VMware Unveils the Modern Network Framework for Data Center and Cloud Networking

VMware Unveils the Modern Network Framework for Data Center and Cloud Networking

VMware announces the next wave of Virtual Cloud Network innovation for enabling a public cloud experience and best meeting the needs of applications and users

PALO ALTO, Calif.–(BUSINESS WIRE)–
VMware, Inc. (NYSE: VMW) today unveiled the Modern Network framework to enable businesses, and their IT and application development teams, to accelerate adapting to a new normal. To help customers realize a modern network of their own, VMware also announced further enhancements to its virtual networking products and services.

For businesses today, the ability to rapidly and cost effectively respond to change is paramount. Application developers need to quickly deploy, test, and iterate applications. The infrastructure powering applications needs to deliver the efficiency of cloud operating models. Applications need to run on everything from private clouds to public clouds to edge computing, and the user to application experience needs to be great, no matter the user’s location. Traditional hardware-centric networking models simply don’t meet the needs of today’s business realities. The Modern Network framework addresses all of these needs.

The Virtual Cloud Network embodies the Modern Network framework. More than 18,000 organizations have modernized their networks using VMware’s Virtual Cloud Network solution. These customers are embracing a cloud operating model, launching workloads with full automation, and eliminating weeks and months of wait time to update a firewall or load balancer. They are virtualizing everything from the data center to the branch to the end user. The Virtual Cloud Network gives organizations an end-to-end solution to deploy applications and make sure they are running optimally and efficiently, while enabling a great user experience.

“Our customers must efficiently manage the rapid shift to remote work, deliver applications faster and more securely, and reduce the cost and complexity of connecting and protecting the distributed enterprise,” said Rajiv Ramaswami, chief operating officer, products and cloud services, VMware. “The Modern Network framework enables our customers to do this. It turns the old way of thinking about networks as hardware appliances, switches, and routers in enterprise networks on its head and instead, takes a top-down view that puts users and applications first. This is the promise we are delivering on with the Virtual Cloud Network.”

The Modern Network Framework Explained

In the traditional model, a network is assembled from distinct devices—switches, routers, firewalls, IDS/IPS systems, load balancers, and more—that are deployed separately and typically configured manually using ticketing systems. This is a bottom-up view, requiring the application to use whatever the infrastructure has available. The Modern Network framework takes a top-down view, creating a network that understands the needs of the application and programmatically managing infrastructure to meet those needs. The Modern Network framework is described by three key pillars.

The first pillar, Modern Application Connectivity Services, enables developers to connect the microservices of a modern application more securely while reducing latency, increasing security, and maintaining application availability. This is done with self-service tools that developers can use without help from central IT.

Underneath this, the Multi-cloud Network Virtualization pillar provides a complete set of essential network services that are fully automated and defined in software. These services include all essential networking functions including security and load balancing. Virtualization and analytics span end to end, from the data center to the branch office and all the way to the end user. Automation is applied not just to the orchestration of a workload, but also day two operations.

Despite the microservice-level abstractions of the first pillar and the scale-out software network infrastructure of the second pillar, at the bottom, packets still need to travel through wires and silicon. The Physical Network Infrastructure pillar is all about providing high capacity and low latency connectivity. It’s about keeping it simple and letting the software do its job.

In the Modern Network framework, security is intrinsic to every pillar.

Taken together, the three pillars and the principles they lay out are the foundation of public cloud architectures. VMware makes them available in every cloud.

The Virtual Cloud Network is a Modern Network, and it Just Got Better

The Virtual Cloud Network, powered by the VMware NSX family of products, enables the public cloud experience for enterprise workloads running in private and multi-cloud environments. Just as in the public cloud, NSX enables automated deployment of the full workload. NSX provides infrastructure services that are defined entirely in scale-out software, delivered on general purpose servers, and built into the CI/CD pipeline so the services are automatically deployed with the application. Enterprises can now deploy full workloads with a single click without opening tickets which might take weeks of manual effort to close.

To achieve this level of cloud operation, VMware NSX delivers the industry’s only complete L2-7 virtual networking stack—switching, routing, firewall, security analytics, advanced load balancing, and container networking. VMware extends the Virtual Cloud Network to connect and protect modern application environments with VMware Tanzu Service Mesh and support for Project Antrea, an open source project that enables Kubernetes networking and security wherever Kubernetes runs. The Virtual Cloud Network runs on non-virtualized bare metal servers, VMs, containers, and across every cloud.

The Virtual Cloud Network doesn’t stop in the data center. The VMware SASE platform converges VMware SD-WAN, cloud security, and zero-trust network access with best-in-class web security to deliver flexibility, agility, and scalability for supporting a work from anywhere workforce. With VMware vRealize Network Insight and VMware Edge Network Intelligence, the Virtual Cloud Network includes advanced analytics that yield better network uptime and resiliency and faster troubleshooting. vRealize Network Insight can measure the life of a packet from the database all the way to the end user, spanning both physical and virtual infrastructure; a unique capability that makes troubleshooting easier.

Today, VMware announced the following enhancements to the Virtual Cloud Network portfolio:

Extending the Future Ready Workforce Solution with VMware SD-WAN Work from Home Subscriptions

The branch is now anywhere a user can connect to the company network to access the resources they need, including at home. VMware is extending the Future Ready Workforce Solution with new VMware SD-WAN work from home subscriptions. These new offerings will provide individual business users optimized network connectivity, more assured application performance, and better security at an affordable low price. Starting at price points lower than the cost of a mobile phone line, and with bandwidth ranging from 350Mbps to 1Gbps, the new subscriptions enable business users to get the best application performance while working from home. These new offerings are available today.

New Capabilities for Connecting, Protecting, and Automatically Scaling Modern Applications

Modern applications have thousands of components that need to be connected and protected. VMware Tanzu Service Mesh is an exciting new technology that controls the communication between each of the thousands of components, enforcing security policy and measuring performance and other critical functions, regardless of the underlying infrastructure. VMware is announcing a preview of a unique Attribute-Based Access Control policy model that will bring “who, what, where, when and how” simplicity into modern application policy creation.

Further, VMware is announcing NSX Advanced Load Balancer integration with Tanzu Service Mesh. This integration will enable application developers using Kubernetes to launch an application with all required load balancing capabilities without ever having to touch the infrastructure. API driven, this combined solution will deliver high availability and security for modern applications via load balancing and web application firewall capabilities. This integration is expected to be available in VMware’s Q1 FY22.

Infrastructure that Measures and Fixes Itself

Users and modern applications expect the network to “just work.” When infrastructure is virtualized, it can actually adapt to changes and heal itself. VMware SD-WAN technology takes multiple unreliable network connections and makes them behave like a single ultra-high-performance network. For a work from home user, this means video collaboration applications simply work all of the time. In the data center, VMware’s monitoring and management software now includes powerful new network modeling capabilities that act as a “pre-flight check” to verify an application is reachable across both physical and virtual infrastructure. Together, these new capabilities, which are available today, make troubleshooting faster and more efficient, and represent an important step towards self-healing networks.

Network Virtualization that Runs on SmartNICs for the Next-Generation of Servers

VMware announced Project Monterey, a collaboration with leading hardware providers to deliver network and server virtualization that runs on a SmartNIC. This novel architecture promises a leap forward in computing power and efficiency, as well as pervasive, distributed security. Virtualization and security functions are offloaded to the SmartNIC, freeing up CPU cycles to run applications and creating meaningful cost savings. VMware is announcing that the NSX Services-Defined Firewall running on a Monterey SmartNIC will be able run stateful Layer 4 firewall services at line rate. These same SmartNICs will also be able to run Layer 7 stateful firewall, as well as VMware’s curated IPS signatures. This capability will allow enterprise customers to attach a tuned, ultra-fast, ultra-smart firewall to their most valuable workloads – the database apps that hold their sensitive data.

