Uncategorized
Collaborating with TECO-Westinghouse Motor Company, Massachusetts Institute of Technology and University of North Texas
AUSTIN, Texas, Nov. 29, 2016 — Superconductor Technologies Inc. (STI) (Nasdaq:SCON) has been selected as prime recipient of the $4.5 million program award provided by the U.S. Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy (EERE), on behalf of the Advanced Manufacturing Office, for its Next Generation Electric Machines (NGEM) program. Collaborating with STI is TECO-Westinghouse Motor Company (TWMC), an industry leading manufacturer of electric generators and motors, and renowned academic institutions Massachusetts Institute of Technology (MIT) and University of North Texas (UNT). The combined team will focus on improving the manufacturing process of superconductive wires to improve performance and yield while reducing cost at high enough temperatures where nitrogen can be used as the cryogenic fluid.
“Advancing these enabling technologies has the potential to boost the competitiveness of American manufacturers and take the development of more efficient electric machines a giant step further,” said Mark Johnson, director of the EERE Advanced Manufacturing Office. “These technology R&D projects aim to significantly improve industrial motors for manufacturing, helping companies who use these motors in manufacturing save energy and money over the long run.”
“We believe that being selected first by our esteemed proposal partners and then winning the DOE award recognizes STI’s unique HTS manufacturing process and our ability to achieve high performance, cost efficiencies and commercial scale capacity,” stated STI’s president and chief executive officer Jeff Quiram. “In addition, the significant wire improvement goals for this program will address our customers’ desire for increased infield magnetic performance and high performance/low cost wire for many applications, such as motors, generators, magnets, power cables and MRI machines. STI expects to transition from R&D to full scale production of motor- and generator-optimized wire during the three-year project plan, which will enable our superconducting technology to be introduced into Next Generation Electrical Machines utilizing high performance/low cost HTS wire.”
TWMC’s president Pat Rogers stated, “TWMC recognized the immense value of superconductor technology for high-power electric machines early, and we are committed to their commercialization. We look forward to collaborating to develop the transformational technology needed to achieve commercial viability of high power superconducting next-generation electric machines.”
MIT’s Plasma Science and Fusion Center Assistant Director Joseph V. Minervini stated, “STI’s goal of high performance at low cost can be a game changer for a wide range of applications, not only at temperatures near liquid nitrogen, but also at lower temperatures.”
UNT’s Assistant Professor Materials and Science Engineering Dr. Marcus L. Young stated, “By bringing together university knowledge and capabilities from MIT and UNT with STI, a world class manufacturer of superconducting materials, and TWMC, the end user and device maker with over 100 years of experience in motor design and application, the full range of research and development to product manufacturing and wide scale commercialization of superconducting materials will be achieved.”
About Superconductor Technologies Inc. (STI)
Superconductor Technologies Inc. is a global leader in superconducting innovation. Its Conductus® superconducting wire platform offers high performance, cost-effective and scalable superconducting wire. With 100 times the current carrying capacity of conventional copper and aluminum, superconducting wire offers zero resistance with extreme high current density. This provides a significant benefit for electric power transmission and also enables much smaller or more powerful magnets for motors, generators, energy storage and medical equipment. Since 1987, STI has led innovation in HTS materials, developing more than 100 patents as well as proprietary trade secrets and manufacturing expertise. For more than 20 years STI utilized its unique HTS manufacturing process for solutions to maximize capacity utilization and coverage for Tier 1 telecommunications operators. Headquartered in Austin, TX, Superconductor Technologies Inc.’s common stock is listed on the NASDAQ Capital Market under the ticker symbol “SCON.” For more information about STI, please visit http://www.suptech.com.
Safe Harbor Statement
Statements in this press release regarding our business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors, which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include, but are not limited to: our limited cash and a history of losses; our need to materially grow our revenues from commercial operations and/or to raise additional capital (which financing may not be available on acceptable terms or at all) in the very near future, before cash reserves are depleted (which reserves are expected to be sufficient into the first quarter of 2017), to implement our current business plan and maintain our viability; the performance and use of our equipment to produce wire in accordance with our timetable; overcoming technical challenges in attaining milestones to develop and manufacture commercial lengths of our HTS wire; the possibility of delays in customer evaluation and acceptance of our HTS wire; the limited number of potential customers and customer pressures on the selling prices of our products; the limited number of suppliers for some of our components and our HTS wire; there being no significant backlog from quarter to quarter; our market being characterized by rapidly advancing technology; the impact of competitive products, technologies and pricing; manufacturing capacity constraints and difficulties; the impact of any financing activity on the level of our stock price; the dilutive impact of any issuances of securities to raise capital; the steps required to maintain the listing of our common stock with a U.S. national securities exchange and the impact on the liquidity and trading price of our common stock if we fail to maintain such listing; the cost and uncertainty from compliance with environmental regulations; and local, regional, and national and international economic conditions and events and the impact they may have on us and our customers.
Forward-looking statements can be affected by many other factors, including, those described in the “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of STI’s Annual Report on Form 10-K for the year ended December 31, 2015 and in STI’s other public filings. These documents are available online at STI’s website, www.suptech.com, or through the SEC’s website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.
Investor Relations Contact
Cathy Mattison or Kirsten Chapman
LHA +1-415-433-3777 invest@suptech.com
Merchants May Access PCI ToolKit(R) Activities in Chinese, English, Russian and Spanish
MIAMI, FL–(Nov 29, 2016) – Net Element, Inc. (NASDAQ: NETE) (“Net Element” or the “Company”), a provider of global mobile payment technology solutions and value-added transactional services, today announced it has selected Conformance Technologies, a fast-growing provider of operating systems, education systems and expertise used in managing business compliance requirements as its preferred provider for data compliance solutions.
Net Element will be offering PCI ToolKit in Chinese, English, Russian and Spanish languages for Payment Card Industry Data Security Standard (PCI DSS) merchant portfolio assessments. Net Element and its merchants will also have access to the Cyber Attack Readiness ToolKit™ and InConRadar™ toolsets for penetration testing, primary account number (PAN) scanning and real-time website monitoring of prohibited card brand acceptance activities.
“The integrated compliance-related solution set with the flexibility to handle multiple languages made partnering with Conformance Technologies a very easy decision for us,” said Oleg Firer, chief executive officer for Net Element. “Their solutions provide us with a revenue opportunity, while making painful and costly compliance activities understandable and affordable for our diverse customer base,” added Firer.
“We are excited to partner with Net Element to give their merchants access to compliance solutions in the languages they speak every day,” said Darrel Anderson, president of Conformance Technologies. “The design of the Conformance Compliance Operating System™ enables the roll out of multi-language capabilities in just a matter of days,” added Anderson. “The end result is that Net Element customers have confidence they are protecting their businesses with the most comprehensive and affordable toolkit solutions available that are easy to use and understand.”
About Conformance Technologies
Conformance Technologies is a fast-growing provider of operating systems, educational systems and expertise used in managing business compliance requirements. More than 300,000 small and midsize business end-users rely on Conformance Technologies’ solutions to protect their businesses every day, both domestically and around the world. Available solutions include the patented PCI ToolKit, Data Incident Management Program®, TINMatch ToolKit™, Cyber Attack Readiness ToolKit, Payment Security Awareness System™, Breach Defense Reviewer™ and InConRadar which offers cost effective, real-time merchant website monitoring.
Conformance Technologies is a privately held corporation headquartered in Reno, Nevada, with offices in Phoenix, Arizona, Orange County, California and San Antonio, Texas. Evolving from a payments consultancy and PCI compliance firm established in 2003, Conformance has become a leading provider of automated compliance and sensitive data protection systems and services. For more information, please visit www.conformancetech.com.
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Further information is available at www.netelement.com.
Forward-Looking Statements
Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to whether the partnership with Conformance Technologies will generate revenue for or otherwise be beneficial to the Company. Additional examples of such risks and uncertainties are: (i) Net Element’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element’s ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element’s ability to successfully expand in existing markets and enter new markets; (iv) Net Element’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element’s business; (viii) changes in government licensing and regulation that may adversely affect Net Element’s business; (ix) the risk that changes in consumer behavior could adversely affect Net Element’s business; (x) Net Element’s ability to protect its intellectual property; (xi) local, industry and general business and economic conditions; (xii) adverse effects of potentially deteriorating U.S.-Russia relations, including, without limitation, over a conflict related to Ukraine, including a risk of further U.S. government sanctions or other legal restrictions on U.S. businesses doing business in Russia. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element with the Securities and Exchange Commission. Net Element anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
IV Meloxicam Achieves Primary Endpoint of Statistically Significant Reduction in SPID24 in Patients with Acute Postoperative Pain Following Abdominoplasty Surgery
Ten Secondary Endpoints Also Met
Company Estimates Filing US NDA in Summer 2017
MALVERN, Pa., Nov. 28, 2016 — Recro Pharma, Inc. (Nasdaq:REPH), a revenue generating specialty pharmaceutical company focused on products for hospital and ambulatory care settings, currently developing non-opioid products for the treatment of serious acute pain, today announced positive results from its second of two Phase III clinical trials evaluating intravenous (IV) meloxicam for the treatment of acute postoperative pain. In this trial, IV meloxicam achieved the primary endpoint of a statistically significant difference in Summed Pain Intensity Difference (SPID) over the first 24 hours (SPID24), compared to placebo, in patients following abdominoplasty surgery. With the positive data from this study, the Company believes this completes the efficacy program for the IV meloxicam New Drug Application (NDA).
In this multicenter, randomized, double-blind, placebo-controlled clinical trial, 219 patients were enrolled and randomly assigned to receive a postoperative regimen of IV meloxicam (30mg bolus injection) or placebo in a 1:1 ratio, once every 24 hours. The IV meloxicam treatment arm demonstrated a statistically significant reduction in SPID24 (p=0.0145) compared to the placebo arm. The study also achieved statistical significance for 10 of the secondary endpoints, including statistically significant differences in SPID12 (p=0.0434), time to perceptible pain relief (p=0.0050), subjects with ≥30% improvement at 24 hours (p=0.0178), number of times patients required rescue in the first 24 hours after randomization (p=0.0275), as well as number of times rescued from 24 to 48 hours (p=0.0009), and several other pain relief metrics, compared to placebo.
The safety results demonstrated that IV meloxicam was well tolerated with no difference in serious adverse events (SAEs) related to bleeding for IV meloxicam treated patients versus placebo (1 each). There were two additional SAEs observed in the placebo group. The most common (≥2% in the IV meloxicam group) adverse events (AEs) were nausea, headache, vomiting, and dizziness. The incidence of these events was lower than those observed in the placebo group. The majority of AEs were mild in nature and one patient in the placebo group discontinued treatment due to an adverse event of post-procedural bleeding.
There were no meaningful differences between treatment groups in vital signs, ECGs or clinical lab assessments.
“The data from this trial demonstrated that IV meloxicam achieved a statistically significant difference in SPID24 pain relief following abdominoplasty surgery, a favorable safety and tolerability profile, and impressive impact on the number of times patients required rescue throughout the 0-24 and 24-48 hour periods, as well as the percent of subjects with ≥30% improvement at 24 hours,” said Neil Singla, M.D., Chief Scientific Officer of Lotus Clinical Research. “These data are important because they show that, if approved, IV meloxicam has the potential to be a new, non-opioid alternative for patients with moderate-to-severe pain following soft tissue surgery.”
“The positive outcome from this second pivotal trial continues to demonstrate the efficacy of IV meloxicam in the acute postoperative setting, while reinforcing the favorable efficacy and safety profile observed in five prior studies,” said Gerri Henwood, Recro Pharma’s President and Chief Executive Officer. “Given the urgent need for non-opioid pain relief alternatives, we believe the data from this trial, together with the positive data from our previously reported pivotal Phase III trial in post-surgical bunionectomy patients, completes the efficacy platform for an NDA for IV meloxicam as a new, non-opioid analgesic option for acute moderate-to-severe postoperative pain. Enrollment in the remaining, ongoing safety study is expected to be complete by the end of the first quarter or early second quarter 2017, with an NDA filing expected to follow in summer 2017.”
The secondary endpoints of: SPID6, time to first rescue, number of subjects rescued 0-24 hours, number of subjects rescued 0-48 hours, time to meaningful pain relief, percent of subjects ≥30% improved at 6 hours, percent of subjects ≥50% improved at 6 or 24 hours, and Patient Global Assessment of pain control at 24 hours were not significantly different between treatment groups.
Recro plans to submit additional data from this Phase III clinical trial for presentation at a future scientific conference or in a journal publication.
About Abdominoplasty
Abdominoplasty surgery generally involves the removal of excess fat and skin and, in most cases, restores weakened or separated muscles from the abdominal area. According to the American Society for Aesthetic Plastic Surgery, abdominoplasty is among the top five most common cosmetic surgeries in the U.S., with more than 164,000 performed in 2014. Abdominoplasty surgery typically results in intense postoperative pain.
About IV/IM Meloxicam
Meloxicam is a long-acting, preferential COX-2 inhibitor that possesses anti-inflammatory, analgesic, and antipyretic activities, which are believed to be related to the inhibition of cyclooxygenase (COX) and subsequent reduction in prostaglandin biosynthesis. Meloxicam has been marketed by Boehringer Ingelheim Pharmaceuticals, Inc. since the 1990’s as an oral agent, Mobic®. IV/IM meloxicam was designed using NanoCrystal® platform, a technology that enables enhanced bioavailability of poorly water-soluble drug compounds. Recro acquired IV/IM meloxicam from Alkermes in April 2015.
About Recro Pharma, Inc.
