The TLC Chinese Theatre is shown on April 11, 2020 in Hollywood, California. ; Credit: Kevin Winter/Getty Images

Last week, L.A. City Councilmember Mitch O’Farrell introduced a motion that would create a taskforce to revitalize on-location television and film production, which went down 18 percent in the first quarter of 2020, thanks to the coronavirus. 

The motion asks Film L.A., the nonprofit that oversees film and TV productions in Los Angeles, to create a taskforce of industry experts who will prepare recommendations for how filming might be resumed safely. It also asks the nonprofit to create a guideline of best practices for on-location filming, as well as protocols regarding sets and facilities. 

We sit down with the president of Film L.A. to discuss what progress has been made and how Hollywood might start up again. 

If you’re in the industry, whether in front of the camera or behind it, tell us about how the pandemic has affected your work life. Can you see a way for filming to resume while following public health best practices? Call ust at 866-893-5722.

Guests:

John Horn, host of KPCC’s “The Frame”; he’s been reporting on the reopening of Hollywood; he tweets @JGHorn

Paul Audley, president of Film L.A., the nonprofit that oversees film and TV productions in Los Angeles

Duncan Crabtree-Ireland, chief operating officer and general counsel of SAG-AFTRA, the union representing media artists; he is currently leading SAG-AFTRA’s “Safety and Reopen Initiative”

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

Home State restaurant sells groceries to stay afloat in reaction to the coronavirus on April 16, 2020 in Los Angeles, California. ; Credit: Amy Sussman/Getty Images

This Friday, California will take the first steps toward easing its statewide stay-at-home order.

In Stage 2 of Newsom’s reopening plan, lower risk workplaces like schools, childcare facilities, retail businesses (curbside pickup) and offices where working remotely is not possible will be allowed to reopen. For counties and cities, the reopening will be slightly adjusted according to regional demands. Los Angeles Mayor Eric Garcetti has announced that some low risk businesses will be allowed to reopen this Friday, as will city-owned hiking trails and golf courses (excluding Runyon Canyon). In Orange County, many beaches have already been reopened. The county has also seen some businesses open up in defiance of Governor Newsom’s stay-at-home order.

Today, California restaurants are submitting a plan to Governor Newsom to reopen sit-down service with safeguards.Under these guidelines, only family members or people who live together would sit at the same table. Buffets, salad bars and shared bread baskets would be out. Salt and pepper shakers could be replaced by bottles of hand sanitizer. And meals could arrive from food servers sheathed in face masks.

What will the partial reopening look like in Southern California? And how will reopening progress in the weeks ahead? We speak with an epidemiologist, restaurant industry advocate, barber and hair salon advocate and economics commentator to learn more.

With files from the Associated Press

Guests:

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

Jot Condie, president & CEO of the California Restaurant Association, an advocacy organization for the restaurant industry that has submitted an reopening plan for the restaurant industry today to Governor Gavin Newsom

Ted D. Nelson, president and CEO of the Professional Beauty Federation of California, which represents barbers and salon professionals; the organization says it will sue California Governor Gavin Newsom this week over the statewide stay-at-home order

Greg Ip, chief economics commentator for the The Wall Street Journal; he tweets @greg_ip

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

Deirdre Bolona displayed a photo of her and her late father Matt Koenig at a state legislative oversight hearing about the Aliso Canyon natural gas disaster. ; Credit: Sharon McNary/KPCC

It’s been nearly four years since the smell and chemicals from a ruptured gas well at an underground storage field forced thousands of Porter Ranch residents to leave their neighborhood for months. The recriminations and protests have not stopped.

State legislators held a hearing in Porter Ranch Tuesday to review how gas field owner Southern California Gas and public officials responded to the blowout. 

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

; Credit: Shoreline/Flickr

We’ve all done it. Gone to the beach. Hunkered up against the cliffs to get out of the sun. And not thought about what’s right above us.

