Archive for April, 2016

(GOLD) Randgold Resources: Vesting of CEO Career Shares Award

JERSEY, CHANNEL ISLANDS–(Apr 29, 2016) – Randgold Resources (LSE: RRS) (NASDAQ: GOLD)

RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
(“Randgold Resources” or the “Company”)

VESTING OF THE RANDGOLD RESOURCES LIMITED CEO CAREER SHARES AWARD

Jersey, Channel Islands, 29 April 2016 – Randgold Resources announces that on 29 April 2016, 40 024 ordinary shares in the Company (the “Shares“) were allotted by the Company to Mark Bristow, the chief executive officer and a director of the Company, at their nominal value ($0.05) in satisfaction of the vesting of four out of five tranches of an award of “career shares” granted on 29 April 2013 in respect of 50 031 ordinary shares in the Company (the “Award“).

The Award was approved by the Company’s shareholders on 29 April 2013, with vesting subject to continued office or employment with the Company for three years and the achievement of certain operational performance targets. The minimum service period has now expired, and four of the five operational performance targets having been achieved, accordingly, four of the five tranches of the Award have vested. The final tranche of the Award remains outstanding and subject to the satisfaction of a further operational performance target in accordance with the terms of the Award.

It is a requirement that Mark Bristow will retain the Shares until his cessation of office or employment with the Company. The Award is subject to clawback in the event that any material misstatement is found contained in any annual report and accounts of the Company on which the vesting of any part of the Award is based.

Mark Bristow’s shareholding in the Company is now 785 329 ordinary shares or 0.84% of the current issued share capital of the Company.

Randgold Resources Enquiries:

Financial Director
Graham Shuttleworth
+44 1534 735 333
+44 779 771 1338
Investor & Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: randgold@dpapr.com

Website: www.randgoldresources.com

Contacts:
RNS
Customer
Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com

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(MKTO) Raises $525 Million Across Two New Funds

$400 Million Mayfield XV Continues Focus on Early-Stage Venture Investments and $125 Million Mayfield Select Targets Later-Stage Venture Investments

MENLO PARK, CA–(April 29, 2016) – Mayfield, a global venture capital firm with a 46-year history of championing entrepreneurs, today announced that it has raised $525 million from its limited partners across two new funds. Mayfield XV is a $400 million venture capital fund that will continue the firm’s focus on early-stage venture investing, while Mayfield Select is a $125 million venture capital fund that will target later-stage venture investments.

“Championing entrepreneurs with our culture of focus and consistency has been the driver of our success,” said Navin Chaddha, Mayfield Managing Director. “We raise early-stage focused funds of approximately $400 million usually every 3-4 years and invest in roughly 30 companies per fund. Mayfield XV is our fourth consecutive fund with a consistent size that follows our established strategy of investing primarily in early-stage technology companies serving enterprises and consumers. We are grateful for the continued strong support of our strategy from our limited partners.”

In just the past four years, Mayfield portfolio companies have achieved over $12 billion in total market value as reflected in acquisitions or IPOs. The firm has championed entrepreneurs including Rehan Jalil, founder and CEO of Elastica (acquired by BlueCoat Systems); Logan Green & John Zimmer, co-founders of Lyft; Phil Fernandez, co-founder and CEO of Marketo; CC Zhuang & Fritz Demopoulos, co-founders of Qunar; Frank Addante, founder and CEO of The Rubicon Project; and Lyndon Rive, co-founder and CEO of SolarCity.

Mayfield Select is the first of its kind in the firm’s history. It will target later-stage venture investing in certain existing Mayfield portfolio companies. “As companies establish momentum but elect to stay private longer, early investors have the opportunity to participate in multiple follow-on rounds,” continued Chaddha. “Mayfield Select is a fund primarily focused on investing in later-stage rounds of certain companies in our portfolio.”

The core team in the new funds remains the same as the prior fund, with five investing directors (Navin Chaddha, Rajeev Batra, Tim Chang, Ursheet Parikh, and Robin Vasan) and an operating director (James Beck). The senior operations team consists of a CFO and vice presidents of marketing, investment operations, and talent.

About Mayfield

Mayfield is a global venture capital firm with over $3 billion under management. The Firm has been championing entrepreneurs for more than 46 years. Mayfield invests primarily in early-stage enterprise and consumer-facing IT companies. Some recent successes include Elastica (acquired by BlueCoat Systems), Marketo (NASDAQ: MKTO), The Rubicon Project (NASDAQ: RUBI), and SolarCity (NASDAQ: SCTY). Since its founding in 1969, the firm has invested in more than 520 companies, resulting in 114 IPOs and more than 160 mergers or acquisitions. Mayfield is currently investing Mayfield XIV in U.S.-based and cross-border companies and Mayfield India II in India-based companies. Mayfield also invests in China-based companies directly and alongside its partner, GSR Ventures. For more information, please contact kramani@mayfield.com or visit www.mayfield.com.

 

Kamini Ramani
kramani@mayfield.com
www.mayfield.com

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(OMCL) at Deutsche Bank 41st Annual Health Care Conference

MOUNTAIN VIEW, Calif., April 29, 2016  — Omnicell, Inc. (NASDAQ:OMCL), a leading provider of medication and supply management solutions and analytics software for health care facilities, today announced they will present at the Deutsche Bank 41st annual Health Care Conference at the InterContinental Boston Hotel, Boston, MA.

Omnicell Speakers: Randall A. Lipps, founder, chairman, president & CEO and Peter Kuipers, executive vice president & CFO

Date: Thursday, May 5, 2016
Time: 12:50 p.m. ET
Location: InterContinental Boston Hotel, Boston, MA
Availability: The audio-webcast of the live presentation may be accessed by visiting:
http://ir.omnicell.com/events.cfm

Following the conference, a replay of the audio-webcast will be archived for 90 days on the Omnicell website.

About Omnicell
Since 1992, Omnicell (NASDAQ: OMCL) has been creating innovative solutions to improve patient care, anywhere it is delivered. Omnicell is a leading supplier of comprehensive automation and business analytics software for medication and supply management across the entire health care continuum—from the acute care hospital setting, to post-acute skilled nursing and long-term care facilities, to the patient’s home.

Over 4,000 customers worldwide use Omnicell automation and analytics solutions to increase operational efficiency, reduce medication errors, deliver actionable intelligence and improve patient safety. The recent acquisition of Aesynt adds distinct capabilities, particularly in central pharmacy and IV robotics, creating the broadest medication management product portfolio in the industry.

The Omnicell SureMed solution provides innovative medication adherence packaging to help reduce costly hospital readmissions. In addition, these solutions enable approximately 7,000 institutional and retail pharmacies worldwide to maintain high accuracy and quality standards in medication dispensing and administration while optimizing productivity and controlling costs.

For more information about Omnicell, Inc. please visit www.omnicell.com.

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(TIVO) Rovi to Acquire TiVo, Creating $3 Billion Entertainment Technology Leader

  • Two of the industry’s most influential players join forces to transform media and entertainment technology
  • Best-in-class products and services to capitalize on evolving entertainment marketplace
  • Combined IP portfolios of over 6,000 issued patents and pending applications
  • $100 million in annual cost synergies – accretive to Rovi’s Non-GAAP EPS within the first 12 months
  • Adopting “TiVo” as new company name
  • Companies to host joint conference call today at 8:00 a.m. ET

Rovi Corporation (NASDAQ: ROVI) and TiVo Inc. (NASDAQ: TIVO) today announced that Rovi will acquire TiVo for $10.70 per share in cash and stock for total consideration of approximately $1.1 billion. The new company combines two media and entertainment technology innovators with complementary products, services, and intellectual property assets and a common mission to write the next chapter of the consumer entertainment experience. The company will continue to be led by Tom Carson and upon closing of the transaction will adopt the iconic TiVo brand as the new company name.

“Rovi’s acquisition of TiVo, with its innovative products, talented team, and substantial intellectual property portfolio, strengthens Rovi’s position as a global leader in media discovery, metadata, analytics, and IP licensing,” said Tom Carson, CEO of Rovi. “It’s an exciting time as the media and entertainment landscape undergoes a significant evolution. The combined capabilities of TiVo and Rovi place us in a tremendous position to extend services across platforms and to a customer base that includes traditional, over-the-top and emerging players across the globe. By working together, Rovi and TiVo will revolutionize how consumers experience media and entertainment and at the same time build value for our stockholders.”

“We’re proud of TiVo’s strong innovation history and of the ongoing efforts of our team to provide best-in-class products for our loyal consumer and service provider customers,” said Naveen Chopra, Interim CEO and CFO of TiVo. “This transaction is the culmination of those efforts and the logical next step for TiVo. In joining forces with Rovi, our customers, employees and stockholders will benefit from being part of a more diversified industry leader with significantly greater market opportunities. Our combination creates a more influential global player with a commitment to product innovation, which will be incredibly well positioned to redefine television.”

Natural Synergy, Strong Business

This transaction brings together the technology and products required to achieve the company’s strategic goals and deliver substantial stockholder value.

  • TiVo’s leadership in user experience and content discovery brings together traditional television, OTT and on-demand content into one experience across devices
  • Rovi’s strength in guides, personalization, advertising, analytics and cloud services
  • On a pro forma basis, for the twelve months ended December 31, 2016, the combined company is estimated to have more than $800 million in revenue after purchase accounting adjustments
  • The combined company is expected to realize at least $100 million in annual cost synergies, with 65 percent of these synergies recognized in the first 12 months
  • The expected synergies are in addition to TiVo’s targeted current year $32 million Adjusted EBITDA increase from restructuring and margin improvements
  • The transaction is expected to be accretive to Rovi’s Non-GAAP EPS within the first 12 months post-close

Shared Customers, Global Reach

Rovi and TiVo serve many of the largest pay-TV operators both in the U.S. and around the world.

  • Combined benefits include enhanced global reach, serving nearly 500 service providers across countries, adding more than 10 million TiVo-served households to Rovi’s current base of approximately 18 million households using Rovi guides worldwide
  • Solutions will be integrated to deliver enhanced customer value and to strengthen relationships with top partners

Unique Company, Further Innovation

  • The transaction will create a company with a large presence in the consumer, consumer electronic, service provider and web-scale marketplaces
  • TiVo has played an iconic role in ushering in over a decade of rapid change in how consumers find, select, and watch television. These consumer innovations have also been successfully deployed for the benefit of service providers around the world
  • Rovi and TiVo have invested over $1.5 billion in R&D over the past 10 years. Few companies have had a greater impact on the evolution of TV and video.
  • This powerful combination of consumer innovation and service provider distribution will continue to be a unique asset of the combined company and will be further enhanced by Rovi’s prowess in areas like metadata, conversational search, and data analytics

Strong Intellectual Property Portfolios and Licensing Business

Together, Rovi and TiVo have worldwide portfolios of over 6,000 issued patents and pending applications worldwide.

  • Both Rovi and TiVo have been successful in monetizing their innovations and intellectual property, with more than $3 billion in combined IP licensing revenues and past damage awards
  • TiVo’s IP assets, combined with Rovi’s recent OTT partnership with Intellectual Ventures, further strengthens the company’s collective position as a leading provider of intellectual property in media and entertainment discovery

The Most Powerful Analytics in the Industry

The combined company will offer the industry’s most powerful analytics platform dedicated to media and entertainment, helping service providers and media companies strengthen consumers’ connections to the content they love.

  • Industry leading monetization products for services providers, advertisers and media companies, with access to data from multiple platforms including television, mobile and cloud services
  • TiVo’s unique cross-device viewership data merged with Rovi’s analytics tools will enable better targeting of media spend, improved advertising inventory yield and the creation of targeted advertising capabilities for service providers, advertisers and media companies
  • TiVo’s cross-device viewership data will enhance Rovi’s Operator Insights and Subscriber Analytics tools to give service providers more visibility and more precise methods to improve customer retention and manage churn

***

Transaction Terms

  • Rovi will acquire TiVo for $10.70 per share in cash and stock, approximately $1.1 billion in aggregate consideration
  • Rovi will pay $2.75 per share in cash, or approximately $277 million, subject to adjustment as described under the collar mechanism below
  • The remainder, $7.95 per share, will be paid in shares of common stock of a new holding company that will own both Rovi and TiVo
  • Number of shares to be issued to TiVo stockholders will be calculated based on Rovi’s average VWAP over the 15 trading days ending on the third trading day prior to close (the Average Rovi Stock Price) and subject to the collar mechanism described below
  • Rovi stockholders will own one share of the new holding company for each share of Rovi common stock owned as of the closing
  • Offer represents a premium of approximately 40 percent over TiVo’s closing price of $7.66 on March 23, 2016, the last trading day prior to media speculation about a possible transaction
  • Stock component of the consideration is expected to be a tax-free exchange to TiVo stockholders
  • Cash consideration will be financed from cash on hand in the combined company, and the combined company is expected to have $150 – $270 million on hand at closing

The Board of Directors of the combined company will include participation from TiVo’s current Board.

Collar Mechanism

The stock consideration is subject to a two-way collar between Average Rovi Stock Prices of $16.00 and $25.00.

If Rovi’s stock price increases between the agreement date and the closing, TiVo stockholders will receive fewer shares (a lower exchange ratio) until the Average Rovi Stock Price reaches $25.00, at which point the exchange ratio will be fixed at 0.3180 per share.

Conversely, if Rovi’s share price decreases between signing and closing, TiVo stockholders will receive more shares (a higher exchange ratio) until the Average Rovi Stock Price reaches $18.71. Between an Average Rovi Stock Price of $18.71 (exchange ratio of 0.4250 per share) and $16.00 (exchange ratio of 0.4969 per share), Rovi has the option to pay additional cash instead of issuing more shares. If the Average Rovi Stock Price is below $16.00, Rovi may set the exchange ratio, in its sole discretion, between 0.4250 and 0.4969. If Rovi makes this election, the per share cash amount will be $10.70 minus the product of the Average Rovi Stock Price and the applicable exchange ratio that Rovi elects. In no event will the cash amount be more than $3.90 per share.

Post-transaction, current Rovi stockholders will own between 66.8 percent and 72.9 percent of the pro forma shares outstanding in the new holding company, assuming that at Average Rovi Stock Prices between $16.00 and $18.71 Rovi elects to provide more cash consideration rather than incremental shares.

