Stockwinners Market Radar for December 18, 2019 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:43 EST Fly Intel: After Hours Movers - UP AFTER EARNINGS: REV Group (REVG) up 5.3%... Micron (MU) up 4.4%. ALSO HIGHER: Paratek Pharma (PRTK) up 68.1% after getting awarded 5-year contract for Nuzyra... MacroGenics (MGNX) up 6.4% after being initiated with Overweight at Cantor Fitzgerald... Inovio (INO) up 4.2% after being initiated with Buy at Roth Capital... Epizyme (EPZM) up 3.0% after submitting NDA for accelerated approval of tazemetostat. DOWN AFTER EARNINGS: Herman Miller (MLHR) down 9.5%... BGC Partners (BGCP) down 5.1% after guiding Q4 EPS, revenue at low-to-mid point of prior guidance... ABM Industries (ABM) down 4.3%... cbdMD (YCBD) down 3.5%. ALSO LOWER: Minerva Neurosciences (NERV) down 30.6% after disclosing MIN-117 did not show improvement in MDD... Green Dot (GDOT) down 7.2% after retirement of CEO ... Exicure (XCUR) down 4.7% after equity offering. Movers as of 18:30ET.

18:30 EST Kirkland Lake Gold sees 2020 consolidated production 950K-1M - Kirkland Lake Gold provided 2020 full-year guidance with consolidated production targeted at 950K-1M ounces and operating cash costs per ounce sold and all-in sustaining costs per ounce sold expected to average $300-$330 and $570-$630, respectively. The company will also continue to invest in growth, including commencing work on two new mining operations, Robbin's Hill at Fosterville and high-grade zones at Macassa. The company will also continue advanced exploration work in the Northern Territory. The company expects to produce 100,000-120,000 ounces in the Northern Territory in 2020, not included in 2020 guidance pending the resumption of commercial operations. Production at Macassa is expected to total 240K-250K oz. in 2020 and 2021, increasing to 320K-340K ounces in 2022 and over 400K oz. beginning in 2023. Production at Fosterville is targeted at 590K-610K oz. in 2020 and 550K-600K oz. for the following two years, with the potential for additional production beginning in 2023. Expects 2020 operating cash costs per ounce sold of $300-$330 vs. nine-month 2019 average of $296; all-in sustaining costs per ounce sold $570-$630 versus YTD 2019 average of $584; exploration expenditures of $120M-$140M, including capitalized exploration expenditures, unchanged from 2019 guidance.

18:17 EST SmileDirectClub says plaintiffs drop class action claims against company - SmileDirectClub announced that 21 of the consumer "class" plaintiffs under the Ciccio class action complaint have voluntarily withdrawn their claims, leaving only one plaintiff in court and one that has been sent to arbitration. On December 12, 2019, all but two consumer plaintiffs filed an official notice of voluntary dismissal under Ciccio et al v. SmileDirectClub, LLC, et al. Susan Greenspon Rammelt, General Counsel, SmileDirectClub commented: "We have maintained that there was no merit to these claims being filed in court and these withdrawals are a confirmation of our position. The court recently sent the original consumer plaintiff to arbitration. That ruling led to this voluntary withdrawal."

17:48 EST Hyatt board authorizes buyback of up to $750M in stock - On December 18, 2019, Hyatt's board authorized the repurchase of up to an additional $750M of the company's common stock.

17:45 EST Astellas Pharma's Padcev granted FDA approval - The U.S. FDA granted accelerated approval to Padcev, a Nectin-4-directed antibody and microtubule inhibitor conjugate, meaning the drug specifically targets cancer cells - in this case, the cell adhesion molecule Nectin-4, which is highly expressed in urothelial cancers. Padcev is indicated for the treatment of adult patients with locally advanced or metastatic urothelial cancer who have previously received a programmed death receptor-1 or programmed death ligand 1 inhibitor and a platinum-containing chemotherapy. Platinum-containing chemotherapy, PD-1 and PD-L1 inhibitors are standard treatments for patients with bladder cancer, the sixth most common cancer in the U.S. Urothelial cancer, accounting for more than 90% of bladder cancers, begins in cells that line the bladder and nearby organs. Padcev represents a new type of therapy for patients with advanced urothelial cancer whose disease has progressed on chemotherapy and immunotherapy. Reference Link

17:38 EST Uber to pay $4.4M to settle EEOC sexual harassment, retaliation charge - Uber Technologies, Inc. has entered into a nationwide agreement to strengthen its business culture against sexual harassment and retaliation, the U.S. Equal Employment Opportunity Commission announced. This settlement resolves a 2017 EEOC Commissioner's Charge of sex discrimination, ending an extensive investigation in which the EEOC found reasonable cause to believe that Uber permitted a culture of sexual harassment and retaliation against individuals who complained about such harassment, in violation Title VII of the Civil Rights Act of 1964. The pre-litigation agreement was voluntarily entered into by Uber and obtained through the EEOC's conciliation process. Uber will establish a class fund of $4.4M to compensate anyone who the EEOC determines experienced sexual harassment and/or related retaliation after January 1, 2014. In addition, the company has agreed to create a system for identifying employees who have been the subject of more than one harassment complaint and for identifying managers who fail to respond to concerns of sexual harassment in a timely manner. It will also update its policies with input from a third-party consultant and continue conducting climate surveys and exit interviews with specific attention to workplace sexual harassment and retaliation. Uber has agreed to be monitored for 3 years by an outside party, former EEOC Commissioner Fred Alvarez.

17:31 EST Xenia Hotels acquires Hyatt Regency in Portland for $1(0M - Xenia Hotels & Resorts announced it has acquired the newly developed 600-room Hyatt Regency Portland at the Oregon Convention Center located in Portland, Oregon for a purchase price of $190M, or approximately $317,000 per key. The purchase price includes the complete development cost of the hotel, as well as pre-opening and startup costs, working capital, and all supplies to ensure the hotel was fully operational upon opening. The acquisition was funded with cash available on the company's balance sheet and its senior unsecured credit facility. The company does not anticipate the hotel to materially impact the company's EBITDA during the remainder of 2019.

17:30 EST Moody's cuts Boeing ratings to A3 from A2, outlook stable - Moody's Investors Service downgraded its ratings of The Boeing Company, including the company's senior unsecured and short-term debt, to A3 from A2 and to Prime-2 from Prime-1, respectively. Moody's also downgraded the senior unsecured rating for Boeing Capital Corporation, the debt of which Boeing guarantees, to A3 from A2 and downgraded the senior unsecured rating on Boeing's FLT Industrial Revenue Bonds Ser. 1999A to A3/VMIG 2 from A2/VMIG 1. The outlook for both entities was changed to stable from negative. "The downgrades follow the extension of the grounding of the 737 MAX into 2020, the announced plan to shut down this important program for some interim period, and the uncertainty and elevated risk -- both financial and operational -- for Boeing and its broader supply chain over the ensuing period,," said Moody's lead analyst, Jonathan Root. Reference Link

17:25 EST MSB Financial trading halted, news pending

17:21 EST First Bancshares acquires Southwest Georgia Financial - First Bancshares (FBMS) and Southwest Georgia Financial (SGB) signed an Agreement and Plan of Merger pursuant to which First Bancshares has agreed to acquire SGB. SGB will be merged with and into First Bancshares. Upon consummation of the Merger, each SGB shareholder will receive 1.00 share of The First Bancshares's common stock in exchange for each share of SGB common stock. This equates to $34.50 per share or approximately $88M in the aggregate. At September 30, SGB had approximately $548M in consolidated assets, $395M in loans, $466M in deposits and $48M in consolidated stockholders' equity. SGB serves the areas of Moultrie, Valdosta, Albany and Tifton, Georgia through eight full service offices. The Merger Agreement has been approved by both boards. The closing of the transaction is expected to occur in 2Q20 subject to customary conditions, including regulatory approvals and approval by the shareholders of SGB. Upon completion of the transaction, the combined company, including The First Bancshares's acquisition of First Florida Bancorp, which closed on October 31, will have approximately $4.5B in total assets, $3.6B in total deposits and $3.0B in total loans.

17:16 EST Paratek Pharmaceuticals awarded 5-year Project BioShield contract for Nuzyra - Paratek Pharmaceuticals has been awarded a 5-year contract, with an option to extend to 10-years, by the Department of Health and Human Services, Office of the Assistant Secretary for Preparedness and Response, and Biomedical Advanced Research and Development Authority, or BARDA, to support the development of Paratek's Nuzyra for the treatment of pulmonary anthrax, FDA post-marketing requirements associated with the initial Nuzyra approval, and the option to procure up to 10,000 treatment courses of Nuzyra for the Strategic National Stockpile for use against potential biothreats. BARDA's Project BioShield program was created to accelerate the research, development, purchase, and availability of effective medical products against chemical, biological, radiological, or nuclear agents. BARDA will award initial funding of approximately $59M for the development of Nuzyra for the treatment of pulmonary anthrax and the purchase of an initial 2,500 treatment courses of Nuzyra to add to the current SNS. The contract provides for additional potential time-based funding including: approximately $77M for existing FDA PMR commitments scheduled to begin in April 2020 and approximately $20M for manufacturing-related requirements scheduled to begin in June 2020. The remaining staged, milestone-based funding includes the potential for approximately $13M to support the development of Nuzyra for the prophylaxis of anthrax and a maximum of approximately $115M to provide for three additional purchases of NUZYRA for the SNS, each of which will be triggered upon development milestones related to the anthrax treatment development program. Nuzyra was approved in October 2018 to treat community-acquired pneumonia and skin infections.

17:12 EST OceanFirst Financial authorizes share repurchase of up to 2.5M shares - OceanFirst Financial authorized the 2019 Stock Repurchase Program to repurchase approximately 5% of the company's outstanding common stock up to an additional 2,500,000 shares. This amount is in addition to the remaining 167,996 shares available under the existing 2017 Repurchase Program.