Recro Pharma is a revenue generating specialty pharmaceutical company focused on products for hospital and ambulatory care settings that is currently developing non-opioid products for the treatment of serious acute pain. Recro Pharma is currently developing IV meloxicam, a proprietary, long-acting preferential COX-2 inhibitor for treatment of acute postoperative pain, which has completed four successful Phase II clinical trials in postoperative pain conditions and has reported positive results from its two pivotal Phase III clinical trials in patients following bunionectomy surgery, and in patients following abdominoplasty surgery. An additional development candidate, Dex-IN, a proprietary intranasal formulation of dexmedetomidine, is being pursued for the treatment of peri-procedural pain, and has had a past successful Phase II trial in Bunionectomy. As Recro Pharma’s product candidates are not in the opioid class of drugs, the Company believes its candidates would avoid many of the side effects associated with commonly prescribed opioid therapeutics, such as addiction, constipation and respiratory distress, while maintaining analgesic effect.
Recro Pharma also owns and operates a 97,000 square foot, DEA-licensed facility that manufactures five commercial products and receives manufacturing revenues and royalties associated with the sales of these products.
Cautionary Statement Regarding Forward Looking Statements
Any statements in this press release about future expectations, plans and prospects for the Company, including statements about the Company’s strategy, future operations, clinical development plans and other statements containing the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend,” “expect” 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: results and timing of the clinical trials of injectable meloxicam and Dex-IN; unfavorable new clinical data and additional analyses of existing clinical data; whether results of early clinical trials will be indicative of the results of future trials and whether interim results from a clinical trial will be predictive of the final results of the trial; the ability to obtain and maintain regulatory approval of injectable meloxicam and Dex-IN, and the labeling under any such approval; regulatory developments in the United States and foreign countries; the Company’s ability to raise future financing for continued development; the Company’s ability to pay its debt; the performance of third-party suppliers and manufacturers; the Company’s ability to obtain, maintain and successfully enforce adequate patent and other intellectual property protection; the successful commercialization of injectable meloxicam and Dex-IN and other factors discussed in the Risk Factors set forth in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and in other filings the Company makes with the SEC from time to time. In addition, the forward-looking statements included in this press release represent the Company’s views only as of the date of this press release. Important factors could cause our actual results to differ materially from those indicated or implied by forward-looking statements, and as such we anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
CONTACT:
Media Contact:
Argot Partners
Eliza Schleifstein
(973) 361-1546
eliza@argotpartners.com
Investor Relations Contact:
Argot Partners
Susan Kim/Natalie Wildenradt
(212) 600-1902
susan@argotpartners.com
natalie@argotpartners.com
Recro Pharma, Inc.
Michael Celano
(484) 395 2413
mcelano@recropharma.com
Innovative Company is Advancing Transformational Micro-Robotic Technologies to Treat and Diagnose Various Medical Conditions
HINGHAM, Mass., Nov. 28, 2016 — Microbot Medical Ltd., a medical device company specializing in the research, design and development of transformational micro-robotic medical technologies, today announced that it has closed its merger transaction with StemCells, Inc. (Nasdaq:STEM), pursuant to which Microbot became a wholly-owned subsidiary of StemCells, Inc. StemCells will be renamed Microbot Medical Inc. and will begin trading on NASDAQ under the symbol ‘MBOT’ on November 29, 2016.
“Microbot Medical’s founding principle is to improve the quality of life of millions of patients globally by advancing micro-robotic technologies to perform surgical procedures within the human body, and offer physicians and their patients less invasive and more precise solutions. Our vision, which helped guide the development of multiple products based on our unique ViRob and TipCAT micro-robotic technology platforms, is becoming a reality as our lead product candidates for Cerebrospinal Fluid (CSF) and Gastrointestinal (GI) Disorders continue to progress,” commented Harel Gadot, Chairman and Chief Executive Officer of Microbot Medical.
“The completion of this merger is a significant milestone and enables us to capitalize on Microbot Medical’s unique core capabilities and fund our next generation of micro-robotic medical products. We anticipate FDA submission for these products in the near future, and once commercialized, our robust pipeline is expected to deliver a succession of new product launches and applications driving our short, mid and long term revenue prospects,” concluded Mr. Gadot.
Following the completion of the merger and one–for-nine reverse stock split, there are approximately 39 million shares of common stock outstanding. Under the terms of the merger agreement with StemCells, the shareholders of Microbot Medical, and certain advisors and consultants with respect to the merger, received shares of StemCells common stock representing approximately 95% of the outstanding shares of StemCells calculated on a fully diluted basis. Stockholders of StemCells prior to the merger have retained approximately 5% of the company.
Microbot’s leadership includes Mr. Gadot, a co-founder who previously served as a Worldwide Group Marketing Director at Johnson & Johnson’s surgical device company Ethicon Inc. Additionally, Prof. Moshe Shoham, an inventor of Microbot’s technologies and a co-founder of the Company will remain on the Board of Directors and the company’s Scientific Advisory Board. Professor Shoham also founded Mazor Robotics Ltd. The current members of the Board of Directors of Microbot Medical will serve on the Board of Directors of the company, with the addition of Scott Burell, a seasoned public company executive who currently serves as Chief Financial Officer, Secretary and Treasurer of CombiMatrix Corporation. The Company’s corporate headquarters will be located in Hingham, Massachusetts and Yokneam, Israel.
About Microbot Medical Inc.
Microbot Medical is a medical device company specializing in the design and development of transformational micro-robotic medical technologies. The Company is primarily focused on leveraging its micro-robotic technologies with the goal of allowing more physicians to treat more patients while improving surgical outcomes for patients. The Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and TipCAT, a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures. Further information about Microbot Medical is available at http://www.microbotmedical.com.
Safe Harbor
Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects” and “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.’s filings with the Securities and Exchange Commission. Microbot Medical Inc. disclaims any intent or obligation to update these forward-looking statements.
Investor Contacts:
EVC Group
Michael Polyviou/Doug Sherk - Investors
mpolyviou@evcgroup.com; dsherk@evcgroup.com
212-850-6020; 415-652-9100
LAVAL, QUÉBEC–(Nov. 28, 2016) – Acasti Pharma Inc. (NASDAQ:ACST)(TSX VENTURE:ACST) today announced that Linda O’Keefe has been named chief financial officer. Ms. O’Keefe brings to Acasti over 30 years of financial experience in the life sciences, manufacturing and business service sectors. As part of the company’s strategy to operate independently of parent company Neptune Technologies & Bioressources Inc., Mario Paradis has resigned as chief financial officer from Acasti to focus solely on his role as vice president and chief financial officer of Neptune.
“We appreciate Mario’s commitment to Acasti and wish him all the best as he dedicates his time to serving as Neptune’s chief financial officer,” said Jan D’Alvise, president and CEO of Acasti. “Linda joins us as an accomplished individual with significant financial experience in the life sciences industry, and a proven track record of overseeing finance and accounting and building value at emerging biotech companies. Linda will be an asset to Acasti as we execute our drug development and commercialization strategy for CaPre® with financial discipline and compliance.”
Ms. O’Keefe has worked with both public and private biotechnology, diagnostics, medical devices and healthcare services firms, and also in other private equity-financed markets, including business services, education and technology. Prior to joining Acasti, Ms. O’Keefe consulted with various firms after serving as chief financial officer and executive-in-residence for Gryphon Investors, a San Francisco-based private equity firm. At Gryphon Investors, she led fundraising, limited partner relations, risk management and advised portfolio company management teams on growth, financing and back office strategies. In addition, Ms. O’Keefe provided M&A and integration support, established and led audit committees, and supported the expansion of teams and systems to meet the needs of growing companies. Ms. O’Keefe also served as chief financial officer of Delphi Ventures, a healthcare-focused venture capital firm, and Elevate Ventures; as vice president of finance at Genelabs Technologies and Target Therapeutics; and as controller at Collagen Corporation.
Ms. O’Keefe is an active Certified Public Accountant and Chartered Global Management Accountant in California and Indiana and was formerly an audit senior with Ernst & Young. She is a member of the American Institute of CPAs, the California and Indiana Societies of CPAs, Association for Corporate Growth, Financial Executives International, and Healthcare Financial Management Association. Ms. O’Keefe holds a Bachelor of Science in Business from the University of California, Berkeley.
About Acasti Pharma
Acasti Pharma is a biopharmaceutical innovator advancing a potentially best-in-class cardiovascular drug, CaPre, for the treatment of hypertriglyceridemia, a chronic condition affecting an estimated one third of the U.S. population. The company’s strategy is to initially develop and commercialize CaPre for the 3 to 4 million patients in the U.S. with severe hypertriglyceridemia. Since its founding in 2008, Acasti Pharma has focused on addressing a critical market need for an effective, safe and well-absorbing omega-3 therapeutic that can make a positive impact on the major lipids associated with cardiovascular disease risk. For more information, visit www.acastipharma.com.
Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute “forward looking statements” within the meaning of the U.S. securities laws and Canadian securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of Acasti to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “will,” or “plans” to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement and the “Cautionary Note Regarding Forward-Looking Information” section contained in Acasti’s latest Annual Information Form, which also forms part of Acasti’s latest annual report on Form 20-F, and which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml and on the investor section of Acasti’s website at acastipharma.com (the “AIF”). All forward-looking statements in this press release are made as of the date of this press release. Acasti does not undertake to update any such forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Acasti’s public securities filings with the Securities and Exchange Commission and the Canadian securities commissions. Additional information about these assumptions and risks and uncertainties is contained in the AIF under “Risk Factors.”
Neither NASDAQ, the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Acasti Contact:
Jan D’Alvise
Chief Executive Officer
450-686-4555
info@acastipharma.com
www.acastipharma.com
Media & Investor Contact:
Jessica Dyas
Canale Communications
619-849-5385
jessica@canalecomm.com
CARLSBAD, CA / November 28, 2016 / NTN Buzztime, Inc. (NYSE MKT: NTN), announced it plans to present at the 9th Annual LD Micro Main Event on Wednesday, December 7th at the Luxe Sunset Boulevard Hotel in Los Angeles.
CEO Ram Krishan is scheduled to present at 5:00 pm PT. Mr. Krishnan and CFO Allen Wolff will be available for one-on-one meetings throughout the day. Interested investors should contact their LD Micro representative or Kirsten Chapman of LHA Investor Relations at Buzztime@lhai.com.
A webcast of the management’s presentation will be available live and via replay for a period of 90 days in the investor section of the company’s website.
The LD Micro Main Event is the largest independent conference for small/microcap companies and will feature 240 presenting names.
View NTN Buzztime’s profile here: http://www.ldmicro.com/profile/NTN
News Compliments of Accesswire
About NTN Buzztime
Buzztime (NYSE MKT: NTN) delivers interactive entertainment and innovative dining technology to bars and restaurants in North America. Venues license Buzztime’s customizable solution to differentiate themselves via competitive fun by offering guests trivia, card, sports and arcade games, nationwide competitions, personalized menus, and self-service dining features. Buzztime’s platform improves operating efficiencies, creates connections among the players and venues, and amplifies guests’ positive experiences. Founded in 1984, Buzztime has accumulated over 9 million player registrations and over 115 million games were played in 2015 alone. For more information, please visit http://www.buzztime.com or follow us on Facebook or Twitter @buzztime.
About LD Micro
LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event).
In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe.
For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com/events for more information.
Contact:
Kirsten Chapman/Becky Herrick, LHA Investor Relations
Email: buzztime@lhai.com
Phone: 415-433-3777
On track to file investigational new drug (IND) application in late 2017
SEATTLE, Nov. 28, 2016 — PhaseRx, Inc. (NASDAQ: PZRX), a biopharmaceutical company developing mRNA treatments for life-threatening inherited liver diseases in children, today announced that its lead candidate, PRX-OTC, which is being developed for the treatment of ornithine transcarbamylase deficiency (OTCD), has received orphan drug designation by the U.S. Food and Drug Administration (FDA).
OTCD is a rare liver disorder caused by an inherited single-gene deficiency that results in hyperammonemia (elevated ammonia in the blood), and can lead to irreversible neurological impairment, coma and death. PRX-OTC is an intracellular enzyme replacement therapy (i-ERT) designed to replace the missing or defective enzyme in patients with OTCD, thereby correcting the disease. PRX-OTC has shown therapeutic potential in a preclinical model of OTCD, including lowering of blood ammonia and survival of 100% of treated mice.
“The FDA’s decision to grant PRX-OTC orphan drug designation for OTCD is another important milestone in the development of our lead product candidate, as we prepare to file the IND by the end of 2017 and initiate our clinical trial in 2018,” said Robert W. Overell, Ph.D., president and chief executive officer. “PRX-OTC is the first of three drugs in development using our Hybrid mRNA Technology™, and we believe it has the potential to correct the disease in children, a population that could particularly benefit from treatment for this rare disease. Our team at PhaseRx is driving hard to advance these drugs to help the lives of families affected by this devastating liver disease that causes irreversible brain damage and potentially fatal ammonia toxicity.”
The FDA grants orphan drug designation to investigational drugs and biologics that are intended for the treatment of rare diseases that affect fewer than 200,000 people in the U.S. Orphan drug status is intended to facilitate drug development for rare diseases and may provide several benefits to drug developers, including assistance with clinical study design and drug development, tax credits for qualified clinical trials costs, exemptions from certain FDA application fees, and seven years of market exclusivity upon regulatory product approval.
About OTCD
OTCD is a rare liver disorder typically diagnosed between birth and the age of twelve. It is caused by an inherited single-gene deficiency that results in hyperammonemia (elevated ammonia in the blood), and can lead to devastating consequences, including cumulative and irreversible neurological impairment, coma and death. The only cure for OTCD is a liver transplant. Currently available drug treatments do not correct the disease, and do not eliminate the risk of life-threatening crises.
About PhaseRx
PhaseRx is a biopharmaceutical company dedicated to developing mRNA products for the treatment of children with inherited enzyme deficiencies in the liver using intracellular enzyme replacement therapy (i-ERT). PhaseRx’s initial product development focus is on urea cycle disorders, a group of rare genetic diseases that generally present before the age of twelve and are characterized by the body’s inability to remove ammonia from the blood with potentially devastating consequences for patients. The company’s i-ERT approach is enabled by its proprietary Hybrid mRNA Technology™ platform. PhaseRx is headquartered in Seattle. For more information, please visit www.phaserx.com.
