Market Newsdesk

ROCHESTER, N.Y., Jan. 13, 2021 (GLOBE NEWSWIRE) — Monro, Inc. (Nasdaq: MNRO), a leading provider of automotive undercar repair and tire services, will release its fiscal 2021 third quarter earnings on January 27, 2021. The Company will host a conference call and audio webcast on Wednesday, January 27, 2021 at 8:30 a.m. Eastern Time.

The conference call may be accessed by dialing 1-877-425-9470 and using the required passcode 13715011. A replay will be available approximately two hours after the recording through Wednesday, February 10, 2021 and can be accessed by dialing 1-844-512-2921 and using the required passcode of 13715011. The live conference call and replay can also be accessed via audio webcast at the Investors section of the Company’s website, located at corporate.monro.com. An archive will be available at this website through February 10, 2021.

About Monro, Inc.

Headquartered in Rochester, New York, Monro is a chain of 1,259 company-operated stores, 96 franchised locations, seven wholesale locations and three retread facilities providing automotive undercar repair and tire sales and services. The Company operates in 32 states, serving the MidAtlantic and New England regions and portions of the Great Lakes, Midwest, Southeast and Western United States. The predecessor to the Company was founded by Charles J. August in 1957 as a Midas Muffler franchise. In 1966, Monro began to diversify into a full line of undercar repair services. The Company has experienced significant growth in recent years through acquisitions and, to a lesser extent, the opening of newly constructed stores. The Company went public in 1991 and trades on The Nasdaq Stock Market under the symbol MNRO.

CONTACT:	Kim Rudd / Tabatha Santiago
	Executive Assistant
	(585) 784-3324
	Investors and Media: Melanie Dambre / Jamie Baird
	FTI Consulting
	(212) 850-5600

SOUTH SAN FRANCISCO, Calif., Jan. 13, 2021 (GLOBE NEWSWIRE) — Cytokinetics, Inc. (Nasdaq: CYTK) today announced that the first patient has been dosed in Cohort 2 of REDWOOD-HCM (Randomized Evaluation of Dosing With CK-274 in Obstructive Outflow Disease in HCM), an ongoing Phase 2 clinical trial of CK-3773274 (CK-274), a next-generation cardiac myosin inhibitor in development for the potential treatment of hypertrophic cardiomyopathy (HCM). This event triggers a $2.5 million milestone payment payable from Ji Xing Pharmaceuticals Limited to Cytokinetics under the License and Collaboration Agreement between the companies.

REDWOOD-HCM: Clinical Trial Design

REDWOOD-HCM is a multi-center, randomized, placebo-controlled, double-blind, dose finding clinical trial of CK-274 in patients with symptomatic obstructive HCM (oHCM). The primary objective of the trial is to determine the safety and tolerability of CK-274. The secondary objectives are to describe the concentration-response relationship of CK-274 on the resting and post-Valsalva left ventricular outflow tract gradient as measured by echocardiography during 10 weeks of treatment, to describe the dose response relationship of CK-274, and to evaluate the plasma concentrations of CK-274 in patients with oHCM.

The trial will enroll two sequential cohorts, with an option for a third cohort. Within each cohort, approximately 18 patients will be randomized 2:1 to active or placebo treatment and receive up to three escalating doses of CK-274 or placebo based on echocardiographic guidance. Patients receive an echocardiogram after two weeks of treatment at each dose to determine whether they will be up-titrated. Overall, the treatment duration will be 10 weeks with an echocardiogram to confirm reversibility of effect 2-weeks after the last dose. REDWOOD-HCM is expected to enroll patients in approximately 20 investigative sites in North America and Europe.

Interim analysis of data from Cohort 1 of REDWOOD-HCM showed patients experienced substantial reductions in the average resting left ventricular outflow tract gradient (LVOT-G) as well as the post-Valsalva LVOT-G (defined as resting gradient <30 mmHg and post-Valsalva gradient <50 mmHg). These clinically relevant decreases in pressure gradients were achieved with only modest decreases in average left ventricular ejection fraction (LVEF); there were no dose interruptions due to LVEF falling below 50%, the prespecified safety threshold. Pharmacokinetic data were similar to those observed in Phase 1 in healthy subjects. In addition, the safety and tolerability data were supportive of continued dose escalation with no serious adverse events attributed to study treatment reported by the investigators.

The second cohort of REDWOOD-HCM is open for enrollment in centers in North America and Europe. Enrollment in Cohort 2 of REDWOOD-HCM is expected to complete in Q1 2021 and full results from REDWOOD-HCM, across both Cohort 1 and Cohort 2, are expected in mid-2021.

Additional information about REDWOOD-HCM can be found on www.clinicaltrials.gov.

About Hypertrophic Cardiomyopathy

Hypertrophic cardiomyopathy (HCM) is a disease in which the heart muscle (myocardium) becomes abnormally thick (hypertrophied). The thickening of cardiac muscle leads to the inside of the left ventricle becoming smaller and stiffer, and thus the ventricle becomes less able to relax and fill with blood. This ultimately limits the heart’s pumping function, resulting in symptoms including chest pain, dizziness, shortness of breath, or fainting during physical activity. A subset of patients with HCM are at high risk of progressive disease which can lead to atrial fibrillation, stroke and death due to arrhythmias. There are no FDA approved medical treatments that directly address the hypercontractility that underlies HCM.

About Cytokinetics

Cytokinetics is a late-stage biopharmaceutical company focused on discovering, developing and commercializing first-in-class muscle activators and next-in-class muscle inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. As a leader in muscle biology and the mechanics of muscle performance, the company is developing small molecule drug candidates specifically engineered to impact muscle function and contractility. Cytokinetics is preparing for regulatory interactions for omecamtiv mecarbil, its novel cardiac muscle activator, following positive results from GALACTIC-HF, a large, international Phase 3 clinical trial in patients with heart failure. Cytokinetics is conducting METEORIC-HF, a second Phase 3 clinical trial of omecamtiv mecarbil. Cytokinetics is also developing CK-274, a next-generation cardiac myosin inhibitor, for the potential treatment of hypertrophic cardiomyopathies (HCM). Cytokinetics is conducting REDWOOD-HCM, a Phase 2 clinical trial of CK-274 in patients with obstructive HCM. Cytokinetics is also developing reldesemtiv, a fast skeletal muscle troponin activator for the potential treatment of ALS and other neuromuscular indications following conduct of FORTITUDE-ALS and other Phase 2 clinical trials. The company is preparing for the potential advancement of reldesemtiv to a Phase 3 clinical trial. Cytokinetics continues its over 20-year history of pioneering innovation in muscle biology and related pharmacology focused to diseases of muscle dysfunction and conditions of muscle weakness.

