Market Newsdesk

BBTV to Present at The 13th Annual LD Micro Main Event Conference

Presentation: Monday, December 14th at 11:40am PST/2:40 PM EST.

VANCOUVER, British Columbia–(BUSINESS WIRE)–
Vancouver, B.C Thursday December 10th, 2020: BBTV Holdings Inc. (TSX: BBTV), a media tech company that uses technology enabled solutions to help content creators become more successful, today announced that it will be presenting at the 13th annual LD Micro Main Event investor conference on Monday, December 14th at 11:40am PST/2:40 PM EST.

Shahrzad Rafati, Chairperson and CEO, BBTV will be presenting to a live, virtual audience. Ms. Rafati will be discussing the company’s overarching strategy and growth plan.

The Main Event will feature a new and unique format, with companies presenting for 10 minutes, followed by 10 minutes of Q&A by a panel of investors and analysts.

For information on registration, please visit Register here: ve.mysequire.com/

View BBTV’s Investor page here: https://investors.bbtv.com/

Profiles powered by LD Micro

About BroadbandTV

BBTV is a media and technology company headquartered in Vancouver, Canada. The company’s mission is to democratize content by leveraging its proprietary technologies to drive viewership and monetization for content creators of all sizes. From individual content creators to global media companies, BBTV monetizes the media of content owners through end-to-end management, distribution and monetization solutions, powered by its innovative VISO Platform, including related proprietary technology, while allowing content owners to focus on their core competency – content creation. In August 2020, BBTV had the second most unique monthly viewers among digital platforms with 615 million globally, who consumed more than 55 billion minutes of video content, the most among media companies*. www.bbtv.com

*Calculations and classifications made by BBTV based on data from Comscore contained in Comscore’s “Top 12 Countries = August 2020 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report”

About LD Micro/SEQUIRE

LD Micro began in 2006 with the sole purpose of being an independent resource to the microcap world. What started as a newsletter highlighting unique companies, has transformed into the pre-eminent event platform in the space. For more information, please visit ldmicro.com.

The upcoming Main Event will be highlighting a new format that will benefit both executives and the investors tuning in from all over the globe.

In September 2020, LD Micro. Inc. was acquired by SRAX, Inc., a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit srax.com and mysequire.com.

BBTV-C

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005298/en/

Dan Gamble

Head of PR & Corporate Communications

[email protected]

+1778 873 0422

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Communications Technology Other Technology Audio/Video Telecommunications Other Communications

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PureTech Initiates Phase 2a trial of LYT-100 (Deupirfenidone) in Lymphedema

Study will further evaluate safety and tolerability of LYT-100 and explore clinical efficacy endpoints in patients with breast-cancer related, upper limb secondary lymphedema

Previously announced results from multiple ascending dose and food effect study in healthy volunteers demonstrated favorable tolerability and pharmacokinetic proof-of-concept for LYT-100

A separate Phase 2 study evaluating LYT-100 in Long COVID respiratory complications and related sequelae was recently initiated

Registration-enabling studies are also being planned for LYT-100 in idiopathic pulmonary fibrosis (IPF)

BOSTON–(BUSINESS WIRE)–PureTech Health plc (LSE: PRTC, Nasdaq: PRTC) (“PureTech” or the “Company”), a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, today announced the initiation of a Phase 2a proof-of-concept study of LYT-100 (deupirfenidone) in patients with breast cancer-related, upper limb secondary lymphedema, a chronic and progressive disorder for which there are no FDA-approved drug therapies. LYT-100 is PureTech’s wholly-owned product candidate that is being advanced for the potential treatment of conditions involving inflammation and fibrosis and disorders of lymphatic flow.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201210005171/en/

LYT-100 is a deuterated, oral small molecule designed to overcome the challenges associated with pirfenidone, an approved and marketed anti-inflammatory and anti-fibrotic drug. LYT-100, a new chemical entity, retains the pharmacology of pirfenidone but has a differentiated pharmacokinetic (PK) profile, which is designed to enable improved tolerability, less frequent dosing and potentially increased efficacy. PureTech recently completed a Phase 1 multiple ascending dose and food effect study of LYT-100 in healthy volunteers, which demonstrated a favorable tolerability and PK profile for LYT-100. LYT-100 has also been evaluated in preclinical lymphedema models, where it halted progression of lymphedema and reduced swelling volume.

“Lymphedema is a debilitating condition that affects approximately one million people in the U.S., and it is particularly prevalent in women recovering from breast cancer. It can restrict range of motion in the arms, cause significant pain and lead to disfiguring swelling and recurring infections,” said Babak J. Mehrara, M.D., chief, plastic and reconstructive surgical service at Memorial Sloan Kettering Cancer Center and an advisor to PureTech. “There are no approved drugs to address lymphedema and there’s little relief that can be offered to patients other than compression bandages, exercise and massage. We have a very real need for a therapeutic that could effectively treat this condition, which has been overlooked for far too long.”

The randomized, placebo-controlled, Phase 2a proof-of-concept study of LYT-100 is expected to enroll up to 50 patients with breast cancer-related, upper limb secondary lymphedema. The primary endpoints for this trial will be safety and tolerability, with secondary clinical efficacy and biomarker endpoints. The study is not powered to evaluate statistical significance compared to placebo, but PureTech expects to use data emerging from the trial to shape future clinical protocols, including selection of potential future efficacy study endpoints. Results from this proof-of-concept study are expected in the fourth quarter of 2021.

