Oxnard-based Cure Pharmaceutical, a drug delivery platform and CBD products company, reported more losses but rising revenue in its second quarter earnings. Cure suffered a net loss of $9.6 million in the second quarter of 2022, up substantially from a net loss of $1.3 million in the same quarter a year ago. That equates to an earnings per share loss of 10 cents for the quarter ended June 30. Revenue increased 31% in the quarter, however, to $1.3 million, with more expected growth to come in the third quarter, the company said in a news release.

https://www.pacbiztimes.com/2022/09/06/revenue-and-losses-both-up-at-cure-pharmaceutical/

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LONG BEACH — When it comes to the national economy, Isabella Casillas Guzman, the administrator of the U.S. Small Business Administration, is firmly in the soft landing camp. A Latina who calls Southern California home, she's seen a surge in minority-owned business starts during the post-COVID 19 recovery. And she sees part of her mission as making sure those new companies are able to survive as the Federal Reserve raises interest rates to drive inflation back to the 2% mark. 'Black and brown founders are leading the charge in terms of start-up rates,' she told the Business Times during an interview at DieselTech, a firm that specializes in repairing controls on heavy truck engines.

https://www.pacbiztimes.com/2022/09/19/dubroff-in-southern-california-sba-administrator-speaks-of-sustainable-and-stable-landing/

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On the evening of Aug. 12, Ventura County Supervisor Carmen Ramirez died after she was struck by a pickup truck while crossing a street in downtown Oxnard. Here is a small sampling of the outpouring of condolences from community leaders in the days following her death: 'There was no one I admired more than Carmen. She was an inspiration to work for the good of the entire community. When she served as an advisor to the University, she sought to bring opportunity to everyone, most especially to those who had been underserved.

https://www.pacbiztimes.com/2022/08/18/opinion-ventura-county-leaders-remember-supervisor-carmen-ramirez/

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Arcutis Biotherapeutics, a Westlake Village-based company developing drugs for immune dermatological conditions, plans to raise $150 million through a public offering of additional shares of common stock. Arcutis announced the pricing of those shares on Aug. 2, at $20 per share. Shares of Arcutis closed at $19.50 that day and then shot up 17% on Aug. 3, trading at around $22.80 by mid-day. Arcutis will issue and sell 7.5 million shares of stock, which will increase the number of outstanding shares by about 13%.

https://www.pacbiztimes.com/2022/08/03/arcutis-to-raise-150m-in-public-stock-offering/

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At a State Senate committee hearing in Sacramento in late August, Gov. Gavin Newsom's staff gave its biggest endorsement yet to a plan to extend the life of the Diablo Canyon nuclear plant in San Luis Obispo County. In the early morning hours of Sept. 1, the California Legislature passed a bill, which Newsom seems sure to sign, that sets out a plan to keep California's last nuclear plant open beyond its scheduled shutdown in 2025. The Newsom administration wants to provide a $1.4 billion loan to PG&E to keep the plant operating until at least 2030, and extending its life would also allow PG&E to apply for federal funding.

https://www.pacbiztimes.com/2022/09/01/our-view-dont-forget-local-interests-in-the-diablo-canyon-extension/

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Kayta Goyich and Duncan Riffle of Cutler's Artisan Spirits, in the distillery's Santa Barbara tasting room. (Eric Isaacs photo) Though water makes up about 60% of the average person's body, liquor certainly runs in the Cutler family line. As a boy, Ian Cutler heard the stories of how his great-grandfather was a bootlegger during Prohibition. From there, his family kept running different liquor stores, bars and more, until 1985, when changes to California's liquor laws made it harder for smaller businesses like his family's to compete.

https://www.pacbiztimes.com/2022/08/25/distilleries-shake-up-regions-beverage-industry/

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The county of Santa Barbara will sue UC Santa Barbara over allegations that the university failed to comply with its long-term plan to provide enough housing for its students. The Board of Supervisors voted unanimously on Aug. 30 in closed session to initiate litigation against the Regents of the University of California, alleging UCSB violated to build the required housing for its students, faculty and staff. The decision came after UCSB faced an unprecedented housing crunch during the 2021-2022 school year.

https://www.pacbiztimes.com/2022/09/02/santa-barbara-county-to-join-goleta-in-suing-ucsb-over-lack-of-housing/

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The tri-county region's breweries came home from the 2022 Great American Beer Festival in Denver with gold medals in five different categories and a handful of silver and bronze medals, too. The Great American Beer Festival is one of the world's top beer competitions, and the 2022 edition ended Oct. 8. Seven breweries based in the Tri-Counties won medals, three of them winning two each. Wild Fields Brewhouse in Atascadero was the biggest winner, with two gold medals. Both were for relatively malty beers, at a time when California microbrews are still generally hop-heavy: Its Pine Mountain Monolith won gold in the English-Style Brown Ale category, and its Magic Swirling Sip was the festival's best in the Scottish-Style Ale category.

