(XOOM) Reports Second Quarter 2013 Results

– Revenue of $33.5 Million, increase of 59% from Q2 2012

– Gross Sending Volume of $1.61 Billion, increase of 82% from Q2 2012       

– 919,610 Active Customers, increase of 40% from Q2 2012

SAN FRANCISCO, July 24, 2013 (GLOBE NEWSWIRE) — Xoom Corporation (Nasdaq:XOOM), a digital money transfer provider, today announced financial results for the second quarter of 2013:

• Revenue for the second quarter was $33.5 million, an increase of 59% from the second quarter of 2012.
• Gross profit for the second quarter was $23.4 million, an increase of 72% from the second quarter of 2012.
• GAAP net income for the second quarter was $4.1 million, or $0.11 per diluted share, compared to a net loss of $1.6 million, or $0.32 per diluted share, for the second quarter of 2012.
• Adjusted EBITDA for the second quarter was $6.1 million, compared to a loss of $345,000 for the second quarter of 2012.
• Non-GAAP earnings per diluted share was $0.14, compared to a loss of $0.20 per diluted share for the second quarter of 2012.
• Cash, cash equivalents, disbursement prefunding and short-term investments were $166.9 million as of June 30, 2013, compared to $85.3 million as of December 31, 2012.
• Outstanding amounts due under the line of credit were $49.0 million as of June 30, 2013, compared to $40.0 million as of December 31, 2012.

“We are pleased with our solid results driven by growth across all corridors, including strength from our India corridor,” said John Kunze, president and chief executive officer, Xoom. “We believe our initiatives in providing customers the best-in-class money transfer service are paying off.”

Operating Metrics

• Gross sending volume for the quarter grew 82% to $1.61 billion from the second quarter of 2012.
• Transactions for the quarter grew 57% to 2,582,000 from the second quarter of 2012.
• Active customers for the quarter grew 40% to 919,610 from the second quarter of 2012.
• New customers for the quarter grew 16% to 134,899 from the second quarter of 2012.

Highlights and Strategic Announcements

• In May, Xoom announced a quick deposit service to India to provide customers with a fast and secure service. Customers can now deposit money to bank accounts in India within a breakthrough speed of four hours when sent during Indian banking hours.
• In June, Xoom announced a new Xoom Money Transfer App to provide customers a fast and simple method to send money on the go. The Xoom App is unique in its simplicity. With “one tap and one swipe” customers can complete a quick send to their recipients in just seconds.
• During the quarter, Xoom announced two initiatives to expand its reach in the Mexican and Indian communities.– In early May, Xoom announced Mexican radio personality Eddie “Piolín” Sotelo as an endorser for Xoom. Piolín stars in a series of television and radio commercials, advocating the convenience, security and speed of Xoom.

  — In late May, Xoom announced Indian superstar and trusted icon Amitabh Bachchan as its brand ambassador of Xoom’s revolutionary four hour bank deposit to India.

Business Outlook

For Q3 2013, Xoom estimates the following:

• Revenue to be between $27 million and $28 million.
• Adjusted EBITDA to be between a loss of $1.3 million and a profit of $0.3 million.
• GAAP diluted net loss per share to be in the range of $0.11 to $0.06.
• Non-GAAP diluted net loss per share to be in the range of $0.07 to $0.02.

For Full Year 2013, Xoom estimates the following:

• Revenue to be between $115 million and $117 million.
• Adjusted EBITDA to be between $6.3 million and $9.0 million.
• GAAP diluted net income/loss per share to be in the range of a loss of $0.08 to income of $0.01.
• Non-GAAP diluted net income per share to be in the range of $0.05 to $0.13.

Xoom plans to host a conference call today to review its second quarter 2013 results and to discuss its financial outlook for the third quarter and full year 2013. The conference call can be accessed by dialing the toll free number (877) 440-7574 or the international number (253) 237-1314.  The call is scheduled to begin at 2:00 p.m. PT / 5:00 p.m. ET and can be accessed via the Web at ir.xoom.com. The webcast will be available live, and a replay will be available following completion of the live broadcast for approximately 60 days.

About Xoom

Xoom is a digital money transfer provider, focused on helping consumers send money in a secure, fast and cost-effective way using their mobile phone, tablet or computer. During the 12 month period ended June 30, 2013, Xoom’s more than 915,000 active customers sent more than $4.3 billion to family and friends in 30 countries. The company is headquartered in San Francisco and can be found online at www.xoom.com.

Forward-Looking Statements

This press release and Xoom’s scheduled conference call contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to, among other things, expectations, plans, prospects and financial results for Xoom, including, but not limited to, its expectations regarding its market demand, future earnings, revenue and financial and operating metrics. These forward-looking statements are based upon the current expectations and beliefs of Xoom’s management as of the date of this press release and conference call, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements made in this press release and during the conference call are based on information available to Xoom as of the date thereof, and Xoom disclaims any obligation to update these forward-looking statements.

In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the evolving nature of the industry in which Xoom operates; its failure to attract new customers or retain existing customers; economic, political or regulatory factors beyond its control, in the U.S. or in countries to which its customers transfer money; fluctuations in foreign exchange rates; competitive pricing and marketing strategies by competitors; the adoption of competing technologies that supplant its services; the use of its services for illegal or improper purposes; the failure of partners to disburse funds according to Xoom’s instructions; its ability to contract for third-party services on commercially reasonable terms; the maintenance of its payment network on terms consistent with those currently in place or newly adopted regulations in the U.S or in countries to which its customers transfer money; increases in transaction processing fees; declines in customer confidence in its business or in money transfer providers generally; its ability to protect its intellectual property; the adoption of smartphones and mobile devices to access information on the Internet and use of its services; potential breaches of its security systems; and other risks and uncertainties.

For a detailed discussion of these and other cautionary statements, please refer to the risk factors discussed in filings with the U.S. Securities and Exchange Commission (“SEC”), including but not limited to Xoom’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013, and any subsequently filed reports on Forms 10-Q and 8-K. All documents are available through the SEC’s Electronic Data Gathering Analysis and Retrieval system (“EDGAR”) at www.sec.gov or Xoom’s website at www.xoom.com.

Non-GAAP Financial Measures

Xoom’s stated results include certain non-GAAP financial measures, including Adjusted EBITDA, non-GAAP net income and non-GAAP earnings/(loss) per share. Adjusted EBITDA excludes provision for income taxes, interest expense, interest income, depreciation and amortization, and expenses related to stock-based compensation expense. Non-GAAP net income excludes expenses related to stock-based compensation expense. Adjusted EBITDA and Non-GAAP net income exclude these expenses as they are often excluded by other companies to help investors understand the operational performance of their business, and in the case of stock-based compensation, can be difficult to predict. Xoom believes these adjustments provide useful comparative information to investors.

Xoom considers these non-GAAP financial measures to be important because they provide useful measures of its operating performance and are used by its management for that purpose. In addition, investors often use measures such as these to evaluate the operating performance of a company. Non-GAAP results are presented for supplemental informational purposes only for understanding Xoom’s operating results. The non-GAAP results should not be considered a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from non-GAAP measures used by other companies.

[XOOM-F]

(TRIP) Earnings Press Release Now Available

NEWTON, Mass., July 24, 2013 /PRNewswire/ — TripAdvisor, Inc. (NASDAQ: TRIP), the world’s largest travel site*, today issued its Second Quarter 2013 earnings press release, which is available now at http://ir.tripadvisor.com/events.cfm. The press release is also available on the SEC’s website at http://www.sec.gov. As announced previously, the company will host a conference call today to discuss the press release at 5:00 p.m. Eastern Time (ET). In addition to the press release, the live audiocast and replay will be available to the public at http://ir.tripadvisor.com/events.cfm. Replays of the conference call and the webcast will be accessible at http://ir.tripadvisor.com/events.cfm for at least twelve months following the conference call.

About TripAdvisor
TripAdvisor® is the world’s largest travel site*, enabling travelers to plan and have the perfect trip. TripAdvisor offers trusted advice from real travelers and a wide variety of travel choices and planning features with seamless links to booking tools. TripAdvisor branded sites make up the largest travel community in the world, with more than 230 million unique monthly visitors**, and more than 100 million reviews and opinions covering more than 2.7 million accommodations, restaurants and attractions. The sites operate in 30 countries worldwide, including China under daodao.com. TripAdvisor also includes TripAdvisor for Business, a dedicated division that provides the tourism industry access to millions of monthly TripAdvisor visitors.

TripAdvisor, Inc. (NASDAQ: TRIP) manages and operates websites under 20 other travel media brands: www.airfarewatchdog.com, www.bookingbuddy.com, www.cruisecritic.com, www.everytrail.com, www.familyvacationcritic.com, www.flipkey.com, www.gateguru.com, www.holidaylettings.co.uk, www.holidaywatchdog.com, www.independenttraveler.com, www.jetsetter.com, www.niumba.com,  www.onetime.com, www.seatguru.com, www.smartertravel.com, www.tingo.com, www.travelpod.com, www.virtualtourist.com, www.whereivebeen.com, and www.kuxun.cn.

(BIDU) Announces Second Quarter 2013 Results

BEIJING, July 24, 2013 /PRNewswire/ — Baidu, Inc. (NASDAQ: BIDU) (“Baidu” or the “Company”), the leading Chinese language Internet search provider, today announced its unaudited financial results for the second quarter ended June 30, 2013[1].

Second Quarter 2013 Highlights

• Total revenues in the second quarter of 2013 were RMB7.561 billion ($1.232 billion), a 38.6% increase from the corresponding period in 2012.
• Operating profit in the second quarter of 2013 was RMB2.904 billion ($473.1 million), a 3.2% increase from the corresponding period in 2012.
• Net income attributable to Baidu in the second quarter of 2013 was RMB2.644 billion ($430.8 million), a 4.5% decrease from the corresponding period in 2012. Diluted earnings attributable to Baidu per ADS for the second quarter of 2013 were RMB7.52 ($1.22); diluted earnings attributable to Baidu per ADS excluding share-based compensation expenses (non-GAAP) for the second quarter of 2013 were RMB7.75 ($1.26).

“We made solid progress in the second quarter, adding a record 58,000 online active customers,” said Robin Li, chairman and chief executive officer of Baidu. “The adoption of our mobile platform gained momentum and mobile monetization improved. Mobile revenues for the first time accounted for over 10% of our total revenues this quarter.”

Mr. Li continued, “Our recent investments have further strengthened Baidu’s position in key strategic areas such as search, LBS, app distribution and online video. Our market-leading technology, innovative new products and unrivaled customer value proposition will keep us at the heart of the Internet in China.”

“We are encouraged to see clear progress in key investment areas,” commented Jennifer Li, Baidu’s chief financial officer. “We will continue to invest aggressively and remain committed to building long-term value for our shareholders.”

Second Quarter 2013 Results

Baidu reported total revenues of RMB7.561 billion ($1.232 billion) for the second quarter of 2013, representing a 38.6% increase from the corresponding period in 2012.

Online marketing revenues for the second quarter of 2013 were RMB7.539 billion ($1.228 billion), representing a 38.3% increase from the corresponding period in 2012. Baidu had about 468,000 active online marketing customers in the second quarter of 2013, representing a 33.0% increase from the corresponding period in 2012 and a 14.1% increase from the first quarter of 2013.

Revenue per online marketing customer for the second quarter was approximately RMB16,100 ($2,623), a 3.9% increase from the corresponding period in 2012 and an 11.0% increase compared to the first quarter of 2013.

Traffic acquisition cost (TAC) as a component of cost of revenues was RMB880.0 million ($143.4 million), representing 11.6% of total revenues, as compared to 8.3% in the corresponding period in 2012 and 10.2% in the first quarter of 2013. The increase mainly reflected increased contextual ads contributions and hao123 promotions through our network.

Bandwidth costs as a component of cost of revenues were RMB457.3 million ($74.5 million), representing 6.0% of total revenues, compared to 4.4% in the corresponding period in 2012.  Depreciation costs as a component of cost of revenues were RMB357.0 million ($58.2 million), representing 4.7% of total revenues, compared to 4.5% in the corresponding period in 2012. The increase was mainly due to an increase in network infrastructure capacity.

Content costs as a component of cost of revenues were RMB150.7 million ($24.5 million), representing 2.0% of total revenues, compared to 0.6% in the corresponding period in 2012, and 1.6% in the previous quarter. The year-over-year increase was mainly due to the inclusion of iQiyi’s content costs.

Selling, general and administrative expenses were RMB1.078 billion ($175.7 million), representing an increase of 83.5% from the corresponding period in 2012, primarily due to expenses related to the promotion of our products.

Research and development expenses were RMB941.8 million ($153.4 million), a 72.6% increase from the corresponding period in 2012，primarily due to an increase in the number of research and development personnel.

Share-based compensation expenses, which were allocated to related operating costs and expense line items, were RMB83.3 million ($13.6 million) in the second quarter of 2013, compared to RMB53.9 million in the corresponding period in 2012 and RMB110.9 million in the first quarter of 2013.

Operating profit was RMB2.904 billion ($473.1 million), representing a 3.2% increase from the corresponding period in 2012. Operating profit excluding share-based compensation expenses (non-GAAP) was RMB2.987 billion ($486.7 million), a 4.1% increase from the corresponding period in 2012.

Income tax expense was RMB513.2 million ($83.6 million), compared to income tax expense of RMB235.4 million in the corresponding period in 2012. The effective tax rate for the second quarter of 2013 was 16.3%, as compared to 7.9% for the corresponding period in 2012 and 16.2% in the first quarter of 2013.

Net income attributable to Baidu was RMB2.644 billion ($430.8 million), representing a 4.5% decrease from the corresponding period in 2012. Basic and diluted earnings per ADS for the second quarter of 2013 amounted to RMB7.52 ($1.23) and RMB7.52 ($1.22), respectively.

Net income attributable to Baidu excluding share-based compensation expenses (non-GAAP) was RMB2.727 billion ($444.4 million), a 3.4% decrease from the corresponding period in 2012. Basic and diluted earnings per ADS excluding share-based compensation expenses (non-GAAP) for the second quarter of 2013 amounted to RMB7.76 ($1.26) and RMB7.75 ($1.26), respectively.

As of June 30, 2013, the Company had cash, cash equivalents and short-term investments of RMB34.069 billion ($5.551 billion). Net operating cash inflow for the second quarter of 2013 was RMB3.205 billion ($522.2 million). Capital expenditures for the second quarter of 2013 were RMB547.8million ($89.3 million).

Adjusted EBITDA (non-GAAP), defined as earnings before interest, taxes, depreciation, amortization, other non-operating income and share-based compensation expenses, was RMB3.477 billion ($566.5 million) for the second quarter of 2013, representing an 8.4% increase from the corresponding period in 2012.

Outlook for Third Quarter 2013

Baidu currently expects to generate total revenues in an amount ranging from RMB8.730 billion ($1.422 billion) to RMB8.960 billion ($1.460 billion) for the third quarter of 2013, representing a 39.7% to 43.3% year-over-year increase. This forecast reflects Baidu’s current and preliminary view, which is subject to change.

Conference Call Information

Baidu’s management will hold an earnings conference call at 8:00 PM on July 24, 2013, U.S. Eastern Time (8:00 AM on July 25, 2013, Beijing/Hong Kong Time).

Dial-in details for the earnings conference call are as follows:

A replay of the conference call may be accessed by phone at the following number until July 31, 2013:

Additionally, a live and archived webcast of this conference call will be available at http://ir.baidu.com.

About Baidu

Baidu, Inc. is the leading Chinese language Internet search provider. As a technology-based media company, Baidu aims to provide the best way for people to find information. In addition to serving individual Internet search users, Baidu provides an effective platform for businesses to reach potential customers. Baidu’s ADSs trade on the NASDAQ Global Select Market under the symbol “BIDU”. Currently, ten ADSs represent one Class A ordinary share.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the outlook for the third quarter 2013 and quotations from management in this announcement, as well as Baidu’s strategic and operational plans, contain forward-looking statements. Baidu may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties.  Statements that are not historical facts, including statements about Baidu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our growth strategies; our future business development, including development of new products and services; our ability to attract and retain users and customers; competition in the Chinese and Japanese language Internet search markets; competition for online marketing customers; changes in our revenues and certain cost or expense items as a percentage of our revenues; the outcome of ongoing, or any future, litigation or arbitration, including those relating to intellectual property rights; the expected growth of the Chinese language Internet search market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and Internet search providers and general economic conditions in China, Japan and elsewhere. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission.  All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement Baidu’s consolidated financial results presented in accordance with GAAP, Baidu uses the following measures defined as non-GAAP financial measures by the SEC: adjusted EBITDA, operating profit excluding share-based compensation expenses, net income excluding share-based compensation expenses, and basic and diluted earnings per ADS excluding share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Reconciliations of non-GAAP results of operations measures to the nearest comparable GAAP measures” and “Reconciliation from net cash provided by operating activities to adjusted EBITDA” set forth at the end of this release.

