Market Newsdesk

EMERYVILLE, Calif., Sept. 09, 2021 (GLOBE NEWSWIRE) — Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company developing the next generation of cancer and infectious disease immunotherapies, today announced that it will host a data update webcast for investors and analysts during the European Society of Medical Oncology (ESMO) Annual Meeting 2021, September 17, 2021 at 1:30 p.m. ET.

The event will highlight the GRANITE (individualized neoantigen immunotherapy) Phase 1/2 data in advanced solid tumors which is being presented during a mini- oral presentation at ESMO 2021, in addition to data from the SLATE v1 shared neoantigen immunotherapy program in KRAS mutant advanced solid tumors.

Presenters:

• Andrew Allen, M.D., Ph.D., Gritstone’s chief executive officer, will provide a brief overview of the company, its neoantigen directed approach to immunotherapy, and next steps for the GRANITE and SLATE oncology programs
• Daniel Catenacci, M.D., assistant professor of medicine, University of Chicago, will review the most recent GRANITE data
• Thierry Andre, M.D., professor of medical oncology, St. Antoine Hospital, Assistance Publique Hôpitaux de Paris, will discuss the current treatment landscape and unmet medical need in treating patients with microsatellite stable colorectal cancer (MSS-CRC)

The presentation will be followed by a Q&A session.

To register for the webinar, please click here. The call and accompanying slides will be webcast live on the “Events” page under the “Investors & Media” section of the company’s website at www.gritstone.com. A replay of the webcast will be accessible at the same link approximately one day after its completion.

Daniel Catenacci, M.D., is an associate professor of medicine and director of the gastrointestinal oncology program at the University of Chicago. He serves as the assistant director of Translational Research in the Comprehensive Cancer Center. In addition to his clinical practice as an adult gastrointestinal medical oncologist, Dr. Catenacci is an active basic and clinical researcher, focusing on the treatment of gastroesophageal (esophagus, gastroesophageal junction, and stomach) cancers. His bench-to-bedside translational research has an overarching goal to validate and improve personalized treatment, immunotherapy, and precision medicine for gastroesophageal cancer and other GI cancers. Additionally, Dr. Catenacci designs and executes novel clinical trials to implement treatment strategies based on these laboratory and clinical discoveries. Dr. Catenacci serves as an associate editor for the Journal of American Medical Association Network Open (JAMA Netw Open) and is on the editorial board of the Journal of Clinical Oncology Precision Oncology (J Clin Oncol PO).

Thierry André, M.D., is a professor of medical oncology at the University Pierre et Marie Curie (UMPC), Paris VI, and head of the Medical Oncology Department in St. Antoine Hospital, Assistance Publique Hôpitaux de Paris. He is the founding member and general secretary of the GERCOR (Multidisciplinary Oncology Research Group) and leads the colorectal task force of GERCOR and also serves as a member of the Adjuvant Colon Cancer Endpoints (ACCENT) group. Dr. André’s main research interest is in gastrointestinal malignancies. Dr. André is a member of several scientific organizations including the American Society of Clinical Oncology (ASCO) and the European Society for Medical Oncology (ESMO), and was chairman of the GI Cancer Board for Research of the French National Institute (INCA).

About Gritstone

Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company, is developing the next generation of immunotherapies against multiple cancer types and infectious diseases. Gritstone develops its products by leveraging two key pillars—first, a proprietary machine learning-based platform, Gritstone EDGE™, which is designed to predict antigens that are presented on the surface of cells, such as tumor or virally-infected cells, that can be seen by the immune system; and, second, the ability to develop and manufacture potent immunotherapies utilizing these antigens to potentially drive the patient’s immune system to specifically attack and destroy disease-causing cells. The company’s lead oncology programs include an individualized neoantigen-based immunotherapy, GRANITE, and an “off-the-shelf” shared neoantigen-based immunotherapy, SLATE, which are being evaluated in clinical studies. Within its infectious disease pipeline, Gritstone is advancing CORAL, a COVID-19 program to develop a second-generation vaccine, with support from departments within the National Institutes of Health (NIH), the Bill & Melinda Gates Foundation, the Coalition for Epidemic Preparedness Innovations (CEPI) and through a license agreement with La Jolla Institute for Immunology. Additionally, the company has a global collaboration for the development of a therapeutic HIV vaccine with Gilead Sciences. For more information, please visit gritstone.com.

Gritstone Forward-Looking Statements

This press release contains forward-looking statements, including, but not limited to, statements related to the potential of Gritstone’s therapeutic programs; the advancements in the company’s ongoing clinical trials; the timing of data announcements related to ongoing clinical trials and the initiation of future clinical trials. Such forward-looking statements involve substantial risks and uncertainties that could cause Gritstone’s research and clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the drug development process, including Gritstone’s programs’ early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Gritstone’s ability to successfully establish, protect and defend its intellectual property and other matters that could affect the sufficiency of existing cash to fund operations. Gritstone undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Gritstone’s most recent Quarterly Report on Form 10-Q filed on August 5, 2021 and any current and periodic reports filed with the Securities and Exchange Commission.

Contacts

Investors:
Celia Economides
Chief Financial Officer
[email protected]

Media:
Dan Budwick
1AB
(973) 271-6085
[email protected]  

Results demonstrate XTreo™ technology platform provides targeted and sustained dosing of anti-inflammatory medication

Outcomes supported advancing into clinical development for LYRA’s first indication, Chronic Rhinosinusitis, with lead product candidate, LYR-210, currently poised to enter Phase 3 studies

WATERTOWN, Mass., Sept. 09, 2021 (GLOBE NEWSWIRE) — Lyra Therapeutics, Inc. (Nasdaq: LYRA), a clinical-stage therapeutics company leveraging its proprietary XTreo™ platform to enable precise, sustained, and local delivery of medications to the ear, nose and throat (ENT) passages and other diseased tissues, today announced that preclinical data for XTreo™ were published online in the peer-review journal, American Journal of Rhinology & Allergy. The manuscript titled, “Drug Release and Pharmacokinetic Evaluation of Novel Implantable Mometasone Furoate Matrices in Rabbit Maxillary Sinuses,” can be accessed online here.

