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Cleveland-Cliffs Inc. Completes Acquisition of ArcelorMittal USA

Cleveland-Cliffs Inc. Completes Acquisition of ArcelorMittal USA

CLEVELAND–(BUSINESS WIRE)–
Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it has successfully completed the acquisition of substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries (“ArcelorMittal USA”), forming the largest flat-rolled steel producer in North America. On a full-year 2019 basis, the combined Company generated pro-forma revenues of approximately $17 billion and combined adjusted EBITDA of approximately $1.7 billion, including previously disclosed expected synergies.

In connection with the acquisition of ArcelorMittal USA, which includes the interests of ArcelorMittal USA of 60% in I/N Tek L.P. and 50% in I/N Kote L.P., Cleveland-Cliffs also acquired Nippon Steel Corporation’s remaining interests of 50% in I/N Kote and 40% in I/N Tek, for a total consideration of approximately $183 million. With this additional transaction, Cleveland-Cliffs becomes the sole owner of 100% of I/N Tek and I/N Kote, which generated a combined $121 million of adjusted EBITDA in 2019.

Lourenco Goncalves, Chairman, President and Chief Executive Officer said, “The acquisition by Cleveland-Cliffs of ArcelorMittal USA, boosted by our buyout of Nippon Steel from the I/N Tek and I/N Kote joint ventures, opens a new chapter in the history of the steel business in the United States. The assets we have acquired will be combined with our existing footprint, including AK Steel, Precision Partners, AK Tube, several mining and pelletizing facilities, our Research & Development Center, and the most modern Direct Reduction plant in the world, which we have just started to operate in Toledo, OH. Our new footprint expands our technological capability and enhances our operational flexibility, elevating Cleveland-Cliffs to a prominent role as a major player in supporting American manufacturing, American future investments in infrastructure, and the prosperity of the American people through good paying middle-class jobs.”

Mr. Goncalves added, “We are also excited with the addition of the re-rolling plant co-owned by ArcelorMittal and Nippon Steel in Alabama as a very important long-term client of Cleveland-Cliffs for automotive grade slabs.”

Mr. Goncalves concluded, “We recognize our leadership role both domestically and globally as a major steel company, and pledge to operate our business in a disciplined, environmentally responsible, and socially conscious manner. The potential of operating this set of assets under one roof is immense, and will be carried out to the benefit of our employees, their families, and the communities in which we operate.”

Goldman Sachs & Co. LLC acted as financial advisor and Jones Day served as legal counsel to Cleveland-Cliffs. BofA Securities acted as lead arranger for the Company’s amended and upsized Asset Based Lending facility.

About Cleveland-Cliffs Inc.

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs is also the largest producer of iron ore pellets in North America. In 2020, Cliffs acquired two major steelmakers, AK Steel and ArcelorMittal USA, vertically integrating its legacy iron ore business with quality-focused steel production and emphasis on the automotive end market. Cliffs’ fully integrated portfolio includes custom-made pellets and, by the end of 2020, Hot Briquetted Iron (HBI); flat-rolled carbon steel, stainless, electrical, plate, tin and long steel products; as well as carbon and stainless steel tubing, hot and cold stamping and tooling. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs more than 25,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada. For more information, visit www.clevelandcliffs.com.