Baidu believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding certain expenses, particularly share-based compensation expenses, that may not be indicative of its operating performance or financial condition from a cash perspective. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to Baidu’s historical performance and liquidity. Baidu has computed its non-GAAP financial measures using the same consistent method from quarter to quarter since April 1, 2006. We believe these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that these non-GAAP measures exclude share-based compensation charge that has been and will continue to be for the foreseeable future a significant recurring expense in our results of operations.  A limitation of using non-GAAP adjusted EBITDA is that it does not include all items that impact our net income for the period. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to the non-GAAP financial measures.

For investor and media inquiries, please contact:

China

Victor Tseng
Baidu, Inc.
Tel: +86-10-5992-7244
ir@baidu.com

Nick Beswick
Brunswick Group LLC
Tel: +86-10-5960-8600
baidu@brunswickgroup.com

U.S.

Cindy Zheng
Brunswick Group LLC
Tel: +1-212-333-3810
baidu@brunswickgroup.com

(MHH) Reports Second Quarter 2013 Results

Revenue of $28.9 million; Diluted Earnings Per Share of $0.23; 14% Year-Over-Year and 7% Sequential Revenue Growth; 64% Year-Over-Year Earnings Per Share Growth; 9% Sequential Quarterly Increase in IT Consultants on Billing.

PITTSBURGH, July 24, 2013 /PRNewswire/ — Mastech Holdings, Inc. (NYSE MKT: MHH), a national provider of Information Technology and Specialized Healthcare staffing services, announced today its financial results for the second quarter ended June 30, 2013.

Second Quarter Results:

Revenues for the second quarter of 2013 totaled $28.9 million, which represented a 14% increase over the corresponding quarter last year and a 7% improvement over first quarter 2013 results.  Gross profit in the second quarter of 2013 was $5.5 million compared to $4.8 million in the second quarter of 2012. Consolidated net income for the second quarter 2013 totaled $789,000 or $0.23 per diluted share, compared to $458,000 or $0.14 per diluted share, during the same period last year.

Demand for our IT staffing services was solid in the current quarter and largely in-line with activity levels of a quarter ago.  Market conditions in the healthcare staffing business were steady; however, higher than expected assignment ends in our travel nursing business negatively impacted revenues during the quarter. Gross margins in the second quarter of 2013 were 18.9%, which were slightly below gross margins of 19.1% reported a year earlier, but represented an improvement over first quarter 2013 gross margins of 18.1%.

Kevin Horner, Mastech’s Chief Executive Officer stated, “We are pleased to deliver another quarter of both operational progress and sequential improvement to our financial results. During the quarter, we were able to increase our IT billable consultant-base by 9% and sequentially grew revenues by 7% despite some headwinds in our travel nursing business. Operationally, we are now generating a return on our focused investments made to our recruiting organization.   Commercially, we are beginning to see gross margin expansion as our sales organization takes a more disciplined approach in securing new assignments.”

Commenting on the Company’s financial position, Jack Cronin, Chief Financial Officer, stated, “Our financial position at June 30, 2013 remains strong, with over $14 million of available borrowing capacity under our existing credit facility.  During the quarter we continued to invest in operating working capital to support revenue growth. At June 30, 2013 our “Days Sales Outstanding” measurement stood at 52 days, which is an indication of our high-quality accounts receivables and predictable cash conversion metrics.”

In conjunction with its second quarter earnings release, Mastech will host a conference call at 9:00 A. M. ET on July 24, 2013 to discuss these results and to answer questions.  A live webcast of this conference call will be available on the company’s website, www.mastech.com.  Simply click on the Investor Relations section and follow the links to the live webcast.  The webcast will remain available for replay through July 31, 2013.

About Mastech Holdings, Inc.:

Leveraging the power of 26 years of IT experience, Mastech (NYSE MKT: MHH) provides Information Technology Staffing services in the disciplines which drive today’s business operations and Specialized Healthcare Staffing services to hospitals and other healthcare facilities.  More information about Mastech can be found at Mastech’s website: www.mastech.com.

Forward-Looking Statements:

Certain statements contained in this release are forward-looking statements based on management’s expectations, estimates, projections and assumptions. Words such as “expects,” “anticipates,” “plans,” “believes,” “scheduled,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements, which include but are not limited to projections of revenues, earnings,  and cash flow.  These statements are based on information currently available to the Company and it assumes no obligation to update the forward-looking statements as circumstances change.  These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors, including, without limitation, the level of market demand for its services, the highly competitive market for the types of services offered by the company, the impact of competitive factors on profit margins, market conditions that could cause the Company’s customers to reduce their spending for its services, and the company’s ability to create, acquire and build new lines of business, to attract and retain qualified personnel, reduce costs and conserve cash, and other risks that are described in more detail in the company’s filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2012.

(NBS) to Begin Trading on NASDAQ Under Same Ticker

NEW YORK, July 23, 2013 (GLOBE NEWSWIRE) — NeoStem, Inc. (NYSE MKT:NBS), a leader in the emerging cell therapy market, today announced that it has met the listing criteria for the NASDAQ Capital Market and will move its listing from NYSE MKT to the NASDAQ Capital Market effective with the start of trading on August 5, 2013. NeoStem will continue to trade under its existing ticker symbol “NBS”. NeoStem’s common stock will trade on the NYSE MKT until the market close on August 2, 2013.

“NeoStem’s move to NASDAQ aligns with the Company’s plans to grow and expand its cellular therapy-based R&D platform and contract manufacturing capabilities, both in the US and internationally,” said Dr. Robin L. Smith, Chairman and CEO of NeoStem. “We believe that NASDAQ will provide our Company with enhanced exposure, while at the same time providing investors with the best prices, the fastest execution and lowest cost per trade. Additionally, we believe that our transfer to the NASDAQ will enhance our public visibility to institutional shareholders. As the world’s largest electronic stock market, NASDAQ promotes innovation and attracts leading growth companies from a diverse group of sectors. We are proud to be joining fellow cell therapy industry companies such as Celgene Corporation, Harvard Bioscience Inc., Osiris Therapeutics, Inc., Mesoblast Limited, Stemline Therapeutics, Inc., Verastem, Inc. and Shire PLC on the NASDAQ.”

“We are extremely pleased to welcome NeoStem to the NASDAQ Stock Market,” said Bruce Aust, Executive Vice President, NASDAQ OMX. “We are confident that a listing with NASDAQ will provide NeoStem with enhanced visibility, greater liquidity and increased exposure to the institutional investment community.”

About NeoStem, Inc.

NeoStem, Inc. (“NeoStem” or the “Company”) is a leader in the emerging cellular therapy industry. Our business model includes the development of novel proprietary cell therapy products as well as operating a contract development and manufacturing organization providing services to others in the regenerative medicine industry. The combination of a therapeutic development business and revenue-generating service provider business provides the Company with capabilities for cost effective in-house product development and immediate revenue and cash flow generation.

For more information, please visit: www.neostem.com

Forward-Looking Statements for NeoStem, Inc.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy, including with respect to the Company’s research and development and clinical evaluation efforts as well as efforts towards development of cellular therapies, including with respect to AMR-001, the future of the regenerative medicine industry and the role of stem cells and cellular therapy in that industry and the Company’s ability to successfully grow its contract development and manufacturing business. The Company’s actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the “Risk Factors” described in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 11, 2013 and in the Company’s periodic filings with the SEC. The Company’s further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.

CONTACT: NeoStem
         Dr. Robin L. Smith
         Chairman and CEO
         Phone: +1-212-584-4174
         Email: rsmith@neostem.com

(PRAN) Completes Phase 2 Huntington Disease Trial With PBT2

(BCRX) Fred Cohen Appointed to BioCryst’s Board of Directors

BioCryst Pharmaceuticals, Inc., (NASDAQ:BCRX) today announced that Fred E. Cohen, M.D., D.Phil., was elected to the Company’s Board of Directors.

“The Board of Directors and Leadership Team of BioCryst are very pleased to have Fred join the Company’s Board,” said George B. Abercrombie, Chairman of the Board of BioCryst. “Fred brings a wealth of scientific knowledge and business acumen to BioCryst and has been a valuable resource to the organization for several years as both an advisor and as an investor. We look forward to his guidance and insights toward the further success of BioCryst.”

In 2001, Dr. Cohen joined TPG to initiate TPG’s venture efforts in biotechnology and life sciences, and he serves as a Partner and Managing Director at TPG Biotech. Dr. Cohen has been a member of the faculty of University of California, San Francisco (UCSF) since 1986. At UCSF, Dr. Cohen has served as an Internist for hospitalized patients, a consulting Endocrinologist and as the Chief of the Division of Endocrinology and Metabolism. His research interests include structure based drug design, prion diseases, computational biology and heteropolymer chemistry. Fred’s research is best known in the fields of protein structure and the conformational basis of prion disease.

Dr. Cohen received his B.S. degree in Molecular Biophysics and Biochemistry from Yale University, his D.Phil. in Molecular Biophysics from Oxford on a Rhodes Scholarship, his M.D. from Stanford and his postdoctoral training and postgraduate medical training in Internal Medicine and Endocrinology at UCSF. He is a Fellow of the American College of Physicians and the American College of Medical Informatics and a member of the American Society for Clinical Investigation and Association of American Physicians. Dr. Cohen was elected to the Institute of Medicine of the National Academy of Sciences in 2004 and the American Academy of Arts and Sciences in 2008.

Currently Dr. Cohen serves on the Board of Directors of Genomic Health, Quintiles Transnational and the Boards of several privately held companies.

“Both peramivir and BCX4161 were discovered using structure based drug design, a proven approach to developing potent and selective inhibitors of enzymes involved in disease,” said Dr. Fred E. Cohen. “With the recent progress in BioCryst’s hereditary angioedema and peramivir influenza development programs, it is an exciting time to join its Board of Directors.”

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals designs, optimizes and develops novel small molecule drugs that block key enzymes involved in infectious and inflammatory diseases, with the goal of addressing unmet medical needs of patients and physicians. BioCryst currently has two late-stage development programs: peramivir, a viral neuraminidase inhibitor for the treatment of influenza, and ulodesine, a purine nucleoside phosphorylase (PNP) inhibitor for the treatment of gout. In addition, BioCryst has several early-stage programs: BCX4161 and a next generation oral inhibitor of plasma kallikrein for hereditary angioedema and BCX4430, a broad spectrum antiviral for hemorrhagic fevers. For more information, please visit the Company’s website at www.BioCryst.com.

This press release contains forward-looking statements, including statements regarding future results and achievements. These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Please refer to the documents BioCryst files periodically with the SEC and located at http://investor.shareholder.com/biocryst/sec.cfm.

(SCON) Delivers on Conductus(R) 2G HTS Wire Orders

Ships to Three Multinational Smart Grid Companies

AUSTIN, Texas, July 23, 2013 (GLOBE NEWSWIRE) — Superconductor Technologies Inc. (STI) (Nasdaq:SCON), a world leader in the development and production of high temperature superconducting (HTS) materials and associated technologies, announced the successful shipment of Conductus^® 2G HTS wire against previously announced purchase orders from three industry leading, multinational industrial companies. These shipments consisted of wire that attained critical current performance between 250 and 400 Amps per centimeter width (A/cm-width) for the various specific customer requests. As previously announced in April 2013, the company’s current wire production capacity for the next several months is allocated to ship against existing purchase orders for emerging smart grid applications. These initial shipments are being used for qualification testing in the various customers’ product designs for devices such as superconducting fault current limiters and HTS high field magnets used in multiple applications.

“Our customers are performing qualification testing of Conductus wire to complete their vendor selection process for upcoming projects,” stated Adam Shelton, STI’s VP of Marketing and Product Line Management. “These shipments represent a significant milestone for STI as our potential customers look to secure a supply of HTS wire for 2014 and beyond. With the customer qualification phase well underway, our important objective to establish commercial relationships with these customers is fast approaching. For our customers to successfully complete upcoming smart grid projects, they will require a significant quantity of superconducting wire at various lengths. Our wire performance, yields and wire length per run have dramatically improved over the first half of 2013. We expect our wire performance to continue to improve in these areas that are critical to achieving commercial volumes. By carefully aligning our 2013 production output with requirements from strategic target customers who are committed to the commercialization of superconducting devices, we are executing on our plan to bring Conductus wire to market in commercial volumes in 2014. We expect to continue to ship high performance, longer length wire to satisfy existing purchase orders for Conductus 2G HTS wire in the coming months.”

“Conductus wire is suitable for use in HTS power cables, superconducting high-field magnets, superconducting fault current limiters, and superconducting motors and generators applications. As the power industry continues to adopt HTS technology to address problems unsolvable by conventional means, STI is clearly focused on fostering customer relationships with leading, multi-national industrial companies with established sales channels to utilities. As our current wire capacity increases, our intention is to secure business with these customers as we prepare for the full commercial launch of Conductus wire in 2014 as we transition from pilot to full production,” Shelton concluded.

About Superconductor Technologies Inc. (STI)

Superconductor Technologies Inc., headquartered in Austin, TX, has been a world leader in HTS materials since 1987, developing more than 100 patents as well as proprietary trade secrets and manufacturing expertise. For more than a decade, STI has been providing innovative interference elimination and network enhancement solutions to the commercial wireless industry. The company is currently leveraging its key enabling technologies, including RF filtering, HTS materials and cryogenics to develop energy efficient, cost-effective and high performance second generation (2G) HTS wire for existing and emerging power applications, to develop applications for advanced RF wireless solutions and innovative adaptive filtering, and for government R&D. Superconductor Technologies Inc.’s common stock is listed on the NASDAQ Capital Market under the ticker symbol “SCON.” For more information about STI, please visit http://www.suptech.com.

Safe Harbor Statement

Statements in this press release regarding our business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors, which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include, but are not limited to: our limited cash and a history of losses; the limited number of potential customers; the limited number of suppliers for some of our components and our HTS wire; there being no significant backlog from quarter to quarter; our market being characterized by rapidly advancing technology; overcoming technical challenges in attaining milestones to develop and manufacture commercial lengths of our HTS wire; customer acceptance of our HTS wire; fluctuations in product demand from quarter to quarter; the impact of competitive filter products, technologies and pricing; manufacturing capacity constraints and difficulties; our ability to raise sufficient capital to fund our operations, and the impact on our strategic wire initiative of any inability to raise such funds; the impact of any such financing activity on the level of our stock price; and local, regional, and national and international economic conditions and events and the impact they may have on us and our customers, such as the current worldwide recession.

Forward-looking statements can be affected by many other factors, including, those described in the “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of STI’s Annual Report on Form 10-K for the year ended December 31, 2012 and in STI’s other public filings. These documents are available online at STI’s website, www.suptech.com, or through the SEC’s website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.

CONTACT: Investor Relations Contact
         Cathy Mattison or Kirsten Chapman
         LHA
         +1-415-433-3777
         invest@suptech.com

(FIRE) Cisco Announces Agreement to Acquire Sourcefire

Accelerates Cisco’s Security Vision of Continuous and Pervasive Advanced Threat Protection

(UPI) Completes Internal Control Review; Files Form 10-K for Fiscal 2013

No Changes to Previously Reported Results or Financial Statements Board of Directors Appoints Rob Kill President & Chief Executive Officer Fiscal 2014 First Quarter Results to be Released on August 1, 2013

MINNEAPOLIS, July 23, 2013 /PRNewswire/ — Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative products to treat voiding dysfunctions, announced today that it has filed its Annual Report on Form 10-K for the fiscal year ended March 31, 2013.  On June 14, 2013, Uroplasty indicated that it had delayed filing the Form 10-K to complete a review of its internal control over financial reporting.  Today, Uroplasty reported that it has completed that review.  Although the Company did uncover a material weakness in internal control during the review, that weakness did not result in any changes in previously announced financial results or financial statements for prior reporting periods.  As a result of the 10-K filing, the Company believes it is now compliant with all NASDAQ listing requirements.

