Market Newsdesk

April 8, 2021 4:04 pm

PriceSmart Announces Fiscal 2021 Second Quarter Operating Results

NET MERCHANDISE SALES GREW 3.1%

OPERATING INCOME INCREASED BY 15.9%

DILUTED EARNINGS PER SHARE INCREASED BY 8.2%

COMPARABLE NET MERCHANDISE SALES GREW 1.1%

PR Newswire

SAN DIEGO, April 8, 2021 /PRNewswire/ — PriceSmart, Inc. (NASDAQ: PSMT), operator of 47 warehouse clubs in 12 countries and one U.S. territory, today announced its results of operations for the fiscal second quarter of 2021 which ended on February 28, 2021.

Comments from

Sherry S. Bahrambeygui, Chief Executive Officer:

“PriceSmart achieved solid results for the second quarter of fiscal year 2021, with continued focus on strengthening our Company as a trusted part of our members’ lives. The quarter started with the grand opening of our new Usaquén Club, our third club in the greater metropolitan area of Bogotá which is located in the heart of a densely populated area. We believe that the Usaquén Club should drive sales growth, provide greater convenience and strengthen our presence in a market that provides significant growth opportunity. In addition, in late February and early March, we launched our first two PriceSmart Pharmacies in Costa Rica. We believe that this incremental membership benefit will be well received and complements our Optical service. We plan to launch several more PriceSmart Pharmacies by the end of the calendar year. Additionally, we continue to invest in our omni-channel efforts to improve service and offer greater convenience to our Members.

“Despite our success, the pandemic still weighs on our business in certain markets. Similar to what we have seen in the United States, infection rates increased dramatically in our markets during and after the holiday season. This brought the return of government-mandated club closures, primarily in Panama, but we also experienced club closure days in Colombia and some other Caribbean markets. In total, we had 142 club days lost this quarter versus 51 in the first quarter of fiscal year 2021. We also faced challenges in Trinidad, as our decision to limit U.S. merchandise imports, due to a lack of sufficient U.S. dollar availability for currency exchange purposes, negatively impacted sales. However, we are pursuing avenues to increase the level of imports in support of sales in Trinidad.

“Although varying pandemic-related restrictions throughout our markets change almost daily, our global team of approximately 10,000 associates has continued to source exciting, distinctive, carefully curated merchandise and deliver goods and services at a great value in a safe and clean environment.”

Second Quarter Financial Results

Total revenues for the second quarter of fiscal year 2021 increased 3.4% to $937.6 million compared to $906.7 million in the comparable period of the prior year. For the second quarter of fiscal year 2021, net merchandise sales increased 3.1% to $898.4 million from $871.7 million in the second quarter of fiscal year 2020. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $27.3 million, or 3.2%, versus the same period in the prior year.

The Company had 47 warehouse clubs in operation as of February 28, 2021 compared to 45 warehouse clubs in operation as of February 29, 2020.

Comparable net merchandise sales for the 45 warehouse clubs that have been open for greater than 13 ½ calendar months increased 1.1% for the 13-week period ended February 28, 2021 compared to the comparable period of the prior year. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by $26.2 million or 3.0% versus the same period in the prior year.

The Company recorded operating income during the fiscal second quarter of $45.0 million compared to operating income of $38.8 million in the prior year period. Net income attributable to PriceSmart was $28.2 million, or $0.92 per diluted share, in the second quarter of fiscal year 2021 as compared to $25.6 million, or $0.85 per diluted share, in the second quarter of fiscal year 2020.

The Company reports comparable net merchandise sales on a “same week” basis with 13 weeks in each quarter beginning on a Monday and ending on a Sunday. The periods are established at the beginning of the fiscal year to provide as close a match as possible to the calendar month and quarter that is used for financial reporting purposes. This approach equalizes the number of weekend days and weekdays in each period for an improved sales comparison, as the Company experiences higher merchandise club sales on the weekends. Each of the warehouse clubs used in the calculations was open for at least 13 ½ calendar months before its results for the current period were compared with its results for the prior period.

The term “currency exchange rates” refers to the currency exchange rates the Company uses to convert net merchandise and comparable net merchandise sales for all countries where the functional currency is not the U.S. dollar into U.S. dollars. The Company calculates the effect of changes in currency exchange rates as the difference between current period activities translated using the current period’s currency exchange rates and the comparable prior year period’s currency exchange rates. The Company believes the disclosure of the effects of currency exchange rate fluctuations on the Company’s results permits investors to understand better the Company’s underlying performance.

Club days lost means the total number of days one or more clubs are closed for an entire day because of government prohibitions on offering in-store shopping. For example, if one club was prohibited from offering in-store sales for five days during a month and another club was prohibited from offering in-store sales for two days during that month, we would say that we had seven club days lost during the month.

PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Friday, April 9, 2021, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing (855) 209-8211 toll free or (412) 317-5214 for international callers and asking to join the PriceSmart, Inc. call. A digital replay will be available through April 16, 2021, following the conclusion of the call by dialing (877) 344-7529 for domestic callers, or (412) 317-0088 for international callers, and entering replay passcode 10152415.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 47 warehouse clubs in 12 countries and one U.S. territory (eight in Costa Rica and Colombia; seven in Panama; five in the Dominican Republic, four in Trinidad and Guatemala; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands). The Company also plans to open new warehouse clubs in Guatemala City, Guatemala and Bucaramanga, Colombia in the fall of 2021, and in Portmore, Jamaica in the spring of 2022. Once these three new clubs are open, the Company will operate 50 warehouse clubs.

