Market Newsdesk

LITTLE FALLS, N.J., Nov. 24, 2020 /PRNewswire/ — CANTEL MEDICAL CORP. (NYSE:CMD) will release the results for its first quarter ended October 31, 2020 on Tuesday, December 8, 2020 before the market opens, and hold a conference call to discuss the results at 8:30 a.m. ET.

To participate in the conference call, dial 1-844-602-0380 (US & Canada) or 1-862-298-0970 (International) approximately 5 to 10 minutes before the beginning of the call. If you are unable to participate, a digital replay of the call will be available from Tuesday, December 8, 2020 through midnight on January 7, 2021 by dialing 1-877-481-4010 (US & Canada) or 1-919-882-2331 (International) and using conference ID# 38447.

An audio webcast will be available via the Cantel website at www.cantelmedical.com. A replay of the presentation will be archived on the Cantel website for those unable to listen live. In addition, the Company will provide a supplemental presentation to complement the conference call. The presentation can be accessed on Cantel’s website in the Investor Relations section under presentations.

About Cantel Medical Corp.
Cantel Medical is a leading global company dedicated to delivering innovative infection prevention products and services for patients, caregivers, and other healthcare providers which improve outcomes, enhance safety and help save lives. Our products include specialized medical device reprocessing systems for endoscopy and renal dialysis, advanced water purification equipment, sterilants, disinfectants and cleaners, sterility assurance monitoring products for hospitals and dental clinics, disposable infection control products primarily for dental and GI endoscopy markets, instruments and instrument reprocessing workflow systems serving the dental industry, dialysate concentrates, hollow fiber membrane filtration and separation products. Additionally, we provide technical service for our products.

For further information, visit www.cantelmedical.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/cantel-medical-corp-to-hold-conference-call-to-discuss-results-for-its-first-quarter-ended-october-31-2020-301179302.html

SOURCE Cantel Medical Corp.

KATY, Texas, Nov. 24, 2020 /PRNewswire/ — Academy Sports and Outdoors, Inc. (“Academy” or the “Company”) (NASDAQ: ASO) plans to report its third quarter 2020 financial results before the market opens on Thursday, December 10, 2020.

Academy will host a live conference call that day at 11:00 a.m. Eastern Time to discuss the financial results.  Participants interested in accessing the live call can dial 1-800-289-0438 from the U.S. or 1-323-794-2423 from international locations.  The conference passcode is 4060996.   An audio webcast of the live call can be accessed on the Investor Relations section of the Company’s website at investors.academy.com.  To listen to the live call, please dial in or go to the website at least 10 minutes prior to the start of the call.

A telephonic replay of the conference call will be available shortly after its broadcast for approximately 30 days, by dialing 1-844-512-2921 from the U.S. or 1-412-317-6671 from international locations, and entering conference passcode 4060996.  A replay of the audio webcast will be archived on the Investor Relations section of the Company’s website for approximately 30 days.

About Academy
Academy is one of the leading full-line sporting goods and outdoor recreation retailers in the United States.  Originally founded in 1938 as a family business in Texas, Academy has grown to 259 stores across 16 contiguous states, primarily in the southern United States.  Academy’s mission is to provide “Fun for All” and Academy fulfills this mission with a localized merchandising strategy and value proposition that strongly connects with a broad range of consumers.  Academy’s product assortment focuses on key categories of outdoor, apparel, footwear and sports & recreation through both leading national brands and a portfolio of 17 private label brands, which go well beyond traditional sporting goods and apparel offerings.

View original content to download multimedia:http://www.prnewswire.com/news-releases/academy-sports–outdoors-announces-reporting-date-for-third-quarter-2020-financial-results-301179364.html

SOURCE Academy Sports + Outdoors

ROCKVILLE, Md., Nov. 24, 2020 /PRNewswire/ — Synthetic Biologics, Inc. (NYSE American: SYN), a diversified clinical-stage company leveraging the microbiome to develop therapeutics designed to prevent and treat gastrointestinal (GI) diseases in areas of high unmet need, today announced that on November 23, 2020, the NYSE American LLC (“NYSE American”), the Company’s current listing exchange, notified the Company that it had been granted an extension until May 25, 2021 to regain compliance with certain continued listing standards as set forth in Sections 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide.  

The Company previously presented its plan of compliance to the NYSE American on December 19, 2019 in response to a notice dated November 25, 2019 that the Company was below compliance with certain NYSE American continued listing standards, as set forth in Section 1003(a)(iii) of the NYSE American Company Guide, since it reported stockholder’s equity of $6 million or less as of September 30, 2019 and losses from continuing operations and/or net losses in five of its most recent fiscal years. On February 7, 2020 the NYSE American notified the Company that it accepted the Company’s plan to regain compliance before November 25, 2020, the end of the compliance plan period. This date has now been extended to May 25, 2021. The Company will remain subject to periodic review by NYSE American staff during the extension period. Failure to make progress consistent with the plan or regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the NYSE American.

