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Home > Press > Harris & Harris Group Issues Business Update and Reports Financial Statements as of September 30, 2016 Abstract: Harris & Harris Group, Inc. (NASDAQ:TINY), reported today that, as of September 30, 2016, its net asset value and net asset value per share were $75,322,949 and $2.44, respectively. The Company's Quarterly Report on Form 10-Q may be accessed at http://ir.hhvc.com/sec.cfm . Review of Third Quarter 2016 During the third quarter of 2016, we continued to take steps to position the Company for potential future growth. We believe a number of accomplishments, including those by our portfolio companies during the quarter, have the potential to contribute to this goal. These steps and accomplishments include: We increased our investment income by 132 percent and decreased our net operating loss by 46 percent during the third quarter of 2016 as compared with the third quarter of 2015. We increased our investment income by 97 percent and decreased our net operating loss by 41 percent during the first nine months of 2016 as compared with the first nine months of 2015. A number of our portfolio companies announced financings and/or business milestones during the quarter including: D-Wave Systems, Inc., announced details of its most advanced quantum computing system, featuring a new 2,000 qubit processor. The company made the announcement at its inaugural users group conference in Santa Fe, New Mexico. D-Wave Systems, Inc., also announced the formation of D-Wave Government Inc., a U.S. subsidiary formed to provide D-Wave's quantum computer systems to the U.S. government. The company also announced the members of the subsidiary's independent board, which include prominent executives with extensive experience at U.S. government agencies including the Department of Energy, the Department of Defense, the National Science Board, the Defense Science Board and the Intelligence Community. HZO, Inc., announced a collaboration with Rakuten Kobo to protect its latest eReader, the Kobo Aura ONE. Mersana Therapeutics, Inc., announced that it has clearance from the FDA to begin a Phase 1 clinical trial for its antibody-drug conjugate therapy for cancer. In conjunction with this clearance, the company received a $20 million milestone payment from Takeda. The following announcements were made by companies we are building that are focused on precision health and medicine. Interome, Inc., announced that it is a co-organizer of the UnDx Consortium™. This organization brings together five precision medicine technology providers and prominent experts from medical centers and universities across the country to collaborate in an effort to produce new hypotheses for a set of seven patients struggling with undiagnosed diseases. The UnDx Consortium met to explore results of cutting-edge tests analyzing samples from these patients and their families. That meeting is the beginning of what is expected to evolve into an ongoing forum to explore the potential of combining precision medicine technologies to diagnose and treat disease. Muses Labs, Inc., presented data from a pilot study of its MEND Protocol for the treatment of early Alzheimer's disease at the Alzheimer's Association International Conference 2016. MEND Protocol is a multi-step cognitive evaluation process that uses advanced data processing technology to first assess which risk factors are present in an individual. Muses Labs, Inc., and Metabolon, Inc., announced a partnership to study and apply metabolomics in individuals with pre- and early-symptomatic cognitive decline and Alzheimer's disease. The companies stated that they expect to bring new clinical trial services and updated care protocols to the market. Metabolon, Inc., announced that it closed a round of financing of $15 million from a new investor, Essex Woodlands. EchoPixel, Inc., announced that its medical virtual reality system is ready for clinical implementation. The system is being distributed to customers in collaboration with the HP Zvr Interactive Virtual Reality Display and workstation. We also faced the following challenges during this quarter: Net asset value per share decreased from $2.88 as of December 31, 2015, to $2.44 as of September 30, 2016. Our price per share decreased from $2.20 as of December 31, 2015, to $1.39 as of September 30, 2016, and $1.25 as of November 8, 2016. Senova Systems, Inc., sold substantially all of its assets to an undisclosed buyer for an up-front payment and potential future milestone payments. Even if all of the milestone payments are received in full, we do not expect to recover our cost basis of approximately $4 million. The values of public equities, particularly those of microcapitalization companies, are highly volatile. The price per share and market capitalization of Adesto Technologies Corporation decreased in value from $3.28 at June 30, 2016, to $2.22 at September 30, 2016, and closed at $2.05 at November 8, 2016. Champions Oncology, Inc., decreased in value from $2.15 at June 30, 2016, to $1.68 at September 30, 2016, and closed at $1.70 at November 8, 2016. Enumeral Biomedical Holdings, Inc., decreased in value from $0.20 at June 30, 2016, to $0.18 at September 30, 2016, and closed at $0.14 at November 8, 2016. While the price per share and market capitalization of OpGen, Inc., increased in value from $1.52 at June 30, 2016, to $1.64 at September 30, 2016, the price per share of each company's common stock continues to trade significantly below the price per share at the time of each company's initial public listing. Additionally, the values of comparable public market companies that are inputs in determining the values of certain of our portfolio companies also decreased during the quarter. Our own stock price has been under considerable pressure from these and other headwinds. Even though the financings of some of our portfolio companies may have occurred at increases in price per share from prior rounds of financing, such increases may not be reflected in full in our values owing to other rights and preferences afforded to investors in those rounds of financing. This challenge, in part, limited the positive potential contribution to our net asset value per share by companies that completed such rounds of financing during the third quarter of 2016. Additional accomplishments and challenges can be found in the Management's Discussion and Analysis section of our Quarterly Report. As we have stated previously in our letters to shareholders and in our blog posts, our net asset value is and will continue to be impacted significantly by the volatility of the public markets as our portfolio companies mature through two mechanisms: 1) the values of publicly traded comparable companies become significant inputs to value; and 2) our portfolio companies become publicly traded. As of the end of the prior quarter, this volatility contributed significantly to a sharp decrease in our net asset value. As of the end of this quarter, the net decreases in value owing to our publicly traded portfolio companies were offset by net increases in our privately held portfolio companies. Please join us for our third quarter of 2016 shareholder update call on Tuesday, November 15, 2016, at 10:00 a.m. Eastern Time. SUMMARY OF FINANCIAL POSITION September 30, 2016 December 31, 2015 September 30, 2015 (Unaudited) (Audited) (Unaudited) Total Assets $ 82,422,674 $ 96,461,286 $ 94,158,008 Net Assets $ 75,322,949 $ 88,711,671 $ 86,974,196 Net Asset Value Per Share $ 2.44 $ 2.88 $ 2.80 Shares Outstanding 30,880,829 30,845,754 31,022,866 About Harris & Harris Group Harris & Harris Group is a publicly traded, internally managed business development company that builds transformative companies from disruptive science. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com, on Facebook at www.facebook.com/harrisharrisvc and by following on Twitter @harrisandharrisgroup. This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com and www.Facebook.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third party websites. For more information, please click If you have a comment, please us. Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.


