Peloton Interactive, Inc. Reports Fourth Quarter and Full-Year Fiscal 2023 Financial Results

NEW YORK, Aug. 23, 2023 (GLOBE NEWSWIRE) — Peloton Interactive, Inc. (Nasdaq: PTON) has announced its financial results for fourth quarter and full-year fiscal 2023. Please visit the Peloton investor relations website https://investor.onepeloton.com/financial-information/quarterly-results to view the fourth quarter and full-year fiscal 2023 shareholder letter. Today the company will host a conference call and live audio webcast to discuss the results at 8:30 a.m. ET.

Additional Call Details:

What: Peloton Fourth Quarter and Full-Year Earnings Conference Call

When: Wednesday, August 23, 2023

Time: 8:30 a.m. ET

Live Call registration link: https://register.vevent.com/register/BI910b1a1c4910402f814c225464813dd1

Live Audio Webcast:https://investor.onepeloton.com/news-and-events/events

For those unable to participate in the conference call, a replay will be available on the investor relations page of the company’s website for 30 days.

About Peloton

Peloton (NASDAQ: PTON), provides Members with expert instruction, and world class content to create impactful and entertaining workout experiences for anyone, anywhere and at any stage in their fitness journey. At home, outdoors, traveling, or at the gym, Peloton brings together immersive classes, cutting-edge technology and hardware, and the Peloton App with multiple tiers to personalize the Peloton experience [with or without equipment]. Founded in 2012 and headquartered in New York City, Peloton has nearly 7 Million Members across the US, UK, Canada, Germany, and Australia. For more information, visit www.onepeloton.com.

Investor Relations Contact:


[email protected]



GH Research Reports Second Quarter 2023 Financial Results and Provides Business Updates

DUBLIN, Ireland, Aug. 23, 2023 (GLOBE NEWSWIRE) — GH Research PLC (Nasdaq: GHRS), a clinical-stage biopharmaceutical company dedicated to transforming the treatment of psychiatric and neurological disorders, today reported financial results for the second quarter ended June 30, 2023 and provided business updates.

Second Quarter 2023 Financial Highlights

Cash position

Cash, cash equivalents, other financial assets and marketable securities were $238.1 million as of June 30, 2023, compared to cash, cash equivalents and marketable securities of $251.7 million as of December 31, 2022. Cash equivalents and other financial assets comprise money market funds. Marketable securities comprise investment grade bonds. We believe that our existing cash, cash equivalents, other financial assets and marketable securities will be sufficient for us to fund our operating expenses and capital expenditure requirements into 2026.

Research and development expenses

R&D expenses were $7.2 million for the quarter ended June 30, 2023, compared to $4.2 million for the same quarter in 2022. The increase was primarily due to increased activities relating to our technical development and clinical trials and increases in employee expenses to support these activities.

General and administrative expenses

G&A expenses were $2.7 million for the quarter ended June 30, 2023, compared to $2.5 million for the same quarter in 2022. The increase was primarily due to an increase in professional fees and employee expenses offset by lower insurance costs.

Net loss

Net loss was $7.7 million, or $0.15 loss per share, for the quarter ended June 30, 2023, compared to a net profit of $0.3 million, or $0.01 earnings per share, for the same quarter in 2022. The net profit in the prior year quarter was due to a foreign exchange gain which was not repeated in 2023.

Business Updates

GH001

GH001, our proprietary inhalable mebufotenin (5-MeO-DMT) product candidate, is currently being investigated in a multi-center, randomized, double-blind, placebo-controlled Phase 2b trial in patients with treatment-resistant depression (TRD) (GH001-TRD-201). Patient enrollment for this trial is underway, with expected recruitment of approximately 80 patients across several European countries. The primary objective is to determine the efficacy of our single-day individualized dosing regimen (IDR) of GH001 compared with placebo in improving depressive symptoms as assessed by the mean change from baseline in Montgomery-Åsberg Depression Rating Scale (MADRS) at the end of the 7-day double-blind phase. The double-blind phase is followed by a 6-month open-label extension phase where all patients can receive treatment with the GH001 IDR as-needed, based on the patient’s clinical status. Further trial design details are described in our corporate presentation, which is available in the investor section on our website.

As previously announced, we expect to submit an IND with the U.S. FDA for GH001 in TRD, delivered with our proprietary aerosol delivery device, in the third quarter of 2023. Pending clearance by the FDA, we expect to initiate a Phase 1 clinical pharmacology trial of GH001 delivered with our proprietary aerosol delivery device in healthy volunteers (GH001-HV-106) in the fourth quarter of 2023. The trial is designed to support bridging to the clinical data generated with the third-party device we currently use in our clinical trials.

Our Phase 2a proof-of-concept clinical trial of GH001 in postpartum depression (GH001-PPD-203) is ongoing and, as previously announced, is expected to be completed in the fourth quarter of 2023. Our Phase 2a proof-of-concept clinical trial of GH001 in bipolar II disorder with a current depressive episode (GH001-BD-202) is recruiting slower than previously projected and we now expect this trial to be completed in the first quarter of 2024.

GH002

As previously announced, our randomized, double-blind, placebo-controlled, dose-ranging clinical pharmacology trial of GH002, our mebufotenin (5-MeO-DMT) product candidate formulated for administration via a proprietary intravenous approach, in healthy volunteers (GH002-HV-105) is expected to be completed in the fourth quarter of 2023.