About Synthetic Biologics, Inc.
Synthetic Biologics, Inc. (NYSE American: SYN) is a diversified clinical-stage company leveraging the microbiome to develop therapeutics designed to prevent and treat gastrointestinal (GI) diseases in areas of high unmet need. The Company’s lead candidates are: (1) SYN-004 (ribaxamase) which is designed to degrade certain commonly used intravenous (IV) beta-lactam antibiotics within the gastrointestinal (GI) tract to prevent (a) microbiome damage, (b) Clostridioidesdifficile infection (CDI), (c) overgrowth of pathogenic organisms, (d) the emergence of antimicrobial resistance (AMR) and (e) acute graft-versus-host-disease (aGVHD) in allogeneic hematopoietic cell transplant (HCT) recipients, and (2) SYN-020, a recombinant oral formulation of the enzyme intestinal alkaline phosphatase (IAP) produced under cGMP conditions and intended to treat both local GI and systemic diseases. For more information, please visit Synthetic Biologics’ website at www.syntheticbiologics.com.     

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, and include statements regarding plans to regain compliance with the continued listing standards by the end of the extension period. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the  ability to regain compliance with the continued listing standards by the end of the extension period, the  ability to engage in a potential acquisition, merger, reverse merger, other business combination, sales of assets, licensing or other strategic transactions involving the Company, ability to obtain FDA clearance of the IND for the SYN-020 program, a failure of additional pre-clinical studies of SYN-020 to achieve similar results to those previously achieved or to provide support for exercise of the option, the ability to enter into a license to advance an expanded clinical development program for SYN-020, a failure to receive the necessary regulatory approvals for commercialization of Synthetic Biologics’ therapeutics, a failure of Synthetic Biologics’ clinical trials, and those conducted by investigators, for SYN-004 and SYN-010 to be commenced or completed on time or to achieve desired results and benefits, especially in light of COVID-19, a failure of Synthetic Biologics’ clinical trials to continue enrollment as expected or receive anticipated funding, a failure of Synthetic Biologics to successfully develop, market or sell its products, Synthetic Biologics’ inability to maintain its material licensing agreements, or a failure by Synthetic Biologics or its strategic partners to successfully commercialize products and other factors described in Synthetic Biologics’ Annual Report on Form 10-K for the year ended December 31, 2019 and its other filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and Synthetic Biologics undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

View original content to download multimedia:http://www.prnewswire.com/news-releases/synthetic-biologics-announces-extension-of-compliance-plan-period-by-nyse-american-301179348.html

SOURCE Synthetic Biologics, Inc.

ORRVILLE, Ohio, Nov. 24, 2020 /PRNewswire/ — The J.M. Smucker Co. (NYSE: SJM) today announced results for the second quarter ended October 31, 2020, of its 2021 fiscal year. All comparisons are to the second quarter of the prior fiscal year, unless otherwise noted.

EXECUTIVE SUMMARY

• Net sales increased $76.2 million, or 4 percent, primarily reflecting growth in the Company’s U.S. Retail Consumer Foods and U.S. Retail Coffee segments, partially offset by a decline in its Away From Home business.
• Net income per diluted share was $2.02. Adjusted earnings per share was $2.39, an increase of 6 percent.
• Cash from operations was $378.7 million, an increase of 69 percent. Free cash flow was $326.3 million, compared to $160.6 million in the prior year.
• The Company increased its full-year fiscal 2021 net sales, adjusted earnings per share, and free cash flow outlook.

CHIEF EXECUTIVE OFFICER REMARKS

“In the second quarter, we focused on meeting the demands created by the current environment, while continuing to execute our long-term strategy to deliver sustainable growth,” said Mark Smucker, President and Chief Executive Officer. “Our U.S. Retail Consumer Foods and U.S. Retail Coffee businesses experienced strong sales momentum from elevated at-home consumption trends and grew market share. I want to thank our employees for their ongoing hard work and dedication to provide our customers, consumers, and their pets with a steady food supply from trusted and iconic brands.”

“We are pleased to raise our full-year financial guidance, while making additional investments in our brands to support their momentum. I am confident that we are strengthening our foundation to deliver both our short-term and long-term financial objectives and increase shareholder value.”

SECOND QUARTER CONSOLIDATED RESULTS

Net Sales

Net sales increased 4 percent, primarily due to favorable volume/mix for the Company’s U.S. Retail Coffee and U.S. Retail Consumer Foods segments, reflecting elevated at-home consumption, partially offset by reduced volume/mix for its Away From Home operating segment. Net price realization and foreign currency exchange were neutral.

Operating Income

Gross profit increased $64.2 million, or 9 percent, primarily due to a favorable change in unallocated derivative gains and losses as compared to the prior year and the increased contribution from volume/mix. Operating income increased $51.0 million, or 15 percent, primarily reflecting the increase in gross profit, partially offset by a $21.3 million increase in selling, distribution, and administrative (“SD&A”) expenses.

Adjusted gross profit increased $33.6 million, or 4 percent, with the difference from generally accepted accounting principles (“GAAP”) results being the exclusion of unallocated derivative gains and losses. Adjusted operating income increased $17.8 million, or 5 percent, further reflecting the exclusion of other special project costs and amortization.

Interest Expense, Other Income (Expense), and Income Taxes

Net interest expense decreased $4.0 million, primarily as a result of a decrease in interest rates and reduced debt outstanding, partially offset by interest expense related to interest rate contracts terminated in the fourth quarter of the prior year.

Net other expense increased $30.6 million, reflecting pension settlement charges, including a noncash pre-tax settlement charge of $27.9 million related to the Company’s Canadian defined benefit pension plan, which is excluded from adjusted net income.

