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Franchise Group, Inc. Announces Offering of Series A Cumulative Perpetual Preferred Stock

ORLANDO, Fla., Jan. 11, 2021 (GLOBE NEWSWIRE) — Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”) today announced it has commenced an underwritten registered public offering of shares of its 7.50% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share (the “Preferred Stock”). The Company expects to grant the underwriters a 30-day option to purchase additional shares of the Preferred Stock in connection with the offering.

The Company expects to use the net proceeds of this offering for general corporate purposes, including funding future acquisitions and investments.

This offering is a reopening of the Company’s original issuance of Preferred Stock, which occurred on September 18, 2020. The additional shares of Preferred Stock sold in this offering will be consolidated, form a single series, and be fully fungible with all outstanding Preferred Stock. The Preferred Stock is listed on The NASDAQ Global Market under the symbol “FRGAP.”

Dividends on the Preferred Stock are paid when declared by the Company’s Board of Directors at a fixed rate of 7.50% of the $25.00 liquidation preference per year, equivalent to $1.875 per year. Dividends on the Preferred Stock are payable quarterly in arrears, on or about the 15th day of January, April, July and October of each year, and the first dividend on the Preferred Stock sold in this offering will be paid on or about April 15, 2021 in an amount equal to $0.46875 per share.

B. Riley Securities, Inc., Incapital LLC, D.A. Davidson & Co., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., National Securities Corporation and William Blair & Company, L.L.C. are acting as book-running managers for this offering. Aegis Capital Corp., Boenning & Scattergood, Inc. and Huntington Securities, Inc. are acting as co-managers for this offering.

The offering of these securities is being made pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission (the “SEC”) on January 31, 2020, and declared effective by the SEC on June 22, 2020.  The offering will be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to these securities may be obtained, when available, from the website of the SEC at http://www.sec.gov or by contacting:  B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, Virginia  22209, Attn: Prospectus Department, Email: [email protected], Telephone: (703) 312-9580. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Franchise Group, Inc.

Franchise Group is an operator of franchised and franchisable businesses that continually looks to grow its portfolio of brands while utilizing its operating and capital allocation philosophy to generate strong cash flow for its shareholders. Franchise Group’s business lines include Liberty Tax Service, Buddy’s Home Furnishings, American Freight and The Vitamin Shoppe. On a combined basis, Franchise Group currently operates over 4,000 locations predominantly located in the U.S. and Canada that are either Company-run or operated pursuant to franchising agreements.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, projections, predictions, expectations, or beliefs about future events or results and are not statements of historical fact, including statements regarding the terms and conditions and timing of the preferred stock offering and the intended use of proceeds. Such forward-looking statements are based on various assumptions as of the time they are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are often accompanied by words that convey projected future events or outcomes such as “expect,” “believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,” “will,” “may,” “view,” “opportunity,” “potential,” or words of similar meaning or other statements concerning opinions or judgment of the Company or its management about future events. Although the Company believes that its expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements of the Company will not differ materially from any projected future results, performance or achievements expressed or implied by such forward-looking statements. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, many of which are beyond the control of the Company.  We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s Transition Report on Form 10-K/T for the transition period ended December 28, 2019, and comparable sections of the Company’s Quarterly Reports on Form 10-Q and other filings, which have been filed with the SEC and are available on the SEC’s website at www.sec.gov. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on the Company or its business or operations. Readers are cautioned not to rely on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made and the Company does not undertake any obligation to update, revise or clarify these forward-looking statements, whether as a result of new information, future events or otherwise.

INVESTOR RELATIONS CONTACT:

Andrew F. Kaminsky
EVP & Chief Administrative Officer
Franchise Group, Inc.
[email protected]
(914) 939-5161



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Starton Therapeutics Selects Formulation for Continuous Subcutaneous Lenalidomide Delivery System for CLL Treatment

Additional patent application filed for novel parenteral formulation in development for Chronic Lymphocytic Leukemia (CLL)

PARAMUS, N.J., Jan. 11, 2021 (GLOBE NEWSWIRE) — Starton Therapeutics Inc. (“Starton” or the “Company”), a clinical stage biotechnology company powering continuous delivery of approved drugs in novel indications, announced today that it has selected a subcutaneous lenalidomide formulation as the lead formulation candidate for its continuous subcutaneous delivery system (STAR-LLD SC) for chronic lymphocytic leukemia (CLL) and other hematologic malignancies.

“Lenalidomide is an exceptionally challenging molecule to formulate,” said Andy Rensink, Chief Manufacturing Officer. “By using unique and novel technology we are thrilled to have successfully developed a stable solution for use in the STAR-LLD SC delivery system and are excited to move this product closer to benefitting patients.”

Starton has filed a provisional patent application based on the novelty of the formulation, which is being co-developed and co-manufactured in collaboration with a large international FDA-compliant contract manufacturing partner. Any IP generated from co-development and co-manufacturing will be solely owned by Starton Therapeutics. STAR-LLD SC clinical trial materials are expected to be shipped in Q2 2021 for initiation of Phase 1/2 clinical studies for CLL in the second half of 2021. The studies are expected to use an open-label design with arms in multiple indications in CLL, with each target indication using different sub-population characteristics. Starton believes that this strategy provides multiple shots on goal with at least one indication with the potential for FDA breakthrough therapy designation.

STAR-LLD SC is the first delivery system in the STAR-LLD continuous delivery platform. Starton is also developing a once-weekly transdermal delivery patch system, which is also rapidly progressing in formulation development. STAR-LLD SC will use an ambulatory pump to infuse low-dose lenalidomide continuously, based on Starton research showing that low-dose continuous delivery may have superiority in survival and complete response rates. STAR-LLD is expected to offer a new mode of action for CLL patients and be the first IMiD (immunomodulatory drug) available for this patient population.

About Starton Therapeutics

A clinical-stage biotechnology company focused on transforming standard of care therapeutics. Starton uses proven continuous delivery technology with proprietary drivers to obtain new indications or develop on-label superiority for patients with hematological malignancies. To learn more, visit www.startontx.com   

This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of the Company’s business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as “may,” “should,” “plan,” “intend,” “potential,” “continue,” “believe,” “expect,” “predict,” “anticipate” and “estimate,” the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company’s control and involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company’s beliefs, assumptions and expectations of future performance, taking into account information currently available to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. Information in this press release will be updated only to the extent required under applicable laws. If a change occurs, the Company’s business, financial condition, liquidity, results of operations, plans and objectives may vary materially from those expressed in the aforementioned forward-looking statements.