Approvals Required

The boards of both companies have approved the transaction. The transaction is subject to customary closing conditions, including approval by TiVo’s and Rovi’s stockholders at special meetings to be held in connection with the transaction as well as clearance under the Hart-Scott-Rodino Antitrust Improvements Act. The companies believe that they will be able to obtain the requisite clearances on a timely basis and the transaction is expected to close in Q3 of 2016.

NOL Rights Plan

Concurrent with the approval of this transaction, Rovi’s Board approved the adoption of a Stockholder Rights Plan (the NOL Rights Plan,) designed to protect Rovi’s $1.2 billion federal Net Operating Losses (NOLs) from the effect of Section 382 under the US Internal Revenue Code, which can limit the use of the NOLs. The completion of the TiVo deal would move Rovi significantly closer to the 50 percent ownership change outlined in Section 382 and increase the likelihood of a loss of Rovi’s valuable NOLs. Rovi believes that its tax attributes represent an important corporate asset that can provide long-term stockholder benefits and should be protected. The NOL Rights Plan is similar to those adopted by numerous other public companies with significant tax assets. The NOL Rights Plan is set to expire at the earlier of completion or termination of the TiVo transaction. It is proposed that the certificate of incorporation of the new holding company will include a provision that would prohibit transfers of the holding company’s common stock that would adversely affect the holding company’s NOL tax asset following the closing. The stockholders of Rovi will be provided the opportunity to vote on the new holding company charter in connection with the approval of the transaction. Following the closing, the holding company board will, from time to time, review whether the continued effectiveness of the charter provision and any NOL Rights Plan that may be adopted continues to be in the best interests of the combined company and its stockholders.

Advisors

Evercore is serving as financial advisor to Rovi and Cooley LLP is serving as legal counsel. LionTree Advisors is serving as financial advisor to TiVo and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel.

Conference Call and Webcast Information

Rovi will host a conference call on Friday, April 29, 2016, at 8:00 a.m. Eastern Time (5:00 a.m. Pacific Time) to discuss the transaction and Q1 financial results. A representative of TiVo will also join the call. Investors and analysts interested in participating in the conference are welcome to call 1-866-621-1214 (or international +1-706-643-4013) and reference conference ID 3449304. The conference call can also be accessed via live webcast in the Investor Relations section of Rovi’s website at http://www.rovicorp.com/.

A replay of the audio webcast will be available on Rovi Corporation’s website shortly after the live call ends and will remain on Rovi Corporation’s website until its next quarterly earnings call. Additionally, a telephonic replay of the conference call will be available through May 6, 2016 and can be accessed by calling 1-800-585-8367 (or international +1-404-537-3406) and entering conference ID 3449304.

No Offer or Solicitation

The information in this communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. 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, and otherwise in accordance with applicable law.

Non-GAAP Information

Non-GAAP EPS is defined as diluted earnings per share from continuing operations, adding back non-cash items such as equity-based compensation, amortization of intangibles, amortization or write-off of note issuance costs, non-cash interest expense recorded on convertible debt under Accounting Standards Codification (“ASC”) 470-20 (formerly known as FSP APB 14-1), mark-to-market fair value adjustments for interest rate swaps; as well as items which impact comparability that are required to be recorded under GAAP, but that the Company believes are not indicative of its core operating results such as changes in the fair value of contingent consideration, gains from the release of Sonic payroll tax withholding liabilities related to a stock option review, transaction, transition and integration costs, contested proxy election costs, restructuring and asset impairment (benefit) charges, payments to note holders and for expenses in connection with the early redemption or modification of debt, gains on sale of strategic investments and discrete income and franchise tax items, including changes in reserves.

TiVo’s “EBITDA” means income before interest income and expense, provision for income taxes and depreciation and amortization. TiVo’s “Adjusted EBITDA” is EBITDA adjusted for acquisition related charges for retention earn-outs payable to former shareholders of the business we acquired and changes in fair value of acquired business’ performance related earn-outs, transition and restructuring charges, pre-tax, stock-based compensation, litigation expenses associated with litigation matters (whether or not initiated by us) which have the potential to result in revenue generation and litigation proceeds attributable to past damage awards, but includes litigation proceeds recognized as technology licensing revenue.

Forward-Looking Statements

This press release contains “forward-looking” statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the proposed acquisition of TiVo, the integration of TiVo’s IP assets into Rovi’s products and solutions offerings, Rovi’s plans for such offerings and customer demand for such offerings, enhanced global reach, anticipated combined company revenue, synergies and financial results, future product offerings and expected transaction timing. A number of factors could cause Rovi’s and TiVo’s actual results to differ from anticipated results expressed in such forward-looking statements. Such factors include, among others, 1) uncertainties as to the timing of the consummation of the transaction and the ability of each party to consummate the transaction; 2) uncertainty as to the actual premium that will be realized by TiVo stockholders in connection with the proposed transaction; 3) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the transaction or integrating the businesses of Rovi and TiVo; 4) uncertainty as to the long-term value of the combined companies’ common stock; 5) unpredictability and severity of natural disasters; 6) adequacy of Rovi’s or TiVo’s risk management and loss limitation methods; 7) the resolution of intellectual property claims; 8) seasonal trends that impact consumer electronics sales; 9) the combined companies’ ability to implement their business strategy; 10) adequacy of Rovi’s, TiVo’s or the combined companies’ loss reserves; 11) retention of key executives by Rovi and TiVo; 12) intense competition from a number of sources; 13) potential loss of business from one or more major licensees; 14) general economic and market conditions; 15) the integration of businesses the combined companies may acquire or new business ventures the combined companies may start; 16) evolving legal, regulatory and tax regimes; 17) the expected amount and timing of cost savings and operating synergies; 18) failure to receive the approval of the stockholders of either Rovi or TiVo; 19) litigation related to the transaction; 20) unexpected costs, charges or expenses resulting from the transaction; and 21) other developments in the DVR and advanced television solutions market, as well as management’s response to any of the aforementioned factors. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere, including the Risk Factors included in Rovi’s Annual Report on Form 10-K for the period ended December 31, 2015 and Rovi’s Quarterly Report on Form 10-Q for the period ended March 31, 2016, TiVo’s Annual Report on Form 10-K for the period ended January 31, 2016, and other securities filings which are on file with the Securities and Exchange Commission (available at www.sec.gov). Neither company assumes any obligation to update any forward-looking statements except as required by law.

ADDITIONAL INFORMATION ABOUT THE PROPOSED TRANSACTION AND WHERE TO FIND IT

This communication is not a solicitation of a proxy from any stockholder of Rovi, Titan Technologies Corporation or TiVo. In connection with the Agreement and Plan of Merger among Rovi, TiVo, Titan Technologies Corporation (“Parent”), Nova Acquisition Sub, Inc. and Titan Acquisition Sub, Inc., Rovi, TiVo and Parent intend to file relevant materials with the SEC, including a Registration Statement on Form S-4 filed by Parent that will contain a joint proxy statement/prospectus. ROVI AND TIVO STOCKHOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT ROVI, TIVO, PARENT AND THE PROPOSED TRANSACTION. Stockholders may obtain a free copy of the joint proxy statement/prospectus (when it becomes available), as well as any other documents filed by Rovi, Parent and TiVo with the Securities and Exchange Commission, at the Securities and Exchange Commission’s Web site at http://www.sec.gov. Stockholders may also obtain a free copy of the joint proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the joint proxy statement/prospectus from Rovi by directing a request to Rovi Investor Relations at +1-818-565-5200 and from TiVo by directing a request to MacKenzie Partners, Inc., 105 Madison Avenue, New York, New York, 10016, (212) 929-5500, proxy@mackenziepartners.com.

PARTICIPANTS IN THE SOLICITATION

Rovi, Parent, TiVo and their respective directors and executive officers and other members of their management and employees may be deemed, under Securities and Exchange Commission rules, to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding Rovi’s directors and officers can be found in its proxy statement filed with the Securities and Exchange Commission on March 10, 2016 and information regarding TiVo’s directors and officers can be found in its proxy statement filed with the Securities and Exchange Commission on June 1, 2015. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests in the transaction, by security holdings or otherwise, will be contained in the Form S-4 and the joint proxy statement/prospectus that Parent will file with the Securities and Exchange Commission when it becomes available. Stockholders may obtain a free copy of these documents as described in the preceding paragraph.

©Rovi 2016. Rovi is a registered trademark of Rovi Corporation. TiVo is a registered trademark of TiVo Inc. and/or its subsidiaries. All other brands and product names and trademarks are the registered property of their respective companies.

About TiVo

TiVo Inc. (NASDAQ: TIVO) is a global leader in next-generation television services. With global headquarters in San Jose, CA and offices in New York, NY, Durham, NC, and Warsaw, Poland, TiVo’s innovative cloud-based Software-as-a-Service solutions enable viewers to consume content across multiple screens in and out-of-the home. The TiVo solution provides an all-in-one approach for navigating the ‘content chaos’ by seamlessly combining live, recorded, on-demand and over-the-top television into one intuitive user interface with simple universal search, discovery, viewing and recording from a variety of devices, creating the ultimate viewing experience. TiVo products and services are available at retail or through a growing number of pay-TV operators worldwide. TiVo’s multiple subsidiary companies provide the broader television industry and consumer electronics manufacturers with set-top box, cloud-based video discovery and recommendation options, interactive advertising solutions, and audience research and measurement services. More information at: www.TiVo.com.

About Rovi

Rovi Corporation (NASDAQ: ROVI) is creating personalized and data-driven ways for viewers to discover the right entertainment and for providers to discover the right audiences. Chosen by top brands in entertainment content, services and devices, Rovi touches the lives of hundreds of millions of consumers by providing comprehensive solutions, customizable products and technology licensing to make discovery simple, seamless and personal. With more than 5,000 issued or pending patents worldwide, Rovi is advancing entertainment and audience discovery. Learn more at www.rovicorp.com or follow us on Twitter @rovicorp.com.

Rovi Corporation
Press:
Ricca Silverio
Vice-President, Finn Partners
+1-949-439-7869
ricca.silverio@finnpartners.com
or
Howard Solomon
Managing Partner, Finn Partners
+1-415-272-0767
howard.solomon@finnpartners.com
or
Investors:
Peter Ausnit
VP, Investor Relations
+1-818-565-5200
peter.ausnit@rovicorp.com
or
TiVo
Press:
Steve Wymer
VP, Communications
+1-408-519-9254
swymer@tivo.com
or
Investors:
Derrick Nueman
VP, Investor Relations
+1-408-519-9677
dnueman@tivo.com

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(WPCS) Appoints Sebastian Giordano as Its Chief Executive Officer

Company Expects Solid Growth in 2017

SUISUN, CA–(Apr 29, 2016) – WPCS International Incorporated (NASDAQ: WPCS), which specializes in low voltage communications and security contracting services, today announced that it has appointed Sebastian Giordano, 58, as Chief Executive Officer of the Company, removing the “Interim” label from his title.

Speaking on behalf of the Board of Directors, Mr. Charles Benton stated, “Since assuming the Interim CEO role in August 2013, Sebastian has demonstrated outstanding leadership skills in crafting and executing a thorough and successful restructuring of WPCS under very challenging circumstances. He now has the Company positioned to implement an exciting growth strategy that the Board fully supports. With the new fiscal year starting on May 1st, the Board believes this was the right time to take such action.”

Giordano added, “While I continue to be humbled and honored by the Board’s ongoing support, righting the ship was a total team effort; a team that fully expects to deliver strong results in fiscal 2017 and beyond.”
.
ABOUT WPCS INTERNATIONAL INCORPORATED

WPCS provides low voltage communication and security contracting services to the public services, healthcare, energy and corporate enterprise markets in the United States. For more information, please visit www.wpcs.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements with respect to the Company’s future growth opportunities and strategic plan. 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. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. 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.

INVESTOR CONTACT

WPCS International Incorporated
Mr. David Allen
Chief Financial Officer
Phone: 707.759.6008
Email: Email Contact

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(AMZN) to Open New Pickup Location Near University of Connecticut

Amazon Student and Amazon Prime members will get Free One-Day Pickup on millions of items when shipped to the Amazon pickup location

This will be the first Amazon pickup location in Connecticut

(NASDAQ: AMZN)–Amazon today announced a new fully staffed pickup location near the University of Connecticut campus. The Amazon pickup location, the first in Connecticut, offers the UConn community a convenient location to pick up and return Amazon orders, including virtually everything one needs for life on campus, from everyday essentials to technology.

Opening in Summer 2016, this nearly 4,000-square-foot space will be located at 40 Wilbur Cross Way in Storrs Center, centrally located near the university and easily accessible to students and the greater Storrs community. Additionally, Amazon Student and Prime members will receive Free One-Day Pickup on millions of items. To learn more about Amazon Student, visit amazon.com/joinstudent.

“We are excited to bring an Amazon pickup location to the UConn and greater Storrs community,” said Ripley MacDonald, Director of Amazon Student Programs. “Whether students are ordering college essentials, electronics or snacks, Amazon will provide a convenient and secure spot for them to pick up their stuff at hours that work with their schedules.”

Since 2015, Amazon has opened staffed pickup locations at the following universities: Purdue University, University of Massachusetts Amherst, and University of California, Berkeley, as well as in the college communities of University of California, Santa Barbara, and University of Cincinnati. Amazon will also open more locations in 2016, including: University of Pennsylvania, University of California, Davis, The University of Texas at Austin, The Georgia Institute of Technology and California State University, Long Beach, as well as in the college community of University of Akron.

About Amazon Student

Amazon Student gives college students Free Two-Day Shipping on millions of items, and special offers and promotions created just for students as part of the six-month free trial. After that it’s just $49 a year—half the price of a regular Amazon Prime membership—and includes unlimited streaming of movies and TV shows with Prime Video, over a million songs with Prime Music, and access to the Kindle Owners’ Lending Library. To learn more, visit amazon.com/joinstudent.

About Amazon

Amazon.com opened on the World Wide Web in July 1995. The company is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about.

 

Amazon.com, Inc.
Media Hotline, 206-266-7180
Amazon-pr@amazon.com
www.amazon.com/pr

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(DWA) To Be Acquired By (CMCSA)

Acquisition Builds on NBCUniversal’s Presence in Family and Animation Space – DreamWorks Animation to Become Unit of Universal Filmed Entertainment Group

NBCUniversal, a division of Comcast Corporation (NASDAQ: CMCSA), today announced the acquisition of DreamWorks Animation (NASDAQ: DWA). One of the world’s most admired family brands, DreamWorks Animation creates animated feature films, television series and specials, live entertainment and related consumer products. The studio will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures, Fandango, and NBCUniversal Brand Development.

