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THOMASVILLE, Ga., Nov. 13, 2020 /PRNewswire/ — Flowers Foods, Inc. (NYSE: FLO), producer of Nature’s Own, Dave’s Killer Bread, Wonder, Tastykake, and other bakery foods, today announced that its board of directors has declared a quarterly dividend of $0.20 per share, an increase of 5.3% over the same quarter last year. This is the 73rd consecutive quarterly dividend paid by the company and is payable on December 11, 2020 to shareholders of record on November 27, 2020.

About Flowers Foods

Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is one of the largest producers of packaged bakery foods in the United States with 2019 sales of $4.1 billion. Flowers operates bakeries across the country that produce a wide range of bakery products. Among the company’s top brands are Nature’s Own, Dave’s Killer Bread, Wonder, and Tastykake. Learn more at www.flowersfoods.com.

FLO-CORP FLO-IR

Forward-Looking Statements

Statements contained in this press release that are not historical facts are forward-looking statements. Forward-looking statements relate to current expectations regarding our future financial condition, performance and results of operations and the ultimate impact of the novel strain of coronavirus (COVID-19) pandemic on our business, results of operations and financial condition, planned capital expenditures, long-term objectives of management, supply and demand, pricing trends and market forces, and integration plans and expected benefits of transactions and are often identified by the use of words and phrases such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” “would,” “is likely to,” “is expected to” or “will continue,” or the negative of these terms or other comparable terminology. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Other factors that may cause actual results to differ from the forward-looking statements contained in this release and that may affect the company’s prospects in general include, but are not limited to, (a) the ultimate impact of the COVID-19 pandemic and measures taken in response thereto, including, among other things, temporary or ongoing bakery closures, on our business, results of operations and financial condition, which are highly uncertain and are difficult to predict, (b) general economic and business conditions and the competitive conditions in the baked foods industry, including promotional and price competition, (c) changes in consumer demand for our products, including changes in consumer behavior, trends and preferences, including health and whole grain trends, and the movement toward more inexpensive store-branded products, (d) the success of productivity improvements and new product introductions, (e) a significant reduction in business with any of our major customers including a reduction from adverse developments in any of our customer’s business, (f) fluctuations in commodity pricing, (g) energy and raw material costs and availability and hedging and counterparty risk, (h) our ability to fully integrate recent acquisitions into our business, (i) our ability to achieve cash flow from capital expenditures and acquisitions and the availability of new acquisitions that build shareholder value, (j) our ability to successfully implement our business strategies, including those strategies the company has initiated under Project Centennial, which may involve, among other things, the deployment of new systems and technology and an enhanced organizational structure; (k) our ability to integrate recent acquisitions or the acquisition or disposition of assets at presently targeted values, (l) consolidation within the baking industry and related industries, (m) disruptions in our direct-store delivery system, including litigation or an adverse ruling from a court or regulatory or government body that could affect the independent contractor classification of our independent distributors, (n) increasing legal complexity and legal proceedings that we are or may become subject to, (o) product recalls or safety concerns related to our products, and (p) the failure of our information technology systems to perform adequately, including any interruptions, intrusions or security breaches of such systems or risks associated with the planned implementation of a new enterprise resource planning system. The foregoing list of important factors does not include all such factors, nor necessarily present them in order of importance. In addition, you should consult other public disclosures made by the company, including the risk factors included in our most recently filed Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) and disclosures made in other filings with the SEC and company press releases, for other factors that may cause actual results to differ materially from those projected by the company. We caution you not to place undue reliance on forward-looking statements, as they speak only as of the date made and are inherently uncertain. The company undertakes no obligation to publicly revise or update such statements, except as required by law.

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SOURCE Flowers Foods, Inc.

NEW YORK, Nov. 13, 2020 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced the publication of positive results from a study of antiviral activity of FDA approved drugs in a peer-reviewed article in the Proceedings of the National Academy of Sciences of the United States of America (PNAS).  The publication reports studies on newly discovered antiviral compounds that were developed using a computer modeling approach.  The lead compounds were found to have broad-spectrum antiviral activity, inhibiting influenza virus, Ebola, Marburg, MERS-CoV, SARS-CoV, and SARS-CoV2, the virus that causes COVID-19.

Mr. Anthony Hayes, CEO of AIkido stated, “The results of this peer reviewed study provide encouraging data for Company’s newly licensed compounds. I am particularly excited with the data that demonstrates inhibition of SARS-CoV2 by the lead compounds.  This represents yet another solid validation of University of Maryland, Baltimore’s (UMB) antiviral platform, to which we are the exclusive licensee.  In addition, this article provides a significant amount of substantive information about the technology we have licensed from UMB.  I encourage our shareholders who want more information about the technology to review the article.”

The full article is available at https://www.pnas.org/content/early/2020/11/11/2012939117

The Company previously executed a Master License Agreement with UMB for specific antiviral compounds discovered by UMB that seek to inhibit replication of multiple viruses, including Influenza virus, SARS-CoV, SARS-CoV2, MERS-CoV, Ebolavirus and Marburg virus. The technology is covered by two patent applications already on file with the United States Patent and Trademark Office. The Company previously executed a Sponsored Research Agreement with UMB to support the development of the technology.

About AIkido Pharma Inc.

AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology.  The Company is also developing a broad-spectrum antiviral platform that may potentially inhibit replication of multiple viruses including Influenza virus, SARS-CoV (coronavirus), MERS-CoV, Ebolavirus and Marburg virus.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:      

Hayden IR
Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: [email protected] 
www.haydenir.com

AIkido Pharma Inc.:   

Phone: 212-745-1373
Email: [email protected] 
www.aikidopharma.com

 

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SOURCE AIkido Pharma Inc.

CARLSBAD, Calif., Nov. 13, 2020 /PRNewswire/ — Qualigen Therapeutics, Inc. (Nasdaq: QLGN) announces that Michael Poirier, President, Chief Executive Officer and Chairman, has issued a letter to Qualigen’s stockholders. The full text is as follows:

To My Fellow Stockholders,

Since our last business update in August, Qualigen Therapeutics has made significant progress in advancing our strategic plan, including the following highlights:

AS1411. We are excited to be moving forward with our lead compound AS1411, a nucleolin-targeting DNA aptamer drug candidate for the treatment of COVID-19 and other viruses. Preclinical research conducted at the University of Louisville (UofL) has demonstrated that AS1411 has potent antiviral activity against SARS-CoV-2, the coronavirus responsible for COVID-19.  Importantly, we believe AS1411 holds potential as a broad antiviral therapeutic agent, which could significantly expand its applications and commercial potential.

In October 2020, we received a positive response to our Pre-Investigational New Drug (Pre-IND) application meeting request from the U.S. Food and Drug Administration (FDA) that is in general agreement with our planned clinical development of AS1411 for the treatment of COVID-19. We are pleased with the FDA’s response and plan to move forward with filing the IND application in order to initiate a Phase 2a clinical trial in the first half of calendar year 2021.

Like everyone else, we are heartened by news of recent advancements with COVID-19 vaccines; however, we believe there will still be a long-term and significant market opportunity for innovative therapies such as AS1411 to treat COVID-19 and other viral-based respiratory diseases.  Furthermore, we believe that the urgency placed on regulators to advance potential therapies for COVID-19, in addition to vaccines, may provide us an accelerated path to potential approval of our first drug candidate. The data and infrastructure resulting from this may, in turn, serve to streamline subsequent clinical trials for additional indications for AS1411 to combat other viruses, both currently known and those that might affect us in the future.    

In this regard, we entered into manufacturing agreements with STA Pharmaceutical Co., Ltd., a subsidiary of WuXi AppTec, and with IRISYS LLC in order to ensure adequate supply of AS1411 for our anticipated clinical trials. We believe that if AS1411 is approved by the FDA for commercial usage, these manufacturing agreements will help assure an efficient and large-scale rollout of this product.

Finally, to further enhance our AS1411 intellectual property portfolio, we jointly filed a U.S. provisional patent application entitled “Methods of inhibiting or treating coronavirus infection, and methods for delivering an anti-nucleolin agent” with UofL.  If AS1411 can successfully serve as a protective defense (or prophylaxis) against, as well as treat, COVID-19 or other viral-based diseases, such as seasonal influenza, this would be a very exciting usage for our technology.  We believe that for use as a prophylaxis, AS1411 could be administered by means of inhalers, nose spray or eye drops to individuals who have recently come in contact with SARS-CoV-2, or are at high risk of contracting the virus.  

ALAN, RAS-F and STARS™.  The balance of our therapeutic pipeline primarily focuses on fighting cancer, and we continue to make progress with each of our drug and device candidates.

• Expanded research agreement with UofL for ALAN cancer drug candidate. In October 2020, we announced an amended sponsored research agreement with UofL to advance ALAN (the AS1411 aptamer attached to a gold nanoparticle). UofL will perform preclinical studies on acute myeloid leukemia and we aim to file an IND and initiate a Phase 1 clinical trial later in calendar year 2021. Additionally, UofL will perform studies on other indications including glioblastoma, a malignant brain cancer that is difficult to treat because most drugs cannot pass the blood-brain membrane, and non-small cell lung cancer, which comprises approximately 85% of the 1.6 million global lung cancer cases each year.

• Signed exclusive license agreement with UofL for RAS interaction inhibitor drug candidates. In July 2020, we signed an exclusive worldwide license agreement with UofL for the intellectual property covering the RAS-F family of RAS oncogene protein-protein interaction inhibitor small molecule drug candidates. We continue to work with UofL to evaluate these compounds and identify a lead drug candidate to stop tumor growth, especially in pancreatic, colorectal and lung cancers.  Although drugs that target downstream signaling of RAS are available, they have shown limited clinical activity, most likely because RAS acts like a hub that activates multiple effectors. As such, blocking any single pathway, or even two, typically provides disappointing clinical effect. By contrast, the intended mechanism of action for the RAS-F small molecules is to inhibit or block the binding of mutated RAS to their effector proteins, thereby leaving the proteins from mutated RAS unable to cause further harm. 

• Issuance of STARS technology U.S. patent. In August 2020, the United States Patent and Trademark Office issued patent No. 10,744,258 entitled “Devices and Methods for On-Line Whole Blood Treatment” regarding our Selective Target Antigen Removal System (STARS) technology. STARS is a DNA/RNA-based treatment for the removal of viral and tumor-produced compounds from a patient’s blood. While still early in development, this technology is based on the core, commercialized science behind our FastPack® products, and could have widespread application.

FastPack® diagnostic products. As of the date of this letter, communications with the FDA concerning the requested Emergency Use Authorization for our FastPack COVID-19 antibody test indicate that our regulatory review is still in queue.  We are confident that the data we have provided to the FDA show that our test meets or exceeds the efficacy guidelines for approval of an EUA, and we are frustrated by the unusually long delay.  We still believe that a rapid, accurate, point-of-care testing system like FastPack would be beneficial as vaccines for COVID-19 – which generate antibodies for limited periods of time – begin release in 2021.     

Furthermore, we have made important strategic moves recently to advance distribution and next-generation versions of our core FastPack “laboratory in a pouch” technology.  In October 2020, we entered into a commercialization agreement with China’sYi Xin Zhen Duan Jishu (Suzhou) Ltd. for them to develop, manufacture and sell new generations of diagnostic test systems based on FastPack.  In addition, Yi Xin Zhen Duan Jishu will have rights to manufacture and sell our current generations of FastPack products in China. We were pleased to enter this agreement as it provides non-dilutive upfront funding plus potential future royalties, and China is a region we would not otherwise have entered with FastPack.

Corporate updates. In August 2020, we welcomed Amy Broidrick to our Board of Directors.  Ms. Broidrick’s background includes key roles in the successful worldwide launches and marketing of such notable drugs as VYTORIN®, Zetia® and Celebrex®. It is already evident she will be a valuable asset to Qualigen given her expertise in corporate development, marketing and business innovation with global organizations, as well as with small-cap companies.

Lastly, to fund the continued development of our pipeline, we raised $18 million in two registered-direct offerings under separate purchase agreements in July and August 2020.  With a cash balance of $14.5 million as of September 30, 2020, we believe Qualigen has the necessary capital to fund our clinical trial for AS1411 and to advance our pipeline through calendar year 2021.  Additionally, we continue to be opportunistic and evaluate strategic relationships that provide potential to enhance our pipeline in oncology and build long-term shareholder value. 

As I mentioned, we are delighted with our progress to date and are very excited about our momentum and Qualigen’s future prospects. I would like to thank our employees for their outstanding efforts and commitment, and our investors for their continued support.

Sincerely,

Michael Poirier

President, Chief Executive Officer and Chairman

Financial Results for the Fiscal Second Quarter Ended September 30, 2020

Total revenues for the three months ended September 30, 2020 were $0.8 million compared with $1.2 million for the same period in 2019, with all revenues in both periods derived from the sale of diagnostic products. The decrease was primarily due to fewer tests performed as the COVID-19 pandemic resulted in a decrease in patient non-emergency visits to physician offices, clinics and small hospitals.

General and administrative expense was $2.7 million for the three months ended September 30, 2020 compared with $0.2 million for the prior-year period. The difference is largely attributable to the addition of expenses associated with operating as a publicly traded company in the current period.

Research and development expense was $0.9 million for the three months ended September 30, 2020 compared with $0.2 million for the prior-year period. The increase is related to advancing Qualigen’s therapeutic pipeline and work on its COVID-19 antibody diagnostic test and FastPack PRO instrument.

Loss from operations for the three months ended September 30, 2020 increased to $3.7 million from $0.3 million for the prior-year period.  Net loss for the three months ended September 30, 2020 was $8.1 million, or $0.41 per share, compared with a net loss of $0.4 million, or $0.06 per share, for the same period of 2019.  Net loss for the 2020 period included non-cash charges of $4.4 million related to the change in fair value of warrant liabilities, as well as additional non-cash charges totaling $1.2 million for stock-based compensation expense.

Financial Results for the Six Months Ended September 30, 2020

Total revenues for the six months ended September 30, 2020 were $1.7 million compared with $2.7 million for the same period in 2019, with all revenues in both periods derived from the sale of diagnostic products. The decrease was primarily due to fewer tests performed as the COVID-19 pandemic resulted in a decrease in patient non-emergency visits to physician offices, clinics and small hospitals.

General and administrative expense was $4.6 million for the six months ended September 30, 2020 compared with $0.5 million for the prior-year period. The increase is largely attributable to the addition of expenses associated with operating as a publicly traded company in the current period.

Research and development expense was $1.5 million for the six months ended September 30, 2020 compared with $0.9 million for the prior-year period. The difference is primarily related to increased spending for the therapeutic pipeline.

Loss from operations for the six months ended September 30, 2020 increased to $6.3 million from $0.8 million for the prior-year period.  Net loss for the six months ended September 30, 2020 was $26.7 million, or $1.87 per share, compared with a net loss of $1.0 million, or $0.17 per share, for the same period of 2019.  Net loss for the 2020 period included non-cash charges of $20.6 million related to the change in fair value of warrant liabilities, as well as additional non-cash charges totaling $1.6 million for stock-based compensation expense.

Qualigen had cash and cash equivalents of $14.5 million as of September 30, 2020, as a result of the $18 million in gross proceeds raised during the second quarter of fiscal year 2021. The Company believes its cash and cash equivalents are sufficient to fund its anticipated operations through calendar year 2021.

About Qualigen Therapeutics, Inc.
Qualigen Therapeutics, Inc. is a biotechnology company focused on developing novel therapeutics for the treatment of cancer and infectious diseases, as well as maintaining and expanding its core FDA-approved FastPack® System, which has been used successfully in diagnostics for almost 20 years. The Company’s cancer therapeutics pipeline includes ALAN (AS1411-GNP), RAS-F and STARS™. ALAN (AS1411-GNP) is a DNA coated gold nanoparticle cancer drug candidate that has the potential to target various types of cancer with minimal side effects. The foundational nucleolin-targeting DNA aptamer of ALAN, AS1411, is also being studied as a drug candidate for use in treating COVID-19 and other viral-based infectious diseases.   RAS-F is a family of RAS oncogene protein-protein interaction inhibitor small molecules for preventing mutated RAS genes’ proteins from binding to their effector proteins; preventing this binding could stop tumor growth, especially in pancreatic, colorectal and lung cancers. STARS is a DNA/RNA-based treatment device candidate for removal from circulating blood of precisely targeted tumor-produced and viral compounds. Because Qualigen’s therapeutic candidates are still in the development stage, Qualigen’s only products that are currently commercially available are FastPack System diagnostic instruments and test kits, used in physician offices, clinics and small hospitals around the world. The FastPack System menu includes rapid point-of-care diagnostic tests for cancer, men’s health, hormone function, vitamin D status and antibodies against SARS-CoV-2.  Qualigen’s facility in Carlsbad, California is FDA and ISO Certified and its FastPack product line is sold worldwide by its commercial partner Sekisui Diagnostics, LLC. For more information on Qualigen Therapeutics, Inc., please visit https://www.qualigeninc.com/.  

Forward-Looking Statements

This news release contains forward-looking statements by the Company that involve risks and uncertainties and reflect the Company’s judgment as of the date of this release. These statements include those related to potential future development, testing, efficacy, approval, manufacturing and commercialization of product candidates, including the possible effectiveness of AS1411 against COVID-19 or other viral infections. Actual events or results may differ from the Company’s expectations. For example, there can be no assurance that clinical trials will be approved to begin by or will proceed as contemplated by any projected timeline; that the Company will successfully develop any drugs or therapeutic devices; that preclinical or clinical development of the Company’s drugs or therapeutic devices will be successful; that future clinical trial data will be favorable or that such trials will confirm any improvements over other products or lack negative impacts; that any drugs or therapeutic devices will receive required regulatory approvals or that they will be commercially successful; that patents will issue on the Company’s owned and in-licensed patent applications; that such patents, if any, and the Company’s current owned and in-licensed patents would prevent competition; that the Company will be able to procure or earn sufficient working capital to complete the development, testing and launch of the Company’s prospective therapeutic products; that the Company will be able to maintain or expand market demand and/or market share for the Company’s diagnostic products generally, particularly in view of COVID-19-related  deferral of patients’ physician-office visits and FastPack reimbursement pricing challenges; that adoption and placement of FastPack PRO System instruments (which are the only FastPack instruments on which the Company’s SARS-CoV-2 IgG test kits can be run) will be widespread; that the Company will be able to manufacture the FastPack PRO System instruments and SARS-CoV-2 IgG test kits successfully; that any commercialization of the FastPack PRO System instruments and SARS-CoV-2 IgG test kits will be profitable; or that the FDA will ultimately approve an Emergency Use Authorization for the Company’s SARS-CoV-2 IgG test.  The Company’s stock price could be harmed if any of the events or trends contemplated by the forward-looking statements fails to occur or is delayed or if any actual future event otherwise differs from expectations. Additional information concerning these and other risk factors affecting the Company’s business (including events beyond the Company’s control, such as epidemics and resulting changes) can be found in the Company’s prior filings with the Securities and Exchange Commission, available at www.sec.gov.  The Company disclaims any intent or obligation to update these forward-looking statements beyond the date of this news release, except as required by law. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

—Tables to Follow—

 

 

 

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SOURCE Qualigen, Inc.

CUPERTINO, Calif., Nov. 13, 2020 /PRNewswire/ — DURECT Corporation (Nasdaq: DRRX) today presented additional safety data and efficacy signals from its Phase 1b clinical trial of DUR-928 in nonalcoholic steatohepatitis (NASH) patients in a poster presentation at The AASLD Liver Meeting Digital Experience ™ (TLMdX) 2020.

“The additional safety and efficacy data presented, including improvements in multiple biomarkers of liver health such as a significant reduction in cytokeratin-18 among the patients who also experienced at least a 10% reduction in liver fat, continue to strengthen the promising profile of DUR-928 for NASH,” stated Eric Lawitz, M.D., Texas Liver Institute, University of Texas Health San Antonio and principal investigator of the study. “Together with previously reported overall global reduction from baseline of liver enzymes, liver fat, stiffness as measured by imaging and serum lipids, this additional biomarker data suggests that epigenetic modulation by DUR-928 is worthy of further study in NASH patients.”

James E. Brown, D.V.M., President and CEO of DURECT, added, “The safety and efficacy profiles demonstrated with DUR-928 not only in this NASH trial but in our Phase 2a trial in alcoholic hepatitis, demonstrate potential of this epigenetic regulator to treat multiple acute organ injury and chronic liver diseases. We look forward to continuing the evaluation of DUR-928 in our clinical studies and potentially bringing a life-saving treatment option to patients in need.”

Data presented at The Liver Meeting further demonstrated that DUR-928 was well tolerated at all three doses (50mg, 150mg, and 600mg) with no serious adverse events reported.

Improvements in Biomarkers Data Summary (Day 28 vs Baseline)

% change from baseline at the end of dosing (median at day 28)

Biomarker Data Along With Previously Reported Improvements in Liver Enzymes, Imaging and Serum Levels (Day 28 vs Baseline)

* Indicates p-value <0.05; ** indicates p < 0.01; *** indicates p <0.001

ALT

 (
alanine aminotransferase); AST (aspartate aminotransferase); GGT (gamma-glutamyl transferase); MRI-PDFF (Magnetic Resonance Imaging – Proton Density Fat Fraction) is a non-invasive measure of the proportion of liver tissue which is composed of fat; FibroScan is a specialized ultrasound machine that measures the stiffness of liver tissue. LDL-C ( Low-Density Lipoprotein – Cholesterol); Non-HDL-C (Total cholesterol excluding High-Density Lipoprotein-Cholesterol); QD (once a day); BID (twice a day); CK-18 (cytokeritin 18)

Additionally, in subjects with baseline triglyceride (TG) levels ≥200mg/dL (n=16), there was a 24% reduction at the end of the 4-week dosing period (p<0.01). 

About DUR-928 Phase 1b Trial

The study was a randomized, open label, multi center US study to evaluate safety, pharmacokinetics and signals of biological activity of DUR-928 in NASH patients with stage 1-3 fibrosis. A total of 65 patients completed the study. DUR-928 was orally administered daily at 50 mg (n=23), 150 mg (n=21), or 600 mg (300 mg BID (n=21)). Patients in this trial were dosed daily for 4 weeks and followed up for an additional 4 weeks.

About DUR-928

DURECT’s lead drug candidate, DUR-928, is an endogenous sulfated oxysterol and an epigenetic regulator. It represents a new class of therapeutics with a unique mechanism of action. DUR-928 epigenetically modulates the expression of multiple clusters of master genes that are involved in many important cell signaling pathways, through which it stabilizes mitochondria, reduces lipotoxicity, regulates inflammatory or stress responses, and promotes cell survival.

About NASH

Nonalcoholic steatohepatitis (NASH) is the most severe and progressive form of nonalcoholic fatty liver disease (NAFLD) and the most common chronic liver disease worldwide, with an estimated prevalence of more than 10% of adults in the United States, Europe, Japan, and other developed countries, expected to double by 2030. No drug is currently approved for treatment of NAFLD or NASH.

About DURECT Corporation

DURECT is a biopharmaceutical company committed to transforming the treatment of acute organ injury and chronic liver diseases by advancing novel and potentially lifesaving therapies based on its endogenous epigenetic regulator program. DUR-928, the company’s lead drug candidate is in clinical development for the potential treatment of alcoholic hepatitis (AH), COVID-19 patients with acute liver or kidney injury, and nonalcoholic steatohepatitis (NASH). DURECT’s proprietary drug delivery technologies are designed to enable new indications and enhanced attributes for small-molecule and biologic drugs. One late-stage product candidate in this category is POSIMIR® (bupivacaine sustained-release solution), an investigational locally-acting, non-opioid analgesic intended to provide up to three days of continuous pain relief after surgery. For more information about DURECT, please visit www.durect.com and follow us on Twitter https://twitter.com/DURECTCorp.

DURECT Forward-Looking Statement

The statements in this press release regarding clinical development plans for DUR-928, including the potential use of DUR-928 to treat COVID-19 patients with liver or kidney injury, the potential use of DUR-928 to treat acute organ injuries, such as AH, and chronic liver diseases, such as NASH, the life saving potential of DUR-928, and the potential use of POSIMIR to provide pain relief after surgery are forward-looking statements involving risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the risks that the clinical trial of DUR-928 in COVID-19 patients is delayed or stopped because of changes to the standard of care, the availability of alternative therapies, protocol changes or lack of available patients, the risk that future clinical trials of DUR-928 are not started when anticipated, take longer to conduct than anticipated, do not confirm the results from earlier clinical or pre-clinical trials, or do not demonstrate the safety or efficacy or the life saving potential of DUR-928 in a statistically significant manner, the risk that the FDA will not approve POSIMIR or approve POSIMIR with a limited label, the risk that additional time and resources may be required for development, testing and regulatory approval of DUR-928 or the Company’s other product candidates, potential adverse effects arising from the testing or use of our drug candidates, our potential failure to maintain our collaborative agreements with third parties and risks related to our ability to obtain capital to fund operations and expenses. Further information regarding these and other risks is included in DURECT’s Form 10-Q filed on November 3, 2020 under the heading “Risk Factors.”

NOTE: POSIMIR^® and SABER^® are trademarks of DURECT Corporation.  Other referenced trademarks belong to their respective owners.  DUR-928 and POSIMIR are investigational drug candidates under development and have not been approved for commercialization by the U.S. Food and Drug Administration or other health authorities for any indication.

 

 

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SOURCE DURECT Corporation

PHILADELPHIA, Nov. 13, 2020 /PRNewswire/ — Integrated Ventures Inc. (OTCQB: INTV), (“Company”) is pleased to confirm the filing of Q1/2021, after the today’s market close, for financial period, ended September 31, 2020.

Key Q1 Financial Highlights:

• Total Revenues ——- The Company generated total revenues of $220,754.00 (Q12021) vs $107,564.00 (Q1/2020). Revenues consisted of (1) mining revenues of $67,337.00 (*), (2) sales of mining equipment of $14,890.00 (**) and gain on sales of digital currencies of $138,527.00 (***).
• Current Liabilities ——— The Company reported total current liabilities of $668,217.00, with only $100,356.00 that will require cash payment.
• Net Loss ——— The Company reported net loss of $387,778.00, mainly due to reporting expenses of (1) $207,282.00, due to disposition of retired mining equipment and (2) interest expense, on convertible debt funding, of $100,872.00.
• Loss Per Share ——— The Company reported $0.00 net loss per common share
• Operating Expenses ——— The Company reported that its total operating and administrative expenses were $99,717.00.
• Total Cash ——— The Company reported that the ending cash balance was $102,435.00.
• Total Assets ——— The Company reported that the total assets were $562,325.00.

(*) (**) See page 5 (noted in Condensed Statements of Operations Table).

(***) See page 25 (noted in paragraph 2, under Other Income Table ).

The Company is pleased to provide the following comments:

• Mining revenues reported were lower due to (1) BTC halving event, which reduced mining rewards by around 50% and (2) less mining rigs connected due to the retirement of all Antminer S9 and Antminer L3 miners.
• The Company was able to off set lower mining revenues, with the gain on sales of digital currencies.
• Integrated Ventures had executed three (3) Letters of Intent, during Q4/2020 and Q1/2021. As of 11/15/2020, the Company does not have any active discussions, in terms of entering into any definitive agreements.

About: Integrated Ventures,Inc.is Technology Portfolio Holdings Company with focus on Blockchain Technology and Cryptocurrency Mining.

For more details, please visit the Company’s website: www.integratedventuresinc.com.

Safe Harbor Statement: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, and various other factors beyond the company’s control.

Contact:

Steve Rubakh, +1 (215) 613-1111, [email protected]

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SOURCE Integrated Ventures Inc.

SAN FRANCISCO, Nov. 13, 2020 /PRNewswire/ — Globant (NYSE: GLOB), a digitally-native technology services company, today announced the launch of the Sustainable Business Studio to help its clients create business legitimacy in today’s new green economy. The Sustainable Business Studio operates at the intersection of digital technology and sustainability – focusing on bringing together new know-how, expertise and competence for Globant clients. It will provide organizations and stakeholders with the tools to support climate action and perform as responsible businesses.

“As we evolve our organization, we believe that we have a commitment to helping our clients reinvent themselves. For a long time, the concept of sustainability has focused mostly on environmental issues, but we believe that global sustainable development should take into consideration a holistic approach where people, profit and planet are interconnected. This calls for a new methodology, one that we will be addressing with the new Sustainable Business Studio,” said Martín Migoya, Globant CEO and co-founder. 

Globant appointed Elena Morettini, a geologist with a PhD in Isotope Geochemistry and an extensive RD&D background in the energy industry, to lead the Studio. Morettini is ready to face the challenge of the convergent journey between digitalization and sustainability. 

“We are entering the so-called decade of action to urgently cope with climate change, meaning we need to readjust and rethink mindsets and practices in favor of business legitimacy,” said Elena Morettini, Director of Globant’s Sustainable Business Studio. “We need a new code of conduct for each and every business that’s based on climate change awareness, transparency and sustainable strategies in respect to people and planet.”

The Sustainable Business Studio’s practices include:

• E-missions – Provides technical expertise, digital tools and fundamental organizational-wide changes to support clients on a path to certifying carbon neutrality.
• Sustainability today – Fosters cultural transformation and maturity through collaborative practices that honor sustainability, diversity, and inclusion. It includes consulting and training for senior executives and organizational-wide training programs to promote the essential cultural change.
• Up with climate – Globant offers an analysis of climate material risks and opportunities.  The Studio produces diagnosis and reports on environmental, social, and corporate governance (ESG), and climate due diligence.

To learn more about  Sustainable Business Studio, visit our website.

About Globant:
We are a digitally native company where innovation, design and engineering meet scale. We use the latest technologies in the digital and cognitive field to transform organizations in every aspect.

• We have more than 14,300 employees and we are present in 16 countries working for companies like Google, Rockwell Automation, Electronic Arts and Santander, among others.
• We were named a Worldwide Leader in CX Improvement Services by IDC’s MarketScape report.
• We were also featured as a business case study at Harvard, MIT, and Stanford.
• We are a member of the Cybersecurity Tech Accord.

For more information, visit www.globant.com.

CONTACT: [email protected]

 

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SOURCE Globant

(TSXV: HAPB)

VANCOUVER, BC, Nov. 13, 2020 /PRNewswire/ – Hapbee Technologies, Inc. (TSXV: HAPB) (“Hapbee“ or the “Company“), a wellness technology company developing the revolutionary Hapbee wearable, is pleased to welcome Mr. Brian Mogen, Ph.D. as Chief Scientific Officer and Mr. Pat Murray as Vice President of Product Development.

“Hapbee is at an exciting stage in its growth strategy, one in which we are focused on enhancing our product offering and optimizing our manufacturing capabilities,” said Scott Donnell, Chief Executive Officer of Hapbee. “Brian and Pat bring years of valuable experience to Hapbee that will allow us to accelerate these efforts. I believe any technology-rich, consumer focused company needs a Brian and a Pat.”

Brian Mogen, Ph.D.

Chief Scientific Officer

Brian Mogen is an expert in translational science and neuromodulation. Over the course of his career, Dr. Mogen has successfully built next-generation electronics and software platforms in both the medical and non-medical spaces. Previously the co-founder of a data platform for sensor-based digital health delivery, Dr. Mogen serves as Hapbee’s Chief Scientific Officer. In addition to overseeing signal testing and hardware and software development for Hapbee, Dr. Mogen assists with the Company’s R&D and product roadmaps.

Dr. Mogen studied Biomedical Engineering at the University of Wisconsin-Madison and received his Ph.D. in brain-computer interfaces from the University of Washington. He has published numerous research papers in fields such as translational neuroscience, microfluidics, and electronics hardware.

Pat Murray

Vice President of Product Development

Pat Murray is an entrepreneur, producer and inventor. After working in the television and film industry as a special effects artist and systems engineer, Mr. Murray went on to co-found Spectacle, a full-service experiential marketing agency. Today, Spectacle is one of the entertainment industry’s leading experiential design companies, having built and deployed interactive displays and immersive spaces for global clients such as Disney, NBC, Warner Brothers, Fox, Nike, Marvel, Mastercard, Chevron, Toyota, PepsiCo, and many more. As Hapbee’s Vice President of Product Development, Mr. Murray is responsible for managing manufacturing, distribution, and assisting with future product development.

Grant of Options and RSUs

The Company also reports that it has granted 4,779,000 incentive stock options (the “Options“) to officers, directors and consultants of the Company pursuant to the Company’s stock option plan (the “Option Plan“).  The Options are all exercisable at the price of $0.73 per share until November 12, 2028, subject to earlier termination in accordance with the Plan. The grant of Options is subject to regulatory approval.

The Company has also granted an aggregate of 4,910,000 restricted stock units (the “RSUs“) to officers, directors and key employees and consultants.  The RSUs will be subject to vesting provisions. Each vested RSU entitles the holder to receive one common share in the capital of the Company. The grant of RSUs is subject to regulatory approval.

About Hapbee

Hapbee (TSXV: HAPB) is a wearable magnetic field technology company that aims to help people choose how they feel. Powered by patented ultra-low radio frequency energy (ulRFE^®) technology invented and licensed by EMulate Therapeutics, Inc., Hapbee delivers low-power electromagnetic signals designed to produce sensations such as Happy, Alert, Focus, Relax, Calm and Sleepy.

You can learn more about how Hapbee works at www.hapbee.com/science

Forward-Looking Information Disclaimer

Certain statements included in this news release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Any statements about Hapbee’s business plans or its upcoming development targets – including development of the Hapbee smartphone app, manufacturing and shipping for the Indiegogo campaign, research and development of new signals and the Company’s pursuit of a public listing – are all forward-looking information. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including, anticipated costs, and the ability to achieve its goals.

Factors that could cause the actual results to differ materially from those in the forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions, changes in legislation and regulations, increase in operating costs, equipment failures, failure of counterparties to perform their contractual obligations, litigation, the loss of key directors, employees, advisors or consultants and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These risks, uncertainties and assumptions include, but are not limited to, those described in Hapbee prospectus dated October 26, 2020, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there be no assurance that the listing of the common shares of the Company will occur. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.

For more information, visit: www.hapbee.com .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Hapbee Technologies Inc.

Bank is commended for its COVID-19 support and inclusive work environment

TORONTO, Nov. 13, 2020 /CNW/ – For the ninth year in a row, CIBC has been named one of Canada’s Top 100 Employers by Mediacorp Canada Inc. for continuing to provide a supportive and inclusive work environment, and equipping team members with resources and relief throughout the pandemic. In light of COVID-19, a large focus for CIBC has been to provide employees with resources to continue to develop capabilities and support their wellbeing.

“We are honoured to be recognized in a year that presented so many unique challenges to our work environment. We moved quickly to implement measures to keep our team members safe and ensure they’ve had the help and resources they need during this time,” said Sandy Sharman, Senior Executive Vice-President, People, Culture and Brand. “I’m proud of how our teams have adapted and stepped up to take care of each other, our clients and our communities.”

Mediacorp selects Canada’s Top 100 employers based on their success in a number of categories, including employee benefits, training and skills development, community involvement and performance management.

CIBC has also been recognized for supporting innovative solutions that help make communities more inclusive through better employment opportunities and access to education with a focus on persons with disabilities, Indigenous peoples and the Black Community. Additionally, CIBC has been commended for its charitable initiatives, including the Canadian Breast Cancer Foundation’s CIBC Run for the Cure and CIBC Miracle Day in support of children’s charities.

Other recent recognitions for CIBC include:

• Among the Top 5 Safest Banks in North America by Global Finance magazine
• Highest overall score for functionality and user experience among Canadian mobile banking apps in The Forrester Banking Wave™: Canadian Mobile Apps Q2 2019 Report
• One of Canada’s 50 Most Engaged Workplaces by Achievers
• One of Canada’s Top 100 Ideal Employers by Universum
• Among the Top 10 in LinkedIn’s Top Companies in Canada
• Selected for Best Contribution to Student Career Development by TalentEgg
• Among the Best 50 Corporate Citizens in Canada by Corporate Knights
• An Imagine Caring Company

To learn more about careers at CIBC, visit the website here.

About CIBC

CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.

SOURCE CIBC

HANGZHOU, China, Nov. 13, 2020 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) (“Jo-Jo Drugstores” or the “Company”), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced its financial results for the second fiscal quarter ended September 30, 2020.

Mr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores, commented, “We are pleased with our second quarter performance as we delivered another quarter of strong results. Our revenue and gross profit recorded $30.84 million and $7.01 million for the second fiscal quarter of 2021, up 8.8% and 4.8% compared to same period of fiscal year 2020. Revenue year-over-year from online pharmacy increased by 127.4%. We have always been deeply committed to our communities, and we have taken necessary measures to protect the safety and health of our customers and employees during the global COVID-19 pandemic while making solid progress on our transformation strategy of ‘Medical Linkage & Technology Empowerment’. The environment surrounding COVID-19 is accelerating our transformation, giving us new opportunities to demonstrate our capabilities and gain retail market share in China. We are building a strong foundation for sustainable growth and setting the platform to engage with consumers, and we are remaining focused on creating value for all our stakeholders.”  

Second Quarter of Fiscal 2021 Financial Highlights

• Revenue increased by 8.8% to $30.84 million for the three months ended September 30, 2020 from $28.35 million for the same period of last year.
• Gross profit increased by 4.8% to $7.01 million for the three months ended September 30, 2020 from $6.69 million for the same period of last year.
• Gross margin decreased slightly by 0.9 percentage points to 22.7% for the three months ended September 20, 2020 from 23.6% for the same period of last year.
• Net loss was $1.53 million, or $0.04 per basic and diluted share, for the three months ended September 30, 2020, compared to net loss of $1.35 million, or $0.04 per basic and diluted share, for the same period of last year.

Second Quarter of Fiscal 2021 Financial Results

Revenue

Revenue for the three months ended September 30, 2020 increased by $2.49 million, or 8.8%, to $30.84 million from $28.35 million for the same period of last year. The increase in revenue was primarily due to the growth in online pharmacy business.

Revenue from the retail drugstores business decreased slightly by $0.07 million, or 0.4%, to $17.93 million for the three months ended September 30, 2020 from $18.00 million for the same period of last year. The slight decrease was primarily due to the Company’s strategical abandoning of the sales of certain low-profit margin products reimbursed by National Healthcare Security Administration (“NHSA” hereafter) due to its overall budget, elimination of a variety of drugs off the list of drugs reimbursed by the local NHSA since September 1, 2020, and the negative effect on the overall economy from COVID-19.

Revenue from the online pharmacy business increased by $3.00 million, or 127.4%, to $5.35 million for the three months ended September 30, 2020 from $2.35 million for the same period of last year. The increase was primarily caused by an increase in sales of prescription drugs via e-commerce platforms such as Tmall. Prescription drugs used to be prohibited from sales online due to safety concern. However, because the nation has lifted the ban order, online prescription drug sales become popular. As a result, the sale of prescription drugs was $1.76 million in the three months ended September 30, 2020 as compared to none in the three month ended September 30, 2019. Additionally, the Company maintained a membership care program targeted at customers with chronic disease. The Company has closely interacted with its members via WeChat by providing healthcare knowledge and reminding them to refill medicine. By implementing a personalized customer care program, the Company was able to promote its sales.

Revenue from the wholesale business decreased by $0.44 million, or 5.5%, to $7.56 million for the three months ended September 30, 2020 from $8.00 million for the same period of last year. The decrease was primarily due to the fact that a key salesperson was sick, which slowed certain business with customers.

Gross profit and gross margin

Total cost of goods sold increased by $2.17 million, or 10.0%, to $23.83 million for the three months ended September 30, 2020 from $21.66 million for the same period of last year. Gross profit increased by $0.32 million, or 4.8%, to $7.01 million for three months ended September 30, 2020 from $6.69 million for the same period of last year. Overall gross margin decreased slightly by 0.9 percentage points to 22.7% for the three months ended September 30, 2020, from 23.6% for the same period of last year.

Gross margins for retail drugstores, online pharmacy and wholesale were 31.3%, 11.3%, and 10.7%, respectively, for the three months ended September 30, 2020, compared to gross margins for retail drugstores, online pharmacy and wholesale of 30.7%, 13.6%, and 10.6%, respectively, for the same period of last year.

Loss from operations

Selling and marketing expenses decreased by $0.01 million, or 0.2%, to $6.48 million for the three months ended September 30, 2020 from $6.49 million for the same period of last year. The decrease in selling and marketing expenses was primarily due to the control of in-store advertising expense, offset by the increase in fee charged by various platforms as a result of sale increase in the Company’s online pharmacy.

General and administrative expenses increased by $0.24 million, or 13.0%, to $2.06 million for the three months ended September 30, 2020 from $1.82 million for the same period of last year. In the three months ended September 30, 2020, the Company reversed bad debt allowance of $304,397 as compared to an increase in bad debt allowance of $9,018 in the same period of last year. Excluding such effect, the general and administrative expenses increased by $551,039 period over period, which reflects the increase in staff and administration expense.

Loss from operations was $1.52 million for the three months ended September 30, 2020, compared to $1.62 million for the same period of last year. Operating margin was (4.9)% and (5.7)% for the three months ended September 30, 2020 and 2019 respectively.

Net loss

Net loss was $1.53 million, or $0.04 per basic and diluted share for the three months ended September 30, 2020, compared to net loss of $1.35 million, or $0.04 per basic and diluted share for the same period of last year.

Six Months Ended September 30, 2020 Financial Highlights

• Revenue increased by 15.4% to $61.90 million for the six months ended September 30, 2020 from $53.63 million for the same period of last year.
• Gross profit increased by 17.5% to $14.99 million for the six months ended September 30, 2020 from $12.75 million for the same period of last year.
• Gross margin increased by 0.4 percentage points to 24.2% for the six months ended September 20, 2020 from 23.8% for the same period of last year.
• Net loss was $1.92 million, or $0.05 per basic and diluted share, for the six months ended September 30, 2020, compared to net loss of $3.73 million, or $0.10 per basic and diluted share, for the same period of last year.

Six Months Ended September 30, 2020 Financial Results

Revenue

Revenue for the six months ended September 30, 2020 increased by $8.26 million, or 15.4%, to $61.90 million from $53.63 million for the same period of last year. The increase in revenue was primarily due to the increase in retail drugstores, online pharmacy and wholesale business.

Revenue from the retail drugstores business increased by $2.00 million, or 5.8%, to $36.74 million for the six months ended September 30, 2020 from $34.74 million for the same period of last year. The increase was primarily attributable to consumer-facing benefits such as emphasis on onsite medical care, chronic disease management services, incremental Direct-to-Patient (“DTP”) business caused by continuous hospital medical reform, partially offset by the decline in sale reimbursed by NHSA in the second quarter of fiscal 2021, and maturing of stores opened a year ago.

Revenue from the online pharmacy business increased by $5.47 million, or 114.0%, to $10.26 million for the six months ended September 30, 2020 from $4.79 million for the same period of last year. The increase was primarily caused by an increase in sales of prescription drugs via e-commerce platforms such as Tmall. Due to the same reason discussed above, the sale of prescription drugs was $3.63 million in the six months ended September 30, 2020 as compared to none in the six month ended September 30, 2019. Additionally, the Company maintained a membership care program targeted at customers with chronic disease. The Company has closely interacted with its members via WeChat by providing healthcare knowledge and reminding them to refill medicine. By implementing a personalized customer care program, the Company was able to promote its sales.

Revenue from the wholesale business increased by $0.80 million, or 5.6%, to $14.90 million for the six months ended September 30, 2020 from $14.10 million for the same period of last year. The increase was primarily a result of the Company’s ability to resell certain products, which the Company sold in large quantities at its retail stores, to other vendors at competitive prices.

Gross profit and gross margin

Total cost of goods sold increased by $6.02 million, or 14.7%, to $46.90 million for the six months ended September 30, 2020 from $40.88 million for the same period of last year. Gross profit increased by $2.24 million, or 17.5%, to $14.99 million for the six months ended September 30, 2020 from $12.75 million for the same period of last year. Overall gross margin increased by 0.4 percentage points to 24.2% for the six months ended September 30, 2020, from 23.8% for the same period of last year.

Gross margins for retail drugstores, online pharmacy and wholesale were 32.7%, 12.5%, and 11.4%, respectively, for the six months ended September 30, 2020. This compared to gross margins for retail drugstores, online pharmacy and wholesale of 30.5%, 13.9%, and 10.7%, respectively, for the same period of last year.

Loss from operations

Selling and marketing expenses increased by $0.30 million, or 2.4%, to $12.75 million for the six months ended September 30, 2020 from $12.45 million for the same period of last year. The increase in selling and marketing expenses was primarily due to increase in fee charged by various platforms as a result of sale increase in the Company’s online pharmacy.

General and administrative expenses decreased by $0.50 million, or 10.6%, to $4.18 million for the six months ended September 30, 2020 from $4.68 million for the same period of last year. In the six months ended September 30, 2020, the Company reversed bad debt allowance of $286,076 as compared to an increase in bad debt allowance of $767,249 in the same period of last year. Excluding such an effect, the general and administrative expenses increased by $559,503 period over period, which reflects the increases in staff and administration expense as the Company’s online business grew. 