In addition, Uroplasty announced today that the Board of Directors has appointed Robert C. Kill, who had been acting as interim Chief Executive Officer, as President and Chief Executive Officer. “During the past three months, the Board of Directors retained an executive search firm and conducted a thorough search for the most qualified candidate to lead our company going forward,” said James P. Stauner, Chairman of the Board.  “As part of our process, Rob accepted the invitation of the search committee to consider the more permanent position.  We concluded that given his previous experience as CEO of a high-growth public healthcare company, his track record of generating value for shareholders, and his knowledge of Uroplasty, Rob was the most qualified candidate for the role.  We are delighted he has agreed to lead Uroplasty as we seek to build momentum in the marketplace and increase shareholder returns.”

In addition to his service on the Uroplasty Board since 2010, Mr. Kill has been an operating partner of Altamont Capital Partners, a private equity firm, since 2012.  From 2007 until 2012, Mr. Kill was President and CEO of Virtual Radiologic Corporation (vRad), a provider of technology-enabled outsourced radiology solutions.  During his tenure with vRad, the company completed its IPO, was subsequently taken private in a $294 million transaction and completed several add-on acquisitions.  Prior to vRad, Mr. Kill was President of Misys Physician Systems, a developer of electronic medical record and practice management software.  Mr. Kill was with Baxter Healthcare for the first ten years of his career, where he held senior leadership roles in operations, marketing and sales.

Mr. Kill noted, “Uroplasty has significant potential in the overactive bladder market for patients who want effective therapies without the risks of implant surgery or the side effects of drugs or Botox.  The more I have learned about the markets we are addressing and Uroplasty’s pivotal role in those markets, the more enthusiastic I become about our prospects.”

Uroplasty also announced that Mahedi H. Jiwani, the Company’s Chief Financial Officer, has retired. The Company has commenced a search for a new Chief Financial Officer. Mr. Kill will hold the role of acting Chief Financial Officer until the position is filled.  “Medi had been Uroplasty’s CFO since 2005. We wish him well in his retirement, and thank him for his many years of service to the Company,” added Mr. Kill.

Fiscal 2014 First Quarter 2014 Conference Call

Uroplasty will release financial results for the fiscal first quarter ended June 30, 2013 at the market close on August 1, 2013.  The Company will host a conference call and webcast to discuss these results on August 1, 2013 at 4:30 p.m. Eastern Time (3:30 p.m. Central Time).  Individuals wishing to participate in the conference call should dial 877-941-2333.  No passcode is necessary.  To access the live webcast of the call, go to Uroplasty’s website at www.uroplasty.com and click on the Investor Relations section. An archived webcast will also be available at investor.uroplasty.com.

About Uroplasty, Inc.

Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a global medical company committed to offering transformative treatment options to specialty physicians. The Company’s products are designed to help providers change the lives of their voiding dysfunction patients and strengthen the efficiency of their practices. Uroplasty’s focus is the continued commercialization of its Urgent® PC Neuromodulation System, the only FDA-cleared system that delivers percutaneous tibial nerve stimulation (PTNS) for the office-based treatment of overactive bladder and associated symptoms of urgency, frequency and urge incontinence. The Company also offers Macroplastique®, an injectable urethral bulking agent for the treatment agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency. For more information on the company and its products, please visit Uroplasty, Inc. at www.uroplasty.com.

Forward-Looking Information

This press release contains forward-looking statements that reflect our best estimates regarding future events and financial performance. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our anticipated results. We discuss in detail the factors that may affect the achievement of our forward-looking statements in our Annual Report on Form 10-K filed with the SEC. In particular, we cannot be certain that we will ever achieve sustained profitability, that the rate of reimbursement for PTNS treatments will be adequate to justify the cost of our product, that other Medicare carriers or private payers will provide coverage for this treatment or that existing carriers and payers will not change their coverage decisions, that the rate of adoption of our products by new customers will continue, or that any of the other risks identified in our 10-K will not adversely affect our expectations as described in these forward-looking statements.

Contact:

EVC Group
Jenifer Kirtland
415.568.9349

(NBS) Appoints Stephen W. Potter as Executive Vice President

NEW YORK, July 22, 2013 (GLOBE NEWSWIRE) — NeoStem, Inc. (NYSE MKT:NBS) (“NeoStem” or the “Company”), a leader in the emerging cellular therapy market, announced today the appointment of Stephen W. Potter as Executive Vice President of the Company. Mr. Potter is a seasoned and successful senior executive with extensive management experience in the biotechnology and pharmaceutical industries.  Stephen has served since February on NeoStem’s Board of Directors and its Nominating and Governance Committee.  Upon his appointment as Executive Vice President, Stephen resigned from the Company’s Board of Directors.

“Stephen brings a history of success in cell therapy development and global operations and, combined with his existing working knowledge of both the research and operations of our Company, he will be a key figure in our future success,” said Dr. Robin L. Smith, Chairman and CEO of NeoStem. “As NeoStem moves forward in growing its contract development and manufacturing services business, continues the development and looks ahead to the commercial launch of its therapeutic product pipeline, and evaluates multiple business development opportunities, we expect Stephen’s demonstrated experience to have a significant impact on our Company’s value.”

“I am excited to join the NeoStem team, working collaboratively with its management and advisors, to drive significant value for the Company,” said Mr. Potter. “I believe that cell therapies will play a significant role in the fight against chronic disease. NeoStem has developed a unique platform of contract services as well as developing its own pipeline of cell therapy products and I am pleased to work with Dr. Robin Smith and the Company’s top notch team in the building of a world class, highly competitive and profitable business.”

Most recently, Mr. Potter served as Senior Vice President of Operations and Corporate Development for Osiris Therapeutics, Inc. where he worked as a member of the senior leadership that achieved approval of the first-ever stem cell drug therapy, Prochymal®. He was also responsible for the launch and overall management of the Bio-Surgery business unit and had operational oversight for multiple functional areas including manufacturing, human resources, IT, legal, and business development. Prior to his tenure at Osiris, Mr. Potter served as Senior Vice President of Corporate and Business Development at Genzyme Corporation. Over his ten years at Genzyme, he was the senior leader for its global corporate and business development team that provided strategic and transaction support, including support for many of Genyzme’s cell therapy opportunities. Mr. Potter has also held positions at DuPont Pharmaceuticals, E.I. Dupont de Nemours and Company, Inc., and Booz Allen & Hamilton. He earned a B.S. from University of Massachusetts and an MBA from Harvard Business School.

About NeoStem, Inc.

NeoStem, Inc. is a leader in the emerging cellular therapy industry. Our business model includes the development of novel proprietary cell therapy product, as well as operating a contract development and manufacturing organization that provides services to others in the regenerative medicine industry. The combination of a therapeutic development business and revenue-generating service provider business provides the Company with capabilities for cost effective in-house product development and immediate revenue and cash flow generation.

For more information, please visit: www.neostem.com

Forward-Looking Statements for NeoStem, Inc.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy, including with respect to the Company’s research and development and clinical evaluation efforts as well as efforts towards development of cellular therapies, including with respect to AMR-001, the future of the regenerative medicine industry and the role of stem cells and cellular therapy in that industry and the Company’s ability to successfully grow its contract development and manufacturing business. The Company’s actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the “Risk Factors” described in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 11, 2013 and in the Company’s periodic filings with the SEC. The Company’s further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.

CONTACT: NeoStem
         Dr. Robin L. Smith
         Chairman and CEO
         Phone: +1-212-584-4174
         Email: rsmith@neostem.com

(PETS) D/B/A 1-800-PetMeds Announces Q1 Financial Results

Quarterly Earnings Per Share Increase 22%

Quarterly New Order Sales Increase 10%

Quarterly Online Sales Increase 11%

POMPANO BEACH, Fla., July 22, 2013 (GLOBE NEWSWIRE) — PetMed Express, Inc. (Nasdaq:PETS) today announced its financial results for the quarter ended June 30, 2013. Net sales for the quarter ended June 30, 2013 were $74.2 million, compared to $69.0 million for the quarter ended June 30, 2012, an increase of 7.6%. Net income was $4.8 million, or $0.24 diluted per share, for the quarter ended June 30, 2013, compared to net income of $4.0 million, or $0.20 diluted per share, for the quarter ended June 30, 2012, a 22% increase to EPS. New order sales increased by 9.6%, from $13.9 million to $15.2 million for the quarters ended June 30, 2012 and 2013, respectively. The Company also acquired approximately 207,000 new customers for the quarter ended June 30, 2013, compared to 197,000 new customers for the quarter ended June 30, 2012. Reorder sales increased by 7.1%, from $55.1 million to $59.0 million for the quarters ended June 30, 2012 and 2013, respectively. Additionally, the Company’s online sales increased by 11% to $58.4 million for the quarter ended June 30, 2013, compared to $52.8 million for the same quarter the prior year, with approximately 79% of all orders being generated from its website during the quarter compared to 77% for the same quarter the prior year.

Menderes Akdag, CEO and President, commented: “We are pleased with the strong new order and reorder sales for the quarter. Our sales increase for the quarter was also highlighted by an increased average order size – $77 for the quarter ended June 30, 2013 compared to $73 for the same quarter in the prior year. For the quarter ended June 30, 2013 our operating expenses decreased by 109 basis points, mainly due to the leverage of our general and administrative expenses. Cash flow from operations increased by 44%, from $13.8 million to $19.8 million for the quarters ended June 30, 2012 and 2013, respectively. For the remainder of Fiscal 2014 we are focusing on improving our advertising efficiency and continuing to expand our product offerings.”

This morning at 8:30 A.M. Eastern Time, Mr. Akdag will host a conference call to review the quarter’s financial results. To access the call, which is open to the public, please dial (888) 455-1758 (toll free) or (203) 827-7025. Callers will be required to supply PETMEDS as the passcode. For those unable to participate in the live event, the call will be available for replay from 10:00 A.M. on July 22, 2013 until August 5, 2013 at 11:59 P.M. To access the replay, call (888) 562-2791 (toll free) or (402) 998-1448, and enter passcode 5500.

Founded in 1996, PetMed Express is America’s Largest Pet Pharmacy, delivering prescription and non-prescription pet medications and other health products for dogs and cats at competitive prices direct to the consumer through its 1-800-PetMeds toll free number and on the Internet through its website at www.1800petmeds.com.

This press release may contain “forward-looking” statements, as defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission, that involve a number of risks and uncertainties, including the Company’s ability to meet the objectives included in its business plan. Important factors that could cause results to differ materially from those indicated by such “forward-looking” statements are set forth in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the PetMed Express Annual Report on Form 10-K for the year ended March 31, 2013. The Company’s future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company’s Form 10-Q and its Annual Report on Form 10-K.

For investment relations contact PetMed Express, Inc., Bruce S. Rosenbloom, CFO, 954-979-5995.

CONTACT: PetMed Express, Inc.
         Bruce S. Rosenbloom, CFO
         954-979-5995

(TROV) Urine-based Cancer Detection Technology Validated

Trovagene develops ultra-sensitive cell-free DNA assay

SAN DIEGO, July 22, 2013 /PRNewswire/ — Trovagene, Inc. (NASDAQ: TROV) announces that results emerging from ongoing clinical studies have confirmed the broad applicability of Trovagene technology across a variety of cancer types, and the successful development of a molecular diagnostic test capable of detecting and quantifying oncogene mutations from a simple urine specimen.

The ability to regularly detect and monitor the results of cancer treatment through a non-invasive, systemic sample could significantly help patients who require therapy for recurrent or metastatic cancer.

Clinical validation of Trovagene’s ultra-sensitive assay procedure has been confirmed initially for detection of the BRAF mutation from cell-free (cf) DNA in urine. The cf-BRAF test will be available as a laboratory developed test (LDT) this quarter, and offered through the company’s CLIA lab.

“Our ability to detect and quantify oncogenic mutations in the urine of cancer patients represents a significant step towards better patient monitoring,” said Mark Erlander, Ph.D., chief scientific officer for Trovagene. “The analytic performance levels required to achieve this are made possible through the large sample volumes available from urine, combined with state-of-the-art digital PCR and sequencing platforms.”

Trovagene is developing numerous cell-free assays that target clinically actionable oncogene mutations, including BRAF, KRAS, PIK3CA and others. Given the recent approval of several new targeted therapies to treat BRAF-mutation positive melanoma, Trovagene prioritized the development of the BRAF assay to address the clinical need to monitor patient response to these therapies. BRAF mutations are prevalent in many different cancers. Trovagene’s cf-BRAF mutation assay is being validated across a range of solid tumors, confirming that urine-based mutation detection is applicable across many cancer types.

Building on this ability to detect single mutations, Trovagene is now developing assay panels to broaden its cancer monitoring capabilities using next-generation sequencing platforms. Many cancers exhibit multiple oncogenic mutations and genomic variations, and can develop new resistance mutations during the course of disease and treatment. Targeted cancer monitoring panels may provide a cost-effective way of following these patients throughout their disease as compared to current standard-of-care monitoring techniques, which include CT and PET scans.

“Measuring the genomic changes underlying a patients’ tumor can result in clinically actionable information that benefits the patient and the treating physician,” stated Antonius Schuh, Ph.D., chief executive officer of Trovagene. “The additional capability to non-invasively monitor a patients’ cancer in near-real time may improve the overall management of cancer, leading to better patient outcomes.”

About Trovagene, Inc.

Headquartered in San Diego, California, Trovagene is leveraging its patented technology for the detection of cell-free DNA and RNA, short nucleic acid fragments, originating from normal and diseased cell death that can be isolated and detected from urine. Trovagene has a strong intellectual property asset as it relates to cell-free DNA and RNA testing in urine. It has U.S. and European patent applications and issued patents that cover testing for HPV and other infectious diseases, cancer, transplantation, prenatal and genetic testing.

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimated” and “intend,” among others. These forward-looking statements are based on Trovagene’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our ability to continue as a going concern; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or fourth party payer reimbursement; limited sales and marketing efforts and dependence upon fourth parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. As with any medical diagnostic tests under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that future clinical trials discussed in this press release will be completed or successful or that any product will receive regulatory approval for any indication or prove to be commercially successful. Trovagene does not undertake an obligation to update or revise any forward-looking statement.  Investors should read the risk factors set forth in Trovagene’s Form 10-K for the year ended December 31, 2012 and other periodic reports filed with the Securities and Exchange Commission.

Contact:

Trovagene, Inc.

Stephen Zaniboni
Chief Financial Officer
Trovagene, Inc.
858-952-7594
szaniboni@trovagene.com

(HIMX) Signs Technology Investment Agreement With Google

Google to Invest in Himax LCOS Microdisplay Subsidiary

TAINAN, Taiwan, July 22, 2013 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq:HIMX) (“Himax” or “Company”), a supplier and fabless manufacturer of advanced display drivers and other semiconductor products, today announced that it has entered into an agreement (“the Agreement”) with Google Inc. pursuant to which Google has agreed to invest in the Company’s subsidiary, Himax Display Inc. (“HDI”). The purpose of the investment is to fund production upgrades, expand capacity and further enhance production capabilities at HDI’s facilities that produce liquid crystal on silicon (“LCOS”) chips and modules used in applications including head-mounted display (HMD) such as Google Glass, head-up display (HUD) and pico-projector products. Under the Agreement, Himax will also invest additional amount in HDI to fund its ongoing capacity expansion. HDI will also use a portion of the proceeds to substantially reduce its loan from Himax. The transaction is expected to close in the third quarter of 2013 subject to regulatory approvals and other closing conditions.

Under the Agreement, Google will purchase certain amount of preferred shares in HDI. Upon closing, Google will hold a 6.3% interest in HDI. Google also has an option to make additional investment of preferred shares at the same price within one year from closing. If the option is exercised in full, Google will own a total of up to 14.8% in HDI. Himax Technologies, Inc. holds 81.5% of HDI at present and will remain the major shareholder of HDI after the transaction. Google will join the core group of HDI shareholders including KPCB Holdings, Inc., Khosla Ventures I, L.P. and Intel Capital Corporation.