“DreamWorks Animation is a great addition to NBCUniversal,” said Steve Burke, CEO of NBCUniversal. “Jeffrey Katzenberg and the DreamWorks organization have created a dynamic film brand and a deep library of intellectual property. DreamWorks will help us grow our film, television, theme parks and consumer products businesses for years to come. We have enjoyed extraordinary success over the last six years in animation with the emergence of Illumination Entertainment and its brilliant team at Illumination Mac Guff studio. The prospects for our future together are tremendous. We are fortunate to have Illumination founder Chris Meledandri to help guide the growth of the DreamWorks Animation business in the future.”

Under the terms of the agreement, DreamWorks Animation has an equity value of approximately $3.8 billion. DreamWorks Animation stockholders will receive $41 in cash for each share of DreamWorks Animation common stock. The agreement has been approved by the boards of directors of DreamWorks Animation and Comcast, and the controlling shareholder of DreamWorks Animation has approved the agreement by written consent.

The transaction is expected to close by the end of 2016, subject to receipt of antitrust approvals in the U.S. and abroad, as well as the satisfaction of other customary closing conditions.

Following the completion of the transaction, DreamWorks Animation CEO and co-founder Jeffrey Katzenberg will become Chairman of DreamWorks New Media, which will be comprised of the company’s ownership interests in Awesomeness TV and NOVA. Katzenberg will also serve as a consultant to NBCUniversal.

“Having spent the past two decades working together with our team to build DreamWorks Animation into one of the world’s most beloved brands, I am proud to say that NBCUniversal is the perfect home for our company; a home that will embrace the legacy of our storytelling and grow our businesses to their fullest potential,” said Katzenberg. “This agreement not only delivers significant value for our shareholders, but also supports NBCUniversal’s growing family entertainment business. As for my role, I am incredibly excited to continue exploring the potential of AwesomenessTV, NOVA and other new media opportunities, and can’t wait to get started.”

The acquisition gives NBCUniversal broader reach to a host of new audiences in the highly competitive kids and family entertainment space, in both TV and film. It includes popular DreamWorks Animation film franchise properties, such as Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon. It also includes a thriving TV operation that is a significant supplier of family programming, with hundreds of hours of original, animated content distributed across linear and SVOD platforms in more than 130 countries. Additionally, DreamWorks Classics, a large library of classic characters, including Where’s Waldo, and Rudolph the Red-Nosed Reindeer, will become part of the NBCUniversal portfolio, along with a successful consumer products business.

Comcast was advised by Davis Polk & Wardwell LLP on legal matters. DreamWorks Animation was advised on financial matters by Centerview Partners and on legal matters by Cravath, Swaine & Moore LLP. DreamWorks Animation’s Board of Directors was advised on legal matters by Munger Tolles & Olson LLP.

About NBCUniversal

NBCUniversal is one of the world’s leading media and entertainment companies in the development, production, and marketing of entertainment, news and information to a global audience. NBCUniversal owns and operates a valuable portfolio of news and entertainment television networks, a premier motion picture company, significant television production operations, a leading television stations group, world-renowned theme parks, and a suite of leading Internet-based businesses. NBCUniversal is a division of Comcast Corporation.

About DreamWorks Animation

DreamWorks Animation (Nasdaq: DWA) is a global family entertainment company with business interests that span feature film and television production; licensing and consumer products; location-based entertainment; and new media properties, including the Company’s controlling interest in AwesomenessTV. The Company’s feature film heritage includes many of the world’s most-beloved characters and franchises, including ShrekMadagascarKung Fu Panda and How to Train Your Dragon, while its 32 feature film releases have amassed more than $13 billion in global box office receipts. DWA’s television business has quickly become one of the world’s leading suppliers of high-quality family programming, reaching consumers on linear and on-demand platforms in more than 130 countries and winning a total of 25 Emmy™ Awards to date. The Company’s deep portfolio of intellectual property is supported by a robust, worldwide consumer products practice, which includes licensing, and location-based entertainment venues around the world. The Company is also the majority owner of AwesomenessTV, a leading video destination for Generation Z and Millennial audiences, and also owns 45% of Oriental DreamWorks, a world-class animation studio in China that produces family entertainment for both Chinese and global audiences.

NOTE: This press release contains forward-looking statements. Readers are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual events or our actual results to differ materially from those expressed in any such forward-looking statements. Such forward-looking statements include the possible benefits of the proposed DreamWorks Animation acquisition to the NBCUniversal business. Readers are directed to Comcast’s and DreamWorks Animation’s periodic and other reports filed with the Securities and Exchange Commission (SEC) for a description of such risks and uncertainties. Neither Comcast nor DreamWorks Animation undertakes any obligation to update any forward-looking statements.

 

Press Contacts:
NBCUniversal
Hilary Smith, 212-664-2617
Hilary.Smith@nbcuni.com
or
Universal Filmed Entertainment
Teri Everett, 818-777-7216
Teri.Everett@nbcuni.com
or
DreamWorks Animation
Dan Berger, 818-695-4747
Dan.Berger@dreamworks.com
or
Investor Contacts:
Comcast
Jason Armstrong, 215-286-7972
Jason_Armstrong@Comcast.com
or
DreamWorks Animation
Jennifer DiGrazia, 818-695-3384
Jennifer.DiGrazia@dreamworks.com

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(NHLD) & (FBIO) Announce Share Tender Offer Agreement

Subsidiary of Fortress Biotech to Make $3.25/Share Tender Offer for All Outstanding National Holdings Shares If Less Than 80% of Outstanding Shares Are Tendered, National Holdings Will Remain Publicly-Traded Shareholders Post-Tender Offer to Receive From National a 5-Year Warrant With an Exercise Price of $3.25 if National Holdings Remains Publicly-Traded, Subject to Certain Conditions Fortress Biotech to Implement a New Business Plan That Cuts Costs and Enhances the Platform of Offerings for the 800+ Independent Advisors and Their Clients Investment Banking Operations Will Initially Focus on Building a World-class Biotech/Life Sciences Franchise With Additional Key Verticals to Follow

NEW YORK, NY–(April 28, 2016) – National Holdings Corporation (NASDAQ: NHLD) (“National Holdings” or “NHLD”), a full-service investment banking and asset management firm, and Fortress Biotech, Inc. (NASDAQ: FBIO) (“Fortress” or “FBIO”), a biopharmaceutical company dedicated to acquiring, developing and commercializing novel pharmaceutical and biotechnology products, announce today that the two firms have entered into a definitive agreement (the “Agreement”) pursuant to which Fortress will offer to purchase, through its wholly owned subsidiary, FBIO Acquisition, Inc., up to 100% of the shares of National Holdings at $3.25 per share in cash. The offer price represents a premium of ~44% over the closing price of NHLD common stock on April 27, 2016, the last trading day prior to today’s announcement.

National Holdings’ board of directors has approved the Agreement and is remaining neutral and making no recommendation to the NHLD shareholders as to whether to accept the offer and tender their shares pursuant to the offer.

If more than 80% of the NHLD shares are tendered in the offer, NHLD will undergo a merger and will no longer be a public company. Following the closing of the tender offer, if less than 80% of the NHLD shares are tendered in the offer, NHLD will remain a publicly-traded company. In such event, shareholders post-tender offer will receive from NHLD a five year warrant per held share to purchase an additional share of NHLD common stock at $3.25. NHLD will distribute the warrant to its holders of record as of a date not later than 90 days following the closing of the tender. NHLD shareholders who did not tender and are still holders of record as of such date will receive the warrant.

Following the closing of the tender offer, regardless of the number of shares purchased, Fortress will have the right to appoint a majority of the board of NHLD.

Fortress will commence the tender offer as promptly as practicable and in no event later than 30 days after the date the Financial Industry Regulatory Authority (“FINRA”) declares the application required under NASD Rule 1017 regarding the potential change of control of the broker-dealer subsidiaries of the Company as substantially complete. The consummation of the Offer is not subject to any financing condition or any condition regarding any minimum number of shares being validly tendered in the Offer but is subject to certain customary conditions.

Michael S. Weiss, Vice Chairman of FBIO and former Chairman of NHLD commented on the transaction, “We are very excited to be able to bring the National team under the Fortress Biotech umbrella. We have worked closely with NHLD over the years and believe strongly in the people, their overall business and in particular their unique ability to finance emerging biotech companies. We plan to enhance their biotech and life science investment banking franchise into a leader in the field, while also identifying important additional verticals to broaden their breadth of product offerings for their clientele. We are additionally excited about the opportunity of growing NHLD’s diverse platform, including asset management, insurance, tax planning and mortgage businesses. Mr. Weiss continued, “The deal as structured will provide a unified board and management team with a shareholder base all aligned with a single vision to create a more dynamic and profitable NHLD.”

Robert Fagenson, CEO and Chairman of NHLD commented on the transaction, “Management and the Board of NHLD are extremely excited about this transaction. We believe we have provided our shareholders with two compelling options moving forward. For those who are interested in liquidating their position, we have found a buyer at a significant premium to our current share price. For those shareholders who want to continue with the Company and share the Fortress vision for NHLD, we intend to distribute a 5 year warrant at the same price as the tender offer, which we believe provides a very attractive opportunity to participate in the future of NHLD. Mr. Fagenson continued, “Everyone at NHLD believes in the great potential of our Company and we believe this transformational deal will create an expanded platform that will lead to more corporate advisory business, institutional brokerage and enhance National’s overall reputation as a well-respected and valued corporate advisor. Finally, the depth of the FBIO team’s expertise in life sciences and biotech should expand our already strong healthcare banking franchise. We look forward to working with the FBIO team to make NHLD a leading financial services business, with a top tier biotech/life sciences franchise.”

About National Holdings Corporation

National Holdings Corporation is a full-service investment banking and asset management firm that provides a range of services, including independent retail brokerage and advisory services, investment banking, institutional sales and trading and equity research, financial planning, market making, tax preparation, insurance and annuities, to corporations, institutional investors and high net-worth clients. With over 1,100 independent advisors, brokers, traders and sales associates, the Company is a leading Independent Advisor and Broker services company. National Holdings operates through five subsidiaries: National Securities Corporation, vFinance Investments, Inc., National Insurance Corporation, National Asset Management, Inc. and Gilman Ciocia, Inc. The Company was founded in 1947 and is headquartered in New York and Florida. For more information, visit www.nhldcorp.com.

About Fortress Biotech

Fortress Biotech, Inc. is a biopharmaceutical company dedicated to acquiring, developing and commercializing novel pharmaceutical and biotechnology products. Fortress plans to develop and commercialize products both within Fortress and through subsidiary companies, also known as Fortress Companies. In addition to its internal development programs, Fortress will leverage its biopharmaceutical business expertise and drug development capabilities to help the Fortress Companies achieve their goals. Additionally, Fortress will provide funding and management services to each of the Fortress Companies and, from time to time, Fortress and the Fortress Companies will seek licensing, partnerships, joint ventures and/or public and private financings to accelerate and provide additional funding to support their research and development programs. For more information, visit www.fortressbiotech.com.

Important Additional Information

The offer described in this document has not yet commenced, and this document is neither an offer to purchase nor a solicitation of an offer to sell securities. At the time the offer is commenced, Fortress will file a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents with the Securities and Exchange Commission (the “Commission”), and NHLD will file a solicitation/recommendation statement on Schedule 14D-9 with respect to the offer with the Commission. The offer to purchase the shares of NHLD will only be made pursuant to the offer to purchase, the letter of transmittal and related documents filed as a part of the Schedule TO. SECURITY HOLDERS AND OTHER INVESTORS ARE URGED TO READ THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. The offer to purchase, the related letter of transmittal and certain other offer documents, as well as the solicitation/recommendation statement, will be made available to investors and security holders at no expense to them. The tender offer statement and the solicitation/recommendation statement will be made available for free at the Commission’s web site at www.sec.gov. Free copies of these materials and certain other offering documents will be made available by the information agent for the offer.

In addition to the solicitation/recommendation statement, NHLD files annual, quarterly and special reports, proxy statements and other information with the Commission. In addition to the tender offer statement, Fortress files annual, quarterly and special reports, proxy statements and other information with the Commission. You may read and copy any reports, statements or other information filed by NHLD and Fortress at the SEC Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. NHLD’s and Fortress’ filings with the Commission are also available to the public from commercial document-retrieval services and at the website maintained by the Commission at www.sec.gov.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the safe harbor provisions of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and are based on current expectations that involve a number of risks and uncertainties. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements about the planned completion of the offer and the merger. Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will be achieved or accomplished. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statement, many of which are outside of the control of management. These factors include, but are not limited to: (i) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; (ii) successful completion of the proposed transaction on a timely basis; (iii) uncertainties as to how many of the NHLD shareholders will tender their shares into the tender offer; (iv) the impact of regulatory reviews on the proposed transaction; (v) the outcome of any legal proceedings that may be instituted against one or both of Fortress and NHLD and others following the announcement of the merger agreement; (vi) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the transaction; and (vii) other factors described in NHLD’s and Fortress’ filings with the Commission, including the reports on Forms 10-K, 10-Q, and 8-K. Except to the extent required by applicable law, neither Fortress undertakes any obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future results or otherwise.

Contacts:
National Holdings Corporation
Robert Fagenson
Executive Chairman & Chief Executive Officer
Tel: +1 212 417 8050

LHA

Ed McGregor/Jody Burfening
Tel: +1 212 838 3777
emcgregor@lhai.com

Fortress Biotech, Inc.

Lucy Lu, MD
Executive Vice President & Chief Financial Officer
Tel: +1 781-652-4500
ir@fortressbiotech.com

Thursday, April 28th, 2016 Uncategorized Comments Off on (NHLD) & (FBIO) Announce Share Tender Offer Agreement

(DHRM) Receives US$20 Million Strategic Investment from Liaison Interactive

BEIJING, April 28, 2016  — Dehaier Medical Systems Ltd. (Nasdaq: DHRM) (“Dehaier Medical” or the “Company”), which develops, markets and sells medical devices and wearable sleep respiratory products in China and international markets, today announced that it entered into a definitive securities purchase agreement (the “Agreement”) with Hangzhou Liaison Interactive Information Technology Co. Ltd. (“Liaison Interactive” or the “Purchaser”), a publicly listed company on the Shenzhen Stock Exchange (Trading Ticker: 002280) pursuant to which the Liaison Interactive has agreed to purchase 11,111,111 restricted common shares of the Company (the “Shares”) for an aggregate of US$20,000,000 (the “Purchase Price”). The Purchase Price is US$1.80 per share, which represents a 35% premium to Dehaier Medical’s closing price of $1.33 on April 27, 2016.

