Vince Announces Reporting Date for Third Quarter 2020 Financial Results

Vince Announces Reporting Date for Third Quarter 2020 Financial Results

NEW YORK–(BUSINESS WIRE)–
Vince Holding Corp. (NYSE:VNCE), a leading global contemporary group, today announced that it plans to report its third quarter 2020 financial results post-market on Monday, December 14, 2020. The Company also plans to hold a conference call to discuss its financial results on the same day at 4:30 p.m. ET. During the conference call, the Company may answer questions concerning business and financial developments, trends and other business or financial matters. The Company’s responses to these questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed.

Those who wish to participate in the call may do so by dialing 833-392-0629, conference ID 6757388. Any interested party will also have the opportunity to access the call via the Internet at http://investors.vince.com/. To listen to the live call, please go to the website at least 15 minutes early to register and download any necessary audio software. For those who cannot listen to the live broadcast, a recording will be available for 12 months after the date of the event. Recordings may be accessed at http://investors.vince.com/.

ABOUT VINCEHOLDING CORP.

Vince Holding Corp. is a global contemporary group, consisting of three brands: Vince, Rebecca Taylor and Parker. Vince, established in 2002, is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day effortless style. Known for its range of luxury products, Vince offers women’s and men’s ready-to-wear, footwear and accessories through 48 full-price retail stores, 15 outlet stores, and its e-commerce site, vince.com and through its subscription service Vince Unfold, www.vinceunfold.com, as well as through premium wholesale channels globally. Rebecca Taylor, founded in 1996 in New York City, is a high-end women’s contemporary lifestyle brand inspired by beauty in the everyday. The Rebecca Taylor collection is available at 9 retail stores, through our e-commerce site at rebeccataylor.com and through its subscription service Rebecca Taylor RNTD, www.rebeccataylorrntd.com, as well as through high-end department and specialty stores in select international markets. Parker, founded in 2008 in New York City, is a contemporary women’s fashion brand that is trend focused. The Parker collection is available at high-end department and specialty stores in select international markets. Please visit www.vince.com for more information.

This press release is also available on the Vince Holding Corp. website (http://investors.vince.com/).

Investors:

Jean Fontana

ICR, Inc.

[email protected]

646-277-1214

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Retail Online Retail Luxury Fashion

MEDIA:

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Arena Pharmaceuticals Announces R&D Leadership Transition

Arena Pharmaceuticals Announces R&D Leadership Transition

  • Paul D. Streck, M.D., Appointed as Senior Vice President, Clinical Development and Chief Medical Officer, Bringing Successful Development and Launch Experience Across Multiple Therapeutic Indications

SAN DIEGO–(BUSINESS WIRE)–Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) today announced a transition of its R&D leadership and the appointment of Paul D. Streck, M.D., as Senior Vice President, Clinical Development and Chief Medical Officer reporting to Amit Munshi, President and CEO. The transition follows the retirement and resignation of Chris Cabell, M.D., M.H.S., FACC, who served as the company’s Executive Vice President, Head of Research and Development, and Chief Medical Officer since June 2020. The change is effective as of December 1, 2020 and Dr. Cabell will remain an advisor to the Company.

Dr. Streck brings more than 25 years of experience in drug development, regulatory and medical affairs leadership across both large and small publicly traded biopharmaceutical companies, and a track record of success with six global regulatory launches, five IND’s and nine commercial product launches.

“Having Dr. Streck’s deep executive experience as a physician in successful clinical development and medical affairs leadership roles puts Arena in a stronger position as we move toward completing late-stage clinical development into regulatory submission and pre-commercial planning. His proven global leadership roles across therapeutic indications provides for seamless integration for the Company’s current and future clinical and regulatory activities,” said Amit D. Munshi, Arena’s President and Chief Executive Officer.

“On behalf of Arena’s Board of Directors and management team, we would like to thank Chris for his ability to step into a critical role during an important time at our company. We wish him the best in his future endeavors.”

Most recently, Dr. Streck served as Chief Medical Officer at Alder Biopharmaceuticals, Inc., a publicly traded biotechnology company, acquired by Lundbeck in late 2019. In this role, Dr. Streck led clinical development, clinical operations, medical affairs, regulatory, and safety/pharmacovigilance, and drove U.S. approval of Vyepti®, a biologic medicine for prevention of migraines. From 2017-2019, Dr. Streck was the Chief Medical Officer of Insmed, Inc., a publicly traded biotechnology company. Previous biopharmaceutical experience includes progressive roles at Amgen, Shire, and GSK. He also has 10 years of experience in academic medical practice.

About Arena Pharmaceuticals

ARENA Pharmaceuticals is a team with a singular purpose – deliver our important medicines to patients.

In a rapidly changing global market, we work with a sense of urgency every day to understand the needs of all our stakeholders, identify bold, sometimes disruptive, ideas to get our medicines to patients, and relentlessly execute until it’s done.