Expansion of Executive Management Team

We are pleased to announce the recent expansion of our Executive Management Team, with the appointment of Velichka (Villy) Valcheva, MD, MSc as VP Clinical Research and Medical Affairs. Villy has more than 20 years’ experience in various leadership roles, with global exposure in pharmaceutical and biotech companies, including Global Senior Medical Director positions at Ipsen and Sanofi. Villy joins us from Albireo, where, in her position as VP and Head of Medical Affairs International, she was responsible for all international medical activities, played a pivotal role in gaining market access across multiple countries, was deeply involved in driving the company’s strategic decisions, and significantly contributed to the recent acquisition of Albireo by Ipsen.

About GH Research PLC

GH Research PLC is a clinical-stage biopharmaceutical company dedicated to transforming the treatment of psychiatric and neurological disorders. GH Research PLC’s initial focus is on developing its novel and proprietary mebufotenin (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).

GH Research PLC’s annual report on Form 20-F/A filed with the U.S. Securities and Exchange Commission for the year ended December 31, 2022 is available at www.ghres.com and shareholders may receive a hard copy free of charge upon request.

About GH001

Our lead product candidate, GH001, is formulated for mebufotenin (5-MeO-DMT) administration via a proprietary inhalation approach. With GH001, we have completed two Phase 1 healthy volunteer clinical trials and a Phase 1/2 clinical trial in patients with treatment-resistant depression (TRD). Based on the observed clinical activity, where 87.5% of patients with TRD were brought into an ultra-rapid remission with our GH001 individualized single-day dosing regimen in the Phase 2 part of the trial, we believe that GH001 has potential to change the way TRD is treated today. GH001 is currently in a multi-center, randomized, double-blind, placebo-controlled Phase 2b trial of GH001 in TRD.

About GH002 and GH003

GH002 is our mebufotenin (5-MeO-DMT) product candidate formulated for administration via a proprietary intravenous approach. GH002 is currently in Phase 1 clinical development. GH003 is our mebufotenin (5-MeO-DMT) product candidate formulated for administration via a proprietary intranasal administration approach. GH003 is currently in preclinical development. We anticipate developing GH002 and GH003 in subpopulations and confined use scenarios within our focus area of psychiatric and neurological disorders.

Forward-Looking Statements

This press release contains statements that are, or may be deemed to be, forward-looking statements. All statements other than statements of historical fact included in this press release, including statements regarding our future results of operations and financial position, business strategy, product candidates, medical devices required to deliver these product candidates, research pipeline, ongoing and currently planned preclinical studies and clinical trials, regulatory submissions and approvals, research and development costs, cash runway, timing and likelihood of success, as well as plans and objectives of management for future operations are forward-looking statements. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of the date hereof. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Investor Relations:

Julie Ryan
GH Research PLC
[email protected]

GH RESEARCH PLC

Condensed Consolidated Interim Statement of Comprehensive Income (Unaudited)

(in thousands, except share and per share amounts)

 
  Three months ended

June 30,
  Six months ended

June 30,
  2023 2022   2023 2022
  $’000 $’000   $’000 $’000
           
Operating expenses          
Research and development (7,176) (4,240)   (14,482) (8,954)
General and administration (2,749) (2,510)   (5,862) (5,802)
Loss from operations (9,925) (6,750)   (20,344) (14,756)
           
Finance income 2,122   3,611
Finance expense (179)   (350)
Movement of expected credit loss 217   18
Foreign exchange gain/(loss) 36 7,084   (1,601) 9,327
Total other income 2,196 7,084   1,678 9,327
           
(Loss)/profit before tax (7,729) 334   (18,666) (5,429)
Tax charge/(credit)  
(Loss)/profit for the period (7,729) 334   (18,666) (5,429)
           
Other comprehensive (expense)/income          

Items that may be reclassified to profit or loss
         
Fair value movement on marketable securities (1,512)   (788)
Currency translation adjustment (57) (7,054)   1,619 (9,315)
Total comprehensive loss for the period (9,298) (6,720)   (17,835) (14,744)
           
Attributable to owners:          
(Loss)/profit for the period (7,729) 334   (18,666) (5,429)
Total comprehensive loss for the period (9,298) (6,720)   (17,835) (14,744)
           
(Loss)/earnings per share          
Basic and diluted (loss)/earnings per share (in USD) (0.15) 0.01   (0.36) (0.10)
 

GH RESEARCH PLC

Condensed Consolidated Interim Balance Sheet (Unaudited)

(in thousands)

 
    At June 30, At December 31,
    2023 2022
    $’000 $’000
ASSETS      
Current assets      
Cash and cash equivalents   96,895 165,955
Other financial assets   54,728
Marketable securities   13,761
Other current assets   1,015 2,586
Total current assets   166,399 168,541
Non-current assets      
Marketable securities   72,697 85,724
Property, plant, and equipment   1,176 97
Total non-current assets   73,873 85,821
Total assets   240,272 254,362
       
LIABILITIES AND EQUITY      
Current liabilities      
Trade payables   2,912 1,868
Lease liability   267
Other current liabilities   3,378 2,678
Total current liabilities   6,557 4,546
Non-current liabilities      
Lease liability   732
Total non-current liabilities   732
Total liabilities   7,289 4,546
       
Equity attributable to owners      
Share capital   1,301 1,301
Additional paid-in capital   291,448 291,448
Other reserves   2,809 2,595
Foreign currency translation reserve   (11,416) (13,035)
Accumulated deficit   (51,159) (32,493)
Total equity   232,983 249,816
Total liabilities and equity   240,272 254,362
       



ZeroNox Expands Into Industrial and Construction Markets with IndiCon Platform & Papé Material Handling Partnership

ZeroNox Expands Into Industrial and Construction Markets with IndiCon Platform & Papé Material Handling Partnership

  • ZeroNox launches its IndiCon platform to bolster industrial and construction sector partnerships, distribution, growth, and support
  • The IndiCon platform kicks off with new partnership agreement with one of the largest full-service equipment dealers in the Western U.S., Papé Material Handling

PORTERVILLE, Calif.–(BUSINESS WIRE)–
Zero Nox Inc. (“ZeroNox” or the “Company”), a leading provider of sustainable, off-highway vehicle electrification, today announced a major milestone towards its expansion strategy into the industrial and construction markets with the launch of its IndiCon platform. Focused to support large and specialized dealer and distributor partners in the industrial and construction markets, IndiCon is a new platform created by ZeroNox to expand its product distribution footprint in these strategic growth markets while increasing its service partnerships and potential sales.

