POESTENKILL, N.Y., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Dynamic Systems Inc. (DSI), a leading provider of advanced materials testing solutions and a subsidiary of Vishay Precision Group Inc. (VPG), has launched its new standalone Ultra High Temperature Ceramic and Composite (UHTC) system for the development and testing of non-conductive materials, including ceramics. This innovative solution pushes the boundaries of material testing, enabling research and development at temperatures exceeding 2000°C for non-co ...

Transaction Overview - Royalty Pharma closed a transaction to monetize the remaining fixed payments on the MorphoSys Development Funding Bonds for $511 million in upfront cash, resulting in total cash proceeds of $530 million on the original $300 million investment made in September 2022 [1] - The company achieved an attractive return by monetizing future fixed payments at a low discount rate of 5.35% and plans to redeploy the proceeds into higher-returning investment opportunities, including share repurchases and acquiring new royalties [1][8] Strategic Context - The monetization was driven by Novartis' acquisition of MorphoSys, which created a unique opportunity to convert fixed long-term payments into a large cash inflow at an attractive return for shareholders [2] - Royalty Pharma updated its capital allocation framework earlier in the year, aiming to generate attractive returns through a blend of royalty investments and share repurchases, enhancing flexibility for disciplined capital allocation [2] Transaction Details - Royalty Pharma entered a long-term strategic funding partnership with MorphoSys in 2021, providing up to $2.025 billion for MorphoSys' acquisition of Constellation Pharmaceuticals, acquiring royalties on Tremfya and other development-stage assets [3] - Prior to the monetization, Royalty Pharma received two quarterly repayments on the Development Funding Bonds, totaling $19.4 million ($9.7 million in Q4 2024 and $9.7 million in January 2025), which will be recorded in Portfolio Receipts [4] - The $511 million monetization proceeds will be treated as an asset sale and not recorded as Portfolio Receipts, and Royalty Pharma will no longer receive Development Funding Bond payments after this transaction [4] Company Background - Royalty Pharma, founded in 1996, is the largest buyer of biopharmaceutical royalties and a leading funder of innovation in the biopharmaceutical industry, collaborating with academic institutions, research hospitals, and companies of all sizes [6] - The company's portfolio includes royalties on over 35 commercial products, such as Vertex's Trikafta, GSK's Trelegy, Roche's Evrysdi, and Johnson & Johnson's Tremfya, as well as 14 development-stage product candidates [6] Financial Impact - The total proceeds of $530 million on the original $300 million investment strengthen the company's balance sheet and provide added flexibility to pursue its disciplined capital allocation strategy, including significant share repurchases and royalty acquisitions [8]

Core View - Collins Aerospace, an RTX business, secures a follow-on contract worth up to $904 million over five years to advance the U.S. Navy's Cooperative Engagement Capability (CEC) [1] Contract Details - The contract is a sole-source agreement, continuing RTX's role as the exclusive provider of CEC since 1985 [1] - The contract follows an existing five-year Design Agent contract [1] - The CEC system integrates sensors across surface, land, and air platforms to enable Integrated Fire Controls [1] CEC System Enhancements - Collins Aerospace will add new capabilities to the CEC system, including increased interoperability, expanded weapon and sensor coordination, and integration of new data sources [2] - The CEC is a critical network for the U.S. Navy, connecting multiple platforms and sensors to provide composite tracking for combat and weapons systems [2] Strategic Importance - The CEC supports the Navy's Distributed Maritime Operations by enabling integrated fire controls across Joint Services [3] - Collins Aerospace has successfully deployed and maintained CEC on over 174 U.S. Navy, U.S. Marine Corps, and international platforms [3] Future Opportunities - The contract provides significant flexibility for future task orders related to engineering activities, allowing Collins to further impact the CEC mission [4] Company Overview - Collins Aerospace is a leader in integrated and intelligent solutions for the global aerospace and defense industry, with 80,000 employees dedicated to advancing sustainable and connected aviation, mission success, and space exploration [5] - RTX, the parent company, is the world's largest aerospace and defense company, with over 185,000 employees and 2024 sales exceeding $80 billion [6] - RTX operates through industry-leading businesses, including Collins Aerospace, Pratt & Whitney, and Raytheon, focusing on advancing aviation, engineering integrated defense systems, and developing next-generation technology solutions [6]

LAS VEGAS, Jan. 29, 2025 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for December 2024. Scheduled Service – Year Over Year Comparison December 2024 December 2023 Change Passengers 1,544,874 1,356,025 13.9 % Revenue passenger miles (000) 1,441,734 1,255,868 14.8 % Available seat miles (000) 1,771,717 1,521,846 16.4 % Load factor 81.4 % 82.5 % (1.1pts) Departures 11,117 9,527 16.7 % Average stage leng ...

Following Business Growth, Company Initiates Purchases and Shares Long-Term View  West Seneca, New York, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is pleased to announce it has made initial purchases of Bitcoin (BTC) and Ripple (XRP) as part of a newly established cryptocurrency treasury strategy. Projecting rev ...

~ Optimizes Infrastructure for U.S. Business, Increasing Capacity by 46% to 1.027 Million Square Feet ~ ~ Relocating East Coast Distribution Center to Built to Suit Facility in Hagerstown, MD ~ ~ Expected to be Fully Operational in 2026 ~ GARDEN CITY, N.Y., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Lifetime Brands, Inc. (NASDAQ:LCUT) ("Lifetime" or the "Company"), a leading global designer, developer and marketer of a broad range of branded consumer products used in the home, today announced its plan to construct a ...

5% increase in annual dividend57 consecutive years of annual dividend increasesMore than 80 consecutive years of dividend payments SAN JOSE, Calif., Jan. 29, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of SJW Group (NASDAQ: SJW) has declared a quarterly cash dividend of $0.42 per share payable on March 3, 2025, to all shareholders of record at the close of business on Feb. 10, 2025. The March dividend will represent a 5% increase over the dividend paid in December 2024. The 2025 annualized dividend is e ...

The global atrial fibrillation drugs market size was valued at USD 24.59 billion in 2024 and is projected to reach from USD 27 billion in 2025 to USD 62.64 billion by 2033, growing at a CAGR of 9.8% during the forecast period (2025-2033).New York, United States, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Pharmaceuticals known as atrial fibrillation (AF) medicines are employed in the treatment of atrial fibrillation, a prevalent cardiac rhythm disease characterized by irregular and often rapid heartbeats. These drugs ...

NEW YORK, Jan. 29, 2025 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, will release financial results for the fourth quarter and year ended Dec. 31, 2024, on Tuesday, February 25, 2025, after the market closes. An earnings news release, investor fact sheet and presentation will be published on the company’s investor relations website offering an overview of the financial results. The company will host a conference call at 10:00 a.m. EST the following day, Wednesd ...

Carlsbad, CA, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Palisade Bio, Inc. (NASDAQ:PALI) ("Palisade", "Palisade Bio", or the "Company"), a clinical-stage biopharmaceutical company focused on developing and advancing novel therapeutics for patients living with autoimmune, inflammatory, and fibrotic diseases, today announced that its abstract has been accepted for poster presentation at the Crohn's & Colitis Congress being held February 6-8, 2025 in San Francisco, CA. Details of the poster presentation are as follows ...