The effective income tax rate was 24.0 percent compared to 24.3 percent in the prior year.

Cash Flow and Debt

Cash provided by operating activities was $378.7 million, compared to $224.0 million in the prior year, primarily reflecting a decrease in cash required to fund working capital and an increase in net income adjusted for noncash items. Free cash flow was $326.3 million, compared to $160.6 million in the prior year, reflecting the increase in cash provided by operating activities and an $11.0 million decrease in capital expenditures. Net debt repayments in the quarter totaled $216.1 million.

FULL-YEAR OUTLOOK

The outbreak of COVID-19 continues to impact financial results and cause uncertainty for the full-year fiscal 2021 outlook. Changes in consumer purchasing behavior, retailer inventory levels, macroeconomic conditions, and any manufacturing or supply chain disruption could materially impact actual results. This guidance reflects expectations based on the Company’s current performance and understanding of the overall environment. 

Net sales are expected to increase 1 to 2 percent compared to the prior year, primarily reflecting elevated at-home consumption benefiting the U.S. Retail Coffee and U.S. Retail Consumer Foods segments. Net sales guidance also reflects a decline for the Company’s Away From Home business and the lapping of a $185 million incremental benefit to net sales related to COVID-19 in the fourth quarter of the prior year.

Adjusted earnings per share is expected to range from $8.55 to $8.85, based on 114.1 million shares outstanding. Earnings guidance reflects the contribution from sales at a gross profit margin range of 37.5 to 38.0 percent, SD&A expenses to increase 1 to 2 percent compared to the prior year, and an effective tax rate of 24.0 percent. Free cash flow is expected to range from $975 million to $1,025 million with capital expenditures of $315 million.

The full-year fiscal 2021 guidance does not reflect any impact related to the Company’s previously announced agreement to divest the Crisco^® oils and shortening business. The Company expects the transaction to close during the third quarter of the current fiscal year and estimates the fiscal 2021 net sales impact to be approximately $100 million and adjusted earnings per share impact to be approximately $0.20, excluding any potential benefit from the use of proceeds from the sale.

SECOND QUARTER SEGMENT RESULTS

U.S. Retail Pet Foods

Net sales decreased $1.2 million, reflecting a 1 percentage point impact from lower net pricing, mostly offset by a 1 percentage point increase from volume/mix. The contribution from volume/mix primarily reflects growth for cat food and dog snacks driven by Meow Mix^® and private label cat food, as well as Pup-Peroni^® and Milk-Bone^® dog snacks. These gains were partially offset by reduced volume/mix for dog food, mostly driven by private label and the Natural Balance^® brand.

Segment profit decreased $12.1 million, primarily due to the impact of lower net pricing and higher marketing expense.

U.S. Retail Coffee

Net sales grew $51.3 million, reflecting a 10 percentage point increase from volume/mix. Favorable volume/mix was driven by the Dunkin’™, Café Bustelo^®, and Folgers^® brands, reflecting elevated at-home coffee consumption. Net price realization reduced net sales by 1 percentage point.

Segment profit increased $19.6 million, reflecting the favorable volume/mix and lower SD&A expenses, partially offset by the impact of net pricing and costs.

U.S. Retail Consumer Foods

Net sales increased $53.0 million, reflecting a 7 percentage point increase from volume/mix, primarily driven by elevated at-home consumption for Smucker’s^® Uncrustables^® frozen sandwiches, Crisco^® oils and shortening, and Jif^® peanut butter. Higher net pricing increased net sales by 5 percentage points, reflecting the impact of a peanut butter list price increase taken in the second quarter and reduced promotional activity for the Jif^® brand.

Segment profit increased $43.9 million, reflecting the favorable impact of net pricing and costs, the increased contribution from volume/mix, and lower SD&A expenses.

International and Away From Home

Net sales decreased $26.9 million, primarily reflecting a 24 percent decline for the Company’s Away From Home operating segment, partially offset by net sales growth of 7 percent for the International operating segment. Volume/mix for the combined businesses reduced net sales by 11 percentage points, primarily driven by coffee and portion control products. Net price realization contributed a 1 percentage point increase and foreign currency exchange was neutral.

Segment profit decreased $10.9 million, reflecting the decline from volume/mix and the impact of higher net pricing and costs, partially offset by reduced SD&A expenses.

Conference Call

The Company will conduct an earnings conference call and webcast today, November 24, 2020, beginning at 8:30 a.m. Eastern time. Speaking on the call will be Mark Smucker, President and Chief Executive Officer and Tucker Marshall, Chief Financial Officer. To access the webcast, please visit investors.jmsmucker.com.

