JOYY INVESTOR FRAUD: Hagens Berman, National Trial Attorneys, Encourages JOYY Inc. (YY) Investors with $250k+ Losses to Contact Its Attorneys Now, Securities Fraud Case Filed

SAN FRANCISCO, Nov. 30, 2020 (GLOBE NEWSWIRE) — Hagens Berman urges JOYY Inc. (NASDAQ: YY) investors with losses in excess of $250,000 to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims.

Class
Period: Apr. 28, 2016 – Nov. 18, 2020
Lead Plaintiff Deadline: Jan. 19, 2021
Visit:hbsslaw.com/investor-fraud/JOYY
Contact An Attorney Now:[email protected] | 844-9160895

JOYY Inc.
(
YY
)
Securities
Fraud Class Action
:

The complaint alleges that Defendants misrepresented and concealed that: (1) JOYY had dramatically overstated its revenues from live streaming sources; (2) the majority of users at any given time were bots; (3) the Company utilized these bots to effect a round-tripping scheme that manufactured the false appearance of revenues; (4) the Company overstated its cash reserves; and (5) the Company’s recent acquisition of Bigo was largely contrived to benefit corporate insiders, including JOYY’s co-founder, CEO, and Chairman David Xueling Li, who set up Bigo.

Investors began to learn the truth, according to the complaint, on Nov. 18, 2020 when research firm Muddy Waters Capital published a scathing forensic report, “YY: You Can’t Make This Stuff Up. Well…Actually You Can.” Muddy Waters accused JOYY of (1) being a multibillion-dollar fraud, (2) massively overstating reported revenues by engaging in improper round-tripping transactions, and (3) massively overstating Bigo-related revenues and Bigo’s valuation to secretly enrich Li when JOYY, in March 2019, paid over $1.4 billion for the remaining 68.5% of Bigo that JOYY did not already own.

This news sent the price of JOYY American Depositary Shares crashing lower on Nov. 18, 2020.

“We’re focused on investors’ losses and proving JOYY deceived investors about the Company’s true operations and financial results,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are a JOYY investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding JOYY should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 8449160895 or email [email protected].


About Hagens Berman


Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact
:

Reed Kathrein, 844-916-0895



Teamsters Canada Statement on Federal Economic Update

LAVAL, Quebec, Nov. 30, 2020 (GLOBE NEWSWIRE) — The national president of Teamsters Canada, François Laporte, made the following comments regarding today’s federal economic update:

“Faced with an unprecedented crisis, Teamsters Canada is pleased to see the government continue to take unprecedented measures. Today’s deficit numbers show that Ottawa is dead serious about supporting working-class and middle-class Canadians through this terrible crisis. The COVID-19 pandemic is sadly far from over and, over the coming months, continued government spending will be the only thing keeping millions of honest, hard-working families from total ruin.

“We welcome news of support for the air travel, tourism and hospitality sectors, which have been hit hard by border closures. It will be crucial that funding be tied to preserving jobs, and that businesses which supply airlines and airports also be eligible for support. These include companies that refuel airplanes, provide in-flight catering, manage baggage and staff airport security lines, to name a few.

“We especially welcome news of investments in long-term care homes to help stop the spread of infections. Tens of thousands of caregivers have been putting themselves at risk in these homes since the beginning of the pandemic in the both the public and private sectors. When it comes to protecting these heroes, more is never enough. We urge provinces to put these funds to use as expeditiously as possible.

“Our union once again reiterates its support for national care standards for long-term care, so that vulnerable seniors are guaranteed decent services. This is not the time to be bickering over jurisdictional questions – we owe our seniors so much more.”

Teamsters represent close to 125,000 workers across Canada. The International Brotherhood of Teamsters, with which Teamsters Canada is affiliated, has 1.4 million members in North America. Visit

teamsters.ca

for more information. Follow us on Twitter

@TeamstersCanada

and “like” us on Facebook at

facebook.com/


TeamstersCanada

.

Media requests:

Christopher Monette
Director of Public Affairs
Teamsters Canada
Cell: 514-226-6002
[email protected]



Kiromic BioPharma Reports Third Quarter 2020 Financial Results and Continued Corporate Progress

Kiromic BioPharma Reports Third Quarter 2020 Financial Results and Continued Corporate Progress

Provisional patent filing titled, “Mesothelin Isoform Binding Molecules and Uses Thereof”

Completed external validation of clinical samples of key Isoform Mesothelin targets

Completed Construction of Vivarium and Clean Room Facilities at the Houston Offices

HOUSTON–(BUSINESS WIRE)–Kiromic BioPharma (“the Company”) (NASDAQ: KRBP), a pre-clinical stage biotechnology company using its proprietary DIAMOND® artificial intelligence (“A.I.”) platform to improve drug discovery and development with a therapeutic focus on immune-oncology, today announced its financial results for the third quarter ended September 30, 2020, and provided an update on its corporate developments.

“Kiromic BioPharma achieved important scientific and operational milestones during the quarter that have us well positioned for growth as we focus on being the leader in A.I.-enabled immune-oncology drug development,” said Dr. Maurizio Chiriva-Internati, CEO and President of Kiromic BioPharma. “We are thankful to our employees and collaborators who have maintained this high level of execution in the middle of the hard challenges posed by the COVID-19 pandemic. Through their efforts, as of today nothing has come to our attention causing us to believe that we are not poised to file our two INDs for Epithelial Ovarian Cancer during 4Q-2020. The first IND will be our chimeric PD1 for ovarian cancer, and the second IND will be our isoform mesothelin in ovarian cancer.”

Subsequent to the quarter end, on October 20, 2020, we completed a successful IPO, raising gross proceeds of $15,000,000, significantly strengthening the Company’s balance sheet to support the continued development of our promising pipeline of targeted cancer therapies. Our approach and goal is to defeat cancer by developing immunotherapies that rely on improving target discovery and validation. With better targets, we believe our therapies will be more effective than the current crop of immunotherapies using older targets.

Corporate and Scientific Highlights

  • Intellectual Property Application Filing – Kiromic BioPharma (“The Company”) filed a United States provisional patent application on July 6, 2020, entitled “Mesothelin Isoform Binding Molecules and Uses Thereof,” that discloses engineered gamma-delta T cells containing mesothelin isoform-directed molecules. This provisional application is expected to expire on July 7, 2021, and the Company plans to file at least an international PCT patent application claiming priority to the provisional application before it expires. The Company plans to build at least one patent family directed to engineered allogeneic effector cells, in support of its development of off-the-shelf allogeneic immunotherapy treatments to patients with indications of Isoform Mesothelin Epithelial Ovarian Cancer, and Isoform Mesothelin Malignant Pleural Mesothelioma.
  • External Validation of Targets – The Company completed external validation of Isoform Mesothelin targets including mesothelioma, ovarian cancer, and pancreatic cancer during the 3 months ended September 30, 2020.
  • Clean Rooms and Vivarium Facility Construction Completion – The Company completed construction of an $820,000 leasehold improvement located at the Houston, TX based offices. The asset contains a current Good Lab Practices (“cGLP”) Vivarium Facility, and current Good Manufacturing Practices (“cGMP”) Clean Rooms for clinical manufacturing. The cGLP Vivariumis currently being used to perform key in vivo non-clinical research to support the Company’s clinical initiatives through an Initial New Drug (“IND”) filing with the FDA. The cGMP suite consists of 5 clean rooms which will be used to manufacture the Company’s off-the-shelf allogeneic therapies during clinical trials. Management plans to commence clinical trials only if IND applications are approved by the FDA.

