Market Newsdesk

May 11, 2021 7:34 am

National Headache Foundation Survey Shows Majority of People with Migraine are Unable to Control Disease and Dissatisfied with Current Preventive Treatment Options

– 84% of people currently taking a preventive treatment wish there was a better treatment option

– Migraine disease has a broad and negative impact, affecting people’s socio-emotional health and their family, professional and social lives

– More than two-thirds (67%) of people with migraine who have tried or are currently taking a preventive treatment feel like they are chasing an unreachable goal to get their migraine disease under control

PR Newswire

CHICAGO, May 11, 2021 /PRNewswire/ — The National Headache Foundation today announced findings from a new survey, Preventing Migraine Attacks: A Current Perspective, which characterizes the experiences of people living with migraine and highlights the physical and emotional barriers to preventive treatment.

The survey found half (50%) of people with migraine are extremely dissatisfied with their current ability to control their disease and report a range of emotions as a result, including frustration (39%), exhaustion (29%), stress (19%) and anxiety (15%). Despite the variety of options currently available to treat and prevent migraines, most people with migraine still aren’t able to completely control their disease and the negative effects and feelings that come with it. In fact, most responders (84%) currently taking a preventive treatment wish there was a better treatment option.

“Migraine is the second most debilitating disease worldwide and it impacts all facets of a person’s life, causing significant emotional and physical distress. So many people with migraine live in fear every day because they don’t know when an attack will hit,” says Jill Dehlin, RN, a person with migraine and Chair of the National Headache Foundation’s Patient Leadership Council. “In this survey, many people reported feeling they are chasing an unreachable goal to get their migraine disease under control, highlighting the need for new preventive treatment options, as well as resources to educate and empower them to take control of their disease.”

While the cycle of trying and failing new preventive treatments is exhausting to most people (76%), the majority are hopeful and optimistic when starting a new therapy (82%), with more than half (53%) saying the single most important attribute for a future preventive migraine treatment is to provide more migraine-free days per month.

The survey also explored how migraine disproportionately affects women and people of color to better understand their unique experiences and address challenges. For nearly half of women with migraine disease (48%), hormonal changes related to menstruation, menopause or childbirth triggered worsening of their migraine disease.

Black and Hispanic people with migraine reported being more likely to feel worry, fear, and anxiety at the thought of taking a preventive treatment. But when asked about treating their disease overall, 77% of Black and 73% of Hispanic responders say they wish they had sought care sooner.

Black people with migraine disease are also more likely to find the impact of the disease on their daily lives unacceptable. The survey revealed they grapple with negative feelings about managing their disease more frequently than other responders:

68% feel like they are chasing a goal that they cannot reach to get their disease under control
72% report feeling that life is passing them by
Two-thirds (66%) often feel a keen sense of frustration in having to adjust treatments
Two-thirds (66%) feel they are a “guinea pig” as their healthcare provider tries to find the right preventive treatment for them

Hispanic responders had similar experiences, but were less aware of preventive treatment options than others.

73% feel they are juggling migraine treatments trying to find the right one
73% feel like they are chasing a goal that they cannot reach to get their disease under control
71% report feeling that life is passing them by

The survey indicates that living with migraine disease has a broad and detrimental impact on people’s lives, affecting their energy level (64%), mental clarity (57%), productivity (54%), personal relationships (31-50%) and professional success (49%). In fact, sixty-five percent (65%) of responders say their migraine disease makes them feel like life is passing them by and over half (52%) say they cannot make plans with friends, family or colleagues because their disease is so unpredictable. Additionally, more than two-thirds (67%) acknowledge their risk of anxiety and depression increases as the number of their migraine attacks increase.

“Biohaven is committed to the almost 40 million people who suffer from migraine. We are proud to support this research with the National Headache Foundation to help identify and address the unmet needs of the migraine community,” said Vlad Coric, M.D., Chief Executive Officer of Biohaven. “This research showcases the need for new preventive treatment options and helps determine how we can invest our resources to best meet the needs of people with migraine.”

This survey was funded by Biohaven Pharmaceutical Holding Company Ltd.

About Migraine Preventive Survey
The Preventing Migraine Attacks: A Current Perspective was a 20-minute, online, quantitative opinion survey conducted by the National Headache Foundation and funded by Biohaven Pharmaceutical Holding Company Ltd. The survey was fielded between February and March 2021 and included responses from almost 1,200 women and men aged 18-70+ in the U.S. who were diagnosed by a healthcare provider with migraine disease 2 or more years ago and satisfied one of the following criteria:

Been prescribed a preventive migraine treatment
Currently taking a preventive migraine treatment
Previously taken a preventive migraine treatment

About Migraine
Migraine is a debilitating and recurrent disease characterized by attacks lasting four to 72 hours with multiple symptoms, including pulsating headaches of moderate to severe pain intensity that can be associated with nausea or vomiting, and/or sensitivity to sound (phonophobia) and sensitivity to light (photophobia). Nearly 40 million people in the U.S. suffer from migraine and the World Health Organization classifies migraine as one of the 10 most disabling medical illnesses.

About the National Headache Foundation
Founded in 1970, the National Headache Foundation is the oldest and largest foundation for individuals living with migraine disease and headache disorders. The NHF is the premier educational and informational resource for those in the headache community, health care professionals, and the public. The four pillars of the NHF are education, awareness, advocacy, and research. NHF works to inform policymakers, at the national and state levels, and the general public of the need to help patients get access to safe and appropriate care. Through its WorkMigraine program, the NHF reaches out to employers throughout the US to provide education for their staff and support in their efforts to minimize the cost and impact of chronic headaches. The Foundations works to educate and encourage the 40 million Americans with migraine and chronic headaches to become self-advocates with their healthcare practitioners, insurers, employers, and families.

About Biohaven
Biohaven (NYSE: BHVN) is a commercial-stage biopharmaceutical company with a portfolio of innovative, best-in-class therapies to improve the lives of patients with debilitating neurological and neuropsychiatric diseases, including rare disorders. Biohaven’s neuroinnovation portfolio includes an FDA-approved product for the acute treatment of migraine and a broad pipeline of late-stage product candidates across three distinct mechanistic platforms: CGRP receptor antagonism for the acute and preventive treatment of migraine; glutamate modulation for obsessive-compulsive disorder, Alzheimer’s disease, and spinocerebellar ataxia; and MPO inhibition for multiple system atrophy and amyotrophic lateral sclerosis. More information about Biohaven is available at www.biohavenpharma.com.

Media Contact

Mike Beyer

Sam Brown Inc.
(312) 961-2502
[email protected]

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SOURCE Biohaven Pharmaceutical Holding Company Ltd.

May 11, 2021 7:34 am

Axon Launches New Virtual Reality Simulator Training for Today’s Public Safety Challenges

New simulator training offers complex situations and real-time feedback to provide officers with an immersive training experience

PR Newswire

SCOTTSDALE, Ariz., May 11, 2021 /PRNewswire/ — Axon (Nasdaq: AXON), the global leader in connected public safety technologies, today announced the launch of its first wireless Virtual Reality (VR) Simulator Training. Axon’s VR Simulator will provide immersive virtual reality content that can help officers develop critical thinking, de-escalation and tactical skills.

Today’s police training methods can be time-consuming, unrealistic and expensive. In addition, the majority of trainings are focused on “hands-on” use of force, which is necessary, but accounts for less than one percent of police and citizen interactions nationwide. Axon’s VR Simulator provides officers with more access to what they need most: training on how to best interact with the community, de-escalate effectively and support individuals in crisis.

“Officers on patrol frequently encounter individuals in crisis. Through the use of this breakthrough simulator, we are able to fully immerse officers into common situations, helping prepare them for a number of different variables with an emphasis on de-escalation,” says Rick Smith, Axon CEO and founder. “Our mission has always been to protect life, and by giving law enforcement the ability to work through the situations they see in the field daily, we can help create outcomes that are better for everyone.”

The VR Simulator provides industry-leading content and allows trainees to work through complex scenarios that have been refined and validated by a diverse network of first responders and subject matter experts. One of the first training modules included at launch will cover domestic violence. It allows officers to actually talk and walk through the scenario as they would in the field, with feedback from trainers and supervisors, allowing them to practice more and enhance their skills, better preparing them for the situations they encounter each day.

The wireless VR headsets, provided by industry leading partner, HTC VIVE and their latest HTC VIVE Focus 3, delivers an all-in-one unit that’s simple to deploy and use, with no extraneous hardware, time or space constraints. The VR training provides connectivity for both in-person and remote experiences, creating an on-demand platform that can be accessed anytime instead of at a designated training facility.

Axon’s VR Simulator training will also integrate the TASER 7 device and training handguns, so officers can use real hardware in the virtual world, creating muscle memory and familiar responses in the most critical high-risk situations while leveraging a fully-immersive environment.

The Phoenix Police Department will be the first agency to adopt Axon’s new VR Simulator into its existing training curriculum.