“Even though you’re sitting amongst store fronts, large communities, private residences, it still is a wild place,” said Brian Ketterer, Coastal Division Chief for California State parks. 

It’s normal for cliffs to erode as water, wind and human contact all work to break them down.

“If you’re going to be that close that you can see cracks and fissures in the soil content itself, that probably means that you’re sitting or standing too close to that bluff area,” said Ketterer 

Look out for posted signs and ask life guards if it’s safe, but know that this isn’t going to get better over time. Sea level rise – part of our climate crisis –could mean more erosion, which could mean even more cliff collapses.

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

A Southern California Edison sign outside the San Onofre Nuclear Plant.; Credit: Grant Slater/KPCC

Large utilities cut off power to millions of Californians over the past two months to reduce the risk that power lines might spark new fires. Nearly 200,000 Southern California Edison customers were blacked out, some for days at a time. These public safety power shutoffs mean that many rural residents lose a lot more than just their electricity. 

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

Rick Bright, former director of the Biomedical Advanced Research and Development Authority, is seen here in 2018.; Credit: Toya Sarno Jordan/Bloomberg via Getty Images

Updated at 6:14 p.m. ET

The federal scientist who was ousted from his role as director of the Biomedical Advanced Research and Development Authority has filed a whistleblower complaint with the U.S. Office of Special Counsel.

Rick Bright was a high-ranking federal scientist focused on vaccine development and a deputy assistant secretary with the Department of Health and Human Services. Last month, Bright said he was transferred to a "less impactful position" at the National Institutes of Health after he was reluctant to promote the use of drugs such as hydroxychloroquine to treat COVID-19 patients.

In the complaint, Bright alleges a range of government wrongdoing by Dr. Robert Kadlec, the assistant secretary of preparedness and response at the U.S. Department of Health & Human Services, and others. Bright's boss was Kadlec, who in turn reported to HHS Secretary Alex Azar.

At the time of his removal, Bright said he had been ousted because of his "insistence" that the government spend funds on "safe and scientifically vetted solutions" to address the coronavirus crisis and not on "drugs, vaccines and other technologies that lack scientific merit."

Bright says in the complaint that he raised concerns about the need to prepare for the coronavirus in January but encountered opposition from Trump administration officials. He says he was transferred out of BARDA in retaliation.

According to the complaint, relations between Bright and Kadlec had been strained since 2018 or so, when Bright began "raising repeated objections to the outsized role Dr. Kadlec allowed industry consultants to play in securing contracts that Dr. Bright and other scientists and subject matter experts determined were not meritorious."

"Once the COVID-19 pandemic hit, however, Dr. Bright became even more alarmed about the pressure that Dr. Kadlec and other government officials were exerting on BARDA to invest in drugs, vaccines, and other technologies without proper scientific vetting or that lacked scientific merit," the complaint continues. "Dr. Bright objected to these efforts and made clear that BARDA would only invest the billions of dollars allocated by Congress to address the COVID-19 pandemic in safe and scientifically vetted solutions and it would not succumb to the pressure of politics or cronyism."

The complaint alleges that Bright made repeated efforts to get the U.S. government to make adequate preparations for coronavirus, but was stymied by political appointees leading the HHS, including Azar.

HHS did not immediately respond to NPR's request for comment.

Bright says that in an effort to get the word out to the public about the risks associated with hydroxychloroquine, he shared with a reporter nonclassified emails between HHS officials that "discussed the drug's potential toxicity and demonstrated the political pressure to rush these drugs from Pakistan and India to American households." He says Azar and Kadlec removed him from his post within days of publication of an article about chloroquine because they suspected he was the article's source.

Bright says he stopped receiving a paycheck on April 20 and has not been assigned any further duties.

News of the whistleblower complaint was made public by his attorney on Tuesday.

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

Patt's Hats for Monday, April 8.; Credit: Michelle Lanz/KPCC

The twinset, in russet and camel colors, was my ‘homage’ to Margaret Thatcher, Britain’s first woman prime minister, who died Monday at the Ritz Hotel in London.
 
