Eiger BioPharmaceuticals Announces FDA Approval of Zokinvy™ (lonafarnib): The First Treatment for Hutchinson-Gilford Progeria Syndrome and Processing-Deficient Progeroid Laminopathies

– Zokinvy increases survival by 2.5 years in children and young adults with Progeria

– Rare Pediatric Disease Priority Review Voucher issued to Eiger from FDA

– Eiger to host an investor call, November 23, at 8:30 AM ET / 5:30 AM PT

PR Newswire

PALO ALTO, Calif., Nov. 20, 2020 /PRNewswire/ — Eiger BioPharmaceuticals, Inc. (Nasdaq:EIGR), focused on the development and commercialization of targeted therapies for serious rare and ultra-rare diseases, today announced that the U.S. Food and Drug Administration (FDA) has approved ZokinvyTM (lonafarnib) for the treatment of Hutchinson-Gilford Progeria Syndrome (HGPS or Progeria) and processing-deficient Progeroid Laminopathies (PL).  

Progeria and Progeroid Laminopathies are separate and distinct ultra-rare, genetic, premature aging diseases that accelerate mortality in young patients.  Disease manifestations include growth failure, loss of body fat and hair, aged-looking skin, stiffness of joints, hip dislocation, generalized atherosclerosis, cardiovascular disease and stroke.  Untreated children with Progeria die of heart disease at an average age of 14.5 years.  There are 20 children and young adults with Progeria and PL identified and followed in the U.S.  

Zokinvy is a disease-modifying agent that has demonstrated a statistically significant survival benefit in children and young adults with Progeria.  In patients with Progeria, Zokinvy reduced the incidence of mortality by 60% (p=0.0064) and increased average survival time by 2.5 years.  The most commonly reported adverse reactions were gastrointestinal (vomiting, diarrhea, nausea), and most were mild or moderate (Grade 1 or 2) in severity.  Many Progeria patients have received continuous Zokinvy therapy for more than 10 years.

The increase in survival observed with Zokinvy was derived from two open-label clinical trials (N=62) conducted at Boston Children’s Hospital.  The survival analysis compared Zokinvy-treated versus Zokinvy-naïve subjects with Progeria born in or after 1991, by age, gender, and geographic location. Zokinvy-naïve patients originated from a separate natural history study (n=81) conducted by The Progeria Research Foundation.

With this approval, the FDA issued a Rare Pediatric Disease Priority Review Voucher (PRV) to Eiger.  The Rare Pediatric Disease Priority Review Voucher program is designed to encourage development of new drugs and biologics for the prevention or treatment of rare pediatric diseases.  Eiger plans to sell the PRV and under the terms of the Collaboration and Supply Agreement with the Progeria Research Foundation (PRF) will share the proceeds equally with PRF.

“The FDA approval of Zokinvy is the result of a pioneering partnership between Eiger BioPharmaceuticals and PRF to bring the first approved therapy to children, young adults and families living with this devastating disease,” said David Cory, President and CEO of Eiger.  “We are very proud that the first drug approval at Eiger confers a survival benefit to patients with one of the most ultra-rare, and ultimately fatal, pediatric diseases.  We are extremely grateful to all the children, young adults and their families who have made this possible through participation in the Zokinvy clinical trials.”

“The approval of this breakthrough therapy is a critical milestone for the Progeria community and also for Eiger,” said Thomas Dietz, PhD, Chairman of the Board at Eiger.  “The Eiger Board congratulates and commends the management team for their incredible dedication leading the company through its first NDA filing and approval, a major accomplishment for Eiger.”

PRF Medical Director, Leslie Gordon, MD, PhD, added, “Shortly after our son, Sam, was diagnosed with Progeria, my family and I founded The Progeria Research Foundation to find the cause, treatments, and cure for all children with this fatal disease.  This first approved medication is a truly incredible milestone for the Progeria community as we forge ahead toward finding the cure.  We are thrilled to have Eiger as a partner in bringing Zokinvy to the approval finish line, and for their commitment to ensuring patient access to Zokinvy moving forward.”

In support of the patient and healthcare provider community, Eiger is launching our dedicated service center, Eiger OneCare™.  This specialized team will offer personalized support, financial assistance, and access to Zokinvy, all designed for Progeria and processing-deficient Progeroid Laminopathy patients.  Eiger OneCare™ will be available Monday through Friday from 9 AM to 5 PM Eastern Time at 1-833-MYEIGER (1-833-693-4437).

Investor Call

Eiger will host a conference call November 23 at 8:30 AM ET / 5:30 AM PT to discuss the Zokinvy approval.  The live and replayed webcast of the call will be available through the company’s website at www.eigerbio.com.  To participate in the live call by phone, dial (844) 743-2495 (U.S.) or (661) 378-9529 (international) and enter the passcode 5685423.  The replay of the call will be available for one year.

For full prescribing information, visit www.zokinvy.com.

About Zokinvy (lonafarnib)

Zokinvy blocks the accumulation of defective, farnesylated proteins which form tight associations with the nuclear envelope, leading to cellular instability and the process of premature aging in children and young adults with Progeria and processing-deficient Progeroid Laminopathies.

Eiger licensed exclusive worldwide rights to lonafarnib from Merck, known as MSD outside of the United States and Canada.  Merck will not receive any milestone payments for the development of lonafarnib for the treatment of Progeria, and has waived royalty obligations from Eiger for a specified quantity of lonafarnib.

About
 
Progeria and Progeroid Laminopathies

Progeria, also known as Hutchinson–Gilford Progeria Syndrome (HGPS), and Progeroid Laminopathies are separate and distinct ultra-rare, fatal, genetic premature aging diseases that accelerate mortality in young patients.

Progeria is caused by a point mutation in the LMNA gene, yielding the farnesylated aberrant protein, progerin.  Progeroid Laminopathies are genetic conditions of accelerated aging caused by a constellation of mutations in the LMNA and/or Zmpste24 genes yielding farnesylated proteins that are distinct from progerin.  While non–progerin producing, these genetic mutations result in disease manifestations with phenotypes that have overlap with, but are distinct from, Progeria.

Without Zokinvy therapy, children with Progeria die of the same heart disease that affects millions of normally aging adults (arteriosclerosis), but at an average age of 14.5 years.  Disease manifestations include severe failure to thrive, scleroderma–like skin, global lipodystrophy, alopecia, joint contractures, skeletal dysplasia, global accelerated atherosclerosis with cardiovascular decline, and debilitating strokes.  It is estimated that there are 400 children worldwide with Progeria and 200 children with Progeroid Laminopathies.  Of these patients, approximately 180 children and young adults have been identified, including 20 in the U.S. and 23 in Europe.


INDICATION

ZOKINVY is indicated in adult and pediatric patients 12 months of age and older with a body surface area (BSA) of 0.39 m2 and above:

  • To reduce the risk of mortality in Hutchinson-Gilford Progeria Syndrome (HGPS)
  • For the treatment of processing-deficient Progeroid Laminopathies with either:
    • Heterozygous LMNA mutation with progerin-like protein accumulation
    • Homozygous or compound heterozygous ZMPSTE24 mutations

Limitations of Use

ZOKINVY is not indicated for use in patients with non-HGPS Progeroid Syndromes or with Progeroid Laminopathies known to be processing-proficient. Based upon its mechanism of action, ZOKINVY would not be expected to be effective in these populations.

Contraindications

  • Strong or moderate CYP3A inhibitors or inducers
  • Midazolam
  • Lovastatin, simvastatin, and atorvastatin


IMPORTANT SAFETY INFORMATION

  • The most common adverse reactions are vomiting (90%), diarrhea (81%), infection (78%), nausea (56%), decreased appetite (53%), fatigue (51%), upper respiratory tract infection (51%), abdominal pain (48%), musculoskeletal pain (48%), electrolyte abnormalities (43%), headache (37%), decreased weight (37%), increased aspartate aminotransferase (35%), myelosuppression (35%), cough (33%), decreased blood bicarbonate (33%), hypertension (29%), and increased alanine aminotransferase (27%).

