Market Newsdesk

MONDOVI, Wisc., April 15, 2021 (GLOBE NEWSWIRE) — Marten Transport, Ltd. (Nasdaq/GS:MRTN) today reported a 31.3% improvement in net income to $18.0 million, or 22 cents per diluted share, for the first quarter ended March 31, 2021, from $13.7 million, or 17 cents per diluted share, for the first quarter of 2020.

	Operating Results Comparison
			Percentage			Percentage			Percentage
			Increase			Increase			Increase
			Three Months			Year			Year
			Ended			Ended			Ended
			March 31,			December 31,			December 31,
			2021 vs. 2020			2020 vs. 2019			2019 vs. 2018
	Operating revenue		2.0	%		3.7	%		7.1	%
	Operating revenue, net of fuel surcharges		2.5	%		6.8	%		8.6	%
	Operating income		33.1	%		21.9	%		8.7	%
	Net income		31.3	%		13.8	%		11.0	%

Operating revenue improved 2.0% to $223.0 million for the first quarter of 2021 from $218.6 million for the first quarter of 2020. Excluding fuel surcharges, operating revenue improved 2.5% to $198.2 million for the 2021 quarter from $193.4 million for the 2020 quarter. Fuel surcharge revenue decreased slightly to $24.9 million for the 2021 quarter from $25.2 million for the 2020 quarter.

Operating income improved 33.1% to $24.0 million for the first quarter of 2021 from $18.0 million for the first quarter of 2020.

Operating expenses as a percentage of operating revenue improved to 89.2% for the first quarter of 2021 from 91.8% for the first quarter of 2020. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, improved to 87.9% from 90.7%.

Chairman and Chief Executive Officer Randolph L. Marten said, “Our talented and determined people followed up the impact of the severe winter weather in February with an extremely strong finish to our first quarter, earning 10 cents per diluted share in the month of March. The 33.1% operating income improvement in our 2021 first quarter continues the consistent solid growth we achieved in 2020 of 21.9% and in 2019 of 8.7%, demonstrating our earnings leverage across some challenging operating environments.”

“We have been increasing and will continue to increase the compensation from our customers for our premium services within the tightening freight market, which is the result of both accelerating demand and constraining capacity driven by the intensifying national driver shortage. We expect to continue to build on our momentum in expanding the capacity we provide within our unique multifaceted business model across our diverse customer base with our continued improvements to our aggressive levels of driver compensation and benefits, safety and technology.”

“We embrace our responsibility to keep our valued drivers, maintenance personnel and employees across all functions and regions safe and healthy as they each contribute to our transporting and distributing the food, beverages and other consumer goods essential to millions of people in North America. We paid our drivers $876,000 this February for their available hours not driven due to the persistent unsafe weather conditions, compared with $46,000 in February of 2020.”

Marten Transport, with headquarters in Mondovi, Wis., is a multifaceted business offering a network of refrigerated and dry truck-based transportation capabilities across the Company’s five distinct business platforms – Truckload, Dedicated, Intermodal, Brokerage and MRTN de Mexico. Marten is one of the leading temperature-sensitive truckload carriers in the United States, specializing in transporting and distributing food, beverages and other consumer packaged goods that require a temperature-controlled or insulated environment. The Company offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include a discussion of Marten’s prospects for future growth and by their nature involve substantial risks and uncertainties, and actual results may differ materially from those expressed in such forward-looking statements. Important factors known to the Company that could cause actual results to differ materially from those discussed in the forward-looking statements are discussed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACTS: Tim Kohl, President, and Jim Hinnendael, Executive Vice President and Chief Financial Officer, of Marten Transport, Ltd., 715-926-4216.

MARTEN TRANSPORT, LTD.