News Article | August 14, 2015
Site: www.businesswire.com

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/8s6ttk/melanoma) has announced the addition of the "Melanoma - Pipeline Review, H1 2015" report to their offering. This report provides comprehensive information on the therapeutic development for Melanoma, complete with comparative analysis at various stages, therapeutics assessment by drug target, mechanism of action (MoA), route of administration (RoA) and molecule type, along with latest updates, and featured news and press releases. It also reviews key players involved in the therapeutic development for Melanoma and special features on late-stage and discontinued projects. This report features investigational drugs from across globe covering over 20 therapy areas and nearly 3,000 indications. The report is built using data and information sourced from This proprietary databases, Company/University websites, SEC filings, investor presentations and featured press releases from company/university sites and industry-specific third party sources, put together by This team. Drug profiles/records featured in the report undergoes periodic updation following a stringent set of processes that ensures that all the profiles are updated with the latest set of information. Additionally, processes including live news & deals tracking, browser based alert-box and clinical trials registries tracking ensure that the most recent developments are captured on a real time basis. The report enhances decision making capabilities and help to create effective counter strategies to gain competitive advantage. It strengthens R&D pipelines by identifying new targets and MOAs to produce first-in-class and best-in-class products. Partial list of the 200+ companied featured in this comprehensive report: For more information, including full list of companies mentioned, please visit http://www.researchandmarkets.com/research/8s6ttk/melanoma


