Market Newsdesk

TORONTO and WATERLOO, ON, March 8, 2021 /PRNewswire/ — To mark International Women’s Day, Girl Guides of Canada-Guides du Canada (GGC) and BlackBerry Limited (NYSE: BB; TSX: BB) today announced the success of their joint cybersecurity skills-based program, with more than 5,600 GGC members across the country earning Digital Defenders crests; proof of their newfound cyber-smarts.

Announced in November 2019 and designed to provide girls with the necessary skill-set to spark early interest in the cybersecurity industry, the Girl Guide-led program encouraged participants to take a “how stuff works” approach to cybersecurity, giving them a robust and in-depth look at the topics through play and discovery-based learning.  

In addition to the more than 5,600 girls who were awarded with GGC’s first ever cybersecurity crest, over the course of the year long partnership, Girl Guides tackled nearly 20,000 different activities – both online and in-person as part of the program.

Through the program, girls (from the ages of 5 – 18) had the chance to dive into things like how computers work, how data travels, what hacking is all about and how cybersecurity creates layers of protection. From solving puzzles as part of a cybersecurity-inspired escape room, completing a paint-based colour mixing activity to understand encryption, playing tag-based games to explore how different types of malware can infect your computer and much more, Sparks, Brownies, Guides, Pathfinders and Rangers across the country worked to complete a set number of activities and modules that taught them various cybersecurity skills.

“We’re thrilled with the program’s results and the fact that so many girls saw value in becoming cybersecurity savvy while learning about the consequences and dangers of unsafe online behaviors that could potentially put them, their device or their personal information at risk,” said Sarah Tatsis, VP, Advanced Technology Development Labs, BlackBerry. “The Digital Defenders program has allowed girls to develop critical cybersecurity skills – of particular importance right now as the COVID-19 pandemic has forced them to participate in countless virtual activities and extended periods of remote learning. With the cybersecurity industry facing a significant talent – and gender gap – a big part of the program’s aim was to ‘spark’ cybersecurity interest at a young age and I’m confident that many now see how interesting and valuable these foundational skills are and that there are many career opportunities out there in which they can make a difference with their newfound cyber-smarts.”

“At Girl Guides of Canada, we’ve always empowered girls with the necessary skills they need to excel,” said Jill Zelmanovits, CEO, GGC. “We’re thrilled that the program was so well received and has become even more relevant for girls today as they navigate the current tech landscape and are emersed in more extended periods of online learning due to current pandemic protocols. Programs like Digital Defenders that encourage girls to dive in, ask curious questions, problem-solve and explore how technology works serve as an important incubator to foster girls’ confidence that technology can be a very rewarding career path.”

“I learned a lot about cybersecurity through the Digital Defenders program,” said Victoria Huk, an Ontario Ranger. “The information was much more current and detailed than what I would have learned in school. Most of the information we get in school revolves around not talking to strangers online, and we don’t learn much about cybersecurity. I liked that Digital Defenders included tips that are practical for protecting yourself, such as the importance of creating a strong password and updating it. Overall, I thought it was a great program that was current and engaging.”

To learn more about the GGC and BlackBerry “Digital Defenders” program, please visit www.girlguides.ca/digitaldefenders.

About BlackBerry
BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including 175M cars on the road today.  Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems.  BlackBerry’s vision is clear – to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere. 
For more information, visit BlackBerry.com and follow @BlackBerry.  

Trademarks, including but not limited to BLACKBERRY and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.

About Girl Guides of Canada
Girl Guides of Canada–Guides du Canada (GGC) empowers every girl in Guiding to discover herself and be everything she wants to be. In Guiding, girls from 5-17 meet with girls their own age in a safe, inclusive space to explore what matters to them. Options to support girls in virtual Guiding are in place to ensure they can continue to enjoy a wide range of programming options like STEM activities, discussions on mental health and healthy relationships. Girl Guides is where girls take the lead, put their ideas into action and jump into awesome activities – all with the support of engaged leaders who are committed to positively impacting their lives. Guiding is all about supporting girls as they take on challenges and grab hold of every opportunity that comes their way. For more information visit GirlGuides.ca and follow @girlguidesofcanada.

Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
[email protected]

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SOURCE BlackBerry Limited

SAN FRANCISCO and ROCKVILLE, Md., March 8, 2021 /PRNewswire/ — Cleave Therapeutics, Inc. (“Cleave”), a clinical-stage biopharmaceutical company focused on valosin-containing protein (VCP)/p97 as a novel target in protein homeostasis, DNA damage response and other cellular stress pathways for therapeutic use in cancer, and CASI Pharmaceuticals, Inc (NASDAQ: CASI), a U.S. biopharmaceutical company with an established clinical development and commercial infrastructure in China, today announced they have entered an exclusive licensing agreement for the development and commercialization of CB-5339, a novel VCP/p97 inhibitor, in mainland China, Taiwan, Hong Kong and Macau.

Under the terms of the agreement, Cleave and CASI will develop CB-5339 in both hematological malignancies and solid tumors, with CASI responsible for development and commercialization in China and associated markets. Cleave will receive a $5.5 million upfront payment and is eligible to receive up to $74 million in development and commercial milestone payments plus tiered royalties in the high-single to mid-double-digit range on net sales of CB-5339. In addition to the upfront cash payment, CASI will make a $5.5 million investment in Cleave through a convertible note. 

CB-5339, an oral second-generation, small molecule VCP/p97 inhibitor, is being evaluated in a Phase 1 clinical trial in patients with acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS), while the National Cancer Institute (NCI) is sponsoring and evaluating CB-5339 in a Phase 1 clinical trial of patients with solid tumors and lymphomas.

“Our collaboration with CASI is a strategic step to accelerate the development of CB-5339 globally by initiating trials for additional indications such as multiple myeloma in Greater China,” said Amy Burroughs, President and CEO of Cleave Therapeutics. “CASI’s development and commercial capabilities in hematology oncology and long-term commitment as an investor make them an ideal partner at this exciting time in the development of our first-in-class drug candidate.”

Wei-Wu He, Ph.D., CASI’s Chairman and Chief Executive Officer, said: “Cleave’s novel approach to inhibiting VCP/p97 in hematological malignancies such as AML and MDS is supported by extensive preclinical research and early clinical data. CB-5339 represents a promising new agent for selectively targeting VCP/p97 in cancers and is a complementary addition to our growing portfolio of approved and investigational therapies for hematology oncology. We are thrilled to partner with Cleave as CB-5339 advances through clinical development.” 

About Cleave Therapeutics

Cleave Therapeutics is a clinical-stage biopharmaceutical company focused on VCP/p97 as a novel target in protein homeostasis and cellular stress pathways for therapeutic use in cancer. The privately held company, based in San Francisco, is studying CB-5339, its second-generation, small molecule VCP/p97 inhibitor, in a Phase 1 clinical trial in patients with acute myeloid leukemia and myelodysplastic syndrome, while the National Cancer Institute is sponsoring and evaluating CB-5339 in a Phase 1 clinical trial of patients with solid tumors and lymphomas. Cleave investors include 5AM Ventures, Bristol-Myers Squibb, Orbimed, U.S. Venture Partners (USVP), Arcus Ventures, Astellas Venture Management, and Osage University Partners. For additional information, visit www.cleavetherapeutics.com.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc. is a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products in China, the United States, and throughout the world. The Company is focused on acquiring, developing and commercializing products that augment its hematology oncology therapeutic focus as well as other areas of unmet medical need. The Company is executing its plan to become a biopharmaceutical leader in the greater China market by leveraging the Company’s China-based clinical, regulatory and commercial competencies and its global drug development expertise. The Company’s operations in China are conducted through its wholly-owned subsidiary, CASI Pharmaceuticals (China) Co., Ltd., which is located in Beijing, China. The Company has built a commercial team of more than 80 hematology and oncology sales and marketing specialists based in China. More information on CASI is available at www.casipharmaceuticals.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for expectations for future financial or business performance, revenue growth, strategies, expectations and goals. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and we assume no duty to update forward-looking statements. New factors emerge from time to time, and it is not possible for us to predict which factors will arise. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Actual results could differ materially from those currently anticipated due to a number of factors.

 

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SOURCE CASI Pharmaceuticals, Inc.