Safe Harbor Statement
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the fact that the company has incurred significant losses since its inception and anticipates that it will continue to incur significant losses for the foreseeable future, (ii) the company being dependent on technologies it has licensed and that it may need to license in the future to develop its products, (iii) the fact that the company will need to raise substantial additional funding to bring its planned products through clinical trials, regulatory approval, manufacturing and marketing and to become profitable, (iv) the fact that the company’s Hybrid mRNA Technology has not previously been tested beyond company preclinical studies, and that mRNA-based drug development is unproven and may never lead to marketable products, (v) the fact that all of the company’s programs are in preclinical studies or early stage research, so the company cannot predict how these results will translate into results in humans, nor can it be certain that any company product candidates will receive regulatory approval or be commercialized, (vi) the fact that development of the company’s product candidates will be expensive and time-consuming, and if the development of company product candidates does not produce favorable results or is delayed, the company may be unable to commercialize these products, (vii) the company expecting to continue to incur significant research and development expenses, which may make it difficult to attain profitability, (viii) the company becoming dependent on collaborative arrangements with third parties for a substantial portion of its revenue, and its development and commercialization activities being delayed or reduced if it fails to initiate, negotiate or maintain successful collaborative arrangements, (ix) the company’s ability to adequately protect its proprietary technology from legal challenges, infringement or alternative technologies and (x) the biotechnology and pharmaceutical industries being intensely competitive, with competition from existing drugs, new treatment methods and new technologies that may prove to be more effective or marketable than the company’s products. More detailed information about the company and the risk factors that may affect the realization of forward looking statements is set forth in the company’s filings with the Securities and Exchange Commission (SEC), including the company’s prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the SEC on May 23, 2016. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Contacts:
Company Contact:
Erin S. Cox
PhaseRx, Inc.
Director of Investor Relations
erin@phaserx.com
206.805.6306
Corporate Communications Contact:
Jason Spark
Canale Communications
Senior Vice President
jason@canalecomm.com
619.849.6005
Investor Contact:
Robert H. Uhl
Westwicke Partners, LLC
Managing Director
robert.uhl@westwicke.com
858.356.5932
NEW YORK, Nov. 23, 2016 — Motif Bio plc (Motif) (NASDAQ:MTFB), (NASDAQ:MTFBW), a clinical stage biopharmaceutical company specializing in developing novel antibiotics, announced today the closing of its initial U.S. public offering of approximately 2.44 million American Depositary Shares (ADSs) with 50% warrant coverage. Each ADS, representing 20 ordinary shares of Motif, and warrant to purchase 0.5 ADSs were sold at a price to the public of $6.98 per ADS and warrant combination. Motif has granted the underwriters a 30-day option to purchase up to an additional 292,618 ADSs and/or 146,309 warrants to cover over-allotments, if any, in the U.S. offering.
Each full ADS warrant has a per ADS exercise price of $8.03. The ADS warrants are exercisable immediately and have a term of five years. The ADSs and ADS warrants are listed on The NASDAQ Capital Market under the symbols “MTFB” and “MTFBW,” respectively.
H.C. Wainwright & Co., LLC acted as the sole book-running manager for the offering.
Motif also closed its concurrent placement in Europe of approximately 22.9 million ordinary shares with 50% warrant coverage. Each ordinary share and warrant to purchase 0.5 of an ordinary share were sold at a price to the public of 28 pence per ordinary share and warrant combination. Each full ordinary share warrant has a per ordinary share exercise price of 32.2 pence. The ordinary share warrants are exercisable immediately and have a term of five years. Motif’s ordinary shares trade on the AIM market of the London Stock Exchange under the ticker symbol “MTFB.”
Zeus Capital Limited, Northland Capital Partners and MC Services acted as the placing agents in the European Placement.
The aggregate gross proceeds to the Company, before deducting underwriting discounts and commissions, placing agent commissions and other estimated offering expenses, were approximately $25 million.
The Company intends to use the net proceeds from these offerings, together with cash and cash equivalents on hand, (i) to fund the expenses to be incurred in conducting the two Phase 3 clinical trials of iclaprim for the treatment of ABSSSI, including the completion of our REVIVE-1 trial; and (ii) for working capital, general and administrative expenses, research and development expenses, and other general corporate purposes.
While the Board believes that, along with the Company’s existing cash and cash equivalents, the net proceeds from the U.S. offering and concurrent European placement will provide sufficient capital to enable the Company to complete the REVIVE-1 trial, the Company will require additional funds to complete the REVIVE-2 trial and plans to raise the additional capital through public or private financings and/or other partnering opportunities.
The registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on November 17, 2016. The U.S. offering is being made only by prospectus. Copies of the final prospectus related to the offering may be obtained from: H.C. Wainwright & Co., 430 Park Avenue, New York, NY 10022, telephone: 212-356-0500, or e-mail: placements@hcwco.com. Investors may also obtain these documents at no cost by visiting the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Motif
Motif Bio is a clinical-stage biopharmaceutical company, engaged in the research and development of novel antibiotics designed to be effective against serious and life-threatening infections in hospitalized patients caused by multi-drug resistant bacteria. Our lead product candidate, iclaprim, is being developed for the treatment of acute bacterial skin and skin structure infections (ABSSSI) and hospital acquired bacterial pneumonia (HABP), including ventilator associated bacterial pneumonia (VABP), which is often caused by MRSA (methicillin resistant Staphylococcus aureus). We are currently enrolling and dosing patients in two global Phase 3 clinical trials (REVIVE-1 and REVIVE-2) with an intravenous formulation of iclaprim, for the treatment of ABSSSI. Data readout for REVIVE-1 is expected in the second quarter of 2017 and REVIVE-2 is on track for data readout in the second half of 2017.
For further information please contact:
Motif Bio plc Contact:
Pete A. Meyers
Chief Financial Officer
212-210-6248
ir@motifbio.com
Investor Contact:
Patricia L. Bank
Westwicke Partners
415-513-1284
patti.bank@westwicke.com
– Conference call and live webcast to be held by Xenetic management team on Wednesday, November 30, 2016 at 8:30 a.m. ET–
Xenetic Biosciences, Inc. (NASDAQ: XBIO) (“Xenetic” or the “Company”), a clinical-stage biopharmaceutical company focused on the discovery, research and development of next-generation biologic drugs and novel orphan oncology therapeutics, announced today that the Company’s management team will host a quarterly update conference call with a live webcast for investors, analysts and other interested parties.
During the conference call, the Company will provide a corporate update and discuss the clinical and regulatory progress for its in-house product candidates, as well as those being developed with Xenetic’s biotechnology and pharmaceutical partners. Xenetic’s current in-house product pipeline includes Virexxa® (sodium cridanimod), which is being evaluated for the treatment of endometrial cancer and triple negative breast cancer, and ErepoXen™, a polysialylated form of erythropoietin (EPO), a hormone created by the kidneys to maintain red blood cell production and prevent anemia. Xenetic is also currently evaluating OncoHist™ for the treatment of acute myeloid leukemia (AML) in refractory patients and refractory non-Hodgkin lymphoma (NHL).
Conference Call and Webcast Information
Xenetic management will host a conference call for investors, analysts and other interested parties on Wednesday, November 30, 2016 at 8:30 a.m. ET. The conference call and live webcast will be accompanied by presentation slides.
To participate in the call, please dial (877) 407-6914 (domestic) or (201) 493-6709 (international). The live webcast and accompanying slides will be available by accessing the IR Calendar in the Investors section of Xenetic’s website (www.xeneticbio.com). A replay of the webcast will be available for 90 days, starting approximately two hours after the presentation ends.
About Xenetic Biosciences
Xenetic Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on discovery, research and development of next-generation biologic drugs and novel oncology therapeutics. Xenetic’s proprietary drug technology platforms include PolyXen®, designed to develop next generation biologic drugs by extending the efficacy, safety and half-life of biologic drugs.
Xenetic’s lead investigational product candidates include ErepoXen™, a polysialylated form of erythropoietin for the treatment of anemia in pre-dialysis patients with chronic kidney disease, and FDA orphan designated oncology therapeutics Virexxa™ and Oncohist™ for the treatment of progesterone receptor negative endometrial cancer and refractory Acute Myeloid Leukemia.
Xenetic is also working together with Shire plc (formerly Baxalta, Baxter Incorporated and Baxter Healthcare) to develop a novel series of polysialylated blood coagulation factors, including a next generation Factor VIII. This collaboration relies on Xenetic’s PolyXen technology to conjugate polysialic acid (“PSA”) to therapeutic blood-clotting factors, with the goal of improving the pharmacokinetic profile and extending the active life of these biologic molecules. Shire is one of the Company’s largest shareholders having invested $10M in the common stock of the Company during 2014. The agreement is an exclusive research, development and license agreement which grants Shire a worldwide, exclusive, royalty-bearing license to Xenetic’s PSA patented and proprietary technology in combination with Shire’s proprietary molecules designed for the treatment of blood and bleeding disorders. Under the agreement, Xenetic may receive regulatory and sales target payments for total potential milestone receipts of up to $100 million plus royalties on sales.
Xenetic is also developing a broad pipeline of clinical candidates for next generation biologics and novel oncology therapeutics in a number of orphan disease indications. For more information, please visit the company’s website at www.xeneticbio.com and connect on Twitter, LinkedIn, Facebook and Google+.
Forward-Looking Statements
This press release contains “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning, including statements regarding expected benefits of NGS cancer panels, the ability to accurately determine the heritable factors increasing the risk of cancer, permitting tailored treatment, screening and prevention of cancer in patients, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in our filings with the Securities and Exchange Commission, as well as the risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and treatments. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
ATHENS, GREECE–(Nov 23, 2016) – Globus Maritime Limited (“Globus” or the “Company”) (NASDAQ: GLBS), a dry bulk shipping company, announced today that Mr. Dimitrios Stratikopoulos has resigned from its Board of Directors due to other recent pressing business commitments with the resignation taking effect immediately. The Board of Directors has appointed Mr. Ioannis Kazantzidis to the Board to replace Mr. Stratikopoulos as an independent Class I, non-executive director effective today. Additionally and on the same day, Mr. Kazantzidis has been also appointed to the Company’s Audit, Remuneration and Nomination Committees.
About Ioannis Kazantzidis: Ioannis Kazantzidis has over 40 years of experience in the Information Technology Banking and Finance sector. During his career he has held executive positions at various levels with HSBC Group abroad mainly focusing in developing and implementing critical financial systems in multiple locations of the Group. Since 2007 he is the major shareholder of Porto Trans Shipping LLC, a shipping, transportation, and logistics company based in the UAE and operating worldwide.
Athanasios Feidakis, the Company’s Chief Executive Officer stated: “We are very pleased to welcome Ioannis as our new Class I, Non Executive Director. We believe that his extensive background in Information Technology coupled with his experience in Banking and Finance will be contributing positively to our Company’s growth. At the same time we would also like to thank Dimitrios Stratikopoulos for his time and dedication to Globus while serving on the Board and we wish him all the best. ”
About Globus Maritime Limited
Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide and presently owns, operates and manages a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. Globus’s subsidiaries own and operate five vessels with a total carrying capacity of 300,571 DWT and a weighted average age of 8.7 years as of November 15, 2016.
Safe Harbor Statement
This communication contains “forward-looking statements” as defined under U.S. federal securities laws. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons specifically as described in the Company’s filings with the Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Globus undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this communication or to reflect the occurrence of unanticipated events. You should, however, review the factors and risks Globus describes in the reports it files from time to time with the Securities and Exchange Commission.
MAROUSSI, ATHENS, GREECE–(Nov 23, 2016) – Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it signed a memorandum of agreement to purchase the M/V Capetan Tassos, a Panamax size drybulk carrier of 75,100 dwt built in 2000 in Japan for approximately $4.4 million. The vessel is expected to be delivered to the Company in January 2017.
The Company also announced that it reached an agreement with a company affiliated with its CEO to draw a $2 million loan to finance working capital needs. Interest on the loan is payable quarterly, and there are no principal repayments until January 2018 when the loan matures. The Company may elect to add the interest to the outstanding principal amount. Under certain limited circumstances, the Company can pay principal and interest in equity, and the loan is convertible in common stock of the Company at the option of the lender at certain times. The agreement was negotiated on an arms-length basis with market terms and is subject to customary legal documentation.
Aristides Pittas, Chairman and CEO of Euroseas commented: “We are very pleased to announce the acquisition of M/V Capetan Tassos as we believe the sector is approaching a turning point after a long period of depressed rates. Furthermore, to facilitate the acquisition and provide additional working capital, we arranged for a short term loan with an affiliated party; the loan was negotiated by an independent committee of our Board of Directors and carries what we believe to be better-than market terms.”
After the acquisition of M/V Capetan Tassos, the Company’s fleet will consist of 13 vessels, including four Panamax drybulk carriers, one Handymax drybulk carrier, one Kamsarmax drybulk carrier, and seven Feeder containerships.
About Euroseas Ltd.: Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA since January 31, 2007.
Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company and Eurobulk (FE) Ltd. Inc., also an affiliated ship management company, which are responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.
Including M/V Capetan Tassos, the Company has a fleet of 13 vessels, including 4 Panamax drybulk carriers, 1 Handymax drybulk carrier, 1 Kamsarmax drybulk carrier, and 7 Feeder containerships. Euroseas 6 drybulk carriers have a total cargo capacity of 426,372 dwt, its 7 containerships have a cargo capacity of 11,525 teu. The Company has also signed contracts for the construction of one Kamsarmax (82,000 dwt) fuel efficient drybulk carrier. Including the new-building, the total cargo capacity of the Company’s drybulk vessels will be 508,372 dwt.
