Day: September 1, 2021

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IIUI President holds meeting with Faculty of Management Sciences

Islamabad, September 01, 2021 (PPI-OT):H.E. Dr. Hathal Homoud Alotaibi, President, International Islamic University (IIUI), chaired a meeting with Faculty of Management Sciences (FMS) of the University in which matters pertaining to scope, issues, future strategies and research were discussed. It was attended by Prof. Dr. Abdul Raheman, Dean Faculty of Management Sciences, HoDs / Chairpersons and Professors of the faculty. The activity was part of a series of meetings by IIUI President with the faculty to review the existing standards, scope of improvement and exploring ways for quality education.

Addressing the meeting participants, Dr. Hathal said that importance of Faculty of Management Sciences has doubled in the present era as emerging trends in management are part and parcel of the successful journey of the organizations. He emphasized that universities must produce demand-driven graduates and stressed that the faculty programs must emerge as trademark programs in the field.

H.E. Dr. Hathal said that the university is keen to providing state of the art facilities. Identifying the global competition and requirements, IIUI President stressed to focus on use of modern techniques of teaching and research. He said that students must be provided ideal environment of learning and they must be provided opportunities to broaden exposure by interacting with the experts of the field of management science. He reiterated his resolve that IIUI shall be among the leading ranks of reputed educational institutions across the world.

On the occasion, the Dean briefed the Chair about the vision, scope and goals of the faculty. He told that as per vision of IIU President and in pursuit of internationalization and academic excellence, soon the faculty shall be introducing Diploma programs. During the meeting, innovative ideas and suggestions were also presented by participating faculty members.

For more information, contact:
Public Relations,
International Islamic University Islamabad (IIUI)
Room No.118, Admin Block, New Campus,
H-10 Sector, Islamabad, Pakistan
Tel: +92-51-9019249
Fax: +92-51-9257909
Email: iiuipublicrelations@iiu.edu.pk
Website: www.iiu.edu.pk

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New chapter of oppression was written on August 30-31 at D-Chowk: Khurram Nawaz Gandapur 

Lahore, September 01, 2021 (PPI-OT):Khurram Nawaz Gandapur, senior PAT leader, has said that there is democracy in a name only in Pakistan. He said that the oppressed and the poor have to face a strong reaction from the state institutions on their demand for justice. He said that the PAT workers were subjected to brutal and bloody treatment at D-Chowk during the intervening night of August 30 and 31 when they asked for justice in the Model Town tragedy.

He said that the Nawaz Sharif government liberally sprayed bullets at and shelled the peaceful workers, an inhuman and oppressive act that led to the martyrdom of many workers and causing serious injuries to dozens of them. He said that Imran Khan, the prime minister of today, was part of the protest and when the bullets were rained, he and his workers too were targeted. He said that it was the PAT workers who protected him, a fact he acknowledged in a television interview and thanked the PAT for saving him.

Khurram Nawaz Gandapur said that the workers who got injured on that unfortunate night seven years ago still await justice. He said that the shells of the expired gas were thrown at the workers on the orders of Nawaz Sharif and Shahbaz Sharif and straight bullets were fired at them. He said that dozens of fake FIRs were registered, one of which was a so-called PTV attack case. He said that the Nawaz Sharif gang is instigating its workers to revolt and bring the national institutions into disrepute just to protect their corruption.

PAT leader said that the PAT workers rendered sacrifices in man and material against the oppression and brutality of the elite, adding that it was due to these sacrifices that Nawaz Sharif and his cohorts were exposed and humiliated. He said that the institutions should be so much strong and effective that no government is able to interfere in their basic function. He said that we want to see them develop so that the people do not have to take to the streets to demand justice.

Khurram Nawaz Gandapur said that we pay our rich homage to the workers who bravely faced the government’s brutality on the intervening night of August 30 and 31. He said that we ask PM Imran Khan to withdraw the fake cases registered against the PAT workers during the PMLN government’s tenure.

