Although NASA has made progress toward the overall space exploration science priorities recommended in a 2011 decadal survey by the National Academies of Sciences, Engineering, and Medicine, the space agency should raise the priority of scientific research that addresses the risks and unknowns of human space exploration.

NASA, the National Oceanic and Atmospheric Administration (NOAA), and the United States Geological Survey (USGS) should implement a coordinated approach for their space-based environmental observations to further advance Earth science and applications for the next decade, says a new report by the National Academies of Sciences, Engineering, and Medicine.

All U.S. undergraduate students should develop a basic understanding of data science to prepare them adequately for the workforce, says a new report from the National Academies of Sciences, Engineering, and Medicine.

Introducing drone operations into the nation’s airspace can provide substantial benefits to society, such as preventing derailments, inspecting cell phone towers, delivering medical devices to patients in cardiac distress, and assisting firefighters, says a new congressionally mandated report by the National Academies of Sciences, Engineering, and Medicine.

The current process for planetary protection policy development is inadequate to respond to increasingly complex solar system exploration missions, says a new report from the National Academies of Sciences, Engineering, and Medicine.

The U.S. is a clear leader in the global bioeconomy landscape, but faces challenges from decentralized leadership, inadequate talent development, cybersecurity vulnerabilities, stagnant investment in fundamental research, and international competition, according to Safeguarding the Bioeconomy, a new report from the National Academies of Sciences, Engineering, and Medicine.

NASA, NSF, and NOAA have made substantial progress in implementing the programs recommended in the 2013 decadal survey on solar and space physics (heliophysics) despite a challenging budgetary landscape, says a new midterm assessment from the National Academies of Sciences, Engineering, and Medicine.

A new report from the National Academies of Sciences, Engineering, and Medicine finds K-12 teachers face new expectations and more demands from policymakers, parents, students, and schools, including addressing changes in curriculum standards, the emergence of more explicit teaching goals, and shifts in what it means to support all students in their development.

A new report by research company

President Trump speaks at the White House Friday. He is replacing an official who issued a report that found testing delays and equipment shortages at hospitals.; Credit: Jim Watson/AFP via Getty Images

President Trump is moving to replace the Department of Health and Human Services watchdog whose office found severe shortages of medical supplies in hospitals as COVID-19 cases surged.

In a Friday night announcement, the White House named Jason Weida as its nominee to take the permanent inspector general post currently occupied by Christi Grimm, who's been in that role in an acting capacity since January.

A longtime staffer with Health and Human Services, Grimm was leading the inspector general's office in April when it issued a report chronicling testing delays — up to seven days in some cases — as well as severe shortages of supplies in hospitals amid the COVID-19 pandemic.

"Hospitals reported that they were unable to keep up with COVID-19 testing demands because they lacked complete kits and/or the individual components and supplies needed to complete tests," the survey of 323 hospitals found. "When patient stays were extended while awaiting test results, this strained bed availability, personal protective equipment (PPE) supplies, and staffing."

The report also recalled how one hospital had even resorted to making its own disinfectant.

Trump reacted to the report by calling its findings "wrong," asking to know the name of the inspector general and suggesting the report was politically motivated. He later took to Twitter to castigate Grimm and the report even further.

"Why didn't the I.G., who spent 8 years with the Obama Administration (Did she Report on the failed H1N1 Swine Flu debacle where 17,000 people died?), want to talk to the Admirals, Generals, V.P. & others in charge, before doing her report. Another Fake Dossier!" Trump tweeted in early April.

Grimm is a career official, not a political appointee, and began serving in the Office of the Inspector General in 1999.

The nomination of Weida — currently an assistant U.S. attorney — marks the latest replacement of a high-level watchdog by the president. A month ago, he fired the inspector general who raised concerns that eventually led to his impeachment. Days later, he removed the inspector general charged with overseeing the government's coronavirus response bill.

Sen. Patty Murray, ranking Democrat on the Health, Education, Labor and Pensions Committee, said that Trump's nominee "must not get through the Senate without ironclad commitments" to continue the agency's current investigations without political interference.

