Nabriva Agrees to Extension of Principal Debt Repayments Under Existing Loan Agreement with Hercules Capital - GlobeNewswire

- Principal Repayments Delayed At Least Until January 1, 2022

- Repayment Delay and Recent ATM Activity Extends Cash Runway Substantially Through the First Quarter of 2022

DUBLIN, Ireland and FORT WASHINGTON, Pa., June 03, 2021 (GLOBE NEWSWIRE) -- Nabriva Therapeutics plc (NASDAQ: NBRV), a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections, today announced that it has reached an agreement with Hercules Capital, Inc. (NYSE:HTGC) (“Hercules”) to extend principal payments under its existing loan agreement until at least January 1, 2022. Repayments of outstanding principal amounts under the company’s debt facility with Hercules were scheduled to begin on July 1, 2021. Terms of the amended agreement provide for an initial six-month extension to January 1, 2022, with the ability to delay the principal debt repayments until July 1, 2022 upon achievement of certain financing and product revenue milestones.

The company also announced an extension of its cash runway. Based on its current operating plans and following the extension of the principal debt repayments under its loan agreement with Hercules, the company expects that its existing cash resources, including proceeds raised under its at-the-market (ATM) offering facility since May 6, 2021, will be sufficient to enable the company to fund its operating expenses, debt service obligations and capital expenditure requirements substantially through the first quarter of 2022.

Nabriva CEO Ted Schroeder commented, “As a result of successfully negotiating to extend our debt repayment and the recent activity from our ATM program, we have improved our near-term cash flow and extended our cash runway substantially through the first quarter of 2022. This also importantly provides near-term optionality to invest in value-creating commercialization efforts to increase awareness and drive prescription demand growth for XENLETA® (lefamulin) and SIVEXTRO® (tedizolid phosphate). We remain committed to effectively managing expenses to focus on driving top-line revenues.”

About Nabriva Therapeutics plc

Nabriva Therapeutics is a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections. Nabriva Therapeutics received U.S. Food and Drug Administration approval for XENLETA® (lefamulin injection, lefamulin tablets), the first systemic pleuromutilin antibiotic for community-acquired bacterial pneumonia (CABP). Nabriva Therapeutics is also developing CONTEPO™ (fosfomycin) for injection, a potential first-in-class epoxide antibiotic for complicated urinary tract infections (cUTI), including acute pyelonephritis. Nabriva entered into an exclusive agreement with subsidiaries of Merck & Co. Inc., Kenilworth, N.J., USA to market, sell and distribute SIVEXTRO® (tedizolid phosphate) in the United States and certain of its territories.

Forward-Looking Statements

Any statements in this press release about future expectations, plans and prospects for Nabriva Therapeutics, including but not limited to statements about the ability of Nabriva Therapeutics to raise awareness of XENLETA and SIVEXTRO, drive prescription demand growth and drive top-line sales growth, the potential benefits to patients of SIVEXTRO and XENLETA, the market opportunity for SIVEXTRO and XENLETA, the availability of SIVEXTRO through major U.S. specialty wholesalers, the impact on Nabriva Therapeutics’ reported revenue from anticipated sales of SIVEXTRO, the sufficiency of its cash resources and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “likely,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: Nabriva Therapeutic’s ability to comply with its obligations under its loan agreement with Hercules, Nabriva Therapeutic’s ability to maintain the conditions under the distribution agreement to exclusively distribute and promote SIVEXTRO, including its ability to maintain a commercial infrastructure sufficient to promote and distribute SIVEXTRO, the extent of business interruptions resulting from the infection causing the COVID-19 outbreak or similar public health crises, the ability to retain and hire key personnel, the availability of adequate additional financing on acceptable terms or at all and such other important factors as are set forth in Nabriva Therapeutics’ annual and quarterly reports and other filings on file with the SEC. In addition, the forward-looking statements included in this press release represent Nabriva Therapeutics’ views as of the date of this press release. Nabriva Therapeutics anticipates that subsequent events and developments may cause its views to change. However, while Nabriva Therapeutics may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Nabriva Therapeutics’ views as of any date subsequent to the date of this press release.

