Market Newsdesk

Company Generated More Than 211 Million Kilograms of Plastic Packaging Waste in 2019 According to Report by Oceana

Oceana calls on Amazon to address its contribution to the plastic disaster that is devastating the world’s oceans and marine life and provide its customers with plastic-free choices

TORONTO, Dec. 15, 2020 (GLOBE NEWSWIRE) — Oceana has today released a report – based on an analysis of e-commerce packaging data – that found Amazon generated 211 million kilograms of plastic packaging waste last year. This is comprised of the air pillows, bubble wrap and other plastic packaging items added to the approximately seven billion Amazon packages delivered in 2019, according to news accounts.¹ The report found that Amazon’s estimated plastic packaging waste, in the form of air pillows alone, would circle the Earth more than 500 times.

The study also, by combining the e-commerce packaging data with findings from a recent study published in Science,² estimates that up to 10.18 million kilograms of Amazon’s plastic packaging waste entered and polluted the world’s freshwater and marine ecosystems in 2019, the equivalent of dumping a delivery van payload of plastic into the oceans every 70 minutes.

It also found that Amazon’s Canadian plastic footprint is disproportionately large, generating an estimated 21.3 million kilograms of plastic waste in Canada in 2019 – 1.2 times more than in India, and more than Japan, Brazil, Spain and Mexico combined. The online retail giant has cornered 48 per cent of the Canadian e-commerce market, with estimated sales in 2019 exceeding $9 billion (CDN).

“Amazon is ubiquitous in Canada. Unfortunately, so is plastic packaging, which makes up about half of our total plastic waste,” said Josh Laughren, Executive Director, Oceana Canada. “Given how much value Amazon is getting from Canadian consumers – including from people in remote communities where few other options are available – it has a moral obligation to offer plastic-free packaging to ensure this doesn’t come at a great cost to the health of our oceans and environment.”

“The amount of plastic waste generated by the company is staggering and growing at a frightening rate,” noted Oceana’s Senior Vice President, Matt Littlejohn. “Our study found that the plastic packaging and waste generated by Amazon’s packages is mostly destined, not for recycling, but for the landfill, the incinerator or the environment including, unfortunately, our waterways and sea, where plastic can harm marine life. It’s time for Amazon to listen to its customers, who, according to recent surveys want plastic-free alternatives, and make real commitments to reduce its plastic footprint.”

Plastic is a major source of pollution and is devastating the world’s oceans. Recent studies estimated that 90 per cent of all seabirds³ and 52 per cent of all sea turtles⁴ have ingested plastic. Sea turtles and other ocean animals mistake the kind of plastic used by Amazon as food, which can ultimately prove fatal. Scientific reports have estimated that only nine per cent of all plastic ever produced has been recycled and 91 per cent has ended up in landfills, incinerated or in the environment, including the oceans.⁵ The rapidly growing plastic pollution crisis needs to be solved by major plastic polluters like Amazon taking steps to reduce plastics, rather than making empty claims about recycling.

The report discloses that the type of plastic often used in packaging by Amazon, referred to as plastic film, is effectively not recycled, despite the company’s claims of recyclability. Most municipal curbside recycling programs in Canada, the United States and the United Kingdom do not accept this kind of plastic.

The report also found that:

• Amazon customers overwhelmingly want the company to reduce plastic packaging. Oceana surveyed more than 5,000 Amazon customers in Canada, the U.S. and the UK in 2020 and found that 86 per cent were concerned about plastic pollution and its impact on the oceans; 92 per cent were upset that plastic recycling does not work; and 87 per cent wanted Amazon and other major online retailers to offer plastic-free packaging choices at checkout.
• Unlike other companies seeking to move away from plastic, Amazon appears to be prioritizing the increased use of “flexible packaging” made of plastic. It has stated it uses flexible packaging to help protect the climate and environment⁶ but has not publicly disclosed the data underlying this claim or its plastic footprint.
• Amazon has already shown it can rapidly reduce plastic packaging on a very large scale. After India passed a law to fight plastic pollution, Amazon eliminated plastic packaging from fulfillment centers in India⁷ and has introduced a paper-based lightweight mailer that it reports has been used 100 million times.⁸ Amazon has failed to apply these clear steps forward on a company-wide level to solve its plastic problem.
• Amazon’s plastic waste and pollution footprint is expected to drastically increase, given analysts’ recent estimates that the company sales will increase by more than a third in 2020.⁹

The report calls on Amazon to reduce its plastic footprint and:

• Listen to its customers: As an immediate measure, Amazon should give its customers what they want and offer plastic-free packaging as an option at checkout.
• Be fully transparent and hold itself accountable for its plastic footprint and environmental impact as it already has for climate change: Amazon should report on its plastic footprint on a regular basis. This data should be independently verified.
• Eliminate plastic packaging as it has already done in India. Amazon should also increase products shipped in reusable containers and adopt policies that can be demonstrated to reduce plastic pollution, rather than making empty claims about “recyclability.”

To access the full Oceana report, please visit oceana.org/PlasticFreeAmazon. To find out about Oceana’s campaign to reduce plastics, go to oceana.org/plastics. To find out more about Oceana Canada’s campaign to end the plastic disaster, go to oceana.ca/plastics.

Oceana is the largest international advocacy organization dedicated solely to ocean conservation. Oceana is rebuilding abundant and biodiverse oceans by winning science-based policies in countries that control one-third of the world’s wild fish catch. With more than 225 victories that stop overfishing, habitat destruction, pollution, and the killing of threatened species like turtles and sharks, Oceana’s campaigns are delivering results. A restored ocean means that 1 billion people can enjoy a healthy seafood meal, every day, forever. Together, we can save the oceans and help feed the world.

Oceana Canada was established as an independent charity in 2015 and is part of the largest international advocacy group dedicated solely to ocean conservation. Oceana Canada has successfully campaigned to end the shark fin trade, make rebuilding depleted fish populations the law, improve the way fisheries are managed and protect marine habitat. We work with civil society, academics, fishers, Indigenous Peoples and the federal government to return Canada’s formerly vibrant oceans to health and abundance. By restoring Canada’s oceans, we can strengthen our communities, reap greater economic and nutritional benefits and protect our future.

