On November 1, 2019, Varian Medical Systems, Inc. (the "Company") reported that entered into the Amendment No. 2 to Credit Agreement (the "Amendment") to its Credit Agreement dated as of April 3, 2018 (the "Credit Agreement"), by and among the Company, certain lenders party thereto, and Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer (Filing, 8-K, Varian Medical Systems, NOV 1, 2019, View Source [SID1234550401]). The Amendment, among other things, reduces the aggregate principal amount available under the revolving credit facility provided under the Credit Agreement from $1.8 billion to $1.2 billion, reduces the commitment fee, adds a $500 million sublimit for multi-currency borrowings, increases the letter of credit sublimit to $225 million, extends the maturity date from April 2023 to November 2024 and adds BNP Paribas and Goldman Sachs to the lender group.

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On November 1, 2019 Tetraphase Pharmaceuticals, Inc. (Nasdaq:TTPH), a biopharmaceutical company focused on commercializing its novel tetracycline XERAVA (eravacycline for injection) to treat serious and life-threatening infections, reported the completion of its previously announced registered direct offering to a healthcare-focused institutional investor priced at-the-market, of (i) 300,000 shares of common stock and accompanying warrants to purchase an aggregate of 300,000 shares of common stock, and (ii) pre-funded warrants to purchase up to an aggregate of 1,830,493 shares of common stock and accompanying warrants to purchase an aggregate of 1,830,493 shares of common stock (Press release, Tetraphase, NOV 1, 2019, View Source [SID1234550199]). Each share of common stock and accompanying common stock warrant were sold together at a combined price of $3.755, and each pre-funded warrant and accompanying common stock warrant were sold together at a combined price of $3.745. Each pre-funded warrant has an exercise price of $0.01 per share, is exercisable immediately and is exercisable until all of the pre-funded warrants are exercised in full. Each common stock warrant has an exercise price of $3.62 per share, is exercisable immediately and expires five years from the date of issuance.

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The net proceeds to the Company from the offering, after deducting the placement agent’s fees and other estimated offering expenses payable by the Company, are approximately $7.0 million. The Company intends to use the net proceeds from the offering for the commercialization of XERAVA as well as for working capital and other general corporate purposes.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

A shelf registration statement relating to the securities offered in the registered direct offering described above was filed with the Securities and Exchange Commission (SEC) on January 25, 2018 and declared effective by the SEC on February 5, 2018. The offering will be made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and the accompanying prospectus related to the offering has been filed with the SEC and may be obtained, for free by visiting EDGAR on the SEC website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered 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 November 1, 2019 Y-mAbs Therapeutics, Inc. (the "Company" or "Y-mAbs") (Nasdaq: YMAB), a late-stage clinical biopharmaceutical company focused on the development and commercialization of novel, antibody-based therapeutic products for the treatment of cancer, reported the closing of its public offering of 5,134,750 shares of its common stock, at a public offering price of $28.00 per share, which includes the exercise in full of the underwriters’ option to purchase 669,750 additional shares of common stock (Press release, Y-mAbs Therapeutics, NOV 1, 2019, View Source [SID1234550198]). The aggregate gross proceeds to Y-mAbs, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, were approximately $143.8 million. All of the shares of common stock were offered by the Company. Y-mAbs’ common stock is listed on The Nasdaq Global Select Market under the ticker symbol "YMAB."

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Morgan Stanley, J.P. Morgan and BofA Securities acted as the joint book-running managers for the offering. Wedbush PacGrow and H.C. Wainwright & Co. acted as co-managers for the offering.

A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the Securities and Exchange Commission (SEC) on October 30, 2019. A final prospectus supplement relating to the offering was filed with the SEC on October 31, 2019. Copies of the final prospectus relating to the offering are available on the SEC’s website at www.sec.gov. The prospectus and prospectus supplement relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014; J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, or by telephone at (866) 803-9204; or BofA Securities, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at [email protected].

The shares of common stock described above are being offered by Y-mAbs pursuant to its shelf registration statement on Form S-3 (Reg. No. 333-234034), including a base prospectus, that was filed with the SEC on October 1, 2019 and declared effective by the SEC on October 15, 2019. The securities are being offered only by means of a prospectus supplement and accompanying prospectus forming a part of the effective registration statement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

On November 1, 2019 Haemonetics Corporation (NYSE: HAE) reported that financial results for its second quarter and first half of fiscal 2020, which ended Sept. 28, 2019, are available on its Investor Relations website (Press release, Haemonetics, NOV 1, 2019, View Source [SID1234550192]).

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The Company is posting the earnings release and results tables that will be referenced on its webcast to its Investor Relations website.

Direct link to Earnings Release 2Q FY20:

View Source

Direct link to Results Tables 2Q FY20 That Will Be Referenced on Webcast:

View Source

The Company will host a conference call with investors and analysts to discuss and answer questions about the results at 8 a.m. ET on Nov. 1, 2019. The call can be accessed with the following information:

U.S. / Canada toll free (877) 848-8880; International (716) 335-9512
Conference ID required for access: 9166003
A live webcast of the call can be accessed on Haemonetics’ investor relations website.
Direct link to Conference Call Webcast: View Source

On November 1, 2019 Pulmatrix, Inc. (NASDAQ: PULM) reported its third quarter results (Press release, Pulmatrix, NOV 1, 2019, View Source [SID1234550191]).

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Q3 2019 Highlights

Pulmatrix achieved clinical and business milestones which reflect the Company’s progress. These milestones include the following:

Received regulatory approval for Poland and India to commence patient enrollment in its Pulmazole Phase 2 clinical trial – Pulmatrix now has approval in each country that has a clinical trial site
Received US Patent (Pat. No. 10376465) Covering iSPERSE Formulations for Pulmazole Program
"We are excited with the Pulmazole program momentum over the past quarter. With regulatory approval to commence patient enrollment now achieved in all countries, we activated 12 additional study sites in the third quarter and anticipate increased patient enrollments from the 19 study sites now active," said Ted Raad, chief executive officer of Pulmatrix. "In addition to the Pulmazole program progress, we continue to advance the PUR1800 program towards a Phase 1b study start in first half of 2020. Both the Pulmazole Phase 2 and the PUR1800 Phase 1b studies are fully funded with data read-outs expected in the second half of 2020."

Financials

As of September 30, 2019, Pulmatrix had $27.9 million in cash, compared to $2.6 million as of December 31, 2018. In April 2019, Pulmatrix completed a financing that resulted in $16.6 million of total gross proceeds and executed a Definitive Agreement with Cipla for the co-development and commercialization of Pulmazole. In early May 2019, Pulmatrix received a $22 million upfront payment from Cipla. Following the completion of the initiated Phase 2 clinical trial, Pulmatrix and Cipla will equally share costs related to the future development and commercialization of Pulmazole and will equally share worldwide free cash flow from future sales of Pulmazole.

Pulmatrix generated $1.4 million of revenue in the third quarter of 2019, compared to no revenues in the third quarter of 2018. The revenue for the third quarter of 2019 was the result of the recognition of income pursuant to the Cipla Agreement.

Research and development expenses for the third quarter of 2019 were $3.3 million, compared to $3.1 million for the same period last year. The increase was primarily due to increased clinical development costs on the Pulmazole project, partially offset by decreases in clinical development costs on the PUR1800 project and decreased employment costs. General and administrative expenses for the both third quarter of 2019 and for the third quarter of 2018 were $1.8 million.

Net loss was $3.6 million for the third quarter of 2019 and $4.8 million for the third quarter of 2018. The reduction in net loss was primarily due to the increase in revenue recognized.