In consideration of the payment by the Buyer of the Purchase Price, the Buyer and its designees will also receive warrants to purchase 1,000,000 restricted common shares of the Company at a purchase price of US$2.20 per share (the “Warrants”).  The Warrants are exercisable by the Buyer or its designees in whole or in part and are exercisable at any time after the Closing.

The Shares issued to the Purchaser have not been and are not being registered under the 1933 Act, and may not be offered for sale, sold, assigned or transferred unless (A) subsequently registered thereunder or (B) the Buyer shall have delivered to the Company an opinion of counsel, in a form reasonably acceptable to the Company, to the effect that such Shares to be sold, assigned or transferred may be sold, assigned or transferred pursuant to an exemption from such registration. Closing under the Agreement is subject to compliance with customary closing conditions and is anticipated to occur on or before June 30, 2016.

“The Liaison Interactive investment dramatically improves our ability to expand our wearable medical device business and to launch other new smart wearable devices and mobile medical solutions over the next few years,” said Mr. Ping Chen, Chief Executive Officer of Dehaier Medical. “The investment also helps optimize our overall strategies, increase our market penetration and strengthen our competitiveness in the medical wearable device segment.

“Liaison Interactive is committed to providing mobile internet products and services for its customers, including operation systems and software solutions platform, game publishing, distribution and smart wearable devices, which are currently a major focus of its business. Liaison Interactive entered the virtual reality (‘VR’) smart terminal market in 2015, acquiring ‘Avegant Glyph’ brand of hardware and software products. ‘Avegant Glyph’ is a retina glasses using VR technology, providing users ultimate visual experiences. We believe that by investing in the Company, Liaison Interactive can open up and further expand its strategic presence in the smart hardware space within the medical field.

“Dehaier Medical, focusing on smart wearable medical devices and services for OSAS patients, has cooperated with hundreds of medical institutions in China and is attempting to expand into the individual customer-oriented smart hardware market. By leveraging Liaison Interactive’s extensive customer base in the Chinese mobile internet market, Dehaier anticipates growing its market share in China. It is the exact type of collaboration that we would anticipate from a strategic investor like Liaison Interactive, and we believe it will lead to a new revenue stream for us in the future.”

About Hangzhou Liaison Interactive Information Technology Co. Ltd.

Liaison Interactive, formerly known as Beijing Digital Grid Technology Co., Ltd. was founded in 2007 as a leading mobile Internet product and services provider in the industry. On October 24, 2014, China Securities Regulatory Commission approved the asset restructuring application of Beijing Digital Grid Technology Co., ltd. and the listed company Hangzhou New Century Information Technology Co., Ltd. After the restructuring, listed entity Liaison Interactive (002280) became China’s first listed mobile Internet company. Liaison Interactive has three core business units. Digital Grid Department focuses on innovations in products and technologies. Interactive Entertainment Department focuses on mobile game developing and operating. Intelligent Hardware Department focuses on one of most important business strategies striving to be a world-class developer. Based in Beijing, Liaison Interactive has set up subsidiaries and branches in Shanghai, Guangzhou, Hong Kong, Shenzhen, Hangzhou, Nanjing, Shenyang and the U.S. For more information, please visit http://www.lianluo.com.

About Dehaier Medical Systems Ltd.

Dehaier Medical develops, markets and sells medical products, including medical devices and wearable sleep respiratory products in China and international markets. The company develops and assembles its self-branded medical devices and sleep respiratory products from third-party components. Dehaier is committed to becoming the solution provider of medical smart wearable devices and professional services. Dehaier is transforming from a traditional medical equipment supplier to a high-tech enterprise in the field of mobile medical and smart wearable devices. The main business of Dehaier is providing overall solutions including accurate screening, efficient treatment and treatment evaluation for obstructive sleep apnea syndrome (“OSAS”) patients. With the cutting-edge photoplethysomography analysis technology and state-of-the-art sleep diagnosis device, Dehaier made the first application of cloud technology in sleep medicine by managing to upload patients’ records, patient information management, and analysis to the cloud. Dehaier Medical provides sleep diagnostic products and services for inpatients and outpatients in Chinese medical institutions including chronic diseases therapy departments in public hospitals, patients in private physical examination centers and VIP customers of life insurance companies. Dehaier Medical’s technology is based on six patents and eleven software copyrights. More information may be found at http://www.dehaier.com.cn.

Forward-looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, fulfillment of bids and contracts, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

Dehaier Medical Systems Limited
Janice Wang
+86 10-5166-0080 ext. 211
investors@dehaier.com.cn

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(PRGN) Recent Developments on its Debt Agreements, Newbuilding Contracts

ATHENS, Greece, April 28, 2016  — Paragon Shipping Inc. (“Paragon” or the “Company”) today announced the following updates on its debt agreements, newbuilding contracts and other corporate actions:

Newbuilding Contracts

The Company has entered into an agreement with Jiangsu Yangzijiang Shipbuilding Co., or Yangzijiang, to extend the deliveries of its three Kamsarmax newbuilding drybulk carriers (Hull numbers YZJ1144, YZJ1145 and YZJ1142), to September 30, 2016, October 31, 2016 and November 30, 2016, respectively, subject to certain conditions.

Bank of Ireland – Unsecured Paid-in-Kind Note (“PIK Note”)

In January 2016, the Company agreed with Bank of Ireland to apply the total net proceeds from the sale of M/V Kind Seas towards an immediate prepayment of the loan facility. An amount of $2.2 million was written-off and the remaining amount of $2.2 million, plus accrued interest, was converted into a PIK Note. The PIK Note was non-amortizing and had a maturity date of December 31, 2020, at which time it would be repaid at par. Interest on the PIK Note would accrue on a quarterly basis at an interest rate equal to the aggregate of 2.5% and the applicable LIBOR, and would be treated as payment-in-kind. On April 11, 2016, the Company received a notice of cancellation, pursuant to which it was discharged from all of its obligations under the PIK Note.

Other Corporate Actions

On April 26, 2016, the Company and Mr. Michael Bodouroglou, the Company’s Chairman, President, Chief Executive Officer and Interim Chief Financial Officer, filed a law suit against Tradewinds and their financial reporter, Mr. Joe Brady Stamford for defamation damages. In particular on February 18, 2016, Tradewinds reported that the Company had obtained its Board of Directors approval for filing bankruptcy under Chapter 11. The Company and its Board of Directors declared that the above statement was totally untrue. The Company believes that such false statements had a negative impact on the Company, its reputation and stock price. The lawsuit was submitted before the Prosecutor of the Criminal Court of Athens.

Senior Unsecured Notes due 2021

In relation to the issued and outstanding senior unsecured notes due 2021 that bear interest at a rate of 8.375% per year (“Unsecured Notes”), the Company will not proceed with the interest payment, which is due on May 15, 2016, due to lack of liquidity.

Forward-Looking Statements

Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected as well as other risks that have been included in filings with the Securities and Exchange Commission, all of which are available at www.sec.gov.

About Paragon Shipping Inc.

Paragon Shipping is an international shipping company incorporated under the laws of the Republic of the Marshall Islands with executive offices in Athens, Greece, specializing in the transportation of drybulk cargoes. Paragon Shipping’s current newbuilding contracts consist of three Kamsarmax drybulk carriers. The Company’s common shares and Unsecured Notes trade on the NASDAQ Capital Market under the symbols “PRGN” and “PRGNL,” respectively.  For more information, visit: www.paragonship.com. The information contained on Paragon Shipping’s website does not constitute part of this press release.

Contacts:

Paragon Shipping Inc.
ir@paragonshipping.gr

DresnerAllenCaron
Rudy Barrio (Investors)
rbarrio@dresnerallencaron.com
(212) 691-8087

Thursday, April 28th, 2016 Uncategorized Comments Off on (PRGN) Recent Developments on its Debt Agreements, Newbuilding Contracts

(MKGI) Recruiter.com Partners With Monaker Group to Develop Custom Travel Club

Recruiter.com Has Partnered With Innovative Travel Company Monaker Group to Develop Its Custom Travel Club

FARMINGTON, CT–(Apr 28, 2016) – Recruiter.com, an online global recruiting and career service, announced today that it has partnered with Monaker Group (OTCQB: MKGI), an industry leading technology-driven travel company, to develop a custom travel club solution offering for its members.

“The Monaker Group offers a very high quality combination of an innovative technology platform paired with strong domain expertise and inventory,” said Miles Jennings, CEO of Recruiter.com. “The Recruiter.com Travel Club is a powerful new incentive to add to our forthcoming Recruiter Rewards Program.”

Recruiter.com will offer the new service to its three million current members and followers. The Recruiter.com Travel Club, powered and supported by Monaker Group’s technology and experience, will offer members customized travel and lifestyle offerings. Members will enjoy highly discounted travel and vacation packages, along with special benefits such as concierge support, exclusive experiences, and premium upgrades.

Commenting on the partnership, Mr. Bill Kerby, Chairman and CEO of Monaker Group, said, “We are pleased to be a trusted partner to Recruiter.com and look forward to delivering their members a high quality platform and exceptional customer support. The partnership gives us another distribution outlet for our growing Alternative Lodging inventory and other travel products within our portfolio. Furthermore, the Recruiter.com Travel Club validates Monaker Group’s unique ability to build innovative products for both work and play.”

About Recruiter.com
Recruiter.com, Inc. is an online global recruiting service that offers an industry-leading job market technology platform. With a highly engaged membership base, Recruiter.com works with hundreds of clients and employers and manages a social media following of more than 2.8 million people. Recruiter.com was voted Top Tech Company to Watch in 2014 by the Connecticut Technology Council, cited as one of the Top 35 Most Influential Career Sites in 2014 by Forbes and listed by Inc. as one of the 9 Best Websites for Finding Top Talent. The career, HR, and recruiting experts of Recruiter.com have been cited and featured in hundreds of sites and publications, including: Wall Street Journal, Entrepreneur, Forbes, Mashable, Business Insider, Inc., Fox Small Business, Time, The Next Web, Yahoo Small Business, US News, Business2Community, Bloomberg and SmartBrief. Visit https://www.recruiter.com or follow Recruiter on Twitter @RecruiterDotCom.

About Monaker:

Monaker Group is a technology driven Travel Company with multiple divisions and brands, leveraging more than 60 years of operation in leisure travel. Monaker’s flagship is NextTrip.com, the industry’s first booking engine featuring alternative lodging (vacation home rentals, resort residences and unused timeshares) as well as a vast array of airlines, hotels, cruises, rental cars, tours and concierge services all combined in one platform to give customers the power of choice when booking their vacations. With key partnerships and established travel brands used as cornerstones, the Company’s mission is to continue to expand offerings to become the “one stop” vacation center. Headquartered in South Florida with offices in California, the Company employs a dedicated team of travel and technology professionals. For more information visit the company’s website at www.monakergroup.com

CONTACT:

Recruiter.com
Attention: Miles Jennings
CEO
Email: info@recruiter.com
Tel: (888) 925-7010

Monaker Group
Attention: Richard Marshall
Director of Corporate Development
Email: rmarshall@monakergroup.com
Tel: (954) 888-9779

Thursday, April 28th, 2016 Uncategorized Comments Off on (MKGI) Recruiter.com Partners With Monaker Group to Develop Custom Travel Club

(RESN) Signs Its First Licensing Agreement with Existing Tier One Customer

Agreement Includes Two RF Front End Duplexers Targeted for Mass Production as Early as Year End 2016

Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency, or RF, front-ends that specializes in delivering designs for difficult bands and complex requirements, today announced it signed its first licensing agreement with an existing customer. This license agreement follows the development engagement that was outlined in the memorandum of understanding signed with this customer in February 2016.

“Securing our first licensing agreement is the next major milestone resulting from years of development of our Infinite Synthesized Network®, or ISN®, tools and technology. This license agreement encompasses two high-volume Surface Acoustic Wave, or SAW, duplexer designs for filters traditionally fabricated as Bulk Acoustic Wave, or BAW duplexers. As we advance this project to meet the customer’s aggressive schedule, we look forward to further validating our ability to achieve complex and competitive RF front-end filters that we believe can be developed in less than half the time and manufactured at approximately half the unit cost of traditional designs,” said Terry Lingren, CEO and Co-Founder of Resonant Inc.

“Our continued expansion of design capabilities for these difficult bands has enabled us to develop low cost non-temperature compensated SAW duplexers that we believe will deliver comparable performance to the more expensive BAW and FBAR duplexers. We also believe these design tools can address the increasing complexity required by carrier aggregation. This trend, along with the industry-wide constraint on design capacity, are significant drivers of our growing opportunities,” concluded Lingren.

Design acceptance payments and royalty terms have been agreed upon, but will not be disclosed due to the confidential nature of such agreements. The customer, or licensee, is targeting new OEM handsets for these filters. While not guaranteed, there is a potential that one if not both of these products could start to produce revenues before the end of 2016.

About Resonant® Inc.

Resonant is creating innovative filter designs for the RF front-end, or RFFE, for the mobile device industry. The RFFE is the circuitry in a mobile device responsible for the radio frequency signal processing and is located between the device’s antenna and its digital baseband. Filters are a critical component of the RFFE that selects the desired radio frequency signals and rejects unwanted signals and noise.

About Resonant’s ISN® Technology

Resonant can create designs for hard bands and complex requirements that can be manufactured for half the cost and developed in half the time of traditional approaches. The Company’s large suite of proprietary mathematical methods, software design tools and network synthesis techniques enable it to explore a much bigger set of possible solutions and quickly derive the better ones. These improved filters still use existing manufacturing methods (i.e. SAW) and can perform as well as those using higher cost methods (i.e. BAW). While most of the industry designs surface acoustic wave filters using a coupling-of-modes model, Resonant uses circuit models and physical models. Circuit models are computationally much faster, and physical models are highly accurate models based entirely on fundamental material properties and dimensions. Resonant’s method delivers excellent predictability, enabling achievement of the desired product performance in roughly half as many turns through the fab. In addition, because Resonant’s models are fundamental, integration with its foundry and fab customers is eased because its models speak the “fab language” of basic material properties and dimensions.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements, which include the following subjects, among others: the status of filter designs under development, the capabilities of our filter designs, and, the timing and amount of future royalty streams. Forward-looking statements are made as of the date of this document and are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: our limited operating history; our ability to complete designs that meet customer specifications; the ability of our customers (or their manufacturers) to fabricate our designs in commercial quantities; the ability of our designs to significantly lower costs compared to other designs and solutions; the risk that the intense competition and rapid technological change in our industry renders our designs less useful or obsolete; our ability to find, recruit and retain the highly skilled personnel required for our design process in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Annual Report (Form 10-K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.

