Release – Comtech Telecommunications Corp. Announces Results for Its Fiscal 2021 Third Quarter and Updates Its Financial Targets for Fiscal 2021

Posted on June 9, 2021 by Admin

Comtech Telecommunications Corp. Announces Results for Its Fiscal 2021 Third Quarter and Updates Its Financial Targets for Fiscal 2021

MELVILLE, N.Y.–(BUSINESS WIRE)–Jun. 8, 2021–
June 8, 2021—
Comtech Telecommunications Corp. (NASDAQ: CMTL) today reported its operating results for the third fiscal quarter ended
April 30, 2021 and updated its financial targets for fiscal 2021.

Fiscal 2021 Third Quarter Highlights

Consolidated net sales of
$139.4 million and Adjusted EBITDA of
$17.7 million (or 12.7% of consolidated net sales). Adjusted EBITDA, which significantly exceeded
Comtech’s expectation for its third quarter of fiscal 2021, is a non-GAAP financial measure that is reconciled to the most directly comparable GAAP financial measure and is more fully defined below.

With bookings of
$115.9 million, the Company achieved a book-to-bill ratio (a measure defined as bookings divided by net sales) of 0.83 during its third quarter of fiscal 2021. Backlog as of
April 30, 2021 was
$636.5 million. The total value of multi-year contracts that
Comtech has received is substantially higher than its reported backlog. When adding Comtech’s backlog and the total unfunded value of multi-year contracts that
Comtech has received and for which it expects future orders, its revenue visibility approximates
$1.1 billion.

The Company incurred an aggregate of
$5.3 million of acquisition plan expenses due to the
April 2021 settlement of litigation related to the 2019 acquisition of GD NG-911 as well as the
March 2021 closing of the UHP acquisition. The integration of UHP into Comtech’s satellite ground station product line is well underway, and it does not expect to incur any significant acquisition plan expenses for the remainder of fiscal 2021.

The Company’s annual effective income tax rate was 11.5%, excluding a net discrete tax expense of
$0.2 million.

Comtech reported GAAP operating income of
$2.4 million, GAAP net income of
$0.8 million and GAAP net income per diluted share (“EPS”) of
$0.03 for the third quarter of fiscal 2021. Non-GAAP operating income was
$8.9 million, Non-GAAP net income was
$6.8 million and Non-GAAP EPS was
$0.26. These Non-GAAP amounts exclude acquisition plan expenses, restructuring costs, COVID-19 related costs, strategic emerging technology costs for next-generation satellite technology and a net discrete tax expense. Non-GAAP amounts are reconciled to the most directly comparable GAAP financial measures in the table below.

Comtech generated GAAP operating cash flows of
$6.8 million during the third quarter and had
$39.2 million of cash and cash equivalents and total debt outstanding of
$215.0 million as of
April 30, 2021.

Commenting on the Company’s third quarter fiscal 2021 performance, Fred Kornberg, Chairman of the Board and Chief Executive Officer, stated, “Thanks to the hard work of all of our team members, we achieved solid operating performance and have recently secured important contract awards that bode well for our future. We are continuing to invest in new state-of-the-art production and engineering facilities as well as new next-generation wireless technology solutions that we believe our customers will want in the post-COVID-19 pandemic economic recovery. Looking forward, we are confident that we will have a strong finish to fiscal 2021 and achieve growth in fiscal 2022.”

COMMENTS AND FINANCIAL TARGETS FOR EXPECTED FISCAL 2021 PERFORMANCE

Comtech is making the following comments on expected fiscal 2021 performance:

Comtech expects fiscal 2021 consolidated net sales to be in a range of
$580.0 million to
$590.0 million. This updated target primarily reflects a change in anticipated revenues in its Government Solutions segment due to the
U.S. government’s
April 2021 announcement to fully withdraw troops from
Afghanistan as well as other program changes. At the same time, the Company’s effort to streamline business operations are paying off and it continues to target Adjusted EBITDA in a range of
$74.0 million to
$76.0 million for fiscal 2021.

During the third quarter,
Comtech incurred
$0.3 million of strategic emerging technology costs for next-generation satellite technology to advance its solutions offerings to be used with new broadband satellite constellations. The Company is evaluating this new market in relation to its long-term business strategies, and it may incur additional costs over the next twelve months.

As disclosed in the Company’s Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission (“SEC”) today, at the start of Comtech’s fourth quarter of fiscal 2021, it entered into a multi-year agreement enabling a customer to potentially order hundreds of millions of dollars of its next-generation satellite earth station technology. Shortly after
Comtech signed this agreement, it received its first order valued at more than
$13.0 million to make certain customizations on behalf of this customer. Work on these efforts has commenced immediately.

Comtech expects fiscal 2021 revenue in its Commercial Solutions segment to be slightly higher than the amount it achieved in fiscal 2020, primarily due to: (i) strong demand for
Comtech’s public safety technology solutions; (ii) delivering 5G virtual mobile location-based technology solutions for two
U.S. tier-one mobile network operators; (iii) contract performance in support of a critical
U.S. Air Force and
U.S. Army Anti-jam Modem (“A3M”) program under the
U.S. Space Force’s Space and Missile Systems Center (“SMC”) agency; and (iv) deliveries of SLM-5650B satellite modems and firmware related to a previously awarded contract from the
U.S. Naval Information Warfare Systems Command.

Comtech expects fiscal 2021 revenue in its Government Solutions segment to be significantly lower than the amount it achieved in fiscal 2020. Fiscal 2021 is anticipated to reflect significantly lower sales of field support services, partially offset by demand for: (i) Manpack Satellite Terminals, networking equipment and other advanced VSAT products by the
U.S. Army; (ii) ongoing sustainment services for the
U.S. Army for the AN/TSC-198A SNAP terminal; (iii) sustainment services for the
U.S. Army’s Project Manager Mission Command (“PM MC”) Blue Force Tracking (“BFT-1”) program; and (iv) Joint Cyber Analysis Course (“JCAC”) training solutions.

During its third quarter of fiscal 2021,
Comtech initiated an effort to improve efficiencies and streamline operations in its Government Solutions segment. These efforts, which remain ongoing, include the consolidation of certain administrative and operating functions in both its
Florida and
Maryland locations. In addition,
Comtech has started to shift production of many of its key satellite earth station products from its existing
Tempe, Arizona locations to a new 146,000 square foot facility in
Chandler, Arizona as well as the combination of certain related functions. This new facility is located less than 10 miles from its current facilities and is expected to support anticipated growth and long-term business goals. Over time, these efforts are expected to improve consolidated Adjusted EBITDA margins.

Additional information about the Company’s third quarter fiscal 2021 performance and updated fiscal 2021 targets can be found in the Company’s Form 10-Q as filed with the
SEC. Because of the pandemic’s continuing impact on global business conditions, the Company is not providing any GAAP operating income, GAAP net income or GAAP EPS guidance or a reconciliation of the Company’s projected Adjusted EBITDA results to the most comparable GAAP measure, as such a reconciliation cannot be prepared without unreasonable effort. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.

Conference Call

The Company has scheduled an investor conference call for
4:30 PM (ET) on
Tuesday, June 8, 2021. Investors and the public are invited to access a live webcast of the conference call from the Investor Relations section of the
Comtech website at www.comtechtel.com. Alternatively, investors can access the conference call by dialing (800) 895-3361 (domestic), or (785) 424-1062 (international) and using the conference I.D. ”
Comtech.” A replay of the conference call will be available for seven days by dialing (800) 839-4568 or (402) 220-2681. In addition, an updated investor presentation is available on the Company’s website.

About Comtech

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in
Melville, New York. With a passion for customer success,
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain information in this press release contains forward-looking statements, including but not limited to, information relating to the Company’s future performance and financial condition, plans and objectives of the Company’s management and the Company’s assumptions regarding such future performance, financial condition, and plans and objectives that involve certain significant known and unknown risks and uncertainties and other factors not under the Company’s control which may cause its actual results, future performance and financial condition, and achievement of plans and objectives of the Company’s management to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, among other things: the possibility that the expected synergies and benefits from recent acquisitions will not be fully realized, or will not be realized within the anticipated time periods; the risk that the acquired businesses will not be integrated with the Company successfully; the possibility of disruption from recent acquisitions, making it more difficult to maintain business and operational relationships or retain key personnel; the risk that the Company will be unsuccessful in implementing a tactical shift in its Government Solutions segment away from bidding on large commodity service contracts and toward pursuing contracts for its niche products with higher margins; the nature and timing of receipt of, and the Company’s performance on, new or existing orders that can cause significant fluctuations in net sales and operating results; the timing and funding of government contracts; adjustments to gross profits on long-term contracts; risks associated with international sales; rapid technological change; evolving industry standards; new product announcements and enhancements, including the risks associated with expanding the sales of the
Company’s Heights^TM Network Platform (“HEIGHTS”); changing customer demands and or procurement strategies; changes in prevailing economic and political conditions; changes in the price of oil in global markets; changes in foreign currency exchange rates; risks associated with the Company’s legal proceedings, customer claims for indemnification, and other similar matters; risks associated with the Company’s obligations under its Credit Facility; risks associated with the Company’s large contracts; risks associated with the COVID-19 pandemic; and other factors described in this and the Company’s other filings with the
Securities and Exchange Commission.

COMTECH TELECOMMUNICATIONS CORP. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited)

	Three months ended April 30,						Nine months ended April 30,
	2021			2020			2021			2020
Net sales	$	139,376,000		$	135,121,000		$	435,886,000		$	467,042,000
Cost of sales	86,360,000			82,120,000			276,982,000			289,872,000
Gross profit	53,016,000			53,001,000			158,904,000			177,170,000

Expenses:
Selling, general and administrative	26,997,000			32,313,000			83,999,000			93,538,000
Research and development	13,092,000			12,324,000			37,391,000			40,925,000
Amortization of intangibles	5,310,000			5,517,000			15,671,000			15,952,000
Acquisition plan expenses	5,267,000			5,983,000			99,807,000			14,397,000
	50,666,000			56,137,000			236,868,000			164,812,000

Operating income (loss)	2,350,000			(3,136,000		)	(77,964,000		)	12,358,000

Other expenses (income):
Interest expense	1,518,000			1,504,000			5,233,000			4,924,000
Interest (income) and other	(276,000		)	108,000			(276,000		)	37,000

Income (loss) before provision for (benefit from) income taxes	1,108,000			(4,748,000		)	(82,921,000		)	7,397,000
Provision for (benefit from) income taxes	316,000			(759,000		)	(2,078,000		)	1,503,000

Net income (loss)	$	792,000		$	(3,989,000	)	$	(80,843,000	)	$	5,894,000
Net income (loss) per share:
Basic	$	0.03		$	(0.16	)	$	(3.12	)	$	0.24
Diluted	$	0.03		$	(0.16	)	$	(3.12	)	$	0.24

Weighted average number of common shares outstanding – basic	25,911,000			24,982,000			25,875,000			24,730,000

Weighted average number of common and common equivalent shares outstanding – diluted	26,266,000			24,982,000			25,875,000			24,892,000

COMTECH TELECOMMUNICATIONS CORP. AND SUBSIDIARIES Condensed Consolidated Balance Sheets

	April 30, 2021			July 31, 2020
	(Unaudited)			(Audited)
Assets
Current assets:
Cash and cash equivalents	$	39,198,000		$	47,878,000
Accounts receivable, net	144,132,000			126,816,000
Inventories, net	83,106,000			82,302,000
Prepaid expenses and other current assets	25,801,000			20,101,000
Total current assets	292,237,000			277,097,000
Property, plant and equipment, net	29,366,000			27,037,000
Operating lease right-of-use assets, net	47,296,000			30,033,000
Goodwill	347,780,000			330,519,000
Intangibles with finite lives, net	274,048,000			258,019,000
Deferred financing costs, net	1,839,000			2,391,000
Other assets, net	6,026,000			4,551,000
Total assets	$	998,592,000		$	929,647,000
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	33,277,000		$	23,423,000
Accrued expenses and other current liabilities	97,602,000			85,161,000
Operating lease liabilities, current	8,755,000			8,247,000
Dividends payable	2,600,000			2,468,000
Contract liabilities	56,192,000			40,250,000
Interest payable	227,000			163,000
Total current liabilities	198,653,000			159,712,000
Non-current portion of long-term debt, net	215,000,000			149,500,000
Operating lease liabilities, non-current	41,542,000			24,109,000
Income taxes payable	2,588,000			1,963,000
Deferred tax liability, net	24,495,000			17,637,000
Long-term contract liabilities	8,997,000			9,596,000
Other liabilities	15,695,000			17,831,000
Total liabilities	506,970,000			380,348,000
Commitments and contingencies
Stockholders’ equity:
Preferred stock, par value $.10 per share; shares authorized and unissued 2,000,000	—			—
Common stock, par value $0.10 per share; authorized 100,000,000 shares; issued 41,102,215 shares and 39,924,439 shares at April 30, 2021 and July 31, 2020, respectively	4,110,000			3,992,000
Additional paid-in capital	601,029,000			569,891,000
Retained earnings	328,332,000			417,265,000
	933,471,000			991,148,000
Less:
Treasury stock, at cost (15,033,317 shares at April 30, 2021 and July 31, 2020)	(441,849,000		)	(441,849,000		)
Total stockholders’ equity	491,622,000			549,299,000
Total liabilities and stockholders’ equity	$	998,592,000		$	929,647,000

COMTECH TELECOMMUNICATIONS CORP.
AND SUBSIDIARIES
Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures
(Unaudited)

Use of Non-GAAP Financial Measures

In order to provide investors with additional information regarding its financial results, this press release contains “Non-GAAP financial measures” under the rules of the
SEC. The Company’s Adjusted EBITDA is a Non-GAAP measure that represents earnings (loss) before income taxes, interest (income) and other, write-off of deferred financing costs, interest expense, amortization of stock-based compensation, amortization of intangible assets, depreciation expense, estimated contract settlement costs, settlement of intellectual property litigation, acquisition plan expenses, restructuring costs, COVID-19 related costs, strategic emerging technology costs (for next-generation satellite technology), facility exit costs, strategic alternatives analysis expenses and other. The Company’s definition of Adjusted EBITDA may differ from the definition of EBITDA or Adjusted EBITDA used by other companies and therefore may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA is also a measure frequently requested by the Company’s investors and analysts. The Company believes that investors and analysts may use Adjusted EBITDA, along with other information contained in its
SEC filings, in assessing the Company’s performance and comparability of its results with other companies. The Company’s Non-GAAP measures for consolidated operating income, net income and net income per diluted share reflect the GAAP measures as reported, adjusted for certain items as discussed below. These Non-GAAP financial measures have limitations as an analytical tool as they exclude the financial impact of transactions necessary to conduct the Company’s business, such as the granting of equity compensation awards, and are not intended to be an alternative to financial measures prepared in accordance with GAAP. These measures are adjusted as described in the reconciliation of GAAP to Non-GAAP in the below tables, but these adjustments should not be construed as an inference that all of these adjustments or costs are unusual, infrequent or non-recurring. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures determined in accordance with GAAP. Investors are advised to carefully review the GAAP financial results that are disclosed in the Company’s
SEC filings. The Company has not quantitatively reconciled its fiscal 2021 Adjusted EBITDA target to the most directly comparable GAAP measure because items such as stock-based compensation, adjustments to the provision for income taxes, amortization of intangibles and interest expense, which are specific items that impact these measures, have not yet occurred, are out of the Company’s control, or cannot be predicted. For example, quantification of stock-based compensation expense requires inputs such as the number of shares granted and market price that are not currently ascertainable. Accordingly, reconciliations to the Non-GAAP forward looking metrics are not available without unreasonable effort and such unavailable reconciling items could significantly impact the Company’s financial results.

	Three months ended						Nine months ended					Fiscal
	April 30,						April 30,					Year
	2021			2020			2021			2020		2020
Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA:
Net income (loss)	$	792,000		$	(3,989,000	)	$	(80,843,000	)	$	5,894,000	$	7,020,000
Provision for (benefit from) income taxes	316,000			(759,000		)	(2,078,000		)	1,503,000		2,290,000
Interest (income) and other	(276,000		)	108,000			(276,000		)	37,000		(190,000		)
Interest expense	1,518,000			1,504,000			5,233,000			4,924,000		6,054,000
Amortization of stock-based compensation	1,204,000			981,000			3,190,000			3,098,000		9,275,000
Amortization of intangibles	5,310,000			5,517,000			15,671,000			15,952,000		21,595,000
Depreciation	2,274,000			2,650,000			7,283,000			8,022,000		10,561,000
Estimated contract settlement costs	—			476,000			—			444,000		444,000
Acquisition plan expenses	5,267,000			5,983,000			99,807,000			14,397,000		20,754,000
Restructuring costs	594,000			—			1,195,000			—		—
COVID-19 related costs	416,000			—			576,000			—		—
Strategic emerging technology costs	315,000			—			315,000			—		—
Adjusted EBITDA	$	17,730,000		$	12,471,000		$	50,073,000		$	54,271,000	$	77,803,000

In addition, a reconciliation of
Comtech’s GAAP consolidated operating income (loss), net income (loss) and net income (loss) per diluted share to the corresponding non-GAAP measures is shown in the tables below for the three and nine months ended
April 30, 2021 and 2020:

	April 30, 2021
	Three months ended									Nine months ended
	Operating Income			Net Income			Net Income per Diluted Share*			Operating (Loss) Income			Net (Loss) Income			Net (Loss) Income per Diluted Share*
Reconciliation of GAAP to Non-GAAP Earnings:
GAAP measures, as reported	$	2,350,000		$	792,000		$	0.03		$	(77,964,000	)	$	(80,843,000	)	$	(3.12	)
Acquisition plan expenses	5,267,000			4,661,000			0.18			99,807,000			96,379,000			3.70
Restructuring costs	594,000			526,000			0.02			1,195,000			1,058,000			0.04
COVID-19 related costs	416,000			368,000			0.01			576,000			510,000			0.02
Strategic emerging technology costs	315,000			279,000			0.01			315,000			279,000			0.01
Interest expense	—			—			—			—			1,043,000			0.04
Net discrete tax expense (benefit)	—			189,000			0.01			—			(592,000		)	(0.02		)
Non-GAAP measures	$	8,942,000		$	6,815,000		$	0.26		$	23,929,000		$	17,834,000		$	0.69

	April 30, 2020
	Three months ended									Nine months ended
	Operating (Loss) Income			Net (Loss) Income			Net (Loss) Income per Diluted Share*			Operating Income			Net Income			Net Income per Diluted Share*
Reconciliation of GAAP to Non-GAAP Earnings:
GAAP measures, as reported	$	(3,136,000	)	$	(3,989,000	)	$	(0.16	)	$	12,358,000		$	5,894,000		$	0.24
Acquisition plan expenses	5,983,000			4,128,000			0.16			14,397,000			9,934,000			0.40
Estimated contract settlement costs	476,000			328,000			0.01			444,000			306,000			0.01
Net discrete tax expense (benefit)	—			713,000			0.03			—			(790,000		)	(0.03		)
Non-GAAP measures	$	3,323,000		$	1,180,000		$	0.05		$	27,199,000		$	15,344,000		$	0.62

	Fiscal Year 2020
	Operating Income			Net Income			Net Income per Diluted Share*
Reconciliation of GAAP to Non-GAAP Earnings:
GAAP measures, as reported	$	15,174,000		$	7,020,000		$	0.28
Estimated contract settlement costs	444,000			280,000			0.01
Acquisition plan expenses	20,754,000			13,075,000			0.53
Net discrete tax benefit	—			(1,155,000		)	(0.05		)
Non-GAAP measures	$	36,372,000		$	19,220,000		$	0.77

* Per share amounts may not foot due to rounding. Non-GAAP EPS adjustments for the nine months ended
April 30, 2021 were computed using 26,016,000 weighted average diluted shares outstanding during the respective period. In addition, non-GAAP EPS adjustments for three months ended
April 30, 2020 were computed using 25,058,000 weighted average diluted shares outstanding during the respective period.

Media Contact:
Michael D. Porcelain, President and Chief Operating Officer
(631) 962-7000
[email protected]

Source:
Comtech Telecommunications Corp.

Release – Comtech Telecommunications Corp. Declares 0.10 Per Share Quarterly Cash Dividend

Posted on June 9, 2021 by Admin

Comtech Telecommunications Corp. Declares $0.10 Per Share Quarterly Cash Dividend

MELVILLE, N.Y.–(BUSINESS WIRE)–Jun. 8, 2021–
June 8, 2021—
Comtech Telecommunications Corp. (NASDAQ: CMTL) announced today that its Board of Directors declared a quarterly cash dividend of
$0.10 per share, payable on
August 20, 2021, to shareholders of record at the close of business on
July 21, 2021. The dividend is the Company’s forty-fourth consecutive quarterly dividend. Future dividends remain subject to compliance with financial covenants under the Company’s secured credit facility as well as Board approval.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such
Securities and Exchange Commission filings.

Media Contacts:
Michael D. Porcelain, President and Chief Operating Officer
(631) 962-7000
[email protected]

Source:
Comtech Telecommunications Corp.

Release – Lineage Cell Therapeutics Set to Join Russell 3000 Index and Russell Microcap Index

Posted on June 9, 2021 by Admin

Lineage Cell Therapeutics Set to Join Russell 3000® Index and Russell Microcap® Index

CARLSBAD, Calif.–(BUSINESS WIRE)–Jun. 9, 2021–

Lineage Cell Therapeutics, Inc.
(NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, announced today that it is set to join the broad-market Russell 3000^® Index as well as the Russell Microcap^®Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on
June 28, 2021, according to a preliminary list of additions posted on
June 4, 2021, by FTSE Russell, a leading global index provider.

Annual Russell indexes reconstitution captures the 4,000 largest
U.S. stocks as of
May 7, 2021, ranking them by total market capitalization. Membership in the
U.S. all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as the appropriate growth and value style indexes. Membership in the Russell Microcap^® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

“Lineage’s inclusion on the preliminary list of additions to the Russell 3000^® Index and the Russell Microcap^®Index reflects progress we have made to establish ourselves as a leader in cell therapy and regenerative medicine,” stated Brian M. Culley, Lineage’s CEO. “During the past year, we have delivered significant clinical, manufacturing, and business milestones which have created considerable value for our shareholders, and we intend to be diligent in our efforts to benefit from the explosive growth we believe the field of cell therapy will experience in the months and years ahead. We believe our inclusion in the Russell indexes will help broaden awareness of Lineage’s corporate mission and objectives among a wider audience of investors and help drive an increase in the liquidity of our stock.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately
$10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell.

About FTSE Russell

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately
$17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.

About Lineage Cell Therapeutics, Inc.

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel cell therapies for unmet medical needs. Lineage’s programs are based on its robust proprietary cell-based therapy platform and associated in-house development and manufacturing capabilities. With this platform Lineage develops and manufactures specialized, terminally differentiated human cells from its pluripotent and progenitor cell starting materials. These differentiated cells are developed to either replace or support cells that are dysfunctional or absent due to degenerative disease or traumatic injury or administered as a means of helping the body mount an effective immune response to cancer. Lineage’s clinical programs are in markets with billion dollar opportunities and include three allogeneic (“off-the-shelf”) product candidates: (i) OpRegen^®, a retinal pigment epithelium transplant therapy in Phase 1/2a development for the treatment of dry age-related macular degeneration, a leading cause of blindness in the developed world; (ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of acute spinal cord injuries; and (iii) VAC2, an allogeneic dendritic cell therapy produced from Lineage’s VAC technology platform for immuno-oncology and infectious disease, currently in Phase 1 clinical development for the treatment of non-small cell lung cancer. For more information, please visit www.lineagecell.com or follow the Company on Twitter @LineageCell.

Forward-Looking Statements

Lineage cautions you that all statements, other than statements of historical facts, contained in this press release, are forward-looking statements. Forward-looking statements, in some cases, can be identified by terms such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,” “could,” “can,” “plan,” “potential,” “predict,” “seek,” “should,” “would,” “contemplate,” project,” “target,” “tend to,” or the negative version of these words and similar expressions. Such statements include, but are not limited to, statements relating to Lineage’s inclusion in the Russell indexes, anticipated growth in the field of cell therapy, and the potential benefits to Lineage and its shareholders as a result. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Lineage’s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including risks and uncertainties inherent in Lineage’s business and other risks in Lineage’s filings with the
Securities and Exchange Commission (SEC). Lineage’s forward-looking statements are based upon its current expectations and involve assumptions that may never materialize or may prove to be incorrect. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. Further information regarding these and other risks is included under the heading “Risk Factors” in Lineage’s periodic reports with the
SEC, including Lineage’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the
SEC and its other reports, which are available from the SEC’s website. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Lineage undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

The information in this announcement about the Russell indexes and FTSE Russell was obtained from FTSE Russell. Lineage has not independently verified such information and there can be no assurance as to its accuracy.

Lineage Cell Therapeutics, Inc. IR
Ioana C. Hone
([email protected])
(442) 287-8963

Solebury Trout IR
Gitanjali Jain Ogawa
([email protected])
(646) 378-2949

Russo Partners – Media Relations
Nic Johnson or David Schull
[email protected]
[email protected]
(212) 845-4242

Source:
Lineage Cell Therapeutics, Inc.

Release – Orion Group Holdings Announces Sale of Tampa Property

Posted on June 9, 2021 by Admin

Orion Group Holdings, Inc. Announces Sale of Tampa Property

HOUSTON–(BUSINESS WIRE)–Jun. 8, 2021–
Orion Group Holdings, Inc. (NYSE: ORN) (“Orion” or the “Company”) a leading specialty construction company, today announced the sale of its
Tampa property located on
West Tyson Avenue.

Under its previously announced efforts to monetize certain real estate assets, Orion has completed the sale of its
Tampa property on
West Tyson Avenue and has received net proceeds of approximately
$22 million. The Company will record a gain on the sale.

“The sale of the
Tampa property further strengthens our balance sheet and enhances our liquidity as we are currently investing in our new ERP system, along with rebuilding and upgrading one of our dredges,” said Mark Stauffer, Orion’s President and Chief Executive Officer. “As we have previously stated, we will continue to evaluate all potential options for capital allocation as we execute our strategic plan.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental
United States,
Alaska,
Canada and the
Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in
Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as ‘believes’, ‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘seeks’, ‘approximately’, ‘intends’, ‘plans’, ‘estimates’, or ‘anticipates’, or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company’s fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company’s plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on
March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
[email protected]
www.oriongroupholdingsinc.com

Robert Tabb, Executive Vice President & CFO
(713) 852-6500
www.oriongroupholdingsinc.com

Source:
Orion Group Holdings, Inc.

Release – Esports Entertainment Group Partners with CEAC to Host Inaugural Cinema and Esports Event

Posted on June 9, 2021 by Admin

Esports Entertainment Group Partners with CEAC to Host Inaugural Cinema & Esports Event

Event will explore how cinemas can gain new revenue streams and the esports community can add venues for viewing and practices

Newark, New Jersey–(Newsfile Corp. – June 9, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, today announced a partnership with Cinema Esports Alliance Co., an organization dedicated to the growth of esports in cinema, to host a virtual event to bridge the gap and open the door of communication between the cinema and esports industries. The inaugural event will delve deeper into how both industries can support each other. While cinemas are eager to find new revenue streams, the esports community seeks new venues for practices and viewing parties.

“We are excited to partner with the CEAC to help cinemas attract the gamer community into their facilities,” stated Grant Johnson, CEO of Esports Entertainment Group. “We believe we have a turnkey, fully-integrated esports solution that can support cinema exhibition of esports including tournaments and onsite infrastructure.”

“Cinemas have looked at esports with interest because the profile of the gamer is similar to that of the avid moviegoer,” added Heather Blair, founder of CEAC. “With concern for lack of or inconsistent movie content, cinemas are motivated to seek other types of entertainment to offer their customers and attract new ones. This event pairs experts in several fields willing to discuss their successes and pitfalls of their past and current projects and programs surrounding this topic.”

The event will take place virtually on June 22 at 10:00 a.m. PST/1:00 p.m. EST with registration open to all, but prior RSVP
required. The speakers will include Magnus Leppäniemi , President of Esports at EEG, Glen Elliott, founder of Esports Gaming League, Scott Russel, Head of Gaming APAC at Blackhawk Network, and Adam Saks, CEO of Level Up Entertainment/UltraStar Multi-tainment.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498

[email protected]

Media & Investor Relations Inquiries
[email protected]

Disclosure:

RedChip Companies, Inc. research reports, company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in RedChip reports, company profiles, or other investor relations materials and presentations are subject to change. RedChip Companies and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time.

