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Alaska Air Group board of directors appoints Daniel Elwell as newest member

PR Newswire

SEATTLE, Jan. 21, 2021 /PRNewswire/ — Alaska Air Group announced today the appointment of Daniel Elwell to the company’s board of directors, effective immediately. Elwell will also join the boards of directors of the company’s airline subsidiaries Alaska Airlines, Inc. and Horizon Air Industries, Inc.

Elwell, a former military and commercial pilot, served as Deputy and Acting Administrator of the Federal Aviation Administration from June 2017 to November 2020, where he was responsible for the safety and efficiency of the largest aerospace system in the world, which operates more than 50,000 flights a day. Elwell also had oversight of the FAA’s multibillion-dollar NextGen air traffic control modernization program to accelerate the shift from ground-based radar to state-of-the-art satellite technology with operational, community and environmental benefits.

“We are thrilled to have someone with Dan’s expertise and background in the airline and aviation industry join our board,” said Brad Tilden, Alaska Air Group Chair and CEO. “He has been a pilot, public servant and innovator to advance aviation safety in our country – a value we hold dear. At a both critical and exciting time in our industry, Dan clearly understands the challenges and opportunities ahead, and we welcome his trusted perspective and ideas.”

Elwell will have a seat on the board’s audit and innovation committees. His appointment increases the number of independent directors from 11 to 12. The total board is comprised of 14 members, with the other two positions filled by Tilden and Alaska Airlines President Ben Minicucci.  

Prior to his appointment as Deputy and Acting Director of the FAA, Elwell was Senior Advisor on Aviation to former U.S. Secretary of Transportation Elaine L. Chao. Elwell also previously served at the FAA as the Assistant Administrator for Policy, Planning and Environment from 2006-2008. Earlier in his career, he served as a legislative fellow for the late Sen. Ted Stevens (R-Alaska).

From 2013-2015, as Senior Vice President for Safety, Security and Operations at Airlines for America (A4A), Elwell was responsible for leading the advancement of commercial aviation safety and security excellence for major U.S. air carriers. Prior to A4A, Elwell was Vice President of the Aerospace Industries Association (AIA) from 2008-2013 where he represented civil aerospace manufacturers and led policy development and advocacy for the civil aerospace manufacturing interests.

Elwell was a commercial pilot for 16 years with American Airlines, flying DC-10, MD-80, and Boeing 757 and 767 aircraft. While maintaining his proficiency as an MD-80 captain, he served as Managing Director for International and Government Affairs at American Airlines. Elwell earned his pilot wings at Williams Air Force Base in Arizona after graduating from the U.S. Air Force Academy with a Bachelor of Science degree in International Affairs. As a lieutenant colonel, he retired from military service as a Command Pilot with more than 6,000 hours combined civilian and military flight time in the U.S. Air Force and U.S. Air Force Reserve, including combat service during Operation Desert Storm.

About Alaska Airlines
Alaska Airlines and its regional partners serve more than 115 destinations across the United States and North America. The airline provides essential air service for our guests along with moving crucial cargo shipments, while emphasizing Next-Level Care. Alaska is known for low fares, award-winning customer service and sustainability efforts. Guests can earn and redeem miles on flights to more than 800 destinations worldwide with Alaska and its Global Partners. On March 31, 2021, Alaska will officially become a member of the oneworld global alliance. Learn more about Alaska at newsroom.alaskaair.com and blog.alaskaair.com. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK).

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SOURCE Alaska Airlines

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Out-of-Towners Moving Into Nashville, Atlanta and Austin Have More Than 30% Bigger Homebuying Budgets Than Locals

Out-of-towners have bigger budgets than locals in 31 of the 34 cities included in Redfin’s analysis, and they’re driving up home prices

PR Newswire

SEATTLE, Jan. 21, 2021 /PRNewswire/ — (NASDAQ: RDFN) — Nashville tops the list of cities with the biggest budget difference between out-of-town and local homebuyers, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. The average housing budget for out-of-towners moving to Nashville in 2020 was $719,500, 48% higher than the $485,500 average budget for local buyers. Next come Atlanta, where out-of-towners had an average budget of $698,000, 33% higher than the local budget, and Austin, where the average out-of-towner had an $852,500 budget, 32% higher than locals. 

The report is based on a Redfin analysis of the average maximum list-price filters for homes set by Redfin.com users in their saved searches.

“Many homebuyers are now able to widen their searches to parts of the country that weren’t options when they were tied to offices in expensive cities, and the consequences for popular destinations will be numerous,” said Redfin chief economist Daryl Fairweather. “That’s great news for remote workers because their San Francisco salary can buy a lot more in Nashville or Austin than the Bay Area. And for locals, the influx of wealthy homebuyers is both good news and bad news. Homeowners will see the value of their homes rise, but first-time homebuyers will face tougher competition from out-of-towners with big budgets. Local economies will change as well, with people like construction workers, plumbers, childcare workers and landscapers seeing increased demand and increased prices for their services—but that would mean higher prices for locals as well.”

The Nashville, Atlanta and Austin metros are all perennially on the top 10 list of most popular destinations for Redfin.com users moving from one metro area to another, and the number of people looking to move to each place increased by more than 40% year over year in late 2020. Homes in those metros are relatively affordable, though prices have been rising over the last several years. The typical home in Nashville sold for $330,000 in December, up 5.1% from $314,000 in December 2019. The median home-sale price in Atlanta was $285,000 in December (+13.7% YoY from $250,000), and in Austin it was $370,000 (+15.2% YoY from $321,000).

Californians are driving up home prices in Nashville and Austin

Nashville Redfin agent Mike Estes said he works with people moving in from Los Angeles, New York and Chicago on a weekly basis, and the number of  wealthy out-of-towners has increased over the last year as remote work exacerbates migration.

“I’ve lived in Nashville for 14 years and the joke is that $500,000 to $700,000 is the new $300,000 to $500,000,” said Estes. “But those who have lived in the area for many years typically can’t afford to spend $500,000 to $700,000 on a home, and they often move into the suburbs or even farther out to find a home within their budget. Local homeowners are pleased with the increase in their property values, but they aren’t always able to capitalize on it because they can’t afford to buy in the same hot market. Meanwhile, people moving in from Los Angeles tend to think $700,000 is inexpensive, and they’re shocked they can afford a 3,000-square-foot home with beautiful finishes for that price.” 

Austin was the most common destination for Redfin.com users looking to move to a different metro at the end of 2020, the first time the Texas capital topped the list. Nearly 150% more people looked to move into Austin in the fourth quarter of 2020 than the same time period a year before. 

“My nickname for Austin is Texa-fornia because so many people are moving in from California,” said Sabrina Archolecas, senior asset manager for the Texas branch of RedfinNow, Redfin’s iBuying business. “Buyers’ agents are taking lawn chairs to showings because lines to get into properties are so long. People moving in from other parts of the country are making the market incredibly competitive and driving up prices like agents have never seen. One recent four-bedroom, 3,200-square-foot listing in Austin had 16 offers in one weekend; the list price was $575,000 and it sold for $638,000.”

The Bay Area is the only place where locals have higher budgets than out-of-towners

Locals had higher budgets than migrants in just three of the 34 cities included in this analysis: San Francisco, San Jose and Fremont, CA (a city in the Oakland metro), all cities where migrants and locals alike have homebuying budgets well over $1 million. The average budget for a local in San Francisco was $1.76 million in 2020, 4.1% higher than the $1.69 million average budget for out-of-towners. 

The fact that locals had slightly higher budgets than migrants in those three cities is likely because the Bay Area has the highest median income in the U.S.


Average budgets of Redfin.com home searchers, out-of-towners versus locals, 2020


Ranking: Cities at the top of the list have bigger average budgets for migrants

City

Average maximum
budget for
migrants
(Redfin.com saved
searches)

Average
maximum budget
for locals
(Redfin.com saved
searches)

Percent
difference
between
budgets for
migrants over
locals

Median sale
price (Metro
area, Decembe
r 2020)

Nashville, TN

$719,488

$485,598

48.2%

$329,900

Atlanta, GA

$697,922

$523,193

33.4%

$284,700

Austin, TX

$852,276

$644,771

32.2%

$370,000

Houston, TX

$569,725

$434,284

31.2%

$273,000

New York, NY

$1,013,778

$798,010

27%

$550,000

Denver, CO

$882,266

$698,795

26.3%

$452,000

San Antonio,
TX

$461,971

$372,357

24.1%

$262,500

Philadelphia,
PA

$509,318

$412,159

23.6%

$245,000

Phoenix, AZ

$627,324

$509,059

23.2%

$240,000

Dallas, TX

$702,259

$578,801

21.3%

$323,900

Charlotte, NC

$553,857

$456,788

21.3%

$297,500

Washington,
D.C. 

