Archive for April, 2013
Globalscape® (GSB) Partners with Hortonworks to Help Tackle Big Data
Apache™ Hadoop® developer, Hortonworks, is partnering with GlobalSCAPE, Inc. (NYSE MKT: GSB), a leading developer of secure information exchange solutions, to provide file transfer solutions for customers embarking on big data and Hadoop projects.
Hadoop is optimized for storing, processing, and analyzing very large sets of unstructured data often referred to as “big data.” Hortonworks develops, distributes, and supports the only 100% Open Source distribution of Apache Hadoop. The partnership allows Globalscape to provide clients a seamless transfer of data using our award-winning, Enhanced File Transfer TM (EFT™) 2013 and Hortonworks Data Platform (HDP) powered by Apache Hadoop.
“EFT 2013 provides a managed file transfer platform to move big data into Hadoop,” says Bill Buie, EVP of Sales and Marketing at Globalscape. “And what makes EFT 2013 ideal is it is proven technology that can be scaled to not only handle the stresses and demands of transferring big data, but also to execute it efficiently with military-grade security.”
EFT 2013 will enable users of HDP to quickly and securely move files to the Apache Hadoop framework. Because of EFT’s flexibility, it can be implemented with Hortonworks systems. Multiple deployment options ensure that all HDP users can tailor EFT to meet their specific needs.
“Working with Globalscape allows us to provide our customers with new options for secure and reliable data transfers to Hadoop,” said Mitch Ferguson, Vice President of Business Development at Hortonworks. “Globalscape’s experience with big data transfers makes them a valuable resource for customers facing the unique challenges that big data brings.”
About Globalscape
San Antonio, Texas-based GlobalSCAPE, Inc. (NYSE MKT: GSB) ensures the reliability of mission-critical operations by securing sensitive data and intellectual property. Globalscape’s suite of solutions features EFT, the industry-leading enterprise file transfer solution that delivers military-grade security and a customizable platform for achieving best in class control and visibility of data in motion or at rest, across multiple locations. Founded in 1996, Globalscape is a leading enterprise solution provider of secure information exchange software and services to thousands of customers, including global enterprises, governments and small businesses. For more information, visit www.globalscape.com or follow the blog and Twitter updates.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words “would,” “exceed,” “should,” “anticipates,” “believe,” “steady,” “dramatic,” and variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company’s current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company’s Annual Report on Form 10-K for the 2012 calendar year, filed with the Securities and Exchange Commission on March 28, 2013.
Oragenics (OGEN) To Present Oral Care Probiotics Seminar at SupplySide MarketPlace 2013
Oragenics, Inc. (NYSE:MKT: OGEN) today announced that Dr. Martin Handfield, Vice President of R&D for Oragenics, will be presenting a seminar entitled “Oral Care Probiotics Development” on Tuesday, April 30th at 5:00 pm at the SupplySide MarketPlace 2013, taking place from April 30 – May 2 at the Jacob Javits Center in New York, NY. SupplySide MarketPlace 2013 brings together the buyers and sellers that drive the dietary supplement, food, beverage, personal care, cosmetic and animal nutrition marketplaces. The Oragenics seminar is part of a practical short course entitled “Pre- & Probiotics Americas 2013: Pre- & Probiotics – Market, Science, Regulations and Applications” and will focus on describing the fundamental basis of oral probiotics, as well as highlighting the competitive advantage of the Oragenics line of oral care products.
Dr. John N. Bonfiglio, President and CEO, Oragenics, Inc., stated, “Dr Handfield will educate the attendees on the benefits of oral probiotics in maintaining good oral health and balance. He will outline the advantages of the Oragenics proprietary oral probiotic blend – ProBiora3®, which contains three strains of bacteria specifically chosen to work in the oral cavity.”
About Oragenics, Inc.
Oragenics, Inc. is focused on becoming the world leader in novel antibiotics against infectious disease and probiotics for oral health for humans and pets. Oragenics has established an exclusive worldwide channel collaboration for lantibiotics, a novel class of broad spectrum antibiotics, with Intrexon Corporation Inc., a synthetic biology company. The collaboration will allow Oragenics access to Intrexon’s proprietary technologies with the idea of accelerating the development of much needed new antibiotics that will work against resistant strains of bacteria. Oragenics also develops, markets and sells proprietary probiotics specifically designed to enhance oral health for humans and pets, under the brand names Evora and ProBiora in over 13 countries worldwide.
For more information about Oragenics, visit www.oragenics.com. Follow Oragenics on Facebook and Twitter.
Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These forward-looking statements are based on management’s beliefs and assumptions and information currently available. The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project” and similar expressions that do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to our ability to raise additional capital to sustain our operations beyond March 31, 2014 and those set forth in our most recently filed annual report on Form 10-K and quarterly report on Form 10-Q, and other factors detailed from time to time in filings with the U.S. Securities and Exchange Commission. We expressly disclaim any responsibility to update forward-looking statements.
Bacterin Announces Earnings Release and Conference Call Date for 2013 Q1 Results
Bacterin International Holdings, Inc. (NYSE MKT: BONE), a leader in the development of revolutionary bone graft material and coatings for medical applications, today announced that it will release its financial results for the period ended March 31, 2013, on May 9, 2013 at the close of the financial markets.
An accompanying conference call hosted by John Gandolfo, Chief Financial Officer and interim Co-Chief Executive Officer, to discuss results will be held at 10:00 a.m. ET, on Friday, May 10, 2013. Please refer to the information below for conference call dial-in information and webcast registration.
Conference dial-in: | 877-269-7756 | ||
International dial-in: | 201-689-7817 | ||
Conference Call Name: | Bacterin’s First Quarter 2013 Results Call | ||
Webcast Registration: | Click Here |
Following the live call, a replay will be available on the Company’s website, www.bacterin.com, under “Investor Info”.
About Bacterin International Holdings
Bacterin International Holdings, Inc. (NYSE MKT: BONE) develops, manufactures and markets biologics products to domestic and international markets. Bacterin’s proprietary methods optimize the growth factors in human allografts to create the ideal stem cell scaffold to promote bone, subchondral repair and dermal growth. These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain, promotion of bone growth in foot and ankle surgery, promotion of cranial healing following neurosurgery and subchondral repair in knee and other joint surgeries.
Bacterin’s Medical Device division develops, employs, and licenses coatings for various medical device applications. For further information, please visit www.bacterin.com.
Important Cautions Regarding Forward-looking Statements
This news release contains certain disclosures that may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to significant risks and uncertainties. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “continue,” “efforts,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “projects,” “forecasts,” “strategy,” “will,” “goal,” “target,” “prospects,” “potential,” “optimistic,” “confident,” “likely,” “probable” or similar expressions or the negative thereof. Statements of historical fact also may be deemed to be forward-looking statements. We caution that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: the Company’s ability to launch beta and full product releases; the Company’s ability to meet its obligations under existing and anticipated contractual obligations; the Company’s ability to develop, market, sell and distribute desirable applications, products and services and to protect its intellectual property; the ability of the Company’s sales force to achieve expected results; the ability of the Company’s customers to pay and the timeliness of such payments, particularly during recessionary periods; the Company’s ability to obtain financing as and when needed; changes in consumer demands and preferences; the Company’s ability to attract and retain management and employees with appropriate skills and expertise; the impact of changes in market, legal and regulatory conditions and in the applicable business environment, including actions of competitors; and other factors. Additional risk factors are listed in the Company’s Annual Report on Form 10-K under the heading “Risk Factors.” The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.
Transition Therapeutics (TTHI) Announces Results of Clinical Study of Type 2 Diabetes Drug
TORONTO, April 30, 2013 /PRNewswire/ – Transition Therapeutics Inc. (“Transition” or the “Company”) (NASDAQ: TTHI, TSX: TTH) announced the results of a five-week proof of concept clinical study of TT-401 in type 2 diabetic and obese non-diabetic subjects. In the study, TT-401 a once-weekly administered peptide, demonstrated significant improvements in glycemic control and reductions in body weight.
The study enrolled diabetic patients at five dosing levels and non-diabetic obese patients at one dose level. All dosing cohorts received five doses over a five week period. Diabetic patients were on stable doses of metformin. At the end of the treatment period, TT-401-treated patients in the three highest dose groups experienced statistically significant reductions in mean fasting plasma glucose relative to placebo.
Statistically significant mean body weight reduction relative to baseline occurred in the three highest dose groups. A similar reduction in body weight was also observed in the obese non-diabetic cohort.
TT-401 demonstrated an acceptable safety and tolerability profile at all doses evaluated in diabetic and non-diabetic obese subjects. The most common adverse event noted in the study was decreased appetite. Some subjects in the highest three dose groups experienced mild nausea and vomiting, which are consistent with studies of other GLP-1 agonist drug candidates. The pharmacokinetic profile, assessed over the five week study, demonstrated a half-life consistent with once-weekly dosing.
“We are very pleased with the proof of concept data from this study. This new dual agonist that targets GLP-1 and a second metabolic mechanism shows promising effects on weight loss and glycemic control and could provide broader therapeutic benefit to patients with type 2 diabetes. These data support a clear development path forward to a larger Phase 2 efficacy study of TT-401,” said Dr. Aleksandra Pastrak, Vice President, Clinical Development and Medical Officer of Transition.
TT-401 is a dual agonist of the GLP-1 (Glucagon-Like Peptide-1) and glucagon receptors. In March 2010, Transition entered into a licensing and collaboration agreement with Eli Lilly and Company, where Transition acquired the rights to a series of pre-clinical compounds from Lilly, including TT-401 for the treatment of type 2 diabetes.
About Transition
Transition is a biopharmaceutical company, developing novel therapeutics for disease indications with large markets. The Company’s lead CNS drug candidate is ELND005 for the treatment of Alzheimer’s disease and bipolar disorder. Transition’s lead metabolic drug candidate is TT-401 for the treatment of type 2 diabetes and accompanying obesity. The Company’s shares are listed on the NASDAQ under the symbol “TTHI” and the Toronto Stock Exchange under the symbol “TTH”. For additional information about the Company, please visit www.transitiontherapeutics.com.
Notice to Readers: Information contained in our press releases should be considered accurate only as of the date of the release and may be superseded by more recent information we have disclosed in later press releases, filings with the OSC, SEC or otherwise. Except for historical information, this press release may contain forward-looking statements, relating to expectations, plans or prospects for Transition, including conducting clinical trials and potential efficacy of its products. These statements are based upon the current expectations and beliefs of Transition’s management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include factors beyond Transition’s control and the risk factors and other cautionary statements discussed in Transition’s quarterly and annual filings with the Canadian commissions.
Cardium (CXM) Excellagen Presentation at Advanced Wound Care Symposium
SAN DIEGO, April 30, 2013 /PRNewswire/ — Cardium Therapeutics (NYSE MKT: CXM) today announced that the Company will present a poster demonstrating the clinical benefits of Excellagen® in advanced regenerative wound management at The Symposium on Advanced Wound Care and Wound Healing Society (SAWC/WHS) meeting to be held May 1-5, 2013, in Denver, Colorado. The presentation titled “Accelerated Granulation and Healing of Problematic Post-Surgical Wounds with Formulated Collagen Gel 2.6%” was authored by Steven Smith, M.D., Mohs Surgeon, of Wellesley, MA, and will be presented by Lois Chandler, Ph.D., Cardium’s Vice President of Biologics Development. The presentation highlights Excellagen’s capability of promoting rapid granulation and complete healing in three difficult and complex post-surgical wounds, including Mohs surgery and wound dehiscence, and concluded that Excellagen eliminated the need for costly secondary reconstruction and/or skilled nursing care. The poster presentation can be viewed at www.excellagen.com/meetings-and-publications.html.
(Logo: http://photos.prnewswire.com/prnh/20051018/CARDIUMLOGO)
The 2013 Spring SAWC/WHS meeting provides Cardium with the opportunity to showcase its Excellagen advanced wound care product to more than 2,000 attendees, including physicians, podiatrists, nurses, therapists and researchers, who specialize in wound management. Medical professionals and distributors can learn more about Excellagen by visiting Cardium’s representatives at Booth 1013.
About Excellagen
Excellagen is a novel syringe-based, professional-use, pharmaceutically-formulated 2.6% fibrillar Type I bovine collagen gel that functions as an acellular biological modulator to activate the wound healing process and significantly accelerate the growth of granulation tissue. Excellagen’s FDA clearance provides for very broad labeling including partial and full-thickness wounds, pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, tunneled/undermined wounds, surgical wounds (donor sites/graft, post-Mohs surgery, post-laser surgery, podiatric, wound dehiscence), trauma wounds (abrasions, lacerations, second-degree burns and skin tears) and draining wounds. Excellagen is intended for professional use following standard debridement procedures in the presence of blood cells and platelets, which are involved with the release of endogenous growth factors. Excellagen’s unique fibrillar Type I bovine collagen gel formulation is topically applied through easy-to-control, pre-filled, sterile, single-use syringes and is designed for application at only one-week intervals. Already-established standard CPT® procedure reimbursement codes may apply when Excellagen is used with surgical debridement procedures and through the DRG reimbursement system for in-hospital surgical procedures. Cardium is also moving forward with the reimbursement process for Excellagen with the Centers for Medicare & Medicaid Services (CMS) and private insurance providers.
There have been important, positive findings reported by physicians using Excellagen as part of Cardium’s physician sampling, patient outreach and market “seeding” programs. In several case studies, physicians reported a rapid onset of the growth of granulation tissue in a wide array of wounds, including non-healing diabetic foot ulcers (consistent with the results of Cardium’s Matrix clinical study), as well as pressure ulcers, venous ulcers and Mohs surgical wounds. In certain cases, rapid granulation tissue growth and wound closure have been achieved with Excellagen following unsuccessful treatment with other advanced wound care approaches. From a dermatology perspective, a previously unexplored vertical market, remarkable healing responses have been observed following Mohs surgery for patients diagnosed with squamous and basal cell carcinomas, including deep surgical wounds extending to the periosteum (a membrane that lines the outer surface of bones). Additionally, because of the easy-use and platelet activating capacity, physicians have been employing Excellagen in severe non-healing wounds at near-amputation status, in combination with autologous platelet-rich plasma therapy and collagen sheet products. These case studies and positive physician feedback provide additional support of Excellagen’s potential utility as an important new tool to help promote the wound healing process. Excellagen case studies are available at http://www.excellagen.com/surgical-wounds.html.
