Archive for May, 2015
(INVT) to Present at Upcoming Spring Investor Conferences
– B. Riley Investor Conference: May 12th – 14th in Los Angeles – 2015 Marcum MicroCap Conference: May 27th – 28th in NYC – SeeThru Equity 4th Annual Microcap Investor Conference: May 28th in NYC
CAMPBELL, CA–(May 7, 2015) – Inventergy Global, Inc. (NASDAQ: INVT) (“Inventergy”), today announced that its Chairman and CEO Joe Beyers will be presenting at the following upcoming Spring Investor Conferences in May 2015.
Event: 16th Annual B. Riley & Co. Investor Conference
Location: Loews Hollywood Hotel, Los Angeles
Date: May 12, 2015
Time: 8:00 AM (PT)
Webcast: http://www.brileywebcast.com/viewwebcasts/profile.php?ticker=INVT
Event: 2015 Marcum MicroCap Conference
Location: Grand Hyatt, NYC
Date: May 27, 2015
Time: 3:00 PM (ET)
Event: SeeThru Equity 4th Annual Microcap Investor Conference
Location: Convene Grand Central, NYC
Date: May 28, 2015
Mr. Beyers will deliver a presentation in which he will provide an overview of Inventergy’s business highlights and updates on the Company. In addition to the presentation, Mr. Beyers will also be available for one-on-one meetings.
To arrange a meeting with management, please contact Robert Haag at invt@irthcommunications.com or 1-866-976-4784.
About Inventergy Global, Inc.
Inventergy Global, Inc. is a Silicon Valley-based intellectual property company dedicated to identifying, acquiring and licensing the patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, Inventergy leverages decades of corporate experience, market and technology expertise, and industry connections to assist Fortune 500 companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy Global, visit www.inventergy.com.
For further investor and media information contact:
Robert Haag
Managing Partner, Investor Relations
IRTH Communications
invt@irthcommunications.com
1-866-976-4784
(ZSPH) to Present at Bank of America Merrill Lynch 2015 Health Care Conference
REDWOOD CITY, Calif., May 6, 2015 — ZS Pharma, Inc. (Nasdaq:ZSPH), a biopharmaceutical company focused on the development and commercialization of highly selective, non-absorbed drugs to treat renal, cardiovascular, liver and metabolic disorders, today announced that management will present at the Bank of America Merrill Lynch 2015 Health Care Conference at the Encore-Wynn Hotel in Las Vegas, Nevada on Wednesday, May 13, 2015, at 1:40 p.m. Pacific Time. The presentation will be webcast live and available for replay from ZS Pharma’s website at http://www.zspharma.com in the Investor Relations section. A replay of the webcast will be available on the Company’s website for 30 days following the live event.
About ZS Pharma
ZS Pharma is a publicly traded (Nasdaq:ZSPH), biopharmaceutical company with offices in Redwood City, California and Coppell, Texas. ZS Pharma’s lead therapeutic candidate, ZS-9 (sodium zirconium cyclosilicate), is an investigational treatment for hyperkalemia that is being evaluated in late-stage clinical trials to demonstrate its ability to safely and effectively remove excess potassium from the blood and maintain normal potassium levels. ZS Pharma is also pursuing the discovery of additional drug candidates that utilize its novel selective ion-trap technology for the treatment of kidney and liver diseases. Additional information about ZS Pharma is available at www.zspharma.com.
CONTACT: ZS Pharma Contacts Adam Tomasi (Investors) ZS Pharma 650.458.4100 atomasi@zspharma.com Denise Powell (Media) Red House Consulting 510.703.9491 denise@redhousecomms.com
(ADXS) Appoints Thomas W. Hare Vice President, Clinical Operations
Former Vice President, Drug Development Operations for Incyte Corp. and Clinical Manager/Senior Scientist for Bristol-Myers Squibb to Spearhead Advaxis’s Clinical Operations as Company Advances Multiple Clinical Programs
PRINCETON, N.J., May 6, 2015 — Advaxis, Inc. (Nasdaq:ADXS), a clinical-stage biotechnology company developing cancer immunotherapies, today announced that it has appointed Thomas W. Hare as Vice President, Clinical Operations. Mr. Hare brings to Advaxis more than 28 years of experience in the biopharmaceutical and contract research organization industries overseeing the management of global commercial and clinical operations, data management, outsourcing and medical writing groups.
In his role as Vice President, Clinical Operations, Mr. Hare will report to Advaxis’s Executive Vice President, Chief Medical Officer, David J. Mauro, MD, Ph.D., and will oversee clinical operations for the Company’s multiple Lm-LLO cancer immunotherapy clinical programs. Since the beginning of 2015, Advaxis has initiated three new clinical trials, including the combination study involving ADXS-PSA and Merck’s PD-1 checkpoint inhibitor KEYTRUDA® (pembrolizumab). In addition, the Company expects to initiate five additional clinical trials by the end of year to evaluate its Lm-LLO immunotherapy platform. This includes a Phase 3 clinical study of ADXS-HPV for the treatment of high-risk, locally advanced cervical cancer and combination studies involving ADXS-HPV and MedImmune’s investigational anti-PD-L1 immune checkpoint inhibitor, MEDI4736, and Incyte’s investigational oral indoleamine 2,3-dioxygenase 1 (IDO1) inhibitor, epacadostat (INCB24360).
“Adding an individual of Thomas’s expertise as our Vice President, Clinical Operations comes at a pivotal moment for Advaxis as we continue to advance several clinical programs during 2015, including the initiation of five new clinical trials,” said Daniel J. O’Connor, President and Chief Executive Officer of Advaxis. “Thomas brings a wealth of experience overseeing the design, conduct and management of resources for clinical trials. His expertise will be essential as we look to expand our clinical development program, while ensuring we remain on budget and on track. Additionally, and equally significant, Thomas’s prior operational experience with Incyte, should prove synergistic as we progress our combination studies with Incyte, as well as with Merck, and MedImmune.”
Most recently, Mr. Hare served as Vice President, Drug Development Operations for Incyte Corporation. He joined Incyte Corporation in January 2004 and in his role Mr. Hare was responsible for the strategic growth and development of a team, which planned, implemented and managed Phase 1 through Phase III multinational clinical trials in cancer immunotherapy and cancer inflammation clinical trials.
Prior to Incyte, Mr. Hare was Director of Operations at PRA International (now PRA Health Sciences), where he was responsible for forecasting of project revenue, costs and resources, performing financial analysis to insure contract compliance, and developing metrics to measure quality, and managing a team responsible for the on-time and in-budget completion of Phase I through Phase III clinical trials. Previous to PRA International, Mr. Hare served as Vice President, Clinical Operations Division for Premier Research and as Clinical Manager/Senior Clinical Scientist for Bristol Myers-Squibb. Mr. Hare holds a Master of Science, Exercising Physiology and Biomechanics from the University of Delaware.
In connection with his appointment, Mr. Hare received a one-time inducement award of 85,000 restricted shares, of which 21,250 (25%) are fully vested as of the grant date. The remaining shares vest annually over a three-year period. The Company approved the award as an inducement material to Mr. Hare entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
About Advaxis, Inc.
Advaxis is a clinical-stage biotechnology company developing multiple cancer immunotherapies based on its proprietary Lm-LLO platform technology. The Lm-LLO technology, using bioengineered live attenuated Listeria monocytogenes bacteria, is the only known cancer immunotherapy agent shown in preclinical studies to both generate cancer fighting T-cells directed against a cancer antigen and neutralize Tregs and myeloid-derived suppressor cells (MDSCs), that protect the tumor microenvironment from immunologic attack and contribute to tumor growth. Advaxis’s lead Lm-LLO immunotherapy, ADXS-HPV, targets human papillomavirus (HPV)-associated cancers and is in clinical trials for three indications: Phase 2 in invasive cervical cancer, Phase 1/2 in head and neck cancer, and Phase 1/2 in anal cancer. The FDA has granted Advaxis orphan drug designation for each of these three indications. The Company plans to initiate a registrational clinical program for cervical cancer in 2015 and has established licensing partners in India and Asia for commercialization in those regions. Advaxis entered into a clinical trial collaboration with MedImmune, the global biologics research and development arm of AstraZeneca, for a Phase 1/2 immunotherapy study to evaluate the safety and efficacy of MedImmune’s investigational anti-PD-L1 immune checkpoint inhibitor, MEDI4736, in combination with Advaxis’s ADXS-HPV as a treatment for patients with advanced, recurrent or refractory HPV-associated cervical cancer and HPV-associated head and neck cancer.
Advaxis’s second Lm-LLO immunotherapy candidate in clinical testing will be ADXS-PSA, which is being developed to address prostate cancer. Advaxis entered into a clinical trial collaboration agreement with Merck & Co., Inc. (“Merck”), known as MSD outside the United States and Canada, through its subsidiaries, to evaluate the combination of Advaxis’s Lm-LLO cancer immunotherapy, ADXS-PSA, with Merck’s PD-1 checkpoint inhibitor KEYTRUDA® (pembrolizumab). The ongoing clinical trial is designed to evaluate the safety and efficacy of ADXS-PSA as monotherapy and in combination with pembrolizumab in a Phase 1/2 study of patients with previously treated metastatic, castration-resistant prostate cancer.
Advaxis is also developing Lm-LLO immunotherapy ADXS-HER2 to target the HER2 receptor expressing cancers. HER2 is expressed in certain solid-tumor cancers, including osteosarcoma, breast cancer, esophageal, and gastric cancer. ADXS-HER2 has received orphan drug designation by the U.S. Food and Drug Administration (FDA) for the treatment of osteosarcoma. Advaxis is developing ADXS-HER2 for both human and animal-health, and has seen encouraging data in canine osteosarcoma, which is considered a model for human osteosarcoma. Advaxis has licensed ADXS-HER2 and three other immunotherapy constructs to Aratana Therapeutics, Inc. for pet therapeutics.
For more information about our cancer immunotherapies please visit www.advaxis.com.
Forward-Looking Statements
This news release contains forward-looking statements, including, but not limited to: statements regarding Advaxis’s ability to develop the next generation of cancer immunotherapies; the safety and efficacy of Advaxis’s proprietary immunotherapies, ADXS-HPV and ADXS-PSA; and initiation of clinical trials in 2015 involving our Lm-LLO immunotherapy platform. These forward-looking statements are subject to a number of risks, including the risk factors set forth from time to time in Advaxis’s SEC filings, including but not limited to its report on Form 10-K for the fiscal year ended October 31, 2014, which is available at http://www.sec.gov. Advaxis undertakes no obligation to publicly release the result of any revision to these forward-looking statements, which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. You are cautioned not to place undue reliance on any forward-looking statements.
KEYTRUDA is a registered trademark of Merck & Co., Inc.
CONTACT: Company: Advaxis, Inc. Greg Mayes, Executive Vice President and COO mayes@advaxis.com 609.452.9813 ext. 102 Media Contact: Tiberend Strategic Advisors, Inc. Amy S. Wheeler awheeler@tiberend.com 646.362.5750
(VTNR) Subsidiary Leases Churchill County, Nevada Re-Refinery
Vertex Energy, Inc. (NASDAQ:VTNR), an environmental services company that recycles industrial waste streams and off-specification commercial chemical products, announced today that its wholly owned subsidiary, Vertex Refining NV, LLC, has leased a re-refinery plant located in Churchill County, Nevada. The re-refinery plant produces base lubricating oils. The plant was previously leased by Bango Refining, LLC, a subsidiary of Omega Holdings Company LLC. Vertex and Omega Holdings entered into an Asset Purchase Agreement in 2014, which was to close in two parts, the first of which relating to Omega Refining, LLC, closed in May 2014, and the second of which relating to the Churchill County, Nevada facility, failed to close due to Omega Holdings’ inability to perform its closing deliveries under the purchase agreement. The Bango plant was previously leased by Bango Refining, but the lease was recently terminated by the landlord. Vertex Refining NV was able to enter into a lease agreement directly with the landlord. In addition to the lease for the re-refinery, Vertex Refining NV has also entered into two equipment leases relating to equipment used at the plant. Pursuant to the terms of the plant lease and equipment leases, no rental payments are due for calendar 2015, and rental payments for 2016 are payable by Vertex Refining NV in cash or using Vertex restricted common stock. The lease agreements also provide Vertex Refining NV with the right to acquire the plant, and the equipment in question, directly by paying certain pre-negotiated purchase prices.
Benjamin P. Cowart, the Chief Executive Officer and Chairman of Vertex, stated, “We are thrilled that, even though Omega Holdings was unable to complete the second closing of the originally contemplated transactions, we were able to enter into leases that allow us to operate the Churchill County, Nevada plant for no up-front cash. We believe that the cash we will save as a result of the fact that the leases do not require us to pay rent in 2015 will allow Vertex Refining NV to use cash flow from the Bango facility operations to increase volumes and grow revenue at this state of the art facility. The operation of the Churchill County, Nevada plant by Vertex Refining NV is another step in our plan to expand operations to regions outside of the gulf coast region of the United States.”
Additional information regarding the terms of the leases can be found in Vertex’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 4, 2015.
ABOUT VERTEX ENERGY, INC.
Vertex Energy, Inc. (NASDAQ: VTNR) is a leading environmental services company that recycles industrial waste streams and off-specification commercial chemical products. Its primary focus is recycling used motor oil and other petroleum by-product streams. Vertex purchases these streams from an established network of local and regional collectors and generators. Vertex also manages the transport, storage and delivery of the aggregated feedstock and product streams to end users, and manages the re-refining of a portion of its aggregated petroleum streams in order to sell them as higher-value end products. Vertex sells its aggregated petroleum streams as feedstock to other re-refineries and fuel blenders or as replacement fuel for use in industrial burners. The re-refining of used motor oil that Vertex manages takes place at its facility, which uses a proprietary Thermal Chemical Extraction Process (“TCEP”) technology. Vertex collects oil through its H&H Oil in the Texas region and Heartland Petroleum in a four-state region. Based in Houston, Texas, Vertex also has offices in California, Chicago, Illinois, Columbus, Ohio and Georgia. More information on Vertex can be found at www.vertexenergy.com.
This press release may contain forward-looking statements, including information about management’s view of Vertex Energy’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Vertex Energy, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Vertex Energy files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Vertex Energy’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex Energy cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex Energy undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex Energy.
Vertex Energy, Inc.
