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TransUnion Research Finds Outdated Contact Data Negatively Impacts Customer Contactability, While Increasing Susceptibility to Compliance And Other Risks

Close to half of consumers maintain inactive email accounts and one in five changed mobile phone numbers in the past two years

CHICAGO, Aug. 02, 2023 (GLOBE NEWSWIRE) — TransUnion (NYSE: TRU) research featured in a newly released eBook shows outdated and changing customer contact data used across the omnichannel experience is a key factor in enterprises’ inability to reach customers.

Prior research showed close to 90% of business calls to consumers go unanswered and only one in five emails are opened. The challenge is largely due to enterprises calling inactive phone numbers, sending emails to blocked or inactive accounts and/or mailing to outdated physical addresses. As a result, many businesses are left with operational inefficiencies, reduced revenue, an increased susceptibility to compliance violation risk, and a poor customer experience.

“Enterprises have a lot of customer contact data, but what matters is the accuracy and quality of that information,” said Robert McKay, TransUnion senior vice president, TruContact Customer Contact Intelligence solutions. “By leveraging predictive intelligence on how, when and where to reach customers, our solutions provide enterprises with insights that help them strategically connect with customers efficiently and effectively — resulting in improved communication and overall engagement.”

As part of the research, TransUnion surveyed 1,510 U.S. adults to better understand how often they change their phone numbers, email addresses and physical addresses. The compete findings—including implications for financial institutions—are available in the eBook, “Can’t Find Your Customers? A Roadmap for Optimizing Connections.”

The TransUnion research indicates that among participants:

  • 63% have multiple email addresses;
  • 45% did not delete inactive email addresses within the past year
    • 64% of those with inactive accounts rarely or never log in to check those inactive accounts;
  • Younger generations are more likely to have given up inactive accounts, reflecting a changing attitude toward email;
  • 18% currently use email masking, a feature that allows users to protect their email from misuse;
  • 52% plan to use a feature to hide their email address;
  • 21.5% changed their mobile phone number within the past two years; and
  • Nearly one in five have moved in the past 12 months. Of those, 29% changed their email addresses and 41% changed their mobile phone numbers.

Ensuring customer contact data is fresh and active with the assistance of solutions like TransUnion’s TruContact™ Email Behavior Intelligence and TruContact™ Phone Behavior Intelligence can help drive an increase in right-party contact rates, customer engagement, and revenues. It can also supplement current efforts to reduce privacy, compliance and financial risks. Learn more about other TransUnion TruContact™ Customer Contact Solutions, powered by Neustar® here.

RESEARCH METHODOLOGY 
This online survey of 1,510 adults was conducted in March 2023, by TransUnion in partnership with third-party research provider, Dynata. Adults 18-65 years of age residing in the U.S. were surveyed using an online research panel method across a combination of desktop, mobile and tablet devices. Survey questions were administered in English. All states are represented in the study survey responses. To ensure general population sample representativeness across U.S. resident demographics, the survey included quotas to balance responses to the census statistics on the dimensions of age, gender, household income, race and region. Generations are defined as follows: Gen Z, born 1996-2004; millennials, born 1981-1995; Gen X, born 1966-1980; and baby boomers, born 1945-1965. These research results are unweighted and statistically significant at a 95% confidence level within ±2.2 percentage points based on calculated error margin. Please note some chart percentages may not add up to 100% due to rounding or multiple answers being accepted.

About TransUnion (NYSE: TRU) 

TransUnion is a global information and insights company with over 12,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business

Contact   Dave Blumberg
TransUnion
     
E-mail   [email protected]
     
Telephone   312-972-6646



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Seagen Second Quarter 2023 Financial Results Demonstrate Exceptional Commercial Performance Driving Record Product Sales with Strong Growth and Momentum

Seagen Second Quarter 2023 Financial Results Demonstrate Exceptional Commercial Performance Driving Record Product Sales with Strong Growth and Momentum

-Record Net Product Sales of $544 Million in 2Q23, an Increase of 26% Over 2Q22, Contributing to Total Revenues of $604 Million in 2Q23-

-Strong PADCEV® Growth Driven By Combination First-Line Advanced Urothelial Cancer Launch; Record ADCETRIS® Performance with Overall Survival Benefit Demonstrated in the ECHELON-1 Trial Added to Label-

-Three Registrational Trial Readouts for PADCEV, TUKYSA® and TIVDAK® Anticipated in 2H23-

-Initiated Phase 3 Trial for Disitamab Vedotin and Expect to Initiate Phase 3 Trial of SGN-B6A by Year End-

-Proposed Acquisition by Pfizer Progressing Towards Close in Late 2023 or Early 2024-

BOTHELL, Wash.–(BUSINESS WIRE)–
Seagen Inc. (Nasdaq:SGEN) (Seagen or the Company) reported financial results today for the second quarter ended June 30, 2023, highlighting record net product sales, with significant year-over-year growth of 26 percent.

David Epstein, Chief Executive Officer of Seagen said, “I am pleased to report an exceptional quarter with strong performance and growth seen across our commercial portfolio. We remain focused on optimizing the potential of our commercial portfolio, advancing our innovative pipeline of targeted therapies with ADCs at our core and innovating through next-generation technologies.” Highlights include:

  • PADCEV (enfortumab vedotin-ejfv) in combination with Keytruda® (pembrolizumab) received accelerated approval for first-line treatment of locally advanced or metastatic urothelial cancer in the U.S. and was added as a preferred regimen to NCCN treatment guidelines. The robust launch helped drive 36% net product sales growth for PADCEV over the first quarter of 2023;

  • ADCETRIS (brentuximab vedotin) net product sales grew sequentially for the last six quarters. The overall survival benefit demonstrated in the ECHELON-1 trial has now been included in the U.S. ADCETRIS label. Importantly, a phase 3 study of ADCETRIS with a modified chemotherapy regimen conducted by German Hodgkin Study Group demonstrated non-inferiority with an unprecedented 3-year progression-free survival of 94.9% compared to a more chemo-intensive international standard of care in advanced classical Hodgkin lymphoma, reinforcing the powerful impact this therapy has on patients’ lives;

  • TUKYSA (tucatinib) performed well in the quarter, demonstrating the critical role it has in the treatment of HER2-positive metastatic breast and colorectal cancer.

“I am particularly proud of our team’s execution, demonstrating our focus on our strategic priorities as we continue to deliver transformative therapies. In May, Seagen’s shareholders overwhelmingly supported the acquisition by Pfizer, which we believe will accelerate our ability to deliver transformative cancer medicines to more patients in need around the world,” concluded Epstein.

Roger Dansey, President of Research and Development and Chief Medical Officer, added, “For our marketed therapies we expect several important data readouts with congress presentations this year, potentially broadening their utility. We are prioritizing development of our most transformative pipeline assets, as demonstrated by the recently initiated phase 3 trial for disitamab vedotin in combination with pembrolizumab in previously untreated metastatic HER2-positive urothelial cancer and soon to be initiated phase 3 trial of SGN-B6A in previously treated, metastatic non-small cell lung cancer. We also expect to file at least three INDs for new medicines by the end of this year, including for multiple ADCs that utilize next-generation drug linkers and payloads, as we seek to develop future transformational medicines.”