CHICAGO, March 8, 2021 /PRNewswire/ — DNP Select Income Fund Inc. (NYSE: DNP) (the “Fund”) today announced that the merger of Duff & Phelps Utility and Corporate Bond Trust Inc. (NYSE: DUC) with and into DNP has been completed. The combined fund retains DNP’s name and ticker symbol, as well as DNP’s investment objectives, strategies and policies.  This transaction was previously announced on November 23, 2020.  DUC shareholders approved the merger on February 22, 2021. 

DUC shares ceased trading on the NYSE at the close of business on Friday, March 5, 2021.  Prior to the opening of today’s trading session on the NYSE, each share of DUC common stock was converted into the number of shares of DNP common stock equal to the ratio of the net asset value (NAV) per share of DUC common stock to the NAV per share of DNP common stock at the close of business on the NYSE on Friday, March 5, 2021:  

Based on these closing NAVs, DUC shareholders received 1.055545 shares of DNP common stock for each share of DUC common stock they held.  DUC shareholders will receive cash in lieu of fractional shares of DNP common stock (unless the shares are held through a dividend reinvestment plan account that allows for fractional shares).

About the Fund

DNP Select Income Fund Inc. is a closed-end diversified investment management company advised by Duff & Phelps Investment Management Co.  The Fund’s primary investment objectives are current income and long-term growth of income. The Fund seeks to achieve these objectives by investing primarily in a diversified portfolio of equity and fixed income securities of companies in the public utilities industry. For more information, please visit www.dpimc.com/dnp or call (800) 864-0629.

About the Investment Adviser

Duff & Phelps Investment Management Co. has more than 40 years of experience managing investment portfolios, including institutional separate accounts and open- and closed-end funds investing in utilities, infrastructure and real estate investment trusts (REITs).  For more information, visit www.dpimc.com.

Duff & Phelps is a subsidiary of Virtus Investment Partners (NASDAQ: VRTS), a multi-boutique asset manager with approximately $132.2 billion under management as of December 31, 2020.  Virtus provides investment management products and services to individuals and institutions through a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand.  Additional information can be found at www.virtus.com.

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SOURCE DNP Select Income Fund Inc.; Duff & Phelps Utility and Corporate Bond Trust Inc.

SEATTLE, March 8, 2021 /PRNewswire/ — (NASDAQ: RDFN) — A homebuyer would lose $23,250 in spending power with a mortgage rate of 3.25% versus a 2.75% rate, where they were sitting earlier this year, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. At a 3.25% interest rate, a homebuyer can afford a $506,000 home for $2,500 per month, down from the $529,250 they could afford on the same budget with a 2.75% rate. To put it another way, the monthly payment on a $506,000 home would rise $110 with the higher mortgage rate, from $2,390 to $2,500.

Interest rates started to rise in mid-February after 30-year fixed mortgage rates reached a record low of 2.65% in the beginning of January, a continuation of five months of sub-3% rates as the Fed worked to stimulate the economy during the pandemic-driven recession. Partly as a result of record-low rates, home prices rose a near-record 14% year over year in January. The average mortgage rate hit 3.02% in the week ending March 4—the first time it has risen above 3% in seven months—and is likely to continue to increase, at least slightly, as the economy recovers.

Growth in the number of homes that have gone under contract has started to slow in recent weeks, but it’s too early to tell whether the trend is a result of winter storms, a shortage of homes for sale, or rising mortgage rates or whether the trend is likely to continue into spring or not.

“If the $1.9 trillion economic stimulus package that’s set to provide cash relief to Americans and get people back to work is successful, interest rates are likely to inch back up to pre-pandemic levels of about 3.5%. That would alter the dynamics of the housing market, though it wouldn’t necessarily put a damper on it,” said Redfin Chief Economist Daryl Fairweather. “The financial relief coming to families earning less than $150,000 will give more of them the desire and means to buy a home. That will result in more demand for affordable homes. That’s different from what we’re seeing now, which is a housing market driven by wealthy people purchasing relatively expensive homes. Higher mortgage rates will also make buyers more price conscious and less likely to bid 10% or more over asking, so we could see some of the intense competition slow down.”