The pharmacokinetics and drug release study evaluated the release of mometasone furoate (MF), a potent anti-inflammatory corticosteroid formulated into Lyra’s proprietary XTreo™ matrix, in a rabbit model. The results demonstrate that XTreo™ MF provides targeted, sustained and efficient dosing to local sinus tissues that is superior to intranasal corticosteroid sprays (INCS). LYR-210 and LYR-220, Lyra’s product candidates, are built upon the XTreo™ platform and are currently in late-stage clinical development for the treatment for chronic rhinosinusitis (CRS).

“The outcomes from this study supported Lyra’s advancement into clinical development for the first application of our novel XTreo™ platform, LYR-210 for the treatment of Chronic Rhinosinusitis (CRS), which is now poised to enter Phase 3 studies,” said Maria Palasis, Lyra’s President and Chief Executive Officer. “XTreo™ is a powerful drug delivery platform that can target a precise dose of a therapeutic agent consistently over an extended period of time, up to many months. These characteristics translate into multiple potential benefits, including increased efficacy, elimination of patient adherence issues, and avoidance of systemic side effects. We believe our proprietary platform technology can provide optimal treatment for CRS, as well as other chronic ear, nose and throat (ENT) diseases.”

Lyra’s XTreo™ technology platform enables precise, sustained, local delivery of medications to diseased tissues not accessible with conventional therapeutic approaches. The XTreo™ matrix is a tubular elastomeric mesh comprised of biocompatible and bioresorbable materials that can be formulated for delivery of a range of therapeutic agents directly to targeted tissues, with a single administration.

Study Results

The study evaluated the in vitro drug release and in vivo pharmacokinetics of novel XTreo™ MF matrices in a rabbit dorsal maxillary osteotomy model. The matrices were formulated to consistently elute MF for up to 6 months and were surgically placed bilaterally into the maxillary sinuses of New Zealand White (NZW) rabbits. Tissue and plasma MF concentrations were measured to assess the in vivo drug delivery. The in vivo and in vitro drug release kinetics of the matrices were quantified and compared to those of rabbits receiving daily Nasonex® MF nasal sprays. Key findings include:

• XTreo™ matrices self-expanded upon deployment to conform to the irregular geometry of the maxillary sinus cavities in the NZW rabbits.
• Sustained release of MF was demonstrated in vitro and in vivo for 2 MF matrices of distinct release durations and an in vitro–in vivo correlation was established.
• Therapeutic levels of MF in local tissues were measured throughout the intended dosing durations. In contrast to the variable peaks and troughs of daily nasal sprays, sustained dosing via a single administration of MF matrices was confirmed by quantifiable plasma MF concentrations over the intended dosing duration.
• Low levels of MF were detected in plasma, demonstrating that the XTreo™ matrix can maximize the therapeutic effect to the immediately contacted tissues while potentially eliminating systemic side effects.

About LYR-210 for Chronic Rhinosinusitis

LYR-210 is an investigational product candidate that utilizes Lyra’s proprietary XTreo™ platform to enable six months of local, intra-nasal, anti-inflammatory therapy from a single administration for chronic rhinosinusitis (CRS). LYR-210 is designed as a non-invasive alternative to sinus surgery for the millions of CRS patients who have failed medical management. It is a bioresorbable polymeric matrix administered in a brief, non-invasive, in-office procedure and is intended to deliver up to six months of continuous mometasone furoate drug therapy to the sinonasal passages. In the LANTERN Phase 2 study, LYR-210 (7500mcg) demonstrated rapid, clinically meaningful and durable symptom improvement as measured by the SNOT-22 score and a cardinal symptom score over six months. There are approximately 14 million patients with CRS in the US, approximately 4 million of whom fail current standard of care medical management.

About Lyra Therapeutics 

Lyra Therapeutics, Inc. is a clinical-stage therapeutics company leveraging its proprietary XTreo™ platform to enable precise, sustained, local delivery of medications to diseased tissues not accessible with conventional therapeutic approaches. Lyra’s XTreo™ platform is comprised of a biocompatible mesh scaffold, an engineered elastomeric matrix and a versatile polymer-drug complex. The company’s current pipeline of therapeutics target tissues deep in the ear, nose and throat passages and are designed to deliver continuous drug therapy for up to six months following a single non-invasive, in-office administration. Lyra’s lead product candidate, LYR-210, is entering Phase 3 clinical development for the treatment of chronic rhinosinusitis (CRS) as an alternative to primary sinus surgery. Lyra’s second product candidate, LYR-220, is entering Phase 2 development and is designed to be an alternative to revision CRS sinus surgery and post-surgical medical management. For more information, please visit www.lyratherapeutics.com and follow us on LinkedIn and Twitter.

Forward-Looking Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding the company’s clinical advancement of LYR-210 for the treatment of CRS and our expectations regarding the development and commercialization of LYR-210 pursuant to the terms of the LianBio License Agreement. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the company’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, including, but not limited to, the following: the fact that the company has incurred significant losses since inception and expects to incur losses for the foreseeable future; the company’s need for additional funding, which may not be available; the company’s limited operating history; the fact that the company has no approved products; the fact that the company’s product candidates are in various stages of development; our the fact that the company may not be successful in its efforts to identify and successfully commercialize its product candidates; the fact that clinical trials required for the company’s product candidates are expensive and time-consuming, and their outcome is uncertain; the fact that the FDA may not conclude that certain of the company’s product candidates satisfy the requirements for the Section 505(b)(2) regulatory approval pathway; the company’s inability to obtain required regulatory approvals; effects of recently enacted and future legislation; the possibility of system failures or security breaches; effects of significant competition; the fact that the successful commercialization of the company’s product candidates will depend in part on the extent to which governmental authorities and health insurers establish coverage, adequate reimbursement levels and pricing policies; failure to achieve market acceptance; product liability lawsuits; the fact that the company relies on third parties for the manufacture of materials for its research programs, pre-clinical studies and clinical trials; the company’s reliance on third parties to conduct its preclinical studies and clinical trials; the company’s inability to succeed in establishing and maintaining collaborative relationships; the company’s reliance on certain suppliers critical to its production; failure to obtain and maintain or adequately protect the company’s intellectual property rights; failure to retain key personnel or to recruit qualified personnel; difficulties in managing the company’s growth; effects of natural disasters; the fact that the global pandemic caused by COVID-19 could adversely impact the company’s business and operations, including the company’s clinical trials; the fact that the price of the company’s common stock may be volatile and fluctuate substantially; significant costs and required management time as a result of operating as a public company and any securities class action litigation. These and other important factors discussed under the caption “Risk Factors” in the company’s Quarterly Report on Form 10-Q filed with the SEC on August 9, 2021 and its other filings 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 estimates as of the date of this press release. While the company may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.