Google’s investment in HDI will not have a dilutive effect on Himax’s Nasdaq-traded shares, HIMX.

“Google is a preeminent global technology leader. We are delighted to receive this investment and to form a strategic partnership with Google,” stated Jordan Wu, President and Chief Executive Officer of Himax. “Beginning the second quarter of this year, we had already begun expanding capacity to meet demand for our LCOS product line. This investment from Google further validates our commitment to developing breakthrough technologies and state-of-the-art production facilities. We look forward to leveraging this investment and our collective expertise with Google to create unique and transformational LCOS technologies for many years ahead.”

Founded in 2004, Himax Display, Inc. has focused on developing commercial applications for LCOS technologies, in-house manufacturing expertise and production lines with proven, high-volume shipment track records. Over the last few years, HDI has devoted its research and development of its LCOS technology for new applications of head-mounted display and other wearable computing applications.

About Himax Technologies, Inc.

Himax Technologies, Inc. (HIMX) is a fabless semiconductor solution provider dedicated to display imaging processing technologies. Himax is a worldwide market leader in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and many other consumer electronics devices. Additionally, Himax designs and provides controllers for touch sensor displays, LCOS micro-displays used in palm-size projectors and head-mounted displays, LED driver ICs, power management ICs, scaler products for monitors and projectors, tailor-made video processing IC solutions and silicon IPs. The company also offers digital camera solutions, including CMOS image sensors and wafer level optics, which are used in a wide variety of applications such as mobile phone, tablet, laptop, TV, PC camera, automobile, security and medical devices. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 1,600 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan and the US. Himax has 1,981 patents granted and 1,196 patents pending approval worldwide as of June 30, 2013. Himax has retained its position as the leading display imaging processing semiconductor solution provider to consumer electronics brands worldwide.

http://www.himax.com.tw

Forward Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to, general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortages in supply of key components; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2012 filed with the SEC, as may be amended. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

CONTACT: Company Contacts:

         Jackie Chang, CFO
         Himax Technologies, Inc.
         Tel: 886-2-2370-3999 Ext.22300
         Or
         US Tel: +1-949-585-9838
         Ext.252
         Fax: 886-2-2314-0877
         Email: jackie_chang@himax.com.tw
         www.himax.com.tw

         Penny Lin, Investor Relations
         Himax Technologies, Inc.
         Tel: 886-2-2370-3999
         Ext.22320
         Fax: 886-2-2314-0877
         Email: penny_lin@himax.com.tw
         www.himax.com.tw

         Investor Relations - US Representative
         MZ North America
         John Mattio, SVP
         Tel: +1-212-301-7130
         Email: john.mattio@mzgroup.us
         www.mzgroup.us

(BCRX) Successfully Completes Its Phase 1 Clinical Trial of BCX416

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) today announced that the randomized, placebo-controlled, Phase 1 clinical trial of orally-administered BCX4161 in healthy volunteers successfully met all of its objectives. The safety, tolerability, drug exposure and on-target kallikrein inhibition results of this Phase 1 trial strongly support advancing the development program into a Phase 2a study in hereditary angioedema (HAE) patients.

Overall, 87 healthy volunteers completed the study; 30 received a single dose of BCX4161 from 50 mg up to 1000 mg, 40 subjects received 100 mg, 200 mg, 400 mg, or 800 mg BCX4161 every eight hours for seven days and 17 received placebo.

Oral administration of BCX4161 was generally safe and well tolerated. There were no serious adverse events and no dose limiting adverse events. Laboratory tests of coagulation remained normal. Drug exposure was dose proportional through 400 mg three times a day. Steady state (day seven) blood levels were 30% higher compared to the first day of dosing. At 400 mg three times a day, pre-dose geometric mean (coefficient of variance, CV) drug levels on day 7 were 28.6 ng/mL (CV 77%) and post-dose maximum drug levels were 152 ng/mL (CV 57%). Kallikrein inhibition was observed throughout the dosing interval, p<0.0001 compared to placebo.

“We are very pleased that this first-in-human trial of BCX4161 met all of its objectives. The safety, tolerability, level and consistency of drug exposure and kallikrein inhibition achieved significantly increases our confidence to move this program forward,” said Dr. William P. Sheridan, Chief Medical Officer at BioCryst. “We look forward to conducting a Phase 2 proof of concept study later this year to evaluate BCX4161’s ability to reduce the frequency of edema attacks in HAE patients.”

“The successful development of an oral kallikrein inhibitor such as BCX4161 for the prevention of HAE attacks is an exciting advance that has significant implications for HAE treatment,” said Dr. Bruce Zuraw, M.D., Professor, University of California, San Diego and Staff Physician at the V.A. Medical Center, San Diego. “If BCX4161 fulfills the promise shown in this study, it will provide a more effective alternative to androgens, currently the mainstay of oral HAE treatment, with substantially less side effects. BCX4161 has the potential to be an important new treatment for optimally managing patients with HAE.”

The Phase 2a clinical trial in patients with HAE is expected to begin in the fourth quarter of 2013. This trial will test 400 mg of BCX4161 administered three times daily for 28 days in a randomized, placebo-controlled, two-period cross-over design. Approximately 25 HAE patients who have a high frequency of attacks (≥ 1 per week) will be enrolled. The main goals for this clinical trial are to evaluate the safety and tolerability of BCX4161 and to estimate the degree of efficacy in reducing the frequency of attacks. This study is designed to provide proof of concept for oral kallikrein inhibition as a treatment strategy for hereditary angioedema.

As a part of BioCryst’s strategy to become a leader in the treatment of HAE, we are finalizing our evaluation of multiple potent and specific second generation oral kallikrein inhibitors. Oral bioavailability of these compounds ranges between 20% and 60% in animals. One or more candidates are expected to enter preclinical development by the end of 2013.

Conference Call and Web Cast

BioCryst’s management team will host a conference call and webcast today, July 22, 2013 at 8:30 a.m. Eastern Time to discuss the results of the BCX4161 Phase 1 trial and other aspects of BioCryst’s HAE development program. To participate in the conference call, please dial 1-877-303-8027 (United States) or 1-760-536-5165 (International). No passcode is needed for the call. The webcast can be accessed by logging onto http://www.biocryst.com. Please connect to the web site at least 15 minutes prior to the start of the conference call to ensure adequate time for any software download that may be necessary.

About BCX4161

Discovered by BioCryst, BCX4161 is a novel, selective inhibitor of plasma kallikrein in development for prevention of attacks in patients with hereditary angioedema (HAE). By inhibiting plasma kallikrein, BCX4161 suppresses bradykinin production. Bradykinin is the mediator of acute swelling attacks in HAE patients.

About Hereditary Angioedema

HAE is a rare, severely debilitating and potentially fatal genetic condition that occurs in about 1 in 10,000 to 1 in 50,000 people. HAE symptoms include recurrent episodes of edema in various locations, including the hands, feet, face, genitalia and airway. In addition, patients often have bouts of excruciating abdominal pain, nausea and vomiting that are caused by swelling in the intestinal wall. Airway swelling is particularly dangerous and can lead to death by asphyxiation. Further information regarding HAE can be found at www.haea.org.

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals designs, optimizes and develops novel small molecule drugs that block key enzymes involved in infectious and inflammatory diseases, with the goal of addressing unmet medical needs of patients and physicians. BioCryst currently has two late-stage development programs: peramivir, a viral neuraminidase inhibitor for the treatment of influenza, and ulodesine, a purine nucleoside phosphorylase (PNP) inhibitor for the treatment of gout. In addition, BioCryst has several early-stage programs: BCX4161 and a next generation oral inhibitor of plasma kallikrein for hereditary angioedema and BCX4430, a broad spectrum antiviral for hemorrhagic fevers. For more information, please visit the Company’s website at www.BioCryst.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding future results, performance or achievements. These statements involve known and unknown risks, uncertainties and other factors which may cause BioCryst’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. These statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Some of the factors that could affect the forward-looking statements contained herein include: that BioCryst may not be able to enroll the required number of subjects in the Phase 2a clinical trial of BCX4161; that the Phase 2a trial of BCX4161 may not have a favorable outcome or may not be successfully completed; that the FDA or similar regulatory agency may refuse to approve subsequent studies, or delay approval of clinical studies which may result in a delay of planned clinical studies and increase development costs of a product candidate; that the FDA may withhold market approval for product candidates; that ongoing and future preclinical and clinical development of HAE second generation candidates may not have positive results; that the Company or its licensees may not be able to continue future development of current and future development programs; that such development programs may never result in future product, license or royalty payments being received; that the Company may not be able to retain its current pharmaceutical and biotechnology partners for further development of its product candidates or may not reach favorable agreements with potential pharmaceutical and biotechnology partners for further development of product candidates. Please refer to the documents BioCryst files periodically with the Securities and Exchange Commission, specifically BioCryst’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and current reports on Form 8-K, all of which identify important factors that could cause the actual results to differ materially from those contained in BioCryst’s projections and forward-looking statements.

(BIIB) US and EU Regulatory Authorities Accept PLEGRIDY™ Marketing Applications

Today Biogen Idec (NASDAQ: BIIB) announced that U.S. and EU regulatory authorities have accepted the marketing applications for the review of PLEGRIDY™ (peginterferon beta-1a), the company’s pegylated subcutaneous injectable candidate for relapsing forms of multiple sclerosis (MS). The U.S. Food and Drug Administration (FDA) has accepted Biogen Idec’s Biologics License Application (BLA) for marketing approval of PLEGRIDY in the United States and granted the company a standard review timeline. The Marketing Authorisation Application (MAA) of PLEGRIDY for review in the European Union was also validated by the European Medicines Agency.

The regulatory applications included positive one-year results from the two-year global Phase 3 ADVANCE study. The data demonstrated that PLEGRIDY met all primary and secondary endpoints by significantly reducing disease activity including relapses, disability progression and brain lesions compared to placebo, and showed favorable safety and tolerability profiles at one year.

“We expect that interferons will remain an important and widely used option for patients with MS. At one-year, PLEGRIDY demonstrated significant reductions in relapses and disability progression, as well as a robust impact on several MRI endpoints,” said Douglas E. Williams, Ph.D., Biogen Idec’s executive vice president of Research and Development. “PLEGRIDY, if approved, could offer a less frequent dosing schedule, a favorable safety profile, and the potential to become the preferred interferon treatment.”

About PLEGRIDY

PLEGRIDY is a new molecular entity in which interferon beta-1a is pegylated to extend its half-life and prolong its exposure in the body. PLEGRIDY is a member of the interferon class of treatments, which is often used as a first-line treatment for MS.

About ADVANCE

The two-year Phase 3 ADVANCE clinical trial is a global, multi-center, randomized, double-blind, parallel-group, placebo-controlled study designed to evaluate the efficacy and safety of PLEGRIDY in 1,516 patients with relapsing-remitting MS.

The study investigates two dose regimens of PLEGRIDY, 125 mcg administered subcutaneously every two weeks or every four weeks compared to placebo. The analysis for all primary and secondary efficacy endpoints occurred at one year. After the first year, patients on placebo are re-randomized to one of the PLEGRIDY arms for the duration of the second year of the study. After completing two years in the ADVANCE study, patients have the option of enrolling in an open-label extension study called ATTAIN and will be followed for up to four years.

About Biogen Idec

Through cutting-edge science and medicine, Biogen Idec discovers, develops and delivers to patients worldwide innovative therapies for the treatment of neurodegenerative diseases, hemophilia and autoimmune disorders. Founded in 1978, Biogen Idec is the world’s oldest independent biotechnology company. Patients worldwide benefit from its leading multiple sclerosis therapies, and the company generates more than $5 billion in annual revenues. For product labeling, press releases and additional information about the company, please visit www.biogenidec.com.

Safe Harbor

This press release includes forward-looking statements, including statements about the potential of PLEGRIDY, including the dosage and related therapeutic effects of PLEGRIDY in MS. These forward-looking statements may be accompanied by such words as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “will,” and other words and terms of similar meaning. You should not place undue reliance on these statements. Drug development and commercialization involve a high degree of risk. Factors which could cause actual results to differ materially from our current expectations include the risk that unexpected concerns may arise from additional data or analysis, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates, or we may encounter other unexpected hurdles. For more detailed information on the risks and uncertainties associated with our drug development and commercialization activities, please review the Risk Factors section of our most recent annual or quarterly report filed with the Securities and Exchange Commission. These statements are based on our current beliefs and expectations and speak only as of the date of this press release. We do not undertake any obligation to publicly update any forward-looking statements.

(CPWR) to Announce First Quarter FY ’14 Results on July 23, 2013

DETROIT, July 19, 2013 (GLOBE NEWSWIRE) — Compuware Corporation (Nasdaq:CPWR), the technology performance company, today announced that it will report results for its fiscal 2014 first quarter – ended June 30, 2013 – after market-close on July 23, 2013. The company will also hold a conference call to discuss these results at 5 p.m. Eastern time on July 23.

To join the conference call, interested parties in the United States should call 800-230-1059. For international access, the conference call number is +1-612-234-9959. No password is required.

A conference call replay will also be available. The United States replay number will be 800-475-6701, and the international replay number will be +1-320-365-3844. The replay passcode will be 295782. Additionally, investors can listen to the conference call via webcast by visiting the Compuware Corporation Investor Relations web site at http://www.compuware.com.

Compuware Corporation

Compuware Corporation, the technology performance company, makes technology make a difference by providing software, experts and best practices to ensure technology works well and delivers value. Compuware solutions make the world’s most important technologies perform at their best for leading organizations worldwide, including 46 of the top 50 Fortune 500 companies and 12 of the top 20 most visited U.S. web sites. Learn more at: http://www.compuware.com.

CONTACT: Press Contact
         Lisa Elkin, Senior Vice President, Investor Relations,
         Marketing and Communications,
         lisa.elkin@compuware.com, 313-227-7345

         For Sales and Marketing Information
         Compuware Corporation, One Campus Martius,
         Detroit, MI 48226,
         800-521-9353, http://www.compuware.com

(SLTM) Sends Letter to Solta Demanding Formation of Special Committee

Voce Insists No Current Director is a Credible Choice to Replace CEO

Voce Capital Management LLC (“Voce”) today delivered a letter to the Board of Directors of Solta Medical, Inc. (“Solta”) (Nasdaq:SLTM) demanding the formation of a Special Committee to evaluate a strategic sale or merger of the Company.

In its letter, Voce criticized the Board for failing to heed previous calls to evaluate strategic alternatives, particularly in light of the defeat of management proposals, and strong expressions of shareholder dissatisfaction with the Company’s current strategy, at the recent annual meeting. Voce’s letter reiterates its previous statements that there is robust acquisition interest in Solta that the Company continues to shun. Specifically, Solta management has refused to entertain recent inbound acquisition interest from credible strategic acquirors.

Voce also addressed the Board’s consideration of possibly replacing Solta’s CEO, Mr. Fanning. Voce prefers that Solta vigorously pursue a sale of the Company rather than enduring the risks associated with a leadership transition at this time. “Replacing the CEO now will result in disruption and necessitate a transition (including the customary “honeymoon”), hindering the ability to conduct a sales process while a new leader makes changes and learns the ropes. The opportunity to create value through the immediate pursuit of strategic alternatives is too meaningful to endanger its prospects with a leadership change at this moment.”

Voce’s letter also admonished the Board not to attempt to install any current Director as CEO, even on an interim basis:

While we gather there are individual Directors interested in the job, with all due respect none of the current Directors would be an acceptable choice as Solta’s CEO. Four of the six independent Directors have been on the Board since the Reliant/Thermage merger; and one of those four actually joined the Board even earlier, with Mr. Fanning, and has served alongside him the entire time. These individuals bear ultimate responsibility for Solta’s operational and financial failures and for its discredited acquisition strategy . . . . Collectively, they have their fingerprints all over Solta’s current predicament and therefore none is a credible successor to Mr. Fanning. Solta has a number of serious challenges, not the least of which is its shattered credibility with the investment community; if a CEO change is to be made there is simply no way any of the current Directors can be effective in the role.

J. Daniel Plants, Voce’s Managing Partner, stated upon the sending of today’s letter: “Solta’s stock has staged an impressive rally since we got publicly involved on May 7, as anticipation grew within the investment community that Solta would undertake the review of strategic alternatives we’ve demanded. It’s those expectations, not Solta’s fundamentals, that continue to buoy the stock. The upcoming Q2 earnings call would therefore be an ideal time for Solta to announce the formation of the Special Committee and to begin its important work.”

