Tri-county biotech firms tackle COVID-19 pandemic
Life sciences companies in the Tri-Counties are stepping up with treatments for COVID-19, led by leaders in inhalable drug technologies. Westlake Village-based MannKind said it expects $4.9 million in forgivable loan relief as part of the CARES Act, passed in March, as it explores four potential anti-infective and antiviral therapies. Separately, aerosolized drug delivery company Read More →
Tri-county airports get federal grants as ridership plummets
Several tri-county airports received federal funding through the Coronavirus Aid, Relief, and Economic Security Act Airport Grant Program as they faced steep declines in ridership. Of the three largest airports, San Luis Obispo County Regional Airport received the most —$20 million. Santa Barbara Municipal Airport got $9.6 million, and Santa Maria Public Airport, which lost Read More →
MannKind getting $5M loan to avoid layoffs and tackle COVID-19
Westlake Village-based MannKind said it expects $4.9 million in federal forgivable loan relief, among other financial measures that will help it avoid furloughs and layoffs as it pursues potential therapies for the COVID-19 pandemic. The company is currently exploring four potential anti-infective and antiviral therapies, said CEO Michael Castagna. “These are high risk areas and Read More →
CLU economists say short lockdown key to small business survival
A new report from the Center for Economic Research & Forecasting at California Lutheran University underscores the ferocity of the debate around re-opening the economy. CERF forecasters Matthew Fienup and Dan Hamilton now project a stunning, nearly 20 percent drop in GDP and Great Depression levels of job losses, followed by a long, slow U-shaped Read More →
Lisi: COVID-19 impacts values and acquisitions
By James Lisi From Feb. 20 to March 20, the bond risk premium jumped two points. This jump was larger than any previous move over a one-year period. Well-regarded economists are forecasting 20 percent to 35 percent fall in Gross Domestic Product for the next few months. We have just exited the best market for Read More →
Steinfeld and Werth: Cannabis businesses are essential
By Amy Steinfeld and Alina Werth As a result of Gov. Gavin Newsom’s stay-at-home executive order, all but “essential” businesses have closed to slow the spread of the novel coronavirus. Cannabis dispensaries are one of a few retail operations deemed essential, along with pharmacies and grocery stores. And it’s not just dispensaries that have been Read More →
Our view: Progress with numbers but hard road ahead
The Central Coast is proving — along with much of California — that social distancing and restricted activity can bend the curve of the coronavirus pandemic. But the battle is far from over and there are troubling signs that the disease will double back with a vengeance once the rules are relaxed. At press time, Read More →
