Uber lost at least $1.27 bln in first half of 2016 - Bloomberg REUTERS 9:01 AM ET 8/25/2016 Symbol Last Price Change GS 165.3down 0 (0%) AMZN 757.25 0 (0%) QUOTES AS OF 04:01:16 PM ET 08/24/2016 Aug 25 (Reuters) - Ride-hailing giant Uber Technologies Inc lost at least $1.27 billion before interest, taxes, depreciation and amortization in the first six months of 2016, Bloomberg reported on Thursday, citing people familiar with the matter.
The subsidies Uber grants its drivers was the main reason for the loss, finance head Gautam Gupta told investors in a quarterly conference call, Bloomberg said, citing sources. (http://bloom.bg/2bDGGI4)
Uber, whose investors include Goldman Sachs Group Inc(GS) and Amazon.com Inc(AMZN) Chief Executive Jeff Bezos, could not immediately be reached for comment.
The company lost about $520 million in the first quarter of the year and another $750 million in the second quarter, Bloomberg said.
Uber, which is now valued at roughly $69 billion, lost at least $2 billion in 2015, the report said.
The company's net revenue increased to about $1.1 billion in the second quarter from $960 million in the first quarter, while bookings rose to more than $5 billion from more than $3.8 billion in the prior quarter, Bloomberg said. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Savio D'Souza)
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<<<...Intrexon to Develop Disease-Modifying Therapies in New Collaborations with Harvest Intrexon Enterprise FundStartups to Utilize ActoBiotics™ Platform to Develop Innovative Treatments for Celiac Disease and Chronic Rhinosinusitis
PR NEWSWIRE 8:00 ET 9/23/2016
Symbol Last Price Change XON 28.04 0 (0%) JMP 5.54 0 (0%) QUOTES AS OF 04:01:35 PM ET 09/22/2016
GERMANTOWN, Md. , Sept. 23, 2016 /PRNewswire/ -- Intrexon Corporation , a leader in the engineering and industrialization of biology to improve the quality of life and health of the planet, today announced it has entered into Exclusive Channel Collaborations (ECC) with two startups backed by the Harvest Intrexon Enterprise Fund, sponsored by Harvest Capital Strategies, LLC. Through Intrexon's proprietary ActoBiotics™Lactococcus lactis platform, these companies will pursue new approaches to deliver disease-modifying therapies:
Genten Therapeutics, Inc. will center efforts on ActoBiotics™ expression of gluten peptides, alone or in combination with immunomodulatory cytokines, to reestablish immune tolerance for patients with celiac disease; and CRS Bio, Inc. will focus on targeted delivery of antibodies for treatment of chronic rhinosinusitis (CRS) with and without nasal polyps, by utilizing ActoBiotics™ technology to block inflammatory mediators in the nasal passage, leading to improved breathing and, importantly, patients' quality of life.
Intrexon Corporation logo. "The expansion of our portfolio with innovative high impact programs at Genten Therapeutics and CRS Bio further illustrate the significant potential of Intrexon's(XON) ActoBiotics™ platform to provide new therapeutic modalities addressing the underlying causes of difficult-to-treat conditions such as celiac disease and chronic rhinosinusitis," said Geno Germano, President of Intrexon. "The high unmet needs of these autoimmune and inflammatory disorders are ideal targets for our engineered bio-based solutions that can overcome the limitations of existing approaches."
Celiac disease is a serious genetic autoimmune disorder estimated to affect 1 in 100 people globally in which the body launches an immune attack on the intestinal lining when gluten is consumed. Current treatment requires lifelong adherence to a strict, gluten-free diet as well as persistent monitoring for symptoms and nutritional deficiencies. Genten Therapeutics' goal is to deliver a monotherapy through an antigen-specific induction of immune tolerance for gluten to address this high unmet medical need.
"Celiac disease presents a growing, under-diagnosed disorder in need of innovative therapeutic approaches. The utilization of ActoBiotics™ biotherapeutics as a therapy to reestablish immune tolerance to disease-causing gluten represents a promising strategy for treating the condition," noted Bana Jabri, M.D., Ph.D., Director of Research, University of Chicago Celiac Disease Center.
CRS is a common inflammatory condition estimated to affect over 30 million people in the United States alone that causes swelling of the sinuses and can lead to a variety of upper respiratory symptoms. Many CRS patients are unresponsive to medical therapy and the disease is also associated with high surgical failure rates, in particular for patients with nasal polyps. CRS Bio will advance a localized delivery approach with in situ production and release of single domain antibodies to reduce inflammation and nasal airway obstruction.
"Chronic rhinosinusitis affects more than 10% of the EU and US population, and often cannot be cured by current therapies. The ActoBiotics™ platform for local delivery of innovative therapy is perfectly suited to develop new approaches for CRS," stated Professor Claus Bachert, M.D., Ph.D., Head of Upper Airways Research Laboratory, Chief of Clinics ENT-Department, at Ghent University Hospital, Belgium.
Under the terms of the ECC agreements for both collaborations, Intrexon(XON) will receive a technology access fee in the form of equity equating to 25% of each startup, reimbursement for all research and development costs, as well as potential milestones and backend economics in the form of royalties.