ZeroNox launched the IndiCon platform by signing a new partnership agreement with Papé Material Handling, which is one of the largest full-service material equipment dealers in the Western U.S. with 92-full service dealerships across 62 cities, dedicated to promoting products and operations that support sustainability. Initially launching in the states of California and Oregon, this partnership will bring ZeroNox’s products to 16 of Papé Material Handling’s dealership locations. ZeroNox currently offers its all-electric Tuatara Utility Vehicles to IndiCon partners, and plans to offer more products powered by ZeroNox later this year.

Vonn Christenson, Co-founder and Chief Executive officer, said, “We are excited to announce today our expansion into the industrial and construction end-markets through the signing of our first IndiCon partnership agreement with Papé Material Handling. With the launch of our IndiCon platform and this new partnership, we’re excited to start delivering on our growth strategy and bringing our sustainable solutions to strategic and adjacent markets. We expect that this partnership with Papé Material Handling will contribute to our sales meaningfully as we expand to additional locations and diversify our product portfolio in the quarters ahead.”

As previously announced, ZeroNox signed a definitive business combination agreement with The Growth for Good Acquisition Corporation (Nasdaq: GFGD) (“Growth for Good”), a publicly traded special purpose acquisition company, that is expected to result in ZeroNox becoming publicly listed. Completion of the transaction is subject to approval by Growth for Good’s shareholders and other customary closing conditions.

About ZeroNox

ZeroNox is leading the electrification of off-highway commercial and industrial vehicles, with best-in- class LFP batteries and an electric powertrain platform (“ZEPP”) that is cleaner, high performing, and cost effective. As a first mover in the advanced off-highway electric vehicle (OHEV) powertrain market, ZeroNox is proudly designed and engineered in America, with offices in Porterville, California.

For more information, visit: https://www.zeronox.com and https://www.linkedin.com/company/zeronox/

The information contained on, or accessible through, ZeroNox’s website is not incorporated by reference into this press release, and you should not consider it a part of this press release.

About Growth for Good

Growth for Good, led by CEO Yana Watson Kakar, Chairperson of the Board of Directors, Vikram Gandhi, CFO Rahul Kakar and board member Dana Barsky, focuses on sustainable, socially responsible companies with strong business fundamentals, high growth potential and a readiness to scale in the public markets. Our team of highly reputable sustainability investors and seasoned business operators seek to add strategic and operational as well as financial value to our merger partner. Growth for Good believes the market opportunity for sustainable companies has never been stronger and looks forward to supporting a company that will contribute to the decarbonization of the global economy.

For more information, visit: https://www.g4ginvestment.com and https://www.linkedin.com/company/growth-for-good-acquisition-corp/

The information contained on, or accessible through, Growth for Good’s website is not incorporated by reference into this press release, and you should not consider it a part of this press release.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Growth for Good and ZeroNox. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) actual market adoption and growth rates of electrification technologies for commercial and industrial vehicles; (ii) ZeroNox’s ability to convert trial deployments with truck fleets into sales orders; (iii) delays in design, manufacturing and wide-spread deployment of ZeroNox’s products and technologies; (iv) failure of ZeroNox’s products to perform as expected or any product recalls; (v) ZeroNox’s ability to expand its relationships with OEMs and fleet owners, and its distribution network; (vi) ZeroNox’s ability to develop vehicles of sufficient quality and appeal on schedule and on large scale; (vii) ZeroNox’s ability to raise capital as needed; (viii) management’s ability to manage growth; (ix) the macroeconomic conditions and challenges in the markets in which ZeroNox operates; (x) the effects of increased competition in the electrification technology business; (xi) ZeroNox’s ability to defend against any intellectual property infringement or misappropriation claims; (xii) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Growth for Good ’s securities, (xiii) the risk that the transaction may not be completed by Growth for Good ’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Growth for Good, (xiv) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the Merger Agreement by the shareholders of Growth for Good and the receipt of certain governmental and regulatory approvals, (xv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (xvi) the effect of the announcement or pendency of the transaction on ZeroNox’s business relationships, operating results and business generally, (xvii) risks that the proposed transaction disrupts current plans and operations of ZeroNox and potential difficulties in ZeroNox employee retention as a result of the transaction, (xviii) the outcome of any legal proceedings that may be instituted against ZeroNox or against Growth for Good related to the Merger Agreement or the proposed transaction, (xix) the ability to maintain the listing of Growth for Good’s securities on a national securities exchange, (xx) the price of Growth for Good’s securities may be volatile due to a variety of factors, including changes in the competitive industries in which Growth for Good plans to operate or ZeroNox operates, variations in operating performance across competitors, changes in laws and regulations affecting Growth for Good’s or ZeroNox’s business and changes in the combined capital structure, (xxi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities, and (xxii) the risk of economic downturns and a changing regulatory landscape. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Growth for Good’s registration on Form S-1 (File No. 333- 261369), the Registration Statement on Form S-4 discussed above and other documents filed by Growth for Good from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Growth for Good and ZeroNox assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Growth for Good nor ZeroNox gives any assurance that either Growth for Good or ZeroNox or the combined company will achieve its expectations.

