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EuroDry Ltd. Reports Results for the Quarter Ended March 31, 2025
GlobeNewswire· 2025-06-05 12:00
Core Viewpoint - EuroDry Ltd. reported a challenging first quarter of 2025, with significant declines in revenues and profitability due to low charter rates and market volatility, particularly influenced by external economic factors and geopolitical tensions [4][6][9]. Financial Performance - Total net revenues for Q1 2025 were $9.2 million, a decrease of 36.2% compared to $14.4 million in Q1 2024 [6][9]. - The average time charter equivalent rate dropped by 42.5% to $7,167 per day in Q1 2025 from $12,455 per day in Q1 2024 [6][9]. - Adjusted EBITDA for Q1 2025 was $(1.0) million, down from $2.1 million in Q1 2024 [8][17]. - The net loss attributable to controlling shareholders was $3.7 million, or $1.35 loss per share, compared to a net loss of $1.8 million, or $0.65 loss per share, in the same period of 2024 [16][18]. Operational Insights - The company operated an average of 12.8 vessels in Q1 2025, compared to 13.0 vessels in Q1 2024 [9][23]. - Vessel operating expenses increased to $6.6 million in Q1 2025 from $6.2 million in Q1 2024, primarily due to higher costs for spare parts and maintenance [7][10]. - The fleet utilization rate was 97.4% in Q1 2025, slightly down from 98.1% in Q1 2024 [24]. Strategic Decisions - The company opted not to lock vessels into longer duration charters at unprofitable levels, instead pursuing short-term trip charters to capitalize on potential market recoveries [5]. - EuroDry sold the M/V Tasos for approximately $5 million, resulting in a gain on sale of $2.1 million [13]. Market Conditions - The charter market was described as the lowest since the early COVID pandemic, with a slight rebound in April and May that was insufficient to restore profitability [4]. - The demand side of the supply/demand equation remains volatile, influenced by the steel industry's weakness and economic growth uncertainties in China, as well as ongoing geopolitical conflicts [4]. Fleet Profile - EuroDry's fleet consists of 12 vessels with a total cargo capacity of 843,402 dwt, including 4 Panamax, 5 Ultramax, and 2 Kamsarmax drybulk carriers [57]. - Two Ultramax vessels are under construction, expected to be delivered in 2027, which will increase the fleet to 14 vessels with a total capacity of 970,402 dwt [21][57].
Correction: Verkkokauppa.com Oyj - Managers' Transactions – Samuli Seppälä
GlobeNewswire· 2025-06-05 12:00
Company Overview - Verkkokauppa.com is an e-commerce pioneer in Finland, known for its fast deliveries and customer-centric approach [5] - The company was founded in 1992 and has been operating online since its inception [6] - In 2024, Verkkokauppa.com reported a revenue of EUR 468 million and employs approximately 600 people [6] Recent Transactions - Samuli Seppälä, a member of the Board of Verkkokauppa.com, reported a transaction involving the company's shares under the EU Market Abuse Regulation [2][3] - The transaction took place on June 2, 2025, with a total volume of 111,809 shares sold at a volume weighted average price of EUR 2.72238 [4] - The transaction details were amended due to previous inaccuracies in the reported aggregated transaction information and price rounding [3][4]
Cocrystal Pharma's Novel Norovirus Antiviral to be Presented at Department of Defense Medical Conference
GlobeNewswire News Room· 2025-06-05 12:00
Core Viewpoint - Cocrystal Pharma, Inc. is presenting its broad-spectrum protease inhibitor CDI-988 at the 2025 Military Health System Research Symposium, highlighting its potential as a prophylaxis and treatment for norovirus, which currently lacks approved antiviral agents or vaccines [1][2]. Company Overview - Cocrystal Pharma, Inc. is a clinical-stage biotechnology company focused on discovering and developing novel antiviral therapeutics targeting the replication processes of various viruses, including noroviruses, coronaviruses, and hepatitis C viruses [6]. - The company utilizes unique structure-based technologies and expertise in enzymology and medicinal chemistry to create first- and best-in-class antiviral drugs [6]. Product Development - CDI-988 is designed as a broad-spectrum inhibitor targeting a highly conserved region in the active site of 3CL viral proteases, representing a first-in-class oral treatment for noroviruses and coronaviruses [3]. - The company has completed a Phase 1 study evaluating the safety, tolerability, and pharmacokinetics of CDI-988 in healthy adults, which included a food effect cohort [3]. Technology Platform - Cocrystal's proprietary structure-based platform technology provides a three-dimensional structure of inhibitor complexes at near-atomic resolution, facilitating the identification of novel binding sites and rapid structural information processing [4]. - The goal of this technology is to develop antiviral therapies that are safe, well-tolerated, and effective against all viral subtypes, with a high barrier to viral resistance [4]. Industry Context - The Military Health System Research Symposium is an annual event that gathers military medical care providers, researchers, and industry representatives to discuss healthcare initiatives related to military infectious diseases and operational medicine [5].
Blink Charging Names Michael Bercovich Chief Financial Officer
GlobeNewswire· 2025-06-05 12:00
Bowie, Md., June 05, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink”), a leading global owner, operator, provider, and manufacturer of electric vehicle (EV) charging equipment and services, has announced that it has named Michael Bercovich as its new Chief Financial Officer. Bercovich, who will officially assume the CFO role at Blink on June 23rd, previously served as Chief Financial Officer at Helios Global Payments Solutions, MyOutDesk, Cialfo and Elements Global Services, where he led ...
180 Degree Capital Corp. Provides Process Update on Proposed Merger with Mount Logan Capital Inc.
GlobeNewswire· 2025-06-05 12:00
Core Viewpoint - 180 Degree Capital Corp. is progressing with its proposed all-stock merger with Mount Logan Capital Inc., with expectations to seek shareholder approval in the third quarter of 2025 [1][3][5] Financial Statements and Regulatory Filings - An amended preliminary proxy statement was filed on May 6, 2025, containing audited financial statements of Mount Logan, converted to U.S. GAAP from IFRS to meet SEC requirements [2] - Yukon Parent, the legal acquirer in the merger, filed an amended registration statement on Form S-4 to register the issuance of shares to shareholders of both companies [2] SEC Review Process - Both the proxy statement and Form S-4 are undergoing the standard SEC review process, with plans to set record and meeting dates for a special shareholder meeting once SEC comments are cleared [3] - The company aims to commence the proxy solicitation process and hold the special meeting for shareholder voting during the third quarter of 2025 [3] Stock Performance and Market Context - Since the announcement of the proposed merger, 180 Degree Capital's common stock price has increased by 5.6%, contrasting with a 4.9% decline in the Russell Microcap Index [4] - The company believes that transitioning to an operating company will establish its net asset value as a price floor rather than a ceiling, which is typical for closed-end funds [4] Shareholder Support and Voting Agreements - Approximately 14% of non-insider shareholders have signed voting agreements or provided non-binding indications of support for the merger [5] - The voting agreement represents the entirety of the agreement related to the Business Combination, with no separate agreements with those providing non-binding support [5] Company Overview - 180 Degree Capital Corp. is a publicly traded closed-end fund focused on investing in undervalued small public companies, aiming for significant turnarounds through constructive activism [6]
Alstom S.A: 10 July 2025 Combined Shareholders’ Meeting - Availability of the preparatory documents
GlobeNewswire· 2025-06-05 11:49
5 June 2025 – ALSTOM’s shareholders are invited to participate in the Combined Shareholders’ Meeting of 10 July 2025 (the “Meeting”) which will take place at 2:00 PM at 28, avenue George V (“Châteauform’ Le 28 George V”) 75008 Paris. The Meeting will be broadcasted live and in full on the Company’s website (www.alstom.com). This broadcast will also be available on the Company’s website on a deferred basis within the timeframes provided for by applicable regulations. The prior notice of the Meeting, which ...
Kaldvík AS: Mandatory notifications of trade and share lending
GlobeNewswire· 2025-06-05 11:44
Frøya, Norway, 5 June 2025: Reference is made to the stock exchange announcement made by Kaldvík AS ("Kaldvík" or the "Company") earlier today (the "Announcement"), regarding the successful completion of a private placement (the "Private Placement") of new shares in the Company raising gross proceeds of approximately NOK 532 million, equal to approximately EUR 46.2 million. In connection with the Private Placement, the following transactions have been made by close associates of the Company's primary inside ...
Clearmind Medicine Announces Enrollment of First Patient in Phase I/IIa Clinical Trial for Alcohol Use Disorder Treatment
GlobeNewswire· 2025-06-05 11:32
CMND-100 has the potential to provide an innovative and advanced treatment option for hundreds of millions of people around the world afflicted with Alcohol Use Disorder Vancouver, Canada, June 05, 2025 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq: CMND), (FSE: CWY0) (“Clearmind” or the "Company"), a clinical-stage biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced the enrollment of the first pa ...
Optiva Agentic AI BSS, Powered by Google's Gemini Models, Wins MVNOs World AI & Analytics Excellence Award
GlobeNewswire· 2025-06-05 11:30
AI-driven BSS recognized for empowering MVNEs and MVNOs to launch and configure eSIM enablement and advanced product catalogs at speedTORONTO, June 05, 2025 (GLOBE NEWSWIRE) -- Optiva Inc. (TSX: OPT), a leader in powering the telecom industry with cloud-native billing, charging and revenue management software on private and public clouds, is honored to receive the MVNOs World award for AI & Analytics Excellence. Optiva BSS Platform, featuring integrated AI-agents, was recognized for providing digital-first ...
NextGen Digital Expands Cloud AI Hosting & Digital Infrastructure Operations & Provides Corporate Update
GlobeNewswire· 2025-06-05 11:30
Fredericton, New Brunswick, June 05, 2025 (GLOBE NEWSWIRE) -- NextGen Digital Platforms Inc. (CSE:NXT) (OTCQB:NXTDF) (FSE:Z12) (“NextGen” or the “Company”) is pleased to announce that it has expanded its fleet of computing workstations for its online hardware-as-a-service business (“Cloud AI Hosting”) and that the newly acquired workstations have begun generating revenue. The three new workstations, each equipped with a high-performance Nvidia graphics processing unit (“GPU”), bring the Company’s total a ...