NSF Science Now: Episode 65

The National Science Foundation: Creating knowledge to transform our future

California Jerry Brown will sign a bill to expand California's film and television tax credit program into law in Hollywood; Credit: Justin Sullivan/Getty Images

A moment Hollywood's been waiting a while for will take place... in Hollywood. 

A ceremony is planned for Thursday morning at the Chinese Theater where Governor Jerry Brown will sign the "California Film and Television Job Retention and Promotion Act" into law.

The bill - also known  as AB 1839 — will more than triple the funding for California's film and television production tax credit program. 

The push to expand and enhance the tax credit program has been going on for more than a year. In August of 2013, Los Angeles Mayor Eric Garcetti used the term "state of emergency" to characterize the flight of film and television production to other states and countries. Garcetti is expected to speak at the ceremony. 

Los Angeles-area Assemblymen Mike Gatto and Raul Bocanegra are also expected to be on hand. They introduced AB 1839 in February and moved it strategically through the legislature in Sacramento. While there were few vocal opponents of expanding the tax credit program, the big question was by how much. Many supporters hoped to see the annual pot raised from the current $100 million to at least $400 million, but an exact dollar amount wasn't specified until very late in the legislative process.

In April, the state Legislative Analyst's Office released its hard look at the current tax credit program, pointing out that the state is only getting back 65 cents in tax revenues for every dollar it’s spending on the film and TV subsidy.  The bill to expand the program kept moving.

California's magic number turned out to be $330 million dollars, not as high as chief rival New York State's $420 million per year, but still more than triple California's current offering. Along with the extra cash, AB 1839 also changes the way the tax credit program will be administered.   Rather than using a one-day lottery to determine which productions receive the credit, the state will measure the projects based on their potential to create jobs.   A project that overestimates that potential could be penalized.  

Last year was the second straight year the poverty rate stayed flat after four years of going up in the United States.; Credit: David McNew/Getty Images

Income in greater Los Angeles is rising – slightly - according to new American Community Survey numbers released Thursday from the Census Bureau, but greater L.A. still ranks as one of the poorest major metropolitan areas in the nation.

The L.A. area (defined as L.A., Long Beach and Anaheim) had a median household income of $58,869 last year, which is $804 more than the year before, but still $1540 under the 2010 level, during the first full year after the recession.

"These numbers paint a bleak picture for California,” said Marybeth Mattingly, a researcher at Stanford University’s Center on Poverty and Inequality.

Mattingly is particularly troubled by the child poverty rate, which was 25.3 percent in 2013, up from 22.6 percent in 2010.

“In the West, Hispanics have the highest poverty with nearly one in three Hispanic kids poor, and it's even a little higher for blacks” she said.

Nationally, last year was the second straight year the poverty rate stayed flat after four years of going up. Among big metro areas, the L.A. area had the highest poverty rate in the nation, tying Phoenix, Miami, and the Inland Empire. But that’s based upon a national poverty line of $23,550 for a family of four; When you take into account how much it really costs to live here, L.A. fares even worse.

“We find that Los Angeles stands out even more, unfortunately," said Sarah Bohn, a researcher at the Public Policy Institute of California. "Housing costs are really playing a big role in family budgets and being able to make ends meet.”

Bohn says these new numbers suggest we’re going in the right direction, but she wishes we’d move at a faster pace.

NFL Commissioner Roger Goodell talks during a press conference at the Hilton Hotel on Sept. 19, 2014 in New York City. Goodell spoke about the NFL's failure to address domestic violence, sexual assault and drug abuse in the league.; Credit: Elsa/Getty Images

Update 1:04 p.m. Goodell: 'Same mistakes can never be repeated'

Commissioner Roger Goodell says the NFL wants to implement new personal conduct policies by the Super Bowl. At a news conference Friday, Goodell made his first public statements in more than a week about the rash of NFL players involved in domestic violence. He did not announce any specific changes, but said he has not considered resigning.

"Unfortunately, over the past several weeks, we have seen all too much of the NFL doing wrong," he said. "That starts with me."

The league has faced increasing criticism that it has not acted quickly or emphatically enough concerning the domestic abuse cases.

The commissioner reiterated that he botched the handling of the Ray Rice case.

"The same mistakes can never be repeated," he said.

Goodell now oversees all personal conduct cases, deciding guilt and penalties.

