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IIROC Trading Resumption – PCLO.WT

Canada NewsWire

VANCOUVER, BC, March 25, 2021 /CNW/ – Trading resumes in:

Company: Pharmacielo Ltd.

TSX-Venture Symbol: PCLO.WT

All Issues: No

Resumption (ET): 9:30 AM3/26/2021

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

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Arbor Realty Trust Announces Public Offering of Common Stock

UNIONDALE, N.Y., March 25, 2021 (GLOBE NEWSWIRE) — Arbor Realty Trust, Inc. (the “Company”) (NYSE: ABR) announced today that it plans to make a public offering of 7,000,000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its common stock.

The Company intends to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes. The Company also intends to use a portion of the net proceeds from this offering to purchase (i) 350,000 shares of its common stock from its Chief Executive Officer, Arbor Commercial Mortgage, LLC and/or estate planning family vehicles established by its Chief Executive Officer (or 402,500 shares of its common stock if the underwriters exercise their option to purchase additional shares in full), (ii) 150,000 shares of its common stock from its Chief Financial Officer, (iii) 100,000 shares of its common stock from its Executive Vice President, Treasury and Servicing and (iv) 200,000 shares of its common stock from its Executive Vice President, Structured Securitization, at the same price the underwriters will purchase the shares in this offering.

J.P. Morgan, JMP Securities and Raymond James are joint book-running managers for the offering.

The offering will be made pursuant to an effective automatic shelf registration statement, previously filed by the Company with the Securities and Exchange Commission (“SEC”). The offering of these securities will be made only by means of a prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus related to the offering may be obtained, when available, by contacting J.P. Morgan Securities LLC, Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected]; JMP Securities LLC, 600 Montgomery Street, 10th Floor, San Francisco, CA 94111, Attention: Prospectus Department, or by calling (415) 835-8985, or by email at [email protected]; or Raymond James & Associates, Inc., Attention: Syndicate, 880 Carillon Parkway St. Petersburg, FL 33716, by telephone at (800) 248-8863, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.


About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. (NYSE: ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Headquartered in New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a Fannie Mae DUS® lender and Freddie Mac Optigo Seller/Servicer. Arbor’s product platform also includes CMBS, bridge, mezzanine and preferred equity lending.


Safe Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the proposed offering and the anticipated use of the net proceeds from the offering. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, risks and uncertainties related to the completion of the offering on the anticipated terms or at all, market conditions, the satisfaction of customary closing conditions related to the offering, changes in economic conditions generally, and the real estate markets specifically, in particular, due to the uncertainties created by the COVID-19 pandemic, continued ability to source new investments, changes in interest rates and/or credit spreads, and other risks detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its other reports filed with the SEC. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.

   
Contacts:

Arbor Realty Trust, Inc.
Paul Elenio, Chief Financial Officer
516-506-4422
[email protected]		 Investors:
The Ruth Group
Daniel Kontoh-Boateng/James Salierno
646-536-7019/7028
[email protected]
[email protected]
   



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Prologis to Announce First Quarter 2021 Results April 19

PR Newswire

SAN FRANCISCO, March 25, 2021 /PRNewswire/ — Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, will host a webcast and conference call with senior management to discuss first quarter results, current market conditions and future outlook on Monday, April 19, 2021, at 9:00 a.m. PT/12:00 p.m. ET.

To access a live broadcast of the call, please dial +1 (833) 968-2252 (toll-free from the United States and Canada) or +1 (778) 560-2807 (from all other countries) and enter conference code 8881394. A live webcast can be accessed from the Investor Relations section of www.prologis.com.

A telephonic replay will be available April 19-May 3 at +1 (800) 585-8367 (from the United States and Canada) or +1 (416) 621-4642 (from all other countries) using conference code 8881394. The webcast replay will be posted in the Investor Relations section of www.prologis.com under “Events & Presentations”.

About Prologis
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,500 customers principally across two major categories: business-to-business and retail/online fulfillment.

Forward-Looking Statements
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management’s beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” and “estimates,” including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic and political climates; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties; (v) maintenance of real estate investment trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to the current coronavirus pandemic; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading “Risk Factors.” We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.

 

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SOURCE Prologis, Inc.