For additional information about Cytokinetics, visit www.cytokinetics.com and follow us on Twitter, LinkedIn, Facebook and YouTube.

About Ji Xing Pharmaceuticals

Backed by RTW Investments, Ji Xing is a privately held, leading Shanghai-based biotechnology company committed to bringing innovative science and medicines to underserved Chinese patients with serious and life-threatening diseases.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). Cytokinetics disclaims any intent or obligation to update these forward-looking statements and claims the protection of the Act’s Safe Harbor for forward-looking statements. Examples of such statements include, but are not limited to, statements relating to the timing, design and results of Cytokinetics’ Phase 2 clinical trial of CK-274; the potential benefits of CK-274; the ability to complete enrollment of Cohort 2 of REDWOOD-HCM in [the first quarter of] 2021 and the impact of the COVID-19 pandemic on such enrollment (for further information regarding the historical and potential prospective impact of the COVID-19 pandemic on our business operations and clinical trials, please refer to Cytokinetics’ Form 10-Q for the quarterly period ended September 30, 2020); Cytokinetics’ and its partners’ research and development activities; the timing of enrollment of patients in Cytokinetics’ and its partners’ clinical trials; the design, timing, results, significance and utility of preclinical and clinical results; and the properties and potential benefits of Cytokinetics’ drug candidates. Such statements are based on management’s current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to, potential difficulties or delays in the development, testing, regulatory approvals for trial commencement, progression or product sale or manufacturing, or production of Cytokinetics’ drug candidates that could slow or prevent clinical development or product approval; patient enrollment for or conduct of clinical trials may be difficult or delayed; Cytokinetics’ drug candidates may have adverse side effects or inadequate therapeutic efficacy; the FDA or foreign regulatory agencies may delay or limit Cytokinetics’ or its partners’ ability to conduct clinical trials; Cytokinetics may be unable to obtain or maintain patent or trade secret protection for its intellectual property; Cytokinetics’ partners decisions with respect to research and development activities; standards of care may change, rendering Cytokinetics’ drug candidates obsolete; competitive products or alternative therapies may be developed by others for the treatment of indications Cytokinetics’ drug candidates and potential drug candidates may target; and risks and uncertainties relating to the timing and receipt of payments from its partners, including milestones and royalties on future potential product sales under Cytokinetics’ collaboration agreements with such partners. For further information regarding these and other risks related to Cytokinetics’ business, investors should consult Cytokinetics’ filings with the Securities and Exchange Commission.

Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Communications, Investor Relations
(415) 290-7757

• 50m Step-out drill holes encounter strong mineralization to expand the wireframe model yet leave the mineralization open to the South and East
• High-grade Copper intersections include 4.20m @ 3.59% CuEq and 10.50m @ 3.61% and Copper Bonanza intervals of 1.00m @ 14.21% CuEq and
  1.40m @ 9.86% CuEq
  .

TORONTO, Jan. 13, 2021 (GLOBE NEWSWIRE) — Ascendant Resources Inc. (TSX: ASND) (“Ascendant” or the “Company”) is pleased to announce results from the first three drill holes from its on-going drill program on the South Zone at its Lagoa Salgada Project on the Iberian Pyrite Belt in Portugal. The Company remains focused on expanding the known mineralization of the copper-rich stockwork mineralization associated with the South Zone. The Company has already published a robust PEA based upon an existing 10MT M&I Resource Estimate in the North Zone (See the Company’s press release of January 14, 2020).

Highlights Include:

• LS_ST_22b: 25.2m true width grading 2.23% CuEq (0.64% Cu, 1.99% Zn, 1.42% Pb, and 26.47g Ag/t) including 10.50m true width grading 3.61% CuEq (0.84% Cu, 3.39% Zn, 2.77% Pb and 42.30g Ag/t)
• LS_ST_23: 8.4m true width grading 2.24% CuEq (1.18% Cu, 0.46% Zn, 0.77% Pb, and 27.83g Ag/t)
• LS_ST_21b: 7.7m true width grading 2.13% CuEq (0.33% Cu, 3.09% Zn, 1.31% Pb, and 14.00g Ag/t) and 4.20m true width grading 3.59% CuEq (0.42% Cu, 3.38% Zn, 1.91% Pb, and 23.11g Ag/t)
  

The intersection of numerous high-grade intervals in the first three drill holes of this 7-hole program in stockwork mineralization has been highly encouraging. Firstly, the discovery of high-grade copper within intervals is a positive indication. In hole LS_ST_21, the drilling encountered mineralization earlier than planned and intersected a gossan which is indicative of nearby massive sulphide mineralization. LS_ST_23 drill hole is a 50m SE step-out from the 2018 southern most historical drill hole LS_ST_11 which at the time was the best hole in the South Zone to date. LS_ST_23 confirms the South extension of the known Stockwork South Zone and intercepted multiple mineralized zones including a high-grade copper interval of 6.00m @ 3.74% CuEq, from 163.00m. Also, LS_ST_23 intersected what can be considered a copper Bonanza interval of 1.00m @ 14.21% CuEq (9.11% Cu).

Drill hole LS_ST_22 is a 50m ESE step-out also from LS_ST_11 which means that further to the East, the South Zone continues to expand with high-grade intervals. The intense gossanization intercepted immediately after the Tertiary cover, and not yet at the Fissural mineralization, indicates that Massive Sulphide mineralization should be nearby, as the Fissural ore does not produce such intense gossan “caps” or leaching layers as seen from 161.90-164.80m.