About Voce Capital Management

Voce Capital Management LLC is an employee-owned investment manager and the adviser to Voce Catalyst Partners LP, a private investment partnership.

The full text of Voce’s letter follows.

July 19, 2013

Members of the Board of Directors
Solta Medical, Inc.
25881 Industrial Boulevard
Hayward, CA 94545

Attention: Corporate Secretary

Ladies and Gentlemen:

We write to continue the dialog that took place surrounding and during the shareholder meeting of Solta Medical, Inc. (“Solta” or the “Company”) on June 5, 2013. The overwhelming defeat of the proposal to double Solta’s authorized shares, and the withholding of a near-majority of votes for the Board reelection of the CEO, Mr. Fanning, were strong expressions of shareholder dissatisfaction with the Company’s current strategy. On balance we believe the annual meeting process and results have been constructive, but we have concerns about Solta’s direction from here and the choices presently before the Board. It’s unfortunate the Company canceled the meeting scheduled for July 17 with the Chairman to present our views; nonetheless, these matters are sufficiently urgent that we shall set them forth in writing. As a significant shareholder we invite further dialog with the Board and re-extend our offer to meet with you, collectively or individually, to discuss these matters.

* * *

When we first wrote to you on May 7, 2013, we analyzed the implications for Solta of the ongoing consolidation in the industry and urged you to “[i]mmediately pursue strategic sale discussions with other industry players, with the advice of independent financial and legal advisors.” Following the annual meeting, we “renew[ed] our call for the independent members of the Solta Board to review the full range of options available to increase shareholder value, including a strategic sale or merger of the Company.” Inexplicably Solta has ignored these demands. We can’t understand the Company’s failure to retain advisors to conduct such a review nor comprehend the Company’s refusal to consider the inbound acquisition interest it has recently received.

It bears repeating that there’s real and substantial acquisition interest in Solta. The aesthetic device space is rapidly coalescing around a limited number of platforms with both scale and scope. Solta has an attractive mix of assets other industry players covet and, as the largest remaining independent property, it’s already being sought by the industry consolidators. At the same time, Solta’s flabby operations provide juicy synergy opportunities for any horizontal consolidation play.

For these reasons, we are aware of at least three industry participants who are keenly interested in acquiring Solta. They’ve had previous conversations with Solta about combining, and have advisors at their disposal to assist them in pursuing a transaction. Recently (including after the annual meeting) interested parties approached management and were told that Solta was unwilling to entertain merger discussions or to even meet. We also understand that at the same time it’s shunning potential acquirors, management is exploring a potential buyout. We’re not fundamentally opposed to such a transaction if management can finance an attractive offer – more power to them, actually. But the Board must exercise its responsibility for oversight of any such discussions and they must be assessed as part of a comprehensive review of the Company’s alternatives.

The Board’s failure to date to evaluate alternatives – despite our repeated calls for it to do so; notwithstanding serious inbound interest; and in light of the potential for multiple, serious conflicts of interest from its continued inaction – leads us to conclude that its only option is to delegate this responsibility to a Special Committee of the Board. To be trusted by shareholders, the Special Committee must be comprised solely of independent directors who can oversee the evaluation of all such potential transactions, including those involving management; it must also retain its own legal and financial advisors who are independent of management. We believe the formation of a Special Committee in this circumstance is required by practice and custom; dictated by common sense; and essential to the Board’s execution of its fiduciary duties.

* * *

As the Board deliberates Mr. Fanning’s future, we question whether replacing him is the Company’s most pressing need at the moment. The Board’s decision following our June 10 release to separate the roles of Chairman and CEO was appropriate, if not long overdue, and reasserted to some degree the Board’s prerogative. At the same time, given the robust acquisition interest, a management change must be measured against the potential impact on the Company’s ability to pursue other strategic alternatives, which we believe are far superior. Replacing the CEO now will result in disruption and necessitate a transition (including the customary “honeymoon”), hindering the ability to conduct a sales process while a new leader makes changes and learns the ropes.¹ The opportunity to create value through the immediate pursuit of strategic alternatives is too meaningful to endanger its prospects with a leadership change at this moment.

If, however, the Board concludes that a change at the top is absolutely necessary, we’re emphatic that under no circumstances can Solta’s next CEO be appointed from the existing Board of Directors. While we gather there are individual Directors interested in the job, with all due respect none of the current Directors would be an acceptable choice as Solta’s CEO. Four of the six independent Directors have been on the Board since the Reliant/Thermage merger; and one of those four actually joined the Board even earlier, with Mr. Fanning, and has served alongside him the entire time. These individuals bear ultimate responsibility for Solta’s operational and financial failures and for its discredited acquisition strategy, including the most recent Sound Surgical transaction.² Collectively, they have their fingerprints all over Solta’s current predicament and therefore none is a credible successor to Mr. Fanning. Solta has a number of serious challenges, not the least of which is its shattered credibility with the investment community; if a CEO change is to be made there is simply no way any of the current Directors can be effective in the role.

* * *

Solta’s stock traded at $1.75 before we first wrote to you; it gained over 11% the day after we released our letter. The stock continued to appreciate through, and following, the annual meeting as anticipation grew within the investment community that you would undertake the review of strategic alternatives we’ve demanded. It’s those expectations, not Solta’s fundamentals, that continue to buoy the stock. The upcoming Q2 earnings call would therefore be an ideal time for Solta to announce the formation of the Special Committee and begin its work.

Respectfully yours,

VOCE CAPITAL MANAGEMENT LLC

¹ A temporary appointment doesn’t assuage this concern. In our experience that too is often merely a passage to the removal of the qualification “interim”, as the new executive auditions for a permanent role.

² Obviously, the one Director who joined the Board this year following the Sound Surgical acquisition bears no responsibility for the Board’s past actions.

(CLSN) and Zhejiang Hisun Pharma Sign MoU for ThermoDox®

Continuation of Technology Development and Commercial Supply Agreements for ThermoDox® in the Greater China Territory

LAWRENCEVILLE, N.J. and TAIZHOU CITY, China, July 19, 2013 /PRNewswire/ — Celsion Corporation (NASDAQ: CLSN), a leading oncology drug development company and Zhejiang Hisun Pharmaceutical Company Ltd. (SSE Code: 600267), a leading Chinese pharmaceutical company, announced today that they have entered into a Memorandum of Understanding to pursue ongoing collaborations for the continued clinical development of ThermoDox® as well as the technology transfer relating to the commercial manufacture of ThermoDox® for the greater China territory.   In June 2012, Celsion and Hisun signed a long-term commercial supply agreement for the production of ThermoDox®, Celsion’s proprietary heat-activated liposomal encapsulation of doxorubicin. Hisun is one the largest manufacturers of chemotherapy agents globally, including doxorubicin.  In January 2013, a Technology Development Agreement was signed whereby Hisun paid Celsion a non-refundable payment of $5 million in exchange for Celsion providing Hisun with support for its ThermoDox® manufacturing development program.  In addition, the expanded collaboration will focus on next generation liposomal formulation development with the goal of creating safer, more efficacious versions of marketed cancer chemotherapeutics.

Among the key provisions of the Celsion-Hisun collaboration are:

• Hisun will provide Celsion with non-dilutive financing and the investment necessary to complete the technology transfer of its proprietary manufacturing process and the production of registration batches for China;
• Hisun will collaborate with Celsion around the clinical and regulatory approval activities for ThermoDox® as well as other liposomal formations with the China state Food and Drug Administration (SFDA). A local China partner affords Celsion access to accelerated SFDA review and potential regulatory exclusivity for the approved indication; and
• Hisun will be granted a right of first offer for a commercial license to ThermoDox® for the sale and distribution of ThermoDox® in the greater China territory.

“We are delighted with our continuing collaboration with Hisun which serves multiple strategic purposes towards successful ThermoDox® drug development and eventual product launch in the China market, potentially the largest opportunity in the world for ThermoDox®,” said Michael H. Tardugno, Celsion’s President and Chief Executive Officer.  “Hisun represents an ideal strategic partner due to their regulatory and manufacturing expertise.  We will work very closely with Hisun to accelerate our drug development program in China for ThermoDox® in primary liver cancer and other indications.”

Mr. Hua Bai, CEO and Chairman of Hisun, stated, “We are pleased to announce our expanded collaboration with Celsion for the continued development of ThermoDox® to treat HCC to patients in China, the world’s largest market.  China is one of the countries with the highest HCC incidence and mortality and, up until now, there has not been any standard of care for treating intermediate HCC in China.  This joint effort will not only focus on ThermoDox for HCC and other indications but will also facilitate the local manufacturing and potential product launch in China, thereby providing physicians with more options for better care and prolonging the survival of patients.”

About ThermoDox®

ThermoDox® is a proprietary heat-activated liposomal encapsulation of doxorubicin, an approved and frequently used oncology drug for the treatment of a wide range of cancers. In the HEAT Study, ThermoDox® is administered intravenously in combination with RFA. Localized mild hyperthermia (39.5 – 42 degrees Celsius) created by the RFA releases the entrapped doxorubicin from the liposome. This delivery technology enables high concentrations of doxorubicin to be deposited preferentially in a targeted tumor.

For primary liver cancer, ThermoDox® is being evaluated in a 700 patient global Phase III study at 79 clinical sites under an FDA Special Protocol Assessment. The study is designed to evaluate the efficacy of ThermoDox® in combination with RFA when compared to patients who receive RFA alone as the control. On January 31, 2013, Celsion announced that ThermoDox® in combination with RFA did not meet the primary endpoint of the HEAT study in patients with hepatocellular carcinoma, also known as primary liver cancer.  Celsion has conducted a comprehensive analysis of the data from the Phase III HEAT Study with key principal investigators, data experts and liver cancer experts.  Emerging data from the HEAT Study post hoc analysis demonstrates that ThermoDox® markedly improves PFS and overall survival in patients if their lesions undergo RFA for 45 minutes or more.  These findings apply to HCC lesions from both size cohorts of the HEAT Study (3-5 cm and 5-7 cm) and represent a sizable subgroup of approximately 300 patients.

About Celsion Corporation

Celsion is dedicated to the development and commercialization of innovative cancer drugs, including tumor-targeting treatments using focused heat energy in combination with heat-activated liposomal drug technology. Celsion has research, license or commercialization agreements with leading institutions, including the National Institutes of Health, Duke University Medical Center, University of Hong Kong, the University of Pisa, the UCLA Department of Medicine, the Kyungpook National University Hospital, the Beijing Cancer Hospital and the University of Oxford. For more information on Celsion, visit our website: http://www.celsion.com.

About Zhejiang Hisun Pharmaceutical Company Ltd.

Founded in 1956, the mission for Zhejiang Hisun Pharmaceuticals Co., Ltd. (stock code 600267) hereinafter called “Hisun” is to be persistent in pharmaceutical innovation for humans’ well-being.  The company’s vision is to become a widely respected global pharmaceutical provider.  It focuses on the integration of pharmaceutical research and development (R&D) with production resources in order to provide its global customers with outstanding products and services.  To date, over 40 of the company’s products have passed certification by many regulatory agencies such as the FDA (U.S.), EDQM (EU), TGA (Australia) , and KFDA (Korea) and are sold to more than 30 countries worldwide.

Celsion wishes to inform readers that forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials; the significant expense, time, and risk of failure of conducting clinical trials; HEAT Study data is subject to further verification and review by the HEAT Study Data Management Committee; the need for Celsion to evaluate its future development plans; termination of the Technology Development Contract or collaboration between Celsion and HISUN at any time; possible acquisitions or licenses of other technologies, assets or businesses or the possible failure to make such acquisitions or licenses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Celsion ‘s periodic reports and prospectuses filed with the Securities and Exchange Commission. Celsion assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

Celsion Investor Contact
Jeffrey W. Church
Sr. Vice President and CFO
609-482-2455
jchurch@celsion.com

Hisun Investor Contact
Madam Zhang Wei
Stock600267@hisunpharm.com

(CXM) Cardium Completes Preferred Stock Financing

SAN DIEGO, July 19, 2013 /PRNewswire/ — Cardium Therapeutics (NYSE MKT: CXM) today announced the completion of the second tranche of its previously described registered direct offering consisting of an additional 1,656 shares of Series A convertible preferred stock for gross proceeds of approximately $1.7 million, bringing the total gross proceeds of the offering to approximately $4.0 million.  The shares were offered and sold pursuant to a prospectus supplement dated April 5, 2013 of a prospectus dated August 27, 2010, which is part of a registration statement on Form S-3 (Registration No. 333-168693) that was declared effective by the SEC on August 27, 2010.  A detailed description of the terms of the securities purchase agreement as well as the rights, privileges and preferences of the Series A Convertible Preferred Stock is contained in the Company’s Current Report on Form 8-K which was filed with the SEC on April 5, 2013.

About Cardium

Cardium is an asset-based health sciences and regenerative medicine company focused on the acquisition and strategic development of innovative products and businesses with the potential to address significant unmet medical needs and having definable pathways to commercialization, partnering or other economic monetizations. Cardium’s current portfolio includes LifeAgain medical data analytics, Tissue Repair Company, Cardium Biologics, and the Company’s To Go Brands^® nutraceutical business. The Company’s lead commercial product, Excellagen^® topical gel for wound care management, has received FDA clearance for marketing and sale in the United States.  Cardium’s lead clinical development product candidate Generx^® is a DNA-based angiogenic biologic intended for the treatment of patients with myocardial ischemia due to coronary artery disease. To Go Brands^® develops, markets and sells dietary supplements through established regional and national retailers.  In addition, consistent with its capital-efficient business model, Cardium continues to actively evaluate new technologies and business opportunities. For more information, visit www.cardiumthx.com.

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward looking and reflect numerous assumptions and involve a variety of risks and uncertainties that could impact our operations, business or other matters, as described in more detail in our filings with the Securities and Exchange; that planned product development efforts and clinical studies can be performed in an efficient and effective manner; that regulatory approvals can be obtained in a timely manner or at all; that partnering, distribution or other commercialization efforts can be achieved; that our products or proposed products will prove to be sufficiently safe and effective; that our products or product candidates will not be unfavorably compared to competitive products that may be regarded as safer, more effective, easier to use or less expensive; that third parties on whom we depend will behave as anticipated; or that necessary regulatory approvals will be obtained.  Actual results may also differ substantially from those described in or contemplated by this press release due to risks and uncertainties that exist in our operations and business environment, including, without limitation, risks and uncertainties that are inherent in the development, testing and marketing of biologics, medical devices and other products, and the conduct of human clinical trials, including the timing, costs and outcomes of such trials, whether our efforts to launch new products and expand our markets will be successful or completed within the time frames contemplated, our dependence upon proprietary technology, our ability to obtain necessary funding, regulatory approvals and qualifications, our history of operating losses and accumulated deficits, our reliance on collaborative relationships and critical personnel, and current and future competition, as well as other risks described from time to time in filings we make with the Securities and Exchange Commission.  We undertake no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof.

Copyright 2013 Cardium Therapeutics, Inc.  All rights reserved.

For Terms of Use Privacy Policy, please visit www.cardiumthx.com.

Cardium Therapeutics^®, Generx^®,Cardionovo^®, Tissue Repair™, Excellagen^®, Excellarate™, LifeAgain™, Genedexa™, Neo-Apps^®, MedPodium^®, Neo-Energy^®, Neo-Chill™ and Neo-Carb Bloc^® are trademarks of Cardium Therapeutics, Inc. or Tissue Repair Company.  To Go Brands^®,  High Octane^®, Green Tea Energy Fusion™, Acai Natural Energy Boost™, Greens to Go^®, Extreme Berries to Go^®, Healthy Belly^®, VitaRocks^®, Smoothie Complete^®, Trim Green Coffee Bean™, and Trim Energy^®, are trademarks of To Go Brands, Inc.  Other trademarks belong to their respective owners.