Gastrointestinal Adverse Reactions

  • Gastrointestinal adverse reactions were the most frequently reported adverse reactions. Of the 57 patients (90%) that experienced vomiting, 30 (53%) patients had mild vomiting, 26 (46%) patients had moderate vomiting, and 1 (2%) patient had severe vomiting.
  • Of the 35 patients (56%) that experienced nausea, 34 (97%) patients had mild nausea and 1 (3%) patient had moderate nausea.
  • Of the 51 patients (81%) that experienced diarrhea, the majority of patients (92%) experienced mild or moderate diarrhea; 38 (75%) patients reported mild diarrhea and 9 (18%) patients reported moderate diarrhea. Four (8%) patients reported severe diarrhea.
  • Loss of fluids and dehydration can be severe, leading to hospitalization. As a result, patients should receive therapy for diarrhea at the earliest signs in order to avoid possible severe complications.

Alanine Aminotransferase and Aspartate Aminotransferase Elevations

  • Increased alanine aminotransferase was commonly reported (17 [27%] patients). Of the 17 patients with increased alanine aminotransferase, 14 (82%) patients had mild increases, 1 (6%) patient had moderate increases, and 2 (12%) patients had severe increases.
  • Increased aspartate aminotransferase was also commonly reported (22 [35%] patients). Of the 22 patients with increased aspartate aminotransferase, 21 (95%) patients had mild increases and 1 (5%) patient had a severe increase.

Hypertension

  • Increases in blood pressure have been documented in patients treated with ZOKINVY. At baseline 22 (35%) patients had either a systolic blood pressure or a diastolic blood pressure or both above the 95th percentile. Over the course of the trials, 18 (29%) patients had hypertension based on systolic blood pressure or diastolic blood pressure measurements above the 95th percentile on 3 or more occasions. Five (8%) patients who were normotensive at baseline had either systolic blood pressure or diastolic blood pressure above the 95th percentile at the end of treatment.

Ophthalmic Adverse Reactions

  • Lonafarnib caused retinal toxicity in monkeys at 3.7 times the human dose based on plasma drug exposure, but not at 2.1 times the human dose.

Laboratory Abnormalities

Some patients treated with ZOKINVY developed laboratory abnormalities. These included:

  • Electrolyte abnormalities (43%), such as hyperkalemia, hypokalemia, hyponatremia, or hypercalcemia
  • Myelosuppression (35%), such as reductions in absolute neutrophil count, white blood cell counts, lymphopenia, hemoglobin, or hematocrit
  • Increased liver enzymes, such as aspartate aminotransferase (35%), or alanine aminotransferase (27%)

These laboratory abnormalities often improved while continuing ZOKINVY, but it is not possible to exclude ZOKINVY as a cause of the abnormalities.  Periodically monitor electrolytes, complete blood counts, and liver enzymes, and manage abnormalities accordingly.

Nephrotoxicity

  • Lonafarnib caused nephrotoxicity in rats at plasma drug exposures approximately equal to that achieved with the human dose. Monitor renal function at regular intervals during ZOKINVY therapy.

Retinal Toxicity

  • Lonafarnib caused rod-dependent, low-light vision decline in monkeys at plasma drug exposures similar to that achieved with the human dose. Perform ophthalmological evaluation at regular intervals and at the onset of any new visual changes during ZOKINVY therapy.

Impaired Fertility

  • Lonafarnib caused impaired fertility in female rats at 1.2 times the human dose based on plasma drug exposure.
  • Lonafarnib caused impaired fertility and testicular toxicity in male rats at 1.5 times the human dose based on plasma drug exposure, and toxicity in the male reproductive tract in monkeys at doses lower than the human dose based on plasma drug exposure.

About The Progeria Research Foundation

The Progeria Research Foundation (PRF) was established in 1999 by the family of Sam Berns, a child with Progeria.  Within four years of its founding, the PRF Genetics Consortium, in collaboration with Francis Collins, MD, PhD, discovered the Progeria gene.  PRF has funded and co-coordinated all Zokinvy-associated clinical trials for Progeria and Progeroid Laminopathies, conducted at Boston Children’s Hospital, and supports scientists who conduct Progeria research worldwide.  PRF is the only non-profit organization solely dedicated to finding treatments and the cure for Progeria and its age-related conditions, including heart disease.  PRF’s International Patient Registry includes over 300 children with Progeria in more than 65 countries.  For more information, please visit www.progeriaresearch.org.

