Germany is in a solid economic position, but ageing and technological change require new investments in people to ensure a stronger and more inclusive society, according to the latest OECD Economic Survey of Germany.

Germany continues to demonstrate a high level of anti-bribery enforcement having prosecuted and sanctioned 328 individuals and 18 companies in foreign bribery cases since 1999.

Labour market integration of immigrants in Switzerland is generally successful: three quarters of immigrants in Switzerland are in employment – more than in any other OECD country

We therefore need a “copernician” change in our approach to the growth – inequality nexus: let’s not think growth first, and inequality thereafter but let’s consider both of them, together, in their circularity. In other words, let’s think “Inclusive Growth”, right from the start, and let’s make it another touchstone of our efforts and complement the Pittsburgh tryptic of strong, sustainable and balanced growth!

The United Kingdom’s economy is projected to expand this year and next, but challenges remain to boost productivity and make future growth more inclusive, according to the OECD’s latest Economic Survey.

The OECD’s Annual Meeting at Ministerial Level reinforced member governments’ support across a broad range of key OECD work.

Sweden should address housing shortages, begin integration activities early, and improve the support for those with low skills to speed up the effective integration of refugees, according to a new OECD report.

Unions and employers, together with governments, can play a major role in making growth more inclusive and helping workers and businesses face the challenges of a changing world of work. Good labour relations are a way to reduce inequalities in jobs and wages and better share prosperity, according to a new OECD-ILO report.

The OECD’s Annual Meeting at Ministerial Level reinforced member governments’ support across a broad range of key OECD work.

Spain has created a strong system to combat money laundering and terrorist financing, but improvements are needed in certain key areas, according to a new report by the Financial Action Task Force.

Spain has created a strong system to combat money laundering and terrorist financing, but improvements are needed in certain key areas, according to a new report by the Financial Action Task Force.

Azerbaijan has made progress in preventing corruption in several sectors, such as public services delivery, traffic police and public education, and reforms have started in customs and business licencing. However, serious and complex corruption challenges have yet to be tackled, says a new OECD report.

Foreign bribery enforcement in the UK has increased significantly since 2012 notably thanks to the pragmatic and effective approach taken by the Serious Fraud Office (SFO) to investigate and resolve foreign bribery cases.

Germany continues to demonstrate a high level of anti-bribery enforcement having prosecuted and sanctioned 328 individuals and 18 companies in foreign bribery cases since 1999.

Flanders builds a "triangle of quality" based on extensive autonomy for schools, supported by pedagogical advisory services and monitored by government inspectors.

In a drive to raise the quality of classroom teaching and boost student performance, Dutch education authorities are encouraging teachers to learn from each other through a process of peer review.

The story of Korean education over the past 50 years is one of remarkable growth and achievement. Korea is one of the top performing countries in the Programme for International Student Assessment (PISA) survey and among those with the highest proportion of young people who have completed upper secondary and tertiary education.

The OECD’s Annual Meeting at Ministerial Level reinforced member governments’ support across a broad range of key OECD work.

Skills are the foundation upon which Mexico must build future growth and prosperity. Mexico, being one of the youngest populations among OECD countries, has a strong demographic advantage and thus a unique window of opportunity. But it also faces common challenges to bring the skills of its population up to the requirements of the global digital economy.

Korea has weathered the shocks triggered by the global recession and its economy is recovering more quickly and vigorously than most other OECD countries.

The metropolitan region of Aix-Marseille in the south of France needs to tackle its fragmentated governance if it is to return to more inclusive and sustainable economic growth, according to a new OECD report.

Organised as part of the programme of activities of the OECD LEED Trento Centre and Venice office and LEED Forum, the capacity building seminar on Designing Strong Local Strategies for Better Jobs and Skills will offer an opportunity to learn from the latest OECD research on the key elements of successful local skills and employment strategies.