Starton Investor Relations:

[email protected]

+1 551 287 6456



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Turning Point Therapeutics Announces 2021 Milestone Targets


  • Present Updated Data from TRIDENT-1 Study in TKI-Naive Patients with ROS1-Positive Non-Small Cell Lung Cancer Jan. 31 at World Conference on Lung Cancer


  • Provide TRIDENT-1 Study Timeline in First Quarter


  • Provide Clinical Data Interim Updates from Multiple Studies, including Phase 1/2 TRIDENT-1, Phase 1 SHIELD-1 and Phase 1 Study of TPX-0046


  • Submit Fourth Drug Candidate IND in First Quarter


  • Initiate Combination Studies for Repotrectinib and TPX-0022


  • Outline Precision Therapy Research Vision in Second Half


  • Company also Updates Cash, Cash Equivalents, and Marketable Securities as of Dec. 31, 2020; Approximately $1.1 Billion Expected to Fund Current Operations into 2024

SAN DIEGO, Jan. 11, 2021 (GLOBE NEWSWIRE) — Turning Point Therapeutics, Inc. (NASDAQ: TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced 2021 milestone targets for its pipeline of four drug candidates, including data updates from multiple clinical studies and the initiation of new clinical studies. The company also updated its cash position as of Dec. 31, 2020.

“Following a pivotal year in 2020, we believe we have even greater opportunities in 2021 to further advance our pipeline by potentially modifying our SHIELD-1 study to a registrational Phase 1/2 design, adding three new clinical trials, including two anticipated combination studies and a Phase 1 study of our fourth drug candidate, our novel ALK-inhibitor TPX-0131, and reporting initial or updated data from our three clinical stage drug candidates,” said Athena Countouriotis, M.D., president and chief executive officer. “At the same time, we have continued to invest in our discovery engine and look forward to the second half of the year when we plan to outline our focus and goals to further expand the pipeline.”


2020 Achievements and 2021 Milestone Targets

Repotrectinib, ROS1 and TRK Inhibitor

In 2020, repotrectinib was granted breakthrough-therapy designation (BTD) and received its second and third fast-track designations. In addition, the company signed an exclusive license agreement with Zai Lab to develop and commercialize repotrectinib in greater China and reported early interim data from the Phase 2 TRIDENT-1 registrational study.

2021 Milestone Targets:

  • Present updated data from the TRIDENT-1 study in TKI-naive patients with ROS1-positive advanced non-small cell lung cancer (NSCLC) in a mini-oral presentation on Jan. 31 at the World Conference on Lung Cancer
  • Provide an update on the overall Phase 2 TRIDENT-1 registrational study timeline in the first quarter
  • Initiate the Phase 2 TRIDENT-2 combination study in patients with KRAS mutant NSCLC mid-year
  • Provide clinical data updates from certain cohorts of the Phase 2 TRIDENT-1 study in the second half

TPX-0022, MET/SRC/CSF1R Inhibitor

In 2020, Turning Point advanced its clinical development of TPX-0022 and reported initial data from the Phase 1 SHIELD-1 study in an oral presentation during the plenary session at the EORTC-NCI-AACR medical symposium.

Earlier today, the company announced the broadening of its collaboration with Zai Lab to include an exclusive licensing agreement for TPX-0022 in greater China.

2021 Milestone Targets:

  • Initiate the Phase 2 portion of SHIELD-1, pending FDA feedback, in the second half
  • Initiate the Phase 2 SHIELD-2 study of TPX-0022 in combination with an epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor in the second half
  • Provide a clinical data update from the Phase 1 portion of the SHIELD-1 study in the second half

TPX-0046, RET Inhibitor

In 2020, Turning Point presented preclinical data highlighting the potent inhibition of TPX-0046 against wildtype RET and RET mutations, and continued its ongoing Phase 1 study of TPX-0046.

2021 Milestone Target:

  • Report early interim data from initial patients enrolled in the dose finding portion of the TPX-0046 Phase 1 study in the first half

TPX-0131, ALK Inhibitor

In 2020, Turning Point nominated TPX-0131 as its ALK inhibitor drug candidate, advanced its IND enabling studies, and presented preclinical data highlighting its ability to overcome ALK resistant mutations refractory to approved ALK inhibitors.

2021 Milestone Targets:

  • Submit the IND for TPX-0131 in the first quarter
  • Initiate a Phase 1 clinical study of TPX-0131 in the first half

Early Discovery Pipeline

In 2020, Turning Point named Siegfried Reich as chief scientific officer and made investments to advance its research strategy.

2021 Milestone Target:

  • Outline research strategy, focus and milestones for future development candidates in the second half

Financial

In 2020, Turning Point completed follow-on stock offerings generating gross proceeds of $374 million and $460 million. The company enters 2021 with approximately $1.1 billion in cash, cash equivalents and marketable securities as of Dec. 31, 2020, which is expected to fund operations into 2024.

About Turning Point Therapeutics Inc.

Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer therapies. The company’s lead drug candidate, repotrectinib, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib, which is being studied in a registrational Phase 2 study called TRIDENT-1 in adults and a Phase 1/2 study in pediatric patients, has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pre-treated patients. The company’s pipeline of drug candidates also includes TPX-0022, targeting MET, CSF1R and SRC, which is in a Phase 1 study called SHIELD-1 in patients with advanced or metastatic solid tumors harboring genetic alterations in MET; RET-inhibitor TPX-0046, which is in a Phase 1/2 study of patients with advanced or metastatic solid tumors harboring genetic alterations in RET; and ALK-inhibitor TPX-0131, which is in IND-enabling studies. Turning Point’s next-generation kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment. For more information, visit www.tptherapeutics.com.