Follow-up drilling is planned for Q1 2021 to better define this high-grade copper zonation on the Lagoa Salgada South Zone Resource and in particular the LS_ST_23 drill hole defined by 5 main corridors of high-grade, strong stockwork mineralization.

Chris Buncic, President & CEO of Ascendant stated, “The results from the first three holes of our drill program in the South Zone confirms our thesis that it is copper rich, with intensity improving as we move south and east. We are excited to continue our exploration activities in the South Zone where the results continue to expand the extent of the mineralization. This bodes very well for Ascendant finding more stockwork mineralization and demonstrating that this project has the potential to be yet another future large producer on the belt, comparable with Neves Corvo and Aguas Tenidas. We hope that future rounds of drilling to grow the Mineral Resource, will achieve our expectation.”

The exploration program in the South Zone is intended to expand and upgrade the stockwork resources. This program builds upon the resources already outlined in earlier Technical Reports in 2019. The results highlighted in the table below will help Ascendant to expand the wireframes even further. Commodity prices have improved considerably since previous analysis was performed. An expansion of the South Zone Mineral Resource should be accretive to the overall size of the Lagoa Salgada resource estimate, warranting further analysis of the scale and scope of potential future mining operations.

Drill hole location and results are shown in Table 1 and 2 respectively below.

Table 1: Drill hole information for South Zone, Lagoa Salgada Project

Lagoa Salgada South Zone
	WGS84
ID	E	N	Az.(º)	Dip .(º)	Elevation	Final Depth (m)
LS_ST_21b	547362	4231148	240	-60	92	352.60
LS_ST_22b	547430	4231183	240	-60	92	473.40
LS_ST_23	547426	4231137	240	-60	92	458.00

Table 2: Significant Drill Hole Results for South Zone, Lagoa Salgada Project

South Zone Significant Drilling Results
DDH		From	To	Width	TRUE	Cu (%)	Zn (%)	Pb (%)	Ag (g/t)	Au (g/t)	Sn (%)	CuEq* (%)
		(m)	(m)	(m)	Width (m)
LS_ST_21b
	Composite	215.00	226.00	11.00	7.70	0.33	3.09	1.31	14.00	0.04	0.03	2.13
	including	215.00	220.00	5.00	3.50	0.62	5.67	2.27	24.80	0.05	0.04	3.81
	and	278.00	284.00	6.00	4.20	0.42	3.38	1.91	23.11	0.06	0.03	3.59
LS_ST_22b
	Composite	214.00	216.00	2.00	1.40	1.42	1.43	0.42	49.00	0.65	0.03	3.16
	and	239.00	275.00	36.00	25.20	0.64	1.99	1.42	26.47	0.09	0.03	2.23
	including	245.00	260.00	15.00	10.50	0.84	3.39	2.77	42.30	0.13	0.04	3.61
	and	287.00	290.00	3.00	2.10	0.76	2.04	1.03	17.00	0.10	0.03	2.18
	and	298.00	307.00	9.00	6.30	0.38	3.98	2.03	20.11	0.14	0.03	2.86
	including	303.00	305.00	2.00	1.40	1.41	14.13	6.67	68.50	0.39	0.06	9.86
LS_ST_23
	Composite	162.00	174.00	12.00	8.40	1.18	0.46	0.77	27.83	0.11	0.10	2.24
	including	167.00	168.00	1.00	0.70	9.11	0.19	3.21	275.00	0.31	0.38	14.27
	and	192.00	205.00	13.00	9.10	0.24	1.74	1.24	11.58	0.05	0.04	1.56
	and	214.00	220.00	6.00	4.20	0.37	2.35	1.69	17.50	0.07	0.02	2.04
	and	237.00	241.00	4.00	2.80	0.35	2.10	0.97	14.00	0.10	0.03	1.72

*CuEq% = ((Zn Grade*24.25) +(Pb Grade*20.94) +(Cu Grade * 66.14) +(Au Grade*53. 05)+(Ag Grade*0. 64)+ (Sn Grade * 202,77))/ 66. 14

Quality Assurance and Quality Control

Analytical work was carried out by ALS Laboratories. Drill core samples were prepared in the ALS Lab, in Seville, Spain. Pulp samples were then sent to their analytical Laboratory in Ireland for analysis. The core samples are analyzed for gold (ppm) by fire assay (Au‐AA25), and for the other elements by multi element analysis of base metal ores and mill products by optical emission spectrometry using the Varian Vista inductively coupled plasma spectrometer (ME-ICPORE). Samples from the South Zone, LS_ST_DH ID, are also assayed for Tin (Sn) by ICP-AES after Sodium Peroxide Fusion (Sn-ICP81x).

ALS Laboratories has routine quality control procedures which ensure that every batch of samples includes three sample repeats, two commercial standards and blanks. ALS Laboratories is independent from Ascendant. Ascendant used standard QA/QC procedures when inserting reference standards and blanks for the drilling program.

Technical Disclosure/Qualified Person

All technical information contained herein has been reviewed and approved by Robert A. Campbell, M.Sc, P.Geo, an officer and director of the Company. Mr. Campbell is a “qualified person” within the meaning of NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

About Ascendant Resources Inc.

Ascendant Resources Inc. is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. Through focused exploration and aggressive development plans, the Company aims to unlock the inherent potential of the project, maximizing value creation for shareholders.

Lagoa Salgada contains over 12.8 million tonnes of M&I Resources and over 10.3 million tonnes in Inferred Resources and demonstrates typical mineralization characteristics of Iberian Pyrite Belt VMS deposits containing zinc, copper, lead, tin, silver and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 10,700ha property concession. The project also demonstrates compelling economics with scalability for future resource growth in the results of the Preliminary Economic Assessment completed in 2020. Located just 80km from Lisbon, Lagoa Salgada is easily accessible by road and surrounded by exceptional Infrastructure. Ascendant holds a 21.25% interest in the Lagoa Salgada project through its 25% position in Redcorp – Empreendimentos Mineiros, Lda, (“Redcorp”) and has an earn-in opportunity to increase its interest in the project to 80%. Mineral & Financial Investments Limited owns the additional 75% of Redcorp. The remaining 15% of the project is held by Empresa de Desenvolvimento Mineiro, S.A. (EDM), a Portuguese Government owned company supporting the strategic development of the country’s mining sector. The Company’s interest in the Lagoa Salgada project offers a low-cost entry to a potentially significant exploration and development opportunity, already demonstrating its mineable scale.