Additional Information and Where to Find It

In connection with the proposed transaction, Growth for Good filed the Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission (“SEC”) on April 7, 2023, which includes a document that serves as a prospectus and a proxy statement of Growth for Good, referred to as a “proxy statement/prospectus.” The definitive proxy statement/prospectus was filed on August 2, 2023 and mailed to all Growth for Good stockholders as of July 10, 2023 on or about August 3, 2023. Growth for Good may also file other relevant documents regarding the proposed transaction with the SEC. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF GROWTH FOR GOOD ARE URGED TO READ THE REGISTRATION STATEMENT, THE DEFINITIVE PROXY STATEMENT/PROSPECTUS INCLUDED THEREIN AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC, INCLUDING ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

Investors and security holders may obtain free copies of the registration statement and the proxy statement/prospectus and all other relevant documents that are filed or that will be filed with the SEC by Growth for Good through the website maintained by the SEC at www.sec.gov. The documents filed by Growth for Good with the SEC also may be obtained by contacting Growth for Good at 12 E 49th Street, 11th Floor, New York, NY 10017, or by calling (646) 450-1265.

Participants in Solicitation

Growth for Good and ZeroNox and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from Growth for Good’s shareholders in connection with the proposed transaction. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transactions. You may obtain a free copy of these documents as described in the preceding paragraph.

ZeroNox

For Media:

[email protected]


For Investors:

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Other Transport Technology EV/Electric Vehicles Automotive Transport Automotive Manufacturing Alternative Energy Manufacturing Energy Batteries

MEDIA:

Logo
Logo

Tiziana Life Sciences Announces Foralumab Presentation by Dr. Howard Weiner at the Annual Meeting of the International Society of Neuroimmunology

NEW YORK, Aug. 23, 2023 (GLOBE NEWSWIRE) — Tiziana Life Sciences Ltd. (Nasdaq: TLSA) (“Tiziana” or the “Company”), a biotechnology company developing breakthrough immunomodulation therapies via novel routes of drug delivery, today announced an oral presentation of “Nasal anti-CD3 mAb induces Tregs that dampen microglial activation and treat neuroinflammatory diseases including MS, AD and ALS” at the 16th International Society of Neuroimmunology (ISNI) Congress in Quebec City, Canada, being held August 21-24, 2023. Dr. Weiner’s live presentation is scheduled for 11:42 a.m. ET on August 24, 2023.

“We are expanding our understanding of foralumab through rigorous research1 and clinical trials designed to study this potential treatment for neuroinflammatory diseases,” said Howard L. Weiner, MD, Chairman of Tiziana’s Scientific Advisory Board. Dr. Weiner is also co-director of the Ann Romney Center for Neurologic Diseases at Brigham and Women’s Hospital, a founding member of Mass General Brigham healthcare system.

“Dr. Weiner’s presentation on foralumab, or nasal anti-CD3 mAb will also include updates on our Multiple Sclerosis Expanded Access (EA) program”, commented Gabriele Cerrone, Executive Chairman, Founder, and interim Chief Executive Officer of Tiziana. “I am truly excited at the rapid progress of our foralumab program. This quarter, we have successfully filed our Alzheimer’s IND and received a “may proceed” FDA response. In addition, we will conduct our multiple sclerosis Phase 2a investigator’s meeting, announce our 6-month clinical findings and PET scans for EA Patients 3 through 6 and lastly enroll EA patients 7 through 10.”

About the ISNI Annual Congress

The 16th ISNI Congress focuses on the latest fundamental, clinical, and technological advances in neuroimmunology. Topics include not only neuroimmune diseases, such as multiple sclerosis, but also neurodegenerative disorders involving inflammatory processes, such as Alzheimer’s disease, stroke, spinal cord injury, and brain cancer.

About Foralumab

Activated T cells play an important role in the inflammatory process. Foralumab, the only fully human anti-CD3 monoclonal antibody (mAb), binds to the T cell receptor and dampens inflammation by modulating T cell function, thereby suppressing effector features in multiple immune cell subsets. This effect has been demonstrated in patients with COVID and with multiple sclerosis, as well as in healthy normal subjects. Intranasal foralumab Phase 2 trials are expected to start in the third quarter of 2023 in patients with non-active SPMS. Immunomodulation by nasal anti-CD3 mAb represents a novel avenue for treatment of inflammatory human diseases.1

About Tiziana Life Sciences

Tiziana Life Sciences is a clinical-stage biopharmaceutical company developing breakthrough therapies using transformational drug delivery technologies to enable alternative routes of immunotherapy. Tiziana’s innovative nasal approach has the potential to provide an improvement in efficacy as well as safety and tolerability compared to intravenous (IV) delivery.  Tiziana’s lead candidate, intranasal foralumab, which is the only fully human anti-CD3 mAb, has demonstrated a favorable safety profile and clinical response in patients in studies to date. Tiziana’s technology for alternative routes of immunotherapy has been patented with several applications pending and is expected to allow for broad pipeline applications.

