On June 3, 2020 Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, reported that its Board of Directors has declared a quarterly cash dividend payment on the Company’s 10.50% Series E Convertible Preferred Stock (the "Series E Preferred Stock") (Press release, Avid Bioservices, JUN 3, 2020, View Source [SID1234560790]).

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The quarterly dividend on the Series E Preferred Stock is payable on July 1, 2020 to holders of record at the close of business on June 15, 2020.

The quarterly dividend payment on the Series E Preferred Stock will be $0.65625 per share, which is equivalent to an annualized 10.50% per share, based on the $25.00 per share stated liquidation preference, accruing from April 1, 2020 through June 30, 2020. The Series E Preferred Stock is listed on the NASDAQ Capital Market and trades under the ticker symbol "CDMOP".

On June 3, 2020 Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, reported that members of management will participate in a virtual fireside chat at the Goldman Sachs 41st Annual Global Healthcare Conference on Wednesday, June 10, 2020, at 3:50 p.m. ET (Press release, Alector, JUN 3, 2020, View Source [SID1234560789]).

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A live webcast of the fireside chat will be available on the "Events & Presentations" page within the Investors section of the Alector website at View Source A replay will be available on the Alector website for 30 days following the event.

On June 3, 2020 Genmab A/S (Nasdaq: GMAB) reported that at a board meeting the board decided to grant 4,982 restricted stock units and 15,645 warrants to employees of the company and three of the company’s subsidiaries (Press release, Genmab, JUN 3, 2020, View Source [SID1234560788]).

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Each restricted stock unit is awarded cost-free and provides the owner with a right and obligation to receive one share in Genmab A/S of nominally DKK 1. The fair value of each restricted stock unit is equal to the closing market price on the date of grant of one Genmab A/S share, DKK 1,948.

The restricted stock units will vest on the first banking day of the month following a period of three years from the date of grant. Furthermore, the restricted stock units are subject to vesting conditions set out in the restricted stock unit program adopted by the board of directors in accordance with the Remuneration Policy adopted by the shareholders at the annual general meeting. Information concerning Genmab’s restricted stock unit program can be found on www.genmab.com under Investors > Stock information > Restricted stock units.

The exercise price for each warrant is DKK 1,948. Each warrant is awarded cost-free and entitles the owner to subscribe one share of nominally DKK 1 subject to payment of the exercise price. By application of the Black-Scholes formula, the fair value of each warrant can be calculated as DKK 620.64.

The warrants vest three years after the grant date, and all warrants expire at the seventh anniversary of the grant date. The new warrants have been granted on the terms and conditions set out in the warrant program adopted by the board of directors on March 28, 2017. Information concerning Genmab’s warrant schemes can be found on www.genmab.com under Investors > Stock information > Warrants.

On June 2, 2020 Sanofi Chief Executive Officer Paul Hudson along with R&D and commercial leaders reported that it will provide an overview of Sanofi’s oncology strategy and progress update of its related key products and pipeline programs. Sanofi’s oncology strategy is focused on four core therapeutic areas with four anchor treatments the company believes have the potential to transform patient care (Press release, Sanofi, JUN 2, 2020, View Source [SID1234560787]).

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The four areas of strategic focus within oncology, including multiple myeloma, skin, lung, and breast cancers. Sanofi’s four anchor oncology treatments include Sarclisa (isatuximab-irfc), an anti-CD38 monoclonal antibody and Libtayo (cemiplimab-nwlc), a PD-1 checkpoint inhibitor1 and the pipeline programs – an investigational anti-CEACAM 5 antibody drug conjugate and SERD (‘859), an investigational oral selective estrogen receptor degrader.

"We are rapidly building momentum with the execution of our oncology strategy, with several developments on both our pipeline and marketed treatments. Additionally, we are assembling a world-class development and marketing team to support our growth in this core area," said Hudson. "We believe our efforts and treatments have the potential to make a significant difference in the lives of people living with cancer."

"We’ve developed a focused oncology strategy, and are making significant clinical progress to support our ambitions," said John Reed, M.D., Ph.D., Global Head of Research and Development at Sanofi. "With a deep toolbox of therapeutic platforms enabling us to discover highly differentiated molecules, Sanofi has a tremendous opportunity to continue our momentum and build a sustainable presence in oncology."

The virtual investor event will be held today from 4:00-5:30 pm CET/10:00-11:30 am EST. Sanofi speakers include:

Paul Hudson, Chief Executive Officer

John Reed, Global Head of Research and Development

Partnered with Regeneron

Dietmar Berger, Chief Medical Officer and Global Head of Development

Peter Adamson, Global Head of Development, Oncology

Alex Zehnder, Global Franchise Head, Oncology

Additional information about today’s oncology presentation can be found at:

View Source

On June 3, 2020 Shorla Pharma reported that picking up $8.3 million to push its programs through regulatory approval and build up its technical and commercial operations ahead of its first drug launch in 2021 (Press release, Shorla Pharma, JUN 3, 2020, View Source [SID1234560786]). The company will hire "key personnel" in Ireland, Cunningham told FierceBiotech. And with the U.S. as its first market, part of the funds will go toward setting up an outpost to take care of business development and regulatory and commercialization activities stateside.

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The Dublin-based company is working on three programs, all of which are improvements on established drugs, which may have a difficult-to-use formulation, not treat certain types of cancer very well or be in limited supply. Cunningham and Ryan didn’t disclose what the drugs are, beyond saying they are all "established active substances" that have been "proven from a safety and efficacy perspective."