$1,005,294

$849,954

18.3%

$450,000

Henderson, NV
(Las Vegas
metro)

$619,306

$524,163

18.2%

$320,000

Chicago, IL

$638,554

$549,961

16.1%

$270,000

Scottsdale, AZ
(Phoenix
metro)

$970,051

$839,704

15.5%

$240,000

Las Vegas, NV

$581,664

$503,962

15.4%

$320,000

Portland, OR

$758,683

$658,832

15.2%

$450,000

San Diego, CA

$1,139,410

$994,098

14.6%

$660,000

Sacramento,
CA

$615,886

$539,676

14.1%

$475,000

Oakland, CA

$1,233,800

$1,074,426

13.9%

$816,600

Los Angeles,
CA

$1,533,244

$1,347,995

13.7%

$730,000

Gilbert, AZ
(Phoenix
metro)

$547,422

$497,514

10%

$240,000

Boston, MA

$1,069,360

$974,973

9.7%

$550,000

Seattle, WA

$1,075,185

$1,003,120

7.2%

$625,000

Tacoma, WA 

$558,684

$528,376

5.7%

$435,000

Long Beach,
CA (Los
Angeles metro)

$885,374

$847,218

4.5%

$730,000

Baltimore, MD

$355,338

$343,119

3.6%

$305,500

Pleasanton, CA
(Oakland
metro)

$1,475,711

$1,426,303

3.5%

$816,600

Irvine, CA
(Anaheim
metro)

$1,241,524

$1,222,482

1.6%

$800,000

San Ramon,
CA (Oakland
metro)

$1,370,051

$1,356,789

1%

$816,600

Riverside, CA

$628,181

$624,971

0.5%

$450,000

Fremont, CA
(Oakland
metro)

$1,375,721

$1,420,132

-3.1%

$816,600

San Jose, CA

$1,329,339

$1,378,570

-3.6%

$1,195,000

San Francisco,
CA

$1,688,042

$1,760,206

-4.1%

$1,355,00

To read the full report, please visit: https://www.redfin.com/news/migrants-versus-locals-homebuying-budget 

About Redfin 
Redfin (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer’s favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we are the #1 nationwide brokerage website, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we’ve helped them buy or sell more than 235,000 homes worth more than $115 billion.

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

 

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SOURCE Redfin

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NexTier Announces Timing of Fourth Quarter and Full Year 2020 Earnings Release and Conference Call

PR Newswire

HOUSTON, Jan. 21, 2021 /PRNewswire/ — NexTier Oilfield Solutions Inc. (NYSE: NEX) (“NexTier” or the “Company”) today announced that it will release its fourth quarter and full year 2020 financial and operating results after market close on Monday, February 15, 2021. This release will be followed by a conference call at 7:30 a.m. Central Time (8:30 a.m. Eastern Time) on Tuesday, February 16, 2021. Hosting the call will be Robert Drummond, President and Chief Executive Officer and Kenneth Pucheu, Executive Vice President and Chief Financial Officer.

The call can be accessed via a live webcast accessible on the IR Event Calendar page in the Investor Relations section of our website at www.nextierofs.com, or live over the telephone by dialing (855) 560-2574, or for international callers, (412) 542-4160 and referencing NexTier Oilfield Solutions. A replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers, (412) 317-0088. The passcode for the replay is 10151821. The replay will be available until February 23, 2021. An archive of the webcast will be available shortly after the call on our website at www.nextierofs.com for twelve months following the call.

About NexTier Oilfield Solutions

Headquartered in Houston, Texas, NexTier is an industry-leading U.S. land oilfield service company, with a diverse set of well completion and production services across the most active and demanding basins.  Our integrated solutions approach delivers efficiency today, and our ongoing commitment to innovation helps our customers better address what is coming next.  NexTier is differentiated through four points of distinction, including safety performance, efficiency, partnership and innovation.  At NexTier, we believe in living our core values from the basin to the boardroom, and helping customers win by safely unlocking affordable, reliable and plentiful sources of energy.

Investor Contact:

Kenneth Pucheu

Executive Vice President – Chief Financial Officer

Marc Silverberg

Partner (ICR)
[email protected]

 

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SOURCE NexTier Oilfield Solutions

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Premier Financial Bancorp, Inc. Announces $1.00 Special Cash Dividend

PR Newswire

HUNTINGTON, W.Va., Jan. 21, 2021 /PRNewswire/ — PREMIER FINANCIAL BANCORP, INC. (PREMIER), (NASDAQ/GMS-PFBI) a $1.9 billion financial holding company with two community bank subsidiaries announced today that it will pay a special cash dividend of $1.00 per share on its common stock.  At its regularly scheduled January meeting, the board of directors declared a $1.00 per share special dividend to common shareholders of record on February 1, 2021.  The cash dividend will be paid to shareholders on February 5, 2021. 

President and CEO, Robert W. Walker stated, “This special dividend declared by the board is in addition to our regular quarterly dividend paid at the end of each quarter.  We are very pleased to be able to return this additional amount to our shareholders.”

Certain Statements contained in this news release, including without limitation, statements including the word “believes,” “anticipates,” “intends,” “expects” or words of similar import, constitute “forward-looking statements” within the meaning of section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from any future results, performance or achievements of Premier expressed or implied by such forward-looking statements.  Such factors include, among others, general economic and business conditions, changes in business strategy or development plans and other factors referenced in this press release.  Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements.  Premier disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.

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SOURCE Premier Financial Bancorp, Inc.

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Compact Membrane Systems, Inc. and Braskem Finalize Agreement for Pilot-Scale Demonstration of Optiperm™

Optiperm™ is a disruptive technology for olefin-paraffin separation aimed at delivering higher production yields while decreasing waste streams, lowering carbon emissions, and reducing energy usage

PR Newswire

PHILADELPHIA, Jan. 21, 2021 /PRNewswire/ — Compact Membrane Systems, Inc. (CMS) and Braskem (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), the largest polyolefins producer in the Americas and a leading producer of biopolymers in the world, are pleased to announce the finalization of their joint development agreement for a pilot-scale demonstration of CMS’ proprietary Optiperm™ olefin-paraffin separation technology.

Optiperm™, CMS’ breakthrough membrane technology, is designed to increase olefin production efficiency while decreasing waste streams, lowering carbon emissions, and reducing total energy usage. The modular nature of membranes allows olefin recovery from small and large process streams alike, debottlenecking processes and leveraging existing infrastructure in a more energy-efficient manner. CMS and Braskem recognize that capturing olefins from unused hydrocarbon process streams is essential to decreasing environmental impact while continuing to create the chemical building blocks for plastic resins and chemical products for diverse customer segments, such as healthcare and hygiene, food packaging, construction, manufacturing, automotive, agribusiness, among others.

“CMS is excited to start executing on this project. Braskem has a history of recognizing and deploying cutting edge technology, making them an industry leader in innovation. An ideal partner for Optiperm™ deployment, Braskem has the ability and vision to implement the technology to realize its full potential,” says Erica Nemser, CEO of Compact Membrane Systems.

This will be the second field demonstration of Optiperm™ and the technology is applicable in a variety of processes.  This project will address the critical milestones of simultaneously producing high purity (>90%) paraffin and olefin rich streams, commercial scale membrane cartridges, and implementation of a proprietary humidification method. Zeton, the world’s leading designer and builder of lab scale systems, pilot plants, demonstration plants and modular systems, has been selected to lead the pilot plant construction which is expected to begin in the first quarter of 2021. 

According to Gus Hutras, Braskem’s Process Technology Leader, “We share a belief with CMS that innovation is a key concept driving enhanced competitiveness and improved sustainability throughout our product chains.  Our expectation is that Optiperm™ will play an important role in Braskem’s ongoing innovation strategy.”  The pilot unit is targeted to be deployed at a Braskem production facility in 2021 and operated for a period of 500 days. The successful demonstration of its performance will pave the way for the roll out of Optiperm™ in a variety of process streams. 

ABOUT COMPACT MEMBRANE SYSTEMS, INC. (

CMS

)

Compact Membrane Systems (CMS) is dedicated to enabling the clean energy transition and improving the efficiency of chemical processing through membrane solutions. Located in Newport, DE, CMS harnesses the power of unique fluoropolymers to provide durable and effective chemical separation solutions in the toughest environments. CMS membranes can be used independently or in conjunction with existing infrastructure to recover and remonetize streams that would otherwise be undervalued or wasted. CMS technology delivers new sources of revenue and lowers costs for process industries including petrochemicals, biogas, refining, specialty chemical and pharmaceuticals.

CMS combines innovative research with practical industry know-how to deliver modular units with lower energy usage and smaller footprints than existing separation technologies. From polymer development, to product engineering, to system design, CMS has the capabilities and partnerships to deliver projects of any size. For more information or to learn more, visit www.compactmembrane.com.

ABOUT BRASKEM

With a global vision of the future oriented towards people and sustainability, Braskem is committed to contributing to the value chain for strengthening the Circular Economy. The petrochemical company’s almost 8,000 team members dedicate themselves every day to improve people’s lives through sustainable chemicals and plastics solutions. Braskem has an innovative DNA and a comprehensive portfolio of plastic resins and chemical products for diverse segments, such as food packaging, construction, manufacturing, automotive, agribusiness, healthcare and hygiene, among others. With 40 industrial units in Brazil, the United States, Mexico and Germany, and net revenue of R$52.3 billion (US$13.2 billion), Braskem exports its products to clients in more than 100 countries.