The J.M. Smucker Co. Forward-Looking Statements

This press release contains forward-looking statements, such as projected net sales, operating results, earnings, and cash flows that are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by those forward-looking statements. The risks, uncertainties, important factors, and assumptions listed and discussed in this press release, which could cause actual results to differ materially from those expressed, include: the ability to successfully complete the divestiture of the oils and shortening business in a timely and cost-effective manner; the impact of the COVID-19 pandemic on the Company’s business, industry, suppliers, customers, consumers, employees, and communities, particularly with respect to the Company’s Away From Home business; disruptions or inefficiencies in the Company’s operations or supply chain, including any impact of the COVID-19 pandemic; the ability to achieve cost savings related to cost management programs in the amounts and within the time frames currently anticipated; the ability to generate sufficient cash flow to continue operating under the Company’s capital deployment model, including capital expenditures, debt repayment, dividend payments, and share repurchases; volatility of commodity, energy, and other input costs; risks associated with derivative and purchasing strategies the Company employs to manage commodity pricing and interest rate risks; the availability of reliable transportation on acceptable terms, including any impact of the COVID-19 pandemic; the ability to implement and realize the full benefit of price changes, and the impact of the timing of the price changes to profits and cash flow in a particular period; the success and cost of marketing and sales programs and strategies intended to promote growth in the Company’s businesses, including product innovation; general competitive activity in the market, including competitors’ pricing practices and promotional spending levels; the impact of food security concerns involving either the Company’s products or its competitors’ products; the impact of accidents, extreme weather, natural disasters, and pandemics (such as COVID-19); the concentration of certain of the Company’s businesses with key customers and suppliers, including single-source suppliers of certain key raw materials and finished goods, and the Company’s ability to manage and maintain key relationships; impairments in the carrying value of goodwill, other intangible assets, or other long-lived assets or changes in useful lives of other intangible assets or other long-lived assets; the impact of new or changes to existing governmental laws and regulations and their application, including tariffs; the outcome of tax examinations, changes in tax laws, and other tax matters; foreign currency exchange rate and interest rate fluctuations; and risks related to other factors described under “Risk Factors” in other reports and statements filed with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K. The Company undertakes no obligation to update or revise these forward-looking statements, which speak only as of the date made, to reflect new events or circumstances.

About The J.M. Smucker Co.

Each generation of consumers leaves their mark on culture by establishing new expectations for food and the companies that make it. It is our privilege to be at the heart of this dynamic with a portfolio that appeals to each generation of people and pets and is found in 90 percent of U.S. homes and countless restaurants. This includes a mix of iconic brands consumers have always loved such as Folgers^®, Jif^®, and Milk-Bone^® and new favorites like Café Bustelo^®, Smucker’s^® Uncrustables^®, and Rachael Ray^® Nutrish^®. By continuing to immerse ourselves in consumer and pet parent preferences for food, how it’s purchased, and how the companies that make it should operate, we will maintain the important role we play in their lives. This will allow us to continue growing our business and the positive impact we have on all of those who count on us. For more information, please visit jmsmucker.com.

The J.M. Smucker Co. is the owner of all trademarks referenced herein, except for the following, which are used under license: Dunkin’™ is a trademark of DD IP Holder LLC, and Rachael Ray^® is a registered trademark of Ray Marks II LLC.

The Dunkin’™ brand is licensed to The J.M. Smucker Co. for packaged coffee products sold in retail channels such as grocery stores, mass merchandisers, club stores, e-commerce, and drug stores. This information does not pertain to products for sale in Dunkin’™ restaurants.

 

 

 

 

 

Non-GAAP Financial Measures

The Company uses non-GAAP financial measures, including: net sales excluding foreign currency exchange; adjusted gross profit; adjusted operating income; adjusted income; adjusted earnings per share; earnings before interest, taxes, depreciation, amortization, and impairment charges related to intangible assets (“EBITDA (as adjusted)”); and free cash flow, as key measures for purposes of evaluating performance internally. The Company believes that investors’ understanding of its performance is enhanced by disclosing these performance measures. Furthermore, these non-GAAP financial measures are used by management in preparation of the annual budget and for the monthly analyses of its operating results. The Board of Directors also utilizes certain non-GAAP financial measures as components for measuring performance for incentive compensation purposes.

Non-GAAP measures exclude certain items affecting comparability that can significantly affect the year-over-year assessment of operating results, which include amortization expense and impairment charges related to intangible assets; divestiture, acquisition, integration, and restructuring costs (“special project costs”); gains and losses related to the sale of a business; unallocated gains and losses on commodity and foreign currency exchange derivatives (“unallocated derivative gains and losses”); and other one-time items that do not directly reflect ongoing operating results. Income taxes, as adjusted is calculated using an adjusted effective income tax rate that is applied to adjusted income before income taxes and reflects the exclusion of the previously discussed items, as well as any adjustments for one-time tax-related activities, when they occur. While this adjusted effective income tax rate does not generally differ materially from the GAAP effective income tax rate, certain exclusions from non-GAAP results can significantly impact the adjusted effective income tax rate.

These non-GAAP financial measures are not intended to replace the presentation of financial results in accordance with U.S. GAAP. Rather, the presentation of these non-GAAP financial measures supplements other metrics used by management to internally evaluate its businesses and facilitates the comparison of past and present operations and liquidity. These non-GAAP financial measures may not be comparable to similar measures used by other companies and may exclude certain nondiscretionary expenses and cash payments. A reconciliation of certain non-GAAP financial measures to the comparable GAAP financial measure for the current and prior year periods is included in the “Unaudited Non-GAAP Financial Measures” tables. The Company has also provided a reconciliation of non-GAAP financial measures for its fiscal 2021 outlook.

 

 

The following tables provide a reconciliation of the Company’s fiscal 2021 guidance for estimated adjusted earnings per share and free cash flow.

 

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/the-jm-smucker-co-announces-fiscal-2021-second-quarter-results-301179660.html

SOURCE The J.M. Smucker Co.