“We are always looking for opportunities to innovate and improve our officers’ abilities to handle various calls for service,” says Phoenix Police Chief Jeri Williams. “Axon’s new training platform allows our officers to run through scenarios in the safety of a controlled learning environment. This technology lets us train more efficiently, benefiting the responding officer and our community.”

The VR Training seamlessly integrates into an agency’s current training program with connection to the Axon Academy learning management system. The learning objectives and content of Axon Academy and Axon’s Community Engagement VR Training feed into the scenarios of the VR Simulator. The Community Engagement VR Training launched in 2018 and is now used by more than one thousand police agencies in the U.S. and Canada. Currently available modules include Schizophrenia, Autism, Suicidal Ideation, Hard of Hearing, Alzheimer’s/ Dementia, Veteran Post-Traumatic Stress Injury, Peer Intervention and Domestic Violence. New content is released each month.

Axon is currently accepting orders for the VR Simulator Training, and will ship to U.S. customers in Q3 2021.

About Axon

Axon is a network of devices, apps and people that helps public safety personnel become smarter and safer. With a mission of protecting life, our technologies give customers the confidence, focus and time they need to keep their communities safe. Our products impact every aspect of a public safety officer’s day-to-day experience with the goal of helping everyone get home safe.

We work hard for those who put themselves in harm’s way for all of us. To date, more than 245,000 lives and countless dollars have been saved with the Axon network of devices, apps and people. Learn more at www.axon.com or by calling (800) 978-2737. Axon is a global company with headquarters in Scottsdale, Ariz. and global software engineering hub in Seattle, Wash., as well as additional offices in Australia, Canada, Finland, Vietnam, the UK and the Netherlands.

Facebook is a trademark of Facebook, Inc., HTC VIVE is a trademark of the HTC Corporation and Twitter is a trademark of Twitter, Inc. Axon, Axon Academy, Axon Evidence, TASER 7 and the Delta Logo are trademarks of Axon Enterprise, Inc., some of which are registered in the US and other countries. For more information, visit www.axon.com/legal. All rights reserved.

Follow Axon here:

Axon on Twitter: https://twitter.com/axon_us
Axon on Facebook: https://www.facebook.com/Axon.ProtectLife/

Note to Investors

Please visit http://investor.axon.com, https://www.axon.com/press, www.twitter.com/axon_us and https://www.facebook.com/Axon.ProtectLife/ where Axon discloses information about the company, its financial information and its business.

For our recent Safe Harbor Statement, please view page 2 of our Investor Relations Presentation HERE.

CONTACT:

Corinne Clark

Public Relations Manager
[email protected]

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SOURCE Axon

May 11, 2021 7:34 am

Berkshire Hills Announces Strategy Update Presentation

Berkshire’s Exciting Strategic Transformation (BEST) Targets Improvements in Profitability, Customer Experience and Community Impact

PR Newswire

BOSTON, May 11, 2021 /PRNewswire/ — Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, will announce Berkshire’s Exciting Strategic Transformation (BEST) on Tuesday, May 18, 2021 at 10:00 a.m. eastern time. During a virtual presentation, management will discuss BEST in further detail and provide guidance on its expected financial impacts.

In pursuit of its vision of being the leading socially responsible omni-channel community bank in the markets it serves, management undertook a comprehensive strategic planning process to address the macro and micro trends impacting Berkshire’s performance. BEST is its plan for action to close the gap against peers in relevant metrics, transform the Bank for the future, and stay true to its purpose and values by optimizing, digitizing and enhancing its community bank model.

“I’m confident that with BEST, we will move forward with collective passion, resolve, and confidence to prove that Berkshire’s purpose-driven community-dedicated banking will enhance value for all our stakeholders. BEST will make us a better and stronger company, faster. Our management team looks forward to sharing more details with you on May 18^th”, stated Nitin Mhatre, CEO of Berkshire Hills Bancorp and Berkshire Bank.

Participants are encouraged to pre-register for the virtual event using the following link: https://ir.berkshirebank.com/news-events. Participants may pre-register at any time prior to the virtual event and will immediately receive simple instructions via email.

A telephone replay of the presentation will be available through Tuesday, June 8, 2021 by dialing (800) 585-8367 and entering conference ID 5785379. The full virtual presentation will be available on Berkshire’s website ir.berkshirebank.com for an extended period of time.

ABOUT BERKSHIRE HILLS BANCORP

Berkshire Hills Bancorp is the parent of Berkshire Bank, which is transforming what it means to bank its neighbors socially, humanly and digitally to empower the financial potential of people, families and businesses in its communities as it pursues its vision of being the leading socially responsible omni-channel community bank in the markets it serves. Headquartered in Boston, Berkshire operates 118 banking offices primarily in New England and New York.

FORWARD-LOOKING STATEMENTS

This document contains “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. You can identify these statements from the use of the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target,” and similar expressions. There are many factors that could cause actual results to differ significantly from expectations described in the forward-looking statements. For a discussion of such factors, please see Berkshire’s most recent reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission and available on the SEC’s website at www.sec.gov. Accordingly, you should not place undue reliance on forward-looking statements, which reflect our expectations only as of the date of this document. Berkshire does not undertake any obligation to update forward-looking statements.

Investor Relations Contacts:

Kevin Conn, SVP, Investor Relations & Corporate Development
Email: [email protected]
Tel: (617) 641-9206

David Gonci, Capital Markets Director
Email: [email protected]
Tel: (413) 281-1973

Media Contacts:

John Lovallo

Email: [email protected]
Tel: (917) 612-8419

Sarah Sem

Email: [email protected]
Tel: (802) 310-7663

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SOURCE Berkshire Hills Bancorp, Inc.

May 11, 2021 7:34 am

The Real Brokerage Inc. Announces First Quarter 2021 Financial Results

PR Newswire

Achieves 217% year over year revenue growth in Q1 to US $9.3 million

82% Agent Growth to 1,895 Agents at the end of Q1

In March alone, added 255 agents that collectively generated US $20 million in trailing twelve-month revenue recorded prior to joining Real

TORONTO and NEW YORK, May 11, 2021 /PRNewswire/ — The Real Brokerage Inc. (“Real”) (TSXV: REAX) (OTCQX: REAXF), a national, technology powered real estate brokerage in the United States, announced its financial results for the three months ended March 31, 2021, and will present the results on a conference call and live webcast on May 11, 2021 at 11:00 a.m. EDT.

Q1 Financial Highlights (unaudited) (US dollars)

Revenue increased 217% in the first quarter of 2021 to $9.3 million, compared to Q1 last year
Gross profit grew 222% to $1.2 million in the first quarter of 2021
Net loss was $3.8 million in the first quarter of 2021, compared to a net loss of $243 thousand in the first quarter of 2020.

“We’ve started 2021 with strong results – as demonstrated by Q1 revenue increasing 217% to $9.3 million compared to Q1 last year, bolstered by rapid agent growth and expansion to new state markets, since going public in June 2020. In terms of outlook, in March alone, we added about 250 agents with $20 million in trailing 12-month revenue recorded prior to joining Real. We continue to see strong results as we progress through 2021.”

Mr. Poleg added, “With our growth to date and our continued efforts to develop our platform, we are well positioned in the marketplace with our current business model. We continue to evaluate different ancillary services to augment the platform in the future to help us continue on our current trajectory. As Real prospers, our agents benefit from our proprietary platform and our equity incentive program, and consumers enjoy a simplified buying experience. That’s the vision, having a positive impact on as many human beings as possible within the real estate space.”

Q1 and Recent Operating Highlights

Surpassed 2,000 Real Estate Agents in April 2021, a 90% increase since April 2020
In March 2021, added 255 agents that collectively generated $20 million in trailing twelve-month revenue recorded prior to joining Real
Announced application to list on the Nasdaq Capital Market
Real’s network grew 82% to 1,895 agents at the end of Q1 2021, compared to the end of Q1 last year
The value of closed transactions grew 234% to $374 million in Q1 2021, compared to Q1 last year
Total cash on hand equaled $20.5 million as of March 31, 2021, compared to $54 thousand as of March 31, 2020.
As of March 31, 2021, Real offered real estate brokerage services in 29 U.S. states and the District of Columbia and had 34 full-time employees.
As of March 31, 2021, Real’s efficiency ratio (Full Time Employees : Agents ) was 1:56, with a long term target of 1:75. Real views this as a competitive advantage in terms of how quickly and efficiently it can scale and provides benefit in profit margins. The industry standard is a ratio of approximately to 1:25.

Conference Call Information

To participate in this event, dial approximately 5 to 10 minutes before the beginning of the call.

Date: May 11, 2021
Time: 11:00 a.m. eastern time

Toll Free: 877-407-8035
International: 201-689-8035
Live Webcast: https://www.webcaster4.com/Webcast/Page/2699/41103

Conference Call Replay Information

The replay will be available beginning approximately 1 hour after the completion of the live event.

