New Jersey
Chamber of Commerce endorses Bashaw for Senate – New Jersey Globe
The U.S. Chamber of Commerce is taking sides in New Jersey’s U.S. Senate race, endorsing Republican Curtis Bashaw against Rep. Andy Kim (D-Moorestown).
“Curtis has been a relentless job creator, employing over 1,000 people through his successful businesses across New Jersey,” Steve McAllister, the vice president for the Chamber’s eastern region, said in a statement. “The Chamber is proud to stand with Curtis and support his candidacy for United States Senate, and we look forward to working closely together in the 119th Congress on behalf of initiatives that will create economic opportunity for all.”
Bashaw is considered the underdog against Kim in a state that hasn’t elected a Republican to the Senate in more than 50 years, but that hasn’t stopped him from getting a number of notable endorsements – including from groups like the Chamber of Commerce that once supported Kim. (Kim received the Chamber’s endorsement in his 2020 race for re-election.)
This year, the Chamber is also backing two incumbent House members in New Jersey, from different parties: Rep. Tom Kean Jr. (R-Westfield), who got the group’s support earlier this month, and Rep. Josh Gottheimer (D-Wyckoff), whom the group endorsed last week.
“Josh understands the importance of Free Enterprise and its role in responding to the needs of people and local communities,” Steve Kim, the executive vice president of strategic initiatives, said of Gottheimer. “As a leader of the Problem Solvers Caucus, he is dedicated to bipartisanship and has worked tirelessly to remove bureaucratic barriers, strengthen our workforce, and foster innovation.”
New Jersey
Retired New Jersey State Police trooper who stormed Capitol is sentenced to probation
WASHINGTON — A retired New Jersey State Police trooper who stormed the U.S. Capitol with a mob of Donald Trump supporters was sentenced to probation instead of prison on Friday, as the federal courts reached a milestone in the punishment of Capitol rioters.
Videos captured Michael Daniele, 61, yelling and flashing a middle finger near police officers guarding the Capitol before he entered the building on Jan. 6, 2021.
Daniele expressed his regret for his role in the attack before U.S. District Judge Amit Mehta sentenced him to two years of probation, including 30 days of home confinement with electronic monitoring, and ordered him to pay a $2,500 fine. Prosecutors had recommended an 11-month prison sentence for Daniele.
“My family has been through hell,” Daniele said before learning his sentence. “I would never do anything like this again.”
The number of sentencings for Capitol riot cases topped the 1,000 mark on Friday, according to an Associated Press review of court records that began more than three years ago.
More than 1,500 people have been charged with Jan. 6-related federal crimes. At least 647 of them have been convicted and sentenced to a term of imprisonment ranging from a few days to 22 years. Over 200 have been sentenced to some form of home confinement.
In June, Mehta convicted Daniele of misdemeanor charges after a trial without a jury. But the judge acquitted him of two felony counts of interfering with police during a civil disorder.
Daniele served as a New Jersey State Police trooper for 26 years.
“I cannot be possible that you thought it was OK to be inside the United States Capitol on January 6th,” the judge said.
Daniele wasn’t accused of physically assaulting any police officers or causing any damage at the Capitol that day.
“You’re not criminally responsible for that, but you do bear some moral obligation for it,” the judge said.
A prosecutor said Daniele “should have known better” given his law-enforcement training and experience.
“By being there, he lent his strength to a violent mob,” Assistant U.S. Attorney Carolyn Jackson said.
Daniele traveled from Holmdel, N.J., to Washington, D.C., to attend then-President Trump’s “Stop the Steal” rally near the White House on Jan. 6, when Congress convened a joint session to certify President Joe Biden’s 2020 electoral victory.
Before Trump finished speaking, Daniele marched to the Capitol and joined hundreds of other rioters at the Peace Circle, where the mob breached barricades and forced police to retreat. Daniele entered the Capitol through the Senate Wing doors and walked through the Crypt. He spent roughly six minutes inside the building.
When the FBI interviewed him, Daniele referred to the Jan. 6 attack as a “set up” and suggested that other rioters “looked like cops,” according to prosecutors.
“He also blamed the violence of January 6 on the police — despite serving decades with law enforcement himself — accusing the police officers facing an unprecedented attack by a crowd of thousands of not following proper riot control practices,” prosecutors wrote.
Defense attorney Stuart Kaplan said incarcerating Daniele would be a waste of taxpayer dollars.
“He made poor choices and a bad decision,” the lawyer said. “I think he’s got more credits than debits.”