About Eiger

Eiger is a commercial-stage biopharmaceutical company focused on the development and commercialization of first-in-class, well-characterized drugs for serious rare and ultra-rare diseases for patients with high unmet medical needs.

Zokinvy for the treatment of Hutchinson-Gilford Progeria Syndrome (HGPS or Progeria) and processing-deficient Progeroid Laminopathies is the Company’s first FDA approval.  A Marketing Authorization Application (MAA) has been accepted and is under review by the European Medicines Agency (EMA).  Outside the U.S., Eiger’s established global Managed Access Program, expected to span greater than 40 countries, ensures all children and young adults with Progeria and Progeroid Laminopathies have access to treatment.

Eiger’s lead clinical programs target Hepatitis Delta Virus (HDV) infection, the most serious form of human viral hepatitis.  Eiger is developing two complementary treatments for HDV.  Lonafarnib is a first-in-class, oral prenylation inhibitor in a global Phase 3 trial.  Peginterferon lambda is a first-in-class, well-tolerated type III interferon entering Phase 3.

For additional information about Eiger and its clinical programs, please visit www.eigerbio.com.

About Rare Pediatric Disease Priority Review Voucher (PRV) Program

Under the FDA’s Rare Pediatric Disease Priority Review Voucher program, the sponsor of a rare pediatric disease drug product receiving a priority review voucher may transfer (including by sale) the voucher to another sponsor.  The voucher may be further transferred any number of times before the voucher is used, as long as the sponsor making the transfer has not yet submitted the application.  Under the terms of Eiger’s Collaboration and Supply Agreement with The Progeria Research Foundation (PRF), Eiger and PRF would equally share any proceeds from any potential sale of the voucher.

Note Regarding Forward-Looking Statements

This press release contains “forward-looking” statements that involve substantial risks and uncertainties. All statements other than statements of historical facts, including statements regarding our future financial condition, timing for and outcomes of clinical results, business strategy and plans and objectives for future operations, are forward-looking statements. These forward-looking statements include terminology such as “believe,” “will,” “may,” “estimate,” “continue,” “anticipate,” “contemplate,” “intend,” “target,” “project,” “should,” “plan,” “expect,” “predict,” “could,” “potentially” or the negative of these terms. Forward-looking statements are our current statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, our anticipating significant milestones in 2020 and 2021, the timing of our ongoing and planned clinical development, including our ability to support the launch of a new product and ship to specialty pharmacies; our development programs for Zokinvy generally; and the potential approval of Zokinvy in jurisdictions outside of the U.S., including the EU; the risks related to the commercialization of Zokinvy, our ability to manufacture sufficient quantities of Zokinvy, and the commercial launch of Zokinvy in the U.S., the market potential for Zokinvy as a treatment for Progeria and PL; our progression and enrollment of our Phase 3 D-LIVR study in HDV; our ability to maintain supply of our commercial and clinical trial materials; our plans to advance Lambda in HDV in the U.S. and EU; our ability to transition into a commercial stage biopharmaceutical company; our ability to finance the continued advancement of our development pipeline products; and the potential for success of any of our product candidates. These statements concern product candidates that have not yet been approved for marketing by the U.S. Food and Drug Administration (FDA). No representation is made as to their safety or effectiveness for the purposes for which they are being investigated. Various important factors could cause actual results or events to differ materially from the forward-looking statements that Eiger makes, including additional applicable risks and uncertainties described in the “Risk Factors” sections in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and Eiger’s subsequent filings with the SEC. The forward-looking statements contained in this press release are based on information currently available to Eiger and speak only as of the date on which they are made. Eiger does not undertake and specifically disclaims any obligation to update any forward-looking statements, whether as a result of any new information, future events, changed circumstances or otherwise.

Investors and Media:

Sri Ryali

CFO
(650) 272-6138
[email protected]

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SOURCE Eiger BioPharmaceuticals, Inc.

ROSEN, RECOGNIZED INVESTOR COUNSEL, Reminds Precigen, Inc. f/k/a Intrexon Corporation Investors of Important December 4 Deadline in First Filed Securities Class Action Commenced by the Firm; Encourages Investors with Losses in Excess of $100K to Contact Firm – PGEN, XON

NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Precigen, Inc. f/k/a Intrexon Corporation (NASDAQ: PGEN, XON) between May 10, 2017 and September 25, 2020, inclusive (the “Class Period”), of the important December 4, 2020 lead plaintiff deadline in the securities class action commenced by the firm. The lawsuit seeks to recover damages for Precigen f/k/a Intrexon investors under the federal securities laws.

To join the Precigen class action, go to http://www.rosenlegal.com/cases-register-1964.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company was using pure methane as feedstock for its announced yields for its methanotroph bioconversion platform instead of natural gas; (2) yields from natural gas as a feedstock were substantially lower than the aforementioned pure methane yields; (3) due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock; (4) the Company’s financial statements for the quarter ended March 31, 2018 were false and could not be relied upon; (5) the Company had material weaknesses in its internal controls over financial reporting; (6) the Company was under investigation by the SEC since October 2018; and (7) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 4, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1964.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        [email protected]
        [email protected]
        www.rosenlegal.com



ROSEN, A TOP RANKED LAW FIRM, Reminds Royal Caribbean Cruises Ltd. Investors of Important December 7 Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $100K to Contact Firm – RCL

NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Royal Caribbean Cruises Ltd. (NYSE: RCL) between February 4, 2020 and March 17, 2020, inclusive (the “Class Period”) of the important December 7, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Royal Caribbean investors under the federal securities laws.

To join the Royal Caribbean class action, go to http://www.rosenlegal.com/cases-register-1966.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose material adverse facts about Royal Caribbean’s decrease in bookings outside China and its faulty policies and procedures to prevent the circulation of COVID-19 on its cruise ships. Specifically, regarding global bookings, Royal Caribbean: (1) misled investors to believe that any issue related to COVID-19 was relatively insignificant; (2) falsely assured investors that bookings outside China were strong with no signs of a slowdown; and (3) failed to disclose that the Company was experiencing material declines in bookings globally due to customer concerns over COVID-19. Additionally, regarding safety procedures, Royal Caribbean: (1) falsely assured investors that it implemented rigorous safety protocols; (2) stated such protocols were expected to ultimately contain the spread of COVID-19; and (3) failed to disclose that its ships were following grossly inadequate protocols that would foster the spread of COVID-19 and pose a substantial risk to passengers and crews. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 7, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1966.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        [email protected]
        [email protected]
        www.rosenlegal.com



Medley Capital Corporation Board Approves Internalization

New Internalized Management Team to be Installed Effective January 1, 2021

NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) — On November 18, 2020, the Board of Directors (the “Board”) of Medley Capital Corporation (NYSE: MCC) (the “Company”) approved adoption of an internalized management structure effective January 1, 2021.   The new management structure will replace the current Investment Management and Administration Agreements with MCC Advisors LLC, which expire on December 31, 2020.

To lead the internalized management team, the Board approved the appointment of David Lorber, who has served as an independent director of the Company since April 2019, as interim Chief Executive Officer and Ellida McMillan as Chief Financial Officer of the Company, each effective January 1, 2021.

Mr. Lorber and Ms. McMillan are in the process of assembling the internalized management team, that will be responsible for the day-to-day management and operations of the Company, under the oversight of the Board.  The Company has thus far engaged a senior investment professional with significant credit experience to serve as the lead portfolio strategist, who will work closely with Mr. Lorber.  The Company has also retained US Bancorp Fund Services, LLC to serve as the Company’s fund accountant and administrator, and is in the process of retaining Alaric Compliance Services, LLC, an officer of which would serve as the Company’s Chief Compliance Officer. The new, simplified and streamlined structure is expected to lead to reduced operating costs/expenses for the Company in 2021, although there can be no assurance of the anticipated savings.