PRODUCTS HIGHLIGHTS

PADCEV

  • Launched PADCEV with Keytruda for First-Line Treatment of Locally Advanced or Metastatic Urothelial Cancer (la/mUC) in the U.S.: In April 2023, Seagen, Astellas and Merck announced the FDA granted PADCEV (enfortumab vedotin-ejfv) with Keytruda (pembrolizumab) accelerated approval in the U.S. as a combination therapy for the treatment of adult patients with la/mUC who are not eligible to receive cisplatin-containing chemotherapy. It is the first treatment option combining an ADC with a PD-1 inhibitor in this patient population. Continued approval for this indication is contingent upon verification and description of clinical benefit in the EV-302 confirmatory trial.
  • The EV-302 Trial has Completed Patient Enrollment and Topline Results are Expected by the End of 2023: The trial enrolled patients regardless of their cisplatin-eligibility or PD-L1 expression and offers a platinum-free combination regimen. An extension study in China continues to enroll patients.
  • NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®) for Bladder Cancer Updated to Include PADCEV and Keytruda Combination as Preferred Regimen: In April 2023, based on the results of the EV-103 trial, the NCCN Guidelines were updated to include PADCEV with Keytruda as a Preferred Regimen (Category 2A) for first-line therapy for patients with la/mUC who are not eligible to receive cisplatin-containing chemotherapy.
  • Data Presented in Earlier Stages of Disease for Muscle-Invasive and Non-Muscle Invasive Forms of Bladder Cancer and in First-Line la/mUC at the American Society of Clinical Oncology (ASCO) Annual Meeting: In June 2023, presentations included long-term follow-up data from the EV-103 trial dose-escalation/Cohort A, which is evaluating PADCEV in combination with pembrolizumab as first-line treatment in patients with locally advanced or metastatic urothelial carcinoma who are ineligible to receive cisplatin-based chemotherapy, demonstrated a manageable safety profile after approximately 4 years of follow-up and clinically meaningful efficacy with a median survival exceeding 2 years.

ADCETRIS

  • Label Updated with Overall Survival Benefit Demonstrated in the Phase 3 ECHELON-1 Trial: In June 2023, the U.S. Prescribing Information for ADCETRIS was updated to include six-year overall survival results from the phase 3 ECHELON-1 clinical trial of ADCETRIS plus combination chemotherapy in patients with previously untreated Stage III or IV classical Hodgkin lymphoma compared to chemotherapy alone. The update was based on statistically significant 41% reduction in risk of death versus the previous standard of care in patients with frontline advanced classical Hodgkin lymphoma.
  • Combination Regimen Data from Multiple Clinical Trials Presented at the International Conference on Malignant Lymphoma: In June 2023, updated results from Part C of a phase 2 single-arm trial (SGN35-027) evaluating the ADCETRIS in combination with the PD-1 inhibitor nivolumab and standard chemotherapy agents doxorubicin and dacarbazine (AN+AD) for the frontline treatment of patients with early-stage classical Hodgkin lymphoma showed a high overall response rate of 98% and a 93% complete response rate. The regimen was well tolerated, with the most frequently reported treatment-related adverse events of any grade occurring in more than 30 percent of patients being nausea (65%), peripheral sensory neuropathy (47%) and fatigue (44%). Separately, a phase 3 trial, called HD21, from the clinical research cooperative German Hodgkin Study Group was presented. The results demonstrated that ADCETRIS with a modified chemotherapy regimen showed non-inferiority with unprecedented 3-year progression free survival of 94.9% versus a less tolerable international standard of care in advanced classical Hodgkin lymphoma. The 12-month post-treatment safety data were consistent with previously presented HD21 data results at the American Society of Hematology 2022 Annual Meeting.

TUKYSA

  • Data Presented in HER2-positive Biliary Tract Cancer at the ASCO Annual Meeting: In June 2023, data were presented from a phase 2 basket study of TUKYSA and trastuzumab in previously treated HER2-positive metastatic biliary tract cancer. The combination had clinically meaningful antitumor activity with a confirmed objective response rate of 46.7% and a median duration of response of 6.0 months. The combination was well tolerated, with the most common treatment-emergent adverse events being pyrexia (43.3%) and diarrhea (40.0%).
  • Topline Results for Phase 3 HER2CLIMB-02 Clinical Trial Expected in 3Q23: The Company expects to report topline results of the phase 3 HER2CLIMB-02 clinical trial evaluating TUKYSA versus placebo, in combination with Kadcyla® (ado-trastuzumab emtansine), for patients with locally advanced or metastatic HER2-positive breast cancer, including those with brain metastases.

TIVDAK

  • Data Presented from innovaTV 207 Trial in Solid Tumors at the American Association for Cancer Research (AACR) Annual Meeting: In April 2023, data were presented from an interim analysis of Part C from the innovaTV 207 phase 2 study of TIVDAK (tisotumab vedotin-tftv) given every 2 weeks in patients with recurrent or metastatic squamous cell carcinoma of the head and neck who have progressed on or after prior platinum combination, immunotherapy and targeted therapy, if eligible. Preliminary data based on the first 15 patients demonstrated encouraging antitumor activity with a confirmed overall response rate of 40% and a manageable safety profile.
  • Topline Results for Phase 3 innovaTV 301 Clinical Trial Anticipated As Early As YE23: The Company expects to report topline results of the phase 3 innovaTV 301 clinical trial evaluating TIVDAK monotherapy versus investigator choice chemotherapy for patients with second- or third-line recurrent or metastatic cervical cancer.

PIPELINE PROGRAMS

  • Initiated a Phase 3 trial for Disitamab Vedotin for Patients with HER2-Positive, Metastatic Urothelial Cancer: We initiated a phase 3 trial evaluating disitamab vedotin in combination with pembrolizumab versus chemotherapy in patients with previously untreated locally advanced or metastatic HER2-positive urothelial cancer in the third quarter of 2023.
  • Planned Initiation of a Phase 3 trial for SGN-B6A for Patients with Metastatic Non-Small Cell Lung Cancer: We plan to initiate a phase 3 trial evaluating SGN-B6A monotherapy compared to standard of care, docetaxel, in patients with previously treated non-small cell lung cancer in the fourth quarter of 2023.
  • Multiple Abstracts on Early-Stage Pipeline Presented at the AACR and ASCO Annual Meetings: Early-stage pipeline data presented at AACR included clinical, preclinical and discovery research programs. The first clinical data was presented for SEA-TGT that demonstrated a manageable and tolerable safety profile with initial monotherapy antitumor activity in solid tumors and lymphomas. In addition, data on multiple new ADC technologies were presented. These included the first preclinical data from Seagen and Sanofi for a novel topoisomerase I inhibitor ADC targeting CEACAM5, which demonstrated potent antitumor activity in patient-derived colorectal cancer models. Early-stage pipeline data presented at ASCO included updated phase 1 data for SGN-B6A, a wholly-owned, first-in-class vedotin ADC directed to integrin beta-6, a novel target that is highly expressed in multiple solid tumors.

For additional information on Seagen’s pipeline, visit www.seagen.com/science/pipeline.