Contacts: Tammy Thorne, Oceana Canada, [email protected], 437-247-0954 and Kathleen Munro, Pilot PMR, [email protected], 902-789-3165. Media Assets can be found here.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/5ebe7834-ceb6-42a8-bbf0-b0f0bb9e3566

https://www.globenewswire.com/NewsRoom/AttachmentNg/aa3a51b9-0819-47a5-ac3c-cc585d834386

https://www.globenewswire.com/NewsRoom/AttachmentNg/59f421e6-f411-4eb1-9bb7-d25f5d2bb3b4

A video accompanying this release is available at: 

https://www.globenewswire.com/NewsRoom/AttachmentNg/14f4a484-1d09-407d-9dd8-0905619f79c6

 

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¹ Amazon announced that it delivered 3.5 billion packages through its own delivery systems in 2019. Amazon (2019) Amazon spokespeople were quoted– in subsequent stories in Vox, US News and other outlets – that this represented “approximately half” of the company’s global shipping volume (and the rest was shipped through other carriers, like UPS).
² Borrelle SB, Ringma J, Law KL et.al. (2020) Predicted growth in plastic waste exceeds efforts to mitigate plastic pollution. Science 369 (2020), 1515–8. DOI: 10.1126/science.aba3656
³ Kühn S and van Franeker JA (2020) Quantitative overview of marine debris ingested by marine megafauna. Marine Pollution Bulletin 151: 110858. doi: 10.1016/j.marpolbul.2019.110858
⁴ Wilcox C, Puckridge M, Schuyler Q, Townsend K and Hardesty B (2018) A quantitative analysis linking sea turtle mortality and plastic debris ingestion. Scientific Reports 8 (2018), 12536. doi: 10.1038/s41598-018-30038-z. Available: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6137038/. Accessed Sep 20, 2020.
⁵ https://advances.sciencemag.org/content/3/7/e1700782#:~:text=Of%20this%2C%20approximately%20800%20Mt,2).
⁶ Houchens K (2020) Amazon: Addressing the challenges of e-commerce. Packaging Europe. 10 March 2020. Available https://packagingeurope.com/amazon-addressing-the-challenges-of-e-commerce/. Accessed Sep 20, 2020
⁷ — (2020) Amazon India successfully eliminates 100% single-use plastic in packaging across its Fulfilment Centers. Amazon, 29 June 2020. Available: https://blog.aboutamazon.in/sustainability/amazon-india-successfully-eliminates-100-single-use-plastic-in-packaging-across-its-fulfilment-centers#:~:text=Sustainability-,Amazon%20India%20successfully%20eliminates%20100%25%20single%2Duse%20plastic%20in%20packaging,an%20environmentally%20sustainable%20supply%20chain. Accessed Sep 20, 2020.
⁸ https://www.aboutamazon.com/news/sustainability/the-big-ideas-and-tiny-details-behind-amazons-new-recyclable-mailer 
⁹ https://finance.yahoo.com/quote/AMZN/analysis

TORONTO, Dec. 15, 2020 (GLOBE NEWSWIRE) — Excellence Canada and Canada Life are pleased to announce the 2020 Canada’s Healthy Workplace Month® Great Employers. These organizations are being celebrated for their planning and actions to foster physically and psychologically safe and healthy workplaces, striving to continually improve across four main areas of focus, namely:

Healthy Lifestyles

This involves helping employees develop and maintain healthy lifestyle practices, eat well, exercise, drop unhealthy or risky habits, and make optimal use of the healthcare system.

Mental Health and Workplace Culture

Culture is created, reinforced and sustained by ongoing patterns of relationships and communications that can have an important influence on psychological health and safety. The organizational culture reflects values that support mental health, such as trust, fairness, respect, diversity, inclusion and teamwork.

Physical Environment

Aiming to reduce the risk of fatalities and workplace disabilities, this area of focus involves fully and continually addressing matters of occupational health and safety, including the possible impacts of new technologies, production changes, increasing demands on time, and cost containment measures.

Corporate Social Responsibility

The interrelationship between the community, the workplace and the employee can influence employee health and well-being, as well as the health and performance of the organization. CSR activities are often seen as voluntary, going above and beyond what is legislated or required.

This year’s recipients are, in alphabetical order:

Organization	City	Province
AGS Rehab Solutions Inc.	Mississauga	ON
AV Mechanical Inc.	Vaughan	ON
CanmetENERGY-Ottawa, Natural Resources Canada	Nepean	ON
Children’s Hospital of Eastern Ontario	Ottawa	ON
Collingwood General & Marine Hospital	Collingwood	ON
Connecting Care & Points West Living	Edmonton	AB
Creative Options Regina	Regina	SK
Health Standards Organization (HSO)	Ottawa	ON
Lethbridge College	Lethbridge	AB
Mary Berglund Community Health Centre Hub	Ignace	ON
Vancouver Island Brewing	Victoria	BC
Victoria Airport Authority	Sidney	BC

Find out what it takes to be a Canada’s Healthy Workplace Month® Great Employeronline.

Next year’s applicants can make their online submissions at www.healthyworkplacemonth.ca beginning Aug. 1, 2021. The deadline to apply is Oct. 31 and the 2021 recipients will be announced on Dec. 7, 2021.

Excellence Canada, an independent not-for-profit organization, would like to thank Canada Life for its generosity and support as the Presenting Sponsor of


Canada’s Healthy Workplace Month



®

. Established by Excellence Canada over 20 years ago, Canada’s Healthy Workplace Month® is celebrated every October. Our website provides organizations with year-round resources, tools, and knowledge that they need to implement a long-term Healthy Workplace® strategy.

Thank you to all our sponsors:

Presenting Sponsor

• Canada Life

Supporting Sponsors

• Civic Action
• Durham Region
• SE Health
• WSIB

About The Canada Life Assurance Company


Canada Life
is a leading insurance, wealth management and benefits provider focused on improving the financial, physical and mental well-being of Canadians. For more than 170 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we’ve made.

