On April 29, 2020 WuXi AppTec Co., Ltd. (stock code: 603259.SH / 2359.HK), a company that provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical, biotech and medical device industries worldwide to advance discoveries and deliver groundbreaking treatments to patients, reported its unaudited financial results for the First-Quarter 2020 ("Reporting Period") (Press release, WuXi AppTec, APR 29, 2020, View Source [SID1234556796]).

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This document serves purely as a summary and is not intended to provide a complete representation of the relevant matters. For further information, please refer to the 2020 first quarterly report and relevant announcements published on the websites of the Shanghai Stock Exchange (www.sse.com.cn) and the Stock Exchange of Hong Kong (www.hkexnews.hk), and the designated media for dissemination of the relevant information. Investors are advised to exercise caution and be aware of the investment risks in dealing in the shares of the Company.

All financials disclosed in this press release are prepared based on International Financial Reporting Standards (or "IFRS").

First-Quarter 2020 Financial Highlights

Revenue grew 15.1% year-over-year to RMB3,188 million, driven by solid growth of our China-based laboratory services and US-based laboratory services.
IFRS gross profit grew 3.9% year-over-year to RMB1,097 million. Gross profit margin was 34.4%, lower than the 38.1% achieved in the same period of 2019[2], mainly because of: (1) the COVID-19 impact on our Wuhan site and clinical research services business, and (2) an increase in share-based compensation expenses.
Non-IFRS gross profit grew 10.3% year-over-year to RMB1,224 million. Non-IFRS gross profit margin was 38.1% compared to 39.9% for the same period in 2019.
EBITDA grew 2.7% year-over-year to RMB746 million.
Adjusted EBITDA grew 22.1% year-over-year to RMB1,035 million.
IFRS net profit attributable to owners of the Company was down 21.6% year-over-year to RMB303 million. In First-Quarter 2020, we experienced a RMB105 million loss from the fair value change of our investment portfolio and a RMB84 million loss of equity pick up from our joint ventures and associates, primarily due to a decline in stock price as of March 31, 2020, of certain public companies in our investment portfolio. During the same period in 2019, we reported a RMB189 million loss from the fair value change of our investment portfolio and a RMB181 million gain of equity pick up from our joint ventures and associates.
Adjusted non-IFRS net profit attributable to owners of the Company grew 10.8% year-over-year to RMB576 million.
Adjusted diluted non-IFRS EPS increased by 9.4% to RMB0.35 versus the same period last year, while diluted EPS was down 25.0% to RMB0.18.[3]
[1] In the three months ended March 31, 2019 and three months ended March 31, 2020, we had a fully-diluted weighted average share count of 1,630 million and 1,638 million ordinary shares, respectively.

[2] If prepared under Accounting Standard for Business Enterprises of PRC, the gross profit grew 4.0% year-over-year to RMB1,098 million. Gross profit margin was 34.5%, lower than the 38.1% achieved during the same period in 2019.

[3] In the three months ended March 31, 2019 and three months ended March 31, 2020, we had a fully-diluted weighted average share count of 1,630 million and 1,638 million ordinary shares, respectively.

Management Comment

Dr. Ge Li, Chairman and CEO of WuXi AppTec, said, "We achieved solid growth in the first quarter of 2020, in spite of the COVID-19 impact on our Wuhan site, which was closed for almost two months, and dramatically reduced activities in our China clinical research services business. Our revenue grew 15.1% year-over-year to RMB3,188 million and our adjusted Non-IFRS net profit grew 10.8% year-over-year to RMB576 million, which was attributable to the timely implementation of our Business Continuity Plan. We maintained and continue to be in close communication with our global customers through video conferencing."

"For the three months ended March 31, 2020, we added over 240 new customers, including 128 global customers, and our number of active customers continued to exceed 3,900. We also continued to make progress across all business segments. As of March 31, 2020, our small molecule CDMO/CMO pipeline has grown to more than 1,000 active projects, including 42 projects in Phase III clinical trials and 22 in commercial manufacturing, and our cell and gene therapies CDMO business provided services for 35 clinical stage projects, including 24 projects in Phase I and 11 projects in Phase II/III. During the Reporting Period, our success-based drug discovery unit filed INDs for 6 new-chemical-entities for our customers and obtained 5 CTAs. As of March 31, 2020, we have cumulatively submitted 91 new-chemical-entities IND filings for our customers and obtained 62 CTAs."