A large amount of hydrogen circulates inside the Earth, which affects the long-term evolution of the planet. The majority of this hydrogen is stored in deep Earth within the crystal structures of dense minerals that are thermodynamically stable at high pressures and temperatures. To understand the reason for their stability under such extreme conditions, the chemical bonding geometry and cation exchange mechanism for including hydrogen were analyzed in a representative structure of such minerals (i.e. phase E of dense hydrous magnesium silicate) by using time-of-flight single-crystal neutron Laue diffraction. Phase E has a layered structure belonging to the space group R3m and a very large hydrogen capacity (up to 18% H2O weight fraction). It is stable at pressures of 13–18 GPa and temperatures of up to at least 1573 K. Deuterated high-quality crystals with the chemical formula Mg2.28Si1.32D2.15O6 were synthesized under the relevant high-pressure and high-temperature conditions. The nuclear density distribution obtained by neutron diffraction indicated that the O—D dipoles were directed towards neighboring O2− ions to form strong interlayer hydrogen bonds. This bonding plays a crucial role in stabilizing hydrogen within the mineral structure under such high-pressure and high-temperature conditions. It is considered that cation exchange occurs among Mg2+, D+ and Si4+ within this structure, making the hydrogen capacity flexible.

It is related to one of the world’s most destructive invasive species, and possibly the slimiest. Thirty-five pounds of live giant West African snails (Archachatina […]

The post Slimy invaders, giant snails: Q&A with mollusk expert Ellen Strong appeared first on Smithsonian Insider.

The Smithsonian is embarking on a multi-project partnership with Kickstarter, the funding platform for creative projects. The inaugural project will support conservation of Neil Armstrong’s […]

The post Kickstarter funding: Neil Armstrong’s Apollo 11 spacesuit appeared first on Smithsonian Insider.

The use of strongly bent crystals in spectrometers for pulses of a hard X-ray free-electron laser is explored theoretically. Diffraction is calculated in both dynamical and kinematical theories. It is shown that diffraction can be treated kinematically when the bending radius is small compared with the critical radius given by the ratio of the Bragg-case extinction length for the actual reflection to the Darwin width of this reflection. As a result, the spectral resolution is limited by the crystal thickness, rather than the extinction length, and can become better than the resolution of a planar dynamically diffracting crystal. As an example, it is demonstrated that spectra of the 12 keV pulses can be resolved in the 440 reflection from a 20 µm-thick diamond crystal bent to a radius of 10 cm.

They’ve got no roots or veins and grow in hanging pendants or tightly packed mats attached to stones, soil and wood. Called by some “the […]

The post Mosses have strong potential to acclimate to global warming, study indicates appeared first on Smithsonian Insider.

In deer-populated forests, tastier plants can avoid being eaten if they are surrounded by less appealing plants. But with deer gone, diverse plots become weaker […]

The post Diverse forests are stronger against deer appeared first on Smithsonian Insider.

Source: Streetwise Reports   05/06/2020

Biopharmaceutical company Horizon Therapeutics Inc. (HZNP:NASDAQ), which focuses on developing and commercializing medicines for treatment of rare and rheumatic diseases, today announced its Q1/20 financial results for the period ending March 31, 2020. The firm began by advising that it is raising its FY/20 net sales guidance and revised its adjusted EBITDA guidance.

For Q1/20 the company reported that net sales increased by 27% to $355.9 million over Q1/19. The firm provided a breakdown of revenue by business unit and listed that in Q1/20 compared with Q1/19, its Orphan segment net sales increased 47% to $245.4 Million, KRYSTEXXA® net sales rose by 78% to $93.3 million and TEPEZZA (teprotumumab-trbw) net sales were $23.5 million, which exceeded expectations.

The firm advised that it is increasing FY/20 net sales guidance to $1.40-1.45 billion driven primarily by significantly higher TEPEZZA net sales and reflecting anticipated impacts from COVID-19. The company also presented revised FY/20 adjusted EBITDA guidance of $450-500 million, which reflects increased TEPEZZA program investment to support higher-than-expected demand.

The firm indicated that in Q1/20 it posted a GAAP net loss of $13.6 million with adjusted EBITDA of $107.2 million and non-GAAP net income of $83.2 million.

The company's Chairman, President and CEO Timothy Walbert commented, "We had a very strong start to 2020, highlighted by the early approval and rapid uptake of TEPEZZA, which significantly exceeded expectations, excellent KRYSTEXXA growth and our recent acquisition of HZN-825...We are increasing our full-year net sales guidance to account for significantly higher TEPEZZA net sales that more than offset the expected impact from COVID-19 this year, and we are widening both our net sales and adjusted EBITDA guidance ranges to account for future uncertainty. The fundamentals of our business are strong, including a robust cash position, and we continue to be very well positioned for the long term."