New Jersey
Sonnet BioTherapeutics to Receive Non-Dilutive Funding Through New Jersey Tax Certificate Transfer and Australia R&D Tax Incentive Programs
PRINCETON, NJ, Oct. 04, 2024 (GLOBE NEWSWIRE) — Sonnet BioTherapeutics Holdings, Inc. (the “Company” or “Sonnet”) (NASDAQ: SONN), a clinical-stage company developing targeted immunotherapeutic drugs, today announced it has received preliminary approval for a tax credit from the New Jersey Technology Business Tax Certificate Transfer Program administered by the New Jersey Economic Development Authority (NJEDA). Sonnet received approval of its application to sell up to $8,143,144 of its New Jersey State net operating losses (NOLs) and $62,810 of its New Jersey State research and development (R&D) tax credits for proceeds of up to $0.795 million through the New Jersey Technology Business Tax Certificate Transfer Program, subject to execution of such sale. Sonnet also expects to receive a $0.7 million net cash refund from the R&D Tax Incentive Program in Australia.
Pankaj Mohan, Founder and Chief Executive Officer of Sonnet commented, “We are grateful for NJEDA’s continued support of the biotechnology industry and to be one of the recipients to benefit from the New Jersey Technology Business Tax Certificate Transfer Program. With the addition of the net cash refund from the Australian R&D Tax Incentive Program, this will provide Sonnet with non-dilutive capital to continue to direct our resources towards advancing our pipeline of targeted immunotherapeutic drugs.”
The Technology Business Tax Certificate Transfer Program administered by the NJEDA enables qualified companies to sell up to $20 million of their unused New Jersey NOLs and R&D tax credits to unaffiliated, profit-generating corporate taxpayers in the State of New Jersey. The Technology Business Tax Certificate Transfer Program is designed to allow technology and biotechnology companies with NOLs to turn their tax losses and credits into cash proceeds to fund more R&D, expand its workforce and cover other allowable expenditures. Sonnet is one of several biotechnology/technology companies to qualify in this competitive process to share in the funding this year.
The Australian R&D Tax Incentive Program allows certain companies to claim a significant percentage of their costs related to R&D activities they have or are planning to undertake in Australia.
The Company expects to receive the Australian net cash refund before calendar year end 2024 and the proceeds from the sale of its New Jersey NOLs and R&D tax credits before the end of the first calendar quarter of 2025, subject to execution of such sale.
About Sonnet BioTherapeutics Holdings, Inc.
Sonnet is an oncology-focused biotechnology company with a proprietary platform for innovating biologic drugs of single or bifunctional action. Known as FHAB (Fully Human Albumin Binding), the technology utilizes a fully human single chain antibody fragment (scFv) that binds to and “hitch-hikes” on human serum albumin (HSA) for transport to target tissues. Sonnet’s FHAB was designed to specifically target tumor and lymphatic tissue, with an improved therapeutic window for optimizing the safety and efficacy of immune modulating biologic drugs. FHAB is the foundation of a modular, plug-and-play construct for potentiating a range of large molecule therapeutic classes, including cytokines, peptides, antibodies, and vaccines.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the proceeds from the Company’s New Jersey State NOLs and R&D tax credits, the Company’s Australia net cash refund, the outcome of the Company’s clinical trials, the Company’s cash runway, the Company’s product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management’s current beliefs and assumptions.
These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company’s filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
JTC Team, LLC
Jenene Thomas
908.824.0775
SONN@jtcir.com
New Jersey
Devils Open Season in Prague vs. Buffalo | PREVIEW | New Jersey Devils
THE SCOOP
The Devils and Sabres both had very untraditional preseason schedules as a result of their playing overseas and it came with very different results. The schedules had a mix of the team having to cobble together their top lineup quickly to play four games in North America before heading overseas followed by the team’s remaining AHL players and prospects making up the remainder.
For New Jersey, they lost all four of those preseason games while the Sabres won all four of theirs. Buffalo also played an exhibition game against the Munich Red Bulls and won that game as well, by a score of 5-0.
JJ Peterka led the way for the Sabres with three goals and five points in two preseason games. Three others, including Henri Jokiharju, had four points. Nico Hischier had two goals and three points in three games to lead the Devils group that’s in Prague in scoring in the preseason. Jesper Bratt was first in the assist category with a pair.
INJURIES
Devils: Pesce (leg), L. Hughes (shoulder)
Sabres: Johnson (lower body)
23-24 REGULAR-SEASON RESULTS
- Oct. 27 vs. Buffalo (W, 5-4)
- Nov. 25 vs. Buffalo (W, 7-2)
- Mar. 29 at Buffalo (L, 2-5)
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