Anthony Edwards (Minnesota Timberwolves) with a dunk vs the Brooklyn Nets, 04/13/2021
Anthony Edwards (Minnesota Timberwolves) with a dunk vs the Brooklyn Nets, 04/13/2021
SHAREHOLDER ACTION ALERT: The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against ChemoCentryx, Inc.
The Law Offices of Frank R. Cruz Announces Investigation of ChemoCentryx, Inc. (CCXI) on Behalf of Investors
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.
Jessie Bekkedahl makes video lessons about words, shapes, and letters with her dog "Professor Ginger" for her kindergarten students in Riverside, California
NEW YORK, May 06, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against XL Fleet Corp. (“XL Fleet” or the “Company”) (NYSE: XL) and certain of its officers. The class action, filed in the United States District Court for the Southern District of New York, and docketed under 21-cv-02171, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired XL Fleet securities between October 2, 2020 and March 2, 2021, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”). If you are a shareholder who purchased XL Fleet securities during the Class Period, you have until May 7, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at email@example.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action] XL Fleet provides vehicle electrification solutions for commercial and municipal fleets in North America. The Company offers hybrid and plug-in hybrid electric drive systems. XL Fleet formed via merger of XL Hybrids, Inc. and Pivotal Investment Corporation II (“Pivotal”), which closed on or about December 22, 2020. Pivotal was a special purpose acquisition company incorporated for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) XL Fleet’s salespeople were pressured to inflate their sales pipelines to boost the Company’s reported sales and backlog; (ii) at least eighteen of the thirty-three customers that XL featured were inactive and had not placed an order since 2019; (iii) XL’s technology had been materially overstated and offered only 5% to 10% of fleet savings; (iv) XL lacks the supply chain and engineers to roll out new products on the announced timelines; and (v) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On March 3, 2021, Muddy Waters Research (“Muddy Waters”) published a report entitled “XL Fleet Corp. (NYSE: XL): More SPAC Trash,” alleging, among other things, that salespeople “were pressured to inflate their sales pipelines materially in order to mislead XL’s board and investors” and that “customer reorder rates are in reality quite low” due to “poor performance and regulatory issues.” Citing interviews with former employees, the report alleged that “at least 18 of 33 customers XL featured were inactive.” Muddy Waters also claimed that XL Fleet has “weak technology” and that “XL’s announcement of future class 7-8 upfits seems highly promotional” because the task is “too technologically complex for XL engineers to deliver on the promised timeline.” On this news, the Company’s share price fell $2.09 per share, or 13%, to close at $13.86 per share on March 3, 2021, on unusually heavy trading volume. The share price continued to decline by $2.69 per share, or 19.4%, over two consecutive trading sessions to close at $11.17 per share on March 5, 2021, on unusually heavy trading volume. The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980
Franco-Nevada Corporation announced that the nominees listed in the management proxy circular for the 2021 Annual and Special Meeting of Shareholders were elected as directors of the Corporation. Detailed results of the vote for the election of directors held at the Annual Meeting yesterday by webcast are set out below.
CALGARY — Canada's top players in women's hockey will finally get to play real games later this month in Calgary.The Professional Women's Hockey Players' Association (PWHPA) is holding Canada's first Dream Gap Tour event in over a year May 24-30 at a Calgary venue yet to be announced.Sixty players from the PWHPA's three Canadian hubs in Toronto, Montreal and Calgary will play to determine the Canadian Secret Cup champion.Secret, which announced a $1-million sponsorship of the PWHPA earlier this year, and the NHL's Calgary Flames are the financial partners in the event.All games will be broadcast on Sportsnet and its streaming platform.Similar COVID-19 quarantine and testing protocols established by Hockey Canada for the world junior men's hockey championship and national women's and para hockey camps in Alberta will be incorporated.Alberta tightened restrictions this week in the face of rising COVID cases, but Alberta Health has approved plans for the women's tournament, PWHPA operations consultant Jayna Hefford said. "They believe the protocols, the quote-unquote bubble that's been put in place, will secure the safety of our group and Albertans," the Hockey Hall of Famer told The Canadian Press. "There will be no interaction with the public."While the PWHPA's Calgary plans were in the works before Nova Scotia's premier pulled the plug on this month's women's world championship, the Dream Gap Tour now offers an oasis in what's been a pandemic hockey desert for the majority of players in the national women's team pool.The last real games many of them played came in a PWHPA tournament March 6-8, 2020 in Arizona. The last PWHPA event in Canada was Jan. 11-12, 2020 in Toronto.The PWHPA's American chapter has played a handful of games in the United States in recent weeks, although a two-day tournament in St. Louis was postponed from early April to May 16-17.Canada's mandatory 14-day quarantine upon