Archive for April, 2017

$RCON Subsidiary Qualifies for China’s Preferential Income Tax Rate

BEIJING, April 28, 2017  — Recon Technology, Ltd. (NASDAQ: RCON), (“Recon” or the “Company”), a leading independent oilfield services provider operating primarily in China, today announced the Company’s wholly-owned subsidiary, Nanjing Recon Technology Co. Ltd. (“Nanjing Recon”) has received a renewed National High-Tech Enterprise status and certification by the Science and Technology Department of Jiangsu Province.

The National High-Tech Enterprise status allows Nanjing Recon to benefit from a reduced corporate income tax rate of 15%, compared to 25% for companies without the national high-tech status. Nanjing Recon first received this status in 2009, and has since been renewed on three occasions. This renewed National High-Tech Enterprise status allows the Company to continue to receive the preferential income tax rate treatment until 2019.

Management Commentary

Mr. Shenping Yin, Chairman and CEO of Recon stated, “We are pleased to receive the renewed National High-Tech Enterprise status and to continue benefitting from the reduced corporate income tax rate. The other subsidiary of the Company, Beijing BHD Petroleum Technology, Ltd, has also qualified as a National High-Tech enterprise since 2009. We believe it reflects Recon’s commitment to technological advancement, and we continue to invest in enhancing our automation services and solutions.  Research and development remains an integral part of our long-term development strategy, as we feel that it separates Recon from our lesser capitalized competitors and improves our value proposition to our customer base throughout China.”

About China’s National High-Tech Enterprises

The certification of National High-Tech Enterprises was started in the early 1990s in order to establish China’s high-tech industry and promote the rapid development of high tech enterprises. The State Council issued “conditions and measures of the high and new technology enterprises in National High Tech Industrial Development Zone (Guo Fa [1991] No. 12)” in 1991 and authorized the State Science and Technology Commission to organize High-Tech Enterprises of National High-Tech Industrial Development Zone. It set up a series of preferential policies in tax, financial and trade to support the development of High-Tech Enterprises.

About Recon Technology, Ltd. (NASDAQ: RCON)

Recon Technology, Ltd. is China’s first listed non-state owned oil and gas field service company on NASDAQ. Recon supplies China’s largest oil exploration companies, Sinopec (NYSE:SNP) and CNPC, with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, RCON has taken leading positions on several segmented markets of the oil and gas filed service industry. RCON also has developed stable long-term cooperation relationship with its major clients, and its products and service are also well accepted by clients. For additional information please visit us at www.recon.cn.

Safe Harbor

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, 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.

Company Contact
Liu Jia
Recon Technology, Ltd.
+86 (10) 84945799
info@recon.cn
Investor Relations 
The Equity Group Inc.
In China In the U.S.
Katherine Yao, Senior Associate Adam Prior, Senior Vice President
+86-10-6587-6435 +1 (212) 836-9606
kyao@equityny.com aprior@equityny.com
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$BLDP Signs Further Follow-On Technology Solutions Agreement With Global Auto OEM

VANCOUVER, April 28, 2017 – Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced that it has signed a follow-on Technology Solutions contract with an unnamed leading global automotive OEM, further to the contract extension signed and announced on July 20, 2016. Under the new contract extension, Ballard will continue to provide expertise in proton exchange membrane (PEM) fuel cell technology to advance the customer’s membrane electrode assembly (MEA) development program related to future versions of its engine for fuel cell vehicles.

“We continue to see increased levels of fuel cell activity from major OEMs throughout the global automotive industry,” said Randy MacEwen, Ballard’s President and Chief Executive Officer. “At Ballard, we are uniquely positioned to offer these companies bundled Technology Solutions with access to our leading intellectual capital and intellectual property focused on PEM fuel cell technology. These opportunities provide high value to our customers and long-term embedded optionality for Ballard shareholders.”

Dr. Kevin Colbow, Ballard’s Vice President, Technology and Product Development added, “This latest follow-on contract reflects our customer’s satisfaction with the measured progress we have made during the 2014-16 period to provide compelling solutions for challenging technical issues. This next phase of our collaboration with this partner sets a clear roadmap for Ballard technology being integrated into future generations of their fuel cell vehicle platforms.”

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

This release contains forward-looking statements concerning market demand for our products and services. 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.

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$MYSZ Exceeds 200,000 Downloads of Smart Measurement Application SizeUp

AIRPORT CITY, Israel, April 28, 2017  —

MySize Inc. (the “Company”) (NASDAQ: MYSZ; TASE: MYSZ), developer of proprietary, smartphone measurement applications, announced today that the Company is progressing well and continues on its leadership path in ecommerce, having crossed the 200,000 mark in downloads of its flagship product SizeUp, a smart measuring tape.

Since its first introduction in September 2015, there have been 216,192 downloads of SizeUp, with an average of 700 downloads a day, following the launch of SizeUp DIY on January 5, 2017 at CES.

“This rate of growth in the number of downloads indicates that SizeUp DIY is becoming a standard and ‘a must have’ for iOS users, just like the flashlight and other daily required tools. We are thrilled that so many people are already benefiting from SizeUp, and hope the same for many more, especially when we introduce the Android version, which is coming soon,” said CEO Ronen Luzon.

SizeUp enables users to instantly and accurately measure a flat object, by moving the Smartphone from one side of an object to the other. Measurements can be taken in either inches or centimeters.

Click here to view a short video illustrating just how SizeUp DIY ‘measurement from the air’ makes shopping easier and more fun than ever.

Click here to download the SizeUp DIY measurement from the air app.

About MySize Inc.

MySize Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting edge technology with broad applications including apparel industry, e-commerce, shipping and parcel industry measurement.  This proprietary technology is driven by several patent-pending algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about MySize, please visit our website. www.mysizeid.com.

Follow us on Facebook, LinkedIn and Twitter.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements.  All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved.  Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections.  Known material factors that could cause actual results to differ materially from those in the forward-looking statements include: an active trading market for our common stock may not develop on NASDAQ; the trading price for our common stock may fluctuate significantly; and the Company will continue to be a “controlled company,” as defined under NASDAQ rules, and the interests of our controlling stockholder may differ from those of our public stockholders.  Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission.  Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Press Contact
Marjie Hadad
MH Communications
marjierhadad@gmail.com
+972-54-536-5220

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$REGN & $SNY Announce Kevzara® (sarilumab) Biologics License Application Accepted

New action date for Kevzara U.S. BLA is May 22, 2017

TARRYTOWN, N.Y. and PARIS, April 28, 2017 — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Sanofi today announced that the U.S. Food and Drug Administration has accepted the resubmission of the Biologics License Application for Kevzara (sarilumab) as a Class I response with a two month review timeline. Per the Prescription Drug User Fee Act (PDUFA), the new target action date is May 22, 2017. Kevzara is an investigational human monoclonal antibody directed against the IL-6 receptor being evaluated for the treatment of adult patients with moderately to severely active rheumatoid arthritis (RA) who have had an inadequate response or intolerance to one or more disease modifying antirheumatic drugs (DMARDs), such as methotrexate.

The companies recently received a positive opinion for Kevzara from the European Medicine Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP), and the European Commission (EC) is expected to make a final decision on the Marketing Authorization Application (MAA) for Kevzara in the European Union in the coming months. In Canada, Kevzara is approved for use in adult patients with moderately to severely active RA who have had an inadequate response or intolerance to one or more biologic or non-biologic DMARDs. The companies are also seeking approvals in a number of other countries globally.

About Sanofi
Sanofi, a global healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients’ needs. Sanofi is organized into five global business units: Diabetes and Cardiovascular, General Medicines and Emerging Markets, Sanofi Genzyme, Sanofi Pasteur and Consumer Healthcare. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).

About Regeneron Pharmaceuticals, Inc.
Regeneron (NASDAQ: REGN) is a leading science-based biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. Regeneron commercializes medicines for eye diseases, high LDL cholesterol, atopic dermatitis and a rare inflammatory condition and has product candidates in development in other areas of high unmet medical need, including rheumatoid arthritis, asthma, pain, cancer and infectious diseases. For additional information about the company, please visit www.regeneron.com or follow @Regeneron on Twitter 

Sanofi Forward-Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates regarding the clinical development of and potential marketing approvals for the product. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “will be” and similar expressions. Although Sanofi’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development of the product, future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve the product  as well as their decisions regarding labeling and other matters that could affect the availability or commercial potential of the product, the absence of guarantee that the product if approved will be commercially successful, risks associated with intellectual property, future litigation, the future approval and commercial success of therapeutic alternatives, and volatile economic conditions, as well as those risks discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in Sanofi’s annual report on Form 20-F for the year ended December 31, 2016. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements. 

Regeneron Forward-Looking Statements and Use of Digital Media
This news release includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, the nature, timing, and possible success and therapeutic applications of Regeneron’s products, product candidates, and research and clinical programs now underway or planned, including without limitation Kevzara® (sarilumab) for the treatment of adult patients with moderately to severely active rheumatoid arthritis or other potential indications; the likelihood and timing of possible regulatory approval and commercial launch of Regeneron’s late-stage product candidates, such as Kevzara (including possible regulatory approval of Kevzara by the U.S. Food and Drug Administration based on the Biologics License Application discussed in this news release); the impact of the opinion adopted by the European Medicine Agency’s Committee for Medicinal Products for Human Use discussed in this news release on the European Commission’s decision regarding the Marketing Authorization Application for Kevzara in the European Union; unforeseen safety issues resulting from the administration of products and product candidates in patients, including serious complications or side effects in connection with the use of Regeneron’s product candidates in clinical trials, such as Kevzara; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron’s ability to continue to develop or commercialize Regeneron’s products and product candidates, such as Kevzara; ongoing regulatory obligations and oversight impacting Regeneron’s marketed products, research and clinical programs, and business, including those relating to patient privacy; competing drugs and product candidates that may be superior to Regeneron’s products and product candidates; uncertainty of market acceptance and commercial success of Regeneron’s products and product candidates and the impact of studies (whether conducted by Regeneron or others and whether mandated or voluntary) on the commercial success of Regeneron’s products and product candidates, including without limitation Kevzara; the ability of Regeneron’s collaborators, suppliers, or other third parties to perform filling, finishing, packaging, labelling, distribution, and other steps related to Regeneron’s products and product candidates; coverage and reimbursement determinations by third-party payers, including Medicare and Medicaid; the ability of Regeneron to manufacture and manage supply chains for multiple products and product candidates; unanticipated expenses; the costs of developing, producing, and selling products; the ability of Regeneron to meet any of its sales or other financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license or collaboration agreement, including Regeneron’s agreements with Sanofi, Bayer HealthCare LLC, and Teva Pharmaceutical Industries Ltd. (or their respective affiliated companies, as applicable), to be cancelled or terminated without any further product success; and risks associated with intellectual property of other parties and pending or future litigation relating thereto, including without limitation the patent litigation relating to Praluent® (alirocumab) Injection, the permanent injunction granted by the United States District Court for the District of Delaware that, if upheld on appeal, would prohibit Regeneron and Sanofi from marketing, selling, or commercially manufacturing Praluent in the United States, the outcome of any appeals regarding such injunction, the ultimate outcome of such litigation, and the impact any of the foregoing may have on Regeneron’s business, prospects, operating results, and financial condition. A more complete description of these and other material risks can be found in Regeneron’s filings with the United States Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2016. Any forward-looking statements are made based on management’s current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update publicly any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.

Regeneron uses its media and investor relations website and social media outlets to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Regeneron is routinely posted and is accessible on Regeneron’s media and investor relations website (http://newsroom.regeneron.com) and its Twitter feed (http://twitter.com/regeneron).

Contacts Sanofi:
Media Relations Investor Relations
Ashleigh Koss George Grofik
Tel: 1 (908) 981-8745 Tel: +33 (0)1 53 77 45 45
ashleigh.koss@sanofi.com ir@sanofi.com
Contacts Regeneron:
Media Relations Investor Relations
Arleen Goldenberg Manisha Narasimhan, Ph.D.
Tel: 1 (914) 847-3456 Tel: 1 (914) 847-5126
Mobile: +1 (914) 260-8788 Manisha.narasimhan@regeneron.com
arleen.goldenberg@regeneron.com
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$HYGS Announces US$21 million Private Placement

MISSISSAUGA, Ontario, April 28, 2017 — Hydrogenics Corporation (NASDAQ:HYGS) (TSX:HYG) (the “Company” or “Hydrogenics”), a leading developer and manufacturer of hydrogen generation and hydrogen-based fuel cell modules, today announced that it has entered into a subscription agreement with Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership (“Hejili”) to issue 2,682,742 common shares of Hydrogenics to Hejili on a private placement basis, for gross proceeds to Hydrogenics of US$21,000,000 (the “Private Placement”) or approximately US$7.83 per common share. The subscription price represented a 10% premium to the 20 day volume-weighted average trading price of the Company’s common shares on the NASDAQ for the period ending April 27, 2017. Hydrogenics intends to use the proceeds of the Private Placement for general corporate purposes. Following Completion of the Private Placement, Hejili’s interest in Hydrogenics will be approximately 17.6%.

The subscription agreement provides, among other things, that Hejili will have pre-emptive rights and the right to nominate one director to the board of directors of Hydrogenics, and that Hejili will be subject to certain restrictions, including lock-up, transfer and voting restrictions, subject, in each case, to certain ownership threshold requirements.

The subscription agreement also provides that Hejili will cooperate with Hydrogenics to jointly develop the Chinese market for hydrogen, energy storage and fuel cell products.

The Private Placement is subject to certain closing conditions, including the receipt of all applicable stock exchange approvals and Chinese regulatory approvals.  The outside date, after which either the Company or Hejili can terminate the subscription agreement if closing has not occurred by such date, is June 12, 2017, subject to two 15 day extensions at the option of the Company.  There can be no assurance that the Chinese regulatory approvals will be obtained before the outside date or at all.

The material change report and subscription agreement will be filed by Hydrogenics on SEDAR and EDGAR.

GMP Securities Asia Limited acted as advisors to Hydrogenics on the Private Placement.  Hawkbridge Capital and Northeast Securities acted as advisors to Hejili on the Private Placement.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The securities will not be and have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold into the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the U.S. Securities Act), absent registration or an exemption from registration requirements. The securities have not been and will not be qualified for sale by way of a prospectus under Canadian securities laws.

About Hydrogenics
Hydrogenics Corporation (www.hydrogenics.com) is a world leader in engineering and building the technologies required to enable the acceleration of a global power shift. Headquartered in Mississauga, Ontario, Hydrogenics provides hydrogen generation, energy storage and hydrogen power modules to its customers and partners around the world. Hydrogenics has manufacturing sites in Germany, Belgium and Canada and service centers in Russia, Europe, the US and Canada.

About Hejili
Headquartered in Fuzhou, Fujian province, China, Fuzhou Bonded Zone Hejili Equity Investment Limited Partnership is a limited partnership founded in 2016.  Hejili’s partners include Fujian Snowman Co., Ltd. (SZSE:002639), Ningbo Meishan Bonded Zone Mingde Investment Partnership, Ningbo Meishan Bonded Zone Mingde Investment Partnership, and Snow-Hydro Industrial Investment Management Ltd.

Forward-looking Statements
This release contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995, and under applicable Canadian securities law. These statements are based on management’s current expectations and actual results may differ from these forward-looking statements due to numerous factors. Readers should not place undue reliance on Hydrogenics’ forward-looking statements. Investors are encouraged to review the section captioned “Risk Factors” in Hydrogenics’ regulatory filings with the Canadian securities regulatory authorities and the US Securities and Exchange Commission for a more complete discussion of factors that could affect Hydrogenics’ future performance. Furthermore, the forward-looking statements contained herein are made as of the date of this release, and Hydrogenics undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, unless otherwise required by law. The forward-looking statements contained in this release are expressly qualified by this.

Investor Contacts:
Bob Motz, Chief Financial Officer
(905) 361-3660
investors@hydrogenics.com

Chris Witty
Hydrogenics Investor Relations
(646) 438-9385
cwitty@darrowir.com
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$SVRA Announces Closing Of Merger With $MSTX

Commences Trading on Nasdaq Capital Market on April 28, 2017 Under Ticker Symbol “SVRA” Conference Call Scheduled for Tuesday May 2nd, 2017 at 4:30 p.m. ET / 3:30 p.m. CT

AUSTIN, Texas, April 27, 2017  — Savara Inc. (NASDAQ: SVRA), a clinical-stage specialty pharmaceutical company focused on the development and commercialization of novel therapies for the treatment of serious or life-threatening rare respiratory diseases, today announced the closing of its previously announced merger with Mast Therapeutics, Inc. (NYSE MKT: MSTX), under which the stockholders of Savara have become the majority owners of Mast, and the operations of Mast and Savara have combined. The post-merger company, named Savara Inc., is based in Austin, TX and features three inhaled product candidates, each in advanced stages of clinical development. The company will be led solely by Savara’s current management team. Two independent members of the Mast board remain on the post-merger board together with all five members of the Savara board. Savara’s common stock will commence trading on April 28th, 2017 on the Nasdaq Capital Market under the trading symbol “SVRA”.

