Month: April 2020

NEW YORK, April 23, 2020 (GLOBE NEWSWIRE) — Avenue Therapeutics, Inc. (NASDAQ: ATXI) (“Avenue”), a company focused on the development of intravenous (“IV”) tramadol for the U.S. market, today announced that two e-posters highlighting efficacy and safety results from its Phase 3 program are available for online viewing from the cancelled Annual Regional Anesthesiology and Acute Pain Medicine Meeting hosted by the American Society of Regional Anesthesia and Pain Medicine (“ASRA”). The meeting was originally scheduled to take place April 23-25, 2020 in San Francisco, CA and was cancelled due to COVID-19 concerns.The e-poster (816) titled “Intravenous Tramadol is Effective in Management of Postoperative Pain Following Abdominoplasty: A 3-arm Randomized Controlled Trial” presents data from the Phase 3 abdominoplasty study and can be...

LIMERICK, Pa., April 23, 2020 (GLOBE NEWSWIRE) — The Victory Bancorp, Inc. (OTCQX: VTYB) announced unaudited results for the quarter ended March 31, 2020. Highlights include asset growth of $29.6 million and a $2.0 million increase in stockholders’ equity at March 31, 2020, as compared to March 31, 2019. Net income decreased $325 thousand to $179 thousand for the quarter ended March 31, 2020 as compared to the quarter ended March 31, 2019, totaling approximately $0.09 per common share. Cash dividends increased from 2.5 cents per share per quarter to 5.0 cents per share per quarter in the first quarter of 2020. Book value per share increased to $10.30.Consolidated net income for the quarter ended March 31, 2020, was $179 thousand, a decrease of $325 thousand, compared to $504 thousand for the same quarter in 2019. Deposits grew to...

Added Capital Strengthens Balance Sheet, Assures Cash Through Major Phase III OPTIMA Study Data Readout EventsSale of an Additional $2.0 Million of NOL’s Expected in the 4th Quarter of 2020LAWRENCEVILLE, N.J., April 23, 2020 (GLOBE NEWSWIRE) — Celsion Corporation (NASDAQ: CLSN), an oncology drug development company, today announced it has received $1.82 million of net cash proceeds from the sale of approximately $1.9 million of its unused New Jersey net operating losses (NOLs) and $632,220 in funding under the Paycheck Protection Program (PPP), the federal government’s main initiative to help small businesses disrupted by the COVID-19 pandemic. The NOL sales cover the tax years 2017 and 2018 and are administered through the New Jersey Economic Development Authority’s (NJEDA) Technology Business Tax Certificate Transfer (NOL)...

SOMERSET, N.J., April 23, 2020 (GLOBE NEWSWIRE) — MTBC, Inc. (Nasdaq: MTBC) (Nasdaq: MTBCP) (“MTBC” or the “Company”), a leading provider of cloud-based healthcare IT solutions and services, today announced that it has upsized and priced its previously announced underwritten public offering of non-convertible 11% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”), which trades on the Nasdaq Global Market with ticker “MTBCP”. The Company has agreed to sell 720,000 shares of Series A Preferred Stock, at a public offering price of $25.00 per share, for gross proceeds to the Company of $18.0 million. The Company also granted the underwriters a 30-day option to purchase up to an additional 108,000 shares at the public offering price, less underwriting discounts and commissions. The offering...

NEW YORK, April 23, 2020 (GLOBE NEWSWIRE) — Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX), an oncology company developing innovative medicines and artificial intelligence to find, fight and follow cancer, today announced that it will host a conference call and webcast to review first quarter ended March 31, 2020 financial results on Thursday, May 7, 2020, at 8:30 a.m. ET.To participate, please dial (877) 250-8889 (domestic) or (720) 545-0001 (international) and reference conference ID 7359368. A live webcast will be available in the Media Center of the Progenics website, www.progenics.com, and a replay will be available there for two weeks.About PROGENICSProgenics is an oncology company focused on the development and commercialization of innovative targeted medicines and artificial intelligence to find, fight and follow cancer,...

WEST DES MOINES, Iowa, April 23, 2020 (GLOBE NEWSWIRE) — West Bancorporation, Inc. (Nasdaq: WTBA; the “Company”), parent company of West Bank, today reported that first quarter 2020 net income was $8.1 million, or $0.49 per diluted common share, compared to first quarter 2019 net income of $6.9 million, or $0.42 per diluted common share.  On April 22, 2020, the Company’s Board of Directors declared a regular quarterly dividend of $0.21 per common share, the same amount as in the previous four quarters.  The dividend is payable on May 20, 2020, to stockholders of record on May 6, 2020.“The uncertainty of the COVID-19 pandemic presents unprecedented challenges for our customers, employees, shareholders and communities,” commented Dave Nelson, President and Chief Executive Officer of the Company.  “The economic impact of the pandemic...

– Grant Will Support an On-going Clinical Evaluation of Lead Investigational Drug PTI-125 in Alzheimer’s Disease –AUSTIN, Texas, April 23, 2020 (GLOBE NEWSWIRE) — Cassava Sciences, Inc. (Nasdaq: SAVA), a clinical-stage biotechnology company focused on Alzheimer’s disease, today announced that it has been awarded a new $2.5 million research grant award from the National Institutes of Health (NIH). This new research grant will support the on-going clinical evaluation of PTI-125, the Company’s lead investigational drug. PTI-125 has a unique mechanism of action that seeks to improve both neurodegeneration and neuroinflammation in patients with Alzheimer’s disease.The NIH’s National Institute on Aging (NIA) awarded Cassava Sciences this research grant award following an in-depth, peer review of PTI-125. Peer review,...

BERKELEY HEIGHTS, N.J., April 23, 2020 (GLOBE NEWSWIRE) — CorMedix Inc. (NYSE American: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory disease, today announced that it has entered into a new three-year Employment Agreement with Jack Armstrong, currently Executive Vice President and Head of Technical Operations. The new agreement terminates in April 2023, and may be extended annually thereafter upon mutual agreement. The Employment Agreement was concluded as CorMedix works to secure marketing authorization for Neutrolin® in the second half of 2020 with potential commercial launch in the U.S. in 2021.“I am delighted that Jack has agreed to continue in his current role at this critical time when we are ramping up our preparations...

HONESDALE, Pa., April 23, 2020 (GLOBE NEWSWIRE) — Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp. (Nasdaq Global Market – NWFL) and its subsidiary, Wayne Bank, announced earnings of $3,079,000 for the three months ended March 31, 2020, decreasing from the $3,190,000 recorded during the same three-month period of last year.  The decrease was due to an increased provision for loan losses related to the current period of economic uncertainty.  Earnings per share on a fully diluted basis were $0.49 in the first quarter of this year compared to $0.51 in the first quarter of 2019.  The annualized return on average assets was 1.01% in the first quarter of 2020 and the annualized return on average equity was 8.79%, compared to 1.09% and 10.37%, respectively, in the first quarter of 2019.Total assets were...

MONTERREY, Mexico, April 23, 2020 (GLOBE NEWSWIRE) — Arca Continental, S.A.B. de C.V. (BMV: AC*) (“Arca Continental” or “AC”), the second-largest Coca-Cola bottler in Latin America, announced its results for the first quarter of 2020 (“1Q20”).Table 1: Financial Highlights1Q20 HIGHLIGHTSNet Sales increased 5.3% when compared to 1Q19 to Ps. 38,893 million.EBITDA totaled Ps. 6,637 million, 5.8% higher than 1Q19 and for a margin of 17.1%.Net Income grew 57.4% to Ps. 2,678 million for a margin of 6.9%.COMMENTS FROM THE CHIEF EXECUTIVE OFFICER“In the face of the historic public health crisis we are experiencing throughout the world, at Arca Continental we have focused, with the utmost priority, on carrying out strict safety and hygiene measures to provide a safe workplace for our collaborators. In parallel, we have also established community...