Archive for April, 2016
(EXPI) Fundamental Research Corp. Initiates Coverage of eXp World Holdings, Inc.
BELLINGHAM, WA–(April 14, 2016) – Fundamental Research Corp. an independent research firm specializing in the small-cap and microcap sectors, has announced that it has initiated coverage of eXp Realty International Corporation (name change to eXp World Holdings, Inc. presently pending) (OTCQB: EXPI). The report includes a rating and a price target. To the view the report in its entirety visit http://www.otcmarkets.com/financialReportViewer?symbol=EXPI&id=152868.
eXp World Holdings, Inc. is the holding company for a number of entities including eXp Realty, the Agent-Owned Cloud Brokerage and First Cloud Mortgage, Inc. The Company’s real estate brokerage operations now has more than 1,100 real estate professionals who span across 36 states and parts of Canada.
In the report, Fundamental Research Corp. discusses the implementation of eXp’s agent-ownership initiatives, and the fundamentals of its business model stating that the Company’s “ability to attract 1,000+ agents, and over $2 billion in transactions, indicates their attractive value proposition to real estate professionals.”
About Fundamental Research Corp. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Fundamental Research Corp. is not a market maker and does not sell to or buy from customers on a principal basis. The above statement is the opinion of Fundamental Research Corp. and is not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in this report are not in concert. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Fundamental Research Corp has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. As of the date of this report no Fundamental Research Corp employees had a position in the stock of the company mentioned in this report.
All research issued by Fundamental Research Corp. is based on public information. Fees were paid by EXPI to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, EXPI has agreed to a minimum coverage term including four reports.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage™ as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
eXp World Holdings, Inc. also owns 90.5% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, New Mexico and Texas.
The corporate name change to “eXp World Holdings, Inc.” has been approved by our Board and stockholders but is not yet effective, pending the mailing of a definitive information statement to our stockholders in accordance with applicable rules and a 20-day notice period thereafter.
As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.
For more information you can follow eXp World Holdings, Inc. on Twitter, LinkedIn, Facebook, YouTube, or visit investors.exprealty.com or www.exprealty.com.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the Company’s expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.
Investor Relations Contact Information:
Glenn Sanford
Chairman & CEO
eXp World Holdings, Inc.
glenn@expworldholdings.com
360-389-2426
Trade and Media Contact Information:
Jason Gesing
President
eXp Realty World Holdings, Inc.
jason@expworldholdings.com
617-970-8518
Contact:
Sid Rajeev, CFA
Fundamental Research Corp.
www.researchfrc.com
Direct: 604-682-7065
(CYRX) Signs Strategic Partnership Deal With Worthington Industries
IRVINE, Calif., April 13, 2016 — Cryoport, Inc. (NASDAQ: CYRX), the world’s leading cryogenic logistics company, announced today that it has entered into a strategic partnership with Worthington Industries (NYSE: WOR), maker of cryogenic storage vessels and equipment. Through this partnership, Worthington’s CryoScience by Taylor Wharton business will design and manufacture biostorage and logistics equipment for use in Cryoport’s life sciences cryogenic logistics solutions.
Cryoport’s proprietary cold chain logistics solutions protect frozen life sciences commodities from adverse thermal excursions during clinical development through commercial manufacture; thereby, contributing to increased success in transport and storage and efficacy. Through its recently-acquired CryoScience by Taylor Wharton product line, Worthington manufactures cold chain storage and transport vessels and equipment that provide critically reliable transportation of biological commodities.
Jerrell Shelton, CEO of Cryoport, stated, “This strategic arrangement with Worthington’s CryoScience by Taylor Wharton Division is important to Cryoport as Worthington is one of the most important and most competent manufacturers serving our space. With the added competencies Worthington’s CryoScience by Taylor Wharton brings to Cryoport, we can concentrate on further advancing and expanding our cold chain solutions to meet the growing and varied demands for validated cryogenic logistics solutions in the life sciences market. Cryoport’s leading-edge logistics solutions for biopharma, animal health, and reproductive medicine are second to none. In this new age of biology, Cryoport is more than a “nice to have,” it is a strategic consideration. And, with new, innovative, validated solutions enabled by Worthington, we are confident that our partnership will prove to be a great success in the marketplace for both parties.”
As the premier provider of cold chain logistics solutions to the life sciences industry Cryoport is committed to maintaining its leadership and will further enhance its proprietary shippers, information technology and specialized cold chain logistics expertise to continue differentiating its services and providing superior value to clients. This partnership also gives Cryoport the opportunity to expand into other logistics areas such as storage thereby advancing Cryoport’s offerings to clients in the storage and fulfilment areas of logistics.
“Working in tandem with Worthington’s CryoScience by Taylor-Wharton team allows Cryoport to meet the demands of a more diverse clientele through a broader offering which in turn, increases our revenue opportunity as well as provides us the opportunity to rapidly scale to support our clients’ commercialization activities,” said Mark Sawicki, Chief Commercial Officer of Cryoport.
Andrew Pazahanick, Vice President & GM of Worthington’s CryoScience by Taylor-Wharton business added, “This strategic partnership between Cryoport and Worthington will help meet the quality and reliability demands of the growing life sciences industry. Cold chain logistics has become a strategic consideration, as there is an ever-increasing need for cryogenic logistics in the biopharma, animal health, cellular therapy and reproductive medicine markets. We are pleased to align our business with a key cryogenic logistics solution in the life sciences market that provides us immediate access to a distribution platform for our cryogenic products, equipment and services. We believe that Cryoport combines important elements of packaging, information technology and logistics expertise and we are excited to support its efforts to further scale its solutions.”
About Cryoport
Cryoport is the premier provider of cryogenic logistics solutions to the life sciences industry through its purpose-built proprietary packaging, information technology and specialized cold chain logistics expertise. The Company provides leading edge logistics solutions for biologic materials, such as immunotherapies, stem cells, CAR-T cells and reproductive cells for clients worldwide. Cryoport actively supports points-of-care, CRO’s, central laboratories, pharmaceutical companies, contract manufacturers and university researchers. For more information, visit www.cryoport.com.
To download Cryoport’s investor relations app, which offers access to SEC documents, press releases, videos, audiocasts and more, please click to download from your iPhone and iPad or Android mobile device.
About Worthington Industries
Worthington Industries is a leading global diversified metals manufacturing company with 2015 fiscal year sales of $3.4 billion. With the recent acquisition of the CryoScience by Taylor-Wharton product line, Worthington now offers an expanded portfolio of cryogenic storage vessels and related equipment designed for the life sciences markets ranging from 1.5 liter dewars to the largest LABS Series freezer that stores over 94,000 vials. Headquartered in Columbus, Ohio, Worthington employs approximately 10,000 people and operates 82 facilities in 11 countries.
Forward Looking Statements
Statements in this news release which are not purely historical, including statements regarding Cryoport, Inc.’s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that the company’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic conditions, trends in the products markets, variations in the company’s cash flow, market acceptance risks, and technical development risks. The company’s business could be affected by a number of other factors, including the risk factors listed from time to time in the company’s SEC reports including, but not limited to, the annual report on Form 10-K for the year ended March 31, 2015. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Cryoport, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
(UNXL) Expands Business with Tier 1 Customer with XTouch™ and Diamond Guard™ Wins
Announces Two Additional 2-in-1 Convertible Laptop Design Wins with a Leading PC Manufacturer
SANTA CLARA, Calif., April 13, 2016 — UniPixel, Inc. (NASDAQ: UNXL), a provider of advanced touch solutions to the touchscreen and flexible electronics markets, today announced additional design wins that will feature UniPixel’s XTouch and Diamond Guard products in two new 2-in-1 convertible programs from an existing leading PC manufacturing customer. These two wins expand the company’s ongoing business with this customer to four programs.
Both programs will utilize UniPixel’s XTouch high response touchscreen sensors offering with its outstanding finger-touch and capacitive stylus performance, coupled with the company’s Diamond Guard hardcoat technology to reduce the overall cost and weight of the computing devices. One program will include a device with a 12.3-inch screen, and the other program will include a device with a 12.5-inch screen. Volume production for both programs is expected to commence during the fourth quarter of 2016.
Jeff Hawthorne, president and chief executive officer of UniPixel, said, “These are the third and fourth program awards from this customer already in 2016. This customer is new to us in 2016 and we are delighted with their confidence in the performance of our technology and our ability to deliver the best 2-in-1 experience in the industry. We are pleased with the traction we are gaining in the market with our highly differentiated products. Our XTouch copper metal mesh touch sensor offers important advantages to PC manufacturers resulting from lower sheet resistance which allows for superior touch and stylus performance. And our Diamond Guard hardcoat helps PC manufacturers offer the thinner and lighter computing devices desired by their end-user customers.”
About UniPixel
UniPixel, Inc. (NASDAQ: UNXL) develops and markets Performance Engineered Films for the touch screen and flexible electronics markets. The company’s roll-to-roll electronics manufacturing process patterns fine line conductive elements on thin films. The company markets its technologies for touch panel sensor, cover glass replacement, and protective cover film applications under the XTouch™ and Diamond Guard™ brands. For further information, visit www.unipixel.com.
Forward-looking Statements
All statements in this news release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended including the statement that UniPixel’s integrated technologies are expected to provide enhanced yields at a lower cost, thereby expanding UniPixel’s competitiveness in the touch screen market. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Company’s control, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under Item 1A “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2015. UniPixel operates in a highly competitive and rapidly changing environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statements. Readers are also urged to carefully review and consider the other various disclosures in the company’s Annual Report on Form 10-K, quarterly reports on Form 10-Q and Current Reports on Form 8-K.
Trademarks in this release are the property of their respective owners
Contact:
Joe Diaz, Robert Blum, Joe Dorame
Lytham Partners, LLC
602-889-9700
unxl@lythampartners.com
(GPRO) Appoints Danny Coster Vice President of Design
Coster brings more than 20 years of storied design experience to GoPro
SAN MATEO, Calif., April 13, 2016 — GoPro (NASDAQ: GPRO) today announced that Daniel (Danny) Coster has been named Vice President of Design, effective the end of April. He will report to GoPro CEO and founder Nick Woodman.
Mr. Coster will influence all aspects of design at GoPro in his new role, including hardware and software and services, lending his strategic vision and expertise to maximizing the GoPro user’s experience from end to end.
“Ironically, Danny and I first met in December, 2001, on the beach in Sayulita, Mexico at the very start of the five month surfing trip where I developed and tested the first GoPro prototype,” said Woodman. “His design pedigree speaks for itself, but I will say that we feel energized to have him join GoPro.”
A core member of Apple’s elite industrial design team for more than 20 years, Mr. Coster is credited for his contributions to a wide range of now iconic consumer electronics ranging from the iPhone 4 to the iPad wireless keyboard. He holds more than 500 design patents and several utility patents, and has been recognized by several international design organizations for his work.
“I’m honored to join the GoPro team,” said Coster. “This extraordinary company is close to the hearts of so many people around the world. Its brand and products inspire us to capture and share our lives’ most important moments. I’m excited to shape the future the incredible team at GoPro.”
About GoPro, Inc. (NASDAQ:GPRO) GoPro, Inc. is transforming the way people visually capture and share their lives. What began as an idea to help athletes self-document themselves engaged in their sport, GoPro has become a standard for how people capture themselves engaged in their interests, whatever they may be. From extreme to mainstream, professional to consumer, GoPro enables the world to capture and share its passion in the form of immersive and engaging content.
GOPRO® and HERO® are trademarks or registered trademarks of GoPro, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.
For more information, visit www.gopro.com or connect with GoPro on YouTube, Twitter, Facebook, Pinterest, Instagram, or LinkedIn.
(EMKR) Announces Favorable Ruling from Sumitomo Arbitration
Tribunal Finds in Favor of EMCORE and Awards Legal Fees of over $2.5 million
ALHAMBRA, Calif., April 13, 2016 — EMCORE Corporation (NASDAQ:EMKR), a leading provider of Indium Phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market, announced today the receipt of a favorable ruling from the International Court of Arbitration tribunal relating to its ongoing dispute with Sumitomo Electric Industries, Ltd. (“SEI”).
As previously disclosed, in September 2014, SEI filed for arbitration against the Company in connection with certain disputes arising out of the Company’s sale of assets to SEI in May 2012. SEI was seeking $47.5 million from EMCORE relating to numerous claims.
On April 12, 2016, a three member arbitration panel rejected SEI’s claims. The panel ruled that EMCORE owes SEI none of the amounts SEI sought in the arbitration and that the Company is entitled to collect the $1.9 million it is holding in escrow. The Company is also entitled to recover over $2.5 million in fees and costs. At December 31, 2015, EMCORE had accrued for $3.4 million of liabilities relating to potential claims, in addition to the $1.9 million it held in escrow for these claims.
About EMCORE
EMCORE Corporation designs and manufactures Indium Phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. EMCORE was the pioneer in linear fiber optic transmission technology, and today is a leader in optical components, as well as a provider of complete end-to-end solutions for high-speed communications network infrastructures, enabling systems and service providers to meet growing demand for bandwidth and connectivity. EMCORE’s advanced optical technologies are designed for cable television (CATV) and fiber-to-the-premise (FTTP) networks, telecommunications and data centers, satellite communications, aerospace and defense, wireless networks, and broadcast and professional audio/video systems. With its world-class InP semiconductor wafer fabrication facility, EMCORE has fully vertically-integrated manufacturing capability and also provides contract design, foundry and component packaging services. EMCORE is headquartered in Alhambra, California with InP wafer fabrication operations in Alhambra, and ISO 9001 certified manufacturing in Alhambra and Langfang, China. For further information about EMCORE, visit http://www.emcore.com.
Contact:
EMCORE Corporation
Mark Weinswig
Chief Financial Officer
(626) 293-3400
Media
Joel Counter
Manager, Corporate Marketing Communications
(626) 999-7017
media@emcore.com
Investor
Erica Mannion
Sapphire Investor Relations, LLC
Phone: (617) 542-6180
investor@emcore.com
(RPRX) Announces Significant Data for Proellex Phase 2 Meeting with FDA
THE WOODLANDS, TX / April 13, 2016 / Repros Therapeutics Inc.® (NASDAQ: RPRX) reported that vaginal administration of Proellex at doses of both 6 and 12 mg achieved significant reduction in excessive menstrual bleeding, the key symptom of uterine fibroids.
The Company believes Proellex® represents a significant advantage over GnRH agonists and antagonists in the treatment of uterine fibroids. Once both the vaginal and oral studies complete both 18 week courses of treatment the Company plans to request an end of Phase 2 meeting with the FDA to jointly discuss plans for Phase 3.
We have compiled not only a look at this potential new drug but a fundamental and chart analysis for these securities.
There is no obligation to view the full report focusing on the potential for RPRX and a fundamental chart analysis- http://broadstreetalerts.com/repros-therapeutics-rprx/.
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Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements
Compliance Procedure
Content is researched, written and reviewed on a best-effort basis by a 3rd party research provider. However, we are only human and may make mistakes. This report was prepared for informational purposes only. A full disclaimer can be found by viewing the full analyst report. We do not hold any positions and have not been compensated in any form for this press release and research report. For more information and services provided beyond this press release please use contact information provided below. If you notice any errors or omissions, please notify us.
