On October 13, 2020 OPKO Health, Inc. (NASDAQ: OPK) reported that operating and financial results for the three months ended September 30, 2020, as well as discuss financial guidance, after the close of the U.S. financial markets on Thursday, October 29, 2020 (Press release, Opko Health, OCT 13, 2020, View Source [SID1234568402]). OPKO’s senior management will provide a business update and discuss results in greater detail during a conference call and live audio webcast on October 29th beginning at 4:30 p.m. Eastern time.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

CONFERENCE CALL & WEBCAST INFORMATION

OPKO encourages participants to pre-register for the conference call using the link here or dialing (888) 869-1189 or (706) 643-5902 and using conference ID 4542807. Upon registering, participants will receive dial-in numbers, an event passcode and a unique registrant ID to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the start of the call.

To access the live call via webcast, please click on the link OPKO 3Q20 Results Conference Call. Individual investors and investment community professionals who do not plan to ask a question during the call’s Q&A session are encouraged to listen to the call via the webcast.

For those unable to listen to the live conference call, a replay can be accessed for a period of time on OPKO’s website at OPKO 3Q20 Results Conference Call. A telephone replay will be available beginning approximately two hours after the close of the conference call. To access the replay, please dial (855) 859-2056 or (404) 537-3406, and use conference ID 4542807.

On October 13, 2020 IAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported preliminary sales and adjusted earnings per share (EPS) results for the third quarter of 2020 (Press release, Qiagen, OCT 13, 2020, View Source [SID1234568401]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Net sales grew 26% at actual rates, and also rose 26% at constant exchange rates (CER), to $481.3 million from $382.7 million in the same period of 2019 – a higher rate than the outlook for the third quarter of 2020 for 16-21% CER sales growth announced on July 13, 2020.

The better-than-expected results reflect both ongoing significant demand for solutions used in COVID-19 testing, as well as significantly improved customer demand trends in other areas of the portfolio from the second quarter of 2020, with non-COVID 19 product sales declining at a mid-single-digit CER rate compared to the third quarter of 2019. Among specific products, sales of the QuantiFERON-TB test for tuberculosis detection declined 20% CER to about $53 million compared to a 46% CER year-over-year decline in the second quarter of 2020.
Preliminary adjusted EPS results for the third quarter of 2020 are for approximately $0.58 CER – a 61% increase from adjusted EPS of $0.36 in the third quarter of 2019 and at the high end of the outlook for about $0.52-0.58 CER, also as announced on July 13, 2020.

Based on exchange rates on September 30, 2020, QIAGEN expects currency movements against the U.S. dollar (reporting currency) to have a positive impact on results for the third quarter of 2020 of less than one percentage point on net sales at actual rates and less than $0.01 on adjusted EPS.
Full results for the third quarter and first nine months of 2020 remain scheduled for publication on November 4, 2020, and for a conference call to be held as planned on November 5, 2020.

On October 13, 2020 MorphoSys AG (FSE: MOR; Prime Standard Segment; MDAX & TecDAX; NASDAQ: MOR) reported that successfully placed unsubordinated, unsecured convertible bonds due 2025 in an aggregate principal amount of EUR 325 million (Press release, MorphoSys, OCT 13, 2020, View Source [SID1234568400]). The bonds will be convertible into new and/or existing no-par value ordinary bearer shares of MorphoSys. The pre-emptive rights (Bezugsrechte) of existing shareholders of the Company to subscribe for the convertible bonds were excluded.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Jean-Paul Kress, M.D., Chief Executive Officer, said: "We are pleased with the success of the convertible bond issuance enabling MorphoSys to achieve highly attractive terms: a low coupon combined with a significant conversion premium allowing to set the conversion price close to MorphoSys’ all-time share price high. The strong and high-quality demand achieved with this transaction, allowing us to optimize financing terms today, is a further testimony of investor support and belief in MorphoSys’ long-term growth prospects."

The convertible bonds with a denomination of EUR 100,000 each will be issued at 100% of their principal amount. Unless previously converted, redeemed or repurchased and cancelled, the convertible bonds will be redeemed at their principal amount on October 16, 2025. The convertible bonds were priced with a coupon of 0.625% per annum, payable semi-annually in arrear. The conversion price was set at EUR 131.29 representing a conversion premium of 40.0% above the reference share price of EUR 93.7766, being the volume-weighted average price (VWAP) of the shares on XETRA between launch and pricing.

The Company may redeem all, but not some only, of the convertible bonds outstanding at their principal amount plus accrued interest with effect on or after November 6, 2023 if the price of the Company’s share is equal to or exceeds 130% of the prevailing conversion price on each day within a certain period, or if less than 20% of the aggregate principal amount of the convertible bonds originally issued are outstanding.

The convertible bonds were offered by way of an accelerated bookbuilding process to institutional investors outside the United States of America and any other jurisdiction in which offers or sales of the convertible bonds would be prohibited by applicable law.

Settlement of the offering is expected to take place on or around October 16, 2020. The Company intends to arrange for the convertible bonds to be included to trading on the Open Market Segment (Freiverkehr) of the Frankfurt Stock Exchange shortly thereafter.

Use of Proceeds

The proceeds from the issue of the convertible bonds will be used for general corporate purposes, including proprietary development, inlicensing and/or M&A transactions.

Lock-up

The Company has agreed to a lock-up of 90 calendar days following the settlement of the offering, subject to customary exemptions.

Goldman Sachs International and J.P. Morgan acted as Joint Global Coordinators and Joint Bookrunners on the transaction.

On October 13, 2020 Portage Biotech Inc. (CSE: PBT.U, OTC Markets: PTGEF) ("Portage" or the "Company") reported that it has issued 375,014 common shares at a deemed price of US$6.64 per common share and 72,291 common share purchase warrants exercisable at a price of $6.64 per common share for a period of 2 years (collectively, the "Settlement Securities") to settle approximately US$4.4 million of certain debt obligations and equity entitlements (the "Loan Notes") of the Company’s wholly-owned subsidiary, SalvaRx Limited ("SalvaRx") (Press release, Portage Biotech, OCT 13, 2020, View Source [SID1234568399]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The Loan Notes were originally issued in 2017. At that time, SalvaRx was a subsidiary of SalvaRx Group plc, a publicly listed company on the AIM board of the London Stock Exchange. Under the terms of the Loan Notes, upon the occurrence of a qualifying event, Loan Note holders would have been entitled to receive share purchase warrants of SalvaRx in addition to repayment of their Loan Note. The acquisition of SalvaRx by the Company in 2019 constituted a qualifying event.

The Company has settled the Loan Note obligations of SalvaRx through the issuance of the Settlement Securities. Four of the Company’s directors, Gregory Bailey, James Mellon, Steven Mintz (in trust) and Kam Shah have received an aggregate of 363,718 common shares as they had all originally subscribed for Loan Notes in 2017 in an aggregate principal amount of approximately US$4.0 million. The issuance of the common shares to these directors is considered a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on appropriate exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 in respect of these issuances.

Dr. Ian Walters, CEO of Portage, commented, "As a result of this transaction, the Company’s capital structure is simpler and effectively debt free, providing significant financial flexibility to further fund and expand development of innovative drugs to help cancer patients."

All Common Shares issued in connection with the Offering are subject to a minimum statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Common Shares issued in connection with the Offering have not been registered under the U.S. Securities Act of 1933, as amended (the "Act"), and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

On October 13, 2020 Dewpoint Therapeutics, the biomolecular condensates company, reported it has appointed Ameet Nathwani, M.D., as Chief Executive Officer and member of the Board of Directors (Press release, Dewpoint Therapeutics, OCT 13, 2020, View Source [SID1234568398]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are extremely fortunate to have found someone who embodies our core values and is able to work in concert with our pioneering scientific team to guide the company into its next chapter," said Amir Nashat, Managing Partner of Polaris Partners and chair of Dewpoint’s Board of Directors. "We are thrilled to have a leader with such an outstanding record of getting new drugs to patients as Dewpoint continues on its mission of translating the science of biomolecular condensates into much-needed medicines."

Dr. Nathwani has over 25 years of experience in the pharmaceutical industry and has led the development of more than 20 drugs, including Diovan, Entresto, Galvus, and Coreg. He most recently served as Chief Medical Officer, Chief Digital Officer, and Executive Committee member at Sanofi SA, where he led the company’s medical organization and oversaw the development of an industry-leading real-world evidence (RWE) data platform with embedded artificial intelligence capabilities, among other achievements.

Prior to Sanofi, Dr. Nathwani was the Global Head of Medical Affairs and a member of the Pharma Executive Committee at Novartis Pharmaceuticals AG. Over his 12-year tenure at Novartis, he held a number of senior development and commercial positions including Senior Vice President and Global Head of the Critical Care Business Franchise and Senior Vice President and Global Development Head of the Cardiovascular and Metabolism Franchise.

Dr. Nathwani trained as a physician at the University of London, U.K., specializing in cardiology and intensive care medicine.

"I am very excited to lead Dewpoint and collaborate with the international experts in condensate science," said Dr. Nathwani. "Amir has deftly guided Dewpoint through two significant rounds of financing, assembled an impressive team, and helped craft a company passionate about understanding the role of condensates across diseases. I look forward to growing the company as we harness this cutting-edge science and the power of our platforms to discover and develop unique life-changing therapeutics."