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Former Taliban fighters are waiting for the de facto government to rebuild By Steve Inskeep Published August 15, 2022 at 4:13 AM CDT Facebook Twitter LinkedIn Email Listen • 7:01 People of Afghanistan's Tangi Valley celebrated the Taliban takeover one year ago. Now, what do they want from their government? Copyright 2022 NPR | https://www.keranews.org/2022-08-15/former-taliban-fighters-are-waiting-for-the-de-facto-government-to-rebuild | 2022-08-15T10:43:19Z |
In the U.S., racing on gravel roads has become the dominant form of bike racing in just a few years. Organizers have prioritized diversity and inclusiveness in a way that other sports have not.
Copyright 2022 North Carolina Public Radio – WUNC
In the U.S., racing on gravel roads has become the dominant form of bike racing in just a few years. Organizers have prioritized diversity and inclusiveness in a way that other sports have not.
Copyright 2022 North Carolina Public Radio – WUNC | https://www.keranews.org/2022-08-15/gravel-bike-racing-focuses-on-diversity-and-inclusion-and-its-popularity-soars | 2022-08-15T10:43:25Z |
Doug Ford, the provincial premier, was talking with reporters when he swallowed the bee. He promised to go straight to the hospital, and predicted that the incident would be funny later.
Copyright 2022 NPR
Doug Ford, the provincial premier, was talking with reporters when he swallowed the bee. He promised to go straight to the hospital, and predicted that the incident would be funny later.
Copyright 2022 NPR | https://www.keranews.org/2022-08-15/in-canada-the-leader-of-ontario-inadvertently-swallows-a-bee | 2022-08-15T10:43:31Z |
Seventy-five years ago, colonial India was partitioned into two new nations — Muslim-majority Pakistan and Hindu-majority India. There was a massive migration between the two — and bloodshed.
Copyright 2022 NPR
Seventy-five years ago, colonial India was partitioned into two new nations — Muslim-majority Pakistan and Hindu-majority India. There was a massive migration between the two — and bloodshed.
Copyright 2022 NPR | https://www.keranews.org/2022-08-15/india-is-celebrating-75-years-of-independence-from-britain | 2022-08-15T10:43:37Z |
Title X, the federal family planning program, was created in 1970. Advocates say it has always been underfunded, and that restrictions on abortion access means money is needed now more than ever.
Copyright 2022 VPM
Title X, the federal family planning program, was created in 1970. Advocates say it has always been underfunded, and that restrictions on abortion access means money is needed now more than ever.
Copyright 2022 VPM | https://www.keranews.org/2022-08-15/its-been-more-than-50-years-since-congress-created-a-federal-family-planning-program | 2022-08-15T10:43:47Z |
Fighting at Europe's largest nuclear power plant, now occupied by Russia, turns a Ukrainian city across the river into a target for Russian missiles and a danger zone for a nuclear accident.
Copyright 2022 NPR
Fighting at Europe's largest nuclear power plant, now occupied by Russia, turns a Ukrainian city across the river into a target for Russian missiles and a danger zone for a nuclear accident.
Copyright 2022 NPR | https://www.keranews.org/2022-08-15/missile-strikes-near-a-nuclear-power-plant-in-ukraine-leave-residents-on-edge | 2022-08-15T10:43:53Z |
Morning news brief By Steve Inskeep, Leila Fadel Published August 15, 2022 at 4:13 AM CDT Facebook Twitter LinkedIn Email Listen • 11:02 It's been a year since the Taliban seized power in Kabul. Threats against the FBI from Trump supporters are up. Fighting around a Ukrainian nuclear power plant raises fears of a nuclear accident. Copyright 2022 NPR | https://www.keranews.org/2022-08-15/morning-news-brief | 2022-08-15T10:43:59Z |
On Alaska's Yukon River, residents usually depend on catching salmon to eat all year. This year, a disruption in the supply of fish, in addition to inflation, is galvanizing a food crisis.
Copyright 2022 KYUK
On Alaska's Yukon River, residents usually depend on catching salmon to eat all year. This year, a disruption in the supply of fish, in addition to inflation, is galvanizing a food crisis.
Copyright 2022 KYUK | https://www.keranews.org/2022-08-15/scientists-scramble-to-explain-why-western-alaska-wild-salmon-stocks-are-low | 2022-08-15T10:44:05Z |
NPR begins a celebration of sweat — what it's made of, where it comes from and what it smells like. Spoiler alert: most of the time it doesn't have any smell at all.
Joe Palca is a science correspondent for NPR. Since joining NPR in 1992, Palca has covered a range of science topics — everything from biomedical research to astronomy. He is currently focused on the eponymous series, "Joe's Big Idea." Stories in the series explore the minds and motivations of scientists and inventors. Palca is also the founder of NPR Scicommers – A science communication collective. | https://www.keranews.org/2022-08-15/the-importance-of-sweat-we-need-it-to-keep-cool | 2022-08-15T10:44:11Z |
Threats against the FBI from supporters of former President Donald Trump have jumped, even as court documents related to the search of his Florida home are made public.
Copyright 2022 NPR
Threats against the FBI from supporters of former President Donald Trump have jumped, even as court documents related to the search of his Florida home are made public.
Copyright 2022 NPR | https://www.keranews.org/2022-08-15/the-search-of-mar-a-lago-leads-to-outrage-against-the-fbi-by-trump-supporters | 2022-08-15T10:44:17Z |
INTERVIEW HIGHLIGHTS:
Vaccines and the pandemic
There's been a gap in the vaccination procedures and schedules, mostly due to the pandemic. There is a significant concern that we're going to have a lot of children coming back to school who aren't up to date on their vaccines. And that some of these pathogens may sneak into the schools and start spreading.
Vaccine hesitancy
These vaccines are very, very effective to a large extent. They're a victim of their own success. Parents nowadays don't know what these pathogens can do. And unfortunately, the anti-vaxxers have leveraged fear and pushed on these false claims. And it's really a tragedy that this is going on.
Vaccine hesitancy goes back to the very first vaccine, Jenner's smallpox vaccine, where we use cowpox to immunize people against smallpox. So this is a longstanding issue in vaccine history. And unfortunately, we just, we were struggling to get by.
And I think that it's important for physicians, public health officials, and educators to really emphasize the value of vaccines. These pathogens are dangerous and can cause severe diseases that could result in death. So, it's important to keep the children's vaccine schedules up to date.
The other thing, of course, is that if we fully vaccinate the population, we're at much less risk as a population of having these pathogens reenter the population.
Are parents seeking out the COVID-19 vaccine?
I think the uptake has been a little on the slow side. The vaccine was approved for younger children just several months ago. So, I think that we're starting to see a slow uptake, but I think the numbers are increasing as far as parents getting their kids vaccinated with the COVID vaccine. And it's an important thing to get this pandemic under control.
Early in the pandemic, there were concerns about the vaccine and so on and so forth. But in the United States, we’re now approaching 600 million doses of vaccine given. And we have a mountain of information that these vaccines are safe and effective. And I think as we move through the pandemic, I think people will feel more and more comfortable with the vaccine, more and more comfortable vaccinating their children.
What steps should parents take when they decide against the COVID-19 vaccination?
Obviously, we're going to encourage vaccination. If you decide not to get your child vaccinated, they're going to be more susceptible to COVID than their vaccinated colleagues. And in regards to COVID, to keep safe, wearing a mask, hand-washing, and trying to avoid large indoor crowds. That's going to be very, very difficult once the children head to school.
About the current resurgence in COVID-19
New variants can emerge relatively quickly and take over the virus milieu. Think about omicron, which was first identified in South Africa in late November of 2021. Within eight weeks we were dealing with omicron here, and by mid-January, we were seeing a peak of COVID-19 that we hadn't seen at all during the pandemic. So that really speaks to how quickly a new variant can arise and really spread quite rapidly.
If a new variant does arrive, if you're not vaccinated or children are not vaccinated, you may not have time to get them fully vaccinated before the virus circulates widely. You know the vaccines are two or three doses and you know you're not considered fully immunized until two weeks after your second dose. It may be a month or a month and a half or two months before you get the full benefit of the vaccine.
So, it's important to get vaccinated, and get your booster doses because if a new variant does arrive – and we've seen that before - you're much, much safer getting fully vaccinated and boosted than if you're not.
RESOURCES:
Texas Minimum Vaccine Requirements
Texas Minimum Vaccine Requirements For College Entry
Finding and Updating Vaccine Records
What is an Exemption and What Does it Mean?
Interview highlights were lightly edited for clarity.
Got a tip? Email Sam Baker at sbaker@kera.org. You can follow Sam on Twitter @srbkera.
KERA News is made possible through the generosity of our members. If you find this reporting valuable, consider making a tax-deductible gift today. Thank you. | https://www.keranews.org/health-wellness/2022-08-15/north-texas-doctor-worries-the-pandemic-could-impact-school-vaccinations | 2022-08-15T10:44:23Z |
R Kelly trial on whether he fixed 2008 trial set to start
CHICAGO (AP) — Jury selection begins Monday at R. Kelly’s federal trial in his hometown of Chicago, where the R&B singer faces charges that he rigged his 2008 state child pornography trial by threatening and paying off a girl who he allegedly filmed himself having sex with when he was around 30 and she was no older than 14.
Jurors acquitted Kelly on all charges in that 2008 trial, some explaining later that they felt they had no choice because the girl did not testify. The woman, now in her 30s and referred to in filings only as “Minor 1,” will be the government’s star witness in the upcoming federal trial.
Kelly, 55, goes into Chicago federal court Monday already sentenced by a New York federal judge to a 30-year prison term for a 2021 conviction on charges he used his fame to sexually abuse other young fans.
Kelly, who rose from poverty on Chicago’s South Side to become a star singer, songwriter and producer, faces multiple charges at the federal trial. They include four counts of enticement of minors for sex — one each for four other accusers. They, too, are slated to testify.
Convictions in Chicago could add decades to Kelly’s New York sentence, which he is appealing. With the New York sentence alone, Kelly will be around 80 before qualifying for early release.
Two Kelly associates, Derrel McDavid and Milton Brown, are co-defendants at the Chicago trial. McDavid is accused of helping Kelly fix the 2008 trial, while Brown is charged with receiving child pornography. Like Kelly, they have also denied any wrongdoing.
Two state cases are also still pending. One is a multiple count sex-abuse case out of Cook County Circuit Court in Chicago. The other is a solicitation case in Minnesota. No trial dates are set for either.
Minor 1 is expected to testify that she was on video having sex with Kelly. The recording was at the heart of the monthlong 2008 trial and was played for jurors almost every day.
Minor 1 first met Kelly in the late 1990s when she was in junior high school. She had tagged along to Kelly’s Chicago recording studio with her aunt, a professional singer working with Kelly. Soon after, Minor 1 told her parents Kelly was going to become her godfather.
Prosecutors say Kelly later threatened and sought to pay off Minor 1 and her parents so they wouldn’t testify at the 2008 trial. None of them did.
Double jeopardy rules bar the prosecution of someone for the same crimes they were acquitted of earlier. That doesn’t apply to the Chicago federal trial because prosecutors are alleging different crimes related to Minor 1, including obstruction of justice.
___
Follow Michael Tarm on Twitter at https://twitter.com/mtarm
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/08/15/r-kelly-trial-whether-he-fixed-2008-trial-set-start/ | 2022-08-15T10:44:38Z |
Lawyers appeal Brittney Griner’s Russian prison sentence
MOSCOW (AP) - Lawyers for American basketball star Brittney Griner on Monday filed an appeal against her nine-year Russian prison sentence for drug possession, Russian news agencies reported Monday.
Griner, a center for the Phoenix Mercury and a two-time Olympic gold medalist, was convicted on Aug. 4. She was arrested in February at Moscow’s Sheremetyevo Airport after vape canisters containing cannabis oil were found in her luggage.
Griner played for a women’s basketball team in Yekaterinburg during the WNBA offseason.
Lawyer Maria Blagovolina was quoted by Russian news agencies on Monday as saying the appeal was filed, but the grounds of the appeal weren’t immediately clear.
Blagovolina and co-counsel Alexander Boykov said after the conviction that the sentence was excessive and that in similar cases defendants have received an average sentence of about five years, with about a third of them granted parole.
Griner admitted that she had the canisters in her luggage, but said she had inadvertently packed them in haste and that she had no criminal intent. Her defense team presented written statements that she had been prescribed cannabis to treat pain.
Before her conviction, the U.S. State Department declared Griner to be “wrongfully detained.”
Secretary of State Antony Blinken took the unusual step of revealing publicly in July that the U.S. had made a “substantial proposal” to get Griner home home, along with Paul Whelan, an American serving a 16-year sentence in Russia for espionage.
Blinken didn’t elaborate, but The Associated Press and other news organizations have reported that Washington has offered to free Viktor Bout, a Russian arms dealer who is serving a 25-year sentence in the U.S. and once earned the nickname the “Merchant of Death.”
On Sunday, a senior Russian diplomat said exchange talks have been conducted.
“This quite sensitive issue of the swap of convicted Russian and U.S. citizens is being discussed through the channels defined by our presidents,” Alexander Darchiev, head of the Foreign Ministry’s North America department, told state news agency Tass. “These individuals are, indeed, being discussed. The Russian side has long been seeking the release of Viktor Bout. The details should be left to professionals, proceeding from the ‘do not harm’ principle.’”
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/08/15/russian-media-lawyers-brittney-griner-appeal-prison-sentence/ | 2022-08-15T10:44:45Z |
Drought-stricken states in West face deadline to cut water use
SALT LAKE CITY (AP) — Banks along parts of the Colorado River where water once streamed are now just caked mud and rock as climate change makes the Western U.S. hotter and drier.
More than two decades of drought have done little to deter the region from diverting more water than flows through it, depleting key reservoirs to levels that now jeopardize delivery and hydropower production.
Cities and farms in seven U.S. states are bracing for cuts this week as officials stare down a deadline to propose unprecedented reductions to their use of the water, setting up what’s expected to be the most consequential week for Colorado River policy in years.
The U.S. Bureau of Reclamation in June told the states — Arizona, California, Colorado, Nevada, New Mexico, Utah and Wyoming — to figure out how to use at least 15% less water next year, or have restrictions imposed on them. On top of that, the bureau is expected to publish hydrology projections that will trigger additional cuts already agreed to.
“The challenges we are seeing today are unlike anything we have seen in our history,” Camille Touton, the bureau’s commissioner, said in a U.S. Senate hearing that month.
Tensions over the extent of the cuts and how to spread them equitably have flared, with states pointing fingers and stubbornly clinging to their water rights despite the looming crisis.
“It’s not fun sitting around a table figuring out who is going to sacrifice and how much,” said Bill Hasencamp, the Colorado River resources manager at Metropolitan Water District, which provides water to most of Southern California.
Representatives from the seven states convened in Denver last week for eleventh-hour negotiations behind closed doors. Officials party to discussions said the most likely targets for cuts are farmers in Arizona and California. Agricultural districts in those states are asking to be paid generously to shoulder that burden.
The Colorado River cascades down from the Rocky Mountains into the arid deserts of the Southwest. It’s the primary water supply for 40 million people. About 70% of its water goes toward irrigation, sustaining a $15 billion-a-year agricultural industry that supplies 90% of the United States’ winter vegetables.
The river is divided among Mexico and the seven U.S. states under a series of agreements that date back a century, to a time when more water flowed through the river. But climate change has transformed the river’s hydrology, providing less snowmelt and causing hotter temperatures and more evaporation. As it’s yielded less water, the states have agreed to cuts tied to the levels of reservoirs that store river water.
Last year, federal officials for the first time declared a water shortage, triggering cuts to Nevada, Arizona and Mexico’s share of the river to help prevent the two largest reservoirs — Lake Powell and Lake Mead — from dropping low enough to threaten hydropower production and stop water from flowing through their dams.
The proposals for supplemental cuts due this week have inflamed disagreement between upper basin states — Colorado, New Mexico, Utah and Wyoming — and lower basin states — Arizona, California and Nevada — over how to spread the pain. The lower basin states use most of the water and have thus far shouldered most of the cuts. The upper basin states have historically not used their full allocations but want to maintain their water rights to plan for population growth.
Gene Shawcroft, the chairman of Utah’s Colorado River Authority, believes the lower basin states should take most of the cuts because they use most of the water and their full allocations.
He said it was his job to protect Utah’s allocation for growth projected for decades ahead: “The direction we’ve been given as water purveyors is to make sure we have water for the future.”
In a letter last month, representatives from the upper basin states proposed a five-point conservation plan that they said would save water but argued most of the cuts needed to come from the lower basin. The plan didn’t commit to any numbers.
“The focus is getting the tools in place and working with water users to get as much as we can rather than projecting a water number,” Chuck Cullom, the executive director of the Upper Colorado River Commission, told The Associated Press.
That position, however, is unsatisfactory to many in lower basin states already facing cuts.
“It’s going to come to a head particularly if the upper basin states continue their negotiating position, saying, ‘We’re not making any cuts,’” said Bruce Babbitt, who served as Interior secretary from 2003-2011.
Lower basin states have yet to go public with plans to contribute, but officials said last week that they had a tentative proposal to reduce consumption that fell slightly short of the federal government’s request to cut 2 to 4 million acre-feet.
An acre-foot of water is enough to serve two to three households annually.
Hasencamp, the Metropolitan Water District’s Colorado River resource manager, said all the districts in the state that draw from the river had agreed to contribute water or money to the plan, pending approval by their respective boards. Water districts, in particular the Imperial Irrigation District, have been adamant that any voluntary cut does not curtail their high priority water rights.
Southern California cities likely will be putting up money that could fund fallowing farmland in places like Imperial County, and water managers are considering leaving water they’ve stored in Lake Mead as part of their contribution.
Arizona will likely be hit hard with reductions. The state has in the past few years shouldered much of the cuts and with its growing population and robust agricultural industry, has less wiggle room than its neighbors to take on more, said Arizona Department of Water Resources Director Tom Buschatzke. Some tribes in Arizona have also contributed to propping up Lake Mead in the past, and could play an outsized role in any new proposal.
Irrigators around Yuma, Arizona, have proposed taking 925,000 acre-feet less of Colorado River water in 2023 and leaving it in Lake Mead if they’re paid $1.4 billion, or $1,500 per acre-foot. The cost is far above the going rate, but irrigators defended their proposal as fair considering the cost to grow crops and get them to market.
Wade Noble, the coordinator for a coalition that represents Yuma water rights holders, said it was the only proposal put forth publicly that includes actual cuts, rather than theoretical cuts to what users are allocated on paper.
Some of the compensation-for-conservation funds could come from a $4 billion drought earmark in the Inflation Reduction Act under consideration in Washington, U.S. Sen. Kyrsten Sinema of Arizona told the AP.
Sinema acknowledged paying farmers to conserve wasn’t a long-term solution: “In the short-term, however, in order to meet our day-to-day needs and year-to-year needs, ensuring that we’re creating financial incentives for non-use will help us get through,” she said.
Babbitt, too, said money in the legislation will not “miraculously solve the problem,” and prices for water must be reasonable to avoid gouging because most water users will take a hit.
“There’s no way that these cuts can all be paid for at a premium price for years and years,” he said.
__
Fonseca reported from Flagstaff, Arizona. Associated Press reporter Kathleen Ronayne contributed from Sacramento, California.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/15/drought-stricken-states-west-face-deadline-cut-water-use/ | 2022-08-15T11:11:24Z |
R Kelly trial on whether he fixed 2008 trial set to start
CHICAGO (AP) — Jury selection begins Monday at R. Kelly’s federal trial in his hometown of Chicago, where the R&B singer faces charges that he rigged his 2008 state child pornography trial by threatening and paying off a girl who he allegedly filmed himself having sex with when he was around 30 and she was no older than 14.
Jurors acquitted Kelly on all charges in that 2008 trial, some explaining later that they felt they had no choice because the girl did not testify. The woman, now in her 30s and referred to in filings only as “Minor 1,” will be the government’s star witness in the upcoming federal trial.
Kelly, 55, goes into Chicago federal court Monday already sentenced by a New York federal judge to a 30-year prison term for a 2021 conviction on charges he used his fame to sexually abuse other young fans.
Kelly, who rose from poverty on Chicago’s South Side to become a star singer, songwriter and producer, faces multiple charges at the federal trial. They include four counts of enticement of minors for sex — one each for four other accusers. They, too, are slated to testify.
Convictions in Chicago could add decades to Kelly’s New York sentence, which he is appealing. With the New York sentence alone, Kelly will be around 80 before qualifying for early release.
Two Kelly associates, Derrel McDavid and Milton Brown, are co-defendants at the Chicago trial. McDavid is accused of helping Kelly fix the 2008 trial, while Brown is charged with receiving child pornography. Like Kelly, they have also denied any wrongdoing.
Two state cases are also still pending. One is a multiple count sex-abuse case out of Cook County Circuit Court in Chicago. The other is a solicitation case in Minnesota. No trial dates are set for either.
Minor 1 is expected to testify that she was on video having sex with Kelly. The recording was at the heart of the monthlong 2008 trial and was played for jurors almost every day.
Minor 1 first met Kelly in the late 1990s when she was in junior high school. She had tagged along to Kelly’s Chicago recording studio with her aunt, a professional singer working with Kelly. Soon after, Minor 1 told her parents Kelly was going to become her godfather.
Prosecutors say Kelly later threatened and sought to pay off Minor 1 and her parents so they wouldn’t testify at the 2008 trial. None of them did.
Double jeopardy rules bar the prosecution of someone for the same crimes they were acquitted of earlier. That doesn’t apply to the Chicago federal trial because prosecutors are alleging different crimes related to Minor 1, including obstruction of justice.
___
Follow Michael Tarm on Twitter at https://twitter.com/mtarm
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/15/r-kelly-trial-whether-he-fixed-2008-trial-set-start/ | 2022-08-15T11:11:30Z |
Lawyers appeal Brittney Griner’s Russian prison sentence
MOSCOW (AP) - Lawyers for American basketball star Brittney Griner on Monday filed an appeal against her nine-year Russian prison sentence for drug possession, Russian news agencies reported Monday.
Griner, a center for the Phoenix Mercury and a two-time Olympic gold medalist, was convicted on Aug. 4. She was arrested in February at Moscow’s Sheremetyevo Airport after vape canisters containing cannabis oil were found in her luggage.
Griner played for a women’s basketball team in Yekaterinburg during the WNBA offseason.
Lawyer Maria Blagovolina was quoted by Russian news agencies on Monday as saying the appeal was filed, but the grounds of the appeal weren’t immediately clear.
Blagovolina and co-counsel Alexander Boykov said after the conviction that the sentence was excessive and that in similar cases defendants have received an average sentence of about five years, with about a third of them granted parole.
Griner admitted that she had the canisters in her luggage, but said she had inadvertently packed them in haste and that she had no criminal intent. Her defense team presented written statements that she had been prescribed cannabis to treat pain.
Before her conviction, the U.S. State Department declared Griner to be “wrongfully detained.”
Secretary of State Antony Blinken took the unusual step of revealing publicly in July that the U.S. had made a “substantial proposal” to get Griner home home, along with Paul Whelan, an American serving a 16-year sentence in Russia for espionage.
Blinken didn’t elaborate, but The Associated Press and other news organizations have reported that Washington has offered to free Viktor Bout, a Russian arms dealer who is serving a 25-year sentence in the U.S. and once earned the nickname the “Merchant of Death.”
On Sunday, a senior Russian diplomat said exchange talks have been conducted.
“This quite sensitive issue of the swap of convicted Russian and U.S. citizens is being discussed through the channels defined by our presidents,” Alexander Darchiev, head of the Foreign Ministry’s North America department, told state news agency Tass. “These individuals are, indeed, being discussed. The Russian side has long been seeking the release of Viktor Bout. The details should be left to professionals, proceeding from the ‘do not harm’ principle.’”
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/15/russian-media-lawyers-brittney-griner-appeal-prison-sentence/ | 2022-08-15T11:11:36Z |
US: Drone attack targets US base in Syria
Published: Aug. 15, 2022 at 6:45 AM EDT|Updated: 26 minutes ago
BEIRUT (AP) — The U.S. military says an attack with drones hit a compound run by American troops and U.S.-backed Syrian opposition fighters in eastern Syria.
The military says there were no casualties or damage.
It said Monday’s attack took place in the vicinity of al-Tanf base near where the borders of Syria, Jordan and Iraq meet.
There was no claim of responsibility for the attack.
U.S. and coalition troops are based at al-Tanf to train Syrian opposition forces on patrols to counter militants from the Islamic State group.
Such attacks on al-Tanf are rare.
U.S. officials said in October they believe Iran was behind a similar attack on the base that month.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/15/us-drone-attack-targets-us-base-syria/ | 2022-08-15T11:11:42Z |
BEIJING, Aug. 15, 2022 /PRNewswire/ -- 36Kr Holdings Inc. ("36Kr" or the "Company") (NASDAQ: KRKR), a prominent brand and a pioneering platform dedicated to serving New Economy participants in China, today announced that it will report its second quarter 2022 unaudited financial results, on Wednesday, August 24, 2022, before the open of U.S. markets.
The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 24, 2022 (8:00 PM Beijing/Hong Kong Time on August 24, 2022).
For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.36kr.com.
A replay of the conference call will be available for one week from the date of the conference, by dialing the following telephone numbers:
About 36Kr Holdings Inc.
36Kr Holdings Inc. is a prominent brand and a pioneering platform dedicated to serving New Economy participants in China with the mission of empowering New Economy participants to achieve more. The Company started its business with high-quality New Economy-focused content offerings, covering a variety of industries in China's New Economy with diverse distribution channels. Leveraging traffic brought by high-quality content, the Company has expanded its offerings to business services, including online advertising services, enterprise value-added services and subscription services to address the evolving needs of New Economy companies and upgrading needs of traditional companies. The Company is supported by comprehensive database and strong data analytics capabilities. Through diverse service offerings and the significant brand influence, the Company is well-positioned to continuously capture the high growth potentials of China's New Economy.
For more information, please visit: http://ir.36kr.com.
For investor and media inquiries, please contact:
In China:
36Kr Holdings Inc.
Investor Relations
Tel: +86 (10) 5825-4188
E-mail: ir@36kr.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: 36Kr@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: 36Kr@tpg-ir.com
View original content:
SOURCE 36Kr Holdings Inc. | https://www.whsv.com/prnewswire/2022/08/15/36kr-holdings-inc-report-second-quarter-2022-financial-results-wednesday-august-24-2022/ | 2022-08-15T11:11:49Z |
Tactical Funding Increase (TACFI) grants Amsel Medical significant further investment in support of improved urgent care for trauma
CAMBRIDGE, Mass., Aug. 15, 2022 /PRNewswire/ -- Amsel Medical Corporation today announced receipt of award and signing of a contract for a non-dilutive AFWERX Tactical Funding Increase (TACFI) of $1.5 million augmenting its original $1M Phase II SBIR Grant.
This effort is sponsored by the Air Force Research Laboratory and will enable Amsel Medical to bridge its Phase II efforts towards Phase III commercial scaling. It facilitates the delivery of strategic capabilities to the U.S. Air Force, Special Operations Command, and U.S. Department of Defense (DoD).
Amsel Medical's needle delivered temporary clamping device is targeted at reducing combat deaths resulting from non-compressible and junctional hemorrhage, especially subclavian injuries, which are a leading cause of fatalities in military trauma cases.
"Today the majority of military fatalities occur in the prehospital environment," said Amsel Medical CEO David Doster. "As a result, there is a need for a field deployable, minimally invasive, and effective tool to prevent exsanguination and aid in the urgent care of those wounded. This is core to Amsel's mission - saving limbs and saving lives for both those who serve, and to serve the broader public's need for improved trauma care."
"The ability to rapidly and effectively control non-compressible and junctional hemorrhage non-surgically will be critical in the future operating environment," said Colonel(ret) John Dorsch who served most recently as the U.S. Air Force's 24th Special Operations Wing surgeon general. "This initiative will provide a novel solution to control junctional hemorrhage not amenable to application of an external tourniquet."
"The mortality due to exsanguination associated with junctional and non-compressible hemorrhage in the battlefield prior to surgical intervention is extremely high, with a greater than 60 percent mortality amongst US combatants," said Col(ret). Dorsch. "Junctional hemorrhage due to trauma is also a major cause of mortality and morbidity for civilian trauma. The Amsel technology is a minimally invasive fine-needle delivery of a temporary clamp for fast, secure mechanical arterial occlusion with the ability to vary the degree of occlusion of the targeted vessel, minimizing the potential consequences of prolonged limb ischemia and reperfusion injury. When no longer required, the clamp can simply be removed, without the need for any surgical or additional interventional procedure."
About Amsel Medical Corporation
Amsel Medical Corporation is a medical device company, based in Cambridge, Massachusetts, delivering simple and secure technology for vessel and tubular structure occlusion. In addition to its temporary trauma solution, it is also commercializing a permanent implant (SCureClamp™ ) that is CE mark and FDA cleared. For more information please visit www.AmselMedical.com.
CONTACT: Chris Gale, Chris@galestrategies.com
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Companies will work together to bring rapid antimicrobial identification and susceptibility diagnostics to more clinicians and patients worldwide
FRANKLIN LAKES, N.J. and TUCSON, Ariz., Aug. 15, 2022 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, and Accelerate Diagnostics, Inc. (NASDAQ: AXDX) an innovator of rapid in-vitro diagnostics in microbiology, today announced a worldwide commercial collaboration agreement where BD will offer Accelerate's rapid testing solution for antibiotic resistance and susceptibility offering results in hours, versus one to two days with some traditional laboratory methods.
Under the agreement, BD will market and sell the Accelerate Pheno® system and Accelerate Arc™ module and associated test kits through its global sales network in territories where products have regulatory approval or registration. These solutions complement BD's existing Clinical Microbiology portfolio and advance the shared goal of both companies to address the global threat of antimicrobial resistance.
"When a patient is very sick, every minute matters," said Brooke Story, president of Integrated Diagnostic Solutions for BD. "Rapid testing can quickly determine if an antibiotic should be used for treatment, and if so, which one. Through our collaboration with Accelerate Diagnostics, we can help clinicians more quickly, efficiently and effectively treat patients, which may lead to a reduction in health care costs and help slow the spread of antimicrobial resistance."
The Accelerate PhenoTest® BC kit is the first test cleared by the U.S. Food and Drug Administration that can deliver both rapid identification and phenotypic antibiotic susceptibility results in hours direct from positive blood cultures. Recent external studies indicate this solution offers results one to two days faster than traditional laboratory methods, which can include culturing samples for 18 to 24 hours, and then performing a susceptibility test that can take eight to 24 hours to result. This enables clinicians to optimize antibiotic selection and dosage specific to the individual patient, days earlier. It is well established in peer-reviewed literature that improving time to optimal therapy benefits both patient outcomes and hospital operations.
The Accelerate Arc™ module is a simple load-and-go system that eliminates the requirement of a subculture for MALDI ID as well as the need for lengthy hands-on time by automating the direct MALDI ID workflow. It is currently US , CE-IVDR and UKCA registered for positive blood cultures.
"With BD's large installed customer base of clinical microbiology systems, this collaboration exponentially increases our global commercial reach and provides numerous ways to increase our market penetration with Pheno and Arc to reach more clinicians and patients," said Jack Phillips, president and CEO of Accelerate Diagnostics. "Beyond the immediate clinical and commercial benefits, we are excited about the opportunity to collaborate with BD as a long-term leader in clinical microbiology."
About Accelerate Diagnostics, Inc.
Accelerate Diagnostics, Inc. is an in vitro diagnostics company dedicated to providing solutions for the global challenges of antibiotic resistant infections, a leading cause of sepsis. The company's first fully automated platform to provide rapid identification and antimicrobial susceptibility results remains the only solution currently cleared for use with positive blood culture samples by the U.S. FDA.
For more information about the company, its products and technology, or recent publications, visit axdx.com.
About BD
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics, and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 75,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/ and Twitter @BDandCo.
Contacts
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VALCOURT, QC, Aug. 15, 2022 /PRNewswire/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) reports that the Company's efforts to restore systems and business operations are continuing following the recent cyberattack.
Today, BRP manufacturing sites in Valcourt (Canada), Rovaniemi (Finland), Sturtevant (USA) and Gunskirchen (Austria) are ramping up production activities and expect to be fully operational on August 16, 2022. The rest of the production sites are planning to resume operations over the course of the week in a phased approach.
BRP's team, with the assistance of external advisors, are currently working to restore all internal systems from its back-up repositories. The Company confirms that the malware infiltration came through a third-party service provider. BRP believes that the impact of the cyberattack was limited to its internal systems.
At this time, while the investigation is still ongoing, it has not revealed any evidence that its clients' personal information would have been affected by the attack. As such, at this stage, BRP expects that the impact of this incident from a data privacy perspective should be limited. Should the circumstances change, BRP would directly contact individuals or corporations impacted.
"Cybersecurity at BRP is a top priority. We have a strong team of experts committed to taking every appropriate measure to ensure the integrity of systems and data," said José Boisjoli, President and CEO of BRP. "I thank them for all their efforts to mitigate the consequences of the attack."
BRP has put in place a recovery plan to minimize the financial consequences of the cyberattack and does not anticipate any impact on its year-end financial guidance.
Certain information included in this release, including, but not limited to, statements relating to the resumption of operations at various BRP sites, the timing of such activities, the fact that the impact from this cyberattack was limited to its internal systems, was limited from a data privacy perspective, the Company's ability to mitigate financial consequences due to this cyberattack, and its lack of impact on its financial-year end guidance and statements about the Company's current and future business and strategic plans, and other statements that are not historical facts, are "forward-looking statements" within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases. Forward looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in BRP's annual information form dated March 24, 2022.
We are a global leader in the world of powersports products, propulsion systems and boats built on 80 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel portfolio to fully enhance the riding experience. With annual sales of CA$7.6 billion from over 120 countries, our global workforce includes close to 20,000 driven, resourceful people.
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
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SOURCE BRP Inc. | https://www.whsv.com/prnewswire/2022/08/15/brp-resumes-operations-after-cyberattack/ | 2022-08-15T11:12:08Z |
VANCOUVER, BC, Aug. 15, 2022 /PRNewswire/ - BuildDirect.com Technologies Inc. (TSXV: BILD), a growing omnichannel building material retailer, today announced that it will report its second quarter 2022 financial results before the market open on Monday, August 29, 2022. Management will host a conference call and webcast to discuss the Company's financial results at 5:30 pm EDT on the same day.
BuildDirect Second Quarter 2022 Financial Results Conference Call
When: Monday, August 29, 2022
Time: 5:30 pm EDT
Live Call: (888) 664-6392 (North America Toll-Free) or (416) 764-8659 with confirmation ID: 01990687.
Replay: (888) 390-0541 (North America Toll-Free) or (416) 764-8677 (Toronto) with entry code: 990687#. The replay will be available approximately two hours after the completion of the live call until 8:59 pm EDT on September 5th, 2022.
The conference call will also be available via webcast on the Investor Relations section of BuildDirect's website at https://ir.builddirect.com/events-and-presentations.
BuildDirect (TSXV: BILD) is a growing omnichannel building material retailer. BuildDirect connects North American home improvement B2B and B2C organizations, and homeowners with quality building materials and services through its robust global supply chain network. BuildDirect's growth trajectory, strong product offering, and proprietary heavyweight delivery network are delivering value today, solidifying its position as an innovative player in the home improvement industry. For more information, visit www.BuildDirect.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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--Net Revenues up 857% year over year in the second quarter–
--Net Revenues up 792% year over year in the first half–
DALIAN, China, Aug. 15, 2022 /PRNewswire/ -- CBAK Energy Technology, Inc. (NASDAQ: CBAT) ("CBAK Energy," or the "Company") a leading lithium-ion battery manufacturer and electric energy solution provider in China, today reported its unaudited financial results for the second quarter and first half of 2022 ended June 30, 2022.
Second Quarter of 2022 Financial Highlights
- Net revenues were $56.4 million, an increase of 857% from $5.9 million in the same period of 2021.
- Gross profit was $5.5 million, representing an increase of $4.4 million, or 404%, for the three months ended June 30, 2022, from gross profit of $1.1 million for the same period in 2021.
- Net income attributable to shareholders of CBAK Energy was $0.8 million, compared to net income attributable to shareholders of CBAK Energy of $2.7 million in the same period of 2021.
First Half of 2022 Financial Highlights
- Net revenues were $136.5 million, an increase of 792% from $15.3 million in 2021.
- Gross profit was $10.9 million, an increase of 270% from $2.9 million in 2021.
- Net income attributable to shareholders of CBAK Energy was $1.3 million, compared to net income attributable to shareholders of CBAK Energy of $32.3 million in 2021.