The company noted that it received FDA approval for TEPEZZA for the treatment of thyroid eye disease (TED) earlier this year in January. The firm described TED as "a rare, serious, progressive and vision-threatening autoimmune disease, and is associated with proptosis (eye bulging), diplopia (double vision), blurred vision, pain and facial disfigurement." The company further s explained that "TEPEZZA, a fully human monoclonal antibody insulin-like growth factor-1 receptor (IGF-1R) inhibitor, is the first and only FDA-approved medicine for the treatment of TED."

Horizon Therapeutics is a biopharmaceutical company headquartered in Dublin, Ireland. The firm researches, develops and commercializes medicines for treatment of rare and rheumatic diseases.

Horizon has a market capitalization of around $7.1 billion with approximately 190.2 million shares outstanding and a short interest of about 4.9%. HZNP shares opened 10% higher today at $44.19 (+$3.81, +10.19%) over yesterday's $37.38 closing price and reached a new 52-week high price this morning of $43.57. The stock has traded today between $40.00 and $43.90 per share and is currently trading at $42.95 (+$5.57, +14.90%).

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.

Source: Peter Epstein for Streetwise Reports   05/07/2020

In late April, Metalla Royalty & Streaming acquired two royalties, one of which was a Gross Overriding Royalty (GOR) on NuLegacy Gold Corporation (NUG:TSX.V; NULGF:OTCQX) flagship Red Hill project, a Carlin-style deposit in Nevada's world-famous Cortez trend.

To be clear, this was a transaction between Metalla and a private company; no cash or other remuneration flowed to NuLegacy. However, this news is still exciting and thought provoking as it pertains to a potential (implied) valuation of Red Hill. So much so, that—CEO/director of Finance and Marketing—Albert Matter put out this press release highlighting it. {corporate presentation}

Metalla's news is applicable to NuLegacy for a number of reasons. Let me start by saying I know the Metalla team, I've written about the company several times (although not recently).

This is a smart, hard-working, market-savvy group, with global experience, integrity and expertise. When dealing in streams and royalties, it's all about industry connections, market knowledge and deal flow. Metalla has that and is up to its eyeballs in deal flow (deals it can make or pass on).

Takeaways on implied valuation of NuLegacy's Red Hill project?

That's why this news is so interesting. It represents a reliable, unbiased vote of confidence in NuLegacy's Red Hill project. I was able to track down the president, CEO and a director of Metalla, Mr. Brett Heath, to ask him about his team's view of NuLegacy, their management and technical teams, and the Red Hill project,

"The Red Hill project is very interesting due to its location & position within the Cortez trend of Nevada that hosts globally significant mines & projects, specifically Cortez Hills, Pipeline & Goldrush. Although many near-surface deposits have been discovered, several blind deposits similar to Goldrush have yet to be found.

"NuLegacy's Rift Anticline is a promising new drill target, a chance to discover a large, high-grade deposit. The close proximity of Red Hill to Goldrush heavily influenced our understanding of the geology at Red Hill. Specifically, it allowed us to better understand that the Rift Anticline has similar stratigraphy to Goldrush, and similar mineralization events nearby."

Investors, shareholders and analysts are trying to figure out what (if any) read-throughs there are in terms of the valuation of the Red Hill project.

From the press release:

"Valuing Gross Overriding Royalties ("GORs") is a complicated business made easier in this instance by the straightforward nature of the [transaction] …. prorating the US$4 million purchase price for the total of 2% GOR that was acquired…. values a 1% GOR in the Red Hill project at ~US$2 million."

What this valuation exercise boils down to is how does the value of a 1% GOR compare to a conventional working interest in the same project? GORs are highly case specific, so I will give a range of possibilities. Many factors make GORs unique, but a rule of thumb is that a 1% GOR equates to a 5% working interest.

However, due to the unknown terms of this particular GOR, let's assume that the 1% GOR is equal to between a 5% and 10% working interest. By extending the range higher than 5%, more conservative valuations for Red Hull are obtained. In the chart below one can see that the implied ~US$2 million paid for a 1% GOR equals C$2.8 million at the current exchange rate.

