Shah Rukh Khan, in a chatty mood on Tuesday, interacted with his fans on social media. The actor scooped out some time from his busy life and started an 'Ask SRK' session on Twitter, as a part of which he answered his fans' questions.
Shah Rukh Khan, in a chatty mood on Tuesday, interacted with his fans on social media. The actor scooped out some time from his busy life and started an 'Ask SRK' session on Twitter, as a part of which he answered his fans' questions.
Goldman Sachs MLP and Energy Renaissance Fund (the "Fund") (NYSE:GER) is announcing its quarterly distribution of $0.155 per common share.1 The distribution is payable on the date noted below.
Hess Midstream LP to Participate in Wells Fargo Virtual Midstream and Utility Symposium
Spok Holdings, Inc. (NASDAQ: SPOK), a global leader in healthcare communications, today announced the appointment of Kristen Lalowski as Chief Product Officer. In this role, Lalowski will be responsible for managing Spok’s portfolio of solutions through a market-driven approach, consequently driving value for customers and the company. Lalowski brings over 20 years of experience in healthcare and healthcare IT, specifically in the areas of nursing, product management and marketing, operations, sales and client services.
Kimco Realty Corp. (NYSE: KIM) will announce its fourth quarter 2020 earnings on Thursday, February 11, 2021 before market open. You are invited to listen to our quarterly earnings conference call, which will be broadcast live over the Internet on Thursday, February 11, 2021 at 8:30 AM ET.
Although the fall of the retail group puts 13,000 jobs at risk, there will be no immediate redundancies.
Stocks fell Monday as investors gave back some of last week’s gains, which sent the S&P 500 and Nasdaq to fresh record highs and the Dow above 30,000 for the first time ever.
Change Healthcare announces the sale of its Capacity Management business to HealthStream.
The Nanosilica Market will grow by $ 1.63 bn during 2020-2024
Everbridge, Inc. (NASDAQ: EVBG), the global leader in critical event management (CEM), today announced its Chief Executive Officer, David Meredith, and its Senior Vice President and Chief Financial Officer, Patrick Brickley, will present at the Credit Suisse Technology Conference.
* Third quarter total revenue of $777.2 million, up 367% year-over-year * Number of customers contributing more than $100,000 in TTM revenue up 136% year-over-year * Approximately 433,700 customers with more than 10 employees, up 485% year-over-year SAN JOSE, Calif., Nov. 30, 2020 (GLOBE NEWSWIRE) -- Zoom Video Communications, Inc. (NASDAQ: ZM), a leading provider of video-first unified communications, today announced financial results for the third fiscal quarter ended October 31, 2020.“We remain focused on the communication needs of our customers and communities as they navigate the current environment and adapt to a new world of work from anywhere using Zoom. We aspire to provide the most innovative, secure, reliable, and high-quality communications platform to help people connect, collaborate, build and learn on Zoom,” said Zoom founder and CEO, Eric S. Yuan. “Strong demand and execution led to revenue growth of 367% year-over-year with solid growth in non-GAAP operating income and cash flow in our third fiscal quarter. We expect to strengthen our market position as we finish the fiscal year with an increased total revenue outlook of approximately $2.575 billion to $2.580 billion for fiscal year 2021, or approximately 314% increase year-over-year.”Third Quarter Fiscal Year 2021 Financial Highlights: * Revenue: Total revenue for the third quarter was $777.2 million, up 367% year-over-year. * Income (Loss) from Operations and Operating Margin: GAAP income from operations for the third quarter was $192.2 million, compared to GAAP loss from operations of $1.7 million in the third quarter of fiscal year 2020. After adjusting for stock-based compensation expense and related payroll taxes, and acquisition-related expenses, non-GAAP income from operations for the third quarter was $290.8 million, up from $21.3 million in the third quarter of fiscal year 2020. For the third quarter, GAAP operating margin was 24.7% and non-GAAP operating margin was 37.4%. * Net Income and Net Income Per Share: GAAP net income attributable to common stockholders for the third quarter was $198.4 million, or $0.66 per share, compared to GAAP net income attributable to common stockholders of $2.2 million, or $0.01 per share in the third quarter of fiscal year 2020. Non-GAAP net income for the quarter was $297.2 million, after adjusting for stock-based compensation expense and related payroll taxes, acquisition-related expenses, and undistributed earnings attributable to participating securities. Non-GAAP net income per share was $0.99. In the third quarter of fiscal year 2020, non-GAAP net income was $25.2 million, or $0.09 per share. * Cash: Total cash, cash equivalents, and marketable securities, excluding restricted cash, as of October 31, 2020 was $1.9 billion. * Cash Flow: Net cash provided by operating activities was $411.5 million for the third quarter, compared to $61.9 million in the third quarter of fiscal year 2020. Free cash flow, which is net cash provided by operating activities less purchases of property and equipment, was $388.2 million, compared to $54.7 million in the third quarter of fiscal year 2020.Customer Metrics: Drivers of total revenue included acquiring new customers and expanding across existing customers. At the end of the third quarter of fiscal year 2021, Zoom had: * Approximately 433,700 customers with more than 10 employees, up approximately 485% from the same quarter last fiscal year. * 1,289 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 136% from the same quarter last fiscal year. * A trailing 12-month net dollar expansion rate in customers with more than 10 employees above 130% for the 10th consecutive quarter. Financial Outlook: Zoom is providing the following guidance for its fourth quarter fiscal year 2021 and its full fiscal year 2021. Zoom's revenue outlook takes into consideration the demand for remote work solutions for businesses. It also assumes increased churn in the fourth quarter when compared to historic churn levels due to a higher percentage of customers who purchased monthly subscriptions. * Fourth Quarter Fiscal Year 2021: Total revenue is expected to be between $806.0 million and $811.0 million and non-GAAP income from operations is expected to be between $243.0 million and $248.0 million. Non-GAAP diluted EPS is expected to be between $0.77 and $0.79 with approximately 306 million non-GAAP weighted average shares outstanding. * Full Fiscal Year 2021: Total revenue is expected to be between $2.575 billion and $2.580 billion. Non-GAAP income from operations is expected to be between $865.0 million and $870.0 million. Non-GAAP diluted EPS is expected to be between $2.85 and $2.87 with approximately 300 million non-GAAP weighted average shares outstanding.Additional information on Zoom's reported results, including a reconciliation of the non-GAAP results to their most comparable GAAP measures, is included in the financial tables below. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future, although it is important to note that these factors could be material to Zoom's results computed in accordance with GAAP.A supplemental financial presentation and other information can be accessed through Zoom’s investor relations website at investors.zoom.us.Zoom Video Earnings CallZoom will host a Zoom Video Webinar for investors on November 30, 2020 at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time to discuss the company’s financial results and business highlights. Investors are invited to join the Zoom Video Webinar by visiting: https://investors.zoom.us/About ZoomZoom Video Communications, Inc. (NASDAQ: ZM) brings teams together to get more done in a frictionless and secure video environment. Our easy, reliable, and innovative video-first unified communications platform provides video meetings, voice, webinars, and chat across desktops, phones, mobile devices, and conference room systems. Zoom helps enterprises create elevated experiences with leading business app integrations and developer tools to create customized workflows. Founded in 2011, Zoom is headquartered in San Jose, California, with offices around the world. Visit zoom.com and follow @zoom_us.Forward-Looking Statements This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for the fourth quarter of fiscal year 2021 and full fiscal year 2021, Zoom’s growth strategy and business aspirations for its video-first unified communications platform, its market position, and the continued impact of COVID-19 on its business and operations. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements, including: declines in new customers and hosts, renewals or upgrades, difficulties in evaluating our prospects and future results of operations given our limited operating history, competition from other providers of communications platforms, continued uncertainty regarding the extent and duration of the impact of COVID-19 and the responses of government and private industry thereto, as well as the impact of COVID-19 on the overall economic environment, any or all of which will have an impact on demand for remote work solutions for businesses as well as overall distributed, face-to-face interactions and collaboration using Zoom, delays or outages in services from our co-located data centers, and failures in internet infrastructure or interference with broadband access which could cause current or potential users to believe that our systems are unreliable. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our most recent filings with the Securities and Exchange Commission (the “SEC”), including our quarterly report on Form 10-Q for the quarter ended July 31, 2020. Forward-looking statements speak only as of the date the statements are made and are based on information available to Zoom at the time those statements are made and/or management's good faith belief as of that time with respect to future events. Zoom assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.Non-GAAP Financial MeasuresZoom has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Zoom uses these non-GAAP financial measures internally in analyzing its financial results and believes that use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing Zoom’s financial results with other companies in its industry, many of which present similar non-GAAP financial measures.Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with Zoom’s condensed consolidated financial statements prepared in accordance with GAAP. A reconciliation of Zoom’s historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review the reconciliation.Non-GAAP Income From Operations and Non-GAAP Operating Margins. Zoom defines non-GAAP income from operations as income from operations excluding stock-based compensation expense and related payroll taxes, expenses related to charitable donation of common stock and acquisition-related expenses. Zoom excludes stock-based compensation expense and expenses related to charitable donation of common stock because they are non-cash in nature and excluding these expenses provides meaningful supplemental information regarding Zoom’s operational performance and allows investors the ability to make more meaningful comparisons between Zoom’s operating results and those of other companies. Zoom excludes the amount of employer payroll taxes related to employee stock plans, which is a cash expense, in order for investors to see the full effect that excluding stock-based compensation expense had on Zoom's operating results. In particular, this expense is dependent on the price of our common stock and other factors that are beyond our control and do not correlate to the operation of the business. Zoom views acquisition-related expenses when applicable, such as amortization of acquired intangible assets, transaction costs, and acquisition-related retention payments that are directly related to business combinations as events that are not necessarily reflective of operational performance during a period. In particular, Zoom believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods which may or may not include such expenses and assist in the comparison with the results of other companies in the industry.Non-GAAP Net Income and Non-GAAP Net Income Per Share, Basic and Diluted. Zoom defines non-GAAP net income and non-GAAP net income per share, basic and diluted, as GAAP net income attributable to common stockholders and GAAP net income per share attributable to common stockholders, basic and diluted, respectively, adjusted to exclude stock-based compensation expense and related payroll taxes, expenses related to charitable donation of common stock, acquisition-related expenses, and undistributed earnings attributable to participating securities. Zoom excludes undistributed earnings attributable to participating securities because they are considered by management to be outside of Zoom’s core operating results, and excluding them provides investors and management with greater visibility to the underlying performance of Zoom’s business operations, facilitates comparison of its results with other periods and may also facilitate comparison with the results of other companies in the industry.In order to calculate non-GAAP net income per share, basic and diluted, Zoom uses a non-GAAP weighted-average share count. Zoom defines non-GAAP weighted-average shares used to compute non-GAAP net income per share, basic and diluted, as GAAP weighted average shares used to compute net income