Forward Looking Statement: This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company’s growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels and container ships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Visit our website www.euroseas.gr
Company Contact
Tasos Aslidis
Chief Financial Officer
Euroseas Ltd,
11 Canterbury Lane,
Watchung, NJ 07069
Tel, (908) 301-9091
E-mail: aha@euroseas.gr
Investor Relations / Financial Media
Nicolas Bornozis
President
Capital Link, Inc,
230 Park Avenue, Suite 1536
New York, NY 10169
Tel, (212) 661-7566
E-mail: euroseas@capitallink.com
VirtualInvestorsConferences.com hosts CEOs & CFOs: live questions answered during online roadshow and in virtual trade booths
NEW YORK, Nov. 23, 2016 — PR Newswire and BetterInvesting (NAIC) today announced the agenda for the upcoming VirtualInvestorConferences.com, the evergreen online investor conference series. Individual investors, institutional investors, advisors, and analysts are invited. The show opens on at 9:00 AM ET, with the first live webcast at 9:15 AM ET, on Thursday, December 1.
REGISTER NOW: http://tinyurl.com/1201agenda
Pre-registration is suggested to save time: There is no fee for anyone to log-in, attend the live presentations and ask questions.
December 1 Agenda:
| 9:15 AM ET |
Propanc Health Group CorporationJames Nathanielsz, Chief Financial Officer |
OTCQB: PPCH |
| 10:00 AM ET |
Connecticut Water Service Inc.Eric W. Thornburg, Chairman, President and Chief Executive Officer and David C. Benoit, Senior VP and CFO |
NASDAQ: CTWS |
| 10:45 AM ET |
ICLUBcentralDoug Gerlach, Editor-in-Chief |
Educational Session |
| 11:30 AM ET |
Aytu Bioscience, Inc.Josh Disbrow, Chairman & Chief Executive Officer |
OTCQX: AYTU |
| 12:15 PM ET |
Terra Tech Corp.Derek Peterson, President and CEO |
OTCQX: TRTC |
| 1:00 PM ET |
OurPet’s CompanyScott Mendes, Chief Financial Officer and Dean Tsengas, Chief Operating Officer |
OTCQX: OPCO |
| 1:45 PM ET |
Galena Biopharma Inc.Mark W. Schwartz, PhD, President and CEO |
NASDAQ: GALE |
Learn More about the Event: To facilitate investor relations scheduling and budgeting, more information, including a full calendar of VirtualInvestorConferences.com dates is available at: http://virtualinvestorconferences.com
About VirtualInvestorConferences.com
VirtualInvestorConferences.com, created by BetterInvesting (NAIC) and PRNewswire, has been the only monthly virtual investor conference series that provides an interactive forum for presenting companies to meet directly with investors using a graphically-enhanced online platform.
Designed to replicate the look and feel of location-based investor conferences, Virtual Investor Conferences unites PR Newswire’s leading-edge online conferencing and investor communications capabilities with BetterInvesting’s extensive retail investor audience network.
Issuer Direct’s Accesswire News Platform to Sponsor LD Micro’s 9th Annual Main Event
MORRISVILLE, NC / November 22, 2016 / Issuer Direct Corporation (ISDR), (the “Company”), a market leader and innovator of disclosure management solutions and targeted communications today announced that its Founder and Chief Executive Officer, Brian R. Balbirnie will be presenting at the 9th Annual LD Micro Main Event on Tuesday, December 6th at 9:00 AM PST / 12:00 PM EST at the Luxe Sunset Boulevard Hotel in Los Angeles, CA.
The LD Micro Main Event is the largest independent conference for small/microcap companies and will feature 240 presenting names.
View Issuer Direct’s profile here: http://www.ldmicro.com/profile/ISDR
News Compliments of Accesswire
About Issuer Direct Corporation
Issuer Direct® is a disclosure management and targeted communications company. Our integrated platform provides tools, technologies and services that enable our clients to disclose and disseminate information through our network. With a focus on corporate issuers, the Company alleviates the complexity of maintaining compliance with its integrated portfolio of products and services that enhance companies’ ability to efficiently produce and distribute their financial and business communications both online and in print.
About LD Micro
LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event).
In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe.
For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com/events for more information.
Learn more about Issuer Direct today: Investor Tear Sheet.
Forward-Looking Statements. This press 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 (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company’s forward-looking statements, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 including but not limited to the discussion under “Risk Factors” therein, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov/.
For Further Information:
Issuer Direct Corporation
Brian R. Balbirnie
(919)-481-4000
brian.balbirnie@issuerdirect.com
Hayden IR
Brett Maas
(646)-536-7331
brett@haydenir.com
Hayden IR
James Carbonara
(646)-755-7412
james@haydenir.com
SAN DIEGO, Nov. 22, 2016 — Fate Therapeutics, Inc. (NASDAQ:FATE), a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorders, today announced that it has entered into a definitive securities purchase agreement with certain institutional and other accredited investors. The private placement is being led by Redmile Group LLC with participation from BVF Partners L.P., EcoR1 Capital LLC and Franklin Advisers, Inc. as well as certain individual investors including members of the Company’s Board of Directors. Gross proceeds from the private placement are expected to be approximately $57 million dollars.
Redmile has agreed to purchase 2,819,549 shares of non-voting Class A Preferred Stock at $13.30 per share, each of which is convertible into five shares of common stock upon certain conditions. The remaining investors have agreed to purchase 7,236,837 shares of common stock at $2.66 per share. The purchase and sale is expected to close on or about November 23, 2016, subject to customary closing conditions.
The Company expects to use the proceeds from the transaction primarily to advance its pipeline of programmed cellular immunotherapies and for general corporate purposes. Leerink Partners LLC acted as the exclusive placement agent to the Company in connection with the private financing.
The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the Securities Act), or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. As part of the transaction, the Company has agreed to file a registration statement with the Securities and Exchange Commission for purposes of registering the resale by the investors not affiliated with the Company of the shares of common stock purchased by such investors.
This press release is issued pursuant to Rule 135(c) under the Securities Act of 1933, as amended, and does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state. Any offering of the securities under the resale registration statement will only be by means of a prospectus.
About Fate Therapeutics, Inc.
Fate Therapeutics is a biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorders. The Company’s hematopoietic cell therapy pipeline is comprised of NK- and T-cell immuno-oncology programs, including off-the-shelf product candidates derived from engineered induced pluripotent cells, and immuno-regulatory programs, including product candidates to prevent life-threatening complications in patients undergoing hematopoietic cell transplantation and to promote immune tolerance in patients with autoimmune disease. Its adoptive cell therapy programs are based on the Company’s novel ex vivo cell programming approach, which it applies to modulate the therapeutic function and direct the fate of immune cells. Fate Therapeutics is headquartered in San Diego, CA. For more information, please visit www.fatetherapeutics.com.
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing of the consummation of the private placement and the expected receipt and use of proceeds from the private placement. These and any other forward-looking statements in this release are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that the closing conditions for the private placement transaction are not met by the expected closing date or at all, the risk that the resale registration statement covering the common stock is not timely filed by the Company or declared effective by the Securities and Exchange Commission (SEC), the risk that the Company may not use the proceeds from the private placement as currently expected, the risk that the Company may cease or delay preclinical or clinical development activities for any of its existing or future product candidates for a variety of reasons (including difficulties or delays in patient enrollment in current and planned clinical trials), and the risk that the Company may not be able to raise the additional funding required for its business and product development plans. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the risks and uncertainties detailed in the Company’s periodic filings with the Securities and Exchange Commission, including but not limited to the Company’s most recently filed periodic report, and from time to time the Company’s other investor communications. Fate Therapeutics is providing the information in this release as of this date and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
Contact:
Christina Tartaglia
Stern Investor Relations, Inc.
212.362.1200
christina@sternir.com
FUZHOU, China, Nov. 22, 2016 —
The Company rebuilt approximately 20% of its production capacity
Pingtan Marine Enterprise Ltd. (Nasdaq: PME) (“Pingtan,” or the “Company”), a global fishing company based in the People’s Republic of China (PRC), today announced that thirteen of its fishing vessels have arrived in the harvesting areas of Indo-Pacific waters.
These thirteen fishing vessels were placed in Indo-Pacific waters according to the Company’s previously announced operating plan in August 2016, and have recently arrived in their fishing designation in Indo-Pacific Waters to be put into operation. The Company expects to begin recognizing sales from this expansion in the current fourth quarter of 2016.
Pingtan currently owns one hundred thirty five fishing vessels, twelve of which are operating in the Bay of Bengal in India along with these thirteen vessels in Indo-Pacific Waters. As of today, the Company’s twenty five fishing vessels are fully operating and have rebuilt approximately 20% of its production capacity. In accordance with the Company’s previous results of 2014, each of its fishing vessels can generate annual revenue of approximately $3 million USD with annual net income of approximately $800,000 to $1 million.
Mr. Xinrong Zhuo, Chairman and CEO of the Company, commented, “We are very pleased to begin fishing activities in the bountiful Indo-Pacific Waters, and utilizing our assets and advantages to meet the continued demand in China. We remain dedicated to actively seeking new water territories where we can expand, increasing our production and provide high quality fishing products to our customers.”
About Pingtan
Pingtan is a global fishing company engaging in ocean fishing through its wholly-owned subsidiary, Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd., or Pingtan Fishing.
Business Risks and Forward-Looking Statements
This press release may contain forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934, including statements that the Company expects to begin recognizing sales from the expansion of its fishing operations in the Indo-Pacific Waters in the fourth quarter of 2016. In addition, please refer to the risk factors contained in Pingtan’s SEC filings available at www.sec.gov, including Pingtan’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Definitive Proxy Statement. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Pingtan undertakes no obligation to update or revise any forward-looking statements for any reason.
CONTACT:
Roy Yu
Chief Financial Officer
Pingtan Marine Enterprise Ltd.
Tel: +86 591 87271753
ryu@ptmarine.net
INVESTOR RELATIONS
The Equity Group Inc.
Adam Prior, Senior Vice President
Tel: (212) 836-9606
aprior@equityny.com
In China
Katherine Yao, Senior Associate
Tel: +86 10 6587 6435
kyao@equityny.com
—Combined company renamed KalVista Pharmaceuticals, Inc., listed on Nasdaq with ticker “KALV” —
—Continued focus on development of protease inhibitors with multiple molecules for oral treatment of hereditary angioedema (HAE) in the clinic in 2017—
—Appoints Benjamin L. Palleiko as Chief Financial Officer—
CAMBRIDGE, Mass. and PALO ALTO, Calif., Nov. 22, 2016 — KalVista Pharmaceuticals, Inc. (NASDAQ:KALV), a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of small molecule protease inhibitors, today announced the closing of the previously announced merger with Carbylan Therapeutics, Inc. As a result of the completion of this transaction, Carbylan changed its name to KalVista Pharmaceuticals, Inc. The Company will commence trading on November 22, 2016 on the NASDAQ Stock Market under the symbol “KALV”.
KalVista is now funded with more than $38 million to support its portfolio of drug development programs, initially focused on oral plasma kallikrein treatments for hereditary angioedema (HAE) and diabetic macular edema (DME). KalVista is developing a portfolio of drugs for HAE, with the first oral HAE candidate, KVD818, having commenced a Phase I clinical trial in the third quarter of 2016. Additional HAE candidates are planned to begin clinical trials in 2017 and beyond. KalVista’s objective is to advance multiple oral drug candidates through Phase I, first-in-human studies in order to select those with the potential to deliver best-in-class status for further development. KalVista is also developing KVD001, an intravitreally-delivered therapy for DME. This program has completed a Phase I clinical trial in DME patients and is expected to progress to Phase II clinical development in 2017.
In conjunction with the closing, KalVista welcomed Benjamin L. Palleiko as the Chief Financial Officer of KalVista. Mr. Palleiko has over twenty years of experience in the industry, as both a senior life sciences investment banker and Chief Financial Officer of several public and private life sciences companies. He has raised more than $2 billion in capital and completed over 50 transactions in his business career. Mr. Palleiko holds a MBA in Finance and a MA in International Relations from the University of Chicago, and a BA in Quantitative Economics from Tufts University. Prior to graduate school, he served in the U.S. Navy as a Naval Aviator flying carrier-based jet aircraft.
“The transition of KalVista to the public markets is an important milestone in the strategic development of the Company as we advance our pipeline of novel serine protease therapeutics,” said Andrew Crockett, KalVista’s Chief Executive Officer. “With the capital raised in this transaction and an experienced leadership team, KalVista is even better positioned to accelerate our clinical programs to bring new treatment options to patients with hereditary angioedema and diabetic macular edema. We also are particularly pleased that Ben Palleiko has chosen to join us as CFO at this time, as his deep background and skills will help us as we enter the next phase of growing shareholder value as a public company.”
The executive leadership of the new Company is comprised of members of the KalVista management team, with members of the Carbylan team departing the Company. The management team is initially comprised of Mr. Crockett as Chief Executive Officer; Christopher Yea, Ph.D. as Chief Development Officer; and Mr. Palleiko as Chief Financial Officer. The board of directors is comprised of seven members, consisting of five members designated by KalVista: Richard Aldrich, who will serve as Chairman, Joshua Resnick, M.D., Rajeev Shah, Edward W. Unkart and Mr. Crockett; and two members designated by Carbylan, Albert Cha, M.D., Ph.D, and Arnold L. Oronsky, Ph.D. The Company has offices in Cambridge, MA and Porton Down, U.K.
About Hereditary Angioedema (HAE)
Hereditary angioedema (HAE) is a rare and potentially life-threatening genetic condition that occurs in fewer than 1 in 10,000 people. HAE patients are susceptible to sudden and prolonged attacks of edema, which often occur in the hands, feet, face, gastrointestinal tract, and airway. Attacks can result in severe swelling and pain, airway blockage, and nausea.
