Stockwinners Market Radar for May 22, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

18:04 EDT KKR's Sorkin sells over 26,000 common shares - In a regulatory filing, KKR general counsel and secretary David Sorkin disclosed the sale of 26,333 common shares of the company on May 20 at a price of $26.56 per share.

17:53 EDT Hertz drops over 45% as WSJ says bankruptcy filing coming as soon as Friday - Shares of Hertz Global (HTZ) plunged 45.8% after the Wall Street Journal reported that the company is preparing to file for bankruptcy as soon as Friday night after it failed to strike a standstill agreement with top lenders. The Journal added that the company intends to seek chapter 11 protection in the coming days after government restrictions on travel reduced air and ground traffic, hitting the vehicle rental market. The news comes two days after the Journal reported that the company, which missed debt-related payments last month, was facing a Friday deadline on negotiations with lenders and bondholders, and had asked lenders for an additional 60-day forbearance to negotiate terms.

17:30 EDT Asta Funding trading resumes

17:18 EDT SolarWinds CFO sells 95.4K shares of common stock - In a regulatory filing, SolarWinds disclosed that its CFO James Kalsu sold 95.4K shares of common stock on May 21st. The total transaction size was $1.7M.

17:07 EDT Electronic Arts chairman sells 25K shares of common stock - In a regulatory filing, Electronic Arts disclosed that its chairman Lawrence Probst sold 25K shares of common stock on May 20th. The total transaction size was $3.0M.

16:36 EDT Microsoft working on fix for Xbox Live service outages - According to the Xbox Support Twitter account, Microsoft is "aware that some users may be experiencing issues when attempting to sign in on Xbox One & Windows 10. Our teams are aware & working on a fix. Please follow here & on our status page for updates." Reference Link

16:31 EDT FDA approves Takeda's Alunbrig as first-line treatment for rare lung cancer - Takeda Pharmaceutical announced that the U.S. Food and Drug Administration approved ALUNBRIG for adult patients with anaplastic lymphoma kinase-positive metastatic non-small cell lung cancer as detected by an FDA-approved test. This approval expands ALUNBRIG's current indication to include the first-line setting. ALUNBRIG is a potent and selective next-generation tyrosine kinase inhibitor designed to target ALK molecular alterations. "We're extremely proud of the positive results ALUNBRIG has shown for newly diagnosed ALK+ NSCLC patients, particularly those with brain metastases," said Teresa Bitetti, President, Global Oncology Business Unit, Takeda. "Through a robust clinical development program and ongoing investigations across the NSCLC treatment landscape, Takeda is committed to uncovering solutions for people living with devastating forms of lung cancer in need of new options. We believe this approval for ALUNBRIG is a substantial step in the right direction and represents significant progress for Takeda's broader lung cancer portfolio." The approval is based on results from the Phase 3 ALTA 1L trial, which is evaluating the safety and efficacy of ALUNBRIG compared to crizotinib in adult patients with ALK+ locally advanced or metastatic NSCLC who have not received prior treatment with an ALK inhibitor.

16:17 EDT FDA accepts's Zealand Pharma's NDA for HypoPal rescue pen in hypoglycemia - Zealand Pharma announced that the FDA has accepted for filing the company's New Drug Application for the dasiglucagon HypoPal Rescue Pen for the treatment of hypoglycemia in people with diabetes. Under the Prescription Drug User Fee Act , the FDA has set a target action date of March 27, 2021. Additionally, the FDA has communicated that it is not currently planning on an advisory committee to discuss the application... In three Phase 3 trials in adults and pediatrics, the primary and all key secondary endpoints were successfully achieved with a median time to blood glucose recovery of only 10 minutes following injection of 0.6mg dasiglucagon. The company remains on track for the potential launch of the dasiglucagon HypoPal rescue pen in early 2021.

16:07 EDT Epam Systems CMO sells over 2,000 common shares - In a regulatory filing, Epam Systems chief marketing officer Elaina Shekhter disclosed the sale of 2,349 common shares of the company on May 20 at a price of $223.96 per share.

16:05 EDT Saia chairman O'Dell sells nearly 10,000 common shares - In a regulatory filing, Saia chairman Richard D. O'Dell disclosed the sale of 9,749 common shares of the company on May 21 at a price of $103.2412 per share.

15:59 EDT Tyson Foods releases results from COVID-19 testing at Temperanceville, Va plant - Tyson Foods announced the results of facility-wide testing for COVID-19 at its Temperanceville, Virginia poultry facility. "Of the 1,282 team members and contractors who work at the facility and were tested, 257 tested positive, the majority of whom did not show any symptoms and otherwise would not have been identified. The total comprises 79 individuals who were tested by the Department of Health or when seeking care through their own health care providers and an additional 178 individuals who were tested onsite from May 5 to May 7. Team members who test positive receive paid leave and may return to work only when they have met the criteria established by both the CDC and Tyson. The Temperanceville facility is among an initial group of more than 30 production facilities in the United States where Tyson is rolling out advanced testing capabilities and enhanced care options onsite to team members in partnership with MATRIX MEDICAL, a leading medical clinical services company, and other partners. The company is prioritizing communities with a higher prevalence of COVID-19 and will assess additional needs based on significant risk factors and access to testing. As it is doing at the Temperanceville facility, Tyson will disclose test results at other plants to health and government officials, team members and stakeholders as part of its efforts to help affected communities where it operates better understand the coronavirus and the protective measures that can be taken to help prevent its spread," the company said in a post on its website. Reference Link

