Market Newsdesk

November 18, 2020 12:45 am

Embracer Group publishes Interim Report Q2, July-September 2020: OPERATIONAL EBIT INCREASED 171% TO SEK 653 MILLION

PR Newswire

STOCKHOLM, Nov. 18, 2020 /PRNewswire/ — SECOND QUARTER, JULY-SEPTEMBER 2020 (COMPARED TO JULY-SEPTEMBER 2019)

> Net sales increased by 89% to SEK 2,383.2 million (1,259.7). Net sales of the Games business area increased by 83% to SEK 1,495.4 million (816.1). THQ Nordic SEK 566.9 million (329.6), Deep Silver SEK 506.8 million (441.7), Coffee Stain SEK 129.9 million (44.7), Saber Interactive SEK 259.1 million (-) and DECA Games SEK 32.7 million (-).

> Net sales of Partner Publishing/Film business area increased by 100% to SEK 887.8 million (443.6).

> EBITDA increased by 132% to SEK 969.0 million (418.1), corresponding to an EBITDA margin of 41%.

> Operational EBIT increased by 171% to SEK 652.5 million (240.7) corresponding to an Operational EBIT margin of 27% (19%).

> Cash flow from operating activities amounted to SEK 804.7 million (284.8). Investments in intangible assets amounted to SEK 484.1 million (391.9). Free Cash Flow amounted to SEK 311.5 million (-115.8).

> Adjusted earnings per share was SEK 1.80 (0.65).

> Organic growth in constant currency for the Games Business Area amounted to 61% in the quarter.

> Total game development projects increased 57% to 135 (86). Total headcount increased 49% to 4,445 (2,981) where total game developers increased 58% to 3,593 (2,272).

Key performance indicators, Group	Jul-Sep 2020	Jul-Sep 2019	Apr-Sep 2020	Apr-Sep 2019	Apr 2019-Mar 2020
Net sales, SEK m	2,383.2	1,259.7	4,451.9	2,401.8	5,249.4
EBITDA, SEK m	969.0	418.1	1,934.1	807.6	1,821.3
Operational EBIT, SEK m	652.5	240.7	1,364.3	444.8	1,033.0
Cash flow from operating activities, SEK m	804.7	284.8	1,537.0	723.1	1,728.3
Free cash flow, SEK m	311.5	-115.8	515.5	-68.5	-0.1
Total investments in intangible assets, SEK m	484.1	391.9	981.6	770.0	1,653.4
Total game development projects	135	86	–	–	103
Total internal and external game developers	3,593	2,272	–	–	2,365
Total headcount	4,445	2,981	–	–	3,109
Sales growth, %	89	-1	85	14	3
EBITDA margin, %	41	33	43	34	35
Operational EBIT margin, %	27	19	31	19	20

CEO Comments

OPERATIONAL EBIT INCREASED 171%

TO SEK 653 MILLION

The Group had yet another stable quarter with growing sales and profitability exceeding management expectations, driven in particular by a record strong performance of our back catalogue.

Net sales increased by 89% to a record SEK 2,383.2 million (1,259.7) whereof the Games business area contributed SEK 1,495.4 million (816.1) driven by 61% organic growth. Operational EBIT increased 171% to SEK 652.5 million (240.7), driven by strong back catalogue sales, improved quality of new releases and the generally favourable trends for gaming. The profitability was also driven by the fact that we are getting more recurring revenues from games-as-a-service or live-operated titles, for example Satisfactory, Wreckfest, Deep Rock Galactic, World War Z and the DECA catalogue.

It is gratifying to see that our companies attract and retain a lot of great talent. The number of employees has grown 17% on an organic basis in the past year. We continue to strive for long term organic growth by reinvesting our underlying operating cashflow into scaling up existing studios, setting up new studios and making more great games. Despite our efforts to find further growth investments, it is encouraging to see that our free cashflow reached a record SEK 311 million (-116) in the period.

We continue to emphasize our strategy for game development – quality comes first. Games should be released when ready. This will likely be appreciated and rewarded by our fans and gamers by more sold units, over a longer period of time at higher average selling price. Staying true to this strategy, in the recent months we decided to allow more time for polishing, bug fixing and completion to a number of titles across the operative groups.

Looking ahead this financial year ending March 31, 2021, we now expect the total value of completed games released to be SEK 1,000-1,100 million including a notable title from THQ Nordic that we still expect to launch within the fourth quarter. The third quarter will have less releases than the fourth quarter. We expect the third quarter to have new releases with expected completion value in the range of SEK 150-175 million followed by fourth quarter in the range of SEK 300-350 million. Looking ahead to the next financial year ending March 31, 2022, management is confident that it will be another record year in terms of new games released, as we see a potential to double the value of completed games compared to the current financial year.