ARENA – Care More. Act Differently.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include, without limitation, statements about Dr. Streck’s expected contributions, Arena’s position, drive, portfolio, prioritization, financial position, team, and building of the company. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena’s expectations. Factors that could cause actual results to differ materially from the forward-looking statements include those disclosed in Arena’s filings with the Securities and Exchange Commission. These forward-looking statements represent Arena’s judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

Corporate Contacts:

Patrick Malloy

Arena Pharmaceuticals, Inc.

Vice President, Investor Relations & Corporate Communications

[email protected]

847.987.4878

Megan E. Knight

Arena Pharmaceuticals, Inc.

Director, Investor Relations

[email protected]

858-210-3635

Arena Media Contact:

LavoieHealthScience

Katie Gallagher

[email protected]

617-792-3937

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Health General Health Clinical Trials Research Science Pharmaceutical Biotechnology

MEDIA:

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Analog Devices to Participate in Nasdaq’s 43rd Investor Conference

Analog Devices to Participate in Nasdaq’s 43rd Investor Conference

WILMINGTON, Mass.–(BUSINESS WIRE)–Analog Devices, Inc. (Nasdaq: ADI) today announced that the Company’s Chief Financial Officer, Prashanth Mahendra-Rajah, will speak at the NASDAQ 43rd Investor Conference on Tuesday, December 1, 2020 at 11:30 a.m. Eastern time.

The webcast for the conference may be accessed live via the Investor Relations section of Analog Devices’ website at investor.analog.com. An archived replay will also be available shortly following the webcast.

About Analog Devices, Inc.

Analog Devices (Nasdaq: ADI) is a leading global high-performance analog technology company dedicated to solving the toughest engineering challenges. We enable our customers to interpret the world around us by intelligently bridging the physical and digital with unmatched technologies that sense, measure, power, connect and interpret. Visit http://www.analog.com.

(ADI-WEB)

Michael Lucarelli

Senior Director of Investor Relations

Analog Devices, Inc.

781-461-3282

[email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Finance Hardware Banking Engineering Professional Services Technology Semiconductor Manufacturing

MEDIA:

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Neuronetics to Participate in the Piper Sandler 32nd Annual Virtual Healthcare Conference

MALVERN, Pa., Nov. 30, 2020 (GLOBE NEWSWIRE) — Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders, today announced that Keith Sullivan, President and Chief Executive Officer, and Steve Furlong, Chief Financial Officer, will participate in the Piper Sandler 32nd Annual Virtual Healthcare Conference on Wednesday, December 2, 2020.

A pre-recorded webcast of the conference presentation will be available online at the investor relations page of the Company’s website at ir.neuronetics.com. A replay of the webcast will be archived on the website for approximately 90 days.

About Neuronetics

Neuronetics, Inc. is a commercial-stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from psychiatric disorders. Its commercial product, the NeuroStar® Advanced Therapy System, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation, or TMS, to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The system is cleared by the United States Food and Drug Administration, or FDA, for the treatment of major depressive disorder in adult patients who have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode. NeuroStar is also available in other parts of the world, including Japan, where it is listed under Japan’s national health insurance. Additional information can be found at www.neuronetics.com.

Investor Contact:

Mark R. Klausner
Westwicke Partners
443-213-0501
[email protected]

Media Contact:

Meagan Dominic
Vault Communications
610-455-2779
[email protected]



Baudax Bio to Participate in the Piper Sandler 32nd Annual Healthcare Conference

MALVERN, Pa., Nov. 30, 2020 (GLOBE NEWSWIRE) — Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on therapeutics for acute care settings, today announced that Gerri Henwood, the Company’s President and Chief Executive Officer, will participate in the Piper Sandler 32nd Annual Virtual Healthcare Conference, being held virtually December 1-3, 2020. The company will conduct institutional investor meetings on December 2, 2020; meetings may be requested through Piper Sandler.

A pre-recorded fireside chat with Ms. Henwood is now available on the Piper Sandler conference site and on the “Events” page within the Investors section of the Baudax Bio website at https://www.baudaxbio.com/news-and-investors. The recording will be available for a period of 30 days following the event.

About Baudax Bio

Baudax Bio is a pharmaceutical company focused on therapeutics for acute care settings. The launch of Baudax Bio’s first commercial product ANJESO® began in June 2020 following its approval by the U.S. Food and Drug Administration in February 2020. ANJESO is a once daily IV NSAID with preferential COX-2 activity, which has successfully completed three Phase III clinical trials, including two pivotal efficacy trials, a large double-blind Phase III safety trial and other studies for the management of moderate to severe pain. In addition to ANJESO, Baudax has a pipeline of other pharmaceutical assets including two novel neuromuscular blocking agents (NMBAs) and a proprietary chemical reversal agent specific to these NMBAs which is currently in preclinical studies, and intranasal dexmedetomidine which is being developed for possible uses in pain or sedation. For more information please visit www.baudaxbio.com.

CONTACT:

Investor Relations Contact:

Argot Partners
Sam Martin / Claudia Styslinger
(212) 600-1902
[email protected]
[email protected]

Baudax Bio, Inc.

Ryan D. Lake
(484) 395-2436
[email protected]

Media Contact:

Argot Partners
David Rosen
(212) 600-1902
[email protected]



TTM Technologies, Inc. to Exhibit at the International Electronics Circuit Exhibition in Shenzhen, China

SANTA ANA, Calif., Nov. 30, 2020 (GLOBE NEWSWIRE) — TTM Technologies, Inc. (NASDAQ: TTMI) (“TTM”), a leading global printed circuit board (“PCB”) products and radio frequency (“RF”) components manufacturer, today announced participation at the 2020 International Electronics Circuit Exhibition (Shenzhen) at Booth 1L01. Themed “5G Era · Smart Future”, the Exhibition will be held from December 2nd-4th at the Shenzhen Convention and Exhibition Center in Shenzhen, China.

At this year’s event, TTM experts will be conducting a series of interactive customer presentations to highlight TTM’s innovative technical solutions to address customer challenges across diverse end markets and end-use applications. These sessions will include: “PCB Capability Update for Telecom & Networking Products”; “PCB Signal Integrity Engineering for 5G & Next Gen Networking”; and “PCB for ADAS Applications – Setting New Boundaries”.

COVID-19 presents unique challenges for this year’s show preventing many TTM customers and visitors from personally attending this important annual industry event. In response to these challenges, TTM will unveil its innovative beyond boundaries exhibition solution to accommodate all TTM booth visitors, including those unable to physically attend due to Covid-19 travel restrictions. Special sessions are being organized at TTM’s Hong Kong office during the exhibition periods. Customers and suppliers can join these networked events and experience TTM’s first ever beyond boundaries booth from Hong Kong.

“TTM is always innovating to meet the needs of our customers with differentiated and unique solutions. At this year’s show, we will provide our customers both an on-site and beyond boundaries exhibition experience to showcase new technologies and collaborate together on new innovative solutions to address their application challenges. We look forward to a great show and many productive customer visits whether in Shenzhen or Hong Kong,” said Kent Hardwick, Senior Vice President, Global Sales and EMS, TTM Technologies.

About International Electronics Circuit Exhibition (Shenzhen
)

Since it was first staged in 2002, the Exhibition, jointly organized by the Hong Kong Printed Circuit Association (HKPCA) and China Printed Circuit Association (CPCA), has grown year by year and evolved from a modest regional event into the PCB industry’s premier international platform for networking, information exchange, education, and keeping up with market trends and the latest innovations. Additional information can be found at www.hkpcashow.org.

About TTM
TTM Technologies, Inc. is a leading global printed circuit board manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs, backplane assemblies as well as a global designer and manufacturer of high-frequency radio frequency (RF) and microwave components and assemblies. TTM stands for time-to-market, representing how TTM’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttm.com.

Contacts:

Winnie Ng Sameer Desai
Vice President, Corporate Marketing Senior Director, Corporate Development & Investor Relations
TTM Technologies, Inc. TTM Technologies, Inc.
+852 2660 4287 / +1 714 327 3000 +1 714 327 3050
[email protected]  [email protected] 



CloudMD Reports Record Revenue of $3.4 Million in Q3 2020


Recent Acquisitions Driving Annualized Revenue Run Rate of $35 Million

  • Significant growth and expansion, announcing seven acquisitions during the quarter and adding approximately $19 million to revenue
  • Gross margin
    of
    42%
    as a result of
    higher margin verticals and increase in telehealth usage
  • Closed oversubscribed $2
    0.8
    million bought deal during
    Q3
    and $37.3 million bought deal subsequent
    to the
    quarter
  • Strong balance sheet with current c
    ash position
    of
    approximately
    $
    6
    0
    million
    ;
    fully
    -funded to continue
    executing
    on robust pipeline of acquisition target
    s
  • On track to achieve (i) annualized revenue run rate exceeding $35 million, (ii) gross margin exceeding 50%
    ,
    and (iii) improved
    A
    djusted EBITDA performance

VANCOUVER, British Columbia, Nov. 30, 2020 (GLOBE NEWSWIRE) — CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telehealth company revolutionizing the delivery of healthcare to patients, announced its financial results for the third quarter ending September 30, 2020. All financial information is presented in Canadian dollars unless otherwise indicated.

Dr. Essam Hamza, CEO of CloudMD commented, “I am very pleased with our third quarter results, which have provided us a strong foundation for continued aggressivegrowth. We are well-funded after raising almost $60 million over the last few months, which will allow us to deploy capital on a robust pipeline of acquisition targets. Based on our Q3 results, combined with recently completed and announced acquisitions, we currently have a solidannualized revenue run rate of $35 million; through planned accretive acquisitions and organic growth, we are confident that this run rate will continue to grow in 2021. We recently closeda number of key acquisitionsin Q4 including Snapclarity, iMD, Benchmark and Re:Function which will provide meaningful revenue and are fundamental to our new Enterprise Health Solutions Division. These acquisitions were transformational for us as we are now one of the only healthcare technology companies to provide comprehensiveprimary and specialist care, mental health support, and educational resources on our proprietary platforms to healthcare practitioners, patients and enterprise clients.We are extremely proud that CloudMD has positioned itself as a leader in this space. Our focus on engaging patients and empowering practitioners has created a transformational shift on how healthcare is delivered and proven to have better outcomes for all members involved. We’d like to thank our loyal shareholders and look forward to the next phase of this exciting journey.