Ascendant Resources is also engaged in the ongoing evaluation of producing and development stage mineral resource opportunities. The Corporation’s common shares are principally listed on the Toronto Stock Exchange under the symbol “ASND”. For more information on Ascendant Resources, please visit our website at www.ascendantresources.com.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Katherine Pryde
Communications & Investor Relations
Tel: 888-723-7413
[email protected]

Forward Looking Information

This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “guidance”, “scheduled”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “objective”, “goal”, “understands”, “anticipates” and “believes” (and variations of these or similar words) and statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” “occur” or “be achieved” or “will be taken” (and variations of these or similar expressions). Forward-looking information is also identifiable in statements of currently occurring matters which may continue in the future, such as “providing the Company with”, “is currently”, “allows/allowing for”, “will advance” or “continues to” or other statements that may be stated in the present tense with future implications. All of the forward-looking information in this news release is qualified by this cautionary note.

Forward-looking information in this news release includes, but is not limited to, statements regarding the exploration activities and the results of such activities at the Lagoa Salgada Project, the ability of the Company to advance the Lagoa Salgada Project to a Preliminary Economic Assessment, and the ability of the Company to fund the exploration activities. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Ascendant at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Ascendant identified and were applied by Ascendant in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to, the success of the exploration activities at Lagoa Salgada Project, the Company advancing the project to a Preliminary Economic Assessment, the ability of the Company to fund the exploration program at Lagoa Salgada, and other events that may affect Ascendant’s ability to develop its project; and no significant and continuing adverse changes in general economic conditions or conditions in the financial markets.

The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy prices and general cost escalation), uncertainties related to the development and operation of Ascendant’s projects, dependence on key personnel and employee and union relations, risks related to political or social unrest or change, rights and title claims, operational risks and hazards, including unanticipated environmental, industrial and geological events and developments and the inability to insure against all risks, failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated, compliance with government and environmental regulations, including permitting requirements and anti-bribery legislation, volatile financial markets that may affect Ascendant’s ability to obtain additional financing on acceptable terms, the failure to obtain required approvals or clearances from government authorities on a timely basis, uncertainties related to the geology, continuity, grade and estimates of mineral reserves and resources, and the potential for variations in grade and recovery rates, uncertain costs of reclamation activities, tax refunds, hedging transactions, as well as the risks discussed in Ascendant’s most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities and available at

www.sedar.com

.

Should one or more risk, uncertainty, contingency, or other factor materialize, or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, the reader should not place undue reliance on forward-looking information. Ascendant does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.

 

SOUTH SAN FRANCISCO, Calif., Jan. 13, 2021 (GLOBE NEWSWIRE) — Harpoon Therapeutics, Inc. (NASDAQ: HARP), a clinical-stage immunotherapy company developing a novel class of T cell engagers, today announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation for HPN217 for the treatment of multiple myeloma. HPN217, a tri-specific T cell activating recombinant protein construct (TriTAC^®) targets B-cell maturation antigen (BCMA), a well-validated antigen expressed on malignant multiple myeloma cells. Harpoon has four drug product candidates in clinical development for the treatment of solid and hematologic malignancies based on its proprietary TriTAC platform.

“Orphan Drug Designation for multiple myeloma represents a significant milestone in the development of HPN217 and recognizes its potential to address a significant unmet medical need for the patients suffering from this condition,” said Jerry McMahon, Ph.D., President and Chief Executive of Harpoon Therapeutics. “I am pleased with the clinical progress we are making with this program and we are planning to present interim data from the ongoing Phase 1/2 dose escalation trial later this year.”

The FDA’s Orphan Drug Designation program provides orphan status to drugs defined as those intended for the safe and effective treatment, diagnosis or prevention of rare diseases that affect fewer than 200,000 people in the United States. Orphan Drug Designation qualifies the sponsor of the drug for certain development incentives, including tax credits for qualified clinical testing, prescription drug user fee exemptions and seven-year marketing exclusivity upon FDA approval.

About the Phase 1/2 Trial for HPN217

In April 2020, Harpoon announced dosing of the first patient with HPN217 (BCMA TriTAC) in a Phase 1/2 clinical trial focused on relapsed/refractory multiple myeloma (RRMM). HPN217 is covered by a global development and option agreement with AbbVie Inc. (NYSE: ABBV). Dose escalation for HPN217 in the Phase 1/2 clinical trial is progressing rapidly. HPN217 has been well tolerated, and no DLTs had been observed as of the most recent December 1, 2020 data cutoff date. A presentation of interim data is anticipated in 2021, with initiation of a dose expansion cohort in the second half of 2021.

For additional information about the trial, please visit clinicaltrials.gov using the identifier NCT04184050.

About Harpoon Therapeutics

Harpoon Therapeutics is a clinical-stage immunotherapy company developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. T cell engagers are engineered proteins that direct a patient’s own T cells to kill target cells that express specific proteins, or antigens, carried by the target cells. Using its proprietary Tri-specific T cell Activating Construct (TriTAC^®) platform, Harpoon is developing a pipeline of novel TriTACs initially focused on the treatment of solid tumors and hematologic malignancies. HPN424 targets PSMA and is in a Phase 1/2a trial for metastatic castration-resistant prostate cancer. HPN536 targets mesothelin and is in a Phase 1/2a trial for cancers expressing mesothelin, initially focused on ovarian and pancreatic cancers. HPN217 targets BCMA and is in a Phase 1/2 trial for relapsed, refractory multiple myeloma. HPN328 targets DLL3 and is in a Phase 1/2 trial for small cell lung cancer and other DLL3-associated tumors. Harpoon has also developed a proprietary ProTriTAC™ platform, which applies a prodrug concept to its TriTAC platform to create a therapeutic T cell engager that remains inactive until it reaches the tumor. For additional information about Harpoon Therapeutics, please visit www.harpoontx.com.