Forty-four percent of respondents to a recent Redfin survey said mortgage rates rising above 3.5% would have no impact on their homebuying plans, while 10% would cancel their plans to buy a home.

“The small increase in mortgage rates has had zero impact on buyers so far,” said Seattle Redfin agent Ben Stanfield. “Rates are still historically low and they’re still keeping buyers in the market. Even though rates are creeping up, they’re not increasing nearly as quickly as home prices. If you can buy, it’s a good idea to buy now before homes become even more expensive.”

With a 3.25% interest rate, 68.4% of homes nationwide that were for sale any time between January 26 and February 25 were affordable on a $2,500 monthly budget. With a 2.75% rate, 70.1% of homes were affordable on that budget.

“Over the next few months, it will be important to keep an eye on inflation,” Fairweather said. “Inflation has the potential to change every aspect of homebuyers’ finances: It could change earnings, change budgets and change mortgage rates.”

Buyers have fewer options with a 3.25% interest rate in every metro—especially Denver, Sacramento and Riverside

With a 3.25% interest rate, 52.5% of homes for sale in Denverbetween January 26 and February 25 were affordable on a $2,500 monthly budget, versus 56.3% with a 2.75% rate. In Sacramento, 47% of homes for sale were affordable with a 3.25% rate, versus 50.6% with a 2.75% rate. The 3.7 percentage-point difference in each of those places is bigger than any other metro. Next comes Riverside, CA, with a 3.4 percentage-point difference (57.3% versus 60.7%).

Birmingham, Cleveland and Detroit each have just a 0.4 percentage-point difference in the share of homes affordable with the two different interest rates. In Birmingham, 87.3% of homes for sale were affordable on a $2,500 monthly budget with a 3.25% rate, just slightly fewer than 87.7% with a 2.75% rate. In Cleveland it’s 92% versus 92.4%, and in Detroit it’s 92.9% versus 93.3%.

 

To read the full report, including methodology and an interactive chart that shows how much a homebuyer can afford to spend at different mortgage interest rates, please visit: https://www.redfin.com/news/rising-mortgage-rates-decrease-purchasing-power

About Redfin
Redfin (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer’s favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country’s #1 nationwide brokerage website, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 95 markets in the United States and Canada. Since our launch in 2006, we have saved our customers nearly $1 billion and we’ve helped them buy or sell more than 310,000 homes worth more than $152 billion.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email [email protected]. To view Redfin’s press center, click here.

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SOURCE Redfin

DENVER, March 8, 2021 /PRNewswire/ — Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) announced today that it has sold 2,811 acres across eight farms to Promised Land Opportunity Zone Farms I, LLC (“OZ Fund”). The total purchase price was $18.3 million. FPI repaid $7.8 million of debt, received $8.5 million of cash proceeds, and received $2.0 million in a convertible note. In January 2021, FPI announced its partnership with the OZ Fund, a private investment vehicle focused on acquiring and improving farmland in qualified opportunity zones in the United States, as designated under U.S. tax provisions enacted in 2017. 

“We are pleased to close the first transaction with the OZ Fund and look forward to scaling FPI’s asset management capabilities,” stated Paul Pittman, FPI’s Chairman and CEO. “With strong commodity prices projected for 2021, we believe the outlook for farmers is very favorable.”

About Farmland Partners Inc.

Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns approximately 152,000 acres in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota and Virginia. We have approximately 26 crop types and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Additional information: www.farmlandpartners.com or (720) 452-3100.

About Servant Financial

Servant Financial, Ltd. is a Chicago-based investment management firm founded in 2003. The firm serves the diverse investment, risk management, and finance needs of individuals, high net worth clients and family offices. Servant Financial focuses on alternative investments – private equity and hedge funds, ETFs, and socially responsible investments. Additional information: www.servantfinancial.com or (630) 264-0127.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the federal securities laws, including, without limitation, statements concerning the transaction, the anticipated timeline for closing, the Company’s ability to sell additional properties to the OZ Fund, the anticipated gross proceeds from the sales to the OZ Fund, the anticipated managements fees to be received by FPI, and the ability of the OZ Fund to acquire additional farmland properties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” or similar expressions or their negatives, as well as statements in future tense. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and our actual results could differ materially from those set forth in the forward-looking statements. Some factors that might cause such a difference include the ability to consummate the transaction described above, satisfaction of qualified opportunity zone regulations as determined by OZ Fund third-party advisors, and the general economic conditions. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

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SOURCE Farmland Partners Inc.