Q3 2020 Financial Highlights

Cash Position: Cash and cash equivalents were $469,300 as of September 30, 2020, compared to $1,929,100 as of December 31, 2019. The decrease was primarily due to cash outflows of $3,557,200 and $1,013,100 attributable to operating activities and investing activities, respectively. The offsetting cash inflows of $3,110,500 was attributed to financing activities related to the Company’s Series B Preferred Stock issuance along with proceeds net of repayments from the Paycheck Protection Program loan.

R&D Expenses: Research and development expenses were $1,225,700 for the quarter ended September 30, 2020, compared to $272,100 for the quarter ended September 30, 2019. The increase was primarily attributable to augmented headcount, increased square footage to our Houston, TX leased facilities, and in-vitro experimentation costs.

G&A Expenses: General and administrative expenses were $1,190,000 for the quarter ended September 30, 2020, compared to $607,400 for the quarter ended September 30, 2019. This increase was primarily due to personnel expenses.

Net Loss: Net loss was $2,415,700 for the quarter ended September 30, 2020, compared to a net loss of $886,900 for the quarter ended September 30, 2019.

Dr. Chiriva-Internati continued, “Developing live-cell therapies by leveraging artificial intelligence is central to transforming the cost and efficiency of the immune-oncology field and improving the potential for off-the-shelf therapies for cancer patients. We believe our approach will help us design more efficient pre-clinical validation studies and more targeted clinical trials, thereby accelerating our drug candidates’ time to approval and eventually to market. DIAMOND is central to our process in achieving this outcome rapidly and with reduced costs,” concluded Dr. Chiriva-Internati.

About Kiromic BioPharma

Kiromic BioPharma, Inc. is a preclinical stage biopharmaceutical company which is focused on discovering, developing, and commercializing novel immune-oncology applications through its robust product pipeline, which are in the pre-IND validation stages of the United States Food and Drug Administration clinical trial process. The pipeline development is leveraged through the Company’s proprietary target discovery engine called “DIAMOND.” Kiromic’s DIAMOND is big data science meeting target identification, dramatically compressing man-years and billions of drug development dollars to develop a live drug. The Company maintains offices in Houston, Texas. The Company has not generated any revenues to date. For more information, please visit the company’s website at www.kiromic.com.

Forward-looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. We make such forward-looking statements pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act, Section 21E of the Securities Exchange Act of 1934, as amended, and other federal securities laws. All statements other than statements of historical facts are forward-looking statements. These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements include, but are not limited to, statements about:

  • our goals and strategies;
  • our future business development, financial condition and results of operations;
  • expected changes in our revenue, costs or expenditures;
  • growth of and competition trends in our industry;
  • our expectations regarding demand for, and market acceptance of, our products;
  • our expectations regarding our relationships with investors, institutional funding partners and other parties we collaborate with;
  • fluctuations in general economic and business conditions in the markets in which we operate; including those fluctuations caused by COVID-19; and
  • relevant government policies and regulations relating to our industry.

In some cases, you can identify forward-looking statements by terms such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under the heading “Risk Factors” included in our Registration Statement on Form S-1 (file no. 333-238153) , originally filed with the Securities and Exchange Commission (SEC) on May 11, 2020, as amended, and elsewhere in this press release. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance.

The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as expressly required by the federal securities laws, there is no undertaking to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-Q, 8-K and other reports filed with the SEC.

 

KIROMIC BIOPHARMA, INC.

Condensed Consolidated Balance Sheets

(Unaudited)

 

 

 

 

 

 

 

 

 

September 30,

 

December 31,

 

 

2020

 

2019

Assets

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

469,300

 

 

$

1,929,100

 

Inventories

 

 

22,200

 

 

 

22,200

 

Prepaid expenses and other current assets

 

 

1,051,900

 

 

 

89,100

 

Total current assets

 

 

1,543,400

 

 

 

2,040,400

 

Property and equipment, net

 

 

1,612,300

 

 

 

587,900

 

Other assets

 

 

24,400

 

 

 

24,400

 

 

 

 

 

 

 

 

Total Assets

 

$

3,180,100

 

 

$

2,652,700

 

 

 

 

 

 

 

 

Liabilities and Stockholders’ Equity:

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

 

Accounts payable

 

$

1,672,900

 

 

$

452,400

 

Accrued expenses and other current liabilities

 

 

473,000

 

 

 

221,300

 

Loan payable

 

 

105,600

 

 

 

 

Total current liabilities

 

 

2,251,500

 

 

 

673,700

 

 

 

 

 

 

 

 

Total Liabilities

 

 

2,251,500

 

 

 

673,700

 

 

 

 

 

 

 

 

Commitments and contingencies (Note 8)

 

 

 

 

 

 

Stockholders’ Equity:

 

 

 

 

 

 

Series A‑1 Preferred Stock, $0.0001 par value: 24,000,000 shares authorized as of September 30, 2020 and December 31, 2019; 21,822,301 shares issued and outstanding as of September 30, 2020 and December 31, 2019

 

 

9,134,700

 

 

 

9,134,700

 

Series B Preferred Stock, $0.0001 par value: 16,500,000 and 14,130,435 shares authorized as of September 30, 2020 and December 31, 2019, respectively; 16,391,397 and 9,869,659 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively

 

 

2,331,300

 

 

 

1,306,900

 

Preferred Stock, $0.0001 par value: 19,500,000 and 21,869,565 shares authorized as of September 30, 2020 and December 31, 2019, respectively; 0 shares issued and outstanding as of September 30, 2020 and December 31, 2019

 

 

 

 

 

 

Common stock: 300,000,000 shares authorized as of September 30, 2020 and December 31, 2019; 4,989,269 and 2,863,812 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively

 

 

 

 

 

 

Additional paid-in capital

 

 

27,525,500

 

 

 

13,965,000

 

Accumulated deficit

 

 

(38,062,900

)

 

 

(22,427,600

)

Total Stockholders’ Equity

 

 

928,600

 

 

 

1,979,000

 

 

 

 

 

 

 

 

Total Liabilities and Stockholders’ Equity

 

$

3,180,100

 

 

$

2,652,700

 

 

KIROMIC BIOPHARMA, INC.

Condensed Consolidated Statements of Operations

(Unaudited)

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

 

2020

 

2019

 

2020

 

2019

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

$

1,225,700

 

 

$

272,100

 

 

$

3,526,100

 

 

$

601,500

 

General and administrative

 

 

1,190,000

 

 

 

607,400

 

 

 

12,109,200

 

 

 

934,300

 

Total operating expenses

 

 

2,415,700

 

 

 

879,500

 

 

 

15,635,300

 

 

 

1,535,800

 

Loss from operations

 

 

(2,415,700

)

 

 

(879,500

)

 

 

(15,635,300

)

 

 

(1,535,800

)

Other expense

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

(7,400

)

 

 

 

 

 

(22,400

)

Total other expense

 

 

 

 

 

(7,400

)

 

 

 

 

 

(22,400

)

Net loss

 

$

(2,415,700

)

 

$

(886,900

)

 

$

(15,635,300

)

 

$

(1,558,200

)

Net loss per share, basic and diluted

 

$

(0.65

)

 

$

(0.32

)

 

$

(4.39

)

 

$

(0.55

)

Weighted average common shares outstanding, basic and diluted

 

 

3,719,132

 

 

 

2,862,523

 

 

 

3,719,132

 

 

 

2,862,523

 

 

Tony Tontat

Chief Financial Officer

628-777-3167

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Biotechnology Hospitals Health Genetics Pharmaceutical

MEDIA:

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Univar Solutions Announces Agreement with Zhuhai Techi Chem Silicone Industry Corporation

PR Newswire

DOWNERS GROVE, Ill., Nov. 30, 2020 /PRNewswire/ — Univar Solutions Inc. (NYSE: UNVR) (“Univar Solutions” or “the Company”), a global chemical and ingredient distributor and provider of value-added services, announced today that its wholly owned subsidiary, Univar Solutions China Co. Ltd., has reached an agreement with Zhuhai Techi Chem Silicone Industry Corporation (“Techi Chem“) to acquire the business to distribute innovative specialty silicone solutions used primarily for the coatings, adhesives, sealants, and elastomers (CASE) market. The agreement is expected to close in mid-December.