Therefore, Red Hill's indicative valuation could be viewed as C$28 million to C$56 million, or C$0.08 to C$0.15 per share. Currently, the stock's trading at C$0.07. The company has a cash balance of C$4.5 million. {see corporate presentation}. I believe the C$0.08 to C$0.15/share range is conservative because Metalla's purchase of the GOR had a built-in profit expectation. The true ascribed value of a 1% GOR on the Red Hill project might be higher than C$2.8 million.

A true vote of confidence in NuLegacy Gold

Perhaps more important than an implied (subjective) valuation of Red Hill are the following takeaways. First, Metalla not only likes Red Hill, it must also feel good about the long-term prospects for Nevada and the U.S. Metalla looks at hundreds of deals a year from all over the world. Management can, and does, invest in dozens of jurisdictions.

Yet, in April 2020, it chose the U.S., …. Nevada …. the Cortez Trend…. Second, it chose a project that's pre-maiden resource. Remember, Metalla has paid out ~C$2.8 million, but doesn't make a penny of that back unless it re-sells some or all of the GOR it acquired, or Red Hill reaches commercial production. Therefore, I argue that investing at this relatively early stage is a stamp of approval in the extensive work done to date at Red Hill.

That Metalla chose to deploy capital in a gold asset rather than a silver asset, despite the gold-silver ratio being near an all-time high (over 110 to 1) seems promising. Finally, it chose the U.S. at a time when the currencies of Mexico, Australia, Canada and others have weakened considerably vs. the U.S. dollar, making exploration cheaper in those countries. One must have conviction to choose Red Hill over dozens of public and private, pre-maiden resource, projects around the globe.

In the end, a good project in a great jurisdiction is only as prospective as its technical/management teams. NuLegacy has prudently advanced Red Hill in good times and bad. For most of NuLegacy's existence, the gold price traded between about $1,050 and $1,400/oz.

Gold price at $1,730/oz. is a game-changer….

Now gold is hovering around $1,730/oz after almost touching $1,800/oz in March. This is a game-changer for juniors like NuLegacy that have tremendous blue-sky potential, (look at neighboring mines and development projects, some of the best on the planet) but like most juniors, have limited funding to conduct aggressive drill programs in a strong gold price environment.

A savvy company betting on the Red Hill project is yet another indication that the time has come for precious metal players to become more active in M&A.

The day that Barrick commits its deep experience (and deep pockets!) to NuLegacy's Red Hill, all royalties held on that project would soar in value. Why? The timeline to potential production would be shortened, perhaps by years, (more drilling, less investor hand holding, perhaps skipping a PEA or a PFS). The scope of the project would become larger—more drilling across a wider footprint (a 108 sq. km land package).

The value of the royalties could double, triple, quadruple…. who knows? The share price at which NuLegacy gets taken out could also be meaningfully stronger. After all the company has been through, I don't think the Board would sell the company below C$0.30/share. At least not with the gold price at $1,730/oz (or higher). Readers are reminded that C$1.5 billon OceanaGold Corp. & giant natural resources fund Tocqueville own a combined 21.5% of the company.

Might there be a bidding war for NuLegacy?

In a best case example then, there could be multiple bidders for NuLegacy. This is not nearly as crazy as it sounds, especially if the gold price keeps going up, or if the next (fully funded) drill program hits the mark. If Barrick were to make a move, OceanaGold, Newmont, or even Tocqueville (they could hold out for higher price) might have something to say about it.

Those entities, and/or other mid-tiers/majors in Nevada or around the world would keep Barrick honest. Over the years NuLegacy has been in touch with several well-known names, but I never know who they're talking with at any given time. Make no mistake, Barrick is best positioned by virtue of having the most synergies with Red Hill, so it can afford to pay several more pennies per share if need be. That's how a share price of C$0.30+ becomes possible.

Bottom line, NuLegacy Gold (TSX-V: NUG) / (OTCQX: NULGF) is a high-risk exploration play, but I believe a good speculation. There's no better time to be buying high-risk exploration than when the prices of the metals being explored for are moving up.

As more attention is drawn to NuLegacy, its team, the undisputed safety of Nevada, the prolific nature of the Cortez Trend, etc., I think there's compelling relative and absolute value here that readers should consider investigating further.

Corporate Presentation

Peter Epstein is the founder of Epstein Research. His background is in company and financial analysis. He holds an MBA degree in financial analysis from New York University's Stern School of Business.