"We all know the President hasn't told people the truth about this virus or his Administration's response, and late last night, he moved to silence an independent government official who did," Murray said in a statement released on Saturday. "Anyone who demands less will be complicit in the President's clear pattern of retaliation against those who tell the truth."

Health and Human Services did not comment to NPR on Grimm's future role, but said in statement that the agency had been preparing "to assist a new Inspector General appointee over a year ago, when the previous presidentially-appointed and senate-confirmed Inspector General first announced his intention to retire from government service. We will continue to work conscientiously to support a smooth leadership transition."

This content is from Southern California Public Radio. View the original story at SCPR.org.

Senate Majority Leader Mitch McConnell has made filling judicial vacancies his top priority ahead of the 2020 elections.; Credit: J. Scott Applewhite/AP

As new allegations emerge about his motives for retirement, Judge Thomas Griffith says that he faced no political pressure in his decision to leave the bench.

"My decision was driven entirely by personal concerns and involved no discussions with the White House or the Senate," he said in a statement provided to NPR.

Griffith said that his wife was diagnosed 11 years ago with a "debilitating chronic illness" and that her health was "the sole reason for my retirement." He said he made the decision to retire in June 2019 and privately informed his family and law clerks at the time. His retirement was announced publicly in March.

Griffith, 65, is a circuit court judge on the U.S. Court of Appeals for the District of Columbia. Appointed by President George W. Bush, he has served since 2005.

On Monday, The New York Times reported that Demand Justice, a liberal judicial advocacy group, filed a complaint that raises questions about whether Griffith's decision was tied to efforts by Senate Majority Leader Mitch McConnell to encourage older, conservative judges to retire in order to fill their vacancies with younger, conservative judges ahead of the 2020 election, when control of the White House and the Senate will be in play.

Griffith's retirement has paved the way for Justin Walker's nomination to fill the vacancy. Walker, 37, is a longtime McConnell ally who is currently serving as a U.S. district judge of the Western District of Kentucky, McConnell's home state.

The Demand Justice complaint was directed to the U.S. Court of Appeals, where the court's chief judge, Sri Srinivasan, has asked Chief Justice John Roberts to assign another circuit to look into the complaint about whether any ethical improprieties occurred. Griffith's statement refutes the core allegation — that his decision was fueled by political considerations or the result of a pressure campaign.

These allegations are likely to come up at Walker's confirmation hearing on Wednesday before the Senate Judiciary Committee.

Democrats broadly oppose Walker's nomination. He was rated "not qualified" by the American Bar Association. However, unless support for him is diminished among Republicans — unlikely with McConnell's backing — he is likely to be confirmed.

This content is from Southern California Public Radio. View the original story at SCPR.org.

People wait in line to receive food at a food bank on April 28, 2020 in the Brooklyn borough of New York City.; Credit: Spencer Platt/Getty Images

United States unemployment has reached record numbers with more than 30 million Americans applying for benefits in just six weeks, according to the Guardian. Economists expect the labor market to take another unprecedented blow for the month of April. 

Roughly one in five people in California's workforce have applied for initial unemployment insurance benefits, including a "staggering" 37% of workers with no more than a high school diploma. That's the estimate of a  study from the California Policy Lab that analyzed unemployment insurance claims from March 15-April 11. According to the California Economic Development Department (EDD), L.A. County's unemployment rate jumped from 4.3% in February to 6.3% in March. The state of California launched its Pandemic Unemployment Assistance program last week, giving many independent contractors their first chance to apply for benefits.But applicants have had a tough time getting through the system because of technical difficulties with the state's website.

Today on AirTalk we check in on unemployment in the state. Plus, some people are making more money through unemployment benefits than when they were working. We talk to the writer of a recent Wall Street Journal piece that looks at the challenges that presents for businesses as states look to slowly reopen. Do you have questions about unemployment across the state or the application process? Join the conversation by calling 866-893-5722. 

With files from LAist. Read more from David Wagner here. 

Guests:

Eric Morath, labor economics and policy reporter for the Wall Street Journal, he’s based in Washington D.C.; he tweets @EricMorath

George Warner, attorney in the Wage Protection Program at Legal Aid at Work, a San Francisco based nonprofit law firm that assists low-income, working families throughout California; he tweets @readerznriderz

This content is from Southern California Public Radio. View the original story at SCPR.org.