This press release may contain forward-looking statements concerning the Company’s anticipated future revenues and earnings, adequacy of future cash flows, omni-channel initiatives, proposed warehouse club openings, the Company’s performance relative to competitors, the outcome of tax proceedings and related matters. These forward-looking statements include, but are not limited to, statements containing the words “expect,” “believe,” “will,” “may,” “should,” “project,” “estimate,” “anticipated,” “scheduled,” “intend,” and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to: adverse changes in economic conditions in the Company’s markets, natural disasters, compliance risks, volatility in currency exchange rates and illiquidity of certain local currencies in our markets, competition, consumer and small business spending patterns, political instability, increased costs associated with the integration of online commerce with our traditional business, whether the Company can successfully execute strategic initiatives, cybersecurity breaches that could cause disruptions in our systems or jeopardize the security of member or business information, cost increases from product and service providers, interruption of supply chains, COVID-19 related factors and challenges, including among others, the duration of the pandemic, the unknown long-term economic impact, the impact of government policies and restrictions that have limited access for our Members, and shifts in demand away from discretionary or higher priced products to lower priced products, exposure to product liability claims and product recalls, recoverability of moneys owed to PriceSmart from governments, and other important factors discussed in the Risk Factors section of the Company’s most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law.

For further information, please contact Michael L. McCleary, EVP, Chief Financial Officer and Principal Accounting Officer (858) 404-8826 or send an email to [email protected].

PRICESMART, INC. CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)


	Three Months Ended				Six Months Ended
	February 28,		February 29,		February 28,		February 29,
	2021		2020		2021		2020
Revenues:
Net merchandise sales	$	898,404	$	871,726	$	1,736,773	$	1,650,454
Export sales		9,706		8,434		20,587		16,708
Membership income		13,799		14,093		27,098		27,839
Other revenue and income		15,660		12,482		30,543		23,675
Total revenues		937,569		906,735		1,815,001		1,718,676
Operating expenses:
Cost of goods sold:
Net merchandise sales		755,108		743,434		1,458,727		1,406,158
Export sales		9,315		8,078		19,748		16,049
Non-merchandise		6,268		4,662		12,092		8,913
Selling, general and administrative:
Warehouse club and other operations		90,449		84,022		175,281		163,395
General and administrative		31,270		27,618		58,791		53,502
Pre-opening expenses		48		44		650		997
Loss on disposal of assets		132		68		202		139
Total operating expenses		892,590		867,926		1,725,491		1,649,153
Operating income		44,979		38,809		89,510		69,523
Other income (expense):
Interest income		445		586		936		879
Interest expense		(2,228)		(1,690)		(4,261)		(2,552)
Other income (expense), net		(292)		723		(1,837)		(262)
Total other expense		(2,075)		(381)		(5,162)		(1,935)
Income before provision for income taxes and loss of unconsolidated affiliates		42,904		38,428		84,348		67,588
Provision for income taxes		(14,565)		(12,702)		(28,183)		(22,105)
Loss of unconsolidated affiliates		(12)		(15)		(21)		(63)
Net income		28,327		25,711		56,144		45,420
Less: net income attributable to noncontrolling interest		(91)		(111)		(171)		(92)
Net income attributable to PriceSmart, Inc.	$	28,236	$	25,600	$	55,973	$	45,328
Net income attributable to PriceSmart, Inc. per share available for distribution:
Basic	$	0.92	$	0.85	$	1.82	$	1.49
Diluted	$	0.92	$	0.85	$	1.82	$	1.49
Shares used in per share computations:
Basic		30,376		30,255		30,387		30,266
Diluted		30,404		30,258		30,412		30,271

PRICESMART, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED AMOUNTS IN THOUSANDS, EXCEPT SHARE DATA)


	February 28,
	2021		August 31,
	(Unaudited)		2020
ASSETS
Current Assets:
Cash and cash equivalents	$	180,179	$	299,481
Short-term restricted cash		736		185
Short-term investments		81,430		46,509
Receivables, net of allowance for doubtful accounts of $178 as of February 28, 2021 and $147 as of August 31, 2020, respectively		11,874		13,153
Merchandise inventories		339,237		309,509
Prepaid expenses and other current assets		32,283		30,165
Total current assets		645,739		699,002
Long-term restricted cash		6,864		4,105
Property and equipment, net		712,758		692,279
Operating lease right-of-use assets, net		123,968		119,533
Goodwill		45,157		45,206
Other intangibles, net		8,974		10,166
Deferred tax assets		22,332		21,672
Other non-current assets (includes $228 and $872 as of February 28, 2021 and August 31, 2020, respectively, for the fair value of derivative instruments)		54,462		54,260
Investment in unconsolidated affiliates		10,582		10,602
Total Assets	$	1,630,836	$	1,656,825
LIABILITIES AND EQUITY
Current Liabilities:
Short-term borrowings	$	23,067	$	65,143
Accounts payable		335,821		373,172
Accrued salaries and benefits		29,278		32,946
Deferred income		28,283		23,525
Income taxes payable		10,181		7,727
Other accrued expenses and other current liabilities		35,835		37,731
Operating lease liabilities, current portion		7,975		8,594
Dividends payable		10,755		—
Long-term debt, current portion		20,406		19,437
Total current liabilities		501,601		568,275
Deferred tax liability		1,557		1,713
Long-term income taxes payable, net of current portion		5,439		5,132
Long-term operating lease liabilities		129,789		124,181
Long-term debt, net of current portion		106,160		112,610
Other long-term liabilities (includes $3,712 and $4,685 for the fair value of derivative instruments and $6,522 and $6,155 for post-employment plans as of February 28, 2021 and August 31, 2020, respectively)		11,039		12,182
Total Liabilities		755,585		824,093