Forward Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the efficacy, safety and therapeutic potential of Turning Point Therapeutics’ drug candidates repotrectinib, TPX-0022, TPX-0046 and TPX-0131, the results, conduct, progress and timing of Turning Point Therapeutics’ research and development programs and clinical trials including the Phase 2 TRIDENT-1 clinical study, the Phase 1 SHIELD-1 clinical study of TPX-0022 and the Phase 1/2 clinical study of TPX-0046, plans regarding future clinical trials and regulatory submissions, the regulatory approval path for repotrectinib, and the strength of Turning Point Therapeutics’ balance sheet and the adequacy of cash on hand. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “plans”, “will”, “believes,” “anticipates,” “expects,” “intends,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Turning Point Therapeutics’ current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Turning Point Therapeutics’ business in general, risks and uncertainties related to the impact of the COVID-19 pandemic to Turning Point’s business and the other risks described in Turning Point Therapeutics’ filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Turning Point Therapeutics undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Contact:
Jim Mazzola
[email protected]
858-342-8272 



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Tanger Provides Liquidity And Operational Updates

Cash on Hand Grows to More Than $80 Million

Collections Exceed 90% of Fourth Quarter Rents Billed & More Than 40% of Deferred Rents Prepaid in December

Traffic at 90% of Prior Year Levels During Fourth Quarter

PR Newswire

GREENSBORO, N.C., Jan. 11, 2021 /PRNewswire/ — Tanger Factory Outlet Centers, Inc. (NYSE:SKT), a leading operator of upscale open-air outlet centers, today provided liquidity and operational updates.

“Our traffic and strong cash collection metrics clearly demonstrate the importance of our open-air outlet centers to retailers and consumers,” said Stephen Yalof, President and Chief Executive Officer.

The Company’s operations continued to generate positive cash flow throughout the second half of 2020. As of January 6, 2021, Tanger’s total liquidity was more than $680 million, including more than $80 million of cash on hand and $600 million of unused capacity under its unsecured lines of credit. Collections through that date exceeded 90% of fourth quarter 2020 rents billed and more than 40% of the deferred rents due in 2021 had been collected, the majority of which was prepaid by tenants during December.

Consolidated portfolio occupancy was 91.9% as of December 31, 2020. As expected, this reflects approximately 317,000 square feet of space recaptured during the fourth quarter related to tenant bankruptcies and restructuring announcements by retailers for a total of 903,000 square feet during 2020. Traffic during the fourth quarter represented approximately 90% of prior year levels.  

In November, the Company offered a voluntary early retirement plan to certain employees who elected to participate by December 1, 2020. These employees will retire on March 31, 2021 to ensure an orderly transition. Tanger expects to recognize a charge to general and administrative expense of approximately $2.3 million, including approximately $575,000 that was recognized during the fourth quarter of 2020 and $1.7 million to be recognized during the first quarter of 2021. 

The Company will participate in the ICR Conference today at 10:30 a.m. EST. Stephen Yalof will host a fireside chat moderated by Todd Thomas, equity research analyst with KeyBanc Capital Markets. A link to the webcast is available on Tanger’s Investor Relations website, investors.tangeroutlet.com.


About Tanger Factory Outlet Centers, Inc.

Tanger Factory Outlet Centers, Inc. (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger’s operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies. The Company has more than 40 years of experience in the outlet industry and is a publicly-traded REIT. For more information on Tanger Outlet Centers, call 1-800-4TANGER or visit the Company’s website at www.tangeroutlets.com. 


Investor Contact 


Media Contact

Cyndi Holt 

Quentin Pell

VP of Investor Relations 

VP of Corporate Communications and Enterprise Risk


[email protected]

Management


[email protected] 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/tanger-provides-liquidity-and-operational-updates-301204698.html

SOURCE Tanger Factory Outlet Centers, Inc.

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Cybin Partners with Kernel to Leverage its Breakthrough Neuroimaging Technology for Psychedelic Therapeutics

Cybin Partners with Kernel to Leverage its Breakthrough Neuroimaging Technology for Psychedelic Therapeutics

HIGHLIGHTS

  • Using Kernel’s technology, Cybin will be able to quantify brain activity in real time during psychedelic experiences. The absence of this data has been a limitation in the progression of new molecules targeting neurological disorders.
  • Kernel’s technology opens new frontier in psychedelic therapeutics by acquiring longitudinal brain activity before, during and after a psychedelic experience, enabling quantification of what was previously subjective self-reporting.
  • Kernel technology is unique among brain scanning technologies and is the first commercially scalable time-domain functional near-infrared spectroscopy system.
  • Cybin aims to build upon its expanded development pipeline gained through the acquisition of Adelia Therapeutics.
  • Kernel, based in Los Angeles, CA, was founded in 2016 and has raised US$104 million to date, including investment from founder Bryan Johnson, General Catalyst and Khosla Ventures.

TORONTO–(BUSINESS WIRE)–Cybin Inc. (NEO:CYBN) (“Cybin”), a life sciences company focused on psychedelic therapeutics, is excited to announce that it has entered into an agreement with neurotech pioneer HI, LLC dba Kernel (“Kernel”) to leverage its innovative technology, Kernel Flow (“Flow”), for its upcoming sponsored clinical work. Click here to view the accompanying film.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210111005430/en/

(Photo: Business Wire)

(Photo: Business Wire)

Flow is a full-head coverage, time-domain functional near-infrared spectroscopy system designed to detect hemodynamic changes in the brain that pulses light through the skull and into the bloodstream in order to measure how much oxygen the blood is carrying at any given time. Flow measurements can be used as analogues of local neural activity during a psychedelic experience. Cybin expects the quantitative measurements enabled by Flow may improve the development, delivery and scaling of its psychedelic therapeutics.

“Access to Kernel’s innovative Flow technology adds another exciting dimension to the investigative work that Cybin is doing to develop breakthrough treatments for mental health disorders such as depression and addiction. Currently, clinical investigators rely on limited subjective information from patients. The ability to collect quantitative data from our sponsored drug development programs is potentially game-changing in terms of our ability to measure where psychedelics work in the brain in real time, and how we ultimately design our future therapeutics. We are delighted to partner with Kernel to study the utility of Flow in sponsored clinical settings. This new cornerstone component of our sponsored clinical programs follows a record-setting capital raise, listing on the NEO Exchange and the acquisition of Adelia Therapeutics Inc., which added significant scientific capabilities, novel molecules, delivery mechanisms and intellectual property,” stated Doug Drysdale, CEO of Cybin.

“Cybin’s visionary approach to understanding and treating mental illness through psychedelic therapeutics opens a new frontier for addressing human health and wellness. This opportunity with Cybin will assist the transition from subjective self-reporting to longitudinal, quantitative measurements and insights, thereby offering the promise of data-driven, personalized treatment protocols that may significantly improve safety and efficacy,” stated Bryan Johnson, Founder and CEO of Kernel.

