Park Hotels & Resorts sells W New Orleans - French Quarter for $24.1M 06:08 PK Park Hotels & Resorts announced that it has closed on the sale of the 97-room W New Orleans - French Quarter located in New Orleans, LA, for gross proceeds of approximately $24.1M, or $249,000 per key. When adjusted for Park's anticipated capital expenditures, the sale price represents a 4.3% capitalization rate on the Hotel's 2019 net operating income, or 5.8% excluding capex, or 17.9x the Hotel's 2019 EBITDA. Proceeds from the sale will be used to repay debt. Park also announced that the Company recently reopened three West Coast hotels due to improving demand trends in their respective markets. The 360-room Le Meridien San Francisco and the 171-room Hotel Adagio, Autograph Collection, both located in San Francisco, as well as the 850-room DoubleTree Hotel Seattle Airport, all reopened in late March. Park now has 52 out of 59 hotels open, accounting for nearly 80% of the Company's total room count. The Company's seven remaining suspended hotels are currently expected to reopen over the next couple of quarters as travel restrictions ease and demand recovers. The Company continues to witness encouraging improvements in demand, with occupancy at its consolidated hotels increasing from 21% in January to nearly 33% in March, while the portfolio achieved positive EBITDA in March with nearly half of all open consolidated hotels generating positive EBITDA.
Hermes upgraded to Buy from Hold at Societe Generale
3rd gummy of the day- VICR-$84.80
Vicor reports Q1 EPS 34c, consensus 25c 16:14 VICR Reports Q1 revenue $88.8M, consensus $86.71M. First quarter bookings increased 41.2% to $98.9M, from $70.1M for the corresponding period a year ago, and increased sequentially 8.1% from $91.5 million for the fourth quarter of 2020. Total backlog at the end of Q1 was $157.1M, up 6.5 % from $147.6M at the end of 2020. Commenting on Q1 performance, Patrizio Vinciarelli, CEO, stated, "Q1 revenues and gross margins reflected strong demand and improved manufacturing efficiencies. Vertical integration of power packaging processes and increased capacity in expanded facilities will enable greater revenue and margin growth starting in 2022. For the balance of 2021, sequential quarterly increases in revenue are capacity constrained to 7% while bookings and backlog are expected to grow at a faster pace."
Stoney!
Do you know what TLDR stands for in the vernacular of web forums?
Might wanna look that one up.
Hey check out OCGN. They must have had some kind of breakthrough. It took out $10. Is it the run over or will it keep going?
edit:
MALVERN, PA, April 21, 2021 - Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today announced that its co-development partner, Bharat Biotech, shared positive results of the second interim analysis of its Phase 3 study of COVAXIN, a whole virion inactivated COVID-19 vaccine candidate. COVAXIN demonstrated a vaccine efficacy in mild, moderate, and severe COVID-19 disease of 78% with efficacy against severe COVID-19 disease alone of 100%.
“We continue to be excited by the compelling second interim results of Bharat Biotech’s Phase 3 clinical trial. We believe that COVAXIN can help change the course of this pandemic by preventing severe COVID-19 disease including hospitalizations by 100% as well as significantly limit the spread of asymptomatic COVID-19 infections based on efficacy shown to date. We are dedicated to being a part of the solution to save lives from COVID-19 by bringing COVAXIN to the U.S. market. Based on a traditional vaccine platform that has a long-established safety profile, we believe COVAXIN is an important tool to add to our national arsenal in ending the pandemic,” said
Dr. Shankar Musunuri, Chairman of the Board, Chief Executive Officer, and Co-founder of Ocugen.
“The safety and efficacy demonstrated by COVAXIN is remarkable because of the prevalence of several variants of the coronavirus circulating at the time of the trial. This vaccine is based on a proven technology platform and the company plans to consider clinical development in special populations such as children,” said
Dr. Bruce Forrest, member of the vaccine scientific advisory board of Ocugen.
Second Interim Phase 3 Results as Reported by Bharat Biotech
Bharat Biotech’s Phase 3 clinical trial enrolled 25,800 participants between 18-91 years of age in India, including 2,433 over the age of 60 and 4,500 with comorbidities. The primary endpoint of the Phase 3 clinical trial is based on the first occurrence of PCR-confirmed symptomatic (mild, moderate, or severe) COVID-19 with onset at least 14 days after the second study vaccination in serologically negative (to SARS-CoV-2) adult participants at baseline.
The second interim analysis is based on accruing more than 87 symptomatic cases of COVID-19. However, due to the recent surge in cases in India, 127 symptomatic cases were recorded, resulting in a point estimate of vaccine efficacy of 78% (95%CI: 61-88) against mild, moderate, and severe COVID-19 disease. The trial will be continuing to its pre-planned conclusion.
The efficacy against asymptomatic COVID-19 infection was 70%, based on a subgroup of approximately 8,000 participants who visited the clinical trial site each month for an RT-PCR test.
About COVAXIN
COVAXIN, India's COVID-19 vaccine by Bharat Biotech, is developed in collaboration with the Indian Council of Medical Research (ICMR) - National Institute of Virology (NIV). COVAXIN is a highly purified and inactivated vaccine that is manufactured using a vero cell manufacturing platform with an excellent safety track record of more than 300 million doses supplied.
In addition to generating strong immune response against multiple antigens, COVAXIN has been shown to generate memory T cell responses, for its multiple epitopes, indicating longevity and a rapid antibody response to future infections. With published data demonstrating a safety profile superior to available data for several other vaccines, COVAXIN is packaged in multi-dose vials that can be stored at 2-8⁰C.
About Ocugen, Inc.
Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one to many” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. market. For more information, please visit
www.ocugen.com.