For the week of April 24 to April 28, 2017

Monday Tuesday Wednesday Thursday Friday

Monday's Business Reports


These business pages will run from Monday thru Friday. Different reports each day starting Monday and adding webpages throughout the week. Our Business Reports will feature local California companies.

 

Bank of Commerce Holdings Announces Relocation of Headquarters

REDDING, CA...April 24, 2017 - Randall S. Eslick, President and Chief Executive Officer of Bank of Commerce Holdings (NASDAQ:BOCH) (the "Company"), a $1.1 billion asset bank holding company and parent company of Redding Bank of Commerce (the "Bank"), today announced that the Company's Board of Directors has authorized the relocation of the Company's corporate headquarters from Redding, California to Sacramento, California.  In that regard, the Company has entered into an 89-month lease for office space in downtown Sacramento at 555 Capitol Mall.  The relocation will be effective when the Company takes occupancy of the new premises, which is expected to occur by August 1, 2017. 

Mr. Eslick commented:  "The relocation of our Bank Holding Company headquarters is intended to enhance our corporate profile in the investment marketplace and recognizes that organic growth of our subsidiary Bank is expected to be centered in the Greater Sacramento region.  The headquarters of Redding Bank of Commerce will remain in Redding, California, where the bank opened in 1982."

About Bank of Commerce Holdings

Bank of Commerce Holdings is a bank holding company headquartered in Redding, California and is the parent company for Redding Bank of Commerce which operates under two separate names (Redding Bank of Commerce and Sacramento Bank of Commerce, a division of Redding Bank of Commerce). The Bank is an FDIC-insured California banking corporation providing community banking and financial services through nine offices located in northern California. The Bank opened on October 22, 1982. The Company's common stock is listed on the NASDAQ Global Market and trades under the symbol "BOCH."

 

 

Organovo Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

SAN DIEGO, CA...April 24, 2017 - Organovo Holdings, Inc. (NASDAQ:ONVO) ("Organovo" or the "Company"), a three-dimensional biology company focused on delivering scientific and medical breakthroughs using its 3D bioprinting technology, announced the grant of inducement awards on April 24, 2017 to Taylor J. Crouch, its new chief executive officer and president.  The inducement awards were approved by the compensation committee of the Company's board of directors and issued as a material inducement to Mr. Crouch agreeing to join the Company in accordance with NASDAQ Listing Rule 5635(c)(4).

Pursuant to the terms of his offer letter, Mr. Crouch received a stock option to purchase 2,088,212 shares of Organovo's common stock (the "Stock Option") and a performance-based restricted stock unit award for 208,822 shares of common stock (the "PBRSU").  The Stock Option has an exercise price of $2.73 per share, which is equal to the closing price of Organovo's common stock on April 24, 2017.  One-fourth of the option shares will vest on April 24, 2018, and the remaining option shares will vest on a quarterly basis over the next three years, subject to Mr. Crouch's continuous service through the applicable vesting date.  The PBRSU will vest according to the Company's achievement of performance metrics approved and certified by the compensation committee.  The Stock Option and PBRSU both have ten year terms.  While the Stock Option and PBRSU were issued as inducement grants outside of the Company's 2012 Equity Incentive Plan (the "Plan"), the terms and conditions applicable to the Stock Option and PBRSU will be consistent with the Plan, the stock option and restricted stock unit awards previously granted to the Company's executive officers under the Plan and the Company's Severance and Change in Control Plan. 

About Organovo Holdings, Inc.
Organovo designs and creates functional, three-dimensional human tissues for use in medical research and therapeutic applications.  The Company develops 3D human tissue models through internal development and in collaboration with pharmaceutical, academic and other partners.  Organovo's 3D human tissues have the potential to accelerate the drug discovery process, enabling treatments to be developed faster and at lower cost.  The Company's ExVive Human Liver and Kidney Tissues are used in toxicology and other preclinical drug testing.  The Company also actively conducts early research on specific tissues for therapeutic use in direct surgical applications.  In addition to numerous scientific publications, the Company's technology has been featured in The Wall Street Journal, Time Magazine, The Economist, Forbes, and numerous other media outlets.  Organovo is changing the shape of life science research and transforming medical care.  Learn more at www.organovo.com.   

 

 

Veteran Venture Capitalist Tim Draper to Deliver Grand Keynote at TiEcon 2017

SUNNYVALE, CA...April 24, 2017 - TiE Silicon Valley, a not-for-profit organization dedicated to fostering global entrepreneurship, today announced Tim Draper, veteran venture capitalist and founding partner of Draper Associates and DFJ, as the grand keynote speaker at TiEcon 2017, which will be will be held May 5th and 6th at the Santa Clara Convention Center.

"I am excited to deliver the keynote at TiEcon. I have always been an advocate of entrepreneurship and this conference is a great platform to bring disruptors, technology firms and venture capitalists together for the cause of global entrepreneurship," Draper said. "I am looking forward to experiencing firsthand the entrepreneurial fervor of the conference and addressing some of the most innovative minds from Silicon Valley and around the world."