Dr. Ge Li concluded, "The fundamentals of our business remain very strong. Our laboratories and facilities in China are fully operational and we expect to deliver a strong second quarter. Due to the spread of COVID-19 in the United States, our US operations will be negatively impacted in the second quarter, however, we expect the continued implementation of our Business Continuity Plan to mitigate some of this impact. We are determined to navigate through the COVID-19 crisis in partnership with our global customers, and to assume an even greater responsibility for keeping the R&D and manufacturing engine humming. We are confident that we will win back 2020 and deliver another year of strong growth."

First-Quarter 2020 Adjusted Non-IFRS Results

First-Quarter 2020 adjusted non-IFRS net profit attributable to owners of the Company grew 10.8% year-over-year to RMB576 million. This adjusts for share-based compensation expenses, listing expenses and convertible bonds issuance expenses, fair value gain or loss from conversion option of convertible bonds, foreign exchange-related effects, amortization of intangible assets acquired in business combinations, realized/unrealized gains or losses from our venture investments and realized/unrealized gains or losses from our joint ventures.

On April 29, 2020 LabCorp(or the Company) (NYSE: LH) reported results for the first quarter ended March 31, 2020 (Press release, LabCorp, APR 29, 2020, View Source [SID1234556736]).

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"First and foremost, we are extremely proud of our dedicated and mission-driven colleagues around the world who are working tirelessly to develop and process COVID-19 diagnostic tests, to generate insights about the virus through innovative partnerships with leading companies like Adaptive Biotechnologies and Microsoft, Ciox Health, and Pacific Biosciences, and to accelerate the development of treatments and vaccines that will aid pandemic preparedness and prevention efforts," said Adam Schechter, president and CEO of LabCorp. "During the quarter we delivered solid performance across the company, especially considering the challenges associated with the COVID-19 pandemic. Looking forward, despite the unpredictability of this health crisis, we are well positioned financially and strategically to continue to serve our customers and drive long-term shareholder value. We stand ready to serve and support patients, and we will continue to do everything we can, as quickly as possible, to support the global response."

Consolidated Results

First Quarter Results

Revenue for the quarter was $2.82 billion, an increase of 1.2% over $2.79 billion in the first quarter of 2019. The increase in revenue was due to acquisitions of 3.4%, partially offset by the disposition of a business of 0.5% and lower organic revenue of 1.8%. The lower organic revenue includes the estimated negative impact from COVID-19 of 4.9% and lower Medicare and Medicaid pricing as a result of PAMA of 0.7%.

Operating loss for the quarter was ($192.6) million, compared to operating income of $318.2 million in the first quarter of 2019. The decrease in operating income was primarily due to the estimated negative impact from COVID-19 (including the impairments to goodwill and other assets), higher personnel costs (primarily driven by merit increases and one additional payroll day), and PAMA, partially offset by other organic growth, acquisitions, and LaunchPad savings. The Company recorded restructuring charges, special items, impairments, and amortization, which together totaled $558.5 million in the quarter, compared to $93.2 million during the same period in 2019. This increase includes COVID-19 related impairments on goodwill and other assets of $437.4 million, or approximately 3.7% of the Company’s total goodwill and intangible assets. In addition, the Company recorded $21.9 million of other COVID-19 related costs. Adjusted operating income (excluding amortization, restructuring charges, special items, and impairments) for the quarter was $365.9 million, resulting in a 12.9% operating margin, compared to $411.4 million, or 14.7%, in the first quarter of 2019. The $45.5 million decline in adjusted operating income and 190 basis point decline in adjusted operating margin were due to the estimated negative impact from COVID-19 of $72 million and PAMA of $19.8 million.

Net losses for the quarter were ($317.2) million, compared to net earnings of $185.6 million in the first quarter of 2019. Diluted EPS were ($3.27) in the quarter compared to $1.86 in the same period in 2019. Adjusted EPS (excluding amortization, restructuring charges, special items, and impairments) were $2.37 in the quarter, a decrease of 9.5% compared to $2.62 in the first quarter of 2019.

Operating cash flow for the quarter was $203.8 million, compared to $165.8 million in the first quarter of 2019. The increase in operating cash flow was due to favorable working capital, partially offset by lower cash earnings as the result of COVID-19. Capital expenditures totaled $106.6 million, compared to $94.2 million a year ago. As a result, free cash flow (operating cash flow less capital expenditures) was $97.2 million, up 35.8% compared to $71.6 million in the first quarter of 2019.