Mr. Lorber, is a Co-Founder of FrontFour Capital Group LLC, an investment adviser, and has served as a Portfolio Manager for the firm since January 2007. Mr. Lorber has significant principal investment expertise in both the equity and credit markets. Mr. Lorber has also served as a director of Ferro Corporation, a leading producer of specialty materials and chemicals for manufacturers, since May 2013, where he is also Lead Director, Chairman of its Governance & Nomination Committee and a member of its Compensation Committee. From April 2006 until December 2014, Mr. Lorber served as a director of Aerojet Rocketdyne Holdings, Inc. (formerly GenCorp Inc.), a technology-based manufacturer of aerospace and defense products and systems with a real estate segment.

Ms. McMillan, served as Chief Financial Officer and Chief Operating Officer of Alcentra Capital Corporation, a NASDAQ-traded BDC, from April 2017 until it merged into Crescent Capital BDC, Inc. in February 2020.  Previously, beginning in November 2013, she served as Chief Accounting Officer of Alcentra Capital, Treasurer and Secretary of Alcentra Capital. At Alcentra she built the company’s financial and operating infrastructure, oversaw the IPO and initial NASDAQ listing, as well as assisted in all corporate M&A and strategic processes involving the BDC.

Mr. Lorber said: “I am excited to lead the Company in this new phase as we move forward and look to generate value creatively and efficiently.”

Arthur Ainsberg, the Company’s Lead Independent Director added: “We believe our streamlined internalized structure will increase our flexibility to continue to seek to maximize shareholder value.”

About Medley Capital Corporation

Medley Capital Corporation is a closed-end, externally managed business development company (“BDC”) that has common stock which trades on the New York Stock Exchange (NYSE: MCC) and has outstanding bonds which trade on the New York Stock Exchange under the symbols (NYSE: MCV) and (NYSE: MCX). Medley Capital Corporation’s investment objective is to generate current income and capital appreciation by lending to privately-held middle market companies, primarily through directly originated transactions, to help these companies expand their businesses, refinance and make acquisitions. Our portfolio generally consists of senior secured first lien loans and senior secured second lien loans. Medley Capital Corporation is presently externally managed by MCC Advisors LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended. For additional information, please visit Medley Capital Corporation at www.medleycapitalcorp.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, particularly with respect to the future performance of the Company under the new internalized management team. Such forward-looking statements represent management’s current expectations and are inherently uncertain. There are a number of important factors that could materially impact the value of the MCC’s common stock or cause actual results to differ materially from those indicated by such forward-looking statements. These important factors include, but are not limited to, the ability of the Company to assemble the new internalized management team as contemplated; the ability of the new internalized management team to execute on its financial and investment strategies; the ability of the Company to realize savings and other efficiencies from the replacement of the current external management team with the new internal management structure, and uncertainties as to the amount and timing of any such savings; and other important factors discussed under the caption “Risk Factors” in Part 1. Item 1A of MCC’s Form 10-K for the fiscal year ended September 30, 2019, and its other reports filed with the Securities and Exchange Commission. These factors, among others, could cause actual results to differ materially from those indicated by forward-looking statements made in this press release and presented elsewhere by management from time to time. While MCC may elect to update such forward-looking statements at some point in the future, MCC disclaims any obligation to do so, even if subsequent events cause its views to change. These forward-looking statements should not be relied upon as representing the views of the Company as of any date subsequent to the date of this press release.

SOURCE: Medley Capital Corporation

Investor Relations Contact:
Sam Anderson
Head of Capital Markets & Risk Management
Medley Management Inc.
212-759-0777

Media Contact:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co. LP
212-257-4170



Manchester United Plc Update on Cyber Security Breach

Manchester United Plc Update on Cyber Security Breach

MANCHESTER, England–(BUSINESS WIRE)–
Manchester United Plc (NYSE: MANU) can confirm that the club has experienced a cyber attack on its systems. The club has taken swift actions to contain the attack and is currently working with expert advisers to investigate the incident and minimize the ongoing IT disruption.

Although this is a sophisticated operation by organized cyber criminals, the club has extensive protocols and procedures in place for such an event and had rehearsed for this risk. Our cyber defenses identified the attack and shut down affected systems to contain the damage and protect data.

Club media channels, including our website and mobile app, are unaffected and we are not currently aware of any breach of personal data associated with our fans or customers. All critical systems required for matches to take place at Old Trafford remain secure and operational and tomorrow’s game against West Bromwich Albion will go ahead.

