LAD

Lithia & Driveway Enters into a Strategic Partnership with Pinewood Technologies and Completes Acquisition for Pendragon PLCs Fleet Management and UK Motor Divisions

Retrieved on: 
Thursday, February 1, 2024

MEDFORD, Ore., Feb. 1, 2024 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announces today that it has completed the transaction with Pendragon PLC ("Pendragon", to be renamed Pinewood Technologies Group PLC "Pinewood Technologies") acquiring the UK motor and fleet management divisions of Pendragon, the UK's third largest automotive dealership group and forming a strategic partnership with Pinewood Technologies.

Key Points: 
  • MEDFORD, Ore., Feb. 1, 2024 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announces today that it has completed the transaction with Pendragon PLC ("Pendragon", to be renamed Pinewood Technologies Group PLC "Pinewood Technologies") acquiring the UK motor and fleet management divisions of Pendragon, the UK's third largest automotive dealership group and forming a strategic partnership with Pinewood Technologies.
  • Pinewood's dealer management software remains listed on the London Stock Exchange under the name Pinewood Technologies plc and will become a pure-play software-as-a-service (SaaS) business.
  • These additions build on the final adjacencies contemplated in the company's strategic design outlined in 2020 and growth in the United Kingdom.
  • Bryan DeBoer, Lithia & Driveway President and CEO, said:
    "Today marks the formal completion of our investment in Pinewood and Pendragon.

American Heart Association Late-Breaking Science Presentation Reveals Majority of Adverse Cardiac Events Occur Among Patients Without Obstructive Coronary Artery Disease but Risks Are Detectable by Novel AI

Retrieved on: 
Monday, November 13, 2023

PHILADELPHIA, Nov. 13, 2023 /PRNewswire/ -- New research, presented today at the American Heart Association's Late Breaking Science Sessions, has found that AI technology from Caristo Diagnostics can predict fatal and non-fatal cardiac events independently from routine clinical risk scores and coronary computed tomography angiography (CCTA) interpretation, and can significantly impact treatment for coronary artery disease (CAD) by transforming risk stratification and management of patients undergoing routine CCTA.

Key Points: 
  • Clinical data from more than 40,000 patients were analyzed as part of the Oxford Risk Factors And Non-invasive imaging ( ORFAN ) study.
  • Among patients undergoing CCTA, the majority of fatal and non-fatal cardiac events occurred in those who did not have obstructive CAD at the time of imaging.
  • Specifically, there are twice as many heart attacks and cardiac deaths in the group without obstructive CAD versus those with obstructive CAD.
  • We look forward to introducing our technology across geographies to transform cardiac care and make heart attacks a preventable reality worldwide."

American Heart Association Late-Breaking Science Presentation Reveals Majority of Adverse Cardiac Events Occur Among Patients Without Obstructive Coronary Artery Disease but Risks Are Detectable by Novel AI

Retrieved on: 
Monday, November 13, 2023

PHILADELPHIA, Nov. 13, 2023 /PRNewswire/ -- New research, presented today at the American Heart Association's Late Breaking Science Sessions, has found that AI technology from Caristo Diagnostics can predict fatal and non-fatal cardiac events independently from routine clinical risk scores and coronary computed tomography angiography (CCTA) interpretation, and can significantly impact treatment for coronary artery disease (CAD) by transforming risk stratification and management of patients undergoing routine CCTA.

Key Points: 
  • Clinical data from more than 40,000 patients were analyzed as part of the Oxford Risk Factors And Non-invasive imaging ( ORFAN ) study.
  • Among patients undergoing CCTA, the majority of fatal and non-fatal cardiac events occurred in those who did not have obstructive CAD at the time of imaging.
  • Specifically, there are twice as many heart attacks and cardiac deaths in the group without obstructive CAD versus those with obstructive CAD.
  • We look forward to introducing our technology across geographies to transform cardiac care and make heart attacks a preventable reality worldwide."

Lithia & Driveway (LAD) Reports Record Third Quarter Revenue of $8.3 Billion, 13% Increase

Retrieved on: 
Wednesday, October 25, 2023

MEDFORD, Ore., Oct. 25, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today reported the highest third quarter revenue in company history.

Key Points: 
  • MEDFORD, Ore., Oct. 25, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today reported the highest third quarter revenue in company history.
  • Third quarter 2023 revenue increased 13% to $8.3 billion from $7.3 billion in the third quarter of 2022.
  • Third quarter 2023 net income attributable to LAD per diluted share was $9.46, a 21% decrease from $11.92 per diluted share reported in the third quarter of 2022.
  • Third quarter 2023 net income was $265 million, a 20% decrease compared to net income of $330 million in the same period of 2022.

RTX business Collins Aerospace selected by BAE Systems as Large Area Display provider for Eurofighter Typhoon cockpit development

Retrieved on: 
Wednesday, September 13, 2023

LONDON, Sept. 13, 2023 /PRNewswire/ -- RTX (NYSE: RTX) business Collins Aerospace has been selected by BAE Systems as the provider for Large Area Display technology to be integrated into the cockpits of future Eurofighter Typhoon aircraft.

Key Points: 
  • LONDON, Sept. 13, 2023 /PRNewswire/ -- RTX (NYSE: RTX) business Collins Aerospace has been selected by BAE Systems as the provider for Large Area Display technology to be integrated into the cockpits of future Eurofighter Typhoon aircraft.
  • "Our Large Area Display for Eurofighter Typhoon cockpits represents a game-changing advancement in combat aviation," said Craig Bries, VP GM, Marketing, Sales, & Aftermarket Services, Collins Aerospace.
  • Collins Aerospace will work with BAE Systems to develop a Large Area Display solution that leverages existing, field-proven design elements while incorporating the latest available display technologies in order to minimise obsolescence and development schedule risks.
  • Collins Aerospace has a long-standing relationship with BAE Systems, which has evolved through successful collaboration on the Tornado, Eurofighter Typhoon and Hawk aircraft programs.

