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DALLAS, Nov. 23, 2020 /PRNewswire/ — Ashford Hospitality Trust, Inc. (NYSE: AHT) (“Ashford Trust” or the “Company”) today announced final results of its previously commenced offers to exchange (each an “Exchange Offer” and collectively the “Exchange Offers”) any and all shares of the Company’s 8.45% Series D Cumulative Preferred Stock, par value $0.01 per share (the “Series D Preferred Stock”), 7.375% Series F Cumulative Preferred Stock, par value $0.01 per share (the “Series F Preferred Stock”), 7.375% Series G Cumulative Preferred Stock, par value $0.01 per share (the “Series G Preferred Stock”), 7.50% Series H Cumulative Preferred Stock, par value $0.01 per share (the “Series H Preferred Stock”) and 7.50% Series I Cumulative Preferred Stock, par value $0.01 per share (the “Series I Preferred Stock”, and together with the Series D Preferred Stock, the Series F Preferred Stock, the Series G Preferred Stock and the Series H Preferred Stock, the “Preferred Stock”) for newly issued shares of the Company’s common stock, par value $0.01 (the “Common Stock”). The Exchange Offers expired at 5:00 p.m., New York City time, on November 20, 2020 (the “Expiration Date”).

Exchange Offer Results

Computershare Trust Company, N.A., the exchange agent for the Exchange Offers, has advised the Company that as of the Expiration Date, approximately 30% of the shares of Preferred Stock eligible for exchange were tendered, broken out as follows:

• 575,382 shares of Series D Preferred Stock were validly tendered and not properly withdrawn pursuant to the tender offer, representing approximately 24% of the Series D Preferred Stock offered for exchange;
• 1,754,738 shares of Series F Preferred Stock were validly tendered and not properly withdrawn pursuant to the tender offer, representing approximately 37% of the Series F Preferred Stock offered for exchange;
• 1,662,813 shares of Series G Preferred Stock were validly tendered and not properly withdrawn pursuant to the tender offer, representing approximately 27% of the Series G Preferred Stock offered for exchange;
• 1,029,026 shares of Series H Preferred Stock were validly tendered and not properly withdrawn pursuant to the tender offer, representing approximately 27% of the Series H Preferred Stock offered for exchange; and
• 1,857,747 shares of Series I Preferred Stock were validly tendered and not properly withdrawn pursuant to the tender offer, representing approximately 34% of the Series I Preferred Stock offered for exchange.

The transaction will result in the issuance of approximately 38,388,760 new shares of the Company’s Common Stock.  The closing of the Exchange Offers is expected to occur on November 25, 2020.

Where You Can Find Additional Information

In connection with the Exchange Offers (which expired on the Expiration Date), the Company filed a registration statement on Form S-4 (as amended from time to time, the “Registration Statement”) with the Securities and Exchange Commission (“SEC”) for the purpose of registering the Common Stock issued pursuant to the Exchange Offers under the Securities Act of 1933, as amended. The Registration Statement was declared effective on September 9, 2020 at 4:00 p.m. ET. The Company has also filed with the SEC a Schedule TO for the Exchange Offers and a proxy statement on Schedule 14A to solicit proxies from the holders of its Common Stock to approve the relevant items upon which the holders of the Common Stock were entitled to vote (as amended, the “Proxy Statement”).

This does not constitute an offer of any securities for sale. Further, this communication is not a solicitation of a proxy from any security holder of the Company and shall not constitute the solicitation of an offer to buy securities.

Investors should read the Registration Statement and the Schedule TO for the Exchange Offers as they contain important information about the Exchange Offers, the Company and the other proposed transactions. Holders of Common Stock should read the Proxy Statement and any other relevant documents because they contain important information about the Company and the proposed transactions. The Registration Statement, Schedule TO and Proxy Statement are available for free on the SEC’s website, www.sec.gov. The prospectus included in the Registration Statement and additional copies of the Proxy Statement will be available for free from the Company for the applicable shareholders of the Company.

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.

Ashford has created an Ashford App for the hospitality REIT investor community. The Ashford App is available for free download at Apple’s App Store and the Google Play Store by searching “Ashford.”

Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, among others, statements about the Company’s strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we use the words “will likely result,” “may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Ashford Trust’s control.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: the impact of the novel strain of coronavirus (COVID-19) on our business; the ability of the Company and the Company’s advisor, Ashford Inc., to continue as a going concern; the timing and outcome of the Securities and Exchange Commission’s investigation; our ability to meet the New York Stock Exchange continued listing standards; our ability to repay, refinance or restructure our debt and the debt of certain of our subsidiaries; general volatility of the capital markets and the market price of our common stock and preferred stock; changes in our business or investment strategy; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the market in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are more fully discussed in Ashford Trust’s filings with the Securities and Exchange Commission.