About Cardium
Cardium is an asset-based health sciences and regenerative medicine company focused on the acquisition and strategic development of innovative products and businesses with the potential to address significant unmet medical needs and having definable pathways to commercialization, partnering or other economic monetizations. Cardium’s current portfolio includes the Tissue Repair Company, Cardium Biologics, and the Company’s newly-acquired To Go Brands® nutraceutical business. The Company’s lead commercial product, Excellagen® topical gel for wound care management, has received FDA clearance for marketing and sale in the United States. Cardium’s lead clinical development product candidate Generx® is a DNA-based angiogenic biologic intended for the treatment of patients with myocardial ischemia due to coronary artery disease. To Go Brands® develops, markets and sells dietary supplements through established regional and national retailers. In addition, consistent with its capital-efficient business model, Cardium continues to actively evaluate new technologies and business opportunities. News from Cardium is located at www.cardiumthx.com.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release are forward looking and reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control and may cause actual results to differ materially from stated expectations. For example, there can be no assurance that awareness of and interest in Excellagen can be effectively enhanced through professional symposia or otherwise; that results or trends observed in a clinical study or follow-on case studies will be reproduced in subsequent studies or in actual use; that product reimbursement will be obtained; that new clinical studies will be successful or will lead to approvals or clearances from health regulatory authorities, or that approvals in one jurisdiction will help to support studies or approvals elsewhere; that we can attract suitable commercialization partners for our products or that such partners will successfully commercialize our products; that our exchange listing compliance can be maintained; that our product or product candidates will not be unfavorably compared to other competitive products that may be regarded as safer, more effective, easier to use or less expensive; that results or trends observed in one clinical study or procedure will be reproduced in subsequent studies or procedures or in actual use; that efforts to broaden commercialization of Excellagen outside of the United States will be successful; that clinical studies and regulatory clearances even if successful will lead to product advancement or partnering; that the FDA or other regulatory clearances or other certifications, or other commercialization efforts will effectively enhance our businesses or their market value; that our products or product candidates will prove to be sufficiently safe and effective after introduction into a broader patient population; that new collaborative partners will be found; that additional product opportunities will be established; or that that third parties on whom we depend will perform as anticipated.
Actual results may also differ substantially from those described in or contemplated by this press release due to risks and uncertainties that exist in our operations and business environment, including, without limitation, risks and uncertainties that are inherent in the development of complex biologics, the conduct of human clinical trials and the introduction of new products, including the timing, costs and outcomes of such trials, our ability to obtain necessary funding, regulatory approvals and expected qualifications, our dependence upon proprietary technology, our history of operating losses and accumulated deficits, our reliance on collaborative relationships and critical personnel, and current and future competition, as well as other risks described from time to time in filings we make with the Securities and Exchange Commission. We undertake no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof.
Copyright 2013 Cardium Therapeutics, Inc. All rights reserved.
For Terms of Use Privacy Policy, please visit www.cardiumthx.com.
Cardium Therapeutics®, Generx®,Cardionovo®, Tissue Repair™, Gene Activated Matrix™, GAM™, Excellagen®, Excellarate™, Osteorate™, MedPodium®, Appexium®, Linée®, Alena®, Cerex®, D-Sorb™, Neo-Energy®, Neo-Carb Bloc®, Neo-Chill™, and Nutra-Apps® are trademarks of Cardium Therapeutics, Inc. or Tissue Repair Company. To Go Brands® is a trademark of To Go Brands, Inc.
Other trademarks belong to their respective owners.
Broadwind Energy (BWEN) Wins $34 Million Tower Order
Broadwind Energy, Inc. (NASDAQ: BWEN) today announced a $34 million order for towers from a U.S. wind turbine manufacturer. Broadwind will produce these towers in its Abilene, Texas facility with delivery scheduled to begin in fourth-quarter 2013 and extend into 2014.
“This order starts to fill the capacity in our Abilene facility into 2014,” said Peter Duprey, Broadwind Energy’s president and CEO. “This provides our tower business with better visibility further into the future. We continue to be pleased with the demand for domestically produced wind towers in the United States.”
About Broadwind Energy
Broadwind Energy (NASDAQ: BWEN) applies decades of deep industrial expertise to innovate integrated solutions for customers in the energy and infrastructure markets. From gears and gearing systems for wind, oil and gas and mining applications, to wind towers, to comprehensive remanufacturing of gearboxes and blades, to operations and maintenance services and industrial weldments, we have solutions for the energy needs of the future. With facilities throughout the U.S., Broadwind Energy’s talented team of 800 employees is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com.
Forward-Looking Statements
This release includes various forward-looking statements related to future, not past, events. Statements in this release that are not historical are forward-looking statements. These statements are based on current expectations and we undertake no obligation to update these statements to reflect events or circumstances occurring after this release. Such statements are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Such risks and uncertainties include but are not limited to: expectations regarding our business, end-markets, relationships with customers and our ability to diversify our customer base; the impact of competition and economic volatility on many of the industries in which we compete; our ability to realize revenue from customer orders and backlog; the impact of regulation on our end-markets, including the wind energy industry in particular; the sufficiency of our liquidity and working-capital; our restructuring plans and the associated cost-savings; our ability to preserve and utilize our tax net operating loss carry-forwards; and other risks and uncertainties described in our filings with the Securities and Exchange Commission.
FX Energy (FXEN) Reports Gas Flow at Tuchola-3K Well; Production Test to Start
SALT LAKE CITY, April 29, 2013 /PRNewswire/ — FX Energy, Inc. (NASDAQ: FXEN) today reported results of a drill stem test (DST) on the Tuchola-3K well in north-central Poland. Gas flowed at a rate of approximately 5 million cubic feet per day with traces of condensate from a dolomite section in the Ca1/Upper Devonian. The Company now will run a 7″ liner to a depth of approximately 2,700 meters and conduct a full production test over the next several days to determine whether to complete the well as a commercial discovery.
“We have not yet determined if the well is commercial,” noted David Pierce, CEO, “but we are cautiously optimistic and therefore will run a liner to allow more thorough testing. We are also reviewing a range of possible follow-on actions, including other potential drilling locations, to appraise the scope and potential of this Ca1/Upper Devonian zone both nearby and right across our Edge concessions. We will have plans ready for a prompt response if the production test is encouraging.”
FX Energy is the operator and owns 100% of the working interest in the Tuchola well and the four Edge concession blocks, which cover 880,000 acres or 3,567 square kilometers.
About FX Energy
FX Energy is an independent oil and gas exploration and production company with production in the US and Poland. The Company’s main exploration and production activity is focused on Poland’s Permian Basin where the gas-bearing Rotliegend sandstone is a direct analog to the Southern Gas Basin offshore England. The Company trades on the NASDAQ Global Select Market under the symbol FXEN. Website www.fxenergy.com.
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements. Forward-looking statements are not guarantees. For example, exploration, drilling, development, construction or other projects or operations may be subject to the successful completion of technical work; environmental, governmental or partner approvals; equipment availability, or other things that are or may be beyond the control of the Company. Operations that are anticipated, planned or scheduled may be changed, delayed, take longer than expected, fail to accomplish intended results, or not take place at all. Actual production over time may be more or less than estimates of reserves, including proved and P50 or other reserve measures.
In carrying out exploration it is necessary to identify and evaluate risks and potential rewards. This identification and evaluation is informed by science but remains inherently uncertain. Subsurface features that appear to be possible traps may not exist at all, may be smaller than interpreted, may not contain hydrocarbons, may not contain the quantity or quality estimated, or may have reservoir conditions that do not allow adequate recovery to render a discovery commercial or profitable. Forward-looking statements about the size, potential or likelihood of discovery with respect to exploration targets are certainly not guarantees of discovery or of the actual presence or recoverability of hydrocarbons, or of the ability to produce in commercial or profitable quantities. Estimates of potential typically do not take into account all the risks of drilling and completion nor do they take into account the fact that hydrocarbon volumes are never 100% recoverable. Such estimates are part of the complex process of trying to measure and evaluate risk and reward in an uncertain industry.
Forward-looking statements are subject to risks and uncertainties outside FX Energy’s control. Actual events or results may differ materially from the forward-looking statements. For a discussion of additional contingencies and uncertainties to which information respecting future events is subject, see FX Energy’s SEC reports or visit FX Energy’s website at www.fxenergy.com.
Professional Diversity Network (IPDN) Announces Share Repurchase Program
Company Will Announce First Quarter Financial Results on May 15
CHICAGO, April 29, 2013 (GLOBE NEWSWIRE) — Professional Diversity Network, Inc. (Nasdaq:IPDN), a developer and operator of online networks dedicated to serving diverse professionals in the United States and providing them with access to employment opportunities, today announced that its Board of Directors has authorized a share repurchase program pursuant to which the Company may repurchase up to $1 million of its outstanding common stock.
The repurchases under the program will be made from time to time over the next 6 months at prevailing market prices in open market or privately negotiated transactions, depending upon market conditions. The manner, timing and amount of any repurchases will be determined by the Company based on an evaluation of market conditions, stock price and other factors and made in compliance with the anti-fraud and anti-manipulation provisions of the Securities Exchange Act of 1934. In any event, no repurchases may be made until after the Company’s trading window opens, which will be several days following the release of the Company’s quarterly earnings.
Under the program, the purchases will be funded from available working capital, and the repurchased shares will be held in treasury. The program does not obligate the Company to acquire any particular amount of common stock, and it may be modified or suspended at any time at its discretion. As of March 28, 2013, the Company had 6,318,227 shares outstanding.
The Company also announced that it will release its results for the first quarter ended March 31, 2013 before the market opens on Wednesday, May 15, 2013, followed by a conference call at 8:30 am ET.
The conference call will be accessible by telephone or through the simultaneous webcast via the internet. Interested investors can access the conference call by dialing (877) 941-0844 or by logging on to the Company’s website at www.prodivnet.com, under the “Investor Relations” heading. The conference call replay will also be archived on the Company’s website.
About Professional Diversity Network
Professional Diversity Network develops and operates online networks dedicated to serving diverse professionals in the United States and providing them with access to employment opportunities. Professional Diversity Network offers employers who value diversity an online platform in which to identify and acquire diverse talent for their hiring needs. Professional Diversity Network owns and operates professional networking communities including: www.iHispano.com for Hispanic Professionals,www.AMightyRiver.com for African American professionals, www.WomensCareerChannel.com for Female Professionals, www.Military2Career.com for Veterans, www.ProAble.com for Professionals with Disabilities, www.OutProNet.com for professionals in the Gay Community, andwww.AsianCareerNetwork.com for Asian professionals.
For more information, visit: www.professionaldiversitynetwork.com
Safe Harbor under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 concerning Professional Diversity Network and the timing, extent and duration of the share repurchase program.. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to Professional Diversity Network, based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements can generally be identified by words such as “may” “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “possible,” “potential,” “predict,” “project” or other similar words, phrases or expressions. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of Professional Diversity Network’s control. Therefore, investors and shareholders should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include Professional Diversity Network’s ability to maintain its business relationships with its key customers; unanticipated changes and competition in the online recruitment market; unanticipated downturns in the economy; Professional Diversity Network’s ability to generate recruitment revenue through direct sales, unexpected technical or marketing difficulties; unexpected claims, charges or litigation; and new laws and governmental regulations. The foregoing list of factors is not exhaustive. Investors and shareholders should carefully consider the foregoing factors and the other risks and uncertainties that affect Professional Diversity Network’s business described in its Annual Report on Form 10-K. The forward-looking statements in this press release speak only as of the date they were made. Professional Diversity Network does not assume any obligation to update these forward-looking statements.
CONTACT: Professional Diversity Network Myrna Newman, CFO 312-614-0931 mnewman@prodivnet.com Investor Relations Michael Polyviou EVC Group 212-850-6020 mpolyviou@evcgroup.com Media Relations Janine McCargo EVC Group 646-688-0425 jmccargo@evcgroup.com
Galectin (GALT) Inhibitors Reverse Liver Cirrhosis in Preclinical Studies
– Galectin Therapeutics and Icahn School of Medicine at Mount Sinai Data Presented at the International Liver Congress 2013 –
NORCROSS, Ga., April 29, 2013 /PRNewswire/ — Galectin Therapeutics (NASDAQ: GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, today released data that was presented on April 27, 2013 at the International Liver Congress in Amsterdam, The Netherlands. The data were generated by the laboratory of Dr. Scott Friedman of the Icahn School of Medicine at Mount Sinai, a world renowned investigator and expert on liver fibrosis. GR-MD-02 and GM-CT-01, drugs that inhibit galectin proteins, were found to reverse the most advanced stage of liver fibrosis, called cirrhosis, in experimental animals given toxin-induced cirrhosis.
“The findings of these experiments show that the anti-galectin drugs had a robust effect on cirrhosis, including reversal of tissue architectural changes in the liver that result from fibrosis as well as reduction in portal hypertension, an important pathophysiological effect of cirrhosis,” said Dr. Friedman, Dean for Therapeutic Discovery and Chief, Division of Liver Diseases at the Icahn School of Medicine at Mount Sinai. “The experimental design of these studies provided a very high hurdle for any drug to show effectiveness, and yet both GR-MD-02 and GM-CT-01 passed the test. These drugs are excellent candidates for evaluation in human cirrhosis.”
“We are gratified that one of the most prominent investigators in the world has shown that our galectin inhibitors were effective in experimental cirrhosis, the most severe form of liver fibrosis, for which there are no currently approved medical therapies,” said Dr. Peter G. Traber, President, Chief Executive Officer and Chief Medical Officer, Galectin Therapeutics. “Along with the multiple studies we have presented on liver fibrosis from fatty liver disease, these findings provide added confidence for the potential of this approach in studies of human liver fibrosis and cirrhosis.”
The data presented at the International Liver Congress which is sponsored by the European Association for the Study of the Liver (EASL) are posted on the Company website at http://bit.ly/14xDpKK. Rats were treated with a liver toxin which produced fibrosis that replaced over 25% of the liver tissue and resulted in architectural changes consistent with cirrhosis. While continuing to treat with the liver toxin, rats were treated with either a placebo or four weekly injections of either GR-MD-02 or GM-CT-01. The livers were reviewed by a highly qualified liver pathologist who was unaware of the treatments that the animals had received. Both drugs significantly reduced the amount of fibrotic tissue, and most importantly, reversed the histological findings of cirrhosis. Additionally there was a reduction in the blood pressure in the blood system supplying the liver (portal pressure) in the treated animals. Cirrhosis and portal hypertension are the primary abnormalities that lead to complications and death in humans with liver fibrosis. Galectin previously announced initiation of a Phase 1 clinical trial of GR-MD-02 in patients with fatty liver disease (NASH, non-alcoholic steatohepatitis) with advanced fibrosis which is expected to begin enrolling patients in May 2013 (http://bit.ly/11wj6hr).
About Galectin Therapeutics
Galectin Therapeutics (NASDAQ: GALT) is developing promising carbohydrate-based therapies for the treatment of fibrotic liver disease and cancer based on the Company’s unique understanding of galectin proteins, key mediators of biologic function. We are leveraging extensive scientific and development expertise as well as established relationships with external sources to achieve cost effective and efficient development. We are pursuing a clear development pathway to clinical enhancement and commercialization for our lead compounds in liver fibrosis and cancer. Additional information is available at www.galectintherapeutics.com.
Forward Looking Statements
This press release contains, in addition to historical information, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future financial performance, and use words such as “may,” “estimate,” “could,” “expect” and others. They are based on our current expectations and are subject to factors and uncertainties which could cause actual results to differ materially from those described in the statements. Factors that could cause our actual performance to differ materially from those discussed in the forward-looking statements include, among others: incurrence of operating losses since our inception, uncertainty as to adequate financing of our operations, extensive and costly regulatory oversight that could restrict or prevent product commercialization, inability to achieve commercial product acceptance, inability to protect our intellectual property, dependence on strategic partnerships, product competition, and others stated in risk factors contained in our SEC filings. We cannot assure that we have identified all risks or that others may emerge which we do not anticipate. You should not place undue reliance on forward-looking statements. Although subsequent events may cause our views to change, we disclaim any obligation to update forward-looking statements.