Cybin intends to take delivery of Flow in the second quarter of 2021. Cybin plans to undertake sponsored studies in a range of clinical conditions and utilize insights gained from the data collected by Flow technology to inform the design of future clinical studies, support regulatory submissions and aid in the design of future molecules to address the needs of mental health patients.

About Cybin

Cybin is a life sciences company advancing psychedelic therapeutics for various psychiatric and neurological conditions. Cybin is developing technologies and delivery systems, aiming to improve bioavailability, to potentially achieve the desired medicinal effects of psychedelics at low dosage levels. The new delivery systems are expected to be studied through sponsored clinical trials to confirm safety and efficacy.

About Kernel

Kernel is a team of neuroscientists, physicists, engineers, programmers, and experiment and operations experts driven by the belief that exploring and quantifying the human mind is the most important and consequential opportunity of our time. Based in Los Angeles, California, Kernel was founded in 2016 and has raised US$104 million to date including investment from founder Bryan Johnson, General Catalyst and Khosla Ventures. Prior to Kernel, Johnson was the Founder and CEO of Braintree Venmo, which was acquired by eBay for US$800 million in 2013.

About Flow

Flow is a headworn, scalable, non-invasive neuroimaging system. Flow leverages time-domain functional near-infrared spectroscopy, a gold standard optical method for detecting hemodynamics of the cerebral cortex. Time-domain systems acquire richer brain signals than traditional near-infrared spectroscopy devices by applying light in short pulses and precisely capturing the arrival time distribution of scattered photons from each pulse. This “time-of-flight” measurement reveals depth-dependent information and absolute optical properties of the brain. Changes in these measured optical properties allow inference of spatially localized neural activity.

Cautionary Notes and Forward Looking Statements

Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding Cybin’s future, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding the results of Flow technology on Cybin’s sponsored clinical studies, insights to be gained from the data collected by Flow technology, the ability of Flow technology to achieve the stated objectives, the potential success of Cybin’s therapeutics, formulations, delivery mechanisms and therapeutic program. These statements are not historical facts but instead represent only Cybin’s expectations, estimates and projections regarding future events. These statements are not guaranteeing future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. The forward-looking information and forward-looking statements included in this press release are made as of the date of this press release. Cybin does not undertake an obligation to update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities law. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date.

Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, dimethyltryptamine (“DMT”), psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products have not been confirmed by approved research. There is no assurance that the use of psilocybin or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.

The NEO Exchange has not approved or disapproved the contents of this news release.

Investor:

Tim Regan/Scott Eckstein

KCSA Strategic Communications

[email protected]

Lisa M. Wilson

In-Site Communications, Inc.

[email protected]

Media:

Jackie Poriadjian

Chief Marketing Officer, Cybin

[email protected]

Annie Graf

KCSA Strategic Communications

[email protected]

Faith Pomeroy-Ward

In-Site Communications, Inc.

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Science Software Biotechnology Research Pharmaceutical Hardware Health Technology

MEDIA:

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Cybin will leverage Kernel’s Flow to quantify brain activity during psychedelic experiences in real time, adding an exciting dimension to its investigative work focused on developing breakthrough therapeutics for mental health disorders. (Photo: Business Wire)
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(Photo: Business Wire)
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InterRent Announces $292.5 Million Portfolio Acquisition in Metro Vancouver with Crestpoint

InterRent Announces $292.5 Million Portfolio Acquisition in Metro Vancouver with Crestpoint

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

OTTAWA, Ontario–(BUSINESS WIRE)–
InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent” or the “REIT”) announced today that, together with Crestpoint Real Estate Investments Ltd. (“Crestpoint”), it has entered into agreements to acquire 15 properties in Metro Vancouver (the “AcquisitionPortfolio”) for a combined purchase price of $292.5 million. Under the arrangements, InterRent and Crestpoint will each own a 50% interest in the Acquisition Portfolio. InterRent will property manage the Acquisition Portfolio and collect industry standard fees. The acquisition will be financed with a combination of cash and new short term debt of approximately $190.1 million. The acquisition is expected to close on January 28, 2021. The properties are all located in highly desirable, amenity-rich neighbourhoods with a weighted average walk score of 90.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210111005384/en/

(Photo: Business Wire)

(Photo: Business Wire)

The Acquisition Portfolio provides InterRent with a unique opportunity to acquire critical mass and scale in Vancouver, Canada’s third largest rental market. The Vancouver rental market has historically demonstrated strong fundamentals; over the past five-years, the average vacancy rate has been at or below 1.1% and rental rates have grown at a CAGR of 5.9% per year. The expanding tech sector and its outsized proportionate share of immigration all support a very robust demand for multifamily housing in Vancouver. The Canadian government announced increases to the national immigration targets on October 30, 2020. These updated targets represent an increase of 50,000 additional permanent residents per year for 2021 and 2022. Management believes that Vancouver will continue to receive a disproportionately large share of immigrants moving to Canada.

The Acquisition Portfolio consists of 15 properties, from 6 vendors, comprising of 614 residential suites. Nine of the properties are concrete mid-rise apartments and six of the properties are wood frame apartments. The properties are in premium locations in the Metro Vancouver submarkets of the West End, Kitsilano/Point Grey, Marpole, and South Granville. The properties are situated in core locations within prominent neighborhoods offering superior walkability, access to transit, major employment, recreational amenities, universities, and downtown Vancouver (see map of properties on following page).

“We are thrilled to enter the Vancouver market, with scale, through the acquisition of this institutional-quality portfolio that is extremely well-located. The Vancouver rental market continues to exhibit strong, sustainable market fundamentals, with exposure to a growing tech sector. We look forward to enhancing these properties with our best-in-class management platform, customer service and community-focused approach. This is a market we have targeted for a long time. We are very pleased to partner with a best-in-class team like Crestpoint for this portfolio” said Mike McGahan, CEO of InterRent.

“The multifamily space has been an area of interest for Crestpoint and to enter this sector for the first time through a well diversified portfolio in one of the most sought after cities in the world is a tremendous opportunity. There is a real benefit to combining forces with a highly reputable, experienced operator like InterRent, and the addition of these assets should provide long term benefits to Crestpoint’s growing portfolio while providing a springboard to accumulate numerous properties in the multifamily sector, across Canada” said Kevin Leon, President and founder of Crestpoint.