https://www.pacbiztimes.com/2022/10/10/regions-breweries-take-home-barrel-of-medals-from-great-american-beer-festival/

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Amgen announced positive results from clinical trials of two separate drugs in late August. On Aug. 30, the Thousand Oaks-based biotech giant said its Phase 3 trail evaluating daily oral doses of Lumakras, a treatment for non-small cell lung cancer, 'met its primary endpoint of progression-free survival' and demonstrated statistically significant superiority over the current standard chemotherapy treatment. The study assessed the effects of Lumakras on 345 patients with non-small cell lung cancer who had previously been traded with chemotherapy.

https://www.pacbiztimes.com/2022/09/01/amgen-reports-pair-of-positive-clinical-trial-results/

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Ventura County leadership was in a state of shock as news spread that Carmen Ramirez, chair of the Ventura County Board of Supervisors, was struck by a pickup truck and killed in downtown Oxnard on Aug. 12. Ramirez, 73, was leaving an evening meeting and crossing a street when the accident occurred. Carmen Ramirez Among the business and community leaders who were mourning her death was Vanessa Bechtel, CEO of the Ventura County Community Foundation. 'She was a true inspiration,' Bechtel wrote in an email to the Business Times.

https://www.pacbiztimes.com/2022/08/13/ventura-county-mourns-supervisor-carmen-ramirez/

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Homes under construction in the Harvest by Limoneira neighborhood in Santa Paula. (Tony Biasotti photo) Despite rising interest rates and a potentially slowing U.S. economy, homebuilders and residential developers seem eager to build in the tri-county region. The costs of materials and labor to build new homes have increased, and rising interest rates means potential homebuyers have to pay more mortgage interest, leaving less money for the principal. Developers are also hurt by rising interest rates, if they have to borrow to buy property or finance construction.

https://www.pacbiztimes.com/2022/08/11/rising-interest-rates-uncertain-economy-havent-slowed-homebuilding-in-region-yet/

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Camarillo-based Semtech produced record revenue and earnings in the second quarter of 2022, but its shares plummeted 27% the day after its earnings release after the company's guidances for the third quarter were well below analysts' expectations. Semtech, a semiconductor company specializing in Internet of Things applications, saw its net income increase in the second quarter of 2022, to $51.6 million, or 81 cents per share, from $33.2 million, or 50 cents per share, in the same quarter a year ago, according to earnings released Aug.

https://www.pacbiztimes.com/2022/09/01/semtech-shares-hit-two-year-low-after-company-lowers-q3-guidance/

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By Kristin Decas The Port of Hueneme ranks as one of the top six ports in the United States for automobile trade, supporting an industry that touches nearly every American. Passenger vehicles account for a quarter of all imports and exports at the Port of Hueneme, and last year totaled $5 billion for imports and $228.07 million for exports. We have been working with car manufacturers and their shipping partners for more than 40 years. As an integral hub in the supply chain, we are currently working with the city of Oxnard to propose developing a temporary parking area, locally known as Project 34.

https://www.pacbiztimes.com/2022/10/14/opinion-new-parking-area-will-help-port-of-hueneme-thrive/

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The Camarillo-based semiconductor company Semtech Corp. disclosed Aug. 2 that it 'has engaged in advanced discussions' regarding a possible $1.2 billion acquisition of Sierra Wireless, a Canadian company that makes components for the Internet of Things applications that Semtech also specializes in. Bloomberg first reported a potential deal on Aug. 1, and that day shares of Sierra shot up 19.4% to close at $29.70, just short of the $31 per share cited in Semtech's statement the following day. That statement said only that Semtech has been in talks with Sierra at a price of $31 per share, and that Semtech will not make any further announcements unless it enters into a binding agreement to buy Sierra.

https://www.pacbiztimes.com/2022/08/02/semtech-in-talks-to-buy-sierra-wireless-for-1-2b/

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IN THIS ARTICLE Agribusiness Topic Jorge Mercado Author By Jorge Mercado Friday, July 29th, 2022 Two years ago, Ventura-based FreshRealm, founded as a subsidiary of Santa Paula-based Calavo Growers, was left on its own. In the third fiscal quarter of 2020, Calavo wrote down a $37.2 million non-cash loss on its investment in FreshRealm, and in February 2021, at the height of the COVID-19 pandemic, Calavo and Fresh Realm officially…

https://www.pacbiztimes.com/2022/07/29/freshrealm-ceo-company-will-use-200m-investment-to-play-offense-in-the-market/

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