Braskem America is an indirect wholly owned subsidiary of Braskem S.A. headquartered in Philadelphia. The company is the leading producer of polypropylene in the United States, with six production plants located in Texas, Pennsylvania and West Virginia, an Innovation and Technology Center in Pittsburgh, and operations in Boston focused on leveraging groundbreaking developments in biotechnology and advanced materials. For more information, visit www.braskem.com/usa.   

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are statements that are not historical facts, and are based on our management’s current view and estimates of future economic and other circumstances, industry conditions, company performance and financial results, including Braskem’s commitments to sustainability. The words “commits,” “anticipates,” “believes,” “estimates,” “expects,” “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the implementation of operating, financing and other strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting our financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of our management and are subject to a number of risks and uncertainties, many of which are outside of our control. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.  Please refer to our annual report on Form 20-F for the year ended December 31, 2019 filed with the SEC, as well as any subsequent filings made by us pursuant to the Exchange Act, each of which is available on the SEC’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements in this presentation.

Braskem on social media:                                                       

www.facebook.com/BraskemGlobal

www.linkedin.com/company/braskem

www.twitter.com/BraskemSA

 

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SOURCE Braskem

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Hawkeye Systems hires new CFO expects the release of 10k this week

New CFO has tremendous experience with startups and public accounting.

PR Newswire

SAVANNAH, Ga., Jan. 21, 2021 /PRNewswire/ — Hawkeye Systems, Inc. (OTCQB: HWKE), a technology holding company focused on pandemic management products and services, announced today it had hired Chris Mulgrew to serve as CFO permanently for the company.

Hawkeye Systems Inc. Logo

Corby Marshall, CEO of Hawkeye, stated, “I am pleased to welcome someone with the experience and commitment of Chris to join our team and help us gain a much better handle on the timing of our filings and improve our ability to move quickly and accurately in our filings and as a public company.  Chris’s addition and the acquisition of IKON are synergistic growth drivers for the business to grow and thrive in 2021”

Mr. Mulgrew brings twenty plus years of senior-level finance, business development, and operations experience to Hawkeye Systems.  He recently served as Chief Financial Officer for an emerging oilfield service company and Strategic Advisor to a highly acquisitive SaaS company, both leading private equity-backed firms. In these roles, Christopher was instrumental in driving revenue growth, scaling finance and operations, and realizing synergies through strategic acquisitions. Over the course of Mr. Mulgrew’s career, he has held various leadership roles with successful high-growth companies, including the Shell Technology Ventures Fund and Pacific Western Brewing. Mr. Mulgrew earned an MBA from the top-ranked Jones Graduate School of Business at Rice University and a BBA in Accounting from Simon Fraser University in Canada.  Christopher is also qualified as a Chartered Public Accountant in Canada and a Certified Public Accountant in the US and has completed executive programs at the London School of Business. 

Mr. Mulgrew stated, “I am honored to be working with Corby and the entire Hawkeye Systems team to accelerate growth and deliver value for all stakeholders.” 

About Hawkeye Systems, Inc.
Hawkeye Systems, Inc. is a technology holding company focused on pandemic management products and services. The company is committed to leveraging its extensive resources supporting its ongoing mission to help our government and medical infrastructure keep civilians safe.

Forward-Looking Statements
This press release may contain “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. Such statements include, but are not limited to, any statements relating to the PPE products and sales, the potential success of the company, our growth strategy and product development including that of other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers and partners; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. Important factors that may cause the actual results to differ from those expressed within may include, but are not limited to: the success or failure of Hawkeye’s efforts to successfully market its products and services as scheduled; Hawkeye’s ability to attract and retain quality employees; the effect of changing economic conditions; increased competition; the ability of Hawkeye to obtain adequate debt or equity financing. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

For more information, please contact:
Corby Marshall, CEO
Number: +1(800)531-8799
Email: [email protected]
Website: hawkeyesystemsinc.com
Investor relations: [email protected]

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SOURCE Hawkeye Systems, Inc.

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Corteva Declares Quarterly Dividend

PR Newswire

WILMINGTON, Del., Jan. 21, 2021 /PRNewswire/ — Corteva, Inc. (NYSE: CTVA) today announced its Board of Directors has authorized a common stock dividend of 13 cents per share, payable March 15, 2021, to the Company’s shareholders of record on March 1, 2021.

E. I. du Pont de Nemours and Company Announces Preferred Stock Dividend 

The Board of Directors of E. I. du Pont de Nemours and Company (EID) declared regular preferred stock dividends of $1.12-1/2 per share on the $4.50 series preferred stock and $0.87-1/2 per share on the $3.50 series preferred stock – both payable April 23, 2021 to EID stockholders of record on April 8, 2021. EID is a wholly-owned subsidiary of Corteva, Inc.

About Corteva Agriscience
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry – including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the Company is committed to working with stakeholders throughout the food system as it fulfils its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.

Follow Corteva on Facebook, Instagram, LinkedIn, Twitter and YouTube.

Corteva Agriscience Cautionary Statement About Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “targets,” “estimates” or other words of similar meaning. All statements that address expectations or projections about the future, including statements about Corteva’s strategy for growth, product development, regulatory approval, market position, anticipated benefits of recent acquisitions, timing of anticipated benefits from restructuring actions, outcome of contingencies, such as litigation and environmental matters, expenditures, and financial results, as well as expected benefits from, the separation of Corteva from DowDuPont, are forward-looking statements.

Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond Corteva’s control. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Corteva’s business, results of operations and financial condition. Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business.

Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva’s management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in Corteva’s Annual Report on Form 10-K for the Period Ended December 31, 2019 filed with the U.S. Securities and Exchange Commission.

™ ® Trademarks of Corteva Agriscience and its affiliated companies.

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SOURCE Corteva, Inc.

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DarioHealth Announces Hiring of Leading Digital Health Innovator as Senior Vice President of Employer Sales

Digital health executive Chris Chan held prior roles at Mercer, Willis Towers Watson, and SleepQuest

PR Newswire

NEW YORK, Jan. 21, 2021 /PRNewswire/ — DarioHealth Corp. (Nasdaq: DRIO), a pioneer in the global digital therapeutics (DTx) market, announced today the appointment of Chris Chan as Senior Vice President of Employer Sales. Mr. Chan will be responsible for leading growth initiatives in the self-insured employer market. Mr. Chan brings a unique perspective and strong understanding of the self-insured employer marketplace for digital health and DTx solutions.

Mr. Chan was most recently Chief Marketing Officer at SleepQuest; a sleep apnea focused technology and telehealth company. Prior to that role, Mr. Chan was a founding member, team leader, and innovation imaginer at Mercer LABS, where he worked with employers to evaluate digital health startups, care delivery improvement, condition management, workforce strategy, and benefit design. He also served as founder and creative director of the Health Imagination Innovation Team at Willis Towers Watson. In this role, Mr. Chan grew sales and created a global innovation network of consultants working on projects related to emerging trends, behavioral economics, gamification, big data, wearable devices, and incentive design.

“Chris brings an extensive network of senior-level relationships and a successful track record of innovation and sales leadership in digital therapeutics, and we are very pleased to welcome him to the team,” stated Rick Anderson, President and General Manager of North America. “In his previous roles, he has been involved in the proliferation of some of the largest digital health interventions in the employer and payer markets. Chris has extensive expertise in bringing next-generation digital health products like ours to the large employer market and will be an asset to increase market penetration. We believe that Chris, along with our recently announced addition of Claudia Kraut as VP of Broker and Consultant Partnerships, significantly strengthens our Employer Market team.”

“I am thrilled to be joining Dario at this juncture of its development, and have been impressed with their solutions for addressing the needs of individuals living with chronic conditions,” stated Mr. Chan. “Dario’s evidence-based open architecture provides a platform for working collaboratively and transparently across the healthcare system and I look forward to being part of the team bringing this solution to members, providers, employers and their advisors.”

In addition to Mr. Chan’s experience, he is also the founder of Purple Light Idea Factory, an advisor to several digital health companies focused on the fields of caregiving, addiction, mental health, sleep, network contracting, behavioral health, and payment integrity.

Mr. Chan’s appointment will support the continued growth and expansion of the business and benefit Dario’s next-generation, AI-powered, digital therapeutic approach that delivers adaptive, personalized experiences designed to drive behavior change through intuitive, clinically proven digital tools and coaching that help individuals measurably improve health outcomes.

About DarioHealth Corp.