Disclosures: The content of this article is for information only. Readers fully understand and agree that nothing contained herein, written by Peter Epstein of Epstein Research [ER], (together, [ER]) about NuLegacy Gold, including but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is not to be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy or sell any security. [ER] is not responsible under any circumstances for investment actions taken by the reader. [ER] has never been, and is not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and does not perform market making activities. [ER] is not directly employed by any company, group, organization, party or person. The shares of NuLegacy Gold are highly speculative, not suitable for all investors. Readers understand and agree that investments in small cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed or registered financial advisors before making any investment decisions.

At the time this article was posted, NuLegacy Gold was an advertiser on [ER] and Peter Epstein owned shares in the Company.

Readers understand and agree that they must conduct their own due diligence above and beyond reading this article. While the author believes he's diligent in screening out companies that, for any reasons whatsoever, are unattractive investment opportunities, he cannot guarantee that his efforts will (or have been) successful. [ER] is not responsible for any perceived, or actual, errors including, but not limited to, commentary, opinions, views, assumptions, reported facts & financial calculations, or for the completeness of this article or future content. [ER] is not expected or required to subsequently follow or cover events & news, or write about any particular company or topic. [ER] is not an expert in any company, industry sector or investment topic.

Streetwise Reports Disclosure:
1) Peter Epstein's disclosures are listed above.
2) The following companies mentioned in the article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Metalla Royalty & Streaming and Newmont Goldcorp, companies mentioned in this article.

Graphics provided by the author.

( Companies Mentioned: NUG:TSX.V; NULGF:OTCQX, )

To transform the offshore oil and gas industry’s safety culture, operators, contractors, subcontractors, associations representing these groups, and federal regulators should collaborate to foster safety throughout all levels of the industry and confront challenges collectively, says a new report from the National Academies of Sciences, Engineering, and Medicine.

The U.S. needs stronger policies and guidance to combat Legionnaires’ disease, a form of pneumonia caused by inhaling air contaminated with Legionella bacteria from water systems, 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.

Peter Epstein of Epstein Research looks into the Gross Overriding Royalty that just changed hands on the company's flagship Red Hill project, and discusses what it means for the firm.

Visit the aureport.com for more information and for a free newsletter

In the second of the three Presidential debates, President Obama displayed the passion he lacked the first time around.  He also made his arguments more concisely, and didn't shy away from direct engagement with Mitt Romney.  Snap polls after the debate show most viewers and listeners though Obama won the debate, though the percentages weren't nearly as overwhelming as Romney's advantage last time out.

Will the President's apparent victory show up in the polls as dramatically as Romney's previous win?  What will the stakes be like for next Monday's final, tie-breaking, matchup?

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

Albert Rad, a mobile phone wholesaler who fled religious persecution in Iran decades ago, said that he fully backs President Trump's decision to assassinate Iran's top military commander. ; Credit: Josie Huang/LAist

Los Angeles is home to the largest Iranian population outside of Iran. The killing of top Iranian commander Qassem Suleimani is generating some strong emotions here. KPPC’s Josie Huang reports from Persian Square in Westwood. 

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.

Source: Streetwise Reports   05/06/2020

Biopharmaceutical company Horizon Therapeutics Inc. (HZNP:NASDAQ), which focuses on developing and commercializing medicines for treatment of rare and rheumatic diseases, today announced its Q1/20 financial results for the period ending March 31, 2020. The firm began by advising that it is raising its FY/20 net sales guidance and revised its adjusted EBITDA guidance.

For Q1/20 the company reported that net sales increased by 27% to $355.9 million over Q1/19. The firm provided a breakdown of revenue by business unit and listed that in Q1/20 compared with Q1/19, its Orphan segment net sales increased 47% to $245.4 Million, KRYSTEXXA® net sales rose by 78% to $93.3 million and TEPEZZA (teprotumumab-trbw) net sales were $23.5 million, which exceeded expectations.

The firm advised that it is increasing FY/20 net sales guidance to $1.40-1.45 billion driven primarily by significantly higher TEPEZZA net sales and reflecting anticipated impacts from COVID-19. The company also presented revised FY/20 adjusted EBITDA guidance of $450-500 million, which reflects increased TEPEZZA program investment to support higher-than-expected demand.

The firm indicated that in Q1/20 it posted a GAAP net loss of $13.6 million with adjusted EBITDA of $107.2 million and non-GAAP net income of $83.2 million.