CONSOLIDATED CONDENSED BALANCE SHEETS

		March 31,				December 31,
(In thousands, except share information)		2021				2020
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	88,583			$	66,127
Receivables:
Trade, net			89,552				83,426
Other			3,489				4,202
Prepaid expenses and other			19,434				21,903
Total current assets			201,058				175,658
Property and equipment:
Revenue equipment, buildings and land, office equipment and other			934,405				930,123
Accumulated depreciation			(281,812	)			(275,950	)
Net property and equipment			652,593				654,173
Other noncurrent assets			1,698				1,805
Total assets		$	855,349			$	831,636
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	32,060			$	25,702
Insurance and claims accruals			41,712				39,595
Accrued and other current liabilities			24,079				24,497
Total current liabilities			97,851				89,794
Deferred income taxes			122,183				121,098
Noncurrent operating lease liabilities			337				411
Total liabilities			220,371				211,303
Stockholders’ equity:
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding			–				–
Common stock, $.01 par value per share; 192,000,000 shares authorized; 82,774,936 shares at March 31, 2021, and 82,705,005 shares at December 31, 2020, issued and outstanding			828				827
Additional paid-in capital			85,019				85,070
Retained earnings			549,131				534,436
Total stockholders’ equity			634,978				620,333
Total liabilities and stockholders’ equity		$	855,349			$	831,636

MARTEN TRANSPORT, LTD.

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

		Three Months
		Ended March 31,
(In thousands, except per share information)		2021				2020
Operating revenue		$	223,046			$	218,646
Operating expenses (income):
Salaries, wages and benefits			72,998				72,761
Purchased transportation			40,765				40,445
Fuel and fuel taxes			28,937				28,297
Supplies and maintenance			11,015				12,228
Depreciation			25,687				25,427
Operating taxes and licenses			2,712				2,639
Insurance and claims			11,446				12,284
Communications and utilities			2,083				1,985
Gain on disposition of revenue equipment			(1,984	)			(1,555	)
Other			5,389				6,103
Total operating expenses			199,048				200,614
Operating income			23,998				18,032
Other			(10	)			(97	)
Income before income taxes			24,008				18,129
Income taxes expense			6,002				4,411
Net income		$	18,006			$	13,718
Basic earnings per common share		$	0.22			$	0.17
Diluted earnings per common share		$	0.22			$	0.17
Dividends declared per common share		$	0.04			$	0.027

MARTEN TRANSPORT, LTD.

SEGMENT INFORMATION

(Unaudited)

										Dollar				Percentage
										Change				Change
	Three Months									Three Months				Three Months
	Ended									Ended				Ended
	March 31,									March 31,				March 31,
(Dollars in thousands)		2021				2020				2021 vs. 2020				2021 vs. 2020
Operating revenue:
Truckload revenue, net of fuel surcharge revenue		$	83,919			$	83,857			$	62				0.1	%
Truckload fuel surcharge revenue			10,996				11,275				(279	)			(2.5	)
Total Truckload revenue			94,915				95,132				(217	)			(0.2	)
Dedicated revenue, net of fuel surcharge revenue			66,902				64,159				2,743				4.3
Dedicated fuel surcharge revenue			11,335				10,878				457				4.2
Total Dedicated revenue			78,237				75,037				3,200				4.3
Intermodal revenue, net of fuel surcharge revenue			19,446				20,594				(1,148	)			(5.6	)
Intermodal fuel surcharge revenue			2,558				3,086				(528	)			(17.1	)
Total Intermodal revenue			22,004				23,680				(1,676	)			(7.1	)
Brokerage revenue			27,890				24,797				3,093				12.5
Total operating revenue		$	223,046			$	218,646			$	4,400				2.0	%
Operating income:
Truckload		$	11,415			$	6,785			$	4,630				68.2	%
Dedicated			8,936				8,533				403				4.7
Intermodal			1,461				1,306				155				11.9
Brokerage			2,186				1,408				778				55.3
Total operating income		$	23,998			$	18,032			$	5,966				33.1	%
Operating ratio:
Truckload			88.0	%			92.9	%
Dedicated			88.6				88.6
Intermodal			93.4				94.5
Brokerage			92.2				94.3
Consolidated operating ratio			89.2	%			91.8	%

MARTEN TRANSPORT, LTD.