NORTH CANTON, Ohio, Nov. 24, 2020 /PRNewswire/ — The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products, will participate in the Melius Research Virtual Industrial Tech & Aerospace Forum on Dec. 9, 2020. Participating on behalf of Timken will be Philip D. Fracassa, executive vice president and chief financial officer. Materials shared during the conference will be available online at http://investors.timken.com.

About The Timken Company

The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.8 billion in sales in 2019 and employs more than 17,000 people globally, operating from 42 countries.

Media Relations:

Scott Schroeder

234.262.6420
[email protected]

Investor Relations:

Neil Frohnapple

234.262.2310
[email protected]

View original content to download multimedia:http://www.prnewswire.com/news-releases/timken-to-participate-in-the-melius-research-virtual-industrial-tech–aerospace-forum-301179272.html

SOURCE The Timken Company

LAVAL, Quebec, Nov. 24, 2020 /PRNewswire/ — Bausch Health Companies Inc. (NYSE/TSX: BHC) (“Bausch Health” or the “Company”) and Bausch + Lomb, its leading global eye health business, announced today that the Company has initiated the second of two Phase 3 studies evaluating the investigational treatment NOV03 (perfluorohexyloctane) as a first-in-class investigational drug with a novel mechanism of action to treat the signs and symptoms of Dry Eye Disease (DED) associated with Meibomian gland dysfunction (MGD). Enrollment of the first Phase 3 study is currently underway and has reached 85% of its enrollment goal.

NOV03 is an investigational, proprietary, water-free and preservative-free solution, based on patented EyeSol® technology from Novaliq GmbH¹. DED is a chronic and serious disease of the ocular surface². In a Phase 2 study of 336 patients, NOV03 met its primary efficacy endpoint of statistically significant improvement of total corneal fluorescein staining over control at eight weeks. In addition, NOV03 showed statistically significant improvement of certain symptoms, such as severity and frequency of dryness and burning/stinging of the eyes, over the entire duration of the Phase 2 study with no notable safety events.

“Bausch + Lomb, our global eye health business, is focused on researching and bringing forward new options for unmet medical needs, including Dry Eye Disease associated with MGD. It’s estimated that more than 16 million Americans suffer from Dry Eye Disease³, and if approved, NOV03 may be the first pharmaceutical therapy available for U.S. patients who have Dry Eye Disease associated with MGD,” said Joseph C. Papa, chairman and CEO of Bausch Health.

About Bausch + Lomb
Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., is solely focused on helping people see. Its core businesses include over-the-counter products, dietary supplements, eye care products, ophthalmic pharmaceuticals, contact lenses, lens care products, ophthalmic surgical devices and instruments. Bausch + Lomb develops, manufactures and markets one of the most comprehensive product portfolios in the industry, which is available in approximately more than 100 countries. For more information, visit www.bausch.com.

About Bausch Health 
Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global company whose mission is to improve people’s lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

Forward-looking Statements
This news release may contain forward-looking statements, which may generally be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Bausch Health’s most recent annual report on Form 10-K and detailed from time to time in Bausch Health’s other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

© 2020 Bausch & Lomb Incorporated or its affiliates.

---

¹ In December 2019, Bausch Health acquired the rights from Novaliq GmbH to pursue development and commercialization of NOV03 for DED and combination products based on NOV03 in additional ophthalmic indications in the United States and Canada.

² Lemp et al. Distribution of Aqueous-Deficient and Evaporative Dry Eye in a Clinic-Based Patient Cohort: A Retrospective Study. Cornea. 2012;31:472–478.

³ Farrand et al. Prevalence of Diagnosed Dry Eye Disease in the United States Among Adults Aged 18 Years and Older. Am J Ophthalmol 2017; 182:90–98.

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/bausch-health-initiates-second-phase-3-study-for-nov03-investigational-treatment-for-dry-eye-disease-associated-with-meibomian-gland-dysfunction-301179260.html

SOURCE Bausch Health Companies Inc.

SOUTH SAN FRANCISCO, Calif., Nov. 24, 2020 /PRNewswire/ — Sutro Biopharma, Inc. (NASDAQ: STRO), a clinical-stage drug discovery, development and manufacturing company focused on the application of precise protein engineering and rational design to create next-generation cancer and autoimmune therapeutics,  announced today that it will host a live webcast event to provide a clinical update from the company’s ongoing dose escalation Phase 1 study of STRO-002, a folate receptor alpha (FolRα) targeting antibody-drug conjugate (ADC), for patients with ovarian cancer. The results presented will follow-up on previously presented data, based on a new data cut-off date of Oct. 30, 2020. The company will also give an update on the program expansion cohorts in ovarian and endometrial cancer. The virtual KOL Discussion of STRO-002 Data will be held on Thursday, Dec. 3, 2020, at 5pm ET / 2pm PT.

The data will be presented and discussed by Principal Investigators from two STRO-002 clinical trial sites:

• Lainie P. Martin, M.D. – Leader, Gynecology/Oncology Program and Associate Professor of Medicine at Hospital of the University of Pennsylvania; Dr. Martin is also a member of Sutro’s Clinical Advisory Board

• R. Wendel Naumann, M.D. – Professor & Director of Gynecologic Oncology Research and Associate Medical Director of Clinical Trials at Levine Cancer Institute – Atrium Health in Charlotte, North Carolina; Dr. Naumann is also a member of Sutro’s Clinical Advisory Board

To register and access the Zoom link for this event click here or email Annie Chang at [email protected].

An archived recording of the event will be available through the Company Presentation page of the Investor section of the company’s website at http://www.sutrobio.com for approximately 30 days.

About the Phase 1 Trial of STRO-002 in Ovarian Cancer
STRO-002-GM1, the Phase 1 open-label, multicenter, dose escalation trial with dose expansion of STRO-002, has completed enrollment. Follow-up is ongoing and will continue to evaluate the safety, tolerability, and preliminary anti-tumor activity of STRO-002 in adults with advanced epithelial ovarian cancer, including fallopian and primary peritoneal cancer. The trial is registered with clinicaltrials.gov identifier NCT03748186. Sutro discovered, developed and manufactures STRO-002 using its proprietary XpressCF® cell-free protein synthesis and XpressCF+™ site-specific conjugation technologies.

About Sutro Biopharma
Sutro Biopharma, Inc., located in South San Francisco, is a clinical-stage drug discovery, development and manufacturing company. Using precise protein engineering and rational design, Sutro is advancing next-generation oncology therapeutics.

Sutro’s proprietary and integrated cell-free protein synthesis platform XpressCF® and site-specific conjugation platform XpressCF+™ led to the discovery of STRO-001 and STRO-002, Sutro’s first two internally-developed ADCs. STRO-001 is a CD74-targeting ADC currently being investigated in a Phase 1 clinical trial of patients with advanced B-cell malignancies, including multiple myeloma and non-Hodgkin lymphoma. STRO-001 was granted Orphan Drug Designation by the FDA for multiple myeloma in October 2018. STRO-002 is a folate receptor alpha (FolRα)-targeting ADC, currently being investigated in a Phase 1 clinical trial of patients with ovarian and endometrial cancers. This is the second product candidate to be evaluated in clinical trials resulting from Sutro’s XpressCF® and XpressCF+™ technology platforms. A third program, CC-99712 (BCMA-targeting ADC), which is part of Sutro’s collaboration with Bristol Myers Squibb (formerly Celgene Corporation), is enrolling patients for its Phase 1 clinical trial of patients with multiple myeloma. Sutro’s proprietary technology was responsible for the discovery and manufacturing of CC-99712, for which Bristol Myers Squibb has worldwide development and commercialization rights. Sutro is entitled to development and regulatory milestone payments and tiered royalties from Bristol Myers Squibb for this BCMA ADC. Sutro is dedicated to transforming the lives of cancer patients by creating medicines with improved therapeutic profiles for areas of unmet need.

To date, Sutro’s platform has led to cytokine-based immuno-oncology therapies, ADCs, vaccines and bispecific antibodies directed at precedented targets in clinical indications where the current standard of care is suboptimal. The platform allows it to accelerate discovery and development of potential first-in-class and best-in-class molecules through rapid and systematic evaluation of protein structure-activity relationships to create optimized homogeneous product candidates.

In addition to developing its own oncology pipeline, Sutro is collaborating with select pharmaceutical and biotech companies to discover and develop novel, next-generation therapeutics. As the pace of clinical development accelerates, Sutro and its partners are developing therapeutics designed to more efficiently kill tumors without harming healthy cells.

Additional multimedia content from Sutro regarding STRO-001 and STRO-002 can be found here and here.

Follow Sutro on Twitter, @Sutrobio, and at www.sutrobio.com to learn more about our passion for changing the future of oncology.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, anticipated preclinical and clinical development activities, timing of clinical trials and announcements of clinical results, potential benefits of the company’s product candidates and platform and potential market opportunities for the company’s product candidates. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, the company cannot guarantee future events, results, actions, levels of activity, performance or achievements, and the timing and results of biotechnology development and potential regulatory approval is inherently uncertain. Forward-looking statements are subject to risks and uncertainties that may cause the company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the company’s ability to advance its product candidates, the receipt and timing of potential regulatory designations, approvals and commercialization of product candidates, the impact of the COVID-19 pandemic on the Company’s business, clinical trial sites, supply chain and manufacturing facilities, the Company’s ability to maintain and recognize the benefits of certain designations received by product candidates, the timing and results of preclinical studies and clinical trials, the company’s ability to fund development activities and achieve development goals, the company’s ability to protect intellectual property, and the Company’s commercial collaborations with third parties and other risks and uncertainties described under the heading “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

Investor Contact

Annie Chan

Sutro Biopharma
650-255-8806
[email protected]

Media Contacts

David Schull

Russo Partners
(212) 845-4271
[email protected] 

 

View original content:http://www.prnewswire.com/news-releases/sutro-biopharma-to-host-a-virtual-kol-event-to-provide-clinical-update-on-antibody-drug-conjugate-stro-002-in-ovarian-cancer-301179245.html

SOURCE Sutro Biopharma

SHANGHAI, Nov. 24, 2020 /PRNewswire/ — Dana Incorporated (NYSE: DAN) today introduced track drives now manufactured in China for a wide range of tracked construction equipment.

Featuring Spicer Torque-Hub™ drives with output torque ratings from 10 kNm to 130 kNm, the integrated packages are engineered to maximize the performance of diesel- and electric-driven construction equipment ranging from compact track loaders up to mid-sized crawler cranes.

