Skip to main content
Monthly Archives

August 2021

Bone Therapeutics strengthens its financial structure with

By Financial structure No Comments


Disbursement offer for the first tranche of € 8.0 million, payment of which is expected in September.

Issue of warrants to the EIB and Patronale Life.

Renegotiation of the loan with Patronale Vie.

Gosselies, Belgium, August 27, 2021, at 9 a.m.: 00 h CESTBONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), a biotechnology company focused on the development of innovative cell therapies addressing unmet medical needs in orthopedics and other diseases, today announced that it has received a disbursement offer from the European Investment Bank (EIB) for the first tranche of € 8.0 million of the € 16.0 million financing contract signed in July 2021. The first tranche of € 8.0 million will be released at the beginning of September 2021.

The receipt of the EIB’s disbursement offer for this first tranche follows the approval of the associated warrants issued by the Extraordinary General Meeting (“Extraordinary general meeting”) Of Bone Therapeutics which took place on August 23, 2021. It resulted in the issue of 800,000 warrants for the benefit of the EIB.

As part of this agreement, Bone Therapeutics also announces the renegotiation of the 800 convertible bonds issued on May 7, 2020 (for an amount of 2 million euros) to Patronale Life in a loan subject to the same repayment conditions as the agreement with the BEI, and the issue of 200,000 additional warrants subscribed unconditionally by Patronale Vie under the terms and conditions decided by the Extraordinary General Meeting. The 800 convertible bonds held by Patronale Life will be canceled as soon as the first tranche of € 8.0 million has been paid by the EIB. The 800 convertible bonds issued on May 7, 2020 into Intégrale remain unchanged.

Each warrant will give its holder the right to subscribe to one Bone Therapeutics share with an exercise price of € 2.52. The warrants will be exercisable from the date of repayment of the tranche concerned.

“We are very happy to receive the first tranche of our financing agreement with the European Investment Bank. Aligning the repayment conditions of the convertible bonds issued in 2020 with the terms of this financing agreement is an additional asset to strengthen our cash flow, ” said Jean-Luc Vandebroek, CFO of Bone Therapeutics. “This support gives us increased financial visibility to pursue our development. We sincerely thank the EIB and our shareholders, whose confidence has enabled us to take these decisive steps in our development. ”

The specific terms and conditions applicable to warrants associated with EIB loans are available in the minutes of the Extraordinary General Meeting of 23 August 2021, in the Investors section of the Bone Therapeutics website.

About the EIB

The European Investment Bank (EIB) is the European Union’s long-term lending institution, owned by its member states. It makes long-term funding available for sound investments in order to contribute to the political objectives of the EU.

About bone therapy

Bone Therapeutics is a leading biotechnology company focused on developing innovative products to meet significant unmet needs in orthopedics and other diseases. The Company has a, diverse portfolio of cell and biologic therapies at different stages ranging from preclinical immunomodulation programs to mid to late stage clinical development for orthopedic conditions, targeting markets with large unmet medical needs and limited innovation.

Bone Therapeutics develops a new generation viscosupplement, JTA-004, currently in phase III development for the treatment of pain in osteoarthritis of the knee. Made up of a unique combination of plasma proteins, hyaluronic acid – a natural component of the knee’s synovial fluid and a fast-acting pain reliever, JTA-004 aims to provide additional lubrication and protection to the cartilage of the joint. arthritis and relieve arthritis pain and inflammation. The positive Phase IIb efficacy results in patients with osteoarthritis of the knee showed a statistically significant improvement in pain relief compared to a viscosupplement.

Bone Therapeutics’ core technology is based on its advanced allogeneic cell therapy platform with differentiated mesenchymal stromal cells (MSCs) from the bone marrow that can be stored at the point of use in the hospital. Currently in preclinical development, BT-20, the newest product candidate for this technology, targets inflammatory conditions, while the lead investigational drug, ALLOB, represents a unique and proprietary approach to bone regeneration, which transforms stromal cells undifferentiated into healthy cells. donors in bone formation cells. These cells are produced through Bone Therapeutics’ evolutionary manufacturing process. Following the approval of CTA by regulatory authorities in Europe, the Company initiated patient recruitment for the Phase IIb clinical trial with ALLOB in patients with difficult tibial fractures, using its optimized production process. ALLOB continues to be evaluated for others orthopedic indications including spinal fusion, osteotomy, maxillofacial and dental.