return from outside the country kept Canadian players from participating in the U.S. games.Stricter health regulations across Canada also made skating together in groups impossible at times and planning actual games in the country a non-starter."It's been so challenging," Hefford said. "We had to try to encourage our players to be patient early on in the season, and even in early 2021 we continued to reiterate we would only host events if we could feel really comfortable about the safety of everyone involved."The PWHPA, which includes Canadian and U.S. national team players, rose from the ashes of the Canadian Women's Hockey League that folded in 2019. The goal of the roughly 150 players is a sustainable league that offers the competitive supports and training environments the male pros get, and wages that allow them to be professional athletes.They've so far refused to join the six-team National Women's Hockey League, which recently announced a doubling of each team's salary cap to US$300,000 for next season. The Toronto Six is the lone Canadian club in that league.The PWHPA held a series of Dream Gap Tour tournaments and events across North America in 2019-20 before the global pandemic brought the sporting world to its knees.The pandemic continued to impede women's hockey internationally and domestically.The women's world championship in Nova Scotia was cancelled a second straight year, although Hockey Canada is committed to hosting the tournament in August in a location yet to be named.January's world under-18 women's championship in Sweden was called off, while a men's under-20 champion was crowned in Edmonton that month.The men's world under-18 championship in Texas concludes Thursday. The men's world championship is scheduled to open in just over two weeks on May 21 in Riga, Latvia.The NHL, men's minor pro leagues and major junior's Western Hockey League and Quebec Major Junior Hockey League all operated in some form this winter.The NHL's Flames have been supportive of women's hockey throughout the pandemic, Hefford said."To be able to take the next step and have this showcase, or have a league, is critical," Flames head coach Darryl Sutter said Thursday. "At the grassroots, there's a lot of girls playing hockey. "I think its just a matter of time where you have more girls involved in the NHL part of it too, in terms of coaching and training and all that."Calgary's Scotiabank, Toronto's Sonnet and Montreal's Bauer squaring off for a trophy and prize money can help revive the visibility of women's hockey in Canada, Hefford said."We represent the players and we want to see them out there," she stated."We have partners that have been so loyal and committed, so helpful in this process to move this forward, get the women back on the ice. "It seems like men's hockey has gone on and we continue to hit these hurdles. "I hope this is a great opportunity for the women to play, but also for people to see the best of women's hockey on the ice again."This report by The Canadian Press was first published May 6, 2021. Donna Spencer, The Canadian Press
TORONTO — Canada's main stock index slipped despite positive moves by the commodities sectors while the loonie hit its highest level in more than three years. The Canadian dollar topped 82 cents US for the first time since September 2017, but slipped just below that threshold as stock markets closed. It traded for 81.97 cents US compared with 81.49 cents US on Wednesday. The currency received a boost after the last Bank of Canada meeting in which the central bank indicated it would begin tapering of bond-buying. There was no specific catalyst for Thursday's move higher but the loonie has been correlated to the S&P 500, which gained on the day, said Erik Bregar, head of currency strategy at the Exchange Bank of Canada. "I think we've seen just enough of a buoyant sentiment in stocks to keep the Canadian dollar close to its session highs," he said in an interview. The S&P/TSX composite index closed down 19.76 points to 19,290.98 after hitting an intraday low of 19,181.87. In New York, the Dow Jones industrial average was up 318.19 points to a record close of 34,548.53. The S&P 500 index was up 34.03 points at 4,201.62, while the Nasdaq composite was up 50.41 points at 13,632.84. "That sort of steady to higher sentiment for stocks is enough to keep the Canadian dollar still bid here towards the end of the day," Bregar added. Trading climbed to start the day after the U.S. jobless benefit claims declined last week to 498,000, the lowest level of the pandemic. Investors are watching for Friday's jobless numbers in Canada and the U.S. for a signal on how the economic recovery is progressing. U.S. estimates vary widely. "That's why I think it could be the next inflection point for the market," Bregar added. Market sentiment shifted after Dallas Federal Reserve CEO Robert Kaplan said he would like to consider discussing the tapering of bond-buying "sooner rather than later." Bregar said it was a "bit of a hawkish tone" that is counter to chairman Jerome Powell's stated narrative. But it seemed to concur with Treasury Secretary Janet Yellen's comments Tuesday that interest rates should rise to prevent the economy from overheating. She later walked those back saying they weren't meant to be a prediction. Materials and energy were the strongest sectors on the TSX. The sector that includes metals, forestry and fertilizer companies gained 1.9 per cent as gold increased above the psychological threshold of US$1,800 an ounce and copper again set new decade highs. The June gold contract was up US$31.40 at US$1,815.70 an ounce and the July copper contract was up 7.85 cents at US$4.60 a pound. Endeavour Silver Corp. shares gained 10 per cent, SSR Mining Inc. was up 8.1 per cent and New Gold Inc. rose 5.7 per cent on the day. Energy increased by nearly one per cent even though crude oil prices dropped, with shares of Arc Resources Ltd. up 8.5 per cent. The June crude contract was down 92 cents at US$64.71 per barrel and the June natural gas contract was down one cent at US$2.93 per mmBTU. Health care and technology were the big laggards. Shares of Organigram Holdings Inc. and Aphria Inc. slumped 7.2 per cent and 5.6 per cent, respectively, to push health care down 5.1 per cent on the day. Technology was off 1.6 per cent with Lightspeed POS Inc. down 5.1 per cent and Shopify Inc. 3.8 per cent lower. This report by The Canadian Press was first published May 6, 2021. Companies in this story: (TSX:LSPD, TSX:SHOP, TSX:OGI, TSX:APHA, TSX:ARX, TSX:EDR, TSX:SSRM, TSX:NGD, TSX:GSPTSE, TSX:CADUSD=X) Ross Marowits, The Canadian Press
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
LONG BEACH, Calif. — Virgin Orbit, the satellite launch company founded by Richard Branson, is targeting June for its next mission. The Long Beach, California-based company, which conducted its first successful launch last January, said Thursday it will launch satellites into orbit for the U.S. Defence Department, the Netherlands' air force and Poland's SatRevolution. The Defence Department payloads are small satellites called CubeSats. The launch was awarded to Virgin under a program intended speed up use of commercial technology by the U.S. military. The Netherlands' payload is also a CubeSat and is that nation's first military satellite. Virgin Orbit's LauncherOne rocket will also carry the first two optical satellites for a 14-satellite constellation planned by SatRevolution. Virgin Orbit uses a modified Boeing 747-400 jet to carry the rocket to high altitude, where it is released from beneath a wing and its motor is ignited. The company reached space for the first time on Jan. 17 on its Demo 2 mission, which carried a cluster of small satellites built as part of a NASA educational program involving U.S. universities. Virgin Orbit attempted its first demonstration launch in May 2020, but a problem caused the rocket to stop thrusting after only a brief period of powered flight. The Associated Press
Plant-based meat company Beyond Meat posted a first-quarter loss Thursday after higher sales were offset by marketing costs and lower prices. The company based in El Segundo, California, reported that its revenue rose 11.4% to $108.2 million in the January-March period. That fell short of Wall Street's forecast of $112.6 million, according to analysts polled by FactSet. Beyond Meat reported a net loss of $27.3 million, compared to a profit of $1.8 million in the same period a year ago. Adjusted for one-time items, the company lost 42 cents per share. Analysts had expected a loss of 18 cents a share. Beyond Meat's shares fell more than 6% in after-market trading Thursday. The company added hot Italian sausage and value burger packs at several hundred Walmart stores in March. It said its retail sales were up 28% during the quarter. But food service sales were down 26%, reflecting lower restaurant demand during the pandemic. Beyond Meat said retail demand has moderated since the start of the pandemic, when there was a surge in buying for cooking at home. At the same time, food service demand is starting to tick upward as restaurants reopen their dining rooms. Because post-pandemic patterns are difficult to predict, the company declined to provide financial guidance for the full year. But it said it expects its second-quarter revenue to increase between 19% and 32% to a range of $135 million to $150 million. Dee-Ann Durbin, The Associated Press
(TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)
NEW YORK, May 06, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Plug Power Inc. (“Plug Power” or the “Company”) (NASDAQ: PLUG) and certain of its officers. The class action, filed in the United States District Court for the Central District of California, and docketed under 21-cv-02402, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Plug securities between November 9, 2020 and March 1, 2021, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”). If you are a shareholder who purchased Plug Power securities during the Class Period, you have until May 7, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action] Plug provides comprehensive hydrogen fuel cell turnkey solutions focused on systems used to power electric motors in the electric mobility and stationary power markets. The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company would be unable to timely file its 2020 annual report due to delays related to the review of classification of certain costs and the recoverability of the right to use assets with certain leases; (2) that the Company was reasonably likely to report material weaknesses in its internal control over financial reporting; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On March 2, 2021, before the market opened, Plug filed a Notification of Late Filing with the SEC stating that it could not timely file its annual report for the period ended December 31, 2020 because the Company was completing a “review and assessment of the treatment of certain costs with regards to classification between Research and Development versus Costs of Goods Sold, the recoverability of right of use assets associated with certain leases, and certain internal controls over these and other areas.” The Company stated that “[i]t is possible that one or more of these items may result in charges or adjustments to current and/or prior period financial statements.” On this news, the Company’s stock price fell $3.68, or 7%, to close at $48.78 per share on March 7, 2021, on unusually heavy trading volume. The share price continued to decline by $9.48, or 19.4%, over three consecutive trading sessions to close at $39.30 per share on March 5, 2021, on unusually heavy trading volume. The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980
BELTSVILLE, Md., May 06, 2021 (GLOBE NEWSWIRE) -- NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical company committed to discovering and developing novel, first-in-class immunomedicines to treat cancer and other immune-related diseases, today reported first quarter 2021 financial results and provided a business update. “We are highly focused on advancing our three clinical programs and broadening our pipeline of novel immunomedicines this year. We are committed to continuing to evaluate NC318 in multiple indications in our Phase 2 monotherapy trial as well as the Phase 2 investigator-initiated clinical trial at Yale University that recently commenced,” said Michael Richman, NextCure’s president and chief executive officer. “The NC410 program continues to advance and we will be sharing a trial in progress poster at the upcoming American Society of Clinical Oncology Virtual Annual Meeting. With encouraging preclinical and IND-enabling data for NC762 presented at AACR, we look forward to advancing the asset into the clinic this quarter.” Business Highlights and Upcoming Milestones Commenced the Yale University Phase 2 investigator-initiated clinical trial of NC318 in combination with pembrolizumab in patients with advanced non-small cell lung cancer with anticipated initial data in the first half of 2022.Presented preclinical and investigational new drug (IND)-enabling data for NC762 at the American Association for Cancer Research Annual Meeting 2021.On track to initiate the NC762 Phase 1 clinical trial in the second quarter of 2021 and report initial data in mid-2022.On track to report NC318 Phase 2 monotherapy update in the fourth quarter of 2021.Continue enrolling patients in the Phase 1 portion of a Phase 1/2 clinical trial for NC410 and on track to report initial clinical data in the second half of 2021.Present trial in progress poster for NC410 at the upcoming 2021 American Society of Clinical Oncology (ASCO) Virtual Annual Meeting. Financial Guidance Based on its current research and development plans, NextCure expects its existing cash, cash equivalents and marketable securities will enable it to fund operating expenses and capital expenditure requirements into the second half of 2023. Financial Results for Quarter Ended March 31, 2021 Cash, cash equivalents, and marketable securities, excluding restricted cash as of March 31, 2021, were $268.2 million as compared with $283.4 million as of December 31, 2020. The decrease of $15.2 million reflects cash used to fund operations of $13.9 million and cash used to purchase fixed assets of $0.8 million.Research and development expenses were $12.4 million for the quarter ended March 31, 2021 as compared to $10.6 million for the quarter ended March 31, 2020. The increase was primarily related to increase in personnel-related costs.General and administrative expenses were $4.8 million for the quarter ended March 31, 2021, as compared to $3.6 million for the quarter ended March 31, 2020. The increase was primarily related to increase in personnel-related costs.Revenue was not recognized in the quarter ended March 31, 2021, as compared to $22.4 million for the quarter ended March 31, 2020. Revenue generated in the first quarter of 2020 was from our former research and development agreement with Eli Lilly.Net loss was $16.5 million for the quarter ended Mach 31, 2021, as compared with net income of $9.7 million for the quarter ended March 31, 2020. The change to a loss from the previous year’s quarter were primarily due to the recognition in the prior year of the remaining deferred revenue under the former agreement with Eli Lilly and increased personnel-related costs in both research and development expenses and general and administrative expenses. About NC318NC318 is a first-in-class immunomedicine against S15, a novel immunomodulatory target found on highly immunosuppressive cells called M2 macrophages in the tumor microenvironment and on certain tumor types including lung, ovarian and head and neck cancers. In preclinical research, it was observed that S15 promoted the survival and differentiation of suppressive myeloid cells and negatively regulated T cell function, allowing cancer to avoid immune destruction. In preclinical studies, NC318 blocked the negative effects of S15. NextCure believes NC318 has the potential to treat multiple cancer types. About NC410NC410 is a first-in-class immunomedicine designed to block immune suppression mediated by LAIR-1, an immunomodulatory receptor expressed on T cells and dendritic cells, a type of antigen presenting cell. In preclinical research, it was observed that LAIR-1 inhibited T cell function and dendritic cell activity allowing tumor cells to grow. In preclinical studies, NC410 blocked the negative effects of LAIR-1 and promoted T cell function and dendritic cell activity. NextCure believes NC410 has the potential to treat multiple cancer types. About NC762NC762 is a monoclonal antibody that binds specifically to B7-H4, a protein expressed on multiple tumor types. NextCure believes NC762 acts by inhibiting tumor cell growth and killing tumor cells, including by enhancing immune response. The company has observed in preclinical studies that NC762 inhibits the growth of human melanoma tumors in mice, and believes that NC762 has the potential to treat multiple tumor types. NextCure’s research indicates that NC762 inhibits tumor cell growth independently of immune cell infiltration in the tumor microenvironment. About NextCure, Inc.NextCure is a clinical-stage biopharmaceutical company committed to discovering and developing novel, first-in-class immunomedicines to treat cancer and other immune-related diseases. Through our proprietary FIND-IO™ platform, we study various immune cells to discover and understand targets and structural components of immune cells and their functional impact in order to develop immunomedicines. Our initial focus is to bring hope and new treatments to patients who do not respond to current cancer therapies, patients whose cancer progresses despite treatment and patients with cancer types not adequately addressed by available therapies. www.nextcure.com Forward-Looking StatementsSome of the statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including with respect to our plans, objectives and expectations for our business, operations and financial performance and condition, including the progress and results of clinical trials, development plans regarding our immunomedicines and upcoming milestones. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “should,” “due,” “estimate,” “expect,” “intend,” “hope,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,” “seek,” “target,” “towards,” “forward,” “later,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or similar language. Forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those projected in any forward-looking statement. Such risks and uncertainties include, among others: the impacts of the COVID-19 pandemic (including the emergence of variant strains) on NextCure’s business, including NextCure’s clinical trials, third parties on which NextCure relies and NextCure’s operations; positive results in preclinical studies may not be predictive of the results of clinical trials; NextCure’s limited operating history and no products approved for commercial sale; NextCure’s history of significant losses; NextCure’s need to obtain additional financing; risks related to clinical development, marketing approval and commercialization; the unproven approach to the discovery and development of product candidates based on NextCure’s FIND-IO platform; and dependence on key personnel. More detailed information on these and additional factors that could affect NextCure’s actual results are described under the heading “Risk Factors” in NextCure’s most recent Annual Report on Form 10-K and in the Company’s other filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date of this press release, and NextCure assumes no obligation to update any forward-looking statements, even if expectations change. NEXTCURE, INC.CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(unaudited, in thousands, except share and per share amounts) Three Months Ended March 31, 2021 2020 Revenue: Revenue from former research and development arrangement $— $22,378 Operating expenses: Research and development 12,386 10,578 General and administrative 4,848 3,588 Total operating expenses 17,234 14,166 (Loss) income from operations (17,234) 8,212 Other income, net 701 1,521 Net (loss) income $(16,533) $9,733 (Loss) earnings per share: Basic $(0.60) $0.35 Diluted $(0.60) $0.33 Shares used in the calculation of (loss) earnings per share: Basic 27,597,426 27,506,927 Diluted 27,597,426 29,348,615 Comprehensive (loss) income: Net (loss) income $(16,533) $9,733 Unrealized loss on marketable securities (600) (543) Total comprehensive (loss) income $(17,133) $9,190 NEXTCURE, INC.CONDENSED BALANCE SHEETS(unaudited, in thousands, except share and per share amounts) March 31, December 31, 2021 2020Assets Current assets: Cash and cash equivalents $36,527 $32,772 Marketable securities 231,709 250,676 Restricted cash 1,706 1,706 Prepaid expenses and other current assets 3,109 2,824 Total current assets 273,051 287,978 Property and equipment, net 15,470 15,809 Other assets 2,438 2,857 Total assets $290,959 $306,644 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $2,017 $3,901 Accrued liabilities 4,295 4,627 Deferred rent, current portion 209 130 Term loan, current portion 1,667 1,667 Total current liabilities 8,188 10,325 Deferred rent, net of current portion 2,223 792 Term loan, net of current portion 1,389 1,806 Total liabilities 11,800 12,923 Stockholders’ equity: Preferred stock, par value of $0.001 per share; 10,000,000 shares authorized at March 31, 2021 and December 31, 2020; no shares issued and outstanding at March 31, 2021 and December 31, 2020 — — Common stock, par value of $0.001 per share; 100,000,000 shares authorized at March 31, 2021 and December 31, 2020; 27,604,417 and 27,568,802 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively 28 28 Additional paid-in capital 413,122 410,551 Accumulated other comprehensive income 179 779 Accumulated deficit (134,170) (117,637)Total stockholders’ equity 279,159 293,721 Total liabilities and stockholders’ equity $290,959 $306,644 CONTACT: Investor Inquiries Timothy Mayer, Ph.D. NextCure, Inc. Chief Operating Officer (240) 762-6486 IR@nextcure.com Media Inquiries Emily Wong MacDougall (781) 235-3060 NextCure@macbiocom.com
Acquisition of Zikani Therapeutics, Ribosomal Modulation Company; Combined Company Advancing Ribosomal RNA-Targeted Genetic Therapies Additional Treatment Arm Added to Ongoing Phase 2 Clinical Studies for Cystic Fibrosis (CF) Cystic Fibrosis Foundation (CF Foundation) Increases Clinical Trial Funding to Include Europe and Israel ELX-02 Phase 1 Results Published in Multiple Scientific Journals WALTHAM, Mass., May 06, 2021 (GLOBE NEWSWIRE) -- Eloxx Pharmaceuticals, Inc. (NASDAQ: ELOX), a leader in ribosomal RNA-targeted genetic therapies for rare diseases, today reported its financial results for the three months ended March 31, 2021 and provided a business update. “The beginning of 2021 has been transformative for Eloxx and was extremely important in laying the groundwork for the future success of ELX-02, our candidate for cystic fibrosis, and in amplifying the potential of Eloxx’s innovative science and be a leader in RNA-targeted genetic therapies. Our enthusiasm has only increased in the short period since the acquisition,” said Sumit Aggarwal, President and Chief Executive Officer of Eloxx. “We remain incredibly excited by the potential of ELX-02 to help treat CF patients affected by nonsense mutations and look forward to completing enrollment in the first four treatment arms by mid-year, and expect to report data in the second half of 2021.” First Quarter 2021 and Subsequent Highlights We acquired Zikani Therapeutics, Inc., a ribosomal modulation company, in an all stock transaction on April 1, 2021. We believe the acquisition maximizes the potential for ELX-02 for CF, which is currently in Phase 2 development. The acquisition also adds a preclinical stage pipeline in rare diseases and oncology targeting RNA and ribosomal mutations. Eloxx expects to file an Investigational New Drug application for the first oral drug to treat patients with Recessive Dystrophic and Junctional Epidermolysis Bullosa (RDEB and JEB) in 2022. Sumit Aggarwal, former Zikani President and CEO, was appointed President and CEO of Eloxx.As previously announced, the new study arm was added to our global Phase 2 clinical program for ELX-02 for the treatment of CF in patients with at least one G542X allele. The Phase 2 clinical program now includes a fifth treatment arm to evaluate safety of ELX-02 in combination with Kalydeco® (ivacaftor), a FDA-approved CF transmembrane conductance regulator (CFTR) potentiator for the treatment of CF in patients who have at least one mutation in their CF gene amenable to ivacaftor. The Phase 2 trials are designed to evaluate the safety of ELX-02 and assess its biological activity. We remain on track to present data from the first four treatment arms in the second half of this year.The CF Foundation extended its funding of our clinical trial program to include Europe and Israel.Phase 1 results for ELX-02 were published in multiple medical journals, including: “Targeting G542X CFTR Nonsense Alleles with ELX-02 Restores CFTR Function in Human-Derived Intestinal Organoids” in the Journal of Cystic Fibrosis;“A Randomized, Double-Blind, Placebo-Controlled, Multiple Dose Escalation Study to Evaluate the Safety and Pharmacokinetics of ELX-02 in Healthy Subjects” in the journal Clinical Pharmacology in Drug Development; and“Phase 1 Renal Impairment Trial Results Enable Targeted Individualized Dosing of ELX-02 in Nephropathic Cystinosis Patients” in the Journal of Clinical Pharmacology. First Quarter 2021 Financial Results For the three months ended March 31, 2021, we incurred a net loss of $8.7 million or $0.22 per share, which includes $1.3 million in stock-based compensation. For the same period in the prior year, we incurred a net loss of $13.9 million, or $0.35 per share. Our research and development expenses (R&D) were $4.1 million for the three months ended March 31, 2021, which includes $0.2 million in stock-based compensation. For the same period in the prior year, R&D expenses were $4.8 million. The decrease in R&D expenses was driven by reduced expenses related to the development of ELX-02 due to the impact of the COVID-19 and realignment actions taken in February 2020 that included reductions in R&D headcount and external spending. Our general and administrative (G&A) expenses were $4.3 million for the three months ended March 31, 2021, which includes $1.1 million in stock-based compensation. For the same period in the prior year, G&A expenses were $5.0 million. The decrease was primarily driven by realignment actions taken in February 2020 that included reductions in general and administrative headcount and external spending. As of March 31, 2021, we had cash and cash equivalents of $18.2 million, which we expect will be sufficient to fund our operations into the third quarter of 2021. About Eloxx Pharmaceuticals Eloxx Pharmaceuticals, Inc. is engaged in the science of ribosome modulation, leveraging its innovative TURBO-ZMTM chemistry technology platform in an effort to develop novel Ribosome Modulating Agents (RMAs) and its library of Eukaryotic Ribsome Selective Glycosides (ERSGs). Eloxx’s lead investigational product candidate, ELX-02, is a small molecule drug candidate designed to restore production of full-length functional proteins. ELX-02 is in clinical development, focusing on cystic fibrosis. Eloxx also has preclinical programs focused on select rare diseases, including inherited diseases, cancer caused by nonsense mutations, kidney diseases, including autosomal dominant polycystic kidney disease, as well as rare ocular genetic disorders. For more information, please visit www.eloxxpharma.com. Forward-looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of present and historical facts contained in this press release, including without limitation, statements regarding the expected timing of trials and results from clinical studies of our product candidate, the expansion of our clinical trial sites and the potential of our product candidate to treat nonsense mutations are forward-looking statements. Forward-looking statements can be identified by the words “aim,” “may,” “will,” “would,” “should,” “expect,” “explore,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “seeks,” or “continue” or the negative of these terms similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on management's current plans, estimates, assumptions and projections based on information currently available to us. Forward-looking statements are subject to known and unknown risks, uncertainties and assumptions, and actual results or outcomes may differ materially from those expressed or implied in the forward-looking statements due to various important factors, including, but not limited to: our ability to progress any product candidates in preclinical or clinical trials; the uncertainty of clinical trial results and the fact that positive results from preclinical studies are not always indicative of positive clinical results; the scope, rate and progress of our preclinical studies and clinical trials and other research and development activities; the competition for patient enrollment from drug candidates in development; the impact of the global COVID-19 pandemic on our clinical trials, operations, vendors, suppliers, and employees; our ability to obtain the capital necessary to fund our operations; the cost of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; our ability to obtain financial in the future through product licensing, public or private equity or debt financing or otherwise; general business conditions, regulatory environment, competition and market for our products; and business ability and judgment of personnel, and the availability of qualified personnel and other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as any such factors may be updated from time to time in our other filings with the SEC, including our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021, accessible on the SEC’s website at www.sec.gov and the “Financials & Filings” page of our website at https://investors.eloxxpharma.com/financial-information/sec-filings All forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we have no obligation to update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. Contact InvestorsJohn Woolfordjohn.email@example.com MediaLaureen Cassidylaureen@outcomescg.com ELOXX PHARMACEUTICALS, INC. AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands) March 31, 2021 December 31, 2020ASSETS Current assets: Cash and cash equivalents $18,247 $24,668Restricted cash 54 56Prepaid expenses and other current assets 1,659 1,169Total current assets 19,960 25,893Property and equipment, net 117 133Operating lease right-of-use asset 289 421Other long-term assets - 30Total assets $ 20,366 $ 26,477 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $485 $481Accrued expenses 2,917 2,886Current portion of long-term debt 5,562 5,239Advances from collaboration partners 3,411 805Current portion of operating lease liability 280 389Taxes payable 38 38Total current liabilities 12,693 9,838Long-term debt 4,913 6,376Operating lease liability 10 33Total liabilities 17,616 16,247Total stockholders’ equity 2,750 10,230Total liabilities and stockholders’ equity $ 20,366 $ 26,477 ELOXX PHARMACEUTICALS, INC. AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Amounts in thousands, except share and per share data) Three Months Ended March 31, 2021 2020 Operating expenses: Research and development$4,073 $4,767 General and administrative 4,341 5,006 Restructuring charges — 3,994 Total operating expenses 8,414 13,767 Loss from operations (8,414) (13,767)Other expense, net 280 179 Net loss$(8,694) $(13,946) Net loss per share, basic and diluted$(0.22) $(0.35)Weighted average number of shares of common stock used in computing net loss per share, basic and diluted 40,180,131 40,074,275
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.
While Yeferson Soteldo has just one training session with Toronto FC under his belt, the expectations for the 23-year-old Venezuelan international winger are already sky-high. "We think he's the guy that's going to help us win a championship," team president Bill Manning told reporters Thursday from Orlando. "And that's, at the end of the day, what matters for us." "He's going to be an incredible player for this club," added GM Ali Curtis. "This is another statement by our club — the commitment to winning," said coach Chris Armas, whose team is 0-1-1 in the young MLS season. High expectations come hand-in-hand in Major League Soccer with designated-player status and a US$6 million transfer fee — $4 million now and $2 million next year, according to a source granted anonymity because the amount has not been made public. But the five-foot-two, 121-pound Soteldo seems unfazed by such weight on his shoulders. "For me it's an honour to be a designated player but I don't see it as pressure for me," he said through an interpreter. "I've just come to Toronto (FC) to play, enjoy … I just wanted to come to MLS to make history, to be able to win with the team." Soteldo's ease with pressure was demonstrated by the fact that he wore Pele's No. 10 at Brazil's Santos, although he admitted he initially asked the team president for the number as a joke. But he also said that wearing No. 10 had been a dream as a kid. "I think my personality helped just to enjoy having that number," he said. Soteldo, who joined Santos in January 2019, repaid the favour with 20 goals and 17 assists in 104 games for the club. With Spanish playmaker Alejandro Pozuelo wearing No. 10 in Toronto, Soteldo will revert to No. 30 — the number he wore with his hometown club Zamora FC for whom he debuted at age 16. Armas said Soteldo could see action Saturday in Toronto's road game against the New York Red Bulls. The Venezuelan last played April 20 for Santos against Ecuador's Barcelona in the 2021 Copa Libertadores group stage. Soteldo is shifty and elusive, able to torment defenders with his close control. While he normally plays on the left, he can also cause damage with his right foot. "A player … that is going to put you on the edge of your seat," said Armas. "Every time he gets the ball, something's going to happen." Curtis says he will add to the attack while fitting into Armas' aggressive pressing style when the other team has the ball. "He's a dynamic attacking player … We were looking to really add a whole lot more dimension to what we're doing in the attacking third," said Curtis. "And also we wanted players that when they don't have the ball, they're attacking their opponent in the same way when they have the ball." "It should be exciting. He's powerful, he's explosive. You'll be able to see that from Day 1," he added. "And (he'll) help us create more attacking chances that gives us an opportunity to win games and to win trophies." Soteldo will add to TFC's creativity while making it more difficult for opponents to focus solely on Pozuelo, the reigning MLS MVP. "He and Pozuelo have very high soccer IQ's," said Manning. Soteldo, who is signed through 2025, arrived in Florida on April 28. Because he flew from Brazil, he had to serve a seven-day quarantine mandated by the CDC (Centers for Disease Control and Prevention). Soteldo comes with top credentials. He was named to the 2020 Conmebol Copa Libertadores Best XI and, according to numbers provided by TFC, has scored 57 goals and added 64 assists in 269 club games to date. After winning three Venezuelan League titles (2014, 2015 and 2016) with Zamora, Soteldo signed with Chile's Club Deportivo Huachipato. He was loaned to Universidad de Chile in 2018. Soteldo has earned 19 caps for Venezuela and was a member of the youth team that finished second at the FIFA U-20 World Cup in 2017. He shares an agent with Atlanta United star striker Josef Martinez and Toronto's Erickson Gallardo, both fellow Venezuelans. Manning and Curtis said they are still learning about Soteldo the person, although they say the young father of three ticked all the boxes when it came to references on and off the field. Curtis called him a "young man with a lot of belief in himself" who "wants to prove himself in this league." "He has got a good heart. He's a good young man. And that's important, whether you're bringing in a player or whether you're bringing in a staff member. We've made that very clear that that's our North Star at this club." Curtis said Soteldo has been on TFC's radar for some time. The club was also looking at other talent, including Colombian forward Rafael Santos Borre. Under MLS rules, only $612,500 of a senior designated player's salary counts against the team's $4.9-million salary cap budget. In 2019, the last figures released by the MLS Players Association, Toronto's three designated players ranked No. 2 (Michael Bradley, $6.5 million), No. 3 (Jozy Altidore, $6.33 million) and No. 7 (Pozuelo, $3.8 million) among MLS players in pay. Bradley has since signed a new non-DP contract, opening up a space that was used last season by Argentine Pablo Piatti — who is now in Spain with Elche CF — and Soteldo. --- Follow @NeilMDavidson on Twitter This report by The Canadian Press was first published May 6, 2021 Neil Davidson, The Canadian Press
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 […]
WINNIPEG, Manitoba, May 06, 2021 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF) The board of directors (the “Board”) of NFI Group Inc. (“NFI”), a leader in zero-emission electric mobility solutions, is pleased to announce that the ten nominees listed in the management information circular dated March 19, 2021, were elected as Directors of NFI. The detailed results of the vote for the election of Directors held at the annual meeting of shareholders (the “Meeting”) held today are set out below. Name of NomineeVotes For% ForVotes Withheld% WithheldPhyllis Cochran40,834,10999.64147,1320.36Larry Edwards40,274,66698.28706,5751.72Adam Gray40,576,86799.01404,3740.99Krystyna Hoeg40,678,40599.26302,8360.74John Marinucci40,815,39199.60165,8500.40Paulo Cezar da Silva Nunes39,684,66696.841,296,5753.16Colin Robertson40,731,80899.39249,4330.61Paul Soubry40,861,51599.71119,7260.29The Honourable Brian Tobin40,029,49397.68951,7482.32Katherine Winter40,261,85398.24719,3881.76 Final voting results on all matters voted on at the Meeting will be available at www.nfigroup.com and will be filed with the Canadian securities regulators and available on SEDAR at www.sedar.com. About NFILeveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, technology, and workforce development, NFI meets today’s urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation. With 8,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motor coaches), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 105,000 buses and coaches around the world. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, www.arbocsv.com, www.alexander-dennis.com, and www.nfi.parts. For investor inquiries, please contact:Stephen KingP: 204.224.6382Stephen.King@nfigroup.com
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