Media Contact:

Kathryn Morris
914-204-6412
[email protected]

Investor Contact:

Argot Partners
212-600-1902
[email protected]

Shipments into New Tier-1 Placements Drives
Strong
17
%
Year-over-Year
Sales Growth

Elevated Commodity/Shipping Costs
Compress Margins
Through Year-End; One-Time Uplisting Expenses Reflected in Second Quarter Expenses

EAST RUTHERFORD, NJ, Sept. 09, 2021 (GLOBE NEWSWIRE) —
MamaMancini’s Holdings, Inc. (NASDAQ: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated food products, has reported its financial results for the fiscal second quarter ended July 31, 2021.

Financial
Summary
:

		Three Months Ended July 31,								Year-over-Year
		2021				2020				% Change
Revenues		$	12.1 million			$	10.3 million				17.7	%
Gross Profit		$	3.4 million			$	3.1 million				9.5	%
Operating Expenses		$	2.8 million			$	2.3 million				22.6	%
Pre-Tax Net Income		$	0.6 million			$	0.7 million				(22.0	%)
Net Income		$	0.4 million			$	0.7 million				41.6	%
Earnings per Share		$	0.01			$	0.02				(50	%)
Cash		$	4.3 million			$	1.7 million				150	%

Second
Quarter 2022 & Subsequent Operational
Highlights
:

• Completed uplisting to the Nasdaq Capital Market on July 15, 2021, under the symbol “MMMB” to help elevate the Company’s public profile, expand its potential shareholder base, improve liquidity and enhance shareholder value.
• Advanced the Company’s active acquisition program targeting complementary food product firms with sales in the $12 to $20 million per year range, generating positive EBITDA with a product that is symbiotic to MamaMancini’s existing retail, club store and food service distribution network.  
• Secured new product placements for second and third quarter at tier-1 retailers including pasta bowls at Publix and Albertsons Safeway; stuffed peppers at BJ’s; MamaMancini’s branded retail sleeves including plant-based products as part of Amazon Fresh; and several additional big box retailer placements pending final authorization.
• Developed MamaMancini’s Branded Meatball in a Cup for Convenience Stores, with initial trial placements in the second half of 2021.
• Secured credit line from M&T Bank for potential acquisitions, with a total available credit line of up to $12.5 million, in addition to a $4.3 million cash balance.
• Received the coveted Food Product of the Month at QVC for the month of September.
• Registered to attend upcoming investor conferences nationwide including the Taglich Brothers Investment Conference on September 13^th and the LD Micro Main Event on October 12^th.

Management Commentary

“The second quarter of fiscal 2022 was highlighted by our rapid pace of growth, realizing a robust 17% revenue increase as compared to the same year-ago quarter,” said Carl Wolf, Chairman and Chief Executive Officer of MamaMancini’s. “These sales figures were driven by our previously announced product placements, many of which began to ship in the second quarter. Profits were temporarily offset by elevated commodity and shipping costs as well as one-time extraordinary expenses related to our Nasdaq listing fee and additional shareholder meeting requirements. Our go-forward sales forecasts continue to increase given our planned price increases and I would expect to see margin improvement by year-end.

“On July 15, 2021 we completed our uplisting to the Nasdaq Capital Market – a milestone for all MamaMancini’s stakeholders that has been several years in the making. We expect that this will help elevate our public profile, expand our potential shareholder base and improve liquidity. I could not be prouder of our incredibly hard-working team, many of whom were featured when we rang the Nasdaq closing bell just a few short weeks ago.

“With our active acquisition efforts well underway, I firmly believe we are still in the early innings of MamaMancini’s growth and increasing prominence as a public company. We will continue to scale operations and have only begun our capital markets journey. We are poised for success on all fronts and look forward to seeing what the future holds for our brand,” concluded Wolf.

Second
Quarter
Fiscal
202
2
Financial
Results        

Revenue for the second quarter of fiscal 2022 totaled $12.1 million, as compared to $10.3 million in the same year-ago quarter. The increase in revenue for the second quarter was a result of initial shipments as part of the Company’s previously announced new placement wins with tier-1 retailers nationwide.

Gross profit totaled $3.4 million, or 27.9% of total revenues, in the second quarter of fiscal 2022, as compared to $3.1 million, or 30.0% of total revenues, in the same year-ago quarter. The lower gross profit margin in the second quarter was due to higher inbound shipping and commodity costs which were passed on to existing customers on a time lag basis for the first two months of the quarter, and fixed pricing for a short introductory period on new placements. The Company expects profit margins will improve by year-end as commodity prices normalize and higher production volumes will result in higher plant operating efficiencies, as well as the expiration of introductory pricing with several customers.  

Operating expenses totaled $2.8 million in the second quarter of fiscal 2022, as compared to $2.3 million in the same year-ago quarter. As a percentage of sales, operating expenses totaled 23.1% in the second quarter of fiscal 2022, as compared to 22.2% in the same year-ago quarter. Operating expenses in the second quarter were affected by significant one-time expenses such as the Company’s Nasdaq uplisting and additional shareholder meeting requirements, increased shipping costs and higher director fees.

Pre-Tax Income for the second quarter of fiscal 2022 totaled $0.6 million, as compared to $0.7 million in the same year-ago quarter.