Forward-Looking Statements

This release contains statements that constitute “forward-looking statements” within the meaning of the federal securities laws. As a general matter, forward-looking statements relate to anticipated trends and expectations rather than historical matters. Forward-looking statements are subject to uncertainties and factors relating to our operations and business environment that are difficult to predict and may be beyond our control. Such uncertainties and factors may cause actual results to differ materially from those expressed or implied by the forward-looking statements. These statements speak only as of the date of this release, and we undertake no ongoing obligation, other than that imposed by law, to update these statements. Uncertainties and risk factors that could affect our future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: severe financial hardship, bankruptcy, temporary or permanent shutdowns or operational challenges, due to the ongoing COVID-19 pandemic or otherwise, of one or more of our major customers, including customers in the automotive market, key suppliers or contractors, which, among other adverse effects, could lead to reduced demand for our products, increased difficulty collecting receivables, and customers and/or suppliers asserting force majeure or other reasons for not performing their contractual obligations to us; uncertainty and weaknesses in global economic conditions, including downward pressure on prices caused by the COVID-19 pandemic, oversupply of imported products, reduced market demand and risks related to U.S. government actions with respect to Section 232, the USMCA and/or other trade agreements, treaties or policies; uncertainties associated with the highly competitive and highly cyclical steel industry and reliance on the demand for steel from the automotive industry; continued volatility of steel and iron ore prices and other trends, which may impact the price-adjustment calculations under certain of our sales contracts; our ability to cost-effectively achieve planned production rates or levels, including at our HBI production plant; our ability to successfully identify and consummate any strategic investments or development projects, including our HBI production plant; the impact of our steelmaking customers reducing their steel production due to the COVID-19 pandemic, or increased market share of steel produced using methods other than those used by our customers, or increased market share of lighter-weight steel alternatives, including aluminum; our ability to maintain adequate liquidity, our level of indebtedness and the availability of capital could limit cash flow available to fund working capital, planned capital expenditures, acquisitions, and other general corporate purposes or ongoing needs of our business; our actual economic iron ore reserves or reductions in current mineral estimates, including whether any mineralized material qualifies as a reserve; our ability to successfully diversify our product mix and add new customers; the outcome of any contractual disputes with our customers, joint venture partners or significant energy, material or service providers or any other litigation or arbitration; problems or uncertainties with sales volume or mix, productivity, transportation, environmental liabilities, employee-benefit costs and other risks of the steel and mining industries; impacts of existing and increasing governmental regulation and related costs and liabilities, including failure to receive or maintain required operating and environmental permits, approvals, modifications or other authorization of, or from, any governmental or regulatory entity and costs related to implementing improvements to ensure compliance with regulatory changes; our ability to maintain appropriate relations with unions and employees; the ability of our customers, joint venture partners and third-party service providers to meet their obligations to us on a timely basis or at all; events or circumstances that could impair or adversely impact the viability of a production plant or mine and the carrying value of associated assets, as well as any resulting impairment charges; uncertainties associated with natural disasters, weather conditions, unanticipated geological conditions, supply or price of energy, equipment failures, infectious disease outbreaks and other unexpected events; adverse changes in interest rates, foreign currency rates and tax laws; the potential existence of significant deficiencies or material weakness in our internal control over financial reporting; our ability to realize the anticipated benefits of the merger with AK Steel and to successfully integrate the businesses of AK Steel into our existing businesses, including uncertainties associated with maintaining relationships with customers, vendors and employees, as well as realizing additional future synergies; additional debt we assumed or issued in connection with the merger with AK Steel, as well as additional debt we incurred in connection with enhancing our liquidity during the COVID-19 pandemic, may negatively impact our credit profile and limit our financial flexibility; changes in the cost of raw materials and supplies; supply chain disruptions or poor quality of raw materials or supplies, including scrap, coal, coke and alloys; disruptions in, or failures of, our information technology systems, including those related to cybersecurity; unanticipated costs associated with healthcare, pension and OPEB obligations; our ability to integrate ArcelorMittal USA’s businesses and our existing businesses successfully and to achieve anticipated synergies; business and management strategies for the maintenance, expansion and growth of the combined company’s operations; potential litigation relating to the acquisition of ArcelorMittal USA that could be instituted against us or our officers and directors; disruptions from the acquisition that have the potential to harm our or ArcelorMittal USA’s businesses, including current plans and operations; our ability to retain and hire key personnel, including within the ArcelorMittal USA businesses; potential adverse reactions or changes to business relationships resulting from the completion of the acquisition of ArcelorMittal USA; and additional debt we incur, or other proposed financing transactions we may enter into, in connection with the acquisition may negatively impact our credit profile and limit our financial flexibility.

For additional factors affecting the business of Cliffs, refer to “Risk Factors” in Cliffs’ Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2020.

You are urged to carefully consider these risk factors.

MEDIA CONTACT:

Patricia Persico

Director, Corporate Communications

(216) 694-5316

INVESTOR CONTACT:

Paul Finan

Director, Investor Relations

(216) 694-6544

KEYWORDS: Ohio United States North America

INDUSTRY KEYWORDS: Steel Manufacturing

MEDIA:

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Covetrus Completes Separation from Former Parent Company

Covetrus Completes Separation from Former Parent Company

The Company Exits Final Transitional Services Agreement and Announces the Consolidation of its North American Commercial Organizations

PORTLAND, Maine–(BUSINESS WIRE)–
Covetrus (Nasdaq: CVET), a global leader in animal-health technology and services, announced today that all 72 transitional services agreements with Henry Schein, Inc. (Nasdaq: HSIC), its former parent company, have now been exited. The final exit, which was completed ahead of schedule and less than two years following the completion of its spin-off, marks a significant milestone that will enable the Company to deliver greater coordination of its businesses as the Company moves towards the next stage of its three-year strategic plan.

Covetrus also announced a consolidation within its North American commercial organizations to drive increased strategic alignment between its customers and its full scope of products and capabilities. The new structure brings together Covetrus’ North American commercial teams under unified leadership to maximize account management and support for its customers’ businesses. This change also unlocks resources for Covetrus’ Global Technology Solutions team to focus on executing on the Company’s technology roadmap, including new software, e-commerce enhancements and bringing prescription management to new geographies in 2021 and beyond.

“I congratulate our team for their remarkable work to complete our separation, and our thanks to Henry Schein for their help throughout the process,” said Covetrus president and CEO Ben Wolin. “Covetrus enters 2021 with momentum, greater alignment around our customers and focus on delivering the significant growth opportunities ahead. This increased technology investment and consolidation position us to win for, and on behalf of our customers.”

The Company’s new commercial structure also reduces duplications within the combined businesses, which impacted approximately 80 employees. “While it is always difficult when decisions impact members of our team, these actions will strengthen our customer relationships, enable new investments in our strategic growth initiatives and foster greater innovation within our industry,” said Wolin.

Additionally, the Company announced that it has entered into an agreement to transfer its French distribution business, Hippocampe Caen S.A, to COVETO, a French cooperative, effective December 31, 2020. The transfer will modestly reduce the Company’s previously disclosed severance obligations tied to its decision in October 2020 to exit that business. Covetrus continues to service the French market with practice management software and proprietary products.

About Covetrus

Covetrus is a global animal-health technology and services company dedicated to empowering veterinary practice partners to drive improved health and financial outcomes. We are bringing together products, services, and technology into a single platform that connects our customers to the solutions and insights they need to work best. Our passion for the well-being of animals and those who care for them drives us to advance the world of veterinary medicine. Covetrus is headquartered in Portland, Maine with approximately 6,000 employees serving over 100,000 customers around the globe. For more information about Covetrus visit https://covetrus.com/.

Forward-Looking Statements

This press release contains certain statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to numerous risks and uncertainties, and actual results could differ materially from those anticipated due to a number of factors including, but not limited to, the ability to successfully coordinate its businesses and integrate its operations and employees; the ability to realize anticipated benefits from the strategic organizational structure changes; the potential impact of the organizational structure changes on relationships, including with employees and customers; the ability to retain key personnel; the ability to achieve performance targets; and those additional risks discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed on March 3, 2020, our Quarterly Report on Form 10-Q filed with the SEC on November 10, 2020, and in our other SEC filings. Our forward-looking statements are based on current beliefs and expectations of our management team and, except as required by law, we undertake no obligations to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result of new information, future developments or otherwise. Investors are cautioned not to place undue reliance on these forward-looking statements.

Nicholas Jansen | Investor Relations

207-550-8106 | [email protected]

Kiní Schoop | Public Relations

207-550-8018 | [email protected]

KEYWORDS: Maine United States North America

INDUSTRY KEYWORDS: Veterinary Technology Pets Software Practice Management Pharmaceutical Consumer Health Retail Online Retail

MEDIA:

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InveniAI and Kyowa Kirin Enter AI-Powered Novel Target Discovery Collaboration

  • Expansion of existing collaboration will leverage InveniAI® technology to identify, evaluate, and optimize novel targets for Kyowa Kirin’s antibody technology
  • Kyowa Kirin will select multiple programs to advance into clinical development
  • InveniAI® is eligible to receive an upfront payment, development and commercial milestones, and royalties

GUILFORD, Conn. and TOKYO, Japan, Dec. 09, 2020 (GLOBE NEWSWIRE) — InveniAI® LLC, a global leader in pioneering the application of artificial intelligence (AI) and machine learning (ML) to transform innovation across drug discovery and development, and Kyowa Kirin Co., Ltd. (Kyowa Kirin, TSE:4151), a global specialty pharmaceutical company creating innovative medical solutions utilizing the latest biotechnology, are pleased to announce they have expanded their collaboration agreement to harness the power of InveniAI’s AI-platform, AlphaMeld®, for novel target discovery.

InveniAI and Kyowa Kirin have been collaborating since 2018, to maximize Kyowa Kirin’s portfolio value through the re-innovation of an existing therapeutic pipeline into new disease indications utilizing AlphaMeld®. Through this expansion, Kyowa Kirin will leverage AlphaMeld® for novel target discovery and validation to generate a clinical pipeline of therapeutic antibodies that address the enduring unmet needs of patients across multiple diseases. Under the terms of the agreement, Kyowa Kirin will select multiple programs to advance into clinical development.

“As we work towards our mission to contribute to human health and well-being worldwide through state-of-the-art therapeutic modalities, we are excited to advance the next generation of antibody technology which offers numerous advantages over traditional monoclonal antibodies,” said Yoshifumi Torii, Ph.D., Executive Officer, Vice President, Head of R&D Division of Kyowa Kirin. “We are thrilled to partner with InveniAI to leverage artificial intelligence and machine learning to comprehensively identify viable connections between novel targets and diseases at unprecedented scale and speed. The expansion of the agreement will allow us to prioritize and advance our programs into clinical development with the highest probability of success while minimizing time and cost.”

“After a successful initial collaboration, our expanded partnership with Kyowa Kirin evidences the continued success of our AI-powered technology to drive the discovery and development of meaningful therapeutics across multiple modalities such as antibody, small molecule, RNAi, and gene therapy,” said Krishnan Nandabalan, Ph.D., President and CEO, InveniAI LLC. “Numerous programs to emerge from the platform in various stages of clinical development are a testament to the veracity and validation of the platform. In fact, one of the earliest programs, BXCL501, developed by our sister company, has recently completed a Phase III readout making this the first AI-powered platform to accomplish this feat,” he added.

Under the terms of the collaboration, InveniAI will receive an upfront payment, development and commercial milestones, and royalties.

About Kyowa Kirin
Kyowa Kirin commits to innovative drug discovery driven by state-of-the-art technologies. The company focuses on creating new values in the four therapeutic areas: nephrology, oncology, immunology/allergy, and neurology. Under the Kyowa Kirin brand, the employees from 40 group companies across North America, EMEA, and Asia/Oceania unite to champion the interests of patients and their caregivers in discovering solutions wherever there are unmet medical needs. You may learn more about the business of Kyowa Kirin at: https://www.kyowakirin.com.

About AlphaMeld®
AlphaMeld® is an AI-based platform powered by machine learning algorithms. The platform accelerates innovation by identifying alpha signals for targets, drugs, and healthcare products and technologies. Primed with data sets that have been cleaned, curated, and connected for over a decade, the platform generates testable hypotheses based on an ideal mode of pharmacotherapy (antibody, protein replacement, siRNA, mRNA, small molecule, cell and gene therapy, and gene-editing modalities), disease severity, gene ontology, disease pathways, proteinopathies, standard of care, emerging innovation, and enabling technologies while factoring in medical, scientific, strategic, and commercial considerations. AlphaMeld® operates in real-time and in a rapidly changing and diverse data environment.

About InveniAI®
InveniAI® LLC, based in Guilford, Conn., is a global leader pioneering the application of artificial intelligence (AI) and machine learning (ML) to transform innovation across drug discovery and development by identifying and accelerating transformative therapies for diseases with unmet medical needs. The company leverages AI and ML to harness petabytes of disparate data sets to recognize and unlock value for AI-based drug discovery and development. Numerous industry collaborations in Big Pharma, Specialty Pharma, Biotech, and Consumer Healthcare showcase the value of leveraging our technology to meld human experience and expertise with the power of machines to augment R&D decision-making across all major therapeutic areas. The company leverages the AlphaMeld® platform to generate drug candidates for our industry partners and internal drug portfolio. For more information, please visit www.inveniai.com.

Contact
InveniAI LLC
Anita Ganjoo, Ph.D.
Corporate Communications
+1 203 273 8388
E-mail: [email protected]

Kyowa Kirin
Hiroki Nakamura
Media
+81-3-5205-7205
E-mail: [email protected]



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Cardtronics Confirms Receipt of Proposal from Apollo Global Management and Hudson Executive Capital to Acquire the Company

HOUSTON, Dec. 09, 2020 (GLOBE NEWSWIRE) — Cardtronics plc (“Cardtronics” or the “Company”) (Nasdaq: CATM) today confirmed that it has received a proposal from funds managed by affiliates of Apollo Global Management, Inc. and Hudson Executive Capital LP to acquire all of the outstanding shares of the Company for $31.00 per share in cash.

Given his role as Founder & Managing Partner of Hudson Executive Capital LP, Douglas Braunstein has recused himself from any discussions that the Cardtronics Board of Directors has had regarding any transaction. The other members of the Cardtronics Board of Directors will review and assess the terms of the proposal.

No specific timetable has been set and there can be no assurances that the review of this proposal will result in the consummation of any agreement or transaction. The Company does not intend to make any further public comments regarding this matter unless and until the Cardtronics Board of Directors approves a specific course of action or has otherwise determined that further disclosure is appropriate or required by applicable law.

Cardtronics has retained Goldman Sachs & Co. LLC as its financial advisor and Weil, Gotshal & Manges LLP and Ashurst LLP as its legal advisors.


Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended and are intended to be covered by the safe harbor provisions thereof. Forward-looking statements can be identified by words such as “will,” “intend,” “propose,” “believe,” “expect,” “future,” “anticipate,” “contemplate,” “foresee,” “would,” “could,” “plan,” and similar expressions that are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effect on the Company and there can be no assurance that future developments affecting the Company will be those that are anticipated. The Company’s forward-looking statements involve significant risks and uncertainties (some of which are beyond its control) and assumptions that could cause actual results to differ materially from its historical experience and present expectations or projections. Risk factors are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as updated by the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and those set forth from time-to-time in other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements contained in this press release, which speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events, or otherwise.


About


Cardtronics


(


Nasdaq


: CATM)

Cardtronics is the trusted leader in financial self-service, enabling cash transactions at over 285,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. Leveraging our unmatched scale, expertise, and innovation, top-tier merchants and businesses of all sizes use our ATM solutions to drive growth, in-store traffic, and retail transactions. Financial services providers rely on Cardtronics to deliver superior service at their own ATMs, on Cardtronics ATMs where they place their brand, and through Cardtronics’ Allpoint Network, the world’s largest retail-based surcharge-free ATM network, with over 55,000 locations. As champions of cash, Cardtronics converts digital currency into physical cash, driving payments choice for businesses and consumers alike. To learn more about Cardtronics, visit www.cardtronics.com and follow us on LinkedIn and Twitter.


Contact Information:

Investor Relations

Brad Conrad
EVP – Treasurer
832-308-4000
[email protected]

 Media Relations

Lisa Albiston
VP Public Relations and Communications
832-308-4000
[email protected]
  Or

Eric Brielmann / Scott Bisang
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Cardtronics
is a registered trademark of
Cardtronics
plc and its subsidiaries.

All other trademarks are the property of their respective owners.



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Hess Achieves Leadership Status in CDP’s Global Climate Change Report

Hess Achieves Leadership Status in CDP’s Global Climate Change Report

NEW YORK–(BUSINESS WIRE)–
Hess Corporation (NYSE:HES) has been recognized for climate change stewardship in CDP’s Climate Change Report 2020. Hess has earned Leadership status for 12 consecutive years from CDP, an international nonprofit that runs a global environmental disclosure system for investors, companies, cities, states and regions. This year, Hess is one of only two U.S. oil and gas producers to achieve Leadership status.

“CDP’s rating recognizes our continued leadership in transparency and performance as we address climate-related risks and opportunities,” said Alex Sagebien, Vice President, Environmental, Health and Safety. “Hess will continue to be guided by our values and longstanding commitment to sustainability as we help to meet the world’s growing need for energy while reducing our carbon footprint.”

CDP scores are based upon a company’s climate related governance, disclosure practices and management of risks. Ratings for the complete list of companies from around the world can be found at https://www.cdp.net/en/scores.

In addition, Newsweek today published its second annual ranking of America’s Most Responsible Companies and once again included Hess. Of the 400 companies on the 2021 list, Hess is the highest ranked oil and gas producer. The ranking is based on an analysis of 2,000 public companies by a research firm using an independent survey and publicly available key performance indicators for environmental, social and corporate governance. The complete list and methodology are available here.

For more information about sustainability at Hess, including annual Sustainability Reports, please visit www.hess.com/sustainability.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at www.hess.com.

Investor:

Jay Wilson, (212) 536-8940

Media:

Lorrie Hecker, (212) 536-8250

[email protected]

KEYWORDS: Europe United States United Kingdom North America New York

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property Finance Other Energy Oil/Gas Professional Services Alternative Energy Other Natural Resources Energy Natural Resources

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IIROC Trading Halt – FRU.R

Canada NewsWire

TORONTO, Dec. 9, 2020 /CNW/ – The following issues have been halted by IIROC:

Company: Freehold Royalties Ltd.