About Harvest Strategies, LLC Harvest Capital Strategies, LLC, is a San Francisco-based investment adviser that began operations in September 1999, and acts as the investment manager of the fund. Harvest is an indirect subsidiary of JMP Group LLC(JMP) , a public company that operates its alternative asset management business through Harvest Capital Strategies and its investment banking, equity research and institutional brokerage business through JMP Securities LLC.
About Intrexon Corporation(XON) Intrexon Corporation (XON) is Powering the Bioindustrial Revolution with Better DNA™ to create biologically-based products that improve the quality of life and the health of the planet. The Company's integrated technology suite provides its partners across diverse markets with industrial-scale design and development of complex biological systems delivering unprecedented control, quality, function, and performance of living cells. We call our synthetic biology approach Better DNA®, and we invite you to discover more at www.dna.com or follow us on Twitter at @Intrexon(XON), on Facebook, and LinkedIn.
Trademarks Intrexon (XON), ActoBiotics, Powering the Bioindustrial Revolution with Better DNA, and Better DNA are trademarks of Intrexon(XON) and/or its affiliates. Other names may be trademarks of their respective owners.
Safe Harbor Statement Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
For more information regarding Intrexon Corporation(XON), contact: Investor Contact: Christopher Basta Vice President, Investor Relations Tel: +1 (561) 410-7052 investors@intrexon.com
Oxitec Opens Large Scale Mosquito Production Facility in BrazilCapacity to Produce 60 Million Friendly™ Aedes per Week can Help Protect Up to 3 Million Brazilians from Primary Vector for Zika, Dengue and other Viruses
PR NEWSWIRE 7:00 AM ET 10/26/2016
Symbol Last Price Change XON 26.34down 0 (0%) QUOTES AS OF 04:02:03 PM ET 10/25/2016
OXFORD, England , Oct. 26, 2016 /PRNewswire/ -- Intrexon Corporation(XON) , a leader in the engineering and industrialization of biology to improve the quality of life and health of the planet, today announced its wholly owned subsidiary Oxitec has opened its new Friendly™ Aedes mosquito production facility in Piracicaba, Brazil. The new 5,000 m² facility has the capacity to produce 60 million Friendly™ Aedes per week which can help protect up to 3 million people by significantly reducing local populations of the dangerous Aedes aegypti mosquito.
Intrexon Corporation logo. Lieutenant General (Ret.) Thomas P. Bostick, Ph.D., P.E., Senior Vice President and Head of Intrexon's(XON) Environment Sector stated, "The scalability of our biological solution has taken a meaningful step forward with the inauguration of this new world-class facility in Brazil. With the rising global incidence of harmful viral infections including Zika, dengue, chikungunya, yellow fever, and now Mayaro, driven primarily by the bite of the dangerous Aedes aegypti, it is essential we make Oxitec's proven, unparalleled Friendly™ Aedes vector control solution more available to the many countries this disease-spreading mosquito has invaded. We continue to engage and work with numerous government agencies and non-governmental organizations to achieve this mission."
Oxitec's pioneering biological method involves the release of engineered, non-biting male mosquitoes that mate with wild females. The resulting offspring inherit a self-limiting gene preventing them from reaching adulthood and the males themselves die within days providing an eco-friendly solution that solely targets Aedes aegypti and does not persist in the environment. Oxitec will utilize a portion of the new facility's significant production capability to support its ongoing deployment program in Piracicaba's downtown area and CECAP/Eldorado district to suppress Aedes aegypti.
In conjunction with independent collaborators, Oxitec has conducted five open field trials of its self-limiting mosquitoes in Brazil, Panama and the Cayman Islands. Each trial led to a greater than 90% reduction of the wild Aedes aegypti population, achieving these unparalleled suppression results within six months on average. More recently, Piracicaba's Epidemiologic Surveillance service released data showing the incidence of dengue had decreased by 91% to just 12 cases in the CECAP/Eldorado district where Friendly™ Aedes mosquitoes were released, compared to a 52% reduction in the rest of the city during the same 12-month period.
Notably the public support for the Friendly™ Aedes project has been strong. A survey conducted by the CW7 Market Research Institute in mid-2016 showed that 98% of Piracicaba's citizens support the use of innovative tools to fight dengue, Zika and chikungunya, and 88% support the use of Friendly™ Aedes.
"This Friendly™ Aedes facility increases our current production capacity 30-fold in Brazil", says Glen Slade, Oxitec's VP and Director of Oxitec do Brasil. "This reaffirms our ability to produce Friendly™ Aedes at scale, and we are ready to expand our production even further to help protect the people of Brazil and beyond."
About Intrexon Corporation(XON) Intrexon Corporation (XON) is Powering the Bioindustrial Revolution with Better DNA™ to create biologically-based products that improve the quality of life and the health of the planet. The Company's integrated technology suite provides its partners across diverse markets with industrial-scale design and development of complex biological systems delivering unprecedented control, quality, function, and performance of living cells. We call our synthetic biology approach Better DNA®, and we invite you to discover more at www.dna.com or follow us on Twitter at @Intrexon(XON).
Trademarks Intrexon (XON), Powering the Bioindustrial Revolution with Better DNA, and Better DNA are trademarks of Intrexon(XON) and/or its affiliates. Other names may be trademarks of their respective owners.
Safe Harbor Statement Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
For more information contact: Corporate Contact: Marie Rossi , Ph.D. Senior Manager, Technical Communications Tel: +1 (301) 556-9850 publicrelations@intrexon.com
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