SemiLEDs (LEDS) featured as the Daily Momentum Gainer to watch on Smallcappower.com
Toronto, Ontario–(Newsfile Corp. – April 29, 2013) – Leading smallcap investor portal Smallcappower is pleased to highlight SemiLEDs Corporation (NASDAQ: LEDS) as their Daily Momentum Gainer to watch. You can see the chart and view the analyst’s summary here: http://www.smallcappower.com/posts/article-top-momentum-gainer-29-4-2013
During its previous trading session, LEDS was the top gainer in the U.S industrial sector having gained over 20% and closed the day at $1.76 recording significant volumes of over 1.9 million shares. During the past week, LEDS surged more than 50% with 5-day average volume of over 723,581 shares while in the past month, the stock accumulated over 27% with 1-Month average volume of 394,934 shares.
You can see other recent momentum gainer stocks to watch on SmallCapPower here: http://www.smallcappower.com/stock-of-the-day.
About SmallCapPower.com: SmallCapPower.com (SCP) is the industry’s most trusted resource for small cap stocks, offering unprecedented access to the research and tools you need to help uncover the next big thing. Through a unique Post Media branding association, this online platform gets coast-to-coast media exposure in nine daily newspapers as well as the Nationalpost.com and Financialpost.com websites. SmallCapPower.com is also the exclusive online destination to access Ubika Research reports, CEO video interviews and analysis.
Disclosure: Except for the historical information presented herein, matters discussed in this document contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements.
Ubika Research and www.smallcappower.com (are both divisions of Ubika Corporation), and are not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this report. For making specific investment decisions, readers should seek their own advice. For full disclosure please visit: http://www.smallcappower.com/pages/small-cap-power-disclosure.
For additional information contact:
SmallCapPower- info@smallcappower.com
Curis (CRIS) Announces Erivedge Receives Positive CHMP Opinion
– Recommended as Treatment for Advanced Basal Cell Carcinoma –
– Curis Eligible for $6 Million Milestone on European Commission Approval –
LEXINGTON, Mass., April 26, 2013 (GLOBE NEWSWIRE) — Curis, Inc. (Nasdaq:CRIS), an oncology-focused company seeking to develop next generation targeted drug candidates for cancer treatment, today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended a conditional approval of Erivedge (vismodegib) for the treatment of adult patients with symptomatic metastatic basal cell carcinoma, or locally advanced basal cell carcinoma that is inappropriate for surgery or radiotherapy. Conditional approval would make Erivedge the first licensed treatment in Europe for patients with advanced basal cell carcinoma, a rare form of skin cancer which can be disfiguring, debilitating and even fatal.
“We are extremely pleased that the CHMP has recommended the conditional approval of Erivedge in the EU and we hope that this important medicine will soon be available to patients in Europe,” said Dan Passeri, Chief Executive Officer of Curis. “We continue to be pleased by the strength of Roche’s global regulatory and commercialization efforts regarding Erivedge, which we anticipate will significantly broaden patient access to Erivedge globally. Erivedge is currently under review for approval by health authorities in several countries outside of Europe, and regulatory submissions are planned in many additional countries. We view Roche’s broad efforts to expand patient access to Erivedge as a testament to its commitment to this important, first-in-class molecule.”
The European Commission, which has the authority to approve medicines for use in the European Union, generally delivers its final decision within three months of the CHMP recommendation. The decision will be applicable to all 27 EU member states. A European Commission conditional approval would result in Curis earning a $6 million milestone payment from Genentech, a member of the Roche Group. Roche is responsible for commercializing Erivedge in the EU.
The CHMP stated, on the basis of quality, safety and efficacy data submitted, considers there to be a favorable benefit-to-risk balance for Erivedge and therefore recommended the granting of the marketing authorization. This marketing authorization is conditional, and will require the submission of additional data from ongoing studies. The CHMP grants conditional approval to medicinal products that fulfill an unmet medical need.
About Basal Cell Carcinoma (BCC) and the Hedgehog Pathway
Basal cell carcinoma is the most common type of skin cancer in Europe, Australia and the United States. The disease is generally considered curable if the cancer is restricted to a small area of the skin. In advanced BCC, if the disease is left untreated or recurs in the same location after surgery or radiotherapy, it may progress and spread further into surrounding areas such as sensory organs (ears, nose and eyes), bone or other tissues. Depending on the location of the lesion, some cases of advanced BCC can be disfiguring, and treatment with surgery or radiation can lead to the loss of sensory organs and their functions such as eyesight or hearing.
The Hedgehog signaling pathway plays an important role in regulating proper growth and development in the early stages of life and becomes less active in adults. Abnormal Hedgehog signaling is implicated in more than 90 percent of BCC cases.
About Erivedge
Erivedge is designed to selectively target the Hedgehog signaling pathway which is implicated in the development of certain types of cancer, including basal cell carcinoma.
Roche is developing Erivedge under a collaboration agreement with Curis, Inc. Erivedge was discovered by Genentech and jointly validated by Genentech and Curis through a series of preclinical studies. Through this collaboration, Genentech (U.S.), Roche (ex-U.S. excluding Japan) and Chugai Pharmaceuticals (Japan) are responsible for the clinical development and commercialization of Erivedge. Curis is eligible to receive cash payments upon the successful achievement of specified clinical development and regulatory approval milestones, as well as royalties upon commercialization of Erivedge.
In January 2012 Erivedge® became the first licensed medicine for patients with advanced basal cell carcinoma when the U.S. Food and Drug Administration (FDA) approved it under the priority review program that provides for an expedited six-month review of drugs that offer major advances in treatment. Erivedge has since also been approved in Mexico, Israel and South Korea.
About the ERIVANCE BCC Study
The CHMP opinion is based on findings from the pivotal ERIVANCE BCC study which enrolled 104 advanced basal cell carcinoma patients (71 had locally advanced and 33 had metastatic disease) from 31 study centers in the US, Australia and Europe.
The study showed that Erivedge substantially shrank tumors or healed visible lesions, as defined by objective response rate, in 42.9 percent of patients with locally advanced and 30.3 percent of patients with metastatic basal cell carcinoma as assessed by independent review.
The most common adverse events included muscle spasms, hair loss, altered taste sensation, fatigue and weight loss. Serious adverse events (SAEs) were observed in 26 patients (25 percent), however of these only four patients (4 percent) had SAEs that were considered to be related to treatment with vismodegib. Fatal events were reported in seven patients (7 percent) although none were considered by investigators to be related to treatment with Erivedge. In all cases, patients had other pre-existing diseases or symptoms that were related to their presumed cause of death.
About Curis, Inc.
Curis is an oncology-focused company seeking to develop and commercialize next generation targeted drug candidates for cancer treatment. Erivedge® is the first and only FDA-approved medicine for the treatment of advanced basal cell carcinoma and is being commercialized and developed by Roche and Genentech, a member of the Roche Group, under a collaboration agreement between Curis and Genentech. Curis is also developing its pipeline of proprietary targeted cancer drug candidates, including CUDC-427, a small molecule antagonist of IAP proteins; CUDC-907, a dual PI3K and HDAC inhibitor; and CUDC-101, an EGFR/HER2 and HDAC inhibitor. For more information, visit Curis’ website at www.curis.com.
Cautionary Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding Curis’ expectations regarding the timing for an approval decision in Europe, Roche’s expected regulatory plans, and the potential expansion of patient access to Erivedge. Forward-looking statements used in this press release may contain the words “believes”, “expects”, “anticipates”, “plans”, “seeks”, “estimates”, “assumes”, “will”, “may,” “could” or similar expressions. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other important factors that may cause actual results to be materially different from those indicated by such forward-looking statements. For example, the European Commission or other foreign regulatory agencies may not view favorably the safety and efficacy profile of Erivedge in the treatment of advanced BCC, in which case Erivedge will not be approved for sales and marketing for the treatment of such indication in markets outside of the US, Mexico or Israel. Genentech and Roche may experience delays or failures in the manufacture and/or commercial launch of Erivedge. Erivedge’s benefit/risk profile may not be widely accepted by the medical community or third party payors for the treatment of advanced BCC. Regulatory and administrative governmental authorities may determine to delay or restrict Genentech’s ability to continue to develop or commercialize Erivedge. Competing drugs may be developed that are superior to Erivedge. Any of the foregoing risks could adversely affect the royalty revenue that Curis may receive from sales of Erivedge. Unstable market and economic conditions may adversely affect Curis’ financial conditions and its ability to access capital to fund the growth of its business. Curis also faces other important risks relating to its business, operations, financial condition and future prospects that are discussed in its Annual Report on Form 10-K for the year ended December 31, 2012 and other filings that it periodically makes with the Securities and Exchange Commission.
In addition, any forward-looking statements represent the views of Curis only as of today and should not be relied upon as representing Curis’ views as of any subsequent date. Curis disclaims any intention or obligation to update any of the forward-looking statements after the date of this press release whether as a result of new information, future events or otherwise.
CONTACT: Michael P. Gray Chief Financial Officer Curis, Inc. 617-503-6632 mgray@curis.com
Intellicheck (IDN) IDCheck FastForm Identifies Boston Bombing Suspect’s Purchase
Intellicheck Mobilisa, Inc. (NYSE MKT: IDN), a global leader in identity solutions and wireless security systems, announced that its IDCheck FastForm technology has helped confirm that Tamerlan Tsarnaev, the older of the two Boston bombing suspects, purchased two mortar kits from a New Hampshire fireworks store in February.
That month, Tsarnaev made a $200 cash purchase from Phantom Fireworks in Seabrook, NH. As required by store policy, his driver’s license was scanned into the company’s computer system using IDCheck FastForm. After investigators released the suspect’s identity, Phantom Fireworks immediately checked its records and found Tsarnaev’s name seconds later.
“[IDCheck FastForm] software is incorporated into our Front End Customer Capture process, and has helped speed up—and make more accurate—our customer capture rate,” said Michael Koocher, Chief Information Officer of Phantom Fireworks. “Traditionally, the emphasis was on capturing for marketing purposes, but in this case it certainly had an added benefit.”
“Even though experts believe the amount of gunpowder in the mortar kits that Tamerlan purchased—about 1.5 pounds—would not be enough to detonate the Boston bombs alone, some of that powder may have been used,” said Nelson Ludlow, Ph.D., Chief Executive Officer of Intellicheck Mobilisa. “In any case, this ID scan has provided law enforcement officials with an extra piece of evidence in building a narrative of Tsarnaev’s actions in the months leading up to the Boston bombing.”
In December 2009, Intellicheck Mobilisa announced a contract with B.J. Alan Company to integrate the retail version of IDCheck FastForm into all 54 Phantom Fireworks stores nationwide. IDCheck FastForm automates the sale process as well as tracking purchases in relation to each customer and significantly streamlines the process of gathering customer information. With the swipe of an ID card, the customer’s data is automatically and accurately entered into the customer database.
About Intellicheck Mobilisa
Intellicheck Mobilisa is a leading technology company providing wireless technology and identity systems for various applications, including mobile and handheld access control and security systems for the government, military and commercial markets. Products include the Fugitive Finder system, an advanced ID card access control product currently protecting military bases and secure federal locations; ID Check, a patented technology that instantly reads, analyzes, and verifies encoded data in magnetic stripes and barcodes on government-issued IDs, designed to improve the Customer Experience for the financial, hospitality and retail sectors; and Aegeus, a wireless security buoy system for the government, military and oil industry. For more information on Intellicheck Mobilisa, please visit www.icmobil.com.
Safe Harbor Statement
Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. When used in this press release, words such as “will,” “believe,” “expect,” “anticipate,” “encouraged,” and similar expressions, as they relate to the company or its management, as well as assumptions made by and information currently available to the company’s management identify forward-looking statements. Actual results may differ materially from the information presented here. Additional information concerning forward-looking statements is contained under the heading of risk factors listed from time to time in the company’s filings with the SEC. We do not assume any obligation to update the forward-looking information.
Canadian Solar (CSIQ) Files Form 20-F for Year Ended December 31, 2012
GUELPH, Ontario, April 26, 2013 /PRNewswire-FirstCall/ — Canadian Solar Inc. (“the Company”, “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced the filing of its annual report on Form 20-F for the year ended December 31, 2012 with the U.S. Securities and Exchange Commission (“SEC”). The annual report on Form 20-F can be accessed on the Company’s Investor Relations website at www.canadiansolar.com or on the SEC’s website at www.sec.gov.
About Canadian Solar
Canadian Solar Inc. is one of the world’s largest solar companies. As a leading vertically integrated provider of ingots, wafers, solar cells, solar modules and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe, Africa, the Middle East, Australia and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, please visit www.canadiansolar.com.
Bacterin (BONE) Announces Selection of Executive Search Firm
Bacterin International Holdings, Inc. (NYSE MKT: BONE), a leader in the development of revolutionary bone graft material and coatings for medical applications, today announced the selection of O’Hara Associates, Inc. of Deerfield, Illinois to assist in the recruitment of a Chief Executive Officer.
The recommendation to retain the firm was made by the Board’s Nominations and Corporate Governance Committee. “Our selection of O’Hara Associates was based on its expertise and history of locating senior executives for companies in the medical technology sector,” said Jon Wickwire, Director and Chairman of Corporate Governance and Nominating Committee for Bacterin International. “While we have already received a number of candidates, our goal will be to move through the selection process prudently and expeditiously so that we can focus on growing the business and developing the markets we serve.”
The Search Committee engaged in an extensive process that included the review of three proposals, and numerous interviews with search consultants from around the country.
O’Hara Associates is headed by Dan O’Hara who brings more than 20 years of experience in executing retained search projects at the CEO level for various client organizations within the medical device, pharmaceutical, and Healthcare IT sectors.
About Bacterin International Holdings
Bacterin International Holdings, Inc. (NYSE MKT: BONE) develops, manufactures and markets biologics products to domestic and international markets. Bacterin’s proprietary methods optimize the growth factors in human allografts to create the ideal stem cell scaffold to promote bone, subchondral repair and dermal growth. These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain, promotion of bone growth in foot and ankle surgery, promotion of cranial healing following neurosurgery and subchondral repair in knee and other joint surgeries.
Bacterin’s Medical Device division develops, employs, and licenses coatings for various medical device applications. For further information, please visit www.bacterin.com.
About O’Hara Associates, Inc.
Headquartered in Deerfield, Illinois, our experience spans more than 20 years in retained executive search consulting. Our client base includes large and mid-cap multinational, public and private enterprises, as well as a range of premier private equity and venture financed companies. For more information about our firm please visit us at: www.oharainc.com
Important Cautions Regarding Forward-looking Statements
This news release contains certain disclosures that may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to significant risks and uncertainties. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “continue,” “efforts,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “projects,” “forecasts,” “strategy,” “will,” “goal,” “target,” “prospects,” “potential,” “optimistic,” “confident,” “likely,” “probable” or similar expressions or the negative thereof. Statements of historical fact also may be deemed to be forward-looking statements. We caution that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: the Company’s ability to launch beta and full product releases; the Company’s ability to meet its obligations under existing and anticipated contractual obligations; the Company’s ability to develop, market, sell and distribute desirable applications, products and services and to protect its intellectual property; the ability of the Company’s sales force to achieve expected results; the ability of the Company’s customers to pay and the timeliness of such payments, particularly during recessionary periods; the Company’s ability to obtain financing as and when needed; changes in consumer demands and preferences; the Company’s ability to attract and retain management and employees with appropriate skills and expertise; the impact of changes in market, legal and regulatory conditions and in the applicable business environment, including actions of competitors; and other factors. Additional risk factors are listed in the Company’s Annual Report on Form 10-K under the heading “Risk Factors.” The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.