As of January 1, 2020, Great-West Life, London Life and Canada Life became one company – Canada Life, and today, we proudly serve more than 13 million customer relationships from coast to coast to coast.

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

About Excellence Canada

Excellence Canada is an independent, not-for-profit corporation that is committed to advancing organizational excellence across Canada. As a national authority on Excellence, Innovation and Wellness®, Healthy Workplace®, and Mental Health at Work® awards, Excellence Canada provides excellence frameworks, standards, and independent verification and certification to organizations of all sizes and in all sectors. It is also the custodian and adjudicator of the Canada Awards for Excellence program, of which the Patron is Her Excellency, the Right Honourable Julie Payette, C.C., C.M.M., C.O.M., C.D., C.Q., Governor General of Canada.

“Canada’s Healthy Workplace Month” and “Healthy Workplace” are Registered Trademarks of Excellence Canada.

For more information contact:

Liz Kulyk
Assistant Vice-President, Media & Public Affairs
The Canada Life Assurance Company
204-391-8515
[email protected]

Karen Jackson
Senior Advisor, Healthy Workplace Strategies
Excellence Canada
1(800) 263-9648 x250
[email protected]

Gibraltar, Dec. 15, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Digital asset investment company B21C Limited  announced today that it has completed financing from global investment firm CCIX Global (HK) Limited in the form of equity and tokens. 

CCIX Global founder Vishal Uttam will be joining the B21 board, taking an active role in strategy and investor relations. “Vishal’s extensive experience at CCIX Global with early stage startups and in the Fintech domain will help drive B21’s position as a market leader and represents the next step in fulfilling our mission to bring digital asset investing to the mainstream,” said B21’s founder, Nitin Agarwal.

B21C Limited is the company behind crypto investing app B21 Invest launched earlier this year. B21 aims to provide a simple experience for both first time and existing retail investors by enabling easy access to cryptocurrencies including Bitcoin, Ether, EOS and other digital assets. The fully regulated and custodial investment app enables users to keep their funds secured without the hassle and complexity of private key management. 

This solution features investment tools designed to appeal to a global mass market and allows users to effortlessly buy, sell, trade and manage their crypto assets — all through a user-friendly and intuitive mobile app. The interface enables easy monitoring and rebalancing of portfolios, along with the ability to liquidate positions in just a few taps. 
With the recent announcement of PayPal offering crypto services, the digital asset industry is poised to head towards mass adoption; with prominent businesses and financial institutions entering the space. This has also led to market demand for retail investment products such as B21 Invest. 

The CCIX Global investment is a reflection of B21’s extensive team experience in Fintech. Further on, the B21 roadmap includes the addition of international payment cards for easy withdrawal of funds and simplified DeFi investment products along with other investment options.

“B21 Invest sets a new standard for ease-of-use, flexibility, and features that the market desperately needs. Payment cards, staking rewards, and other alternative investment assets in the pipeline truly make it the one-stop shop solution for retail investors,” says Vishal Uttam, founder at CCIX Global. “I have worked extensively with the team and look forward to seeing how this winning combination of sophisticated tech and a brilliantly simple interface will continue to grow and evolve the industry.”

B21 Invest users can invest via ACH transfers, wire transfers, or payment cards like Visa and Mastercard on the B21 Invest app, B21 Invest available in 65 countries via the App Store and Google Play. 

About B21

B21 offers the simplest way to invest in and manage crypto asset portfolios.  Our solution provides next generation investment tools designed to appeal to a growing international market. It allows users to simply buy, sell, trade and manage their crypto assets, all through a user-friendly and intuitive interface.  The B21 Invest app is operated by Digital Software Solutions Inc. under exclusive license from B21C Limited. Asset custodial accounts are provided by PrimeTrust.  For more information, visit b21.io. 

About CCIX
 

CCIX Global, Inc. is a global investment management firm providing sought-after access to best-in-class and top decile investment opportunities for individual and institutional investors. A valued partner in pursuing investment success in a tech-powered economy, CCIX Global is focused on the rapidly evolving digital asset and technology sectors. Its areas of focus include: fintech, digital currency technology, and early stage investments. For more information, visit CCIX.global.

MEDIA CONTACT:
[email protected] 

[email protected]

SAN JOSE, Calif., Dec. 15, 2020 (GLOBE NEWSWIRE) — Nubeva Technologies Ltd. (TSX-V: NBVA), a developer of decryption software that broadens network traffic visibility, today announced a multi-year licensing agreement with a leading global network performance and security software provider. The agreement licenses Nubeva’s award-winning Symmetric Key Intercept (SKI) software suite to enhance the provider’s existing products and enable visibility into encrypted network traffic. The seven-figure agreement includes an up front payment, annual licensing fees and royalties as the SKI technology is placed into service. 

“More than 90% of all traffic is TLS (SSL) encrypted for security and privacy, yet full packet inspection is an imperative for security and application monitoring by enterprises and government entities,” said Steve Perkins, Chief Marketing Officer at Nubeva. “Adoption of Nubeva’s breakthrough SKI technology is becoming a must-have for security and monitoring systems challenged by modern encryption standards and ever-evolving computing and networking models. This agreement cements one of the world’s leading network performance and security monitoring companies as an OEM licensee of our Symmetric Key Intercept technology.”

Nubeva Symmetric Key Intercept provides best-in-class functionality and advanced visibility into traffic previously impossible to see with the growing adoption of TLS 1.3. The software provides dramatically improved decryption capability, price performance, and simplicity of both development and end-user operation over previous methods of decryption. SKI technology has broad applicability and use cases including next-generation firewalls, secure web gateways and proxies, SD-WAN, intrusion prevention, APT, and DLP systems as well as application monitoring and assurance systems. The solution also has unique and powerful applicability to 5G packet core monitoring.

“We created a new, state-of-the-art way to discover and extract session encryption secrets from servers and clients for VMs, containers, Kubernetes, and metal, in clouds and datacenters, regardless of protocol, ciphers, or session type,” said Randy Chou, CEO at Nubeva. “With Nubeva embedded in this provider’s software solutions, their clients will be able to identify and respond to more anomalies and security risks.”