This agreement aligns to the Company’s global approach to its dedicated end market verticals as it provides new opportunities for growth by further positioning Univar Solutions to bring differential value to customers and suppliers within the CASE market. With a focus on offering innovative solutions to meet market needs and trends, Univar Solutions intends to deliver a consistent global approach across key industries through a worldwide footprint of industry-leading capabilities, technical Solution Centers and market knowledge, as well as a premier line of products and comprehensive solutions.

“Univar Solutions has the capability to consistently provide our suppliers and customers with added value services to assist in their pursuit of growth and we are very excited to add the depth and breadth of Techi Chem’s leading specialty silicone solutions within the China marketplace,” said Nick Powell, president, Specialty Chemicals and Ingredients and president EMEA & APAC for Univar Solutions. “Our customers throughout China will benefit from Techi Chem’s strong relationship with the leading global silicone supplier as well as Univar Solutions’ global silicone expertise and network of technical Solutions Centers that will provide comprehensive solutions for the Chinese market.”

Founded in 2001, Techi Chem is known for its value-add solutions and logistics footprint that is well suited for the China market. With well-established relationships throughout the industry, Techi Chem is a trusted source for silicone solutions and related technologies.

Techi Chem’s relationships and expertise will benefit our customers in China and throughout the region,” said Myron Li, general manager of Asia Pacific for Univar Solutions. “We look forward to expanding our products and industry solutions for the China market.  With this agreement, Univar Solutions is better positioned to serve South China and fulfill its vision to redefine distribution and be the most valued chemical and ingredient distributor on the planet.”

About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world’s leading producers. With the industry’s largest private transportation fleet and North American sales force, unparalleled logistics know-how, deep market and regulatory knowledge, world-class formulation and recipe development, and leading digital tools the company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. Univar Solutions is committed to helping customers and suppliers innovate and grow together. Learn more at UnivarSolutions.com.

Forward-Looking Statements

This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and outlook for the future, which are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding the impacts of the effects of COVID-19 on the Company, the Company’s anticipated future results and financial performance, liquidity position and cash flows, actions regarding expense control and cost reductions, expected net synergies from the Nexeo acquisition, capital expenditures and other statements regarding the Company’s Streamline 2022 Program and other initiatives. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company’s filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: the sustained geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; current and new actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our customers and suppliers; the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; other fluctuations in general economic conditions, particularly in industrial production and the demands of our customers and the timing and extent of an economic recovery; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our levels of indebtedness, the restrictions imposed by our debt instruments, and our ability to obtain additional financing when needed; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; an inability to integrate the business and systems of companies we acquire, including of Nexeo, or to realize the anticipated benefits of such acquisitions; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality and liability issues and recalls; major or systemic delivery failures involving our distribution network or the products we carry; operational risks for which we may not be adequately insured; ongoing litigation and other legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; potential impairment of goodwill; liabilities associated with acquisitions, ventures and strategic investments; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company’s filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek, “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/univar-solutions-announces-agreement-with-zhuhai-techi-chem-silicone-industry-corporation-301181915.html

SOURCE Univar Solutions Inc.

iClick Interactive Asia Group Limited – Enterprise Solutions Business Extends

PR Newswire

NEW YORK, Nov. 30, 2020 /PRNewswire/ — Record-Breaking Growth iClick (Nasdaq: ICLK) released its quarterly earnings ended September 30, 2020 on November 24. The company’s high-margin SaaS Enterprise Solutions business has been enjoying very strong market demand since the announcement of its Tencent partnership. Riding on the strong momentum, the Enterprise Solutions segment reported record-breaking growth for the fourth consecutive quarter in the third quarter of 2020.

3Q-2020 Earnings Highlights

Returned record revenue and gross profit, marking fourth consecutive quarter of sequential growth in the Enterprise Solutions segment.

Adjusted EBITDA increased by 225% year-over-year, and marked the fourth consecutive quarter of positive adjusted net income.

Well-capitalized cash position to enable business plan execution and active M&A strategy.

Business Update & Outlook 

Share Repurchase Program – As of September 30, 2020, iClick has purchased the company’s shares for an aggregate value of US$0.7 million, since the management announced a share repurchase program on January 15, 2020, in which it may purchase up to US$10 million worth of its own ADS over the 12-month period ending on December 29, 2020.

For the fourth quarter of 2020, management expects the company’s revenue to range between US$73 million and US$76 million, or a quarter-over-quarter increase of 6% -10%, and a year-over-year increase of 28% – 33%. Among which, Enterprise Solutions revenue is expected to range from US$8.5 million to US$10.5 million. Growth profit is expected to be between US$20.5 million and US$23.5 million, representing a year-over-growth of 20% – 38%.

And for the full year of 2020, management expects its revenue to range between US$240 million and US$260 million (a YoY growth of 20% – 30%), gross profit to range between US$70 and 75 million (a YoY growth of 23% – 32%), and adjusted EBITDA to be between US$14 million and US$17 million, compared to adjusted EBITDA of US$6 million in 2019.

Third Quarter 2020 Results Details:

Record-breaking growth in revenue from Enterprise Solutions business.

Total revenue grew ~27% year-over-year to US$68.9 million, attributable to the increase in contributions from existing Marketing Solutions, and especially from Enterprise Solutions.

Marketing Solutions revenue grew 17% year-over-year to US$60 million, and Enterprise Solutions revenue grow 236% year-over-year to US$8.8 million, mainly resulting from the increasing integration need for online and offline consumers’ behavioral data.

Growth billing was US$167.1 million, representing a 7% year-over-year decrease. The decrease was primarily due to the Company’s efforts to optimize its client base, in order to achieve better credit control and to retain and/or attract financially sound customers amid uncertain macroeconomic environment.

Significant year-over-year growth in adjusted EBITDA and net income.

Gross profit grew 48% year-over-year to US$20 million, primarily owing to continual expansion of Marketing Solutions and increasing contribution from the higher-margin Enterprise Solutions.

The company reported adjusted EBITDA of US$4.7 million, increased 225% year-over-year, mainly due to strong gross profit growth. Though the net loss totaled US$7 million, mainly due to the fair value losses in convertible notes of US$1.4 million and in derivative liabilities of US$6.3 million, “adjusted” net income was US$2.4 million, up from US$0.5 million from a year ago, which marked the fourth consecutive quarter of positive adjusted net income.

Strong cash flow position allowing business expansion and the pursuit of M&A opportunities.

iClick’s cash position has further enhanced following the equity financing in September.  As of September 30, 2020, the Company had cash and cash equivalents, time deposits and restricted cash of US$128 million, more than doubled from US$61 million as of Dec. 31, 2019.