Toll Free: 877-481-4010
International: 919-882-2331
Passcode: 41103
Web replay: https://www.webcaster4.com/Webcast/Page/2699/41103

About Real

Real ( www.joinreal.com ) is a technology-powered real estate brokerage operating in 29 U.S. states and the District of Columbia. Real is building the future, together with agents and their clients. Real creates financial opportunities for agents through better commission splits, best-in-class technology, revenue sharing and equity incentives.


The Real Brokerage Inc
Consolidated Statement of Financial Position
(unaudited)

	March 31, 2021	December 31, 2020
Assets
Cash	20,527	21,226
Restricted cash	47	47
Trade receivables	727	117
Other receivables	24	221
Related parties	–	–
Prepaid expenses and deposits	163	89
Current assets	21,488	21,700
Intangible assets	1,146	–
Property and equipment	28	14
Right-of-use assets	172	193
Non-current assets	1,346	207
Total assets	22,834	21,907
Liabilities
Accounts payable and accrued liabilities	2,622	815
Other payables	70	64
Lease liabilities	85	85
Current liabilities	2,777	964
Lease liabilities	110	130
Accrued Stock-based Compensation	122	15
Warrants outstanding	224	–
Non-current liabilities	456	145
Total liabilities	3,233	1,109
Equity (Deficit)
Share capital	–	–
Share premium	21,668	21,668
Stock-based compensation reserve	5,386	2,760
Deficit	(22,271)	(18,448)
Equity (Deficit) attributable to owners of the company	4,783	5,980
Non-controlling interests	14,818	14,818
Total liabilities and equity	22,834	21,907

The Real Brokerage Inc
Consolidated Statement of Loss and Comprehensive Loss
(unaudited)


	Three months ended March 31,
	2021	2020
Revenue	9,309	2,936
Cost of sales	8,072	2,552
Gross profit	1,237	384
General & Administrative expenses	4,080	784
Advertising expenses	443	152
Research and development expenses	427	23
Operating loss	(3,713)	(575)
Finance (income) costs	110	(332)
Loss before tax	(3,823)	(243)
Income taxes	–	–
Net Loss	(3,823)	(243)
Total loss and comprehensive loss	(3,823)	(243)
Earnings per share
Basic and diluted loss per share	(0.038)	(0.006)

The Real Brokerage Inc
IFRS Net Income (loss) to Adjusted EBITDA Reconciliation
(In thousands)

	Three months ended March 31,

Net Income (loss)	(3,823)	(243)
Non operating expenses
Taxes	–	–
Interest	110	(332)
Depreciation	42	27
Stock-based compensation	2,748	212
Adjusted EBITDA	(923)	(336)

The Real Brokerage Inc
Consolidated Statement of Cash Flows
(unaudited)

	Three months ended March 31,
	2021	2020
Cash flows from operating activities
Loss for the period	(3,823)	(243)
Adjustments for:
– Depreciation	41	27
– Equity-settled share-based payment transactions	2,748	212
– Listing expenses	–	–
– Finance costs (income), net	110	(46)
	(924)	(50)
Changes in:
– Trade receivables	(610)	(157)
– Other receivables	197	–
– Prepaid expenses and deposits	(74)	(1)
– Accounts payable and accrued liabilities	1,807	187
– Stock Compensation Payable	107	–
– Other payables	6	(10)
Net cash used in operating activities	509	(31)
Cash flows from investing activity
Change in restricted cash	–	1
Purchase of property and equipment	(14)	–
Acquisition of subsidiaries consolidated for the first time (a)	(1,165)	–
Net cash used in investing activity	(1,179)	1
Cash flows from financing activities
Payment of lease liabilities	(20)	(15)
Net cash provided by financing activities	(20)	(15)
Net change in cash and cash equivalents	(690)	(45)
Cash, beginning of period	21,226	96
Fluctuations in foreign currency	(9)	3
Cash, end of period	20,527	54

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking information in this press release includes, without limiting the foregoing, information relating to the pace of Real’s financial growth, continued development of the business, further investment in and development of agents, development and refinement of Real’s technology platform for agents and clients, expectations regarding the overall U.S. residential real estate market, statements with respect to the listing of Real’s common shares on the Nasdaq Capital Market, and the business and strategic plans of Real.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: Real’s inability to comply with all Nasdaq Capital Market listing requirements including meeting the necessary share price threshold for a minimum of 90 trading days and meeting the stockholders’ equity requirements, the possibility that the SEC will not bring Real’s Form 40-F registration statement effective, Real’s ability to comply with applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of Real due to the COVID-19 epidemic; a limited operating history, the ability of Real to access capital to meet future financing needs; Real’s reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions. Additional risk factors can be found in Real’s
continuous disclosure documents, which have been filed on SEDAR and can be accessed at

www.sedar.com

.

These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQX has neither approved nor disapproved the contents of this press release.

Contact Information

For additional information, please contact:

James Carbonara

Hayden IR
646-755-7412
[email protected]

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SOURCE The Real Brokerage Inc.

May 11, 2021 7:34 am

Fusion Pharmaceuticals Announces First Quarter 2021 Financial Results and Business Update

PR Newswire

Phase 1 study of FPI-1434 Phase 1 enrollment continues on track for data in 1H2022

Continuing expansion of pipeline of targeted alpha therapies through recently completed transactions

HAMILTON, ON and BOSTON, May 11, 2021 /PRNewswire/ — Fusion Pharmaceuticals Inc. (Nasdaq: FUSN), a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines, today announced financial results for the first quarter ended March 31, 2021 and provided an update on clinical and corporate developments.

“We continue to advance our Phase 1 study of FPI-1434,” said Chief Executive Officer John Valliant, Ph.D. “In anticipation of data and determination of a recommended Phase 2 dose in the first half of 2022, we are amending the study protocol to define tumor-specific cohorts based upon IGF-1R expression and tumor uptake as seen to date in the Phase 1 study.”

Dr. Valliant continued, “In parallel, we are building a diverse pipeline of alpha-emitting radiopharmaceuticals. We expect to file our investigational new drug (IND) application for FPI-1966 in the second quarter of this year. In addition, we recently completed the acquisition of IPN-1087, a first-in-class small molecule beta-emitting radiopharmaceutical targeting neurotensin receptor 1 (NTSR1), which is expressed on multiple solid tumors and which we plan to convert into alpha-emitting FPI-2059. These programs demonstrate the depth and versatility of Fusion’s radiopharmaceutical platform and our potential to treat a broad array of solid tumors with high unmet medical need.

“Evidenced by our recent presentations at the American Association for Cancer Research (AACR) Annual Meeting, we are excited about the potential to evaluate Fusion’s TATs in combination with the latest generation of cancer therapies, including checkpoint inhibitors and DNA damage response inhibitors (DDRis). Our recently announced collaborations with Merck and AstraZeneca enable us to explore these combination therapies and highlight the growing interest in TAT therapies.”

Recent Highlights and Future Milestones

Corporate Updates

On May 6, Fusion announced that it has entered a clinical trial collaboration with a subsidiary of Merck to evaluate FPI-1434 in combination with Merck’s anti-PD-1 (programmed death receptor-1) therapy, KEYTRUDA® (pembrolizumab), in patients with solid tumors expressing insulin-like growth factor 1 receptor (IGF-1R). The planned Phase 1 combination trial will evaluate safety, tolerability and pharmacokinetics of the combination and is expected to initiate approximately six to nine months after achieving the recommended Phase 2 dose in the ongoing Phase 1 study of FPI-1434 monotherapy. Under the terms of the agreement, Fusion will sponsor the study and Merck will supply KEYTRUDA.
On April 10, Fusion announced the presentation of preclinical data at the 2021 AACR Virtual Annual Meeting. The posters, titled “Combination of IGF-1R Targeted Alpha Therapy with Olaparib Results in Synergistic Efficacy Against Colorectal and Lung Cancer Xenografts” and “Combination of IGF-1R Targeted Alpha Therapy with Checkpoint Inhibitors Results in Synergistic Efficacy in Colorectal Cancer Syngeneic Model,” highlight the potential of Fusion’s targeted alpha therapies (TATs) as both monotherapies and combination therapies.
On April 1, Fusion announced the closing of its acquisition of Ipsen’s assets and intellectual property related to IPN-1087. IPN-1087, previously studied in a Phase 1 trial, is a small molecule targeting NTSR1, a protein expressed on multiple solid tumor types. Fusion is using IPN-1087 to create a first-in-class alpha-emitting radiopharmaceutical, FPI-2059, targeting solid tumors expressing NTSR1. The Company expects to submit an IND application in the first half of 2022.

FPI-1434 Monotherapy

Fusion continues to advance the multi-dose portion of its Phase 1 study evaluating FPI-1434 in patients with advanced solid tumors. The dose-finding study is enrolling patients at sites in Canada, the United States and Australia.
Fusion anticipates reporting Phase 1 multi-dose safety and imaging data, and the recommended Phase 2 dose and schedule, in the first half of 2022.