Contact: editor@BroadStreetAlerts.com
(CRMD) to Present Post-Market Clinical Utility Data from Neutrolin Program
Data to be Presented at the 53rd Joint Congress of the European Renal Association – European Dialysis and Transplant Association
BEDMINSTER, NJ / April 12, 2016 / CorMedix Inc. (NYSE MKT: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory disease, announced that Dr. Christoph Wanner, Professor of Medicine and Director of Nephrology at the University of Wurzburg, will deliver an oral presentation titled, “A Novel Taurolidine Containing Catheter Lock Solution (CLS) Without Reported Antimicrobial Resistance, Reduces the Rates of Infection and Thrombosis in Hemodialysis Patients Enrolled in a Post-Approval Surveillance Study” at the 53rd ERA-EDTA Congress to be held May 21-24, 2015, in Vienna, Austria.
Randy Milby, CorMedix CEO, said, “The Neutrolin Usage Monitoring Program data has produced valuable insights from real world use in the EU, where Neutrolin is approved for the reduction of catheter-related blood stream infections and thrombosis. We’ve shared some general data from the program, which has demonstrated positive results consistent with our trials that appear to validate Neutrolin’s clinical utility. We look forward to presenting a more formal analysis to this esteemed gathering of nephrologists.”
Data published in the abstract will be embargoed until the time of the presentation on Monday, May 23, 2016.
About CorMedix Inc.
CorMedix Inc. is an emerging commercial-stage biopharmaceutical company that initiated a Phase 3 clinical study of a novel anti-infective solution, Neutrolin in hemodialysis patients in the United States in December 2015. The Company seeks to in-license, develop and commercialize therapeutic products for the prevention and treatment of infectious and inflammatory diseases. CorMedix’s first commercial product in Europe is Neutrolin®, a catheter lock solution for the prevention of catheter related bloodstream infections and maintenance of catheter patency in tunneled, cuffed, central venous catheters used for vascular access in hemodialysis patients, in addition to oncology patients, critical care patients, and patients receiving total parenteral nutrition, IV hydration, and/or IV medications. The FDA has granted Fast Track status to Neutrolin Catheter Lock Solution and also has designated Neutrolin as a Qualified Infectious Disease Product for oncology, hemodialysis, and critical care/intensive care patients, where catheter-related blood stream infections and clotting can be life-threatening. The initial and planned indications aim to address significant needs in catheter-based treatments in the U.S. and the rest of the world. For more information visit: www.cormedix.com.
For Investors & Media:
CorMedix
Maureen McEnroe, CFA: Maureen@machealthcare.com; (914) 588-1873
Tiberend Strategic Advisors, Inc.
Joshua Drumm, Ph.D.: jdrumm@tiberend.com; (212) 375-2664
Janine McCargo: jmccargo@tiberend.com; (646) 604-5150
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management’s expectations, beliefs, goals, plans or CorMedix’s prospects, future financial position, financing plans, future revenues and projected costs should be considered forward-looking. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, including: the results of studies regarding Neutrolin® conducted by us and others; the cost, timing and results of the planned Phase 3 trials for Neutrolin® in the U.S.; obtaining regulatory approvals to conduct clinical trials and to commercialize CorMedix’s product candidates, including marketing of Neutrolin in countries other than Europe; the risks associated with the launch of Neutrolin in new markets; CorMedix’s ability to enter into, execute upon and maintain collaborations with third parties for its development and marketing programs; CorMedix’s ability to maintain its listing on the NYSE MKT; the risks and uncertainties associated with CorMedix’s ability to manage its limited cash resources; the outcome of clinical trials of CorMedix’s product candidates and whether they demonstrate these candidates’ safety and effectiveness; CorMedix’s ability to identify and enter into strategic transactions; CorMedix’s dependence on its collaborations and its license relationships; achieving milestones under CorMedix’s collaborations; obtaining additional financing to support CorMedix’s research and development and clinical activities and operations; CorMedix’s dependence on preclinical and clinical investigators, preclinical and clinical research organizations, manufacturers, sales and marketing organizations, and consultants; and protecting the intellectual property developed by or licensed to CorMedix. These and other risks are described in greater detail in CorMedix’s filings with the SEC, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from CorMedix. CorMedix may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. CorMedix assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
(HPJ) Starts Shipments of Lithium Polymer Batteries to DJI
SAN FRANCISCO and SHENZHEN, China, April 12, 2016 — Highpower International, Inc. (“Highpower International” or “the Company”) (NASDAQ: HPJ), a developer, manufacturer, and marketer of lithium and nickel-metal hydride (Ni-MH) rechargeable batteries, and a battery management systems and battery recycling provider, today announced that the Company recently began to receive orders, and started shipping lithium polymer batteries to DJI, a globally recognized manufacturer of commercial and recreational unmanned aerial vehicles, or drones.
Highpower International has received DJI’s supplier qualification approval and began to provide lithium polymer batteries for its drones. The Company has provided its batteries for use in DJI’s Phantom 3 and Phantom 4 drone products and Highpower expects to develop its relationship with DJI further continuously.
Mr. George Pan, Chairman and Chief Executive Officer of Highpower International, stated, “We are pleased to have passed DJI’s requirements as a product manufacturer and supplier, which we feel is a strong verification of both our flexibility and capability to cover a wider spectrum of products at a global reach. We have worked with the leaders in innovative and developing technologies, including the expansion of drone technology for recreational use and commercial enterprises. Working with DJI is a significant milestone in Highpower’s lithium battery business development and represents a new and exciting segment. As a world-leading drone brand, DJI is famous for its cutting-edge technology and rigorous requirements for its products and suppliers. Considering Highpower’s comparative lithium battery advantages and DJI’s high-end technologies, we feel that this is a mutually beneficial relationship that could grow over time.”
About DJI
DJI is a leading manufacturer of commercial and recreational unmanned aerial vehicles for aerial photography and videography. Headquartered in Shenzhen, widely considered China’s Silicon Valley, DJI benefits from direct access to the suppliers, raw materials, and young, creative talent pool necessary for sustained success. Drawing on these resources, the company has grown from a single small office in 2006 to a global workforce of over 3,000. Its offices can now be found in the United States, Germany, the Netherlands, Japan, Beijing and Hong Kong. As a privately owned and operated company, DJI focuses on its own vision, supporting creative, commercial, and nonprofit applications of our technology. Today, DJI products are redefining industries. Professionals in filmmaking, agriculture, conservation, search and rescue, energy infrastructure, and more trust DJI to bring new perspectives to their work and help them accomplish feats safer, faster, and with greater efficiency than ever before.
About Highpower International, Inc.
Highpower International was founded in 2001 and produces high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based rechargeable batteries used in a wide range of applications such as electric buses, bikes, energy storage systems, power tools, medical equipment, digital and electronic devices, personal care products, and lighting. Highpower’s target customers are Fortune 500 companies, and top 10 companies in each vertical segment. With advanced manufacturing facilities located in Shenzhen, Huizhou, and Ganzhou of China, Highpower is committed to clean technology, not only in the products it makes, but also in the processes of production. The majority of Highpower International’s products are distributed to worldwide markets mainly in the United States, Europe, China and Southeast Asia.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995 that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology, and include discussions of the Company’s future performance, operations and products. Such statements involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from the results expressed or implied by such statements, including, our ability to successfully expand sales of our lithium battery product in the mobile device market and our ability to effectively compete in that market. For a discussion of these and other risks and uncertainties see “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s public filings with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.
CONTACT:
Highpower International, Inc.
Sherry Chen
+86-755-8968-6521
ir@highpowertech.com
INVESTOR RELATIONS:
The Equity Group Inc.
In China
Katherine Yao, Senior Associate
+86-10-6587-6435
kyao@equityny.com
In U.S.
Adam Prior, Senior Vice President
(212) 836-9606
aprior@equityny.com
(LBTYB) to Hold General Meeting of Shareholders
Liberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB, LBTYK, LILA and LILAK) will be holding a General Meeting of Shareholders on Wednesday, April 20, 2016, beginning at 10:00 a.m. Mountain Time (5:00 p.m. BST) at the Four Seasons Hotel Denver, 1111 14th Street, Denver, Colorado 80202. This meeting has been scheduled in connection with its previously announced proposed acquisition (the “Acquisition”) of all outstanding issued and to be issued shares of Cable & Wireless Communications Plc (“CWC”) (LSE: CWC).
Only shareholders of record of Liberty Global Class A and Class B Ordinary Shares and LiLAC Class A and Class B Ordinary Shares as of 10:00 p.m. BST (5:00 p.m. Eastern time) on March 10, 2016, may vote at the General Meeting of Shareholders. The meeting will be webcast live at www.libertyglobal.com. We intend to archive the webcast under the investor relations section of our website for approximately 30 days.
Further Information
A copy of this announcement will be made available on Liberty Global’s website at www.libertyglobal.com.
This announcement is for information purposes only and is not intended to, and does not, constitute or form part of any offer, invitation, inducement or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of or exercise rights in respect of any securities, or the solicitation of any vote or approval of an offer to buy securities in any jurisdiction, pursuant to the Acquisition or otherwise, nor shall there be any sale, issuance or transfer of securities of CWC or Liberty Global pursuant to the Acquisition in any jurisdiction in contravention of applicable law.
This announcement does not constitute a prospectus or prospectus-equivalent document.
Investors should note that, in connection with the Acquisition, Liberty Global is required to disclose, which may be on a daily basis, certain information about its share buyback program and capital structure, as well as other information relating to Liberty Global and the Acquisition. This information may be material to investors in connection with the Acquisition. This information will be posted on our website and will be released through the Regulatory News Service in the UK, as required by the Code. Therefore, we encourage investors, the media, and others interested in our company to review the information we post on our website, as well as through the Regulatory News Service, which can be accessed here:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html.
Overseas Jurisdictions
This announcement has been prepared for the purpose of complying with English law, the Code and the Listing Rules of the Financial Conduct Authority and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.
Copies of this announcement and any formal documentation relating to the Acquisition are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in or into or from any Restricted Jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in or into or from any Restricted Jurisdiction.
Securities to be issued pursuant to the Acquisition have not been and will not be registered under the relevant securities laws of Japan and the relevant clearances have not been, and will not be, obtained from the securities commission of any province of Canada. No prospectus in relation to the securities to be issued pursuant to the Acquisition has been, or will be, lodged with, or registered by, the Australian Securities and Investments Commission. Accordingly, such securities are not being, and may not be, offered, sold, resold, delivered or distributed, directly or indirectly in or into Australia, Canada or Japan or any other jurisdiction if to do so would constitute a violation of relevant laws of, or require registration thereof in, such jurisdiction (except pursuant to an exemption, if available, from any applicable registration requirements or otherwise in compliance with all applicable laws).
Therefore, any persons who are subject to the laws and regulations of any jurisdiction other than the United Kingdom or who are not resident in the United Kingdom should inform themselves about and observe any applicable requirements in their jurisdiction. Any failure to comply with the applicable requirements may constitute a violation of the laws and/or regulations of any such jurisdiction. None of the securities referred to in this announcement have been approved or disapproved by the SEC, any state securities commission in the United States or any other US regulatory authority, nor have such authorities passed upon or determined the adequacy or accuracy of the information contained in this announcement. Any representation to the contrary is a criminal offence in the United States.
Additional Information for Liberty Global Shareholders
This announcement may be deemed to be solicitation material in respect of the approvals sought at the Liberty Global General Meeting, including the issuance of Liberty Global Shares. The Company’s definitive proxy statement filed with the SEC on March 14, 2016, and other relevant materials in connection with the Acquisition (when they become available), and any other documents filed by Liberty Global with the SEC, may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, shareholders may obtain free copies of the documents filed with the SEC at Liberty Global’s website, http://www.libertyglobal.com, or by contacting Liberty Global’s Investor Relations department in writing at Liberty Global, 1550 Wewatta Street, Suite 1000, Denver, Colorado 80202, USA. SHAREHOLDERS OF LIBERTY GLOBAL SHOULD READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE ACQUISITION THAT LIBERTY GLOBAL FILES WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION.
Additional Information for CWC Shareholders
The Liberty Global Shares to be issued under the Acquisition have not been, and are not expected to be, registered under US Securities Act or under the securities laws of any state or other jurisdiction of the United States. It is expected that the Liberty Global Shares will be issued pursuant to the Scheme in reliance upon an exemption from the registration requirements of the US Securities Act set forth in Section 3(a)(10) thereof. CWC Shareholders (whether or not US persons) who are or will be affiliates (within the meaning of Rule 144 under the US Securities Act) of Liberty Global prior to, or after, the Effective Date will be subject to certain US transfer restrictions relating to the Liberty Global Shares received pursuant to the Scheme. Specifically, Liberty Global Shares delivered to such affiliated CWC Shareholders may not be offered, sold, resold, delivered, distributed or otherwise transferred, directly or indirectly, absent registration under the US Securities Act or an exemption therefrom.
About Liberty Global
Liberty Global is the largest international cable company with operations in 14 countries. We connect people to the digital world and enable them to discover and experience its endless possibilities. Our market-leading products are provided through next-generation networks and innovative technology platforms that connected 27 million customers subscribing to 57 million television, broadband internet and telephony services at December 31, 2015. In addition, we served five million mobile subscribers and offered WiFi service across six million access points.
Liberty Global’s businesses are currently attributed to two tracking stock groups: the Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK), which primarily comprises our European operations, and the LiLAC Group (NASDAQ: LILA and LILAK, OTC Link: LILAB), which comprises our operations in Latin America and the Caribbean.
Liberty Global’s consumer brands are Virgin Media, Ziggo, Unitymedia, Telenet, UPC, VTR and Liberty. Our operations also include Liberty Global Business Services and Liberty Global Ventures. For more information, please visit www.libertyglobal.com.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
THE FOLLOWING ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION IN RELATION TO THE LIBERTY GLOBAL GROUP CLASS A ORDINARY SHARES, THE LIBERTY GLOBAL GROUP CLASS C ORDINARY SHARES, THE LILAC GROUP CLASS A ORDINARY SHARES OR THE LILAC GROUP CLASS C ORDINARY SHARES, EXCEPT ON THE BASIS OF THE INFORMATION IN THE SCHEME DOCUMENT, THE PROSPECTUS AND THE PROXY STATEMENT.
Liberty Global
Investor Relations:
Oskar Nooij, +1 303 220 4218
or
Christian Fangmann, +49 221 8462 5151
or
John Rea, +1 303 220 4238
or
Corporate Communications:
Matt Beake, +44 20 8483 6428
or
Aimee Baxter, +1 646 561 3512
(RPRX) Reports Positive Clinical Data for Vaginal Proellex®
- Primary endpoint of induction of amenorrhea met for both vaginal doses compared to placebo, p<0.0011
- Proellex®-treated subjects reported a median 100% reduction in diary reports of menstrual bleeding product usage (PBAC)
- Statistically significant reduction in fibroid size from baseline achieved for the combined active arms compared to increase in fibroid volume in placebo arm, p=0.0437
- Low dose oral data from a comparable study to be reported in Q2 2016
THE WOODLANDS, Texas, April 12, 2016 — Repros Therapeutics Inc.® (Nasdaq:RPRX) today reported that vaginal administration of Proellex® at doses of both 6 and 12 mg achieved significant reduction in excessive menstrual bleeding, the key symptom of uterine fibroids.