PRICESMART, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED AMOUNTS IN THOUSANDS, EXCEPT SHARE DATA)


Stockholders’ Equity:
Common stock $0.0001 par value, 45,000,000 shares authorized; 31,451,915 and 31,417,576 shares issued and 30,777,030 and 30,670,712 shares outstanding (net of treasury shares) as of February 28, 2021 and August 31, 2020, respectively		3		3
Additional paid-in capital		454,881		454,455
Accumulated other comprehensive loss		(174,778)		(176,820)
Retained earnings		616,943		582,487
Less: treasury stock at cost, 674,885 shares as of February 28, 2021 and 746,864 shares as of August 31, 2020		(22,781)		(28,406)
Total stockholders’ equity attributable to PriceSmart, Inc. stockholders		874,268		831,719
Noncontrolling interest in consolidated subsidiaries		983		1,013
Total stockholders’ equity		875,251		832,732
Total Liabilities and Equity	$	1,630,836	$	1,656,825

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SOURCE PriceSmart, Inc.

April 8, 2021 4:04 pm

SkyWest, Inc. Announces First Quarter 2021 Results Call Date

PR Newswire

ST. GEORGE, Utah, April 8, 2021 /PRNewswire/ — SkyWest, Inc. (NASDAQ: SKYW) will host a conference call after the market closes on Thursday, April 29, 2021 to discuss first quarter 2021 results. The format will include an overview of the quarterly results followed by a Q&A session.

Thursday, April 29, 2021

2:30 p.m. Mountain Time

The call-in number for US callers is 1-877-418-5293
The call-in number for international callers is 1-412-717-9593
The call-in number for Canada callers is 1-866-605-3852

Please call ten minutes before the scheduled hour to ensure a prompt starting time. If you have any questions, please contact Investor Relations at 435-634-3200.

Interested parties can also access the call live via PR Newswire Webcast at:

https://www.webcaster4.com/Webcast/Page/1088/40675

In addition, a digital rebroadcast of the conference call will be available after 4:30 p.m., MT on April 29, 2021 through May 13, 2021 at 11:59 p.m. MT. US callers can access the rebroadcast by dialing 1-877-344-7529; international callers can access the rebroadcast by dialing 1-412-317-0088. The conference ID for the rebroadcast is 10154177. Your participation is welcomed and appreciated.

View original content to download multimedia:http://www.prnewswire.com/news-releases/skywest-inc-announces-first-quarter-2021-results-call-date-301264607.html

SOURCE SkyWest, Inc.

April 8, 2021 4:04 pm

Extension of lock-up period in Gilead-Galapagos collaboration agreement

Mechelen, Belgium; 08 April 2021; 22.01 CET; Galapagos (Euronext & Nasdaq; GLPG) announced today that Gilead and Galapagos signed an amendment to the share subscription agreement closed in 2019, extending the full lock-up of Gilead’s current shareholding in Galapagos to 2024.

In August 2019, Gilead and Galapagos entered into a 10-year global transformative research and development collaboration, giving Gilead access to Galapagos’ innovative portfolio of compounds and drug discovery platform. As part of the transaction, Gilead made a $1.1B equity investment, increasing Gilead’s stake in Galapagos from approximately 12.3% to 22% of the issued and outstanding shares in Galapagos. In addition, Galapagos issued two warrants, allowing Gilead to further increase its ownership of Galapagos to up to 29.9% of the company’s issued and outstanding shares. Through the exercise of a first warrant, Gilead’s shareholding further increased to 25.1%. The most recent transparency notice received by Galapagos from Gilead indicates a 25.5% ownership position.

The amendment announced today stipulates that the full lock-up is extended: Gilead is now committed to a full lock-up of 5 years, retaining all of its 16,707,477 shares (currently 25.5%) until 22 August 2024. Previously, there was a full lock-up of 2 years, followed by a 3-year period during which the company would have held a minimum of 20% of outstanding shares. The lock-up restrictions are subject to certain exceptions as provided in the share subscription agreement.

Commenting on the amendment, Gilead CFO Andrew Dickinson said, “We remain strongly committed to our long-term collaboration. We continue to see significant value in Galapagos’ unique target discovery approach, and we support Galapagos, as the company works to deliver on this potential.”

Bart Filius, COO and President of Galapagos, added, “The amendment announced today highlights Gilead’s commitment and support for our 10-year collaboration. We greatly benefit from Gilead’s scientific, developmental, and commercial know-how, and we look forward to continuing to work together as we push novel modes of action drugs forward, with the shared goal to help patients worldwide.”

About the Gilead-Galapagos collaborations

In August 2019, Galapagos and Gilead entered into a 10-year global transformative research and development collaboration. Through this agreement, Gilead gained access to an innovative portfolio of compounds and a proven drug discovery platform. Gilead received an exclusive product license and option rights to develop and commercialize all current and future programs in all countries outside Europe.

Gilead and Galapagos also have a collaboration for the development and commercialization of filgotinib, originally signed in 2015, with a new agreement announced in December 2020. Through a phased transition including the transfer of filgotinib’s marketing authorization to Galapagos, the majority of activities supporting filgotinib in Europe are expected to be assumed by Galapagos by the end of 2021. Under the new operating model, Gilead retains commercial rights and remains marketing authorization holder for filgotinib outside of Europe, including in Japan.