For more information, contact:
Pakistan Awami Tehreek (PAT)
365-M, Model Town,
Lahore, Pakistan
Tel: +92-42-111-140-140
Email: info@pat.com.pk
Website: www.pat.com.pk

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IIUI, ICCI sign MoU to promote Industry-Academia Linkage

Islamabad, September 01, 2021 (PPI-OT):International Islamic University, Islamabad (IIUI) and Islamabad Chamber of Commerce and Industry (ICCI) have signed a memorandum of understanding (MoU) to promote the industry-academia linkage. As per the MoU, both sides will work together to promote research culture in industry to boost industrialisation in the region and produce demand-driven graduates for the industry. Both IIUI and ICCI agreed to cooperate for holding vocational and skills development programs for promotion of entrepreneurship.

According to MoU, both sides would also work together to educate students to practice sanctity in their work and follow ethical procedures. The researchers of the university would also be assisted to develop contact with the external parties. Both sides would also cooperate for creation of internships and training programs for students to provide them opportunities to broaden the experience and exposure by working with experts.

IIUI students would conduct research studies to identify the challenges being faced by the local industry and make presentations to meet these challenges before joint sittings of IIUI and ICCI. ICCI would arrange joint meetings of industry representatives and IIU faculty and students to discuss the opportunities of fostering entrepreneurship in youth. ICCI would pass on information to IIU about different trainings being organized by it or government organizations for capacity building of faculty and students in different areas.

The MoU was signed by IIUI President Dr Hathal Homoud Alotaibi and ICCI President Sardar Yasir Ilyas Khan in a ceremony held at ICCI. IIUI Vice President Administration and Finance Dr. N.B. Jumani and Vice President Research and Enterprise Dr. Ahmed Shuja Syed also witnessed the signing ceremony.

IIUI President, during the meeting with the ICCI president, said linkage of academia and industry is a need of hour. He added that through research, we could achieve the future demands of our industry and it is necessary to bridge the gap between academia and industry. President ICCI Sardar Yasir Ilyas Khan said that the chamber of commerce shall be working keenly to facilitate IIUI students for their internships and projects in functioning industrial units.

For more information, contact:
Public Relations,
International Islamic University Islamabad (IIUI)
Room No.118, Admin Block, New Campus,
H-10 Sector, Islamabad, Pakistan
Tel: +92-51-9019249
Fax: +92-51-9257909
Email: iiuipublicrelations@iiu.edu.pk
Website: www.iiu.edu.pk

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71% Pakistanis believe that the COVID-19 vaccination will be free while 9% believe a price will be charged for it: Gallup and Gilani Pakistan 

Islamabad, September 01, 2021 (PPI-OT):According to a survey conducted by Gallup and Gilani Pakistan, 71% Pakistanis believe that the COVID-19 vaccination will be free while 9% believe a price will be charged for it.

Complete report for Wave 11 of the COVID-19 tracker survey can be accessed here:

https://gallup.com.pk/wp/wp-content/uploads/2021/08/Gallup-COVID-19-Tracker-Wave-11.pdf

A nationally representative sample of adult men and women from across the four provinces was asked the following question, “Do you think getting vaccinated for Corona will be free or be charged with a fee?” In response to this question, 71% thought it would be available for free, 9% believed that a price would be charged for it, 17% did not know while 3% had no response.

Question: “Do you think getting vaccinated for Corona will be free or be charged with a fee?”

For more information, contact:
Head Office,
Gallup Pakistan
Islamabad, Pakistan
Tel: +92-51-8445080
Email: isb@gallup.com.pk, caf@gallup.com.pk
Website: www.gallup.com.pk

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Kava Swap Lists on AscendEX

Singapore, Aug. 31, 2021 (GLOBE NEWSWIRE) — AscendEX, a global digital asset trading platform with a comprehensive product suite, is thrilled to announce the listing of the Kava Swap token (SWP) under the pair USDT/SWP on September 1st at 1 p.m. UTC.

Kava is focused on democratizing financial services and making them openly accessible to anyone, anywhere in the world.  Kava Chain is a decentralized, permissionless, censorship-resistant blockchain built with the Cosmos SDK. This means it operates much like other Cosmos ecosystem blockchains, and is designed to be interoperable with other chains.

Kava.io is the first cross-chain Decentralized Finance (DeFi) hub providing applications and services to the world’s largest cryptocurrencies. Kava’s platform operates as a decentralized bank for digital assets connecting users with products like stablecoins, loans, and interest-bearing accounts so that they can do more and earn more with their digital assets. For example, sers can deposit their digital assets and use them as collateral to borrow Kava’s crypto-backed stablecoin, USDX. The native swap token (SWP), launching Monday Aug. 30, allows users to swap and engage with multiple assets across different chains.