Normal menstrual blood loss in a menstrual cycle is approximately 35 mL. Woman experiencing blood loss of >80 mL are considered to suffer from menorrhagia or excessive menstrual bleeding. In this small Phase 2b study, 13, 15 and 14 women with confirmed uterine fibroids were enrolled in the 6mg, 12mg and placebo arms, respectively. At baseline, the mean amount of blood lost for one menstrual cycle was 255 mL, 274 mL and 238 mL for each arm, respectively. The blood loss ranged from a low of 94 mL to a high of 654 mL. The most severe menstrual bleeding at baseline was observed in the 12 mg group. Blood loss was determined by collecting all sanitary products used from an individual and then an alkaline hematin assay was performed to estimate the actual amount of blood collected in the pads.
When a sufficient concentration of Proellex® is achieved in circulation, amenorrhea (cessation of menses) is achieved. Just over half, 52%, of Proellex®-treated subjects became amenorrheic with no evidence of a dose effect. All subjects treated with Placebo continued to menstruate throughout the 18 week dosing period. The p-value for this comparison is 0.0011. Bleeding diaries consistently report a statistically significant difference in the number of days of bleeding and bleeding intensity between those treated with Proellex® and Placebo.
Bleeding was also evaluated by PBAC (Pictorial Blood Assessment Chart). Subjects tallied sanitary product usage and stain size as guided by the chart. Proellex®-treated subjects reported a median 100% reduction in PBAC scores while Placebo-treated subjects reported a 25.4% reduction, further supporting the treatment affect associated with bleeding (p=0.0033).
Along with changes in menstrual patterns, fibroids measured by MRI were reduced in volume in the Proellex®-treated arms by 18% while the Placebo group showed continued increase in size, p= 0.0437.
The drug was generally well tolerated. Women in the drug arms continued to exhibit levels of estradiol consistent with bone preservation.
After the first 18 week treatment period, the women were withdrawn from drug to allow for menses. The women in the study are currently being treated with the second course of treatment for another 18 weeks. The study treatment assignment remains blinded to the subjects, physicians and those managing the study and data. The results of the second course of treatment should be reported within the next 5 months.
The Company believes Proellex® represents a significant advantage over GnRH agonists and antagonists in the treatment of uterine fibroids. Once both the vaginal and oral studies complete both 18 week courses of treatment the Company plans to request an end of Phase 2 meeting with the FDA to jointly discuss plans for Phase 3.
About Repros Therapeutics Inc.®
Repros Therapeutics focuses on the development of small molecule drugs for major unmet medical needs that treat male and female reproductive disorders.
Forward-Looking Statements
Any statements made by the Company that are not historical facts contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to various risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These statements often include words such as “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” “believe,” “plan,” “seek,” “could,” “can,” “should” or similar expressions. These statements are based on assumptions that the Company has made in light of the Company’s experience in the industry, as well as the Company’s perceptions of historical trends, current conditions, expected future developments and other factors the Company believes are appropriate in these circumstances. Forward-looking statements include, but are not limited to, those relating to ongoing and future clinical studies and the timing and results thereof, the Company’s plans to communicate with the FDA, possible submission of one or more NDAs and the commercial potential of Proellex®, risks relating to the Company’s ability to protect its intellectual property rights and such other risks as are identified in the Company’s most recent Annual Report on Form 10-K and in any subsequent quarterly reports on Form 10-Q. These documents are available on request from Repros Therapeutics or at www.sec.gov. Repros disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please visit the Company’s website at http://www.reprosrx.com.
CONTACT: Investor Relations: Thomas Hoffmann The Trout Group (646) 378-2931 thoffmann@troutgroup.com
(CNCK) Partners With All-Natural Leaner Creamer to Promote a Healthier Java Habit
LOS ANGELES, CA–(Apr 12, 2016) – Content Checked Holdings, Inc. (OTCQB: CNCK) (“Content Checked”), a creator of mobile applications for people with dietary restrictions, today announced a partnership with Leaner Creamer, the only all-natural powdered coffee creamer that promotes weight loss and appetite suppression. The partnership will entail a cross-promotional marketing campaign that will further elevate both parties with health conscious audiences promoting sales and overall brand awareness.
“We are thrilled to be working with Leaner Creamer as it aligns directly with our mission — to better the lives of individuals with dietary restrictions,” said Kris Finstad, CEO and founder of Content Checked. “We truly believe that this healthier alternative will aid in better nutrition habits and weight loss for individuals who are seeking a viable alternative to traditional, calorie-rich, dairy-based creamers.”
Content Checked will leverage Leaner Creamer’s extensive social media presence and celebrity endorsements to further its brand and help drive traffic to its website and encourage downloads. Leaner Creamer will align with Content Checked’s platform, backed by nutritionists, to highlight the product’s all-natural, coconut oil-based blend of citrus aurantium extract, hoodia and green tea extract which promote weight loss.
“With a quick scan-in, Content Checked lets consumers find products that fit within their lifestyle, worry free,” said Jonathan Kashani, CEO of Leaner Creamer. “As a product designed specifically for individuals with gluten and lactose intolerances, we are so proud to be working hand-in-hand to empower consumers as they. make healthier choices.”
About Leaner Creamer
Leaner Creamer LLC is a family owned company headquartered in Los Angeles, California. They are innovators in the diet and health industry, dedicated to providing healthy and delicious alternatives to creamers that are high in fat and laden with chemicals. Leaner Creamer LLC maintains an uncompromising commitment to quality and to promoting health.
About Content Checked
Content Checked Holdings, Inc. (www.contentchecked.com) has created a revolutionary marketplace for people with dietary restrictions and the organizations who cater to them by creating and introducing the ContentChecked, MigraineChecked and SugarChecked smartphone applications. ContentChecked and MigraineChecked are the first applications with comprehensive and accurate content information, and in-depth allergen and migraine definitions for over 70% of conventional U.S. food products.
Each app gives consumers the ability to scan a product’s bar code and determine if it is safe for consumption based on their allergy settings. The apps will recommend a suitable alternative if a product does contain one or more of a user’s allergens. This enables the applications to meet the needs of millions of people in the U.S. In the U.S. alone, there are more than 15 million people who suffer from food allergies and 38 million people who suffer from migraines and chronic headaches. The food allergy and intolerances market has been valued at approximately US$13 billion in 2015. As a result, Content Checked has created a pivotal way for food manufacturers and producers to showcase their products to consumers who are actively seeking them at the point of purchase.
Content Checked has created a robust database of allergens, migraine triggers and food ingredients that directly correlate with food allergies, intolerances, migraines and chronic headaches. There are currently hundreds of thousands of products in its database, updated regularly. All applications serve as easy shopping tools for consumers to decipher often misleading food labels and receive recommendations for healthier alternative products as they shop in real time. Content Checked’s mission is to offer fast, reliable and efficient mobile apps that help consumers make more informed purchasing decisions and live healthier lives in accordance to their dietary preferences.
For more information on the Company, please visit its social media channels via Facebook (www.facebook.com/contentchecked), (www.facebook.com/migrainechecked) and (www.facebook.com/sugarchecked); Instagram (www.instagram.com/contentchecked), (www.instagram.com/migrainechecked) and (www.instagram.com/sugarchecked); or
YouTube (www.youtube.com/channel/UCMihoaZILlRZ2C3hmx5vXhQ).
Media Contact:
Aly Crea
aly@pmcgroup.com
310-777-7546
(VKTX) Presents Positive Phase 1b Clinical Data on VK2809
Novel Oral Thyroid Receptor Agonist Triggers Substantial and Clinically Meaningful Reductions in LDL Cholesterol, Triglycerides and Key Atherogenic Proteins Presentation Receives “Best Poster” Award from ACC Conference
SAN DIEGO, April 11, 2016 — Viking Therapeutics, Inc. (“Viking”) (NASDAQ: VKTX), a clinical-stage biopharmaceutical company focused on the development of novel, first-in-class or best-in-class therapies for metabolic and endocrine disorders, today highlighted positive data from a Phase 1b clinical trial of VK2809 in subjects with mild hypercholesterolemia, presented at the 65th Annual Scientific Session & Expo of the American College of Cardiology (ACC). The results demonstrated substantial and clinically meaningful reductions in subjects’ low-density lipoprotein cholesterol (LDL-C), triglycerides, and atherogenic proteins lipoprotein-a and apolipoprotein B following 14 days of treatment. VK2809 is a novel, orally available small molecule thyroid receptor agonist that possesses selectivity for liver tissue, as well as the beta receptor subtype, suggesting promising therapeutic potential in this patient population.
The randomized, double-blind, placebo-controlled Phase 1b study was designed to evaluate the safety, tolerability and pharmacokinetics of VK2809, at a range of doses, in 56 subjects with elevated serum cholesterol (n = 6 per drug-treated cohort). Following 14 days of VK2809 treatment, subjects demonstrated clinically and statistically significant placebo-adjusted reductions in LDL-C ranging from 15.2% at the 5.0 mg dose (p=0.026) to 41.2% at the 20 mg dose (p<0.0001). In addition, subjects experienced placebo-adjusted reductions in triglycerides ranging from 34.8% at 5.0 mg dose (p=0.052) to 78.6% at the 40 mg dose (p=0.0001). Significant reductions in lipoprotein-a and apolipoprotein B were also observed, with declines of 30% or more reported at all doses above 2.5 mg.
Treatment with VK2809 was also shown to be safe and well-tolerated at all doses studied. No serious adverse events were reported and no treatment- or dose-related trends were observed for abnormal vital signs, electrocardiograms, cardiac rhythm or physical examination assessments. Consistent with liver-targeted thyroid receptor activation, mild, asymptomatic elevations in liver enzymes and decreased thyroid hormone levels were observed at higher doses. Metabolically, VK2809 was not eliminated intact through the kidneys, and less than 3% of the administered dose was eliminated through the kidneys as the drug’s active metabolite, VK2809A.
“We believe these results provide compelling preliminary evidence of VK2809’s efficacy in this important indication. The observed statistically significant effects in a trial of this size and duration are quite promising and demonstrate the potential therapeutic benefits of thyroid receptor modulation for lipid dysregulation,” said Brian Lian, Ph.D., chief executive officer of Viking. “These data, combined with VK2809’s novel liver-targeted delivery and mechanism of action, as well as prior in vivo data demonstrating robust reductions in hepatic fat content, provide a strong rationale for applications in settings such as hypercholesterolemia and fatty liver disease. We believe that receipt of a Best Poster award from a conference of this stature reinforces the potential importance of the results. We are focused on further establishing the safety and efficacy profile of VK2809 and continue to prepare for our upcoming Phase 2 clinical trial, which we expect to initiate mid-year.”
Viking is currently planning to initiate a Phase 2 clinical trial of VK2809 in patients with hypercholesterolemia and fatty liver disease. The Phase 2 clinical trial will be a randomized, double-blind, placebo-controlled, parallel group study designed to evaluate the efficacy, safety and tolerability of VK2809 in patients with elevated LDL-C and fatty liver disease.
About VK2809
VK2809 is an orally available, tissue and receptor-subtype selective agonist of the thyroid beta receptor entering Phase 2 development for the treatment of patients with hypercholesterolemia and fatty liver disease. VK2809 belongs to a family of novel prodrugs which are cleaved in vivo to release potent thyromimetics. Selective activation of the TRß receptor in liver tissue is believed to favorably affect cholesterol and lipoprotein levels via multiple mechanisms, including increasing the expression of low-density lipoprotein (LDL) receptors and increasing mitochondrial fatty acid oxidation. These characteristics suggest a highly differentiated therapeutic profile relative to existing oral options for patients with hypercholesterolemia and fatty liver disease, such as nonalcoholic steatohepatitis (NASH). The potential markets for these indications are significant. In the U.S., approximately 33% of adults, or 71 million people, have elevated LDL cholesterol. Additionally, NASH is rapidly becoming a leading cause of cirrhosis and liver failure and affects an estimated 6 to 15 million Americans.
About Viking Therapeutics, Inc.
Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development of novel, first-in-class or best-in-class therapies for metabolic and endocrine disorders. The company’s research and development activities leverage its expertise in metabolism to develop innovative therapeutics designed to improve patients’ lives. Viking has exclusive worldwide rights to a portfolio of five therapeutic programs in clinical trials or preclinical studies, which are based on small molecules licensed from Ligand Pharmaceuticals Incorporated. The company’s clinical programs include VK5211, an orally available, non-steroidal selective androgen receptor modulator, or SARM, in Phase 2 development for the treatment and prevention of lean body mass loss in patients who have undergone hip fracture surgery, VK2809, a small molecule thyroid beta agonist entering Phase 2 development for hypercholesterolemia and fatty liver disease, and VK0612, a first-in-class, orally available drug candidate in Phase 2 development for type 2 diabetes. Viking is also developing novel and selective agonists of the thyroid beta receptor for adrenoleukodystrophy, as well as two earlier-stage programs targeting metabolic diseases and anemia.
Forward Looking Statements
This press release contains forward-looking statements regarding Viking Therapeutics, including statements about Viking’s expectations regarding the company’s proposed Phase 2 clinical trial for VK2809, as well as VK2809’s potential to produce therapeutic benefits. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: risks associated with the success, cost and timing of Viking’s product candidate development activities and clinical trials; and risks regarding regulatory requirements, among others. These forward-looking statements speak only as of the date hereof. Viking disclaims any obligation to update these forward-looking statements.
(ASM) announces Q1 2016 production results
NYSE-MKT: ASM
TSX-V: ASM
FSE: GV6
VANCOUVER, April 11, 2016 – Avino Silver & Gold Mines Ltd. (ASM: TSX-V, ASM: NYSE–MKT, GV6: FSE, “Avino” or “the Company”) is pleased to report its first quarter 2016 production results from its Avino property near Durango, Mexico.
Consolidated Production Highlights for First Quarter 2016 (Compared to First Quarter 2015)
- Silver equivalent production increased by 10% to 715,933 oz*
- Silver production increased by 11% to 403,447 oz
- Gold production decreased by 14% to 1,497 oz
- Copper production increased by 55% to 1,350,912 Lbs
* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $14.84 oz Ag, $1,180 oz Au and $2.12 Lb Cu. Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due to rounding. |
With a steady first quarter behind us, 2016 is shaping up to be a solid year for Avino. Our operations team delivered another quarter of consistent production and development at the San Gonzalo and Avino Mines respectively, putting us in a strong position to achieve our goals for the year. In 2016 our objectives are to continue to focus on efficient operations including improving recovery rates, meeting production targets, controlling costs and transitioning the Avino Mine from the development phase to underground mining. Underground Mining commenced on April 1 on upper level 11.5 using the long-hole sub-level caving method, which is a cost effective method of extraction.
David Wolfin, President, CEO & Director, Avino Silver & Gold Mines Ltd.