CORPORATE HIGHLIGHT

  • Seagen Stockholders Approve Acquisition by Pfizer: In May 2023, at a special meeting, Seagen stockholders voted to approve a proposal to adopt the previously announced merger agreement under which Pfizer will acquire Seagen for $229 per share in cash. More than 99% of the shares that were voted at the meeting, representing approximately 88% of the shares of Seagen common stock issued and outstanding as of the record date for the special meeting, were voted in favor of the proposal to adopt the merger agreement. Subject to the fulfillment of customary closing conditions, including receipt of required regulatory approvals, the acquisition is expected to close in late 2023 or early 2024.

SECOND QUARTER AND SIX-MONTHS 2023 FINANCIAL RESULTS

Revenues: Total revenues for the second quarter and six months ended June 30, 2023 were $604 million and $1.1 billion, respectively, compared to $498 million and $924 million for the same periods in 2022, primarily driven by growth in net product sales.

Revenues included the following components:

 

Three months ended June 30,

Six months ended June 30,

(dollars in millions)

2023

2022

% Change

2023

2022

% Change

Total Net Product Sales

$

544

$

432

26

%

$

1,013

$

815

24

%

ADCETRIS

$

262

$

202

30

%

$

505

$

383

32

%

PADCEV

$

161

$

124

30

%

$

280

$

224

25

%

TUKYSA

$

99

$

89

11

%

$

187

$

179

4

%

TIVDAK

$

22

$

17

26

%

$

41

$

29

44

%

Royalty Revenues

$

51

$

39

31

%

$

81

$

67

21

%

Collaboration and License Agreement Revenues

$

9

$

27

(68

)%

$

30

$

42

(29

)%

Note: Sum of product sales may not equal total net product sales due to rounding. Percent change reflects actual (unrounded) values.
  • Net Product Sales: The increases in net product sales for the second quarter and year-to-date of 2023 compared to the same periods in 2022 were driven by continued commercial execution. ADCETRIS performance was primarily attributed to volume growth, driven by greater use in frontline advanced Hodgkin lymphoma. PADCEV growth was driven by use as first-line treatment for locally advanced or metastatic urothelial cancer following its approval for this indication in April 2023. Of note, PADCEV sales in the second quarter of 2022 included $19 million in sales to another company for a clinical trial they are conducting, while no such sales were booked in the second quarter of 2023. TUKYSA performance reflects the important role it serves in the treatment of HER2-positivive metastatic breast cancer, competitive dynamics in this setting as well as early contributions from its colorectal cancer indication. TIVDAK growth reflects continued uptake in its current indication.
  • Royalty Revenues: Royalty revenues were primarily driven by sales of ADCETRIS outside the U.S. and Canada by Takeda as well as royalties from sales of Polivy® (polatuzumab vedotin) by Roche, which is an ADC that uses Seagen technology.
  • Collaboration and License Agreement Revenues: The decrease in collaboration and license agreement revenues was primarily driven by a prior period milestone payment and decreased revenues from drug product supplied to collaborators.

Cost of Sales: Cost of sales for the second quarter and year-to-date in 2023 were $181 million and $293 million, respectively, compared to $106 million and $194 million for the same periods in 2022. The increases reflect higher sales of our medicines and the related gross profit share amounts owed to collaboration partners, which were $82 million and $146 million in the second quarter and year-to-date in 2023, respectively, compared to $66 million and $118 million for the same periods in 2022. Cost of sales also reflects amortization of TUKYSA acquired in-process technology costs, third-party royalties owed for PADCEV and TUKYSA net product sales, and cost of products sold. The second quarter of 2023 cost of sales included a $47 million inventory write-off related to in-process production of one of our products that did not meet a release specification that was updated in June 2023. This inventory adjustment and new release specification are not expected to impact availability of product supply required to meet current or future demand.

Research and Development (R&D) Expenses: R&D expenses for the second quarter and year-to-date in 2023 were $400 million and $756 million, respectively, compared to $304 million and $602 million for the same periods in 2022 reflecting continued investment in clinical development of the Company’s approved drugs and pipeline programs.

Selling, General and Administrative (SG&A) Expenses: SG&A expenses for the second quarter and year-to-date in 2023 were $244 million and $480 million, respectively, compared to $220 million and $394 million for the same periods in 2022. The increase 2023 were driven by ongoing commercialization efforts, as well as $36 million in expenses year-to-date associated with the pending acquisition by Pfizer and other corporate activities.

Non-cash, share-based compensation expense for the six months ended June 30, 2023 was $157 million, compared to $98 million for the same period in 2022.

Net Loss: Net loss for the second quarter of 2023 was $212 million, or $1.13 per diluted share, and net loss for the year-to-date of 2023 was $386 million, or $2.06 per diluted share.

Net loss for the second quarter of 2022 was $135 million, or $0.73 per diluted share, and net loss for the year-to-date of 2022 was $271 million, or $1.48 per diluted share.

Cash and Investments: As of June 30, 2023, Seagen had $1.3 billion in cash and investments.

CONFERENCE CALL

Given the pending acquisition of Seagen by Pfizer, Seagen is no longer providing financial guidance for 2023 and will not be hosting its quarterly conference call and does not expect to do so for future quarters. Earnings materials are available publicly on the Investor Relations page of our website at investor.seagen.com. Please direct any questions to Seagen Investor Relations at the contact information below.

About Seagen

Founded 25 years ago, Seagen Inc. is a global biotechnology company that discovers, develops, manufactures, and commercializes targeted cancer therapeutics, with antibody-drug conjugates (ADCs) at our core. Our colleagues work together with urgency to improve and extend the lives of people living with cancer. An ADC technology trailblazer, approximately one-third of FDA-approved and marketed ADCs use Seagen technology. Seagen is headquartered in Bothell, Washington and has locations in California, Canada, Switzerland and across Europe. For additional information, visit www.seagen.com and follow us on Twitter and LinkedIn.