Yunfei Li, Chairman and Chief Executive Officer of the Company, commented: "In the second quarter and first half of 2022, our company continued its strong growth in revenues. With the new energy industry getting hotter with tremendous policy supports, we made wise decision to enter the upstream of the industry by acquiring a lithium-ion battery material business and to further expand our battery production capacity."
Mr. Li continued: "Despite that the inflation of materials price resulted from capacity shortage has increased our costs, we still managed to sustain a highly rapid growth in revenues, of which revenues from our battery business grew by over 3 times. Our management team is highly confident about the company's future and its potential for quicker growth."
Xiangyu Pei, Interim Chief Financial Officer of the Company, noted: "With the significant growth in the sales of our batteries and battery materials, we continued to expand revenue and gross profits. Notably, our revenues grew as much as 792% year-over-year to $136.5 million in the first half of 2022 while gross profits increased by over two times to $10.9 million. We believe that with the material price starts de-inflation and that our Nanjing plant is fully operated with its full capacity, we will have much higher profits. As always, we continued to invest in new headcounts, new business as well as research and development to drive further growth. We believe these investments, combined with our sound financial position and powerful battery product ecosystem, will enable us to sustain long-term, profitable growth."
Second Quarter of 2022 Business Highlights & Recent Developments
- In July 2022, the Company announced a joint-development agreement with one of the leading players in the R&D of sodium-ion batteries to co-develop Na-ion batteries. Both companies anticipated to start producing samples in the second half of 2022.
- In June 2022, CBAK Energy announced a framework agreement with Jiangsu JPK New Energy Co., Ltd., a subsidiary of Jiangsu Jemmell New Energy Automobile Co., Ltd. ("Jemmell") to develop and supply large cylindrical batteries used on Jemmell's A00-grade mini passenger vehicles. Jemmell is known as a light electric vehicle manufacturing unit of Jinpeng Group ("JP Group"), which is one of China's biggest LEV manufacturers.
Second Quarter of 2022 Financial Results
Net revenues were $56.4 million, an increase of 857% from $5.9 million in the same period of 2021. This was driven mostly by strong sales of high-power lithium batteries and materials for use in manufacturing lithium battery.
Cost of revenues was $50.8 million, an increase of 961% from $4.8 million in the same period of 2021. This was primarily due to increased net revenues.
Gross profit was $5.5 million, representing an increase of 404% from $1.1 million in the same period of 2021. Gross Margin was 9.5%, a decrease of 9.1% from 18.6% in the same period of 2021. The change in gross profits was primarily due to the increase in raw material costs.
Total operating expenses were $5.4 million, an increase of 48% from $3.8 million in the same period of 2021. Most of the increase in all expense categories was due to growing headcount and the acquisition of our battery material business and a growing number of employees for the new facility in Nanjing.
- Research and development expenses were $2.3 million, an increase of 120% from $1.0 million in the same period of 2021.
- Sales and marketing expenses were $0.7 million, an increase of 29% from $0.5 million in the same period of 2021.
- General and administrative expenses were $2.5 million, an increase of 5% from $2.3 million in the same period of 2021.
- Recovery of doubtful accounts was $59,826, compared to $0.1 million in the same period of 2021.
Operating income was $0.1 million, compared to an operating loss of $2.7 million in the same period of 2021, representing a change of 105% from operating loss to operating income.
Finance expense, net was $0.6 million, compared to finance income of $52,700 in the same period of 2021.
Change in fair value of warrants was $2.1 million, compared to $5.8 million in the same period of 2021. The change in fair value of the warrants liability is mainly due to share price movement.
Net income attributable to shareholders of CBAK Energy was $0.8 million, compared to net income attributable to shareholders of CBAK Energy of $2.7 million in the same period of 2021.
Basic and diluted income per share were both nil. In comparison, basic and diluted income per share in the same period of 2021 were both $0.02.
First Half of 2022 Financial Results
Net revenues were $136.5 million, an increase of 792% from $15.3 million in 2021. This was primarily due to stronger sales of batteries for uninterruptable supplies and LEVs as well as materials for use in manufacturing lithium battery.
Cost of revenues was $125.7 million, an increase of 916% from $12.4 million in 2021. This was primarily attributed to increased net revenues.
Gross profit was $10.9 million, an increase of 270% from $2.9 million in 2021. Gross margin was 8.0%, a decrease of 11 percentage points from 2021. The change in gross margin was primarily due to the increase in raw material prices.
Total operating expenses were $12.0 million, an increase of 112% from $5.7 million in 2021. Most of the increase in all expense categories was due to growing headcount and the acquisition of our battery material business and a growing number of employees for the new facility in Nanjing.
- Research and development expenses were $5.6 million, an increase of 267% from $1.5 million in 2021. The increase was mainly due to the increase in salaries, and the acquisition of our battery material business, and a growing number of employees needed for our new Nanjing plant.
- Sales and marketing expenses were $1.5 million, an increase of 103% from $0.8 million in 2021. The increase was mainly due to the increase in salaries, the acquisition of our battery material business, a growing number of employees needed for our new Nanjing plant and expanded sales and marketing efforts.
- General and administrative expenses were $4.7 million, an increase of 28% from $3.7 million in 2021. The increase was mainly due to the increase in salaries resulting from the acquisition of our battery material business, a growing number of employees need for the new facility in Nanjing.
- Provision for doubtful accounts was $0.2 million, compared to a recovery of doubtful accounts of $0.3 million in 2021.
Operating loss was $1.2 million, compared to $2.8 million in 2021, representing a decrease of 57%.
Finance expense, net was $0.6 million, compared to finance income of $45,102 in 2021.
Change in fair value of warrants was $3.8 million, compared to $34.2 million in 2021. The change in fair value of the warrants liability is mainly due to share price movement.
Net income attributable to shareholders of CBAK Energy was $1.3 million, compared to net income attributable to shareholders of CBAK Energy of $32.3 million in 2021.
Basic and diluted income per share were both $0.01. In comparison, basic and diluted loss per share in 2021 were both $0.37.
Conference Call
CBAK's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Monday, August 15, 2022 (8:00 PM Beijing/Hong Kong Time on August 15, 2022).
For participants who wish to join the call, please register in advance for the conference using the link provided below at least 15 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal pin and an email with detailed instructions to join the conference call.
Participant Online Registration:
https://register.vevent.com/register/BId7dd8f617e1e4d01a3e700460f168ddd
Once completing the registration, please dial-in at least 10 minutes before the scheduled start time of the conference call and enter the personal pin as instructed to connect to the call.
A replay of the conference call may be accessed within seven days after the conclusion of the live call at the following website:
https://edge.media-server.com/mmc/p/x2rvxnig
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium batteries and raw materials for use in manufacturing high power lithium batteries. The applications of the Company's products and solutions include electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply (UPS), and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing and Shaoxing, as well as a large-scale R&D and production base in Dalian.
For more information, please visit www.cbak.com.cn.
Safe Harbor Statement
This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are 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. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.
Any forward-looking statements contained in this press release are only estimates or predictions of future events based on information currently available to our management and management's current beliefs about the potential outcome of future events. Whether these future events will occur as management anticipates, whether we will achieve our business objectives, and whether our revenues, operating results, or financial condition will improve in future periods are subject to numerous risks. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: significant legal and operational risks associated with having substantially all of our business operations in China, the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change in our operations and/or the value of our securities or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless, trading in our securities may be prohibited under the Holding Foreign Companies Accountable Act if the PCAOB subsequently determines our audit work is performed by auditors that the PCAOB is unable to inspect or investigate completely for three consecutive years, the effects of the global Covid-19 pandemic, changes in domestic and foreign laws, regulations and taxes, uncertainties related to China's legal system and economic, political and social events in China, the volatility of the securities markets; and other risks including, but not limited to, the ability of the Company to meet its contractual obligations, the uncertain market for the Company's lithium battery cells and business, macroeconomic, technological, regulatory, or other factors affecting the profitability of our products and solutions that we discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 10-K as well as in our other reports filed or furnished from time to time with the SEC. You should read these factors and the other cautionary statements made in this press release. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
For investor and media inquiries, please contact:
CBAK Energy Technology, Inc.
Investor Relations Department
Mr. Thierry Jiewei Li
Phone: 86-18675423231,
Email: ir@cbak.com.cn
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SOURCE CBAK Energy Technology, Inc. | https://www.whsv.com/prnewswire/2022/08/15/cbak-energy-reports-second-quarter-first-half-2022-unaudited-financial-results/ | 2022-08-15T11:12:22Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention 17 Education & Technology Group Inc. ("17EdTech") (NASDAQ: YQ) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded 17EdTech securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with 17EdTech's December 2020 initial public offering.
If you suffered a loss on your investment in 17EdTech, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against 17EdTech includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) 17EdTech's K-12 Academic AST Services would end less than a year after the Company's initial public offering; (2) as part of its ongoing regulatory efforts, Chinese authorities would imminently curtail and/or end 17EdTech's core business; and (3) as a result, defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
DEADLINE: September 19, 2022
Aggrieved 17EdTech investors only have until September 19, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-17edtech-investors-lead-plaintiff-deadline-september-19-2022/ | 2022-08-15T11:12:29Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Amazon.com, Inc. ("Amazon") (NASDAQ: AMZN) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all persons or entities that purchased or otherwise acquired shares of Amazon common stock between July 30, 2021, and April 28, 2022, inclusive.
If you suffered a loss on your investment in Amazon, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Amazon includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: 1) defendants knew or recklessly disregarded that the Company's infrastructure and fulfillment network investments substantially outpaced demand; 2) those investments were a massive, self-imposed, undue drain on Amazon's financial condition; 3) contrary to defendants' public statements and undisclosed to investors, defendants had already implemented cutbacks to Amazon's fulfillment capacity by July 2021; and 4) as a result of defendants' misrepresentations and omissions, Amazon's common stock traded at artificially inflated prices during the class period.
Aggrieved Amazon investors only have until September 6, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-amazon-investors-lead-plaintiff-deadline-september-6-2022/ | 2022-08-15T11:12:36Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Carvana Co. ("Carvana") (NYSE: CVNA) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between May 6, 2020 and June 24, 2022.
If you suffered a loss on your investment in Carvana, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Carvana includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Carvana faced serious, ongoing issues with documentation, registration, and title with many of its vehicles; (2) as a result, Carvana was issuing unusually frequent temporary plates; (3) as a result of the foregoing, Carvana was violating laws and regulations in many existing markets; (4) as a result of the foregoing, Carvana risked its ability to continue business and/or expand its business in existing markets; (5) as a result of the foregoing, Carvana was at an increased risk of governmental investigation and action; (6) Carvana was in discussion with state and local authorities regarding the above-stated business tactics and issues; (7) Carvana was facing imminent and ongoing regulatory actions including license suspensions, business cessation, and probation in several states and counties including in Arizona, Illinois, Pennsylvania, Michigan, and North Carolina; and (8) as a result, Defendants' statements about Carvana's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
DEADLINE: October 3, 2022
Aggrieved Carvana investors only have until October 3, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-carvana-investors-lead-plaintiff-deadline-october-3-2022/ | 2022-08-15T11:12:43Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- August 15, 2022 - Attention Enochian BioSciences, Inc. ("Enochian") (NASDAQ: ENOB) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between January 17, 2018, and June 27, 2022.
If you suffered a loss on your investment in Enochian, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/enochian-biosciences-inc-loss-submission-form?prid=30819&wire=4
ABOUT THE ACTION: The class action against Enochian includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's co-founder and inventor Serhat Gumrukcu was engaged in a variety of frauds; (2) Gumrukcu was not a licensed doctor anywhere in the world; (4) as a result of the foregoing, Gumrukcu's purported contributions to the Company lacked a reasonable basis; (5) as a result of the foregoing, the Company had overstated its commercial prospects; (6) Gumrukcu had improperly diverted approximately $20 million from Enochian to entities he owned; and (7) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
DEADLINE: September 26, 2022
Aggrieved Enochian investors only have until September 26, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-enochian-investors-lead-plaintiff-deadline-september-26-2022/ | 2022-08-15T11:12:49Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Inotiv, Inc. ("Inotiv") (NASDAQ: NOTV) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between September 21, 2021 and June 13, 2022.
If you suffered a loss on your investment in Inotiv, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/inotiv-shareholder-loss-submission-form?prid=30810&wire=4
ABOUT THE ACTION: The class action against Inotiv includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Inotiv's acquisition, Envigo RMS, LL ("Envigo"), and Inotiv's Cumberland, Virginia facility (the "Cumberland Facility") engaged in widespread and flagrant violations of the Animal Welfare Act ("AWA"); (2) Envigo and Inotiv's Cumberland Facility continuously violated the AWA; (3) Envigo and Inotiv did not properly remedy issues with regards to animal welfare at the Cumberland Facility; (4) as a result, Inotiv was likely to face increased scrutiny and governmental action; (5) Inotiv would imminently shut down two facilities, including the Cumberland Facility; (6) Inotiv did not engage in proper due diligence; and (7) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
DEADLINE: August 22, 2022
Aggrieved Inotiv investors only have until August 22, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:
SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-inotiv-investors-lead-plaintiff-deadline-august-22-2022/ | 2022-08-15T11:12:56Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Kiromic BioPharma, Inc. ("Kiromic") (NASDAQ: KRBP) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of a class consisting of persons and entities that purchased or otherwise acquired: (a) Kiromic common stock issued in connection with the Company's public offering that closed on July 2, 2021 and/or (b) Kiromic common stock between June 25, 2021 and August 13, 2021, both dates inclusive.
If you suffered a loss on your investment in Kiromic, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The complaint alleges that the registration statement and prospectus issued in connection with the Company's public offering that closed on July 2, 2021 (the "Offering Documents") failed to disclose that the Food and Drug Administration ("FDA") had, prior to the filing of these documents, imposed a clinical hold on the Company's Investigational New Drug ("IND") applications for its two new drug candidates. Given that the offering closed on July 2, 2021, more than thirty (30) days after the Company submitted the IND applications for its two immunotherapy product candidates, investors were assured that no clinical hold had been issued and clinical trials would commence.
DEADLINE: October 4, 2022
Aggrieved Kiromic investors only have until October 4, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-kiromic-investors-lead-plaintiff-deadline-october-4-2022/ | 2022-08-15T11:13:02Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- August 15, 2022 - Attention Missfresh Limited ("Missfresh") (NASDAQ: MF) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of persons who purchased or otherwise acquired Missfresh securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Missfresh's June 2021 initial public offering.
If you suffered a loss on your investment in Missfresh, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Missfresh includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Missfresh provided false financial figures in its registration statement and related prospectus issued in connection with the Company's June 2021 initial public offering; (2) Missfresh would need to amend its financial figures; (3) Missfresh, among other things, had lesser net revenues for the quarter ended March 31, 2021; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times and negligently prepared.
Aggrieved Missfresh investors only have until September 12, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:
SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-missfresh-investors-lead-plaintiff-deadline-september-12-2022/ | 2022-08-15T11:13:04Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Molecular Partners AG ("Molecular Partners") (NASDAQ: MOLN) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of a class consisting of persons and entities that purchased or otherwise acquired: (a) Molecular Partners American Depositary Shares pursuant and/or traceable to certain documents issued in connection with the Company's initial public offering conducted on or about June 16, 2021; and/or (b) Molecular Partners securities between June 16, 2021, and April 26, 2022.
If you suffered a loss on your investment in Molecular Partners, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Molecular Partners includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's product, ensovibep, was less effective at treating COVID-19 than defendants had led investors to believe; that (ii) accordingly, the the U.S. Food and Drug Administration ("FDA") was reasonably likely to require an additional Phase 3 study of ensovibep before granting the drug Emergency Use Authorization ("EUA"); (iii) waning global rates of COVID-19 significantly reduced the Company's chances of securing EUA for ensovibep; (iv) another of the Company's product candidates, MP0310, was less attractive to Molecular Partners' collaborator, Amgen, than defendants had led investors to believe; (v) accordingly, there was a significant likelihood that Amgen would return to global rights of MP0310 to Molecular Partners; (vi) as a result of all the foregoing, the clinical and commercial prospects of ensovibep and MP0310 were overstated; and (vii) as a result, documents issues in connection with the Company's initial public offer and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
DEADLINE: September 12, 2022
Aggrieved Molecular Partners investors only have until September 12, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-molecular-partners-investors-lead-plaintiff-deadline-september-12-2022/ | 2022-08-15T11:13:11Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Outset Medical, Inc. ("Outset Medical") (NASDAQ: OM) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all persons or entities who purchased Outset Medical common stock between September 15, 2020, and June 13, 2022.
If you suffered a loss on your investment in Outset Medical, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Outset Medical includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's flagship product, Tablo Hemodialysis System ("Tablo"), would require an additional 510(k) application to be filed with The United States Food and Drug Administration ("FDA"), as defendants had "continuously made improvements and updates to Tablo over time since its original clearance"; (2) as a result, the Company could not conduct a human factors study on a cleared device in accordance with FDA protocols; (3) the Company's inability to conduct the human factors study subjected the Company to the likelihood of the FDA imposing a "shipment hold" and marketing suspension, leaving the Company unable to sell Tablo for home use; and (4) as a result, defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times.
Aggrieved Outset Medical investors only have until September 6, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:
SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-outset-medical-investors-lead-plaintiff-deadline-september-6-2022/ | 2022-08-15T11:13:18Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention TG Therapeutics, Inc. ("TG Therapeutics") (NASDAQ: TGTX) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between January 15, 2020 and May 31, 2022.
If you suffered a loss on your investment in TG Therapeutics, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against TG Therapeutics includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) clinical trials revealed significant concerns related to the benefit-risk ratio and overall survival data of the Company's therapeutic product candidates, Ublituximab and Umbralisib; (ii) accordingly, it was unlikely that the Company would be able to obtain approval from the U.S. Food and Drug Administration of the Umbralisib marginal zone lymphoma and follicular lymphoma New Drug Application, the Biologics License Application for Ublituximab in combination with Umbralisib, the supplemental New Drug Application for Ublituximab in combination with Umbralisib, or the Ublituximab relapsing forms of multiple sclerosis Biologics License Application in their current forms; (iii) as a result, the Company had significantly overstated Ublituximab and Umbralisib's clinical and/or commercial prospects; and (iv) therefore, the Company's public statements were materially false and misleading at all relevant times.
DEADLINE: September 16, 2022
Aggrieved TG Therapeutics investors only have until September 16, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:
SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-tg-therapeutics-investors-lead-plaintiff-deadline-september-16-2022/ | 2022-08-15T11:13:24Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Tupperware Brands Corporation ("Tupperware") (NYSE: TUP) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between November 3, 2021 and May 3, 2022.
If you suffered a loss on your investment in Tupperware, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Tupperware includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) Tupperware was facing significant challenges in maintaining its earnings and sales performance; (ii) accordingly, Tupperware's full-year 2022 guidance was unrealistic and/or unsustainable; (iii) all the foregoing, once revealed, was likely to have a material negative impact on Tupperware's financial condition; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
DEADLINE: August 15, 2022
Aggrieved Tupperware investors only have until August 15, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:
SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-tupperware-investors-lead-plaintiff-deadline-august-15-2022/ | 2022-08-15T11:13:30Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Unilever PLC ("Unilever") (NYSE: UL) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of all persons who purchased or otherwise acquired Unilever American Depositary Receipts between September 2, 2020 and July 21, 2021, inclusive.
If you suffered a loss on your investment in Unilever, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Unilever includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: a) in July 2020, the board of Ben & Jerry's, one of Unilever's marquee brands, passed a resolution to end sales of its ice cream in "Occupied Palestinian Territory" ; and b) this boycott decision risked adverse governmental actions for violations of laws, executive orders, or resolutions aimed at discouraging boycotts, divestment, and sanctions of Israel adopted by 35 U.S. states.
Aggrieved Unilever investors only have until August 15, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:
SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-unilever-investors-lead-plaintiff-deadline-august-15-2022/ | 2022-08-15T11:13:38Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Unity Software Inc. ("Unity") (NYSE: U) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between March 5, 2021 and May 10, 2022.
If you suffered a loss on your investment in Unity, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Unity includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) deficiencies in Unity's product platform reduced the accuracy of the Company's machine learning technology; (ii) the foregoing was likely to have a material negative impact on the Company's revenues; (iii) accordingly, Unity had overstated the Company's commercial and/or financial prospects for 2022; (iv) as a result, the Company was likely to have to reduce its fiscal 2022 guidance; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
DEADLINE: September 6, 2022
Aggrieved Unity investors only have until September 6, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-unity-investors-lead-plaintiff-deadline-september-6-2022/ | 2022-08-15T11:13:45Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Weber Inc. ("Weber") (NYSE:WEBR) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Weber Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's August 2021 initial public offering.
If you suffered a loss on your investment in Weber, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/weber-inc-loss-submission-form?prid=30820&wire=4
ABOUT THE ACTION: The class action against Weber includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) Weber was reasonably likely to implement price increases; (2) as a result, consumer demand for Weber's products was reasonably likely to decrease; (3) due to the resulting inventory buildup, Weber was reasonably likely to run promotions to "enhance retail sell through"; (4) the foregoing would adversely impact Weber's financial results; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
DEADLINE: September 27, 2022
Aggrieved Weber investors only have until September 27, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-weber-investors-lead-plaintiff-deadline-september-27-2022/ | 2022-08-15T11:13:51Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Wells Fargo & Company ("Wells Fargo") (NYSE: WFC) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Wells Fargo common stock between February 24, 2021 and June 9, 2022.
If you suffered a loss on your investment in Wells Fargo, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Wells Fargo includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) Wells Fargo had misrepresented its commitment to diversity in the Company's workplace; (ii) Wells Fargo conducted fake job interviews in order to meet its Diverse Search Requirement; (iii) the foregoing conduct subjected Wells Fargo to an increased risk of regulatory and/or governmental scrutiny and enforcement action, including criminal charges; (iv) all of the foregoing, once revealed, was likely to negatively impact Wells Fargo's reputation; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
DEADLINE: August 29, 2022
Aggrieved Wells Fargo investors only have until August 29, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:
SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-wells-fargo-investors-lead-plaintiff-deadline-august-29-2022/ | 2022-08-15T11:13:57Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Attention Yext, Inc. ("Yext") (NYSE: YEXT) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between March 4, 2021 and March 8, 2022.
If you suffered a loss on your investment in Yext, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Yext includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) Yext's revenue and earnings were significantly deteriorating because of, among other things, poor sales execution and performance, as well as COVID-19 related disruptions; (ii) accordingly, Yext was unlikely to meet consensus estimates for its full year fiscal 2022 financial results and fiscal 2023 outlook; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
DEADLINE: August 16, 2022
Aggrieved Yext investors only have until August 16, 2022 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
View original content:
SOURCE The Law Offices of Vincent Wong | https://www.whsv.com/prnewswire/2022/08/15/class-action-alert-law-offices-vincent-wong-remind-yext-investors-lead-plaintiff-deadline-august-16-2022/ | 2022-08-15T11:14:04Z |
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Clear Secure, Inc. (NYSE: YOU) has posted a shareholder letter containing its 2022 second quarter financial results on its Investor Relations website at: https://ir.clearme.com/.
CLEAR will host a conference call to discuss those results at 8:00 AM (ET) today. Investors and analysts can access the live teleconference call by dialing toll-free 877-407-3089 for U.S. participants and +1 215-268-9854 for international participants. Listeners can access the live webcast HERE. A webcast replay and transcript of the webcast will be available after the event on the investor relations website at https://ir.clearme.com.
About CLEAR
Founded in 2010, CLEAR's mission is to create frictionless experiences. With more than 13 million members and hundreds of partners across the world, CLEAR's identity platform is transforming the way people live, work, and travel. Whether it's at the airport, stadium, or right on your phone, CLEAR connects you to the things that make you, you - making everyday experiences easier, more secure, and more seamless. Since day one, CLEAR has been committed to privacy done right. Members are always in control of their own information, and we never sell member data.
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SOURCE CLEAR | https://www.whsv.com/prnewswire/2022/08/15/clear-announces-second-quarter-2022-earnings/ | 2022-08-15T11:14:11Z |
- Q2 revenue of 6.2 million, a 17.5% increase from the $5.3 million of the second quarter of 2021. Six-month year-to-date revenue totaled $14.2 million, a 60.8% increase over the first six months of 2021
- $55 million in total commercial contract value reflecting continued strong momentum across Business-to-Business-to-Consumer (B2B2C) channels
- Selected by a national health plan as strategic behavioral health partner, providing reach to nearly ten million additional members
- Sanofi and other strategic partnerships gaining traction and expected to accelerate recurring revenue streams from employers and health plans
- Improved financial profile as company completes shift to B2B2C focus and reports $68 million of cash and equivalents on the balance sheet as of June 30
Company to host conference call and webcast 8:30 am ET today
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the global digital therapeutics (DTx) market, today reported financial results for the second quarter 2022 and provided a corporate and commercial update.
"Dario continues to enjoy tremendous momentum since establishing our focus on B2B2C customer channels more than two years ago, reflecting the market's increasing demand for integrated, holistic digital health solutions to manage chronic conditions," stated Erez Raphael, Chief Executive Officer of Dario. "We now see B2B2C contract values totaling $55 million in the aggregate, demonstrating the strength of our offering as an emerging leader in the digital therapeutics market."
"A clear highlight since our last quarterly update is our recent contract with a national health plan to deploy our behavioral health solution through its behavioral health platform, allowing us to reach approximately ten million additional members. A brief contracting delay with this plan contributed to the decline in revenue during the second quarter relative to the first quarter. However, we anticipate that this will reverse in the second half of 2022, as this plan has already started contributing revenue in the current quarter."
"Our Direct-to-Consumer (DTC) business was foundational to the initial development of Dario's platform as it exists today, yielding the data and insights necessary to drive the product enhancements necessary to create attractive solutions for both employers and health plans. We believe that our strategy and efforts in the DTC business were a resounding success, as we see the market now demands a comprehensive, clinically proven offering such as the one we developed."
"Now, given the significant activity we are experiencing in the B2B2C channel both through direct and partner led initiatives, we need to deploy our human and capital resources to address value accretive activities in the much larger and more lucrative B2B2C channel – the next stage of our multi-year strategic plan. As a result, we made the strategic decision during the second quarter to diminish focus on our legacy DTC business while prioritizing our B2B2C opportunity. This decision had a modest impact on DTC revenue and related expenses in the second quarter. We anticipate that this impact will continue to lessen the influence of DTC revenue and expenses in the second half of the year while enhancing the long-term growth opportunity with employers and health plans."
"However, we anticipate this impact will be temporary as we expect continued strong demand for our B2B2C solutions to more than offset the decrease in DTC revenue, driving overall revenue growth in 2023 and 2024. Going forward, we expect that this strategic shift will significantly improve our financial profile, with larger, more stable, recurring revenues from B2B2C pools of users and lower customer acquisition costs, and also result in higher margins and an extended cash runway," Mr. Raphael concluded.
"We are seeing continued contract and revenue growth with several 'off-cycle' employer sales and our previously announced health plans contributing to revenue," stated Rick Anderson, President of Dario North America. "Our collaboration with Sanofi continues to gain traction, as the Sanofi sales organization amplifies our efforts and starts to yield health plan and other strategic opportunities. Similarly, our partnership with Solera Health is off to a strong start, with a large regional health plan in the late contracting phase, offering further evidence of the value that we can drive through our partner channels. Our pipeline is the richest it has been in the company's history, driven by the breadth and depth of our integrated, multi-chronic condition platform. We anticipate announcing many more customers from our growing pipeline over the remainder of the year."
Q2 2022 and Recent Highlights
- Completed transition from DTC to B2B2C business focus, which is expected to continue to improve margins, reduce operating expenses and extend cash runway
- Announced a contract with a leading national health plan to incorporate Dario's behavioral health solution within the plan's behavioral health platform. The contract, which allows Dario to reach close to ten million additional members, is expected to begin to generate revenue in Q3 of 2022
- B2B2C accounts increased 10% in an off-cycle quarter which keeps Dario on track to exceed 100 contracts by year end
- Reduced ongoing customer acquisition costs by 70% as a result of the strategic shift to B2B2C model
- Collaboration with Sanofi continues to gain traction with health plan sales outreach
- Announced strategic partnership with Solera Health, adding another valuable partnership, extending the Company's reach and penetration into the health plan market
- Existing partnerships, including Virgin Pulse, are seeing strong opportunity growth and are beginning to yield customers
- Hired Brian Harrigan as Senior Vice President of Employer Sales to support Dario's rapid growth in the employer markets
- Strong pipeline growth continues to demonstrate the strength of Dario's multi-condition suite, with more than 40% of pipeline opportunities for multi-condition contracts
- Secured up to $50 million non-dilutive credit facility with OrbiMed, a leading healthcare investor; ended the second quarter with $68 million in cash and equivalents
- Presented three new studies demonstrating improved health in users with multiple conditions at the American Diabetes Association's 82nd Scientific Sessions
Second Quarter 2022 Results Summary
Revenues for the second quarter ended June 30, 2022, were $6.2 million, a 17.5% increase from the $5.3 million for the second quarter ended June 30, 2021. The increase in revenues resulted from higher revenues from the company's commercial market segments, including health plans, employers and providers. Revenues declined 23.3% sequentially from the first quarter ended March 31, 2022 due to a delay in the signing of one large health plan contract.
Gross profit for the second quarter of 2022 was $1.1 million, a decrease of $0.4 million, compared to gross profit of $1.5 million for the second quarter of 2021. Gross profit as a percentage of revenues declined to 18.4% in the second quarter of 2022, from 28.7% in the second quarter of 2021, due to the change in mix of revenue caused by the aforementioned delay in health plan revenues.
Pro-forma gross profit, excluding $1.1 million of non-cash amortization of expenses related to the acquisition of technology, was $2.2 million, or 36.1% of revenues, for the three months ended June 30, 2022, compared to a pro-forma gross profit of $2.6 million, or 49.4% of revenues for the three months ended June 30, 2021. Non-GAAP gross margins for the B2B2C business channel exceeded 70% in the second quarter.
Total operating expenses for the second quarter of 2022 were $18.5 million compared with $19.5 million for the second quarter of 2021 and $19.8 million for the first quarter of 2022, a decrease of $1 million, or 5.2%, compared to the second quarter of 2021, and a decrease of $1.3 million, or 6.9%, compared to the first quarter of 2022. The decrease compared to the first quarter of 2022 resulted from a decrease in our DTC marketing expenses. Total operating expenses excluding stock-based compensation, acquisition expenses and depreciation for the second quarter of 2022 were $13.4 million compared to $13.5 million for the second quarter of 2021, and $14.9 million for the first quarter of 2022.
Operating loss for the second quarter of 2022 was $17.4 million, a decrease of $0.6 million, or 3.6%, compared to $18.0 million for the second quarter of 2021, and an increase of $1.5 million, or 9.3%, compared to $15.9 million for the first quarter of 2022. The decrease compared to the second quarter of 2021 was mainly due to the decrease in operating expenses, and the increase compared to the first quarter of 2022 was mainly due to the decrease in our gross profit.
Net loss was $18.0 million in the second quarter of 2022, an increase of $0.2 million, or 1.5%, compared to the $17.8 million net loss in the second quarter of 2021, and an increase of $2.1 million, or 13.3%, compared to the first quarter of 2022. Net loss excluding stock-based compensation, acquisition expenses and depreciation for the second quarter of 2022 was $11.8 million compared to $10.6 million for the second quarter of 2021 and $9.9 million in the first quarter of 2022.
Non-GAAP billings for the three months ended June 30, 2022, were $6.1 million, a 19% increase from $5.1 million for the three months ended June 30, 2021. The increase is a result of higher sales generated in the three months ended June 30, 2022, compared to the three months ended June 30, 2021. A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."
Financial Results for the Six Months Ended June 30, 2022:
Revenues for the six months ended June 30, 2022 were $14.2 million, a 60.8% increase from $8.8 million for the six months ended June 30, 2021.
Gross profit for the six months ended June 30, 2022 was $5.1 million, an increase of 98%, or $2.5 million, compared to gross profit of $2.6 million for the six months ended June 30, 2021.
Pro-forma gross profit, excluding $2 million of amortization of expenses related to acquisitions, was $7.1 million for the six months ended June 30, 2022, compared to a proforma gross profit of $4.2 million for the six months ended June 30, 2021. Pro-forma gross profit margin, excluding amortization of expenses related to the acquisitions, was 50.2% for the six months ended June 30, 2022, compared to 47.5% for the six months ended June 30, 2021.
Total operating expenses for the six months ended June 30, 2022 were $38.3 million, an increase of $3.4 million, or 9.8%, compared with $34.9 million for the six months ended June 30, 2021. The increase resulted from an increase in research and development activities and sales and marketing expenses.
Operating loss for the six months ended June 30, 2022 increased by $0.9 million to $33.2 million, compared to a $32.3 million operating loss for the six months ended June 30, 2021. This increase is mainly due to the increase in operating expenses. Total operating expenses excluding stock-based compensation, acquisition expenses and depreciation for the six months ended June 30, 2022 were $28.3 million compared to $24.1 million for the six months ended June 30, 2021.
Net loss was $33.9 million for the six months ended June 30, 2022 compared to a net loss of $32.7 million for the six months ended June 30, 2021. The increase was driven by higher operating expenses.
Non-GAAP billings for the six months ended June 30, 2022 were $14.1 million, a 59% increase from $8.8 million for the six months ended June 30, 2021.
Non-GAAP adjusted net loss for the six months ended June 30, 2022 was $21.1 million, a 6.5% increase from a $19.8 million non-GAAP adjusted net loss for the six months ended June 30, 2021.
A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."
Conference Call Details: Monday, August 15, 8:30am ET
Dial-in Number: 877-451-6152
International Dial-in: 201-389-0879
Conference ID: DarioHealth Second Quarter 2022 Results Call
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1562603&tp_key=47da09b71a
Participants are asked to dial-in approximately 10 minutes prior to the start of the event. A replay of the call will be available approximately two hours after completion through September 15, 2022. To listen to the replay, dial 844-512-2921 (domestic) or 412-317-6671 (international) and use replay passcode 13732068.
About DarioHealth Corp.
DarioHealth Corp. (Nasdaq: DRIO) is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. DarioHealth offers one of the most comprehensive digital therapeutics solutions on the market - covering multiple chronic conditions including diabetes, hypertension, weight management, musculoskeletal and behavioral health within one integrated technology platform.
Dario's next-generation, AI-powered, digital therapeutic platform supports more than just an individual's disease. Dario provides adaptive, personalized experiences that drive behavior change through evidence-based interventions, intuitive, clinically proven digital tools, high-quality software, and coaching to help individuals improve health and sustain meaningful outcomes.
Dario's unique user-centric approach to product design and engagement creates an unparalleled experience that is highly rated by users and delivers sustainable results.
The company's cross-functional team operates at the intersection of life sciences, behavioral science, and software technology and utilizes a performance-based approach to improve its users' health.
On the path to better health, Dario makes the right thing to do the easy thing to do. To learn more about DarioHealth and its digital health solutions or for more information, visit http://dariohealth.com, the content of which is not incorporated by reference in this press release.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of the Company related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses that it continues to enjoy tremendous momentum since establishing our focus on B2B2C, that the current B2B2C contract value totaling $55 million demonstrates the strength of its offering as an emerging leader in the digital therapeutics market, that it expects the decline in revenue observed in the second quarter to reverse in the second half of 2022 as it expects its customer to start contributing to revenue later in 2022, that it expects its DTC revenue and expenses to decrease as it focuses its resources on the B2B2C business, that it expects continuing, strong demand for its B2B2C solutions to more than offset the decrease in DTC revenue and support its anticipated revenue growth in 2023 and 2024, that it anticipates its strategic shift will significantly improve its financial profile with higher margins and an extended cash runway, that it anticipated announcing many more customers over the remainder of the year, the timing that certain agreements will begin contributing to revenue, that it anticipates exceeding 100 contracts by year end. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company's commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Non-GAAP Financial Measures
We have provided in this release financial information that has not been prepared in accordance with Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with peer companies, many of which present similar non-GAAP financial measures to investors.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures provided in the financial statement tables below.
Billings (non-GAAP). We define billings as revenue recognized in accordance with GAAP plus the change in deferred revenue from the beginning to the end of the period and adjustment to the deferred revenue balance due to adoption of the new revenue recognition standard less any deferred revenue balances acquired from business combination(s) during the period. We consider billings to be a useful metric for management and investors because billings drive future revenue, which is an important indicator of the health and viability of our business. There are a number of limitations related to the use of billings instead of GAAP revenue. First, billings include amounts that have not yet been recognized as revenue and are impacted by the term of security and support agreements. Second, we may calculate billings in a manner that is different from peer companies that report similar financial measures. Management accounts for these limitations by providing specific information regarding GAAP revenue and evaluating billings together with GAAP revenue.