Consolidated First Quarter 2016 Production Highlights
Comparative production results from the first quarter 2016 and the first quarter 2015 are presented below:
Q12016 | Q12015 | % Change | |
Total Silver Produced (oz) calculated | 403,447 | 363,210 | 11% |
Total Gold Produced (oz) calculated | 1,497 | 1,750 | -14% |
Total Copper Produced (Lbs) calculated | 1,350,912 | 872,884 | 55% |
Total Silver Eq. Produced (oz) calculated* | 715,933 | 652,619 | 10% |
* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $14.84 oz Ag, $1,180 oz Au and $2.12 Lb Cu. Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due to rounding. |
Avino Mine First Quarter 2016 Production Highlights
Comparative figures for the first quarter 2016 and the first quarter 2015 for the Avino Mine are as follows; production figures for the first quarter 2016 include production from Mill Circuit 2 and Mill Circuit 3:
Q12016 | Q12015 | QuarterlyChange % | Notes | |
Tonnes Mined | 99,199 | 36,318 | 173% | 1 |
Underground Advancement (m) | 1,143 | 980 | 17% | 1 |
Mill Availability (%) | 97 | 96 | 1% | 2 |
Total Mill Feed (dry tonnes) | 119,515 | 76,547 | 56% | 2 |
Feed Grade Silver (g/t) | 68 | 64 | 6% | 4 |
Feed Grade Gold (g/t) | 0.27 | 0.36 | -26% | 5 |
Feed Grade Copper (%) | 0.58 | 0.58 | 0% | 3 |
Recovery Silver (%) | 87% | 89% | -3% | 4 |
Recovery Gold (%) | 67% | 82% | -18% | 5 |
Recovery Copper (%) | 89% | 89% | 0% | 3 |
Copper Concentrate (dry tonnes) | 2,712 | 1,775 | 53% | 3 |
Copper Concentrate Grade Silver (kg/t) | 2.60 | 2.46 | 5% | 4 |
Copper Concentrate Grade Gold (g/t) | 7.87 | 12.61 | -38% | 5 |
Copper Concentrate Grade Copper (%) | 22.6 | 22.3 | 1% | 3 |
Total Silver Produced (kg) | 7,038 | 4,371 | 61% | 4 |
Total Gold Produced (g) | 21,353 | 22,391 | -5% | 5 |
Total Copper Produced (Kg) | 612,764 | 395,934 | 55% | 3 |
Total Silver Produced (oz) calculated | 226,264 | 140,518 | 61% | 4 |
Total Gold Produced (oz) calculated | 687 | 720 | -5% | 5 |
Total Copper Produced (Lbs) calculated | 1,350,912 | 872,884 | 55% | 3 |
Total Silver Equivalent Produced (oz) calculated* | 474,206 | 319,216 | 48% | 6 |
* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $14.84 oz Ag, $1,180 oz Au and $2.12 Lb Cu. Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due to rounding. |
.
First Quarter 2016 Highlights
- Tonnes mined and metres advanced increased by 173% and 17% respectively as there were more working faces available in the first quarter of 2016 compared to 2015; also there was an additional jumbo available in 2016.
- Tonnes processed for the quarter increased by 56% over the first quarter of 2015. The additional tonnage was mainly from the use of Mill Circuit 2 to process Avino material in addition to Mill Circuit 3 . Also, the slightly higher mill availability resulted in an increased throughput.
- Concentrate tons and copper produced increased by 53% and 55% respectively due to the higher tonnage processed, as there was no change to the feed grade and recovery for copper, and only a slight change to the concentrate grade.
- Silver production increased by 61% on account of the higher feed grade and higher tonnage processed despite lower recoveries.
- Gold production decreased by 5%, mainly due to lower feed grade and recovery. Mining in the first quarter occurred in an area where the gold grades are typically low.
- All the above resulted in 48% more silver equivalent ounces produced compared to the first quarter of 2015.
San Gonzalo Mine First Quarter 2016 Production Highlights
Comparative figures for the first quarter 2016 and the first quarter 2015 for the San Gonzalo mine are as follows:
Q12016 | Q12015 | QuarterlyChange % | Notes | |
Tonnes Mined | 24,402 | 26,712 | -9% | 1 |
Underground Advancement (m) | 1,183 | 1,181 | 0% | 1 |
Mill Availability (%) | 95 | 95 | 0% | 1 |
Total Mill Feed (dry tonnes) | 20,601 | 18,809 | 10% | 2 |
Feed Grade Silver (g/t) | 318 | 308 | 3% | 5 |
Feed Grade Gold (g/t) | 1.49 | 1.54 | -4% | 4 |
Recovery Silver (%) | 84 | 84 | 0% | 5 |
Recovery Gold (%) | 82 | 75 | 7% | 4 |
Bulk Concentrate (dry tonnes) | 800 | 607 | 32% | 3 |
Bulk Concentrate Grade Silver (kg/t) | 6.85 | 8.02 | -15% | 3 |
Bulk Concentrate Grade Gold (g/t) | 27 | 35.9 | -25% | 3 |
Total Silver Produced (kg) | 5,511 | 4,871 | 13% | 5 |
Total Gold Produced (g) | 25,193 | 21,789 | 16% | 4 |
Total Silver Produced (oz) calculated | 177,183 | 156,606 | 13% | 5 |
Total Gold Produced (oz) calculated | 810 | 701 | 16% | 4 |
Total Silver Equivalent Produced (oz) calculated* | 241,727 | 212,346 | 14% | 6 |
* For comparison purposes, the silver equivalent ratio has been calculated using metal prices of $14.84 oz Ag, $1,180 oz Au and $2.12 Lb Cu. Mill production figures have not been reconciled and are subject to adjustment with concentrate sales. Calculated figures may not add up due to rounding. |
First Quarter 2016 Highlights
- First Quarter tonnage mined was within budget even though it was 9% lower than the same quarter last year. There was no change in underground metres advanced and mill availability.
- Tonnage processed also was within budget but increased by 10% due to the ball mill being relined during the corresponding quarter last year.
- Bulk concentrate tonnage produced increased by 32%. The increase in tonnage was due to the lower silver and gold grades in the concentrate which were 15% and 25% lower, respectively.
- Gold production increased by 16% due to the 7% improvement in recovery as a result of the use of a gravity concentrator.
- Silver production increased by 13% due to higher tonnage processed and higher feed grade; there was no change in the silver recovery.
- All the above resulted in a 14% increase in silver equivalent ounces produced during the quarter.
Quality Assurance/Quality Control
Mill assays are performed at the Avino property’s on-site lab. Check samples are sent to Inspectorate Labs in Reno, Nevada for verification. All concentrate shipments are assayed by one of the following independent third party labs: AHK, LSI, Alex Stewart and SGS.
Qualified Person(s)
Avino’s Mexican projects are under the supervision of Chris Sampson, P.Eng, Avino consultant and Jasman Yee P.Eng, Avino director, who are both qualified persons within the context of National Instrument 43-101. Both have reviewed and approved the technical data in this news release.
About Avino
Avino’s mission is to create shareholder value through profitable organic growth at the historic Avino property near Durango, Mexico, and the Bralorne property in southwestern British Columbia, Canada. We are committed to managing all business activities in an environmentally responsible and cost-effective manner while contributing to the well-being of the communities in which we operate.
ON BEHALF OF THE BOARD
“David Wolfin”
________________________________
David Wolfin
President & CEO
Avino Silver & Gold Mines Ltd.
Safe Harbor Statement – This news release contains “forward-looking information” and “forward-looking statements” (together, the “forward looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including our belief as to the extent and timing of various studies including the PEA, exploration results, the potential tonnage, grades and content of deposits, and timing, establishment and extent of resource estimates. These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements.
Such factors and assumptions include, among others, the effects of general economic conditions, the price of gold, silver and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of preparing forward-looking information. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers, directors or promoters with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of our common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
Cautionary Note to United States Investors – The information contained herein and incorporated by reference herein has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States securities laws. In particular, the term “resource” does not equate to the term “reserve”. The Securities Exchange Commission’s (the “SEC”) disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by SEC standards, unless such information is required to be disclosed by the law of the Company’s jurisdiction of incorporation or of a jurisdiction in which its securities are traded. U.S. investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Disclosure of “contained ounces” is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
(AMRS) Creates Program to Reduce the Cost and Increase Access to Leading Malaria Treatment
EMERYVILLE, Calif., April 11, 2016 — Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced the signing of a stock purchase agreement for a $5-million equity investment from the Bill & Melinda Gates Foundation. The investment is to fund a program to further reduce the cost of one of the world’s leading malaria treatments so that no child has to go without treatment for malaria. The program will focus on the continued production of high-quality and secure supplies of artemisinic acid and amorphadiene to be converted to artemisinin for use in artemisinin combination therapies (“ACTs”). ACTs are recommended by the World Health Organization (“WHO”) as the primary first-line treatment for malaria.
“We are very pleased with the Gates Foundation’s commitment to eradicating Malaria and are happy to be a part of this effort,” said John Melo, Amyris President & CEO. “We believe in a world where no child should go untreated and that no parent should have to make a choice between treating their child or feeding their family. Lower cost and sustainably-produced artemisinin is a key part of the spectrum of solutions that can help eradicate this disease from our planet.”
Continued Melo, “It is only through the work of public-private partnerships that these solutions can occur. With an advanced and proven platform, Amyris’s technology can, among other things, be used to accelerate drug discovery cost effectively while improving the global supply of important pharmaceuticals. And, we believe it is also poised to help leading pharmaceutical companies respond rapidly to pandemic crises, making the world a safer place for all of us.”
Amyris’s founding purpose was to demonstrate that biotechnology can be used to help solve some of the world’s most pressing problems, such as those outlined in the UN’s overall Millennium Development Goals. The company’s first major milestone came in 2005 when Amyris’s scientists developed technology capable of creating microbial strains to produce artemisinic acid.
Leading Science Recognized by the United Nations for Supporting Global Goals
Amyris was recognized in 2015 with a United Nations Global Citizen Award based on its contributions toward several aspects of the UN’s overall Millennium Development Goals, which are aligned toward reversing the global poverty, hunger and disease affecting billions of people. Among these contributions was the development of a synthetic source for the production of artemisinin.
Financial Details
Under the stock purchase agreement, the Gates Foundation agreed to purchase approximately $5 million of Amyris common stock at $1.14 per share, the average of the daily closing price per share of the common stock on NASDAQ for the twenty days prior to signing. Amyris expects the closing to occur on or about April 29, 2016, subject to customary closing conditions. Additional details of the transaction and a description of the securities are included in a related Current Report on Form 8-K, which the company filed today with the Securities and Exchange Commission (SEC) in conjunction with this news release.
About Amyris
Amyris is the integrated renewable products company that is enabling the world’s leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules, specialty ingredients and consumer products. The company is delivering its No Compromise® products in focused markets, including specialty and performance chemicals, fragrance ingredients, and cosmetic emollients. More information about the company is available at www.amyris.com.
Forward-Looking Statements
This release contains forward-looking statements, and any statements other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as the company’s expectation that the closing of the transaction will occur on or about April 29, 2016 subject to closing conditions, ability to accelerate drug discovery cost effectively while improving global supply and for the company’s technology platform to be leveraged by leading pharmaceutical companies to rapidly respond to pandemic crisis) that involve risks and uncertainties. These statements are based on management’s current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to satisfaction of closing conditions set forth in the purchase agreement, manufacturing capacity at Amyris’s Brotas facility, delays or failures in development, production and commercialization of products, liquidity and ability to fund capital expenditures, Amyris’s reliance on third parties to achieve its goals, and other risks detailed in the “Risk Factors” section of Amyris’s quarterly report on Form 10-K filed on March 30, 2016. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
Amyris is a registered trademark of Amyris, Inc. All other trademarks are trademarks of their respective holders.
Peter DeNardo Director, Investor Relations and Corporate Communications Amyris, Inc. +1 (510) 740-7481 investor@amyris.com pr@amyris.com
(MNKD) to Discuss U.S. Commercialization Update for Afrezza®
– Analyst Call Scheduled for April 19, 2016 at 5:00 PM EDT –
VALENCIA, Calif., April 11, 2016 — MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) will host an analyst call for the investment community to learn about the company’s general commercialization strategy in the US for Afrezza® (insulin human) Inhalation Powder. MannKind has recently assumed responsibility for the worldwide development and commercialization of Afrezza from Sanofi and will begin to distribute Afrezza in the third quarter. Until that time, Sanofi will continue to distribute Afrezza from its existing inventory of product.
To participate in the live call by telephone, please dial (888) 224-7957 or (303) 223-4394 and use the participant passcode: 21809665. Those interested in listening to the conference call live via the Internet may do so by visiting the Company’s website at http://www.mannkindcorp.com.
A telephone replay of the call will be accessible for approximately 14 days following completion of the call by dialing (800) 633-8284 or (402) 977-9140 and use the participant passcode: 21809665. A replay will also be available on MannKind’s website for 14 days.
MannKind’s Chief Executive Officer, Matthew J. Pfeffer, and Chief Commercial Officer, Michael E. Castagna, will discuss the strategic commercial approach for Afrezza in the U.S. The discussion will include plans for sales and marketing of Afrezza, including reimbursement and access programs for patients, marketing programs and expansion plans. Timelines for relaunch activities will also be discussed.
MannKind plans to report quarterly earnings on May 9, 2016 and will discuss financial results of the first quarter of 2016 and future financial projections for the remainder of 2016 and beyond at that time.
INDICATION
Prescription Afrezza® (insulin human) Inhalation Powder is a rapid-acting inhaled insulin used to treat adults with diabetes for the control of high blood sugar.
LIMITATIONS OF USE
Do not use Afrezza as a substitute for long-acting insulin; Afrezza must be used in combination with long-acting insulin in patients with type 1 diabetes.
Do not use Afrezza to treat diabetic ketoacidosis.
Afrezza is not recommended in patients who smoke or who have recently stopped smoking.
IMPORTANT SAFETY INFORMATION FOR AFREZZA
WARNING: RISK OF ACUTE BRONCHOSPASM IN PATIENTS WITH CHRONIC LUNG DISEASE
- Acute bronchospasm has been observed in patients with asthma and COPD using Afrezza.
- Afrezza is contraindicated in patients with chronic lung disease such as asthma or COPD.
- Before initiating Afrezza, perform a detailed medical history, physical examination, and spirometry (FEV1) to identify potential lung disease in all patients.
Do not use Afrezza if you have problems with your lungs, such as asthma or COPD. Do not use Afrezza during a low blood sugar reaction (hypoglycemia). If you are allergic to any of the ingredients in Afrezza, do not use Afrezza as this may cause a significant and severe allergic reaction.
Before using Afrezza, your doctor will take a medical history, and do a physical exam and a breathing test (called spirometry) to determine if you have lung problems. Patients with lung problems should not use Afrezza. If your doctor finds you have lung problems, use of Afrezza may cause a severe asthma-like breathing problem. Afrezza can reduce lung function, so your doctor will also want to test your breathing 6 months after starting Afrezza, and then each year after that, with more frequent testing done if you have symptoms such as wheezing or coughing. Tell your doctor if you currently have lung cancer or have had it in the past, or if you have an increased risk of developing lung cancer.
You must test your blood sugar levels while using insulin, such as Afrezza. Do not make any changes to your dose or type of insulin without talking to your healthcare provider. Any change of insulin should be made carefully and only under your doctor’s care.
The most common side effect of insulin, including Afrezza® (insulin human) Inhalation Powder, is low blood sugar (hypoglycemia), which can be serious and life-threatening. Some people may experience symptoms such as shaking, sweating, fast heartbeat, and blurred vision. It may cause harm to your heart or brain. It is important for you to understand how to manage the use of Afrezza, and to understand how to lessen the risk of hypoglycemia events.
Tell your doctor about other medicines you take, especially ones commonly called TZDs (thiazolidinediones) and supplements, because they can change the way insulin works. If you have heart failure or other heart problems, it may get worse while you take TZDs with Afrezza. Before starting Afrezza, it is important to tell your doctor about all your medical conditions including if you have a history of lung problems, if you are pregnant or plan to become pregnant, or if you are breast-feeding or planning to breast-feed.
In addition to low blood sugar (hypoglycemia), other possible side effects associated with Afrezza include cough, throat pain or irritation, headache, diarrhea, tiredness, and nausea.