The forward-looking statements included in this press release are only made as of the date of this press release. Investors should not place undue reliance on these forward-looking statements. We will not publicly update or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations or otherwise except to the extent required by law.

 

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SOURCE Ashford Hospitality Trust, Inc.

EDEN PRAIRIE, Minn., Nov. 23, 2020 /PRNewswire/ — MTS Systems Corporation (NASDAQ: MTSC), a leading global supplier of advanced test systems, motion simulators and precision sensors, today announced that it will release its fourth quarter results on December 15, 2020 before market open. A conference call will be held on December 15, 2020 at 10:00 a.m. ET (9:00 a.m. CT).

Participants may join the live conference call by calling toll free 800-367-2403 (international toll 1-334- 777-6978) and referencing the conference pass code 7354821.

The conference call replay may be accessed by calling 888-203-1112 and referencing the conference replay pass code 7354821. The replay will be available at 1:00 p.m. ET following the call until 1:00 p.m. ET on December 22, 2020.

A transcript of the call can also be accessed from the MTS website at https://investor.mts.com/events-and-presentations/presentations. It will be available on December 16, 2020.

About MTS Systems Corporation

MTS Systems Corporation’s testing and simulation hardware, software and service solutions help customers accelerate and improve their design, development and manufacturing processes and are used for determining the mechanical behavior of materials, products and structures. MTS’ high- performance sensors provide measurements of vibration, pressure, position, force and sound in a variety of applications. MTS had 3,500 employees as of September 28, 2019 and revenue of $893 million for the fiscal year ended September 28, 2019. Additional information on MTS can be found at www.mts.com.

For more information, contact:
Brian Ross
Executive Vice President and Chief Financial Officer
952.937.4000

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SOURCE MTS Systems Corporation

SAN RAFAEL, Calif., Nov. 23, 2020 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) today announced its executives will be speaking at the following investor conferences:

• Berenberg European Conference 2020, November 30, 2020, Virtual Conference
• Credit Suisse 24th Annual Technology Conference, November 30, 2020, Virtual Conference
• Wells Fargo Securities VIRTUAL TMT Summit, December 1, 2020, Virtual Conference
• 43rd Nasdaq Virtual Investor Conference, December 4, 2020, Virtual Conference    
• Barclays Global Technology, Media and Telecommunications Conference, December 9, 2020, Virtual Conference               

A live webcast and replay of the presentations will be available through Autodesk’s Investor Relations Website at www.autodesk.com/investors. Please go to the Website 15 minutes early to register, download and install any necessary software. For more information, please call Autodesk Investor Relations at 415-507-6373.

About Autodesk

Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.

Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts.

Autodesk is a registered trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

© 2020 Autodesk, Inc. All rights reserved.

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SOURCE Autodesk, Inc.

RESTON, Va., Nov. 23, 2020 /PRNewswire/ — Leidos (NYSE:LDOS), a FORTUNE^® 500 science and technology leader, was recently awarded a cost-plus-fixed-fee contract by Naval Medical Logistics Command. Through this contract, Leidos will continue to perform operational medicine and warfighter performance research for the Naval Health Research Center’s (NHRC) Operational Readiness Directorate. The single award indefinite delivery, indefinite quantity contract holds a maximum value of $82 million. It includes a 60-month period of performance. Work will primarily be performed at NHRC in San Diego, California.

“We are excited to continue our support of the Naval Health Research Center,” said Liz Porter, Leidos Health Group president. “Through this contract Leidos will utilize our robust scientific and technical expertise to support important NHRC research. We are proud to do our part to improve lives and ensure our military personnel can perform at the highest levels.”

NHRC conducts core research in operational readiness, military health and infectious diseases. In the area of operational readiness, NHRC leverages scientific breakthroughs to optimize human performance, recovery and resilience and to prevent injuries. They also develop medical planning, logistics and decision support tools for the nation’s armed forces.

Through this contract, Leidos will continue to provide data-driven research modeling to support operational medicine. The modeling is designed to enhance medical decision tools for operational commanders, medical logisticians and field medical personnel. In addition, the Leidos team will continue to analyze warfighter performance with medical research, development, testing, evaluation and surveillance services. The research outcomes are intended to enhance mission readiness, warfighter resilience and rehabilitation strategies for Department of Defense personnel worldwide.