TiEcon 2017's robust list of over 100 presenters include seasoned entrepreneurs such as Mohit Aron, CEO of Cohesty, Florian Leibert, Founder & CEO, Mesosphere, and Sheng Liang, CEO of Rancher Labs, who will be sharing their entrepreneurial journeys along with lessons learned and helpful tips for aspiring entrepreneurs.

"We have a very exciting speaker lineup scheduled for TiEcon 2017. These are successful entrepreneurs and industry leaders who are leading technological innovations and are driving the hottest trends across the industry," said Manish Gupta, board member of TiE Silicon Valley and CMO of Redis Labs.

TiEcon 2017, the world's largest technology-anchored entrepreneurship conference, is expected to attract some 5,000 attendees and will focus on the hottest areas of innovation including machine learning, IoT, FinTech, security, autonomous vehicles, augmented and virtual reality, software defined infrastructure, drones, digital health, and many more.

Ranked alongside Demo, TED and World Economic Forum among the top 10 conferences worldwide for ideas and entrepreneurship, TiEcon has attracted over 50,000 entrepreneurs and professionals from over 50 countries since its inception.

 

 

OncoMed Announces Workforce Reduction

REDWOOD CITY, CA...April 24, 2017 - OncoMed Pharmaceuticals Inc. (NASDAQ:OMED), a clinical-stage biopharmaceutical company focused on discovering and developing novel anti-cancer therapeutics, announced today a significant reduction in its workforce to focus internal efforts on the advancement of three clinical-stage programs to key milestones and continued immuno-oncology drug discovery and development, while seeking to partner select pipeline assets. 

OncoMed will reduce its workforce by approximately 50 percent, resulting in 64 remaining full-time employees.  Through implementation of the plan announced today, OncoMed expects to realize significant cost savings of approximately $60 million over the next two years associated with personnel and operating expenses.  The company anticipates having sufficient cash to fund operations through Q3 2019, excluding any revenue generated from existing partnerships or potential new partnering arrangements. 

"We have an incredible team at OncoMed and it is a privilege to work with such an intensely passionate, dedicated and talented group committed to discovering and developing new treatments for patients with cancer.  I am deeply grateful for all the contributions that employees have made to advancing our novel anti-cancer therapeutics and we will do our best to support those affected by these changes through this difficult, but necessary, transition," said Paul J. Hastings, OncoMed's Chairman and CEO. 

Mr. Hastings continued, "With this restructuring, we expect to have greater than two years cash to support operations focused on driving our rosmantuzumab, navicixizumab and anti-TIGIT clinical-stage programs to $98 million in potential development milestone payments while advancing our immuno-oncology discovery-stage portfolio.  We plan to also explore partnering opportunities for our Wnt pathway and immuno-oncology agents to which we have worldwide rights."

As a result of its reprioritization efforts, OncoMed has aligned internal resources to deliver on potential drug discovery and development milestones, including:

OncoMed will also seek to maximize the value from potential interest in partnering the assets to which it has worldwide rights, such as vantictumab, ipafricept, GITRL-Fc trimer and undisclosed immuno-oncology discoveries.

OncoMed estimates the one-time severance-related charges of $2.6 million related to termination benefits and other related expenses.  The majority of the charges will be paid by the end of the second quarter of 2017.  As a result of these changes, the company also adjusted guidance for its anticipated 2017 expenses to approximately $90 million, as compared to prior estimates of approximately $100 million. 

About OncoMed Pharmaceuticals
OncoMed Pharmaceuticals is a clinical-stage biopharmaceutical company focused on discovering and developing novel anti-cancer therapeutics.  OncoMed has internally discovered a broad pipeline of investigational drugs intended to address the fundamental biology driving cancer's growth, resistance, recurrence and metastasis.  Demcizumab (anti-DLL4, OMP-21M18), navicixizumab (anti-DLL4/VEGF bispecific, OMP-305B83), rosmantuzumab (anti-RSPO3, OMP-131R10) and anti-TIGIT (OMP-313M32) are part of the company's strategic alliances with Celgene Corporation.  OncoMed is independently developing vantictumab (anti-Fzd, OMP-18R5), ipafricept (Fzd8-Fc, OMP-54F28) and GITRL-Fc (OMP-336B11), as well as continuing to pursue new drug discovery research.  For further information about OncoMed Pharmaceuticals, please see www.oncomed.com.


 

 

Reed's, Inc. Announces 2016 Financial Results; Chris Reed Takes on New Role as Chief Innovation Officer

LOS ANGELES, CA...April 24, 2017 - Reed's, Inc. (NYSE MKT:REED), maker of the top-selling sodas in natural food stores nationwide, today announced the financial results for its fiscal full-year ended December 31, 2016.  In addition to the earnings results the Company announced today in a separate press release the appointment of Stefan Freeman as Interim Chief Executive Officer and Founder and former Chief Executive Officer Chris Reed to the newly created position of Founder and Chief Innovation Officer.  The Company also issued a separate press release today announcing the closing of a $3.4 million private placement transaction.