Operating expenses (non-GAAP). Our presentation of non-GAAP operating expenses excludes stock-based compensation expenses. Due to varying available valuation methodologies, subjective assumptions, and the variety of equity instruments that can impact a company's non-cash operating expenses, we believe that providing non-GAAP financial measures that exclude non-cash expense provides us with an important tool for financial and operational decision making and for evaluating our own core business operating results over different periods of time.
Net loss (non-GAAP). Our presentation of adjusted net loss excludes the effect of certain items that are non-GAAP financial measures. Adjusted net loss represents net loss determined under GAAP without regard to stock-based compensation expenses, deferred inventory and depreciation of fixed assets. We believe these measures provide useful information to management and investors for analysis of our operating results.
DarioHealth Corporate Contact
Mary Mooney
VP Marketing
Mary@dariohealth.com
+1-312-593-4280
Media Contact:
Scott Stachowiak
Scott.Stachowiak@russopartnersllc.com
+1-646-942-5630
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SOURCE DarioHealth Corp. | https://www.whsv.com/prnewswire/2022/08/15/dariohealth-reports-second-quarter-2022-financial-operating-results/ | 2022-08-15T11:14:17Z |
POINTE-CLAIRE, QC, Aug. 15, 2022 /PRNewswire/ - Canada-based Medicom Group ("Medicom"), a world leader in the production and distribution of infection prevention and control solutions, is pleased to announce the appointment of Guillaume Laverdure as CEO. He succeeds Ronald Reuben, founder of the company, and becomes the second person in the history of the group to hold this position. Mr. Laverdure has most recently held the position of Chief Operating Officer within the Group.
A native of France, Mr. Laverdure is a graduate of HEC Paris and Harvard Business School. He joined Medicom in 2009 following an international career in Europe and the United States in finance, operations and general management. He led the company's transformation to masks and N95 respirators and oversaw the opening of six new personal protective equipment production facilities on three continents during the COVID-19 pandemic.
"Guillaume embodies the competency and humanity one would expect in a leader. I have had the pleasure of seeing him in action, defining his vision, accomplishing major strategic projects and interacting with our team members with respect and empathy. Medicom is at a pivotal point in its journey and I am confident that Guillaume will take the company to the next level. I will continue to lend my support where needed, as I assume the role of executive chairman effective today," commented Ronald Reuben, founder and new executive chairman of Medicom.
"It is with great humility and a great sense of privilege that I take the reins of the Medicom Group after having held several positions for over 13 years. I thank my friend Ronald for his trust and for all the years of good advice and leadership. Medicom has become a symbol of excellence in our industry thanks to the unwavering commitment of each member of our team to provide the best possible products to our customers. It is with this same mission to live up to our pride in protection that I begin my new mandate," said Guillaume Laverdure, Medicom's new CEO.
Medicom was founded in 1988 in response to the urgent need for medical gloves for healthcare professionals during the global HIV crisis. Since then, the company has evolved to become one of the world's leading manufacturers and distributors of high-quality, single-use, preventive and infection control products for the medical, dental, industrial, animal health, laboratory, retail and health and wellness markets.
Medicom has been a reliable supplier of infection control solutions during multiple epidemics, including avian flu, SARS, H1N1 and Ebola, as well as the COVID-19 pandemic, and was named one of Canada's Best Managed Companies for 2021 and 2022.
Today, the Medicom Group distributes infection control products under the Medicom, Ritmed, Kolmi, Hopen, Ocean Pacific and Hedy brands. Medicom subsidiaries include Kolmi-Hopen in France, Medicom Asia in Hong Kong, United Medical Enterprise in the U.S.A., KHM Engineering in Singapore and Medicom HealthPro Limited in the U.K.
For more information about Medicom and the company's comprehensive portfolio of infection control solutions, including an extensive range of medical face masks, follow us on Twitter @MedicomGlobal or visit our pages on Facebook or LinkedIn.
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SOURCE AMD Medicom Inc. | https://www.whsv.com/prnewswire/2022/08/15/guillaume-laverdure-appointed-ceo-medicom-group/ | 2022-08-15T11:14:24Z |
- Strong balance sheet of ~$324 million cash, cash equivalents and marketable securities as of June 30, 2022 is anticipated to fund planned operations into 2025
- Initiated IDE397 Phase 2 monotherapy expansion cohorts and Phase 1 combination dose escalation cohorts in solid tumors with MTAP deletion
- Entered into Clinical Trial Collaboration and Supply Agreement with Amgen to clinically evaluate IDE397 MAT2A inhibitor in combination with AMG 193, Amgen's investigational small molecule MTA-cooperative inhibitor of PRMT5, in MTAP-null solid tumors
- Retained worldwide rights to IDE397, following GSK waiver of its option to an exclusive license to further develop and commercialize IDE397
- Targeting interim Phase 2 clinical data update for darovasertib and crizotinib synthetic lethal combination in MUM in September 2022, including ORR, mPFS, mDOR, and AEs
- Tracking to submit an IND in Q4 2022 for PARG development candidate IDE161
- Selected potential first-in-class Pol Theta Helicase development candidate with GSK, and targeting Phase 1 initiation in H1 2023 for solid tumors with HRD
SOUTH SAN FRANCISCO, Calif., Aug. 15, 2022 /PRNewswire/ -- IDEAYA Biosciences, Inc. (Nasdaq: IDYA), a synthetic lethality focused precision medicine oncology company committed to the discovery and development of targeted therapeutics, provided a business update and announced financial results for the second quarter ended June 30, 2022.
"The IDE397 program is at a key inflection point, and as a wholly-owned program, is uniquely positioned for value accretion as we initiate monotherapy expansion and combination cohorts. Our clinical trial collaboration with Amgen enables clinical evaluation of IDE397 in combination with AMG 193, Amgen's investigational MTA-cooperative PRMT5 inhibitor, a potential first-in-class combination inhibiting two complementary synthetic lethal nodes within the MTAP pathway. The clinical ctDNA molecular response data from the IDE397 monotherapy dose escalation demonstrates target engagement and tumor pharmacodynamic modulation, and provides additional data on clinical activity," said Yujiro S. Hata, President and Chief Executive Officer, IDEAYA Biosciences.
"We look forward to providing the interim Phase 2 clinical data update for darovasertib and crizotinib synthetic lethal combination in first-line and any-line MUM patients in September 2022. This clinical data update will include, confirmed ORR by RECIST, median PFS, median duration-of-response, and an adverse event summary. We will also provide an update on a potential registrational path in MUM, and share observations supporting clinical proof of concept for potential use of darovasertib in the (neo)adjuvant UM setting," continued Mr. Hata.
"We have a pipeline of potential first-in-class synthetic lethality therapeutics advancing toward the clinic. We are targeting an IND in Q4 2022 for IDE161, our PARG inhibitor, for patients having tumors with HRD. In collaboration with GSK, we are targeting first-in-human clinical evaluation in H1 2023 for our Pol Theta Helicase development candidate in combination with niraparib for patients having tumors with HRD, and our Werner Helicase program with GSK continues to be on track for development candidate nomination in 2023," said Michael White, Senior Vice President and Chief Scientific Officer of IDEAYA Biosciences.
Program Updates
Key highlights for IDEAYA's pipeline programs include:
IDE397 (MAT2A)
IDEAYA is clinically evaluating IDE397, a potent and selective small molecule inhibitor targeting methionine adenosyltransferase 2a (MAT2A), in patients having solid tumors with methylthioadenosine phosphorylase (MTAP) deletion, a patient population estimated to represent approximately 15% of solid tumors. IDEAYA is continuing clinical development of IDE397 in its Phase 1/2 clinical trial, IDE397-001 (NCT04794699). Highlights:
- Patients are being identified by next generation sequencing (NGS) or by MTAP immunohistochemistry (IHC) assay with confirmatory NGS
- Initiated monotherapy expansion cohorts with enrollment open for NSCLC and esophagogastric tumors with MTAP deletion
- Initiated combination dose escalation cohorts with enrollment open for combinations with docetaxel in NSCLC, paclitaxel in esophagogastric cancer, and with pemetrexed in NSCLC and potentially other solid tumors
- Entered into Clinical Trial Collaboration and Supply Agreement with Amgen to clinically evaluate IDE397 MAT2A inhibitor in combination with AMG 193, Amgen's investigational small molecule MTA-cooperative inhibitor of PRMT5, in MTAP-null solid tumors
- Delivered IDE397 option data package to GSK comprising preclinical data and clinical data from the monotherapy dose escalation study of the Phase 1 clinical trial, including safety and tolerability data, pharmacokinetic and pharmacodynamic data
- Retained and fully own all right, title and interest in and to IDE397 and the MAT2A Program, following receipt of notice from GSK waiving its rights to exercise its option to obtain an exclusive license to further develop and commercialize IDE397, as well as other IDEAYA compounds, if any, directly targeting MAT2A
- Demonstrated IDE397 clinical tumor pharmacodynamic modulation based on ctDNA Molecular Responses observed in thirteen evaluable patients with liquid biopsy samples available at baseline and after first treatment cycle, including:
Darovasertib (PKC)
IDEAYA continues to advance its Phase 1/2 clinical trial evaluating darovasertib (IDE196), a potent and selective PKC inhibitor, in combination with crizotinib, a cMET inhibitor, in metastatic uveal melanoma (MUM). The company is also clinically evaluating darovasertib as a combination with crizotinib in GNAQ/11 mutant skin melanoma in an ongoing arm of the current clinical trial, and in (neo)adjuvant uveal melanoma (UM) as monotherapy through an investigator sponsor clinical trial (IST).
IDEAYA is planning to initiate a company-sponsored clinical trial to evaluate darovasertib in (neo)adjuvant uveal melanoma. The company is also evaluating other potential darovasertib expansion opportunities, including in cMET driven tumors and in KRAS-mutation tumors.
Darovasertib / Crizotinib Combination Therapy in Metastatic Uveal Melanoma (MUM)
IDEAYA is continuing patient enrollment into the darovasertib / crizotinib combination arm of the Phase 1/2 clinical trial under clinical trial collaboration and supply agreements with Pfizer. Highlights:
- IDEAYA presented preliminary darovasertib and crizotinib clinical combination data in December 2021. The reported preliminary data, based on an unlocked database, showed robust clinical activity, including 31% ORR (n=4 of 13 evaluable) in heavily pre-treated MUM patents, with manageable side effect profile
- Historical % ORR and median PFS by other therapies in MUM have been low, including ranging from 0% to 5% ORR and 2 to 3 months median PFS
- Prioritizing enrollment of additional first-line MUM patients based on observed early clinical partial responses
- Targeting interim Phase 2 clinical results for darovasertib and crizotinib synthetic lethal combination in first-line and any-line MUM patients in September 2022, including:
- In April 2022, the FDA designated darovasertib as an Orphan Drug in Uveal Melanoma, including MUM
- Collaborating with Pfizer under a clinical collaboration and supply agreement to support clinical evaluation of darovasertib and crizotinib combination in a potential registration-enabling clinical trial in MUM, subject to FDA feedback and guidance
Darovasertib – (Neo)Adjuvant Uveal Melanoma (UM)
IDEAYA is evaluating the potential for darovasertib in neoadjuvant and/or adjuvant uveal melanoma. Highlights:
- (Neo)adjuvant UM represents a significant expansion opportunity – with a potential annual incidence of approximately 6,400 patients aggregate in US and Europe
- IDEAYA has initiated an Investigator Sponsored Trial with St. Vincent's Hospital Sydney Limited to evaluate darovasertib as monotherapy in a neo-adjuvant and/or adjuvant setting in uveal melanoma patients
Darovasertib – Other Potential Indications
IDEAYA is evaluating the potential for darovasertib in other oncology indications, including in cMET-driven tumors and RAS-mutation tumors. Highlights:
- Collaborating with Pfizer under a clinical collaboration and supply agreement for clinical evaluation of darovasertib and crizotinib combination therapy in cMET-driven tumors, such as NSCLC or HCC; targeting initiation of a Phase 1/2 clinical trial in the first quarter of 2023
- Evaluating darovasertib in combination with a KRAS inhibitor in preclinical studies in KRAS-driven solid tumors
PARG
IDEAYA is advancing preclinical research for an inhibitor of poly (ADP-ribose) glycohydrolase (PARG) in patients having tumors with a defined biomarker based on genetic mutations and/or molecular signature. PARG is a novel target in the same clinically validated biological pathway as poly (ADP-ribose) polymerase (PARP). IDEAYA owns or controls all commercial rights in its PARG program. Highlights:
- Ongoing IND-enabling studies for IDE161, a potential first-in-class PARG inhibitor development candidate for patients having tumors with homologous recombination deficiencies (HRD), including BRCA1 and BRCA2, and potentially other alterations
- Targeting IND for IDE161 in the fourth quarter of 2022
- Considering potential development approaches based on observed activity of IDE161 in PARPi resistant and/or platinum-resistant tumors, differentiated sensitivity relative to PARP inhibitors, and improved preliminary safety profile relative to PARP inhibitors
Pol Theta
IDEAYA's DNA Polymerase Theta, (Pol Theta) program targets tumors with BRCA or other homologous recombination (HR) mutations or homologous recombination deficiency (HRD). IDEAYA and GSK are collaborating on ongoing preclinical research, including small molecules and protein degraders, and GSK will lead clinical development for the Pol Theta program. Highlights:
- Selected a potential first-in-class Pol Theta Helicase development candidate in collaboration with GSK
- Observed complete responses in preclinical combination studies of Pol Theta Helicase DC with niraparib in multiple in vivo PDX and CDX HRD models
- Targeting first-in-human clinical evaluation of Pol Theta Helicase DC combination with niraparib in H1 2023 for patients having tumors with HRD
- IDEAYA is eligible to receive future development and regulatory milestones of up to $485 million aggregate from GSK:
Werner Helicase
IDEAYA is advancing preclinical research for an inhibitor targeting Werner Helicase for tumors with high microsatellite instability (MSI). IDEAYA and GSK are collaborating on ongoing preclinical research, and GSK will lead clinical development for the Werner Helicase program. Highlights:
- Targeting selection of a Werner Helicase development candidate in 2023
- Potential for up to $20 million in aggregate milestone payments from GlaxoSmithKline for advancing a Werner Helicase inhibitor from preclinical to early Phase 1 clinical
Other Synthetic Lethality Pipeline Programs
IDEAYA is advancing additional preclinical research programs to identify small molecule inhibitors for an MTAP-synthetic lethality target, as well as for multiple potential first-in-class synthetic lethality programs for patients with solid tumors characterized by proprietary biomarkers or gene signatures.
General
IDEAYA continues to monitor Covid-19 and its potential impact on clinical trials and timing of clinical data results. Initiation of clinical trial sites, patient enrollment and ongoing monitoring of enrolled patients, including obtaining patient computed tomography (CT) scans, may be impacted for IDEAYA clinical trials evaluating IDE397 and darovasertib; the specific impacts are currently uncertain.
Corporate Updates
IDEAYA's net losses were $22.1 million and $14.0 million for the three months ended June 30, 2022 and March 31, 2022, respectively. As of June 30, 2022, the company had an accumulated deficit of $212.8 million.
As of June 30, 2022, IDEAYA had cash, cash equivalents and marketable securities of $323.8 million. IDEAYA believes that its cash, cash equivalents and marketable securities will be sufficient to fund its planned operations into 2025. These funds will support the company's efforts through potential achievement of multiple preclinical and clinical milestones across multiple programs.
Our updated corporate presentation is available on our website, at our Investor Relations page: https://ir.ideayabio.com/.
Financial Results
As of June 30, 2022, IDEAYA had cash, cash equivalents and short-term marketable securities totaling $323.8 million. This compared to cash, cash equivalents and short-term and long-term marketable securities of $346.2 million at March 31, 2022. The decrease was primarily due to cash used in operations.
Collaboration revenue for the three months ended June 30, 2022 totaled $5.9 million compared to $11.4 million for the three months ended March 31, 2022. Collaboration revenue was recognized for the performance obligations satisfied through June 30, 2022 under the GSK Collaboration Agreement.
Research and development (R&D) expenses for the three months ended June 30, 2022 totaled $22.8 million compared to $19.7 million for the three months ended March 31, 2022. The increase was primarily due to higher personnel-related expenses, clinical trial expenses and outside services.
General and administrative (G&A) expenses for the three months ended June 30, 2022 totaled $5.6 million compared to $5.9 million for the three months ended March 31, 2022. The decrease was primarily due to lower personnel-related expenses and outside services.
The net loss for the three months ended June 30, 2022 was $22.1 million compared to $14.0 million for the three months ended March 31, 2022. Total stock compensation expense for the three months ended June 30, 2022 was $3.0 million compared to $2.6 million for the three months ended March 31, 2022.
About IDEAYA Biosciences
IDEAYA is a synthetic lethality focused precision medicine oncology company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. IDEAYA's approach integrates capabilities in identifying and validating translational biomarkers with drug discovery to select patient populations most likely to benefit from its targeted therapies. IDEAYA is applying its research and drug discovery capabilities to synthetic lethality – which represents an emerging class of precision medicine targets.
Forward-Looking Statements
This press release contains forward-looking statements, including, but not limited to, statements related to (i) the extent to which IDEAYA's existing cash, cash equivalents, and marketable securities will fund its planned operations, (ii) the timing and content of an additional clinical data update for the darovasertib and crizotinib combination, (iii) the timing of submitting an IND for PARG inhibitor, IDE161, (iv) the timing of identification of initiating first-in-human clinical evaluation of Pol Theta inhibitor with niraparib, (v) the initiation of an IST to evaluate ID196 in a neo-adjuvant / adjuvant setting, (vi) the timing of initiation of a Phase 1/2 darovasertib and crizotinib clinical trial in cMET-driven tumors, (vii) the timing of identification of a development candidate for a Werner Helicase inhibitor, and (viii) the impact of COVID-19. Such forward-looking statements involve substantial risks and uncertainties that could cause IDEAYA's preclinical and clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the drug development process, including IDEAYA's programs' early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, IDEAYA's ability to successfully establish, protect and defend its intellectual property, the effects on IDEAYA's business of the worldwide COVID-19 pandemic, the ongoing military conflict between Russia and Ukraine, and other matters that could affect the sufficiency of existing cash to fund operations. IDEAYA undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of IDEAYA in general, see IDEAYA's recent Quarterly Report on Form 10-Q filed on August 15, 2022 and any current and periodic reports filed with the U.S. Securities and Exchange Commission.
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SOURCE IDEAYA Biosciences, Inc. | https://www.whsv.com/prnewswire/2022/08/15/ideaya-biosciences-inc-reports-second-quarter-2022-financial-results-provides-business-update/ | 2022-08-15T11:14:31Z |
GOTHENBURG, Sweden, Aug. 15, 2022 /PRNewswire/ -- Isofol Medical AB (publ) (Nasdaq Stockholm: ISOFOL) ("Isofol"), will publish the company's results for the second quarter of 2022 on Tuesday, August 23, 2022. On the same day, Isofol invites investors, analysts, and media to an audiocast with a subsequent question and answer session.
In conjunction with the publication of the interim report for the second quarter of 2022, Isofol invites investors, analysts, and media to an audiocast on August 23, 2022 at 12:30 p.m. CEST. The presentation will be held by Isofol's CEO Ulf Jungnelius and CFO Gustaf Albèrt, who will present and comment the report, followed by a Q&A-session. The presentation will be held in English.
Date and time
August 23, 2022, at 12.30 p.m. CEST
Webcast link
https://tv.streamfabriken.com/isofol-medical-q2-2022
Phone number
To participate via telephone, please dial one of the numbers below.
SWE: +46 8 50 51 63 86
UK +44 203 198 48 84
US +1 412 317 6300, PIN 3977834#
The presentation will also be available on Isofol's website after the broadcast:
https://isofolmedical.com/company-presentations/
Isofol Medical AB (publ)
Ulf Jungnelius, M.D., Chief Executive Officer
E-mail: jungnelius@isofolmedical.com
Phone: +46 (0) 709 16 89 55
Gustaf Albèrt, CFO
E-mail: gustaf.albert@isofolmedical.com
Phone: +46 (0)709-16 83 02
The information was submitted for publication, through the agency of the contact person set out above, at 11.15 CEST on August 15, 2022.
Isofol Medical AB (publ) is a clinical stage biotech company that is boldly progressing the status quo and advancing current standards of care for people living with cancer by working to improve the efficacy of the current chemotherapeutic standards of care. Singularly focused on developing a first line treatment for most patients with metastatic colorectal cancer (mCRC), Isofol seeks to elevate current clinical practice by unlocking the full strength of 5-FU with its compound in development. Isofol holds a worldwide exclusive licensing agreement with Merck & Cie, Darmstadt, Germany to develop and commercialize arfolitixorin for use in oncology. Isofol Medical AB (publ) is traded on Nasdaq Stockholm.
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SOURCE Isofol Medical AB (publ) | https://www.whsv.com/prnewswire/2022/08/15/invitation-presentation-isofols-report-second-quarter-2022/ | 2022-08-15T11:14:37Z |
Leading legal funding company seeing uptick in malpractice applications in recent months; expects trend to continue
NEWARK, N.J., Aug. 15, 2022 /PRNewswire/ --Legal-Bay Pre Settlement Funding Company announced today that they are seeing an increase in the number of medical malpractice funding applications. More complex than a typical personal injury lawsuit, these cases are aimed specifically toward negligent medical providers such as doctors, EMTs, nurses, and/or anyone who has caused a patient physical or emotional harm. Hospitals and surgery centers can also be targeted for compensation by patients who've received less-than-exemplary service. Basically, medical malpractice is a form of lawsuit that applies when there is personal injury inflicted on a patient while receiving medical care.
Legal-Bay has vast experience with medical malpractice lawsuits, and is why they are considered one of the best lawsuit funding companies in the industry. Whether you've already filed suit or need a lawyer in order to start the process, Legal-Bay can help.
Chris Janish, CEO of Legal-Bay commented, "Resolution for malpractice cases can take years to resolve. In the meantime, these patients who've been harmed may be out of work due to their injuries, yet still need some sort of financial assistance before they can even begin to get on with their lives. Many plaintiffs frustrated with the sluggish judicial process are choosing to apply for lawsuit cash advances rather than wait indefinitely for their cases to see the inside of a courtroom."
If you require an immediate cash advance settlement loan from your medical malpractice case, please visit our website HERE or call 877.571.0405.
Legal-Bay PreSettlement Funding can offer immediate cash in advance of a plaintiff's anticipated monetary award. The non-recourse lawsuit loans —sometimes referred to as loans for lawsuit or loans on settlement—are risk-free, as the money does not need to be repaid should the recipient lose their case. Therefore, the lawsuit loan isn't really a loan, but rather a cash advance. Legal-Bay funds all types of settlement loans including personal injury, car, truck, or boat accidents, commercial litigation, and more.
If you require an immediate cash advance loan settlement from your malpractice lawsuit, please visit the company's website HERE or call 877.571.0405 where skilled agents are standing by to hear about your specific case.
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SOURCE Legal-Bay, LLC | https://www.whsv.com/prnewswire/2022/08/15/legal-bay-lawsuit-pre-settlement-funding-announces-expanded-funding-medical-malpractice-cases/ | 2022-08-15T11:14:44Z |
The Inflation Reduction Act will provide tax credits of up to $3 per kg of clean hydrogen
OSLO, Norway, Aug. 15, 2022 /PRNewswire/ -- "This is a fantastic development - and one that completely transforms the outlook for green hydrogen in the USA. Only two weeks ago, Biden's bill looked dead. Now it's alive and kicking, we can say that the USA is going to be one of the cheapest places in the world to produce clean hydrogen," says Håkon Volldal, CEO of Nel.
The much-anticipated passing of the bill through the House of Representatives follows significant progress in the North American market for Nel, with the company's biggest electrolyser order to date announced in July this year. The 200MW stack, worth €45m ($46m) and potentially twice that amount with additional hardware, will go live in 2024.
"What makes this record order particularly special is that it represents a change in market dynamics. The customer has secured power supply over 20 years, and end-product demand over the same time period. Similar long-term prospects will only inspire further investment in green hydrogen and related infrastructure," Volldal says.
The coming Inflation Reduction Act is the latest in a series of political measures that are boosting prospects for green hydrogen. The EU's RePowerEU initiative aims for 10 million tonnes of green hydrogen production within the bloc, and a further 10 million tonnes to be imported, by 2030.
Multiple nations now have national hydrogen plans. Germany's is in the lead with a commitment to billions of euros of investment both domestically and internationally.
International political momentum and investor confidence supported Nel's recent decision to double its Herøya plant output, with 1GW coming online by early 2024.
"The international picture shows the power of market-based incentives and government support for green hydrogen. We of course hope to see more of the same both in Norway and overseas in the near future," Volldal says.
For further information, please contact:
Wilhelm Finder, Head of Investor Relations, +47 936 11 350
Lars Nermoen, Head of Communications, +47 902 40 153
About Nel ASA | www.nelhydrogen.com
Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. We serve industries, energy, and gas companies with leading hydrogen technology. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles - without the emissions.
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SOURCE NEL ASA | https://www.whsv.com/prnewswire/2022/08/15/nel-asa-biden-spending-plans-set-put-usa-lead-clean-hydrogen/ | 2022-08-15T11:14:51Z |
Company to Host Conference Call and Webcast August 15, 2022, at 8:30am ET
RADNOR, Pa., Aug. 15, 2022 /PRNewswire/ -- NRx Pharmaceuticals, Inc. (Nasdaq: NRXP), ("NRx Pharmaceuticals" or the "Company"), a clinical-stage biopharmaceutical company, today announced its financial results for the second quarter of 2022 and provided a business and clinical update.
"During our second quarter, we reactivated clinical development in our psychiatry franchise around our lead compound, NRX-101. NRX-101 has been awarded Breakthrough Therapy designation and a Special Protocol Agreement for severe bipolar depression with acute suicidal ideation and behavior (ASIB) by the U.S. Food and Drug Administration (FDA), said Stephen Willard, Chief Executive Officer of the Company. "We anticipate initiation of the study in severe bipolar depression with acute suicidal ideation and behavior (ASIB) to commence at the end of 2022 or at the beginning of 2023.
During this quarter, we commenced enrollment in our Phase 2 trial of NRX-101 in patients with Bipolar Depression and Sub-Acute Suicidal Ideation & Behavior (SSIB)", said Willard. "The purpose of this trial is to expand our potential indication from bipolar depression in patients with acute suicidality to the significantly larger population of patients with bipolar depression and sub-acute suicidality, who are being treated in the ambulatory setting. We are evaluating the adequacy of the protocol to support approval for the treatment of the larger SSIB population. We project a readout of the data from this trial by the end of the year or early Q1 of next year".
"We expect to release commercial-stage material of NRX-101 in the coming weeks. This material will be used in our phase 2b/3 trial of NRX-101 for severe bipolar depression in patients with acute suicidal ideation & behavior (ASIB) under the FDA Special Protocol Agreement, which we expect to start in Q4," said Mr. Willard.
Many approved drugs for bipolar depression have warning labels for increased risk of suicide. To our knowledge, NRX-101 is the only oral antidepressant in the bipolar segment that targets patients with active suicidality, which typically is an exclusion criterion in clinical studies of depression and PTSD. Phase 2 STABIL-B trial1 data of NRX-101 demonstrated a significant reduction in both depression and suicidality compared to standard therapy in acutely suicidal patients who were first stabilized with ketamine. We have released non-clinical findings demonstrating that, unlike ketamine, both components in NRX-101 have not shown potential for addiction and are not neurotoxic (i.e., do not cause death of brain cells in FDA-required assays).2
In Q2, we repatriated the manufacture of NRX-101 drug supply to North Carolina and are currently manufacturing clinical supplies for P3 as part of the commercial readiness program.
Our psychiatry franchise builds on a strong scientific and intellectual property foundation with 47 granted patents and 43 pending applications around the world. Our focus is to address this major unmet medical need for which the only currently approved treatment is electroshock therapy. It is estimated that 50% of individuals with bipolar disorder attempt suicide over their lifetime. We believe NRX-101 is a potentially life-saving medicine that could change the treatment paradigm for individuals with bipolar depression that are also experiencing suicidality."
We expect to evaluate the options for ZYESAMI® in COVID-19 Respiratory Failure and other lung disorders once we receive the full data set from NIH towards the end of Q3 or early Q4 and have conducted our own analysis.
Although we are not funding additional clinical trials of ZYESAMI® at this time, we have completed manufacture of phase 3/commercial ready ZYESAMI®. We also received an independent assessment of chest X-ray data from a sub-study that included a subgroup of approximately 80 patients that had survived to day 10 in our Phase 2b/3 study of ZYESAMI®. The sub-study showed a statistically significant improvement in chest X-rays using the RALES score in patients with COVID-19 respiratory failure, compared to a worsening in patients treated with placebo (P<.05). This exploratory data will further guide our assessment of future options for ZYESAMI®.
Key Business & Clinical Highlights
- Announced new leadership with the appointment of Stephen Willard, JD, as CEO and member of the Board of Directors, and Seth Van Voorhees, PhD, MBA, as CFO
- Repositioned company to focus on psychiatry franchise and our Breakthrough Therapy designated drug NRX-101 for Bipolar Depression in Patients with Suicidality. NRX-101 has additionally been awarded a Special Protocol Agreement by the FDA
- Repatriated manufacture of NRX-101 to a leading North Carolina-based manufacturer, completed technology transfer, and manufactured first batch of phase 3/commercial-ready NRX-101 capsules
- Initiated a Phase 2b trial of NRX-101 in patients with Bipolar Depression and Sub-Acute Suicidality (SSIB); 10 planned clinical sites are activated and are actively enrolling patients, with topline data readout anticipated at the end of Q4 22/Q1 23
- Received independent grading of chest x-rays from a subgroup of patients that survived to day 10 from the intravenous ZYESAMI® trial. Top line analysis shows a statistically significant change between baseline and day 10 on the RALES score (i.e., improvement in ZYESAMI®-treated patients and worsening in placebo-treated patients). Ongoing data analysis is continuing.
Financial Results for Quarter ended June 30, 2022
- Research and development expenses for the three months ended June 30, 2022, totaled $3.0 million, compared to $4.7 million for the quarter ended June 30, 2021. The decrease of $1.7 million related primarily to a decrease clinical trials and development expenses related to ZYESAMI®.
- General and administrative expenses for the three months ended June 30, 2022, totaled $6.6 million, compared to $12.5 million for the three months ended June 30, 2021. The decrease of $5.8 million was primarily related to a decrease in stock-based compensation and consultant fees, partially offset by an increase in higher insurance related expenses.
- Other income for the three months ended June 30, 2022, totaled $2.6 million, compared to $17.0 million for the three months ended June 30, 2021. The decrease of $14.4 million primarily related to a decrease in the fair value of certain Substitute Warrants and the Placement Warrants assumed pursuant to the Merger Agreement because of lower stock price levels.
- Net loss for the three months ended June 30, 2022, was $7.0 million compared with a net loss of $0.1 million for the three months ended June 30, 2021.
Financial Results for Six Months ended June 30, 2022
- Research and development expenses for the six months ended June 30, 2022, totaled $8.4 million, compared to $7.6 million for the six months ended June 30, 2021. The increase of $0.9 million related primarily to an increase in regulatory and process development expenses.
- General and administrative expenses for the six months ended June 30, 2022, totaled $16.9 million, compared to $14.6 million for the six months ended June 30, 2021. The increase of $2.3 million was primarily related to an increase in legal, professional and insurance expenses partially offset by a decrease in consultant fees and stock-based compensation expenses.
- Other Income for the six months ended June 30, 2022, totaled $4.9 million, compared to $17.1 million for the recently restated six months ended June 30, 2021. The decrease of $12.2 million primarily related to a decrease in the fair value of certain Substitute Warrants and the Placement Warrants assumed pursuant to the Merger Agreement because of lower stock price levels.
- Net loss for the six months ended June 30, 2022, was $20.4 million compared with a net loss of $25.6 million for the three months ended June 30, 2021.
- As of June 30, 2022, cash was $24.5 million compared to $27.6 million as of December 31, 2021. We believe that we have sufficient funds and if necessary, the ability to reduce expenditures, to support operations through August 2023. The Company may also seek to reduce certain expenditures if needed to reduce cash consumption in support of operations.
Conference Call and Webcast Details
Investors and the general public are invited to listen to a live audio webcast of the conference call, which may be accessed five minutes before the start of the call by dialing (844) 826-3033 (U.S.), (412) 317-5185 (International) Conference ID: 10170239, or through the webcast link NRx Pharmaceuticals Second Quarter 2022 Earnings Call. A replay will be available from the NRx Pharmaceuticals website for thirty days following the call at www.nrxpharma.com.
About NRX-101
Up to 50% of individuals with bipolar disorder attempt suicide over their lifetime, and estimates indicate that up to 20% may succumb to suicide. The only FDA-approved treatment for patients with bipolar depression and acute suicidal ideation & behavior (ASIB) remains electroconvulsive therapy (ECT). Conventional antidepressants can increase the risk of suicide in certain patients; hence their labels contain a warning to that effect. NRX-101 is a patented, fixed dose combination of D-cycloserine and lurasidone, neither of which has shown addiction potential. Based on the results of a Phase II study, NRX-101 received Breakthrough Therapy designation (BTD) from the FDA for the Treatment of Severe Bipolar Depression in Patients with ASIB after initial stabilization with ketamine or other effective therapy.
NRX-101 is one of the first oral antidepressants currently in late-stage clinical studies targeting the NMDA-receptor in the brain, which represents potentially a key new mechanism to treat depression with and without suicidality, as well as PTSD and other indications. To date, NRX-101 is the only oral NMDA investigational medicine focused on bipolar depression in patients with acute and sub-acute suicidality.
NRx Pharmaceuticals expects to begin its registration trial for NRX-101 under a SPA in 4Q 2022.
About NRx Pharmaceuticals
NRx Pharmaceuticals, Inc. draws upon decades of collective, scientific, and drug-development experience applying innovative science to known molecules to address very high unmet needs and bring improved health to patients. NRx Pharmaceuticals is led by executives who have held leadership roles at Lilly, Pfizer, and Novartis as well as major investment banking institutions.
Cautionary Note Regarding Forward-Looking Statements
This announcement of NRx Pharmaceuticals, Inc. includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995, which may include, but are not limited to, statements regarding our financial outlook, product development, business prospects, and market and industry trends and conditions, as well as the Company's strategies, plans, objectives, and goals. These forward-looking statements are based on current beliefs, expectations, estimates, forecasts, and projections of, as well as assumptions made by, and information currently available to, the Company's management.
The Company assumes no obligation to revise any forward-looking statement, whether as a result of new information, future events or otherwise. Accordingly, you should not place reliance on any forward-looking statement, and all forward-looking statements are herein qualified by reference to the cautionary statements set forth above.
CORPORATE CONTACT
Molly Cogan
Sr. Director, Global Communications
mcogan@nrxpharma.com
INVESTOR RELATIONS
Tim McCarthy
Investor Relations
tim@lifesciadvisors.com
###tables to follow###
1 NRX-101 (D-cycloserine plus lurasidone) vs. lurasidone for the maintenance of initial stabilization after ketamine in patients with severe bipolar depression with acute suicidal ideation and behavior: A randomized prospective phase 2 trial | medRxiv
2 https://www.biorxiv.org/content/10.1101/2022.06.18.496662v1
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SOURCE NRx Pharmaceuticals, Inc. | https://www.whsv.com/prnewswire/2022/08/15/nrx-pharmaceuticals-provides-business-update-reports-second-quarter-2022-results-focusing-reactivation-amp-advancement-its-psychiatry-franchise/ | 2022-08-15T11:14:57Z |
BOISE, Idaho, Aug. 15, 2022 /PRNewswire/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") announced today that its unaudited condensed consolidated financial results for the period ended June 30, 2022 were filed. For details, please see the Company's filings available on EDGAR and SEDAR.
Perpetua Resources' vision is to provide the U.S. with a domestic source of the critical mineral antimony, develop one of the largest and highest-grade open pit gold mines in the country and restore an abandoned brownfield site. Perpetua Resources is focused on advancing the permitting for the Stibnite Gold Project through the National Environmental Policy Act ("NEPA") process.