Despite the ongoing covid-19 pandemic, we have been able to maintain operations in a good manner. The employees in our studios have been working from home where they have sustained the development and scheduled releases. It has been impressive to follow how our studios have been able to adapt to the current climate despite challenges to stay productive during the pandemic and to keep the pace at the level prior to the working from home situation. So far, we have no noticeable delays due to the coronavirus. Studios are somewhat affected by how their employees need extra support to maintain work-life balance under these new conditions and prevent ambient stress, a new challenge for management to address and consider.

We are happy to see that DECA Games, our most recent operative group, came off to a good start within the group. DECA Games will be a growth driver for the group within free-to-play going forward.

The outlook for the games market is positive. In 2020 according to Newzoo, the global market is projected to generate USD 159 billion which represents a 9% year-on-year growth. Embracer Group are a small fish in the big pond and currently represents 0.5-1% of the total market. The global market is expected to continue grow with a forecast exceeding USD 200 billion by the end of 2023. One strong factor for the continued growth is the next-generation consoles PlayStation 5 and Xbox Series X/S that are launching this month. Initially the demand will outstrip the supply, but long-term the next-generation consoles expected installed base will outperform the previous generation according to Ampere Analysis. Coupled with the on-going transition to digital distribution, which affects publisher’s gross margins, will have a positive effect on Embracer Group.

The Group continues to grow within new segments of the gaming market, like Vertigo Games specializing in VR and DECA Games with a catalogue of free-to-play and mobile titles. VR is expecting to grow from USD 3.3 billion in 2019 to 5.7 billion in 2023 according to Superdata, thanks to improved equipment that increases convenience and player experience. Mobile is the biggest segment at USD 77 billion in 2020 and showed no signs of slowing down with an estimated growth of 13% year-over-year. With over 2.7 billion players (Newzoo) the games market is becoming a global mass-market. New ways of playing and accessing games like streaming will help open up the market to a larger audience.

I am pleased to see that the operating groups are initiating an increased number of potential acquisitions. During the quarter we added eight new companies to the operative groups. The Embracer strategy to build a truly independent eco-system based on committed entrepreneurs and developers that share the same ambitious long-term mindset. I’m a firm believer in giving great people trust to make their own decisions. The M&A market is more active than ever and the past three months we have actively been engaging with more than 100 entrepreneurs who want to be part of the Embracer family, including a dozen sizable businesses that has the potential to create new operative groups under the parent company. We patiently and disciplined continue to execute our M&A strategy across the group.

To support this M&A ambitions, we completed a directed share issue of SEK 5,7 billion on October 8. The new share issue further strengthens our financial position. I was happy to see that all of our existing institutional investors participating along with a wide range of new long term investors, including Canada Pension Plan Investment Board. It is important for me as a founder and major shareholder to have reputable and sizable long-term shareholders that share the same 20 years+ horizon of building something sustainable and substantial.

To conclude, I would like to send my thanks to all of our colleagues, customers, business partners, and shareholders contributing to our growing family’s prosperity and success. I would like to personally wish you all a safe and relaxing upcoming holiday period.

All the best from Värmland

November 18, 2020, Karlstad, Sweden

Lars Wingefors

Co-founder & CEO

For more information, please contact:
Lars Wingefors
Co-founder and Group CEO
Embracer Group
Tel: +46 708 47 19 78
E-mail: [email protected]

About Embracer Group

Embracer Group is the parent company of businesses developing and publishing PC, console and mobile games for the global games market. Embracer Group has an extensive catalogue of over 190 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest, Insurgency and World War Z, amongst many others.With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its six operative groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber Interactive and DECA Games. Embracer Group has 46 internal game development studios and is engaging more than 4,000 employees and contracted employees in more than 40 countries.

Embracer Group’s shares are publicly listed on Nasdaq First North Growth Market Stockholm under the ticker EMBRAC B with FNCA Sweden AB as its Certified Adviser; [email protected] +46-8-528 00 399.

Subscribe to press releases and financial information: https://embracer.com/investors/subscription/

For more information, please visit: http://www.embracer.com

This Interim Report is information that is mandatory for Embracer Group to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 06:00 CET on November 18, 2020

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/embracer-group-ab/r/embracer-group-publishes-interim-report-q2–july-september-2020–operational-ebit-increased-171–to-,c3238866

The following files are available for download:

https://mb.cision.com/Main/15049/3238866/1336474.pdf

Embracer Group Interim Report Q2 2020

View original content:http://www.prnewswire.com/news-releases/embracer-group-publishes-interim-report-q2-july-september-2020-operational-ebit-increased-171-to-sek-653-million-301175572.html