Net income for the second quarter of fiscal 2022 totaled $0.4 million, or $0.01 per diluted share, as compared to a net income of $0.7 million, or $0.02 per diluted share, in the same year-ago quarter. The decrease in net income was significantly attributable to an income tax provision of $145,439 recorded during the three months ended July 31, 2021, compared to $0 during the three months ended July 31, 2020.

Cash and cash equivalents as of July 31, 2021 were $4.3 million, as compared to $1.7 million in the same year-ago quarter and $3.2 million as of January 31, 2021. The increased cash balance benefitted from $0.2 million in cash flow from operations in the second quarter of fiscal 2022 and a total of $1.6 million fiscal year-to-date.

Conference Call

Management will host an investor conference call at 4:30 p.m. Eastern time on Thursday, September 9, 2021 to discuss the Company’s second quarter 2022 financial results, provide a corporate update, and conclude with a Q&A from participants. To participate, please use the following information:

Q
2
2022 Earnings Conference Call

Date: Thursday, September 9, 2021
Time: 4:30 p.m. Eastern time 
U.S. Dial-in: 1-844-889-4326
International Dial-in: 1-412-317-9264
Conference ID: 10159841
Webcast: https://services.choruscall.com/mediaframe/webcast.html?webcastid=rxhejL49
        
Please dial in at least five minutes before the start of the call to ensure timely participation.

A playback of the call will be available through September 16, 2021. To listen, call 1-877-344-7529 within the United States or 1-412-317-0088 when calling internationally. Please use the replay pin number 10159841.

About MamaMancini’s Holdings, Inc.    

MamaMancini’s Holdings, Inc. (NASDAQ: MMMB) is a marketer and distributor of specialty prepared, refrigerated and frozen all-natural Italian foods. MamaMancini’s product portfolio consists of over 20 products including meatballs, meat loaf, chicken parmesan, sausages and pasta bowl kits, with beef, turkey, chicken and pork varieties. The Company’s products are sold in over 45,000 locations nationwide, including at well-known retailers such as Sam’s Club, Whole Foods, Publix, Costco and Albertsons, as well as through national distributors such as Sysco and United Natural Foods. The Company also regularly maintains a direct-to-consumer presence through presentations on QVC. For more information, please visit www.mamamancinis.com.

Forward-Looking Statements        

This press release may contain “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. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company’s 10-K for the fiscal year ended January 31, 2021 and other filings made by the Company with the Securities and Exchange Commission.

Investor Relations Contact:

Lucas A. Zimmerman
Senior Vice President
MZ Group – MZ North America
(949) 259-4987
[email protected]
www.mzgroup.us

MamaMancini’s Holdings, Inc.

Condensed Consolidated Balance Sheets

		July 31, 2021				January 31, 2021
			(unaudited)
Assets
Current Assets:
Cash		$	4,252,881			$	3,190,560
Accounts receivable, net			4,702,713				3,973,793
Other receivable			107,896				–
Inventories			1,407,614				1,195,211
Prepaid expenses			447,894				519,887
Total current assets			10,918,998				8,879,451
Property and equipment, net			3,063,165				2,963,602
Intangibles			87,639				87,639
Operating lease right of use assets, net			1,585,538				1,352,483
Deferred tax asset, net			353,794				744,973
Deposits			23,156				20,177
Total Assets		$	16,032,290			$	14,048,325
Liabilities and Stockholders’ Equity
Liabilities:
Current Liabilities:
Accounts payable and accrued expenses		$	4,456,933			$	3,707,111
Operating lease liability			181,573				147,684
Finance leases payable			214,946				190,554
Total current liabilities			4,853,452				4,045,349
Operating lease liability – net			1,429,500				1,218,487
Finance leases payable – net			356,277				474,743
Total long-term liabilities			1,785,777				1,693,230
Total Liabilities			6,639,229				5,738,579
Commitments and contingencies (See Note 10)
Stockholders’ Equity:
Series A Preferred stock, $0.00001 par value; 120,000 shares authorized; 23,400 issued as of July 31, 2021 and January 31, 2021, 0 and 0 shares outstanding as of July 31, 2021 and January 31, 2021			–				–
Preferred stock, $0.00001 par value; 19,880,000 shares authorized; no shares issued and outstanding			–				–
Common stock, $0.00001 par value; 250,000,000 shares authorized; 35,725,041 and 35,603,731 shares issued and outstanding as of July 31, 2021 and January 31, 2021			359				357
Additional paid in capital			20,555,657				20,535,793
Accumulated deficit			(11,013,455	)			(12,076,904	)
Less: Treasury stock, 230,000 shares at cost, respectively			(149,500	)			(149,500	)
Total Stockholders’ Equity			9,393,061				8,309,746
Total Liabilities and Stockholders’ Equity		$	16,032,290			$	14,048,325

MamaMancini’s Holdings, Inc.

Condensed Consolidated Statements of Income

(unaudited)

		For the Three Months Ended July 31,								For the Six Months Ended July 31,
		2021				2020				2021				2020
Sales-net of slotting fees and discounts		$	12,064,584			$	10,247,564			$	22,377,984			$	21,082,505
Costs of sales			8,695,300				7,170,403				15,664,347				14,543,722
Gross profit			3,369,284				3,077,161				6,713,637				6,538,783
Operating expenses:
Research and development			30,541				25,857				53,977				55,338
General and administrative			2,753,830				2,244,539				5,222,548				4,700,726
Total operating expenses			2,784,371				2,270,396				5,276,525				4,756,064
Income from operations			584,913				806,765				1,437,112				1,782,719
Other income (expenses)
Interest			(7,549	)			(61,648	)			(17,979	)			(126,050	)
Amortization of debt discount			–				(5,350	)			–				(10,700	)
Other income			–				–				37,704				–
Total other income (expenses)			(7,549	)			(66,998	)			19,725				(136,750	)
Net income before income tax provision			577,364				739,767				1,456,837				1,645,969
Income tax provision			145,439				–				393,388				–
Net income		$	431,925			$	739,767			$	1,063,449			$	1,645,969
Net income per common share
– basic		$	0.01			$	0.02			$	0.03			$	0.05
– diluted		$	0.01			$	0.02			$	0.03			$	0.05
Weighted average common shares outstanding
– basic			35,697,568				32,262,375				35,660,440				32,128,298
– diluted			36,223,674				33,543,565				36,181,353				33,409,488

MamaMancini’s Holdings, Inc.