14:41 EDT Asta Funding trading halted, news dissemination

14:15 EDT Box says all employees can work from anywhere until end of year - Box announced that all of its nearly 2,000 workers can work from anywhere until the end of the year. Box will also provide a stipend for employees to improve their work from home setup. Reference Link

13:36 EDT Waste Management 'making progress' toward approval of Advanced transaction - In presentation slides posted to the website of Waste Management (WM), the company stated that it continues to work with the DOJ and is "making progress toward receiving the final antitrust regulatory approval required for closing" its pending Advanced Disposal Services (ADSW) acquisition. In the slides, the company added that it has "received significant inbound interest in potential assets to be divested." Reference Link

13:05 EDT Advanced Disposal Services quickly drops 3%, or $1.01, to $30.94

13:03 EDT Kimberly-Clark appoints Gustavo Ghory as chief supply chain officer - Kimberly-Clark Corporation announced that Gustavo Ghory has been named SVP and chief supply chain officer, effective July 1, 2020. Ghory will have global responsibilities for procurement, manufacturing, transportation, continuous improvement, sustainability, and quality, safety and regulatory operations. Ghory will report to Mike Hsu, Chairman and CEO of Kimberly-Clark, and become a member of the company's executive leadership team. Ghory was most recently at SmarterChains, a technology company focused on creating agile manufacturing operations for manufacturers around the world.

12:42 EDT Studio City International Holdings Limited (Class A ADS) trading resumes

12:37 EDT Ritter Pharmaceuticals announces expected closing of merger with Qualigen - Ritter Pharmaceuticals announced that its pending merger transaction with Qualigen, Inc. is currently expected to close after market hours today, Friday, May 22, 2020. As previously announced, Ritter's stockholders voted to approve the proposals required to complete the merger transaction, including a reverse stock split within a range of 1-for-25 to 1-for-35, as determined by Ritter's board of directors. In connection with these approvals, the board of directors of Ritter has approved a reverse stock split of Ritter's outstanding common stock at a ratio of one new share for every 25 shares outstanding, which is expected to become effective immediately prior to the consummation of the merger. Immediately following the closing, Ritter will be renamed "Qualigen Therapeutics, Inc.," and is expected to trade on The Nasdaq Capital Market on a post-reverse stock split basis under the new ticker symbol "QLGN" beginning on Tuesday, May 26, 2020. Qualigen, Inc. will be a wholly-owned subsidiary of Qualigen Therapeutics, Inc.

12:11 EDT Multiple COVID-19 vaccine trials underway with multiple candidates, Fauci says - Dr. Anthony Fauci, the director of the NIAID, is being interviewed on CNBC about the COVID-19 vaccine efforts underway at Moderna (MRNA) and a number of other pharmaceutical companies. Asked about if he is comfortable about the way in which Moderna released its early data to the public, Fauci said "that is what companies do." Ultimately, and "sooner rather than later," everyone will get a look at the data when it is submitted to a journal for peer review, Fauci added.

12:04 EDT Moderna phase 1 COVID vaccine trial had data that was 'really quite encouraging' - There is "still a long way to go," but this first step in Moderna's COVID-19 vaccine trial was "really quite encouraging," Fauci said, echoing comments he made in a CNN town hall and an interview with NPR about the company's early trial results. Dr. Anthony Fauci, the director of the NIAID, is being interviewed on CNBC.

12:00 EDT Foot Locker falls -11.5% - Foot Locker is down -11.5%, or -$3.37 to $25.95.

12:00 EDT HP Enterprise falls -12.5% - HP Enterprise is down -12.5%, or -$1.29 to $9.06.

12:00 EDT BlueLinx rises 16.7% - BlueLinx is up 16.7%, or 85c to $5.91.

11:57 EDT Evofem gets FDA approval for new dosage form of Phexxi - Evofem's Phexxi is a combination of lactic acid, citric acid, and potassium bitartrate indicated for the prevention of pregnancy in females of reproductive potential for use as an on-demand method of contraception, prescribing information posted to the FDA website indicates. Reference Link

11:08 EDT Fresh Del Monte Produces opens new Fresh Cut plant in Yokohama - Fresh Del Monte Produce announced that its subsidiary Fresh Del Monte Japan Co., Ltd officially began operations in its newly completed plant in Yokohama, Japan. The state-of-the-art fresh cut plant, which has an annual production capacity of 10,000 tons of fruits and vegetables, will serve as a manufacturing base that satisfies the increasing need for ready-to-eat fresh and convenient fruits, salads and vegetables across Japan. Fresh Del Monte Produce broke ground on the $19M facility last year and built in stringent hygiene protocols and a cutting-edge low-temperature air condition management system to maintain product quality and freshness.

10:32 EDT NPD's Piscatella says April video game spending totaled $1.5B, up 73% y/y - NPD Group analyst Mat Piscatella said via Twitter that April 2020 tracked spending across Video Game Hardware, Software, Accessories and Game Cards totaled $1.5B, 73% higher when compared to a year ago. This is a new record high in reported spend for an April month, eclipsing the $1.2B generated in April 2008, Piscatella said. Year-to-date 2020 tracked spending across Video Game Hardware, Software, Accessories and Game Cards reached $4.5B, increasing 12% when compared to a year ago. Dollar sales of tracked Video Game Software increased 55% in April compared to a year ago, to $662M. This is a new record high for an April month. The previous record of $642M was set in April 2008. Year-to-date sales of tracked Video Game Software now exceed $2B, 6% higher when compared to a year ago. Piscatella noted that Square Enix's "Final Fantasy VII Remake," which is a PlayStation 4 (SNE) exclusive, debuted as the best-selling game of April, making the game the third best selling game of 2020 so far, behind Activision Blizzard's (ATVI) "Call of Duty: Modern Warfare" and Nintendo's (NTDOY) "Animal Crossing: New Horizons." Other publicly traded companies in the video game sector include Take-Two (TTWO), Electronic Arts (EA), Ubisoft (UBSFY), Microsoft (MSFT), Capcom (CCOEY), GameStop (GME), and Tencent (TCEHY). Reference Link

10:30 EDT Deere sees FY20 worldwide Construction & Forestry revenue down 30%-40% - Sees FY20 worldwide Construction & Forestry operating margin down 2%-4%.

