ROSEN, SKILLED INVESTOR COUNSEL, Encourages Bancor v3 Liquidity Providers to Secure Counsel Before Important Deadline in Securities Class Action Against BProtocol Foundation, Bancor DAO, Galia Benartzi, Guy Benartzi, Eyal Hertzog, and Yehuda Levy

NEW YORK, May 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of U.S.-based investors, also called liquidity providers (“LPs”), in Bancor Version 3 (“Bancor v3”) between May 11, 2022 and May 11, 2023, inclusive (the “Class Period”). The lawsuit is against BProtocol Foundation, Bancor DAO, Galia Benartzi, Guy Benartzi, Eyal Hertzog, and Yehuda Levy (together, “Defendants”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 14, 2023.

SO WHAT: If you invested, or provided liquidity, in Bancor v3 during the Class Period and are a U.S. resident you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Bancor v3 class action, go to https://rosenlegal.com/submit-form/?case_id=16271 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 14, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the Defendants violated the federal securities laws and various state laws by offering and selling investment contracts to Bancor v3 liquidity providers, without registering under applicable federal securities laws as an exchange or broker-dealer, and without a registration statement in effect for the securities offered and sold. The lawsuit also alleges that the Defendants concealed and misrepresented material information concerning the risks associated with providing liquidity to Bancor v3.

To join the Bancor v3 class action, go to https://rosenlegal.com/submit-form/?case_id=16271 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8841687

Trenton Systems and Graid Technology Partner to Deliver Cutting-Edge HPC Solutions for Mission-Critical Sea, Land, Air, Space, & Cyberspace Applications

Trenton Systems now offers SupremeRAID™ GPU-based NVMe RAID controller, enabling maximum flexibility, best-in-class data protection, and superior SSD performance for high-intensity workloads at the tactical edge.

SANTA CLARA, CA / ACCESSWIRE / May 17, 2023 / Graid Technology, creators of award-winning SupremeRAID™ GPU-based RAID for PCIe 3, 4, and 5 deployments, today announced its partnership with Trenton Systems. US-based Trenton Systems is a leading designer and manufacturer of ruggedized, cybersecure, made-in-USA computer systems for defense, aerospace, test and measurement, industrial automation, and other major industries.

Related Image

Trenton Systems and Graid Technology aim to deliver secure HPC solutions that survive, thrive, and synergize at the tactical edge. SupremeRAID™ is a software-defined data protection solution deployed on a GPU for maximum SSD performance without consuming CPU cycles. Unlike traditional RAID, which bottlenecks performance and reduces ROI on NVMe SSD spend, SupremeRAID™ employs unique out-of-path RAID technology, so data travels directly from CPU to storage to deliver maximum SSD performance, comprehensive data protection, and unmatched flexibility.

“We are pleased to partner with Trenton Systems to deliver next-generation NVMe/NVMeoF storage solutions that offer a significant performance boost to real-time, mission-critical artificial intelligence (AI) and machine learning (ML) systems at the edge, as well as enabling maximum flexibility, best-in-class data protection, and superior SSD performance for high-intensity workloads,” said Leander Yu, President and CEO of Graid Technology.

“Trenton Systems is proud to partner with Graid Technology to provide our military, commercial, and critical infrastructure personnel with HPC solutions that eliminate traditional RAID bottlenecks and unleash the full power of high-performance edge computing,” said Yazz Krdzalic, VP of Marketing at Trenton Systems. “With SupremeRAID™ and NVMe SSDs, Trenton Systems and Graid Technology can deliver a true end-to-end solution that processes, analyzes, stores, and delivers critical intelligence in seconds to increase awareness and reduce response times.”

Learn more about SupremeRAID™ here or contact Trenton Systems for product information and availability.

______________________________________________

About Trenton Systems
Trenton Systems is a trusted computing innovator providing cybersecure, tactical edge computing solutions to the defense and aerospace industries. Established in 1989 and headquartered in Atlanta, Georgia, the company is a pioneer of made-in-USA computing solutions and has endured firmly and unwaveringly at the forefront of the high-performance computing industry for more than 30 years, designing, manufacturing, assembling, testing, and supporting customer-driven rugged computers that accelerate and underpin the world’s mission-critical programs, applications, and critical infrastructure processes. Learn more at trentonsystems.com.

About Graid Technology
Graid Technology Inc. is redefining performance standards for high-performance data protection. Headquartered in Silicon Valley, California with an R&D center in Taipei, Taiwan, our leadership is composed of a dedicated team of experts with decades of experience in the SDS, ASIC, and storage industries. SupremeRAID™ is the world’s only NVMe and NVMeoF RAID card to unlock the full potential of PCIe 3, 4, and 5 SSD performance: a single SupremeRAID™ card delivers 19 million IOPS and 110GB/s of throughput. For more information, visit graidtech.com.

Contact Information

Andrea Eaken
Director of Marketing, Americas & EMEA | Graid Technology
andrea.eaken@graidtech.com
949-742-9928

Related Files

SupremeRAID SR-1010 Brochures and Specs_April 2023.pdf
SupremeRAID SR-1000 Brochures and Specs_April 2023.pdf

SOURCE: Graid Technology

 

Sweegen’s Rebaudioside M receives full authorization for use in the United Kingdom

Bestevia Reb M expands sugar reduction solutions in the U.K.and is now available to food and beverage producers.

Rancho Santa Margarita, Calif., May 17, 2023 (GLOBE NEWSWIRE) — Global sweetness and flavor innovator, Sweegen has announced that its Bestevia® Rebaudioside M (Reb M) has been fully authorized for use in the United Kingdom (U.K.) This regulatory approval marks a significant milestone for Sweegen, as it becomes the first and only company to receive authorization for any steviol glycosides produced using alternative technologies in the U.K.

Reb M, a high-purity steviol glycoside derived from the stevia plant, is renowned for its clean and sugar-like taste profile. It offers a natural, zero-calorie sweetness solution, making it an ideal choice for food and beverage manufacturers seeking to reduce sugar content and provide healthier options to consumers. Sweegen’s nature-based sweeteners, including its Reb M, offer a scalable and cost-effective alternative to traditional sugar.

Brands in the U.K. have eagerly anticipated the authorization of Sweegen’s Bestevia Reb M during the initial formulation phase and tastings. They are actively collaborating with Sweegen’s food and beverage applications experts based at its EMEA U.K. Innovation Studio in Reading, England, to integrate this highly sought-after stevia ingredient, along with Sweegen’s outstanding taste modulation and unique sweeteners, into their formulations.

Damian Bellusci, Vice President of Sales EMEA/APAC at Sweegen, expressed his excitement about the authorization, stating, “We are extremely proud to be the pioneers in securing full authorization for Bestevia Reb M in the U.K. This milestone reaffirms Sweegen’s commitment to providing innovative, nature-based, and sustainable sweetening solutions to the industry. Reb M offers food and beverage manufacturers an exceptional tool to meet consumer demands for healthier products without compromising taste.”

The decision to authorize the bioconversion manufacturing method for steviol glycosides, including Reb M, was made by the Minister for Primary Care and Public Health in relation to England, the Welsh Ministers in relation to Wales, and the Minister for Public Health, Women’s Health and Sport in relation to Scotland. The authorization is per Article 10(1) of retained Regulation 1333/2008, fulfilling the requirements.

The authorized manufacturing method allows for using steviol glycosides, including Reb M, in the Great Britain (GB) market. The Regulations provide updated terms of authorization for using this method in GB, with the terms being similar to those in the European Union (EU) and Northern Ireland. For the latest information, referring to the relevant EU Regulations on the EUR-Lex website is recommended.

Casey McCormick, Vice President of Global Innovation at Sweegen, emphasized the significance of Reb M in driving product innovation. “The approval of Bestevia Reb M in the UK represents a very positive step forward for brands looking to improve the nutrition profile of their products. The clean, sweet taste of our Bestevia Reb M enables new approaches to reduce and eliminate sugar in a way that exceeds consumers’ expectations  and supports public health objectives to reduce sugar consumption.”

Hadi Omrani, Vice President of Technical and Regulatory Affairs at Sweegen, highlighted the rigorous safety and compliance standards behind Bestevia Reb M’s authorization. Omrani stated, “At Sweegen, we prioritize safety, quality, and regulatory compliance. Obtaining full authorization for Bestevia Reb M in the U.K. required thorough scientific evaluations and stringent assessments to ensure its safety for consumption. This achievement reflects our commitment to delivering superior products that meet the highest industry standards.”

Sweegen is dedicated to revolutionizing the sweetener market with innovative solutions that promote healthier choices without compromising taste. The full authorization of Bestevia Reb M in the U.K. reinforces Sweegen’s leadership in the nature-based sweetener space and positions the company as a trusted partner for food and beverage manufacturers worldwide.

Sweegen recently attained FEMA GRAS status for sweet proteins brazzein and thaumatin II, complementing steviol glycosides in food and beverage production. With the addition of brazzein and thaumatin II, Sweegen continues to expand its portfolio of safe and effective taste-modulating flavors that can help food and beverage manufacturers meet the demand for healthier and delicious products to align with consumers’ holistic approaches to wellness. Brazzein is the star ingredient in Sweegen’s newly launched Sweetensify flavors for taste modulation, an ideal flavors tool for brands seeking to create sugar-like tastes in food and beverages.

About Sweegen

Sweegen provides sweet-taste solutions for food and beverage manufacturers around the world.
We are on a mission to reduce sugar and artificial sweeteners in the global diet. Partnering with customers, we create delicious zero-sugar products that consumers love. With the best modern sweeteners in our portfolio, such as Bestevia® Rebs B, D, E, I, M, and N, and sweet proteins brazzein and thaumatin, along with our deep knowledge of flavor modulators and texturants, Sweegen delivers market-leading solutions that customers want, and consumers prefer. Well. Into the Future.

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. Sweegen’s actual results may differ from the estimates, assumptions, and other illustrative material contained herein, and consequently, a reader should not rely on these forward-looking statements as predictions of future events. These forward-looking statements include, without limitation, illustrative information regarding Sweegen’s bottom-up assumed market potential, assumed hit rate, and the resulting revenue based on these model inputs. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Industry, Market, and Other Data
In this press release, we rely on and refer to information and statistics regarding market participants in the sectors in which Sweegen competes and other data. We obtained this information and statistics from our own internal estimates and third-party sources, including reports by market research firms and company filings. We do not expressly refer to these sources. All of this information involves a number of assumptions and limitations, and the sources of such information cannot guarantee the accuracy or completeness of such information. The industry in which Sweegen operates is subject to a high degree of uncertainty and risk due to a variety of important factors, any of which could cause results to differ materially from those expressed in the estimates made by Sweegen or third parties.

Cautionary Statement Concerning Forward-Looking Statements
This press release contains forward-looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener, brazzein, and thaumatin. These statements are based on current expectations but are subject to certain risks and uncertainties, many of which are difficult to predict and beyond Sweegen’s control.

Relevant risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements and, therefore, should be carefully considered. Sweegen assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.

Attachments

Ana Arakelian
Sweegen
+1.949.709.0583
ana.arakelian@sweegen.com

GlobeNewswire Distribution ID 8841398

STEM INVESTOR NEWS: ROSEN, A LEADING LAW FIRM, Encourages Stem, Inc. f/k/a Star Peak Energy Transition Corp. Investors to Secure Counsel Before Important Deadline in Securities Class Action – STEM, STEM.WT, STPK.U

NEW YORK, May 16, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers and acquirers of the securities of Stem, Inc. f/k/a Star Peak Energy Transition Corp. (NYSE: STEM, STEM.WT, STPK.U): (i) pursuant and/or traceable to the offering documents issued in connection with the merger (“Merger”) consummated on April 28, 2021 by and among the Company, STPK Merger Sup Corp. (“Merger Sub”), and Stem, Inc., (“Legacy Stem”); and/or (ii) between March 4, 2021 and February 16, 2023, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 11, 2023.

SO WHAT: If you purchased Stem securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Stem class action, go to https://rosenlegal.com/submit-form/?case_id=16161 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 11, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: Throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the offering documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) Legacy Stem suffered from material weaknesses in internal control over financial reporting related to accounting for deferred cost of goods sold and inventory, certain revenue recognition calculations, and internal-use capitalized software calculations; (2) the Company had overstated Legacy Stem’s and its own post-Merger business and financial prospects; (3) Stem’s software revenue did not make up 100% of the Company’s services revenue; (4) Stem had overstated the benefits expected to flow from its AP partnership; and (5) as a result, the offering documents and defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Stem class action, go to https://rosenlegal.com/submit-form/?case_id=16161 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8840723

ROSEN, SKILLED INVESTOR COUNSEL, Encourages Teleperformance SE Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – TLPFY