Please see full Prescribing Information for Afrezza, including Boxed WARNING and www.afrezza.com.
About Afrezza®
Afrezza is available in 4-unit, 8-unit and 12-unit single-dose cartridges of insulin powder that can be used, as prescribed by a health care professional, in combination with other diabetes medications to achieve target blood sugar levels. For Afrezza doses exceeding 12 units, patients may use a combination of 4 unit, 8 unit and 12-unit cartridges. The disposable inhaler can be used for up to 15 days, should be kept in a clean, dry place with the mouthpiece cover on and may be wiped with a clean, dry cloth if needed.
About MannKind Corporation
MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding MannKind’s ability to directly commercialize Afrezza and the commercial potential of Afrezza. Words such as “believes”, “anticipates”, “plans”, “expects”, “intend”, “will”, “goal”, “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the MannKind’s current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the ability to generate significant product sales for MannKind, difficulties or delays in obtaining regulatory feedback or completing and analyzing the results of clinical studies, MannKind’s ability to manage its existing cash resources or raise additional cash resources, stock price volatility and other risks detailed in MannKind’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2015 and subsequent periodic reports on Form 10-Q and current reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
Company Contact: Rose Alinaya SVP, Finance 661-775-5300 ralinaya@mannkindcorp.com
(UEPS) Announces $107 Million Equity Investment by IFC, IFC Asset Management
JOHANNESBURG, SOUTH AFRICA–(April 11, 2016) – Net 1 UEPS Technologies, Inc. (“Net1” or the “Company”) (NASDAQ: UEPS) (JSE: NT1) today announced that it has entered into an agreement with International Finance Corporation and certain funds managed by IFC Asset Management Company (collectively, “IFC”) pursuant to which IFC has agreed to subscribe for 9.98 million shares of the Company’s common stock at a subscription price of $10.79 per share, for total proceeds of $107.7 million. The subscription price represents a 20,6% premium over the closing price of the Company’s shares on Nasdaq on April 8, 2016. IFC will have an 18% interest in the Company following the transaction. Net1 will use the proceeds of the IFC investment primarily for the expansion of its business and technological solution in emerging markets across the globe.
IFC is a member of the World Bank Group and is the largest global development institution focused on the private sector in emerging markets. IFC has been investing in disruptive technologies around the world to help expand access to financial services and as of March 2016 had invested approximately $180 million in 26 financial technology companies around the world, servicing over 220 million people. This is on top of billions of dollars already invested in its successful, decades-long program in support of traditional banks and microfinance institutions.
Closing of the investment is expected to occur during the month of April. IFC will have the right to nominate an independent director to the Net1 board.
“IFC’s equity investment in Net1 represents a landmark moment for the Company,” said Serge Belamant, Chairman and CEO of Net1. “We are honored that IFC has selected Net1 for its largest investment ever in the financial technology sector. IFC’s investment recognizes the achievements, disruptive technologies and business model of the Company and its employees. We are completely aligned with IFC through our shared vision of providing financial inclusion to the billions of unbanked and under-banked citizens of the world and we look forward to the opportunities presented by IFC’s expansive global network and expertise,” he concluded.
Atul Mehta, IFC Director of Telecoms, Media and Technology, said: “Net1 has created impressive propriety technology for the delivery of services and demonstrated its effectiveness in South Africa. IFC and IFC AMC’s funds’ investments will help Net1 expand regionally, especially into African countries where there is limited banking infrastructure and availability of financial services for the poorest segments of the population.”
Gavin E.R. Wilson, CEO of IFC Asset Management Company, said: “Our investment in Net1 recognizes the Company’s demonstrated ability to provide efficient payments services to the unbanked and underbanked in South Africa while innovating in commercially viable ways. Our goal is to help Net1 use its technology to broaden its product offering and expand its customer base to other countries.”
About Net1 (www.net1.com)
Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System (“UEPS”) or utilize its proprietary mobile technologies. The Company operates market-leading payment processors in South Africa and the Republic of Korea. Through Transact24, Net1 offers debit, credit and prepaid processing and issuing services for Visa, MasterCard and ChinaUnionPay in China and other territories across Asia-Pacific, Europe and Africa, and the United States. Through Masterpayment, Net1 provides payment processing and enables working capital financing in Europe.
UEPS permits the Company to facilitate biometrically secure, real-time electronic transaction processing to unbanked and under-banked populations of developing economies around the world in an online or offline environment. Net1’s UEPS/EMV solution is interoperable with global EMV standards that seamlessly enable access to all the UEPS functionality in a traditional EMV environment. In addition to payments, UEPS can be used for banking, healthcare management, payroll, remittances, voting and identification.
Net1’s mobile technologies include its proprietary mobile payments solution – MVC, which offers secure mobile-based payments, as well as mobile banking and prepaid value-added services in developed and emerging countries. The Company intends to deploy its varied mobile solutions through its ZAZOO business unit, which is an aggregation of innovative technology companies and is based in the United Kingdom.
Net1 has a primary listing on the NASDAQ and a secondary listing on the Johannesburg Stock Exchange.
About IFC (www.ifc.org)
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity.
About IFC Asset Management Company (www.ifcamc.org)
IFC Asset Management Company LLC (AMC), a wholly-owned subsidiary of IFC, invests third party capital, enabling investors to benefit from IFC’s expertise in achieving strong equity returns, as well as positive development impact in the countries in which it invests. AMC has raised $8.7 billion of capital across 11 investment funds. Three AMC managed funds, including the IFC African, Latin American and Caribbean Fund (ALAC Fund), the IFC Financial Institutions Growth Fund (FIG Fund) and the Africa Capitalization Fund, are participating in the Net 1 investment. For more information.
Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical fact, included in this press release regarding strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that the Company makes. Factors that might cause such differences include, but are not limited to: the possibility that the expected benefits from the IFC investment will not be realized; disruption from the investment making it more difficult to maintain business and operational activities; and other factors, many of which are beyond the Company’s control; and other important factors included in the Company’s reports filed with the Securities and Exchange Commission, particularly in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015, as such Risk Factors may be updated from time to time in subsequent reports. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Dhruv Chopra
Head of Investor Relations
Phone: +1-917-767-6722
Email: dchopra@net1.com
(CLRB) Receives Positive NASDAQ Listing Determination
MADISON, Wis., April 07, 2016 — Cellectar Biosciences, Inc. (NASDAQ:CLRB) (“Cellectar” or the “company”), an oncology-focused biotechnology company, announced today that on April 6, 2016, the NASDAQ Listing Qualifications Panel (the “panel”) issued a determination granting the company’s request for the continued listing of its common stock on the NASDAQ Capital Market (“NASDAQ”).
The company’s continued listing on NASDAQ is subject to, among other things, the company evidencing compliance with the minimum $2.5 million stockholders’ equity requirement by May 16, 2016. Cellectar must also provide the panel with updated information regarding its ability to maintain compliance for a period of one year.
“We are pleased with the panel’s decision to support Cellectar’s continued listing on NASDAQ,” said Jim Caruso, president and CEO of Cellectar Biosciences. “We are confident in our capability to successfully satisfy the required evidence of compliance.”
The company is taking definitive steps to evidence compliance with the terms of the Panel’s decision; however, there can be no assurance that it will be able to do so.
About Cellectar Biosciences, Inc.
Cellectar Biosciences is developing phospholipid drug conjugates (PDCs) designed to provide cancer targeted delivery of diverse oncologic payloads to a broad range of cancers and cancer stem cells. Cellectar’s PDC Delivery Platform is based on the company’s proprietary phospholipid ether analogs. These novel small-molecules have demonstrated highly selective uptake and retention in a broad range of cancers. Cellectar’s PDC pipeline includes product candidates for cancer therapy and cancer diagnostic imaging. The company’s lead therapeutic PDC, CLR 131, utilizes iodine-131, a cytotoxic radioisotope, as its payload. CLR 131 is currently being evaluated under an orphan drug designated Phase 1 study in patients with relapsed or refractory multiple myeloma. The company is also developing PDCs for targeted delivery of chemotherapeutics such as paclitaxel (CLR 1602-PTX), a preclinical stage product candidate, and plans to expand its PDC chemotherapeutic pipeline through both in-house and collaborative R&D efforts. For additional information please visit www.cellectarbiosciences.com.
This news release contains forward-looking statements. You can identify these statements by our use of words such as “may,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” “continue,” “plans,” or their negatives or cognates. These statements are only estimates and predictions and are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to raise additional capital, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and other government regulation, our pharmaceutical collaborators’ ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, product pricing and third-party reimbursement. A complete description of risks and uncertainties related to our business is contained in our periodic reports filed with the Securities and Exchange Commission including our Form 10-K/A for the year ended December 31, 2015. These forward-looking statements are made only as of the date hereof, and we disclaim any obligation to update any such forward-looking statements.
INVESTOR AND MEDIA CONTACT: Jules Abraham JQA Partners 917-885-7378 jabraham@jqapartners.com
(CPHR) Proposes Adding Rosemary A. Crane and Dr. Renee P. Tannenbaum To Board
MISSISSAUGA, ON, April 7, 2016 – Cipher Pharmaceuticals Inc. (NASDAQ:CPHR; TSX:CPH) (“Cipher” or “the Company”) today announced that Rosemary A. (Rose) Crane and Dr. Renee P. Tannenbaum, two pharmaceutical industry leaders, are being proposed for election to Cipher’s Board of Directors at the Company’s Annual and Special Meeting on May 5, 2016.
Ms. Crane has more than 30 years of experience in large global pharmaceutical companies and development-stage companies. She currently serves on the Board of Directors of Teva Pharmaceutical Industries, Ltd. (NASDAQ: TEVA) one of the largest generic pharmaceutical companies in the world. Previously, Ms. Crane served as President and Chief Executive Officer of MELA Sciences, Inc. from 2013 to 2014. Ms. Crane was Head of Commercialization and a partner at Appletree Partners from 2011 to 2013. Previously, she served as President and Chief Executive Officer of Epocrates Inc.; and held several senior executive positions at Johnson & Johnson, including as Group Chairman, OTC & Nutritional Group, Group Chairman, Consumer, Specialty Pharmaceuticals and Nutritionals, and Executive Vice President of Global Marketing for the Pharmaceutical Group. Prior to that, she held various positions at Bristol-Myers Squibb from 1982 to 2002, including as President of U.S. Primary Care and as President of Global Marketing and Consumer Products. Ms. Crane has served as Vice Chairman of the Board of Zealand Pharma A/S since 2015. Ms. Crane received an M.B.A. from Kent State University in 1986 and a B.A. in communications and English from the State University of New York in 1981.
Dr. Tannenbaum has more than 30 years of experience with leading companies in the biopharmaceutical industry. Most recently, she served as Head of Global Customer Excellence at AbbVie, Inc. (NYSE: ABBV) where she was responsible for building commercial capabilities for the organization. Prior to joining AbbVie, Dr. Tannenbaum served as President of Myrtle Potter & Company, LLC, a global life sciences consulting and advisory firm. From 2009 to 2011, she served as Executive Vice President and Chief Commercial Officer at Elan Pharmaceuticals, Inc., where she was responsible for revenue generation for Elan’s marketed products and preparation for the commercialization of the company’s pipeline. Prior to her role at Elan, Dr. Tannenbaum was at Novartis Pharma AG for three years, where she led the Global Commercial Operations organization. Prior to that, she spent nine years at Bristol Myers Squibb and 16 years at Merck and Company in a variety of leadership positions. Dr. Tannenbaum received her Doctor of Pharmacy degree from the Philadelphia College of Pharmacy and Sciences, where she retains an Adjunct Faculty position in the Mayes College of Healthcare Business and Policy, her MBA from Temple University, and her Bachelor of Science degree in Pharmacy from the University of Connecticut. She currently serves on the Board of Directors of Zogenix, Inc. (NASDAQ: ZGNX)
“We’re fortunate to attract two highly accomplished pharmaceutical industry leaders as potential independent directors,” said Gerry McDole, Chair of Cipher’s Board of Directors. “As Cipher continues on its path to building the most customer-centric dermatology company in North America, Renee and Rose would bring proven and relevant industry experience to complement and strengthen our existing Board skill-set.”
About Cipher Pharmaceuticals Inc.
Cipher Pharmaceuticals (NASDAQ:CPHR; TSX:CPH) is a rapidly growing specialty pharmaceutical dermatology company with a diversified portfolio of commercial-stage products with the goal of becoming the most customer-centric dermatology company in North America.
Cipher completed seven transactions in 2015, including the acquisition of Innocutis and its nine branded dermatology products, to build its U.S. commercial presence, expand its Canadian dermatology franchise and broaden its pipeline. Cipher is well-capitalized to drive long-term, sustained earnings growth by leveraging its proven clinical development capabilities and efficient commercial execution. For more information, visit www.cipherpharma.com.
Forward-Looking Statements
Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. The words “may”, “will”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “plan”, “anticipate”, “estimate”, “expect”, “intend”, “forecast”, “objective”, “hope” and “continue” (or the negative thereof), and words and expressions of similar import, are intended to identify forward-looking statements. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include those identified in the Company’s Annual Information Form, Form 40-F and other filings with Canadian and U.S. securities regulatory authorities. These factors include, but are not limited to our ability to enter into in-licensing, development, manufacturing and marketing and distribution agreements with other pharmaceutical companies and keep such agreements in effect; our dependency on three products; integration difficulties and other risks if we acquire or in-license technologies or product candidates; reliance on third parties for the marketing of our products; the product approval process is highly unpredictable; the timing of completion of clinical trials; reliance on third parties to manufacture our products; we may be subject to product liability claims; unexpected product safety or efficacy concerns may arise; generate revenue from a limited number of distribution and supply agreements; the pharmaceutical industry is highly competitive; requirements for additional capital to fund future operations; dependence on key managerial personnel and external collaborators; no assurance that we will receive regulatory approvals in the U.S., Canada or any other jurisdictions; limitations on reimbursement in the healthcare industry; limited reimbursement for products by government authorities and third-party payor policies; various laws pertaining to health care fraud and abuse; reliance on the success of strategic investments and partnerships; the publication of negative results of clinical trials; unpredictable development goals and projected time frames; rising insurance costs; ability to enforce covenants not to compete; risks associated with the industry in which it operates; foreign currency risk; the potential violation of intellectual property rights of third parties; our efforts to obtain, protect or enforce our patents and other intellectual property rights related to our products; changes in U.S., Canadian or foreign patent law; litigation in the pharmaceutical industry concerning the manufacture and supply of novel versions of existing drugs that are the subject of conflicting patent rights; inability to protect our trademarks from infringement; shareholders may be further diluted; volatility of our share price; a significant shareholder; we do not currently intend to pay dividends; and our operating results may fluctuate significantly; we may be unsuccessful in evaluating material risks involved in complete and future acquisitions; we may be unable to identify, acquire or integrate acquisition targets successfully; operations in the U.S.; and inability to meet covenants on our credit facilities.. All forward-looking statements presented herein should be considered in conjunction with such filings. Except as required by Canadian or U.S. securities laws, the Company does not undertake to update any forward-looking statements; such statements speak only as of the date made.
