Author: Newsdesk

REMINDER: Akers Biosciences Schedules Conference Call to Discuss Merger with MyMD Pharmaceuticals

BALTIMORE–(BUSINESS WIRE)–MyMD Pharmaceuticals, Inc. (“MyMD”) and Akers Biosciences, Inc. (“Akers”) (NASDAQ: AKER) jointly announced a definitive merger agreement last week. The companies plan to hold a video conference for investors on Wednesday, November 18, 2020 at 4:15 p.m. ET to provide additional context on the integrated company, the clinical pipeline and drug development plan, and the commercial potential of the targeted indications.

To participate in the briefing session, please click on the link below to register.

• Event Link: https://www.webcaster4.com/Webcast/Page/2584/38815
• Participant Dial In: Toll Free: 877-407-0778; International: 201-689-8565

About Akers Biosciences Inc.

Akers Biosciences is pursuing rapid development and manufacturing of a COVID-19 vaccine candidate in collaboration with Premas Biotech PVT Ltd.

About MyMD Pharmaceuticals, Inc:

MyMD is a clinical stage pharmaceutical company committed to extending healthy lifespan by focusing on developing two therapeutic platforms. MYMD-1 is a drug platform based on a clinical stage small molecule that regulates the immunometabolic system to control TNF-α and other pro-inflammatory cytokines. MYMD-1 is being developed to treat autoimmune diseases, including those currently treated with TNF-α blocking drugs, and aging and longevity. SUPERA-1R is a drug platform based on a novel (patent pending) synthetic derivative of cannabidiol (CBD) that targets numerous key receptors including CB2 and opioid receptors and inhibits monoamine oxidase. SUPERA-1R is being developed to address the rapidly growing CBD market, that includes FDA approved drugs and CBD products not currently regulated as a drug. For more information, visit www.mymd.com.

No Offer or Solicitation

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No public offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Important Additional Information Will be Filed with the SEC

In connection with the proposed transaction between Akers and MyMD, Akers intends to file relevant materials with the SEC, including a registration statement that will contain a proxy statement and prospectus. AKERS URGES INVESTORS AND STOCKHOLDERS TO READ THESE MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT AKERS, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and shareholders will be able to obtain free copies of the proxy statement, prospectus and other documents filed by Akers with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the proxy statement, prospectus and other documents filed by Akers with the SEC by contacting Investor Relations by mail at Akers Biosciences, Inc., Attn: Investor Relations, 201 Grove Road, West Deptford, NJ 08086. Investors and stockholders are urged to read the proxy statement, prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction.

Participants in the Solicitation

Akers and MyMD, and each of their respective directors and executive officers and certain of their other members of management and employees, may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about Akers’ directors and executive officers is included in Akers’ Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 25, 2020, as amended on October 21, 2020, and the proxy statement for Akers’ 2020 annual meeting of stockholders, filed with the SEC on July 29, 2020. Additional information regarding these persons and their interests in the transaction will be included in the proxy statement relating to the transaction when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this communication regarding matters that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, known as the PSLRA. These include statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future, and, therefore, you are cautioned not to place undue reliance on them. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Akers and MyMD undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. We use words such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “will,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “guidance,” and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions of the PSLRA. Such forward-looking statements are based on our expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors, including, but not limited to, risks relating to the completion of the merger, including the need for stockholder approval and the satisfaction of closing conditions; the cash balances of the combined company following the closing of the merger; the ability of Akers to remain listed on the Nasdaq Capital Market in connection with the merger; and expected merger-related cash outlays, including the timing and amount of those outlays. Risks and uncertainties related to MyMD that may cause actual results to differ materially from those expressed or implied in any forward-looking statement include, but are not limited to: the timing of, and MyMD’s ability to, obtain and maintain regulatory approvals for clinical trials of MyMD’s pharmaceutical candidates, the timing and results of MyMD’s planned clinical trials for its pharmaceutical candidates, the amount of funds MyMD requires for its pharmaceutical candidates; increased levels of competition; changes in political, economic or regulatory conditions generally and in the markets in which MyMD operates; MyMD’s ability to retain and attract senior management and other key employees; MyMD’s ability to quickly and effectively respond to new technological developments; MyMD’s ability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others and prevent others from infringing on MyMD’s proprietary rights; and the impact of the ongoing COVID-19 pandemic on MyMD’s results of operations, business plan and the global economy.