Forward-Looking Statements

Certain of the statements made in this press release are forward looking, such as those, among others, relating to Pfizer’s proposed acquisition of the Company; the anticipated timing of completion of the proposed acquisition; the Company’s potential to achieve the noted development and regulatory milestones in 2023, in future periods or at all; the Company’s pipeline and technologies; anticipated activities related to the Company’s planned and ongoing clinical trials, including the timing of topline results; the potential for the Company’s clinical trials to support further development, regulatory submissions and potential marketing approvals in the U.S. and in other countries; the potential for the EV-302 clinical trial to serve as a confirmatory trial to support the continued approval of PADCEV in its first-line la/mUC indication; the opportunities for, and the therapeutic and commercial potential of ADCETRIS, PADCEV, TUKYSA, TIVDAK, the Company’s product candidates and the products and product candidates of its licensees and collaborators; plans with respect to regulatory submissions; as well as other statements that are not historical fact. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include without limitation: risks related to the satisfaction or waiver of the conditions to closing the proposed acquisition (including the failure to obtain necessary regulatory approvals) in the anticipated timeframe or at all, including the possibility that the proposed acquisition does not close; disruption from the transaction making it more difficult to maintain business and operational relationships; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition or Seagen’s business; risks related to the financing of the transaction; the risks that the Company’s ADCETRIS, PADCEV, TUKYSA and TIVDAK net sales, revenues, expenses, costs, and other financial guidance may not be as expected; risks and uncertainties associated with maintaining or increasing sales of ADCETRIS, PADCEV, TUKYSA and TIVDAK due to competition, adverse events, regulatory action, reimbursement, market adoption by physicians, drug pricing reform, impacts associated with COVID-19 or other factors; the risk that the Company or its collaborators may be delayed or unsuccessful in planned clinical trial initiations, enrollment in and conduct of clinical trials, obtaining data from clinical trials, planned regulatory submissions, and regulatory approvals in the U.S. and in other countries in each case for a variety of reasons including the difficulty and uncertainty of pharmaceutical product development, negative or disappointing clinical trial results, unexpected adverse events or regulatory actions and the inherent uncertainty associated with the regulatory approval process; the possibility that the Company may encounter challenges in commercializing its therapeutic agents, including with respect to reimbursement, compliance, operational or other matters; the possibility of delays or setbacks in obtaining pricing and reimbursement approvals or otherwise commercializing PADCEV and TUKYSA in Europe and other jurisdictions; risks relating to the Company’s collaboration agreements and its ability to achieve progress dependent milestones thereunder; risks related to the COVID-19 pandemic and resulting economic, financial and healthcare system disruptions; risks associated with the ongoing military conflict between Russia and Ukraine, related sanctions imposed against Russia, and related economic, financial and geopolitical disruptions; other business effects and uncertainties, including the effects of industry, market, business, economic, political or regulatory conditions; future exchange and interest rates; and changes in laws, regulations, rates and policies. More information about the risks and uncertainties faced by the Company is contained under the caption “Risk Factors” included in the Company’s Annual Report on Form 10-Q for the quarter ended March 31, 2023 and the Company’s subsequent periodic reports filed with the Securities and Exchange Commission. Seagen disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable law.

Seagen Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In thousands, except per share amounts)
 

 

Three Months Ended June 30,

Six Months Ended June 30,

 

2023

2022

2023

2022

Revenues:

 

 

 

 

Net product sales

$

543,974

 

$

431,714

 

$

1,012,613

 

$

814,800

 

Royalty revenues

 

51,189

 

 

39,109

 

 

81,367

 

 

67,290

 

Collaboration and license agreement revenues

 

8,669

 

 

26,679

 

 

29,571

 

 

41,872

 

Total revenues

 

603,832

 

 

497,502

 

 

1,123,551

 

 

923,962

 

Costs and expenses:

 

 

 

 

Cost of sales

 

180,753

 

 

106,100

 

 

292,529

 

 

193,726

 

Research and development

 

399,868

 

 

304,254

 

 

755,883

 

 

601,913

 

Selling, general and administrative

 

243,932

 

 

220,259

 

 

480,373

 

 

394,484

 

Total costs and expenses

 

824,553

 

 

630,613

 

 

1,528,785

 

 

1,190,123

 

Loss from operations

 

(220,721

)

 

(133,111

)

 

(405,234

)

 

(266,161

)

Investment and other income (loss), net

 

12,084

 

 

(1,609

)

 

26,484

 

 

(3,799

)

Loss before income taxes

 

(208,637

)

 

(134,720

)

 

(378,750

)

 

(269,960

)

Provision for income taxes

 

2,891

 

 

107

 

 

7,515

 

 

1,361

 

Net loss

$

(211,528

)

$

(134,827

)

$

(386,265

)

$

(271,321

)

Net loss per share – basic and diluted

$

(1.13

)

$

(0.73

)

$

(2.06

)

$

(1.48

)

Shares used in computation of per share amounts – basic and diluted

 

187,559

 

 

184,145

 

 

187,226

 

 

183,897

 

Seagen Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)
 

 

June 30, 2023

December 31, 2022

Assets

 

 

Cash, cash equivalents and investments

$

1,292,119

$

1,735,070

Other assets

 

2,203,263

 

1,939,462

Total assets

$

3,495,382

$

3,674,532

Liabilities and Stockholders’ Equity

 

 

Accounts payable and accrued liabilities

$

762,898

$

818,404

Long-term liabilities

 

113,425

 

52,309

Stockholders’ equity

 

2,619,059

 

2,803,819

Total liabilities and stockholders’ equity

$

3,495,382

$

3,674,532

 

Seagen Contacts:

For Investors

Douglas Maffei, Ph.D.

Vice President, Investor Relations

(425) 527-4881

[email protected]

For Media

David Caouette

Vice President, Corporate Communications

(310) 430-3476

[email protected]

KEYWORDS: United States North America Washington

INDUSTRY KEYWORDS: Oncology Health Clinical Trials Research Science Pharmaceutical Biotechnology

MEDIA:

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LifeMD to Present at Sidoti’s Micro-Cap Virtual Conference

NEW YORK, Aug. 02, 2023 (GLOBE NEWSWIRE) — LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, announces that management will be participating in Sidoti’s Micro-Cap Virtual Conference taking place August 16-17, 2023. Management will be presenting a corporate overview on August 17 at 10:00am Eastern time and will be hosting one-on-one meetings with investors.

The presentation will be webcast live and available for replay in the Investors section of LifeMD’s website by clicking here. To register for the conference, visit www.sidoti.com/events. Registration is free and investors are not required to be a Sidoti client.

About LifeMD

™


LifeMD is a direct-to-patient telehealth company with a portfolio of brands that offer virtual primary care, diagnostics, and specialized treatment for men’s and women’s health, allergy & asthma, and dermatological conditions. By leveraging its proprietary technology platform, 50-state affiliated medical group, and nationwide mail-order pharmacy network, LifeMD is increasing access to top-notch healthcare that is affordable to anyone. To learn more, go to LifeMD.com.

Media Contact

[email protected]

Investor Contact

Marc Benathen, CFO
[email protected]



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Marcus & Millichap Declares Regular Semi-Annual Dividend of $0.25 Per Share

Marcus & Millichap Declares Regular Semi-Annual Dividend of $0.25 Per Share

CALABASAS, Calif.–(BUSINESS WIRE)–Marcus & Millichap Inc. (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that its Board of Directors has declared a regular semi-annual dividend of $0.25 per share, or approximately $10.1 million. The dividend will be payable on October 6, 2023 to shareholders of record as of the close of business on September 15, 2023. Any and all future dividends are subject to review and approval by the Board of Directors.

About Marcus & Millichap, Inc.

Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2022, the Company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of $86.3 billion. For additional information, please visit www.MarcusMillichap.com.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This release may include forward-looking statements, including the Company’s business outlook for 2023, the anticipation of further interest rate increases and inflation, the execution of our capital return program, and expectations for market share growth. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results may be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to:

  • general uncertainty in the capital markets, a worsening of economic conditions, and the rate and pace of economic recovery following an economic downturn;

  • changes in our business operations;

  • market trends in the commercial real estate market or the general economy, including the impact of rising inflation and higher interest rates;

  • our ability to attract and retain qualified senior executives, managers and investment sales and financing professionals;

  • the effects of increased competition on our business;

  • our ability to successfully enter new markets or increase our market share;

  • our ability to successfully expand our services and businesses and to manage any such expansions;

  • our ability to retain existing clients and develop new clients;

  • our ability to keep pace with changes in technology;

  • any business interruption or technology failure, including cyber and ransomware attacks, and any related impact on our reputation;

  • changes in interest rates, availability of capital, tax laws, employment laws or other government regulation affecting our business;

  • our ability to successfully identify, negotiate, execute and integrate accretive acquisitions; and

  • other risk factors included under “Risk Factors” in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.