Address

Neighbourhood

Suites

Elevators

Build

Walk Score1

1885 Barclay St

West End

41

1

Concrete

92

1924 Barclay St

West End

42

1

Concrete

94

1580 Haro St

West End

61

2

Concrete

96

855 Jervis St

West End

48

1

Concrete

96

1270 Nicola St

West End

37

1

Concrete

91

1461 Harwood St

West End

38

1

Concrete

83

1326 W 13th Ave

South Granville

30

1

Concrete

91

1355 W 14th Ave

South Granville

28

1

Concrete

87

2280 W 6th Ave

Kitsilano

43

1

Wood

94

2040 York Ave

Kitsilano

54

1

Wood

95

4640 W 10th Ave

West Point Grey

14

1

Concrete

84

8675 French St

Marpole

72

1

Concrete/Wood

89

8740 Cartier St

Marpole

35

1

Wood

78

8790 Cartier St

Marpole

35

1

Wood

85

1373 W 73rd Ave

Marpole

36

1

Wood

80

Total/Weighted Average

 

614

16

 

90

1Source: walkscore.com

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.

InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

About Crestpoint Real Estate Investments Ltd.

Crestpoint Real Estate Investments Ltd. is a commercial real estate investment manager, with $5.3 billion of gross assets under management, dedicated to providing investors with direct access to a diversified portfolio of commercial real estate assets. Crestpoint is part of the Connor, Clark & Lunn Financial Group, a multi-boutique asset management company that provides investment management products and services to institutional and high net-worth clients. With offices across Canada and in Chicago, New York and London, Connor, Clark & Lunn Financial Group and its affiliates are collectively responsible for the management of over $85 billion in assets. For more information, please visit: www.crestpoint.ca

Forward Looking Statements

This news release contains “forward-looking statements” within the meaning applicable to Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. InterRent is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. A full description of these risk factors can be found in InterRent’s most recently publicly filed information located at www.sedar.com. InterRent cannot assure investors that actual results will be consistent with these forward looking statements and InterRent assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Mike McGahan

Chief Executive Officer

Tel: (613) 569-5699 Ext 244

Fax: (613) 569-5698

e-mail: [email protected]

Brad Cutsey, CFA

President

Tel: (613) 569-5699 Ext 226

Fax: (613) 569-5698

e-mail: [email protected]

Curt Millar, CPA, CA

Chief Financial Officer

Tel: (613) 569-5699 Ext 233

Fax: (613) 569-5698

e-mail: [email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: REIT Finance Banking Professional Services Construction & Property

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Dexcom Reports Preliminary, Unaudited Revenue for the Fourth Quarter and Fiscal Year 2020 and Provides Initial 2021 Outlook

Dexcom Reports Preliminary, Unaudited Revenue for the Fourth Quarter and Fiscal Year 2020 and Provides Initial 2021 Outlook

SAN DIEGO–(BUSINESS WIRE)–DexCom, Inc. (Nasdaq: DXCM), the leader in continuous glucose monitoring (“CGM”), today reported that it expects preliminary, unaudited revenue for the fourth quarter ended December 31, 2020 to meet or exceed $567 million, an increase of 23% over the fourth quarter of 2019. U.S. revenue is expected to be approximately $451 million, representing growth of 20% over the fourth quarter of 2019. International revenue is expected to be approximately $116 million, an increase of 33% over the fourth quarter of 2019.

For fiscal 2020, total preliminary, unaudited revenue is expected to meet or exceed $1.925 billion, an increase of more than 30% over 2019.

“Dexcom demonstrated its resilience in the face of the unique challenges of 2020, delivering revenue growth of nearly $450 million over 2019 and making several significant steps to extend our growth opportunity well into the future. I am incredibly proud of the work of our teams and want to express my gratitude to our employees for prioritizing the care of our customers and service to our communities throughout the year,” said Kevin Sayer, Dexcom’s Chairman, President and CEO. “2021 is shaping up to be an exciting year for Dexcom and we look forward to updating you on our continued progress.”

2021 Outlook

For 2021, Dexcom currently anticipates total revenue of approximately $2.21 billion to $2.31 billion, representing expected growth of approximately 15% to 20% over 2020. This growth outlook considers sensor volume growth driven by increasing CGM awareness for people with Type 1 and Type 2 diabetes, continued international expansion, shifting channel mix and overall market dynamics.

Dexcom will provide further details related to its 2021 financial expectations on the fourth quarter earnings call.

Fourth Quarter 2020 Financial Results Conference Call

Dexcom will report its audited full fourth quarter and fiscal 2020 financial results on Thursday, February 11, 2021 after the close of market. Management is currently scheduled to host a conference call at 4:30 p.m. (Eastern Time) that day. More details will be provided later.

About DexCom, Inc.

DexCom, Inc. empowers people to take control of diabetes through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, California, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom simplifies and improves diabetes management around the world.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements that are not purely historical regarding Dexcom’s or its management’s intentions, beliefs, expectations and strategies for the future, including those related to Dexcom’s expected revenue for the fourth quarter of and the full fiscal year 2020, estimated revenue for fiscal 2021, expected 2021 growth in sensor volumes and international revenue All forward-looking statements included in this press release are made as of the date of this release, based on information currently available to Dexcom, deal with future events, are subject to various risks and uncertainties, and actual results could differ materially from those anticipated in those forward-looking statements. The risks and uncertainties that may cause actual results to differ materially from Dexcom’s current expectations are more fully described in Dexcom’s Annual Report on Form 10-K for the period ended December 31, 2019, as filed with the Securities and Exchange Commission on February 13, 2020, its most recent quarterly report on Form 10-Q for the period ended September 30, 2020, as filed with the Securities and Exchange Commission on October 27, 2020, and its other reports, each as filed with the Securities and Exchange Commission. Except as required by law, Dexcom assumes no obligation to update any such forward-looking statement after the date of this report or to conform these forward-looking statements to actual results.