Chris Reed, Founder and Chief Innovation Officer commented, "Reed's has never had a more impressive portfolio of new products waiting to launch in the history of the Company. My transition from CEO to Chief Innovation Officer allows me to focus my full energies to bringing these exciting new products to fruition.  We have developed the first natural soda fountain products and have it in trial at a large national fast casual restaurant chain. These soda fountain versions of our popular natural sodas allow restaurants and other fountain concessions to buy our products for significantly less than the full packaged bottled price and at competitive prices to other fountain products.  This supports our strategy for opening up new markets and strengthening our brand equity. In addition, we have developed a compelling line of full flavor, all natural, low calorie sodas that we believe taste identical or better than their full calorie counterparts. I believe that these new product ideas have such significant potential that we will be reaching out to form strategic partnerships, including with larger beverage companies, to help with their implementation."

Interim Chief Executive Officer, Stefan Freeman commented, "The Company is going through a critical transition.  I would like to thank Chris Reed who did a phenomenal job building this business from scratch and is truly a pioneer in the craft soda industry. We are excited about his new role as Chief Innovation Officer and his exclusive focus on product development. We have the best craft sodas in the marketplace and we intend to be the growth leader in this space.  We are targeting greater operational efficiencies and better margins and we believe that will translate into more profitability and accelerated marketing programs. I am excited to be here and look forward to reporting our progress and enhancing shareholder value."

The 2016 audited financial results for the Company were as follows: 

For the full year 2016 compared to the full year 2015:

Operational Highlights 

Dan Miles, Chief Financial Officer of Reed's, Inc. commented, "The supply chain issues in the third quarter of 2015 created residual and significant issues entering 2016 primarily related to lost shelf space at our retailers.  Our supply chain recovered in 2016 and we shipped at 95% of orders, a significant year over year improvement.  We focused our initial priority on our Reed's Ginger Brew product line and it drove slight growth for the year.  The Virgil's product line was our next priority and was down about 10% for the year. Our Reed's Culture Club Kombucha was hit the hardest and has taken longer to get back in stock and on the shelves. Gross sales of Kombucha were down 54% in 2016 and caused the most sales impact in our year over year comparison. A primary impact to gross margins in 2016 were packaging and ingredient costs that were not offset by price increases and by idle plant costs due to lower sales volumes of Kombucha produced exclusively at the LA plant as well as other products manufactured at the LA facility.  Our current plans to improve margins in 2017 include a combination of plant projects coming online, better packaging pricing and innovations and better sourcing to save on raw materials. The $3.4 million financing transaction announced today strengthens our financial position significantly and will help us achieve our objectives. I look forward to working under the leadership of Stefan Freeman, our new Interim CEO, who has extensive operational experience to support our sales recovery."

Preliminary First Quarter 2017 Results:

The Company expects to report revenues for the first quarter of 2017 ended March 31, 2017 of approximately $8.3 million versus $10.0 million in the prior year period.   The lower sales volume will have an impact on both gross margins and operating margins.

Conference Call Details

The Company will conduct a conference call at 10:30 am pacific time today, April 24, 2017 to discuss its 2016 results. To participate in the call, please dial the following number 5 to 10 minutes prior to the scheduled call time (800) 683-3233. International callers should dial +1 (303) 223-2692.

A replay of the call will be available on the Reed's website at www.reedsinc.com in the "Investors" section following the earnings call within a day.


 

 

Reed's, Inc. Announces Stefan Freeman as Interim CEO

LOS ANGELES, CA...April 24, 2017 - Reed's, Inc. (NYSE:REED), maker of the top selling sodas in natural food stores nationwide, today announced the resignation of Chris Reed as the Chief Executive Officer of Reed's, Inc. Chris Reed will remain on the board of directors and will serve in the newly created position of Chief Innovation Officer with the focus on developing and launching new and exciting products and flavor profiles. The Company's board of directors has named director and chairman of the compensation committee Stefan Freeman as Interim CEO effective immediately.

Chris Reed, Founder and Chief Innovation Officer commented, "Reed's has never had a more impressive portfolio of new products waiting to launch in the history of the Company. My transition from CEO to Chief Innovation Officer allows me to focus my full energies to bringing these exciting new products to fruition.  We have developed the first natural soda fountain products and have it in trial at a large national fast casual restaurant chain. These soda fountain versions of our popular natural sodas allow restaurants and other fountain concessions to buy our products for significantly less than the full packaged bottled price and at competitive prices to other fountain products.  This supports our strategy for opening up new markets and strengthening our brand equity. In addition, we have developed a compelling line of full flavor, all natural, low calorie sodas that we believe taste identical or better than their full calorie counterparts. I believe that these new product ideas have such significant potential that we will be reaching out to form strategic partnerships, including with larger beverage companies, to help with their implementation."