TSX Symbol: FRU.R

All Issues: No

Reason: Pending Closing

Halt Time (ET): 8:00 AM

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

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New Quest Diagnostics Health Trends™ Survey Reveals COVID-19 Testing Hesitancy Among Americans, With 3 of 4 Avoiding a Test When They Believed They Needed One

Nationwide survey believed to be the first to reveal insights into U.S. consumer behaviors and attitudes toward COVID-19 testing and health effects since fall-winter COVID-19 wave began

Medical treatment delays and worsening chronic conditions during pandemic may lead to surge in non-COVID-19 health conditions, with nearly one-third (31%) of those living with a chronic health condition saying their health has gotten worse since pandemic began

Parents and women suffer disproportionate health impacts amid pandemic

PR Newswire

SECAUCUS, N.J., Dec. 9, 2020 /PRNewswire/ — A new Quest Diagnostics Health Trends™ study finds that three in four Americans who believed they needed a COVID-19 test (74%) chose not to get one, or delayed getting one, primarily due to concerns about exposure to the SARS-CoV-2 virus (30%).  

The nationally representative survey was conducted online by The Harris Poll on behalf of Quest Diagnostics (NYSE: DGX) between November 10-12, 2020, among 2,050 U.S. adults. This survey is believed to be the first to evaluate attitudes about COVID-19’s impact on medical care and testing since the recent fall-winter wave of COVID-19 cases began to sweep across the United States.

The findings suggest large numbers of Americans are putting off medical care they may need – including COVID-19 diagnostic lab tests as well as preventative and chronic care – due to fears and other barriers, with likely long-term consequences for patients and the U.S. healthcare system.  

Among the key findings:

  • Of those Americans who believed they needed a COVID-19 test, 74% chose not to get or delayed getting one. The primary reason was concern about exposure to the virus (30%); with others citing that they thought it was very unlikely they had COVID-19 (21%); concerns over having to quarantine while waiting for results or if they were positive (15%); and cost (15%). Lab testing for COVID-19 is an important tool in preventing COVID-19 disease spread, given that as many as 40% of infected individuals may lack symptoms and not know they are infected and able to pass the infection to othersi
  • A larger proportion of Hispanic/Latinx adults (83%) vs. Whites (non-Hispanic) (72%) and Blacks (72%) chose to avoid or delayed getting a diagnostic COVID-19 test when they believed they needed one.
  • Black Americans, who are overrepresented among America’s essential workforce, who have been disproportionately affected by the pandemic and are more likely to be in essential jobs that put them at exposure risk, found greater access to testing even more important: specifically, 73% of Blacks compared to 55% of Whites feel greater access is “absolutely essential” or “very important” to slow the pandemic.

“Our Health Trends data show that while most Americans understand the vital role testing plays in helping to control the COVID-19 pandemic, people are scared of exposure to the virus. This fear keeps them from getting tested when they believe they needed it, and out of the doctor’s office for routine care and treatment,” said Harvey W. Kaufman, M.D., Senior Medical Director, Head of the Health Trends Research Program for Quest Diagnostics. “Those who are concerned about exposure should discuss their concerns with their healthcare provider or local health department, so that they can access a test, if appropriate, and other important health care services.”

Delayed Health Care during Pandemic Could Lead to Surge of Chronic Disease and Non-COVID-19 Health Conditions and Emergencies

In the meantime, while they await a vaccine, Americans revealed deep concerns about undiagnosed and worsening chronic health conditions during the pandemic. Worries about exposure to the virus are at the top of the list of reasons why U.S. adults have avoided or delayed in-person health care (53%), but many of them also recognize that forgoing this care has now led to other health problems, like greater stress about a health condition (31%), delayed treatment (23%) or diagnosis (18%) and worsening symptoms (17%).

At the same time, Americans’ reluctance to maintain routine or preventive medical visits due to the pandemic could lead to a wave of non-COVID-19 health conditions once the pandemic abates or a vaccine is distributed.

According to the findings:

  • The majority of U.S. adults (60%) have skipped or delayed some in-person medical treatments or appointments during the COVID-19 pandemic, in particular, Hispanic/Latinx adults (67%) (compared to 59% White and 58% Black). About one in five Americans (22%) skipped or delayed blood work or lab testing specifically.
  • Over a third of Americans do not plan to resume attending in-person medical treatments and appointments until the pandemic is under better control (39%) or until a vaccine is available (33%).
  • One in two Americans (51%) said that only a severe illness or injury would motivate them to seek in-person medical care during the COVID-19 pandemic.
  • Nearly one in three Americans who have a chronic health condition (31%) said their condition had gotten worse since the pandemic began and two in five Americans (41%) are somewhat/very concerned that they may currently have an undiagnosed health condition.
  • Current attitudes toward delaying care are also supported by Quest Diagnostics lab data. According to other Health Trends™ research, the rate of cancer diagnoses across six common cancer types decreased by 46% between March 1 and April 18, 2020, during the COVID-19 pandemic.ii And the rate of diabetes (hemoglobin A1c) testing declined by as much as 66% during approximately the first two months of the pandemic, compared with the previous year.iii

Women and Parents Have Borne the Brunt of the Pandemic’s Impact

More women than men say COVID-19 has negatively impacted their mental (49% of women vs. 36% of men), financial (42% vs. 37%) and physical health (33% vs. 26%).

Meanwhile, parents of children under 18 years of age are more likely to have delayed in-person medical treatment or appointments during the pandemic: 71% have delayed an appointment, compared to 54% of those who don’t have children under age 18. Specifically, parents are more likely than those without children under age 18 to have delayed or skipped:

  • An annual physical exam (31% vs. 22%)
  • Blood work/lab testing (30% vs. 18%)
  • Preventative vaccinations or screenings (24% vs. 12%)

Dr. Kaufman continued, “With a vaccine likely not making its way to the general public until spring at the earliest, the healthcare community needs to do a better job of helping Americans get back to routine care now. Early diagnosis can save lives and putting off preventative care and chronic disease treatment could make the difference between life and death.  Chronic diseases take a toll on the body each day. Delays in diagnosis and treatment will cause, for many people, irreversible damage, require more aggressive and less effective treatments, and contribute to a higher death rate. As Benjamin Franklin advised, ‘An ounce of prevention is worth a pound of cure.'”   

Methodology

On behalf of Quest, The Harris Poll conducted an online survey of 2,050 adults 18 years and older across the United States from November 10-12, 2020. The survey sample included 337 Hispanic/Latinx, 265 Black and 1,278 White adults. Harris weighted figures for age by sex, region, education, household size, marital status and household income by race/ethnicity where necessary to make them representative of their actual proportions in the population. The Harris Poll is one of the longest running surveys in the U.S. tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times.

About Quest Diagnostics Health Trends™

Quest Diagnostics Health Trends™ is a series of scientific reports that provide insights into health topics, based on analysis of objective clinical laboratory data, to empower better patient care, population health management and public health policy. The reports are based on the Quest Diagnostics database of 48 billion de-identified laboratory test results, believed to be the largest of its kind in healthcare. Health Trends has yielded novel insights to aid the management of allergies and asthma, prescription drug monitoring, diabetes, Lyme disease, heart disease, influenza and workplace wellness. Quest Diagnostics also produces the Drug Testing Index (DTI)™, a series of reports on national workplace drug positivity trends based on the company’s employer workplace drug testing data.
www.QuestDiagnostics.com/HealthTrends

About COVID-19 testing at Quest Diagnostics

Quest Diagnostics is at the forefront of the response to the COVID-19 pandemic, working to broaden access to laboratory insights to help us all lead healthier lives. We provide both molecular diagnostic and antibody serology tests to aid in the diagnosis of COVID-19 and immune response.  Through our team of dedicated phlebotomists, air fleet team, couriers and laboratory professionals, Quest Diagnostics works hard every day to help patients and communities across the United States access quality COVID-19 testing. 

For more information about the latest developments with our COVID-19 testing, visit:     newsroom.questdiagnostics.com/COVIDTestingUpdates

About Quest Diagnostics

Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world’s largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our 47,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. www.QuestDiagnostics.com


i Centers for Disease Control. COVID-19 Pandemic Planning Scenarios. https://www.cdc.gov/coronavirus/2019-ncov/hcp/planning-scenarios.html. Accessed December 2020.


ii Kaufman HW, Chen Z, Niles J, Fesko Y. Changes in the Number of US Patients With Newly Identified Cancer Before and During the Coronavirus Disease 2019 (COVID-19) Pandemic. JAMA Netw Open. 2020;3(8):e2017267. doi:10.1001/jamanetworkopen.2020.17267


iii Fragala MS, Kaufman HW, Meigs JB, Niles JK, McPhaul MJ. Consequences of the COVID-19 pandemic: reduced hemoglobin A1c diabetes monitoring [published online ahead of print June 29, 2020]. Popul Health Manag. doi:10.1089/pop.2020.0134

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/new-quest-diagnostics-health-trends-survey-reveals-covid-19-testing-hesitancy-among-americans-with-3-of-4-avoiding-a-test-when-they-believed-they-needed-one-301188780.html

SOURCE Quest Diagnostics

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Identity and Access Management Provider BIO-key Presents at LD Micro Virtual Main Event 2020 Conference, Tuesday December 15th at 3:20pm ET

WALL, N.J., Dec. 09, 2020 (GLOBE NEWSWIRE) — BIO-key International, Inc. (Nasdaq: BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics will present at the LD Micro Virtual Main Event 2020 Investor Conference on Tuesday, December 15th. BIO-key’s Chairman and CEO Mike DePasquale will give an introduction and address questions from an investor panel, beginning at 3:20pm ET and ending at 3:40pm ET.

The LD Micro Virtual Main Event conference takes place December 14th and 15th and will feature over 200 small / micro-cap companies.

To learn more or to register for the Main Event
please visit:

https://ve.mysequire.com/

Chris Lahiji, Founder of LD, commented, “This year’s Main Event features a unique format that will make it the first virtual conference this year that is engaging instead of repetitive. There have been too many 20-minute PowerPoints, and investors have lost the desire to watch one more of the same thing. We intend to showcase great companies in a much more engaging format.” 

View 
BIO-key’s
LD Micro profile here:
 
http://www.ldmicro.com/profile/BKYI

About LD Micro

LD Micro is a leading independent information resource and investment community event platform providing valuable tools for everyone in the small and micro-cap investment universe. The LD Micro Index (the LDMi), the first pure microcap index, was launched in 2015 to provide a useful benchmark and flow of information to support participants in the micro-cap sector. Please contact David Scher at [email protected] or visit www.ldmicro.com for more information.