- Zero lost time incidents or reportable environmental spills in the second quarter of 2022
- Received first permit, the Clean Air Act Permit to Construct ("Air Permit") from the Idaho Department of Environmental Quality
- Launched Sustainability Roadmap which outlines 13 goals to guide the Company
- Held 2022 Annual General Meeting and shareholders voted in favor of all proposals
- Welcomed value-oriented Kopernik as a new shareholder
- Awarded contract for stream diversion work as part of Phase 1 early cleanup activities
- Began early environmental cleanup activities and held groundbreaking ceremony with local elected officials and community members
- Published 2021 Sustainability Report, the Company's ninth annual sustainability report
- Applauded United States Congress for taking steps to address vulnerabilities in the antimony supply chain, including the addition of an antimony reporting requirement under the National Defense Authorization Act
- Continued productive mediation discussions with the Nez Perce Tribe; an extension to the stay on the Clean Water Act matter was recently granted through October 31, 2022
- Hosted 14 site tours year-to-date for stakeholders including investors, regulators, environmental groups, media, elected officials, and community members
- Held over 30 antimony and project briefings year-to-date for government and administrative stakeholders
"Perpetua Resources had another productive quarter as we advanced our project through the permitting process, continued mediation discussions with the Nez Perce Tribe, and broke ground on early environmental cleanup activities at Stibnite," said Laurel Sayer, President and CEO of Perpetua Resources. "We received our first permit, marking a significant milestone for the Stibnite Gold Project and our goal to provide critical minerals essential for our national interests. We continue to anticipate the Supplemental Draft Environmental Impact Statement will be published in the third quarter of 2022 including a designated preferred project alternative."
In May 2022, Perpetua announced the U.S. Forest Service ("USFS") completed all of the 17 specialist reports in the first quarter of 2022 and circulated the preliminary Supplemental Draft Environmental Impact Statement ("SDEIS") for cooperating agency review. The SDEIS is anticipated to be released for public review in the third quarter of 2022.
Perpetua also continued to advance other local, state and federal permits in parallel with the NEPA process. The Clean Air Act Permit to Construct was received from the Idaho Department of Environmental Quality ("IDEQ") on June 17, 2022. The Air Permit mandates compliance with state and federal air standards and regulates emissions from construction and operation of the project. In late July, a Petition was filed by external groups requesting IDEQ to administratively review the Air Permit. The Company petitioned to intervene in the administrative process on August 12, 2022 to join IDEQ in defending the permit and the record justifying its requirements.
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources' ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company's commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the State of Idaho and other government agencies and regulatory bodies; predictions regarding improvements to water quality and other environmental conditions at the site; reduction of the Project footprint and the anticipated benefits and other effects thereof; our and Ambri, Inc.'s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the goals outlined in the Sustainability Roadmap are achievable; that we and Ambri will be able to agree on the terms of the Ambri agreement; that the general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase; and that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the public review process and SDEIS will proceed in a timely manner and as expected; and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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SOURCE Perpetua Resources Corp. | https://www.whsv.com/prnewswire/2022/08/15/perpetua-resources-announces-second-quarter-2022-highlights/ | 2022-08-15T11:15:05Z |
Cloud-Based Solution Provider's Deal Pipeline Management App Meets Industry Demand For All-In-One Platform That Tracks, Manages M&A Activity
CHICAGO, Aug. 15, 2022 /PRNewswire/ -- Practifi, a performance optimization platform for the wealth management industry, today announced the rollout of its latest application for business development ("BD app"). The new application, designed to address an industry need for managing multiple growth activities while tracking pipeline performance, features tools for comprehensive life cycle management through mergers and acquisitions, using the power of Practifi's award-winning platform.
Adrian Johnstone, President and Co-founder of Practifi, said, "The frenetic pace of M&A activity in the wealth management industry makes it important for RIAs, broker-dealers and network firms to manage their pipeline capably. After carefully listening to our clients, we created a new business development app so key decision-makers and their teams no longer have to rely on inefficient tools, such as CRMs that are not industry-specific, to operate with excellence and scale. For firms seeking to increase the efficiency of the acquisition process, our BD app will provide the best return on their investment."
The newly developed app makes it easy to manage the full acquisition life cycle within a single, unified platform. From deal prospecting and pipeline management to onboarding and integrating new firms and advisors, the Business Development app provides an end-to-end transition management experience for RIAs, IBDs and networks that are actively acquiring.
Ensuring a smooth and repeatable transition process, the BD app's comprehensive acquisition lifecycle ensures all deals progress through the same stages. Whether the firm or advisor is in consideration, contention, due diligence, onboarding or acquired, each acquisition target receives a standardized and consistent experience.
Tom Westhoff, Vice President of Sales at Practifi, concluded, "We've captured the best of Practifi's core capabilities and brought them into the M&A space, making it effortless for fast-growing firms to qualify and quantify the deals in their pipelines while managing back-office activity with flawless precision. From the first step of a transaction to successful acquisition, firms seeking to be the buyer of choice in the M&A market understand that they need to be seen as capable of seamless full integration. Our new app places wealth management's acquisition activity at the center of everything and will reap dividends for firms on the hunt for the best solution available."
Practifi is the performance optimization platform purpose-built for the wealth management industry. Practifi empowers teams to automate workflows, create rich client records, and access advanced analytics in a unified experience. With comprehensive APIs, a range of specialist wealth industry integrations, and an ecosystem of hundreds of integrated apps, our platform centralizes data and gives greater visibility across organizations. Headquartered in Chicago, Illinois, with offices in Sydney, Australia, Practifi enables organizations across the globe to deepen loyalty with their clients and pioneer the future of wealth management. To learn more, visit practifi.com.
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SOURCE Practifi | https://www.whsv.com/prnewswire/2022/08/15/practifi-launches-new-business-development-app-wealth-management-industry/ | 2022-08-15T11:15:11Z |
Company to host conference call and webcast today at 8:30 a.m. EDT
CARMIEL, Israel, Aug. 15, 2022 /PRNewswire/ -- Protalix BioTherapeutics, Inc. (NYSE American: PLX) (TASE: PLX), a biopharmaceutical company focused on the development, production and commercialization of recombinant therapeutic proteins produced by its proprietary ProCellEx® plant cell-based protein expression system, today reported financial results for the second quarter ended June 30, 2022 and provided a business update on recent corporate and regulatory developments.
"Positive topline results from our phase III BALANCE clinical trial of PRX-102 for the treatment of adult patients with Fabry disease were announced last April. The clinical study report (CSR) for the trial is now complete," said Dror Bashan, Protalix's President and Chief Executive Officer. "The final analysis of the BALANCE study, which was designed to evaluate the efficacy and safety of 1 mg/kg of PRX–102 administered every other week compared to agalsidase beta in patients previously treated with agalsidase beta, confirms the positive topline results and favorable tolerability profile. The results from the BALANCE study highlight our confidence that PRX–102 has the potential to become an important treatment option for patients with Fabry disease. We are excited to move closer to potential approval of PRX–102 and commercial launch, and thank our team members and external partners for their continued support."
2022 Second Quarter and Recent Business Highlights
Corporate Developments
- On June 30, 2022, the Company announced the appointment of Shmuel "Muli" Ben Zvi, Ph.D. to the Board of Directors. Dr. Ben Zvi is serving as the new Chairman of the Audit Committee and as a member of the Compensation Committee.
Second Quarter 2022 Financial Highlights
- The Company recorded revenues from selling goods of $3.4 million for the three months ended June 30, 2022, an increase of $0.2 million, or 6%, compared to revenues of $3.2 million for the same period of 2021.
- Revenue from licenses and R&D services for the three months ended June 30, 2022 were $5.4 million, an increase of $2.2 million, or 69%, compared to $3.2 million for the same period in 2021. Revenues from license and R&D services are comprised primarily of revenues recognized in connection with the Chiesi Agreements.
- Cost of goods sold for the three months ended June 30, 2022 was $4.1 million, a decrease of $0.6 million, or 13%, compared to cost of goods sold of $4.7 million for the same period in 2021. The decrease in cost of goods sold was primarily the result of decreased manufacturing costs due to higher yields and lower wastage.
- Research and development expenses for the three months ended June 30, 2022 were $7.6 million, a decrease of $0.1 million, or 1%, compared to $7.7 million for the same period in 2021.
- Selling, general and administrative expenses were $2.6 million for the three months ended June 30, 2022, a decrease of $0.6 million, or 19%, compared to $3.2 million for the same period in 2021. The decrease resulted primarily from a decrease in salary related and selling costs.
- Financial income, net were $0.2 million for the three months ended June 30, 2022, compared to financial expenses, net of $2.1 million for the same period in 2021. The decrease resulted primarily from lower interest and debt amortization costs due to a decrease in the Company's outstanding notes from an aggregate principal amount of $57.92 million of 2021 Notes to an aggregate principal amount of $28.75 million of 2024 Notes, and an increase in the exchange rate of New Israeli Shekels for U.S. Dollars over the period.
- Cash, cash equivalents and short-term bank deposits were approximately $28.6 million at June 30, 2022.
- Net loss for the three months ended June 30, 2022 was approximately $5.3 million, or $0.11 per share, basic and diluted, compared to a net loss of $11.2 million, or $0.25 per share, basic and diluted, for the same period in 2021.
Conference Call and Webcast Information
The Company will host a conference call today, August 15, 2022, at 8:30 a.m. Eastern Daylight Time, to review the corporate and clinical developments, which will also be available by webcast. To participate in the conference call, please dial the following numbers prior to the start of the call:
Conference Call Details:
Monday, August 15, 2022, 8:30 a.m. Eastern Daylight Savings Time (EDT)
Domestic: 877-423-9813
International: 201-689-8573
Conference ID: 13732027
Webcast Details:
The conference will be webcast live from the Company's website and will be available via the following links:
Company Link: https://protalixbiotherapeutics.gcs-web.com/events0
Webcast Link: Registration – https://tinyurl.com/44z7w7ex
Conference ID: 13732027
Please access the websites at least 15 minutes ahead of the conference to register, download and install any necessary audio software.
The conference call will be available for replay for two weeks on the Events Calendar of the Investors section of the Company's website, at the above link.
About Protalix BioTherapeutics, Inc.
Protalix is a biopharmaceutical company focused on the development and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system, ProCellEx. Protalix was the first company to gain U.S. Food and Drug Administration (FDA) approval of a protein produced through plant cell-based in suspension expression system. Protalix's unique expression system represents a new method for developing recombinant proteins in an industrial-scale manner.
Protalix's first product manufactured by ProCellEx, taliglucerase alfa, was approved by the FDA in May 2012 and, subsequently, by the regulatory authorities of other countries. Protalix has licensed to Pfizer Inc. the worldwide development and commercialization rights for taliglucerase alfa, excluding Brazil, where Protalix retains full rights.
Protalix's development pipeline consists of proprietary versions of recombinant therapeutic proteins that target established pharmaceutical markets, including the following product candidates: pegunigalsidase alfa, a modified stabilized version of the recombinant human α–Galactosidase–A protein for the treatment of Fabry disease; alidornase alfa or PRX–110, for the treatment of various human respiratory diseases or conditions; PRX–115, a plant cell-expressed recombinant PEGylated uricase for the treatment of severe gout; PRX–119, a plant cell-expressed long action DNase I for the treatment of NETs-related diseases; and others. Protalix has partnered with Chiesi Farmaceutici S.p.A., both in the United States and outside the United States, for the development and commercialization of pegunigalsidase alfa.
Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. The terms "expect," "anticipate," "believe," "estimate," "project," "may," "plan," "will," "would," "should" and "intend," and other words or phrases of similar import are intended to identify forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk and the final results of a clinical trial may be different than the preliminary findings for the clinical trial. Factors that might cause material differences include, among others: risks related to the timing and progress of the preparation of a Biologics License Application (BLA) resubmission addressing the complete response letter; risks related to the timing, progress and likelihood of final approval by the FDA and European Medicines Agency (EMA) of a resubmitted BLA and of a Marketing Authorization Application, respectively, for PRX–102 and, if approved, whether the use of PRX–102 will be commercially successful; likelihood that the FDA, EMA or other applicable health regulatory authorities will approve an alternative dosing regimen; failure or delay in the commencement or completion of our preclinical studies and clinical trials, which may be caused by several factors, including: slower than expected rates of patient recruitment; unforeseen safety issues; determination of dosing issues; lack of effectiveness during clinical trials; inability to satisfactorily demonstrate non-inferiority to approved therapies; inability or unwillingness of medical investigators and institutional review boards to follow our clinical protocols; and inability to monitor patients adequately during or after treatment; the risk that the FDA, EMA, or other foreign regulatory authorities may not accept or approve a marketing application we file for any of our product candidates, and other risks relating to the review process; risks associated with the novel coronavirus disease, or COVID–19, outbreak and variants, which may adversely impact our business, preclinical studies and clinical trials; risks related to any transactions we may effect in the public or private equity markets to raise capital to finance future research and development activities, general and administrative expenses and working capital; the risk that the results of the clinical trials of our product candidates will not support the applicable claims of safety or efficacy, or that our product candidates will not have the desired effects or will be associated with undesirable side effects or other unexpected characteristics; risks related to our ability to maintain and manage our relationship with our collaborators, distributors or partners; risks related to the amount and sufficiency of our cash and cash equivalents; risks relating to our ability to make scheduled payments of the principal of, to pay interest on or to refinance our outstanding notes or any other indebtedness; risks relating to changes to interim, topline or preliminary data from clinical trials that we announce or publish; risk of significant lawsuits, including stockholder litigation, which is common in the life sciences sector; our dependence on performance by third party providers of services and supplies, including without limitation, clinical trial services; delays in our preparation and filing of applications for regulatory approval; the inherent risks and uncertainties in developing drug platforms and products of the type we are developing; the impact of development of competing therapies and/or technologies by other companies and institutions; potential product liability risks, and risks of securing adequate levels of product liability and other necessary insurance coverage; risks related to our expectations with respect to the potential commercial value of our product and product candidates; and other factors described in our filings with the U.S. Securities and Exchange Commission. The statements in this press release are valid only as of the date hereof and we disclaim any obligation to update this information, except as may be required by law. The statements in this press release are valid only as of the date hereof and we disclaim any obligation to update this information, except as may be required by law.
Investor Contact
Chuck Padala, Managing Director
LifeSci Advisors
646-627-8390
chuck@lifesciadvisors.com
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SOURCE Protalix BioTherapeutics, Inc. | https://www.whsv.com/prnewswire/2022/08/15/protalix-biotherapeutics-reports-second-quarter-2022-financial-business-results/ | 2022-08-15T11:15:19Z |
INDIANAPOLIS, Aug. 15, 2022 /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, announced the following promotions today.
Donald G. Frey has been promoted to serve as the Company's Executive Vice President and appointed Treasurer. Mr. Frey has been with Simon for approximately 12 years, most recently as the Company's Senior Vice President and Assistant Treasurer. Prior to Simon, Mr. Frey practiced law at Alston & Bird LLP and Dechert LLP for eight years and has over 20 years of capital markets and legal experience.
Matt Jackson has been promoted to serve as the Company's Senior Vice President and Assistant Treasurer. Mr. Jackson has been with Simon for approximately four years, as the Company's Vice President of Treasury & Capital Markets. Prior to joining Simon, Mr. Jackson spent approximately nine years with The Procter & Gamble Company and served in numerous progressive finance and operational positions.
"We are excited to announce these well-deserved promotions," said Brian J. McDade, Executive Vice President and Chief Financial Officer. "Don and Matt have contributed in valuable ways, including navigating complex, successful re-financings and executing business process improvements. We congratulate Don and Matt on their new roles and look forward to their continued contributions."
About Simon
Simon® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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SOURCE Simon | https://www.whsv.com/prnewswire/2022/08/15/simon-announces-promotions/ | 2022-08-15T11:15:25Z |
ATLANTA, Aug. 15, 2022 /PRNewswire/ -- Join a conversation among experts as the Cyber Initiatives Group (CIG) launches its virtual Summer Summit this Wednesday, August 17 from 10a – 3p ET. Find out what's top of mind for government cyber executives and leaders from the private sector as we tackle topics ranging from Ukraine to Taiwan, why the US is not yet winning the technology race, why we're not moving faster to secure critical infrastructure, and the latest collaborations on securing software supply chains.
Hosted by Cipher Brief CEO and Publisher Suzanne Kelly, the summit will present keynote sessions with Victor Zhora, Chief Digital Transformation Officer at the State Service of Special Communications and Information Protection of Ukraine, Laura Galante, Intelligence Community Cyber Executive and Director of the Cyber Threat Intelligence Center, ODNI, and Lt. Gen. Michael Groen (ret.), former Director of the Joint Artificial Intelligence Center, DOD.
Other confirmed speakers include:
- Congressman Jim Langevin, Chair of the House Armed Services Committee's Subcommittee on Cyber Innovative Technologies, and Information Systems,
- The Hon. Susan Gordon, Former Principal Deputy Director of National Intelligence, ODNI
- Rear Adm. Mark Montgomery (Ret.), Former Executive Director US Cyberspace Solarium Commission
- Chris Krebs, Founding Partner of the Krebs Stamos Group
- Matt Hayden, Former Assistant Secretary of Homeland Security for Cyber, Infrastructure, Risk, and Resilience Policy
- Dmitri Alperovitch, Executive Chairman of Silverado Policy Accelerator
- Wendy Thomas, President & CEO of Secureworks
- Jim Guinn, Accenture's Global Cybersecurity Strategy Lead
- Teresa Shea, former Director of Signals Intelligence, NSA
- Steve Hill, Chief Information Security Officer for the Investment Bank and Americas, Credit Suisse
- Paddy McGuinness, former UK Deputy National Security Advisor for Intelligence, Security and Resilience
- Stuart Solomon, President, Recorded Future
- Kelly Bissell, Global Security Services Lead, Microsoft
- Greg Rattray, Co-Founder & Partner, Next Peak
- Jeanette Manfra, Director of Risk & Compliance, Google Cloud
- Edward Marshall, Global Head, Family Office & HNW Group, Dentons
- Jim Rosenthal, CEO, BlueVoyant
- Brad Medairy, Executive Vice President, Booz Allen Hamilton
Join us and see why 90% of survey respondents rank CIG summits among the best cyber events they've ever attended.
Register for the summit at www.cyberinitiativesgroup.com
The Cipher Brief is the only media outlet focused exclusively on bringing you a higher level of confidence around national security events via news, analysis, and interviews with government and private sector leaders.
http://www.thecipherbrief.com
www.cyberinitiativesgroup.com
Media Contact:
Erika Hipkins
ehipkins@thecipherbrief.com
719-534-3994
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SOURCE The Cipher Brief | https://www.whsv.com/prnewswire/2022/08/15/what-cyber-lessons-have-we-learned-since-russian-invasion-ukraine-how-might-they-play-out-face-increased-chinese-aggression-toward-taiwan/ | 2022-08-15T11:15:31Z |
Coney Island Castle opened Aug. 14 and is White Castle's first beachfront location in New York City
COLUMBUS, Ohio, Aug. 15, 2022 /PRNewswire/ -- White Castle, a family-owned business for 101 years, is making sure New Yorkers get another opportunity to enjoy that one-of-a-kind slider experience. The beloved fast-food hamburger chain, known as the home of The Original Slider®, opened a brand-new Castle on historic Coney Island yesterday.
White Castle has called New York City home since 1930 — more than nine decades. But this is the first Castle on Coney Island. Located at 3015 Stillwell Ave., the Castle is just steps away from the amusement park, aquarium and world-renown beach. It encompasses 1,600 square feet and features two dining tables and window seating.
"We're thrilled to bring White Castle to more New Yorkers with a new Castle on Coney Island," said Jamie Richards, vice president at White Castle. "It's a perfect match for an iconic burger chain and an iconic beach setting. We look forward to serving our loyal fans and connecting with new Cravers at this location."
This opening follows the re-opening of a Castle at 2092-2094 7th Ave. in Harlem. The uptown Castle re-opened in April following an extensive renovation that added stand-up eating counters and included a variety of interior and exterior improvements, illustrating White Castle's investment in the Harlem community. The Castle features a mural wall that showcases historical photos depicting special moments in White Castle's 101-year history, including its nearly 92 years in New York City.
"The renovation in Harlem and the brand-new Castle on Coney Island put our commitment to the New York City region front and center," Richardson said. "Our Craver fans in and around NYC have been so good to us, and we're incredibly grateful for their support."
White Castle opened its first New York City Castle in August 1930 at 550 E. Fordham Rd. in the Bronx. White Castle still has a restaurant on the site, although it's a much newer building.
About White Castle®
White Castle, America's first fast-food hamburger chain, has been making hot and tasty Sliders as a family-owned business for 101 years. Based in Columbus, Ohio, White Castle started serving The Original Slider® in 1921. Today White Castle owns and operates more than 350 restaurants dedicated to satisfying customers' cravings morning, noon and night and sells its famous fare in retail stores nationwide. The Original Slider, named in 2014 as Time magazine's "Most Influential Burger of All Time," is served alongside a menu of creatively crafted Sliders and other mouthwatering food options, including White Castle's Impossible™ Slider, named by Thrillist in 2019 as the "Best Plant-Based Fast Food Burger." White Castle's commitment to maintaining the highest quality products extends to the company owning and operating its own meat processing plants, bakeries and frozen-food processing plants. In 2021, 100 years after the first Slider was sold, Fast Company named the fast-food pioneer one of the "10 Most Innovative Dining Companies." White Castle is known for the legendary loyalty of its team members, more than 1 in 4 of whom have worked for White Castle for at least 10 years, and also for its faithful fans ("Cravers"), many of whom compete each year for entry into the Cravers Hall of Fame. The official White Castle app, available at iTunes App Store or Google Play, makes it easy for Cravers to access sweet deals and place pickup orders at any time. They can also have their orders delivered using one of White Castle's delivery partners. For more information on White Castle, visit whitecastle.com.
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SOURCE White Castle | https://www.whsv.com/prnewswire/2022/08/15/white-castle-expands-new-york-city-with-new-restaurant-coney-island/ | 2022-08-15T11:15:38Z |
PATAN KHEL, Afghanistan — "How beautiful is the spring of freedom!" exclaims elegant Pashto graffiti on a highway stop out of Kabul. The graffiti, in a Taliban stronghold, celebrates their forces' sweep into the Afghan capital in August 2021.
Now, a year later, the Taliban preside over a divided country with a battered economy, where hunger is rampant and human rights are assaulted; a country that aid groups fear has receded in the rearview mirror of the West.
Yet for the Taliban's loyalists and fighters, there is much to celebrate.
"This is freedom. This is real freedom. The invaders are gone, and now we have true Islam," says Ahmed Shah, a 40-year-old Taliban supporter.
After two decades of insurgency, the Taliban exhausted the world's most powerful military and their NATO allies, which agreed to withdraw from the country in a deal signed in February 2020. As Western troops were concluding their withdrawal last summer, the Taliban oversaw the rapid surrender, defeat or co-option of Afghan security forces — forces they saw as aiding a foreign occupation.
Today, the Taliban's particular interpretation of Islamic law is being imposed in fits and starts, largely over women and girls: Most girls cannot attend secondary schools. They may not travel long distances without a male guardian. Women report being hounded out of their jobs. They've been ordered to cover their faces in public, although the rule is only applied to women on television so far.
There are changes perhaps less noticed outside of Afghanistan: Afghans are living in relative security for the first time in decades. Aid groups reach areas that were previously off-limits. Primary-age boys and girls are attending schools in greater numbers, because it is now safe for them to go. "Of course, it's very cynical of the Taliban to say: We brought peace, I was shooting at you and now I stopped shooting at you," retorted a Western official who closely follows the Taliban, and who requested anonymity so he could speak freely.
The Taliban have raised some $2.5 billion through customs revenue and mining. They're shipping so much coal to Pakistan that there's a truck shortage. "They're working on energy and infrastructure projects in a way that looks like it's moving better and faster than under the Republic," said the Western official, referring to the former Afghan government.
Families are left to grieve those killed in the war
Ahmad Shah's family paid dearly in service of the Taliban's victory.
Two of his brothers, Taliban fighters, were killed six years ago by a drone strike after ambushing Afghan forces. His cousin, another Taliban fighter, was also killed.
Shah lives in the village of Patan Khel, roughly 75 miles southwest of Kabul. To get there, our vehicle juddered over enormous potholes, caused by explosives planted by the Taliban over two decades to strike their foes. The road is flanked by graves of fighters on rocky hills, marked with small flags hoisted on poles: white flags, green, red, even leopard print. The colorful cloth signifies a man who died young.
We veered off the highway and drove through mudbrick villages of the Shneez valley to reach Shah. Over lunch of bread and yogurt, he said when the Taliban took over Afghanistan last year, villagers saw divine intervention. "It was not possible but with the help of God."
Shah says villagers would fight for the Taliban again if they have to. For now though, their rivals are defeated.
Around Patan Khel, the families whose sons fought the Taliban have fled, fearing retribution. We ask Shah if he thinks those families grieve their slain sons, as he grieves his brothers.
Shah says he thinks they grieve more.
"I'm sure those people feel more pain than us because we lost our men fighting for the sake of Islam and Afghanistan, so we are comforted by that. What did their men die for?"
The words sting Mohammad Qassim, who we meet in a nearby market town. He was the oldest of six brothers. Now, they are four.
The brothers lost their father when they were young, and Qassim became a veterinary pharmacist to support the family. His brother joined the army for the same reason, and paid with his life — he was killed last year by an explosive planted near a checkpoint. "He was my beloved brother. He was the backbone of this family," Qassim weeps.
Qassim said his youngest brother didn't understand the sacrifices they made — and ran away to join the Taliban. Shortly afterwards, he was killed in a drone strike.
"The war has bought us disaster," Qassim says. "In our village, you will see widows and orphans. Their fathers were killed in the fighting. Now they're destitute."
As the Taliban took power, Western countries cut off aid
That destitution is palpably seen across Afghanistan, which was plunged into crisis after the Taliban seized power. Western aid that propped up the former Afghan government was cut off. Sanctions on Taliban leaders — now in government — dried up most international trade and banking. Washington froze Afghanistan's central bank assets held in the U.S.
Within weeks, businesses shut down, banks stopped money withdrawals, salaries couldn't be paid, and mothers began presenting to hospitals with starving babies.
Even for experts who track malnutrition, "what happened after August was really surprising," said Hsiao-Wei Lee, deputy director for the World Food Program in Afghanistan. She spoke to NPR in July. Afghans needing food aid roughly doubled to 20 million people, about half the population. Around 6.6 million need urgent assistance to survive.
Charity, big and small, keeps many Afghans going.
In Kabul, women, mostly enveloped in blue burqas, gather outside bakeries in upscale areas, hoping passersby will give them bread. Dust-smeared boys and girls bang on car windows in traffic jams for money. On the pavement, elderly men and women wait quietly for change.
Laborers often curl up in their wheelbarrows on the roadside, waiting for work that never seems to come. The city is awash in men and boys on rickety bicycles, because they can no longer afford the price of a bus ticket or a taxi.
"My business is good when the economy is bad," shrugs Tawfik Shirzad, a 25-year-old bicycle seller. "It doesn't make me happy. I see people who have lost their livelihoods, and they are buying a bike because they can't afford another way of getting about."
But it is still freedom, one 19-year-old Afghan woman noted. She couldn't be named because she is awaiting asylum in the U.S. due to threats against her family. Under the previous Western-backed government, she had defied conservative tradition to ride her bike to school. "They can do everything they want. But we can't. Like you see boys can go to school, but we can't."
Much of Afghanistan's economic woes, at least, are not only the Taliban's fault.
"The sanctions that have been placed on the Taliban," says Samira Sayed Rahman of the International Rescue Committee, are meant to hurt "a few hundred people in power. But 38 million people are suffering," she says, referring to Afghanistan's population.
While the U.N. has spent some $4 billion on Afghanistan since the takeover, it is less than half of the U.N.'s appeal for Afghanistan this year, said Ramiz Alakbarov, the U.N.'s resident and humanitarian coordinator in Afghanistan.
Alakbarov says it's a struggle to raise more, because relations between the Taliban government and Western countries are badly frayed. Western representatives accuse the Taliban of breaking pledges they made after they seized power.
Girls are still forced out of school
The most totemic of those pledges was the Taliban's promise to allow girls to return to secondary school on March 23 of this year. That decision was abruptly reversed after a last-minute huddle of senior officials with the Taliban's supreme leader.
Thousands of girls had already turned up to their old classrooms, only to be told to go home. Many left in tears. A lucky few study in secret schools — like the one run by a woman barely older than her students on Kabul's outskirts.
"Specifically, the broken promises on girls going back to school has really taken the international community aback," says Alakbarov of the U.N. "Donors have been watching that space very, very carefully. If the girls were back to school now," he says, alongside lifting other restrictions on women and the media, "there would have been a greater enthusiasm."
Most Taliban loyalists who have spoken to NPR say they don't agree with the ban, from Shah in Patan Khel, to turbaned bureaucrats in Kabul. Taliban-loyal clerics have criticized the ban as un-Islamic.
Yet the ban endures. It signals the ascendancy of what appears to be a hardline minority among the Taliban's most senior men, including the supreme leader himself. He is unlikely to be defied in a group that prizes consensus above all else.
Fraying the relationship between the Taliban government and the international community even further, in late July a U.S. drone struck al-Qaida leader Ayman al-Zawahiri in a house in a Kabul suburb. He was there despite a promise by the Taliban to not harbor militants seeking to harm America's security. Taliban spokesmen say they were not aware of his presence in the country.
It is hard to know what Afghans think of all this.
Nearly half of Afghanistan's local media outlets have shut down since the takeover. Critics of the Taliban have been muzzled. It is only a small group of Afghan women who still loudly protest, at a steep price of detention and beatings.
On Saturday, those women — about two dozen in all — marched down a Kabul main street. They shouted, "Bread! Work! Freedom!" Within minutes, Taliban security forces detained several Afghan and foreign journalists covering the protest. Then in a crackling burst of fire, several Taliban gunmen fired over the women's heads to disperse them.
Still, one woman whom NPR reached after the demonstration was defiant.
"After a year of this government, there is no change in the situation. We are showing that we won't stay silent," she said. "It's important to show the world that Afghans don't accept this. We will stand against injustice. We don't consent."
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-15/a-year-on-the-taliban-savor-victory-while-other-afghans-pay-the-price | 2022-08-15T11:35:17Z |
The season of searing temperatures will soon begin in northwestern Zimbabwe as the chilly months fade away. But for the villagers of Silewad the return of summer, storms and a new planting season increase the risk of elephants invading their land.
Silewad is near Hwange National Park, the country's premier game reserve which is roughly half the size of Belgium. Zimbabwe is home to Africa's second largest pachyderm population. It's growing at about five per cent a year, and that means competition for water and land between humans and the world's largest land mammal is increasing in and around Hwange.
During these last weeks of the cool months, the villagers rely on homemade remedies to keep elephants away from people, crops and water. In Silewad, not far from seasonal streams which attract elephants, five gloved and masked villagers use a large wooden pestle to pound a fermented mixture of chilis, garlic, ginger, neem leaves and elephant dung into a paste designed to keep the animals at bay.
Masaloni Ndlovu, 67, hangs plastic bottles of the ground chili paste on his fence to deter elephants which often wander through his homestead. Elephants hate the smell of the paste. But faced with another dry season forecast of patchy rains and poor harvests, people fear that the homemade remedies won't be enough to keep desperately thirsty elephants within the national park and out of village gardens.
Once a worker at a nearby railway station, Ndlovu recalls that elephants rarely wandered through the hamlet when he was younger, but now they are increasingly a common sight.
"We call the rangers to deal with the animals, but they don't do anything. We hardly saw elephants when I was younger but today they are everywhere and they eat everything we plant," he says.
Zimbabwe's elephant population is growing as climate change is making rainfall unpredictable. Depleting levels of groundwater in the Hwange game reserve are forcing animals to travel further in search of replenishment during the hot season. Villagers and conservationists fear that the competition for shrinking water resources could lead to deaths of local people and elephants. Already this year, at least 20 people have been killed in confrontations with elephants, according to Zimbabwe's National Parks and Wildlife Management Authority (ZimParks).
Growing, thirsty herds roam a drying earth
Elephants are especially vulnerable to rising temperatures. They need to drink up to 200 liters [50 gallons] per day, but during the summer they can lose up to 10 percent of body water daily. Research shows elephants migrate seasonally depending on the availability of water in Hwange National Park.
Between 1928 and 2005, during drought years with erratic rainfall, herbivore populations tended to migrate more frequently, according to another study. ZimParks has partnered with local and international donor conservation groups to drill more than 65 boreholes that create artificial watering holes throughout the year for more than 45,000 elephants that trek through Hwange. But the changing climate has raised concern among scholars and conservationists over the future sustainability of the animal sanctuary.
Dr. Simon Chamaillé-Jammes, deputy director of Hwange LTSER, the Long-Term Socio-Ecological Research center, has observed that droughts have intensified in sections of the game reserve.
"[W]e did publish a study showing that annual rainfall did not change that much on average over the 1940 - 2005 period, but that droughts, when they occurred, where much more severe than they used to be, with 50% reduction of rainfall during drought years in some areas of the park," he wrote in an email.
On the routes elephants typically take that wind through Zimbabwe, Angola, Botswana, Namibia and Botswana, an aerial survey was launched by the Kavango Transfrontier Conservation Area (KAZA TFCA) to count the wildlife roaming the Kavango Zambezi basin over the next four months. (Hwange Park is within the Kavango Zambezi basin.) Counting the large herds which roam this rich biodiverse area will help to determine animal numbers and the water needs of Southern Africa's mammals.
This is the first survey of its kind in this region, according to Teofilus Nghitila, executive director general of Namibia's wildlife and national parks management authority. The information gathered from the survey will also help in shaping elephant management policies, Nghitila said.
Climate change pushes elephants closer to people
Over the years, Southern Africa's climate has become increasingly vulnerable to weather patterns like El Nino, making rainfall patterns highly unpredictable, according to Narcisa Pricope, a professor of geography at the University of North Carolina Wilmington in the United States.
Some research has shown an increase in the occurrence and intensity of drought over many parts of Southern Africa, Pricope says. Rainy seasons have gotten more unreliable, with implications for humans and animals alike.
"So, local communities not only have to contend with unreliable precipitation patterns that make them food insecure in the first place," Pricope said in an email, "but on top of that, they have to live with wildlife in very close proximity as a result of the shrinking of water availability throughout the landscape in Hwange national park."
In 2019, hundreds of people were killed when Cyclone Idai struck eastern Zimbabwe. The same year, a drought in the western provinces resulted in the death of more than 200 elephants in Hwange National Park over just two months.
Pricope predicts if water scarcity persists it is likely to "amplify human wildlife conflicts especially in the areas adjacent to national parks where humans cohabit". Less water within the national park could drive animals closer to perennial water sources which are also close to human settlements.
A desperate solution to a deadly conflict
To manage the dilemmas of a changing climate and growing wildlife populations, regional governments are currently lobbying for the one-off sale of ivory stockpiles in order to finance human-wildlife conflict programs. But under a global treaty called the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), trade in ivory is strictly prohibited. CITES has previously allowed ivory sales on two occasions, but global resistance against the trade has grown stronger.
After the push to sell African stockpiles was chastised by international conservation groups, the Southern African states convened the African Elephant Conference in May and declared their intention to collectively lobby for permission to trade. The Southern African states, which includes Zimbabwe, hope to present their united position at the CITES Summit in Panama later this year.
Zimbabwe alone claims it is sitting on a 123 tonne stockpile worth an estimated $600 million, a figure questioned by environmental accountants.
Better water drilling to save people and elephants
But far from the high-powered summit and drawn out debates over the sale of tusks, villagers live with an impending crisis.
Hangani Dube, 79, bears the scars of this conflict. Dube was injured while trying to scare off a pair of intruding elephants in his vegetable garden one afternoon in May. The elephants, instead, charged and gored him with their tusks.
Writhing in pain, Dube dragged himself on his hips to the main highway where he found help to get to the nearest medical center. After a month in the infirmary, a frail Dube hobbles from place to place, unable to walk easily because of the steel plate implanted to keep his bones together. Feeling robbed of life, the old man wishes for more action to reduce the elephant herds in his area.
"I feel useless. I can't do anything for my family since I was injured. I used to take out my plough and plant with my cattle, but now I can't." he says. "I rely on my wife and sons to do everything I used to do."
He says bitterly: "The government has to cull these elephants before they hurt us all."
Zimbabwe has recently considered culling. In the past, more than 50,000 elephants were killed during culls between 1965 and 1988. However, this controversial control method would require significant financing, which the government lacks.
While the government weighs the sale of ivory or culling herds, villagers still live with the daily risk of elephants searching for water and food. When the rainy season begins in November, farmers will plant their crops, and Ndlovu will have to apply the chili fixative more regularly as his only defense against the marauding mammals. Other homegrown methods such as burning chili bricks and making chilli bombs are used in other areas, but they too have limited effectiveness in keeping elephants away.
Hwange's intermittent rain and persistent heat also harm vegetation. The elephants have to travel further in search of food as well as water. While there is no available research on Hwange's groundwater recharge rates, Chamaillé-Jammes cautions against drilling further boreholes near human settlements. His joint research has shown that more water holes tend to attract more elephants.
Chamaillé-Jammes recommends closing watering holes on the eastern section of Hwange to steer elephants away from villages and instead, drilling boreholes in the center of the game reserve with some only operating during periods of extreme drought. These "safety pans" might be one way of ensuring elephants are more likely to stay within the perimeter of the park.
