Capstone Turbine reports preliminary Q4 revenue $11.3M, consensus $17.47M » 16:2004/0304/03/20
The decrease in product…
The decrease in product and aftermarket revenue is expected to negatively impact the net loss and Adjusted EBITDA results for the fourth quarter of fiscal 2020, the company said.
Capstone execs volunteered salary cuts, developed 'aggressive' furlough program » 16:2004/0304/03/20
Capstone responded to the…
Capstone responded to the COVID-19 pandemic with a Business Continuity Plan focused on its employees, customers, supply chain partners and shareholders. Circumstances surrounding COVID-19 continue to evolve at a rapid pace. The Capstone BCP is designed to keep employees safe, align with government guidelines, continue to support critical Aftermarket Factory Protection Plan long-term service contracts and spare parts deliveries to Essential Critical Infrastructure Customers, such as Energy, Health Care, Wastewater Treatment, Food Manufacturing, etc., as well as to sustain two key business goals: cash flow and liquidity and reaching Adjusted EBITDA positive in the upcoming June quarter. One key business goal of the Company is cash flow and liquidity. The internal goal for the most recent quarter was to finish the quarter with a minimum of $14.5 million in cash. In addition, it was critical that Capstone dramatically slow incoming raw materials to position the Company to potentially achieve positive working capital in the June quarter. "I am pleased to report that our cash balance as of March 31, 2020, was $15.1 million and our inventory receipts during the quarter decreased by $4.6 million, or 36%, to $8.1 million compared to $12.7 million in the third quarter which should put us in position to potentially drive positive working capital next quarter," said Darren Jamison, President and Chief Executive Officer of Capstone. Capstone's second key goal is to remain committed to its stated objective of reaching Adjusted EBITDA positive in the upcoming June quarter. In support of that goal, Company executives volunteered salary cuts and developed an aggressive furlough and cost control program, which will reduce operating expenses an estimated 25% in the short-term to support an Adjusted EBITDA positive quarter with strengthening aftermarket margins and the assumption of rebounding product shipments in June.
Solebury Trout to hold a virtual conference » 08:4404/0204/02/20
AFMD, EVFM, LCTX, EPIX
Virtual Global Healthcare…
Virtual Global Healthcare Conference will be held on April 2 at 9:30 am. Webcast Link
Citius Pharmaceuticals signs exclusive option with Novellus » 08:0804/0104/01/20
Citius Pharmaceuticals signed an exclusive six-month option agreement to in-license a stem-cell therapy for acute respiratory distress syndrome from a subsidiary of Novellus, a preclinical-stage biotechnology company based in Cambridge, MA. Novellus's patented process uses its exclusive non-immunogenic synthetic messenger ribonucleic acid molecules to create induced pluripotent stem cells that, in turn, generate mesenchymal stem cells with superior immunomodulatory properties. MSCs have been shown to be safe in over 900 clinical trials and to be safe and effective in treating a number of inflammatory diseases, including ARDS.
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H.C. Wainwright encouraged Ocugen's Phase 3 trial of OCU300 still on track » 10:5103/3003/30/20
H.C. Wainwright analyst…
H.C. Wainwright analyst Swayampakula Ramakanth is encouraged that Ocugen's pivotal Phase 3 trial of OCU300 for the treatment of ocular graft-versus-host disease is progressing despite the COVID-19 outbreak, noting that the company had completed over 95% of the planned enrollment as of March 20 and continues to expect topline results from the study by the end of 2020. Ramakanth maintains a Buy rating with a $1.25 price target on Ocugen shares.
Dyadic International enters nonexclusive research collaboration with WuXi » 09:1103/3003/30/20
Dyadic International announced that it has entered into a nonexclusive research collaboration with WuXi Biologics, a global open-access biologics technology platform company. Under the terms of the research license agreement, Dyadic will grant WuXi Biologics restricted access to its proprietary and patented C1 gene expression platform and allow WuXi Biologics to evaluate the C1 technology in a cGMP facility and to perform certain experiments to the C1 cell lines for any other internal noncommercial purpose. WuXi Biologics will invest its own resources to evaluate the C1 platform for their customers worldwide.
Ocugen files $75M mixed securities shelf 17:4103/2703/27/20
Fly Intel: Pre-market Movers » 09:1403/2703/27/20
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Check out this morning's…
Capstone Turbine partners with NYPA, Brenmiller Energy for SUNY Purchase project » 08:1403/2703/27/20
Capstone Turbine announced that it has partnered with the New York Power Authority, or NYPA, and Brenmiller Energy on a groundbreaking thermal energy storage project for Purchase College, State University of New York, or SUNY. The project received a one million dollar grant from the Israel-United States Binational Industrial Research and Development, or BIRD, Foundation to investigate low emission thermal energy storage as a means to increase the efficiency of standard combined heat and power, or CHP, systems. The installation will serve as a demonstration project for innovative thermal energy storage technology in New York. The collaboration is one of many projects deployed as part of New York State's Energy Storage Roadmap that includes energy storage targets of 1,500 megawatts by 2025-the equivalent electricity demand of one-fifth of all New York homes.
Ocugen expects topline results for Phase 3 study of OCU300 by year-end » 07:3503/2703/27/20
In December 2019, Ocugen…
In December 2019, Ocugen announced 50% enrollment in its Phase 3 trial, and as of March 20, 2020, Ocugen has completed over 95% of the planned enrollment. Ocugen is anticipating topline results by the end of the year.