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ManifestSeven Announces Date of Fourth Quarter and Fiscal Year 2020 Earnings Release and Conference Call

PR Newswire

IRVINE, Calif., March 25, 2021 /PRNewswire/ — ManifestSeven Holdings Corporation (CSE: MSVN; OTCMKTS: MNFSF) (“M7” or the “Company“), California’s first integrated omnichannel platform for legal cannabis, is pleased to announce it will release its fourth quarter and fiscal year 2020 financial results for the period ended November 30, 2020 on Wednesday, March 31, 2021, at approximately 7:30 a.m. EST.

M7 will host a related conference call, accessible via telephone and the internet, on Wednesday, March 31, 2021, beginning at 11:00 a.m. EST to discuss the financial results and business outlook.

Sturges Karban, Chief Executive Officer, and Jordan Gerber, Chief Financial Officer, will review the Company’s fourth quarter and fiscal year 2020 financial results and conduct a question-and-answer session after the prepared remarks.

Conference Call Dial-In Numbers:

  • Toll-Free:  1-877-423-9813
  • Toll / International:  1-201-689-8573

The call will be available via webcast on M7’s investor page of the Company website at https://www.manifest7.com/investors/ or at this link. Please visit the website at least 15 minutes before the call to register, download, and install any necessary audio software. A replay of the call will be available on M7’s investor page after the conference call has ended.

About ManifestSeven Holdings Corporation



ManifestSeven Holdings Corporation

 (CSE: MSVN; OTCMKTS: MNFSF) (“M7” or the “Company“) disrupts the California cannabis landscape by seamlessly integrating proprietary distribution, retail, and delivery operations into a unified statewide platform that supports compliant and efficient commerce, both for cannabis enterprises and consumers. M7 offers local on-demand delivery through a growing portfolio of delivery hubs and storefront dispensaries in the state’s major metropolitan markets through its direct-to-consumer division, Weden. Through its business-to-business division, Highlanders Distribution, the Company provides a comprehensive suite of commercial and compliant services to licensed cannabis cultivators, manufacturers, distributors, and retailers operating throughout California. M7’s 1-800-CANNABIS portal ties the Company’s integrated cannabis operations together with a centralized gateway through which businesses and consumers can access M7’s comprehensive suite of products and solutions. M7 is a publicly listed company on the Canadian Securities Exchange (“CSE“) trading under the ticker symbol “MSVN”. Additional information is available under the Company’s SEDAR profile at www.sedar.com.

For the latest news, activities, and media coverage, please visit www.manifest7.com. To receive Company updates and be added to the email distribution list, please sign up here, or connect with us on LinkedIn, Twitter, YouTube, or Telegram.

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SOURCE ManifestSeven

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Gridsum Holding Inc. Announces Completion of Merger

PR Newswire

BEIJING, March 25, 2021 /PRNewswire/ — Gridsum Holding Inc. (“Gridsum” or the “Company”) (NASDAQ: GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence (“AI”) solutions in China, today announced the completion of the merger with Gridsum Growth Inc. (“Merger Sub”), a wholly-owned subsidiary of Gridsum Corporation (“Parent”), pursuant to the previously announced agreement and plan of merger, dated as of September 30, 2020 (the “Merger Agreement”), by the Company, Parent and Merger Sub. As a result of the merger, the Company became a wholly-owned subsidiary of Parent and will cease to be a publicly traded company.

Under the terms of the Merger Agreement, each of the Company’s ordinary shares, par value US$0.001 per share (each a “Share”) issued and outstanding immediately prior to the effective time of the merger, has been cancelled in exchange for the right to receive US$2.00 in cash per Share without interest, and, for the avoidance of doubt, each of the Company’s American depositary shares (each an “ADS”), each representing one Class B ordinary Share, issued and outstanding immediately prior to the effective time of the merger, has been cancelled in exchange for the right to receive US$2.00 in cash per ADS without interest (less $0.05 per ADS cancellation fees), in each case, net of any applicable withholding taxes, other than (a) Shares (including Shares represented by ADSs) owned by Parent, Merger Sub or the Company (as treasury, if any) or by any of their direct or indirect wholly-owned subsidiaries, (b) Shares (including Shares represented by ADSs), if any, reserved (but not yet allocated) by the Company for settlement upon exercise or vesting of any options (the “Options”) or restricted share units (the “Restricted Share Units”) of the Company issued under its share incentive plans, (c) Shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their dissenter rights under the Cayman Islands Companies Law, and (d) Shares (including Shares represented by ADSs), the Options and Restricted Share Units held by certain rollover shareholders (Shares described under (a) through (d) above are collectively referred to herein as the “Excluded Shares”).