The temperature of a Bolivian child is measured in front of Bolivian embassy during a demonstration requesting repatriation on April 28, 2020 in Santiago, Chile. ; Credit: Marcelo Hernandez/Getty Images

As of Wednesday afternoon, L.A. County has at least 1,367 deaths and 28,646 confirmed cases of coronavirus. Meanwhile, parts of the state are slowly reopening some industries. 

Certain businesses and recreational spaces in Los Angeles County will be allowed to reopen beginning Friday, county officials announced at a media briefing. Those include hiking trails, golf courses, florists, car dealerships and certain retail stores. School districts continue to work through challenges as they consider how to reopen. Kids and teens are coming down with an inflammatory syndrome that experts believe could be linked to COVID-19, NPR News reports. Today on AirTalk, we get the latest on the pandemic with a noted physician, plus we’ll look at the expanding list of symptoms associated with the coronavirus. Are you a parent who has questions about the virus and kids? We want to hear from you. Join the conversation by calling 866-893-5722. 

With files from LAist

Guest:

Richard Jackson, M.D., pediatrician, epidemiologist and professor emeritus at the UCLA Fielding School of Public Health, he’s served in many leadership positions with the California Health Department, including as the State Health Officer, for nine years he served as director of the CDC’s National Center for Environmental Health

This content is from Southern California Public Radio. View the original story at SCPR.org.

Opah fish are hauled onto a dock for sale last week in San Diego. Fishermen coming home to California after weeks at sea are finding strict anti-coronavirus measures, and nowhere to sell their catch.; Credit: Gregory Bull/AP

Commercial fishermen in the U.S. who have already faced challenges in recent years to make it in an increasingly globalized and regulated industry, are now struggling to find customers during the coronavirus crisis.

"This is totally unprecedented. This is the biggest crisis to hit the fishing industry ever, no question about that," Noah Oppenheim, executive director of The Pacific Coast Federation of Fishermen's Associations told NPR in a phone interview. The federation is a trade association representing commercial fishermen along the West Coast.

On Tuesday, seafood industry leaders, processors and fishermen sent a letter to House and Senate leaders requesting $4 billion in aid for the industry.

The closings of restaurants due to the coronavirus pandemic has hit commercial fishermen particularly hard.

An estimated 50% to 60% of wild seafood caught in the U.S. is exported, says Oppenheim. Those international markets have dried up. He says, of the seafood that's not exported, around 80% of that is sold to restaurants.

"Both of those sectors of the seafood economy are largely nonfunctional at the moment, so we're going to have to make up for approximately 90% of our markets ... through either new supply pipelines or new sets of customers."

Jerid Rold, a fishermen in Moss Landing, Calif., tells NPR, he's been out of work for a month, since South Korea stopped taking imports of hagfish. Further damaging profits, Dungeness crab prices on the West Coast have fallen from up to $7 dollars a pound to $2, says Oppenheim.

In Eureka, Calif., "there are no buyers purchasing products at the harbor there. You can't move the Dungeness crab out of the Humboldt bay," Oppenheim said. "It's actually extraordinary how similar these impacts are playing out across the country. They are palpable, they are profound and they are severe."

On the North Atlantic coast, Sam Rosen, a 30-year-old lobsterman based in Vinalhaven, Maine, said he and others are "selling lobster for amounts they shouldn't be sold for."

That's been close to $2.50 a pound, compared to a usual $10 a pound this time of year, Rosen said.

"It's definitely a shock to the system," Rosen said. "This is uncharted territory right now. I don't think anyone thought it was going to be as bad as it's getting."

If aid isn't provided to fishermen soon, "I think we could see hundreds to thousands of fishermen leave the industry nationwide," Oppenheim said.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Eight-year-old Mariana Aceves is doing her math homework — subtraction by counting backwards — while sitting on the bed she shares with her mom, Lorena Aceves.

They're sitting on the bed because they have nowhere else to go: they live in an 8-foot-by-12-foot room called a tiny house. It's part of Seattle's transitional housing where people experiencing homelessness can live until they find a job and a place of their own.