If you're unfamiliar with a twinset, it's the classic matching sweater-duo ensemble, sleeveless or short-sleeved sweater under a cardigan, a style much favored in the U.S. by June Cleaver and sorority girls in the 1950s, like the classic insufferable rich sorority girl parody from “Auntie Mame":

And in Britain by a lady of a certain age and certain class. It is usually worn with pearls, ideally three strands. Odd numbers of strands are considered more chic than even numbers. It’s probably what she wore “off duty” as prime minister.

One can’t see her [see, I’m channeling her already!] lounging about Number 10 Downing Street in velour sweats, but on duty and on display in her prime ministerial position, though, she almost always wore a kind of uniform, a brightly colored suit, ladylike but not alluring, and not unlike what the Queen wears. [In the same spirit, the Queen wears twinsets when she’s off-duty and having fun, which is to say at some horsy event or another.] 

Because Thatcher was Britain’s first woman prime minister, Britons enjoyed handicapping the relationship between their head of state [the Queen] and the head of government [the prime minister]. Theirs was not the affectionate relationship of, for example, the Queen and Winston Churchill. And the best sartorial story about the relationship is the story – which has entered into myth if not into the annals of fact – that Mrs. Thatcher’s office once called Buckingham Palace in advance of a joint appearance to find out what the Queen would be wearing so Mrs. Thatcher wouldn’t commit lese majeste and wear the same color.

The Queen, Mrs. T’s office was informed, doesn’t take any notice of what other people are wearing.
 
I wrote about Mrs. T when she came here in 1991 to celebrate the 80th birthday of her “political soulmate,” former president Ronald Reagan. She visited the Reagan library, under construction, and the JPL, among other spots. You can read that account here.
 
And here’s my obituary of the former PM.
 
I last saw her in 2002, in St. Paul’s Cathedral, at the celebration of the Queen’s golden jubilee. I actually heard her before I saw her – that unmistakably clear voice whose pitch she worked hard to shape into the pitch and tone that became part of her political toolkit. Her funeral, next Wednesday, will be at St. Paul’s. 

Now back to my outfit! The skirt is a vintage Sonia Rykiel, which is worth the constant battle with moths to keep it in repair. I like vintage for myriad reasons: no one else is wearing what you’re wearing … the fabrics are usually of much better quality and more interesting than present-day ones … and unlike current store-bought things, vintage has the merit of being environmentally friendly.
 
I was tickled to see my viewpoint endorsed by the accomplished Vanessa Paradis, the charming and glamorous French singer and actress, Chanel model, Lagerfeld muse, and the new face of H&M’s new environmentally conscious line. Here she talks about embracing those virtues herself. Merci, Vanessa!
 
Oh, I spared the oysters and didn’t wear pearls with my twinset. Rose gold is the choice du jour.  Real? I wish!

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

; Credit: Michelle Lanz/KPCC

This is my Earth Day homage, with the green cotton poplin coat and the nifty closures. Couture and hardware experts! Can I beseech you to tell us what this type of closure is called? The round metal gizmo is a grommet, but what do you call the short bar at the end of a chain that goes through the grommet to secure it?

I hope there’s some fanciful medieval word for it, because in my fevered romantic brain, it has the feel of the kind of clothing closure that might have been used for a coat of mail or doublet or surcoat or cotehardie or any of a number of divinely archaic phrases for wardrobe items.
 
Can a print still be spring-y when it’s on a black background, like this one? I’ve heard that there’s a new vogue for prints in tshirts. I would welcome that, because I’m weary of the myriad dreary fan-girl T-shirts, and the clever or hip ones meant to show that you are unique, along with the other two-million people wearing the identical shirt. I’ve seen enough devil’s horns and skulls and snakes to fill the Book of Revelations, so let’s just move along, shall we?
 