DarioHealth Corp. (Nasdaq: DRIO) is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. By delivering evidence-based interventions driven by connected devices, data, high-quality software, and coaching, the company makes the right thing to do the easy thing to do. The company’s cross-functional team operates at the intersection of life sciences, behavioral science, and software technology. Dario offers one of the highest-rated diabetes and hypertension solutions on the market. The highly engaging, user-centric MyDario™ mobile app is used regularly by tens of thousands of consumers worldwide. The company is rapidly expanding into new chronic conditions and geographic markets, using a performance-based approach to improve its users’ health. To learn more about DarioHealth and its digital health solutions, or for more information, visit http://dariohealth.com

Cautionary Note Regarding Forward-Looking Statements

This news release and the statements of representatives and partners of DarioHealth Corp. (the “Company”) related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” or “continue” are intended to identify forward-looking statements. For example, the Company is using forward-looking statements in this press release when it states its belief that the addition of Mr. Chan and Ms. Kraut significantly strengthens its Employer Market team.  Readers are cautioned that certain important factors may affect the Company’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company’s results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company’s actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company’s commercial and regulatory plans for Dario™) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

DarioHealth Corporate Contact:
Suzanne Bedell
VP Marketing
[email protected]
+1-347-767-4220

Investor Relations Contact:
Chuck Padala
[email protected]
+1-646-627-8390

 

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SOURCE DarioHealth Corp.

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Union Pacific Reports Fourth Quarter and Full Year 2020 Results

PR Newswire

OMAHA, Neb., Jan. 21, 2021 /PRNewswire/ — Union Pacific Corporation (NYSE: UNP) today reported 2020 fourth quarter net income of $1.4 billion, or $2.05 per diluted share. These results include a previously announced $278 million pre-tax, non-cash impairment charge.  Excluding the effects of that charge, adjusted fourth quarter net income was $1.6 billion, or $2.36 per diluted share. This compares to $1.4 billion, or $2.02 per diluted share, in the fourth quarter 2019.

“These outstanding results demonstrate the true potential of our franchise as we leveraged all three profitability drivers simultaneously – volume growth, productivity, and pricing – to produce record fourth quarter results,” said Lance Fritz, Union Pacific chairman, president, and chief executive officer. “The women and men of Union Pacific persevered throughout the pandemic to provide our customers with a safe, reliable, and consistent service product.”

Fourth Quarter Summary
Operating revenue of $5.1 billion was down 1% in fourth quarter 2020 compared to fourth quarter 2019. Fourth quarter business volumes, as measured by total revenue carloads, increased 3% compared to 2019. Premium volumes increased compared to 2019, while bulk was flat and industrial declined. In addition:

  • Quarterly freight revenue declined 1% compared to fourth quarter 2019, as volume growth and core pricing gains were more than offset by decreased fuel surcharge revenue and a less favorable business mix.
  • Union Pacific’s 61.0% reported operating ratio when adjusted for the impairment charge is an all-time quarterly record of 55.6%, 410 basis points lower than fourth quarter 2019. Lower fuel prices positively impacted the operating ratio by 90 basis points.
  • Quarterly freight car velocity was 223 daily miles per car, a 1% improvement compared to fourth quarter 2019.
  • Quarterly locomotive productivity was 142 gross ton-miles per horsepower day, a 13% improvement compared to fourth quarter 2019.
  • Quarterly workforce productivity was 1,032 car miles per employee, an 18% improvement compared to fourth quarter 2019.
  • Average maximum train length was 9,154 feet, a 12% increase compared to fourth quarter 2019.
  • The Company repurchased 3.8 million shares in fourth quarter 2020 at an aggregate cost of $749 million.

Summary of Fourth Quarter Freight Revenues

  • Bulk up 1%
  • Industrial down 7%
  • Premium up 5%

2020 Full Year Summary
For the full year 2020, Union Pacific reported net income of $5.3 billion or $7.88 per diluted share.  Excluding the effects of the $278 million pre-tax, non-cash impairment charge, adjusted full year net income was $5.6 billion, or $8.19 per diluted share. This compares to $5.9 billion, or $8.38 per diluted share, in 2019.

Operating revenue totaled $19.5 billion compared to $21.7 billion in 2019.  Operating income totaled $7.8 billion, which decreased compared to 2019.  In addition:

  • Freight revenue totaled $18.3 billion, a 10% decrease compared to 2019.  Carloadings were down 7% versus 2019, as all three business teams – bulk, industrial, and premium – declined due to the economic conditions brought on by the COVID-19 pandemic.
  • Union Pacific’s full year 59.9% reported operating ratio when adjusted for the impairment charge is a best ever 58.5%, 210 basis points lower than 2019. Lower fuel prices positively impacted the operating ratio by 130 basis points.
  • Union Pacific’s reportable personal injury rate of 0.90 incidents per 200,000 employee hours was flat compared to full year 2019. The Company’s FRA reportable rail equipment incident rate of 3.54 per million train miles improved 17% compared to full year 2019.
  • Through continued implementation of precision scheduled railroading principles, Union Pacific made year-over-year improvements in its key operating performance indicators:
    • Freight car velocity – 6% improvement
    • Average terminal dwell – 8% improvement
    • Locomotive productivity – 14% improvement
    • Workforce productivity – 11% improvement
    • Train length – 14% improvement
    • Intermodal car trip plan compliance – 6 pt. improvement
    • Manifest/Autos car trip plan compliance – 6 pt. improvement
  • Fuel consumption rate, measured in gallons of fuel per thousand gross ton miles, improved 2% in 2020 compared to 2019.
  • Union Pacific’s capital program in 2020 totaled $2.8 billion.
  • Union Pacific repurchased 22 million shares in 2020 at an aggregate cost of $3.7 billion.

2021 Outlook
“While the economic outlook for 2021 remains uncertain, we will build off our solid 2020 performance to produce continued strong productivity through operational excellence.  We expect our enhanced service product will support both solid core pricing gains while also increasing our share of the freight transportation market,” Fritz said. “Our confidence in our ability to drive value for all of our stakeholders has never been greater.”

Fourth Quarter 2020 Earnings Conference Call
Union Pacific will webcast its fourth quarter 2020 earnings release presentation live at www.up.com/investor and via teleconference on Thursday, January 21, 2021, at 8:45 a.m. Eastern Time. Participants may join the conference call by dialing 877-407-8293 (or for international participants, 201-689-8349).

ABOUT UNION PACIFIC
Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.


Supplemental financial information is attached.

This news release and related materials contain statements about the Company’s future that are not statements of historical fact, including specifically the statements regarding the Company’s expectations with respect to economic conditions and demand levels,  its ability to improve network performance, its results of operations, and potential impacts of the COVID-19 pandemic.  These statements are, or will be, 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. Forward-looking statements also generally include, without limitation, information or statements regarding: projections, predictions, expectations, estimates or forecasts as to the Company’s and its subsidiaries’ business, financial, and operational results, and future economic performance; and management’s beliefs, expectations, goals, and objectives and other similar expressions concerning matters that are not historical facts.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will be achieved. Forward-looking information, including expectations regarding operational and financial improvements and the Company’s future performance or results are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statement. Important factors, including risk factors, could affect the Company’s and its subsidiaries’ future results and could cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements. Information regarding risk factors and other cautionary information are available in the Company’s Annual Report on Form 10-K for 2019, which was filed with the SEC on February 7, 2020, and the Company’s Quarterly Report on Form 10-Q, which was filed with the SEC on July 23, 2020. The Company updates information regarding risk factors if circumstances require such updates in its periodic reports on Form 10-Q and its subsequent Annual Reports on Form 10-K (or such other reports that may be filed with the SEC).

Forward-looking statements speak only as of, and are based only upon information available on, the date the statements were made. The Company assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References to our website are provided for convenience and, therefore, information on or available through the website is not, and should not be deemed to be, incorporated by reference herein.
 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Condensed Consolidated Statements of Income (unaudited)


 Millions, Except Per Share Amounts and Percentages,



4th Quarter



Full Year


 For the Periods Ended December 31,



2020


2019


%



2020


2019


%


 Operating Revenues

      Freight revenues


$


4,803

$

4,851

(1)

%


$


18,251

$

20,243

(10)

%

      Other


338

361

(6)


1,282

1,465

(12)

 Total operating revenues


5,141

5,212

(1)


19,533

21,708

(10)


 Operating Expenses

      Compensation and benefits


1,021

1,049

(3)


3,993

4,533

(12)

      Depreciation


557

559

–


2,210

2,216

–

      Purchased services and materials


492

531

(7)


1,962

2,254

(13)

      Fuel


332

512

(35)


1,314

2,107

(38)

      Equipment and other rents


220

230

(4)


875

984

(11)

      Other


513

231

U


1,345

1,060

27

 Total operating expenses


3,135

3,112

1


11,699

13,154

(11)


 Operating Income


2,006

2,100

(4)


7,834

8,554

(8)

      Other income


66

56

18


287

243

18

      Interest expense


(279)

(278)

–


(1,141)

(1,050)

9

 Income before income taxes


1,793

1,878

(5)


6,980

7,747

(10)

 Income taxes


(413)

(475)

(13)


(1,631)

(1,828)

(11)


 Net Income


$


1,380

$

1,403

(2)


$


5,349

$

5,919

(10)


 Share and Per Share

      Earnings per share – basic


$


2.05

$

2.03

1

%


$


7.90

$

8.41

(6)