There's room for the bed they share, a TV shelf, "and a little tiny plastic dresser, and then all of our clothing and our food goes underneath our bed," Lorena Aceves says.

Tens of millions of kids are taking classes online at home right now because of the coronavirus pandemic. That's hard enough for most families. But, if you're homeless and have no computer, sketchy wifi, and no quiet place to study, it's even more difficult. That's the case for the one and a half million school kids currently experiencing homelessness across the U.S.

When Seattle's schools closed in March, Aceves had to quit her new job, because she couldn't find childcare. She and her daughter have been holed up in their tiny house ever since.

"It's the boredom," Aceves says, "and me trying to reach out and find resources — work, a car, things like that — while also making sure that she's entertained."

Aceves and her daughter have a tiny amount of private space. Other homeless families have no privacy at all.

Sixteen-year-old Capelle Belij is living with his parents at a shelter, part of a network of family shelters in the Seattle area run by the nonprofit Mary's Place.

The Belijes share a room with two other families, divided only by curtains.

"My friends, like, come up to my bed space and ask if I want to play or something," Belij says. "If we had our own place, I could learn better."

Three-quarters of children and youth considered homeless live doubled-up with another family. That's the situation for the family of 17-year-old Michelle Aguilar. She's part of KUOW's youth reporting program, called RadioActive.

"I can't really find a specific space where it's like quiet and calm and I can actually have wifi," Aguilar says.

Since Aguilar's shared bedroom doesn't have wifi, she ends up in the living room or kitchen with the rest of her family.

"And they just, like, continue their chaotic life of yelling and screaming and, like, playing music and listening to the TV and cooking," she says.

"Whenever I'm, like, in the environment of it being really loud," Aguilar says, "I tend to, like, read over and over and over and over the assignment."

"We're definitely very concerned with there being an achievement gap during this time," says Tisha Tallman, the executive director of the National Center for the Education of Homeless Children and Youth. "The longer this goes, the more likely our children are to fall behind."

And, Tallman adds, schools provide much more than an education: many homeless kids get two meals per day there, and they rely on it as a safe and stable place to be.

Back in her tiny house, Lorena Aceves is trying to keep her daughter's education on track with a strict schedule of math, reading, and typing.

"Even though this is frustrating," Aceves says, "we are having this time together and that's something typically that we don't have."

Aceves says it's good to feel close to her daughter during a time that she has to stay far away from nearly everyone else.

This content is from Southern California Public Radio. View the original story at SCPR.org.

A man walks past Low Library on the Columbia University campus in New York City on March 9.; Credit: Mark Lennihan/AP

On Thursday, Columbia University and Pace University joined a growing number of colleges — including University of Miami, Drexel University and the University of Arizona — facing legal complaints aimed at their response to the coronavirus pandemic.

Thursday's suits were filed in federal court on behalf of Xaviera Marbury, a student at Pace, and an unnamed student at Columbia. Both complaints say students are owed reimbursement as well as damages for services that are no longer available now that campuses are closed. In both cases, those services include:

I. Face-to-face interaction with professors, mentors, and peers;
ii. Access to facilities such as computer labs, study rooms, laboratories, libraries, etc.;
iii. Student governance and student unions;
iv. Extra-curricular activities, groups, intramurals, etc.;
v. Student art, cultures, and other activities;
vi. Social development and independence;
vii. Hands-on learning and experimentation; and
viii. Networking and mentorship opportunities.

Marbury's complaint says her dorm rent costs $9,380 for the semester; she lost access to her dorm for approximately half the semester, the complaint says, but Pace is only offering to reimburse $2,000. Similarly, the Columbia complaint says that the student was refunded just 11% of their mandatory fees for the semester. The complaints also claim that though classes continue, their degree will eventually be worth less on the job market.

Marie Boster, a spokeswoman for Pace University, pointed out that the college is still offering services like tutoring and counseling along with classes remotely. "The faculty, staff and leaders of Pace continue to work tirelessly to support our students during this challenging time," she says. Columbia University had no comment on the suit.