Gilead and Galapagos continue to investigate the potential for filgotinib to support patients living with Inflammatory Bowel Disease (IBD). Gilead will retain operational responsibility for the current trials in Crohn’s disease while Galapagos will assume operational responsibility for ongoing trials in ulcerative colitis (UC). Filgotinib in UC has been filed in Europe and a global Phase 3 program is ongoing in Crohn’s Disease. More information about clinical trials can be accessed at www.clinicaltrials.gov.

About Galapagos

Galapagos NV discovers and develops small molecule medicines with novel modes of action, several of which show promising patient results and are currently in late-stage development in multiple diseases. Our pipeline comprises Phase 3 through to discovery programs in inflammation, fibrosis, and other indications. Our ambition is to become a leading global biopharmaceutical company focused on the discovery, development, and commercialization of innovative medicines. More information at www.glpg.com.

Contacts

Investors:

Elizabeth Goodwin
VP Investor Relations
+1 781 460 1784

Sofie Van Gijsel
Senior Director Investor Relations
+32 485 19 14 15
[email protected]

Media:

Carmen Vroonen
Global Head Communications & Public Affairs
+32 473 824 874

Kyra Obolensky
Senior Director Corporate Communications
+32 491 92 64 35

[email protected]

Galapagos Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks, uncertainties and other factors that could cause actual results to diﬀer materially from those referred to in the forward-looking statements and, therefore, the reader should not place undue reliance on them. These risks, uncertainties and other factors include, without limitation, the risk that Gilead and Galapagos may not be able to successfully implement the transaction and transfer of European rights and activities related to filgotinib on the anticipated timeline or at all, inherent risks associated with clinical trial and product development activities, competitive developments, and regulatory approval requirements, the timing or likelihood of regulatory authorities’ approval of marketing authorization for filgotinib for UC, Crohn’s, or other indications, including the risk of such regulatory authorities requiring additional studies, as well as those risks and uncertainties identified in our Annual Report on Form 20-F for the year ended 31 December 2020 and our subsequent filings with the SEC. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The forward-looking statements contained herein are based on management’s current expectations and beliefs and speak only as of the date hereof, and Galapagos makes no commitment to update or publicly release any revisions to forward-looking statements in order to reflect new information or subsequent events, circumstances or changes in expectations.

Attachment

PDF version

April 8, 2021 4:04 pm

Chimerix Announces Upcoming Presentations at the American Association for Cancer Research Annual Meeting 2021

DURHAM, N.C., April 08, 2021 (GLOBE NEWSWIRE) — Chimerix (NASDAQ:CMRX), a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, today announced upcoming poster presentations at the American Association for Cancer Research (AACR) Annual Meeting 2021, which will be held virtually from April 10-15, 2021 and May 17-21, 2021.

Details for the poster presentations are as follows:

ONC201: Characterization and combinatorial efficacy in brain tumors

Title: ADME and toxicology profiles of first-in-class DRD2/ClpP-targeted imipridone ONC201
Abstract Number: 1370
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Sara Morrow, M.S., Chimerix
Session Title: Pharmacology, Pharmacogenetics, and Pharmacogenomics

Title: Response to novel imipridone combination therapies targeting H3K27M mutant diffuse midline glioma (DMG)
Abstract Number: 635
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Robyn Borsuk, M.D., Warren Alpert Medical School, Brown University
Session Title: Pediatric Cancer: Clinical Investigations

Title: The integrated stress response (ISR) is involved in the synergistic combinatorial efficacy of ONC201 and epigenetic modulators in brain tumor cell lines
Abstract Number: 1156
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Yiqun Zhang, Ph.D., Warren Alpert Medical School, Brown University
Session Title: HDAC and Methyltransferase Inhibitors

ONC201: Combinatorial efficacy in other solid tumors

Title: Combinatorial therapy of imipridones and histone deacetylase inhibitors in Ewing sarcoma cell lines demonstrates synergistic cell death
Abstract Number: 1060
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Wen-I Chang, M.D., Warren Alpert Medical School, Brown University
Session Title: Combination Therapies

Title: ONC201 as a novel anti-cancer therapeutic via modulation of inhibitors of apoptosis and up-regulation of DR5 in gastric adenocarcinoma
Abstract Number: 1044
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Cassandra Parker, M.D., Warren Alpert Medical School, Brown University
Session Title: Combination Therapies

Title: Imipridones exhibit synergy with sorafenib, HDAC inhibition, PARP inhibition, and proteasome inhibition in liver cancer cell lines
Abstract Number: 1040
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Joshua Honeyman, M.D., Warren Alpert Medical School, Brown University
Session Title: Combination Therapies

ONC206: Mechanism of action and biomarkers

Title: Predictive Biomarker Evaluation and Molecular Differentiation for Imipridones ONC201 and ONC206
Abstract Number: 393
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Varun V. Prabhu, Ph.D., Chimerix
Session Title: Biomarkers Predictive of Therapeutic Benefit

Title: Novel imipridone ONC206 suppresses ovarian cancer progression through modulating immune cell response
Abstract Number: 1440
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Chi-Lam Au-Yeung, Ph.D., MD Anderson Cancer Center
Session Title: Role of Microenvironment in therapeutic response

ONC212: Efficacy in pancreatic cancer

Title: Combination therapy with MEK inhibitors and a novel anti-neoplastic drug, imipridone ONC212, demonstrates synergy in pancreatic ductal adenocarcinoma cell lines
Abstract Number: 1006
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Alexander G. Raufi, M.D., Warren Alpert Medical School, Brown University
Session Title: Cellular Responses to Anticancer Drugs

Title: ONC212-induced impairment of oxidative phosphorylation is synergistic with glycolysis inhibition in treatment of pancreatic cancer in vitro and in vivo
Abstract Number: 2329
Date and Time: April 10, 2021 from 8:30 a.m. – 11:59 p.m. EDT
Presenter: Anna Louie, M.D., Warren Alpert Medical School, Brown University
Session Title: Metabolic Pathways

Posters will be available for registered attendees on the AACR website on April 10, 2021.