SOURCE Embracer Group AB

November 18, 2020 12:08 am

Clean Power Capital Corp.’s Subsidiary, PowerTap Hydrogen Fueling, Announces That It Has Engaged NASA-Based Hydrogen Engineering Firm, Cryotek, as Its Engineering Design Partner to Commercialize Its Patented Hydrogen Filling Technology

VANCOUVER, British Columbia, Nov. 18, 2020 (GLOBE NEWSWIRE) — Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6A)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE“). The Company’s 90 percent owned subsidiary PowerTap Hydrogen Fueling Corp. (“PowerTap”) is pleased to announce that it has partnered with Cryotek (cryotek.com) pursuant to an 8-month contract to provide engineering and design for the next generation PowerTap hydrogen filling stations, which is planned to be deployed across North America starting in 2021. The engineering design will include:

Next Generation PowerTap Onsite Steam Methane Reformer (“SMR”) solution capable of producing 1,000kg+ per day;
Gaseous and Liquid Hydrogen storage solutions capable of 1,000kg+ or more per day;
CO2 capture solutions;
Advanced hydrogen dispensing unit; and
Artist rendition of proposed final hydrogen filling station.

Cryotek is a hydrogen engineering firm led by CEO Cody Bateman. Mr. Bateman started this firm in 1989 as Advantex Research to focus on developing engineering solutions of complex problems associated with various industries including oil and gas, pharmaceuticals, airlines and energy. In 2018, the company was rebranded to Cryotek to focus on cryogenic solutions for NASA (USA National Aeronautics and Space Administration) and the USA Department of Energy. Since then, Cryotek has focused on the future of liquid hydrogen as the energy of the future and has become a leader in the field by developing smaller hydrogen steam methane reformation (SMR) units.

“This is an excellent opportunity to work with PowerTap Hydrogen Fueling Corp. to combine our patented technologies, intellectual properties and trade secrets to deliver the next generation of the well-known PowerTap delivery system of hydrogen for the future. We have spent the last few months evaluating PowerTap’s intellectual property and design and we believe that by incorporating it with our proven technology that we will clearly have the most advanced, smallest footprint steam methane reformation hydrogen production solution and liquid storage for the trucking and automobile industry,” said Cody Bateman, CEO of Cryotek.

“PowerTap is excited to work with Cryotek as our engineering and design partner to commercialize the next generation of PowerTap hydrogen filling stations. Cody Bateman and his world class engineering team are the ideal partner for PowerTap as we plan our aggressive roll out of hydrogen filling stations commencing in 2021,” said Raghu Kilambi, CEO of PowerTap Hydrogen Fueling Corp.

Hydrogen powered vehicles have major advantages over battery electric, gas, and diesel vehicles (driving range, quicker filling time and cost per mile). Billions of dollars’ worth of hydrogen long haul trucks and cars are expected on the market in next 2-4 years from incumbents and upstarts in the next 36 months. Hydrogen-powered vehicles generate electrical power in a fuel cell, emitting only water vapor and warm air.

The major advantage of this new technology over other hydrogen filling station systems is the small physical footprint for onsite hydrogen production and storage (700 Square Feet). These new modular stations are fabricated at a central manufacturing center and delivered to existing gas stations to augment their product offering. Each hydrogen station is then fully operational within two weeks from delivery. Most existing USA hydrogen filling stations must have their hydrogen delivered at a much higher costs than PowerTap’s on-site hydrogen production cost. PowerTap’s technology-based hydrogen filling stations are currently located in private enterprises and public stations in California, Texas, Massachusetts, and Maryland.

About
PowerTap

The Company acquired a 90 percent interest in PowerTap on October 27, 2020 (see the Company’s news release on October 28, 2020). PowerTap is leading the charge to build out cost-effective hydrogen fueling infrastructure through its environmentally friendly intellectual property, product design for the modularized and lowest tier production cost of hydrogen, and launch plan. PowerTap technology-based hydrogen fueling stations are located in private enterprises and public stations (near LAX airport) in California, Texas, Massachusetts, and Maryland. Additional information about PowerTap may be found at its website at http://www.powertapfuels.com.

ABOUT
CLEAN POWER
CAPITAL CORP.

Clean Power is an investment company that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.

ON BEHALF OF THE
CLEAN POWER
CAPITAL CORP.
BOARD OF DIRECTORS

“Joel Dumaresq”

Joel Dumaresq
CEO
+1 (604) 687-2038
[email protected]

Learn more about Clean Power by visiting our website at: https://cleanpower.capital/.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Notice Regarding Forward Looking Information:

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Clean Power. Some assumptions include, without limitation, the development of hydrogen powered vehicles by vehicle makers, the adoption of hydrogen powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.