In addition, in this release, the words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “goal,” “expect,” “predict,” “potential,” “should” and similar expressions, as they relate to our Company, our business and our management, are intended to identify forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.

Forward-looking statements speak only as of the date of this release. You should not put undue reliance on any forward-looking statements. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. We have not filed our Form 10-Q for the quarter ended June 30, 2023. As a result, all financial results described in this earnings release should be considered preliminary, and are subject to change to reflect any necessary adjustments or changes in accounting estimates that are identified prior to the time we file our Form 10-Q.

Investor Relations Contact:

Investor Relations

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property REIT

MEDIA:

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Cue Biopharma to Host Business Update Call and Webcast

BOSTON, Aug. 02, 2023 (GLOBE NEWSWIRE) — Cue Biopharma, Inc. (Nasdaq: CUE), a clinical-stage biopharmaceutical company developing a novel class of injectable biologics to selectively engage and modulate disease-specific T cells directly within the patient’s body, announced today that it will host a conference call and webcast to provide a business and clinical update on Wednesday, August 9, 2023 at 4:30 p.m. EDT. Live and archived versions of the event can be accessed via the Company’s website.

The company will provide a clinical update from its ongoing Phase 1 trial evaluating CUE-101, the company’s lead interleukin 2 (IL-2)-based biologic from the CUE-100 series, in combination with pembrolizumab (KEYTRUDA®) for patients with recurrent/metastatic HPV+ head and neck cancer, as well as clinical progress from the Phase 1 monotherapy dose escalation trial of the company’s second clinical drug asset, CUE-102, for the treatment of patients with Wilms’ Tumor 1 (WT1)-positive recurrent/metastatic cancers. Additional clinical, pipeline and business updates will also be addressed.

Webcast Details

Wednesday, August 9 at 4:30 p.m. EDT

Investors: 1-888-886-7786  
International: 1-416-764-8658  
Conference ID: 92073568  
Request a return call via the Call me™ link

:
 		https://emportal.ink/3KcjfmW  
  Participants can use the guest dial-in numbers above and be answered by an operator or click the Call me™ link for instant telephone access. The link will be active 15 minutes prior to the scheduled start time.  
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1626988&tp_key=38376b8c08



About Cue Biopharma
Cue Biopharma, a clinical-stage biopharmaceutical company, is developing a novel class of injectable biologics to selectively engage and modulate disease-specific T cells directly within the patient’s body. The company’s proprietary platform, Immuno-STAT™ (Selective Targeting and Alteration of T cells) and biologics are designed to harness the body’s intrinsic immune system as T cell engagers without the need for ex vivo manipulation or broad systemic immune modulation.

Headquartered in Boston, Massachusetts, we are led by an experienced management team and independent Board of Directors with deep expertise in immunology and immuno-oncology as well as the design and clinical development of protein biologics.

For more information please visit www.cuebiopharma.com and follow us on Twitter at https://twitter.com/CueBiopharma.

Investor Contact

Marie Campinell
Senior Director, Corporate Communications
Cue Biopharma, Inc.
[email protected] 

Media Contact

Maya Romanchuk
LifeSci Communications
[email protected]



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BeautyHealth’s SkinStylus™ Receives New FDA Clearance for Facial Acne Scarring

BeautyHealth’s SkinStylus™ Receives New FDA Clearance for Facial Acne Scarring

Now the only microneedling device FDA-cleared for use on both the face and abdomen

Milestone achievement in just five months since BeautyHealth’s acquisition of the brand

LONG BEACH, Calif.–(BUSINESS WIRE)–
The Beauty Health Company (NASDAQ:SKIN), home to hero brand Hydrafacial, today announced the U.S. Food and Drug Administration (FDA) has cleared its SkinStylus™ microneedling device for use on facial acne scarring in Fitzpatrick skin types I, II, and III in patients aged 22 years and older, making it the only microneedling device FDA cleared for both the face and abdomen.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230802207816/en/

SkinStylus™ (Photo: Business Wire)

SkinStylus™ (Photo: Business Wire)

The clearance from the FDA is a notable milestone for SkinStylus™ since its acquisition by BeautyHealth in February of this year, revealing of an ambitious and accelerated path for the brand since coming under BeautyHealth’s leadership.

“SkinStylus’ new facial indication for acne scarring is a testament to BeautyHealth’s innovation track record, proven brand building expertise, and our commitment to creating the future of skin health,” said BeautyHealth President and Chief Executive Officer Andrew Stanleick. “Our goal is to become the world’s leading beauty, health and wellness platform by bringing together incredible brands and growing them into category leaders. This SkinStylus indication further unlocks the potential of the highly complementary treatments in our multi-brand ecosystem and positions SkinStylus for exponential growth in the years ahead.”

Expected to reach $1 billion U.S. market size by 20301, microneedling is a minimally invasive treatment that is quickly becoming a favorite amongst providers and skincare lovers. Google searches for microneedling are up +20% YoY and up +88% from five years ago2; and the hashtag term #microneedling has over 4.4 million uses on Instagram3.

Microneedling uses small needles to create tiny, controlled micro injuries that help trigger collagen and elastin production, which is essential for smoother, firmer, and more even-toned skin.

SkinStylus™ is an esthetician-founded brand, and the SkinStylus™ SteriLock® MicroSystem is designed to fit into the way medical and aesthetic professionals work, with a combined feature set they won’t find anywhere else.

Categorized by the FDA as a Class II Medical Device and under its new clearance, SkinStylus™ SteriLock® MicroSystem is intended to be used as a microneedling treatment to improve the appearance of facial acne scars in Fitzpatrick skin types I, II, and III in patients aged 22 years and older.

SkinStylus™ is already FDA-cleared for the indication to improve the appearance of surgical or traumatic hypertrophic scars on the abdomen in adults aged 22 years and older. This was supported by the clinical data that was submitted to FDA during the clearance process.

SkinStylus™ is available at providers across the United States. Learn more by visiting SkinStylus.com.

About The Beauty Health Company

The Beauty Health Company (NASDAQ: SKIN) is a global category-creating company delivering millions of skin health experiences every year that help consumers reinvent their relationship with their skin, bodies, and self-confidence. Our brands are pioneers: Hydrafacial™ in hydradermabrasion, SkinStylus™ in microneedling, and Keravive™ in scalp health. Together, with our powerful community of estheticians, partners, and consumers, we are personalizing skin health for all ages, genders, skin tones, and skin types in more than 90 countries. We are committed to being ever more mindful in how we conduct our business to positively impact our communities and the planet. Find a local provider at https://hydrafacial.com/find-a-provider/, and learn more at beautyhealth.com or LinkedIn.