 

Resonant Inc.
Ina McGuinness, 805-308-9803
IR@resonant.com
or
MZ North America
Matt Hayden, 1-949-259-4986
Matt.hayden@MZGroup.us

Wednesday, April 27th, 2016 Uncategorized Comments Off on (RESN) Signs Its First Licensing Agreement with Existing Tier One Customer

(DRYS) Announces Availability of 2015 Annual Report on Form 20-F

ATHENS, GREECE–(Apr 27, 2016) – DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), an international owner of drybulk carriers and offshore support vessels, announced today that its annual report on Form 20-F for the year ended December 31, 2015 (the “Annual Report”) has been filed with the U.S. Securities and Exchange Commission. The Annual Report may also be accessed through the DryShips website, www.dryships.com, at the Investor Relations section under Quarterly and Annual Reports.

Shareholders may also request a hard copy of the Annual Report, which includes the Company’s complete 2015 audited financial statements, free of charge by contacting Capital Link Inc., the Company’s investor relations advisor, using the contact details provided below.

About DryShips Inc.

DryShips Inc. is an owner of drybulk carriers and offshore support vessels that operate worldwide. DryShips owns a fleet of 20 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.5 million tons, and 6 offshore supply vessels, comprising 2 platform supply and 4 oil spill recovery vessels.

DryShips’ common stock is listed on the NASDAQ Capital Market where it trades under the symbol “DRYS.”

Visit the Company’s website at www.dryships.com

Forward-Looking Statements

Matters discussed in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with such safe harbor legislation.

Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter rates and dayrates and vessel and drilling dayrates and drybulk vessel, drilling rig and drillship values, failure of a seller to deliver one or more vessels or drilling units, drillships or drybulk vessels, failure of a buyer to accept delivery of a drilling rig, drillship, or vessel, inability to procure acquisition financing, default by one or more customers, changes in demand for drybulk commodities or oil, changes in demand that may affect attitudes of time charterers and customer drilling programs, scheduled and unscheduled drydockings and upgrades, changes in our operating expenses, including bunker prices, drydocking and insurance costs, complications associated with repairing and replacing equipment in remote locations, limitations on insurance coverage, such as war risk coverage, in certain areas, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, changes in tax laws, treaties and regulations, tax assessments and liabilities for tax issues, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by DryShips Inc. with the U.S. Securities and Exchange Commission, including the Company’s most recently filed Annual Report on Form 20-F.

Investor Relations / Media:

Nicolas Bornozis
Capital Link, Inc. (New York)
Tel. 212-661-7566
E-mail: dryships@capitallink.com

Wednesday, April 27th, 2016 Uncategorized Comments Off on (DRYS) Announces Availability of 2015 Annual Report on Form 20-F

(LGCY) Will They Hit or Miss; Earnings Estimates

MIDLAND, TX / April 27, 2016 / Legacy Reserves LP (NASDAQ: LGCY) is a master limited partnership headquartered in Midland, Texas, focused on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States. The following report focuses on earnings estimates, analyst comments, price targets and seeks to answer the question, will Legacy hit or miss with their next earnings report.

Get multiple analyst estimates, price targets, earnings information and comments which we have compiled here. There is no cost or obligation to view the full report: http://broadstreetalerts.com/legacy-earnings-analyst-rating/.

About Broad Street Alerts

We make the connection between sophisticated investors and high quality small cap companies. An issuer of reports that provide a straightforward assessment of the profiled company. They include stocks traded in the NYSE, NASDAQ, and OTCBB exchanges.

Safe Harbor Statement

This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements

Compliance Procedure

Content is researched, written and reviewed on a best-effort basis by a 3rd party analyst. However, we are only human and may make mistakes. If you notice any errors or omissions, please notify us. This report was prepared for informational purposes only. A full disclaimer can be found by viewing the full analyst report. We do not hold any positions and have not been compensated in any form for this press release and report. For more information and services provided beyond this press release please use contact information provided below.

Contact: editor@BroadStreetAlerts.com

Wednesday, April 27th, 2016 Uncategorized Comments Off on (LGCY) Will They Hit or Miss; Earnings Estimates

(NVIV) Conversion of a Fourth Patient Implanted with the Neuro-Spinal Scaffold™

Four Out of First Six Patients Have Converted from Complete to Incomplete Spinal Cord Injury

InVivo Therapeutics Holdings Corp. (NVIV) today announced that the sixth-implanted patient in the INSPIRE study has improved from a complete AIS A spinal cord injury to an incomplete AIS B spinal cord injury. This is the fourth out of the first six patients (67%) with at least two months of follow up data to have had an AIS grade improvement.

The Objective Performance Criterion (OPC), a measure of study success for the INSPIRE study, is defined as 25% or more of the patients having improved by at least one AIS grade by six months post-implantation. Several large natural history databases indicate that fewer than 16% of patients with complete thoracic injuries have an AIS grade improvement by six months post-injury. *

“We’re encouraged by the progress the patient has made in the first two months after injury. It’s still early in the patient’s recovery period, and we look forward to monitoring this patient for signs of further neurological recovery,” said Wilson (Zack) Ray, M.D. Dr. Ray performed the implantation at the Barnes-Jewish Hospital at Washington University Medical Center in St. Louis, MO.

“The proportion of patients in the INSPIRE study that have recovered some neurological function is impressive. This most recent conversion brings us closer to achieving the study’s Objective Performance Criterion of five patient conversions. We will be enrolling 13 additional evaluable patients in order to reach 20 patients at six months, and we only need to observe one additional conversion in order to meet the OPC,” said Mark Perrin, InVivo’s Chief Executive Officer and Chairman. “Our goal is to approach full enrollment by the end of this year and file for Humanitarian Device Exemption approval next year.”

All patients enrolled in the INSPIRE study have complete (AIS A) spinal cord injuries at the time of enrollment. In the time between the one-month and the two-month post-injury assessment, the sixth patient treated improved from a complete AIS A spinal cord injury to an incomplete AIS B spinal cord injury. The ASIA Impairment Scale (AIS) is a five grade scale (AIS A-E) that measures the severity of a spinal cord injury.

About The INSPIRE Study

The INSPIRE Study: InVivo Study of Probable Benefit of the Neuro-Spinal Scaffold™ for Safety and Neurologic Recovery in Subjects with Complete Thoracic AIS A Spinal Cord Injury, is designed to demonstrate the safety and probable benefit of the Neuro-Spinal Scaffold™ for the treatment of complete T2-T12/L1 spinal cord injury in support of a Humanitarian Device Exemption (HDE) application for approval. For more information, refer to https://clinicaltrials.gov/ct2/show/study/NCT02138110.

About the Neuro-Spinal Scaffold™ Implant

Following acute spinal cord injury, surgical implantation of the biodegradable Neuro-Spinal Scaffold within the decompressed and debrided injury epicenter is intended to support appositional healing, thereby reducing post-traumatic cavity formation, sparing white matter, and allowing neural regeneration across the healed wound epicenter. The Neuro-Spinal Scaffold, an investigational device, has received a Humanitarian Use Device (HUD) designation and currently is being evaluated in the INSPIRE pivotal probable benefit study for the treatment of patients with complete (AIS A) traumatic acute spinal cord injury.

About InVivo Therapeutics

InVivo Therapeutics Holdings Corp. is a research and clinical-stage biomaterials and biotechnology company with a focus on treatment of spinal cord injuries. The company was founded in 2005 with proprietary technology co-invented by Robert Langer, Sc.D., Professor at Massachusetts Institute of Technology, and Joseph P. Vacanti, M.D., who then was at Boston Children’s Hospital and who now is affiliated with Massachusetts General Hospital. In 2011, the company earned the David S. Apple Award from the American Spinal Injury Association for its outstanding contribution to spinal cord injury medicine. In 2015, the company’s investigational Neuro-Spinal Scaffold received the 2015 Becker’s Healthcare Spine Device Award. The publicly-traded company is headquartered in Cambridge, MA. For more details, visit www.invivotherapeutics.com.

Safe Harbor Statement

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of the federal securities laws. These statements can be identified by words such as “believe,” “anticipate,” “intend,” “estimate,” “will,” “may,” “should,” “expect,” “designed to,” “potentially,” and similar expressions, and include statements regarding the safety and effectiveness of the Neuro-Spinal Scaffold, progress toward achievement of OPC for The INSPIRE Study, the expected timing of full enrollment in the study, and the timing of the submission of the Humanitarian Device Exemption (HDE). Any forward-looking statements contained herein are based on current expectations, and are subject to a number of risks and uncertainties. Factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the company’s ability to successfully open additional clinical sites for enrollment and to enroll additional patients; the timing of the Institutional Review Board process; the impact of achieving the OPC on the FDA approval process; the company’s ability to commercialize its products; the company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the company’s products and technology in connection with the treatment of spinal cord injuries; the availability of substantial additional funding for the company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and other risks associated with the company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies identified and described in more detail in the company’s Annual Report on Form 10-K for the year ended December 31, 2015, and its other filings with the SEC, including the company’s Form 10-Qs and current reports on Form 8-K. The company does not undertake to update these forward-looking statements.

* Zariffa et al., Spinal Cord (2011); Lee et al., J. Spinal Cord Med. (2014); Fawcett et al., Spinal Cord (2007)

InVivo Therapeutics
Brian Luque, 617-863-5535
Investor Relations
bluque@invivotherapeutics.com

Tuesday, April 26th, 2016 Uncategorized Comments Off on (NVIV) Conversion of a Fourth Patient Implanted with the Neuro-Spinal Scaffold™

(OGXI) Analyst Review and Estimates

BOTHELL, WA and VANCOUVER, BC / April 26, 2016 / OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) is a clinical-stage biopharmaceutical company engaged in the development and commercialization of therapies that address treatment resistance in cancer patients. The Company’s segment is dedicated to the development and commercialization of cancer therapies, with operations located in Canada and the United States. The Company’s product candidates include Custirsen, Apatorsen and OGX-225. The Company is focused on targeting these particular proteins to disable the tumor cell’s adaptive defenses, thereby rendering the tumor cells susceptible to attack with a range of cancer therapies. Of these product candidates, Custirsen and Apatorsen are clinical-stage assets. Custirsen is being evaluated in two Phase III trials. Apatorsen is a product candidate designed to inhibit production of heat shock protein 27 (Hsp27). OGX-225 is a product candidate designed to inhibit the production of Insulin Growth Factor Binding Proteins-2 and -5 (IGFBP-2, IGFBP-5). There are a several analyst covering OGXI’s securities. The focus of the following report is several analyst rating and the companies drug pipeline and progress.

Get the all the analyst estimates and price targets and comments that we have compiled here. There is no cost or obligation to view the full report: http://broadstreetalerts.com/analyst-review-oncogenex/.

About Broad Street Alerts

We make the connection between sophisticated investors and high quality small cap companies. An issuer of reports that provide a straightforward assessment of the profiled company. They include stocks traded in the NYSE, NASDAQ, and OTCBB exchanges.

Safe Harbor Statement

This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements

Compliance Procedure

Content is researched, written and reviewed on a best-effort basis by a 3rd party analyst. However, we are only human and may make mistakes. If you notice any errors or omissions, please notify us. This report was prepared for informational purposes only. A full disclaimer can be found by viewing the full analyst report. We do not hold any positions and have not been compensated in any form for this press release and report. For more information and services provided beyond this press release please use contact information provided below.

Contact: editor@BroadStreetAlerts.com

Tuesday, April 26th, 2016 Uncategorized Comments Off on (OGXI) Analyst Review and Estimates

(SMMT) IND Cleared by FDA Allowing Expansion of PhaseOut DMD

Enrolment of Patients with DMD in the US Expected to Start 3Q 2016
Utrophin Modulation Offers Differentiated Approach in DMD

OXFORD, United Kingdom, April 26, 2016 — Summit Therapeutics plc (NASDAQ:SMMT) (AIM:SUMM), the drug discovery and development company advancing therapies for Duchenne muscular dystrophy (‘DMD’) and Clostridium difficile infection, announces that the US Food and Drug Administration has cleared the Company’s investigational new drug (‘IND’) application to expand the Phase 2 proof of concept clinical trial called PhaseOut DMD to trial sites in the US. PhaseOut DMD will evaluate the Company’s lead utrophin modulator, ezutromid (formerly known as SMT C1100), in patients with DMD at sites in the UK and the US.

In contrast to many current therapeutic approaches to DMD, utrophin modulation has the potential to treat all boys and young men with DMD, regardless of their underlying dystrophin gene mutation.

“The IND clearance for PhaseOut DMD paves the way to expand PhaseOut DMD into the US and will provide access to a wider network of leading physicians in DMD as we seek to improve the lives of patients and families living with this devastating disease,” said Ralf Rosskamp, MD, Chief Medical Officer of Summit. “PhaseOut DMD aims to show the potential benefits of ezutromid as a disease modifying approach for DMD for the first time in patients, and this approach could ultimately benefit the entire DMD patient population.”

Summit expects to begin enrolling patients into US sites in the third quarter of 2016.

About PhaseOut DMD
PhaseOut DMD aims to provide proof of concept for ezutromid (SMT C1100) and utrophin modulation by measuring muscle fat infiltration, as well as by measuring utrophin protein and muscle fibre regeneration in muscle biopsies. The primary endpoint of the open-label trial is the change from baseline in magnetic resonance imaging parameters related to fat infiltration and inflammation of the leg muscles. Exploratory endpoints include the six-minute walk distance, the North Star Ambulatory Assessment and patient reported outcomes. PhaseOut DMD is a 48-week open-label trial expected to enrol up to 40 boys ranging in age from their fifth to their tenth birthdays at sites in the UK and the US.