Kava Swap is a cross-chain liquidity hub for all DeFi apps and financial services. Its purpose is to enable the aggregation of capital where it can then be deployed seamlessly across different blockchain ecosystems, DeFi apps, and financial services. At its core, Kava Swap is a cross-chain Autonomous Market Making (AMM) Protocol that leverages the Kava platform’s DeFi infrastructure, cross-chain bridges, and security. Kava Swap delivers users a seamless way to swap between assets of different blockchains and deploy their capital into market-making pools where they can earn handsome returns.

The Kava Protocol is the set of rules and behaviors built into the Kava Chain that enables advanced DeFi functionality like permissionless borrowing and lending. Like most Cosmos ecosystem blockchains, the automated transaction behaviors known as “Smart Contracts” are hardcoded into the protocol. They are referred to as “modules” in the Cosmos Ecosystem. The Kava App uses a special kind of module called a CDP. Hard Protocol is an application that runs on Kava Chain. It does not have its own blockchain. It builds upon the Kava Protocol and adds new functionality, expanding the Kava Ecosystem to include an autonomous money market protocol.

The HARD token is a unique token on the Kava Chain. It is given as a reward for supplying and borrowing on the Hard app. KAVA, the native token of the KAVA protocol, is used as a Proof of Stake (POS) staking asset, which ensures the finality and safety of loans on the protocol and also acts as the ‘lender of last resort’ in certain situations. The Kava Chain is secured by its native token KAVA and it is used across the full chain as a transport and a store of value. It is given as a reward for minting USDX on the Kava app. USDX is a stable coin loosely pegged to the US Dollar. It is minted when a Kava CDP is opened. KAVA, SWP, and HARD are all governance tokens, meaning holders can vote on the rules and proposed new features of the protocols.

About AscendEX 

AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:

Website: https://ascendex.com

Twitter: https://twitter.com/AscendEX_Global

Telegram: https://t.me/AscendEXEnglish

Medium: https://medium.com/ascendex

About Kava Swap

Kava Labs is focused on democratizing financial services and making them openly accessible to anyone, anywhere in the world. Kava is the first cross-chain Decentralized Finance (DeFi) hub providing applications and services to the world’s largest cryptocurrencies. Kava’s platform operates as a decentralized bank for digital assets connecting users with products like stablecoins, loans, and interest-bearing accounts so that they can do more and earn more with their digital assets.

For more information and updates, please visit:

Website: https://www.kava.io/

Twitter: https://twitter.com/Kava_Swap

Telegram: https://t.me/KavaSwap

Medium: https://medium.com/kava-labs


Marketing Department
AscendEX
marketing@ascendex.com
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Nyxoah Issues First Half 2021 Financial Results

REGULATED INFORMATION

Nyxoah Issues First Half 2021 Financial Results

Mont-Saint-Guibert, Belgium – August 31, 2021, 10:30pm CET / 4:30pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH)(“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced its unaudited condensed consolidated interim financial statements for the first half of 2021.

Highlights

  •  $97.8 million Nasdaq IPO gross proceeds
  •  On track to complete US DREAM trial enrollment
  •  €355 thousand revenue generated in Europe, compared to no revenue for the six months ended  June 30, 2020, driven mainly in Germany
  •  Increased commercial activities in Germany with 12 active accounts in Q2, up from 2 in Q1 2021
  •  Announced BETTER SLEEP study top-line results that showed primary safety and performance endpoints met, with statistically significant mean reduction in the AHI score in full patient population including Complete Concentric Collapse (“CCC”) patients
  •  To submit full BETTER SLEEP study data to a medical journal for publication and announce results following further analyses
  •  Integrated Vanderbilt University technology into our scientific and technology department pipelines including collaboration with US and German key opinion leaders

“In the first half of 2021, we kept pace with our initiatives to deliver significant new accomplishments.  In less than 12 months, we completed our second IPO with a Nasdaq listing, further strengthening our balance sheet; made important gains in commercial activities in Germany, our initial commercial proof of concept market; advanced clinical programs, including data to potentially expand our addressable market to include CCC patients; and maintained focused investments in new products and technologies,” said Olivier Taelman, CEO of Nyxoah.  “In the second half, we look forward to further accelerating our commercial activities in existing markets, enter new markets, scale up, and advance clinical programs, including enrollment completion of our US DREAM study in the fourth quarter.”