Forward-Looking Statements

Certain statements made in this release, including statements regarding the potential future market size for microneedling, are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.

These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside The Beauty Health Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include The Beauty Health Company’s ability to execute its business plan; market demand for SkinStylus; the ability to effectively provide complementary beauty health products and services; potential litigation involving The Beauty Health Company; changes in applicable laws or regulations; and the possibility that The Beauty Health Company may be adversely affected by other economic, business, and/or competitive factors. The Beauty Health Company does not undertake any obligation to update or revise any forward-looking statements, whether because of new information, future events, or otherwise, except as required by law.

Sources: 1. Emergen Research, Vision Research 2023. 2. Instagram Insights; data pulled as of 7/31/23. 3. Google Analytics data pulled as of 7/31/23.

BeautyHealth Media: Marina Maher Communications | [email protected]

BeautyHealth Investors: The One Nine Three Group | [email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Other Health General Health Specialty Consumer Medical Devices Fashion Teens Cosmetics Retail Women FDA Health

MEDIA:

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SkinStylus™ (Photo: Business Wire)
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Jasper Therapeutics Strengthens Management Team with Key Appointments

Patricia Carlos Appointed Senior Vice President of Regulatory Affairs and Quality

Annette Marcantonio Appointed Vice President of Clinical Operations

REDWOOD CITY, Calif., Aug. 02, 2023 (GLOBE NEWSWIRE) — Jasper Therapeutics, Inc. (Nasdaq: JSPR) (Jasper), a biotechnology company focused on the development of briquilimab, a novel antibody therapy targeting c-Kit (CD117) to address diseases such as chronic spontaneous urticaria (CSU), lower to intermediate risk myelodysplastic syndromes (LR-MDS) as well as novel stem cell transplant conditioning regimes, today announced the appointment of two seasoned pharma industry executives to its regulatory affairs, quality and clinical operations leadership teams. Patricia Carlos joins Jasper as the company’s Senior Vice President of Regulatory Affairs and Quality, and Annette Marcantonio was appointed as Vice President of Clinical Operations.

“With multiple clinical studies of briquilimab in Chronic Spontaneous Urticaria, Low to Intermediate Risk MDS and hematopoietic stem cell transplant either ongoing or planned to start this year, it is the right time to add strength and depth to our regulatory, quality and clinical operations teams,” said Ronald Martell, Chief Executive Officer of Jasper. “Patty and Annette bring decades of experience in guiding drug development programs from investigational new drug application through to successful commercialization, and we are delighted to welcome them to the Jasper organization.”

Patricia Carlos has over 25 years of experience in the biotech and pharmaceutical industry, with a proven track record of success in driving global strategy, regulatory affairs, and strategic partnerships. Her expertise spans early development through approval and post-marketing in multiple therapeutic areas. Prior to joining Jasper, she was Chief Regulatory, Quality and Safety Officer at Agenus, an immuno-oncology company. Previously, she served as Senior Vice President of Regulatory and Quality at Arcus Biosciences, where she built out the Regulatory, Quality and Safety functions and led the global regulatory strategy. Prior to Arcus, Patty held leadership roles at Bellicum Pharmaceuticals, BeiGene, Medivation-Pfizer, Gilead Sciences, and Bayer. Patricia received her bachelor’s degree from Memorial University of Newfoundland.

Annette Marcantonio has spent more than 30 years in senior clinical operations and development roles, leading large-scale clinical programs in complicated and novel therapeutic areas. Prior to joining Jasper, she served as VP of Clinical Operations at Pacylex Pharmaceuticals. Previously, she served as Vice-President of Clinical Affairs at Neurogastrx, where she successfully progressed the NG101 program in Gastroparesis. Prior to Neurogastrx, she served as Vice-President of Clinical Operations at Aimmune, where she was a key figure in designing the clinical development program and implemented and managed the studies leading to the approval of the first-in-class peanut allergy treatment Palforzia™. At prior companies, she was a key participant in the filings of several US and EU marketing applications and held key leadership positions in programs that directly contributed to successful product approvals and label expansions for multiple drugs and biologics. Annette received her bachelor’s degree from Loyola-Marymount University.

About Jasper

Jasper is a clinical-stage biotechnology company developing briquilimab, a monoclonal antibody targeting c-Kit (CD117) as a therapeutic for chronic mast and stem cell diseases such as chronic spontaneous urticaria and lower to intermediate risk myelodysplastic syndromes (MDS) and as a conditioning agent for stem cell transplants for rare diseases such as sickle cell disease (SCD), Fanconi anemia (FA) and severe combined immunodeficiency (SCID). To date, briquilimab has a demonstrated efficacy and safety profile in over 130 dosed subjects and healthy volunteers, with clinical outcomes as a conditioning agent in SCID, acute myeloid leukemia (AML), MDS, FA, and SCD. In addition, briquilimab is being advanced as a transformational non-genotoxic conditioning agent for gene therapy. For more information, please visit us at www.jaspertherapeutics.com.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding briquilimab’s potential, including with respect to its potential to address diseases such as chronic spontaneous urticaria, lower to intermediate risk myelodysplastic syndromes as well as novel stem cell transplant conditioning regimes. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Jasper and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Many actual events and circumstances are beyond the control of Jasper. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, political and business conditions; the risk that the potential product candidates that Jasper develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; the risk that clinical trials may not confirm any safety, potency or other product characteristics described or assumed in this press release; the risk that Jasper will be unable to successfully market or gain market acceptance of its product candidates; the risk that prior study results may not be replicated; the risk that Jasper’s product candidates may not be beneficial to patients or successfully commercialized; patients’ willingness to try new therapies and the willingness of physicians to prescribe these therapies; the effects of competition on Jasper’s business; the risk that third parties on which Jasper depends for laboratory, clinical development, manufacturing and other critical services will fail to perform satisfactorily; the risk that Jasper’s business, operations, clinical development plans and timelines, and supply chain could be adversely affected by the effects of health epidemics; the risk that Jasper will be unable to obtain and maintain sufficient intellectual property protection for its investigational products or will infringe the intellectual property protection of others; and other risks and uncertainties indicated from time to time in Jasper’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2022 and any subsequent Quarterly Reports on Form 10-Q. If any of these risks materialize or Jasper’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While Jasper may elect to update these forward-looking statements at some point in the future, Jasper specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Jasper’s assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts:

John Mullaly (investors)
LifeSci Advisors
617-429-3548
[email protected]

Jeet Mahal (investors)
Jasper Therapeutics
650-549-1403
[email protected]

Lauren Barbiero (media)
Real Chemistry
646-564-2156
[email protected]



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Bimbo Bakeries USA Minimizes Waste by Improving Its Forecasts by 30% with Zebra Technologies

Bimbo Bakeries USA Minimizes Waste by Improving Its Forecasts by 30% with Zebra Technologies

AI-powered demand forecasting solution enables largest U.S. commercial baking company to optimize product freshness without sacrificing availability