About BIO-key International, Inc. (


www.bio-key.com


)

BIO-key is revolutionizing authentication with biometric centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provide convenient and secure access to devices, information, applications and high-value transactions. BIO-key’s proprietary software and hardware solutions, with industry leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.

Engage with BIO-key 
Twitter:
StockTwits:
@BIO_keyIR
 
BIO_keyIR

Investor & Media Contacts

William Jones, David Collins
Catalyst IR
212-924-9800
[email protected]

 



Posted on

Novavax Appoints Vaccine Industry Expert Margaret G. McGlynn to Board of Directors

GAITHERSBURG, Md., Dec. 09, 2020 (GLOBE NEWSWIRE) — Novavax, Inc. (Nasdaq: NVAX), a late-stage biotechnology company developing next-generation vaccines for serious infectious diseases, today announced the appointment of Margaret G. McGlynn, R. Ph. to its board as an independent director. Ms. McGlynn brings extensive pharmaceutical industry, vaccine and non-profit experience to her role on the Novavax Board of Directors.

“Margie’s deep experience in vaccine commercialization and understanding of global public health will be invaluable as we move closer to collecting Phase 3 clinical data and submitting NVX-CoV2373, our COVID-19 vaccine candidate, for regulatory authorization and approval,” said Stanley C. Erck, Novavax President and Chief Executive Officer.

Ms. McGlynn is currently President and Board Chair for HCU Network America, an advocacy organization she founded in 2016 that is dedicated to supporting the needs of those impacted by the rare genetic condition homocystinuria (HCU) and related disorders. Prior to founding HCU Network America, Ms. McGlynn served as President and Chief Executive Officer of the International AIDS Vaccine Initiative (IAVI), where she led extensive partnership efforts to advance the development, global launch and access to a broadly effective HIV vaccine. She previously spent more than two decades at Merck, where she held roles of increasing responsibility, including President of Merck Vaccines and Infectious Diseases, and President, U.S. Hospital and Specialty Products Division.

“This is a very exciting time to be joining the Novavax Board, and I look forward to working with my fellow directors to support Novavax’ critical priority to advance and deploy NVX-CoV2373 globally to help end this devastating pandemic, as well as progress the broader vaccine portfolio,” said Ms. McGlynn.

She currently serves on the boards of directors of Amicus Therapeutics and Vertex Pharmaceuticals. In addition to her corporate experience, Ms. McGlynn has served as a Board member for several non-profit organizations, including Hilleman Institute for Developing World Vaccine Research, Gavi, the Vaccine Alliance, the Biotechnology Innovation Organization (BIO), and Life Science Cares Philadelphia.

Ms. McGlynn holds a Bachelor of Science degree in pharmacy, a Master of Business Administration in marketing, and an honorary doctorate from the State University of New York at Buffalo.

About Novavax

Novavax, Inc. (Nasdaq: NVAX) is a late-stage biotechnology company that promotes improved health globally through the discovery, development and commercialization of innovative vaccines to prevent serious infectious diseases. The Company’s proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles designed to address urgent global health needs. Novavax is conducting late-stage clinical trials for NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19. NanoFlu™, its quadrivalent influenza nanoparticle vaccine, met all primary objectives in its pivotal Phase 3 clinical trial in older adults and will be advanced for regulatory submission. Both vaccine candidates incorporate Novavax’ proprietary saponin-based Matrix-M™ adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies.

For more information, visit www.novavax.com and connect with us on Twitter and LinkedIn.

Novavax Forward Looking Statements

Statements herein relating to the future of Novavax and the ongoing development of its vaccine and adjuvant products are forward-looking statements. Novavax cautions that these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include those identified under the heading “Risk Factors” in the Novavax Annual Report on Form 10-K for the year ended December 31, 2019, and Quarterly Report on Form 10-Q for the period ended September 30, 2020, as filed with the Securities and Exchange Commission (SEC). We caution investors not to place considerable reliance on forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of the statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.



Contacts:         
Investors
Erika Trahan
[email protected]
240-268-2022

Media
Brandzone/KOGS Communication
Edna Kaplan
[email protected]
617-974-8659

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Celldex Doses First Patient in Phase 1b Study of CDX-0159 in Chronic Inducible Urticaria

HAMPTON, N.J., Dec. 09, 2020 (GLOBE NEWSWIRE) — Celldex Therapeutics, Inc. (Nasdaq:CLDX) announced today that the first patient has been dosed in its open label clinical trial in cold contact urticaria and symptomatic dermographism, the two most common forms of chronic inducible urticaria (CIndU). CDX-0159 is a humanized monoclonal antibody developed by Celldex that binds the KIT receptor with high specificity and potently inhibits its activity. The KIT receptor tyrosine kinase is expressed in a variety of cells, including mast cells, which mediate inflammatory responses such as hypersensitivity and allergic reactions. KIT signaling controls the differentiation, tissue recruitment, survival and activity of mast cells. As previously presented, CDX-0159 demonstrated a favorable safety profile as well as profound and durable reductions of plasma tryptase, indicative of systemic mast cell ablation in a Phase 1a single dose, healthy volunteer study. In October, Celldex also announced the initiation of a Phase 1b study in chronic spontaneous urticaria.

“Inducible urticarias can significantly impact a patient’s quality of life, including insomnia, lack of energy, poor self-image, social withdrawal and depression,” said Dr. Marcus Maurer, Professor of Dermatology and Allergy and Director of Research at the Department of Dermatology and Allergy at the Allergie-Centrum-Charité of the Charité – Universitätsmedizin in Berlin and the lead investigator for the study. “This is especially true for cold contact urticaria and symptomatic dermographism as avoiding the triggers for these diseases is extremely difficult and therapies that address the root cause of disease—mast cell activation—are sorely needed. We look forward to completing this study and believe CDX-0159 could be a much needed disease-modifying drug for these patients.”