%

      Earnings per share – diluted


$


2.05

$

2.02

1


$


7.88

$

8.38

(6)

      Weighted average number of shares – basic


672.2

692.2

(3)


677.3

703.5

(4)

      Weighted average number of shares – diluted


674.1

694.9

(3)


679.1

706.1

(4)

      Dividends declared per share


$


0.97

$

0.97

–


$


3.88

$

3.70

5


 Operating Ratio


61.0%

59.7%

1.3

pts


59.9%

60.6%

(0.7)

pts


 Effective Tax Rate


23.0%

25.3%

(2.3)


23.4%

23.6%

(0.2)

 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Freight Revenues Statistics (unaudited
)



4th Quarter



Full Year


 For the Periods Ended December 31,



2020


2019


%



2020


2019


%



 Freight Revenues (Millions)

      Grain & grain products


$


801

$

696

15

%


$


2,829

$

2,776

2

%

      Fertilizer


161

161

–


660

653

1

      Food & refrigerated


243

241

1


937

1,008

(7)

      Coal & renewables


357

451

(21)


1,534

2,092

(27)

    Bulk


1,562

1,549

1


5,960

6,529

(9)

      Industrial chemicals & plastics


461

457

1


1,845

1,885

(2)

      Metals & minerals


378

429

(12)


1,580

2,042

(23)

      Forest products


307

282

9


1,160

1,160

–

      Energy & specialized markets


515

626

(18)


2,037

2,385

(15)

    Industrial


1,661

1,794

(7)


6,622

7,472

(11)

      Automotive


486

507

(4)


1,680

2,123

(21)

      Intermodal


1,094

1,001

9


3,989

4,119

(3)

    Premium


1,580

1,508

5


5,669

6,242

(9)

 Total


$


4,803

$

4,851

(1)

%


$


18,251

$

20,243

(10)

%



 Revenue Carloads (Thousands)

      Grain & grain products


216

180

20

%


745

708

5

%

      Fertilizer


44

45

(2)


193

190

2

      Food & refrigerated


48

45

7


185

192

(4)

      Coal & renewables


190

226

(16)


797

997

(20)

    Bulk


498

496

–


1,920

2,087

(8)

      Industrial chemicals & plastics


148

148

–


587

611

(4)

      Metals & minerals


154

165

(7)


646

744

(13)

      Forest products


59

53

11


220

220

–

      Energy & specialized markets


137

164

(16)


539

624

(14)

    Industrial


498

530

(6)


1,992

2,199

(9)

      Automotive


202

208

(3)


692

858

(19)

      Intermodal [a]


853

759

12


3,149

3,202

(2)

    Premium


1,055

967

9


3,841

4,060

(5)

 Total


2,051

1,993

3

%


7,753

8,346

(7)

%



 Average Revenue per Car

      Grain & grain products


$


3,710

$

3,860

(4)

%


$


3,797

$

3,919

(3)

%

      Fertilizer


3,647

3,636

–


3,427

3,448

(1)

      Food & refrigerated


5,030

5,340

(6)


5,047

5,241

(4)

      Coal & renewables


1,887

1,991

(5)


1,926

2,098

(8)

    Bulk


3,139

3,121

1


3,104

3,128

(1)

      Industrial chemicals & plastics


3,125

3,086

1


3,144

3,087

2

      Metals & minerals


2,448

2,606

(6)


2,445

2,745

(11)

      Forest products


5,184

5,313

(2)


5,269

5,264

–

      Energy & specialized markets


3,747

3,818

(2)


3,780

3,821

(1)

    Industrial


3,331

3,386

(2)


3,324

3,398

(2)

      Automotive


2,399

2,441

(2)


2,427

2,474

(2)

      Intermodal [a]


1,284

1,319

(3)


1,267

1,286

(1)

    Premium


1,497

1,560

(4)


1,476

1,538

(4)

 Average 


$


2,341

$

2,435

(4)

%


$


2,354

$

2,425

(3)

%

[a]   

For intermodal shipments, each container or trailer equals one carload.

 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Condensed Consolidated Statements of Financial Position (unaudited)



Dec. 31,


Dec. 31,


 Millions, Except Percentages



2020


2019


 Assets

      Cash and cash equivalents


$


1,799

$

831

      Short-term investments


60

60

      Other current assets


2,355

2,568

      Investments


2,164

2,050

      Net properties


54,161

53,916

      Operating lease assets


1,610

1,812

      Other assets


249

436

 Total assets


$


62,398

$

61,673


 Liabilities and Common Shareholders’ Equity

      Debt due within one year


$


1,069

$

1,257

      Other current liabilities


3,104

3,094

      Debt due after one year


25,660

23,943

      Operating lease liabilities


1,283

1,471

      Deferred income taxes


12,247

11,992

      Other long-term liabilities


2,077

1,788

 Total liabilities


45,440

43,545

 Total common shareholders’ equity


16,958

18,128

 Total liabilities and common shareholders’ equity


$


62,398

$

61,673


 Return on Average Common Shareholders’ Equity


30.5%

30.7%


 Return on Invested Capital as Adjusted (ROIC)*


13.9%

15.0%

*     

ROIC is a non-GAAP measure; however, management believes that it is an important measure in evaluating the efficiency and effectiveness of our long-term capital investments. See page 9 for a reconciliation to GAAP.

 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Condensed Consolidated Statements of Cash Flows (unaudited)


 Millions,



Full Year


 For the Periods Ended December 31,



2020


2019


 Operating Activities

      Net income


$


5,349

$

5,919

      Depreciation


2,210

2,216

      Deferred income taxes


340

566

      Other – net


641

(92)

 Cash provided by operating activities


8,540

8,609


 Investing Activities

      Capital investments*


(2,927)

(3,453)

      Maturities of short-term investments


141

130

      Purchases of short-term investments


(136)

(115)

      Other – net


246

3

 Cash used in investing activities


(2,676)

(3,435)


 Financing Activities

      Debt issued


4,004

3,986

      Share repurchase programs


(3,705)

(5,804)

      Dividends paid


(2,626)

(2,598)

      Debt repaid


(2,053)

(817)

      Debt exchange


(328)

(387)

      Net issuance of commercial paper


(127)

(6)

      Other – net


(67)

(20)

 Cash used in financing activities


(4,902)

(5,646)


 Net Change in Cash, Cash Equivalents, and Restricted Cash


962

(472)

 Cash, cash equivalents, and restricted cash at beginning of year


856

1,328


 Cash, Cash Equivalents, and Restricted Cash at End of Year


$


1,818

$

856


 Free Cash Flow**

      Cash provided by operating activities


$


8,540

$

8,609

      Cash used in investing activities


(2,676)

(3,435)

      Dividends paid


(2,626)

(2,598)

 Free cash flow


$


3,238

$

2,576

*    

Capital investments include locomotive and freight car early lease buyouts of $38 million in 2020 and $290 million in 2019.

**   

Free cash flow is a non-GAAP measure; however, we believe this measure is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financing.

 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Operating and Performance Statistics (unaudited)



4th Quarter



Full Year


 For the Periods Ended December 31,



2020


2019


%



2020


2019


%


 Operating/Performance Statistics 

      Freight car velocity (daily miles per car) [a]


223

220

1

%


221

209

6

%

      Average train speed (miles per hour) [a] *


26.1

26.2

–


25.9

25.1

3

      Average terminal dwell time (hours) [a] *


22.4

23.3

(4)


22.7

24.8

(8)

      Locomotive productivity (GTMs per horsepower day)


142

126

13


137

120

14

      Gross ton-miles (GTMs) (millions)


202,844

200,801

1


771,765

846,616

(9)

      Train length (feet)


9,154

8,185

12


8,798

7,747

14

      Intermodal car trip plan compliance (%)


83

84

(1)

pts


81

75

6

pts

      Manifest/Automotive car trip plan compliance (%)


74

71

3

pts


71

65

6

pts

      Workforce productivity (car miles per employee)


1,032

874

18


947

857

11

      Total employees (average)


29,753

34,563

(14)


30,960

37,483

(17)


 Locomotive Fuel Statistics

      Average fuel price per gallon consumed


$1.45

$ 2.16

(33)

%


$ 1.50

$ 2.13

(30)

%

      Fuel consumed in gallons (millions)


222

228

(3)


849

953

(11)

      Fuel consumption rate**


1.092

1.140

(4)


1.100

1.126

(2)


 Revenue Ton-Miles (Millions)

      Grain & grain products


21,591

16,298

32

%


71,979

66,264

9

%

      Fertilizer


2,932

2,809

4


12,024

11,531

4

      Food & refrigerated


4,662

4,433

5


17,534

18,470

(5)

      Coal & renewables


18,128

21,335

(15)


76,695

100,035

(23)

    Bulk


47,313

44,875

5


178,232

196,300

(9)

      Industrial chemicals & plastics


7,465

6,705

11


28,095

28,000

–

      Metals & minerals


7,091

7,772

(9)


28,562

37,175

(23)

      Forest products


6,206

5,734

8


23,527

23,445

–

      Energy & specialized markets


9,200

12,194

(25)


36,527

45,367

(19)

    Industrial


29,962

32,405

(8)


116,711

133,987

(13)

      Automotive


4,337

4,395

(1)


14,835

18,349

(19)

      Intermodal


19,854

18,257

9


75,198

74,797

1

    Premium


24,191

22,652

7


90,033

93,146

(3)

 Total


101,466

99,932

2

%


384,976

423,433

(9)

%

[a]

Prior years have been recast to conform to the current year presentation.