Magenta Medical Completes Enrollment to Early Feasibility Study for World's Smallest Heart Pump

Retrieved on: 
Tuesday, August 22, 2023

KADIMA, Israel, Aug. 22, 2023 /PRNewswire/ -- Magenta Medical, developer of the world's smallest heart pump, announced today the completion of enrollment to its FDA-approved Early Feasibility Study with the Elevate™ percutaneous Left Ventricular Assist Device (pLVAD) for the high-risk percutaneous coronary intervention (HR-PCI) indication. All 15 study patients were enrolled and successfully treated at Mount Sinai Hospital, St. Francis Hospital and Heart Center, and North Shore University Hospital. The Elevate™ Early Feasibility Study was approved by the FDA to evaluate the safety and feasibility of the Elevate™ System in providing temporary mechanical circulatory support during HR-PCI procedures, and constitutes the first step in a clinical program intended to secure approval for the device in the US for this indication.

Key Points: 
  • KADIMA, Israel, Aug. 22, 2023 /PRNewswire/ -- Magenta Medical , developer of the world's smallest heart pump, announced today the completion of enrollment to its FDA-approved Early Feasibility Study with the Elevate™ percutaneous Left Ventricular Assist Device (pLVAD) for the high-risk percutaneous coronary intervention (HR-PCI) indication.
  • All 15 study patients were enrolled and successfully treated at Mount Sinai Hospital, St. Francis Hospital and Heart Center, and North Shore University Hospital.
  • "Having now used the system in nine complex, high-risk PCI cases, I can truly appreciate its advantages," said Dr. Sharma.
  • The percutaneous Elevate™ heart pump is inserted over a guidewire through commercially available 10 Fr introducer sheaths that require a small puncture in the groin.

Avalo Reports Second Quarter 2023 Financial Results and Provides Business Updates

Retrieved on: 
Thursday, August 3, 2023

Avalo is considering out-licensing or sale of its non-core and potentially its core assets to increase focus and reduce future expenses.

Key Points: 
  • Avalo is considering out-licensing or sale of its non-core and potentially its core assets to increase focus and reduce future expenses.
  • In July of 2023, Avalo entered into a non-binding letter of intent for the potential sale of AVTX-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose).
  • Second Quarter 2023 Financial Update:
    Avalo had $6.3 million in cash and cash equivalents as of June 30, 2023, representing a $6.9 million decrease compared to December 31, 2022.
  • The net loss and net loss per share for the three months ended June 30, 2023 was largely driven by operating expenses.

LITHIA & DRIVEWAY (LAD) EXPANDS U.S. FOOTPRINT IN ATLANTA MARKET

Retrieved on: 
Wednesday, June 21, 2023

MEDFORD, Ore., June 21, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced the purchase of Wade Ford in Smyrna, Georgia, expanding its reach in the Southeast Region and adding an estimated $285 million in annualized revenue.

Key Points: 
  • MEDFORD, Ore., June 21, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced the purchase of Wade Ford in Smyrna, Georgia, expanding its reach in the Southeast Region and adding an estimated $285 million in annualized revenue.
  • "We're thrilled to have the team at Wade Ford join the LAD family as we continue to focus on network development in the U.S.
  • This is our second store in Atlanta and continues the build out of our network of southeastern locations from Virginia to Florida," said Bryan DeBoer, Lithia & Driveway President and CEO.
  • Their strong reputation with customers and community support allows us to expand our operations in this highly competitive market."

Avalo Reports First Quarter 2023 Financial Results and Provides Business Updates

Retrieved on: 
Thursday, May 4, 2023

Disclosed cash of approximately $16.7 million as of March 31, 2023

Key Points: 
  • Disclosed cash of approximately $16.7 million as of March 31, 2023
    WAYNE, Pa. and ROCKVILLE, Md., May 04, 2023 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX), today announced business updates and financial results for the first quarter of 2023.
  • NEA: Avalo has completed enrollment of the Phase 2 PEAK trial evaluating the safety and efficacy of AVTX-002 in 91 patients with NEA.
  • First Quarter 2023 Financial Update:
    Avalo had $16.7 million in cash and cash equivalents as of March 31, 2023, representing a $3.5 million increase compared to December 31, 2022.
  • The net loss and net loss per share for the three months ended March 31, 2023 was largely driven by operating expenses.

Avalo Reports 2022 Financial Results and Provides Business Updates

Retrieved on: 
Wednesday, March 29, 2023

NEA: Avalo completed enrollment of the Phase 2 PEAK trial evaluating the safety and efficacy of AVTX-002 in 91 patients with NEA.

Key Points: 
  • NEA: Avalo completed enrollment of the Phase 2 PEAK trial evaluating the safety and efficacy of AVTX-002 in 91 patients with NEA.
  • Avalo identified a lead molecule and is currently evaluating several immune dysregulation disorders, with a target IND submission planned in 2024.
  • Avalo had $13.2 million in cash and cash equivalents as of December 31, 2022, representing a $41.4 million decrease compared to December 31, 2021.
  • The net loss and net loss per share for the year ended December 31, 2022 was largely driven by operating expenses and partially offset by revenue from business development transactions.