OPERATING STATISTICS

(Unaudited)

		Three Months
		Ended March 31,
		2021				2020
Truckload Segment:
Revenue (in thousands)		$	94,915			$	95,132
Average revenue, net of fuel surcharges, per tractor per week(1)		$	4,057			$	3,814
Average tractors(1)			1,609				1,691
Average miles per trip			534				559
Non-revenue miles percentage(2)			10.3	%			11.2	%
Total miles (in thousands)			38,283				41,039
Dedicated Segment:
Revenue (in thousands)		$	78,237			$	75,037
Average revenue, net of fuel surcharges, per tractor per week(1)		$	3,214			$	3,304
Average tractors(1)			1,619				1,494
Average miles per trip			307				306
Non-revenue miles percentage(2)			0.8	%			0.7	%
Total miles (in thousands)			31,999				31,536
Intermodal Segment:
Revenue (in thousands)		$	22,004			$	23,680
Loads			7,982				9,737
Average tractors			134				100
Brokerage Segment:
Revenue (in thousands)		$	27,890			$	24,797
Loads			14,575				16,108
At March 31, 2021 and March 31, 2020:
Total tractors(1)			3,361				3,377
Average age of company tractors (in years)			1.6				1.8
Total trailers			5,344				5,420
Average age of company trailers (in years)			3.2				2.6
Ratio of trailers to tractors(1)			1.6				1.6

		Three Months
		Ended March 31,
(In thousands)		2021				2020
Net cash provided by operating activities		$	43,570			$	43,480
Net cash used for investing activities			(17,417	)			(36,632	)
Net cash used for financing activities			(3,697	)			(2,173	)
Weighted average shares outstanding:
Basic			82,758				82,214
Diluted			83,359				82,864

(1)		Includes tractors driven by both company-employed drivers and independent contractors. Independent contractors provided 133 and 106 tractors as of March 31, 2021 and 2020, respectively.
(2)		Represents the percentage of miles for which the company is not compensated.

MINNEAPOLIS, April 15, 2021 (GLOBE NEWSWIRE) — Clearfield, Inc. (NASDAQ: CLFD), the specialist in fiber management for communication service providers, will hold a conference call on Thursday, April 22, 2021 at 5:00 p.m. Eastern time (4:00 p.m. Central time) to discuss its financial results for the fiscal second quarter ended March 31, 2021.

Financial results will be issued in a press release and the company’s FieldReport prior to the call, which will be available in the investor relations section of the company’s website. Comprised of presentation slides that will be used throughout the call, the FieldReport will provide additional insight into the company’s financial and operational performance.

Clearfield’s President and CEO Cheri Beranek and CFO Dan Herzog will host the presentation, followed by a question and answer period.

Date: Thursday, April 22, 2021
Time: 5:00 p.m. Eastern time (4:00 p.m. Central time)
U.S. dial-in: 1-877-407-0792        
International dial-in: 1-201-689-8263
Conference ID: 13715280

The conference call will be webcast live and available for replay here.

Please call the conference telephone number 10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 1-949-574-3860.

A replay of the call will be available after 8:00 p.m. Eastern time on the same day through May 6, 2021.

U.S. replay dial-in: 1-844-512-2921
International replay dial-in: 1-412-317-6671
Replay ID: 13715280

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures and distributes fiber optic management, protection and delivery products for communications networks. Our “fiber to anywhere” platform serves the unique requirements of leading incumbent local exchange carriers (traditional carriers), competitive local exchange carriers (alternative carriers), and MSO/cable TV companies, while also catering to the broadband needs of the utility/municipality, enterprise, data center and military markets. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

Investor Contact:        

Matt Glover and Tom Colton

Gateway Investor Relations
1-949-574-3860
[email protected]

NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) — TG Therapeutics, Inc. (NASDAQ: TGTX), today announced the schedule of events for the upcoming American Academy of Neurology (AAN) Annual Meeting, being held virtually April 17 – 22, 2021.