He said he believes he has the support of the NFL's owners, his bosses.

"That has been clear to me," he said.

The Indianapolis Colts' Darius Butler was among those who tweeted criticism of the press conference:

Colts tweet 1

Colts tweet 2

The commissioner and some NFL teams have been heavily criticized for lenient or delayed punishment of Rice, Adrian Peterson and other players involved in recent domestic violence cases. Less than three weeks into the season, five such cases have made headlines, the others involving Greg Hardy, Ray McDonald and Jonathan Dwyer.

Vikings star running back Peterson, Carolina defensive end Hardy and Arizona running back Dwyer are on a special commissioner's exemption list and are being paid while they go through the legal process. McDonald, a defensive end for San Francisco, continues to practice and play while being investigated on suspicion of domestic violence.

As these cases have come to light, such groups as the National Organization of Women and league partners and sponsors have come down hard on the NFL to be more responsive in dealing with them. Congress also is watching to see how the NFL reacts.

In response to the criticism, the NFL announced it is partnering with a domestic violence hotline and a sexual violence resource center.

Goodell also said in a memo to the clubs late Thursday that within the next 30 days, all NFL and team personnel will participate in education sessions on domestic violence and sexual assault. The memo said the league will work with the union in providing the "information and tools to understand and recognize domestic violence and sexual assault."

The league will provide financial, operational and promotional support to the National Domestic Violence Hotline and the National Sexual Violence Resource Center.

12:07 p.m. Roger Goodell to break silence on domestic abuse and the NFL

Roger Goodell will make his first public statements in more than a week about the rash of NFL players involved in domestic violence when he holds a news conference Friday.

The NFL commissioner will address the league's personal conduct policy. The league has faced increasing criticism it has not acted quickly or emphatically enough concerning the domestic abuse cases.

His last public appearance was at a high school in North Carolina on Sept. 10.

The commissioner and some NFL teams have been heavily criticized for lenient or delayed punishment of Ray Rice, Adrian Peterson and other players involved in recent domestic violence cases. Less than three weeks into the season, five such cases have made headlines, the others involving Greg Hardy, Ray McDonald and Jonathan Dwyer.

Vikings star running back Peterson, Carolina defensive end Hardy and Arizona running back Dwyer are on a special commissioner's exemption list and are being paid while they go through the legal process. McDonald, a defensive end for San Francisco, continues to practice and play while being investigated on suspicion of domestic violence.

As these cases have come to light, such groups as the National Organization of Women and league partners and sponsors have come down hard on the NFL to be more responsive in dealing with them. Congress also is watching to see how the NFL reacts.

In response to the criticism, the NFL announced it is partnering with a domestic violence hotline and a sexual violence resource center.

Goodell also said in a memo to the clubs late Thursday that within the next 30 days, all NFL and team personnel will participate in education sessions on domestic violence and sexual assault. The memo said the league will work with the union in providing the "information and tools to understand and recognize domestic violence and sexual assault."

The league will provide financial, operational and promotional support to the National Domestic Violence Hotline and the National Sexual Violence Resource Center.

"These commitments will enable both the hotline and NSVRC to help more people affected by domestic violence and sexual assault," Goodell said in the memo.

The National Domestic Violence Hotline provides domestic violence victims and survivors access to a national network of resources and shelters. It is available 24 hours a day, seven days a week in 170 languages. Goodell noted that the hotline received 84 percent more calls from Sept. 8-15, and the organization said more than 50 percent of those calls went unanswered because of lack of staff.

"The hotline will add 25 full-time advocates over the next few weeks that will result in an additional 750 calls a day being answered," he said.

NSVRC supports sexual violence coalitions across the United States. The NFL's initial support will be directed toward state coalitions to provide additional resources to sexual assault hotlines.

This story has been updated.

Emily Quinn speaks from the TED stage at TEDWomen 2018; Credit: /TED

Part 1 of the TED Radio Hour episode The Biology Of Sex

Artist Emily Quinn is intersex. She's one of over 150 million people in the world who don't fit neatly into the categories of male or female. She explains how biological sex exists on a spectrum.

About Emily Quinn

Emily Quinn is an artist and activist. She worked at Cartoon Network on the Emmy Award winning show, Adventure Time. While there she partnered with interACT and MTV to develop the first intersex main character in television history. She came out publicly as intersex in a PSA alongside the character's debut. She later worked as the Youth Coordinator for interACT: Advocates for Intersex Youth.