Cautionary Note on Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “target,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Harpoon Therapeutics’ expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties that could cause Harpoon Therapeutics’ clinical development programs, future results or performance to differ significantly from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements about the progress, timing, scope and anticipated results of clinical trials, the timing of the presentation of data, the association of data with potential treatment outcomes, the development and advancement of product candidates, the timing of development milestones for product candidates, and the anticipated potential impacts to Harpoon Therapeutics’ business from the ongoing COVID-19 pandemic. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data observed during clinical studies, clinical trial site activation or enrollment rates that are lower than expected, unanticipated or greater than anticipated impacts or delays due to COVID-19, changes in expected or existing competition, changes in the regulatory environment, the uncertainties and timing of the regulatory approval process, and unexpected litigation or other disputes. Other factors that may cause Harpoon Therapeutics’ actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Harpoon Therapeutics’ filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” sections contained therein. Except as required by law, Harpoon Therapeutics assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

Contacts:

Harpoon Therapeutics, Inc.
Georgia Erbez
Chief Financial Officer
650-443-7400
[email protected]

Westwicke ICR
Robert H. Uhl
Managing Director
858-356-5932
[email protected]

HOUSTON, Jan. 13, 2021 (GLOBE NEWSWIRE) — Salarius Pharmaceuticals, Inc. (Nasdaq: SLRX), a clinical-stage biopharmaceutical company developing potential new medicines for patients with pediatric cancers, solid tumors, and other cancers, today announced the receipt of a $0.9 million payment as the second installment of $1.7 million in scheduled payments to Salarius under its contract with the Cancer Prevention and Research Institute of Texas (CPRIT). The payments, which include the previously announced receipt of an $0.8 million disbursement announced on December 10, 2020, are part of an original non-dilutive grant awarded in 2016 to support Salarius’ operations and development of its lead drug candidate, seclidemstat, for the treatment of Ewing sarcoma and other cancers. Seclidemstat is a reversible LSD1 inhibitor being studied in two clinical trials — one trial in relapsed/refractory Ewing sarcoma, a rare and deadly pediatric bone and soft tissue cancer, and a second trial in advanced solid tumors (AST). Up to $4.8 million in funding remains available to Salarius under the original 2016 CPRIT Award.

With the full $1.7 million disbursement of CPRIT funds, the $3.6 million gross proceeds from the warrant inducement transaction announced in December 2020 and the $6.2 million gross proceeds from a public offering completed in August 2020, Salarius believes it is well-capitalized to advance the seclidemstat clinical programs through several near-term, value-creating milestones. These milestones include establishing maximum tolerated dose (MTD) in its Ewing sarcoma trial, releasing early safety and clinical data from both clinical trials, advancing into the dose-expansion phase of the Ewing sarcoma trial in early 2021, as well as expanding the same trial to include additional select sarcomas that share a similar biology to Ewing sarcoma, also known as Ewing-related sarcomas.

“The non-dilutive financial support Salarius has received from CPRIT during the past four years has been instrumental in advancing the development of seclidemstat and the growth of our company,” stated David Arthur, President and CEO of Salarius. “Today’s payment, combined with other recent financial transactions undertaken by Salarius continue to strengthen our balance sheet and prepare us for delivering our future milestones.”

Founded in 2007 with a $3 billion bond issue and recently extended with an additional $3 billion bond issue, CPRIT funds cancer research and prevention services in Texas. Salarius was awarded a product development research grant in May 2016 for the development of seclidemstat and the disbursements are based upon Salarius’ achievement of specific goals and objectives. Under the grant agreement, Salarius must provide matching funds equal to 50 percent of the CPRIT funding and make a good faith effort to spend at least half of the CPRIT grant and matching monies within the State of Texas with Texas-based employees or contractors.

About Salarius Pharmaceuticals

Salarius Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing cancer therapies for patients that need them the most. Salarius’ lead candidate, seclidemstat, is being studied as a potential treatment for pediatric cancers, solid tumors and other cancers with limited treatment options. Seclidemstat is currently in a Phase 1/2 clinical trial for relapsed/refractory Ewing sarcoma, for which it has received Fast Track Designation, Orphan Drug Designation and Rare Pediatric Disease Designation from the U.S. Food and Drug Administration. Salarius is also developing seclidemstat for several cancers with high unmet medical need, with a second Phase 1/2 clinical study in advanced solid tumors, including prostate, breast, and ovarian cancers. Salarius has received financial support from the National Pediatric Cancer Foundation to advance the Ewing sarcoma clinical program and was also the recipient of an up to $18.7 million Product Development Award from the Cancer Prevention and Research Institute of Texas (CPRIT). For more information, please visit salariuspharma.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release are forward-looking statements. These forward-looking statements may be identified by terms such as “anticipate,” “potential,” “progress,” “design,” “estimate,” “continue,” “will,” “aim,” “can,” “believe,” “plan,” “allow,” “expect,” “intend,” “goal,” “provide,” “able to,” “position,” “project,” “developing,” and similar terms or expressions or the negative thereof. Examples of such statements include, but are not limited to, statements relating to the following: Salarius’ plans for the use of this CPRIT drawdown, Salarius’ growth strategy; the value of seclidemstat as a potential treatment for Ewing sarcoma and other cancers; the status and anticipated progress and milestones of Salarius’ clinical trials in advanced solid tumors and Ewing sarcoma including statements related to when Salarius will reach the maximum tolerated dose in the Phase 1 portion of the study and when Salarius will begin the Phase 2 expansion portion of any study; the sufficiency of Salarius’ capital resources to fund its current programs and the need to seek additional financing; the expansion of Salarius’ clinical trials to include Ewing-related sarcomas; Salarius’ belief as to being well-capitalized;; the anticipated use of proceeds from Salarius’ recent public offering; the anticipated use of proceeds from Salarius’ warrant excise; Salarius’ developing seclidemstat for several cancers with high unmet medical need; and Salarius plans to initiate additional clinical trials. Salarius may not actually achieve the plans, carry out the intentions or meet the expectations or objectives disclosed in the forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements are subject to risks and uncertainties which could cause actual results and performance to differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, but are not limited to, the following: the sufficiency of Salarius’ capital resources; the ability of, and need for, Salarius to raise additional capital to meet Salarius’ business operational needs and to achieve its business objectives and strategy; Salarius’ ability to project future capital needs and cash utilization and timing and accuracy thereof; the ability of Salarius to access the remaining funding available under the CPRIT grant; future clinical trial results and impact of results on Salarius; that the results of studies and clinical trials may not be predictive of future clinical trial results; the sufficiency of Salarius’ intellectual property protection; risks related to the drug development and the regulatory approval process; the competitive landscape and other industry-related risks; market conditions and regulatory or contractual restrictions which may impact the ability of Salarius to raise additional capital; the possibility of unexpected expenses or other uses of Salarius’ cash resources; risks related to the COVID-19 outbreak; and other risks described in Salarius’ filings with the Securities and Exchange Commission, including those discussed in Salarius’ quarterly report on Form 10-Q for the quarter ended September 30, 2020 and in Salarius’ annual report on Form 10-K for the year ended December 31, 2019. The forward-looking statements contained in this press release speak only as of the date of this press release and are based on management’s assumptions and estimates as of such date. Salarius disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made.