For further inquiries:

Tiziana Life Sciences Ltd

Paul Spencer, Business Development and Investor Relations
+44 (0) 207 495 2379
email: [email protected]

Investors:

Irina Koffler
LifeSci Advisors, LLC
+1 646 970 4681
[email protected]

_______________
1
https://www.pnas.org/doi/10.1073/pnas.2220272120



Plug Power Hosts Analyst Day, Showcasing the World’s First 15TPD Green Hydrogen Plant

LATHAM, N.Y., Aug. 23, 2023 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, today will host its Analyst Day showcasing the accomplishments to date of its 15 ton per day (TPD) liquid green hydrogen plant in Camden County, Georgia. Plug will share how the Georgia plant strengthens Plug’s long-term position as the global leader in green hydrogen production and supplier of electrolyzers. The day’s agenda will include a tour of the hydrogen plant.

The event will start with opening remarks by Andy Marsh, CEO of Plug. During the event, Sanjay Shrestha, EVP, GM of Energy Business and Plug’s Chief Strategy Officer, will discuss the benefits and the learnings to date from this plant. The plant was constructed in 12 months and has 40MW of Plug PEM electrolyzers. The plant is grid-connected, which should ensure a steady supply of power that is critical for a liquid hydrogen plant.

The insights Plug gained designing and constructing this plant are expected to result in design optimization and lower capital expenditure for the company’s other plants currently under construction. As the Georgia plant’s hydrogen production ramps up, it is anticipated to improve Plug’s fuel margin meaningfully from Q2 to Q4 2023.

“This is a momentous event. The construction of this plant brings together more than 40 years of expertise in electrolysis,” says Andy Marsh. “This hydrogen plant reinforces Plug’s dominance in green hydrogen. Congratulations to the Plug team for yet another pioneering milestone.”

Sanjay Shrestha adds, “The valuable insights gained from our Georgia facility combined with our expanded electrolyzer manufacturing capacity gives Plug an unmatched competitive edge. Plug is excited to showcase the plant that will help ensure demand as customers expedite adoption of green hydrogen and decarbonize multiple different industries.

Slides from the event may be accessed via the investor relations section of the company’s website at https://www.ir.plugpower.com/events-and-presentations/default.aspx.

Safe Harbor Statement

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“Plug”), including but not limited to statements about Plug’s belief that the Georgia plant will strengthen its long-term position as the global leader in green hydrogen production; Plug’s belief that its fuel margin loss will be cut meaningfully as the Georgia plant produces at full capacity and its belief that the Georgia plant will provide a steady supply of clean energy to meet customer demands; Plug’s ability to realize its expansion plans that are underway in the Georgia plant; Plug’s belief that the insights gained from its Georgia plant will provide the company with a unique and competitive edge and result in design optimization and lower capital expenditure for its other plants; ; Plug’s ability to execute on its strategies to build an end-to-end green hydrogen ecosystem and expedite customer adoption of green hydrogen; Plug’s ability to meet its anticipated hydrogen network and outputs by 2025; Plug’s ability to continue to expand manufacturing capabilities and improve supply chain issues; Plug’s ability to continue to deliver on expanding its green hydrogen network and capacity; and the scalability of Plug’s hydrogen plants.   You can identify the forward-looking statements by forward-looking words such as “anticipate,” “believe,” “could,” “continue,” “estimate,” “expect,” “forecast,” “intend,” “may,” “should,” “will,” “would,” “plan,” “projected,” “target” or the negative of such words or other similar words or phrases. Plug believes that it is important to communicate its future expectations to investors. Such statements should not be read as a guarantee of future performance or results. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements, including that Plug continues to incur losses and might never achieve or maintain profitability, that Plug will need to raise additional capital to fund its operations and such capital may not be available to the company, global economic uncertainty, including inflationary pressures, fluctuating interest rates, bank failures, and supply chain disruptions, ensuring timely construction and completion of hydrogen generation projects, which may be delayed due to the Company’s inexperience with these project types, supply chain issues, and federal, state, and local permitting and regulatory issues and that Plug’s lack of extensive experience in manufacturing, and marketing of certain of its products may impact its ability to manufacture and market products on a profitable and large-scale commercial basis. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug’s public filings with the Securities and Exchange Commission (the “SEC”), including the “Risk Factors” section of Plug’s Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023 and June 30,2023, and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update such statements as a result of new information except as may be required by law.

About Plug

Plug is building an end-to-end green hydrogen ecosystem, from production, storage and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology, the company has deployed more than 60,000 fuel cell systems and over 180 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen.

With plans to build and operate a green hydrogen highway across North America and Europe, Plug is building a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and multiple green hydrogen production plants that will yield 500 tons of liquid green hydrogen daily by year end 2025. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility, power generation, and industrial applications. For more information, visit www.plugpower.com.

MEDIA CONTACT

Kristin Monroe
Allison+Partners
[email protected]



TFF Pharmaceuticals to Participate in the H.C. Wainwright 25th Annual Global Investment Conference – September 11-13, 2023

FORT WORTH, Texas, Aug. 23, 2023 (GLOBE NEWSWIRE) — TFF Pharmaceuticals, Inc. (NASDAQ: TFFP), a clinical-stage biopharmaceutical company focused on developing and commercializing innovative drug products based on its patented Thin Film Freezing (TFF) technology platform, today announced that CEO Harlan Weisman, M.D. will be presenting a corporate overview at the H.C. Wainwright 25th Annual Global Investment Conference being held September 11-13, 2023. Company management will also be participating in one-on-one meetings during the conference.

H.C. Wainwright 25th Annual Global Investment Conference – September 11-13, 2023

Format: TFF Pharmaceuticals, Inc. Corporate Presentation
   
Date/Time: Available on-demand Monday, September 11, 2023 at 7:00 AM ET
   
Participant: Harlan Weisman, M.D., Chief Executive Officer
   
Location: Lotte New York Palace Hotel, New York City, NY
   
Webcast Link: Register here
   

Please contact your H.C. Wainwright representative to schedule one-on-one meetings with the management team during the conference. A replay of the corporate presentation will be available for 90 days on the Events section of the TFF website.