Human performance, resilience and service member wellbeing are key focus areas for Leidos Health. Learn more at leidos.com/human-performance.

About Leidos

Leidos is a Fortune 500^® information technology, engineering, and science solutions and services leader working to solve the world’s toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company’s 38,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $11.09 billion for the fiscal year ended January 3, 2020. For more information, visit www.Leidos.com.

Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company’s Annual Report on Form 10-K for the period ended January 3, 2020, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

 

 

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SOURCE Leidos

CAMBRIDGE, Mass., Nov. 23, 2020 /PRNewswire/ — Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced plans to report data presentations highlighting the medical needs in systemic mastocytosis (SM) and the broad potential of AYVAKIT™ (avapritinib) across multiple SM patient populations at the 62^nd American Society of Hematology (ASH) Annual Meeting and Exposition. AYVAKIT is designed to potently and selectively target D816V mutant KIT, the primary driver of SM, and is being developed for the treatment of advanced and non-advanced forms of the disease.

“The breadth of our upcoming ASH presentations highlights our commitment to fundamentally change the way systemic mastocytosis is diagnosed and treated across a broad population of patients impacted by this disease,” said Andy Boral, M.D., Ph.D., Chief Medical Officer at Blueprint Medicines. “These presentations reflect our collaborative efforts with the systemic mastocytosis community to better understand the burden of disease, advance important strategies for facilitating diagnosis and establish new methods for measuring treatment response.”

The accepted abstracts are listed below and available on the ASH conference website: https://www.hematology.org/meetings/annual-meeting.

Oral Presentation

Presentation Title: Pure Pathologic Response Is Associated with Improved Overall Survival in Patients with Advanced Systemic Mastocytosis Receiving Avapritinib in the Phase I EXPLORER Study
Session Title: Myeloproliferative Syndromes: Clinical: Translational Science in MPN—Hitting the Mark
Session Date & Time: Sunday, December 6, 2020 at 10:15 a.m. PT (1:15 p.m. ET)
Abstract Number: 345

Poster Presentations

Presentation Title: Patient Reported Outcomes Among Systemic Mastocytosis (SM) Patients in Routine Clinical Practice: Results from the TouchStone Survey
Session Title: Outcomes Research—Non-Malignant Conditions: Poster I
Session Date & Time: Saturday, December 5, 2020 from 7:00 a.m. – 3:30 p.m. PT (10:00 a.m. – 6:30 p.m. ET)
Abstract Number: 1638

Presentation Title: Results from PIONEER: A Randomized, Double-Blind, Placebo-Controlled, Phase 2 Study of Avapritinib in Patients with Indolent Systemic Mastocytosis
Session Title: Myeloproliferative Syndromes: Clinical: Poster I
Session Date & Time: Saturday, December 5, 2020 from 7:00 a.m. – 3:30 p.m. PT (10:00 a.m. – 6:30 p.m. ET)
Abstract Number: 1248

Presentation Title: Increased Detection of KIT D816V Mutation in Peripheral Blood Samples from Patients with Indolent Systemic Mastocytosis (ISM) in the Phase 2 PIONEER Study Using a High Sensitivity Droplet Digital (dd) PCR Assay Compared with Next Generation Sequencing (NGS)
Session Title: Hodgkin Lymphoma and T/NK Cell Lymphoma—Clinical Studies: Poster III
Session Date & Time: Monday, December 7, 2020 from 7:00 a.m. – 3:30 p.m. PT (10:00 a.m. – 6:30 p.m. ET)
Abstract Number: 3004

Presentation Title: Perceptions of Patient Disease Burden and Management Approaches of Systemic Mastocytosis By Healthcare Providers: Results from the TouchStone SM Survey
Session Title: Health Services Research—Non-Malignant Conditions: Poster III
Session Date & Time: Monday, December 7, 2020 from 7:00 a.m. – 3:30 p.m. PT(10:00 a.m. – 6:30 p.m. ET)
Abstract Number: 3403

Presentation Title: PIONEER Part 2: A Randomized, Double-Blind, Placebo-Controlled, Phase 2 Study to Evaluate Safety and Efficacy of Avapritinib in Indolent Systemic Mastocytosis
Session Title: Hodgkin Lymphoma and T/NK Cell Lymphoma—Clinical Studies: Poster III
Session Date & Time: Monday, December 7, 2020 from 7:00 a.m. – 3:30 p.m. PT (10:00 a.m. – 6:30 p.m. ET)
Abstract Number: 2988

About AYVAKIT (avapritinib)

AYVAKIT (avapritinib) is a kinase inhibitor approved by the U.S. Food and Drug Administration (FDA) for the treatment of adults with unresectable or metastatic gastrointestinal stromal tumor (GIST) harboring a PDGFRA exon 18 mutation, including PDGFRA D842V mutations. For more information, visit www.AYVAKIT.com. This medicine is approved in Europe under the brand name AYVAKYT^® for the treatment of adults with unresectable or metastatic GIST harboring the PDGFRA D842V mutation.