FPI-1434 Combination Therapy

Fusion has evaluated FPI-1434 in preclinical studies in combination with approved checkpoint and DNA damage response inhibitors, including PARP inhibitors, and believes the synergies observed could expand the addressable patient populations for FPI-1434 and allow for potential use in earlier lines of treatment.
As noted above, Fusion anticipates the initiation of a Phase 1 combination study with FPI-1434 and KEYTRUDA® (pembrolizumab) to occur six to nine months following determination of the recommended Phase 2 dose of FPI-1434 monotherapy.

FPI-1966

FPI-1966 is designed to target and deliver actinium-225 to tumors expressing FGFR3, a protein that is overexpressed in head and neck and bladder cancers. Following the completion of pre-clinical studies, the Company expects to submit an IND for FPI-1966 in the second quarter of 2021.

First Quarter 2021 Financial Results

Cash and Investments: As of March 31, 2021, Fusion held cash, cash equivalents and investments of $278.2 million, compared to cash of $299.5 million as of December 31, 2020. Fusion expects its cash, cash equivalents and investments as of March 31, 2021 will enable the Company to fund its operations through the end of 2023.
R&D Expenses: Research and development expenses for the first quarter of 2021 were $10.7 million, compared to $4.4 million for the same period in 2020. The increase was primarily related to increased platform development and research activities, clinical activities related to the ongoing Phase 1 clinical trial of FPI-1434, and preclinical research and manufacturing costs.
G&A Expenses: General and administrative expenses for the first quarter of 2021 were $7.0 million, compared to $4.3 million for the same period in 2020. The increase was primarily related to general corporate expenses, including increased professional and consulting fees as a result of public company activities, as well as increased salaries, benefits and stock compensation costs due to hiring.
Net Loss: For the first quarter of 2021, Fusion reported a net loss of $17.5 million, or $0.42 per share, compared with a net loss attributable to common shareholders of $11.6 million, or $6.01 per share, for the same period in 2020. On a non-GAAP basis, excluding a change in fair value of preferred share tranche right liability and warrant liability, net loss was $8.8 million for the first quarter of 2020.

Impact of COVID-19

While Fusion continues to progress the multi-dosing portion of the Phase 1 clinical trial of FPI-1434, the Company has experienced moderate delays in patient recruitment and enrollment as a result of COVID-19.

Fusion is closely monitoring how the spread of COVID-19 is affecting the Company’s employees, business, preclinical studies and clinical trials. In response to the COVID-19 pandemic, certain employees have transitioned to working remotely and travel has been restricted. Fusion’s research labs are operating but with reduced capacity.

At this time, there is significant uncertainty relating to the trajectory of the pandemic and whether it may cause further delays in patient study recruitment. The impact of related responses and disruptions caused by the COVID-19 pandemic may result in difficulties or delays in initiating, enrolling, conducting or completing the planned and ongoing trials and the incurrence of unforeseen costs as a result of disruptions in clinical supply or preclinical study or clinical trial delays. The impact of COVID-19 on results will largely depend on future developments, which are highly uncertain and cannot be predicted with confidence.

About Fusion
Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Fusion connects alpha particle emitting isotopes to various targeting molecules in order to selectively deliver the alpha emitting payloads to tumors. Fusion’s lead program, FPI-1434, is currently in a Phase 1 clinical trial. The Company is advancing a pipeline of targeted radiopharmaceutical cancer therapies for a broad array of tumor types based upon its proprietary platform technology.

Forward-Looking Statements
Certain statements set forth in this press release constitute “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by terms such as “believes,” “expects,” “plans,” “potential,” “would” or similar expressions and the negative of those terms. Such forward-looking statements involve substantial risks and uncertainties that could cause Fusion’s research and clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the drug development process, including Fusions’ programs’ early stage of development, the ability to move in-licensed targets forward in the clinic, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Fusion’s ability to successfully establish, protect and defend its intellectual property, risks relating to business interruptions resulting from the coronavirus (COVID-19) disease outbreak or similar public health crises and other matters that could affect the sufficiency of existing cash to fund operations. Fusion undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Fusion’s annual report on Form 10-K for the year ended December 31, 2020 which is available on the Securities and Exchange Commission’s website at www.sec.gov and Fusion’s website at www.fusionpharma.com.

FUSION PHARMACEUTICALS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts) (Unaudited)

	March 31, 2021	December 31, 2020
Assets
Current assets:
Cash and cash equivalents	$ 41,070	$ 90,517
Short-term investments	186,150	131,882
Prepaid expenses and other current assets	5,966	5,340
Restricted cash	669	425
Total current assets	233,855	228,164
Property and equipment, net	2,559	1,967
Deferred tax assets	653	653
Restricted cash	1,222	1,466
Long-term investments	50,997	77,082
Operating lease right-of-use assets	7,501	—
Other non-current assets	521	1,344
Total assets	$ 297,308	$ 310,676
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$ 1,018	$ 3,399
Accrued expenses	4,190	4,659
Income taxes payable	216	2,799
Deferred revenue	1,000	1,000
Operating lease liabilities	1,194	—
Total current liabilities	7,618	11,857
Deferred rent, net of current portion	—	11
Income taxes payable, net of current portion	295	295
Deferred revenue, net of current portion	4,000	4,000
Operating lease liabilities, net of current portion	6,324	—
Total liabilities	18,237	16,163
Commitments and contingencies
Shareholders’ equity:
Common shares, no par value, unlimited shares authorized as of March 31, 2021 and December 31, 2020; 41,845,181 and 41,725,797 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	—	—
Additional paid-in capital	409,520	407,672
Accumulated other comprehensive income	283	44
Accumulated deficit	(130,732)	(113,203)
Total shareholders’ equity	279,071	294,513
Total liabilities and shareholders’ equity	$ 297,308	$ 310,676

FUSION PHARMACEUTICALS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except share and per share amounts) (Unaudited)

	Three Months Ended March 31,
	2021	2020
Operating expenses:
Research and development	$ 10,716	$ 4,377
General and administrative	6,964	4,327
Total operating expenses	17,680	8,704
Loss from operations	(17,680)	(8,704)
Other income (expense):
Change in fair value of preferred share tranche right liability	—	(1,118)
Change in fair value of preferred share warrant liability	—	(334)
Interest income (expense), net	96	147
Refundable investment tax credits	—	46
Other income (expense), net	48	(197)
Total other income (expense), net	144	(1,456)
Loss before (provision) benefit for income taxes	(17,536)	(10,160)
Income tax (provision) benefit	7	(62)
Net loss	(17,529)	(10,222)
Unrealized gain on investments	239	—
Comprehensive loss	(17,290)	(10,222)
Reconciliation of net loss to net loss attributable to common shareholders:
Net loss	(17,529)	(10,222)
Dividends paid to preferred shareholders in the form of warrants issued	—	(1,382)
Net loss attributable to common shareholders	$ (17,529)	$ (11,604)
Net loss per share attributable to common shareholders—basic and diluted	$ (0.42)	$ (6.01)
Weighted-average common shares outstanding—basic and diluted	41,784,269	1,929,555

FUSION PHARMACEUTICALS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)

	Three Months Ended March 31,
	2021	2020
Cash flows from operating activities:
Net loss	$ (17,529)	$ (10,222)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	1,718	358
Depreciation and amortization expense	111	172
Non-cash lease expense	241	6
Change in fair value of preferred share tranche right liability	—	1,118
Change in fair value of preferred share warrant liability	—	334
Amortization of premiums (accretion of discounts) on investments, net	453	—
Foreign exchange gain	(4)	—
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(652)	(186)
Other non-current assets	823	—
Accounts payable	(2,346)	858
Accrued expenses	(622)	(120)
Income taxes payable	(2,583)	62
Operating lease liabilities	(206)	—
Net cash used in operating activities	(20,596)	(7,620)
Cash flows from investing activities:
Purchases of investments	(66,074)	—
Maturities of investments	37,660	—
Purchases of property and equipment	(584)	(214)
Net cash used in investing activities	(28,998)	(214)
Cash flows from financing activities:
Proceeds from issuance of Class B convertible preferred shares and Class B preferred share tranche right, net of issuance costs	—	9,907
Proceeds from issuance of common shares upon exercise of stock options	130	—
Net cash provided by financing activities	130	9,907
Effect of exchange rate fluctuations on cash and cash equivalents held	17	—
Net (decrease) increase in cash, cash equivalents and restricted cash	(49,447)	2,073
Cash, cash equivalents and restricted cash at beginning of period	92,408	67,121
Cash, cash equivalents and restricted cash at end of period	$ 42,961	$ 69,194
Supplemental disclosure of cash flow information:
Cash paid for income taxes	$ 2,559	$ —
Right-of-use assets obtained in exchange for new operating lease liability	$ 2,077	$ —
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	$ 152	$ —
Issuance of warrants to purchase Class B preferred shares and Class B preferred exchangeable shares as a non-cash dividend to preferred shareholders	$ —	$ 1,382
Deferred offering costs included in accounts payable and accrued expenses	$ —	$ 1,740

FUSION PHARMACEUTICALS INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS
(In thousands)
(Unaudited)

	Three Months Ended March 31,
	2021	2020
GAAP Net loss	$ (17,529)	$ (10,222)
Less: Adjustments
Change in fair value of preferred share tranche right liability	—	(1,118)
Change in fair value of preferred share warrant liability	—	(334)
Non-GAAP Net loss	$ (17,529)	$ (8,770)

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SOURCE Fusion Pharmaceuticals Inc.