ULTIMATE I & II Phase 3 Investor & Analyst Webcast

• Date & Time: Friday, April 16, 2021 at 8:30 AM ET
• Key Opinion Leader Participants:
  • Lawrence Steinman, MD, of Stanford University and the Global Study Chair for the ULTIMATE I & II Phase 3 trials
  • Edward J. Fox, MD, PhD, of Central Texas Neurology Consultants and Chair for the ublituximab Phase 2 trial
  • Enrique Alvarez, MD, PhD, of University of Colorado Medicine
• Live Webcast:
  http://ir.tgtherapeutics.com/events (also archived for future review)

AAN Annual Meeting Poster Presentation Details

Title:
Efficacy and safety of ublituximab versus teriflunomide in relapsing multiple sclerosis: Results of the Phase 3 ULTIMATE I and II trials

• Date & Time: Available for viewing beginning Saturday, April 17, 2021 at 8:00 AM ET
• Abstract Number: 4494
• Lead Author: Lawrence Steinman, MD, Zimmermann Professor of Neurology & Neurological Sciences, and Pediatrics at Stanford University

ABOUT THE ULTIMATE I & II TRIALS

ULTIMATE I and ULTIMATE II are two independent Phase 3, randomized, double-blinded, active-controlled, global, multi-center studies evaluating the efficacy and safety/tolerability of ublituximab (450mg dose administered by one-hour intravenous infusion every 6 months, following a Day 1 infusion of 150mg over four hours and a Day 15 infusion of 450mg over one hour) versus teriflunomide (14mg oral tablets taken once daily) in subjects with relapsing forms of Multiple Sclerosis (RMS). The ULTIMATE I & II trials enrolled a total of 1,094 patients with RMS across 10 countries. These trials were led by Lawrence Steinman, MD, Zimmermann Professor of Neurology & Neurological Sciences, and Pediatrics at Stanford University and were conducted under a Special Protocol Assessment (SPA) agreement with the U.S. Food and Drug Administration (FDA). In December 2020, we announced that both studies met their primary endpoint with ublituximab treatment demonstrating a statistically significant reduction in annualized relapse rate (ARR) over a 96-week period (p<0.005 in each trial). Ublituximab treatment resulted in an ARR of <0.10 in each of ULTIMATE I & II, with a relative reduction in ARR of approximately 60% and 50%, respectively, over teriflunomide. Data from these studies are intended to support a Biologics License Application (BLA) submission for ublituximab in RMS targeted in mid-year 2021. Additional information on these clinical trials can be found at www.clinicaltrials.gov (NCT03277261; NCT03277248).

ABOUT TG THERAPEUTICS, INC.
TG Therapeutics is a fully-integrated, commercial stage biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. In addition to an active research pipeline including five investigational medicines across these therapeutic areas, TG has received accelerated approval from the U.S. FDA for UKONIQ™ (umbralisib), for the treatment of adult patients with relapsed/refractory marginal zone lymphoma who have received at least one prior anti-CD20-based regimen and relapsed/refractory follicular lymphoma who have received at least three prior lines of systemic therapies. Currently, the Company has two programs in Phase 3 development for the treatment of patients with relapsing forms of multiple sclerosis (RMS) and patients with chronic lymphocytic leukemia (CLL) and several investigational medicines in Phase 1 clinical development. For more information, visit www.tgtherapeutics.com, and follow us on Twitter @TGTherapeutics and Linkedin.

UKONIQ™ is a trademark of TG Therapeutics, Inc.

Cautionary Statement

This press release contains forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Such forward looking statements include but are not limited to statements regarding the results of the Ultimate I & II studies and the Company’s plans and timelines for submission of a Biologics License Application (BLA) for ublituximab for the treatment of relapsing forms of Multiple Sclerosis (RMS).

Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release. In addition to the risk factors identified from time to time in our reports filed with the U.S. Securities and Exchange Commission (SEC), factors that could cause our actual results to differ materially include the following: the risk that the interim, top-line and preliminary data from the ULTIMATE I & II trials that we announce or publish may change, or the perceived product profile may be impacted, as more patient data or additional endpoints (including efficacy and safety) are analyzed; the risk that safety issues or trends will be observed in the ULTIMATE I & II trials when the full safety dataset is available and analyzed; the risk that secondary endpoints from the ULTIMATE I & II will not be positive; our ability to complete the BLA submission for ublituximab in RMS within the timeline projected; the risk that the clinical results from the ULTIMATE I & II trials will not support regulatory approval of ublituximab to treat RMS or that we will not receive regulatory approval within the timeline projected; the risk that if approved, ublituximab will not be commercially successful; our ability to expand our commercial infrastructure, and successfully launch, market and sell ublituximab in RMS if approved; the Company’s reliance on third parties for manufacturing, distribution and supply, and a range of other support functions for our commercial and clinical products, including ublituximab; the uncertainties inherent in research and development; and the risk that the ongoing COVID-19 pandemic and associated government control measures have an adverse impact on our research and development plans or commercialization efforts. Further discussion about these and other risks and uncertainties can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in our other filings with the SEC. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at www.tgtherapeutics.com. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.