The complaints, filed by a personal injury law firm in South Carolina, seek class action status on behalf of Columbia and Pace students. That same firm, Anastopoulo Law Firm, is also behind the suits against the University of Miami and Drexel.

"Universities are not delivering those services that students and their families have paid for," Anastopoulo attorney Roy T. Willey IV tells NPR. "It's not fair for the universities with multi-million dollar endowments to keep all of the money that students and their families have paid."

If the suits gain traction, the resulting damages would be a further blow to colleges already reeling from the financial impacts of the coronavirus. As NPR's Elissa Nadworny has reported, college endowments have taken a hit, some schools have begun to announce hiring freezes and others are looking at merging or closing their doors.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Michelle Obama in "Becoming".; Credit: Netflix/"Becoming" (2020)

Larry Mantle and KPCC film critics Claudia Puig, Peter Rainer and Christy Lemire review this weekend’s new movie releases.

• "Becoming" on Netflix

• "Rewind" on VOD (iTunes) & on PBS May 11th (check your local listings)

• "Spaceship Earth" on virtual cinemas (Laemmle's & The Frida), streaming on Hulu, and VOD

• "Arkansas" on VOD (Spectrum On Demand, DirecTV on Demand, iTunes, Vudu, Google Play, FandangoNOW & Amazon Prime)

• "Natalie Wood: What Remains Behind" on HBO & Amazon Prime

• "Driveways" on VOD (Amazon Prime and Google Play)

• "Walkaway Joe" on VOD (iTunes, Google Play, FandangoNOW & Vudu)

• "Intrigo: Dear Agnes" on VOD (iTunes, Google Play, FandangoNOW & Vudu)

• "Valley Girl" on VOD (iTunes, Google Play & Amazon Prime)

• "On a Magical Night" on virtual cinemas, including Laemmle's & The Frida

• "The Delicacy" on SOMM TV

Guests:

Claudia Puig, film critic for KPCC and president of the Los Angeles Film Critics Association (LAFCA); she tweets @ClaudiaPuig

Christy Lemire, film critic for KPCC, RogerEbert.com and co-host of the ‘Breakfast All Day’ podcast; she tweets @christylemire

Peter Rainer, film critic for KPCC and the Christian Science Monitor

This content is from Southern California Public Radio. View the original story at SCPR.org.

A still from "Spaceship Earth".; Credit: Neon/"Spaceship Earth" (2020)

Two months is a long time to be quarantined in one place. Just ask, well, pretty much anyone in the era of COVID-19. But imagine if you were quarantined for two years instead of two months, all in the name of science, and it was by choice!

In 1991, eight researchers did exactly that in Oracle, Arizona as part of a first-of-its-kind mission called BIOSPHERE 2. No, there was no failed BIOSPHERE 1 mission -- BIOSPHERE 1 is planet Earth. The mission’s goal was to create a living ecosystem inside a massive glass and steel facility to show that human life could be sustained in outer space. The idea was that whenever humanity finally did gain the ability to travel deeper into space and colonize another planet, a biosphere would need to be built first so that life could be sustained. But what started as a science experiment quickly evolved into a cultural phenomenon, and while some watched with bated breath to see whether the researchers could really create a living ecosystem in a controlled environment, others saw the project and those who were involved as a cult of sorts. Director Matt Wolf explores BIOSPHERE 2  the researchers (“biospherians”) who carried the mission out, what ultimately happened and the good and bad ways in which it became a cultural phenomenon.

Today on FilmWeek, “The Frame” host John Horn talks with Wolf about the making of the film and what can be learned from the biospherians about our current situation staying at home because of COVID-19.

Guest:

Matt Wolf, director of the documentary “Spaceship Earth"

This content is from Southern California Public Radio. View the original story at SCPR.org.

Maurice Jackson of Proven and Probable discusses the future of DNI Metals with the company's executive chairman.

Walter Flores was unemployed for 8 months in 2014 but is now working in sales for Workforce Solutions in Compton; Credit: Brian Watt/KPCC

California's unemployment rate continued its decline in December, ending the year at 7 percent, according to figures released Friday by the state Employment Development Department.

But in Compton, Willowbrook and the Florence-Graham section of Los Angeles County, it remains about double that, data show.