May 11, 2021 7:34 am

WPD Pharmaceuticals to Receive $6.7 Million Grant for Development of Annamycin Drug Candidate

VANCOUVER, British Columbia, May 11, 2021 (GLOBE NEWSWIRE) — WPD Pharmaceuticals Inc. (CSE: WBIO)(FSE: 8SV1) (the “Company” or “WPD”) a clinical-stage pharmaceutical company, is pleased to announce that it has been conditionally awarded a grant of $6,730,036 (20,394,049.68 PLN) from the Polish National Center for Research and Development (“NCRD”), for the development of Annamycin, the Company’s drug candidate used in the treatment of Acute Myeloid Leukemia (“AML”).

Annamycin is a “next generation” anthracycline, that has been shown to be less cardiotoxic compared to other anthracycline, such as doxorubicin, and to avoid multidrug resistance, so the use of Annamycin may not face the same dose limitations imposed on doxorubicin. The project entitled: “A novel approach to the therapy of acute myeloid leukemia (AML)” will be co-financed by the European Union, from the European Regional Development Fund, under the Smart Growth Operational Program 2014-2020. The funds will be used on the continued development of Annamycin in combination treatment and is budgeted to cover about 60% of the planned costs of a Phase 1/2 combination drug clinical trial. WPD sublicenses the rights for Annamycin in 29 European and Asian countries from Moleculin Biotech, Inc. (NASDAQ: MBRX).

The NCRD is an executive agency of the Minister of Science and Higher Education. It was established as a unit implementing tasks in the field of science, technology and state innovation policy. The chief aim of the Centre is to support the creation of innovative solutions and technologies that increase the competitiveness and innovation of the Polish economy.

Mariusz Olejniczak, CEO of WPD Pharmaceuticals commented, “We are very pleased to receive this significant grant of funding which continues to validate and provide confidence in our progress and development of Annamycin. The funds will cover approximately 60% of the costs associated with our development plans and will form the foundation for our ability to continue advancing the drug candidate. We appreciate the continued support from the NCRD and look forward to continuing our collaboration with them.”

About WPD Pharmaceuticals

WPD is a biotechnology research and development company with a focus on oncology and virology, namely research and development of medicinal products involving biological compounds and small molecules. WPD has licensed in certain countries 10 novel drug candidates with 4 that are in clinical development stage. These drug candidates were researched at medical institutions, and WPD currently has ongoing collaborations with Wake Forest University and leading hospitals and academic centers in Poland.

WPD has entered into license agreements with Wake Forest University Health Sciences and sublicense agreements with Moleculin Biotech, Inc. and CNS Pharmaceuticals, Inc., respectively, each of which grant WPD an exclusive, royalty-bearing sublicense to certain technologies of the licensor. Such agreements provide WPD with certain research, development, manufacturing and sales rights, among other things. The sublicense territory from CNS Pharmaceuticals and Moleculin Biotech includes for most compounds 30 countries in Europe and Asia, including Russia.

On Behalf of the Board

‘Mariusz Olejniczak’

Mariusz Olejniczak
CEO, WDP Pharmaceuticals

Contact:

Email: [email protected]
Tel: 604-428-7050
Web: www.wpdpharmaceuticals.com

Investor Relations:

Arrowhead Business and Investment Decisions, LLC

Thomas Renaud
Managing Director
42 Broadway, 17th Floor
New York, NY 10004
Office: +1 212 619-6889
[email protected]

Cautionary Statements:

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements. Forward-looking statements are statements that contemplate activities, events or developments that the Company anticipates will or may occur in the future. Forward-looking statements in this press release include that we can access the NCRD grant and that WPD’s drugs could be developed into novel treatments for cancer. These forward-looking statements reflect the Company’s current expectations based on information currently available to management and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those projected. Factors which may prevent the forward looking statement from being realized is that receipt of the announced grant is subject to a number of conditions including Polish and EU regulation for small and medium enterprises, Polish and EU grant regulation and certain milestones, and we may not be able meet those milestones; competitors or others may successfully challenge a granted patent and the patent could be rendered void; that we are unable to raise sufficient funding for our research; that we may not meet the requirements to receive the grants awarded; that our drugs don’t provide positive treatment, or if they do, the side effects are damaging; competitors may develop better or cheaper drugs; and we may be unable to obtain regulatory approval for any drugs we develop. Readers should refer to the risk disclosure included from time-to-time in the documents the Company files on SEDAR, available at www.sedar.com. Although the Company believes that the assumptions inherent in these forward-looking statements are reasonable, they are not guarantees of future performance and, accordingly, they should not be relied upon and there can be no assurance that any of them will prove to be accurate. Finally, these forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update them except as required by applicable law.

May 11, 2021 7:34 am

ASLAN Pharmaceuticals Reports First Quarter 2021 Financial Results and Provides Corporate Update

– Next data readout for ASLAN004 in the treatment of patients with moderate to severe atopic dermatitis anticipated in the third quarter of 2021

– Phase 2b clinical trial for ASLAN004 expected to initiate in the second half of 2021

SINGAPORE, May 11, 2021 (GLOBE NEWSWIRE) — ASLAN Pharmaceuticals (Nasdaq:ASLN), a clinical-stage immunology focused biopharmaceutical company developing innovative treatments to transform the lives of patients, today announced financial results for the first quarter ended March 31, 2021 and provided an update on its clinical development activities.

Dr Carl Firth, Chief Executive Officer, ASLAN Pharmaceuticals, said: “We have continued to make solid progress in 2021 and we are on track to complete the expansion cohort in our multiple ascending dose trial for ASLAN004 with an additional 27 patients expected to be enrolled by mid-2021 followed by the announcement of topline data expected in the third quarter of 2021. We are excited to expand our senior management team with two highly experienced executives, Dr Karen Veverka, who will be leading our clinical development program, and Joseph Suttner to lead clinical operations. In addition, we are preparing for our Phase 2b trial for ASLAN004, which we expect to initiate in the second half of 2021. Our robust financial position provides the resources to fund development activities and achieve additional value creating milestones for shareholders.”

First quarter 2021 and recent business highlights

Clinical development

ASLAN004

Positive interim data from the three dose cohorts of the ongoing Phase 1 randomised, double-blind placebo controlled multiple ascending dose (MAD) study of ASLAN004 for the treatment of moderate to severe atopic dermatitis (AD) were announced in March. ASLAN004, a novel, first-in-class antibody, was well tolerated across all doses and showed improvements compared to placebo in all efficacy endpoints, supporting its potential as a differentiated treatment for AD. Additional data from the expansion cohort is planned for the third quarter of 2021.
New data from the Single Ascending Dose study that demonstrate ASLAN004’s favourable tolerability profile as an IL-13Rα1 inhibitor and as a differentiated treatment method for atopic dermatitis patients were accepted for poster presentation at the 2021 Society for Investigative Dermatology virtual meeting on 6 May. The data will also be published in the fall edition of the Journal of Investigative Dermatology.

Corporate updates

Appointed Dr Karen Veverka as Vice President, Medical to lead ASLAN’s clinical medical development program for new products, including Phase 2 and 3 trials. Dr Veverka brings more than 20 years of experience in the pharmaceutical industry, as well as significant preclinical and clinical research and development (R&D) experience in immunology and dermatology. Prior to joining ASLAN, Dr Veverka was Senior Medical Director and Medical Head for the Innovative Portfolio at LEO Pharma, a leader in global dermatology. At LEO she led the development of brand medical strategy and execution of medical affairs activities for products in the AD and psoriasis therapeutic areas, including tralokinumab. Dr Veverka has also held leadership roles at Novartis and GTx. Dr Veverka earned her PhD in Pharmacology at The Mayo Clinic Graduate School of Biomedical Sciences and completed a postdoctoral research fellowship at St Jude Children’s Research Hospital.
Appointed Joseph Suttner as Vice President, Clinical Operations. Mr Suttner brings more than 20 years in clinical operations and R&D, including more than 8 years in dermatology. Mr Suttner has successfully led clinical operations teams at Dermira, PellePharm and several other biotechnology companies through Phase 2b trials in AD, Gorlin syndrome, and actinic keratosis, among other conditions.

Anticipated upcoming milestones

Completion of MAD clinical study of ASLAN004 in moderate-to-severe AD patients with clinical results expected in third quarter of 2021.
Initiation of Phase 2b study of ASLAN004 for AD expected in the second half of 2021.

