On May 12, 2022 Volastra Therapeutics, an oncology company focused on exploiting chromosomal instability (CIN) as a vulnerability for cancer cells, reported that members of its management team are scheduled to participate in a fireside chat at the 2022 Guggenheim Synthetic Lethality Day on May 16th at 11:30 a.m. ET (Press release, Volastra Therapeutics, MAY 12, 2022, View Source;utm_medium=rss&utm_campaign=volastra-therapeutics-announces-participation-in-2022-guggenheim-synthetic-lethality-day [SID1234614279]).

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A live webcast of the fireside chat can be accessed in the News and Views section of the company’s website at View Source A replay of the webcast will be archived on the company’s website for 90 days.

On May 12, 2022 Palatin Technologies, Inc. ("Palatin" or the "Company") (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin peptide receptor system, reported that it has entered into a securities purchase agreement with institutional investors pursuant to which Palatin will issue and sell 8,100,000 shares of its Series B convertible redeemable preferred stock and 900,000 shares of its Series C convertible redeemable preferred stock to such investors (Press release, Palatin Technologies, MAY 12, 2022, View Source [SID1234614278]). Each share of Series B and Series C preferred stock has a purchase price of $1.67. Each share of Series B and Series C preferred stock is convertible into shares of Palatin’s common stock at an initial conversion price of $0.45 per share. The investors in the Series B and Series C preferred stock also received warrants to purchase up to 1,666,667 shares of common stock at an exercise price of $0.50 per share, expiring 48 months following issuance. Total gross proceeds from the offering, before deducting estimated offering expenses, is approximately $15 million.

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Shares of the Series B and Series C preferred stock are convertible, at the option of the holder, at the earlier of 90 days from closing of the issuances of the Series B and Series C preferred stock and any time following the Company’s receipt of stockholder approval for a reverse stock split (RSS) of the Company’s common stock and until the thirtieth (30th) calendar day following the RSS date, into 33,333,333 common shares, computed by dividing the aggregate stated value of the preferred stock of $15 million by the conversion price of $0.45. Alternatively, following approval for a RSS and before the thirtieth (30th) calendar day following the RSS date, the holders of Series B and Series C preferred stock shall have the right to elect to have all of the outstanding shares of Series B and Series C preferred stock redeemed by the Company for cash in an amount equal to the stated value of such shares or for debt in an aggregate principal amount equal to the stated value of such shares, and receive a redemption fee of $750,000, representing 5% of the aggregate stated value of the preferred shares.

Palatin expects to call a meeting of stockholders to seek approval of, among other things, an amendment to its certificate of incorporation to effect the RSS (the "Proposal"). Except as otherwise required by law, holders of the Series B and Series C preferred stock are entitled to vote only on the Proposal and any proposal to adjourn any meeting of stockholders at which the Proposal is submitted and will vote together with the holders of common stock and each other class or series of capital stock of the Company as a single class. The holders of Series B preferred stock are entitled to a number of votes equal to the number of shares of common stock into which the Series B preferred is convertible on the issuance date. The holders of the Series C preferred stock are entitled to a number of votes equal to 20,000 votes per share of common stock into which the Series C preferred is convertible. The holders of Series C preferred stock have agreed to vote the shares of Series C preferred stock with respect to the Proposal (or any proposal to adjourn the meeting of stockholders at which the Proposal is submitted) in the same proportion as the shares of common stock, Series A preferred stock, and Series B preferred stock that are voted on such proposals.

To the extent any shares of Series B or Series C preferred stock are converted to common shares or redeemed for debt, the Company will use such net proceeds from this offering for working capital and general corporate purposes.

Additional information regarding the securities described above and the terms of the offering will be included in a filing with the United States Securities and Exchange Commission ("SEC").

The Series B and Series C preferred stock and warrants and shares of common stock into which these preferred shares and warrants are convertible are being issued in reliance upon the exemption from the securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the "1933 Act") and/or Rule 506 of Regulation D as promulgated by SEC under the 1933 Act.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

On May 12, 2022 Kureha Corporation reported that FY2021 Financial ReportI (Press release, Kureha Corporation, MAY 12, 2022, View Source [SID1234614277]).

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FY2021 Results (April 1, 2021 – March 31, 2022)

2 Highlights
• Delivered ¥6.5bn growth in core operating profit, driven by Advanced Materials (PVDF, PPS) and Specialty Plastics (wrap film, fishing lines)
• PPS capacity increase of 5000tpa (completed by FY20/4Q) contributing in 2Q onward
• Capacity increase for PVDF specialty polymers completed at the Iwaki Factory in 4Q
• Sales growth of PGA frac plugs below targeted; PGA resin production suspended
• Development of new agrochemicals progressing as scheduled
• Recorded a ¥5.3bn impairment loss on the PGA resin manufacturing plant (USA)Factors attributing to changes in

core operating profit AM: Sales expansion of advanced plastics (PVDF, PPS, PGA), carbon products and other plastic products SC: Higher fuel and raw material costs more than offsetting increased pharmaceuticals and organic industrial chemicals volumes, flat agrochemicals sales

SP: Higher home product and fishing line volumes, recovered sales for packaging materials
CO: Fewer construction projects in both private and public sectors
OO: Absence (completion) of prior year’s post-typhoon waste treatment projectsNotes-Other expenses in FY2020 include an ¥1.6bn impairment loss related to the PGA business

-Other expenses in FY2021 include a ¥5.3bn impairment loss related to the PGA business and a ¥0.3bn loss on revision of retirement benefit plan

Advanced plastics: Revenue and profit up: Higher sales volumes of PVDF LiB binder, PPS and PGA (for shale development) partially offset by impact of suspended production for PGA resins
Carbon products: Revenue and profit up: Sales volume growth of carbon fiber used for high-heat furnace insulation and automotive sliding materials
Other: Revenue and profit up: Sales expansion of other plastic products led by Group companies

On May 12, 2022 Sysmex Corporation (HQ: Kobe, Japan; Chairman and CEO: Hisashi Ietsugu) reported certain differences between its financial forecast on November 10, 2021, for the fiscal year ended March 31, 2022 (April 1, 2021, to March 31, 2022) (Press release, Sysmex, MAY 12, 2022, View Source [SID1234614269]). Furthermore, at a meeting of the Managing Board on May 12, 2022, Sysmex resolved to award dividends from surplus as described below, with a record date of March 31, 2022. We intend to propose this payment of dividends from surplus at the General Meeting of Shareholders scheduled for June 24, 2022.

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1. Change from Financial Forecasts
(1) Consolidated Financial Results for Fiscal Year from April 1, 2021, to March 31, 2022
(2) Reason Consolidated net sales were higher than previously expected, owing to favorable sales in the EMEA region and lower yen exchange rates than we had assumed earlier. On the profit front, operating profit, profit before tax and profit attributable to owners of the parent outpaced our previous expectations due to higher-than-expected consolidated net sales and a decline in selling, general and administrative expenses, owing to sales activities being constrained due to COVID-19. A change in the accounting treatment of cloud computing contracts during the fiscal year under review has been applied retroactively to the previous fiscal year’s figures, which are provided for reference. For details, please see the "Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2022," disclosed today (May 12, 2022).

2. Dividend from Surplus
(1) Dividend
(2) Reason In terms of returns to shareholders, we intend to provide a stable dividend on a continuous basis and aim for a consolidated payout ratio of 30% under our basic policy of sharing the successes of our operations in line with business performance.

In accordance with this policy, we have set the ordinary year-end dividend for the fiscal year ended March 31, 2022, at ¥39 per share. Accordingly, annual total dividends will be ¥76 and the consolidated payout ratio will be 36.0%.

On May 12, 2022 Isofol Medical AB (publ), (Nasdaq Stockholm: ISOFOL), reported that the company’s interim report for January–March 2022 is now available on the company’s website, www.isofolmedical.com (Press release, Isofol Medical, MAY 12, 2022, View Source [SID1234614268]).

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First quarter, January–March 2022
● Net revenue amounted to TSEK 4,006 (5,215) and other revenue to TSEK 1 (0)
● The result for the period amounted to TSEK -47,874 (-42,662)
● Earnings per share amounted to SEK -0.30 (-0.51)
● Cash and cash equivalents on March 31 amounted to TSEK 332,035 (77,524)

Significant events during the first quarter 2022
● Jenny Sundqvist assumed her role as Chief Commercial Officer on January 1, 2022.

Significant events after the event of the period
● Isofol’s Nomination Committee proposes the election of Jan Törnell as new Chairman of the Board at the Annual General Meeting on May 19, 2022.
● On April 22, Isofol announced that the process of analyzing study data from the AGENT study has begun.

CEO´s comment:
"During the first quarter, Isofol performed many crucial and important activities to lay the foundation for the presentation of the forthcoming study results in the AGENT study. Having now passed the cut-off point that enables the start of the data analysis process, we see several milestones ahead, presentation of top-line data and later also final data", says CEO Ulf Jungnelius.

Audiocast, May 12, at 11:00 a.m. CEST
In conjunction with the publication of the interim report for the first quarter of 2022, Isofol invites investors, analysts, and media to an audiocast on May 12, 2022 at 11:00 a.m. CEST. The presentation will be held by Isofol´s CEO Ulf Jungnelius and CFO Gustaf Albèrt, who will present and comment the report, followed by a Q&A-session. The presentation will be held in English.

The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST, on May 12, 2022.

About arfolitixorin
Arfolitixorin is Isofol’s proprietary drug candidate being developed to increase the efficacy of standard of care chemotherapy for advanced colorectal cancer. The drug candidate is currently being studied in a global pivotal Phase III study, AGENT. As the key active metabolite of the widely used folate-based drugs, arfolitixorin can potentially benefit more patients with advanced colorectal cancer, as it does not require complicated metabolic activation to become effective.