Category Archives: Market News

CoreLogic: Paying cash for houses lowest in nearly 10 years

Last year, the share of homes bought with cash fell to the lowest level since 2007, a new report from CoreLogic showed.

According to CoreLogic’s report, cash sales made up 32.1% of all home sales in 2016, falling 2.2% from 2015’s total. That’s the lowest annual cash sales share since 2007, when cash sales accounted for 27% of all sales.

For reference, the cash sales share peaked in January 2011, when cash transactions were 46.6% of total home sales nationally. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25%, CoreLogic’s report showed.

CoreLogic’s report showed that in the month of December, cash sales represented 33.1% of total home sales, down 1.3 percentage points from the same time period in 2015.

According to the report, if the cash sales share continues to fall at the same rate it did in December 2016, the share should hit 25% by mid-2019.

That trend represents a significant change from last month’s report, which showed that cash sales were tracking to hit pre-crisis levels later this year.

CoreLogic cash sales by type December 2016

(Click to enlarge. Image courtesy of CoreLogic)

Additionally, CoreLogic’s report also showed that cash sales weren’t the only data point to fall to a nine-year low in 2016.

According to the report, the national distressed sales share of total home sales was 7.8% in December 2016, which is the lowest distressed sales share for any month since October 2007.

For the full-year 2016, the distressed sales share was 8.9%, down 2.1 percentage points from the full-year 2015, marking the lowest annual distressed sales share since 2007 when it was 6%.

For reference, at its peak in January 2009, distressed sales made up 32.4% of all sales.

The pre-crisis share of distressed sales was normally around 2%. If the current year-over-year decrease in the distressed sales share continues, it will reach that “normal” 2% mark by mid-2018, CoreLogic’s report showed.

Diving deeper in to December’s data, CoreLogic’s report showed that real-estate owned sales had the largest cash sales share in December at 61.1%.

Short sales were the next highest, with a share of 34.2%, followed by resales at 33% and newly constructed homes at 16.7%.

While the percentage of REO sales within the all-cash category remained high, REO transactions have declined since peaking in January 2011, CoreLogic’s report noted.

Broken down by state, New York had the largest cash sales share of any state at 47.9%, followed by New Jersey (47.6%), Alabama (46.1%), Michigan (44.3%) and Florida (42.1%). For a more detailed state-by-state breakdown, click the image below.

CoreLogic cash sales by state December 2016

(Click to enlarge. Image courtesy of CoreLogic)

Article source: http://www.housingwire.com/articles/39643-corelogic-paying-cash-for-houses-lowest-in-nearly-10-years

CohBar Inc. (CWBR: OTCQX U.S.) | CohBar, Inc. Announces Fourth Quarter 2016 Financial Results

CohBar, Inc. Announces Fourth Quarter 2016 Financial Results

Mar 22, 2017

OTC Disclosure News Service

CohBar, Inc. (OTCQX: CWBR and TSXV: COB.U), a preclinical stage
biotechnology company focused on developing mitochondria based
therapeutics (MBTs) to treat age-related diseases, today reported
financial results for the fourth quarter ended December 31, 2016 and
provided an update on the Company’s preclinical development program.

“Our development team initiated IND-enabling studies for our lead drug
candidates CB4209 and CB4211 in 2016, with the goal of commencing our
first human clinical trial in early 2018,” said Simon Allen, CohBar’s
CEO. “In addition, we continued to see positive preclinical activity for
our lead programs, including our latest STAM data, validating the
therapeutic potential of our drug candidates in the treatment of NASH as
well as obesity. We also made tremendous progress mining the
mitochondrial genome for new peptides with biological activity using our
proprietary technology platform, and filed multiple new provisional
patent applications for our discoveries, further expanding our research
pipeline and MBT opportunities.”

