Daily Brief United States: Cerebras Systems , Bitcoin Pro, Pvh Corp, BioStem Technologies , Atlas Lithium , IN8bio , International Public Partnerships and more

• I’m not going to write about the technical side at all, as I expect Dylan Patel’s team at SemiAnalysis to do a much better job than I can do alone.
• However, I want to note some of the funniest aspects because landmines are everywhere for this IPO. Of course, it’s driven by G42, but it’s much worse than you think. Here’s the prelim S-1.
• G42 is pretty much the only customer.

• The report from Delphi Digital discusses significant macroeconomic changes, including the Federal Reserve’s move to lower interest rates and China’s liquidity injections, creating a positive environment for risk assets such as cryptocurrencies.
• In the crypto markets, there is growing optimism as BTC shows signs of a trend reversal and altcoins stage rallies.
• ETF inflows, particularly in BTC, are increasing after a slow summer.

• We are reiterating our Buy rating, projections and $3 price target for Vince after meeting with management in their European headquarters and touring the Galeries Lafayette shop in shop in Paris.
• We believe, with the company now well capitalized and acting in a materially more strategic fashion, the European opportunities, from owned stores to additional wholesale to category expansion, position Vince to drive material international growth going froward.
• When coupled with strong product offerings and what we believe are material opportunities in the domestic market, we believe Vince is ideally positioned to register material top and bottom line growth, and we reiterate our Buy rating and $3 price target for VNCE.

• BioStem Technologies is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture, and commercialization of allografts for regenerative therapies.
• The company announced that it was initiating an important clinical trial to study BioREtain in diabetic foot ulcers, which is a condition impacting millions.
• Additionally, the company announced it has filed an important document to further its quest to start trading on the Nasdaq stock exchange.

• The WTR Sustainable Index was up 3.5% W/W versus the S&P 500 Index (up 0.6%), the Russell 2000 Index (down 0.1%) and the Nasdaq Index (up 1.1%).
• Energy Technology (13.5% of the index) was up 3.3%, while Industrial Climate and Ag Technology (46.3% of the index) was up 1.1%, ClimateTech Mining was up 4.2%, and Advanced Transportation Solutions (21.0% of index) was up 8.4%.
• Top 10 Performers: VIHD, NNOMF, WAVE, EGT, NVVE, CPWHF, VLI, XPEV, MP, DNMR

• IN8Bio is a clinical-stage, oncology-focused biotechnology company using ?d T cells against solid and hematological tumors.
• Its pipeline is built on the DeltEx platform & drug-resistant immunotherapy (DRI) technology which have produced clinical candidates targeting leukemia & GBM.
• INB-100 is evaluating leukemia in a Ph1 study, while INB-200 & INB-400 are Ph1 and Ph2 assets evaluating GBM.

International Public Partnerships (INPP) has announced the partial disposal of its Public-Private Partnerships (P3) investment providing family housing for US service personnel. The £30m proceeds take INPP’s realisation proceeds over the last 18 months to c £260m (or c 10% of INPP’s portfolio value), with all exits in line with or slightly above previous carrying values. The sale proceeds will be used to support the recently increased and significantly accretive share buyback programme and towards funding its existing £35m near-term investment commitments across the transport, education and digital sectors (which INPP’s manager expects to be drawn until end-2025).