First quarter 2021 financial highlights

Cash used in operations for the first quarter of 2021 was US$7.6 million compared to US$5.2 million in the same period in 2020.
Research and development expenses were US$3.8 million in the first quarter of 2021 compared to US$2.4 million in the first quarter of 2020. The increase was driven by manufacturing expenses incurred in preparation for the Phase 2b trial of ASLAN004.
General and administrative expenses were US$3.1 million in the first quarter of 2021 compared to US$1.0 million in the first quarter of 2020. The increase was due to the increase in headcount and staffing costs in preparation for the Phase 2b trial of ASLAN004 and additional corporate costs incurred to support the fundraising activities that were concluded in the first quarter of 2021.
Net loss for the first quarter of 2021 was US$6.7 million compared to a net loss of US$3.0 million for the first quarter of 2020.
Cash, cash equivalents and short-term investments totalled US$100.8 million as of 31 March 2021 compared to US$14.3 million as of 31 December 2020. Following the financing activities in the first quarter of 2021, which raised combined gross proceeds of approximately US$101 million, management believes that its cash and cash equivalents will be sufficient to fund operations into 2023.
The weighted-average number of American Depository Shares (ADSs) outstanding in the computation of basic loss per share for the first quarter of 2021 was 51.4 million (representing 257.2 million ordinary shares) compared to 38.0 million (representing 190.0 million ordinary shares) for the first quarter of 2020. Following the financing activities in the first quarter of 2021, the number of ADSs outstanding on 31 March 2021 was 69.5 million (representing 347.6 million ordinary shares). One ADS is the equivalent of five ordinary shares.


ASLAN Pharmaceuticals Limited CONSOLIDATED BALANCE SHEETS (In U.S. Dollars)

	December 31, 2020 (audited)			March 31, 2021 (unaudited)
ASSETS

CURRENT ASSETS
Cash and cash equivalents	$	14,324,371		$	100,818,328
Other receivables		528,841			528,841
Prepayments		511,208			397,135
Financial assets at fair value through profit or loss		137,926			–
Total current assets		15,502,346			101,744,304

NON-CURRENT ASSETS
Property, plant and equipment		13,387			8,153
Right-of-use assets		462,550			396,349
Intangible assets		160			–
Refundable deposits		103,307			70,050
Total non-current assets		579,404			474,552

TOTAL ASSETS	$	16,081,750		$	102,218,856

LIABILITIES AND EQUITY

CURRENT LIABILITIES
Trade payables	$	2,319,558		$	1,943,657
Other payables		4,280,409			3,450,273
Current portion of long-term borrowing		2,900,971			–
Current portion of long-term borrowing from related parties		617,912			–
Lease liabilities – current		271,624			161,602
Financial liabilities at fair value through profit or loss		267,000			–
Total current liabilities		10,657,474			5,555,532

NON-CURRENT LIABILITIES
Financial liabilities at fair value through profit or loss		–			–
Long-term borrowings		15,183,421			15,098,337
Lease liabilities – non-current		281,149			281,149
Other non-current liabilities		111,990			111,990
Total non-current liabilities		15,576,560			15,491,476

Total liabilities		26,234,034			21,047,008

EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE COMPANY
Ordinary shares		61,826,237			63,008,864
Capital surplus		123,582,460			220,694,153
Accumulated deficits		(195,682,714	)		(202,403,231	)
Other reserves		(178,948	)		(178,948	)

Total equity attributable to stockholders of the Company		(10,452,965	)		81,120,838

NON-CONTROLLING INTERESTS		300,681			51,010

Total equity		(10,152,284	)		81,171,848

TOTAL LIABILITIES AND EQUITY	$	16,081,750		$	102,218,856


ASLAN Pharmaceuticals Limited CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In U.S. Dollars, other than shares or share data)

	For the Three Months Ended March 31
		2020			2021

NET REVENUE	$	–		$	–

COST OF REVENUE		–			–

GROSS PROFIT		–			–

OPERATING EXPENSES
General and administrative expenses		(997,543	)		(3,105,064	)
Research and development expenses		(2,354,616	)		(3,750,972	)
Total operating expenses		(3,352,159	)		(6,856,036	)


LOSS FROM OPERATIONS		(3,352,159	)		(6,856,036	)

NON-OPERATING INCOME AND EXPENSES
Interest income		102			137
Other gains and losses		457,251			297,185
Finance costs		(339,025	)		(411,474	)
Total non-operating income and expenses		118,328			(114,152	)

LOSS BEFORE INCOME TAX		(3,233,831	)		(6,970,188	)

INCOME TAX EXPENSE		–			–

NET LOSS FOR THE PERIOD		(3,233,831	)		(6,970,188	)
OTHER COMPREHENSIVE LOSS
Items that will not be reclassified subsequently to profit or loss:
Unrealized loss on investments in equity instruments at fair value through OCI		(35,007	)		–
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$	(3,268,838	)	$	(6,970,188	)

NET LOSS ATTRIBUTABLE TO:
Stockholders of the Company	$	(3,046,705	)	$	(6,720,517	)
Non-controlling interests		(187,126	)		(249,671	)
	$	(3,233,831	)	$	(6,970,188	)

TOTAL COMPREHENSIVE LOSS ATTRIBUTABLE TO:
Stockholders of the Company	$	(3,081,712	)	$	(6,720,517	)
Non-controlling interests		(187,126	)		(249,671	)
	$	(3,268,838	)	$	(6,970,188	)
LOSS PER ORDINARY SHARE
Basic and diluted	$	(0.02	)	$	(0.03	)
LOSS PER EQUIVALENT ADS
Basic and diluted	$	(0.08	)	$	(0.13	)
Weighted-average number of ordinary shares in the computation of basic loss per ordinary share		189,954,970			257,163,743
Weighted-average number of ADS in the computation of basic loss per ADS		37,990,994			51,432,749

^{Each ADS represents five ordinary shares.}

Media and IR contacts

Emma Thompson

Spurwing Communications
Tel: +65 6751 2021
Email: [email protected]

Robert Uhl

Westwicke Partners
Tel: +1 858 356 5932
Email: [email protected]

About ASLAN Pharmaceuticals

ASLAN Pharmaceuticals (Nasdaq:ASLN) is a clinical-stage immunology focused biopharmaceutical company developing innovative treatments to transform the lives of patients. Led by a senior management team with extensive experience in global development and commercialisation, ASLAN has a clinical portfolio comprised of a first-in-class monoclonal therapy, ASLAN004, that is being developed in atopic dermatitis and other immunology indications, and ASLAN003, which it plans to develop for autoimmune disease. For additional information please visit www.aslanpharma.com.

Forward looking statements

This release and the accompanying financial information, if any, contains forward-looking statements. These statements are based on the current beliefs and expectations of the management of ASLAN Pharmaceuticals Limited and/or its affiliates (the “Company”). These forward-looking statements may include, but are not limited to, statements regarding the Company’s business strategy and clinical development plans; the Company’s plans to develop and commercialise ASLAN004; the safety and efficacy of ASLAN004; the Company’s plans and expected timing with respect to clinical trials and clinical trial results for ASLAN004; the potential for ASLAN004 as a differentiated treatment for atopic dermatitis; and the Company’s belief that its cash and cash equivalents will be sufficient to fund operations into 2023. The Company’s estimates, projections and other forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and inherently involve significant known and unknown risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of many risks and uncertainties, which include, unexpected safety or efficacy data observed during preclinical or clinical studies; clinical site activation rates or clinical trial enrolment rates that are lower than expected; the impact of the COVID-19 pandemic on the Company’s business and the global economy; general market conditions; changes in the competitive landscape; and the Company’s ability to obtain sufficient financing to fund its strategic and clinical development plans. Other factors that may cause actual results to differ from those expressed or implied in such forward-looking statements are described in the Company’s US Securities and Exchange Commission filings and reports (Commission File No. 001-38475), including the Company’s Annual Report on Form 20-F filed with the US Securities and Exchange Commission on April 23, 2021

All statements other than statements of historical fact are forward-looking statements. The words “believe,” “may,” “might,” “could,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections, and other forward-looking statements. Estimates, projections, and other forward-looking statements speak only as of the date they were made, and, except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection, or forward-looking statement.

May 11, 2021 7:33 am

Immune Therapeutics FINRA Approval for 1:1000 Reverse Stock Split

Orlando, Florida , May 11, 2021 (GLOBE NEWSWIRE) — Immune Therapeutics Inc. (OTC-PINK: IMUN) (the “Company”) announced today that FINRA has processed a reverse split of 1-for 1,000 of the issued and outstanding stock. The reverse stock split was completed with the state of Florida on March 12, 2020. FINRA’s processing was the last step necessary to fully effectuate the reverse split approved by shareholders in October of 2019.

The Company’s common stock began trading on a split-adjusted basis on the Over-the-Counter Exchange (OTC-PINK) at market open on May 6, 2021. Please note that a “D” will be appended as the 5^th character for a period of 20 business days from the effective date.