(ICPT) FDA Advisory Committee Unanimously Recommends Accelerated Approval of Ocaliva™
PDUFA Date is May 29, 2016
Intercept to host investor conference call today at 5:30 p.m. ET
NEW YORK, April 07, 2016 — Intercept Pharmaceuticals, Inc. (Nasdaq:ICPT), a clinical stage biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat non-viral, progressive liver diseases, today announced that the U.S. Food and Drug Administration (FDA)’s Gastrointestinal Drugs Advisory Committee voted 17 to 0 to recommend accelerated approval of Ocaliva™ (obeticholic acid) for the treatment of patients with primary biliary cirrhosis, recently renamed primary biliary cholangitis (PBC). The target date for the FDA to take action under the Prescription Drug User Fee Act (PDUFA) is May 29, 2016. The FDA is not bound by the Advisory Committee’s guidance, but takes its advice into consideration when reviewing investigational medicines. If approved, Ocaliva would be the first new treatment for PBC in nearly 20 years.
“We’re pleased that the Advisory Committee strongly supported the approval of Ocaliva for people living with PBC. Today’s positive recommendation is an encouraging step for the PBC community,” said Mark Pruzanski, M.D., Chief Executive Officer and President of Intercept. “We’d like to thank the many patients and physicians who took part in the research discussed in today’s meeting, as their participation and dedication has been – and remains – instrumental in evolving the treatment paradigm for PBC.”
Intercept is seeking accelerated approval of Ocaliva for the treatment of PBC in patients with an inadequate response to, or who are unable to tolerate, ursodeoxycholic acid (UDCA), the only approved therapy for this disease. While UDCA has a marked impact on clinical outcomes in PBC, a substantial percentage of UDCA-treated patients have a suboptimal response or are intolerant to treatment, leaving them at significantly increased risk of an adverse outcome.
The Advisory Committee’s recommendation is based on data from the clinical development program for Ocaliva in PBC, including the Phase 3 POISE trial, which assessed the safety and efficacy of Ocaliva in 216 PBC patients who had an inadequate therapeutic response to, or were unable to tolerate, UDCA. Intercept’s New Drug Application (NDA) includes data for 432 PBC patients who have received Ocaliva with an amassed total of 675 patient years of exposure and some patients on therapy for over five years. In accordance with the FDA guidelines for accelerated approval, Intercept is currently enrolling COBALT, a global Phase 4 long-term outcomes trial to confirm the clinical benefit of Ocaliva in people living with PBC.
PBC is a rare chronic liver disease, and if patients are left untreated or have an inadequate response to UDCA therapy, the disease typically progresses to hepatic fibrosis, cirrhosis, liver failure and death unless they receive a liver transplant.
The brand name Ocaliva has been provisionally approved by the FDA and European Medicines Agency, but Ocaliva is an investigational medicine that has not been granted marketing authorization or approval from any regulatory authority.
Conference Call Information
Intercept will host a conference call today, Thursday, April 7, 2016, at 5:30 p.m. ET to discuss the outcome of the Gastrointestinal Drugs Advisory Committee meeting. The live event will be available on the investor page of the Intercept website at http://ir.interceptpharma.com or by calling (855) 232-3919 (toll-free domestic) or (315) 625-6894 (international) five minutes prior to the start time (no passcode required). A replay of the call will be available on the Intercept website approximately two hours after the completion of the call and will be archived for two weeks.
About Primary Biliary Cirrhosis, recently renamed Primary Biliary Cholangitis
PBC is a rare liver disease that primarily results from autoimmune destruction of the bile ducts that transport bile acids out of the liver, resulting in cholestasis. It is primarily a disease of women, afflicting approximately one in 1,000 women over the age of 40. Since 1988, PBC has been the second-leading overall cause of liver transplant in women in the United States, behind hepatitis C. In Europe, the disease accounts for approximately half of liver transplants due to cholestatic diseases and 6% of all liver transplants.
About Intercept
Intercept is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat non-viral, progressive liver diseases. The Company’s lead product candidate, obeticholic acid (OCA), is an agonist of the farnesoid X receptor (FXR). OCA is being developed for a variety of chronic liver diseases, including primary biliary cirrhosis, recently renamed primary biliary cholangitis (PBC), nonalcoholic steatohepatitis (NASH), primary sclerosing cholangitis (PSC) and biliary atresia. The FDA has granted OCA breakthrough therapy designation for the treatment of NASH with liver fibrosis and granted OCA fast track designation for the treatment of patients with PBC. OCA has also received orphan drug designation in both the United States and Europe for the treatment of PBC and PSC. Intercept owns worldwide rights to OCA outside of Japan, China and Korea, where it has out-licensed the product candidate to Sumitomo Dainippon Pharma. Intercept’s pipeline of product candidates includes other novel bile acid analogs such as INT-767, which is in clinical development. For more information about Intercept, please visit the Company’s website at: www.interceptpharma.com.
Safe Harbor Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the anticipated approval and launch of OCA in PBC and the timelines related thereto, the clinical relevance and utility of the endpoints used in the Phase 3 POISE trial, the anticipated prevalence of PBC, the continued development of OCA and Intercept’s other product candidates, and our strategic directives under the caption “About Intercept.” These “forward-looking statements” are based on management’s current expectations of future events and are subject to a number of important risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the initiation, cost, timing, progress and results of our development activities, preclinical studies and clinical trials; the timing of and our ability to obtain and maintain regulatory approval of OCA, INT-767 and any other product candidates we may develop, particularly the possibility that regulatory authorities may require clinical outcomes data (and not just results based on achievement of a surrogate endpoint) as a condition to any marketing approval for OCA, and any related restrictions, limitations, and/or warnings in the label of any approved product candidates; our plans to research, develop and commercialize our product candidates; our ability to obtain and maintain intellectual property protection for its product candidates; our ability to successfully commercialize our product candidates; the size and growth of the markets for our product candidates and our ability to serve those markets; the rate and degree of market acceptance of any future products, which may be affected by the reimbursement that our products receive from payors; the success of competing drugs that are or become available; regulatory developments in the United States and other countries; the performance of third-party suppliers and manufacturers; our collaborators’ election to pursue research, development and commercialization activities; our ability to attract collaborators with development, regulatory and commercialization expertise; our need for and ability to obtain additional financing; our estimates regarding expenses, future revenues and capital requirements and the accuracy thereof; our ability to retain key scientific or management personnel; and other factors discussed under the heading “Risk Factors” contained in our annual report on Form 10-K for the year ended December 31, 2015 filed on February 29, 2016 as well as any updates to these risk factors filed from time to time in our other filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Intercept undertakes no duty to update this information unless required by law.
Contact For more information about Intercept Pharmaceuticals, please contact: Mark Vignola +1-646-747-1000 investors@interceptpharma.com Christopher Frates +1-646-757-2371 media@interceptpharma.com
(SLI) Handy & Harman Ltd. Enters into Definitive Agreement to Acquire
Handy & Harman Ltd. (NASDAQ:HNH) (“HNH”), a diversified global industrial company, and SL Industries, Inc. (NYSE MKT:SLI) (the “Company” or “SLI”), a leading manufacturer of high-performance power solutions, announced today that they have entered into a definitive merger agreement pursuant to which HNH will acquire SLI.
Under the terms of the merger agreement, which has been unanimously approved by a special committee of the Board of Directors of SLI consisting of independent directors (the “Special Committee”), as well as the Boards of Directors of each of HNH and SLI, HNH, through a wholly owned subsidiary, will commence a tender offer to purchase up to all of the outstanding shares of SLI common stock at a purchase price of $40.00 per share in cash. The offer price represents a premium of 18.7% over the closing price of the SLI common stock on April 6, 2016, the last trading day prior to today’s announcement, and a premium of 38.2% over the closing price on February 8, 2016, the last full trading day prior to the announcement of HNH’s proposal to acquire SLI in an all-cash transaction.
Consummation of the offer is subject to certain conditions, including the tender of a number of shares that constitutes at least (1) a majority of SLI’s outstanding shares and (2) 60% of SLI’s outstanding shares not owned by HNH or any of its affiliates, as well as other customary conditions. The transaction is not subject to any financing contingencies. DGT Holdings Corp., an affiliate of HNH which owns approximately 25.1% of the outstanding shares of SLI common stock, has agreed to tender those shares in the offer.
Warren Lichtenstein, Chairman of HNH, said, “We believe this transaction exemplifies our strategy of profitably growing and building upon our core business units both internally and through strategic acquisitions. Affiliates of HNH first purchased shares in SLI almost 25 years ago when the stock was selling for around $3.50 per share. SLI is a company we know well and we expect it will be a great addition to the HNH / Steel family of businesses.”
William T. Fejes, Jr, President & CEO of SLI, stated, “Over the past several years, the SLI employees have done a fantastic job servicing our customers and improving financial results thereby significantly increasing shareholder value. We look forward to this new chapter in SLI’s history and continuing to contribute strong value to our customers and to our new shareholders.”
Olshan Frome Wolosky LLP served as legal counsel to HNH. Houlihan Lokey Capital Inc. acted as financial advisor to the Special Committee, and Gardere Wynne Sewell LLP served as legal counsel to the Special Committee.
Important Information
The tender offer described in this press release has not yet commenced. This press release is for informational purposes only and it is neither an offer to purchase nor a solicitation of an offer to sell shares of SLI’s common stock. At the time the tender offer is commenced, HNH will file a Tender Offer Statement on Schedule TO, containing an offer to purchase, a form of letter of transmittal and other related tender offer documents with the United States Securities and Exchange Commission (the “SEC”), and SLI will file a Solicitation/Recommendation Statement on Schedule 14D-9 and a Schedule 13E-3 Transaction Statement relating to such tender offer with the SEC. SLI’s stockholders are strongly advised to read these tender offer materials carefully and in their entirety when they become available, as they may be amended from time to time, because they will contain important information about such tender offer that SLI’s stockholders should consider prior to making any decisions with respect to such tender offer. Once filed, SLI’s stockholders will be able to obtain a free copy of these documents at the website maintained by the SEC at www.sec.gov.
Forward-Looking Statements
Statements in this press release regarding the proposed transaction between HNH and SLI, the expected timetable for completing the transaction, future financial and operating results, benefits of the transaction, future opportunities for HNH’s and SLI’s businesses and any other statements by management of HNH and SLI concerning future expectations, beliefs, goals, plans or prospects constitute forward-looking statements. Generally, forward-looking statements include expressed expectations, estimates and projections of future events and financial performance and the assumptions on which these expressed expectations, estimates and projections are based. Statements that are not historical facts, including statements about the beliefs and expectations of the parties and their management, are forward-looking statements. All forward-looking statements are inherently uncertain as they are based on various expectations and assumptions about future events, and they are subject to known and unknown risks and uncertainties and other factors that can cause actual events and results to differ materially from historical results and those projected. Risks and uncertainties include the satisfaction of closing conditions for the transaction; the possibility that the transaction will not be completed, or if completed, not completed on a timely basis; the ability of HNH to successfully integrate SLI’s business; and the risk that the expected benefits of the transaction may not be realized or maintained.
Neither HNH nor SLI can give any assurance that any of the transactions contemplated by the merger agreement will be completed or that the conditions to the tender offer will be satisfied. A further list and description of additional business risks, uncertainties and other factors can be found in HNH’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015, SLI’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015, as well as other filings by HNH and SLI with the SEC. Copies of these filings, as well as subsequent filings, are available online at www.sec.gov. Many of the factors that will determine the outcome of the transaction are beyond HNH’s or SLI’s ability to control or predict. Neither HNH nor SLI undertakes to update any forward-looking statements as a result of new information or future events or developments.
About Handy & Harman Ltd.
Handy & Harman Ltd. is a diversified manufacturer of engineered niche industrial products with leading market positions in many of the markets it serves. Through its wholly-owned operating subsidiaries, HNH focuses on high margin products and innovative technology and serves customers across a wide range of end markets. HNH’s diverse product offerings are marketed throughout the United States and internationally.
HNH’s companies are organized into five businesses: Joining Materials, Tubing, Building Materials, Performance Materials, and Kasco.
HNH sells its products and services through direct sales forces, distributors, and manufacturer’s representatives. HNH serves a diverse customer base, including the construction, electrical, electronics, transportation, utility, medical, oil and gas exploration, aerospace and defense, and food industries.
HNH’s business strategy is to enhance the growth and profitability of the HNH business units and to build upon their strengths through internal growth, the Steel Business System and strategic acquisitions. Management expects HNH to continue to focus on high margin products and innovative technology. Management has evaluated and will continue to evaluate, from time to time, potential strategic and opportunistic acquisition opportunities, as well as the potential sale of certain businesses and assets.
HNH is based in White Plains, N.Y., and its common stock is listed on the NASDAQ Capital Market under the symbol HNH. Website: www.handyharman.com
About SL Industries
SL Industries, Inc. designs, manufactures and markets power electronics, motion control, power protection, power quality electromagnetic equipment, and custom gears and gearboxes that are used in a variety of medical, commercial and military aerospace, computer, datacom, industrial, architectural and entertainment lighting, and telecom applications. For more information about SL Industries, Inc. and its products, please visit the Company’s web site at www.slindustries.com.
Handy & Harman Ltd.
James F. McCabe, Jr., 212-520-2300
Senior Vice President and Chief Financial Officer
jmccabe@steelpartners.com
or
SL Industries, Inc.
Louis J. Belardi, 856-727-1500 x 5525
Chief Financial Officer
louis.belardi@slindustries.com
(LEI) Secures $15 Million Financing To Fund Growth Initiative
HOUSTON, April 7, 2016 — Lucas Energy, Inc. (NYSE MKT: LEI) (“Lucas” or the “Company”) announced today that it has entered into a series of agreements with an institutional investor whereby it will receive $10.0 million of equity capital, subject to meeting certain conditions. The initial investment is structured as a Redeemable Convertible Subordinated Debenture which will automatically convert into common stock at an initial conversion price of $3.25 per share upon certain of the conditions described below being met. At closing, this placement will provide $500,000 of funding immediately, and the balance of $4.5 million through the exercise of a Warrant upon (i) the closing of the announced transaction with Segundo, (ii) shareholder approval to issue the common shares for NYSE MKT purposes, (iii) registration of the underlying common stock and (iv) a dollar volume trading requirement of $5 million in the previous 20 trading days. Lucas also agreed to issue an additional $5.0 million of a newly designated Series C Redeemable Convertible Preferred Stock of which $500,000 will be funded upon closing of the announced Segundo Transaction, and the balance upon achieving certain milestones. The Series C Redeemable Convertible Preferred Stock will also be convertible into common stock at an initial conversion price of $3.25 per share.
Under the terms of the agreements with the investor, Lucas is to receive $10 million under current commitments while an additional $5 million is to be made available through the exercise of an additional Warrant upon mutual consent. See the Form 8-K filed on April 7, 2016 for the conditions and other material terms relating to this transaction and associated agreements.
“This placement demonstrates confidence in the future of Lucas Energy as we progress towards closing on the Segundo Resources asset purchase,” said Anthony C. Schnur, Chief Executive Officer of Lucas Energy who continued, “Having received this commitment establishes some certainty that we can initiate growth and development activities upon closing the acquisition.”
On December 31, 2015 the Company announced the signing of a purchase agreement to acquire, from 21 different entities and individuals, working interests in producing properties and undeveloped acreage. The assets being acquired include varied interests in two largely contiguous acreage blocks in the liquids-rich Mid-Continent region. The properties currently produce in excess of 1,200 net barrels of oil equivalent per day (BOE/d). At the closing of the transaction, Lucas will rebrand and change its name to Camber Energy, Inc.
ROTH Capital Partners acted as exclusive placement agent on this Transaction.