Shareholders of record as of the effective time of the merger who are entitled to the merger consideration will receive a letter of transmittal and instructions on how to surrender their share certificates in exchange for the merger consideration (net of any applicable withholding taxes). Shareholders should wait to receive the letter of transmittal before surrendering their share certificates. As soon as practicable after this announcement, CITIBANK, N.A. (the “ADS Depositary”) will call for the surrender of all ADSs (other than any ADS that represents Excluded Shares) for delivery of the merger consideration. Upon the surrender of ADSs, the ADS Depositary will pay to the surrendering holders US$2.00 per ADS surrendered in cash without interest (less $0.05 per ADS cancellation fees) and net of any applicable withholding taxes.

The Company also announced today that it requested that trading of its ADSs on the NASDAQ Global Select Market (the “NASDAQ”) be suspended as of March 25, 2021. The Company requested that the NASDAQ file a Form 25 with the U.S. Securities and Exchange Commission (the “SEC”) notifying the SEC of the delisting of its ADSs on the NASDAQ and the deregistration of the Company’s registered securities. The deregistration will become effective 90 days after the filing of Form 25 or such shorter period as may be determined by the SEC. The Company intends to terminate its reporting obligations under the Securities Exchange Act of 1934, as amended, by promptly filing a Form 15 with the SEC. The Company’s obligation to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will terminate once the deregistration becomes effective.


About Gridsum

Gridsum Holding Inc. (NASDAQ: GSUM) is a leading provider of cloud-based big-data analytics and AI solutions for multinational and domestic enterprises and government agencies in China. Gridsum’s core technology, the Gridsum Big Data Platform and the Gridsum Prophet: Enterprise AI Engine, is built on a distributed computing framework and performs real-time multi-dimensional correlation analysis of both structured and unstructured data. This enables Gridsum’s customers to identify complex relationships within their data and gain new insights that help them make better business decisions. The Company is named “Gridsum” to symbolize the combination of distributed computing (Grid) and analytics (sum). As a digital intelligence pioneer, the Company’s mission is to help enterprises and government organizations in China use data in new and powerful ways to make better-informed decisions and be more productive.

For more information, please visit http://www.gridsum.com/.


Safe Harbor Statement

This announcement contains forward-looking statements. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Forward-looking statements involve inherent risks and uncertainties. Many factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the substantial doubt about the Company’s ability to continue as a going concern, duration and impact of the COVID-19 pandemically, and other risks and uncertainties discussed in documents filed with the U.S. Securities and Exchange Commission by the Company. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Gridsum undertakes no duty to update such information except as required under applicable law.

Investor Relations

Gridsum
[email protected]

Christensen

In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
Email: [email protected]

In U.S. 
Mr. Tip Fleming 
Phone: +1 917 412 3333 
Email: [email protected]

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SOURCE Gridsum Holding Inc.

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Tekla World Healthcare Fund Announces Renewal of Share Repurchase Program

Tekla World Healthcare Fund Announces Renewal of Share Repurchase Program

BOSTON–(BUSINESS WIRE)–
Tekla World Healthcare Fund (the “Fund”) announced today that its Board of Trustees authorized a renewal of its share repurchase program. The current share repurchase program allows the Fund to purchase in the open market up to 12% of its outstanding common shares for a one-year period ending July 14, 2021. The renewal will allow the Fund to purchase in the open market up to 12% of its outstanding common shares for a one-year period ending July 14, 2022. The Board authorized the share repurchase program as a result of its periodic review of the options available to enhance shareholder value and potentially reduce the discount between the market price of the Fund’s shares and the net asset value per share. The share repurchase program is intended to increase the Fund’s net asset value per share and could also have the benefit of providing additional liquidity in the trading of shares.

The amount and timing of repurchases will be at the discretion of Tekla Capital Management LLC, the investment adviser to the Fund. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts or on any specific date. The Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. There is no assurance that the market price of the Fund’s shares, either absolute or relative to net asset value, will increase as a result of any share repurchases. The Board will monitor the effect of the share repurchase program on the Fund’s market prices and net asset value per share, expense ratio and investment strategy over time.