As a result of the reverse stock split, each 1,000 pre-split shares of common stock outstanding will automatically be combined into one issued and outstanding share of common stock. No fractional shares of common stock will be issued as a result of any reverse stock split, fractional shares will be rounded up to whole shares.

This news release includes “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, including, without limitation, statements about the reverse stock split, authorized shares reduction and the related timing of implementation and effects thereof. Forward-looking statements are statements other than statements of historical fact. These forward-looking statements are generally identified by the words “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “may,” “should,” “could,” “will,” “would,” and “will be,” and variations of such words and similar expressions, although not all forward-looking statements contain these identifying words. Although we believe the expectations and forecasts reflected in the forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate or changed assumptions or by known or unknown risks and uncertainties.

Immune Therapeutics:
(888) 613-8802
www.immunetherapeutics.com

May 11, 2021 7:33 am

L Brands Announces Plan to Separate Bath & Body Works and Victoria’s Secret Into Two Industry-Leading Publicly Traded Companies

– COMPANY PLANS TAX-FREE SPIN-OFF OF VICTORIA’S SECRET TO L BRANDS SHAREHOLDERS –

– SEPARATION TO CREATE ENHANCED PROSPECTS FOR LONG-TERM VALUE CREATION –

– TRANSACTION EXPECTED TO BE COMPLETED IN AUGUST 2021 –

– EXPECTS TO REPORT RECORD FIRST QUARTER EARNINGS –

COLUMBUS, Ohio, May 11, 2021 (GLOBE NEWSWIRE) — L Brands, Inc. (NYSE: LB) today announced its Board of Directors has unanimously approved a plan to separate the company into two independent, public companies: Bath & Body Works, one of the world’s leading bath, body and home fragrance retailers, and Victoria’s Secret, including Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty, a leading retailer of intimates and beauty products. The company expects to create these companies through a tax-free spin-off of Victoria’s Secret to L Brands’ shareholders. The spin-off will enable each company to maximize management focus and financial flexibility to thrive in an evolving retail environment and deliver profitable growth.

“In the last ten months, we have made significant progress in the turnaround of the Victoria’s Secret business, implementing merchandise and marketing initiatives to drive top line growth, as well as executing on a series of cost reduction actions, which together have dramatically increased profitability,” said Sarah Nash, Chair of the Board. “As a result of these efforts, Victoria’s Secret is now well-positioned to operate as a standalone, public company. Further, both Bath & Body Works and Victoria’s Secret are leaders in their respective markets, and, as separate businesses, each will be ideally positioned to benefit from a sharpened focus on pursuing growth strategies best suited to each company’s customer base and strategic objectives. With this in mind, the Board believes that this path forward will return the highest value to shareholders and that the separation will allow each business to achieve its best opportunities for growth.”

As previously announced, the L Brands Board has been evaluating the possibility of either a spin-off or sale of Victoria’s Secret with input from its financial advisors, Goldman Sachs and JP Morgan. Throughout the review process, the company received interest from and held discussions with multiple potential buyers.

Ultimately, the Board concluded that the spin-off of Victoria’s Secret into a separate, public company would provide shareholders with more value than a sale. The benefits of separating these two businesses include distinct strategic and management focus on specific operational and growth priorities and tailored capital deployment strategies based on each company’s operating and financial model, and the ability for the investment community to value each business independently and create significant value and certainty for our customers, employees and shareholders. The proposed transaction will create two highly focused companies:

Bath & Body Works (L Brands): Leading Bath, Body and Home Fragrance Retailer

Bath & Body Works is one of the world’s leading specialty retailers. Home to America’s Favorite Fragrances®, Bath & Body Works offers a breadth of exclusive fragrances for the body and home, including top-selling collections for body lotion and body cream, body wash, hand soap, hand sanitizers, fragrance diffusers, fine fragrance mist and candles. The business has a demonstrated record of consistent sales and operating income growth, as well as a proven ability to respond quickly to evolving customer tastes with a high-speed sourcing and logistics model. With high brand awareness and a loyal customer base, the business is well positioned for continued growth in North America, as well as globally.

Victoria’s Secret: Iconic Lingerie and Beauty Retailer

Victoria’s Secret is an iconic global brand of women’s intimate and other apparel, personal care and beauty products. It sells products through two brands, Victoria’s Secret and PINK. Victoria’s Secret is a category-defining global lingerie brand with a leading market position and a rich, 40-year history of serving women across the globe. PINK is a lifestyle brand for the college-oriented customer, built around a strong intimates core. It also sells beauty products under both the Victoria’s Secret and PINK brands. Together, Victoria’s Secret, PINK and Victoria’s Secret Beauty support, inspire and celebrate women through every phase of their life. The business recently implemented a profit improvement plan, and took actions to improve its product assortment, inventory mix and marketing to meet customers’ needs and evolve to more diverse and inclusive brand positioning. As a result of these efforts, Victoria’s Secret delivered a 2020 fall season (third and fourth quarters) adjusted operating income increase of more than 300 percent and is well positioned to continue to drive global growth.

Management Structure

Both businesses have strong, well-tenured leadership teams with significant industry experience, well suited to lead the two companies going forward in their distinct markets.

Andrew Meslow, Chief Executive Officer of L Brands, will continue to hold this position and lead Bath & Body Works following the spin-off.

Martin Waters, Chief Executive Officer of Victoria’s Secret, will continue to lead the new standalone Victoria’s Secret business following the separation.

Additions to the management teams and the composition of the boards of directors for both companies will be named in due course.

Transaction Details

The spin-off is expected to be effected through a pro-rata distribution to L Brands shareholders of common stock of a newly-formed entity holding certain assets and liabilities comprising the Victoria’s Secret business. The spin-off is generally expected to qualify as tax free to L Brands and its shareholders for U.S. federal income tax purposes. The transaction is currently expected to be completed in August 2021, subject to certain customary conditions, including final approval of the L Brands Board and effectiveness of a Form 10 registration statement filed with the U.S. Securities and Exchange Commission.

Preliminary First Quarter 2021 Results

L Brands expects to report first quarter earnings per share of approximately $0.97, which includes a charge related to the early extinguishment of debt of $0.28 per share. Excluding this charge, the company expects to report adjusted earnings per share of approximately $1.25 versus its previous guidance of $0.85 to $1.00. The increase reflects continuing strong sales and margin results at both Bath & Body Works and Victoria’s Secret, which benefitted from stimulus payments and the relaxation of COVID-19 restrictions, as previously reported. For the first quarter, the company expects to report total operating income of approximately $570 million, including approximately $380 million at Bath & Body Works and approximately $245 million at Victoria’s Secret. The company will report its first quarter earnings results after the close of the market on May 19.

Meslow commented “We anticipate L Brands will deliver a record first quarter earnings result, driven by continued strength and exceptional performance at Bath & Body Works and a significant improvement at Victoria’s Secret. We are confident in the growth opportunities for each business and are excited to share our vision for each business as we continue to work toward the August separation.”

The company reported net sales of $3.024 billion for the first quarter ended May 1, 2021, compared to net sales of $1.654 billion for the first quarter ended May 2, 2020. First quarter 2020 sales were negatively impacted by the closure of stores for approximately half the quarter due to the COVID-19 pandemic. First quarter 2021 sales increased 15 percent compared to sales of $2.629 billion in the first quarter of 2019.

At Bath & Body Works, net sales were $1.469 billion for the first quarter ended May 1, 2021, compared to net sales of $760.6 million for the first quarter ended May 2, 2020. First quarter 2021 sales increased 60 percent compared to the first quarter of 2019. First quarter 2021 U.S. and Canada store sales increased 47 percent to $1.050 billion compared to $714.3 million in 2019. First quarter 2021 sales in the direct channel were $349.2 million, an increase of 21 percent compared to 2020 and a 123 percent increase compared to 2019.

At Victoria’s Secret, net sales were $1.554 billion for the first quarter ended May 1, 2021, compared to net sales of $893.6 million for the first quarter ended May 2, 2020. First quarter 2021 sales decreased 7 percent compared to the first quarter of 2019 and reflect the net closure of 233 company-operated stores since the first quarter of 2019. Comparable U.S. and Canada store sales for the first quarter of 2021 decreased 3% compared to the first quarter of 2019. First quarter 2021 sales in the direct channel were $520.9 million, an increase of 69 percent compared to 2020 and a 44 percent increase compared to 2019.

Advisors

Goldman Sachs and JP Morgan are serving as financial advisors and Davis Polk & Wardwell is serving as legal counsel to L Brands. Wachtell, Lipton, Rosen & Katz is serving as legal counsel to the independent directors of the Board.