In 2020, the company licensed its software to numerous manufacturers including multi-billion dollar companies and high-growth providers in the security and network monitoring space. Nubeva’s turnkey solution can be adopted and customized quickly by a wide range of solutions to close the visibility gap created by modern encryption.

Since Nubeva’s software gives the licensee a competitive advantage, a public announcement is anticipated in the new year, when the product is formally released.

About Nubeva Technologies Ltd. 

Nubeva Technologies Ltd. has changed the decrypted visibility game with pure, symmetric decryption. Nubeva helps enterprises gain the visibility needed through decryption so they can fully inspect network traffic. The need to inspect data in motion is fundamental to network security and application monitoring and assurance. The shift to SaaS, the cloud, and stronger encryption practices like perfect forward secrecy and TLS 1.3, create new and unique challenges for in-line and out-of-band decryption and visibility solutions. Nubeva re-imagined TLS visibility and created a new solution for the modern era of strong encryption in dynamic and distributed compute environments. Visit nubeva.com for more information.

Forward-Looking Statements 
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the cybersecurity industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable). 

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

For additional information, please contact: 

Nubeva Technologies Ltd.
Steve Perkins, Chief Marketing Officer       
1-(844)538-4638

Chuck Grothausc
[email protected]
844-538-4638

ANN ARBOR, Mich., Dec. 15, 2020 (GLOBE NEWSWIRE) — Esperion (NASDAQ: ESPR) today announced the appointment of Sheldon Koenig, a proven leader in the cardiovascular market, as chief operating officer, effective today. Koenig will report directly to Tim M. Mayleben, president and chief executive officer of Esperion. Koenig joins the executive team of Esperion and will provide vision, leadership, strategy and operations expertise to further evolve Esperion into a commercial leader in cardiovascular medicine, as well as a highly successful, efficiently operated global company.  

“Sheldon brings an incredible amount of relevant experience to our company that will be familiar to all of our stakeholders. His commercial knowledge and applied learnings in directly correlated launches will be invaluable to us and we are pleased to have him join Esperion,” said Tim M. Mayleben, president and chief executive officer of Esperion. “Sheldon is the right leader at the right time to navigate our company through the opportunities that lie ahead of us as we continue a period of rapid growth as a company in 2021 and beyond.”

Koenig is an accomplished leader in the cardiovascular space and brings over 25 years of leadership roles to Esperion. Most recently, he served as executive vice president and chief commercial officer of Portola pharmaceuticals until it was acquired by Alexion. At Portola, Koenig and his team delivered $130M+ in Andexxa^® sales in the first year of commercialization, making it one of the top five most successful hospital launches in 30 years. Prior to joining Portola, Koenig was senior vice president and head of the cardiovascular franchise for Sanofi where he led U.S. business operations and product launches in more than 20 countries. Previously, he served as vice president and global brand leader for the cardiovascular division of Merck & Co, Inc. where, for more than 25 years, he took on roles of increasing responsibility within the Company’s cardiovascular and thrombosis franchises and led marketing for the launch of ezetimibe.

“Joining Esperion gives me the opportunity to make a meaningful impact on an organization that has incredible potential to make a difference in the lives of patients where currently marketed medicines fall short,” said Koenig. “The company is in a unique position to deliver with two recently approved and launched medicines in a market that is neglected in terms of innovation and where physicians and patients alike can benefit from additional therapeutic options. I am excited to join Esperion at such an exciting stage and apply the collective learnings from my complementary experiences to help execute on the Esperion mission of lipid management for everyone.”

Koenig will assume responsibility for the commercial team at Esperion. As part of today’s announcement, Mark Glickman, chief commercial officer, will leave Esperion, effective immediately. “I want to thank Mark and recognize his contribution in building our commercial function and laying the initial groundwork in which our company can grow,” said Mayleben.

ESPERION Therapeutics

Through scientific and clinical excellence, and a deep understanding of cholesterol biology, the experienced Lipid Management Team at ESPERION is committed to developing new LDL-C lowering medicines that will make a substantial impact on reducing global cardiovascular disease, the leading cause of death around the world. For more information, please visit www.esperion.com and follow us on Twitter at www.twitter.com/EsperionInc.

CLEAR Cardiovascular Outcomes Trial

The effect of bempedoic acid on cardiovascular morbidity and mortality has not been determined. ESPERION initiated a global cardiovascular outcomes trial (CVOT) to assess the effects of bempedoic acid on the occurrence of major cardiovascular events in patients with, or at high risk for, cardiovascular disease (CVD) who are only able to tolerate less than the lowest approved daily starting dose of a statin and are considered “statin averse.” The CVOT — known as CLEAR Cardiovascular Outcomes Trial — is an event-driven, global, randomized, double-blind, placebo-controlled study that completed enrollment in August 2019 of over 14,000 patients with hypercholesterolemia and high CVD risk at over 1,400 sites in 32 countries.

ESPERION Therapeutics’ Commitment to Patients with Hyperlipidemia

High levels of LDL-C can lead to a build-up of fat and cholesterol in and on artery walls (known as atherosclerosis), potentially leading to cardiovascular events, including heart attack and stroke. In the U.S., 96 million people, or more than 37 percent of the adult population, have elevated LDL-C. There are approximately 18 million people in the U.S. living with elevated levels of LDL-C despite taking maximally tolerated lipid-modifying therapy — including individuals considered statin averse — leaving them at high risk for cardiovascular events¹. In the United States, more than 50 percent of atherosclerotic cardiovascular disease (ASCVD) patients and heterozygous familial hypercholesterolemia (HeFH) patients who are not able to reach their guideline recommended LDL-C levels with statins alone need less than a 40 percent reduction to reach their LDL-C threshold goal².

ESPERION’s mission as the Lipid Management Company is to deliver oral, once-daily medicines that complement existing oral drugs to provide the additional LDL-C lowering that these patients need.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding Esperion’s commercialization plans for bempedoic acid tablet, its expectations for the market for medicines to lower LDL-C and the impact of bempedoic acid tablet in such market, including the commercial launch and the market adoption of bempedoic acid tablet in the United States and European Union. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause Esperion’s actual results to differ significantly from those projected, including, without limitation, delays or failures in Esperion’s clinical development and commercialization plans, or approval of expanded indications, that existing cash resources may be used more quickly than anticipated, the impact of COVID-19 on our business, clinical activities and commercial development plans, and the risks detailed in Esperion’s filings with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Esperion disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by law.