About Diabetic Macular Edema (DME)
Diabetic Macular Edema (DME) is a sight-threatening disease caused by disruption of the blood/retinal barrier leading to the accumulation of fluid in the macula and vision loss. DME affects an estimated 16% of diabetic patients within their lifetime, according to a 2012 study published in Diabetes Care. Approximately 900,000 patients in the United States alone have active DME and are at serious risk of vision loss, according to a 2013 study.
About KalVista Pharmaceuticals, Inc.
KalVista Pharmaceuticals, Inc. is a pharmaceuticals company focused on the discovery, development, and commercialization of small molecule protease inhibitors for diseases with significant unmet need. The initial focus is on inhibitors of plasma kallikrein, which is an important component of the body’s inflammatory response, and which in excess can lead to increased vascular permeability, edema and inflammation. KalVista has developed a proprietary portfolio of novel, small molecule plasma kallikrein inhibitors initially targeting hereditary angioedema (HAE) and diabetic macular edema (DME). The Company has created a structurally diverse portfolio of oral plasma kallikrein inhibitors from which it plans to select multiple drug candidates to advance into clinical trials for HAE. In August 2016, KalVista commenced a Phase I first-in-human clinical trial for KVD818, the first of its orally delivered molecules for the treatment of HAE. KalVista’s most advanced program, an intravitreally administered plasma kallikrein inhibitor known as KVD001, has successfully completed its first‑in‑human study in patients with DME and is being prepared for Phase 2 studies in 2017.
For more information, please visit www.KalVista.com.
Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Examples of forward-looking statements include, among others, future clinical trial timing and results. Further information on potential risk factors that could affect our business and its financial results are detailed in the definitive proxy statement filed on October 28, 2016, our most recent Quarterly Report on Form 10-Q, and other reports as filed from time to time with the Securities and Exchange Commission. 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:
KalVista Pharmaceuticals
Leah Monteiro, Corporate Communications
857-241-3897
lmm@KalVista.com
Payment gateway processing agreement with leading UAE financial institution expands Net Element’s processing capabilities in the region
MIAMI, FL–(Marketwired – Nov 22, 2016) – Net Element, Inc. (NASDAQ: NETE) (“Net Element” ), a provider of global mobile payment technology solutions and value-added transactional services, today announces that Net Element FZ, LLC has signed an agreement with Mashreqbank, a leading financial institution in the United Arab Emirates’ (UAE). The agreement includes transaction clearing, draft capture and settlement of bankcard transactions in multiple currencies, as well as full integration with Net Element’s Internet Payment Gateway and risk management services.
The Payment Gateway Processing agreement with Mashreqbank, known as one of the most innovative banks in the Gulf Region, allows Net Element to process transactions for merchants in the UAE.
“We are excited about our partnership with the award-winning Mashreqbank, UAE’s leading financial institution,” comments Suresh Menon, CEO & managing director of Net Element FZ, LLC UAE. “Under this agreement, Net Element will launch its merchant acquiring in the UAE as part of its government payment processing solutions offering.”
“At Mashreq we continue to look at new and innovative financial solutions for our partners and customers. In line with our efforts, our partnership with Net Element FZ, LLC Dubai is yet another step in our endeavor as we contribute to Dubai’s vision toward Smart City,” commented Pankaj Kundra, Head of Payments for Mashreqbank.
About Mashreq
Mashreq is the oldest bank in the UAE with an extensive branch network across the Emirates. Mashreq is also present in 11 countries outside UAE with 21 overseas branches and offices spread across Europe, USA, Asia and Africa providing a comprehensive range of international financial services. Established in 1967, Mashreq has established itself as a market leader by delivering award-winning customer experiences and innovative thinking across its financial products and services. Mashreq’s various banking divisions cater to its own unique specialisms and expertise and include: Corporate Banking, Retail Banking, International Banking, and Innovative Treasury Services. The bank also allows for customers to experience Sharia’h Compliant financial banking solutions. As a leading financial institution, Mashreq is committed to supporting every community it serves. In the UAE, the bank pays particular attention to recruiting, training, and developing UAE National employees. Mashreq is the only financial institution in the UAE to have been awarded the CSR Label by Dhabi Chamber for five years in a row. Further information is available at www.mashreqbank.com.
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the US and selected emerging markets. In the US, we are growing transactional revenue with innovative services including our cloud based, restaurant point-of-sale solution Aptito. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Further information is available at www.netelement.com.
Forward-Looking Statements
This press 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. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, whether the relationship with Mashreqbankwill be beneficial to the Company, whether Net Element can secure any additional financing and if such additional financing will be adequate to meet the Company’s objectives. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Net Element’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element’s ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element’s ability to successfully expand in existing markets and enter new markets; (iv) Net Element’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element’s business; (viii) changes in government licensing and regulation that may adversely affect Net Element’s business; (ix) the risk that changes in consumer behavior could adversely affect Net Element’s business; (x) Net Element’s ability to protect its intellectual property; (xi) local, industry and general business and economic conditions; (xii) adverse effects of potentially deteriorating U.S.-Russia relations, including, without limitation, over a conflict related to Ukraine, including a risk of further U.S. government sanctions or other legal restrictions on U.S. businesses doing business in Russia. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K and the subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element with the Securities and Exchange Commission. Net Element anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
Major General (Ret.) Amos Malka, Amnon Dick, and Shalom Singer Will Bring Experience and Proven Strategic Counsel to Ability’s Board of Directors
TEL AVIV, Israel, Nov. 21, 2016 — Ability, Inc. (NASDAQ/TASE: ABIL), a leading provider of innovative tactical communications intelligence solutions, today announced that three highly experienced directors have been nominated for election to its Board of Directors at its upcoming annual meeting scheduled to be held on December 19, 2016.
Anatoly Hurgin, the Company’s Chief Executive Officer, stated, “As Ability continues to evolve, increasingly focused on our disruptive ULIN technology, we believe this newly reconstituted Board with its proven experience and deep industry connections is best equipped to help us deliver on Ability’s potential and enhance the Company’s sustainable, long-term value.” Mr. Hurgin continued, “That such experienced and respected directors have agreed to join Ability’s Board is a clear vote of confidence in the Company. I am certain that the seasoned professionals we have nominated to the Board will help guide the Company by providing unique solutions to help governments and law enforcement agencies overcome challenges related to crime and terrorism. On behalf of the Company, I thank Benjamin Gordon, Mitchell I. Gordon and Derek Zissman for their service to the Company.”
The new nominees for election as directors are:
- Maj. Gen. (Ret.) Amos Malka, the former Head of the Israeli Defense Intelligence and Commander of the Israel Defense Forces Ground Forces Command, is a preeminent expert in national strategy, intelligence, homeland security, counter terrorism and cyber security. Mr. Malka currently serves as the chairman of the board of directors of TAT Technologies Ltd., whose shares are listed on both the Tel Aviv Stock Exchange (“TASE”) and NASDAQ. Mr. Malka is the founder and chairman of Nyotron Information Security Ltd., a privately-held cyber security provider based in Israel and Silicon Valley. Mr. Malka is also the founder and owner of Spire Security Solutions, a strategic consulting firm. Mr. Malka holds a B.A. in history from Tel Aviv University and is a graduate of the IDF Staff and Command College and the Israel National Defense Academy. Upon his election to Ability’s Board of Directors, Mr. Malka is expected to serve on the Board’s Compensation Committee.
- Amnon Dick currently serves as a member of each of the board of directors, corporate governance committee and remuneration committee of Bank Hapoalim, Israel’s largest bank. From 2003 to 2005, Mr. Dick served as the chief executive officer of Bezeq The Israel Telecommunications Corp. Ltd. (“Bezeq”), Israel’s largest telecommunications provider. In his role as CEO, Mr. Dick led the formerly state-owned Bezeq through one of the most important and complex privatizations in the history of the Israeli economy. From 1994 to 2003, Mr. Dick served on each of the board of directors and the audit committee of Israel Chemicals Ltd., a multinational chemicals manufacturer. From 1997 to 2001, Mr. Dick served as the chairman and Chief Executive Officer of Elite International, a major player in the global coffee industry (today part of Strauss Group Ltd.). From 1993 to 1995, Mr. Dick served as the Chief Executive Officer of Jafora-Tabori Ltd., a leading beverage company. Mr. Dick started his career at Coca-Cola Israel, where he held several senior leadership positions. Mr. Dick received his undergraduate degree in economics from Tel-Aviv University and an M.B.A. from Tel-Aviv University. Upon his election to Ability’s Board of Directors, Mr. Dick is expected to serve as its Chairman. Mr. Dick is also expected to serve on each of the Audit and Compensation Committees of the Board.
- Shalom Singer currently serves as the Managing Partner of Singer Meister Ltd., private market advisors. Mr. Singer is also the chairman and has 26% shareholding in Robert Marcus Loss Adjusters Ltd., one of the largest loss adjusters firms in Israel. Mr. Singer also serves as a member of each of the board of directors, the audit committee and the financial statements committee of TASE-listed Hadera Paper Ltd., a leading manufacturer of paper and paper-related products in Israel. From 2006 to 2008, Mr. Singer served as the chairman of the investment committee of profit participating policies at Clal Insurance Company Ltd., one of the leading insurance and pension companies in Israel. Between 2003 and 2005, Mr. Singer served as the chairman of the board of directors and chief executive officer of Kagam Central Pension Fund. Between 1999 and 2002 Mr. Singer served as executive vice chairman of the board of directors of Elbit Imaging Ltd., whose shares are listed on NASDAQ and the TASE. Mr. Singer has also served on each of the board of directors and financial statements committees of the following TASE-listed companies: Scope-Ex Metal Trading & Technical Services Ltd. (2006-2015); Scailex Corporation Ltd. (2006-2014), where he was also a member of the audit committee; and Israel Petroleum Enterprises Ltd. (2005-2015), where he was also a member of the audit committee. From 1991 to 1992, Mr. Singer served as the Director General of the Israeli Ministry of Finance. Between 1986 and 1990, Mr. Singer also served as chief executive officer of First International Bank of Israel, a TASE-listed company and the fifth largest bank in Israel. Mr. Singer also served as the chairman of the Association of Banks in Israel and was a member of the Bank of Israel Advisory Committee for Banking Affairs and the Government-held Companies Authority Advisory Committee. Mr. Singer also represented Israel’s Ministry of Finance in his service on the board of directors of Israel Chemicals Ltd. Mr. Singer is a graduate of the Faculty of Accountancy at Haifa University. Upon his election to Ability’s Board of Directors, Mr. Singer is expected to serve as the chairman of the Board’s Compensation Committee and as a member of each of the Audit and Nominating Committees.
The new nominees are expected to replace current Board members Benjamin Gordon, Mitchell I. Gordon and Derek Zissman, who will serve out the end of their terms until the upcoming annual meeting. Following their election to the Board of Directors at the Company’s upcoming annual meeting, Messrs. Malka, Dick and Singer will join Anatoly Hurgin, the Chief Executive Officer and Chairman of Ability’s Board of Directors, Alexander Aurovsky, Ability’s Chief Technology Officer, Efraim Halevy, and Meir Moshe on Ability’s Board of Directors. Messrs. Hurgin and Aurovsky have indicated that they intend to vote their shares, representing approximately 65% of the Company’s issued and outstanding common stock, for the election of Messrs. Malka, Dick and Singer as well as the other director nominees to the Board. Following the Company’s annual meeting, Ability’s Board of Directors will remain at seven members, five of whom will qualify as “independent” pursuant to the NASDAQ listing rules.
About Ability, Inc.
Ability, Inc. (“Ability” or the “Company”) is the sole owner of Ability Computer & Software Industries Ltd., following the December 2015 closing of the business combination between Cambridge Capital Acquisition Corporation, Ability Computer & Software Industries Ltd. and Ability.
Headquartered in Tel Aviv, Israel, Ability Computer & Software Industries Ltd. was founded in 1994. Ability provides advanced interception, geolocation and cyber intelligence tools used by security and intelligence agencies, military forces, law enforcement and homeland security agencies worldwide. Governments and government agencies in over 50 countries have used Ability’s cutting-edge technology. Ability offers a broad range of lawful interception, decryption, cyber and geolocation solutions for cellular and satellite communication, including ULIN, or Ultimate Interception, the first-to-market SaaS strategic interception system with voice, text and geolocation capabilities without geographic limitation. State-of-the-art technology underpins Ability’s scalable offerings, which can be tactical-and-portable, or strategic-and-fixed, depending on its customers’ needs. Additional information regarding Ability may be found at http://www.interceptors.com.
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements.” Words such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, as well as statements in the future tense, often signify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and may not accurately indicate when such performance or results will be achieved. Forward-looking statements are based on information available to the Company when such statements are made or management’s good faith belief with respect to future events as of the time such statements are made, and 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. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Investor Relations Contacts:
Hayden/ MS-IR LLC
Miri Segal
Tel: +917-607-8654
E-mail: msegal@ms-ir.com
or
Brett Maas
Tel: 646-536-7331
brett@haydenir.com
Three-Year, $325,000 Contract Reflects Success of Specialized Cloud Solutions for the Higher Education Vertical Market
NEW YORK, NY–(November 21, 2016) – Fusion (NASDAQ: FSNN), a leading provider of cloud services, today announced that it has been selected to provide its single source integrated cloud solutions to support the growth requirements of a leading private university located on the East Coast. The university reviewed a number of premise-based as well as cloud-based options and chose Fusion for its cost-effective cloud voice, contact center, connectivity and business continuity solutions. The three-year, $325,000 contract reflects the success of Fusion’s targeted cloud solutions for the education vertical market.
The university cited the benefits of the Fusion cloud for its selection, including the elimination of up-front capital costs and end of life technology concerns. It further recognized the cost efficiencies of a reduction in space, IT support staff and ongoing maintenance costs made possible by the cloud, combined with an advanced feature set with business continuity built in. The university acknowledged the advantages of Fusion’s single source solution, with cloud connectivity ensuring quality of service and the end of finger pointing with one contract, one contact and one invoice.