About Utrophin Modulation in DMD
DMD is a progressive muscle wasting disease that affects around 50,000 boys and young men in the developed world. The disease is caused by different genetic faults in the gene that encodes dystrophin, a protein that is essential for the healthy function of all muscles. There is currently no cure for DMD and life expectancy is into the late twenties. Utrophin protein is functionally and structurally similar to dystrophin. In preclinical studies, the continued expression of utrophin has a meaningful, positive effect on muscle performance. Summit believes that utrophin modulation has the potential to slow down or even stop the progression of DMD, regardless of the underlying dystrophin gene mutation. Summit also believes that utrophin modulation could potentially be complementary to other therapeutic approaches for DMD. The Company’s lead utrophin modulator, ezutromid*, is an orally administered, small molecule. DMD is an orphan disease, and the US Food and Drug Administration and the European Medicines Agency have granted orphan drug status to ezutromid. Orphan drugs receive a number of benefits including additional regulatory support and a period of market exclusivity following approval.

*Ezutromid is the international nonproprietary name (‘INN’) recommended by the World Health Organization for SMT C1100. INNs, also known as generic names, are used globally to identify pharmaceutical substances.

About Summit Therapeutics
Summit is a biopharmaceutical company focused on the discovery, development and commercialisation of novel medicines for indications for which there are no existing or only inadequate therapies. Summit is conducting clinical programs focused on the genetic disease Duchenne muscular dystrophy and the infectious disease C. difficile infection. Further information is available at www.summitplc.com and Summit can be followed on Twitter (@summitplc).

For more information, please contact:

Summit
Glyn Edwards / Richard Pye (UK office)
Erik Ostrowski / Michelle Avery (US office)
Tel: +44 (0)1235 443 951
+1 617 225 4455
Cairn Financial Advisers LLP
(Nominated Adviser)
Liam Murray / Tony Rawlinson
Tel: +44 (0)20 7148 7900
N+1 Singer
(Broker)
Aubrey Powell / Jen Boorer
Tel: +44 (0)20 7496 3000
Consilium Strategic Communications
(Financial public relations, UK)
Mary-Jane Elliott, Sue Stuart,
Jessica Hodgson, Lindsey Neville
Tel: +44 (0)20 3709 5700
summit@consilium-comms.com
MacDougall Biomedical Communications
(US media contact)
Chris Erdman
Tel: +1 781 235 3060
cerdman@macbiocom.com

Forward-looking Statements
Any statements in this press release about Summit’s future expectations, plans and prospects, including but not limited to, statements about the clinical and preclinical development of Summit’s product candidates, the therapeutic potential of Summit’s product candidates, and the timing of initiation, completion and availability of data from clinical trials, and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions, constitute forward looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from on-going and future clinical trials and the results of such trials, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, expectations for regulatory approvals, availability of funding sufficient for Summit’s foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the “Risk Factors” section of filings that Summit makes with the Securities and Exchange Commission including Summit’s Annual Report on Form 20-F for the fiscal year ended January 31, 2015.  Accordingly readers should not place undue reliance on forward looking statements or information. In addition, any forward looking statements included in this press release represent Summit’s views only as of the date of this release and should not be relied upon as representing Summit’s views as of any subsequent date. Summit specifically disclaims any obligation to update any forward-looking statements included in this press release.

Tuesday, April 26th, 2016 Uncategorized Comments Off on (SMMT) IND Cleared by FDA Allowing Expansion of PhaseOut DMD

(OGES) and CEO Barber to Commence 3 Part, 90-Minute TV Series: “Power Up America”

PALM BAY, FL–(April 26, 2016) – Oakridge Global Energy Solutions, Inc. (OTCQB: OGES) announces a three part, 90-minute TV business mini-series, “Power Up America.”

This biographical business expose delves into “How” Oakridge Global Energy Solutions, with Barber and team, started as a true R & D company to find the best energy solutions. Within a short time, 1 and a half years, OGES became the only U.S. manufacturer of lithium-ion batteries with battery power life up to 3 times greater than its foreign-manufactured counterparts.

The series will feature award-winning television host Ken Evseroff of “New To The Street,” touring on location at Oakridge’s 40-Million-Dollar, 70,000-square-foot manufacturing plant that Barber and team designed and built in Palm Bay, Florida.

The series details “How” the vision is becoming reality, as OGES is shipping the batteries to the golf cart, motorcycle, and several custom niche markets, with a pipeline of over $20 million in orders and growing.

The first 30-minute TV part will broadcast in early June on FOX Business, dates and times to be announced.

Vince Caruso, President of FMW Media Works Corp., states, “When I first met with Steve Barber on our NYC film set and learned all he was doing, I thought to myself this company has so much going on they need a whole TV show for themselves. Then my team visited OGES in Florida with Governor Rick Scott. We shot a lot of footage and interview content, whereas our TV editors expressed the difficulty of cutting out anything — it all makes sense and needs to be shown.”

After sending host Ken Evseroff and Executive Producer Tom Kelley again to Palm City, FL, “New To The Street” and Oakridge Global Energy Solutions decided on a 3-part TV business mini-series about their lithium battery business.

The series produced by FMW Media Works Corp. is shot in HD film quality.

About FMW Media Works Corp (“New To The Street” TV)
“New To The Street” paves the way to the latest financial issues, offering a blend of business and financial services news reporting and in-depth interviews relating to new products, economic analysis, and public company profiles. New to the Street is produced by FMW Media Works Corp. a leading provider of business profiles and special corporate programming, and airs as Sponsored programming on FOX Business, ION Media Networks, A & E and History Channel. Visit www.NewToTheStreet.com.

About Oakridge Global Energy Solutions Inc.
Oakridge Global Energy Solutions Inc. is a publicly traded company, trading symbol: OGES on the OTCQB with a market capitalization of approximately USD $200,000,000, whose primary business is the development, manufacturing, and marketing of energy storage products. Additional information can be accessed on the company’s website www.oakridgeglobalenergy.com.

 

Contact:
New To The Street
Vincent Caruso
Office: 631-465-0284
Cell: 631-682-8499
Email: 
vince.caruso@newtothestreet.com

Tuesday, April 26th, 2016 Uncategorized Comments Off on (OGES) and CEO Barber to Commence 3 Part, 90-Minute TV Series: “Power Up America”

(CNCK) Expands Its Board of Advisors and Appoints Dennis Fredricks

Joins Dr. Marc Siegel Who Currently Sits on the Company’s Board of Advisors

LOS ANGELES, CA–(Apr 26, 2016) – Content Checked Holdings, Inc. (OTCQB: CNCK) (the “Company”), a creator of mobile applications for people with dietary restrictions, today announced that Dennis Fredricks, Esq., a Los Angeles-based attorney specializing in domestic and international business and entertainment law, has joined the Company’s Board of Advisors.

Mr. Fredricks joins Dr. Marc Siegel MD FACP, a clinical professor of medicine and the medical director of Doctor Radio (Sirius/XM) at NYU Langone Medical Center and medical contributor, reporter and member of the Fox News Medical A-Team, on the Board of Advisors.

The Company officially formed its Board of Advisors in the first quarter of 2016 to provide guidance to its Board of Directors and management to execute the Company’s business development, marketing and operational matters, and to provide insight into continued opportunities within the food, health/wellness and nutrition industry.

“Mr. Fredricks brings to us considerable practical experience having worked with U.S. and international companies in the tech sector and in traditional industries in many branches of commerce. Dennis’ understanding and background will help us bring our mobile apps to foreign markets,” said Kris Finstad, the Company’s CEO and President. “We look forward to benefiting from Dennis’ knowledge and expertise.”

“I am very happy to be joining Content Checked’s board of advisors and I’m looking forward to helping Kris and the Company continue to grow its business,” said Mr. Fredricks.

Dennis Fredricks, Esq., is the managing attorney of the law firm, Fredricks & von der Horst. Mr. Fredricks specializes in international and domestic business law, focusing on individuals, companies, and governmental agencies in the U.S. and Europe.He is the counsel and legal advisor to the Consulates General of ten countries. He also acts as production counsel in Los Angeles for independent feature films and television programs, and transacts in literary works, as well as represents a number of non-profit organizations. Mr. Fredricks has authored several articles for trade publications. Since 2001, Mr. Fredricks has conducted a series of seminars in Los Angeles, focusing on issues of commercial law as well as comparative law between the U.S. and European jurisdictions.

Marc Siegel, MD FACP, is a clinical professor of medicine and the medical director of Doctor Radio (Sirius/XM) at NYU Langone Medical Center. Dr. Siegel is a medical contributor, reporter and member of the Fox News Medical A Team. He is a member of the board of contributors at USA Today and a frequent contributor to several other newspapers and magazines. Dr. Siegel is the author of five books, most recently The Inner Pulse; Unlocking the Secret Code of Sickness and Health.

About Content Checked Holdings, Inc.

Content Checked Holdings, Inc. (www.contentchecked.com) has created a revolutionary marketplace for people with dietary restrictions and the organizations who cater to them by creating and introducing the ContentChecked, MigraineChecked and SugarChecked smartphone applications. ContentChecked and MigraineChecked are the first applications with comprehensive and accurate content information, and in-depth allergen and migraine definitions for over 70% of conventional U.S. food products.

Each app gives consumers the ability to scan a product’s bar code and determine if it is safe for consumption based on their allergy settings. The apps will recommend a suitable alternative if a product does contain one or more of a user’s allergens. This enables the applications to meet the needs of millions of people in the U.S. In the U.S. alone, there are more than 15 million people who suffer from food allergies and 38 million people who suffer from migraines and chronic headaches. The food allergy and intolerances market has been valued at approximately US$13 billion in 2015. As a result, the Company has created a pivotal way for food manufacturers and producers to showcase their products to consumers who are actively seeking them at the point of purchase.

The Company has created a robust database of allergens, migraine triggers and food ingredients that directly correlate with food allergies, intolerances, migraines and chronic headaches. There are currently hundreds of thousands of products in its database, updated regularly. All applications serve as easy shopping tools for consumers to decipher often misleading food labels and receive recommendations for healthier alternative products as they shop in real time. The Company’s mission is to offer fast, reliable and efficient mobile apps that help consumers make more informed purchasing decisions and live healthier lives in accordance to their dietary preferences.

For more information on the Company, please visit its social media channels via Facebook (www.facebook.com/contentchecked), (www.facebook.com/migrainechecked) and (www.facebook.com/sugarchecked); Instagram (www.instagram.com/contentchecked), (www.instagram.com/migrainechecked) and (www.instagram.com/sugarchecked); or
YouTube (www.youtube.com/channel/UCMihoaZILlRZ2C3hmx5vXhQ).

Forward-Looking Statements:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as “expects”, “anticipates”, “intends”, “estimates”, “plans”, “potential”, “possible”, “probable”, “believes”, “seeks”, “may”, “will”, “should”, “could” or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company’s business. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2015, the Company’s Quarterly Reports on Form 10-Q and other filings submitted by the Company to the SEC, copies of which may be obtained from the SEC’s website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.

Contacts:

Investor Relations

Christine J. Petraglia
Managing Director, Investor Relations
PCG Advisory Group
535 5th Avenue, 24th Floor
New York, NY 10017
646-731-9817
www.pcgadvisory.com

Content Checked Holdings, Inc.

Victoria Nunez
Director of Business Development
8730 Sunset Blvd., Suite 240
West Hollywood, CA 90069
424-205-1777
www.contentchecked.com

Tuesday, April 26th, 2016 Uncategorized Comments Off on (CNCK) Expands Its Board of Advisors and Appoints Dennis Fredricks

(MKGI) Booking Technology Unlocks Specialty Lodging Inventory

New-to-Market Timeshare and Resort Properties Now Available for Vacation Rental

WESTON, FL–(Apr 26, 2016) – Monaker Group (OTCQB: MKGI), a technology-driven travel company, today announces that its proprietary timeshare booking engine has been integrated into the Company’s flagship booking platform, nexttrip.com, as NextTrip Resorts.

This enhancement will now allow timeshare owners and/or property managers to post their unused resort properties into nexttrip.com’s vacation rental inventory under NextTrip Resorts. These properties usually consist of suites with a living room, bedrooms and full kitchens at beautiful resort properties around the globe. Consumers will now be able to make real-time bookings or make offers on the amount they wish to pay to book a property.

The NextTrip Resorts platform is ground-breaking for the manner in which it allows timeshare owners the ability to market their unused timeshare, fractional, condo-hotel units to travelers. Today’s integration of NextTrip Resorts provides a number of unique advantages with a particular focus on resort properties.

The NextTrip Resorts Platform:

  • Gives timeshare owners access to a large scale travel distribution platform allowing them to market their property and capture income when not using it
  • Owners can add/edit properties, monitor bookings and rent otherwise vacant properties
  • Vacationers gain access to high quality vacation suites with numerous amenities at high-end resorts worldwide.
  • This largely untapped inventory is estimated 19 million rooms of which roughly 25% go unused.

Now that the platform is launched NextTrip will begin to aggressively pursue timeshare resort owners, developers and property management companies to access global, large-scale rental inventory for vacationers. Initial commitments and property offerings include inventory from Mexican resorts in beach destinations such as Cancun and the Riviera Maya, European inventory in destinations such as Greece, and resellers of inventory with product on a worldwide basis. In upcoming weeks, Monaker expects to obtain additional commitments from national hospitality companies and independent operators with national and international networks of resorts.

Monaker Chairman and CEO Bill Kerby states, “This technology and integration bolsters Monaker’s growing alternative lodging offerings to now include unoccupied timeshares, fractional share properties and mixed use developments with 4 or 5 star hotels and resorts in highly sought vacation destinations. Additionally, timeshare owners rank among the highest in individual vacation spends and form a much sought after demographic as potential NextTrip consumers for their travel.”

Jim Marmorstone, Monaker President adds that, “Today’s news is an important milestone for Monaker. Having spent a number of years in the hospitality, shared ownership and mixed use development industries, I’m truly excited to be a part of this technology and platform. Property developers, owners and managers should benefit greatly from our rental management solutions and distribution. NextTrip travel customers and platform partners will benefit from additional property inventory which should grow substantially from here.”