AYVAKIT is not approved for the treatment of any other indication, including SM, in the U.S. by the FDA or in Europe by the European Commission, or for any indication in any other jurisdiction by any other health authority.

Blueprint Medicines is developing AYVAKIT globally for the treatment of advanced and indolent SM. The FDA granted breakthrough therapy designation to AYVAKIT for the treatment of advanced SM, including the subtypes of aggressive SM, SM with an associated hematologic neoplasm and mast cell leukemia.

Blueprint Medicines has an exclusive collaboration and license agreement with CStone Pharmaceuticals for the development and commercialization of AYVAKIT in Mainland China, Hong Kong, Macau and Taiwan. Blueprint Medicines retains development and commercial rights for AYVAKIT in the rest of the world.

About Blueprint Medicines
Blueprint Medicines is a precision therapy company striving to improve human health. With a focus on genomically defined cancers, rare diseases and cancer immunotherapy, we are developing transformational medicines rooted in our leading expertise in protein kinases, which are proven drivers of disease. Our uniquely targeted, scalable approach empowers the rapid design and development of new treatments and increases the likelihood of clinical success. We have two approved precision therapies and are currently advancing multiple investigational medicines in clinical and pre-clinical development, along with a number of earlier-stage research programs. For more information, visit www.BlueprintMedicines.com and follow us on Twitter (@BlueprintMeds) and LinkedIn.

Cautionary Note Regarding Forward-Looking Statements 
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding plans, timelines and expectations for interactions with the FDA and other regulatory authorities; expectations regarding the potential benefits of AYVAKIT in treating patients with SM; and Blueprint Medicines’ strategy, goals and anticipated milestones, business plans and focus. The words “aim,” “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks and uncertainties related to the impact of the COVID-19 pandemic to Blueprint Medicines’ business, operations, strategy, goals and anticipated milestones, including Blueprint Medicines’ ongoing and planned research and discovery activities, ability to conduct ongoing and planned clinical trials, clinical supply of current or future drug candidates, commercial supply of current or future approved products, and launching, marketing and selling current or future approved products; Blueprint Medicines’ ability and plans in establishing a commercial infrastructure, and successfully launching, marketing and selling current or future approved products, including AYVAKIT and GAVRETO™ (pralsetinib); Blueprint Medicines’ ability to successfully expand the approved indications for AYVAKIT and GAVRETO or obtain marketing approval for AYVAKIT and GAVRETO in additional geographies in the future; the delay of any current or planned clinical trials or the development of Blueprint Medicines’ current or future drug candidates; Blueprint Medicines’ advancement of multiple early-stage efforts; Blueprint Medicines’ ability to successfully demonstrate the safety and efficacy of its drug candidates and gain approval of its drug candidates on a timely basis, if at all; the preclinical and clinical results for Blueprint Medicines’ drug candidates, which may not support further development of such drug candidates; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials; Blueprint Medicines’ ability to develop and commercialize companion diagnostic tests for its current and future drug candidates; and the success of Blueprint Medicines’ current and future collaborations, partnerships or licensing arrangements. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Blueprint Medicines’ filings with the Securities and Exchange Commission (SEC), including Blueprint Medicines’ most recent Annual Report on Form 10-K, as supplemented by its most recent Quarterly Report on Form 10-Q and any other filings that Blueprint Medicines has made or may make with the SEC in the future. Any forward-looking statements contained in this press release represent Blueprint Medicines’ views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Except as required by law, Blueprint Medicines explicitly disclaims any obligation to update any forward-looking statements.

Trademarks

Blueprint Medicines, AYVAKIT, AYVAKYT, GAVRETO and associated logos are trademarks of Blueprint Medicines Corporation.

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SOURCE Blueprint Medicines Corporation

TEL AVIV, Israel and RALEIGH, N.C., Nov. 23, 2020 /PRNewswire/ — RedHill Biopharma Ltd. (Nasdaq: RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company, today announced that it will present and participate at the following virtual conferences in December:

Evercore ISI 3^rd Annual HealthCONx Conference


Fireside chat and an open Q&A:
Thursday, December 3, 2020, 8 a.m. EST
Moderator: Umer Raffat, Equity Research – Biotech-large, Pharma-major, Specialty Pharma
Speaker:Dror Ben-Asher, CEO & Gilead Raday, Chief Operating Officer

Piper Sandler 32^nd Annual Virtual Healthcare Conference


Fireside chat: Available on-demand from November 23, 2020
Moderator:David Amsellem, Managing Director, Sr. Research Analyst, Specialty Pharma
Speaker:Guy Goldberg, Chief Business Officer

The webcasts will be available for replay for 30 days on the Company’s website: https://ir.redhillbio.com.

About RedHill Biopharma    

RedHill Biopharma Ltd. (Nasdaq: RDHL) is a specialty biopharmaceutical company primarily focused on gastrointestinal and infectious diseases. RedHill promotes the gastrointestinal drugs, Movantik^® for opioid-induced constipation in adults with non-cancer pain^[1], Talicia® for the treatment of Helicobacter pylori (H. pylori) infection in adults^[2], and Aemcolo^® for the treatment of travelers’ diarrhea in adults^[3]. RedHill’s key clinical late-stage investigational development programs include: (i) RHB-204, with an ongoing Phase 3 study for pulmonary nontuberculous mycobacteria (NTM) disease; (ii) opaganib (Yeliva^®), a first–in–class SK2 selective inhibitor targeting multiple indications with a Phase 2/3 program for COVID-19 and Phase 2 studies for prostate cancer and cholangiocarcinoma ongoing; (iii) RHB-104, with positive results from a first Phase 3 study for Crohn’s disease; (iv) RHB-102 (Bekinda^®), with positive results from a Phase 3 study for acute gastroenteritis and gastritis and positive results from a Phase 2 study for IBS-D; (v) RHB-107 (upamostat), a Phase 2-stage first-in-class, serine protease inhibitor, targeting cancer and inflammatory gastrointestinal diseases and is also being evaluated for COVID-19 and (vi) RHB–106, an encapsulated bowel preparation. More information about the Company is available at www.redhillbio.com.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified, and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include risks and uncertainties associated with (i) the initiation, timing, progress and results of the Company’s research, manufacturing, preclinical studies, clinical trials, and other therapeutic candidate development efforts, and the timing of the commercial launch of its commercial products and ones it may acquire or develop in the future; (ii) the Company’s ability to advance its therapeutic candidates into clinical trials or to successfully complete its preclinical studies or clinical trials (iii) the extent and number and type of additional studies that the Company may be required to conduct and the Company’s receipt of regulatory approvals for its therapeutic candidates, and the timing of other regulatory filings, approvals and feedback; (iv) the manufacturing, clinical development, commercialization, and market acceptance of the Company’s therapeutic candidates and Talicia^®; (v) the Company’s ability to successfully commercialize and promote Movantik^®, Talicia^® and Aemcolo^®; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) the Company’s ability to acquire products approved for marketing in the U.S. that achieve commercial success and build and sustain its own marketing and commercialization capabilities; (viii) the interpretation of the properties and characteristics of the Company’s therapeutic candidates and the results obtained with its therapeutic candidates in research, preclinical studies or clinical trials; (ix) the implementation of the Company’s business model, strategic plans for its business and therapeutic candidates; (x) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its therapeutic candidates and commercial products and its ability to operate its business without infringing the intellectual property rights of others; (xi) parties from whom the Company licenses its intellectual property defaulting in their obligations to the Company; (xii) estimates of the Company’s expenses, future revenues, capital requirements and needs for additional financing; (xiii) the effect of patients suffering adverse events using investigative drugs under the Company’s Expanded Access Program; and (xiv) competition from other companies and technologies within the Company’s industry. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 20-F filed with the SEC on March 4, 2020. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement, whether as a result of new information, future events or otherwise unless required by law.

 

 

[1] Full prescribing information for Movantik^® (naloxegol) is available at: www.Movantik.com.  

[2] Full prescribing information for Talicia^® (omeprazole magnesium, amoxicillin and rifabutin) is available at: www.Talicia.com.       

[3] Full prescribing information for Aemcolo^® (rifamycin) is available at: www.Aemcolo.com.

 

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SOURCE RedHill Biopharma Ltd.

BEIJING, Nov. 23, 2020 /PRNewswire/ — Scienjoy Holding Corporation (“Scienjoy”, the “Company”, or “We”) (NASDAQ: SJ), a leading live entertainment mobile streaming platform in China, today announced its unaudited financial results for the third quarter and first nine months ended September 30, 2020.

Third Quarter 2020 Operating and Financial Highlights

• Total net revenues increased by 29.1% to RMB316.4 million (US$46.6 million) from RMB245.0 million in the same period of 2019.
• Gross profit increased by 32.3% to RMB71.8 million (US$10.6 million) from RMB54.3 million in the same period of 2019. Gross margin expanded to 22.7% from 22.2% in the same period of 2019.
• Net income increased by 59.1% to RMB61.1 million (US$9.0 million) from RMB38.4 million in the same period of 2019. Net income margin expanded to 19.3% from 15.7% in the same period of 2019.
• Adjusted net income ^[1] increased by 33.7% to RMB51.4 million (US$7.6 million) from RMB38.4 million in the same period of 2019. Adjusted net income margin expanded to 16.2% from 15.7% in the same period of 2019.
• Total paying users increased by 28.0% to 322,841 from 252,299 in the same period of 2019.
• Total number of broadcasters increased by 635.4% to 97,038 from 13,196 in the same period of 2019.

Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, “Our robust performances in the third quarter and first nine months of 2020 continued to showcase the strength of our platform’s value proposition for both users and broadcasters. In addition, by continuously refining our platform’s features and technology, we have also continued to fuel its growth, attracting more broadcasters, augmenting our brand influence, and cultivating a richer and more diverse ecosystem of quality content offerings. In August, we entered into an agreement to acquire the global live streaming platform, BeeLive. We believe that this acquisition will help us to not only enhance our overall industry leadership, but also generate increasing shareholder value over the long term. Going forward, we expect to continue driving the expansion of our business both in China and around the world by providing our users with an increasingly vibrant and interactive social experience.”

Mr. Denny Tang, Chief Financial Officer of Scienjoy, added, “In addition to achieving meaningful user growth, we were also able to significantly improve our financial performance in the third quarter of 2020 despite a myriad of macroeconomic uncertainties. As a result, during the period, total net revenues grew by 29.1% year over year, gross profit grew by 32.3% year over year, and net income grew by 59.1% year over year. Looking ahead, we remain confident that our healthy financial growth, improved operating leverage, and sufficient liquidity position will continue to deliver lasting value for our shareholders over the long term.”

Third Quarter 2020 Financial Results

Total net revenues in the third quarter of 2020 increased by 29.1% to RMB316.4 million (US$46.6 million) from RMB245.0 million in the same period of 2019. This increase was in line with the 28.0% year-over-year increase in total paying users during the quarter.

Cost of revenues in the third quarter of 2020 increased by 28.2% to RMB244.5 million (US$36.0 million) from RMB190.7 million in the same period of 2019. The increase was primarily attributable to a 35.0%, or RMB55.3 million, year-over-year increase in the Company’s revenue sharing fees and content costs, which was consistent with the 635.4% year-over-year increase in the total number of broadcasters as well as the growth of the Company’s overall live streaming operations in the third quarter of 2020.

Gross profit in the third quarter of 2020 increased by 32.3% to RMB71.8 million (US$10.6 million) from RMB54.3 million in the same period of 2019. Gross margin in the third quarter of 2020 increased slightly to 22.7% from 22.2% in the same period of 2019.

Total operating expenses in the third quarter of 2020 increased by 22.8% to RMB20.4 million (US$3.0 million) from RMB16.6 million in the same period of 2019.

• Sales and marketing expenses in the third quarter of 2020 increased by 40.7% to RMB1.2 million (US$0.2 million) from RMB0.9 million in the same period of 2019, due to the additional promotional activities that the Company organized during the third quarter of 2020 to attract and retain paying users.
• General and administrative expenses in the third quarter of 2020 increased by 71.2% to RMB11.0 million (US$1.6 million) from RMB6.5 million in the same period of 2019. This increase was caused by higher employee benefits, an increased headcount, as well as additional consulting and professional fees incurred as a result of the Company’s listing on the Nasdaq Stock Market.
• Research and development expenses in the third quarter of 2020 increased slightly by 7.3% to RMB7.7 million (US$1.1 million) from RMB7.2 million in the same period of 2019 due to a higher R&D headcount and the related expenses incurred.
• Provision for doubtful accounts in the third quarter of 2020 decreased by 81.0% to RMB0.4 million (US$0.1 million) from RMB2.1 million in the same period of 2019 as a result of the Company’s increased collection efforts. The Company expects its provision for doubtful accounts to decline going forward as it has committed more resources to the collection of its account receivables.