Colorectal cancer (CRC) is the fourth most commonly diagnosed cancer and the second leading cause of cancer deaths in the United States. More than 50,000 people die of CRC each year and almost half of all newly diagnosed patients are in an advanced stage of cancer (metastatic CRC) when they are first diagnosed. Because of the relatively low response rates of cancer patients to different drug regimens, researchers with InSilico Medicine and Champions Oncology set out to find biological signals or biomarkers in cancerous tumors that might predict in advance whether a patient is likely to respond to a drug treatment. Researchers focused on cetuximab, which is an antibody used in the targeted treatment of CRC patients who do not have a mutation of the K-ras gene. Yet, despite its approval by the FDA for use in these patients, cetuximab is successful in 40 to 60% of these cases. According to a joint paper just released by Champions Oncology and InSilico Medicine, the two companies have identified a biological indicator that may predict in advance the likelihood that a specific patient will respond to cetuximab. If validated through clinical trials, researchers believe this “green light” tool will help oncologists make better decisions for patients. “We're thrilled to collaborate with Champions Oncology and Dr. David Sidransky at Johns Hopkins University. While Champions is the leader in personalized medicine, we specialize in big data analysis and signaling pathway analysis. Working together, we're the most promising competitor in personalized medicine,” said Alex Zhavoronkov, PhD, CEO of InSilico Medicine, Inc. “Utilizing our TumorGraft platform and signaling pathway analysis from InSilico Medicine, we may decipher pathway activation profiles in cancer patients that lead to a better personalized treatment,” said Keren Paz, PhD, Chief Scientific Office at Champions Oncology Inc. About InSilico Medicine InSilico Medicine, Inc. is a Baltimore-based company utilizing advances in genomics and big data analysis for in silico drug discovery and drug repurposing for aging and age-related diseases. The company utilizes the GeroScope™, OncoFinder™ , Pathway Cloud Intelligence™ and PharmAtlas™ packages for aging and cancer research, pursues internal drug discovery programs, and provides services to pharmaceutical companies. If you have any questions about the science of aging, bioinformatics, or InSilico Medicine's plan in anti-aging research and drug discovery, please call (443) 451- 7212 or visit: http://www.insilicomedicine.com.