(GAME) Million Arthur Launch Ranks Top 3 Grossing on Apple’s App Store in China Inside 8 Hours

HONG KONG, July 18, 2013 /PRNewswire/ — Shanda Games Limited (NASDAQ: GAME, “Shanda Games”), a leading online game developer, operator and publisher in China, announced today that the iOS version of Million Arthur, a mobile game publishded by Shanda Games’ subsidiary Actoz Soft (KOSDAQ: 052790.KQ, “Actoz”), has become the 3^rd Top Grossing App across all categories on Apple’s App Store in China following its official open beta test launch on July 18, 2013.

“We are delighted with overwhelmingly enthusiastic response this game has received from gamers in China.  Through our extensive marketing effort and the strength of our operating plaform, we were able to reach our target audience of advanced casual gamers, students, and young professionals.  We launched Million Arthur at 10:30 am this morning and within 8 hours the game became the 3^rd Top Grossing App and is likely to continue to ascend before the day is over.  First-day daily active users (DAU) for China have exceeded Million Arthur’s combined DAUs following its first day in Japan, Korea, and Taiwan,” commented Mr. Tunghai Chien, President of Shanda Games.

“With a strong portfolio of games in the pipeline, we will continue to explore new opportunities in China’s burgeoning mobile games market through in-house development, licensing, investment and partnerships.  We expect to publish these new titles in China as well as abroad in the near future.”

Actoz shares closed at a record high on the Korean Stock Exchange.

Safe Harbor Statement

This announcement contains forward-looking statements.  These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.  Statements in this announcement that are not historical facts, including but not limited to statements regarding the future performance of Million Arthur and the launch schedule of other mobile games represent only the Company’s current expectations, assumptions, estimates and projections and are forward-looking statements.  These forward-looking statements involve various risks and uncertainties.  Important risks and uncertainties that could cause the Company’s actual results to be materially different from expectations include but are not limited to the risk that there are delays in the launch of, or the Company is unable to launch other mobile games as expected, and Million Arthur and other mobile games fail to meet the expectations of end users, as well as the risks set forth in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s annual report on Form 20-F.  The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Shanda Games

Shanda Games Limited (Nasdaq: GAME) is a leading online game developer, operator and publisher in China.  Shanda Games offers a diversified game portfolio, which includes some of the most popular massively multiplayer online (MMO) games and advanced casual games in China and in overseas markets, targeting a large and diverse community of users.  Shanda Games manages and operates online games that are developed in-house, co-developed with world-leading game developers, acquired through investments or licensed from third parties. For more information about Shanda Games, please visit http://www.ShandaGames.com.

Million Arthur is an online mobile card game developed by Square Enix, a leading game developer in Japan.  Based on the folklore surrounding King Arthur, gamers must recruit knights and collect resources on a quest as they fight against other players and in-game characters.  A freemium version of the game is available for download and employs an item-based revenue model.

About Actoz

Actoz Soft Co., Ltd. (Kosdaq: 052790.KQ) is a leading developer, operator and publisher of online games. Actoz holds co-copyrights to several of the leading online games in China, including Mir II and Mir III.  Actoz has also licensed online games to other markets, including Europe, Japan, India, Thailand, Singapore, Malaysia and Taiwan.  In addition, Actoz develops online games and operates certain online games in its home market of Korea.  For more information about Actoz, please visit http://www.actoz.com.

Contact

Shanda Games Limited:
Ellen Chiu, Investor Relations Director
Maggie Zhou, Investor Relations Associate Director
Phone: +86-21-5050-4740 (Shanghai)
Email: IR@ShandaGames.com

Christensen:
Christian Arnell
Phone: +86-10-5826-4939 (China)
Email: carnell@ChristensenIR.com

Linda Bergkamp
Phone: +1-480-614-3004 (U.S.A.)
Email: lbergkamp@ChristensenIR.com

(OXGN) Orphan Drug Status in Europe for ZYBRESTAT in Ovarian Cancer

SOUTH SAN FRANCISCO, Calif., July 18, 2013 (GLOBE NEWSWIRE) — OXiGENE, Inc. (Nasdaq:OXGN), a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer, announced that the European Medicines Agency (EMA) has granted orphan drug designation for ZYBRESTAT® (fosbretabulin tromethamine) for the treatment of ovarian cancer. Orphan drug designation in the European Union (EU) is given to products that are designed for the diagnosis, prevention or treatment of rare diseases that are life-threatening or very serious. A disease is defined as rare in the EU if it affects fewer than five in 10,000 people. Granting of orphan drug designation in the EU provides companies with development and commercial incentives, including a period of market exclusivity, access to a centralized review process, protocol assistance (scientific advice) and waiving of marketing and post-marketing authorization fees.

OXiGENE is developing ZYBRESTAT as a potential treatment for patients with advanced ovarian cancer. Data from a randomized, two-arm Phase 2 clinical trial testing the combination of ZYBRESTAT and Avastin® (bevacizumab) to treat patients with advanced ovarian cancer could be available in early 2014, and, if positive, could provide the basis for a registration program.

“Obtaining orphan drug status for ZYBRESTAT in the EU is an important milestone in advancing OXiGENE’s clinical strategy in ovarian cancer,” said Peter Langecker, M.D., Ph.D., OXiGENE’s Chief Executive Officer. “We are particularly excited about the ongoing GOG Phase 2 trial, as it is the first, and currently the only, randomized trial to test an anti-angiogenic therapeutic agent combined with a vascular disrupting agent in ovarian cancer, without including any cytotoxic chemotherapy. Both preclinically and clinically this combination has been shown to result in more significant reduction in blood flow that can starve and kill the tumor than either drug alone. Strategically it is important to note that in the EU Avastin® is already approved for the treatment of ovarian cancer as a single agent. We have been gratified by the broad interest in ZYBRESTAT within the worldwide oncology community, and look forward to advancing this program toward registration, either with the support of a corporate partner or on our own.”

The Phase 2 clinical trial of ZYBRESTAT and Avastin, called GOG186I, is being conducted by the Gynecologic Oncology Group under the sponsorship of Cancer Therapy Evaluation Program of the National Cancer Institute. This trial is also being performed in collaboration with Genentech, the manufacturer of Avastin. A total of 107 patients with advanced, platinum-sensitive and resistant ovarian cancer have been enrolled in this trial at over 80 clinical sites in the US. The primary endpoint of the trial is progression-free survival, and the trial is designed to detect a level of reduction in the hazard ratio of arm 2 to arm 1 of 37.5%. This result would be comparable to an increase of 50% to 65% in the cumulative proportion of patients alive and progression-free at five months in the arm treated with ZYBRESTAT plus Avastin. Secondary endpoints include safety, overall survival and objective responses by treatment. OXiGENE expects that an interim efficacy analysis will be conducted during the third quarter of 2013. The company will remain blinded to the data from this interim analysis.

About OXiGENE

OXiGENE is a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer. The Company’s major focus is developing vascular disrupting agents (VDAs) that selectively disrupt abnormal blood vessels associated with solid tumor progression. OXiGENE is dedicated to leveraging its intellectual property and therapeutic development expertise to bring life-extending and life-enhancing medicines to patients.

Safe Harbor Statement

This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any or all of the forward-looking statements in this press release, which include the timing of advancement, outcomes, and regulatory guidance relative to our clinical programs, achievement of our business and financing objectives, including the timing for an interim efficacy analysis and for receipt of preliminary data from the ongoing GOG 186I trial discussed in this press release, may turn out to be wrong. Forward-looking statements can be affected by inaccurate assumptions OXiGENE might make or by known or unknown risks and uncertainties, including, but not limited to, the inherent risks of drug development and regulatory review, and the availability of additional financing to continue development of our programs.

Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in OXiGENE’s reports to the Securities and Exchange Commission, including OXiGENE’s reports on Form 10-K, 10-Q and 8-K. However, OXiGENE undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise. Please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2012.

CONTACT: Investor and Media Contact:
         ir@oxigene.com
         650-635-7000

(OSTK) Overstock.com Reports Q2 2013 Results

Q2 2013 Revenue growth of 22% generates $3.7 million of net income

SALT LAKE CITY, July 18, 2013 /PRNewswire/ — Overstock.com, Inc. (NASDAQ: OSTK) today reported financial results for the quarter ended June 30, 2013.

Key Q2 2013 metrics (comparison to Q2 2012):

• Revenue: $293.2M vs. $239.5M (22% increase);
• Gross margin: 19.7% vs. 18.0% (170 basis point increase);
• Gross profit: $57.8M vs. $43.2M (34% increase);
• Sales and marketing expense: $19.2M vs. $13.5M (42% increase);
• Contribution (non-GAAP measure): $38.6M vs. $29.7M (30% increase);
• G&A/Technology expense: $34.5M vs. $29.6M (16% increase);
• Net income: $3.7M vs. $470,000 ($3.2M / 687% increase); and
• Diluted EPS: $0.15/share vs. $0.02/share ($0.13/share / 650% increase).

As previously announced, the Company will hold a conference call and webcast to discuss its Q2 2013 financial results today, Thursday, July 18, 2013, at 11:30 a.m. ET.

Webcast information

To access the live webcast and presentation slides, please go to http://investors.overstock.com. To listen to the conference call via telephone, dial (866) 551-1816 and enter conference ID 17544716 when prompted. Participants outside the United States or Canada who do not have Internet access should dial +1 (706) 758-1198 then enter the conference ID provided above.

A replay of the conference call will be available at http://investors.overstock.com starting two hours after the live call has ended. An audio replay of the webcast will be available via telephone starting at 2:30 p.m. ET on Thursday, July 18, 2013, through 11:59 p.m. ET on Sunday, August 18, 2013. To listen to the recorded webcast by phone, please dial (855) 859-2056 then enter the conference ID provided above. Outside the U.S. or Canada please dial +1 (404) 537-3406 and enter the conference ID provided above.

Please email questions to Mark Harden at mharden@overstock.com prior to the conference call.

Key financial and operating metrics:

Investors should review our financial statements and publicly-filed reports in their entirety and not rely on any single financial measure.

Net revenue — Total net revenue for Q2 2013 and 2012 was $293.2 million and $239.5 million, respectively, a 22% increase. The growth in net revenue was primarily due to a 21% increase in average order size, from $138 in Q2 2012 to $167 in Q2 2013.

Gross profit — Gross profit for Q2 2013 and 2012 was $57.8 million and $43.2 million, respectively, a 34% increase, representing 19.7% and 18.0% of total net revenue for those respective periods. The increase in gross profit was primarily due to higher revenue, a shift in product sales mix into higher margin home and garden products, and lower warehousing costs, partially offset by higher freight costs.

Contribution (a non-GAAP financial measure) and contribution margin (a non-GAAP financial measure) — Contribution for Q2 2013 and 2012 was $38.6 million and $29.7 million, respectively, a 30% increase. Contribution margin was 13.2% and 12.4% for those same periods.

Contribution (a non-GAAP financial measure) (which we reconcile to “gross profit” in our statement of income) consists of gross profit less sales and marketing expense and reflects an additional way of viewing our results. Contribution margin is contribution as a percentage of total net revenue. We believe contribution and contribution margin provides management and users of the financial statements information about our ability to cover our operating costs, such as technology and general and administrative expenses. Contribution and contribution margin are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. The material limitation associated with the use of contribution is that it is an incomplete measure of profitability as it does not include all operating expenses or non-operating income and expenses. Management compensates for these limitations when using this measure by looking at other GAAP measures, such as operating income and net income.

For further details on contribution and contribution margin, see the calculation of these non-GAAP financial measures and the reconciliation of contribution to gross profit below (in thousands):

Sales and marketing expenses — Sales and marketing expenses totaled $19.2 million and $13.5 million for Q2 2013 and 2012, respectively, a 42% increase, and representing 6.6% and 5.6% of total net revenue for those respective periods. The increase was primarily due to increased spending in the sponsored search marketing channel due to a higher proportion of our revenue coming through that channel.

Technology expenses — Technology expenses totaled $17.9 million and $15.1 million for Q2 2013 and 2012, respectively, a 19% increase, and representing 6.1% and 6.3% of total net revenue for those respective periods. The $2.8 million increase is primarily due to an increase in staff-related costs.

General and administrative (“G&A”) expenses — G&A expenses totaled $16.6 million and $14.5 million for Q2 2013 and 2012, respectively, a 14% increase, and representing 5.7% and 6.1% of total net revenue for those respective periods. The $2.1 million increase is primarily due to increased legal fees and staff-related costs.

Restructuring — Restructuring was a credit of $39,000 and zero for Q2 2013 and 2012, respectively. The credit in Q2 2013 is related to terminating our office space lease in Provo, Utah.

Operating income — Operating income was $4.2 million and $19,000 for Q2 2013 and 2012, respectively, a $4.1 million increase.

Interest income — Interest income was $32,000 and $27,000 for Q2 2013 and 2012, respectively.

Interest expense — Interest expense totaled $37,000 and $253,000 for Q2 2013 and 2012, respectively. The decrease is primarily due to our repayment of the $17.0 million in advances under the U.S. Bank Financing Agreement in November 2012.

Other income (expense), net — Other income (expense), net totaled ($150,000) and $719,000 for Q2 2013 and 2012, respectively. The $869,000 decrease is primarily related to an unrealized loss on our investment in precious metals and a decrease in Club O rewards breakage.

Income taxes — Income tax expense totaled $312,000 and $42,000 for Q2 2013 and 2012, respectively. The $270,000 increase is primarily related to higher net income.

Net income — Net income was $3.7 million and $470,000 for Q2 2013 and 2012, respectively, an increase of $3.2 million. Q2 2013 diluted earnings per share were $0.15, compared to $0.02 for Q2 2012.

Free cash flow (a non-GAAP financial measure) — Free cash flow totaled $46.3 million and $8.0 million for the twelve months ended June 30, 2013 and 2012, respectively. The $38.3 million increase was due to a $42.3 million increase in operating cash flows, partially offset by a $4.1 million increase in capital expenditures.

Free cash flow reflects an additional way of viewing our cash flows and liquidity that, when viewed with our GAAP results, provides a more complete understanding of factors and trends affecting our cash flows and liquidity. Free cash flow, which we reconcile to “net cash provided by (used in) operating activities,” is cash flow from operations reduced by “expenditures for fixed assets, including internal-use software and website development.” We believe that cash flows from operating activities is an important measure, since it includes both the cash impact of the continuing operations of the business and changes in the balance sheet that impact cash. However, we believe free cash flow is a useful measure to evaluate our business since purchases of fixed assets are a necessary component of ongoing operations and free cash flow measures the amount of cash we have available for mandatory debt service and financing obligations, changes in our capital structure, and future investments, after we have paid our operating expenses. Therefore, we believe it is important to view free cash flow as a complement to our entire consolidated statements of cash flows.

Our calculation of free cash flow is set forth below (in thousands):

Cash and working capital — We had cash and cash equivalents of $84.7 million and $93.5 million and working capital of $14.1 million and $7.5 million at June 30, 2013 and December 31, 2012, respectively.

About Overstock.com
Overstock.com (NASDAQ: OSTK) is an online discount retailer based in Salt Lake City, Utah that sells a broad range of products including furniture, rugs, bedding, electronics, clothing, jewelry and cars.  Worldstock.com, a fair trade department dedicated to selling artisan-crafted products from around the world offers additional unique items.  Main Street Revolution supports small businesses across the United States by providing them a national customer base.  The Nielsen State of the Media: Consumer Usage Report placed Overstock.com among the top five most visited mass merchandiser websites in 2011.  The NRF Foundation/American Express 2011 Customer Choice Awards ranked Ovestock.com #4 in customer service among all U.S. retailers.  Overstock.com sells internationally under the name O.co.  Overstock.com (http://www.overstock.com and http://www.o.co) regularly posts information about the company and other related matters under Investor Relations on its website.

Overstock.com®, O.co®, Worldstock Fair Trade® and Club O Rewards® are registered trademarks of Overstock.com, Inc.  O.info™, Club O™, Club O Dollars™ and Your Savings Engine™ are trademarks of Overstock.com, Inc.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Our Annual Report on Form 10-K for the year ended December 31, 2012, which was filed with the Securities and Exchange Commission on February 21, 2013, our Form 10-Q for the quarter ended March 31, 2013 which was filed with the Securities and Exchange Commission on April 25, 2013, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.