Industry and Customer Commentary

“IDC is seeing that the traditional hardware-defined, device-centric method of building, operating, and securing networks is being supplanted by a cloud-centric, software-based approach. In fact, IDC research shows that by 2023, more than 55 percent of enterprises will replace outdated operational models with cloud-centric models that facilitate rather than inhibit organizational collaboration,” said Brad Casemore, research vice president, datacenter and multicloud networking, IDC. “Software-based approaches such as the VMware Virtual Cloud Network can help customers modernize both their network infrastructure and operating model, across clouds, datacenters, and the extended enterprise.”

“Around major sporting events, we need to be able to scale out hundreds of apps in seconds and give customers a consistent, reliable, and secure experience,” said Ben Fairclough, lead infrastructure architect at William Hill. “VMware provides us with a modern network that allows us to automate deployment of critical micro-segmentation functionality through the NSX Distributed Firewall using APIs. Tight integration in our environment means our developers know and understand how security policies are put together to ultimately simplify the entire deployment sequence. Our work with VMware gives us confidence that our security posture is as tight as it can be while deploying applications very quickly.”

“When we considered our network modernization process, one of the key factors was supporting a shift to multi-cloud to ensure continuous delivery,” said Thomas Squeo, CTO at Intrado Digital Media. “The network virtualization, analytics, and visualization capabilities included in VMware’s virtual cloud network portfolio made that easy. We’ve created a ‘5S’ framework focused on the stability, scalability, security, speed and savings we need to be successful in meeting our application SLIs, SLOs, and error budget deployments.”

“Tools like the VMware software-based load balancer give us that next-generation functionality to dynamically scale up the throughput capacity to where it needs to go,” said Zack Milem, cloud solution architect at Trend Micro. “By tying our products together with VMware’s modern networking components, Trend Micro is creating a seamless experience in which our business units and our end-users can access applications and infrastructure capacity at any time, wherever they are.”

About VMware

VMware software powers the world’s complex digital infrastructure. The company’s cloud, app modernization, networking, security, and digital workspace offerings help customers deliver any application on any cloud across any device. Headquartered in Palo Alto, California, VMware is committed to being a force for good, from its breakthrough technology innovations to its global impact. For more information, please visit https://www.vmware.com/company.html.

VMware, vSphere, NSX, Tanzu and vRealize are registered trademarks or trademarks of VMware, Inc. or its subsidiaries in the United States and other jurisdictions. This article may contain hyperlinks to non-VMware websites that are created and maintained by third parties who are solely responsible for the content on such websites.

Roger T. Fortier

VMware Global Communications

+1 408-348-1569

[email protected]

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INDUSTRY KEYWORDS: Technology Mobile/Wireless Security Telecommunications Software Networks Internet Data Management VoIP

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Super League Gaming Secures Additional Patent for its Multi-User Game System Technology

The technology automates the creation of compelling content designed to appeal to a wide variety of gaming fans

SANTA MONICA, Calif. , Nov. 16, 2020 (GLOBE NEWSWIRE) — Super League Gaming (Nasdaq: SLGG), a global leader in competitive video gaming and esports entertainment for everyday players around the world, continues to advance its sophisticated and robust portfolio of defensible and potentially licensable intellectual property with another allowed patent from the US Patent Trade Office, this time for its proprietary Multi-User Game System with Trigger-Based Generation of Projection View technology.

This most recent patent covers Super League’s unique and scalable cloud-based “camera character” technology. This powerful tool essentially allows the placement of virtual “cameras” into video games for the purpose of visualizing the action from a variety of perspectives and also serves a stepping stone for a virtual studio to ingest a wide variety of content sources and intelligently and efficiently manage them to deliver compelling productions.

 “At Super League, we are in the business of creating compelling real-life and online gaming experiences, including the spectating of gameplay using streaming technologies,” says co-inventor and SLGG’s Chief Platform Officer, David Steigelfest. “SLGG’s unique platform gives us the ability to create streams of unique perspective, combine it or overlay it in our virtual broadcasting studio with other forms of streaming content, and solidify our position at the forefront of the gaming and esports content industry. The movement of the ‘camera character,’ driven by data and logic coming from the other players in a game, amounts to a form of artificial intelligence that not only facilitates complete automation, but also that the content is compelling and of interest to a wide variety of spectators.”

“This is yet another exciting step forward in fulfilling our goal of building out Super League’s IP,” says Ann Hand, Super League Chairman and CEO. “This technology provides for scale, and gives us the ability to share all the fast-paced gaming action our audience is craving. These patents are building blocks and vital pieces of Super League’s future strategy for success, and I could not be prouder of our team for their continued innovation and efforts.”

Since this technology’s development, this spectator view has been employed by Super League in the live broadcast and spectating of competitive gameplay across multiple video game titles, including PUBG Mobile, Clash Royale, CS:GO, Street Fighter V, Minecraft and more. Currently, Super League has several additional patents in various stages of review with the USPTO.

About Super League Gaming

Super League Gaming (Nasdaq: SLGG) is a leading gaming community and content platform that gives everyday gamers multiple ways to connect and engage with others while enjoying the video games they love. Powered by patented, proprietary technology systems, Super League offers players the ability to create gameplay-driven experiences they can share with friends, the opportunity to watch live streaming broadcasts and gameplay highlights across digital and social channels, and the chance to compete in events and challenges designed to celebrate victories and achievements across multiple skill levels. With gameplay and content offerings featuring more than a dozen of the top video game titles in the world, Super League is building a broadly inclusive, global brand at the intersection of gaming, experiences and entertainment. Whether to access its expanding direct audience or the company’s unique content production and virtual event capabilities, third parties ranging from consumer brands, video game publishers, television companies, traditional sports organizations, concert promoters, and more, are turning to Super League to provide integrated solutions that drive business growth. For more: superleague.com

Media Contact:

Gillian Sheldon
Super League Gaming
[email protected]

Investor Relations:

Sean McGowan and Cody Slach
Gateway Investor Relations
[email protected]

Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not strictly historical 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 statements involve substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements about our possible or assumed business strategies, potential growth opportunities, new products and potential market opportunities. Risks and uncertainties include, among other things, our ability to implement our plans, forecasts and other expectations with respect our business; our ability to realize the anticipated benefits of events that took place during and subsequent to the quarter ended March 31, 2020, including the possibility that the expected benefits will not be realized or will not be realized within the expected time period; unknown liabilities that may or may not be within our control; attracting new customers and maintaining and expanding our existing customer base; our ability to scale and update our platform to respond to customers’ needs and rapid technological change; increased competition on our market and our ability to compete effectively, and expansion of our operations and increased adoption of our platform internationally. Additional risks and uncertainties that could affect our financial results are included in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2019 and other filings that we make from time to time with the Securities and Exchange Commission which, once filed, are available on the SEC’s website at www.sec.gov. In addition, any forward-looking statements contained in this communication are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.



AppHarvest to Participate in Goldman Sachs SUSTAIN Fall Symposium on November 17, 2020

MOREHEAD, Ky., Nov. 16, 2020 (GLOBE NEWSWIRE) — AppHarvest (“the Company”), a registered benefit corporation and Certified B Corp that is a developer and operator of large-scale, high-tech controlled environment indoor farms, today announced that Jonathan Webb, the Company’s Founder and Chief Executive Officer, will participate in the ESG in Agriculture panel at the Goldman Sachs SUSTAIN Fall Symposium being held virtually on Tuesday, November 17, 2020. The Company will also be participating in virtual investor meetings.