Marlon Nurse, DM, 212-564-4700
Senior VP – Investor Relations
(ICLD) Awarded $1.5 Million Contract
SHREWSBURY, N.J., May 6, 2015 — InterCloud Systems, Inc. ( the “Company or “InterCloud” ) (Nasdaq:ICLD) a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Functions Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services, announced today a network expansion contract with New York City’s largest provider of family services to provide UC solutions, data networking, network security and professional services for 21 center locations. InterCloud will provide to the family services centers a turnkey implementation including next generation network solutions and services the value of which is over $1.5 Million with work to begin immediately.
V.P. of Sales, Joe Scotti stated: “We are pleased to report the continuation and expansion of our relationship with this family services provider. Our teams performance and execution during the first phase of network expansion was key in the award of this expansion project. This brings our total revenue for this health services provider to over $4 Million and is a testament to our product portfolio and engineering services capabilities. Our team continues to sign new business and grow existing accounts.”
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Function Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud offers cloud and managed services, professional consulting and staffing services, and infrastructure and applications to assist its customers in meeting their changing technology demands. InterCloud’s cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud’s website at www.intercloudsys.com.
Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
CONTACT: Investor Relations InterCloud Systems, Inc. 561-988-1988
(FATE) & Juno Therapeutics Announce Strategic Research Collaboration
Alliance Utilizes Fate’s Hematopoietic Cell Programming Platform to Identify Small Molecule Modulators for Juno’s Leading Genetically-Engineered T Cell Immunotherapies
SEATTLE and SAN DIEGO, May 6, 2015 — Juno Therapeutics, Inc. (Nasdaq:JUNO) and Fate Therapeutics, Inc. (Nasdaq:FATE) announced today that they have executed a strategic research collaboration and license agreement to identify and utilize small molecules to modulate Juno’s genetically-engineered T cell product candidates to improve their therapeutic potential for cancer patients. The collaboration brings together Juno’s industry-leading expertise in the development of chimeric antigen receptor (CAR) and T cell receptor (TCR) based cellular immunotherapies and Fate’s innovative platform for programming the biological properties and in vivo therapeutic potential of hematopoietic cells.
“A deep understanding of T cell biology is the basis of Juno’s approach to creating best-in-class cellular immunotherapies,” said Hans Bishop, Chief Executive Officer of Juno Therapeutics. “Partnering with Fate Therapeutics, and accessing its strong science and leading platform for modulating the properties of immunological cells, enables interrogation of new avenues of T cell manipulation and provides an opportunity to enhance the therapeutic profile of our genetically-engineered T cell product candidates.”
Through the four-year research and development collaboration, Fate will be responsible for screening and identifying small molecules that modulate the biological properties of engineered T cells. Juno will be responsible for the development and commercialization of engineered T cell immunotherapies incorporating Fate’s small molecule modulators. Juno has the option to extend the exclusive research term for two years through an additional payment and continued funding of collaboration activities.
“We are excited to establish this strategic alliance with Juno, a company that shares our deep commitment to developing transformative cellular therapeutics for patients afflicted with life-threatening disorders,” said Christian Weyer, M.D., M.A.S., President and Chief Executive Officer of Fate Therapeutics. “This partnership exemplifies the extension of our small molecule programming platform to additional hematopoietic cell types, such as T cells, as we continue to build and advance our innovative pipeline of programmed hematopoietic cellular therapeutic candidates.”
Financial terms of the agreement include an upfront payment to Fate of $5 million and the purchase by Juno of one million shares of Fate common stock at $8.00 per share. Juno will fund all mutual collaboration activities for an exclusive four-year research term. For each product developed by Juno that incorporates modulators identified through the collaboration, Fate is eligible to receive approximately $50 million in target selection fees and clinical, regulatory and commercial milestones, as well as low single-digit royalties on sales. Fate retains exclusive rights to its intellectual property for all purposes outside of programmed CAR and TCR immunotherapies.
About Chimeric Antigen Receptor (CAR) Technology
Juno’s chimeric antigen receptor (CAR) technology genetically engineers T cells to recognize and kill cancer cells. Juno’s CAR T cell technology inserts a gene for a particular CAR into the T cell, enabling it to recognize cancer cells based on the expression of a specific protein located on the cell surface. When the engineered T cell engages the target protein on the cancer cell, it initiates a cell-killing response against the cancer cell.
About Cell Programming
Since its founding, Fate Therapeutics has been dedicated to programming the function of cells ex vivo to improve their therapeutic potential. Using advanced molecular characterization tools and technologies, Fate’s platform enables the identification of small molecule or biologic modulators that promote rapid and supra‑physiologic activation or inhibition of therapeutically‑relevant genes and cell‑surface proteins, such as those involved in the homing, proliferation and survival of hematopoietic stem cells or those involved in the persistence, proliferation and reactivity of immunological cells. Fate utilizes its deep understanding of the hematopoietic system to rapidly assess and quantify the therapeutic potential of programmed hematopoietic cells in vivo, and applies its modulators to maximize the safety and efficacy of hematopoietic cellular therapeutics.
About Juno Therapeutics, Inc.
Juno Therapeutics is building a fully integrated biopharmaceutical company focused on revolutionizing medicine by re-engaging the body’s immune system to treat cancer. Founded on the vision that the use of human cells as therapeutic entities will drive one of the next important phases in medicine, Juno is developing cell-based cancer immunotherapies based on chimeric antigen receptor and high-affinity T cell receptor technologies to genetically engineer T cells to recognize and kill cancer. Juno is developing multiple cell-based product candidates to treat a variety of B-cell malignancies as well as solid tumors. Several product candidates have shown compelling evidence of tumor shrinkage in the clinical trials in refractory leukemia and lymphoma conducted to date. Juno’s long-term aim is to improve and leverage its cell-based platform to develop new product candidates that address a broader range of cancers and human diseases. Juno brings together innovative technologies from some of the world’s leading research institutions, including the Fred Hutchinson Cancer Research Center, Memorial Sloan Kettering Cancer Center, Seattle Children’s Research Institute, and The National Cancer Institute.
About Fate Therapeutics, Inc.
Fate Therapeutics is a clinical-stage biopharmaceutical company engaged in the development of programmed cellular therapeutics for the treatment of severe, life-threatening diseases. The Company’s approach utilizes established pharmacologic modalities, such as small molecules, to program the fate and function of cells ex vivo. The Company’s lead product candidate, PROHEMA®, is an ex vivo programmed hematopoietic cellular therapeutic, which is currently in clinical development for the treatment of hematologic malignancies and rare genetic disorders in patients undergoing hematopoietic stem cell transplantation (HSCT). The Company is also using its proprietary induced pluripotent stem cell platform to develop ex vivo reprogrammed hematopoietic and myogenic cellular therapeutics. Fate Therapeutics is headquartered in San Diego, CA. For more information, please visit www.fatetherapeutics.com.
Juno Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the impact, benefits, timing, conduct, and funding of collaboration between Juno and Fate, as well as the capabilities, expertise, and responsibilities of each. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to, risks associated with: the success, cost, and timing of Juno’s product development activities and clinical trials, and Juno’s ability to finance these activities and trials; Juno’s ability to obtain regulatory approval for and to commercialize its product candidates; Juno’s ability to establish a commercially-viable manufacturing process and manufacturing infrastructure; regulatory requirements and regulatory developments; success of Juno’s competitors with respect to competing treatments and technologies; Juno’s dependence on third-party research institution collaborators and other contractors in Juno’s research and development activities, including for the conduct of clinical trials and the manufacture of Juno’s product candidates; Juno’s ability to obtain, maintain, or protect intellectual property rights related to its product candidates; amongst others. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Juno’s business in general, see Juno’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2015 and Juno’s other periodic reports filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Juno disclaims any obligation to update these forward-looking statements.
Fate Therapeutics Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s ability to identify and evaluate small molecule modulators for the programming of T cells, the Company’s plans to undertake certain preclinical research on the therapeutic potential of programmed T cells, our expectations regarding the clinical effectiveness and safety of programmed T cell therapeutics, including CAR and TCR products developed through the collaboration, and the potential benefits of the collaboration, including expected funding and payments to be received under the collaboration. These and any other forward-looking statements in this release are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that we are unable to conduct or complete activities required under the collaboration, the risk of cessation or delay of any development activities under the collaboration for a variety of reasons (including any difficulties or delays in identifying modulators for the programming of T cells, and any adverse effects or events or other negative results that may be observed in clinical development of any product candidates developed through the collaboration), and the risk that funding and payments received under the collaboration may be less than expected. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the risks and uncertainties detailed in the Company’s periodic filings with the Securities and Exchange Commission, including but not limited to the Company’s Form 10-K for the year ended December 31st, 2014, and from time to time the Company’s other investor communications. We are providing the information in this release as of this date and do not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
CONTACT: Juno Therapeutics Contacts Investor Relations: David Walsey, W2O Group dwalsey@w2ogroup.com, 858-617-0772 Media: Julie Normart, W2O Group jnormart@w2ogroup.com, 415-946-1087 Fate Therapeutics Contact Jesse Baumgartner, Stern Investor Relations, Inc. 212.362.1200, jesse@sternir.com
(PTBI) Announces Agreement to Acquire Abeona Therapeutics
DALLAS, TX and CLEVELAND, OH and NEW YORK, NY–(May 06, 2015) –
- Company is well positioned to execute on its strategy to become a leader in cell therapy and gene therapy for rare diseases
- Abeona’s preclinical studies have demonstrated promising efficacy in cognitive function, motor, and survival in Sanfilippo Syndrome (MPS IIIA and MPS IIIB)
- Two Phase 1/2 clinical trials for ABX-101 (MPS IIIB) and ABX-102 (MPS IIIA) for Sanfilippo Syndrome to commence in 2015
PlasmaTech Biopharmaceuticals, Inc. (NASDAQ: PTBI), a biopharmaceutical company advancing protein biologic therapies and oncology supportive care products, announced today that it has entered into a definitive agreement to acquire Abeona Therapeutics, a company engaged in the development and commercialization of therapies for patients with lysosomal storage diseases. Under the terms of the agreement, the Company will issue to Abeona Therapeutic members a total of 3,979,761 common shares upon closing of the transaction, and up to an additional $9 million in performance milestones, in common stock or cash, at the Company’s option.
“We believe this acquisition represents an exciting cornerstone of our strategy to build a world class cell and gene therapy company focused on rare diseases,” noted Steven H. Rouhandeh, PlasmaTech’s Executive Chairman. “Abeona’s programs in MPS IIIB & IIIA address a compelling unmet medical need with breakthrough technology and fundamental core competencies to develop products and accelerate value for patients and shareholders. This acquisition will accelerate development and internationalization of both clinical programs due to increased access to capital and organizational capabilities. Importantly, the Abeona operating and scientific teams will remain intact and we believe Tim Miller’s unique blend of experience and capabilities makes him ideal to move the company forward towards our goal of becoming a leader in rare diseases. Additionally, Abeona recently closed on $4.8 million in financing from leading Sanfilippo Foundations worldwide, and have an additional $1 million commitment for manufacturing.”
In connection with the acquisition, Tim Miller, Ph.D., President & CEO of Abeona will succeed Scott Schorer. “Tim Miller brings significant experience and leadership in developing and commercializing novel cell and gene therapies,” said Steven H. Rouhandeh, Executive Chairman of PlasmaTech. “We want to thank Scott Schorer for his service as PlasmaTech’s Chief Executive Officer, and look forward to his continued contributions to the Alpha-1 program as a consultant to the Company.”
“We are excited about building the future together, and believe this is just the first of many steps to building a comprehensive product pipeline in the rare disease space. PlasmaTech is currently developing a new generation plasma processing technology which enables and validates orphan proteins requiring periodic treatments,” noted Dr. Tim Miller. “We will continue to build on these strengths and capabilities, while executing on our world class gene therapy platform to address pressing rare diseases such as Sanfilippo syndrome.” To learn more about Abeona, please click on the following link for a Web Interview with Tim Miller: https://vimeo.com/126837840.
Abeona Therapeutics is developing gene therapies for patients with rare genetic diseases, with initial therapies being developed for patients with Sanfilippo syndromes (MPS III). The Company was formed in early 2013 to help focus the search for a cure for Sanfilippo Syndrome and provide a unifying voice between patient advocate groups, researchers, clinicians and investors. Dr. Miller, a co-founder, has over 16 years of scientific research, product development, clinical operations and business development expertise, with a focus on transitioning novel biotherapeutics through pre-clinical development and into Phase 1 and 2 human clinical trials. Previously with Juventas Therapeutics, SironRX Therapeutics, and Copernicus Therapeutics, Dr. Miller has focused on gene therapy and regenerative medicine. During his career, he has worked on therapies in cystic fibrosis, cardiovascular disease, wound healing, scar prevention and Sanfilippo syndromes. Dr. Miller has managed all aspects of biotechnology business development, manufacturing of biologics, and multiple clinical programs from start-up and has direct experience engaging Food and Drug Administration (FDA) and NIH advisory agencies on multiple Investigational New Drug (IND) submissions.
“We want to thank our supporting foundations and patient advocates, who have demonstrated that their voice is a critical component of accelerating rare disease programs,” said Dr. Miller. Abeona Investors include U.S.-based Cure Sanfilippo Foundation, Sanfilippo Research Foundation, Team Sanfilippo, the Abby Grace Foundation, the National MPS Society, The Children’s Medical Research Foundation, Inc., and the Ryan Foundation. Abeona has strong international support from the international Sanfilippo community, with investments from Spain-based Stop Sanfilippo and Sanfilippo B Foundation, Geneva, Switzerland-based Fondation Sanfilippo, Australian-based Sanfilippo Children’s Foundation and Mexico-based Red Sanfilippo Foundation. Support for the program has also been provided by the Canadian led Sanfilippo Children’s Research Foundation (SCRF).
The Board of Directors of PlasmaTech Biopharmaceuticals and the Managers of Abeona have unanimously approved the transaction. The transaction is expected to close in the second quarter of 2015, subject to customary closing conditions.
About Alpha-1 Deficiency and SDF™ Process: The global market for drugs derived from human blood plasma fractionation is currently estimated to be greater than US$15 billion and growing at a rate close to 10% annually. Despite this significant market opportunity, limited innovation in fractionation technology has occurred in decades. PTBI has developed and patented a new extraction process for plasma biologics that may fundamentally change the economics of blood plasma fractionation, and is expected to make possible the extraction of several additional therapeutically useful plasma proteins. The Company believes that PlasmaTech’s proprietary fractionation process is expected to significantly enhance yields of specific high-value proteins, including alpha-1 antitrypsin, expanding market opportunities while greatly enhancing margins. The Company believes that PlasmaTech’s lead product opportunity, alpha-1 antitrypsin (“AAT”), will offer a potentially high revenue, short time-to-market respiratory product for treatment of inherited COPD, or alpha-1 antitrypsin deficiency (“AATD”), among other indications. In addition, the SDF process is expected to produce higher yields of other high-value proteins with significant therapeutic benefit.