About Chimerix

Chimerix is a development-stage biopharmaceutical company dedicated to accelerating the advancement of innovative medicines that make a meaningful impact in the lives of patients living with cancer and other serious diseases. Our three most advanced clinical-stage development programs are BCV, ONC201 and DSTAT. BCV is an antiviral drug candidate developed as a potential medical countermeasure for smallpox and is currently under review for regulatory approval in the United States. ONC201 is currently in a registrational clinical program for recurrent H3 K27M-mutant glioma and a confirmatory response rate assessment is expected later this year. DSTAT is in development as a potential first-line therapy in acute myeloid leukemia and as a potential treatment for acute lung injury in hospitalized COVID-19 patients.

CONTACT:

Investor Relations:
Michelle LaSpaluto
919 972-7115
[email protected]

Will O’Connor
Stern Investor Relations
212-362-1200
[email protected]

April 8, 2021 4:03 pm

The Crypto Company Announces the Acquisition of Blockchain Training Alliance

PR Newswire

MALIBU, Calif., April 8, 2021 /PRNewswire/ — The Crypto Company (OTC: CRCW) is proud to announce the closing of the acquisition of Blockchain Training Alliance.

This acquisition of the company and its intellectual property is expected to compliment The Crypto Company’s existing Blockchain educational service offerings.

Blockchain Training Alliance, a blockchain training company, was established in 2018. They have provided training and educational courses to some of the largest companies in the world. They service both corporate and individual students. As there is a shortage of both blockchain coders and blockchain strategists, we believe in Blockchain Training Alliance’s mission: to educate, train and help to employ many thousands of people.

We believe that under The Crypto Company’s ownership we can add to the momentum that Blockchain Training Alliance has developed. With the growing demand in the blockchain industry, we see tremendous room for growth.

“The Crypto Company offers an exciting opportunity for Blockchain Training Alliance to strengthen its Blockchain training curriculum and expand on its globally recognized certifications,” said Melissa Richardson, Co-Founder and COO of Blockchain Training Alliance. “The acquisition of Blockchain Training Alliance meets The Crypto Company’s strategy to lead the Blockchain education market.”

We also believe that The Crypto Company’s existing relationship with the Blockchain at Pepperdine program at Pepperdine University is a very strategic value add for Blockchain Training Alliance. Our intent is that by working with Blockchain at Pepperdine, it will enable us to add university certifications to Blockchain Training Alliance’s suite of product offerings thereby creating a valuable competitive edge.

About The Crypto Company: The Crypto Company is engaged in the business of providing consulting services and education for distributed ledger technologies, for the building of technological infrastructure and enterprise blockchain technology solutions.

Forward-Looking Statements:
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of The Crypto Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond The Crypto Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with The Crypto Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in The Crypto Company’s periodic filings with the Security and Exchange Commission.

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SOURCE The Crypto Company

April 8, 2021 4:03 pm

Achronix Now Shipping Industry’s Highest Performance Speedster7t FPGA Devices

Designed for High-Bandwidth Workloads in Applications including AI/ML, 5G infrastructure, Networking, Computation Storage, Test and Measurement

PR Newswire

SANTA CLARA, Calif., April 8, 2021 /PRNewswire/ — Achronix Semiconductor Corporation, a leader in high-performance FPGAs and embedded FPGA (eFPGA) IP, today announced that it has begun shipping its 7nm Speedster^®7t AC7t1500 FPGAs to customers ahead of schedule. The Speedster7t family is purpose-built for high bandwidth workloads in a broad range of applications including AI/ML, 5G infrastructure, networking, computational storage, test and measurement, where Speedster7t FPGAs eliminate critical performance bottlenecks associated with traditional FPGAs.

The Speedster7t FPGA family is built on TSMC’s 7nm process technology and delivers the industry’s highest performance for networking, storage and compute acceleration. “Achronix’s Speedster7t FPGAs provide customers the highest bandwidth FPGAs available today and include innovative architectural features which make them ideal for data acceleration applications,” said Robert Blake, CEO of Achronix.

“I am exceptionally proud of what the Achronix team has accomplished. The hardware validation of the first devices is progressing ahead of schedule with devices operating as expected, which has enabled us to accelerate time-to-market from months to weeks thanks to TSMC, our foundry partner’s leading-edge process technology and manufacturing expertise.”

The AC7t1500 has been optimized for high bandwidth applications and includes the industry’s first 2D network-on-chip (NoC) with more than 20 Tbps of bi-directional bandwidth, 112 Gbps SerDes, PCIe Gen5, 400G Ethernet and 4 Tbps external memory bandwidth with its GDDR6 memory interfaces. These devices also include an array of the new innovative machine learning processors (MLPs) which are ideally suited for the diverse and high performance workloads required in AI/ML applications. The Speedster7t FPGAs are supported by the Achronix tool suite which includes Synplify Pro synthesis and the ACE place,route, and timing tools. These industry proven design tools are available today for customers to evaluate and design for Speedster7t FPGAs.

One of the major architectural innovations in Speedster7t FPGAs is the industry’s first 2D NoC. The 2D NoC has dedicated high-bandwidth paths across the entire FPGA fabric interconnecting all functional blocks and peripheral I/O to each other and to the FPGA fabric. The 2D NoC eliminates complex routing bottlenecks found in traditional FPGAs and can transmit or receive 512Gbps at each of the 80 nodes across the FPGA yielding greater than 20Tbps of bidirectional bandwidth. This structure simplifies routing and accelerates timing closure, allowing designers to use the available logic and memory resources to create differentiation in their designs.