Condensed Consolidated Statements of Cash Flows

(unaudited)

		For the Six Months Ended
		July 31, 2021				July 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	1,063,449			$	1,645,969
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation			381,732				319,078
Amortization of debt discount			–				10,700
Share-based compensation			786				49,975
Amortization of right of use assets			91,660				68,107
Change in deferred tax asset			391,179				–
Changes in operating assets and liabilities:
Accounts receivable			(728,920	)			934,360
Other receivable			(107,896	)
Inventories			(212,403	)			(512,344	)
Prepaid expenses			71,993				(4,366	)
Security deposits			(2,979	)			–
Accounts payable and accrued expenses			749,822				(982,317	)
Operating lease liability			(79,813	)			(63,264	)
Net Cash Provided by Operating Activities			1,618,610				1,465,898
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid for fixed assets			(481,295	)			(189,287	)
Net Cash Used in Investing Activities			(481,295	)			(189,287	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of term loan			–				(250,002	)
Repayments of related party notes payable			–				(641,844	)
Proceeds from promissory note			–				330,505
Repayment of promissory note			–				(330,505	)
Borrowings of line of credit, net			–				(500,000	)
Repayment of finance lease obligations			(94,074	)			(64,165	)
Proceeds from exercise of options			19,080				7,200
Proceeds from exercise of warrants			–				1,477,103
Net Cash Provided by (Used) in Financing Activities			(74,994	)			28,292
Net Increase in Cash			1,062,321				1,304,903
Cash – Beginning of Period			3,190,560				393,683
Cash – End of Period		$	4,252,881			$	1,698,586
SUPPLEMENTARY CASH FLOW INFORMATION:
Cash Paid During the Period for:
Income taxes		$	–			$	–
Interest		$	17,979			$	128,913
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Finance lease asset additions		$	–			$	401,387
Operating lease asset additions		$	347,585			$	–

DALLAS, Sept. 09, 2021 (GLOBE NEWSWIRE) — Dave & Buster’s Entertainment, Inc., (NASDAQ:PLAY), (“Dave & Buster’s” or “the Company”), an owner and operator of entertainment and dining venues, today announced record quarterly revenues, net income, and EBITDA for its second quarter of fiscal year 2021, which ended on August 1, 2021.

The Company began the second quarter with 138 open stores, or approximately 98 percent of its total store base. As of August 1, all of the Company’s 142 stores were open, including 1 new store opened during the quarter.

Key Second Quarter 2021 Highlights

• Revenues totaled a record $377.6 million compared with $50.8 million in the second quarter of 2020 and $344.6 million in the second quarter of 2019
• Overall comparable store sales increased 3.6% compared with the same period in 2019
• Net income totaled a record $52.8 million, or $1.07 per diluted share, compared with net loss of $58.6 million, or $1.24 per share in the second quarter of 2020 and net income of $32.4 million, or $0.90 per diluted share in the second quarter of 2019
• EBITDA totaled a record $114.0 million, or 30.2% of revenues, compared with EBITDA loss of $46.0 million in the second quarter of 2020 and EBITDA of $79.0 million, or 22.9% of revenues in the second quarter of 2019
• Adjusted EBITDA totaled a record $119.2 million, or 31.6% of revenues, compared with Adjusted EBITDA loss of $38.5 million in the second quarter of 2020 and Adjusted EBITDA of $86.0 million, or 25.0% of revenues in the second quarter of 2019
• Launched new menu, completed rollout of mobile web platform and tablets, and executed new marketing strategy
• Ended the quarter with $108 million in cash and approximately $340 million of liquidity available under the Company’s $500 million revolving credit facility, net of a $150 million minimum liquidity covenant and $10 million in letters of credit
• Company has elected to redeem $55 million of 7.625% senior secured notes at 103% of principal, saving approximately $4.2 million in annualized interest

Brian Jenkins, Dave & Buster’s Chief Executive Officer, said, “Dave & Buster’s second quarter was clear evidence that the brand is back, posting record revenues and EBITDA with all 142 stores open as of the end of the quarter. The entire team has demonstrated great resilience navigating the pandemic and positioning the Company to achieve new levels of performance. Through continued execution of our strategic initiatives, including our new menu, optimized marketing, and technology investments, we are excited to move forward with a strong foundation to drive sustained profitable growth.”

Second Quarter 2021 Results

Total revenues of $377.6 million increased 642.9% from $50.8 in the second quarter of 2020 and increased 9.6% from $344.6 million in the second quarter of 2019. Comparable store sales increased 3.6% compared with the second quarter of 2019 (the Company has chosen to continue reporting comparable store sales versus 2019 in order to provide a more meaningful comparison). Non-comparable store revenue totaled $67.3 million compared with $10.4 million in the second quarter of 2020.

Operating income totaled $79.2 million, or 21.0% of revenues, compared with operating loss of $81.1 million, or (159.6)% of revenues in the second quarter of 2020 and operating income $46.2 million, or 13.4% of revenues in the second quarter of 2019.

Net income totaled $52.8 million, or $1.07 per diluted share, compared with net loss of $58.6 million, or $1.24 per share in the second quarter of 2020 and net income of $32.4 million, or $0.90 per diluted share in the second quarter of 2019.

EBITDA totaled $114.0 million, or 30.2% of revenues, compared with EBITDA loss of $46.0 million, or (90.4)% of revenues in the second quarter of 2020 and EBITDA of $79.0 million, or 22.9% of revenues in the second quarter of 2019.

Adjusted EBITDA totaled $119.2 million, or 31.6% of revenues, compared with adjusted EBITDA loss of $38.5 million, or (75.7)% of revenues in the second quarter of 2020 and adjusted EBITDA of $86.0 million, or 25.0% of revenues in the second quarter of 2019.

Store operating income before depreciation and amortization totaled $134.2 million, or 35.5% of revenues, compared with store operating loss before depreciation and amortization of $34.3 million, or (67.5)% of revenues in the second quarter of 2020 and $99.7 million, or 28.9% of revenues in the second quarter of 2019.