References

(1) ESPERION market research on file: research project interviewing 350 physicians. ESPERION Therapeutics, Inc. Sept-Oct 2018.
(2) Data on file: analysis of NHANES database. ESPERION Therapeutics, Inc. 2018.

All registered trademarks are property of their respective owners.

Contact:
Ben Church
ESPERION
[email protected]
734-864-6774

 

• Klisyri
  
  ^®
  
  is the first FDA approved proprietary product for Athenex
  
• First-in-class microtubule inhibitor indicated for the topical treatment of actinic keratosis (AK) on the face or scalp with a 5-day application course
• Klisyri will be manufactured by Athenex
• Almirall will launch Klisyri in the U.S. in first quarter 2021

BUFFALO, N.Y., Dec. 15, 2020 (GLOBE NEWSWIRE) — Athenex, Inc., (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies for the treatment of cancer and related conditions, today announced that the U.S. Food and Drug Administration (FDA) has approved Klisyri® (tirbanibulin) for the topical treatment of actinic keratosis (AK) on the face or scalp. Klisyri is the first FDA approved branded proprietary product for Athenex and will be launched in partnership with Almirall in the U.S. during the first quarter of 2021. Klisyri will be manufactured by Athenex, highlighting the vertically integrated capabilities of the company ranging from a preclinical lead to a developed product for market launch.

“The FDA approval of Klisyri is a significant milestone for Athenex. Klisyri is a home-grown product discovered and characterized by Athenex scientists and developed from pre-IND to NDA by the Athenex team. We are extremely proud of our team’s excellent execution,” said Dr. Johnson Lau, Chairman and Chief Executive Officer of Athenex. “Approval demonstrates our ability to execute upon the entirety of the drug development and registration process. We are excited to partner with Almirall to bring this first-in-class microtubule inhibitor to patients with actinic keratosis in the US.”

Dr. Rudolf Kwan, Chief Medical Officer of Athenex added, “The FDA approval of tirbanibulin ointment represents a first-in-class microtubule inhibitor for the treatment of actinic keratosis. We believe this small molecule platform has the potential beyond actinic keratosis and are leveraging the platform to develop therapies for other oncology indications.”

Mr. Peter Guenter, CEO of Almirall, stated, “We are delighted to partner with Athenex to market Klisyri in the U.S. and in Europe. This approval from the FDA represents a new option for Dermatologists and marks an important further step for Actinic Keratosis patients. What makes this new therapy particularly exciting is the 5-day course of treatment and its good tolerability. We look forward to the launch of Klisyri in the US in the first quarter of 2021.”

The FDA approved Klisyri based on the data from two pivotal, randomized, double-blind, vehicle-controlled Phase III studies (KX01-AK-003 and KX01-AK-004) that evaluated the efficacy and safety of Klisyri (tirbanibulin) ointment 1% in 702 adults with actinic keratosis of the face or scalp. Tirbanibulin demonstrated complete clearance of actinic keratosis lesions at day 57 in treated face or scalp areas in a significantly higher number of patients compared to vehicle. The most common adverse events were application site pruritus and pain reported by 9% and 10% of treated patients, respectively.

Actinic keratosis is a pre-cancerous skin lesion and is the second most common diagnosis made by dermatologists in the United States. If left untreated, 10-15% of AK lesions will develop into skin cancers.

Athenex has partnered with Almirall (Almirall, S.A., BME: ALM) to market Klisyri for the treatment of actinic keratosis on the face or scalp in the US and EU (including Russia) markets. In addition to the partnership with Almirall, Athenex has partnered with PharmaEssentia (6446.TWO) for actinic keratosis in Taiwan and has partnered with Xiangxue Pharmaceuticals (SHE:300147) for actinic keratosis in China, Hong Kong, and Macau.

About Klisyri



^®


Klisyri® (tirbanibulin) is a microtubule inhibitor indicated for the topical treatment of actinic keratosis on the face or scalp. The two double-blind, vehicle-controlled, randomized, parallel group, multicenter, Phase III studies (KX01-AK-003 and KX01-AK-004) evaluated the efficacy and safety of tirbanibulin ointment 1% (10 mg/g) in adults with actinic keratosis on the face or scalp.

The studies enrolled a total of 702 patients across 62 sites in the U.S. Tirbanibulin ointment 1% (10 mg/g) or vehicle (randomized 1:1) was self-administered to 25 cm² of the face or scalp encompassing 4-8 typical AK lesions, once daily for 5 consecutive days.

Both Phase III studies, KX01-AK-003 and KX01-AK-004, achieved their primary endpoint, which was defined as 100% clearance of the AK lesions at Day 57 within the face or scalp treatment areas, each study achieving statistical significance (p<0.0001) on this endpoint. In the KX01-AK-003 study, complete clearance was observed in 44% of the patients treated with tirbanibulin versus 5% for the vehicle treated groups. In the KX01-AK-004 study, complete clearance was observed in 54% of the patients treated with tirbanibulin and 13% for vehicle treated groups.

IMPORTANT SAFETY INFORMATION

WARNINGS AND PRECAUTIONS

Ophthalmic Adverse Reactions
KLISYRI may cause eye irritation. Avoid transfer of the drug into the eyes and to the periocular area during and after application. Wash hands immediately after application. If accidental exposure occurs, instruct patient to flush eyes with water and seek medical care as soon as possible.

Local Skin Reactions
Local skin reactions, including severe reactions (erythema, flaking/scaling, crusting, swelling, vesiculation/pustulation and erosion/ulceration) in the treated area can occur after topical application of KLISYRI. Avoid use until skin is healed from any previous drug, procedure, or surgical treatment. Occlusion after topical application of KLISYRI is more likely to result in irritation.