Income from operations in the third quarter of 2020 increased by 36.5% to RMB51.4 million (US$7.6 million) from RMB37.7 million in the same period of 2019. Operating margin in the third quarter of 2020 expanded to 16.3% from 15.4% in the same period of 2019.

Change in fair value of contingent consideration in the third quarter of 2020 was RMB9.8 million (US$1.4 million). The Company’s reverse recapitalization with Wealthbridge Acquisition Limited (“Wealthbridge”) on May 7, 2020, and acquisition of BeeLive on August 21, 2020, involved payments of future contingent consideration upon the achievement of certain financial performance targets and specific market price levels. Earn out liabilities are recorded for the estimated fair value of the contingent consideration on the merger date. The fair value of the contingent consideration is re-measured at each reporting period, and the change in fair value is recognized as either income or expense. For the third quarter 2020, the change in fair value of contingent condition included approximately RMB6.9 million and RMB2.9 million of changes in fair value of contingent consideration in Wealthbridge and Beelive acquisitions, respectively.

Net income in the third quarter of 2020 increased by 59.1% to RMB61.1 million (US$9.0 million) from RMB38.4 million in the same period of 2019. Net margin in the third quarter of 2020 expanded to 19.3% from 15.7% in the same period of 2019.

Adjusted net income in the third quarter of 2020, which excludes changes in fair value of contingent consideration, increased by 33.7% to RMB51.4 million (US$7.6 million) from RMB38.4 million in the same period of 2019. Adjusted net margin in the third quarter of 2020 expanded to 16.2% from 15.7% in the same period of 2019.

Basic and diluted net income per ordinary share in the third quarter of 2020 were both RMB2.54(US$0.37). In comparison, basic and diluted net income per ordinary share in the third quarter of 2019 were RMB1.98 and RMB1.92, respectively.

Adjusted basic and diluted net income per ordinary share in the third quarter of 2020 were both RMB2.13(US$0.31). In comparison, adjusted basic and diluted net income per ordinary share in the third quarter of 2019 were RMB1.98 and RMB1.92, respectively.

As of September 30, 2020, the Company had cash and cash equivalents of RMB166.9 million (US$24.6 million) compared to RMB137.4 million as of December 31, 2019.

Business Outlook

The Company expects its total net revenues to be in the range of RMB389.0 million to RMB405.0 million in the fourth quarter of 2020. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change, particularly in respect to the potential impact of COVID-19 on the economy in China and other markets around the world.

Recent Developments

On August 10, 2020, the Company entered into an Equity Acquisition Framework Agreement (the “Agreement”) to acquire 100% of the equity interest in BeeLive from its two controlling companies. Pursuant to the Agreement, the Company is required to pay (i) a cash consideration of RMB50.0 million and (ii) RMB250.0 million in ordinary shares to be issued by the Company. The share consideration payments are subject to certain performance conditions and requirements over the following three years. The Company believes the acquisition will generate powerful synergies and significantly bolster the Company’s competitive advantages in the industry going forward. The transaction was closed on August 10, 2020. The information related to acquisition of BeeLive with its historical and pro-forma financial results is included in the Company’s Form F-1/A filed with SEC on October 16, 2020.

About Scienjoy Holding Corporation Limited

Founded in 2011, Scienjoy is a leading show live streaming video entertainment social platform in China. With more than 200 million registered users, Scienjoy currently operates four primary online live streaming brands on five mobile apps: Showself, Lehai, Haixiu, and Beelive International and BeeLive Chinese (Mifeng), each using Scienjoy’s own mobile applications. Through this collection of online live streaming brands, Scienjoy has created a vibrant, interactive, and close community. Scienjoy operates a mobile live streaming business through which it provides live streaming entertainment from professional “broadcasters” to end-users, allowing for the operation of live social video communities. Using Scienjoy’s mobile applications, users can select broadcasters and enter real time video rooms to interact with them. In addition to real-time interactions, users can also view photos posted by broadcasters on their personal pages, leave comments, and engage in private chats with broadcasters when they are not streaming. In addition, users can also play fun and simple games by using virtual currencies within the video rooms while watching the live streaming of a broadcaster. For more information, please see http://ir.Scienjoy.com/.

Use of Non-GAAP Financial Measures

Adjusted net income is calculated as net income adjusted for change in fair value of contingent consideration. Adjusted basic and diluted net income per ordinary share is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The non-GAAP financial measures are presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to its most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with US GAAP.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of Non-GAAP Results” near the end of this release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.7896 to US$1.00, the noon buying rate in effect on September 30, 2020, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized or settled in U.S. dollars at that rate on September 30, 2020, or at any other rate.