About PlasmaTech: PlasmaTech is a biopharmaceutical company focused on advancing protein biologic therapies and oncology supportive care products. Exploiting two proprietary platforms, Salt Diafiltration (SDF™) Process and Polymer Hydrogel Technology (PHT™), PlasmaTech is active in the development and commercialization of human plasma-derived therapeutics, including its proprietary alpha-1 protease inhibitor, SDF Alpha™. The company has developed a robust product pipeline that includes two commercial stage products, MuGard® and ProctiGard™, with additional follow-on products in development. For more information, visit www.plasmatechbio.com.
About Abeona Therapeutics: Abeona was formed in early 2013 to help focus the search for a cure for Sanfilippo Syndrome and provide a unifying voice between patient advocate groups, researchers, clinicians and investors. Abeona Therapeutics is the result of collaborative efforts between scientists, clinicians and multiple international patient advocate groups for developing Sanfilippo therapies. The collaboration has helped focus parents and caregivers on a leading therapy with broad potential to provide long-term benefits to children with Sanfilippo Syndrome. Clinical trials for Sanfilippo types A and B are anticipated to begin in mid-2015.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include, without limitation, those relating to: the Company’s proposed acquisition of Abeona, anticipated acceleration in the development and internationalization of clinical programs, information regarding the future performance of the combined company, the outlook on medical needs, future pipeline expectations, management plans for the Company, the anticipated closing of the transaction, and general business outlook. These statements are subject to numerous risks and uncertainties, including but not limited the satisfaction of closing conditions for the transaction, the parties’ ability to successfully integrate and operate the new company, and achieve expected synergies and other benefits; the impact of competition; the ability to develop products and technologies; the ability to achieve or obtain necessary regulatory approvals; the impact of changes in the financial markets and global economic conditions; and other risks as may be detailed from time to time in the Company’s Annual Reports on Form 10-K and other reports filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligations to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result of new information, future developments or otherwise.
Company and Media Contact:
Andre’a Lucca
Director of Communications
PlasmaTech Biopharmaceuticals, Inc.
212-786-6208
alucca@plasmatechbio.com
(AVNW) Signs New Three-Year Turnkey Contract with MTN South Africa
SANTA CLARA, Calif., May 5, 2015 — Aviat Networks, Inc. (NASDAQ: AVNW), the leading expert in microwave networking solutions, today announced a new three-year turnkey agreement with MTN South Africa, part of the MTN Group, which is an existing tier one customer. Aviat will modernize the operator’s mobile backhaul network and expand network services by installing CTR microwave networking solutions.
“The combination of our microwave networking technology and full turnkey service capability was key to securing this business,” says Brian Jakins, Aviat Networks, vice president, sales & services, Africa.
“This supplier agreement with MTN South Africa demonstrates the ways in which mobile operators in Africa have made a return to investing in network backhaul,” says Michael Pangia, CEO and president, Aviat Networks. “Aviat continues to be a trusted partner of many top mobile operators in Africa. We look forward to working with them to modernize their networks.”
About Aviat Networks
Aviat Networks, Inc. (NASDAQ: AVNW) is a leading global provider of microwave networking solutions transforming communications networks to handle the exploding growth of IP-centric, multi-Gigabit data services. With more than 750,000 systems installed around the world, Aviat Networks provides LTE-proven microwave networking solutions to mobile operators, including some of the largest and most advanced 4G/LTE networks in the world. Public safety, utility, government and defense organizations trust Aviat Networks’ solutions for their mission-critical applications where reliability is paramount. In conjunction with its networking solutions, Aviat Networks provides a comprehensive suite of localized professional and support services enabling customers to effectively and seamlessly migrate to next-generation Carrier Ethernet/IP networks. For more than 50 years, customers have relied on Aviat Networks’ high performance and scalable solutions to help them maximize their investments and solve their most challenging network problems. Headquartered in Santa Clara, California, Aviat Networks operates in more than 100 countries around the world. For more information, visit www.aviatnetworks.com or connect with Aviat Networks on Twitter, Facebook and LinkedIn.
Forward-Looking Statements
The information contained in this document includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including statements regarding Aviat’s expectations with respect to its business outlook. All statements identified by the use of forward-looking terminology, including “anticipate,” “believe,” “plan,” “estimate,” “expect,” “goal,” “will,” “see,” “continue,” “delivering,” “view,” and “intend,” or the negative of these terms or other similar expressions, constitute forward-looking statements. These forward-looking statements are based on estimates reflecting the current beliefs of the senior management of Aviat. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Forward-looking statements should therefore be considered in light of various important factors, including those set forth in this document.
For more information regarding the risks and uncertainties for Aviat’s business, see “Risk Factors” in the Form 10-K filed with the Securities and Exchange Commission (“SEC”) on December 19, 2014, as well as other reports filed by Aviat with the SEC from time to time. Aviat undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.
(NLNK) Operational Update & Q1 2015 Financials
Management to Host Conference Call Today at 8:30 a.m. ET
AMES, Iowa, May 5, 2015 — NewLink Genetics Corporation (Nasdaq:NLNK), a biopharmaceutical company focused on bringing novel immuno-oncology medicines to patients with cancer, today reported consolidated financial results for the first quarter of 2015 and progress in its clinical and business development programs.
“NewLink Genetics continued to execute on its immuno-oncology pipeline of products during the first quarter,” said Dr. Charles Link, Chairman and Chief Executive Officer. “On the IDO/TDO front, we have successfully launched both our small molecule research and clinical development teams with Genentech, and we are excited about the progress of this partnership. We also accelerated our hiring and pre-commercial activities relating to algenpantucel-L. Finally, we earned a $20 million milestone payment from Merck Inc. on our investigational rVSV-EBOV (Ebola) vaccine candidate, originally developed by the Public Health Agency of Canada. This vaccine has emerged as the only vaccine currently being tested in two of the three large-scale trials in West Africa.”
“In addition to working toward the second interim analysis of the IMPRESS clinical trial data, we drove the Company’s other key clinical programs forward,” said Dr. Nicholas Vahanian, President and Chief Medical Officer. “We are accelerating enrollment in key clinical trials, including PILLAR, and expanding our manufacturing capacity of algenpantucel-L.”
Program Updates:
HyperAcute® Cancer Immunotherapy Programs
NewLink Genetics’ proprietary cancer immuno-oncology programs may prove to have broad potential across a spectrum of cancer indications, including in combination with checkpoint inhibitors. NewLink Genetics has multiple HyperAcute immunotherapy programs in various stages of clinical development, including pancreatic cancer, lung cancer, and melanoma.
- Algenpantucel-L is NewLink Genetics’ HyperAcute pancreatic cancer immunotherapy candidate in a Phase 3 clinical trial called, IMmunotherapy for Pancreatic RESectable cancer Study, or IMPRESS. The study, evaluating the addition of algenpantucel-L to standard of care therapy after surgery for pancreatic cancer, is fully enrolled and the second interim analysis is expected to be reported in the second quarter of 2015.
- PILLAR, or Pancreatic Immunotherapy with algenpantucel-L for Locally Advanced non-Resectable disease is our Phase 3 clinical trial studying the efficacy of algenpantucel-L in patients with locally advanced pancreatic cancer. The Company continues to expect to complete enrollment in the second half of 2015.
- Tergenpumatucel-L for patients with lung cancer is NewLink Genetics’ HyperAcute lung immunotherapy being tested in a randomized, Phase 2b study in advanced lung cancer. An update on this program will be provided in the second half of 2015.
- Dorgenmeltucel-L for patients with melanoma is being evaluated in a randomized Phase 2 study in combination with ipilimumab vs. ipilimumab alone.
IDO Pathway Inhibitor Program (Proprietary)
We expect to complete enrollment of the following studies with indoximod, our proprietary IDO pathway inhibitor, within the next 12-15 months.
- First is NLG2101, a global randomized Phase 2 trial testing indoximod in combination with docetaxel or paclitaxel in patients with metastatic breast cancer with full enrollment expected by the end of 2015.
- Next is NLG2102, a Phase 1b/2 trial testing indoximod in combination with temozolomide in patients with progressive or refractory glioblastoma. We expect to report results from the Phase 1b portion at a poster presentation (#2070) during the American Society of Clinical Oncology meeting on Monday, June 1, 2015 from 1:15 – 4:45 p.m. CT.
- Then there is NLG2103, a Phase 1b/2 trial testing indoximod in combination with ipilimumab in patients with advanced melanoma. We expect to report Phase 1b top-line results by the end of 2015; and
- Finally, we have NLG2104, a Phase 1b/2 trial testing indoximod in combination with gemcitabine plus nab-paclitaxel in patients with metastatic pancreas cancer. Phase 1b top-line results are expected in 2016.
Financial Results for the Three Month Period Ended March 31, 2015
Cash Position: NewLink Genetics ended the quarter on March 31, 2015, with cash, cash equivalents, and certificates of deposit totaling $214.4 million compared to $202.8 million for the year ending December 31, 2014. The increase was attributable primarily to net proceeds received from the milestone payment from Merck & Co., sales under the Company’s “at the market” facility (ATM), which was completed in the quarter, and amounts received under government contracts.
R&D Expenses: Research and development expenses in the first quarter of 2015 were $18 million compared to $6.4 million during the comparable period in 2014. The increase is primarily due to clinical trial expenses and the manufacturing and research related to the Ebola vaccine candidate.
G&A Expenses: General and administrative expenses in the first quarter of 2015 were $8.4 million compared to $3.3 million during the comparable period in 2014. The increase was primarily due to an increase in share-based compensation expense, as well as increases in consulting and legal fees, and medical affairs and pre-commercial activities.
Net Income/Loss: NewLink Genetics reported net income of $11.2 million or $0.35 per diluted share for the first quarter of 2015 compared to a net loss of $9.2 million or ($0.33) per diluted share for the comparable period in 2014.
NewLink Genetics received approximately $13.5 million in net proceeds from sales under its ATM during the three months ended March 31, 2015 and ended the quarter with 28,517,195 shares outstanding.
Financial Guidance
NewLink Genetics expects to end the year on December 31, 2015, with approximately $160 million in cash, cash equivalents and certificates of deposit. This guidance recognizes that an early halt in the IMPRESS trial for effectiveness would require the need to accelerate organizational development and spending levels.
“We finished the quarter with a strong cash position and the capacity to make the necessary investments to become a commercial biopharmaceutical company,” said Jack Henneman, Executive Vice President and Chief Financial Officer. “Significant investments for the remainder of 2015 will include developing our manufacturing capacity, building our commercialization team, and investments in broadening our pipeline of drug candidates.”
Conference Call
The Company has scheduled a conference call for 8:30 a.m. ET today to discuss the results and to provide an update on clinical and business development activities.
NewLink’s senior management team will host the conference call, which will be open to all listeners. There will also be a question and answer session following the prepared remarks.
Access to the live call is available by dialing (855) 469-0612 (U.S.) or (484) 756-4268 (international) five minutes prior to the start of the call. A replay of the call will be available approximately two hours after the completion of the call and can be accessed by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (international) and using the passcode 31502548. The replay will be available for two weeks from the date of the call.
About NewLink Genetics Corporation
NewLink Genetics is a biopharmaceutical company focused on discovering, developing and commercializing novel immunotherapeutic products to improve treatment options for patients with cancer. NewLink’s portfolio includes biologic and small molecule immunotherapy product candidates intended to treat a wide range of oncology indications. NewLink Genetics’ product candidates are designed to harness multiple components of the immune system to combat cancer without significant incremental toxicity, either as a monotherapy or in combination with other treatment regimens.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements of NewLink that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release are forward-looking statements, within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate, believe, estimate, expect, intend, may plan, target, potential, will could, should, seek” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, statements about: NewLink Genetics’ financial guidance for 2015; enrollment in or results of its clinical trials for product candidates; its timing of release of clinical data from ongoing clinical studies; its plans related to moving additional indications into clinical development; NewLink Genetics’ future financial performance, results of operations, cash position and sufficiency of capital resources to fund its operating requirements; and any other statements other than statements of historical fact. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that NewLink makes due to a number of important factors, including those risks discussed in “Risk Factors” and elsewhere in NewLink Genetics’ Annual Report on Form 10-K for the year ended December 31, 2014 and other reports filed with the U.S. Securities and Exchange Commission (SEC). The forward-looking statements in this press release represent NewLink’s views as of the date of this press release. NewLink anticipates that subsequent events and developments will cause its views to change. However, while it may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing NewLink Genetics’ views as of any date subsequent to the date of this press release.