November 18, 2020 12:04 am

KAYAK Partners with Lonely Planet on their Best in Travel 2021 Awards

Partnership highlights metasearch tools for travel rooted in sustainability, community and diversity

PR Newswire

NEW YORK, Nov. 18, 2020 /PRNewswire/ — Lonely Planet has reimagined its Best in Travel picks for 2021, to reflect the new world of travel, partnering with KAYAK to seamlessly search destinations making a difference with their focus on sustainability, community and diversity. Rather than delivering a destination bucket list, Lonely Planet focused on how people travel now: outdoors; in family groups; purposefully; with careful attention to the communities they will explore.

With this year’s Best in Travel list, Lonely Planet is sharing diverse voices in travel highlighting accessible, inclusive and under-explored experiences, showcasing the people, businesses and places making a difference in 2020.

Destination highlights from Lonely Planet’s Best in Travel List 2021 include:
Sustainability– Discover the remarkable people and places transforming travel and making the world a better place – for now and future generations: Rwanda, Palau, Gothenburg, Sweden
Diversity– Celebrate the people and places that illuminate the mosaic of stories and perspectives found around the world: El Hierro, Spain, Hiakai, New Zealand, Gullah Islands, USA
Community– People who live and work within their communities know what kind of travel will benefit them locally, authentic and unforgettable experiences that give back: Kazakhstan, Faroe Islands, Medellín, Colombia

KAYAK is joining Lonely Planet on a shared mission to help people experience the world and to champion those who make travel a force for good– something both organizations think is vital in preparation for a better 2021 and beyond.

“When the time is right for them, we know that travelers will want to explore the world differently. We’ve partnered with KAYAK not only because of the intuitive widget that is integrated into Lonely Planet content to make it easier to jumpstart those future travel plans, but also because of KAYAK’s recent initiatives in the categories we are highlighting in this year’s Best in Travel awards,” said Mike Nelson, Global Director of Growth and Partnerships at Lonely Planet.

Every traveler can make a difference and, this year, Lonely Planet champions businesses, storytellers and places who make sustainability a top priority. More than ever, travelers are looking for ways to travel more sustainably. In select markets KAYAK’s eco-friendly filter and CO2 sorter allow travelers to filter flight searches for greener options.

For those interested in visiting one of the destinations in Lonely Planet’s “Best in Travel Picks” for 2021, KAYAK’s suite of tools, ranging from Explore to the leading metasearch’s Travel Restrictions map, help travelers navigate a COVID-19 world.

For more information on the Lonely Planet Best in Travel 2021 list, go to www.lonelyplanet.com/best-in-travel. Award destinations can also be explored with Lonely Planet’s Guides app for free and on social media channels via #BestInTravel.

About Lonely Planet:

Lonely Planet is a leading travel media company and the world’s number one travel guidebook brand, providing both inspiring and trustworthy information for every kind of traveler since 1973. Over the past four decades, we’ve printed over 145 million guidebooks and grown a dedicated, passionate global community of travelers. You’ll also find our content on lonelyplanet.com, Guides app, video, guidebooks in 14 languages, children’s books, lifestyle books, e-books, and more. Visit us at lonelyplanet.com or join our social community of over 14 million travelers. Find us on Facebook (facebook.com/lonelyplanet), Twitter (@lonelyplanet), Instagram (instagram.com/lonelyplanet) and Pinterest (pinterest.com/lonelyplanet).

About KAYAK:
KAYAK, part of Booking Holdings (NASDAQ: BKNG), is the world’s leading travel search engine. With more than 6 billion queries across our platforms in 2019, we help people find their perfect flight, hotel, rental car, cruise, or vacation package. For more information, visit www.KAYAK.com.

View original content:http://www.prnewswire.com/news-releases/kayak-partners-with-lonely-planet-on-their-best-in-travel-2021-awards-301175555.html

SOURCE KAYAK

November 18, 2020 12:04 am

BioSpecifics Merger Investigation: Halper Sadeh LLP Encourages BioSpecifics Technologies Corp. Shareholders to Contact the Firm – BSTC

NEW YORK, Nov. 18, 2020 (GLOBE NEWSWIRE) — Halper Sadeh LLP, a global investor rights law firm, announces it is investigating BioSpecifics Technologies Corp. (NASDAQ: BSTC) and its board of directors for possible breaches of fiduciary duty and other violations of the federal securities laws concerning the sale of BioSpecifics to Endo International plc.

Endo commenced a tender offer scheduled to expire on December 2, 2020 to acquire BioSpecifics common stock for $88.50 per share. The investigation concerns whether BioSpecifics and its board of directors violated the law by failing to: (1) obtain the best possible price for BioSpecifics shareholders; (2) conduct a fair sales process; and (3) disclose all material information necessary for BioSpecifics shareholders to adequately assess and value the merger consideration.

Halper Sadeh encourages BioSpecifics shareholders to click here to learn more about their legal rights or options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].

Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
Halper Sadeh LLP
Daniel Sadeh, Esq.
Zachary Halper, Esq.
(212) 763-0060
[email protected]
[email protected]

November 18, 2020 12:03 am

Multiple Sclerosis: Is Therapeutic Angiogenesis a Treatment or Even a Possible Cure?

Zhittya Genesis Medicine Announces It Will Host a Webinar Describing a Potential Major Medical Breakthrough for the Treatment of Multiple Sclerosis

LAS VEGAS, Nov. 18, 2020 (GLOBE NEWSWIRE) — Zhittya Genesis Medicine, Inc. (Zhittya), a private company, announced that it will give a Webinar broadcast on its potential breakthrough therapy to reverse the progression of multiple sclerosis (MS).Currently, no therapies on the market can halt or reverse this disorder. The webinar will be broadcast on Monday, November 23, 2020, at 9:00 am Pacific (12 noon Eastern). The webinar is available to all interested parties, free of charge. Click Here to Register for this Webinar

This webinar will explore how therapeutic angiogenesis may be a potentially novel way to halt the progression of multiple sclerosis by exploring several lines of evidence that the microvasculature becomes damaged in this disease, through a process which is termed “endothelial cell dysfunction”. This deterioration of the vasculature allows toxic substances and immune cells to escape from the circulatory system and directly attack adjacent neurons, leading to the brain and spinal cord lesions seen in multiple sclerosis. Zhittya believes this “endothelial dysfunction” could be the root cause of multiple Sclerosis. Zhittya has prepared a regulatory application to conduct a human clinical trial with its therapeutic angiogenesis molecule, human FGF-1, in patients with MS. The design of the upcoming clinical study to treat MS will also be discussed in this webinar.

Zhittya has prepared a White Paper entitled: “Human FGF-1 as a Potential Treatment for Multiple Sclerosis (MS)” which is available to all, free of charge, by emailing: [email protected]

Daniel C. Montano, CEO of Zhittya stated, “I believe we are truly on to something here. This new concept of deterioration of the vasculature in diseases such as MS makes us hopeful that a molecule such as our FGF-1 can heal these dysfunctional blood vessels that appear to develop in the MS lesions and will hopefully lead to the restoration of healthy neurons in this disorder. We also believe a similar process is occurring in the aging brain and FGF-1 may represent a preventative treatment for the cognitive decline seen in so many elderly individuals.”

Dr. Jack Jacobs, President of Zhittya stated, “Millions of people around the world suffer from multiple sclerosis, and we believe we may have a breakthrough therapy for this disease, which is why we will be spending many millions of dollars in clinical trials to prove if we are right or wrong. I believe this pathological process of ‘endothelial cell dysfunction’ underlies many vascular disorders and if we are able to heal these dysfunction blood vessels with FGF-1 we are going to have an enormous impact In the medical community.”

About Zhittya Genesis Medicine

Zhittya’s management has been working to advance these medicines for over 21 years and well over one hundred million dollars has been expended in preclinical and clinical studies. Zhittya’s medicine initiates a biological process in the human body referred to as “therapeutic angiogenesis” and this process will only occur in diseased tissues that become ischemic due to a lack of blood flow. In those areas with insufficient blood flow, the drug stimulates the growth of new blood vessels, providing nourishment and removing metabolic waste products, thereby re-establishing normal cellular functions. In addition, the drug can also heal damaged blood vessels that display “endothelial cell dysfunction”, a condition that develops in diseases such as multiple sclerosis and also as we age. Heart disease, stroke, peripheral artery disease (PAD) and diabetic foot ulcers are just some of the more obvious disorders the drugs can treat, but in fact, over 75 human diseases, including neurodegenerative diseases such as MS, Parkinson’s disease and Alzheimer’s disease are also targeted for this regenerative therapy.

To provide some evidence of the past success that has been seen with FGF-1, below is a link to an ABC Nightly News Broadcast discussing our drug in US FDA-cleared clinical trials where it triggered the growth of new blood vessels in the hearts of patients suffering from coronary artery disease, the number one cause of death in the world:

https://www.youtube.com/watch?v=IPtv_0LWK4k

From this video one can see the growth of new blood vessels in the heart of one of the patients that was treated. We believe that disrupted blood flow in the brain and spine is the cause of multiple sclerosis. If our drug can do in the brain, what it has accomplished in the heart, we believe we can reverse the horror of this MS neurological disorder for 50% to 70% of all sufferers.