These shoes I wear, but rarely. Otherwise they doze quietly in their red flannel shoe bag: my green patent-leather Louboutins. I’d coveted them since seeing them new in a shop in London, when they cost about as much as my plane ticket. I lay in wait for years for someone to put them up on eBay.

The name of the style is “Iowa.” Did the person in charge of naming styles for M. Louboutin know that Iowa is a flat agricultural state smack dab in the middle of the United States? Or perhaps he or she simply liked the esthetics of a word with three vowels and a consonant. What leads me to suspect the latter is the fact that Paris has a wanna-be TexMex cafe named “Indiana.”

When I went there, it was chockablock with images of Indians, who have nothing to do with TexMex food and are not much associated these days with the state of Indiana.
 
For the life of me, I can’t remember where I got the bracelet, but the blue-green-colored “art glass” cabochons practically glow, like that magnificent iridescence that you find in nature. It goes by the fine name ‘’goniochromism,’’ which you should really start throwing around more in general conversation. It’s the purview of butterfly wings and peacock feathers and  scarabs and abalone shells, of course, and of that changeable taffets which seems to have a recrudescence every few years on the racks of prom gowns, and probably should not.

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

Jiro‘s Pick this week is bubblebath by Adam Danz.Adam is no stranger to File Exchange and File Exchange Pick of the Week. He is even more active on MATLAB Answers. In fact, this entry by... read more >>

An experimental wave energy project in the UK has allowed researchers an early view of how the public might respond to large-scale development and the reaction is surprisingly positive. This is encouraging, says the study, but the potential for future conflict between the public and wave energy developers should not be overlooked.

4 awesome discoveries you probably didn't hear about this week -- Episode 31

4 awesome discoveries you probably didn't hear about this week -- Episode 32

Mary Ann de Lares Norris is Chief Operating Officer of Oblong Industries. She brings her dog LouLou to Oblong's downtown LA headquarters.; Credit: Brian Watt/KPCC

KPCC recently reported on the tech world’s diversity problem. Technology firms face challenges in hiring diverse staffs of its coders, web developers and software engineers.

It’s also a challenge at nonprofits such as Southern California Public Radio,  parent of 89.3 KPCC, which has always sought to build a staff that reflects the region it serves. The section of that staff that develops the KPCC app and makes its website run is all white and mostly male.

But a small talent pool means the diversity challenge is even greater for nonprofits and even smaller tech firms.

“The first problem is that all of the people working for me are male,” says Alex Schaffert, the one female on KPCC’s tech team.  “I’m kind of focusing on maybe getting another girl into the mix.”

Schaffert can use the term “girl” because she happens to be the leader of the tech team:  KPCC’s Managing Director of Digital Strategy and Innovation. 

Why diversity is important

Schaffert recently launched the topic of diversity – or lack thereof – at a weekly meeting of her team. She expected a “stilted and awkward” discussion from the five white men on her team, but a few of them didn’t hold back.  

“Not having diversity represented on the team leaves us more susceptible to circular thinking and everyone sort of verifying each other's assumptions,” said Joel Withrow,  who was serving at the time as KPCC’s Product Manager. “It impacts the work. It limits what you’re able to build.”

Sean Dillingham, KPCC’s Design and Development Manager, said living in a diverse community is what attracted him to Los Angeles, and he wants diversity in his immediate work team, too.

“When I look at other tech companies, I will often go to their ‘about us’ page, where they’ll have a page of photos of everyone, and I am immediately turned off when I just see just a sea of white dudes, or even just a sea of dudes,” Dillingham said.

Big competition, small talent pool

Dillingham and Schaffert are currently recruiting heavily to fill two tech-savvy positions. When a reporter or editor job opens up at KPCC, Schaffert says close to 100 resumes come in.

"But if you post a programmer job, and you get three or four resumes, you may not get lucky among those resumes," she says. "There may not be a woman in there. There may not be a person of color in there."

