Obama Budget Calls for Major Nuclear Investments

Source: The Hill, Andrew Restuccia (2/14/11)

"Proposal calls for $36B in loan guarantees, over $800B for research."

President Obama's fiscal year 2012 budget outlines a plan for reviving the country's nuclear power industry, calling for $36B in government-backed loan guarantees for new nuclear reactors and setting aside more than $800B for nuclear energy research.

Obama has said that nuclear power is a key component of the country's energy future. In his State of the Union speech last month, he outlined a plan to generate 80% of the country's electricity from low-carbon sources including nuclear by 2035.

But the prospect of reviving a U.S. nuclear energy industry faces significant obstacles. The country has not seen the completion of a new nuclear reactor for decades and high costs have stalled projects. Nuclear energy has its share of opponents, who cite safety concerns.

Republicans, for their part, have put a so-called "nuclear renaissance" in the United States at the top of their agenda, outlining plans to streamline regulatory oversight at the Nuclear Regulatory Commission and build a series of scaled-down, "mini-nukes" that would cost less and take less time to build.

Obama's FY2012 budget request, sent to Congress Monday, revives a similar provision in his fiscal year 2011 budget request that would provide $36B in additional loan guarantee authority for nuclear power. This would add to the $18B in nuclear loan guarantee authority the DOE already has. The budget also calls for loan guarantees for energy efficiency and renewable energy.

More broadly, the DOE budget request provides a $29.5 billion for the Department of Energy, a slight increase from the president's fiscal year 2011 budget request, which was never enacted. The figure represents a 12% increase when compared to the budget enacted in 2010. A large portion of the overall DOE budget goes to efforts by the department to secure and clean up nuclear materials and radioactive waste.

Novavax Shares Shoot 65% Higher on Phase 3 COVID-19 Vaccine Trial's 89.3% Effectiveness
Source: Streetwise Reports (01/29/2021)

Novavax Inc. shares established a new 52-week high after the firm's COVID-19 vaccine demonstrated an 89.3% efficacy rate in a Phase 3 trial in the U.K. and also showed efficacy against the South African variant in a Phase 2b trial.

Abiomed Shares Gain 8% After Firm Announces Record Q3 Revenue of $232 Million
Source: Streetwise Reports (01/28/2021)

Shares of cardiac medical device maker Abiomed Inc. traded higher after the company reported record revenue for Q3/21 despite the impact from COVID-19.

Sorrento Shares Rise 35% After Firm Posts Positive Data from Phase 1b ICU COVID-19 Trial
Source: Streetwise Reports (01/27/2021)

Shares of Sorrento Therapeutics traded higher after the company released positive preliminary results from it of Phase 1b COVI-MSC™ Study for treatment of hospitalized ICU COVID-19 patients.

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

Vir Shares Climb 48% on Initial Phase 1 Chronic Hepatitis B Trial Data
Source: Streetwise Reports (01/26/2021)

Vir Biotechnology shares traded higher after the company reported data from its Phase 1 Chronic Hepatitis B Study that showed VIR-3434 significantly and rapidly reduced hepatitis B surface antigen.

Aurinia Pharma Shares Open at 52-Week High as FDA Approves Adult Lupus Nephritis Drug
Source: Streetwise Reports (01/25/2021)

Shares of Aurinia Pharmaceuticals traded 30% higher after the company reported that the U.S. Food and Drug Administration approved its LUPKYNIS™ (voclosporin) for use in treating adults with active lupus nephritis.

AzurRx Doses First Two People in Expanded Phase 2b Trial of Cystic Fibrosis Patients
Source: Streetwise Reports (01/22/2021)

AzurRx BioPharma shares traded 45% higher after the firm advised it had dosed the first two patients in its Phase 2b OPTION 2 Extension Study of MS1819 for treatment of exocrine pancreatic insufficiency in patients with cystic fibrosis.

NGL Energy Shares Rise 21% as It Seeks to Raise $2.05 Billion from Senior Secured Note Offering
Source: Streetwise Reports (01/21/2021)

Shares of NGL Energy Partners LP traded higher after the firm made a series of announcements over the past three days regarding an update on financial operations, a settlement with a customer in bankruptcy, a quarterly Class D unit distribution and a $2.05 billion senior secured debt offering.

Explorer Discovers New Gold Mineralization at Abitibi Gold Belt Property
Source: Streetwise Reports (01/21/2021)

iMetal Resources is setting out to see if the multi-million ounce gold resource next door continues onto its Gowganda West property in Ontario.

Gritstone Oncology Licenses LNP Platform from Genevant Sciences to Develop COVID-19 Vaccine
Source: Streetwise Reports (01/20/2021)

Shares of Gritstone Oncology reached a new 52-week high price after the company advised it entered into a non-exclusive licensing agreement with Genevant Sciences to develop and commercialize self-amplifying RNA vaccines for use against SARS-CoV-2.