Steven R. Pacelli

Executive Vice President, Strategy and Corporate Development

(858) 200-0200

www.dexcom.com

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Biotechnology Diabetes Medical Devices Health Medical Supplies

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Altius Participates in Lithium Royalty Corporation Financing

Altius Participates in Lithium Royalty Corporation Financing

ST. JOHN’S, Newfoundland and Labrador–(BUSINESS WIRE)–Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) is pleased to provide the following update:

Lithium Royalty Corporation (“LRC”)

LRC, of which Altius is a 12.6% founding level investor, has agreed to a US$40 million investment by New York based private equity firm Riverstone Holdings, part of a larger US$70.7 million offering by LRC. Pursuant to this investment Altius has exercised its pro-rata equity participation right (through investments in affiliated limited partnership LRC LP I) by committing an additional US$7.6 million. Altius also continues to maintain a direct 10% co-participation right with respect to future LRC royalty level investments and a board nomination right.

Lithium Royalty Corporation was founded in May 2018 as a private royalty and streaming company focused on the lithium mining sector. It is managed through Waratah Capital Advisors Ltd. and led by CEO Ernie Ortiz. Since inception, LRC has acquired four pre-feasibility through production stage royalties including both brine and spodumene based projects that are located in Australia, Brazil and Argentina.

Lithium Royalty Portfolio Highlights

Mount Cattlin (Galaxy Resources Limited, ASX:GXY, Producing)

The Mount Cattlin royalty was acquired by LRC in June 2018 and is composed of a A$1.50 per tonne royalty on ore mined and treated from the Mount Cattlin Project.

Mount Cattlin is a reliable, low-cost producer of high-quality lithium concentrate located two kilometres north of the town of Ravensthorpe in Western Australia. Conventional mining and processing techniques are used for Mount Cattlin with open-pit mining of a relatively flat-lying pegmatite ore body. The Mount Cattlin operation produces a lithium concentrate (spodumene) product with up to a 6.0% Li2O grade that is trucked to Esperance Port for export. Spodumene concentrate production is anticipated to reach 100-110,000 tonnes in 2020 with a further increase for 2021 currently under consideration. For further information visit www.gxy.com

In operation since 2011, Galaxy has increased mineral resources by 42% since the time of LRC’s royalty acquisition. As at 31 December 2019, Mt Cattlin had a Mineral Resource of 14.6Mt at 1.29% Li2O and an Ore Reserve of 8.2 Mt @ 1.29% Li2O https://gxy.com/wp-content/uploads/2020/05/44fxrbh0l5ypmj.pdf

Grota do Cirilo (Sigma Lithium Resources Inc.,TSXV:SIGMA, Project Finance stage)

LRC acquired a 1% Gross Overriding Royalty on Sigma Lithium’s Grota do Cirilo project in December 2018. Altius has exercised its 10% co-participation right with respect to this acquisition.

Located in Minas Gerais state, Brazil, the Grota do Cirilo project has been producing battery-grade lithium concentrate on a pilot scale since 2018 and shipping high-grade Li2O coarse lithium concentrate samples to potential customers in Asia. Based on the technical report titled “Grota do Cirilo Lithium Project, Araçuaí and Itinga Regions, Minas Gerais, Brazil, National Instrument 43-101 Technical Report on Feasibility Study Final Report” dated October 18 2019, a commercial-scale lithium concentrate production plant is expected to begin construction in 2021 and commence operations in the first quarter of 2022. The Phase 1 plan outlined in the technical report envisions annual production of 220,000 tonnes of lithium concentrate while Sigma expects to be amongst the lowest-cost producers of battery-grade lithium concentrate globally.

Since mid 2020, Sigma Lithium has signed a term sheet for a US$45 million senior secured project finance facility with Société Generale, completed a US$13.3 million dollar equity financing and obtained a C$18.75M credit line from the Development Bank of the state of Minas Gerais.

For further information visit www.sigmalithiumresources.com

Tres Quebradas (Neo Lithium Corp., TSXV:NLC, Definitive Feasibility stage)

LRC acquired a 1% Gross Overriding Royalty on Neo Lithium’s Tres Quebradas (“3Q”) lithium brine project in June 2018. Altius has exercised its 10% co-participation right with respect to this acquisition.

Located in Catamarca Province, the main lithium producing province in Argentina, 3Q is ranked as one of the top five largest and top three highest-grade lithium brine deposits in the world. A Pre-Feasibility Study filed in May of 2019 pursuant to National Instrument 43-101 guidelines outlines the use of established processes and technologies to process brine into battery grade lithium carbonate. The report outlines average annual production of lithium carbonate of 20,000 tonnes over a 35 year project life resulting in a US$1.144 billion NPV(8%) on initial capital expenditures of US$318 million.

Neo Lithium has invested CAD$60 million into the project to date and has produced battery grade lithium chemicals from its pilot plant in Fiambala, Argentina. The company expects to complete its definitive feasibility study in 2021. The company recently closed a strategic investment with CATL, China’s largest battery producer, providing CATL with an ~8% equity stake in Neo Lithium.

For further information visit www.neolithium.ca

Finniss (Core Lithium Ltd., ASX:CXO, Definitive Feasibility stage)

LRC acquired a 2.5% Gross Overriding Royalty on Core Lithium’s feasibility stage Finniss Project in June 2019.

Finniss is located in the Northern Territory, Australia within 25km of power and rail and is 1 hour by sealed road to Darwin Port – Australia’s nearest port to Asia. The company is targeting 175,000 tonnes of spodumene concentrate production per year and is expected to be one of Australia’s lowest cost projects. (see DFS presentation: https://wcsecure.weblink.com.au/pdf/CXO/02097337.pdf)

The company increased its Mineral Resource by 52% earlier this year. The company is a member of the European Battery Alliance and has announced strategic offtake arrangements with customers in Europe and Asia. The company is targeting Final Investment Decision (FID) in 2021.

For further information, please visit www.corelithium.com.au

About Altius

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 41,477,653 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.

Forward-Looking Information

This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management’s expectations. In certain cases, forward‐looking information may be identified by such terms as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “shall”, “will”, or “would”. Although Altius believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.