The Company is well-capitalized, not only able to better execute its business plan, but also able to actively seek M&A opportunities as part of its long-term growth strategies.

DISCLOSURES AND DISCLAIMERS

Stone Street Group LLC (“Stone Street“) publishes research reports on publicly-traded companies. Stone Street has been retained by the company discussed in this report (the “Company”) to provide ongoing digital investor relations services, including the creation and dissemination of this report. All research published by Stone Street is based on public information, or on information from the Company that the Company is required to promptly make public.

Stone Street is not a broker-dealer or a “covered person” under SEC Regulation AC, and does not distribute its research through a registered broker-dealer or any associated person of a registered broker-dealer. Accordingly, Stone Street is exempt from the provisions of Regulation AC. Nevertheless, Stone Street makes the following voluntary disclosures and disclaimers in connection with its research reports:

NO GUARANTEE:  This research report is not a substitute for the exercise of an investor’s independent due diligence and independent investment determinations. Information contained herein is based on sources we believe to be reliable but we do not guarantee their accuracy. It should be presumed that the analyst who authored this report has had discussions with the Company to endeavor to ensure factual accuracy prior to publication, however, no independent due diligence or verification has been undertaken by the analyst.  No endorsements are made in respect of information provided or published by the subject Company and relied upon by the analyst for purposes of this research report. Recipients of this report should consider this report as only one factor in making any investment decision. This report is for information purposes only and is not intended as an offer to sell or a solicitation to buy securities.  Any and all information provided by the Company which has been publicly disclosed as “forward looking information” remains subject to all uncertainties in such regard and Stone Street makes no assurances or guaranties of actual outcomes. 

NO CONFLICTS OF INTEREST:  Stone Street does NOT own securities of the issuers described herein, and Stone Street does not make a market in any securities. Stone Street does not engage in, or receive compensation from, any investment banking or corporate finance-related activities with the company discussed in the report. Stone Street’s contracts with issuers protect Stone Street’s full editorial control of all research, timing of release of reports, and release from liability for negative reports.

ANALYST INDEPENDENCE:  Each Stone Street analyst has full discretion on the analysis and revenue targets contained in the report, based on his or her own due diligence. Analysts are paid in part based on overall profitability of Stone Street. No part of analyst compensation was, or will be, directly or indirectly, related to the specific recommendations or views expressed in any report or article. Stone Street policy does not allow an analyst or a member of their household (i) to own, trade, or have any beneficial interest in any securities of any company that analyst covers, or (ii) serve as an officer or director of a covered company.

RISK FACTORS:  Earnings targets and opinions concerning the composition of market sectors included in this report reflect analyst judgments as of this date and are subject to change without notice. A risk to our earnings targets is that the analyst’s estimates or forecasts may not be met. This report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from such forward-looking statements. Factors that may cause such differences include, but are not limited to, those discussed in the “Risk Factors” section in the issuer’s SEC filings available in electronic format through SEC Edgar filings at www.sec.gov.

COMPENSATION:  Stone Street received a flat fee from or on behalf of the Company for the creation and dissemination of the report. Stone Street has not received investment banking income from the Company in the past 12 months, and does not expect to receive investment banking income from the Company in the next 12 months.

ANALYST CERTIFICATION:  The research analyst certifies that this report accurately reflects his/her personal views about the Company’s securities that none of the research analyst’s compensation was, is or will be, directly or indirectly, related to the analyst’s specific recommendations or views contained in this research report.

Cision View original content:http://www.prnewswire.com/news-releases/iclick-interactive-asia-group-limited—enterprise-solutions-business-extends-301181857.html

SOURCE iClick Interactive Asia Group Limited

TILE INVESTOR DEADLINE: Hagens Berman, National Trial Attorneys, Encourages Interface, Inc. (TILE) Investors with Losses to Contact Its Attorneys Now, Securities Fraud Application Deadline Approaching

SAN FRANCISCO, Nov. 30, 2020 (GLOBE NEWSWIRE) — Hagens Berman urges Interface, Inc. (NASDAQ: TILE) investors with significant losses to submit your losses now. A securities fraud class action has been filed and certain investors may have valuable claims.

Class
Period: Mar. 2, 2018 – Sept. 28, 2020
Lead Plaintiff Deadline: Jan. 11, 2021
Visit:www.hbsslaw.com/investor-fraud/TILE
Contact An Attorney Now:[email protected]
         844-9160895

Interface, Inc.
(
TILE
)
Securities Class Action
:

The lawsuit centers on Interface’s disclosures of its financial results, including its accounting for certain expenses such as management bonus accruals, independent consultant fees and stock-based compensation.

According to the complaint, Interface and senior management repeatedly pleased investors when it reported income and earnings per share growth, consistently meeting or exceeding analysts’ estimates and assured them that the Company’s internal controls over financial reporting were effective.

Investors began to learn the truth, according to the complaint, on Apr. 24, 2019 when Interface announced that the SEC had served three separate subpoenas on the Company probing its earnings per share calculations from 2014 – 2017. The Company also announced that it had placed its Chief Accounting Officer Gregory Bauer on administrative leave when it learned Bauer added notes to materials produced to the SEC. Yet, the Company and senior management maintained they had cooperated with the SEC investigation since its inception.

Then, on Sept. 28, 2020, the SEC filed a settled action against the Company for securities law violations, finding that (1) during Q2 2015 through Q2 2016 Interface made unsupported manual accounting adjustments to certain expenses to meet EPS estimates, (2) Bauer, and former Chief Financial Officer (Patrick Lynch) directed the unsupported entries, and (3) Interface impeded the SEC’s investigation.

These disclosures drove the price of Interface shares down sharply.

“We’re focused on investors’ losses and proving Interface and senior management intentionally misled investors through illegal earnings smoothing,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are an Interface investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Interface should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 8449160895 or email [email protected].


About Hagens Berman


Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation.   More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact
:

Reed Kathrein, 844-916-0895



SBA Proposes Small Business Size Standard Revisions in Five Industrial Sectors; Change Aimed at Increasing Eligibility for Contracting and Loan Programs

Public Comments Due by Jan. 26, 2021

Washington, Nov. 30, 2020 (GLOBE NEWSWIRE) — The U.S. Small Business Administration is seeking public comments on a proposed rule that would revise the small business size standards for businesses in five North American Industrial Classification System (NAICS) sectors to increase small business eligibility for SBA’s loan and contracting programs. 

Comments can be submitted on this proposed rule on or before Jan. 26, 2021 at www.regulations.gov, using the following RIN number: RIN 3245-AG88. You may also comment by mail to Khem R. Sharma, Chief, Size Standards Division, 409 3rd Street SW, Mail Code 6530, Washington, D.C., 20416.

The NAICS sectors reviewed in the proposed rule are: Education Services; Health Care and Social Assistance; Arts, Entertainment and Recreation; Accommodation and Food Services; and Other Services.  SBA proposes to increase size standards for 70 industries in those sectors. The following table includes the number of industries reviewed and the number of industries with proposed increases in size standards by NAICS sector.

NAICS Sector Sector Name No. of Industries Reviewed No. of Industries with Increases
61 Education Services 18 14
62 Health Care and Social Assistance 39 18
71 Arts, Entertainment and Recreation 25 11
72 Accommodation and Food Services 15 4
81 Other Services 48 23
Total   145 70

SBA estimates that about 4,700 additional firms in these three sectors will become eligible for SBA’s programs under the revised size standards, if adopted.