Tekla World Healthcare Fund (NYSE: THW) is a closed-end fund that invests in companies in the healthcare industry. Tekla Capital Management LLC, based in Boston, serves as investment adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.

For additional information, please consult www.teklacap.com or call (877) 855-3434.

Destra Capital Advisors LLC

(877) 855-3434

www.teklacap.com

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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CymaBay Reports Fourth Quarter and Year End 2020 Financial Results and Provides Corporate Update

Actively recruiting patients in two global, clinical studies evaluating seladelpar in primary biliary cholangitis (PBC):

  • RESPONSE, a 52-week, randomized, placebo-controlled, Phase 3 registrational study
  • ASSURE, an open-label, long-term study

Two pipeline programs also in clinical development in 2021:

  • Phase 2a study of MBX-2982, a GPR119 agonist, for the prevention of hypoglycemia in patients with type 1 diabetes
  • Phase 1 single and multiple ascending dose study of CB-0406, a non-agonist ligand of PPAR
    γ

Conference call and webcast today at 4:30 p.m. ET

NEWARK, Calif., March 25, 2021 (GLOBE NEWSWIRE) — CymaBay Therapeutics, Inc. (NASDAQ: CBAY), a clinical-stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet need, today announced corporate updates and financial results for the fourth quarter and fiscal year ended December 31, 2020.

In the fourth quarter of 2020 and through early March 2021, CymaBay made significant progress reinitiating the development program for seladelpar in primary biliary cholangitis (PBC). With multiple clinical sites activated, patient recruitment is underway in RESPONSE, a global Phase 3 registrational study evaluating seladelpar in patients with PBC. In addition, we have also initiated ASSURE, an open-label, long-term study of seladelpar in patients with PBC intended to collect additional safety data to support registration.

Sujal Shah, President and CEO of CymaBay, stated, “One year ago today, our work towards finding novel treatments for patients with chronic, inflammatory and metabolic diseases was on hold as we completed the important work of ensuring patient safety before moving forward. Today we have four active clinical studies ongoing across three programs. We continue to make great progress towards restarting our seladelpar development program with RESPONSE as we execute on a focused strategy to complete late-stage development of seladelpar for patients with PBC. Results from our previous Phase 3 study in PBC, ENHANCE, presented at The Liver Meeting® 2020, highlighted the anti-cholestatic, anti-inflammatory and anti-pruritic effects of seladelpar in patients with PBC that we believe support the potential for seladelpar to address key unmet needs for patients suffering from this disease. In addition to our core focus in PBC, we continue to evaluate seladelpar for other indications and are excited about our early-stage pipeline maturing in the coming months.”

