Market Newsdesk

—Dr.
Munyikwa
Appointed as
Director of Regulatory Affairs—

—Dr. Renegar Appointed as Director, Business Analytics and Operations—

WOBURN, Mass., June 29, 2021 (GLOBE NEWSWIRE) — Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience company, today announced two new hires. Tichafa Munyikwa, Ph.D. has been appointed Director of Regulatory Affairs. In this new role, Dr. Munyikwa will be responsible for developing and executing regulatory strategy for Yield10’s performance and content traits deployed in Camelina. In addition, Nicholas Renegar, Ph.D. has been appointed Director, Business Analytics and Operations. In this new role, Dr. Renegar will be responsible for business analytics and project management as well as supporting Yield10’s business development, supply chain development, and seed operations activities.

“We are delighted to have Tichafa join the Yield10 team as we are scaling up seed production and intensifying our efforts to develop and commercialize performance traits as well as novel traits to produce nutritional oils, meal and PHA bioplastics on our Camelina platform,” said Oliver Peoples, Ph.D., President and Chief Executive Officer of Yield10. “Tichafa’s experience in major agricultural companies as well as with startups provides him with a unique perspective on developing new crops and products for the agricultural sector. We are confident he will make important contributions and provide our team with invaluable strategic insights and guidance on achieving regulatory approval to enable commercialization of our agbiotech crops and products.”

“Nick brings to this role a strong background in food safety and global supply chain analytics, areas we will be focused on as we advance Yield10’s Camelina business plan,” said Dr. Peoples. “We are delighted to welcome Nick to Yield10 and look forward to his contributions as he will serve as an important asset to the team as we expand our seed scale up across Canada, the U.S. and South America and as we intensify our commercial and business development activities.”

Dr. Munyikwa possesses 25 years’ experience working in the agriculture sector in a career spanning crop research and development, global regulatory affairs and management as well as successfully obtaining regulatory approval for several genetically modified crops. From 2018 to 2021, he was Vice President, Global Regulatory Affairs for Trait Biosciences and Pebble Labs. From 2008 to 2018, Dr. Munyikwa held various positions at Syngenta Company in regulatory affairs and trait R&D, most recently as Global Regulatory Affairs Lead for New Technologies and Early Phase Research Projects (2014-2018) and Chair, Plant Breeding Innovations Team, Genome Editing (2013 to 2018). From 1998 to 2007, Dr. Munyikwa was at Monsanto Company (now Bayer) where he joined as a post-doc and became a Senior Research Scientist in the Biotechnology Program in 1999. At Monsanto he was named an inventor on six issued patents and focused on experimental and commercialization strategies for RNAi (gene silencing) technology and mechanisms of plant disease resistance.

In his professional experience, Dr. Munyikwa has been a board member for the International Enzyme Technical Association, North Carolina State University Genetic Engineering & Society Institute, and the Association of African Agricultural Professionals in Diaspora (AAAPD). Dr. Munyikwa earned a Ph.D. at Wageningen University, The Netherlands. He earned an M.S. in Biotechnology – Molecular Biology, Fermentation Technology and a B.S. in Biological Sciences Microbiology, Parasitology, Invertebrate Zoology from the University of Zimbabwe.

Dr. Renegar recently earned a Ph.D. in Operations Research from the MIT Sloan School of Management, Cambridge, MA, where he was advised by Professor Retsef Levi. While pursuing his Ph.D., Dr. Renegar was a member of MIT’s Operations Research Center, and MIT’s Food Supply Chain Analytics and Sensing (FSAS) Initiative. He has conducted and published research in food safety, including supply chain analytics, big data and optimization, with a focus on international supply chains and China. His Doctoral Thesis is entitled “Predictive Analytics and Machine Learning for the Risk-Based Management of Agricultural Supply Chains”. Dr. Renegar has also worked on auction theory and online algorithms, including a research internship at Google, Inc. focused on mechanism design for search ads. Prior to MIT, from 2010 to 2015, Dr. Renegar worked as a Healthcare Consulting Actuarial Analyst at Milliman, Inc. where he utilized predictive analytics to help healthcare organizations plan for the future. Dr. Renegar earned a B.A. in Mathematics and a B.S. in Operations Research at Cornell University.

About Yield10 Bioscience

Yield10 Bioscience, Inc. is an agricultural bioscience company that is using its differentiated trait gene discovery platform, the “Trait Factory”, to develop improved Camelina varieties to produce proprietary seed products, and to discover high value genetic traits for the agriculture and food industries. Our goals are to efficiently establish a high value seed products business based on developing superior varieties of Camelina to produce feedstock oils, nutritional oils, and PHA bioplastics, and to license our yield traits to major seed companies for commercialization in major row crops, including corn, soybean and canola. Yield10 is headquartered in Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon, Canada.

For more information about the company, please visit www.yield10bio.com, or follow the Company on Twitter, Facebook and LinkedIn.

(YTEN-G)

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical, including, without limitation, that Dr. Munyikwa will make important contributions and provide Yield10 with invaluable strategic insights and guidance on achieving regulatory approval to enable commercialization of the Company’s agbiotech crops and products, and that Dr. Renegar will serve as an important asset to Yield10 as the Company expands its seed scale up across Canada, the U.S. and South America and as the Company intensifies its commercial and business development activities, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including the risks and uncertainties detailed in Yield10 Bioscience’s filings with the Securities and Exchange Commission. Yield10 assumes no obligation to update any forward-looking information contained in this press release or with respect to the matters described herein.

Contacts:

Yield10 Bioscience:
Lynne H. Brum, (617) 682-4693, [email protected]

Investor Relations:
Bret Shapiro, (561) 479-8566, [email protected]
Managing Director, CORE IR

Media Inquiries:
Eric Fischgrund, [email protected]
FischTank PR

• First-of-its-kind production part designed to complement high-performance exotic vehicle – delivering unparalleled quality, durability, and luxury
• 3D Systems’ Application Innovation Group, DMP Factory 500, instrumental in delivering novel part

ROCK HILL, S. C., June 29, 2021 (GLOBE NEWSWIRE) — 3D Systems (NYSE:DDD) today announced Rodin Cars, the New Zealand-based manufacturer of the ultimate track car, has selected 3D Systems’ metal additive manufacturing solutions to produce parts for its soon-to-be-released hypercar, the Rodin FZero. Rodin Cars designs and builds completely bespoke single-seat, open-wheel high-performance vehicles that are designed to be faster than contemporary Formula 1 cars. Among the hundreds of metal parts Rodin Cars is additively manufacturing for the Rodin FZero, they are producing a first-of-its-kind 8-speed sequential gearbox with a hydraulically controlled differential. This completely custom component can only be produced using additive manufacturing and was made possible through the collaboration of Rodin Cars’ design prowess and 3D Systems’ deep application expertise and additive manufacturing leadership.

A gearbox created using traditional manufacturing methods would be cast out of Magnesium or machined from billet material. The resulting component would not only be slow to produce, but heavier and would not withstand the rigors presented by the track. Rodin Cars wanted to flip this design into a true innovation – the ultimate component produced from 3D printed Titanium that would be compact, light, strong, and durable.

Rodin Cars released their first high-performance track car – the Rodin FZed – in 2019 with a gearbox designed by Ricardo, a UK-based engineering firm. For the new Rodin FZero, Rodin Cars envisioned a brand new gearbox with specific gear ratios and differential produced from Titanium to enhance the exotic reputation of this new high-performance vehicle. The 18-month design process – a collaboration between Rodin Cars for the casings and Ricardo for the internals – resulted in an unmatched gearbox with a hydraulically controlled differential that can only be produced using additive manufacturing due to its ability to directly 3D-print the necessary internal galleries and thin-wall bearing and mount structures. Rodin Cars’ engineers worked alongside members of 3D Systems’ Application Innovation Group (AIG) in Littleton, Colorado, and Leuven, Belgium to bring this unique design to life.

The application engineers that comprise 3D Systems’ AIG possess deep expertise not only in additive manufacturing but in high-value applications across a variety of industries – including motorsports. The teams’ engineering know-how combined with 3D Systems’ industry-leading direct metal printing (DMP) technology helped facilitate the production of the new gearbox that includes 2mm thick walls and a total weight of 68 kilograms. The application engineers in Littleton optimized the gearbox print design details for additive manufacturing at the large scale achievable on the DMP Factory 500 and produced the first part on its DMP Factory 500 in Leuven. This industry-leading solution – featuring a vacuum chamber to ensure the lowest O₂ content – enables the production of seamless large parts as large as 500mm x 500mm x 500mm. This results in the highest surface quality for metal 3D printed parts with outstanding material properties. 3D Systems’ AIG has successfully completed the technology transfer to Rodin Cars for full production. Rodin Cars recently installed a DMP Factory 500 on-site at its newly expanded facility and will produce the gearbox, as well as hundreds of other bespoke parts, for the Rodin FZero.

“3D printing allows us to design and create components otherwise unachievable using traditional methods of manufacturing,” said David Dicker, founder, Rodin Cars. “With the Rodin FZERO gearbox, we had specific criteria we wanted to meet in terms of weight and durability. Because of the size and quality required for such a large component, it was only possible to print it on 3D Systems’ DMP Factory 500 machine. We couldn’t source another AM supplier who was able to offer a similar solution for our needs – the print quality, volume capacity, testing facilities in Leuven, and continued technological support.”

In addition to 3D Systems’ DMP technology, Rodin Cars is also using the company’s selective laser sintering (SLS) technology for production parts and stereolithography (SLA) to produce tooling for carbon fiber forms.

“Additive manufacturing is enabling industry leaders to defy limitations and stand apart,” said Kevin Baughey, segment leader, transportation & motorsports, 3D Systems. “As a high technology, high-performance car constructor, Rodin Cars delivers unparalleled vehicles to their customers. This is a shining example of how additive manufacturing not only enables parts to be produced that couldn’t be created through conventional methods, it is also delivering a lighter, more durable, beautiful vehicle. It’s the blending of the art of design with the science of hyper-performance cars and motorsports.”

Forward-Looking Statements

Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as “believes,” “belief,” “expects,” “may,” “will,” “estimates,” “intends,” “anticipates” or “plans” or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise.

About 3D Systems

More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction – empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3dsystems.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5de76fa3-0bb2-4f28-a781-b5237ff35d89 

Cites Declining Financial and Stock Price Performance, Including as Compared to its Competitors

Believes a Sale is Optimal Outcome for Stockholders in View of Execution Risk of Highly Uncertain Turnaround Plan

Intends to Withhold Authority to Vote its Shares from the Election of CEO Mukerjee and Chairman Gaffney as Directors at 2021 Annual Meeting

CHICAGO, June 29, 2021 (GLOBE NEWSWIRE) — Lakeview Investment Group & Trading Company, LLC, which beneficially owns 1,031,591 shares of common stock of TESSCO Technologies Incorporated (NasdaqGS: TESS) (“Tessco” or the “Company”), making it Tessco’s second largest stockholder, today issued a letter to the Board of Directors of the Company calling upon the Board to retain a reputable investment bank to run a full and fair process to sell the Company. The full text of the letter is included below:

Board of Directors
TESSCO Technologies Incorporated
11126 McCormick Road
Hunt Valley, Maryland 21031

Dear Members of the Board,

Lakeview Investment Group & Trading Company, LLC (“Lakeview”) owns 1,031,591 shares of TESSCO Technologies Incorporated (“Tessco” or the “Company”), representing approximately 11.6% of the outstanding shares, making Lakeview the Company’s second largest stockholder. We are writing today to express our view that Tessco retain a reputable investment bank to run a full and fair process to sell the Company.

We have followed the Company closely for two decades, from the relatively early days of the cellular wireless industry. After a long history of profitability, the past five years have seen the Company’s profit turn increasingly negative, as can be seen in the chart below:¹

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a502fd5-56bc-4fb3-8709-956ecf971ddf

After our initial discussions with CEO Sandip Mukerjee not long after he was hired in 2019, we were hopeful that a turnaround would occur, but in recent quarters, any confidence we had has dissipated. Mukerjee has now been with the Company for two years, during which time there has been more value destruction (as measured by profitability) than any two-year period in the Company’s nearly 30-year history as a public company. Under his leadership, the Company has consistently overpromised and underdelivered, guiding toward breakeven in recent quarters, but has completely missed the mark and lost approximately $15.6 million from continuing operations before taxes (or roughly $1.80 per share) in the past year alone (not including an astounding $2.6 million spent to oppose founder and largest stockholder Robert Barnhill’s consent solicitation process). Furthermore, at a run rate of approximately $85.5 million of selling, general, and administrative expenses, or approximately 22.9% of sales, the Company is spending stockholder capital at an unsustainable rate. The Company also appears to be losing significant market share, as the revamp of the Company’s sales team, highlighted by the hiring of Senior Vice President of Commercial Sales Eddie Franklin, who was brought on in April 2020 following Mukerjee’s hiring but who left the Company just over a year later, has clearly fallen well short of expectations.

Although the Company continues to try to spin its recent performance in a positive light, its financial and stock performance indicate the opposite, particularly when viewed in comparison to other companies that Tessco identifies as its peers. (It is worth noting that the Company, in its most recent Form 10-K, includes only two publicly traded comparable companies, down from four just a year ago, as Anixter International Inc. and Tech Data Corp. were both recently acquired, evidence that the industry is ripe for further consolidation.) Although the Company has blamed in part the impact of COVID-19 for its recent underperformance, the pandemic does not explain the continued margin deterioration it has experienced over the last few years, whereas both of its public competitors have seen margins recover after a brief COVID-19 related dip. This discrepancy in financial performance is borne out in the chart below, included in the Company’s most recent Form 10-K, comparing Tessco’s stock performance against its self-identified competitors as well as the Russell 2000. In the face of a rising bull market overall, and strong performance by the Company’s self-selected peers, Tessco has destroyed tremendous stockholder value.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5fed8235-4892-463a-a081-ad12eb461ab2

While management claims to have a turnaround plan and preaches patience, no guidance has been forthcoming from the Company and the details of that plan remain vague.   Undertaking a turnaround in the glare of the public markets is fraught with execution risk and will require proper management overnight (which we believe current leadership has failed to demonstrate) and substantial time and expense to reverse the Company’s mounting losses and bloated cost structure, all for a highly uncertain future. Therefore, we strongly believe that a sale of the Company is the optimal outcome for stockholders.

Tessco is at a major inflection point, and if the Company does not expeditiously pursue a bona fide sale process, we fear that considerably more value will be destroyed for stockholders. Tessco trades below its net asset value and has sufficient liquidity available on its line of credit, plus unencumbered real estate that our due diligence suggests is worth at least $30 million and for which the public markets do not give it credit. However, we are highly concerned that as the Company continues to lose money, the debt will continue to build, the net asset value will continue to decline, and the stock price will follow. As a nano-cap public company with extremely low trading volume, minimal analyst coverage, consistently poor performance in recent years, and inflated public company costs, we believe there is no justification for Tessco to remain public.

We believe there are a number of strategic and financial buyers who would have a genuine interest in pursuing a transaction with the Company, and are in fact aware of the Company’s refusal to engage with potentially interested parties on more than one occasion, in an apparent dereliction of the Board’s fiduciary duties to stockholders. As we have done, we urge the Board to assess the risk-adjusted long-term value that might be realized in the future by executing management’s plan and weigh this against the value that is realizable in the near-term through a sale of the Company.

In addition, we have serious concerns with the role that CEO Sandip Mukerjee and Chairman Paul Gaffney, the Company’s longest-tenured continuing director, have played in overseeing the Company’s declining financial and stock price performance and implementing a number of stockholder-adverse corporate governance actions (including increasing the share ownership requirement from 25% to 50% for stockholders to call a special meeting, which was voted down by stockholders as part of Mr. Barnhill’s consent solicitation process, and implementing a mandatory director retirement age that appeared to be designed to force the Company’s largest stockholder off the Board). For these reasons, we intend to express our dissatisfaction with Messrs. Mukerjee and Gaffney by WITHHOLDING AUTHORITY to vote our shares with respect to their election as directors at the Company’s upcoming 2021 annual meeting of stockholders.

We look forward to having a direct and constructive engagement with the Board to ensure that the Company pursues a full and fair sale process with the singular goal of maximizing value for stockholders.

Sincerely,

/s/ Ari B. Levy

Ari B. Levy
Manager

About Lakeview Investment Group

Lakeview Investment Group is a Chicago-based investment manager, founded in 2004, with a focus on small- and mid-cap companies.  Lakeview’s strategy focuses primarily on long-term investments in companies trading at significant discounts to its estimate of intrinsic value.  On select occasions, Lakeview engages directly with company management to help drive shareholder value.

Media and Investor Contact

Lakeview Investment Group & Trading Company, LLC
Ari Levy, [email protected]
Tim Won, [email protected]
(312) 245-2910

_______________
¹ Excluding goodwill impairment and restructuring charges.

LONDON, June 29, 2021 (GLOBE NEWSWIRE) — On June 23, 2021, Ferroglobe PLC (the “Parent”), Ferroglobe Finance Company, PLC (the “UK Issuer”) and Globe Specialty Metals, Inc. (“Globe” and, together with the UK Issuer, the “Issuers”) commenced the following transactions pursuant to the offering and consent solicitation memorandum dated June 23, 2021 (the “Offering and Consent Solicitation Memorandum”):

• an exchange offer (the “Exchange Offer”) of any and all of the 9⅜% Senior Notes due 2022 issued by the Parent and Globe (the “Old Notes”) 2022 for a combination of new 9⅜% senior secured notes due 2025 (the “New Notes”) and equity fee;
• a solicitation of consents to certain proposed amendments to the indenture governing the Old Notes; and
• an offer (the “Super Senior Notes Offer”) to the existing holders of the Old Notes to subscribe to additional senior secured notes due 2025 (the “Super Senior Notes”).

Exchange Offer

In connection with the Exchange Offer, the Issuers hereby notify the Qualifying Noteholders of the following ISIN and common codes with respect to the New Notes to be issued on the Settlement Date:

The Exchange Offer is scheduled to expire at 11:59 p.m., New York City time, on July 21, 2021, unless extended as provided in the Offering and Consent Solicitation Memorandum. For Qualifying Noteholders Participating in the Super Senior Notes Offer, the deadline for submitting Custody Instructions to DTC on the Exchange Offer and the Consent Solicitation is July 7, 2021.

Super Senior Notes Offer

In connection with the Super Senior Notes Offer, the UK Issuer hereby notifies Qualifying Noteholders of the following temporary ISIN and common codes with respect to the additional Super Senior Notes to be issued on the Settlement Date:

The Super Senior Notes Offer Subscription Deadline is July 7, 2021.

Capitalized terms used but not defined in this release shall have the meanings set forth in the Offering and Consent Solicitation Memorandum.

About Ferroglobe

Ferroglobe PLC is one of the world’s leading suppliers of silicon metal, silicon-based and manganese-based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. For more information, visit http://investor.ferroglobe.com.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe Issuers’ future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intends”, “likely”, “may”, “plan”, “potential”, “predicts”, “seek”, “will” and words of similar meaning or the negative thereof.

Forward-looking statements contained in this press release are based on information currently available to Issuers and assumptions that management believe to be reasonable but are inherently uncertain. As a result, Issuers’ actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Ferroglobe’s control.

All information in this press release is as of the date of its release. Issuers do not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release.

INVESTOR CONTACT:

Gaurav Mehta
Executive Vice President – Investor Relations
[email protected] 

MEDIA CONTACT:

Cristina Feliu Roig
Executive Director – Communications & Public Affairs
[email protected] 

ROCHELLE PARK, N.J., June 29, 2021 (GLOBE NEWSWIRE) — ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Internet of Things (IoT) solutions, today announced that it has signed a contract with Calian Group Ltd. (TSX: CGY), a leading provider of engineering services, software development, training and technical services, to develop earth station equipment for ORBCOMM’s next-generation, global IoT satellite service, OGx. ORBCOMM is collaborating with Inmarsat, the world leader in global mobile satellite communications, to develop OGx products and services to operate on Inmarsat’s L-band satellite constellation, offering the best-in-class combination of high bandwidth data packets with low-cost terminals.

Through its partnership with Calian, ORBCOMM will provide the equipment that will be installed at three Inmarsat land earth station facilities to enable global service for its OGx services. As part of the development process for the earth station equipment, ORBCOMM and Calian expect to meet key milestones beginning in mid-2022, including factory acceptance testing and engineering and alpha trials, followed by delivery and installation of the equipment by the end of 2022.

“We’re pleased to partner with a technology leader like Calian on the development of earth station equipment supporting our next-gen OGx service, which is a key milestone in delivering unparalleled network connectivity and best-in-class IoT solutions to industrial customers globally,” said David Roscoe, Senior Vice President of Engineering and Manufacturing for ORBCOMM. “OGx is a compelling offering developed specifically for remote monitoring and environmental sensing IoT applications with unmatched global coverage, battery power, bandwidth, speed and regulatory approvals at the best prices in the industry.”

With the initial deployment of the groundbreaking OGx service expected at the end of 2022, ORBCOMM will offer a higher data rate service designed to be nearly 40 times faster than the current IDP service, allowing for much larger messages and faster delivery times. ORBCOMM’s current generation IDP terminals can be seamlessly upgraded over-the-air to the higher data rate OGx service. In addition, ORBCOMM plans to offer an extremely power-efficient data service to support a daily message for multiple years on a satellite terminal utilizing a single AA battery, making it ideal for remote monitoring and environmental sensing applications. Both OGx offerings are designed to have expanded broadcasting capabilities to send data to large groups of terminals and leverage multiple modes of operation that can be tuned specifically for the required application.

“ORBCOMM’s next-generation, global service is enabling the Internet of Things to an even larger pool of applications, environments and people,” said Patrick Thera, President of Calian, Advanced Technologies. “We’re excited to provide our no-fail platform and capabilities to an industry leader like ORBCOMM to deliver their visionary OGx service. It’s a perfect partnership for us, and we are excited to be a part of their success.”

“ORBCOMM and Inmarsat have a proven history in delivering industry-leading satellite-enabled IoT solutions to operations in remote locations around the world,” said Mike Carter, President, Inmarsat Enterprise. “This recent partnership supports our roadmap toward the launch of OGx and our strategy of enabling highly reliable IoT solutions that work anywhere with our L-band network.”

In October 2020, ORBCOMM announced that it extended its agreement with Inmarsat for L-band satellite service through 2035 at a minimum. For more information about ORBCOMM’s long-time partnership with Inmarsat as well as its next-gen OGx products and services, please visit https://www.orbcomm.com/en/networks/satellite.

About ORBCOMM Inc.

ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government. For more information, visit www.orbcomm.com. You can also connect with ORBCOMM at https://blog.orbcomm.com, on Twitter at @ORBCOMM_Inc, at https://www.linkedin.com/company/orbcomm or at https://www.youtube.com/c/ORBCOMM_Inc.

About Calian, Advanced Technologies

Calian, Advanced Technologies solutions include satellite gateways and infrastructure for RF communications, telemetry, tracking and control systems, space science and earth observation. Calian, Advanced Technologies provides leading-edge communication products for terrestrial and satellite networks. In addition, we enable our commercial and defense customers to deliver reliable, high-quality products and systems by providing them with superior electronics engineering, manufacturing and test services. One of our key markets is custom satellite communications gateways for customers that require complex waveforms for the services they provide. Our customers are leaders in their industries providing systems tailored to meet their demanding requirements, with practical solutions, delivered on time and on budget.

About Inmarsat

Inmarsat is the world leader in global, mobile satellite communications. It owns and operates the world’s most diverse global portfolio of mobile telecommunications satellite networks, and holds a multi-layered, global spectrum portfolio, covering L-band, Ka-band and S-band, enabling unparalleled breadth and diversity in the solutions it provides. Inmarsat’s long-established global distribution network includes not only the world’s leading channel partners but also its own strong direct retail capabilities, enabling end to end customer service assurance.

The company has an unrivalled track record of operating the world’s most reliable global mobile satellite telecommunications networks, sustaining business and mission critical safety & operational applications for more than 40 years. It is also a major driving force behind technological innovation in mobile satellite communications, sustaining its leadership through a substantial investment and a powerful network of technology and manufacturing partners.

Inmarsat operates across a diversified portfolio of sectors with the financial resources to fund its business strategy and holds leading positions in the Maritime, Government, Aviation and Enterprise satcoms markets, operating consistently as a trusted, responsive and high-quality partner to its customers across the globe. For further information, visit www.inmarsat.com follow us on LinkedIn or on Twitter @InmarsatGlobal.

Forward-Looking Statements

Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.

SOLANA BEACH, Calif., CHICAGO, and MOUNT PLEASANT, S.C., June 29, 2021 (GLOBE NEWSWIRE) — Evoke Pharma, Inc. (NASDAQ: EVOK), a specialty pharmaceutical company focused on treatments for gastrointestinal (GI) diseases, EVERSANA™, a leading provider of global commercial services to the life science industry, and The International Foundation for Gastrointestinal Disorders (IFFGD), today announced Evoke’s membership into IFFGD’s Industry Council. Evoke will join a likeminded group of organizations and brands focused on bettering patients affected by GI disorders. As part of the Industry Council, Evoke will participate in biannual council meetings to gain industry insights and provide feedback on future plans for IFFGD.

In addition to the Industry Council, Evoke is excited to sponsor the IFFDG’s upcoming 30th Anniversary Digestive Health Virtual Walk in August 2021 during Gastroparesis Awareness Month. This walk is a unique fitness event which will provide participants with an opportunity to engage at their own pace and as their health and schedules permit. To honor the thirty years of the IFFGD’s existence, the overall campaign goal is for all participants to collectively walk 10,950 miles over two weeks. Goals will also go beyond physical fitness by encouraging participants to participate in activities that promote general wellness such as scheduling a doctor’s appointment, trying a new gut friendly recipe or starting a log of their meals and/or symptoms.

“We appreciate Evoke Pharma joining in our efforts to support patients with digestive diseases, specifically those afflicted with gastroparesis. As there has been no new and novel treatments for this debilitating disease on the market in over 40 years, our community is seeking new options and support for patients,” stated Ceciel T. Rooker, President of IFFGD. “We recognize the significant unmet medical need that these patients have for improved treatment options. We look forward to Evoke’s contribution to our cause as we partner to help those in need.”

“We are excited to further extend our commitment to improving the lives of those affected by gastroparesis through our membership into the IFFGD’s Industry Council,” commented Matt D’Onofrio, Evoke Pharma Chief Business Officer. “The IFFGD provides an invaluable service to those impacted by chronic digestive disorders by raising awareness, improving education, and promoting research into treatments and cures. We look forward to working closely with an organization that is aligned with our mission, such as the IFFGD, and sponsoring its upcoming 30th Anniversary Digestive Health Virtual Walk.”

About Gimoti™ (metoclopramide) nasal spray

GIMOTI is indicated for the relief of symptoms in adults with acute and recurrent diabetic gastroparesis.

Important Safety Information

BOXED WARNING: TARDIVE DYSKINESIA

• Metoclopramide can cause tardive dyskinesia (TD), a serious movement disorder that is often irreversible. The risk of developing TD increases with duration of treatment and total cumulative dosage.
• Discontinue GIMOTI in patients who develop signs or symptoms of TD. In some patients, symptoms may lessen or resolve after metoclopramide is stopped.
• Avoid treatment with metoclopramide (all dosage forms and routes of administration) for longer than 12 weeks because of the increased risk of developing TD with longer-term use.

GIMOTI is not recommended for use in:

• Pediatric patients due to the risk of developing tardive dyskinesia (TD) and other extrapyramidal symptoms as well as the risk of methemoglobinemia in neonates.
• Moderate or severe hepatic impairment (Child-Pugh B or C), moderate or severe renal impairment (creatinine clearance less than 60 mL/minute), and patients concurrently using strong CYP2D6 inhibitors due to the risk of increased drug exposure and adverse reactions.