Balance Sheet, Liquidity and Cash Flow

The Company generated approximately $121 million in operating cash flow during the second quarter, ending the quarter with $108 million in cash and approximately $340 million of availability under its $500 million revolving credit facility, net of a $150 million minimum liquidity covenant and $10 million in letters of credit.

Total long-term debt stood at $550 million consisting of 7.625% senior secured notes maturing in 2025.   As part of its ongoing capital allocation strategy, the Company has elected to redeem $55 million, or 10%, of its senior secured notes utilizing a redemption option in the Company’s October 2020 indenture agreement. Per the agreement, up to 10% of the notes may be redeemed at 103% of principal in the first twelve-month period after issuance. The Company expects to complete this redemption by September 20, 2021, resulting in annualized interest savings of approximately $4.2 million. Upon separate election, the Company may redeem an additional 10% at 103% of principal in the second twelve-month period after issuance, which commences October 27, 2021.

Third Quarter Business Update and Outlook

The Company’s business recovery has continued through the first five weeks of the third quarter, including Labor Day Monday, during which comparable store sales increased 1.3% compared with 2019.

Based on current trends, and barring any significant downturn due to the pandemic, the Company currently expects the following:

• Third quarter comparable store sales to be approximately in line with the quarter-to-date trends compared to third quarter 2019.
• Third quarter EBITDA to be significantly higher than third quarter 2019 EBITDA of $39.8 million, but with some moderation compared with the increase in the second quarter.
• A total of four new store openings during fiscal year 2021 and the relocation of one existing location.
• FY2021 capital additions (net of tenant allowances) of approximately $95 to $100 million, with approximately 49% dedicated to new stores and other operating initiatives, 14% for games, and 37% for maintenance needs.

Quarterly Report on Form 10-Q Available

The Company’s Quarterly Report on Form 10-Q, which will be available at www.sec.gov and at the Company’s investor relations website, contains a thorough review of its financial results for the 13 and 26 weeks ended August 1, 2021.

Investor Conference Call and Webcast

Management will hold a conference call to report these results today at 4:00 p.m. Central Time (5:00 p.m. Eastern Time). The conference call can be accessed over the phone by dialing (720) 543-0206 or toll-free (800) 458-4121. A replay will be available after the call for one year beginning at 7:00 p.m. Central Time (8:00 p.m. Eastern Time) and can be accessed by dialing (412) 317-6671 or toll-free (844) 512-2921; the passcode is 8867697.

Additionally, a live and archived webcast of the conference call will be available under the Investor Relations section at www.daveandbusters.com.

About Dave & Buster’s Entertainment, Inc.

Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster’s Entertainment, Inc., is the owner and operator of 143 venues in North America that combine entertainment and dining and offer customers the opportunity to “Eat Drink Play and Watch,” all in one location. Dave & Buster’s offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Dave & Buster’s currently has stores in 40 states, Puerto Rico, and Canada.

Forward-Looking Statements

The Company cautions that this release contains forward-looking statements, including, without limitation, statements relating to the impact on our business and operations of the global spread of the novel coronavirus outbreak. These forward-looking statements involve risks and uncertainties and, consequently, could be affected by the uncertain and unprecedented impact of the coronavirus on our business and operations and the related impact on our liquidity needs; our ability to continue as a going concern; our ability to obtain waivers, and thereafter continue to satisfy covenant requirements, under our revolving credit facility; our ability to access other funding sources; the duration of government-mandated and voluntary shutdowns and restrictions; the speed with which our stores safely can be reopened and the level of customer demand following reopening; the economic impact of the coronavirus and related disruptions on the communities we serve; our overall level of indebtedness; general business and economic conditions, including as a result of the coronavirus; the impact of competition; the seasonality of the Company’s business; adverse weather conditions; future commodity prices; guest and employee complaints and litigation; fuel and utility costs; labor costs and availability; changes in consumer and corporate spending, including as a result of the coronavirus; changes in demographic trends; changes in governmental regulations; unfavorable publicity, our ability to open new stores, and acts of God. Accordingly, actual results may differ materially from the forward-looking statements, and the Company therefore cautions you against relying on such forward-looking statements. Dave & Buster’s intends these forward-looking statements to speak only as of the time of this release and does not undertake to update or revise them as more appropriate information becomes available, except as required by law.

*Non-GAAP Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with GAAP, the Company uses the following non-GAAP financial measures: EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Store operating income before depreciation and amortization, and store operating income before depreciation and amortization margin (collectively the “non-GAAP financial measures”). The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that they provide useful information about operating results, enhance the overall understanding of our operating performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP measures used by the Company in this press release may be different from the measures used by other companies.

— Financial Tables Follow –

DAVE & BUSTER’S ENTERTAINMENT, INC.
Condensed Consolidated Balance Sheets
(in thousands)
ASSETS		August 1, 2021				January 31, 2021
		(unaudited)				(audited)
Current assets:
Cash and cash equivalents		$	107,801			$	11,891
Other current assets			88,154				106,980
Total current assets			195,955				118,871
Property and equipment, net			785,227				815,027
Operating lease right of use assets			1,018,558				1,037,569
Intangible and other assets, net			384,765				381,357
Total assets		$	2,384,505			$	2,352,824
LIABILITIES AND STOCKHOLDERS’ EQUITY
Total current liabilities		$	308,933			$	271,636
Operating lease liabilities			1,248,038				1,267,791
Other long-term liabilities			59,843				63,777
Long-term debt, net			537,816				596,388
Stockholders’ equity			229,875				153,232
Total liabilities and stockholders’ equity		$	2,384,505			$	2,352,824