NewLink Genetics Corporation | ||
Condensed Consolidated Statements of Operations | ||
(unaudited) | ||
(In thousands, except share and per share amounts) | ||
Three Months Ended March 31, | ||
2015 | 2014 | |
Grant revenue | $ 9,649 | $ 334 |
Licensing revenue | 29,546 | — |
Total revenue | 39,195 | 334 |
Operating expenses: | ||
Research and development | 17,981 | 6,387 |
General and administrative | 8,366 | 3,251 |
Income (loss) from operations | 12,848 | (9,304) |
Other income (expense), net | 11 | 68 |
Income (loss) before income taxes | 12,859 | (9,236) |
Income tax expense | (1,669) | — |
Net income (loss) | $ 11,190 | $ (9,236) |
Basic earnings per share | $ 0.40 | $ (0.33) |
Diluted earnings per share | $ 0.35 | $ (0.33) |
Basic average shares outstanding | 28,218,631 | 27,605,910 |
Diluted average shares outstanding | 31,919,318 | 27,605,910 |
NewLink Genetics Corporation | ||
Condensed Consolidated Balance Sheets | ||
(unaudited) | ||
(In thousands, except share and per share data) | ||
Year Ended | ||
March 31, | December 31, | |
2015 | 2014 | |
Assets | ||
Current assets: | ||
Cash, cash equivalents and certificates of deposit | $ 214,369 | $ 202,797 |
Prepaid expenses, advance payments to vendors and other current assets | 22,540 | 12,062 |
Income tax receivable | 14,190 | 15,604 |
Total current assets | 251,099 | 230,463 |
Property and equipment, net | 8,028 | 7,599 |
Total assets | $ 259,127 | $ 238,062 |
Liabilities and Equity | ||
Current liabilities: | ||
Accounts payable and accrued expenses | $ 13,408 | $ 11,779 |
Unearned revenue | 3,478 | 12,966 |
Other current liabilities | 676 | 276 |
Total current liabilities | 17,562 | 25,021 |
Long-term liabilities: | ||
Royalty obligation payable | 6,000 | 6,000 |
Notes payable and obligations under capital leases | 494 | 941 |
Deferred rent | 1,216 | 1,238 |
Unearned revenue, excluding current portion | 1,024 | 1,085 |
Total long-term liabilities | 8,734 | 9,264 |
Total liabilities | 26,296 | 34,285 |
Stockholder’s equity: | ||
Common stock | 285 | 280 |
Additional paid-in capital, net | 254,966 | 236,838 |
Treasury stock, at cost | (491) | (222) |
Retained deficit | (21,929) | (33,119) |
Total equity | 232,831 | 203,777 |
Total liabilities and equity | $ 259,127 | $ 238,062 |
CONTACT: Corporate Contact: Jack Henneman Chief Financial Officer, NewLink Genetics 515-598-2561 Investor@linkp.com Investors: Donna LaVoie LaVoieHealthScience 617-374-8800, ext. 107 dlavoie@lavoiehealthscience.com Media: David Connolly LaVoieHealthScience 617-374-8800, ext. 108 dconnolly@lavoiehealthscience.com
(GTIM) Announces Full Exercise of Over-Allotment Option
Good Times Restaurants Inc. (NASDAQ: GTIM), owner of Good Times Burgers & Frozen Custard, an upscale quick-service restaurant chain focused on fresh, high quality, all natural products located primarily along the front range of Colorado and a licensee of Bad Daddy’s Burger Bar, a full service, “small box” better burger casual dining chain, announced today that the underwriters of its previously announced common stock offering have exercised in full their option to purchase an additional 363,105 shares of Good Times’ common stock to cover over-allotments. The public offering price of the shares is $8.15 per share.
Janney Montgomery Scott LLC and Stephens Inc. are acting as joint book-running managers and Dougherty & Company is acting as lead manager for the offering.
The offering was made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. Shares of the Company’s common stock were offered only pursuant to a prospectus and prospectus supplement that form a part of the registration statement, which are available on the SEC’s website www.sec.gov. A printed copy of the prospectus and prospectus supplement relating to the offering may be obtained by contacting Janney Montgomery Scott LLC, c/o Equity Syndicate, 60 State Street, 35th Floor, Boston, MA 02109, by telephone at 617-557-2971 or by e-mail at prospectus@janney.com; Stephens Inc., c/o The Prospectus Department, by telephone at 501-377-2131 or by e-mail at prospectus@stephens.com; or Dougherty & Company c/o Equity Syndicate, by telephone at 612-317-2152.
This release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About Good Times Restaurants Inc.: Good Times Restaurants Inc. (GTIM) operates Good Times Burgers & Frozen Custard, a regional chain of quick service restaurants located primarily in Colorado, in its wholly owned subsidiary, Good Times Drive Thru Inc. Good Times provides a menu of high quality all natural hamburgers, 100% all natural chicken tenderloins, fresh frozen custard, fresh cut fries, fresh lemonades and other unique offerings. Good Times currently operates and franchises 37 restaurants.
GTIM currently owns and operates Bad Daddy’s Burger Bar restaurants as a licensee thought its wholly owned subsidiary, BD of Colorado LLC. Promptly following completion of the offering, it is expected that GTIM will own Bad Daddy’s International, LLC which is the owner of the Bad Daddy’s Burger Bar concept and also wholly owns four Bad Daddy’s Burger Bar restaurants and partly owns three additional such restaurants. Bad Daddy’s Burger Bar is a full service, upscale, “small box” restaurant concept featuring a chef driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft microbrew beers in a high energy atmosphere that appeals to a broad consumer base.
Good Times Forward Looking Statements: This press release contains forward looking statements within the meaning of federal securities laws. The words “intend,” “may,” “believe,” “will,” “should,” “anticipate,” “expect,” “seek” and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, which may cause the Company’s actual results to differ materially from results expressed or implied by the forward looking statements. These risks include such factors as the uncertain nature of current restaurant development plans and the ability to implement those plans, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the “Risk Factors” section of Good Times’ Annual Report on Form 10-K-A for the fiscal year ended September 30, 2014 filed with the SEC. Although Good Times may from time to time voluntarily update its forward looking statements, it disclaims any commitment to do so except as required by securities laws.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20150505007016/en/
Good Times Restaurants Inc.
Investor Relations Contacts:
Boyd E. Hoback, 303-384-1411
President and CEO
or
Christi Pennington, 303-384-1440
or
Porter, LeVay & Rose
Mike Porter, 212-564-4700
(WPRT) New Mid Range Natural Gas Engine Unveiled at ACT Expo
~ISB6.7 G Natural Gas Engine Targets School Bus, Shuttle Bus, Medium Duty Trucking, and Vocational in North America~
VANCOUVER, May 5, 2015 – At the opening reception at ACT Expo in Dallas, TX, Cummins Westport Inc. will unveil the ISB6.7 G, a 6.7 liter medium-duty, factory built dedicated natural gas engine for school bus, shuttle bus, medium duty truck and vocational applications. The new ISB6.7 G is currently in field trials with full production expected to commence in mid 2016.
The ISB6.7 G natural gas engine is based on the Cummins ISB6.7 diesel engine platform, the industry leader in Cummins medium duty engine family. The ISB6.7 G will operate exclusively on natural gas (CNG or LNG) utilizing Cummins Westport’s proprietary spark-ignited, stoichiometric combustion with cooled exhaust gas recirculation (SEGR) technology, first introduced with the 8.9 liter ISL G.
The ISB6.7 G features three-way catalyst aftertreatment, which is packaged as a muffler and is maintenance- free. No diesel particulate filter or selective catalytic reduction aftertreatment will be required. Preliminary specifications include a range of ratings to 260 hp and 660 lb-ft torque and automatic transmission capability to meet customer and original equipment manufacturer requirements. The ISB6.7 G will be manufactured in Cummins’ medium-duty engine plant in Rocky Mount, North Carolina.
“We are pleased to announce this important product development for Cummins Westport here at ACT Expo, North America’s largest Clean Fleet show,” said Rob Neitzke, President of Cummins Westport. “The ISB6.7 G will offer customers low emissions with diesel like performance, reliability, and durability and a choice of either compressed natural gas or liquefied natural gas as a fuel.”
The ISB6.7 G is expected to be certified at launch to meet the U.S. Environmental Protection Agency and California Air Resources Board emission standards of 0.20 g/bhp-hr NOx and 0.01 g/bhp-hr PM and 2016 U.S. greenhouse gas and fuel economy regulations.
Partial funding in support of the ISB6.7 G engine development has been received from California Energy Commission through its Public Interest Energy Research (PIER) Program in conjunction with the Gas Technology Institute.
About Cummins Westport Inc.
Cummins Westport Inc. designs, engineers and markets 6-12 liter spark-ignited natural gas engines for North American commercial transportation applications such as trucks and buses. Cummins Westport is a joint venture of Cummins Inc. (NYSE:CMI), a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems, and Westport Innovations Inc. (NASDAQ: WPRT / TSX: WPT), a global leader in alternative fuel, low-emissions technologies that allow engines to operate on clean-burning fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen, and biofuels such as landfill gas. www.cumminswestport.com
Note: This document contains forward-looking statements. Forward-looking information is typically identified by words such as “anticipate”, “estimate”, “expect”, “forecast”, “may”, “will”, “could”, “plan”, “intend”, “should”, “believe”, “outlook”, “project”, “potential”, “target” and similar words suggesting future events or future performance. In particular, this press release contains forward-looking information which includes statements regarding the timing of full production of the ISB6.7 G engine. Cummins Westport’s business, operations, markets, technology development, and regarding the environment in which Cummins Westport operates, which are based on Cummins Westport’s estimates, forecasts and projections. These statements are not guarantees of future performance and involve known and unknown risks and uncertainties that are difficult to predict, or are beyond Cummins Westport’s control and are based on assumptions that may cause our actual results, levels of performance, activity or achievement to be materially different from that implied by these forward looking statements. These risks, uncertainties and assumptions include those relating to our industry and products, technological development, demand for natural gas vehicles as well as other risk factors and assumptions. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Cummins Westport disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwiseexcept as may be required by applicable law. The contents of any website referenced in this press release are not incorporated herein by reference.
(CDTI) Announces New Advanced Materials Technology
Initial Benchmarking Shows High Performance With Dramatically Lower PGMs
OXNARD, Calif., May 5, 2015 — Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (“CDTi” or “the Company”), a leader in advanced emission control technology, released preliminary engine and vehicle test results for its new synergized-platinum group metal (SPGM(TM)) diesel oxidation catalyst (DOC) technology. In these initial tests, CDTi’s SPGM(TM) DOC achieved emission control and system performance comparable to a leading original equipment manufacturer (OEM) catalyst product while slashing PGM usage by over 80%. The SPGM DOC technology represents another breakthrough in CDTi’s advanced materials research program aimed at significantly reducing or eliminating the need for costly PGMs in emission control catalysts.
Chris Harris, CDTi’s President and CEO, stated: “Beyond the light duty vehicle market, heavy duty DOCs are a major opportunity for our advanced materials technology. These initial engine and vehicle tests for our SPGM DOC technology are the first in a series of key development milestones. They further demonstrate our ability to invent innovative materials to create significant value propositions in a range of downstream markets. We intend to commercialize our SPGM DOC technology through OEMs and retrofit catalyst suppliers via our powder-to-coat business model as well as incorporate it into our DuraFit(TM) line of diesel replacement parts.”
The DOC is a major component of diesel emission control systems worldwide. Current designs are heavily reliant on high levels of platinum and palladium for conversion of carbon monoxide (CO) and hydrocarbons (HC), and for the oxidation of nitric oxide (NO) to nitrogen dioxide (NO2) to feed the downstream particulate filter and selective catalytic reduction systems. OEMs spent almost $1.0 billion on PGMs for heavy duty diesel vehicle catalysts in 2012 according to information derived from Johnson Matthey PLC’s “Platinum 2013” report. CDTi estimates that the vast majority of this spend was for DOCs.
CDTi’s SPGM DOC technology is expected to be the first of many planned applications of its new powder capability. The Company has filed patents covering its SPGM DOC design that establishes a synergy between its proprietary catalytic powder and extremely low levels of PGM.
“We believe our newest proprietary materials will enable OEMs, industry coaters and other catalyst manufacturers to dramatically reduce PGM usage while meeting more stringent emission requirements. Our large and growing portfolio of low-PGM, SPGM, and zero-PGM (ZPGM(TM)) patents underpins our advanced materials platform. We also expect to report initial vehicle test results on additional new generation catalysts, including Spinel(TM), in the near future,” concluded Harris.
The SPGM DOC was road-tested on an urban transit bus powered by a 2007 Cummins ISL 8.9 liter engine. It had equivalent performance to an EPA certified OEM DOC using only 1.5 grams (4.75 g/ft3) of PGM compared to the OEM catalyst’s 11.0 grams (35 g/ft3). Further benchmark testing was done at an outside facility that demonstrated the SPGM DOC had equivalent performance to the DOC in a Euro VI certified system using 38 g/ft3 (see link to chart below). In addition, an emission control system supplier evaluated CDTi’s SPGM DOC and demonstrated equivalent filter regeneration performance at just 7% of the PGM loading of its current DOC.
Benchmark Testing of Euro VI Certified System
http://media.globenewswire.com/cache/9503/file/33860.pdf
Supplementary technical information on CDTi’s SPGM DOC technology will be available on the company’s website at www.cdti.com/spgmdoc.
About CDTi
CDTi manufactures and distributes vehicle emissions control products that leverage its advanced materials technology. CDTi utilizes its proprietary patented Mixed Phase Catalyst (MPC®) technology and other related technologies to provide high-value sustainable solutions to reduce emissions, increase energy efficiency and lower the carbon intensity of on- and off-road combustion engine systems. Reflecting its continued focus on innovation, CDTi is developing and commercializing proprietary advanced low-platinum group metal (PGM) catalysts including synergized-PGM (SPGM(TM)), as well as zero-PGM (ZPGM(TM)) catalysts. CDTi is headquartered in Oxnard, California and has operations in the U.K., Canada, France, Japan and Sweden. For more information, please visit www.cdti.com.
Forward-Looking Statements
Certain information contained in this press release constitutes forward-looking statements, including any statements that are not statements of historical fact. You can identify these forward-looking statements by the use of the words “believes”, “expects”, “anticipates”, “plans”, “may”, “will”, “would”, “intends”, “estimates”, and other similar expressions, whether in the negative or affirmative. Forward-looking statements are based on a series of expectations, assumptions, estimates and projections which involve substantial uncertainty and risk. In this document, the Company includes forward looking statements regarding goals, opportunities, value propositions, CDTi’s intentions to commercialize technology, planned applications, anticipated benefits of CDTi’s key enabling powder materials and other products and technologies, and expected results and developments. In general, actual results may differ materially from those indicated by such forward-looking statements as a result of risks and uncertainties, including, but not limited, to (i) the failure of SPGM DOC technology to achieve anticipated results; (ii) that the Company may not be able to (a) decrease costs, (b) increase sales, (c) obtain adequate funding, (d) retain or secure customers and dependence on a few major customers, (e) protect its intellectual property, (f) successfully evolve into an advanced materials supplier or, even if successful, increase profitability, (g) successfully market new products; (h) obtain product verification or approvals, (i) attract or retain key personnel, or (j) realize benefits from investments; (iii) prices of PGM and rare earth metals; (iv) royalty and other restrictions on sales in certain Asian countries; (v) supply disruptions or failures; (vi) regulatory, marketing and competitive factors; (vii) environmental harm or damages; and (viii) other risks and uncertainties discussed or referenced in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K. In addition, any forward-looking statements represent the Company’s estimates only as of the date of such statements and should not be relied upon as representing the Company’s estimates as of any subsequent date. The Company specifically disclaims any obligation to update forward-looking statements. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.