Q3 2020 Financial Highlights

  • Q3 2020 total revenue was $3.4 million, compared to $2.2 million in Q3 2019, an increase of 55%. The revenue generated from Software-as-a-Service (“SaaS”) model digital services was $0.5 million compared to $0.4 million in Q3 2019, an increase of 22% primarily attributable to organic growth. The revenue generated from clinic services and pharmacies was $2.9 million compared to $1.8 million in Q3 2019, an increase of 62%.
  • Q3 2020 gross margin was 42%, compared to 46% in Q3 2019. Gross margin for the underlying businesses remained stable, and overall gross margin decreased due to the revenue mix. In the past year, the business acquisitions completed were primarily clinic services and pharmacies, which attracts a lower margin as compared to SaaS model digital services. Subsequent acquisitions have been more focused on SaaS model digital services and Enterprise Health Solutions which should have a positive impact on overall margins.
  • Net loss and comprehensive loss in Q3 2020 was $2.7 million or $0.02 per share, compared to $0.8 million or $0.01 per share in Q3 2019. In the quarter, the Company made strategic investments in numerous marketing initiatives to build awareness of the Company and its products and services, which it expects to result in strong future organic growth.
  • Adjusted EBITDA was a loss of $1.3 million for Q3 2020, compared to a loss of $0.1 million in Q3 2019. The Adjusted EBITDA calculation was refined in the quarter to adjust for costs related to financing, acquisitions and litigation including associated loss provisions, for management to better evaluate its cash operating performance. A complete definition and calculation are provided further below, and the calculation has been retroactively applied.
  • Cash and cash equivalents as at September 30, 2020 were $33.9 million.

Third Quarter Business Highlights

  • On August 5, 2020, the Company announced it closed the acquisition of South Surrey Medical Inc., an integrated medical clinic based in Metro Vancouver, BC.
  • On August 11, 2020, the Company appointed Patrick Lo, a leading expert on data protection and regulatory privacy matters for the healthcare sector in North America, as a Strategic Advisor.
  • On August 13, 2020, the Company signed a share purchase agreement to acquire majority interest in West Mississauga Medical Ltd., a comprehensive family medicine and specialist medical clinic.
  • On September 9, 2020, the Company announced it has appointed experienced healthcare executive, Karen Adams as Chief Health Innovation Officer.
  • On September 16, 2020, the Company announced it has appointed experienced industry leaders to its newly formed Chairman’s Advisory Board, all with records of building successful high growth organizations with an international outlook.
  • On September 22, 2020, the Company closed a $20.8 million oversubscribed, bought deal financing.

Highlights
Subsequent to
Third
Quarter

  • On October 8, 2020, the Company launched CloudMD on Demand, an online, virtual care service for companies, insurers and pharmacies to offer their customers easier, more convenient access to virtual telemedicine.
  • On October 15, 2020, the Company announced it has closed the acquisition of Snapclarity Inc., an on demand, digital platform that provides an assessment for mental health disorders which includes a personalized care plan, access to online resources, a clinical healthcare team and the ability to match to the right therapists.
  • On October 19, 2020, the Company announced it has appointed Mena Beshay to a newly created, more focused role of Global Head, Corporate Development, and Daniel Lee, an experienced capital markets and technology financial executive, as Chief Financial Officer. 
  • On October 21, 2020, the Company announced it has signed a binding term sheet to acquire Canadian Medical Directory, Canada’s largest, most trusted, directory of medical professionals including 91,000 practicing physicians and 10,000 residents and nurse practitioners across the country.
  • On October 22, 2020, the Company announced it has signed a binding term sheet to acquire Medical Confidence Inc., a revolutionary healthcare navigation platform with proven results in wait time reduction and patient satisfaction.
  • On October 26, 2020, the Company announced it has closed the acquisition of an 87.5% interest in Benchmark Systems Inc., a leading cloud-based provider of fully integrated solutions that automate healthcare workflow processes including revenue management, practice management and electronic records management.
  • On October 26, 2020, the Company announced it has closed the acquisition of a US-based medical clinic as part of a comprehensive strategy to provide end to end healthcare services for chronic care patients.
  • On October 28, 2020, the Company announced it has signed a binding term sheet to acquire HumanaCare Inc., an integrated, Employee Assistance Program (“EAP”) solution which provides holistic, physical and mental health support for employees and their family members.
  • On November 9, 2020, the Company announced that it closed a $37.3 million oversubscribed, bought deal financing.
  • On November 12, 2020, the Company launched a new Enterprise Health Solutions division, which provides a one-stop-shop for corporations, insurers and advisors to address the comprehensive health and wellness of their employees and their families.
  • On November 18, 2020, the Company announced it has closed the acquisition of iMD Health Group Corp., a novel award winning platform designed for healthcare professionals at every level of care to better engage, inform and educate patients about their conditions and treatment plans. 
  • On November 19, 2020, the Company announced that it has closed the acquisition of Re:Function Health Group Inc., a profitable rehabilitation clinic network of 8 clinics and 37 specialists and allied health professionals across British Columbia.