(CXM) Cardium Announces Reverse Stock Split

SAN DIEGO, July 18, 2013 /PRNewswire/ — Cardium Therapeutics (NYSE MKT: CXM) announced a 1-for-20 reverse split of the Company’s issued and outstanding common stock effective at the open of the NYSE MKT Exchange today, July 18, 2013.  Accordingly, each 20 shares of common stock and equivalents will be converted into one share of common stock.  In addition, proportional adjustments will be made to Cardium’s outstanding warrants and stock options.  As a result of the split, the number of shares of common stock to be received upon conversion of any of Cardium’s convertible preferred stock, including the preferred stock acquired in April 2013 and any additional shares, will be reduced by 20-fold. In addition, the conversion price of convertible preferred stock, which is subject to adjustment as previously described, will be increased by 20-fold.

At this morning’s market open, Cardium’s common stock will trade under new CUSIP number 141916304.  The Company’s trading symbol, CXM, will remain unchanged.  As a result of the reverse stock split, the number of issued and outstanding common shares will be reduced to approximately 6.5 million.  The number of authorized shares and the par value per share of common stock will remain unchanged.  No fractional shares of common stock will be issued as a result of the reverse stock split and shareholders of record will receive cash in lieu of fractional shares to which they would otherwise be entitled, based upon the price of Cardium’s common stock at close of market on July 17, 2013.

Cardium stockholders who hold their shares in certificated form will receive a communication from Computershare Trust Company regarding the exchange of outstanding stock certificates into new certificates or book entry form.

The Company has filed an amendment to its Restated Articles of Incorporation to effect the reverse stock split, which was authorized by stockholders at Cardium’s reconvened annual meeting of stockholders on July 2, 2013.  The reverse stock split was a condition of the April 2013 securities purchase agreement which was also approved by stockholders at the initial annual meeting of stockholders.  Cardium plans to complete the second closing of the remaining 1,656 shares of Series A convertible preferred stock under the registered direct offering for gross proceeds of approximately $1.7 million.

About Cardium

Cardium is an asset-based health sciences and regenerative medicine company focused on the acquisition and strategic development of innovative products and businesses with the potential to address significant unmet medical needs and having definable pathways to commercialization, partnering or other economic monetizations. Cardium’s current portfolio includes LifeAgain medical data analytics, Tissue Repair Company, Cardium Biologics, and the Company’s To Go Brands^® nutraceutical business. The Company’s lead commercial product, Excellagen^® topical gel for wound care management, has received FDA clearance for marketing and sale in the United States.  Cardium’s lead clinical development product candidate Generx^® is a DNA-based angiogenic biologic intended for the treatment of patients with myocardial ischemia due to coronary artery disease. To Go Brands^® develops, markets and sells dietary supplements through established regional and national retailers.  In addition, consistent with its capital-efficient business model, Cardium continues to actively evaluate new technologies and business opportunities. For more information, visit www.cardiumthx.com.

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward looking and reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control and may cause actual results to differ materially from expectations. For example, there is no assurance that planned product development efforts and clinical studies can be performed in an efficient and effective manner; that regulatory approvals can be obtained in a timely manner or at all; that partnering, distribution or other commercialization efforts can be achieved; that our products or proposed products will prove to be sufficiently safe and effective; that our products or product candidates will not be unfavorably compared to competitive products that may be regarded as safer, more effective, easier to use or less expensive; that third parties on whom we depend will behave as anticipated; or that necessary regulatory approvals will be obtained.  Actual results may also differ substantially from those described in or contemplated by this press release due to risks and uncertainties that exist in our operations and business environment, including, without limitation, risks and uncertainties that are inherent in the development, testing and marketing of biologics, medical devices and other products, and the conduct of human clinical trials, including the timing, costs and outcomes of such trials, whether our efforts to launch new products and expand our markets will be successful or completed within the time frames contemplated, our dependence upon proprietary technology, our ability to obtain necessary funding, regulatory approvals and qualifications, our history of operating losses and accumulated deficits, our reliance on collaborative relationships and critical personnel, and current and future competition, as well as other risks described from time to time in filings we make with the Securities and Exchange Commission.  We undertake no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof.

Copyright 2013 Cardium Therapeutics, Inc.  All rights reserved.
For Terms of Use Privacy Policy, please visit www.cardiumthx.com.

Cardium Therapeutics^®, Generx^®,Cardionovo^®, Tissue Repair™, Excellagen^®, Excellarate™, LifeAgain™, Genedexa™, Neo-Apps^®, MedPodium^®, Neo-Energy^®, Neo-Chill™ and Neo-Carb Bloc^® are trademarks of Cardium Therapeutics, Inc. or Tissue Repair Company.  To Go Brands^®,  High Octane^®, Green Tea Energy Fusion™, Acai Natural Energy Boost™, Greens to Go^®, Extreme Berries to Go^®, Healthy Belly^®, VitaRocks^®, Smoothie Complete^®, Trim Green Coffee Bean™, and Trim Energy^®, are trademarks of To Go Brands, Inc.  Other trademarks belong to their respective owners.

(ZHNE) Reports Second Quarter 2013 Financial Results

Zhone Technologies, Inc. (NASDAQ: ZHNE), a global pioneer in FTTx network access solutions, today reported its financial results for the second quarter ended June 30, 2013.

Revenue for the second quarter of 2013 was $30.0 million compared to $28.4 million for the first quarter of 2013 and $30.8 million for the second quarter of 2012. Net income for the second quarter of 2013, calculated in accordance with generally accepted accounting principles (“GAAP”), was $1.1 million or $0.03 per share compared with net income of $0.2 million or $0.01 per share for the first quarter of 2013 and a net loss of $2.1 million or $0.07 per share for the second quarter of 2012. Adjusted earnings before stock-based compensation, interest, taxes, and depreciation (“adjusted EBITDA”) was an adjusted EBITDA profit of $1.3 million for the second quarter of 2013, compared to an adjusted EBITDA profit of $0.6 million for the first quarter of 2013 and an adjusted EBITDA loss of $1.7 million for the second quarter of 2012.

“We’re pleased to announce that we achieved or exceeded our revenue, gross margin and expense targets for the quarter thereby generating positive free cash flow from operations,” stated Mory Ejabat, Zhone’s chief executive officer. “For the third quarter in a row, we have generated positive net income and cash flow from operations, further strengthening our financial position. We continue to focus on profitability as our number one financial objective and expect to improve that profitability in the second half of 2013.”

Cash, cash equivalents and short-term investments at June 30, 2013 was $12.7 million compared to $11.1 million at December 31, 2012.

Zhone will conduct a conference call and audio webcast today, July 17, 2013, at approximately 2:00 p.m. PT / 5:00 p.m. ET to review its second quarter 2013 results. This call is open to the public by dialing +1 (866) 314-5232 for U.S. callers and +1 (617) 213-8052 for international callers and then entering passcode 59793121. The audio webcast will be simultaneously available on the Investor Relations section of Zhone’s website at http://www.zhone.com/investors/.

A replay of the conference call will be available after the original call by dialing +1 (888) 286-8010 for U.S. callers and +1 (617) 801-6888 for international callers and then entering passcode 77481386. An audio webcast replay will also be available online at http://www.zhone.com/investors/ for approximately one week following the original call.

Non-GAAP Financial Measures

To supplement Zhone’s consolidated financial statements presented in accordance with GAAP, Zhone uses adjusted EBITDA, a non-GAAP measure Zhone believes is appropriate to enhance an overall understanding of Zhone’s past financial performance and prospects for the future. These adjustments to GAAP results are made with the intent of providing greater transparency to supplemental information used by management in its financial and operational decision-making. These non-GAAP results are among the primary indicators that management uses as a basis for making operating decisions because they provide meaningful supplemental information regarding the Company’s operational performance, including the Company’s ability to provide cash flows to invest in research and development, and to fund capital expenditures. In addition, these non-GAAP financial measures facilitate management’s internal comparisons to the Company’s historical operating results and comparisons to competitors’ operating results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. A reconciliation between net loss calculated on a GAAP basis and adjusted EBITDA on a non-GAAP basis is provided in a table immediately following the Unaudited Condensed Consolidated Statements of Comprehensive Loss.

About Zhone Technologies

Zhone Technologies, Inc. (NASDAQ: ZHNE) is a global leader in all IP multi-service access solutions, serving more than 750 of the world’s most innovative network operators. The IP Zhone is the only solution that enables service providers to build the network of the future…today, supporting end-to-end Voice, Data, Entertainment Social Media, Business, Mobile Backhaul and Mobility service. Zhone is committed to building the fastest and highest quality All IP Multi-Service solution for its customers. Zhone is headquartered in California and its products are manufactured in the USA in a facility that is emission, waste-water and CFC free.

Zhone, the Zhone logo, and all Zhone product names are trademarks of Zhone Technologies, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or products names are all subject to change without notice.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “target,” “will,” “would,” variations of such words, and similar expressions are intended to identify forward-looking statements. In addition, forward-looking statements include, among others, statements that refer to financial estimates; projections of revenue, margins, expenses or other financial items. Readers are cautioned that actual results could differ materially from those expressed in or contemplated by the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, commercial acceptance of the Company’s products; intense competition in the communications equipment market; the Company’s ability to execute on its strategy and operating plans; and economic conditions specific to the communications, networking, internet and related industries. In addition, please refer to the risk factors contained in the Company’s SEC filings available at www.sec.gov, including without limitation, the Company’s annual report on Form 10-K for the year ended December 31, 2012 and the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2013. 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. The Company undertakes no obligation to update or revise any forward-looking statements for any reason.

(UQM) Signs Three-Year Supply Agreement with Boulder Electric Vehicle

UQM Technologies, Inc. (NYSE MKT:UQM) electric motors and controllers will power Boulder Electric Vehicle’s all-electric commercial vehicles, including delivery vans for UPS and the Department of Defense SPIDERS program. UQM and Boulder Electric Vehicle have signed a new three-year supply agreement, making UQM the exclusive supplier of electric propulsion systems to the growing commercial vehicle manufacturer.

“We developed our PowerPhase HD^® 220 electric vehicle system with the torque and power that commercial vehicles need,” said Eric R. Ridenour, President and Chief Executive Officer of UQM Technologies, Inc. “This new supply agreement with Boulder Electric Vehicle expands our business with the company, providing them with the efficiency and quality advantages in an all-electric powertrain that their customers are looking for.”

The UQM PowerPhase HD 220 will be the core of the Boulder Electric Vehicle powertrain in its DV-500 commercial vehicle platform. This platform will support three all-electric models: delivery vans, flatbed trucks and service body trucks. Delivering 700 Nm of peak torque, 220kW of peak power and 120kW on a continuous basis, the PowerPhase HD 220 offers commercial trucks and buses an efficient path to the adoption of electric propulsion technology. UQM began shipping PowerPhase HD 220 systems under the agreement to Boulder Electric Vehicle in the past two months.

“In addition to the power level we wanted for our DV-500 all-electric platform, the UQM systems also provide outstanding efficiency, which will help us meet our driving range goals,” said Carter Brown, Chief Executive Officer of Boulder Electric Vehicle. “We have been very happy with the performance and efficiency of UQM systems previously incorporated into our vehicles, and we are looking forward to using the PowerPhase HD 220 system which was designed to meet the unique needs of commercial vehicles.”

The PowerPhase HD 220 was introduced in 2012, further expanding the systems that UQM offers for electric, hybrid and extended-range vehicles. UQM engineers and manufactures complete all-electric and hybrid-electric propulsion systems for applications ranging from small passenger cars to transit buses.

About Boulder Electric Vehicle

Boulder Electric Vehicle is a green tech manufacturing company that makes purpose-built, all-electric delivery trucks, work utility vehicles and cargo vans. These are designed from the ground up to meet the lightweight aerodynamic and safety needs of all-electric vehicles. Boulder Electric Vehicle has manufacturing facilities in Lafayette, Colorado and Los Angeles, California. Please visit www.boulderev.com for more information.

About UQM

UQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators and power electronic controllers for the automotive, commercial truck, bus, marine and military markets. A major emphasis for UQM is developing propulsion systems for electric, hybrid electric, plug-in hybrid electric and fuel cell electric vehicles. UQM is located in Longmont, Colorado. Please visit www.uqm.com for more information.

This Release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. These statements appear in a number of places in this Release and include statements regarding our plans, beliefs or current expectations, including those plans, beliefs and expectations of our officers and directors with respect to, among other things, future orders to be received, future financial results and the continued growth of the electric-powered vehicle industry. Important Risk Factors that could cause actual results to differ from those contained in the forward-looking statements are contained in our Form 10-K filed May 23, 2013, which is available through our website at www.uqm.com or at www.sec.gov.

(TTHI) FDA Grants Fast Track to ELND005 for Alzheimer’s

For further information on Transition, visit www.transitiontherapeutics.com or contact:

Dr. Tony Cruz
Chief Executive Officer
Transition Therapeutics Inc.
Phone: 416-260-7770, x.223
tcruz@transitiontherapeutics.com

(GFED) Announces Preliminary Second Quarter 2013 Financial Results

SPRINGFIELD, Mo., July 15, 2013 (GLOBE NEWSWIRE) — Guaranty Federal Bancshares, Inc., (Nasdaq:GFED), the holding company (the “Company”) for Guaranty Bank, today announces the following results for its second quarter ended June 30, 2013.

Second Quarter 2013 Financial Highlights

• Basic and diluted earnings per common share for the quarter increased to $0.50 and $0.49, respectively, compared to basic and diluted loss per common share of $(0.02) for the same quarter in 2012.
• Net income increased to $1.6 million for the quarter compared to $344,000 for the same quarter in 2012. This is also an increase from the $953,000 earned in the first quarter of 2013.
• Annualized return on average assets increased to .97% for the quarter compared to .21% for the same quarter in 2012.
• Annualized return on average equity increased to 12.33% for the quarter compared to 2.16% for the same quarter in 2012.
• Transaction deposit account balances as of June 30, 2013 increased $25.9 million, or 7%, since December 31, 2012.
• Long-term borrowings (classified as non-core funding liabilities) decreased $30.1 million as of June 30, 2013 compared to December 31, 2012.

Net income for the second quarter ended June 30, 2013 was $1,567,000 as compared to $344,000 for the same quarter in 2012. This is also an increase from the $953,000 earned in the first quarter of 2013. After preferred stock dividends and accretion, diluted earnings per common share was $0.49 for the quarter, an increase from the loss per diluted common share of $(.02) during the same quarter in 2012 and an increase from the $.25 per diluted common share earned in the first quarter of 2013.

The following were key issues that contributed to the second quarter operating results compared to the same quarter in 2012 and the financial condition results compared to December 31, 2012:

Net interest income – Improvement in net interest income and margin continues to be a primary objective for the Company. However, economic conditions, weak loan demand and the prolonged low interest rate environment have made it difficult to increase balances in the loan portfolio. Total net loans have declined $7.4 million since December 31, 2012 and $14.2 million since June 30, 2012 which has had a negative impact on interest income and net interest margin. Despite the decline in loans, net interest income and margin have increased slightly over the prior year quarter due to the Company’s efforts in growing core deposits and reducing non-core liabilities. Also, the Company has benefited from the continued repricing of its deposit products in the latter half of 2012 and into 2013 as well as the interest expense reduction from eliminating $30.1 million of wholesale funding balances (Federal Home Loan Bank advances and repurchase agreements) during the six month period ended June 30, 2013.   The average cost of funds for the quarter was .92% compared to 1.24% for the same quarter in 2012.

Non-interest income – Non-interest income increased $1.6 million during the quarter primarily due to the Company’s gains on investments and tax credit assets. In May 2013, the Company sold $3.7 million of investment securities and low-income housing tax credits for a gain of $1.5 million. With those proceeds and available cash, the Company prepaid a $15 million repurchase agreement (bearing annual interest at 2.60%) incurring a prepayment penalty of $1.5 million. The prepayment has allowed the Company to significantly reduce higher cost, non-core funding liabilities on its balance sheet and eliminate future annual interest expense of $390,000.

Non-interest expense – Non-interest expense increased $1.6 million over the prior year quarter primarily due to a $1.5 million prepayment penalty incurred on a structured transaction discussed above. All other non-interest expenses have been closely managed and controlled. Excluding the structured transaction, the Company’s efficiency ratio would have been 63.30% for the quarter, rather than 70.29%, and would have been an improvement over the same quarter in 2012.

