Stockwinners Market Radar for April 20, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

20:30 EDT Tyson Foods to resume limited operations at Columbus Junction plant in Iowa - Tyson Fresh Meats, the beef and pork subsidiary of Tyson Foods, will resume limited operations at its pork plant in Columbus Junction, Iowa, on Tuesday after being idle for two weeks due to COVID-19 concerns.

19:51 EDT Stellus Capital to transition to quarterly dividend - Stellus Capital announced that it will change its dividend payment schedule from monthly to quarterly beginning with the quarter ended June 30, 2020 to better match the dividend with the timing of income received by the company. Upon approval by the Board of Directors, the company will announce the details of a dividend for the second quarter of 2020 at a later date. The company previously paid an aggregate of 34c per share through a monthly dividend of 11.33c per share for the first quarter of 2020. Moving to a quarterly dividend payment schedule will allow the company more time to better understand the impact that the COVID-19 pandemic has on our portfolio companies' liquidity and operations.

19:03 EDT MediciNova receives notice of allowance for new patent covering MN-166 - MediciNova announced that it has received a Notice of Allowance from the U.S. Patent and Trademark Office for a pending patent application which covers MN-166 for the treatment of glioblastoma. This new patent has improved therapeutic claims compared to the first patent which covers MN-166 for the treatment of glioblastoma, which was granted last year, and has a later expiration date than the first patent. Once issued, the patent maturing from this allowed patent application is expected to expire no earlier than February 2039. The allowed claims cover a method of treating a patient diagnosed with glioblastoma or recurrent glioblastoma, wherein the patient expresses methylated MGMT, using MN-166 in combination with one or more other therapeutic agents including temozolomide, carmustine, bevacizumab, procarbazine, hydroxyurea, irinotecan, lomustine, nimotuzumab, sirolimus, mipsagargin, cabozantinib, onartuzumab, patupilone, and recombinant oncolytic poliovirus. The allowed claims cover a wide range of doses of MN-166 during an optionally repeating dosing cycle. The allowed claims also cover different types of glioblastoma including classical glioblastoma, proneural glioblastoma, mesenchymal glioblastoma, and neural glioblastoma.

18:40 EDT IBM CEO: Our strong liquidity position allows us to secure our dividend - In an interview on CNBC's Mad Money, Arvind Krishna said IBM's results reflect the high value segments in which the company thrives. Krishna expects to maintain the dividend going forward. He said AI can help improve human productivity, and the COVID-19 crisis will make AI adoption faster. In closing, he noted that he has "immense confidence" that IBM's strategy will allow for long-term growth.

18:35 EDT BHP Group CEO says China demand strengthened in recent weeks - BHP CEO Mike Henry says: "While demand in China has strengthened in recent weeks, we expect other major economies, including the US, Europe and India, to contract sharply in the June 2020 quarter. The situation remains fluid, however, with our strong financial position and low-cost operations, our business is resilient, with capacity to generate solid cash flow through this period and emerge well placed as the global economy recovers."

18:19 EDT Steel Dynamics up over 4% at $23.50 after Q1 earnings beat

18:10 EDT Scientific Games gets new 6-year contract from South Carolina education lottery - Scientific Games won a new, six-year contract from the South Carolina Education Lottery for its performance-focused Scientific Games Enhanced Partnership program to drive maximum profits for educational programs in the state. The company, which is the primary provider to 10 of the Top 10 performing lotteries in the world, has designed and manufactured every instant game sold in South Carolina since the Lottery launched in 2002, propelling it to the No. 3 ranked instant game lottery in the world.

18:04 EDT ESPN says first two episodes of 'The Last Dance' averaged 6.1M viewers - Disney's ESPN said that the first two episodes of "The Last Dance," the 10-part documentary series about Michael Jordan and the Chicago Bulls' quest to win a sixth NBA title in eight years, averaged 6.1M for episodes 1 and 2 across ESPN & ESPN2 from 9-11 p.m. ET. Of those 6.1M, 3.5M were in the 18-49 demo. Episode 1 averaged 6.3M viewers and episode 2 averaged 5.8M viewers. On ESPN alone, the two hours averaged 5.3M viewers, with episode 1 delivering 5.7M viewers and episode 2 delivering 5M. The premiere episodes rank as the two most-viewed original content broadcasts on ESPN Networks since 2004, surpassing the 2012 film "You Don't Know Bo." Reference Link

17:46 EDT SPDR Gold Shares holdings rise to 1,029.59MT from 1,021.69MT - This is the highest level of holdings since May of 2013.

17:34 EDT Choice Hotels announces ~15% in workforce reductions - As part of the company's ongoing strategy to improve its ability to sustain the long-term health of the business and to preserve financial flexibility during the COVID-19 crisis, on April 20, 2020, the company informed its workforce that approximately 200 of the company's domestic employees will be furloughed. The furlough period will generally begin on April 30, 2020 and is currently expected to continue through June 30, 2020, subject to reevaluation by the company. During the furlough period, impacted employees will continue to be covered under the company's healthcare plans in which they currently participate, and the company will cover each impacted employee's portion of their healthcare premiums. In addition, the company is also laying off approximately 20 employees primarily in connection with the consolidation of its call center operations. Combined, these workforce reductions will impact nearly 15% of the company's domestic employees.

17:25 EDT IBM says it remains fully committed to its dividend - Says remains focused on helping clients adapt to immediate challenges of COVID-19. Says leveraging flexible supply chain. Says cloud performance was strong in Q1. Says bundling offers to address needs of clients. Says key area of focus is that IBM leads in cloud and AI. Says revenue growth was modest in Q1. Says over the last few weeks has faced shift in client priorities, that impacted software especially. Says was in line with expectations in February before COVID-19. Says ended March with cash balance of $12B. Says does not expect change in pension plan contributions. Says expects near-term pressure in transactions. Comments taken from Q1 earnings conference call.

17:16 EDT Nabors Industries announces 1-for-50 reverse stock split - Nabors announced that its Board of Directors has approved a reverse stock split ratio of its common shares of 1-for-50 that will be effective as of 5:00 p.m. Eastern Time on April 22, 2020. Nabors' common shares will begin trading on the New York Stock Exchange on a split-adjusted basis when the market opens on April 23, 2020. The reverse stock split will result in 50 pre-split common shares automatically combining into one new common share, without any action on the part of the shareholders. Nabors' authorized number of common shares will also be proportionally decreased from 800,000,000 to 16,000,000 common shares and the par value of each common share will be proportionally increased from $0.001 to $0.05. In addition, Nabors' authorized common share capital will increase by 100% following the proportional reduction in the number of authorized common shares as a result of the reverse stock split.

17:00 EDT Progressive Leasing finalizes settlement pact with FTC - Progressive Leasing, a subsidiary of Aaron's, announced a final settlement with the Federal Trade Commission resolving all matters raised by the company's previously disclosed FTC investigation related to the adequacy of consumer disclosures. Under the settlement, which is subject to court approval, Progressive will pay $175 million to the FTC with no admission of wrongdoing. "This settlement allows Progressive to stay focused on continuing to offer competitive, flexible and affordable purchase options to credit-challenged consumers while delivering an exceptional and fully transparent lease-to-own experience. Although we disagree with the FTC's allegations, we have agreed to settle this matter to avoid the expense, management distraction and uncertainty caused by protracted litigation," said John Robinson, Chief Executive Officer of Aaron's.

16:49 EDT Vereit has received approximately 75% of April rent as of 4/17 - As of April 17, Vereit has received approximately 75% of April rent, and expects to receive an additional 2% paid in arrears by a Government agency tenant. Vereit is in continuing discussions with tenants regarding unpaid rent. The company said, "Our dedicated property type asset management teams have been in discussion with tenants to understand the impact of COVID-19 on their businesses. Rent relief requests have been received for tenants representing approximately 33% of rental income on an annualized basis, including some tenants that paid April rent. These requests vary in timeframes, but are concentrated within the two to four month range. Whether Vereit enters into any lease amendments or agreements with its tenants to grant rent relief will be decided as appropriate, based on each tenant's unique financial and operating situation. The company is evaluating each tenant request on a case-by-case basis, including analyzing metrics such as industry segment, corporate financial health, rent coverage, and the tenant's liquidity. The company cannot predict at this time the amount of rent expected to be collected in months subsequent to April 2020."

16:38 EDT Fox Corp. completes acquisition of Tubi - Fox Corporation announced that it has completed its acquisition of Tubi, Inc. The completion of the transaction follows the satisfaction of all customary closing conditions.

16:36 EDT Clearway Energy enters agreement to acquire renewable energy project portfolio - Clearway Energy (CWEN) announced that, through indirect subsidiaries of the company, it has entered into binding agreements related to the drop-down offer from Clearway Group, or CEG, to acquire and invest in a portfolio of renewable energy projects. These agreements commit the company, at closing, to invest an estimated $241M in corporate capital, subject to closing adjustments. The transactions are expected to have a five-year average annual asset CAFD of approximately $23M prior to corporate financing costs. The company signed agreements to acquire 100% of the equity interests in Rattlesnake Flat, which owns the Rattlesnake Wind Project, a 144 net MW wind facility located in Adams County, Washington. The project has a 20-year power purchase agreement with Avista (AVA). The company signed an agreement to acquire CEG's remaining interest in Repowering Partnership, which would give the company sole ownership of the partnership. Repowering 1.0 includes the 161 MW Wildorado and 122 MW Elbow Creek wind projects, which were previously repowered. The company, through an indirect subsidiary, agreed to enter into a new partnership with CEG to repower the Pinnacle Wind Project, a 55 net MW wind facility located in Mineral County, West Virginia. In order to facilitate the repowering, the company will contribute its interests in the Pinnacle Wind Project into the partnership. The existing Pinnacle Wind power purchase agreements with investment grade counterparties continue to run through 2031. As part of the agreement, the company has committed to make an additional payment to CEG, subject to closing adjustments, of $27M in 2031. The company currently intends to fund the transactions with existing corporate liquidity. This funding will occur upon each project achieving its requisite closing conditions including commercial operations, of which the company currently expects all projects to reach by the end of 2020.

16:33 EDT J.M. Smucker says all manufacturing, distribution facilities remain open to date - The J. M. Smucker Company provided a business update regarding COVID-19, specifically the status of its operations, and supply chain, related to the company's fiscal year ending April 30, 2020. The company continues to work closely with its suppliers and customers and has taken actions to ensure business continuity, maximize product availability, and minimize potential disruptions across its supply chain. This includes increasing production at all its manufacturing facilities and expanding the availability of appointments at distribution centers. To date, all company manufacturing and distribution facilities remain open, and none have experienced significant disruptions or illness-related labor shortages associated with the COVID-19 outbreak. The company is closely monitoring the situation at all its plants, including its coffee production and distribution facilities in New Orleans, Louisiana, due to elevated cases of COVID-19 in the area. The company has implemented measures to allocate order volumes to ensure a consistent supply across its retail partners during this record period of demand. Following a significant increase related to consumer "stock-up" shopping during the month of March, the magnitude of demand increases has begun to moderate. However, consumer demand and customer orders remain elevated.

16:31 EDT Wolverine World Wide announces new executive appointments - Wolverine World Wide announced the appointment of Chris Hufnagel, Joelle Grunberg and Tom Kennedy to the company's Executive Leadership Team. Each will now be responsible for multiple brands within the company's diverse portfolio, and report directly to Blake W. Krueger, Wolverine's Chairman, CEO and President. Joelle Grunberg was named Global President of Sperry in February 2020. Grunberg will continue in that role, and Saucony, Keds and the Wolverine Kids Group will also now report to her. Chris Hufnagel is a 10-year veteran of the company and was named Global President of Merrell(R) in September 2019. Hufnagel will continue in that role, and CAT(R) Footwear, Chaco and Hush Puppies will also now report to him. Tom Kennedy is a five-year veteran of the Company and was named Global President of the Wolverine brand in February 2020. Kennedy will continue in that role, and Bates, HYTEST and Harley-Davidson Footwear will also now report to him.

16:30 EDT Grocery Outlet provides business update amid COVID-19 - While April sales trends have moderated compared to the wave of customer pantry-loading experienced in March, comparable store sales trends for the first three fiscal weeks of April were in the positive high-single digits in percentage terms. As shelter-in-place requirements continued, the company has experienced reduced store traffic and as a result year-over-year declines in the number of customer transactions on a comparable store basis. However, the reduction in shopper visits have been more than offset to date by an increase in average transaction size. While specific high-velocity items such as toilet paper have remained challenging to procure in ample quantities, the company continues to purchase high volumes of both opportunistic and everyday products. As a result, the company has been able to manage overall inventory positions to meet higher customer demand. Looking forward, Grocery Outlet expects consumer demand and shopping behavior to continue to evolve which may impact future sales trends. In addition, results may be impacted by existing or possible future governmental requirements concerning the operations of stores or distribution facilities. Although construction activities for the majority of new stores under development continue, the company expects that the timing of new store openings will be negatively impacted as a result of shelter-in-place requirements. Also, the company expects to incur significant additional expenses as a result of the COVID-19 such as incremental cleaning and safety costs, corporate and distribution center personnel expense, costs for protective equipment and supplies at stores and facilities, and supply chain costs. Because of the timing of accelerated customer purchasing beginning in mid-March, only a portion of these costs impacted first quarter preliminary results. However, the company expects that COVID-19 related expenses will more significantly burden our Q2 financial results.