CONTACTS:

For Investors

Kim Anderson
Nabriva Therapeutics plc
ir@nabriva.com

For Media

Andrea Greif
Ogilvy
andrea.greif@ogilvy.com
914-772-3027

Adblock test (Why?)

Nabriva Agrees to Extension of Principal Debt Repayments Under Existing Loan Agreement with Hercules Capital - GlobeNewswire
Read More

Jarmo Sandelin wins Principal Charity Classic Monday Qualifier - pgatour.com

Jarmo Sandelin, who is best known in the United States for wearing sunglasses that extend over the top of his head on occasion, won the Monday Qualifier for the Principal Charity Classic on Tuesday with a 68 at Veenker Memorial Golf Course in Des Moines, Iowa. Phillip Price finished second with a 69 while Thongchai Jaidee and Brian Cooper snagged the final two spots in a playoff. They both turned in 70s.

Sandelin, of Sweden, will make his 11th career PGA TOUR Champions start and first in 2021. His best finish is an 11th at the Senior Open Championship in 2018. Sandelin played predominantly on the European Tour during his career, winning five times. He also played on the 1999 European Ryder Cup team.

Price will also make his first start of 2021 on PGA TOUR Champions. He made two starts last year. He has three career top 10s on PGA TOUR Champions. Price is a three-time winner on the European Tour. 

Thongchai Jaidee, who earned status through PGA TOUR Champions Qualifying School in 2019, will make his fifth PGA TOUR Champion start. He finished T23 last week at the Senior PGA Championship at Southern Hills and also played a few weeks ago at the Mitsubishi Electric Classic and finished T26.

Cooper will make his eighth career start and first since 2019.

The Principal Charity Classic begins on Friday, June 4 at the Wakonda Club.

Adblock test (Why?)

Jarmo Sandelin wins Principal Charity Classic Monday Qualifier - pgatour.com
Read More

Principal launches new ETFs and hires model portfolio strategist - ETF Express

Principal Financial Group is continuing to build out its model portfolio offering, making a strategic hire to lead the development of the product offering and bringing to market three new multi-factor ETFs. 

Both actions will serve as foundational pillars for Principal’s planned growth in the model portfolio space while also meeting the increased client demand for adaptive risk ETFs.

The Principal Adaptive Multi-Factor ETFs are built to adjust to changes in the investment environment for risk assets. The three ETFs – US Large Cap, US Small Cap, and International – will use factor combinations to read and adjust risk exposure based upon equity market signals rather than macroeconomic indicators.

“We remain focused in our pursuit of investment solutions that will help clients optimise returns and mitigate risk. By utilising a rules-based investing process, the Principal Adaptive Multi-Factor ETFs aim to consistently outperform traditional market cap-weighted indexes during periods of low and high market volatility,” says Matthew Raynor, managing director of the U.S. Strategic Client Group for Principal Global Investors. “These ETFs assess market risk measurements like the VIX, as well as proprietary risk screens, and seek to actively allocate to the most appropriate factors based on these measurements.”

In addition to supporting client demand, the Principal Adaptive Multi-Factor ETFs will also become a core component of Principal’s model portfolio offering that has been advanced in 2021. After launching 25 Principal Wilshire Diversified Portfolios in early May, Principal has since hired Michael Casciano as a model portfolio strategist to help lead and develop its long-term model strategy.

“Mike comes to Principal with a tremendous amount of model portfolio expertise and the experience to guide both the construction of models and client engagement,” says Jill Brown, managing director of US Wealth Markets for Principal Global Investors. “His immediate objective will be to create our own open architecture, Principal branded series of models, and the Principal Adaptive Multi-Factor ETFs will be significant building blocks for them.”

Casciano joined Principal on 17 May after spending 14 years with BlackRock, where he held multiple roles within its model portfolio business. He most recently served as the head of 55ip models partnership.
 

Adblock test (Why?)

Principal launches new ETFs and hires model portfolio strategist - ETF Express
Read More

Power Rankings: Principal Charity Classic - pgatour.com

PGA TOUR Champions returns to Des Moines, Iowa and the Wakonda Club for the Principal Charity Classic this week. The Tour has been coming to the area since 2001. The event was played at Glen Oak Country Club until it moved to the Wakonda Club in 2013. The season is really starting to heat up now with 17 events remaining in the chase for a Charles Schwab Cup. Alex Cejka has been by far the biggest story of the last month as he’s taken the Tour by storm and is up to No. 12 on the standings after back-to-back major victories at the Regions Tradition and the KitchenAid Senior PGA Championship. He’s in the field this week for the Principal Charity Classic.

POWER RANKINGS: PRINCIPAL CHARITY CLASSIC

Adblock test (Why?)

Power Rankings: Principal Charity Classic - pgatour.com
Read More

Principal of London, Ont. high school removed from position after wearing Black student’s hair - Toronto Star

The removal of a principal from his position after he wore a Black student’s hair on Halloween has reignited a larger conversation on anti-Black racism and cultural appropriation at a French Catholic high school in London, Ont.

The photo posted on Instagram by Black Lives Matter (BLM) London Friday evening dates back to 2019 and shows Luc Chartrand, the former principal of École Secondaire Catholique Monseigneur-Bruyère, wearing a Black student’s hair, which had been shaved off during a cancer fundraiser earlier in the school year.

Alexandra Kane, lead activist of BLM London, says the incident is just one example of racism at the school.

“I think this issue has really focused on Chartrand wearing a student’s hair, and (while) that is heinous and gross and disgusting, we need to focus on the real-life traumas ... The real-life traumas like people came to him with teachers calling students the N-word and monkeys and racist situations and oppressions and aggression ... and (he) ignored everything,” said Kane.

Kane told the Star that students said they had brought this incident up to the school and the school board, but it was not addressed until it was made public by BLM London and reached a wider audience.

“This is cultural appropriation and he (was) giving permission to not only his staff and students watching him saying, ‘It’s OK. As a leader, I’m telling you it’s OK,’ ” Kane continued.

Kane noted that when the incident took place, a BLM chapter did not exist in London.

BLM London was first notified of the incident when an alumni of the school posted the photo on their Instagram stories in May as a way to look back on the incident. The organization then reached out to verify.

The Star reached Chartrand at an email belonging to the school board Tuesday, but he declined to comment.

Monseigneur-Bruyère did not respond to the Star’s request for comment before publication.

In a statement to the Star, Le Conseil scolaire catholique Providence, the school board in charge of Monseigneur-Bruyère, said it, “strongly condemns this type of behaviour and maintains a zero-tolerance policy toward any racism, discrimination, or the appearance thereof.”

The school board did not comment on whether it was aware of the incident or took action on it before this year.

A former student of Monseigneur-Bruyère who graduated last year told the Star that this incident is a larger indication of the culture of the school. The student said at first students were personally “confused and weirded out” by Chartrand’s actions. She said that when she initially talked to people about it, they found it “disgusting” the former principal kept a student’s hair in the first place.

Loading...

Loading...Loading...Loading...Loading...Loading...

The former student said that she, along with other students, collected a list of incidents of racism and microaggressions they faced for a letter of action with calls to action for the school board in June 2020. She said that the school board gave a very general response to the letter at the time and that the letter was not discussed further.

The letter, which the Star has viewed, called for accountability and equity workshops for staff to understand anti-racism policies.

In its statement to the Star, Le Conseil scolaire catholique Providence said it had recently hired a human rights and equity adviser to train trustees and school administration on anti-Black and anti-Indigenous racism. The board told the Star that it is initiating a review into the students’ letter of action.

Adblock test (Why?)

Principal of London, Ont. high school removed from position after wearing Black student’s hair - Toronto Star
Read More

UBC reviews honorary degree granted to former Kamloops Residential School principal - Western Standard

A decision made by the University of British Columbia in 1986 to grant Bishop John Fergus O’Grady an honorary degree is now under review.

O’Grady, who died in 1998, was principal of the Kamloops Residential School where the remains of over 215 children have been found.

“The university is aware of the community concerns relating to the honorary degree conferred in 1986 to Bishop John O’Grady,” writes UBC’s President and Vice-Chancellor in a joint statement with UBC Okanagan’s Deputy Vice-Chancellor and Principal.

“The issues raised are deeply upsetting and we take them seriously. UBC’s Senate will be reviewing this matter immediately per our processes and policies relating to honorary degree recipients.

“The devastating legacy of the Indian residential school system has affected nearly every Indigenous family and the effects on communities are still here today.”

The Indian residential schools were in operation for over a century as a partnership between the Canadian government and major churches. The last school closed its doors in 1996.

“A major component of Fergus O’Grady’s dream was the role of education to bring communities together and to open up future possibilities for members of local communities,” states archives dating May 29, 1986, the date O’Grady received his honorary degree.

“In 1956, when Fergus O’Grady became Bishop of Prince George, a position he still holds, he seized on the opportunity to make education more accessible to local communities in the interior and to do so in a way which would bring the native and white communities closer together.”

Archives also state that O’Grady served on the staffs of Native Indian schools in Mission and Kamloops.

Although some reports of O’Grady’s exact role and time spent in the Kamloops Residential School are unconfirmed, a letter posted on the BC Teachers Federation website confirms that he was in fact the schools principal in 1948.

“It will be your privilege this year to have your children spend Christmas at home with you,” writes O’Grady in the letter dated November 18, 1948.

“This is a privilege which is being granted if you observe the following regulations of the Indian Department.”

O’Grady warns parents to bring the children back to school “strictly on time,” and how failure to do so will result in the child not being allowed to return home for Christmas the following year.

Catholic bishops in Canada have released statements in response to the discovery of children’s remains at the former Kamloops Residential School.

“On behalf of the Canadian Conference of Catholic Bishops (CCCB), I express our deepest sorrow for the heartrending loss of the children at the former Kamloops Indian Residential School on the Tk’emlúps te Secwépemc First Nation,” wrote Richard Gagnon, Archbishop of Winnipeg and President of the Canadian Conference of Catholic Bishops.

“This tragedy profoundly impacts indigenous communities, with whom many people across this land and throughout the world now stand in solidarity. As we see ever more clearly the pain and suffering of the past, the Bishops of Canada pledge to continue walking side by side with indigenous peoples in the present, seeking greater healing and reconciliation for the future.”

Investigations into the Kamloops Residential School, as well as O’Grady’s role are ongoing.

Reid Small is a BC correspondent for the Western Standard
rsmall@westernstandardonline.com

Adblock test (Why?)

UBC reviews honorary degree granted to former Kamloops Residential School principal - Western Standard
Read More

UBC reviews honorary degree given to principal of Kamloops Indian Residential School - Global News

The University of British Columbia is now reviewing an honorary degree given to Bishop John O’Grady in 1986.

O’Grady was at one time the principal of the Kamloops Indian Residential School where the remains of 215 children were found on the grounds last week.

“The issues raised are deeply upsetting and we take them seriously. UBC’s Senate will be reviewing this matter immediately per our processes and policies relating to honorary degree recipients,” UBC president Santa Ono said in a statement.

UBC says honorary degrees are given to “deserving individuals who have made substantial contributions to society.”

This includes “leading academics in all disciplines and creative minds in arts and performance; public intellectuals and opinion-makers; visionary leaders and exemplary public figures; and community builders and philanthropists.”

According to a statement from UBC, O’Grady was given a Doctor of Laws in a ceremony on May 29, 1986, for his role in “education to bring communities together and to open up future possibilities for members of local communities.”

In a speech at the ceremony by then-president David Strangway, he said to a considerable extent, O’Grady “inherited his dream from successive generations of his religious order, the Oblate Fathers. This Order came to this province over a hundred years ago and quickly set up schools: 1849 in Victoria, 1861 in Mission, 1873 in Fort St. John. Fergus O’Grady served on the staffs of Native Indian schools in Mission and Kamloops developing the first secondary school programme in this Province for the Native Peoples.”

In 1956, O’Grady became Bishop of Prince George and “seized on the opportunity to make education more accessible to local communities in the Interior and to do so in a way which would bring the native and white communities closer together,” Strangway said.

According to the Catholic Hierarchy website, Bishop John Fergus O’Grady was born in 1908 and died in 1998 in Prince George.

After developing his own trucking, bulldozing and construction firm, O’Grady built 13 elementary schools and one secondary school.

“Fergus O’Grady, you have appreciated the role of education in the lives of the people of this province. You have responded with energy, imagination and adaptability to the needs of our people, especially in the Interior of the Province. We appreciate your vision. You might be interested to know that our first class of our own Native Indian Teacher Training Programme included almost half of its students from your school in Prince George,” Strangway added at the ceremony.

The Tk’emlúps te Secwépemc announced the discovery of the remains Thursday after ground-penetrating radar confirmed what members had long said about the former Kamloops Indian Residential School, which was the largest institution of its kind in Canada.

2:03 Trudeau acknowledges discovery of children’s remains buried at former B.C. residential school

Trudeau acknowledges discovery of children’s remains buried at former B.C. residential school

UBC has joined organizations and governments across Canada that have lowered their flags in shared grief and to pay their respects to the children, their families and their communities.

Indian residential schools operated for more than a century as a partnership between the Canadian government and major churches, with the last school closing only in 1996, Ono explained.

Read more: ‘It shouldn’t have happened’: Emotions still raw after discovery of burial site at B.C. residential school

“Many spent their entire childhoods in the schools and many died there, as we were starkly reminded last week: the mortality rates at some schools at times surpassed 60 per cent,” Ono continued in a statement.

“Children suffered emotional or mental abuse, and many suffered physical and sexual abuse. The devastating legacy of the Indian residential school system has affected nearly every Indigenous family and the effects on communities are still here today.”

June is National Indigenous History Month in Canada.

“As last week’s news reminds us though, that history includes tragedy and sorrow as well as achievement and pride,” Ono said.

“Universities, including UBC, bear part of the responsibility for this history, not only for having trained many of the policymakers and administrators who operated the residential school system, and doing so little to address the exclusion from higher education that the schools so effectively created but also for tacitly accepting the silence surrounding it.”

3:18 Green Party calls for accountability, pope apology for Indigenous children mass grave discovery in B.C.

Read more: First Nation in Kamloops, B.C., confirms bodies of 215 children buried at former residential school site

Grand Chief Stewart Philip of the Union of BC Indian Chiefs called for an unprecedented and thorough investigation along the lines of the one conducted into convicted serial killer Robert Pickton.

“This cannot be swept under the carpet,” Phillip said. “We don’t need any more political theatre in terms of apologies by the prime minister. We need them to engage this with all of the resources available and necessary to do a proper job.”

The Syilx Okanagan Nation, which represents eight First Nations in the Okanagan, also issued a statement calling on the province and federal government to “directly address these atrocities.”

— with files from Simon Little and Doyle Potenteau

© 2021 Global News, a division of Corus Entertainment Inc.

Adblock test (Why?)

UBC reviews honorary degree given to principal of Kamloops Indian Residential School - Global News
Read More