NEW YORK, May 16, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the American Depositary Receipts (“ADRs”) of Teleperformance SE (OTC: TLPFY) between July 29, 2020 and November 9, 2022, both dates inclusive (the “Class Period”), of the important June 20, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Teleperformance ADRs during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Teleperformance class action, go to https://rosenlegal.com/submit-form/?case_id=15278 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 20, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Teleperformance’s growth in Core Services had been achieved, in part, by requiring its content moderators to engage in inappropriate, traumatic, abusive, and potentially criminal activities; (2) certain Teleperformance social content moderators had been trained with materials which included illicit images of child sexual exploitation; (3) contraband images had been included in Teleperformance Daily Required Reading reports for its content moderation staff; (4) Teleperformance had failed to safeguard child sexual abuse material and had potentially violated strict rules governing the handling of such materials, including rules relating to the National Center for Missing & Exploited Children; (5) Teleperformance had failed to provide adequate training or emotional and psychological support to content moderators exposed to egregious materials, including those exposed to extreme graphic violence and sexual images; (6) Teleperformance had imposed unreasonable time and performance targets that compounded the occupational trauma suffered by its content moderators; (7) Teleperformance had failed to implement or maintain the working conditions represented to investors, including by subjecting the Company’s content moderation workers to widespread occupational trauma without psychological support, and with paltry pay, punitive salary deductions, extensive surveillance, and aggressive union-busting tactics; and (8) as a result of the foregoing, Teleperformance was subject to a material, undisclosed risk of legal, regulatory, business, and reputational harm if the truth regarding the Company’s content moderation services, treatment of its content moderation workers, and handling of contraband materials was ever publicly revealed. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Teleperformance class action, go to https://rosenlegal.com/submit-form/?case_id=15278 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8840698

ROSEN, A LEADING LAW FIRM, Encourages Stanley Black & Decker, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – SWK

NEW YORK, May 16, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the common stock of Stanley Black & Decker, Inc. (NYSE: SWK) between October 28, 2021 and July 28, 2022, both dates inclusive (the “Class Period”), of the important May 23, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Stanley Black & Decker securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Stanley Black & Decker class action, go to https://rosenlegal.com/submit-form/?case_id=13771 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 23, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) rising interest rates, inflation, and trends in returning to work away from home were in fact quickly eroding then heightened demand for Stanley’s tools and outdoor products; (2) the heightened, extraordinary demand Stanley had enjoyed as a result of the COVID-19 pandemic in 2021 and 2022 was returning to 2019 pre-pandemic levels; (3) Stanley’s operations were already showing signs of slowing demand; (4) as a result of reorganization, share repurchasing, and dividend growth, Stanley lacked the cash to react with agility to changes in demand; (5) as a result of Stanley’s inability to react to a sharp decline in demand, the Company’s results and metrics, particularly sales volume, were severely negatively impacted; and (6) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Stanley Black & Decker class action, go to https://rosenlegal.com/submit-form/?case_id=13771 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8840717

Nyxoah Reports First Quarter 2023 Financial and Operating Results

REGULATED INFORMATION

Nyxoah Reports First Quarter 2023 Financial and Operating Results

Mont-Saint-Guibert, Belgium – May 16, 2023 10:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today reported financial and operating results for the first quarter of 2023.

Recent Financial and Operating Highlights

  •  Completed all 115 implants in the DREAM U.S. pivotal trial, with 12-month data expected in the first quarter of 2024.
  •  Initiated the modular PMA submission with the filing of the first module.
  •  Submitted 12-month data1 on the first 34 DREAM patients as a late-breaking abstract to SLEEP 2023 demonstrating a 65% AHI responder rate, a 76% ODI responder rate and safety in-line with expectations. The abstract will be presented in a late-breaking poster session on June 6th. These data are preliminary and not conclusive of final DREAM success.
  •  Implanted the first patients in the ACCCESS U.S. IDE pivotal study to treat complete concentric collapse (CCC). Implant completion expected in 2024.
  •  Hired Christoph Eigenmann as Chief Commercial Officer.
  •  Raised €19 million from new and historical shareholders including ResMed, Cochlear and Robert Taub, Nyxoah’s Chairman and Founder.
  •  Ended the quarter with 40 active German accounts and quarterly sales of €441 thousand.
  •  Expanded European market access with first implants in Austria.
  •  Strengthened the supply chain with the Belgium manufacturing facility receiving clearance from the EU notified body.

“In 2023, our focus is in the U.S. on DREAM patient follow up resulting in reaching the primary endpoints. I am excited by the data on the first 34 patients and look forward to sharing the full abstract results at SLEEP 2023 next month. Our increasing conviction in DREAM outcomes is accelerating investment in our commercial organization, starting with the addition of Christoph as Chief Commercial Officer,” commented Olivier Taelman, Nyxoah’s Chief Executive Officer. “Christoph’s hire, along with the €19 million raised from key investors, puts us in a strong position as we embark on our next stage of growth.”