“We appreciate the opportunity to support the university with our award-winning communications solution, including collaboration and contact center functionality, as well as connectivity over our robust, diverse national network, with automatic failover ensuring continuity of service,” said Russell P. Markman, Fusion’s President of Business Services. “The university is committed to continuous innovation and leveraging emerging technologies in support of its mission to prepare generations of students for a future as change agents. That is why as a technology company, we are especially pleased to have earned this respected institution’s business.”
About Fusion
Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud communications, contact center, cloud connectivity, and cloud computing. Fusion’s innovative, yet proven cloud solutions lower our customers’ cost of ownership, and deliver new levels of security, flexibility, scalability and speed of deployment. For more information, please visit www.fusionconnect.com.
MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature projection display and sensing technology, today announced that it has signed a license agreement for its PicoP® scanning technology with a Taiwanese ODM.
MicroVision and the ODM have signed a patent license agreement under which the ODM has a license to make and sell Laser Beam Scanning (LBS) engines. The engines the ODM is making incorporate components it is purchasing from third parties. Under the agreement, MicroVision would receive a royalty payment from the ODM for each LBS engine the ODM sells. This agreement is related to MicroVision’s recently announced co-marketing relationship with STMicroelectronics.
“We are pleased to enter into a patent license with this ODM for our LBS technology,” said Bharath Rajagopalan, Vice President of Business Development and Marketing at MicroVision. “We believe this agreement demonstrates the value of MicroVision’s LBS intellectual property and provides for new opportunities and potential products for LBS technology in the market.”
About MicroVision
MicroVision is the creator of PicoP® scanning technology, an ultra-miniature laser projection and sensing solution based on the laser beam scanning methodology pioneered by the company. MicroVision’s platform approach for this advanced display and sensing solution means that it can be adapted to a wide array of applications and form factors. It is an advanced solution for a rapidly evolving, always-on world. Extensive research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision’s IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and has been included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Wash.
For more information, visit the company’s website at www.microvision.com, on Facebook at www.facebook.com/MicroVisionInc or follow MicroVision on Twitter at @MicroVision.
MicroVision and PicoP are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.
Forward-Looking Statements
Certain statements contained in this release, including those relating to royalty payments, future products and product applications are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the company’s forward-looking statements include the following: our ability to raise additional capital when needed; products incorporating our PicoP® scanning technology may not achieve market acceptance, commercial partners may not perform under agreements as anticipated, we may be unsuccessful in identifying parties interested in paying any amounts or amounts we deem desirable for the purchase or license of IP assets, our or our customers failure to perform under open purchase orders; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims; and other risk factors identified from time to time in the company’s SEC reports, including the company’s Annual Report on Form 10-K filed with the SEC. Except as expressly required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
Long-Term Survival Data Reported from Phase 1 ICT-107 Trial
LOS ANGELES, Nov. 21, 2016 — ImmunoCellular Therapeutics, Ltd. (“ImmunoCellular”) (NYSE MKT:IMUC) announced the presentation of updated immune monitoring data from the phase 2 trial of ICT-107 in patients with newly diagnosed glioblastoma. Also presented were updated long-term survival data from the phase 1 trial of ICT-107. ICT-107 is a dendritic cell-based immunotherapy targeting multiple tumor-associated antigens on glioblastoma stem cells. ICT-107 is currently being tested in a phase 3 registration trial in patients with newly diagnosed glioblastoma. The updated phase 1 and phase 2 data were presented in two oral sessions on Friday, November 18th, at the 21st Annual Scientific Meeting and Education Day of the Society for Neuro-Oncology, held in Scottsdale, AZ.
The ICT-107 phase 2 trial was a randomized, double-blind, placebo-controlled phase 2 study of the safety and efficacy of ICT-107 in patients with newly diagnosed glioblastoma following resection and chemoradiation. ICT-107 is an intradermally administered autologous immunotherapy consisting of the patient’s own dendritic cells pulsed with six synthetic tumor-associated antigens: AIM-2, MAGE-1, TRP-2, gp100, HER-2, IL-13Rα2. The placebo control consisted of the patient’s unpulsed dendritic cells. The data from the phase 2 trial indicated a survival advantage in the ICT-107 treated group compared to the control group. The data also showed an association between immune response and survival, especially in HLA-A2 positive (HLA-A2+) patients, which is the target patient population for the ongoing phase 3 registration trial.
The updated immune response data from the phase 2 trial showed that treatment with ICT-107 resulted in the development of a measurable anti-tumor T cell response in some patients, which was associated with survival. Patients that developed the anti-tumor T cell response which was measurable by both ELISpot (to detect viable T cells capable of binding to a target antigen) and multimer testing (to detect T cell binding with higher sensitivity than ELISpot) had improved survival. The data demonstrated that immuno-monitoring can provide an early indication of patients responding to immunotherapy. In the current ongoing phase 3 registration trial of ICT-107, ImmunoCellular plans to perform immuno-monitoring to support the trial.
The data were presented at SNO by Steven J. Swanson, PhD, Senior Vice President, Research, ImmunoCellular Therapeutics, in a presentation titled, “Categorizing immune responders with fusion metrics and simulation for association to survival and progression-free survival with immune response in HLA-A2+ patients with GBM from a phase 2 trial of dendritic cell (DC) immunotherapy (ICT-107).”
Dr. Swanson commented: “ICT-107 is designed to deliver therapeutic benefit by stimulating the patient’s immune system to attack tumor tissue. A first indicator that the immunotherapeutic is active is the production of tumor-specific T cells by the patient. In our SNO presentation, we described our ability to more clearly interpret the immune-monitoring data from the phase 2 trial. The ability to accurately identify negative and positive responses enabled us to better understand which of the patients in our trial generated T cells capable of attacking the tumor. We determined that patients with a T cell response measureable in both the ELIspot assay and through multimer analysis achieved longer survival as compared with patients who did not show a positive response. These data should enable us to better interpret the results of our ongoing phase 3 trial.”
Andrew Gengos, ImmunoCellular Chief Executive Officer, said: “The phase 2 trial immune monitoring results indicate that patients who mount a T cell response appear to have improved survival over those without a detectable response. In designing the phase 3 trial, we have made important changes in the protocol to potentially enhance the immune response in ICT-107 treated patients with the goal of optimizing the potential survival outcomes in the trial.”
Data from the phase 1 trial of ICT-107 were presented by Surasak Phuphanich, MD, Department of Neurology, Cedars-Sinai in Los Angeles, in a presentation titled “Ten-year follow up with long term remission in patients with newly diagnosed glioblastoma (GBM) treated with ICT-107 vaccine (phase 1).” The phase 1 open-label, single institution trial, which was completed in 2010, included 16 evaluable patients with newly diagnosed glioblastoma. Results of the study were initially published in 2012 (Cancer Immunol Immunother).
Updated survival data presented by Dr. Phuphanich at the 2016 SNO meeting showed that 19% of patients had long-term remission of greater than 8 years, with the longest remission being 9.6 years. Also, 38% of patients demonstrated long-term survival of greater than 8 years, with the longest survivor greater than 10.2 years. Immune response data showed a correlation between survival and cancer-stem-associated expression, and a trend toward greater CD8 T cell cytokine responses in long-term survivors.
ICT-107 Phase 3 Registration Trial Underway
The ongoing phase 3 registrational trial of ICT-107 is designed as a randomized, double-blind, placebo-controlled study of HLA-A2+ subjects, which is being conducted at about 120 sites in the US, Canada and the EU, with plans to randomize at least 500 patients with newly diagnosed glioblastoma. The primary endpoint in the trial is overall survival. Secondary endpoints include progression-free survival and safety, as well as overall survival in the two pre-specified MGMT subgroups.
For patients, families and physicians seeking additional information about the ICT-107 phase 3 trial, please consult www.clinicaltrials.gov.
About ImmunoCellular Therapeutics, Ltd.
ImmunoCellular Therapeutics, Ltd. is a Los Angeles-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers. The phase 3 registrational trial of lead product candidate, ICT-107, a patient-specific, dendritic cell-based immunotherapy targeting multiple tumor-associated antigens on glioblastoma stem cells, has been initiated. ImmunoCellular’s pipeline also includes: ICT-121, a patient-specific, dendritic cell-based immunotherapy targeting the CD133 antigen on stem cells in recurrent glioblastoma; ICT-140, a patient-specific, dendritic cell-based immunotherapy targeting antigens on ovarian cancer stem cells; and the Stem-to-T-cell research program which engineers the patient’s hematopoietic stem cells to generate antigen-specific cancer-killing T cells. To learn more about ImmunoCellular, please visit www.imuc.com.
Forward-Looking Statements for ImmunoCellular Therapeutics
This press release contains certain forward-looking statements, including statements regarding ImmunoCellular’s intentions and current expectations concerning, among other things, timing for enrollment and randomization of patients, the activation of clinical sites, the receipt and announcement of clinical data; the development and commercialization of ICT-107; the development of our preclinical Stem-to-T-cell program and ImmunoCellular’s ability to achieve its other clinical, operational and financial goals. Forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including the availability of resources to continue to develop ImmunoCellular’s product candidates, the uncertain timing of completion and success of clinical trials, and the risk that ICT-107 can be further successfully developed or commercialized. Additional risks and uncertainties are described under the heading “Risk Factors” in ImmunoCellular’s most recently filed quarterly report on Form 10-Q and annual report on Form 10-K. Except as required by law, ImmunoCellular undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
ImmunoCellular Therapeutics, Ltd.
Investor Relations
Jane Green
415.348.0010 direct
415.652.4819 mobile
jane@jmgcomm.com
Independent Research Firm Raises Fair Value Estimate and Revenue Forecast
BELLINGHAM, WA–(November 21, 2016) – Fundamental Research Corp., an independent research firm specializing in the small-cap and microcap sectors, has announced that it has updated its analysis of eXp World Holdings, Inc. (OTCQB: EXPI). To view the updated research report in its entirety visit http://www.otcmarkets.com/financialReportViewer?symbol=EXPI&id=163022.
eXp World Holdings, Inc. is the holding company for eXp Realty, the Agent-Owned Cloud Brokerage®. The Company’s real estate brokerage division now has more than 2,200 real estate professionals who span across 41 states, the District of Columbia and parts of Canada. The Company had 864 agents on January 1, 2016.
In the report, Fundamental Research Corp., which initiated coverage of eXp World Holdings, Inc. back in April of this year, cites the Company’s record third quarter revenues, a revision in its long term projections, and a healthy balance sheet among the reasons for its upward revisions.
All research issued by Fundamental Research Corp. is based on public information. Fees were paid by EXPI to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, EXPI has agreed to a minimum coverage term including four reports.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage® as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.
For more information you can follow eXp World Holdings, Inc. on Twitter, LinkedIn, Facebook, YouTube, or visit eXpWorldHoldings.com. For eXp Realty please visit: eXpRealty.com.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the Company’s expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.
MORRIS PLAINS, N.J., Nov. 18, 2016 — Immunomedics, Inc. (Nasdaq:IMMU) (“Immunomedics” or “the Company”) today confirmed that venBio Select Advisor LLC (“venBio”) has submitted a notice of nomination of four director candidates to stand for election to the Immunomedics Board of Directors at the Company’s 2016 Annual Meeting of Stockholders to be held on December 14, 2016. The Company issued the following statement:
The Immunomedics Board of Directors and management team are committed to acting in the best interests of the Company and all stockholders and regularly seeks qualified candidates for the Board. To that end, while venBio did not engage in discussions with the Company prior to nominating a majority slate for election to the Board just four weeks prior to the upcoming 2016 Annual Meeting, Immunomedics’ Governance and Nominating Committee will consider venBio’s director candidates and respond in due course.
Immunomedics has achieved a number of important milestones in 2016, including delivering positive Phase 2 clinical trial results of IMMU-132 in patients with metastatic triple-negative breast cancer (TNBC), which have been submitted for publication; achieving our timetable for the manufacturing of clinical materials for the Phase 3 confirmatory trial in TNBC; and nearing completion of enrolling 100 patients into our ongoing open-label Phase 2 trial by year-end 2016. The Company has also retained Greenhill & Co. to pursue licensing and other strategic activities with regard to preclinical and clinical pipeline products as well as platform technologies.
The Company is at a pivotal point in its growth trajectory as it prepares to submit an accelerated approval application to the FDA for IMMU-132 in mid-2017 and believes disruption in its strategy at this time could destroy value and potentially disrupt the Company’s clinical trial activities for late-stage cancer patients. Additionally, as previously announced, at the annual meeting of the American Society of Hematology in December 2016, the Company will premiere a new antibody-drug conjugate known as IMMU-140 and the Company anticipates delivering interim results for IMMU-132 at a symposium on genitourinary cancers to be held in early 2017.
Immunomedics is well-positioned to execute on the Company’s strategy, drive innovation in the targeted treatment of cancer, autoimmune disorders and other serious diseases and enhance stockholder value, and perhaps most importantly help patients suffering from cancer.
The Company presented the Board’s recommendation regarding director nominees in its definitive proxy statement and other materials filed with the SEC on November 2, 2016, and mailed to stockholders.
DLA Piper is serving as legal advisor and Greenhill & Co. is serving as financial advisor to Immunomedics.
