Market Newsdesk

OAK BROOK, Ill., July 27, 2023 (GLOBE NEWSWIRE) — Hub Group (Nasdaq: HUBG) announced today that it will expand its automotive industry capabilities to include intermodal services into all OEM manufacturing facilities. Through longstanding relationships with automotive manufacturers and Union Pacific Railroad, Hub Group’s focus on transporting parts inbound for manufacturing will bolster the company’s automotive offering and add competitive service options in the marketplace.

“We are extremely excited about the growth opportunity we have unlocked with our partner, Union Pacific, in the north-south corridor between Mexico, the U.S. and Canada, utilizing the Falcon Premium service product,” said Phillip Yeager, Hub Group’s President and Chief Executive Officer. “Hub Group continues to expand our capabilities and deliver service, integrity and innovation to our customers’ supply chains.”

Hub Group will operate utilizing its intermodal expertise and fleet of nearly 50,000 GPS-enabled intermodal 53’ containers, while leveraging northbound and southbound service including Falcon Premium and Eagle Premium through Union Pacific. The railroad’s new Falcon Premium service provides the fastest service from the U.S. and Mexico border to Chicago and Detroit – and most direct routing entirely by rail between Canada and Mexico.

“We are excited that Hub Group, a long-standing Union Pacific partner, will leverage their growing fleet with our improved premium service product to now serve all of North America’s automotive production facilities,” said Kenny Rocker, Union Pacific’s Executive Vice President of Marketing and Sales.

About Hub Group 
Hub Group offers comprehensive transportation and logistics management solutions. Keeping our customers’ needs in focus, Hub Group designs, continually optimizes, and applies industry-leading technology to our customers’ supply chains for better service, greater efficiency, and total visibility. As an award-winning, publicly traded company (Nasdaq: HUBG) with over $5 billion in revenue, our nearly 6,000 employees across the globe are always in pursuit of “The Way Ahead” – a commitment to service, integrity and innovation. For more information, visit hubgroup.com. 

Source: Hub Group Inc

Contact: Brian Meents 630-437-6256

 

• Received approval of landmark CleanVision Integrated Resource Plan (IRP) settlement agreement with Michigan stakeholders, ending DTE’s use of coal in 2032
• Continued progress with MIGreenPower program
• Invested heavily in infrastructure to improve reliability and generate more clean energy
• Named one of the top 50 most community-minded companies in the U.S. by Points of Light
• Partnered with Michigan Department of State to remove workforce barriers for Michiganders
• Planted over 4,300 trees during spring planting season with the Detroit Tree Equity Partnership, growing the benefits of a tree canopy in communities that need it most

DETROIT, July 27, 2023 (GLOBE NEWSWIRE) — DTE Energy (NYSE:DTE) today reported second quarter earnings of $201 million or $0.97 per diluted share, compared with $37 million, or $0.19 per diluted share in 2022.

Operating earnings for the second quarter 2023 were $206 million, or $0.99 per diluted share, compared with 2022 operating earnings of $171 million, or $0.88 per diluted share. Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. Reconciliations of reported earnings to operating earnings are included at the end of this news release.

DTE Energy recently reached a historic clean energy settlement agreement with stakeholders to transform energy generation and dramatically reduce carbon emissions.

“Our CleanVision Integrated Resource Plan outlines our investment in Michigan’s future and we are grateful to the 21 organizations from across Michigan for their diligent work on this settlement agreement,” said Jerry Norcia, DTE Energy chairman and CEO. “From ending the use of coal in 2032, to reducing future costs of our clean energy transformation by $2.5 billion, this plan is a roadmap to cleaner, more reliable and affordable energy for our customers.”

Norcia noted the following accomplishments:

• Landmark CleanVision IRP will end DTE’s use of coal in 2032 while developing enough Michigan-generated renewables to power approximately four million homes: This plan accelerates DTE’s decarbonization goals, further accelerating the full retirement of the Monroe Power Plant from 2035 to 2032. DTE Electric plans to achieve 85% CO2 emission reductions in nine years with a goal of net zero carbon emissions by 2050.
• Continued progress with MIGreenPower program:
  Dakkota Integrated Systems enrolled in MIGreenPower, DTE’s voluntary renewable energy program. The enrollment will attribute 100% of the electricity use at Dakkota’s Detroit location to DTE’s wind and solar parks, which has the environmental benefit equivalent to the carbon captured by more than 1,500 acres of forests annually.
• Invested heavily in utility infrastructure: DTE Electric invested $1.5 billion in the first half of the year on continued improvements in reliability and cleaner energy generation for its customers while DTE Gas invested nearly $350 million on infrastructure and main renewal improvements.
• Received Civic 50 award: For six years in a row, the hard work and dedication of DTE’s team members have resulted in Points of Light naming DTE one of the top 50 most community-minded companies in the United States with its Civic 50 Award. Projects like the Tree Trim Academy, License Restoration Clinics and Community Network were pivotal in earning this recognition.
• Facilitated driver’s license restorations: DTE has joined with the Michigan Department of State and other organizations to help Michiganders with driving license issues at in-person license restoration clinics across the state. The “Road to Restoration” has helped 7,500 Michiganders, trained 100 volunteer attorneys and enlisted 15 Michigan nonprofits to help. DTE volunteers help staff these clinics and our legal department helps guide people through the process.
• Improved Detroit urban tree numbers bringing the benefits of a tree canopy to more in the city: The Detroit Tree Equity Partnership (DTEP) planted over 4,300 trees during the spring planting season – over 1,200 more trees than the initial goal. DTEP also added new trainees to its crew while focusing on planting along commercial corridors, parks, vegetative buffers and blighted areas. Growing Detroit’s tree canopy in these targeted areas means lower street-level temperatures, reduced flooding risk and fewer respiratory ailments in these communities.

Outlook for 2023

DTE Energy reaffirms 2023 operating EPS guidance of $6.09 – $6.40.

“Our 2023 plan is on track as we continue to deliver for our team members, communities, customers and shareholders,” David Ruud, DTE executive vice president and CFO, said.

This earnings announcement and presentation slides are available at dteenergy.com/investors.

The company will conduct a conference call to discuss earnings results at 9:30 a.m. ET. Investors, the news media and the public may listen to a live internet broadcast of the call at dteenergy.com/investors. The telephone dial-in numbers in the U.S. and Canada are toll free: (888) 510-2008 or international: (646) 960-0306. The passcode is 4987588. The webcast will be archived on the DTE website at dteenergy.com/investors. An audio replay of the call will be available from noon today to Sunday, Aug 27, 2023. To access the replay, dial U.S. and Canada toll free (800) 770-2030 or international toll (647) 362-9199 and enter the passcode 4987588.

About DTE Energy

DTE Energy (NYSE:DTE) is a Detroit-based diversified energy Company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric Company serving 2.3 million customers in Southeast Michigan and a natural gas Company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on custom energy solutions, renewable energy generation and energy marketing and trading. Through our commitment to cleaner energy, DTE Electric plans to reduce CO2 emissions by 90% and DTE Gas will plan to reduce methane emissions 80% by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE Electric and Gas aspire to achieve net zero carbon emissions by 2050. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and facebook.com/dteenergy. 

Use of Operating Earnings Information – DTE Energy management believes that operating earnings provide a meaningful representation of the company’s earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. Operating earnings is a non-GAAP measure and should be viewed as a supplement and not a substitute for reported earnings, which represents the company’s net income and the most comparable GAAP measure.

In this release, DTE Energy discusses 2023 operating earnings guidance. It is likely that certain items that impact the company’s 2023 reported results will be excluded from operating results. Reconciliations to the comparable 2023 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items (i.e. future non-recurring items, certain mark-to-market adjustments and discontinued operations). These items may fluctuate significantly from period to period and may have a significant impact on reported earnings.

The information contained herein is as of the date of this document. DTE Energy expressly disclaims any current intention to update any contained in this document as a result of new information or future events or developments. Certain information presented herein includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, and businesses of DTE Energy. Words such as “anticipate,” “believe,” “expect,” “may,” “could,” “projected,” “aspiration,” “plans” and “goals” signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to numerous assumptions, risks and uncertainties that may cause actual future results to be materially different from those contemplated, projected, estimated, or budgeted.

Many factors may impact forward-looking statements including, but not limited to, the following: the impact of regulation by the EPA, EGLE, the FERC, the MPSC, the NRC, and for DTE Energy, the CFTC and CARB, as well as other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals, or new legislation, including legislative amendments and retail access programs; economic conditions and population changes in DTE Energy’s geographic area resulting in changes in demand, customer conservation, and thefts of electricity and, for DTE Energy, natural gas; the operational failure of electric or gas distribution systems or infrastructure; impact of volatility in prices in international steel markets and in prices of environmental attributes generated from renewable natural gas investments on the operations of DTE Vantage; the risk of a major safety incident; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; the cost of protecting assets and customer data against, or damage due to, cyber incidents and terrorism; health, safety, financial, environmental, and regulatory risks associated with ownership and operation of nuclear facilities; volatility in commodity markets, deviations in weather and related risks impacting the results of DTE Energy’s energy trading operations; changes in the cost and availability of coal and other raw materials, purchased power, and natural gas; advances in technology that produce power, store power or reduce power consumption; changes in the financial condition of significant customers and strategic partners; the potential for losses on investments, including nuclear decommissioning trust and benefit plan assets and the related increases in future expense and contributions; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; impacts of inflation and the timing and extent of changes in interest rates; the level of borrowings; the potential for increased costs or delays in completion of significant capital projects; changes in, and application of, federal, state, and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings, and audits; the effects of weather and other natural phenomena, including climate change, on operations and sales to customers, and purchases from suppliers; unplanned outages at our generation plants; employee relations and the impact of collective bargaining agreements; the availability, cost, coverage, and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of plant and distribution system performance; the effects of competition; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy, and other business issues; successful execution of new business development and future growth plans; contract disputes, binding arbitration, litigation, and related appeals; the ability of the electric and gas utilities to achieve net zero emissions goals; and the risks discussed in DTE Energy’s public filings with the Securities and Exchange Commission. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.

For more information, members of the media may contact:
Pete Ternes: 313.235.5555

For further information, analysts may call:

Barbara Tuckfield, DTE Energy, 313.235.1018
John Dermody, DTE Energy, 313.235.8750

DTE Energy Company
Segment Net Income (Unaudited)
	Three Months Ended June 30,
		2023																2022
	Reported Earnings				Pre-tax Adjustments				Income Taxes (1)				Operating Earnings				Reported Earnings				Pre-tax Adjustments				Income Taxes (1)				Operating Earnings
	(In millions)
DTE Electric	$	178			$	—			$	—			$	178			$	186			$	—			$	—			$	186
DTE Gas		24				—				—				24				6				—				—				6
Non-utility operations
DTE Vantage		26				—				—				26				28				—				—				28
Energy Trading		31				7	A			(2	)			36				(127	)			179	A			(45	)			7
Non-utility operations		57				7				(2	)			62				(99	)			179				(45	)			35
Corporate and Other		(58	)			—				—				(58	)			(56	)			—				—				(56	)
Net Income Attributable to DTE Energy Company	$	201			$	7			$	(2	)		$	206			$	37			$	179			$	(45	)		$	171
(1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments.
Adjustments key
A) Certain adjustments resulting from derivatives being marked-to-market without revaluing the underlying non-derivative contracts and assets — recorded in Operating Expenses — Fuel, purchased power, gas, and other — non-utility

DTE Energy Company
Segment Diluted Earnings Per Share (Unaudited) (2)
	Three Months Ended June 30,
		2023																2022
	Reported Earnings				Pre-tax Adjustments				Income Taxes (1)				Operating Earnings				Reported Earnings				Pre-tax Adjustments				Income Taxes (1)				Operating Earnings
DTE Electric	$	0.86			$	—			$	—			$	0.86			$	0.95			$	—			$	—			$	0.95
DTE Gas		0.12				—				—				0.12				0.03				—				—				0.03
Non-utility operations
DTE Vantage		0.12				—				—				0.12				0.15				—				—				0.15
Energy Trading		0.15				0.03	A			(0.01	)			0.17				(0.65	)			0.93	A			(0.24	)			0.04
Non-utility operations		0.27				0.03				(0.01	)			0.29				(0.50	)			0.93				(0.24	)			0.19
Corporate and Other		(0.28	)			—				—				(0.28	)			(0.29	)			—				—				(0.29	)
Net Income Attributable to DTE Energy Company	$	0.97			$	0.03			$	(0.01	)		$	0.99			$	0.19			$	0.93			$	(0.24	)		$	0.88
(1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments.
(2) Per share amounts are divided by Weighted Average Common Shares Outstanding — Diluted, as noted on the Consolidated Statements of Operations (Unaudited).
Adjustments key — see previous page

DTE Energy Company
Segment Net Income (Unaudited)
	Six Months Ended June 30,
		2023																		2022
	Reported Earnings				Pre-tax Adjustments					Income Taxes (1)					Operating Earnings				Reported Earnings				Pre-tax Adjustments				Income Taxes (1)				Operating Earnings
	(In millions)
DTE Electric	$	279			$	—				$	—				$	279			$	387			$	—			$	—			$	387
DTE Gas		195				—					—					195				202				—				—				202
Non-utility operations
DTE Vantage		53				—					—					53				42				—				—				42
Energy Trading		169				(213	)	A			54					10				(136	)			251	A			(63	)			52
Non-utility operations		222				(213	)				54					63				(94	)			251				(63	)			94
Corporate and Other		(50	)			—					(7	)	B			(57	)			(64	)			—				—				(64	)
Net Income Attributable to DTE Energy Company	$	646			$	(213	)			$	47				$	480			$	431			$	251			$	(63	)		$	619
(1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments.
Adjustments key
A) Certain adjustments resulting from derivatives being marked-to-market without revaluing the underlying non-derivative contracts and assets — recorded in Operating Expenses — Fuel, purchased power, gas, and other — non-utility
B) Adjustment to Income Tax Expense due to a tax law change in West Virginia

DTE Energy Company
Segment Diluted Earnings Per Share (Unaudited) (2)
	Six Months Ended June 30,
		2023																		2022
	Reported Earnings				Pre-tax Adjustments					Income Taxes (1)					Operating Earnings				Reported Earnings				Pre-tax Adjustments				Income Taxes (1)				Operating Earnings
DTE Electric	$	1.35			$	—				$	—				$	1.35			$	1.99			$	—			$	—			$	1.99
DTE Gas		0.95				—					—					0.95				1.04				—				—				1.04
Non-utility operations
DTE Vantage		0.25				—					—					0.25				0.22				—				—				0.22
Energy Trading		0.82				(1.04	)	A			0.26					0.04				(0.70	)			1.30	A			(0.33	)			0.27
Non-utility operations		1.07				(1.04	)				0.26					0.29				(0.48	)			1.30				(0.33	)			0.49
Corporate and Other		(0.24	)			—					(0.03	)	B			(0.27	)			(0.33	)			—				—				(0.33	)
Net Income Attributable to DTE Energy Company	$	3.13			$	(1.04	)			$	0.23				$	2.32			$	2.22			$	1.30			$	(0.33	)		$	3.19
(1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments.
(2) Per share amounts are divided by Weighted Average Common Shares Outstanding — Diluted, as noted on the Consolidated Statements of Operations (Unaudited).
Adjustments key — see previous page

Conduent to feature its AI-Powered DriveSafe

^®

Enforcement System used to encourage motorists to slow down in school zones

Conduent to also discuss a solution using mobile cameras mounted on school bus exteriors that will activate when bus lights flash and the “stop arm” extends

FLORHAM PARK, N.J., July 27, 2023 (GLOBE NEWSWIRE) — Conduent Transportation, a global provider of smart mobility technology solutions and business unit of Conduent Incorporated (Nasdaq: CNDT), will highlight technology solutions to make streets and communities safer for school children at next week’s Annual Summer Training Conference & Exposition, hosted by the Florida Police Chiefs Association and held July 28 to August 2 in Bonita Springs.

With more than 25 years of experience as an industry leader in traffic enforcement, Conduent’s exhibit (Booth #5) will feature technology and expertise that it uses to operate one out of every four U.S. public safety systems, including those designed to encourage motorists to slow down in school zones. Powered by AI, the Conduent DriveSafe^® Enforcement System uses sensors to detect and track vehicles through a particular location, such as in a school or construction zone or along a highway. The speed and position of each vehicle at that location is monitored to detect if a violation occurs, as determined by local laws.

Earlier this year, Florida enacted a new law authorizing its counties and municipalities to implement this type of camera-equipped detection system in and around schools to target vehicles traveling 10 mph or more over the posted speed limit. Independent studies, including one by the Insurance Institute for Highway Safety, show these programs can improve the safety of communities. Conduent provides the software, hardware and video analytics, as well as back-office operations, to make such programs successful.

Florida also enacted a new law enabling its school districts to mount camera systems on school bus exteriors that will activate when bus lights flash and the “stop arm” extends, signaling to other vehicles that they are not allowed to pass as a student is dropped off or picked up. In 2022, Conduent announced a partnership to develop and deliver this automated technology, which – when combining AI and computer vision – will capture violations if drivers do not stop as required.

Passing a school bus with its stop arm extended is illegal in every U.S. state. According to a recent survey conducted by the National Association of State Directors of Pupil Transportation Services, tens of millions of violations happen per year across America where vehicles pass school buses, creating an unsafe situation for children.

“This event is an excellent opportunity for our team to showcase our industry-leading technologies and demonstrated experience for public safety,” said Lou Keyes, President of Transportation Solutions at Conduent. “We can provide the tools and expertise communities in Florida need to improve safety in school and work zones and for school children.”

Conduent Transportation is a leading provider of automated and analytics-based smart mobility solutions for government agencies. These solutions, spanning roadway charging and management, parking and curbside management, and advanced transit and public safety systems, enable streamlined and personalized services for citizens and travelers who use them. The company has been helping transportation clients for more than 50 years and operates in more than 20 countries.

About Conduent

Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum — creating exceptional outcomes for its clients and the millions of people who count on them. The company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 60,000 associates, process expertise and advanced technologies, Conduent solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways, including delivering 43% of nutrition assistance payments in the U.S., enabling 1.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 12 million tolling transactions every day. Learn more at www.conduent.com.

Conduent Media Contact:

Neil Franz, +1-240-687-0127, [email protected]

Conduent Investor Relations Contact:

Giles Goodburn, +1-203-216-3546, [email protected]

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives, and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduenthttp://www.facebook.com/Conduent.

Trademarks

Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.

WINTER SPRINGS, Fla., July 27, 2023 (GLOBE NEWSWIRE) — IRADIMED CORPORATION (NASDAQ: IRMD) announced today that the Company will release its 2023 second quarter financial results before the market opens on Thursday, August 3^rd. Iradimed management will host a conference call the same day beginning at 11:00 a.m. Eastern Time to discuss those results and to answer questions.

Individuals interested in participating in the conference call may do so by registering here, https://register.vevent.com/register/BI5637da83c25e4c57a097826fce806954.
Once registered, a dial-in number, unique pin, and instructions will be provided to participants.

The conference call will also be available real-time via the internet at http://www.iradimed.com/en-us/investors/events/. A recording of the call will be available on the Company’s website following the completion of the call.

About IRADIMED CORPORATION

IRADIMED CORPORATION is a leader in the development of innovative magnetic resonance imaging (“MRI”) compatible medical devices. We are the only known provider of a non-magnetic intravenous (“IV”) infusion pump system that is specifically designed to be safe for use during MRI procedures. We were the first to develop an infusion delivery system that largely eliminates many of the dangers and problems present during MRI procedures. Standard infusion pumps contain magnetic and electronic components which can create radio frequency interference and are dangerous to operate in the presence of the powerful magnet that drives an MRI system. Our patented MRidium® MRI compatible IV infusion pump system has been designed with a non-magnetic ultrasonic motor, uniquely designed non-ferrous parts and other special features to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. Our pump solution provides a seamless approach that enables accurate, safe and dependable fluid delivery before, during and after an MRI scan, which is important to critically ill patients who cannot be removed from their vital medications, and children and infants who must generally be sedated to remain immobile during an MRI scan.

Our 3880 MRI compatible patient vital signs monitoring system has been designed with non-magnetic components and other special features to safely and accurately monitor a patient’s vital signs during various MRI procedures. The Iradimed 3880 system operates dependably in magnetic fields up to 30,000 gauss, which means it can operate virtually anywhere in the MRI scanner room. The Iradimed 3880 has a compact, lightweight design allowing it to travel with the patient from their critical care unit, to the MRI and back, resulting in increased patient safety through uninterrupted vital signs monitoring and decreasing the amount of time critically ill patients are away from critical care units. The features of the Iradimed 3880 include: wireless ECG with dynamic gradient filtering; wireless SpO2 using Masimo® algorithms; non-magnetic respiratory CO2; invasive and non-invasive blood pressure; patient temperature, and; optional advanced multi-gas anesthetic agent unit featuring continuous Minimum Alveolar Concentration measurements. The Iradimed 3880 MRI compatible patient vital signs monitoring system has an easy-to-use design and allows for the effective communication of patient vital signs information to clinicians.

Please visit www.iradimed.com for more information.  

Media Contact:
John Glenn
Chief Financial Officer
iRadimed Corporation
(407) 677-8022
[email protected]

ATLANTA, July 27, 2023 (GLOBE NEWSWIRE) — Femasys Inc. (NASDAQ: FEMY), a biomedical company focused on meeting women’s unmet needs worldwide by developing a suite of product candidates and products that include minimally invasive, in-office technologies for reproductive health, announced that the United States Patent and Trademark Office (“USPTO”) issued a Notice of Allowance for U.S. Patent Application 16/402,193 further strengthening Femasys’ intellectual property position and coverage for the Company’s therapeutic product candidate, FemBloc^® permanent birth control.

Femasys expects the resulting patent, when issued, will have an anticipated expiration in 2039 at the earliest. Femasys intends to continue to prosecute additional patent applications to further enhance its existing patent portfolio protecting FemBloc along with FemaSeed^® localized directional insemination for infertility treatment, representing the two lead product candidates of the Company, in addition to the Company’s existing available diagnostic products, FemVue^®, FemCath^®, and FemCerv^®.

“The allowance of claims for the FemBloc permanent birth control is another important milestone in protecting the commercial potential for this novel, non-surgical contraceptive option for women seeking a permanent birth control solution, which is expected to begin its pivotal clinical trial phase this quarter,” stated Kathy Lee-Sepsick, Femasys’ founder, president and chief executive officer. “Expansion of our patent portfolio, which consists of over 150 patents globally, demonstrates our strong commitment to protecting the innovation and commercial opportunity of FemBloc, as well as our entire suite of products for women seeking better and more accessible options.”

About FemBloc

FemBloc^® is a first-of-its-kind, nonsurgical, non-implant, in-office solution in its late-stage of clinical development for permanent birth control. It is intended to be a safer option for women estimated at approximately half the cost of the long-standing surgical alternative by eliminating the need for anesthesia, incisions, and permanent implants. FemBloc has the potential to offer women a convenient, accessible, and reliable option for those seeking permanent birth control. For over 100 years there has been stagnant innovation for permanent birth control which could lead to a $20 billion market expansion opportunity for FemBloc in the U.S. alone. For more information, visit www.FemBloc.com.

About Femasys

Femasys Inc. is a biomedical company focused on meeting women’s unmet needs worldwide by developing a suite of product candidates and products that include minimally invasive, in-office technologies for reproductive health. Its two lead product candidates in late-stage clinical development are FemBloc^® permanent birth control and FemaSeed^® localized directional insemination for infertility. The Company’s diagnostic products currently available in the United States, include FemVue^® for fallopian tube assessment by ultrasound, which can be used in conjunction with FemCath^®, an intrauterine catheter for selective fallopian tube evaluation, and FemCerv^®, an endocervical tissue sampler for cervical cancer diagnosis. FemaSeed, FemCerv, and FemCath have also received product approval in Canada. To learn more, visit www.Femasys.com or follow us on Twitter, Facebook and LinkedIn.

Forward-Looking Statements 

This press release contains forward-looking statements that are subject to substantial risks and uncertainties. Forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “pending,” “intend,” “believe,” “potential,” “hope,” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on our current expectations and are subject to inherent uncertainties, risks and assumptions, many of which are beyond our control, difficult to predict and could cause actual results to differ materially from what we expect. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ include, among others: our ability to develop and advance our current product candidates and programs into, and successfully initiate, enroll and complete, clinical trials; the ability of our clinical trials to demonstrate safety and effectiveness of our product candidates and other positive results; estimates regarding the total addressable market for our product candidates; our business model and strategic plans for our products, technologies and business, including our implementation thereof; and those other risks and uncertainties described in the section titled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2022 and other reports as filed with the SEC. Forward-looking statements contained in this press release are made as of this date, and Femasys undertakes no duty to update such information except as required under applicable law. 

Contacts:

Investors

Chuck Padala
LifeSci Advisors, LLC
+1-917-741-7792
[email protected]

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New Series of Engaging Events at Reborn Retail Locations in Partnership with Pet Rescue and Adoption Organizations

Upcoming Launch of the Flagship Pet-Friendly “Reborn Cafe N Pet Social”

BREA, Calif., July 27, 2023 (GLOBE NEWSWIRE) — Reborn Coffee, Inc. (NASDAQ: REBN) (“Reborn”, or the “Company”), a California-based retailer of specialty coffee, today announced a unique initiative to appeal to pet owners including a series of pet-focused events at selected Reborn locations and the launch of a flagship “Reborn Cafe N Pet Social” at the soon to be expanded Pasadena Playhouse location in the dog-friendly city of Pasadena, California.

Pet ownership has increased over 78% since the pandemic according to Forbes Advisor, with approximately 76.8 million dogs now living in households the United States. With many owners considering their pets as part of the family, the pet industry is now a $76.8 billion market in the U.S.

Reborn is joining forces with various respected pet organizations, including pet rescue and adoption groups such as the Pasadena Humane Organization, to create a series of events at selected Reborn Coffee locations. The lineup of events will provide unique opportunities for pet owners to connect, socialize, and participate in memorable activities with their companions. The events will foster a sense of community among pet owners and serve as a channel for promoting responsible pet ownership and adoption in Reborn’s local communities.

In addition, Reborn plans to launch a specialty “Reborn Cafe N Pet Social” in pet-friendly Pasadena, California. Pasadena has a high percentage of dog ownership and many restaurants and businesses that allow dogs. Anticipated to open in late 2023, the Pasadena location will feature an:

• Indoor seating for both pet owners and their furry friends, providing a cozy and welcoming environment for everyone to enjoy.
• A curated special pet supplies section, catering to the needs of your beloved pets and ensuring a delightful shopping experience.
• Various pet-related events add a touch of fun and excitement to your visits at our Pet Cafe.
• An outdoor patio, where you and your pets can bask in the beautiful weather while savoring our offerings.
• Snacks and water bowls are provided for pets and their owners to relax and socialize, making sure everyone feels at home
• Additionally, we are excited to announce that all Reborn locations will now allow pets in outdoor and patio spaces, making your coffee outings more enjoyable and inclusive.

“With many of our customers looking to enjoy our retail locations with their dogs, we recognized the growing need for dog-friendly venues where coffee enthusiasts and dog owners can come together,” said Jay Kim, Chief Executive Officer of Reborn. “To reinforce our appreciation of our dog-loving community, we are excited to sponsor a series of events that will endorse responsible dog ownership, highlight rescue groups and adoption, and support our communities. With our commitment to creating innovative, inclusive, and vibrant cafe spaces, we are also looking forward to the opening of our first dog-dedicated Reborn Cafe N Pet Social to meet the increasing demand of dog owners seeking welcoming venues. We believe a focus on dog owners and coffee enthusiasts will drive positive revenue, further elevating our position as a pioneering and customer-centric coffee brand.”

About Reborn Coffee

Reborn Coffee, Inc. (NASDAQ: REBN) is focused on serving high quality, specialty-roasted coffee at retail locations, kiosks, and cafes. Reborn is an innovative company that strives for constant improvement in the coffee experience through exploration of new technology and premier service, guided by traditional brewing techniques. Reborn believes they differentiate themselves from other coffee roasters through innovative techniques, including sourcing, washing, roasting, and brewing their coffee beans with a balance of precision and craft. For more information, please visit www.reborncoffee.com.

Forward-Looking Statements

All statements in this release that are not based on historical fact are “forward-looking statements.” While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our recent filings with the Securities and Exchange Commission (“SEC”) including our Form 10-Q for the first quarter of 2023, which can be found on the SEC’s website at www.sec.gov. Such risks, uncertainties, and other factors include, but are not limited to, the Company’s ability to continue as a going concern as indicated in an explanatory paragraph in the Company’s independent registered public accounting firm’s audit report as a result of recurring net losses, among other things, the Company’s ability to successfully open the additional locations described herein as planned or at all, the Company’s ability to expand its business both within and outside of California (including as it relates to increasing sales and growing Average Unit Volumes at our existing stores), the degree of customer loyalty to our stores and products, the impact of COVID-19 on consumer traffic and costs, the fluctuation of economic conditions, competition and inflation. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts

Investor Relations Contact:

Chris Tyson
Executive Vice President
MZ North America
[email protected]
949-491-8235

Company Contact:

Reborn Coffee, Inc.
[email protected]