“Savara’s transition to the public market marks a significant milestone for us, and serves as testament to the determination of our team as well as the support of our investors to date,” stated Rob Neville, Chairman and CEO of Savara. “Savara’s team is passionate about helping those who suffer from rare and debilitating lung diseases and will dynamically pursue opportunities to develop impactful products to treat such conditions. We believe Savara presents an attractive business opportunity with our pipeline of unique products with considerable market potential, as well as significant value-driving clinical milestones.”

Savara began the development of AeroVanc in 2010 and is now in preparation for a pivotal Phase 3 study. In July 2016, Savara acquired Serendex Pharmaceuticals adding Molgradex to its pipeline. Molgradex is currently in Phase 2/3 development. With the closing of the Mast merger, Savara adds the Aironite program to its pipeline (also known as AIR001). Savara intends to continue its growth strategy focused on indication expansion, strategic development partnerships and product acquisitions.

In connection with the closing of the merger, Mast effected a 1 for 70 reverse split of its common stock. Post-merger and post-reverse split, Savara has approximately 15 million shares of common stock issued and outstanding with prior Savara stockholders collectively owning approximately 77% of the combined company, and prior Mast stockholders collectively owning approximately 23% of the combined company. Prior to the merger closing, Savara stockholders exercised certain previously issued warrants to purchase Savara shares and invested additional capital into the company, resulting in aggregate net proceeds of approximately $4 million.

Savara’s pipeline now includes:

  • Molgradex, an inhaled nebulized GM-CSF to treat pulmonary alveolar proteinosis (PAP) currently in Phase 2/3 development;
  • AeroVanc, an inhaled dry-powder vancomycin to treat chronic methicillin-resistant Staphylococcus aureus (MRSA) pulmonary infection in cystic fibrosis (CF) in preparation for a pivotal Phase 3 study; and
  • Aironite, an inhaled nebulized sodium nitrite solution to treat heart failure with preserved ejection fraction (HFpEF) currently in Phase 2 development.

Select Development Milestones

  • Completing negotiations with the U.S. Food and Drug Administration (FDA) on the requirements for a pivotal clinical study of Molgradex in the U.S. in Q2/2017;
  • Initiating a pivotal Phase 3 study of AeroVanc in Q3/2017;
  • Announcing an indication expansion strategy of Molgradex for the treatment of a rare lung infection in Q3/2017;
  • Announcing top-line results from a Phase 2/3 study of Molgradex, expected to be registration-enabling in Europe and Japan, in Q1/2018; and
  • Announcing results from an ongoing Phase 2 study of Aironite being conducted by the Heart Failure Clinical Research Network in H1/2018.

Conference Call and Webcast

Savara will hold a conference call on Tuesday May 2nd, 2017, at 4:30 p.m. Eastern Time / 3:30 p.m. Central Time to provide an overview and business update. Interested parties may access the conference call by dialing (855) 239-3120 from the U.S., (855) 669-9657 from Canada, and (412) 542-4127 from outside the U.S. and should request the Savara Inc. Call. A live webcast of the conference call will be available online from the Investors section of Savara’s website at http://www.savarapharma.com/investors/events/. Replays of the webcast will be available on Savara’s website for 30 days and a telephone replay will be available through May 9th, 2017 by dialing (877) 344-7529 from the U.S., (855) 669-9658 from Canada, and (412) 317-0088 from elsewhere outside the U.S. and entering replay access code 10104600.

About Savara

Savara Inc. is a clinical-stage specialty pharmaceutical company focused on the development and commercialization of novel therapies for the treatment of serious or life-threatening rare respiratory diseases. Savara’s pipeline comprises AeroVanc, a Phase 3 ready inhaled vancomycin, Molgradex, a Phase 2/3 stage inhaled granulocyte-macrophage colony-stimulating factor, or GM-CSF and Aironite, an inhaled nebulized sodium nitrite solution to treat HFpEF. Savara’s strategy involves expanding its pipeline of best-in-class products through indication expansion, strategic development partnerships and product acquisitions, with the goal of becoming a leading company in its field. Savara’s management team has significant experience in orphan drug development and pulmonary medicine, in identifying unmet needs, creating and acquiring new product candidates, and effectively advancing them to approvals and commercialization. More information can be found at www.savarapharma.com. (Twitter: @SavaraPharma)

Forward Looking Statements

Savara cautions you that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Such statements include, but are not limited to, statements regarding dynamically pursuing opportunities to develop impactful products, Savara presenting an attractive business opportunity with a pipeline of unique products with considerable market potential, as well as significant value-driving clinical milestones, Savara’s intent to continue its growth strategy focused on indication expansion, strategic development partnerships and product acquisitions, Savara’s pipeline and select developmental milestones. Savara may not actually achieve any of the matters referred to in such forward looking statements, and you should not place undue reliance on these forward-looking statements. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Savara’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources for Savara’s operations and to conduct or continue planned clinical development programs, the timing and ability of Savara to raise additional equity capital to fund continued operations; the ability to successfully develop Savara’s product candidates, and the risks associated with the process of developing, obtaining regulatory approval for and commercializing drug candidates that are safe and effective for use as human therapeutics. Risks and uncertainties facing Savara are described more fully in Savara’s filings with the Securities and Exchange Commission including the most recent Form 8-K filed on April 27, 2017, other filings on Form 8-K, the Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and the Registration Statement on Form S-4 related to the Mast/Savara merger. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Savara undertakes any obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.

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$PBNC Expands in North Carolina, via Acquisition of Paragon

SUFFOLK, Va. and RALEIGH, N.C., April 27, 2017 — Hampton Roads based TowneBank  (NASDAQ:TOWN) and Raleigh based Paragon Commercial Corporation, the parent company of Paragon Commercial Bank (“Paragon”) (NASDAQ:PBNC), today announced the signing of a definitive merger agreement pursuant to which TowneBank will acquire Paragon creating a $9.7 billion community bank. The acquisition of Paragon will expand Towne’s community banking franchise into two of the fastest growing metropolitan areas in the United States, Charlotte and Raleigh, North Carolina adding to Towne’s current presence in the Norfolk-Virginia Beach Virginia MSA, the Richmond Virginia MSA and Northeastern North Carolina.

Based on financial data as of March 31, 2017, the combined company would have total assets of $9.7 billion, total loans of $7.1 billion and total deposits of $7.5 billion. On a pro forma basis, TowneBank will possess the second largest deposit market share among community banks operating in the demographically attractive Raleigh, North Carolina MSA. In addition, the pro forma entity will have an established and scalable loan and deposit platform in the Charlotte, North Carolina marketplace.

Under the terms of the merger agreement, common shareholders of Paragon will receive a fixed exchange ratio of 1.7250 shares of TowneBank common stock for each outstanding share of Paragon common stock.  This implies a deal value per share of $59.25 or approximately $323.7 million based on TowneBank’s closing stock price of $34.35 on April 26, 2017.  Pending customary regulatory and shareholder approvals, the merger is scheduled to close in the fourth quarter of 2017.

Towne plans to operate in the Raleigh, Charlotte, and Cary markets as Paragon Bank, a division of TowneBank.  Robert C. Hatley, President and CEO of Paragon, will continue in his current role as the President and CEO of the Paragon Division as well as the President of Towne’s North Carolina operations.  Hatley and Paragon Board Chairman, Howard Jung, will join the TowneBank corporate board.

The Paragon Executive Management team consisting of Matthew C. Davis, Executive Vice President and Chief Operating Officer, James F. Fielding, Senior Vice President and Chief Credit Officer, Brian K. Reid, Triangle Market President and Phillip R. Jurney, Charlotte Market President, will continue in their current Paragon roles.

“We are really excited to welcome the extraordinarily talented Paragon team into our Towne family,” said G. Robert Aston, Jr., Chairman and CEO of TowneBank.  “From our humble beginnings in 1999, both Towne and Paragon have prospered through a caring culture of serving others and enriching lives while continuing to build a great community asset for the communities we serve.”

“We have had great admiration for the TowneBank team for many years and have been impressed by the way they’ve grown their franchise into one of the top community banks in Virginia and North Carolina,” stated Robert C. Hatley, President and CEO of Paragon. “We believe partnering with TowneBank will provide us with a strong foundation and additional capacity to deliver our unique private banking experience business model to businesses, professionals, executives and entrepreneurs in our target markets. We expect this merger will be a truly great outcome for our shareholders and will position us for continued success.”

Extensive due diligence was performed over a multi-week period leading up to the merger. Under the proposed merger terms, and inclusive of estimated expenses associated with crossing $10 billion in total assets, the acquisition of Paragon is expected to be immediately accretive to TowneBank’s earnings in 2018 and also thereafter. In addition, the transaction is expected to be nominally dilutive, less than 1%, to TowneBank’s tangible book value at closing. TowneBank’s capital ratios are expected to continue to exceed well-capitalized regulatory standards.

An investor presentation outlining the transaction is provided on the TowneBank website at www.townebank.com under “Investor Relations”.

Sandler O’Neill + Partners, LP acted as financial advisor to TowneBank and Williams Mullen acted as its legal advisor in the transaction.  Raymond James & Associates, Inc. acted as financial advisor to Paragon and Wyrick Robbins Yates & Ponton LLP acted as its legal advisor.

About TowneBank

As one of the top community banks in Virginia and North Carolina, TowneBank operates 37 banking offices serving Chesapeake, Chesterfield County, Glen Allen, Hampton, James City County, Mechanicsville, Newport News, Norfolk, Portsmouth, Richmond, Suffolk, Virginia Beach, Williamsburg, and York County in Virginia, along with Moyock, Grandy, Camden County, Southern Shores, Corolla and Nags Head in North Carolina. Towne also offers a full range of financial services through its controlled divisions and subsidiaries that include Towne Investment Group, Towne Insurance Agency, Towne Benefits, TowneBank Mortgage, TowneBank Commercial Mortgage, Berkshire Hathaway HomeServices Towne Realty, Towne 1031 Exchange, LLC, and Beach Properties of Hilton Head. Local decision-making is a hallmark of its hometown banking strategy that is delivered through the leadership of each group’s President and Board of Directors.  With total assets of $8.2 billion as of March 31, 2017, TowneBank is one of the largest banks headquartered in Virginia.

About Paragon

Paragon Commercial Corporation is the parent company of Paragon Bank, which provides a private banking experience to businesses, professionals, executives, entrepreneurs and other individuals. Founded in Raleigh, North Carolina in 1999, Paragon Bank provides banking services through highly responsive professionals, an extensive courier service, online and mobile technologies, free worldwide ATM access and a select number of strategically placed offices in Raleigh, Cary and Charlotte, North Carolina.

Additional Information and Where to Find It

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the merger, Paragon will file with the Securities and Exchange Commission (“SEC”) a preliminary proxy statement. Paragon will deliver a definitive proxy statement/prospectus to its stockholders seeking approval of the merger and related matters. In addition, each of TowneBank and Paragon may file other relevant documents concerning the proposed merger with the Federal Deposit Insurance Corporation (“FDIC”) and SEC.

Paragon stockholders are strongly urged to read the definitive proxy statement/prospectus regarding the proposed merger when it becomes available and other relevant documents filed with the FDIC and SEC, as well as any amendments or supplements to those documents, because they will contain important information about TowneBank, Paragon and the proposed merger. Free copies of the definitive proxy statement/prospectus, as well as other filings containing information about Paragon, may be obtained after their filing at the SEC’s website (http://www.sec.gov). In addition, free copies of the definitive proxy statement/prospectus, when available, also may be obtained by directing a request by telephone or mail to Paragon Commercial Corporation, 3535 Glenwood Avenue, Raleigh, North Carolina 27612, Attention: Investor Relations (telephone: (919) 788-7770), or by accessing the Paragon’s website at https://www.paragonbank.com under “About Us—Investor Relations.”

Paragon, TowneBank and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Paragon’s stockholders in connection with the proposed merger. Information about the directors and executive officers of Paragon and TowneBank and other persons who may be deemed participants in the solicitation, including their interests in the merger, will be included in the definitive proxy statement/prospectus when it becomes available. Additional information about Paragon’s executive officers and directors can be found in Paragon’s final prospectus filed with the SEC on June 17, 2016. Additional information regarding TowneBank’s executive officers and directors can be found in TowneBank’s definitive proxy statement in connection with its 2017 Annual Meeting of Stockholders filed with the FDIC on April 21, 2017. You may obtain free copies of each document from Paragon as described in the preceding paragraph and from TowneBank by directing a request by telephone or mail to TowneBank, 6001 Harbour View Boulevard, Suffolk, Virginia 23425, Attention: Investor Relations (telephone: (757) 638-6794), or by accessing TowneBank’s website at https://townebank.com under “Investor Relations.”  The information on TowneBank’s and Paragon’s websites is not, and shall not be deemed to be, a part of this release or incorporated into other filings either company makes with the FDIC or SEC.

Forward-Looking Statements

Statements made in this release, other than those concerning reported historical financial information, may be considered forward-looking statements, which speak only as of the date of this release and are based on current expectations and involve a number of assumptions. These include statements as to the anticipated benefits of the merger, including future financial and operating results, cost savings and enhanced revenues that may be realized from the merger as well as other statements of expectations regarding the merger and any other statements regarding future results or expectations. Each of TowneBank and Paragon intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and is including this statement for purposes of these safe harbor provisions. The companies’ respective abilities to predict results, or the actual effect of future plans or strategies, is inherently uncertain. Factors which could have a material effect on the operations and future prospects of each of TowneBank and Paragon, and the resulting company, include but are not limited to: the businesses of TowneBank and Paragon may not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected; expected revenue synergies and cost savings from the merger may not be fully realized or realized within the expected timeframe; revenues following the merger may be lower than expected; customer and employee relationships and business operations may be disrupted by the merger; the ability to obtain required regulatory and stockholder approvals, and the ability to complete the merger on the expected timeframe may be more difficult, time-consuming or costly than expected; changes in interest rates, general economic and business conditions; legislative/regulatory changes; the monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve; the quality and composition of the loan and securities portfolios; demand for loan products; deposit flows; competition; demand for financial services in the companies’ respective market areas; the companies’ respective implementation of new technologies and their ability to develop and maintain secure and reliable electronic systems; changes in the securities markets; and changes in accounting principles, policies and guidelines; and other risk factors detailed from time to time in filings made by TowneBank with the FDIC or Paragon with the SEC. TowneBank and Paragon undertake no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise.

For more information contact:
G. Robert Aston, Jr., TowneBank Chairman and CEO, (757) 638-6780
Robert C. Hatley, Paragon Commercial Corporation President and CEO, (919) 534-7400
William B. Littreal, TowneBank Chief Investor Relations Officer and CSO, (757) 638-6813
Thursday, April 27th, 2017 Uncategorized Comments Off on $PBNC Expands in North Carolina, via Acquisition of Paragon

$DRYS Announces Full Repayment of Last Legacy Commercial Lender

ATHENS, GREECE–(Apr 27, 2017) – DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a diversified owner of ocean going cargo vessels, announced today that it has fully repaid its remaining commercial loan facility of approximately $15.2 million, including overdue interest.

Updated Key Information as of April 27, 2017:

  • Cash and cash equivalents about $384 million, (or $6.52 per share)
  • Book value of vessels, including deposits about $238 million, (or $4.04 per share)
  • Sifnos Loan Facility balance about $200.0 million
  • Number of Shares Outstanding about 58,905,719

Mr. George Economou, Chairman and Chief Executive Officer commented:

“We are very excited to have completed the remarkable transformation of our balance sheet. Having all of our assets debt free, no mandatory loan payments over the next 4 years and available liquidity of $384 million, we strongly believe that our efforts to access bank debt financing for the first time since November 2014 will be successful and will allow us to further grow the size our fleet.”

About DryShips

The Company is a diversified owner of ocean going cargo vessels that operate worldwide. The Company owns a fleet of (i) 13 Panamax drybulk vessels; (ii) four Newcastlemax drybulk vessels, which are expected to be delivered in the second quarter of 2017; (iii) four Kamsarmax drybulk vessels, three second-hand vessels expected to be delivered in the second quarter of 2017 and one newbuilding expected to be delivered in the third quarter of 2017; (iv) one very large crude carrier, which is expected to be delivered in the second quarter of 2017; (v) one Aframax tanker and one Aframax second-hand tanker, which is expected to be delivered in the second quarter of 2017; (vi) four VLGC newbuildings, two of which are expected to be delivered in June and September 2017 and the other two before the end of 2017; and (vii) six offshore support vessels, comprising two platform supply and four 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. The information contained on the Company’s website does not constitute a part of this press release.

Forward-Looking Statements

Matters discussed in this press 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 the Company’s records and other data available from third parties. Although the Company believes 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 the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

Important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the factors related to the strength of world economies and currencies, general market conditions, including changes in charter rates and vessel values, failure of a seller or shipyard to deliver one or more vessels, failure of a buyer to accept delivery of a vessel, our inability to procure acquisition financing, default by one or more charterers of our ships, changes in demand for drybulk or LPG commodities, changes in demand that may affect attitudes of time charterers, scheduled and unscheduled drydocking, changes in our voyage and operating expenses, including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations, changes in our relationships with the lenders under our debt agreements, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents, international hostilities and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by DryShips Inc. with the 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

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$LTEA Increases Leadership Capability

Virginia Morris appointed as Chief Sales & Marketing Officer Peter Dydensborg appointed as Vice President of Market Development & Sales

HICKSVILLE, NY–(Apr 27, 2017) – Long Island Iced Tea Corp. (NASDAQ: LTEA) (the “Company”), a growth-oriented company focused on the non-alcoholic ready-to-drink (“NARTD”) segment in the beverage industry, today announced the appointment of Virginia Morris as Chief Sales & Marketing Officer of the Company. Ms. Morris brings with her over 20 years of experience managing and growing iconic brands, consulting on retail/brand strategy, local implementation and sales execution, business transformation and national/private brand development.