ABOUT L BRANDS:

L Brands, through Bath & Body Works, Victoria’s Secret and PINK, is an international company. The company operates 2,681 company-operated specialty stores in the United States, Canada and Greater China, in more than 700 franchised locations worldwide and through its websites worldwide.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this report or made by our Company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this report or otherwise made by our company or our management:

the spin-off may not be consummated within the anticipated time period or at all;
disruption to our business in connection with the proposed spin-off and that we could lose revenue as a result of such disruption;
the spin-off may not be tax-free for U.S. federal income tax purposes;
a loss of synergies from separating the businesses that could negatively impact the balance sheet, profit margins or earnings of both businesses or that the companies resulting from the spin-off do not realize all of the expected benefits of the spin-off;
the combined value of the common stock of the two publicly-traded companies will not be equal to or greater than the value of our common stock had the spin-off not occurred;
general economic conditions, consumer confidence, consumer spending patterns and market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises or other major events, or the prospect of these events;
the novel coronavirus (COVID-19) global pandemic has had and is expected to continue to have an adverse effect on our business and results of operations;
the seasonality of our business;
divestitures or other dispositions, including a spin-off of Victoria’s Secret and related operations and contingent liabilities from businesses that we have divested;
difficulties arising from turnover in company leadership or other key positions;
our ability to attract, develop and retain qualified associates and manage labor-related costs;
the dependence on mall traffic and the availability of suitable store locations on appropriate terms;
our ability to grow through new store openings and existing store remodels and expansions;
our ability to successfully operate and expand internationally and related risks;
our independent franchise, license and wholesale partners;
our direct channel businesses;
our ability to protect our reputation and our brand images;
our ability to attract customers with marketing, advertising and promotional programs;
our ability to maintain, enforce and protect our trade names, trademarks and patents;
the highly competitive nature of the retail industry and the segments in which we operate;
consumer acceptance of our products and our ability to manage the life cycle of our brands, keep up with fashion trends, develop new merchandise and launch new product lines successfully;
our ability to source, distribute and sell goods and materials on a global basis, including risks related to:
political instability, environmental hazards or natural disasters;
significant health hazards or pandemics, which could result in closed factories, reduced workforces, scarcity of raw materials, and scrutiny or embargoing of goods produced in infected areas;
duties, taxes and other charges;
legal and regulatory matters;
volatility in currency exchange rates;
local business practices and political issues;
potential delays or disruptions in shipping and transportation and related pricing impacts;
disruption due to labor disputes; and
changing expectations regarding product safety due to new legislation;
our geographic concentration of vendor and distribution facilities in central Ohio;
fluctuations in foreign currency exchange rates;
the ability of our vendors to deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations;
fluctuations in product input costs;
our ability to adequately protect our assets from loss and theft;
fluctuations in energy costs;
increases in the costs of mailing, paper, printing or other order fulfillment logistics;
claims arising from our self-insurance;
our and our third-party service providers’ ability to implement and maintain information technology systems and to protect associated data;
our ability to maintain the security of customer, associate, third-party and company information;
stock price volatility;
our ability to pay dividends and related effects;
shareholder activism matters;
our ability to maintain our credit rating;
our ability to service or refinance our debt and maintain compliance with our restrictive covenants;
our ability to comply with laws, regulations and technology platform rules or other obligations related to data privacy and security;
our ability to comply with regulatory requirements;
legal and compliance matters; and
tax, trade and other regulatory matters.

We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this report to reflect circumstances existing after the date of this report or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.

For further information, please contact:

L Brands:
Investor Relations	Media Relations
Amie Preston	Brooke Wilson
(614) 415-6704	(614) 415-6042
[email protected]	[email protected]

L BRANDS

FIRST QUARTER 2021

Comparable Sales Increase (Decrease) (Stores and Direct):

	First Quarter 2021	First Quarter 2020

Bath & Body Works¹	16%	41%
Victoria’s Secret²	25%	(15%)
L Brands ²	21 %	4 %

NOTE: Stores are excluded from the comparable sales calculation when they have been closed for four consecutive days or more. Therefore, comparable sales results exclude periods of time that stores were closed for four consecutive days or more as a result of the COVID-19 pandemic. Refer to our SEC filings for further discussion regarding our comparable sales calculation.
¹ – Results include company-operated stores in the U.S. and Canada and direct sales.
²– Results include company-operated stores in the U.S., Canada, the U.K. (pre-joint venture) and Greater China and direct sales.

Comparable Sales Increase (Decrease) (Stores Only):

	First Quarter 2021	First Quarter 2020

Bath & Body Works¹	12%	20%
Victoria’s Secret²	3%	(18%)
L Brands ²	7 %	(5 %)

NOTE: Stores are excluded from the comparable sales calculation when they have been closed for four consecutive days or more. Therefore, comparable sales results exclude periods of time that stores were closed for four consecutive days or more as a result of the COVID-19 pandemic. Refer to our SEC filings for further discussion regarding our comparable sales calculation.
¹ – Results include company-operated stores in the U.S. and Canada.
²– Results include company-operated stores in the U.S., Canada, the U.K. (pre-joint venture) and Greater China.

Total Sales (Millions):

	First Quarter 2021		First Quarter 2020		% Inc/ (Dec)		First Quarter 2021		First Quarter 2019		% Inc/ (Dec)

Bath & Body Works Stores – U.S. and Canada	$1,050.5		$423.8		147.9	%	$1,050.5		$714.3		47.1	%
Bath & Body Works Direct		349.2		288.9	20.9	%		349.2		156.4	123.3	%
Bath & Body Works International¹		69.8		47.9	45.7	%		69.8		48.3	44.5	%
Total Bath & Body Works	$1,469.5		$760.6		93.2	%	$1,469.5		$919.0		59.9	%
Victoria’s Secret Stores – U.S. and Canada	$932.9		$514.0		81.5	%	$932.9		$1,148.8		(18.8	%)
Victoria’s Secret Direct		520.9		307.6	69.4	%		520.9		362.1	43.9	%
Victoria’s Secret International²		100.4		72.0	39.4	%		100.4		159.5	(37.1	%)
Total Victoria’s Secret	$1,554.2		$893.6		73.9	%	$1,554.2		$1,670.4		(7.0	%)
Other		–		–	–			–		39.4	–
L Brands	$ 3,023.7		$ 1,654.2		82.8	%	$ 3,023.7		$ 2,628.8		15.0	%

¹ – Results include royalties associated with franchised stores and wholesale sales.
² – Results include company-operated stores in the U.K. (pre-joint venture) and Greater China, royalties associated with franchised stores and wholesale sales.

Total Company-Operated Stores:


	Stores at 1/30/21	Opened	Closed		Stores at 5/1/21


Bath & Body Works	1,633	21	(5	)	1,649
Bath & Body Works Canada	103	–	–		103
Total Bath and Body Works	1,736	21	(5	)	1,752

Victoria’s Secret	703	–	(5	)	698
PINK	143	–	–		143
Victoria’s Secret Canada	23	1	–		24
PINK Canada	2	–	–		2
Victoria’s Secret Beauty and Accessories	36	1	(1	)	36
Victoria’s Secret Greater China	26	–	–		26
Total Victoria’s Secret	933	2	(6	)	929

Total L Brands	2,669	23	(11	)	2,681

Total Partner-Operated Stores:


	Stores at 1/30/21	Opened	Closed		Stores at 5/1/21

Bath & Body Works	270	14	(3	)	281
Bath & Body Works – Travel Retail	18	–	–		18
Victoria’s Secret	103	1	–		104
PINK	17	–	–		17
Victoria’s Secret Beauty & Accessories	195	2	(1	)	196
Victoria’s Secret Beauty & Accessories – Travel Retail	143	–	(2	)	141
Total L Brands	746	17	(6	)	757

May 11, 2021 7:33 am

SAIC Wins $200 Million Contract with DIA for Laboratory Operations and Support

SAIC Wins $200 Million Contract with DIA for Laboratory Operations and Support

RESTON, Va.–(BUSINESS WIRE)–
Science Applications International Corp. (NYSE: SAIC) was awarded an indefinite-delivery, indefinite-quantity contract to continue to provide laboratory operations and support to the Defense Intelligence Agency. Work will be performed in Huntsville, Alabama, with an expected completion date of March 29, 2031. This single-award contract has an estimated ceiling value of approximately $200 million.

“Our legacy of support to DIA for this important work dates back more than 30 years. As foreign threats to our country and allies continue to evolve, our transformative solutions and innovation will continue to support DIA as a trusted partner,” said Michael LaRouche, president of SAIC’s National Security and Space sector. “We are proud to continue our work delivering essential assessments and analysis to DIA, the Department of Defense and the intelligence community so that we are well-equipped to protect our warfighters with the necessary information to mitigate foreign threat systems.”

The DIA provides warfighters, weapons developers, policy makers, and homeland security with intelligence assessments on foreign weapons systems. They use scientific and technical methods to evaluate intelligence data to determine the characteristics, performance, operations, and vulnerabilities of foreign weapons systems.

About SAIC

SAIC^® is a premier Fortune 500^® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence, and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective, and efficient solutions that are critical to achieving our customers’ missions.

We are more than 26,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.1 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.

Forward-Looking Statements

Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.comor on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210511005648/en/

Media Contact:

Lauren Presti

703.676.8982 | [email protected]

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Technology Engineering Security Aerospace Manufacturing Software Internet Hardware Data Management

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