ABOUT TFF PHARMACEUTICALS’ THIN FILM FREEZING (TFF) TECHNOLOGY

TFF Pharmaceuticals’ proprietary Thin Film Freezing (TFF) technology allows for the transformation of both existing compounds and new chemical entities into dry powder formulations exhibiting unique characteristics and benefits. The TFF process is a particle engineering process designed to generate dry powder particles with advantageous properties for inhalation, as well as parenteral, nasal, oral, topical and ocular routes of administration. The process can be used to engineer powders for direct delivery to the site of need, circumventing challenges of systemic administration and leading to improved bioavailability, faster onset of action, and improved safety and efficacy. The ability to deliver therapies directly to the target organ, such as the lung, allows TFF powders to be administered at lower doses compared to oral drugs, reducing unwanted toxicities and side effects. Laboratory data suggests the aerodynamic properties of the powders created by TFF can deliver as much as 75% of the dose to the deep lung. TFF does not introduce heat, shear stress, or other forces that can damage more complex therapeutic components, such as fragile biologics, and instead enables the reformulation of these materials into easily stored and temperature-stable dry powders, making therapeutics and vaccines more accessible for distribution worldwide. The advantages of TFF can be used to enhance traditional delivery or combined to enable next-generation pharmaceutical products.

ABOUT TFF PHARMACEUTICALS

TFF Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company engaging patented rapid freezing technology to develop and transform medicines into potent dry powder formulations for better efficacy, safety, and stability. The company’s versatile TFF technology platform has broad applicability to convert most any drug, including vaccines, small and large molecules, and biologics, into an elegant dry powder highly advantageous for inhalation, or for topical delivery to the eyes, nose and topically to the skin. TFF Pharmaceuticals has two lead drug candidates in the clinic: TFF VORI (Voriconazole Inhalation Powder) and TFF TAC (Tacrolimus Inhalation Powder). The Company continues collaborations with a broad array of pharmaceutical companies, academic institutions, and government partners to revolutionize healthcare around the globe. The TFF Platform is protected by 120+ patents issued or pending in the U.S. and internationally. To learn more about TFF Pharmaceuticals and its product candidates, visit the Company’s website at https://tffpharma.com.

Safe Harbor

This press release contains forward-looking statements regarding TFF Pharmaceuticals, Inc., including the benefits of the Company’s TFF platform and the Company’s plans to add to its existing pipeline of product candidates. Those forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially. Among those factors are: (i) the risk that the Company may not be able to successfully conclude clinical testing or obtain pre-market approval of any of its dry powder product candidates, (ii) success in early phases of pre-clinical and clinical trials does not ensure that later clinical trials will be successful, and interim results of a clinical trial do not necessarily predict final results, (iii) no drug product incorporating the TFF platform has received FDA pre-market approval or otherwise been incorporated into a commercial drug product, (iv) the Company has no current agreements or understandings with any large pharmaceutical companies for the development of a drug product incorporating the TFF Platform, (v) the risk that the Company will not be able to conclude a long-term commercial agreement with any third-party, and (vi) those other risks disclosed in the section “Risk Factors” included in the Company’s Quarterly Report on Form 10-Q filed with the SEC on May 11, 2023. TFF Pharmaceuticals cautions readers not to place undue reliance on any forward-looking statements. TFF Pharmaceuticals does not undertake, and specifically disclaims, any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by law.

Investor
Relations
Contact:

Corey Davis, Ph.D.
LifeSci Advisors
(212) 915-2577
[email protected]

Source: TFF Pharmaceuticals, Inc.



REX American Resources to Report Fiscal 2023 Q2 Results and Host a Conference Call and Webcast on Wednesday, August 30

REX American Resources to Report Fiscal 2023 Q2 Results and Host a Conference Call and Webcast on Wednesday, August 30

DAYTON, Ohio–(BUSINESS WIRE)–
REX American Resources Corporation (NYSE American: REX), a leading ethanol company, announced today that it will report its fiscal 2023 second quarter financial results on Wednesday, August 30, pre-market and will host a conference call and webcast at 11:00 a.m. ET that morning to review the results.

To access the conference call, interested parties may dial 212/231-2932 (domestic and international callers). Participants can also listen to a live webcast of the call by going to the Investors section on the REX website at www.rexamerican.com. A webcast replay will be available for 30 days following the live event.

About REX American Resources Corporation

REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 688 million gallons of ethanol over the twelve-month period ended April 30, 2023. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended April 30, 2023) by the ethanol production facilities in which it has ownership interests was approximately 266 million gallons. Further information about REX is available at www.rexamerican.com.

Douglas Bruggeman

Chief Financial Officer

937/276‑3931

Joseph Jaffoni, Norberto Aja

JCIR

212/835-8500

[email protected]

KEYWORDS: Ohio United States North America

INDUSTRY KEYWORDS: Oil/Gas Natural Resources Energy Other Natural Resources Other Energy

MEDIA:

Logo
Logo

Kohl’s Reports Second Quarter Fiscal 2023 Financial Results

Kohl’s Reports Second Quarter Fiscal 2023 Financial Results

MENOMONEE FALLS, Wis.–(BUSINESS WIRE)–
Kohl’s Corporation (NYSE:KSS) today reported results for the second quarter ended July 29, 2023.