“You might have work this week. But next week, you won’t have work,” said James Hicks, 36, 0f Compton. He's worked in warehouses through staffing agencies, but said the jobs have always been temporary.

Statewide, California has added jobs at a faster rate than the United States for three straight years, according to Robert Kleinhenz, Chief Economist with the Los Angeles County Economic Development Corporation. He pointed out the statewide unemployment rate is now where it was June 2008. 

"All in all, with the recession now five years back in our rearview mirror, we’re finally at the point where we can say that we have shrugged off quite a bit of the pain that occurred back during those times," Kleinhenz said.

The Los Angeles County metro area saw a net gain of almost 71,000 jobs in 2014.  The County's overall unemployment rate has fallen to 7.9 percent from 9.2 percent a year ago.

But Compton's unemployment rate was 13 percent in December.

“I’d rather have a  full-time type of gig, working 40 hours a week, but right now, even if you get 25 hours, it’s a blessing,” said Hicks, the warehouse worker in Compton.

On Thursday, he interviewed to be a guard with a security firm, but was told there weren’t any positions available. He had another security guard job six months ago that he thought might become full time and permanent. 

"It was going all right for about two to three months, until they cut my hours and days," Hicks said. 

Walter Flores lives in La Mirada but currently works as an account executive in the Compton office of Workforce Solutions. He was unemployed for about eight months last year after a car accident.

"Losing what you love to do is a tough one, but I'm back," he said. "2015 is going to be a great year."

Flores said most major warehouse and logistics companies prefer to hire temporary workers through industrial staffing firms like the one where he's working because their needs are sporadic.  

But he said it's still a potential opportunity.

"It doesn't matter that it's a temporary position, as long as you put your foot in the door, and then you let the employer know how much value you are for the company," Flores said.  

Hicks, who's earned a GED, wants to find a program to study physical therapy. But first, he’d like to find a job. 

He said you can't judge Compton’s residents by its unemployment rate.

"Some of us out here who [are] looking for jobs, but sometimes it’s the luck of the draw," he said. "It’s kind of scarce out there.” 

This content is from Southern California Public Radio. View the original story at SCPR.org.

People using a coworking space.; Credit: Cross Campus

In a sign of increased desire of professionals to work remotely, the successful Santa Monica shared workspace Cross Campus is opening a second location in Pasadena later this month, and the company hopes to open eight others in Southern California and beyond in the next two years. 

Dubbed by one user as  the “nerve center” of the Silicon Beach tech scene, Cross Campus opened its membership-based workspace facility in Santa Monica in 2012.   

But co-founder Ronen Olshansky said the shared workspace phenomenon isn't limited to coders. 

"Fewer and fewer people are making the traditional drive into the corporate office," Olshansky said. "They're working remotely as professionals, going off on their own as freelancers, or they're starting their own companies as entrepreneurs."  

A forecast from Forrester Research says that 43 percent of workers will telecommute by 2016, compared to estimates of about a quarter of the workforce telecommuting last year. 

Olshansky said that, for many people, working from home or in a coffee shop isn't productive. 

That's led shared workspaces to pop up in Los Angeles, Culver City and Santa Monica. Among them: Maker City L.A., WeWork, NextSpace, Coloft and Hub LA.  

Los Angeles-based tech investor David Waxman said these kind of shared spaces are crucial for the early stages of tech ventures.

"When you’re just starting out, and capital is very scarce, having not to commit to an entire office but having part of an office is very important," Waxman said.  “There comes a collective energy when a bunch of entrepreneurs get together in the same space, even if they’re not working on the same project."

And he said Pasadena is a good choice for a shared workspace.

"It is the home of Caltech, the Arts Center, and IdeaLab — probably the world’s first tech incubator — started there," he said.

But he said the need isn't limited to Pasadena.

"In Silver Lake, in South Pasadena, in Glendale, you see a lot of little pockets of  people getting together, and as soon as there’s a critical mass, we’ll see co-working spaces like Cross Campus come into being," said Waxman, who named his investment firm TenOneTen after the two freeways that connect Santa Monica and the Westside to Pasadena. 

Alex Maleki of IdeaLab in Pasadena is happy a well-known company is opening up in his city. 

"Anything that helps attract talent and capital to the region," Maleki said, "is absolutely fantastic."

This content is from Southern California Public Radio. View the original story at SCPR.org.

Source: Streetwise Reports   05/04/2020

Stemline Therapeutics Inc. (STML:NASDAQ), which is focused on developing and commercializing novel oncology therapeutics, today announced that it has entered into a definitive agreement to be acquired by private Italian pharmaceutical and diagnostics company Menarini Group in a transaction valued up to $677 million.

The companies advised that the transaction has already been unanimously approved by both companies' Boards of Directors and that the transaction is expected to close in Q2/20 subject to customary closing conditions, regulatory approvals and a tender of at least 50% of the outstanding Stemline shares by shareholders. Menarini stated that it plans to fund the purchase by using existing cash resources.

The firms outlined that purchase details and advised that "under the terms of the agreement, a wholly owned subsidiary of the Menarini Group will commence a tender offer for all outstanding shares of Stemline, whereby Stemline shareholders will be offered a total potential consideration of $12.50 per share, consisting of an upfront payment of $11.50 in cash and one non-tradeable Contingent Value Right (CVR) that will entitle each holder to an additional $1.00 in cash per share upon completion of the first sale of ELZONRIS in any EU5 country after European Commission approval."

The report explained that ELZONRIS is a novel targeted therapy directed to the interleukin-3 (IL-3) receptor-α (CD123) and was developed by Stemline for treatment of blastic plasmacytoid dendritic cell neoplasm (BPDCN) in adult and pediatric patients. The firm stated that the U.S. Food and Drug Administration (FDA) approved that drug in the U.S. in December 2018. A marketing authorization application (MAA) has already been submitted and is presently under review by the European Medicines Agency. Post acquisition, Menarini expects to obtain approvals and expand distribution of ELZONRIS to Europe and emerging markets.

Stemline Therapeutics' Chairman, CEO and Founder Ivan Bergstein, M.D., commented, "Joining Menarini represents a unique opportunity for Stemline to advance the commercialization of ELZONRIS across the globe and to accelerate the development of our pipeline of oncology assets. ...We are excited to be combining with a like-minded organization in Menarini, in a transaction that will deliver immediate and significant cash value to our shareholders, while also allowing our shareholders to participate in the future upside of ELZONRIS's European launch."

Elcin Barker Ergun, CEO of Menarini Group, remarked, "Stemline is an excellent fit for Menarini, enabling us to expand our presence in the U.S. with an established biopharmaceutical company focused on developing oncology therapeutics. Through this acquisition, we will continue to strengthen our portfolio and pipeline of oncology assets and deliver novel therapies around the world."

The company described BPDCN, formerly blastic NK-cell lymphoma, as "an aggressive hematologic malignancy, often with cutaneous manifestations, with historically poor outcomes which typically presents in the bone marrow and/or skin and may also involve lymph nodes and viscera."

Stemline Therapeutics is a commercial-stage biopharmaceutical company headquartered in New York that develops and markets oncology therapeutics. The firm stated that its "ELZONRIS^® (tagraxofusp) is a targeted therapy directed to CD123 and is FDA-approved and commercially available in the U.S. for the treatment of adult and pediatric patients, two years and older, with BPDCN." Stemline noted that ELZONRIS is also being currently being evaluated in clinical studies for other indications including chronic myelomonocytic leukemia, myelofibrosis and acute myeloid leukemia.

The Menarini Group is an international pharmaceutical company based in Italy which operates and sells its products in more than 100 countries. The company stated that it has $4.2 billion in sales annually. The company's medicines address many areas of illnesses including cardiovascular, gastroenterology, metabolic, infectious diseases and anti-inflammatory/analgesic therapeutic areas and oncology.

Stemline Therapeutics began the day with a market capitalization of around $249.2 million with approximately 54.27 million shares outstanding and a short interest of about 11.3%. STML shares opened nearly 150% higher today at $11.81 (+$7.06, +148.63%) over Friday's closing price of $4.75. The stock has traded today between $1.81 and $12.35 per share and is currently trading at $12.10 (+$7.35, +154.74%).