The proposed rule is part of a five-year comprehensive review of small business size standards, as required under the Small Business Jobs Act of 2010.  The proposed revisions reflect changes in the industry and federal marketplace conditions and SBA’s policy position under the current economic situation due to the COVID-19 pandemic.  In response to the pandemic, SBA is retaining current size standards where data suggests that size standards should be lowered.

As part of the ongoing review of all size standards, SBA considers the structural characteristics of individual industries, including average firm size, the degree of competition, and federal government contracting trends.  This ensures that small business size standards reflect current economic conditions in those industries.  The proposed revisions to the size standards in these sectors will enable more small businesses to retain their small business status and will provide federal agencies a larger pool of small businesses to choose from for small business procurement opportunities and help eligible small businesses benefit from SBA’s loan programs.

An SBA-issued White Paper entitled, “SBA’S Size Standards Methodology,” which explains how SBA establishes, reviews and modifies its receipts-based and employee-based small business size standards, can be viewed at http://www.sba.gov/size.

For more information about SBA’s revisions to its small business size standards, visit “announcements about updating size standards” at http://www.sba.gov/size.

### 

About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit https://www.sba.gov.



Tiffani Clements
United States Small Business Administration
[email protected]

Richmond Mutual Bancorporation, Inc. Announces the Death of its Director W. Ray (Steve) Stevens, III

PR Newswire

RICHMOND, Ind., Nov. 30, 2020 /PRNewswire/ — Richmond Mutual Bancorporation, Inc. (the “Company”) (NASDAQ: RMBI), parent company to First Bank Richmond, today announced the passing of W. Ray (Steve) Stevens, III.  Mr. Stevens passed away unexpectedly on November 25, 2020 in his home. Mr. Stevens served as a director of First Bank Richmond for over 25 years and as a director of the Company since its formation in 2019. He also served as chair of the Company’s audit committee and as a member of its corporate governance and nominating committee.

Garry Kleer, Chairman of the Board, President and Chief Executive Officer of the Company and the Bank said, “We are deeply saddened by the passing of our director and friend. This is a major loss for us as Steve was an important member of our board, a key figure in what we have accomplished at the Bank, including our recent reorganization to a public company and stock offering, and, above all, a great human being.”

Mr. Stevens was the President and Owner of Stevens Wire Products, a manufacturer of wire products, from 1986 until his retirement in 2016. He is a past board member of the Wire Fabricators Association, the Richmond YMCA, the Richmond Redevelopment Commission, the Wayne County Chamber of Commerce and the Forest Hills Country Club and has supported various not-for-profit organizations in our community. Mr. Stevens graduated with a Bachelor of Science degree from Indiana University.

About Richmond Mutual Bancorporation, Inc.

Richmond Mutual Bancorporation, Inc., headquartered in Richmond, Indiana, is the holding company for First Bank Richmond, a community-oriented financial institution offering traditional financial and trust services within its local communities through its eight locations in Richmond, Centerville, Cambridge City and Shelbyville, Indiana, its five locations in Sidney, Piqua and Troy, Ohio and its loan production office in Columbus, Ohio.

Cision View original content:http://www.prnewswire.com/news-releases/richmond-mutual-bancorporation-inc-announces-the-death-of-its-director-w-ray-steve-stevens-iii-301181910.html

SOURCE Richmond Mutual Bancorporation, Inc.

World’s Leading Life Science Companies Now Enrolling COMMUNITY, A Global, Platform Trial For Hospitalized Patients With COVID-19

– A range of therapeutics will be evaluated for their potential efficacy and safety relative to the condition severity of patients hospitalized with COVID-19

– Trial sites are being established in hospitals around the world to support enrollment in communities where the virus is present

– This is the first time that industry has come together to launch an adaptive clinical trial

PR Newswire

THOUSAND OAKS, Calif., Nov. 30, 2020 /PRNewswire/ — Three members of the COVID R&D Alliance – Amgen Inc. (NASDAQ: AMGN), Takeda Pharmaceutical Co. Ltd. (NYSE: TAK), and UCB (Euronext BR: UCB) – today announced the first patient enrolled in the COMMUNITY Trial (COVID-19 Multiple Agents and Modulators Unified Industry Members). COMMUNITY is a randomized, double-blind, placebo-controlled, adaptive platform trial that enables an array of therapeutic candidates to be studied in hospitalized COVID-19 patients.

With worldwide COVID-19 deaths exceeding one million and a resurgence of cases globally, life science companies are working urgently to identify treatments that can potentially reduce clinical severity of COVID-19 in hospitalized patients. COMMUNITY is the first platform trial designed and launched by members of the COVID R&D Alliance, a group of more than 20 leading pharmaceutical and biotech companies who are devoting significant time, insights and company resources to speed the development of potential therapies, novel antibodies, and anti-viral therapies for COVID-19 and its related symptoms.

“As this insidious virus rapidly spreads around the globe, doctors need options to treat hospitalized patients who are actively sick and experiencing a range of symptoms as the disease progresses,” said David M. Reese, M.D., Executive Vice President Research & Development, Amgen. “Working hand-in-hand with our peers, we hope to find options that could potentially save lives of the patients who will need treatments for COVID-19 before widespread availability of a vaccine.”

COMMUNITY uses an adaptive design which allows for the addition, removal and simultaneous study of multiple therapeutic candidates during the course of the trial. Multiple candidates will be tested against a shared placebo-controlled arm. The design allows for a streamlined approach which may accelerate execution of the study and save time as we search for therapeutics in the fight against the pandemic. Immunomodulating therapies will be the first candidates to enter COMMUNITY. Other therapies may join in the future, such as antivirals.

The trial’s design and global footprint were selected to address potential barriers in the study of COVID-19 therapeutics. This includes anticipating and activating trial sites to align with the rise and fall of COVID cases across geographic regions as well as streamlining an influx in trial-related inquiries faced by some hospitals and health systems. COMMUNITY will onboard global sites in the United States, Brazil, Mexico, Russia, South Africa and other countries.  This geographic diversity will allow the trial sites to be active when cases spike locally. COMMUNITY aims to simplify the study of investigational therapies that may result in potential treatment options and address the needs of hospitals in treating patients.

“COVID is not confined to one country, making it imperative that we share the challenges, successes and insights in real-time,” said Dhavalkumar Patel, Executive Vice President and Chief Scientific Officer, UCB. “By sharing our expertise and resources, we hope to arm care teams with promising investigational therapies to help patients who cannot wait.”

Uncontrolled vascular and immune inflammatory responses have proven to be hallmark symptoms in patients facing severe COVID-19 infections. These patients may face increased risk of acute respiratory distress syndrome (ARDS), stroke and death. Initial therapies entering into COMMUNITY were selected based upon their potential to suppress or control the immune response or the resulting inflammation. None of these therapies have been approved by the FDA, EMA, or other health authorities for the treatment of COVID-19 or its symptoms and are still investigational. These include:

  • Amgen’s OTEZLA® (apremilast), which may suppress immune response inflammation;
  • Takeda’s investigational intravenous administration of lanadelumab, which modulates the kallikrein-kinin system and suppresses production of bradykinin, potentially lessening inflammation;
  • UCB’s zilucoplan, an investigational medicine that may reduce overactivation of the immune system that contributes to ARDS.