SAN JOSE, Calif., March 8, 2021 /PRNewswire/ —

Highlights:

• FICO was recognized as the Category Leader for Enterprise Fraud Solutions in ‘Financial Crime Risk Management Systems: Enterprise Fraud; Market Update and Vendor Landscape, 2021’
• FICO was rated highly for its “best-in-class capabilities” in advanced fraud detection and card fraud
• FICO has now been named a Category Leader by Chartis three years in a row

Global analytics software provider FICO, today announced that it has been named the Category Leader for Enterprise Fraud Solutions in the Chartis 2021 RiskTech Quadrant^® report, for the third year in a row. The report ranks the financial services industry’s leading financial crime risk management systems based on Chartis’ analysis of market trends, expenditure patterns and best practices, which is validated through several phases of independent verification. FICO was recognized for both market potential and completeness of solution offering.

For more information, read the full Chartis report.

“FICO’s ranking as Category Leader reflects its best-in-class enterprise fraud management solutions, which had the highest possible ratings for advanced fraud detection techniques, libraries of pre-packaged fraud rules, and card fraud,” said Phil Mackenzie, senior research specialist at Chartis Research. “FICO also delivers advanced fraud-detection capabilities in mobile fraud, electronic payments fraud, and real-time transaction monitoring, via an integrated cloud-ready platform.”

FICO’s fraud solutions protect more than 9000 financial institutions, telecommunication organizations, auto financers, and government agencies from financial losses as well as damages caused by criminal behavior. Since the onset of the COVID-19 pandemic, more enterprises are relying on FICO’s industry-changing analytics software platform to make smarter decisions, streamline operations, and protect organizations against the latest fraud and financial crime threats.

“FICO is proud to have its cutting-edge solutions recognized by Chartis as the category leader in financial crime risk management systems,” said Tim Van Tassel, vice president, product management. “At FICO, we are committed to helping our clients use our award-winning solutions to prevent fraudulent activity as well as developing an industry leading AI, machine learning, and analytics platform.”

Published annually, Chartis’ RiskTech Quadrant® reports are prepared by analysts with extensive hands-on experience of selecting, developing, and implementing risk management systems for a variety of international companies across multiple industries including banking, insurance, capital markets, energy, and the public sector.

“Recognition as the category leader for three years in a row further highlights FICO’s ongoing investment in innovation, our close partnership with clients and our dedication to delivering the industry standard for enterprise fraud solutions,” said Nikhil Behl, chief marketing officer, at FICO.

For more information, download the complete Chartis report on Financial Crime Risk Management Systems: Enterprise Fraud.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 U.S. and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at https://www.fico.com.

Join the conversation at https://twitter.com/fico & https://www.fico.com/en/blogs/

For FICO news and media resources, visit www.fico.com/news.

FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.

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SOURCE FICO

FREMONT, Calif. and WALTHAM, Mass., March 8, 2021 /PRNewswire/ — Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company focused on developing innovative first-in-class medicines to improve treatment for people with kidney and cardiorenal diseases, today reported business highlights and financial results for the fourth quarter and full year ended December 31, 2020.

“The stage is set for an exciting year for Ardelyx in 2021” said Mike Raab, president and chief executive officer at Ardelyx. “With our PDUFA date of April 29 rapidly approaching, we are well positioned and well prepared to commercialize tenapanor upon potential FDA approval of the first and only phosphate absorption inhibitor for the control of serum phosphorus. In addition, we continue to make great progress in developing our pipeline of novel therapeutics and in building the organization for success. Our dedication and hard work over the years, particularly in 2020, have led to major advances in our development pipeline that we believe will offer differentiated benefits to patients.”

Key Recent and 2020 Accomplishments:

• Submitted a New Drug Application (NDA) for tenapanor for the control of serum phosphorus in adult patients with chronic kidney disease (CKD) on dialysis and received acceptance from FDA and a Prescription Drug User Fee Act (PDUFA) date of April 29, 2021.