The information contained herein is not intended to be used as the basis for investment decisions and should not be construed as advice intended to meet the particular investment needs of any investor. The information contained herein is not a representation or warranty and is not an offer or solicitation of an offer to buy or sell any security. To the fullest extent of the law, RedChip Companies, Inc., our specialists, advisors, and partners will not be liable to any person or entity for the quality, accuracy, completeness, reliability or timeliness of the information provided, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information provided to any person or entity (including but not limited to lost profits, loss of opportunities, trading losses and damages that may result from any inaccuracy or incompleteness of this information).

Stock market investing is inherently risky. RedChip Companies is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.

We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission (“SEC”) at www.sec.gov.

Esports Entertainment Group, Inc. (GMBL) is a client of RedChip Companies, Inc. GMBL agreed to pay RedChip Companies, Inc. a $4,000 monthly cash fee, beginning in June 2018, and 225,000 shares of Rule 144 stock for RedChip investor awareness services.

Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. RedChip investor awareness services include the preparation of a research profile(s), multimedia marketing, and other awareness services.

Release – electroCore Completes Sale of 1.4 Million of NJ NOL Tax Benefits

Posted on June 9, 2021 by Admin

electroCore Completes Sale of $1.4 Million of NJ NOL Tax Benefits

ROCKAWAY, NJ,
June 09, 2021 (GLOBE NEWSWIRE) —
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced that it has completed the sale of
$1.4 million of its available tax benefits through the New Jersey Economic Development Authority’s Technology Business Tax Certificate Transfer program for fiscal years 2019 and 2020. As a result, the Company has received approximately
$1.4 million in non-dilutive cash from the sale of these net operating loss (NOL) tax benefits.

“This transaction strengthens our balance sheet and further improves our cash position,” commented Brian Posner, Chief Financial Officer of electroCore. “The funding will extend our efforts in commercializing gammaCore and fortify our ability to expand our non-invasive vagus nerve stimulation (nVNS) therapy into new markets.”

The New Jersey Technology Business Tax Certificate Transfer program enables qualified, NJ-based technology or biotechnology companies with NOLs and fewer than 225 U.S. employees to sell a percentage of their NOL tax credits to unrelated profitable corporations. NOLs may be sold for at least 80 percent of their value, up to a maximum lifetime benefit of
$15 million per business. This allows qualifying technology and biotechnology companies with NOLs to turn tax losses and credits into cash proceeds to fund their growth and operations, including research and development or other allowable expenditures.

About electroCore, Inc.

electroCore, Inc. is a commercial stage bioelectronic medicine company dedicated to improving patient outcomes through its platform non-invasive vagus nerve stimulation therapy initially focused on the treatment of multiple conditions in neurology. The company’s current indications are for the preventative treatment of cluster headache and migraine and acute treatment of migraine and episodic cluster headache.

For more information, visit www.electrocore.com.

About gammaCore^TM

gammaCore^TM (nVNS) is the first non-invasive, hand-held medical therapy applied at the neck as an adjunctive therapy to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable, easy-to-use technology, gammaCore can be self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.

gammaCore is FDA cleared in the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, and the acute and preventive treatment of migraine in adolescent (ages 12 and older) and adult patients. gammaCore is CE-marked in the European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults.

gammaCore is contraindicated for patients if they:
- Have an active implantable medical device, such as pacemaker, hearing aid implant, or implanted electronic device
- Have a metallic device such as a stent, bone plate, or bone screw, implanted at or near the neck
- Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)
Safety and efficacy of gammaCore have not been evaluated in the following patients:
- Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
- Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
- Pediatric patients (less than 12 years of age)
- Pregnant women
- Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia

Please refer to the gammaCore Instructions for Use for all the important warnings and precautions before using or prescribing this product.

Forward-looking statement
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding electroCore’s business prospects, its sales and marketing and product development plans, future cash flow projections, anticipated costs, its product portfolio or potential markets for its technologies, the availability and impact of payor coverage, the potential of nVNS generally and gammaCore in particular to treat COVID-19, and other statements that are not historical in nature, particularly those using terminology such as “anticipates,” “expects,” “believes,” “intends,” other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to obtain additional financing necessary to continue electroCore’s business, sales and marketing and product development plans, the uncertainties inherent in the development of new products or technologies, the ability to successfully commercialize gammaCore™, competition in the industry in which electroCore operates and general market conditions. All forward-looking statements are made as of the date of this press release, and electroCore undertakes no obligation to update forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should refer to all information set forth in this document and should also refer to the disclosure of risk factors set forth in the reports and other documents electroCore files with the
SEC, available at www.sec.gov.

Investors:
Rich CockrellCG Capital
404-736-3838
[email protected]

or

Media Contact:
Summer Diaz
electroCore
816-401-6333
[email protected]

QuickChek – June 8, 2021

Posted on June 8, 2021 by Admin

Gevo Set to Join Russell 3000® Index

Gevo announced that it expects to join the broad-market Russell 3000 Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, 2021

Research, News & Market Data on Gevo

Watch recent presentation from NobleCon17

Kratos Completes Major Milestone in Build-Out of Advanced Space Radio Monitoring System

Kratos Defense & Security Solutions announced that it has successfully completed the Critical Design Review (CDR) for the build out of the advanced space radio monitoring system for the Communications Regulatory Authority of the State of Qatar

Research, News & Market Data on Kratos

Endeavour Silver Drilling Intersects High-Grade Silver-Gold Mineralization In Multiple Veins At The Terronera Project In Jalisco, Mexico

Endeavour Silver announced that it has intercepted high grade silver-gold mineralization in a number of structures near the Terronera vein

Research, News & Market Data on Endeavour Silver

Watch recent presentation from NobleCon17

Avivagen to Present at LD Micro Conference Presentation on June 10th, at 10:30 A.M. EST

Avivagen announced that it will be virtually presenting at the LD Micro Conference on June 10th

Research, News & Market Data on Avivagen

Watch recent presentation from Avivagen

Comstock to Present at the LD Micro Invitational XI Investor Conference

Comstock Mining announced that it will present at the 2021 LD Micro Invitational XI Investor Conference on Wednesday, June 9, 2021

Yesterday’s research report on Comstock from Mark Reichman, Senior Research Analyst of Natural Resources at Noble Capital Markets

Research, News & Market Data on Comstock

Watch recent presentation from Comstock Mining

PDS Biotech Announces Release of Interim Data for PDS0101 in NCI-Led Phase 2 Clinical Study

PDS Biotech announced the presentation of interim data from the Phase 2 trial at the American Society of Clinical Oncology (ASCO) 2021 Annual Meeting

Research, News & Market Data on PDS Biotech

Watch recent presentation from PDS Biotech

Flotek Welcomes Lisa Mayr To Board Of Directors

Flotek Industries welcomes Lisa Mayr to its Board of Directors, increasing its directors from six to seven

Research, News & Market Data on Flotek

Watch recent presentation from NobleCon17

Stay up to date. Follow us:

Bill Ackmans Most Unusual SPAC Deal

Posted on June 8, 2021 by Admin


Image Credit: Portal Focka (Flickr)

Are Investors Getting Even More than They Bargained for with the Pershing Square SPAC?

The pace of SPAC creation runs in cycles, as do other areas of finance. When money is flowing, and merger targets seem plentiful, SPAC IPOs begin to bloom. When targets are fewer or investors see more attractive alternative opportunities, SPAC creation wanes. Last year when hedge fund manager Bill Ackman’s SPAC raised a record $4bn, he helped kick off a wave of new SPAC IPOs, all hunting for great candidates to fulfill the company objective.

Ackman’s massive SPAC, Pershing Square Tontine Holdings (PSTH), did not find its one “unicorn,” which was its stated intent. Instead, it became creative and looks to add to shareholder value in an altered and even more diversified way. Back in February of this year, Vivendi the owner of Universal Music Group (UMG) announced that it would spin off its music business and list it in the Netherlands in late 2021. Once the spinoff is completed, Vivendi would still hold a one-fifth stake, the Chinese tech company Tencent would own another fifth, the remainder would have been distributed to investors. This would unlock value for Vivendi holders in the growing streaming services by delinking them from the larger company.

Where PSTH Fits In

Ackman saw the UMG portfolio of artists and streaming music profits as a means to fulfill and uphold the objective for PSTH shareholders. Pershing Square Tontine is now moving forward to own 10% of UMG. This transaction to own a fractional share of a company, is not what was expected by investors, onlookers, and probably not even Ackman a year ago.

Instead of purchasing a large well established private company and owning and controlling it, the 10% stake that is to be purchased by PSTH is based on a $40b valuation. It will distribute shares to PSTH investors after the Netherlands listing later this year. This partial, noncontrolling deal is new ground for SPACs, but that isn’t where it ends. After the 10% stake of UMG is owned by the SPAC investors, PSTH will have “change” left over. With the remaining cash PSTH will continue as a blank check company and continue to look for another target. Ackman will also create a new vehicle intended to provide the PSTH investors with other options without tying up cash up-front.

This trilogy arrangement is new to the industry and was initially met with PSTH shares weakening. They have since recovered somewhat.

The Other Two Shots at a Unicorn

The initial SPAC (PSTH) will remain a cash shell company with substantially less dry powder with which to spend on a target. However, it will have access to up to $2.9b through an agreement with Ackman’s hedge fund. Pershing Square Funds owns about 29% of the company (PSTH) and is not placing a two-year deadline on finding the right second target.

The third vehicle does not take the form of a SPAC at all. In a world where private company valuations rise and fall, this additional option for PSTH investors makes timing and time limit, less of an issue. Ackman is calling this new structure a Special Purpose Acquisition Rights Company (SPARC). The holders will have the option but not the obligation to participate in the next deal. The SPARC does not list on any exchange, it doesn’t raise money until a target is identified, and there is no obligation to exercise the option to be in the deal once struck.

Take-Away

Although the partial Universal Music stake may be a little “off-beat” for a SPAC, the overall results over time may turn out more beneficial than the conventional SPAC acquisition expected. The arrangement may also set in motion more creativity in the SPAC acquisition space in that it provides investors more possibilities, albeit more complex deals to understand.

SPAC investors do have the opportunity to opt-out and receive the remaining pro-rata share of their investment, so the risk to the holders of PSTH was always that an appropriate deal would not be found. They now at least have the option to weigh the appropriateness of this trilogy arrangement and forecast its future value for them.

Suggested Content:


Lifecycle of a SPAC	Analysis of a SPAC


Regulation of a SPAC	Merger of a SPAC

Sources:

https://www.bloombergquint.com/gadfly/bill-ackman-spac-umg-deal-make-room-for-the-sparc

https://apnews.com/article/entertainment-music-arts-and-entertainment-business-3ec22cadc0cc5292fb69baa1b96bf98d

https://amp.ft.com/content/d77d9883-6b01-4458-9180-8579aa4d346f

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Release – Avivagen to Present at LD Micro Conference Presentation on June 10th

Posted on June 8, 2021 by Admin

Avivagen to Present at LD Micro Conference Presentation on June 10th, at 10:30 A.M. EST

Ottawa, ON / Business Wire/ June 8, 2021 / Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, announces that it will be virtually presenting at the LD Micro Conference on June 10th at 10:30 A.M. Kym Anthony, Avivagen’s C.E.O., will be presenting for the company.

Summary of LD Micro Invitational XI Event
The 2021 LD Micro Invitational will be held on the Sequire Virtual Events platform on Tuesday, June 8th – Thursday, June 10th, 2021.

The presentations run from 7:00 AM PT – 3:00 PM PT / 10:00 AM ET – 6:00 PM ET each day.

This three-day, virtual investor conference is expected to feature around 180 companies, presenting for 25 minutes each, as well as several influential keynote speakers. The first day of this conference will also feature an exceptional one-time event: the LD Micro Hall of Fame.

To register to attend the event, please access the following link: https://ldmicrojune2021.mysequire.com/

About OxC-beta™ Technology and OxC-beta™ Livestock
Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about beta-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Mexico, Taiwan, New Zealand, Thailand, Brazil, Australia and Malaysia.

Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

About Avivagen
Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance. It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.

For more information:
Avivagen Inc.
Drew Basek
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Phone: 416-540-0733
E-mail: [email protected]

Kym Anthony
Chief Executive Officer
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Head Office Phone: 613-949-8164
Website: www.avivagen.com

Release – Comstock to Present at the LD Micro Invitational XI Investor Conference

Posted on June 8, 2021 by Admin

Comstock to Present at the LD Micro Invitational XI Investor Conference

Virginia City, NV (June 8, 2021) – Comstock Mining Inc. (NYSE: LODE) (“Comstock” or the “Company”) announced today that its Executive Chairman and CEO, Corrado De Gasperis, will present at the 2021 LD Micro Invitational XI Investor Conference on Wednesday, June 9, 2021.

Presentation details:

Date: Wednesday, June 9, 2021

Time: 10:30-11:00am EDT

Investors can register for the conference HERE.

About Comstock Mining Inc.

Comstock (NYSE: LODE) is an emerging leader in the sustainable extraction, valorization, and production of innovation-based, clean, renewable natural resources, with a focus on high-value, cash-generating, strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Comstock is also set to join the Russell Microcap^Ò Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted June 4, 2021. Membership in the Russell Microcap^® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

About 2021 LD Micro Invitational XI

LD Micro is the host of the most influential conferences in the small-cap world. This Invitational, in particular, is unique as Day One celebrates the Hall of Fame, highlighting some of the top performers since LD’s inception in 2008. Day Two and Three focus on newcomers and companies on the “cusp” of doing big things. Welcome aboard this incredible glimpse into an incredibly bright future.

https://ldmicrojune2021.mysequire.com/

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements 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. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

Contact information:

Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
ComstockMining.com

Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
[email protected]

Zach Spencer
Director of External Relations
Tel (775) 847-5272 Ext.151
[email protected]

Release – Kratos Completes Major Milestone in Build-Out of Advanced Space Radio Monitoring System

Posted on June 8, 2021 by Admin

Kratos Completes Major Milestone in Build-Out of Advanced Space Radio Monitoring System for the Communications Regulatory Authority (CRA) of the State of Qatar

Successful Critical Design Review Accelerates Path to Production and Testing of System

SAN DIEGO,
June 08, 2021 (GLOBE NEWSWIRE) —
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has successfully completed the Critical Design Review (CDR) for the build out of the advanced space radio monitoring system for the
Communications Regulatory Authority (CRA) of the
State of Qatar.