As the Chief Sales & Marketing Officer, Ms. Morris will be responsible for driving the growth agenda for the Company’s entire portfolio of brands. She will work closely with the Chief Executive Officer, Philip Thomas, and oversee key sales and marketing functions including brand management, channel strategy development and execution, and product innovation.

Philip Thomas commented, “It is critical as a company that we maintain our substantial growth trajectory and continue to execute on our growth strategy. This requires leadership from a world class sales and marketing executive — we feel Virginia exceeds these requirements, and we are thrilled that she has chosen to take on this new role in our company at this exciting stage of its development.”

“After being introduced to Phil and hearing about the recent achievements of the Company, I gained an appreciation for the significant market opportunity for the Long Island Iced Tea® brand and am convinced it is a brand with high potential in the United States and globally,” Morris added. “Our portfolio of brands is well positioned to capitalize on the growing better-for-you consumer trends.”

Ms. Morris previously spent eight years at Daymon Worldwide, a global leader in consumables retailing and private label, where she most recently was VP of Global Consumer and Innovation Strategy, leading the creation of the organization’s first Global Center of Excellence. Ms. Morris also spent six years at Allied Domecq, a global leader in spirits and wine, in leadership positions for the Kahlua and Stolichnaya brands. She previously held other leadership positions at Diageo and British American Tobacco. Ms. Morris received a Master of Business Administration from Indiana University and a bachelor’s degree from Vanderbilt University.

Peter Dydensborg, who was the Company’s first employee and an early investor/shareholder and had been the Company’s Chief Operating Officer for the last 4 years, stated, “Virginia is the ideal candidate with the right skill set to take this business to the next level. I look forward to working with Virginia in my new capacity as VP of Market Development & Sales.”

About Long Island Iced Tea Corp.

Headquartered in Long Island, NY, Long Island Iced Tea Corp. operates in the non-alcohol ready-to-drink segment of the beverage industry. The Company’s flagship brand ‘The Original Long Island Brand Iced Tea®‘, together with ‘The Original Long Island Brand Lemonade™’ are marketed as premium beverages made with non-GMO ingredients. The company also imports and markets ‘ALO Juice®‘ a functional Aloe Vera based beverage. The Company’s portfolio of premium brands sits within the ‘better-for-you’ category of the beverage industry, and are offered to consumers at an affordable price, reflecting the Company’s mission. Its beverages are sold primarily through a network of regional chains and distributors primarily on the East Coast and the Midwest of the United States, as well as Canada and Latin America. The Company’s website is www.longislandicedtea.com.

Forward Looking Statements

This press release includes statements of the Company’s expectations, intentions, plans and beliefs that constitute “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company’s business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “thinks,” “estimates,” “seeks,” “predicts,” “could,” “projects,” “potential” and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include its history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption “Risk Factors.” When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.

Contacts:

For Investors
Phil Thomas
Long Island Iced Tea Corp.
1-855-542-2832
info@longislandteas.com

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$CDXC Announces Strategic Investment Led by Mr. Li Ka-shing

IRVINE, Calif., April 27, 2017  — ChromaDex Corp. (NASDAQ:CDXC), an innovator of proprietary health, wellness and nutritional ingredients that creates science-based solutions for dietary supplement, food and beverage, skin care, sports nutrition, and pharmaceutical products, announced today that it has entered into a securities purchase agreement for the sale of up to $25 million of its common stock in a private placement led by Hong Kong business leader Mr. Li Ka-shing.

Through Horizons Ventures, Mr. Li has invested in many innovative companies in the last decade, including Facebook, Spotify, DeepMind, Siri, Impossible Foods and Modern Meadow. With Horizons Ventures’ strong global presence, the new investment will be able to support future ChromaDex developments in the global marketplace.

Frank Jaksch, Jr., CEO and co-founder of ChromaDex, commented, “NIAGEN® has reached an inflection point where top scientists at leading universities and research institutions are fascinated with the compound resulting in over 100 collaborative agreements currently in place. We are now ready to show the world the anti-aging capabilities of NIAGEN® and are truly honored to have Horizons Ventures as a strategic investor and be associated with their family of prestigious global investments.”

Tony Lau of Horizons Ventures commented, “We see the category of healthy aging as an emerging, high-growth opportunity. We look forward to supporting ChromaDex in developing products in the healthy aging market and expand the market overseas.”

Robert Fried, President, and Chief Strategy Officer of ChromaDex, added, “Mr. Li Ka-shing and Horizons Ventures have an extraordinary track record in identifying momentous innovation.   This is an important milestone for ChromaDex in our mission to be a world leader in the anti-aging space, with emphasis on NIAGEN® and NAD precursors.”

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), is acting as exclusive placement agent in the private placement.

The shares of common stock being sold in the private placement will not have been registered under the Securities Act of 1933, as amended (the “Act”).  Accordingly, such shares may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements under the Act.  In connection with the private placement, ChromaDex will enter into a registration rights agreement with the investors.  Additional details about the transaction are included in a Form 8-K filed by ChromaDex concurrently with this release.

About NIAGEN® Nicotinamide Riboside and NAD+
NIAGEN® is the world’s first and only commercially available, nature-identical form of nicotinamide riboside (NR). NR is a next-generation form of vitamin B3 that acts as a potent and bioavailable booster of nicotinamide adenine dinucleotide (NAD+), which is vital to functions that ensure proper cellular and energy metabolism. NAD+ enables the mitochondria – the ‘powerhouses of the cell’ to convert the food we eat into the energy our body needs to sustain all its functions. It is essential for life.

A decade’s worth of pre-clinical research, along with the first published human clinical trial, demonstrate that supplementing with NR effectively boosts NAD+ levels in both animals and people. With six patents issued and more pending, NIAGEN® is a novel ingredient brought to you only by ChromaDex. Its data were reviewed by the US Food and Drug Administration as part of its New Dietary Ingredient (NDI) notification which made it available for use in dietary supplements. NIAGEN® is also generally recognized as safe (GRAS). For additional information about NIAGEN®, visit www.Chromadex.com.  For additional information about NR or NAD+, visit www.aboutnr.com.

About ChromaDex:
ChromaDex leverages its complementary business units to discover, acquire, develop and commercialize patented and proprietary ingredient technologies that address the dietary supplement, food, beverage, skin care and pharmaceutical markets. In addition to our ingredient technologies unit, we also have business units focused on natural product fine chemicals (known as “phytochemicals”), chemistry and analytical testing services, and product regulatory and safety consulting. As a result of our relationships with leading universities and research institutions, we are able to discover and license early stage, IP-backed ingredient technologies. We then utilize our in-house chemistry, regulatory and safety consulting business units to develop commercially viable ingredients. Our ingredient portfolio is backed with clinical and scientific research, as well as extensive IP protection. Our portfolio of patented ingredient technologies includes NIAGEN® nicotinamide riboside; pTeroPure® pterostilbene; PURENERGY®, a caffeine-pTeroPure® co-crystal; IMMULINA, a spirulina extract; and AnthOrigin, anthocyanins derived from a domestically-produced, water-extracted purple corn. To learn more about ChromaDex, please visit www.ChromaDex.com.

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, including, without limitation, statements related to the anticipated proceeds to be received in the private placement, success of Horizons Ventures’ investments, Horizons Ventures’ ability to support future ChromaDex developments in the global marketplace, the innovative qualities of NIAGEN®, results of the NIAGEN® studies and their significance, and the anti-aging capabilities of nicotinamide riboside. 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. More detailed information about ChromaDex and the risk factors that may affect the realization of forward-looking statements is set forth in ChromaDex’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and other filings submitted by ChromaDex 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, and actual results may differ materially from those suggested by these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement and ChromaDex undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.

ChromaDex Investor Relations Contact:
Andrew Johnson, Director of Investor Relations 
949-419-0288
andrewj@chromadex.com

ChromaDex Public Relations Contact:
Breah Ostendorf, Director of Marketing 
949-537-4103
breaho@chromadex.com
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$EXAS $48.4 Million Q1 Revune, 150 Percent YOY Volume Growth

Gross margin expands to 65 percent during first quarter – Revenue guidance raised to $195-205 million for 2017, from $170-180 million; – Guidance for completed Cologuard tests increased to at least 470,000 tests, from at least 415,000; – 10,000 additional providers ordered Cologuard during the first quarter, and insurance coverage expanded to 78 percent.

MADISON, Wis., April 27, 2017 — Exact Sciences Corp. (Nasdaq: EXAS) today announced that the company generated revenues of $48.4 million and completed approximately 100,000 Cologuard tests during the quarter ended March 31, 2017. First-quarter 2017 revenues and completed Cologuard test volume grew 226 percent and 150 percent from the same period of 2016, respectively.

“Our team is proud of the impact we are having on the early detection of colon cancer,” said Kevin Conroy, chairman and CEO of Exact Sciences. “More than 450,000 people have been screened using Cologuard since it was launched, including many patients who had never previously been screened. We believe that increasing patient demand and physician awareness, and Cologuard’s recent inclusion in the Star Ratings position our test well for long-term, sustainable growth.”

About 10,000 health care providers ordered their initial Cologuard test during the first quarter of 2017. Since Cologuard was launched, approximately 70,000 providers have ordered the test through the first quarter of 2017, including approximately 56,000 of the estimated 200,000 active primary care providers in the United States.

As of April 26, 2017, approximately 197 million Americans are members of health plans that cover Cologuard, including 78 percent of those who are indicated for colorectal cancer screening.

First-Quarter Financial Results

Exact Sciences reported total revenues of $48.4 million during the first quarter of 2017, compared to $14.8 million for the same period of 2016. Average recognized revenue per test during the first quarter of 2017 was $485.

Of the revenue recognized in the three months ended March 31, 2017, approximately $4.3 million, or $43 per test, related to the one-time impact of certain payers meeting the company’s revenue recognition criteria for accrual-basis revenue. Revenue was previously recognized on a cash-basis for these payers. Please see the “How We Recognize Revenue” section of the Management’s Discussion and Analysis in our Form 10-Q for additional information related to the change in revenue recognition.

Average cost per test for the first quarter of 2017 was $170, compared to $227 for the same period of 2016. The company’s gross margin improved from 39 percent to 65 percent from the first quarter of 2016 to the same period of 2017. The change in revenue recognition contributed approximately 3 percentage points to the first-quarter 2017 gross margin.

Operating expenses for the first quarter of 2017 were $66.9 million, compared to $53.7 million for the same period in 2016. The increase was due primarily to personnel additions and higher television advertising spending.

For the first quarter of 2017, Exact Sciences reported a net loss of $34.9 million, or $0.32 per share. The company reported a net loss of $47.5 million, or $0.49 per share, for the same period of 2016.

Cash utilization during the first quarter of 2017 was $36.4 million. Exact Sciences ended the first quarter of 2017 with cash, cash equivalents and marketable securities of $274.7 million, compared to $311.1 million at Dec. 31, 2016.

Updated 2017 Outlook

The company anticipates revenue of $195-205 million and completed Cologuard test volume of at least 470,000 tests during 2017. Previous guidance was $170-180 million in revenue and at least 415,000 completed Cologuard tests. For the second quarter, the company anticipates at least 115,000 completed Cologuard tests.

First-Quarter Conference Call & Webcast

Company management will host a conference call and webcast on Thursday, April 27, 2017, at 10 a.m. ET to discuss first-quarter 2017 results. The webcast will be available at www.exactsciences.com. Domestic callers should dial 877-201-0168 and international callers should dial +1-647-788-4901.

An archive of the webcast and a replay of the conference call will be available at www.exactsciences.com or by calling 800-585-8367 domestically or +1-416-621-4642 internationally. The access code for the conference call and replay is 1619923. The conference call, webcast and replay are open to all interested parties.

About Cologuard

Cologuard was approved by the FDA in August 2014 and results from Exact Sciences’ prospective 90-site, point-in-time, 10,000-patient pivotal trial were published in the New England Journal of Medicine in March 2014. Cologuard is included in the recommendations of the U.S. Preventive Services Task Force (2016) and the American Cancer Society’s (2014) colorectal cancer screening guidelines. Stool DNA is included in the combined screening guidelines of the American Cancer Society / U.S. Multi-Society Task Force/American College of Radiology (2008), the American College of Gastroenterology guidelines (2009) and the National Comprehensive Cancer Network (2016). Cologuard is indicated to screen adults of either sex, 50 years or older, who are at average risk for colorectal cancer. Cologuard is not for everyone and is not a replacement for diagnostic colonoscopy or surveillance colonoscopy in high-risk individuals. False positives and false negatives do occur. Any positive test result should be followed by a diagnostic colonoscopy. Following a negative result, patients should continue participating in a screening program at an interval and with a method appropriate for the individual patient. Cologuard performance when used for repeat testing has not been evaluated or established. For more information about Cologuard, visit www.cologuardtest.com. Rx Only.

About Exact Sciences Corp.

Exact Sciences Corp. is a molecular diagnostics company focused on the early detection and prevention of the deadliest forms of cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. For more information, please visit the company’s website at www.exactsciences.com, follow Exact Sciences on Twitter @ExactSciences or find Exact Sciences on Facebook.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. All statements other than statements of historical facts included in this news release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, anticipated results of our sales and marketing efforts, expectations concerning payer reimbursement and the anticipated results of our product development efforts. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully and profitably market our products and services; the acceptance of our products and services by patients and healthcare providers; our ability to meet demand for our products and services; the willingness of health insurance companies and other payers to cover Cologuard and reimburse us for our performance of the Cologuard test; the amount and nature of competition from other cancer screening products and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of changes in healthcare pricing, coverage and reimbursement; recommendations, guidelines and quality metrics issued by various organizations such as the U.S. Preventive Services Task Force, the American Cancer Society, and the National Committee for Quality Assurance regarding cancer screening or our products and services; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, licensing and supplier arrangements; our ability to maintain regulatory approvals and comply with applicable regulations; and the other risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Report(s) on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Contact:
Megan Reiss
Exact Sciences Corp.
meganreiss@exactsciences.com
608-535-8815

EXACT SCIENCES CORPORATION
Selected Unaudited Financial Information
Condensed Consolidated Statements of Operations
(Amounts in thousands, except per share data)
Three Months Ended
March 31,
2017 2016
  Laboratory service revenue $   48,363 $   14,835
48,363 14,835
  Cost of sales 16,981 9,059
  Gross margin 31,382 5,776
Operating Expenses:
  Research and development 8,002 10,126
  General and administrative 20,070 17,824
  Sales and marketing 38,801 25,711
    Total operating expenses 66,873 53,661
    Loss from operations (35,491) (47,885)
Investment income 595 466
Interest expense (50) (54)
    Net loss $  (34,946) $  (47,473)
Net loss per share – basic and diluted $     (0.32) $     (0.49)
Weighted average common shares
outstanding – basic and diluted 110,582 97,246

 

EXACT SCIENCES CORPORATION
Selected Unaudited Financial Information
Condensed Consolidated Balance Sheets
(Amounts in thousands)
March 31,   December 31, 
2017 2016
Assets
Cash and cash equivalents $     39,206 $      48,921
Marketable securities 235,464 262,179
Accounts receivable, net 16,214 8,526
Inventory, net 7,859 6,833
Prepaid expenses and other current assets 7,443 7,114
Property and equipment, net 38,395 38,142
Other long-term assets 5,680 5,325
Total assets $   350,261 $    377,040
Liabilities and stockholders’ equity 
Total current liabilities $     29,937 $      30,692
Long term debt 4,592 4,633
Long term other liabilities 5,680 5,734
Lease incentive obligation, less current portion 532 686
Total stockholders’ equity 309,520 335,295
Total liabilities and stockholders’ equity  $   350,261 $    377,040
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$MTBC Announces Signing of Two Key Healthcare Groups

New clients expected to generate more than $1 million in annual revenues

SOMERSET, NJ–(Apr 27, 2017) – MTBC (NASDAQ: MTBC) (NASDAQ: MTBCP), a leading provider of mHealth and cloud-based clinical and practice management solutions, announced the signing of two new clients yesterday who are expected to generate more than $1 million in combined, recurring, annual revenues, starting in third quarter 2017, marking a record day of new business signings for MTBC.

“We’re very pleased to welcome these new clients, who are regional leaders in their respective specialties of pain management and orthopedics,” said Karl Johnson, MTBC SVP, Sales and Marketing. He continued, “Yesterday was a record day of closings for us and we’ll continue expanding our reach into new markets as we enable healthcare providers to optimize revenues, while reducing operating costs.”

During fourth quarter 2016, MTBC closed its largest acquisition to-date and simultaneously launched a new organic growth initiative. As part of this initiative, MTBC hired experienced healthcare sales leaders, expanded its universe of cross-marketing partners, and is on track to attend more than 20 industry conferences during 2017.