Western Copper and Gold (WRN) Adopts Shareholder Rights Plan
VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 25, 2013) – Western Copper and Gold Corporation (“Western” or the “Company”) (TSX:WRN)(NYSE MKT:WRN) announces that its board of Directors (the “Board”) has adopted a shareholder rights plan (the “Rights Plan”) and an advance notice policy.
RIGHTS PLAN
The Rights Plan is intended to ensure, to the extent possible, that all holders of common shares of the Company and the Board have adequate time to consider and evaluate any unsolicited take-over bid for the common shares of the Company, provide the Board with adequate time to identify, solicit, develop and negotiate value-enhancing alternatives, as considered appropriate, to any unsolicited take-over bid and encourage the fair treatment of the Company’s shareholders in connection with any unsolicited take-over bid.
The adoption of the Rights Plan is not in response to a proposal to acquire control of Western. At this time the Company is not aware of any such transaction that would trigger the provisions of the Rights Plan.
Under the provisions of the Rights Plan, one right (a “Right”) was issued for each common share outstanding as of April 24, 2013. The Rights will initially be represented by the certificates representing the common shares of the Company.
Subject to the terms of the Rights Plan and to certain exceptions provided therein, the Rights will become exercisable in the event any person, together with joint actors, acquires or announces its intention to acquire 20% or more of Western’s outstanding shares without complying with the “Permitted Bid” provisions of the Rights Plan or where the application of the Rights Plan is waived in accordance with its terms. If a take-over is completed without complying with the requirements of the Rights Plan or where the application of the Rights Plan is not waived in accordance with it terms, the Rights holders (other than the acquiring person and its joint actors) will be entitled to purchase additional common shares of the Company at one-half the prevailing market price at that time.
The Rights Plan is not intended to prevent take-over bids. Under the Rights Plan, a bid that, among other things, is made to all shareholders on identical terms and conditions and that is open for at least 60 days may constitute a “Permitted Bid”.
The Toronto Stock Exchange has accepted the notice for filing of the Rights Plan, subject to, among other things, shareholder approval with six months. The Company plans to submit the Rights Plan to the shareholders of the Company for ratification at the annual general meeting currently scheduled on June 20, 2013. If the Rights Plan is not ratified by the shareholders, the Rights Plan and any rights issued pursuant to it will terminate. If the Rights Plan is ratified, it will continue in effect until the third annual meeting of shareholders thereafter.
A copy of the Rights Plan will be available under the Company’s profile on SEDAR at www.sedar.com.
ADVANCE NOTICE POLICY
The Board has adopted an advance notice policy (the “Policy”) in order to facilitate an orderly and efficient annual general or, where the need arises, special meeting, ensure that all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees, and allow shareholders to register an informed vote having been afforded reasonable time for appropriate deliberation.
Among other things, the Policy fixes a deadline by which holders of record of common shares of Western must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the notice to the Company for an effective nomination to occur. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.
In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting of shareholders (which is not also an annual meeting) called for the purpose of electing directors, notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
The Policy is effective and in full force and effect as of April 24, 2013. In accordance with the terms of the Policy, the Policy will be put to shareholders of the Company for approval at the next annual meeting. If the policy is not confirmed at the annual meeting by ordinary resolution of shareholders, the Policy will terminate and be of no further force and effect following the termination of the annual meeting. A copy of the Policy will be available in the Corporate Governance section on the Company’s website at www.westerncopperandgold.com.
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is a Vancouver-based exploration and development company with significant copper, gold and molybdenum resources and reserves. The Company has 100% ownership of the Casino Project located in the Yukon Territory. The Casino Project is one of the world’s largest open-pit gold, copper, silver and molybdenum deposits. For more information, visit www.westerncopperandgold.com.
On behalf of the board,
F. Dale Corman, Chairman & CEO
Cautionary Disclaimer Regarding Forward-Looking Statements and Information
Statements in this news release that are not historical facts constitute “forward-looking statements” or “forward-looking information” (collectively “Forward-Looking Information”) within the meaning of such terms under applicable Canadian and United States legislation. Forward-Looking Information generally expresses predictions, expectations, beliefs, plans, projections, or assumptions of future events or performance. Forward-Looking Information can be identified by the use of words such as “may”, “expects”, “anticipates”, “believes”, “targets”, “forecasts”, “schedules”, “goals”, “budgets”, or similar terminology. Forward-Looking Information herein includes, but is not limited to, statements with respect to: the resources and reserves of Casino; and the viability of mining the Casino deposit. The Forward-Looking Information herein is based on Western’s and, if applicable, its consultants’ current beliefs and on currently available information, and in making such statements, Western has applied certain assumptions including, but not limited to: that Casino will be permitted, developed, and operated according to the assumptions contained in the feasibility study entitled “Casino Project, Form NI 43-101F1 Technical Report Feasibility Study, Yukon, Canada” dated January 25, 2013. Although management of Western considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect. Forward-looking statements and information are inherently subject to significant business, economic, and competitive uncertainties and contingencies and are subject to risks, uncertainties and other factors, both known and unknown, that are beyond Western’s ability to control or predict. Such risks, uncertainties and other factors include, but are not limited to those discussed in Western’s public disclosure record as of the date of this news release, including Western’s Annual Information Form filed with Canadian Securities Administrators and the Company’s Form 40-F filed with the U.S. Securities and Exchange Commission. Although the Company has attempted to identify important factors that could affect it and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, 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 Information 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 or information. Western expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
Contact Information:
Western Copper and Gold
Paul West Sells
President & COO
604.684.9497
Western Copper and Gold
Justin Rasekh
Manager Corporate Communications
604.684.9497
info@westerncopperandgold.com
www.westerncopperandgold.com
Loncor Resources (LON) Moves to Toronto Stock Exchange
TORONTO, ONTARIO — (Marketwired) — 04/25/13 — Loncor Resources Inc. (the “Company” or “Loncor”) (TSX VENTURE:LN)(NYSE MKT:LON)(NYSE Amex:LON) is pleased to announce that its common shares will begin trading on the Toronto Stock Exchange (“TSX”) under the symbol “LN” effective Friday April 26, 2013 and will be delisted from the TSX Venture Exchange (“TSX-V”) at the same time. Loncor began trading on the TSX-V in December 2008 and has been listed on NYSE-MKT (formerly the AMEX market) under the trading symbol “LON” since April 2011. The Company has 73,439,732 common shares issued and outstanding.
“Moving from the Venture exchange to the TSX main exchange represents a significant milestone in Loncor’s evolution and development as a Canadian resource company,” commented CEO Peter Cowley. “While the Venture exchange provided an excellent place from which to launch an exploration company, we envision that the TSX listing will increase the liquidity of the Company’s common shares and provide greater access to capital.”
Loncor Resources is a Canadian gold exploration company focused on two key projects in the Democratic Republic of the Congo (“DRC”) – the Ngayu and North Kivu projects. The Company has exclusive gold rights to an area covering 2,087 sq km of the Ngayu Archaean greenstone belt in Orientale province in the northeast portion of the DRC. Loncor also owns or controls 53 exploration permits in North Kivu province located west of the city of Butembo. Both areas have historic gold production. At its Makapela project, Loncor has an Indicated Mineral Resource of 0.61 million ounces gold (2.20 million tonnes grading at 8.66 g/t Au) and on Inferred Mineral Resource of 0.55 million ounces gold (3.22 million tonnes grading at 5.30 g/t Au). Led by a team of senior exploration professionals with extensive African experience, Loncor’s strategy includes an aggressive drilling program to follow up on initial known targets as well as covering the entire greenstone belt with regional geochemical and geophysical surveys. Additional information with respect to the Company’s projects can be found on the Company’s web site at www.loncor.com.
Peter Cowley, President and CEO of Loncor, is the “Qualified Person” (as such term is defined in National Instrument 43-101) who approved the contents of this press release. Additional information with respect to the Company’s Ngayu Gold Project is contained in the technical report prepared by Venmyn Rand (Pty) Ltd, dated May 29, 2012 and entitled “Updated National Instrument 43-101 Independent Technical Report on the Ngayu Gold Project, Orientale Province, Democratic Republic of the Congo.” A copy of this report can be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.
Forward-Looking Information: This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding mineral resource estimates and the Company’s plans and objective) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company.
Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, risks related to the exploration stage of the Company’s properties, the possibility that future exploration results will not be consistent with the Company’s expectations, changes in world gold markets and equity markets, political developments in the DRC, uncertainties relating to the availability and costs of financing needed in the future, failure to establish estimated mineral resources (the Company’s mineral resource figures are estimates and no assurance can be given that the indicated levels of gold will be produced), the uncertainties involved in interpreting exploration results and other geological data and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s annual report on Form 20-F dated March 28, 2013 filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
For further information, please visit our website at www.loncor.com.
Neither 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.
Contacts:
Loncor Resources Inc.
Peter N. Cowley
President and Chief Executive Officer
+ 44 (0) 790 454 0856
Loncor Resources Inc.
Arnold T. Kondrat
Executive Vice President
Loncor Resources Inc.
Naomi Nemeth
Investor Relations
(416) 366-9189 or 1 (800) 714-7938, Ext 2802
Eurasian Minerals (EMXX) Copper Exploration in Sweden
VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 04/25/13 — Eurasian Minerals Inc. (the “Company” or “EMX”) (TSX VENTURE:EMX)(NYSE MKT:EMXX) is pleased to announce the selection of the Iekelvare Designated Project in Sweden pursuant to the Strategic Alliance and Earn-In Agreement dated February 17, 2011 (the “Alliance Agreement”), executed by the Company and Antofagasta Minerals S.A. (“Antofagasta”), a wholly-owned subsidiary of Antofagasta plc. Iekelvare joins Kiruna South (see February 18, 2011 Company news release) as a Designated Project in Sweden, with both projects selected from EMX’s property portfolio based upon their exploration prospectivity. Antofagasta can earn up to a 70% interest in a Designated Project through a combination of cash payments and work commitments that result in a NI 43-101 compliant feasibility study.
EMX is conducting copper exploration in Sweden funded by Antofagasta under the Alliance Agreement. The Company’s work at Iekelvare identified prospective copper-gold targets through field mapping and the integration of comprehensive exploration databases. EMX and Antofagasta have work programs that are either underway, or planned for later in 2013, at both Iekelvare and Kiruna South.
Iekelvare Designated Project. The Iekelvare Designated Project (“DP”) consists of EMX’s 5,250 hectare “Iekelvare 1” exploration license in Norrbotten County, Northern Sweden. The project is situated within a province of Iron-Oxide-Copper-Gold (“IOCG”) style deposits in the region. Exploration work conducted by the Swedish Geologic Survey (“SGU”) in the 1970’s demonstrated the presence of copper-rich boulders and copper geochemical anomalies in glacial till materials, as well as bedrock hosted copper and gold mineralization in the area.
A Phelps Dodge Exploration Sweden (“PDES”) and Beowulf Gold plc joint venture carried out further exploration work from 2003-2005, including twelve diamond drill holes totaling over 1,400 meters. Drill hole D1-MAJ intersected 110.3 meters (34.8-145.1 m) averaging 0.38% copper and 0.50 g/t gold (true width unknown) along what has been interpreted as a contact zone between granitic and dioritic units. Six additional holes intersected anomalous levels of copper mineralization (i.e., greater than 0.1% Cu). Styles of mineralization seen in the area include zones of massive chalcopyrite with actinolite and iron-oxide-rich mineralization that resemble IOCG deposits. The joint venture’s exploration drilling was limited to relatively small areas on the property, and several geochemical and geophysical anomalies remain untested.
EMX has conducted reconnaissance geologic mapping, as well as rock (n=57) and boulder (n=3) sampling at Iekelvare. This work yielded seven rock samples with anomalous copper (gold) geochemistry, including results of 6.62% copper with 0.673 ppm gold, 884 ppm copper with 0.519 ppm gold, and 938 ppm copper (nil gold). EMX’s field evaluation verified the styles of mineralization identified by the SGU and the PDES JV’s previous work, and outlined a number of targets for follow-up exploration.
Designated Project Earn-In Terms. Antofagasta may earn an initial 51% interest in the DP by spending an aggregate of US $5 million over five years (the “First Option Expenditures”) and making a one-time cash payment to EMX on, or before the fifth anniversary equal to the product obtained by multiplying 225,000 pounds of copper times the average copper price for the previous 30 trading days.
Antofagasta has the option to earn an additional 19% in the DP, for a total of 70%, by sole funding work commitments resulting in the completion of a NI 43-101 compliant feasibility study. These “Second Option Expenditures” will initially consist of a minimum US $3 million over three years, with minimum expenditures of US $2 million per year thereafter until the feasibility study is completed. In addition, to complete the 70% earn-in, Antofagasta will make another cash payment to EMX equal to the product obtained by multiplying 225,000 pounds of copper times the average copper price for the previous 30 trading days.
In the event Antofagasta completes the earn-in requirements to hold a 70% interest in the DP, each party will fund its respective share of further expenditures on a go-forward basis. Standard dilution clauses will apply, and if either party’s interest is diluted below 10%, their interest will automatically be converted to a 2% NSR. EMX retains the right to convert its participating interest in the DP into a 2% net smelter return at any time after Antofagasta earns its 70% interest in such DP, and until commercial production is reached. The conversion option also includes an annual advance royalty payment equal to the product obtained by multiplying 90,000 pounds of copper times the average copper price for the previous 30 trading days.
If Antofagasta fails to complete the Second Option Expenditures the parties’ interests in the DP will remain at Antofagasta 51% and EMX 49%, but EMX will take control and management of the project.
EMX Properties Available for Partnership. In addition, EMX is advancing the Storasen, Aitik South, and Norrmyran properties outside of the Strategic Regional Alliance with Antofagasta. The Storasen copper-gold-PGE project contains a zone of drill-defined mineralization, surface geochemical anomalies, mineralized boulders, and multiple mineral occurrences for follow-up testing. The Aitik South copper-gold project contains several historic prospects, and is located along strike of the Salmijarvi copper and gold deposit. Salmijarvi is a satellite deposit to Boliden AB’s Aitik copper and gold mine. The Norrmyran copper-gold project hosts porphyry style alteration and mineralization exposed in outcrop over a six square kilometer area. EMX’s Storasen, Aitik South, and Norrmyran projects are currently available for partnership.
Comments on Sampling, Assaying, and QA/QC. EMX’s exploration samples were collected in accordance with accepted industry standards and guidelines. The samples were submitted to ALS Chemex laboratories in Pitea, Sweden for sample preparation, and Vancouver, Canada (ISO 9001:2000 and 17025:2005 accredited) for analysis. Gold was analyzed by fire assay with an ICP finish, and copper underwent aqua regia digestion and analysis with ICP/AES techniques. As standard procedure, the Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, and duplicate samples.