New factors emerge from time to time and it is not possible for us to predict all such factors, nor can we assess the impact of each such factor on the 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 statements. These risks, as well as other risks associated with the combination, will be more fully discussed in the proxy statement/prospectus that will be included in the registration statement that will be filed with the SEC in connection with the proposed transaction. Additional risks and uncertainties are identified and discussed in the “Risk Factors” section of Akers’ Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the SEC. Forward-looking statements included in this release are based on information available to Akers and MyMD as of the date of this release. Neither Akers nor MyMD undertakes any obligation to update such forward- looking statements to reflect events or circumstances after the date of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201118005280/en/

Investor Relations:

Hayden IR

Brett Mass, Managing Partner

Phone: (646) 536-7331

Email: [email protected]

www.haydenir.com

KEYWORDS: Maryland United States North America

INDUSTRY KEYWORDS: Clinical Trials Biotechnology Managed Care Health Pharmaceutical General Health Other Science Science Oncology

MEDIA:

Posted on November 18, 2020 8:03 am

Amwell to Participate in the 32nd Annual Piper Sandler Healthcare Conference

Amwell to Participate in the 32^nd Annual Piper Sandler Healthcare Conference

BOSTON–(BUSINESS WIRE)–Amwell^®, (NYSE: AMWL) (the “Company”) a national telehealth leader, today announced that Ido Schoenberg, Chairman and Co-Chief Executive Officer and Keith Anderson, Chief Financial Officer, will present at the 32^nd Annual Piper Sandler Virtual Healthcare Conference being held December 1-3, 2020. They are scheduled to participate in a fireside chat on December 3, 2020 at 1:00 p.m. EDT.

A live audio webcast and replay of this presentation will be available in the investors section of Amwell’s website at https://investors.amwell.com and will remain archived there for approximately 90 days.

About Amwell

Amwell is a leading telehealth platform in the United States and globally, connecting and enabling providers, insurers, patients, and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that digital care delivery will transform healthcare. The Company offers a single, comprehensive platform to support all telehealth needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With over a decade of experience, Amwell powers telehealth solutions for over 2,000 hospitals and 55 health plan partners with over 36,000 employers, covering over 80 million lives. For more information please visit https://business.amwell.com/.

American Well, Amwell, and Amwell Medical Group are registered trademarks or trademarks of American Well Corporation in the United States and other countries. All other trademarks used herein are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201118005227/en/

Media:

Holly Spring

[email protected]

781.888.8219

Investors:

[email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Technology Hospitals Other Technology Telecommunications Practice Management Other Health Health General Health Data Management

MEDIA:

Posted on November 18, 2020 8:03 am

Celanese Launches POM ECO-B as Mass-Balance Bio-Based Option for Existing Products

Celanese Launches POM ECO-B as Mass-Balance Bio-Based Option for Existing Products

Growing specialty materials portfolio addresses sustainable POM product options

DALLAS–(BUSINESS WIRE)–
Demand for materials with renewable content and lower environmental impact is growing across customer segments. Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today launched a sustainable polyacetal (POM) product offering known as POM ECO-B to support the growing demand.

POM ECO-B allows customers to realize reduction in carbon dioxide emission in their end-use products and advance toward their renewable content goals. Celanese believes that this offering has a strong value proposition for customers in the automotive, consumer products and medical device industries where footprint reduction or renewable content is important.

Celanese’s POM ECO-B contains up to 97% bio-content via a mass-balance approach as certified by the International Sustainability and Carbon Certification (ISCC+). It reduces carbon dioxide footprint per kilogram of POM polymer by more than half without any impact on properties or need for requalification.

“Celanese is committed to enhancing our specialty materials product offerings and capabilities through ongoing investments in sustainable product developments. Today’s launch of Celanese POM ECO-B is yet another example of our focus on developing functionalized grades that meet rigorous technical specifications while offering eco-friendly content options for customers,” said Tom Kelly, Senior Vice President, Engineered Materials, Celanese.

Product Availability & Contacts

To further discuss POM ECO-B, please reach out to a Celanese commercial representative via the following regional email contacts:

• Asia: [email protected]
• Europe: [email protected]
• Americas: [email protected]

For more information on product features and benefits, please visit the following website: https://www.celanese.com/engineered-materials/products/Hostaform-POM–Celcon-POM/hostaform-pom-eco-b.

For additional information regarding Celanese’s sustainability efforts and products, visit https://www.celanese.com/sustainability/.

About Celanese

Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese’s global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2019 net sales of $6.3 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.

Forward-Looking Statements: This release may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company or its customers will realize these benefits or that these expectations will prove correct. There are a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from the forward-looking statements contained in this release. Risk factors include those that are discussed in the Company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201118005355/en/

Investor Relations

Brandon Ayache

+1 972 443 8509

[email protected]

Media Relations – Global

W. Travis Jacobsen

+1 972 443 3750

[email protected]

Media Relations Europe (Germany)

Petra Czugler

+49 69 45009 1206

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Alternative Energy Manufacturing Energy Environment Chemicals/Plastics

MEDIA:

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VMware Announces Availability of Enterprise Blockchain Platform

PALO ALTO, Calif.–(BUSINESS WIRE)–
VMware, Inc. (NYSE: VMW) today announced the commercial availability of VMware Blockchain to provide a digital foundation that enterprises can trust to build business networks and deploy business-critical decentralized applications. With VMware Blockchain, businesses are provided an extensible and scalable enterprise-grade platform to unlock data silos and free up data to flow securely, privately and instantaneously.

Businesses run on data and workflows where shared sources of truth can create unrealized value, however complexities exist. Data is often siloed within enterprise boundaries, resulting in inefficient and costly steps to share and reconcile data across these boundaries. ​A trusted multi-party network is required in order to preserve integrity, enable privacy and to provide enterprise-grade resilience to a global ecosystem.

“We have been focused on building an enterprise-grade blockchain platform that meets the most stringent application requirements of the financial services industry and other mission-critical distributed workloads that require reliable and high-performance blockchain services,” said Brendon Howe, Vice President and General Manager, Blockchain, VMware. “VMware Blockchain delivers to customers the enterprise features they need for production today and the flexibility to adapt to future needs in the rapidly evolving blockchain space.”

Announced as a beta at VMworld 2018 Europe, VMware is bringing its industry-leading benefits to the VMware Blockchain platform to provide enterprise-grade capabilities such as: extensibility, security and privacy, performance, and scalability. Enterprises seek ecosystem friendly solutions that create a shared source of truth, and establish trust while maintaining privacy, making multi-party workflows far more efficient. Recognizing the importance of day-0 and day-2 operations to enable enterprises to bring their blockchain solutions to production, VMware provides a comprehensive set of operational capabilities, including ease of deployment, monitoring, management, upgradability, and world class support.

As enterprises rely on blockchain to handle multi-party transactions, a key factor in how well a blockchain platform performs and scales is the choice of the consensus mechanism deployed. VMware Blockchain’s Scalable Byzantine Fault Tolerance (SBFT), an enterprise-grade consensus engine developed internally by VMware Research, is designed to solve the problems of scale and performance in blockchain solutions while preserving fault-tolerance and defense against malicious attacks. SBFT maintains decentralized trust and supports ongoing governance in multi-party networks.

As the enterprise-grade platform for multi-party processes, VMware Blockchain brings a unique advantage of a layered architecture that decouples the ledger from the smart contract language. VMware Blockchain supports DAML, an open source smart contract language created by VMware Blockchain technology partner, Digital Asset. VMware Blockchain’s platform architecture includes a virtual smart contract execution engine that is designed to easily extend the platform to support additional smart contract languages.

A wave of building new critical infrastructure is underway for applications in financial services, manufacturing- and retail-driven supply chain, and healthcare industries that leverage blockchain technologies to help address the pain points experienced with disconnected, siloed systems. For financial services firms, blockchain technologies radically streamline and simplify operations, allowing banks, broker-dealers, payment processors, and other financial institutions to dramatically shorten processing times, reduce manual processing and duplicative messaging, and create new profit centers with features such as simultaneous trade clearing and settlement. VMware Blockchain is leading the way for financial services customers with partners including Accenture and Digital Asset.

“Our co-innovation with VMware on blockchain provides a new way of doing business that can benefit a number of industries,” said Yuval Rooz, co-founder and CEO of Digital Asset. “VMware Blockchain integrated with DAML smart contracts from Digital Asset provides privacy between participants in the same workflow. Now even competitors can collaborate on a distributed ledger with both trust and privacy.”

VMware and Digital Asset have also been partnering with highly innovative customers, including Broadridge Financial Solutions and Australian Securities Exchange (ASX), that require resilient enterprise-grade technology as their foundation.

A well-known global financial technology enterprise that processes trillions of dollars in transactions annually for thousands of counterparties, Broadridge Financial Solutions, recognized the need for an enterprise-grade blockchain platform to underpin its Distributed Ledger Technology Repurchase Agreement (DLT Repo) solution. “Broadridge is focused on developing blockchain-based solutions to transform capital market’s infrastructure, and help our clients gain operational efficiencies and create new opportunities,” said Horacio Barakat, Head of DLT Repo for Broadridge Financial Solutions. “VMware Blockchain provides a platform for us to model and enforce multi-party agreements on a Scalable Byzantine Fault Tolerant platform. This creates a single, shared and trusted, source of truth enabling the automation and digitization of repo processes, and reducing reconciliation efforts.”

As one of the world’s top 10 listed exchange groups, ASX executes millions of trades every month with hundreds of thousands of investors relying on its infrastructure. ASX required a new solution that would support increasing transaction volumes and enable secure data sharing that protects its customers’ privacy. “The combination of VMware Blockchain and Digital Asset’s expertise in smart contracts and distributed ledger technology is the right partnership to help us transform and modernize Australia’s financial market infrastructure,” said Dan Chesterman, chief information officer of ASX. “DLT can help financial services firms transform data, preserve privacy and confidentiality, and remove manual processes that exist in the industry.”

“By unlocking the real potential of data in our digital world, multiparty systems, supported by blockchain, are reshaping industries and transforming the way companies work together. It’s reshaping financial services, for example, by reimagining how transactions are executed, from payments to post-trade processing,” said David Treat, senior managing director, Global Blockchain and Multiparty Systems Lead, Accenture. “Leveraging the powerful technologies from VMware and Digital Asset, combined with Accenture’s deep industry expertise, we’re providing these capabilities so clients can expand into new products and services while also streamlining operations as they develop, manage and deploy complex multiparty workflows.”

Additional Resources

• Read more on today’s VMware Blockchain news at Office of the CTO Blog
• Learn more about VMware Blockchain at www.vmware.com/blockchain

About VMware

VMware software powers the world’s complex digital infrastructure. The company’s cloud, networking and security, and digital workspace offerings provide a dynamic and efficient digital foundation to customers globally, aided by an extensive ecosystem of partners. Headquartered in Palo Alto, California, VMware is committed to being a force for good, from its breakthrough innovations to its global impact. For more information, please visit https://www.vmware.com/company.html.

VMware and VMworld are registered trademarks or trademarks of VMware, Inc. or its subsidiaries in the United States and other jurisdictions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201118005398/en/

Stefanie Cannon

VMware Global Communications

Phone: +1 650 427 1828

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Data Management Security Technology Mobile/Wireless Software Networks Internet

MEDIA:

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CrowdStrike Integrates Intelligence Feeds and Automation Capabilities to Enhance Newly Introduced AWS Network Firewall

New integration streamlines incident response, providing a continuous line of defense from the network to the workload against threat actors regardless of the attack vector

SUNNYVALE, Calif.–(BUSINESS WIRE)–CrowdStrike Holdings, Inc. (Nasdaq: CRWD), a leader in cloud-delivered endpoint and workload protection, today announced it is a Launch Partner for AWS Network Firewall, a managed service that makes it easy to deploy essential network protections for all of a customer’s Amazon Virtual Private Clouds (Amazon VPCs). This integration enables customers to leverage the CrowdStrike Falcon® platform capabilities by extending threat intelligence and deployment automation for streamlined incident response and simplified operations. This development further deepens the technical collaboration between Amazon Web Services (AWS) and CrowdStrike, a pioneer of the security cloud, to offer customers enhanced solutions that protect workloads from the network to the endpoint.

An increasingly complex threat environment coupled with the widespread digital transformation that organizations have undergone has made it necessary to institute multi-layered risk-mitigation strategies to secure cloud workloads and endpoints. This latest integration from CrowdStrike for AWS allows organizations to implement a modern enterprise security approach where network-layer protection works in conjunction with cloud workload protection controls to defend against sophisticated threat activity. This allows customers to build a seamless line of defense across cloud workloads hosted in Amazon VPCs across multiple AWS accounts.

“Through our growing collaboration with AWS, CrowdStrike continues to meet the needs of today’s cloud-first businesses by providing critical security capabilities that leverage intelligence feeds, threat hunting, policy controls and streamlined incident management – all critical components of a robust cyber defense strategy,” said Michael Sentonas, CrowdStrike’s chief technology officer. “By integrating with AWS Network Firewall, we are enabling organizations to implement a holistic enterprise security strategy that provides comprehensive visibility, automation of policy and operations and shortened time to detection, from the network to the workload.”

“Organizations must deploy a multilayered security strategy in order to fortify their security posture against advanced threats from the multiple attack vectors that target their corporate networks,” said Andrew Thomas, general manager, Perimeter Protection, Amazon Web Services, Inc. “The integration of CrowdStrike Falcon intelligence feeds and automation capabilities for AWS Network Firewall advances protections for our joint customers across their AWS footprint, by providing a continuous line of defense from the network to the workload.”

The CrowdStrike Falcon integration with AWS Network Firewall offers customers the ability to export domain-based indicators of compromise (IoCs) identified through threat intelligence feeds from the CrowdStrike Falcon platform to block nefarious network activity related to malicious domains and domain-based exploitation techniques. As a result, customers can accelerate their incident response with dynamic policy creation that quickly blocks access to known compromised domains across their AWS footprint. The integration also enables users to proactively hunt for suspicious activity based on specific criteria, such as industry, threat actor or tactics, techniques and procedures (TTPs), across their Falcon managed hosts and AWS networks.

Capabilities for AWS Network Firewall:

● Dynamic Policy Creation: Leverage threat detections from the CrowdStrike Falcon platform to construct policies that secure AWS network traffic against known domain-based threats, based on industry vertical, a specific threat actor or exploitation techniques.

● Streamlined Incident Response: Create domain filtering policies based on alerts from Falcon managed hosts to secure an organization’s entire AWS footprint.

● Proactive Threat Hunting: Proactively hunt for threat activity across Falcon managed and unmanaged workloads in AWS accounts by creating firewall policies.

Amazon Linux 2 Ready designation

CrowdStrike, an AWS Advanced Technology Partner, has also achieved the Amazon Linux 2 Ready designation, part of the AWS Service Ready Program. This designation recognizes that the CrowdStrike Falcon platform has been validated to run on and support Amazon Linux 2. Shared customers can seamlessly deploy Falcon sensor and secure AWS workloads running on Linux 2 with Falcon Cloud Workload Protection product suite.

In addition to the integration for AWS Network Firewall, and the Amazon Linux 2 Ready designation, CrowdStrike recently announced expanded support for AWS Workloads and Container Deployments, including compute services AWS Graviton, Amazon Workspaces, Bottlerocket, and cloud services AWS PrivateLink and AWS Control Tower. CrowdStrike also introduced Falcon Horizon and Falcon for AWS, which provides cloud security posture management and cloud workload protection, an integration with Amazon GuardDuty, which protects against vulnerabilities, malicious activity, and unauthorized behavior, and participated in the launch of AWS Security Hub. CrowdStrike has also achieved AWS Security Competency status and is available in the AWS Marketplace.

To read more about CrowdStrike’s latest integrations for AWS, visit this blog.

For more information, see the AWS Network Firewall page.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the benefits of CrowdStrike’s collaboration and integration with AWS for organizations. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release.

You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About CrowdStrike

CrowdStrike Holdings, Inc. (Nasdaq: CRWD), a global cybersecurity leader, is redefining security for the cloud era with an endpoint and workload protection platform built from the ground up to stop breaches. The CrowdStrike Falcon® platform’s single lightweight-agent architecture leverages cloud-scale artificial intelligence (AI) and offers real-time protection and visibility across the enterprise, preventing attacks on endpoints and workloads on or off the network. Powered by the proprietary CrowdStrike Threat Graph®, CrowdStrike Falcon correlates 4 trillion endpoint-related events per week in real time from across the globe, fueling one of the world’s most advanced data platforms for security.

With CrowdStrike, customers benefit from better protection, better performance and immediate time-to-value delivered by the cloud-native Falcon platform.

There’s only one thing to remember about CrowdStrike: We stop breaches.

Qualifying organizations can gain full access to Falcon Prevent™ by starting a free trial.

Learn more: https://www.crowdstrike.com/

Follow us: Blog | Twitter

© 2020 CrowdStrike, Inc. All rights reserved. CrowdStrike, the falcon logo, CrowdStrike Falcon and CrowdStrike Threat Graph are marks owned by CrowdStrike, Inc. and registered with the United States Patent and Trademark Office, and in other countries. CrowdStrike owns other trademarks and service marks, and may use the brands of third parties to identify their products and services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201118005404/en/

CrowdStrike, Inc.

Ilina Cashiola, 202-340-0517

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Networks Internet Security Technology Software

MEDIA:

Posted on November 18, 2020 8:03 am

Kronos Bio Reports Recent Business Progress and Third Quarter 2020 Financial Results

Acquired from Gilead Sciences a portfolio of SYK inhibitors, including lead investigational therapy entospletinib being developed for frontline treatment of N
PM1-mutated acute myeloid leukemia

Expanded executive team and board of directors with hiring of COO and CFO and appointment of audit committee chair, respectively

Completed upsized initial public offering of common stock on October 14, 2020, raising $28
7.5 million in gross proceeds

SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 18, 2020 (GLOBE NEWSWIRE) — Kronos Bio, Inc. (Nasdaq: KRON), a company dedicated to transforming the lives of those affected by cancer, today reported recent business progress and third quarter 2020 financial results.

“Kronos Bio experienced transformational growth in 2020. With the acquisition of the portfolio of SYK inhibitors from Gilead Sciences, we are positioned to initiate late-stage clinical testing next year of our lead investigational therapy entospletinib in patients with newly diagnosed NPM1-mutated acute myeloid leukemia. Furthermore, in the first half of 2021, we plan to begin clinical testing of KB-0742, our CDK9 inhibitor, in patients with advanced solid tumors,” said Norbert Bischofberger, Ph.D., president and CEO. “We have expanded our leadership team and filled key roles across the organization. Additionally, with the completion of two financing rounds, including our upsized IPO, we are well-capitalized to execute on our mission to develop and deliver therapies that have the potential to change patients’ lives.”

Recent Highlights

• In July 2020, acquired Gilead Sciences’ portfolio of spleen tyrosine kinase (SYK) inhibitors, including entospletinib, which Kronos Bio is developing as a frontline treatment for patients with NPM1-mutated acute myeloid leukemia (AML).
• Expanded the company’s leadership team with the hiring of Barbara Kosacz, chief operating officer and general counsel, and Dr. Yasir Al-Wakeel, chief financial officer and head of corporate development, and appointed Elena Ridloff to the company’s Board of Directors as chair of the audit committee.
• In September 2020, closed a private financing round of approximately $155.2 million of convertible notes.
• In October 2020, completed an upsized initial public offering (IPO) of 15,131,579 of common stock, including full exercise of the underwriters’ option to purchase additional shares, resulting in gross proceeds of $287.5 million, before deducting underwriting discounts and commissions and offering expenses.
• In October 2020, published in Cell Chemical Biology the results of a preclinical study of KB-0742, the company’s potent oral, highly selective cyclin dependent kinase 9 (CDK9) inhibitor being developed to treat MYC-amplified solid tumors. These results were previously presented at the American Association for Cancer Research Virtual Annual Meeting II in June 2020.

Third Quarter Financial Highlights

• Cash, Cash Equivalents and Short-Term Investments: As of September 30, 2020, cash, cash equivalents and short-term investments totaled $211.3 million, which excludes approximately $263.9 million in net proceeds from the company’s October 2020 upsized IPO.

• R&D Expenses: Research and development expenses were $16.8 million for the third quarter of 2020, which includes $0.2 million in stock-based compensation expense.

• G&A Expenses: General and administrative expenses were $4.1 million for the third quarter of 2020, which includes $1.0 million in stock-based compensation expense.

• Net Loss: Net loss was $39.7 million, or $6.48 per basic and diluted share, for the quarter ended September 30, 2020. This includes a non-recurring $15.2 million non-cash change in fair value of convertible notes.

About Kronos Bio, Inc.

Kronos Bio is a clinical-stage biopharmaceutical company dedicated to discovering, developing and commercializing therapies that seek to transform the lives of those affected by cancer. The company focuses on targeting dysregulated transcription factors and the regulatory networks within cells that drive cancerous growth. Kronos Bio’s lead investigational therapy is entospletinib, a selective inhibitor targeting spleen tyrosine kinase (SYK) in development for the frontline treatment of NPM1-mutated acute myeloid leukemia (AML). The company is also developing KB-0742, an oral inhibitor of cyclin dependent kinase 9 (CDK9), for the treatment of MYC-amplified solid tumors.

Kronos Bio is based in San Mateo, Calif., and has a research facility in Cambridge, Mass. For more information, visit www.kronosbio.com or follow the company on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, implied and express statements regarding intentions, beliefs, projections, outlook analyses or current expectations concerning, among other things: our expectations about timing and execution of anticipated milestones, including planned IND submissions, initiation of clinical trials and the availability of clinical data from such trials; our cash forecasts; our expectations about our partners’ and collaborators’ ability to execute key initiatives; and the ability of our lead product candidates to treat the underlying causes of their respective targets. These forward looking statements may be accompanied by words such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “expect,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target” and other words of a similar meaning. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: the impact of COVID-19 on countries or regions in which we have operations or do business, as well as on the timing and anticipated results of our clinical trials, strategy and future operations; the delay of any current or planned clinical trials or the development of the Company’s drug candidates, including, but not limited to entospletinib and KB-0742; the risk that the results of our clinical trials may not be predictive of future results in connection with future clinical trials; the Company’s ability to successfully demonstrate the safety and efficacy of its drug candidates; the timing and outcome of the Company’s planned interactions with regulatory authorities; and obtaining, maintaining and protecting its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in the final prospectus dated October 9, 2020 and filed pursuant to Rule 424(b) under the Securities of 1933, as amended, with the Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in Kronos Bio’s subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Kronos Bio’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Kronos Bio explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Kronos Bio, Inc.

Statements of Operations and Comprehensive Loss

(in thousands, except share and per share amounts)
(Unaudited)

	Three months ended September 30,								Nine months ended September 30,
	2020				2019				2020				2019
Operating expenses:
Research and development	$	16,755			$	3,526			$	30,125			$	8,698
General and administrative	4,054				797				6,831				2,262
Total operating expenses	20,809				4,323				36,956				10,960
Loss from operations	(20,809		)		(4,323		)		(36,956		)		(10,960		)
Other income (expense), net:
Change in fair value of convertible notes payable	(15,215		)		—				(15,215		)		—
Interest expense	(3,889		)		(1		)		(3,890		)		(3		)
Interest and other income, net	200				311				774				311
Total other income (expense), net	(18,904		)		310				(18,331		)		308
Net loss	(39,713		)		(4,013		)		(55,287		)		(10,652		)
Other comprehensive income (loss):
Net unrealized gain (loss) on available-for-sale securities	(117		)		—				65				—
Net comprehensive loss	$	(39,830	)		$	(4,013	)		$	(55,222	)		$	(10,652	)
Net loss per share, basic and diluted	$	(6.48	)		$	(0.74	)		$	(9.39	)		$	(2.05	)
Weighted-average shares of common stock, basic and diluted	6,127,146				5,409,433				5,886,191				5,196,681

Kronos Bio, Inc.

Selected Balance Sheet Data

(in thousands, except share and per share amounts)
(Unaudited)

	September 30, 2020				December 31, 2019
Cash, cash equivalents and short-term investments	$	211,265			$	92,184
Total assets	262,556				102,686
Total liabilities	215,929				2,982
Convertible preferred stock	122,907				122,907
Total stockholders’ deficit	(76,280		)		(23,203		)

Contact:

Stephanie Yao
Executive Director, Investor Relations and Corporate Communications
650-525-6605
[email protected]