In other words, the talent pool is already small, and the diversity challenge makes it even smaller. KPCC is competing for talent with Google and Yahoo and all the start-ups on L.A.’s Silicon Beach. 

Schaffert’s being proactive, mining LinkedIn and staging networking events to attract potential candidates. She’s also trying to make sure KPCC’s job descriptions don’t sound like some she's seen in the tech world.

"If you read between the lines, they’re really looking for someone who is male and is somewhere between 25-30 years old and likes foosball tables and free energy drinks in the refrigerator," Schaffert says. “So you read between lines, and you know that they’re not talking about me, a mother of two kids who also has a demanding career. They're talking about someone different.”

Pay vs. passion

Schaffert's challenges and approaches to dealing with them are similar to those of Mary Ann de Lares Norris, the Chief Operating Officer at Oblong Industries. Based in downtown Los Angeles and founded in 2006, the company designs operating platforms for businesses that allow teams to collaborate in real time on digital parts of a project.

“I think technology and diversity is tough,” Norris told KPCC.  She’s proud her company’s management ranks are diverse, but says only 12 percent of its engineers are female. “Pretty standard in the tech industry, but it’s not great,” Norris says. “We really strive to increase that number, and all of the other companies are also, and it's really hard.”

Like Schaffert at KPCC, Norris works hard fine-tuning job descriptions and communicating that her company values diversity and work-life balance. But sometimes, it just boils down to money.

"We have to put out offers that have competitive salaries,” Norris says, adding that she can’t compete with the major tech firms. "The Googles and the Facebooks of the world can always pay more than we can. So we attract people who are passionate about coming to work for Oblong.  And, of course, we also offer stock options."

KPCC doesn’t have the  stock options, but we’ve got plenty of passion. Could that be the secret recruiting weapon for both small tech companies and nonprofits?  

LinkedIn recently surveyed engineers about what they look for in an employer. Good pay and work-life balance were the two top draws. Slightly more women prioritized work-life balance and slightly more men chose the big bucks. 

Clinical Entrepreneurship professor Adlai Wertman says that, historically, nonprofits and small businesses actually had the upper hand over big companies in recruiting minorities and women.

"There’s a feeling that they’re safer, more caring environments, less killer environments, and we know that corporate America has been the bastion of white males," said Wertman. 

But Wertman says that advantage disappears in the tech world because of the "supply-and-demand" problem with talent. When big firms decide to focus on diversity – as some have recently — they have plenty of resources.

"They’re always going to be able to pay more, and in truth they’re getting access to students coming out of these schools in ways that we as nonprofits and small companies never will," said Wertman. 

Wertman worked 18 years as an investment banker on Wall Street, then left to head a nonprofit on L.A.’s skid row. Now he heads the Brittingham Social Enterprise Lab Enterprise Lab at USC’s Marshall School of Business. He believes that, early on, the big companies have the best shot attracting diverse tech talent. But in the long run, much of that talent will turn back to smaller firms and nonprofits.

"I think ultimately people vote with where they’re most comfortable, where 'my values align with my employer's values, and if I don’t feel those values align, then I’m going to leave,'" Wertman said. "Ultimately, I think, for a lot of women and minorities, there’s a lot of value alignment within communities that are doing good in the world." 

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

4 awesome discoveries you probably didn't hear about this week -- Episode 32

Celonis, a Germany-based...

As the world turns to technology to track and contain the COVID-19 pandemic, could this spell the end of digital privacy rights?

The post Public health vs. personal privacy: Choose only one? appeared first on WeLiveSecurity

With Zoom – and Zoom-bombing – being all the rage, here’s why the app’s default password settings may be leaving the backdoor wide open

The post Ever needed a Zoom password? Probably not. But why not? appeared first on WeLiveSecurity

Can someone take control of your WhatsApp account by just knowing your phone number? We ran a small test to find out.