“With the initiation of our second study in urticaria, Celldex has laid an exciting foundation for the CDX-0159 program,” said Diane C. Young, MD, Senior Vice President and Chief Medical Officer of Celldex Therapeutics. “The CIndU study should provide rapid clinical proof of concept in a disease setting that is clearly driven by mast cells. In addition to continuing to assess the safety and potential clinical benefit of CDX-0159, we also hope to confirm its impact on mast cells through the collection and analysis of serial skin biopsies, answering an important question about CDX-0159’s mechanism of action.”

The Phase 1b study is an open label clinical trial designed to evaluate the safety of a single dose of CDX-0159 in up to 20 patients with cold contact urticaria (n=10) or symptomatic dermographism (n=10) who are refractory to antihistamines. Patients’ symptoms will be induced via provocation testing that resembles real life triggering situations. Secondary and exploratory objectives include pharmacokinetic and pharmacodynamic assessments, including changes from baseline provocation thresholds, measurement of tryptase and stem cell factor levels, clinical activity outcomes (impact on urticaria symptoms, disease control, clinical response), quality of life assessments and measurement of tissue mast cells through skin biopsies. CDX-0159 will be administered intravenously (3.0 mg/kg) as add on treatment to H1-antihistamines. More information about this study is available on www.clinicaltrials.gov (Identifier: NCT04548869). Initial data from the study are expected at the end of the first quarter of 2021.

CIndUs are forms of urticaria that have an attributable cause or trigger associated with them, typically resulting in hives or wheals. Approximately 0.5% of the total population suffers from inducible urticarias. Celldex is exploring the two most common forms, cold-induced and dermographism (scratch-induced) urticarias. People afflicted with cold induced urticaria experience symptoms like itching, burning wheals and angioedema where their skin comes in contact with temperatures below skin temperature. Symptomatic dermographism is characterized by the development of a wheal and flare reaction in response to a stroking, scratching or rubbing of the skin, usually occurring within minutes of the inciting stimulus. For both of these diseases, mast cell activation leading to release of soluble mediators is thought to be the driving mechanism leading to the wheals and other symptoms. There are currently no approved therapies for CIndUs and patients attempt to manage symptoms associated with their disease through avoidance of triggers and the use of antihistamines. Celldex believes that CDX-0159 has significant potential to directly inhibit and/or ablate mast cells which, in turn, could be disease modifying for patients.

About CDX-
0159

CDX-0159 is a monoclonal antibody that binds the KIT receptor with high specificity and potently inhibits its activity. The KIT receptor tyrosine kinase is expressed in a variety of cells, including mast cells, which mediate inflammatory responses such as hypersensitivity and allergic reactions. KIT signaling controls the differentiation, tissue recruitment, survival and activity of mast cells. Celldex is currently studying CDX-0159 in chronic urticarias. Currently approved therapies for chronic urticarias target symptomatic relief. Celldex believes that CDX-0159 has significant potential to interfere with mast cells at multiple steps upstream of current treatments, which, in turn, could be disease modifying for patients. In addition, Celldex is also evaluating additional opportunities in other mast cell driven diseases where CDX-0159’s potency and high specificity for KIT could be important.

About Celldex Therapeutics, Inc.
Celldex is a clinical stage biotechnology company dedicated to developing monoclonal and bispecific antibodies that address devastating diseases for which available treatments are inadequate. Our pipeline includes antibody-based therapeutics which have the ability to engage the human immune system and/or directly effect critical pathways to improve the lives of patients with inflammatory diseases and many forms of cancer.

Forward Looking Statement

This release contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are typically preceded by words such as “believes,” “expects,” “anticipates,” “intends,” “will,” “may,” “should,” or similar expressions. These forward-looking statements reflect management’s current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations will prove to be correct or that those goals will be achieved, and you should be aware that actual results could differ materially from those contained in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, our ability to successfully complete research and further development and commercialization of Company drug candidates; the effects of the outbreak of COVID-19 on our business and results of operations; the uncertainties inherent in clinical testing and accruing patients for clinical trials; our limited experience in bringing programs through Phase 3 clinical trials; our ability to manage and successfully complete multiple clinical trials and the research and development efforts for our multiple products at varying stages of development; the cost of paying development, regulatory approval and sales-based milestones under our merger agreement with Kolltan, including the cost, timing, and outcome of our declaratory judgment action against the Kolltan stockholder representative with respect to certain of those milestones; the availability, cost, delivery and quality of clinical and commercial grade materials produced by our own manufacturing facility or supplied by contract manufacturers, who may be our sole source of supply; the timing, cost and uncertainty of obtaining regulatory approvals; the failure of the market for the Company’s programs to continue to develop; our ability to protect the Company’s intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company’s products; our ability to continue to obtain capital to meet our long-term liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete the clinical trials that we have initiated or plan to initiate; and other factors listed under “Risk Factors” in our annual report on Form 10-K and quarterly reports on Form 10-Q.

All forward-looking statements are expressly qualified in their entirety by this cautionary notice. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. We have no obligation, and expressly disclaim any obligation, to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.

Company Contact

Sarah Cavanaugh
Senior Vice President, Corporate Affairs & Administration
Celldex Therapeutics, Inc.
(781) 433-3161
[email protected]