OTEZLA entered COMMUNITY this week. It is expected lanadelumab and zilucoplan will enter in the coming weeks. Other anti-viral, immunomodulating and vascular agents may enter in the coming months.

COMMUNITY is studying hospitalized COVID-19 patients. This includes confirmed COVID-19 patients who may require either ongoing medical care, supplemental oxygen, noninvasive ventilation or high-flow oxygen devices, or invasive mechanical ventilation or extracorporeal membrane oxygenation (ECMO). By enrolling both hospitalized Intensive Care Unit and non-Intensive Care Unit patients, the trial seeks to yield greater understanding of how therapeutic interventions may be used with hospitalized COVID-19 patients experiencing a range of symptoms.

About COMMUNITY
COMMUNITY is an adaptive, randomized, double-blind, placebo-controlled platform study designed to assess multiple candidates as a potential treatment for hospitalized patients with COVID-19, a disease caused by severe acute respiratory syndrome coronavirus 2 (SARS CoV 2). The focus of the trial is to identify an effective treatment(s) for hospitalized COVID-19 patients, who are Grade 2 to Grade 5 on a Clinical Severity Status 8-Point Ordinal Scale.

The primary endpoint of COMMUNITY is time to confirmed clinical recovery without being re-hospitalized through Day 29 based on the clinical severity status scale, which is defined as achieving a score of 6, 7, or 8. Key secondary endpoints are oxygen-free recovery, improvement from baseline or fit for discharge from baseline, and all-cause mortality.

Patients will be randomized equally to either the candidate agent plus the standard of care or a placebo plus standard of care in a double-blind fashion. Patients who are randomized to placebo plus standard of care will be subsequently randomized equally to a matching placebo corresponding to an available agent.

About the COVID R&D Alliance
Organized in March 2020, the COVID R&D Alliance is operating unconstrained by past models of development and is accelerating the study candidates without regard to company affiliation. Members are sharing clinical trial data and real-world evidence, as well as crowd-sourcing early stage candidates to identify mechanisms and treatments that may be effective against COVID-19. Initial efforts by the group focus on advancing well understood therapies and late-stage investigational medicines for hospitalized patients who need treatment options. Activities are testing re-purposed molecules and early stage candidates. Member companies have 40 trials expected to have findings in the coming months.

Additional information on the COVID R&D Alliance is available at www.CovidRDAlliance.com.

About Otezla® (apremilast)
OTEZLA® (apremilast) is an oral small-molecule inhibitor of phosphodiesterase 4 (PDE4) specific for cyclic adenosine monophosphate (cAMP). PDE4 inhibition results in increased intracellular cAMP levels, which is thought to indirectly modulate the production of inflammatory mediators. The specific mechanism(s) by which OTEZLA exerts its therapeutic action in patients is not well defined.

Otezla is currently approved for use in more than 50 countries as an oral treatment for inflammatory diseases such as psoriasis and psoriatic arthritis. By inhibiting PDE4, Otezla is thought to modulate the production of inflammatory cytokines and other mediators, which may prove helpful in inhibiting the inflammatory response associated with the signs, symptoms and pulmonary involvements observed in some COVID-19 patients. Amgen plans to collaborate with platform trials to investigate Otezla in treatment of hospitalized COVID-19 patients.

Otezla® (apremilast) U.S. INDICATIONS
Otezla® (apremilast) is indicated for the treatment of adult patients with moderate to severe plaque psoriasis who are candidates for phototherapy or systemic therapy.

Otezla is indicated for the treatment of adult patients with active psoriatic arthritis.

Otezla is indicated for the treatment of adult patients with oral ulcers associated with Behçet’s Disease.

Otezla® (apremilast) U.S. IMPORTANT SAFETY INFORMATION


Contraindications

  • Otezla® (apremilast) is contraindicated in patients with a known hypersensitivity to apremilast or to any of the excipients in the formulation


Warnings and Precautions

  • Diarrhea, Nausea, and Vomiting: Cases of severe diarrhea, nausea, and vomiting were associated with the use of Otezla. Most events occurred within the first few weeks of treatment. In some cases, patients were hospitalized. Patients 65 years of age or older and patients taking medications that can lead to volume depletion or hypotension may be at a higher risk of complications from severe diarrhea, nausea, or vomiting. Monitor patients who are more susceptible to complications of diarrhea or vomiting; advise patients to contact their healthcare provider. Consider Otezla dose reduction or suspension if patients develop severe diarrhea, nausea, or vomiting
  • Depression: Carefully weigh the risks and benefits of treatment with Otezla for patients with a history of depression and/or suicidal thoughts/behavior, or in patients who develop such symptoms while on Otezla. Patients, caregivers, and families should be advised of the need to be alert for the emergence or worsening of depression, suicidal thoughts, or other mood changes, and they should contact their healthcare provider if such changes occur
    • Psoriasis: Treatment with Otezla is associated with an increase in depression. During clinical trials, 1.3% (12/920) of patients reported depression compared to 0.4% (2/506) on placebo. Depression was reported as serious in 0.1% (1/1308) of patients exposed to Otezla, compared to none in placebo-treated patients (0/506). Suicidal behavior was observed in 0.1% (1/1308) of patients on Otezla, compared to 0.2% (1/506) on placebo. One patient treated with Otezla attempted suicide; one patient on placebo committed suicide
    • Psoriatic Arthritis: Treatment with Otezla is associated with an increase in depression. During clinical trials, 1.0% (10/998) reported depression or depressed mood compared to 0.8% (4/495) treated with placebo. Suicidal ideation and behavior was observed in 0.2% (3/1441) of patients on Otezla, compared to none in placebo-treated patients. Depression was reported as serious in 0.2% (3/1441) of patients exposed to Otezla, compared to none in placebo-treated patients (0/495). Two patients who received placebo committed suicide compared to none on Otezla
    • Behçet’s Disease: Treatment with Otezla is associated with an increase in depression. During the phase 3 clinical trial, 1% (1/104) reported depression or depressed mood compared to 1% (1/103) treated with placebo. No instances of suicidal ideation or behavior were reported in patients treated with Otezla or treated with placebo
  • Weight Decrease: Monitor body weight regularly; evaluate unexplained or clinically significant weight loss, and consider discontinuation of Otezla
    • Psoriasis: During clinical trials, body weight loss of 5-10% occurred in 12% (96/784) of patients treated with Otezla and in 5% (19/382) of patients treated with placebo. Body weight loss of ≥10% occurred in 2% (16/784) of patients treated with Otezla compared to 1% (3/382) of patients treated with placebo
    • Psoriatic Arthritis: During clinical trials, body weight loss of 5-10% was reported in 10% (49/497) of patients taking Otezla and in 3.3% (16/495) of patients taking placebo
    • Behçet’s Disease: During the phase 3 clinical trial, body weight loss of >5% was reported in 4.9% (5/103) of patients taking Otezla and in 3.9% (4/102) of patients taking placebo
  • Drug Interactions: Apremilast exposure was decreased when Otezla was co-administered with rifampin, a strong CYP450 enzyme inducer; loss of Otezla efficacy may occur. Concomitant use of Otezla with CYP450 enzyme inducers (e.g., rifampin, phenobarbital, carbamazepine, phenytoin) is not recommended