Disclosure:
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( Companies Mentioned: STML:NASDAQ, )

Source: Streetwise Reports   05/05/2020

Commercial-stage biotechnology company Portola Pharmaceuticals Inc. (PTLA:NASDAQ), which focuses on blood-related disorders, and global biopharmaceuticals firm Alexion Pharmaceuticals Inc. (ALXN:NASDAQ) announced that they have entered into a definitive merger agreement for Portola to be acquired by Alexion.

The acquisition is said to provide a key addition to Alexion's diversified commercial portfolio. The report indicated that the merger agreement has already been unanimously approved each of the company's boards of directors.

The report explained that "Portola's commercialized medicine, Andexxa^® [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya^® in Europe, is the first and only approved Factor Xa inhibitor reversal agent, and has demonstrated transformative clinical value by rapidly reversing the anticoagulant effects of Factor Xa inhibitors rivaroxaban and apixaban in severe and uncontrolled bleeding."

Portola's President and CEO Scott Garland commented, "In developing and launching Andexxa, Portola has established a strong foundation for changing the standard of care for patients receiving Factor Xa inhibitors that experience a major, life-threatening bleed. Andexxa rapidly reverses the pharmacologic effect of rivaroxaban and apixaban within two minutes, reducing anti-Factor Xa activity by 92 percent...Given their enhanced resources, global footprint and proven commercial expertise, we look forward to working with Alexion to maximize the value of Andexxa. With their commitment to commercial excellence, together, we will be able to drive stronger utilization of Andexxa, increase penetration and accelerate adoption in the critical care setting."

Ludwig Hantson, Ph.D., CEO of Alexion, remarked, "The acquisition of Portola represents an important next step in our strategy to diversify beyond C5. Andexxa is a strategic fit with our existing portfolio of transformative medicines and is well-aligned with our demonstrated expertise in hematology, neurology and critical care...We believe Andexxa has the potential to become the global standard of care for patients who experience life-threatening bleeds while taking Factor Xa inhibitors apixaban and rivaroxaban. By leveraging Alexion's strong operational and sales infrastructure and deep relationships in hospital channels, we are well positioned to expand the number of patients helped by Andexxa, while also driving value for shareholders."

The firms advised that "under the terms of the merger agreement, a subsidiary of Alexion will commence a tender offer to acquire all of the outstanding shares of Portola's common stock at a price of $18 per share in cash." Alexion plans to fund the purchase with existing cash on hand and the transaction is expected to close in Q3/20. The purchase is subject to approval by a majority interest of Portola's common stockholders tendering their shares along with ordinary closing conditions and regulatory approvals. The company noted that "following successful completion of the tender offer, Alexion will acquire all remaining shares not tendered in the offer at the same price of $18 per share through a merger."

Alexion is a global biopharmaceutical company based in Boston, Mass., with offices in 50 countries worldwide. The company states that it has been "the global leader in complement biology and inhibition for more than 20 years and that it has developed and commercializes two approved complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, as well as the first and only approved complement inhibitor to treat anti-acetylcholine receptor antibody-positive generalized myasthenia gravis and neuromyelitis optica spectrum disorder."

Portola is headquartered in South San Francisco, Calif., and is a commercial-stage biopharmaceutical company focused on treating patients with serious blood-related disorders. Specifically, the company is engaged in developing and commercializing novel therapeutics in order to advance the fields of thrombosis and other hematologic conditions. The firm listed that its first two commercialized products are Andexxa^® and Bevyxxa^® (betrixaban), and that it is also advancing and developing cerdulatinib, a SYK/JAK inhibitor for use in treatment of hematologic cancers.

Portola Pharmaceuticals started off the day with a market capitalization of around $609.0 million with approximately 78.5 million shares outstanding and a short interest of about 23.0%. PTLA shares opened 130% higher today at $17.85 (+$10.09, +130.03%) over yesterday's $7.85 closing price. The stock has traded today between $17.71 and $17.91 per share and is currently trading at $17.83 (+$10.07, +129.77%).

Disclosure:
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3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

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