First Half 2021 Results

For the six months ended
June 30
2021 2020
(in thousands)
Revenue € 355 € −
Cost of goods sold (115) −
Gross profit € 240 € −
General and administrative expenses (4 777) (2 400)
Research and development expenses (1 255) (56)
Clinical expenses (631) (509)
Manufacturing expenses (2 171) (207)
Quality assurance and regulatory expenses (642) (86)
Patents fees & Related (793) (107)
Therapy Development expenses (1 502) (761)
Other operating income / (expenses), net (97) 184
Operating loss for the period € (11 628) € (3 942)
Financial income 43 82
Financial expense (899) (416)
Loss for the period before taxes € (12 484) € (4 276)
Income taxes (124) (24)
Loss for the period € (12 608) € (4 300)
Loss attributable to equity holders € (12 608) € (4 300)
Other comprehensive loss
Items that may be subsequently reclassified to profit or loss (net of tax)
Currency translation differences 192 (89)
Total comprehensive loss for the year, net of tax € (12 416) € (4 389)
Loss attributable to equity holders € (12 416) € (4 389)
Basic Earnings Per Share (in EUR) € (0.570) € (0.262)
Diluted Earnings Per Share (in EUR) € (0.570) € (0.262)

Revenue

Revenue was €355 thousand for the six months ended June 30, 2021, compared to no revenue for the six months ended June 30, 2020. The increase in revenue was attributable to the Company’s commercialization of the Genio® system mainly in Germany, and to a lesser extent, Spain and Belgium.

Cost of Goods Sold

Cost of goods sold was €115 thousand  for the six months ended June 30, 2021, compared to no cost for the six months ended June 30, 2020. The increase in cost of goods sold was attributable to the sales of the Genio® system in Europe.

General and Administrative Expenses. General and administrative expenses increased by €2.4 million, or 99 %, from €2.4 millionfor the six months ended June 30, 2020 to €4.8 million for the six months ended June 30, 2021 mainly due to an increase in consulting and contractors’ fees. The increase in consulting and contractors’ fees includes variable compensations for an amount of €0.3 million for the six months ended June 30, 2020 and €1.9 million for the six months ended June 30, 2021 related to a cash-settled share based payment transaction and an increase of consultant services to support the company in legal, finance, tax and IT matters.

Research and Development Expenses. Before capitalization of €0.6 million for the six months ended June 30, 2021 and €0.6 million for the six months ended June 30, 2020, research and development expenses increased by €1.1 million or 173 %, from €0.7 million for the six months ended June 30, 2020, to €1.8 million for the six months ended June 30, 2021, due to an increase in staff and consulting costs to support our R&D activities. The Company started as of January 2021 to amortize its intangible assets. This explains the significant increase of depreciation expenses for the six months ended June 30, 2021, compared to the six months ended June 30, 2020.

Clinical Expenses. Before capitalization of €3.1 million for the six months ended June 30, 2021, and €1.4 million for the six months ended June 30, 2020, clinical expenses increased by €1.8 million, or 96%, from €1.9 million for the six months ended June 30, 2020, to €3.7 million for the six months ended June 30, 2021. The increase in the expenses was mainly due to an increase in staff and consulting to support the completion of the BETTER SLEEP trial implantations, continuous recruitment for the EliSA trial and the ongoing DREAM IDE trial in the United States.

Manufacturing Expenses. Before capitalization of €0.3 million for the six months ended June 30, 2021, and €1.2 million for the six months ended June 30, 2020, manufacturing expenses increased by €1.0 million, or 72% from €1.4 million for the six months ended June 30, 2020, to €2.4 million for the six months ended June 30, 2021. The increase in the expenses was mainly due to an increase in staff, in production and engineering team to support capacity and yield improvement. In addition, manufacturing expenses increased for the six months ended June 30, 2021, compared to the same period of 2020 due to the increase demand of our Genio® system for non-commercial purposes (clinical trials, development activities, etc) and, therefore, the increase of associated production costs.

Quality Assurance and Regulatory Expenses. Before capitalization of €0.2 million for the six months ended June 30, 2021, and €0.5 million for the six months ended June 30, 2020, quality assurance and regulatory expenses increased by €0.3 million, or 44% from €0.6 million for the six months ended June 30, 2020, to €0.9 million for the six months ended June 30, 2021. The increase in the expenses was mainly due to an increase in staff and QA & regulatory activities to support manufacturing scaling up process.

Patent Fees & Related Expenses. Before capitalization of €0.2 million for the six months ended June 30, 2020, patents fees and related expenses increased by €0.5 million, or 199 % from €0.3 million for the six months ended June 30, 2020, to €0.8 million for the six months ended June 30, 2021, due to expenses related the in-licensing agreement with Vanderbilt University.

Therapy Development Expenses. Therapy development expenses increased by €0.7 million or 97 % from €0.8 million for the six months ended June 30, 2020, to €1.5 million for the six months ended June 30, 2021. The increase in the expenses was mainly due to an increase in staff and consulting, to support the launch of the commercialization in Europe.

Other Operating Income / (Expenses). The Company had other operating expenses of €0.1 million for the six months ended June 30, 2021, and other operating income of €0.2 million for the six months ended June 30, 2020, the evolution being mainly due to the impact of the initial measurement and re-measurement of the financial debt.

Operating Loss

The Company realized a net loss of €12.6 million for the six months ended June 30, 2021, compared to a net loss of €4.3 million for the six months ended June 30, 2020, due to increases of activities in all departments.

Cash Position

Cash and cash equivalents totaled €79.2 million on June 30, 2021, as compared to €23.9 million on June 30, 2020.

Net cash used in operations was €8.4 million for the six months ended June 30, 2021 compared to €4.0 million for the six months ended June 30, 2020. The increase of €4.3 million was primarily due to an increase in a loss for the period of €8.2 million that was mainly attributable to increased general and administrative expenses, research and development expenses, manufacturing expenses and therapy development expenses, which were offset by a positive variation in the working capital and other non-cash transactions of €3.9 million.

Net cash used in investing activities was €4.5 million for the six months ended June 30, 2021 compared €3.7 million to the six months ended June 30, 2020.

Net cash used in financing activities for the six months ended June 30, 2021 was €289 thousand compared to €25.7 million of net cash provided by financing activities during the six months ended June 30, 2020. The decrease was due to the fact that no financing rounds have been organized in the first half of 2021.

Outlook for 2021

The Company’s business, operational, and clinical outlook for 2021 include the following expected milestones and goals:

  •  Begin marketing in Switzerland with approved DRG, as well as additional European countries by the second half of 2021
  •  Ramp up EU revenue through dedicated sales team in Germany
  •  Open second independent manufacturing site in Belgium
  •  Complete DREAM pivotal trial enrollment in the fourth quarter of 2021

First half-year report 2021
Nyxoah’s financial report for the first half of 2021, including details of the unaudited condensed consolidated financial statements, are available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

Conference call and webcast presentation 
Nyxoah will conduct a conference call to open to the public tomorrow, September 1, 2021, at 3:00 p.m. CET / 9:00 a.m. ET, which will also be webcasted. To participate in the conference call, please dial one of the following numbers:

Conference ID: 7468474

USA:                             (844) 260-3718
Belgium:                       0800 73264
International:                (929) 517-0938

A question-and-answer session will follow the presentation of the results. To access the live webcast, go to https://investors.nyxoah.com/events. The archived webcast will be available for replay shortly after the close of the call.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a CE-validated, patient-centered, next generation hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and comorbidities including cardiovascular diseases, depression and stroke.

Following the successful completion of the BLAST OSA study in patients with moderate to severe OSA, the Genio® system received its European CE Mark in 2019. The Company has completed the BETTER SLEEP study in Australia and New Zealand for therapy indication expansion and is currently conducting the DREAM IDE pivotal study for FDA approval and a post-marketing EliSA study in Europe to confirm the long-term safety and efficacy of the Genio® system.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements 
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; and the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:
Nyxoah
Fabian Suarez, Chief Financial Officer
corporate@nyxoah.com
+32 (0)10 22 24 55

Gilmartin Group 
Vivian Cervantes
IR@nyxoah.com

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