The company's Chairman, President and CEO Timothy Walbert commented, "We had a very strong start to 2020, highlighted by the early approval and rapid uptake of TEPEZZA, which significantly exceeded expectations, excellent KRYSTEXXA growth and our recent acquisition of HZN-825...We are increasing our full-year net sales guidance to account for significantly higher TEPEZZA net sales that more than offset the expected impact from COVID-19 this year, and we are widening both our net sales and adjusted EBITDA guidance ranges to account for future uncertainty. The fundamentals of our business are strong, including a robust cash position, and we continue to be very well positioned for the long term."

The company noted that it received FDA approval for TEPEZZA for the treatment of thyroid eye disease (TED) earlier this year in January. The firm described TED as "a rare, serious, progressive and vision-threatening autoimmune disease, and is associated with proptosis (eye bulging), diplopia (double vision), blurred vision, pain and facial disfigurement." The company further s explained that "TEPEZZA, a fully human monoclonal antibody insulin-like growth factor-1 receptor (IGF-1R) inhibitor, is the first and only FDA-approved medicine for the treatment of TED."

Horizon Therapeutics is a biopharmaceutical company headquartered in Dublin, Ireland. The firm researches, develops and commercializes medicines for treatment of rare and rheumatic diseases.

Horizon has a market capitalization of around $7.1 billion with approximately 190.2 million shares outstanding and a short interest of about 4.9%. HZNP shares opened 10% higher today at $44.19 (+$3.81, +10.19%) over yesterday's $37.38 closing price and reached a new 52-week high price this morning of $43.57. The stock has traded today between $40.00 and $43.90 per share and is currently trading at $42.95 (+$5.57, +14.90%).

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.

Sea surface temperatures in the North Atlantic may be significantly influenced by air pollution, with knock-on effects for climatic events, such as drought and hurricanes, according to a new study. The findings indicate that estimates of man-made aerosol emissions over coming decades should be refined within climate models to improve predictions of future climate change.

Marine Protected Areas should be managed as integrated networks rather than isolated units because of the high degree of exchange between them, a new study suggests. The researchers found that the large majority of sea bream (Sparidae) and wrasse (Labridae) fish spawned in MPA study sites in the Mediterranean Sea were transported via currents to other MPAs and unprotected areas, highlighting their interconnected nature.

Using high-strength concrete in construction could help to reduce its impact on the environment, according to a study by French researchers. The researchers compared the environmental impacts of bridges built from ordinary and high-strength concrete and found that the high-strength solution had a lower impact on the environment overall.

Crane fly larvae cause considerable damage to agricultural crops and young trees throughout Europe. New research has demonstrated that certain strains of fungi have significant potential to control crane fly infestations, thus reducing the use of chemical insecticides and enabling more environmentally-friendly strategies for pest control.

The Alang-Sosiya shipbreaking yard in India is highly polluted with heavy metals, a study concludes. The researchers studied heavy metal contamination in sediments taken from the intertidal zone of the shipbreaking yard and compared them to a control site. The area was found to be ‘strongly polluted’ with copper, cobalt, manganese, lead and zinc.

The makers of Fevicol are leveraging this time to retrain staff and gear up technology infrastructure for the post-Covid world.

Canon India’s sales-force application (iCAN) now has mobility features that enable the sales team to attend to sales leads and generate price approval requests on the mobile which are passed onto the managers through a push notification feature.

The makers of Fevicol are leveraging this time to retrain staff and gear up technology infrastructure for the post-Covid world.

Bike share programmes appear to have successfully reduced private car use in Brisbane, Melbourne, Washington DC, Minnesota and London, suggests recent research. In London, however, high demand for vans to transport bicycles between docking stations may have increased overall motor vehicle use in the city.

Cooperative management can deliver successful and sustainable fisheries, according to a recent global study. The role of strong leadership was essential to this success. Other necessary conditions included the allocation of individual or community fishing quotas, strong community cohesion and having community-based protected areas.

Marine Protected Areas should be managed as integrated networks rather than isolated units because of the high degree of exchange between them, a new study suggests. The researchers found that the large majority of sea bream (Sparidae) and wrasse (Labridae) fish spawned in MPA study sites in the Mediterranean Sea were transported via currents to other MPAs and unprotected areas, highlighting their interconnected nature.