HOLLISTON, Mass.--(BUSINESS WIRE)--Harvard Apparatus Regenerative Technology, Inc. (Nasdaq: HART), or HART, a biotechnology company developing bioengineered organs for clinical use, today announced the appointment of James McGorry, MBA, as Chief Executive Officer, effective July 6, 2015. Mr. McGorry has more than 25 years of experience as a life science business leader in biologics, personalized medicine and medical devices, including multiple product launches. He also has been a member of the HART Board of Directors since February 2013. “Jim is the ideal person to lead HART at this time,” said John F. Kennedy, Chairman of the Board of Directors at HART. “Jim brings his extensive experience developing, leading and growing life science businesses to our company. He spent 12 years in senior management roles at Genzyme, and as a key leader of the Bio Surgery business there Jim led the commercial development and launch of innovative tissue engineered products. He also brings extensive experience in the fields of personalized medicine and medical devices. For the past two years, Jim has provided invaluable insights as a member of our board, and we expect that HART will benefit greatly from his dedicated guidance as CEO.” Mr. Kennedy continued, “We also thank Tom McNaughton, our Chief Financial Officer, for the great work he has done as interim CEO. He and Saverio La Francesca, our Chief Medical Officer, have continued to drive forward our programs and collaborations that are crucial to our success.” “I’m eager to work more closely with the entire HART team to make bioengineered organs for the airways and esophagus available to patients,” said Mr. McGorry. “HART has the potential to change the way patients are treated with organ implants that the body integrates as its own. I look forward to working with the team and HART’s collaborators to make these goals a reality.” Mr. McGorry most recently served as Executive Vice President and General Manager, Translational Oncology Solutions for Champions Oncology and previously was Executive Vice President of Commercial Operations at Accellent. During his 12-year tenure at Genzyme, he held leadership positions across several therapeutic areas, including Bio Surgery, Cardiac Surgery, Oncology and Transplant. Mr. McGorry also was President of Clineffect Systems, an electronic medical records company. He began his life sciences career with Baxter Healthcare Corporation, where he spent 11 years in positions of increasing responsibility. Mr. McGorry also served as an officer in the United States Army for six years, including commanding a special operations Green Beret SCUBA detachment. Mr. McGorry has an MBA with a concentration in healthcare from Duke University, Fuqua School of Business, and a B.S. in engineering from the United States Military Academy at West Point where he was the president of his class. HART plans to provide a corporate update on its second quarter financial call in August following a business review by Mr. McGorry and the management team. About Harvard Apparatus Regenerative Technology Harvard Apparatus Regenerative Technology (HART) is a biotechnology company developing bioengineered organs for clinical use. Our first product, the HART-Trachea, is intended to replace or repair a trachea that has been severely damaged by either physical trauma or trachea cancer. The HART-Trachea technology has been used in several human trachea transplants to date approved under compassionate use exemptions, but none of the Company’s products are yet approved by a government regulatory authority for marketing. The trademark “Harvard Apparatus” is used under a sublicense agreement with Harvard Bioscience, which has licensed the right to use such trademark from Harvard University. Forward-Looking Statements Some of the statements in this press release are "forward-looking" and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements in this press release include, but are not limited to, statements relating to the availability and approval of the HART-Trachea or any other HART product candidates, such as the esophagus and bronchus, for patients and related surgeries; regulatory approval of the HART-Trachea or any other HART product candidates, including the esophagus and bronchus, by the FDA, EMA, MHRA or otherwise, which such approvals may not be obtained on a timely basis or at all; success with respect to any clinical trials and other regulatory approval efforts, commercialization efforts and marketing approvals of HART’s product candidates, including our HART-Trachea product, and the continued availability of a market for the HART securities. These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release, including, among other things, our ability to obtain and maintain regulatory approval for the biologic products, scaffolds, bioreactors and other devices and product candidates we pursue; the success of our clinical trials and products; our inability to operate effectively as a stand-alone, publicly traded company; plus other factors described under the heading “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014 or described in our other public filings. Our results may also be affected by factors of which we are not currently aware. The forward-looking statements in this press release speak only as of the date of this press release. Harvard Apparatus Regenerative Technology expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based.


HOLLISTON, Mass.--(BUSINESS WIRE)--Harvard Apparatus Regenerative Technology, Inc. (Nasdaq: HART), or HART, a biotechnology company developing bioengineered organs for clinical use, today announced the appointment of James McGorry, MBA, as Chief Executive Officer, effective July 6, 2015. Mr. McGorry has more than 25 years of experience as a life science business leader in biologics, personalized medicine and medical devices, including multiple product launches. He also has been a member of the HART Board of Directors since February 2013. “Jim is the ideal person to lead HART at this time,” said John F. Kennedy, Chairman of the Board of Directors at HART. “Jim brings his extensive experience developing, leading and growing life science businesses to our company. He spent 12 years in senior management roles at Genzyme, and as a key leader of the Bio Surgery business there Jim led the commercial development and launch of innovative tissue engineered products. He also brings extensive experience in the fields of personalized medicine and medical devices. For the past two years, Jim has provided invaluable insights as a member of our board, and we expect that HART will benefit greatly from his dedicated guidance as CEO.” Mr. Kennedy continued, “We also thank Tom McNaughton, our Chief Financial Officer, for the great work he has done as interim CEO. He and Saverio La Francesca, our Chief Medical Officer, have continued to drive forward our programs and collaborations that are crucial to our success.” “I’m eager to work more closely with the entire HART team to make bioengineered organs for the airways and esophagus available to patients,” said Mr. McGorry. “HART has the potential to change the way patients are treated with organ implants that the body integrates as its own. I look forward to working with the team and HART’s collaborators to make these goals a reality.” Mr. McGorry most recently served as Executive Vice President and General Manager, Translational Oncology Solutions for Champions Oncology and previously was Executive Vice President of Commercial Operations at Accellent. During his 12-year tenure at Genzyme, he held leadership positions across several therapeutic areas, including Bio Surgery, Cardiac Surgery, Oncology and Transplant. Mr. McGorry also was President of Clineffect Systems, an electronic medical records company. He began his life sciences career with Baxter Healthcare Corporation, where he spent 11 years in positions of increasing responsibility. Mr. McGorry also served as an officer in the United States Army for six years, including commanding a special operations Green Beret SCUBA detachment. Mr. McGorry has an MBA with a concentration in healthcare from Duke University, Fuqua School of Business, and a B.S. in engineering from the United States Military Academy at West Point where he was the president of his class. HART plans to provide a corporate update on its second quarter financial call in August following a business review by Mr. McGorry and the management team. About Harvard Apparatus Regenerative Technology Harvard Apparatus Regenerative Technology (HART) is a biotechnology company developing bioengineered organs for clinical use. Our first product, the HART-Trachea, is intended to replace or repair a trachea that has been severely damaged by either physical trauma or trachea cancer. The HART-Trachea technology has been used in several human trachea transplants to date approved under compassionate use exemptions, but none of the Company’s products are yet approved by a government regulatory authority for marketing. The trademark “Harvard Apparatus” is used under a sublicense agreement with Harvard Bioscience, which has licensed the right to use such trademark from Harvard University. Forward-Looking Statements Some of the statements in this press release are "forward-looking" and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements in this press release include, but are not limited to, statements relating to the availability and approval of the HART-Trachea or any other HART product candidates, such as the esophagus and bronchus, for patients and related surgeries; regulatory approval of the HART-Trachea or any other HART product candidates, including the esophagus and bronchus, by the FDA, EMA, MHRA or otherwise, which such approvals may not be obtained on a timely basis or at all; success with respect to any clinical trials and other regulatory approval efforts, commercialization efforts and marketing approvals of HART’s product candidates, including our HART-Trachea product, and the continued availability of a market for the HART securities. These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release, including, among other things, our ability to obtain and maintain regulatory approval for the biologic products, scaffolds, bioreactors and other devices and product candidates we pursue; the success of our clinical trials and products; our inability to operate effectively as a stand-alone, publicly traded company; plus other factors described under the heading “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014 or described in our other public filings. Our results may also be affected by factors of which we are not currently aware. The forward-looking statements in this press release speak only as of the date of this press release. Harvard Apparatus Regenerative Technology expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based.


HACKENSACK, N.J., Nov. 23, 2016 /PRNewswire/ -- Champions Oncology (NASDAQ: CSBR), a company engaged in the development of advanced technology solutions and services to personalize the development and use of oncology drugs, today announced it will report its financial and operational...


News Article | November 17, 2016
Site: www.prnewswire.com

HACKENSACK, N.J., Nov. 17, 2016 /PRNewswire/ -- Champions Oncology, Inc. (Nasdaq: CSBR), engaged in the development of advanced technology solutions and services to personalize the development and use of oncology drugs, announced today the signing of a $2 million contract with a large...


HACKENSACK, N.J., Nov. 29, 2016 /PRNewswire/ -- Champions Oncology, Inc. (Nasdaq: CSBR), engaged in the development of advanced technology solutions and services to personalize the development and use of oncology drugs, today announced its financial results for the second quarter ended...


NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Champions Oncology, Inc. concerning possible breaches of Delaware law.


HACKENSACK, N.J., Feb. 16, 2017 /PRNewswire/ -- Champions Oncology, Inc. (NASDAQ: CSBR), a company engaged in the development and sale of advanced technology solutions and products to personalize the development and use of oncology drugs, today announced the addition of new cohorts of PDX...

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