Kratos is providing turnkey services from the design, installation, and integration of the advanced space radio monitoring system to help the CRA regulate and protect the satellite spectrum. As part of the contract, awarded in 2020, the scope of work includes implementing the core satellite technology and associated hardware and software.

The advanced space radio monitoring system includes a fixed site and mobile unit to monitor satellite downlinks to manage and protect the spectrum. The comprehensive system includes Kratos’ antennas, satellite monitoring and geolocation products, and an Unmanned Aerial Vehicle (UAV) spectrum analysis solution to detect and mitigate any potential interference events.

“The rapid rise in the number of wireless networks and devices increases the potential for unauthorized usage, interference, and illegal transmissions,” said Bruno Dupas, President of Kratos’ operation in
France. “We are designing and building this one-of-a-kind satellite radio monitoring station for the
State of Qatar to support the delivery of reliable licensed satellite services and interference-free operations.”

Kratos is uniquely positioned to help government agencies protect the spectrum and has worked with numerous regulators across the globe to implement successful spectrum monitoring solutions. Kratos offers extensive turnkey capabilities and a range of advanced products that spans the full range of ground operations including networks, RF management, and Space Domain Awareness (SDA).

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended
December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the
SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
[email protected]

Source: Kratos Defense & Security Solutions, Inc.

Release – Flotek Welcomes Lisa Mayr To Board Of Directors

Posted on June 8, 2021 by Admin

Flotek Welcomes Lisa Mayr To Board Of Directors

HOUSTON, June 7, 2021 – Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) welcomes Lisa Mayr to its Board of Directors (“Board”), increasing its directors from six to seven. Mayr was appointed a member of the audit committee and has been designated an “audit committee financial expert” by the Board as a result of her accounting and financial management experience. She will also serve as a member of the corporate governance and nominating committee.

Mayr brings more than 25 years of financial and accounting experience to the Board. She is currently the Chief Financial Officer (CFO) of digital infrastructure provider Internap Holding LLC, a position she has held since July 2020. Prior to joining Internap, Mayr served as CFO of multiple software and technology companies, including MicroStrategy Incorporated, a data analytics software company, and educational technology companies Blackboard and EverFi. She has also held financial leadership roles at both public and private companies such as LivingSocial, GeoEye and Sunrise Senior Living. Early in her career, she served at Ernst & Young LLP in the transaction and advisory services practice.

John W. Gibson, Jr., Chairman, President, and Chief Executive Officer of Flotek stated: “After an extensive search prioritizing gender diversity, financial acumen, digital transformation and executive experience, we have found a highly qualified director in Lisa. She brings strong financial leadership from both public and private companies and a passion for maximizing her impact based on her experience. I know she will immediately and positively contribute to our board and Company.”

Mayr said, “I am excited to join the Flotek team and be a part of a high-performing, high-quality board. I look forward to working with the team during such an important time in the Company’s history.”

Mayr currently serves as a board observer and on the audit committee of WorldStrides, an educational travel company, and is the board chair of STEM for Her, a non-profit that encourages girls and young women to pursue careers in STEM. She has a bachelor’s degree in International Studies and Economics from American University and a Master of Business Administration from Georgetown University.

The Board search was conducted by Heidrick & Struggles.

Board Committee Assignments Announced

Following its Annual Meeting on June 3, 2021, the Company announces the following Board roles and Committee assignments.

Chairman of the Board

John W. Gibson, Jr.

Lead Independent Director

David Nierenberg

Audit Committee

David Nierenberg, Chair

Harsha Agadi

Lisa Mayr

Compensation Committee

Harsha Agadi, Chair

Ted Brown

Michael Fucci

Paul Hobby

Corporate Governance & Nominating Committee

Paul Hobby, Chair

Ted Brown

Lisa Mayr

David Nierenberg

Risk & Sustainability Committee

Michael Fucci, Chair

Harsha Agadi

John W. Gibson, Jr.

Paul Hobby

David Nierenberg

About Flotek

Flotek Industries, Inc. creates solutions to reduce the environmental impact of energy on air, water, land and people. A technology-driven, specialty chemistry and data company, Flotek helps customers across industrial, commercial and consumer markets improve their Environmental, Social and Governance performance. Flotek’s Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use. Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its real-time data platforms and green chemistry technologies. Flotek serves downstream, midstream and upstream customers, both domestic and international. Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit Flotek’s web site at www.flotekind.com.

Forward-Looking Statements

Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.’s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Further information about the risks and uncertainties that may impact the Company are set forth in the Company’s most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the “Risk Factors” section thereof), and in the Company’s other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.

Contact:

Danielle Allen

Senior Vice President, Chief of Staff

E: [email protected]

P: (713) 726-5322

Release – PDS Biotech Announces Release of Interim Data for PDS0101 in NCI-Led Phase 2 Clinical Study

Posted on June 8, 2021 by Admin

PDS Biotech Announces Release of Interim Data for PDS0101 in NCI-Led Phase 2 Clinical Study in Oral Presentation at ASCO 2021 Annual Meeting

Tumor reduction was observed in 83% (5 of 6) of HPV16-positive relapsed or refractory checkpoint inhibitor naïve advanced cancer patients and 58% (7 of 12) of HPV16-positive relapsed or refractory advanced cancer patients who have also failed checkpoint inhibitor therapy

FLORHAM PARK, N.J., June 08, 2021 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing novel cancer therapies based on the Company’s proprietary Versamune^® T-cell activating technology, today announced the presentation of interim data from the Phase 2 trial led by the National Cancer Institute (NCI), of the National Institutes of Health (NIH), at the American Society of Clinical Oncology (ASCO) 2021 Annual Meeting.

The Phase 2 trial (NCT04287868) studies PDS0101 (Versamune^®-HPV16) in combination with two investigational immune-modulating agents: bintrafusp alfa (M7824), a bifunctional “trap” fusion protein targeting TGF-? and PD-L1, and NHS-IL12 (M9241), a tumor-targeting immunocytokine. PDS0101 is an immunotherapy candidate designed to treat cancers caused by infection with HPV16 (HPV16-positive cancers) by activating the immune system to produce in vivo CD8+ (killer) T-cells to target and kill tumors that are HPV16-positive. Analyses of immune responses and other immune correlates are ongoing.

Highlights from the presentation include the following:

Data from a total of 25 patients with data available as of the time of presentation submission:
- Update on the data previously reported for the original fourteen (14) HPV16-positive patients who were in the subject of the abstract published on May 19^th.
- An additional seven (7) HPV16-negative patients (patients whose cancer was NOT caused by HPV16 infection) who were not discussed in the abstract.
- An additional four (4) HPV16-positive patients who are checkpoint inhibitor refractory whose data became available after the abstract submission.
100% (25/25) of patients enrolled had failed chemotherapy treatment.
96% (24/25) of patients enrolled had failed both chemotherapy and radiation treatment.
56% (14/25) of patients enrolled had failed checkpoint inhibitor therapy (checkpoint inhibitor refractory).
Most types of HPV-related cancers (anal, cervical, head and neck, vaginal and vulvar cancers) were represented among the study subjects.