About Antofagasta. Antofagasta Minerals SA (“AMSA”) is the mining division of Antofagasta plc. Antofagasta plc is listed on the London Stock Exchange and is a constituent of the FTSE-100 Index, with interests also in transport and water distribution. Currently, AMSA activities are primarily concentrated in Chile where it owns and operates four copper mines: Los Pelambres, Esperanza, El Tesoro and Michilla. The production in 2012 was 709,600 tonnes of copper, 12,200 tonnes of molybdenum and 299,900 ounces of gold. AMSA also has exploration, evaluation and/or feasibility programs in North America, Latin America, Europe, Asia, Australia, and Africa.
About EMX. Eurasian is a global gold and copper exploration company utilizing a partnership business model to explore the world’s most promising and underexplored mineral belts. Eurasian generates wealth via grassroots prospect generation, strategic acquisition and royalty growth.
Mr. Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed, verified and approved disclosure of the technical information contained in this news release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause Eurasian’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the year ended December 31, 2012 (the “MD&A”) and most recently filed Annual Information Form for the year ended December 31, 2012 (the “AIF”), actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
The NYSE MKT, TSX Venture Exchange and the Investment Industry Regulatory Organization of Canada do not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Eurasian Minerals Inc.
David M. Cole
President and Chief Executive Officer
(303) 979-6666
Dave@EurasianMinerals.com
Eurasian Minerals Inc.
Valerie Barlow
Corporate Secretary
(604) 688-6390
(604) 688-1157 (FAX)
Valerie@EurasianMinerals.com
SilverCrest (SVLC) Announces 2013 Annual Meeting, Corporate Governance Measures
VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 25, 2013) – SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) (“SilverCrest” or the “Company”) announces it will hold its annual general meeting of shareholders at 10:00am PDT on June 11, 2013 at the Metropolitan Hotel Vancouver, 645 Howe Street, in Vancouver, BC. May 6, 2013 has been fixed as the record date for determining shareholders entitled to vote at the meeting.
SilverCrest also announces the approval by its Board of Directors of an advance notice policy. This requires advance notice to the Company where nominations of persons for election to the Board of Directors are made by shareholders other than pursuant to the requisition of a meeting or a shareholder proposal. The purpose of the policy is to provide shareholders, directors and management of SilverCrest with a clear framework for nominating directors of the Company. This will ensure that all shareholders receive adequate notice of the director nominations and sufficient information regarding all director nominees, facilitate an orderly and efficient shareholders’ meeting and allow shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation.
The advance notice policy fixes a deadline by which holders of record of common shares of the Company must submit director nominations in writing to the Company prior to any annual or special meeting of shareholders at which directors are proposed for election, and sets forth the information that a shareholder must include in the notice to the Company. No person will be eligible for election as a director of SilverCrest unless nominated in accordance with the advance notice policy.
Notice to the Company must be provided not less than 30 days and not more than 65 days prior to the date of an annual general meeting provided, however, in the event the annual general meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be provided not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting of shareholders which is not also an annual meeting, notice to the Company must be made not later than the close of business on the 15th day following the date on which the first public announcement of the date of the special meeting was made.
For the upcoming annual meeting of shareholders, any notice delivered to the Company prior to the close of business on May 10, 2013 shall be deemed to have been timely delivered.
The advance notice policy is effective immediately and will be placed before shareholders for approval at the annual meeting on June 11, 2013. The full text of the policy is available under the Company’s profile at www.sedar.com and on the Company’s website. The advance notice policy will remain in effect unless amended or rejected by shareholders at the meeting.
The Board of Directors has also adopted a majority voting policy for the election of directors in uncontested elections. Under this policy, if a nominee does not receive the affirmative vote of at least the majority of votes cast, the Director shall promptly tender a resignation for consideration by the Corporate Governance and Nominating Committee and the Board. The Corporate Governance and Nominating Committee shall consider the resignation and recommend to the Board the action to be taken with respect to such offered resignation, which may include: accepting the resignation, maintaining the Director but addressing what the Corporate Governance and Nominating Committee believes to be the underlying cause of the withheld votes, resolving that the Director will not be re-nominated in the future for election, or rejecting the resignation and explaining the basis for such determination. The Corporate Governance and Nominating Committee in making its recommendation, and the Board in making its decision, may consider any factors or other information that they consider appropriate and relevant.
SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest’s flagship property is the 100%-owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag: Au). SilverCrest anticipates that the 2,500 tonnes per day open pit heap leach facility at the Santa Elena mine should recover approximately 625,000 ounces of silver and 33,000 ounces of gold in 2013. . An expansion plan is well underway to double the annual metals production at the Santa Elena Mine (open pit and underground). Exploration programs have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State with stated resources nearing 200 million ounces of Ag equivalent.
J. Scott Drever, President
SILVERCREST MINES INC.
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108 or Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com
Vista Partners Initiates Coverage on Digital Cinema Destinations (DCIN) Price Target $9.00
SAN FRANCISCO, CA — (Marketwired) — 04/25/13 — Vista Partners announced today that it has initiated coverage on Digital Cinema Destinations Corporation (NASDAQ: DCIN) (“DCIN”), with a twelve-month price target of $9.00. Ross Silver, Principal Analyst at Vista Partners, stated, “DCIN is dedicated to identifying, acquiring, and managing solid performing movie theaters via accretive transactions and operates them under the brand name, Digiplex Destinations. DCIN was formed in 2010 to take advantage of the digital disruption taking place within the industry as well as the growing consumer demand for alternative content and its ability to positively leverage fixed theater assets.” Mr. Silver continued, “Management’s strategy for DCIN is to continue to acquire cash flow positive theaters within the nation’s top 100 markets and boost those theaters’ margins through both synergistic operational improvements as well as an increased use of alternative content. In the coming years, management has a goal of ultimately expanding to a total of 100 theaters and 1,000 screens in operation.”
To download a FREE copy of the Digital Cinema Destinations Corporation research report, please visit http://www.vistapglobal.com and click the “download research” icon to gain access to the report.
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Vista Partners LLC, founded in 2005, is a Registered Investment Advisor in the States of California and Oregon. The firm’s professional staff has backgrounds in finance, corporate communications and investment banking.
Please follow Vista Partners on Twitter @VistaPResearch & Facebook at Vista-Partners to receive updates, thoughts and ideas about our coverage universe of companies.
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About Vista Partners
877.215.4813
Ceragon (CRNT) $8M in Expansion Orders from Leading Latin America Operator
The Operator will utilize Ceragon’s solutions to further expand 3G coverage and network capacity in the Southern Cone Region of Latin America
PARAMUS, New Jersey, April 24, 2013 /PRNewswire/ —
Ceragon Networks Ltd. (NASDAQ: CRNT), the #1 wireless backhaul specialist, today announced that a leading mobile operator in the Southern Cone region of Latin America has placed new orders for Ceragon products and services valued at more than $8 million. This network upgrade project, which has been ongoing since early 2012, is based on Ceragon’s leading short haul and long haul solutions and will enable a range of 3G and future 4G services to millions of users across the Southern Cone. The project is expected to be completed by Q3 2013.
Capacity expansion is a key factor in this network upgrade project, as Latin America continues to experience a growing demand for broadband services. Utilizing Ceragon’s FibeAir IP-10 and Evolution Long Haul solutions will help connect new 3G sites while expanding the capacity of the network’s backbone.
“The expanded order for products and services from a premier operator is further validation of the vision we have for the Latin America region,” said Ira Palti, President & CEO of Ceragon Networks. “Increased backhaul density helps our customers deliver connectivity to tens of millions of users, sometimes in areas with no other options for broadband connectivity. Building on this established relationship, Ceragon continues to deepen its presence in the Southern Cone region of Latin America.”
According to the GSMA, mobile broadband connections in Latin America are forecast to top 150 million in early 2013, accounting for about one in five of the region’s mobile subscriptions. Growth in smartphones and data has been achieved despite (in global terms) a relatively late migration to 4G-LTE. In the Southern Cone, Uruguay and Paraguay are the only countries to have started LTE migration. GSMA predicts that Argentina and Chile will be big growth areas in 2013 as LTE initiatives are launched.
About Ceragon Networks Ltd.
Ceragon Networks Ltd. (NASDAQ: CRNT) is the #1 wireless backhaul specialist. We provide innovative, flexible and cost-effective wireless backhaul solutions that enable mobile operators and other wired/wireless service providers to deliver 2G/3G, 4G/LTE and other broadband services to their subscribers. Ceragon’s high-capacity, solutions use microwave technology to transfer voice and data traffic while maximizing bandwidth efficiency, to deliver more capacity over longer distances under any deployment scenario. Based on our extensive global experience, Ceragon delivers turnkey solutions that support service provider profitability at every stage of the network lifecycle enabling faster time to revenue, cost-effective operation and simple migration to all-IP networks. As the demand for data pushes the need for ever-increasing capacity, Ceragon is committed to serve the market with unmatched technology and innovation, ensuring effective solutions for the evolving needs of the marketplace. Our solutions are deployed by more than 430 service providers in over 130 countries.
Ceragon Networks® and FibeAir® are trademarks of Ceragon Networks Ltd., registered in the United States and other countries. CERAGON ® is a trademark of Ceragon Networks Ltd., registered in various countries. Other names mentioned in this publication are owned by their respective holders.
This press release may contain statements concerning Ceragon’s future prospects that are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and projections that involve a number of risks and uncertainties. There can be no assurance that future results will be achieved, and actual results could differ materially from forecasts and estimates. These are important factors that could cause actual results to differ materially from forecasts and estimates. Some of the factors that could significantly impact the forward-looking statements in this press release include the risk of significant expenses in connection with potential contingent tax liability associated with Nera’s prior operations or facilities, risks associated with increased working capital needs, and other risks and uncertainties, which are discussed in greater detail in Ceragon’s Annual Report on Form 20-F and Ceragon’s other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made and Ceragon undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Ceragon’s public filings are available from the Securities and Exchange Commission’s website at http://www.sec.gov or may be obtained on Ceragon’s website at http://www.ceragon.com
Company & Investor Contact:
Yoel Knoll
Ceragon Networks Ltd.
Tel: +1-(201)-853-0228
yoelk@ceragon.com
Media Contact:
Abigail Levy-Gurwitz
Ceragon Networks Ltd.
Tel: +1-(201)-853-0271
abigaill@ceragon.com
Media Contact:
Karen Quatromoni
Rainier Communications
Tel. +1-(508)-475-0025 x150
kquatromoni@rainierco.com
OXiGENE (OXGN) Completion of Enrollment of Phase 2 Ovarian Cancer Trial
SOUTH SAN FRANCISCO, Calif., April 24, 2013 (GLOBE NEWSWIRE) — OXiGENE, Inc. (Nasdaq:OXGN), a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer, announced that enrollment has been completed in a randomized Phase 2 clinical trial testing the combination of ZYBRESTAT® (fosbretabulin; CA-4P) plus bevacizumab to treat patients with advanced ovarian cancer. This trial, GOG-0186I, is being conducted by the Gynecologic Oncology Group (GOG) under the sponsorship of Cancer Therapy Evaluation Program (CTEP) of the National Cancer Institute (NCI). This is the first and currently the only randomized trial to test an antiangiogenic therapeutic agent combined with a vascular disrupting agent in ovarian cancer, without including any cytotoxic chemotherapy. The fosbretabulin tromethamine is being provided to CTEP under a Cooperative Research and Development Agreement (CRADA) with OXiGENE and the bevacizumab is being provided under a CRADA with Genentech, Inc.
“We are pleased that this study has reached this important milestone, and look forward to final results and continuing to collaborate with GOG and Genentech, as the results from this clinical trial will inform our understanding of the therapeutic potential of combining these two anti-vascular approaches,” said Peter Langecker, M.D., Ph.D., OXiGENE Chief Executive Officer. “We believe that there is a strong scientific rationale for this combination, as well as compelling preclinical and Phase 1 data that support this approach. Both Avastin and ZYBRESTAT target the tumor vasculature, but they work very differently and in complementary ways. ZYBRESTAT targets and destroys the established vasculature that supplies blood to the tumor, and therefore targets the core of the tumor to deprive it of the oxygen it needs to grow. Avastin is designed to target the newly forming vasculature that forms primarily on the outside of the tumor as tumor growth occurs. Combined, we believe they will result in a more significant reduction in blood flow that can starve and kill the tumor than with either drug alone.”
In this Phase 2 trial, 110 patients with advanced, platinum-sensitive and resistant ovarian cancer have been enrolled at over 80 clinical sites in the US. Patients were randomized into one of two treatment arms: one arm to receive bevacizumab, and the second arm to receive bevacizumab plus ZYBRESTAT. Once enrolled, patients are treated until disease progression or until adverse effects prohibit further therapy. The primary endpoint of the trial is to demonstrate a median progression-free survival increase from 50% to 65% with the combination of bevacizumab plus ZYBRESTAT, and secondary endpoints include safety, overall survival and objective responses by treatment. Since full enrollment was achieved, we are seeking guidance from the GOG as to whether an interim analysis will be performed. Preliminary results from the final data set from this trial are anticipated in the first half of 2014.
About the Gynecologic Oncology Group
The Gynecologic Oncology Group (GOG) is a not-for-profit organization with the purpose of promoting excellence in the quality and integrity of clinical and basic scientific research in the field of gynecologic malignancies. The GOG is committed to maintaining the highest standards in clinical trials development, execution, analysis and distribution of results. The GOG is one of the National Cancer Institute’s funded cooperative groups. The GOG is the only group that focuses its research on women with pelvic malignancies, such as cancer of the ovary, uterus, and cervix. The GOG is multi-disciplinary in its approach to clinical trials, and includes gynecologic oncologists, medical oncologists, pathologists, radiation oncologists, nurses, statisticians, basic scientists, quality of life experts, data managers, and administrative personnel.
About OXiGENE
OXiGENE is a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer. The Company’s major focus is developing vascular disrupting agents (VDAs) that selectively disrupt abnormal blood vessels associated with solid tumor progression. OXiGENE is dedicated to leveraging its intellectual property and therapeutic development expertise to bring life-extending and life-enhancing medicines to patients.
Safe Harbor Statement
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any or all of the forward-looking statements in this press release, which include the timing of advancement, outcomes, and regulatory guidance relative to our clinical programs, achievement of our business and financing objectives may turn out to be wrong. Forward-looking statements can be affected by inaccurate assumptions OXiGENE might make or by known or unknown risks and uncertainties, including, but not limited to, the inherent risks of drug development and regulatory review, and the availability of additional financing to continue development of our programs.
Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in OXiGENE’s reports to the Securities and Exchange Commission, including OXiGENE’s reports on Form 10-K, 10-Q and 8-K. However, OXiGENE undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise. Please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2012.
CONTACT: Investor and Media Contact: ir@oxigene.com 650-635-7000
Bullish $10 Million Bet Placed by CRO After CEL-SCI (CVM) Phase III Enrollment Move
LOS ANGELES, CA — (Marketwired) — 04/24/13 — In newly published news, CEL-SCI Corporation (NYSE MKT: CVM) has provided investors a much needed update on the Phase III Clinical Trial of its investigational drug Multikine.
We perceive this as a bullish advancement for several reasons.