DAVE & BUSTER’S ENTERTAINMENT, INC.
Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share amounts)
		13 Weeks Ended							13 Weeks Ended							13 Weeks Ended
		August 1, 2021							August 2, 2020							August 4, 2019
Food and beverage revenues		$	123,006			32.6	%		$	17,002			33.4	%		$	137,921			40.0	%
Amusement and other revenues			254,632			67.4	%			33,831			66.6	%			206,678			60.0	%
Total revenues			377,638			100.0	%			50,833			100.0	%			344,599			100.0	%
Cost of food and beverage (as a percentage of food and beverage revenues)			33,127			26.9	%			4,659			27.4	%			36,934			26.8	%
Cost of amusement and other (as a percentage of amusement and other revenues)			24,584			9.7	%			4,025			11.9	%			22,689			11.0	%
Total cost of products			57,711			15.3	%			8,684			17.1	%			59,623			17.3	%
Operating payroll and benefits			80,623			21.3	%			13,756			27.1	%			80,927			23.5	%
Other store operating expenses			105,116			27.9	%			62,682			123.2	%			104,376			30.3	%
General and administrative expenses			18,470			4.9	%			9,278			18.3	%			15,991			4.6	%
Depreciation and amortization expense			34,875			9.2	%			35,160			69.2	%			32,745			9.5	%
Pre-opening costs			1,676			0.4	%			2,388			4.7	%			4,723			1.4	%
Total operating costs			298,471			79.0	%			131,948			259.6	%			298,385			86.6	%
Operating income (loss)			79,167			21.0	%			(81,115	)		-159.6	%			46,214			13.4	%
Interest expense, net			13,728			3.7	%			8,163			16.0	%			4,605			1.3	%
Income (loss) before provision (benefit) for income taxes			65,439			17.3	%			(89,278	)		-175.6	%			41,609			12.1	%
Provision (benefit) for income taxes			12,669			3.3	%			(30,676	)		-60.3	%			9,253			2.7	%
Net income (loss)		$	52,770			14.0	%		$	(58,602	)		-115.3	%		$	32,356			9.4	%
Net income (loss) per share:
Basic		$	1.10						$	(1.24	)					$	0.91
Diluted		$	1.07						$	(1.24	)					$	0.90
Weighted average shares used in per share calculations:
Basic shares			48,178,611							47,111,763							35,407,965
Diluted shares			49,229,817							47,111,763							36,015,710
Other information:
Company-owned stores at end of period			142							137							130
Store operating weeks in the period			1,817							628							1,674
Total revenue per store operating weeks in the period		$	208						$	81						$	206
The following table sets forth a reconciliation of net income to EBITDA and Adjusted EBITDA for the periods shown:
		13 Weeks Ended							13 Weeks Ended							13 Weeks Ended
		August 1, 2021							August 2, 2020							August 4, 2019
Net income (loss)		$	52,770			14.0	%		$	(58,602	)		-115.3	%		$	32,356			9.4	%
Add back: Interest expense, net			13,728							8,163							4,605
Provision (benefit) for income taxes			12,669							(30,676	)						9,253
Depreciation and amortization expense			34,875							35,160							32,745
EBITDA			114,042			30.2	%			(45,955	)		-90.4	%			78,959			22.9	%
Add back: Loss on asset disposal			112							264							406
Impairment of long-lived assets and lease termination costs			–							2,178							–
Share-based compensation			3,187							2,734							1,907
Pre-opening costs			1,676							2,388							4,723
Other costs			135							(88	)						(13	)
Adjusted EBITDA		$	119,152			31.6	%		$	(38,479	)		-75.7	%		$	85,982			25.0	%
The following table sets forth a reconciliation of operating income to store operating income before depreciation and amortization for the periods shown:
		13 Weeks Ended							13 Weeks Ended							13 Weeks Ended
		August 1, 2021							August 2, 2020							August 4, 2019
Operating income (loss)		$	79,167			21.0	%		$	(81,115	)		-159.6	%		$	46,214			13.4	%
Add back: General and administrative expenses			18,470							9,278							15,991
Depreciation and amortization expense			34,875							35,160							32,745
Pre-opening costs			1,676							2,388							4,723
Store operating income (loss) before depreciation and amortization		$	134,188			35.5	%		$	(34,289	)		-67.5	%		$	99,673			28.9	%

DAVE & BUSTER’S ENTERTAINMENT, INC.
Consolidated Statements of Operations (Unaudited)
(in thousands, except share and per share amounts)
		26 Weeks Ended							26 Weeks Ended							26 Weeks Ended
		August 1, 2021							August 2, 2020							August 4, 2019
Food and beverage revenues		$	208,764			32.5	%		$	80,922			38.4	%		$	286,142			40.4	%
Amusement and other revenues			434,214			67.5	%			129,717			61.6	%			422,039			59.6	%
Total revenues			642,978			100.0	%			210,639			100.0	%			708,181			100.0	%
Cost of food and beverage (as a percentage of food and beverage revenues)			56,284			27.0	%			22,003			27.2	%			75,688			26.5	%
Cost of amusement and other (as a percentage of amusement and other revenues)			41,198			9.5	%			14,753			11.4	%			45,660			10.8	%
Total cost of products			97,482			15.2	%			36,756			17.4	%			121,348			17.1	%
Operating payroll and benefits			130,902			20.4	%			57,493			27.3	%			163,800			23.1	%
Other store operating expenses			189,561			29.4	%			158,354			75.3	%			210,621			29.8	%
General and administrative expenses			35,561			5.5	%			23,841			11.3	%			32,837			4.6	%
Depreciation and amortization expense			69,974			10.9	%			70,512			33.5	%			63,886			9.0	%
Pre-opening costs			3,335			0.5	%			6,211			2.9	%			11,725			1.7	%
Total operating costs			526,815			81.9	%			353,167			167.7	%			604,217			85.3	%
Operating income (loss)			116,163			18.1	%			(142,528	)		-67.7	%			103,964			14.7	%
Interest expense, net			28,548			4.5	%			14,278			6.7	%			8,661			1.2	%
Income (loss) before provision (benefit) for income taxes			87,615			13.6	%			(156,806	)		-74.4	%			95,303			13.5	%
Provision (benefit) for income taxes			15,210			2.3	%			(54,660	)		-25.9	%			20,504			2.9	%
Net income (loss)		$	72,405			11.3	%		$	(102,146	)		-48.5	%		$	74,799			10.6	%
Net income (loss) per share:
Basic		$	1.51						$	(2.59	)					$	2.07
Diluted		$	1.47						$	(2.59	)					$	2.03
Weighted average shares used in per share calculations:
Basic shares			47,937,158							39,470,874							36,117,815
Diluted shares			49,272,693							39,470,874							36,803,001
Other information:
Company-owned stores at end of period			142							137							130
Store operating weeks in the period			3,450							1,461							3,290
Total revenue per store operating weeks in the period		$	186						$	144						$	215
The following table sets forth a reconciliation of net income to EBITDA and Adjusted EBITDA for the periods shown:
		26 Weeks Ended							26 Weeks Ended							26 Weeks Ended
		August 1, 2021							August 2, 2020							August 4, 2019
Net income (loss)		$	72,405			11.3	%		$	(102,146	)		-48.5	%		$	74,799			10.6	%
Add back: Interest expense, net			28,548							14,278							8,661
Provision (benefit) for income taxes			15,210							(54,660	)						20,504
Depreciation and amortization expense			69,974							70,512							63,886
EBITDA			186,137			28.9	%			(72,016	)		-34.2	%			167,850			23.7	%
Add back: Loss on asset disposal			257							417							826
Impairment of long-lived assets and lease termination costs			–							13,727							–
Share-based compensation			6,158							2,345							3,732
Pre-opening costs			3,335							6,211							11,725
Other costs			(30	)						59							33
Adjusted EBITDA		$	195,857			30.5	%		$	(49,257	)		-23.4	%		$	184,166			26.0	%
The following table sets forth a reconciliation of operating income to store operating income before depreciation and amortization for the periods shown:
		26 Weeks Ended							26 Weeks Ended							26 Weeks Ended
		August 1, 2021							August 2, 2020							August 4, 2019
Operating income (loss)		$	116,163			18.1	%		$	(142,528	)		-67.7	%		$	103,964			14.7	%
Add back: General and administrative expenses			35,561							23,841							32,837
Depreciation and amortization expense			69,974							70,512							63,886
Pre-opening costs			3,335							6,211							11,725
Store operating income (loss) before depreciation and amortization		$	225,033			35.0	%		$	(41,964	)		-19.9	%		$	212,412			30.0	%