Contact

Tiberend Strategic Advisors, Inc.
Maureen McEnroe, CFA/Miriam Miller (investors)
(212) 375-2664 / 2694
[email protected]
[email protected]
Johanna Bennett (media)
(212) 375-2686 
[email protected]

• RWB’s Platinum Vape records record week of product sales to kick off 2021
  
  
• Platinum branded product sales exceeded
  
  US$2,800,000
  
  for the one-week period ending January 10
  
  ^th
  
  , 2021 powered by increased sales in all active states         

• As sales organically accelerate at Platinum Vape, the Company will enter Arizona in Q1 2021 as previously announced, and expects to enter other RWB core States throughout 2021 

TORONTO, Jan. 13, 2021 (GLOBE NEWSWIRE) — Red White & Bloom Brands Inc.(CSE: RWB)(OTC: RWBYF) (“RWB” or the “Company”) announces that it has made its final cash payment of US$13 million to the sellers in relation to its purchase last year of Platinum Vape (“PV”). Full details of the PV acquisition can be found in the September 14, 2020 press release.

PV continues to see growth in sales of PV branded products. In the first full week of 2021, PV branded products had a record US$2.8 million in sales. The Company continues to work towards its launch of PV in Arizona and is looking at other states for potential expansion.

Brad Rogers, CEO of RWB, stated, “I’m very proud of our team at PV who continue to exponentially outperform the market and add accretive value to RWB,” adding, “I am happy to have this milestone completed and pleased to see the excitement the entire RWB team brings in to work every day and their drive to replicate this growth across the organization.”

In addition, the Company reports today that it has issued a US$11,550,000 principal amount debenture (the “Debenture”) to an arm’s-length investor by way of a private placement (the “Private Placement”) netting the company approximately $11 million after fees and expenses. The Debenture is not convertible, unsecured and bears interest at the rate of 1% per month. The principal amount of the Debenture and accrued interest is payable on the date that is the earlier of: (i) the date of completion by the Company of a minimum financing of US$20,000,000 and (ii) 120 days from the date of issuance of the Debenture, all as more particularly as set forth in the debenture certificate (the “Maturity Date”). The Company continues to work on its previously announced US$60m financing, see the December 17, 2020 press release, additional details shall be provided on progress in due course.

The Company intends to use the proceeds from the Private Placement for working capital purposes, including making the final payment under the PV acquisition agreement. All securities issued in connection with the Private Placement will be subject to a four-month hold period under securities laws.

About Red White & Bloom Brands Inc.

The Company is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major US markets, including Michigan, Illinois, Massachusetts, Arizona and California with respect to cannabis, and the US and internationally for hemp-based CBD products.

For more information about Red White & Bloom Brands Inc., please contact:

Tyler Troup, Managing Director

Circadian Group IR
[email protected]

Visit us on the web: www.RedWhiteBloom.com

Follow us on social media:

Twitter: @rwbbrands
Facebook: @redwhitebloombrands
Instagram: @redwhitebloombrands

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING INFORMATION

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations.  When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.  The forward-looking statements and information in this press release includes information relating to the implementation of the Company’s business plan including the completion of the Platinum Vape acquisition, the PharmaCo acquisition and the Private Placement.  Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, and the volatility of the Company’s common share price and volume.  Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change.  Investors are cautioned against attributing undue certainty to forward-looking statements.

There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information.  Such factors include, among others, risks related to the Company’s proposed business, such as failure of the business strategy and government regulation; risks related to the Company’s operations, such as additional financing requirements and access to capital, reliance on key and qualified personnel, insurance, competition, intellectual property and reliable supply chains; risks related to the Company and its business generally. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized.  It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. While the Company may elect to, it does not undertake to update this information at any particular time.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE.  READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

• Preliminary total pro-forma combined revenue for 2020 was approximately $5.2 million
  
• Maintained strong balance sheet with $13.3 million cash as of December 31, 2020 and total capital raised in 2020 of $35.3 million
• OpGen subsidiary Ares Genetics to explore multiple collaboration opportunities with several parties
  

GAITHERSBURG, Md., Jan. 13, 2021 (GLOBE NEWSWIRE) — OpGen, Inc. (Nasdaq: OPGN, “OpGen”), a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help combat infectious disease, announced today that total pro-forma preliminary unaudited revenue (including revenue from discontinued operations) for OpGen in 2020 was approximately $5.2 million, compared to about $6.0 million in 2019. Fourth quarter 2020 revenue for OpGen was approximately $1.3 million compared to
$ 0.8 million in Q4-2019. The company expects to provide fourth quarter 2020 and full year 2020 financial results during its upcoming earnings call in March 2021. OpGen’s cash position as of December 31, 2020 was approximately $13.3 million, an increase from $2.7 million in 2019.