Fourth Quarter 2016 and Recent Preclinical Development and Business
Highlights

  • Completed preclinical studies for our lead program that support
    NASH as a potential clinical indication for development.
    Following
    the selection of its two lead drug candidates CB4209 and CB4211 in
    September 2016, CohBar completed a preclinical study in January 2017
    that investigated the therapeutic effects of its two drug candidates
    in the widely used STAM mouse model for non-alcoholic steatohepatitis,
    or NASH, a severe form of fatty liver disease. In this model,
    treatment with either CB4209 or CB4211 resulted in a significant
    reduction of the non-alcoholic fatty liver disease (NAFLD) activity
    score, or NAS, a composite measure of steatosis (fat accumulation),
    inflammation and hepatocyte ballooning (cellular injury). The results
    from this STAM study support findings from CohBar’s earlier
    preclinical studies of its lead compounds in diet induced obesity
    (DIO) models, which showed significant decreases in liver fat and
    favorable reductions in biomarkers associated with NASH. Additional
    efficacy studies of CB4209 and CB4211 are ongoing or planned. CohBar
    plans to submit the preclinical DIO and NASH data during 2017 for
    presentation at a major liver-focused scientific meeting.
  • Discovered new biologically active peptides in the mitochondrial
    genome and expanded intellectual property portfolio.
    In line with
    the Company’s strategy to discover, identify and optimize all
    biologically active peptides encoded within the mitochondrial genome,
    CohBar’s scientists identified a large number of new mitochondrial
    peptides with biological activity and the Company filed over 50 new
    provisional patent applications related to these peptides and their
    analogs.
  • Expanded investment community outreach to build awareness. During
    the fourth quarter and early 2017, CohBar’s management continued to
    meet with existing and potential investors in multiple non-deal
    roadshows and at investment conferences in the U.S. and Canada. In
    addition, CohBar’s CEO Simon Allen presented at several investment
    conferences including the 15th Annual BIO Investor Forum in
    San Francisco in October 2016, the 9th Annual Biotech
    Showcase in San Francisco in January 2017, the OTCQX Virtual
    Conference in February 2017, and the BIO CEO Investor Conference in
    New York in February 2017.

During the fourth quarter, CohBar’s founders continued to be recognized
for their contributions to the study of aging and the development of
potential new therapies for the treatment of age-related diseases:

  • Dr. Pinchas Cohen was a featured lecturer at the American
    Physiological Society’s November 2016 Meeting on The Integrative
    Biology of Exercise: “Mitochondrial Peptides Regulate Energy
    Homeostasis” in Phoenix, AZ.
  • Dr. Nir Barzilai was the keynote speaker at the 8th
    International Congress of the Growth Hormone Research Society and IGF
    Society in Tel Aviv, Israel in November 2016. He was also a featured
    speaker on the topic of longevity at the November 2016 TEDMED
    conference in Palm Springs, CA. In December 2016, he was a panelist at
    The Economist’s symposium “The Business of Longevity” in San
    Francisco, CA.

Fourth Quarter 2016 Financial Highlights

  • Cash and Investments. CohBar had cash and investments of
    $8,686,420 on December 31, 2016, compared to $10,291,487 on December
    31, 2015. With the cash proceeds received from the exercise of
    warrants that took place in the first week of January 2017, CohBar
    began the year with cash and investments of approximately $11.1
    million.
  • RD Expenses. Research and development expenses were
    $960,390 in the three months ended December 31, 2016 compared to
    $709,146 in the prior year period, a $251,244 increase. The increase
    in research and development expenses was due primarily to the costs
    associated with the Company’s IND-enabling activities and an increase
    in salary, benefits and stock-based compensation due to the expansion
    of its scientific staff.
  • GA Expenses. General and administrative expenses were
    $717,054 in the three months ended December 31, 2016 compared to
    $440,321 in the prior year period, a $276,733 increase. The increase
    in general and administrative expenses was primarily due to an
    increase in salary, benefits and stock-based compensation from the
    expansion of the Company’s executive team with the addition of its new
    Chief Executive Officer and Director of Investor Relations and the
    timing of a bonus accrued in the current year quarter with no
    corresponding expense in the prior year period.
  • Net Loss. For the three months ended December 31, 2016, net
    loss was $1,677,148 or $0.05 per share basic and diluted, compared to
    a net loss of $1,150,160, or $0.04 per share basic and diluted, for
    the three months ended December 31, 2015.

Investor Conference Call Information:
Date: March 22, 2017
Time: 2:00
p.m. (PDT)
Dial-in U.S. and Canada: 1-888-287-5516
Dial-in
International: 1-719-457-2683
Conference ID# 3409008

An audio recording of the call will be available beginning at 5:00 p.m.
(PDT) on March 22, 2017, through 9:00 p.m. (PDT) on March 29, 2017. To
access the recording please dial 1-844-512-2921 in the U.S. and Canada
or 1-412-317-6671 internationally and reference Conference ID# 3409008.