More information regarding the agreements referenced herein, including the terms and conditions have been disclosed in the Current Report on Form 8- K filed by Lucas today with the Securities and Exchange Commission.
About Lucas Energy, Inc.
Lucas Energy (NYSE MKT: LEI) is engaged in the production of crude oil and natural gas currently in the Austin Chalk and Eagle Ford formations in South Texas. Based in Houston, Lucas’s management team is committed to building a platform for growth and the development of its five million barrels of proved Eagle Ford and other oil reserves while continuing its focus on operating efficiencies and cost control.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, beliefs or forecasts of future events and performance. A statement identified by the use of forward-looking words including “may,” “expects,” “projects,” “anticipates,” “plans,” “believes,” “estimate,” “should,” “progress,” and certain of the other foregoing statements may be deemed forward-looking statements. Although Lucas believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. These risks and uncertainties include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the asset purchase agreement; the inability to complete the asset purchase transaction due to the failure to satisfy any of the conditions to complete the asset purchase transaction; or the occurrence of any event, change or other circumstances that would cause us not to meet the conditions required to receive the full amount of the proceeds from the $15 million financing. These also include risks inherent in natural gas and oil drilling and production activities, including risks of fire, explosion, blowouts, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; delays in receipt of drilling permits; risks with respect to natural gas and oil prices, a material decline which could cause Lucas to delay or suspend planned drilling operations or reduce production levels; risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in natural gas and oil prices; risks relating to unexpected adverse developments in the status of properties; risks relating to the absence or delay in receipt of government approvals or fourth party consents; and other risks described in Lucas’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the SEC, available at the SEC’s website at www.sec.gov. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company’s SEC filings are available at http://www.sec.gov.
Important Information
The securities described above have not been registered under the Securities Act of 1933, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. In connection with the financing and planned acquisition described above, Lucas currently intends to file resale registration statements and a proxy statement with the Securities and Exchange Commission (the “SEC”). This communication is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other document Lucas may file with the SEC in connection with the proposed transactions. Prospective investors are urged to read the proxy statement, when filed as it will contain important information. Any definitive proxy statement(s) (if and when available) will be mailed to stockholders of Lucas. Prospective investors may obtain free copies of the proxy statement, when filed, as well as other filings containing information about Lucas, without charge, at the SEC’s website (www.sec.gov). Copies of Lucas’s SEC filings may also be obtained from Lucas without charge at Lucas’s website (www.lucasenergy.com) or by directing a request to Lucas at (713) 528-1881. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
INVESTORS SHOULD READ THE PROXY STATEMENT AND OTHER DOCUMENTS TO BE FILED WITH THE SEC CAREFULLY BEFORE MAKING A DECISION CONCERNING THE TRANSACTION.
Participants in Solicitation
Lucas and its directors and executive officers and other members of management and employees are potential participants in the solicitation of proxies in respect of the proposed transaction. Information regarding Lucas’s directors and executive officers is available in Lucas’s Annual Report on Form 10-K for the year ended March 31, 2015, filed with the SEC on July 14, 2015 and Lucas’s definitive proxy statement on Schedule 14A, filed with the SEC on February 18, 2016. Additional information regarding the interests of such potential participants will be included in the registration statement and proxy statement to be filed with the SEC by Lucas in connection with the proposed transaction and in other relevant documents filed by Lucas with the SEC. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available.
Contact:
Carol Coale / Ken Dennard
Dennard Lascar Associates, LLC
(713) 529-6600
ccoale@dennardlascar.com
ken@dennardlascar.com
http://www.dennardlascar.com
(EXPI) Announces Name Change to eXp World Holdings, Inc.
BELLINGHAM, WA–(April 07, 2016) – eXp Realty International Corporation (OTCQB: EXPI) announced today that it has changed its corporate name to eXp World Holdings, Inc. in order to reflect its broader commitment to utilizing cloud-based technologies in order to create opportunities for the most entrepreneurial professionals across a number of industries beyond real estate brokerage.
“Our achievements within our real estate brokerage division have demonstrated to us in a compelling way that entrepreneurial professionals are willing and eager to embrace the cloud to transform business, ownership, and collaboration and to avail themselves of new opportunities to earn, learn and grow that otherwise wouldn’t be feasible,” said Company Founder and CEO, Glenn Sanford. “This name change will allow us to continue to focus on the tremendous growth and achievements happening within our real estate brokerage division while delivering innovation and opportunity to other service industries without causing confusion among the investing public,” Sanford said.
The Company’s common stock trades under the symbol “EXPI” and the name change will have no impact on the Company’s trading symbol.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage™ as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
eXp World Holdings, Inc. also owns 90.5% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, New Mexico and Texas.
The corporate name change to “eXp World Holdings, Inc.” has been approved by our Board and stockholders but is not yet effective, pending the mailing of a definitive information statement to our stockholders in accordance with applicable rules and a 20-day notice period thereafter.
As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.
For more information you can follow eXp World Holdings, Inc. on Twitter, LinkedIn, Facebook, YouTube, or visit investors.exprealty.com or www.exprealty.com.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the Company’s expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.
Investor Relations Contact Information:
Glenn Sanford
Chairman & CEO
eXp World Holdings, Inc.
glenn@expworldholdings.com
360-389-2426
Trade and Media Contact Information:
Jason Gesing
President
eXp Realty World Holdings, Inc.
jason@expworldholdings.com
617-970-8518
(VSR) Awarded $47.8 Million Contract Extension
SPRINGFIELD, Va., April 6, 2016 — Versar, Inc. (NYSE MKT: VSR) announced today that it has been awarded a $47.8 million contract extension for its ongoing efforts to support the Federal Aviation Administration’s (FAA) Security System Design and Integration (SSDI) Program. The contract extension is for one two-year base period and two six-month option periods. This contract modification was awarded under the FAA’s contract with Johnson Controls Security Systems, which Versar purchased from Johnson Controls, Inc. in late 2015 and is now known as Versar Security Systems (VSS). Under this modification, VSS will continue to provide physical security design and implementation services and support the migration of physical security systems onto the FAA’s IT Enterprise.
Tony Otten, CEO of Versar said, “We are very pleased to continue our quality support of the Federal Aviation Administration, a long term client of VSS. This contract extension will enable VSS to continue to provide Security System Design and Integration services to FAA facilities throughout the United States. We’re confident that our capabilities are aligned with the requirements of the contract.”
VERSAR, INC., headquartered in Springfield, Virginia, is a publicly-traded global project management company providing sustainable value oriented solutions to government and commercial clients in the construction management, environmental services, and professional services market areas.
VERSAR operates the following websites: www.versar.com and www.versarpps.com.
This news release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended June 26, 2015, as updated from time to time in the Company’s periodic filings. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.
Contact: | Karin Weber | John Nesbett or Jennifer Belodeau |
M&A, Investor Relations Manager | Institutional Marketing Services (IMS) | |
Versar, Inc. | (203) 972-9200 | |
(703) 642-6706 | jnesbett@institutionalms.com | |
kweber@versar.com |
(ITCI) Presents Additional ITI-007 Data at the 5th Biennial SIRS Conference
NEW YORK, April 06, 2016 — Intra-Cellular Therapies, Inc. (NASDAQ:ITCI), a biopharmaceutical company focused on the development of therapeutics for central nervous system (CNS) disorders, today announced it delivered an oral presentation and presented several posters featuring data on ITI-007, the Company’s lead drug candidate at the 5th Biennial Schizophrenia International Research Society (SIRS) Conference being held in Florence, Italy.
The oral presentation and two poster presentations featured additional efficacy and safety data from ITI-007-301, the Company’s recently completed Phase 3 clinical trial in patients with schizophrenia. An additional poster presentation featured data from the ITI-007 Positron Emission Tomography (PET) study in patients with schizophrenia. Top-line data from both trials were announced in September 2015 and subsequently presented at the 54th annual meeting of the American College of Neuropsychopharmacology (ACNP) in December 2015.
Poster #S66 entitled “ITI-007 Exhibits Unique Pharmacology: Combined Results from Positron Emission Tomography (PET) Studies in Healthy Volunteers and Patients with Schizophrenia,” was presented on Sunday, April 3rd. This PET study highlights ITI-007’s unique pharmacological profile via serotonergic, dopaminergic, and glutamatergic pathways. ITI-007 was safe and well-tolerated and demonstrated dose-related occupancy of human brain dopamine D2 receptors, 5-HT2A receptors, and serotonin transporters. At a dose of 60 mg, ITI-007 demonstrated relatively low, about 40% mean peak striatal D2 receptor occupancy in patients with schizophrenia at plasma steady state. Taken into context with data from other clinical trials, ITI-007 60 mg was effective in reducing psychosis in patients with schizophrenia at relatively low striatal D2 receptor occupancy, lower than the occupancy range required by most other antipsychotic drugs. This mechanism, along with ITI-007’s potent interactions at 5-HT2A receptors, serotonin transporters and D1 receptors, likely contributes to the efficacy of ITI-007 with improved psychosocial function and favorable motoric tolerability representing a potentially novel approach to the treatment of schizophrenia and other neuropsychiatric disorders. Additional data regarding receptor occupancy within specific brain regions such as the ventral striatum were presented.
Poster #M67 entitled “Positive Phase 3 Clinical Trial of ITI-007 for the Treatment of Schizophrenia: Secondary Endpoints and Subgroup Analyses from a Randomized, Double-Blind, Placebo-Controlled Trial,” was presented on Monday, April 4th. In this trial, once-daily ITI-007 60 mg met the primary endpoint and demonstrated efficacy with statistically significant superiority over placebo at Day 28 as measured by the Positive and Negative Syndrome Scale (PANSS) total score (p=0.022). Moreover, ITI-007 60 mg showed significant efficacy as early as week 1 on both the PANSS total score and PANSS Positive Symptom subscale score, which was maintained at every time point throughout the entire study. ITI-007 60 mg also met the key secondary endpoint of statistically significant improvement on the Clinical Global Impression of Severity of Illness (CGI-S) (p=0.003). Both doses (ITI-007 40 mg and 60 mg) improved global severity of illness, positive symptoms and prosocial behavior.
A high treatment completion rate was observed with ITI-007 (87% of patients completed treatment on ITI-007 60 mg, 82% completed on ITI-007 40 mg, and 75% completed on placebo). Patients randomized to ITI-007 60 mg demonstrated a statistically significant longer time to treatment discontinuation due to any reason compared to placebo (p=0.006) and a statistically significant longer time to treatment discontinuation due to lack of efficacy (p=0.01). Baseline characteristics of the studied patient population indicated a mean of 17 years since first diagnosis and markedly ill at baseline with a mean baseline PANSS total score of 89.8 and a mean baseline CGI-S score of 4.8.
Poster #T66 entitled “Positive Phase 3 Clinical Trial of ITI-007 for the Treatment of Schizophrenia: Safety Results from a Randomized, Double-Blind, Placebo-Controlled Trial,” was presented on Tuesday, April 5th. ITI-007 given once daily in the morning was well-tolerated with no dose titration and demonstrated a safety profile that did not differ from placebo in patients with acutely exacerbated schizophrenia. The number of patients who discontinued treatment in this trial due to an adverse event was low and the time to treatment discontinuation due to an adverse event was not statistically significantly different from placebo for either dose of ITI-007. Patients randomized in this trial included 77.1% males with a mean age of 42.4 years. Administered orally once daily in the morning, the only treatment-emergent adverse event considered at least possibly related to ITI-007 occurring in ≥5% of patients and at least twice the rate of placebo were somnolence, sedation and fatigue, all predominantly mild. ITI-007 showed a motoric profile similar to placebo according to adverse event reports or when objectively measured by the Simpson Angus Scale, the Barnes Akathisia Rating Scale, and the Abnormal Involuntary Movement Scale. There was no clinically meaningful increase in prolactin, rather ITI-007 (60 mg) significantly decreased prolactin (p=0.05), consistent with its mechanism of action as a dopamine D2 receptor partial agonist. ITI-007 also showed a metabolic profile similar to placebo.
The oral presentation at SIRS entitled “Positive Phase 3 Clinical Trial of ITI-007 for the Treatment of Schizophrenia: Efficacy Results from a Randomized, Double-Blind, Placebo-Controlled Trial,” was presented on Tuesday, April 5th and included an overview of the data presented in the posters.
“These data provide additional insights into the positive efficacy, safety and tolerability results seen in our ITI-007 studies in patients with schizophrenia, suggesting there is a broad beneficial effect with ITI-007 in schizophrenia and potentially across multiple indications,” said Dr. Sharon Mates, Chairman and CEO of Intra-Cellular Therapies. “We believe, if approved, ITI-007 may provide an advancement in the treatment of schizophrenia by offering patients an effective therapy and the possibility of achieving long-term benefits by staying on treatment.”
About ITI-007
ITI-007 is our lead drug development candidate with mechanisms of action that, we believe, have the potential to yield a first-in-class therapy for multiple therapeutic indications. In our pre-clinical and clinical trials to date, ITI-007 combines potent serotonin 5-HT2A receptor antagonism, dopamine receptor phosphoprotein modulation (DPPM), glutamatergic modulation, and serotonin reuptake inhibition into a single drug candidate for the treatment of acute and residual schizophrenia, as well as for the treatment of bipolar disorder, including bipolar depression. At dopamine D2 receptors, ITI-007 has been demonstrated to have dual properties and to act as both a post-synaptic antagonist and a pre-synaptic partial agonist. ITI-007 has also been demonstrated to stimulate phosphorylation of glutamatergic NMDA GluN2B receptors in a mesolimbic specific manner. We believe that this regional selectivity in brain areas thought to mediate the efficacy of antipsychotic drugs, together with serotonergic, glutamatergic, and dopaminergic interactions, may result in efficacy for a broad array of symptoms associated with schizophrenia and bipolar disorder with improved psychosocial function. The serotonin reuptake inhibition potentially allows for antidepressant activity in the treatment of schizoaffective disorder, co-morbid depression, and/or as a stand-alone treatment for major depressive disorder. We believe ITI-007 may also be useful for the treatment of other psychiatric and neurodegenerative disorders, particularly behavioral disturbances associated with dementia, autism, and other CNS diseases.
About Schizophrenia
Schizophrenia is a disabling and chronic mental illness affecting over 1% of the world’s population. Schizophrenia is characterized by multiple symptoms during an acute phase of the disorder that can include so-called “positive” symptoms, such as hearing voices, disorganized thinking, grandiose beliefs and suspiciousness or paranoia. These symptoms can be accompanied by additional, harder-to-treat symptoms, such as social withdrawal and blunted emotional response and expression, collectively referred to as “negative” symptoms, difficulty concentrating or cognitive impairment, depression, and insomnia. Such residual symptoms often persist even after the acute positive symptoms subside, and contribute substantially to the social and employment disability associated with schizophrenia. Current antipsychotic medications provide some relief for the symptoms associated with the acute phase of the disorder, but they do not effectively treat the residual phase symptoms and psychosocial impairment associated with chronic schizophrenia. Currently available medications used to treat acute schizophrenia are limited in their use due to side effects that can include movement disorders, weight gain, metabolic disturbances, and cardiovascular disorders. There is an unmet medical need for new therapies that have improved side effect and efficacy profiles.