• Increased education and visibility on clinical data for tenapanor with:

• Five posters at ASN Kidney Week 2020, three of which covered the company’s AMPLIFY, PHREEDOM, and BLOCK Phase 3 clinical trial results, with the other two posters highlighting data from Phase 2 clinical trials evaluating the efficacy and safety of tenapanor in patients on hemodialysis conducted by the company’s partner for tenapanor in Japan, Kyowa Kirin Co., Ltd (KKC).

• Data analysis reported in June 2020 from ongoing NORMALIZE 18-month extension study showing that the use of tenapanor alone or in combination with sevelamer carbonate produced a significant phosphorus-lowering effect, with up to 47.4% of the 171 patients in the interim analysis achieving a normal serum phosphorus level, and of those, the majority were on tenapanor alone or tenapanor with low dose sevelamer of three or fewer sevelamer tablets per day. 

• Ardelyx’s collaboration partner in Japan, KKC, presented data at the European Renal Association-European Dialysis and Transplant Association annual meeting (ERA-EDTA 2020) from a Phase 2 study designed to evaluate if patients with hyperphosphatemia undergoing hemodialysis, who were switched to tenapanor, could achieve at least a 30% decrease in mean pill burden while maintaining their serum phosphorus level. The results demonstrated that tenapanor enabled a significant reduction in overall pill burden (mean reduction in phosphate binder pill usage by 80%), while maintaining serum phosphorus levels (mean serum phosphorus levels 5.2 mg/dL at baseline and 4.7 mg/dL at week 26). 

• Presented safety and pharmacodynamics data from a Phase 1 clinical study with RDX013, noting that the results of the Phase 1 clinical study support the Company’s decision to advance RDX013 to a Phase 2 clinical study in 2021.

• Enhanced commercial capabilities and market readiness with hiring of market access, patient services, marketing, and sales leadership teams.

• Strengthened leadership team with key appointments of Chief Commercial Officer, Susan Rodriguez, Chief Financial Officer, Justin Renz and Senior Vice President, Global Therapeutic Strategies and Patient Advocacy, Laura Williams.

• In October 2020, launched “Can We Do Better?” Disease Awareness Campaign highlighting significant challenges in current management of hyperphosphatemia, new mechanistic understanding of phosphate absorption, and Ardelyx’s commitment to advancing patient care.

• In November 2020, hosted a virtual analyst day featuring German Hernandez, M.D., FASN, FACP, associate nephrologist at El Paso Kidney Specialists and clinical associate professor of medicine at Texas Tech University Health Sciences Center; Jennifer Robinson, president of Spherix Global Insights; and Douglas Paul, PharmD, Ph.D., vice president and partner at MME. The event focused on the company’s proposed launch and commercialization plans in anticipation of the potential approval of tenapanor for the control of serum phosphorus in adult patients with CKD on dialysis. Additionally, the company reviewed its pipeline, including RDX013 for hyperkalemia and RDX020 for metabolic acidosis.

• From November 2020 through February 2021, Ardelyx sold 8,198,217 shares of common stock under its At-the-Market Facility with Jefferies LLC for gross proceeds before commissions of $56.7 million, which includes approximately $21.7 million in gross proceeds in the fourth quarter 2020.

Full Year 2020 Financial Results

• Cash Position: As of December 31, 2020, Ardelyx had total capital resources including cash and investments of $188.6 million compared to $247.5 million as of December 31, 2019. 

• Revenue and Cost of Revenue: Total revenues were $7.6 million for the year ended December 31, 2020 related to the company’s ex-U.S. collaboration partnerships, and cost of revenues was $0.1 million related to payments due to AstraZeneca in accordance with the company’s termination agreement entered into with AstraZeneca in June 2015 compared to total revenues of $5.3 million and cost of revenues of $0.6 million for the year ended December 31, 2019.

  R&D Expenses: Research and development expenses were $65.1 million for the year ended December 31, 2020, a decrease of $6.6 million, or 9%, compared to $71.7 million for the year ended December 31, 2019. The decrease in R&D expenses was primarily related to the winding down of expenses associated with our Phase 3 clinical program for tenapanor for the control of hyperphosphatemia, partially offset by higher expenses attributable to research expenses associated with our research collaboration and option agreement entered into with KKC in 2019.