“We’re excited to see MTBC’s new growth initiative begin to generate a strong return on our investment,” said Stephen Snyder, MTBC President. He continued, “We believe we’re positioned to achieve significant year-over-year revenue growth during 2017, while generating positive adjusted EBITDA for full year 2017.”

About MTBC
MTBC is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers throughout the United States. Our integrated Software-as-a-Service (SaaS) platform helps our customers increase revenues, streamline workflows and make better business and clinical decisions, while reducing administrative burdens and operating costs. MTBC’s common stock trades on the NASDAQ Capital Market under the ticker symbol “MTBC,” and its Series A Preferred Stock trades on the NASDAQ Capital Market under the ticker symbol “MTBCP.”

For additional information, please visit our website at www.mtbc.com.

Follow MTBC on Twitter, LinkedIn and Facebook.

Forward-Looking Statements
This press release contains various forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “goals”, “intend”, “likely”, “may”, “plan”, “potential”, “predict”, “project”, “will” or the negative of these terms or other similar terms and phrases.

Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, increased sales and marketing expenses, and the expected results from the integration of our acquisitions.

Forward-looking statements are only current predictions and are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from those anticipated by such statements. These factors include, but are not limited to, the company’s ability to manage growth; integrate acquisitions; effectively migrate and keep newly acquired customers and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in the forward-looking statements contained in this press release are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements.

The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE MTBC

Company and Investor Contact:
Bill Korn
Chief Financial Officer
Medical Transcription Billing, Corp.
bkorn@mtbc.com
732-873-5133

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$LLEX Announces Trading on NYSE MKT to Commence May 9, 2017

SAN ANTONIO, April 26, 2017  — Lilis Energy, Inc. (NASDAQ: LLEX), an exploration and development company operating in the Permian Basin of West Texas, today announced that its common stock has been approved for listing on the NYSE MKT. The Company’s common stock is expected to begin trading on NYSE MKT under its current symbol “LLEX,” beginning at the open of market trading on May 9, 2017. In connection with the listing of its common stock on the NYSE MKT, Lilis intends to terminate the listing of its common stock on NASDAQ. The Company intends to file with SEC a Form 25 related to the delisting from NASDAQ prior to or at the commencement of trading on the NYSE MKT, and the delisting will be effective ten days after the filing of the Form 25.

“Uplisting to the NYSE MKT follows our recent $140 million of financings and highlights the rapid progress our management team and Board have made in executing on the strategic vision laid out a year ago,” said Avi Mirman, Lilis’s Chief Executive Officer.

John Tuttle, Global Head of Listings at NYSE, commented: “We are delighted to welcome Lilis Energy, which is transferring to NYSE MKT and joining some of the world’s best listed energy companies. We look forward to providing Lilis with the unique benefits of our market model, unrivalled brand platform and exceptional market quality delivered by our NYSE MKT designated market makers.”

About Lilis Energy, Inc.

Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian’s Delaware Basin, considered amongst the leading resource plays in North America. Lilis’s total net acreage in the Permian Basin is over 10,000 acres. Lilis Energy’s near-term E&P focus is to grow current reserves and production, and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to our ability to replicate the results described in this release for future wells; the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company’s Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the “SEC”). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

Wednesday, April 26th, 2017 Uncategorized Comments Off on $LLEX Announces Trading on NYSE MKT to Commence May 9, 2017

$VOXX Receives Patent for Invention Predicting Timing for Quality Iris Images

Company’s 47th Patent Further Strengthens EyeLock’s Intellectual Property in the Mobile Space

NEW YORK, April 26, 2017 — EyeLock LLC, a leader of iris-based identity authentication solutions, today announced that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent No. 9,633,260 that uses conditions of the iris to predict a time sequence for acquiring a high probability of quality iris images. The invention then acquires a series of images during that window.

“Our latest patent – the company’s 47th – contributes to the performance and strength of EyeLock’s capabilities and intellectual property in the mobile space,” said Jim Demitrieus, CEO of EyeLock. “This patent complements EyeLock’s recently issued U.S. Patent No. 9,626,563.”

Mr. Demitrieus noted that this invention:

  • uses conditions about the iris (iris area exposed to a camera, sharpness of features) to predict an upcoming time window during which there is a high probability that good images can be acquired for biometric purposes;
  • performs opportunistic acquisition of a number of iris images during that time window, from which a limited number of images with higher quality scores are retained in memory for further processing;
  • does not require autofocus functions that often trail user movements and fail to achieve good image focus;
  • evaluates acquired images in real time to retain one or more images with better quality scores corresponding to the extent an imaged iris is exposed and in-focus;
  • supports mobile or other applications where biometric acquisition may coincide with eye-blinking or is susceptible to motion blur due to user movements at instant of acquisition; and
  • supports mobile or other applications where the device memory available for retaining images is often limited.

Further, he summarized EyeLock’s recent patents as follows:

April 4, 2017 – the USPTO granted U.S. Patent No. 9,613,281

  • The patent assures that iris biometrics are obtained in real time from the same live person as the facial image. The benefits are fraud deterrence and stronger authentication where both iris and facial images are used in multi-factor authentication.

April 18, 2017 – the USPTO granted U.S. Patent No. 9,626,563

  • The patent assures opportunistic acquisition of a number of iris images from which a limited number of images that each meets a quality threshold is stored or maintained for further processing. This patent supports mobile or other applications where biometric acquisition may coincide with eye-blinking or is susceptible to motion blur due to user movements and where device memory for holding images is often limited.

These patented solutions are the most recent examples of how EyeLock has achieved significant technological breakthroughs and solved integration challenges that have historically been a barrier to mass-market adoption of iris authentication technology. In addition, the Company’s approach provides maximum flexibility by offering designs that have either on-board or host-based processing and illumination. Algorithm performance capabilities for speed and accuracy have been validated by Novetta, a leader in advanced analytics technology and independent biometric testing, as unmatched in the market. The EyeLock reference designs have working distances of up to 60 cm with a false accept rate of 1 in 1.5 million for single eye authentication and a false reject rate of less than 1%.

About EyeLock

EyeLock LLC, a majority owned subsidiary of Voxx International Corporation (NASDAQ: VOXX), is an acknowledged leader in advanced iris authentication for the Internet of Things (IoT), providing the highest level of security with EyeLock ID™ technology. Iris authentication is highly secure because no two irises are alike and the iris is the most accurate human identifier other than DNA. The company’s significant IP portfolio, including more than 100 patents and patents pending, and proprietary technology enables the convenient and secure authentication of individuals across physical and logical environments. EyeLock’s solutions have been integrated and embedded across consumer and enterprise products and platforms, eliminating the need for PINs and passwords. Corporations across the Fortune 500 recognize the level of security EyeLock provides due in part to its extremely low false acceptance rate, ease of use, and scalability. As a sponsor member of the FIDO (Fast IDentity Online) Alliance, a non-profit organization dedicated to creating a safer and more secure digital presence for consumers, EyeLock is dedicated to advancing digital privacy and next generation security. For more information, please visit www.eyelock.com.

CONTACT:
Brian Levine
Game 7 Comms
561-866-9291
brian@game7comms.com

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$FNJN Announces Go-to-Market Technology Partnership with Avira

Parties Sign Cross-License to Each Other’s Patents

EAST PALO ALTO, CA–(Apr 26, 2017) – Finjan Holdings, Inc. (NASDAQ: FNJN), a cybersecurity company, today announced that its subsidiary Finjan Mobile, Inc. (Finjan Mobile) has entered into a partnership agreement with Avira, Inc. Avira will provide its Virtual Private Network (VPN) Platform for distribution and sale by Finjan Mobile as part of its VitalSecurity™ suite of product offerings. The companies also entered into a confidential cross-license under their respective patents.

“Finjan Mobile’s industry-leading VitalSecurity Browser has proven to be a sought-after application among mobile users with over 150,000 downloads in less than five months,” said Phil Hartstein, President and CEO of Finjan Holdings and Finjan Mobile. “As we work to build upon our suite of secured products, the partnership with Avira will allow us to reach a much broader customer base across multiple platforms. We are committed to offering a best-in-class suite of secure mobile applications and a robust foundation for the security and privacy of each user.”

ABOUT FINJAN
Established nearly 20 years ago, Finjan is a globally recognized leader in cybersecurity. Finjan’s inventions are embedded within a strong portfolio of patents focusing on software and hardware technologies capable of proactively detecting previously unknown and emerging threats on a real-time, behavior-based basis. Finjan continues to grow through investments in innovation, strategic acquisitions, and partnerships promoting economic advancement and job creation. For more information, please visit www.finjan.com.

Finjan® is the registered trademark of Finjan Holdings, Inc.
Finjan Mobile and VitalSecurity are the trademarks of Finjan Mobile, Inc.

All Finjan regulatory filings are available on the Securities and Exchange Commission’s (SEC) website www.sec.gov, and can also be found at ir.finjan.com/all-sec-filings.

Follow Finjan Holdings, Inc.:
Twitter: @FinjanHoldings
LinkedIn: linkedin.com/company/finjan
Facebook: facebook.com/finjanholdings

Cautionary Note Regarding Forward-Looking Statements
Except for historical information, the matters set forth herein that are forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, Finjan’s expectations and beliefs regarding Finjan’s licensing program, the outcome of pending or future enforcement actions, the granting of Inter Partes Review (IPR) of our patents or an unfavorable determination pursuant to an IPR or other challenges at the USPTO of our patents, the enforceability of our patents, the cost of litigation, the unpredictability of our cash flows, our ability to expand our technology and patent portfolio, the continued use of our technologies in the market, our stock price, changes in the trading market for our securities, regulatory developments, general economic and market conditions, the market acceptance and successful business, technical and economic implementation of Finjan Holdings’ intended operational plan; and the other risk factors set forth from time to time in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2016, and the Company’s periodic filings with the SEC, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from Finjan Holdings, Inc. All forward-looking statements herein reflect our opinions only as of the date of this release. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Finjan Holdings undertakes no obligation, and expressly disclaims any obligation, to update forward-looking statements herein in light of new information or future events.

Investor Contact:
Vanessa Winter | Finjan
Valter Pinto | KCSA Strategic Communications
(650) 282-3245
investors@finjan.com

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$AMMA Management Agency Signs New Mixed Martial Arts Prospects

SuckerPunch Entertainment Looks Forward to Solid 2nd Quarter of Fight Action!

Alliance MMA, Inc. (“Alliance MMA” or the “Company”) (NASDAQ:AMMA), a professional mixed martial arts (MMA) company that brings together leading regional productions to build the next generation of MMA champions, announced today signings of several fighters by the SuckerPunch Entertainment management agency.

Three of the most notable prospects to join the SuckerPunch roster are Jason Soares (10-0), Manny Vazquez (11-2), and Karl Roberson (3-0). SuckerPunch Entertainment, which was acquired by Alliance MMA this past January, is an established brand with a decade’s experience in the MMA space and is home to almost 100 athletes.

“SuckerPunch continues to build a diverse roster bolstered by some of the most exceptional prospects in all of regional MMA,” said Alliance MMA President Robert Haydak. “Jason Soares, Manny Vazquez, and Karl Roberson are all excellent talents and Alliance MMA eagerly awaits their next bouts under the SuckerPunch Entertainment brand.”

Jason “The Specimen” Soares (27) is the undisputed featherweight champion of Fight Time Promotions. Fighting out of Key Largo, Florida, by way of New York City, Soares is a submission specialist winning seven of his ten pro bouts that way. He is a representative of Freestyle Fighting Academy and is scheduled to face Rafael Alves in a non-title match at Fight Time 37 on June 16th.

Manny Vazquez (23) is a special athlete that has made the walk to the cage a total of 14 times in under four years. Fighting out of Elmwood Park, Illinois, Vazquez is a veteran of several promotions including King Of The Cage, Legacy FC, and most recently Bellator MMA. Vazquez won his national promotion debut on March 31st at Bellator 175 where he defeated a highly-experienced Nate Williams via unanimous decision.

Karl Roberson (26) is a fast-rising middleweight and member of the Killer B Combat Sports Academy in Monmouth, New Jersey. Roberson is a GLORY kickboxing veteran that has cross-competed in kickboxing and MMA since 2013. Undefeated at 3-0 in MMA, Roberson has terrific stand-up skills and a blossoming ground game. His most recent victory came at Shogun Fights 16 on April 8th, where he defeated Elijah Gbollie via TKO.

“We are elated about bringing in Jason, Manny, and Karl,” said SuckerPunch Entertainment Managing Director Bryan Hamper. “Jason has showed he is getting ready to take the next step in his career, and we hope to guide him through that process. Manny Vazquez is a terrific young fighter with tons of experience at just 23 years of age. He has worked his way up the ladder and now he’s on the big stage. Karl Roberson is an immensely talented individual whose kickboxing gets fans out of their seats, and strikes fear in his opponent’s hearts. Both Jason and Karl are in a position to put themselves on a short list of fighters that could get the call up to a larger promotion following their next wins.”

“Jason, Manny, and Karl are three great examples of what kind of athletes SuckerPunch Entertainment aims to do business with,” said SuckerPunch Managing Director Brian Butler. “They, along with the rest of our first quarter signings, have exhibited their skills inside the cage, and proven to be quality individuals with plenty of promise going forward. I know I speak for everyone at SuckerPunch Entertainment when I say we are very pleased with how the first quarter of 2017 has gone.”

The following fighters have signed with SuckerPunch Entertainment in the first quarter of this year:

FLYWEIGHT:
Manny Vazquez (11-2)

FEATHERWEIGHT:
Bobby Butler (2-0)
Skyler Frazier (4-1)
Roman Salazar (10-5)
Jason Soares (10-0)

WELTERWEIGHT:
Maik Ferrante (3-1)
Herman Terrado (14-3)
Cole Williams (9-1)

MIDDLEWEIGHT:
Karl Roberson (3-0)
Punahele Soriano (1-0)

HEAVYWEIGHT:
Daniel James (6-2)

The current list of upcoming matchups for SuckerPunch fighters over the next three months is shown below. These fights and events and the fighters participating in them are subject to change without notice.

Name Weight Organization Opponent
5/5/2017 Arnold Berdon 135 Victory Johnnie Roades
5/5/2017 Daniel James 265 Victory Daniel Galemore
5/10/2017 Cheyden Leialoha 135 AlaskaFC Josh Branham
5/19/2017 Kurt Holobaugh 155 Titan JZ Cavacante
5/19/2017 Gleidson Dejesus 135 Titan Edir Terry
5/19/2017 Dan Ige 145 Titan Edwin Valenzuela
5/20/2017 Mike Pope 155 CFFC Joe Lowry
5/20/2017 Karl Roberson 195 CFFC Derrick Brown
5/20/2017 Chris Birchler 265 CFFC TBD
6/3/2017 Max Holloway 145 UFC Jose Aldo
6/3/2017 Oluwale Bamgbose 185 UFC Paulo Borrachinha
6/16/2017 Jason Soares 145 Fight Time Rafael Alves
6/16/2017 Andrew Whitney 145 Fight Time Matt McCook
6/24/2017 Douglas Lima 170 Bellator Lorenz Larkin
6/24/2017 Brian Foster 170 WSOF John Fitch
6/24/2017 Herman Terrado 170 WSOF Joao Zeferino
6/25/2017 Felice Herrig 115 UFC Justine Kish
6/25/2017 Carla Esparza 115 UFC Maryna Moroz
7/7/2017 Angela Hill 115 UFC Ashley Yoder

About Alliance MMA, Inc.

Alliance MMA (NASDAQ:AMMA) is a professional mixed martial arts company that brings together the best regional productions. Alliance MMA’s mission is to identify and cultivate the next generation of fighters and champions for the Ultimate Fighting Championship (UFC) and other premier MMA promotions.

With some of the world’s leading MMA promotions under the Alliance MMA umbrella, the organization aims eventually to host in excess of 125 events per year, showcasing more than 1,000 fighters. Alliance MMA is also dedicated to generating live original sports media content, attracting an international fan base, and securing major brand sponsorship revenue for live MMA events, digital media, and Alliance MMA fighters.

MMA is the world’s fastest growing sport with worldwide fans of approximately 300 million according to sports marketing research firm Repucom. MMA is a full contact sport that allows a wide range of fighting techniques, including striking and grappling from various martial arts and disciplines including Boxing, Wrestling, Brazilian Jiu Jitsu, Karate and Muay Thai. Professional MMA fights are legal and regulated by state athletic commissions in all 50 states.

Alliance MMA, Inc. was incorporated in 2015 for the purpose of acquiring businesses that engage in the promotion of mixed martial arts (MMA) events. In 2016, the company completed an initial public offering that culminated in a listing on the NASDAQ stock exchange. Alliance MMA is the only mixed martial arts promotion company that is publicly-traded.

For more information visit, www.alliancemma.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, those discussed under the heading “Risk Factors” in our registration statement on Form S-1 (Registration No. 333-213166) declared effective by the Securities and Exchange Commission on September 2, 2016. Alliance MMA encourages you to review other factors that may affect its future results in Alliance MMA’s registration statement and in its other filings with the Securities and Exchange Commission.