As rising global temperatures signal more extreme droughts in the future, a more sustainable intervention than chili concoctions and one-off ivory sales is needed to halt Zimbabwe's deadly battle for resources in a parched land.
Follow Tendai Marima @i_amten on Instagram and Twitter.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-15/drought-is-driving-elephants-closer-to-people-the-consequences-can-be-deadly | 2022-08-15T11:35:23Z |
Still recovering from the last bout of fighting between Israel and Islamic Jihad last week, civilians in Gaza are exhausted by suffering through the cycles of conflict.
Copyright 2022 NPR
Still recovering from the last bout of fighting between Israel and Islamic Jihad last week, civilians in Gaza are exhausted by suffering through the cycles of conflict.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-15/gazans-say-they-pay-the-price-of-fighting-between-israel-and-militant-groups | 2022-08-15T11:35:30Z |
MOSCOW — Lawyers for American basketball star Brittney Griner on Monday filed an appeal against her nine-year Russian prison sentence for drug possession, Russian news agencies reported Monday.
Griner, a center for the Phoenix Mercury and a two-time Olympic gold medalist, was convicted on Aug. 4. She was arrested in February at Moscow's Sheremetyevo Airport after vape canisters containing cannabis oil were found in her luggage.
Griner played for a women's basketball team in Yekaterinburg during the WNBA offseason.
Lawyer Maria Blagovolina was quoted by Russian news agencies on Monday as saying the appeal was filed, but the grounds of the appeal weren't immediately clear.
Blagovolina and co-counsel Alexander Boykov said after the conviction that the sentence was excessive and that in similar cases defendants have received an average sentence of about five years, with about a third of them granted parole.
Griner admitted that she had the canisters in her luggage, but said she had inadvertently packed them in haste and that she had no criminal intent. Her defense team presented written statements that she had been prescribed cannabis to treat pain.
Before her conviction, the U.S. State Department declared Griner to be "wrongfully detained."
Secretary of State Antony Blinken took the unusual step of revealing publicly in July that the U.S. had made a "substantial proposal" to get Griner home home, along with Paul Whelan, an American serving a 16-year sentence in Russia for espionage.
Blinken didn't elaborate, but NPR, The Associated Press and other news organizations have reported that Washington has offered to free Viktor Bout, a Russian arms dealer who is serving a 25-year sentence in the U.S. and once earned the nickname the "Merchant of Death."
On Sunday, a senior Russian diplomat said exchange talks have been conducted.
"This quite sensitive issue of the swap of convicted Russian and U.S. citizens is being discussed through the channels defined by our presidents," Alexander Darchiev, head of the Foreign Ministry's North America department, told state news agency Tass. "These individuals are, indeed, being discussed. The Russian side has long been seeking the release of Viktor Bout. The details should be left to professionals, proceeding from the 'do not harm' principle.'"
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-15/lawyers-for-basketball-star-brittney-griner-appeal-her-russian-prison-sentence | 2022-08-15T11:35:36Z |
It's tough to escape the feeling that Hulu's docuseries Legacy: The True Story of the L.A. Lakers, is the answer to a bunch of questions asked in an entirely different venue.
That's due, at least in part, to the seismic impact earlier this year of HBO's scripted series hit Winning Time: The Rise of the Lakers Dynasty, which dramatizes some of the same events featured in Hulu's Legacy — charting the emergence of the Lakers as a championship basketball team and pop culture powerhouse during the "Showtime" era of the 1980s.
Though HBO's series drew viewers and attention, it also sparked a lot of criticism — as everyone from former Lakers star Kareem Abdul-Jabbar to former coach Jerry West complained about the unflattering license taken by the producers in depicting their lives.
In particular, Lakers owner Dr. Jerry Buss came off in HBO's show as a hard-partying doofus, played by star John C. Reilly as a womanizing glad-hander who parlayed a real estate fortune into an unlikely purchase of an NBA team, back when the league was less glamorous and the team wasn't winning championships.
Legacy features lots of excerpts from interviews with Buss, who died in 2013 after a long battle with cancer. Instead of Reilly's disorganized impulsivity, the real-life Buss comes across as a savvy, driven businessman with a doctorate in chemistry and a facility with numbers — whose love for sports and a good time led him to reinvent the Lakers, and by extension the NBA.
Similarly, West is shown in interviews conducted for the docuseries earnestly admitting he was tough on the Lakers' players as a coach — offering a much more low-key demeanor than the volatile, trophy-throwing portrayal by Australian actor Jason Clarke in HBO's series. And Abdul-Jabbar, who often came across as distant and a bit of a jerk on Winning Time, is measured and insightful while answering questions in interviews for Legacy.
A docuseries produced by the Lakers organization
Jeanie Buss, Jerry Buss's daughter and the current Lakers CEO, is an executive producer on Legacy alongside director Antoine Fuqua, whose credits include scripted films like Training Day and the Equalizer films. So it's no surprise that the docuseries features interviews with most every notable figure from the team's history who is still alive, including players like Earvin "Magic" Johnson, Shaquille O'Neal, and Boston Celtics superstar Larry Bird. Interviewees also include former coach Pat Riley, celebrity fans like actor Rob Lowe and musician Flea and all six of Jerry Buss' children, who were working at various positions in the Lakers organization when he died.
It's also no surprise that the docuseries sometimes tiptoes around unflattering controversies, excepting the drama surrounding the Buss family and the children's jockeying for jobs inside his empire. So Legacy doesn't explore Johnson's womanizing – a subject covered extensively in HBO's Winning Time — or offer any insight on how he contracted the HIV virus, which led to his first retirement from basketball.
Still, the segment of Legacy at the end of the fourth episode detailing how Johnson told the team that he had the virus — at a time when such diagnoses were considered a virtual death sentence — is moving. Johnson said he broke down crying with Jerry Buss, who had become a father figure to him, the day they held the press conference to announce his departure from the team in 1991.
"I've only seen my dad cry twice," said Jeanie Buss, who herself cried during her interview recalling when they retired Johnson's jersey after his first departure. "Once when his mother, my grandmother, passed away. And that day."
Moments that move beyond sports trivia
Legacy soars when it tells the kinds of stories that would interest more than hardcore Lakers fans. Riley admits how he let fame and acclaim as the Lakers' coach go to his head. Jeanie Buss details how her father's reputation as a playboy who dated a string of young girlfriends helped torpedo his efforts to buy the Dallas Cowboys football team. Player Byron Scott, raised in a tough neighborhood in Los Angeles, talked about coping with his mother going into rehab for drug addiction during his time on the team.
And there's lots of detail on how Jerry Buss developed the business of basketball, raising ticket prices in prestigious seats to boost revenue, developing the Laker Girls dance squad to add sex appeal to halftime shows while developing a cadre of celebrity fans to turn home games into star-studded events. Paired with the team's fast-paced playing style, Jerry Buss' innovations created an exciting presentation that justified the "Showtime" nickname.
Still Legacy tells its story in the style of most sports documentaries, especially in its early episodes, mixing archival interviews and game footage with contemporary talks filmed specifically for the project. And the decision to make conflict between the Buss siblings a major thread running through the docuseries sometimes results in a lot of time spent telling viewers about people they may not know or care much about.
In the end, Legacy offers some unique insights and emotional stories while exploring how the Buss family turned the risky purchase of a basketball team into a $5 billion empire. It's also a pretty solid retort to some of the excesses in HBO's series.
But given the control the family exerted over the project, you can't help wondering what else got left on the cutting room floor. And how much better this docuseries might be if they had left that stuff in.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.wyomingpublicmedia.org/2022-08-15/legacy-offers-a-blander-history-of-the-la-lakers-showtime-era | 2022-08-15T11:35:43Z |
It's been a year since the Taliban seized power in Afghanistan. Threats against the FBI from Trump supporters are up. Fighting near a Ukrainian nuclear power plant raises fears of a nuclear accident.
Copyright 2022 NPR
It's been a year since the Taliban seized power in Afghanistan. Threats against the FBI from Trump supporters are up. Fighting near a Ukrainian nuclear power plant raises fears of a nuclear accident.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-15/news-brief-afghan-women-protest-fbi-faces-threats-ukraine-nuclear-plant | 2022-08-15T11:35:49Z |
NPR's Leila Fadel talks to David Laufman, former head of the Justice Department's counterintelligence and export control section, about materials seized by the FBI at Trump's Florida home last week.
Copyright 2022 NPR
NPR's Leila Fadel talks to David Laufman, former head of the Justice Department's counterintelligence and export control section, about materials seized by the FBI at Trump's Florida home last week.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-15/some-insight-into-whats-been-learned-from-the-documents-seized-at-mar-a-lago | 2022-08-15T11:35:56Z |
Abby the dog, who went missing on June 9, was found 500 feet underground in a cave near Perryville, Mo. Abby was muddy and malnourished.
Copyright 2022 NPR
Abby the dog, who went missing on June 9, was found 500 feet underground in a cave near Perryville, Mo. Abby was muddy and malnourished.
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-15/spelunking-team-finds-missing-dog-who-was-trapped-in-a-cave-for-weeks | 2022-08-15T11:36:02Z |
People of Afghanistan's Tangi Valley celebrated the Taliban takeover one year ago. Now, what do they want from their government?
Copyright 2022 NPR
People of Afghanistan's Tangi Valley celebrated the Taliban takeover one year ago. Now, what do they want from their government?
Copyright 2022 NPR | https://www.wyomingpublicmedia.org/2022-08-15/what-did-afghans-gain-and-lose-in-a-region-that-supported-the-taliban | 2022-08-15T11:36:08Z |
Vehicles have evolved over the years, but one thing that hasn’t changed is that nothing beats a clean car --and Killer Queen Detailing was voted by you as one of the Best Of Hawaii!
Owner, Joshua George shared, “Killer Queen Detailing is a locally-owned company that is trying to restore true aloha back into our customers and clients.” They provide, “Detailing services --including interior, exterior detailing, we do ceramic coating-- and just a couple months ago, we launched our tinting side...,” added owner, Lindsey George.
They strive to provide quality service. “We give our customers 120%, we’re accountable for all of our actions. We want to make sure that our customers have the best service, the best experience...,” shared Lindsey.
To book an appointment, customers can make an appointment right over the phone and book directly online. Joshua explained, “We are one of the very few companies that have the same day turnaround included in our full detailing packages as well as our ceramic coating packages.”
Joshua has found that, “A lot of the times, customers are more amazed at just the service that we provide in person versus having it done...through a mainland company.” Lindsey added, “We want to make sure that our customers are always happy. We try to do our best to make sure that we provide everything they expect and more. “
As Miss Hawaii 2019 & 2020, Nikki was a representative for the Aloha State and was highly involved with the community as she promoted the importance of service. Nikki is the host of KITV's entertainment and culture platform, ISLAND LIFE. | https://www.kitv.com/island-life/business/best-of-hawaii-killer-queen-detailing/article_4a51201a-150d-11ed-8268-ab312e6b4a29.html | 2022-08-15T12:05:38Z |
Still recovering from the last bout of fighting between Israel and Islamic Jihad last week, civilians in Gaza are exhausted by suffering through the cycles of conflict.
Copyright 2022 NPR
Still recovering from the last bout of fighting between Israel and Islamic Jihad last week, civilians in Gaza are exhausted by suffering through the cycles of conflict.
Copyright 2022 NPR | https://www.keranews.org/2022-08-15/gazans-say-they-pay-the-price-of-fighting-between-israel-and-militant-groups | 2022-08-15T12:12:03Z |
It's been a year since the Taliban seized power in Afghanistan. Threats against the FBI from Trump supporters are up. Fighting near a Ukrainian nuclear power plant raises fears of a nuclear accident.
Copyright 2022 NPR
It's been a year since the Taliban seized power in Afghanistan. Threats against the FBI from Trump supporters are up. Fighting near a Ukrainian nuclear power plant raises fears of a nuclear accident.
Copyright 2022 NPR | https://www.keranews.org/2022-08-15/news-brief-afghan-women-protest-fbi-faces-threats-ukraine-nuclear-plant | 2022-08-15T12:12:10Z |
NPR's Leila Fadel talks to David Laufman, former head of the Justice Department's counterintelligence and export control section, about materials seized by the FBI at Trump's Florida home last week.
Copyright 2022 NPR
NPR's Leila Fadel talks to David Laufman, former head of the Justice Department's counterintelligence and export control section, about materials seized by the FBI at Trump's Florida home last week.
Copyright 2022 NPR | https://www.keranews.org/2022-08-15/some-insight-into-whats-been-learned-from-the-documents-seized-at-mar-a-lago | 2022-08-15T12:12:16Z |
Spelunking team finds missing dog who was trapped in a cave for weeks Published August 15, 2022 at 6:20 AM CDT Facebook Twitter LinkedIn Email Listen • 0:28 Abby the dog, who went missing on June 9, was found 500 feet underground in a cave near Perryville, Mo. Abby was muddy and malnourished. Copyright 2022 NPR | https://www.keranews.org/2022-08-15/spelunking-team-finds-missing-dog-who-was-trapped-in-a-cave-for-weeks | 2022-08-15T12:12:22Z |
What did Afghans gain — and lose — in a region that supported the Taliban? By Steve Inskeep Published August 15, 2022 at 4:13 AM CDT Facebook Twitter LinkedIn Email Listen • 7:01 People of Afghanistan's Tangi Valley celebrated the Taliban takeover one year ago. Now, what do they want from their government? Copyright 2022 NPR | https://www.keranews.org/2022-08-15/what-did-afghans-gain-and-lose-in-a-region-that-supported-the-taliban | 2022-08-15T12:12:28Z |
Brother of former NFL player sought in fatal shooting at youth football game, police say
Published: Aug. 15, 2022 at 7:49 AM EDT|Updated: 26 minutes ago
LANCASTER, Texas (CNN) - An altercation between coaches at a youth football game in Texas led to a fatal shooting Saturday night.
The Lancaster Police Department has issued a warrant for the arrest of Yaqub Salik Talib.
He’s the brother of Super Bowl champion Aqib Talib, who played for five teams over the course of 11 years in the NFL.
The shooting took place in Lancaster Community Park about 17 miles south of Dallas.
Authorities have not released the name of the victim.
Copyright 2022 CNN Newsource. All rights reserved. | https://www.wvva.com/2022/08/15/brother-former-nfl-player-sought-fatal-shooting-youth-football-game-police-say/ | 2022-08-15T12:15:53Z |
Drought-stricken states in West face deadline to cut water use
SALT LAKE CITY (AP) — Banks along parts of the Colorado River where water once streamed are now just caked mud and rock as climate change makes the Western U.S. hotter and drier.
More than two decades of drought have done little to deter the region from diverting more water than flows through it, depleting key reservoirs to levels that now jeopardize delivery and hydropower production.
Cities and farms in seven U.S. states are bracing for cuts this week as officials stare down a deadline to propose unprecedented reductions to their use of the water, setting up what’s expected to be the most consequential week for Colorado River policy in years.
The U.S. Bureau of Reclamation in June told the states — Arizona, California, Colorado, Nevada, New Mexico, Utah and Wyoming — to figure out how to use at least 15% less water next year, or have restrictions imposed on them. On top of that, the bureau is expected to publish hydrology projections that will trigger additional cuts already agreed to.
“The challenges we are seeing today are unlike anything we have seen in our history,” Camille Touton, the bureau’s commissioner, said in a U.S. Senate hearing that month.
Tensions over the extent of the cuts and how to spread them equitably have flared, with states pointing fingers and stubbornly clinging to their water rights despite the looming crisis.
“It’s not fun sitting around a table figuring out who is going to sacrifice and how much,” said Bill Hasencamp, the Colorado River resources manager at Metropolitan Water District, which provides water to most of Southern California.
Representatives from the seven states convened in Denver last week for eleventh-hour negotiations behind closed doors. Officials party to discussions said the most likely targets for cuts are farmers in Arizona and California. Agricultural districts in those states are asking to be paid generously to shoulder that burden.
The Colorado River cascades down from the Rocky Mountains into the arid deserts of the Southwest. It’s the primary water supply for 40 million people. About 70% of its water goes toward irrigation, sustaining a $15 billion-a-year agricultural industry that supplies 90% of the United States’ winter vegetables.
The river is divided among Mexico and the seven U.S. states under a series of agreements that date back a century, to a time when more water flowed through the river. But climate change has transformed the river’s hydrology, providing less snowmelt and causing hotter temperatures and more evaporation. As it’s yielded less water, the states have agreed to cuts tied to the levels of reservoirs that store river water.
Last year, federal officials for the first time declared a water shortage, triggering cuts to Nevada, Arizona and Mexico’s share of the river to help prevent the two largest reservoirs — Lake Powell and Lake Mead — from dropping low enough to threaten hydropower production and stop water from flowing through their dams.
The proposals for supplemental cuts due this week have inflamed disagreement between upper basin states — Colorado, New Mexico, Utah and Wyoming — and lower basin states — Arizona, California and Nevada — over how to spread the pain. The lower basin states use most of the water and have thus far shouldered most of the cuts. The upper basin states have historically not used their full allocations but want to maintain their water rights to plan for population growth.
Gene Shawcroft, the chairman of Utah’s Colorado River Authority, believes the lower basin states should take most of the cuts because they use most of the water and their full allocations.
He said it was his job to protect Utah’s allocation for growth projected for decades ahead: “The direction we’ve been given as water purveyors is to make sure we have water for the future.”
In a letter last month, representatives from the upper basin states proposed a five-point conservation plan that they said would save water but argued most of the cuts needed to come from the lower basin. The plan didn’t commit to any numbers.
“The focus is getting the tools in place and working with water users to get as much as we can rather than projecting a water number,” Chuck Cullom, the executive director of the Upper Colorado River Commission, told The Associated Press.
That position, however, is unsatisfactory to many in lower basin states already facing cuts.
“It’s going to come to a head particularly if the upper basin states continue their negotiating position, saying, ‘We’re not making any cuts,’” said Bruce Babbitt, who served as Interior secretary from 2003-2011.
Lower basin states have yet to go public with plans to contribute, but officials said last week that they had a tentative proposal to reduce consumption that fell slightly short of the federal government’s request to cut 2 to 4 million acre-feet.
An acre-foot of water is enough to serve two to three households annually.
Hasencamp, the Metropolitan Water District’s Colorado River resource manager, said all the districts in the state that draw from the river had agreed to contribute water or money to the plan, pending approval by their respective boards. Water districts, in particular the Imperial Irrigation District, have been adamant that any voluntary cut does not curtail their high priority water rights.
Southern California cities likely will be putting up money that could fund fallowing farmland in places like Imperial County, and water managers are considering leaving water they’ve stored in Lake Mead as part of their contribution.
Arizona will likely be hit hard with reductions. The state has in the past few years shouldered much of the cuts and with its growing population and robust agricultural industry, has less wiggle room than its neighbors to take on more, said Arizona Department of Water Resources Director Tom Buschatzke. Some tribes in Arizona have also contributed to propping up Lake Mead in the past, and could play an outsized role in any new proposal.
Irrigators around Yuma, Arizona, have proposed taking 925,000 acre-feet less of Colorado River water in 2023 and leaving it in Lake Mead if they’re paid $1.4 billion, or $1,500 per acre-foot. The cost is far above the going rate, but irrigators defended their proposal as fair considering the cost to grow crops and get them to market.
Wade Noble, the coordinator for a coalition that represents Yuma water rights holders, said it was the only proposal put forth publicly that includes actual cuts, rather than theoretical cuts to what users are allocated on paper.
Some of the compensation-for-conservation funds could come from a $4 billion drought earmark in the Inflation Reduction Act under consideration in Washington, U.S. Sen. Kyrsten Sinema of Arizona told the AP.
Sinema acknowledged paying farmers to conserve wasn’t a long-term solution: “In the short-term, however, in order to meet our day-to-day needs and year-to-year needs, ensuring that we’re creating financial incentives for non-use will help us get through,” she said.
Babbitt, too, said money in the legislation will not “miraculously solve the problem,” and prices for water must be reasonable to avoid gouging because most water users will take a hit.
“There’s no way that these cuts can all be paid for at a premium price for years and years,” he said.
__
Fonseca reported from Flagstaff, Arizona. Associated Press reporter Kathleen Ronayne contributed from Sacramento, California.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/08/15/drought-stricken-states-west-face-deadline-cut-water-use/ | 2022-08-15T12:16:00Z |
Heavy rain may lead to flash flooding today
A Flood Watch is in effect for the majority of the viewing area
A FLASH FLOOD WARNING IS IN EFFECT FOR NORTHERN FAYETTE COUNTY UNTIL 11 AM. LIFE THREATENING FLASH FLOODING IS ONGOING AND MULTIPLE ROADS HAVE HIGH WATER OVER THEM. IF YOU COME ACROSS A FLOODED ROADWAY, TURN AROUND, DON’T DROWN!
A FLASH FLOOD WARNING IS IN EFFECT IN WESTERN GREENBRIER COUNTY UNTIL 10:30 AM. FLASH FLOODING IS ONGIONG AND SOME ROADS ARE CLOSED DUE TO FLOODING.
A FLOOD WATCH IS IN EFFECT FOR THE MAJORITY OF THE REGION UNTIL TONIGHT. FLASH FLOODING IS POSSIBLE THROUGHOUT THE REST OF THE DAY AS HEAVY THUNDERSTORMS MOVE THORUGH. STAY WEATHER AWARE!!
We are dealing with flooding issues this morning across parts of the region and heavy rain and storms could lead to more flooding throughout the rest of the day. Scattered showers and thunderstorms are possible today and into the evening hours and they could produce heavy rainfall which may lead to flooding. Temperatures will top off in the 70s for most this afternoon.
Scattered showers and storms are possible tonight, especially during the evening hours. Some storms may contain heavy rainfall which could lead to flooding issues. Lows will be in the 60s for most tonight.
Some spotty showers are possible tomorrow, but not everyone will see rain. Otherwise, we’ll see mainly cloudy skies and temperatures in the upper 60s and low-mid 70s.
Isolated showers are possible throughout the middle of the week, but most should stay rain free. Highs will continue to stay below average in the 70s for most.
A better chance of showers and storms returns for the end of the week and into the weekend. Make sure to stay tuned and catch the latest on WVVA.
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/08/15/heavy-rain-may-lead-flash-flooding-today/ | 2022-08-15T12:16:06Z |
US: Drone attack targets US base in Syria
Published: Aug. 15, 2022 at 6:45 AM EDT|Updated: 2 hours ago
BEIRUT (AP) — The U.S. military says an attack with drones hit a compound run by American troops and U.S.-backed Syrian opposition fighters in eastern Syria.
The military says there were no casualties or damage.
It said Monday’s attack took place in the vicinity of al-Tanf base near where the borders of Syria, Jordan and Iraq meet.
There was no claim of responsibility for the attack.
U.S. and coalition troops are based at al-Tanf to train Syrian opposition forces on patrols to counter militants from the Islamic State group.
Such attacks on al-Tanf are rare.
U.S. officials said in October they believe Iran was behind a similar attack on the base that month.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/08/15/us-drone-attack-targets-us-base-syria/ | 2022-08-15T12:16:14Z |
British regulator 1st to OK Moderna’s updated COVID-19 booster
LONDON (AP) — British drug regulators have become the first in the world to authorize an updated version of Moderna’s coronavirus vaccine that aims to protect against the original virus and the omicron variant.
In a statement on Monday, the Medicines and Healthcare Regulatory Agency said it had given the green light to Moderna’s combination “bivalent” vaccine, which will be used as an adult booster shot.
Each dose of the booster shot will target both the original COVID-19 virus that was first detected in 2020 and the omicron BA.1 variant that was first picked up in November. British regulators said the side effects were similar to those seen for Moderna’s original booster shot and were typically “mild and self-resolving.”
“What this (combination) vaccine gives us is a sharpened tool in our armoury to help protect us against this disease as the virus continues to evolve,” said Dr June Raine, the head of Britain’s health care and medicines regulator.
Such an approach is used with flu shots, which are adjusted each year depending on the variants that are circulating and can protect against four influenza strains.
Stephane Bancel, Moderna’s Chief Executive, said in a statement that it was the first regulatory authorization for a vaccine aiming to fight the omicron variant, predicting the booster would have an “important role” to play in protecting people against COVID-19 in the winter.
Britain’s health officials have not yet decided whether the tweaked vaccine will be used in its fall strategy. In July, the government said everyone 50 and over would get a COVID booster in the fall.
On Friday, Germany’s health minister said the European Medicines Agency might clear the tweaked COVID-19 booster next month.
In June, the U.S. Food and Drug Administration told vaccine makers that any booster shots tweaked for the fall would have to include protection against the newest omicron variants.
According to the World Health Organization, the latest global surge of COVID-19 has been driven by omicron subvariant BA.5, which is responsible about 70% of the virus samples shared with the world’s largest public virus database.
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Follow AP’s coverage of the pandemic at https://apnews.com/hub/coronavirus-pandemic
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/15/british-regulator-1st-ok-modernas-updated-covid-19-booster/ | 2022-08-15T12:45:07Z |
Brother of former NFL player sought in fatal shooting at youth football game, police say
Published: Aug. 15, 2022 at 7:49 AM EDT|Updated: 55 minutes ago
LANCASTER, Texas (CNN) - An altercation between coaches at a youth football game in Texas led to a fatal shooting Saturday night.
The Lancaster Police Department has issued a warrant for the arrest of Yaqub Salik Talib.
He’s the brother of Super Bowl champion Aqib Talib, who played for five teams over the course of 11 years in the NFL.
The shooting took place in Lancaster Community Park about 17 miles south of Dallas.
Authorities have not released the name of the victim.
Copyright 2022 CNN Newsource. All rights reserved. | https://www.whsv.com/2022/08/15/brother-former-nfl-player-sought-fatal-shooting-youth-football-game-police-say/ | 2022-08-15T12:45:14Z |
Police help groom who nearly missed his wedding
BOSTON (WVCB) - A Boston groom was stranded on his wedding day with his groomsmen while the bride was left waiting, but the Boston Police Harbor Patrol saved the day.
Patrick and Hannah Mahony’s big day almost never happened after mechanical issues put the harbor between the bride and groom.
“I was in a little bit of a panic,” Patrick Mahony said.
The couple’s wedding was to take place on Thompson Island, and the boat the groom was supposed to take broke down. He was left stranded at the dock.
“It was our florist, our DJ, all of the groomsmen, the groom. So I think it would have just been a bunch of girls sitting on the island waiting around if that happens,” Hannah Mahony said.
This is when authorities stepped in to help.
The replacement ferry ended up leaving about 40 minutes late from the harbor, but the officers were able to make up time on the water.
Officers Joseph Matthews and Stefani McGrath were able to get everyone to the island safely, and Matthews said he hopes the police escort will be a fun memory to look back on.
“We had six minutes to spare,” Matthews said. “It will give them something to remember. Getting a ride on a police boat is kind of special for their big night.”
Despite the rocky start to the day, Patrick Mahony said nothing would have stopped him from tying the knot with his bride.
Copyright 2022 WVCB via CNN Newsource. All rights reserved. | https://www.whsv.com/2022/08/15/police-help-groom-who-nearly-missed-his-wedding/ | 2022-08-15T12:45:20Z |
TUCSON, Ariz., Aug. 15, 2022 /PRNewswire/ -- Accelerate Diagnostics, Inc. (Nasdaq: AXDX) today announced financial results for the second quarter for the period ended June 30, 2022.
"In addition to a solid quarter, I am pleased to announce that we will be joining forces with Becton Dickinson to commercialize our products globally," commented Jack Phillips, Chief Executive Officer of Accelerate Diagnostics, Inc. "Our global commercial partnership with BD comes at a time when the hospital selling environment is improving, we are firing on all cylinders in R&D and are taking meaningful steps to improve our balance sheet. These are exciting times for our company."
Second Quarter 2022 Highlights
- Added 8 contracted instruments and brought 3 instruments live in the U.S. in the quarter.
- Ended the second quarter with 316 U.S. clinically live and revenue-generating instruments, with another 78 U.S. contracted instruments in the process of being implemented and not yet revenue-generating.
- Net sales were $3.9 million, compared to $2.8 million in the second quarter of the prior year, or a 39% increase. Growth was driven by increases in both capital and recurring revenues.
- Gross margin was 28% for the quarter, compared to 38% in the second quarter of the prior year. The decline in gross margins resulted from inflation to manufacturing costs and other factors.
- Selling, general, and administrative (SG&A) costs for the quarter were $11.5 million, compared to $12.9 million from the same quarter of the prior year. SG&A costs for the quarter excluding non-cash stock-based compensation were $8.3 million, compared to $7.7 million from the same quarter of the prior year. This decrease was driven by continued benefit from cost cutting efforts.
- Research and development (R&D) costs for the quarter were $7.6 million, compared to $5.7 million from the same quarter of the prior year. R&D costs excluding non-cash stock-based compensation expense for the quarter were $7.0 million, compared to $4.4 million from the quarter of the prior year. This increase was the result of investment in our next generation AST platform.
- Net loss was $17.8 million in the second quarter, resulting in $0.23 net loss per share. Net loss excluding non-cash stock-based compensation expense for the second quarter was $13.8 million.
- Net cash used in the quarter excluding financing was $13.6 million.
- Signed an agreement in August 2022 to exchange $50 million of convertible debt due March 2023 for a term loan due in five years with no cash interest due during the term. After this transaction, approximately $56 million of the original $172 million convertible debt remains due.
Year-to-date 2022 Highlights
- Net sales were $6.8 million year-to-date, compared to $5.3 million from the same period of the prior year, or a 28% increase. Growth was driven by increases in both capital and recurring revenues.
- Gross margin was 28% year-to-date, compared to 37% from the same period of the prior year. The decline in gross margins resulted from ongoing pandemic-related impacts to manufacturing costs and other factors.
- Selling, general, and administrative (SG&A) costs year-to-date were $22.2 million, compared to $26.9 million from the same period of the prior year. SG&A costs excluding non-cash stock-based compensation were $16.5 million year to date, compared to $15.8 million from the same period of the prior year. This small increase was the result of higher professional services fees paid in the first quarter, partially offset by a decrease in the second quarter driven by cost savings efforts.
- Research and development (R&D) costs were $13.6 million year to date, compared to $12.6 million from the same period of the prior year. R&D costs excluding non-cash stock-based compensation expense were $12.7 million year to date, compared to $8.6 million from the same period of the prior year. This increase was the result of investment in our next generation AST platform.
- Net loss was $32.0 million year to date, resulting in $0.44 net loss per share. Net loss excluding non-cash stock-based compensation expense was $25.0 million.
- Net cash used excluding financing was $26.8 million
- Ended the quarter with total cash, investments, and cash equivalents of $36.8 million.
Full financial results for the quarter ending June 30, 2022 will be filed on Form 10-Q through the Securities and Exchange Commission's (SEC) website at http://www.sec.gov.
Audio Webcast and Conference Call
To listen to the 2022 second quarter financial results, call by phone, +1.877.883.0383 and enter Elite Entry Number: 8181593. International participants may dial +1.412.902.6506. Please dial in 10–15 minutes prior to the start of the conference. A replay of the call will be available by telephone at +1.877.344.7529 (U.S.) or +1.412.317.0088 (International) using the replay code 5773022 until September 6, 2022.
This conference call will also be webcast and can be accessed from the company's website at ir.axdx.com. A replay of the audio webcast will be available until November 15, 2022.
Use of Non-GAAP Financial Measures
This press release contains certain financial measures that are not recognized measures under accounting principles generally accepted in the United States of America ("GAAP"), which include SG&A, R&D, and Net income (loss) amounts excluding stock-based compensation expenses.
Our management and board of directors use expenses excluding the cost of stock-based compensation to understand and evaluate our operating performance and trends, to prepare and approve our annual budget and to develop short-term and long-term operating and financing plans. Accordingly, we believe that expenses excluding the cost of stock-based compensation provides useful information for investors in understanding and evaluating our operating results in the same manner as our management and our board of directors. Expenses excluding the cost of stock-based compensation is a non-GAAP financial measure and should be considered in addition to, not as superior to, or as a substitute for, SG&A expenses, R&D expenses, and net income (loss) reported in accordance with GAAP. The following tables present a reconciliation of SG&A expenses, R&D expenses and net income (loss) excluding stock-based compensation to comparable GAAP measures for the periods indicated:
About Accelerate Diagnostics, Inc.
Accelerate Diagnostics, Inc. is an in vitro diagnostics company dedicated to providing solutions for the global challenges of antibiotic resistance and sepsis. The Accelerate Pheno® system and Accelerate PhenoTest® BC kit combine several technologies aimed at reducing the time clinicians must wait to determine the most optimal antibiotic therapy for deadly infections. The FDA cleared system and kit fully automate the sample preparation steps to report phenotypic antibiotic susceptibility results in approximately 7 hours direct from positive blood cultures. Recent external studies indicate the solution offers results 1–2 days faster than existing methods, enabling clinicians to optimize antibiotic selection and dosage specific to the individual patient days earlier.
The "ACCELERATE DIAGNOSTICS" and "ACCELERATE PHENO" and "ACCELERATE PHENOTEST" and diamond shaped logos and marks are trademarks or registered trademarks of Accelerate Diagnostics, Inc.
For more information about the company, its products and technology, or recent publications, visit axdx.com.
Forward-Looking Statements
Certain of the statements made in this press release are forward looking or may have forward looking implications, such as, among others, Mr. Phillip's statements regarding the hospital selling environment improving and the productivity of our research and development activities. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Information about the risks and uncertainties faced by Accelerate Diagnostics is contained in the section captioned "Risk Factors" in the company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 14, 2022, and in any other reports that the company files with the Securities and Exchange Commission. The company's forward-looking statements could be affected by general industry and market conditions. Except as required by federal securities laws, the company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties or other contingencies.
See accompanying notes to condensed consolidated financial statements.
See accompanying notes to condensed consolidated financial statements.
See accompanying notes to condensed consolidated financial statements.
See accompanying notes to condensed consolidated financial statements.
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SOURCE Accelerate Diagnostics, Inc. | https://www.whsv.com/prnewswire/2022/08/15/accelerate-diagnostics-reports-second-quarter-2022-financial-results/ | 2022-08-15T12:45:27Z |
STATEN ISLAND, N.Y., Aug. 15, 2022 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("Acurx" or the "Company"), a clinical stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, announced today certain financial and operational results for the quarter ended June 30, 2022.
Highlights of, and certain events subsequent to, the second quarter of 2022 include:
- Enrollment continues in the Company's ongoing Phase 2b clinical trial of patients with C. difficile Infection (CDI);
- Due to slower than expected enrollment, the Company has added several clinical trial sites and anticipates up to 30 clinical trial sites will participate in the Phase 2b clinical trial;
- The Company has continued its R&D collaboration with Leiden University Medical Center (Holland) to further evaluate the mechanism-of-action of Acurx's inhibitors against the DNA pol IIIC enzyme, which is the bacterial target of our antibiotic product pipeline for the systemic treatment (IV and oral) of other gram-positive bacterial infections.
- The Company has now completed certain portions of its laboratory study at the University of Houston comparing the killing effect of ibezapolstat to vancomycin, fidaxomicin and metronidazole using both in vitro and ex vivo analyses. Certain results were presented at Anaerobe 2022, the Anaerobe Society of America annual scientific conference and results demonstrated that ibezapolstat has favorable killing kinetics compared to vancomycin to treat C. difficile infection at standard and high bacterial concentrations, supporting continued development of a potential first-in-class antibiotic to treat C. difficile Infection.
- The Antimicrobial Resistance Conference (September 7-8, 2022);
- ID Week (October 19-23, 2022); and
- C. Diff Foundation Conference (November 3-4, 2022).
Second Quarter 2022 Financial Results
The Company ended the second quarter on June 30, 2022, with cash totaling $9.1 million compared to $13.1 million as of December 31, 2021.
Research and development expenses for the three months ended June 30, 2022 were $0.9 million compared to $0.1 million for the three months ended June 30, 2021. The increase is due to Phase 2b trial related costs and an increase in consulting costs primarily related thereto. For the six months ended June 30, 2022, research and development expenses were $1.7 million versus $0.2 million for the six months ended June 30, 2021. The increase is due primarily to Phase 2b trial related costs and an increase in consulting costs related thereto.
General and administrative expenses for the three months ended June 30, 2022 were $1.7 million compared to $3.9 million for the three months ended June 30, 2021. The decrease was primarily due to a decrease in professional fees and share-based compensation related to the Company's initial public offering consummated in June 2021. For the six months ended June 30, 2022, general and administrative expenses were $3.6 million versus $5.4 million for the six months ended June 30, 2021. The decrease is primarily attributable to a decrease in professional fees and stock-based compensation primarily related to the Company's initial public offering, partially offset by an increase in legal and insurance costs.