Outlook

The Company is focused on revolutionizing the healthcare industry by leveraging technology to digitalize its delivery to provide both better access to care which leads to better health outcomes. CloudMD has a strong balance sheet with approximately $60 million in cash, which will allow it to continue deploying capital on a robust pipeline of accretive, synergistic acquisitions. Subsequent to the quarter, the Company completed five strategic acquisitions which enhances its portfolio of SaaS model digital services and clinic services offering. The Company also announced another four acquisitions, primarily focused on its newly created Enterprise Health Solutions Division, which are expected to close by December 31, 2020.

CloudMD’s organic growth will be largely driven by its network of hybrid clinics, pharmacy partnerships, SaaS solutions and enterprise partnerships. Through its recent acquisitions, there are opportunities for cross-functional synergies and cross selling that will drive further organic growth.

With our Q3 2020 financial performance, combined with organic growth, and completed and announced acquisitions, CloudMD is on track to achieve (i) annualized revenue run rate exceeding $35 million, (ii) gross margin exceeding 50%, and (iii) improved Adjusted EBITDA performance.

CloudMD will continue to focus on delivering meaningful shareholder value by executing on its growth strategy through accretive acquisitions, strategic capital allocation and continuing to achieve organic growth across all divisions.

Selected Financial Information

All results were prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board.

    Three months ended     Nine months ended  
Select
ed
Financial Information
  September 30,     September 30,  
    2020     2019   (%)   2020     2019   (%)
Revenue $ 3,358,955   $ 2,165,217   55 % $ 9,205,671   $ 4,327,116   113 %
Physician fees   (1,086,731 )   (494,340 ) 120 %   (2,812,916 )   (1,677,598 ) 68 %
Cost of goods sold   (857,573 )   (671,929 ) 28 %   (2,552,531 )   (671,929 ) 280 %
Gross profit (1)   1,414,651     998,948   42 %   3,840,224     1,977,589   94 %
Gross profit %   42.1 %   46.1 %     41.7 %   45.7 %  
                     
Expenses   4,094,284     1,752,735   134 %   10,561,582     4,924,384   114 %
Loss before other items   (2,679,633 )   (753,787 ) 255 %   (6,721,358 )   (2,946,795 ) 128 %
Other items and taxes   (44,440 )   (55,888 ) -20 %   (393,826 )   (296,725 ) 33 %
Net and comprehensive loss   (2,724,073 )   (809,675 ) 236 %   (7,115,184 )   (3,243,520 ) 119 %
Loss per share, basic and diluted $ (0.02 ) $ (0.01 ) 100 % $ (0.02 ) $ (0.05 ) -66 %

(1)   Gross profit is a non-GAAP measure as described in the Non-GAAP Financial Measures section of this News Release.

    Three months ended     Nine months ended  
    September 30,     September 30,  
    2020     2019   (%)   2020     2019   (%)
Net loss for the period $ (2,724,073 ) $ (809,675 ) 236 % $ (7,115,184 ) $ (3,243,520 ) 119 %
Add:                    
Interest and accretion expense   63,001     49,841   26 %   189,557     152,555   24 %
Income taxes   18,964       100 %   18,964       100 %
Depreciation and amortization   262,128     134,373   95 %   673,468     249,305   170 %
EBITDA

(1)

for the period
  (2,379,980 )   (625,461 ) 281 %   (6,233,195 )   (2,841,660 ) 119 %
Stock-based compensation   558,603     459,934   21 %   1,507,930     1,225,841   23 %
Financing-related costs   245,123       100 %   504,637       100 %
Acquisition-related costs   191,380     29,083   558 %   308,899     108,093   186 %
Litigation costs and loss provision   63,154     482   12992 %   466,632     20,932   2129 %
Loss from discontinued operations         0 %       (22,967 ) -100 %
Adjusted EBITDA

(1)

for the period
$ (1,321,720 ) $ (135,962 ) 872 % $ (3,445,097 ) $ (1,509,761 ) 128 %

(1)   
EBITDA and Adjusted EBITDA
are
non-GAAP measure
s
as described in the Non-GAAP Financial Measures section of this News Release.
The calculation of Adjusted EBITDA has been amended this quarter to exclude financing-related costs, acquisition-related costs, litigation costs and loss provision, which are not operational in nature.