The ESG in Agriculture panel is scheduled for 9:00 a.m. Eastern and will be moderated by Sandra Lawson, Head of SUSTAIN Strategy, Goldman Sachs. This panel will be webcast live and can be accessed through the following link: https://event.webcasts.com/starthere.jsp?ei=1397044&tp_key=6b9e8a14a0.

On September 29, 2020, AppHarvest and Novus Capital Corp. (Nasdaq: NOVS) (“Novus Capital”) announced a definitive agreement for a business combination that would result in AppHarvest becoming a public company. The transaction announced between Novus Capital and AppHarvest is expected to close late in the fourth quarter of 2020 or early in the first quarter of 2021. Upon closing of the transaction, the combined company will be named AppHarvest and is expected to remain listed on Nasdaq under the AppHarvest symbol “APPH”. The combined company will be led by Jonathan Webb and the AppHarvest executive team.


About AppHarvest


AppHarvest, a registered benefit corporation and Certified B Corp, is an applied technology company building some of the world’s largest indoor farms in Appalachia. The Company combines conventional agricultural techniques with cutting-edge technology and is addressing key issues including improving access for all to nutritious food, farming more sustainably, building a home-grown food supply, and increasing investment in Appalachia. The Company’s 60-acre Morehead, KY facility is among the largest indoor farms in the U.S. For more information, visit https://www.appharvest.com/.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding Novus Capital’s proposed acquisition of AppHarvest, Novus Capital’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance, as well as the combined company’s growth plans and strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of AppHarvest’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of AppHarvest. These forward-looking statements are subject to a number of risks and uncertainties, including those discussed in Novus Capital’s registration statement on Form S-4, filed with the SEC on October 9, 2020 (the “Registration Statement”), under the heading “Risk Factors,” and other documents Novus Capital has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect AppHarvest’s expectations, plans, or forecasts of future events and views as of the date of this press release. AppHarvest anticipates that subsequent events and developments will cause its assessments to change. However, while AppHarvest may elect to update these forward-looking statements at some point in the future, AppHarvest specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing AppHarvest’s assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward looking statements.

Important Information for Investors and Stockholders

In connection with the proposed transaction, Novus Capital has filed the Registration Statement with the SEC, which includes a preliminary proxy statement to be distributed to holders of Novus Capital’s common stock in connection with Novus Capital’s solicitation of proxies for the vote by Novus Capital’s stockholders with respect to the proposed transaction and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of securities to be issued to AppHarvest’s stockholders in connection with the proposed transaction. After the Registration Statement has been declared effective, Novus Capital will mail a definitive proxy statement, when available, to its stockholders. Investors and security holders and other interested parties are urged to read the proxy statement/prospectus, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about Novus Capital, AppHarvest and the proposed transaction. Investors and security holders may obtain free copies of the preliminary proxy statement/prospectus and definitive proxy statement/prospectus (when available) and other documents filed with the SEC by Novus Capital through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: Novus Capital Corporation, 8556 Oakmont Lane, Indianapolis, IN 46260. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

Participants in the Solicitation

Novus Capital and its directors and officers may be deemed participants in the solicitation of proxies of Novus Capital’s shareholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Novus Capital’s executive officers and directors in the solicitation by reading the Registration Statement and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Novus Capital’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, is set forth in the Registration Statement.

Contacts:

AppHarvest

Investor Relations
John Mills and Melissa Calandruccio, CFA
[email protected]

Media Relations
Cory Ziskind and Keil Decker
[email protected]



Comcast Launching More Than 20 WiFi-Connected “Lift Zones” in Twin Cities

Comcast Launching More Than 20 WiFi-Connected “Lift Zones” in Twin Cities

Lift Zones Provide Safe Spaces Fully Equipped with Free Internet Access to Help Low-Income Students Participate in Distance Learning

ST. PAUL, Minn.–(BUSINESS WIRE)–
As part of its ongoing commitment to help connect low-income families to the Internet so they can fully participate in educational opportunities and the digital economy, Comcast today announced plans to equip more than 20 different locations in the Twin Cities with WiFi-connected “Lift Zones” before the end of 2020.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201116005352/en/

Comcast plans to equip more than 20 different locations in the Twin Cities with WiFi-connected “Lift Zones” before the end of 2020, designed to help students get online, participate in distance learning and do their homework. (Photo: Business Wire)

Comcast plans to equip more than 20 different locations in the Twin Cities with WiFi-connected “Lift Zones” before the end of 2020, designed to help students get online, participate in distance learning and do their homework. (Photo: Business Wire)

Working with its network of nonprofit partners, Comcast is providing robust WiFi hotspots in safe spaces designed to help students get online, participate in distance learning and do their homework. This initiative provides free connectivity inside partner community centers for the next three years.

The Sanneh Foundation Distanced Learning Hub at Conway Community Center in St. Paul was the first of 14 Lift Zones installed in the Twin Cities. The Sanneh Foundation Distanced Learning Hub provides much needed help to parents and guardians by providing a safe place each day for more than 140 students during normal school hours. The Lift Zone features free WiFi provided by Comcast, which allows students to work on laptops simultaneously so they can successfully participate in distance learning.

“Working parents across our community have been wondering how to handle distance learning for their children. In addition, many parents are not able to afford daycare or access to the technology needed for distance learning at home,” said Tony Sanneh, founder and CEO, The Sanneh Foundation. “That’s why we are so grateful Comcast has partnered with us to provide these crucial resources and stepped in to fill an important need.”

“We are proud to partner with community organizations across the Twin Cities and equip them with free internet service and the digital training skills that will provide kids with safe, fast and reliable connectivity to keep up with school and prepare for a brighter future,” said J.D. Keller, regional senior vice president, Comcast Twin Cities. “The COVID-19 crisis continues to put many low-income students at risk of being left behind, accelerating the need for comprehensive digital equity and internet adoption programs to support them. We hope these Lift Zones will help those students who, for a variety of reasons, are unable to connect to effective distance learning at home.”

Twin Cities community organizations that have established Lift Zones in their respective facilities include:

  • Boys & Girls Clubs of the Twin Cities locations

    • Al Lenzmeier West Side, St. Paul
    • East Side, St. Paul
    • Jerry Gamble Center, Minneapolis
    • Mount Airy, St. Paul
    • Southside Village, South Minneapolis
  • Hallie Q. Brown Community Center, St. Paul
  • Keystone Community Services, St. Paul
  • Neighborhood House, St. Paul
  • Perspectives Family Center, St. Louis Park
  • Phyllis Wheatley Community Center, Minneapolis
  • Pillsbury United Communities, Brian Coyle Center, Minneapolis
  • The Real Minneapolis, Allina Commons, Minneapolis
  • The Sanneh Foundation, Conway Community Center, St. Paul
  • Vietnamese Social Services, St. Paul

Several more Twin Cities Lift Zone partners are currently under consideration, including YMCA of the North and Division of Indian Work in partnership with the Phillips Indian Educators of Metropolitan Urban Indian Directors group, with the goal to have all locations installed by early 2021.

In addition, the company is providing free access to all outdoor WiFi hotspots until the end of 2020, plus hundreds of hours of digital skills content to help families and site coordinators navigate online learning. Lift Zone sites complement Comcast’s Internet Essentials program, which has helped connect more than 8 million low-income people to the Internet at home, including more than 172,000 Minnesotans.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky. Comcast Cable is one of the United States’ largest video, high-speed Internet, and phone providers to residential customers under the Xfinity brand, and also provides these services to businesses. It also provides wireless and security and automation services to residential customers under the Xfinity brand. NBCUniversal is global and operates news, entertainment and sports cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures, and Universal Parks and Resorts. Sky is one of Europe’s leading media and entertainment companies, connecting customers to a broad range of video content through its pay television services. It also provides communications services, including residential high-speed Internet, phone, and wireless services. Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content, and has exclusive content rights. Visit www.comcastcorporation.com for more information.

Jill Hornbacher

[email protected]

651.425.1695

Dave Nyberg

[email protected]

651.341.6401

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Children Primary/Secondary Education Technology Philanthropy Other Philanthropy Family Internet Foundation Consumer Parenting

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Comcast plans to equip more than 20 different locations in the Twin Cities with WiFi-connected “Lift Zones” before the end of 2020, designed to help students get online, participate in distance learning and do their homework. (Photo: Business Wire)

Lifeway Foods, Inc. Reports Third Quarter 2020 Results

Third Quarter Net Sales Increase 14.6% Year-Over-Year to $26 Million

MORTON GROVE, Ill., Nov. 16, 2020 (GLOBE NEWSWIRE) — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), the leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today reported financial results for the third quarter ended September 30, 2020.

“I am pleased to report that our growth trajectory accelerated in the third quarter of 2020, with a 14.6% increase in sales compared to the third quarter of 2019,” commented Julie Smolyansky, Lifeway’s President and Chief Executive Officer. “Our core business continues to show improved velocities and our decision to focus on digital engagement to fuel online grocery purchases and grocery list initiatives has paid dividends in a retail world that has been shaped by COVID-19 buying habits. We are still investing heavily in customer acquisition strategies as we continue to market products that fit the needs of a growing number of consumers. The trends for multi-serve products with immunity supporting attributes such as probiotics, vitamin D and protein look good for the remainder of 2020 and beyond, and we intend to build on our messaging to tell the Lifeway story to those new to the category. Our results show that retailers that have partnered with Lifeway are seeing gains as we drive category growth. We look forward to expanding those partnerships with increased variety to create a win-win scenario for both consumers and retailers.”   

Third Quarter Results
Net sales were $26.0 million for the third quarter of 2020, an increase of 14.6% from $22.7 million in the third quarter of 2019.

Gross profit as a percentage of net sales was 29.1% for the second quarter of 2020, an increase of 140 basis points from 27.7% for the second quarter of 2020. Gross profit percentage was 22.8% in prior year period. The increase versus the prior year was primarily due to the impact of favorable milk pricing, and to a lesser extent favorable freight costs. Additionally, depreciation expense increased reflecting our continued investment in manufacturing improvements.

Third quarter of 2020 selling expenses decreased by 21.0% to $2.1 million compared to the third quarter of 2019 at $2.7 million. Selling expenses as a percentage of net sales were 8.1% during the third quarter compared to 11.8% for the same period in 2019.

General and administrative expenses decreased $0.4 million or 4.6% to $8.7 million during the nine month period ended September 30, 2020 from $9.1 million during the same period in 2019. The decrease is primarily a result of lower compensation expense due to organizational changes made in 2019 and lower incentive compensation, partially offset by increased professional fee expense.

The effective income tax rate for the nine months ended September 30, 2020 was 29.3% compared to 8.8% in the same period last year. The increase in effective tax rate is primarily the result of non-deductible compensation expense related to equity incentive awards and state tax receivables reducing the benefit associated with a pre-tax book loss in 2019, partially offset by a benefit recognized in 2020 due to the enactment of the “Coronavirus Aid, Relief, and Economic Security Act” (the CARES Act). The Company consistently reflects non-deductible officer compensation expense, non-deductible compensation expense related to equity incentive awards and separate state tax rates from year to year. Although similar items were reflected in 2019, the percentage effect is substantially different due to the difference in pre-tax income in 2020 compared to the pre-tax loss in 2019.

The Company reported earnings of $0.12 per diluted share for the third quarter of 2020, an increase from earnings of $0.06 per diluted share in the second quarter of 2020, and as compared to a break-even of $0.00 per diluted share, in the third quarter of 2019.

Conference Call and Webcast

A pre-recorded conference call and webcast with Julie Smolyansky discussing these results with additional comments and details will be available today at approximately 8:00 a.m. ET. The webcast will be available over the Internet through the “Investor Relations” section of the Company’s website at https://lifewaykefir.com/webinars-reports/. An audio replay will be available through November 30, 2020. North American listeners may dial 844-512-2921 and international listeners may dial 412-317-6671. The passcode is 11142402.

About Lifeway Foods, Inc.

Lifeway Foods, Inc., which has been recognized as one of Forbes’ Best Small Companies, is America’s leading supplier of the probiotic, fermented beverage known as kefir. In addition to its line of drinkable kefir, the company also produces cupped kefir and cheese, frozen kefir, specialty cheeses, probiotic supplements and a ProBugs line for kids. Lifeway’s tart and tangy fermented dairy and non-dairy products are now sold across the United States, Mexico, Ireland and the United Kingdom. Learn how Lifeway is good for more than just you at www.lifewaykefir.com.

Forward-Looking Statements

This release (and oral statements made regarding the subjects of this release) contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives. These statements use words, and variations of words, such as “continue,” “build,” “future,” “increase,” “drive,” “believe,” “look,” “ahead,” “confident,” “deliver,” “outlook,” “expect,” and “predict.” Other examples of forward looking statements may include, but are not limited to, (i) statements of Company plans and objectives, including the introduction of new products, or estimates or predictions of actions by customers or suppliers, (ii) statements of future economic performance, and (III) statements of assumptions underlying other statements and statements about Lifeway or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from Lifeway’s expectations and projections. These risks, uncertainties, and other factors include: price competition; the decisions of customers or consumers; the actions of competitors; changes in the pricing of commodities; the effects of government regulation; possible delays in the introduction of new products; and customer acceptance of products and services. A further list and description of these risks, uncertainties, and other factors can be found in Lifeway’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and the Company’s subsequent filings with the SEC. Copies of these filings are available online at https://www.sec.gov, http://lifewaykefir.com/investor-relations/, or on request from Lifeway. Information in this release is as of the dates and time periods indicated herein, and Lifeway does not undertake to update any of the information contained in these materials, except as required by law. Accordingly, YOU SHOULD NOT RELY ON THE ACCURACY OF ANY OF THE STATEMENTS OR OTHER INFORMATION CONTAINED IN ANY ARCHIVED PRESS RELEASE.
Contact:

Lifeway Foods, Inc.
Phone: 847-967-1010
Email: [email protected] 

LIFEWAY FOODS, INC. AND SUBSIDIARIES

Consolidated Balance Sheets

September 30, 2020 and December 31, 2019


(In thousands)

    September 30,

2020

(Unaudited)
    December 31,

2019
 
Current assets                
Cash and cash equivalents   $ 7,616     $ 3,836  
Accounts receivable, net of allowance for doubtful accounts and discounts and allowances of $1,410 and $1,100 at September 30, 2020 and December 31, 2019, respectively     8,159       6,692  
Inventories, net     6,472       6,392  
Prepaid expenses and other current assets     1,339       1,598  
Refundable income taxes     189       681  
Total current assets     23,775       19,199  
                 
Property, plant and equipment, net     21,082       22,274  
Operating lease right-of-use asset     380       738  
                 
Intangible assets                
Goodwill and indefinite-lived intangibles     12,824       12,824  
Other intangible assets, net     35       152  
Total intangible assets     12,859       12,976  
                 
Other assets     1,800       1,800  
Total assets   $ 59,896     $ 56,987  
                 
Current liabilities                
Accounts payable   $ 6,036     $ 5,282  
Accrued expenses     2,890       4,087  
Accrued income taxes     176       154  
Total current liabilities     9,102       9,523  
Line of credit     2,763       2,745  
Operating lease liabilities     198       488  
Deferred income taxes, net     1,292       922  
Other long-term liabilities     35       58  
Total liabilities     13,390       13,736  
                 
Commitments and contingencies                
                 
Stockholders’ equity                
Preferred stock, no par value; 2,500 shares authorized; no shares issued or outstanding at September 30, 2020 and December 31, 2019            
Common stock, no par value; 40,000 shares authorized; 17,274 shares issued; 15,605 and 15,710 outstanding at September 30, 2020 and December 31, 2019, respectively     6,509       6,509  
Paid-in capital     2,532       2,380  
Treasury stock, at cost     (12,450 )     (12,601 )
Retained earnings     49,915       46,963  
Total stockholders’ equity     46,506       43,251  
                 
Total liabilities and stockholders’ equity   $ 59,896     $ 56,987  
                 

LIFEWAY FOODS, INC. AND SUBSIDIARIES

Consolidated Statements of Operations

For the three and nine Months Ended September 30, 2020 and 2019


(Unaudited)



(In thousands, except per share data)

    Three Months Ended

September 30,
    Nine Months Ended

September 30,
 
    2020     2019     2020     2019  
                         
Net sales   $ 26,039     $ 22,729     $ 76,441     $ 70,497  
                                 
Cost of goods sold     17,710       16,813       53,613       51,223  
Depreciation expense     752       743       2,326       2,235  
Total cost of goods sold     18,462       17,556       55,939       53,458  
                                 
Gross profit     7,577       5,173       20,502       17,039  
                                 
Selling expenses     2,116       2,679       7,411       8,509  
General and administrative     2,805       2,710       8,681       9,100  
Amortization expense     39       39       117       152  
Total operating expenses     4,960       5,428       16,209       17,761  
                                 
Income (loss) from operations     2,617       (255 )     4,293       (722 )
                                 
Other income (expense):                                
Interest expense     (27 )     (65 )     (96 )     (202 )
Gain on investments                 4        
(Loss) gain on sale of property and equipment           154       (28 )     183  
Other income, net           77       2       82  
Total other income (expense)     (27 )     166       (118 )     63  
                                 
Income (loss) before provision for income taxes     2,590       (89 )     4,175       (659 )
                                 
Provision (benefit) for income taxes     764       (17 )     1,223       (58 )
                                 
Net income (loss)   $ 1,826     $ (72 )   $ 2,952     $ (601 )
                                 
Earnings (loss) per common share:                                
Basic   $ 0.12     $ (0.00 )   $ 0.19     $ (0.04 )
Diluted   $ 0.12     $ (0.00 )   $ 0.19     $ (0.04 )
                                 
Weighted average common shares:                                
Basic     15,602       15,740       15,595       15,761  
Diluted     15,642       15,740       15,621       15,761  

LIFEWAY FOODS, INC. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

(Unaudited)


(In thousands)

    Nine months ended September 30,  
    2020     2019  

Cash flows from operating activities:
               
Net income (loss)   $ 2,952     $ (601 )

Adjustments to reconcile net income (loss) to operating cash flow:
               
Depreciation and amortization     2,443       2,387  
Non-cash interest expense     17       17  
Non-cash rent expense     (38 )      
Bad debt expense     (3 )     20  
Deferred revenue     (73 )     (73 )
Stock-based compensation     274       714  
Deferred income taxes     369        
Loss (gain) on sale of property and equipment     28       (183 )
Reserve for inventory obsolescence           177  

(Increase) decrease in operating assets:
               
Accounts receivable     (1,464 )     (316 )
Inventories     (80 )     (1,118 )
Refundable income taxes     492       1,921  
Prepaid expenses and other current assets     248       (399 )

Increase (decrease) in operating liabilities:
               
Accounts payable     756       2,397  
Accrued expenses     (595 )     53  
Accrued income taxes     22       (43 )
Net cash provided by operating activities     5,348       4,953  
                 

Cash flows from investing activities:
               
Purchases of property and equipment     (1,168 )     (610 )
Proceeds from sale of property and equipment     5       513  
Purchase of investments           (15 )
Net cash used in investing activities     (1,163 )     (112 )
                 

Cash flows from financing activities:
               
Purchase of treasury stock     (405 )     (538 )
Repayment of line of credit           (1,789 )
Net cash used in financing activities     (405 )     (2,327 )
                 
Net increase in cash and cash equivalents     3,780       2,514  
                 
Cash and cash equivalents at the beginning of the period     3,836       2,998  
                 
Cash and cash equivalents at the end of the period   $ 7,616     $ 5,512  
                 
Supplemental cash flow information:                
Cash paid for income taxes, net of (refunds)   $ 335     $ (1,937 )
Cash paid for interest   $ 82     $ 214  
Non-cash investing activities                
Right-of-use assets recognized at ASU 2016-02 transition   $     $ 944  
Operating lease liability recognized at ASU 2016-02 transition   $     $ 997  
Increase (decrease) in right-of-use assets and operating lease liabilities recognized after ASU 2016-02 transition   $ (58 )   $ 280  
Non-cash financing activities                
Issuance of common stock under equity incentive plans   $ 522     $  



Twist Bioscience Expands Infectious Disease Product Line Adding Comprehensive Viral Panel

Twist Bioscience Expands Infectious Disease Product Line Adding Comprehensive Viral Panel

— Panel Distinguishes Between More than 3,000 Different infectious Diseases —

SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today announced the availability of the Twist Comprehensive Viral Research Panel, a next-generation sequencing (NGS) panel that includes more than 3,000 viral genomes to enable identification of new and divergent viral species in a single sample. The panel will be bundled with an analysis platform from One Codex to enable an easy-to-use, complete end-to-end workflow that begins from the Twist library preparation and target enrichment panel and continues through publication-ready visualizations.

“With a renewed focus on public health and the impact of viral identification and containment, we are launching the Twist Comprehensive Viral Research Panel for researchers globally,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “We do not know when the next pandemic will arrive. Through tools like this, we can identify, detect, characterize and monitor an extensive range of viral diseases to inform societal decisions.”

About the Twist Comprehensive Viral Research Panel

This innovative product contains over one million unique probes to screen for 3,153 viral human and non-human pathogens. It is designed using sequences compiled from viral genomes across RefSeq, FluDB & VIPRdb databases and represents all viral families containing at least one virus known to infect humans. The panel covers all viral genome types (ssDNA, dsDNA, ssRNA, and dsRNA) and allows for quick capture and sequencing of unknown pathogens and highly divergent viral strains. The panel detects viral co-infections and can be used to differentiate between several viruses that may cause similar symptoms. Importantly, it can be used for metagenomic surveillance applications in complex sample types including stool.

An End-to-End Solution Including One Codex Platform

The Twist Comprehensive Viral Research Panel includes analysis on the One Codex platform allowing customers to generate easy-to-share publication-ready visuals and viral identification reporting for a complete solution from panel to results. One Codex is the leading bioinformatics platform for microbial genomics, supporting taxonomic and functional analysis of next-generation sequencing (NGS) data.

The product is available for Research Use Only. View the Product Sheet for more information.

About Twist Bioscience Corporation

Twist Bioscience is a leading and rapidly growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research.

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Legal Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts contained herein, are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Twist Bioscience’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties of the ability to attract new customers and retain and grow sales from existing customers; risks and uncertainties of rapidly changing technologies and extensive competition in synthetic biology could make the products Twist Bioscience is developing obsolete or non-competitive; scientific unknowns and new information relating to the SARS-CoV-2 virus; the duration, extent and impact of the COVID-19 pandemic; supply chain and other disruptions caused by the COVID-19 pandemic or otherwise; uncertainties of the retention of a significant customer; risks of third party claims alleging infringement of patents and proprietary rights or seeking to invalidate Twist Bioscience’s patents or proprietary rights; and the risk that Twist Bioscience’s proprietary rights may be insufficient to protect its technologies. 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 Twist Bioscience’s business in general, see Twist Bioscience’s risk factors set forth in Twist Bioscience’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 12, 2020. Any forward-looking statements contained in this press release speak only as of the date hereof, and Twist Bioscience specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Contact:

Argot Partners

Maeve Conneighton

212-600-1902

[email protected]

Media Contact:

Angela Bitting

925- 202-6211

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Software Biotechnology Pharmaceutical Health Data Management Infectious Diseases Technology Genetics

MEDIA:

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Kiniksa Announces Breakthrough Therapy Designation Granted to Vixarelimab for the Treatment of Pruritus Associated with Prurigo Nodularis

HAMILTON, Bermuda, Nov. 16, 2020 (GLOBE NEWSWIRE) — KiniksaPharmaceuticals, Ltd. (Nasdaq: KNSA) (“Kiniksa”), a biopharmaceutical company with a pipeline of assets designed to modulate immunological pathways across a spectrum of diseases, today announced that the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy designation to vixarelimab for the treatment of pruritus associated with prurigo nodularis, a chronic inflammatory skin condition characterized by severely pruritic skin nodules. Vixarelimab is a fully-human monoclonal antibody that targets oncostatin M receptor beta (OSMRβ).

Kiniksa’s Breakthrough Therapy application was based on data from the Phase 2a clinical trial of vixarelimab in prurigo nodularis. The Phase 2a trial met its primary efficacy endpoint: there was a statistically significant reduction in weekly-average Worst-Itch Numeric Rating Scale (WI-NRS) from baseline at Week 8 in vixarelimab recipients compared to placebo recipients. Additionally, the majority of vixarelimab recipients showed a clinically meaningful greater-than-or-equal-to 4-point weekly-average WI-NRS reduction at Week 8, and a statistically significant percentage of vixarelimab recipients achieved a prurigo nodularis-investigator’s global assessment (PN-IGA) score of 0/1 at Week 8 compared to placebo recipients.

“The FDA granting Breakthrough Therapy designation to vixarelimab for the treatment of pruritus associated with prurigo nodularis is an important step forward for patients,” said Sanj K. Patel, Chief Executive Officer and Chairman of the Board of Kiniksa. “The Phase 2a study of vixarelimab in prurigo nodularis demonstrated encouraging results in both pruritus and nodule response. We believe vixarelimab has the potential to positively impact the lives of those suffering from prurigo nodularis, a devastating disease for which there are no FDA-approved therapies.”

Kiniksa expects to initiate a Phase 2b clinical trial of vixarelimab in prurigo nodularis, evaluating a range of once-monthly dose regimens, by the end of the year.

About
Breakthrough Therapy
Designation

The FDA defines Breakthrough Therapy designation as a process designed to expedite the development and review of drug candidates that are intended to treat a serious condition, and preliminary clinical evidence indicates that the drug candidate may demonstrate substantial improvement over available therapies on a clinically significant endpoint.

About
Vixarelimab
 Phase 2a Trial in Prurigo 
Nodularis

The Phase 2a trial was a randomized, double-blind, placebo-controlled study designed to investigate the efficacy, safety, tolerability, and pharmacokinetics of vixarelimab in reducing pruritus in subjects with prurigo nodularis. The trial enrolled patients with moderate-to-severe prurigo nodularis experiencing moderate-to-severe pruritus (WI-NRS ≥ 7 at the screening visit and a mean weekly WI-NRS of ≥ 5 for each of the two consecutive weeks immediately prior to randomization). Patients were required to stop antihistamines and topical treatments, including corticosteroids, for at least two weeks prior to dosing. Prurigo nodularis treatments, other than study drug, were not allowed except for rescue. For more information, refer to ClinicalTrials.gov Identifier: NCT03816891.

About
Vixarelimab

Vixarelimab is an investigational fully-human monoclonal antibody that targets OSMRβ, which mediates signaling of interleukin-31 (IL-31) and oncostatin M (OSM), two key cytokines implicated in pruritus, inflammation and fibrosis. Kiniksa believes vixarelimab to be the only monoclonal antibody in development that targets both pathways simultaneously. Kiniksa’s lead indication for vixarelimab is prurigo nodularis, a chronic inflammatory skin condition characterized by severely pruritic skin nodules. The FDA granted Breakthrough Therapy designation to vixarelimab for the treatment of pruritus associated with prurigo nodularis in 2020.

About Kiniksa

Kiniksa is a biopharmaceutical company focused on discovering, acquiring, developing and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need. Kiniksa’s product candidates, rilonacept, mavrilimumab, vixarelimab and KPL-404, are based on strong biologic rationale or validated mechanisms, target underserved conditions and offer the potential for differentiation. These pipeline assets are designed to modulate immunological pathways across a spectrum of diseases. For more information, please visit www.kiniksa.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these identifying words. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation, statements regarding: our beliefs about research, pre-clinical and clinical trial data demonstrating encouraging results; our beliefs about the potential to positively impact the lives of patients with prurigo nodularis and the importance for such patients of vixarelimab having been granted Breakthrough Therapy designation for the treatment of prurigo nodularis; planned clinical trials and timing thereof, including a potential dose-ranging Phase 2b clinical trial of vixarelimab in prurigo nodularis; and our beliefs about the mechanisms of action of our product candidates and potential impact of their approach.

These forward-looking statements are based on management’s current plans, estimates or expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including without limitation, the following: delays or difficulty in enrollment of patients in, and activation or continuation of sites for, our clinical trials; potential complications in coordinating among requirements, regulations and guidelines of regulatory authorities across a number of jurisdictions for our global clinical trials; potential amendments to our clinical trial protocols initiated by us or required by regulatory authorities; delays or difficulty in completing our clinical trials, including as a result of the COVID-19 pandemic; potential for low accrual of events in our clinical trials; potential undesirable side effects caused by our product candidates; our potential inability to demonstrate safety and efficacy to the satisfaction of applicable regulatory authorities or otherwise producing negative, inconclusive or commercially uncompetitive results; potential for applicable regulatory authorities to not accept our BLA or sBLA filings or to delay or deny approval of any of our product candidates or to require additional trials to support any such approval; potential for changes between final data and any preliminary, interim, top-line or other data from clinical trials conducted by us or third parties, including from investigator initiated studies; impact of additional data from us or other companies; potential inability to replicate in later clinical trials positive results from earlier pre-clinical and clinical trials or studies of our product candidates potential in subsequent clinical trials conducted by us or third parties, including investigator-initiated studies; drug substance and/or drug product shortages; our reliance on third parties as the sole source of supply of the drug substance and drug products used in our product candidates; our reliance on third parties to conduct our research, pre-clinical studies, clinical trials, and other trials for our product candidates; substantial existing or new competition; impact of the COVID-19 pandemic, and measures taken in response to the pandemic, on our business and operations as well as the business and operations of our manufacturers, CROs upon whom we rely to conduct our clinical trials, and other third parties with whom we conduct business or otherwise engage, including the FDA and other regulatory authorities; changes in our operating plan and funding requirements; and our ability to attract and retain qualified personnel.

These and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on November 5, 2020 and our other reports subsequently filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s plans, estimates, or expectations as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. 


Every Second


Counts!™

Kiniksa Investor and Media Contact

Mark Ragosa
(781) 430-8289
[email protected]



HealthWarehouse.com Reports Results for Third Quarter 2020

HealthWarehouse.com Reports Results for Third Quarter 2020

Elects New Board Member; Receives BBB Torch Award for Marketplace Ethics

CINCINNATI–(BUSINESS WIRE)–
HealthWarehouse.com, Inc. (OTC: HEWA) announced today that its net sales for the third quarter of 2020 were $4,004,462. It reported a loss from operations of $15,693 for the quarter but positive cash flow, as reflected by its internal measure of Adjusted EBITDA as defined below, which was $188,631 in the third quarter.

HealthWarehouse.com is an online mail-order pharmacy authorized to sell and deliver prescription medications to all 50 states and is one of the first accredited digital pharmacies approved by the National Association of Boards of Pharmacy (NABP).

Shareholders of the Company elected a new independent director, Sara Mannix, to the Board of Directors at their virtual annual meeting held on October 7, 2020. Mannix is CEO of Mannix Marketing, a digital marketing and search engine optimization company. In addition, the Shareholders reelected the three existing Board Members and the Series B preferred director and approved a number of proposals including the increase in the number of authorized common shares, a 50-to-1 reverse split of the common shares, and increased the awards available under the 2014 equity incentive plan.

Joseph Peters, President and CEO of HealthWarehouse.com, said, “We are happy to have Sara on the Board, and look forward to her valuable contributions as we evaluate and implement an strategy to position the Company for future sales growth amidst the changing landscape in marketing and advertising during the pandemic.”

The Company also announced an agreement with the holders of its Series C Preferred stock, who retracted a previous notice of redemption and agreed to terms to convert their positions to common shares. The new agreement will enable the Company to continue the improvement to its balance sheet and capital structure.

HealthWarehouse.com was recently named a 2020 Torch Award winner by the Better Business Bureau. The award honors companies for the strength of their commitment to exceptional ethical business practices.

“Our mission is to provide affordable healthcare through honesty and compassion. Receiving this award is an honor, and a testament to the drive and dedication of our incredible team at HealthWarehouse.com,” Peters added.

Healthwarehouse.com is an essential business and continues to operate during the pandemic. Over sixty percent of its 110 employees work remotely; a dedicated fulfillment team continues to operate on-site.

“We continue to adjust operations and be as agile as possible in our procedures in the ever-changing landscape the pandemic has brought us,” Peters added. “The HealthWarehouse.com team has done an incredible job in remaining dedicated to our mission. Everyone on-site and off-site has risen to the challenge and continues to provide the excellent pharmacy services that our patients have come to know and love.”

2020 Overview:

Net Sales: Total net sales for the three and nine months ended September 30, 2020 were $4,004,462 and $13,089,244, respectively, a decrease of $31,014 (1%) and an increase of $1,204,080 (10%), respectively, over the same periods in 2019. Prescription sales including fulfillment were $3,223,364 and $10,018,051, respectively, for the three and nine months ended September 30, 2020; they represent increases of $3,961 and $641,769 (7%), respectively, over the same periods in 2019. Over-the-counter sales were $689,564 and $2,727,382, respectively, for the three and nine months ended September 30, 2020, a decrease of $46,468 (6%) and an increase of $450,268 (20%), respectively, over the same periods in 2019. The year-to-date revenue increase was due to increased order volumes resulting from higher levels of website traffic and conversions, increased third-party fulfillment revenues, and customer retention efforts.

Gross Profit: Gross profit for the three and nine months ended September 30, 2020, was $2,761,159 and $8,633,926, respectively, resulting in increases of $115,401 and $796,156, respectively, compared with results for the same periods of 2019. The increases were the result of higher sales volume and purchasing initiatives with our vendors.

Operating Expenses: Selling, general and administrative expenses were $2,731,321 and $8,651,345, respectively, for the three and nine months ended September 30, 2020, and increases of $142,027 (5%) and $926,567 (12%), respectively, compared to the same periods of 2019. The increases were primarily from higher variable expenses, including advertising, marketing, shipping, supplies and payment processing expenses, as well as salary expense related to engineering staff expansion and hero bonuses paid to all employees.

Net Income and Adjusted EBITDA: The Company reported net losses of $15,693 and $177,420, respectively, for the three and nine months ended September 30, 2020, compared with net losses of $4,830 and $83,201, respectively, for the same periods in 2019.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”), as adjusted for stock-based compensation and certain non-recurring charges (“Adjusted EBITDA”), were $188,631 for the three months and $450,680 for the nine months ended June 30, 2020. That compares with Adjusted EBITDA of $199,500 and $563,032, respectively, for the three and nine months ended June 30, 2019. EBITDA and Adjusted EBITDA are non-GAAP financial measures. Definitions of these non-GAAP terms and a reconciliation to GAAP measures are provided below.

HEALTHWAREHOUSE.COM, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

For the Three Months Ended

 

For the Nine Months Ended

September 30,

 

September 30,

2020

 

2019

 

2020

 

2019

 
Net sales

$

4,004,462

 

$

4,035,476

 

$

13,089,244

 

$

11,885,164

 

 
Cost of sales

 

1,243,303

 

 

1,389,718

 

 

4,455,318

 

 

4,047,393

 

 
Gross profit

 

2,761,159

 

 

2,645,758

 

 

8,633,926

 

 

7,837,771

 

 
Selling, general and administrative expenses

 

2,731,321

 

 

2,589,294

 

 

8,651,345

 

 

7,724,778

 

 
Net income (loss) from operations

 

29,838

 

 

56,464

 

 

(17,419

)

 

112,993

 

 
Interest expense

 

(45,530

)

 

(61,294

)

 

(160,001

)

 

(196,194

)

 

 

 

 

 

 

 

 

Net loss

 

(15,692

)

 

(4,830

)

 

(177,420

)

 

(83,201

)

 
Preferred stock:
Series B convertible contractual dividends

 

(85,559

)

 

(85,559

)

 

(256,675

)

 

(256,675

)

 
Net loss attributable to common stockholders

$

(101,251

)

$

(90,389

)

$

(434,095

)

$

(339,876

)

 
Per share data:
Net loss – basic and diluted

$

(0.00

)

$

(0.00

)

$

(0.00

)

$

(0.00

)

Series B convertible contractual dividends

$

(0.00

)

$

(0.00

)

$

(0.01

)

$

(0.01

)

 
Net loss attributable to common stockholders – basic and diluted $ (0.00 ) $ (0.00 ) $ (0.01 ) $ (0.01 )
 
Weighted average common shares outstanding – Basic and diluted

 

50,851,971

 

 

50,041,900

 

 

50,761,665

 

 

49,797,154

 

 

Use of Non-GAAP Financial Measures

HealthWarehouse.com, Inc. (the “Company”) prepares its consolidated financial statements in accordance with the United States generally accepted accounting principles (“GAAP”). In addition to disclosing financial results prepared in accordance with GAAP, the Company discloses information regarding EBITDA and Adjusted EBITDA, which are commonly used. In addition to adjusting net loss to exclude interest, taxes, depreciation and amortization (“EBITDA”), Adjusted EBITDA also excludes stock-based compensation, and certain nonrecurring charges. EBITDA and Adjusted EBITDA are not measures of performance defined in accordance with GAAP. However, Adjusted EBITDA is used internally in planning and evaluating the Company’s performance. Accordingly, management believes that disclosure of this metric offers lenders and other shareholders an additional view of the Company’s operations that, when coupled with GAAP results, provides a more complete understanding of the Company’s financial results.

Adjusted EBITDA should not be considered as an alternative to net loss or to net cash used in operating activities as a measure of operating results or of liquidity. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating the Company’s performance.

Reconciliation of Net Income (Loss) (GAAP) to Adjusted EBITDA (Non-GAAP)

 

Three Months Ended

 

 

Nine Months Ended

September 30,

 

 

September 30,

(Unaudited)

2020

 

2019

 

 

2020

 

2019

 
Net loss

$

(15,693

)

$

(4,830

)

$

(177,420

)

$

(83,201

)

Interest expense

 

45,530

 

 

61,294

 

 

160,001

 

 

196,194

 

Depreciation and amortization

 

33,319

 

 

42,800

 

 

100,282

 

 

128,337

 

EBITDA (non-GAAP)

 

63,156

 

 

99,264

 

 

82,863

 

 

241,330

 

Adjustments to EBITDA:
Stock-based compensation

 

125,475

 

 

100,236

 

 

367,817

 

 

321,702

 

 
Adjusted EBITDA

$

188,631

 

$

199,500

 

$

450,680

 

$

563,032

 

 

About HealthWarehouse.com

HealthWarehouse.com, Inc. (OTC Pink: HEWA) is America’s Leading Online Pharmacy and a pioneer in affordable healthcare. Based in Florence, Kentucky, the Company’s services are available nationwide, shipping FDA approved prescription medication and over-the-counter products direct to patients’ doors. As one of the first National Association of Boards of Pharmacy (“NABP”) Accredited Digital Pharmacies, HealthWarehouse.com services the mission of providing affordable healthcare and incredible patient services to help Americans in all 50 states. Learn more at www.HealthWarehouse.com.

Forward-Looking Statements

This announcement and the information incorporated by reference herein contain “forward­looking statements” as defined in federal securities laws, including but not limited to Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, which statements are based on our current expectations, estimates, forecasts and projections. Statements that are not historical facts, including statements about the beliefs, expectations and future plans and strategies of the Company, are forward-looking statements. Actual results may differ materially from those expressed in forward looking statements or in management’s expectations. Important factors which could cause or contribute to actual results being materially and adversely different from those described or implied by forward looking statements include, among others, risks related to competition, management of growth, access to sufficient capital to fund our business and our growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, cyber-attacks, access to sufficient inventory, government regulation and taxation, payments, and fraud. More information about factors that potentially could affect HealthWarehouse.com’s financial results is included in HealthWarehouse.com’s audited Annual Reports and Quarterly Reports available at otcmarkets.com for periods since 2016, and its filings for prior periods with the Securities and Exchange Commission.

Joseph Peters, (800) 748-7001

KEYWORDS: United States North America Ohio

INDUSTRY KEYWORDS: General Health Online Retail Health Retail Pharmaceutical

MEDIA:

Brighthouse Financial Announces Preferred Stock Dividends and Related Depositary Share Distributions

Brighthouse Financial Announces Preferred Stock Dividends and Related Depositary Share Distributions

CHARLOTTE, N.C.–(BUSINESS WIRE)–
Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that on December 28, 2020, holders of record as of December 10, 2020 (the “Record Date”) of (i) its depositary shares (the “Series A Depositary Shares” (Nasdaq: BHFAP)), each representing a 1/1,000th interest in a share of its 6.600% Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”) and (ii) its depositary shares (the “Series B Depositary Shares” (Nasdaq: BHFAO)), each representing a 1/1,000th interest in a share of its 6.750% Non-Cumulative Preferred Stock, Series B (the “Series B Preferred Stock”), will receive the following quarterly distributions, as applicable:

  • a quarterly distribution in an amount of $0.4125 per Series A Depositary Share, resulting from the company’s declaration of a quarterly dividend on the Series A Preferred Stock, which underlies the Series A Depositary Shares; and
  • a quarterly distribution in an amount of $0.421875 per Series B Depositary Share, resulting from the company’s declaration of a quarterly dividend on the Series B Preferred Stock, which underlies the Series B Depositary Shares.

On December 28, 2020, (i) the Series A Preferred Stock dividend will be paid, in an amount of $412.50 per share, to the depositary for the Series A Preferred Stock and (ii) the Series B Preferred Stock dividend will be paid, in an amount of $421.875 per share, to the depositary for the Series B Preferred Stock. The depositary will, in turn, distribute such dividends to the holders of record of the Series A Depositary Shares and the Series B Depositary Shares, as applicable, as of the Record Date.

Note Regarding Forward-Looking Statements

This news release and other oral or written statements that we make from time to time may contain information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties. We have tried, wherever possible, to identify such statements using words such as “anticipate,” “estimate,” “expect,” “project,” “may,” “will,” “could,” “intend,” “goal,” “target,” “guidance,” “forecast,” “preliminary,” “objective,” “continue,” “aim,” “plan,” “believe” and other words and terms of similar meaning, or that are tied to future periods, in connection with a discussion of future operating or financial performance. In particular, these include, without limitation, statements relating to future actions, prospective services or products, financial projections, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, as well as trends in operating and financial results.

Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining the actual future results of Brighthouse Financial. These statements are based on current expectations and the current economic environment and involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements due to a variety of known and unknown risks, uncertainties and other factors. Risks, uncertainties, and other factors that might cause such differences include the risks, uncertainties and other factors identified in Brighthouse Financial’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, particularly in the sections entitled “Risk Factors” and “Quantitative and Qualitative Disclosure About Market Risk,” as well as in Brighthouse Financial’s other subsequent filings with the U.S. Securities and Exchange Commission. Further, any forward-looking statement speaks only as of the date on which it is made, and Brighthouse Financial does not undertake any obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as otherwise may be required by law.

About Brighthouse Financial, Inc.

Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S.,1 we specialize in products designed to help people protect what they’ve earned and ensure it lasts. Learn more at brighthousefinancial.com.

1 Ranked by 2019 admitted assets. Best’s Review®: Top 200 U.S. Life/Health Insurers. A.M. Best, 2020.

FOR INVESTORS

David Rosenbaum

(980) 949-3326

[email protected]

FOR MEDIA

Deon Roberts

(980) 949-3071

[email protected]

KEYWORDS: United States North America North Carolina

INDUSTRY KEYWORDS: Professional Services Insurance Finance

MEDIA:

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Korn Ferry to Report Quarterly Earnings via Live Webcast on November 23, 2020

Korn Ferry to Report Quarterly Earnings via Live Webcast on November 23, 2020

LOS ANGELES–(BUSINESS WIRE)–
Korn Ferry (NYSE:KFY) today announced that the firm will release financial results for the fiscal year 2021 second quarter (ended October 31, 2020) on Monday, November 23, 2020.

A press release will be issued before the market opens on Monday, November 23, 2020, followed by a live webcast at 12:00 p.m. EST. The webcast will be hosted by Gary Burnison, Chief Executive Officer and Robert Rozek, Chief Financial Officer.

What:

Korn Ferry to Report Q2 FY2021 Earnings

Investor Live Webcast

 

Who:

Gary Burnison, Chief Executive Officer

Robert Rozek, Chief Financial Officer

Gregg Kvochak, Senior Vice President, Investor Relations

 

When:

12:00 p.m. EST, Monday, November 23, 2020

 

Where:

Live audio webcast and accompanying slides will be available at the following site: https://ir.kornferry.com/events-and-presentations

About Korn Ferry

Korn Ferry is a global organizational consulting firm. We work with our clients to design optimal organization structures, roles, and responsibilities. We help them hire the right people and advise them on how to reward and motivate their workforce while developing professionals as they navigate and advance their careers.

Investor Relations: Gregg Kvochak, (310) 556-8550

For Media: Dan Gugler, (310) 226-2645

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Consulting Professional Services Finance

MEDIA:

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