17:00 EST Paratek Pharmaceuticals trading halted, news pending

16:53 EST Crowdstrike directors sells 100K shares of common stock - In a regulatory filing, Crowdstrike disclosed that its director Gerhard Watzinger sold 100K shares of common stock on December 16th. The total transaction size was $4.9M.

16:41 EST NII Holdings delisting from Nasdaq, filing dissolution in January - NII Holdings notified Nasdaq of its intent to delist its common stock, par value 0.1c per share from the Nasdaq Global Select Market. NII expects to file a Notification of Removal from Listing on or about December 30 and to suspend trading of its Common Stock on the Nasdaq Global Select Market prior to the opening of trading on January 2, 2020. NII expects that the official delisting of its Common Stock will be effective January 9, 2020. NII completed the sale of its sole remaining operating asset on December 18. As a result, in addition to delisting its Common Stock, NII intends to file its certificate of dissolution on or about January 13, 2020. NII also intends to file a form to indefinitely suspend its reporting obligations under the Securities Exchange Act of 1934 and seek relief from its reporting obligations under the Act to file a Form 10-K for the year ending December 31, 2019.

16:35 EST Minerva trading resumes

16:32 EST Pennsylvania American Water to acquire Royersford Borough wastewater system - Pennsylvania American Water, a subsidiary of American Water, announced that it has signed an agreement to acquire the wastewater assets of Royersford Borough in Montgomery County. The value for the sale is approximately $13M for the Borough's wastewater system which serves nearly 1,600 customers. Pennsylvania American Water will seek approval of the acquisition from the Pennsylvania Public Utility Commission and other necessary approvals from the Pennsylvania Department of Environmental Protection. Earlier this year, the Borough issued a request for proposals for the potential sale of the wastewater system. The signing of the purchase agreement between Pennsylvania American Water and the Borough is the culmination of the request for bid process. The company expects to close the transaction in late 2020 or early 2021, pending regulatory approvals.

16:31 EST FMC Corporation names Mark Douglas as new CEO - FMC Corporation announced that its board has elected Mark Douglas as president and CEO of FMC, effective June 1, 2020. Pierre Brondeau will continue to serve as chairman and CEO through May 31, 2020, at which time he will become executive chairman and remain a member of the board.

16:26 EST PUCO partially approves DP&L's rate request with modifications - The Dayton Power and Light Company, a subsidiary of The AES Corporation (AES), announced that the Public Utilities Commission of Ohio (PUCO) has issued an order partially approving DP&L's November 29th request to implement rates consistent with its most recent Standard Service Offer approved by the PUCO in 2016 and based on its first Electric Security Plan. An important component of DP&L's request, the Rate Stability Charge will be reinstated, allowing DP&L to make investments to its transmission and distribution system to support basic reliability in the short-term. "Today's PUCO decision is a first step for DP&L to begin to financially recover from the PUCO's November 21st decision disallowing DP&L's Distribution Modernization Rider in customer rates. We will continue to work with the PUCO on a long-term solution to enable DP&L to provide customers the safe, reliable and affordable service they expect and to modernize the grid for the future," said Vince Parisi DP&L president and CEO.

16:25 EST Carolina Trust receives shareholder approval for Carolina Financial merger - Carolina Trust BancShares (CART) announced the receipt of required shareholder approval to consummate its previously announced merger with Carolina Financial Corporation, Charleston, South Carolina (CARO). At a shareholders' meeting held on December 18, 2019, Carolina Trust's shareholders approved the merger agreement and the merger of Carolina Trust with and into Carolina Financial. With respect to the merger proposal, 99% of the shares voted at the meeting were cast in favor of the proposal to approve the merger agreement with Carolina Financial. The merger, which has received all required regulatory approvals, is expected to close on December 31, 2019, subject to satisfaction of other customary closing conditions.

16:22 EST ABM announces 2.8% boost to quarterly dividend to 18.5c per share - The Company also announced that the Board of Directors approved a 2.8% increase for the quarterly cash dividend to $0.185 per common share, payable on February 3, 2020 to stockholders of record on January 2, 2020. This marks ABM's 215th consecutive quarterly cash dividend.

16:19 EST Usana announces retirement of chairman Myron Wentz - USANA Health Sciences announced that the company's founder and Chairman of the Board of Directors, Myron Wentz, Ph.D., has chosen to retire from the position of Board Chairman and director at the Company's May 1, 2020 Annual Shareholder Meeting. Dr. Wentz will transition to Chairman Emeritus and be succeeded as Chairman of the Board by Kevin Guest, the company's CEO.

16:17 EST RE/MAX Holdings acquires First data science startup - RE/MAX Holdings has acquired First, a technology company that leverages data science, machine learning and human interaction to help real estate professionals better leverage the value of their personal network. The four-year-old, North Carolina-based technology startup is known for creating the First app, an intelligent coaching platform that makes it easy for agents to identify likely sellers within their own network of contacts. It also organizes and consolidates an agent's database and provides reporting on how much business is both won and lost from within an agent's network. With the acquisition, RE/MAX agents in the U.S. will gain exclusive access to First's platform at a significant discount beginning in early 2020. Current First clients not affiliated with RE/MAX may remain on through their current contract's expiration, or until the end of 2020. Following the acquisition, Schneider will continue to lead the First team, who will remain in Durham, North Carolina.

16:16 EST Green Dot announces retirement of CE Steve Streit - Green Dot Corporation announced the retirement of Green Dot CEO and Founder, Steve Streit. Streit will also retire from Green Dot's Holding Company Board and as Chairman of the Green Dot Bank board. Streit's retirement initiates an orderly management succession and transition process under which Streit will transition to the role of "Chief Innovation Officer" as an independent advisor while Green Dot Board Chairman, William I. Jacobs, will serve as interim Chief Executive Officer and J. Christopher Brewster, Chair of the Audit Committee, will serve as interim president. As part of this process, Green Dot CFO, Mark Shifke, will retire concurrent to Streit and Jess Unruh, Operational Chief Financial Officer and Chief Accounting Officer, will serve as interim Chief Financial Officer. All transitions will become effective on December 31, 2019.

16:11 EST Herman Miller down 6.5% to $46.50 after mixed Q2 results - The company's Q3 profit outlook trailed consensus estimates.

16:10 EST First US Bancshares extends share repurchase program - First US Bancshares announced that the company's board has extended the company's existing share repurchase program. The repurchase program, which was originally approved by the company's board on January 19, 2006, has been extended to expire on the date on which the company has repurchased all of the 93,565 shares that may still be repurchased under the repurchase program, or on December 31, 2020, whichever is earlier. To date, the company has repurchased approximately 549,220 shares of common stock under the repurchase program. Share repurchases under the repurchase program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate, subject to applicable regulatory requirements. The repurchase program does not obligate the company to acquire any particular number of shares and may be suspended at any time at the company's discretion.

16:09 EST Arcus Biosciences announces randomized clinical studies to advance AB928 - Arcus Biosciences (RCUS) announced a clinical collaboration with Genentech, a member of the Roche group (RHHBY), for the evaluation of novel combinations with AB928, Arcus's dual antagonist of adenosine receptors A2aR and A2bR, for colorectal and pancreatic (PDAC) cancers. The collaboration will utilize the MORPHEUS Phase 1b/2 platform for rapid and efficient combination development, with upfront randomization versus control groups, in two studies: Third-line metastatic CRC: two combination arms, AB928 plus atezolizumab, or TECENTRIQ and regorafenib, and atezolizumab plus regorafenib, will be randomized versus regorafenib monotherapy. First-line metastatic PDAC: the combination of AB928 plus atezolizumab and gemcitabine/nab-paclitaxel will be randomized versus gemcitabine/nab-paclitaxel. Under the agreement, each company is supplying its respective anti-cancer agent to support the trial and jointly funding the studies. Additional financial terms were not disclosed.

16:07 EST Civista Bancshares authorizes share repurchase plan of up to 672,000 shares - Civista Bancshares has approved a stock repurchase program of up to 672,000 of its total outstanding shares of common stock and will continue until December 17, 2020. The board's action authorizes Civista to execute one or more 10b5-1 trading plans. The trading plans would allow Civista to repurchase shares of its common stock at times when it otherwise might be prevented from doing so under insider trading laws by requiring that an agent selected by Civista repurchase shares of common stock on Civista's behalf.

16:06 EST Pivotal Acquisition Corp (Class A Stock) trading halted, news pending

16:06 EST Staar Surgical CFO to retire in 2020 - STAAR Surgical Company announced that following a successful 24-year career with the Company, Deborah Andrews plans to retire from the company in 2020. Andrews will continue in her role as Chief Financial Officer until her successor is appointed, and then remain with the company during a transition period until her retirement. STAAR is conducting an external search for its next CFO.

16:01 EST Ameresco completes Phase 2 of energy efficiency project for Apple Valley, MN - Ameresco announced that it has completed phase two of an energy efficiency project for The City of Apple Valley, Minnesota. The project was financed by an Energy Savings Performance Contract and involved a number of energy conservation measures implemented across the community. The City of Apple Valley selected Ameresco as its project partner for phase one of an energy efficiency project in 2013, which was completed in 2014. As a result of greater than anticipated cost savings realized from phase one, the city awarded Ameresco phase two of the project in May 2018. Altogether, the energy improvements implemented by Ameresco have resulted in a 12 percent decrease in energy consumption citywide.

15:20 EST Adidas and Ninja launch collaborative 'Time In' Nite Jogger - "Having first announced their landmark partnership in August 2019, adidas and Ninja have come together to launch their inaugural collaborative product- the 'Time In' Nite Jogger. Recognized as the first of its kind, the partnership serves as a statement of intent from both parties, uniting two icons from the worlds of sportswear and gaming in order to highlight the latter's impact on culture today. The adidas and Ninja collaborative endeavor is an industry-leading co-creation project, elevating the traditional notions of collaboration," said Adidas in a statement. Richard Tyler Blevins or Ninja said in a tweet earlier: So excited to share what I've been working on for my first drop with @adidasOriginals ! The #adidasbyNinja "TIME IN" Night Jogger. Coming at you 12/31." Reference Link

15:00 EST AbbVie announces agreement with pCPA on Venclexta combo - AbbVie announced that an agreement has been reached with the pan-Canadian Pharmaceutical Alliance, or pCPA, for Venclexta in combination with rituximab, a treatment for patients with Chronic Lymphocytic Leukemia who have received at least one prior therapy. "We are thrilled with the positive outcome of our discussions with the pan-Canadian Pharmaceutical Alliance and that Quebec is the first province to list Venclexta in combination with rituximab. We are looking forward to making this treatment available to all Canadians across the country. With a strong commitment to developing innovative therapies for patients and contributing to longer-term healthcare sustainability, AbbVie is committed to providing solutions that bring significant clinical and economic value to patients, healthcare practitioners and our healthcare system," says Stephane Lassignardie, Vice-President and General Manager, Abbvie Canada.

14:30 EST Logitech falls after Corsair buys Scuf to bolster peripheral portfolio - Earlier today, Gaming peripherals firm Corsair announces that it has agreed to acquire high-performance controller pioneer Scuf Gaming "Scuf" and its extensive patent portfolio, in a transaction expected to complete by the end of December 2019. "We are thrilled to greatly expand our portfolio of industry-leading peripherals and enter the gaming controller space to help gamers play at their best," said Andy Paul, Founder and CEO of Corsair. "Scuf leads the market for performance controllers and are a key ingredient to the success of countless esports professionals. Scuf will make an excellent and winning addition to the vast lineup of award-winning CORSAIR and Elgato products." Gizmodo said, "The bigger picture for the gaming world is, with the global PC games market expected to be worth more than $30 billion by the end of 2022, this acquisition puts Corsair in a better position to offer a top-to-bottom lineup of gaming products for hardcore PC gamers-from complete desktops to game-streaming peripherals, and now customizable gamepads." Shares of Logitech, a publicly traded company in the gaming peripheral sector, is down 2% in afternoon trading on Wednesday.

14:26 EST Juniper petition for IPR review of Finjan patent claim denied by USPTO - A filing posted to the site of the United States Patent and Trademark Office states that on on July 26, 2019, Juniper Networks (JNPR) filed a petition to institute an inter partes review of claim 17 of U.S. Patent No. 7,418,731 held by Finjan (FNJN). The USPTO has denied the petition as it reviewed the patent owner's evidence "and agree that the petition is time-barred," according to the filing.

14:04 EST UK competition watchdog suggests curbing dominance of Google and Facebook - The UK's anti trust authority, known as the CMA has published an update in its examination of online platforms and digital advertising. The CMA said in part:"The CMA's interim report has found that: Last year, Google (GOOG) accounted for more than 90% of all revenues earned from search advertising in the UK, with revenues of around GBP 6 billion In the same year, Facebook (FB) accounted for almost half of all display advertising revenues in the UK, reaching more than GBP 2 billion 'Big' is not necessarily 'bad' and these platforms have brought very innovative and valuable products and services to the market. But the CMA is concerned that their position may have become entrenched with negative consequences for the people and businesses who use these services every day...While still early in its work, the CMA is also setting out proposals that it thinks are worth considering in order to address the issues it has identified. These reflect the ideas market participants have put to us and include: potential measures to open up the search market, such as access to click and query data and limiting Google's ability to be the default search engine on devices and browsers; requiring Facebook to connect more seamlessly with rival social networking sites; measures to address the conflicts of interests and lack of transparency in digital advertising and requiring platforms to allow people to turn off personalized advertising." Reference Link

13:41 EST Superior Energy stockholders approve proposed reverse stock split - Superior Energy Services announced that at a special meeting of stockholders of the company held on December 18, its stockholders voted to approve a proposal authorizing the board of directors to effect a reverse stock split of Superior's issued and outstanding common stock and to proportionately reduce the number of the company's authorized shares of common stock. Following the special meeting of stockholders, the board approved a 1-for-10 reverse stock split. The reverse stock split and the authorized share reduction will take effect at 5 p.m. ET on December 18. Previously, the New York Stock Exchange suspended trading of the company's common stock on the NYSE on September 26 and commenced delisting proceedings due to the "abnormally low" per share price of the company's common stock. The company appealed the NYSE's determination and began trading on the OTCQX Best Market. The company expects that the NYSE staff will formally withdraw the delisting determination and pending appeal so that the common stock can resume trading on the NYSE under the ticker symbol "SPN" with a new CUSIP number of 868157306. The company expects that its common shares will resume trading on the NYSE at market open on December 26.

13:04 EST Zumiez officer Adam Ellis sells 5,000 shares of company stock - Zumiez officer Adam Ellis disclosed in a filing that he had sold 5,000 shares of company stock at an average price of $31.13 per share on December 17.The total transaction value of the sale was $155,650.

12:41 EST Ipsen falls over 8% after CEO David Meek resigns, CFO appointed interim CEO - Earlier today, Ipsen announced that David Meek has resigned as the company's Chief Executive Officer and will step down from the Board of Directors, effective December 31, 2019, to pursue another professional opportunity as President and Chief Executive Officer of FerGene. "The Board of Directors would like to thank David for his leadership and service to Ipsen since 2016 and wish him well in his future endeavors," said Marc de Garidel, Chairman of the Board of Directors. "It has been my honor to work with the great team at Ipsen," said David Meek. "I am proud of the accomplishments we have achieved together to be one of the fastest-growing companies in our industry." The Board has decided to appoint Aymeric Le Chatelier, currently Chief Financial Officer as Interim CEO to replace David Meek as of January 1, 2020. Shares of Ipsen are down $1.82 or 8.12% to $20.58 per share in afternoon trading on Wednesday.

12:31 EST Owens & Minor names David Myers chief procurement officer - Owens & Minor announced the hiring of David Myers as SVP and chief procurement officer. In his role, Myers will be responsible for leading global procurement, supplier relations, supplier effectiveness, category management, and the company's Group Purchasing Organization team. Prior to joining Owens & Minor, Myers spent 20 years at Seneca Medical, which later became Concordance Healthcare Solutions, in Tiffin, Ohio, where he served as President and COO. "David brings a unique skillset with him after a career spent in various leadership positions in the healthcare industry," said Mark Zacur, EVP & Chief Commercial Officer. "He's helped lead companies through times of transition, and we know that his expertise will be an asset to the future of Owens & Minor." Myers will fill Zacur's former position, as he was recently promoted to EVP and Chief Commercial Officer.

12:21 EST Cantel Medical raises semi-annual dividend to 10.5c from 10c - Cantel Medical announced that its board of directors approved an increase in its semi-annual cash dividend from 10c to 10.5c per outstanding share of the company's common stock. The dividend is payable on January 31, 2020 to shareholders of record at the close of business on January 17, 2020.

12:04 EST Penn National receives licensing approval for Hollywood Casino York - Penn National Gaming announced that it has received final licensing approval from the Pennsylvania Gaming Control Board for Hollywood Casino York, which will be located at the York Galleria Mall in Springettsbury Township, Pennsylvania. The development of Hollywood Casino York represents an overall investment of nearly $120 million, inclusive of license fees for the property's slot machines and table games. The facility is expected to generate roughly 200 new permanent jobs and more than 250 construction jobs. Construction of Hollywood Casino York is expected to be completed in approximately 12 months.

12:00 EST Akorn extends decline, shares down 30.5% to $2.10

12:00 EST Toro Company falls -8.2% - Toro Company is down -8.2%, or -$6.64 to $74.25.

12:00 EST FedEx falls -9.8% - FedEx is down -9.8%, or -$16.00 to $147.23.

12:00 EST Steelcase rises 18.0% - Steelcase is up 18.0%, or $3.44 to $22.52.

11:53 EST Vornado declares special dividend of $1.95 per share - VORNADO REALTY TRUST announced that its Board of Trustees has declared a special dividend of $1.95 per share payable on January 15, 2020 to shareholders of record on December 30, 2019. Approximately $1.74 of the special dividend will be long-term capital gain. The dividend is the result of gains from the transfer of a 45.4% common equity interest in Vornado's portfolio of flagship high street retail assets on Upper Fifth Avenue and Times Square, the sale of its 25% interest in 330 Madison Avenue and other previously disclosed asset sales, partially offset by a tax deduction resulting from its former investment in Toys "R" Us.

11:50 EST Akerna to acquire Ample Organics in cash, stock transaction valued up to $45M - Akerna Corp. has entered into a definitive agreement to acquire all of the issued and outstanding shares of Canadian-based Ample Organics Inc. in a cash and stock transaction valued at up to $45M. Ample Organics serves over 70% of the Canadian market with its seed-to-sale platform. Just last month, Ample Organics was selected to deliver a national cannabis tracking platform in St. Vincent and The Grenadines in 2020. With this acquisition, Akerna is further executing on its business strategy of complementing strong organic growth with select acquisitions of highly targeted and synergistic technology companies. Akerna is acquiring Ample Organics for up to $45M, comprised of $5.7M cash and $32.3M in Akerna stock payable on closing. Additional consideration of $7.6M in the form of a stock-based deferred consideration may be paid to Ample Organics shareholders if certain revenue targets are achieved by Ample Organics in the calendar year 2020. Projected calendar-year 2020 revenue for Ample Organics is $8.7M, reaching projected cash-flow positive in the second quarter. The acquisition multiple on 2020 revenue is 5.2x, assuming the deferred consideration is achieved in full. The Transaction is expected to close by the end of 1Q20, subject to the satisfaction of customary closing conditions, including receipt of customary regulatory approvals and approval by the shareholders of each company. Cowen has provided a fairness opinion dated Dec. 17, 2019, to the Board of Directors of Akerna stating that as of the date of such opinion and based upon and subject to the assumptions, limitations, and qualifications stated in such opinion, the Transaction is fair, from a financial point of view, to Akerna and its shareholders. Each of the officers and directors of Akerna has entered into voting support agreements in favor of the transaction.

11:31 EST PPG appoints Kevin Walling as chief human resources officer - PPG (PPG) announced the appointment of Kevin Walling as chief human resources officer, effective Feb. 10, 2020. Reporting to Michael McGarry, PPG chairman and CEO, Walling will be responsible for leading the company's global human resources organization. He will be located at PPG's global headquarters in Pittsburgh and serve as a member of the company's Operating Committee. Most recently, he served as chief human resources officer at Hershey (HSY).

11:19 EST Activision Blizzard: CoD: Modern Warfare surpasses 500M multiplayer hours - Activision said in a statement earlier that Call of Duty: Modern Warfare "continues to drive momentum delivering new highs in multiplayer engagement within the franchise for this console generation." The company said Modern Warfare has outpaced all previous Call of Duty multiplayer experiences of this generation in hours played, hours per player and average daily players on its way to becoming the most played Call of Duty multiplayer in the first 50 days since launch in six years. The title, which has sold more than $1B in sell-through worldwide, has surpassed 500 million multiplayer hours played since release with nearly 300 million multiplayer matches. "The momentum for Modern Warfare from day one has been incredible. Players are having a great time and are continuing to engage across the multiplayer experience at the highest level in years. We're also seeing new franchise highs for this console generation in hours played, hours per player and average daily players," said Byron Beede, executive vice president and general manager for Call of Duty, Activision. "It's great to see the fan response to the hard work from our development teams led by Infinity Ward. Players are having a great time, and there's much more to come as we continue to deliver new content."

11:02 EST Hershey names Kristen Riggs as chief growth officer, Chris Scalia as CHRO - Michele Buck, Chairman, President and CEO of The Hershey Company announced new leaders who will join her executive management team. Chuck Raup, currently Vice President, U.S. CMG, has been promoted to President, U.S. Raup will lead the company's flagship U.S. business, including core confection and its sales and go-to-market teams. Kristen Riggs, currently Vice President, Innovation and Strategic Growth Platforms, has been promoted to Senior Vice President, Chief Growth Officer. Riggs will lead Hershey's consumer intelligence and strategy capabilities, strategic growth platforms, marketing excellence functions, innovation, research and development, and The Hershey Experience. Chris Scalia, currently Vice President, Global HR, has been promoted to Chief Human Resources Officer. Hector de la Barreda will continue to lead the company's Amplify snacking business, and will now report directly to Buck. An additional change to the executive team includes the planned retirement of Terry O'Day, Senior Vice President, Chief Technology and Data Officer. O'Day will retire from the company, effective March 31. With this change, Steve Voskuil, Chief Financial Officer, will lead Hershey's technology efforts, including management of the company's information technology and important enterprise resource planning initiatives, which remain on track.

11:02 EST Oshkosh awarded $803.9M JLTV order for Army, Marine Corps, Air Force, Navy - Oshkosh Defense announced that the U.S. Army Contracting Command - Warren has placed an $803.9M order for 2,721 Joint Light Tactical Vehicles. Additional orders from the U.S. Army Contracting Command are anticipated within this fiscal year. This order includes JLTVs for the U.S. Army, U.S. Marine Corps, U.S. Air Force, and U.S. Navy. It also includes vehicles for the country of Montenegro via Foreign Military Sale. The distribution of JLTVs ensures that multiple branches of the United States military have the light tactical vehicle they need to perform missions that support the National Defense Strategy.

10:52 EST FleetCor drops 1% to $301.45 after Citron says FTC suit imminent

10:33 EST FDA accepts and grants priority review to Pfizer's sNDA for Braftovi Doublet - Pfizer announced that the U.S. Food and Drug Administration has accepted and granted priority review to the company's supplemental New Drug Application, or sNDA, for Braftovi in combination with Erbitux, or the Braftovi Doublet, based on results from the Phase 3 BEACON CRC trial, which evaluated the efficacy and safety of Braftovi in combination with Erbitux with or without Mektovi in patients with advanced BRAFV600E-mutant metastatic colorectal cancer, following one or two lines of therapy.

10:09 EST Carl's Jr., Hardee's expand Beyond Meat menu items nationwide - CKE, the parent company of Carl's Jr. and Hardee's, announced that the company will expand its partnership with Beyond Meat (BYND) with the introduction of new all-day plant-based protein options during breakfast, lunch and dinner nationwide. "After a successful year with Carl's Jr. and an initial test with Hardee's, we're thrilled to further expand the partnerships across the U.S. and have both brands be among the first to offer Beyond Meat at all times of day," said Ethan Brown, CEO of Beyond Meat. "The new Beyond Breakfast Sausage is a game changer as it delivers the delicious quick serve breakfast experience that so many of us love and rely on, with the added nutritional and environmental benefits of plant-based meat." The new menu additions are available at Carl's Jr. starting December 18 and at Hardee's starting December 30. The new menu options include a Beyond Sausage Burrito and Beyond Sausage Egg & Cheese Biscuit.

10:00 EST Sasol rises 8.4% - Sasol is up 8.4%, or $1.74 to $22.53.

10:00 EST Steelcase rises 16.6% - Steelcase is up 16.6%, or $3.16 to $22.24.

09:47 EST Flex LNG falls -5.7% - Flex LNG is down -5.7%, or -57c to $9.50.

09:47 EST Sasol rises 9.0% - Sasol is up 9.0%, or $1.87 to $22.66.

09:47 EST Steelcase rises 12.9% - Steelcase is up 12.9%, or $2.46 to $21.54.

09:18 EST DavidsTea announces restatement of previously issued financial statements - DAVIDsTEA announced that its Board of Directors, following the recommendation of the its Audit Committee, is restating its previously-issued interim condensed consolidated financial statements for the quarterly periods ended May 4, 2019 and August 3, 2019 to reflect the restatement resulting from an error in monitoring IAS 36 impairment triggers post-adoption of IFRS 16, Leases and a change in the elections applied upon initial adoption of IFRS 16, Leases on February 3, 2019. The previously filed unaudited condensed interim consolidated financial statements for the quarterly periods ended May 4, 2019 and August 3, 2019 should no longer be relied upon. The Company is filing with the United States Securities and Exchange Commission a Form 8-K containing additional information about the restatement of financial statements and associated disclosures. The restatement only impacts non-cash impairment charges, amortization expenses, deficit at February 3, 2019, and the balance of right-of-use assets, but it does not affect other aspects of the Company's previously reported financial statements. The Company intends to delay the filing of its Quarterly Report on Form 10-Q for the period ended November 2, 2019. The Company expects to file the following as soon as practicable an amendment to its Quarterly Report on Form 10-Q for the period ended May 4, 2019 to restate its unaudited condensed consolidated financial statements and related financial information at May 4, 2019 and to amend certain other items within that report, an amendment to its Quarterly Report on Form 10-Q for the period ended August 3, 2019 to similarly restate its unaudited condensed consolidated financial statements and related financial information at August 3, 2019 and (iii) its Quarterly Report on Form 10-Q for the period ended November 2, 2019.

09:14 EST ICC International Cannabis applies for voluntary delisting from CSE - ICC International Cannabis reports that it has applied to voluntarily delist the Company's Common Shares from the Canadian Securities Exchange. The Company has recently been evaluating various options and alternatives to allow for the expansion of its business activities, and has considered all measures necessary to preserve its operations, which includes assessing cost cutting measures to preserve its working capital position. In the course of its review process, the Company has determined that certain funding opportunities at valuations that better reflect the underlying asset value of the Company are only available should the Company become a non-listed reporting issuer. Written consent for the delisting has been obtained by the Company from a majority of the minority shareholders of the common shares, excluding those common shares held by officers or directors. The delisting will be subject to final approval by the CSE. Subsequent to delisting, the Company will continue to be a reporting issuer in certain jurisdictions in Canada and will remain subject to continuous disclosure requirements. ICC's current shareholders will remain shareholders of the Company. The Company intends to pursue alternative liquidity for shareholders throughout 2020, at its discretion, including but not limited to a reverse take over, a direct listing, asset sale, joint venture and/or trade sale.

09:13 EST Schmitt Industries, directors acquire 509,331 shares of common stock - Schmitt Industrie announced that the Company, together with three directors of the Schmitt Board of Directors, acquired 509,331 shares of common stock of Schmitt from Walter Brown Pistor. Prior to the acquisition of the Shares, Pistor was the Company's second largest shareholder. Following the Acquisition, Pistor no longer holds any shares in Schmitt. The aggregate consideration paid by Schmitt and the Directors in the Acquisition was $1,655,325.75, or $3.25 per share. The Company purchased the Shares from Pistor after Pistor expressed his desire to sell his entire position in Schmitt to Michael Zapata, the Chairman of the Board and CEO of Schmitt. Zapata, together with the rest of the Board, determined it was in the best interest of Schmitt shareholders for Schmitt to purchase the majority of the stake, while providing that Zapata and two other Directors participate. There is no change in the Company's business plan or strategy as a result of the Acquisition, including the Company's current $2M share repurchase plan. The Shares were purchased as follows: Schmitt purchased 365,490 Shares, or 8.9% of the Company's outstanding shares; Zapata, through Sententia Capital Management, LLC, purchased 123,456 Shares, or 3%; Director Andy Hines purchased 15,385 Shares, or 0.4%; and Director Steven Strom purchased 5,000 Shares, or 0.1%.

09:10 EST Pardee Homes says Altis has secured nearly 100 new home sales in first year - Pardee Homes Inland Empire announced that Altis, its 55+ master-planned community located between Palm Springs and Los Angeles, has secured nearly 100 new home sales in the first year since opening. Altis will ultimately comprise 704 homes across four distinct collections - Vita, Avid, Mira and Elan - all offering fresh designs, energy-efficient features and open, personalized floor plans. Ranging from approximately 1,473 to 3,094 square feet, the single-story homes come with two to three bedrooms, 2 to 3.5 baths and two-bay garages. Initial move-ins to Pardee Homes' debut active-adult lifestyle development took place in July.

09:08 EST Marathon Patent Group to suspend further deployment of 3,600 S-9 Antminers - Marathon Patent Group announced that as of December 12th, 2019, the Company has 3,600 S-9 Bitmain 13.5 TH/s Bitcoin Antminers installed and operational. This installation increases the Company's total Hashing capacity from approximately 14 Petahash per second pre-deployment, to a current per second rate of approximately 50 Petahash. The Company previously disclosed it had executed a hosting agreement on October 3rd, 2019 which provided for an installation schedule from the hosting company. The schedule indicated all 7,200 S-9 Antminers were to be installed by December 15th, 2019, absent any equipment receipt delays not in their control. Unfortunately, the hosting company experienced numerous delays, primarily as a result of the delayed receipt of the custom-built containers needed to house our mining equipment, resulting in only half miners being installed as of last week. The unforeseen delay did afford management the opportunity to reevaluate the substantial increase of its mining operation given the recent deterioration in Bitcoin market conditions. After the price of Bitcoin bottomed near $3,200 in February 2019, it subsequently rose to over $13,800 in the summer of 2019. The Company's management believed in early Fall that the market conditions provided it the right opportunity to make the investment to expand its mining operation. Bitcoin prices, had they remained consistent, would have dramatically increased the company's cash flow; however, as it has turned out, the price of Bitcoin began a steady decline toward $6,500. Based on the change in Bitcoin market conditions, management has made the decision to suspend further deployment of the remaining 3,600 miners at this time. The Company will continue to monitor market conditions in advance of restarting the deployment of our remaining 3,600 miners.

09:07 EST Evolent Health files NY WARN notice related to plant layoffs - Evolent Health filed a WARN Act notice with the state of New York on December 12, which was published on December 17. The reason stated for the filing was a "Plant Layoff" that impacts 49 employees and the reason given was a "loss of contract with SOMOS Healthcare Providers." Reference Link

09:05 EST McClatchy's plan to regain compliance approved by NYSE - McClatchy's plan to regain compliance with the NYSE American's continued listing standards has been accepted. The Company received a letter from the NYSE American on September 9 stating that the McClatchy was below compliance with continued listing standards relating to stockholders' equity. The company submitted a compliance plan to the NYSE American on October 9 and the company has been granted until March 9, 2021 to implement its plan and regain compliance. The extension is subject to periodic review by the NYSE American for compliance with the initiatives set forth in the plan. If the company is not in compliance with the continued listing standards by March 9, 2021, or if it does not make progress consistent with the plan during the plan period, NYSE American may initiate delisting proceedings as appropriate. During this period, the Company's common stock will continue to be traded on the NYSE American with the added designation of ".BC".

09:05 EST Hemisphere Media reaches multi-year distribution agreement with Dish Network - Hemisphere Media Group (HMTV) announced that the company has reached a multi-year agreement with DISH Network (DISH) to restore Puerto Rico's highest-rated broadcast network WAPA Television, the Island's leading sports network WAPA Deportes, and U.S. cable network WAPA America, to its service. The two companies reached agreement after lengthy negotiations since the networks went dark on Thursday, October 24. Distribution of WAPA Television and WAPA Deportes was restored on December 16, and distribution of WAPA America will resume in January. In addition, DISH has entered into a multi-year renewal to distribute CentroAmericaTV on DishLATINO in the U.S.

09:04 EST Banner Corp. declares special cash dividend of $1.00 per share - Banner Corporation announced that its Board of Directors declared a regular quarterly cash dividend of 41c per share and a special cash dividend in the amount of $1.00 per share. The dividends will be payable January 21, 2020, to common shareholders of record on January 9, 2020.

09:02 EST Onconova announces exclusive license agreement with STA for rigosertib - Onconova Therapeutics announced it has entered into a Distribution, License, and Supply Agreement whereby Specialised Therapeutics Asia shall have the exclusive rights to commercialize rigosertib in Australia and New Zealand. In addition, Onconova may be entitled to receive clinical, regulatory, and sales-based milestone payments up to $30.4M and tiered double-digit royalties on net sales.

09:00 EST Ultragenyx trading resumes

08:49 EST Orbit International's Electronic Group receives order for approx $1.58M - Orbit International announced that its Electronics Group has received a purchase order from a major prime contractor for approximately $1,580,000, for a display used on a major military aviation program. Deliveries of the completed display units are expected to commence in the fourth quarter of 2020 and continue through the fourth quarter of 2022.

08:42 EST Methanex enters interim agreement with NGC of Trinidad and Tobago - Methanex Corporation announced that it has entered into an interim agreement with the National Gas Company of Trinidad and Tobago Limited for the supply of natural gas to its Titan methanol facility for the period from January 1, 2020 to January 31, 2020. The existing natural gas supply agreement for Titan expires on December 31, 2019 and the interim agreement will enable Methanex to continue operations at Titan while continuing negotiations with NGC for a longer-term natural gas supply agreement.

08:41 EST Fluidigm says UM Protein Assembly Lab selects Hyperion Imaging System - Fluidigm announced that The University of Michigan Protein Assembly Lab has chosen the Hyperion Imaging System to expand its capabilities in multiparameter imaging and immune profiling of tissue. Building upon important research enabled by mass cytometry since 2016, the lab acquired a Hyperion Imaging System to expand its capabilities in multiparameter spatial analysis of the tissue microenvironment. The Protein Assembly Lab is under the direction of Fei Wen, PhD, Associate Professor and Associate Chair for Undergraduate Education in Chemical Engineering, Director of the UM Mass Cytometry Core and Co-Director of the Immune Monitoring Shared Resource at the UM Rogel Cancer Center.

08:39 EST Obalon Therapeutics enters distribution agreement with Al Danah Medical Company - Obalon Therapeutics announces that it has entered into a one-year agreement with Al Danah Medical Company for distribution of the Obalon Navigation Balloon System in Qatar. Obalon has terminated its agreement with Bader Sultan and Bros. Company for distribution of its prior-generation balloons, which was set to expire on December 31, 2019.

08:37 EST GrowGeneration purchases all assets of Portland-based GrowWorld - GrowGeneration has purchased the assets of GrowWorld, located in Portland, OR. GrowWorld started in 2011 and operates out of a 15,000 sq. ft. retail and warehouse garden center, which is the largest in Oregon by square footage. GrowWorld has been the biggest hydroponics retail store with the highest sales volume in Portland, OR since 2015, as well as the highest grossing/highest revenue store in Oregon's history. The GrowWorld acquisition adds an accretive $5.0M in revenue. Oregonians will spend more than $1B on cannabis products in 2020, according to a new forecast, ranking the state fifth.

08:35 EST Luby's and Fuddruckers partner with DoorDash for delivery services - Luby's is partnering with DoorDash, an on-demand food platform, to offer delivery from more than 100 Luby's and Fuddruckers restaurants. Customers will be able to get their meals delivered to their door from nearly 80 Luby's restaurants, 30 Fuddruckers corporate-owned restaurants and a number of the 100-plus franchised Fuddruckers restaurants in the U.S.

08:33 EST ANI Pharmaceuticals launches Bretylium Tosylate injection for arrhythmias - ANI Pharmaceuticals launched Bretylium Tosylate Injection USP, 50 mg/mL. Bretylium Tosylate is a class III antiarrhythmic medication approved for the treatment of ventricular fibrillation and life-threatening ventricular arrhythmias such as ventricular tachycardia. Prior to its discontinuation, Bretylium Tosylate was commonly stocked as a standard drug on crash carts. ANI estimates that there are approximately 180,000 crash carts in the U.S., and that treatment of the typical patient will require two to four vials.

08:32 EST Aileron Therapeutics promotes Richard Wanstall to CFO, treasurer - Aileron Therapeutics announced the promotion of Richard Wanstall to CFO and Treasurer, effective immediately. Wanstall has served as the Company's VP of Finance and Operations and principal accounting officer since 2018.

08:26 EST Ultragenyx trading halted, news pending

08:20 EST Rubius Therapeutics appoints Anne Prener to board of directors - Rubius Therapeutics announced the appointment of Anne Prener, M.D., Ph.D., to its board of directors. Prener most recently served as the CEO of Freeline Therapeutics. Rubius announced that Robert Langer, Sc.D., is stepping down from his role on the board of directors, effective today, but will continue to serve the Company through a scientific advisory role.

08:15 EST Verizon, Walt Disney Studios StudioLAB explore 5G for entertainment experiences - Verizon (VZ), The Walt Disney Studios StudioLAB (DIS), and ILMxLAB teamed up to explore how 5G can transform live entertainment experiences and capture moments built on 5G for the broadcast production at the world premiere of Star Wars: The Rise of Skywalker this week in Los Angeles. The 5G tests represent the latest milestone in the companies' collaboration to co-innovate and test how 5G can impact the future of entertainment. Verizon 5G Ultra Wideband was used in two situations during the premiere. At the live-streamed red carpet event, Disney Studios production cameras were connected to Inseego MiFi M1000 devices that connected to Verizon's 5G Ultra Wideband network. The cameras sent high definition video footage to the broadcast truck over 5G, where Disney Studios producers integrated key red carpet moments captured on 5G into the live-streamed broadcast.

08:13 EST SeaSpine announces 25,000th NanoMetalene implantation - SeaSpine Holdings announced the implantation of the 25,000th NanoMetalene interbody device. NanoMetalene is a proprietary surface technology for interbody implants that incorporates a sub-micron layer of commercially pure titanium molecularly bonded to a PEEK implant using a high-energy, low-temperature process referred to as atomic fusion deposition.

08:11 EST Celsion signs MOU to establish subsidiary in Yuhang District of Hangzhou - Celsion Corporation announces the signing of a memorandum of understanding with officials from the Hangzhou Yuhang Economic Development Area to establish a subsidiary in the Yuhang District of Hangzhou, the capital of China's Zhejiang Province. The Area, also known as the Qianjing Economic Development Area, is located in China's biotech hub, where the Chinese government has made the development of advanced medical technologies that address unmet patient needs a high priority. The primary purpose of this new subsidiary is to commercialize innovative cancer therapies starting with ThermoDox, the Company's treatment for hepatocellular carcinoma, or primary liver cancer. ThermoDox is currently in global Phase III studies including 17 sites in China. In addition to China, the subsidiary will focus on all nearby developing markets including the Philippines, Malaysia, Thailand and Vietnam. Hisun, Celsion's local manufacturing partner, is expected to provide an economically viable ThermoDox cost structure by establishing a low-cost base of production for these geographies. Registration of the subsidiary is expected to be completed in 2020, with full operation expected in the first half of 2021. The MOU provides numerous incentives from the Hangzhou municipal government under the central government's policy that are expected to benefit Celsion and the new subsidiary including reimbursement for personnel recruiting, rent-free office space for three years and tax abatements associated with certain capital investments. The Company's immediate financial obligation under the agreement will be offset by future grants tied to progress with clinical research programs.

08:08 EST Pfenex earns $15M milestone under agreement with Jazz Pharmaceuticals - Pfenex (PFNX) announced that it has earned a $15M development milestone under its development and license agreement with Jazz Pharmaceuticals (JAZZ). The milestone is associated with process development activities for PF745, a long-acting Erwinia asparaginase. Under the terms of the development and license agreement, Pfenex is eligible to receive an aggregate total of up to $224.5M in development and sales milestones, of which $162.5 million is still eligible to be received by Pfenex, including up to $3.5M for development milestones, $34M in regulatory milestones and $125M in sales milestones. Pfenex may also be eligible to receive tiered royalties based on worldwide sales of any products resulting from the collaboration.

08:05 EST Seattle Genetics receives breakthrough therapy designation for tucatinib - Seattle Genetics announced that the FDA has granted breakthrough therapy designation to tucatinib, in combination with trastuzumab and capecitabine, for treatment of patients with locally advanced unresectable or metastatic HER2-positive breast cancer, including patients with brain metastases, who have been treated with trastuzumab, pertuzumab and T-DM1. The positive topline results of the HER2CLIMB clinical trial were announced in October and additional data were presented at the San Antonio Breast Cancer Symposium and were simultaneously published in the New England Journal of Medicine. Tucatinib is an oral, small molecule tyrosine kinase inhibitor that is highly selective for HER2.

08:05 EST Soliton's Rapid Acoustic Pulse device completes safety testing for FDA filing - Soliton's Rapid Acoustic Pulse device successfully completed the IEC 60601 safety testing being conducted at SGS, an inspection, verification, testing and certification company. The testing was led by a team at Sanmina Corporation, an electronics manufacturing services provider. This safety testing is a requirement of the supplemental 510(k) filing for the company's RAP device for tattoo removal, improvement in the appearance of cellulite, keloid and additional pipeline indications. The supplemental 510(k) filing will provide an update to Soliton's current FDA 510(k) clearance, which was received in May 2019 for tattoo removal, with respect to the step changes made to the device to improve usability in the field. The company expects to submit this safety data in early 2020, simultaneous with the Special 510k filing of its second generation RAP device. The company plans to commercialize the device being launched for tattoo removal to a limited number of dermatologists in mid-2020.

08:03 EST Novan appoints Paula Brown Stafford as CEO to succeed G. Kelly Martin - Novan announced that Paula Brown Stafford, currently president and COO of Novan, will succeed G. Kelly Martin as its CEO, effective February 2, 2020, and she will remain a member of the Novan Board of Directors. Martin, as per previous agreement, has a fixed term employment contract that is due to expire on February 1, 2020 and Mr. Martin will step down as Novan's CEO at that time. Concurrent with the end of his term as CEO, Martin will also step off the Board of Directors, effective February 3, 2020. Martin and Stafford will collaborate to execute a smooth transition of CEO responsibilities. Stafford joined Novan as the chief development officer in March 2017 before being promoted to president and COO in January 2019.

07:39 EST KemPharm announces debt restructuring with Deerfield, Delaware Street Capital - KemPharm announced its entry into a December 2019 Exchange Agreement and Amendment to Facility Agreement, Senior Secured Convertible Notes and Warrants with Deerfield and Delaware Street Capital. Under the December 2019 Exchange Agreement, the Company will effect a series of transactions, which, among other things, will push the principal and interest payments on outstanding debt in principal amount of $77.7M to a new maturity date of March 31, 2021. The Company and Deerfield also agreed to certain adjustments to the September 2019 Exchange Agreement and the Company's Facility Agreement with Deerfield dated June 2, 2014, each described in more detail below. In addition, the Company announced a prodrug discovery collaboration between Deerfield and KemPharm to employ the Company's proprietary technology to potentially discover new product candidates for Deerfield or its affiliates. The Company also entered into an amendment of the September 2019 Exchange Agreement and Amendment to Facility Agreement with Deerfield, dated September 3, 2019, which adjusted the option exchange price to the greater of the 15-day VWAP as of the date the option is exercised, or $0.60, compared to the previous price of $0.9494, added a limit of 28.4 million shares that can be issued, and removed the limit on the amount of nominal debt that can be exchanged under the agreement. As a result, the potential maximum dilution under the September 2019 Exchange Agreement remains unchanged from the original agreement. Cowen served as KemPharm's exclusive financial advisor in connection with the transactions contemplated under the December 2019 Exchange Agreement. KemPharm also announced a technology collaboration with Deerfield as part of the December 2019 Exchange Agreement. Under the December 2019 Exchange Agreement, Deerfield or its affiliates may identify up to two compounds that may have applications for new disease indications, and upon request and under mutually agreeable terms and conditions, KemPharm will utilize its proprietary technology to potentially discover new product candidates. If such effort is successful in discovering an acceptable product candidate, KemPharm and Deerfield may further collaborate to develop that product candidate subject to mutually agreeable terms and conditions. The discovery effort would seek to improve the profile of a selected drug candidate, possibly generate long-lived composition-of-matter patents, and seek to address unmet patient needs.

07:35 EST VIVUS announces results of PK/PD study of Qysmia in adolescents with obesity - VIVUS announced the results of a pharmacokinetic and pharmacodynamic study demonstrating that Qsymia capsules CIV has favorable pharmacokinetic, efficacy, and safety/tolerability profiles when used for eight weeks to treat adolescents with obesity. The study was conducted in order to establish dosing levels for the ongoing Phase 4 post-marketing study of Qsymia in obese adolescents. The results have been published online in Diabetes, Obesity and Metabolism. This randomized, double blind, placebo-controlled, study was conducted at four U.S. sites and enrolled 42 participants ages 12-17 years with a body-mass index greater than or equal to the 95th percentile for age and sex. The study consisted of a 14-day screening period followed by a 56-day treatment period. Eligible participants were randomly assigned in a 1:1:1 ratio to placebo, mid-dose Qsymia or top-dose Qsymia. Within each active treatment arm, doses were titrated at two-week intervals starting with low dose Qsymia and increasing until the randomized dose was achieved. Participants assigned to placebo underwent a sham titration to ensure that both participants and site personnel remained blinded to treatment assignment. The primary objective of the study was to describe the PK profiles of Qsymia after administration in adolescents with obesity. Key findings from the study include:The study authors conclude that both the mid- and top-doses of Qsymia evaluated in this study are appropriate for longer-term safety and efficacy study in adolescents. PK analyses were conducted in 26 patients in the Qsymia groups, and results show that exposure to the mid- and top-dose Qsymia groups was comparable to that observed in prior studies of Qsymia in overweight and obese adults. Significant differences from baseline to Day 56 were observed with respect to mean percentage change in weight for both Qsymia groups compared with placebo; and for mean change in waist circumference and hunger scores for the top-dose Qsymia group compared with placebo. Treatment emergent adverse events were reported in 54.8% of the 42 patients who entered the trial; specific events reported by two or more subjects included headache, paresthesia, hypoesthesia, dry mouth, decreased appetite, and insomnia. All of these have been observed in previous studies with Qsymia. Of the 42 patients enrolled, 37 completed the study, indicating tolerability of Qsymia.

07:32 EST Axon says Australian Federal Police to roll out TASER 7 weapons - Axon Public Safety Australia, a subsidiary of Axon Enterprise, announced that the Australian Federal Polic Protection Operations, Aviation, will deploy 300 TASER 7 weapons, 470 Axon Body 2 cameras, 470 Axon Signal Sidearm units and the digital evidence management system, Axon Evidence. The AFP is the first agency in the Asia-Pacific region to deploy the TASER 7, the most effective TASER weapon yet, with services that are completely integrated into Axon Evidence. This order was received in the fourth quarter of 2019 and will begin shipping in the first quarter of 2020.

07:30 EST Global Blood Therapeutics secures $150M non-dilutive term loan financing - Global Blood Therapeutics announced that it has entered into a $150M loan agreement with funds managed by Pharmakon Advisors LP, a leading global life sciences investment firm and manager of the BioPharma Credit funds. The non-dilutive loan agreement provides GBT with a $150M term loan. The first $75M will be drawn in connection with the close of the transaction, and an additional tranche of $75M is available for GBT to draw at its option until December 31, 2020. The loan matures in December 2025 and can be prepaid at GBT's discretion, at any time, subject to prepayment fees.

07:28 EST Enthusiast Gaming receives conditional approval to graduate to the TSX - Enthusiast Gaming Holdings announced that the Company has received conditional approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange. Enthusiast Gaming's common shares will commence trading on the TSX under the same ticker symbol "EGLX". The Company anticipates trading on the TSX will commence in January 2020. According to the TMX Group, there are 1,933 companies listed on the TSXV and only 21 graduated to the TSX year to date. In 2018, only 12 TSXV listed companies graduated to the TSX. Making the transition from being a TSXV listed company to a TSX listed company is an accomplishment for any public issuer, and it's evident that only a small fraction of listed companies are able to make that transition. The up-listing will be a significant milestone for Enthusiast Gaming, and follows a number of important corporate actions since closing the merger between Enthusiast, Aquilini GameCo, and Luminosity Gaming in August 2019. Final approval of the listing is subject to the Company fulfilling certain customary conditions required by the TSX. The Company will issue a statement once the TSX confirms the date on which trading on the TSX will commence. Upon satisfaction of the final listing requirements, the Company's common shares will be delisted from the TSXV and commence trading on the TSX. Shareholders will not be required to take any action.

07:25 EST ContraFect announces gram-negative product candidate CF-370 - ContraFect Corporation announced that it has selected its next product candidate, CF-370, an engineered lysin targeting Pseudomonas aeruginosa. CF-370 was nominated for further development based on its potent in vitro bactericidal and antibiofilm activity and in vivo activity and tolerability in preclinical animal models, favorable manufacturing profile, and potentially favorable intellectual property rights for a proprietary engineered lysin. The Company will rapidly advance CF-370 into IND-enabling studies, as the first lysin with potential to address systemic human infections caused by the Gram-negative pathogen P. aeruginosa. The Company expects to present the detailed preclinical data supporting the advancement of CF-370 at an upcoming scientific conference. In preclinical rabbit pneumonia models, single doses of CF-370 alone and in combination with the antibiotic, meropenem, were tested against multi-drug resistant P. aeruginosa to evaluate survival and bacterial burden in lung and secondary organs. In these models, strong efficacy was observed for CF-370 as a monotherapy, showing rabbits dosed with CF-370 alone had longer survival, as compared to vehicle control, and reductions in bacterial burden in lung, kidney and spleen with single doses of CF-370. Synergy with meropenem was also noted with greater reductions in bacterial burden compared to monotherapy. In these models, CF-370 was well tolerated with no adverse clinical consequences and no deaths among animals infected with P. aeruginosa.

07:22 EST BeyondSpring sees sufficient cash to submit NDAs for Plinabulin - The company said, "As of September 30, 2019, the Company had a cash balance of $24.7M. With the additional $25.8M gross proceeds from the recent public offering described above, the Company believes it has sufficient cash to support its clinical trials and submit NDAs in the U.S. and China for Plinabulin for the treatment of NSCLC and CIN, as well as to advance its immuno-oncology pipeline and its ubiquitination protein degradation research platform."

07:15 EST AxoGen awarded ARMI research grant to develop automated bioprocessing systems - Axogen announced it has been awarded a grant to research and develop an automated bioprocessing system for human tissue scaffolds. Axogen's partnership with the Advanced Regenerative Manufacturing Institute will enable the decellularization and recellularization of tissue scaffolds with little to no human intervention. The resulting bioprocessing system will have sufficient flexibility to allow customization by ARMI members for multiple decellularization and recellularization processes and multiple tissue types. Under the terms of the grant, ARMI will reimburse up to $804,000 of actual costs incurred as a result of carrying out the project in accordance with its associated milestones, over a period not to exceed 30 months. Axogen will retain the right to intellectual property developed during the course of the project.

07:12 EST Ionis Pharmaceuticals appoints Frank Bennett to Chief Scientific Officer - Ionis Pharmaceuticals appointed C. Frank Bennett as Chief Scientific Officer, and Eric Swayze as Senior Vice President of Research, effective January 1, 2020. In his new role, Bennett will lead a new program to identify technologies to enhance Ionis' drug discovery programs as well as, identify potentially new therapeutic platforms. Additionally, Bennett will continue in his current role as Franchise Leader for Neurology Drug Discovery and serve as a senior strategic advisor to Ionis' research and development programs. Bennett is one of the founding members of Ionis. Swayze will succeed Bennett as Senior VP of Research. He will be responsible for leading preclinical antisense drug discovery and antisense technology research. Swayze joined Ionis in 1994. Since 2012, Swayze has led the neuroscience drug discovery group.

07:11 EST Epizyme announces trading halt, FDA ODAC to review tazemetostat NDA - Epizyme announced that trading of its common stock has been halted. The FDA Oncologic Drugs Advisory Committee, or ODAC, is meeting at 8:00 a.m. ET to discuss Epizyme's New Drug Application, or NDA, for tazemetostat, an oral, first-in-class EZH2 inhibitor, for the treatment of patients with metastatic or locally advanced epithelioid sarcoma who are not eligible for curative surgery. The advisory committee vote will be non-binding, but FDA takes its recommendations into consideration when reviewing related applications for marketing approval.

07:09 EST Capital Product to acquire three 10,000 TEU container vessels for $162.6M - Capital Product Partners announced that it agreed to acquire three 10,000 TEU sister container vessels, namely the M/V Athos, the M/V Aristomenis and the M/V Athenian built in 2011 at Samsung Heavy Industries S. Korea, for a total consideration of $162.6M from Capital Maritime & Trading Corp. The vessels are under long-term time charters with Hapag-Lloyd which will expire in April 2024. The gross charter rate for each vessel currently amounts to $27,000 per day, increasing to $28,000 per day for the M/V Aristomenis from October 2020, and from July 2021 onwards for the M/V Athos and the M/V Athenian. The time charters include two one-year options at $32,500 and $33,500 gross per day, respectively. The Partnership intends to fund the acquisition of the three vessels with approximately $47.1M cash at hand and two financing arrangements: the M/V Aristomenis and M/V Athos will be financed through a sale and lease back transaction, entered into with CMB Financial Leasing for an amount of up to $38.5M each, while the M/V Athenian will be financed through a term loan entered into with Hamburg Commercial Bank A.G. for an amount of up to $38.5M. Quarterly principal repayments under the CMBFL lease amount to $0.8M for each vessel. The lease has a duration of five years and includes a purchase option for the Partnership to acquire each vessel on expiration of the lease at the predetermined price of $22.5M or pay the amount of $7.5M to CMBFL, if the option is not exercised. In addition, the Partnership has various purchase options commencing from the first year anniversary of the lease. The HCOB facility bears interest at LIBOR plus a margin of 2.55% and is payable in twenty consecutive equal quarterly installments of $0.86M plus a balloon payment of $21.3M payable together with the final quarterly installment. Both the HCOB facility and the CMBFL lease are subject to customary closing conditions. The average fleet age of the Partnership following the transaction will be 7.7 years and the average remaining charter duration will stand at 4.6 years.

07:05 EST LHC Group, Ochsner agree to purchase five Egan Home Health, Hospice locations - LHC Group and Ochsner Health System announced an expansion of their joint venture partnership - Southeast Louisiana HomeCare - with an agreement to purchase five Egan Home Health and Hospice provider locations across South Louisiana. LHC Group and Ochsner have been home health joint venture partners since 2009. Through their partnership, the two healthcare organizations have improved the overall quality ratings for their agencies, as well as reduced hospital readmission rates. It is anticipated that this agreement will be finalized on Jan. 1, 2020, subject to customary closing conditions. LHC Group expects approximately $16M in annualized revenue from this purchase. Through their partnership, LHC Group and Ochsner focus on expanding access to in-home healthcare service capacity and capabilities in key markets. Home health and hospice partnerships are a key component in helping patients receive efficient and effective care.

07:03 EST Lennox sees FY20 CapEx approximately $153M - Including approximately $53M funded by insurance proceeds to complete the reconstruction of the company's Iowa manufacturing facility that was damaged by a tornado in 2018. Sees FY20: Stock repurchases of $400M; Effective tax rate of 21%-22%; Corporate expenses of approximately $90M.

06:56 EST Madrigal Pharmaceuticals doses first patient in Phase 3 study of NASH candidate - Madrigal Pharmaceuticals has dosed the first patient in its second Phase 3 clinical trial, MAESTRO-NAFLD-1 with its first-in-class, once daily, oral thyroid hormone receptor-beta selective agonist, resmetirom. Madrigal initiated its first Phase 3 clinical program, MAESTRO-NASH, in NASH patients with advanced liver fibrosis in March. The primary endpoint for that trial, after one year of treatment, is resolution of NASH; key secondary endpoints include LDL-cholesterol lowering and reduction in liver fibrosis. Additionally, clinical benefit in reducing progression to more advanced liver disease, including cirrhosis, is a long-term goal of MAESTRO-NASH. MAESTRO-NAFLD-1 is a Phase 3 study in 700 patients designed to evaluate the safety and biomarkers in resmetirom as compared with placebo treated patients in a broad segment of patients with NASH and to support registration for the treatment of NASH. The primary endpoint of the study is safety. MAESTRO-NAFLD-1 is also expected to provide additional data regarding clinically relevant efficacy endpoints including lowering of atherogenic lipids and lipoproteins. Treatment duration in MAESTRO-NAFLD-1 is 52 weeks.

06:55 EST Epizyme trading halted, news pending

06:38 EST Quarterhill intends to list shares on OTCQX Market - Quarterhill announced that, as part of the delisting of its common shares from Nasdaq on December 13, the company filed a Form 25 with the United States Securities and Exchange Commission. As a result of this filing, the last day of trading for the company's shares on Nasdaq will be December 20 and the company's shares will be delisted from Nasdaq at the open of trading on December 23. Since announcing its voluntary delisting from Nasdaq, the company has heard directly from some U.S. shareholders of unexpected challenges in trading their common shares on the Toronto Stock Exchange, or TSX, through certain broker dealers. These challenges appear to reflect a lack of familiarity with the TSX by such broker dealers. As a result, the company plans to apply to list its common shares on the United States OTCQX Market. The OTCQX Market is a financial market for U.S. and international companies. Subject to completing the application process, Quarterhill expects its common shares to be listed and tradable on the OTCQX Market as of December 23 under the symbol (QTRHF). Quarterhill will continue to comply with all of its Canadian continuous disclosure and corporate governance obligations and in addition to its OTCQX listing, the common shares will continue to be listed and traded on the TSX. Notwithstanding listing the common shares on the OTCQX Market, Quarterhill still expects to derive financially meaningful savings of approximately C$1M per year from the delisting of its common shares from Nasdaq, which is part of the company's continued disciplined focus on managing costs for the benefit of its business and shareholders.

06:32 EST DaVita appoints Dr. Jeffrey Giullian as Chief Medical Officer - DaVita Kidney Care announced Dr. Jeffrey Giullian as Chief Medical Officer . Dr. Giullian has most recently led clinical quality and safety efforts as CMO for DaVita Hospital Services, and he will continue in that role in the interim, in addition to becoming CMO for DaVita Kidney Care.

06:26 EST Voya Financial to sell Individual Life unit, other closed blocks - Voya Financial announced that it has entered into a definitive agreement with Resolution Life Group Holdings whereby Voya will divest its Individual Life and other legacy non-retirement annuities businesses. The blocks of business being divested include those that Voya had previously closed to new sales and include substantially all of the company's individual life insurance business; fixed and variable annuities not included in Voya's 2018 sale of its annuities business; pension risk transfer liabilities; and other similar blocks. Through the transaction, Voya's Security Life of Denver Insurance Company and Security Life of Denver International Limited subsidiaries will be acquired by a new holding company, Resolution Life US, created by Resolution Life to hold these blocks of business. In addition, Voya will reinsure the life insurance, pension risk transfer and non-retirement annuities business issued by ReliaStar Life Insurance Company, Voya Retirement Insurance and Annuity Company, and ReliaStar Life Insurance Company of New York to SLD. Voya will retain ownership of VRIAC, RNY and RLI. Voya will also take a $225M interest in Resolution Life, the parent investment fund of Resolution Life US. Based on Sept. 30 balances, the general account assets associated with the products included in this transaction were $24B. In connection with the transaction, Voya Investment Management will be appointed investment manager over approximately $20B of these assets, which include core fixed income and specialty asset classes. Voya IM will also serve as one of the preferred asset management partners for Resolution Life. This arrangement aligns with Voya IM's focus on providing long-term, risk-adjusted returns in serving the needs of insurance companies. It also speaks to the strength of Voya IM's capabilities in managing and servicing multi-asset portfolios for third party insurance clients with traditional and specialty fixed income asset classes such as private credit, commercial mortgage loans and alternative fixed income. Following the close of the transaction, Voya will have a general account of approximately $38B. Voya and Resolution Life expect that almost all Voya employees currently supporting the legacy life and annuity blocks in this transaction will become employees of Resolution Life US. This will ensure continuity of the strong talent managing the blocks, create a strong foundation for Resolution Life US's future, and help support a seamless transition for customers. The transaction, which has been unanimously approved by Voya's board of directors, is expected to close by Sept. 30, 2020, subject to customary closing conditions, including regulatory approvals.

06:06 EST Amazon.com announces free returns on millions of items - Amazon announced that it's making buying - and returning - even more convenient this holiday season by offering customers at least one free return option on millions of items sold on Amazon.com. Free returns are now available for electronics, household items, pet supplies, kitchen appliances and more, in addition to shoes and apparel, no matter the reason for the return. Previously only clothing, shoes and bedding were eligible for at least one free return, and now through Amazon's network of locations, expanding partnerships with other retailers, and the back-end technology that Amazon has worked on for years, customers can return millions of items for free.

06:01 EST Zafgen, Chondrial Therapeutics enter definitive merger agreement - Zafgen and Chondrial Therapeutics announced they have entered into a definitive merger agreement under which Chondrial will become a wholly-owned subsidiary of Zafgen and the stockholders of Chondrial Therapeutics will become the majority owners of Zafgen's outstanding common stock upon the close of the merger. The proposed merger will result in a combined publicly traded, clinical-stage biopharmaceutical company operating under a new name, Larimar Therapeutics. Under the terms of the merger agreement, stockholders of Chondrial will receive shares of newly issued Zafgen common shares in a private placement. Chondrial stockholders are expected to own approximately 60% of the combined company and current Zafgen stockholders will own approximately 40% of the combined company. The percentage of the combined company that Chondrial's stockholders will own as of the close of the transaction is subject to adjustment based on the amount of Zafgen's net cash at the closing date, among other adjustments as described in the merger agreement. Upon closing of the transaction, Zafgen will be renamed Larimar Therapeutics, Inc. and will be headquartered in Bala Cynwyd, Pennsylvania. Carole Ben-Maimon, M.D. will serve as President and Chief Executive Officer of the combined company. The merger agreement provides that the Board of Directors of the combined company will be comprised of Peter Barrett, Ph.D., Carole Ben-Maimon, M.D., Thomas Daniel, M.D., Thomas Hamilton, Jonathan Leff, Frank Thomas, and one designee of Deerfield Management. The merger agreement has been unanimously approved by the Board of Directors of each company. The transaction is expected to close in the first half of 2020, subject to approvals by stockholders of each company and other customary closing conditions.

05:44 EST Lionsgate, Airtel announce strategic alliance - Bharti Airtel, Lionsgate, and Starzplay have joined hands to bring premium content from Lionsgate Play to customers in India. "The partnership will give Airtel customers access to a deep portfolio of critically acclaimed and beloved Lionsgate feature film content, which will be available on Airtel Xstream app and web platforms. Airtel Xstream app has a catalogue of over 10,000 movies and shows along with 400 TV channels. By expanding the Indian market's access to premium quality content on a leading digital platform, the collaboration is expected to be a compelling value proposition for the Indian cinephile audience. The content will be available in multiple Indian languages and spread across the horror, comedy, drama, action, thriller, documentary and other genres."

05:27 EST Volvo, Isuzu Motors intend to form strategic alliance - The Volvo Group and Isuzu Motors today signed a non-binding Memorandum of Understanding with the intent to form a strategic alliance within commercial vehicles in order to capture the opportunities in the ongoing transformation of the industry. In a first step, the intention is to establish a global technology partnership and to create a stronger, combined heavy-duty truck business for Isuzu Motors and UD Trucks in Japan and across international markets. This will entail transferring ownership of the complete UD Trucks business globally from the Volvo Group to Isuzu Motors in order to accelerate growth by leveraging greater volumes and complementary capabilities. There is great complementarity between the two Groups from both a geographical and product line perspective, with further opportunities to be explored over time. The enterprise value for the complete UD Trucks business is approximately SEK 22 billion as per the end of November and will be subject to the final scope of the business transferred and Isuzu Motor's due diligence. The transaction is expected to, at the time of closing, result in a positive impact on the Volvo Group's operating income of approximately SEK 2 billion and increase the Volvo Group's net cash position by approximately SEK 22 billion. "The Volvo Group and Isuzu Motors have a well-established relationship on medium-duty trucks in Japan based on mutual respect, shared values and win-win spirit. We see great potential to extend our cooperation within technology, sales and service as well as other areas going forward, for the benefit of our customers and business partners," says Martin Lundstedt, President and CEO of the Volvo Group. "Our UD Trucks colleagues have done a great job to improve performance in recent years and the alliance opens up a great opportunity to continue the successful journey."

05:21 EST Aduro says Novartis removed ADU-S100 from portfolio based on data - Aduro Biotech disclosed last night that it received notification from Novartis (NVS) that Novartis has removed ADU-S100, an intratumoral STING pathway activator product candidate, from its portfolio based on clinical data generated to date. This decision is not the result of any safety concern, Aduro added. Novartis has begun winding down the ongoing Phase 1b dose escalation clinical trial to evaluate the safety and preliminary efficacy of ADU-S100 in combination with spartalizumab. Novartis' investigational anti-PD-1 monoclonal antibody, in advanced, metastatic treatment-refractory solid tumors or lymphomas, and no dose expansion cohorts will be opened. Enrollment in this Phase 1b trial will be discontinued and, per protocol, patients currently enrolled or consented in this trial will remain on treatment until progression or toxicity. Novartis is also terminating enrollment of the ongoing Phase 1 clinical trial arm evaluating ADU-S100 in relapsed and refractory melanoma in combination with Yervoy, an approved anti-CTLA-4 antibody. Per protocol, patients currently enrolled or consented in this trial will remain on treatment until progression or toxicity. Under the collaboration and license agreement with Novartis, Aduro is continuing to enroll the Phase 2 clinical trial of ADU-S100 in combination with Keytruda. The collaboration and license agreement between Novartis and Aduro otherwise remains in effect, and both parties continue to jointly pursue STING pathway activation through systemic delivery as a therapeutic strategy, the company added. Shares of Aduro Biotech are down 13% to $1.00 in premarket trading.