Some may recall that in early April, when shares were starting to bounce off 52-week lows, we told investors that CEL-SCI shares appeared to be trading at undervalued levels and that several insiders at the company, led by Chief Executive Officer Geert Kersten, purchased nearly 400,000 shares at discounted prices. Within a couple of sessions, shares bounced back (over 27.62% from those lows) but could head higher now that the company hired two clinical research organizations (CROs) who are international leaders in managing oncology trials — Aptiv Solutions and Ergomed — to not only manage, but also expand the firm’s global Phase III study for the treatment of head and neck cancer.
According to the company, both CROs will help the Company grow the trial by 60-80 clinical sites globally and that will likely mean more positive news flow in the days and months ahead.
The two CROs have replaced the current CRO managing the study and that may be a good thing, since having watched the trading on the stock, it appeared to us that some investors may have been fearful that little or no enrollment had occurred in the pivotal Phase III trials. Obviously, we now have guidance that the opposite is actually true.
The company states that to date, the study has enrolled 117 patients and has been conducted at 39 sites in 8 countries, including three centers in Israel where CEL-SCI’s partner Teva Pharmaceuticals has the marketing rights, and nine centers in Taiwan where the Company’s partner Orient Europhama has the marketing rights.
In addition, under a co-development agreement, privately-held firm Ergomed will contribute up to $10 million towards the study where it will perform clinical services in exchange for a single digit percentage of milestone and royalty payments, up to a specified maximum amount. Ergomed will be responsible for the majority of the new patient enrollment since it has a novel model for clinical site management to accelerate patient recruitment and retention.
At Ray Dirks Research we believe that Ergomed’s contribution hints that something big may be coming. It remains to be seen whether investors will agree and that this news will continue to have a positive effect on the share price — particularly as we expect to hear more news about new clinical sites and patients being added more regularly.
After speaking to management about these positive developments, we continue to feel that current prices remain underappreciated, especially given how far along in the FDA approval process the company now finds themselves. We also take note that Ergomed has almost 25 physicians who can directly call on clinical sites to aid recruitment and retention.
CEL-SCI obviously believes that interaction on a physician to physician level is what is needed to help physicians increase enrollment in the Multikine study.
“They key to our study is the speed of enrollment,” said CEO Kersten. “The CROs we selected are putting $10 million of their own money at stake. This, combined with our own observations in other studies makes us comfortable with their projections for enrollment figures.”
Very active CEL-SCI shares broke a down trend recently and are currently trading -54.48% below their 52-week high of $.58, so we see some technical room to the upside at these levels. The market has also seen a -1.85% decrease in the number of shares currently short the stock with approximately five days left to cover.
Disclosure: None
The complete version of this report by Ray Dirk’s Research can be found here:
http://www.biomedreports.com/20130424132646/bullish-10-million-bet-placed-by-new-cro-after-cel-sci-acts-to-accelerate-phase-iii-enrollment.html
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Job Creation, Community Development Highlight Banro’s (BAA) 2013 Report
TORONTO, ONTARIO — (Marketwired) — 04/24/13 — Banro Corporation (“Banro” or the “Company”) (TSX:BAA)(NYSE MKT:BAA)(NYSE Amex:BAA) is pleased to announce that it has released its 2013 Sustainability Report, “Investing in Capacity Building Jobs and Community Development.” The report focuses on the Company’s contributions to regional economic development in the eastern Democratic Republic of the Congo (the “DRC”), while addressing a spectrum of mining-related issues, including community relations, environmental management, workplace practices, artisanal mining, human rights and conflict gold.
Among the Report’s highlights are the following:
-- Since November 2004, Banro has invested US$492 million in South Kivu and Maniema provinces, creating jobs and business opportunities for tens of thousands of local people, generating taxes, adding new public facilities and infrastructure and more. -- Banro employs over 1,000 Congolese in technical, professional, management or supervisory jobs that build real capacity; another 3,000 Congolese are employed through contractors. This direct employment generates an additional 20,000 + jobs indirectly in the larger economy with a multiplier effect that helps to support around 200,000 local people. -- Through its operations and affiliated charity, the Banro Foundation, the Company is making a substantial contribution to social infrastructure, including the upgrading and construction of over 500 kilometres of roads, plus new schools, housing, health care facilities, potable water systems and more. -- Education is the top priority for the Banro Foundation, which has constructed 10 new schools and rehabilitated two more schools, serving a total of 4,000 students in South Kivu and Maniema provinces. All 12 schools have also been outfitted with desks and furniture. This has been complemented by initiatives to increase school enrollment by girls, retain teachers, rescue and educate former child artisanal miners, and introduce community literacy programs. -- Banro sources almost all materials and services within Africa, with a rapidly growing share of purchases being made in the DRC. In 2012, the Company spent $117 million on goods, services and wages in the DRC. An additional $135 million worth of goods and services was sourced in the rest of Africa. In buying locally, Banro is not only contributing to the growth of the local economy, but also challenging business people to meet new and improved standards in ways that will benefit the entire business sector. -- Banro is building the industrial skills base of Congolese through vocational training and skills development in the workplace; strengthening of university faculties in relevant disciplines; and scholarships for high potential students. The Company has also introduced world class standards of occupational health and safety in all its operations.
The 2013 Sustainability Report can be viewed in English or French versions on the Banro website at www.banro.com.
Banro Corporation is a Canadian gold mining company focused on production from the Twangiza oxide mine and development of three additional major, wholly-owned gold projects, each with mining licenses, along the 210 kilometre long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the Democratic Republic of the Congo (the “DRC”). Led by a proven management team with extensive gold and African experience, Banro’s plans include the construction of its second gold mine at Namoya, at the south end of this gold belt, as well as the development of two other projects, Lugushwa and Kamituga, in the central portion of the belt. The initial focus of the Company is on oxides, which have a low capital intensity to develop but also attract a lower technical and financial risk to the Company as the Company develops this prospective gold belt. All business activities are followed in a socially and environmentally responsible manner.
Contacts:
Banro Foundation
Toronto, Ontario
Martin Jones
(416) 366-2221 extension 3213
www.banro.com
Real Goods Solar (RSOL) to Power 18 Stockton Unified School District Schools
5.1 MW Project Expected to Save School District $600,000 in Energy Costs in First Year Alone
LOUISVILLE, Colo., April 24, 2013 (GLOBE NEWSWIRE) — RGS Energy, the commercial and utility division of Real Goods Solar, Inc (Nasdaq:RSOL), and Smart Energy Capital (SEC), will provide Stockton Unified School District (SUSD) with 5.1 megawatts (MW) of solar power that will bring clean energy to 18 SUSD schools and facilities in California. The solar installations are expected to save the district $600,000 in the first year, which will directly benefit school programs and services district wide.
The systems will allow the district to pay less for solar electricity over the course of the 25-year power purchase agreement (PPA), provided by SEC, a leading solar development and finance company. Moreover, the photovoltaic solar systems will deliver environmental benefits to the region, eliminating over 290 million pounds of annual carbon dioxide emissions, which is the equivalent of taking roughly 1,000 cars off California’s roads each year (according to the EPA calculator).
“Going solar provides an exceptional real-world learning opportunity by reducing energy costs to free up funds that can be used to improve educational facilities and launch new learning programs for students,” said SUSD Superintendent Dr. Steve Lowder. “We are proud to invest in renewable energy and set an example of environmental leadership.”
SUSD, by working with RGS Energy and SEC, is now able to go solar with no upfront cost and pay less for solar electricity than they currently pay for utility power. RGS Energy, which has operations centers in numerous states, including California, will be responsible for construction, maintenance and monitoring of the systems.
Stockton Unified will join school districts across the state in benefiting from California’s Net Metering policy, which credits solar customers for the surplus clean energy their systems send to the grid. The SUSD solar project will provide clean electricity for use by the schools during the day, and reduce the need for expensive peak power utility production.
“We have successfully deployed solar energy systems at many schools and academic institutions and are always impressed by the great value proposition that solar brings to the educational sector in particular,” said Real Goods Solar CEO, Kam Mofid. “RGS Energy is delighted to help the Stockton Unified School District achieve its goals of fiscal responsibility, educational excellence and environmental stewardship.”
The project is comprised of more than 17,000 solar panels that will sit atop parking lot carports on the campuses, including the district’s four comprehensive high schools. Providing both shade and solar power, these installations will also afford students with firsthand demonstrations of how solar technology works, and of solar energy’s benefits to the classroom, where students can view the school’s real-time energy production through online monitoring.
RGS Energy, who has designed and installed nearly 50 MW of solar power on schools, universities and colleges across the nation, expects to complete the project – valued at approximately $20 million – in 2013 and 2014.
About Stockton Unified School District
Stockton Unified School District, headquartered in Stockton, California, is made up of elementary, high and specialty schools that service the majority of Stockton students.
About Smart Energy Capital
Smart Energy Capital, LLC ( www.smartenergycapital.com ) is a leader in the financing and development of solar energy projects for commercial, government and utility customers. The Company manages the development, financing, installation and operations of distributed power plants throughout the United States. The Company maintains extensive relationships with a wide range of lenders and investors.
About Real Goods Solar and RGS Energy
Real Goods Solar, Inc. (RSOL) is one of the nation’s pioneering solar energy companies serving commercial, residential, and utility customers. Beginning with one of the very first photovoltaic panels sold in the U.S. in 1978, the company has installed more than 14,500 solar power systems representing over 100 megawatts of 100% clean renewable energy. Real Goods Solar makes it very convenient for customers to save on their energy bill by providing a comprehensive solar solution, from design, financing, permitting and installation to ongoing monitoring, maintenance and support. As one of the nation’s largest and most experienced solar power players, the company has 15 offices across the West and the Northeast. It services the commercial and utility markets through its RGS Energy division. For more information, visit RealGoodsSolar.com or RGSEnergy.com, on Facebook at http://facebook.com/realgoodssolar and on Twitter at http://twitter.com/realgoodssolar.
Forward-looking Statements
This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as “expect,” “intend,” “believe,” “will,” “should” or comparable terminology or by discussions of strategy. While Real Goods Solar believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods Solar’s filings with the Securities and Exchange Commission. Real Goods Solar assumes no duty to update any forward-looking statements.
CONTACT: Media and Investor Relations Contact: Ron Both Liolios Group, Inc. Tel (949) 574-3860 RSOL@liolios.com
Voltari (VLTC) Announces 1-for-10 Reverse Stock Split
NEW YORK, April 23, 2013 (GLOBE NEWSWIRE) — Voltari Corporation (Nasdaq:VLTC) (“Voltari”) today announced the completion of a reverse stock split of the Company’s outstanding shares of common stock at a reverse split ratio of one-for-ten (the “Reverse Stock Split”). On April 23, 2013, the Company filed with the Secretary of State of the State of Delaware a certificate of amendment to its Amended and Restated Certificate of Incorporation (the “Certificate of Amendment”) to effect the Reverse Stock Split. The Certificate of Amendment became effective at 4:15 p.m. on April 23, 2013, at which time every ten shares of the Company’s issued and outstanding common stock were automatically combined into one issued and outstanding share of the Company’s common stock, without any change in the par value per share. No fractional shares are to be issued. The Company will directly pay each stockholder who would otherwise have been entitled to a fraction of a share an amount in cash equal to the closing sale price of its common stock, as quoted on the NASDAQ Capital Market (“NASDAQ”) on April 23, 2013, multiplied by the fractional share amount.
Trading of the Company’s common stock will continue on NASDAQ on a reverse stock split-adjusted basis. The new CUSIP number for the Company’s common stock following the Reverse Stock Split is 92870X309.
On April 9, 2013, the Company’s stockholders voted to approve the Certificate of Amendment, to be implemented if the Company’s board of directors (the “Board”) determined that the Reverse Stock Split was appropriate in order to regain compliance with the listing requirements of NASDAQ. On April 15, 2013, the Board determined that the Reverse Stock Split was appropriate and authorized the filing of the Certificate of Amendment.
About Voltari
Voltari empowers mobile operators, brands and advertising agencies to maximize the reach and economic potential of the mobile ecosystem through the delivery of relevance-driven merchandising, marketing and advertising solutions. Voltari leverages advanced predictive analytics capabilities to deliver the right content, to the right person at the right time. Voltari provides their entire suite of mobile data service solutions through one, integrated, highly scalable managed service platform. Voltari’s unique combination of technology, expertise and go-to-market approach delivers return-on-investment for our mobile operator, brand and advertising agency customers. For more information, visit www.voltari.com or follow @voltari on Twitter.
Safe Harbor and Forward-Looking Statements
Statements made in this report and related statements that express Voltari’s or its management’s intentions, indications, beliefs, expectations, guidance, estimates, forecasts or predictions of the future constitute forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, and relate to matters that are not historical facts. They include, without limitation, statements related to the anticipated benefits of the Reverse Stock Split and whether and when Voltari’s common stock will regain compliance with the NASDAQ listing requirements. These statements represent beliefs and expectations only as of the date they were made. The Company may elect to update forward-looking statements but expressly disclaims any obligation to do so, even if its beliefs and expectations change. Actual results may differ from those expressed or implied in the forward-looking statements.
Such forward-looking statements involve and are subject to certain risks and uncertainties that may cause our actual results to differ materially from those discussed in a forward-looking statement. These include, but are not limited to the uncertainties described more fully in the Company’s filings with the Securities and Exchange Commission.
CONTACT: Investor and Media Contact: Alex Wellins The Blueshirt Group (415) 217-5861 alex@blueshirtgroup.com
Riverside’s Golden Arches Get Super Charged by ECOtality (ECTY)
University Avenue McDonald’s Restaurant Installs Riverside’s First Blink® Direct Current Fast Chargers for Electric Vehicles
RIVERSIDE, Calif., April 23, 2013 /PRNewswire/ — A McDonald’s® restaurant in Riverside, Calif. today announced it has become the county’s first and only electric vehicle (EV) fast charge station with the installation of its Blink® Direct Current (DC) Fast Charger. As part of its continued path to greening, the restaurant partnered with ECOtality Inc. (NASDAQ: ECTY), a leader in clean electric transportation and storage technologies, to provide the latest EV charge technology to customers. The restaurant will also have a standard Blink pedestal charging station available.
The Blink DC Fast Charger offers improved range confidence for EV customers visiting the restaurant, which is located at 2242 University Avenue. The LEED (Leadership in Energy and Environmental Design) Gold certified McDonald’s restaurant worked closely with ECOtality to ensure the restaurant received the latest in EV fast charge technology.
“It’s thrilling to be Riverside’s source for the latest in fast charge technology,” said Candace Spiel, McDonald’s owner/operator. “For us, it all comes down to being able to offer the Riverside community a better customer service experience and further demonstrate our commitment to environmental stewardship.”
ECOtality is the project manager for The EV Project, supervising the largest deployment of EV infrastructure to date. The new Blink DC Fast chargers currently deliver the fastest charging rate available, while Blink pedestal chargers are ideal for top off charging. McDonald’s EV customers will be able to charge their batteries up to 80% in less than 30 minutes using Blink’s DC fast charger, and there is currently no associated fee. Blink members can charge at the Level 2 pedestal charger for as low as $1 per hour. Membership is required for use of the Blink network, or EV owners can call for a guest pass at the charge station. Interested EV drivers can sign up for a free Blink membership here.