Recent Corporate Highlights

  • Initiated RESPONSE, a 52-week, placebo-controlled, randomized, global, Phase 3 registrational study evaluating the safety and efficacy of seladelpar in patients with PBC. This study will target enrolling 180 patients, who have an inadequate response to, or intolerance to, ursodeoxycholic acid, in a 2:1 randomization to oral, once daily seladelpar 10 mg or placebo. The primary outcome measure is the responder rate at 52 weeks. A responder is defined as a patient who achieves an alkaline phosphatase level < 1.67 times the upper limit of normal with at least a 15% decrease from baseline and has a normal level of total bilirubin. Additional key outcomes of efficacy will compare the rate of normalization of alkaline phosphatase at 52 weeks and the level of pruritus at 6-months for patients with moderate to severe pruritus at baseline assessed by a numerical rating scale recorded with an electronic diary.
  • Initiated ASSURE, an open-label, long-term study of seladelpar in patients with PBC intended to collect additional long-term safety data to support registration. The first subjects will consist of patients who have participated in CymaBay’s prior studies of seladelpar in PBC, including the patients who completed the open-label Phase 2 study and enrolled into the previous long-term study and ENHANCE. Patients who complete RESPONSE, and potentially other future PBC studies with seladelpar, will also have the opportunity to enroll in ASSURE.
  • Presented results from two separate studies of seladelpar in patients with PBC and NASH at The Liver Meeting® 2020 as follows:
    • Oral, late-breaking presentation by Professor Gideon Hirschfield, MD, on November 16 highlighting results from ENHANCE, a Phase 3 study of seladelpar in patients with PBC
    • “Poster of Distinction” presentation by Dr. Stephen Harrison, MD, featuring results from a Phase 2 paired-liver biopsy study of seladelpar in patients with NASH
  • In November 2020, we announced a Phase 2a proof-of-pharmacology study to evaluate the potential for MBX-2982, a GPR119 agonist, to prevent hypoglycemia in patients with type 1 diabetes (T1D). The study is being conducted by the AdventHealth Translational Research Institute (TRI) in Orlando, Florida and fully funded by The Leona M. and Harry B. Helmsley Charitable Trust with CymaBay retaining full rights to MBX-2982. TRI commenced startup activities in early 2021 and topline results are currently anticipated in late 2021.
  • Initiated a single and multiple ascending dose study of CB-0406 in healthy subjects to establish its pharmacokinetics, safety and maximum tolerated dose. CB-0406 is a non-agonist ligand of PPARγ that attenuates the expression of inflammatory genes.
  • Held $146.3 million in cash, cash equivalents and short-term investments on December 31, 2020. We believe that cash and investments are sufficient to fund CymaBay’s current operating plan into mid-2022.
  • Due to the ongoing effects of the global coronavirus pandemic, CymaBay continues to conduct its operations remotely for all employees, which has allowed business activities to continue as seamlessly as possible.  CymaBay continues to closely monitor pandemic developments and their associated risks to the business, including the restarting of its clinical development of seladelpar, and will continue to take actions available to mitigate them where possible. Further, all CymaBay’s actions will continue to be guided by a commitment to ensuring the health and safety of its employees as well as patients enrolled in its clinical studies.

Fourth Quarter and Year Ended December 31, 2020 Financial Results

  • Research and development expenses for the three and twelve months ended December 31, 2020 were $10.7 million and $35.9 million, respectively. This compared to R&D expenses of $20.9 million and $83.8 million for the three and twelve months ended December 31, 2019, respectively. Research and development expenses in the three and twelve months ended December 31, 2020 were lower than the corresponding periods in 2019 primarily due to a decline in clinical trial activities related to the termination of our Phase 3 PBC, Phase 2b NASH, and Phase 2 PSC clinical trials, and other studies, after the seladelpar development program was placed on hold from November 2019 through July 2020.   Clinical development of seladelpar in PBC was resumed in late 2020, and these clinical expense reductions were offset in part by increases in clinical trial costs associated with the commencement of RESPONSE and ASSURE, our two new global late-stage clinical trials in PBC.
  • General and administrative expenses for the three and twelve months ended December 31, 2020 were $5.2 million and $17.4 million, respectively. This compared to $4.5 million and $19.2 million for the three and twelve months ended December 31, 2019, respectively. General and administrative expenses in the year 2020 were lower than in 2019 due to lower employee compensation costs following the completion of a reduction-in-force plan in late 2019. General and administrative expenses in the three months ended December 31, 2020 were higher than the corresponding period in 2019 due to higher employee compensation associated with the hiring of additional personnel upon resumption of development of seladelpar in the second half of 2020.
  • Net loss for the three and twelve months ended December 31, 2020 was $15.8 million, or ($0.23) per diluted share, and $51.0 million, or ($0.74) per diluted share, respectively. This compared to net loss of $29.4 million, or ($0.43) per diluted share, and $102.8 million, or ($1.53) per diluted share, in the three and twelve months ended December 31, 2019, respectively. Net loss was lower largely due to decreases in clinical operating expenses which resulted from the temporary clinical hold placed on the seladelpar development program. With development of seladelpar restarted during the second half of 2020, we expect our operating expenses to increase in 2021 as we continue to execute on our clinical development plans.

Conference Call Details

CymaBay will host a conference call today at 4:30 p.m. ET to discuss fourth quarter and fiscal year end 2020 financial results and provide a business update. To access the live conference call, please dial 877-407-0784 from the U.S. and Canada, or 201-689-8560 internationally, Conference ID# 13715944. To access the live and subsequently archived webcast of the conference call, go to the Investors section of the company’s website at http://ir.cymabay.com/events.