The track drives are manufactured locally in Yancheng, China, reducing the supply times to original-equipment manufacturers and helping them accelerate the production of equipment for domestic and global distribution. 

At Bauma China this week, Dana is showcasing a new system for 80- to 90-tonne (88- to 99-ton) crawler cranes that includes Spicer Torque-Hub RCT Series track drives as well as high-performance Brevini™ pumps and motors.

“As China’s construction market continues to grow, the demand for tracked equipment is increasing, and Dana is ready today with drive and motion systems produced locally to maximize the efficiency and durability of tracked applications,” said Aziz Aghili, executive vice president and president of Dana Off-Highway Drive and Motion Systems.

High-Performing Drive and Motion Systems for Cranes

In addition to the new track drives being produced in China, Dana currently offers a wide selection of drive and motion technologies for crawler cranes and rough-terrain cranes.

With flexible packaging and gear ratios that meet manufacturers’ preferences for both tracked and wheeled applications, Spicer Torque-Hub drives can be packaged with Brevini hydraulic pumps and motors to offer an optimized solution for crawler cranes that delivers superior power density, increased torque and efficiency at start-up, and smooth starts and stops.

For rough-terrain cranes, Dana engineers and manufactures advanced Spicer^® transmissions, heavy-duty steer axles, and driveshafts that are fully customizable with additional features and configuration options to achieve the highest levels of fuel efficiency and productivity.

Dana also manufactures high-performance Brevini^™ winches for cranes and other heavy-duty applications with lift capacities from 990 kg to 30 tonnes (1.1 tons to 33 tons).  Each winch in the series features a compact, high-speed piston motor for efficient operation.

Additionally, Dana supports the work functions of cranes with a wide selection of Brevini^™ slew drives, hydraulic pumps and motors, and proportional directional valves.

Power-Dense Performance for Compact Track Loaders

Dana’s drive systems for compact track loaders feature a two-stage Spicer Torque-Hub track drive and two-speed hydraulic motor packaged together to provide superior torque, maneuverability, and travel speeds.  The company also supplies axial piston pumps as well as hydraulic gear pumps and motors for compact track loaders.

Dana is presenting its full range of drive and motion systems for the construction market this week at Bauma China in hall N5, stand N5.530.

About Dana Incorporated

Dana is a world leader in providing power-conveyance and energy-management solutions that are engineered to improve the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment.  Enabling the propulsion of conventional, hybrid, and electric-powered vehicles, Dana equips its customers with critical drive and motion systems; electrodynamic technologies; and thermal, sealing, and digital solutions.

Based in Maumee, Ohio, USA, the company reported sales of $8.6 billion in 2019 with 36,000 associates in 34 countries across six continents.  Founded in 1904, Dana has a high-performance culture that focuses on its people and has earned recognition by Forbes magazine as a World’s Best Employer.  Learn more at dana.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/dana-launches-production-of-new-track-drives-for-construction-equipment-in-china-301178952.html

SOURCE Dana Incorporated

SHANGHAI, Nov. 24, 2020 /PRNewswire/ — Dana Incorporated (NYSE: DAN) today announced the introduction of comprehensive drive systems specifically tailored for electric-driven mobile elevated work platforms (MEWPs) manufactured in China.  The solutions extend Dana’s wide range of drive and motion systems that can be sourced locally through a single Tier I supplier.

At Bauma China this week, Dana is launching an integrated system for electric-driven boom and scissor lifts with working heights above six meters.  It improves safety, productivity, efficiency, operator comfort, and reliability while reducing total cost of ownership as well as the impact on the environment.  The complete package from Dana features Spicer Torque-Hub™ wheel drives, low-voltage internal permanent magnet motors, inverters, slew drives, pump-motor, system pumps, proportional valves, and electronic control units.

Dana offers advanced drive and motion products for a wide range of MEWP designs, including scissor lifts, vertical mast lifts, articulating and telescopic boom lifts, crawler lifts, and truck-mounted lifts.

“Dana’s electrification portfolio for versatile, high-performance work platforms is driving efficiencies across the Chinese construction market,” said Aziz Aghili, executive vice president and president of Dana Off-Highway Drive and Motion Systems.  “Our strong and growing presence in China ideally positions Dana to support equipment manufacturers in the region with advanced, integrated drive and motion electrification technologies.”

Advanced, Worksite-Proven Technologies for MEWPs

Used by leading global manufacturers of MEWPs for more than two decades, the Spicer Torque-Hub brand of wheel and track drives features a compact planetary design that is ideal for both diesel- and electric-powered equipment.

Dana’s e-Hub drives for MEWPs feature a fully integrated electro-mechanical configuration in a compact package that includes enhanced gear geometries for quieter operation.  Meanwhile, its power-dense motor design delivers high efficiency and best-in-class torque performance.

Dana also designs and manufactures a broad range of Brevini™ motion products to help original-equipment manufacturers (OEM) comply with platform design, load sensing, dynamic terrain sensing, safety requirements, and other global safety standards for MEWPs.