16:24 EDT Rollins announces pay reductions, furloughs - Rollins provides an update regarding its current business operations related to the COVID-19 pandemic. The company said, "Rollins and its family of pest control and wildlife control brands have remained active during the pandemic because the company has been deemed an 'essential service by the Department of Homeland Security. Even as operations have been negatively impacted by the pandemic, our domestic and global facilities remain operational; however, customer retention and sales demand have been impacted depending on the market. Our company has been required to increase its cost in one very critical area to safely operate. Rollins has purchased and provided personal protective equipment for all of its technicians. This will keep both our employees and customers safe and their health protected." Gary Rollins, Vice Chairman and CEO of Rollins, stated, "Our employees are and remain our most valuable asset. Their safety and that of our customers has been and will always be our highest priority and must be safeguarded during this challenging time. The residential pest control segment is positive as Rollins enters into our higher demand months, which is also aided by the start of our mosquito services. Our commercial pest control business has been most adversely impacted, as it crosses multiple verticals such as healthcare, food processing, logistics, grocery, retail and hospitality. Each of these industries is being impacted differently due to the pandemic. Additionally, Rollins recently announced the launch of our brand-new commercial disinfectant service, Orkin VitalClean which should be a positive revenue and profit contributor. As a result of the impact and challenges related to COVID-19, we have taken many proactive and defensive actions, including temporarily furloughing a number of employees in both field operations and our home offices. The furloughs will allow us to rehire the employees as demand improves. Rollins is providing full employee benefits for those affected. Additionally, we have suspended merit increases for the corporate office staff, along with management salary reductions in both field and home office positions. Rollins Chairman, Chief Executive Officer, and Chief Operating Officer have taken a reduction to their base pay of 35%, Senior executives 20-25% and our remaining corporate management 5-10%. Non-management employees have not been impacted by these salary reductions. Rollins has also taken actions to reduce discretionary spending, cancelled all non-essential capital expenditures, travel, meetings, training, contractor and temporary services." "Lower revenue and higher costs related to COVID-19 have caused the company to take these and other steps to aggressively cut company costs, while minimizing the necessary expense related to selling and servicing our customers," stated Eddie Northen, Rollins CFO.

16:20 EDT TechnipFMC awarded significant iEPCI contract from Woodside Energy - TechnipFMC has been awarded a significant integrated Engineering, Procurement, Construction and Installation contract by Woodside Energy Limited for the development of the Lambert Deep and Phase 3 of the Greater Western Flank fields, located offshore Northwestern Australia. TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea production system, flexible flowlines and umbilicals for connection to the Angel platform. This is the second contract under the recently announced five-year iEPCI Frame Agreement between TechnipFMC and Woodside.

16:19 EDT Gold Resource reports preliminary 1Q production of gold 10,142 ounces - Gold Resource reports preliminary 1Q production of 10,142 gold ounces and 407,625 silver ounces.

16:19 EDT Darden reports same restaurant sales down 44.7% Q4 to date through April 19 - The company said, "For the fourth quarter to date through Sunday, April 19, Darden same-restaurant sales declined 44.7%. Based on the last two weeks' performance, our ongoing weekly cash burn rate has improved to approximately $20M including capital expenditures and not including any additional changes to net working capital."

16:17 EDT Albemarle names J. Kent Masters Chairman, President and CEO - Albemarle announced that J. Kent Masters has been elected Chairman, President and CEO, effective immediately. As previously announced, Luke Kissam is retiring from his roles as Chairman, President and CEO of Albemarle for health reasons. Kissam will stay on through June in an advisory capacity to ensure an orderly leadership transition. In addition, Kissam will fulfill the remainder of his current term as a member of the board and will stand for re-election to the board at the company's upcoming annual meeting on May 5. As part of the transition, current board member James O'Brien has been appointed Lead Independent Director. Masters joined the Albemarle board of directors in 2015 and was named Lead Independent Director in 2018. Masters was a non-employee director of Rockwood Holdings, Inc. from 2007 to 2015, when Rockwood was acquired by Albemarle.

16:14 EDT Castor Maritime receives noncompliance notification from Nasdaq - Castor Maritime announced that it has received written notification from Nasdaq indicating that because the closing bid price of the company's common stock for 30 consecutive business days, from February 27 to April 13, was below the minimum $1.00 per share bid price requirement for continued listing on Nasdaq, the company is not in compliance with Nasdaq Listing Rule 5550. The company was also informed by Nasdaq that due to the coronavirus crisis, temporary relief has been granted related to minimum listing bid price requirements and the company's compliance period will be suspended until June 30. Pursuant to the Nasdaq Listing Rule 5810, the applicable grace period to regain compliance is 180 days, or December 28, which includes the temporary coronavirus relief period. The company intends to monitor the closing bid price of its common stock during the compliance period and is considering its options to regain compliance with the Nasdaq minimum bid price requirement. The company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period, which includes the temporary coronavirus relief period. In the event the company does not regain compliance within the grace period and meets all other listing standards and requirements, the company may be eligible for an additional 180-day grace period. The company intends to cure the deficiency within the prescribed grace period. During this time, the company's common stock will continue to be listed and trade on Nasdaq. The company's business operations are not affected by the receipt of the notification.

16:12 EDT Novan jumps 9% after saying it is exploring strategic, financial alternatives

16:11 EDT IBM withdraws FY20 guidance in light of COVID-19 crisis - IBM is withdrawing its full-year 2020 guidance in light of the current COVID-19 crisis. The company will reassess this position based on the clarity of the macroeconomic recovery at the end of the second quarter.

16:10 EDT J. Alexander's enters into cooperation agreement with Ancora Advisors - J. Alexander's, owner and operator of J. Alexander's, Redlands Grill, Stoney River Steakhouse and Grill and other restaurants, announced the expansion of its Board of Directors to seven directors and the appointment of Carl J. Grassi to the Board as part of a cooperation agreement with Ancora Advisors, LLC. Mr. Grassi will serve as a Class II director, with an initial term through the company's 2020 Annual Meeting of Shareholders, and the company has agreed to include Mr. Grassi in the company's slate of director nominees for election at the 2020 Annual Meeting for a three-year term.

16:08 EDT Western Midstream cuts FY20 CapEx view 45% to $450M-$550M - WES expects 2020 capital expenditures between $450M-$550M, representing a 45% reduction to prior guidance. This reduction results from deferred producer activity in all basins and the elimination of associated capital expenditures, other than those expenditures that are necessary to support proper maintenance and long-term asset integrity. WES expects to achieve other cost reductions of approximately $75M through operating and maintenance and general and administrative expense cost-saving initiatives. These cost reductions include savings attributable to Ure's voluntarily election to reduce his 2020 year-over-year cash compensation by at least 45%.

16:07 EDT Stein Mart qualifies for temporary relief from compliance with Nasdaq - Stein Mart announced that it qualifies for recently announced temporary relief from compliance with The Nasdaq Stock Market $1.00 minimum bid price requirement. As previously disclosed, Nasdaq had advised the company that it had until July 6, 2020 to regain compliance with the Minimum Bid Price Requirement. However, on April 16, 2020, Nasdaq announced that, in response to the COVID-19 pandemic and related extraordinary market conditions, it is providing temporary relief from bid price and other requirements through June 30, 2020. As a result, the Company has until September 18, 2020 to regain compliance with the Minimum Bid Price Requirement.

16:06 EDT Western Midstream cuts quarterly cash distribution 50% to 31.1c per unit - Western Midstream Partners announced that the board of directors of its general partner declared a quarterly cash distribution of 31.1c per unit for the first quarter of 2020, which represents a 50% decrease from the fourth-quarter 2019 per-unit distribution. This distribution decrease was undertaken to protect, restore, and strengthen WES's balance sheet as the COVID-19 worldwide pandemic, declining economic activity and energy demand, and depressed commodity prices continue to underpin broad-based market uncertainty. WES's first-quarter 2020 distribution is payable May 14 to unitholders of record at the close of business May 1.

16:04 EDT Webster: HSA Bank to acquire health savings accounts from State Farm Bank - Webster Financial, the holding company for Webster Bank, N.A. and its HSA Bank division, announced that HSA Bank has signed a definitive agreement to acquire the existing health savings accounts of State Farm Bank, F.S.B., a subsidiary of State Farm Mutual Automobile Insurance Company. This acquisition offers State Farm Bank's HSA accountholders new and easy ways to manage their healthcare spending and saving through an industry-leading HSA provider with more than two decades of experience. Under the agreement, approximately 24,000 accounts, including an estimated $140M in deposits, will transition from State Farm Bank to HSA Bank, the nation's leading bank administrator and depository of HSAs. Expected closing is in the second or third quarter of 2020. No other terms of the transaction are being disclosed. The transaction is subject to regulatory approval and customary closing conditions.

16:02 EDT Whiting Petroleum gets non-compliance notice from NYSE - Whiting Petroleum announced that on April 14, 2020, it received a notice from the New York Stock Exchange that the company's common stock is not in compliance with the NYSE's continued listing standard that requires the average closing price of a listed company's common stock be at least $1.00 per share over a consecutive 30 trading-day period. The company intends to pursue measures to cure the share price non-compliance, including through a capital structure upon completion of its restructuring process that supports a sufficient share price to return to compliance with the NYSE continued listing requirement within the applicable cure period.

15:06 EDT Immuron jumps almost 40% after updating Travelan sales - Shares of Australian bio-pharmaceutical firm Immuron are up close to 40% on Monday after the company announced the sales results of its commercially available and over-the-counter gastrointestinal and digestive health immune supplement Travelan for the third quarter of the fiscal year 2020 ending on March 31.North American Travelan sales were up by 95% and worldwide product sales grew by 60% YoY in the third quarter of FY20, reaching AU$983K compared to AU $616K in Q3 FY19. YTD March 31 worldwide sales reached AU $2.67M* marking a healthy 57% increase on the same time last year. In Australia, Travelan sales increased to AU $475K in Q3 FY20, representing a 35% increase over Q3 FY19. Co-operative marketing initiatives with Pharmacies, including a Chemist Warehouse TV advertisement in December 2019 contributed to this growth. YTD March 31 sales in Australia reached AU $1.43M 35% higher than the same time last year. Shares of Immuron are up 38.17% to $3.25 per share in late day trading on Monday

15:03 EDT We Company special committee issues response to Softbank letter - The Special Committee of the board of directors of The We Company sent a letter to the board of WeWork responding to the assertions by SoftBank Group and SoftBank Vision Fund that the committee lacks the authority to represent WeWork and its minority stockholders in the pending litigation against SoftBank. The committee issued the following statement: "SoftBank is once again attempting to use its power as WeWork's controlling stockholder to benefit SoftBank at the expense of WeWork's minority stockholders. SoftBank's latest maneuver attempts to prohibit the Special Committee, which was established and determined to be independent by the full WeWork Board in October 2019 to represent all of the company's minority stockholders, from enforcing the contract negotiated between SoftBank and the Special Committee last year. SoftBank's ploy attempts to prevent the more than 850 current and former WeWork employees who tendered stock worth over $450 million from obtaining any remedy for SoftBank's wrongful conduct. SoftBank's refusal to consummate the tender offer, combined with its plan to limit or disband the Special Committee, demonstrates that it has no regard for its legal obligations or proper norms of corporate governance."

14:44 EDT Uber launches Uber Direct and Uber Connect for home delivery of necessities - Uber announced the official launch of Uber Direct and Uber Connect earlier on Monday, both trial programs that let users get groceries, medications, and other necessities delivered. "Today, we're launching two new projects-Uber Direct and Uber Connect-in select cities. This is just a start: we'll continue to leverage our technology to quickly adapt and meet the changing needs of our business partners and customers, wherever they are. Uber Direct builds upon Uber Eats' recent expansion into grocery and convenience store delivery. We've heard from retailers and manufacturers around the world looking to introduce delivery through Uber, as an operationally efficient way to reach their customers or manage internal delivery needs. Shoppers can now place orders from select retailers and get their items delivered right to their doorstep-without contact. In New York City, we've kicked off a pilot with Cabinet, for as long as supplies last, to quickly connect New Yorkers with over-the-counter medication. In Portugal we're working alongside the national postal service CTT to deliver parcels to their customers. And in Australia, we're coordinating with Greencross to deliver pet supplies from Pet Barn, City Farmers and the Greencross Vets clinics with same-day service." Reference Link

14:24 EDT WideOpenWest CEO Teresa Elder returns to work after medical leave for COVID-19 - On March 29, WideOpenWest announced that Teresa Elder, the company's CEO, had contracted the COVID-19 virus and was taking a temporary medical leave of absence. Effective April 20, Elder has returned from her leave of absence and resumed her duties and responsibilities as CEO of the company.