As an activist, she speaks about intersex issues before audiences and through her YouTube channel: intersexperiences. As an artist, her most recent projects include a genderless puberty guidebook and a portrait series of intersex people that will be exhibited at medical schools across the U.S. in 2020.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Vehicles sit in a near empty parking lot outside the Tyson Foods plant in Waterloo, Iowa, on May 1.; Credit: Charlie Neibergall/AP

A meat-packing plant in Waterloo, Iowa, where a coronavirus outbreak exploded a few weeks ago, resumed operations on Thursday after a two-week closure.

The reopening of Tyson Foods' largest U.S. pork plant came the same day that health officials in Black Hawk County, where the plant is located, announced that 1,031 of the plant's estimated 2,800 employees have tested positive for the virus. That's higher than previous estimates by state officials.

Tony Thompson, sheriff of Black Hawk County, was among the public officials who called for the Waterloo facility to shut down temporarily. His call to close the plant came after he first toured the facility on April 10.

Thompson says that when he toured the plant then, he "fully expected" to see barriers, masks and other personal protective equipment in place. That wasn't the case.

"What I saw when we went into that plant was an absolute free-for-all," he says. "Some people were wearing bandannas. Some people were wearing surgical masks. .... Most people weren't wearing anything. People working on the line were working elbow to elbow, sometimes reaching over each other, processing the meat that was coming down the line.

"There was absolutely no opportunity for social distancing," he says. "We left the plant thinking, 'oh, my gosh, we've got a huge problem here.'"

Health officials say 90% of the cases of coronavirus in the county are linked to the Tyson facility.

During the closure, Tyson installed clear plastic mats to divide workstations and hand sanitizing stations. The plant has also instituted temperature checks and provides workers with surgical masks when they arrive and when they leave.

After touring the facility last week, Thompson is in cautious support of the reopening, saying he feels "reserved encouragement" after seeing the new safety measures.

If, however, the outbreak continues at this facility, Thompson says he would support a second shutdown.

Thompson's primary focus is on the safety and security of the roughly 131,000 citizens of Black Hawk County — and he says he feels especially responsible for the Tyson workers.

"We like our bacon, but we don't want to think about how it's actually done. When you got a carcass hanging there, bleeding on the floor, you don't want to think about that ... a byproduct of that is the people that actually do that work," he says.

"Unfortunately, these are oftentimes marginalized citizens because they are refugees, because they don't speak English, because they do a job that not many people want to do," he continues. "So there's something inherent there that was not right that I hope that they have corrected. And I'll hold my breath and pray that that is true. If it's not, we'll back up, regroup and go at this again."

Listen to the full interview with NPR's Ailsa Chang at the audio link above.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Birth control pills in 1976 in New York. The birth control pill was approved by the FDA 60 years ago this week.; Credit: /Bettmann/Getty Images

Updated at 9:44 a.m. ET

As a young woman growing up in a poor farming community in Virginia in the 1940 and '50s, with little information about sex or contraception, sexuality was a frightening thing for Carole Cato and her female friends.

"We lived in constant fear, I mean all of us," she said. "It was like a tightrope. always wondering, is this going to be the time [I get pregnant]?"

Cato, 78, now lives in Columbia, S.C. She grew up in the years before the birth control pill was approved by the U.S. Food and Drug Administration, on May 9, 1960. She said teenage girls in her community were told very little about how their bodies worked.

"I was very fortunate; I did not get pregnant, but a lot of my friends did. And of course, they just got married and went into their little farmhouses," she said. "But I just felt I just had to get out."

At 23, Cato married a widower who already had seven children. They decided seven was enough.

By that time, Cato said, the pill allowed the couple to avoid having more babies — and she eventually was able to go on to college.

"It was just like going from night to day, as far as the freedom of it," Cato said. "And to know that I had control, that I had choice, that I controlled my body. It gave me a whole new lease on life."

Loretta Ross, an activist and visiting women's studies professor at Smith College, was among the first generation of young women to have access to the birth control pill throughout their reproductive years.

Ross, now 66, said by the time she came of age around 1970, the pill was giving young women more control over their fertility than previous generations had enjoyed.

"We could talk about having sex – not without consequences, because there were still STDS ... but at the same time, with more freedom than our foremothers had," Ross said. "So it changed the world."

For all it's done for women, Ross said that the pill has a complex and controversial history; it was first tested on low-income women in Puerto Rico. Ross said the pill also has limitations; she'd like to see it made available over the counter, as it is in some countries – not to mention, a pill for men.

When the pill was approved in 1960, women had few relatively few contraceptive options, and the pill offered more reliability and convenience than methods like condoms or diaphragms, said Dr. Eve Espey, chair of the Department of Ob/Gyn and Family Planning at the University of New Mexico.

"There was a huge, pent-up desire for a truly effective form of contraception, which had been lacking up to that point," Espey said.

By 1965, she said, 40% of young married women were on the pill.

For Pat Fishback, now 80 and living in Richmond, Va., the newly-available pill allowed her to delay having children in her early 20s until she'd been married for a couple of years.

"It also made having children a positive experience," Fishback said. "Because we had actually, emotionally and intellectually, gotten to the point where we really desired to have children."

It took a bit longer for unmarried women to gain widespread access to the pill and other forms of contraception: Linda Gordon, 80, a historian at New York University, remembers the stigma around single women and contraception at the time.

"When I was in college, a number of women had a wedding ring – a gold ring –that we would pass around and use when we wanted to go see a doctor to get fitted for a diaphragm," Gordon said. "In other words, there were people finding their way to do that, even then."

The pill also gave rise to a variety of other forms of hormonal contraception, many of which are popular today, Gordon said. According to the Centers for Disease Control and Prevention, nearly 13% of American women of reproductive age use the pill — making it the second most popular form of contraception, after female sterilization.

Gordon said that 60 years after the pill's approval, contraception remains a contentious political issue.

Just this week, the U.S. Supreme Court heard arguments in a case involving the birth control mandate in the Affordable Care Act. A decision on whether some institutions with religious or moral objections can deny contraceptive coverage to their employees is expected in the months to come.

This content is from Southern California Public Radio. View the original story at SCPR.org.

The technical update on the asset, which Wheaton Precious Metals owns a production stream on, is explored in a CIBC report.

For the first time, Uber will guarantee drivers an hourly wage of $20 an hour in Los Angeles, or $26 during peak times.; Credit: David Ramos/Getty Images

To keep demand high during the slower winter months, the ridesharing service, Uber, has cut fares by 20 percent in 48 markets – including Los Angeles and Orange County.

The company says a trip from West Hollywood to downtown will now be around nine dollars, instead of $11.

When Uber lowered prices in the past to muscle out competitors like Lyft and taxi services, passengers loved it but drivers have complained it puts an unfair squeeze on them, complaining their already low take went even lower.

Uber stresses the fact cutting fares actually helps drivers because they get more business. In a blog post, the company points to data from Chicago where fares dropped 23 percent last month compared to December 2013 while drivers' income increased by 12 percent.

But drivers have been skeptical whether volume can make up for the price drop. The company's claim that New York city drivers earn a median of $90,766 a year has been refuted. Slate talked to New York UberX driver Jesus Garay in October:

“They say it doesn’t hurt the pocket of the drivers,” Garay says of the 20 percent fare cuts. “It does. Because it’s impossible with those numbers to be in business.”

The way drivers see it, ride volume can only increase so much in response to lower prices. Garay says that on average, a ride takes him 20 minutes from start to finish: five minutes to reach the pickup location, five to wait for the customer, and 10 to drive to the destination. For a trip of that length, Garay says he’ll make $10 or $11. “So if you’re busy, you’re going to make three rides in an hour,” he explains. 

Newly flush with a $40 billion valuation, Uber is now willing to put its money where its mouth is; For the first time, Uber will guarantee its partners – as it calls them -  an hourly wage of $20 an hour in Los Angeles, or $26 during peak times. (The guarantee comes with a few conditions: Drivers have to accept 90% of trips, average at least one trip per hour, and be online for 50 minutes of every hour worked)

This content is from Southern California Public Radio. View the original story at SCPR.org.

(Stock photo); Credit: Meathead Movers/flickr Creative Commons

As of today, KPCC is moving Breakdown coverage to our main business page, where you will find KPCC’s ongoing news and information about Southern California business and the economy.

As a result, the Breakdown blog will no longer be updated. All previous Breakdown posts will remain available here as an archive.

Please let us know if there are issues you feel merit coverage. You can comment below, by email, on our Facebook page or on our Twitter feed (just "@" mention @KPCC).

This content is from Southern California Public Radio. View the original story at SCPR.org.

Full Text:

On August 17, 2017, scientists made history with the first direct observation of a merger between two neutron stars. It was the first cosmic event detected in both gravitational waves and the entire spectrum of light, from gamma rays to radio emissions. The impact also created a kilonova -- a turbocharged explosion that instantly forged several hundred planets’ worth of gold and platinum. The observations provided the first compelling evidence that kilonovae produce large quantities of heavy metals, a finding long predicted by theory. Astronomers suspect that all of the gold and platinum on Earth formed as a result of ancient kilonovae created during neutron star collisions. Based on data from the 2017 event, first spotted by the Laser Interferometer Gravitational-wave Observatory (LIGO), astronomers began to adjust their assumptions of how a kilonova should appear to Earth-bound observers. A team of scientists reexamined data from a gamma-ray burst spotted in August 2016 and found new evidence for a kilonova that went unnoticed during the initial observations.

Image credit: NASA/ESA/E. Troja

NSF Science Now: Episode 65

The National Science Foundation: Creating knowledge to transform our future

Updates for the critical-rated vulnerabilities, which are being actively exploited in the wild, are still weeks away

The post Microsoft warns of two Windows zero‑day flaws appeared first on WeLiveSecurity

The scam machine shows no signs of slowing down, as fraudsters dispense bogus health advice, peddle fake testing kits and issue malware-laced purchase orders

The post Coronavirus con artists continue to spread infections of their own appeared first on WeLiveSecurity

Security is not a game, but learning about it could be – here’s why adding the fun factor can help employees become more cyber-aware

The post How gamification can boost your cybersecurity training appeared first on WeLiveSecurity

ESET researchers discover, and play a key role in the disruption of, a 35,000-strong botnet spreading in Latin America via compromised USB drives

The post Following ESET’s discovery, a Monero mining botnet is disrupted appeared first on WeLiveSecurity

Another in our occasional series demystifying Latin American banking trojans

The post Grandoreiro: How engorged can an EXE get? appeared first on WeLiveSecurity

Scammers rehash old campaigns, create credit card-stealing websites and repurpose information channels to milk the COVID-19 crisis for all it's worth

The post It’s no time to let your guard down as coronavirus fraud remains a threat appeared first on WeLiveSecurity

…and why are they selling it to other security vendors and product testers?

The post Professional data leakage: How did that security vendor get my personal data? appeared first on WeLiveSecurity

Source: Streetwise Reports   04/23/2020

Global healthcare packaging components manufacturer company West Pharmaceutical Services Inc. (WST:NYSE) today announced financial results for its first quarter ending March 31, 2020 and provided updated full-year 2020 financial guidance.

The company reported that net sales in Q1/20 increased to $491.5 million, a 10.8% increase from $443.5 million in Q1/19. During the same corresponding period, the firm stated that non-GAAP diluted earnings per share (EPS) increased by 36% to $0.99 and non-GAAP adjusted-diluted EPS increased by 36% to $1.01.

West Pharmaceutical Services advised that it is maintaining its FY/20 net sales guidance, which is expected to be in a range of $1.95-1.97 billion. The company stated that it is updating FY/20 adjusted-diluted EPS guidance to a new range of $3.52-3.62, compared to the prior estimated range of $3.45-3.55.

The company's President and CEO Eric M. Green commented, "During these unprecedented times, our priorities are focused on the well-being and safety of our team members as well as ensuring the supply of critical, high-quality components and solutions to our customers...I am extremely pleased that we delivered a strong performance in the first quarter given the challenging environment that the COVID-19 pandemic has had on our customers, our suppliers and our team members. In particular, we continued to deliver strong sales growth in high-value products, as demand trends from our worldwide customer base were similar to trends we saw last year. Our teams are partnering with a broad range of customers working to support efforts to develop solutions that address the global COVID-19 pandemic such as diagnostics, anti-viral therapeutics and vaccines."

The firm outlined sales in the most recent quarter by product line. The company reported that in Q1/20, net sales in its Proprietary Products segment grew by 9.7% to $373.5 million and that this segment "saw good demand for Westar^®, Daikyo^®, NovaPure^® and FluroTec^® components as well as for devices such as Daikyo Crystal Zenith^® syringes and cartridges and our self-injection platforms."

The firm noted that net sales from its Contract-Manufactured Products segment grew by 14.5% to $118.1 million led by sales of components for diagnostic devices and drug-injection delivery devices.

The company added that the Biologics market unit enjoyed double-digit organic sales growth, the Generics market unit achieved high-single digit organic sales growth and the Pharma market unit registered mid-single digit organic sales growth.

The firm additionally noted that during Q1/20 under its share repurchase program, it repurchased 761,500 shares for $115.5 million at an average share price of $151.65.

West Pharmaceutical Services is headquartered in Exton, Pa., roughly 35 miles west of Philadelphia, and is a designer and manufacturer of injectable pharmaceutical packaging and delivery systems.

West Pharmaceutical has market capitalization of around $13.5 billion with approximately 73.84 million shares outstanding. WST shares opened 5.25% higher today at $179.05 (+$8.93, +5.25%) over yesterday's $170.12 closing price and reached a new 52-week high price this morning of $190.27. The stock has traded today between $177.13 and $190.27 per share and is currently trading at $187.04 (+$17.17, +10.11%).

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

( Companies Mentioned: WST:NYSE, )

Source: Streetwise Reports   05/01/2020

Seattle Genetics Inc. (SGEN:NASDAQ) yesterday announced financial results for the first quarter ended March 31, 2020.

The company also provided an update on commercial results achieved in the quarter for its lead medicines including ADCETRIS® (brentuximab vedotin) and PADCEV^™ (enfortumab vedotin-ejfv) and the U.S. Food and Drug Administration's (FDA) approval and launch of TUKYSA^™ (tucatinib).

The company's President and CEO Clay Siegall, Ph.D., commented, "We have had a remarkable start to 2020, delivering record product sales in the first quarter that are now coming from both ADCETRIS and PADCEV. Notably, strong PADCEV sales in the first full quarter of launch reflect the unmet need among patients with metastatic bladder cancer...With the recent approval of TUKYSA for patients with metastatic HER2-positive breast cancer, we have now launched our third product just four months after our second...We are also preparing for European commercial operations and have hired general managers in major European markets ahead of potential ex-U.S. approvals of TUKYSA. With two new products, growing revenues, and an advancing pipeline of novel cancer programs, we have exciting prospects for future growth."

The company highlighted that ADCETRIS net sales in the U.S. and Canada increased by 22% to $164.1 million in Q1/20, compared to $135 million in Q1/19. The firm indicated that PADCEV net sales in the U.S. reached $34.5 million in Q1/20, which was its first full quarter of commercialization. The company added that royalty revenues in Q1/20 were $20.4 million and collaboration and license agreement revenues in Q1/20 totaled $15.6 million.

The firm reported a net loss for Q1/20 of $168.4 million, or $0.98 per diluted share, compared to net loss of $13.3 million, or $0.08 per diluted share for Q1/19. The company explained that "the net loss in Q1/20 included a net investment loss of $59.1 million primarily associated with its common stock holdings in Immunomedics, which are marked-to-market, compared to a net investment gain of $38.1 million in Q1/19."

The company advised that its TUKYSA was approved by the FDA for patients with HER2-positive metastatic breast cancer who have received one or more prior anti-HER2 regimens in the metastatic setting. The firm mentioned that it also expects to be able to report topline data in late Q2/20 or Q3/20 for the innovaTV 204 pivotal trial of tisotumab vedotin in patients with recurrent and/or metastatic cervical cancer who have relapsed or progressed after standard of care treatment.

The company noted that it is regularly monitoring the effects of the COVID-19 situation and is maintaining its business outlook estimates for FY/20 that it provided previously on February 6, 2020. For FY/20 it expects ADCETRIS net product sales of $675–700 million, royalty revenues of $105–115 million and collaboration and license agreement revenues of $30–50 million. The firm advised that for FY/20 it expects that R&D expenses will range from $860–950 million with SG&A expenses of $475–525 million.

Seattle Genetics is headquartered in Bothell, Wash., and is a global biotechnology company focused on discovering and commercializing cancer medicines.

Seattle Genetics has a market capitalization of around $23.7 billion with approximately 172.5 million shares outstanding. SGEN shares opened 2.75% higher today at $141.00 (+$3.77, +2.75%) over yesterday's $137.23 closing price and reached a new 52-week high price this morning of $157.00. The stock has traded today between $140.05 and $157.00 per share and is currently trading at $148.51 (+$11.28, +8.22%).

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

( Companies Mentioned: SGEN:NASDAQ, )

Source: Streetwise Reports   05/05/2020

Commercial-stage biotechnology company Portola Pharmaceuticals Inc. (PTLA:NASDAQ), which focuses on blood-related disorders, and global biopharmaceuticals firm Alexion Pharmaceuticals Inc. (ALXN:NASDAQ) announced that they have entered into a definitive merger agreement for Portola to be acquired by Alexion.

The acquisition is said to provide a key addition to Alexion's diversified commercial portfolio. The report indicated that the merger agreement has already been unanimously approved each of the company's boards of directors.

The report explained that "Portola's commercialized medicine, Andexxa^® [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya^® in Europe, is the first and only approved Factor Xa inhibitor reversal agent, and has demonstrated transformative clinical value by rapidly reversing the anticoagulant effects of Factor Xa inhibitors rivaroxaban and apixaban in severe and uncontrolled bleeding."

Portola's President and CEO Scott Garland commented, "In developing and launching Andexxa, Portola has established a strong foundation for changing the standard of care for patients receiving Factor Xa inhibitors that experience a major, life-threatening bleed. Andexxa rapidly reverses the pharmacologic effect of rivaroxaban and apixaban within two minutes, reducing anti-Factor Xa activity by 92 percent...Given their enhanced resources, global footprint and proven commercial expertise, we look forward to working with Alexion to maximize the value of Andexxa. With their commitment to commercial excellence, together, we will be able to drive stronger utilization of Andexxa, increase penetration and accelerate adoption in the critical care setting."

Ludwig Hantson, Ph.D., CEO of Alexion, remarked, "The acquisition of Portola represents an important next step in our strategy to diversify beyond C5. Andexxa is a strategic fit with our existing portfolio of transformative medicines and is well-aligned with our demonstrated expertise in hematology, neurology and critical care...We believe Andexxa has the potential to become the global standard of care for patients who experience life-threatening bleeds while taking Factor Xa inhibitors apixaban and rivaroxaban. By leveraging Alexion's strong operational and sales infrastructure and deep relationships in hospital channels, we are well positioned to expand the number of patients helped by Andexxa, while also driving value for shareholders."

The firms advised that "under the terms of the merger agreement, a subsidiary of Alexion will commence a tender offer to acquire all of the outstanding shares of Portola's common stock at a price of $18 per share in cash." Alexion plans to fund the purchase with existing cash on hand and the transaction is expected to close in Q3/20. The purchase is subject to approval by a majority interest of Portola's common stockholders tendering their shares along with ordinary closing conditions and regulatory approvals. The company noted that "following successful completion of the tender offer, Alexion will acquire all remaining shares not tendered in the offer at the same price of $18 per share through a merger."

Alexion is a global biopharmaceutical company based in Boston, Mass., with offices in 50 countries worldwide. The company states that it has been "the global leader in complement biology and inhibition for more than 20 years and that it has developed and commercializes two approved complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, as well as the first and only approved complement inhibitor to treat anti-acetylcholine receptor antibody-positive generalized myasthenia gravis and neuromyelitis optica spectrum disorder."

Portola is headquartered in South San Francisco, Calif., and is a commercial-stage biopharmaceutical company focused on treating patients with serious blood-related disorders. Specifically, the company is engaged in developing and commercializing novel therapeutics in order to advance the fields of thrombosis and other hematologic conditions. The firm listed that its first two commercialized products are Andexxa^® and Bevyxxa^® (betrixaban), and that it is also advancing and developing cerdulatinib, a SYK/JAK inhibitor for use in treatment of hematologic cancers.

Portola Pharmaceuticals started off the day with a market capitalization of around $609.0 million with approximately 78.5 million shares outstanding and a short interest of about 23.0%. PTLA shares opened 130% higher today at $17.85 (+$10.09, +130.03%) over yesterday's $7.85 closing price. The stock has traded today between $17.71 and $17.91 per share and is currently trading at $17.83 (+$10.07, +129.77%).

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