About CohBar’s Preclinical Development Program

CohBar’s lead preclinical development program is based on MOTS-c, a
mitochondrial-derived peptide discovered in 2012 by the Company’s
founders and their academic collaborators, whose research has shown that
MOTS-c plays a significant role in the regulation of metabolism. The
Company has developed optimized analogs of the MOTS-c peptide, CB4209
and CB4211, which have demonstrated significant therapeutic potential in
preclinical models of obesity and nonalcoholic steatohepatitis (NASH).
CohBar is currently advancing these drug candidates through IND-enabling
activities with plans to initiate clinical trials of the final candidate
in early 2018.

About CohBar

CohBar (OTCQX: CWBR and TSXV: COB.U) is a preclinical stage
biotechnology company focused on the research and development of
mitochondria based therapeutics (MBTs), an emerging class of drugs for
the treatment of age-related diseases. MBTs originate from the discovery
by CohBar’s founders of a novel group of peptides within the
mitochondrial genome which regulate metabolism and cell death, and whose
biological activity declines with age. CohBar’s efforts focus on the
development of these mitochondrial-derived peptides (MDPs) into
clinically relevant MBTs that offer the potential to address a broad
range of age-related diseases, including obesity, fatty liver disease
(NASH), type 2 diabetes, cancer, cardiovascular and neurodegenerative
diseases. To date, the Company and its founders have discovered more
than 50 biologically active mitochondrial peptides.

For additional company information, please visit www.cohbar.com.

Forward-Looking Statements

This news release contains forward-looking statements (statements which
are not historical facts) within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
CohBar’s plans and expectations for its CB4209 and CB4211 candidate
program, including anticipated timing and results of IND-enabling
activities, regulatory submissions and initiation of clinical trials,
statements regarding the therapeutic potential of these and other
mitochondria based therapeutics, and the potential for additional
discoveries, and expectations regarding future patent applications.
Forward-looking statements are based on current expectations, estimates
and projections that involve a number of risks and uncertainties that
could cause actual results to differ materially from those anticipated
by CohBar. These risks and uncertainties include, among other things,
the uncertainties inherent in research and development, including the
ability to meet anticipated commencement and completion dates for
IND-enabling and initial clinical studies, as well as the possibility of
unfavorable study results, including unfavorable new data and additional
analyses of existing data; risks associated with initial data, including
the risk that results of additional pre-clinical or clinical studies may
be different from (including less favorable than) the earlier data
results and may not support further clinical development; whether and
when any investigational new drug application may be filed with
regulatory authorities for CB4209 or CB4211; whether and when regulatory
authorities may approve any such applications, and other decisions by
regulatory authorities that could affect the availability or commercial
potential of CB4209 or CB4211. Additional risks and uncertainties
include CohBar’s ability to retain key personnel, expand its research
operations, and obtain financing necessary to continue its operations
and fund its candidate programs. Additional assumptions, risks and
uncertainties are described in detail in our registration statements,
reports and other filings with the Securities and Exchange Commission
and applicable Canadian securities regulators, which are available on
our website, and at www.sec.gov or www.sedar.com.

You are cautioned that such statements are not guarantees of future
performance and that our actual results may differ materially from those
set forth in the forward-looking statements. The forward-looking
statements and other information contained in this news release are made
as of the date hereof and CohBar does not undertake any obligation to
update publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

 

CohBar, Inc.

Balance Sheets

(unaudited)

 

 

As of

December 31, 2016

 

December 31, 2015

 

ASSETS

Current assets:

Cash

$

3,257,458

$

4,803,687

Investments

5,428,962

5,487,800

Subscription receivable

522,326

Prepaid expenses and other current assets

 

110,822

 

88,223

Total current assets

9,319,568

10,379,710

Property and equipment, net

230,512

199,575

Other assets

 

36,810

 

20,492

Total assets

$

9,586,890

$

10,599,777

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$

103,294

$

209,730

Accrued liabilities

132,780

155,713

Accrued payroll and other compensation

447,641

217,250

Note payable, net of debt discount of $59 and $0 as of December 31,
2016 and 2015, respectively

 

205,201

 

