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Outlook Therapeutics® Confirms It Has No Exposure to Silicon Valley Bank

On March 13, 2023 Outlook Therapeutics, Inc. (Nasdaq: OTLK), a biopharmaceutical company working to develop and launch the first FDA-approved ophthalmic formulation of bevacizumab for use in retinal indications, reported that it is aware that the Federal Deposit Insurance Corp. has taken control of Silicon Valley Bank ("SVB") (Press release, Outlook Therapeutics, MAR 13, 2023, View Source [SID1234628573]).

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Outlook Therapeutics does not hold any deposits or investments at SVB.

Entry Into A Material Definitive Agreement

On March 13, 2023 NightHawk Biosciences, Inc. (the "Company") reported that it has entered into Amendment No. 5 dated March 11, 2023 ("Amendment No. 5") to the Rights Agreement dated March 11, 2018, as amended by Amendment No. 1 thereto ("Amendment No. 1") dated March 8, 2019, Amendment No. 2 thereto ("Amendment No. 2") dated March 10, 2020, Amendment No. 3 thereto ("Amendment No. 3") dated March 8, 2021, and Amendment No. 4 thereto ("Amendment No. 4") dated March 11, 2022 (collectively, the "Rights Agreement") by and between the Company and Continental Stock Transfer & Trust Company, as rights agent (Filing, 8-K, NightHawk Biosciences, MAR 13, 2023, View Source [SID1234628572]). Under the terms of Amendment No. 5, the expiration date of the Company’s stockholder rights plan has been extended to March 11, 2024, or such earlier date that the Company redeems or exchanges the rights as described in the Rights Agreement

A copy of Amendment No. 5 is attached as Exhibit 4.6 to this Current Report on Form 8-K and is incorporated by reference herein. A copy of the Rights Agreement as originally executed is included as Exhibit 4.1 to this Current Report on Form 8-K, Amendment No. 1 is included as Exhibit 4.2 to this Current Report on Form 8-K, Amendment No. 2 is included as Exhibit 4.3 to this Current Report on Form 8-K, Amendment No. 3 is included as Exhibit 4.4 to this Current Report on Form 8-K, and Amendment No. 4 is included as Exhibit 4.5 to this Current Report on Form 8-K and such agreements are incorporated herein by reference. The foregoing summary of Amendment No. 5 and the Rights Agreement are qualified in their entirety by reference to Exhibits 4.1, 4.2, 4.3, 4.4, 4.5 and 4.6

Item 3.03. Material Modification to Rights of Security Holders

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 3.03 by reference.

Nektar Therapeutics Issues Statement Confirming That It Does Not Hold Any Cash Deposits or Securities at Silicon Valley Bank

On March 13, 2023 Nektar Therapeutics (Nasdaq: NKTR) reported a statement confirming that it does not have any accounts at Silicon Valley Bank, and it does not hold any cash deposits or securities at Silicon Valley Bank (Press release, Nektar Therapeutics, MAR 13, 2023, View Source [SID1234628571]). At December 31, 2022, the company had approximately $505 million in cash and investments in marketable securities.

Moleculin Announces it Has No Exposure to Silicon Valley Bank Situation

On March 13, 2023 Moleculin Biotech, Inc., (Nasdaq: MBRX) (Moleculin or the Company), a clinical stage pharmaceutical company with a growing pipeline, including Phase 2 clinical programs, for hard-to-treat tumors and viruses, reported that it is aware that the Federal Deposit Insurance Corp. has taken control of Silicon Valley Bank (SVB) due to liquidity concerns (Press release, Moleculin, MAR 13, 2023, View Source [SID1234628570]). The Company confirms it does not hold any deposits or investments at SVB.

HUTCHMED Confirms No Assets Held at Silicon Valley Bank

On March 13, 2023 HUTCHMED (China) Limited ("HUTCHMED" or the "Company") (Nasdaq/AIM:HCM, HKEX:13) reported that it does not have any exposure to Silicon Valley Bank ("SVB") or Silicon Valley Bank UK Limited ("SVBUK") (Press release, Hutchison China MediTech, MAR 13, 2023, View Source [SID1234628569]). The Company does not hold any cash deposits or securities with SVB or SVBUK.