10:00 EDT Sasol falls -8.8% - Sasol is down -8.8%, or -42c to $4.39.

10:00 EDT Youdao falls -16.4% - Youdao is down -16.4%, or -$3.95 to $20.11.

10:00 EDT Deckers Brands rises 10.3% - Deckers Brands is up 10.3%, or $17.39 to $185.42.

09:48 EDT Lancet posts Phase I data of CanSino COVID-19 vaccine in 108 patients - The Lancet published results from a dose-escalation, single-center, open-label, non-randomized, Phase 1 trial of CanSino Biologics' recombinant adenovirus type-5 vectored COVID-19 vaccine in Wuhan, China. Of the 108 enrolled participants, at least one adverse reaction within the first seven days after the vaccination was reported in 30 participants in the low dose group, 30 participants in the middle dose group, and 27 participants in the high dose group. The most common injection site adverse reaction was pain, which was reported in 58 vaccine recipients, and the most commonly reported systematic adverse reactions were fever, fatigue, headache and muscle pain. The Lancet concluded, "The Ad5 vectored COVID-19 vaccine is tolerable and immunogenic at 28 days post-vaccination. Humoral responses against SARS-CoV-2 peaked at day 28 post-vaccination in healthy adults, and rapid specific T-cell responses were noted from day 14 post-vaccination. Our findings suggest that the Ad5 vectored COVID-19 vaccine warrants further investigation." Reference Link

09:26 EDT Twilio jumps 4% after New York City selects for COVID contact tracing - Shares of Twilio are moving higher after New York City selected the company's communications platform for its COVID-19 contact tracing initiative. The city is planning to deploy a cloud-based contact center on Twilio Flex and leverage Twilio SMS and Voice as key parts of the City's COVID-19 tracing program, the company said in a statement. Twilio sadi it is working with government agencies and health departments to deploy and scale their contact tracing solutions. Shares of Twilio are up 4%, or $7.57, to $201.57 in premarket trading.

09:15 EDT Orgenesis collaborates with Hospital Infantil Universitario Nino Jesus, Madrid - Orgenesis announced a research and development collaboration with Hospital Infantil Universitario Nino Jesus, Madrid, Spain, through its Biomedical Research Foundation, FIB, to establish a point-of-care center leveraging Orgenesis' cell and gene therapy focused POCare Platform. Under the collaboration agreement, FIB Hospital Infantil Universitario Nino Jesus will utilize Orgenesis' CGT Biotech Platform to develop, optimize and manufacture cell and gene therapies. Orgenesis' POCare Technologies enable hospitals to develop and supply cell and gene therapies, including Orgenesis' proprietary POCare Therapies, by implementing Orgenesis' proprietary know-how combined with automated, closed technology to process select cell therapies at each point-of-care site for the treatment of patients. The first collaboration under the agreement between FIB Hospital Infantil Universitario Nino Jesus and Orgenesis involves the clinical development and validation of T-cell and dendritic cell-based therapies. Orgenesis' CGT Biotech Platform, which combines processing and therapeutic technologies, is designed to allow for the efficient production of high quality, affordable cell and gene-based products. Upon successful completion of the first collaboration, Orgenesis and FIB Hospital Infantil Universitario Nino Jesus then plan to pursue the development of the Hospital's oncolytic based cell therapy technology, Celyvir. This proprietary program represents a new strategy for the treatment of solid metastatic tumors based on oncolytic virotherapy administered by mesenchymal cells obtained from bone marrow.

09:07 EDT XpresSpa signs contract with JFK International Air Terminal for COVID-19 testing - XpresSpa Group provided a business update related to its objective of pursuing COVID-19 screening and testing in convenient and accessible locations at U.S. airports. The Company is pleased to announce that it has signed a contract with JFK International Air Terminal to pilot test its concept of providing diagnostic COVID-19 tests located in Terminal 4. To facilitate the JFK pilot test, the Company has signed an agreement with JFKIAT for a new modular constructed testing facility within the terminal. The site will host nine separate testing rooms with a capacity to administer over 500 tests per day. The Company intends to offer its services to airline employees, contractors and workers, concessionaires and their employees, TSA officers, and U.S. Customs and Border Protection agents. All COVID-19 screening and testing will be conducted by a newly launched brand, XpresCheck, which will operate under the Company's XpresTest subsidiary. The Company is also working closely with the Port Authority of New York and New Jersey to bring XpresCheck locations to other locations. A formal announcement with additional details is expected to be made in the coming weeks in conjunction with the Port Authority of New York and New Jersey and JFKIAT. In addition, the Company is in discussions with other U.S. airports regarding the temporary conversions of existing XpresSpa locations into XpresCheck testing sites as it looks to roll out this concept further. The Company also announced the launch of XpresCheck, the operating brand under which the Company's previously formed XpresTest subsidiary will screen and test for COVID-19. Although the JFK pilot test site will be in a newly constructed modular facility, the Company is discussing temporary conversions of existing XpresSpa locations into XpresCheck testing sites as it looks to roll out this concept to other U.S. airports.

09:04 EDT Greenpro Capital signs Letter of Intent to acquire 18% in First Bullion - Greenpro Capital announced that the Company has entered into a non-binding Letter of Intent with First Bullion Holdings and its subsidiaries and with the shareholder of First Bullion to acquire an 18% equity interest of First Bullion. "First Bullion is in the business of banking, payment gateway, credit cards, debit cards, money lending, crypto trading and securities token offering and with corporate offices in the Philippines and Hong Kong. This potential acquisition will enhance and strengthen the business of Greenpro's services comprising company formation, trust and asset protection, family office, financial planning and management, fund management and asset management, which will complement those services offered by First Bullion. The partnership will complement the services of Greenpro and First Bullion where clients will be crossed referred to each other and to assist our mutual international clients from around the world more efficiently and effectively with a higher standard of quality services. Greenpro expects to sign a binding definitive agreement with First Bullion on or before June 30, 2020, subject to completion of due diligence."

09:01 EDT Kinross Gold announces suspension of strike at Tasiast mine - Kinross Gold Corporation announced that the strike by unionized employees at its Tasiast mine has been suspended at the request of the Government of Mauritania. The recent shutdown, which began on May 5th and ended today, is not expected to materially affect 2020 production or the development of the 24k expansion. The company said, "The Company has adhered to the three-year collective labour agreement finalized in Q4 2019, all applicable labour codes, and rigorously complied with all government mandates related to COVID-19 prior to the strike and will continue to do so going forward. While the Company disagrees with the basis for the strike, it remains open to discussions with the staff delegates."

08:56 EDT Medexus reports Q4 preliminary unaudited sales for IXINITY of $8.3M - Medexus Pharmaceuticals (PDDPF) provided an update on its business in light of the recent transformative acquisition of the commercial hematology asset, IXINITY, the resulting re-organization and alignment of Medexus' U.S.-based business and the Company's ongoing response to the COVID-19 pandemic. With the Company's acquisition of Aptevo BioTherapeutics (APVO), which owns the IXINITY asset, from Aptevo Therapeutics having closed on February 28, 2020, the fiscal fourth quarter ending March 31, 2020 is the first quarter that includes revenue for Medexus from sales of IXINITY. On May 13, 2020, Aptevo announced its financial results for its quarter ended March 31, 2020, which included two months of pre-Acquisition sales of IXINITY by Aptevo and one post-Acquisition month of the 2% royalty Medexus pays to Aptevo on sales of IXINITY by Medexus. Aggregate preliminary unaudited sales estimates for IXINITY during Q4 2020 totaled $8.3M, which represents an 18.5% year over year increase. Approximately 85% of those IXINITY sales accrued to the benefit of Medexus post-Acquisition and as such, the addition of IXINITY was highly accretive to Medexus for the quarter. The revenues from IXINITY for March 2020 are in line with the Company's expectations, including that the majority of the quarterly revenue from IXINITY would be recognized in the final month of Q4 2020. The Company expects to announce its full audited financial results for Q4 2020 and for the fiscal year ended March 31, 2020 in the normal course before the end of June 2020, but the Company felt it was important to provide this context to its shareholders in light of the disclosures provided by Aptevo and given the timing and impact to the Company of the Acquisition. The integration of IXINITY is progressing in line with the Company's expectations, and the Company sees significant potential for further growth in sales of the product as the Company leverages its integrated and expanded sales force in the U.S. As part of the integration process, effective immediately, Michael Adelman has been appointed as the General Manager of Medexus' U.S. operations. Mr. Adelman joined Medexus from Aptevo immediately following the completion of the Acquisition. Also effective immediately, Terri Shoemaker will no longer serve as the Company's President, U.S. Operations. As announced on May 7, 2020, the Company also completed its financing package with MidCap Financial Trust in respect of a secured asset-based revolving credit facility having a term of 38 months. The ABL Facility features a $20M revolving commitment and uncommitted $10M accordion. Borrowings under the ABL Facility bear interest at a rate of one-month LIBOR plus 3.95%, subject to a LIBOR floor of 1.50%. The financing package with MidCap Financial allowed the Company to finance the Acquisition without the issuance of additional shares of the Company. Finally, the Company continues to work diligently to assess and address the risks and operational challenges posed by the COVID-19 pandemic. While the situation continues to evolve, the Company believes it has largely been successful in conducting business as usual to the extent possible. To date, none of the Company's employees have reported testing positive for the COVID-19 virus, and management continues to carefully monitor the Company's supply and downstream network. Medexus' supply chain remains secure and the Company is not aware of any disruption to the supply of any of its products to the patients who depend on them.

08:46 EDT CAE CEO sees 1H21 'marked by sharply lower demand' - CEO Marc Parent on CAE's outlook, "As we look to the fiscal year ahead, we believe it will be a tale of two halves, with the first-half of the year marked by sharply lower demand and major disruptions to our operations, and the second-half, slightly more positive as markets potentially begin to reopen and travel restrictions ease. For the year overall, we expect a material decrease in operational and financial performance. Much uncertainty persists with respect to the duration and severity of the market downturn, and while COVID-19 may not have been foreseeable, our business is resilient by design. We entered this pandemic from a position of strength, with a global leading market position, a balanced business with recurring revenue streams, and a solid financial position. We have taken decisive yet flexible actions to help protect our people and operations over the short-term and to give us the necessary agility to resume long-term growth when global air travel eventually returns. We realize that it may be some time before things get back to normal, and based on our scenario analysis, we have the liquidity to weather the storm with upwards of $2 billion in cash and available credit. CAE is a highly innovative company with over seven decades of industry firsts under its belt. At the same time as we manage through the pandemic, we are focused on the future, and I expect we will ultimately be stronger for it."

08:42 EDT Hebron Technology enters share purchase agreement with Nami Holding - Hebron Technology announced that it has entered into a definitive share purchase agreement with Nami Holding Co., Ltd. and Nami Holding Co., Ltd, shareholder of Nami, to acquire all of the outstanding ordinary shares of Nami. Nami is the parent company of a financial advisory services group comprising subsidiaries and a contractually controlled operating company in China. Pursuant to the Agreement, the Seller will receive aggregate consideration of approximately $25.38M valued as of the date the Agreement was executed, consisting of approximately $7.05M in cash and 1,562,726 shares of the company's Class A common shares, par value $0.001 per share, based on the weighted average closing price for the five trading days immediately prior to the execution of the Agreement.

08:40 EDT Norwood Financial clarifies web address for virtual Annual Meeting - Norwood Financial announced a clarification of the web address for the Annual Meeting of Stockholders to be held over the internet in a virtual meeting format only on May 26, 2020, at 11:00 a.m. local time. The virtual meeting will be hosted at www.meetingcenter.io/258232153. The password for the meeting is NWFL2020. If you have previously voted, it is not necessary to vote at the meeting unless you wish to change your vote. Previously, the web address included the prefix https://. Norwood was recently advised that inclusion of such prefix in the web address has made it difficult to access the website. For this reason, the Company suggests that stockholders wishing to attend the Annual Meeting use the web address shown above, which is also posted on the Company's website at https://www.waynebank.com/stockholder-services.

08:31 EDT MicroVision board member Perry Mulligan resigns - MicroVision announced that on May 21, 2020 Perry Mulligan resigned from the board of directors. Mulligan served as director of the company since January 2010 and was CEO from November 2017 to February 2020.

08:14 EDT Intercept sinks after FDA requests additional data on liver fibrosis drug - Shares of Intercept Pharmaceuticals are dropping after the FDA postponed the advisory committee meeting relating to its new drug application for obeticholic acid for the treatment of liver fibrosis due to nonalcoholic steatohepatitis that was tentatively scheduled June 9. The postponement will accommodate the review of additional data requested by the FDA that the company intends to submit within the next week, Intercept said in a statement. The FDA has indicated that it will reach out to Intercept in the near future with a new proposed AdCom date, it added. Intercept now anticipates that the FDA's review of its NDA will extend beyond the Prescription Drug User Fee Act target action date of June 26. "While this delay was unanticipated, following our most recent dialogue with the FDA we believe that the additional data being submitted will be important in facilitating a more informed discussion at the AdCom," said Mark Pruzanski, CEO Intercept. "We remain confident in our NDA submission and look forward to continuing to work with the FDA to bring the first treatment to patients with advanced fibrosis due to NASH." Shares of Intercept are down 11% to $82.00 in premarket trading.

08:09 EDT Molecular Templates announces $45M debt financing from K2 HealthVentures - Molecular Templates announced it has secured a debt financing facility for up to $45M from K2 HealthVentures. MTEM received a first tranche of $15M upon closing, a portion of which has been used to repay the remaining indebtedness that was outstanding under the Company's prior credit facility. Two subsequent tranches totaling up to $30M will become available to MTEM, at its option, upon the achievement of certain milestones with respect to the second tranche and, subject to lender consent and certain additional conditions with respect to the third tranche.

08:07 EDT Ampio files IND applications for Ampion with FDA - Ampio is developing therapies for patients infected with the SARS-CoV-2 virus. Ampio has filed Investigative New Drug applications for Ampion with the FDA and has maintained ongoing dialog with the FDA regarding the company's development of treatment options which includes inhalation and intravenous applications for COVID-19 affected patients. Years of extensive in-vitro studies on cell cultures have confirmed that the mechanism of action of Ampion may be suitable for the treatment of inflammatory conditions, such as acute respiratory distress syndrome and the cytokine storm, associated with COVID-19.

08:05 EDT Ryman Hospitality terminates deal with Stratus Properties to purchase Block 21 - Stratus Properties (STRS) announced that Ryman Hospitality (RHP) terminated its agreement with Stratus to purchase Block 21, Stratus' wholly owned mixed-use real estate development and entertainment business in downtown Austin, Texas. As a result of the termination of the transaction, Ryman has forfeited to Stratus Ryman's $15M of earnest money deposited in escrow in connection with the execution of the purchase agreement in December 2019.

08:03 EDT Ryman Hospitality terminates agreement to purchase Austin, Texas complex - Ryman Hospitality Properties (RHP) announced the termination of its agreement with Stratus Properties (STRS) to purchase the Block 21 mixed-use development in Austin, Texas. As a result of the termination of the transaction, the Company will forfeit its nonrefundable deposit of $15M provided to Stratus in connection with the execution of the purchase agreement in December 2019.

08:01 EDT Twin River Worldwide reopens Hard Rock Biloxi MS casino - Twin River Worldwide announced the reopening of its Hard Rock Hotel and Casino Biloxi in Biloxi, MS effective Thursday May 21st. Hard Rock Biloxi is the company's second largest casino operation, and represents approximately 20% of the company's current portfolio. With respect to Twin River's six casinos in Rhode Island, Delaware and Colorado, the company is actively preparing for the resumption of gaming operations. The company is working closely with the respective state regulators and public health officials to finalize the comprehensive reopening plans for its other properties. Among other things, these plans include potential screening of team members and guests upon entrance of the properties; thermal imaging cameras; enforcement of social distancing guidelines; including spacing between VLTs and limited or no table games to start; frequent cleaning and sanitizing protocols for all areas; mask protection requirements; and public awareness signage. The company will provide updated information on the reopening of these additional properties upon receiving all necessary approvals.

07:56 EDT FIMI commences $2.95 per share cash special tender offer for Magal Security - FIMI Opportunity V, L.P and FIMI Israel Opportunity Five, Limited Partnership announced that they have commenced a cash special tender offer to purchase 8,669,029 ordinary shares of Magal Security Systems for $2.95 per share. If more than the maximum number of shares offered to be purchased in the tender offer are tendered, FIMI will purchase Magal shares on a pro rata basis. FIMI, a controlling shareholder of Magal, currently owns 9,854,159 ordinary shares of Magal, representing approximately 42.6% of Magal's issued and outstanding shares. If FIMI purchases 8,669,029 Magal shares in the tender offer, FIMI will own approximately 80.0% of Magal's issued and outstanding shares. On May 21, the last trading day before the announcement of the offer, the closing sale price per Magal share on Nasdaq as reported by Nasdaq was $3.00. The initial period of the tender offer and withdrawal rights is scheduled to expire at 10:00 a.m., New York time, on June 22, unless the initial period is extended by FIMI. As required by Israeli law, if the conditions to the offer are satisfied as of the completion of the initial offer period, FIMI will provide an additional period of four calendar days during which shareholders may tender their shares, which additional offer period will expire at 10:00 a.m., New York time, on June 26. However, shareholders will have no withdrawal rights during such additional four-calendar day period.

07:46 EDT Alibaba says seeing signs of recovery in certain major markets in April - Expects movement to the cloud to accelerate due to COVID-19 pandemic. Comments taken from Q4 earnings conference call.

07:36 EDT Teligent expects reverse stock split to be effectuated on May 28 - The company said, "Nasdaq issued File Number SR-NASDAQ-2020-021 permitting a longer period of time for companies to regain compliance. This notification deferred our previously communicated deadline of June 1, 2020. However, the Company intends to effectuate a reverse stock split in the ratio of 10:1 in order to remove the uncertainty that a potential de-listing presents to current and future investors. We anticipate the reverse split will be effectuated on May 28, 2020."

07:32 EDT Best Buy to re-open approximately 600 additional stores by June 13 - Bed Bath & Beyond announced plans to re-open more stores and further expand store fulfillment services as part of its phased approach to re-opening stores across North America, subject to state and local regulations. The company plans to take the following steps by June 13: Re-open approximately 600 additional stores to the public, including approximately 500 Bed Bath & Beyond stores across North America, as well as around 50 Christmas Tree Shop stores and around 50 Cost Plus World Market stores in the US. In addition to buybuy BABY and Harmon Face Values stores, which remain open to serve essential infant, health and personal care needs, this means around 50% of the Company's total store fleet is expected to be open by June 13. Expand contactless curbside pickup services to approximately 1,350 stores in total, adding a further 600 additional locations. Contactless curbside will be available at approximately 90% of the company's total store fleet across the US and Canada. Bring approximately 11,000 associates back from furlough as stores re-open to the public and services are expanded across North America. While the company continues its measured approach to re-opening stores, it expects around half of its stores across its retail banners to remain closed to the public through June 13, 2020. In conjunction with the decision to further extend temporary store closures, Bed Bath & Beyond will also extend the furlough of the majority of store associates and a portion of corporate associates until at least June 13, 2020. As stores re-open during this period, the company expects to bring approximately 11,000 associates back from furlough. The company will continue to pay 100% of the cost of healthcare premiums for all furloughed associates who currently participate in the Company's health plan, until further notice.

07:19 EDT Akazoo plans to consent to Nasdaq decision to delist securities - In an filing with the SEC yesterday, the company said, "On May 15, 2020, the Company received a letter for The Nasdaq Stock Market, which states that the Nasdaq Listing Qualifications staff has determined to delist the Company's securities pursuant to its discretionary authority under Listing Rule 5101. In its determination, the Nasdaq Staff cited the Company's disclosure regarding circumstances related to the termination of the Company's former CEO and the related investigation by the special committee of independent directors, as well the announcement that the Company's publicly filed financial statements can no longer be relied upon. The Nasdaq Staff also advised the Company that its failure to timely file it Form 20-F, as required by listing Rule 5250(c), serves as an additional basis for delisting. The Company intends to consent to the Nasdaq Staff's decision to delist the Company's securities. The deadline for the Company to request an appeal is May 22, 2020. The Company does not intend to appeal the decision, and as a result, the Company's securities will be suspended from trading on Nasdaq at the opening of business on May 27, 2020."

07:18 EDT Akazoo Special Committee determines former management defrauded investors - In an filing with the SEC yesterday, the company said, "On May 21, 2020, the Board of Directors of Akazoo announced the results of the previously announced investigation into the circumstances relating to the Company's revenue sources and contractual arrangements with business partners, including the information contained in a report released by Quintessential Capital Management on April 20, 2020. The Investigation was conducted by a special committee of independent directors formed by the Board on April 22, 2020. The Special Committee, with the assistance of outside counsel and advisors, has substantially completed the Investigation and determined that former members of Akazoo's management team and associates defrauded Akazoo's investors, including the predecessor SPAC acquiring entity Modern Media Acquisition Corp. by materially misrepresenting Akazoo's business, operations, and financial results as part of a multi-year fraud. The Board previously announced on May 1, 2020 that, at the recommendation of the Special Committee, the Board had terminated Apostolos Zervos as CEO of the Company for cause, requested that Mr. Zervos resign as a member of the Board and appointed Michael Knott as interim CEO. At that time, the Board announced that certain consolidated financial statements of the Company and Akazoo Limited filed or furnished with the U.S. Securities and Exchange Commission should no longer be relied upon due to the possibility that such financial statements contain material errors. Subsequently, the Special Committee has determined, among other things, that Akazoo's historical financial statements were materially false and misleading, that Akazoo has had only negligible actual revenue and subscribers for years and that former members of Akazoo management and associates participated in a sophisticated scheme to falsify Akazoo's books and records, including due diligence materials provided to MMAC and its legal, financial, and other advisors in connection with the Akazoo business combination in 2019. The Company intends to take all available steps to maximize recovery for defrauded investors, including by seeking to unwind the original business combination between MMAC and Akazoo. The Special Committee has also directed its advisors to make referrals to, and cooperate with, appropriate regulators."

07:11 EDT Keros selects KER-012 as product candidate for further development - KER-012 for the treatment of disorders associated with bone loss and for the treatment of pulmonary arterial hypertension: Keros has selected KER-012 as a product candidate for further preclinical and clinical development.

07:10 EDT Keros plans to report topline data of Phase 1 trial of KER-050 at EHA Congress - KER-050 for the treatment of ineffective hematopoiesis to address cytopenias: In January 2020, Keros completed a randomized, double-blind, placebo-controlled, two-part, dose-escalation Phase 1 clinical trial of KER-050 in 48 healthy post-menopausal women. Keros plans to report the positive topline data from this trial at the virtual 25th Congress of the European Hematology Association taking place June 11-14 2020. In addition, two abstracts outlining data from preclinical studies of KER-050 in multiple animal models have been accepted for presentation at the 25th Congress of the EHA taking place from June 11 to 14, 2020. Commencement of an open-label Phase 2 clinical trial of KER-050 evaluating the treatment of cytopenias, including anemia and thrombocytopenia, in patients with very low-, low- or intermediate-risk myelodysplastic syndromes is expected in the second half of 2020, subject to any delays related to the COVID-19 pandemic.

07:05 EDT iClick Interactive Asia 'seeing conditions gradually improve in China' - The company said, "We are seeing conditions gradually improve in China. Under the current macroeconomic environment, we anticipate that brands may allocate more of their advertising budgets to mobile and online targeted marketing, with the potential to benefit our mobile and performance-focused Marketing Solutions business. Brands may also see the importance of online and offline consumer behavioural data integration and analysis, which may favour our Enterprise Solutions business. Thus, we remain cautiously optimistic especially as we see strength in certain areas such as e-commerce, online gaming and online education, while it may take additional time for other sectors, such as travel and hospitality, to fully recover."

07:02 EDT Kitov announces FDA acceptance of IND application for Phase 1/2 trial of NT219 - Kitov Pharma announced that the U.S. Food and Drug Administration has accepted its Investigational New Drug application to conduct a Phase 1/2 clinical trial of NT219, a novel agent addressing treatment resistance in advanced cancer. The study will evaluate NT219 as monotherapy treatment of advanced solid tumors and in combination with cetuximab, an epithelial growth factor receptor blocking monoclonal antibody, for the treatment of recurrent or metastatic solid tumors and head and neck cancer or colorectal adenocarcinoma. The primary objectives of the open-label Phase 1/2 trial are to evaluate safety, assess pharmacokinetics, identify the appropriate dose to be studied in the Phase 2 portion, and establish preliminary efficacy of NT219. The Phase 1 portion of the study will encompass a dose escalation evaluation of NT219 monotherapy administered weekly in patients with refractory advanced solid tumors. Upon reaching the third dose to be given, a second cohort of patients, with either recurrent or metastatic squamous cell carcinoma of the head and neck or colorectal adenocarcinoma, will be dosed weekly with NT219, dose escalated, in combination with cetuximab. Upon completion of the mono and combination therapy Phase 1 portion of the trial and establishment of the recommended Phase 2 dose for NT219, an expansion Phase 2 component of the study will be commenced at the recommended Phase 2 dose of NT219 in combination with cetuximab in patients with recurrent/metastatic squamous cell carcinoma of the head and neck. In previously completed preclinical studies, NT219 has demonstrated compelling anti-tumor activity, as both monotherapy and in combination with cetuximab. Most recently, in an abstract published at the American Association of Cancer Research Virtual Meeting II website, positive preclinical data were presented showing that NT219 demonstrated growth inhibition, both as monotherapy, as well as in combination with cetuximab or pembrolizumab, a programmed cell death protein 1 inhibitor, in multiple patient-derived xenograft models of subjects with head and neck squamous cell carcinoma.

06:55 EDT Foot Locker reports Q1 merchandise inventories $1.46B - Foot Locker said in its Q1 earnings release, "As of May 2, the company's merchandise inventories were $1.46B, 20.4% higher than at the end of Q1 last year. Using constant currencies, inventory increased 21.3%. The company's cash and cash equivalents totaled $1.01B, while the debt on its balance sheet was $451M, which includes $330M borrowed from the company's credit facility."

06:53 EDT Ra Medical Systems receives continued listing standard notice from NYSE - Ra Medical Systems announced receipt of written notice from The New York Stock Exchange indicating that Ra Medical is no longer in compliance with the NYSE's continued listing standards as set forth in Section 802.01C of the NYSE's Listed Company Manual, which requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period.

06:51 EDT AstraZeneca reports Enhertu granted orphan status in U.S. for gastric cancer - AstraZeneca and Daiichi Sankyo Company's Enhertu has been granted Orphan Drug Designation in the U.S. for the treatment of patients with gastric cancer, including gastroesophageal junction cancer, the companies announced. Earlier this month, Enhertu received two Breakthrough Therapy Designations for its potential use in HER2-positive unresectable or metastatic gastric cancer and HER2-mutant metastatic non-small cell lung cancer. Enhertu also received SAKIGAKE designation from Japan's Ministry of Health Labour and Welfare for potential use in HER2-positive gastric cancer in March 2018. A supplemental New Drug Application was recently submitted to the MHLW.

06:34 EDT Pinduoduo reports Q1 average monthly active users 487.4M, up 68% y/y - Active buyers in the twelve-month period ended March 31, 2020 were 628.1M, an increase of 42% from 443.3M in the twelve-month period ended March 31, 2019.

06:15 EDT Vodafone names Heineken CEO Jean-Francois Van Boxmeer as new chairman - Vodafone (VOD) announced that Jean-Francois Van Boxmeer will be appointed as a Non-Executive Director following the company's Annual General Meeting on 28 July 2020, subject to shareholder approval. It is the intention that he will succeed Gerard Kleisterlee as Chairman of the Board on 3 November 2020. Gerard Kleisterlee, who has been Vodafone's Chairman for nine years, will step down and retire from the Board on that date.Van Boxmeer is currently CEO of Heineken N.V. (HEINY). He has been Heineken's CEO since 2005 and will hand over the role to his successor in June 2020. Nick Read, CEO of Vodafone, said: "I am delighted that Jean-Francois will be joining Vodafone and becoming Gerard's successor. He has presided over a highly successful period of transformation and value creation at Heineken, has extensive international experience in driving growth through both B2B and B2C business models, and is highly-regarded as one of the longest standing and most successful CEOs in Europe. I look forward to Jean-Francois playing a key role in the next stage of Vodafone's strategic development."

06:09 EDT Tuniu receives Nasdaq notice of noncompliance - Tuniu announced that it received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market dated on May 18, indicating that for the last 30 consecutive business days, the closing bid price for the Company's American depositary shares, each representing three Class A ordinary shares of the Company, was below the minimum bid price of $1.00 required for continued listing under Nasdaq Listing Rule 5450(a)(1). The company said, "The Nasdaq notification letter does not result in the immediate delisting of the Company's securities. Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days to regain compliance with the Nasdaq's minimum bid price requirement. The Notice also stated that given the extraordinary market conditions caused by COVID-19, Nasdaq has determined to toll the compliance periods for the bid price and market value of publicly held shares requirements through June 30. As a result, the tolling and 180 calendar day compliance period will expire on December 28, 2020. If at any time during the tolling period or 180 day compliance period, the closing bid price of the Company's security is at least $1.00 for a minimum of ten consecutive business days, the Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance by December 28, 2020, subject to the determination by the staff of Nasdaq, the Company may be eligible for an additional 180 calendar day compliance period as stated in the Notice. The Notice will have no effect on the operations of the Company's business, and the Company will take all reasonable measures to regain compliance."

05:52 EDT Hikma receives FDA approval for generic of Amarin's Vascepa - Hikma Pharmaceuticals (HKMPF) announced overnight that its wholly owned U.S. subsidiary Hikma Pharmaceuticals USA has received approval from the Food and Drug Administration for its Icosapent Ethyl Capsules, the generic equivalent to Amarin's (AMRN) Vascepa. In March 2020, the United States District Court for the District of Nevada invalidated six Vascepa patents owned by Amarin. The district court decision is currently being appealed. Brian Hoffmann, Hikma's President of Generics said, "The approval for our generic version of Vascepa is an important milestone towards bringing this product to market. This approval demonstrates the strength of our regulatory capabilities and our commitment to provide patients and healthcare providers in the US with the high-quality medicines they need." Shares of Amarin closed Thursday down 18c to $7.28.

05:10 EDT Caesars announces Las Vegas reopening plans - Caesars Entertainment announced that it will resume gaming and hospitality operations in Las Vegas at its Caesars Palace and the Flamingo Las Vegas properties on the date and time for reopening specified by the State of Nevada. The Company intends to comply with all reopening directives from Nevada Governor Steve Sisolak, the Nevada Gaming Control Board, and public health authorities. The Company also announced that it expects Harrah's Las Vegas Hotel & Casino and the gaming floor at LINQ Hotel & Casino to be the next properties in Las Vegas to reopen, with timing based on customer demand. "Both Caesars Palace and the Flamingo will offer lodging, dining options and access to their outdoor pools, as well as slot machines and table games. All offerings will operate in a manner consistent with physical distancing guidelines. The Company will be suspending fees for paid self-parking in Las Vegas. Additionally, the Company anticipates that several retail and dining outlets along the LINQ Promenade, as well as the High Roller Observation Wheel, will reopen.Some offerings, including live entertainment, bars, spas, buffets and valet parking will not be resuming immediately. However, when these amenities are restored, they will be operated in a manner consistent with physical distancing guidelines. Caesars' other Las Vegas properties and dining amenities are expected to reopen based on customer demand. Caesars Palace and the Flamingo will implement the Company's previously announced, enhanced health and safety protocols, which enhance the Company's existing plans and practices in these areas. Management at both properties is focused on the well-being of team members, guests and the community, and will work to create an environment with enhanced standards of sanitization and physical distancing practices. Among the enhanced health and safety protocols are more frequent cleaning and sanitization. Caesars is also implementing a health screening program for all employees to determine which employees will be required to be tested for COVID-19 before returning to work, and thereafter will conduct employee temperature checks before every shift. Team members will be required to wear masks, which will be provided by the Company. Guests will also be provided masks and will be strongly encouraged to wear them throughout their visit."