ADVERSE REACTIONS
The most common adverse reactions (incidence ≥2%) were local skin reactions, application site pruritus, and application site pain.

About Actinic Keratosis
Actinic keratosis or solar keratosis is a chronic and precancerous skin disease that occurs primarily in areas that have been exposed to ultraviolet (UV) radiation for a long period of time. It is usually found on the face, ears, lips, bald scalp, forearms, the posterior part of the hands, and lower legs. It is not possible to predict which AK lesions will develop into squamous cell carcinoma, so all lesions should be treated by a dermatologist. Actinic keratosis is the second most common diagnosis made by dermatologists in the United States.

About Almirall
Almirall is a global biopharmaceutical company focused on skin health. We collaborate with scientists and healthcare professionals to address patient’s needs through science to improve their lives. Our Noble Purpose is at the core of our work: “Transform the patients’ world by helping them realize their hopes and dreams for a healthy life”. We invest in differentiated and groundbreaking medical dermatology products to bring our innovative solutions to patients in need.

The company, founded in 1943 and headquartered in Barcelona, is publicly traded on the Spanish Stock Exchange and is a member of the IBEX 35 (ticker: ALM). Throughout its 77-year history, Almirall has retained a strong focus on the needs of patients. Currently, Almirall has a direct presence in 21 countries and strategic agreements in over 70, through 13 subsidiaries, with about 1,800 employees. Total revenues in 2019 were 908.4 million euros. For more information, please visit almirall.com.

About Athenex, Inc.
Founded in 2003, Athenex, Inc. is a global clinical stage biopharmaceutical company dedicated to becoming a leader in the discovery, development, and commercialization of next generation drugs for the treatment of cancer. Athenex is organized around three platforms, including an Oncology Innovation Platform, a Commercial Platform, and a Global Supply Chain Platform. The Company’s current clinical pipeline is derived from four different platform technologies: (1) Orascovery, based on P-glycoprotein inhibitor, (2) Src kinase inhibition, (3) T-cell receptor-engineered T-cells (TCR-T), and (4) Arginine deprivation therapy. Athenex’s employees worldwide are dedicated to improving the lives of cancer patients by creating more active and tolerable treatments. Athenex has offices in Buffalo and Clarence, New York; Cranford, New Jersey; Houston, Texas; Chicago, Illinois; Hong Kong; Taipei, Taiwan; multiple locations in Chongqing, China; Manchester, UK; Guatemala City, Guatemala and Buenos Aires, Argentina. For more information, please visit www.athenex.com.

Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. These forward-looking statements are typically identified by terms such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “goal,” “guidance,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “preliminary,” “probable,” “project,” “promising,” “seek,” “should,” “will,” “would,” and similar expressions. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the development stage of our primary clinical candidates and related risks involved in drug development, clinical trials, regulation, manufacturing and commercialization; our reliance on third parties for success in certain areas of Athenex’s business; our history of operating losses and need to raise additional capital to continue as a going concern; uncertainties around our ability to meet funding conditions under our financing agreements and access to capital thereunder; risks and uncertainties related to the COVID-19 pandemic and its potential impact on our operations, cash flow and financial condition; competition; intellectual property risks; risks relating to doing business internationally and in China; the risk of production slowdowns or stoppages or other interruptions at our Chongqing facilities; and the other risk factors set forth from time to time in our SEC filings, copies of which are available for free in the Investor Relations section of our website at http://ir.athenex.com/phoenix.zhtml?c=254495&p=irol-sec or upon request from our Investor Relations Department. All information provided in this release is as of the date hereof and we assume no obligation and do not intend to update these forward-looking statements, except as required by law.

CONTACTS

Investors

Steve Rubis
Athenex, Inc.
Email: [email protected] 

Daniel Lang, MD
Athenex, Inc.
Email: [email protected] 

Tim McCarthy
LifeSci Advisors, LLC
Email: [email protected]

Media

Gloria Gasaatura
LifeSci Communications, LLC
Email: g[email protected]

• Gross Profit increased by $4.1 million, or almost 3%, compared to the prior year period as a result of an $.08 increase in gross margin per gallon
• Operating Income for the quarter increased by $7.1 million.
• Operating expense decreased by $5.5 million or 5%.  
• Tank Exchange sale locations now exceed 62,000, up over 6,000 from prior year, contributing to 27% growth in volumes.

OVERLAND PARK, Kan., Dec. 15, 2020 (GLOBE NEWSWIRE) — Ferrellgas Partners, L.P. (OTC: FGPR) (“Ferrellgas” or the “Company”) today reported financial results for its first quarter ended October 31, 2020.

The Company continued its strong operational performance during the first quarter of fiscal 2021, leading to a $7.1 million increase in operating income and setting a foundation for continued growth in fiscal 2021. The Company implemented strategies to deliver gallons more efficiently leading to significant decreases in operating expense during the quarter. The Company sold 167.6 million propane gallons for the quarter, compared to 179.9 million in the prior year quarter. However, these overall volume decreases were partially offset by a continued increase in Blue Rhino tank exchange sales due to increased strategies in marketing and “stay at home” buying trends. Margin per gallon for the year was $.08, or 10% higher than the prior year, attributable to strategic product placement, sound supply chain logistics strategies and lower wholesale propane prices. Overall, the increase in margin, increase in tank exchange volumes and customer growth were partially offset by decreased retail sales volumes due to a relatively weaker economy. This has resulted in an increase in gross margin dollars of $4.1 million or 2.6% higher than prior year. Operating expenses decreased $5.5 million or 5% due to the strategies to deliver gallons more efficiently.

The Company continues to implement numerous initiatives to increase efficiency and profitability. These initiatives produced strong results in the first quarter and enable continued high performance in the areas of growth and operational expense management. Strong execution by a leaner and more agile workforce of essential workers is driving high performance throughout the Company, both in the field and in corporate locations.

For the quarter, the Company reported a net loss attributable to Ferrellgas Partners, L.P. of $46.1 million, or $0.47 per common unit, compared to prior year period net loss of $45.3 million, or $0.46 per common unit. Adjusted EBITDA, a non-GAAP measure, increased by $8.8 million, or 35%, to $33.9 million in the current quarter compared to $25.1 million in the prior year quarter. “I could not be more proud of our people as we continue the transformation of the company. If you compare our financial results with first quarter last year you can see why,” said James E. Ferrell, Interim Chief Executive Officer and President of Ferrellgas.