General Availability
Engineering samples of the AC7t1500 FPGAs are shipping to customers today. Achronix expects to complete full device validation of the FPGA fabric, hard IP and peripheral interfaces in the second half of 2021 and will begin shipping production devices by the end of 2021.

In January 2021, Achronix entered into a definitive merger agreement with ACE Convergence Acquisition Corp. (Nasdaq: ACEV) in a transaction that would result in Achronix being listed on Nasdaq. The transaction is expected to close in the first half of 2021.

About Achronix Semiconductor Corporation
Achronix Semiconductor Corporation is a global, fabless semiconductor corporation based in Santa Clara, California, offering high-end FPGA-based data acceleration solutions, designed to address high-performance, compute-intensive and real-time processing applications. Achronix FPGA and eFPGA IP offerings are further enhanced by ready-to-use accelerator cards targeting AI, machine learning, networking and data center applications. All Achronix products are fully supported by the Achronix Tool Suite which enables customers to quickly develop their own custom data acceleration applications.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “intend,” “future,” “may,” “will,” “would,” “will be,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. All statements, other than statements of present or historical fact included in this press release, including Achronix’s strategy, products, operations, prospects and pipeline expectations, and plans and objectives of management are forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in domestic and foreign business, market, financial, political, and legal conditions and changes in the combined capital structure; the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities; risks related to the rollout of Achronix’s business and the timing of expected business milestones; the effects of competition on Achronix’s business; the effects of the cyclical nature of the semiconductor industry on Achronix’s business; risks related to Achronix’s customer concentration; the risks to Achronix’s business if internal processes and information technology systems are not properly maintained; risks associated with Achronix’s operational dependence on independent contractors and third parties; risks associated with Achronix’s reliance on certain suppliers for, among other things, silicon wafers, and shortages or interruptions in supply of wafers and other supplies; risks and uncertainties related to Achronix’s international operations, including possible restrictions on cross-border investments which could harm Achronix’s financial position; and risks associated with Achronix’s ability to develop new products and adapt to new markets. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of ACE’s registration statement on Form S-4, filed with the SEC on February 10, 2021, as may be amended from time to time, and other documents filed or that may be filed by ACE from time to time with the SEC and available on EDGAR at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that Achronix does not presently know, or that Achronix currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements as predictions of future events, and Achronix assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.

Contacts

Bob Siller

Achronix Semiconductor Corporation
408-889-4142
[email protected]

Achronix and Speedster are registered trademarks, and Speedcore and Speedchip are trademarks of Achronix Semiconductor Corporation. All other brands, product names and marks are the property of their respective owners.

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SOURCE Achronix

April 8, 2021 4:03 pm

Neenah, Inc. Joins CEO Action for Diversity & Inclusion

Neenah, Inc. Joins CEO Action for Diversity & Inclusion

ALPHARETTA, Ga.–(BUSINESS WIRE)–
Neenah, Inc. (NYSE: NP) today announced that it has joined CEO Action for Diversity & Inclusion™, the largest CEO-driven business commitment to advance diversity and inclusion within the workplace. One of nearly 2,000 CEOs that have come together for CEO Action for Diversity & Inclusion™, Julie Schertell, is committing herself and Neenah to advance diversity and inclusion efforts in the company and in the communities where Neenah employees live and work.

The CEO Action for Diversity and Inclusion™ commitment is driven by a realization that addressing diversity and inclusion is not a competitive issue, but a societal issue that CEOs can play a critical role in addressing. Companies from 85 industries have signed on, giving the signatory group additional unique perspectives on how to develop comfortable environments for employees to thrive.

“A diverse and inclusive workforce facilitates community, increases awareness and builds empathy,” said Julie Schertell, CEO and President – Neenah, Inc. “It also drives innovation and creativity, as employees feel accepted and welcomed to bring their whole selves to work every day, along with their unique perspectives and experiences. All of this leads to greater value, growth and opportunities for our employees, our company, communities and shareholders.”

In recent months, Neenah has taken actions to address and advance diversity and inclusion, with ongoing efforts to formalize and launch a multi-dimensional, global, diversity, equity and inclusion platform, as part of the corporate employee engagement strategy. Joining the CEO Action for Diversity & Inclusion™ is a key component of the company’s commitment and strategy to cultivate a respectful and equitable culture at Neenah.

“There’s no question about it, diversity and inclusivity make each of us better individually, but also collectively, as an organization. The originality of thoughts and ideas that come from varied backgrounds, ethnicities, races and cultures help drive greater knowledge and positively transforms our workplace and our world,” said Schertell. “I am excited to partner alongside other progressive organizations to take meaningful steps to address and advance such a critically-important societal issue.”

About Neenah, Inc.

Neenah is committed to manufacturing growth for its customers, end users, shareholders and employees. With manufacturing facilities in the North America, Europe, the United Kingdom and Malaysia, we are a leading global manufacturer of specialty materials serving customers across six continents, with headquarters in Alpharetta, GA. We are focused on growing in filtration media, specialty coatings, custom-engineered materials and premium packaging. Our materials are found in a variety of products used every day, such as transportation and water filters, release liners, premium packaging of spirits, technology and beauty products, industrial labels, tapes and abrasives and digital printing for high-end apparel. To learn more, please visit www.neenah.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005613/en/

Missy Elam-Chavez

Director, Communications and Engagement

Neenah, Inc.