per share attributable to common stockholders, basic and diluted, adjusted to reflect the common stock issued in connection with the IPO, including the concurrent private placement, that are outstanding as of the end of the period as if they were outstanding as of the beginning of the period for comparability.Free Cash Flow. Zoom defines free cash flow as GAAP net cash provided by operating activities less purchases of property and equipment. Zoom considers free cash flow to be a liquidity measure that provides useful information to management and investors regarding net cash provided by operating activities and cash used for investments in property and equipment required to maintain and grow the business.Customer MetricsZoom defines a customer as a separate and distinct buying entity, which can be a single paid host or an organization of any size (including a distinct unit of an organization) that has multiple paid hosts.Zoom calculates net dollar expansion rate as of a period end by starting with the annual recurring revenue (“ARR”) from all customers with more than 10 employees as of 12 months prior (“Prior Period ARR”). Zoom defines ARR as the annualized revenue run rate of subscription agreements from all customers at a point in time. We then calculate the ARR from these customers as of the current period end (“Current Period ARR”), which includes any upsells, contraction, and attrition. Zoom divides the Current Period ARR by the Prior Period ARR to arrive at the net dollar expansion rate. For the trailing 12 months calculation, Zoom takes an average of the net dollar expansion rate over the trailing 12 months.Press RelationsColleen Rodriguez Global Public Relations Lead for Zoom firstname.lastname@example.orgInvestor RelationsTom McCallum Head of Investor Relations for Zoom email@example.com Zoom Video Communications, Inc. Condensed Consolidated Balance Sheets (Unaudited, in thousands) As of October 31, 2020 January 31, 2020 Assets Current assets: Cash and cash equivalents $730,506 $283,134 Marketable securities 1,141,425 572,060 Accounts receivable, net 280,896 120,435 Deferred contract acquisition costs, current 126,001 44,885 Prepaid expenses and other current assets 345,448 75,008 Total current assets 2,624,276 1,095,522 Deferred contract acquisition costs, noncurrent 160,142 46,245 Property and equipment, net 108,077 57,138 Operating lease right-of-use assets 63,008 68,608 Goodwill 24,340 — Other assets, noncurrent 70,468 22,332 Total assets $3,050,311 $1,289,845 Liabilities and stockholders’ equity Current liabilities: Accounts payable $12,666 $1,596 Accrued expenses and other current liabilities 565,520 122,692 Deferred revenue, current 835,762 209,542 Total current liabilities 1,413,948 333,830 Deferred revenue, noncurrent 18,935 20,994 Operating lease liabilities, noncurrent 60,522 64,792 Other liabilities, noncurrent 56,988 36,286 Total liabilities 1,550,393 455,902 Stockholders’ equity: Preferred stock — — Common stock 284 277 Additional paid-in capital 1,086,459 832,705 Accumulated other comprehensive income 1,317 809 Retained earnings 411,858 152 Total stockholders’ equity 1,499,918 833,943 Total liabilities and stockholders’ equity $3,050,311 $1,289,845 Note: The amount of unbilled accounts receivable included within accounts receivable, net on the condensed consolidated balance sheets was $21.9 million and $12.5 million as of October 31, 2020 and January 31, 2020, respectively. Zoom Video Communications, Inc. Condensed Consolidated Statements of Operations (Unaudited, in thousands, except share and per share amounts) Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Revenue $777,196 $166,593 $1,768,883 $434,407 Cost of revenue 258,727 30,845 554,705 82,849 Gross profit 518,469 135,748 1,214,178 351,558 Operating expenses: Research and development 42,582 17,573 111,705 46,410 Sales and marketing 190,157 96,048 470,886 239,741 General and administrative 93,488 23,806 227,856 63,264 Total operating expenses 326,227 137,427 810,447 349,415 Income (loss) from operations 192,242 (1,679) 403,731 2,143 Interest income and other, net 1,779 4,209 9,650 9,674 Net income before (benefit from) provision for income taxes 194,021 2,530 413,381 11,817 (Benefit from) provision for income taxes (4,621) 319 1,675 1,851 Net income 198,642 2,211 411,706 9,966 Undistributed earnings attributable to participating securities (202) (4) (531) (2,493) Net income attributable to common stockholders $198,440 $2,207 $411,175 $7,473 Net income per share attributable to common stockholders: Basic $0.70 $0.01 $1.46 $0.03 Diluted $0.66 $0.01 $1.38 $0.03 Weighted-average shares used in computing net income per share attributable to common stockholders: Basic 284,783,006 273,316,850 282,564,481 219,295,445 Diluted 299,258,765 292,771,122 297,605,941 241,512,569 Zoom Video Communications, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited, in thousands) Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Cash flows from operating activities: Net income $198,642 $2,211 $411,706 $9,966 Adjustments to reconcile net income to net cash provided by operating activities: Stock-based compensation expense 93,925 21,795 179,557 46,532 Amortization of deferred contract acquisition costs 30,500 9,913 71,281 25,939 Charitable donation of common stock — — 23,312 — Provision for accounts receivable allowances 5,259 1,283 20,218 3,976 Depreciation and amortization 7,587 4,415 19,401 11,589 Non-cash operating lease cost 2,585 1,724 7,182 4,840 Remeasurement gain on equity investment — — (2,538) — Other 1,689 (1,063) 3,717 (1,577) Changes in operating assets and liabilities: Accounts receivable 6,809 (1,525) (190,117) (36,886) Prepaid expenses and other assets 5,471 1,158 (48,258) (22,439) Deferred contract acquisition costs (52,504) (17,124) (266,294) (50,824) Accounts payable (2,098) 1,665 8,773 (1,118) Accrued expenses and other liabilities 1,853 18,562 203,919 53,485 Deferred revenue 114,451 20,345 633,600 76,579 Operating lease liabilities, net (2,699) (1,429) (3,678) (4,724) Net cash provided by operating activities 411,470 61,930 1,071,781 115,338 Cash flows from investing activities: Purchases of marketable securities (531,227) (150,620) (1,016,109) (629,107) Maturities of marketable securities 119,269 113,200 406,607 164,140 Sales of marketable securities — — 36,897 — Purchases of property and equipment (23,264) (7,195) (58,517) (28,132) Sales of property and equipment 297 — 297 — Cash paid for acquisition, net of cash acquired — — (26,486) — Purchase of equity investment — (3,000) (8,000) (3,000) Purchase of convertible promissory note — — (5,000) — Purchase of intangible assets (2,891) — (4,385) — Collections of employee loans — — 1,319 — Net cash used in investing activities (437,816) (47,615) (673,377) (496,099) Cash flows from financing activities: Proceeds from employee equity transactions to be