About CymaBay

CymaBay Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet medical need.  CymaBay is developing seladelpar, a potent, selective, orally active PPARδ agonist for patients with primary biliary cholangitis (PBC). Seladelpar has received an orphan designation from the US Food and Drug administration (FDA) and the European Medicine Agency (EMA). Seladelpar also received Breakthrough Therapy Designation from the FDA for early stage PBC and PRIority MEdicines (PRIME) status from the EMA. CymaBay is currently commencing a global, Phase 3 registration study of seladelpar for PBC. This study is a 52-week, placebo-controlled, randomized, Phase 3 study to evaluate the safety and efficacy of seladelpar (RESPONSE) in patients with PBC. For more information about RESPONSE, please visit: www.pbcstudies.com.

Cautionary Statements

Any statements made in this press release and accompanying conference call regarding the potential for seladelpar to treat PBC and potentially improve clinical symptoms of the disease, the potential benefits to patients, CymaBay’s expectations and plans regarding its current and future clinical trials, CymaBay’s ability to fund current and planned clinical trials and CymaBay’s anticipated cash runway are forward looking statements that are subject to risks and uncertainties. Actual results and the timing of events regarding the further development of seladelpar could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties, which include, without limitation, risks related to: the success, cost and timing of any of CymaBay’s product development activities, including clinical trials; effects observed in trials to date that may not be repeated in the future; any delays or inability to obtain or maintain regulatory approval of CymaBay’s product candidates in the United States or worldwide; and the ability of CymaBay to obtain sufficient financing to complete development, regulatory approval and commercialization of its product candidates in the United States and worldwide. Additional risks relating to CymaBay are contained in CymaBay’s filings with the Securities and Exchange Commission, including without limitation its most recent Annual Report on Form 10-K and other documents subsequently filed with or furnished to the Securities and Exchange Commission. CymaBay disclaims any obligation to update these forward-looking statements except as required by law.

For additional information about CymaBay visit www.cymabay.com.

Public Relations Contact
:            

Glenn Silver
Lazar-FINN Partners
(973) 818-8198
[email protected] 

Investor Relations Contact:

Hans Vitzthum
LifeSci Advisors, LLC
(617) 430-7578
[email protected]

 
CymaBay Therapeutics, Inc.
Financial Results
(In thousands, except share and per share information)
               
  Quarter Ended   Year Ended
  December 31,   December 31,
  2020   2019   2020   2019
  (unaudited)   (unaudited)        
               
Operating expenses:              
Research and development $ 10,688     $ 20,937     $ 35,882     $ 83,837  
General and administrative   5,186       4,532       17,425       19,238  
Restructuring (benefit) charges   (1 )     5,075       (705 )     5,075  
Total operating expenses   15,873       30,544       52,602       108,150  
               
Loss from operations   (15,873 )     (30,544 )     (52,602 )     (108,150 )
Other income:              
Interest income   122       1,131       1,616       5,342  
Total other income   122       1,131       1,616       5,342  
Net loss $ (15,751 )   $ (29,413 )   $ (50,986 )   $ (102,808 )
               
Basic and diluted net loss per common share $ (0.23 )   $ (0.43 )   $ (0.74 )   $ (1.53 )
               
Weighted average common shares              
outstanding used to calculate              
basic and diluted net loss per common share   68,917,646       68,749,075       68,893,127       67,033,046  
               
       
CymaBay Therapeutics, Inc.
Balance Sheet Data
(in thousands)
               
      December 31,   December 31,    
      2020   2019    
               
               
Cash, cash equivalents and marketable securities   $ 146,323     $ 190,945      
Working capital     141,728       185,287      
Total assets     153,825       205,727      
Total liabilities     11,119       19,379      
Common stock and additional paid-in capital     819,556       812,140      
Total stockholders’ equity     142,706       186,348      
                     



Posted on

Tekla Healthcare Opportunities Fund Announces Renewal of Share Repurchase Program

Tekla Healthcare Opportunities Fund Announces Renewal of Share Repurchase Program

BOSTON–(BUSINESS WIRE)–
Tekla Healthcare Opportunities Fund (the “Fund”) announced today that its Board of Trustees authorized a renewal of its share repurchase program. The current share repurchase program allows the Fund to purchase in the open market up to 12% of its outstanding common shares for a one-year period ending July 14, 2021. The renewal will allow the Fund to purchase in the open market up to 12% of its outstanding common shares for a one year-period ending July 14, 2022. The Board authorized the share repurchase program as a result of its periodic review of the options available to enhance shareholder value and potentially reduce the discount between the market price of the Fund’s shares and the net asset value per share. The share repurchase program is intended to increase the Fund’s net asset value per share and could also have the benefit of providing additional liquidity in the trading of shares.