“Lymphedema is a condition that has drawn far too little attention from the healthcare industry. That oversight means there are, to date, no standardized clinical endpoints for the treatment of lymphedema,” said Michael Chen, Ph.D., head of innovation at PureTech. “This proof-of-concept study will be extremely valuable in helping us identify the most compelling clinical endpoints for future studies.”

About Lymphedema

Lymphedema is a chronic condition that afflicts approximately one million people in the United States and is characterized by severe swelling in parts of the body, typically the arms or legs, due to the build-up of lymph fluid and inflammation, fibrosis and adipose deposition. Secondary lymphedema is the most prevalent form of lymphedema, and it can develop after surgery, infection or trauma and is frequently caused by cancer or cancer treatments. A chronic and progressive disorder, lymphedema can cause loss of range of motion and function in the affected limb, disfigurement and pain. Inflammation and fibrosis play important roles in the pathophysiology of secondary lymphedema. Targeting fibrosis in addition to inflammation may be a potentially effective way of ameliorating lymphedema in patients. The current standard of care for lymphedema is management, primarily by compression and physical therapy to control swelling. There are no FDA-approved drug therapies to treat lymphedema.

About LYT-100

LYT-100 is PureTech’s most advanced wholly-owned product candidate. A deuterated form of pirfenidone, an approved anti-inflammatory and anti-fibrotic drug, LYT-100 is being advanced for the potential treatment of conditions involving inflammation and fibrosis and disorders of lymphatic flow, including lung dysfunction conditions (e.g., IPF, unclassifiable interstitial lung diseases (uILDs), Long COVID respiratory complications and related sequelae) and lymphedema. PureTech completed a Phase 1 multiple ascending dose and food effect trial evaluating LYT-100 in healthy volunteers and found it to be well-tolerated at all doses tested. PureTech is evaluating LYT-100 in a Phase 2 trial as a potential treatment for Long COVID respiratory complications and related sequelae as well as in a Phase 2a proof-of-concept study in patients with breast cancer-related, upper limb secondary lymphedema. PureTech is also advancing LYT-100 for the treatment of IPF and is planning registration-enabling studies.

About PureTech Health

PureTech is a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, including intractable cancers, lymphatic and gastrointestinal diseases, central nervous system disorders and inflammatory and immunological diseases, among others. The Company has created a broad and deep pipeline through the expertise of its experienced research and development team and its extensive network of scientists, clinicians and industry leaders. This pipeline, which is being advanced both internally and through PureTech’s Founded Entities, is comprised of 24 products and product candidates, including two that have received FDA clearance and European marketing authorization. All of the underlying programs and platforms that resulted in this pipeline of product candidates were initially identified or discovered and then advanced by the PureTech team through key validation points based on the Company’s unique insights into the biology of the brain, immune and gut, or BIG, systems and the interface between those systems, referred to as the BIG Axis.

For more information, visit www.puretechhealth.com or connect with us on Twitter @puretechh.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that are or may be forward-looking statements, including statements that relate to the Company’s future prospects, developments, and strategies. The forward looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, our expectations regarding the potential therapeutic benefits of LYT-100 in patients with breast cancer-related, upper limb secondary lymphedema, the expected timing of results from our Phase 2a proof-of-concept trial of LYT-100 and those risks and uncertainties described in the risk factors included in the regulatory filings for PureTech Health plc. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law and regulatory requirements, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005171/en/

Investors

Allison Mead Talbot

+1 617 651 3156

[email protected]

US media

Adam Silverstein

+1 917 697 9313

[email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health Clinical Trials

MEDIA:

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Lymphedema is a chronic condition that afflicts approximately one million people in the United States and is characterized by severe swelling in parts of the body, typically the arms or legs, due to the build-up of lymph fluid and inflammation, fibrosis and adipose deposition. Secondary lymphedema is the most prevalent form of lymphedema, and it can develop after surgery, infection or trauma and is frequently caused by cancer or cancer treatments. There are no FDA-approved drug therapies to treat lymphedema. PureTech today announced the initiation of a Phase 2a proof-of-concept study of LYT-100 (deupirfenidone), an anti-fibrotic and anti-inflammatory agent, in patients with breast cancer-related, upper limb secondary lymphedema. (Photo: Business Wire)

Desktop Metal Becomes the World’s Only Publicly Traded Pure-Play Additive Manufacturing 2.0 Company

Desktop Metal Completes Its Business Combination with Trine Acquisition Corp. as Trading Begins Today on the NYSE under the Ticker Symbol “DM”

• Desktop Metal and Trine Acquisition Corp. (NYSE: TRNE), a special purpose acquisition company, today announced they have completed their business combination; the combined company begins trading on the NYSE under the ticker symbol “DM” on December 10, 2020
• Desktop Metal is now the only publicly traded pure-play Additive Manufacturing 2.0 company, offering the fastest metal 3D printing technology in the market, up to 100 times the speed of legacy technologies⁽¹⁾
• The additive manufacturing industry is estimated to grow from $12 billion to $146 billion this decade as it shifts from prototyping to mass production⁽²⁾
• Leo Hindery, Jr., legendary technology investor and operator, joins Desktop Metal’s board