*     

Surface Transportation Board reported performance measures. 

**    

Fuel consumption is computed as follows: gallons of fuel consumed divided by gross ton-miles in thousands. 

 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Condensed Consolidated Statements of Income (unaudited)



2020


 Millions, Except Per Share Amounts and Percentages,



1st Qtr

 



2nd Qtr

 



3rd Qtr

 



4th Qtr

 



Full Year

 


 Operating Revenues

      Freight revenues

$

4,880

$

3,972

$

4,596

$

4,803

$

18,251

      Other

349

272

323

338

1,282

 Total operating revenues

5,229

4,244

4,919

5,141

19,533


 Operating Expenses

      Compensation and benefits

1,059

905

1,008

1,021

3,993

      Depreciation

547

551

555

557

2,210

      Purchased services and materials

521

441

508

492

1,962

      Fuel

434

247

301

332

1,314

      Equipment and other rents

227

211

217

220

875

      Other

298

235

299

513

1,345

 Total operating expenses

3,086

2,590

2,888

3,135

11,699


 Operating Income

2,143

1,654

2,031

2,006

7,834

      Other income

53

131

37

66

287

      Interest expense

(278)

(289)

(295)

(279)

(1,141)

 Income before income taxes

1,918

1,496

1,773

1,793

6,980

 Income taxes

(444)

(364)

(410)

(413)

(1,631)


 Net Income

$

1,474

$

1,132

$

1,363

$

1,380

$

5,349


 Share and Per Share

      Earnings per share – basic

$

2.15

$

1.67

$

2.02

$

2.05

$

7.90

      Earnings per share – diluted

$

2.15

$

1.67

$

2.01

$

2.05

$

7.88

      Weighted average number of shares – basic

684.3

677.7

675.0

672.2

677.3

      Weighted average number of shares – diluted

686.2

679.2

676.8

674.1

679.1

      Dividends declared per share

$

0.97

$

0.97

$

0.97

$

0.97

$

3.88


 Operating Ratio

59.0%

61.0%

58.7%

61.0%

59.9%


 Effective Tax Rate

23.1%

24.3%

23.1%

23.0%

23.4%

 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Freight Revenues Statistics (unaudited)



2020



1st Qtr

 



2nd Qtr

 



3rd Qtr

 



4th Qtr

 



Full Year

 



 Freight Revenues (Millions)

      Grain & grain products

$

689

$

644

$

695

$

801

$

2,829

      Fertilizer

174

168

157

161

660

      Food & refrigerated

250

205

239

243

937

      Coal & renewables

421

369

387

357

1,534

    Bulk

1,534

1,386

1,478

1,562

5,960

      Industrial chemicals & plastics

495

435

454

461

1,845

      Metals & minerals

469

368

365

378

1,580

      Forest products

303

266

284

307

1,160

      Energy & specialized markets

627

431

464

515

2,037

    Industrial

1,894

1,500

1,567

1,661

6,622

      Automotive

524

189

481

486

1,680

      Intermodal

928

897

1,070

1,094

3,989

    Premium

1,452

1,086

1,551

1,580

5,669

 Total

$

4,880

$

3,972

$

4,596

$

4,803

$

18,251



 Revenue Carloads (Thousands)

      Grain & grain products

175

167

187

216

745

      Fertilizer

46

53

50

44

193

      Food & refrigerated

48

41

48

48

185

      Coal & renewables

208

186

213

190

797

    Bulk

477

447

498

498

1,920

      Industrial chemicals & plastics

154

141

144

148

587

      Metals & minerals

174

162

156

154

646

      Forest products

56

50

55

59

220

      Energy & specialized markets

162

115

125

137

539

    Industrial

546

468

480

498

1,992

      Automotive

208

79

203

202

692

      Intermodal [a]

709

724

863

853

3,149

    Premium

917

803

1,066

1,055

3,841

 Total

1,940

1,718

2,044

2,051

7,753



 Average Revenue per Car

      Grain & grain products

$

3,940

$

3,861

$

3,705

$

3,710

$

3,797

      Fertilizer

3,768

3,181

3,172

3,647

3,427

      Food & refrigerated

5,277

4,986

4,891

5,030

5,047

      Coal & renewables

2,022

1,979

1,820

1,887

1,926

    Bulk

3,219

3,099

2,964

3,139

3,104

      Industrial chemicals & plastics

3,205

3,086

3,154

3,125

3,144

      Metals & minerals

2,697

2,276

2,337

2,448

2,445

      Forest products

5,457

5,256

5,181

5,184

5,269

      Energy & specialized markets

3,866

3,739

3,742

3,747

3,780

    Industrial

3,469

3,201

3,271

3,331

3,324

      Automotive

2,525

2,388

2,368

2,399

2,427

      Intermodal [a]

1,307

1,241

1,238

1,284

1,267

    Premium

1,583

1,354

1,454

1,497

1,476

 Average 

$

2,516

$

2,312

$

2,248

$

2,341

$

2,354

[a]   

For intermodal shipments, each container or trailer equals one carload.

 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Reconciliation of Non-GAAP Financial Measures



 Adjusted Debt / Adjusted EBITDA*


Millions, Except Ratios



Dec. 31,


Dec. 31,


Dec. 31,


for the Twelve Months Ended



2020


2019


2018

 Net income


$


5,349

$

5,919

$

5,966

 Add:

 Income tax expense/(benefit)


1,631

1,828

1,775

 Depreciation


2,210

2,216

2,191

 Interest expense


1,141

1,050

870

 EBITDA


$


10,331

$

11,013

$

10,802

 Adjustments:

 Other income


(287)

(243)

(94)

 Interest on operating lease liabilities**


59

68

84

 Adjusted EBITDA


$


10,103

$

10,838

$

10,792

 Debt


$


26,729

$

25,200

$

22,391

 Operating lease liabilities***


1,604

1,833

2,271

 Unfunded pension and OPEB, 

 net of taxes of $195, $124, and $135


637

400

456

 Adjusted debt


$


28,970

$

27,433

$

25,118

 Adjusted debt / Adjusted EBITDA


2.9

2.5

2.3



Comparable Adjusted Debt / Adjusted EBITDA*



Dec. 31,


Dec. 31,


Dec. 31,



2020


2019


2018

 Adjusted debt / Adjusted EBITDA


2.9

2.5

2.3

 Factors Affecting Comparability:

Brazos yard impairment [a]


(0.1)

N/A

N/A

 Comparable Adjusted Debt / Adjusted EBITDA*


2.8

2.5

2.3


[a]   

Adjustments remove the impact of $209 million from net income and $69 million from income tax expense for the year ended December 31, 2020. See page 10 for a reconciliation to GAAP.

*   

Total debt plus operating lease liabilities plus after-tax unfunded pension and OPEB obligation divided by net income plus income tax expense, depreciation, amortization, interest expense, and adjustments for other income and interest on operating lease liabilities. Adjusted debt to adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, other income, and interest on operating lease liabilities) and comparable adjusted debt to adjusted EBITDA are considered non-GAAP financial measures by SEC Regulation G and Item 10 of SEC Regulation S-K and may not be defined and calculated by other companies in the same manner. We believe these measures are important to management and investors in evaluating the Company’s ability to sustain given debt levels (including leases) with the cash generated from operations. In addition, a comparable measure is used by rating agencies when reviewing the Company’s credit rating. Adjusted debt to adjusted EBITDA and comparable adjusted debt to adjusted EBITDA should be considered in addition to, rather than as a substitute for, net income. The tables above provide reconciliations from net income to adjusted debt to adjusted EBITDA and comparable adjusted debt to adjusted EBITDA. At December 31, 2020, 2019, and 2018, the incremental borrowing rate on operating leases was 3.7%.

** 

Represents the hypothetical interest expense we would incur (using the incremental borrowing rate) if the property under our operating leases were owned or accounted for as finance leases.

***  

Effective January 1, 2019, the Company adopted Accounting Standards Update No. 2016-02 (ASU 2016-02), Leases.  ASU 2016-02 requires companies to recognize lease assets and lease liabilities on the balance sheet.  Prior to adoption, the present value of operating leases was used in this calculation.