The post Hey there! Are you using WhatsApp? Your account may be hackable appeared first on WeLiveSecurity

A pair of vulnerabilities in the default email app on iOS devices is believed to have been exploited against high-profile targets

The post iOS Mail app flaws may have left iPhone users vulnerable for years appeared first on WeLiveSecurity

Ghost wasn’t the only victim of break-ins over the weekend that exploited critical holes in infrastructure automation software for which patches were available

The post Ghost blogging platform servers hacked to mine cryptocurrency appeared first on WeLiveSecurity

Source: Streetwise Reports   04/24/2020

Mesoblast Ltd. (MESO:NASDAQ; MSB:ASX) today announced that it had achieved an "83% survival in ventilator-dependent COVID-19 patients (10/12) with moderate/severe acute respiratory distress syndrome (ARDS) treated during the period March-April 2020 with two intravenous infusions of Mesoblast's allogeneic mesenchymal stem cell product candidate remestemcel-L within the first five days." The company stated that of the 12 patients treated, 75% (9/12) successfully came off ventilator support after a median timeframe of 10 days. The firm advised that all of the patients were treated under an emergency Investigational New Drug (IDA) application or expanded access protocol at Mt. Sinai hospital in New York City and so far seven of the patients have been discharged from the hospital. The company noted that each of the patients had received a variety of experimental agents prior to being treated with remestemcel-L.

The firm explained that until now only about 9% (38/445) of ventilator-dependent COVID-19 patients at a major referral hospital network in New York City were able to come off ventilator support when treated with existing standard of care treatments during March and April 2020. The company reported that at a second major referral hospital network in New York City over the same period, there was 88% mortality with only 12% survival (38/320) among ventilator-dependent COVID-19 patients.

The company's CEO Dr. Silviu Itescu commented, "The remarkable clinical outcomes in these critically ill patients continue to underscore the potential benefits of remestemcel-L as an anti-inflammatory agent in cytokine release syndromes associated with high mortality, including acute graft versus host disease and COVID-19 ARDS. We intend to rapidly complete the randomized, placebo-controlled Phase 2/3 trial in COVID-19 ARDS patients to rigorously confirm that remestemcel-L improves survival in these critically ill patients."

Dr. Fred Grossman, Mesoblast's Chief Medical Officer, added, "There is a significant need to improve the dismal survival outcomes in COVID-19 patients who progress to ARDS and require ventilators. We have implemented robust statistical analyses in our Phase 2/3 trial as recommended by the US Food and Drug Administration (FDA) in order to maximize our ability to evaluate whether remestemcel-L provides a survival benefit in moderate/severe COVID-19 ARDS."

Mesoblast Ltd. is headquartered in Melbourne, Australia, and is a developer of industrial-scale, cryopreserved, off-the-shelf allogeneic cellular medicines. The company utilizes its proprietary mesenchymal lineage cell therapy technology platform in order to create a wide portfolio of commercial products and late-stage product candidates. The firm indicated that "the Biologics License Application to seek approval of its product candidate RYONCIL™ (remestemcel-L) for steroid-refractory acute graft versus host disease has been accepted for priority review by the U.S. Food and Drug Administration." The company has offices in Australia, the U.S. and Singapore.

Mesoblast began the day with a market capitalization of around $687.9 million with approximately 106.7 million shares outstanding. MESO shares opened nearly 142% higher today at $15.59 (+$9.14, +141.71%) over yesterday's $6.45 closing price and reached a new 52-week high price this morning of $20.57. The stock has traded today between $13.01 and $20.57 per share and is presently trading at $14.76 (+$8.30, +128.76%).

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
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.

( Companies Mentioned: MESO:NASDAQ; MSB:ASX, )

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:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
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The elements of Goodrich Petroleum that make it a Buy are presented in a ROTH Capital Partners report.

Using ???cool??? materials to construct roads and walkways is an effective way of lowering urban temperatures to make cities more comfortable in hot weather. According to a recent study, surface temperatures were reduced by 12??C and ambient temperatures were reduced by 1.9??C after cool pavements were installed in a city park in Greece.