 

Alliance MMA, Inc.
James Platek, 212-739-7825, x707
Director, Investor Relations
or
Rubenstein Public Relations
Kristie Galvani, 212-805-3005
kgalvani@rubensteinpr.com

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$FLKS FDA Clears Flex Pharma’s FLX-787 to Commence US Phase 2 Trial in ALS Under IND

Flex Pharma, Inc. (NASDAQ: FLKS), focused on developing treatments for cramps and spasms associated with the severe neurological diseases of amyotrophic lateral sclerosis (ALS), multiple sclerosis (MS) and peripheral neuropathies such as Charcot-Marie-Tooth (CMT), today announced that the Company’s investigational new drug (IND) application for FLX-787 for patients with ALS is effective which allows the Company to commence its U.S. Phase 2 clinical trial of FLX-787 in ALS patients who suffer from cramps as a consequence of the disease. The Company expects to begin enrolling US patients this summer in this randomized, controlled, double-blinded, parallel design study, referred to as the COMMEND trial. In addition, the Company has exploratory Phase 2 studies currently ongoing in patients with MS and ALS in Australia. FLX-787 is a small molecule co-activator of the TRPA1 and TRPV1 ion channels, and has been shown to prevent and reduce the frequency and intensity of muscle cramps in a human model of electrically induced cramps.

“This open IND for FLX-787 allows us to initiate this Phase 2 multi-center trial, representing an important milestone for Flex Pharma and starts the process of investigating other orphan indications in neurology where cramps, spasms and spasticity impact patients every day,” said Flex Pharma Chief Medical Officer Thomas Wessel, M.D., Ph.D. “Based upon encouraging results in prior randomized, controlled studies of FLX-787 in models of muscle cramping in healthy volunteers, we are excited to advance FLX-787 into this Phase 2 clinical trial for ALS this summer.”

“Muscle cramps can have a severe impact on functional performance and quality of life for patients with motor neuron diseases like ALS,” indicated lead investigator Dr. Björn Oskarsson of the Mayo Clinic in Jacksonville, Florida. “Neurologists are often confronted with a situation where the patient experiences symptoms, and current treatments are either ineffective or have limiting potential side effects. Flex Pharma’s FLX-787 may provide a better approach to this challenging problem.”

“Very shortly, we also plan to submit a protocol to the IND for a clinical trial of FLX-787 to treat patients with CMT, which would enable us to begin another Phase 2 this summer, making FLX-787 one of the most advanced novel compounds in development for CMT,” said Flex Pharma R&D President Bill McVicar, Ph.D. “Together with our ongoing exploratory Phase 2 studies in MS and ALS in Australia, we are focused on the execution of these studies and expect to have several data readouts in 2018.”

COMMEND Trial Design

This Phase 2 clinical trial is designed to evaluate FLX-787 in patients with motor neuron disease (MND), focused on ALS, who suffer from cramps. This randomized, controlled, double-blinded, parallel design trial in the US will include a run-in period to establish a baseline in cramp frequency. Patients will then be randomized to 30 mg of FLX-787 administered three times a day or control, for 28 days. Patients will be evaluated for changes in cramp frequency as the primary endpoint, with a number of secondary endpoints.

About Flex Pharma

Flex Pharma, Inc. is a biotechnology company that is developing innovative and proprietary treatments for cramps and spasms associated with the severe neurological diseases of ALS, MS and peripheral neuropathies such as Charcot-Marie-Tooth (CMT). Flex Pharma was founded by National Academy of Science members Rod MacKinnon, M.D. (2003 Nobel Laureate), and Bruce Bean, Ph.D., recognized leaders in the fields of ion channels and neurobiology, along with Chair and CEO Christoph Westphal, M.D., Ph.D.

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our expectations regarding current and future clinical trials of our product candidates, including the success and timing of these studies and our beliefs regarding the potential benefits of our current product candidates. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation: the status, timing, costs, results and interpretations inherent in conducting clinical trials; the fact that we rely on third parties to manufacture and conduct the clinical trials, which could delay or limit future development or regulatory approval; results from ongoing and planned preclinical development; expectations of our ability to make regulatory filings and obtain and maintain regulatory approvals; results of early clinical studies as indicative of results of future trials; the inherent uncertainties associated with intellectual property; and other factors discussed in greater detail under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2016 and subsequent filings with the Securities and Exchange Commission (SEC). You are encouraged to read Flex Pharma’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

 

Flex Pharma, Inc.
Elizabeth Woo, 617-874-1829
SVP, Investor Relations & Corporate Communications
irdept@flex-pharma.com

Wednesday, April 26th, 2017 Uncategorized Comments Off on $FLKS FDA Clears Flex Pharma’s FLX-787 to Commence US Phase 2 Trial in ALS Under IND

$SAJA Enters into Merger Agreement to be Acquired by AMPLEXOR International

Shareholders to Receive $5.83 in Cash per Share; Transaction Valued at Approximately $28.5 Million

RIVER FALLS, Wis. and BERTRANGE, Luxembourg, April 26, 2017 — Sajan Inc. (Nasdaq:SAJA) and AMPLEXOR International SA, today announced that a definitive merger agreement has been signed, whereby Sajan will be acquired by a wholly-owned subsidiary of AMPLEXOR International. Under the terms of the merger agreement, Sajan shareholders will receive $5.83 per share in cash for each share of Sajan common stock, representing a 46 percent premium over Sajan’s closing price as of April 25, 2017.

“We are pleased to announce this agreement,” said Shannon Zimmerman, Chairman and CEO of Sajan. “The acquisition has been strategically conceived and results in a uniquely robust global content solution provider with a broad breadth of capabilities far beyond traditional language translation only.” Zimmerman continued, “This union immediately creates a strong global provider that possesses a variety of technologies, global content solutions and customer support in numerous countries and a well-aligned culture of innovation shared between the two organizations. Our Board of Directors believes this transaction is in the best interest of our shareholders and affirms Sajan’s value as a leading provider of Language Translation Services. AMPLEXOR was looking for a strong partner in the United States to complement their global organization and found that in Sajan.”

“As we sought to strengthen our U.S. presence and grow our Language Services offering and competencies, Sajan proved to be a perfect fit. Sajan’s technology skills, delivery capacity and geographic reach are fully complementary to AMPLEXOR’s,” explained Mark Evenepoel, CEO of AMPLEXOR.

Sajan’s committee of independent directors and its Board of Directors have unanimously approved the merger agreement and agreed to recommend that shareholders adopt the agreement and approve the merger.

Closing of the transaction is subject to customary closing conditions, including, among others, the affirmative vote in favor of the transaction by holders of a majority of Sajan’s outstanding common stock. It is anticipated that the special meeting of Sajan’s shareholders to vote on the transaction will be held in July 2017 and, if the transaction is approved, the merger would be expected to close shortly thereafter.

Dougherty & Company, LLC is acting as exclusive financial advisor to Sajan and provided a fairness opinion to the special committee of the Board of Directors of Sajan. Fredrikson & Byron, P.A. is acting as legal advisor for Sajan and Quarles & Brady LLP is acting as legal advisor to AMPLEXOR.

Additional Information about the Proposed Transaction and Where to Find It
In connection with the transaction, Sajan expects to file with the Securities Exchange Commission (the “SEC”), and mail to shareholders, a proxy statement on Schedule 14A inviting shareholders to a special meeting to, among other things, consider and vote on a proposal to adopt the merger agreement and approve the merger. Shareholders are urged to carefully read these materials (and any amendments or supplements) and any other relevant documents that Sajan files with the SEC when they become available because they will contain important information. These materials will be made available free of charge on Sajan’s website at www.sajan.com/company/investor-relations/ when available. In addition, all of these materials (and all other materials filed by Sajan with the SEC) will be available at no charge from the SEC through its website at www.sec.gov. Shareholders may also obtain free copies of the documents filed by Sajan with the SEC by contacting Sajan’s Corporate Secretary, Thomas P. Skiba, by mail at Sajan, Inc., 625 Whitetail Boulevard, River Falls, Wisconsin 54022 or by phone at (715) 426-9505.

This press release is neither a solicitation of a proxy, an offer to purchase nor a solicitation of an offer to sell shares of Sajan. Sajan and its directors, executive officers and certain other members of management and employees may be deemed participants in soliciting proxies from its shareholders in connection with the proposed merger. Information regarding Sajan’s directors and executive officers is set forth in Sajan’s proxy statement on Schedule 14A filed with the SEC on April 27, 2016. Information regarding other persons, who may, under the rules of the SEC, be considered participants in the solicitation of Sajan’s shareholders in connection with the proposed merger will be set forth in the proxy statement for Sajan’s special meeting of shareholders. Additional information regarding these individuals and Sajan’s directors and officers and any direct or indirect interests they may have in the proposed merger will be set forth in the definitive proxy statement when and if it is filed with the SEC in connection with the proposed merger.

Cautionary Statement Regarding Forward-Looking Statements
This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the proposed transaction with AMPLEXOR. The timing of the closing of the transaction, the expected impact of the transaction on Sajan’s business, and Sajan’s plans with regard to the proxy statement. Sajan intends such forward-looking statements to be covered by the Safe Harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of complying with these Safe Harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of Sajan, may be identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “project,” or similar expressions. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from such forward-looking statements. Certain factors which could cause actual results to differ materially from the forward-looking statements include, but are not limited to, general economic conditions; uncertainties as to the timing of the merger; uncertainties as to whether AMPLEXOR will be able to consummate the merger; uncertainties as to whether Sajan’s shareholders will provide the requisite approval for the merger; the possibility that competing offers will be made; the possibility that certain conditions to the consummation of the merger will not be satisfied; the possibility that Sajan’s shareholders will file lawsuits challenging the merger; the diversion of Sajan’s management time and attention to issues relating to the merger; operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or business partners) occurring prior to completion of the merger or if the merger is not completed; the difficulty retaining certain key employees of Sajan as a result of the announcement of the merger; the possibility that costs, fees, expenses or charges Sajan incurs in connection with the merger are greater than expected; the possibility that the merger agreement may be terminated in circumstances that require Sajan to pay a termination fee to AMPLEXOR related to the merger; and changes in the economic and financial conditions of the businesses of Sajan and AMPLEXOR; and those risks and uncertainties discussed in Sajan’s Annual Report on Form 10-K for the year ended December 31, 2016 and under the heading “Risk Factors,” as updated from time to time by Sajan’s Quarterly Reports on Form 10-Q and other documents subsequently filed with the SEC. Except as may be expressly required by law, Sajan undertakes no obligation to update any forward-looking statements, which speak only as of the date of this release. All forward-looking statements in this release are qualified in their entirety by this cautionary statement.

About Sajan
Sajan is a leading provider of global language translation and localization services, helping clients around the world expand seamlessly into any global market. The foundation of Sajan’s solution is its industry-leading language translation management system technology, Sajan Transplicity, which provides process automation and innovative multilingual content reuse to ensure schedule predictability, higher quality and cost efficiencies for its clients. By working closely with its clients, Sajan’s experienced team of localization professionals develops tailored solutions that lend flexibility to any large or small business that truly desires to “think globally but act locally.” Based in the United States, Sajan also has offices in Ireland, Spain and Singapore. Visit Sajan online at www.sajan.com.

About AMPLEXOR
AMPLEXOR International, headquartered in Luxembourg, is a leading digital solution provider offering global compliance, digital experience and content solutions. Continuously growing since its foundation in 1987 and today with a presence in over 23 countries, AMPLEXOR helps customers across key industries, such as Life Sciences, Manufacturing, Energy & Environment, the Public Sector and Defense, Aerospace & Transport achieve process efficiency, increase revenue generation, reduce time-to-market and ensure quality and compliance. AMPLEXOR’s turnkey solutions support core industry processes, and include software technology, consulting, system integration, and language and content management services. For more information, visit www.AMPLEXOR.com.

 

Contact:
Gretchen VanDusartz
Digital Communications Specialist
email: gvandusartz@sajan.com
phone: 715-426-9505
Wednesday, April 26th, 2017 Uncategorized Comments Off on $SAJA Enters into Merger Agreement to be Acquired by AMPLEXOR International

$NIHD Announces Change To Nextel Brazil Management Team

RESTON, Va., April 25, 2017 — NII Holdings, Inc. [NASDAQ: NIHD] (the “Company”), today announced that Roberto Rittes has been appointed as Nextel Brazil’s new CEO. Mr. Rittes, 43, brings over a decade of senior level experience, having served as a key officer for Brazilian telecom companies Brasil Telecom and Oi Paggo. Most recently, Mr. Rittes was a principal at H.I.G. Capital, a leading global private equity investment firm, from 2016 to 2017. Mr. Rittes holds an M.B.A. from Harvard Business School and an undergraduate degree in business from Fundação Getúlio Vargas (EAESP-FGV).

“We are excited to have Roberto join us in leading our focus on growing our 3G and LTE business by attracting and retaining customers who value the high quality wireless services we offer,” said Steve Shindler, the Company’s Chief Executive Officer.

The Company also announced that Francisco Valim has stepped down as President of Nextel Brazil.  “I want to thank Francisco for the tremendous efforts in leading the turnaround of our business in Brazil. His expertise in transforming companies and managing organizational change resulted in a significant improvement in our operations, leaving solid foundations on which to keep building,” said Mr. Shindler.

Mr. Shindler has agreed to remain in his position as NII’s CEO to assist Mr. Rittes as he transitions into his role.

About NII Holdings, Inc.

NII Holdings, Inc., a publicly held company based in Reston, Virginia, is a provider of differentiated mobile communication services for businesses and high value consumers in Brazil. NII Holdings, operating under the Nextel brand, offers fully integrated wireless communication tools with digital cellular voice services, data services and wireless Internet access. Visit the Company’s website at www.nii.com.

Nextel, the Nextel logo and Nextel Direct Connect are trademarks and/or service marks of Nextel Communications, Inc.

Visit NII Holdings’ news room for news and to access our markets’ news centers: nii.com/newsroom.

Tuesday, April 25th, 2017 Uncategorized Comments Off on $NIHD Announces Change To Nextel Brazil Management Team

$STRP Board Notes $104.64 Per Share Unsolicited Offer Constitutes “Superior Proposal”

Straight Path Communications Inc. (“Straight Path”) (NYSE MKT: STRP) announced today that the Straight Path Board of Directors (the “Straight Path Board”) determined that an unsolicited offer from a multi-national telecommunications company (the “Bidder”) to acquire 100% of the issued and outstanding shares of Straight Path for $104.64 per share (reflecting an enterprise value of $1.8 billion), which will be paid in Bidder stock in an all-stock transaction constitutes a “Superior Proposal” as defined in Straight Path’s previously announced definitive agreement and plan of merger with AT&T Inc. (“AT&T”) (NYSE MKT: T) and Switchback Merger Sub Inc., dated as of April 9, 2017 (the “AT&T Merger Agreement”). Under the terms of the AT&T Merger Agreement, AT&T agreed to acquire Straight Path in an all-stock transaction in which Straight Path stockholders would receive $95.63 per share (reflecting an enterprise value of $1.6 billion), which would be paid using AT&T stock.

Straight Path has notified AT&T of the Straight Path Board’s determination and, pursuant to the AT&T Merger Agreement, AT&T has the option for the next five (5) business days (the “Negotiation Period”) to negotiate a possible amendment of that agreement to match or exceed the Bidder’s offer. Straight Path is required, and intends to, negotiate in good faith with AT&T during the Negotiation Period. Straight Path is not permitted to enter into the Bidder’s merger agreement or to change its recommendation in favor of the AT&T transaction unless, at the end of the Negotiation Period, the Straight Path Board determines that the Bidder’s offer continues to constitute a “Superior Proposal” and satisfies certain other requirements under the AT&T Merger Agreement. The Bidder has stated that its offer will remain outstanding until 11:59 p.m. New York City time on May 3, 2017.

Under the AT&T Merger Agreement, Straight Path is required to pay a $38 million termination fee to AT&T if the Straight Path Board terminates the AT&T Merger Agreement in order to enter into an agreement with the Bidder. The Bidder has agreed to pay the termination fee to AT&T on Straight Path’s behalf in such event. Straight Path would be required to repay the Bidder for the AT&T termination fee under certain circumstances in connection with a termination of the Bidder’s merger agreement.

At this time, Straight Path remains subject to the AT&T Merger Agreement and the Straight Path Board has not changed its recommendation in support of the AT&T transaction, the existing AT&T Merger Agreement, or its recommendation that Straight Path’s stockholders adopt the AT&T Merger Agreement. There can be no assurances that a transaction with the Bidder will result from the Bidder’s offer, or that any other transaction will be consummated. There can be no assurance that AT&T will seek to negotiate with Straight Path or will make a revised offer.

About Straight Path Communications Inc.

Straight Path (NYSE MKT: STRP) holds an extensive portfolio of 39 GHz and 28 GHz wireless spectrum licenses. Straight Path is developing next generation wireless technology through its Straight Path Ventures subsidiary. Straight Path holds licenses and conducts other business related to certain patents through its Straight Path IP Group subsidiary. Additional information is available on Straight Path’s websites.

Corporate: www.straightpath.com.

Spectrum: www.straightpath39.com.

IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC

Straight Path plans to file with the SEC and mail to its stockholders a Proxy Statement/Prospectus in connection with the proposed transaction. THE PROXY STATEMENT/PROSPECTUS WILL CONTAIN IMPORTANT INFORMATION ABOUT AT&T, STRAIGHT PATH, THE PROPOSED TRANSACTION AND RELATED MATTERS. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS CAREFULLY WHEN THEY BECOME AVAILABLE. Investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus and the other documents filed with the SEC by Straight Path through the web site maintained by the SEC at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus by phone, e-mail or written request by contacting the investor relations department of Straight Path at the following:

Straight Path Communications Inc.
Address: 5300 Hickory Park Dr., Suite 218
Glen Allen, VA 23059
Attention: Investor Relations
Phone: 804-433-1523
E-mail: yonatan.cantor@straightpath.com

PARTICIPANTS IN THE SOLICITATION

Straight Path and its directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transactions contemplated by the AT&T Merger Agreement. Information regarding Straight Path’s directors and executive officers is contained in Straight Path’s Form 10-K for the year ended July 31, 2016 and its proxy statement dated November 22, 2016, which are filed with the SEC. A more complete description will be available in the Proxy Statement/Prospectus.

Safe Harbor

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our Annual Report on Form 10-K for the fiscal year ended July 31, 2016 and our other periodic filings with the SEC (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”). We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

No Offer or Solicitation

This document does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering 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.

 

Straight Path
Yonatan Cantor, 804-433-1523
yonatan.cantor@straightpath.com

Tuesday, April 25th, 2017 Uncategorized Comments Off on $STRP Board Notes $104.64 Per Share Unsolicited Offer Constitutes “Superior Proposal”

$EPZM Announces Tazemetostat Fast Track Designation for Follicular Lymphoma

Interim Efficacy and Safety Data from Ongoing Phase 2 Study in Follicular Lymphoma and DLBCL Selected for Plenary Presentation at the International Conference on Malignant Lymphoma

Management to Host Conference Call on June 14 at 10:30 a.m. ET

CAMBRIDGE, Mass., April 25, 2017  — Epizyme, Inc. (NASDAQ:EPZM), a clinical-stage biopharmaceutical company creating novel epigenetic therapies, today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to tazemetostat, the Company’s first-in-class EZH2 inhibitor, for the treatment of patients with relapsed or refractory follicular lymphoma, either wild type EZH2 or with EZH2 activating mutations. Fast Track designation is intended to provide expedited processes for the development and FDA review of drugs that may reduce development time and costs associated with bringing a drug to market.

Epizyme also announced that interim efficacy and safety data from all five study cohorts in its ongoing Phase 2 study of tazemetostat in patients with relapsed or refractory follicular lymphoma and diffuse large B-cell lymphoma (DLBCL) has been selected for a plenary session on Wednesday, June 14, 2017 at 2:00 p.m. CET at the International Conference on Malignant Lymphoma (ICML) in Lugano, Switzerland. In addition, results from a biomarker study of tazemetostat in patients with NHL will be presented in a poster session during ICML. The Company plans to hold a conference call to discuss these clinical findings on Wednesday, June 14 at 10:30 a.m. ET.

“This is an important milestone for our NHL program, with tazemetostat now having FDA Fast Track designation for relapsed or refractory diffuse large B-cell lymphoma with EZH2 activating mutations and for relapsed or refractory follicular lymphoma, regardless of EZH2 mutation,” said Robert Bazemore, president and chief executive officer, Epizyme. “In addition to this regulatory recognition of tazemetostat’s therapeutic potential, the selection of interim Phase 2 data for the opening plenary session underscores the lymphoma community’s enthusiasm for our lead product candidate. Our development goal is to bring tazemetostat to patients as quickly as possible and we look forward to advancing this study throughout 2017.”

The FDA Fast Track program is designed to facilitate the development of important new drugs and to provide patients access to those drugs more quickly. The designation enables early and frequent communication between FDA and a product sponsor throughout the drug development and review process. Through the Fast Track program, a product may be eligible for priority review at the time of a new drug application (NDA) filing and may also be eligible to submit completed sections of the NDA on a rolling basis before the complete application is submitted.

About the Tazemetostat Clinical Trial Program
Tazemetostat, a first-in-class EZH2 inhibitor, is currently being studied in ongoing Phase 2 programs in both follicular lymphoma and diffuse large B-cell lymphoma (DLBCL) forms of non-Hodgkin lymphoma; certain genetically defined solid tumors, including INI1-negative and SMARCA4-negative tumors and synovial sarcoma; and mesothelioma, as well as in combination studies in DLBCL. Tazemetostat has been granted Fast Track designation by the U.S. Food and Drug Administration for both relapsed/refractory follicular lymphoma with or without an EZH2 activating mutation and DLBCL with EZH2 activating mutations, as well as Orphan Drug designation for malignant rhabdoid tumors.

About Epizyme, Inc.
Epizyme, Inc. is a clinical-stage biopharmaceutical company committed to rewriting cancer treatment through novel epigenetic medicines. Epizyme is broadly developing its lead product candidate, tazemetostat, a first-in-class EZH2 inhibitor, with studies underway in both solid tumors and hematological malignancies, as a monotherapy and combination therapy and in relapsed and front-line disease. Using the Company’s proprietary platform, Epizyme has pioneered the identification and development of small molecule inhibitors of chromatin modifying proteins (CMPs), such as tazemetostat. CMPs are part of the system of gene regulation, referred to as epigenetics, that controls gene expression. Genetic alterations can result in changes to the activity of CMPs, which can allow cancer cells to grow and proliferate. By focusing on the genetic drivers of cancers, Epizyme’s science seeks to match targeted medicines with the specific patients that need it. For more information, visit www.epizyme.com and connect with us on Twitter at @EpizymeRx.

Cautionary Note on Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for Epizyme, Inc. and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” 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: uncertainties inherent in the initiation of future clinical studies and in the availability and timing of data from ongoing clinical studies; whether results from preclinical studies or earlier clinical studies will be predictive of the results of future trials; whether results from clinical studies will warrant meetings with regulatory authorities or submissions for regulatory approval; expectations for regulatory approvals to conduct trials or to market products; whether the Company’s cash resources will be sufficient to fund the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements; other matters that could affect the availability or commercial potential of the Company’s therapeutic candidates; and other factors discussed in the “Risk Factors” section of the Company’s most recent Form 10-K filed with the SEC and in the Company’s other filings from time to time with the SEC. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date hereof and should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.

Contacts:
Cheya Pope, Epizyme, Inc.
media@epizyme.com
617-229-7561

Monique Allaire, THRUST IR
monique@thrustir.com 
(617) 895-9511
Tuesday, April 25th, 2017 Uncategorized Comments Off on $EPZM Announces Tazemetostat Fast Track Designation for Follicular Lymphoma

$AKBA and Otsuka Expand Relationship on Vadadustat for Europe, China, &c.

Maximizes Efficiency of Global Development and Commercialization

Committed Capital and Potential Milestone Payments from Otsuka of up to $865 Million, Including $208 million or More in Upfront Payment and Development Funding, as well as Tiered, Double-Digit Royalties

Total Committed Development Funding from all of Akebia’s Vadadustat Collaborations Plus Cash Exceeds $600 Million

Akebia to Host Conference Call at 4:30 p.m. Eastern Time Today

Akebia Therapeutics, Inc. (NASDAQ:AKBA) and Otsuka Pharmaceutical Co., Ltd. today announced that they have expanded their collaboration for vadadustat by entering into a collaboration and license agreement for Europe, China and other territories. Vadadustat is an oral hypoxia-inducible factor (HIF) stabilizer currently in Phase 3 development for the treatment of anemia associated with chronic kidney disease (CKD). Anemia related to CKD arises from the kidney’s failure to produce adequate amounts of erythropoietin, a key hormone stimulating the production of red blood cells.1 Left untreated, anemia significantly accelerates patients’ overall deterioration of health with increased morbidity and mortality.2, 3

This agreement follows a previously announced collaboration between the companies in which they equally share the costs of developing and commercializing vadadustat in the United States, as well as the profits from potential future sales of vadadustat in the $3.5 billion renal anemia market. The total committed development funding from all vadadustat collaborations, combined with Akebia’s cash, is expected to exceed $600 million.

Under the terms of this collaboration agreement, Akebia will receive $208 million or more in committed capital from Otsuka, including $73 million upon signing and $135 million or more of development funding. In addition, Akebia is eligible to receive up to $657 million in milestone payments, representing a total transaction value of approximately $865 million. Otsuka will also make tiered, double-digit royalty payments of up to 30% on net sales of vadadustat in Otsuka’s territory, which includes Europe, Russia, China, Canada, Australia and the Middle East, but excludes Latin America and other previously licensed countries. In the five major markets in Europe, sales of erythropoiesis stimulating agents (ESAs), the current standard of care for the treatment of renal anemia, were approximately $1.5 billion.4

Mr. Tatsuo Higuchi, president and representative director of Otsuka Pharmaceutical Co., Ltd., commented, “Thanks to Akebia’s expertise in developing vadadustat, we anticipate that it holds significant promise for renal anemia. We are also convinced that by strengthening our cardio-renal portfolio with a drug candidate like this, following our own tolvaptan, we can contribute to changing the standard of care worldwide for patients with complex kidney diseases.”

“We are very pleased to expand our strategic relationship with Otsuka, a company who shares our vision to improve the lives of patients with kidney disease,” stated John P. Butler, President and Chief Executive Officer of Akebia. “We now have a single, strong collaborator for the two largest markets, the U.S. and Europe. This simplifies governance and decision making, maximizing the efficiency of our global Phase 3 development program and ultimately the commercialization of vadadustat. We are able to accomplish this while obtaining substantial funding for our vadadustat development program and retaining significant long-term value for Akebia.”

Akebia has established three significant collaborations for vadadustat in a little over a year, which together total more than $2.2 billion in potential value and include $573 million or more in upfront payments and committed development funding. In addition to this agreement and the U.S. collaboration with Otsuka, Akebia has established a collaboration with Mitsubishi Tanabe Pharma Corporation for the development and commercialization of vadadustat in Japan, Taiwan, South Korea, Indonesia, India and select other countries in Asia.

Conference Call and Webcast

Akebia management will host a conference call to review the details of the transaction beginning at 4:30 p.m. Eastern Time today, Tuesday, April 25, 2017. A live audio webcast of the presentation will be available on the company’s website at http://ir.akebia.com/events.cfm. An archived presentation will be available for 90 days.

To access the conference call, follow these instructions:

Dial: (877) 458-0977 (U.S.); (484) 653-6724 (international)
Conference ID: 12787133

About Vadadustat

Vadadustat is an oral hypoxia-inducible factor (HIF) stabilizer currently in development for the treatment of anemia related to chronic kidney disease. Vadadustat exploits the same mechanism of action used by the body to adapt naturally to lower oxygen availability associated with a moderate increase in altitude. At higher altitudes, the body responds to lower oxygen availability with increased production of HIF, which coordinates the interdependent processes of iron mobilization and erythropoietin production to increase red blood cell production and, ultimately, improve oxygen delivery.

About Anemia Associated with CKD

Anemia results from the body’s inability to coordinate red blood cell production in response to lower oxygen levels due to the progressive loss of kidney function with inadequate erythropoietin production. Left untreated, anemia significantly accelerates patients’ overall deterioration of health with increased morbidity and mortality. Anemia is currently treated with injectable recombinant erythropoiesis stimulating agents, which are associated with inconsistent hemoglobin responses and well-documented safety risks.5 The prevalence of anemia increases with the severity of CKD and is higher in people with CKD who are over age 60.

About Akebia Therapeutics

Akebia Therapeutics, Inc. is a biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on delivering innovative therapies to patients with kidney disease through hypoxia-inducible factor biology. Akebia’s lead product candidate, vadadustat, is an oral, investigational therapy in development for the treatment of anemia related to chronic kidney disease in both non-dialysis and dialysis patients. Akebia’s global Phase 3 program for vadadustat, which includes the PRO2TECT studies for non-dialysis patients with anemia secondary to chronic kidney disease and the INNO2VATE studies for dialysis-dependent patients, is currently ongoing. For more information, please visit our website at www.akebia.com.

About Otsuka

Otsuka Pharmaceutical is a global healthcare company with the corporate philosophy: “Otsuka – people creating new products for better health worldwide.” Otsuka researches, develops, manufactures and markets innovative and original products, with a focus on pharmaceutical products to meet unmet medical needs and nutraceutical products for the maintenance of everyday health.

In pharmaceuticals, Otsuka is a leader in the challenging area of mental health and also has research programs on several under-addressed diseases including tuberculosis, a significant global public health issue. These commitments illustrate how Otsuka is a “big venture” company at heart, applying a youthful spirit of creativity in everything it does.

Otsuka Pharmaceutical is a subsidiary of Otsuka Holdings Co., Ltd., headquartered in Tokyo, Japan, with 2016 consolidated sales of approximately $11 billion.

All Otsuka stories start by taking the road less travelled. Learn more about Otsuka in the U.S. at www.otsuka-us.com and connect with us on LinkedIn and Twitter at @OtsukaUS. Otsuka Pharmaceutical Co., Ltd.’s global website is accessible at www.otsuka.co.jp/en/.

Forward-Looking Statements

This press release includes forward-looking statements. Such forward-looking statements include those about Akebia’s strategy, future plans and prospects, including statements regarding the potential indications and benefits of vadadustat, the potential commercialization of vadadustat if approved by regulatory authorities, anticipated contributions from Otsuka pursuant to the Collaboration and License Agreement, Otsuka’s responsibilities pursuant to the Agreement, and the amount of collaboration-related funds able to be realized by Akebia. The words “anticipate,” “appear,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement, including the risk that existing preclinical and clinical data may not be predictive of the results of ongoing or later clinical trials; the ability of Akebia to successfully complete the clinical development program for vadadustat; the funding required to develop Akebia’s product candidates and operate the company, and the actual expenses associated therewith; the actual costs incurred in the global Phase 3 studies of vadadustat and the availability of financing to cover such costs; the timing of any additional studies initiated by Akebia or its collaborators for vadadustat; the timing and content of decisions made by regulatory authorities; the rate of enrollment in clinical studies of vadadustat; the actual time it takes to initiate and complete clinical studies; Akebia’s ability to satisfy its obligations under the Collaboration and License Agreement; early termination of the Collaboration and License Agreement by Akebia or Otsuka, the success of competitors in developing product candidates for diseases for which Akebia is currently developing its product candidates; and Akebia’s ability to obtain, maintain and enforce patent and other intellectual property protection for vadadustat around the world. Other risks and uncertainties include those identified under the heading “Risk Factors” in Akebia’s Annual Report on Form 10-K for the year ended December 31, 2016, and other filings that Akebia may make with the Securities and Exchange Commission in the future. Akebia does not undertake, and specifically disclaims, any obligation to update any forward-looking statements contained in this press release.

_________________
1Iseki K and Kohagura K. Anemia as a risk factor for chronic kidney disease. Kidney Int Suppl. 2007;107: S4-9.
2Culleton B, Manns B, Zhang J, et al. Impact of anemia on hospitalization and mortality in older adults. Blood. 2006;107(10): 3841-3846.
3Portolés J, Gorriz J, Rubio E, et al. The development of anemia is associated to poor prognosis in NKF/KDOQI stage 3 chronic kidney disease. BMC Nephrology. 2013;14 (1):2.
4IMS MIDAS, 2016.
5Singh AK. What is causing the mortality in treating the anemia of chronic kidney disease: erythropoietin dose or hemoglobin level? Curr Opin Nephrol Hypertens. 2010;19:420-424.

Akebia
Theresa McNeely, 617-844-6113
SVP, Corporate Communications and Investor Relations
tmcneely@akebia.com
or
Otsuka Pharmaceutical
(In Japan)
Jeffrey Gilbert, 81-3-6361-7379
Leader, Pharmaceutical Public Relations
Gilbert.jeffrey@otsuka.jp
or
(In the US)
Otsuka America Pharmaceutical, Inc.
Kimberly Whitefield, +1-609-535-9259
Corporate Communications
kimberly.whitefield@otsuka-us.com

Tuesday, April 25th, 2017 Uncategorized Comments Off on $AKBA and Otsuka Expand Relationship on Vadadustat for Europe, China, &c.

$APHB Presentation of Personalized Bacteriophage Therapy Case Study in MDR

Critically ill patient successfully treated with personalized phage therapy under Emergency IND

AmpliPhi Biosciences Corporation (NYSE MKT: APHB), a global leader in the development of therapies for drug-resistant bacterial infections using bacteriophage technology, announces that a case study highlighting the successful treatment of a critically ill patient with a multidrug-resistant (MDR) Acinetobacter baumannii (A. baumannii) infection will be featured in an oral presentation at the Centennial Celebration of Bacteriophage Research on April 26 at the Institut Pasteur in Paris. “Intravenous applications of phage therapy to treat a terminally ill patient who was infected with a multidrug-resistant A. baumannii” will be delivered by Dr. Biswajit Biswas of the U.S. Navy’s Medical Research Center-Biological Defense Research Directorate (NMRC-BDRD in Frederick, MD).