Flora Wood

Email: [email protected]

Tel: 1.877.576.2209

Direct: +1(416)346.9020

Ben Lewis

Email: [email protected]

Tel: 1.877.576.2209

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Professional Services Other Energy Mining/Minerals Energy Finance Natural Resources

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Scholar Rock Provides Corporate Update and Highlights Priorities for 2021

Scholar Rock Provides Corporate Update and Highlights Priorities for 2021

– TOPAZ Phase 2 trial evaluating apitegromab in spinal muscular atrophy on-track to report top-line results from the 12-month treatment period in 2Q21

– SRK-181 DRAGON Phase 1 trial enrolling patients with solid tumors in Part A2; initial clinical response and safety data anticipated 2H21

– Ended 2020 with approximately $340 million in cash, cash equivalents, and marketable securities

CAMBRIDGE, Mass.–(BUSINESS WIRE)–
Scholar Rock (NASDAQ: SRRK), a clinical-stage biopharmaceutical company focused on the treatment of serious diseases in which protein growth factors play a fundamental role, today provided a corporate update and highlighted priorities for 2021.

“2020 was a transformative year for Scholar Rock with significant progress made both clinically and operationally with positive interim data from the TOPAZ trial providing initial proof-of-concept of apitegromab’s potential in SMA and showing the potential benefit of inhibiting the latent forms of growth factors,” said Tony Kingsley, President and CEO of Scholar Rock. “In 2021, we will further elucidate the potential of our product candidates through data from our TOPAZ Phase 2 trial in SMA and our DRAGON Phase 1 trial in cancer immunotherapy as well as build upon our scientific platform towards additional indications.”

2021 Expected Milestones:

Apitegromab is a highly selective inhibitor of latent myostatin activation being developed as the potential first muscle-directed therapy for the treatment of spinal muscular atrophy (SMA).

  • Top-line Efficacy and Safety Data from TOPAZ Phase 2 Trial in SMA Anticipated in 2Q21. A total of 58 patients were enrolled across the three cohorts of the TOPAZ clinical trial with one discontinuation to date. Positive six-month interim analysis data were announced in October 2020, demonstrating apitegromab’s potential to improve motor function in patients with Type 2 and Type 3 SMA. The top-line 12-month efficacy and safety data are expected in the second quarter of 2021.

As of January 8, 2021, 56 patients have completed the 12-month study and all 56 have opted into the extension period.

  • Identification of Second Indication for Apitegromab Planned for 2021. With the demonstration of initial proof-of-concept from the TOPAZ interim analysis, Scholar Rock is actively evaluating multiple other disorders for which the selective inhibition of the activation of myostatin may offer therapeutic benefit.

SRK-181is a potent and highly selective inhibitor of latent transforming growth factor beta 1 (TGFβ1) activation being developed with an aim of overcoming resistance to and increasing the number of patients who may benefit from, checkpoint inhibitor therapy.

  • Initial Clinical Response and Safety Data from the DRAGON Trial are Anticipated in the Second Half of 2021. SRK-181 is being evaluated in the two-part DRAGON Phase 1 trial in patients with locally advanced or metastatic solid tumors exhibiting primary resistance to anti-PD-(L)1 therapy. Dose escalation in Part A of the DRAGON trial is progressing with the highest planned dose of 2400 mg now being evaluated in Part A1 (SRK-181 as a single-agent) and the 800 mg dose being currently evaluated in Part A2 (SRK-181 in combination with an approved anti-PD-(L)1 therapy).

The DRAGON trial is anticipated to advance to Part B in the second quarter of 2021, which is expected to encompass multiple cohorts, including urothelial carcinoma, cutaneous melanoma, non-small cell lung cancer, and other solid tumors. Each cohort will enroll up to 40 patients with locally advanced or metastatic solid tumors for which they have been treated with an approved anti-PD-(L)1 therapy and have demonstrated primary resistance. Patients in Part B will be treated with SRK-181 in combination with an approved anti-PD-(L)1 therapy.

“We enter 2021 with positive momentum across our programs. We believe we’ve demonstrated the potential of our novel scientific approach to treating a wide array of disease areas for which growth factors play a critical role in disease progression,” said Ted Myles, CFO and Head of Business Operations of Scholar Rock. “Our strong balance sheet, which can fund operations into 2023, provides flexibility as we continue to invest in developing important therapies for patients in need.”

About Scholar Rock

Scholar Rock is a clinical-stage biopharmaceutical company focused on the discovery and development of innovative medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. Scholar Rock is creating a pipeline of novel product candidates with the potential to transform the lives of patients suffering from a wide range of serious diseases, including neuromuscular disorders, cancer, fibrosis and anemia. Scholar Rock’s approach to targeting the molecular mechanisms of growth factor activation enabled it to develop a proprietary platform for the discovery and development of monoclonal antibodies that locally and selectively target these signaling proteins at the cellular level. By developing product candidates that act in the disease microenvironment, the Company intends to avoid the historical challenges associated with inhibiting growth factors for therapeutic effect. Scholar Rock believes its focus on biologically validated growth factors may facilitate a more efficient development path. For more information, please visit www.ScholarRock.com or follow Scholar Rock on Twitter (@ScholarRock) and LinkedIn (https://www.linkedin.com/company/scholar-rock/).

Scholar Rock® is a registered trademark of Scholar Rock, Inc.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Scholar Rock’s future expectations, plans and prospects, including without limitation, Scholar Rock’s expectations regarding its growth, strategy, progress and timing of its clinical trials for apitegromab, SRK-181, and other product candidates and indication selection and development timing, its cash runway, the ability of any product candidate to perform in humans in a manner consistent with earlier nonclinical, preclinical or clinical trial data, and the potential of its product candidates and proprietary platform.The use of words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify such forward-looking statements. All such forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include Scholar Rock’s ability to provide the financial support, resources and expertise necessary to identify and develop product candidates on the expected timeline, the data generated from Scholar Rock’s nonclinical and preclinical studies and clinical trials, competition from third parties that are developing products for similar uses, Scholar Rock’s ability to obtain, maintain and protect its intellectual property, the success of Scholar Rock’s current and potential future collaborations, including its collaboration with Gilead, Scholar Rock’s dependence on third parties for development and manufacture of product candidates including to supply any clinical trials, Scholar Rock’s ability to manage expenses and to obtain additional funding when needed to support its business activities and establish and maintain strategic business alliances and new business initiatives, and the impacts of public health pandemics such as COVID-19 on business operations and expectations, as well as those risks more fully discussed in the section entitled “Risk Factors” in Scholar Rock’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, as well as discussions of potential risks, uncertainties, and other important factors in Scholar Rock’s subsequent filings with the Securities and Exchange Commission. Any forward-looking statements represent Scholar Rock’s views only as of today and should not be relied upon as representing its views as of any subsequent date. All information in this press release is as of the date of the release, and Scholar Rock undertakes no duty to update this information unless required by law.