CONTACT: Becky Herrick or Cathy Mattison LHA (IR Agency) +1 415 433 3777 bherrick@lhai.com cmattison@lhai.com
(GLNG) Appointed By Ophir as Midstream Partner for Fortuna FLNG
Golar LNG (“Golar”) announced today that it has signed a binding Heads of Terms with Ophir Energy Plc (“Ophir”) for the provision of the GoFLNG vessel Gimi. The Heads of Terms has been approved by Ophir’s Equatorial Guinea, Block-R upstream partner GEPetrol, and will be formally ratified by GEPetrol next week. The agreement will be structured as a 20-year tolling contract, commencing commercial operations in the first half of 2019. Block R’s 2.5 tcf of high purity 2P gas resources, situated in an area of benign sea states, are ideally suited for the application of Golar’s GoFLNG technology.
GoFLNG offers a technically and commercially robust approach to developing Block R reserves, with a competitive tariff directly comparable to the USA Gulf of Mexico brown field LNG projects currently under construction. Ophir and GEPetrol’s selection of Golar to provide the Gimi, is further evidence of the technical and commercial competitiveness of GoFLNG, and the attractions of a short lead-time and lower risk implementation.
Golar with its partners Keppel Shipyard and Black and Veatch committed to the Gimi FLNG conversion in December 2014. Gimi will benefit from utilising the same configuration of utilities and liquefaction facilities as its sister ship Hilli, with variations to accommodate production direct from the deep-water reservoir.
At full production the vessel will have a contracted capacity of 2.2 mtpa of LNG, to be marketed by Ophir and GEPetrol. The project is expected to deliver an EBITDA for Golar in the first full year of operation in the region of $350M. The additional earnings associated with the vessel variations to accommodate deep water production have not been included in this estimate as the contracting strategy for this additional scope has not been finalised. Gimi will be Golar’s second GoFLNG vessel following Hilli, which is scheduled to commence commercial operations in Cameroon during the first half of 2017.
The integrated Ophir/GEPetrol/Golar project is expected to take FID during the first half of 2016 following completion of the upstream FEED study. The short lead-time between signing of the Heads of Terms, and the scheduled commencement of commercial operations once again demonstrates the unprecedented pace possible for GoFLNG projects.
Golar’s CEO Gary Smith commented “Golar is delighted to have secured a contract for our second GoFLNG vessel. This commitment with Ophir and GEPetrol to employ a GoFLNG vessel in Equatorial Guinea represents a further step in the implementation of Golar’s strategy to become the industry’s leading integrated midstream LNG services provider, supporting resource owners, gas producers and gas consumers. Our new approach to developing LNG projects is stimulating significant interest today. Accordingly, Golar has now, based on its framework agreement with Keppel Shipyard, commenced negotiations for the company’s third GoFLNG vessel”.
Nick Cooper, Ophir’s CEO commented “Finalising our midstream partner is a significant step forward for the Fortuna FLNG project. This agreement accelerates first gas date and reduces costs along the value chain. The project has been refined to allow the option to deliver LNG at attractive returns into both Pacific Basin and Atlantic Basin LNG customers. The agreement completes the value chain economics and allows Ophir to confidently plan for first gas, and c. 67,000 boepd of production in 1H 2019.
At a time when many other greenfield LNG projects are decelerating, Ophir has elected to accelerate the Fortuna FLNG Project to secure what it believes will be a better market opportunity at first gas and to lock in anticipated reduced upstream development costs. We will now move immediately into the upstream and midstream FEED with a view to reaching FID by mid-2016.
We are pleased to have secured Golar as a partner; the firm is a leading provider of FLNG solutions and the flexible and competitive commercial terms we have agreed will ensure that the final investment decision can be taken at current LNG prices. Ophir sees many parallels with the oil-equivalent emergence of leased-FPSO’s ca. 25 years ago. This development of re-fitting vessels and leasing them to independent E&P companies both unlocked a series of oil fields and also provided competitive advantage to those early adopters of the technology. Ophir believes that the same is now about to happen for FLNG.”
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Golar undertakes no obligation to update publicly 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 materially from those in the forward-looking statements are: changes in LNG, FSRU and FLNGV market trends, including charter rates, ship values and technological advancements; changes in the supply and demand for LNG; changes in trading patterns that affect the opportunities for the profitable operation of LNG carriers, FSRUs; and FLNGVs; changes in Golar’s ability to retrofit vessels as FSRUs and FLNGVs, Golar’s ability to obtain financing for such retrofitting on acceptable terms or at all and the timing of the delivery and acceptance of such retrofitted vessels; increases in costs; changes in the availability of vessels to purchase, the time it takes to construct new vessels, or the vessels’ useful lives; changes in the ability of Golar to obtain additional financing; changes in Golar’s relationships with major chartering parties; changes in Golar’s ability to sell vessels to Golar LNG Partners LP; Golar’s ability to integrate and realize the benefits of acquisitions; changes in rules and regulations applicable to LNG carriers, FSRUs and FLNGVs; changes in domestic and international political conditions, particularly where Golar operates; as well as other factors discussed in Golar’s most recent Form 20-F filed with the Securities and Exchange Commission. Unpredictable or unknown factors also could have material adverse effects on forward-looking statements.
Hamilton, Bermuda
May 5, 2015
Enquiries:
Golar Management Limited: + 44 207 063 7900
Brian Tienzo
Stuart Buchanan
(BIOC) Expands Oncology Diagnostic Portfolio With Launch of c-MET Biomarker
Biocept’s c-MET Test Enables Physicians and Researchers to Identify Key Biomarker From Liquid Biopsy
SAN DIEGO, May 4, 2015 — Biocept, Inc. (Nasdaq:BIOC), a molecular oncology diagnostics company specializing in biomarker analysis of circulating tumor DNA (ctDNA) and circulating tumor cells (CTCs), today announced the launch of its c-MET amplification detection test utilizing a blood-based “liquid biopsy.” This diagnostic assay has the potential to help physicians identify which patients may be receptive to certain gastric and non-small-cell lung cancer (NSCLC) treatments.
The c-MET signaling pathway has shown to be dysfunctional in a wide variety of cancers. When this is the case, c-MET stimulates cell growth, invasion and metastasis – encouraging cells to resist timely death. Given the role of the c-MET pathway in the proliferation of cancer cells, it is a target for many cancer therapies currently in development.
Preliminary results from a study led by researchers at Massachusetts General Hospital and presented at the 2015 Gastrointestinal Cancers Symposium (GICS) showed that a novel small-molecule c-MET inhibitor showed promise in the treatment of c-MET-amplified GI cancers. In addition to targeting this mechanism in GI cancers, c-MET abnormalities (along with T790M mutations) are recognized as common mechanisms of acquired resistance to epidermal growth factor receptor tyrosine kinase inhibitors (EGFR TKIs) in advanced NSCLC. Biocept launched an assay to detect the presence of T790M mutation in NSCLC patients in January 2015.
“It has been demonstrated that high levels of c-MET correlate with poor prognosis in several tumor types, including breast, ovarian, gastric and lung cancer among others,” said Veena Singh, M.D., SVP and Senior Medical Director of Biocept. “Now the excitement around c-MET is focused on its potential as a biomarker that will be a companion diagnostic for targeted therapies in gastric and lung cancers.”
“The launch of our c-MET assay is consistent with our efforts to dedicate Biocept to transforming the field of personalized medicine,” said Raaj Trivedi, VP of Commercial Operations for Biocept. “As new targets like c-MET grow in their potential as companion diagnostics, obtaining tissue samples to detect the mutation will be challenging for cancers like lung and gastric. Biocept’s blood-based approach to oncology diagnostics avoids patient re-biopsy, allowing for molecular profiling and monitoring of patients with alterations in this key pathway throughout the course of therapy.”
About Biocept
Biocept, Inc., headquartered in San Diego, Calif., is a commercial-stage oncology diagnostics company focused on providing information on patients’ tumors to physicians using its proprietary technology platform to help improve individual patient treatment. Biocept has developed proprietary technology platforms for capture and analysis of circulating tumor DNA, both in CTCs and in plasma (ctDNA). A standard blood sample is utilized to provide physicians with important prognostic and predictive information to enhance individual treatment of their patients with cancer. Biocept currently offers its OncoCEE-GA™ test for gastric cancer, OncoCEE-BR™ test for breast cancer and OncoCEE-LU™test for non-small cell lung cancer and plans to introduce CLIA validated tests for colorectal, prostate and other solid tumors based on its proprietary technology platforms over the coming months.
Forward-Looking Statements Disclaimer Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. To the extent that statements in this release are not strictly historical, including without limitation statements as to improvement of outcomes, our impact on diagnostic strategies and planned future offerings, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous risk factors as set forth in our Securities and Exchange Commission (SEC) filings. The effects of such risks and uncertainties could cause actual results to differ materially from the forward-looking statements contained in this release. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law. Readers are advised to review our filings with the SEC, which can be accessed over the Internet at the SEC’s website located at www.sec.gov.
CONTACT: Investor Contact: The Ruth Group David Burke/Lee Roth (646) 536-7009 / (646) 536-7012 dburke@theruthgroup.com/lroth@theruthgroup.com Media Contact: The Ruth Group Melanie Sollid-Penton (646) 536-7023 msollid@theruthgroup.com
(EXAS) Reports Strong Growth Trajectory for Cologuard™ in First-Quarter 2015
Exact Sciences Corp. (Nasdaq: EXAS) today announced its business and financial results for the quarter ending March 31, 2015, reporting that 11,000 Cologuard tests were completed and that the number of ordering physicians more than doubled, increasing from 4,100 at the end of 2014 to 8,300 in the first quarter of 2015.
“We are pleased with the strong launch trajectory of Cologuard,” said Kevin Conroy, Exact Sciences’ chairman and CEO. “Demand among patients and physicians and acceptance among commercial insurers is accelerating.”
The company expanded its team of sales professionals from 80 to 140 during the first quarter and also entered into an exclusive co-promotion agreement with Ironwood Pharmaceuticals, Inc. The arrangement will bring Cologuard to even more physicians and their patients through Ironwood’s 160 sales professionals.
Exact Sciences also made steady progress securing coverage from commercial insurers during the first quarter. This included positive medical policy coverage decisions from Anthem BlueCross BlueShield (37 million covered lives), Tufts Health Plan (1 million), CareFirst BlueCross BlueShield PPO (2 million) and Excellus BlueCross BlueShield of Western New York (1 million). The company also formally extended its collaboration with the Mayo Foundation for Medical Education and Research by an additional five years and expanded its licensing agreement to include additional gastrointestinal conditions.
Financial Results
Exact Sciences reported total revenues of $4.3 million for the first quarter of 2015, compared to $0.3 million for the first quarter of 2014. Cologuard received approval from the U.S. Food and Drug Administration in August 2014 and a final National Coverage Decision from the Centers for Medicare and Medicaid Services in October 2014.
For the first quarter of 2015 the company reported a net loss of ($35.8) million, or ($0.40) a share. The company had a net loss of ($16.1) million, or ($0.23) a share, for the same period of 2014.
Operating expenses for the quarter ended March 31, 2015, were $36.1 million, compared to $16.5 million for the first quarter of 2014.
Exact Sciences ended the first quarter of 2015 with cash, cash equivalents and marketable securities of $245.2 million, compared to $282.8 million at Dec. 31, 2014.
First-Quarter Conference Call & Webcast
Company management will host a conference call and webcast on Monday, May 4, 2015, at 10 a.m. ET to discuss first-quarter results. The webcast will be available at www.exactsciences.com. Domestic callers should dial 877-212-6082 and international callers should dial 707-287-9332. An archive of the webcast and a replay of the conference call will be available at www.exactsciences.com or by calling 855-859-2056 domestically or 404-537-3406 internationally. The access code for the conference call and replay is 29563689. The conference call, webcast and replay are open to all interested parties.
About Exact Sciences Corp.
Exact Sciences Corp. is a molecular diagnostics company focused on colorectal cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. Stool-based DNA technology is included in the colorectal cancer screening guidelines of the American Cancer Society and the U.S. Multi-Society Task Force on Colorectal Cancer. For more information, please visit the company’s website at www.exactsciences.com.
Certain statements made in this news release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, anticipated results of our sales and marketing efforts, expectations concerning payor reimbursement and the anticipated results of our product development efforts. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully and profitably market our products; the acceptance of our products by patients and health care providers; the amount and nature of competition from other cancer screening products and procedures; our ability to maintain regulatory approvals and comply with applicable regulations; our success establishing and maintaining collaborative and licensing arrangements; our ability to successfully develop new products; and the other risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
EXACT SCIENCES CORPORATION | |||||||||||
Selected Unaudited Financial Information | |||||||||||
Condensed Consolidated Statements of Operation Data | |||||||||||
(Amounts in thousands, except per share data) | |||||||||||
Three Months Ended | |||||||||||
March 31, | |||||||||||
2015 | 2014 | ||||||||||
Laboratory service revenue | $ | 4,266 | $ | – | |||||||
License fees | – | 294 | |||||||||
4,266 | 294 | ||||||||||
Cost of sales | 4,212 | – | |||||||||
Gross margin | 54 | 294 | |||||||||
Operating Expenses: | |||||||||||
Research and development | 6,571 | 7,430 | |||||||||
General and administrative | 12,971 | 4,586 | |||||||||
Sales and marketing | 16,524 | 4,456 | |||||||||
36,066 | 16,472 | ||||||||||
Loss from operations | (36,012 | ) | (16,178 | ) | |||||||
Investment income | 222 | 86 | |||||||||
Interest expense | (11 | ) | (15 | ) | |||||||
Net loss | $ | (35,801 | ) | $ | (16,107 | ) | |||||
Net loss per share – basic and diluted | $ | (0.40 | ) | $ | (0.23 | ) | |||||
Weighted average common shares | |||||||||||
outstanding – basic and diluted | 88,662 | 70,987 | |||||||||
EXACT SCIENCES CORPORATION | |||||||||
Selected Unaudited Financial Information | |||||||||
Condensed Consolidated Balance Sheet Data | |||||||||
(Amounts in thousands) | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Assets | |||||||||
Cash and cash equivalents | $ | 40,679 | $ | 58,131 | |||||
Marketable securities | 204,472 | 224,625 | |||||||
Accounts receivable | 1,581 | 1,376 | |||||||
Inventory, net | 5,423 | 4,017 | |||||||
Prepaid expenses and other current assets | 3,892 | 3,528 | |||||||
Property and equipment, net | 21,567 | 19,947 | |||||||
Other long-term assets | 1,200 | – | |||||||
Total assets | $ | 278,814 | $ | 311,624 | |||||
Liabilities and stockholders’ equity | |||||||||
Total current liabilities | $ | 14,476 | $ | 17,521 | |||||
Long term debt | 1,000 | 1,000 | |||||||
Long term other liabilities | 3,541 | 2,399 | |||||||
Long term accrued interest | 112 | 106 | |||||||
Lease incentive obligation, less current portion | 1,476 | 1,614 | |||||||
Total stockholders’ equity | 258,209 | 288,984 | |||||||
Total liabilities and stockholders’ equity | $ | 278,814 | $ | 311,624 | |||||
Exact Sciences Corp.
J.P. Fielder, +1-608-210-5220
jpfielder@exactsciences.com
(BCOV) Announces Major Updates to Core Products at PLAY 2015
Brightcove Inc. (NASDAQ:BCOV), the leading provider of cloud services for video, today announced a new wave of feature enhancements to its core products as well as market-specific solutions tailored for Media and Digital Marketing customers. These new products and market-specific solutions allow organizations to publish video faster, deliver a more engaging video experience, and drive business results. Whether companies need to launch a video marketing campaign in minutes or build advanced workflows for new video distribution models, Brightcove offers a complete video technology platform to reach audiences anytime and anywhere.
Tweet this: .@Brightcove’s new products publish video faster, deliver more engaging video experiences, and drive business results
“As our industry faces the exponential complexity of new devices, expanding platforms, and changing audience viewing habits, it is critical that our technology is flexible and provides the building blocks that allow our customers to create any video experience they want,” said David Mendels, CEO, Brightcove. “Built around this philosophy, the latest wave of Brightcove products allow companies to quickly and easily launch video simultaneously across device platforms, deliver out-of-the-box market-specific solutions for Media companies and Digital Marketers, and offer a broad set of easy-to-use APIs to further extend Brightcove’s capabilities. As the proliferation of video continues, we are committed to simplifying technical complexity so that our customers may focus on the business models that they want to execute.”
The New Video Cloud Studio
Brightcove’s Video Cloud Studio delivers a robust solution to ingest video, manage and publish content, and analyze usage. New features include:
- A new responsive HTML5 interface that works across desktop, tablet and mobile devices
- New upload module built on top of Brightcove’s industry leading Dynamic Ingest platform
- Enhancements to content organization and management, including custom folders
- Streamlined publishing workflows for videos, players, and playlists
- Ability to easily create contributor-only or analytics-only role-based permissions as use of video scales from individual project teams to broad use across the organization
- A powerful new Custom Report Builder that enables customers to deliver key video performance insights across one or multiple Video Cloud accounts on an ad hoc or recurring basis
The new Video Cloud Studio is currently available in open beta to all Video Cloud Pro and Enterprise customers. General availability is expected in summer 2015.
Brightcove Solutions for Media
Brightcove cloud solutions for Media enable media owners and publishers to deliver and monetize video across online, mobile, and over-the-top (OTT) services. New ad insertion developments include:
- Once VOD 2.0 is the industry’s leading cloud-based, ad and stream stitching solution. Once VOD 2.0 enables media companies to deliver a seamless and consistent ad-supported video experience across devices to maximize audience reach, ad inventory, and revenue opportunity. Brightcove Once VOD 2.0 integrates with the Brightcove Player, and iOS and Android video SDKs, to deliver an interactive user experience through actionable overlays and synchronized companion ads, and offers content providers a highly-configurable in-player ad solution. The latest version also supports FairPlay Streaming, Apple’s digital rights management (DRM) technology, which allows advertisers to deliver content to Apple TV and realize new ad opportunities.
- Once Live 2.0 delivers next-generation ad insertion for live streaming content. Once Live 2.0 dynamically stitches mid-roll ads into live content, allowing media owners to monetize content while maintaining a high-quality user experience. The latest features, which include ad insertion, ad replacement, and content replacement for both live events and 24/7 live broadcasting, are currently in open beta for all Brightcove customers, and are expected to be generally available in summer 2015.
Brightcove Solutions for Digital Marketing
Brightcove’s Video Marketing Suite (VMS) offers the complete solution to incorporate video into brand awareness, lead-generation, and lead nurturing campaigns. It can also be deployed beyond the marketing function for broad corporate communications, HR, and training activities and with our security features, for internal communications as well.
- Gallery, a powerful solution to simply and rapidly publish responsive video portals that are optimized for SEO and social sharing, now offers a new template for live video experiences that includes a pre-event, during event and post event state allowing brands to extend their reach in minutes. Additional Gallery enhancements include integrated calls-to-action for marketing programs and support for multi-language sites.
- A new Audience Module in the Video Marketing Suite allows marketers to feed video viewing and lead collection data directly into marketing automation systems such as Oracle Eloqua and Marketo, enabling better targeted communications, enhanced lead scoring, and enhanced lead capture.
Both the new Gallery and the Audience Module are expected to be generally available in summer 2015.
Supporting resources:
- Brightcove Video Cloud
- Brightcove Video Marketing Suite
- Brightcove Once VOD 2.0
- Brightcove Once Live 2.0
- Brightcove for Media
- Brightcove for Digital Marketing
Brightcove on social media:
About Brightcove
Brightcove Inc. (NASDAQ:BCOV) is the leading global provider of powerful cloud solutions for delivering and monetizing video across connected devices. The company offers a full suite of products and services that reduce the cost and complexity associated with publishing, distributing, measuring and monetizing video across devices. Brightcove has more than 5,500 customers in over 70 countries that rely on the company’s cloud solutions to successfully publish high-quality video experiences to audiences everywhere. To learn more, visit www.brightcove.com.
This press release may include forward-looking statements regarding anticipated objectives, growth and/or expected product and service developments or enhancements. Such forward-looking statements may be identified by the use of the following words (among others): “believes,” “expects,” “may,” “will,” “plan,” “should” or “anticipates,” or comparable words and their negatives. These forward-looking statements are not guarantees but are subject to risks and uncertainties that could cause actual results to differ materially from the expectations contained in these statements. For a discussion of such risks and uncertainties, see “Risk Factors” in the Company’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K. Brightcove assumes no obligation to update any forward-looking statements contained in this press release in the event of changing circumstances or otherwise, and such statements are current only as of the date they are made.
North America:
Vanessa Royle, 415-547-7059
Waggener Edstrom for Brightcove
vroyle@waggeneredstrom.com
or
Europe:
Laura Gillen, +44 20 7632 3912
Waggener Edstrom for Brightcove
lgillen@waggeneredstrom.com
(CYTR) Aldoxorubicin Demonstrates Tumor Shrinkage Improved Quality of Life
Combination Clinical Trial Data Showing Impressive Activity in Bone Cancer and Other Sarcomas Administration was also found to be well tolerated in patients being treated with either aldoxorubicin plus gemcitabine or aldoxorubicin plus ifosfamide
LOS ANGELES, May 4, 2015 — CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical research and development company specializing in oncology, today announced an interim analysis from its two ongoing phase 1b aldoxorubicin combination studies pairing aldoxorubicin with either gemcitabine or ifosfamide. Both studies combine standard doses of gemcitabine or ifosfamide with escalating doses of aldoxorubicin. The combinations appear to be well tolerated, and even at the lowest dose level of aldoxorubicin (170 mg/m2), impressive tumor responses have been observed so far in patients with bone cancer (osteosarcoma) and a variety of soft tissue sarcomas. As such, aldoxorubicin has the potential when used in combination with other cancer agents to become an important new weapon against chemotherapy resistant cancers.
“I am very excited so far with both the tolerability and activity of these combinations,” said Dr. Sant Chawla, Principal Investigator and Director of the Sarcoma Oncology Center, Santa Monica, CA. “Our first patient with osteosarcoma treated with ifosfamide plus aldoxorubicin had a PET-demonstrated complete tumor response after only five cycles of the combination that has persisted for over six months. Several patients administered the gemcitabine plus aldoxorubicin combination showed tumor shrinkage after only two cycles of treatment, and a patient with advanced cartilage/bone cancer, a rare and deadly cancer, was able to stop all pain medication except Advil and returned to work full time. These results support the further study of these combinations in larger outcome clinical trials.”
The first study is an open-label, Phase 1b clinical trial investigating the preliminary safety and activity of ascending doses of aldoxorubicin plus ifosfamide/mesna for the first-line treatment of patients with locally advanced, unresectable, and/or metastatic sarcomas, including bone cancer. Interim results from seven evaluable patients show that the combination of aldoxorubicin plus ifosfamide/mesna was well tolerated. One bone cancer patient achieved a complete tumor response following five treatment cycles. The Company expects to complete dose escalation in this trial in the second half of 2015, and to begin adding sarcoma patients at the maximum well-tolerated dose combination.
The second trial is an open-label, Phase 1b clinical trial investigating the preliminary safety and activity of ascending doses of aldoxorubicin plus gemcitabine in patients with advanced, unresectable, metastatic solid tumors that have either relapsed or were refractory to treatment following at least one prior chemotherapy or immunotherapy regimen, and for which no standard approved therapy exists. Interim results from seven patients show that the combination of aldoxorubicin plus gemcitabine was well tolerated. Tumor shrinkage was observed in three of seven patients following two treatment cycles. One patient with advanced dedifferentiated chondrosarcoma (cartilage/bone cancer), chronic severe pain and inability to function normally demonstrated meaningful quality of life improvements, including stopping prescription narcotic pain medications and returning to full-time work. The Company expects to complete dose escalation in this trial in the second half of 2015, and to begin adding patients with either relapsed pancreatic or ovarian cancer at the maximum well-tolerated dose combination.
“We believe that aldoxorubicin has the potential to be combined with other anti-cancer agents in order to improve patient outcomes for many types of cancer,” said Steven A. Kriegsman, Chairman and CEO of CytRx. “These results, which include excellent tolerability and compelling initial signs of activity, even at the lowest dose of aldoxorubicin, provide an opportunity to expand the aldoxorubicin development pipeline and explore additional indications. For aldoxorubicin plus gemcitabine, we are exploring further development of this combination as a treatment for patients with advanced pancreatic or ovarian cancers that have relapsed, or not yet responded, following initial courses of chemotherapy. We are encouraged by these initial results and look forward to providing updates on these studies as they reach completion.”
About the Phase 1b Study Design of Aldoxorubicin Plus Ifosfamide/Mesna in Advanced Sarcomas
In this 30-subject, multisite, Phase 1b trial, aldoxorubicin is being administered at escalating doses by intravenous infusion (IVI) on Day 1 every 28 days, and 1 gm/m2/day of ifosfamide and an equivalent dose of mesna will be administered via continuous infusion with a portable at-home pump for up to 14 days every 28 days starting on Day 1 of each cycle, until disease progression, unacceptable toxicity or the patient withdraws consent. The primary objective of the trial is to determine the preliminary safety of administration of aldoxorubicin in combination with ifosfamide in subjects with metastatic, locally advanced, or unresectable STS as measured by the frequency and severity of adverse events (AEs), abnormal findings on physical examination, laboratory tests, vital signs, echocardiograms (ECHO) or multiple-gated acquisition (MUGA) scans, electrocardiogram (ECG) results, and weight. The secondary objective of the trial is to evaluate the activity of aldoxorubicin in combination with ifosfamide/mesna in this population, assessed by overall response rate (ORR), progression-free survival (PFS) and PFS at 4 and 6 months.
About the Phase 1b Study Design of Aldoxorubicin Plus Gemcitabine in Metastatic Solid Tumors
In this 30-subject, multisite, Phase 1b trial, aldoxorubicin is being administered at escalating doses by intravenous infusion (IVI) on Day 1 every 21 days plus 900 mg/m2 gemcitabine on Days 1 and 8 every 21 days until disease progression, unacceptable toxicity or the patient withdraws consent. The primary objective of the trial is to determine the preliminary safety of administration of aldoxorubicin in combination with gemcitabine in subjects with metastatic solid tumors as measured by the frequency and severity of adverse events (AEs), abnormal findings on physical examination, laboratory tests, vital signs, echocardiograms (ECHO) or multiple-gated acquisition (MUGA) scans, electrocardiogram (ECG) results, and weight. The secondary objective of the trial is to evaluate the activity of aldoxorubicin in combination with gemcitabine in this population, assessed by overall response rate (ORR), progression-free survival (PFS), and PFS at 4 and 6 months.
About Bone Cancers (Osteosarcoma, Chondrosarcoma)
Bone cancer is a highly aggressive type of cancer that develops in bone. It starts in immature bone cells (osteoblasts) that normally form new bone tissue. According to the National Cancer Institute, there are approximately 3400 new cases of bone and joint cancer diagnosed each year in the United States, with approximately half of these occurring in children and teens. In addition, the estimated deaths in the U.S. were 1,460 in 2014. Although they can arise in any bone in the body, the most frequent sites are at the ends of the long bones of the legs and arms. In most cases, treatment consists of both chemotherapy and surgery, but patients with metastatic bone cancer continue to have a poor 5-year survival rate (15-30%).