remitted to employees and tax authorities, net 17,176 48,547 251,641 48,547 Proceeds from exercise of stock options, net of repurchases 6,424 3,393 23,841 5,584 Proceeds from issuance of common stock for employee stock purchase plan — — 20,760 — Proceeds from initial public offering and private placement, net of underwriting discounts and commissions and other offering costs — (455) — 542,492 Net cash provided by financing activities 23,600 51,485 296,242 596,623 Net (decrease) increase in cash, cash equivalents, and restricted cash (2,746) 65,800 694,646 215,862 Cash, cash equivalents, and restricted cash – beginning of period 1,031,474 216,030 334,082 65,968 Cash, cash equivalents, and restricted cash – end of period $1,028,728 $281,830 $1,028,728 $281,830 Zoom Video Communications, Inc. Reconciliation of GAAP to Non-GAAP Measures (Unaudited, in thousands, except share and per share amounts) Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 GAAP income (loss) from operations $192,242 $(1,679) $403,731 $2,143 Add: Stock-based compensation expense and related payroll taxes 97,131 22,948 188,979 48,079 Charitable donation of common stock — — 23,312 — Acquisition-related expenses 1,398 — 6,340 — Non-GAAP income from operations $290,771 $21,269 $622,362 $50,222 GAAP net income attributable to common stockholders $198,440 $2,207 $411,175 $7,473 Add: Stock-based compensation expense and related payroll taxes 97,131 22,948 188,979 48,079 Charitable donation of common stock — — 23,312 — Acquisition-related expenses 1,398 — 6,340 — Undistributed earnings attributable to participating securities 202 4 531 2,493 Non-GAAP net income $297,171 $25,159 $630,337 $58,045 Net income per share - basic and diluted: GAAP net income per share - basic $0.70 $0.01 $1.46 $0.03 GAAP net income per share - diluted $0.66 $0.01 $1.38 $0.03 Non-GAAP net income per share - basic $1.04 $0.09 $2.23 $0.22 Non-GAAP net income per share - diluted $0.99 $0.09 $2.12 $0.20 GAAP weighted-average shares used to compute net income per share - basic 284,783,006 273,316,850 282,564,481 219,295,445 Add: Non-GAAP unweighted adjustment for common stock issued in connection with IPO — — — 50,116,650 Non-GAAP weighted-average shares used to compute net income per share - basic 284,783,006 273,316,850 282,564,481 269,412,095 GAAP weighted-average shares used to compute net income per share - diluted 299,258,765 292,771,122 297,605,941 241,512,569 Add: Non-GAAP unweighted adjustment for common stock issued in connection with IPO — — — 50,116,650 Non-GAAP weighted-average shares used to compute net income per share - diluted 299,258,765 292,771,122 297,605,941 291,629,219 Net cash provided by operating activities $411,470 $61,930 $1,071,781 $115,338 Less: Purchases of property and equipment (23,264) (7,195) (58,517) (28,132) Free cash flow (non-GAAP) $388,206 $54,735 $1,013,264 $87,206 Net cash used in investing activities $(437,816) $(47,615) $(673,377) $(496,099) Net cash provided by financing activities $23,600 $51,485 $296,242 $596,623
Sunnova Announces Launch of Primary and Secondary Offering of Shares of Common Stock
Vince Holding Corp. (NYSE:VNCE), a leading global contemporary group, today announced that it plans to report its third quarter 2020 financial results post-market on Monday, December 14, 2020. The Company also plans to hold a conference call to discuss its financial results on the same day at 4:30 p.m. ET. During the conference call, the Company may answer questions concerning business and financial developments, trends and other business or financial matters. The Company's responses to these questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed.
Bill.com Announces Closing of $1.15 Billion of 0% Convertible Senior Notes due 2025
Recent Acquisitions Driving Annualized Revenue Run Rate of $35 Million * Significant growth and expansion, announcing seven acquisitions during the quarter and adding approximately $19 million to revenue * Gross margin of 42% as a result of higher margin verticals and increase in telehealth usage * Closed oversubscribed $20.8 million bought deal during Q3 and $37.3 million bought deal subsequent to the quarter * Strong balance sheet with current cash position of approximately $60 million; fully-funded to continue executing on robust pipeline of acquisition targets * On track to achieve (i) annualized revenue run rate exceeding $35 million, (ii) gross margin exceeding 50%, and (iii) improved Adjusted EBITDA performance VANCOUVER, British Columbia, Nov. 30, 2020 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a telehealth company revolutionizing the delivery of healthcare to patients, announced its financial results for the third quarter ending September 30, 2020. All financial information is presented in Canadian dollars unless otherwise indicated.Dr. Essam Hamza, CEO of CloudMD commented, “I am very pleased with our third quarter results, which have provided us a strong foundation for continued aggressive growth. We are well-funded after raising almost $60 million over the last few months, which will allow us to deploy capital on a robust pipeline of acquisition targets. Based on our Q3 results, combined with recently completed and announced acquisitions, we currently have a solid annualized revenue run rate of $35 million; through planned accretive acquisitions and organic growth, we are confident that this run rate will continue to grow in 2021. We recently closed a number of key acquisitions in Q4 including Snapclarity, iMD, Benchmark and Re:Function which will provide meaningful revenue and are fundamental to our new Enterprise Health Solutions Division. These acquisitions were transformational for us as we are now one of the only healthcare technology companies to provide comprehensive primary and specialist care, mental health support, and educational resources on our proprietary platforms to healthcare practitioners, patients and enterprise clients. We are extremely proud that CloudMD has positioned itself as a leader in this space. Our focus on engaging patients and empowering practitioners has created a transformational shift on how healthcare is delivered and proven to have better outcomes for all members involved. We’d like to thank our loyal shareholders and look forward to the next phase of this exciting journey.”Q3 2020 Financial Highlights * Q3 2020 total revenue was $3.4 million, compared to $2.2 million in Q3 2019, an increase of 55%. The revenue generated from Software-as-a-Service (“SaaS”) model digital services was $0.5 million compared to $0.4 million in Q3 2019, an increase of 22% primarily attributable to organic growth. The revenue generated from clinic services and pharmacies was $2.9 million compared to $1.8 million in Q3 2019, an increase of 62%. * Q3 2020 gross margin was 42%, compared to 46% in Q3 2019. Gross margin for the underlying businesses remained