The amount and timing of repurchases will be at the discretion of Tekla Capital Management LLC, the investment adviser to the Fund. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts or on any specific date. The Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. There is no assurance that the market price of the Fund’s shares, either absolute or relative to net asset value, will increase as a result of any share repurchases. The Board will monitor the effect of the share repurchase program on the Fund’s market prices and net asset value per share, expense ratio and investment strategy over time.

Tekla Healthcare Opportunities Fund (NYSE: THQ) is a closed-end fund that invests in companies in the healthcare industry. Tekla Capital Management LLC, based in Boston, serves as investment adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.

For additional information, please consult www.teklacap.com or call (877) 855-3434.

Destra Capital Advisors LLC

(877) 855-3434

www.teklacap.com

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

Posted on

Tekla Healthcare Investors Announce Renewal of Share Repurchase Program

Tekla Healthcare Investors Announce Renewal of Share Repurchase Program

BOSTON–(BUSINESS WIRE)–
Tekla Healthcare Investors (the “Fund”) announced today that its Board of Trustees authorized a renewal of its share repurchase program. The current share repurchase program allows the Fund to purchase in the open market up to 12% of its outstanding common shares for a one-year period ending July 14, 2021. The renewal will allow the Fund to purchase in the open market up to 12% of its outstanding common shares for a one-year period ending July 14, 2022. The Board authorized the share repurchase program as a result of its periodic review of the options available to enhance shareholder value and potentially reduce the discount between the market price of the Fund’s shares and the net asset value per share. The share repurchase program is intended to increase the Fund’s net asset value per share and could also have the benefit of providing additional liquidity in the trading of shares.

The amount and timing of repurchases will be at the discretion of Tekla Capital Management LLC, the investment adviser to the Fund. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts or on any specific date. The Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. There is no assurance that the market price of the Fund’s shares, either absolute or relative to net asset value, will increase as a result of any share repurchases. The Board will monitor the effect of the share repurchase program on the Fund’s market prices and net asset value per share, expense ratio and investment strategy over time.

Tekla Healthcare Investors (NYSE: HQH) is a closed-end fund that invests in companies in the healthcare industry. Tekla Capital Management LLC, based in Boston, serves as investment adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.

For additional information, please consult www.teklacap.com or call (877) 855-3434.

Destra Capital Advisors LLC

(877) 855-3434

www.teklacap.com

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

Posted on

Tekla Life Sciences Investors Announce Renewal of Share Repurchase Program

Tekla Life Sciences Investors Announce Renewal of Share Repurchase Program

BOSTON–(BUSINESS WIRE)–
Tekla Life Sciences Investors (the “Fund”) announced today that its Board of Trustees authorized a renewal of its share repurchase program. The current share repurchase program allows the Fund to purchase in the open market up to 12% of its outstanding common shares for a one-year period ending July 14, 2021. The renewal will allow the Fund to purchase in the open market up to 12% of its outstanding common shares for a one year-period ending July 14, 2022. The Board authorized the share repurchase program as a result of its periodic review of the options available to enhance shareholder value and potentially reduce the discount between the market price of the Fund’s shares and the net asset value per share. The share repurchase program is intended to increase the Fund’s net asset value per share and could also have the benefit of providing additional liquidity in the trading of shares.

The amount and timing of repurchases will be at the discretion of Tekla Capital Management LLC, the investment adviser to the Fund. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts or on any specific date. The Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. There is no assurance that the market price of the Fund’s shares, either absolute or relative to net asset value, will increase as a result of any share repurchases. The Board will monitor the effect of the share repurchase program on the Fund’s market prices and net asset value per share, expense ratio and investment strategy over time.

Tekla Life Sciences Investors (NYSE: HQL) is a closed-end fund that invests in companies in the life sciences industry. Tekla Capital Management LLC, based in Boston, serves as investment adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker.

For additional information, please consult www.teklacap.com or call (877) 855-3434.

Destra Capital Advisors LLC

(877) 855-3434

www.teklacap.com

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Professional Services Finance

MEDIA: