Stockwinners Market Radar for August 09, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:39 EDT Lockheed Martin awarded $176.34M Navy logistics contract - Lockheed Martin has been awarded a $176.34M firm-fixed-priced, performance-based logistics contract for the repair of 1,672 different head-of-family part numbers in support of the AEGIS SPY-1 weapon system. The contract is a five-year contract with no option periods. Work will be performed in Moorestown, New Jersey and is expected to be completed by August 2024. No funds are obligated at the time of award. Working capital funds will be obligated as individual task orders are issued and funds will not expire at the end of the current fiscal year. One company was solicited for this sole-source, non-competitive requirement pursuant to the authority set forth in 10 U.S. Code 2304 and in accordance with Federal Acquisition Regulation 6.302-1, with one offer received. Naval Supply Systems Command is the contracting activity.

17:29 EDT Allscripts to pay $145 to resolve civil, criminal probes into Practice Fusion - In a regulatory filing, Allscripts said that Practice Fusion, which the company acquired on February 13, 2018, received in March 2017 a request for documents and information from the U.S. Attorney's Office for the District of Vermont pursuant to a CID. Between April 2018 and June 2019, Practice Fusion received from the U.S. Department of Justice seven additional requests for documents and information through four additional CIDs and three Health Insurance Portability and Accountability Act subpoenas. The document and information requests received by Practice Fusion related to both the certification Practice Fusion obtained in connection with the U.S. Department of Health and Human Services' Electronic Health Record Incentive Program and Practice Fusion's compliance with the Anti-Kickback Statute and HIPAA as it relates to certain business practices engaged in by Practice Fusion. In March 2019, Practice Fusion received a grand jury subpoena in connection with a criminal investigation related to Practice Fusion's compliance with the Anti-Kickback Statute. On August 6, 2019, Practice Fusion reached an agreement in principle with the DOJ to resolve all of the DOJ's outstanding civil and criminal investigations, including the investigation by the U.S. Attorney's Office for the District of Vermont. The terms of this agreement in principle, which is subject to final negotiation of settlement documents with the government, contemplate that Practice Fusion will pay $145M and enter into a deferred prosecution agreement and a civil settlement agreement. Other non-financial terms and conditions remain subject to negotiation, and the terms described above may change following further negotiation. The agreement in principle and the final settlement materials are subject to approval of supervisory personnel within the DOJ. The proposed settlement amount is included in Other loss, net within the consolidated statements of operations and Accrued expenses within the consolidated balance sheets as of and for the three months ended June 30, 2019.

17:17 EDT InnerWorkings enters cooperation agreement with Engaged Capital - InnerWorkings announced that it has entered into a cooperation agreement with Engaged Capital. As part of the cooperation agreement, the company has added two new independent directors, Kirt P. Karros and Marc Zenner, to the board effective immediately.

17:06 EDT Immersion Capital reports 10.91% passive stake in Eventbrite - Immersion Capital disclosed a 10.91% stake in Eventbrite, which represents over 3.95M shares. The filing does not allow for activism.

16:39 EDT U.S.DOE awards grant to ComEd, others to advance 'energy internet' - The U.S. Department of Energy's Office of Science has awarded a $1.05M grant to energy company ComEd, the University of Denver, Virginia Tech and software specialist BEM Controls to create an energy internet that will enhance building energy management and benefits to occupants. The award provides funding to commercialize a blockchain-based transactive energy platform developed by BEM Controls with funding from the DOE. Blockchains use multiple servers that operate like decentralized record-keeping and verification systems. They are seen as a promising solution for energy companies bringing more distributed energy resources onto their systems and creating marketplaces offering an array of Internet of Things devices and innovative energy services. The BEM Controls software incorporates time-based energy management and control of interior spaces in buildings to achieve greater energy efficiency, reliability and resiliency. ComEd will use its Grid of the Future Lab to demonstrate the functionality of the system, which will be developed over three years. ComEd is a unit of Exelon Corporation.

16:30 EDT Artisan Partners reports AUM of $114B as of July 31 - Artisan Partners Asset Management Inc. reported that its assets under management as of July 31, 2019 totaled $114B. Separate accounts accounted for $59.8B of total firm AUM, while Artisan Funds and Artisan Global Funds accounted for $54.2B.

16:15 EDT Badger Meter raises quarterly dividend 13% to 17c from 15c per share - The increased dividend is payable September 13 to shareholders of record on August 30.

16:12 EDT Haverty Furniture raises quarterly dividend to 20c from 18c per share - The dividend is payable on September 11, 2019 to stockholders of record at the close of business on August 26, 2019.

16:09 EDT Correction: Amgen 'pleased' with decision in Sandoz patent case

16:04 EDT Quotient Technology authorizes new $50M share repurchase program - Quotient Technology's board has authorized a stock buyback program of up to $50.0M of the company's common stock, effective August 9, 2019, through a new 10B5-1 plan that expires on August 7, 2020.

15:49 EDT Amgen up over 5% after Enbrel patent upheld by court - Shares of Amgen (AMGN) have risen in afternoon trading after a United States District Court judge in New Jersey ruled in the company's favor in a patent fight with Novartis' (NVS) Sandoz unit over the drug Enbrel. The judge found that the patents-in-suit are not invalid, according to a copy of the ruling posted to the court's website. In afternoon trading following the release of the ruling, shares of Amgen are up over 5% to $195.16.

14:55 EDT Carbon Black up 5%, strength attributed to sale exploration report - Shares of Carbon Black are up 5% in afternoon trading. The strength is being attributed to a report from M&A focused publication CTFN, which is saying that the company is exploring a sale and has hired bankers, according to contacts.

13:42 EDT National Grid says power outages in U.K. areas now resolved - National Grid said via Twitter, "We experienced issues with two power generators causing loss of power in selected UK areas. The issue is now resolved and the system has returned to normal. Anyone continuing to experience a local issue should contact their local Distribution Network Operator for assistance."

13:03 EDT Baker Hughes reports U.S. rig count down 8 to 934 rigs - Baker Hughes reports that the U.S. rig count is down 8 rigs from last week to 934, with oil rigs down 6 to 764, gas rigs down 2 to 169, and miscellaneous rigs unchanged at 1. The U.S. Rig Count is down 123 rigs from last year's count of 1,057, with oil rigs down 105, gas rigs down 17, and miscellaneous rigs down 1 to 1. The U.S. Offshore Rig Count is up 1 rig to 25 and up 5 rigs year-over-year. The Canada Rig Count is up 3 rigs from last week to 140, with oil rigs up 3 to 94 and gas rigs unchanged at 46. The Canada Rig Count is down 69 rigs from last year's count of 209, with oil rigs down 46 and gas rigs down 23.

12:04 EDT ESPN delays 'Apex Legends' event broadcast in response to mass shootings - Esports and gaming consultant Rod "Slasher" Breslau said via Twitter, "ESPN and ABC (DIS) has made the decision not to air the TV broadcast of the XGames Apex Legends (EA) EXP Invitational that was scheduled for this weekend, in response to the recent mass shootings, according to an ABC Affiliate TV station source." Breslau posted an email addressed to "ABC Affiliate" which said that, out of "respect for the victims and all those impacted by the recent shootings, ABC will no longer air "EXP Invitational APEX Legends at X Games" on Sunday, August 11. According to the email, an official booking will be issued shortly. Reference Link

12:00 EDT Conduent falls -34.2% - Conduent is down -34.2%, or -$2.96 to $5.70.

11:01 EDT Zion Oil & Gas signs geophysical services agreement with AGS - In a regulatory filing, Zion Oil & Gas disclosed that it has signed a Geophysical Services Agreement For the Acquisition of 3-D Seismic Data on August 8, 2019 with Acoustic Geophysical Services KFT, an international geophysical company based in Budapest, Hungary. AGS has acquired over 8,200 square kilometers of 3-D seismic data along with in excess of 7,500 square kilometers of 2-D seismic data in central and eastern Europe and Turkey over the last eight years. In addition, AGS has logged over 4,828,650 exposure hours to date and 2,197,050 hours without a lost time incident. Shipping arrangements have been made, and the trucks and equipment are expected to arrive at the port of Haifa, Israel by the end of August 2019. The equipment will need to clear customs in Haifa, and barring any unforeseen circumstances, should be on location on the License in early September. Zion's 3-D seismic project is considered to be the largest high-density 3-D seismic acquisition acquired to date in onshore Israel. Pre-approval by the Ministry of Transport in Israel is required before the importation of seismic source vehicles into Israel. The reports that it received that approval from the Ministry on August 2, 2019.

10:04 EDT Mattel discloses that it received anonymous whistleblower letter - In a regulatory filing, Mattel disclosed that on August 6 it was made aware of an anonymous whistleblower letter. The company added that in order "to provide the company with an opportunity to investigate the matters set forth in the letter, the offering of the company's 6.00% senior notes due 2027 that was scheduled to close on August 8, 2019 has been terminated. The company intends to refinance its 4.350% Senior Notes due October 2020 prior to maturity." In morning trading, shares of Mattel are down over 11% to $11.95.

10:00 EDT DXC Technology falls -30.7% - DXC Technology is down -30.7%, or -$15.88 to $35.77.

10:00 EDT Yelp rises 11.6% - Yelp is up 11.6%, or $4.04 to $38.99.

10:00 EDT Nevro rises 18.9% - Nevro is up 18.9%, or $11.96 to $75.30.

09:47 EDT Nevro rises 9.1% - Nevro is up 9.1%, or $5.74 to $69.08.

09:47 EDT Callaway Golf rises 12.2% - Callaway Golf is up 12.2%, or $2.14 to $19.68.

09:30 EDT Kaleido Biosciences Inc trading halted, volatility trading pause

09:19 EDT Aptevo Therapeutics to file CTA in Q4 for ALG.APV-527 - The company said, "Continued preparations to file a Clinical Trial Authorization in Q4 2019 for ALG.APV-527, Aptevo's 4-1BB x 5T4 bispecific antibody candidate partnered with Alligator Bioscience."

09:16 EDT Aptevo Therapeutics expects preliminary data from APVO210 MAD study in 1Q20 - The company said, "Commenced a multiple ascending dose Phase 1 clinical study of APVO210 evaluating repeat administrations of APVO210 administered by intravenous injection; anticipate preliminary data read-out from the MAD study in Q1 2020."

09:11 EDT Aptevo Therapeutics reaffirms 2019 cash burn guidance $36M-$40M - Jeff Lamothe, CFO, said, "We are also pleased to reaffirm our 2019 cash burn guidance of $36-40 million. The first half of the year included planned significant expenditure related to a multi-batch IXINITY manufacturing campaign and clinical trial initiation costs, including preparatory work for the upcoming IXINITY pediatric trial. The second half of the year will see our burn rate moderate significantly."

09:08 EDT Eagle Bancorp Montana to acquire Western Holding Company of Wolf Point - Eagle Bancorp Montana announced that it has reached an agreement to acquire Western Holding Company of Wolf Point, and its wholly owned subsidiary, Western Bank of Wolf Point. Opportunity Bank's acquisition of the $100 million in assets Western, which is structured as a 50% cash and 50% stock deal, will further solidify its position as the fourth largest Montana based bank with approximately $1.10 billion in assets. Western currently operates one branch in Wolf Point and the acquisition will provide Opportunity with an additional $100 million in assets, $77 million in deposits, and $41 million in gross loans, based on June 30, 2019 information. Opportunity Bank will have, upon completion of the transaction, 22 retail branches in Montana. The board of directors for both companies unanimously approved the transaction, which is subject to the approvals of bank regulatory agencies, the shareholders of Western Holding Company of Wolf Point, and other customary closing conditions. Upon completion of the transaction, Duane Kurokawa, currently President of Western Holding Company of Wolf Point, will lead the new branch efforts in northeastern Montana. Under the terms of the definitive agreement signed by the parties, Western Holding Company of Wolf Point shareholders will receive an aggregate of 395,859 shares of Eagle common stock and $6.5 million in cash, for a total transaction value of approximately $13.0 million. The deal is expected to close during the fourth quarter of 2019. Eagle was represented by Nixon Peabody LLP and Panoramic Capital Advisors, Inc. while Western Holding Company of Wolf Point was represented by Ballard Spahr LLP and Vining Sparks, IBG, LP.

09:06 EDT Gap announces 12-year VPPA agreement to reduce emissions - Gap announced that it has signed a 90 Megawatt, or MW, virtual power purchase agreement, or VPPA, for the Aurora Wind Project with Enel Green Power North America. The 12-year agreement is Gap's latest renewable energy deal and will enable the company to reach its 2020 goal to reduce absolute Scope 1 and 2 greenhouse gas, or GHG, emissions for its owned and operated facilities by 50% compared to 2015. The company also announced it has set a goal to reach 100% renewable energy across its global owned and operated facilities by 2030. Gap operates more than 3,300 stores worldwide, however the vast majority of its distributed store fleet are leased sites located in buildings and malls owned by landlords, limiting the company's ability to implement onsite renewable energy assets. The agreement with Enel Green Power allows Gap to meet its renewable energy goal by aggregating its distributed electricity load in the U.S. and purchasing wind energy equivalent to the energy needs of over 1,500 retail stores in its global real estate portfolio. The agreement provides benefits both to the local grid by adding new clean generation, while also stabilizing operating costs for Gap in the face of fluctuating energy prices. The wind electricity output purchased by Gap from the 90 MW portion of Enel Green Power's 299 MW Aurora project is expected to total approximately 374 gigawatt hours, or GWh, each year. It will reduce GHG emissions equivalent to the carbon reduction of removing 60,000 passenger cars from the road annually. In addition to meeting its 2020 Scope 1 and 2 GHG emissions-reduction goal, Gap is also establishing a Scope 3 goal to reduce upstream and downstream emissions, including in its supply chain. The company has committed to setting a science based target, including addressing Scope 3 emissions, which will be announced later this year. This announcement is the third renewable energy contract signed by Gap.

09:03 EDT OceanFirst announces merger agreements with Two River, Country Bank Holding - OceanFirst Financial (OCFC) announced the concurrent signing of two separate definitive merger agreements. Under one agreement, Two River Bancorp (TRCB), parent company of Two River Community Bank, headquartered in Tinton Falls, New Jersey, will merge into OceanFirst. Upon completion of the Two River merger, Two River Community Bank will merge into OceanFirst Bank. Under the other agreement, Country Bank Holding Company, parent company of Country Bank, headquartered in New York, New York, will merge into OceanFirst. Upon completion of the CYHC merger, Country Bank will merge into OceanFirst Bank. Based on June 30, 2019 results and the impact of purchase accounting, the combined company is expected to have pro forma approximately $9.9 billion in assets, $7.5 billion in loans and $7.7 billion in deposits. The proposed acquisition of CYHC would expand OceanFirst's retail branch footprint into metropolitan New York. The two transactions combined are expected to result in approximately 8% earnings per share accretion in 2021, the first full year of fully phased-in synergies, and approximately 5% tangible book value per share dilution at closing with a projected earnback period of less than 4 years using the cross-over method. Founded in 2000, Two River is a full-service community bank operating 14 branch locations and 2 loan production offices in Monmouth, Ocean, Union and Essex Counties. At June 30, 2019, Two River had $1.2 billion in assets, $953.1 million in loans, $972.6 million in deposits and $121.4 million in shareholders' equity. Under the terms of the Two River merger agreement, upon completion of the merger, shareholders of Two River will be entitled to receive 0.6663 shares of OceanFirst common stock and $5.375 in cash for each outstanding share of Two River common stock. Based on OceanFirst's closing stock price on August 8 of $23.14, the Two River transaction is valued at approximately $20.79 per Two River common share or approximately $182.8 million in the aggregate.CYHC was founded in 1988 and provides banking services to small businesses and individuals through its network of five Country Bank branches located in the metropolitan New York market. At June 30, 2019, CYHC had $783.4 million in assets, $592.4 million in loans, $649.7 million in deposits and $67.5 million in shareholders' equity. Under the terms of the CYHC merger agreement, upon completion of the merger, shareholders of CYHC will be entitled to receive 2,000 shares of OceanFirst common stock for each outstanding share of CYHC common stock. Based on OceanFirst's closing stock price on August 8 of $23.14, the CYHC transaction is valued at approximately $46,280.00 per CYHC common share or approximately $102.2 million in the aggregate. Each of the Two River and CYHC merger agreements have been unanimously approved by the OceanFirst Board of Directors. The Two River Board of Directors has unanimously approved the Two River merger agreement. The Two River merger is expected to close in the first quarter of 2020, subject to Two River receiving the requisite approval of its shareholders, receipt of all required regulatory approvals, and fulfillment of other customary closing conditions. The CYHC Board of Directors has unanimously approved the CYHC merger agreement. The CYHC merger is expected to close in the first quarter of 2020, subject to CYHC receiving the requisite approval of its shareholders, receipt of all required regulatory approvals

08:58 EDT Cocrystal expects to report interim results for Phase 2a study of CC-31244 in Q4 - The company said, "Expected Near-Term CC-31244 Clinical Program Milestones Report interim safety results for Hong Kong Phase 2a study in Q4 2019. Complete patient enrollment in Hong Kong Phase 2a study and report topline results in Q1 2020. Advance discussions with potential strategic partners to secure development and commercialization licensing agreement."

08:55 EDT Two River Bancorp trading halted, news pending

08:51 EDT General Cannabis enters into term sheet for acquisition of cultivator, retailer - General Cannabis announced that it has entered into a non-binding term sheet to acquire substantially all of the assets of a licensed recreational cannabis cultivator and retailer in Denver, Colorado. The seller of the Business operates two indoor cultivation facilities and a retail cannabis dispensary in central Denver to manage the Business. This potential transaction follows the Company's recent announcements of its entry into non-binding term sheets to acquire other licensed cannabis entities in Colorado. The Company is taking these actions based on the signing of Colorado House Bill 1090, a recently approved law allowing public companies to own Colorado-licensed cannabis companies. Once the regulations surrounding the implementation of the law are finalized, the Company plans to enter into a binding transaction for the Business. It is anticipated that General Cannabis will pay consideration consisting of sixty percent cash and 40% in shares of the Company's common stock for virtually all of the tangible and intangible assets of the Business. The number of common shares issued at closing will be determined based on the 30-day volume weighted average price. The term sheet also provides that the Company will enter into a five-year lease for the retail and cultivation co-located facility with options for renewal and purchase.

08:46 EDT PG&E says not providing guidance due to uncertainty related to wildfires - At this time, PG&E is not providing guidance for 2019 GAAP earnings and non-GAAP earnings from operations due to the continuing uncertainty related to the 2018 Camp fire, the 2017 Northern California wildfires, the Chapter 11 proceedings, and legislative and regulatory reforms. PG&E Corporation is providing 2019 IIC guidance of $3.8B-$4.1B after-tax for costs related to the 2017 Northern California wildfires, the 2018 Camp fire, enhanced and accelerated electric asset inspections, and Chapter 11-related matters.

08:44 EDT Gemphire Therapeutics expects NeuroBo merger to close in 2H19 - The company said, "Immediately following the merger, Gemphire security holders are expected to own 4.06% of the post-merger company and NeuroBo security holders are expected to own 95.94% of the post-merger company on a fully-diluted basis. Pre-closing financing by NeuroBo with approximately $24 million of gross proceeds already received. The merger includes contingent value rights for existing Gemphire stockholders entitling them to receive certain cash payments in the event the gemcabene assets are sold or licensed during the CVR period. The post-merger company will be led by John L. Brooks, III, President & CEO of NeuroBo, and the post-merger Board of Directors will be 6 directors, including Steven Gullans, Ph.D., Gemphire's current President & CEO. The merger is expected to close in the second half of 2019, subject to the approval of the stockholders of each company, as well as other closing conditions."

08:43 EDT Gemphire Therapeutics expects resources to fund operations into 3Q19 - The company said, "At June 30, 2019, the company had cash and cash equivalents of approximately $3.6 million. Based on current projections, the Company believes it has sufficient resources to fund operations into the third quarter of 2019. Management believes, if the proposed merger is not consummated in a timely fashion, Gemphire would need to raise additional capital to continue its operations thereafter, including submission of the additional information requested by the FDA to make a decision regarding lifting the partial clinical hold. Additional financing may not be available in a timely manner, on favorable terms or at all."

08:40 EDT Gulf Resources says Subdivision of Factory #1 has not yet re-opened - On April 2 and April 11, 2019, Gulf Resources inadvertently announced that Subdivision of Factory #1 was approved to re-open and begun operation respectively. This announcement should have reflected that Factory #1 was back online and begun production. Factory #1 is one of the primary drivers of operations for Company in the area and has 6,442 acres, compared to 0.79 acres used by the Subdivision of Factory #1, and annual capacity of 6,681 tonnes, compared to the 3,186 tonnes of annual capacity that the Subdivision of Factory #1 has. The Subdivision of Factory #1 utilizes the resources of the land of Factory #1, however as of today's date, it has not yet re-opened. The Company believes it will receive approval to begin production at this factory in the relatively near future. Below are details about each factory.

08:35 EDT Gilead announces China NMPA approval for Biktarvy - Gilead announced that the China National Medical Products Administration, or NMPA, has approved Biktarvy, a once-daily single tablet regimen, or STR, for the treatment of HIV-1 infection. Biktarvy combines the novel, unboosted integrase strand transfer inhibitor, or INSTI, bictegravir with the demonstrated safety and efficacy profile of the Descovy dual nucleoside reverse transcriptase inhibitor, or NRTI, backbone and is the smallest INSTI-based triple-therapy STR available. In China, Biktarvy is indicated for the treatment of HIV-1 infection in adults without present or past evidence of viral resistance to the integrase inhibitor class, emtricitabine or tenofovir. The approval of Biktarvy is supported by data from four ongoing Phase 3 studies: Studies 1489 and 1490 in treatment-naive HIV-1 infected adults, and Studies 1844 and 1878 in virologically suppressed adults. The trials are comprised of a diverse population of 2,414 participants on Biktarvy or an active comparator regimen, including a wide range of adult age groups and races/ethnicities. Biktarvy met its primary efficacy objective of non-inferiority at 48 weeks across all four studies. Through 48 weeks, no participants in any of the four studies developed treatment-emergent virologic resistance while taking Biktarvy, and no patients discontinued Biktarvy due to renal, bone or hepatic adverse events. The most common adverse reactions in patients taking Biktarvy through 48 weeks were diarrhea, nausea and headache.

08:33 EDT GAIN Capital reports July operating metrics - In the retail segment in July, OTC Trading Volume was down 1.4% sequentially and down 25.5% y/y. OTC Average Daily Volume was down 14.5% sequentially and down 28.9% y/y. 12 Month Trailing Active OTC Accounts were down 0.6% sequentially and were down 10.2% y/y. 3 Month Trailing Active OTC Accounts were up 1.4% sequentially and down 8.9% y/y.

08:30 EDT VBI Vaccines expects initiation of enrollment in Phase 2 study in Q4 - The company said, "As part of the collaboration with Brii Biosciences, work is underway to prepare regulatory filings to enable the expected initiation of enrollment in the Phase 2 study in subjects with chronic hepatitis B in the fourth quarter of 2019, which would thus provide an expected initial human proof-of-concept readout in the second half of 2020."

08:26 EDT Sonic Foundry CFO Ken Minor to retire - Sonic Foundry announced CFO Ken Minor will retire effective Oct. 1 after 22 years with the company. Minor will continue to serve as a consultant for Sonic Foundry as Interim Chief Financial Officer until a transition of his duties are complete and will continue as a Senior Financial Advisor through Sept. 30, 2020. Minor joined Sonic Foundry in 1997 and prior to that was VP and Treasurer for Fruehauf Trailer Corporation. Sonic Foundry has no current plans to directly replace Minor. His responsibilities will be absorbed in-house by the company's accounting and finance teams, allowing for the reduction of operating expenses.

08:21 EDT Aerohive trading halted, news dissemination

08:11 EDT Ubiquiti announces name change, transfer to NYSE from Nasdaq - Ubiquiti will change its corporate name to Ubiquiti Inc. and transfer its common stock to the New York Stock Exchange, or NYSE, from the Nasdaq. The company's common stock has been authorized for listing and is scheduled to begin trading on the NYSE on August 20, under the new trading symbol (UI). At the close of business on August 19, the company will legally change its name to Ubiquiti Inc. The last trading day on Nasdaq under the name Ubiquiti Networks and the (UBNT) symbol is expected to be August 19.

08:05 EDT Aquinox Pharmaceuticals, Neoleukin Therapeutics complete merger transaction - Neoleukin Therapeutics announced the completion of the previously disclosed merger transaction with Aquinox Pharmaceuticals. Aquinox Pharmaceuticals, Inc. will be renamed Neoleukin Therapeutics, Inc. and will trade under the new ticker symbol "NLTX" beginning on Monday, August 12, 2019, on the Nasdaq Global Market. Following the close of the transaction, and after giving effect to conversion of preferred shares into common subject to a stockholder vote, there are expected to be 38.3 million total shares of common stock outstanding. The corporate headquarters are now located in Seattle, Washington at Neoleukin's existing facility. As of June 30, 2019, after giving effect to the merger, including merger-related expenses, the company has approximately $65M in cash and cash equivalents, which it believes will be sufficient to fund operations through 2021.

08:03 EDT Wesco Aircraft to be acquired by Platinum Equity affiliate for $1.9B - Wesco Aircraft Holdings (WAIR) announced that it has entered into a definitive merger agreement to be acquired by an affiliate of Platinum Equity in a transaction valued at approximately $1.9B. Upon closing, Wesco will be combined with Platinum Equity portfolio company Pattonair, a provider of supply chain management services for the aerospace and defense industries based in the United Kingdom. Under the agreement, which has been unanimously approved by Wesco's Board of Directors, Wesco shareholders would receive $11.05 per share in cash. The cash purchase price represents a premium of approximately 27.5 percent to the 90-day volume weighted average share price for the period ended May 24, 2019, the last trading day prior to media speculation regarding a potential transaction involving Wesco Aircraft.Wesco's three largest shareholders, affiliates of The Carlyle Group (CG) and Makaira Partners, as well as the Snyder Family Trusts, support the transaction and have entered into voting and support agreements to vote their shares in favor of the transaction. The transaction will be financed through a combination of committed equity financing provided by affiliates of Platinum Equity Capital Partners IV, L.P., as well as debt financing that has been committed to by Bank of America Merrill Lynch. The transaction is expected to be completed by the end of calendar 2019 and is subject to Wesco shareholder approval, regulatory clearances and other customary closing conditions. Upon the completion of the transaction, Wesco will become a privately held company, and shares of its common stock no longer will be listed on any public market.

07:58 EDT Progenics expects data from Phase 3 CONDOR trial by year end - The company said, "Patient enrollment for the Phase 3 CONDOR trial, evaluating the diagnostic performance and clinical impact of PyL was completed five months ahead of schedule. The Phase 3 CONDOR trial is a multi-center, open label trial that enrolled 208 male patients with biochemical recurrence of prostate cancer at 14 sites in the U.S. and Canada. Based on discussions with the FDA, Progenics believes that positive data from the CONDOR study and the previously reported OSPREY study could serve as the basis for a New Drug Application for PyL."

07:54 EDT TG Therapeutics to initiate rolling NDA submission for patients with treated MZL - The company noted remaining 2019 and early 2020 milestones, "Initiate a rolling New Drug Application submission for patients with previously treated MZL; Present final data from the MZL cohort of the UNITY-NHL registration directed trial evaluating umbralisib in MZL; Potential top-line progression free survival results from the Phase 3 UNITY-CLL trial evaluating U2 in patients with CLL; Present updated data from our pipeline products and combination studies at upcoming major medical conferences."

07:43 EDT Avadel Pharmaceuticals on track to complete REST-ON enrollment in 2H20 - The company said, "The REST-ON clinical trial has enrolled 183 patients, which is 69% of the total 264 target enrollment for the study; based on current trends, the Company remains on-track to complete enrollment in the second half of 2020."

07:38 EDT Diplomat Pharmacy CEO says 'we continue to believe in our business model' - Brian Griffin, Chairman and CEO of Diplomat, commented "We continue to believe in our business model and long-term prospects and we remain encouraged by our pipeline for 2020, despite our reduced guidance for 2019. We are pleased that infusion therapies continue to demonstrate strength and we are taking actions to improve our core specialty pharmacy business, rebuild our PBM and enhance our financial flexibility. At the same time, our Board has concluded that a broad review of strategic alternatives is in the best interests of the Company and our shareholders. While this is taking place, we intend to maintain our focus on executing our strategic plan, improving our businesses and supporting our shareholders, patients and their providers, payers, as well as our manufacturer partners and our employees."

07:31 EDT Diplomat Pharmacy announces review of strategic alternatives - Diplomat Pharmacy announced that its Board of Directors is reviewing strategic alternatives. At the direction of its Board of Directors, the company is reviewing strategic alternatives focused on maximizing shareholder value. The strategic alternatives expected to be considered include, but are not limited to, a sale or merger of the company, continuing to pursue value-enhancing initiatives as a standalone company, capital structure changes, or the sale or other disposition of certain of the company's businesses or assets. Diplomat has retained Foros Securities LLC as financial advisor and Sidley Austin LLP as legal advisor to assist with its strategic alternatives review. "We are focused on growing our Specialty business with health plans and hospital systems, positioning the PBM business for growth and improving operating efficiency, while maintaining high standards of patient and customer care," said Brian Griffin, Chairman and CEO of Diplomat. "At the same time, the Board believes that a broad review of strategic alternatives is in the best interests of the Company and our shareholders."

07:23 EDT Axovant expects data from patients dosed with AXO-AAV-GM1 in Q4 - The company said, "Dosed first patient in the AXO-AAV-GM1 clinical program, with initial data expected in the fourth quarter of calendar 2019. Enrollment of patients will continue throughout calendar 2019 and 2020."

07:21 EDT Tribune Media CEO says Q2 results 'strong' - "Tribune Media's second quarter financial results were strong thanks to continued year-over-year growth in core advertising, digital advertising and retransmission revenues; all of which largely offset the anticipated decline in political advertising revenue during the quarter," said Peter Kern, Tribune Media Company's CEO. "In addition to the revenue growth in these areas, we were able to keep a tight grip on our cost structure. As a result, total expenses, excluding the expected increase in network affiliate fees from the Fox renewal last year, were down on a year-over-year basis. Our second quarter results reflect the great work that continues to be done by our employees in advance of our pending transaction with Nexstar Media Group-we're very proud of their tremendous dedication. We look forward to obtaining regulatory approval of the transaction soon and remain on track to close before the end of the third quarter."

07:19 EDT CannTrust announces withdrawal of auditor's report - CannTrust Holdings announced that the company's independent auditor, KPMG LLP, Chartered Professional Accountants, has informed the company that effective August 8, it is withdrawing its report dated March 27, on the company's consolidated financial statements as at and for the year ended December 31, 2018 and its interim report to the Audit Committee dated May 13, 2019 on the unaudited condensed interim consolidated financial statements as at and for the three month period ended March 31, and therefore, the KPMG reports should no longer be relied upon. KPMG remains CannTrust's independent auditor. The company's cooperation with KPMG is being directed by the company's Audit Committee and a special committee of its board of directors which is conducting an ongoing investigation into various matters. As previously disclosed, Management is of the view that there is significant uncertainty with respect to the potential impact of pending Health Canada decisions on the valuation of the Company's inventory and biological assets and revenue recognition. Accordingly, CannTrust cautions against any reliance on its consolidated financial statements as at December 31, 2018 and interim consolidated financial statements as at and for the three month period ended March 31, 2019. CannTrust is continuing to cooperate with Health Canada and the impact of the matters being investigated by the Special Committee on CannTrust's financial results is unknown at this time. Further updates, to the extent material, will be provided as they become available. KPMG's decision was prompted by the company's caution against reliance on its financial statements for the year ended December 31, 2018 and for the three months ended March 31, 2019, as well as the recent sharing with KPMG of newly uncovered information from the Special Committee's investigation, including information that led to senior leadership changes announced on July 25, 2019. KPMG was not aware of the information recently shared by the company when it issued the KPMG Reports and had relied upon representations made by individuals who are no longer at the company. "We will continue cooperating with our auditor and regulators, and take whatever steps are necessary to restore full trust in the company's regulatory compliance. Our medical patients, customers, shareholders and employees deserve nothing less", said Robert Marcovitch, the company's CEO.

07:07 EDT AstraZeneca announces overall survival data from FLAURA trial - AstraZeneca announced overall survival, or OS, results from the Phase III FLAURA trial, a randomized, double-blinded, multicenter trial of Tagrisso in previously-untreated patients with locally-advanced or metastatic non-small cell lung cancer, or NSCLC, whose tumors have epidermal growth factor receptor, or EGFR, mutations. Tagrisso showed a statistically-significant improvement in OS, a secondary endpoint in the FLAURA Phase III trial, compared with erlotinib or gefitinib both of which were previous standard-of-care treatments in this setting. The FLAURA trial met its primary endpoint in July 2017, showing a statistically-significant and clinically-meaningful improvement in progression-free survival, increasing the time patients lived without disease progression or death from any cause. The safety and tolerability of Tagrisso was consistent with its established profile.

06:48 EDT Brown & Brown acquires assets of WBR Insurance - Brown & Brown has acquired substantially all of the assets of WBR Insurance Agency, Wilson Insurance Agency, Bell Insurance Agency and Robertson Insurance Agency, collectively, WBR Insurance. With roots dating back to 1982, WBR Insurance recently became an independent insurance broker after operating for most of its history as part of Nationwide Mutual Insurance Company's distribution model. Headquartered in Virginia Beach, Virginia, the firm offers property and casualty insurance products to businesses and individuals in Virginia and other states along the East Coast. Following the acquisition, the WBR Insurance team will operate from their existing office as a branch location of Brown & Brown's Norfolk, Virginia operations.

06:07 EDT Dixie Group to sell and lease Santa Ana facility - Dixie Group has entered into a letter of intent to sell to CenterPoint Properties Trust the company's Santa Ana, California facility. The transaction is subject to entering into a definitive purchase and lease agreement. The property consists of 10 acres with one building totaling approximately 200,000 square feet. The transaction is anticipated to close in early October. The purchase price is in excess of $40M dollars and is anticipated to generate an after tax gain on sale in excess of $20M. Simultaneously, under the agreement, the company shall sign a lease for 10 years with two 5-year renewal options. Daniel Frierson, CEO, said, "This transaction, along with our becoming profitable in the second quarter excluding restructuring related charges, helps ensure our long term financial stability."

06:06 EDT Nektar says analysis showed differences in two early batches of cancer drug - Nektar Therapeutics (NKTR) President and CEO Howard Robin said on the company's earnings conference call that an analysis of the Pivot-02 trial found differences in two early batches of the cancer drug, bempegaldesleukin. "We're disappointed to have discovered this historical problem with these early manufacturing lots," Robin said, adding that partner Bristol-Myers (BMY) remains "very committed" to the development program, "particularly in light of the recent breakthrough designation in melanoma." Shares of Nektar are down 31% in pre-market trading.

06:04 EDT Chart Industries names John Bishop as COO - Chart Industries announced that John Bishop is joining Chart and will assume the role of COO effective August 21. Bishop most recently worked for Morgan Stanley's investment bank as Head of Global Oilfield Services and a member of the North American Upstream team. Prior to that, Bishop spent 10 years with Citigroup's Global Energy Group, and worked for Deloitte Consulting and Motorola.