678.518.3263

[email protected]

Sandra Jackson

Senior Manager, Communications and Engagement

Neenah, Inc.

678.938.3524

[email protected]

KEYWORDS: United States North America Georgia

INDUSTRY KEYWORDS: Manufacturing Professional Services Packaging Human Resources Chemicals/Plastics

MEDIA:

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April 8, 2021 4:03 pm

INVESTOR ALERT: Law Offices of Howard G. Smith Continues Investigation of Atos SE (AEXAY) on Behalf of Investors

INVESTOR ALERT: Law Offices of Howard G. Smith Continues Investigation of Atos SE (AEXAY) on Behalf of Investors

BENSALEM, Pa.–(BUSINESS WIRE)–
Law Offices of Howard G. Smith continues its investigation on behalf of Atos SE (“Atos” or the “Company”) (OTC: AEXAY) investors concerning the Company and its officers’ possible violations of federal securities laws.

On April 1, 2021, Atos issued a press release revealing that its auditors issued a “qualified opinion . . . as to two US legal entities representing 11% of 2020 consolidated revenue that require additional diligences.” Specifically, the auditors identified “internal weaknesses over financial reporting process and revenue recognition in accordance with IFRS 15 leading to several accounting errors, as well as risk of override of controls in this respect.” The Company stated that it had hired external firms to conduct an investigation and that, due to those procedures, the auditors had not been able to obtain sufficient evidence that the Company’s financial statements were free of material misstatements within the necessary timeframe.

On this news, the Company’s share price fell $1.67 per share, or 10.81%, to close at $13.78 per share on April 1, 2021, thereby injuring investors.

If you purchased Atos securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005907/en/

Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

[email protected]

www.howardsmithlaw.com

KEYWORDS: California Pennsylvania United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

April 8, 2021 4:03 pm

Integra LifeSciences to Host First Quarter 2021 Financial Results Conference Call on April 28, 2021

PRINCETON, N.J., April 08, 2021 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (NASDAQ: IART), a leading global medical technology company, will release first quarter 2021 financial results on Wednesday, April 28, 2021 prior to market open. In conjunction with the earnings release, Integra’s management team will host a conference call at 8:30 a.m. ET.

The live call is accessible by dialing (800) 353-6461 and using the passcode 8109382. A simultaneous webcast of the call will be available via the Company’s website at www.integralife.com.

A webcast replay of the call can be accessed through the Investor Relations homepage of Integra’s website at www.integralife.com. A replay of the call will be available until May 8, 2021 by dialing (888) 203-1112 and using the passcode 8109382.

About Integra LifeSciences

Integra LifeSciences is a global leader in regenerative tissue technologies and neurosurgical solutions dedicated to limiting uncertainty for clinicians, so they can focus on providing the best patient care. Integra offers a comprehensive portfolio of high quality, leadership brands that include AmnioExcel®, Bactiseal®, CerebroFlo®, CereLink® Certas® Plus, Codman®, CUSA®, Cytal®, DuraGen®, DuraSeal®, Gentrix®, ICP Express®, Integra®, MatriStem® UBM, MAYFIELD®, MediHoney®, MicroFrance®, MicroMatrix®, PriMatrix®, SurgiMend®, TCC-EZ® and VersaTru®. For the latest news and information about Integra and its products, please visit www.integralife.com.

Investor Relations:

Michael Beaulieu
Director, Investor Relations
(609) 529-4812
[email protected]

Media Contact:

Laurene Isip
Vice President, Global Corporate Communications and Public Relations
(609) 208-8121
[email protected]

April 8, 2021 3:59 pm

New England Service Company To be Acquired by Aquarion Water Company

Region’s largest private water company expands operations in Connecticut, Massachusetts and New Hampshire

PR Newswire

BRIDGEPORT, Conn., April 8, 2021 /PRNewswire/ — Aquarion Company (Aquarion), parent of Aquarion Water Company, and New England Service Company (NESC) (OTC Pink Sheets Trading Symbol: NESW) today announced that they have entered into a definitive agreement whereby Aquarion will acquire all outstanding shares of NESC and NESC will become a wholly-owned subsidiary of Aquarion. Aquarion is a water supply company and holding company based in Bridgeport, Connecticut, providing regulated water service to customers in Connecticut, Massachusetts, and New Hampshire. NESC is a holding company based in Plainville, Connecticut providing regulated water service to customers in Connecticut, Massachusetts, and New Hampshire.

Under the agreement, which was unanimously approved by the Boards of Directors of both Aquarion and NESC, the acquisition will be executed through a stock-for-stock transaction that is structured to be a tax-free reorganization. The agreement provides that the stockholders of NESC will receive 0.51208 shares of the common shares of Aquarion’s parent, Eversource Energy (Eversource) (NYSE: ES), in exchange for each share of NESC common stock. The fixed exchange ratio implies a $44.90 per share price based on the $87.68 closing price of Eversource Energy common shares on April 6, 2021. In connection with the exchange, Eversource Energy will issue approximately 463,000 shares of ES Common Stock at closing.

The merger includes NESC’s Valley Water System in Connecticut, Colonial Water Company and Mountain Water Systems in Massachusetts, and Abenaki Water Company in New Hampshire, as well as unregulated service operations throughout New England. The merger will add nearly 10,000 customers to Aquarion’s existing base of 216,000 customers. Under the agreement, all NESC employees will be retained.

“This merger will create long-term benefits for customers, employees, and the communities we serve,” said Donald Morrissey, President of Aquarion Water Company. “We will make investments in these water systems focused on reliability and water quality and deliver a superior customer experience. We also welcome NESC’s dedicated employees to the Aquarion team. I’m confident that we share a similar passion for delivering superior water service to customers and the communities we serve and being great stewards of the environment.”

