Vice President Kamala Harris marks Black Maternal Health Week with a discussion on issues that make Black women two to three times more likely to die due to childbirth. Harris also spoke on the death of Daunte Wright. (April 13)
Vice President Kamala Harris marks Black Maternal Health Week with a discussion on issues that make Black women two to three times more likely to die due to childbirth. Harris also spoke on the death of Daunte Wright. (April 13)
Mooer Audio is readying a six-string guitar with a drum machine, 126 effects and a looper — you may not need much else to create music.
One goal, two goal, three goal, four. What them all score.
The all-British boxing showdown between Tyson Fury and Anthony Joshua will take place in Saudi Arabia on August 14. Joshua and Fury will contest all four world heavyweight titles for the first time in the sport’s history, with Fury confirming the date via social media on Sunday. Plans for a fight between the pair were set in motion when Fury defeated Deontay Wilder to capture the WBC title in February last year, just a couple of months after Joshua avenged his only career loss to Andy Ruiz Jr.
Labour leader says there ‘must be consequences’ after video appears to show racist abuse shouted on capital’s streets
Among 42 people killed overnight and into Sunday were two senior doctors
Opening of skyscraper will bring thrills for city’s tourists
Liverpool have blown the Premier League top-four race wide open once again. Alisson Becker kept Liverpool's Champions League qualification hopes alive as the top four race took a dramatic twist on Sunday. The champions boosted their chances earlier this week with a thrilling 4-2 win at Manchester United after Chelsea's shock home loss to Arsenal had blown the race wide open.It looked at though Jurgen Klopp's Reds were set for a 1-1 draw at West Brom on Sunday, but goalkeeper Alisson headed home a winner to put pressure on Leicester and Chelsea ahead of their meeting at Stamford Bridge on Tuesday.
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Rolling NDA submission for CUTX-101 for the treatment of Menkes disease is expected to begin in the second half of 2021 On track to report top-line results from the registration-enabling study of cosibelimab in metastatic cutaneous squamous cell carcinoma by year-end 2021 Ended first quarter 2021 with $291.5 million in consolidated cash, cash equivalents and restricted cash NEW YORK, May 16, 2021 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (NASDAQ: FBIO) (“Fortress”), an innovative biopharmaceutical company focused on acquiring, developing and commercializing or monetizing promising biopharmaceutical products and product candidates cost-effectively, today announced financial results and recent corporate highlights for the first quarter ended March 31, 2021. Lindsay A. Rosenwald, M.D., Fortress’ Chairman, President and Chief Executive Officer, said, “Fortress and our partner companies had an exciting start to the year, including the addition and commercial launch of two dermatology products, bringing our total number of marketed products to seven. Moreover, we continued to achieve significant milestones in the advancement of multiple key development programs. Notably, in February, our partner company, Cyprium Therapeutics (“Cyprium”), and Sentynl Therapeutics (“Sentynl”), a wholly owned subsidiary of the Zydus Group, signed a Development and Asset Purchase Agreement for CUTX-101 for the treatment of Menkes disease. This agreement, which included an $8 million upfront payment for the ongoing development of CUTX-101, in addition to regulatory and sales milestone payments plus royalties, allows us to potentially maximize the value of this important asset as Cyprium continues to advance CUTX-101 toward a rolling submission of a New Drug Application (“NDA”) later this year.” Dr. Rosenwald continued, “Our portfolio continues to grow with more than 25 product candidates across our partner companies, including 17 clinical programs, of which four are pivotal programs. We expect to have a multitude of regulatory and clinical inflection points throughout the remainder of 2021, including the availability of clinical data from cosibelimab, CAEL-101 and MB-106. Importantly, our diversified business model is supported by a strong balance sheet, as we ended the first quarter with $291.5 million in consolidated cash, cash equivalents and restricted cash. Our operational catalysts and financial strength have us well-positioned for success and we remain focused on creating long-term shareholder value.” Recent Corporate Highlights1: Marketed Dermatology Products Our seven dermatology products are marketed by our partner company, Journey Medical Corporation (“Journey”).Our products generated net revenues of $10.7 million for the first quarter of 2021, compared to first quarter 2020 net revenues of $11.9 million. While product demand increased in the first quarter of 2021 compared to the first quarter of 2020, the decrease in net revenue in the first quarter of 2021 is primarily attributable to increased coupon expense costs related to standard insurance deductible resets. We expect year-over-year annual revenue growth in 2021 to exceed the 28% growth Journey achieved in 2020.In April 2021, Journey acquired and recently launched its seventh prescription dermatology product, QBREXZA®.On April 1, 2021, Journey entered into an agreement with East West Bank (“EWB”) in which EWB will provide a $7.5 million working capital line of credit.On March 31, 2021, Journey completed its first close in connection with its Cumulative Convertible Class A Preferred Stock Offering. In connection with the first close, Journey issued an aggregate of 501,480 Journey Preferred A shares at a price of $25.00 per share, and after deducting commissions, fees, and expenses, for a total of $11.2 million in net proceeds.We plan on launching one additional prescription product in the second half of this year. CUTX-101 (Copper Histidinate for Menkes disease) In February 2021, our partner company, Cyprium, and Sentynl signed a Development and Asset Purchase Agreement for CUTX-101 for the treatment of Menkes disease. Under the terms of the agreement, Cyprium received $8 million upfront to fund the development of CUTX-101 and could receive up to $12 million in regulatory milestone payments through NDA approval, and is eligible to receive sales milestones plus royalties. Royalties start from mid-single digits, scaling up to 25% on sales exceeding $100 million annually. Cyprium will retain 100% ownership over any FDA priority review voucher that may be issued at NDA approval for CUTX-101. Cyprium is responsible for the development of CUTX-101 through approval of the NDA by the FDA, and Sentynl will be responsible for commercialization of CUTX-101, as well as progressing newborn screening activities.We intend to begin the rolling submission of the NDA for CUTX-101 to the FDA in the second half of 2021.CUTX-101 is currently in development at our partner company, Cyprium Therapeutics, Inc. CAEL-101 (Light Chain Fibril-reactive Monoclonal Antibody for AL Amyloidosis) Caelum Biosciences, Inc. (“Caelum”) has two on-going Phase 3 studies of CAEL-101 for AL amyloidosis.Caelum formed a collaboration with Alexion Pharmaceuticals, Inc. in 2019, which includes an option to acquire Caelum. AstraZeneca announced the execution of a definitive agreement to purchase Alexion Pharmaceuticals, Inc. In the event of the closing of such transaction, the timeline for a potential exercise of the option to purchase Caelum will be accelerated to six months following the date of acquisition closing.In May 2021, we announced that CAEL-101 clinical data were selected for two presentations at the European Hematology Association 2021 Virtual Congress (“EHA2021”) taking place in June. The abstracts can be viewed online through the EHA2021 website: here and here.CAEL-101 is currently in development at Caelum Biosciences, Inc., a company founded by Fortress in 2017 and in which Fortress maintains a minority position. Cosibelimab (formerly CK-301, an anti-PD-L1 antibody) The registration-enabling study in metastatic cutaneous squamous cell carcinoma is fully enrolled and we are on track to report top-line results by year-end. With a potentially favorable safety profile versus anti-PD-1 therapy and a plan to commercialize at a substantially lower price, we believe cosibelimab has the potential to be a market disruptive product in the $25 billion and growing PD-(L)1 class.A Phase 3 registration-enabling trial is planned to begin in first-line metastatic non-small cell lung cancer in mid-2021.Cosibelimab is currently in development at our partner company, Checkpoint Therapeutics, Inc. (“Checkpoint”). MB-107 and MB-207 (Lentiviral Gene Therapies for X-linked Severe Combined Immunodeficiency) In February 2021, we announced encouraging MB-107 and MB-207 clinical updates from our investigator-IND X-linked severe combined immunodeficiency (“XSCID”) trials, as well as additional consistent safety and efficacy data. On January 28, 2021, the FDA removed a CMC hold on the MB-107 Phase 2 clinical trial Investigational New Drug (“IND”) application after reviewing a comprehensive CMC package that was submitted in late December 2020. We expect to enroll the first patient in this pivotal multicenter trial in the second quarter of 2021 and we are targeting top-line data from the trial in the second half of 2022. We also expect to file an IND in the second quarter of 2021 for our pivotal multicenter Phase 2 clinical trial of MB-207.MB-107 and MB-207 are currently in development at our partner company, Mustang Bio, Inc. (“Mustang Bio”). MB-106 (CD20-targeted CAR T Cell Therapy) In May 2021, we announced that the FDA approved Mustang Bio’s IND application to initiate a multicenter Phase 1/2 clinical trial investigating the safety and efficacy of MB-106, a CD20-targeted CAR T for relapsed or refractory B-cell non-Hodgkin lymphomas (“B-NHL”) and chronic lymphocytic leukemia (“CLL”).Also in May 2021, we announced that CD20-targeted CAR T data were selected for presentation at EHA2021 scheduled to take place in June. Dr. Mazyar Shadman of Fred Hutchinson Cancer Research Center will present updated interim data from the ongoing Phase 1/2 clinical trial for B-NHL and CLL. A copy of the abstract can be viewed online through the EHA2021 website here.MB-106 is currently in development at our partner company, Mustang Bio. Dotinurad (Urate Transporter (URAT1) Inhibitor) In May 2021, we announced an exclusive license agreement with Fuji Yakuhin Co. Ltd. to develop Dotinurad in North America and Europe. Dotinurad is a potential best-in-class urate transporter (URAT1) inhibitor for gout and possibly other hyperuricemic indications including chronic kidney disease and heart failure. Dotinurad (URECE® tablet) was approved in Japan in 2020 as a once-daily oral therapy for gout and hyperuricemia. Dotinurad was efficacious and well-tolerated in more than 500 Japanese patients treated for up to 58 weeks in Phase 3 clinical trials.Dotinurad is currently in development at our partner company, FBIO Acquisition Corp. VIII. IV Tramadol In October 2020, Avenue Therapeutics (“Avenue”) announced that it had received a Complete Response Letter (“CRL”) from the FDA regarding Avenue’s NDA for IV tramadol. The FDA held a Type A meeting with Avenue in November 2020 to discuss the issues outlined in the CRL. On February 12, 2021, Avenue resubmitted its NDA to the FDA for IV tramadol. The NDA resubmission followed the receipt of the official minutes from Avenue’s Type A meeting with the FDA. The NDA resubmission included revised language relating to the proposed product label and a report relating to terminal sterilization validation. On February 26, 2021, Avenue received an acknowledgment letter from the FDA stating that Avenue’s resubmission of its NDA is a complete, class 1 response to the CRL, and a Prescription Drug User Free Act (“PDUFA”) goal date was set for April 12, 2021. On April 13, 2021, Avenue announced that the FDA was still reviewing its NDA for IV tramadol and had not provided a decision regarding the NDA. As of May 1, 2021, Avenue had not received approval from the FDA for IV tramadol. Accordingly, under the Stock Purchase and Merger Agreement (“SPMA”), InvaGen retains an option to consummate the second stage closing until October 31, 2021 (after which Avenue can choose to terminate the SPMA), and also retains the option to terminate the SPMA.IV tramadol is currently in development at our partner company, Avenue. General Corporate In February 2021, Fortress partner company, Aevitas Therapeutics, appointed Markus Peters, Ph.D., M.Sc., as Chief Executive Officer. Financial Results: To assist our stockholders in understanding our company, we have prepared non-GAAP financial results for the three months ended March 31, 2021 and 2020. These results exclude the operations of our three public partner companies: Avenue, Checkpoint, and Mustang Bio. The goal in providing these non-GAAP financial metrics is to highlight the financial results of Fortress’ core operations, which are comprised of our commercial-stage business, our privately held development-stage entities, as well as our business development and finance functions. As of March 31, 2021, Fortress’ consolidated cash, cash equivalents and restricted cash totaled $291.5 million, compared to $235.0 million as of December 31, 2020, an increase of $56.5 million during the quarter.On a GAAP basis, Fortress’ net revenue totaled $11.6 million for the first quarter of 2021, which included $10.7 million in net revenue generated from our marketed dermatology products. This compares to net revenue totaling $12.9 million for the first quarter of 2020, which included $11.9 million in net revenue generated from our marketed dermatology products.On a GAAP basis, consolidated research and development expenses including license acquisitions were $20.2 million for the first quarter of 2021, compared to $15.1 million for the first quarter of 2020. On a non-GAAP basis, research and development expenses including license acquisitions were $4.1 million for the first quarter of 2021, compared to $2.3 million for first quarter of 2020.On a GAAP basis, consolidated selling, general and administrative expenses were $17.5 million for the first quarter of 2021, compared to $15.5 million for the first quarter of 2020. On a non-GAAP basis, consolidated selling, general and administrative expenses were $13.0 million, of which $6.2 million is attributed to Journey, for the first quarter of 2021, compared to $11.6 million, of which $5.6 million is attributed to Journey, for the first quarter of 2020.On a GAAP basis, consolidated net loss attributable to common stockholders was $8.8 million, or $0.11 per share, for the first quarter of 2021, compared to consolidated net loss attributable to common stockholders of $12.4 million, or $0.19 per share for the first quarter of 2020.Fortress’ non-GAAP loss attributable to common stockholders was $7.3 million, or $0.09 per share, for the first quarter of 2021, compared to Fortress’ non-GAAP loss attributable to common stockholders of $4.2 million, or $0.07 per share, for the first quarter of 2020. Use of Non-GAAP Measures: In addition to the GAAP financial measures as presented in our Form 10-Q that will be filed with the Securities and Exchange Commission (“SEC”) on May 17, 2021, the Company has, in this press release, included certain non-GAAP measurements. The non-GAAP net loss attributable to common stockholders is defined by the Company as GAAP net loss attributable to common stockholders, less net losses attributable to common stockholders from our public partner companies Avenue, Checkpoint and Mustang Bio. In addition, the Company has also provided a Fortress non-GAAP loss attributable to common stockholders which is a modified EBITDA calculation that starts with the non-GAAP loss attributable to common stockholders and removes stock-based compensation expense, non-cash interest expense, amortization of licenses and debt discount, changes in fair values of investment, changes in fair value of derivative liability, and depreciation expense. Management believes use of these non-GAAP measures provide meaningful supplemental information regarding the Company's performance because (i) it allows for greater transparency with respect to key measures used by management in its financial and operational decision-making, (ii) it excludes the impact of non-cash or, when specified, non-recurring items that are not directly attributable to the Company's core operating performance and that may obscure trends in the Company's core operating performance, and (iii) it is used by institutional investors and the analyst community to help analyze the Company's results. However, non-GAAP loss attributable to common stockholders and any other non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Further, non-GAAP financial measures used by the Company and the manner in which they are calculated may differ from the non-GAAP financial measures or the calculations of the same non-GAAP financial measures used by other companies, including the Company's competitors. The tables below provide a reconciliation from GAAP to non-GAAP measures: For the three months ended March 31,($ in thousands) 20212020Net income (loss) attributable to common stockholders $(8,822)$(12,370)Net (Loss) income attributable to common stockholders - Avenue1 (225) (287)Net (Loss) income attributable to common stockholders - Checkpoint2 (1,158) (753)Net (Loss) income attributable to common stockholders - Mustang3 (2,917) (3,599)Non-GAAP net loss attributable to common stockholders $(4,522)$(7,731)Stock based compensation 1,889 1,740 Non-cash interest 210 769 Amortization of licenses 584 355 Amortization of debt discount 309 488 Depreciation 141 154 Increase in fair value of investment4 (5,913) - Fortress non-GAAP loss attributable to common stockholders $(7,302)$(4,224) Per common share - basic and diluted: Net income (loss) attributable to common stockholders (GAAP) $(0.11)$(0.19)Non-GAAP net loss attributable to common stockholders $(0.06)$(0.12)Fortress non-GAAP loss attributable to common stockholders $(0.09)$(0.07) Weighted average common shares outstanding - basic and diluted 80,851,671 63,496,256 1. Avenue net loss from their external SEC report for the three months ended March 31, 2021 and 2020 of $1.0 million and $1.2 million, respectively, net of non-controlling interest of $0.8 million and $0.9 million, respectively.2. Checkpoint net loss from their external SEC report of $6.5 million net of non-controlling interest of $4.6 million, MSA fee to Fortress of $0.1 million and financing fee to Fortress of $0.6 million for the quarter ended March 31, 2021; and net loss of $3.3 million net of non-controlling interest of $2.4 million, less MSA fee to Fortress of $0.1 million for the quarter ended March 31, 2020.3. Mustang net loss from their external SEC report of $14.8 million net of non-controlling interest of $10.7 million, MSA fee to Fortress of $0.1 million and financing fee to Fortress of $1.2 million for the quarter ended March 31, 2021; and net loss of $11.9 million net of non-controlling interest of $8.0 million, MSA fee to Fortress of $0.1 million and financing fee to Fortress of $0.1 million for the quarter ended March 31, 2020.4. Increase in fair value of investment in Caelum Biosciences for the quarter ended March 31, 2021. Reconciliation to non-GAAP research and development and general and administrative costs: For the quarter ended March 31, ($ in thousands) 2021 2020 Research and development1 $ 20,154 $ 15,117 Less: Research and development Avenue 258 697 Research and development Checkpoint 4,213 2,635 Research and development Mustang 2 11,556 9,502 Non-GAAP research and development costs $ 4,127 $ 2,283 Selling, general and administrative $ 17,542 $ 15,519 Less: General and administrative Avenue 743 577 General and administrative Checkpoint 3 1,615 1,553 General and administrative Mustang 4 2,210 1,768 Non-GAAP selling, general and administrative costs $ 12,974 $ 11,621 1. Includes Research and development expense and Research and development - licenses acquired expense for the quarter ended March 31, 2021 and 2020, respectively. 2. Excludes $0.1 million for Fortress MSA for the quarter ended March 31, 2021; excludes $0.1 million for Fortress MSA for the quarter ended March 31, 2020. 3. Excludes $0.1 million of Fortress MSA expense and $0.6 million Fortress financing fee for the quarter ended March 31, 2021; and $0.1 million of Fortress MSA expense for the quarter ended March 31, 2020. 4. Excludes $0.1 million of Fortress MSA expense and $1.2 million Fortress financing fee for the quarter ended March 31, 2021; and $0.1 million of Fortress MSA expense and $0.1 million Fortress financing fee for the quarter ended March 31, 2020. About Fortress Biotech Fortress Biotech, Inc. (“Fortress”) is an innovative biopharmaceutical company that was ranked in Deloitte’s 2019 and 2020 Technology Fast 500™, annual rankings of the fastest-growing North American companies in the technology, media, telecommunications, life sciences and energy tech sectors, based on percentages of fiscal year revenue growth over three-year periods. Fortress is focused on acquiring, developing and commercializing high-potential marketed and development-stage drugs and drug candidates. The company has seven marketed prescription pharmaceutical products and over 25 programs in development at Fortress, at its majority-owned and majority-controlled partners and at partners it founded and in which it holds significant minority ownership positions. Such product candidates span six large-market areas, including oncology, rare diseases and gene therapy, which allow it to create value for shareholders. Fortress advances its diversified pipeline through a streamlined operating structure that fosters efficient drug development. The Fortress model is driven by a world-class business development team that is focused on leveraging its significant biopharmaceutical industry expertise to further expand the company’s portfolio of product opportunities. Fortress has established partnerships with some of the world’s leading academic research institutions and biopharmaceutical companies to maximize each opportunity to its full potential, including Alexion Pharmaceuticals, Inc., AstraZeneca, City of Hope, Fred Hutchinson Cancer Research Center, St. Jude Children’s Research Hospital and Nationwide Children’s Hospital. For more information, visit www.fortressbiotech.com. Forward-Looking StatementsThis press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. As used below and throughout this press release, the words “we”, “us” and “our” may refer to Fortress individually or together with one or more partner companies, as dictated by context. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; risks relating to the timing of starting and completing clinical trials; our dependence on third-party suppliers; risks relating to the COVID-19 outbreak and its potential impact on our employees’ and consultants’ ability to complete work in a timely manner and on our ability to obtain additional financing on favorable terms or at all; our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein. Company Contacts:Jaclyn Jaffe and Bill BegienFortress Biotech, Inc.(781) email@example.com Investor Relations Contact:Daniel FerryLifeSci Advisors, LLC(617) firstname.lastname@example.org Media Relations Contact:Tony Plohoros6 Degrees(908) email@example.com FORTRESS BIOTECH, INC. AND SUBSIDIARIESCondensed Consolidated Balance Sheets ($ in thousands except for share and per share amounts) March 31, December 31, 2021 2020 (Unaudited) ASSETS Current assets Cash and cash equivalents $289,897 $233,351 Accounts receivable, net 19,439 19,349 Inventory 2,291 1,404 Other receivables - related party 849 744 Prepaid expenses and other current assets 5,517 6,723 Total current assets 317,993 261,571 Property and equipment, net 12,291 11,923 Operating lease right-of-use asset, net 20,072 20,487 Restricted cash 1,645 1,645 Long-term investment, at fair value 23,479 17,566 Intangible asset, net 14,442 14,629 Other assets 1,121 1,013 Total assets $391,043 $328,834 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable and accrued expenses $39,181 $40,674 Deferred revenue 7,200 — Income taxes payable 136 136 Operating lease liabilities, short-term 1,840 1,849 Partner company note payable, short-term 5,463 5,300 Total current liabilities 53,820 47,959 Notes payable, long-term (net of debt discount of $8,014 and $8,323 at March 31, 2021 and December 31, 2020, respectively) 51,986 51,677 Operating lease liabilities, long-term 22,447 22,891 Partner company note payable, long-term 5,613 7,359 Partner company convertible preferred shares 10,687 — Partner company derivative warrant liability 362 — Other long-term liabilities 1,903 1,949 Total liabilities 146,818 131,835 Commitments and contingencies Stockholders’ equity Cumulative redeemable perpetual preferred stock, $.001 par value, 15,000,000 authorized, 5,000,000 designated Series A shares, 3,427,138 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively, liquidation value of $25.00 per share 3 3 Common stock, $.001 par value, 150,000,000 shares authorized, 97,263,054 and 94,877,492 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively 97 95 Additional paid-in-capital 597,384 583,000 Accumulated deficit (491,582) (482,760) Total stockholders' equity attributed to the Company 105,902 100,338 Non-controlling interests 138,323 96,661 Total stockholders' equity 244,225 196,999 Total liabilities and stockholders' equity $391,043 $328,834 FORTRESS BIOTECH, INC. AND SUBSIDIARIESCondensed Consolidated Statements of Operations ($ in thousands except for share and per share amounts)(Unaudited) Three Months Ended March 31, 2021 2020 Revenue Product revenue, net $10,719 $11,946 Collaboration revenue 800 — Revenue - related party 68 972 Net revenue 11,587 12,918 Operating expenses Cost of goods sold - product revenue 3,908 3,810 Research and development 20,028 14,867 Research and development - licenses acquired 126 250 Selling, general and administrative 17,542 15,519 Total operating expenses 41,604 34,446 Loss from operations (30,017) (21,528) Other income (expense) Interest income 227 627 Interest expense and financing fee (2,189) (3,125) Change in fair value of investments 5,913 — Change in fair value of derivative liability — (42) Total other income (expense) 3,951 (2,540) Net loss (26,066) (24,068) Less: net loss attributable to non-controlling interests 17,244 11,698 Net loss attributable to common stockholders $(8,822) $(12,370) Net loss per common share - basic and diluted $(0.32) $(0.38) Net loss per common share attributable to non - controlling interests - basic and diluted $(0.21) $(0.18) Net loss per common share attributable to common stockholders - basic and diluted $(0.11) $(0.19) Weighted average common shares outstanding - basic and diluted 80,851,671 63,496,256 1 Includes product candidates in development at Fortress, majority-owned and controlled partners and partners in which Fortress holds significant minority ownership positions. As used herein, the words “we”, “us” and “our” may refer to Fortress individually or together with our affiliates and partners, as dictated by context.
Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline for Securities Fraud Class Action Lawsuit Filed Against PureCycle Technologies, Inc.
Matthew McConaughey has quietly been ‘making calls’ to political experts, before deciding whether to run for Governor of Texas, Alice Hutton writes
Danone's board is due to meet on Monday to approve former Barry Callebaut boss Antoine de Saint-Affrique's nomination as chief executive, Le Figaro newspaper reported on Sunday. De Saint-Affrique announced on April 22 he was stepping down from Swiss chocolate maker Barry Callebaut at the end of August, sparking speculation he would be a top candidate to take over at Danone. Danone did not respond to requests for comment.
Rafael Nadal defeated world number one Novak Djokovic to win a 10th Italian Open title on Sunday while fellow French Open champion Iga Swiatek whitewashed Karolina Pliskova in just 45 minutes to claim the women's tournament.
Jofra Archer has been ruled out of next month's Test series against New Zealand because of his long-standing elbow injury, plunging his availability for England's hectic upcoming schedule into serious doubt.The 26-year-old fast bowler returned to action for Sussex in this week's County Championship match against Kent - his first competitive appearance since undergoing surgery at the end of March to remove a piece of glass from his hand.
Emma Hayes’ Chelsea are one game away from football immortality as they face Barcelona in the Women’s Champions League Final tonight. Chelsea have already won the Women’s Super League title and the League Cup this season, and victory in Gothenburg today would leave them on for a quadruple with the Blues favourites to win the FA Cup. Hayes’ side knocked out Bayern Munich in the semi-finals, and they will have to see off another European giant in Barcelona if they are to lift the Champions League trophy in Sweden.
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(Bloomberg) -- Any mandates in the U.S. to require people to be vaccinated against Covid-19 will be set at the local level by companies and institutions such as colleges, the head of the Centers for Disease Control and Prevention said. The U.S.’s rolling one-week average of new virus cases fell to the lowest level since June.United Food and Commercial Workers, the union that represents more than 1 million food and retail employees, criticized the CDC’s guidance last week saying fully vaccinated people could mostly stop wearing masks.Singapore plans to close public schools this week and move to home-based learning, as a spike in unlinked cases poses the biggest challenge since last year in the city’s efforts to tackle the pandemic.Key Developments:Global Tracker: Cases pass 162.6 million; deaths exceed 3.37 millionVaccine Tracker: More than 1.45 billion doses have been givenSmall town reporters reveal coronavirus carnage in IndiaCDC’s big mask change went from science to secret to surpriseThere’s no hidden U.S. vaccine stockpile ready to send abroadAsia’s Covid success stories, Taiwan and Singapore, face threatsSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click CVID on the terminal for global data on cases and deaths.Frontline Workers’ Union Criticizes CDC (3:14 p.m. NY)United Food and Commercial Workers, the union that represents more than 1 million food and retail employees, praised the governors of New Jersey and Hawaii for maintaining stricter indoor mask rules.The union criticized guidance last week from the U.S. Centers for Disease Control and Prevention saying fully vaccinated people could mostly stop wearing masks, though those rules can be overridden by localities. Union President Marc Perrone said New Jersey Governor Phil Murphy and Hawaii Governor David Ige “are doing the right thing by keeping these life-saving mask mandates in place.”The union said that 462 frontline workers in the U.S., including in grocery stores and meatpacking plants, have died of Covid-19 and more than 93,000 were infected.California’s Deaths Double (2:25 p.m. NY)California’s deaths doubled to 55 from 27 the day before, with the fatalities still low at 0.1 deaths for every 100,000, based on the state’s seven-day average.The positive test rate dipped slightly to 1%, the health department’s website said. The state reported 1,370 Covid-19 cases yesterday, a rate of 3.3 new cases per 100,000, a decrease from the day before. California has administered more than 34.4 million vaccines in total.Singapore Faces Vaccine Delays (2 p.m. NY)Singapore may be facing slower vaccine deliveries over the next couple of months, as the country considers delaying second shots.Ho Ching, the wife of Prime Minister Lee Hsien Loong, cited the scarcity in a Facebook post Sunday. “Yes, our vaccine deliveries are slow this month and possibly next 1-2 months,” said Ho, who is also the outgoing CEO of Singapore’s state-owned investor Temasek Holdings Pte.New Health Minister Ong Ye Kung said the government is studying holding off the second shots in order to give more people at least one vaccine dose.“There have been many international studies and it shows that even with one dose, it confers good protection without compromising efficacy,” Ong said. “Our scientists have been studying this.”Italy Daily Deaths Drop (12:46 p.m. NY)Italy recorded 93 coronavirus deaths on Sunday, the lowest count since late October. New infections were 5,753, close to the seven-month low registered last week. Italy has been accelerating its vaccination campaign to over 500,000 shots per day, and infections have continued falling even with the loosening of restrictions on the economy and social life.CDC Shuns Federal Vaccine Mandate (12:25 p.m. NY)Any mandates in the U.S. to require people to be vaccinated against Covid-19 will be set at the local level by companies and institutions such as colleges, the head of the Centers for Disease Control and Prevention said.“It may very well be that local businesses, local jurisdictions, will work towards vaccine mandates,” CDC Director Rochelle Walensky said on NBC’s “Meet the Press.” “That is going to be locally driven and not federally driven.”Separately, on “Fox News Sunday,” Walensky cited colleges or universities that may enforce vaccine mandates for students, and that the cruise ship industry may also consider it for people about to embark on multiday journeys at sea.Walensky spoke days after the CDC announced that Americans vaccinated against Covid-19 were clear to shed their face masks in public at most times.20 Million Fully Vaccinated in U.K. (12:16 p.m. NY)More than 20 million people, or 38% of the British adult population, are fully vaccinated against the coronavirus, the government said Sunday. Over 36.5 million, or 69%, have had one dose. The U.K. will open inoculations to everyone 35 and older this week as it combats cases of a highly transmissible variant that originated in India. The country reported another 1,926 cases and four deaths on Sunday. Both figures are up about 9% over the last seven days.Hong Kong Tightens Travel Rules (10:55 a.m. NY)Hong Kong will increase restrictions on arrivals from Taiwan and Singapore, the South China Morning Post reports.Taiwan, Singapore and Japan are to be classified high risk according to the city’s vaccine bubble travel arrangements. Unvaccinated travelers arriving from those places will have to quarantine at designated hotels for 21 days as well as present proof of a negative test.Singapore Shuts Schools (7:59 a.m. NY)All primary, secondary, junior college and Millennia Institute students will shift to full home-based learning from May 19 till the end of the school term on May 28, Singapore’s Ministry of Education said on Sunday. Preschools and student care centers remain open to support parents who have to work.New Attack Hits Irish Health System (8:07 a.m. NY)Ireland’s Department of Health has been hit by a cyber attack similar to the ransomware one carried out last week on the country’s Health Service Executive, RTE News said on Sunday.Covid-19 vaccination appointments and testing are underway, but there may be some delays in getting results back, the HSE said. Contact tracing is also operating, though it may take longer than usual, it said.U.S. Cases Now Fewest Since June (7:55 a.m. NY)The U.S. added slightly more than 30,000 cases on Saturday, sending the nation’s rolling one-week average to the lowest level since late last June, according to data compiled by Johns Hopkins University and Bloomberg.Even so, another 480 people died of illness related to Covid-19. That compares with peaks of more than 5,000 deaths a day in January and February.Amazon Sends More Oxygen to India (7:33 a.m. NY)Amazon.com Inc. and Indian renewable energy company Greenko Group are boosting supplies of oxygen concentrators to the country.The U.S. company is working with “sellers on its marketplace to help them bring in about 9,000 oxygen concentrators for customers in India,” it wrote in a blog on Saturday. The first batch of 1,000 oxygen concentrators have landed and are available for purchase while the rest are expected in the second half of May, it said.Turkey Eases Curbs (6:51 a.m. NY)Turkey will ease its virus restrictions from Monday as new cases of Covid-19 decline following a three-week lockdown, offering a glimmer of hope for the summer tourist season.Infections plummeted to 11,472 on Saturday from a record high of 63,082 a month ago, though that’s still above the target of no more than 5,000 cases set by President Recep Tayyip Erdogan when he announced the national lockdown from April 29.Most travel restrictions will be lifted but nighttime and weekend curfews will remain in place, and restaurants will only open for food deliveries, according to an Interior Ministry decree on Sunday.German Infection Rate Continues to Fall (6 a.m. NY)Germany’s contagion rate fell further below a key level, a trend that could trigger a loosening of some pandemic restrictions.Infections dropped to 83.1 per 100,000 people over the past seven days, according to the RKI public-health institute. The incidence rate dipped under 100 on Friday and regional governments can start to lift restrictions if it remains below that level for five consecutive working days.Taiwan Local Cases Hit Record (5:38 p.m. HK)Taiwan registered a record 206 new local cases on Sunday, after adding 180 infections the previous day. The country is racing to contain its worst outbreak of the coronavirus, while averting a full lockdown.Italy Vaccinations Cut Infections (5 p.m. HK)Covid-19 vaccines are highly effective even after the first dose, according to a large-scale study by Italy’s national health institute. Infections, hospitalizations and deaths all declined significantly about 14 days after the first shot. After 35 days, infections were 80% lower than among those who hadn’t received any dose, while hospitalizations were 90% lower and deaths 95% lower.More than 7 million Italians who had received at least one vaccine dose between Dec. 27 and April 4 were surveyed. Two-thirds were given the BioNTech-Pfizer vaccine, while 29% received AstraZeneca Plc’s shot.Cyclone Heads to India (3:15 p.m. HK)A cyclone is set to hit the western coast of India -- the country’s industrialized belt with big refineries and ports -- prompting authorities already grappling with a deadly second virus wave to start preparations for evacuating citizens.Cyclone “Tauktae,” currently about 500 kilometers (310 miles) from the financial hub of Mumbai, is expected to make landfall Tuesday morning in the southern districts of Gujarat, with wind speeds touching 175 kilometers per hour, according to the India Meteorological Department. It has intensified into a “very severe cyclonic storm,” the national weather forecaster said in a tweet Sunday.Local authorities in Mumbai have already moved hundreds of Covid-19 patients to other facilities. Prime Minister Narendra Modi told senior government officials to ensure “maintenance of all essential services such as power, telecommunications, health and drinking water,” according to a May 15 statement from Press Information Bureau.India Virus Cases Ease (1:50 p.m. HK)India reported 311,170 new infections Sunday, continuing the downward trajectory seen in the past few days, bolstering hopes that cases may have peaked after a deadly second wave that overwhelmed hospitals and crematoriums. The case tally has crossed 24.6 million, according to the India’s health ministry. More than 182 million vaccine doses have been administered.While the daily surge in cases is ebbing, there’s no let up in deaths with the Asian nation reporting 4,077 more casualties, pushing the total to 270,284. Those death toll numbers might be understated, according to local media reports of bodies floating along river banks in the northern states.The Dainik Bhaskar, a Hindi newspaper popular across India’s crowded heartland, fanned 30 of its reporters along the banks of the river Ganga in Uttar Pradesh state. They found -- and photographed -- more than 2,000 corpses across some 1,140 kilometers (708 miles). The state government claims only about 300 are dying daily.Their findings make grim reading: authorities are piling silt over more than 350 bodies lying in shallow graves in Kannauj, the reporters say; they see dogs gnawing at some of the 400 corpses just a short distance from a crematorium in Kanpur; they count 52 corpses floating down the river in Ghazipur, often crossing state borders.Singapore to Vaccinate Children (11:30 a.m. HK)Singapore plans to vaccinate under 16 year-olds after a recent rise of Covid-19 infections among students in the island state, according to Education Minister Chan Chun Sing.The ministries of education and health are working out plans for the “vaccination of our students,” Chan wrote on his Facebook page. “Once the approval for use is granted, we will roll out vaccinations to those below 16.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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