The Company reported a net loss of $2.6 million or $0.26 per diluted share for the three months ended June 30, 2022 compared to a net loss of $4.0 million or $0.57 per diluted share for the three months ended June 30, 2021, and a net loss of $5.3 million or $0.52 per share for the six months ended June 30, 2022, compared to a net loss of $5.5 million or $0.79 per diluted share for the six months ended June 30, 2021 for the reasons previously mentioned.
The Company had 10,263,202 shares outstanding as of June 30, 2022.
Conference Call
As previously announced, David P. Luci, President and Chief Executive Officer, and Robert G. Shawah, Chief Financial Officer, will host a conference call to discuss the results and provide a business update as follows:
About Ibezapolstat
Ibezapolstat is a novel, orally administered antibiotic being developed as a Gram-Positive Selective Spectrum (GPSS™) antibacterial. It is the first of a new class of DNA polymerase IIIC inhibitors under development by Acurx to treat bacterial infections. Ibezapolstat's unique spectrum of activity, which includes C. difficile but spares other Firmicutes and the important Actinobacteria phyla, appears to contribute to the maintenance of a healthy gut microbiome.
The Company successfully completed Phase 1 and Phase 2a clinical trials of ibezapolstat. The Phase 2a trial demonstrated 100% clinical cure and 100% sustained clinical cure in patients with C. difficile Infection (CDI), along with beneficial microbiome changes during treatment including overgrowth of Actinobacteria and Firmicutes phylum species while on therapy and new findings which demonstrate potentially beneficial effects on bile acid metabolism. Acurx is currently enrolling patients in its Phase 2b 64-patient, randomized (1-to-1), non-inferiority, double-blind trial of oral ibezapolstat compared to oral vancomycin, a standard of care to treat CDI.
In June 2018, ibezapolstat was designated by the U.S. Food and Drug Administration (FDA) as a Qualified Infectious Disease Product (QIDP) for the treatment of patients with CDI and will be eligible to benefit from the incentives for the development of new antibiotics established under the Generating New Antibiotic Incentives Now (GAIN) Act. In January 2019, FDA granted "Fast Track" designation to ibezapolstat for the treatment of patients with CDI. The CDC has designated C. difficile as an urgent threat highlighting the need for new antibiotics to treat CDI.
About Acurx Pharmaceuticals, Inc.
Acurx Pharmaceuticals is a clinical stage biopharmaceutical company focused on developing new antibiotics for difficult to treat infections. The Company's approach is to develop antibiotic candidates that target the DNA polymerase IIIC enzyme and its R&D pipeline includes antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile, methicillin-resistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP).
To learn more about Acurx Pharmaceuticals and its product pipeline, please visit www.acurxpharma.com.
Forward-Looking Statements
Any statements in this press release about our future expectations, plans and prospects, including statements regarding our strategy, future operations, prospects, plans and objectives, and other statements containing the words "believes," "anticipates," "plans," "expects," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether ibezapolstat will benefit from the QIDP designation; whether ibezapolstat will advance through the clinical trial process on a timely basis; whether the results of the clinical trials of ibezapolstat will warrant the submission of applications for marketing approval, and if so, whether ibezapolstat will receive approval from the FDA or equivalent foreign regulatory agencies where approval is sought; whether, if ibezapolstat obtains approval, it will be successfully distributed and marketed; and other risks and uncertainties described in the Company's annual report filed with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2021, and in the Company's subsequent filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release, and Acurx disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law.
Investor Contact:
Acurx Pharmaceuticals, Inc.
David P. Luci, President & CEO
Tel: 917-533-1469
Email: davidluci@acurxpharma.com
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SOURCE Acurx Pharmaceuticals, Inc. | https://www.whsv.com/prnewswire/2022/08/15/acurx-pharmaceuticals-inc-reports-second-quarter-2022-results-provides-business-update/ | 2022-08-15T12:45:33Z |
HOUSTON, Aug. 15, 2022 /PRNewswire/ -- Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) ("Adams" or the "Company") today announces that one of its subsidiaries, GulfMark Asset Holdings, Inc., has completed the purchase of Firebird Bulk Carriers, Inc. ("Firebird") and Phoenix Oil, Inc. ("Phoenix") for an aggregate purchase price of approximately $33 million, consisting of approximately $32 million in cash and $0.5 million of Adams Resources & Energy, Inc. common stock.
Firebird Bulk Carriers is an interstate bulk motor carrier of crude oil, condensate, fuels, oils and other petroleum products. Headquartered in Humble, TX, Firebird operates over 100 tractors largely in the Eagle Ford basin. Texas locations include: Humble, George West, Dilley, Carrizo Springs, Bryan and Brownsville. Also headquartered in Humble, TX, Phoenix Oil recycles and repurposes off-spec fuels, lubricants, crude oil and other chemicals from producers in the United States.
Greg Mills, President of GulfMark commented, "Joining forces with Firebird and Phoenix is a great opportunity for GulfMark to expand our value chain and market impact, with numerous operating synergies benefiting the combined companies immediately upon close. The leadership and employees of Firebird and Phoenix bring a wealth of knowledge, and a history of excellent customer service, which align perfectly with the values of GulfMark and Adams companies."
"We are very excited to have the teams from both Firebird and Phoenix join the Adams family of companies," said Kevin Roycraft, Adams' Chief Executive Officer and President. "This acquisition will be immediately accretive to earnings and cash flow. We expect these companies to increase our annual adjusted cash flow by over 30% while diversifying GulfMark's service offerings to our customers. We believe this transaction represents a key milestone toward our continued efforts to generate long-term cash flow, prudently grow this business, and provide value to shareholders."
Scott Bosard, President, Firebird Bulk Carriers, Inc. and Phoenix Oil, Inc. commented, "I want to thank our team and their families for all the years of service. Their dynamic abilities and positive attitudes will bring immediate results to Adams and GulfMark. We look forward to the opportunities that will come along with these expanded capabilities."
The Company also reported, as required by Section 711(a) of the NYSE American Company Guide (the "Company Guide"), equity inducement awards to each of Trey Bosard and Tyler Bosard following the acquisition of Phoenix and Firebird by the Company.
Each of Trey Bosard and Tyler Bosard accepted employment agreements with Phoenix, effective August 12, 2022. Trey Bosard will serve as President and Tyler Bosard will serve as Vice President – Southern Region. The inducement awards have a grant date of August 12, 2022 and were granted to Trey Bosard and Tyler Bosard pursuant to their respective employment agreements.
As an inducement material to each of their accepting employment with Phoenix following the acquisition, and in accordance with Rule 711(a) of the Company Guide, the independent directors of the Board of the Company approved a grant of $0.5 million of restricted stock units to each of Trey Bosard and Tyler Bosard. The inducement awards are being granted outside the terms of the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan, as amended.
The inducement awards vest in three separate tranches on each of the first three anniversaries of the grant date.
Adams Resources & Energy, Inc. is engaged in crude oil marketing, transportation, terminalling and storage and tank truck transportation of liquid chemicals and dry bulk through its subsidiaries, GulfMark Energy, Inc., Service Transport Company, Victoria Express Pipeline, L.L.C. and GulfMark Terminals, LLC. For more information, visit www.adamsresources.com.
This news release contains forward-looking statements. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Forward-looking statements in this news release include, among others, statements relating to projected or anticipated financial benefits of the acquisitions described in this news release, and the anticipated effects of the acquisitions on the Company's earnings and cash flow. In many cases you can identify forward-looking statements by terminology such as "anticipate," "intend," "plan," "project," "estimate," "continue," "potential," "should," "could," "may," "will," "objective," "guidance," "outlook," "effort," "expect," "believe," "predict," "budget," "projection," "goal," "forecast," "target" or similar words. Statements may be forward looking even in the absence of these particular words. Where, in any forward-looking statement, the Company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, and any other risk factors included in Adams' reports filed with the Securities and Exchange Commission, including the Company's ability successfully to integrate the acquired companies and to realize the benefits and synergies of the transactions. However, there can be no assurance that such expectation or belief will result or be achieved. Unless legally required, Adams undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact
Tracy E. Ohmart
EVP, Chief Financial Officer
(713) 881-3609
Investor Relations Contact
Gary Guyton or Steven Hooser
Three Part Advisors
(214) 442-0016
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SOURCE Adams Resources & Energy, Inc. | https://www.whsv.com/prnewswire/2022/08/15/adams-resources-amp-energy-inc-completes-acquisition-phoenix-oil-firebird-bulk-carriers/ | 2022-08-15T12:45:39Z |
SAN JOSE, Calif., Aug. 15, 2022 /PRNewswire/ -- Anixa Biosciences, Inc. (NASDAQ: ANIX) ("Anixa") a biotechnology company focused on the treatment and prevention of cancer and infectious diseases, today announced that, in conjunction with its partner Moffitt Cancer Center, it has commenced treatment of the first patient in the clinical trial of its novel chimeric antigen receptor T-cell (CAR-T) therapy for ovarian cancer.
The study is a dose-escalation Phase 1 trial to determine safety and the maximum tolerated dose of follicle stimulating hormone receptor T-cells and to preliminarily assess efficacy. The study is being conducted at Moffitt Cancer Center and will consist of up to 48 patients.
The CAR-T approach used for Anixa's therapy is known as chimeric endocrine receptor T-cell (CER-T) since the target of the engineered T-cells is an endocrine receptor. While CAR-T therapy has shown efficacy in some hematological tumors, reproducing the same results with solid tumors, such as ovarian cancer, has proven challenging. One of the reasons for this difficulty is that effective CAR-T therapy needs a specific antigen to recognize that is only present on target cancer cells in order to avoid negatively affecting healthy cells. The CER-T therapy being evaluated in Anixa's Phase 1 study differs from traditional CAR-T in that it targets the follicle stimulating hormone receptor (FSHR), which research indicates is exclusively expressed on ovarian cells in healthy adult females.
"We are pleased that the first patient has been treated in our ovarian cancer CAR-T clinical study," stated Amit Kumar, Ph.D., Chairman and CEO of Anixa Biosciences. "This is truly an exciting time for Anixa, as we have now begun treating patients in our second clinical trial. With our CAR-T study, we hope to determine whether our unique targeting approach will work in solid tumors—a difficult challenge for traditional CAR-T therapies."
Robert Wenham, M.D., MS, FACOG, FACS, the trial's lead investigator and Chair of the Department of Gynecologic Oncology at Moffitt Cancer Center, added, "With limited treatment options for recurrent, chemo-resistant ovarian cancer, I am hopeful that this program can provide a unique opportunity to make a meaningful impact on patients of this devastating disease."
Jose R. Conejo-Garcia, M.D., Ph.D., Chair of the Department of Immunology at Moffitt Cancer Center and co-inventor of the CER-T technology, added, "It is exciting to see our novel FSHR-mediated CAR-T technology reaching patients, and if our unique CAR-T approach is successful, it could serve as a model for future targeted CAR-T therapies in other cancer types."
Dr. Conejo-Garcia and his research team developed the FSHR-mediated CAR-T technology when he was at the Wistar Institute where he contributed to report for the first time on the role of T-cell responses in the outcome of ovarian cancer patients. The clinical trial being conducted today is based on this pre-clinical work, originally published in Clinical Cancer Research. Anixa has an exclusive, world-wide license to this technology.
Anixa's chimeric antigen receptor T-cell (CAR-T) technology approach is an autologous cell therapy comprised of engineered T-cells that target the follicle stimulating hormone receptor (FSHR). FSHR is found at immunologically relevant levels exclusively on the granulosa cells of the ovaries. Since the target is a hormone (chimeric endocrine) receptor, and the target-binding domain is derived from its natural ligand, this technology is known as CER-T (chimeric endocrine receptor T-cell) therapy, a new type of CAR-T.
Anixa is a clinical-stage biotechnology company with a number of programs addressing cancer and infectious disease. Anixa's portfolio of therapeutics includes a cancer immunotherapy program being developed in collaboration with Moffitt Cancer Center, which uses a novel type of CAR-T, known as chimeric endocrine receptor T-cell (CER-T) technology, and, with partner MolGenie GmbH, a COVID-19 program focused on compounds targeting the Mpro enzyme of SARS-CoV-2, which is largely conserved across all recently identified variants. The company's vaccine portfolio includes a novel vaccine being developed in collaboration with Cleveland Clinic to prevent breast cancer – specifically triple negative breast cancer (TNBC), the most lethal form of the disease – as well as a vaccine to prevent ovarian cancer. These vaccine technologies focus on immunizing against "retired" proteins that have been found to be expressed in certain forms of cancer. Anixa's unique business model of partnering with world-renowned research institutions on clinical development allows the company to continually examine emerging technologies in complementary fields for further development and commercialization. To learn more, visit www.anixa.com or follow Anixa on Twitter, LinkedIn and Facebook.
Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect Anixa's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our most recent Annual Report on Form 10-K as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.
Company Contact:
Mike Catelani
President
mcatelani@anixa.com
408-708-9808
Investors:
Eric Ribner
LifeSci Advisors, LLC
eric@lifesciadvisors.com
646-751-4363
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Fund VI Closes with $4.3 Billion and Surpasses $3.0 Billion Target
Inaugural Growth Fund Closes at its Hard Cap with $1.1 Billion and Surpasses $750 Million Target
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Arsenal Capital Partners ("Arsenal"), a leading private equity firm that specializes in investments in industrial growth and healthcare companies, announced today that it has completed fundraising for two new funds, totaling $5.4 billion in capital commitments.
Arsenal Capital Partners VI LP (together with its parallel funds, "Fund VI") closed with $4.3 billion in capital commitments, well exceeding its $3.0 billion target of limited partner commitments and well above the size of its $2.4 billion predecessor fund. In addition, Arsenal Capital Partners Growth LP (together with its parallel funds, the "Growth Fund") closed with $1.1 billion in capital commitments at its hard cap and exceeded its $750 million target of limited partner commitments.
"We are extremely grateful for the support from and relationships with our long-time investors," said Terry Mullen, Managing Partner of Arsenal. "We achieved a gratifying, high re-up rate from our existing institutional investors, who on average increased their commitments by 59% from the previous fund, and we are delighted to have attracted an exceptional group of new investors that will further bolster our market-leading institution."
Over its 22-year history, Arsenal has built a leading private equity institution with two market-leading franchises in the industrials and healthcare sectors. Within its two focus sectors, Arsenal aims to create highly valuable, technology- and innovation-rich, growth companies that are strategically important to their markets. Arsenal's team of more than 85 professionals and 55 senior advisors combines specialized investment, industry, and operating expertise into one integrated and balanced team to provide differentiated strategic insights, combine diverse perspectives, and leverage expert capabilities.
"The success of these fundraises reflects the strength of our market-leading franchises and our track record of building strategically valuable businesses. We and our investors see exciting opportunities to invest in technology- and innovation-rich companies in the industrial and healthcare sectors," commented Jeff Kovach, Managing Partner of Arsenal. "Moreover, investors have acknowledged the depth of our domain and technical expertise that provides Arsenal the access, relevance, and credibility to compete and win in our target markets."
Fund VI will focus on investments in industrials and healthcare businesses with proven technologies and solutions positioned to deliver high performance and value-add to their customers. The Growth Fund will execute a similar strategy in the same markets but pursue investments in next generation, emerging technology businesses poised to apply innovation to generate very high growth. In both of these funds, Arsenal will apply its high-impact company building capabilities to help businesses achieve significant organic growth and facilitate strategic acquisitions to extend their offerings and to solidify leadership positions in their respective markets.
Patricia Grad, Partner and Head of Investor Relations of Arsenal, added, "We are grateful for this global group of institutions and individuals who have supported our firm and greatly appreciate the collaborative dialogue that we had with them as we crafted these investment opportunities, particularly our debut Growth Fund. We look forward to deepening and strengthening our partnerships with our investors for years to come."
Fund VI and the Growth Fund's investor base is comprised of leading public and corporate pension plans, family offices, endowments and foundations, and financial institutions, including The University of California's Office of the Chief Investment Officer (UC Investments), California State Teachers' Retirement System, California Public Employees' Retirement Systems, affiliates of APG Asset Management, The Oregon Public Employees Retirement Fund, affiliates of IIP A/S, and Minnesota State Investment Board.
Kirkland & Ellis LLP served as legal counsel for Arsenal, Fund VI, and the Growth Fund.
About Arsenal Capital Partners
Arsenal Capital Partners is a leading private equity firm that specializes in investments in industrial growth and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds totaling over $10 billion, completed more than 250 platform and add-on acquisitions, and achieved more than 30 realizations. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. For additional information, please visit www.arsenalcapital.com.
Contact:
Jackie Schofield at Prosek Partners
Pro-Arsenal@prosek.com
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SOURCE Arsenal Capital Partners | https://www.whsv.com/prnewswire/2022/08/15/arsenal-capital-partners-announces-final-closes-two-new-funds-totaling-54-billion/ | 2022-08-15T12:45:52Z |
Patent filed for new lithium mineral location technology
TEL AVIV, Israel, Aug. 15, 2022 /PRNewswire/ -- Today, ASTERRA announced a patent filing on advancements in using PolSAR-based technology for lithium exploration that will greatly accelerate the identification of lithium (LI) deposits. The patent was based on extensive field testing for validation.
"The expansion to mining is a natural progression of our ability to use AI analytics to monitor soil moisture underground," said Elly Perets, CEO of ASTERRA. "It also fulfills our mission to become humanity's eyes to protect the environment."
ASTERRA's complex artificial intelligence (AI) and machine learning (ML) algorithms extract the signal of lithium concentration underground from satellite based PolSAR data and can pinpoint locations containing high lithium. This technology creates a way to find lithium before investing in costly exploration with intensive labor, and where it may result in environmental destruction and civil conflicts.
In the United States, the Department of Energy published its National Blueprint for Lithium Batteries, which makes sourcing lithium inside the U.S. a priority through the year 2030 because this mineral is often unavailable to meet the needs of the manufacturing industry. Lithium is essential in the transportation, semiconductor, microchip, cell phone, and any industry where a battery is used. Last week, the CHIPS and Science Act of 2022 was enacted, further bolstering these initiatives.
"Lithium is the wonder metal at the heart of the global desire to move to cleaner energy with reduced carbon emissions, but the demand exceeds the supply. This causes an almost 500 percent increase in lithium prices and harms the effort to stop global warming," said Lauren Guy, the founder and chief technology officer of ASTERRA. "Global demand for lithium is insatiable, and the supply crisis is present and significant. ASTERRA can now focus the efforts of companies to mine the metal in a much more efficient and accurate way."
In a report by energystoragenews.com, Bloomberg ranked China the top supplier of lithium ion batteries. Since China is the dominant source for lithium, ongoing political conflicts cause supply chain disruptions which have a serious negative global impact. One industry impeded by this is the automotive industry.
On its website, Volkswagen notes, "Electric cars are significant contributors to climate protection – but the mining of lithium for the batteries is often criticized." Nevertheless, one challenge the manufacturer faces is their critical need for the mineral. "An important growth driver is its use in the batteries of electric vehicles. However, lithium is also used in the batteries of laptops and cell phones, as well as in the glass and ceramics industry," the site also states.
ASTERRA's satellite based PolSAR technology is already proven as a solution to find underwater leaks in the water utility industry (winning the AWWA Innovation Award in 2021), and also provides soil moisture data to mining operations. Because it provides intelligence regardless of weather conditions, time of day, and penetrates the ground and obstructions including pavement, trees, and soil, it is an efficient solution for underground monitoring.
ABOUT ASTERRA
ASTERRA (formerly Utilis) provides geospatial data-driven platform solutions for water utilities, government agencies, and the greater infrastructure industry in the areas of roads, rails, dams, and mines. ASTERRA products and services use Polarimetric Synthetic Aperture Radar (PolSAR) data from satellites and turn this data into large-scale decision support tools. The company's proprietary algorithms and highly educated scientists and engineers are the keys to their mission, to become humanity's eyes on the Earth. ASTERRA is investing in artificial intelligence (AI) to bring its products to the next level. Since 2017, ASTERRA technology has been used in over 64 countries, saving over 210,830 million gallons of potable water, reducing carbon dioxide emissions by 134,930 metric tons, and saving 527,070 MWH of energy, all in support of United Nations Sustainable Development Goals. ASTERRA is headquartered in Israel with offices in the United States, United Kingdom, and Japan. Their innovative data solutions are used in multiple verticals around the globe. For more information on ASTERRA and to learn more about their technology, visit https://asterra.io.
View the video on our website here.
Media Contact
Karen Dubey
Corporate Marketing Director
inquiry@asterra.io
(858) 798-6709
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SOURCE ASTERRA | https://www.whsv.com/prnewswire/2022/08/15/asterras-new-satellite-based-polsar-technology-uses-ai-eco-friendly-exploration-lithium/ | 2022-08-15T12:45:59Z |
IRVINE, Calif., Aug. 15, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company," "ATIF" or "We"), a holding company providing business and financial consulting services in Asia and North America, is pleased to announce that the Company's IPO advisory services client and investment holding company Armstrong Logistic Inc. ("Armlogi"), a leading freight forwarding and logistics company in U.S., has recently seen strong growth in performance. Under the terms of the investment agreement between Armlogi and the Company, ATIF holds a 12.0% equity stake in Armlogi.
Armlogi is leading international intelligent warehouse logistics service provider, including warehouse distribution, 3PL fulfillment, and multi-channel fulfillment services, self-employed logistics company, customs clearance company and freight car company serving the Port of Los Angeles, San Diego, LAX, and all major access routes to and from Southern California. Armlogi's certified logistics and warehousing is located in City of Industry, CA; Houston, TX; and Florence, NJ, with 1,500,000 sq ft of space that is full-service EDI (Electronic Data Interchange) Compliant. Armlogi's Multi-Channel Fulfillment (MCF) service integrates with Amazon, Ebay, FedEx, Jet, Groupon, Shopify, Walmart, Wayfair, Woo Commerce, and other leading platforms, supporting 96% online e-commerce platform fulfillment.
Warehousing and logistics companies have had to adapt and evolve to changing market trends and the growing need for accelerated deliveries. In the face of the impact of inflation on the freight forwarding and logistics industry this year, Armlogi has developed flexible operational strategies. Through an assessment of its own inventory levels, warehousing capacity, utilization rates and transportation capabilities, Armlogi adopted strategies such as cutting unnecessary costs and introducing new growth opportunities, and effectively delivered very strong performance.
A growing number of enterprises are showing higher reliance towards outsourcing various logistics functions including transportation, warehousing, and distribution, thus fueling growth in the 3PL market. According to data from Statista, in the past 10 years, the 3PL market revenue has doubled over the last 10 years, increasing from $127.5 billion to $260.2 billion from 2010 to 2021, growing at a CAGR of 2.8%. According to MDC Research, the global 3PL market is expected to reach $2,275.6 billion at a CAGR of 8.9% by 2030.
Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, "We appreciate the innovations and rapid shifts of Armlogi's operations and are very pleased with its strong financial performance. As far as we understand it, Armlogi's revenues for the first quarter of 2022 alone exceeded 50% of total revenues in 2021 and revenues for the full year 2022 are expected to jump three to four times year over year! We expect Armlogi to continue its strong impetus and to deliver high returns for us and our shareholders in its future IPO."
About ATIF Holdings Limited
ATIF Holdings Limited ("ATIF") is a Los Angeles-based comprehensive financial group with wholly owned and operated subsidiaries: ATIF-1 hedge funds company, ATIF equity investing company, ATIF IPO advisory company, and the integrated financial services network platform www.IPOEX.com. ATIF is dedicated to providing international asset securitization services, as well as equity investment and asset management services to companies around the world. ATIF was awarded the "Top 10 Best Listed Companies 2019" from the "Golden Bauhinia Award," the highest award in Hong Kong's financial and securities industry. For more information, please visit https://ir.atifchina.com/.
To learn more about IPOEX, our financial services platform, please visit: https://www.ipoex.com/
For more information about NFTDPO, our NFT service division, please visit https://nftdpo.com/.
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Forward-Looking Statements
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantee of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new clients, complete projects for clients, and further enhance brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial consulting services industry; a pandemic or epidemic; the occurrence of any event, change or other circumstances that could affect the Company's ability to continue successful development and launch of its NFT collection; the possibility that the Company may not succeed in developing its NFT platform and business due to, among other things, changes in the business environment, competition, changes in governmental regulation, or other economic and policy factors; the ability of the Company to continue compliance with the development of applicable regulatory regulations in connection with blockchain, digital assets and the NFT industry; the possibility that the Company's ongoing NFT services may be adversely affected by other economic, business, and/or competitive factors; and other factors listed in the Company's annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management's beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.
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SOURCE ATIF Holdings Limited | https://www.whsv.com/prnewswire/2022/08/15/atifs-investment-international-logistics-services-company-shows-strong-growth/ | 2022-08-15T12:46:05Z |
Active-duty service members are 76 percent more likely than the average adult to experience digital theft, per FTC data
BOSTON, Aug. 15, 2022 /PRNewswire/ -- Today, Aura, the leader in intelligent safety for consumers, and Blue Star Families, the nation's largest grassroots military family support organization, announced the next evolution of their partnership. The expanded collaboration aims to address the higher-than-average rates of identity theft, fraud and other types of digital attacks among active-duty service members, Veterans and their families.
Last year, military consumers reported a 20 percent increase (209,999 vs. 174,720 in 2020) in incidents of identity theft, fraud and other digital crime, costing them $267M (up 118 percent from $122M in 2020). The FTC has reported that active-duty service members are 76 percent more likely than the average adult to experience digital theft, which AARP research suggests could be tied to this community being targeted specifically for military-related services or benefits.
"This community has made tremendous sacrifices to protect our country, civil liberties and freedoms," said Aura Founder and CEO Hari Ravichandran. "It's only fitting to recognize that sacrifice by helping to protect the digital lives of our heroes in uniform and their families."
In their second year of the partnership, Aura will work with Blue Star Families to offer educational resources and intelligent safety tools to the organization's more than 1.5 million military family members, including a comprehensive digital safety guide for those managing a Permanent Change of Station (PCS), suggestions for navigating children's online safety and its connection to family security, as well as guidance tailored to the unique needs and circumstances of Veterans.
"The rate of cybercrime and financial loss experienced by military families is a massive disparity that requires addressing," said Blue Star Families Founder and CEO Kathy Roth-Douquet. "Aura has illustrated a deep understanding of the unique circumstances of military life that may lead to this disparity, as well as an ability to address those nuances in the resources being provided to our member base. We look forward to continuing our partnership this year and in the future, working together to help protect the people who keep our country safe each and every day."
These efforts build upon Aura's existing commitment to the military community, including the company's May 2022 launch of a discount and digital hub for active-duty service members, Veterans and their families, complimentary access to Aura's all-in-one digital security app, and volunteer opportunities for Aura's more than 750 employees.
For free access to military-specific digital safety guides, resources and discounted tools, please visit aura.com/military.
About Aura
Aura, the leader in intelligent safety solutions, provides all-in-one digital protection for consumers. We understand that the online safety needs of each individual are unique and require a personalized solution. By bringing together security, privacy and parental controls on an intelligent platform, Aura makes adaptive and proactive digital safety accessible to everyone. Visit www.aura.com.
About Blue Star Families
Blue Star Families is the nation's largest grass-roots military family support organization, with a mission to support military families to improve military readiness. Its distinctive approach builds stronger communities around military families through knowledge and programs that address the unique needs of those who serve. Blue Star Families' nationally recognized surveys and analysis give military families an important voice that informs policymakers and its military family programs. It uses the power of its collective resources and cross-sector collaborations to make a difference in the lives of hundreds of thousands of members of military families to strengthen the troops, their families, and our nation as a whole. For more information, visit bluestarfam.org.
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SOURCE Aura | https://www.whsv.com/prnewswire/2022/08/15/aura-blue-star-families-expand-efforts-reverse-disproportionate-rate-cybercrime-affecting-military-families/ | 2022-08-15T12:46:07Z |
TORONTO, Aug. 15, 2022 /PRNewswire/ - Auxly Cannabis Group Inc. (TSX: XLY) (OTCQX: CBWTF) ("Auxly" or the "Company") today released its financial results for the three and six months ended June 30, 2022. These filings and additional information regarding Auxly are available for review on SEDAR at www.sedar.com. All amounts are Canadian dollars except common shares ("Shares") and per Share amounts.
- Total net revenues from sale of adult use cannabis in Canada of $27.3 million for the three months ended June 30, 2022, a 31% increase from the same period last year;
- SG&A remained relatively flat quarter-over-quarter as the Company continues to focus its efforts on reducing costs;
- Adjusted EBITDA improved to negative $4.0 million, an improvement of 37% as compared to the previous quarter;
- Auxly Leamington continues to contribute to positive gross margins through low-cost cultivation and increased yields;
- Continued to hold the #1 LP position in Cannabis 2.0 sales nationally as the Company continues to launch new and exciting cannabis products to the Canadian market;
- Successfully launched 27 new SKUs to the Canadian market in the first half of 2022 including five first-to-market products such as Dosecann's CBN capsules and two new unique dried flower strains, Sticky Monkey and Tranquil Elephantizer under Kolab Project;
- Further strengthened the Company's balance sheet with the sale of both Nova Scotia cultivation assets for total proceeds of $10.1 million to date.
Hugo Alves, CEO of Auxly, commented: "We continued to make meaningful progress towards our strategic objectives during Q2. With an increasingly competitive market, we have been able to maintain our position as the #1 LP in cannabis 2.0 sales, driven by our leadership position in the vapour category where we ended the first half of the year as the #1 LP in the category with over 17% share of market. We successfully increased revenues and gross profits during the quarter while maintaining our SG&A spending largely flat. We have also strengthened our balance through the sale of non-core assets for total proceeds of $10.1 million to date, which will support our continued growth. We remained focused on our consumers and their evolving needs and preferences by launching 27 new SKUs during the first half of the year and will continue to prioritize investments in innovations in key growth categories. Finally, as we enter the second half of 2022, we will continue to focus on cost control and margin enhancement through continue process improvements and investments in automation to further support our key objective of Adjusted EBITDA profitability in 2022."
For the three and six months ended June 30, 2022, net revenues were $27.3 million and $50.0 million as compared to $20.9 million and $30.0 million during the same period in 2021, an improvement of 31% and 66% respectively. Revenue in the second quarter of 2022 was comprised of approximately 40% in sales of dried flower and pre-roll Cannabis Products, with the remainder from oils and Cannabis 2.0 Product sales. Net revenues improved from the Company's expansion of its Cannabis 1.0 Products and continued leadership in Cannabis 2.0 Products. Consistent with prior periods, as the Company does not participate in the Quebec market, approximately 85% of cannabis sales during the second quarter of 2022 originated from sales to British Columbia, Alberta and Ontario.
Auxly realized a gross profit of $9.8 million and $13.5 million for the three and six months ending June 30, 2022 resulting in a 36% and 27% Gross Profit Margin1 respectively, as compared to $8.0 million (38%) and $10.3 million (34%) during the same periods in 2021. Cost of Finished Cannabis Inventory Sold Margin1 was 25%, 12% lower than the same period of 2021, however 2% greater than the first quarter of 2022.
Following the acquisition of Auxly Leamington in November 2021, the Company recognizes gross profit or loss from Auxly Leamington as part of the costs of finished cannabis inventory sold only as product is sold to the Company's customers after being further processed by Auxly Ottawa or Auxly Charlottetown. Realized and unrealized fair value gains and losses reflect accounting treatments associated with Auxly Leamington cultivation and sales. The positive impact on gross profit is the result of a significant reduction in cultivation costs and increased product availability. Prior to the acquisition of Auxly Leamington, the net operating results of Auxly Leamington were recorded in other income and expenses on an equity basis in proportion to the Company's ownership in the joint venture.
Biological and inventory impairments during the current period of $1.8 million are primarily a result of the write-off of certain third-party products, with year-to-date charges of $7.4 million inclusive of the closures of the Auxly Annapolis and Auxly Annapolis OG facilities.
Selling, general and administrative expenses ("SG&A") are comprised of wages and benefits, office and administrative, professional fees, business development, and selling expenses. SG&A expenses were $12.9 million during the second quarter of 2022, in line with the previous quarter and $1.8 million greater than the second quarter of 2021 primarily due to the inclusion of Auxly Leamington in 2022. Year-to-date expenditures of $25.6 million in 2022 are $5.5 million greater than the same period in 2021 primarily due to the addition of Auxly Leamington and expenditures associated with increased revenues.
Wages and benefits were $5.1 million during the second quarter of 2022, approximately $0.4 million higher than the same period of 2021, primarily due to the addition of Auxly Leamington partially offset by reductions associated with the Auxly Annapolis and Auxly Annapolis OG closures. Year-to-date expenditures of $10.7 million were higher than those of $8.9 million during the same period of 2021. The increases relate to the inclusion of Auxly Leamington and workforce additions to support dried flower and pre-roll sales, partially offset by cost reductions from the closure of the Auxly Annapolis and Auxly Annapolis OG facilities.
Office and administrative expenses were $2.6 million during the current quarter, decreasing by $1.0 million compared to the same period in 2021. The decreased expenditures primarily relate to higher product cost absorption, reduced waste and the timing and cost associated with product innovation. For the first six months of 2022 expenditures were $6.2 million, approximately $0.5 million below the same period of 2021 reflecting reductions in the current quarter partially offset by the addition of Auxly Leamington.
Auxly's professional fees were $1.1 million during the second quarter of 2022 and $1.5 million year-to-date which were $0.4 million greater than the same periods in 2021. Professional fees incurred during the period primarily related to accounting fees, regulatory matters, reporting issuer fees, and legal fees associated with certain corporate activities.
Business development expenses were $0.1 million for the three months ended June 30, 2022 and $0.2 million after six months, as compared to $Nil during the same periods in 2021. These expenses were nominal during the COVID-19 pandemic and primarily relate to acquisition, business development and travel related expenses which have increased modestly as a result of loosening restrictions and the resumption of business travel.
Selling expenses were $4.1 million for the three months ended June 30, 2022 and $7.0 million year-to-date, increases of $2.1 million and $3.6 million over the same periods in 2021, as a result of cannabis sales activities comprised of brokerage fees earned by Kindred, Health Canada fees related to higher revenues, and increased marketing initiatives for Cannabis Products.
Equity-based compensation for the three and six months ended June 30, 2022 was $2.9 million and $3.1 million respectively. During the same periods of 2021 these amounts were $1.0 million and $1.2 million. The charges for the current quarter reflects the impact of prior option grants and restricted share units ("RSU") granted in June 2022, in respect of services provided by employees in 2021. The expense related to options is primarily a function of the number of grants, the weighted average aging of the grants and the share price at the time of grant. The RSU charge is primarily determined by the number of units granted, vesting periods and forfeiture assumptions, and the Share price at the time of grant.
Depreciation and amortization expenses were $3.9 million for the period ended June 30, 2022, and $8.5 million year-to-date increasing by $1.7 million and $3.9 million respectively over the same periods in 2021. The increase in expense during the current period is primarily related to additional capital expenditures and inclusion of Auxly Leamington in 2022.
Interest expenses were $5.3 million and $10.4 million for the three and six months ended June 30, 2022, an increase of $0.5 million and $1.0 million over the same periods in 2021 primarily as a result of the inclusion of Auxly Leamington. Interest expense includes accretion on the convertible debentures and interest paid in kind on the $123 million Imperial Brands Debenture. Interest payable in cash was approximately $1.6 million for the current quarter.
Total other incomes and losses for the quarter were a net gain of $0.9 million inclusive of gains related to the sale of Auxly Annapolis and the extension of the unsecured convertible debentures, partially offset by other losses, as compared to a gain of $3.1 million during the same period in 2021, which were primarily driven in 2021 by a gain on the Imperial Brands Debenture extension agreement partially offset by an impairment related to the sale of a non-core asset.
Total other incomes and losses for the six months ending June 30, 2022 of $23.1 million include the first quarter losses associated with the closure of the Auxly Annapolis and Auxly Annapolis OG facilities where the carrying value exceeds the fair value less cost to sell.
The share of losses on investment in joint venture during 2021 represented the Company's proportionate share of Auxly Leamington's earnings prior to its acquisition in November 2021, which results are presently consolidated into the Company's financial statements.
Auxly is exposed to foreign exchange fluctuations from the U.S. dollar to CAD dollar exchange rate primarily related to inventory, capital purchases and Inverell net assets. During the current period ended June 30, 2022, the Company reported a foreign exchange gain of $0.6 million as compared to a loss of $0.6 million during the same period of 2021.
Net losses attributable to shareholders of the Company were $14.3 million for the three months ended June 30, 2022, representing a net loss of $0.02 per share on a basic and diluted basis. The net loss of $54.1 million through six months of 2022 includes the net impact of approximately $25.7 million related to the closure of the Auxly Annapolis and Auxly Annapolis OG facilities during the first quarter of 2022.
Adjusted EBITDA during the three months ended June 30, 2022 was negative $4.0 million, a decrease from the same period of 2021, however, improved by approximately $2.0 million over the most recent quarters.