Adverse Reactions

  • Psoriasis: Adverse reactions reported in ≥5% of patients were (Otezla%, placebo%): diarrhea (17, 6), nausea (17, 7), upper respiratory tract infection (9, 6), tension headache (8, 4), and headache (6, 4)
  • Psoriatic Arthritis: Adverse reactions reported in at least 2% of patients taking Otezla, that occurred at a frequency at least 1% higher than that observed in patients taking placebo, for up to 16 weeks (after the initial 5-day titration), were (Otezla%, placebo%): diarrhea (7.7, 1.6); nausea (8.9, 3.1); headache (5.9, 2.2); upper respiratory tract infection (3.9, 1.8); vomiting (3.2, 0.4); nasopharyngitis (2.6, 1.6); upper abdominal pain (2.0, 0.2)
  • Behçet’s Disease: Adverse reactions reported in at least ≥5% of patients taking Otezla, that occurred at a frequency at least 1% higher than that observed in patients taking placebo, for up to 12 weeks, were (Otezla%, placebo%): diarrhea (41.3, 20.4); nausea (19.2, 10.7); headache (14.4, 10.7); upper respiratory tract infection (11.5, 4.9); upper abdominal pain (8.7, 1.9); vomiting (8.7, 1.9); back pain (7.7, 5.8); viral upper respiratory tract infection (6.7, 4.9); arthralgia (5.8, 2.9)


Use in Specific Populations

  • Pregnancy: Otezla has not been studied in pregnant women. Advise pregnant women of the potential risk of fetal loss. Consider pregnancy planning and prevention for females of reproductive potential. There is a pregnancy exposure registry that monitors pregnancy outcomes in women exposed to Otezla during pregnancy. Information about the registry can be obtained by calling 1-877-311-8972 or visiting https://mothertobaby.org/ongoing-study/otezla/
  • Lactation: There are no data on the presence of apremilast or its metabolites in human milk, the effects of apremilast on the breastfed infant, or the effects of the drug on milk production. The developmental and health benefits of breastfeeding should be considered along with the mother’s clinical need for Otezla and any potential adverse effects on the breastfed child from Otezla or from the underlying maternal condition
  • Renal Impairment: Otezla dosage should be reduced in patients with severe renal impairment (creatinine clearance less than 30 mL/min) for details, see Dosage and Administration, Section 2, in the Full Prescribing Information

Please click here for Otezla® Full Prescribing Information.

About lanadelumab

Lanadelumab is a fully human monoclonal antibody that specifically binds and inhibits plasma kallikrein activity. Lanadelumab is produced in Chinese Hamster Ovary (CHO) cells by recombinant DNA technology.

Based on its mechanism of action, lanadelumab may prevent the pro-inflammatory effects of SARS-COV2 and the extravasation and accumulation of fluid within the lungs during a serious and prolonged COVID-19 illness by decreasing plasma kallikrein activity and regulating excess bradykinin signaling. In addition, lanadelumab-induced plasma kallikrein inhibition may help to reduce inflammation and coagulation driven by FXII, which is activated by plasma kallikrein through a positive feedback loop. An investigational intravenous administration of lanadelumab is being studied.

Lanadelumab (marketed under the tradename TAKHZYRO®) is approved as a subcutaneous formulation for prophylaxis to prevent attacks of hereditary angioedema (HAE) in patients ≥12 years of age.

U.S. INDICATION AND IMPORTANT SAFETY INFORMATION 
INDICATION
TAKHZYRO (lanadelumab-flyo) is indicated for prophylaxis to prevent attacks of hereditary angioedema (HAE) in patients ≥12 years of age.

IMPORTANT SAFETY INFORMATION

Hypersensitivity reactions have been observed. In case of a severe hypersensitivity reaction, discontinue TAKHZYRO administration and institute appropriate treatment.

Adverse Reactions: The most commonly observed adverse reactions (≥10% and higher than placebo) associated with TAKHZYRO were injection site reactions consisting mainly of pain, erythema, and bruising at the injection site; upper respiratory infection; headache; rash; myalgia; dizziness; and diarrhea. Less common adverse reactions observed included elevated levels of transaminases; one patient discontinued the trial for elevated transaminases.

Use in Specific Populations: The safety and efficacy of TAKHZYRO in pediatric patients <12 years of age have not been established.
No data are available on TAKHZYRO in pregnant women. No data are available on the presence of lanadelumab in human milk or its effects on breastfed infants or milk production.

To report SUSPECTED ADVERSE REACTIONS, contact Dyax Corp., a Takeda company, at 1-800-828-2088, or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch

For U.S. audiences, please see the full Prescribing Information including Patient Information for TAKHZYRO®.

About Zilucoplan
Zilucoplan, an investigational drug product, is a once-daily self-administered, subcutaneous peptide inhibitor of C5 which is in Phase III development for the treatment of generalized Myasthenia Gravis (gMG). Zilucoplan is also being investigated in immune-mediated necrotizing myopathy (IMNM), amyotrophic lateral sclerosis (ALS) and other tissue-based complement-mediated disorders. Zilucoplan has not been approved by any regulatory authority for any indication.

About Amgen
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing, and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.

Amgen focuses on areas of high unmet medical need and leverages its biologics manufacturing expertise to strive for solutions that improve health outcomes and dramatically improve people’s lives. A biotechnology pioneer since 1980, Amgen has grown to be the world’s largest independent biotechnology company, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential. 

For more information, visit www.amgen.com and follow us on www.twitter.com/amgen.

Amgen Forward-Looking Statements
This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company, including BeiGene, Ltd. or any collaboration or potential collaboration in pursuit of therapeutic antibodies against COVID-19 (including statements regarding such collaboration’s, or our own, ability to discover and develop fully-human neutralizing antibodies targeting SARS-CoV-2 or antibodies against targets other than the SARS-CoV-2 receptor binding domain, and/or to produce any such antibodies to potentially prevent or treat COVID-19), or the Otezla® (apremilast) acquisition (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on Amgen’s business, outcomes, progress, or effects relating to studies of Otezla as a potential treatment for COVID-19, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including its most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

No forward-looking statement can be guaranteed and actual results may differ materially from those Amgen projects. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. 

The scientific information discussed in this news release related to Amgen’s product candidates is preliminary and investigative. Such product candidates are not approved by the U.S. Food and Drug Administration, and no conclusions can or should be drawn regarding the safety or effectiveness of the product candidates. Further, any scientific information discussed in this news release relating to new indications for Amgen’s products is preliminary and investigative and is not part of the labeling approved by the U.S. Food and Drug Administration for the products. The products are not approved for the investigational use(s) discussed in this news release, and no conclusions can or should be drawn regarding the safety or effectiveness of the products for these uses.

About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to bringing better health and a brighter future to patients by translating science into highly-innovative medicines. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Diseases, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people’s lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries.

For more information, visit https://www.takeda.com.

Takeda Forward-Looking Statements
This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could” “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations; the success of or failure of product development programs; decisions of regulatory authorities and the timing thereof; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/reports/sec-filings/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

About UCB
UCB (www.ucb.com) is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. With 7,600 people in approximately 40 countries, the company generated revenue of €4.9 billion in 2019. UCB is listed on Euronext Brussels (symbol: UCB).

UCB Forward-Looking Statements

This press release contains forward-looking statements based on current plans, estimates and beliefs of management. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including estimates of revenues, operating margins, capital expenditures, cash, other financial information, expected legal, political, regulatory or clinical results and other such estimates and results. By their nature, such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions which could cause actual results to differ materially from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: changes in general economic, business and competitive conditions, the inability to obtain necessary regulatory approvals or to obtain them on acceptable terms, costs associated with research and development, changes in the prospects for products in the pipeline or under development by UCB, effects of future judicial decisions or governmental investigations, product liability claims, challenges to patent protection for products or product candidates, changes in laws or regulations, exchange rate fluctuations, changes or uncertainties in tax laws or the administration of such laws and hiring and retention of its employees.

Additionally, information contained in this document shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction. UCB is providing this information as of the date of this document and expressly disclaims any duty to update any information contained in this press release, either to confirm the actual results or to report a change in its expectations.

There is no guarantee that new product candidates in the pipeline will progress to product approval or that new indications for existing products will be developed and approved. Products or potential products which are the subject of partnerships, joint ventures or licensing collaborations may be subject to differences between the partners. Also, UCB or others could discover safety, side effects or manufacturing problems with its products after they are marketed.

Moreover, sales may be impacted by international and domestic trends toward managed care and health care cost containment and the reimbursement policies imposed by third-party payers as well as legislation affecting biopharmaceutical pricing and reimbursement. 

 

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ExxonMobil to Prioritize Capital Investments on High-Value Assets

ExxonMobil to Prioritize Capital Investments on High-Value Assets

  • Capital and exploration investments of $16-$19 billion in 2021; $20 billion to $25 billion annually to 2025
  • Near-term investment priorities: Guyana, Permian, Brazil, Chemicals performance products
  • Certain dry gas assets removed from development plan; after-tax impairment of $17 billion to $20 billion
  • Commitment to cost reduction, reliable dividend remains unchanged

IRVING, Texas–(BUSINESS WIRE)–
ExxonMobil has completed a review of its forward business plans and will prioritize near-term capital spending on advantaged assets with the highest potential future value, including developments in Guyana and the U.S. Permian Basin, targeted exploration in Brazil and Chemicals projects to grow high-value performance products.

“Recent exploration success and reductions in development costs of strategic investments have further enhanced the value of our industry-leading investment portfolio,” said Darren Woods, chairman and chief executive officer for Exxon Mobil Corporation. “Continued emphasis on high-grading the asset base – through exploration, divestment and prioritization of advantaged development opportunities – will improve earnings power and cash generation, and rebuild balance sheet capacity to manage future commodity price cycles while working to maintain a reliable dividend.”

The company said its annual business plan focused on the following priorities and actions:

  • Leveraging the significant cost savings realized in 2020 that are on track to exceed announced reductions of $10 billion or 30 percent of capital spending and 15 percent of cash operating expenses. Key to ongoing expense management are business line reorganizations and efficiencies that include global workforce reduction of 15 percent by year-end 2021.
  • Continued pacing of investments. The company expects $16 billion to $19 billion in capital and exploration expenditures in 2021, and $20 billion to $25 billion annually through 2025.
  • Preserving the long-term value of the company’s investment portfolio by offsetting costs associated with project delays. The company plans to double earnings by 2027, when viewed on the same price and margin assumptions used in the 2020 Investor Day materials.
  • Removal of less strategic assets from its development plan as a result of the growing strength of its portfolio. Assets removed include certain dry gas resources in the Appalachian and Rocky Mountains, Oklahoma, Texas, Louisiana and Arkansas in the United States, and in western Canada and Argentina. The decision will result in a non-cash, after-tax fourth quarter impairment charge of approximately $17 billion to $20 billion.
  • Increased focus on monetization of less strategic assets to grow the portfolio of potential divestments, including certain North American dry gas assets, contingent on buyer valuations.

Woods said the business environment in the fourth quarter is showing signs of improvement despite the resurgence in COVID-19 cases and accompanying economic restrictions.

“Prices and margins for many of our businesses have improved from the third quarter and when coupled with continuing efforts to reduce spending and capture additional efficiencies, quarter-to-date cash flow has improved versus our plan assumptions,” he said.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.

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Cautionary Statement

Statements related to outlooks, projections, goals, accounting estimates, descriptions of strategic plans and objectives, and other statements of future events or conditions are forward-looking statements. Actual future results, including financial and operating performance; future earnings growth; the impact of the COVID-19 pandemic on results; planned capital and cash operating expenses for future years and the ability to meet or exceed announced reductions against prior plans; total capital expenditures and mix; cash flow; capital allocation and debt levels; dividend and shareholder returns; business and project plans, timing, costs and capacities; accounting and financial reporting effects, including potential impairment charges resulting from changes in current development plan strategy or divestment plans; and the pace and outcome of divestments, could differ materially due to a number of factors. These include global or regional changes in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market conditions that impact prices and differentials; the outcome of government policies and actions, including actions taken to address COVID-19 and to maintain the functioning of national and global economies and markets; the impact of company actions to protect the health and safety of employees, vendors, customers, and communities; the severity, length and ultimate impact of COVID-19 on people and economies, including the nature and pace of economic recovery as well as the ability of ExxonMobil and its vendors and contractors to maintain operations while taking appropriate health protective measures for employees and others; reservoir performance; the outcome of exploration projects and timely completion of development and construction projects; changes in law, taxes, or regulation including environmental regulations, and timely granting of governmental permits; war, trade agreements and patterns, shipping blockades or harassment, and other political or security disturbances; opportunities for and regulatory approval of potential investments or divestments; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies while maintaining future competitive positioning; general economic conditions including the occurrence and duration of economic recessions; and other factors discussed under the heading Factors Affecting Future Results on the Investors page of our website at www.exxonmobil.com and in Item 1A of ExxonMobil’s 2019 Form 10-K and subsequent Forms 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020. Statements regarding plans or potential outcomes for the fourth quarter 2020 and for 2021 through 2027 remain subject to final assessments and analysis based on the company plan approved by the Board of Directors in November 2020. We assume no duty to update these statements as of any future date.

Forward-looking statements contained in this release regarding the potential for future earnings growth potential are not forecasts of actual future results. These figures are provided to help quantify the potential future results and goals of currently-contemplated management plans and objectives including planned project investments, plans to grow Upstream production volumes, plans to increase sales in our Downstream and Chemical segments and to shift our Downstream product mix toward higher-value products, continued highgrading of ExxonMobil’s portfolio through our ongoing asset management program, initiatives to improve efficiencies and reduce costs, capital expenditures and cash management, and other efforts within management’s control to impact future results. These figures are intended to quantify for illustrative purposes management’s view of the potentials for these efforts and the potential to achieve these results subject to a timeframe of 2027 in comparison to the 2025 time frame previously communicated at our 2020 Investor Day as a result of the impacts of COVID and related events. These prices are not intended to reflect management’s forecasts for future prices or the prices we use for internal planning purposes. The reference to the potential for doubling of earnings by 2027 is in comparison to 2017 adjusted earnings, i.e., reported earnings of $19.7 billion excluding the effects of U.S. tax reform and impairments resulting in adjusted 2017 earnings of $15.3 billion.

Future growth potential as presented at the company’s 2020 Investor Day was based on pre-COVID assumptions including $60 real prices for Brent crude, $3/mbtu Henry Hub prices for natural gas, and historical Downstream and Chemical margins over the 2015-2019 time period, and no significant changes in applicable laws or regulations or fiscal terms vs the environment at that time. Updated assumptions supporting the company’s future view of growth potential will be discussed at the company’s next Investor Day scheduled for March 2021.

References to the resource base and other quantities of oil, natural gas or condensate may include estimated amounts that are not yet classified as “proved reserves” under SEC definitions, but which are expected to be ultimately recoverable. The term “project” as used in this report can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.

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