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Budget 2021:

Targeted tax rises won't derail COVID recovery, chancellor told

Corporation tax, capital gains tax, wealth tax, and land value tax rises would make a 'negligible impact' on GDP growth

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Latest stories

  • Secretary of State Antony Blinken delivers remarks

    Secretary of State Antony Blinken delivers remarks from the State Department in Washington, D.C.

  • This One Tool Takes My Baking to New Heights—and It’s Only $5

    Professional bakers swear by it.

  • Workhorse Records Worst-Ever Weekly Rout After Postal Defeat

    (Bloomberg) -- Workhorse Group Inc. recorded the biggest weekly decline ever as investors brace for the electric vehicle startup’s quarterly earnings results due for release on Monday.The focus is likely to be more on the company’s recent loss of a key contract with the U.S. Postal Service rather than its financials. The shares sank 52% in two days this week after the USPS said Oshkosh Corp., not Workhorse, would get a contract to build new vehicles for mail carriers. They rebounded 25% on Thursday after a congressman said he was trying to reverse the decision, only to resume the drop on Friday. The stock lost 51% of its value this week. Volatility has been the norm for Workhorse. The shares saw major ups and downs on their way to a 3,646% rally in 2019 and 2020 combined, riding a wave of investor enthusiasm for all things related to electric cars and clean transportation. Tesla Inc.’s surge toward a market value now exceeding $650 billion prompted a scramble for the next cult stock in the industry.Workhorse fit the bill, despite boasting only scant revenue. Holding onto those investors may get more difficult if the growth narrative is perceived to be faltering, as shown by the exodus this week following the USPS news.“The conversation around the contest, whether Workhorse was selected as the supplier months back, and how similar the Oshkosh truck looks to the Workhorse solution will all dominate now,” Roth Capital Partners analyst Craig Irwin said.Given the USPS situation, analysts will hone in on other potential revenue sources for the Loveland, Ohio-based company.“We will be looking at potential orders from new and existing customers that will increase Workhorse’s backlog,” RF Lafferty analyst Jaime Perez said in a phone interview. “The other key question is their cash burn rate.”Analysts on average expect a fourth-quarter adjusted loss of 14 cents a share, on revenue of $1.2 million, according to data compiled by Bloomberg.“As far as fourth quarter is concerned, I don’t expect big numbers, and they will probably have tepid results,” Irwin said.(Updates with stock close in second paragraph.)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.

  • Roma shelve plans for long-delayed stadium project

    Serie A club AS Roma have cancelled plans to build a new stadium in the south of the Italian capital, saying the much delayed project was no longer economically viable. Roma first unveiled plans for a 55,000-capacity stadium in the Tor di Valle area almost seven years ago, but it was dogged by political and bureaucratic problems. "They also noted that the COVID-19 pandemic has radically changed the international economic scenario, including the financial prospects of the stadium project.”

  • Colombia's apiarists say avocado buzz is killing bees

    For the second time in two years, Gildardo Urrego is scooping up piles of dead bees after an invisible evil invaded his hives in northwest Colombia, wreaking havoc among his swarms.

  • Rosario finds fit, family while joining Indians

    Once adversaries, Eddie Rosario and Indians manager Terry Francona are now allies. “I told him it is so nice not to hate you anymore,” Francona cracked. Smashing eye-level pitches out of the strike zone and ones just inches above his cleats, Rosario tormented the Indians while with the Twins.

  • Nexstar Inc. President of Broadcasting Timothy C. Busch to Retire in Mid-2021

    Nexstar Inc., a wholly owned subsidiary of Nexstar Media Group, Inc. (Nasdaq: NXST), announced today that President, Broadcasting, Timothy C. Busch, will retire June 1, 2021, following a 36-year career in the broadcast industry. Mr. Busch joined Nexstar in 2000 as General Manager at WROC (CBS) in Rochester, New York and over his career with Nexstar ascended to roles of increasing responsibility including Executive Vice President and Co-Chief Operating Officer and ultimately President of Nexstar Broadcasting, Inc., the predecessor to Nexstar Inc.

  • Service Properties Trust Announces Fourth Quarter 2020 Results

    Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended December 31, 2020.

  • GENFIT: Revenues and Cash Position as of December 31, 2020

    Cash and cash equivalents totaled €171 million as of December 31, 2020The announced cash position omits the partial buyback of the OCEANEs convertible bonds by GENFIT, for €47.48 million1, completed in January 2021 Lille, France; Cambridge, MA; February 26, 2021 - GENFIT (Nasdaq and Euronext: GNFT), a late-stage biopharmaceutical company dedicated to improving the lives of patients with metabolic and liver diseases, today announced its cash position as of December 31, 2020 and revenues for 20202. Financials As of December 31, 2020, the Company’s cash and cash equivalents amounted to €171.0 million compared with €276.7 million, as of December 31, 2019. As of June 30, 2020, cash and cash equivalents amounted to €225.7 million. The cash position as of December 31, 2020 omits the cost of the partial buyback by the Company for its convertible bonds (OCEANEs) issued in October 2017 and amounting to approximately €180 million. Following the completion of this transaction, €85.7 million of convertible debt was canceled by spending a gross amount of only €47.48 million. Given the conversions of bonds into shares in January 2021, which led to the creation of 3,037,309 new shares in February 2021, the residual convertible debt, initially reduced to a nominal amount of €94.3 million through the partial buyback transaction, was further reduced by a nominal amount of €16.3 million, with approximately €78 million outstanding as of February 18, 2021. Pascal Prigent, CEO of GENFIT, commented: “Since the announcement of our new corporate strategy in the Fall of 2020, GENFIT has achieved a significant amount and I’m satisfied with the early direction of 2021. ELATIVETM, our Phase 3 clinical trial in PBC, is on track, and we recently organized a KOL event on this disease, which highlighted the potential of elafibranor in this market already worth >$300M in 2020, and expected to reach $1bn in 2025, at the time we hope to launch. Next to this, we successfully restructured the convertible debt at the end of January 2021, with a maturity extended to October 2025. Some bondholders have since converted their OCEANEs, further reducing the outstanding debt to approximately €78 million. We will present advances on our R&D programs at the next corporate update, to take place before the summer.” Revenues 3 Revenues for 2020 amounted to €765 thousand compared to €31 million for 2019. Revenues included revenues from the licensing agreements with Covance/Labcorp to roll out the NIS4™ diagnostic technology in NASH and the sale of goods and services provided pursuant to the collaboration and license agreement with Terns Pharmaceuticals. As a comparison, revenues for 2019 mainly consisted of the $35 million upfront payment received from Terns Pharmaceuticals as part of the collaboration and license agreement. Reminder On September 30, 2020, GENFIT announced its plan to reduce its cash burn by 50% by 2022 compared to the cash burn before the publication of the RESOLVE-IT Phase 3 data readout. The Company reiterates its goal to reduce the cash burn rate from €110 million annually before our Phase 3 data, to approximately €45 million annually, beginning in 2022. 2021 will be a transition year with a cash burn of approximately €75 million (excluding the partial OCEANEs buyback transaction for €47.48 million in cash) mainly due to the residual expenses related to the termination of the RESOLVE-IT clinical trial, and to costs associated with the workforce reduction plan. Upcoming Financial Communications The Company will release its full-year 2020 financial results on April 1, 2021. The 2020 Universal Registration Document, the 2021 Annual Financial Report (included in the 2020 Universal Registration Document), and the Annual Report on Form 20-F will be published by the end of April 2021. ABOUT GENFIT GENFIT is a late-stage biopharmaceutical company dedicated to improving the lives of patients with cholestatic and metabolic chronic liver diseases. GENFIT is a pioneer in the field of nuclear receptor-based drug discovery, with a rich history and strong scientific heritage spanning more than two decades. GENFIT is currently enrolling in ELATIVE™, a Phase 3 clinical trial evaluating elafibranor in patients with Primary Biliary Cholangitis (PBC). Elafibranor is an investigational compound that has not been reviewed and has not received approval by any regulatory authority. As part of GENFIT’s comprehensive approach to clinical management of patients with liver disease, the Company is also developing NIS4™, a new, non-invasive blood-based diagnostic technology which could enable easier identification of patients with at-risk NASH. NIS4™ technology has been licensed to LabCorp® in the U.S. and Canada for the development and commercialization of a blood-based molecular diagnostic test powered by NIS4™ technology. GENFIT has facilities in Lille and Paris, France, and Cambridge, MA, USA. GENFIT is a publicly traded company listed on the Nasdaq Global Select Market and on compartment B of Euronext’s regulated market in Paris (Nasdaq and Euronext: GNFT). www.genfit.com FORWARD LOOKING STATEMENTS This press release contains certain forward-looking statements with respect to GENFIT, including those within the meaning of the Private Securities Litigation Reform Act of 1995, with respect to GENFIT, including statements regarding the Company’s ability to meet clinical, regulatory and commercial milestones and timelines in our PBC program, expectations for disease prevalence, growth and size of the PBC market, including GENFIT’s potential market share and revenues and projected cash burn. The use of certain words, including “consider”, “contemplate”, “think”, “aim”, “expect”, “understand”, “should”, “aspire”, “estimate”, “believe”, “wish”, “may”, “could”, “allow”, “seek”, “encourage” or “have confidence” or (as the case may be) the negative forms of such terms or any other variant of such terms or other terms similar to them in meaning is intended to identify forward-looking statements. Although the Company believes its projections are based on reasonable expectations and assumptions of the Company’s management, these forward-looking statements are subject to numerous known and unknown risks and uncertainties, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including in relation to safety, biomarkers, progression of, and results from, its ongoing and planned clinical trials, review and approvals by regulatory authorities of its drug and diagnostic candidates, exchange rate fluctuations and the Company’s continued ability to raise capital to fund its development, as well as those risks and uncertainties discussed or identified in the Company’s public filings with the AMF, including those listed in Chapter 2 “Main Risks and Uncertainties” of the Company’s 2019 Universal Registration Document filed with the AMF on 27 May 2020 under n° D.20-0503 and in Section 2 “Risk Factors” of the Company’s Amendment to the Universal Registration Document filed with the AMF on 22 December 2020 under n° D.20-0503-A01, which are available on the Company’s website (www.genfit.com) and on the website of the AMF (www.amf-france.org) and public filings and reports filed with the U.S. Securities and Exchange Commission (“SEC”) including the Company’s 2019 Annual Report on Form 20-F filed with the SEC on May 27, 2020. In addition, even if the Company’s results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. These forward-looking statements speak only as of the date of publication of this document. Other than as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise. CONTACT GENFIT | Investors Naomi EICHENBAUM – Investor Relations | Tel: +1 (617) 714 5252 | investors@genfit.com PRESS RELATIONS | Media Hélène LAVIN – Press relations | Tel: +333 2016 4000 | helene.lavin@genfit.com 1 Excluding transaction-related costs 2 Unaudited financial information under IFRS3 Revenues recognized under IFRS 15 GENFIT | 885 Avenue Eugène Avinée, 59120 Loos - FRANCE | +333 2016 4000 | www.genfit.com Attachment GENFIT: Revenues and Cash Position as of December 31, 2020

  • Cathie Wood’s Main ETF Rebounds After $4.9 Billion Asset Plunge

    (Bloomberg) -- Ark Investment Management’s miserable week showed signs of easing on Friday, with its flagship exchange-traded fund halting a four-day slide.The ARK Innovation ETF (ticker ARKK) closed higher, after swinging between gains and losses throughout the session. It still dropped 15% this week amid a technology selloff that was triggered by rising Treasury yields, putting pressure on high-flying stocks. One of those shares is electric-car maker Tesla Inc., which remains as the ETF’s biggest holding and has faced intense volatility.The last time Ark founder Cathie Wood suffered a weekly run this bad was almost a year ago, during the worst of the Covid-fueled mayhem. Her main fund is now 11 times larger than it was then. It got close to erasing its gains for 2021 this week after soaring as much as 26% since the end of December.Assets in the ETF have slumped by $4.9 billion this week to $23.3 billion, according to data compiled by Bloomberg. The figure doesn’t include flows from Thursday, when ARKK dropped 6.4% for its worst day in almost six months. Investors pulled about $200 million from the fund in Wednesday trading. That brings total weekly outflows to $638 million, on pace to be the worst on record.“Money that is ‘easy come’ tends to be money that is ‘easy go’,” said Ben Johnson, Morningstar’s global director of ETF research. “You’re going to see similar, if not potentially greater, market impact on the way down, especially given that this is an actively managed ETF and a fully transparent one. The market is hanging on their every move, they’re watching their every move.”Bearish bets against the ETF continue to grow, with short interest now accounting for more than 4% of available shares, according to data from IHS Markit Ltd.Michael Purves, chief executive officer at Tallbacken Capital Advisors, said in a note Thursday that his firm is taking profits on ARKK puts, but “will look to re-enter a second bearish trade on a bounce.”Ark Investment slipped to the eighth place among the largest exchange-traded fund issuers in the $5.9 trillion industry, after becoming the seventh biggest earlier this month. Total ETF assets for the company are now just shy of $53 billion, down from more than $60 billion at the prior peak.Wood’s $10.6 billion ARK Genomic Revolution ETF (ARKG) lost $154 million on Wednesday, for its third straight day of outflows. At the same time, traders pulled another $48 million from ARK Next Generation Internet ETF (ARKW).“If one were still in agreement with Ark on their long-term investment thesis, a meaningful market correction might provide an opportunity to participate more,” Linda Zhang, founder of Purview Investments.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.

  • Algeria pro-democracy marchers try to revive Friday protests

    Protesters took to the streets of Algiers and other cities around Algeria Friday in a bid to restart weekly pro-democracy demonstrations. Hirak protesters helped force long-time President Abdelaziz Bouteflika from power in 2019. Activists are pressing for a full makeover of the opaque system governing Algeria, with the military in the shadows.

  • Power Retailers Want to Roll Back $9,000 Price Cap: Texas Update

    (Bloomberg) -- A second day of marathon hearings on Texas’s unprecedented energy crisis raised concerns about the liquidity of the state’s power market, and who will ultimately pay for the disaster as some companies face bankruptcy.Several utilities told Texas lawmakers Friday that they were still awaiting payment from the grid operator, known as Ercot, for power they provided during the grid emergency, with at least one worrying whether they would be paid at all. Ercot, meanwhile, is working to manage ongoing financial stress in the market, with some retail electricity providers having already defaulted. The head of a trade group representing those companies called for retroactively adjusting the $9,000 price of electricity after Ercot stopped cutting power.Griddy, the power retailer whose customers were slammed with exorbitant electricity bills, declined to attend the hearings.The historic outage left more than four million homes and businesses without heat, light and water during a deep winter freeze, causing as much as $129 billion in economic losses. Dozens of people died. The impact to individual companies is only starting to emerge, with some wracking up huge losses while oil and gas producers saw their output halted. Seven members of Ercot’s board have resigned in the aftermath.Key Highlights:The head of a trade group representing power retailers called for retroactively adjusting the $9,000-a-megawatt-hour price cap.Michael Fallquist, the CEO of power retailer Griddy that saw customers slammed with exorbitant electricity bills, declined to attend the hearings.Utilities have raised concerns about Ercot’s ability to pay for power generated last week while retailers challenge energy charges.The CEO of grid operator Ercot warned that power retailers and cooperatives in Texas racked up an “enormous amount of obligations” to generators and now face bankruptcy.CLICK HERE for highlights from the first day of hearings.All times Eastern.Power Retailers Call for Rolling Back $9,000 Price Cap (4:00 p.m.)The head of a trade group representing retail electricity providers told lawmakers that wholesale power prices should not have remained at the $9,000-a-megawatt-hour after Ercot stopped ordering power cuts late last week.“We were no longer in a functioning marketplace,” said Cathy Webking of the Texas Energy Association for Marketers. If those prices were retroactively adjusted, that would cut customers’ exposure to the price spike, she said.South Texas Utility Used Firewood to Prevent Freezing (2:32 p.m.)One South Texas utility burned mesquite in barrels to warm exposed units that otherwise would have iced up and broken down during the freeze.South Texas Electric Cooperatives also revved up diesel-fired heaters and propane torches to keep generation capacity from faltering in the historic chill, Mike Kezar, the co-op’s chief executive officer, told senators.Public Utility Concerned About Getting Paid Amid Bankruptcies (2:30):Denton Municipal Electric has paid Ercot $207 million for energy it purchased during last week’s crisis but has yet to receive payment from the grid operator for power the utility generated during the same period, said Assistant General Manager Terry Naulty.“Denton has paid all of its bill for $9,000 power to Ercot,” he said. “We are concerned that because of potential bankruptcy of retail providers we will not be paid.” The utility still needs to pay its $20 million gas bill, said Naulty.Biden Administration Says Texas Makes Own Market Decisions (2:15 pm.):As Texas hearings continued Friday, the Biden administration appeared reluctant to intervene in the state’s power market.It’s up to Texas to decide if “it wants to move in the direction of creating more resilience on its own systems,” Deputy National Security Adviser Elizabeth Sherwood-Randall told reporters on Air Force One as President Joe Biden traveled to Houston. She left open the door to some federal help but appeared cool to using taxpayer dollars to subsidize retrofits of Texas power plants that could help in the next Arctic blast. That’s not a federal decision, she said.“The first decision has to be made by the state of Texas about what kind of energy system it wants to maintain, what kind of energy market it wants to maintain and whether the financial incentives are structured for the kind of investment that needs to be made in resilience,” she said.Power Retailers Complain of Exorbitant Energy Charges (2:08 p.m.):Tom Hancock, the chief executive officer of utility Garland Power & Light, told lawmakers the cost of their ancillary services last week equaled 28 years of ancillary service costs based on last year’s total.Ancillary services help the grid operator maintain reliability on the system, including by infusing the grid with quick bursts of energy that stabilize the flow of electricity.Several retail electricity providers, including Young Energy LLC and Spark Energy Inc., Texas have disputed the costs of those services during last week’s energy crisis, and are seeking emergency relief from the Public Utility Commission. Freepoint Commodities LLC has also appealed to the commission, saying they intend to challenge Ercot’s ancillary service charges and are concerned the grid operator lacks the liquidity to return any successfully disputed payments.Ercot Loses 7th Board Member as Hearings Continue (1:25 p.m.):Texas’s grid operator Ercot lost a seventh board member Friday with the resignation of Clifton Karnei, who represented electric cooperatives. An Ercot spokesperson confirmed the resignation.The board’s chair and vice chair were among other members who resigned earlier this week in the wake of the energy crisis.Utility Says Ercot Hasn’t Paid It in Three Days (12:59 p.m.):The Lower Colorado River Authority, a public utility, has waited for payment from Texas’s grid operator for three days, according to President Phil Wilson. The power provider usually gets paid everyday, he said.The grid operator known as Ercot is currently trying to manage defaults by certain market participants in the wake of the crisis to ensure that generators are paid, officials said during a board meeting Wednesday.Wilson said high energy prices and generation issues during the grid emergency also affected the company’s revenues. “We lost money at the end of the day,” he said, adding that he hopes the utility will end the year “relatively unscathed.”Regulator Didn’t Know Gas Could be Classified ‘Critical Infrastructure’ (11:00 a.m.):The head of Texas’s energy regulator said she, in the lead-up to the blackouts, didn’t know natural gas facilities could be considered “critical infrastructure” spared from outages. “I didn’t know that was an opportunity,” Texas Railroad Commission Chair Christi Craddick told lawmakers during a house hearing Friday.Oncor Chief Executive Officer Allen Nye, speaking in a simultaneous senate hearing, said only 35 gas facilities were on his critical infrastructure list going into the event. The power distributor, which was responsible for implementing the blackouts ordered by the grid operator, added 168 facilities after receiving calls from the Railroad Commission and gas suppliers.‘Enormous’ Financial Obligations May Lead to Power Bankruptcies (12 a.m.):With sky-high wholesale power prices in place for days, power retailers and cooperatives in Texas racked up an “enormous amount of obligations” to generators, the state’s main grid operator said.Combined payments owed to generators hit $10 billion one day during the blackouts and $9.5 billion another, Ercot Chief Executive Officer Bill Magness said in a hearing at the state House of Representatives. Participants and cooperatives that owe those bills may have trouble paying and some may file for bankruptcy, he said.Another problem on the horizon is if some retailers aren’t able to pay, it’s unclear how the debt will be paid to the generators, Magness said. The agency is currently trying to determine how many won’t be able to pay so it can come up with an answer, he said.“We’re running into a big issue on the financial side because magnitude of money owed is enormous,” Magness said. “If a generator doesn’t get paid, we may lose generation on system, then that becomes an operational problem.”READ ALSO: Texas Cities Fret as Power Bills Mount in Wake of BlackoutsTexas’ $9,000 Power Price Cap ‘Didn’t Work,’ Regulator Says (11 p.m.):Texas’ $9,000-per-megawatt-hour maximum power price didn’t work during recent blackouts, Public Utility Commission Chairwoman DeAnn Walker said during a state House of Representatives hearing.The rate was set to entice generators to produce more power or for customers to consume less when reserves get low, and it has worked well during summer peaks, mostly because big industrial customers don’t want to pay the stiff bill, Walker said.During the power outages, the PUC ordered Ercot to keep the price at the cap to try to maximize generation, and prices were at or above that level for seven straight days, yet millions were still in the dark for days.“It didn’t work, and we have to fix that,” Walker said. “It’s a very complicated issue and I don’t have any ideas right now, but we need to work together to figure that out.”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.

  • Biden said 'Diplomacy is back!' Then he started dropping bombs

    Biden said 'Diplomacy is back!' Then he started dropping bombsBiden may inadvertently achieve what Trump couldn’t: destroying the Iran deal, Obama’s main foreign policy achievement ‘The Biden administration has seemingly initiated a highly unproductive blame game that has further damaged the atmospherics for diplomacy.’ Photograph: Jonathan Ernst/Reuters

  • Grant of Restricted Stock Units to Management and Employees and Grant of Warrants to Employees in Genmab

    Company Announcement COPENHAGEN, Denmark; February 26, 2021 – Genmab A/S (Nasdaq: GMAB) announced today that the board decided to grant 123,949 restricted stock units to four members of management and employees of the company as well as the company's subsidiaries and 99,938 warrants to employees of the company and the company's subsidiaries. Each restricted stock unit is awarded cost-free and provides the owner with a right and obligation to receive one share in Genmab A/S of nominally DKK 1. The vesting of the restricted stock units granted to the members of executive management will be subject to forward looking performance criteria. The fair value of each restricted stock unit is equal to the closing market price on the date of grant of one Genmab A/S share, DKK 2,070. The restricted stock units will vest on the first banking day of the month following a period of three years from the date of grant. Furthermore, the restricted stock units are subject to vesting conditions set out in the restricted stock unit program adopted by the board of directors in accordance with the Remuneration Policy adopted by the shareholders at the annual general meeting. Information concerning Genmab’s restricted stock unit program can be found on www.genmab.com under Investors > Stock information > Restricted stock units. The exercise price for each warrant is DKK 2,070. Each warrant is awarded cost-free and entitles the owner to subscribe one share of nominally DKK 1 subject to payment of the exercise price. By application of the Black-Scholes formula, the fair value of each warrant can be calculated as DKK 647.32. The warrants vest three years after the grant date, and all warrants expire at the seventh anniversary of the grant date. The new warrants have been granted on the terms and conditions set out in the warrant program adopted by the board of directors on February 23, 2021. Information concerning Genmab’s warrant schemes can be found on www.genmab.com under Investors > Stock information > Warrants. About Genmab Genmab is an international biotechnology company with a core purpose to improve the lives of patients with cancer. Founded in 1999, Genmab is the creator of multiple approved antibody therapeutics that are marketed by its partners. The company aims to create, develop and commercialize differentiated therapies by leveraging next-generation antibody technologies, expertise in antibody biology, translational research and data sciences and strategic partnerships. To create novel therapies, Genmab utilizes its next-generation antibody technologies, which are the result of its collaborative company culture and a deep passion for innovation. Genmab’s proprietary pipeline consists of modified antibody candidates, including bispecific T-cell engagers and next-generation immune checkpoint modulators, effector function enhanced antibodies and antibody-drug conjugates. The company is headquartered in Copenhagen, Denmark with locations in Utrecht, the Netherlands, Princeton, New Jersey, U.S. and Tokyo, Japan. For more information, please visit Genmab.com. Contact: Marisol Peron, Senior Vice President, Global Investor Relations & CommunicationsT: +1 609 524 0065; E: mmp@genmab.com For Investor Relations: Andrew Carlsen, Senior Director, Head of Investor RelationsT: +45 3377 9558; E: acn@genmab.com This Company Announcement contains forward looking statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with pre-clinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products or technologies obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab’s most recent financial reports, which are available on www.genmab.com and the risk factors included in Genmab’s most recent Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. Genmab does not undertake any obligation to update or revise forward looking statements in this Company Announcement nor to confirm such statements to reflect subsequent events or circumstances after the date made or in relation to actual results, unless required by law. Genmab A/S and/or its subsidiaries own the following trademarks: Genmab®; the Y-shaped Genmab logo®; Genmab in combination with the Y-shaped Genmab logo®; HuMax®; DuoBody®; DuoBody in combination with the DuoBody logo®; HexaBody®; HexaBody in combination with the HexaBody logo®; DuoHexaBody®; HexElect®; and UniBody®. Arzerra® and Kesimpta® are trademarks of Novartis AG or its affiliates. DARZALEX® and DARZALEX FASPRO® are trademarks of Janssen Pharmaceutica NV. TEPEZZA® is a trademark of Horizon Therapeutics plc. Company Announcement no. 13CVR no. 2102 3884LEI Code 529900MTJPDPE4MHJ122 Genmab A/SKalvebod Brygge 431560 Copenhagen VDenmark Attachment 210226_CA13_Warrant and RSU grant

  • The Lowdown on Low-Alcohol Wine, According to a Sommelier

    Whether you're sober curious or just searching for something that won't give you a severe hungover, here's what you should know about this wellness-centric wine trend.

  • Why Switchback Energy Acquisition Stock Dropped Today

    Shares of Switchback Energy Acquisition (NYSE: SBE), the special purpose acquisition vehicle that set its sights on taking electric car charging company ChargePoint public five months ago, has done so. ChargePoint is merged. After all, when Switchback first announced its target back in September, its stock was trading for just over $10 a share -- less than a third of what it costs today.

  • Lindsay Lohan and Crystal Waters See Streaming Surges Following ‘RuPaul’s Drag Race’ Lip Syncs

    Both Lindsay Lohan’s “Rumors” and Crystal Waters’ “100% Pure Love” saw huge surges in streaming numbers after being featured on “RuPaul’s Drag Race.” Waters rose to No. 9 on the Billboard dance/electronic charts after being featured in a lip sync battle between Denali and Kahmora Hall. A week after the Jan. 22 episode aired, the […]

  • PhaseBio Pharmaceuticals to Participate in Upcoming Investor Conferences

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    Levin Easterly Partners, a private asset management company dedicated to providing fundamental value-oriented equity solutions to investors, today announced that it has changed its name to Easterly Investment Partners. The name change is effective immediately.