BURLINGTON, Mass.–(BUSINESS WIRE)–
Desktop Metal, Inc. (“Desktop Metal” or the “Company”) a leader in mass production and turnkey additive manufacturing solutions, and Trine Acquisition Corp. (NYSE: TRNE), (“Trine”) a special purpose acquisition company led by Leo Hindery, Jr. and HPS Investment Partners, a global credit investment firm with over $60 billion in assets under management, today announced the completion of their previously announced business combination. The resulting company is named Desktop Metal, Inc. and its common stock and warrants are expected to commence trading on the New York Stock Exchange under the new ticker symbol “DM” and “DM.WT” on December 10, 2020.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201210005148/en/

The transaction was unanimously approved by the board of directors of Trine and was also approved at a special meeting of Trine’s stockholders on December 8, 2020. As a result of this transaction, Desktop Metal has received approximately $580 million of gross proceeds from Trine’s trust account and concurrent equity private placements.

“Today is an exciting moment and major milestone for our company and for the additive manufacturing (AM) industry at large,” said Ric Fulop, Co-founder and Chief Executive Officer of Desktop Metal. “With a broad portfolio of solutions offering revolutionary ease-of-use and productivity for the AM industry, Desktop Metal is uniquely positioned to disrupt how parts are made across a wide range of industries. The capital raised through our transition to a publicly traded company will accelerate our global go-to-market efforts, enhance our relentless efforts in R&D, and allow us to capitalize on the tremendous growth opportunities we see over the next decade as we integrate industry-leading technology and intellectual property with strong secular growth trends around AM. We are excited to bring Desktop Metal to the public markets as the only pure play Additive Manufacturing 2.0 (AM 2.0) company and offer everyone the opportunity to invest in a company aiming to transform the manufacturing industry.”

Founded in 2015 with a vision to pioneer technology that changes the way parts are produced through AM, Desktop Metal has quickly grown to become a global enterprise offering a diverse suite of AM solutions. Led by an experienced team with deep operational and scientific pedigree, Desktop Metal has distribution in more than 60 countries around the world and adoption from leading companies spanning a broad array of industries, including automotive, consumer products, industrial automation, medical devices, aerospace and defense.

The Company’s product portfolio is anchored by its flagship Production System^TM P-50, which is scheduled to begin volume commercial shipments in the second half of 2021. The P-50 is designed to achieve print speeds up to 100 times those of legacy technologies⁽¹⁾, delivering thousands of parts per day at costs competitive with conventional manufacturing. The recently revealed Production System P-1 leverages the same patent-pending Single Pass Jetting^TM technology as the P-50 and begins initial shipments to customers in Q4 2020. Desktop Metal’s AM 2.0 portfolio also includes Shop System^TM, a mid-volume, flexible manufacturing solution designed for machine shops which began volume manufacturing and global shipments in Q4 2020; Studio System^TM, an office-friendly metal 3D printing system for low-volume production which has been shipping in volume globally since 2018; and Fiber^TM, a continuous fiber composite printer, scheduled to begin volume commercial shipments in Q4 2020.

The AM 2.0 Revolution and Its Impact to Industry 4.0

The AM industry grew at a 20 percent annual compound rate between 2006 and 2016 before accelerating to 25 percent compound annual growth over the last three years, a rate that is expected to continue over the next decade as the market grows from $12 billion in 2019 to an estimated $146 billion in 2030⁽²⁾.

“We believe the AM industry is at a major inflection point and that Desktop Metal is at the forefront of this transformation,” said Fulop. “This market inflection is being driven by the emergence of AM 2.0 a wave of next-generation AM technologies that unlocks throughput, repeatability, and competitive part costs with a focus on making AM an easy to use, economic solution for mass production. These solutions feature key innovations across printers, materials, and software to pull AM into direct competition with conventional processes used to manufacture $12 trillion in goods annually⁽³⁾.”

“Desktop Metal is poised to revolutionize the manufacturing industry by applying transformative AM 2.0 technologies to the products and industries that will drive the economy in the 21st century,” said Leo Hindery, Jr., Desktop Metal board member and Chairman and CEO of Trine Acquisition Corp. “The company has a distinct first-mover advantage over competitors and the injection of capital from this transaction, a large portion of which will be dedicated to continuous product innovation, will protect and extend this first-mover advantage.”

About the Transaction

Credit Suisse Securities LLC and Stifel Financial Corp. are serving as capital markets advisors to Desktop Metal, and Credit Suisse as sole private placement agent to Trine. BTIG, LLC is serving as financial and capital markets advisor to Trine. Latham & Watkins LLP is serving as legal advisor to Desktop Metal, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Trine. ICR is serving as investor relations and communications advisor to Desktop Metal.

About Desktop Metal

Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies.

For more information, visit www.desktopmetal.com.

Forward Looking Statements

This document contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statement generally relate to the Company’s future financial or operating performance, such as statements regarding the expected benefits of the business combination and the transaction related thereto (the “Transactions”), the services offered by Desktop Metal and the markets in which it operates, and Desktop Metal’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks, uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the ability to maintain the listing of the Company’s securities on the New York Stock Exchange, (ii) the risk that the Transactions disrupt current plans and operations of the Company as a result of the announcement and consummation of the Transactions; (iii) the ability to recognize the anticipated benefits of the Transactions, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (iv) costs related to the Transactions; (v) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors, including downturns in the highly competitive additive manufacturing industry; (vi) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities; and (vii) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Forward-Looking Statements; Market, Ranking and Other Industry Data” in the registration statement on Form S-4 initially filed by Trine with the SEC on September 15, 2020, as amended, and the Trine’s and the Company’s other filings with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations.

(1) Based on published speeds of binder jetting and laser powder bed fusion systems comparable to the Production System™ available as of August 25, 2020 and using comparable materials and processing parameters.

(2) Wohlers Report 2020 (2020 – 2029 forecast); 2030 figure based on management calculations.

(3) 3D Printing: Disrupting the $12 Trillion Manufacturing Sector, A.T. Kearney, Inc. (2017).

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005148/en/

For Desktop Metal Investor / Media Relations

Lynda McKinney

[email protected]

Investor Relations

Mike Callahan / Tom Cook

[email protected]

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Technology Nanotechnology Engineering Automotive Manufacturing Aerospace Manufacturing Finance Professional Services Other Technology Software Hardware Other Manufacturing Electronic Design Automation Steel

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The Desktop Metal Shop System™, the world’s first metal binder jetting system designed for machine shops, is being manufactured in volume and shipped to customers around the world. (Photo: Business Wire)

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Desktop Metal’s high-quality binder jetting technology offers reliable production of serial batches of complex, end-use metal parts in a fraction of the time and cost of conventional manufacturing. (Photo: Business Wire)

KalVista Pharmaceuticals Reports Second Fiscal Quarter Results

– KVD900 Phase 2 Clinical Trial Patient Treatment Completed; Data Expected Q1 2021 –

CAMBRIDGE, Mass. & SALISBURY, England–(BUSINESS WIRE)–
KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of small molecule protease inhibitors, today provided an operational update and released financial results for the second fiscal quarter ended October 31, 2020.

“We have completed the patient treatment phase of our KVD900 Phase 2 trial and are in the process of wrapping up that study. Data from this trial evaluating KVD900 as an oral on-demand treatment for hereditary angioedema is expected in the first quarter of 2021,” said Andrew Crockett, Chief Executive Officer of KalVista. “The formulation data recently shared for KVD824, our oral prophylactic treatment candidate for HAE, showed concentrations that we believe can lead to efficacy levels competitive with approved injectable therapies. We expect to submit an Investigational New Drug Application to the FDA for a Phase 2 clinical trial of KVD824 as a potential twice-daily oral treatment in the prevention of HAE attacks in the first quarter of 2021.”

Second Fiscal Quarter and Recent Business Highlights:

• Completed treatment of the planned target of 50 patients in a Phase 2 clinical trial intended to evaluate the safety and efficacy of KVD900 as an oral on-demand treatment of hereditary angioedema (HAE) attacks. This trial is expected to provide data in the first quarter of 2021. A Pediatric Investigational Plan (PIP) has also been approved by the European Medicines Agency (EMA) for KVD900.
• Provided data on KVD824 as a twice-daily oral candidate for prophylactic treatment of HAE. Work to optimize the exposure profile of KVD824 yielded a formulation that maintains the plasma concentrations KalVista believes are required to compete with approved injectable therapies, while showing an encouraging safety and tolerability profile in up to 14 days of dosing. An Investigational New Drug Application (IND) submission to the U.S. Food and Drug Administration (FDA) for a Phase 2 clinical trial is expected in the first quarter of 2021.
• Announced a novel oral Factor XIIa inhibitor program as the next area of development focus. KalVista’s internal research team has discovered multiple series of oral Factor XIIa inhibitors, initially being advanced with the potential to provide the next generation of HAE therapeutics. IND-enabling studies for potential oral Factor XIIa inhibitor candidates are expected in 2021.

Second Fiscal Quarter Financial Results:

• Revenue: No revenue was recognized for the three months ended October 31, 2020, compared to $3.9 million for the same period in the prior fiscal year. The decrease of $3.9 million was due to the expiration of the Merck Option Agreement in February 2020. No future revenue remains to be recognized under this agreement.
• R&D Expenses: Research and development expenses were $9.1 million for the three months ended October 31, 2020, compared to $9.8 million for the same period in the prior fiscal year. The decrease in expenses during the quarter primarily reflects a decrease in spending on KVD001, which concluded a Phase 2 clinical trial in December 2019, a decrease in spending on KVD900, and a decrease in spending on preclinical activities. These decreases were somewhat offset by increased spending related to the development of KVD824.
• G&A Expenses: General and administrative expenses were $3.6 million for the three months ended October 31, 2020, compared to $3.4 million for the same period in the prior fiscal year. The $0.2 million increase in expenses reflects an increase in employee related expenses.
• Net Loss: Net loss was $10.4 million, or $(0.58) per weighted average basic and diluted share, for the three months ended October 31, 2020, compared to net loss of $5.9 million, or $(0.33) per weighted average basic and diluted share, for the same period in the prior fiscal year. The increase in net loss and net loss per share in the three months ended October 31, 2020 compared to the same period in the prior fiscal year was primarily due to the decrease in revenue in the three months ended October 31, 2020.
• Cash: Cash, cash equivalents and marketable securities were $55.9 million as of October 31, 2020, compared to $67.7 million as of April 30, 2020. The decrease in net cash position was due to increased spending, primarily on research and development activities.

About KalVista Pharmaceuticals, Inc.

KalVista Pharmaceuticals, Inc. is a pharmaceutical company focused on the discovery, development, and commercialization of small molecule protease inhibitors for diseases with significant unmet need. KalVista has developed a proprietary portfolio of novel, small molecule plasma kallikrein inhibitors initially targeting hereditary angioedema (HAE) and diabetic macular edema (DME). KalVista is developing KVD900 as an on-demand therapy for acute HAE attacks and is conducting a Phase 2 proof-of-concept study in HAE patients with data expected in the first quarter of 2021. KVD824 is in development for prophylactic treatment of HAE with an expected IND filing for a phase 2 clinical trial in the first quarter of 2021. KalVista’s recently announced oral Factor XIIa inhibitor program represents a new generation of therapies that may further improve the treatment of HAE for patients. In DME, an intravitreally administered plasma kallikrein inhibitor known as KVD001, completed a Phase 2 clinical trial in 2019.

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

Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. These statements are subject to numerous risks and uncertainties, including the potential impact of COVID-19, that could cause actual results to differ materially from what we expect. Examples of forward-looking statements include, among others, our expectations about safety and efficacy of our product candidates and timing of clinical trials and its results, our ability to commence or complete clinical studies and to obtain regulatory approvals for KVD900, KVD824 and other candidates in development, the ability of KVD900, KVD824 and other candidates in development to treat HAE or DME, the future progress and potential success of our oral Factor XIIa program, and the sufficiency of our cash, cash equivalents and investments to fund our operations. Further information on potential risk factors that could affect our business and financial results are detailed in our annual report on Form 10-K filed on July 1, 2020, our quarterly reports on Form 10-Q, and other filings we may make from time to time with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

KalVista Pharmaceuticals Inc.
Condensed Consolidated Balance Sheets
(in thousands, except share and per share amounts)
(Unaudited)
	October 31,				April 30,
	2020				2020
Assets
Current assets:
Cash and cash equivalents	$	16,174			$	15,789
Marketable securities		39,700				51,925
Research and development tax credit receivable		14,685				16,527
Prepaid expenses and other current assets		1,517				4,455
Total current assets		72,076				88,696
Property and equipment, net		1,889				2,043
Right of use assets		1,305				1,612
Other assets		178				178
Total assets	$	75,448			$	92,529
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	2,173			$	1,677
Accrued expenses		6,941				5,455
Lease liability – current portion		422				588
Total current liabilities		9,536				7,720
Long-term liabilities:
Lease liability – net of current portion		932				1,057
Total long-term liabilities		932				1,057
Stockholders’ equity:
Common stock, $0.001 par value		18				18
Additional paid-in capital		209,750				207,208
Accumulated deficit		(142,832	)			(121,592	)
Accumulated other comprehensive loss		(1,956	)			(1,882	)
Total stockholders’ equity		64,980				83,752
Total liabilities and stockholders’ equity	$	75,448			$	92,529

KalVista Pharmaceuticals Inc.
Condensed Consolidated Statement of Operations
(in thousands, except share and per share amounts)
(Unaudited)
	Three Months Ended								Six Months Ended
	October 31,								October 31,
	2020				2019				2020				2019
Revenue	$	—			$	3,920			$	—			$	7,289
Operating expenses:
Research and development		9,148				9,789				20,313				19,476
General and administrative		3,633				3,420				6,912				6,665
Total operating expenses		12,781				13,209				27,225				26,141
Operating loss		(12,781	)			(9,289	)			(27,225	)			(18,852	)
Other income:
Interest income		193				505				451				1,095
Foreign currency exchange rate gain (loss)		(24	)			560				414				108
Other income		2,186				2,321				5,119				4,408
Total other income		2,355				3,386				5,984				5,611
Net loss	$	(10,426	)		$	(5,903	)		$	(21,241	)		$	(13,241	)
Net loss per share, basic and diluted	$	(0.58	)		$	(0.33	)		$	(1.19	)		$	(0.75	)
Weighted average common shares outstanding, basic and diluted		17,907,393				17,823,302				17,877,988				17,656,150

KalVista Pharmaceuticals Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands, unaudited)
	Six Months Ended
	October 31,
	2020				2019
Cash flows from operating activities
Net loss	$	(21,241	)		$	(13,241	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		261				248
Stock-based compensation expense		2,436				2,236
Realized gain from sale of marketable securities		(116	)			(129	)
Non-cash operating lease expense		17				2
Amortization of premium on marketable securities		137				79
Foreign currency exchange (gain) loss		(168	)			(81	)
Changes in operating assets and liabilities:
Research and development tax credit receivable		2,322				(577	)
Prepaid expenses and other current assets		3,031				785
Accounts payable		446				(558	)
Accrued expenses		1,335				(564	)
Deferred revenue		—				(7,289	)
Net cash used in operating activities		(11,540	)			(19,089	)
Cash flows from investing activities
Purchases of marketable securities		(19,342	)			(42,561	)
Sales and maturities of marketable securities		31,261				39,729
Acquisition of property and equipment		(35	)			(212	)
Net cash provided by (used in) investing activities		11,884				(3,044	)
Cash flows from financing activities
Issuance of common stock, net of offering expenses		—				11,422
Issuance of common stock from equity incentive plans		106				170
Finance lease principal payments		—				(54	)
Net cash provided by financing activities		106				11,538
Effect of exchange rate changes on cash and cash equivalents		(65	)			308
Net increase (decrease) in cash and cash equivalents		385				(10,287	)
Cash and cash equivalents at beginning of period		15,789				32,006
Cash and cash equivalents at end of period	$	16,174			$	21,719

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005095/en/

KalVista Pharmaceuticals, Inc.

Leah Monteiro

Senior Director, Corporate Communications & Investor Relations

857-999-0808

[email protected]

KEYWORDS: Massachusetts Europe United States United Kingdom North America

INDUSTRY KEYWORDS: Research Diabetes Clinical Trials Cardiology Biotechnology Health Pharmaceutical Optical Science

MEDIA:

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Magellan Aerospace Delivers 200^th Horizontal Stabilizer Shipset for Global F-35 Aircraft Program

TORONTO–(BUSINESS WIRE)–
Magellan Aerospace Corporation (“Magellan”) announced today the delivery of the 200^th set of F-35 Lightning II horizontal stabilizer assemblies under an agreement with BAE Systems. Magellan and BAE Systems have been working together to produce horizontal stabilizers for the global F-35 program since 2009. Both companies have since made significant investment in facilities, technologies and training to ensure the successful delivery of these flight-critical assemblies to the F-35 prime contractor Lockheed Martin.

“Achieving this significant delivery milestone in today’s unprecedented and challenging business environment speaks to the reliability of our processes and the resiliency of the Magellan team,” said Mr. Phillip Underwood, Magellan’s President and CEO. “Magellan has been steadily increasing its annual deliveries for the global F-35 program since the first horizontal stabilizer shipset delivery in 2012 and is currently operating at full production rate.”

Tom Fillingham, Senior Vice President, US Programmes, BAE Systems Air said, “At BAE Systems, we’re proud to collaborate with Magellan and international suppliers to fulfil our role on such a critical programme which global air forces depend on. Magellan’s delivery of its 200^th set of F-35 horizontal stabilizer assemblies is a significant milestone and is testament to the dedication and teamwork from all involved.”

The horizontal stabilizers produced at Magellan are major assemblies on the Conventional Takeoff and Landing (CTOL) variant of the F-35. Magellan is targeting to produce more than 1,000 ship sets of horizontal tail assemblies over the life of the F-35 program along with various other metallic and composite components for the program.

About Magellan Aerospace Corporation

Magellan Aerospace Corporation is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe, and India.

Forward Looking Statements

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. When used herein, words such as “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “intend”, “believe”, and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by the Corporation in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Corporation believes are appropriate in the circumstances. Many factors could cause the Corporation’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including those described in the “Risk Factors” section of the Corporation’s Annual Information Form (copies of which filings may be obtained at www.sedar.com). These factors should be considered carefully, and readers should not place undue reliance on the Corporation’s forward-looking statements. The Corporation has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005066/en/

Laura Podaima

Director, Corporate Communications

Magellan Aerospace

Ph. +1 204 228 3719

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Engineering Defense Air Aerospace Transport Manufacturing Contracts

MEDIA:

Posted on December 10, 2020 7:03 am

New Relic Signs Definitive Agreement to Acquire Pixie Labs, a Next Generation Machine Intelligence Observability Solution for Developers Using Kubernetes

New Relic Signs Definitive Agreement to Acquire Pixie Labs, a Next Generation Machine Intelligence Observability Solution for Developers Using Kubernetes

Pixie Labs to expand New Relic’s opportunity in the rapidly growing Kubernetes market

SAN FRANCISCO–(BUSINESS WIRE)–
Today, New Relic, Inc. (NYSE: NEWR), a leader in observability, announced it has signed a definitive agreement to acquire Pixie Labs, a next generation machine intelligence observability solution for developers using Kubernetes. Pixie dramatically simplifies the process of troubleshooting and live debugging applications in Kubernetes environments by providing instant access to telemetry data without the need to manually add instrumentation to the code. The anticipated addition of Pixie will expand New Relic’s opportunity to serve the rapidly growing Kubernetes market, and drive the acceleration of observability across organizations of every size.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201210005294/en/

Modern developers are adopting Kubernetes as the de facto standard for managing containerized workloads on premises and in the cloud. The Cloud Native Computing Foundation recently reported that 83% of survey respondents use Kubernetes in production, up from 58% in 2018¹. Yet, software engineering teams consistently struggle to troubleshoot, debug, and gain visibility into applications running in Kubernetes clusters.

Pixie Labs’ technology significantly simplifies observability for Kubernetes environments. With Pixie, telemetry data runs entirely inside Kubernetes at the edge. This first-of-its-kind approach provides telemetry to developers with lower overhead, latency, and costs. New Relic plans to integrate the best of Pixie use cases with New Relic One, where customers will gain access to powerful features, including advanced correlation and alerting with Applied Intelligence, advanced visualization and analytics with Full Stack Observability, and extended data retention and compliance through Telemetry Data Platform. Pixie’s technology will complement New Relic’s powerful Kubernetes observability features in New Relic One available today, including the Kubernetes Cluster Explorer.

More than 300 engineering teams are using the Pixie beta today at companies ranging from startups to enterprises running internet-scale Kubernetes clusters.

Comments on the news:

“At New Relic, we believe that every developer in the world should have observability as part of their toolkit, so they can easily visualize and troubleshoot their entire software stack,” said New Relic CEO and Founder Lew Cirne. “As Kubernetes rapidly becomes the default environment for deploying and managing software in the cloud, we’re doubling down on our Kubernetes strategy with the acquisition of Pixie Labs. Our goal is to make Pixie and New Relic One ubiquitous to the millions of developers responsible for building and deploying applications in Kubernetes environments.”

“We founded Pixie Labs to build a magical developer experience that redefines how developers explore, monitor, secure, and manage their applications. And the team at New Relic shares our developer-first approach,” said Zain Asgar, Co-founder/CEO of Pixie Labs and an Adjunct Professor of Computer Science at Stanford University. “Joining forces with New Relic will enable us to scale the Pixie platform faster and accelerate our ability to deliver on that vision for developers.”

“Pixie is the first telemetry tool I’ve used that provides operational telemetry out of the box with zero changes to application code. With a simple command-line deploy, I can see data and troubleshoot my Kubernetes apps in minutes,” said Roopak Venkatakrishnan, staff software engineer at Bolt, a fintech company. “This is a game changer for the observability industry and I’m excited they’ll continue to bring this technology to market as part of the New Relic family.”

“Kubernetes is rapidly becoming our standard environment for deploying all new workloads, and Pixie’s technology allows us to instantly troubleshoot, debug, and see the performance of these applications,” said Darshan Desai, founder and CEO of Plan, a productivity software company. “Pixie has been transformational for our development team. Nothing else in the market today has allowed us to drastically simplify and unlock the full potential of Kubernetes like Pixie.”

Additional Resources:

• Read blog post from New Relic CEO and Founder Lew Cirne here.
• Read blog post from Pixie Labs founders here.
• Read the Pixie Labs launch press release here.
• Watch the Pixie Labs founders discuss the launch of Pixie Community here.
• Watch Pixie Labs Advisor Kelsey Hightower demo at Pixie Demo Day here.

About New Relic

The world’s best engineering teams rely on New Relic to visualize, analyze, and troubleshoot their software. New Relic One is the most powerful cloud-based observability platform built to help organizations create more perfect software. Learn why developers trust New Relic for improved uptime and performance, greater scale and efficiency, and accelerated time to market at newrelic.com.

Forward-looking statements

This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to the addition of Pixie Labs and the benefits of this anticipated acquisition on New Relic’s opportunity to serve the growing Kubernetes market, potential features customers can gain upon future ingestion of telemetry data from Pixie into New Relic, expectations as to the increase in empowerment to developers as a result of this combination, the anticipated timing and completion of the deal, as well as any additional benefits of the future purchase and integration of Pixie by and into New Relic. The achievement or success of the matters covered by such forward-looking statements are based on New Relic’s current assumptions, expectations, and beliefs and are subject to substantial risks, uncertainties, assumptions, and changes in circumstances that may cause New Relic’s actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement. Further information on factors that could affect New Relic’s financial and other results and the forward-looking statements in this press release is included in the filings New Relic makes with the SEC from time to time, including in New Relic’s most recent Form 10-Q, particularly under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Copies of these documents may be obtained by visiting New Relic’s Investor Relations website at http://ir.newrelic.com or the SEC’s website at www.sec.gov. New Relic assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

¹CF SURVEY 2020, https://www.cncf.io/wp-content/uploads/2020/11/CNCF_Survey_Report_2020.pdf

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005294/en/

Media Contact

Andrew Schmitt

New Relic, Inc.

415-869-7109

[email protected]

Investor Contact

Peter Goldmacher

New Relic, Inc.

503-336-9280

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Software Technology Internet Data Management

MEDIA:

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Carvana Launches The New Way to Buy a Car® in Hot Springs

Online Auto Retailer Expands As-Soon-As-Next-Day Vehicle Delivery in Arkansas

HOT SPRINGS, Ark.–(BUSINESS WIRE)–Carvana (NYSE: CVNA), a leading e-commerce platform for buying and selling used cars, now offers as-soon-as next-day vehicle delivery to Hot Springs area residents. In as little as 5 minutes, from the comfort of home or on the go via mobile device, customers can shop more than 20,000 vehicles on Carvana.com, finance, purchase, sell or trade their current vehicle to Carvana and schedule as-soon-as-next-day delivery.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201210005020/en/

Carvana customers shop online, so they can skip the dealership while saving valuable time and money with The New Way to Buy a Car®. All 20,000+ vehicles in Carvana’s national inventory are photographed in 360 degrees, so customers get a high-definition virtual tour. And Carvana never charges hidden, bogus fees like “documentation fees,” which can often be added to the price of a vehicle at the last minute.

All Carvana vehicles come with a 7-day return policy, giving customers the peace of mind and time to ensure it fits their life. Whether it’s parking the car in your home garage comfortably or seeing how much cargo room it offers for your next trip to Hot Springs National Park, it’s an upgrade to the traditional test drive.

Customers looking to trade in their vehicle, or sell a vehicle, can also skip the dealership by simply entering their VIN or license plate number on Carvana.com, answer a few questions and Carvana can pick up the vehicle and bring them a check, as soon as the next day.

Carvana vehicles are Carvana Certified, having passed a rigorous 150-point inspection, have never been in a reported accident and have no frame damage. Features, imperfections and updated information about open safety recalls are listed on every car’s vehicle description page.

“As we expand our footprint in the southern U.S., we’re pleased to offer our easy, transparent, customer-centric approach to car buying to more and more customers,” said Ernie Garcia, founder and CEO of Carvana. “We look forward to Hot Springs area residents enjoying The New Way to Buy a Car™.”

Carvana now offers as-soon-as-next-day vehicle delivery in 265 markets across the U.S.

About Carvana (NYSE: CVNA)

Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA) mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online car buying and financing platform. Carvana.com enables consumers to quickly and easily shop more than 20,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of Carvana’s patented, automated Car Vending Machines.

For further information on Carvana, please visit www.carvana.com, or connect with us on Facebook, Instagram or Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005020/en/

Carvana

Amy O’Hara

[email protected]

KEYWORDS: Arkansas Arizona United States North America

INDUSTRY KEYWORDS: Other Consumer Technology Aftermarket Automotive General Automotive Internet Consumer Retail Online Retail

MEDIA:

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Carvana expands presence in Arkansas offering as-soon-as-next day vehicle delivery to Hot Springs area residents. (Photo: Business Wire)

Pebblebrook Hotel Trust Launches Public Offering of Convertible Senior Notes Due 2026

BETHESDA, Md.–(BUSINESS WIRE)–
Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it has launched an underwritten public offering of $350,000,000 aggregate principal amount of its Convertible Senior Notes due 2026 (the “Notes”). The Company expects to grant the underwriters a 13-day option to purchase up to an additional $52.5 million aggregate principal amount of the Notes solely to cover over-allotments, if any.

Prior to June 15, 2026, the Notes will be convertible only upon certain circumstances and during certain periods, and thereafter will be convertible at any time prior to the close of business on the second scheduled trading day prior to maturity of the Notes. Upon conversion, holders will receive cash, common shares of the Company, (the “Common Shares”) or a combination thereof at the Company’s election. The Notes will be issued under the Company’s currently effective shelf registration statement filed with the Securities and Exchange Commission. The interest rate, conversion rate and other terms of the Notes will be determined at the time of pricing of the offering. The Notes will be the Company’s senior unsecured obligations and will rank equally with all of its present and future senior unsecured debt and senior to any future subordinated debt.

BofA Securities and Raymond James are the joint book-running managers of the offering.

In connection with the pricing of the Notes, the Company expects to enter into one or more privately negotiated capped call transactions with one or more of the underwriters or their respective affiliates or other financial institutions (the “Option Counterparties”). The capped call transactions will cover, subject to customary adjustments, the number of Common Shares underlying the Notes. The capped call transactions are generally expected to reduce the potential dilution to Common Shares upon any conversion of the Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of such converted Notes, as the case may be, with such reduction and/or offset subject to a cap.

In connection with establishing their initial hedges of the capped call transactions, the Option Counterparties or their respective affiliates expect to purchase Common Shares and/or enter into various derivative transactions with respect to Common Shares concurrently with or shortly after the pricing of the Notes. This activity could increase (or reduce the size of any decrease in) the market price of Common Shares or the Notes at that time.

In addition, the Option Counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Common Shares and/or purchasing or selling Common Shares or other securities of the Company in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and are likely to do so following any conversion, repurchase, or redemption of the Notes, to the extent the Company exercises the relevant election under the capped call transactions). This activity could also cause or avoid an increase or a decrease in the market price of Common Shares or the Notes, which could affect the ability of holders to convert the Notes. To the extent the activity occurs during any observation period related to a conversion of the Notes, it could also affect the number of Common Shares and value of the consideration that holders will receive upon conversion of the Notes.

The Company intends to use a portion of the net proceeds from the offering of the Notes to pay the cost of the capped call transactions. If the underwriters exercise their option to purchase additional Notes, the Company expects to use a portion of the net proceeds from the sale of such additional Notes to enter into additional capped call transactions. The Company will contribute the remainder of the net proceeds to its operating partnership. The operating partnership will use the net proceeds to reduce amounts outstanding under the Company’s senior unsecured revolving credit facility and unsecured term loans.

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

Copies of the preliminary prospectus supplement and base prospectus relating to the Notes may be obtained by contacting BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attention: Prospectus Department, email: [email protected] and Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, email: [email protected], telephone: 1-800-248-8863.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and a leading owner of urban and resort lifestyle hotels in the United States. The Company owns 53 hotels, totaling approximately 13,200 guest rooms across 14 urban and resort markets with a focus on the west coast gateway cities.

This press release contains certain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Company’s expectations, but these statements are not guaranteed to occur. For example, the fact that the offering has launched may imply that the offering will price, but pricing is subject to conditions customary in transactions of this type and may be delayed or may not occur at all. In addition, the fact that the underwriters have an over-allotment option may imply that this option will be exercised. However, the underwriters are not under any obligation to exercise this option, or any portion of it, and may not do so. Investors should not place undue reliance upon forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005471/en/

Raymond D. Martz, Chief Financial Officer, Pebblebrook Hotel Trust – (240) 507-1330

KEYWORDS: United States North America Maryland

INDUSTRY KEYWORDS: Entertainment Other Entertainment Other Travel Vacation Lodging Destinations Travel

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