Additionally, Dana leverages vehicle data to improve performance and reduce total cost of ownership through its Spicer Smart Suite™ Intelligent Load Monitoring System (ILMS).  Spicer Smart Suite ILMS uses patented and proprietary data-harvesting technologies across the vehicle to prevent tip-over incidents, supply intelligent calibration management, and estimate axle attitude.  It is designed to alert the operator of potential tipping situations, reduce the risk of vehicle breakdowns, improve productivity, and enhance the long-term serviceability of drive systems.

Dana has been working with MEWP players in China, such as Aichi, Dingli, Genie, Haulotte, JLG, LGMG, Sinoboom, Sunward, XCMG, and Zoomlion, among others.

Dana’s Large Footprint in China

Since establishing operations in China in 1991, Dana has steadily bolstered its capabilities to support vehicle manufacturers in the region through numerous investments in engineering and manufacturing resources. 

In August, Dana inaugurated a new 16,000 square-meter manufacturing and assembly plant in Yancheng, China, to expand the production of highly specialized hub drives, planetary drives, helical and bevel helical gearboxes, and hydrostatic solutions.  When fully operational, it will produce approximately 160,000 units per year for OEMs in the construction, agriculture, and industrial markets. 

With 24 facilities and approximately 5,700 employees in China at its wholly owned and joint-venture operations, Dana serves numerous off-highway manufacturers in China, including AGCO, CRCC, CRCHI, CREG, Dingli, Epiroc, JLG, John Deere, SANY, Terex, XCMG, and Zoomlion.

Visit Dana at Bauma China this week in hall N5, stand N5.530.

About Dana Incorporated

Dana is a world leader in providing power-conveyance and energy-management solutions that are engineered to improve the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment.  Enabling the propulsion of conventional, hybrid, and electric-powered vehicles, Dana equips its customers with critical drive and motion systems; electrodynamic technologies; and thermal, sealing, and digital solutions.

Based in Maumee, Ohio, USA, the company reported sales of $8.6 billion in 2019 with 36,000 associates in 34 countries across six continents.  Founded in 1904, Dana has a high-performance culture that focuses on its people and has earned recognition by Forbes magazine as a World’s Best Employer.  Learn more at dana.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/dana-expands-presence-electrification-portfolio-for-mobile-elevated-work-platforms-in-china-301178983.html

SOURCE Dana Incorporated

SHANGHAI, Nov. 24, 2020 /PRNewswire/ — Dana Incorporated (NYSE: DAN) today provided details on numerous awards recently presented to the company by leading Chinese equipment manufacturers and industry organizations.

“We are deeply committed to delivering exceptional support to our customers in the Chinese construction market through our advanced drive and motion systems, high-performance culture, and growing local capabilities,” said Aziz Aghili, executive vice president and president of Dana Off-Highway Drive and Motion Systems. “These awards provide tremendous validation for our strategy, and they galvanize our resolve to continue improving our offerings.”

Recognition from Leading Manufacturers in China
Dana has earned several supplier awards from Chinese original-equipment manufacturers based on its close collaboration in engineering and testing, high-quality production, successful integration with customer supply chains, and responsive aftermarket service.  The recognitions include:

• AGCO China’s “Above and Beyond Champion” which is given to service providers that exceed the company’s expectations for innovation, service, global growth, and cost efficiency;
• LGMG’s “Best Strategic Partner” award, the company’s highest award for suppliers;
• SANY’s “Excellent Supplier Award 2020,” presented by the crane division to Dana’s manufacturing operations in both China and Belgium for outstanding performance on product quality, delivery, and services;
• SANY’s “Production Guarantee Star,” awarded by its intelligent manufacturing technology group;
• Sunward’s “2020 Silver Supplier” distinction, which recognizes Dana’s Service and Assembly Center in Shanghai; and
• Zoomlion’s “Excellent Supplier” award.

Elite Honors at T50 Summit
This week, Dana received two awards from the organizers of the T50 Summit of the World Construction Machinery Industry, an annual meeting of leading Chinese and global construction equipment manufacturers. 

The Spicer^® HVT2 hydromechanical variable transmission was honored with the “Top 50 Best Application Award,” while Dana’s Marcus King was recognized as one of the T50 Summit’s “Managers of the Year.” 

Spicer HVTs significantly reduce fuel consumption by decreasing engine speeds throughout the duty cycle and also at idle, when speeds can drop to as low as 600 rpm.  Application analysis demonstrates the possibility of further savings without compromising performance through engine downsizing.

In production since 2015, the Spicer HVT2 is engineered for reach stackers, motor graders, empty container handlers, reach stackers, and other material-handling applications.

King is vice president of Dana off-highway global sales, business development, strategy, and program management, and he is the leader of all Dana business units in China.

Visit Dana at Bauma China this week in hall N5, stand N5.530.

About Dana Incorporated
Dana is a world leader in providing power-conveyance and energy-management solutions that are engineered to improve the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment.  Enabling the propulsion of conventional, hybrid, and electric-powered vehicles, Dana equips its customers with critical drive and motion systems; electrodynamic technologies; and thermal, sealing, and digital solutions.

Based in Maumee, Ohio, USA, the company reported sales of $8.6 billion in 2019 with 36,000 associates in 34 countries across six continents.  Founded in 1904, Dana has a high-performance culture that focuses on its people and has earned recognition by Forbes magazine as a World’s Best Employer.  Learn more at dana.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/dana-recognized-for-superior-support-to-construction-industry-in-china-301179216.html

SOURCE Dana Incorporated