Financial Statements and Management’s Discussion and Analysis

This news release should be read in conjunction with the Company’s condensed interim consolidated financial statements and related notes, and management’s discussion and analysis for the three and nine months ended September 30, 2020 and 2019, copies of which can be found at www.sedar.com.

Non-GAAP Financial Measures

In addition to the results reported in accordance with IFRS, the Company uses various non-GAAP financial measures, which are not recognized under IFRS, as supplemental indicators of the Company’s operating performance and financial position. These non-GAAP financial measures are provided to enhance the user’s understanding of the Company’s historical and current financial performance and its prospects for the future. Management believes that these measures provide useful information in that they exclude amounts that are not indicative of the Company’s core operating results and ongoing operations and provide a more consistent basis for comparison between quarters and years. Details of such non-GAAP financial measures and how they are derived are provided below as well as in conjunction with the discussion of the financial information reported.

Since non-GAAP financial measures do not have any standardized meanings prescribed by IFRS, other companies may calculate these non-IFRS measures differently and our non-GAAP financial measures may not be comparable to similar titled measures of other companies. Accordingly, investors are cautioned not to place undue reliance on them and are also urged to read all IFRS accounting disclosures presented in the unaudited condensed interim consolidated financial statements and the accompanying notes for the three and nine months ended September 30, 2020 and 2019, and the consolidated financial statements and the accompanying notes for years ended December 31, 2019 and 2018.


EBITDA


EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. EBITDA referenced herein relates to earnings before interest, taxes, depreciation and amortization. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the cash operating income (loss) of the business. Please refer to section on EBITDA for reconciliation.


Adjusted EBITDA


Adjusted EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Adjusted EBITDA referenced herein relates to earnings before interest, taxes, depreciation, amortization, stock-based compensation, financing-related costs, acquisition-related costs, litigation costs and loss provision, and loss from discontinued operations. This measure does not have a comparable IFRS measure and is used by the Company to evaluate its cash operating income (loss) of the business, adjusted for factors that are unusual in nature or factors that are not indicative of the operating performance of the Company. Please refer to section on Adjusted EBITDA for reconciliation.


Gross Profit


Gross Profit is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Gross Profit referenced herein relates to revenues less physician fees and cost of goods sold. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the operating performance of the business.

About CloudMD Software & Services

CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.

ON BEHALF OF THE BOARD OF DIRECTORS

“Dr. Essam Hamza, MD”

Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:

Julia Becker

VP, Investor Relations

[email protected]

Forward Looking Statements

This news release contains forward-looking statements that are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans. Although CloudMD believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.



Quotient Limited Announces MosaiQ™ Expanded IH EU Field Trial Performance Data

JERSEY, Channel Islands, Nov. 30, 2020 (GLOBE NEWSWIRE) — Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company (the Company), today reported preliminary EU field trial performance data for its MosaiQ Expanded Immunohematology (IH) Microarray. The data suggest that tests performed with Quotient’s Microarray are highly accurate.

Expanded IH Microarray
Preliminary
Performance

To date in the EU field trial, over 4000 randomly selected human blood donor samples have been tested. The concordance data obtained through the study are as follows:

Antigen Type A B D C c E e K Cw
Concordance 100% 100% 99% 99% 99% 100% 100% 100% 100%
Antigen Type k Kpa Fyb Jka Jkb S Leb Antibody Screen
Concordance 100% 98% 98% 99% 96% 99% 99% 97%

The preliminary field trial data were obtained in testing laboratories using microarrays manufactured in Quotient’s ISO certified manufacturing facility in combination with the CE marked MosaiQ instrument.

The Company plans to make a CE mark submission for the Expanded IH microarray around year end. “We decided to seek two separate CE Marks – one covering all the tests included in the expanded IH menu and one with a more basic menu. This will allow us to respond more flexibly to individual tenders in Europe. We are on track to have the first powerful commercial combination, Expanded IH and Initial SDS, available for sale in Europe during the second quarter of calendar year 2021,” said Franz Walt, Chief Executive Officer of Quotient.

Quotient also reported that it expects to shortly begin a US field trial for the Expanded IH Microarray and that initial results from that trial are expected by mid-2021.

About Quotient Limited

Building on over 30 years of experience in transfusion diagnostics, Quotient is a commercial-stage diagnostics company committed to delivering solutions that reshape the way diagnostics is practiced. MosaiQ, Quotient’s proprietary multiplex microarray technology, offers the world’s first fully automated, consolidated testing platform, allowing for multiple tests across different modalities. MosaiQ is designed to be a game-changing solution, which Quotient believes will increase efficiencies, improve clinical practice, deliver significant workflow improvements, and create operational cost savings to laboratories around the world. Quotient’s operations are based in Eysins, Switzerland, Edinburgh, Scotland and Newtown, Pennsylvania.