Contact information:

Daniel C. Montano, CEO
Zhittya Genesis Medicine, Inc.
Phone: (1) 702-790-9980
E-Mail: [email protected]
Website: zgm.care

November 17, 2020 11:23 pm

Carnival Corporation & plc Announces an Equity Offering and Repurchase of Convertible Notes

PR Newswire

MIAMI, Nov. 17, 2020 /PRNewswire/ — Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), today announced that Carnival Corporation (the “Corporation”) priced a registered direct offering (the “Offering”) of an aggregate of 57,426,860 shares (the “Shares”) of its common stock at a price of $18.05 per share to a limited number of holders (the “Holders”) of its 5.75% Convertible Senior Notes due 2023 (the “Convertible Notes”). The Corporation intends to use the proceeds from the Offering to repurchase from such Holders an aggregate of $499,364,000 principal amount of its Convertible Notes (the “Note Repurchases,” and collectively with the Offering, the “Transactions”) in privately negotiated transactions.

On a net basis, the Corporation will not receive any proceeds from the Transactions and will pay customary fees and expenses in connection therewith. Therefore, the Transactions will not have a material impact on the Corporation’s cash position. Following the Note Repurchases, an aggregate of $627,547,000 principal amount of the Corporation’s Convertible Notes will remain outstanding.

The Offering is expected to close on November 19, 2020 (except with respect to 8.2 million Shares which is expected to close on November 20, 2020), subject to customary closing conditions. The Note Repurchases are expected to close promptly following the closing of the Offering (except with respect to $71.5 million aggregate principal amount of the Note Repurchases which is expected to close on November 20, 2020), subject to customary closing conditions.

Goldman Sachs & Co. LLC is acting as the exclusive placement agent for the Offering. PJT Partners LP is serving as independent financial advisor to the Corporation for the Transactions. A shelf registration statement relating to the Shares was previously filed with the U.S. Securities and Exchange Commission (“SEC”) and is effective. The Offering was made only by means of a prospectus supplement and an accompanying base prospectus. A preliminary prospectus supplement and accompanying base prospectus relating to the Offering have been filed, and a final prospectus supplement will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering may be obtained from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected].

This press release does not constitute an offer to sell or a solicitation of an offer to buy shares of common stock or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.

About Carnival Corporation & plc

Carnival Corporation & plc is one of the world’s largest leisure travel companies with a portfolio of nine of the world’s leading cruise lines. With operations in North America, Australia, Europe and Asia, its portfolio features Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.

Cautionary Note Concerning Factors That May Affect Future Results

Carnival Corporation and Carnival plc and their respective subsidiaries are referred to collectively in this press release as “Carnival Corporation & plc,” “our,” “us” and “we.” Some of the statements, estimates or projections contained in this document are “forward-looking statements” that involve risks, uncertainties and assumptions with respect to us, including some statements concerning the financing transactions described herein, future results, operations, outlooks, plans, goals, reputation, cash flows, liquidity and other events which have not yet occurred. These statements are intended to qualify for the safe harbors from liability provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking. These statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and the beliefs and assumptions of our management. We have tried, whenever possible, to identify these statements by using words like “will,” “may,” “could,” “should,” “would,” “believe,” “depends,” “expect,” “goal,” “anticipate,” “forecast,” “project,” “future,” “intend,” “plan,” “estimate,” “target,” “indicate,” “outlook,” and similar expressions of future intent or the negative of such terms.

Forward-looking statements include those statements that relate to our outlook and financial position including, but not limited to, statements regarding:

• Pricing	• Estimates of ship depreciable lives and residual values
• Booking levels	• Goodwill, ship and trademark fair values
• Occupancy	• Liquidity and credit ratings
• Interest, tax and fuel expenses	• Adjusted earnings per share
• Currency exchange rates	• The impact of the COVID-19 coronavirus global pandemic on our financial condition and results of operations
• Net cruise costs, excluding fuel per available lower berth day

Because forward-looking statements involve risks and uncertainties, there are many factors that could cause our actual results, performance or achievements to differ materially from those expressed or implied by our forward-looking statements. This note contains important cautionary statements of the known factors that we consider could materially affect the accuracy of our forward-looking statements and adversely affect our business, results of operations and financial position. Additionally, many of these risks and uncertainties are currently amplified by and will continue to be amplified by, or in the future may be amplified by, the COVID-19 outbreak. It is not possible to predict or identify all such risks. There may be additional risks that we consider immaterial or which are unknown. These factors include, but are not limited to, the following:

COVID-19 has had, and is expected to continue to have, a significant impact on our financial condition and operations, which impacts our ability to obtain acceptable financing to fund resulting reductions in cash from operations. The current, and uncertain future, impact of the COVID-19 outbreak, including its effect on the ability or desire of people to travel (including on cruises), is expected to continue to impact our results, operations, outlooks, plans, goals, reputation, litigation, cash flows, liquidity, and stock price;
As a result of the COVID-19 outbreak, we may be out of compliance with a maintenance covenant in certain of our debt facilities, for which we have waivers for the period through November 30, 2021 with the next testing date of February 28, 2022;
World events impacting the ability or desire of people to travel may lead to a decline in demand for cruises;
Incidents concerning our ships, guests or the cruise vacation industry as well as adverse weather conditions and other natural disasters may impact the satisfaction of our guests and crew and lead to reputational damage;
Changes in and non-compliance with laws and regulations under which we operate, such as those relating to health, environment, safety and security, data privacy and protection, anti-corruption, economic sanctions, trade protection and tax may lead to litigation, enforcement actions, fines, penalties and reputational damage;
Breaches in data security and lapses in data privacy as well as disruptions and other damages to our principal offices, information technology operations and system networks, including the recent ransomware incident, and failure to keep pace with developments in technology may adversely impact our business operations, the satisfaction of our guests and crew and lead to reputational damage;
Ability to recruit, develop and retain qualified shipboard personnel who live away from home for extended periods of time may adversely impact our business operations, guest services and satisfaction;
Increases in fuel prices, changes in the types of fuel consumed and availability of fuel supply may adversely impact our scheduled itineraries and costs;
Fluctuations in foreign currency exchange rates may adversely impact our financial results;
Overcapacity and competition in the cruise and land-based vacation industry may lead to a decline in our cruise sales, pricing and destination options;
Geographic regions in which we try to expand our business may be slow to develop or ultimately not develop how we expect; and
Inability to implement our shipbuilding programs and ship repairs, maintenance and refurbishments may adversely impact our business operations and the satisfaction of our guests.

The ordering of the risk factors set forth above is not intended to reflect our indication of priority or likelihood.

Forward-looking statements should not be relied upon as a prediction of actual results. Subject to any continuing obligations under applicable law or any relevant stock exchange rules, we expressly disclaim any obligation to disseminate, after the date of this document, any updates or revisions to any such forward-looking statements to reflect any change in expectations or events, conditions or circumstances on which any such statements are based.

View original content:http://www.prnewswire.com/news-releases/carnival-corporation–plc-announces-an-equity-offering-and-repurchase-of-convertible-notes-301175548.html

SOURCE Carnival Corporation & plc

November 17, 2020 11:03 pm

Oncternal Therapeutics Increases Previously Announced Bought Deal to $22.5 Million

SAN DIEGO, Nov. 17, 2020 (GLOBE NEWSWIRE) — Oncternal Therapeutics, Inc. (Nasdaq: ONCT), a clinical-stage biopharmaceutical company focused on the development of novel oncology therapies, today announced that due to demand, the underwriter has agreed to increase the size of the previously announced offering and purchase on a firm commitment basis 7,258,065 shares of common stock of the Company, at a price to the public of $3.10 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about November 20, 2020, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

The Company also has granted to the underwriter a 30-day option to purchase up to an additional 1,088,709 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to Oncternal, before deducting underwriting discounts and commissions and offering expenses and assuming no exercise of the underwriter’s option to purchase additional common stock, are expected to be approximately $22.5 million. The Company intends to use the net proceeds from this offering for general corporate purposes, including expenses related to the clinical and preclinical development of cirmtuzumab and TK216, preclinical development of its ROR1 CAR-T program, and for working capital.

The shares of common stock are being offered by Oncternal pursuant to a “shelf” registration statement on Form S-3 (File No. 333-222268) previously filed with the Securities and Exchange Commission (the “SEC”) on December 22, 2017 and declared effective by the SEC on January 5, 2018. The offering of the shares of common stock is made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the shares of common stock being offered has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. A final prospectus supplement and the accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Oncternal Therapeutics

Oncternal Therapeutics is a clinical-stage biopharmaceutical company focused on the development of novel oncology therapies for the treatment of cancers with critical unmet medical need. Oncternal focuses drug development on promising yet untapped biological pathways implicated in cancer generation or progression. The clinical pipeline includes cirmtuzumab, an investigational monoclonal antibody designed to inhibit the ROR1 pathway, a type I tyrosine kinase-like orphan receptor, that is being evaluated in a Phase 1/2 clinical trial in combination with ibrutinib for the treatment of patients with mantle cell lymphoma (MCL) and chronic lymphocytic leukemia (CLL) and in an investigator-sponsored, Phase 1b clinical trial in combination with paclitaxel for the treatment of women with HER2-negative metastatic or locally advanced, unresectable breast cancer. The clinical pipeline also includes TK216, an investigational targeted small-molecule inhibitor of the ETS family of oncoproteins, that is being evaluated in a Phase 1 clinical trial for patients with Ewing sarcoma alone and in combination with vincristine chemotherapy. In addition, Oncternal has a program utilizing the cirmtuzumab antibody backbone to develop a CAR-T therapy that targets ROR1, which is currently in preclinical development as a potential treatment for hematologic cancers and solid tumors. More information is available at www.oncternal.com.