CONTACT:

Investor Relations

Email: [email protected]
Telephone: 1.877.575.TGTX (8489), Option 4

Media Relations:

Email: [email protected]
Telephone: 1.877.575.TGTX (8489), Option 6

LONDON and SAN FRANCISCO, April 15, 2021 (GLOBE NEWSWIRE) — GlaxoSmithKline plc (LSE/NYSE: GSK) and Vir Biotechnology, Inc. (Nasdaq: VIR) today announced that the European Medicines Agency (EMA) has started a review of VIR-7831 (GSK4182136), an investigational dual-action SARS-CoV-2 monoclonal antibody, for the treatment of adults and adolescents (aged 12 years and over and weighing at least 40 kg) with COVID-19 who do not require oxygen supplementation and who are at high risk of progressing to severe COVID-19.

The review is being carried out by the EMA’s Committee for Human Medicinal Products (CHMP) under Article 5(3) of Regulation 726/2004 and will provide EU-wide recommendations for national authorities who may take evidence-based decisions on the early use of the medicine, ahead of any formal Marketing Authorization Application.

The review will include data from an interim analysis of efficacy and safety data from the Phase 3 COMET-ICE (COVID-19 Monoclonal antibody Efficacy Trial – Intent to Care Early) trial, which evaluated VIR-7831 as monotherapy for the early treatment of COVID-19 in adults at high risk of hospitalization. Results of the interim analysis, based on data from 583 randomized patients, demonstrated an 85% (p=0.002) reduction in hospitalization or death in those receiving VIR-7831 compared to placebo, the primary endpoint of the trial. As a result, the Independent Data Monitoring Committee recommended that the trial be stopped for enrollment due to evidence of profound efficacy. The CHMP review will also consider data on the medicine’s quality and safety.

This week, the Australian Therapeutic Goods Administration (TGA), part of the Department of Health, granted VIR-7831 a provisional determination. VIR-7831 is the first anti-SARS-CoV-2 monoclonal antibody to have been granted this designation, which provides a formal and transparent mechanism for accelerating the registration of promising new medicines with preliminary clinical data.

VIR-7831 is an investigational compound and has not been granted a marketing authorization anywhere in the world. An Emergency Use Authorization (EUA) application for VIR-7831 has been submitted to the U.S. Food and Drug Administration (FDA).

Preclinical data suggest VIR-7831 targets a highly conserved epitope of the SARS-CoV-2 spike protein, which may make it more difficult for resistance to develop. New in vitro data from pseudotyped virus assays published online in bioRxiv support this hypothesis as they demonstrate that VIR-7831 maintains activity against current circulating variants of concern including the UK, South African and Brazilian variants. Based on additional preclinical data published in bioRxiv, VIR-7831 also appears to maintain activity against the California variant.

GSK is planning to submit a full Marketing Authorization Application (MAA) to the EMA which will include the data from the COMET-ICE trial.

About COMET-ICE
The multi-center, double-blind, placebo-controlled COMET-ICE trial investigated VIR-7831 in adults with mild or moderate COVID-19 who are at high risk of progression to severe disease. The Phase 2 lead-in portion of the trial, which served as the first-in-human assessment, evaluated the safety and tolerability of a single 500 mg intravenous (IV) infusion of VIR-7831 or placebo over a 14-day period in 21 non-hospitalized adults enrolled across the United States. In October 2020, based on a positive evaluation of safety and tolerability data of VIR-7831 from the lead-in part of the trial by an Independent Data Monitoring Committee, the trial began enrolling patients in North America and additional sites in South America and Europe in the global Phase 3 portion of the trial.