Over the last ten years, Aquarion has integrated over 70 water systems into its operations, strengthening the company’s ability to deliver high-quality water to communities throughout the region.

“I am pleased to announce the NESC and Aquarion combination and look forward to working with Aquarion’s leadership team on a smooth transition for our customers and employees,” said Don Vaughan, NESC Chairman. He also noted, “Aquarion is well-positioned to deliver the reliable high-quality water service that our customers expect.” NESC President, Nicholas LaChance, added “The stockholders, customers and employees of NESC will benefit from this deal with Aquarion. We view this transaction with Aquarion as a win for all of our stakeholders, and we look forward to working closely with their team.”

The completion of the transaction will require approval by the stockholders of NESC, and the NESC Board of Directors has resolved to recommend the adoption of the merger agreement by the stockholders. The transaction is also subject to the approval of regulatory authorities, including the Connecticut Public Utilities Regulatory Authority, Massachusetts Department of Public Utilities, and New Hampshire Public Utilities Commission, and satisfaction of several other conditions. The parties plan to file all required regulatory applications over the coming months with an anticipated closing by the end of 2021.

Advisors and Counsel

Ropes & Gray LLP served as counsel to Aquarion Company and Eversource Energy in the transaction. Boenning & Scattergood, Inc. provided a fairness opinion to the Board of Directors of New England Service Company. Cranmore, FitzGerald and Meaney served as counsel to New England Service Company.

About Aquarion Water Company:

Aquarion Water Company is the public water supply company for more than 625,000 people in 52 cities and towns throughout Connecticut, as well as serving customers in Massachusetts and New Hampshire. It is the largest investor-owned water utility in New England and among the seven largest in the U.S. Based in Bridgeport, CT, Aquarion has been in the public water supply business since 1857. Across its operations, Aquarion strives to act as a responsible steward of the environment and to assist the communities it serves in promoting sustainable practices. Aquarion Company is a wholly-owned subsidiary of Eversource. For more information on Aquarion Water Company, please visit www.aquarionwater.com or www.facebook.com/aquarionwater.

About New England Service Company:

Headquartered in Plainville, Connecticut, NESC is predominantly involved in the operation, management and financing of water systems and other related activities. NESC was formed in 1997 to operate in both regulated and unregulated water markets. NESC is the sole stockholder of four regulated water companies. For more information on New England Service Company please visit www.NewEnglandServiceCompany.com.

This news release includes statements concerning Aquarion and Aquarion Water Company’s expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance or growth and other statements that are not historical facts, including statements regarding the planned merger with New England Service Company, the timing of such transaction and benefits anticipated from such transaction. These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, readers can identify these forward-looking statements through the use of words or phrases such as “will,” “estimate,” “expect,” “anticipate,” “intend,” “plan,” “project,” “believe,” “forecast,” “should,” “could” and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Factors that may cause actual results to differ materially from those included in the forward-looking statements include, but are not limited to: the transaction is subject to conditions to closing, including regulatory approvals, that may not be satisfied; it may take longer than anticipated to consummate the transaction; we may not realize the benefits we anticipate from the transaction; unforeseen liabilities; risks relating to integration of the acquired business; and other presently unknown or unforeseen factors.

Other risk factors are detailed in Eversource Energy’s reports filed with the Securities and Exchange Commission (SEC) and updated as necessary, and are available on Eversource Energy’s website at www.eversource.com and on the SEC’s website at www.sec.gov. All such factors are difficult to predict and contain uncertainties that may materially affect Aquarion or Aquarion Water Company’s actual results, many of which are beyond our control. You should not place undue reliance on the forward-looking statements; each speaks only as of the date on which such statement is made, except as required by federal securities laws, and Aquarion Water Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.

Additional Information

This communication does not constitute an offer to buy or solicitation of any offer to sell securities. This communication relates to a proposed business combination transaction between Aquarion Company and New England Service Company. In connection with the proposed business combination, Eversource Energy will file a registration statement with the SEC. This communication is not a substitute for any registration statement, prospectus/proxy statement or other document Eversource Energy, Aquarion Company and/or New England Service Company may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF NEW ENGLAND SERVICE COMPANY ARE URGED TO READ CAREFULLY THE REGISTRATION STATEMENT, PROSPECTUS, PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT EVERSOURCE ENERGY, AQUARION COMPANY, NEW ENGLAND SERVICE COMPANY AND THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of these documents (when they are available) and other related documents filed with the SEC at the SEC’s web site at www.sec.gov or by directing a request to Eversource’s Investor Relations department at (860) 665-5154 or by email to [email protected].

Certain Information Regarding Participants

This filing may be deemed solicitation material in respect of the proposed business combination transaction between Aquarion Company and New England Service Company. The directors, trustees, executive officers and certain other members of management and employees of Eversource Energy, Aquarion Company and New England Service Company may be deemed “participants” in the solicitation of proxies from stockholders of New England Service Company in favor of the proposed merger. You can find information about Eversource’s trustees and executive officers in Eversource’s annual report on Form 10-K for the year ended December 31, 2020, which was filed with the SEC on February 17, 2021 and its proxy statement for its 2021 annual meeting filed with the SEC on March 26, 2021. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the stockholders of New England Service Company in connection with the proposed merger will be set forth in the registration statement, prospectus/proxy statement or other documents filed with the SEC if any when they become available. You may obtain these documents (when they become available) free of charge at the SEC’s web site at www.sec.gov and from Investor Relations at Eversource as described above.

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SOURCE Aquarion Water Company