Contact: Peter Buhler, Chief Financial Officer, [email protected]; +41 22 545 52 26



Travere Therapeutics Announces Completion of Patient Enrollment in Pivotal Phase 3 DUPLEX Study of Sparsentan in Focal Segmental Glomerulosclerosis

Topline data from interim 36-week proteinuria endpoint on track for first quarter of 2021

SAN DIEGO, Nov. 30, 2020 (GLOBE NEWSWIRE) — Travere Therapeutics (NASDAQ: TVTX) today announced completion of patient enrollment in the Phase 3 DUPLEX Study. The pivotal DUPLEX Study is evaluating the safety and efficacy of sparsentan for the treatment of focal segmental glomerulosclerosis (FSGS), a rare kidney condition that often leads to end-stage kidney disease (ESKD). Topline efficacy data from the interim 36-week proteinuria endpoint analysis are expected in the first quarter of 2021.

“Many people living with FSGS are unable to delay progression to end-stage kidney disease and ultimately face transplant or dialysis,” said Noah Rosenberg, M.D., chief medical officer of Travere Therapeutics. “New treatment options are desperately needed. By completing enrollment in the DUPLEX Study, we have achieved the next milestone on our path to potentially delivering sparsentan as the first therapy indicated for the treatment of FSGS. We are maintaining focus on high quality trial conduct over the course of the study and we look forward to reporting interim topline results in the first quarter of next year.”

The DUPLEX Study is a global, randomized, multicenter, double-blind, parallel-arm, active-controlled Phase 3 clinical trial of approximately 300 patients with FSGS. Patients are randomized to receive either sparsentan or irbesartan, the active control. The DUPLEX Study protocol provides for an unblinded analysis of at least 190 patients to be performed after 36 weeks of treatment to evaluate the interim efficacy endpoint – the proportion of patients achieving a FSGS partial remission of proteinuria endpoint (FPRE), which is defined as urine protein-to-creatinine ratio (Up/C) ≤1.5 g/g and a >40 percent reduction in Up/C from baseline, at Week 36. Successful achievement of the interim 36-week proteinuria endpoint is expected to serve as the basis for submission of a New Drug Application (NDA) under the Subpart H accelerated approval pathway in the U.S. and Conditional Marketing Authorization (CMA) consideration in Europe. The confirmatory endpoint of the study is the slope of estimated glomerular filtration rate (eGFR) from baseline to Week 108, in approximately 300 patients.

About Sparsentan

Sparsentan is an investigational product candidate in Phase 3 clinical development that has a dual mechanism of action combining endothelin type A receptor antagonism with angiotensin II receptor blockade. Travere Therapeutics is developing sparsentan for the treatment of FSGS and IgA nephropathy (IgAN), rare kidney disorders that often lead to ESKD. In several forms of chronic kidney disease, such as FSGS and IgAN, endothelin receptor blockade has been shown to have an additive beneficial effect on proteinuria in combination with renin-angiotensin blockade via angiotensin receptor blockers or angiotensin converting enzyme inhibitors. Sparsentan has been granted orphan drug designation for the treatment of FSGS by the FDA and European Commission.

The Phase 2 DUET Study of sparsentan in FSGS met its primary efficacy endpoint for the combined treatment group, demonstrating a greater than two-fold reduction in proteinuria compared to irbesartan, after the eight-week, double-blind treatment period. Irbesartan is part of a class of drugs used to manage FSGS and IgAN in the absence of an approved pharmacologic treatment. Travere Therapeutics is currently advancing the pivotal Phase 3 DUPLEX Study of sparsentan for the treatment of FSGS and continuing to enroll patients in the pivotal Phase 3 PROTECT Study of sparsentan for the treatment of IgAN (IgANprotect.com). Both studies contain 36-week proteinuria-based interim endpoints, which if successfully achieved, are expected to support submission of an NDA under the Subpart H accelerated approval pathway in the U.S. as well as an application for CMA consideration in Europe. If approved for both indications, sparsentan could potentially be the first medicine approved for FSGS and IgAN.

About Travere Therapeutics

At Travere Therapeutics we are in rare for life. We are a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent – that is why our global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, we continuously seek to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope – today and tomorrow. For more information, visit travere.com