  • Net sales decreased 4.8% and comparable sales decreased 5.0%
  • Diluted earnings per share of $0.52
  • Inventory declined 14%
  • Reaffirms full year 2023 financial outlook
  • Remains committed to strengthening balance sheet and to maintaining current dividend

Tom Kingsbury, Kohl’s chief executive officer, said, “Our second quarter earnings were in line with our expectations. We maintained strong sales momentum in Sephora at Kohl’s, reduced inventory by 14%, and managed expenses tightly. Further, solid cash flow generation allowed us to reduce our borrowings in the period.”

“Many of our strategic efforts are just underway, which we expect will contribute incrementally in the back half of the year, and even more so in 2024 and beyond. We have enhanced the store experience and recently opened an additional 200 Sephora at Kohl’s shops, and are taking steps to further optimize our assortment and simplify our value strategies. Looking ahead, we are reaffirming our 2023 guidance and remain confident in our longer-term opportunity. I want to thank the entire Kohl’s team for their efforts to support and drive improved Kohl’s performance,” Kingsbury continued.

Second Quarter 2023 Results

Comparisons refer to the 13-week period ended July 29, 2023 versus the 13-week period ended July 30, 2022

  • Net sales decreased 4.8% year-over-year, to $3.7 billion, with comparable sales down 5.0%.
  • Gross margin as a percentage of net sales was 39.0%, a decrease of 61 basis points.
  • Selling, general & administrative (SG&A) expenses increased 1.6% year-over-year, to $1.3 billion. As a percentage of total revenue, SG&A expenses were 33.5%, an increase of 208 basis points year-over-year.
  • Operating income was $163 million compared to $266 million in the prior year. As a percentage of total revenue, operating income was 4.2%, a decrease of 233 basis points year-over-year.
  • Net income was $58 million, or $0.52 per diluted share. This compares to net income of $143 million, or $1.11 per diluted share in the prior year.
  • Inventory was $3.5 billion, a decrease of 14% year-over-year.
  • Operating cashflow was $430 million.

Six Months Fiscal Year 2023 Results

Comparisons refer to the 26-week period ended July 29, 2023 versus the 26-week period ended July 30, 2022

  • Net sales decreased 4.1% year-over-year, to $7.0 billion, with comparable sales down 4.7%.
  • Gross margin as a percentage of net sales was 39.0%, a decrease of 1 basis point.
  • Selling, general & administrative (SG&A) expenses decreased 1.3% year-over-year, to $2.5 billion. As a percentage of total revenue, SG&A expenses were 34.1%, an increase of 103 basis points year-over-year.
  • Operating income was $261 million compared to $348 million in the prior year. As a percentage of total revenue, operating income was 3.5%, a decrease of 96 basis points year-over-year.
  • Net income was $72 million, or $0.65 per diluted share. This compares to net income of $157 million, or $1.22 per diluted share in the prior year.
  • Operating cashflow was $228 million.

2023 Financial and Capital Allocation Outlook

For the full year 2023, the Company reaffirms its financial outlook and currently expects the following:

  • Net sales: A decrease of (2%) to (4%), includes the impact of the 53rd week which is worth approximately 1% year-over-year.
  • Operating margin: Approximately 4.0%.
  • Diluted earnings per share: In the range of $2.10 to $2.70, excluding any non-recurring charges.
  • Capital Expenditures: $600 million to $650 million, including expansion of its Sephora partnership and store refresh activity.
  • Dividend: On August 8, 2023, Kohl’s Board of Directors declared a quarterly cash dividend on the Company’s common stock of $0.50 per share. The dividend is payable September 20, 2023 to shareholders of record at the close of business on September 6, 2023.

Second Quarter 2023 Earnings Conference Call

Kohl’s will host its quarterly earnings conference call at 9:00 am ET on August 23, 2023. A webcast of the conference call and the related presentation materials will be available via the Company’s web site at investors.kohls.com, both live and after the call.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “anticipates,” “plans,” or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause the Company’s actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks described more fully in Item 1A in the Company’s Annual Report on Form 10-K, which are expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC. Forward-looking statements relate to the date initially made, and the Company undertakes no obligation to update them.

About Kohl’s

Kohl’s (NYSE: KSS) is a leading omnichannel retailer built on a foundation that combines great brands, incredible value and convenience for our customers. Kohl’s serves millions of families in our more than 1,100 stores in 49 states, online at Kohls.com, and through our Kohl’s App. For a list of store locations or to shop online, visit Kohls.com. For more information about Kohl’s impact in the community or how to join our winning team, visit Corporate.Kohls.com.

KOHL’S CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

 

Three Months Ended

Six Months Ended

(Dollars in Millions, Except per Share Data)

July 29, 2023

July 30, 2022

July 29, 2023

July 30, 2022

Net sales

$ 3,678

$ 3,863

$ 7,033

$ 7,334

Other revenue

217

224

433

468

Total revenue

3,895

4,087

7,466

7,802

Cost of merchandise sold

2,242

2,332

4,289

4,472

Gross margin rate

39.0%

39.6%

39.0%

39.0%

Operating expenses:

 

 

 

 

Selling, general, and administrative

1,304

1,283

2,542

2,576

As a percent of total revenue

33.5%

31.4%

34.1%

33.0%

Depreciation and amortization

186

206

374

406

Operating income

163

266

261

348

Interest expense, net

89

77

173

145

Income before income taxes

74

189

88

203

Provision for income taxes

16

46

16

46

Net income

$ 58

$ 143

$ 72

$ 157

Average number of shares:

 

 

 

 

Basic

110

127

110

127

Diluted

111

128

111

129

Earnings per share:

 

 

 

 