About Immunomedics
Immunomedics is a clinical-stage biopharmaceutical company developing monoclonal antibody based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Immunomedics’ advanced proprietary technologies allow the Company to create humanized antibodies that can be used either alone in unlabeled or “naked” form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins. Using these technologies, Immunomedics has built a pipeline of eight clinical-stage product candidates. Immunomedics’ portfolio of investigational products includes antibody-drug conjugates (ADCs) that are designed to deliver a specific payload of a chemotherapeutic directly to the tumor while reducing overall toxic effects that are usually found with conventional administration of these chemotherapeutic agents. Immunomedics’ most advanced ADCs are sacituzumab govitecan (IMMU-132) and labetuzumab govitecan (IMMU-130), which are in Phase 2 trials for a number of solid tumors and metastatic colorectal cancer, respectively. IMMU-132 has received Breakthrough Therapy Designation from the FDA for the treatment of patients with triple-negative breast cancer who have failed at least two prior therapies for metastatic disease. Immunomedics has a research collaboration with Bayer to study epratuzumab as a thorium-227-labeled antibody. Immunomedics has other ongoing collaborations in oncology with independent cancer study groups. The IntreALL Inter-European study group is conducting a large, randomized Phase 3 trial combining epratuzumab with chemotherapy in children with relapsed acute lymphoblastic leukemia at clinical sites in Australia, Europe, and Israel. Immunomedics also has a number of other product candidates that target solid tumors and hematologic malignancies, as well as other diseases, in various stages of clinical and preclinical development. These include combination therapies involving its antibody-drug conjugates, bispecific antibodies targeting cancers and infectious diseases as T-cell redirecting immunotherapies, as well as bispecific antibodies for next-generation cancer and autoimmune disease therapies, created using its patented DOCK-AND-LOCK® protein conjugation technology. The Company believes that its portfolio of intellectual property, which includes approximately 299 active patents in the United States and more than 400 foreign patents, protects its product candidates and technologies. For additional information on the Company, please visit its website at www.immunomedics.com. The information on its website does not, however, form a part of this press release.
Important Additional Information
Immunomedics, Inc. (the “Company”), its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from Company stockholders in connection with the matters to be considered at the Company’s 2016 Annual Meeting. The Company has filed a definitive proxy statement and form of WHITE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with any such solicitation of proxies from Company stockholders. COMPANY STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS AND SUPPLEMENTS), THE ACCOMPANYING WHITE PROXY CARD AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY FILES WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in the proxy statement and other materials filed by the Company with the SEC. Stockholders will be able to obtain the proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC for no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge at the Company’s website at www.immunomedics.com, by writing to Immunomedics, Inc. at 300 The American Road, Morris Plains, New Jersey 07950, or by calling the Company’s proxy solicitor, or by calling Dr. Chau Cheng, Senior Director, Investor Relations & Corporate Secretary, (973) 605-8200, extension 123.
Forward-Looking Statements
This release, in addition to historical information, may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Such statements, including statements regarding clinical trials (including the funding therefor, anticipated patient enrollment, trial outcomes, timing or associated costs), regulatory applications and related timelines, out-licensing arrangements (including the timing and amount of contingent payments), forecasts of future operating results, potential collaborations, and capital raising activities, involve significant risks and uncertainties and actual results could differ materially from those expressed or implied herein. Factors that could cause such differences include, but are not limited to, the Company’s dependence on business collaborations or availability of required financing from capital markets, or other sources on acceptable terms, if at all, in order to further develop our products and finance our operations, new product development (including clinical trials outcome and regulatory requirements/actions), the risk that we or any of our collaborators may be unable to secure regulatory approval of and market our drug candidates, risks associated with the outcome of pending litigation and competitive risks to marketed products, and the Company’s ability to repay its outstanding indebtedness, if and when required, as well as the risks discussed in the Company’s filings with the Securities and Exchange Commission. The Company is not under any obligation, and the Company expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.
For More Information:
Dr. Chau Cheng
Senior Director, Investor Relations & Corporate Secretary
(973) 605-8200, extension 123
ccheng@immunomedics.com
Media
Dan Katcher / Ed Trissel / Nick Lamplough
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
Investors
Dan Burch/Bob Marese
MacKenzie Partners, Inc.
(212) 929-5500
Patients treated with Optune® together with temozolomide demonstrated a significant increase in progression free and overall survival compared to patients treated with temozolomide alone
EF-14 patients treated with Optune together with temozolomide experienced a 70 percent improvement in survival rate at four years compared to patients treated with temozolomide alone
Novocure (NASDAQ:NVCR) announced today that a long-term analysis of the full trial cohort from its phase 3 pivotal EF-14 trial of Optune® in combination with temozolomide for the treatment of newly diagnosed glioblastoma (GBM) confirmed the superior survival results seen at interim analysis. The long-term analysis demonstrated superior two-, three- and four-year survival of patients treated with Optune together with temozolomide compared to temozolomide alone. The interim analysis results – published in the Journal of the American Medical Association (JAMA) 1 in December 2015 – showed significant extension of both progression free and overall survival in newly diagnosed GBM patients receiving Optune with temozolomide compared to temozolomide alone.
EF-14 Principal Investigator Roger Stupp, M.D., Professor at the University of Zurich and Director of Department of Oncology at the Zurich University Hospital, Zurich, Switzerland, will present these late breaking results at the 21st Annual Scientific Meeting of the Society for Neuro-Oncology (SNO) on Nov. 18, in Scottsdale, Arizona.
“The analysis of the full dataset confirms the improvement in both progression free and overall survival we saw in the trial’s interim analysis, and demonstrates superior long-term survival,” Dr. Stupp said. “These mature results further validate Optune as a standard of care treatment option for glioblastoma, providing patients with a therapy that can extend their survival while maintaining their quality of life.”
“We are excited that Novocure’s long-term analysis of the EF-14 trial confirms the interim analysis results of superior overall and progression free survival, while providing new data on potential long-term survival benefits for newly diagnosed GBM patients,” said Elizabeth M. Wilson, President and CEO of the American Brain Tumor Association. “GBM patients need better treatment options, and it is a great day when new evidence shows that we are making progress in treating this disease.”
The long-term analysis of all patients (n=695) shows that:
- Patients treated with Optune together with temozolomide demonstrated a significant increase in median progression free survival (PFS) compared to temozolomide alone (median PFS of 6.7 months versus 4.0 months, respectively, hazard ratio=0.63, p=0.00005).
- Patients treated with Optune together with temozolomide demonstrated a significant increase in median overall survival (OS) compared to temozolomide alone (median OS from randomization of 20.8 months versus 16.0 months, respectively, hazard ratio=0.65, p=0.0006)
- The percentage of patients alive at two years in the Optune together with temozolomide arm was 43 percent compared to 30 percent in the temozolomide alone arm, a 43% increase in the chance of living two years.
- The percentage of patients alive at four years in the Optune together with temozolomide arm was 17 percent compared to 10 percent in the temozolomide alone arm, a 70% increase in the chance of living four years.
- Consistent with the interim analysis, the OS and PFS benefit of Optune together with temozolomide compared to temozolomide alone was seen across all patient subgroups tracked in the EF-14 trial, including patient age, performance status and tumor genetics.
- The safety profile in the long-term analysis was consistent with the interim analysis of the EF-14 trial.
“The long-term analysis further supports our data showing that Optune together with temozolomide is a better treatment option for newly diagnosed GBM patients compared to temozolomide alone,” said Asaf Danziger, Novocure’s CEO. “We believe these results will give health care providers further confidence in our therapy and transform the standard of care in newly diagnosed GBM. Our priority is to improve the lives of GBM patients, and we believe these results will help us to accomplish our mission.”
About Novocure
Novocure is a commercial-stage oncology company developing a novel, proprietary therapy called Tumor Treating Fields, or TTFields, for the treatment of solid tumor cancers. Novocure’s commercialized product, Optune, is approved for the treatment of adult patients with glioblastoma. Novocure has ongoing or completed phase 2 pilot trials investigating TTFields in non-small cell lung cancer, pancreatic cancer, ovarian cancer and mesothelioma.
Headquartered in Jersey, Novocure has U.S. operations in Portsmouth, New Hampshire, Malvern, Pennsylvania, and New York City. Additionally, the company has offices in Germany, Switzerland and Japan, and a research center in Haifa, Israel. For additional information about the company, please visit www.novocure.com or follow us at www.twitter.com/novocure.
Approved Indications
In the United States, Optune is intended as a treatment for adult patients (22 years of age or older) with histologically-confirmed glioblastoma multiforme (GBM).
In the United States, Optune with temozolomide is indicated for the treatment of adult patients with newly diagnosed, supratentorial glioblastoma following maximal debulking surgery and completion of radiation therapy together with concomitant standard of care chemotherapy.
In the United States, for the treatment of recurrent GBM, Optune is indicated following histologically-or radiologically-confirmed recurrence in the supratentorial region of the brain after receiving chemotherapy. The device is intended to be used as a monotherapy, and is intended as an alternative to standard medical therapy for GBM after surgical and radiation options have been exhausted.
Important Safety Information
Contraindications
Do not use Optune if you have an active implanted medical device, a skull defect (such as, missing bone with no replacement), or bullet fragments. Use of Optune together with implanted electronic devices has not been tested and may theoretically lead to malfunctioning of the implanted device. Use of Optune together with skull defects or bullet fragments has not been tested and may possibly lead to tissue damage or render Optune ineffective.
Do not use Optune if you are known to be sensitive to conductive hydrogels. In this case, skin contact with the gel used with Optune may commonly cause increased redness and itching, and rarely may even lead to severe allergic reactions such as shock and respiratory failure.
Warnings and Precautions
Use Optune only after receiving training from qualified personnel, such as your doctor, a nurse, or other medical personnel who have completed a training course given by Novocure (the device manufacturer).
Do not use Optune if you are pregnant, you think you might be pregnant or are trying to get pregnant. It is not known if Optune is safe or effective in these populations.
The most common (≥10%) adverse events involving Optune in combination with temozolomide were low blood platelet count, nausea, constipation, vomiting, fatigue, scalp irritation from device use, headache, convulsions, and depression.
The most common (≥10%) adverse events seen when using Optune alone were scalp irritation from device use and headache.
The following adverse reactions were considered related to Optune when using the device alone: scalp irritation from device use, headache, malaise, muscle twitching, fall and skin ulcer.
All servicing procedures must be performed by qualified and trained personnel.
Do not use any parts that do not come with the Optune Treatment Kit, or that were not sent to you by the device manufacturer or given to you by your doctor.
Do not wet the device or transducer arrays.
If you have an underlying serious skin condition on the scalp, discuss with your doctor whether this may prevent or temporarily interfere with Optune treatment.
Please see http://www.optune.com/safety to see the Optune Instructions For Use (IFU) for complete information regarding the device’s indications, contraindications, warnings, and precautions.
Forward-Looking Statements
In addition to historical facts or statements of current condition, this press release may contain forward-looking statements. Forward-looking statements provide Novocure’s current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, development of potential products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” or other words and terms of similar meaning. Novocure’s performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions as well as more specific risks and uncertainties facing Novocure such as those set forth in its Annual Report on Form 10-K filed on March 1, 2016, with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, Novocure does not intend to update publicly any forward-looking statement, except as required by law. Any forward-looking statements herein speak only as of the date hereof. The Private Securities Litigation Reform Act of 1995 permits this discussion.
1 Stupp R, Taillibert S, Kanner AA, et al. Maintenance therapy with tumor-treating fields plus temozolomide vs temozolomide alone for glioblastoma: a randomized clinical trial. JAMA. 2015;314(23):2535-2543.
Media and Investor
Novocure
Ashley Cordova, 212-767-7558
acordova@novocure.com
COSTA MESA, Calif., Nov. 18, 2016 — Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that it has increased the financing for Marque Medical to $3.9 million. The financing will be used by Marque Medical to open new urgent care clinic locations in Orange County. In addition to the financing, Marque Medical utilizes a full suite of Pacific Mercantile Bank’s cash management services.
Marque Medical operates Marque Urgent Care, a patient-centered network of walk-in clinics. Through its six locations in Orange County and San Diego County, Marque Urgent Care treats a range of non-life-threatening injuries and illnesses for adults and children in addition to providing general wellness services. With each location fully staffed with experienced, multi-specialty physicians, Marque Urgent Care has elevated the standards of walk-in care by combining the best-in-class physicians, upscale and modern facilities, and a first-class approach to serving patients.
“Pacific Mercantile Bank has been highly supportive of our growth plans and provided the short-term and long-term credit facilities we needed to open our newest locations in Mission Viejo and Buena Park,” said Pierre Bergougnan, CEO of Marque Medical. “We appreciate the time that the team from Pacific Mercantile Bank took to understand our expansion plans and customize a credit facility that accommodates the timing of the opening of our new clinics and supports our increasing working capital needs as our business grows.”
“Marque Medical has proven its business model and filled a critical gap between crowded primary care offices and costly emergency rooms,” said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank. “We are very pleased to help Marque Medical open new urgent care clinics and better serve the medical needs of residents throughout Orange County.”
About Pacific Mercantile Bank
Pacific Mercantile Bank opened for business March 1, 1999. The Bank, which is FDIC insured and a member of the Federal Reserve System, provides a wide range of commercial banking services to businesses, business owners and business professionals through its combination of traditional banking offices and comprehensive, sophisticated electronic banking services.
The Bank, headquartered in Orange County, operates a total of nine offices in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. In addition, the Bank offers comprehensive online banking services accessible at www.pmbank.com. Pacific Mercantile Bancorp (NASDAQ:PMBC) is the parent holding company of Pacific Mercantile Bank.
Forward-Looking Information
This news release contains statements regarding our expectations, beliefs and views about our plans to continue to build our loan portfolio and supporting systems and processes. These statements, which constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, can be identified by the fact that they do not relate strictly to historical or current facts. Often, they include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are subject to numerous risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond our control. These risks and uncertainties include, but are not limited to, the following: the impact of interest rates and other external economic factors and competition among financial services providers. We undertake no obligation (and expressly disclaim any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual conditions, events or results to materially differ from those described in the forward-looking statements, please refer to the factors set forth under the headings “Risk Factors” in our most recent Form 10-K and 10-Q reports and to our most recent Form 8-K reports, which are available online at www.sec.gov. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition.