  G&A Expenses: General and administrative expenses were $33.2 million for the year ended December 31, 2020, an increase of $8.9 million, or 37%, compared to $24.3 million for the year ended December 31, 2019. The increase was primarily due to an increase in costs associated with building and staffing our commercial infrastructure and teams as we prepare for the anticipated U.S. launch of tenapanor for the control of serum phosphorus in CKD patients on dialysis. The increase consisted of headcount and related personnel costs and an increase in external spending for disease awareness initiatives, commercial infrastructure and strategy.

• Net Loss: Net loss for the year ended December 31, 2020, was $94.3 million compared to a net loss of $94.9 million for the year ended December 31, 2019.

Financial Guidance

Ardelyx expects that its cash, cash equivalents and investments will be sufficient to fund the company’s operations into the second half of 2022 based on its current operating plans.

About Ardelyx, Inc.

Ardelyx is focused on discovering, developing and commercializing innovative first-in-class medicines to enhance the lives of patients with kidney and cardiorenal diseases. Ardelyx is advancing tenapanor, a novel product candidate to control serum phosphorus in adult patients with CKD on dialysis, for which the company’s NDA is currently under review by the FDA, with a PDUFA date of April 29, 2021. Ardelyx is also advancing RDX013, a potassium secretagogue, for the potential treatment of elevated serum potassium, or hyperkalemia, a problem among certain patients with kidney and/or heart disease and has an early-stage program in metabolic acidosis, a serious electrolyte disorder in patients with CKD. In addition, Ardelyx received FDA approval of IBSRELA^® (tenapanor) on September 12, 2019. Ardelyx has established agreements with Kyowa Kirin in Japan, Fosun Pharma in China and Knight Therapeutics in Canada for the development and commercialization of tenapanor in their respective territories.

Forward Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Ardelyx, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Reform Act of 1995, including statements regarding the potential for tenapanor to be approved for marketing by the FDA for the control of serum phosphorus in chronic kidney disease patients on dialysis, the potential for the use of tenapanor as monotherapy and as part of a dual mechanism approach with tenapanor and phosphate binders for such indication, the potential for tenapanor alone or with small doses of phosphate binders to achieve normal serum phosphorus levels, Ardelyx’s expected timing of the review of its NDA for tenapanor for the control of serum phosphorus, and Ardelyx’s expectations regarding the exhaustion of its current capital resources. Such forward-looking statements involve substantial risks and uncertainties that could cause Ardelyx’s 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 associated with the regulatory approval process and uncertainties in the drug commercialization process. Ardelyx 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 Ardelyx’s business in general, please refer to Ardelyx’s Annual Report on Form 10-K to be filed with the Securities and Exchange Commission on March 8, 2021, and its future current and periodic reports to be filed with the Securities and Exchange Commission.

 

 

 

 

 

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SOURCE Ardelyx

BRISTOL, Tenn., March 8, 2021 /PRNewswire/ — Alpha Metallurgical Resources, Inc., (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, plans to announce its fourth quarter 2020 financial results before the market opens on Monday, March 15, 2021.

The company also expects to hold a conference call to discuss its fourth quarter 2020 results at 10:00 a.m. Eastern time the morning of March 15. Participating on the call will be Alpha’s chairman and chief executive officer, David Stetson, president and chief financial officer, Andy Eidson, and executive vice president and chief operating officer, Jason Whitehead.

The conference call will be available live on the investor section of the company’s website at https://investors.alphametresources.com/investors. Analysts who would like to participate in the conference call should dial 866-270-1533 (domestic toll-free) or 412-317-0797 (international) approximately 15 minutes prior to the start of the call.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources (NYSE: AMR) is a Tennessee-based mining company with operations across Virginia and West Virginia. With customers across the globe, high-quality reserves and significant port capacity, Alpha reliably supplies metallurgical products to the steel industry. For more information, visit www.AlphaMetResources.com. 

Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements are based on Alpha’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Alpha’s control. Forward-looking statements in this press release or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Alpha to predict these events or how they may affect Alpha. Except as required by law, Alpha has no duty to, and does not intend to, update or revise the forward-looking statements in this press release or elsewhere after the date this release is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this press release may not occur.

 

 

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SOURCE Alpha Metallurgical Resources, Inc.

NEWPORT, R.I., March 8, 2021 /PRNewswire/ — Pangaea Logistics Solutions Ltd. (“Pangaea” or the “Company”) (NASDAQ: PANL), a global provider of comprehensive maritime logistics solutions, today announced that it will host a teleconference to discuss the Company’s fourth quarter 2020 financial results, including a question and answer session with management at 8:00 a.m. ET on Tuesday, March 16, 2021. Pangaea will release its fourth quarter financial results after market hours on Monday, March 15, 2021 along with an accompanying presentation that will be available with our Securities and Exchange Commission filing.

To access the teleconference, please dial 888-895-3561 (domestic) or 904-685-6494 (international) approximately ten minutes before the teleconference’s scheduled start time and reference ID# 5197869.

A recording of the call will also be available for two weeks following the teleconference and will be accessible by calling 800-585-8367 (domestic) or 404-537-3406 (international) and referencing ID# 5197869.

About Pangaea Logistics Solutions Ltd.

Pangaea Logistics Solutions Ltd. provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The Company addresses the transportation needs of its customers with a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, and voyage planning.  Learn more at www.pangaeals.com.

Contacts

Investor Relations Contacts
Tiya Gulanikar
Prosek Partners
646-818-9288
[email protected] 

Gianni Del Signore

Pangaea Logistics Solutions Ltd.
401-846-7790
[email protected]

 

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SOURCE Pangaea Logistics Solutions Ltd.

BEVERLY, Mass., March 8, 2021 /PRNewswire/ — Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of innovative, high-productivity solutions for the semiconductor industry, announced today that it has shipped the first Purion H200 SiC Power Series™ implanter.  The new Purion H200 product line extension, featuring innovative silicon carbide capability, shipped to a leading power device manufacturer to support a production ramp for SiC power devices.  The system shipped in the first quarter.

President and CEO Mary Puma commented, “Axcelis is committed to delivering the best in class solutions that support the global adoption of EV and smart grid technology, which is projected to increase significantly over the next decade. The power device market continues to be one of the fastest growing segments in IC manufacturing, and represents a meaningful revenue opportunity for Axcelis. In 2020 the power device segment accounted for over 17% of our systems sales, and we expect continued growth in this segment.”

Executive Vice President of Product Development, Bill Bintz, added, “Building on our expertise in silicon carbide and leadership in this space, the Purion H200 SiC was designed in collaboration with leading customers in the power market. This new product further enhances our Power Series product family. Axcelis is the only company to offer a full suite of implanters with enabling technology to specifically address the unique needs of emerging power device applications. The shipment marks the start of a new era in cost effective high volume manufacturing of SiC power devices that are enabling the rapid transition of the automobile industry towards electric vehicles.”

The Purion H200

The Purion H200 is the first and only single wafer high current implanter designed to cover all high dose implant applications from energies as low as 5keV to a maximum of 200keV, and is especially suited to foundry and power device manufacturers’ needs. Built upon the industry-proven Purion H high current beamline with its unique scanned spot beam architecture, the Purion H200 delivers the productivity of high current tools with the precision and accuracy of medium current implanters.

Purion Power Series™

The Company’s Purion Power Series was designed to meet the growing market demand for the power device market. The Purion Power Series was developed with enabling technology to specifically address the unique needs of emerging power device applications.  This includes the flexibility to handle multiple wafer sizes from 150mm to 300mm as well as various substrates including Si and SiC, along with its precision wafer temperature control technology, all accomplished while delivering the industry’s highest throughput and capital efficiency. The product line includes the Purion M Power Series™ for medium current, the Purion H Power Series™ and Purion H200 Power Series™ for high current and the Purion XE Power Series™ for high energy.

About Axcelis:

Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 40 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. Learn more about Axcelis at www.axcelis.com.

CONTACTS:

Maureen Hart (editorial/media) 978.787.4266
Doug Lawson (investor relations) 978.787.9552

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SOURCE Axcelis Technologies, Inc.