At the end of the quarter, the Company’s cash balance and total debt were $323.6 million and $6.2 billion, respectively. During the quarter, the Company repurchased $100.0 million of stock, representing approximately 0.6 million shares.

First Quarter Segment Results

The following segment results exclude amortization, restructuring charges, special items, impairments, and unallocated corporate expenses.

LabCorp Diagnostics

Revenue for the quarter, adjusting out the increase in accounts receivable reserves as a result of the COVID-19 pandemic, was $1.70 billion, a decrease of 1.2% from $1.72 billion in the first quarter of 2019. The decrease in revenue was due to a 2.9% decline in organic revenue, partially offset by acquisitions of 1.7%. The organic revenue decline includes the estimated negative impact from COVID-19 of 5.4% and PAMA of 1.1%.

Total volume (measured by requisitions) decreased by 4.4% as organic volume declined by 6.1%, partially offset by acquisition volume of 1.6%. The decline in organic volume includes the estimated negative impact from COVID-19 of 7.3% due to reduced demand for testing, which declined 50% to 55% versus the Company’s normal daily levels at the end of the quarter. This reduction in demand impacted testing volumes broadly and was marginally offset by an increase in demand for COVID-19 tests. In addition, organic volume was negatively impacted by lower consumer genetics demand, mostly offset by an additional one-half revenue day and favorable weather. Revenue per requisition increased by 3.4% due to mix and acquisitions, partially offset by the negative impact from PAMA and the September 2019 nonrenewal of the BeaconLBS – UnitedHealthcare contract pertaining to the Florida market. The increase related to mix was primarily driven by the COVID-19 pandemic, which reduced the demand for routine testing at a rate greater than esoteric testing.

Adjusted operating income for the quarter was $254.2 million, or 14.9% of revenue, compared to $310.4 million, or 18.0%, in the first quarter of 2019. The $56.2 million decline in adjusted operating income and 310 basis point decline in adjusted operating margin were primarily due to the estimated negative impact from COVID-19 of $62 million and PAMA of $19.8 million, partially offset by price mix. In addition, the benefit of LaunchPad savings essentially offset the higher personnel costs (including one additional payroll day). The Company remains on track to deliver approximately $200 million of net savings from its three-year Diagnostics LaunchPad initiative by the end of 2021.

Covance Drug Development

Revenue for the quarter was $1.14 billion, an increase of 6.4% over $1.07 billion in the first quarter of 2019. The increase in revenue was due to acquisitions of 6.2% and organic growth of 1.6% (which includes the estimated negative impact from COVID-19 of 2.5%), partially offset by the disposition of a business of 1.2% and negative foreign currency translation of 0.1%.

Adjusted operating income for the quarter was $150.8 million, or 13.2% of revenue, compared to $138.0 million, or 12.8%, in the first quarter of 2019. The $12.8 million increase in adjusted operating income and 30 basis point increase in adjusted operating margin were primarily due to organic demand, acquisitions net of the disposition, and LaunchPad savings, partially offset by higher personnel costs and the estimated negative impact from COVID-19 of $12 million. The Company remains on track to deliver approximately $150 million of net savings from its three-year Drug Development LaunchPad initiative by the end of 2020.

Net orders and net book-to-bill during the trailing twelve months were $5.83 billion and 1.26, respectively. Backlog at the end of the quarter was $11.30 billion, unchanged from last quarter, and the Company expects approximately $3.9 billion of its backlog to convert into revenue in the next twelve months.

Outlook for 2020

Given the ongoing and rapidly changing nature of the COVID-19 pandemic, there is significant uncertainty regarding the duration and severity of the pandemic as well as any future government restrictions. As a result, the Company is withdrawing its 2020 financial guidance provided on February 13, 2020.

The Company has provided below some details on how COVID-19 is impacting LabCorp’s performance and some of the actions LabCorp is taking to help mitigate this impact as well as details regarding LabCorp’s liquidity.

COVID-19 Impact on Performance and Mitigating Actions LabCorp is Taking

LabCorp began the year with strong performance, in line with expectations; however, the Company has since been impacted by COVID-19, including overall customer caution as well as government restrictions and social distancing guidelines.

In LabCorp Diagnostics, demand for testing declined 50% to 55% versus the Company’s normal daily levels at the end of the first quarter. This reduction in demand impacted testing volumes broadly but was heavily weighted towards routine tests. This volume reduction in the base business appears to have stabilized. LabCorp expects to offset some of the volume shortfall by increasing capacity for its Serological Antibody tests to over 200 thousand tests per day by mid-May as well as increasing capacity for its Molecular COVID-19 tests (which include its at-home test kit offering).

In Covance Drug Development, performance has been challenged by COVID-19 due to actions clients are taking that are slowing clinical trial progress and the associated testing as well as reductions in trial site access in certain countries and interruptions in the supply chain that can temporarily delay study activity.

The Company is taking numerous actions to help mitigate the financial impact from the COVID-19 pandemic. Some of these actions include reducing our cash outflows through delaying certain capital expenditures, temporarily suspending its share repurchase program, and applying a heightened threshold to acquisition activity. The Company is also taking actions regarding its workforce including implementing furloughs; delaying hiring; reducing temporary and contract workers, intern positions, and overtime; suspending discretionary merit adjustment for all employees; and suspending 401(k) contributions for all U.S. employees. LabCorp is also taking actions to utilize available stimulus / CARES Act benefits including deferral of payroll taxes, CMS stimulus to providers, and suspension of Medicare sequestration.

Liquidity

The Company expects to deliver solid adjusted EPS and free cash flow in 2020. As of March 31, 2020, the Company had $324 million of cash and $924 million available under its revolving credit facility, which matures in 2022. During the fourth quarter of 2020, $412 million of the Company’s senior notes become payable. The Company maintains investment grade debt ratings and believes that it will be able to repay these notes with available cash on hand, cash generated from operations, borrowings under its revolving credit facility, or through refinancing in the public debt market. LabCorp’s term loan and revolving credit facility require LabCorp to maintain a leverage ratio of 4.0x debt to last twelve months EBITDA. Violation of that covenant could preclude LabCorp from borrowing on the revolving credit facility and trigger required repayment of the Company’s $375 million term loan. While LabCorp expects to maintain compliance with this covenant, the Company is having discussions with its banks to add future flexibility to this covenant, given the uncertainty related to the COVID-19 pandemic.

Use of Estimated COVID-19 Impact

The Company has provided in this press release the Company’s estimates for the net impact from COVID-19 on the Company’s revenue, operating income, operating margin, and Diagnostics’ volume. These estimates were determined using methodologies and assumptions that vary depending on the specific segment and situation. For LabCorp Diagnostics, estimates are based on comparisons to daily historical volume run rates prior to COVID-19. For Covance Drug Development, estimates are based on multiple factors including, but not limited to, discussions with clients/partners of measures that may delay clinical trial progress and the associated testing, volume reductions and location-specific actions to ensure worker safety in our facilities, the impact of remote versus in-person activities and services, and supply chain delays. The Company believes these estimates are useful to investors as an additional data point to consider in evaluating the Company’s operational performance in the quarter. It is the Company’s expectation that it will not be able to break-out the impact from COVID-19 in future quarters.

Use of Adjusted Measures

The Company has provided in this press release and accompanying tables "adjusted" financial information that has not been prepared in accordance with GAAP, including adjusted net income, adjusted EPS (or adjusted net income per share), adjusted operating income, adjusted operating margin, free cash flow, and certain segment information. The Company believes these adjusted measures are useful to investors as a supplement to, but not as a substitute for, GAAP measures, in evaluating the Company’s operational performance. The Company further believes that the use of these non-GAAP financial measures provides an additional tool for investors in evaluating operating results and trends, and growth and shareholder returns, as well as in comparing the Company’s financial results with the financial results of other companies. However, the Company notes that these adjusted measures may be different from and not directly comparable to the measures presented by other companies. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are included in the tables accompanying this press release.

The Company today is providing an investor relations presentation with additional information on its business and operations, which is available in the investor relations section of the Company’s website at View Source Analysts and investors are directed to the website to review this supplemental information.

A conference call discussing LabCorp’s quarterly results will be held today at 9:00 a.m. EDT and is available by dialing 844-634-1444 (615-247-0253 for international callers). The access code is 3137489. A telephone replay of the call will be available through May 13, 2020, and can be heard by dialing 855-859-2056 (404-537-3406 for international callers). The access code for the replay is 3137489. A real-time webcast of LabCorp’s quarterly conference call on April 29, 2020, will be available at LabCorp Investor Relations website

beginning at 9:00 a.m. EDT. This webcast will be archived and accessible through April 16, 2021.

On April 29, 2020 Aptorum Group Limited (NASDAQ:APM), a biopharmaceutical company focused on the development of novel therapeutics to address global unmet medical needs, reported financial results for the fiscal year ended December 31, 2019, and provided a business update (Press release, Aptorum, APR 29, 2020, View Source [SID1234556781]).

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Aptorum Group’s operational plans remain on track. In particular, the recently announced updates on SACT-1 (targeting neuroblastoma) and ALS-4 (targeting Staphylococcus aureus) remain on track for its pre-IND preparation work. The Company will continue to target IND submission in the second half of 2020, subject to regulatory review of the IND application. With the additional capital raised in February 2020, the Company is also on track to expand strategic initiatives including the discovery and development pipeline such as the recently announced initiative SACT-COV19 (targeting COVID-19 disease) and additional Smart-Act platform projects being SACT-2 and SACT-3, which will be announced in due course. The Company, together with the distributor, is also focused on the distribution of the recently announced non-hormonal based Dioscorea opposita bioactive nutraceutical supplement targeting woman’s health during the menopausal or post-menopausal cycles. In light of the global coronavirus situation, the Company would like to report that its day-to-day operations continue as normal.

Clinical Pipeline Update and Upcoming Milestones

In March 2020, Aptorum Group initiated an additional R&D program targeting the coronavirus group. The Company has completed initial screening under our existing Smart-ACT platform, a repurposed and new drug discovery platform, to select at least three potential candidates for further preclinical investigation against the new coronavirus disease, COVID-19, out of a library of more than 2,600 small drug molecules that were previously approved for other indications.

Announced further positive data from the current investigational new drug (IND)-enabling studies for ALS-4, a small drug molecule candidate for the treatment of infections caused by Staphylococcus aureus. Subject to positive completion of the current studies, Aptorum Group targets to submit IND for ALS-4 in the second half of 2020 and commence Phase 1 trials in North America.

Announced positive data and development in relation to our first repurposed drug candidate, SACT-1, for the treatment of neuroblastoma, a rare form of cancer that develops in infants and young children. Subject to completion of current validation studies, Aptorum Group targets to leverage the US FDA 505(b)(2) regulatory process pathway and make the IND submission for SACT-1 in the second half of 2020 and commence clinical trials in North America.

Corporate Highlights

In 2019, Aptorum Group entered into two separate promissory notes and line of credit agreements and obtained a $15 million line of credit facility.

Full year 2019 research and development expenses of $6.9 million, an increase of $3.8 million over the full year 2018.

In January 2020, Aptorum Group entered into a regional distribution agreement with Hong Kong-based Multipak Limited for the commercialization of our NLS-2 dietary supplement for women undergoing menopause and suffering from related symptoms. The Dioscorea opposita bioactive nutraceutical tablets have commenced production in Canada and will shortly be marketed under the brand name NativusWell.

In February 2020, Aptorum Group completed a capital raise of approximately USD10 million by a registered direct offering of 1,351,350 Class A ordinary shares and warrants to purchase 1,351,350 of its Class A ordinary shares.

Fiscal Year End Financial Results

Aptorum Group reported a net loss of $20.1 million in 2019, as compared to $15.1 million in 2018. The increase in net loss in 2019 was driven by the increase in research and development expenses due to the increase in consultation services for research and development projects.

Research and development expenses were $6.9 million in 2019 as compared to $3.1 million in 2018. The increase in research and development expenses in 2019 was primarily due to the increase in consultation services for R&D projects.

General and administrative fees were $7.4 million in 2019 as compared to $4.9 million in 2018. The increase in general and administrative expenses 2019 was mainly driven by the issuance of share options to our directors, employees, external consultants and advisors in 2019 as compensation of their services.

Legal and professional fees were $3.4 million in 2019 as compared to $1.8 million in 2018. The increase in legal and professional fees was mainly due to the increased business consultant services engaged in 2019 and the increased in token related expenses.

Aptorum Group ended 2019 with $5.3 million in cash and restricted cash as compared to $26.1 million as of December 31, 2018. The decrease in cash and restricted cash was mainly the result of the repayment of $13.6 million of convertible bonds and a net loss of $20.1 million during the year, partly offset by the loan from related parties of $6.3 million and adjustment of net non-cash expenses of $5.5 million.

On April 29, 2020, PTC Therapeutics, Inc. (the "Company"), reported that certain of the former equityholders of Agilis Biotherapeutics, Inc. ("Agilis"), and, for the limited purposes set forth in the agreement, Shareholder Representative Services LLC, entered into a Rights Exchange Agreement (the "Rights Exchange Agreement"), pursuant to which the Company agreed to issue 2,821,176 shares of its common stock (the "Common Stock Consideration") and paid $36,881,009 (the "Cash Consideration"), in the aggregate, to such former equityholders of Agilis (the "Participating Rightholders") in exchange for the cancellation and forfeiture by the Participating Rightholders of their rights to receive certain milestone-based contingent payments under the Agreement and Plan of Merger (the "Merger Agreement") by and among the Company, Agility Merger Sub, Inc., Agilis, and, solely in its capacity as the representative, agent and attorney-in-fact of the equityholders of Agilis, Shareholder Representative Services LLC, dated as of July 19, 2018, pursuant to which the Company acquired Agilis in 2018 (the "Acquisition") (Filing, 8-K, PTC Therapeutics, APR 29, 2020, View Source [SID1234556842]). Also on April 29, 2020, the Company issued 2,723,826 shares of the Common Stock Consideration to certain of the Participating Rightholders pursuant to the Rights Exchange Agreement, with the issuance of the remaining 97,350 shares of the Common Stock Consideration to certain of the Participating Rightholders who are former employees of Agilis or current or former employees of the Company to be deferred until the earlier of (i) December 15, 2020 or (ii) the date on which the Company files a registration statement on Form S-3 with respect to the resale of the shares of the Common Stock Consideration pursuant to the terms of the Rights Exchange Agreement, as further described below.
Pursuant to the terms of the Rights Exchange Agreement, the Participating Rightholders have canceled and forfeited their rights under the Merger Agreement to receive (i) $174.0 million, in the aggregate, of potential milestone payments based on the achievement of certain regulatory milestones and (ii) $37.6 million, in the aggregate, of $40.0 million in development milestone payments due upon the passing of the second anniversary of the closing of the Acquisition, regardless of whether the milestones are achieved.
The Rights Exchange Agreement has no effect on the Merger Agreement other than to provide for the cancellation and forfeiture of the Participating Rightholders’ rights to receive $211.6 million, in the aggregate, of the milestone payments described above. As a result, all other rights and obligations under the Merger Agreement remain in effect pursuant to their terms, including the Company’s obligation to pay up to an aggregate maximum amount of $22.4 million upon the achievement of certain development milestones (representing the remaining portion of potential development milestone payments after deducting the $37.6 million for which rights were canceled and forfeited pursuant to the Rights Exchange Agreement from the $40.0 million in development milestone payments that are due upon the passing of the second anniversary of the closing of the Acquisition), up to an aggregate maximum amount of $361.0 million upon the achievement of certain regulatory milestones (representing the remaining portion of potential regulatory milestone payments for which rights were not canceled and forfeited pursuant to the Rights Exchange Agreement), up to a maximum aggregate amount of $150.0 million upon the achievement of certain net sales milestones and a percentage of annual net sales for Friedreich ataxia and Angelman syndrome during specified terms, ranging from 2% to 6%, pursuant to the terms of the Merger Agreement.
Pursuant to the Rights Exchange Agreement, the Company has agreed to use commercially reasonable efforts to file as promptly as practicable after the date of the Rights Exchange Agreement, but in no event earlier than the date on which the Company files a Quarterly Report on Form 10-Q following the date of the Rights Exchange Agreement, a registration statement on Form S-3 with respect to the resale of the shares of the Common Stock Consideration issued to the Participating Rightholders pursuant to the Rights Exchange Agreement and to maintain the effectiveness of such registration statement until the six-month anniversary date of the Rights Exchange Agreement or such earlier time as all shares of the Common Stock Consideration covered by the registration statement have been sold, subject to certain exceptions and the provision of certain information by the Participating Rightholders. The Rights Exchange Agreement contains customary indemnification obligations of the Company and the former Agilis equityholders with respect to the registration statement.

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On April 29, 2020 Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage biopharmaceutical company focused on the development of precision medicines for the treatment of cancer, reported that it will report first quarter 2020 financial results after the close of U.S. financial markets on Monday, May 4, 2020 (Press release, Kura Oncology, APR 29, 2020, View Source [SID1234556737]). Kura’s management will host a webcast and conference call at 4:30 p.m. ET / 1:30 p.m. PT that day to discuss the financial results and provide a corporate update.

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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

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The live call may be accessed by dialing 877-516-3514 for domestic callers and 281-973-6129 for international callers and entering the conference code: 2085246. A live webcast and archive of the call will be available online from the investor relations section of the company website at www.kuraoncology.com.