Bone Therapeutics cell therapy products are manufactured to the highest GMP (Good Manufacturing Practices) standards and are protected by a broad portfolio of IP (Intellectual Property) covering ten patent families as well as know-how. The Company is based in the BioParc in Gosselies, Belgium. More information is available at

For more information, please contact:

Bone Therapeutics SA
Miguel Forte, MD, PhD, President and CEO
Jean-Luc Vandebroek, Chief Financial Officer
Phone: +32 (0) 71 12 10 00
investor [email protected]

For media inquiries and Belgian investors:
Catherine haquenne
Phone: +32 (0) 497 75 63 56
[email protected]

International media inquiries:
Communications picture box
Neil Hunter / Michelle Boxall
Phone: +44 (0) 20 8943 4685
[email protected] / [email protected]

For French media and investor inquiries:
NewCap Investor Relations & Financial Communication
Pierre Laurent, Louis-Victor Delouvrier and Arthur Rouillé
Phone: +33 (0) 1 44 71 94 94
[email protected]

Certain statements, beliefs and opinions contained in this press release are forward-looking and reflect the Company or, where applicable, the current expectations and projections of the directors of the Company regarding future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by forward-looking statements. These risks, uncertainties and assumptions could have an unfavorable impact on the results and financial effects of the plans and events described herein. A multitude of factors, including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ materially from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Accordingly, the Company expressly disclaims any obligation or commitment to publish any update or revision to any forward-looking statement contained 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. Neither the Company, nor its advisers or representatives, nor any of its subsidiaries or its officers or employees guarantees that the assumptions underlying these forward-looking statements are free from errors and accepts no responsibility as to the future accuracy of the statements. forward-looking statements. statements contained in this press release or the actual occurrence of anticipated developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Source link

LPL Financial Reports Monthly Activity July 2021

By Financial reports No Comments

SAN DIEGO, August 19, 2021 (GLOBE NEWSWIRE) – LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly activity report for July 2021.

Total advisory and brokerage assets at the end of July were around $ 1.13 trillion, an increase of $ 17.6 billion, or 1.6%, from the end of June 2021.

Total new net assets for July stood at $ 10.0 billion(1), resulting in an 11.5%(2) annualized growth rate. This included $ 3.0 billion in M&T Bank brokerage assets which incorporated in July(3). Total new net advisory services assets amounted to $ 5.7 billion, resulting in a(2) annualized growth rate.

Total customer cash balances at the end of July stood at $ 48.5 billion, roughly stable from the end of June 2021. Net purchases in July were $ 6.5 billion.

(End of period $ in billions, unless otherwise indicated) July June Switch July Switch
2021 2021 H / M 2020 A / A
Advisory and brokerage assets(4)
Advisory assets 588.4 577.6 1.9% 392.7 49.8%
Brokerage assets 541.4 534.7 1.3% 399.2 35.6%
Total advisory and brokerage assets 1,129.9 1,112.3 1.6% 791.9 42.7%
New net assets(1)
New net advisory assets 5.7 11.2 n / m 2.9 n / m
New net brokerage assets 4.3 14.8 n / m 0.0 n / m
Total new net assets(5) 10.0 26.0 n / m 2.9 n / m
Net brokerage to advisory conversions 0.8 0.9 n / m 0.7 n / m
Customer cash balances
Insured cash account balances 34.4 34.1 0.9% 33.2 3.6%
Deposit cash account balances 7.9 7.6 3.9% 7.6 3.9%
Total bank transfer balances 42.2 41.7 1.2% 40.8 3.4%
Cash balances in money market accounts 4.3 5.0 (14.0%) 1.6 168.8%
Money market funds purchased 1.9 1.7 11.8% 2.8 (32.1%)
Total money market balances 6.3 6.7 (6.0%) 4.4 43.2%
Total customer cash balances 48.5 48.4 0.2% 45.1 7.5%
Net buying (selling) activity 6.5 6.0 n / m 2.9 n / m
Market indices
S&P 500 (end of period) 4 395 4,298 2.3% 3 271 34.4%
Effective Fed Funds rate (average bps) ten 8 25.0% 9 11.1%
(1) The new net assets for July do not include the results of the Waddell & Reed advisers, as these advisers entered the LPL platform towards the end of July 2021.
(2) Waddell & Reed’s total assets and net new assets were not included in the calculation of the July annualized growth rate of new net assets.
(3) By the end of July, $ 18.6 billion in client assets had been integrated from M&T Bank out of a total of $ 21.9 billion, of which $ 15.6 billion in client assets had been integrated. in June and $ 3.0 billion in client assets that were integrated in July.
(4) Assumes retention of approximately 98% of total Waddell & Reed assets at the end of June 2021 and approximately 2% of total assets will not be converted. This equates to $ 68.9 billion in total assets, including $ 33.5 billion in advice and $ 35.4 billion in brokerage.
(5) Total new net assets include inflows minus outflows, plus dividends, plus interest, minus advisory fees.
Note: As of July 2021, approximately 280 Waddell & Reed Associate Advisors became Financial Professionals with LPL Financial upon onboarding to LPL’s platform and will be considered new Net Advisors in Q3 2021.

For more information on these and other LPL Financial business metrics, please see the company’s most recent earnings announcement, which is available in the quarterly earnings section of .

About LPL Financière
LPL Financial was founded on the principle that the firm should work for the adviser, not the other way around. Today, LPL is a leader * in the markets we serve, supporting more than 19,000 financial advisors, and approximately 800 institutional investment programs and 450 independent RIA companies nationwide. We are unwavering in our commitment to the advisor-centric model and our belief that Americans deserve access to objective advice from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services and technological resources that allow them to perfectly manage their practice. And they have the freedom to manage their customer relationships because they know their customers better. Simply put, we take care of our advisors so that they can take care of their clients.

* AIR Custodian (Cerulli Associates, 2019 US RIA Marketplace Report)
1st independent broker in the United States (based on total revenues, Financial Planning magazine June 1996-2020)
N ° 1 in brokerage services on behalf of third parties to banks and credit unions (TPM Annual Report 2019-2020 by Kehrer Bielan Research & Consulting)
Fortune 500 in June 2021

Securities and advisory services offered by LPL Financial LLC, a registered investment advisor. FINRA / SIPC member.

Throughout this communication, the terms “financial advisers” and “advisers” are used to refer to the registered representatives and / or representatives of the investment advisers affiliated with LPL Financial LLC. We regularly disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

Forward-looking statements
Statements in this press release regarding the number of advisers that LPL expects to reflect as net new advisers in the third quarter of 2021, and any other statements that are not related to current facts or conditions or which are not purely historical, constitute forward-looking statements. statements. These forward-looking statements are based on the historical performance of the Company and its plans, estimates and expectations as at August 19, 2021. Forward-looking statements do not guarantee that future results, plans, intentions or expectations expressed or implied will be achieved. The matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, legislative, regulatory, competitive and other factors, which may cause actual financial or operational results, levels of The activity or timing of events is materially different from those expressed or implied by forward-looking statements. Significant factors that could cause or contribute to such differences include the determination of the newly integrated partners of Waddell & Reed to terminate their affiliation with LPL Financial, as well as the other factors set out in Part I, “Section 1A. Risk Factors ”in the Company’s 2020 Annual Report on Form 10-K, as may be amended or updated in the Company’s Quarterly Reports on Form 10-Q or other documents filed with the Securities and Exchange Commission. Except as required by law, the Company specifically disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, even if its estimates change, and you should not rely on any statements contained herein as representing the views of the Company as of any date subsequent to the date of this press release.

Investor Relations – Chris Koegel, (617) 897-4574
Media Relations – Lauren Hoyt-Williams, (980) 321-1232

Source link

Thiruvananthapuram Corporation Passes Administration Report, Financial Statements

By Financial statement No Comments

A Thiruvananthapuram City Society Council meeting on Wednesday adopted the annual administrative report for 2019-2020 and the annual financial statements for 2020-2021, after more than two hours of intense debate.

Mayor Arya Rajendran said changes, if necessary, would be made to the financial statements, based on certain discrepancies, as some of the opposition advisers pointed out.

The reports were presented to council for discussion in accordance with requests raised by opposition councilors at a previous council meeting. Bharatiya Janata Party (BJP) advisers Anilkumar and Karamana Ajith alleged that there were discrepancies in the number of vehicles owned by the company, according to the administrative report and in responses to questions from RTI.

Some vehicles were reported as missing in the administrative report. The advisers demanded that the Corporation file a complaint with the police and take action against the officials responsible for dereliction of duty. Standing committee chairman Dr Anil said he revealed the issue of missing vehicles at a previous council meeting and therefore BJP advisers should refrain from presenting it as their conclusion.

Ms Rajendran said a search committee had been formed to determine which vehicles were actually missing. Some of the vehicles had been abandoned in various places, as they were previously used for decentralized waste collection, which was no longer the case. The possibility of reusing some of these vehicles would be explored. A complaint would only be lodged with the police for vehicles that have actually disappeared.

Housing projects

BJP adviser MR Gopan also questioned the figures regarding housing projects in the administrative report. He said hardly any houses had been completed as part of the LIFE project in the company. The chairman of the social protection committee, S. Salim, denied these allegations, saying that the state had also increased funding for PMAY housing projects, in line with LIFE projects, and therefore gave more funds to beneficiaries for construction. more homes than all other states.

Tax liability

During the discussion of the annual financial statements, BJP adviser P. Ashokkumar alleged that the report was riddled with errors. There was a significant tax debt of ₹ 200 crore in the report. Details of people or institutions that owed taxes were to be made public, he said.

The ₹ 55 crore deputy mayor was part of the unpaid tax amount that had been passed on over the years. However, the remainder of the amount included expected government funds for this fiscal year.

Source link