stable, and overall gross margin decreased due to the revenue mix. In the past year, the business acquisitions completed were primarily clinic services and pharmacies, which attracts a lower margin as compared to SaaS model digital services. Subsequent acquisitions have been more focused on SaaS model digital services and Enterprise Health Solutions which should have a positive impact on overall margins. * Net loss and comprehensive loss in Q3 2020 was $2.7 million or $0.02 per share, compared to $0.8 million or $0.01 per share in Q3 2019. In the quarter, the Company made strategic investments in numerous marketing initiatives to build awareness of the Company and its products and services, which it expects to result in strong future organic growth. * Adjusted EBITDA was a loss of $1.3 million for Q3 2020, compared to a loss of $0.1 million in Q3 2019. The Adjusted EBITDA calculation was refined in the quarter to adjust for costs related to financing, acquisitions and litigation including associated loss provisions, for management to better evaluate its cash operating performance. A complete definition and calculation are provided further below, and the calculation has been retroactively applied. * Cash and cash equivalents as at September 30, 2020 were $33.9 million.Third Quarter Business Highlights * On August 5, 2020, the Company announced it closed the acquisition of South Surrey Medical Inc., an integrated medical clinic based in Metro Vancouver, BC. * On August 11, 2020, the Company appointed Patrick Lo, a leading expert on data protection and regulatory privacy matters for the healthcare sector in North America, as a Strategic Advisor. * On August 13, 2020, the Company signed a share purchase agreement to acquire majority interest in West Mississauga Medical Ltd., a comprehensive family medicine and specialist medical clinic. * On September 9, 2020, the Company announced it has appointed experienced healthcare executive, Karen Adams as Chief Health Innovation Officer. * On September 16, 2020, the Company announced it has appointed experienced industry leaders to its newly formed Chairman’s Advisory Board, all with records of building successful high growth organizations with an international outlook. * On September 22, 2020, the Company closed a $20.8 million oversubscribed, bought deal financing. Highlights Subsequent to Third Quarter * On October 8, 2020, the Company launched CloudMD on Demand, an online, virtual care service for companies, insurers and pharmacies to offer their customers easier, more convenient access to virtual telemedicine. * On October 15, 2020, the Company announced it has closed the acquisition of Snapclarity Inc., an on demand, digital platform that provides an assessment for mental health disorders which includes a personalized care plan, access to online resources, a clinical healthcare team and the ability to match to the right therapists. * On October 19, 2020, the Company announced it has appointed Mena Beshay to a newly created, more focused role of Global Head, Corporate Development, and Daniel Lee, an experienced capital markets and technology financial executive, as Chief Financial Officer. * On October 21, 2020, the Company announced it has signed a binding term sheet to acquire Canadian Medical Directory, Canada’s largest, most trusted, directory of medical professionals including 91,000 practicing physicians and 10,000 residents and nurse practitioners across the country. * On October 22, 2020, the Company announced it has signed a binding term sheet to acquire Medical Confidence Inc., a revolutionary healthcare navigation platform with proven results in wait time reduction and patient satisfaction. * On October 26, 2020, the Company announced it has closed the acquisition of an 87.5% interest in Benchmark Systems Inc., a leading cloud-based provider of fully integrated solutions that automate healthcare workflow processes including revenue management, practice management and electronic records management. * On October 26, 2020, the Company announced it has closed the acquisition of a US-based medical clinic as part of a comprehensive strategy to provide end to end healthcare services for chronic care patients. * On October 28, 2020, the Company announced it has signed a binding term sheet to acquire HumanaCare Inc., an integrated, Employee Assistance Program (“EAP”) solution which provides holistic, physical and mental health support for employees and their family members. * On November 9, 2020, the Company announced that it closed a $37.3 million oversubscribed, bought deal financing. * On November 12, 2020, the Company launched a new Enterprise Health Solutions division, which provides a one-stop-shop for corporations, insurers and advisors to address the comprehensive health and wellness of their employees and their families. * On November 18, 2020, the Company announced it has closed the acquisition of iMD Health Group Corp., a novel award winning platform designed for healthcare professionals at every level of care to better engage, inform and educate patients about their conditions and treatment plans. * On November 19, 2020, the Company announced that it has closed the acquisition of Re:Function Health Group Inc., a profitable rehabilitation clinic network of 8 clinics and 37 specialists and allied health professionals across British Columbia. OutlookThe Company is focused on revolutionizing the healthcare industry by leveraging technology to digitalize its delivery to provide both better access to care which leads to better health outcomes. CloudMD has a strong balance sheet with approximately $60 million in cash, which will allow it to continue deploying capital on a robust pipeline of accretive, synergistic acquisitions. Subsequent to the quarter, the Company completed five strategic acquisitions which enhances its portfolio of SaaS model digital services and clinic services offering. The Company also announced another four acquisitions, primarily focused on its newly created Enterprise Health Solutions Division, which are expected to close by December 31, 2020.CloudMD’s organic growth will be largely driven by its network of hybrid clinics, pharmacy partnerships, SaaS solutions and enterprise partnerships. Through its recent acquisitions, there are opportunities for cross-functional synergies and cross selling that will drive further organic growth.With our Q3 2020 financial performance, combined with organic growth, and completed and announced acquisitions, CloudMD is on track to achieve (i) annualized revenue run rate exceeding $35 million, (ii) gross margin exceeding 50%, and (iii) improved Adjusted EBITDA performance.CloudMD will continue to focus on delivering meaningful shareholder value by executing on its growth strategy through accretive acquisitions, strategic capital allocation and continuing to achieve organic growth across all divisions.Selected Financial InformationAll results were prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. Three months ended Nine months ended Selected Financial Information September 30, September 30, 2020 2019 (%) 2020 2019 (%) Revenue$3,358,955 $2,165,217 55%$9,205,671 $4,327,116 113% Physician fees (1,086,731) (494,340)120% (2,812,916) (1,677,598)68% Cost of goods sold (857,573) (671,929)28% (2,552,531) (671,929)280% Gross profit (1) 1,414,651 998,948 42% 3,840,224 1,977,589 94% Gross profit % 42.1% 46.1% 41.7% 45.7% Expenses 4,094,284 1,752,735 134% 10,561,582 4,924,384 114% Loss before other items (2,679,633) (753,787)255% (6,721,358) (2,946,795)128% Other items and taxes (44,440) (55,888)-20% (393,826) (296,725)33% Net and comprehensive loss (2,724,073) (809,675)236% (7,115,184) (3,243,520)119% Loss per share, basic and diluted$(0.02)$(0.01)100%$(0.02)$(0.05)-66% (1) Gross profit is a non-GAAP measure as described in the Non-GAAP Financial Measures section of this News Release. Three months ended Nine months ended September 30, September 30, 2020 2019 (%) 2020 2019 (%) Net loss for the period$(2,724,073)$ (809,675)236%$(7,115,184)$(3,243,520)119% Add: Interest and accretion expense 63,001 49,841 26% 189,557 152,555 24% Income taxes 18,964 - 100% 18,964 - 100% Depreciation and amortization 262,128 134,373 95% 673,468 249,305 170% EBITDA(1) for the period (2,379,980) (625,461)281% (6,233,195) (2,841,660)119% Stock-based compensation 558,603 459,934 21% 1,507,930 1,225,841 23% Financing-related costs 245,123 - 100% 504,637 - 100% Acquisition-related costs 191,380 29,083 558% 308,899 108,093 186% Litigation costs and loss provision 63,154 482 12992% 466,632 20,932 2129% Loss from discontinued operations - - 0% - (22,967)-100% Adjusted EBITDA(1) for the period$(1,321,720)$(135,962)872%$(3,445,097)$(1,509,761)128% (1) EBITDA and Adjusted EBITDA are non-GAAP measures as described in the Non-GAAP Financial Measures section of this News Release. The calculation of Adjusted EBITDA has been amended this quarter to exclude financing-related costs, acquisition-related costs, litigation costs and loss provision, which are not operational in nature. Financial Statements and Management’s Discussion and AnalysisThis news release should be read in conjunction with the Company’s condensed interim consolidated financial statements and related notes, and management’s discussion and analysis for the three and nine months ended September 30, 2020 and 2019, copies of which can be found at www.sedar.com.Non-GAAP Financial MeasuresIn addition to the results reported in accordance with IFRS, the Company uses various non-GAAP financial measures, which are not recognized under IFRS, as supplemental indicators of the Company’s operating performance and financial position. These non-GAAP financial measures are provided to enhance the user’s understanding of the Company’s historical and current financial performance and its prospects for the future. Management believes that these measures provide useful information in that they exclude amounts that are not indicative of the Company’s core operating results and ongoing operations and provide a more consistent basis for comparison between quarters and years. Details of such non-GAAP financial measures and how they are derived are provided below as well as in conjunction with the discussion of the financial information reported.Since non-GAAP financial measures do not have any standardized meanings prescribed by IFRS, other companies may calculate these non-IFRS measures differently and our non-GAAP financial measures may not be comparable to similar titled measures of other companies. Accordingly, investors are cautioned not to place undue reliance on them and are also urged to read all IFRS accounting disclosures presented in the unaudited condensed interim consolidated financial statements and the accompanying notes for the three and nine months ended September 30, 2020 and 2019, and the consolidated financial statements and the accompanying notes for years ended December 31, 2019 and 2018.EBITDA EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. EBITDA referenced herein relates to earnings before interest, taxes, depreciation and amortization. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the cash operating income (loss) of the business. Please refer to section on EBITDA for reconciliation.Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Adjusted EBITDA referenced herein relates to earnings before interest, taxes, depreciation, amortization, stock-based compensation, financing-related costs, acquisition-related costs, litigation costs and loss provision, and loss from discontinued operations. This measure does not have a comparable IFRS measure and is used by the Company to evaluate its cash operating income (loss) of the business, adjusted for factors that are unusual in nature or factors that are not indicative of the operating performance of the Company. Please refer to section on Adjusted EBITDA for reconciliation.Gross Profit Gross Profit is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Gross Profit referenced herein relates to revenues less physician fees and cost of goods sold. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the operating performance of the business.About CloudMD Software & ServicesCloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America.ON BEHALF OF THE BOARD OF DIRECTORS “Dr. Essam Hamza, MD" Chief Executive OfficerFOR ADDITIONAL INFORMATION CONTACT:Julia Becker VP, Investor Relations julia@Cloudmd.caForward Looking StatementsThis news release contains forward-looking statements that are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans. Although CloudMD believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
ATHENS, Greece, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today the extension of the charter of its container vessels M/V “EM Astoria” and new time charter contracts for its container vessels M/V “Evridiki G” and M/V “Aegean Express”. Specifically: * M/V “EM Astoria”, a 2,778 teu vessel built in 2004, was extended for a period of between twelve and fourteen months in charterers’ option, at a daily rate of $18,650. The new rate will commence on December 15, 2020. * M/V “Evridiki G”, a 2,556 teu vessel built in 2001, entered into a new time charter contract for a period of between twelve and thirteen months in charterers’ option, at a daily rate of $15,500. The new rate will commence around December 5, 2020. * M/V “Aegean Express”, a 1,439 teu vessel built in 1997, entered into a new time charter contract for a period of between fifteen and sixteen months in charterers’ option, at a daily rate of $11,500. The new charter will commence on December 27, 2020. Furthermore, the Company announced that COLBY TRADING LTD (“Colby”), an affiliate of Euroseas’ CEO, elected to convert into shares of common stock the outstanding amount of a loan it provided to the Company on September 30, 2019; the conversion price was the lowest closing price over the fifteen business days prior to the conversion notice as per the terms of the loan. As result of the conversion, Euroseas issued 702,247 shares to Colby for the outstanding loan amount of $1.875 million.Aristides Pittas, Chairman and CEO of Euroseas commented: “We are very pleased to announce the new charter arrangements for three of our vessels providing employment for longer than a year period for each of them. The three vessels are expected to make EBITDA contribution of about $7.5 million during 2021 under their new charters which would be more than four times their EBITDA contribution during the last twelve months.“Both the rate of the charters – which is near the highest levels of the last ten years – and the duration of the contracts are indicative of the strength of the market during the recent months. If the present market levels continue and we are able to renew or replace the charters of the remaining of our vessels, as they expire, at similar levels, we should see a significant contribution to our earnings and profitability.“While risks - both geopolitical and economic - abound, we are optimistic that the demand-supply balance in the containership market over the next couple of years will be supportive of strong charter rates. Our optimism is based on the fact that a very low fleet orderbook, the lowest in more than 20 years in percentage terms, is combined with increased expectations for control of the COVID-19 pandemic, economic recovery and healthy growth of containerized trade. The recent conversion of a loan from an affiliate of our main shareholders into equity is representative of the increased confidence in the prospects of the market and our company.”About Euroseas Ltd. Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. Euroseas operates in the container shipping market. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. The Company has a fleet of 14 vessels, including 9 Feeder containerships and 5 Intermediate Container carriers. Euroseas 14 containerships have a cargo capacity of 42,281 teu.Forward Looking Statement This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Visit our website www.euroseas.grCompany ContactInvestor Relations / Financial Media Tasos Aslidis Chief Financial Officer Euroseas Ltd. 11 Canterbury Lane, Watchung, NJ 07069 Tel. (908) 301-9091 E-mail: firstname.lastname@example.orgNicolas Bornozis President Capital Link, Inc. 230 Park Avenue, Suite 1536 New York, NY 10169 Tel. (212) 661-7566 E-mail: email@example.com
Arena Pharmaceuticals announces the appointment of Paul D. Streck, M.D., as Senior Vice President, Clinical Development and Chief Medical Officer.
Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, today announced that Antonio Pietri, President and Chief Executive Officer, will present at the virtual Nasdaq Investor Conference. The presentation is scheduled for Tuesday, December 1, 2020 at 7:30 a.m. ET.
The Korea Fund, Inc. (the "Fund") (NYSE: KF), a non-diversified, closed-end investment company, which seeks long-term capital appreciation through investment in securities, primarily equity securities of Korean companies, today announced its results for the fiscal quarter ended September 30, 2020.
fuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform, has appointed product veteran Mike Berkley to the role of chief product officer (CPO). Berkley joins the company effective immediately and reports directly to CEO David Gandler.
BOSTON and JERUSALEM, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Entera Bio Ltd. (NASDAQ: ENTX), a leader in the development of orally delivered large molecule therapeutics, announced today that its Board of Directors has appointed Spiros Jamas, Sc.D. to the role of Chief Executive Officer and a member of the Board of Directors effective January 4, 2021. Dr. Jamas will succeed Dr. Roger Garceau, who has been serving as interim CEO since August 2020. Dr. Garceau will continue to serve as a Director of Entera Bio. “This is an incredibly exciting time to join the talented team at Entera, with several near-term catalysts including multiple data readouts from the ongoing Phase 2 clinical trial of EB613 as well as numerous potential business development opportunities for our platform technology,” said Dr. Jamas. “I look forward to working with the team at Entera to advance the EB613 osteoporosis development program toward a potential pivotal Phase 3 clinical trial and to progress our pipeline, including the selection of a formulation of EB612 for the treatment of hypoparathyroidism. With several important data readouts for the Company over the coming months, including the final Phase 2 data from the EB613 Phase 2 trial in the first half of 2021, I believe there is a significant opportunity to create value for Entera’s shareholders and build a sustainable biopharmaceutical company,” continued Dr. Jamas.Spiros Jamas is a biotech entrepreneur with over 30 years of senior management experience in the biopharmaceutical industry. He has served as CEO and/or founder of multiple high growth, innovation-driven companies including: AOBiome Therapeutics, Inc., Tempero Pharmaceuticals, Inc., Enanta Pharmaceuticals, Inc. and Alpha-Beta Technology, Inc. He has assembled high-performance teams to grow these organizations and led first-in-class R&D programs from early discovery through Investigative New Drug Application (IND) submissions and into advanced clinical development. As founding CEO of AOBiome, he created a leading skin microbiome company that launched the breakthrough skin probiotic AO+ Mist and Mother Dirt Consumer Brand and led the effort to file six IND’s. At Enanta he led the initiation of the Hepatitis C drug development program. Over the course of his career, Dr. Jamas has raised over $300 million in funding from a variety of sources including public and private equity and debt. In addition to his significant experience in building biopharma companies, Dr. Jamas was the Global Healthcare Analyst in the Global Fundamental Strategies group at State Street Global Advisors, the world’s second largest asset management firm. Dr. Jamas obtained a Doctor of Science in Biotechnology from M.I.T. in 1987, a M.Sc. also from M.I.T. in 1983 and a B.Sc. in Chemical Engineering from UMIST, England. He is an author and co-inventor on numerous papers and patents.“On behalf of the Board, I would like to thank Roger for his leadership during the CEO search and am excited that Spiros will be joining us as our CEO and a member of the board of directors. Spiros’ background, including his experience with drug development and strategy makes him uniquely qualified to lead the Company at this exciting time. With EB613 Phase 2 data on the horizon and a clear unmet need for oral therapies that may offer osteoporosis patients a more convenient, needle free alternative to the current injectable products currently available, this is a very exciting time for the Company,” stated Gerald Lieberman, Entera’s Chairman of the Board. The terms of Dr. Jamas’ engagement are subject to the approval of the company's shareholders.About Entera BioEntera is a leader in the development of orally delivered large molecule therapeutics for use in areas with significant unmet medical need where adoption of injectable therapies is limited due to cost, convenience and compliance challenges for patients. The Company’s proprietary, oral drug delivery technology is designed to address the technical challenges of poor absorption, high variability, and the inability to deliver large molecules to the targeted location in the body through the use of a synthetic absorption enhancer to facilitate the absorption of large molecules, and protease inhibitors to prevent enzymatic degradation and support delivery to targeted tissues. The Company’s most advanced product candidates, EB613 for the treatment of osteoporosis and EB612 for the treatment of hypoparathyroidism are in Phase 2 clinical development. Entera also licenses its technology to biopharmaceutical companies for use with their proprietary compounds and, to date, has established a collaboration with Amgen Inc. For more information on Entera Bio, visit www.enterabio.com.Forward Looking StatementsVarious statements in this release are “forward-looking statements” under the securities laws. Words such as, but not limited to, “anticipate,” “believe,” “can,” “could,” “expect,” “estimate,” “design,” “goal,” “intend,” “may,” “might,” “objective,” “plan,” “predict,” “project,” “target,” “likely,” “should,” “will,” and “would,” or the negative of these terms and similar expressions or words, identify forward-looking statements. Forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved.Important factors that could cause actual results to differ materially from those reflected in Entera’s forward-looking statements include, among others: changes in our interpretation of the interim data from the ongoing Phase 2 clinical trial of EB613, the timing of data readouts from the ongoing Phase 2 clinical trial of EB613, unexpected changes in our ongoing and planned preclinical development and clinical trials, the timing of and our ability to make regulatory filings and obtain and maintain regulatory approvals for our product candidates; a possible suspension of the Phase 2 clinical trial of EB613 for clinical or data-related reasons; the impact of COVID-19 on Entera’s business operations including the ability to collect the necessary data from the Phase 2 trial of EB613; the potential disruption and delay of manufacturing supply chains, loss of available workforce resources, either by Entera or its collaboration and laboratory partners, due to travel restrictions, lay-offs or forced closures or repurposing of hospital facilities; impacts to research and development or clinical activities that Entera is contractually obligated to provide, such as pursuant to Entera’s agreement with Amgen; overall regulatory timelines, if the FDA or other authorities are closed for prolonged periods, choose to allocate resources to review of COVID-19 related drugs or believe that the amount of Phase 2 clinical data collected are insufficient to initiate a Phase 3 trial, or a meaningful deterioration of the current political, legal and regulatory situation in Israel or the United States; the availability, quality and timing of the data from the Phase 2 clinical trial of EB613 in osteoporosis patients; the ability find a dose that demonstrates the comparability of EB613 to FORTEO in the ongoing Phase 2 clinical trial of EB613; the size and growth of the potential market for EB613 and Entera’s other product candidates including any possible expansion of the market if an orally delivered option is available in addition to an injectable formulation; the scope, progress and costs of developing Entera’s product candidates; Entera’s reliance on third parties to conduct its clinical trials; Entera’s expectations regarding licensing, business transactions and strategic collaborations; Entera’s operation as a development stage company with limited operating history; Entera’s ability to continue as a going concern absent access to sources of liquidity; Entera’s expectations regarding its expenses, revenue, cash resources, including the amount of cash and cash equivalents as of September 30, 2020 referenced above, which has not been audited or reviewed by Entera’s independent registered public accounting firm and should be viewed in the context of all other available information regarding Entera’s results of operations, liquidity and financial condition; Entera’s ability to raise additional capital; Entera’s interpretation of FDA feedback and guidance and how such guidance may impact its clinical development plans; Entera’s ability to obtain and maintain regulatory approval for any of its product candidates; Entera’s ability to comply with Nasdaq’s minimum listing standards and other matters related to compliance with the requirements of being a public company in the United States; Entera’s intellectual property position and its ability to protect its intellectual property; and other factors that are described in the “Special Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Entera’s annual and current filings which are on file with the SEC and available free of charge on the SEC’s website at http://www.sec.gov. Additional factors may be set forth in those sections of Entera’s Quarterly Report on Form 6-K for the quarter ended September 30, 2020, filed with the SEC in the fourth quarter of 2020. In addition to the risks described above and in Entera’s annual report on Form 20-F and current reports on Form 6-K and other filings with the SEC, other unknown or unpredictable factors also could affect Entera’s results. There can be no assurance that the actual results or developments anticipated by Entera will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Entera. Therefore, no assurance can be given that the outcomes stated in such forward-looking statements and estimates will be achieved.All written and verbal forward-looking statements attributable to Entera or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Entera cautions investors not to rely too heavily on the forward-looking statements Entera makes or that are made on its behalf. The information in this release is provided only as of the date of this release, and Entera undertakes no obligation, and specifically declines any obligation, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. CONTACT: Contact: Jonathan Lieber, CFO Tel: +972-2-532-7151 firstname.lastname@example.org