The company also announced accomplishment of the following key milestones and recent developments in the fourth quarter and full year 2020 as well as 2021 to date:

• Following the announced delay in FDA review of the Acuitas AMR Gene Panel 510(k) submission due to the agency’s prioritization of COVID-19 related EUAs, OpGen anticipates the re-allocation of FDA staff towards the review of non-COVID-19 related submissions and a near term clearance decision for the Acuitas AMR Gene Panel in Q1-2021.
• The 90-day exclusive negotiation period with a global leading IVD corporation partner towards a potential collaboration and licensing deal recently expired. While a larger strategic deal and licensing agreement is not expected to materialize with such partner in the near term, the parties continue to discuss on a non-exclusive basis potential targeted and focused R&D collaboration as well as possible licensing opportunities. Ares Genetics expects to engage in multiple further partnering and licensing discussions with additional IVD partners that expressed interest in collaborating in the coming months.
• OpGen subsidiary Curetis entered into exclusive distribution partnership in Colombia with Annar Health Technologies for Curetis’ Unyvero A50 platform.
• OpGen announced the release of a new peer-reviewed publication that demonstrates that the Unyvero LRT BAL panel accurately detects 19 bacteria alongside Pneumocystis jirovecii and 10 antibiotic resistance genes directly from bronchoalveolar lavage fluid, allowing enhanced diagnosis of lower respiratory tract infections.
• OpGen completed a $ 10 million private placement priced at the market with one healthcare-focused U.S. institutional investor, bringing the total amount of capital raised in 2020 to $35.3 million, including the proceeds of the company’s ATM facility and warrant exercises.
• Ares Genetics extended its collaboration with Sandoz within its pharma partnering program. Ares Genetics presented advances of its research use only (RUO) based ares-genetics.cloud platform for predictive antibiotic susceptibility testing (AST) at various scientific conferences and expects granting of key patent on genetic resistance prediction.
• OpGen’s wholly owned subsidiary, Ares Genetics GmbH, completed the transition of leadership to Dr. Arne Materna, who was appointed as Managing Director and CEO of Ares Genetics effective January 1, 2021.
• OpGen’s subsidiary, Curetis GmbH, obtained CE mark certification in the European Union for its own SARS-CoV-2 Kit with PULB for the detection of SARS-CoV-2, the virus that causes COVID-19.
• Streamlined portfolio of platforms and products with focus going forward on Unyvero UTI and IJI for upcoming clinical trials in 2021 and subsequent FDA submissions.
• Exiting FISH business by mid 2021 and ended Acuitas AMR Gene Panel urine trial in fall of 2020.

Oliver Schacht, President & CEO of OpGen, commented, “We are pleased with our fourth quarter and full year 2020 preliminary results and are off to a strong start into 2021. With our new corporate strategy defined and portfolio consolidation successfully completed, a robust cash position and strong global partnerships, there is no doubt that our business has the potential to grow significantly in the coming years. I am especially excited about upcoming key milestones such as an FDA clearance decision on the Acuitas AMR Gene Panel for isolates.”

Mr. Schacht continued, “We have strong lines of communication open with the FDA regarding the Acuitas AMR Gene Panel for Isolates. Based on the most recent feedback from the FDA, we expect them to resume review activities following a COVID-19 related staffing surge, and we reiterate anticipation of a near term clearance decision in Q1-2021 and are fully prepared to follow with a swift commercial launch once FDA cleared. While a strategic collaboration and licensing deal did not materialize during the 90-day exclusive negotiation period between Ares Genetics and our IVD partner, conversations to explore further potential collaboration opportunities continue. In addition, we are looking forward to being able to re-engage and continue our dialog with several additional parties based on recent inbound expressions of interest, on a non-exclusive basis over the coming months. In closing, we finished the year strong with a solid balance sheet, access to additional capital and a pipeline and R&D portfolio that allow us to develop and commercialize industry-leading, data-driven solutions in infectious disease diagnostics.”

The preliminary financial results are estimates prior to the completion of OpGen’s financial closing procedures and review procedures by its external auditors and therefore may be subject to adjustment when the actual results are available.

About OpGen, Inc.

OpGen, Inc. (Gaithersburg, MD, USA) is a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help combat infectious disease. Along with subsidiaries, Curetis GmbH and Ares Genetics GmbH, we are developing and commercializing molecular microbiology solutions helping to guide clinicians with more rapid and actionable information about life threatening infections to improve patient outcomes, and decrease the spread of infections caused by multidrug-resistant microorganisms, or MDROs. OpGen’s product portfolio includes Unyvero, Acuitas AMR Gene Panel and Acuitas^® Lighthouse, and the ARES Technology Platform including ARESdb, using NGS technology and AI-powered bioinformatics solutions for antibiotic response prediction.

For more information, please visit www.opgen.com.

Forward-Looking Statements

This press release includes statements regarding OpGen’s fourth quarter 2020 and full year results, expected FDA review and clearance decision regarding the Acuitas AMR Gene Panel for isolates, potential strategic partnering and licensing opportunities for Ares Genetics, and the impact of COVID-19 on the company and general market conditions. These statements and other statements regarding OpGen’s Unyvero products, their commercialization and launch, future plans and goals constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. Factors that could cause our results to differ materially from those described include, but are not limited to, our ability to successfully, timely and cost-effectively develop, seek and obtain regulatory clearance for and commercialize our product and services offerings, the rate of adoption of our products and services by hospitals and other healthcare providers, the fact that we may not effectively use proceeds from recent financings, including our November 2020 private placement, the realization of expected benefits of our business combination transaction with Curetis GmbH, the success of our commercialization efforts, the impact of COVID-19 on the company’s operations, financial results, and commercialization efforts as well as on capital markets and general economic conditions, the effect on our business of existing and new regulatory requirements, and other economic and competitive factors. For a discussion of the most significant risks and uncertainties associated with OpGen’s business, please review our filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

OpGen:

Oliver Schacht
President and CEO
[email protected]

OpGen Press Contact:

Matthew Bretzius 
FischTank Marketing and PR
[email protected]

OpGen Investor Contact:

Megan Paul
Edison Group 
[email protected]

LORDSTOWN, Ohio, Jan. 13, 2021 (GLOBE NEWSWIRE) — Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, has accepted an invitation from the United States Department of Energy to start the due diligence process toward securing an Advanced Technology Vehicles Manufacturing Loan (“ATVM Loan”).