As previously disclosed, the Company entered into a Transaction Support Agreement (the “TSA”) with a majority of the holders of the Company’s 8.625% Senior Notes Due 2020 (the “2020 Notes”) on December 10, 2020. The TSA sets forth a restructuring process to satisfy the obligations under the 2020 Notes and refinance the balance sheet of the Company and its operating partnership.   The transactions contemplated by the TSA are intended to de-lever our balance sheet, consistent with the Company’s strategy to create a solid financial foundation for future growth.

The TSA executed between the Company and its noteholders will permit Ferrellgas to remain an independent, employee-owned business under current management while restructuring substantially all of its debt. Importantly, the restructuring will have no impact on the Company’s operations, will not inhibit its ability to provide propane to its almost 800,000 customers throughout the United States and Puerto Rico, and will allow its premier Blue Rhino tank exchange business to continue to expand beyond the current 60,000 selling locations.

As previously announced, the Company indefinitely suspended its quarterly cash distribution as a result of not meeting the required fixed charge coverage ratio contained in the senior unsecured notes due 2020.

About Ferrellgas

Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas, L.P., and subsidiaries, serves propane customers in all 50 states, the District of Columbia, and Puerto Rico. Ferrellgas employees indirectly own 22.8 million common units of the partnership, through an employee stock ownership plan. Ferrellgas Partners, L.P. filed a Form 10-K with the Securities and Exchange Commission on October 15, 2020. Investors can request a hard copy of this filing free of charge and obtain more information about the partnership online at www.ferrellgas.com.

Forward Looking Statements

Statements in this release concerning expectations for the future are forward-looking statements. A variety of known and unknown risks, uncertainties and other factors could cause results, performance, and expectations to differ materially from anticipated results, performance, and expectations. These risks, uncertainties, and other factors include those discussed in the Form 10-K of Ferrellgas Partners, L.P., Ferrellgas Partners Finance Corp., Ferrellgas, L.P., and Ferrellgas Finance Corp. for the fiscal year ended July 31, 2020, and in other documents filed from time to time by these entities with the Securities and Exchange Commission.

Contacts

Investor Relations – [email protected]

 

FERRELLGAS PARTNERS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except unit data)
(unaudited)
ASSETS		October 31, 2020				July 31, 2020
Current Assets:
Cash and cash equivalents (including $96,909 and $95,759 of restricted cash at October 31, 2020 and July 31, 2020, respectively)		$	299,527			$	333,761
Accounts and notes receivable, net (including $120,261 and $103,703 of accounts receivable pledged as collateral at October 31, 2020 and July 31, 2020, respectively)			119,488				101,438
Inventories			78,980				72,664
Prepaid expenses and other current assets			40,088				35,944
Total Current Assets			538,083				543,807
Property, plant and equipment, net			592,132				591,042
Goodwill, net			246,946				247,195
Intangible assets, net			101,812				104,049
Operating lease right-of-use asset			100,349				107,349
Other assets, net			73,522				74,748
Total Assets		$	1,652,844			$	1,668,190
LIABILITIES AND PARTNERS’ DEFICIT
Current Liabilities:
Accounts payable		$	44,641			$	33,944
Current portion of long-term debt (a)			859,095				859,095
Current operating lease liabilities			28,280				29,345
Other current liabilities			186,938				167,466
Total Current Liabilities			1,118,954				1,089,850
Long-term debt			1,647,106				1,646,396
Operating lease liabilities			83,337				89,022
Other liabilities			49,543				51,190
Contingencies and commitments
Partners Deficit:
Common unitholders (97,152,665 units outstanding at October 31, 2020 and July 31, 2020)			(1,171,359	)			(1,126,452	)
General partner unitholder (989,926 units outstanding at October 31, 2020 and July 31, 2020)			(71,741	)			(71,287	)
Accumulated other comprehensive income (loss)			5,534				(2,303	)
Total Ferrellgas Partners, L.P. Partners’ Deficit			(1,237,566	)			(1,200,042	)
Noncontrolling interest			(8,530	)			(8,226	)
Total Partners’ Deficit			(1,246,096	)			(1,208,268	)
Total Liabilities and Partners’ Deficit		$	1,652,844			$	1,668,190
(a) The principal difference between the Ferrellgas Partners, L.P. balance sheet and that of Ferrellgas, L.P., is $357 million of 8.625% notes which are liabilities of Ferrellgas Partners, L.P. and not of Ferrellgas, L.P.

