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Forum Energy Technologies, Inc. (NYSE: FET) today announced first quarter 2021 revenue of $115 million, an increase of $2 million from the fourth quarter 2020. Net loss for the quarter was $30 million, or $5.28 per diluted share, compared to a net loss of $33 million, or $5.85 per diluted share, for the fourth quarter 2020. Excluding $8 million, or $1.33 per share of special items, adjusted net loss was $3.95 per diluted share in the first quarter 2021, compared to an adjusted net loss of $4.80 per diluted share in the fourth quarter 2020. Adjusted EBITDA was $2 million in the first quarter 2021, an improvement of approximately $5 million from the fourth quarter 2020.
Iron Mountain Incorporated (NYSE: IRM), the global leader in innovative storage and information management services, today announced bold, forward-looking corporate responsibility (CR) goals under the long-term strategy of Securing a Sustainable Future as part of its eighth annual CR Report. Securing a Sustainable Future is guided by four defining pillars, Safeguarding Customer Trust, Empowering our People, Protecting our Planet and Strengthening our Communities, through which the company creates innovative solutions in socially responsible ways.
Australian government to start repatriating citizens stuck in India as soon as flight ban endsFlights are expected to resume next weekend with returning travellers to quarantine at Howard Springs The Howard Springs quarantine facility in Darwin. Scott Morrison is expected on Friday to announce details of a plan to start repatriating Australians stuck in India. Photograph: Glenn Campbell/EPA
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Police found Ehlinger's body near UT's campus on Thursday.
Twitter Inc suspended several accounts this week that were set up to share statements from a new part of former U.S. President Donald Trump's website, saying they broke its rules against evading an account ban. Trump was banned from Twitter, where he had more than 88 million followers, and multiple other social media platforms following the deadly Jan. 6 siege of the U.S. Capitol by his supporters. On Tuesday, a page was added to Trump's site, dubbed "From the Desk of Donald J. Trump," where he posts messages that can be shared by his audience to both Twitter and Facebook.
Last week’s 6-2 victory at Old Trafford meant United already had one foot in the Gdansk finale.
The Spanish club will face Manchester United in the final.
SHAREHOLDER ACTION ALERT: The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against ChemoCentryx, Inc.
(Bloomberg) -- A rising appetite for risk across a variety of asset markets is stretching valuations and creating vulnerabilities in the U.S. financial system, the Federal Reserve said in its semi-annual financial stability report.“Vulnerabilities associated with elevated risk appetite are rising,” Fed Governor Lael Brainard, the head of the Board’s financial stability committee, said in a statement accompanying the report released Thursday. “The combination of stretched valuations with very high levels of corporate indebtedness bear watching because of the potential to amplify the effects of a re-pricing event.”In this environment, prices may be vulnerable to “significant declines” should risk appetite fall, the Fed report noted.Brainard and the report mentioned losses at banks stemming from dealings with Archegos Capital Management, and the governor called for “more granular, higher-frequency disclosures.”“The Archegos event illustrates the limited visibility into hedge-fund exposures and serves as a reminder that available measures of hedge-fund leverage may not be capturing important risks,” she said.Near-zero interest rates and massive bond purchases, with the Fed buying $40 billion in mortgage-backed securities and $80 billion in Treasuries every month, have fueled a search for returns and helped buoy asset prices including those of risky investments such as speculative stocks, cryptocurrencies and high-yield debt. The Standard and Poor’s 500 stock index has risen 12% this year.