First Quarter 2023 Results

UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION – CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS FOR THE THREE MONTHS ENDED MARCH 31, 2023  (in thousands)

        For the three months ended March 31
2023   2022
Revenue €441 €660
Cost of goods sold   (175) (289)
Gross profit €266 €371
Research and Development Expense   (6,157) (3,595)
Selling, General and Administrative Expense (5,551) (4,193)
Other income/(expense) 46 136
Operating loss for the period   €(11,396) €(7,281)
Financial income 625 1,576
Financial expense   (958) (788)
Loss for the period before taxes €(11,729) €(6,493)
Income taxes   (182) (208)
Loss for the period €(11,911) €(6,701)
     
Loss attributable to equity holders €(11,911) €(6,701)
Other comprehensive loss  
Items that may be subsequently reclassified to profit or
loss (net of tax)
Currency translation differences   (28) ( 102)
Total comprehensive loss for the year, net of tax €(11,939) €(6,803)
Loss attributable to equity holders   €(11,939) €(6,803)
Basic Loss Per Share (in EUR) €(0.460) €(0.260)
Diluted Loss Per Share (in EUR) €(0.460) €(0.260)

 UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION – CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF MARCH 31, 2023 (in thousands)

    As at
March 31
2023
  December 31 2022
ASSETS
Non-current assets      
Property, plant and equipment €2,721 €2,460
Intangible assets 42,447   39,972
Right of use assets 3,669 3,159
Deferred tax asset     50   47
Other long-term receivables 169 173
    €49,056   €45,811
Current assets      
Inventory     1,249   882
Trade receivables 1,499 1,463
Other receivables     1,419   1,775
Other current assets 1,663 1,284
Financial assets 62,403 76,968
Cash and cash equivalents 33,664 17,888
  €101,897 €100,260
Total assets €150,953 €146,071
   
EQUITY AND LIABILITIES
Capital and reserves    
Capital 4,859 4,440
Share premium 243,488   228,275
Share based payment reserve   6,582 5,645
Other comprehensive income 148   176
Retained loss   (130,051) (118,212)
Total equity attributable to shareholders €125,026 €120,324
     
LIABILITIES
Non-current liabilities    
Financial debt 8,381   8,189
Lease liability   3,112 2,586
Pension liability 25  
Provisions   74 59
Deferred tax liability  
€11,592 €10,834
Current liabilities    
Financial debt 390   388
Lease liability   711 719
Trade payables 5,012   4,985
Current tax liability 3,619   3,654
Other payables 4,603   5,167
  €14,335 €14,913
Total liabilities €25,927 €25,747
Total equity and liabilities €150,953 €146,071

Revenue

Revenue was €441,000 for the first quarter ending March 31, 2023, compared to €660,000 for first quarter ending March 31, 2022.

Cost of Goods Sold

Cost of goods sold was €175,000 for the three months ending March 31, 2023, representing a gross profit of €266,000, or gross margin of 60.3%. This compares to total cost of goods sold of €289,000 in the first quarter ending March 31, 2022, for a gross profit of €371,000, or gross margin of 56.2%.

Research and Development Expenses

Research and development expenses were €6.2 million for the three months ending March 31, 2023, versus €3.6 million for the prior year period, driven by an acceleration in clinical activities, notable the start of the ACCCESS study.

Selling, General and Administrative Expenses

Selling, general and administrative expenses rose to €5.6 million for the first quarter of 2023, up from €4.2 million in the first quarter of 2022. This was due primarily to increased commercial efforts in Germany and other European markets, as well as investments in Nyxoah’s corporate infrastructure. The Company expects to continue adding headcount across the organization ahead of the U.S. commercial launch.

Operating Loss

Total operating loss for the first quarter 2023 was €11.4 million versus €7.3 million in the first quarter of 2022. This was driven by the acceleration in the Company’s R&D spending, as well as ongoing commercial and clinical activities.

Cash Position
As of March 31, 2023, cash and financial assets totaled €96.1 million, compared to €94.9 million on December 31, 2022.  Total cash burn was approximately €4.9 million per month during the first quarter of 2023.

First Quarter 2023 Report
Nyxoah’s financial report for the first quarter of 2023, including details of the consolidated results, are available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

Conference call and webcast presentation 
Nyxoah will conduct a conference call open to the public today at 10:30pm CET / 4:30pm ET, which will also be webcast. To participate in the conference call, please access the following link to register for a dial-in number: https://edge.media-server.com/mmc/p/imeku8f7

A question-and-answer session will follow the presentation of the results. To access the live webcast, go to https://investors.nyxoah.com/events. The archived webcast will be available for replay shortly after the close of the call.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and US commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements 
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; and the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2021, filed with the Securities and Exchange Commission (“SEC”) on March 24, 2022, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313


1 For the trial to be successful, of the 115 patients, at least 63% of patients need to be AHI and ODI responders at the 12-month follow-up.

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