negotiations again, a framework that has included representatives from Egypt, Qatar, Hamas, Israel and the United States, but he similarly did not share any details on that front. 

‘Ultimately, the special envoy statement speaks for itself, but I think the broader context here is also important. The fact that we have seen Hamas first break that ceasefire that existed on Oct. 7, then break another ceasefire, and then, here, as the special envoy makes clear, not acting in a way in order to achieve a ceasefire again,’ Pigott said Thursday. ‘So, to reiterate, the question has never been our commitment to a ceasefire. It has been Hamas’. They have shown that again and again and again and have just shown it once again.’

‘Israel has long accepted a deal on the table, and Hamas has long rejected it,’ he added.

During Thursday’s press briefing at the State Department, the agency also confirmed that the U.S. would not be participating in an upcoming United Nations conference discussing a potential two-state solution between Israelis and the Palestinians.

Fox News’ Efrat Lachter contributed to this report.


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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Glencore (LSE:GLEN,OTC Pink:GLCNF) is preparing to shut down its final two Australian copper mines next week, ending more than six decades of upstream operations in Queensland.

The closure of the underground Enterprise and X41 mines in Mount Isa comes as uncertainty grows over the future of the adjacent copper smelter, which the company says could also be shut down without urgent government support.

The Swiss commodities giant first announced its plan to end mining operations in October 2023, citing declining ore grades and mounting financial losses.

The decision also coincides with Glencore’s sale of its Lady Loretta zinc mine and nearby landholdings to Austral Resources (ASX:AR1), further reducing its footprint in the region.

At the center of the company’s remaining copper assets is the Mount Isa smelter, which processes over one million tons of copper concentrate annually from across Australia, including from BHP (ASX:BHP,NYSE:BHP,LSE:BHP,OTC:BHPLF)Olympic Dam in South Australia.

But that smelter’s future now hangs in the balance. According to an internal staff memo obtained by local media, Glencore warned that without federal and state support, the Mount Isa smelter and Townsville copper refinery will be placed into care and maintenance, putting thousands of direct and indirect jobs at risk.

“To date Glencore has been absorbing losses hopeful that a viable solution could be found,” wrote Troy Wilson, Glencore’s interim chief operating officer in North Queensland, in a message to employees.

He noted that the company is engaged with the Queensland and Australian governments but has yet to secure a funding commitment.

A final decision on the smelter is expected by the end of September.

Thousands of local jobs at risk

The potential shutdown could also have wide-reaching consequences for the regional economy.

While the smelter and refinery directly employ about 550 workers, industry group Townsville Enterprise estimates that as many as 17,000 jobs in the region are tied to the copper supply chain and related businesses.

That includes equipment suppliers, service contractors, and downstream manufacturers.

Roland Lobegeiger, a field services manager at Isadraulics in Mount Isa, said the loss of the smelter would be devastating for the town. “Without it, the town’s not going to be here,” he told news.com.au.

“There are other mines — there would be other work in the area, but would the town recover? It’s hard to say,” he added.

The company’s struggle to keep its Queensland operations afloat comes at a time when global smelting margins are being squeezed by Chinese overcapacity.

In May, Bloomberg reported that Chinese smelters matched their record for refined copper production, producing 1.254 million tonnes despite plummeting treatment and refining charges, which are the fees miners pay smelters to process raw ore.

Beijing has allowed massive expansion in smelting capacity to support its clean energy sector, which depends heavily on copper.

Chinese smelters, many of which are state-owned, now produce more than half the world’s refined copper and are often shielded from financial distress by subsidies and state backing. That advantage has fueled growing frustration among non-Chinese producers.

“Unfortunately, it’s no longer a level playing field with our competitors in China heavily subsidised by government, which means they produce copper metal at much lower cost,” Wilson said in June.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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