In March 2021, an Independent Data Monitoring Committee recommended that the COMET-ICE trial be stopped for enrollment due to evidence of profound efficacy but is continuing to follow study participants for 24 weeks. Additional results, including epidemiology and virology data, will be forthcoming once the trial is completed.

The Phase 3 portion of the trial assessed the safety and efficacy of a single IV infusion of VIR-7831 (500 mg) or placebo in non-hospitalized participants globally. The interim analysis included 291 patients in the treatment arm and 292 patients in the placebo arm. Among those studied, 63% were Hispanic or Latinx and 7% were Black or African American. The primary efficacy endpoint is the proportion of patients who have progression of COVID-19 as defined by the need for hospitalization for at least 24 hours or death within 29 days of randomization.

About the VIR-7831 Clinical Development Program

In addition to the COMET-ICE trial, the full COMET clinical development program for VIR-7831 includes:

• COMET-PEAK: An ongoing Phase 2 trial with two parts: to compare the safety and viral kinetics of 500 mg intramuscularly (IM) administered VIR-7831 to 500 mg intravenously administered VIR-7831 among low-risk adults with mild to moderate COVID-19 and to evaluate the similarity in pharmacokinetics between VIR-7831 manufactured by different processes.
• COMET-TAIL: A Phase 3 trial expected to begin in the second quarter of 2021 in high-risk adults to assess whether IM-administered VIR-7831 can reduce hospitalization or death due to COVID-19.
• COMET-STAR: A Phase 3 trial expected to begin in the second quarter of 2021 in uninfected adults at high risk to determine whether IM-administered VIR-7831 can prevent symptomatic infection.

VIR-7831 is also being evaluated in the outpatient setting in BLAZE-4, a Phase 2 trial sponsored by Eli Lilly and Company, designed to assess the safety and efficacy of Eli Lilly’s bamlanivimab (LY-CoV555) alone and bamlanivimab with other neutralizing antibodies, including VIR-7831, versus placebo in low-risk adults with mild to moderate COVID-19. Topline data announced in March 2021 showed that in combination, the two monoclonal antibodies demonstrated a 70% relative reduction of patients with persistently high viral load at day 7 compared to placebo.

Additionally, VIR-7831, along with VIR-7832 will be evaluated in the Phase 1b/2a National Health Service-supported AGILE trial in adults with mild to moderate COVID-19. VIR-7832 is the second monoclonal antibody from the Vir-GSK collaboration to be investigated as a potential COVID-19 treatment.

VIR-7831 and VIR-7832 are investigational compounds and have not been granted marketing authorizations anywhere in the world.

About VIR-7831 / GSK4182136

VIR-7831 is an investigational dual-action SARS-CoV-2 monoclonal antibody. Preclinical data suggest it has the potential to both block viral entry into healthy cells and clear infected cells. The antibody binds to an epitope on SARS-CoV-2 that is shared with SARS-CoV-1 (the virus that causes SARS), indicating that the epitope is highly conserved, which may make it more difficult for resistance to develop. VIR-7831, which incorporates Xencor’s Xtend™ technology, also has been designed to achieve high concentration in the lungs to ensure optimal penetration into airway tissues affected by SARS-CoV-2 and to have an extended half-life.

About VIR-7832 / GSK4182137

VIR-7832 is an investigational dual-action SARS-CoV-2 monoclonal antibody. Preclinical data suggest it has the potential to both block viral entry into healthy cells and an enhanced ability to clear infected cells. The antibody binds to an epitope on SARS-CoV-2 that is shared with SARS-CoV-1 (the virus that causes SARS), indicating that the epitope is highly conserved, which may make it more difficult for resistance to develop. VIR-7832, which incorporates Xencor’s Xtend and other Fc technologies, has been designed to achieve high concentration in the lungs to ensure optimal penetration into airway tissues affected by SARS-CoV-2 and to have an extended half-life. Importantly, VIR-7832 also has been engineered to potentially enhance virus-specific T cell function, which could help treat and/or prevent COVID-19 infection.