The DOE’s invitation is not an assurance that Lordstown Motors will secure an ATVM loan. The ATVM Loan Program was authorized by the Energy Independence and Security Act of 2007 to support the manufacturing of eligible light-duty vehicles and qualifying components in the United States. Since the start of the program, the Department of Energy has closed on more than $8 billion in loans.

“As we’ve said before, our business model is not reliant on receiving the ATVM loan,” remarked Lordstown Motors CEO Steve Burns. “The funds would, however, enable us to increase production capacity to get the Lordstown Endurance to more customers more quickly, while simultaneously advancing research and development of future vehicles.”

About Lordstown Motors Corp.

Lordstown Motors Corp. is an Ohio-based original equipment manufacturer of light duty fleet vehicles, founded by CEO Steve Burns with the purpose of transforming Ohio’s Mahoning Valley and Lordstown, Ohio, into the epicenter of electric-vehicle manufacturing. The company owns the 785 acre, 6.2 million square foot Lordstown Assembly Plant where it plans to build the Lordstown Endurance, believed to be the world’s first full-size, all-electric pickup truck designed to serve the commercial fleet market. For additional information visit www.lordstownmotors.com.

Forward Looking Statements

This press release includes forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: whether the ATVM Loan will be approved following completion of the due diligence process; our limited operating history and our significant projected funding needs; risks associated with the conversion and retooling of our facility and ramp up of production; our inability to obtain orders from customers and potential customers’ inability to integrate our electric vehicles into their existing fleets; our inability to retain key personnel and to hire additional personnel; competition in the electric pickup truck market; our inability to develop a sales distribution network; and the ability to protect our intellectual property rights. Any forward-looking statements speak only as of the date on which they are made, and Lordstown Motors Corp. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

Contacts:

Investors

Carter Driscoll
[email protected]

Media

Ryan Hallett / Leigh Harmon
[email protected]

SAN FRANCISCO, Jan. 13, 2021 (GLOBE NEWSWIRE) — Vdoo, a leader in product security for embedded software, today revealed it had extended its Series B funding to $57M, in an additional round led by Qumra Capital, Verizon Ventures, and others.

The round was completed in the third quarter of last year, and the new funding was leveraged to expand Vdoo’s offering to the telco and smart utility space, at the backdrop of the connectivity surge induced by COVID-19. The round increased the total capital raised by Vdoo to $70M. Qumra Capital and Verizon Ventures joined existing investors 83North, GGV Capital, WRVI Capital, Dell Technologies Capital, NTT DOCOMO Ventures, MS&AD Ventures, and prominent private investors in the extension round.

According to Netanel Davidi, Co-Founder and CEO of Vdoo, “Over the last year, we’ve experienced huge market demand from device deployers such as telcos and utilities. These companies are responsible for the security of the millions of devices such as routers, connected home appliances, and smart meters that they deploy to their end-user and customer environment. With Vdoo’s new offering, they can now quickly and easily vet the security and standard compliance of these devices and continue to monitor and protect the devices over the lifecycle of the product. As a result, our newest customers include top U.S. and global telcos and additional utilities players globally. We are happy to announce this round after receiving strong market validation, and we are thankful we were able to grow significantly in these challenging times.”

The connected product security market continues to expand; research firm Markets and Markets predicts the global device security market to grow from $12.5 billion in 2020 to $36.6 billion by 2025. COVID-19 and the shift to working from home (WFH) have dramatically increased the number of remotely connected devices, accelerating the demand for securing connected products.

Vdoo delivers the industry’s leading automated product security platform for device manufacturers and deployers. Vdoo’s platform performs a complete security assessment in minutes, providing a comprehensive report identifying zero-day vulnerabilities, CVEs, configuration and hardening issues, standard incompliances, and other security exposures with suggested prioritization and remediation mechanisms.

“The world’s top device manufacturers and deployers choose to work with Vdoo because they recognize the importance of securing their products,” said Davidi. “They’re leveraging the Vdoo platform to analyze their security and standards posture before deployment, and then continue to protect their devices through the end of product life. Our customers include dozens of Fortune 500 companies across every industry, geography, and type of connected product, such as automotive, industrial, medical, smart buildings, and now also telcos and utilities.”

“The number of connected IoT devices is rapidly growing, creating greater opportunities for security breaches,” said Boaz Dinte, Managing Partner of Qumra Capital that led the round. “Vdoo’s unique device-centric, deep technology automated approach has already brought immediate value to vendors in a very short period of time. We believe the market opportunity is huge, and with newly infused growth capital, Vdoo is well-positioned to become the leading global player for securing connected devices.”

“With the expansion of 5G networks and mobile edge compute, there’s a need for an end-to-end, device-centric security approach to IoT,” said Verizon Ventures Managing Director Tammy Mahn. “As the venture arm of a leading telco, Verizon Ventures is proud to invest in Vdoo and its world-class team on their journey to solve this global need, while ushering in a new era of security by design in our increasingly connected world.”

About Vdoo

Vdoo’s automated approach to securing connected products has helped Fortune 500 manufacturers and service providers to scale up their product security capabilities across multiple lines of business, enabling them to significantly shorten their time-to-market, reduce resource requirements, increase sales and lower overall risk profiles.

Founded by a team of serial entrepreneurs with deep expertise in endpoint and embedded system security, Vdoo is a global company with offices in the U.S., Germany, Israel and Japan. For more information, visit www.vdoo.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/902fa4be-00ff-4ca9-bb3c-31b6fa9817d8

Contact:
Paula Brici
Eskenzi PR
+1 949 677 6527
[email protected]