Investor Relations:

Corinna Freedman

Head of Investor Relations

+44 161 868 8431

[email protected]

Media Relations:

Charlie Brooks

Director of Communications

+44 788 126 8501

[email protected]

KEYWORDS: United Kingdom Europe

INDUSTRY KEYWORDS: Sports Soccer

MEDIA:

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CAPREIT to Expand Presence in Strong Ottawa Market

TORONTO, Nov. 20, 2020 (GLOBE NEWSWIRE) — Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has waived conditions and will acquire two properties located in Ottawa, Ontario, aggregating 380 suites. CAPREIT will pay $95.5 million for the properties, funded by cash. Residential occupancy in the portfolio currently stands at 98.7%. Closing is anticipated on or before November 30, 2020.

The first property, a 50-suite apartment building located at 141 Augusta Street, in downtown Ottawa, is a short walk from the historic Byward Market, Rideau Center, and other local shopping. The property is also close to schools and the University of Ottawa. The building is in good condition, with the potential to add further value under CAPREIT’s capital expenditure program.

The second property, known as Surrey Place & Hunter’s Point, includes 330 three- and four-bedroom townhomes ideal for families. Located in the popular Gloucester neighbourhood of Ottawa, residents are close to green space, retail shopping, schools, and universities. The townhome units include spacious floorplans with backyards, as well as a communal swimming pool and playground. The property is also in excellent condition and stands to realize incremental value under CAPREIT’s management.

“These Ottawa acquisitions are an excellent example of our asset allocation strategy to target mid-tier residential properties in strong Canadian rental markets where our experience will generate increased value for our Unitholders over the long term,” commented Mark Kenney, President and CEO.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

CAPREIT TO EXPAND PRESENCE IN STRONG OTTAWA MARKET

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BOUT CA
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As Canada’s largest publicly-traded provider of quality rental housing, CAPREIT currently owns or has interests in approximately 66,700 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada, in the Netherlands and Ireland. For more information about CAPREIT, its business and its investment highlights, please visit our website at www.caprent.com or www.capreit.net.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

All statements in this press release that do not relate to historical facts constitute forward-looking statements. These statements represent CAPREIT’s intentions, plans, expectations and beliefs and are subject to certain risks and uncertainties that could result in actual results differing materially from these forward-looking statements. These risks and uncertainties are more fully described in regulatory filings that can be obtained on SEDAR at www.sedar.com.

For more information, please contact:

CAPREIT
Mr. Michael Stein
Chairman
(416) 861-5788
CAPREIT
Mr. Mark Kenney
President & CEO
(416) 861-9404
CAPREIT
Mr. Scott Cryer
Chief Financial Officer
(416) 861-5771



Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against K12, Inc. (LRN)

NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against K12, Inc. (“K12” or the “Company”) (NYSE: LRN) in the United States District Court for the Eastern District of Virginia on behalf of those who purchased or acquired the securities of K12 between April 27, 2020 to September 18, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for K12 investors under the federal securities laws.

The Complaint alleges that K12 made false and misleading statements and failed to disclose that: (1) K12 lacked the technological capabilities, infrastructure, and expertise to support the increased demand for virtual and blended education necessitated by the global pandemic; (2) K12 lacked adequate cyberattack protocols and protections to prevent the disabling of its computer systems; (3) K12 was unable to provide the necessary levels of administrative support and training to teachers, students, and parents; (4) and K12’s officers lacked a reasonable basis for their positive statements about the Company’s business, operations, and prospects.

On August 26, 2020, reports emerged that K12’s training for teachers in Miami-Dade County Public Schools, one of the largest school districts in the country, had been ineffective and unacceptable. On this news, K12’s shares fell by 7% over the course of two trading days, to close at $37.70 on August 27, 2020.

When classes in Miami-Dade started on August 31, 2020, K12’s platform experienced major technical issues, disruptions, and a series of cyberattacks. In response, the district’s superintendent revealed that the district had never executed its $15.3 million contract with K12. On this news, the price of K12 shares fell by 10.5% over the course of two trading days, to close at $34.89 on September 3, 2020.