About Aldoxorubicin
The widely used chemotherapeutic agent doxorubicin is delivered systemically and is highly toxic, which limits its dose to a level below its maximum therapeutic benefit. Doxorubicin also is associated with many side effects, especially the potential for damage to heart muscle at cumulative doses greater than 450 mg/m2. Aldoxorubicin combines doxorubicin with a novel single-molecule linker that binds directly and specifically to circulating albumin, the most plentiful protein in the bloodstream. Protein-hungry tumors concentrate albumin, thus increasing the delivery of the linker molecule with the attached doxorubicin to tumor sites. In the acidic environment of the tumor, but not the neutral environment of healthy tissues, doxorubicin is released. This allows for greater doses (3 ½ to 4 times) of doxorubicin to be administered while reducing its toxic side effects. In studies thus far there has been no evidence of clinically significant effects of aldoxorubicin on heart muscle, even at cumulative doses of drug well in excess of 2,000 mg/m2.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. CytRx currently is focused on the clinical development of aldoxorubicin (formerly known as INNO-206), its improved version of the widely used chemotherapeutic agent doxorubicin. CytRx has initiated under a special protocol assessment a pivotal Phase 3 global trial with aldoxorubicin as a therapy for patients with soft tissue sarcomas whose tumors have progressed following treatment with chemotherapy, and has announced that it has received approval from the FDA to continue dosing patients with aldoxorubicin until disease progression in that clinical trial. CytRx is currently evaluating aldoxorubicin in a global Phase 2b clinical trial in small cell lung cancer, a Phase 2 clinical trial in HIV-related Kaposi’s sarcoma, a Phase 2 clinical trial in patients with late-stage glioblastoma (brain cancer), a Phase 1b trial in combination with ifosfamide in patients with soft tissue sarcoma, and a Phase 1b trial in combination with gemcitabine in subjects with metastatic solid tumors. CytRx has completed a global Phase 2b clinical trial with aldoxorubicin as a first-line therapy for soft tissue sarcomas, a Phase 1b/2 clinical trial primarily in the same indication, a Phase 1b clinical trial of aldoxorubicin in combination with doxorubicin in patients with advanced solid tumors and a Phase 1b pharmacokinetics clinical trial in patients with metastatic solid tumors. CytRx plans to expand its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, based on novel linker technologies that can be utilized with multiple chemotherapeutic agents and may allow for greater concentration of drug at tumor sites. For more information about CytRx Corporation, visit www.cytrx.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks relating to the outcome, timing and results of CytRx’s clinical trials, the timing or FDA approval of projected commercial sales of aldoxorubicin, the risk that any future human testing of aldoxorubicin might not produce results similar to those seen in past human or animal testing, risks related to CytRx’s ability to manufacture its drug candidates in a timely fashion, cost-effectively or in commercial quantities in compliance with stringent regulatory requirements, risks related to CytRx’s need for additional capital or strategic partnerships to fund its ongoing working capital needs and development efforts, including the Phase 3 clinical development of aldoxorubicin, risks related to lawsuits that have been brought against the Company and its officers and/or directors for alleged violations of the securities laws, and the risks and uncertainties described in the most recent annual and quarterly reports filed by CytRx with the Securities and Exchange Commission and current reports filed since the date of CytRx’s most recent annual report. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations:
Argot Partners
Michelle Carroll
212.600.1902
michelle@argotpartners.com
Legend Securities
John Columbia
800-385-5790 ext 164
718-233-2677 (Direct)
jcolumbia@legendsecurities.com
Media:
Argot Partners
Eliza Schleifstein
973.361.1546
eliza@argotpartners.com
Company Contact:
CytRx Corporation
David J. Haen
Vice President, Business Development and Investor Relations
310-826-5648, x304
dhaen@cytrx.com
(MICT) Awarded $4 Million Purchase Agreement for School Bus Fleets
– * First Purchase agreement for Micronet’s New A317 All-In-One Tablet. Recently Certified On Verizon Wireless Network –
MONTVALE, N.J., May 4, 2015 — Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) announced that its Mobile Resource Management (MRM) subsidiary, Micronet Ltd, entered into a three-year purchase agreement with a leading U.S. based K-12 school bus fleet and workforce management solutions company, for Micronet’s A317 All-In-One, rugged Android tablet. Pursuant to the agreement, subject to certain product development milestones, orders for the first year may exceed $4 million, and management expects increased volumes for each of the following two years.
Utilizing Micronet’s Android All-In-One A317 rugged tablets, the U.S – based customer is able to provide comprehensive tracking and efficiency to yellow bus fleet operations, manage the time and attendance of K-12 fleet drivers, improve vehicle maintenance by using the engine diagnostics and fault code alerts, optimize bus routes, and manage student ridership through the single, scalable, integrated, telematics tablet.
Each school day nearly 500,000 school buses transport approximately 30 million children to and from school and school-related activities. So far only a minority of those buses are currently equipped with fleet telematics systems.
Verizon Wireless recently certified Micronet’s A317 All-In-One Tablet to operate on Verizon Wireless’ Network.
“Verizon’s recent approval of our All-In-One A317 opens the door for many additional applications in the growing MRM market. We believe Micronet offers a comprehensive range of products and tablets throughout the MRM industry and a significant purchase agreement such as this one, for the K-12 school bus industry, validates the quality, diversity and market acceptance of our line of tablets to provide solutions to many different applications,” said Shai Lustgarten, Micronet Chief Executive Officer.
“It is gratifying to enter into a purchase agreement of this size, which demonstrates our continued momentum and proven progress toward establishing Micronet as a major supplier of rugged tablets to the multibillion dollar MRM market. Our portfolio of solutions combined with our skilled sales team, position us well to increasingly capture business in the local fleet vertical, the largest segment in the MRM space.”
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) operates through two companies, Enertec Systems 2001 Ltd (“Enertec”), its wholly-owned subsidiary, and Micronet Ltd (“Micronet”), in which it has a controlling interest. Micronet operates in the growing commercial Mobile Resource Management (MRM) market, mainly in the United States. Micronet designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. Enertec operates in the Defense and Aerospace markets and designs, develops, manufactures and supplies various customized military computer-based systems for missile defense systems, command and control and others. The Company’s products, solutions and services are designed to perform in severe environments and battlefield conditions. For more information, please visit: www.micronet-enertec.com, the content of which is not incorporated by reference into this press release.
Forward-looking Statement
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. These forward-looking statements include, but are not limited to, those statements regarding validation of the quality, diversity and market acceptance of our line of tablets to provide solutions to many different applications, establishing Micronet as a major supplier of rugged tablets to the multibillion dollar MRM market, and capturing business in the local fleet vertical, Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the “Risk Factors” section and elsewhere in the Company’s annual report on Form 10-K for the year ended December 31, 2014 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
(ICLD) Announces the Launching of NFVGrid
SHREWSBURY, N.J., May 4, 2015 — InterCloud Systems, Inc. ( the “Company or “InterCloud” ) (Nasdaq:ICLD) a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Functions Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services, announced today the launching of NFVGrid, a Network Functions Virtualization Orchestration platform.
InterCloud’s Network-as-a-Service ( NaaS ) offering (an ETSI NFV ISG framework based NFV and Cloud orchestration platform) provides multi-vendor cloud and NaaS. This new platform utilizes open APIs to ensure interoperability with different OSS/BSS platforms, cloud management systems, SDN controllers, and virtualized network function (VNF) managers. Contrail from Juniper is an industry proven solution for SDN and we are building on top of it to maximize the benefit for the end user. This platform enables our network service provider and enterprise customers to quickly launch network functions without dealing with complex underlying open stack, hypervisor and physical hardware configurations, Which results in low cap-ex and on-demand scale up or down based architecture. In addition to this platform our professional services arm makes this transition easier and painless for our customers. From operational perspective InterCloud becomes one-stop shop to support the entire architecture, supporting multiple vendors and technologies.”
InterCloud Vice President of Cloud Services, Aqeel Asim, stated: “The biggest motivation driving service providers and cloud providers to pursue NFV is the ability to quickly deploy services for new revenue opportunities. The virtualization is a reality and its going to change business models.” Asim added, “We have taken a pragmatic approach to implement network and service orchestration for virtualized network services keeping in mind the integration with existing BSS/OSS solutions. We are closely following the evolving role of standards in operationalizing of virtualized services.”
CEO Mark Munro stated, “Our NaaS offering, powered by NFVGrid is a major breakthrough for our Company. Infonetics forecasts the carrier SDN and NFV market to reach $11 Billion by 2018. We have positioned InterCloud to be a competitive force in the emerging growth of Next-Generation IT and telecom networks.”
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Function Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud offers cloud and managed services, professional consulting and staffing services, and infrastructure and applications to assist its customers in meeting their changing technology demands. InterCloud’s cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud’s website at www.intercloudsys.com.
Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
CONTACT: Investor Relations InterCloud Systems, Inc. 561-988-1988
(HPJ) Awarded Energy Storage Project from China Southern Power Grid
SAN FRANCISCO and SHENZHEN, China, May 1, 2015 — Highpower International, Inc. (“Highpower International” or “the Company”) (NASDAQ: HPJ), developer, manufacturer, and marketer of lithium and nickel-metal hydride (Ni-MH) rechargeable batteries, management systems and recycling services announce today it has secured a contract to produce a 100KWH energy storage system (ESS) for China Southern Power Grid Co., Ltd. (CSPG). This ESS system is designed to maintain a balance of supply and demand over the south China grid as part of a long-term energy storage project developed by CSPG. While financial terms of the agreement were not disclosed, the contract is expected to be filled, with all batteries and battery management system (BMS) delivered, by the end of May 2015.
GSPG invests, constructs and operates power networks in regions of south China and is one of the largest utility suppliers in the world. This order makes up a critical part of their energy storage station. Power plants take advantage of grid integrated ESS in dealing with fluctuating energy demand. This demand differs over the course of the day, with greater needs during peak hours and lower demand at night. ESS systems such as the one Highpower is producing for CSPG are used for feeding power to the grid at times when consumption that cannot be deferred or delayed exceeds production. In this way, electricity production need not be drastically scaled up and down to meet momentary consumption. Instead, transmission from the combination of generators plus storage facilities is maintained at a more constant level.
George Pan, President and CEO of Highpower, stated, “ESS systems have far reaching applications, not just in integrated grid technologies or stand-alone systems, and there is a real possibility this technology will be entering the residential market. This is a promising market, as policies and incentives are making it more economically feasible to sell battery systems to businesses, utilities, and residences. We intend to leverage our expertise in developing battery technologies to take advantage of the growing energy storage market as a manufacturer, and believe that projects such as our agreement with CSPG represent an exciting new era our Company’s development.”
About Highpower International, Inc.
Highpower International was founded in 2001 and produces high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based rechargeable batteries used in a wide range of applications such as electric buses, bikes, energy storage systems, power tools, medical equipment, digital and electronic devices, personal care products, and lighting. Highpower’s target customers are Fortune 500 companies and top 10 companies in each vertical segment. With advanced manufacturing facilities located in Shenzhen, Huizhou, and Ganzhou of China, Highpower is committed to clean technology, not only in the products it makes, but also in the processes of production. The majority of Highpower International’s products are distributed to worldwide markets mainly in the United States, Europe, China and Southeast Asia.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995 that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology, and include discussions of the Company’s future performance, operations and products. Such statements involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from the results expressed or implied by such statements, including, our ability to successfully expand sales of our lithium battery product in the mobile device market and our ability to effectively compete in that market. For a discussion of these and other risks and uncertainties see “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s public filings with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.
CONTACT:
Highpower International, Inc.
Sherry Chen
+86-755-8968-6521
ir@highpowertech.com
INVESTOR RELATIONS:
The Equity Group Inc.
In China
Katherine Yao, Associate
+86-10-6587-6435
kyao@equityny.com
In U.S.
Adam Prior, Senior Vice President
(212) 836-9606
aprior@equityny.com
(SRPT) Inducement Grants Under Nasdaq Listing Rule 563
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a developer of innovative RNA-targeted therapeutics, today announced equity awards granted on April 30, 2015, that were previously approved by the Compensation Committee of its Board of Directors under Sarepta’s 2014 Employment Commencement Incentive Plan, as a material inducement to employment to three individuals hired by Sarepta in April 2015. The equity awards were approved in accordance with NASDAQ Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase 20,375 shares of Sarepta’s common stock. The options have an exercise price of $12.20 per share, which is equal to the closing price of Sarepta’s common stock on April 30, 2015. One-fourth of the shares underlying each employee’s option will vest on the one year anniversary of his or her date of hire and thereafter 1/48th of the shares underlying each employee’s option will vest monthly, such that the shares underlying the option granted to each employee will be fully vested on the fourth anniversary of his or her date of hire, in each case, subject to each such employee’s continued employment with Sarepta on such vesting dates.
About Sarepta Therapeutics
Sarepta Therapeutics is a biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company is primarily focused on rapidly advancing the development of its potentially disease-modifying DMD drug candidates, including its lead DMD product candidate, eteplirsen, designed to skip exon 51. Sarepta is also developing therapeutics for the treatment of drug-resistant bacteria and infectious, rare and other human diseases. For more information, please visit us at www.sarepta.com.
Internet Posting of Information
We routinely post information that may be important to investors in the ‘For Investors’ section of our website at www.sarepta.com. We encourage investors and potential investors to consult our website regularly for important information about us.
Media and Investors:
Sarepta Therapeutics, Inc.
Ian Estepan, 617-274-4052
iestepan@sarepta.com
(SRNE) Acquires South American Rights To Cynviloq™
SAN DIEGO, May 1, 2015 — Sorrento Therapeutics, Inc. (NASDAQ: SRNE) (Sorrento), a late-stage clinical oncology company developing new treatments for cancer and associated pain, announced today that its fully owned subsidiary, IGDRASOL, has acquired exclusive distribution rights from Samyang Biopharmaceuticals (“Samyang”), a South Korean corporation, to Cynviloq™ (marketed as Genexol-PM® in South Korea) in South America.
About Sorrento Therapeutics, Inc.
Sorrento is an oncology company developing new treatments for cancer and associated pain. Sorrento’s most advanced asset Cynviloq™, the next-generation nanoparticle paclitaxel, completed patient enrollment in the TRIBECA registrational trial in January. Sorrento is also developing resiniferatoxin (RTX), a non-opiate TRPV1 agonist currently in a Phase 1/2 study at the NIH to treat terminal cancer patients suffering from intractable pain.
In December 2014, the company and NantWorks formed a global joint venture, now called Nantibody, to focus on certain next generation immunotherapies for cancer and autoimmune diseases. The company and Conkwest, Inc., a privately-held immuno-oncology company developing proprietary Neukoplast®, a Natural Killer (NK) cell-line based therapy, also entered into an agreement to jointly develop next generation CAR.TNK™ (Chimeric Antigen Receptor Tumor-attacking Neukoplast) immunotherapies for the treatment of cancer. The CAR.TNK technology platform combines Conkwest’s proprietary Neukoplast cell line with Sorrento’s proprietary G-MAB® fully human antibody technology and CAR designs to further enhance the potency and targeting of Neukoplast. More recently, in March 2015, Sorrento entered into a global collaboration with NantCell, a NantWorks company, to discover and develop novel anti-cancer immunotherapies.
The company has made significant advances in developing human monoclonal antibodies, complemented by comprehensive and fully integrated bispecific antibody and antibody drug conjugate (ADC) platforms that include proprietary conjugation chemistries, linkers and toxic payloads. Sorrento’s strategy is to enable a multi-pronged approach to combating cancer with small molecules, mono- and bispecific therapeutic antibodies, ADCs and adoptive cellular immunotherapy.
Forward-Looking Statements
This press release contains forward-looking statements related to Sorrento Therapeutics, Inc. under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about Sorrento’s ability to leverage the expertise of employees and partners to assist the company in the executive of its strategies; the Cynviloq registrational trial; Sorrento’s advances made in developing RTX and human monoclonal antibodies using its proprietary G-MAB fully human antibody technology, if any; Sorrento’s use of G-MAB generated CARs to enhance the potency of its CAR.TNKs; and other matters that are described in Sorrento’s Annual Report on Form 10-K for the year ended December 31, 2014, and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and we undertake no obligation to update any forward-looking statement in this press release except as required by law.