About the Vir and GSK Collaboration

In April 2020, Vir and GSK entered into a collaboration to research and develop solutions for coronaviruses, including SARS-CoV-2, the virus that causes COVID-19. The collaboration uses Vir’s proprietary monoclonal antibody platform technology to accelerate existing and identify new anti-viral antibodies that could be used as therapeutic or preventive options to help address the current COVID-19 pandemic and future outbreaks. The companies will leverage GSK’s expertise in functional genomics and combine their capabilities in CRISPR screening and artificial intelligence to identify anti-coronavirus compounds that target cellular host genes. They will also apply their combined expertise to research SARS-CoV-2 and other coronavirus vaccines.

GSK Commitment to Tackling COVID-19

GSK’s response to COVID-19 has been one of the broadest in the industry, with three potential treatments in addition to our vaccine candidates in development.

GSK is collaborating with several organizations on COVID-19 vaccines by providing access to our adjuvant technology. In addition to our work with Medicago, a collaboration with Sanofi on an adjuvanted, protein-based vaccine candidate is now in Phase 2. An earlier stage collaboration with SK Bioscience is also ongoing. SK Bioscience receives funding from CEPI and the Bill and Melinda Gates Foundation to develop differentiated, affordable COVID-19 vaccines for supply globally through the COVAX facility. The use of an adjuvant can be of particular importance in a pandemic since it may reduce the amount of vaccine protein required per dose, allowing more vaccine doses to be produced and contributing to protecting more people.

GSK is also working with mRNA specialist, CureVac, to jointly develop next generation, multi-valent mRNA vaccines for COVID-19 with the potential to address multiple emerging variants in one vaccine. GSK will also support manufacturing of up to 100m doses of CureVac’s first generation COVID-19 vaccine.

GSK is also exploring potential therapeutic or treatment options for COVID-19 patients. We are collaborating with Vir Biotechnology to develop existing and identify new anti-viral antibodies that could be used as therapeutic or preventive options for COVID-19. We recently reported that an Independent Data Monitoring Committee recommended that the Phase 3 COMET-ICE trial evaluating VIR-7831 as monotherapy for the early treatment of COVID-19 in adults at high risk of hospitalization be stopped for enrolment due to evidence of profound efficacy, based on an interim analysis of data from the trial. We are seeking Emergency Use Authorization in the US and authorizations in other countries. We are also assessing whether an investigational monoclonal antibody, otilimab, can help severely ill COVID-19 patients aged over 70 who experience an overreaction of their immune system.

About GSK

GSK is a science-led global healthcare company with a special purpose: to help people do more, feel better, live longer. For further information please visit www.gsk.com/about-us.

About Vir Biotechnology

Vir Biotechnology is a clinical-stage immunology company focused on combining immunologic insights with cutting-edge technologies to treat and prevent serious infectious diseases. Vir has assembled four technology platforms that are designed to stimulate and enhance the immune system by exploiting critical observations of natural immune processes. Its current development pipeline consists of product candidates targeting COVID-19, hepatitis B virus, influenza A and human immunodeficiency virus. For more information, please visit www.vir.bio.

Vir Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “plan,” “potential,” “aim,” “promising” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Vir’s expectations and assumptions as of the date of this press release. Forward-looking statements contained in this press release include, but are not limited to, statements regarding the EMA’s review of VIR-7831, the timing of availability of preclinical and clinical data, clinical development program updates, and data disclosures related to VIR-7831, the ability of VIR-7831 to treat and/or prevent COVID-19 (as monotherapy and in combination with bamlanivimab), the potential of VIR-7831 in the hospitalized population, the ability of VIR-7831 to neutralize the SARS-CoV-2 live virus, the ability of VIR-7831 to maintain full activity against variant strains of the virus, Vir’s collaboration with GSK, and statements related to regulatory authorizations and approvals, including plans to continue discussions with the FDA and other global regulators. Many factors may cause differences between current expectations and actual results, including challenges in obtaining regulatory approval, unexpected safety or efficacy data observed during preclinical or clinical studies, challenges in the treatment of hospitalized patients, difficulties in collaborating with other companies or government agencies, challenges in accessing manufacturing capacity, successful development and/or commercialization of alternative product candidates by our competitors, changes in expected or existing competition, delays in or disruptions to our business or clinical trials due to the COVID-19 pandemic, geopolitical changes or other external factors, and unexpected litigation or other disputes. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Vir’s filings with the U.S. Securities and Exchange Commission, including the section titled “Risk Factors” contained therein. Except as required by law, Vir assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

GSK Cautionary statement regarding forward-looking statements

GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described in the Company’s Annual Report on Form 20-F for 2020 and any impacts of the COVID-19 pandemic.