On May 27, 2021, the Company announced that it had reached an agreement to sell KGK to Myconic Capital Corp. (now Wellbeing Digital Sciences Inc.) ("Wellbeing"), and on June 2, 2021, completed the sale of KGK to Wellbeing. As a result of the sale, results from operations and cash flows from KGK have been presented as discontinued operations, as applicable, on a retrospective basis.
In 2022, Auxly remains committed to building on its success as a Canadian market leader. The Company plans to drive organic growth through continued innovation, increased brand traction, and ubiquitous distribution, while prioritizing operational efficiencies and profitability. The Company's high-level objectives for 2022 are:
- Improve revenue and Gross Profit Margin to achieve positive Adjusted EBITDA
- Win with consumers and increase brand traction
During the second quarter the Company made positive progress towards its strategic objectives. Despite operating in a challenging macroeconomic environment, the Company increased revenues and gross profits during the quarter. Coupled with largely flat SG&A spending, Auxly improved its Adjusted EBITDA by approximately 34% since the fourth quarter of 2021, bringing it closer to its objective of Adjusted EBITDA profitability in 2022.
The Canadian cannabis industry continues to evolve at an extraordinary pace. The challenges posed by increasing competition and fragmentation; oversupply of cannabis; high taxation and price compression have been exacerbated by inflation, global supply chain disruptions, and constrained capital markets. While the Company's share of market decreased across certain product categories during the quarter, it will continue to pursue growth in key categories by continuing to deliver high-quality, innovative products to our consumers.
Auxly remains focused on cost control and margin enhancement through continued process improvements and investments in automation. Auxly Leamington has quickly become one of the lowest cost cultivation facilities in Canada. The improvements made at Auxly Leamington positively impacted consolidated operating results through reduced cultivation costs and increased flower quality and availability. Further, the Company anticipates an increase in its dried flower and pre-roll capabilities, commencing in Q3, 2022 as its new automation equipment is commissioned and comes online, enabling it to continue to meet consumers growing demands for its expanding flower portfolio.
The Company has and will continue to put its consumers first by delivering safe, effective, high-quality products that address their evolving needs and preferences and help them live happier lives. The Company continues to be leaders in product innovation and during the quarter successfully launched 17 new SKUs, each delivering strong early performance. Auxly has now launched a total of 27 new SKUs in 2022 and will continue prioritizing investments in innovation in key growth categories. Finally, through its continued focus on insights-driven innovation, product quality and targeted marketing efforts, the Company's brands continue to gain the trust and loyalty of its consumers which allowed it to maintain leading market share positions in its key product categories.
Please see the Company's MD&A dated June 30, 2022, under "Non-GAAP Measures" for a further description of the following financial and supplementary financial measures.
These are non-GAAP measures used in the cannabis industry and by the Company to assess operating performance removing the impacts and volatility of non-cash and other adjustments. The definition may differ by issuer. The Adjusted EBITDA reconciliation is as follows:
Gross Profit Margin
"Gross Profit Margin" is defined as gross profit divided by net revenues. Gross Profit Margin is a supplementary financial measure.
Cost of Finished Cannabis Inventory Sold Margin
"Cost of Finished Cannabis Inventory Sold Margin" is a supplementary financial measure and is defined as Cost of Finished Cannabis Inventory Sold divided by net revenues.
"Debt" is defined as current and long-term debt and is a supplementary financial measure. It is a useful measure in managing our capital structure and financing requirements.
Auxly's management team will host a conference call today, Monday August 15, 2022, at 10:00 a.m. EST to discuss its financial results. Participants can access the conference call by telephone by dialing: 888-664-6383 or by audio webcast at: https://app.webinar.net/ZxQ6J3oJ7nd.
For those unable to participate in the conference call at the scheduled time, it will be available for replay on the Company's website within 24 hours after the conclusion of the call.
ON BEHALF OF THE BOARD
"Hugo Alves" CEO
Auxly is a leading Canadian consumer packaged goods company in the cannabis products market, headquartered in Toronto, Canada. The Company's focus is on developing, manufacturing and distributing branded cannabis products that delight wellness and recreational consumers and deliver on its consumer promise of quality, safety and efficacy.
Learn more at www.auxly.com and stay up to date at Twitter: @AuxlyGroup; Instagram: @auxlygroup; Facebook: @auxlygroup; LinkedIn: company/auxlygroup/.
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: the proposed operation of Auxly, its subsidiaries and partners; the intention to grow the business, operations and existing and potential activities of Auxly; the Company's response to the COVID-19 pandemic; the impact of the COVID-19 pandemic on the Company's current and future operations; the Company's execution of its innovative product development, commercialization strategy and expansion plans; the Company's intention to introduce innovative new cannabis products to the market and the timing thereof; the anticipated benefits of the Company's partnerships, joint ventures, research and development initiatives and other commercial arrangements; the anticipated benefits of the Company's acquisition of Auxly Leamington; the expectation and timing of future revenues and of positive Adjusted EBITDA; expectations regarding the Company's expansion of sales, operations and investment into foreign jurisdictions; future legislative and regulatory developments involving cannabis and cannabis products; the timing and outcomes of regulatory or intellectual property decisions; the relevance of Auxly's subsidiaries' current and proposed products with provincial purchasers and consumers; consumer preferences; political change; competition and other risks affecting the Company in particular and the cannabis industry generally.
A number of factors could cause actual results to differ materially from a conclusion, forecast or projection contained in the forward-looking information in this release including, but not limited to, whether: the Company will be able to execute on its business strategy; Auxly's subsidiaries and partners are able to obtain and maintain the necessary governmental and regulatory authorizations to conduct business; the Company is able to successfully manage the integration of its various business units with its own; there are not materially more closures or lockdowns related to the COVID‐19 pandemic; the Company's subsidiaries and partners obtain and maintain all necessary governmental and regulatory permits and approvals for the operation of their facilities and the development of cannabis products, and whether such permits and approvals can be obtained in a timely manner; the Company will be able to successfully integrate Auxly Leamington's operations with its own, and whether the expected benefits of the acquisition materialize in the manner expected, or at all; the Company will be able to successfully launch new product formats and enter into new markets; there is acceptance and demand for current and future Company products by consumers and provincial purchasers; the Company will be able to increase revenues and achieve positive Adjusted EBITDA; and general economic, financial market, legislative, regulatory, competitive and political conditions in which the Company and its subsidiaries and partners operate will remain the same. Additional risk factors are disclosed in the annual information form of the Company for the financial year ended December 31, 2021 dated March 30, 2022.
New factors emerge from time to time, and it is not possible for management to predict all of those factors or to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The forward-looking information in this release is based on information currently available and what management believes are reasonable assumptions. Forward-looking information speaks only to such assumptions as of the date of this release. In addition, this release may contain forward-looking information attributed to third party industry sources, the accuracy of which has not been verified by the Company. The forward-looking information is being provided for the purposes of assisting the reader in understanding the Company's financial performance, financial position and cash flows as at and for periods ended on certain dates and to present information about management's current expectations and plans relating to the future, and the reader is cautioned that such forward-looking information may not be appropriate for any other purpose. Readers should not place undue reliance on forward-looking information contained in this release.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
Neither Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Auxly Cannabis Group Inc. | https://www.whsv.com/prnewswire/2022/08/15/auxly-reports-q2-2022-financial-results/ | 2022-08-15T12:46:14Z |
MENLO PARK, Calif. , Aug. 15, 2022 /PRNewswire/ -- Avails Medical, a pioneer in rapid, automated and fully electrical antibiotic susceptibility testing (eAST™) announced today the commencement of U.S. pivotal clinical trials for its eQUANT system, which will be used to support a submission for FDA clearance.
Avails' eQUANT system provides a standardized inoculum (0.5 McFarland equivalent) directly from a positive blood culture in as fast as 40 minutes that can be used with traditional automated AST systems and with disk diffusion, accelerating AST turnaround times by as much as one day.
"eQUANT addresses the critical need for faster bloodstream infection diagnostics to enable physicians to optimize antibiotic therapy early, either by broadening it to overcome resistance to empiric agents used or to narrow it to minimize unnecessary use of broad-spectrum agents. Also facing a general staff shortage across microbiology laboratories, automating and accelerating the preparation of standardized organism suspensions for antimicrobial susceptibility testing of positive blood cultures using the eQUANT system will result in improved workflow and faster turn-around times", said Michael R. Jacobs, MD, PhD, Professor Emeritus, Department of Pathology, Case Western Reserve University and Director Emeritus, Clinical Microbiology, University Hospitals Cleveland Medical Center.
In a recent clinical pilot study Avails demonstrated highly accurate AST results when using the eQUANT McFarland output. With eQUANT, AST results were available at least 22 hours faster compared to conventional methods.
"Our modular, cost-efficient eQUANT system features a small footprint and straight-forward user interface, making it well suited for widespread adoption from clinical laboratories to community hospitals. The technology is designed to fit seamlessly into the existing workflow of laboratories of all sizes and enable timely and accurate AST results", said Dr. Oren Knopfmacher, CEO of Avails Medical.
Contact:
press@availsmedical.com
About Avails Medical Inc.
Avails Medical, Inc., a privately held company, was founded to help fight one of today's biggest global health threats - antibiotic resistance. The Avails all-electrical technology platform is designed to significantly reduce the amount of time required to obtain the reliable antibiotic susceptibility data, which is necessary to enable accurate therapy decisions. Avails' electronic biosensor technology is designed to improve speed and accuracy in pathogen quantification and susceptibility testing directly from human specimens by eliminating crude, time-consuming and manual specimen culturing steps. www.availsmedical.com
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SOURCE Avails Medical, Inc. | https://www.whsv.com/prnewswire/2022/08/15/avails-medical-announces-commencement-us-pivotal-clinical-trials-equant/ | 2022-08-15T12:46:20Z |
WALLINGFORD, Conn., Aug. 15, 2022 /PRNewswire/ -- Aware announced today that it has appointed Dennis Fitzpatrick as its new Chief Financial Officer and Sheila Coleman as the Company's first Diversity, Equity, Inclusion, and Belonging (DEIB) leader. Dennis and Sheila will work closely with Aware's CEO, Dr. Brian Holzer, as the Company continues to rapidly increase census and expand its innovative In-Home Addiction Treatment (IHAT) model to additional markets across the U.S.
Mr. Fitzpatrick comes to Aware with thirty years in healthcare financial management for multi-unit operations, having most recently served as CFO and Board member for PRO SMILE, a provider of dental services through sixty-seven points of care in three states. Previously, Dennis has held multiple other CEO, CFO, and board roles in private equity-backed healthcare services businesses, including dialysis and physical therapy companies of various sizes.
Ms. Coleman has been at Aware for six years, recently serving as the Connecticut Agency Director. Sheila was also one of the four founding members of the Company's Lantern Committee. Since 2020, the Lantern Committee has worked to create an informed and safe workplace for the Company's employees. The Lantern Committee has also worked to provide resources that promote a culturally sensitive approach to substance abuse treatment that we deliver to our clients and to the diverse communities we serve. In this newly created role, Sheila will lead a range of initiatives that inspire diversity and inclusion across our Company.
Dr. Holzer believes Dennis and Sheila are perfect fits to help lead Aware's bright future. "Both Dennis and Sheila are outstanding executives that will add additional expertise and represent our mission and dedication to our employees and clients. These appointments also support our organizational commitment to not only reach more clients but also cultivate a modern equitable workforce. I look forward to their contributions in the days and months ahead," said Holzer.
"I am excited to join the management team of Aware Recovery Care and partner with Brian in implementing the growth strategy for the business," said Fitzpatrick. "I also look forward to supporting our care teams who generate superior clinical outcomes, resulting in improved quality of life for our clients and their families."
"This is a very exciting time for Aware, and I am so pleased to be a part of creating this DEIB framework for our organization," said Coleman. "We are committed to enhancing our core values and demonstrating a culture of inclusivity and belonging for everyone. The true spirit of Aware will be visible in each and every interaction with our clients and one another."
Aware Recovery Care is a mission-driven company challenging traditional approaches to the treatment of Substance Use Disorder (SUD). A pioneer in In-Home Addiction Treatment (IHAT™), Aware delivers evidence-based, personalized service. Led by a multidisciplinary team of professionals and paraprofessionals, the unique 52-week program is designed for impact, reaching clients and their families in their own homes and communities. Aware's high-touch model improves the lives of people affected by addiction and creates irrefutable value for managed care plans and employers. Aware's outcomes clearly demonstrate that sustained recovery is achieved through deeper trust and genuine partnership.
In early 2021, Aware received an investment by Health Enterprise Partners (HEP), a growth equity firm whose investors include some of the largest health systems and health insurance plans in the United States. Aware now operates in nine states (CT, MA, RI, NH, ME, VA, OH, IN, FL) and is poised for hyper-growth and national expansion in partnership with established national and regional payors, employers, and other stakeholders.
Media Contact: Peter Gold at 860-874-7743 or peter_gold@goldorluk.com
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SOURCE Aware Recovery Care | https://www.whsv.com/prnewswire/2022/08/15/aware-recovery-care-announces-two-new-executive-hires/ | 2022-08-15T12:46:26Z |
- Option would add three dispensaries, increasing AWH's footprint in Ohio to five, the maximum permitted in the state -
NEW YORK, Aug. 15, 2022 /PRNewswire/ - Ascend Wellness Holdings, Inc ("AWH," "Ascend," or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator, announced that it has entered into a definitive agreement (the "Agreement") providing AWH the option to acquire 100% of the equity of Ohio Patient Access LLC ("OPA"), which owns and will operate three provisionally licensed dispensaries that are in the process of being built in Cincinnati, Piqua, and Sandusky. Exercising this option would increase AWH's footprint in Ohio to five, the maximum permitted in the state.
"This transaction represents an ideal opportunity to maximize our dispensary footprint in Ohio, a state that has near-term potential for adult-use cannabis sales," said Abner Kurtin, Chief Executive Officer, Chairman, and Founder of Ascend. "Going deep in the states in which we operate and being a top provider in each state is critical to sustainable growth and margin expansion. OPA's dispensaries will be situated in populous, limited-license markets that provide us with a contiguous footprint across the state. We look forward to closing this transaction once authorized under Ohio law and to potential adult-use legalization in the mid-term."
AWH's current Ohio footprint includes two dispensaries, one in each of Coshocton and Carroll, as well as a Tier 2 cultivation facility with 2,000 square feet of canopy. There are currently 58 dispensaries in Ohio, approximately one for every 4,800 registered patients.1 Ohio medical cannabis sales were $381 million in 2021, a 72 percent increase over 2020.1
The Agreement is subject to regulatory review and approval.
1. Ohio Board of Pharmacy Patient and Caregivers. Note: Ohio Pharmacy Board recently approved an additional 70 provisional dispensary licenses not included in this number.
AWH is a vertically integrated multistate cannabis operator with licenses and assets in Illinois, Michigan, Ohio, Massachusetts, New Jersey, and Pennsylvania. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products for retail and wholesale customers. AWH produces and distributes its in-house Simply Herb, Ozone, and Ozone Reserve branded products. For more information, visit www.awholdings.com.
Neither the Canadian Securities Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "will", "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company's current projections and expectations about future events and financial trends, and on certain assumptions and analysis made by the Company in light of experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate.
Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Such factors include, among others: the risks and uncertainties identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and in the Company's other reports and filings with the applicable Canadian securities regulators and the U.S. Securities and Exchange Commission. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly, readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
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SOURCE Ascend Wellness Holdings, Inc. | https://www.whsv.com/prnewswire/2022/08/15/awh-enters-definitive-agreement-providing-option-acquire-ohio-patient-access-llc/ | 2022-08-15T12:46:27Z |
ASHA Provides Information to Help Parents/Caregivers Understand School-Based Services
ROCKVILLE, Md., Aug. 15, 2022 /PRNewswire/ -- As children across the country return to classrooms, the American Speech-Language-Hearing Association (ASHA) is offering families information about speech and language services in the schools.
Annually, more than 1 million students ages 3 to 21 receive special education services for speech and language disorders through public schools. These students usually work with speech-language pathologists (SLPs)—professionals who help people of all ages with communication and swallowing disorders.
"Gaining an understanding of how the special education process works can seem overwhelming, but this information can help families learn how schools can best meet their child's unique needs—working together with parents and caregivers," said ASHA President Judy Rich, EdD, CCC-SLP, BCS-CL. "Speech-language pathology services can allow students to realize their full academic potential and be confident communicators who thrive socially."
Here are 10 facts for families to keep in mind if their child is beginning services this school year:
- Speech and language services are part of special education law. The Individuals With Disabilities Education Act (IDEA) is a federal special education law that guarantees students with disabilities a free appropriate public education. As such, students who receive speech and language services in school, and their guardians, are afforded certain legal rights and protections. Students must be found eligible for services (more on that below), which starts with an evaluation.
- Parents/guardians must consent to an evaluation. The school must obtain a family's permission before conducting a speech and language evaluation. Parents/guardians can request an evaluation themselves by contacting a school official, such as their child's teacher or the principal. Alternatively, school personnel may contact families when they believe a student should receive an evaluation. Family members provide key information, including medical and educational history as well as any specific concerns.
- SLPs conduct evaluations in the language(s) a student uses—not solely spoken English. For students who use multiple languages, the evaluation must be conducted in their languages through a bilingual SLP or an SLP working with an interpreter. Families also have a right to an interpreter during all meetings as well as written information in their preferred language, as needed.
- Speech and language services address a range of challenges. Treatment by SLPs in schools can help students who have difficulties with expressing themselves, listening, reading, and writing; social communication; memory, problem-solving, and thinking skills; and eating and drinking.
- A student's needs and goals are documented in an individualized education program (IEP). Once the school completes an evaluation and produces a written report, a team of school staff and the student's family meet to decide if the student is eligible for special education. To determine whether a student meets the requirements for needing an IEP to help them access the educational environment, the team answers three questions:
- Is there a disability?
- If so, is the child's disability causing an adverse effect on their educational performance?
- If so, are specially designed instruction and/or related services and supports needed to help the student progress in the general education curriculum?
Learn more about speech and language services in schools on ASHA's website.
Media Contact: Francine Pierson | 301-296-8715
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SOURCE American Speech-Language-Hearing Association (ASHA) | https://www.whsv.com/prnewswire/2022/08/15/back-school-key-facts-families-new-speech-language-services/ | 2022-08-15T12:46:34Z |
Introduces a revolutionary new proactive wellness solution that keeps users strong and protected against germs
VISTA, Calif., Aug. 15, 2022 /PRNewswire/ -- BioFilm Inc., the makers of ASTROGLIDE personal lubricants, today announced the launch of its newest wellness brand, BioShell. BioShell makes wellness simple by offering easy-to-use, proactive, protective solutions that empower consumers to confidently live life to the fullest.
The brand's debut product, BioShell Germ Defense for Your Mouth, is a simple, revolutionary, pocket-sized oral antiseptic. It guards against infection by coating the throat and mouth with a thin, invisible antibacterial film that traps most germs before they have a chance to make you sick. The take-anywhere bottle is the perfect companion for travel, days in the office, large gatherings or events, and more. To use, simply spray BioShell Germ Defense in your mouth 1-3 times before entering crowded situations, like planes, trains, concerts, meetings. It can be used up to three times a day for up to seven days.
"Today's consumers are looking for uncomplicated ways to be - and stay - healthy," said Lisa O'Carroll, BioFilm CEO. "So we took our 30+ years of experience making quality wellness products and dedicated ourselves to introducing easy-to-use, powerfully effective illness prevention products that are designed with modern lifestyles in mind - making wellness simple for consumers every single day."
Key benefits of BioShell Germ Defense for Your Mouth include:
- Fights and kills germs
- Prevents infections in minor oral irritations
- Contains active ingredient Cetylpyridinium Chloride (CPC), an antimicrobial agent known for its antibacterial and germicidal benefits
- Convenient on-the-go size
- Patented formula found over-the-counter
- Great for travel, work, public transportation and large gatherings
- Not made with parabens
- Alcohol-free
- Berry-flavored
BioShell Germ Defense for the Mouth (MSRP: $11.99) is suitable for ages 12+. It is available for purchase on Amazon and will be in the cough, cold and flu section of local drug stores and pharmacies later this year. For more information, visit BioShellWellness.com. Stay connected with BioShell on Instagram, Facebook and TikTok.
BioFilm Inc. has been making quality wellness products for over 30 years. With the creation of the BioShell brand, the company is dedicated to providing easy-to-use, powerfully effective illness prevention products that help people live their strongest, healthiest lives. Its proven team of scientists and researchers apply the highest standards, working in ISO-certified facilities, using the highest quality materials and ingredients, and ensuring that every product it makes is well tested. To learn more about BioShell, visit BioShellWellness.com.
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SOURCE BioFilm Inc. | https://www.whsv.com/prnewswire/2022/08/15/biofilm-inc-launches-new-wellness-brand-bioshell/ | 2022-08-15T12:46:40Z |
Company to add novel technology cleared for use in peripheral vasculature to interventional oncology and embolization portfolio
MARLBOROUGH, Mass., Aug. 15, 2022 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced the acquisition of Obsidio, Inc., a privately-held company that has developed the Gel Embolic Material (GEM™) technology used for embolization of blood vessels in the peripheral vasculature.
Embolization is a minimally invasive procedure intended to obstruct or reduce blood flow to an abnormality or tumor to stop hemorrhaging, reduce the size of malignant and benign tumors, and stabilize venous and arterial malformations.
Recently cleared by the U.S. Food and Drug Administration (FDA), the GEM technology is a semi-solid, proprietary material packaged in a ready-to-use form, thus reducing the preparation time required for many embolization procedures. Physicians deliver the GEM agent through a catheter, and its gel-like composition enables controlled placement within patient anatomy. Unlike solid and liquid embolics that can take time to form an obstruction to blood flow, once placed, the GEM technology conforms to the targeted vasculature, immediately creating a barrier.
"The GEM technology combines benefits of currently available embolics, such as precise control of a solid and malleability of a liquid, to create a unique technology that offers procedural efficiency and a more personalized therapy for patients," said Peter Pattison, president, interventional oncology and embolization, Peripheral Interventions, Boston Scientific. "This acquisition strengthens our interventional oncology and embolization portfolio with a differentiated solution for physicians and their patients suffering from hemorrhages, cancer and other debilitating conditions."
The transaction is expected to be immaterial to Boston Scientific's GAAP and adjusted earnings per share in 2022. Specific terms of the transaction have not been disclosed.
About Boston Scientific
Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 40 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.com and connect on Twitter and Facebook.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains 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. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "may", "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our business plans and product performance and impact. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
Factors that may cause such differences include, among other things: future U.S. and global economic, political, competitive, reimbursement and regulatory conditions; new product introductions; expected procedural volumes; the closing and integration of acquisitions; demographic trends; intellectual property rights; litigation; financial market conditions; the execution and effect of our business strategy, including our cost-savings and growth initiatives; and future business decisions made by us and our competitors. New risks and uncertainties may arise from time to time and are difficult to predict, including those that have emerged or have increased in significance or likelihood as a result of the COVID-19 pandemic. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document.
CONTACTS:
Media:
Karin Dalsin
+1.763.494.1914
Karin.Dalsin@bsci.com
Investor Relations:
Lauren Tengler
+1.508.683.4479
Lauren.Tengler@bsci.com
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SOURCE Boston Scientific Corporation | https://www.whsv.com/prnewswire/2022/08/15/boston-scientific-announces-acquisition-obsidio-inc/ | 2022-08-15T12:46:47Z |
BrainStorm to submit a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for NurOwn® for the treatment of ALS
New clinical analyses reinforce the conclusions from NurOwn's® Phase 3 clinical trial
Conference call and webcast at 8:00 a.m. Eastern Time today
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a leading developer of adult stem cell therapeutics for neurodegenerative diseases, today announced financial results for the second quarter ended June 30, 2022, and provided a corporate update. The company also announced its decision to submit a Biologics License Application (BLA) to the U.S. Food and Drug Administration for NurOwn® for the treatment of amyotrophic lateral sclerosis (ALS).
BrainStorm announces decision to submit a BLA to the FDA for NurOwn® for the treatment of ALS
"Brainstorm Cell Therapeutics is at a pivotal moment as a company as we finalize the regulatory filing for NurOwn® in the treatment of ALS. The continued analysis and the feedback received from the many scientific presentations of NurOwn's® Phase 3 data have uncovered key insights that furthered our understanding of the product mechanism of action and therapeutic potential and strengthened the conclusions of NurOwn's® efficacy," said Chaim Lebovits, Chief Executive Officer. "After carefully considering these learnings, the totality of the evidence from NurOwn's® clinical studies, and the feedback received from key opinion leaders and the broader ALS community, we will submit a Biologics License Application to the FDA. We are deeply grateful to the ALS clinical experts, members of the ALS community and faithful investors for their contribution to the development of NurOwn® and what it may mean to those living with ALS. Their contributions and commitment made our current progress possible and continue to inspire us as we prepare for the considerable work ahead. We intend to provide additional updates upon learning whether the FDA files our BLA submission."
New clinical analyses strengthen the conclusions from NurOwn's® Phase 3 clinical trial
A correction was made to the Muscle and Nerve publication from December 2021 describing the results of NurOwn's® Phase 3 clinical trial in ALS following new clinical analyses which strengthen the Company's original conclusions from the trial. The correction results in a statistically significant treatment difference (p=0.050) of more than 2 points for an important secondary endpoint, average change from baseline in ALSFRS-R, in the pre-specified efficacy subgroup of participants with a baseline score of at least 35. Analyses reported in the original publication utilized an efficacy model that unintentionally deviated from the trial's pre-specified statistical analysis plan by erroneously incorporating interaction terms between the subgroup and treatment. The newly published results, which includes supporting information to the publication, employ the efficacy model as pre-specified in the trial's statistical analysis plan, correcting the analyses. The correction also relates to the other subgroup analyses published for this endpoint, demonstrating that all subgroups with ALSFRS-R baseline scores of at least 26 to 35 showed a statistically significant benefit following treatment with NurOwn® (p≤0.050) on this secondary endpoint.
Other Second Quarter 2022 and Recent Highlights
- Presented new analyses from NurOwn's® Phase 3 ALS trial that showed a treatment effect in participants predicted by the ENCALS model to have intermediate to very long survival. These analyses confirmed the importance of avoiding potentially misclassifying treatment responses due to the ALSFRS-R floor effect and were presented in a poster presentation at the 2022 European Network for the Cure of ALS (ENCALS) Meeting. The presentation was delivered by Dr. Jonathan Katz, principal investigator on the trial and Chair of the Neurology Department and Director of the Forbes Norris ALS Clinic at the California Pacific Medical Center.
- Biomarker analyses from NurOwn's® Phase 3 ALS trial were the subject of an abstract presented at the 2022 American Academy of Neurology Congress by Dr. James Berry, MD, MPH, principal investigator on the trial and Director of the Massachusetts General Hospital Multidisciplinary ALS Clinic and Chief of the Division of ALS and Motor Neuron Diseases. Results of the analyses showed significant changes across multiple cerebrospinal fluid (CSF) biomarkers following NurOwn® treatment, with the strongest effects observed on biomarkers related to neuroprotection and neuroinflammation.
- Presented a summary of analyses from the Phase 3 trial of NurOwn® in ALS that highlighted the ability of biomarkers to predict clinical treatment response and provide a window into the complex biological pathways underlying disease progression. The presentation was delivered at the ALS Drug Development Summit by BrainStorm's President and Chief Medical Officer, Dr. Ralph Kern, MD, MHSc.
- Reported new results from the open-label Phase 2 study of NurOwn® in progressive multiple sclerosis (MS) that highlighted post-treatment improvements in monocular and binocular low contrast letter acuity (LCLA) outcomes (1.25% and 2.5% thresholds). In contrast, matched patients from the long-term Comprehensive Longitudinal Investigation of Multiple Sclerosis (CLIMB) study and participants from the placebo arm of the SPRINT study showed worsening in LCLA outcomes over a similar time period. The results were presented in a poster presentation delivered by Dr. Kern at the 2022 Consortium of Multiple Sclerosis Centers (CMSC) Meeting.
- Presented biomarker analyses from the open-label Phase 2 study of NurOwn® in progressive MS showing consistent post-treatment reductions in CSF inflammatory biomarkers that may be relevant to disease progression and treatment response. The presentation was delivered by Dr. Christopher Lock, PhD, Clinical Associate Professor, Neurology and Neurological Studies, at Stanford School of Medicine, at the CMSC 2022 Meeting.
- Preclinical in-vitro data that showed NurOwn® cells maintaining their neurotrophic and immunomodulatory effects in the presence of Siponimod, an S1P modulator recently approved for the treatment of secondary progressive MS, were presented in a poster presentation at the CMSC 2022 Meeting. The presentation was delivered by Dr. Sidney Spector, MD, PhD, Senior Vice President, Medical Affairs and Global Strategy at BrainStorm Cell Therapeutics.
- Reported preclinical data from a murine lung injury model (the bleomycin model) that demonstrated intrathecal administration of NurOwn®-derived exosomes (Exo MSC-NTF) may have potential as a clinical therapy for inflammatory pulmonary pathologies and display superior macrophage immunomodulation compared to naïve mesenchymal stem cell-derived exosomes (Exo-MSC). The data were presented at the International Society for Extracellular Vesicles (ISEV) 2022 Annual Meeting by Haggai Kaspi, PhD, Preclinical Research Manager at BrainStorm Cell Therapeutics.
- Preclinical in vitro data demonstrating the superior anti-inflammatory effects of Exo MSC-NTF compared to Exo-MSC were featured in a poster at the International Society of Cell & Gene Therapy (ISCT) 2022 Meeting. The poster was presented by Dr. Kim Thacker, Senior Vice President, Medical Affairs and Clinical Innovation at BrainStorm Cell Therapeutics.
- Strengthened executive team in preparation for anticipated growth and corporate development, with the appointment of Netta Blondheim-Shraga, PhD, as VP of Research & Development and Antal Pearl-Lendner, Adv., as Chief Legal Counsel
Financial Results for the Second Quarter Ended June 30, 2022
Cash, cash equivalents, and short-term bank deposits were approximately $12.2 million as of June 30, 2022, compared to $18.4 million as of March 31, 2022.
Research and development expenses for the three months ended June 30, 2022, and 2021 were approximately $5.1 million and $3.6 million, respectively.
General and administrative expenses for the three months ended June 30, 2022, and 2021 were approximately $2.5 million.
Net loss for the three months ended June 30, 2022, was approximately $7.0 million, as compared to a net loss of approximately $6.3 million for the three months ended June 30, 2021.
Net loss per share for the three months ended June 30, 2022, and 2021 was $0.19 and $0.17, respectively.
Conference Call and Webcast
August 15, 2022, at 8:00 a.m. Eastern Time
Participant Numbers:
Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 955552
Webcast URL: https://bit.ly/3cXwQkt
Those that wish to listen to the replay of the conference call can do so by dialing the numbers below. The replay will be available for 14 days.
Toll Free: 877-481-4010
International: 919-882-2331
Replay Passcode: 46290
About NurOwn®
The NurOwn® technology platform (autologous MSC-NTF cells) represents a promising investigational therapeutic approach to targeting disease pathways important in neurodegenerative disorders. MSC-NTF cells are produced from autologous, bone marrow-derived mesenchymal stem cells (MSCs) that have been expanded and differentiated ex vivo. MSCs are converted into MSC-NTF cells by growing them under patented conditions that induce the cells to secrete high levels of neurotrophic factors (NTFs). Autologous MSC-NTF cells are designed to effectively deliver multiple NTFs and immunomodulatory cytokines directly to the site of damage to elicit a desired biological effect and ultimately slow or stabilize disease progression.
About BrainStorm Cell Therapeutics Inc.
BrainStorm Cell Therapeutics Inc. is a leading developer of innovative autologous adult stem cell therapeutics for debilitating neurodegenerative diseases. The Company holds the rights to clinical development and commercialization of the NurOwn® technology platform used to produce autologous MSC-NTF cells through an exclusive, worldwide licensing agreement. Autologous MSC-NTF cells have received Orphan Drug designation status from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) for the treatment of amyotrophic lateral sclerosis (ALS). BrainStorm has completed a Phase 3 pivotal trial in ALS (NCT03280056); this trial investigated the safety and efficacy of repeat-administration of autologous MSC-NTF cells and was supported by a grant from the California Institute for Regenerative Medicine (CIRM CLIN2-0989). BrainStorm completed under an investigational new drug application a Phase 2 open-label multicenter trial (NCT03799718) of autologous MSC-NTF cells in progressive multiple sclerosis (MS) and was supported by a grant from the National MS Society (NMSS).
Safe-Harbor Statement
Statements in this announcement other than historical data and information, including statements regarding future BLA submission, constitute "forward-looking statements" and involve risks and uncertainties that could cause BrainStorm Cell Therapeutics Inc.'s actual results to differ materially from those stated or implied by such forward-looking statements. Terms and phrases such as "may," "should," "would," "could," "will," "expect," "likely," "believe," "plan," "estimate," "predict," "potential," and similar terms and phrases are intended to identify these forward-looking statements. The potential risks and uncertainties include, without limitation, BrainStorm's need to raise additional capital, BrainStorm's ability to continue as a going concern, BrainStorm's plan to submit a BLA for NurOwn® to the FDA, prospects that the FDA will accept BrainStorm's BLA for NurOwn® for filing and review, prospects that the FDA does not view BrainStorm's NurOwn® product candidate to have demonstrated adequate safety or effectiveness, prospects for future regulatory approval of BrainStorm's NurOwn® treatment candidate, the success of BrainStorm's product development programs and research, regulatory and personnel issues, development of a global market for BrainStorm's products, if approved, and services, the ability to secure and maintain research institutions to conduct BrainStorm's clinical trials, the ability to generate significant revenue, the ability of BrainStorm's NurOwn® treatment candidate to achieve broad acceptance as a treatment option for ALS or other neurodegenerative diseases, BrainStorm's ability to manufacture and commercialize the NurOwn® treatment candidate, obtaining patents that provide meaningful protection, competition and market developments, BrainStorm's ability to protect our intellectual property from infringement by third parties, health reform legislation, demand for our services, currency exchange rates and product liability claims and litigation; the impacts of the COVID-19 pandemic and additional strains of COVID-19 or any other health epidemic on our clinical trials, supply chain, and operations; potential delays in any planned or anticipated review or interactions with the FDA due to disruptions at, or inadequate funding of, the FDA; the impact of global economic and political developments on our business, including rising inflation and capital market disruptions; the current conflict in Ukraine, economic sanctions and economic slowdowns or recessions that may result from such development; and other factors detailed in BrainStorm's annual report on Form 10-K and quarterly reports on Form 10-Q available at http://www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on BrainStorm's forward-looking statements. The forward-looking statements contained in this press release are based on the beliefs, expectations, and opinions of management as of the date of this press release. We do not assume any obligation to update forward-looking statements to reflect actual results or assumptions if circumstances or management's beliefs, expectations or opinions should change, unless otherwise required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements.
CONTACTS
Investor Relations:
John Mullaly
LifeSci Advisors, LLC
Phone: +1 617-429-3548
jmullaly@lifesciadvisors.com
Media:
Lisa Guiterman
Phone: +1 202 330-3431
lisa.guiterman@gmail.com
The accompanying notes are an integral part of the consolidated financial statements.
The accompanying notes are an integral part of the consolidated financial statements.
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SOURCE BrainStorm Cell Therapeutics Inc | https://www.whsv.com/prnewswire/2022/08/15/brainstorm-cell-therapeutics-announces-second-quarter-2022-financial-results-provides-corporate-update/ | 2022-08-15T12:46:54Z |
Customers invited to fill up their favorite cup with a Slurpee drink at participating 7-Eleven, Speedway and Stripes stores on Aug. 27 for just $1.99
IRVING, Texas, Aug. 15, 2022 /PRNewswire/ -- It's time to put that participation trophy to good use! Bring Your Own Cup (aka BYOC) Day is making its triumphant return to 7-Eleven, Inc. this summer. On August 27, 7Rewards® and Speedy Rewards® loyalty members are encouraged to grab their cookie jars, fish bowls or any other creative container and fill it up with their favorite Slurpee® drink flavor (or flavors!) for just $1.99 at participating 7-Eleven®, Stripes® and Speedway® locations.
As the saying goes, "If it fits in the cup, fill'er up!" But of course, there are some rules to make sure that customers celebrate the right way this Bring Your Own Cup Day:
- Make sure the cup is clean. Of course, this is a given.
- Confirm that the cup is watertight – aka leak proof! Not a single drop of precious Slurpee drink should go to waste.
- Verify that said cup fits upright within the 10-inch diameter hole in the in-store display. If it doesn't, it's not fitting under the Slurpee drink dispenser.