13:06 EDT Tesla loses bid to invalidate Nikola Motor patents, Nikola's CEO says - Trevor Milton, CEO of Nikola Motor, tweeted: "Tesla loses bid to invalidate @nikolamotor patents in USPTO dispute. USPTO not only upheld Nikola semi truck important patents but refused Tesla's ask to modify our patents. Two billion dollar lawsuit moving forward. We will defend our company's IP no matter who it is." Reference Link

12:08 EDT Facebook to expand symptom tracking survey program globally - Facebook said in a blog post that Carnegie Mellon University Delphi Research Center made public the initial results of their US symptom survey the company promoted on Facebook. Using aggregate data from Carnegie Mellon, Facebook produced its first report and new interactive maps, which the company plans to update daily through this outbreak. Mark Zuckerberg wrote in the Washington Post about how surveys like this can be an important tool in fighting COVID-19 and announced that Facebook is working with faculty from the University of Maryland to expand the program globally. Reference Link

12:00 EDT GasLog rises 16.1% - GasLog is up 16.1%, or 62c to $4.47.

11:38 EDT Tapestry chairman, CEO Jide Zeitlin takes 50% salary reduction - The company said, "The Company is taking the following actions, which will take effect at the beginning of fiscal 2021, unless otherwise noted, and are expected to remain in effect for up to 12 months: A 50% reduction in cash compensation for the Board of Directors; A 50% salary reduction for Chairman and CEO Jide Zeitlin; Salary reductions of 5% to 20%, depending on salary level, for all North America corporate employees above a certain salary threshold. The Company plans to achieve similar compensation reductions outside North America through similar measures; Cancellation of the Company's Annual Incentive Plan for fiscal year 2020, which will result in no bonuses being paid for the current fiscal year; and Elimination of merit salary increases for all employees for fiscal year 2021. In addition, the Company is working to identify long-term efficiency opportunities by accelerating the work already underway as part of Tapestry's multi-year growth agenda. As part of this initiative, to create an agile operating model, the Company anticipates making additional changes in coming months that will result in a streamlined organization, including reductions in the corporate workforce. This work will result in further cost savings and will enable Tapestry to be more responsive to the rapidly changing retail environment. With these additional actions, Tapestry continues to balance support for its employees, customers and business. Looking ahead, the Company will continue to consider near-term exigencies and the long-term financial health of the business as clear steps are taken to mitigate the consequences of the Covid-19 pandemic."

11:36 EDT Tapestry to reduce retail staff in North America by 2,100 part-time associates - The company said, "Maintaining Retail Flexibility: Tapestry will continue to assess reopening stores on a location by location basis globally, in accordance with the guidance of local governments and public health organizations, to determine when we can safely begin reopening for business. Tapestry's store teams are integral to the business as brand ambassadors who balance customer relationships, product knowledge, and sales capability. The Company is committed to supporting these teams, while acknowledging the need to make difficult decisions in light of the environment by: Extending salary and benefits to the vast majority of its North America retail team through May 30th at which time the Company will furlough most assistant store managers and sales associates where stores have not reopened. This extension will continue to support employees and allow for the swift and safe reopening of stores at the appropriate time; Reducing its retail workforce in North America by approximately 2,100 part-time store associates across the three brands effective April 25th. These employees will receive a one-time payment of $1,000 to reduce the financial burden of this action; and Applying for available government payroll subsidy programs in various countries to mitigate payroll expense."

11:28 EDT Galera Therapeutics Inc trading resumes

11:21 EDT Verastem spikes after announcing plans for VS-6766/defactinib combination trial - Verastem announced before the market open that management will host an investor conference call to discuss the clinical data from the ongoing investigator-initiated study investigating VS-6766, its RAF/MEK inhibitor, in combination with defactinib, its FAK inhibitor, in patients with KRAS mutant advanced solid tumors. The conference call coincides with the presentation of this data at the upcoming American Association for Cancer Research, or AACR, 2020 Virtual Annual Meeting I. The investor conference call is scheduled for Monday, April 27 at 8:00 am ET. Verastem is higher by over 22% to $3.87 per share after the company said it plans to initiate discussions with regulatory authorities during the first half of 2020, with the goal of commencing a registration-directed trial investigating the VS-6766/defactinib combination as soon as possible.

11:05 EDT Infosys says DN Prahlad resigned from Board, Uri Levine added - Infosys said: "DN Prahlad, Independent Director, has resigned from the company to devote more time for his other business commitments with effect from April 20, 2020. The Board placed on record its appreciation for the services rendered by him during his tenure. The company announced the appointment of Uri Levine as an Independent Director of the Company, effective April 20, 2020, based on the recommendations of the Nomination and Remuneration Committee of the Board. The appointment is for a period of three years and is subject to the approval of shareholders. Uri Levine is a passionate serial entrepreneur and disruptor. He co-founded Waze, the world's largest community-based driving traffic and navigation app, with more than 500 million drivers around the globe, which was acquired by Google on June 2013 for more than $1.1 billion. Uri has been in the high-tech business for the last 30 years with half of them in the start-up scene."

10:24 EDT Opko Health rises after unit selected by Rite Aid for COVID-19 testing - Rite Aid (RAD) announced earlier that it continues to expand COVID-19 testing sites with eleven new locations opening Wednesday, April 22, in Delaware, Idaho, Michigan, New York, New Jersey, Ohio, Pennsylvania, and Virginia through its partnership with the U.S. Department of Health and Human Services. Testing will be available at no cost to eligible individuals who meet criteria established by the CDC, Rite Aid said. Rite Aid has partnered with Verily and will use its Baseline COVID-19 Program to provide screening, scheduling and return of results to participants for Rite-Aid testing sites. Rite Aid also noted earlier that it selected BioReference Laboratories to provide COVID-19 laboratory testing to all drive-up locations with the goal of flattening the curve through accessible diagnostic testing. BioReference Laboratories is an Opko Health (OPK) company. Shares of Opko Health are up 27c, or 16%, to $1.97 in early trading.

10:04 EDT Nokia working with U.S. Cellular to boost spectrum capacity after FCC decision - Nokia announced that it is working with U.S. Cellular to boost capacity in several markets, including the Northwest Region of the U.S., where networks are experiencing increased traffic demand due to COVID-19. The Federal Communications Commission, or FCC, has granted U.S. Cellular temporary authority to use additional spectrum to boost connectivity due to the anticipated spike in remote working caused by the COVID-19 pandemic and U.S. Cellular and Nokia are working together to deploy this expanded spectrum to markets experiencing increased traffic demand, the companies said. Also, U.S. Cellular is using Nokia Endpoint Security solutions to safeguard customers from an increase in COVID-19 malware schemes, the companies added.

10:00 EDT BP Prudhoe Bay falls -11.0% - BP Prudhoe Bay is down -11.0%, or -51c to $4.14.

10:00 EDT ProPetro Holding falls -14.0% - ProPetro Holding is down -14.0%, or -49c to $3.01.

10:00 EDT Montage Resources rises 11.8% - Montage Resources is up 11.8%, or 45c to $4.25.

09:52 EDT Halliburton has no plans to chase U.S. market share in downturn

09:47 EDT Apergy falls -10.5% - Apergy is down -10.5%, or -78c to $6.68.

09:47 EDT Velocity Financial rises 7.4% - Velocity Financial is up 7.4%, or 23c to $3.33.

09:47 EDT Eros International rises 31.0% - Eros International is up 31.0%, or 94c to $4.00.

09:38 EDT Muddy Waters says 'run - not walk - from' New Pacific Metals - In response to Hindenburg Research's short report on New Pacific Metals (NUPMF), Carson Block's Muddy Waters tweeted, "I know nothing about this company other than Rui Feng is very, very bad news. Based on that alone, investors should run - not walk - from this thing." Hindenburg also sees up to 45% downside in shares of Silvercorp Metals (SVM), which owns a 29% stake in New Pacific.

09:36 EDT Halliburton will update any decision on payout after board meeting in May

09:31 EDT Mnuchin 'glad to see' Shake Shack returning Paycheck Protection Program loan - Treasury Secretary Steven Mnuchin tweeted, "I was glad to see that @shakeshack will be returning the #ppploan #CARESAct @SBAgov."

09:29 EDT Merit Medical designs, produces sample collection and transport kit - Merit Medical Systems announced that it has commenced production of a sample collection and transport kit, comprised of a nasopharyngeal swab and transport vial, used to collect specimens with suspected presence of Coronavirus Disease 2019. The kit will be produced at Merit's facility in South Jordan, Utah, with other Utah companies providing various services. For the last several weeks, officials from Merit and the State of Utah have been working together in anticipation of an impending swab shortage. Merit has received its first purchase order for the product for $2.4M from the State of Utah.

09:26 EDT Newtek Small Business Finance obtains $548M in E-Tran numbers for PPP loans - Newtek Business Servicesannounced that Newtek Small Business Finance, the Company's nationally licensed lender under the U.S. Small Business Administration Section 7(a) Program, currently expects to fund upwards of $340 million of PPP loans by the close of business on Tuesday. As of today, NSBF has approved and obtained SBA E-Tran numbers for $548 million of PPP loans, since the PPP program commenced. NSBF further estimates that the $548 million of SBA loan numbers received will result in approximately 60,000 employees being retained on the payroll of our borrowers. Finally, NSBF has additional prospective borrowers compiling their information to be processed for PPP loan approval, that could represent an additional $600 million of PPP loans, and presently estimates that, based on its current pipeline, and contingent on further government appropriations to the PPP, it could fund in excess of $1.0 billion in PPP loans. Stifel Financial Corp. and UBS, as well as other existing partners of Newtek, are providing NSBF with referrals and additional financing to originate PPP loans.

09:23 EDT Amazon Prime Video to premiere Genius Brands 'Stan Lee's Superhero Kindergarten' - Genius Brands International "Genius Brands" (GNUS) announced the spring 2021 premiere of its new children's animated series, Stan Lee's Superhero Kindergarten, starring Arnold Schwarzenegger, on Amazon Prime (AMZN). Amazon Prime joins Alibaba Group's (BABA) which will launch the series in China on its video streaming platform for kids, Youku.

09:21 EDT Halliburton: Industry always bounces back, this downturn is 'no different'

09:19 EDT Halliburton cutting all salary increases for workers in 2020 - Halliburton is also cutting another layer of North American management. It is cutting its technology budget by 25%.

09:17 EDT Innovation Pharmaceuticals says brilacidin identified in molecular screening - Innovation Pharmaceuticals repots that based on molecular screening of 11,552 compounds comprising already FDA-approved drugs and those in clinical testing, Brilacidin, the Company's defensin-mimetic drug candidate targeting COVID-19, was identified as one of the most promising potential inhibitors of SARS-CoV-2, the novel coronavirus responsible for COVID-19. The researchers who conducted the study concluded: "Clearly, these compounds should be further evaluated in experimental assays and clinical trials to confirm their actual activity against the disease." Brilacidin has shown, in cellular assays, direct antiviral activity against SARS-CoV-2, and has been selected for further antiviral testing by researchers at the U.S. Regional Biocontainment Laboratory who conducted these initial tests. A majority of drugs undergoing such testing at the RBL do not meet this threshold. The next phase of Brilacidin's testing at the RBL is scheduled to commence shortly, with lab results to be shared upon completion. The Company also continues to engage in discussions with health care provider networks and hospitals both in the United States and Europe regarding options to rapidly advance Brilacidin testing into human trials.

09:16 EDT Halliburton sees significant operational international disruption in Q2 - Sees international spending down 10% on a FY basis.

09:14 EDT Usio secures $814,000 loan through CARES Act PPP - Usio announced it has received funding under a Paycheck Protection Program Term Note with The Bank of San Antonio. This was completed through the Paycheck Protection Program as part of the recently enacted Coronavirus Aid, Relief, and Economic Security Act, administered by the U.S. Small Business Administration. Under the terms of the Note, Usio has received total proceeds of approximately $814,000 bearing interest at 1% per annum with a maturity date of April 15, 2022. In addition, principal and interest payments will be deferred for the first six months of the loan. The loans are subject to the terms and conditions applicable to loans administered by the U.S. Small Business Administration under the CARES Act. The company will use the proceeds for payroll costs and other permitted expenses. Under the terms of the PPP, the principal may be forgiven if the Loan proceeds are used for qualifying expenses as described in the CARES Act, such as payroll costs, benefits, rent, and utilities.