Investors/Media

Catherine Hu

[email protected]

917-601-1649

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Pharmaceutical Health Clinical Trials

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Syros Announces Strategic Priorities and Expected Milestones

Syros Announces Strategic Priorities and Expected Milestones

On Track to Initiate Three Clinical Trials in 2021 Across Franchise of Targeted Hematology Therapies, Including Phase 3 Trial for SY-1425 in MDS

Additional Data from Dose-Escalation Trial of SY-5609 Expected in Q3 2021, with Expansion Phase of Trial Expected to Begin in 2H 2021

Cash Runway into Second Half of 2022, Through Multiple Potential Value Drivers

CAMBRIDGE, Mass.–(BUSINESS WIRE)–
Syros Pharmaceuticals (NASDAQ:SYRS), a leader in the development of medicines that control the expression of genes, today outlined its strategic priorities and expected upcoming milestones.

“Syros is rapidly accelerating toward becoming a commercial-stage company through three strategic priorities: advancing franchises in targeted hematology and selective CDK inhibition, as well as leveraging a robust gene control discovery engine to fuel our long-term growth,” said Nancy Simonian, M.D., Syros’ Chief Executive Officer. “As we enter the new year, we are well-positioned to execute against each of these strategic priorities. We plan to launch three clinical trials across our portfolio of targeted hematology therapies in patients with higher-risk MDS, AML and APL, indications where we have the opportunity to set new standards of care.”

“In parallel, we continue to build on our leadership in selective CDK inhibition, where we believe we can deliver highly selective product candidates with transformative potential for difficult-to-treat cancers. We are on track to report additional dose-escalation data, including clinical activity, from our Phase 1 trial of SY-5609 in the third quarter and move into the expansion phase of the trial in the second half of the year. These milestones bring us closer to our ultimate goal of bringing targeted therapies to market that provide profound benefits for patients with diseases that have eluded other approaches.”

Expected Milestones

SY-1425: Oral RARα agonist

  • Initiate Phase 3 trial of SY-1425 in combination with azacitidine in the first quarter of 2021 in RARA-positive patients with newly diagnosed higher-risk myelodysplastic syndrome (HR-MDS).
  • Initiate randomized Phase 2 trial of SY-1425 in combination with venetoclax and azacitidine in the second half of 2021 in RARA-positive newly diagnosed acute myeloid leukemia (AML) patients who are not suitable candidates for standard intensive chemotherapy.

SY-2101: Oral arsenic trioxide (ATO)

  • Initiate dose confirmation study of SY-2101 in the second half of 2021.
  • Initiate Phase 3 trial in patients with newly diagnosed acute promyelocytic leukemia (APL) in 2022.

SY-5609: Oral CDK7 inhibitor

  • Report additional dose-escalation data, including clinical activity data, in the third quarter of 2021 from the ongoing Phase 1 trial of SY-5609 in patients with breast, colorectal, lung, ovarian and pancreatic cancers, as well as in patients with solid tumors of any histology harboring Rb pathway alterations.
  • Initiate expansion portion of Phase 1 trial in the second half of 2021.

Gene control discovery engine

  • Expect to nominate next development candidate in 2022.

Financial Guidance

Syros ended the year with approximately $174 million in cash, cash equivalents and marketable securities1, which the company believes is sufficient to fund its anticipated operating expenses and capital expenditure requirements into the second half of 2022.

About Syros Pharmaceuticals

Syros is redefining the power of small molecules to control the expression of genes. Based on its unique ability to elucidate regulatory regions of the genome, Syros aims to develop medicines that provide a profound benefit for patients with diseases that have eluded other genomics-based approaches. Syros is advancing a robust clinical-stage pipeline, including SY-1425, a first-in-class oral selective RARα agonist in RARA-positive patients with higher-risk myelodysplastic syndrome and acute myeloid leukemia, SY-2101, a novel oral form of arsenic trioxide in patients with acute promyelocytic leukemia, and SY-5609, a highly selective and potent oral CDK7 inhibitor in patients with select solid tumors. Syros also has multiple preclinical and discovery programs in oncology and monogenic diseases. For more information, visit www.syros.com and follow us on Twitter (@SyrosPharma) and LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including without limitation statements regarding Syros’s clinical development plans, including with respect to SY-1425, SY-2101 and SY-5609, the timing of anticipated data readouts from its clinical trials, the timing of nomination of Syros’s next development candidate, Syros’s estimates regarding its balance of cash, cash equivalents and marketable securities for the year ended December 31, 2020, and the sufficiency of Syros’ capital resources to fund its operating expenses and capital expenditure requirements into the second half of 2022. The words ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ “hope,” ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘target,’’ ‘‘should,’’ ‘‘would,’’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including Syros’ ability to: advance the development of its programs, including SY-1425, SY-2101 and SY-5609, under the timelines it projects in current and future clinical trials; demonstrate in any current and future clinical trials the requisite safety, efficacy and combinability of its drug candidates; sustain the response rates and durability of response seen to date with its drug candidates; successfully develop a companion diagnostic test to identify patients with the RARA biomarker; obtain and maintain patent protection for its drug candidates and the freedom to operate under third party intellectual property; obtain and maintain necessary regulatory approvals; identify, enter into and maintain collaboration agreements with third parties; manage competition; manage expenses; raise the substantial additional capital needed to achieve its business objectives; attract and retain qualified personnel; and successfully execute on its business strategies; risks described under the caption “Risk Factors” in Syros’ Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, each of which is on file with the Securities and Exchange Commission; and risks described in other filings that Syros makes with the Securities and Exchange Commission in the future. In addition, the extent to which the COVID-19 outbreak continues to impact Syros’ workforce and its clinical trial operations activities, and the operations of the third parties on which Syros relies, will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration and severity of the outbreak, additional or modified government actions, and the actions that may be required to contain the virus or treat its impact. Any forward-looking statements contained in this press release speak only as of the date hereof, and Syros expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.

1 Cash, cash equivalents and marketable securities at December 31, 2020 are unaudited and preliminary.

Media Contact:

Naomi Aoki

Syros Pharmaceuticals

617-283-4298

[email protected]

Investor Contact:

Hannah Deresiewicz

Stern Investor Relations, Inc.

212-362-1200

[email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health Clinical Trials

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