About Monaker:

Monaker Group is a technology driven Travel Company with multiple divisions and brands, leveraging more than 60 years of operation in leisure travel. Monaker’s flagship is NextTrip.com, the industry’s first real time booking engine featuring alternative lodging (vacation home rentals, resort residences and unused timeshares) as well as a vast array of airlines, hotels, cruises, rental cars, tours and concierge services all combined in one platform to give customers the power of choice when booking their vacations. With key partnerships and established travel brands used as cornerstones, the Company’s mission is to continue to expand offerings to become the “one stop” vacation center. Headquartered in South Florida with offices in California, the Company employs a dedicated team of travel and technology professionals. For more information visit the company’s website at www.monakergroup.com

Safe Harbor Statement:

This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of Monaker Group. These statements are only predictions and actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of our control. The potential risks and uncertainties include, among others, or the expectations of future growth may not be realized. These forward-looking statements are made only as of the date hereof, and Monaker Group, undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. All forward looking statements are expressly qualified in their entirety by the “Risk Factors” and other cautionary statements included in Monaker Group’s annual, quarterly and special reports, proxy statements and other public filings with the Securities and Exchange Commission (“SEC”), including, but not limited to, the Company’s Annual Report on Form 10-K for the period ended February 28, 2015 which has been filed with the SEC and is available at the SEC’s website at www.sec.gov.

CONTACT:
Monaker Group
Attention: Richard Marshall
Director of Corporate Development
Email: rmarshall@monakergroup.com
Tel: (954) 888-9779

Chesapeake Group
Investor Relations
Tel: (410) 825-3930

Tuesday, April 26th, 2016 Uncategorized Comments Off on (MKGI) Booking Technology Unlocks Specialty Lodging Inventory

(CBAY) Analyst Coverage Initiated

NEWARK, CA / April 25, 2016 / CymaBay Therapeutics Inc. (NASDAQ: CBAY) a biopharmaceutical company focused on developing therapies to treat metabolic diseases, including serious rare and orphan disorders, recently provided corporate highlights and announced financial results for the quarter and year ended December 31, 2015. “We have made significant progress during the last quarter in advancing the development of our two key clinical assets,” said Harold Van Wart, President and Chief Executive Officer of CymaBay. “Earlier in March, we reported some encouraging top-line data from our pilot Phase 2 study in patients with homozygous familial hypercholesterolemia. Analysis of the data showed that MBX-8025 demonstrated the ability to lower LDL-Cholesterol in a majority of patients, despite raising PCSK9 levels. We are evaluating the feasibility of conducting a second pilot study in combination with a PCSK9 inhibitor to assess whether the reductions in LDL-C can be amplified by neutralizing PCSK9.”

With the recent rally slowing down, what does the future hold for CBAY?

For a more detailed research report with analyst comments on CymaBay Therapeutics Inc. (NASDAQ: CBAY) please follow the link. There is no cost obligation required to view analyst brief: http://broadstreetalerts.com/cymabay-therapeutics-inc/.

FORWARD-LOOKING DISCLAIMER

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the subject company in this report to be materially different from the statements made herein.

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Monday, April 25th, 2016 Uncategorized Comments Off on (CBAY) Analyst Coverage Initiated

(CDOR) Announces Sale of Non-Core Super 8

NORFOLK, NE–(April 25, 2016) – Condor Hospitality Trust, Inc. (NASDAQ: CDOR), a hotel-focused real estate investment trust (REIT), today announced that it sold the 72-room Super 8 in O’Neill, Nebraska, on April 22, 2016, for $1.73 million. The Company will use net proceeds from the sale for general corporate purposes and for future acquisitions.

“We have closed on the sale of five legacy hotels so far this year,” said Bill Blackham, Condor’s Chief Executive Officer. “Our accelerated dispositions initiative, launched last year, will likely result in at least 20 legacy hotels being sold this year and the net sales proceeds recycled into higher quality, select-service lodging assets consistent with our new investment strategy that was commenced in the second half of last year. Condor currently has signed sales contracts for eight legacy hotels although there can be no guarantee that all of these transactions will actually close.”

About Condor Hospitality Trust, Inc.

Condor Hospitality Trust, Inc. (NASDAQ: CDOR), formerly known as Supertel Hospitality, Inc., is a self-administered real estate investment trust that specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended-stay and limited-service hotels. The company currently owns 37 hotels in 17 states. Condor’s hotels are franchised by a number of the industry’s most well-regarded brand families including Hilton, Marriott, InterContinental Hotels Group, Choice and Wyndham. For more information or to make a hotel reservation, visit www.condorhospitality.com.

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the company’s filings with the Securities and Exchange Commission.

Contact:
Krista Arkfeld
Director of Corporate Communications
karkfeld@trustcondor.com
402-371-2520

Monday, April 25th, 2016 Uncategorized Comments Off on (CDOR) Announces Sale of Non-Core Super 8

(EXEL) Announces FDA Approval of CABOMETYX™

– CABOMETYX is the first therapy to demonstrate improved overall survival, progression-free survival and objective response rate in a large, randomized phase 3 trial of patients with advanced kidney cancer –

– Exelixis to hold conference call/webcast at 4:00 EDT / 1:00 PDT to discuss approval –

Exelixis, Inc. (NASDAQ:EXEL) today announced that the U.S. Food and Drug Administration (FDA) has approved CABOMETYX™ (cabozantinib) tablets for the treatment of patients with advanced renal cell carcinoma (RCC) who have received prior anti-angiogenic therapy. RCC is the most common form of kidney cancer in adults. CABOMETYX, which was granted Fast Track and Breakthrough Therapy designations by the FDA, is the first therapy to demonstrate in a phase 3 trial for patients with advanced RCC, robust and clinically meaningful improvements in all three key efficacy parameters — overall survival, progression-free survival and objective response rate.

CABOMETYX™ Tablets 20 mg, 40 mg, 60 mg

“With today’s announcement, patients with previously treated advanced kidney cancer now have a new option, the first and only approved product demonstrated to help patients live longer while also delaying the progression of their cancer,” said Michael M. Morrissey, Ph.D., president and chief executive officer of Exelixis. “We are proud to bring new hope to this community, who are looking for more therapies that can help extend lives. Exelixis is committed to making CABOMETYX available to patients in need within the next couple weeks.”

“The efficacy profile demonstrated by CABOMETYX in the METEOR trial, now complemented by the overall survival benefit, is highly compelling,” said Toni Choueiri, MD, Clinical Director, Lank Center for Genitourinary Oncology, Dana-Farber Cancer Institute. “CABOMETYX is distinct from other approved treatment options, as it targets multiple tyrosine kinases involved in the development of RCC, including MET, AXL and three VEGF receptors. At the same time, physicians are very familiar with this class of drug and how to use dose adjustments to balance safety and efficacy. The approval of CABOMETYX is wonderful news for physicians who are looking for a new option for their previously treated patients with advanced kidney cancer.”

The approval of CABOMETYX is based on results of the phase 3 METEOR trial, which met its primary endpoint of improving progression-free survival. Compared with everolimus, a standard of care therapy for second-line RCC, CABOMETYX was associated with a 42 percent reduction in the rate of disease progression or death. Median progression-free survival for cabozantinib was 7.4 months versus 3.8 months for everolimus (HR=0.58, 95% CI 0.45-0.74, P<0.0001). CABOMETYX also significantly improved the objective response rate compared with everolimus. These data were presented at the European Cancer Congress in September 2015 and published in The New England Journal of Medicine.

As announced in February 2016, CABOMETYX also demonstrated a statistically significant and clinically meaningful increase in overall survival in the METEOR trial. Compared with everolimus, CABOMETYX was associated with a 34 percent reduction in the rate of death. Median overall survival was 21.4 months for patients receiving CABOMETYX versus 16.5 months for those receiving everolimus (HR=0.66, 95% CI 0.53-0.83, P=0.0003).

The most common (frequency 25 percent) adverse reactions in CABOMETYX-treated patients include diarrhea, fatigue, nausea, decreased appetite, hand-foot syndrome, high blood pressure, vomiting, weight loss, and constipation. Dose reduction rates were 60 percent for CABOMETYX and 24 percent for everolimus. The rate of treatment discontinuation due to adverse reactions was low (10 percent in each arm) and consistent with that previously reported for everolimus.

Please see Important Safety Information below and full U.S. prescribing information at https://HCP.cabometyx.com/downloads/cabometyxuspi.pdf

Conference Call/Webcast at 4:00 EDT / 1:00 PDT Today

Exelixis management will discuss the CABOMETYX U.S. regulatory approval during a conference call beginning at 4:00 p.m. EDT/1:00 p.m. PDT today, April 25, 2016. To listen to a live webcast of the conference call, visit the Event Calendar page under Investors & Media at www.exelixis.com. Alternatively, participants may dial (855) 793-2457 (domestic) or (631) 485-4921 (international) and provide the conference call passcode 94229895 to join by phone.

An archived replay of the webcast will be available on the Event Calendar page under Investors & Media at www.exelixis.com for one year. An audio-only phone replay will be available until 11:59 p.m. EDT on April 27, 2016. Access numbers for the phone replay are: (855) 859-2056 (domestic) and (404) 537-3406 (international); the passcode is 94229895.

About the METEOR Phase 3 Pivotal Trial

METEOR was an open-label, event-driven trial of 658 patients with advanced renal cell carcinoma who had failed at least one prior vascular endothelial growth factor (VEGF) receptor tyrosine kinase inhibitor (TKI) therapy. The primary endpoint was progression-free survival. Secondary endpoints included overall survival and objective response rate. The trial was conducted at approximately 200 sites in 26 countries, and enrollment was weighted toward Western Europe, North America, and Australia.

Patients were randomized 1:1 to receive 60 mg of CABOMETYX daily or 10 mg of everolimus daily and were stratified based on the number of prior VEGF receptor TKI therapies received and on MSKCC risk criteria. No cross-over was allowed between the study arms.

About Advanced Renal Cell Carcinoma

The American Cancer Society’s 2016 statistics cite kidney cancer as among the top ten most commonly diagnosed forms of cancer among both men and women in the U.S.1 Clear cell RCC is the most common type of kidney cancer in adults.2 If detected in its early stages, the five-year survival rate for RCC is high; for patients with advanced or late-stage metastatic RCC, however, the five-year survival rate is only 12 percent, with no identified cure for the disease.1 Approximately 17,000 patients in the U.S. and 37,000 globally require second-line or later treatment.3

The majority of clear cell RCC tumors have lower than normal levels or function of the von Hippel-Lindau protein, which leads to higher levels of MET, AXL and VEGF.4,5 Higher than normal levels of these proteins can promote tumor angiogenesis (blood vessel growth), growth, invasiveness and metastasis.6-9 MET and AXL may also provide escape pathways that drive resistance to VEGF receptor inhibitors.5,6

About CABOMETYX

CABOMETYX targets include MET, AXL and VEGFR-1, -2 and -3. In preclinical models, cabozantinib has been shown to inhibit the activity of these receptors, which are involved in normal cellular function and pathologic processes such as tumor angiogenesis, invasiveness, metastasis and drug resistance.

CABOMETYX, the tablet formulation of cabozantinib, will be available in 20 mg, 40 mg or 60 mg doses. The recommended dose is 60 mg orally, once daily.

On January 28, 2016, the European Medicines Agency (EMA) validated Exelixis’ Marketing Authorization Application (MAA) for cabozantinib as a treatment for patients with advanced renal cell carcinoma who have received one prior therapy. The MAA has been granted accelerated assessment, making it eligible for a 150-day review, versus the standard 210 days. On February 29, 2016, Exelixis and Ipsen jointly announced an exclusive licensing agreement for the commercialization and further development of cabozantinib indications outside of the United States, Canada and Japan.

Important Safety Information

Hemorrhage: Severe hemorrhage occurred with CABOMETYX. The incidence of Grade ≥3 hemorrhagic events was 2.1% in CABOMETYX-treated patients and 1.6% in everolimus-treated patients. Fatal hemorrhages also occurred in the cabozantinib clinical program. Do not administer CABOMETYX to patients that have or are at risk for severe hemorrhage.

Gastrointestinal (GI) Perforations and Fistulas: Fistulas were reported in 1.2% (including 0.6% anal fistula) of CABOMETYX-treated patients and 0% of everolimus-treated patients. GI perforations were reported in 0.9% of CABOMETYX-treated patients and 0.6% of everolimus-treated patients. Fatal perforations occurred in the cabozantinib clinical program. Monitor patients for symptoms of fistulas and perforations. Discontinue CABOMETYX in patients who experience a fistula that cannot be appropriately managed or a GI perforation.

Thrombotic Events: CABOMETYX treatment results in an increased incidence of thrombotic events. Venous thromboembolism was reported in 7.3% of CABOMETYX-treated patients and 2.5% of everolimus-treated patients. Pulmonary embolism occurred in 3.9% of CABOMETYX-treated patients and 0.3% of everolimus-treated patients. Events of arterial thromboembolism were reported in 0.9% of CABOMETYX-treated patients and 0.3% of everolimus-treated patients. Fatal thrombotic events occurred in the cabozantinib clinical program. Discontinue CABOMETYX in patients who develop an acute myocardial infarction or any other arterial thromboembolic complication.

Hypertension and Hypertensive Crisis: CABOMETYX treatment results in an increased incidence of treatment-emergent hypertension. Hypertension was reported in 37% (15% Grade ≥3) of CABOMETYX-treated patients and 7.1% (3.1% Grade ≥3) of everolimus-treated patients. Monitor blood pressure prior to initiation and regularly during CABOMETYX treatment. Withhold CABOMETYX for hypertension that is not adequately controlled with medical management; when controlled, resume CABOMETYX at a reduced dose. Discontinue CABOMETYX for severe hypertension that cannot be controlled with anti-hypertensive therapy. Discontinue CABOMETYX if there is evidence of hypertensive crisis or severe hypertension despite optimal medical management.

Diarrhea: Diarrhea occurred in 74% of patients treated with CABOMETYX and in 28% of patients treated with everolimus. Grade 3 diarrhea occurred in 11% of CABOMETYX-treated patients and in 2% of everolimus-treated patients. Withhold CABOMETYX in patients who develop intolerable Grade 2 diarrhea or Grade 3-4 diarrhea that cannot be managed with standard antidiarrheal treatments until improvement to Grade 1; resume CABOMETYX at a reduced dose. Dose modification due to diarrhea occurred in 26% of patients.

Palmar-Plantar Erythrodysesthesia Syndrome (PPES): Palmar-plantar erythrodysesthesia syndrome (PPES) occurred in 42% of patients treated with CABOMETYX and in 6% of patients treated with everolimus. Grade 3 PPES occurred in 8.2% of CABOMETYX-treated patients and in <1% of everolimus-treated patients. Withhold CABOMETYX in patients who develop intolerable Grade 2 PPES or Grade 3 PPES until improvement to Grade 1; resume CABOMETYX at a reduced dose. Dose modification due to PPES occurred in 16% of patients.