 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Reconciliation of Non-GAAP Financial Measures



 Return on Average Common Shareholders’ Equity


 Millions, Except Percentages



2020


2019


2018

 Net income


$


5,349

$

5,919

$

5,966

 Average equity


$


17,543

$

19,276

$

22,640

 Return on average common shareholders’ equity


30.5%

30.7%

26.4%



 Return on Invested Capital as Adjusted (ROIC)*


 Millions, Except Percentages



2020


2019


2018

 Net income


$


5,349

$

5,919

$

5,966

 Interest expense


1,141

1,050

870

 Interest on average operating lease liabilities


64

76

82

 Taxes on interest


(282)

(266)

(218)

 Net operating profit after taxes as adjusted


$


6,272

$

6,779

$

6,700

 Average equity


$


17,543

$

19,276

$

22,640

 Average debt


25,965

23,796

19,668

 Average operating lease liabilities


1,719

2,052

2,206

 Average invested capital as adjusted


$


45,227

$

45,124

$

44,514

 Return on invested capital as adjusted


13.9%

15.0%

15.1%



Comparable Return on Invested Capital as Adjusted (Comparable ROIC)*



2020


2019


2018

 Return on invested capital as adjusted


13.9%

15.0%

15.1%

 Factors Affecting Comparability:

Brazos yard impairment [a]


0.4

N/A

N/A

Comparable return on invested capital as adjusted


14.3%

15.0%

15.1%


[a]   

Adjustments remove the impact of $209 million from both net income for the year ended and shareholders’ equity as of December 31, 2020. See page 10 for a reconciliation to GAAP.

*   

ROIC and comparable ROIC are considered non-GAAP financial measures by SEC Regulation G and Item 10 of SEC Regulation S-K and may not be defined and calculated by other companies in the same manner. We believe these measures are important to management and investors in evaluating the efficiency and effectiveness of our long-term capital investments. In addition, we currently use ROIC as a performance criteria in determining certain elements of equity compensation for our executives. ROIC and comparable ROIC should be considered in addition to, rather than as a substitute for, other information provided in accordance with GAAP. The most comparable GAAP measure is return on average common shareholders’ equity. The tables above provide reconciliations from return on average common shareholders’ equity to ROIC and comparable ROIC. At December 31, 2020, 2019, and 2018, the incremental borrowing rate on operating leases was 3.7%.

 


UNION PACIFIC CORPORATION AND SUBSIDIARY COMPANIES


Reconciliation of Non-GAAP Financial Measures



Financial Performance*


 Millions, Except Per Share Amounts and Percentages


Reported results


Brazos Yard


Adjusted results


 For the Three Months Ended December 31, 2020


(GAAP)


Impairment


(non-GAAP)

 Operating expense

$

3,135

$

(278)

$

2,857

 Operating income

2,006

278

2,284

 Income taxes

413

69

482

 Net income

$

1,380

$

209

$

1,589

 Diluted EPS

$

2.05

$

0.31

$

2.36

 Operating ratio

61.0

%

(5.4)

pts

55.6

%


 Millions, Except Per Share Amounts and Percentages


Reported results


Brazos Yard


Adjusted results


(GAAP)


Impairment


(non-GAAP)


 For the Year Ended December 31, 2020

 Operating expense

$

11,699

$

(278)

$

11,421

 Operating income

7,834

278

8,112

 Income taxes

1,631

69

1,700

 Net income

$

5,349

$

209

$

5,558

 Diluted EPS

$

7.88

$

0.31

$

8.19

 Operating ratio

59.9

%

(1.4)

pts

58.5

%


 As of December 31, 2020

 Shareholders’ equity

$

16,958

$

209

$

17,167

* 

The above tables reconcile our results for the three-months and year ended December 31, 2020, and as of December 31, 2020, to adjust results that exclude the impact of certain items identified as affecting comparability. We use adjusted operating expense, adjusted operating income, adjusted income taxes, adjusted net income, adjusted diluted earnings per share (EPS), adjusted operating ratio, and adjusted shareholders’ equity, as applicable, among other measures, to evaluate our actual operating performance. We believe these non-GAAP financial measures provide valuable information regarding earnings and business trends by excluding specific items that we believe are not indicative of our ongoing operating results of our business, providing a useful way for investors to make a comparison of our performance over time and against other companies in our industry. Since these are not measures of performance calculated in accordance with GAAP, they should be considered in addition to, rather than as a substitute for, operating expense, operating income, income taxes, net income, diluted EPS, operating ratio, and shareholders’ equity as indicators of operating performance.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/union-pacific-reports-fourth-quarter-and-full-year-2020-results-301212169.html

SOURCE Union Pacific Corporation

Posted on

Lilly’s neutralizing antibody bamlanivimab (LY-CoV555) prevented COVID-19 at nursing homes in the BLAZE-2 trial, reducing risk by up to 80 percent for residents

PR Newswire

INDIANAPOLIS, Jan. 21, 2021 /PRNewswire/ — Bamlanivimab (LY-CoV555) significantly reduced the risk of contracting symptomatic COVID-19 among residents and staff of long-term care facilities, Eli Lilly and Company (NYSE: LLY) announced. The Phase 3 BLAZE-2 COVID-19 prevention trial – conducted in partnership with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), and the COVID-19 Prevention Network (CoVPN) – enrolled residents and staff at skilled nursing and assisted living facilities, commonly referred to as nursing homes, across the U.S.

The 965 participants who tested negative for the SARS-CoV-2 virus at baseline (299 residents and 666 staff) were included in the analysis of primary and key secondary endpoints for assessing prevention, while the 132 participants (41 residents and 91 staff) who tested positive for the virus at baseline were included in exploratory analyses for assessing treatment, adding to the growing body of evidence for treatment with bamlanivimab. All participants were randomized to receive either 4,200 mg of bamlanivimab or placebo.

After all participants reached 8 weeks of follow-up, there was a significantly lower frequency of symptomatic COVID-19 (the primary endpoint) in the bamlanivimab treatment arm versus placebo (odds ratio 0.43, p=0.00021). Results for all key secondary endpoints also reached statistical significance in both the overall and resident populations.

For the pre-specified subgroup of nursing home residents, there was also a significantly lower frequency of symptomatic COVID-19 in those treated with bamlanivimab versus placebo in this important population (odds ratio 0.20; p=0.00026). These results suggest that residents randomized to bamlanivimab have up to an 80 percent lower risk of contracting COVID-19 versus residents in the same facility randomized to placebo.

Results from exploratory analyses of viral load in the treatment group were consistent with previously disclosed data from BLAZE-1 evaluating bamlanivimab as an outpatient treatment for recently diagnosed COVID-19.

Among the 299 residents in the prevention group, there were 4 deaths attributed to COVID-19 at the time of death, and all occurred in the placebo arm. There were no COVID-19 attributed deaths in the bamlanivimab arm. Among the 41 residents in the treatment group, there were 4 deaths, and all occurred in the placebo arm with none in the bamlanivimab arm. Over the entire trial, there were a total of 16 deaths reported, including deaths not related to COVID-19, and all deaths were residents (11 deaths in placebo arm and 5 in bamlanivimab arm).

“We are exceptionally pleased with these positive results, which showed bamlanivimab was able to help prevent COVID-19, substantially reducing symptomatic disease among nursing home residents, some of the most vulnerable members of our society,” said Daniel Skovronsky, M.D., Ph.D., Lilly’s chief scientific officer and president of Lilly Research Laboratories. “These data provide important additional clinical evidence regarding the use of bamlanivimab to fight COVID-19 and strengthen our conviction that monoclonal antibodies such as bamlanivimab can play a critical role in turning the tide of this pandemic. We’re glad bamlanivimab is already available as a treatment for patients at high risk for progressing to severe COVID-19 illness or hospitalization, including those in nursing homes, and look forward to working with regulators to explore expanding the emergency use authorization to prevent the spread of COVID-19 in these facilities.”

An independent data and safety monitoring board oversaw the BLAZE-2 trial. In the trial, the safety profile of bamlanivimab was consistent with observations from the Phase 1 and Phase 2 trials. Serious adverse events were reported at a similar frequency in the bamlanivimab and placebo groups. Across multiple clinical trials, Lilly now has collected safety and efficacy data in more than 4,000 patients treated with bamlanivimab, either alone or administered together with another antibody.

“The results of this innovative study further support the belief that bamlanivimab – and potentially other monoclonal antibodies – can reduce symptoms and may even prevent COVID-19,” said Myron S. Cohen, M.D., CoVPN co-principal investigator and director of the Institute for Global Health and Infectious Diseases at the University of North Carolina at Chapel Hill. “The antiviral activity seen with bamlanivimab treatment emphasizes the importance of early intervention to help counter the devasting impact the virus has had in this vulnerable population and other high-risk patients.”

BLAZE-2 is a first-of-its-kind COVID-19 trial designed to evaluate this vulnerable population by addressing the challenging aspects of running a clinical trial in long-term care facilities, which normally do not conduct clinical trials. The study is sponsored by Lilly and conducted in partnership with NIAID, part of the NIH, along with the CoVPN and numerous long-term care facility networks across the country. BLAZE-2 is ongoing as an open-label trial evaluating bamlanivimab alone or administered together with another antibody as a treatment for high-risk individuals (residents and staff) diagnosed with COVID-19 at these long-term care facilities. The full results from BLAZE-2 will be presented at a future medical congress and submitted for publication in a peer-reviewed clinical journal.