Registered in England & Wales:

No. 3888792

Registered Office:

980 Great West Road
Brentford, Middlesex
TW8 9GS

Vir Biotechnology Contacts:

Cara Miller
VP, Corporate Communications
[email protected] 
+1-415-941-6746

GSK Contacts:
Media:	Simon Steel	+44 (0) 20 8047 5502	(London)
	Tim Foley	+44 (0) 20 8047 5502	(London)
	Kristen Neese	+1 804 217 8147	(Philadelphia)
	Kathleen Quinn	+1 202 603 5003	(Washington DC)
Analysts/Investors:	James Dodwell	+44 (0) 20 8047 2406	(London)
	Sonya Ghobrial	+44 (0) 7392 784784	(Consumer)
	Jeff McLaughlin	+1 215 751 7002	(Philadelphia)
	Frannie DeFranco	+1 215 751 4855	(Philadelphia)

Miami Beach, FL, April 15, 2021 (GLOBE NEWSWIRE) — Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner, operator, and provider of electric vehicle (EV) charging equipment and services, announced that all 19 first-generation Blink EV charging stations in the city of Plano, Texas have been upgraded to the Company’s IQ 200 fast Level 2 charging stations. The upgrades and five-year agreement with automatic renewals reaffirm the city’s and Blink’s commitment to providing accessible, reliable, and fast EV charging infrastructure throughout the community. Blink will own and operate the EV chargers.

Plano was an early adopter of EV charging technologies, deploying the 19 original, first-generation Blink EV chargers in 2012. The city is experiencing a significant increase in EV use among its population, reflected in a 39% increase in the number of registered battery-electric and plug-in hybrid vehicles since 2016. Upgrading the Blink-owned first-generation equipment was a priority as the city prepares for what is expected to be continued widespread EV adoption by residents and visitors to Plano. 

“We are thrilled that Plano continues to be a pioneer in the EV charging space in Texas. The state is third in the country for the adoption of electric vehicles, and through this upgrade agreement, Plano is leading the way in infrastructure development. With the new Blink IQ 200s, Plano residents can have confidence that their city’s charging infrastructure is well positioned to meet their charging needs today and to serve the EVs of tomorrow,” commented Brendan Jones, President of Blink Charging. 

Yarcus Lewis, Plano Sustainability Projects Supervisor, commented, “We’re excited to have this opportunity to upgrade our existing charging stations to Blink’s IQ 200 units. The upgrade process was seamless, and their technicians handled everything, which was good news to our facilities department.”

“Increasingly, cities like Plano and San Antonio are turning to Blink to electrify their transportation infrastructure. We believe these partnership opportunities are a testament that the quality of Blink products and services and illustrate the value of our attractive and flexible business models, ” stated Jones.

Blink’s IQ 200 units are among the fastest level 2 AC charging stations available on the market, with a maximum output of 80 amps. The Blink IQ 200 chargers have been well received by leading EV industry experts.

###

ABOUT BLINK CHARGING

Blink Charging Co. (Nasdaq: BLNK, BLNKW) is a leader in electric vehicle (EV) charging equipment and has deployed over 23,000 charging stations, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of the Company’s charging locations worldwide. Blink Charging’s principal line of products and services include its Blink EV charging network (“Blink Network”), EV charging equipment, and EV charging services. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. With global EV purchases forecasted to rise to 10 million by 2025 from approximately 2 million in 2019, the Company has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs. For more information, please visit https://www.blinkcharging.com/.

Forward-Looking Statements

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, along with terms such as “anticipate,” “expect,” “intend,” “may,” “will,” “should,” and other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief, or current expectations of Blink Charging and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in Blink Charging’s periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink Charging undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

Blink Media Contact 


[email protected]

Blink Investor Relations Contact 


[email protected]


855-313-8187