Loss from operations was $1.94 million for the six months ended September 30, 2020, compared to $4.38 million for the same period of last year. Operating margin was (3.1)% and (8.2)% for the six months ended September 30, 2020 and 2019 respectively .

Net loss

Net loss was $1.92 million, or $0.05 per basic and diluted share for the six months ended September 30, 2020, compared to net loss of $3.73 million, or $0.10 per basic and diluted share for the same period of last year.

Financial Condition

As of September 30, 2020, the Company had cash of $21.65 million, compared to $16.18 million as of March 31, 2020. Net cash used in operating activities was $0.35 million for the six months ended September 30, 2020, compared to net cash provided by operating activities of $0.97 million for the same period of last year. Net cash used in investing activities was $1.76 million for the six months ended September 30, 2020, compared to $1.45 million for the same period of last year. Net cash provided by financing activities was $4.55 million for the six months ended September 30, 2020, compared to $6.38 million for the same period of last year.

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc. (“Jo-Jo Drugstores” or the “Company”), is a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products and a provider of healthcare services in China. Jo-Jo Drugstores currently operates an online pharmacy and retail drugstores with licensed doctors on site for consultation, examination and treatment of common ailments at scheduled hours. It is also a wholesale distributor of products similar to those carried in its pharmacies. For more information about the Company, please visit http://jiuzhou360.com. The Company routinely posts important information on its website.

Forward-Looking Statements

This press release contains information about the Company’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company’s encourages you to review other factors that may affect its future results in the Company’s annual reports and in its other filings with the Securities and Exchange Commission.

For more information, please contact:

Company Contact: 

Frank Zhao

Chief Financial Officer
+86-571-88077108
[email protected]

Steve Liu

Investor Relations Director
[email protected]

Investor Relations Contact:

Tina Xiao

Ascent Investor Relations LLC
+1-917-609-0333
[email protected]

 

 

 

 

 

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SOURCE China Jo-Jo Drugstores, Inc.

CAMDEN, N.J., Nov. 13, 2020 /PRNewswire/ — Holiday plans look different for many Americans this year, with reduced travel – only 6% plan to fly – and gatherings limited to close circles of people. According to a 2020 Thanksgiving survey by Campbell Soup Company, there will be an influx of first-time hosts and nervous cooks this Thanksgiving due to smaller, more intimate holiday get-togethers.

Notable findings from the survey include:

• Small but mighty. Compared to a typical year, more than half of consumers will celebrate Thanksgiving with fewer people.
• Home sweet home. Nearly two thirds (65%) of consumers will celebrate Thanksgiving in the comfort of their own home.
• Rookie host with the most. More than 1 in 5 (22%) will be first time Thanksgiving hosts.
• Sides are the stars. More than three quarters (77%) of consumers said mashed potatoes are one of their favorite Thanksgiving side dishes.
• No-Fail “GBC.” 41% of first-time hosts rated Green Bean Casserole as top “no fail” holiday dishes.

With so many first-time Thanksgiving hosts, many are nervous they may experience a mishap with their beloved traditional dishes. Manhattanites in particular are feeling the pressure, with numerous transplants not returning home for the holidays this year. Over 1 in 3 Manhattanites (35%) will be first-time hosts, with 67% saying they will celebrate with fewer people than usual and 66% of survey respondents dreading the possibility of an epic cooking fail.                        

Enter Campbell’s Dinner Insurance – a holiday side dish solution hub where first-time hosts can find easy, no-fail holiday recipes. And, if your dish still doesn’t go as planned on Thanksgiving, Campbell’s has you covered. In partnership with Instacart, the North American leader in online grocery delivery, all Manhattan residents will receive the opportunity to insure their Campbell’s side dish ingredient purchases. In this Dinner Insurance pilot program, Instacart cooks can submit a claim to receive a gourmet replacement side dish with same-day delivery on Thanksgiving.

“We know Thanksgiving will look and feel differently this year – with so many first timers assuming the responsibility of cooking their favorite holiday meals for a smaller gathering,” says Linda Lee, Chief Marketing Officer of Meals and Beverages, Campbell Soup Company. “We also know that while we look forward to that centerpiece turkey, our mouths water when anticipating the classic side dishes of the Thanksgiving table. Our goal with Dinner Insurance is to remind everyone that even in the toughest of times, Campbell’s is here to make holidays easier and more delicious with our no-fail classic side recipes.”

In addition to no-fail recipes, consumers are looking to make this year as stress-free as possible. 80% of consumers use online grocery shopping services and nearly a quarter plan to use them more than last year for Thanksgiving shopping in 2020. The brand’s partnership with Instacart provides access to millions of consumers who are actively shopping for Thanksgiving.

“Dinner Insurance is a ‘first to market’ program in many ways,” says Seth Dallaire, Chief Revenue Officer, Instacart. “This partnership has allowed us to pilot new consumer marketing and co-branded tactics that will truly drive sales and awareness. We are thrilled to join Campbell’s on a unique program that not only unlocks added value and engagement for their growing customer base, but truly helps those during an unprecedented holiday.”

No-fail side dishes offered through Dinner Insurance include Campbell’s Green Bean Casserole, Pepperidge Farm Savory Stuffing, Swanson Double Stock Mashed Potatoes and Pepperidge Farm Baked Brie.

For classic, no-fail Thanksgiving recipes and to learn more about the Manhattan Dinner Insurance pilot program, visit Campbells.com/DinnerInsurance.

About Campbell Soup Company


Campbell (NYSE: CPB) is driven and inspired by our Purpose, “Real food that matters for life’s moments.” For generations, people have trusted Campbell to provide authentic, flavorful and affordable snacks, soups and simple meals, and beverages. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard and Poor’s 500 and the FTSE4Good Index. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

About Instacart

Instacart is the North American leader in online grocery delivery. Instacart shoppers offer same-day delivery and pickup services to bring fresh groceries and everyday essentials to busy people and families across the U.S. and Canada. Instacart has partnered with more than 500 beloved national, regional and local retailers to deliver from nearly 40,000 stores across more than 5,500 cities in North America. Instacart’s delivery service is available to more than 85% of U.S. households and 70% of Canadian households. The company’s cutting-edge enterprise technology also powers the ecommerce platforms of some of the world’s biggest retail players, supporting their white-label websites, applications and delivery solutions. Instacart offers an Instacart Express membership for unlimited free delivery on orders over $35. For more information, visit www.instacart.com. For anyone interested in becoming an Instacart shopper, visit https://shoppers.instacart.com/.

Media Contact:

Colleen Baker, MSL
312-438-6482
[email protected]

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SOURCE Campbell’s