Bamlanivimab is authorized for emergency use by the U.S. Food and Drug Administration for the treatment of mild to moderate COVID-19 in high-risk patients. For more information about the use of bamlanivimab, contact Lilly’s 24-hour support line at 1-855-LillyC19 (1-855-545-5921). Patients and physicians can visit covid.infusioncenter.org or the HHS Therapeutics Distribution locator to find a potential treatment location near you. Visit combatcovid.hhs.gov to find out more about antibody therapy.


Important Information about bamlanivimab 
 
Bamlanivimab has not been approved by the FDA for any use.  It is not known if bamlanivimab is safe and effective for the treatment of COVID-19. 

Bamlanivimab is authorized under an Emergency Use Authorization only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of bamlanivimab under Section 564(b)(1) of the Act, 21 U.S.C § 360bbb-3(b)(1), unless the authorization is terminated or revoked sooner.

Healthcare providers should review the Fact Sheet for information on the authorized use of bamlanivimab and mandatory requirements of the EUA. Please see the FDA Letter of Authorization, Fact Sheet for Healthcare Providers, and Fact Sheet for Patients, Parents, and Caregivers (English) (Spanish).


Authorized Use and Important Safety Information

Bamlanivimab 700 mg injection is authorized for use under EUA for treatment of mild to moderate COVID-19 in adults and pediatric patients (12 years of age and older weighing at least 40 kg) with positive results of direct SARS-CoV-2 viral testing, and who are at high risk for progressing to severe COVID-19 and/or hospitalization.

Limitations of Authorized Use

  • Bamlanivimab is not authorized for use in patients:
    • who are hospitalized due to COVID-19, OR
    • who require oxygen therapy due to COVID-19, OR
    • who require an increase in baseline oxygen flow rate due to COVID-19 in those on chronic oxygen therapy due to underlying non-COVID-19 related comorbidity.
  • Benefit of treatment with bamlanivimab has not been observed in patients hospitalized due to COVID-19. Monoclonal antibodies, such as bamlanivimab, may be associated with worse clinical outcomes when administered to hospitalized patients requiring high flow oxygen or mechanical ventilation with COVID-19.

Important Safety Information
There are limited clinical data available for bamlanivimab. Serious and unexpected adverse events may occur that have not been previously reported with bamlanivimab use.


Hypersensitivity Including Anaphylaxis and Infusion-Related Reactions

There is a potential for serious hypersensitivity reaction, including anaphylaxis, with administration of bamlanivimab. If signs and symptoms of a clinically significant hypersensitivity reaction or anaphylaxis occur, immediately discontinue administration and initiate appropriate medications and/or supportive care.

Infusion-related reactions have been observed with administration of bamlanivimab. Signs and symptoms of infusion-related reactions may include:

  • fever, chills, nausea, headache, bronchospasm, hypotension, angioedema, throat irritation, rash including urticaria, pruritus, myalgia, dizziness.

If an infusion-related reaction occurs, consider slowing or stopping the infusion and administer appropriate medications and/or supportive care.


Limitations of Benefit and Potential Risk in Patients with Severe COVID-19

Benefit of treatment with bamlanivimab has not been observed in patients hospitalized due to COVID-19.  Monoclonal antibodies, such as bamlanivimab, may be associated with worse clinical outcomes when administered to hospitalized patients requiring high flow oxygen or mechanical ventilation with COVID-19. See Limitations of Authorized Use.


Adverse Events

Adverse events reported in at least 1% of BLAZE-1 clinical trial participants on bamlanivimab 700 mg and placebo were Nausea (3% vs 4%), Diarrhea (1% vs 5%), Dizziness (3% vs 2%), Headache (3% vs 2%), Pruritus (2% vs 1%) and Vomiting (1% vs 3%).


Use in Specific Populations



Pregnancy

There are insufficient data on the use of bamlanivimab during pregnancy. Bamlanivimab should only be used during pregnancy if the potential benefit outweighs the potential risk for the mother and the fetus.


Breastfeeding

There are no available data on the presence of bamlanivimab in human or animal milk, the effects on the breastfed infant, or the effects on milk production. Breastfeeding individuals with COVID-19 should follow practices according to clinical guidelines to avoid exposing the infant to COVID-19.

About bamlanivimab 
Bamlanivimab is a recombinant, neutralizing human IgG1 monoclonal antibody (mAb) directed against the spike protein of SARS-CoV-2. It is designed to block viral attachment and entry into human cells, thus neutralizing the virus, potentially treating COVID-19. Bamlanivimab emerged from the collaboration between Lilly and AbCellera to create antibody therapies for the prevention and treatment of COVID-19. Lilly scientists rapidly developed the antibody in less than three months after it was discovered by AbCellera and the scientists at the National Institute of Allergy and Infectious Diseases (NIAID) Vaccine Research Center. It was identified from a blood sample taken from one of the first U.S. patients who recovered from COVID-19. 

Lilly has successfully completed a Phase 1 study of bamlanivimab in hospitalized patients with COVID-19 (NCT04411628). A Phase 2/3 study in people recently diagnosed with COVID-19 in the ambulatory setting (BLAZE-1, NCT04427501) is ongoing. A Phase 3 study of bamlanivimab for the prevention of COVID-19 in residents and staff at long-term care facilities (BLAZE-2, NCT04497987) is ongoing. In addition, bamlanivimab is being tested in the National Institutes of Health-led ACTIV-2 study in ambulatory COVID-19 patients.

Bamlanivimab is authorized in the U.S. for the treatment of mild to moderate COVID-19 in adults and pediatric patients 12 years and older with a positive COVID-19 test, who are at high risk for progressing to severe COVID-19 and/or hospitalization. Bamlanivimab should be administered as soon as possible after a positive COVID-19 test and within 10 days of symptom onset.

About BLAZE-2
BLAZE-2, (NCT04497987) is a randomized, double-blind, placebo-controlled trial to evaluate the efficacy and safety of bamlanivimab 4200 mg versus placebo for the prevention of SARS-CoV-2 infection and COVID-19 in skilled nursing and assisted living facility residents and staff. To be eligible, there must be at least one confirmed case of SARS-CoV-2 infection among residents or facility staff based on a sample collection no more than seven days prior to randomization.

The primary outcome measure for the completed arms of the BLAZE-2 trial was cumulative incidence of COVID-19 defined as the detection of SARS-CoV-2 by RT-PCR and mild or worse disease severity within 21 days of detection. Additional endpoints include cumulative incidence of SARS-CoV-2 infection, moderate or worse disease severity within 21 days of detection, as well as safety.

Residents and staff were tested for SARS-CoV-2 weekly – whether or not they exhibited symptoms – providing robust surveillance data regarding the impact of bamlanivimab on infection rates and symptomatic COVID-19 diagnoses in this population.

The study is ongoing as an open-label trial evaluating bamlanivimab alone or administered together with another antibody as a treatment for high-risk individuals (residents and staff) diagnosed with COVID-19 at long-term care facilities.

Across all treatment arms, the trial will enroll up to 5,000 participants.

About Lilly’s COVID-19 Efforts  
Lilly is bringing the full force of its scientific and medical expertise to attack the coronavirus pandemic around the world. Existing Lilly medicines are being studied to understand their potential in treating complications of COVID-19, and the company is collaborating with partner companies to discover novel antibody treatments for COVID-19. Lilly is testing both single antibody therapy as well as combinations of antibodies as potential therapeutics for COVID-19. Click here for resources related to Lilly’s COVID-19 efforts.

About Eli Lilly and Company  
Lilly is a global healthcare leader that unites caring with discovery to create medicines that make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. To learn more about Lilly, please visit us at www.lilly.com and www.lilly.com/news. P-LLY

 Lilly Cautionary Statement Regarding Forward-Looking Statements 

This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about bamlanivimab (LY-CoV555) as a potential treatment for patients with or at risk of infection from COVID-19, as well as collection of data regarding its effectiveness, its supply and delivery, and reflects Lilly’s current beliefs and expectations. However, as with any such undertaking, there are substantial risks and uncertainties in the process of drug research, development and commercialization. Among other things, there can be no guarantee that future study results will be consistent with the results to date, that bamlanivimab will prove to be a safe and effective treatment or preventative for COVID-19, that bamlanivimab will receive regulatory approvals or additional authorizations, that patients will volunteer to participate in the study or achieve positive outcomes or that we can provide an adequate supply of bamlanivimab in all circumstances. For a further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly’s expectations, please see Lilly’s most recent Forms 10-K and 10-Q filed with the U.S. Securities and Exchange Commission. Lilly undertakes no duty to update forward-looking statements.
 

Refer to:  

Molly McCully; [email protected]; 317-478-5423 (Media)

Dani Barnhizer; [email protected]; 317-607-6119 (Media)

Kevin Hern; [email protected]; 317-277-1838 (Investors)  

 

 

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SOURCE Eli Lilly and Company