SOUTH SAN FRANCISCO, Calif., Nov. 03, 2016 (GLOBE NEWSWIRE) — Five Prime Therapeutics, Inc. (Nasdaq:FPRX), a clinical-stage biotechnology company focused on discovering and developing innovative immuno-oncology protein therapeutics, today announced that a poster featuring preclinical data related to its tetravalent anti-GITR agonist antibody, FPA154, will be presented during the Society for Immunotherapy of Cancer (SITC) Annual Meeting, on November 11, 2016, in National Harbor, Maryland. Poster #175 titled, “Novel tetravalent anti-GITR antibody is a potent anti-tumor agent in vivo,” will be made available at http://www.fiveprime.com/news-media/publications-presentations following the presentation.
About Five Prime
Five Prime Therapeutics, Inc. discovers and develops innovative therapeutics to improve the lives of patients with serious diseases. Five Prime’s comprehensive discovery platform, which encompasses virtually every medically relevant extracellular protein, positions it to explore pathways in cancer, inflammation and their intersection in immuno-oncology, an area with significant therapeutic potential and a growing focus of the company’s R&D activities. Five Prime has entered into strategic collaborations with leading global pharmaceutical companies and has promising product candidates in clinical and late preclinical development. For more information, please visit www.fiveprime.com.
Cautionary Note on Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Five Prime’s expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release include statements regarding Five Prime’s potential receipt of upfront and milestone payments and royalties. Factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Five Prime’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” contained therein. Except as required by law, Five Prime assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.
CONTACT: CONTACTS: Heather Rowe Investor Relations 415-365-5737 email@example.com Amy Kendall Corporate Communications 415-365-5776 firstname.lastname@example.org
NEW YORK, Nov. 03, 2016 (GLOBE NEWSWIRE) — WisdomTree (NASDAQ:WETF), an exchange-traded product (“ETP”) sponsor and asset manager, today announced the launch of the WisdomTree Dynamic Currency Hedged International Quality Dividend Growth Fund (DHDG). DHDG seeks to provide exposure to developed international dividend-paying stocks with growth characteristics, while incorporating a dynamic element to mitigate currency exposure. DHDG has an expense ratio of 0.48%1.
Capturing International Quality Dividend Growth
Dividend-paying equities have increasingly become an attractive option for investors looking to generate income and pursue higher total return potential. Approximately 50% of the world’s investment opportunities are outside the U.S.2 – for investors seeking income, international investments in dividend-paying companies offer a new horizon.
WisdomTree’s approach to international quality dividend growth uses a forward-looking process designed to capitalize on dividend growth trends as they occur, in an attempt to raise the probability of generating exposure to future dividend growers. To identify these stocks, strict growth and quality selection factors are used: earnings growth expectations, high return on equity (ROE) and high return on assets (ROA) – the last two being measures associated with “quality.”
Compensated vs. Uncompensated Risk
Traditionally when investors allocate to foreign stocks, they take on local currency exposure as well. Developed world currencies can offer higher expected risk levels with no expected return enhancement. WisdomTree believes strategic hedging of currency exposure all the time is the most natural way to lower long-run volatility of international equity portfolios. However, a new way to hedge currency exposure looks to increase returns by adding hedges when they are expected to be more profitable.
WisdomTree, as the Index provider, has again collaborated with Record Currency Management to provide currency signals that hedge currency exposure dynamically, based on a three-factors: interest rate differentials, value and momentum.
“Investors often take on too much currency risk when they invest overseas. For those who do not want to make the timing decision themselves, DHDG will help dynamically adjust currency-hedge ratios based on a data-driven, transparent process. Adopting a dynamic approach with WisdomTree moves investors away from subjective calls and into a disciplined, factor-based approach to currency hedging. We believe our factors – carry, value and momentum – have potential to outperform both hedged and unhedged strategies over time by rotating currency hedges with their cycles,” said Jeremy Schwartz, WisdomTree Director of Research.
A Focus on Quality Dividend Growth: DHDG, IHDG, IQDG
WisdomTree now offers three different ways to be exposed to international equity ETFs focused on quality dividend growth: dynamically currency hedged using DHDG, fully currency hedged using the WisdomTree International Hedged Quality Dividend Growth Fund (IHDG), and currency unhedged with the WisdomTree International Quality Dividend Growth Fund (IQDG).
DHDG is new and has a limited operating history.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. To obtain a prospectus containing this and other important information, please call 866.909.WISE (9473), or visit wisdomtree.com to view or download a prospectus. Read the prospectus carefully before you invest.
There are risks associated with investing, including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. The Fund invests in derivatives in seeking to obtain a dynamic currency hedge exposure. Derivative investments can be volatile, and these investments may be less liquid than other securities, and more sensitive to the effects of varied economic conditions. Derivatives used by the Fund may not perform as intended. A Fund that has exposure to one or more sectors may be more vulnerable to any single economic or regulatory development. This may result in greater share price volatility. Dividends are not guaranteed and a company currently paying dividends may cease paying dividends at any time. The composition of the Index underlying the Fund is heavily dependent on quantitative models and data from one or more third parties, and the Index may not perform as intended. The Fund invests in the securities included in, or representative of, its Index regardless of their investment merit, and the Fund does not attempt to outperform its Index or take defensive positions in declining markets. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.
Jeremy Schwartz is a registered representative of Foreside Fund Services, LLC.
WisdomTree Funds are distributed by Foreside Fund Services, LLC in the U.S. only.
WisdomTree Investments, Inc., through its subsidiaries in the U.S., Europe, Japan and Canada (collectively, “WisdomTree”), is an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager headquartered in New York. WisdomTree offers products covering equities, fixed income, currencies, commodities and alternative strategies. WisdomTree currently has approximately $38.6 billion in assets under management globally.
WisdomTree® is the marketing name for WisdomTree Investments, Inc. and its subsidiaries worldwide.
1The Fund’s gross expense ratio of 0.96% and the net expense ratio of 0.48% reflect contractual waivers of 0.48% through 10/31/17.
2Source: Bloomberg. Based on the MSCI ACWI Index universe, a broadly recognized global benchmark, as of 9/30/16.
CONTACT: Contact Information: WisdomTree Investments, Inc. Melissa Chiles / Jessica Zaloom +1.917.267.3797 / +1.917.267.3735 email@example.com / firstname.lastname@example.org
WILKES-BARRE, Pa., Nov. 03, 2016 (GLOBE NEWSWIRE) — Longtime Navient employee William “Bill” Gabriel, who has been with the company for 25 years, has received Navient’s quarterly Navigator Leadership Award.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f5923c01-8181-4904-bdd6-b0b7d5eb5e53
The award is presented to one company leader who demonstrates excellence in business, people, results and personal leadership.
“Bill is a multi-dimensional leader who obtains the best business results,” said Jack Remondi, president and CEO, Navient. “He accomplishes this by working with all levels of employees within his own organization and throughout the enterprise and by demonstrating Navient’s core values and mission.”
Gabriel, who is the director of loan servicing for Navient, the nation’s leading loan management, servicing and asset recovery company, was nominated for the award by two of his colleagues for exemplifying Navient’s values and leadership competencies.
“We all know what it is like being on the other side of a problem and appreciate dealing with someone who has compassion and dedication to resolving our needs,” said Gabriel. “I also believe in striving to be the best at what you do, whether we are talking about customer service, participating in sports, or serving our communities. If you perform at your best, it is always a result you can live with.”
Managing a team of about 75 employees, Gabriel was responsible for overseeing the transition of 4 million student loans to a new servicing platform.
Gabriel is also known for embracing career development by mentoring, teaching and promoting employees and encouraging them to investigate, apply and accept positions elsewhere in the company that could utilize their skill-set.
Gabriel currently resides in Kingston with his wife Amy and two children, Liam and Bridget. He is currently enrolled in leadership classes at Leadership Wilkes-Barre, an organization whose mission is to develop informed and committed leaders from all segments of the community.
As the nation’s leading loan management, servicing and asset recovery company, Navient (Nasdaq:NAVI) helps customers navigate the path to financial success. Servicing more than $300 billion in student loans, the company supports the educational and economic achievements of more than 12 million Americans. A growing number of public and private sector clients rely on Navient for proven solutions to meet their financial goals. Learn more at navient.com.
CONTACT: Contact: Media: Nick LaMastra, 302-283-2964, email@example.com
SALT LAKE CITY, Nov. 03, 2016 (GLOBE NEWSWIRE) — Great Basin Scientific, Inc. (OTCQB:GBSN), a molecular diagnostics company, today announced that it has entered into an agreement with holders of its 2015 Senior Secured Covertible Notes to exchange all of its approximately $8.5 million in principal for 8,436 shares of new Series F Convertible Preferred stock. The Company will also receive a release on the restrictions of approximately $3.6 million of cash from the restricted cash accounts upon closing of the exchange agreement.
Under the exchange agreement, each preferred share has a stated value of $1,000, and will be convertible into common stock during the first year at the fixed conversion price equal to $0.02, subject to certain antidilution adjustments. Beginning on the 8-month anniversary of the issuance of the preferred stock, the preferred stock will convert into common stock at a variable price of 85% of either the three lowest daily weighted average prices of the Company’s common stock during the 20 consecutive trading days ending on the trading day immediately preceding the date of determination or the weighted average price of the Company’s common stock on the trading day immediately preceding the date of determination, whichever is lower.
The preferred shares will automatically convert into shares of common stock at the following two dates: (1) On November 3, 2016, 2,098 preferred shares shall convert into 104.9 million shares of common stock at the fixed conversion price (or, if required by beneficial ownership limitations, held in abeyance by the Company for subsequent issuance to the appliable holder) and (2) On November 3, 2018, the second anniversary of the issuance date, in full, at the fixed conversion price.
The preferred stock will vote on an as-converted basis (subject to a 9.99% voting cap per holder) with the holders of the Company’s common stock on all matters subject to a vote of Great Basin common stockholders.
The Series F Preferred Shares and the shares of common stock issuable upon conversion of the Series F Preferred Shares have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered and sold absent such registration or an exemption from such registration requirements and in compliance with all applicable state securities laws and regulations. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
For additional information concerning the details of the exchange and the terms of the certificate of designations with respect to the Series F Preferred Shares, please refer to the Form 8-K the Company will file with the Securities and Exchange Commission.
About Great Basin Scientific
Great Basin Scientific is a molecular diagnostics company that commercializes breakthrough chip-based technologies. The Company is dedicated to the development of simple, yet powerful, sample-to-result technology and products that provide fast, multiple-pathogen diagnoses of infectious diseases. The Company’s vision is to make molecular diagnostic testing so simple and cost-effective that every patient will be tested for every serious infection, reducing misdiagnoses and significantly limiting the spread of infectious disease.
This press release includes forward-looking statement regarding events, trends and business prospects, which may affect future operating results and financial position, including but not limited to statements regarding the future conversion of the Series F Preferred Stock, the Company’s business development plans or other similar statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risk and uncertainties include, but are not limited to: (i) our limited operating history and history of losses; (ii) our ability to develop and commercialize new products and the timing of commercialization; (iii) our ability to obtain capital when needed; and (iv) other risks set forth in the Company’s filings with the Securities and Exchange Commission, including the risks set forth in the company’s Annual Report on Form 10-K for the year ended December 31, 2015 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2016. These forward-looking statements speak only as of the date hereof, and Great Basin Scientific specifically disclaims any obligation to update these forward-looking statements, except as required by law.
CONTACT: Media Contact: Nirav Suchak ICR 646.277.1257 firstname.lastname@example.org Investor Relations Contact: Betsy Hartman Great Basin Scientific 385.215.3372 email@example.com
MENLO PARK, Calif., Nov. 03, 2016 (GLOBE NEWSWIRE) — Geron Corporation (Nasdaq:GERN) today announced that four abstracts related to the imetelstat program have been accepted for presentation at the 58th American Society of Hematology (ASH) Annual Meeting and Exposition to be held in San Diego, California from December 3-6, 2016. The abstracts were published today on the ASH website at www.hematology.org.
One abstract containing non-clinical data on imetelstat was selected for oral presentation. These data extend previous preclinical work conducted in a patient-derived model of acute myeloid leukemia.
Title: The preclinical efficacy of a novel telomerase inhibitor, imetelstat, in AML – a randomized trial in patient-derived xenografts (Abstract #578)
Session Name: 604. Molecular Pharmacology and Drug Resistance in Myeloid Diseases: Targeting Leukemia-Initiating Cells
Session Date: Monday, December 5, 2016
Presentation Time: 7:15 a.m. PT
Three abstracts related to imetelstat were selected for presentation as posters. One abstract investigates the potential impact of imetelstat on leukemia stem cells in a non-clinical model of chronic myeloid leukemia. The second abstract reports new data on telomere length dynamics from essential thrombocythemia patients providing further support that imetelstat treatment may suppress the neoplastic clones underlying the disease. The third abstract presents an analysis of treatment patterns and outcomes of patients with myelofibrosis from the United States medical claims databases that underscores the need for additional treatment options in that disease.
Title: Telomerase Inhibition with Imetelstat Eradicates β-catenin Activated Blast Crisis Chronic Myeloid Leukemia Stem Cells (Abstract #3065)
Session Name: 632. Chronic Myeloid Leukemia: Therapy: Poster II
Session Date: Sunday, December 4, 2016
Session Time: 6:00 p.m. – 8:00 p.m. PT
Title: Dynamics of Telomere Length Reflect the Clonal Suppression Seen with the Telomerase Inhibitor Imetelstat in Patients with Essential Thrombocythemia (Abstract #1938)
Session Name: 634. Myeloproliferative Syndromes: Clinical: Poster I
Session Date: Saturday, December 3, 2016
Session Time: 5:30 p.m. – 7:30 p.m. PT
Title: Characterization of Disease, Treatment Patterns, and Outcomes of Patients with Myelofibrosis: Analysis of 2 United States Commercial Claims Databases (Abstract #4769)
Session Name: 904. Outcomes Research – Malignant Conditions: Poster III
Session Date: Monday, December 5, 2016
Session Time: 6:00 p.m. – 8:00 p.m. PT
In accordance with ASH policies, abstracts submitted to the ASH Annual Meeting are embargoed from the time of submission. To be eligible for presentation at the ASH Annual Meeting, information contained in the abstract, as well as additional data and information to be presented at the Annual Meeting, may not be made public before the abstract has been presented in connection with the ASH Annual Meeting.
Imetelstat (GRN163L; JNJ-63935937) is a potent and specific inhibitor of telomerase that is administered by intravenous infusion. This first-in-class compound, discovered by Geron, is a specially designed and modified short oligonucleotide, which targets and binds directly with high affinity to the active site of telomerase. Preliminary clinical data suggest imetelstat has disease-modifying activity by inhibiting malignant progenitor cell clones associated with hematologic malignancies in a relatively select manner. Most commonly reported adverse events in imetelstat clinical studies include fatigue, gastrointestinal symptoms and cytopenias. Patients in these studies also experienced elevated liver enzymes, which resolved to normal or baseline in the majority of patients followed after imetelstat treatment was withdrawn. Imetelstat has not been approved for marketing by any regulatory authority.
About the Collaboration with Janssen
On November 13, 2014, Geron entered into an exclusive worldwide license and collaboration agreement with Janssen Biotech, Inc., to develop and commercialize imetelstat for oncology, including hematologic myeloid malignancies, and all other human therapeutics uses. Under the terms of the agreement, Geron received an upfront payment of $35 million and is eligible to receive additional payments up to a potential total of $900 million for the achievement of development, regulatory and commercial milestones, as well as royalties on worldwide net sales. All regulatory, development, manufacturing and promotional activities related to imetelstat are being managed through a joint governance structure, with Janssen responsible for these activities.
Geron is a clinical stage biopharmaceutical company focused on the collaborative development of a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. For more information about Geron, visit www.geron.com.
Use of Forward-Looking Statements
Except for the historical information contained herein, this press release contains forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release regarding: (i) imetelstat having activity in other hematologic myeloid malignancies, including acute myeloid leukemia or chronic myeloid leukemia; (ii) imetelstat treatment suppressing the neoplastic clones underlying the disease in hematologic myeloid malignancies; (iii) the safety and efficacy of imetelstat; (iv) the potential receipt by Geron of additional payments up to a potential total of $900 million for the achievement of development, regulatory and commercial milestones, and royalties from sales of imetelstat; and (v) other statements that are not historical facts, constitute forward-looking statements. These statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties, include, without limitation, risks and uncertainties related to: (i) whether imetelstat will succeed in IMbarkTM and IMergeTM and potential future clinical trials by overcoming all of the clinical safety and efficacy, technical, scientific, manufacturing and regulatory challenges; (ii) Geron’s dependence on Janssen for the development, regulatory approval, manufacture and commercialization of imetelstat, including the risks that if Janssen were to breach or terminate the collaboration agreement or otherwise fail to successfully develop and commercialize imetelstat and in a timely manner, or at all, Geron would not obtain the anticipated financial and other benefits of the collaboration agreement with Janssen and the clinical development or commercialization of imetelstat could be delayed or terminated; (iii) the fact that Geron may not receive any milestone, royalty or other payments from Janssen because Janssen may terminate the collaboration agreement for any reason; (iv) whether imetelstat is safe and efficacious, and whether any future efficacy or safety results may cause the benefit/risk profile of imetelstat to become unacceptable and (v) whether imetelstat can be applied to any or to multiple hematologic malignancies. Additional information on the above risks and uncertainties and additional risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements are contained in Geron’s periodic reports filed with the Securities and Exchange Commission under the heading “Risk Factors,” including Geron’s quarterly report on Form 10-Q for the quarter ended June 30, 2016. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change. Except as required by law, Geron disclaims any obligation to update these forward-looking statements to reflect future information, events or circumstances.
CONTACT: CONTACT: Anna Krassowska, Ph.D. Investor and Media Relations 650-473-7765 firstname.lastname@example.org email@example.com
YORK, Pa., Nov. 03, 2016 (GLOBE NEWSWIRE) — The York Water Company’s (NASDAQ:YORW) President, Jeffrey R. Hines, announced today the Company’s financial results for the third quarter and the first nine months of 2016.
President Hines reported that third quarter 2016 operating revenues of $12,601,000 increased $233,000 and net income of $3,571,000 increased $51,000 compared to the third quarter of 2015. Earnings per share of $0.27 for the three-month period decreased $0.01 compared to the same period last year due to an increase in the number of shares outstanding.
President Hines also reported that operating revenues for the first nine months of 2016 of $35,699,000 increased $227,000, due to the addition of nearly 1,000 new customers and higher service revenues. Net income of $8,904,000 decreased by $69,000 compared to the first nine months of 2015 despite the increase in revenue primarily due to higher depreciation expense and higher income taxes due to reduced maintenance and repair tax deductions. Other operating expenses were consistent or lower for the first nine months of 2016 compared to the same period in 2015. Earnings per share for the nine-month period were $0.69 in 2016 and $0.70 in 2015.
During the first nine months of 2016, the Company invested $8.3 million in construction expenditures for further upgrades to water treatment facilities and information technology, as well as various replacements of infrastructure and other routine items. In addition, the Company invested $29,000 in the acquisition of water facilities. The Company estimates it will invest an additional $4 million in 2016, excluding acquisitions, for expansion and improvements to its pipes, service lines, water and wastewater treatment facilities, an additional untreated water pumping station and force main, and various replacements and upgrades to other infrastructure to ensure a safe, adequate, and reliable supply of drinking water and to maintain proper handling and disposal of wastewater for the Company’s growing customer base.
|Period Ended September 30|
|In 000’s (except per share)|
|Average Number of Common Shares Outstanding||12,868||12,835||12,847||12,844|
|Basic Earnings Per Common Share||$||0.27||$||0.28||$||0.69||$||0.70|
|Dividends Declared Per Common Share||$||0.1555||$||0.1495||$||0.4665||$||0.4485|
On August 8, 2016, the Company signed an agreement to purchase the water assets of Stockham’s Village Mobile Home Park in Adams County, Pennsylvania. Completion of this acquisition is contingent upon receiving approval from all required regulatory authorities. The Company expects to begin serving approximately 80 new customers through an interconnection with its current distribution system in the first quarter of 2017.
This news release may contain forward-looking statements regarding the Company’s operational and financial expectations. These statements are based on currently available information and are subject to risks, uncertainties, and other events which could cause the Company’s actual results to be materially different from the results described in this statement. The Company undertakes no duty to update any forward-looking statement.
CONTACT: Contact: Jeffrey R. Hines, President firstname.lastname@example.org Or Kathleen M. Miller, Chief Financial Officer email@example.com Phone: 717-845-3601