FERRELLGAS PARTNERS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per unit data)
(unaudited)
		Three months ended									Twelve months ended
		October 31									October 31
			2020				2019					2020				2019
Revenues:
Propane and other gas liquids sales		$	281,049			$	273,385				$	1,423,455			$	1,547,277
Other			19,845				19,829					82,051				78,020
Total revenues			300,894				293,214					1,505,506				1,625,297
Cost of sales:
Propane and other gas liquids sales			137,627				134,028					676,652				832,408
Other			3,667				3,681					12,989				12,040
Gross profit			159,600				155,505					815,865				780,849
Operating expense – personnel, vehicle, plant & other			109,027				114,543					487,539				473,080
Depreciation and amortization expense			21,390				19,219					82,652				79,073
General and administrative expense			13,080				9,695					49,137				55,510
Operating expense – equipment lease expense			6,830				8,388					31,459				33,598
Non-cash employee stock ownership plan compensation charge			708				795					2,784				3,740
Loss on asset sales and disposals			813				2,235					6,502				8,699
Operating income (loss)			7,752				630					155,792				127,149
Interest expense			(54,226	)			(45,697	)				(201,491	)			(179,438	)
Loss on extinguishment of debt			–				–					(37,399	)
Other income (expense), net			108				(132	)				(220	)			218
Loss before income tax expense (benefit)			(46,366	)			(45,199	)				(83,318	)			(52,071	)
Income tax expense			87				518					420				683
Net loss			(46,453	)			(45,717	)				(83,738	)			(52,754	)
Net loss attributable to noncontrolling interest (a)			(391	)			(373	)				(521	)			(178	)
Net loss attributable to Ferrellgas Partners, L.P.			(46,062	)			(45,344	)				(83,217	)			(52,576	)
Less: General partner’s interest in net loss			(461	)			(453	)				(833	)			(525	)
Common unitholders’ interest in net loss		$	(45,601	)		$	(44,891	)			$	(82,384	)		$	(52,051	)
Loss Per Common Unit
Basic and diluted net loss per common unitholders’ interest		$	(0.47	)		$	(0.46	)			$	(0.85	)		$	(0.54	)
Weighted average common units outstanding – basic			97,152.7				97,152.7					97,152.7				97,152.7
Supplemental Data and Reconciliation of Non-GAAP Items:
		Three months ended									Twelve months ended
		October 31									October 31
			2020				2019					2020				2019
Net loss attributable to Ferrellgas Partners, L.P.		$	(46,062	)		$	(45,344	)			$	(83,217	)		$	(52,576	)
Income tax expense			87				518					420				683
Interest expense			54,226				45,697					201,491				179,438
Depreciation and amortization expense			21,390				19,219					82,652				79,073
EBITDA			29,641				20,090					201,346				206,618
Non-cash employee stock ownership plan compensation charge			708				795					2,784				3,740
Loss on asset sales and disposal			813				2,235					6,502				8,699
Loss on extinguishment of debt			–				–					37,399				–
Other income (expense), net			(108	)			132					220				(218	)
Severance expense includes $501 in operating expense and $183 in general and administrative
expense for the three ended October 31, 2020. Also includes $1,241 and $690 in operating expense
for the twelve months ended October 31, 2020 and 2019, respectively and $183 and $910 in general
and administrative expense for the twelve months ended October 31, 2020 and 2019, respectively.			684				–					1,424				1,600
Legal fees and settlements related to non-core businesses			2,508				2,043					7,880				16,843
Provision for doubtful accounts related to non-core businesses			–				–					17,325				–
Lease accounting standard adjustment and other			–				170					(116	)			170
Net loss attributable to noncontrolling interest (b)			(391	)			(373	)				(521	)			(178	)
Adjusted EBITDA (b)			33,855				25,092					274,243				237,274
Net cash interest expense (c)			(51,716	)			(42,583	)				(191,379	)			(166,474	)
Maintenance capital expenditures (d)			(5,177	)			(6,467	)				(21,950	)			(47,856	)
Cash paid for income taxes			(35	)			–					(324	)			(139	)
Proceeds from certain asset sales			700				835					3,862				4,023
Distributable cash flow attributable to equity investors (e)			(22,373	)			(23,123	)				64,452				26,828
Distributable cash flow attributable to general partner and non-controlling interest			575				462					(1,289	)			(537	)
Distributable cash flow attributable to common unitholders (f)			(21,798	)			(22,661	)				63,163				26,291
Less: Distributions paid to common unitholders			–				–					–				–
Distributable cash flow excess/(shortage)		$	(21,798	)		$	(22,661	)			$	63,163			$	26,291
Propane gallons sales
Retail – Sales to End Users			118,018				129,901					626,134				672,500
Wholesale – Sales to Resellers			49,590				50,039					235,080				233,645
Total propane gallons sales			167,608				179,940					861,214				906,145
(a) Amounts allocated to the general partner for its 1.0101% interest in the operating partnership, Ferrellgas, L.P.
(b) Adjusted EBITDA is calculated as net loss attributable to Ferrellgas Partners, L.P., less the sum of the following: income tax expense, interest expense, depreciation and amortization expense, non-cash employee stock ownership plan compensation charge, loss on asset sales and disposals, loss on extinguishment of debt, other income (expense), net, severance expense, legal fees and settlements related to non-core businesses, multi-employer pension plan withdrawal settlement, lease accounting standard adjustment and other and net loss attributable to noncontrolling interest. Management believes the presentation of this measure is relevant and useful, because it allows investors to view the partnership’s performance in a manner similar to the method management uses, adjusted for items management believes makes it easier to compare its results with other companies that have different financing and capital structures. This method of calculating Adjusted EBITDA may not be consistent with that of other companies and should be viewed in conjunction with measurements that are computed in accordance with GAAP.
(c) Net cash interest expense is the sum of interest expense less non-cash interest expense and other expense, net. This amount includes interest expense related to the accounts receivable securitization facility.
(d) Maintenance capital expenditures include capitalized expenditures for betterment and replacement of property, plant and equipment.
(e) Distributable cash flow attributable to equity investors is calculated as Adjusted EBITDA minus net cash interest expense, maintenance capital expenditures and cash paid for taxes plus proceeds from certain asset sales. Management considers distributable cash flow attributable to equity investors a meaningful measure of the partnership’s ability to declare and pay quarterly distributions to equity investors. Distributable cash flow attributable to equity investors, as management defines it, may not be comparable to distributable cash flow attributable to equity investors or similarly titled measurements used by other corporations and partnerships. Items added into our calculation of distributable cash flow attributable to equity investors that will not occur on a continuing basis may have associated cash payments. Distributable cash flow attributable to equity investors may not be consistent with that of other companies and should be viewed in conjunction with measurements that are computed in accordance with GAAP.
(f) Distributable cash flow attributable to common unitholders is calculated as Distributable cash flow attributable to equity investors minus distributable cash flow attributable to general partner and noncontrolling interest. Management considers distributable cash flow attributable to common unitholders a meaningful measure of the partnership’s ability to declare and pay quarterly distributions to common unitholders. Distributable cash flow attributable to common unitholders, as management defines it, may not be comparable to distributable cash flow attributable to common unitholders or similarly titled measurements used by other corporations and partnerships. Items added to our calculation of distributable cash flow attributable to common unit holders that will not occur on a continuing basis may have associated cash payments. Distributable cash flow attributable to common unitholders may not be consistent with that of other companies and should be viewed in conjunction with measurements that are computed in accordance with GAAP .