A week later, facing overwhelming complaints from parents and teachers about K12’s platform and curriculum, the Miami-Dade County Public Schools Board voted to terminate their contract with K12. On this news, the price of K12 common shares once again fell drastically, by 11.5%, to close at $30.55 on September 10, 2020.

Other school districts also discovered K12’s inability to deliver on its promises. On September 17, 2020, following a loss of confidence in K12’s ability to provide educational solutions for the district, the Beaufort County School Board also voted to terminate its contract with K12. On this news, the price of K12’s shares fell 4.9%, to close at $27.21 on September 18, 2020.

Investors who purchased or otherwise acquired shares of K12 during the Class Period should contact the Firm prior to the January 19, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.



IIROC Trading Halt – SOFT

Canada NewsWire

VANCOUVER, BC, Nov. 20, 2020 /CNW/ – The following issues have been halted by IIROC:

Company: Softlab9 Technologies Inc.

CSE Symbol: SOFT

All Issues: Yes

Reason: At the request of the Company Pending News

Halt Time (ET): 4:26 PM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

Mannatech Declares Special 2020 Dividend

Mannatech Declares Special 2020 Dividend

FLOWER MOUND, Texas–(BUSINESS WIRE)–Mannatech, Incorporated(NASDAQ: MTEX), a global health and wellness company committed to transforming lives to make a better world, announced that its Board of Directors declared a cash dividend of $1.16 per share of common stock, payable on Wednesday, December 30, 2020, to shareholders of record at the close of business on Wednesday, December 16, 2020. This dividend combines the quarterly dividend amount of $0.16 per share with a special dividend amount of $1.00 per share and demonstrates the Company’s commitment to rewarding shareholders and encouraging long-term investment in Mannatech’s common stock.

Alfredo “Al” Bala, President and CEO of Mannatech, said, “Mannatech is fully committed to delivering value to our shareholders, as confirmed by this special dividend.”

About Mannatech

Mannatech, Incorporated is committed to transforming lives through the development of high quality integrated health, weight management, fitness and skin care products distributed through its global network of independent associates and members. The company has been operating for more than 25 years with operations in 25 markets^. For more information, visit Mannatech.com.

^ Mannatech operates in China under a cross-border e-commerce platform that is separate from its network marketing model.

 

Please Note: This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as “may,” “will,” “should,” “hope,” “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “approximates,” “predicts,” “projects,” “potential,” and “continues” or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech’s objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, the outbreak of the novel coronavirus (“COVID-19”) pandemic, Mannatech’s inability to attract and retain associates and members, increases in competition, litigation, regulatory changes, and its planned growth into new international markets. Although Mannatech believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.

 

 

Donna Giordano

972-471-6512

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Cosmetics Retail Fitness & Nutrition Health

MEDIA:

YY LOSSES ALERT: Bernstein Liebhard LLP Announces Investigation of JOYY Inc.

PR Newswire

NEW YORK, Nov. 20, 2020 /PRNewswire/ — Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of JOYY Inc.,  (“JOYY” or the “Company”) (NASDAQ: YY) resulting from allegations that  JOYY might have issued misleading information to the investing public.

If you purchased JOYY securities, and/or would like to discuss your legal rights and options please visit JOYY Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

On November 18, 2020, Muddy Waters Research, an equity research firm, published a report about JOYY titled: “YY: You Can’t Make This Stuff Up.  Well… Actually You Can.”   The Muddy Waters Research Report detailed a series of problems with JOYY.  Specifically, the report stated that the Company is a multibillion-dollar fraud” whose component businesses are a “fraction of the size it reports.”  The Muddy waters report also noted that JOYY’s “reported user metrics, revenues and cash balances are predominantly fraudulent.”

On this news, JOYY American depositary shares (“ADSs”) price fell $26.53 per ADS, or 26% to close at $73.66 per ADS on November 18, 2020.

If you purchased JOYY securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/joyyinc-yy-shareholder-class-action-lawsuit-stock-fraud-334/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

Matthew E. Guarnero

Bernstein Liebhard LLP
http://www.bernlieb.com   
(877) 779-1414
[email protected] 

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SOURCE Bernstein Liebhard LLP