Mr. Freeman commented, "I've been in the beverage and consumer industry for more than 25 years and believe that there is significant opportunity for growth in the craft beverage category.  I am honored to be selected amongst my peers on the board to serve as Interim CEO.  John Bello, Chairman of the board of directors, will lead the search for the permanent CEO of Reed's.  Chris did a great job building the brand and developing Reed's portfolio of award winning craft sodas.   We look forward to working with him in his new role as Chief Innovation Officer," Mr. Freeman concluded.

"I would like to thank Chris for his extensive contributions over the years and for pioneering the craft soda revolution and welcome Stefan to his new role as Interim CEO of Reed's.  Stefan's extensive experience in the beverage industry will certainly be utilized and the shareholders are fortunate that he is local and available to lead the business during this transitional period.  When the shareholders elected this board they strengthened the Company with a great team of experienced and capable executives.  We will all be working together to drive growth under the leadership of Stefan while we search for the permanent CEO who will lead this Company through the next stages of growth," commented John Bello, Chairman of Reed's, Inc.

About Stefan Freeman – Interim CEO:
Mr. Freeman is a strategic and performance focused executive with more than 25 years in sales operations, manufacturing and supply chain operations in beverages and consumer products. Mr. Freeman has worked for the three largest soda companies in the world and was promoted within each company. From 2011 through 2014, Mr. Freeman was the Regional Vice President of Manufacturing for Coca-Cola Refreshments, managing eight manufacturing plants located throughout Southern California, Arizona and Hawaii. These plants produced 231 million cases with revenues more than $500 million annually. In 2014 Mr. Freeman was promoted from within Coca- Cola Refreshments to Vice President of Fleet Operations in Atlanta, Georgia where he managed one of the five largest fleet operations in North America through April 2016. Prior to working for Coca-Cola, Mr. Freeman was Director of Supply Chain for Dean Foods' Pacific Coast Group, managing nine production facilities with responsibility for a $155 million annual operating budget. Other prior positions include Director of Sales Operations for Dr. Pepper Snapple Group and Supply Chain Manager and Plant Manager for Pepsi-Cola Bottling Group.  Mr. Freeman holds a Bachelor of Science in mechanical engineering from Tuskegee University and is an active member of the Cisco Systems Global Manufacturing Advisory Board.

 

 

Reed's, Inc. Announces $3.4 Million Financing Transaction

LOS ANGELES, CA...April 24, 2017 - Reed's, Inc. (NYSE MKT:REED), maker of the top selling all natural sodas in natural food and grocery stores nationwide, today announced the closing of a $3.4 million private placement in the form of the sale and issuance of secured convertible subordinated non-redeemable note ("Note") and a warrant to purchase 1,416,667 shares of common stock ("Warrant") to Raptor/Harbor Reeds SPV LLC. In addition to this financing transaction, the Company announced today, in a separate press release, the appointment of Stefan Freeman as Interim Chief Executive Officer and naming of Founder and former Chief Executive Officer Chris Reed to the newly created position of Chief Innovation Officer. 

John Bello, Chairman of the Board of Reed's, Inc., commented, "This financing will kick start Reed's into a new era. Now with the appropriate management adjustments, in-stock inventory availability, more aggressive trade programming and new consumer marketing, Reed's is ready to capitalize on the rising wellness cultural shift in beverage consuming habits.  Reed's is the best line of craft soda on the market.  They are authentic, freshly brewed, all-natural and timely.  The new Reed's team is focused on expanding distribution, driving profitable growth, quenching consumer thirst for better-for-you sodas and delivering enhanced shareholder value," Mr. Bello concluded.

Dan Doherty, Principal of Raptor/Harbor Reeds SPV LLC. stated, "We are confident in the ability of the management and board of directors to execute on the strategic growth plan.  Reed's brands are iconic in the craft soda category and we believe that the Company is well positioned for significant growth."  

The Note bears interest at a rate of 12% per annum, compounded monthly on a 360-day year/ 30-day month basis. The Note is secured by a second priority security interest in the Company's assets, which is subordinate to the first priority security interest of PMC Financial Services Group, LLC. The Note matures on the two-year anniversary of the closing date and may not be prepaid. After 180 days, the Note may be converted, at any time and from time to time, into 1,133,333 shares of common stock of the Company. The Warrant will expire on the 5th anniversary of the closing date and have an exercise price equal to $4.00. The Warrant will not be exercisable until 180 days after the closing date. The Note and Warrant contain customary anti-dilution provisions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

The securities being sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from such registration requirements. Reed's has agreed to file a registration statement with the SEC covering the resale of the shares of common stock underlying the Note and Warrant issued in the private placement.

The proceeds from the private placement will be used for working capital and general corporate purposes.

Wunderlich Securities acted as exclusive placement agents in the transaction.

 

 

Boingo Wireless to Report First Quarter 2017 Financial Results on Thursday, May 4, 2017

LOS ANGELES, CA...April 24, 2017 - Boingo Wireless (NASDAQ:WIFI), the leading DAS and Wi-Fi provider that serves consumers, carriers and advertisers worldwide, today announced that it will report financial results for the first quarter ended March 31, 2017, on Thursday, May 4, 2017, after the close of market.

David Hagan, Boingo Wireless' CEO, and Peter Hovenier, Boingo Wireless' CFO, will host a conference call to discuss the first quarter 2017 results as well as the Company's future outlook for the second quarter and full year of 2017 on Thursday, May 4, 2017, at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. To participate in the conference call, investors from the U.S. and Canada should dial (877) 407-0789 ten minutes prior to the scheduled start time. International callers should dial +1 (201) 689-8562. In addition, the call will be broadcast live over the Internet hosted on the Investor Relations section of the Company's website at http://investors.boingo.com and will be archived online upon completion of the conference call.

For those unable to participate during the live broadcast, a replay of the call will also be available beginning that same day at 7:30 p.m. Eastern Time / 4:30 p.m. Pacific Time until 11:59 p.m. Eastern Time / 8:59 p.m. Pacific Time on Thursday, May 18, 2017, by dialing (844) 512-2921 in the U.S. and Canada and +1 (412) 317-6671 internationally and entering the passcode: 13658019.

About Boingo Wireless 

Boingo Wireless, Inc. (NASDAQ:WIFI) helps the world stay connected. Our vast footprint of small cell networks covers more than a million DAS and Wi-Fi locations and reaches more than 1 billion consumers annually – in places as varied as airports, stadiums, universities, and military bases. For more information about the Boingo story, visit www.boingo.com

 

 

B. Riley Asset Management Acquires Rights to Manage Dialectic Hedge Funds

LOS ANGELES, CA...April 24, 2017 - B. Riley Financial, Inc. (NASDAQ:RILY) ("B. Riley") announced today that Dialectic Capital, LLC ("Dialectic Capital") and Dialectic Capital Management, LP ("Dialectic Capital Management" and together with Dialectic Capital, "Dialectic") has assigned the rights to manage certain hedge funds managed by Dialectic (the "Dialectic Funds") to a subsidiary of B. Riley Capital Management, LLC.  John Fichthorn, a managing member of Dialectic Capital and general partner of Dialectic Capital Management, has been named as the Head of Alternative Investments for B. Riley Asset Management, a division of B. Riley Capital Management, LLC. 

Founded in 2003 by John Fichthorn, Dialectic Capital Management currently manages several fund strategies and invests in equities across all sectors and market capitalizations. Prior to founding Dialectic, John Fichthorn was a managing director at Maverick Capital.

"Under John's stewardship, Dialectic has established an impressive track record and reputation in the hedge fund industry. This acquisition is consistent with our strategy of expanding our capital management business, which now has nearly $1 Billion in assets under management", commented Bryant Riley, the Chairman and Chief Executive Officer of B. Riley Financial. "We look forward to leveraging John's experiences to scale our asset management business even further."

John Fichthorn noted, "We have worked closely with the B. Riley team for many years. Bryant and his team have been trusted advisors to us across all of our investing strategies from shareholder activism to all styles of public equity investing. B. Riley is a firm that leads with client interests. As Bryant has seen compelling opportunities outside of traditional Investment banking and brokerage he has added them to his corporate portfolio. We are very excited to be a part of this portfolio and see compelling opportunities across many of the divisions within B. Riley to help improve our returns and increase assets."

The Dialectic Funds currently own shares of common stock of B. Riley Financial, Inc.  The Dialectic Fund investors have appointed a portfolio manager for the trading and voting of the B. Riley shares.  In accordance with new policies adopted by the Company, this portfolio manager does not have access to material non-public information regarding B. Riley, and is responsible for determining if and when the B. Riley shares held by the Dialectic Funds should be voted or traded.

 

 

Collectors Universe Declares Quarterly Cash Dividend of $0.35 per Common Share

NEWPORT BEACH, CA...April 24, 2017 - Collectors Universe, Inc. (NASDAQ:CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, today announced that, pursuant to its previously adopted dividend policy, the Board of Directors has declared the Company's quarterly cash dividend of $0.35 per share of common stock for the fourth quarter of fiscal 2017.  The cash dividend will be paid on May 26, 2017 to stockholders of record on May 17, 2017.

About Collectors Universe

Collectors Universe, Inc. is a leading provider of value-added services to the high-value collectibles markets.  The Company authenticates and grades collectible coins, trading cards, event tickets, autographs and memorabilia ("collectibles").  The Company also compiles and publishes authoritative information about United States and world coins, collectible trading cards and sports memorabilia and operates its CCE dealer-to-dealer Internet bid-ask market for certified coins and its Expos trade show and conventions business.  This information is accessible to collectors and dealers at the Company's website, http://www.collectorsuniverse.com and is also published in print.

 

 

Capstone Launches the New C200 Signature Series Microturbine

CHATSWORTH, CA...April 24, 2017 - Capstone Turbine Corporation (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today officially launched the Capstone C200S microturbine, as part of the company's new Signature Series line of microturbine energy systems.

The 200-kilowatt C200S microturbine incorporates numerous system and design upgrades intended to improve overall product quality, reliability, and performance. The new product enhances the microturbine ownership experience, especially for combined heat and power (CHP) and combined cooling, heat and power (CCHP) applications.

A few of the new key upgrades include:

"We remain focused on diversifying our business by increasing our revenue from the CHP and CCHP energy efficiency markets with a short-term goal of 40% energy efficiency, 40% oil and gas and 20% renewables and other market verticals," said Darren Jamison, Capstone's President and Chief Executive Officer. "The new C200 Signature Series product further supports this strategic effort, and the new roof mounted integrated CHP heat recovery modules designed specifically for our Signature Series product will add additional revenue growth as it did in the most recent quarter when the company added approximately $0.5 million of new Signature Series accessory revenue," added Mr. Jamison.

"The global success of Capstone's Signature Series microturbines has helped to propel the company into a new age of power generation technology," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "Our customers are now experiencing a new level of quality, reliability, and performance with our new complete line of Signature Series products," added Mr. Crouse.

About Capstone Turbine Corporation

Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) is the world's leading producer of low-emission microturbine systems and was the first to market commercially viable microturbine energy products. Capstone has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2015 and ISO 14001:2015 certified company; Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

 

 

aTyr Pharma Announces Promising Top-Line Results from Resolaris™ Phase 1b/2 Clinical Trial in Patients with Early Onset Facioscapulohumeral Muscular Dystrophy

SAN DIEGO, CA...April 24, 2017 - aTyr Pharma, Inc. (Nasdaq:LIFE), a biotherapeutics company engaged in the discovery and development of Physiocrine-based therapeutics to address severe, rare diseases, today announced promising clinical results from its Phase 1b/2 003 trial assessing the safety and potential activity of Resolaris™ in patients with early onset facioscapulohumeral muscular dystrophy (FSHD).

aTyr's exploratory trials in rare muscular dystrophies were designed to assess:

The 003 trial was an international, multi-center, open-label, intra-patient, placebo run-in, dose escalation Phase 1b/2 study designed to evaluate the safety, tolerability, immunogenicity and exploratory clinical assessments of Resolaris at weekly doses of 0.3, 1.0 and 3.0 mg/kg in patients with early onset FSHD for a total of 12 weeks. Eight patients, ages 16 to 20, participated in the study.

Potential Signals of Clinical Activity

Safety and Tolerability

Resolaris was generally well-tolerated at doses up to 3.0 mg/kg once weekly in early onset FSHD. There have been no observed signs of general immunosuppression and low-level anti-drug antibody signals did not result in clinical symptoms. Adverse events were mild or moderate in intensity. There were no clinically significant changes in other safety assessments. aTyr believes the observed safety results of Resolaris to date are supportive of further advancement of Resolaris.

"We would like to congratulate our patients, collaborators and team who helped us accomplish the fundamental objectives for this clinical trial," said John Mendlein, PhD, CEO of aTyr Pharma.

"We are developing Resolaris, derived from a naturally occurring protein that we believe acts on a newly discovered immunological pathway to potentially treat patients with rare muscular dystrophies characterized by immune cell imbalance," said Sanjay Shukla, MD, MS, Chief Medical Officer of aTyr Pharma. "These results are important as they reinforce previous clinical results (in adult FSHD and adult LGMD2B) with Resolaris in a younger patient population, with a potentially more aggressive progression of disease. We look forward to the advancement of Resolaris in the clinic in rare muscular dystrophies upon the identification of a pharmacodynamic assay and the successful execution of our pipeline partnering efforts."

About Resolaris™

aTyr Pharma is developing Resolaris as a potential first-in-class intravenous protein therapeutic candidate for the treatment of rare myopathies with an immune component. Resolaris is derived from a naturally occurring protein released by human skeletal muscle cells. aTyr believes Resolaris has the potential to provide therapeutic benefit to patients with rare myopathies with an immune component characterized by excessive immune cell involvement.

About Early Onset FSHD

While FSHD can manifest at any age, the onset of symptoms in many patients occurs before the age of 18. We refer to this patient population as early onset FSHD. aTyr has selected those patients with onset of symptoms before the age of ten for its current clinical trial. Within the early onset population are individuals with symptom onset at less than five years of age, with progression in disease prior to age ten. These individuals have generally the most severe muscle symptoms as well as extra-muscular manifestations including auditory deficits and retinal complications that may result in vision loss. This sub-group of early onset patients are often referred to as having "infantile onset" FSHD. Estimates of prevalence vary; however, aTyr believes the "infantile onset" FSHD population is approximately 1,000 in the U.S.

About aTyr Pharma 

aTyr Pharma is engaged in the discovery and clinical development of innovative medicines for patients suffering from severe, rare diseases using its knowledge of Physiocrine biology, a newly discovered set of physiological pathways. To date, the company has generated three innovative therapeutic candidate programs based on its knowledge of Physiocrine biology in three different therapeutic areas. aTyr has built an intellectual property estate, to protect its pipeline, comprising over 175 issued patents or allowed patent applications that are owned or exclusively licensed, including over 300 potential Physiocrine-based protein compositions. aTyr's key programs are currently focused on severe, rare diseases characterized by immune imbalance for which there are currently limited or no treatment options. For more information, please visit http://www.atyrpharma.com.

 

 

aTyr Pharma Presents Analyses of Resolaris Phase 1b/2 Trial in Patients with Limb Girdle Muscular Dystrophy 2B and Facioscapulohumeral Muscular Dystrophy at the American Academy of Neurology 69th Annual Meeting

SAN DIEGO, CA...April 24, 2017 - aTyr Pharma, Inc. (Nasdaq:LIFE), a biotherapeutics company engaged in the discovery and development of Physiocrine-based therapeutics to address severe, rare diseases, today announced its participation as part of the Emerging Science Platform Session at the upcoming American Academy of Neurology (AAN) 69th Annual Meeting to be held April 22 – 28, 2017 in Boston, MA.

Details of the session are below:

Emerging Science Platform Session: Tuesday, April 25, 2017 from 5:45 p.m. – 7:15 p.m. (ET)

The poster presentation provides further detail on the previously announced results from the completed Phase 1b/2 open-label, intra-patient dose escalation 004 trial testing doses of Resolaris (ATYR1940) of up to 3.0 mg/kg biweekly in patients with LGMD2B and FSHD. Data from all clinical trials completed to date demonstrate that Resolaris has a favorable safety profile and was generally well-tolerated across all doses tested. There have been no observed signs of general immunosuppression and low-level anti-drug antibody signals did not result in clinical symptoms. 78% of the LGMD2B patients in the trial recorded increases in muscle function at 14 weeks as measured by manual muscle test (MMT) score, a validated assessment tool. 50% of the FSHD patients in the trial recorded increases in muscle function as measured by MMT score.

aTyr believes these data are supportive of further advancement of Resolaris.

About Resolaris™

aTyr Pharma is developing Resolaris as a potential first-in-class intravenous protein therapeutic candidate for the treatment of rare myopathies with an immune component. Resolaris is derived from a naturally occurring protein released by human skeletal muscle cells. aTyr believes Resolaris has the potential to provide therapeutic benefit to patients with rare myopathies with an immune component characterized by excessive immune cell involvement.

 

 

Advantest VOICE 2017 Conference to Feature More Than 100 Technical Papers and Kicks Off Second Decade with Three Compelling Keynotes

SAN JOSE, CA...April 24, 2017 - VOICE, the annual developer conference hosted by leading semiconductor test equipment supplier Advantest Corporation (TSE:6857), kicks off its second decade with 113 technical presentations, an expanded Technology Kiosk Showcase, and a new technology track. Additionally, VOICE 2017 will include three diverse keynote speakers, a Partners' Expo, and interactive discussion sessions for users of the V93000 and T2000 SoC test platforms as well as Advantest test cell solutions. This year's conference will again be held in both the United States and Asia with events at the Hyatt Regency Indian Wells Resort & Spa in Palm Springs, California, on May 16-17 and at the Intercontinental Shanghai Pudong in Shanghai, China on May 26. 

The VOICE 2017 technical program will feature Advantest customers, partners and employees from 12 countries and 22 different companies presenting their insights and best practices. Technical topics will cover device specific testing, hardware design and integration, improving throughput, reducing time-to-market, new hardware/software test solutions, test methodologies, product engineering, hot topics in the ATE industry, and -- for the first time – SmarTEST 8.0 for the V93000 platform. At both events, additional topics will be spotlighted in technical kiosks staffed by Advantest R&D, industry experts and technologists. This year, the kiosks will expand in China to reach record numbers. 

In addition to the rich technical content, VOICE 2017 includes diverse keynote speeches each morning. The Palm Springs event will kick off with a talk by Advantest's own Hans-Juergen Wagner, senior vice president of the SoC product group. His presentation, "The Future Trends for and Contributions of Test in the SoC Market" will detail the drivers, challenges and emerging trends of SoC device designs and the impact they have on test. The second day's keynote speaker will be Chris Tarbell, one of the all-time most successful cyber security law enforcement officials. His presentation contains sensitive information that can only be heard in person. In Shanghai, Dr. Peter Chen, senior director of China business development at TSMC China Company Limited, will share his insights into the global semiconductor industry landscape, technology trends, and especially the ecosystem and market in China.   

Opportunities for face-to-face interaction will be available at various networking activities, including a not-to-miss evening event in the Enchanted Desert near the San Andreas Fault Line in Palm Springs. In addition, a Partners' Expo will be held in both Palm Springs and China for sponsors to showcase their advanced solutions related to semiconductor testing.

"As VOICE enters its second decade this year, we have more technology tracks, kiosks and sponsors than ever before, as well as record abstract submissions, resulting in a compelling customer-focused technical program," said Judy Davies, ambassador for the VOICE 2017 Developer Conference and vice president of Global Marketing Communications at Advantest. "You will also notice some surprise special guests who reflect the teamwork and innovative vision that make the VOICE conference so successful.  Thank you to our VOICE sponsors, industry supporters and board members for making 2017 another record year! We look forward to seeing our users and partners in Palm Springs, China, or both locations."

About VOICE 2017 Developer Conference
Managed by a steering committee of volunteer representatives from Advantest and its customers, VOICE is the leading conference for the growing international community of users and strategic partners involved with Advantest's V93000 and T2000 SoC test platforms as well as Advantest memory testers, handlers and test cell solutions.  The conference offers a unique opportunity to take part in making semiconductor testing operations as efficient and cost-effective as possible.  Attendees gain and share valuable insights, build long-lasting relationships and learn what's new about Advantest test equipment, handlers and applications.

About Advantest Corporation
A world-class technology company, Advantest is the leading producer of automatic test equipment (ATE) for the semiconductor industry and a premier manufacturer of measuring instruments used in the design and production of electronic instruments and systems.  Its leading-edge systems and products are integrated into the most advanced semiconductor production lines in the world.  The company also focuses on R&D for emerging markets that benefit from advancements in nanotech and terahertz technologies, and has introduced multi-vision metrology scanning electron microscopes essential to photomask manufacturing, as well as a groundbreaking 3D imaging and analysis tools.  Founded in Tokyo in 1954, Advantest established its first subsidiary in 1982, in the USA, and now has subsidiaries worldwide.  More information is available at www.advantest.com.

 

 

Vical to Host Virtual Research & Development Day on May 2, 2017

SAN DIEGO, CA...April 24, 2017 - Vical Incorporated (Nasdaq:VICL) today announced that it will host a virtual Research & Development Day for analysts, investors and media on Tuesday, May 2, 2017, beginning at 9:00 a.m. PT. This event will be available via webcast and conference call.

The event will provide a comprehensive overview of Vical's product pipeline with an emphasis on the HSV-2 and invasive aspergillosis programs, including presentations by members of the Vical leadership team and two leading experts:

Listeners may access the accompanying slide presentation through the webcast at www.vical.com. The call and webcast are open on a listen-only basis to any interested parties. To listen to the conference call, dial in approximately ten minutes before the scheduled call to (719) 325-2239 (preferred), or (888) 455-2308 (toll-free), and reference confirmation code 9084195. A replay of the call will be available for 48 hours beginning about two hours after the call. To listen to the replay, dial (719) 457-0820 (preferred) or (888) 203-1112 (toll-free) and enter replay passcode 9084195. The call also will be available live and archived through the events page at www.vical.com. For further information, contact Vical's Investor Relations department by phone at (858) 646-1127 or by e-mail at ir@vical.com.

About Vical
Vical develops biopharmaceutical products for the prevention and treatment of chronic or life-threatening infectious diseases, based on its patented DNA delivery technologies and other therapeutic approaches. Additional information on Vical is available at www.vical.com.

 

 

Natural Health Trends to Report First Quarter 2017 Financial Results on April 27th

LOS ANGELES, CA...April 24, 2017 - Natural Health Trends Corp. (NASDAQ:NHTC), a leading direct-selling and e-commerce company that markets premium quality personal care, wellness, and "quality of life" products under the NHT Global brand, today announced the Company will report its financial results for the quarter ended March 31, 2017 on Thursday, April 27, 2017 at 9:00 a.m. Eastern Time. Chris Sharng, Natural Health Trends' President, and Scott Davidson, Senior Vice President and Chief Financial Officer, will host a conference call to discuss the first quarter 2017 financial results on Thursday, April 27, 2017 at 11:30 a.m. Eastern Time. The details for the conference call can be found below.

First Quarter 2017 Financial Results Conference Call

Date:   Thursday, April 27, 2017
Time:   11:30 a.m. Eastern Time / 8:30 a.m. Pacific Time
Dial-in:   1-877-407-0789 (Domestic)
  1-201-689-8562 (International)
Conference ID:   13657892
Webcast:   http://public.viavid.com/index.php?id=123414
Replay:   For those unable to participate during the live broadcast, a replay of the call
  will also be available from 2:30 p.m. Eastern Time on April 27, 2017 through
  11:59 p.m. Eastern Time on May 11, 2017 by dialing 1-844-512-2921 
  (domestic) and 1-412-317-6671 (international) and referencing the replay pin 
  number: 13657892.

About Natural Health Trends Corp.
Natural Health Trends Corp. (NASDAQ:NHTC) is an international direct-selling and e-commerce company operating through its subsidiaries throughout Asia, North America, and Europe.  The Company markets premium quality personal care products under the NHT Global brand.  Additional information can be found on the company's website at www.naturalhealthtrendscorp.com.