The following update was provided on the initial six (6) HPV16-positive patients who had NOT been treated with checkpoint inhibitors (checkpoint inhibitor naïve):
- 83% (5/6) of the patients demonstrated an objective response (tumor reduction >30%). The reported objective response rate with current standard of care checkpoint inhibitor treatment is 12-24%.
- 100% (6/6) are still alive at 8 months – the historic average (median) survival or life span for this patient population is 7-11 months.
- 80% (4/5) of patients who had an objective response still have an ongoing response at 8 months.
- One (1) patient had a complete response (no evidence of disease).
- No new patients had been added to this group by the time of submission.

The following information was provided on the twelve (12) HPV16-positive patients who have also failed treatment with checkpoint inhibitors after failing chemotherapy and radiation treatment (checkpoint inhibitor refractory):
- Four patients had recently been added since the abstract. Tumor reduction was observed in 58% (7/12), with an overall objective response rate of 42% (5/12) already achieved; the objective response rate of the current standard of care is 5-12%
- One patient in this group had achieved a complete response by the time of reporting
- 80% (4/5) of patients who had an objective response have an ongoing response at 8 months
- 83% (10/12) of patients are still alive at 8 months; historic average (median) survival or life span for this patient population is only 3-4 months

PDS0101 is designed to treat patients whose cancer is caused by infection with HPV16. Seven (7) patients had cancer that was not caused by HPV16 (HPV16-negative patients). In this group
- 0% (0/7) experienced tumor reduction.
- 80% (4/5) checkpoint inhibitor naïve patients are still alive at 8 months.
- 0% (0/2) checkpoint inhibitor refractory patients are still alive at 8 months.

The NCI Center for Cancer Research’s Laboratory of Tumor Immunology and Biology (LTIB) and Genitourinary Malignancies Branch (GMB) are jointly leading this Phase 2 trial. Bintrafusp alfa is being jointly developed by Merck KGaA, Darmstadt, Germany, and GlaxoSmithKline; NHS-IL12 is being developed by Merck KGaA, Darmstadt, Germany.

The trial is evaluating the treatment combination in both checkpoint inhibitor naïve and refractory patients with advanced HPV-associated cancers that have progressed or returned after treatment. The vast majority of these cancers are caused by HPV16 infection. Objective response is measured by radiographic tumor responses according to RECIST 1.1. These reported data provide additional insights following the preclinical studies published by the NCI examining the potentially complementary mechanisms of action of the three immunotherapies, understood to involve potent in-vivo HPV16-specific killer and helper T-cell induction with effective T-cell tumor infiltration (PDS0101), blocking of immune checkpoints as well as targeting of TGF-? (Bintrafusp alfa). The preclinical results suggested superior tumor regression.

“The achievement of a 67% tumor reduction among all HPV16-positive cancer patients including both CPI naïve and CPI refractory patients continues to strengthen the evidence supporting continuing clinical investigation of novel Versamune^® platform’s potential ability to induce high levels of tumor-specific CD8+ killer T-cells that attack the cancer in which we believe results in a strong synergy with bintrafusp alfa and NHS-IL12. The data provide early evidence of notable clinical activity, and we saw effective tumor regression in these patients,” commented Dr. Lauren Wood, Chief Medical Officer of PDS Biotech. “The interim data demonstrating that this response was limited only to patients with HVP16-positive cancer, and also the fact that all responding patients who have stayed on treatment continue to show ongoing responses after a median duration of 8 months solidifies our belief that PDS0101’s ability to generate a robust, targeted T-cell response may have the potential to significantly improve clinical outcomes for patients with advanced, refractory HPV16-associated cancers who have limited treatment options.”

There are more than 630,000 cases of HPV-associated malignancies including cervical, oropharyngeal and anal cancer worldwide annually. HPV-16 is responsible for most of these cases. About 15-20% of HPV-associated malignancies respond to PD-(L)1 inhibitors. However, for the overwhelming majority of patients who progress on these immunotherapies there is no effective standard of care therapy.

The company is hosting a conference call today at 8:00 am ET to discuss the data presented at ASCO. Registration for the conference call is now open and a live webcast of the event will be available online in the investor relations section of the company’s website at https://pdsbiotech.com/investors/news-center/events. A replay will be available on the company website for 90 days following the webcast.

For patients interested in enrolling in this clinical study, please call NCI’s toll-free number 1-800-4-Cancer (1-800-422-6237) (TTY: 1-800-332-8615), email [email protected], and/or visit the website: https://trials.cancer.gov.

About PDS Biotechnology

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of cancer immunotherapies and infectious disease vaccines based on the Company’s proprietary Versamune^® T-cell activating technology platform. Our Versamune^®-based products may overcome the limitations of current immunotherapy by inducing in vivo, large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple investigational therapies, based on combinations of Versamune^® and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them. Our immuno-oncology product candidates are initially being studied in combination therapy to potentially enhance efficacy without compounding toxicity across a range of cancer types. The company’s lead investigational cancer immunotherapy product PDS0101 is currently in Phase 2 clinical studies in HPV-associated cancers. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

About PDS0101

PDS Biotech’s lead candidate, PDS0101, combines the utility of the Versamune^® platform with targeted antigens in HPV-expressing cancers. In partnership with Merck & Co., PDS Biotech is evaluating a combination of PDS0101 and KEYTRUDA® in a Phase 2 study in first-line treatment of recurrent or metastatic head and neck cancer. PDS Biotech is also conducting two additional Phase 2 studies in advanced HPV-associated cancers and advanced localized cervical cancer with the NCI and The University of Texas MD Anderson Cancer Center, respectively. The current product targets HPV16-positive cancers, and upon successful proof of concept will be broadened to address cancers caused by other oncogenic HPV-types.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the “Company”) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “forecast,” “guidance”, “outlook” and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company’s ability to protect its intellectual property rights; the Company’s anticipated capital requirements, including the Company’s anticipated cash runway and the Company’s current expectations regarding its plans for future equity financings; the Company’s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company’s operations or require the Company to relinquish rights to the Company’s technologies or product candidates; the Company’s limited operating history in the Company’s current line of business, which makes it difficult to evaluate the Company’s prospects, the Company’s business plan or the likelihood of the Company’s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for PDS0101, PDS0203 and other Versamune^®based products; the future success of such trials; the successful implementation of the Company’s research and development programs and collaborations, including any collaboration studies concerning PDS0101, PDS0203 and other Versamune^®based products and the Company’s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company’s product candidates; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including our ability to fully fund our disclosed clinical trials, which assumes no material changes to our currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim results, which are not necessarily indicative of the final results of the Company’s ongoing clinical trials; any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs and any collaboration studies; the acceptance by the market of the Company’s product candidates, if approved; the timing of and the Company’s ability to obtain and maintain U.S. Food and Drug Administration or other regulatory authority approval of, or other action with respect to, the Company’s product candidates; and other factors, including legislative, regulatory, political and economic developments not within the Company’s control, including unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s annual and periodic reports filed with the SEC. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company 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.

Media & Investor Relations Contact:

Deanne Randolph
PDS Biotech
Phone: +1 (908) 517-3613
Email: [email protected]

Rich Cockrell
CG Capital
Phone: +1 (404) 736-3838
Email: [email protected]

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