About Intra-Cellular Therapies
Intra-Cellular Therapies is developing novel drugs for the treatment of neuropsychiatric and neurodegenerative diseases and diseases of the elderly, including Parkinson’s and Alzheimer’s disease. The Company is developing its lead drug candidate, ITI-007, for the treatment of schizophrenia, bipolar disorder, behavioral disturbances in dementia, depression and other neuropsychiatric and neurological disorders. ITI-007, a first-in-class molecule, is in Phase 3 clinical development for the treatment of schizophrenia and bipolar depression. The Company is also utilizing its phosphodiesterase platform and other proprietary chemistry platforms to develop drugs for the treatment of CNS and other disorders.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, our clinical and non-clinical development plans; the progress, timing and results of our clinical trials; the safety and efficacy of our product development candidates; our beliefs about the potential uses and benefits of ITI-007; and our research and development efforts and plans under the caption “About Intra-Cellular Therapies.” All such forward-looking statements are based on management’s present expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such statements. These risks and uncertainties include but are not limited to the following: our current and planned clinical trials, other studies for ITI-007, and our other product candidates may not be successful or may take longer and be more costly than anticipated; product candidates that appeared promising in earlier research and clinical trials may not demonstrate safety and/or efficacy in larger-scale or later clinical trials; our reliance on collaborative partners and other third parties for development of our product candidates; and the other risk factors detailed in our public filings with the Securities and Exchange Commission. All statements contained in this press release are made only as of the date of this press release, and we do not intend to update this information unless required by law.
Contact: Juan Sanchez, M.D. Vice President Corporate Communications and Investor Relations of Intra-Cellular Therapies, Inc. Phone: 646-440-9333 Burns McClellan, Inc. Lisa Burns Justin Jackson (Media) jjackson@burnsmc.com 212-213-0006
(SRNE) to Present at the Jefferies Immuno-Oncology Summit
SAN DIEGO, April 6, 2016 — Sorrento Therapeutics, Inc. (NASDAQ: SRNE; Sorrento), a clinical-stage oncology company developing new treatments for cancer and associated pain, announced today that Gunnar F. Kaufmann, Ph.D., Senior Vice President, Immunotherapy, & Head of Research and Global Partnerships, will present at the Jefferies Immuno-Oncology Summit on Thursday, April 7, 2016 from 7:55 am to 8:20 am EDT. The conference will take place at the Boston Harbor Hotel in Boston, MA.
About Sorrento Therapeutics, Inc.
Sorrento is an antibody-centric, clinical stage biopharmaceutical company developing new treatments for cancer, inflammation and autoimmune diseases. Sorrento’s lead products are multiple late-stage biosimilar and biobetter antibodies, as well as clinical CAR-T therapies targeting solid tumors.
Forward-Looking Statements
This press release and any statements made for and during any presentation or conference contain forward-looking statements related to Sorrento Therapeutics, Inc., and its subsidiaries under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about Sorrento’s and its subsidiaries’ prospects, Sorrento’s expectations for adoptive cellular immunotherapies and Sorrento’s collaborations; Sorrento’s advances made in developing RTX, biosimilars/biobetters, cellular therapies, such as CAR-T, CAR.NK and CAR.TNK, cell-penetrant antibodies (LA Cell technology) as well as antibody immunotherapies using its proprietary G-MAB fully human antibody technology, if any; and other matters that are described in Sorrento’s Annual Report on Form 10-K for the year ended December 31, 2015, and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and we undertake no obligation to update any forward-looking statement in this press release except as required by law.
Sorrento® and the Sorrento logo are registered trademarks of Sorrento Therapeutics, Inc.
All other trademarks and trade names are the property of their respective owners.
© 2016 Sorrento Therapeutics, Inc. All Rights Reserved.
(ATRA) to Present at the 15th Annual Needham Healthcare Conference
SOUTH SAN FRANCISCO, Calif., April 06, 2016 — Atara Biotherapeutics, Inc. (Nasdaq:ATRA), a biopharmaceutical company developing meaningful therapies for patients with severe and life-threatening diseases that have been underserved by scientific innovation, today announced that Gad Soffer, the Company’s Chief Operating Officer, will present at the 15th Annual Needham Healthcare Conference on Wednesday, April 13, 2016 at 12:50 p.m. ET. The conference will be held at the Westin Grand Central Hotel in New York, NY.
A live webcast of the presentation will be available by visiting the Investors section of the Atara Bio website at www.atarabio.com. An archived replay of the webcast will be available on the Company’s website for 14 days following the presentation.
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. is a biopharmaceutical company developing meaningful therapies for patients with severe and life-threatening diseases that have been underserved by scientific innovation, with an initial focus on immunotherapy and oncology. Atara Bio’s programs include T-cell product candidates and molecularly targeted product candidates. The T-cell product candidates include EBV-CTL, CMV-CTL and WT1-CTL and harness the power of the immune system to recognize and attack cancer cells and cells infected with certain viruses. The molecularly targeted product candidates include STM 434. These product candidates target activin and myostatin, members of the TGF-beta family of proteins, and have demonstrated the potential to have therapeutic benefit in a number of clinical indications.
INVESTOR & MEDIA CONTACT: Investors: Steve Klass 212-213-0006 x331 sklass@burnsmc.com Media: Justin Jackson 212-213-0006 x327 jjackson@burnsmc.com
(UNXL) Awarded Two 2-in-1 Convertible Laptop Programs from a Major U.S. PC Manufacturer
New Orders from Existing Customer
SANTA CLARA, Calif., April 6, 2016 — UniPixel, Inc. (NASDAQ: UNXL), a provider of advanced touch solutions to the touchscreen and flexible electronics markets, today announced that it has been awarded two new 2-in-1 convertible programs from a leading PC manufacturing customer. 2-in-1 convertible computers combine the best features of a laptop and a tablet in one device.
Both programs will utilize UniPixel’s XTouch™ highly responsive touchscreen sensors with its outstanding finger-touch and capacitive stylus performance, and the company’s Diamond Guard hardcoat technology to reduce the overall cost and the weight of the computing devices. Volume production for the two programs is expected to commence during the fourth quarter of 2016 and first quarter of 2017, respectively.
Jeff Hawthorne, president and chief executive officer of UniPixel, said, “We are pleased with the two design wins from this existing customer. Further orders from existing customers are an affirmation that not only does our technology resonate with customers, but our response time and service levels meet their requirements.
“Our XTouch copper metal mesh touch sensor product is increasingly gaining share in the market as an alternative to traditional ITO sensors due to the unique sensor design and significantly lower sheet resistance of our sensors, which allow for superior touch and stylus performance. As 2-in-1 computing devices with advanced stylus capabilities continue to gain market share, UniPixel is well positioned to benefit as the market more fully develops in the coming years.”
Mr. Hawthorne continued, “By adding our Diamond Guard hardcoat, this customer will be able to produce two new devices that are lighter, thinner, and faster with exceptional stylus performance. We believe this is a strong validation of our technologies and is indicative of the increased traction that we are now starting to gain with our highly differentiated products. We are pleased with the progress achieved thus far in 2016.”
About UniPixel
UniPixel, Inc. (NASDAQ: UNXL) develops and markets Performance Engineered Films for the touch screen and flexible electronics markets. The company’s roll-to-roll electronics manufacturing process patterns fine line conductive elements on thin films. The company markets its technologies for touch panel sensor, cover glass replacement, and protective cover film applications under the XTouch™ and Diamond Guard™ brands. For further information, visit www.unipixel.com.
Forward-looking Statements
All statements in this news release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended including the statement that UniPixel’s integrated technologies are expected to provide enhanced yields at a lower cost, thereby expanding UniPixel’s competitiveness in the touch screen market. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Company’s control, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under Item 1A “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2015. UniPixel operates in a highly competitive and rapidly changing environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statements. Readers are also urged to carefully review and consider the other various disclosures in the company’s Annual Report on Form 10-K, quarterly reports on Form 10-Q and Current Reports on Form 8-K.
Trademarks in this release are the property of their respective owners
Contact:
Joe Diaz, Robert Blum, Joe Dorame
Lytham Partners, LLC
602-889-9700
unxl@lythampartners.com
(TKAI) to Present at the 15th Annual Needham Healthcare Conference
Tokai Pharmaceuticals Inc. (NASDAQ:TKAI), a biopharmaceutical company focused on developing and commercializing innovative therapies for prostate cancer and other hormonally driven diseases, today announced that management will present at the 15th Annual Needham Healthcare Conference on Wednesday, April 13, 2016 at 1:40pm ET at The Westin Grand Central in New York City.
A live webcast of the presentation can be accessed under the “Calendar of Events” page within the Investors & Media section of the company’s website at www.tokaipharma.com. A replay of the webcast will be archived on the Tokai website for 90 days following the date of the presentation.
About Tokai Pharmaceuticals
Tokai Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing innovative therapies for prostate cancer and other hormonally driven diseases. The company’s lead drug candidate, galeterone, is an oral small molecule that utilizes the mechanistic pathways of current second-generation anti-androgens, while also introducing a unique third mechanism – androgen receptor degradation. Tokai is developing galeterone for the treatment of patients with metastatic castration-resistant prostate cancer. The company’s ARDA drug discovery program is focused on the identification and evaluation of compounds that are designed to disrupt androgen receptor signaling through enhanced androgen receptor degradation and are targeted to patients with androgen receptor signaling diseases, including prostate cancer. For more information on the company and galeterone, please visit www.tokaipharma.com.
Investors:
Tokai Pharmaceuticals Inc.
Lee Kalowski, 617-225-4305
Chief Financial Officer
lkalowski@tokaipharma.com
or
Argot Partners
David Pitts/Maeve Conneighton, 212-600-1902
david@argotpartners.com
maeve@argotpartners.com
or
Media:
Ten Bridge Communications
Dan Quinn, 781-475-7974
dan@tenbridgecommunications.com
(COYN) Reports Launch of Trust 2 Protect Campaign in New York
DALLAS, April 5, 2016 — COPsync, Inc. (NASDAQ: COYN), which operates the nation’s only law enforcement in-car information sharing and data communication network and the COPsync911™ threat-alert service for schools, government buildings, hospitals and other potentially at-risk facilities, announced the launch of the Trust 2 Protect campaign in New York at the Grand Prospect Hall on April 4, 2016. The campaign is focused on engaging, empowering and promoting concrete solutions that help bridge the gap dividing law enforcement and citizens.
Supporters of the Trust 2 Protect Campaign include Founder and The Brewer Group CEO Jack Brewer, and Trust 2 Protect Partners COPsync CEO Ronald Woessner, and The Blue Alert Foundation Founder/Director Tom Berry. Trust 2 Protect Campaign Endorsers include former NFL running back and Founder of the Two 6 Foundation Clinton Portis, former NFL defensive tackle Tommie Harris, Jr., as well as other celebrity athletes.
COPsync CEO Ron Woessner stated, “I am grateful to Jack Brewer for organizing the Trust 2 Protect Campaign and for bringing much needed public focus to the safety needs of law enforcement. At COPsync, our goal is to protect officers with 21st-century technologies that arm them with information to help keep them safer and help interdict crime and criminals more effectively.”
The Trust 2 Protect campaign continues with an event in New Jersey at The Brownstone House on April 5, 2016. During the events leading up to National Police Week in Washington, D.C., the Trust 2 Protect Campaign will host a third launch on May 10, 2016, at the Washington, D.C. Rayburn House Office Building. Future launch locations will include Texas and Florida. The campaign will also be highlighted at the Brewer Sports Symposium VIII featuring the Sport 4 Development Summit on April 6, 2016, recognizing International Day for Sport for Development and Peace at the United Nations.
Become Involved with Trust 2 Protect
For more information or to bring Trust 2 Protect to your community, contact: trust2protect@thebrewergroup.com.
To make a financial contribution that will help communities obtain officer and community safety technologies like those provided by COPsync, visit www.trust2protect.org. All donations are tax-deductible.
About COPsync, Inc.
COPsync, Inc. (NASDAQ: COYN) is a technology company that improves law enforcement communication in a manner that saves officers’ lives and helps them prevent and respond more quickly to crime. Officers have instant access to actionable, mission-critical data, share information, and communicate in real-time with other officers and agencies, even those hundreds and thousands of miles away. The COPsync Network™ also eliminates manual processes and increases officer productivity by enabling officers to write electronic tickets, accident reports, DUI forms, arrest forms and incident and offense reports. COPsync’s threat-alert system, COPsync911™, enables schools, courts, hospitals, and other potentially at-risk facilities to automatically and silently send emergency alerts directly to local law enforcement officers in their patrol cars during a crisis, thereby speeding first responder response times and saving minutes when seconds count. The Company also sells VidTac®, a law enforcement software-driven in-vehicle video system. Visit www.copsync.com and www.copsync911.com for more information.
Contact:
For COPsync:
Ronald A. Woessner
Chief Executive Officer
972-865-6192
invest@copsync.com
Media:
Fred Sommer
Senior Consultant
Investor Relations
Ascendant Partners, LLC.
732-410-9810
fred@ascendantpartnersllc.com
(CPXX) to Present at 15th Annual Needham Healthcare Conference
EWING, N.J., April 5, 2016 — Celator Pharmaceuticals, Inc. (Nasdaq: CPXX), a pharmaceutical company developing new and more effective therapies to treat cancer, today announced that Scott Jackson, Chief Executive Officer, will present an overview of the company at the 15th Annual Healthcare Conference in New York City, NY on Tuesday, April 12, 2016 at 11:20 a.m. Eastern Time.
A live webcast will be available on the investor section of Celator’s website at www.celatorpharma.com. An archived replay of the webcast will be available on the Company’s website for 30 days after the conference.
About Celator Pharmaceuticals, Inc.
Celator Pharmaceuticals, Inc., with locations in Ewing, N.J., and Vancouver, B.C., is an oncology-focused biopharmaceutical company that is transforming the science of combination therapy, and developing products to improve patient outcomes in cancer. Celator’s proprietary technology platform, CombiPlex®, enables the rational design and rapid evaluation of optimized combinations of anti-cancer drugs, incorporating traditional chemotherapies as well as molecularly targeted agents to deliver enhanced anti-cancer activity. CombiPlex addresses several fundamental shortcomings of conventional combination regimens, as well as the challenges inherent in combination drug development, by identifying the most effective synergistic molar ratio of the drugs being combined in vitro, and fixing this ratio in a nano-scale drug delivery complex to maintain the optimized combination after administration and ensuring exposure of this ratio to the tumor. Celator’s lead product is VYXEOS™ (also known as CPX-351), a nano-scale liposomal formulation of cytarabine:daunorubicin in Phase 3 clinical testing for the treatment of acute myeloid leukemia. We have also conducted clinical development on CPX-1, a nano-scale liposomal formulation of irinotecan:floxuridine studied in colorectal cancer; and have a preclinical stage product candidate, CPX-8, a hydrophobic docetaxel prodrug nanoparticle formulation. More recently, the Company has advanced its CombiPlex platform and broadened its application to include molecularly targeted therapies. For more information, please visit Celator’s website at www.celatorpharma.com. Information on ongoing trials is available at www.clinicaltrials.gov.
Forward-Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Celator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release involve substantial risks and uncertainties that could cause our research and development programs, the efficacy and commercial potential of our drug candidates, and our performance and achievements to differ significantly from those expressed or implied by the forward-looking statements. Celator undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Celator’s Form 10-K for the year ended December 31, 2015, and other filings by the company with the U.S. Securities and Exchange Commission.
CONTACTS:
Media:
Sam Brown, Inc.
Mike Beyer, 312-961-9502
mikebeyer@sambrown.com
Investors:
The Trout Group
Adam Krop, 646-378-2963
akrop@troutgroup.com
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