Reversible Posterior Leukoencephalopathy Syndrome (RPLS): RPLS, a syndrome of subcortical vasogenic edema diagnosed by characteristic finding on MRI, occurred in the cabozantinib clinical program. Perform an evaluation for RPLS in any patient presenting with seizures, headache, visual disturbances, confusion, or altered mental function. Discontinue CABOMETYX in patients who develop RPLS.

Embryo-fetal Toxicity: CABOMETYX can cause fetal harm when administered to a pregnant woman. Advise pregnant women of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with CABOMETYX and for 4 months after the last dose.

Adverse Reactions: The most commonly reported (≥25%) adverse reactions are: diarrhea, fatigue, nausea, decreased appetite, PPES, hypertension, vomiting, weight decreased, and constipation.

Drug Interactions: Strong CYP3A4 inhibitors and inducers: Reduce the dosage of CABOMETYX if concomitant use with strong CYP3A4 inhibitors cannot be avoided. Increase the dosage of CABOMETYX if concomitant use with strong CYP3A4 inducers cannot be avoided.

Lactation: Advise a lactating woman not to breastfeed during treatment with CABOMETYX and for 4 months after the final dose.

Reproductive Potential: Contraception―Advise females of reproductive potential to use effective contraception during treatment with CABOMETYX and for 4 months after the final dose. Infertility ―CABOMETYX may impair fertility in females and males of reproductive potential.

Hepatic Impairment: Reduce the CABOMETYX dose in patients with mild (Child-Pugh score [C-P] A) or moderate (C-P B) hepatic impairment. CABOMETYX is not recommended for use in patients with severe hepatic impairment.

Please see full Prescribing Information at https://HCP.cabometyx.com/downloads/cabometyxuspi.pdf.

About Exelixis

Exelixis, Inc. (Nasdaq: EXEL) is a biopharmaceutical company committed to the discovery, development and commercialization of new medicines with the potential to improve care and outcomes for people with cancer. Since its founding in 1994, three medicines discovered at Exelixis have progressed through clinical development to receive regulatory approval. Currently, Exelixis is focused on advancing cabozantinib, an inhibitor of multiple tyrosine kinases including MET, AXL and VEGF receptors, which has shown clinical anti-tumor activity in more than 20 forms of cancer and is the subject of a broad clinical development program. Two separate formulations of cabozantinib have received regulatory approval to treat certain forms of kidney and thyroid cancer and are marketed for those purposes as CABOMETYX™ tablets (U.S.) and COMETRIQ® capsules (U.S. and EU), respectively. Another Exelixis-discovered compound, COTELLIC™ (cobimetinib), a selective inhibitor of MEK, has been approved in major territories including the United States and European Union, and is being evaluated for further potential indications by Roche and Genentech (a member of the Roche Group) under a collaboration with Exelixis. For more information on Exelixis, please visit www.exelixis.com or follow @ExelixisInc on Twitter.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements, including, without limitation, statements related to: the therapeutic potential of CABOMETYX; Exelixis’ commitment to making CABOMETYX available to patients within the next couple weeks and the doses in which CABOMETYX will be available; the eligibility for an expedited review of Exelixis’ MAA for cabozantinib in advanced RCC by the EMA; Exelixis’ commitment to developing small molecule therapies for the treatment of cancer; and Exelixis’ primary focus on the development and commercialization of cabozantinib. Words such as “committed,” “will,” “eligible,” “focusing,” or other similar expressions identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are based upon Exelixis’ current plans, assumptions, beliefs, expectations, estimates and projections. Forward-looking statements involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of these risks and uncertainties, which include, without limitation: the degree of market acceptance of CABOMETYX and the availability of coverage and reimbursement for CABOMETYX; Exelixis’ ability to judge the proper size and level of experience of the commercialization teams required to support the launch of cabozantinib for advanced RCC in the U.S.; Exelixis’ dependence on third-party vendors; risks and uncertainties related to regulatory review and approval processes and Exelixis’ compliance with applicable legal and regulatory requirements; Exelixis’ ability to conduct clinical trials of cabozantinib sufficient to achieve a positive completion; and other factors discussed under the caption “Risk Factors” in Exelixis’ annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 29, 2016, and in Exelixis’ other filings with the SEC. The forward-looking statements made in this press release speak only as of the date of this press release. Exelixis expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Exelixis’ expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

References

1. American Cancer Society. Cancer Facts & Figures 2016. Atlanta: American Cancer Society; 2016.

2. Jonasch E., Gao J., Rathmell W.K., Renal cell carcinoma. BMJ. 2014; 349:g4797.

3. Decision Resources Report: Renal Cell Carcinoma. October 2014 (internal data on file).

4. Harshman, L.C. and Choueiri, T.K., Targeting the hepatocyte growth factor/c-Met signaling pathway in renal cell carcinoma. Cancer J. 2013; 19(4):316-23.

5. Rankin et al., Direct regulation of GAS6/AXL signaling by HIF promotes renal metastasis through SRC and MET. Proc Natl Acad Sci U S A. 2014; 111(37):13373-8.

6. Zhou L, Liu X-D, Sun M, et al. Targeting MET and AXL overcomes resistance to sunitinib therapy in renal cell carcinoma. Oncogene. 2015 Sep 14. doi:10.1038/onc.2015.343. [Epub ahead of print].

7. Koochekpour et al.,The von Hippel-Lindau tumor suppressor gene inhibits hepatocyte growth factor/scatter factor-induced invasion and branching morphogenesis in renal carcinoma cells. Mol Cell Biol. 1999; 19(9):5902–5912.

8. Takahashi A, Sasaki H, Kim SJ, et al. Markedly increased amounts of messenger RNAs for vascular endothelial growth factor and placenta growth factor in renal cell carcinoma associated with angiogenesis. Cancer Res. 1994;54:4233-4237.

9. Nakagawa M, Emoto A, Hanada T, Nasu N, Nomura Y. Tubulogenesis by microvascular endothelial cells is mediated by vascular endothelial growth factor (VEGF) in renal cell carcinoma. Br J Urol. 1997;79:681-687.

 

Investors:
Exelixis, Inc.
Susan Hubbard, 650-837-8194
Investor Relations & Corporate Communications
shubbard@exelixis.com
or
Media:
Exelixis, Inc.
Lindsay Treadway, 650-837-7522
Corporate Communications
ltreadway@exelixis.com
or
For Exelixis, Inc.
Madeleine Shin, 212-546-7806
mshin@dna-comms.com

Monday, April 25th, 2016 Uncategorized Comments Off on (EXEL) Announces FDA Approval of CABOMETYX™

(PETX) & (LLY) Division Announce Global Strategic Collaboration

Agreement to expand Elanco’s companion animal portfolio, extend global reach of GALLIPRANT® (grapiprant tablets) in canine osteoarthritis therapy

GREENFIELD, Ind. and LEAWOOD, Kan., April 25, 2016  — Elanco Animal Health, a division of Eli Lilly and Company (NYSE: LLY) and Aratana Therapeutics, Inc. (NASDAQ: PETX), today announced that Elanco has licensed animal health rights to Aratana’s Galliprant (grapiprant tablets), an FDA-approved therapeutic for the control of pain and inflammation associated with osteoarthritis in dogs. The agreement grants Elanco exclusive rights to develop, manufacture, market, and commercialize Galliprant globally, and co-promote the product with Aratana in the United States.

“This deal expands Elanco’s robust companion animal portfolio, which will now give our customers and their patients a spectrum of treatments for managing osteoarthritic pain,” said Jeff Simmons, president of Elanco Animal Health.”At Elanco, we understand the powerful role healthy animals play in making life better. As pets become important parts of our families, the need to help them live longer, healthier, higher quality lives increases as well.”

The most common type of arthritis in dogs, osteoarthritis affects up to 20 percent of the adult canine population.1 Osteoarthritis can result when joint cartilage – the protective material that cushions and allows smooth movement in a joint – becomes thin and breaks down over time, leading to pain and inflammation in the joint. The frequent result is stiffness and a reluctance to run, jump, or even climb steps.

“Aratana understands the value of relationships with the right collaborators,” said Steven St. Peter, M.D., President and Chief Executive Officer of Aratana Therapeutics. “We believe that this collaboration with Elanco, a leading animal health company, is a watershed event for the emerging pet biotech sector and further validates our focus on the pet therapeutics opportunity.”

Under the terms of the agreement, Aratana will receive an upfront payment of $45 million, additional payments upon achievement of certain development, regulatory and sales milestones up to $83 million, and co-promotion fees and royalty payments.

Contacts:
For Elanco inquires:
Keri McGrath Happe
Communications Manager
Elanco Animal Health
T: +1-317-370-8394
E: mcgrath_happeks@elanco.com

For Aratana inquires:
Craig Tooman
Aratana Therapeutics, Inc.
ctooman@aratana.com
(913) 353-1026

Important Safety Information
GALLIPRANT® (grapiprant tablets) is for use in dogs only. Do not use in dogs younger than 9 months of age and less than 8 lbs (3.6 kg), dogs used for breeding, or in pregnant or lactating dogs. Adverse reactions in dogs may include mild gastrointestinal effects including, vomiting, diarrhea and decreased appetite. Should not be used in dogs that have a hypersensitivity to grapiprant. If used long term, appropriate monitoring is recommended. Avoid use with COX-inhibiting NSAIDs or corticosteroids. Please see the full Prescribing Information.

ABOUT ELANCO
Elanco, a division of Eli Lilly and Company, provides comprehensive products and knowledge services to improve animal health and food-animal production in more than 70 countries around the world. With a global presence of approximately 7,000 people and offices in more than 40 countries, Elanco anticipates, serves and supports the diverse and evolving needs of its customers–from veterinarians to food producers to all those concerned with animal health–to help them address the challenges of a diverse and changing world. Together with our customers, we are committed to raising awareness about global food security, and celebrating and supporting the human-animal bond. Additional information about Elanco is available at www.elanco.com, or follow us @Elanco.

ABOUT ARATANA THERAPEUTICS
Aratana Therapeutics is a pet therapeutics company focused on licensing, developing and commercializing innovative pharmaceutical products for dogs and cats. Aratana believes that it can leverage the investment in the human pharmaceutical industry to bring therapeutics to pets in a capital and time efficient manner. The Company has multiple products approved by the Food and Drug Administration’s Center for Veterinary Medicine or licensed by the United States Department of Agriculture. The Company’s pipeline includes therapeutic candidates targeting pain, inappetence, cancer, viral diseases, allergy and other serious, unmet or underserved medical needs. Aratana believes providing innovative options to veterinarians and pet owners will help manage pets’ medical needs safely and effectively, resulting in longer and improved quality of life for pets. For more information, please visit www.aratana.com.

This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about the collaboration between Aratana and Elanco, and reflects Lilly, Elanco’s and Aratana’s current beliefs. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of development and commercialization. Among other things, there can be no guarantee that the research collaboration will yield successful results, that either company will achieve the anticipated benefits or that the results will be commercially successful. For further discussion of these and other risks and uncertainties, see Lilly’s and Aratana’s most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission, respectively. Except as required by law, Elanco and Aratana undertakes no duty to update forward-looking statements to reflect events after the date of this release.

1 JAVMA, Vol 236, No. 1, January 1, 2010 p 59-66

Monday, April 25th, 2016 Uncategorized Comments Off on (PETX) & (LLY) Division Announce Global Strategic Collaboration

(BLDP) Protonex Subsidiary Demonstrates UAV Propulsion System with Boeing Insitu

VANCOUVER and SOUTHBOROUGH, MA, April 25, 2016  – Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) announced that the company’s subsidiary, Protonex, has delivered prototype PEM (proton exchange membrane) fuel cell propulsion modules to Insitu, a wholly owned subsidiary of The Boeing Company, for use in its ScanEagle unmanned aerial vehicle (UAV). The ScanEagle platform has logged over 800,000 flight hours in military and civilian applications, making it one of the most successful UAV platforms to date.

Paul Osenar, President of Protonex said, “Fuel cell-powered systems offer compelling value for unmanned aerial vehicles due to improved reliability over small internal combustion engines, as well as very low heat and noise signatures. We believe that fuel cell systems have an extraordinary opportunity to play a key role in the propulsion of many unmanned systems. Our work with Insitu on the ScanEagle is an excellent example of the potential for fuel cells.”

Insitu’s ScanEagle is a versatile platform with multiple payload capabilities, including providing high-definition imaging at a fraction of the cost of larger UAV systems. The ScanEagle is operated in conjunction with Insitu’s Mark4 Launcher – a low-maintenance, runway-independent platform – along with its SkyHook® recovery system.

ScanEagle is 1.55 meters (5.1 feet) in length, has a wingspan of 3.11 meters (10.2 feet) and maximum takeoff weight of 22 kilograms (48.5 lbs). The ScanEagle can fly at a maximum speed of 41.2 meters per second (80 knots), reach a ceiling of 5,944 meters (19,500 feet) and has an endurance capability of more than 24-hours. Additional details and images are available at http://www.insitu.com/information-delivery/unmanned-systems/scaneagle.

Use of the Protonex fuel cell propulsion modules are expected to provide a number of advantages over traditional internal combustion engine propulsion systems, including: significant improvement in the expected MTBF (mean time between failures) of up to 5x; silent operation; 100% throttle flexibility, including mid-air start-stop capability; and use of existing JP8 fuel in ground refueling systems.

Work related to the integration of the Protonex fuel cell propulsion module into the ScanEagle system is ongoing, with flight demonstrations planned for the second half of 2016.

About Ballard Power Systems
Ballard Power Systems (NASDAQ: BLDP; TSX: BLD) provides clean energy products that reduce customer costs and risks, and helps customers solve difficult technical and business challenges in power and energy. To learn more about Ballard, please visit www.ballard.com.

This release contains forward-looking statements concerning anticipated product performance, customer benefits and market demand for our products. These forward-looking statements reflect Ballard’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard’s assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand.

These statements involve risks and uncertainties that may cause Ballard’s actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard’s future performance, please refer to Ballard’s most recent Annual Information Form. Readers should not place undue reliance on Ballard’s forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.  The Ballard Common Shares have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Monday, April 25th, 2016 Uncategorized Comments Off on (BLDP) Protonex Subsidiary Demonstrates UAV Propulsion System with Boeing Insitu