Pacific Mercantile Bank Contact:
Kittridge Chamberlain
EVP & Chief Banking Officer
714-438-2500
– 880 total patients enrolled; top-line data readout currently expected in January 2017 –
Tenax Therapeutics, Inc. (NASDAQ: TENX), a specialty pharmaceutical company focused on identifying, developing and commercializing products for the critical care market, today announced that it has completed patient enrollment for its Phase 3 LEVO-CTS trial in cardiac surgery.
The Company will lock its database after 30-day follow-up from the final patient, and currently expects to report top-line results in January 2017 in conjunction with the study’s lead investigators at Duke Clinical Research Institute (DCRI).
“We are very pleased to reach this milestone after more than two years of hard work, and would like to thank all of the patients and investigators who have taken part in the trial,” said John Kelley, CEO of Tenax Therapeutics. “Consistent clinical execution and increased trial visibility has significantly accelerated the enrollment rate during these past 12 months, and we believe the expanded number of patients ensures that we have the best possible chance for success. We now look forward to sharing top-line results with you during the next few months, and we are prepared for a near-term NDA submission and commercial effort if the data reads out positively. We continue to believe that levosimendan has the potential to fill an important void in the current treatment paradigm for cardiac surgery.”
The trial has enrolled a total of 880 patients. This was larger than the original target enrollment number of 760 patients in order to ensure sufficient powering – which was necessary due to a small number of patients who were randomized but did not receive study drug, a small number of patients missing one or more component measurements of the primary endpoint, and a slightly lower primary endpoint event rate than originally projected.
The LEVO-CTS trial is a double-blind, randomized, placebo-controlled study that is evaluating the use of levosimendan administered before and during cardiac surgery to reduce the incidence of low cardiac output syndrome (LCOS) and associated morbidity and mortality. The trial is also measuring secondary endpoints around potential pharmacoeconomic benefits and the incidence rate of LCOS. The United States Food and Drug Administration (FDA) has granted Fast Track status for levosimendan in this indication, and agreed to the Phase 3 protocol design under Special Protocol Assessment (SPA).
The full LEVO-CTS trial design was recently published by the study’s investigators in the American Heart Journal in an article titled, “Levosimendan in Patients with Left Ventricular Systolic Dysfunction Undergoing Cardiac Surgery on Cardiopulmonary Bypass: Rationale and Study Design of the LEVO-CTS Trial.”
About Levosimendan
Levosimendan is a calcium sensitizer that works through a unique triple mechanism of action. It initially was developed for intravenous use in hospitalized patients with acutely decompensated heart failure. It was discovered and developed by Orion Pharma, Orion Corporation of Espoo Finland, and is currently approved in over 50 countries for this indication and not available in the United States. Tenax Therapeutics acquired the North American rights to develop and commercialize levosimendan from Phyxius Pharma.
About Tenax Therapeutics
Tenax Therapeutics, Inc., is a specialty pharmaceutical company focused on identifying, developing and commercializing products for the critical care market. The Company owns the North American rights to develop and commercialize levosimendan, and the United States Food and Drug Administration (FDA) has granted Fast Track status for levosimendan for the reduction of morbidity and mortality in cardiac surgery patients at risk for developing Low Cardiac Output Syndrome (LCOS). The Company is currently in a Phase 3 trial with levosimendan for that indication. For more information, visit www.tenaxthera.com.
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by the company that involve risks and uncertainties and reflect the company’s judgment as of the date of this release. The forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to matters beyond the company’s control that could lead to delays in the clinical study, delays in new product introductions and customer acceptance of these new products, and other risks and uncertainties as described in the company’s filings with the Securities and Exchange Commission, including in its transition report on Form 10-KT filed on March 14, 2016, its quarterly report on Form 10-Q filed on November 9, 2016 as well as its other filings with the SEC. The company disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. Statements in this press release regarding management’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Investor Contact:
Stern Investor Relations, Inc.
Will O‘Connor, 212-362-1200
will@sternir.com
DALLAS, Nov. 18, 2016 — Marine Petroleum Trust (NASDAQ: MARPS) (“Marine”) today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.091087 per unit, payable on December 28, 2016, to unitholders of record on November 30, 2016. Marine’s cash distribution history, current and prior year financial reports, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.marps-marine.com/.
This distribution of $0.091087 per unit is higher than the $0.043507 per unit distributed last quarter. As compared to the previous quarter, the prices for both oil and natural gas and the volume of oil produced and included in the current distribution increased, while the volume of natural gas produced and included in the current distribution decreased. This distribution is higher than the $0.066479 per unit distributed in the comparable quarter in 2015. As compared to the comparable quarter in 2015, the prices realized for both oil and natural gas and the volume of natural gas produced and included in the current distribution decreased, while the volume of oil produced and included in the current distribution increased.
Marine’s distributions to unitholders are determined by royalties received up to the date the distribution amount is declared. In general, Marine receives royalties two months after oil production and three months after natural gas production.
A copy of Marine’s 2016 tax information is expected to be posted on Marine’s website by March 1, 2017.
| Contact: |
Ron E. Hooper |
|
SVP, Royalty Trust Services |
|
Southwest Bank, Trustee |
|
Toll Free – 1.855.588-7839 |
SOMERSET, NJ–(Nov 18, 2016) – MTBC (NASDAQ: MTBC) (NASDAQ: MTBCP), a leading provider of proprietary web-based electronic health records, practice management and mHealth solutions, announced today that its Board of Directors has declared monthly cash dividends for its 11% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”) for December 2016, January 2017 and February 2017.
Holders of shares of the Series A Preferred Stock are entitled to receive cumulative cash dividends at the rate of 11% of the $25.00 per share liquidation preference per annum (equivalent to $2.75 per annum per share). Dividends on the Series A Preferred Stock are payable monthly on the 15th day of each month; provided that if any dividend payment date is not a business day, then the dividend may be paid on the next succeeding business day. Dividends are payable to holders of record on the applicable record date, which shall be the last day of the calendar month, whether or not a business day.
MTBC’s Series A Preferred Stock trades on the NASDAQ Capital Market under the ticker symbol “MTBCP.”
The following table shows the monthly dividends and associated record and payment dates:
|
|
|
|
|
|
|
|
|
Dec. 2016 |
|
Jan. 2017 |
|
Feb. 2017 |
|
|
|
|
|
|
|
| Dividend per share |
|
$0.22917 |
|
$0.22917 |
|
$0.22917 |
| Ex-dividend date |
|
|
Dec. 28, 2016 |
|
|
Jan. 27, 2017 |
|
|
Feb. 24, 2017 |
| Record date |
|
|
Dec. 31, 2016 |
|
|
Jan. 31, 2017 |
|
|
Feb. 28, 2017 |
| Payment date |
|
|
Jan. 17, 2017 |
|
|
Feb. 15, 2017 |
|
|
Mar. 15, 2017 |
|
|
|
|
|
|
|
|
|
|
About MTBC
Medical Transcription Billing, Corp. 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 (or 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.
SOURCE MTBC
Disclaimer
This press release is for information purposes only, and does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
FREMONT, Calif., Nov. 17, 2016 — Asterias Biotherapeutics, Inc. (NYSE MKT: AST), a biotechnology company pioneering the field of regenerative medicine, today announced the appointment of Ryan Chavez to the position of Chief Financial Officer. In his expanded role, Mr. Chavez, who will also retain the title of General Counsel, will oversee all financial aspects of the company. Mr. Chavez will continue to report to Asterias’ President and Chief Executive Officer Steve Cartt. Mr. Chavez joined Asterias in July 2016 as its Executive Vice President of Finance and General Counsel.
“Since Ryan joined Asterias earlier this year, he has provided strong financial and legal leadership for Asterias,” said Mr. Cartt. “Ryan’s financial and legal background and prior experience within the healthcare industry will continue to be instrumental as we further execute on our strategy to advance the clinical progress of our therapeutic candidates. He has quickly become a key member of our leadership team, and we look forward to Ryan’s many contributions in the years ahead.”
Prior to joining Asterias, Mr. Chavez was Vice President and General Counsel of Mallinckrodt’s Autoimmune and Rare Disease Division. Before joining Mallinckrodt in August 2014, he served as Associate General Counsel at Questcor. Prior to joining Questcor in October 2012, he worked at the law firms of Stradling, Yocca, Carlson & Rauth and Rutan & Tucker. Previously, Mr. Chavez served in various financial roles at General Electric Co. He earned his J.D., magna cum laude, from Chapman University School of Law and his B.A. with honors and distinction from Stanford University.
About Asterias Biotherapeutics
Asterias Biotherapeutics, Inc. is a biotechnology company pioneering the field of regenerative medicine. The company’s proprietary cell therapy programs are based on its immunotherapy and pluripotent stem cell platform technologies. Asterias is presently focused on advancing three clinical-stage programs which have the potential to address areas of very high unmet medical need in the fields of neurology and oncology. AST-OPC1 (oligodendrocyte progenitor cells) is currently in a Phase 1/2a dose escalation clinical trial in spinal cord injury.
AST-VAC1 (antigen-presenting autologous dendritic cells) is undergoing continuing development by Asterias after demonstrating promise in a Phase 2 study in Acute Myeloid Leukemia (AML) and completing a successful end-of-Phase 2 meeting with the FDA. The company is currently focused on streamlining and modernizing the manufacturing process for AST-VAC1 in advance of a planned initiation of a confirmatory phase 2b study. AST-VAC2 (antigen-presenting allogeneic dendritic cells) represents a second generation, allogeneic immunotherapy. The company’s research partner, Cancer Research UK, plans to begin a Phase 1/2a clinical trial of AST-VAC2 in non-small cell lung cancer in the first half of 2017. Additional information about Asterias can be found at www.asteriasbiotherapeutics.com.
FORWARD-LOOKING STATEMENTS
Statements pertaining to future financial and/or operating and/or clinical research results, future growth in research, technology, clinical development, and potential opportunities for Asterias, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Asterias, particularly those mentioned in the cautionary statements found in Asterias’ filings with the Securities and Exchange Commission. Asterias disclaims any intent or obligation to update these forward-looking statements.
Company Signals Earlier Start to Next Clinical Trial & Expects to File IND Submission before Year-End
HOUSTON, TX–(November 17, 2016) – Moleculin Biotech, Inc., (NASDAQ: MBRX) (“Moleculin” or the “Company”), a preclinical and clinical-stage pharmaceutical company focused on the development of anti-cancer drug candidates, some of which are based on license agreements with The University of Texas System on behalf of the M.D. Anderson Cancer Center, today announced it has received verbal positive guidance from the FDA regarding its planned IND submission indicating that the Company may incorporate by reference the IND established by a prior developer.
Moleculin’s Chairman and CEO, Walter Klemp, commented, “This new positive guidance removes a major question mark and allows us to create a tighter timeline for the estimated beginning of our next clinical trial. To be clear, we still can’t rule out the possibility of a delay in the timeline, but with the knowledge that the FDA is encouraging us to simply incorporate by reference the prior developer’s IND, we believe we can accelerate our IND submission process. On our current path, we expect to be able to file our IND submission before year end. Barring a negative surprise from the FDA’s review of our submission, that should allow us to begin treating patients in our next clinical trial several months sooner than expected.”
The Company has indicated in previous disclosures that it expected to begin its next clinical trial by the first half of 2017, however this development may reduce that time frame by several months. The Company has submitted a pre-IND briefing document to the FDA along with key questions regarding its clinical development plan and a request for a meeting, if the FDA deems it necessary. The FDA recently indicated in writing that it intends to provide written responses to the Company by December 6, 2016 and that it does not believe a live meeting is necessary. Once those written responses are received, the Company will adjust its final IND submission document accordingly and submit for final FDA review. IND submissions are normally reviewed within 30 days of filing.
The beginning of the Company’s next clinical trial for Annamycin will depend on many things, including but not limited to the absence of any objections by the FDA to the Company’s IND submission, review and approval by an appropriate Institutional Review Board (IRB) representing the proposed clinical site or sites, and the ultimate recruitment of patients by qualified clinical testing sites.
Dr. Don Picker, Moleculin’s COO added, “Based on this positive guidance, we have already begun discussions with suitable testing sites so that we can begin recruiting as soon as we have IRB approval. We intend to hit the ground running as soon as the IND is active.”
About Moleculin Biotech, Inc.
Moleculin Biotech, Inc. is a preclinical and clinical-stage pharmaceutical company focused on the development of anti-cancer drug candidates, some of which are based on discoveries made at M.D. Anderson Cancer Center. Our lead product candidate is Annamycin, a Phase II clinical stage anthracycline for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML. We also have two pre-clinical small molecule portfolios, one of which is focused on the modulation of hard-to-target tumor cell signaling mechanisms and the recruitment of the patient’s own immune system. The other portfolio targets the metabolism of tumors.
For more information about Moleculin, please visit http://www.moleculin.com.
Forward-Looking Statements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the results of the FDA’s review of our IND submission, the timing of the FDA’s review of our IND submission and our ability to commence our clinical trial several months earlier than expected, and the approval by an appropriate IRB representing the proposed clinical site or sites and the ultimate recruitment of patients by qualified clinical testing sites. These statements relate to future events, future expectations, plans and prospects. Although Moleculin Biotech believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Moleculin Biotech has attempted to identify forward-looking statements by terminology including ”believes,” ”estimates,” ”anticipates,” ”expects,” ”plans,” ”projects,” ”intends,” ”potential,” ”may,” ”could,” ”might,” ”will,” ”should,” ”approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under the heading “Risk Factors” in our Registration Statement on Form S-1 originally filed with the Securities and Exchange Commission on February 1, 2016, as amended (Registration No. 333-209323). Any forward-looking statements contained in this release speak only as of its date. We undertake no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
Contact
PCG Advisory Group
Investors:
Kirin M. Smith
Chief Operating Officer
D: 646.863.6519
E: ksmith@pcgadvisory.com