“This partnership is an important achievement for Blink as we continue to serve all aspects of an EV drivers’ charging needs,” stated Brian Koontz, National Account Sales Manager for ECOtality, Inc. “EV drivers can visit this particular McDonald’s, which has set the gold standard for sustainable construction in the fast food industry, and recharge their vehicles while enjoying one of the country’s favorite restaurant chains.”
This restaurant is owned and operated by Tom and Candace Spiel and stood as a McDonald’s for 44 years. In 2010, it was completely rebuilt to operate in a more environmentally friendly way. In addition to the new Blink charging stations, current green features include low flow plumbing fixtures saving approximately 250,000 gallons of water; native drought tolerant plants to reduce water consumption; permeable pavers to help divert about 283,000 gallons of rainfall from storm water systems; and solar panels that save approximately 8,950 kWH per month of utility usage, which is equal to the power usage of 13 average Riverside homes for one month. The restaurant also includes an interactive touch screen display for visitors to learn about the building’s features, environmental sustainability and how individuals can reduce their own carbon footprint.
The Spiel’s have risen within the ranks of the McDonald’s system over the last 40 years and currently own and operate nine McDonald’s restaurants in the Inland Empire located in Chino, Ontario, Montclair, Pomona, Riverside and Rubidoux. They are members of the McDonald’s Operators’ Association of Southern California, which is comprised of more than 120 small business owners who operate more than 600 McDonald’s restaurants in the counties of Los Angeles, Orange, Riverside, San Bernardino and Ventura.
Contact: | Sarah Stanley |
Porter Novelli | |
323-762-2447 | |
Sarah.Stanley@porternovelli.com |
BioTime (BTX) Subsidiary LifeMap Sciences Announces Partnership with Appistry
LifeMap Sciences, Inc., a subsidiary of BioTime, Inc. (NYSE MKT:BTX), announced today a collaborative partnership and value-added reseller agreement with Appistry, Inc., which provides big-data computing that supports life-science and medical analytics at hospitals and medical research centers and organizations. The intent of the partnership is to integrate LifeMap’s GeneCards® and MalaCards databases of human genes and diseases into the DNA and RNA sequence analysis outputs and reports produced by Appistry’s leading-edge Ayrris™ computing environment. Appistry will market reports that include the GeneCards® and MalaCards data to clinicians and researchers under a revenue share arrangement with LifeMap, based on sales of such reports.
Current U.S. annual spending on genetic testing and molecular diagnostics according to a UnitedHealthcare 2012 report (http://www.unitedhealthgroup.com/~/media/UHG/PDF/2012/UNH-Working-Paper-7.ashx ) is at least $3-$4 billion annually. Today’s healthcare eco-system is increasingly dependent on genetic testing and molecular diagnostics, particularly as the advent of next-generation sequencing (NGS) technologies have enabled a substantial reduction in the costs associated with gene sequencing, enabling rapid sequencing of the DNA of individual patients. Labs and hospitals cite analysis of NGS data as a primary bottleneck to leveraging genetic information to better diagnose disease, assess treatment options, and develop the targeted therapies that will enable personalized medicine, an expanding field in which medical decisions, practices, and therapeutic products are being tailored to the individual patient based on their own genes.
Appistry’s Ayrris™ computing environment supports the rapid assembly of complex, data-intensive analytics that run a customer’s choice of open-source, commercial, and proprietary tools at scale without requiring specialized expertise in high-performance computing or a complex software development effort. Under the partnership, Appistry will deliver access to data from LifeMap’s GeneCards® and MalaCards databases within the pipeline results and personalized medicine reports provided by its Ayrris™ life science solutions and services. GeneCards®, the human gene compendium, provides concise genomic information on all known and predicted human genes, including gene-disease associations, variants and single nucleotide polymorphisms, gene function and other fields of interest. MalaCards, the human disease database, contains information relating to a wide array of human diseases and the roles of genes in disease processes. LifeMap Sciences holds the exclusive worldwide license to market GeneCards® and MalaCards from Yeda Research and Development Company Ltd., the commercial arm of the Weizmann Institute of Science.
“One of the biggest limitations on using next-generation sequencing in clinical settings is the ability to effectively translate raw sequence data into medically meaningful results,” said Kevin Haar, CEO of Appistry. “To realize the promise of personalized medicine, organizations need to scale their bioinformatics pipelines to handle thousands of patient cases, while also providing information physicians can act on. Our partnership with LifeMap enables medical researchers to extend their analytic processes to deliver a better understanding of the biological pathways and disease states associated with genetic samples.”
“We expect LifeMap Sciences to be the leading source of gene and disease information for clinicians and patients in the rapidly growing fields of molecular diagnostics, prevention and personalized medicine,” said David Warshawsky, Ph.D., CEO of LifeMap. “The combination of GeneCards® and MalaCards comprehensive gene and disease related knowledge with the end-to-end NGS analysis workflow offered by Appistry will greatly enhance the potential for improved diagnosis, prevention, and treatment of devastating conditions.”
About Appistry
Appistry (www.appistry.com) orchestrates solutions to big data problems, and since 2001, the company’s fabric technology has empowered organizations and researchers to transform vast data into actionable intelligence. Appistry weaves together high-performance computing and analytics to provide the throughput and scale required for diverse applications—from discovering new medical therapies to delivering overnight packages, gaining clarity from financial transactions, or deciphering military satellite images. In 2012, Appistry was selected by the Broad Institute as the exclusive distributor of the GATK for use in for-profit settings.
About LifeMap Sciences, Inc.
LifeMap Sciences’ (www.lifemapsc.com) core technology and business is based on its integrated database suite, the discovery platform for biomedical and stem cell research. This platform includes GeneCards®, the leading human gene database; LifeMap Discovery™, the database of embryonic development, stem cell research and regenerative medicine; and MalaCards, the human disease database. According to Google Analytics, the sites have generated more than 2,000,000 unique visitors with more than 13,000,000 page views in the past 12 months. LifeMap Sciences also markets PanDaTox, an innovative, recently developed, searchable database that can aid in the discovery of new antibiotics and biotechnologically beneficial products.
In addition to database offerings, LifeMap Sciences is BioTime’s principal marketing subsidiary for research products, including PureStem™ human progenitor cell lines, GMP human embryonic stem (hES) cell lines, ESpan™ growth media for progenitor cell lines, and cell differentiation media for non-therapeutic uses, via its LifeMap BioReagents™ portal. LifeMap Sciences utilizes its databases as part of its online marketing strategy to reach life sciences researchers at biotech and pharmaceutical companies and at academic institutions and research hospitals worldwide.
In a therapeutic discovery collaboration with BioTime, LifeMap’s scientists utilize LifeMap’s proprietary platform, including LifeMap Discovery™, its stem cell database along with the GeneCards® and MalaCards integrated database suite, to aid in the development of BioTime’s proprietary PureStem™ human progenitor cell lines into products for the treatment of human diseases, especially degenerative diseases that might be treatable with cell replacement therapies. The LifeMap Discovery™ platform will be used to select the progenitor cell lines that are most likely to be useful in developing cell-based regenerative medicine therapies for a wide range of diseases.
About BioTime, Inc.
BioTime, headquartered in Alameda, California, is a biotechnology company focused on regenerative medicine and blood plasma volume expanders. Its broad platform of stem cell technologies is enhanced through subsidiaries focused on specific fields of application. BioTime develops and markets research products in the fields of stem cells and regenerative medicine, including a wide array of proprietary PureStem™ cell lines, HyStem® hydrogels, culture media, and differentiation kits. BioTime is developing Renevia™ (formerly known as HyStem®–Rx), a biocompatible, implantable hyaluronan and collagen-based matrix for cell delivery in human clinical applications. BioTime’s therapeutic product development strategy is pursued through subsidiaries that focus on specific organ systems and related diseases for which there is a high unmet medical need. BioTime’s majority owned subsidiary Cell Cure Neurosciences Ltd. is developing therapeutic products derived from stem cells for the treatment of retinal and neural degenerative diseases. BioTime’s subsidiary OrthoCyte Corporation is developing therapeutic applications of stem cells to treat orthopedic diseases and injuries. Another subsidiary, OncoCyte Corporation, focuses on the diagnostic and therapeutic applications of stem cell technology in cancer, including the diagnostic product PanC-Dx™ currently being developed for the detection of cancer in blood samples. ReCyte Therapeutics, Inc. is developing applications of BioTime’s proprietary induced pluripotent stem cell technology to reverse the developmental aging of human cells to treat cardiovascular and blood cell diseases. BioTime’s subsidiary LifeMap Sciences, Inc. markets GeneCards®, the leading human gene database, as part of an integrated database suite that also includes the LifeMap Discovery™ database of embryonic development, stem cell research and regenerative medicine, and MalaCards, the human disease database. LifeMap Sciences also markets BioTime research products and PanDaTox, an innovative, recently developed, searchable database that can aid in the discovery of new antibiotics and biotechnologically beneficial products. Asterias Biotherapeutics, Inc. is a new subsidiary being used to acquire the stem cell assets of Geron Corporation, including patents and other intellectual property, biological materials, reagents and equipment for the development of new therapeutic products for regenerative medicine. BioTime’s lead product, Hextend®, is a blood plasma volume expander manufactured and distributed in the U.S. by Hospira, Inc. and in South Korea by CJ CheilJedang Corporation under exclusive licensing agreements. Additional information about BioTime can be found on the web at www.biotimeinc.com.
About the Weizmann Institute of Science and GeneCards
The Weizmann Institute of Science in Rehovot, Israel, is one of the world’s top-ranking multidisciplinary research institutions. Noted for its wide-ranging exploration of the natural and exact sciences, the Institute is home to 2,700 scientists, postdoctoral fellows, Ph.D. and M.Sc. students, and scientific, technical and administrative staff. In addition, visiting scientists and their families – over 500 from 35 countries in 2010 are regularly hosted at the Institute. The Institute was founded in 1934 following a donation to Dr. Chaim Weizmann, a noted biochemist and biotechnologist, who envisioned the establishment of a world-class scientific research center in Israel, and later also became the first President of the State of Israel. Weizmann Institute’s Feinberg Graduate School was established in 1958, where about 1000 M.Sc. and Ph.D. students are enrolled in studies covering the Institute’s 18 departments, which are grouped into five faculties: Biochemistry, Biology, Chemistry, Physics, and Mathematics and Computer Science. The Institute’s technology transfer arm, Yeda Research and Development Co. was the first company of its kind in Israel, and is currently one of the most successful worldwide. Institute research efforts include the search for new ways of fighting disease and hunger, examining leading questions in mathematics and computer science, probing the physics of matter and the universe, creating novel materials and developing new strategies for protecting the environment. Particular excellence in bioinformatics and systems biology is manifested, among others, in the GeneCards project, initiated in 1996, under the leadership of Prof. Doron Lancet of the Dept. of Molecular Genetics, Head of the Crown Human Genome Center. A team of 10 led by Marilyn Safran continuously innovates and keeps GeneCards as a world-top human gene compendium, automatically mining and integrating 100 worldwide web resources.
Forward-Looking Statements
Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for BioTime and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the business of BioTime and its subsidiaries, particularly those mentioned in the cautionary statements found in BioTime’s Securities and Exchange Commission filings. BioTime disclaims any intent or obligation to update these forward-looking statements.
To receive ongoing BioTime corporate communications, please click on the following link to join our email alert list:
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Celsion Corp. (CLSN) Provides Business Update
HEAT Study Analysis Shows ThermoDox® Improves Progression Free Survival (PFS) and Overall Survival (OS) when Heating is Optimized Cash Conservation Program Facilitates the Company’s Strategic Options Engagement of Financial Advisor Assists in Evaluation of Acquisition Opportunities
LAWRENCEVILLE, N.J., April 23, 2013 /PRNewswire/ — Celsion Corporation (NASDAQ: CLSN) today is providing a business update, including the latest findings from its analysis of clinical trial results for ThermoDox®, Celsion’s proprietary heat-activated liposomal encapsulation of doxorubicin. Celsion is evaluating ThermoDox® in a Phase III clinical trial for primary liver cancer (the HEAT Study), a Phase II clinical trial for colorectal liver metastasis and a Phase II clinical trial for recurrent chest wall breast cancer.
Phase III HEAT Study Data Analysis
The Company has conducted a comprehensive analysis of the data from the Phase III HEAT Study with key principal investigators, data experts and liver cancer experts. This follows the announcement on January 31, 2013, that ThermoDox® in combination with radiofrequency ablation (RFA) did not meet the study’s primary endpoint. Emerging data from the HEAT Study post analysis demonstrates that ThermoDox® markedly improves progression free survival (PFS) and overall survival (OS) in patients who had optimal RFA. The analysis indicates that if patients’ lesions undergo RFA for 45 minutes or more, they clearly benefitted from ThermoDox®. These findings apply to HCC lesions from both size cohorts of the HEAT Study (3-5 cm and 5-7 cm) and represent a sizable subgroup of patients. This data is subject to further verification and review by the HEAT Study Steering Committee.
“We have completed a thorough review of the HEAT Study and there is clear evidence that ThermoDox® can benefit patients when RFA is optimized,” said Dr. Nicholas Borys, Celsion’s Vice President and Chief Medical Officer. “These data are very exciting and consistent with the mechanism of ThermoDox® activity.”
Michael Tardugno, Celsion’s Chief Executive Officer, added, “Based on the strength of these findings, the Company will request a meeting with regulatory authorities for guidance on moving forward with our HCC development program. We plan to disclose the details of the HEAT Study data at upcoming medical meetings and in a peer-reviewed publication. We will provide updates on these activities when appropriate.”
Corporate Restructuring
The Company implemented a restructuring program to lower its operating costs to conserve capital. The program includes elimination of approximately one-third of Celsion’s workforce and the deferral of expenses associated with the Company’s Phase II study of ThermoDox® in combination with RFA for the treatment of colorectal liver metastases (The ABLATE Study). Celsion expects these measures to remain in effect until such time as it finalizes its plans for the continuation of its development program with ThermoDox® in HCC. Celsion ended the first quarter of 2013 with approximately $46 million in cash and investments. Ongoing salary costs, net of restructuring costs, are expected to reduce overall operating expenses during the current fiscal year.
“While it is difficult to eliminate positions in our talented and dedicated workforce, this move is necessary to ensure that our costs are adequately aligned with our resources and business strategy,” Mr. Tardugno said. “We are reducing expenses in all areas, but we are doing this with an eye toward limiting the impact on our future development programs for ThermoDox® as well as afford us the opportunity to identify and develop new product candidates.”
Engagement of Financial Advisor to Evaluate Acquisition Alternatives
The Company has engaged Cantor Fitzgerald & Co. to conduct a comprehensive review of merger and acquisition opportunities with the goal of identifying novel products with high potential, or companies, for Celsion to acquire. Strategic alternatives the Company may pursue could include, but are not limited to, continuing its current operating plan, partnering or other collaboration agreements, acquisition of another company’s business or assets, or a merger or other strategic transaction. There can be no assurance that the exploration of strategic alternatives will result in any agreements or transactions, or that, if completed, any agreements or transactions will be successful or on attractive terms. The Company does not intend to disclose developments with respect to this process except as required under applicable securities regulations.