GIMOTI is contraindicated:

• In patients with a history of tardive dyskinesia (TD) or a dystonic reaction to metoclopramide.
• When stimulation of gastrointestinal motility might be dangerous (e.g., in the presence of gastrointestinal hemorrhage, mechanical obstruction, or perforation).
• In patients with pheochromocytoma or other catecholamine-releasing paragangliomas. Metoclopramide may cause a hypertensive/pheochromocytoma crisis, probably due to release of catecholamines from the tumor.
• In patients with epilepsy. Metoclopramide may increase the frequency and severity of seizures.
• In patients with hypersensitivity to metoclopramide. Reactions have included laryngeal and glossal angioedema and bronchospasm.

Potential adverse reactions associated with metoclopramide include: Tardive dyskinesia (TD), other extrapyramidal effects (EPS), parkinsonism symptoms, motor restlessness, neuroleptic malignant syndrome (NMS), depression, suicidal ideation and suicide, hypertension, fluid retention, hyperprolactinemia, effects on the ability to drive and operate machinery.

Most common adverse reactions (≥5% of patients in clinical studies) for GIMOTI were dysgeusia, headache, and fatigue. These are not all of the possible side effects of GIMOTI. This information should not take the place of you talking with your doctor or healthcare professional. If you have any questions about your condition, or if you would like more information about GIMOTI, talk to your doctor or pharmacist. Only you and your healthcare professional can decide if GIMOTI is right for you.

You report side effects related to Evoke Pharma products by calling 1-833-4-GIMOTI (1-833-444-6684) or emailing [email protected]. If you prefer to report these to the FDA, either visit www.FDA.gov/medwatch or call 1-800-FDA-1088.

About Evoke Pharma, Inc.

Evoke is a specialty pharmaceutical company focused primarily on the development of drugs to treat GI disorders and diseases. Evoke developed GIMOTI, a nasal spray formulation of metoclopramide, for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in adults.

Diabetic gastroparesis is a GI disorder affecting millions of patients worldwide, in which the stomach takes too long to empty its contents resulting in serious GI symptoms as well as other systemic complications. The gastric delay caused by gastroparesis can compromise absorption of orally administered medications. Prior to FDA approval to commercially market GIMOTI, metoclopramide was only available in oral and injectable formulations and remains the only drug currently approved in the United States to treat gastroparesis. Visit www.EvokePharma.com for more information.

About EVERSANA Life Science Services, LLC

EVERSANA™ is a leading provider of global services to the life science industry. The company’s integrated solutions are rooted in the patient experience and span all stages of the product lifecycle to deliver long-term, sustainable value for patients, prescribers, channel partners and payers. The company serves more than 500 organizations, including innovative start-ups and established pharmaceutical companies to advance life science solutions for a healthier world. To learn more about EVERSANA, visit eversana.com or connect through LinkedIn and Twitter.

About IFFGD

The International Foundation for Functional Gastrointestinal Disorders (IFFGD) is a nonprofit education and research organization dedicated to improving the lives of people affected by a chronic gastrointestinal disorder. Founded in 1991, IFFGD helps improve care by enhancing awareness, improving education, and supporting and encouraging research into treatments and cures for chronic digestive disorders. 

To learn more about IFFGD, please visit: Website:www.iffgd.orgFacebook:www.facebook.com/IFFGDTwitter:www.twitter.com/IFFGD

Safe Harbor Statement

Evoke cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negatives of these terms or other similar expressions. These statements are based on Evoke’s current beliefs and expectations. These forward-looking statements include statements regarding Evoke’s plans to increase awareness of GI disorders. The inclusion of forward-looking statements should not be regarded as a representation by Evoke that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Evoke’s business, including those described in Evoke’s periodic filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Evoke undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investor Contacts:

The Ruth Group
Christine Petraglia / James Salierno
Tel: 917-633-8980 / 973-255-8361
[email protected] / [email protected]

Media Contact:

The Ruth Group
Annika Parrish
Tel: 720-412-9042
[email protected]