LINCOLNSHIRE, Ill.–(BUSINESS WIRE)–Zebra Technologies Corporation (NASDAQ: ZBRA), a leading digital solution provider enabling businesses to intelligently connect data, assets, and people, today announced Bimbo Bakeries USA is using antuit.ai—now part of Zebra Technologies—to transform its organization by improving order accuracy and team visibility, ultimately increasing customer satisfaction. With the Zebra antuit.ai Predictive Ordering for Direct Store Delivery (DSD) solution, Bimbo Bakeries USA has also minimized waste by reducing forecast errors up to 30% as well as achieving and maintaining forecast efficiency of over 80% for more than five years—including through the pandemic.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230802084217/en/

The largest U.S. bakery company, Bimbo Bakeries USA is working with Zebra’s antuit.ai software solution to improve order accuracy and minimize waste without lost sales from understocking and to empower front-line teams with greater visibility and productivity. (Graphic: Business Wire)

The largest U.S. bakery company, Bimbo Bakeries USA is working with Zebra’s antuit.ai software solution to improve order accuracy and minimize waste without lost sales from understocking and to empower front-line teams with greater visibility and productivity. (Graphic: Business Wire)

Operating 59 bakeries and employing over 20,000 associates, Bimbo Bakeries USA engaged Zebra to leverage the antuit.ai solution to maintain the balance between product freshness and availability. The solution is also simplifying collaboration between planners and route operators. Moreover, antuit.ai has enabled Bimbo Bakeries USA to work in a new way, resulting in a “Perfect Order” solution that has minimized forecast errors—overstocking and understocking—and provided the company with better worker productivity.

“Zebra is the perfect collaborator for the complex and sizeable challenges we’re facing through our transformation,” said Morgan Smith, Vice President, Direct Store Delivery Center of Excellence, Bimbo Bakeries USA. “Their antuit.ai forecasting and planning solution, augmented by a custom-fit user interface and deep industry expertise, enables us to achieve a significant step-change in both our order accuracy and organizational productivity. And the best part is that we did not have to wait years to feel the business impact.”

Stock availability and ordering continue to challenge retailers with nearly 90% of retail decision-makers and associates agreeing these are the top areas to improve with technology, according to Zebra’s Global Shopper Study. Antuit.ai optimizes demand forecasting and planning, allocation, replenishment, and lifecycle pricing for retail and consumer packaged goods (CPG) companies. Its software enables inventory decisions with demand intelligence leveraging both internal and external data, including weather and local events, to make more accurate, granular forecasts and provide better inventory decision-making power to businesses, like Bimbo Bakeries USA.

“I’m especially proud of the success antuit.ai has helped Bimbo Bakeries USA realize,” said Sivakumar Lakshmanan, Head of Software Solutions, Zebra Technologies. “We have collaborated together to embark on a new way of working—augmenting human know-how with AI—to solve the company’s forecasting challenges, empowering them to digitally transform their business and achieve substantial results.”

KEY TAKEAWAYS

  • The largest U.S. bakery company, Bimbo Bakeries USA is working with Zebra’s antuit.ai software solution to improve order accuracy and minimize waste without lost sales from understocking and to empower front-line teams with greater visibility and productivity.

  • Leveraging antuit.ai’s AI-powered demand forecasting and planning solution, Bimbo Bakeries USA achieved the “Perfect Order,” reducing forecast errors by up to 30%.

  • Bimbo Bakeries USA forecast accuracy has been consistent for over five years, despite pandemic volatility, thanks to its partnership with Zebra’s antuit.ai.

  • To read the full case study, click here.

ABOUT ZEBRATECHNOLOGIES

Zebra (NASDAQ: ZBRA) helps organizations monitor, anticipate, and accelerate workflows by empowering their frontline and ensuring that everyone and everything is visible, connected and fully optimized. Our award-winning portfolio spans software to innovations in robotics, machine vision, automation and digital decisioning, all backed by a +50-year legacy in scanning, track-and-trace and mobile computing solutions. With an ecosystem of 10,000 partners across more than 100 countries, Zebra’s customers include over 80% of the Fortune 500. Newsweek recently recognized Zebra as one of America’s Most Loved Workplaces and Greatest Workplaces for Diversity, and we are on Fast Company’s list of the Best Workplaces for Innovators. Learn more at www.zebra.com or sign up for news alerts. Follow Zebra’s Your Edge blog, LinkedIn, Twitter and Facebook, and check out our Story Hub: Zebra Perspectives.

ZEBRA and the stylized Zebra head are trademarks of Zebra Technologies Corp., registered in many jurisdictions worldwide. All other trademarks are the property of their respective owners. ©2023 Zebra Technologies Corp. and/or its affiliates.

Media Contact:

Michael Gilhooly

Zebra Technologies

+1-708-814-5281

[email protected]

Industry Analyst Contact:

Kasia Fahmy

Zebra Technologies

+1-224-306-8654

[email protected]

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Data Management Supply Chain Management Technology Professional Services Food/Beverage Robotics Retail Data Analytics Software Artificial Intelligence Electronic Design Automation

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The largest U.S. bakery company, Bimbo Bakeries USA is working with Zebra’s antuit.ai software solution to improve order accuracy and minimize waste without lost sales from understocking and to empower front-line teams with greater visibility and productivity. (Graphic: Business Wire)
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Lavoro to Participate in the Canaccord Genuity 43rd Annual Growth Conference on August 9, 2023

SÃO PAULO, Brazil, Aug. 02, 2023 (GLOBE NEWSWIRE) — Lavoro (Nasdaq: LVRO), the first U.S.-listed pure-play agricultural inputs distributor in Latin America, will participate in the Canaccord Genuity 43rd Annual Growth Conference in Boston, MA, on August 9, 2023.

This is Lavoro’s first participation at the event. Ruy Cunha, Chief Executive Officer, will host a presentation on Wednesday, August 9, at 10:30 am ET. Mr. Cunha will discuss Lavoro’s role in helping provide greater access to breakthrough technology and boost farmer productivity, including Lavoro’s proprietary products which aid in lowering costs for farmers while increasing yields with less water, land and carbon footprint. Additionally, members of the management team will also meet with investors throughout the day.

Event: Canaccord Genuity 43rd Annual Growth Conference
Date: August 9, 2023 at 10:30 am ET

A webcast will be available on the Company’s investor relations website in the “Events” section at https://ir.lavoroagro.com

About Lavoro

Lavoro is Brazil’s largest agricultural inputs retailer and a leading producer of agriculture biological products. Lavoro’s shares and warrants are listed on the Nasdaq stock exchange under the tickers “LVRO” and “LVROW.” Through its comprehensive portfolio of products and services, the company empowers small and medium-size farmers to adopt the latest emerging agricultural technologies and enhance their productivity. Since its founding in 2017, Lavoro has broadened its reach across Latin America, serving 72,000 customers in Brazil, Colombia, and Uruguay, via its team of over 1,000 technical sales representatives (RTVs), its network of over 210 retail locations, and its digital marketplace and solutions. Lavoro’s RTVs are local trusted advisors to farmers, regularly meeting them to provide agronomic recommendations throughout the crop cycle to drive optimized outcomes. Learn more about Lavoro at ir.lavoroagro.com.