Forward Looking Statements

This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, these statements are often identified by the words “may”, “might”, “believes”, “thinks”, “anticipates”, “plans”, “expects”, “intends” or similar expressions. In addition, expressions of our strategies, intentions or plans are also forward-looking statements. Such forward-looking statements include, but are not limited to, references to the Company’s current expectations around the timeline for reporting top-line data from the proteinuria endpoint in the DUPLEX study, expectations regarding potential regulatory submissions for sparsentan under the Subpart H accelerated approval pathway in the U.S. and CMA consideration in Europe, the Company’s path to potentially delivering sparsentan as the first therapy indicated for the treatment of FSGS and the potential future regulatory approval of sparsentan for FSGS and IgAN. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, success of its commercial products as well as risks and uncertainties associated with the Company’s preclinical and clinical stage pipeline. Specifically, the Company faces risks associated with market acceptance of its marketed products including efficacy, safety, price, reimbursement and benefit over competing therapies. The risks and uncertainties the Company faces with respect to its preclinical and clinical stage pipeline include risk that the Company’s clinical candidates will not be found to be safe or effective and that current or future clinical trials will not proceed as planned. Specifically, the Company faces the risk that the Phase 3 clinical trial of sparsentan in FSGS will not demonstrate that sparsentan is safe or effective or serve as a basis for accelerated approval of sparsentan as planned; risk that the Phase 3 clinical trial of sparsentan in IgAN will not demonstrate that sparsentan is safe or effective or serve as the basis for accelerated approval of sparsentan as planned; and risk that sparsentan will not be approved for efficacy, safety, regulatory or other reasons, and for each of the programs, risk associated with enrollment of clinical trials for rare diseases and risk that ongoing or planned clinical trials may not succeed or may be delayed for safety, regulatory or other reasons. Also, there is no guarantee that the positive results from the DUET Study of sparsentan in FSGS will be repeated in the currently ongoing Phase 3 DUPLEX study. The Company faces risk that it will be unable to raise additional funding that may be required to complete development of any or all of its product candidates; risk relating to the Company’s dependence on contractors for clinical drug supply and commercial manufacturing; uncertainties relating to patent protection and exclusivity periods and intellectual property rights of third parties; risks associated with regulatory interactions; risks and uncertainties relating to competitive products, including potential generic competition with certain of the Company’s products, and technological changes that may limit demand for the Company’s products. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond our control. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Investors are referred to the full discussion of risks and uncertainties as included in the Company’s most recent Form 10-K, Form 10-Q and other filings with the Securities and Exchange Commission.

Contact:
Chris Cline, CFA
Senior Vice President, Investor Relations & Corporate Communications
888-969-7879
[email protected]



Euroseas Ltd. Announces New Charters For Three Vessels And Conversion Of $1.875m Loan From Affiliate To Common Equity

ATHENS, Greece, Nov. 30, 2020 (GLOBE NEWSWIRE) — Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today the extension of the charter of its container vessels M/V “EM Astoria” and new time charter contracts for its container vessels M/V “Evridiki G” and M/V “Aegean Express”. Specifically:

  • M/V “EM Astoria”, a 2,778 teu vessel built in 2004, was extended for a period of between twelve and fourteen months in charterers’ option, at a daily rate of $18,650. The new rate will commence on December 15, 2020.
  • M/V “Evridiki G”, a 2,556 teu vessel built in 2001, entered into a new time charter contract for a period of between twelve and thirteen months in charterers’ option, at a daily rate of $15,500. The new rate will commence around December 5, 2020.
  • M/V “Aegean Express”, a 1,439 teu vessel built in 1997, entered into a new time charter contract for a period of between fifteen and sixteen months in charterers’ option, at a daily rate of $11,500. The new charter will commence on December 27, 2020.

Furthermore, the Company announced that COLBY TRADING LTD (“Colby”), an affiliate of Euroseas’ CEO, elected to convert into shares of common stock the outstanding amount of a loan it provided to the Company on September 30, 2019; the conversion price was the lowest closing price over the fifteen business days prior to the conversion notice as per the terms of the loan. As result of the conversion, Euroseas issued 702,247 shares to Colby for the outstanding loan amount of $1.875 million.

Aristides Pittas, Chairman and CEO of Euroseas commented
: “We are very pleased to announce the new charter arrangements for three of our vessels providing employment for longer than a year period for each of them. The three vessels are expected to make EBITDA contribution of about $7.5 million during 2021 under their new charters which would be more than four times their EBITDA contribution during the last twelve months.

“Both the rate of the charters – which is near the highest levels of the last ten years – and the duration of the contracts are indicative of the strength of the market during the recent months. If the present market levels continue and we are able to renew or replace the charters of the remaining of our vessels, as they expire, at similar levels, we should see a significant contribution to our earnings and profitability.

“While risks – both geopolitical and economic – abound, we are optimistic that the demand-supply balance in the containership market over the next couple of years will be supportive of strong charter rates. Our optimism is based on the fact that a very low fleet orderbook, the lowest in more than 20 years in percentage terms, is combined with increased expectations for control of the COVID-19 pandemic, economic recovery and healthy growth of containerized trade. The recent conversion of a loan from an affiliate of our main shareholders into equity is representative of the increased confidence in the prospects of the market and our company.”

About Euroseas Ltd.

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. 

Euroseas operates in the container shipping market. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. 

The Company has a fleet of 14 vessels, including 9 Feeder containerships and 5 Intermediate Container carriers. Euroseas 14 containerships have a cargo capacity of 42,281 teu.

Forward Looking Statement

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company’s growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. 

Visit our website www.euroseas.gr

Company Contact Investor Relations / Financial Media
Tasos Aslidis
Chief Financial Officer
Euroseas Ltd.
11 Canterbury Lane,
Watchung, NJ 07069
Tel. (908) 301-9091
E-mail: [email protected]
Nicolas Bornozis
President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, NY 10169
Tel. (212) 661-7566
E-mail: [email protected]