"We know that Slurpee drinks are a summertime staple for customers, so we're bringing back BYOC Day to celebrate the popular frozen beverage for a second time this summer following a very successful Slurpee Day," said Dennis Phelps, 7-Eleven Proprietary Beverages Senior Product Director. "We want customers to build the Slurpee drink of their dreams while having fun with their vessel of choice – and we can't wait to see some of the creative cups they come up with."
Customers can sip on classic Slurpee flavors like Blue Raspberry, Cherry, Pina Colada or Coca-Cola—or indulge in our limited-time-only flavor Mango Lemonade, blended with a zesty mix of mango and tart lemonade. Customers can also get creative and make up their own flavor concoctions - Cherry and Blue Raspberry with a drop of Pina Colada? Yum!
Those who claim to have something more important to do on August 27 don't have to fret. Prefer sipping on a Slurpee drink poolside? As always, fans can get their go-to beverage (and more than 3,000 other 7-Eleven favorites) delivered via 7NOW®. Customers can also enjoy small Slurpee drinks all summer long for just $1.
The 7NOW delivery app can be downloaded from the App Store or Google Play, or by visiting 7Rewards.com.
*Promotion is limited to one cup per customer. Taxes not included in prices listed above. Any applicable taxes will apply.
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name in the convenience-retailing industry. Based in Irving, Texas, 7-Eleven operates, franchises and/or licenses more than 13,000 stores in the U.S. and Canada. In addition to 7-Eleven® stores, 7-Eleven, Inc. operates and franchises Speedway®, Stripes®, Laredo Taco Company® and Raise the Roost® Chicken and Biscuits locations. Known for its iconic brands such as Slurpee®, Big Bite® and Big Gulp®, 7-Eleven has expanded into high-quality sandwiches, salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings and mini beef tacos. 7-Eleven offers customers industry-leading private brand products under the 7-Select™ brand including healthy options, decadent treats and everyday favorites at an outstanding value. Customers can earn and redeem points on various items in stores nationwide through its 7Rewards® loyalty program with more than 50 million members, place an order in the 7NOW® delivery app in over 2,000 cities, or rely on 7-Eleven for bill payment service, self-service lockers and other convenient services. Find out more online at www.7-Eleven.com.
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SOURCE 7-Eleven, Inc. | https://www.whsv.com/prnewswire/2022/08/15/bring-your-own-cup-day-returns/ | 2022-08-15T12:47:01Z |
BURNABY, BC, Aug. 15, 2022 /PRNewswire/ - Cellula Robotics Ltd. is excited to announce the successful completion of various demonstration missions using the hydrogen fuel cell powered autonomous underwater vehicle (AUV), Solus-LR.
The missions, executed in Vancouver's Indian Arm inlet on July 15th, demonstrated the remarkable autonomous launch of a micro-AUV from Solus-LR while submerged and underway. Following the launch, the micro-AUV surfaced and transmitted a status message to Solus-LR's command and control center via Iridium satellite. The operation was the first of its kind and demonstrated near real-time, over-the-horizon communications from a submerged AUV.
The demonstration was observed by representatives from Trusted Autonomous Systems (TAS), the Royal Australian Navy, Royal Canadian Navy, Defence Research Development Canada (DRDC), Defence Science & Technology Group (DSTG Australia) and the Minister of State for Trade, Vancouver-Fraserview, George Chow, as part of Cellula's ongoing work with TAS' SeaWolf program.
Built on a research and development project originally sponsored by DRDC under the All Domain Situational Awareness (ADSA) Science and Technology (S&T) Program that developed Solus-LR, the mission re-enforced the capabilities and potential of a long-range, hydrogen fuel cell powered AUV designed for submerged missions in excess of 2,000 km.
CEO of TAS, Professor Jason Scholz said: "We were extremely impressed to see these novel technologies, particularly the hydrogen fuel-cell succeed in sea trial conditions. This type of power provides an additional viable option to diesel, battery-only and nuclear propulsion. Cellula Robotics continue to impress on the SeaWolf program, along with the contributions of our many Australian partners in the consortium. We aim to continue to develop this capability option for Defence consideration."
About Cellula Robotics Ltd.
Engineering solutions, intelligent systems.
Cellula Robotics Ltd. is a proudly Canadian, privately owned, world leading marine technology company specializing in turnkey design and production of subsea robotic systems. Headquartered in Burnaby, British Columbia, Cellula employs 70 staff with a dedicated team of highly-skilled engineers, designers, and technicians. Cellula's extensive experience in projects that require integrated mechanical, electrical, hydraulic, and software elements in a subsea environment is evident in its wide client base spanning over the defence, mineral exploration and oil & gas sectors. Cellula prides itself in having developed and implemented a rigorous ISO 9001:2015 Quality Management System that continues to meet and exceed client expectations.
For more information, please go to www.cellula.com.
About Trusted Autonomous Systems
Trusted Autonomous Systems (TAS) is Australia's first Defence Cooperative Research Centre. It is uniquely equipped to deliver research into world-leading autonomous and robotic technologies. Its goal: to enable trusted and effective cooperation between humans and machines. TAS aims to improve the competitiveness, productivity, and sustainability of Australian industry through industry-led projects with real translation opportunities to move technology rapidly from universities into industry and ultimately into leading edge capability for the Australian Defence Force. The SeaWolf program phase 1 is undertaken on behalf the Royal Australian Navy (RAN) Warfare Innovation Navy (WIN) Branch.
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SOURCE Cellula Robotics Ltd. | https://www.whsv.com/prnewswire/2022/08/15/cellula-successfully-completes-demonstration-missions-using-hydrogen-fuel-cell-powered-auv/ | 2022-08-15T12:47:07Z |
Company hires financial and M&A veteran Ronen Stein to help accelerate growth and profitability
ROSH HA'AIN, Israel, Aug. 15, 2022 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT) ("Ceragon" or the "Company"), a global innovator and leading solutions provider of 5G wireless transport, today announced the appointment of Ronen Stein as the Company's new Chief Financial Officer, effective September 21, 2022. Mr. Stein will report directly to the CEO, Doron Arazi.
As the newly appointed CFO, Mr. Stein will provide financial and strategic leadership and planning to help accelerate Ceragon's business momentum and deliver profitable growth. Mr. Stein is an accomplished financial executive and a business leader with more than twenty years of CFO experience having held a variety of CFO roles in both private and U.S. listed public companies. He brings extensive experience in mergers and acquisitions in diverse industries, leading transactions from both sides of the table.
Most recently, Mr. Stein was CFO of Siklu, an Israel-based company in the telecommunications sector. Previously he served as the CFO of 10bis, Enercon technologies, Knock N'Lock, and Pointer Telocation. Mr. Stein is a Certified Public Accountant in Israel and has a Master of Business Administration (M.B.A.), as well as a bachelor's degree in economics and accounting, both from Tel Aviv University.
Mr. Arazi, Ceragon CEO, commented, "We are excited to welcome Ronen to our executive team. Ronen is a proven executive and financial leader with a track record of driving enhanced performance across both public and private organizations. We're confident his expertise and experience will be a powerful asset for Ceragon as we continue executing on our strategy."
Mr. Stein, newly appointed CFO of Ceragon commented, "Ceragon is a true industry leader and I'm thrilled to join the Company. I can clearly see the business potential and I am excited to join Doron and the management team to continue to accelerate growth and profitability and deepen the Company's existing relations with the investor community."
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and leading solutions provider of 5G wireless transport. We help operators and other service providers worldwide increase operational efficiency and enhance end customers' quality of experience with innovative wireless backhaul and fronthaul solutions. Our customers include service providers, public safety organizations, government agencies and utility companies, which use our solutions to deliver 5G & 4G broadband wireless connectivity, mission-critical multimedia services, stabilized communications, and other applications at high reliability and speed.
Ceragon's unique multicore technology and disaggregated approach to wireless transport provides highly reliable, fast to deploy, high-capacity wireless transport for 5G and 4G networks with minimal use of spectrum, power, real estate, and labor resources. It enables increased productivity, as well as simple and quick network modernization, positioning Ceragon as a leading solutions provider for the 5G era. We deliver a complete portfolio of turnkey end-to-end AI-based managed and professional services that ensure efficient network rollout and optimization to achieve the highest value for our customers. Our solutions are deployed by more than 400 service providers, as well as more than 800 private network owners, in more than 150 countries. For more information please visit: www.ceragon.com
Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. in the United States and other countries. CERAGON ® is a trademark of Ceragon Networks Ltd., registered in various countries. Other names mentioned are owned by their respective holders.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This document contains statements that constitute "forward-looking statements" within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Ceragon's management about Ceragon's business, financial condition, results of operations, micro and macro market trends and other issues addressed or reflected therein. Examples of forward-looking statements include, but are not limited to, statements regarding: projections of demand, revenues, net income, gross margin, capital expenditures and liquidity, competitive pressures, order timing, supply chain and shipping, components availability, growth prospects, product development, financial resources, cost savings and other financial and market matters. You may identify these and other forward-looking statements by the use of words such as "may", "plans", "anticipates", "believes", "estimates", "targets", "expects", "intends", "potential" or the negative of such terms, or other comparable terminology, although not all forward-looking statements contain these identifying words.
Although we believe that the projections reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations therefrom will not be material. Such forward-looking statements involve known and unknown risks and uncertainties that may cause Ceragon's future results or performance to differ materially from those anticipated, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, any ongoing actions taken and future actions that may be taken by Aviat Networks Inc. or other stockholders or others; the continuing impact of the components shortage due to the global shortage in semiconductors, chipsets, components and other commodities, on our supply chain, manufacturing capacity and ability to timely deliver our products, which have caused, and could continue to cause delays in deliveries of our products and in the deployment of projects by our customers, risk of penalties and orders cancellation created thereby, as well as profit erosion due to constant price increase, payment of expedite fees and costs of inventory pre-ordering and procurement acceleration of such inventory, and the risk of becoming a deadstock if not consumed; the continued effect of the global increase in shipping costs and decrease in shipping slots availability on us, our supply chain and customers, which have resulted, and may continue to result in, price erosion, late deliveries and the risk of penalties and orders cancellation due to late deliveries; the impact of the transition to 5G technologies on our revenues if such transition is developed differently than we anticipated; the risks relating to the concentration of a major portion of our business on large mobile operators around the world from which we derive a significant portion of our ordering, that due to their relative effect on the overall ordering coupled with inconsistent ordering pattern and volume of business directed to us, creates high volatility with respect to our financial results and results of operations; the effect of the competition from other wireless transport equipment providers and from other communication solutions that compete with our high-capacity point-to-point wireless products; the continued effect of the COVID-19 pandemic on the global economy and markets and on us and on the markets in which we operate and our and our customers, providers, business partners and contractors business and operations; the risks relating to increased breaches of network or information technology security along with increase in cyber-attack activities, growing cyber-crime threats, and changes in privacy and data protection laws, that could have an adverse effect on our business; risks associated with any failure to meet our product development timetable, including delay in the commercialization of our new chipset; imposition of additional sanctions and global trade limitations in connection with Russia's invasion to Ukraine, the effects of general economic conditions and trends on the global and local markets in which we operate and such other risks, uncertainties and other factors that could affect our results, as further detailed in Ceragon's most recent Annual Report on Form 20-F and in Ceragon's other filings with the Securities and Exchange Commission.
Such forward-looking statements, including the risks, uncertainties and other factors that could affect our results, represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. Such forward-looking statements do not purport to be predictions of future events or results and there can be no assurance that it will prove to be accurate. Ceragon may elect to update these forward-looking statements at some point in the future but the company specifically disclaims any obligation to do so except as may be required by law.
Ceragon's public filings are available on the Securities and Exchange Commission's website at www.sec.gov and may also be obtained from Ceragon's website at www.ceragon.com.
ADDITIONAL INFORMATION
Ceragon has filed a definitive proxy statement and WHITE proxy card with the U.S. Securities and Exchange Commission (the "SEC") in connection with its solicitation of proxies for the 2022 Extraordinary General Meeting of Ceragon Shareholders (the "2022 Extraordinary General Meeting"). CERAGON SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD AS THEY CONTAIN IMPORTANT INFORMATION. Shareholders may obtain the proxy statement, any amendments or supplements to the proxy statement and other documents as and when filed by Ceragon with the SEC without charge from the SEC's website at www.sec.gov.
Ceragon Investor & Media Contact:
Maya Lustig
Ceragon Networks
Tel. +972-54-677-8100
mayal@ceragon.com
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SOURCE Ceragon Networks Ltd. | https://www.whsv.com/prnewswire/2022/08/15/ceragon-networks-appoints-ronen-stein-chief-financial-officer/ | 2022-08-15T12:47:14Z |
Repeat tax software entrepreneurs launch the Sales Tax Automation Platform for complex enterprises.
The platform provides granular geo-targeting, a universal rules engine, and an API to enable real-time calculations to put sales tax automation on autopilot for a wide variety of vertical markets.
ATLANTA, Aug. 15, 2022 /PRNewswire/ -- CereTax, the next-generation sales tax automation platform, came out of stealth today and announced the first wave of key customers and partners using the platform.
CereTax came to life because the founders, after decades working with the legacy platforms, realized that existing sales tax automation solutions designed for complex verticals and larger enterprises had become antiquated. This led to slow performance, frequent downtime, expensive customizations, and hours of maintenance efforts. While modern cloud-based SaaS solutions have been created to solve many business problems, they haven't yet proliferated the enterprise sales tax space.
"Our Software-as-a-Service (SaaS) solution was built using a modern approach to take advantage of native cloud architecture. This design allows for API-driven integrations, rapid performance with high reliability, the ability to handle sales tax, purchases (use tax), validation, analytics, and omnichannel sales for multiple verticals, all through one platform," said Mike Sanders, CereTax CEO. "Shockingly, a new tax automation solution for complex or enterprise businesses has not been built in over 20 years. A lot has changed in two decades, so we set out to address that market need."
In the US alone, across cities, counties, and states, larger businesses must account for over 17,000 different sales tax jurisdictions and how they apply to thousands of products being bought and sold. These rules often change monthly, making calculations and compliance extremely challenging. Getting these calculations wrong is very costly, and larger businesses can see fines and penalties that create liabilities in the millions of dollars per year.
The leadership team's experience includes successfully building Tax Partners (acquired by Thomson Reuters), CCH SureTax (acquired by Wolters Kluwer), and many years implementing tax solutions for KPMG, Ryan, and EY. This domain knowledge provided the background and experience to identify and solve complex sales tax problems.
A great case study is one we just completed for a large, multinational manufacturing company.
"Before our introduction to CereTax, we were struggling to identify our correct sales tax liabilities accurately and in a timely manner, which had a significant impact on our costs and time," said their Tax Director. "We had to bring together multiple solutions, consultants, and our tax team to get it done. With thousands of transactions to evaluate monthly, we were in a very challenging spot. After launching CereTax in parallel with our existing systems, we were immediately able to recognize huge cost and time savings while ensuring we were complying with all the regulations. The CereTax team is extremely knowledgeable and responsive, making the launch and ongoing operations seamless."
Other incumbents and start-ups in the sales tax space are focused on the more simplified needs of small businesses and have not yet developed the product architecture, industry specific capabilities, and customer service model to serve complex enterprises.
"The needs of complex businesses selling into multiple vertical markets in numerous jurisdictions are very different from small companies," said Brent Walker, CereTax VP of Operations. "To satisfy their needs, you need to deliver specialized taxability decisions, granular geo-targeting, an extensible rules engine, real-time processing, and continuous learning. You need to take an extremely complicated operating environment and streamline it to make it easy to manage."
CereTax is building deep integrations with an expanding set of ERPs, accounting, and operational systems to enable quick deployments and real-time operations.
"We are very enthusiastic about the market reception and look forward to soon announcing additional innovative capabilities and a network of implementation partners," said Mike Sanders, CEO.
"We have worked with members of the CereTax leadership team for years. We are excited to be working with them again to bring to market a key integration to the Coupa business spend management platform," said Robert Kleppel, Partner, KPMG. "We look forward to showing the market how blending the expertise of the KPMG team and new technology of CereTax can greatly benefit Coupa users."
Leaders Fund led the seed round with participation from investors in the founders previous two companies. With this capital, CereTax will extend its product offering for additional vertical markets, expand its team and its partner ecosystem, and continue to become the tax automation solution for complex verticals and larger enterprises.
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SOURCE CereTax | https://www.whsv.com/prnewswire/2022/08/15/ceretax-comes-out-stealth-with-10m-seed-round-fortune-500-customers/ | 2022-08-15T12:47:21Z |
Home Model Showcases How Off-Site Built Housing Offers an Attainable Solution
ELKHART, Ind., Aug. 15, 2022 /PRNewswire/ -- A Clayton CrossMod® home on display at the RV/MH Hall of Fame is now open to visitors. The home represents a modern housing solution for individuals and families amid the ever growing affordable housing crisis. Clayton, a national home builder, offers beautiful, attainable homes, like the one on display, that feature a variety of unique styles and energy-saving home options.
The Clayton CrossMod home, along with two other off-site built houses, are part of a new 21,000 square foot Manufactured Home Museum expansion. The new wing is dedicated to showcasing the industry's history and the innovations yet to come. It features interactive displays and the opportunity to tour three off-site built homes.
"CrossMod homes are built off-site like manufactured homes and are an affordable, sustainable solution to today's housing crisis and can be built more efficiently than traditional site-built homes," said Kevin Clayton, CEO. "More consumers, lenders, appraisers, and zoning officials are realizing the benefits of building a home indoors – and when visitors walk through this CrossMod home they will see just how indistinguishable it is from any other beautiful, modern house."
The CrossMod home on display is the Hawthorne floor plan. CrossMod homes blend off-site construction methods with on-site features and design to produce an affordable home on a permanent foundation that looks and performs like a site-built house. In addition, CrossMod homes can be financed like a site-built home and appraised using site-built comps. These new homes can help expand zoning opportunities, where manufactured housing has not been previously allowed as a housing solution, mostly due to outdated stigmas. They are an example of how the industry continues innovating the building process to help even more individuals and families achieve the dream of homeownership.
Following the grand opening, Tim Williams, President and CEO of 21st Mortgage®, a subsidiary of Clayton, was inducted into the 2022 RV/MH Hall of Fame, which recognizes outstanding careers of those in the industry. Williams has served as CEO since the mortgage company opened for business in 1995.
Founded in 1956, Clayton is committed to opening doors to a better life and building happyness® through homeownership. As a diverse builder committed to quality and durability, Clayton offers traditional site-built homes and off-site built housing – including modular homes, manufactured homes, CrossMod® homes, tiny homes, college dormitories, military barracks and apartments. All Clayton Built® homes are proudly designed, engineered and assembled in America. In 2021, Clayton built 60,701 homes across the country. Clayton is a Berkshire Hathaway company. For more information, visit claytonhomes.com.
21st Mortgage Corporation, 620 Market Street, Knoxville, TN 37902, 865-523-2120, NMLS #2280,(http://www.nmlsconsumeraccess.org/)
*CrossMod is a trademark of the Manufactured Housing Institute.
Media Contact:
Caitlyn Crosby
media@claytonhomes.com
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SOURCE Clayton | https://www.whsv.com/prnewswire/2022/08/15/clayton-crossmod-home-displayed-museum-highlights-manufactured-housing-innovations-over-years/ | 2022-08-15T12:47:27Z |
Upgraded Product Simplifies Logistics, Achieves Unified Network Operations for U.S. Defense
AUGUSTA, Ga., Aug. 15, 2022 /PRNewswire/ -- CodeMettle, an innovative developer of NetOps software, today announced the launch of Terminus 2.0 at TechNet Augusta 2022. Developed with a strategic focus on Warfighter requirements, Terminus 2.0 is the only commercial grade software developed from the ground up to manage and control tactical diverse communications nodes at scale in contested and congested networks.
"Tactical DoD networks are critical infrastructure that need to adapt to changes at the speed of battle," said Richard Graham, CEO of CodeMettle. "Terminus 2.0 was built in collaboration with soldiers, for soldiers. It is a complete nodal management product designed to make the stand-up and operation of any tactical node simple. Terminus 2.0 has been designed to meet or exceed the Army's known objectives for Unified Network Operations at the tactical edge."
CodeMettle software simplifies node management by reducing the software tools and the cognitive load required to run the network at the tactical edge. Terminus 2.0 is designed to be run out-of-the-box by relatively untrained soldiers with little experience. Because of this, soldiers operating with Terminus 2.0 can more quickly and easily than ever before stand up and run a node for critical communications services at the edge.
In the 2.0 release, Terminus is now compatible with any baseband kit out the box, i.e., it manages baseband systems with no specialized configuration required. In 2.0, the process of setting up systems has been streamlined to lower training requirements and accelerate node setup. The UI is built to the Google Material UI standard, making it intuitive for anyone to use, enhanced by a visualization technique called progressive disclosure to expose only what is needed, when it is needed to simplify node operations.
CodeMettle serves defense, government and commercial partners through innovative and scalable commercial software products. Our agile solutions solve the most complex data integration, network operations and process challenges. Headquartered in Atlanta, Georgia, CodeMettle provides a suite of distributed and scalable Network Operations products that enable enterprises to analyze, organize and consolidate complex data, processes and operations. Learn more.
Contact:
Joyce Bosc
On behalf of CodeMettle
(301) 717-9529
jbosc@boscobel.com
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SOURCE CodeMettle | https://www.whsv.com/prnewswire/2022/08/15/codemettle-launches-terminus-20-technet-augusta-2022/ | 2022-08-15T12:47:34Z |
Partnership Creates First of Its Kind "Fine Art Tattoo NFTs"
LOS ANGELES, Aug. 15, 2022 /PRNewswire/ -- Cosmic Wire, a leader in the push to realize Web3, has partnered with celebrity tattoo artist Ivana Belakova to launch her unique, one of a kind art tattoos as NFTs.
This NFT collection of unique tattoo art will also act as VIP tickets for Ivana's series of global events scheduled for Dubai, Europe, and Los Angeles. Pass holders will also receive exclusive access to her live tattoo sessions and will have a special opportunity to win a tattoo of their very own, including a collection of other physical items with their NFT Tattoo depicted on it. Certain pass holders will also have access to hear directly from Ivana's celebrity clients as they describe the process and her work at fireside chats hosted at Ivana's collection of favorite restaurants, luxury venues and yachts throughout Europe and the United States.
Ivana hosted special events are sponsored by Ultron. The Ultron Foundation is an emerging blockchain project focused on offering scalability, security, and faster transaction throughputs, without compromising one for the other. Ultron Foundation is building a wholesome ecosystem that will roll out new dApps rapidly, one of them being their own decentralized exchange (DEX).
In 2018, Ivana Belakova a.k.a. IVANA TATTOO ART became the first and only woman in the world whose tattoos are certified as contemporary fine art by the Macro Museum in Rome. Known for her funky color and illustrative street style of tattooing, Ivana is also a gifted illustrator, clothing designer and motivational speaker. Her celebrity client list includes Lil Wayne, Chris Brown, Rich the Kid, Quavo, and Mia Khalifa.
"When I see a person, I can feel their energy and see their colors. The tattoo I then create reflects their self-expression, freedom, positive energy, and have a fun and dynamic vibe," said Ivana Tattoo Art. "I am and have always been a proud trailblazer! If I could trailblaze to Mars, I would! But, for now, catch me in the Metaverse!"
Ivana is also an accomplished author with two books published including "Narcissistic Rockstar" and "Just Love Tattoos & Sushi" Ivana is a self-taught artist who has been perfecting her style for the last 22 years. Ivana also has seminars and teaches all over the world including Shanghai, India, Columbia, and Mexico. Her style is innovative, sophisticated, and eclectic; a sexy mixture of multiple genres combining funky, bright colors and abstract elements with street style and high art. Her tattoos are positive, playful, beautiful, sometimes mischievous, and always fun.
"Ivana creates her art by first understanding what speaks to the person she is working on and then creating around them. She has built a community using her art as the vehicle. Cosmic Wire was honored to be able to support such an amazing project," said Cosmic Wire CEO Jerad Finck.
The IVANA TATTOO ART custom studio is based in Long Beach, California.
For more information, visit https://cosmicwire.com
About Cosmic Wire:
Based in Los Angeles, Cosmic Wire is a platform agnostic Web3 entertainment technology company that offers brands, celebrities, artists, and IP collectors the ability to enhance, promote, license, and sell their work. Cosmic Wire creates NFTs with a purpose and expands the value of iconic physical and digital assets using tools such as blockchain, NFTs, and immersive experiences. Staffed by some of the very best in the industry, Cosmic Wire's completely internalized development, marketing, and sales teams support clients from concept to close. Cosmic Wire believes that a proper client contract provides a shared experience of success for Cosmic Wire and their clients so that Cosmic Wire succeeds when their clients do.
Website: https://www.cosmicwire.com
LinkedIn: https://www.linkedin.com/company/official-cosmic-wire-incorporated
Facebook: https://www.facebook.com/cosmicwire
Twitter: https://www.twitter.com/cosmicwireinc
Instagram: https://www.instagram.com/cosmicwireinc
Discord: https://discord.gg/cosmicwire
Rubenstein Public Relations
Steven Weiss
sweiss@rubensteinpr.com
Direct: (212) 805-3062
Cosmic Wire
Alan Wallace
press@cosmicwire.com
Direct: (917) 524-7440
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SOURCE Cosmic Wire | https://www.whsv.com/prnewswire/2022/08/15/cosmic-wire-launch-ivana-tattoo-art-metaverse/ | 2022-08-15T12:47:41Z |
VANCOUVER, BC, Aug. 15, 2022 /PRNewswire/ - CubicFarm® Systems Corp. ("CubicFarms" or the "Company") (TSX: CUB), a leading local chain agricultural technology company, today reported its second quarter financial and operating results for the three and six months ended June 30, 2022. All amounts are in Canadian dollars, unless otherwise stated.
"In the second quarter, we continued our focus on project execution, including installations underway of our commercial indoor growing CubicFarm Systems and HydroGreen Automated Vertical Pastures™ ("AVPs") solutions, while further building our sales pipeline," said Carlos Yam, Chief Financial Officer, CubicFarms. "We will review our operating performance on an ongoing basis and implement measures, including expense management, to ensure financial alignment within our operations," said Yam.
"HydroGreen's installation of AVPs that make up the world's largest automated indoor growing solution is nearing completion at Burnett's Land & Livestock in Carpenter, Wyoming, where our HydroGreen Certified Dealer Network is already touring potential customers," said Dan Schmidt, President of HydroGreen, a division of CubicFarms. "Recently, we welcomed more than 400 National Holstein Convention conference participants to our HydroGreen Innovation Center R&D facility in Sioux Falls, South Dakota. At the event, we showcased growing from seed to feed in six days and how nutritious HydroGreen fresh forage can lower methane emissions in dairy cows by about 24 per cent on a per unit milk output and in beef cattle by about 48 per cent on a per kilogram weight gain basis, plus other significant benefits like saving water and land. We've received strong interest in our machines from both domestic and international markets."
"Our focus is on the strategic growth of our next generation of indoor growing systems, empowered by our software platform and latest research," said Dave Dinesen, Chief Executive Officer, CubicFarms. "Our R&D efforts continue to drive improvements in the scalability of the CubicFarm Systems and HydroGreen AVPs, and through leveraging data science, we're making continuous progress on plant and animal performance results. We're also very excited about the announcement of our carbon credit commercialization strategy. The incremental value of carbon credits from our AVPs coupled with recently announced studies has created a compelling economic proposition in the livestock industry, in addition to the environmental benefits allowing farmers and ranchers to achieve reliable and consistent feed production for their herds."
- The Company currently has a total of 223 modules pending manufacturing and installation, with a total estimated contract value of USD $30.7 million.
- Revenue for the three months ended June 30, 2022, was $2.9 million, up from $0.4 million in the prior period. Q2 revenue included sales of CubicFarm Systems and HydroGreen AVPs of $2.7 million, up from $0.1 million in the prior period. Revenue for the six months ended June 30, 2022, was $3.1 million, compared to $4.3 million in the prior period.
- Net loss for the three and six months ended June 30, 2022, was $9.1 million and $17.9 million respectively, compared to net loss of $6.5 million and $10.1 million in the prior period. The increased net loss in the current quarter reflected the Company's continued expansion through staffing additions in the areas of research and development and general operations.
- Research and development expense for the three and six months ended June 30, 2022, was $3.2 million and $5.8 million respectively, compared to $1.3 million and $2.5 million in the prior period.
- Selling, general and administrative expense for the three and six months ended June 30, 2022, was $6.0 million and $11.7 million respectively, compared to $5.0 million and $8.9 million in the prior period.
- On April 1, 2022, the Company announced Mountainland Supply Company as a new member of the HydroGreen Certified Dealer Network.
- On April 27, 2022, the Company announced the appointment of Carlos Yam as CFO of the Company, effective June 27, 2022. With over 15 years of experience as a senior financial executive for public and private companies, Yam has served as CFO of both publicly traded and private companies with responsibilities ranging from strategic growth, capital markets, mergers and acquisitions, business integration, risk management, banking and treasury, to financial reporting and analysis and operational finance.
- On May 12, 2022, the Company announced new data that demonstrates 54% to 62% less energy is used in CubicFarm System modules compared to results reported by other vertical farms surveyed by Agritecture in its 2021 Global Controlled Environment Agriculture Census Report. With electricity being the number one input cost in vertical farming, this is a significant advantage to customers using the CubicFarm System technology.
- On May 17, 2022, the Company announced that its HydroGreen division has entered into an agreement with Deloitte LLP to develop a carbon commercialization program designed to provide high-quality carbon credits to a fast-growing global market. HydroGreen's commercial scale AVPs help meet increasing demand for valuable farm-based inset and offset carbon credits from organizations with net-zero goals worldwide.
- On June 2, 2022, the Company announced the closing of its overnight marketed public offering of unsecured convertible debenture units (the "Debenture Units") at a price of $1,000 per Debenture Unit for total gross proceeds of $6,540,000, and 7,361,000 common shares at a price of $0.55 per common share for total gross proceeds of $4,048,550. In aggregate, total gross proceeds were $10,588,550, which is inclusive of the partial exercise of the overallotment option.
- On June 14, 2022, the Company announced that it has entered an agreement with Cnossen Dairy for the sale of 10 HydroGreen AVPs. The AVPs will be installed in Hereford, West Texas, which currently milks 11,000 cows over 7,500 acres of farmland. In addition, the Company also announced Dairy Specialists, Advanced Dairy Systems, and Penner Farm Services have joined the HydroGreen Certified Dealer Network.
- On June 28, 2022, the Company announced that it has entered into agreements with NTE Discovery Park Ltd. for the sale of 26 CubicFarm System modules at a sale price of $4.4 million, as well as the future manufacturing of major components for contracts within North America. The initial 26 modules will be installed at Discovery Park in Campbell River, B.C., with the intention to expand with the sale and manufacturing of an additional 100 modules in the near future.
The Company's second quarter financial statements and management's discussion and analysis will be issued and filed on SEDAR at www.sedar.com on August 15, 2022, and will be available on the same day on CubicFarms' website at https://cubicfarms.com/investors/.
The Company also announced a comprehensive review of its internal cost structure to optimize operating efficiency and accelerate its path to profitability.
"We have realigned operating expenses by reducing approximately 16.5% of our workforce and other non-payroll related overhead expenditures, resulting in an estimated $6.7 million of annualized savings, or 21.8% of the Company's cash-based operating expenses on a trailing 12-month basis," said Yam. "Investors can expect to see the positive impact of these initiatives and results starting from Q3 onwards. With an optimized corporate structure and cost reductions, we are better positioned to support the disciplined, long-term growth of the business."
In addition, the Company will implement a centralized procurement structure aimed at rightsizing indirect costs and driving further efficiencies across its supply chain.
CubicFarms is a leading local chain agricultural technology company developing and deploying technology to feed a changing world. Its proprietary ag-tech solutions enable growers to produce high quality, predictable produce and fresh livestock feed with HydroGreen Nutrition Technology, a division of CubicFarm Systems Corp. The CubicFarms™ system contains patented technology for growing leafy greens and other crops onsite, indoors, all year round. CubicFarms provides an efficient, localized food supply solution that benefits our people, planet, and economy.
For more information, please visit www.cubicfarms.com.
On behalf of the Board of Directors
"Dave Dinesen"
Dave Dinesen, Chief Executive Officer
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, statements with respect to: the Company's sales pipeline (and the Company's ability to close sales in the current sales pipeline), the Company's growth strategy, the results of the Company's cost reduction measures, the quantification of value of carbon credits to the AVPs and the market for carbon credits generally.
Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such statements can be identified by the use of words such as "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict", and other similar terminology, or state that certain actions, events, or results "may", "can", "could", "would", "might", or "will" be taken, occur, or be achieved.
These statements reflect the Company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if the Company's expectations regarding future events, performance, or results change.
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SOURCE CubicFarm Systems Corp. | https://www.whsv.com/prnewswire/2022/08/15/cubicfarm-systems-corp-reports-q2-fy-2022-results-announces-cost-reduction-measures/ | 2022-08-15T12:47:47Z |
Getts strengthens the Curate Board with clinical development experience as founder and CEO of Myeloid Therapeutics
CARLSBAD, Calif., Aug. 15, 2022 /PRNewswire/ -- Curate Biosciences, a key enabling technology company for cell therapy manufacturing, today announced that Daniel Getts, Ph.D., cofounder and CEO of Myeloid Therapeutics, has been appointed to its Board of Directors. Dr. Getts is an immunologist by training and a serial entrepreneur with a proven track record in building and financing companies focused on creating next-generation immunotherapies. Dr. Getts will provide strategic guidance to Curate Biosciences as it approaches commercialization of its transformational Curate® Cell Processing system, fulfilling its commitment to deliver technologies that ensure faster, better, and more cost-effective access to cell therapies for patients.
"We are extremely pleased to have Daniel join our Board. Daniel brings with him a deep understanding of the cell therapy space, with significant experience in translational science, operational leadership and commercial acumen," said Mike Grisham, CEO of Curate Biosciences. "His breadth and depth of expertise will strengthen our Board and will be invaluable as we bring our life-saving Curate® Platform to patients."
Dr. Getts commented, "I am thrilled to join the Board of Curate Biosciences, who share a vision to innovate the cell therapy field. Curate Biosciences has technology capable of transforming cell therapy manufacturing. The data show that the cell separation technology is transformative and will support the development of more efficacious and cost-effective therapies for patients. I look forward to harnessing my drug development and clinical translation expertise to accelerate the deployment of Curate's exciting technologies to improve the lives of patients."
Dr. Getts is founder and CEO of Myeloid Therapeutics, a clinical stage mRNA-immunotherapy company harnessing the power of myeloid and innate biology to engineer novel therapies that elicit a broad immune response for cancer and autoimmune diseases. Myeloid is advancing a broad portfolio of clinical and preclinical candidates designed to enable full immune system responses. Before Dr. Getts started Myeloid, he was Vice President of Research at TCR2 Therapeutics (TCRR), a biotechnology company pioneering novel engineered T cell therapies to fight solid tumors and hematologic malignancies. In addition to supporting the companies $125M B round and $80M IPO, Getts led the company's target discovery, preclinical and translational research programs. This culminated in numerous patent applications, a robust pipeline, and a successfully filed investigational new drug application. Prior to TCR2 Therapeutics, Dr. Getts was primary inventor, co-founder and Chief Scientific Officer of Cour Pharmaceuticals, a nanotechnology platform company focused on autoimmunity and inflammation. At Cour his team supported the development of the world's first biodegradable intravenously infused immune tolerance therapy, which was subsequently out-licensed to Takeda for more than $400M. Prior to Cour he served as the scientific program lead at Tolera Therapeutics. Dr. Getts is decorated scientist and an inventor, with more than 20 patented and patent pending technologies in the fields of cell and gene therapy, RNA and immunology. He has more than 45 peer-reviewed publications, including highly cited papers in Nature Biotechnology, Science Translational Medicine, and Nature Communications. Dr. Getts holds a PhD in Medicine from the University of Sydney and an MBA from Western Michigan University.
About Curate Biosciences
Curate Biosciences is a life science company located in Carlsbad, CA, developing what standard cell processing technologies have failed to provide: the best quality starting material to dramatically reduce the total vein-to-vein cost. Curate Biosciences is advancing its platform technology - The Curate® Cell Processing System - to allow a faster path to cleaner and larger quantities of starting cells, one of the significant bottlenecks in gene and cell therapies. The Curate® Cell Processing System gently isolates leukocytes using Deterministic Cell Separation™ (DCS), an advanced, high speed microfluidic technology that gently separates cells based on size. Optimized for processing apheresis and cell culture samples, the Curate platform obtains larger quantities of healthier leukocytes compared to other separation technologies.
For more information: www.curatebio.com
Media Enquiries
curatebio@consortpartners.com
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SOURCE Curate Biosciences | https://www.whsv.com/prnewswire/2022/08/15/curate-biosciences-appoints-daniel-getts-phd-its-board-directors/ | 2022-08-15T12:47:53Z |
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