For Investor Relations Inquiries:

Scott Bowman, CFO
Dave & Buster’s Entertainment, Inc.
972.813.1151
[email protected] 

WALTHAM, Mass., Sept. 09, 2021 (GLOBE NEWSWIRE) — TScan Therapeutics, Inc. (Nasdaq: TCRX), a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today announced that Zoran Zdraveski, J.D., Ph.D. has been appointed as Chief Legal Officer.

“We are pleased to welcome Zoran as the Chief Legal Officer of TScan. His in-depth experience in corporate law, capital raising, business development and operations will be critical to our development as we advance our liquid and solid tumor candidates to the clinic,” said David Southwell, President and Chief Executive Officer of TScan Therapeutics. “Zoran’s extensive scientific training and prior experience building intellectual property portfolios for biotech companies is of crucial importance as TScan identifies and develops TCR therapies for novel targets and creates IP around these targets.”

“I am excited to join TScan in support of the Company’s mission to create life-changing T cell therapies for patients by unleashing the untapped potential of the human immune system,” said Dr. Zdraveski. “I look forward to working alongside TScan’s world-class management team to deliver on the full potential of such a tremendous platform technology.”

Dr. Zdraveski has more than 20 years of legal, IP and business operations experience in the biopharmaceutical industry. Most recently, he served as the Chief Legal and Technology Operations Officer at Magenta Therapeutics Inc. from April 2017 to April 2021, where he established the legal team and managed all aspects of legal, intellectual property and compliance both before and after the company’s 2017 initial public offering. Prior to Magenta, he was the Vice President and Associate General Counsel at Epizyme Inc. from July 2012 to April 2017. Prior to joining Epizyme, he held patent counsel positions at Ironwood from April 2011 to July 2012 and Genzyme Therapeutics from September 2009 to April 2011. Dr. Zdraveski holds an M.S. in Chemistry and a B.F.A. and B.A. in Art and Chemistry from Southern Methodist University, a J.D. from Suffolk University Law School, and a Ph.D. in Biochemistry from the Massachusetts Institute of Technology.

About TScan Therapeutics, Inc.

TScan is a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The company’s lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. The company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors.

Forward-Looking Statements

This press release may contain forward-looking statements and information within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as “may,” “will,” “could,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “seeks,” “endeavor,” “potential,” “continue” or the negative of such words or other similar expressions can be used to identify forward-looking statements. The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation risks set forth under the caption “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of TScan’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, which is on file with the Securities and Exchange Commission (SEC) and available on the SEC’s website at https://www.sec.gov/. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although TScan believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, except as required by law, neither TScan nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements included in this press release. Any forward-looking statement included in this press release speaks only as of the date on which it was made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Media Contact:

David Rosen
Argot Partners
212-600-1902
[email protected]

Investor Contact:

Sherri Spear
Argot Partners
212-600-1902
[email protected]

Wood Dale, Illinois, Sept. 09, 2021 (GLOBE NEWSWIRE) — AAR CORP. (NYSE: AIR) today announced that it will release financial results for its first quarter of fiscal year 2022, ended August 31, 2021, after the New York Stock Exchange trading session on Thursday, September 23, 2021.

 

On Thursday, September 23, 2021 at 3:45 p.m. CT, AAR will hold a conference call to discuss the results. The conference call can be accessed by calling 866-802-4322 from inside the United States or +1-703-639-1319 from outside the United States.

 

A replay of the conference call will also be available by calling 855-859-2056 from inside the United States or +1-404-537-3406 from outside the United States (access code 8294140). The replay will be available from 7:15 p.m. CT on September 23, 2021, until 10:59 p.m. CT on September 29, 2021.

 

# # #

 

About AAR

 

AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at www.aarcorp.com.

 

 

This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 which reflect management’s expectations about future conditions. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. For a discussion of these and other risks and uncertainties, refer to “Risk Factors” in our most recent Annual Report on Form 10-K.  Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

 

Dylan Wolin
AAR CORP.
630-227-2000
[email protected]