“The real story here is the tension -- if not the glaring contradiction -- of the Fed’s pursuit of quantitative easing, the aim of which is to lower long-term rates and encourage reach for yield, and their concern that people are indeed reaching for yield,” said George Selgin, a senior fellow at the Cato Institute in Washington, referring to the bond buying. “The Fed could certainly taper its QE activities to counter this risk-taking as the recovery continues.”Spacs, Meme Stocks“Indicators pointing to elevated risk appetite in equity markets in early 2021 include the episodes of high trading volumes and price volatility for so-called meme stocks -- stocks that increased in trading volume after going viral on social media,” the report said. “Elevated equity issuance through SPACs also suggests a higher-than-typical appetite for risk among equity investors.”Low rates are also impacting the real economy. Home prices are up 12% year over year amid high demand for property and scarce supply, while a boom in home remodeling has helped push lumber futures to record highs. The Bloomberg Commodity Index, which tracks everything from grains to natural gas and nickel, is up 19%.The report said house-price increases have had a positive effect for borrowers by boosting equity. Still, it noted that borrowers in forbearance programs, who are likely to be employed in industries hard hit by the pandemic, could be vulnerable when they exit. “Even so, a large fraction of borrowers have already exited forbearance -- in general, these borrowers have loans that are either current or paid off,” the report said.The report also noted that low interest rates have reduced default expectations, and underwriting standards have weakened. “The share of newly issued loans to large corporations with high leverage -- defined as those with ratios of debt to earnings before interest, taxes, depreciation, and amortization greater than 6 -- has exceeded the historical highs reached in recent years,” it said.Hedge Fund LeverageThe report said that “available data suggest” that hedge funds are highly leveraged, and said there is a need for greater transparency on opaque risk exposures, echoing Brainard’s call for more transparency.“Some hedge funds with substantial short positions sustained losses during the meme stock episode in January 2021, when intense social media activity contributed to fluctuations in the prices of some specific stocks,” the report said, probably a reference to the short squeeze in shares of GameStop Corp., which soared to more than $300 a share from around $20 a share in a matter of days.Jon Caplis, chief executive officer at hedge fund consultant PivotalPath, said after the report’s release that one disclosure in particular could mitigate the risk of a future Archegos-like situation happening again.“Before you try and rewrite all the regulatory statutes, you can make one small change that would be effective,” he said. “If you merely treat total-return swaps in the same way hedge funds are already disclosing equity holdings, you would drastically mitigate an Archegos-like fallout from happening again.”(Updates with reaction in final two paragraphs.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
DREAM OFFICE REAL ESTATE INVESTMENT TRUST (D.UN-TSX) or ("Dream Office REIT", the "Trust" or "we") today announced its financial results for the three months ended March 31, 2021 and provided a business update related to the COVID-19 pandemic.
The Law Offices of Frank R. Cruz Announces Investigation of ChemoCentryx, Inc. (CCXI) on Behalf of Investors
EXCLUSIVE: Mike Merrill (All American, American Soul) has signed with Pantheon Talent for representation in all areas. The actor, who plays the young, hungry talent director Christian Mosley on The CW’s All American is also currently filming a BET feature, which is scheduled for release later in the year. He also recently signed a partnership deal […]
Jessie Bekkedahl makes video lessons about words, shapes, and letters with her dog "Professor Ginger" for her kindergarten students in Riverside, California
In a partnership with GLAAD ahead of Mother's Day, the It's Always Sunny in Philadelphia star's moms talk about their love story and their family's acceptance
Jefferson Security Bank (OTC Pink: JFWV) reported net income of $782 thousand for the quarter ended March 31, 2021, representing an increase of $162 thousand, or 26.1% when compared to net income of $620 thousand for the quarter ended March 31, 2020. Diluted earnings per share was $2.81 for the first quarter of 2021, compared to $2.22 for the first quarter of 2020. Annualized return on average assets and average equity for March 31, 2021 increased to 0.81% and 10.16%, respectively, compared to 0.77% and 8.74%, respectively, for March 31, 2020.
Italy’s David di Donatello Awards historically have been dominated by men in the key best picture, film, and producer categories. And this year is no exception. All told, out of a total of 145 movies vying for the top Italian film prizes 17 are directed by women, which amounts to a mere 12%. Women account […]
Clinical data update on zenocutuzumab selected for oral presentation at ASCO MCLA-145 clinical update planned for 2H21 MCLA-129 first patient dosed in phase 1/2 trial Cecile Geuijen, Ph.D., promoted to Chief Scientific Officer UTRECHT, The Netherlands and CAMBRIDGE, Mass., May 06, 2021 (GLOBE NEWSWIRE) -- Merus N.V. (Nasdaq: MRUS) (“Merus”, the “Company,” “we”, or “our”), a clinical-stage oncology company developing innovative, full-length multispecific antibodies (Biclonics® and Triclonics®), today announced financial results for the first quarter that ended March 31, 2021, and provided a business update. “We have made significant progress on our clinical programs this quarter and we are excited to provide a clinical data update on Zeno in an oral presentation at ASCO in June, and on MCLA-145 later this year,” said Bill Lundberg, M.D., President, Chief Executive Officer of Merus. “In addition we continue to validate our multispecific platforms with our recent value-generating deal with Loxo Oncology at Lilly, progress with our Incyte collaboration and further development of our own pipeline, including the start of clinical development for MCLA-129.” Clinical Programs Zenocutuzumab (Zeno or MCLA-128: HER3 x HER2 Biclonics®) Oral presentation at the 2021 American Society of Clinical Oncology (ASCO) Annual MeetingTitle: Efficacy and safety of zenocutuzumab in advanced pancreas cancer and other solid tumors harboring NRG1 fusionsAbstract #: 3003Session Title: Developmental Therapeutics—Molecularly Targeted Agents and Tumor BiologySession Date and Time: June 4, 2021, 11:00 AM-2:00 PM EDT We plan to present interim efficacy and safety data from the eNRGy trial and Early Access Program (EAP) of Zeno in patients with NRG1 fusion positive (NRG1+) pancreatic, non-small cell lung and other cancers. Zeno is currently in the phase 1/2 eNRGy trial to assess the safety and anti-tumor activity of Zeno monotherapy in NRG1+ cancers. We continue to be encouraged by the ongoing trial, observed clinical activity and safety profile and look forward to sharing an interim clinical data update at ASCO on June 4. In the first quarter of 2021, we opened additional clinical trial sites, which are now at more than 35 locations, and we entered into more agreements and collaborations with companies and medical organizations with the goals of raising awareness of the eNRGy trial and providing access to molecular screening opportunities for eligible patients with cancers that may have NRG1 fusions. Merus is now working with more than ten different industry and academic collaborations across Asia, North America and Europe aimed to enhance testing for NRG1 fusions and to raise awareness of the eNRGy trial. Details of the eNRGy trial can be found at www.ClinicalTrials.gov and Merus’ trial website at www.nrg1.com, or by calling 1-833-NRG-1234. At the American Association for Cancer Research 2021 Annual Meeting we presented two posters on the mechanism of action of Zeno. Both posters present preclinical data demonstrating that the Dock & Block® activity of Zeno can potently inhibit NRG1 (and NRG1 fusion) signaling through HER3:HER2 and tumorigenesis. In addition, a dose dependent inhibition of tumor growth was observed in NRG1 fusion lung and ovarian cancers in a mouse model. Both posters can be found on our website. MCLA-158 (Lgr5 x EGFR Biclonics®): Solid Tumors Phase 1 trial continues with dose expansion cohorts Phase 1 clinical trial of MCLA-158 is ongoing in the dose expansion phase of the open-label, multicenter trial. Enrollment of patients with gastro-esophageal and head-and-neck cancers continues and preliminary evidence of antitumor activity has been observed. MCLA-145 (CD137 x PD-L1 Biclonics®): Solid Tumors Phase 1 trial clinical data will be presented 2H21 The phase 1, open-label, single-agent clinical trial of MCLA-145 is ongoing and consists of dose escalation followed by dose expansion. MCLA-145 is the first drug candidate co-developed under Merus’ global collaboration and license agreement with Incyte Corporation, which permits the development and commercialization of up to 11 bispecific and monospecific antibodies from the Biclonics® platform. Merus has full rights to develop and commercialize MCLA-145 if approved in the United States and Incyte is responsible for its development and commercialization outside the United States. MCLA-129 (EGFR x c-MET Biclonics®): Solid Tumors First patient dosed in the phase 1/2 trial Enrollment is on-going in the phase 1/2 dose escalation and expansion trial evaluating MCLA-129 for the treatment of patients with advanced non-small cell lung cancer (NSCLC) and other solid tumors. MCLA-129 is a Biclonics®, which binds to EGFR and c-MET and is being investigated for the treatment of solid tumors. EGFR is an important oncogenic driver in many cancers, and upregulation of c-MET signaling has been associated with resistance to EGFR inhibition. At the American Association for Cancer Research 2021 Annual Meeting, we presented data that demonstrate in preclinical models MCLA-129 blocks EGF and HGF binding to their respective receptors EGFR and c-MET and MCLA-129’s enhanced Fc is capable of potent promotion of antibody-dependent cellular cytotoxicity and antibody-dependent cellular phagocytosis. The data also show MCLA-129 potently inhibits NSCLC tumor growth as monotherapy and in combination with an EGFR TKI and overcomes HGF-mediated EGFR-TKI resistance in preclinical models. The poster can be found on our website. Corporate Activities In May, Merus promoted Cecile Geuijen, Ph.D, to Chief Scientific Officer. Cecile joined Merus twelve years ago as Senior Scientist. Dr. Geuijen has over two decades of experience in discovering and developing antibodies as medicines for clinical evaluation. “We are delighted to have Cecile join our Management Team as CSO,” said Bill Lundberg, M.D. CEO of Merus. “She is an outstanding scientist and leader, having a pivotal role in the discovery, design and development of each of Merus’ current clinical-stage assets and many of our preclinical programs.” Before joining Merus, Cecile worked on the identification of new therapeutic targets in oncology at Crucell and evaluated new therapeutic targets in oncology at Genmab. She holds a Ph.D. in Biology from the University of Utrecht, was a Marie Curie Fellow at the Duve Institute in Brussels and completed Post-Doctoral studies in cancer biology at the Dutch NKI. Expanding Collaborations In January 2021 Merus and Loxo Oncology at Lilly, a research and development group of Eli Lilly and Company (Lilly) announced a research collaboration and exclusive license agreement that will leverage Merus' proprietary Biclonics® platform along with the scientific and rational drug design expertise of Loxo Oncology at Lilly to research and develop up to three CD3-engaging T-cell re-directing bispecific antibody therapies. Merus received an upfront cash payment of $40 million, as well as an equity investment by Lilly of $20 million in Merus common shares. Merus is also eligible to receive up to $540 million in potential development and commercialization milestones per product, for a total of up to approximately $1.6 billion for three products, as well as tiered royalties ranging from the mid-single to low-double digits on product sales should Lilly successfully commercialize a therapy from the collaboration. Under the terms of the agreement, Merus will lead the discovery and early-stage research and Loxo Oncology at Lilly will be responsible for subsequent research, development and commercialization activities. Cash Runway extended, Merus expects to be funded to at least 2H 2024 through its second follow-on offering and Lilly upfront cash payment and equity investment On January 21, 2021, Merus successfully priced its second follow-on offering since its 2016 IPO, raising a total of approximately $129.4 million in net proceeds. Based on the Company’s current operating plan, we expect our existing cash, cash equivalents and marketable securities inclusive of the proceeds of $60.0 million from the collaboration with and equity investment by Lilly in January 2021 and aggregate net proceeds from the January follow-on offering will fund Merus’ operations at least into the second half of 2024. Annual General Meeting and Board of Directors The Company’s annual general meeting of shareholders (AGM) is planned to be held on May 28, 2021. First Quarter 2021 Financial Results We ended the first quarter with cash, cash equivalents and marketable securities of $374.4 million compared to $207.8 million at December 31, 2020. The increase was primarily the result of net proceeds from our follow-on offering and proceeds from the collaboration with and equity investment by Lilly, net of cash used in operations and other items. Collaboration revenue for the three months ended March 31, 2021 increased by $2 million as compared to the three months ended March 31, 2020, primarily as a result of an increase from a Lilly upfront payment amortization and reimbursement revenues of $1.4 million that commenced in the first quarter, and $0.8 million increases related to Incyte reflecting activities in the period for MCLA-145. The change in exchange rates did not significantly impact collaboration revenue. Research and development expense for the three months ended March 31, 2021 increased by $3.8 million as compared to the three months ended March 31, 2020, primarily as a result of an increase in external and manufacturing costs related to our programs and stock-based compensation. General and administrative expense for the three months ended March 31, 2021 increased by $0.4 million as compared to the three months ended March 31, 2020, which is not a significant change and no significant offsetting items in the period. Other income, net for the three months ended March 31, 2021 was $11.7 million as compared to $3.2 million for the three months ended March 31, 2020. Other income, net consists of interest earned on the Company’s cash and cash equivalents held on account, accretion of investment earnings and net foreign exchange gains on the Company’s foreign denominated cash, cash equivalents and marketable securities. MERUS N.V. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Amounts in thousands, except per share data) March 31,2021 December 31,2020 ASSETS Current assets: Cash and cash equivalents$327,137 $163,082 Marketable securities 47,248 44,673 Accounts receivable 294 46 Accounts receivable (related party) 1,631 1,623 Prepaid expenses and other current assets 9,814 8,569 Total current assets 386,124 217,993 Property and equipment, net 3,766 4,115 Operating lease right-of-use assets 3,501 3,907 Intangible assets, net 2,645 2,843 Deferred tax assets 41 410 Other assets 1,872 1,949 Total assets$397,949 $231,217 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$3,715 $3,126 Accrued expenses and other liabilities 22,356 21,803 Income taxes payable — 206 Current portion of lease obligation 1,130 1,432 Current portion of deferred revenue 7,070 625 Current portion of deferred revenue (related party) 18,684 19,554 Total current liabilities 52,955 46,746 Lease obligation 2,397 2,521 Deferred revenue, net of current portion 34,752 237 Deferred revenue, net of current portion (related party) 71,308 79,450 Total liabilities 161,412 128,954 Stockholders’ equity: Common shares, €0.09 par value; 45,000,000 shares authorized;38,271,641 and 31,602,953 shares issued and outstanding as atMarch 31, 2021 and December 31, 2020, respectively$3,940 $3,211 Additional paid-in capital 643,183 490,093 Accumulated other comprehensive income (320) 9,071 Accumulated deficit (410,266) (400,112)Total stockholders’ equity 236,537 102,263 Total liabilities and stockholders’ equity$397,949 $231,217 MERUS N.V.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(UNAUDITED)(Amounts in thousands, except per share data) Three Months EndedMarch 31, 2021 2020 Collaboration revenue$1,599 $328 Collaboration revenue (related party) 6,751 5,973 Total revenue 8,350 6,301 Operating expenses: Research and development 20,806 16,987 General and administrative 9,333 8,882 Total operating expenses 30,139 25,869 Operating loss (21,789) (19,568)Other income, net: Interest (expense) income, net (82) 280 Foreign exchange gains 12,203 2,885 Other losses (437) — Total other income, net 11,684 3,165 Net loss before income taxes (10,105) (16,403)Income tax expense 49 97 Net loss$(10,154) $(16,500)Other comprehensive loss: Currency translation adjustment (9,391) (3,107)Comprehensive loss$(19,545) $(19,607)Net loss per share attributable to common stockholders: Basic and diluted$(0.28) $(0.68)Weighted-average common shares outstanding: Basic and diluted 36,210 28,946 About Merus N.V.Merus is a clinical-stage oncology company developing innovative full-length human bispecific and trispecific antibody therapeutics, referred to as Multiclonics®. Multiclonics® are manufactured using industry standard processes and have been observed in preclinical and clinical studies to have several of the same features of conventional human monoclonal antibodies, such as long half-life and low immunogenicity. For additional information, please visit Merus’ website, www.merus.nl and https://twitter.com/MerusNV. Forward Looking Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation, statements regarding the sufficiency of our cash, cash equivalents and marketable securities; the content and timing of potential milestones, updates, guidance, information, clinical trials and data readouts for our product candidates, including with respect to the phase 1/2 eNRGy trial, EAP and planned presentation at ASCO in June 2021, the advancement of the Phase 1 trial of MCLA-145, and plan to present a clinical update at a major medical conference in 2H 2021, the advancement of the phase 1 trial for MCLA-158, and the advancement of the phase 1/2 trial for MCLA-129; the design and treatment potential of our bispecific antibody candidates, clinical study designs, the preclinical data and further advancement of our internal pipeline; our belief of the promise of and potential benefit of our clinical assets; the impact and benefit, if any, from increased clinical trial site opening, and agreements and collaborations with companies and medical organizations in North America, Europe and Asia with the goal of raising awareness of the eNRGy trial and providing molecular screening opportunities for eligible patients with cancers that may have NRG1 fusions; the continued enrollment of patients with gastro-esophageal and head-and-neck cancer in the MCLA-158 trial in the dose expansion phase, and preliminary evidence of antitumor activity observed; the benefits of a collaboration between Loxo Oncology at Lilly and Merus, its potential for future value generation, including whether and when Merus will receive any future payment under the collaboration, including milestones or royalties, and the amounts of such payments; whether any programs under the collaboration will be successful; Merus’ and Lilly’s activities under the agreement; and our global collaboration and license agreement with Incyte, its progress and potential development and commercialization of up to 11 bispecific and monospecific antibodies from our Biclonics® platform. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our need for additional funding, which may not be available and which may require us to restrict our operations or require us to relinquish rights to our technologies or antibody candidates; potential delays in regulatory approval, which would impact our ability to commercialize our product candidates and affect our ability to generate revenue; the lengthy and expensive process of clinical drug development, which has an uncertain outcome; the unpredictable nature of our early stage development efforts for marketable drugs; potential delays in enrollment of patients, which could affect the receipt of necessary regulatory approvals; our reliance on third parties to conduct our clinical trials and the potential for those third parties to not perform satisfactorily; impacts of the COVID-19 pandemic; we may not identify suitable Biclonics® or bispecific antibody candidates under our collaborations or our collaborators may fail to perform adequately under our collaborations; our reliance on third parties to manufacture our product candidates, which may delay, prevent or impair our development and commercialization efforts; protection of our proprietary technology; our patents may be found invalid, unenforceable, circumvented by competitors and our patent applications may be found not to comply with the rules and regulations of patentability; we may fail to prevail in potential lawsuits for infringement of third-party intellectual property; and our registered or unregistered trademarks or trade names may be challenged, infringed, circumvented or declared generic or determined to be infringing on other marks. These and other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the period ended December 31, 2020 filed with the Securities and Exchange Commission, or SEC, on March 16 2021, and our other reports filed with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change, except as required under applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. CONTACT: Investor and Media Inquiries: Kathleen Farren Merus N.V. Communications Specialist 617-230-4165 firstname.lastname@example.org
Polling stations have closed on an election day that could have profound implications for the future of the United Kingdom and the Labour Party. The future of the Labour Party and the state of the Union are two of the main issues at play. In Scotland, Nicola Sturgeon's SNP is hoping for an overall majority, which she said she will see as a mandate to hold a second independence referendum, which risks splitting up the United Kingdom.
JMP Director Ron Josey joins Yahoo Finance to discuss the state of Peloton after the company had to recall its treadmill.