09:12 EDT UPS supports SanMar by shipping over 1.7M face masks - UPS announced that it is operating flights to deliver 1.7 million face masks made by SanMar. UPS is honored to be a part of SanMar's extraordinary national Coronavirus response. SanMar converted its clothing production facilities in Honduras and Tennessee to support protective mask production and distribution. SanMar reached out to UPS and the company moved quickly to provide supply chain and global shipping services for each phase of the collaboration. Since the program began at the end of March, SanMar has manufactured more than 100,000 masks at its Tennessee production facility. When the masks are completed, UPS will ship the life-saving cargo to healthcare providers throughout the U.S. Production and distribution started in April of more than 1.7 million masks produced at SanMar's Honduras location for shipment to their Jacksonville, FL distribution center. The masks will be shipped via UPS Air Freight on pallets and then repackaged to the correct quantities for distribution by UPS's small package division to healthcare providers around the United States.

09:11 EDT UPS supports SanMar by shipping over $1.7M face masks - UPS announced that it is operating flights to deliver 1.7 million face masks made by SanMar. UPS is honored to be a part of SanMar's extraordinary national Coronavirus response. SanMar converted its clothing production facilities in Honduras and Tennessee to support protective mask production and distribution. SanMar reached out to UPS and the company moved quickly to provide supply chain and global shipping services for each phase of the collaboration. Since the program began at the end of March, SanMar has manufactured more than 100,000 masks at its Tennessee production facility. When the masks are completed, UPS will ship the life-saving cargo to healthcare providers throughout the U.S. Production and distribution started in April of more than 1.7 million masks produced at SanMar's Honduras location for shipment to their Jacksonville, FL distribution center. The masks will be shipped via UPS Air Freight on pallets and then repackaged to the correct quantities for distribution by UPS's small package division to healthcare providers around the United States.

09:10 EDT Halliburton CEO: Company has 'sufficient' liquidity

09:09 EDT Kaiser Aluminum says all facilities continue to operate - The company said, "The Company's top priority has, and continues to be, focused on the health and safety of its employees. All of the Company's facilities have continued to operate during shelter-in-place mandates due to its inclusion in the Critical Manufacturing Sector as defined by the U.S. Department of Homeland Security and recognition as an essential business by state and local government authorities. The Company is working closely with its employees and local union officials to stress the importance of following CDC guidelines to mitigate the risk of exposure to COVID-19. In addition, where possible, employees will continue working remotely until they can return to normal operations. The Company has also implemented additional health and safety protocols for all outside contractors and service providers required to enter its facilities and has developed contingency plans at each of its facilities for responding to employees experiencing symptoms, those who may have been in close proximity to anyone displaying symptoms and any employees testing positive for the virus. Since late February 2020, global air travel has slowed dramatically as a result of the COVID-19 pandemic and large commercial airframe companies and their customers, the airlines, have been significantly impacted. The two largest airframe manufacturers have reduced their build rates and recently curtailed operations on a temporary basis. As a preferred strategic supplier, the Company is working in partnership with its customers to meet their current needs while also preparing for production levels to ramp up. The Company expects passenger traffic will recover as it has historically following other crises, and the subsequent growth in aircraft builds will continue, represented by a solid backlog for commercial aircraft. Market conditions for defense applications remain intact. The Company maintains a strong position on many legacy fighter programs in this market and is a significant supplier to the F-35 fighter program. Automotive tier one suppliers and original equipment manufacturers have temporarily closed facilities and suspended operations in response to COVID-19. Although the general industrial business environment remained steady through March 2020, recent shutdowns of non-essential businesses served by this end market have shown indications of slowing demand. The Company remains well positioned with strong, longstanding customer relationships, and is flexing costs in response to changes in business activity while continuing to support these automotive and industrial customers. Strong supplier relationships are also critical to the Company's long-term success and the Company remains current on all of its supplier payment obligations. At this point, the Company has had no supply issues at any of its facilities, and its suppliers continue to meet all its material requirements."

09:08 EDT Kaiser Aluminum focused on preserving liquidity amid COVID-19 pandemic - "We do not know how long the pandemic will last, what implications it will have on our business or what type of economic recovery we will experience as we look forward. However, we do know that for more than a decade, our business cycle strategy has served us well through a wide range of economic cycles - including the Great Recession in 2009 - and has prepared us to address the challenges and potential opportunities presented by the COVID-19 pandemic," said CEO Jack Hockema. The Company's longstanding business cycle strategy has consistently focused on being well prepared for unexpected economic adversity. The approach and execution of this strategy depends on several critical components including: a strong liquidity position to weather a variety of economic scenarios; a strong balance sheet with conservative debt leverage and financial flexibility to access diverse sources of capital; strong and deep customer partnerships and a preferred supplier position; and a highly variable cost structure to quickly flex with changes in business conditions. The Company is currently adjusting the business in response to the pandemic economy, while also positioning for an economic rebound and potential opportunities to enhance its competitive position. The focus is on preserving liquidity, which as of March 31, 2020 was $688 million. Share repurchases were suspended in mid-March, and the Company is flexing costs with changes in business activity and limiting capital spending to its critical sustaining capital projects. In addition, as the Company had indicated during its fourth quarter earnings call, it will continue to monitor market conditions to determine timing of the various modules contained within the $375 million, multi-year expansion project at its Trentwood facility, including the initial $145 million planned investment in a new plate stretcher.

09:07 EDT Meredith reports strong magazines subscription solicitations - Meredith provided business. Highlights include: company was on track through the first two months of its Q3 to deliver results within the range of guidance communicated on February 6. In Meredith's FY20 first half, approximately 45% of revenues were generated from consumers, compared to 27% ten years ago. Significant shifts in Meredith's revenue mix during that time include increased retransmission consent, brand licensing and e-commerce revenues. Meredith's National Media Group continues to produce industry-leading and trusted content with no delays to production or distribution. Magazine subscription solicitations have been strong, with renewal orders from the most recent campaign performing above expectations. This is important because approximately 95% of all Meredith magazines are sold via subscriptions. Consumer traffic to Meredith's digital properties grew in the high-single digits for the Q3 compared to the prior-year period, and is up 40% so far in April. Given the current lifestyle changes with Americans spending more time at home, Meredith's content is resonating more than ever. Meredith Local Media Group television stations have increased news hours, and are seeing viewership growth of 15%-40%, in morning, evening and late newscasts. Additionally, traffic to Meredith's local news digital sites was up 50% in the Q3. This proves once again that viewers turn to their trusted local brands during times of crisis. Importantly, Meredith continues to offer local businesses the most proven and cost-effective way to reach these audiences during such a critical period. At March 31 Meredith had approximately $100M of cash and cash equivalents and $35M drawn on its revolving credit facility, compared with December 31, 2019, when Meredith had $21M of cash and cash equivalents and $55M drawn on its committed revolving credit facility. Meredith has access to additional liquidity through its $350M revolving credit facility for general corporate purposes.

09:07 EDT Halliburton: Adjusted worker shifts to maximize social distance - Comments taken from Q1 earnings conference call.

09:03 EDT Raytheon Missiles & Defense selected to develop LRSO cruise missile - The U.S. Air Force announced plans to continue with Raytheon Missiles & Defense, a business of Raytheon Technologies (RTX), on the development of the Long-Range Standoff cruise missile, a strategic weapon that will replace the service's legacy Air-Launched Cruise Missile. In 2017, the U.S. Air Force awarded Raytheon and Lockheed Martin (LMT) contracts for the Technology Maturation and Risk Reduction phase of the program. The Raytheon Missiles & Defense LRSO team recently passed its preliminary design review and is on track to complete the TMRR phase of the defense acquisition process by January 2022. Contract negotiations for the engineering and manufacturing development phase, with a strong focus on schedule realism, affordability, and cost-capability trades, will start in fiscal year 2021. The contract award is anticipated in fiscal year 2022.

08:51 EDT Blink Charging appoints Brendan Jones as COO - Blink Charging announced the appointment of industry powerhouse Brendan Jones as its new COO, effective April 20, 2020. Jones joins Blink following his role as COO at Electrify America, LLC, from September 2016 to March 2020.

08:50 EDT Avita Medical seeks to redomicile to United States from Australia - Avita Medical announced its intention to redomicile the company and its subsidiaries, Avita Group, from Australia to the United States of America by way of a scheme of arrangement under Part 5.1 of the Corporations Act 2001. To implement the redomiciliation, the company has entered into a Scheme Implementation Agreement dated April 20 with Avita Therapeutics, Inc., a newly-formed company incorporated in Delaware in the United States. If the redomiciliation is implemented, Avita US will become the new holding company of the Avita Group; shareholders will effectively exchange their shares in the company for equivalent securities in Avita US; and the existing listing of the company on the Australian Securities Exchange, being the company's current primary listing, and on the NASDAQ Stock Market, being the company's current secondary listing, will be inverted and replaced with a new listing of Avita US on NASDAQ, as its future primary listing, and on the ASX, as its future secondary listing. The redomiciliation is subject to regulatory and court approvals, as well as approval by the company's shareholders at an extraordinary general meeting which will be convened, Avita Medical noted.

08:46 EDT Elanco appoints Racquel Harris Mason as Chief Marketing Officer - Racquel Harris Mason joins Elanco as executive vice president and Chief Marketing Officer, effective immediately. Her recent roles include serving as senior vice president at Coca-Cola (KO) for the McDonald's Division USA and vice president, Coca-Cola and Coke Zero brands.

08:43 EDT ECMOHO, L&P Cosmetic announce comprehensive strategic partnership - ECMOHO and L&P Cosmetic have entered into a comprehensive strategic partnership, in which ECMOHO will provide integrated omni-channel marketing services for L&P Cosmetic by introducing MEDIHEAL to Chinese consumers who are keen on Korean beauty products. ECMOHO will leverage its expertise in data analytics and digitization to support MEDIHEAL in reaching Chinese consumers, offering consumer insights and leveraging online and offline integrated channels to provide consumers with personalized products. Through data analytics, ECMOHO can precisely target consumers with the most appropriate products based on their gender, skin characteristics, geographic region, and climate.

08:42 EDT Acasti Pharma awarded notice of allowance for patent in Canada - Acasti Pharma announced that it has received a Notice of Allowance for its second composition matter patent to be awarded by the Canadian Intellectual Property Office. This new patent expands the Company's existing claims to include any composition containing EPA and DHA, where at least 50% of the composition consists of phospholipids.

08:38 EDT Overstock.com approaches record date for digital dividend - Overstock.com is approaching the record date for its Digital Voting Series A-1 Preferred Stock dividend. All Overstock shareholders as of April 27, 2020 will receive the dividend, which will be distributed on a 1:10 basis in shares of OSTKO on May 19, 2020. Eligible shareholders do not need to take any action to receive the dividend. The Series A-1 shares have been granted DTC eligibility, allowing them to be eligible for depository and book-entry services at DTC, and the company has filed its prospectus supplement in connection with the dividend. Below are key dates for the dividend issuance: Ex-Dividend Date: April 24, 2020; Record Date: April 27, 2020; Distribution Date: May 19, 2020.

08:37 EDT MICT announces Micronet receives FCC authorization for its new tablet - MICT, announced that Micronet, an entity in which MICT holds a voting interest of 37.48%, has received U.S. Federal Communications Commission, or FCC, authorization for its new, advanced rugged tablet, for 2.4GHZ, 5GHZ and LTE bands. With the launch of SmarTab8, Micronet believes that it has significantly improved its offering to the fast-growing broader telematics market. The SmarTab8 is the most advanced solution in Micronet's offering, joining the family of the SmarTab5, SmartHub and SmartCam, which are all based on an open software platform and Android operating system, enabling running third party applications and easing development efforts for customers, while generating recurring software-as-a-service revenue for Micronet.

08:36 EDT Cocrystal Pharma appoints Roger Kornberg to board of directors - Cocrystal Pharma announced the appointment of Dr. Roger Kornberg to its Board of Directors. Dr. Kornberg has served as the Company's chief scientist and chairman of the Scientific Advisory Board. Dr. Kornberg is a member of the U.S. National Academy of Sciences and the Winzer Professor of Medicine in the Department of Structural Biology at Stanford University. He has been a member of the faculty of Stanford University since 1978. In 2006, Dr. Kornberg was awarded the Nobel Prize in Chemistry in recognition for his studies of the molecular basis of Eukaryotic Transcription, the process by which DNA is copied to RNA.

08:32 EDT Rockwell Medical appoints Russell Ellison as president, CEO - Rockwell Medical announced that the Board of Directors has appointed Russell Ellison, M.D., M.Sc. as President and CEO, effective immediately. Ellison will continue to serve as a member of the Company's Board. Stuart Paul has resigned as President and CEO and as a member of the Company's Board of Directors. Ellison's broad experience and previous leadership positions include CEO of the privately held biotechnology company, Promedior; President and CEO of Bond Biosciences, Inc., a biotech start-up developing a drug addressing the toxic impact of iron overload in the body; Executive Director of Torreya Advisors, LLC, a life sciences investment banking firm.

08:29 EDT NetSol CEO calls early recovery signs in China operations 'highly encouraging' - "As an international organization, we have seen the impact of the COVID-19 global pandemic from multiple angles and constituencies," said CEO Najeeb Ghauri. "Because of our substantial operations in the APAC region, we were able to realize the importance of proactively responding to the virus outbreak to ensure for the health and safety of our employees worldwide. For the past month-plus period, we've been able to effectively work from home and maintain our same level of service upon which we pride ourselves. Unfortunately, the global economic slowdown has had an impact on our operations, which will continue to have a pronounced effect for the foreseeable future. To address these issues, we have moved swiftly and decisively in reducing our costs in a number of non-core areas and have also elected to take salary reductions in the near-term. Our prudent fiscal approach over the last few years has also resulted in a substantial cash position for NETSOL, which gives us additional support going forward. While COVID-19 has also impacted our ability to travel and meet face-to-face with prospects, our teams are still very busy in conducting virtual demos, presentations and negotiations. In the unpredictable environment we currently find ourselves, there have been understandable delays in decision making from potential new customers, both for our flagship NFS Ascent and Otoz. However, the early recovery signs we've seen through our China operations are highly encouraging, and we hope to see a similar response globally through the major 'flattening-the-curve' efforts that remain ongoing. Looking ahead, we are monitoring all aspects of our global operations. As a digital-first and SaaS-focused organization, we are also constantly evaluating innovative and flexible ways to manage our cost structures without impacting the delivery and implementations of projects in all markets."

08:28 EDT NetSol Technologies announces average salary reductions of 20% company-wide - The company said, "In an effort to mitigate the ongoing financial impact, employees of NETSOL and its subsidiaries have taken an average reduction in salary of nearly 20% company-wide, including the Company's management team and Board of Directors. Strategic programs and new initiatives such as Otoz and the Company's Innovation Lab continue to operate on a reduced allocation and remain operational. Additionally, budgets for marketing, travel, and other postponed operational activities have been substantially reduced, resulting in expected costs savings of $5 million on an annualized basis. Should business conditions improve during this timeframe, these estimates are subject to change. The Company's proactive response efforts to-date have allowed NETSOL to retain all employees at this time. As a digital-first organization, the Company has taken steps to ensure that its business continuity plan remains intact and that all implementations and deliveries remain on schedule. The Company's maintenance and support teams are working full-time for its international customers without interruption."

08:25 EDT TOP Ships completes sale of M/T Palm Springs - TOP Ships announced today that its 50% subsidiary, Eco Nine Pte., concluded the previously announced sale of its 100% owned vessel, M/T Palm Springs, and that the cash release to the Company amounts to $9.7M.

08:21 EDT Enphase Energy says over 8,300 homeowners joined Enphase Upgrade Program - Enphase Energy announced that over 8,300 homeowners have joined the Enphase Upgrade Program, a service initiative that gives homeowners several options for upgrading to the latest, more efficient and reliable microinverters from Enphase. The Enphase Upgrade Program can provide solar installers the opportunity for continued customer engagement, at prescribed social distancing requirements, through solar system upgrades. The Enphase Upgrade Program is for warranty holders of legacy Enphase microinverters and represents the Company's continued commitment to quality and service. Participation in the Enphase Upgrade Program is entirely voluntary, and Enphase continues to stand by its warranties for existing products in the field by leveraging insights into its customer base through advanced digital technologies. The Enphase Upgrade Program is a close collaboration between Enphase, homeowners, and solar installers in North America. Homeowners with select legacy Enphase microinverters have several options to upgrade their solar systems with products from the Enphase IQ 7 family of microinverters, including basic microinverter replacement or a full module and inverter upgrade with Enphase Energized AC Modules. AC Module upgrade customers also have the option to add always-on capability with Enphase Encharge storage products. .

08:20 EDT Equifax, Experian, TransUnion announce free weekly credit reports - In a joint action, the three national credit reporting agencies in the United States - Equifax (EFX), Experian (EXPGY) and TransUnion (TRU) - announce they are offering free weekly credit reports to all Americans for the next year to help them protect their financial health during the sudden and unprecedented hardship caused by COVID-19. The free reports will be available via AnnualCreditReport.com starting on April 20, 2020.

08:17 EDT 8x8, Inc. announces partnership with Jabra - 8x8, Inc. announced a partnership with Jabra to expand equipment offerings to include the Jabra BIZ, Engage, Evolve and UC VOICE mono and stereo headsets. The additional support for these headsets ensures companies can continue to use their preferred audio solutions with 8x8 cloud communications, video collaboration and contact center solutions. With this integration, joint customers will have a seamless experience when making and receiving calls using the 8x8 Virtual Office Desktop or Mobile applications and a Jabra headset. Users can answer, mute and disconnect 8x8 calls directly from their Jabra headsets with no further actions required in the 8x8 applications, for an experience that replicates the native phone application and business phones.

08:16 EDT Intellicheck receives $796,100 in CARES Act PPP funds - Intellicheck has received $796,100 in funds from the CARES Act Paycheck Protection Program, or PPP, for small businesses passed by Congress in response to the coronavirus pandemic. The funds come in the form of loans pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Actthat are aimed at supporting small businesses in addressing the ongoing costs of doing business as the pandemic continues. A key provision of the CARES Act is that the loans become grants and do not have to be repaid if businesses maintain their current staffing level.

08:14 EDT Atossa seeks clinical investigation approval to launch COVID-19 HOPE study - Atossa Therapeutics has applied to the FDA for approval to commence a clinical study of its proprietary drug, AT-H201, in COVID-19 patients on mechanical ventilation. AT-H201 is a novel formulation of two pharmaceuticals previously approved by the FDA for other diseases. The goal of the clinical trial, called the HOPE Study, is to demonstrate improved lung function and reduce the amount of time that COVID-19 patients are on ventilators. "One of the most tragic clinical features of the COVID-19 pandemic is the very high mortality rate for patients who require mechanical ventilation," stated Dr. Steven Quay, Atossa's President and CEO. "It is our hope that AT-H201 can have an impact in this clinical setting, both to save lives and to get patients off of the ventilator. Although there are over 100 clinical trials for COVID-19 being conducted in the United States, this is the first trial that I am aware of that is testing nebulized pharmaceuticals for patients on mechanical ventilation. Atossa looks forward to working on this important medical need and to reduce the death toll of COVID-19."

08:13 EDT Cue Biopharma, Merck enter into clinical trial collaboration agreement - Cue Biopharma (CUE) announced it has entered into a clinical collaboration agreement with Merck (MRK), through a subsidiary, to evaluate the combination of Cue Biopharma's investigational product candidate CUE-101, a first-in-class biologic, with Merck's anti-PD-1 therapy, KEYTRUDA in patients with advanced head and neck cancer. Under the terms of the agreement, Cue Biopharma will conduct a Phase 1 study, KEYNOTE-A78, evaluating CUE-101 in combination with KEYTRUDA in first-line HPV+ advanced head and neck cancer. KEYNOTE-A78 will be conducted in parallel with the ongoing Phase 1 monotherapy study of CUE-101 post first-line treatment. The early monotherapy PK data from the first two dosing cohorts demonstrates dose-related drug exposure consistent with preclinical modeling. Subsequent to the respective dose escalations, expansion cohorts evaluating CUE-101 as a monotherapy and in combination with KEYTRUDA will be conducted at optimized dosing regimens. CUE-101 is a fusion protein comprised of a human leukocyte antigen (HLA) complex, an HPV16 E7 peptide epitope, reduced affinity human interleukin-2 (IL-2) molecules, and an effector attenuated human immunoglobulin G Fc domain. In preclinical studies, CUE-101 has demonstrated selective induction and expansion of HPV16 E7-specific cytotoxic T cells with both in vitro and in vivo evidence supporting its potential for clinical efficacy both as a monotherapy and in combination with anti-PD1 checkpoint blockade. The Phase 1 CUE-101 monotherapy study is ongoing, with enrollment of patients at 13 leading centers in the United States for the treatment of post first-line metastatic and recurrent HPV+ advanced head and neck cancer. We have initiated the dosing of 3 patients in Cohort 3 and pending safety evaluation, we anticipate initiating the dosing of patients in Cohort 4 later this quarter. By design, CUE-101 includes 4 molecules of attenuated IL-2 and Cohort 2 patients were exposed to drug concentrations equivalent to those achieved with systemic IL-2 administration of aldesleukin with no evidence of cytokine release syndrome. The Phase 1 monotherapy portion of the study is a standard dose escalation of CUE-101. After demonstration of safety at several dose levels, a parallel Phase 1 dose escalation of CUE-101 in combination with KEYTRUDA will be initiated in first-line patients. The primary endpoints of the dose escalation phase of the trials are to evaluate the safety, tolerability, and the pharmacokinetics/pharmacodynamics of the two regimens. Monitoring of disease-relevant T cells and additional biomarkers of anti-tumor immune response and exploration of response prediction markers employing multiple methodologies are included in the study design. Preliminary data from early patient cohorts demonstrates tolerability and drug exposure, and provides confidence for drug activity consistent with projections based on preclinical data. Cue Biopharma expects to report initial pharmacodynamic data from the Phase 1 monotherapy portion of the study in the first half of 2020.

08:12 EDT United Airlines expects to cut 90% of capacity for May - The company has cut approximately 80% of its capacity for April 2020 and currently expects to cut 90% of its capacity for May 2020, with similar cuts expected for June 2020. The company plans to proactively evaluate and cancel flights on a rolling 60-day basis until it sees signs of a recovery in demand.

08:11 EDT Zogenix appoints Shawnte Mitchell as EVP, general counsel, secretary - Zogenix (ZGNX) announced it has appointed Shawnte Mitchell to the role of Executive Vice President, General Counsel and Secretary. In this role, Ms. Mitchell will lead the company's Legal team, manage certain corporate affairs, and serve as a member of the Zogenix Executive Team. She joins Zogenix from Aptevo Therapeutics (APVO), where she was most recently SVP, General Counsel and Corporate Affairs.

08:07 EDT Aytu BioScience signs exclusive global license with Cedars-Sinai - Aytu BioScience announced that it has signed an exclusive worldwide license from Cedars-Sinai to develop and commercialize the Healight Platform Technology. This medical device technology platform, discovered and developed by scientists at Cedars-Sinai, is being studied as a potential first-in-class treatment for coronavirus and other respiratory infections. The company believes the Healight platform technology has the potential to positively impact outcomes for critically ill patients infected with coronavirus and severe respiratory infections. The company licensed exclusive worldwide rights to the technology from Cedars-Sinai for all endotracheal and nasopharyngeal indications. Patents have been filed by Cedars-Sinai Department of Technology Transfer, and Aytu BioScience will manage all aspects of intellectual property prosecution and filing globally. Aytu BioScience expects to partner the product outside the U.S.

08:05 EDT Strata Skin Sciences says March gross procedure revenue declined 17% y-o-y - The company said, "The Company continued to see treatments preformed nationally in March 2020 primarily in those states that were not yet locked down. When comparing gross sales for March 2020 to March 2019, the Company found that overall the gross procedure revenue declined year over year by 17%."

08:03 EDT Strata Skin Sciences reduces materially all discretionary spending - The company said, "In an effort to conserve cash, the Company has put employees who either cannot work from home or cannot work due to the COVID-19 related shutdowns on leave of absence with the expectation that when exercising its COVID-19 "exit strategy" and resumes its business, the Company will bring these employees back. These decisive actions are expected to save the Company approximately $800 thousand in cash outlay per quarter. Additionally, the Company has reduced materially all of its discretionary spending, including direct to consumer advertising, marketing, sales and travel, which the Company believes would save approximately $1.0 million in additional cash outlays per quarter. Lastly, the Company has worked closely with its vendors in order to manage payments and inventory receipts to further conserve its cash position, which the Company believes would reduce cash outlays by approximately $1.2 million per quarter, as long as there is no need in manufacturing additional devices for placement."

08:03 EDT Equifax, TransUnion and Experian offers free weekly credit reports in U.S. - In a joint action, the three national credit reporting agencies in the United States - Equifax (EFX), Experian (EXPN) and TransUnion (TRU) - announce they are offering free weekly credit reports to all Americans for the next year to help them protect their financial health during the sudden and unprecedented hardship caused by COVID-19.The free reports will be available via AnnualCreditReport.com starting on April 20. The companies' CEOs provided a joint statement on the decision to increase their offerings for the next year. "These are unprecedented times facing the world. People are feeling scared and uncertain about the future. To help play our part and reduce some of that anxiety, we are uniting as an industry to help people know the facts about their financial data. We are making credit reports more accessible more often so people can better manage their finances and take necessary steps to protect their credit standing," said CEOs Mark W. Begor, CEO Equifax; Brian Cassin, CEO Experian; and Chris Cartwright, CEO TransUnion.

07:53 EDT Kforce withdraws current Stock Purchase Plan, intends to continue dividends - David Dunkel, Chairman and CEO, commented, " We have been very acquisitive in our stock since the beginning of the year and we are sensitive to the reality that professional staffing expectations and valuations are not being meaningfully differentiated from clerical, light industrial, and international staffing companies at this time. Therefore, we elected to terminate the 10b5-1 plan filed with the Securities and Exchange Commission on March 18, 2020. The termination of this plan was effective April 16, 2020. We have collectively returned nearly $34M in capital to our shareholders year to date through April 15, 2020 via our quarterly dividend program and share repurchases. Subsequent to our full earnings release, we will reassess our share repurchase plans. We reaffirm our current intent to continue paying quarterly dividends as we continue to generate ample cash flows and liquidity. Our balance sheet remains strong with net debt currently of approximately $68M, which is roughly 0.7 times trailing 12 months EBITDA. We remain excited about our future prospects given that the current crisis, in our opinion, has only strengthened the secular drivers of demand in technology as companies assess their digital transformation efforts and international outsourcing positions. In this unprecedented remote work environment, technology professionals are capable of effectively contributing to these mission critical projects with nominal impact to their work routine. We look forward to providing more insights into our results and trends on our earnings call on May 6, 2020."

07:49 EDT THL Credit reports net asset value declines to $5.34 as of April 15 - On April 20, 2020, THL Credit sent a letter to its stockholders to provide notice of its $30M stock issuance and a business and financial performance update. The letter stated in part: "Today, we announced a net asset value of TCRD of $5.34 per share as of April 15, 2020 in connection with the pricing of the previously announced $30 million stock issuance at NAV which was priced on April 17, 2020. FEIM committed to purchase $20M of this issuance and the sellers of TCRD's advisor committed to purchase the remaining $10M. As we indicated in our 10-K filing in March and in our preliminary proxy filed this month, subject to contractual and regulatory restrictions, if the contract is approved by stockholders at the Special Meeting, we plan to use the proceeds from this issuance to conduct a tender offer for shares trading at a discount to NAV following the Special Meeting. The tender offer will be at a price determined by TCRD's board of directors. The 30% reduction of NAV from December 31, 2019 to April 15, 2020 is sizeable but it is important to note that we are running two distinct portfolios in TCRD: 1) a direct lending portfolio held directly on the balance sheet of TCRD and 2) a highly diversified portfolio of primarily broadly syndicated senior secured first lien loans held off balance sheet in our Logan joint venture. The Logan JV had total assets of $348M with loans to over 120 unique issuers as of December 31, 2019. As a reminder, the Logan JV represents the single largest investment on our balance sheet with our equity valued at $83M as of December 31, 2019. The Logan JV has historically paid a very attractive return on equity to our stockholders. Unfortunately, the broadly syndicated bank loan market has experienced unprecedented volatility since early March and this volatility alone represents almost half of the mark down to NAV since year end. As a result, we have been actively managing this portfolio and have opportunistically traded out of select names to reduce leverage. We remain in compliance with the Logan JV's credit facility and do not anticipate any restrictions as it relates to our ability to continue to pay a dividend on TCRD's equity position in the Logan JV."

07:46 EDT Ascendant Resources to sell El Mochito Mine - Ascendant Resources has entered into a share purchase agreement with Kirungu Corporation, a Panamanian company, to sell all of the issued and outstanding shares of the Company's wholly-owned Honduran subsidiary American Pacific Honduras S.A. de C.V which owns 100% of the producing El Mochito zinc, lead and silver mine in west-central Honduras. Neil Ringdahl, who has been Ascendant's COO since March 2017 and is an officer of Kirungu, will resign from Ascendant effective at the close of the Transaction in order to continue to oversee and manage the operations of El Mochito. Since its acquisition in late 2016, Ascendant has dedicated significant capital and resources to the operations at El Mochito. The mine has seen continual growth and record production quarter over quarter. Irrespective of the strong operating turnaround, the mine has not met the Company's profitability objectives and continues to require additional financial investment. The sale will substantially reduce or eliminate the Company's direct AMPAC expenses, liabilities and obligations, and provide an immediate strengthening of the Company's financial position. This will allow Ascendant to focus on its highly attractive, high-grade Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. Pursuant to the Agreement, Ascendant will receive cash consideration of $1M and an additional $100,000 in working capital adjustments, as well as a royalty on zinc sales from the El Mochito mine. Pursuant to the royalty between the closing date of the Transaction and December 31, 2029, Ascendant will receive $0.0125 on every payable pound of zinc sold by AMPAC at a price greater than $1.15/lb. The COVID-19 pandemic and accompanying zinc commodity price weakness has resulted in significant challenges for Ascendant to continue funding the operations of El Mochito. In connection with the purchase of AMPAC, Kirungu will assume all of Ascendant's material liabilities with respect to AMPAC, the value of which is approximately $20-25 million. Closing is subject to a number of conditions, including the final approval of the Toronto Stock Exchange. Post-closing, the parties will seek the receipt of approval from the Honduran anti-trust authorities. Ascendant believes the Transaction brings a number of key benefits to the Company's shareholders, including: improved financial position. The Transaction will reduce the Company's operating budget and significantly improve its financial strength. Ascendant will be able to redirect resources to focus on the advancement of the highly prospective Lagoa Salgada project. Reduction in valuation discount. Management believes the Company's valuation is highly discounted. A focus on Portugal should allow management to focus on this tremendous opportunity in a superior jurisdiction for mining. Optimization program delays avoided. Progress on financing of the optimization and expansion program at El Mochito has continued to advance throughout 2020. Once achieved, the Company would still be exposed to the current higher-cost operation until construction can be completed and cost reductions realized, which is anticipated to be two years from commencement. Retained exposure: The sales royalty will allow Ascendant to retain upside exposure to El Mochito including future higher zinc prices and the completion of expansion and optimization projects that are expected to be undertaken and funded by the new owners. Though Mr. Ringdahl will resign from Ascendant concurrent with the closing of the Transaction, his position as Chief Operating Officer during key portions of the negotiations led the Board of Directors of Ascendant to take certain steps to ensure an independent process. The Board of Directors struck a special committee of two independent directors, being Mr. Stephen Shefsky and Ms. Petra Decher to assess, review and consider the terms of the Transaction and to make recommendations to the Board. The Transaction will be implemented by way of a share transfer in accordance with terms of the Agreement. Ascendant anticipates the Transaction closing on or about April 27, 2020, subject to the satisfaction of all closing conditions and the receipt of all required approvals.

07:39 EDT Idexx Laboratories makes pet test for COVID-19 available to veterinarians - IDEXX Laboratories announced the availability of the IDEXX SARS-CoV-2 RealPCR Test for pets. IDEXX is launching the test in response to customer demand and growing evidence that in rare cases pets living with COVID-19 positive humans can be at risk for SARS-CoV-2 infection. The test will be available to veterinarians in North America this week and will continue to roll out across most of the world in the coming weeks, enabled by IDEXX Reference Laboratories, the company's worldwide network of more than 80 laboratories.

07:39 EDT Crescent Point Energy lowers expenditure guidance by $75M - Crescent Point Energy is taking additional action to further enhance the Company's long-term sustainability through additional cost reductions, and is including a revised 2020 outlook. Highlights include: Lowering 2020 capital expenditures guidance by $75M, or 10%, with no associated impact to production; maintaining flexibility to further reduce capital expenditures, if necessary; enhancing sustainability by reducing 2020 operating expenses by $140M; reduced salaries for executive team and Board of Directors; lowering annual production guidance by 15%, primarily due to the voluntary shut-in of higher cost production; retains significant liquidity of over $2.5B, with no material near-term debt maturities. "We have taken, and continue to take, meaningful action to enhance our long-term sustainability during this period of low commodity prices," said the company. "We have further lowered our cost structure and also elected to shut-in production that is currently uneconomic to further enhance our cash flow. We are continuously monitoring the commodity price environment and will make further adjustments throughout the year, if necessary."

07:37 EDT Lennox cuts FY20 CapEx view to approximately $120M from $153M - Cuts FY20 free cash flow view to approximately $340M from $410M. Sees corporate expenses of approximately $75M, compared to previous guidance of $90M. The company's quarterly dividend plans are unchanged, most recently 77c per share, or more than $115M in total for the year.

07:36 EDT Telus delivering over 10,000 free mobile devices to help seniors, patients - To keep Canada's most vulnerable citizens connected during the COVID-19 pandemic, TELUS is giving over 10,000 free mobile devices and $0 rate plans, valued at more than $5 million, to hundreds of organizations across the country. These connections are giving hospitalized COVID-19 patients the ability to virtually connect with loved ones, while also enabling isolated seniors, and low-income, homeless, and at-risk individuals with a much needed lifeline to families, health practitioners and vital social support services during this complex time.TELUS has already donated more than 6,000 mobile devices paired with $0 rate plans including unlimited nationwide talk and text and 3GB of data per month.

07:35 EDT Cyclacel, University of Edinburgh collaborate to study CDK Inhibitors - Cyclacel Pharmaceuticals announced that it entered into an agreement with the University of Edinburgh to study fadraciclib and seliciclib, its clinical stage CDK2/9 inhibitors, as potential early treatments for the inflammatory response observed in patients with COVID-19 disease. The parties will assess Cyclacel's medicines above for their suitability for use in safety and efficacy studies in COVID-19 patients. This evaluation is part of a broader project studying the inflammatory pathways that lead directly to COVID-19 lung injury, drawing upon more than 30 years of experience from the University of Edinburgh's Centre for Inflammation Research. STOPCOVID is supported by a GBP2M grant from LifeArc and the University is seeking further funding. Previously published research from The University of Edinburgh and other investigators have found that CDK inhibitors, including seliciclib, help resolve undesirable inflammation by promoting apoptosis of inflammatory neutrophils. CDK inhibitors were shown to reduce levels of the anti-apoptotic protein Mcl-1 and inhibit transcription of interleukin-6, both of which are believed to be drivers of the overactive systemic inflammatory response severely damaging the lungs of symptomatic COVID-19 patients.

07:31 EDT Genesis Healthcare announces passing of founder Michael Walker - Genesis HealthCare announced that its founder, Michael Walker passed away over the weekend after a long-term illness and complications from COVID-19. Walker founded Genesis in 1985 and was Chairman and CEO from 1985 to 2002.

07:30 EDT Husky Energy suspends strategic review of Canadian retail, commercial fuels - Due to the current market environment, Husky has suspended the strategic review of its Canadian retail and commercial fuels business, which consists of more than 500 stations, travel centres, cardlock operations and bulk distribution facilities.

07:29 EDT Husky Energy suspends construction activities at West White Rose Project - Major construction activities related to the West White Rose Project have been suspended due to COVID-19. Production at the main White Rose field continues, with enhanced workforce control measures designed to ensure safe operations on the SeaRose floating production, storage and offloading vessel. Husky has a 72.5% working interest in the White Rose field and a 68.8% working interest in the satellite extensions, including West White Rose. The planned drydock for the Terra Nova FPSO vessel is being reviewed by the operator and alternative options are being considered to complete maintenance work and asset-life extension activities. Husky has a 13% working interest in the Terra Nova oil field.

07:28 EDT Husky Energy defers turnaround of Sunrise Energy Project - A major turnaround that was scheduled to start at Sunrise in April has been deferred due to public health and safety considerations related to COVID-19. Other maintenance work at Sunrise will proceed where necessary and safe to do so, with operations and production modified in accordance with maintenance requirements. Husky operates Sunrise and its partner operates the jointly-owned BP-Husky Toledo Refinery near Toledo, Ohio.

07:26 EDT Husky Energy suspends rebuild construction at Superior Refinery - Rebuild construction at the Superior Refinery in Wisconsin has been suspended due to the safety and public health risks inherent in maintaining a large construction workforce during the COVID-19 pandemic. A schedule for resumption will be determined in due course. Rebuild costs are expected to be substantially covered by property damage insurance.

07:25 EDT Husky Energy cuts 2020 capital spending to $1.7B - Husky Energy is significantly reducing capital expenditures and shutting in negative cash margin production as further measures to strengthen its business given market conditions caused by COVID-19. "We have taken immediate action to preserve our balance sheet and core business in this commodity price environment," said CEO Rob Peabody. "Our focus remains on health and safety, and on increasing Husky's resilience. "As the market rebalances supply with demand over a very short period in North America, negative cash margins before operating costs are occurring. Reducing production minimizes our negative cash margin exposure." Husky's plan includes: Continuing to advance process and occupational safety performance; Reducing and deferring all discretionary capital spending; Liquidity improvements; Reducing production and refinery throughput to address near-term negative cash margins until supply and demand is rebalanced Husky previously announced 2020 spending reductions of $1B, including $900M in capital expenditures and $100M in cost-saving measures. Husky continues to safely shut-in production across its Integrated Corridor business, where appropriate. To date, Integrated Corridor production has been reduced by more than 80,000 barrels per day, most of which is heavy oil, with the ability to reduce even further while preserving the option to quickly ramp back up should pricing conditions allow. Integrated Corridor production is being aligned with upgrading and refining requirements as throughput is adjusted and optimized in line with changing market conditions. As a result, updated 2020 production and throughput guidance will not be provided at this time. Current U.S. refinery throughput has been reduced by around 95,000 bbls/day, or approximately 40% below maximum capacity. Husky continues to prioritize its balance sheet, supported by significant liquidity. As of the end of the first quarter, the Company had approximately $4.7B of liquidity, comprised of $1.3B in cash and $3.4B in available credit facilities. Since the end of the first quarter, Husky has increased its liquidity with the recent addition of a $500M term loan, increasing total liquidity towards $5.2B. The term loan proceeds have been used to repay syndicate drawings advanced to repay the maturing 5.0% notes on March 12, 2020. The Company has no long-term debt maturities until 2022.

07:19 EDT XPO Logistics releases 2019 sustainability report - XPO Logistics announced the release of its annual Sustainability Report. The 2019 report provides details of the company's progress in key areas, including safety, employee engagement, diversity and inclusion, ethics and compliance, environmental protection and governance. Bradley Jacobs, CEO of XPO Logistics, said, "Corporate sustainability has never been more important than it is right now, in the midst of the COVID-19 pandemic. Our first priority at XPO is to keep our employees out of harm's way, particularly those on the front lines. We're doing this through comprehensive safety protocols and a number of new benefits, including Pandemic Paid Sick Leave in North America. I'm deeply grateful to our global team, and proud that XPO is a company that takes care of its people."

07:17 EDT Esperion, Otsuka Pharmaceutical sign deal for NEXLETOL, NEXLIZET in Japan - Esperion announced that they have entered into a collaboration agreement with Otsuka Pharmaceutical Co., Ltd. for the development and commercialization of NEXLETOL and NEXLIZET tablets in Japan. Both medicines were recently approved in both the US and EU. The collaboration advances the commitment of both companies to provide cost-effective, oral, once-daily, non-statin LDL-cholesterol lowering medicines for hypercholesterolemia patients in Japan. This development and commercialization collaboration combines Esperion's expertise in lipid management with Otsuka's deep cardiovascular drug development and commercialization expertise in Japan. Under the terms of the agreement, Esperion will grant Otsuka exclusive rights to NEXLETOL and NEXLIZET tablet development and commercialization in Japan. Otsuka will be responsible for all development, regulatory, and commercialization activities in Japan. In addition, Otsuka will fund all Japan-specific development costs associated with the program. Esperion estimates this amount to total up to $100M over the next few years. Esperion will receive an upfront cash payment of $60 million as well as up to an additional $450M in total development and sales milestones. Esperion will also receive tiered royalties from 15 percent to 30 percent on net sales in Japan.

07:14 EDT Compugen and Bayer's BAY 1905254 study results published in reviewed paper - Compugen (CGEN) announced the publication of a peer reviewed paper titled "Characterization of BAY 1905254, a novel immune checkpoint inhibitor targeting the immunoglobulin-like domain containing receptor 2, or ILDR2," describing BAY 1905254's ability to trigger an anti-tumor immune response in mice, supporting its clinical evaluation as a cancer immunotherapy. The preclinical studies, published in Cancer Immunology Research, a journal of the American Association for Cancer Research, were conducted in collaboration between Compugen and Bayer (BAYRY), with data demonstrating BAY 1905254 in vitro T cell activation and in vivo anti-tumor activity. ILDR2 is a novel therapeutic target in immuno-oncology discovered computationally by Compugen and licensed to Bayer under a research and development collaboration and license agreement. ILDR2 is expressed by a specialized stromal cell subset so called fibroblastic reticular cells located in the lymph node where T cell priming and initiation of local T cell responses occur. Therefore, the hypothesis on the mode of action of BAY 1905254 is that the blockade of the immunosuppressive function of ILDR2 in the lymph node results in enhanced T cell priming, allowing for enhanced anti-cancer immune responses.

07:11 EDT Karyopharm doses first patient in study of low dose selinexor in COVID-19 - Karyopharm Therapeutics announced dosing of the first patient in a randomized Phase 2 clinical study evaluating low dose oral selinexor in hospitalized patients with severe COVID-19. This global study is expected to enroll approximately 230 patients at clinical sites in the U.S., Europe, and Israel. Selinexor is an oral selective inhibitor of nuclear export compound which blocks the cellular protein XPO1 which is involved in both the replication of SARS-CoV-2, the virus that causes COVID-19, and in the inflammatory response to the virus. The randomized, multi-center, placebo-controlled Phase 2 study of low dose selinexor is designed to assess the activity and safety of 20mg of selinexor given orally three times a week for two weeks. Patients tolerating therapy well and experiencing clinical benefit may be eligible to continue treatment for an additional two weeks at the discretion of the treating physician. The primary endpoint of the study is time to clinical improvement based on improvement in the Ordinal Scale, consistent with the COVID-19 trial recommendations by the World Health Organization and the U.S. Food and Drug Administration. Additional secondary endpoints in the study include the overall death rate at day 28 as well as the rate of, and time to, mechanical ventilation. SINE compounds have been identified as having the potential to interfere with key host protein interactions with influenza, RSV and other viruses including SARS-CoV-2.1 Furthermore, XPO1 was identified as one of the host proteins with the highest number of functional connections with SARS-CoV proteins. Finally, SINE compounds, including selinexor, have demonstrated potent anti-inflammatory activity through the inhibition of Nuclear Factor kB, leading to reductions in cytokines such as IL6, IL1, IFNg and others in a variety of models, which may be particularly beneficial to hospitalized patients with COVID-19 and other severe viral infections. Selinexor, marketed as XPOVIO, is currently approved at higher doses by the FDA as a treatment for patients with relapsed or refractory multiple myeloma. Selinexor is currently the only XPO1 inhibitor approved for commercial use by the FDA and has been extensively tested in clinical trials across numerous cancer indications worldwide since 2012. Karyopharm has sufficient supply of selinexor for current and expected commercial patients with multiple myeloma, for ongoing clinical trials in patients with various cancers, as well as for this study in patients with COVID-19.

07:09 EDT USA Technologies issues statement in response to ISS, Glass Lewis recommendation - USA Technologies issued a statement in response to reports issued by Institutional Shareholder Services, or ISS and Glass Lewis regarding the company's 2020 annual meeting of shareholders scheduled to be held be held at on April 30. The company said, "USAT's Board, its management and its business are fundamentally different from when Hudson Executive Capital ("HEC") began its proxy contest to take control of the Board of the Company. However, HEC's stated aim in continuing its proxy contest continues to be to "reinvigorate USAT" by changing CEO. The reality is that reinvigoration and change are already taking place at the Company. The Board has acted to ensure that eight of its members will have been appointed since April 2019 and the management team has made significant progress on critical strategic initiatives, driving improved results in the second quarter fiscal year 2020. Revenues were up 27.7% year-over-year and margins expanded by over 150 basis points. Like all businesses, USAT is now faced with determining the best path forward given the ongoing economic volatility and uncertainty surrounding COVID-19. Under these conditions, the primary focus of the USAT Board has been to ensure business continuity, empower management to partner with customers and attempt to reach an agreement with HEC to settle the proxy contest. The Board's approach to settlement discussions has been to try to reach an agreement that minimizes expense and disruption for the Company at this critical time. It is unfortunate that both ISS and Glass Lewis failed to use their recommendations to persuade HEC that it is time to end the proxy contest it began last year and join the Board in addressing the challenges that the Company faces today. USAT reminds shareholders that every vote is important, no matter how many or how few shares it represents. The Company urges all shareholders to use the WHITE proxy card to vote "FOR" the election of the Company's director nominees - Donald W. Layden Jr., Lisa P. Baird, Kelly Ann Kay, Robert L. Metzger, Patricia A. Oelrich, Ellen Richey, Sunil Sabharwal, William J. Schoch, Anne M. Smalling and Ingrid S. Stafford - three of whom were nominated by HEC."

07:08 EDT Lumber Liquidators furloughs 300 store associates and reduces salaries - The Company remains committed to serving its customers while keeping health and safety paramount. Aligning with these priorities, the Company is executing a variety of flexible operating models that utilize safety measures such as personal protective equipment for employees and allow for contact-free engagement. Many stores are operating as warehouse-only. All stores are temporarily operating under reduced hours and closed on Sundays. In addition, the Company is leveraging its strategic investments in digital capabilities made over the past 18 months. Web traffic has increased meaningfully in recent weeks, and adapting to the change in consumer behaviors, the Company is currently offering free online flooring samples, extended hours for voice and click-to-chat customer support, curbside store pickup and enhanced home delivery options. As a result of reduced demand and the changes in the current operating model, the Company made the difficult decision to temporarily furlough approximately 300 store associates and reduce operating hours in its distribution centers. Impacted employees will receive two weeks of pay and have the opportunity to utilize up to 80 hours of paid time off. In addition, the Company will pay the employee portion of benefit premiums for any employee impacted beyond four weeks through the end of May. The Company is also implementing a temporary reduction in all salaried employee compensation including a 25% reduction in the base pay of the interim President, the CFO and other C-level executives, and a corresponding 30% reduction in the cash compensation of the Board of Directors.

07:07 EDT Ionis: Roche completes enrollment in Phase 3 GENERATION HD1 study - Ionis Pharmaceuticals (IONS) announced that its partner Roche (RHHBY), also known as Genentech in the United States, has completed enrollment for GENERATION HD1, a global Phase 3 study evaluating the efficacy and safety of tominersen, an investigational antisense therapy for people living with Huntington's disease.

07:05 EDT ISS, Glass Lewis recommend gold proxy card to USA Technologies shareholders - Hudson Executive, the largest shareholder of USA Technologies, with beneficial ownership of approximately 16.2% of USAT's common stock, announced that Institutional Shareholder Services, or ISS, and Glass Lewis have recommended that USA Technologies shareholders vote the gold proxy card for the election of Hudson Executive's independent director nominees in connection with the company's annual meeting of shareholders to be held April 30.

07:05 EDT Lumber Liquidators sees Q1 comparable SS eroded 1% by Coronavirus - Lumber Liquidators provided an update related to COVID-19 and the Company's operations. "The health and safety of our customers, employees and communities remains our top priority as we adjust our operations to respond to COVID-19, strive to meet the needs of our customers nationally and navigate the dynamic current environment," said the company. Through the week ending March 21 the Company's quarter-to-date comparable store sales increased approximately 4%, but as the impact of COVID-19 began to broadly impact consumers, orders declined significantly and Q1 comparable stores sales eroded to approximately negative 1% by the end of the quarter. Despite softening sales in late March, gross margin percent increased in the quarter versus Q1 last year driven by margin optimization and supply chain efficiency efforts. In addition, rigorous expense management helped deliver a year-over-year reduction in adjusted SG&A as a percent of sales in the quarter. In addition, the Company continues to evaluate the CARES Act and any potential impact on reported results. As a result, the Company currently anticipates filing its Q1 earnings report and Form 10-Q the week of May 25. Due to the ongoing uncertainty created by COVID-19, the Company is withdrawing its annual FY20 financial guidance that was provided on February 25. The Company augmented its cash balance by borrowing $37M under the amended ABL facility, and as of April 17, the Company had liquidity of approximately $120M including approximately $41M in cash and cash equivalents.

07:02 EDT BWX Technologies appoints Robb LeMasters as Chief Strategy Officer - BWX Technologies announced that Robb LeMasters has been appointed senior vice president and Chief Strategy Officer, effective July 13. In this new role, LeMasters will be responsible for driving BWXT's overall corporate strategy for growth in its various national security, clean energy, environmental remediation, nuclear medicine and space exploration markets. He will also oversee the company's investor relations and mergers and acquisitions functions. LeMasters was appointed as an independent director to BWXT's board in 2015 when the company spun off its power generation business.

07:00 EDT Bristol-Myers: CheckMate-743 met primary endpoint of overall survival - Bristol-Myers Squibb announced that CheckMate -743, a pivotal Phase 3 trial evaluating Opdivo in combination with Yervoy in previously untreated malignant pleural mesothelioma met its primary endpoint of overall survival. Based on a pre-specified interim analysis conducted by the independent Data Monitoring Committee, Opdivo in combination with Yervoy resulted in a statistically significant and clinically meaningful improvement in OS compared to chemotherapy. "Malignant pleural mesothelioma is a devastating disease that has seen limited treatment advances over the past decade," said Sabine Maier, M.D., development lead, thoracic cancers, Bristol Myers Squibb. "These topline results from the CheckMate -743 trial demonstrate the potential of Opdivo plus Yervoy in previously untreated patients with malignant pleural mesothelioma, and is another example of the established efficacy and safety of the dual immunotherapy combination seen in multiple tumor types. We would like to thank the patients who participated in this trial, as well as the investigators and site personnel for their perseverance during the conduct of this study and in delivering this important result for patients in the midst of the COVID-19 pandemic. We look forward to working with investigators to present the results at a future medical meeting, and to discussing them with health authorities."

06:57 EDT Dollar General announces reopening of first store in Washington state - Dollar General announced the recent opening of its first store in Washington state, increasing its national presence to 46 states. This store opening in Cathlamet will provide Wahkiakum County residents with household essentials at everyday low prices in a convenient location. A grand opening celebration for the new store located in Cathlamet is expected to be announced at a later date.

06:56 EDT Northern Dynasty announces rejection of litigation filed by Pebble opponents - Northern Dynasty reported that a U.S. federal district court judge in Alaska granted the U.S. Environmental Protection Agency's, or EPA, 'Motion to Dismiss' a case brought by a collection of anti-Pebble activist groups. The litigation challenged EPA's July 2019 decision to formally withdraw its prior regulatory action under Section 404 of the Clean Water Act, which sought to pre-emptively veto the Pebble Project before permit applications had been filed or an Environmental Impact Statement, or EIS, permitting process was undertaken. In granting the Motion to Dismiss, U.S. District Judge Sharon Gleason found the anti-Pebble activists had "failed to state a claim upon which relief can be granted". In a statement released, Pebble CEO Tom Collier said the U.S. legal system has once again re-affirmed the Pebble Project's right to receive a fair and objective permitting review under the Clean Water Act and National Environmental Policy Act. He said the court decision received last week removes yet another obstacle to receiving a Final EIS and record of decision on the Pebble Project by mid-2020.

06:53 EDT NovaBay signs pact with Shenzhen to distribute COVID-19 antibody test - NovaBay Pharmaceuticals announces an agreement with Shenzhen Microprofit Biotech Co., Ltd. to become the exclusive U.S. distributor of a rapid, finger prick test to determine the presence of COVID-19 or a potential indication of antibody immunity to COVID-19. The fluorecare SARS-CoV-2 IgG & IgM Antibody Combined Test Kit is a point-of-care test to be administered by healthcare professionals. The test uses a drop of blood for the detection of COVID-19 antibodies with results available in approximately 10 minutes. fluorecare SARS-CoV-2 IgG & IgM Antibody Combined Test Kit. The fluorecare test kit has been validated through widely used RT-PCR testing to detect immunoglobulin M, which is the first antibody produced in response to initial exposure to the COVID-19 antigen, and immunoglobulin G, which provides a potential indication of antibody-based immunity to COVID-19. The fluorecare test kit has been ISO 13485 and CE Mark certified.

06:50 EDT DuPont withdraws FY20 guidance - The company remains intently focused on the levers within its control, including delivering on cost saving targets. However, with global softening in automotive, oil & gas and select industrial end-markets and the unknown duration and intensity of the COVID-19 pandemic, the Company has elected to suspend its full-year 2020 net sales and adjusted EPS guidance.

06:48 EDT Halliburton says taking actions to reduce overhead, costs by ~$1B - "We have been through downturns before. We know what to do and will execute based on that experience. We are taking swift actions to reduce overhead and other costs by approximately $1 billion, lower capital expenditures to $800 million, and improve working capital. We will take further actions as necessary to adjust to evolving market conditions. We believe the actions we take will not only temper the impact of the activity declines on our financial performance, but also ensure that we are in a strong position, financially and structurally, to take advantage of the market's eventual recovery," concluded CEO Miller.

06:43 EDT Co-Diagnostics announces expansion of COVID-19 test orders in U.S. - Co-Diagnostics announced that company COVID-19 test sales in the United States have continued to increase as the federal government shifts responsibility to individual states to confront the need to double the amount of testing for the disease. The company received FDA Emergency Use Authorization on April 3 and has shipped tests to more than a dozen states throughout the country, in addition to receiving orders from nearly 50 countries worldwide. The Logix Smart COVID-19 test is currently available to all clinical laboratories certified under Clinical Laboratory Improvement Amendments, or CLIA, and is authorized to be used for the diagnosis of SARS-CoV-2, the virus that causes COVID-19.

06:39 EDT 58.com forms special committee to evaluate non-binding proposal, other options - 58.com announced that its board has formed a special committee consisting of two independent directors, Robert Dodds Jr. and Lily Li Dong, to evaluate and consider the previously announced preliminary non-binding acquisition proposal letter dated April 2, or any alternative strategic option that the company may pursue. The board cautions the company's shareholders and others considering trading the company's securities that no decisions have been made with respect to the proposal or any alternative strategic option that the company may pursue. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the transaction contemplated by the proposal or that any other transaction will be approved or consummated. The company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law.

06:36 EDT DPW Holdings announces Court issues preliminary approval of settlement - On February 25 DPW Holdings announced that on February 19 DPW entered into a definitive settlement agreement between Plaintiffs Ethan Young and Greg Young, derivatively on behalf of Nominal Defendant DPW against the Company's then directors and DPW itself, Case No. 2:18-cv-06578, filed in the United States District Court in the Central District of California on July 31, 2018. On April 15 the Court issued an Order approving a Motion for Preliminary Approval of Settlement in the Derivative Action filed against DPW as a Nominal Defendant and its directors who served on its board of directors on July 31, 2018.Under the terms of the Order approving the Agreement, the Company's Board of Directors will implement certain reforms to the Company's bylaws, committee charters, corporate governance policies, and the composition of the Board, including the resignation of a current director and the appointment of two new independent directors. In addition, the parties have agreed upon a payment of attorneys' fees in the amount of $600,000 payable by the Company's Director & Officer liability insurance. The Agreement contains no admission of wrongdoing. The Company has always maintained and continues to believe that neither it nor any of its directors engaged in any wrongdoing or otherwise committed any violation of federal or state securities laws or other laws.

06:33 EDT Blucora names Raj Doshi as Chief Growth and Marketing Officer - Raj Doshi joins Blucora (BCOR) as Chief Growth and Marketing Officer, effective April 20. Doshi was a consultant with McKinsey & Company, and then spent time with Google (GOOG, GOOGL) as the Head of Strategy for the Americas Sales organization, as well as the Head of Customer Acquisition for Google Fiber.

06:32 EDT Blucora names Marc Mehlman as CFO, succeeding Mimi Carsley - Marc Mehlman will join Blucora (BCOR) as CFO on April 27 and will succeed interim CFO Mimi Carsley who will remain with Blucora as Treasurer and SVP of FP&A and Procurement. Mehlman brings a wealth of experience to his role as CFO. Over the past 15 years he has served in various leadership positions at Thomson Reuters (TRI), primarily forced on finance, financial strategy, and business operations.

06:15 EDT Outfront Media announces bank covenant amendment - Outfront Media announced that it, along with certain subsidiaries, entered into an amendment to the credit agreement governing its $500M revolving credit facility due November 2024. "The revolving credit portion of our senior credit facilities is subject to a maintenance covenant, which is a consolidated net secured leverage ratio of no greater than 4.5x. The amendment provides that for the period from April 15, 2020 through September 30, 2021, the consolidated net secured leverage ratio will be calculated by substituting our Consolidated EBITDA for each of the quarterly periods ended June 30, 2020 and September 30, 2020 included in any last twelve month compliance testing period, with our historical Consolidated EBITDA for each of the quarterly periods ended June 30, 2019 and September 30, 2019, respectively. Additionally, during the same time period, we agreed not to make any restricted payments under the credit agreement without the consent of the revolving credit lenders, subject to certain exceptions, including payments necessary to maintain our REIT status."

06:11 EDT Legacy Acquisition Corp extends deadline to complete business combination - Legacy Acquisition Corp. announced that it has elected to extend the date by which it has to consummate a business combination from April 20 to May 20.

06:10 EDT TransUnion announces partnership with CuneXus - TransUnion has entered into a strategic partnership with CuneXus, a data-driven lending and marketing automation pioneer, to enable financial institutions to extend relevant credit offers to consumers via digital delivery channels. The strategic partnership combines the technology of the CuneXus Perpetual Loan Approval platform with TransUnion's data assets not only to enhance the lending experience for credit unions and banks, but also empowering them to serve members and customers more efficiently and effectively through existing digital channels.

06:08 EDT Goldman Sachs BDC reports cash and equivalents $86.4M as of March 31 - Reports $9.4M as of December 31, 2019.

06:03 EDT KLX Energy CEO Amin Khoury to resign, Tom McCaffrey to succeed - Amin Khoury, Chairman of the Board of Directors and CEO, announced that he will be resigning for personal family health reasons on May 1. Khoury will continue to be a member of the Board of Directors and serve as a consultant to the company following his resignation. Also effective on May 1, Tom McCaffrey, currently Senior Vice President and CFO, will become President and CEO of the company and will join the company's Board of Directors. John Collins, who is currently a member of the company's Board of Directors and Chairman of the Compensation Committee, will then become Chairman of the Board of Directors.

05:36 EDT Biofrontera enters exclusive license agreement with Maruho - Biofrontera AG has signed an exclusive license agreement with Maruho for the development and commercialization of Ameluz for all indications in East Asia and Oceania, based on the term sheet agreed on March 3. Under the terms of the Agreement, Maruho will obtain exclusive development and commercialization rights including the right to sublicense for Ameluz in Japan, China, Korea, India, Pakistan, Vietnam, the Philippines, Australia, New Zealand as well as the surrounding countries and islands. Maruho is, with the consent of Biofrontera, entitled to carry out its own research and development within the scope of the license. Maruho will grant to Biofrontera a free and unlimited license for the results of such research and development activities for commercialization outside the Territory. Under the terms of the Agreement, Biofrontera will supply Ameluz to Maruho at cost plus 25%, while Maruho has an obligation for commercially reasonable efforts to develop, approve and market Ameluz in all countries of the Territory. Maruho will make an upfront payment to Biofrontera AG in the amount of EUR 6M, which is due immediately, plus additional future payments subject to achievement of certain regulatory and sales milestones. Maruho will also make royalty payments at an initial rate of 6% of net sales in the countries of the Territory, which will increase depending on sales volume and will be reduced should generic products become available in the respective countries. Maruho indirectly holds more than 20% of the shares of Biofrontera AG and is therefore a related party of Biofrontera AG within the meaning of Section 111a (1) of the German Stock Corporation Act. On February 27, Biofrontera AG obtained an independent expert assessment of the economic feasibility of the outlined terms. The findings confirm the adequacy of the terms and conditions of the Agreement. The Supervisory Board of Biofrontera AG has approved the Agreement.

05:21 EDT Midatech Pharma appoints Noble as advisor for strategic review - Midatech Pharma announces an update to the previously announced strategic review and the appointment of Noble as an adviser. On March 31 the company announced that, as part of an ongoing strategic review prompted by prevailing conditions in the capital markets and an inability to raise additional capital, the board had reluctantly decided to terminate further in-house development of MTD201 and close down its MTD201 dedicated manufacturing facilities in Bilbao and offer redundancy to five employees in the UK. The board is open to considering all options for extracting value from its technologies. These include partnering its clinical stage assets; MTD201, MTX110 and MTX114 and/or partnering existing and upcoming proof of concept formulations. The board would also consider partnering or selling one or more of its technologies, or selling the company by way of a 'formal sale process'. The board has appointed Noble as its financial advisor to advise the company in the search for partners and/or potential acquirers. The company confirms that while it or its advisers have received initial enquiries from certain parties, it is not in discussions with any potential offeror at this time and nor has the company been in receipt of any approaches from any potential offeror at the date of this announcement. There can be no certainty that this process will result in an offer for the issued and to be issued share capital of the company or any form of transaction or other development for Midatech, or the terms and timing of such matters. One of the options that will be considered in the strategic review is a sale of the Company. The Takeover Panel has agreed that any discussions with third parties may be conducted within the context of a formal sale process under the Takeover Code to enable conversations with parties interested in making a proposal to take place on a confidential basis. Accordingly, the Takeover Panel has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the Takeover Code such that any interested party participating in the formal sale process will not be required to be publicly identified under Rules 2.4(a) or 2.4(b) as a result of this announcement and will not be subject to the 28-day deadline referred to in Rule 2.6(a) of the Takeover Code for so long as it is participating in the formal sale process.