The case study involves a patient first diagnosed with an abdominal A. baumannii infection who had been treated with multiple courses of antibiotics over a four-month period, during which time the bacteria became resistant to cephalosporins, meropenem, gentamicin, amikacin, trimethoprim/sulfamethoxazole, tetracycline, ciprofloxacin and colistin. As the infection raged unchecked by antibiotics, the patient continued to deteriorate and eventually fell into a coma.

AmpliPhi was involved in a joint effort that included several academic institutions and the U.S. Navy laboratory that produced a customized bacteriophage therapy specifically targeted to the A. baumannii strain infecting the patient. In March 2016, therapy was initiated under an Emergency Investigational New Drug (IND) application approved by the U.S. Food and Drug Administration (FDA). Shortly after phage therapy was started, the patient emerged from the coma and continued to improve under ongoing phage therapy until the infection was cleared. To date, the infection has not returned.

The patient, Tom Patterson, Ph.D., a Professor at University of California, San Diego (UC San Diego), thanked the group that coalesced in the effort to save him and added, “I am living proof that MDR bacterial infections can be overcome. I am exceedingly grateful to the international community that made my recovery possible.”

Robert (Chip) Schooley, M.D., Professor of Medicine and Chief of the Division of Infectious Diseases at UC San Diego, who treated Dr. Patterson, remarked, “Phage therapy is a promising approach for treating patients suffering from serious bacterial infections that are highly resistant to currently available antibiotics. If successful, phage therapy could help tens of thousands of patients each year in the U.S. who have few or no other therapeutic options and, as a consequence, face severe disability or death.”

Previously, AmpliPhi’s wholly owned subsidiary, Special Phage Services, helped develop a personalized phage therapy that was used by Dr. Jonathan Iredell, Professor of Medicine and Microbiology at the University of Sydney and Westmead Institute of Medical Research, Director, Infectious Diseases, Westmead Hospital, to successfully treat an antibiotic-resistant Pseudomonas aeruginosa (P. aeruginosa) infection in the bladder of a female cancer patient. The results of this case were published in a manuscript in the Journal of Medical Microbiology and can be found at http://jmm.microbiologyresearch.org/content/journal/jmm/10.1099/jmm.0.029744-0#tab2.

In conjunction with the Centennial Celebration of Phage Research, Institut Pasteur is hosting a special symposium on April 27, entitled “Human Phage Therapy Day” http://www.bacteriophage100.org/phage-therapy-day2017. The gathering will bring together scientists, clinicians, veterinarians, pharmacists, legal experts and regulators from both the European Medicines Agency (EMA) and FDA and leaders at public and private institutions all with the goal of outlining what is needed to successfully reintroduce phage therapy as a solution to the growing crisis of antibiotic resistance.

About Antibiotic Resistance

Decades of misuse and over-use of antibiotics has led to the rise of multidrug-resistant and pan-resistant bacteria, commonly known as “superbugs.” These superbugs threaten to render existing antibiotic therapies useless, potentially thrusting the world into a “post-antibiotic” era where common infections may be life threatening. Hospitals regularly expose vulnerable patients to pathogenic bacteria. According to the World Health Organization, each year hundreds of millions of patients worldwide suffer from infections acquired in a hospital setting. The Centers for Disease Control and Prevention (CDC) estimates that drug-resistant bacteria cause at least 2 million infections per year in the U.S. alone, resulting in over 23,000 deaths and many more people die from other conditions that are complicated by antibiotic-resistant infections. The 2016 O’Neill Report commissioned by the UK government projects that the failure to respond to the threat of antibiotic resistance and the rise of superbugs could lead to an estimated 10 million deaths per year from antibiotic-resistant infections worldwide by 2050, with an accumulated global cost of $100 trillion and a 3.5% reduction in global GDP.

About Bacteriophages

Bacteriophages, or more simply “phages,” are the natural predators of bacteria and are thought to be the most abundant life form on earth. Over eons, phages have evolved an incredible diversity of specialist strains that typically prey upon just one strain of bacteria, enabling phage therapies to precisely target pathogenic bacteria while sparing the beneficial microbiota. Phages can infect and kill bacteria, whether they are antibiotic-resistant or not, and even when they have formed protective biofilms.

About AmpliPhi Biosciences

AmpliPhi Biosciences Corporation is a biotechnology company pioneering the development and commercialization of therapies for antibiotic-resistant infections using bacteriophage-based technology. AmpliPhi’s product development programs target infections that are often resistant to some or all existing antibiotic treatments. AmpliPhi has reported final results from two Phase 1 clinical trials of AB-SA01, one for the treatment of S. aureus in CRS patients and one to evaluate the safety of AB-SA01 when administered topically to the intact skin of healthy adults. For more information, visit www.ampliphibio.com.

Forward Looking Statements

Statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, the potential use of bacteriophages to treat bacterial infections, including infections that do not respond to antibiotics, the ability to rapidly manufacture customized therapies, the potential benefits of phage therapy, and AmpliPhi’s development of bacteriophage-based therapies. Words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “will,” “may,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. Among the factors that could cause actual results to differ materially from those indicated in these forward-looking statements are risks and uncertainties associated with AmpliPhi’s business and financial condition and the other risks and uncertainties described in AmpliPhi’s Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC, and other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and AmpliPhi undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

At the Company:
AmpliPhi Biosciences
Matthew Dansey, 858-800-4869
md@ampliphibio.com
or
Investor Relations:
LHA
Jody Cain, 310-691-7100
jcain@lhai.com

Tuesday, April 25th, 2017 Uncategorized Comments Off on $APHB Presentation of Personalized Bacteriophage Therapy Case Study in MDR

$ADHD Mails Proxy Materials for Extraordinary General Meeting of Shareholders

The Board Will Defend Shareholders from Opportunistic Takeover of the Company

Believes Brosh Capital’s Request Does Not Comply With Alcobra’s Articles of Association

TEL AVIV, Israel, April 24, 2017 — Alcobra Ltd. (Nasdaq:ADHD), an emerging pharmaceutical company focused on the development of new medications to treat CNS and cognitive disorders, today mailed proxy materials for the Extraordinary General Meeting of Shareholders, called by Brosh Capital L.P. and certain of its affiliates (“the Brosh Group”), to describe the Board’s opposition to the Brosh Group’s calling of the meeting and to provide shareholders with the ability to vote on the Company’s proxy card to defend Alcobra against an opportunistic takeover by a new investor with no track record of managing pharmaceutical companies.

As previously announced, Alcobra believes that the Brosh Group’s proposals violate the organizational documents of the Company and applicable law, and therefore Alcobra respectfully rejected the Brosh Group’s request to convene an extraordinary general meeting of shareholders. Alcobra believes the Extraordinary Meeting of Shareholders should not be held in light of applicable law, but is nevertheless committed to defending shareholders against an opportunistic takeover should the meeting be deemed legally valid.

The Extraordinary General Meeting is of particular importance to all Alcobra shareholders because the Brosh Group’s proposals aim to remove the Company’s entire Board of Directors – the members of which were elected by shareholders at the Company’s 2016 annual general meeting – and to fill the resulting Director vacancies with five individuals hand-picked and recommended solely by the Brosh Group. In short, the proposals are an effort by the Brosh Group to take control of Alcobra while offering no premium to every other shareholder.

The Board strongly believes that the Brosh Group’s proposals are not in the best interests of shareholders. Since Alcobra’s Directors are elected annually, subject to applicable law, shareholders who wish to propose replacement nominees and remove some or all of the current directors will have the ability to do so at this year’s annual general meeting of shareholders, which will be held on or prior to October 19, 2017.

Accordingly, Alcobra urges shareholders to reject the Brosh Group’s efforts to take control of the Board of Directors.  The Board unanimously recommends that shareholders vote AGAINST Proposals 1, 2, 3 and 4 by utilizing the Company’s GOLD proxy card and reject any proxy cards sent to them by the Brosh Group. If shareholders have any questions or need any assistance in voting shares by proxy, please contact Alcobra’s proxy solicitor, Morrow Sodali, at (800) 662-5200. Brokers may dial (203) 658-9400.

Alcobra is represented by Vinson & Elkins LLP, Gornitzky & Co. and ZAG-S&W LLP.

About Alcobra
Alcobra Ltd. (the “Company”) is an emerging pharmaceutical company primarily focused on the development and commercialization of medications to treat CNS and cognitive disorders. For more information, please visit the company’s website, www.alcobra-pharma.com, the content of which is not incorporated herein by reference.

Important Additional Information
The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company’s shareholders in connection with the extraordinary general meeting of shareholders (the “Extraordinary General Meeting”) called to be held on May 23, 2017 by Brosh Capital, L.P., Exodus Capital L.P., Exodus Management Israel Ltd. and Amir Efrati. The Company has filed a proxy statement and GOLD proxy card on Form 6-K with the SEC in connection with such solicitation of proxies from the Company’s shareholders. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING GOLD PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY WILL CONTAIN IMPORTANT INFORMATION. Information regarding the identity of the participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in the proxy statement and other materials to be filed with the SEC in connection with the Extraordinary General Meeting. Shareholders will be able to obtain the proxy statement, any amendments or supplements thereto and other documents filed by the Company with the SEC at no charge at the SEC’s website at www.sec.gov.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Because such statements deal with future events and are based on the Company’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of the Company could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding the timing and content of future communications to investors. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed with the Securities and Exchange Commission (SEC) and in subsequent filings with the SEC. Except as otherwise required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.

Investor Contacts            
Alcobra Investor Relations                                     
Debbie Kaye
US: 212-390-8964, Intl: +972-3-7299871  
IR@alcobra-pharma.com

Media Contacts
Gagnier Communications
Dan Gagnier/Patrick Reynolds
646-569-5897
dg@gagnierfc.com
Monday, April 24th, 2017 Uncategorized Comments Off on $ADHD Mails Proxy Materials for Extraordinary General Meeting of Shareholders

$KNDI Announces the Receipt of Third 2015 Government Subsidy Payment for EV Sales

Jinhua, China–(April 24, 2017) – Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the “Company” or “Kandi”), today announced that the electric vehicles (“EVs”) manufactured by Kandi Electric Vehicles Group Co., Ltd. (the “JV Company”, a 50/50 joint venture between Kandi and Zhejiang Geely Holding Group) in 2015 have received total subsidy payments of RMB 603.5 million (approximately US$87.6 million) from the Chinese government for 2015, of which a prepayment of RMB 364.5 million (approximately US$52.9 million) was received on August 10, 2015, and RMB 239 million (approximately US$34.7 million) was received on April 21, 2017.

Mr. Hu Xiaoming, Chairman and Chief Executive Officer of Kandi, commented, “the JV Company was top ranked in EV sales during 2015. Once the third central government subsidy payment for 2015 is received, there will be an annual settlement of all subsidy payments for 2015, and a further central government subsidy payment of RMB 400 million (approximately US$58.1 million) is expected to arrive. Although confusion surrounding EVs using the reusable battery exchange model that were manufactured and sold by the JV Company during 2013 and 2014 was finally resolved after dialogue with government authorities, the JV Company’s business in 2016 was nonetheless heavily impacted. With subsidy payment installments of arriving gradually, we will redouble our efforts to grow our business and hope to achieve more promising results in 2017.”

Note: All the currency conversions from RMB to USD referred to in this press release are based on an exchange rate of 1RMB = 0.1452 USD, published by www.xe.com on the date before the release of this press release.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicle products. Kandi has established itself as one of China’s leading manufacturers of pure electric vehicle (“EV”) products (through its joint venture), EV parts and off-road vehicles. More information can be viewed at the Company’s corporate website at http://www.kandivehicle.com. The Company routinely posts important information on its website.

Safe Harbor Statement

This press release contains certain statements that may include “forward-looking statements.” All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on the SEC’s website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Follow us on Twitter: @ Kandi_Group

Company Contact:

Ms. Kewa Luo
Kandi Technologies Group, Inc.
Phone: 1-212-551-3610
Email: IR@kandigroup.com

Monday, April 24th, 2017 Uncategorized Comments Off on $KNDI Announces the Receipt of Third 2015 Government Subsidy Payment for EV Sales

$MYOS Will Be Silver Sponsor at ICFSR

The Company Will be in Attendance to Discuss Benefits of Fortetropin® for Aging Adults

CEDAR KNOLLS, N.J., April 24, 2017  — MYOS RENS Technology Inc. (“MYOS” or “the Company”) (NASDAQ: MYOS), a company focused on the discovery, development and commercialization of muscle health and performance products, announced today that it will be a Silver Sponsor at the upcoming International Conference on Frailty and Sarcopenia Research (ICFSR), to be held April 27-29, 2017 in Barcelona, Spain. MYOS will be using this event as a platform for introducing clinicians to Qurr Well, their new line of functional nutrition products targeted at improving musculoskeletal health in aging adults.

“We are pleased to be a sponsor at the upcoming International Conference on Frailty and Sarcopenia Research, and to have the opportunity to showcase the Qurr Well portfolio of products that may provide a solution to age-related muscle loss in adults by increasing lean muscle mass,” stated Joseph Mannello, interim CEO of MYOS. “With this portfolio of products, MYOS aspires to become one of the leading companies in the world focused on improving musculoskeletal health in aging adults.”

The ICFSR is the premier medical conference that highlights advances in sarcopenia research, with over 400 leading physicians and scientists with expertise in sarcopenia from 62 countries attending each year. Sarcopenia is defined by the National Institutes of Health as the progressive and generalized loss of skeletal muscle mass and function in older adults, and MYOS will be joining other companies focused on addressing sarcopenia through therapeutics and nutrition at the conference.

Qurr Well, along with the entire Qurr portfolio of products, features Fortetropin®, which has been clinically shown to build lean muscle mass and improve muscle function.  Fortetropin® is MYOS’ proprietary ingredient that naturally reduces myostatin.  It is prepared from fertilized egg yolk and is processed using patented technology to preserve the natural bioactivity of egg yolk. Results from a double-blind, placebo-controlled human clinical study with researchers from the University of Tampa demonstrated statistically significant gains in muscle thickness relative to placebo.  Qurr products come in shakes and powders and are available in four flavors.

MYOS will exhibit in booth #2 at ICFSR 2017, and its scientists will be in attendance to meet with conference delegates to discuss the Company’s latest research findings. For more information or to purchase Qurr, please visit www.qurr.com.

About MYOS RENS Technology Inc.
MYOS RENS Technology (MYOS), “The Muscle Company™”, is a Cedar Knolls, NJ-based biotherapeutics and bionutrition company focused on developing products that improve muscle health and performance and bringing them to market. MYOS is the owner of Fortetropin®, the world’s first clinically demonstrated myostatin reducer. Myostatin is a natural regulatory protein, which inhibits muscle growth and recovery. Fortetropin® is manufactured to optimize biological activity, which MYOS believes has the potential to redefine existing standards of physical health and wellness enhancement.

Forward-Looking Statements
Any statements in this release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to those relating to product and customer demand, market acceptance of our products, the ability to create new products through research and development, the successful launch of our products, including Qurr products, the success of our research and development, the results of the clinical evaluation of Fortetropin® and its effects, the ability to enter into partnership opportunities, the ability to generate the forecasted revenue stream and cash flow from sales of our products, the ability to achieve a sustainable, profitable business, the effect of economic conditions, the ability to protect our intellectual property rights, competition from other providers and products, the continued listing of our securities on the Nasdaq Stock Market, risks in product development, our ability to raise capital to fund continuing operations, and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.

These statements have not been evaluated by the Food and Drug Administration. Our products are not intended to diagnose, treat, cure or prevent any disease.

Media Contact
MYOS RENS Technology Inc.
Joanne Goodford
(973) 509-0444
jgoodford@myoscorp.com

Monday, April 24th, 2017 Uncategorized Comments Off on $MYOS Will Be Silver Sponsor at ICFSR

$UPLD Acquisition, Raises 2017 Guidance/Adjusted EBITDA Margin Target

AUSTIN, Texas, April 24, 2017  — Upland Software, Inc. (Nasdaq: UPLD), a leader in cloud-based Enterprise Work Management software, today announced that it has acquired RightAnswers, Inc., an award-winning, cloud-based knowledge management system. Upland today also raised its 2017 guidance to reflect the RightAnswers acquisition and raised its long-term Adjusted EBITDA margin target to 40%.

“We are pleased to welcome RightAnswers and their valued customers and partners to Upland,” said Jack McDonald, Chairman and CEO of Upland Software. “This strategic acquisition is a great product addition for current Upland customers looking to enhance their customer service, IT support, and enterprise-wide collaboration capabilities.”

“We’re excited to join Upland both because of the great product fit, and because of our shared vision of 100% customer success,” said Jeff Weinstein, President and CEO of RightAnswers. “The opportunity to leverage the UplandOne operating platform to amplify our product innovation, service, and support make this a great transaction for RightAnswers’ customers and partners,” said Mark Finkel, Chairman and Founder of RightAnswers.

The purchase price paid for RightAnswers was $17.2 million in cash at closing, net of cash acquired, and a $2.5 million cash holdback payable in one year (a portion of which is available to satisfy indemnification claims). The foregoing excludes any potential future earn-out payments tied to additional performance-based goals. Upland expects the acquisition to generate annual revenue of approximately $9 million, subject to reductions for a deferred revenue discount as a result of GAAP purchase accounting. The acquisition is within Upland’s target range of 5-8x pro forma Adjusted EBITDA and will be immediately accretive to Upland’s Adjusted EBITDA per share.