Total current liabilities

888,916

582,693

Note payable, net of debt discount of $0 and $255 as of December 31,
2016 and 2015, respectively

 

 

205,005

Total liabilities

 

888,916

 

787,698

 

Commitments and contingencies

 

Stockholders’ equity:

Preferred stock, $0.001 par value, Authorized 5,000,000 shares;

No shares issued and outstanding as of December 31, 2016 and
December 31, 2015, respectively

Common stock, $0.001 par value, Authorized 75,000,000 shares;

Issued and outstanding 34,807,881 shares as of December 31, 2016 and
32,320,891 as of December 31, 2015

34,808

32,321

Additional paid-in capital

23,072,702

18,114,295

Accumulated deficit

 

(14,409,536)

 

(8,334,537)

Total stockholders’ equity

 

8,697,974

 

9,812,079

Total liabilities and stockholders’ equity

$

9,586,890

$

10,599,777

 

 

CohBar, Inc.

Statements of Operations

(unaudited)

 

 

For The Three Months Ended December 31,

 

For The Years Ended December 31,

 

2016

 

 

2015

 

2016

 

 

2015

 

Revenues

$

$

$

$

 

Operating expenses:

Research and development

960,390

709,146

3,606,515

1,966,221

General and administrative

 

717,054

 

440,321

 

2,470,062

 

1,908,080

Total operating expenses

 

1,677,444

 

1,149,467

 

6,076,577

 

3,874,301

Operating loss

 

(1,677,444)

 

(1,149,467)

 

(6,076,577)

 

(3,874,301)

 

Other income (expense):

Interest income

2,296

1,112

9,368

4,762

Interest expense

(1,951)

(1,756)

(7,594)

(7,022)

Other expense

(1,453)

Amortization of debt discount

 

(49)

 

(49)

 

(196)

 

(196)

Total other income (expense)

 

296

 

(693)

 

1,578

 

(3,909)

Net loss

$

(1,677,148)

$

(1,150,160)

$

(6,074,999)

$

(3,878,210)

Basic and diluted net loss per share

$

(0.05)

$

(0.04)

$

(0.18)

$

(0.12)

Weighted average common shares outstanding – basic and diluted

 

33,881,454

 

32,320,891

 

33,402,339

 

32,044,274

Copyright © 2017 Businesswire. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/CWBR/news?id=154015

Anna Wintour’s daughter is engaged to Franca Sozzani’s son (report)

The latest nuptial news might just be the most fashionable announcement since the royal wedding.

Bee Shaffer, daughter of American Vogue editor-in-chief Anna Wintour, is engaged to Francesco Carrozzini, son of the late Italian Vogue editor-in-chief Franca Sozzani, according to People. Vogue did not immediately return TheHollywood Reporter’s request for comment.

Read more: Instagram Rolling Out Shopping Feature to More Apparel, Jewelry and Beauty Brands

Shaffer, 29 and Carrozzini, 34, may be two of the most-connected people in the fashion world. However, they both chose not to follow in the footsteps of their mothers. Instead, both wound up in the fashion-adjacent entertainment industry: Shaffer works as a segment producer on Late Night With Seth Meyers, while Carrozzini — an L.A. transplant — is a filmmaker and director whose most recent work, Franca: Chaos Creation, celebrated the career of his mom, who passed in December of last year following a yearlong illness. He has also directed music videos for the likes of A$AP Rocky and Beyonce.

See photos of Bee, Francesco and their respective famous parents:

Up Next

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That being said, both have made cameos in the fashion world. Shaffer has oft accompanied her mother to the Met Gala and other red-carpet affairs, and Carrozzini has even logged a few guest judge appearances on America’s Next Top Model and directed fashion campaigns for Salvatore Ferragamo and Roberto Cavalli, as well as spreads for Vogue Italia.

Details of how the couple met are not known, but their pairing does not seem unusual considering their similar social circles, as well as their mothers’ friendship. (After Sozzani’s death, Wintour penned a tribute for American Vogue in celebration of their unique friendship.) Shaffer and Carrozzini began dating last year. Prior to Shaffer, Carrozzini was linked to Lana Del Rey.

Article source: https://www.aol.com/article/lifestyle/2017/03/22/anna-wintour-daughter-engaged-franca-carrozzini-son/21905669/

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