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission (“SEC”) from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

Investor Relations Contact

Ray Chen

VP, Investor relations
Scienjoy Inc.
+86-010-64428188
[email protected]

Jack Wang

ICR Inc.
+1 (212) 537-9254
[email protected]

 

 

 

 

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SOURCE Scienjoy Holding Corporation

CORK, Ireland, Nov. 23, 2020 /PRNewswire/ — Johnson Controls International plc (NYSE: JCI) Chairman and Chief Executive Officer, George Oliver and Executive Vice President and Chief Financial Officer, Olivier Leonetti will speak at the Credit Suisse 8^th Annual Virtual Industrials Conference on Wednesday, December 2, 2020 at 8:50 a.m. EST.  A live webcast of the presentation will be available on the company’s website at: http://investors.johnsoncontrols.com/news-and-events/events-and-presentations.

About Johnson Controls:

At Johnson Controls, we transform the environments where people live, work, learn and play. From optimizing building performance to improving safety and enhancing comfort, we drive the outcomes that matter most. We deliver our promise in industries such as healthcare, education, data centers and manufacturing. With a global team of 100,000 experts in more than 150 countries and over 130 years of innovation, we are the power behind our customers’ mission. Our leading portfolio of building technology and solutions includes some of the most trusted names in the industry, such as Tyco^®, York^®, Metasys^®, Ruskin^®, Titus^®, Frick^®, Penn^®, Sabroe^®, Simplex^®, Ansul^® and Grinnell^®. For more information, visit www.johnsoncontrols.com or follow us @johnsoncontrols on Twitter.

 

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SOURCE Johnson Controls International plc

FREMONT, Calif., Nov. 23, 2020 /PRNewswire/ — Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company focused on developing innovative first-in-class medicines to improve treatment for people with kidney and cardiovascular diseases, today announced that a webcast of Mike Raab, president and chief executive officer of Ardelyx, and Susan Rodriguez, chief commercial officer, participating in a fireside chat at the Piper Sandler 32nd Annual Virtual Healthcare Conference will be available today at 10 a.m. ET.

To access the webcast of Ardelyx’s presentation please visit the Events and Presentations page within the Ardelyx website at https://ir.ardelyx.com/events-and-presentations. A replay of the fireside chat will be available on the Ardelyx website for 60 days following the presentation.

About Ardelyx, Inc.
Ardelyx is focused on developing innovative first-in-class medicines to enhance the lives of patients with kidney and cardiovascular diseases. Ardelyx is advancing tenapanor, a novel product candidate to control serum phosphorus in adult patients with CKD on dialysis, for which the company’s NDA is currently under review by the FDA, with a PDUFA date of April 29, 2021. Ardelyx is also advancing RDX013, a potassium secretagogue program, for the potential treatment of high potassium, or hyperkalemia, a problem among certain patients with kidney and/or heart disease. In addition, Ardelyx received FDA approval of IBSRELA^® (tenapanor) on September 12, 2019. Ardelyx has established agreements with Kyowa Kirin in Japan, Fosun Pharma in China and Knight Therapeutics in Canada for the development and commercialization of tenapanor in the respective territories.

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SOURCE Ardelyx

LISHUI, China, Nov. 23, 2020 /PRNewswire/ — Farmmi, Inc. (“Farmmi” or the “Company”) (NASDAQ: FAMI), an agriculture products supplier in China, today announced a further expansion of its international sales. The Company’s subsidiary, Zhejiang Forest Food Co., Ltd., has received another multi-product order for export to Israel. The latest order is for dried whole and sliced Shiitake mushrooms.

Ms. Yefang Zhang, Farmmi’s Chairwoman and CEO, commented, “I am very proud of our team’s impressive execution this year as we remained focused on our long-term business objectives. By providing customers with an extensive line of superior quality agriculture products and excellent logistics support, we have been able to successfully build business momentum despite the broader market volatility. We continue to increase our reach through the expansion of our customer base and higher business volume at our existing customers. This traction places us firmly on path for continued growth as we move through the fourth quarter and beyond.”

About Farmmi, Inc.

Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is a leading agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi, and many other sought-after agricultural products. The Company’s Farmmi Liangpin Market serves as a trading platform for Chinese geographical indication agricultural products and is a large platform for consumers to access locally sourced agricultural products. For further information about the Company, please visit: http://ir.farmmi.com.cn/.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including the potential impact of COVID-19 on our business within and outside of China. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

 

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SOURCE Farmmi, Inc.