Business Outlook

Upland today also announced that it has raised its full year 2017 guidance to reflect the RightAnswers acquisition, raising revenue, recurring revenue, and Adjusted EBITDA guidance ranges. The increase in 2017 revenue guidance below is net of an estimated $1.7 million reduction for a deferred revenue discount as a result of GAAP purchase accounting and all guidance adjustments are prorated for an effective closing date of April 30, 2017.

For the full year ending December 31, 2017, Upland expects reported total revenue to be in the range of $87.0 to $91.0 million including recurring revenue in the range of $76.0 to $79.0 million, for growth in recurring revenue of 19% at the mid-point over the year ended December 31, 2016. For the full year ending December 31, 2017, Adjusted EBITDA is expected to be in the range of $26.0 to $29.0 million, for an Adjusted EBITDA margin of 31% at the mid-point, representing growth of 118% at the mid-point over the year-ended December 31, 2016.

Finally, Upland today raised its long-term Adjusted EBITDA margin target from 35% to 40%.

“We are today raising our long-term Adjusted EBITDA margin target to 40% to reflect the increased customer loyalty and operating efficiency we are seeing with UplandOne and as we scale,” said Mr. McDonald.

About Upland Software

Upland Software (Nasdaq: UPLD) is a leading provider of cloud-based Enterprise Work Management software. Our family of applications enables users to manage their projects, professional workforce and IT investments, automate document-intensive business processes and effectively engage with their customers, prospects and community via the web and mobile technologies. With more than 2,500 customers and over 250,000 users around the world, Upland Software solutions help customers run their operations smoothly, adapt to change quickly, and achieve better results every day. To learn more, visit www.uplandsoftware.com.

About RightAnswers

RightAnswers is a leading provider of cloud-based knowledge management, enterprise knowledge search, and social knowledge software for improving customer service, IT support, and enterprise-wide collaboration. RightAnswers’ flagship product, the Enterprise Knowledge Hub, promotes knowledge-sharing across organizations, increasing employee engagement and overall productivity and efficiency. RightAnswers’ 200+ clients around the globe use RightAnswers seamlessly integrated with their CRM, ITSM or other enterprise software to provide outstanding customer experiences while saving millions of dollars a year.

Signal Hill advised RightAnswers on the transaction.

Forward-looking Statements

This release contains forward-looking statements, which are subject to substantial risks, uncertainties and assumptions. Accordingly, you should not place undue reliance on these forward-looking statements. Forward-looking statements include any statement that does not directly relate to any historical or current fact and often include words such as “target,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may” or similar expressions. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our financial performance and our ability to achieve, sustain or increase profitability or predict financial results; our ability to attract and retain customers; our ability to deliver high-quality customer service; lack of demand growth for enterprise work management applications; our ability to effectively manage our growth; our ability to consummate and integrate acquisitions and mergers; maintaining our senior management and key personnel; our ability to maintain and expand our direct sales organization; the performance of our resellers; our ability to adapt to changing market conditions and competition; our ability to successfully enter new markets and manage our international expansion; fluctuations in currency exchange rates; the operation and reliability of our third-party data centers and other service providers; and factors that could affect our business and financial results identified in Upland’s filings with the Securities and Exchange Commission (the “SEC”), including Upland’s most recent annual report on Form 10-K filed with the SEC. Additional information will also be set forth in Upland’s future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that Upland makes with the SEC. The forward-looking statements herein represent Upland’s views as of the date of this press release and these views could change. However, while Upland may elect to update these forward-looking statements at some point in the future, Upland specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the views of Upland as of any date subsequent to the date of this press release.

Non-GAAP Financial Measures

To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use non-GAAP financial measures including Adjusted EBITDA.

We use non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses and expenditures that may not be indicative of our recurring core business operating results, such as our revenues excluding the impact for foreign currency fluctuations or our operating performance excluding not only non-cash charges, but also discrete cash charges that are infrequent in nature. We believe that both management and investors benefit from referring to non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. Non-GAAP financial measures also facilitate management’s internal comparisons to our historical performance and liquidity as well as comparisons to our competitors’ operating results. We believe non-GAAP financial measures are useful to investors both because they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and they are used by our institutional investors and the analyst community to help them analyze the health of our business.

Upland defines Adjusted EBITDA as net income (loss), calculated in accordance with GAAP, plus net income (loss) from discontinued operations, depreciation and amortization expense, interest expense, net, other expense (income), net, provision for income taxes, stock-based compensation expense, acquisition-related expenses, non-recurring litigation costs, and purchase accounting adjustments for deferred revenue.

For a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures, please see Upland’s earnings press releases filed on Form 8-K with the SEC and on the Investor Relations section of Upland’s website at investor.uplandsoftware.com.

Media Contact:
Kaley Ganino
512.960.1010
media@uplandsoftware.com

Monday, April 24th, 2017 Uncategorized Comments Off on $UPLD Acquisition, Raises 2017 Guidance/Adjusted EBITDA Margin Target

$RGSE Issues Business Update

Reports Progress on Top Line Growth Strategy

DENVER, April 24, 2017 — RGS Energy (NASDAQ:RGSE), a residential and small business commercial solar company since 1978, provided a business update following its presentation at the 29th Annual Roth Conference on March 15, 2017. A copy of the presentation is available on the company’s website.

“I feel good about the progress we are making since we presented our strategy for top line revenue growth at the Roth conference,” said Dennis Lacey, CEO of RGS Energy.  “Our vision remains to grow top line revenue by growing the size of our sales organizations, and supporting them with training and cost effective marketing leads.”

RGS Energy’s positive outlook is supported by strong tailwinds emerging in the U.S. residential solar market, which is projected to grow at 9% in 2017, per GTM Research, with direct ownership predicted to overtake leasing for the first time. GTM projects total installed U.S. solar PV capacity to nearly triple over the next five years.

“We made the strategic decision not to adopt the business model of major solar companies whereby it appears to us the more they grow, the more they lose,” said Dennis Lacey, RGS Energy’s CEO.  “I feel we have been making the right calls.  We were the first public residential focused solar company to adopt direct ownership versus leasing.  We also made the call early on that the industry model for customer acquisition costs was too expensive, exited unprofitable markets such as large commercial, and physically exited the highly saturated costly California market. We have already taken the painful steps to optimize our operating cost structure and are the only debt-free public residential focused solar company in the United States.”

Update on Company Sales:

(000’s omitted) 1st Quarter
Preliminary
Mar. 31, 2017
Last Quarter
Reported
   Dec. 31, 2016
Gross sales $ 3,017 $ 2,556
Cancellations 1,047 1,886
Net sales:     $ 1,960 $ 670

The company increased net sales 194%.

“We have a long history with community solarize programs having done 39 in our history in which we have typically enjoyed higher lead to sales rates,” noted Tom Champlin, RGS Energy’s Head of East Coast Sales.  “On April 5, we launched the Granby, Connecticut solarize program; the township has set a four-month selling period.  We typically enjoy higher lead to sale rates for community solarize programs.  The traditional season for community solarize programs is just beginning, and we expect to bid on additional programs in the coming months.”

Update on Residential Sales Organization:

  1st Quarter
Preliminary
Mar. 31, 2017
Last Quarter
Reported
   Dec. 31, 2016
Sales managers 8 6
Direct sales people 36 21
Sales support 12 6
Total: 56 33

The company increased the size of the residential segment sales organization by 70%.

“The number one driver of our top line revenue growth strategy is the hiring and training of our sales teams,” said Karen Rainone, RGS Energy’s Director of Human Resources.  “We are meeting our sales force growth objectives, and to match our training capabilities with this growth, we recently added a senior leader with an extensive training record.”

Update on Sunetric Organization:

The company reported April 17, 2017 on the very timely ruling by the Hawaii Public Utility Commission (“PUC”) authorizing an estimated 20 megawatts of additional capacity for its customer grid-supply solar program. This has coincided with Sunetric’s focus on building its sales and construction teams in Hawaii for growth.

“As previously disclosed, the market in Hawaii has been quite challenging for solar companies,” said Alan Fine, RGS Energy’s Principal Financial Officer.  “However, our view has recently become bullish due to the recent announcement by the PUC and our new local management team, who for the first 19 days of April, have already sold $125k, more than the entire first quarter.”

Update on Residential Segment Operations:

1st Quarter
Preliminary
Mar. 31, 2017
Last Quarter
Reported
   Dec. 31, 2016
Operations construction team 36 38
Operations support team 35 34
Total 71 72
 
Average COGS cost per watt $ 3.26 $ 3.07
Average cycle time 143 216

“We plan to add to our construction crews very soon to meet the growth in sales,” said Brad Bentzen, RGS Energy’s Director of Residential Operations. “To maximize the customer experience, we have set and are meeting the goal of reducing our cycle time for installations.”

“As the first quarter is seasonally a challenge for construction, the average cost per watt is higher during this period,” continued Bentzen. “We expect this metric to decline throughout the year as our revenue grows.”

Update on Cost Effective Residential Marketing:

1st Quarter
Preliminary

   Mar. 31, 2017
Last Quarter
Reported
   Dec. 31, 2016
Avg. number of lead program providers 37 27
Cost effective lead programs paid on performance – percentage of total lead mix 36 % 2 %

“For profitability, we set the goal to move away from the industry approach of purchasing paid lead lists, regardless of whether it results in a signed customer contract,” said Seth Wiggins, RGS Energy’s Vice President of Sales. “We are currently signing vendor contracts where we pay for performance, meaning it results in a signed customer contract.”

Wiggins further stated: “As announced on April 20, 2017, we achieved a significant milestone this month, switching from our in-house digital marketing to launching a digital marketing program with Madwire’s Marketing 360 customer acquisition platform.  We have enjoyed a better lead-to-sale rate with digital marketing than paid lead vendor programs and expect this milestone will allow our growing sales teams to be more successful and grow our revenue at a lower cost.”

Update on Installation Revenue:

(000’s omitted) 1st Quarter
Preliminary
   Mar. 31, 2017
Last Quarter
Reported
   Dec. 31, 2016
Residential segment $ 3,629 $ 4,800
Sunetric segment 12 338
Total $ 3,641 $ 5,138

Targets and Expectations:

  • Achieving break-even results in the fourth quarter of 2017 or the first quarter of 2018.
  • Steady and improving progress in sales growth for the remainder of 2017, with installation revenue growth delayed a quarter due to typical construction cycle time.
  • Expand into new states for sales of solar systems.
  • Digital and content marketing, not vendor lead programs, to be the principal source of customer sourcing.
  • A reduction in construction cycle time.
  • Cash outflow from operations until break-even results are achieved.  The company preliminarily expects to report working capital at March 31, 2017 of approximately $16 million.

About RGS Energy
RGS Energy (NASDAQ:RGSE) is a residential and small business commercial solar Company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions – from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Forward-Looking Statements and Cautionary Statements
The preliminary financial data discussed above consists of estimates derived from RGS Energy’s internal books and records and has been prepared by, and are the responsibility of, the company’s management. The preliminary estimates discussed above are subject to the completion of financial closing procedures, final adjustments and other developments that may arise between now and the time the financial results for the first quarter ended March 31, 2017 are finalized. Therefore, actual results may differ materially from these estimates and all of these preliminary estimates are subject to change.

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations.  The words “expect,” “target,” “plan,” “future,” “believe,” “may,” “will” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: the effect of electric power generation industry regulations in the states where RGS Energy operates, net electric power metering and related policies; the level of demand for RGS Energy’s solar energy systems; RGS Energy’s ability to implement its growth strategy, achieve its target level of sales, to generate cash flow from operations and to be awarded community solarize programs; RGS Energy’s ability to achieve break-even and better results; and RGS Energy’s ability to acquire cost-effective marketing leads, reduce cycle time for installations and expand its product offerings.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties.  Any forward-looking statements made by us in this press release speak only as of the date of this press release.  Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them.  We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

 

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
RGSE@cma.team
Monday, April 24th, 2017 Uncategorized Comments Off on $RGSE Issues Business Update

$CRWS to Present at The 21st Annual BURKENROAD REPORTS Investment Conference

GONZALES, La., April 21, 2017 — Crown Crafts, Inc. (NASDAQ:CRWS) (the “Company”) announced today that E. Randall Chestnut, Chairman, President and Chief Executive Officer; Olivia W. Elliott, Vice President and Chief Financial Officer; and Daniel W. Miller, Treasurer, will present at 8:30 a.m. Central Daylight Time on Friday, April 28, 2017 at the 21st Annual BURKENROAD REPORTS Investment Conference, to be held at the Sheraton New Orleans Hotel.

Management’s presentation will be webcast and available for live viewing on the Company’s website, www.crowncrafts.com.

About BURKENROAD REPORTS
BURKENROAD REPORTS was founded in 1993 by Peter F. Ricchiuti, Assistant Dean and Clinical Professor of Finance at the A.B. Freeman School of Business at Tulane University (“Freeman”).  Mr. Ricchiuti continues to serve as the Director of Research, and each year he leads more than 200 Freeman students who prepare and publish objective investment research reports on over three dozen public companies in the region.  Named in honor of William B. Burkenroad, Jr., an alumnus and longtime supporter of Freeman, and funded through contributions from his family and friends, the nationally recognized program has been widely featured on Nightly Business Report, CNBC, CNN, The Wall Street Journal and The New York Times.            www.burkenroad.org.

About Crown Crafts, Inc.
Crown Crafts, Inc. designs, markets and distributes infant, toddler and juvenile consumer products, including crib and toddler bedding; blankets; nursery accessories; room décor; burp cloths; bathing accessories; reusable and disposable bibs; and disposable placemats, floor mats, toilet seat covers and changing mats.  The Company’s operating subsidiaries consist of Crown Crafts Infant Products, Inc. in California and Hamco, Inc. in Louisiana.  Crown Crafts is among America’s largest producers of infant bedding, toddler bedding and bibs.  The Company’s products include licensed and branded collections, as well as exclusive private label programs for certain of its customers.  The Company’s website is www.crowncrafts.com.

Contact:
Investor Relations Department
(225) 647-9146

or

Halliburton Investor Relations
(972) 458-8000
Friday, April 21st, 2017 Uncategorized Comments Off on $CRWS to Present at The 21st Annual BURKENROAD REPORTS Investment Conference

$LLNW Limelight Video Services Enhanced to Support the Latest Trends in Digital Media Usage

New technology delivers exceptional online video experiences

Limelight Networks, Inc. (Nasdaq: LLNW), a global leader in digital content delivery, will announce new enhancements to its Video Delivery Services at the 2017 NAB Show to ensure the delivery of consistent high-quality digital experiences.

Limelight’s Video Delivery Services leverage Limelight’s market-leading CDN to deliver the largest live and video on-demand events at broadcast quality to virtually any device, anywhere. New features and enhancements will provide added functionality for content conversion, playback, delivery, and monetization. These include:

  • DRM Support: Limelight has partnered with BuyDRM, a leading provider of Digital Rights Management (DRM) solutions, to offer DRM content protection supporting Microsoft PlayReady, Google WideVine and Apple FairPlay. DRM protects content by controlling what end users can do with video streams, such as sharing, recording, or view only.
  • Low Latency Live Streaming: At NAB, Limelight is introducing new improvements for HLS and MPEG-DASH streaming to reduce the latency of live events streamed with Limelight MMD Live. In addition, Limelight continues its support of RTMP/Flash streaming while continuing development in support of emerging low-latency web streaming standards.
  • Live to VOD Recording: Limelight is also announcing the upcoming ability to simultaneously stream live video while recording it for subsequent use as video on demand content. The live streams will be captured in Limelight Origin Storage and automatically converted to popular VOD formats during later playback.
  • Live Streaming from Mobile Devices: Users can now live stream from Android and iOS mobile devices directly to Limelight MMD Live service via Larix Broadcaster, a free application available in Google Play and Apple AppStore.

“Mobile devices are changing the world today and transforming how content distributors create, prepare and deliver digital media,” said Christopher Levy, CEO & Founder of BuyDRM. “Working with Limelight, we can securely streamline and automate that process so customers can get to market faster while maintaining their content’s security.”

Limelight will be highlighting its new and upcoming enhanced video capabilities and its full video delivery solutions at the NAB Show in the South Hall Upper booth #SU10714.

About Limelight
Limelight Networks, a global leader in digital content delivery, empowers customers to better engage online audiences by enabling them to securely manage and globally deliver digital content, on any device. The company’s award winning Limelight Orchestrate™ platform includes an integrated suite of content delivery technology and services that helps organizations secure digital content, deliver exceptional multi-screen experiences, improve brand awareness, drive revenue, and enhance customer relationships — all while reducing costs. For more information, please visit www.limelight.com, read our blog, follow us on TwitterFacebook and LinkedIn and be sure to visit Limelight Connect.

fama PR on behalf of Limelight Networks
Ted Weismann, 617-986-5009
limelight@famapr.com
or
Investor Inquiries
ir@llnw.com

Friday, April 21st, 2017 Uncategorized Comments Off on $LLNW Limelight Video Services Enhanced to Support the Latest Trends in Digital Media Usage