Provision for loan loss expense and allowance for loan losses – Based on its reserve analysis and methodology, the Company recorded a provision for loan loss expense of $250,000 during the quarter, a decrease from the $2.1 million recognized in the prior year quarter. The allowance for loan losses as of June 30, 2013 was 1.79% of gross loans outstanding (excluding mortgage loans held for sale) compared to 1.84% as of December 31, 2012.

Capital – At June 30, 2013, as compared to December 31, 2012, stockholders’ equity decreased $2.4 million, with a corresponding reduction in book value per common share of $.95 to $13.39. This is due to a few factors. First, stockholders’ equity increased for the six month period due to $2.1 million in net income after preferred stock dividends and accretion. However, other factors reduced stockholders’ equity. In May 2013, the Company completed a $2 million repurchase of the warrant issued to the United States Department of the Treasury in 2009 as part of its Troubled Asset Relief Program’s Capital Purchase Program. The Treasury no longer has any equity interest in the Company which eliminates any potential shareholder dilution that would have occurred had the warrant been exercised rather than repurchased.  Also, as a result of increases in market interest rates on many debt securities during the quarter, the Company’s unrealized gains on available-for-sale securities declined $2.7 million at June 30, 2013 as compared to December 31, 2012. Despite the reduction in stockholders’ equity, the Company and the Bank’s regulatory capital ratios remain strong and well above regulatory requirements.

Non-performing assets – Compared to December 31, 2012, the Company experienced an improvement in nonperforming assets which were $19.7 million as of June 30, 2013. Nonperforming assets as a percentage of total assets was 3.08% as of June 30, 2013 compared to 3.01% as of December 31, 2012. The percentage increase is only due to the Company’s decline in total assets. Reducing non-performing assets has been and will continue to be a primary focus of the Company.

Non-Generally Accepted Accounting Principle (GAAP) Financial Measures

In addition to the GAAP financial results presented in this press release, the Company presents non-GAAP financial measures discussed below. These non-GAAP measures are provided to enhance investors’ overall understanding of the Company’s current financial performance. Additionally, Company management believes that this presentation enables meaningful comparison of financial performance in various periods. However, the non-GAAP financial results presented should not be considered a substitute for results that are presented in a manner consistent with GAAP. A limitation of the non-GAAP financial measures presented is that the adjustments concern gains, losses or expenses that the Company does expect to continue to recognize; the adjustments of these items should not be construed as an inference that these gains or expenses are unusual, infrequent or non-recurring. Therefore, Company management believes that both GAAP measures of its financial performance and the respective non-GAAP measures should be considered together.

Operating Income

Operating income is a non-GAAP financial measure that adjusts net income for the following non-operating items:

• Gains on sales of available-for-sale securities
• Losses on foreclosed assets held for sale
• Gains on sales of Missouri low-income housing tax credits
• Prepayment penalty on repurchase agreements
• Charge for loss on deposit accounts
• Provision for loan loss expense
• Provision (credit) for income taxes

A reconciliation of the Company’s net income to its operating income for the three and six months ended June 30, 2013 and 2012 is set forth below.

About Guaranty Federal Bancshares, Inc.

Guaranty Federal Bancshares, Inc. (Nasdaq:GFED) has a subsidiary corporation offering full banking services. The principal subsidiary, Guaranty Bank, is headquartered in Springfield, Missouri, and has nine full-service branches in Greene and Christian Counties and a Loan Production Office in Webster County. In addition, Guaranty Bank is a member of the TransFund ATM network which provides its customers surcharge free access to over 100 area ATMs and over 1,600 ATMs nationwide. For more information visit the Guaranty Bank website: www.gbankmo.com.

The discussion set forth above may contain forward-looking comments. Such comments are based upon the information currently available to management of the Company and management’s perception thereof as of the date of this release. When used in this release, words such as “anticipates,” “estimates,” “believes,” “expects,” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Such statements are subject to risks and uncertainties. Actual results of the Company’s operations could materially differ from those forward-looking comments. The differences could be caused by a number of factors or combination of factors including, but not limited to: changes in demand for banking services; changes in portfolio composition; changes in management strategy; increased competition from both bank and non-bank companies; changes in the general level of interest rates; the effect of regulatory or government legislative changes; technology changes; fluctuation in inflation; and other factors set forth in reports and other documents filed by the Company with the Securities and Exchange Commission from time to time.

CONTACT: Shaun A. Burke, President & CEO or Carter M. Peters, CFO
         1341 W. Battlefield
         Springfield, MO 65807
         417.520.4333

(FFEX) Enters Into Merger to be Acquired by Duff Brothers for $2.10 Per Share in Cash

DALLAS and COLUMBIA, Miss., July 15, 2013 (GLOBE NEWSWIRE) — Frozen Food Express Industries, Inc. (Nasdaq:FFEX) (“FFE” or the “Company”) and Duff Brothers Capital Corporation today announced they have entered into a definitive agreement pursuant to which Duff Brothers Capital Corporation will offer to acquire all of the outstanding shares of common stock of FFE (except shares owned by its affiliates) for $2.10 in cash per share of common stock. Duff Brothers Capital Corporation is wholly owned by Thomas and James Duff, who also indirectly own KLLM Transport Services, LLC. The transaction, which values FFE at approximately $38.2 million in equity value, was unanimously approved by the FFE Board of Directors.

“For over a year, we have been reviewing a variety of strategic alternatives for FFE, which included exiting less profitable businesses, such as dry van truckload services, entering into the bulk tank water transportation business, and re-engineering our LTL services with technology enhancements that further differentiate our service offerings in the marketplace,” said Russell Stubbs, President and CEO of FFE. “As part of this process, we were pleased when the Duffs expressed an interest in FFE. We believe the value of this transaction achieves our objective of delivering immediate and compelling value for our shareholders. Through the Duff’s ownership of KLLM, they have demonstrated a strong track record in the trucking industry, which will be beneficial to our customers, vendors, employees and drivers.”

On behalf of James and Thomas Duff, Mr. Thomas Duff stated that, “We are excited about the opportunity to add another leader in the temperature controlled trucking industry to our family group of businesses. With the synergies and increased capacity that we can gain from the ownership of both FFE and KLLM, we know that we will be able to enhance the quality service that both companies have been providing to their customers. With our resources, we will be able to bring to FFE the financial strength that is needed to preserve and expand its operations for its valued employees for years to come. Overall, we see great things ahead for both of the companies.”

Under the terms of the merger agreement, FFE’s stockholders will receive $2.10 in cash for each outstanding share of FFE common stock they own, representing a 23.5% premium over the closing price on July 12, 2013, the last full trading day before today’s announcement, a 26.5% premium over the closing price on March 1, 2013, the last full trading day before the announcement that the Duffs had acquired approximately 5.84% of the outstanding shares of common stock of FFE and expressed an intent to discuss with FFE a negotiated acquisition and a 144.2% premium over the closing price on December 18, 2012, the last full trading day before the Duffs began open market purchases of FFE shares with a view towards accumulating a significant position.

The transaction is expected to close by late August or early September 2013.

In accordance with the terms of the merger agreement, Duff Brothers Capital Corporation will commence a tender offer for all of the outstanding shares of common stock of FEE not already owned by the Duffs or their affiliates. FFE’s Board of Directors has unanimously recommended that the FFE shareholders tender their shares into the offer. Under the terms of the agreement, the transaction is conditioned upon satisfaction of the minimum tender condition of greater than two-thirds of the outstanding shares of FFE common stock when added to the shares then beneficially owned by Duff Brothers Capital Corporation and its affiliates and other customary closing conditions. Consummation of the transactions contemplated by the merger agreement is not subject to a financing condition and Duff Brothers Capital Corporation will pay the offer price from cash resources on hand.

Concurrent with the execution and delivery of the merger agreement, Stoney M. Stubbs, Jr., FFE’s Chairman of the Board, Russell Stubbs, FFE’s President and CEO, and John Hickerson, FFE’s Executive Vice President and Chief Operating Officer, representing in the aggregate approximately 12.8% of the outstanding shares of FFE common stock have each entered into separate agreements with Duff Brothers Capital Corporation and Duff Brothers Subsidiary, Inc. pursuant to which each has agreed to tender the shares of common stock beneficially owned by them into the tender offer, as well as providing certain covenants and releases related to the transactions contemplated by the merger agreement.

Stephens Inc. is acting as exclusive financial advisor to the FFE Board of Directors and provided a fairness opinion to the FFE Board of Directors. Baker & McKenzie LLP is acting as legal counsel to the FFE Board of Directors. Krage & Janvey, L.L.P. is acting as legal counsel to Duff Brothers Capital Corporation.

Additional Information and Where to Find It

The tender offer described in the communication has not yet commenced and this communication is neither an offer to purchase nor a solicitation of an offer to sell shares of common stock of Frozen Food Express Industries, Inc. (“FFE”). At the time the tender offer is commenced, Duff Brothers Capital Corporation will file with the SEC a Tender Offer Statement on Schedule TO, and FFE will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. FFE stockholders and other investors are strongly advised to read the tender offer materials (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents) and the Solicitation/Recommendation Statement, as they may be amended from time to time, because they will contain important information which should be read carefully before any decision is made with respect to the tender offer. The Offer to Purchase, the related Letter of Transmittal and certain other offer documents, as well as the Solicitation/Recommendation Statement, will be made available to all FFE stockholders at no expense to them. The Tender Offer Statement and the Solicitation/Recommendation Statement will also be available for free at the SEC’s website at www.sec.gov. Free copies of these materials and other tender offer documents will also be made available by the information agent for the tender offer.

In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, FFE files annual, quarterly and special reports, proxy statements and other information with the SEC. You may read and copy any reports, statements or other information filed by FFE at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. FFE’s filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at www.sec.gov.

About FFE

Frozen Food Express Industries, Inc. is one of the leading temperature-controlled truckload and less-than-truckload carriers in the United States with core operations in the transport of temperature-controlled products and perishable goods including food, health care and confectionery products. Service is offered in over-the-road and intermodal modes for temperature-controlled truckload and less-than-truckload, as well as dry truckload on a non-dedicated fleet basis. We also provide bulk tank water transportation, brokerage/logistics and dedicated services to our customers. Additional information about FFE can be found at www.ffeinc.com.

Forward-Looking Statements

This communication 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, relating to the acquisition of FFE by Duff Brothers Capital Corporation.  All statements relating to plans, strategies, objectives, expectations and intentions, all statements identified by words such as “will”, “could”, “should”, “believe”, “expect”, “intend”, “plan”, “schedule”, “estimate”, “project”, and similar expressions and all statements other than historical facts included in this communication, including, but not limited to, the statements regarding the timing and the closing of the tender offer and merger transactions, the expected benefits of the transaction, any plans to operate FFE post-closing and any assumptions underlying any of the foregoing, are forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown, or unknown risks or uncertainties materialize, actual results could vary materially from expectations and projections. Risks and uncertainties include, among other things, uncertainties as to the timing of the tender offer and merger; uncertainties as to how many of FFE’s stockholders will tender their stock in the tender offer; the possibility that various closing conditions to the tender offer and merger transactions may not be satisfied or waived, including that a governmental entity may prohibit, delay, or refuse to grant approval for the consummation of the transaction; that there is a material adverse change to FFE; any material adverse development in pending or threatened litigation involving FFE; other business effects, including effects of industry, economic or political conditions outside FFE’s control; transaction costs; actual or contingent liabilities; as well as other cautionary statements contained elsewhere herein and in FFE’s periodic reports filed with the SEC including current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K. Given these uncertainties, you should not place undue reliance on these forward-looking statements, which apply only as of the date of this communication. FFE expressly disclaims any intent or obligation to update these forward-looking statements except as required by law. Additional information about FFE is available at www.ffeinc.com.

CONTACT: Frozen Food Express Industries, Inc.

         Russell Stubbs, President and CEO
         John Hickerson, EVP and COO
         Steve Stedman, VP and Interim CFO
         (214) 630-8090

(COGO) Chairman and CEO Proposes Acquiring 30.4% of Cogo Net Assets

– Upon completion of the transaction, Net Asset Value of Cogo shares is expected to be more than $6 a share, compared to the current share price of [1]$2.05 a share. – Such assets represent approximately 30.5% of Cogo’s net assets, generated approximately 98.7% of its revenues and 66.5% of its gross profits as of the first quarter of 2013.

SHENZHEN, China, July 15, 2013 /PRNewswire/ — Cogo Group, Inc. (“Cogo,” or the “Company”) (NASDAQ: COGO), a leading gateway for global semiconductor companies to access the industrial and technology markets in China, today announced that its founder, CEO and Chairman, Jeffrey Kang, submitted a proposal to the Cogo Board of Directors for the purchase of approximately 30.5% of Cogo’s net assets, which as of the first quarter of 2013, generated approximately 98.7% of Cogo’s revenues through a company he wholly owns, Brilliant Group Global Limited (“Brilliant Group”).

The proposed purchase price is US$80 million. Mr. Kang has proposed that the transaction close before the end of 2013. Since this is a related-party transaction, the Board of Directors has delegated the review and negotiation of the potential transaction to the Company’s Audit Committee, which is comprised of three independent directors. The Audit Committee is expected to oversee the entire process. In accordance with the Company’s organizational documents, the Company anticipates that it will hold a meeting of stockholders to approve the transaction if the transaction is approved by Audit Committee.

As a condition of the proposed transaction, Brilliant Group would be required to pay $750,000 to Cogo on a quarterly basis for Cogo’s remaining subsidiaries and the target companies to continue to provide cross guarantees to each other until the end of 2014. Consideration is proposed to be payable in 2 installments, of which $10 million would be payable on Closing and $70 million by the end of 2013.

Upon completion of the transaction, Net Asset Value of Cogo shares is expected to be more than $6 a share. At the NASDAQ close on July 12, 2013, Cogo’s share price was $2.05 a share.

Based on Cogo’s Q1 2013 unaudited results as filed on Form 6-K on May 31, 2013, the proposed target assets represent approximately 30.5% of the Company’s net assets, 98.7% of its revenues and 66.5% of its gross profit.

A portion of the proceeds of the sale will be reserved for Cogo’s buyback program. There are more than 3.6 million outstanding shares under Cogo’s current buyback program authorized for repurchase out of the original 10 million shares. Management plans to authorize another plan to repurchase up to 10 million shares upon completion of the current program. As of July 12, 2013, there are approximately 29.4 million outstanding shares, of which insiders own approximately 40.8%. The Company will continue to disclose all material information relating to the proposed transaction in order to be able to continue to execute buyback program in accordance with applicable securities law requirements.

“This proposed deal is set to maximize shareholder value, and I am excited about what it means for our shareholders,” said Mr. Kang. “Upon the completion of this deal, Cogo is estimated to have more than $140 million net cash based on Q1’s financials and other assets, and a small amount of higher margin services and system solution revenue. The deal will help the Company evolve into a light asset, service revenue oriented business. The Company has no intention to dissolve or go private. The plan is to maintain the Company’s listing position with a business focus that aims to create greater value for shareholders.”

About Cogo Group, Inc.:
Cogo Group, Inc. (Nasdaq: COGO) is the leading gateway for global semiconductor companies to access the rapidly growing Industrial and Technology sectors in China. Through its unique business-to-business services platform, Cogo designs customized embedded solutions using technology from suppliers including Broadcom, Xilinx, Atmel and others for a customer base of over 2,100 Chinese OEMs/ODMs. Cogo’s customer list includes approximately 100 blue-chip companies, including ZTE, BYD and NARI, as well as nearly 2,000 Small and Medium Enterprises (SMEs). The Company serves a broad list of rapidly growing end-markets in China, including 3G Smartphones, Tablets, Automotives, High-Speed Railway, Smart Meter/Smart Grid, Healthcare and High Definition Television “HDTV.”

For further information:
Investor Relations

www.cogo.com.cn/investorinfo.html
communications@cogo.com.cn
H.K.:   +852 2730 1518
U.S.:    +1 (646) 291 8998
Fax:     +86 755 2674 3522

Safe Harbor Statement:
This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include statements about our proposed discussions related to our business or growth strategy such as growth in new business initiatives or potential disposals and acquisitions, all of which are subject to change. Such information is based upon expectations of our management that were reasonable when made, but may prove to be incorrect. All such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. For further descriptions of other risks and uncertainties, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 20-F, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC’s electronic data gathering analysis retrieval system (EDGAR) at www.sec.gov.

[1] Closing price as of July 12, 2013