Sorrento™, CAR.TNK™, the Sorrento logo and Cynviloq™ are trademarks owned by Sorrento Therapeutics, Inc.
(IART) Features New MAYFIELD(R) 2 System at AANS
PLAINSBORO, N.J., May 1, 2015 — Integra LifeSciences Holdings Corporation (Nasdaq:IART) today announced the introduction of the new MAYFIELD® 2 system for rigid cranial fixation. The MAYFIELD 2 system will be featured at the Integra LifeSciences exhibition booth at the American Association of Neurological Surgeons Annual Meeting, May 2-6, 2015, in Washington, D.C.
“MAYFIELD is among the most trusted brands in cranial stabilization, and Integra is very pleased to offer continued innovations to the MAYFIELD cranial stabilization product line started by Dr. Frank H. Mayfield, over 40 years ago,” said Robert T. Davis, Jr., President of Integra Specialty Surgical Solutions. “Integra’s new MAYFIELD 2 system has enhanced features that make the clamp easier to use and allow the surgeon to more precisely position the patient’s head to prepare for delicate neurosurgical procedures.”
The MAYFIELD 2 system consists of a new Skull Clamp, along with a new Base Unit. The MAYFIELD 2 Skull Clamp is composed of a new stronger and lighter weight material. It includes an increased amount of off-set ratcheting teeth for more precise closure, an I-beam for smoother closure, and a new dual button release for easier removal. The MAYFIELD 2 Base Unit features a powder-coated finish, which allows automatic washing, and a swivel adaptor that does not require any additional tools for adjustment.
MAYFIELD cranial stabilization systems are used worldwide in over 200,000 neurosurgical procedures annually. These procedures include craniotomy for tumor removal, treatment of head trauma injuries, pediatric disorders such as hydrocephalus, biopsies, cancer removal, cerebrovascular disorders such as aneurysms, posterior cervical spine conditions and neurodegenerative disorders such as Parkinson’s disease or epilepsy. Integra is a leading provider of implants, devices, instruments and systems used in neurosurgery, neuromonitoring, neuro-trauma and related neurocritical care.
Integra LifeSciences, a world leader in medical technology, is dedicated to limiting uncertainty for caregivers, so they can concentrate on providing the best patient care. Integra offers innovative solutions, including leading regenerative technologies, in specialty surgical solutions, orthopedics and tissue technologies, and spine hardware and orthobiologics. For more information, please visit www.integralife.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning the products and services provided by Integra. Such forward looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Among other things, the willingness of surgical professionals to use Integra products may affect the prospects for their use in surgical procedures. In addition, the economic, competitive, governmental, technological and other factors, identified under the heading “Risk Factors” included in Item IA of Integra’s Annual Report on Form 10-K for the year ended December 31, 2014 and information contained in subsequent filings with the Securities and Exchange Commission could affect actual results.
MAYFIELD is a registered trademark of SM USA Inc. and is used by Integra under license.
CONTACT: Integra LifeSciences: Media Gianna Sabella 609-936-2389 gianna.sabella@integralife.com Investors Angela Steinway 609-936-2268 angela.steinway@integralife.com
(ENOC) & (TSLA) to Collaborate on Energy Storage
BOSTON, May 1, 2015 — EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), today announced that it will collaborate with Tesla on the deployment and management of energy storage systems in commercial and industrial buildings. EnerNOC and Tesla will enable enterprises to monetize the batteries through demand charge management and demand response using EnerNOC’s EIS. Initial collaboration will include select EnerNOC customers in California.
“By working together, EnerNOC and Tesla can help enterprises find new, innovative ways to save money and get paid for their operational flexibility,” said Tim Healy, Chairman and CEO of EnerNOC. “Energy storage has great potential and is a natural fit with energy intelligence software. We are excited to explore the possibilities with Tesla.”
Enablement of EnerNOC customer sites with Tesla energy storage systems is currently underway.
“Energy management today is more complicated than simply buying power from the utility. Innovative companies like Tesla give us new options that enable us to reduce our reliance on the grid when prices are high, and EnerNOC’s software gives us the visibility we need to make informed decisions about when to use these technologies and how to measure the impact they’re having on our business,” said Scott Limbacher, Vice President of Construction and Maintenance at Stater Bros. Markets, a Southern California supermarket chain.
For information about joining the program, please visit www.enernoc.com/contact-us/sales.
About EnerNOC
EnerNOC is a leading provider of cloud-based energy intelligence software (EIS) and services to thousands of enterprise customers and utilities globally. EnerNOC’s EIS solutions for enterprise customers improve energy productivity by optimizing how they buy, how much they use, and when they use energy. EIS for enterprise includes budgeting and procurement, utility bill management, facility optimization, visibility and reporting, project tracking, demand management, and demand response. EnerNOC’s EIS solutions for utilities help maximize customer engagement and the value of demand-side resources, including demand response and energy efficiency. EnerNOC supports customer success with its world-class professional services team and a Network Operations Center (NOC) staffed 24x7x365. For more information, visit www.enernoc.com.
Safe Harbor Statement
Statements in this press release regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, statements relating to the future growth and success of the Company’s energy intelligence software, and the benefits that customers may derive from technology updates or enhancements to that software, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “could,” “could increase the likelihood,” “estimate,” “expect,” “intend,” “is planned,” “may,” “should,” “will,” “will enable,” “would be expected,” “look forward,” “may provide,” “would” or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to under the section “Risk Factors” in EnerNOC’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as well as other documents that may be filed by EnerNOC from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company’s actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. EnerNOC is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: EnerNOC Media Relations: Robin Deliso 617.692.2601 news@enernoc.com Investor Relations: Christopher Sands 617.692.2569 ir@enernoc.com
(CAMBU) Announces Adjournment of Its Special Meeting to Friday, May 8
WEST PALM BEACH, FL and SINGAPORE–(May 1, 2015) – Cambridge Capital Acquisition Corporation (NASDAQ: CAMB) (NASDAQ: CAMBU) (NASDAQ: CAMBW) (“Cambridge”) today announced that it convened and adjourned, without conducting any business, its special meeting of stockholders, held yesterday, April 30, 2015, at 4:30 p.m. Eastern Time until Friday, May 8, 2015 at 4:30 p.m. Eastern Time, in order to give its stockholders additional time to consider the supplemental proxy materials filed with the Securities and Exchange Commission by Cambridge on April 22, 2015, including the revised terms of the merger agreement with Parakou Tankers, Inc. and the revised and restructured common shareholder allocation, included in such supplemental materials, and to vote on the proposals to be considered at the special meeting. The special meeting will still be held at the offices of DLA Piper LLP (US), 200 South Biscayne Boulevard, Suite 2500, Miami, Florida 33131-5341.
Stockholders who intend to exercise their conversion rights must affirmatively vote either for or against the merger proposal, demand that Cambridge convert their shares into cash no later than the close of the vote on the merger proposal, and tender their stock to Cambridge’s transfer agent at least two business days prior to the vote at the meeting (by 5:00 p.m. Eastern Time on Wednesday, May 6, 2015). Stockholders may tender their stock by either delivering their stock certificate to the transfer agent or by delivering their shares electronically using Depository Trust Company’s DWAC (deposit withdrawal at custodian) system.
Stockholders of record at the close of business on March 4, 2015 are entitled to receive notice of the Special Meeting and to vote the shares of common stock of Cambridge owned by them at the Special Meeting. If you have already returned a validly executed proxy card, your shares will remain voted unless you revoke your prior proxy before the special meeting. You may change your vote by submitting a subsequent proxy. If your shares are held in “street name” you may revoke any prior vote and revote by following the telephone and/or Internet voting procedures provided to you by your bank or broker until 11:59 P.M. Eastern Daylight Time on May 7, 2015.
Stockholders who hold their shares in “street name,” which means the shares are held of record by a broker, bank or nominee, should contact their broker, bank or nominee to ensure that votes related to the shares beneficially owned by such stockholders are properly counted. In this regard, holders must provide the broker, bank or nominee with instructions on how to vote the shares or, if such a stockholder wishes to attend the meeting and vote in person, obtain a proxy from the broker, bank or nominee.
Additionally, Cambridge advises holders of its securities to move these securities into accounts that do not permit the lending of securities, so called cash accounts or segregated accounts, and out of accounts that permit the lending of securities, such as margin accounts. These steps are designed to ensure that votes related to common stock beneficially owned by stockholders are properly counted. Beneficial owners of common stock that have been lent out (either with or without the beneficial owners’ knowledge) are not permitted to vote those shares.
Parakou Tankers, Inc. Overview
Parakou is a fully integrated industrial shipping company engaged in the seaborne transportation of liquid petroleum products that owns and operates a fleet of modern medium range, or MR, product tankers. As of the date of this press release, Parakou’s fleet consists of eight 51,000 deadweight ton MR product tankers, which were transferred in July 2014 from Parakou (International) Limited, a Hong-Kong based shipping firm founded in 1985. Parakou was incorporated under the laws of the Marshall Islands in January 2014 and is headquartered in Singapore.
About Cambridge Capital Acquisition Corporation
Cambridge Capital Acquisition Corporation is a blank check company formed in order to effect a merger, capital stock exchange, asset acquisition or other similar business combination with one or more businesses or entities. Cambridge was incorporated under the laws of Delaware on October 1, 2013, completed its IPO on December 23, 2013 and currently holds $81,305,000 million in a segregated account pending the conclusion of the proposed Mergers with Parakou Tankers, Inc.
Additional Information and Where to Find It
The proposed business combination will be submitted to the stockholders of Cambridge for their consideration at the special meeting on May 8, 2015. In connection with the proposed business combination, Cambridge and Cambridge Holdco, Inc., Cambridge’s wholly-owned subsidiary (“Holdco”) has filed definitive registration statement on Form S-4 that includes a proxy statement/prospectus for the stockholders of Cambridge to be filed with the Securities and Exchange Commission (“SEC”) and mailed to the stockholders of Cambridge. Cambridge urges investors, stockholders and other interested persons to read the definitive proxy statement/prospectus, as well as other documents filed with the SEC, because these documents contain important information. Such persons can also read Cambridge’s final prospectus, dated December 17, 2013, and Cambridge’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, for a description of the security holdings of the Cambridge officers and directors and of EBC and their respective interests as security holders in the successful consummation of the transactions described herein. Cambridge’s definitive proxy statement/prospectus included in Holdco’s registration statement was mailed to stockholders of Cambridge as of the record date for voting on the transactions described in this press release. Stockholders may obtain a copy of such documents, without charge, by directing a request to: Cambridge Capital Acquisition Corporation, 525 South Flagler Drive, Suite 201, West Palm Beach, Florida 33701. These documents and Cambridge’s IPO final prospectus and Annual Report on Form 10-K can also be obtained, without charge, at the Securities and Exchange Commission’s web site (http://www.sec.gov).
Participants in Solicitation
Cambridge and its directors and executive officers and EarlyBirdCapital, Inc. may be deemed to be participants in the solicitation of proxies for the special meeting of Cambridge stockholders to be held to approve the business combination described in this press release. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of Cambridge in connection with the proposed business combination is set forth in the Registration Statement of Holdco and the definitive proxy statement of Cambridge, each filed with the SEC on March 27, 2015. You can also find information about Cambridge’s executive officers and directors in its Annual Report on Form 10-K, which was filed with the SEC on March 3, 2015. You can obtain free copies of these documents from Cambridge using the contact information above.
Non-Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Cambridge, Holdco or Parakou, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Safe Harbor Language
This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, Cambridge’s and Parakou’s expectations with respect to future performance, growth and anticipated acquisitions; the anticipated financial impact of the Business combination; ability to recognize the anticipated benefits of the Business combination; costs related to the proposed Business combination; the satisfaction of the closing conditions to the Business combination; the timing of the completion of the Business combination; volatility in charter rates and profitability; demand for shipping of refined petroleum products; global economic conditions; changes in fuel prices; geopolitical events and regulatory changes; damages to vessels; acts of piracy, political instability, terrorist or other attacks, war or international hostilities; loss of key personnel; delays in deliveries of any newbuild product tankers; difficulty managing planned growth properly; seasonal and exchange rate fluctuations; access to additional financing; changes in tax laws; weather and natural disasters; changing interpretations of generally accepted accounting principles; inquiries and investigations and related litigation; continued compliance with government regulations; and other risks and uncertainties indicated from time to time in filings with the SEC by Cambridge or Holdco. The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in Cambridge’s most recent filings with the SEC and will be contained in the proxy statement/prospectus to be filed by Holdco. All subsequent written and oral forward-looking statements concerning Cambridge,
Holdco and Parakou, the transactions described herein or other matters and attributable to Cambridge, Holdco and Parakou or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither Cambridge, Holdco nor Parakou undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
Contact
Ramon Suazo
Partner
Cambridge Capital Acquisition Corporation
Tel: 561-932-1615
(ICLD) New Business Backlog at All-Time High of Over $36 Million
SHREWSBURY, N.J., May 1, 2015 — InterCloud Systems, Inc. ( the “Company or “InterCloud” ) (Nasdaq:ICLD) a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Function Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services, announced today that it has seen an influx of new purchase orders and long term contracts across its business segments. New business backlog is now at an all-time high of over $36 Million.
Chairman and CEO Mark Munro stated, “Our backlog of business has been steadily growing over the past twelve months. A majority of this backlog is with fortune 100 companies and other large enterprises that continue to utilize our products and services. InterCloud’s growing backlog and sales pipeline certainly seems to contradict our stock’s performance. As we continue to gain industry acceptance, we believe investor confidence will follow.”
Mark Munro added, “This growing backlog is a tribute to InterCloud’s ability to offer industry leading solutions and services. It is evident that these large customers have confidence in InterCloud and in our track record of successful delivery of solutions. Customers clearly have a choice of what firm to manage their Next generation IT and telecom networks and InterCloud remains a chosen vendor. We look forward to continued success with our clients throughout 2015 and beyond as the technology landscape continues to move to Software Defined Networks(SDN) and Network Function Virtualization (NFV) . InterCloud is well positioned to take advantage of these major shifts in the way technology is delivered and managed.”
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Function Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud offers cloud and managed services, professional consulting and staffing services, and infrastructure and applications to assist its customers in meeting their changing technology demands. InterCloud’s cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud’s website at www.intercloudsys.com.
Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
CONTACT: Investor Relations InterCloud Systems, Inc. 561-988-1988
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