About Celsion Corporation
Celsion is dedicated to the development and commercialization of innovative cancer drugs, including tumor-targeting treatments using focused heat energy in combination with heat-activated liposomal drug technology. Celsion has research, license or commercialization agreements with leading institutions, including the National Institutes of Health, Duke University Medical Center, University of Hong Kong, the University of Pisa, the UCLA Department of Medicine, the Kyungpook National University Hospital, the Beijing Cancer Hospital and the University of Oxford. For more information on Celsion, visit our website: http://www.celsion.com.
Celsion wishes to inform readers that forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials; the significant expense, time, and risk of failure of conducting clinical trials; HEAT Study data is subject to further verification and review by the HEAT Study Data Management Committee; the need for Celsion to evaluate its future development plans; termination of the Technology Development Contract or collaboration between Celsion and HISUN at any time; possible acquisitions or licenses of other technologies, assets or businesses or the possible failure to make such acquisitions or licenses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Celsion ‘s periodic reports and prospectuses filed with the Securities and Exchange Commission. Celsion assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
Investor Contact
Jeffrey W. Church
Sr. Vice President – Corporate
Strategy and Investor Relations
609-482-2455
jchurch@celsion.com
Superconductor Tech (SCON) Announces the Receipt of Purchase Orders
AUSTIN, Texas, April 23, 2013 (GLOBE NEWSWIRE) — Superconductor Technologies Inc. (STI) (Nasdaq:SCON), a world leader in the development and production of high temperature superconducting (HTS) materials and associated technologies, announces that it has recently received purchase orders from multiple customers for its Conductus® 2G HTS wire. The backlog from these purchase orders along with other wire shipments that STI has committed to as of April 15, 2013 are expected to exhaust production capacity until at least the third quarter of 2013.
“Over the last quarter, we have experienced a significant increase in the number of customers placing orders for Conductus wire to complete their product evaluations,” stated Adam Shelton, STI’s VP of Marketing and Product Line Management. “Several industry leading, multinational companies have submitted purchase orders for wire to qualify in their product designs. This noticeable increase in demand is primarily from customers who are currently selling superconducting devices for emerging smart grid applications. With an embedded base in the legacy utility networks, our customers are well positioned to address the needs of the developing Smart Grid applications on a global scale.”
STI has been aligning its 2013 production output with requirements from strategic target customers who are committed to the commercialization of superconducting devices. Areas of high customer demand for smart grid devices include superconducting fault current limiters (SFCLs), high power transmission and distribution cables, and high-field magnets used in multiple applications.
Shelton continued, “As we continue to achieve greater performance and produce longer lengths of Conductus wire, our customers are securing our available capacity in order to receive sufficient quantities to qualify and standardize Conductus wire for deployment in their devices. STI’s near-term capacity is driven by the output of our pilot production RCE-CDR equipment that is designed to produce up to 100 meter wire lengths of HTS wire. While kilometer length production remains necessary to attain the expected commercial quantities, many superconducting applications like SFCLs and high-field magnets utilize sub-100 meter lengths of HTS wire. Several superconducting device designs utilize hundreds of HTS coils that are stacked in columns to form a conductor bank.
“Our RCE-CDR HTS wire manufacturing process provides the unique capability to produce Conductus wire in wide widths of up to 100 millimeters. While current wire suppliers can attain widths of 3 to 10 millimeters, our new pilot production equipment is capable of producing wire 10 times that width, which enables higher performance in the short lengths utilized for SFCL and other applications.”
About Superconductor Technologies Inc. (STI)
Superconductor Technologies Inc., headquartered in Austin, TX, has been a world leader in HTS materials since 1987, developing more than 100 patents as well as proprietary trade secrets and manufacturing expertise. For more than a decade, STI has been providing innovative interference elimination and network enhancement solutions to the commercial wireless industry. The company is currently leveraging its key enabling technologies, including RF filtering, HTS materials and cryogenics to develop energy efficient, cost-effective and high performance second generation (2G) HTS wire for existing and emerging power applications, to develop applications for advanced RF wireless solutions and innovative adaptive filtering, and for government R&D. Superconductor Technologies Inc.’s common stock is listed on the NASDAQ Capital Market under the ticker symbol “SCON.” For more information about STI, please visit http://www.suptech.com.
Safe Harbor Statement
Statements in this press release regarding our business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Forward-looking statements are not 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. These factors and uncertainties include, but are not limited to: our limited cash and a history of losses; the limited number of potential customers; the limited number of suppliers for some of our components and our HTS wire; there being no significant backlog from quarter to quarter; our market being characterized by rapidly advancing technology; overcoming technical challenges in attaining milestones to develop and manufacture commercial lengths of our HTS wire; customer acceptance of our HTS wire; fluctuations in product demand from quarter to quarter; the impact of competitive filter products, technologies and pricing; manufacturing capacity constraints and difficulties; our ability to raise sufficient capital to fund our operations (whether through our equity sales agreement, registered direct offerings or otherwise), and the impact on our strategic wire initiative of any inability to raise such funds; the impact of any such financing activity on the level of our stock price; our ability to fully utilize our equity sales agreement as a source of future financings and the dilutive impact of any sales under such agreement, whether due to market conditions, our ability to satisfy various conditions required to sell shares under the agreement, the sales agent’s performance of its obligations under the agreement or otherwise; the impact on the level of our stock price, which may decline, in connection with the sales under the equity sales facility, registered direct offerings or otherwise; and local, regional, and national and international economic conditions and events and the impact they may have on us and our customers, such as the current worldwide recession.
Forward-looking statements can be affected by many other factors, including, those described in the “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of STI’s Annual Report on Form 10-K for the year ended December 31, 2012 and in STI’s other public filings. These documents are available online at STI’s website, www.suptech.com, or through the SEC’s website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.
CONTACT: Investor Relations Contact Cathy Mattison or Kirsten Chapman LHA +1-415-433-3777 invest@suptech.com
(DARA) and HELSINN Announce U.S. Launch of Gelclair
RALEIGH, NC and LUGANO, SWITZERLAND–(Marketwired – April 22, 2013) – DARA BioSciences, Inc. (NASDAQ: DARA), a specialty pharmaceutical company focused on oncology and oncology supportive care products, and the Swiss pharmaceutical Helsinn Group, a leading player in the cancer supportive care arena, announced today that DARA has reintroduced Gelclair® into the U.S. market. Gelclair is manufactured by the Helsinn Group and is an FDA-cleared product indicated for the treatment of oral mucositis.
Oral mucositis is a painful inflammation and ulceration of the surface of the mouth and throat, which can result from a variety of cancer treatments, including radiation therapy and chemotherapy. Gelclair provides oral mucositis patients rapid and effective relief of pain. Oral mucositis is common in cancer patients undergoing chemotherapy or radiation therapy and occurs when the protective oral mucosa is denuded, potentially resulting in pain, infection, weight loss, decreased quality of life, treatment delay and increased economic costs.
David J. Drutz, MD, DARA’s chief executive officer and chief medical officer, stated, “We are thrilled to be launching Gelclair®, our third product into the U.S. market, having recently introduced Soltamox® (tamoxifen citrate) oral solution, the first and only liquid version of tamoxifen citrate. We believe this underpins our mission of becoming a leader in the oncology and oncology supportive care market and exemplifies our commitment to executing against our corporate plan.”
Helsinn Group Chief Executive Officer, Riccardo Braglia, said, “We are pleased that DARA is launching Gelclair® in the United States and importantly, that U.S. patients will again be able to benefit from this treatment. We believe this is an important milestone in building the long-term relationship between our companies. It will also add the most important market worldwide to the other 30 where Gelclair is already marketed in Europe, Latin America and Asia.”
Internally conducted market research involving over 100 oncology physicians and nurses indicated strong familiarity with the Gelclair brand from its earlier presence in the U.S. market; a continuing preference for Gelclair over other products used to treat oral mucositis; and the likelihood that Gelclair would be prescribed in the majority of cases requiring an oral coating agent — twice as frequently as the next available option.
To ensure patients and health care providers receive the highest level of satisfaction, DARA has instituted, in partnership with Onco360, a specialty single point of contact model, the Gelclair Access Program, to provide product access and affordability for patients together with ease of prescribing for health care providers.
Onco360 is an oncology pharmaceutical services company that features Board Certified Oncology Pharmacists (BCOP), and is dedicated to advancing the continuum of pharmaceutical cancer care for patients. Onco360 provides services to more than 1800 oncologists; 43 major BlueCross/BlueShield programs; commercial, Medicare, and Medicaid managed care payers; hospital systems; and several National Comprehensive Cancer Network (NCCN) Centers of Excellence, such as MD Anderson and Roswell Park, through its growing network of certified and JCAHO-accredited OncoMed pharmacies.
“Onco360 has developed specialized supportive care pharmacy programs that present an outstanding pathway for the launch of Gelclair. We are excited to work in partnership with DARA on this product launch by not only running the best in class Gelclair Access Program, to provide excellent service to patients and healthcare providers alike, but to also support Gelclair uptake with our well respected national sales team and proven oncology marketing programs,” stated Burt Zweigenhaft, CEO of Onco360.
Dr. Drutz continued, “Partnering with Onco360, a leader in oncology pharmacy services, is a very important and strategic relationship for DARA, which we believe will enhance the availability and affordability of Gelclair to patients nationwide. Hundreds of thousands of cancer patients suffer from oral mucositis each year. The exclusive agreement with Helsinn for rights to commercialize Gelclair in the U.S. provides us with an important commercial product in an area of significant medical need.”
About Onco360
Founded in 2005, Onco360 (www.onco360.com) has created a unique model to better serve the needs of oncology and hematology physicians, patients, payers, and manufacturers. In its focus to bring together the four major groups involved in the continuum of oncology pharmaceutical care, Onco360 has emerged as a unique and trusted partner. Onco360 executive offices are located in New York, NY and the company is licensed to deliver oncology pharmaceutical services across most of the country. Onco360 currently operates five dispensing pharmacies and provides a comprehensive inventory of oral, injected, and infused cancer therapies, including limited distribution products.
About Helsinn Group
Helsinn is a privately owned pharmaceutical group with headquarters in Lugano, Switzerland, and operating subsidiaries in Ireland, the United States and China. Helsinn’s business model is focused on the licensing of pharmaceuticals, medical devices and nutritional supplement products in therapeutic niche areas. Helsinn is an important player in cancer supportive care. Helsinn Group in-licenses early-to-late stage new chemical entities, completes their development through the performance of pre-clinical /clinical studies and Chemistry, Manufacturing, and Control (CMC) development, and files and attains their market approvals worldwide. Helsinn’s products are out-licensed to its network of local marketing and commercial partners, selected for their deep in-market knowledge and know-how whom Helsinn assists and supports by providing a full range of product and scientific management services, including commercial, regulatory, financial, legal, and medical marketing advice. The active pharmaceutical ingredients and the finished products are manufactured according to the highest quality, safety, and environmental standards at Helsinn’s GMP facilities in Switzerland and Ireland and supplied worldwide to its customers.
Further information on Helsinn Group is available at www.helsinn.com
About DARA BioSciences, Inc.
DARA is a specialty pharmaceutical company focused on the development and commercialization of oncology treatment and supportive care products. DARA has comprehensive commercial coverage across the national oncology market through a series of agreements with a number of specialty pharmacy providers, leading group purchasing organizations (GPOs), retail partners, reimbursement experts, and an industry-leading third-party logistics provider. As part of an integrated national network with annual sales of over $1 billion in cancer therapeutics, DARA has significant commercial scale and capabilities. Its distribution network consists of more than 45,000 retail pharmacies, mail order pharmacies, and long-term care facilities. This provides DARA with established reimbursement and logistics expertise, as well as partnering opportunities with more than 300 sales and marketing personnel uniquely focused on oncology and oncology support products. This comprehensive network of partners is rare if not unique among companies in the oncology supportive care area and provides DARA a strong foundation for product introductions into this underserved market.
DARA increased its focus in oncology through its January 2012 acquisition of Oncogenerix, Inc., which holds the exclusive U.S. marketing rights to Soltamox®, a novel oral liquid formulation of tamoxifen citrate, which is widely used in the treatment and prevention of breast cancer. Soltamox is the only FDA-approved oral liquid version of tamoxifen citrate and fulfills a vital clinical need for patients who cannot tolerate existing solid tablet formulations of this drug. DARA launched Soltamox in October 2012 to coincide with National Breast Cancer Awareness Month. DARA has exclusive U.S. rights to Soltamox through a license from Rosemont Pharmaceuticals, Ltd. Additionally, in June 2012, DARA launched its first product, Bionect®, a topical treatment for skin irritation and burns associated with radiation therapy. DARA has rights to market Bionect in the US oncology/radiology markets under license from Innocutis. DARA also has exclusive U.S. commercial rights to Gelclair®, an FDA-cleared product for the treatment of oral mucositis, which DARA launched in April 2013.
DARA is also developing a cancer-support therapeutic compound, KRN5500, for the treatment of chronic chemotherapy-induced peripheral neuropathy (CCIPN) in patients with cancer. This product is an excellent fit with DARA’s strategic oncology focus, has successfully completed a Phase 2a clinical trial, and has been designated a Fast Track Drug by the FDA. DARA has created an improved, potentially commercializable formulation of this drug and is in active partnering discussions regarding further clinical development. DARA has also submitted an Orphan Drug Application to the FDA for the use of this drug in painful CCIPN.
In addition to its oncology products, DARA’s research and development pipeline includes DB959, a novel, non-TZD dual delta/gamma PPAR agonist for the treatment of type 2 diabetes and dyslipidemia. DARA has completed Phase 1 testing of DB959 and is presently pursuing opportunities to out-license this product. For more information please visit our web site at www.darabio.com.
Safe Harbor Statement
All statements in this news release that are not historical are forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are subject to factors that could cause actual results to differ materially for DARA from those projected. Those factors include risks and uncertainties relating to DARA’s ability to timely commercialize and generate revenues or profits from Bionect®, Soltamox®, Gelclair® or other products given that DARA only recently hired its initial sales force and DARA’s lack of history as a revenue-generating company, FDA and other regulatory risks relating to DARA’s ability to market Bionect, Soltamox, Gelclair or other products in the U.S. or elsewhere, DARA’s ability to develop and bring new products to market as anticipated, DARA’s current cash position and its need to raise additional capital in order to be able to continue to fund its operations, the current regulatory environment in which DARA develops and sells its products, the market acceptance of those products, dependence on partners, successful performance under collaborative and other commercial agreements, competition, the strength of DARA’s intellectual property and the intellectual property of others, the potential delisting of DARA’s common stock from the NASDAQ Capital Market, risks and uncertainties relating to DARA’s ability to successfully integrate Oncogenerix and other risk factors identified in the documents DARA has filed, or will file, with the Securities and Exchange Commission (“SEC”). Copies of DARA’s filings with the SEC may be obtained from the SEC Internet site at http://www.sec.gov. DARA expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in DARA’s expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. DARA BioSciences and the DARA logo are trademarks of DARA BioSciences, Inc.
CONTACTS:
For DARA BioSciences
Jenene Thomas
Head of Investor Relations
+1-908-938-1475
jthomas@darabio.com
For Helsinn Group
Paola Bonvicini
Head of Communication & Press Office
PH +41 91-985-21-21
Info-hhc@helsinn.com
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