Forward-Looking Information

Oncternal cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negatives of these terms or other similar expressions. These statements are based on Oncternal’s current beliefs and expectations. Forward-looking statements include statements regarding: the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of net proceeds from the offering. The inclusion of forward-looking statements should not be regarded as a representation by Oncternal that any of its plans will be achieved. Actual results may differ from those set forth in this release due to the risks and uncertainties inherent in Oncternal’s business, including, without limitation: market and other conditions and the satisfaction of customary closing conditions related to the offering; and other risks described in Oncternal’s prior press releases as well as in public periodic filings with the U.S. Securities & Exchange Commission. All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Oncternal undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Oncternal Contacts:

Company Contact

Richard Vincent
858-434-1113
[email protected]

Investor Contact

Corey Davis, Ph.D.
LifeSci Advisors
212-915-2577
[email protected]

Source: Oncternal Therapeutics, Inc.

November 17, 2020 10:53 pm

GOHEALTH 72 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against GoHealth, Inc. – GOCO

GOHEALTH 72 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against GoHealth, Inc. – GOCO

NEW ORLEANS–(BUSINESS WIRE)–
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until November 20, 2020 to file lead plaintiff applications in a securities class action lawsuit against GoHealth, Inc. (NasdaqGS: GOCO), if they purchased the Company’s Class A common stock issued in connection with its July 2020 initial public stock offering (the “IPO”). This action is pending in the United States District Court for the Northern District of Illinois.

What You May Do

If you purchased shares of GoHealth and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-goco/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by November 20, 2020.

About the Lawsuit

GoHealth and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) since the first half of 2020, the Medicare insurance industry was undergoing a period of elevated churn; (ii) the Company was exposed to a higher risk of customer churn due to its unique business model and limited carrier base; (iii) the Company suffered from degradations in customer persistency and retention as a result of elevated industry churn, vulnerabilities that arose from the Company’s concentrated carrier business model, and its efforts to expand into new geographies, develop new carrier partnerships and worsening product mix; (iv) the Company had entered into materially less favorable revenue sharing arrangements with its external sales agents; and (v) these adverse financial and operational trends were internally projected by GoHealth to continue and worsen following the IPO.

The case is Hudson v. GoHealth, Inc., No. 20-cv-05593.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117006329/en/

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner

[email protected]

1-877-515-1850

KEYWORDS: United States North America Louisiana

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

Logo

November 17, 2020 10:53 pm

FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of BMRN, BTU and RTX

CEDARHURST, N.Y., Nov. 17, 2020 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues this alert to shareholders of the following publicly traded companies.

BioMarin
Pharmaceutical Inc. (BMRN)

Class Period: February 28, 2020 and August 18, 2020
Lead Plaintiff Motion Deadline: November 24, 2020
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nasdaqgs-bmrn/

Peabody Energy Corp. (BTU)

Class Period: April 3, 2017 and October 28, 2019
Lead Plaintiff Motion Deadline: November 27, 2020
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nyse-btu/

Raytheon Technologies Corporati
on f/k/a Raytheon Company (
RTX, RTN
)

Class Period: February 10, 2016 and October 27, 2020
Lead Plaintiff Motion Deadline: December 29, 2020
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nyse-rtx/

Shareholders who purchased shares in these companies during the dates listed are encouraged to contact us via the case links above, by calling toll-free at 1-833-835-1495 or by email ([email protected]).

If you wish to serve as lead plaintiff with the goal of overseeing the litigation to obtain a fair and just resolution, you must petition the Court on or before the deadlines provided above.

Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 344
Cedarhurst, NY 11516
Email: [email protected]
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967
https://kclasslaw.com

November 17, 2020 10:53 pm

FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of CACC, FAF, TRQ and WFC

CEDARHURST, N.Y., Nov. 17, 2020 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues this alert to shareholders of the following publicly traded companies.

Credit Acceptance Corporation (CACC)

Class Period: November 1, 2019 and August 28, 2020
Lead Plaintiff Motion Deadline: December 1, 2020
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nasdaq g s-cacc/

Turquoise Hill Resources Ltd. (TRQ)

Class Period: July 17, 2018 and July 31, 2019
Lead Plaintiff Motion Deadline: December 14, 2020
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nyse-trq/

First American Financial Corp. (FAF)

Class Period: February 17, 2017 and October 22, 2020
Lead Plaintiff Motion Deadline: December 24, 2020
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/first-american-financial-corp/

Wells Fargo & Company (WFC)

Class Period: October 13, 2017 and October 13, 2020
Lead Plaintiff Motion Deadline: December 29, 2020
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nyse-wfc/

If you wish to serve as lead plaintiff with the goal of overseeing the litigation to obtain a fair and just resolution, you must petition the Court on or before the deadlines provided above.