Basic

$ 0.52

$ 1.13

$ 0.65

$ 1.24

Diluted

$ 0.52

$ 1.11

$ 0.65

$ 1.22

KOHL’S CORPORATION

CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

(Dollars in Millions)

July 29, 2023

July 30, 2022

Assets

 

 

Current assets:

 

 

Cash and cash equivalents

$ 204

$ 222

Merchandise inventories

3,474

4,034

Other

296

374

Total current assets

3,974

4,630

Property and equipment, net

7,945

8,228

Operating leases

2,493

2,296

Other assets

382

469

Total assets

$ 14,794

$ 15,623

Liabilities and Shareholders’ Equity

 

 

Current liabilities:

 

 

Accounts payable

$ 1,376

$ 1,497

Accrued liabilities

1,246

1,426

Borrowings under revolving credit facility

560

79

Current portion of:

 

 

Long-term debt

111

164

Finance leases and financing obligations

84

96

Operating leases

93

108

Total current liabilities

3,470

3,370

Long-term debt

1,637

1,747

Finance leases and financing obligations

2,730

2,830

Operating leases

2,777

2,568

Deferred income taxes

121

194

Other long-term liabilities

324

370

Shareholders’ equity:

3,735

4,544

Total liabilities and shareholders’ equity

$ 14,794

$ 15,623

KOHL’S CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

Six Months Ended

(Dollars in Millions)

July 29, 2023

July 30, 2022

Operating activities

 

 

Net income

$ 72

$ 157

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

 

 

Depreciation and amortization

374

406

Share-based compensation

20

26

Deferred income taxes

(7)

(12)

Non-cash lease expense

48

56

Other non-cash items

(2)

5

Changes in operating assets and liabilities:

 

 

Merchandise inventories

(283)

(964)

Other current and long-term assets

61

(29)

Accounts payable

46

(185)

Accrued and other long-term liabilities

(52)

51

Operating lease liabilities

(49)

(57)

Net cash provided by (used in) operating activities

228

(546)

Investing activities

 

 

Acquisition of property and equipment

(338)

(548)

Proceeds from sale of real estate

4

4

Other

(1)

Net cash used in investing activities

(335)

(544)

Financing activities

 

 

Net borrowings under revolving credit facility

475

79

Treasury stock purchases

(158)

Shares withheld for taxes on vested restricted shares

(13)

(20)

Dividends paid

(110)

(127)

Repayment of long-term borrowings

(164)

Finance lease and financing obligation payments

(47)

(55)

Proceeds from financing obligations

17

5

Proceeds from stock option exercises

1

Net cash provided by (used in) financing activities

158

(275)

Net increase (decrease) in cash and cash equivalents

51

(1,365)

Cash and cash equivalents at beginning of period

153

1,587

Cash and cash equivalents at end of period

$ 204

$ 222

 

Investor Relations:

Mark Rupe, (262) 703-1266, [email protected]

Media:

Jen Johnson, (262) 703-5241, [email protected]

KEYWORDS: Wisconsin United States North America

INDUSTRY KEYWORDS: Men Online Retail Family Discount/Variety Department Stores Consumer Fashion Teens Cosmetics Parenting Retail Children Women

MEDIA:

Logo
Logo

Ziff Davis to Participate in One Investor Conference in September

Ziff Davis to Participate in One Investor Conference in September

NEW YORK–(BUSINESS WIRE)–
Ziff Davis, Inc. (NASDAQ: ZD), today announced its participation in one investor conference in September.

Details of the conference are as follows:

Citi’s 2023 Global Technology Conference

Location: Hilton Hotel, New York, NY

Date and time: September 8, 2023, 9:45 am (ET)

Webcast: https://kvgo.com/2023-global-technology-conference/ziff-davis-september

About Ziff Davis

Ziff Davis (NASDAQ: ZD) is a vertically focused digital media and internet company whose portfolio includes leading brands in technology, shopping, gaming and entertainment, connectivity, health, cybersecurity, and martech. For more information, visit www.ziffdavis.com.

Alan Steier

Investor Relations

Ziff Davis, Inc.

[email protected]

Rebecca Wright

Corporate Communications

Ziff Davis, Inc.

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Electronic Commerce Technology General Health Online Digital Marketing Content Marketing Retail Electronic Games Publishing Entertainment Public Relations/Investor Relations Marketing Media Security Communications Artificial Intelligence Other Technology Software Health Internet Online Retail

MEDIA:

Logo
Logo

Janus International to Participate in Upcoming Investor Conferences

Janus International to Participate in Upcoming Investor Conferences

TEMPLE, Ga.–(BUSINESS WIRE)–
Janus International Group, Inc. (NYSE: JBI) (“Janus” or the “Company”), a leading provider of cutting-edge access control technologies and building product solutions for the self-storage and other commercial and industrial sectors, today announced that senior management of the Company will participate in the following upcoming investor conferences:

  • Jefferies Industrials Conference, September 6, 2023;

  • Morgan Stanley 11th Annual Laguna Conference, September 12, 2023

About Janus International Group

Janus International Group, Inc. (www.JanusIntl.com) is a leading global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including: roll-up and swing doors, hallway systems, relocatable storage units and facility and door automation technologies. The Janus team operates out of several U.S. locations and six locations internationally.

Investor Contacts, Janus

John Rohlwing

Vice President, Investor Relations, FP&A & M&A, Janus International

770-562-6399

[email protected]

Media Contacts, Janus

Suzanne Reitz

Vice President of Marketing, Janus International

770-746-9576

[email protected]

KEYWORDS: United States North America Georgia

INDUSTRY KEYWORDS: Construction & Property Other Manufacturing Building Systems Manufacturing

MEDIA: