GOLDEN, CO / ACCESSWIRE / December 20, 2017 / Vitro Diagnostics, Inc. (OTC PINK: VODG), dba Vitro Biopharma, announced its CEO letter to its shareholders, including discussion of 2016 & 2017 results, and plans for 2018, including regenerative medicine initiatives for expanding indications.

Dear Shareholders,

In 2016-2017 we achieved:

Accelerated translation from research products to stem cell therapies.
Expansion of our facility costing $125,000 to comply with FDA Good Manufacturing Practices (GMP) for clinical manufacturing. Thus, positioning us for regulatory certifications.
Expanded our management team to include a seasoned executive as CFO who has executed numerous M&A transactions, raised substantial capital and grown revenues exceeding $250 million per year in his prior companies.
Added stem cell medical experts to our advisory board and clinical trial support team.
Increased revenues by 153% with the addition of 40% of total revenue derived from stem cell therapy products and services in 2017.
Filed 7 patents protecting novel technology for stem transplants, stem cell activation, and diagnostics.
Raised $400,000 in capital and financing to fund the expansion of cleanroom operations and new product development.

Vitro Biopharma announced record revenues for 2017 of $262,148 vs. $171,772 in 2016 based on both expansions of revenues from its core products, including cancer-associated fibroblasts used to accelerate development of immunotherapy of solid tumors and especially new revenues derived from stem cell therapies $104,919 in 2017 vs. $38,860 in 2016. The financial statements (unaudited) for 2016 & 2017 are included below.

The Company raised capital to install a GMP-compliant clean-room for manufacturing of all clinical products and develop a Quality Management System (QMS). This is important since clinical trial protocols require adherence to GMP guidelines issued by the FDA. The Company plans near-term completion of ISO (International Standards Organization) certification together with CLIA (Clinical Laboratory Improvement Act) certification, for manufacturing and clinical diagnostics, respectively. We also intend appropriate FDA filings to support our clinical manufacturing. Our current clinical trials include autism and anti-inflammation though collaborators in the Czech Republic and the Cayman Islands, respectfully. We also supply our first in class stem cell expansion culture medium (MSC-Gro™) to an Australian firm conducting clinical trials of MSC transplants for osteoarthritis (OA). All clinical manufacturing operations occur within a sterile clean room environment that is rigorously controlled to ensure sterility and the absence of contamination during the processing of cellular materials and cell culture media.

We also expanded our intellectual property (IP) to include a novel stem cell line patent application for use in numerous regenerative medicine applications including auto-immune disorders such as Lupus, cardiovascular disease, musculoskeletal conditions such as OA and various neurodegenerative disorders. Additional patent applications have been filed for treatment of neurological disorders by activation of stem cells within the brain. Our IP now allows proprietary therapies of neurological conditions including Parkinson’s disease, Alzheimer’s disease and traumatic brain injury (TBI), etc. Neurological conditions have been under-treated for many years while stem cell therapies offer potentially effective solutions. Hence, we plan commercialization of TBI therapies beginning in early 2018. There are more than 1.7 million TBI patients per year in the US while therapy consists of life-saving measures followed by rehabilitation with minimal therapeutic options. Recent advances in stroke recovery by stem cell therapy highlight the regenerative potential of stem cell therapies for neurodegenerative conditions and support the concept of brain regeneration by stem cell therapy. Our TBI initiative involves stem cell activation therapy and advanced diagnostics including biomarker profiling and brain scans.

Current management has decided to focus our operational resources to achieve rapid revenue growth & profitability in our high value-added Stem Cell therapies while seeking appropriate strategic alliances and partnerships. Our eventual goal is to be acquired by a larger firm with complementary resources to those of the Company. The company has made a strategic decision to focus its resources on expanding its revenue base driven by internal growth and limited capital raising. This decision will minimize shareholder dilution while building the company’s market value. We do not intend to maintain SEC reporting compliance because of the excessive cost burden of Audits and SEC legal compliance. The company will provide unaudited financial reports and publication of material transactions while maintaining future options to becoming fully reporting with the SEC if required or be acquired in an acquisition transaction.

In summary, Vitro Biopharma is advancing as a key player in regenerative medicine with 10-years’ experience in the development and commercialization of stem cell products for research, recognized by a Best in Practice Technology Innovation Leadership Award for Stem Cell Tools and Technology and a growing track record of successful translation to therapy. We plan to leverage our proprietary technology platform to the establishment of international Stem Cell Centers of Excellence and regulatory approvals in the US.

Sincerely yours,

James R. Musick, PhD.
President, CEO & Chairman of the Board

Forward-Looking Statements

Statements herein regarding financial performance have not yet been reported to the SEC nor reviewed by the Company’s auditors. Certain statements contained herein and subsequent statements made by and on behalf of the Company, whether oral or written may contain ”forward-looking statements.” Such forward-looking statements are identified by words such as ”intends,” ”anticipates,” ”believes,” ”expects” and ”hopes” and include, without limitation, statements regarding the Company’s plan of business operations, product research and development activities, potential contractual arrangements, receipt of working capital, anticipated revenues and related expenditures. Factors that could cause actual results to differ materially include, among others, acceptability of the Company’s products in the marketplace, general economic conditions, receipt of additional working capital, the overall state of the biotechnology industry and other factors set forth in the Company’s filings with the Securities and Exchange Commission. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:

Dr. James Musick
Chief Executive Officer
Vitro Biopharma
(303) 999-2130 Ext. 3
E-mail: jim@vitrobiopharma.com

Vitro Diagnostics Inc.

Year Ended Oct 31;

2017

2016

Income Statement

Stem Cell Therapies

104,919

38,860

Stem Cell Products

150,203

126,438

Other

7,026

6,474

Total Revenues

$
262,148

$
171,772

Cost of Goods Sold

104,707

65,130

Gross Profit

157,440

106,642

SGA Expenses

165,588

48,073

Office Expenses

27,986

20,512

Legal, Accounting, Banking Fees & Expenses

137,460

77,036

Laboratory R&D & Q.C. Expenses

122,170

92,386

Total Operating Expenses

453,203

238,006

Net Operating Profit (Loss)

(295,763)

(131,364)

Non-Cash Interest on Secured Notes Payable

(10,417)

Non-Cash Interest on Shareholder Debt

(144,018)

(125,868)

Net Income (Loss)

(450,198)

(257,232)

The company provides its financial information for investor purposes the results published however are not audited or necessarily SEC compliant.

Vitro Diagnostics Inc.

Year Ended Oct 31;

2017

2016

Balance Sheet

ASSETS

Cash

2,612

3,121

Accounts Receivable

40,882

32,979

Inventory

24,978

28,806

Fixed Assets

172,519

49,681

Intangible Assets

22,269

29,131

Total Assets

263,260

143,718

LIABILITIES

Accounts Payable

49,929

153,366

Short Term Credit Cards

53,365

41,717

Capital Lease Obligations

18,544

11,495

Current Liabilities

121,838

206,578

Secured Notes Payable

360,417

–

Capital Lease Obligations

74,178

–

Shareholder Accrued Compensation Payable

1,205,958

1,205,958

Shareholder Debts Payable

1,532,785

1,365,900

Long Term Liabitlites

3,173,338

2,571,857

Total Liabilites

3,295,176

2,778,436

SHAREHOLDERS EQUITY

Common Stock

21,432

20,372

Paid in Capital

5,508,387

5,456,447

Retained Earnings

(8,111,537)

(7,854,305)

Net Income

(450,198)

(257,232)

Total Equity

(3,031,916)

(2,634,718)

TOTAL LIABILITIES AND EQUITY

263,260

143,718

The company provides its financial information for investor purposes the results published however are not audited or necessarily SEC compliant.

STATEMENTS OF CASH FLOW

2017

For the year ended:

Net Loss

(450,198)

Non-Cash Depreciation

9,220

Amortization of Intangible Assets, net

(6,862)

Increase in current Assets

3,567

Increase in Current Liabilities

(84,740)

Principal payments on capital leases

(36,312)

Net cash used in operating activites

(115,126)

Cashflows from Investing Activities

Halo Intercompany Account, net

(37,532)

Purchases of equipment

(125,930)

Equipment Financed

120,459

Draws on lines of credit, net

11,648

Secured Notes Payable

360,417

Increase in Shareholder Debt

28,318

Non-Cash Services provided for Stock

53,000

Non-Cash Shareholder Debt Interest

154,435

Net Cash provided by Financing Activities

564,815

Net Change in Cash

(509)

Cash Beginning of the year

3,121

Cash End of the year

2,612

STATEMENT OF CHANGES IN SHAREHOLDER EQUITY

Shares

Par Value

Paid in Capital

Balance October 31, 2016

20,371,822

20,371

5,456,447

Services Paid with Stock 2017

1,060,000

1,060

51,940

Balance October 31, 2017

21,431,822

21,431

5,508,387

The company provides its financial information for investor purposes the results published however are not audited or necessarily SEC compliant.

SOURCE: Vitro Diagnostics, Inc.

ReleaseID: 484720

NEW YORK, NY / ACCESSWIRE / December 20, 2017 / Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City, is investigating Time, Inc. (“Time” or the “Company”) (NYSE: TIME) relating to the sale of the Company to Meredith Corporation. As a result of the merger Time shareholders are only anticipated to receive $18.50 in cash for each share of Time.

Click here for more information: http://monteverdelaw.com/investigations/m-a/. It is free and there is no cost or obligation to you.

The investigation focuses on whether Time and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company’s stockholders by 1) failing to conduct a fair process, 2) whether and by how much this proposed transaction undervalues the Company and 3) whether all material financial information has been disclosed regarding the tender offer set to expire on January 10, 2018.

Monteverde & Associates PC is a boutique class action securities and consumer litigation law firm that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013 and 2017, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 Top Rated Lawyer.

If you own common stock in Time and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:

Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2017 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

SOURCE: Monteverde & Associates PC

ReleaseID: 484723

A Previous Version of this Editorial Incorrectly Identified Cellectis S.A. as a Client of Orgenesis. Servier is the Correct Partner for the Development of a Manufacturing Process for UCART-19, which has been Corrected in the Following

ORGS is an overlooked cell therapy manufacturer and developer working with major biotech companies Servier, CRISPR (CRSP), and Adaptimmune (ADAP), among others.
A similar company is valued at 2x higher based on same sales figures, and Gilead just purchased a small cell therapy company for $567 mln.
Sales are growing at an impressive rate, and Orgenesis gets little or no credit for potentially revolutionary in-house R&D program. As investors realize this and the validation behind Orgenesis’ manufacturing, ORGS could rise by 100-1100%.

NEW YORK, NY / ACCESSWIRE / December 20, 2017 / Oncology-focused cell therapy companies have been one of the hottest investments of the last five years, culminating recently in Gilead Sciences’ (GILD) $12 bln purchase of Kite Pharma (KITE). The deal was all about Kite’s CAR-T drugs and technology, the first of which is now approved and on the American market as Yescarta.

One of the most overlooked – and possibly profitable – investments lies in ancillary cell therapy companies, like Biolife Solutions (BLFS), up 265% this year, and Orgenesis (ORGS).

ORGS has yet to receive the same level of attention as BLFS, but that could be about to change as the company’s cell therapy manufacturing business is booming, cell therapies, including CAR-T are about to take off, and the company has already signed multiple high-profile drug developers. Based on a comparison to peers, ORGS could appreciate by 100-200% in the coming months.

Partnerships With Big Companies Validating The Business

Publicly traded Orgenesis has two sides to their business: MaSTherCell provides contract development and manufacturing (CDMO) services to pharma and biotech companies developing or selling cell-based therapies. The company’s R&D program meanwhile centers on Autologous Insulin Producing (AIP) cells that can transforms a patient’s own liver cell into a functional insulin-producing cell (like is normally found in the pancreas) designed to provide long-term insulin independence for diabetics. This technology is early, but promising, and in a huge market – diabetes.

Cell therapies are therapeutics in which cellular material, often a living cell, is injected into a patient. Historically, the most common types of cell therapies have been for the replacement of mature, functioning cells through blood and platelet transfusions. Now, some the most promising therapies involve equipping immune cells with chimeric antigen receptors (CARs), which enable them to identify, target and destroy cancer cells. These are called CAR-T therapies, and in the next decade these are expected to become a $25 billion industry as they are in some cases proving curative in late-stage cancers.

The manufacturing process for these and other cell therapies is far more complex than traditional chemical drugs, like Tylenol, and there are few companies with the specialty and know-how to manufacture this emerging new class of drugs. Orgenesis’ MasTHerCell subsidiary allows larger companies to outsource the complicated development and manufacturing of these therapies, for both testing and commercial purposes.

MaSTherCell is a revenue-generating business for Orgenesis, and it’s growing at a significant clip as the market for cell therapies expands. Revenue for the fiscal year ending November 30, 2016 increased 115% to $6.4 million, from $3.0 million in fiscal 2015. So far in the nine months ended August 31, 2017 the company has already surpassed last year’s revenue, with $6.7 mln in sales!

Estimating for $2 to $2.5 mln in fourth quarter revenue, Orgenesis could be on track to announce between $8 and $10 mln in fiscal 2017 revenue in the new year, or almost 50% growth from the last 12 months. That kind of expansion won’t go overlooked as cell therapies come to the forefront, and the stock could be due for a major move higher based on growth potential and a look at a similar ancillary company.

MaSTherCell Manufacturing Business Alone Justifies 2-11X Of Upside?

T-cell therapies, like Yescarta and other CAR-Ts, are expected to become a $25 billion industry by 2030 according to Global Information, Inc., expanding at an annualized growth rate of over 101% during this time. Earlier this year there were over 280 T-cell therapies in development, and all of these developers will need commercial and manufacturing expertise. Orgenesis has already proven they’re both trusted and efficient. Their current manufacturing facility is in Belgium, which is why they’ve signed manufacturing and develpoment agreements with some of the most high-profile companies in Europe. Orgenesis has tremendous validation in the number and caliber of existing customers using MasTherCell.

Under a deal signed in June, MaSTherCell will will be responsible for the development and manufacturing of CRISPR Therapeutics AG’s (CRSP) CTX101 for use in clinical studies. CRISPR is one of the most respected new gene editing companies to go public, using the new CRSPR technology to cheaply and efficiently alter a patient or cell’s genes, and therefore its future. The company is worth almost $1 bln in the public markets. CTX101 is an allogeneic CAR T-cell therapy currently in development for the treatment of CD19 positive malignancies, just like Gilead’s YESCARTA (axicabtagene ciloleucel).

Orgenesis is also working with Servier on the development of a manufacturing platform for allogeneic cell therapies that can be stored and given to any patient regardless of origin, beginning with a CAR-T therapy called UCART-19. This technology was developed by Cellectis S.A. (NASDAQ: CLLS), licensed to privately held Servier, and is also partnered with Pfizer (PFE) for commercialization in the United States. Pfizer paid $80 million up front for rights to the drug once approved, and Cellectis is widely respected and now a billion dollar company on the NASDAQ. Other companies using MaSTherCell include Adaptimmune Therapeutics plc (ADAP) and Athersys, Inc (ATHX).

Cell therapies are expensive and difficult to produce, and Orgenesis is clearly pulling ahead of the crowd in terms of manufacturing expertise, clear based on their current partnerships.

We’ve seen the same kind of situation prove fruitful for another small ancillary cell therapy company in the last few years, called Biolife Solutions (BLFS). Shares in this company have risen by almost 300% in one year as the company started signing on high-profile cell therapy companies, like Kite Therapeutics, to use Biolife’s biopreservation materials. These are the storage mediums that aid in the cold-chain containment and transport of cell therapies. As investors picked up on the potential, BLFS rallied in a huge way.

Shockingly, BLFS today is doing the same revenue as Orgenesis, at around $10 mln in sales annually, and investors have yet to pick up on the pricing disparity!

Biolife is guiding for revenue to be in the range of $10.8 to $11 million, meaning that Orgenesis’ MasTherCell is just barely behind this company. Investors understand that Biolife has a strong future ahead as they sign on more cell therapy companies, much like Orgenesis, and the stock is trading at a market valuation of $80 million based on these 2017 results, or about 8 times their sales.

With the same kind of revenue figures, it stands to reason that ORGS should also be trading closer to $80 million, or almost 100% of upside for the stock. In this case, it’s just a matter of investor recognition of this emerging business that could take ORGS from $4.50 to $8.00 or more!

Further, Gilead Sciences made another acquisition shortly after buying Kite Pharma, by taking on Cell Design Labs (a private company) for $567 mln in cash and milestones. Street commentary has indicated that the deal was mostly to improve Gilead’s manufacturing capabilities, suggesting just how valuable these capabilities are in the emerging cell therapy industry. ORGS has some major catching up to do, as much as 1160%, if it were to trade at a similar deal price as the Gilead-Cell Design acquisition!

AIP Completely Overlooked Cure For Diabetes?

Orgenesis’ CDMO business is undervalued, but what of their R&D programs? The AIP program converts liver cells into functional insulin producing cells as a potential treatment for diabetes. Utilizing ‘cellular trans-differentiation’ to transform a patient’s own adult liver cell into a fully functional and physiologically glucose-responsive pancreatic-like insulin producing cell, Orgenesis hopes to provide Diabetes patients with long-term insulin independence through a one-time treatment. This is done occassionally today using islet cels, but the outcomes are inconsistent, and it’s not a common treatment.

Though early in development, these AIPs could provide a lasting, possibly curative approach to diabetes management. The company is on track to begin human testing next year, which could lead to human trial results in 2018. This technology is currently not getting any attention from investors, and with a successful trial, this technology could revolutionize diabetes care.

Institutional Investor Committed for 2018, Growth Could Spell Big Upside

Smart investors aren’t blind to the potential here, and one institutional investor is financing the company to the tune of $16 million over the course of 2017 and 2018 – the company should be sufficiently capitalized to continue their expansion for the next 12 months, a critical period as more cell therapies work their way through regulators and towards market launch and full-scale manufacturing.

Risks to the ORGS investment thesis include stiff competition from larger companies, like Gilead, that want to bring all of their manufacturing in-house. Orgenesis will probably need to build out a U.S. manufacturing facility in order to be involved in the cell therapy CDMO space in that region, and the company has limited capital available for major new buildouts like this.

With BLFS as the closest public comparable company, ORGS is clearly undervalued by as much as 50% based on their revenue generating business alone and current financial metrics. With the cell therapy segment growing rapidly and dozens more therapeutics expected to come to the market in the next decade, there’s little doubt for us that ORGS can continue to grow the CDMO business. Meanwhile R&D is underway and human studies to begin with their own AIP program, which could prove transformational in the huge diabetes market.

Seismic shifts in technology like the one occurring in cell therapies right now only happen once every decade or so, and the blossoming of these therapeutics might be comparable to the current interest in cryptocurrencies. Kite Pharma from its IPO to Gilead buyout returned 1050% to investors, and recent splashy cryptocurrency equities have made similar moves quickly as investors understand the potential for a major shift in the world of finance. The Bitcoin Investment Trust (OTCQX: GBTC) has rallied by nearly the same amount as KITE since its launch, while more recent entrant Xunlei Ltd (NASDAQ: XNET) has quadrupled on the potential of their mining hardware.

Considering how under-the-radar ORGS still is, and comparably undervalued next to similar companies, this could be worth 100-1000% of it’s current price within a few year’s time.

About One Equity Stocks

One Equity Stocks is a leading provider of research on publicly traded emerging growth companies. Our team is comprised of sophisticated financial professionals that strive to find the companies and management teams that will outperform the market and deliver investment returns to our subscribers. We are not a licensed broker-dealer and do not publish investment advice and remind readers that investing involves considerable risk. One Equity Stocks encourages all readers to carefully review the SEC filings of any issuers we cover and consult with an investment professional before making any investment decisions. One Equity Stocks is a for-profit business and is usually compensated for coverage of issuers we cover as well as other advisory work we perform. In the case of ORGS, we are reimbursed for actual costs we incur, received 50,000 shares of restricted stock, and anticipate receiving an additional 10,000 restricted shares per month from ORGS for Business Development, Capital Markets and Research Services. Please contact us at info@investorclick.net for additional information or to subscribe to our intelligence service.

SOURCE: One Equity Stocks, LLC

ReleaseID: 484725

NEW YORK, NY / ACCESSWIRE / December 20, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Array Biopharma Inc. (”Array” or the ”Company”) (NASDAQ: ARRY) and certain of its officers. The class action, filed in United States District Court, for the District of Colorado, and docketed under 17-cv-02848, is on behalf of a class consisting of investors who purchased or otherwise acquired Array securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Array securities between December 16, 2015 and March 17, 2017, both dates inclusive, you have until January 22, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and quantity of shares purchased.

[Click here to join this class action]

Array is a biopharmaceutical company focused on the discovery, development, and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s lead cancer drug binimetinib (MEK162) was evaluated in multiple trials and combinations, including a Phase 3 ”NEMO” study versus dacarbazine in unresectable or metastatic NRAS-mutant melanoma patients.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Array’s NEMO study failed to show sufficient clinical benefit of the binimetinib new drug application (”NDA”) in use for patients with NRAS-mutant melanoma; (ii) the Company was aware that this lack of supporting clinical data would not be sufficient to receive U.S. Food and Drug Administration (”FDA”) approval of binimetinib in use for patients with NRAS-mutant melanoma; and (iii) as a result of the foregoing, Array’s public statements were materially false and misleading at all relevant times.

On March 19, 2017, Array issued a press release announcing it had withdrawn from the FDA Division of Oncology Products 2 the NDA for binimetinib monotherapy for the treatment of NRASmutant melanoma, a rare, mutationally-driven subset of skin cancer.

On the following day, biotech analyst John Carroll from Endpoints News published an article entitled ”Array walks back its FDA pitch on binimetinib, derailing plans for commercial launch.” The article described why the Company’s decision concerning the binimetinib NDA came ”as a surprise to investors,” based on Array’s previous statements with respect to the drug’s approval prospects.

On this news, Array’s share price fell $1.43 or 13.54% over two trading days, to close at $9.13 on March 21, 2017.

On March 20, 2017, before the market opened, biotech analyst John Carroll from Endpoints News published an article entitled ”Array walks back its FDA pitch on binimetinib, derailing plans for commercial launch.”

On this news, Array’s share price fell $1.43 or 13.54% over two trading days, to close at $9.13 on March 21, 2017.

On May 10, 2017, during a conference call to discuss the Company’s financial and operating results for the third fiscal quarter ended March 31, 2017 (”Q3 2017 Conference Call”), analyst Michael Schmidt from Leerink asked about the reasons of the withdrawal of the binimetinib NDA in use for patients with NRAS-mutant melanoma. Ultimately, while attempting to blur the truth, Array’s CEO and Individual Defendant Squarer admitted that: (i) Array lacked sufficient data to support approval of the binimetinib NDA in use for patients with NRAS-mutant melanoma, (ii) as a result, Array was aware it would not be able to launch binimetinib in use for patients with NRAS-mutant melanoma.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP

ReleaseID: 484714

NEW YORK, NY / ACCESSWIRE / December 20, 2017 / Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City, is investigating Bonanza Creek Energy, Inc (“Bonanza” or the “Company”) (NYSE: BCEI) relating to the merger of the Company to SandRidge Energy, Inc. (“SandRidge”). As a result of the merger, Bonanza shareholders are only anticipated to receive $19.20 in cash and $16.80 shares of SandRidge stock in exchange for each share of Bonanza.

Click here for more information: http://monteverdelaw.com/investigations/m-a/. It is free and there is no cost or obligation to you.

The investigation focuses on whether Bonanza and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company’s stockholders by 1) failing to conduct a fair process, 2) whether and by how much this proposed transaction undervalues the Company by and 3) failing to disclose all material financial information in connection with the upcoming shareholder meeting.

Monteverde & Associates PC is a boutique class action securities and consumer litigation law firm that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013 and 2017, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017 Top Rated Lawyer.

If you own common stock in Bonanza and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:

Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC

The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2017 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

SOURCE: Monteverde & Associates PC

ReleaseID: 484722

NEW YORK, NY / ACCESSWIRE / December 20, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Alkermes plc (“Alkermes” or the “Company”) (NASDAQ: ALKS) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 17-cv-09178, is on behalf of a class consisting of investors who purchased or otherwise acquired Alkermes securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Alkermes securities between February 24, 2015, and November 3, 2017, both dates inclusive, you have until January 22, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and amount of shares purchased.

[Click here to join this class action]

Alkermes plc is a biopharmaceutical company focused on the development of treatments for central nervous system disorders such as addiction, schizophrenia, depression, and diabetes. The Company’s marketed products include Vivitrol (naltrexone for extended-release injectable suspension), a treatment for alcohol and opioid dependence.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Alkermes systemically engaged in deceptive marketing campaigns to influence policymakers to use Vivitrol in addiction treatment programs over more scientifically proven and efficacious alternatives; (ii) the foregoing conduct, when disclosed, would foreseeably subject Alkermes to heightened regulatory and legislative scrutiny; (iii) accordingly, the Company’s revenues derived from Vivitrol during the Class Period were unsustainable; and (iv) as a result of the foregoing, Alkermes shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.

On June 11, 2017, The New York Times published an article entitled, “Seizing On Opioid Crisis, a Drug Maker Lobbies Hard for its Product.” The article described Alkermes’ aggressive efforts to market Vivitrol while denigrating the efficacy of other addiction treatments.

On this news, Alkermes’ share price fell $2.19, or 3.55%, to close at $59.47 on June 12, 2017

On November 6, 2017, U.S. Senator Kamala Harris announced the opening of an investigation into Alkermes’ sales practices for Vivitrol. Senator Harris specifically stated that the Company “aggressively marketed” its medication, convincing judges and prison officials to use it rather than more proven addiction- treatment products, and spent hundreds of thousands of dollars lobbying policymakers. According to Harris, Alkermes promoted Vivitrol by using a “speaker’s bureau composed of doctors paid to promote the drug.”

On this news, Alkermes’ share price fell $2.23, or 4.37%, to close at $48.76 on November 6, 2017.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP

ReleaseID: 484713

NEW YORK, NY / ACCESSWIRE / December 20, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Diana Containerships Inc. (“Diana” or the “Company”) (NASDAQ: DCIX) and certain of its officers during an expanded class period, which begins on June 9, 2016, and ends October 3, 2017, inclusive (the “Class Period”). The class action, filed in United States District Court, Eastern District of New York, and docketed under 17-cv-07329, is on behalf of a class consisting of investors who purchased or otherwise acquired Diana securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Diana securities between June 9, 2016, and October 3, 2017, both dates inclusive, you have until December 22, 2017, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

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Diana Containerships Inc., through its subsidiaries, operates in the seaborne transportation industry in Greece. It owns and operates containerships, as well as focuses on containership acquisition opportunities. The Company also engages in chartering of its vessels.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) through his control of Diana, Symeon Palios (“Palios”) caused Diana to sell its common shares and securities convertible into common shares to an entity named Kalani Investments Limited (“Kalani”) at a significant discount to market price and to file registration statements so that Kalani could resell these shares into the market; (ii) when Kalani’s sales of Diana stock caused the price of Diana stock to decline, the Company would reverse split the stock, causing a certain number of outstanding shares to be merged into a single share, and thereby raise the price of Diana stock; (iii) then Diana would again sell securities to Kalani and the same pattern of transactions would ensue; (iv) Defendants failed to disclose the true purpose of the transactions and related stock issuances and reverses, to provide Diana with financing that benefited Palios and his related companies and family members and otherwise funnel money to Company insiders; and (v) as a result of the foregoing, Diana’s public statements were materially false and misleading at all relevant times.

By October 3, 2017, as a result of defendants’ ongoing dilutive and manipulative conduct, the price of Diana common stock had declined to close at $0.47 per share on an unadjusted basis. At this share price, Diana had a market capitalization of less than one million dollars, despite having raised millions of dollars from investors since January 2017.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP

ReleaseID: 484711

Small Cap Special Situation Hedge Fund, Hershey Strategic Capital, Invests $1 Million into Snap Interactive Common Stock; Adam Hershey to Act as an Advisor

NEW YORK, NY / ACCESSWIRE / December 20, 2017 / Snap Interactive, Inc. (“SNAP,” the “Company,” “we,” “our,” or “us”) (OTCQB: STVI), a leading provider of live video social networking applications building on blockchain and other innovative technologies, today announced that it has completed a private placement of 200,000 shares of common stock to Hershey Strategic Capital, LP at a price of $5.00 per share. SNAP also announced that small cap investment veteran Adam Hershey, Managing Member of Hershey Strategic Capital, has agreed to advise the Company on matters related to the Company’s capital markets strategy. SNAP intends to use the net proceeds from the offering for general corporate purposes, including development of the Company’s blockchain product initiatives.

Alex Harrington, SNAP’s Chief Executive Officer, commented, “We are extremely excited about the continued momentum we are experiencing with our blockchain initiatives and this additional capital is expected to allow us to accelerate those programs. We believe that SNAP is well positioned to benefit as blockchain technology evolves, and we believe an investment from a high-quality financial partner such as Adam Hershey of Hershey Strategic Capital is value enhancing. Adam’s capital markets expertise is invaluable and we are pleased to have the opportunity to work together.”

Adam Hershey, Managing Member of Hershey Strategic Capital, commented, “SNAP has assembled an exceptional team around their blockchain initiatives and I am delighted to extend both financial and strategic support to further the Company’s business objectives.”

The shares of common stock issued to Hershey Strategic Capital have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws.

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

About Snap Interactive, Inc.

Snap Interactive, Inc. is a leading provider of live video social networking applications building on blockchain and other innovative technologies. SNAP’s product portfolio includes Paltalk and Camfrog, which together host one of the world’s largest collections of video-based communities, and Backchannel, a secure video messaging app built on blockchain, due to launch in 2018. The Company also offers FirstMet, a prominent interactive dating brand serving users 35 and older. The Company has a long history of technology innovation and holds 26 patents related to video conferencing and online gaming.

For more information, please visit http://www.snap-interactive.com.

To be added to our news distribution list, please visit http://www.snap-interactive.com/investor-relations/investor-alerts

IR Contact:

IR@snap-interactive.com

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with general economic, industry and market sector conditions; the ability to effectively develop and incorporate blockchain technology into the Company’s applications; integrate the operations of the Company and AVM; the timing and amount of any future repurchases of the Company’s common stock, if any; user acceptance of our updated applications; the Company’s ability to institute corporate governance standards or achieve compliance with national securities exchange listing requirements; the Company’s future growth and the ability to obtain additional financing to implement the Company’s growth strategy; the ability to increase or recognize revenue, decrease expenses and increase the number of active subscribers, new subscription transactions or monthly active users; the ability to enter into new advertising agreements; the Company’s ability to generate positive cash flow from operations; the ability to diversify new user acquisition channels or improve the conversion of users to paid subscribers; the ability to anticipate and respond to changing user and industry trends and preferences; the intense competition in the online dating marketplace; the ability to release new applications or derive revenue from new applications; and circumstances that could disrupt the functioning of the Company’s applications. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov.

All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.

SOURCE: Snap Interactive, Inc.

ReleaseID: 484699