C
ontact:

Tigran Karapetian
[email protected]

Fernanda Rosa
[email protected]

 



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Trio Petroleum Corp Announces that the First Test Interval of its HV-1 Discovery Well has Tested at Rates up to 125 BOPD along with Associated Natural Gas

Testing Operations to Continue on Additional Intervals

Visit Trio Website for Oil Production Videos

DANVILLE, CA, Aug. 02, 2023 (GLOBE NEWSWIRE) — Trio Petroleum Corp. (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today announced that the first test interval (a stratigraphic subzone of the Mid-Monterey Clay Member of the Monterey Formation) that is being production tested at the HV-1 discovery well of the South Salinas Project has tested at rates up to approximately 125 barrels of oil per day (BOPD) with associated natural gas and water. These initial test results are preliminary and are based on swabbing operations that may not be definitive. Swabbing operations of the first test interval are scheduled through the end of this week to obtain additional data. The Company then plans to conduct testing operations on additional zones which are believed to be even more prospective.

Videos of the oil production test can be found on the “Investors” tab of the Company’s website: https://ir.trio-petroleum.com

“The initial findings of the HV-1 well are highly encouraging, with improving overall production rates and increasing oil cuts. Despite not initially assigning reserves to the Mid-Monterey Clay interval, our testing shows great promise. This interval is about 2,000 feet thick, and currently, we are only testing a small portion of it. The Mid-Monterey Clay interval was on our radar as a potential producing zone due to good oil indications in our HV-3A discovery well and other nearby wells.” said CEO Frank Ingriselli. “While we eagerly anticipate additional results from the ongoing testing of both the Mid-Monterey Clay and the shallower zones, particularly the Yellow-Brown Zone, we are delighted with the invaluable insights they are providing. These insights will play a pivotal role in shaping our development plan, which has already been disclosed to hold a discounted potential of approximately $2 billion in net cash flow. This potential production asset could lead to cash flowing operations in the third quarter.”


HV-1 Discovery Well Production Test Update

On July 15-16, the HV-1 well was perforated at a measured depth of 6,379-6,560 feet (181 gross feet) in the Mid-Monterey Clay Member and acidized for borehole-cleanup. Nine days of swabbing operations carried-out since that time show improving results and currently indicate that the first test interval may be capable of producing approximately 500 barrels of fluid per day, with approximately 25% oil cut (i.e., 125 BOPD) and associated gas. However, as noted above, these initial test results are preliminary and are based on short-term swabbing operations that may not be definitive and, therefore, swabbing and testing operations are continuing to obtain additional and more-definitive data.

It is important to note that the primary-objective of the HV-1 well is the shallower “Yellow-Brown Zone” of the Monterey Formation, which has not yet been tested in the HV-1 well and which occurs in the HV-1 well at 4,781-5,863 feet (measured depth). The Yellow-Brown Zone was oil and gas productive in the Company’s HV-3A discovery well and is assigned reserves in the Company’s Reserve Report as filed with the SEC, whereas the deeper Mid-Monterey Clay Member that is now being tested (i.e., perforations at 6,379-6,560’) is currently not assigned reserves. Project reserves will increase if economic production is established in the Mid-Monterey Clay in the HV-1 well. Production-testing operations at the appropriate time will move up hole to test the primary-objective Yellow-Brown Zone, which the Company believes looks very promising.

The HV-1 discovery well is the second well drilled to-date in the Presidents Oil field of the Company’s South Salinas Project, which is located in Monterey County, California. Earlier press releases (June 20, June 30 & July 7, 2023) included the following background information about the HV-1 confirmation well:

1) The HV-1 well is a two-mile step-out from Trio’s HV-3A discovery well that found high-quality, mid-gravity oil at depths between 3,750 to 5,100 feet.
2) The HV-1 well drilled through approximately 1,800 feet of the Monterey Formation with major indications of oil and gas prior to reaching total depth at 6,631 feet.
3) The HV-1 well confirmed a major accumulation of oil and gas in the Presidents Field.
4) The HV-1 well was successfully completed by cementing seven-inch casing from a depth of 6,626 feet to the ground surface.
5) A Schlumberger CBL (cement bond log) indicates that the hole is properly cemented, which will support safe operations (including the protection of personnel and of the environment) and protect any potential underground sources of drinking water.
6) An independent, third-party interpretation by a log analyst of the Schlumberger FMI log (Formation Image log) that was run in the HV-1 well indicates:

a) There are abundant, open natural-fractures (more than 900) in the target reservoir zones of the Monterey Formation (note: open natural-fractures commonly are an important ingredient of successful Monterey Formation oil/gas wells).
b) There are common faults (five faults and twenty-four possible faults and/or micro-faults) in the target reservoir zones of the Monterey Formation (note: faults and associated natural-fractures are common important ingredients of successful Monterey Formation oil/gas wells).

7) An independent, third-party, integrated interpretation by a geophysicist of the HV-1 well data and the 3D seismic data indicates:

a) The HV-1 well has confirmed the occurrence of the major, subsurface, anticlinal geologic structure that comprises the Presidents Field, almost exactly as previously mapped.
b) The HV-1 well in the secondary-objective Mid-Monterey Clay Member drilled across a normal-fault (one of the aforementioned five faults identified in the FMI data) into a high fault-block along the crest of the anticline (note: the FMI interpretation indicates that the high fault-block has abundant, open natural-fractures).

8) Trio Petroleum LLC (the operator) intends to production test the HV-1 well from approximately 4,500 to 6,600 feet (measured depth), which will be done in likely four or more successive stages across different depth intervals, working from the base upwards.

a) Each interval is planned to be perforated, acidized (i.e., acid cleanup) and tested individually.
b) The first interval to be tested was planned to be from approximately 6,390 to 6,620 feet, which is the aforementioned interpreted high fault-block with abundant, open natural-fractures and various faults. This interval is comprised largely of porcelanous claystone. There were significant shows of oil and gas and free oil in this interval during drilling operations.
c) Initial oil and gas production rates at the HV-1 well will be announced after initial production tests are completed.

Trio anticipates that oil production from the HV-1 well will generate cash flow in Q3, 2023, and that additional cash flow will be generated in Q3-Q4, 2023, from the planned HV-2 and HV-4 wells, and also from acquisitions of equity interests in other producing assets, such as the previously-announced and currently under-review acquisition of an interest in the Union Avenue producing oil field.

Full field development of the Project has an estimated net cash flow to the company, discounted at 10%, of approximately $2 billion, as described in the company’s public filings with the SEC and on its website (www.trio-petroleum.com).


About Trio Petroleum Corp

Trio Petroleum Corp is an oil and gas exploration and development company headquartered in Bakersfield, California, with operations in Monterey County, California. Trio has a large, approximately 9,267-acre asset called the “South Salinas Project” where it owns an 85.75% working interest. Trio’s near-term plans include testing and producing the HV-1 well, and then drilling the HV-2 and HV-4 wells. Previous operations on this asset have successfully drilled two (2) production/discovery wells (i.e., the HV-3A and BM 2-2 wells) that Trio now owns.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release of Trio Petroleum Corp (“Trio”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Trio’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Trio’s S-1 filed with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. Trio undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.


Investor Relations Contact:


Redwood Empire Financial Communications
Michael Bayes
(404) 809 4172
[email protected]