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Baja “Russia Northern Forest” will open the season in the Baja World Cup

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Baja "Russia Northern Forest" will open the season in the Baja World Cup
Baja "Russia Northern Forest" will open the season in the Baja World Cup

13.01.2021: Russia will become the first country in the new sports year hosting the highest racing series in the rally-raid discipline – the World Cup competition held under the aegis of FIA . The only snow-ice baja in the world will take place on February 4-7. “No

Russia will become the first country in the new sports year hosting the highest racing series in the rally-raid discipline – the World Cup competition held under the aegis of  FIA . The only snow-ice baja in the world will take place on February 4-7.  “Northern Forest” since 2003 has opened the scoring in the series and sets the racing rhythm for the season.

It`s been several years when competitions in cross country rallies for  short distances – bajas – have been taken out by the FIA in a separate series.  Unlike multi-day line races and marathons, they attract participants by the compactness of all key points of the competition and financial affordability. The race lasts 2-3 days and this allows many participants to find both the time and the opportunity to participate.

The main features of the baja, the snow and ice cover make it unique. No other country in the world can boast of such a high-level racing event.

In addition to the winter surroundings, the Russian stage of the World Cup is notable for its compactness and minimal distances (liaisons) between high-speed selective sections. The rally route goes along paved public dirt roads, closed for civilian traffic during the race, and forest paths. Unlike long line rally-raids, the “Russia – Northern Forest” baja has a looped route that allows minimizing both the distances between high-speed sections and the time of the event.

In February 2021 the Baja headquarters and service park will be located in the Igora Drive complex. A unique project combining technical sports and entertainment is located 54 km from St. Petersburg. Igora-Drive is 10 tracks for auto and motor sports, built using the most advanced world-class technologies, as well as a ring road with certification of the highest category – FIA Formula 1. Autodrom takes an active part in the development of automotive culture and safe road traffic in Russia, as well as in the training of young talents in motorsport and motorcycle disciplines.

The Russia – Northern Forest Baja events will start on Thursday with administrative checks and technical inspections, and from Friday to Sunday, participants will overcome 10 high-speed sections with a total length of 479 kilometers on snow and ice of the Leningrad Region. The Russian teams can apply both for  the World Cup classification and the first stage of the Russian Rally-Raid Championship within the framework of the competition.

In 2020, the owner of the Baja World Cup in the overall standings was Vladimir Vasiliev from St. Petersburg, and Vasily Gryazin. They won the World Cup in the SSV category. The opportunity to compete side by side with world pilots incredibly increases the motivation and skill level of Russian competitors what makes them win the brightest awards in the rally-raid World discipline.


RALLY GUIDE HERE download


Suplementary Regulations


COVID-19 Mitigation Plan

Participation:Maria Oparina
Competitors relations coordinator
+7 921 309 09 29
m.oparina@northern-forest.ru
Entries and registration
entry@northern-forest.ru

Lina Arnautova   2021 TMS, “Northern Forest” LLC – photos © bajarussia

Copetti takes Dakar Rally stage 10 win as Andujar keeps leading

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January at the start 13 quads14:39 Copetti home and dryPablo Copetti fended off Ítalo Pedemonte’s onslaught to claim his second stage win this year. A more >>

 

Yazeed Al-Rajhi wins Dakar Rally stage 10 – top 6 standings

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January at the start 54 cars       No-one except his countryman Yasir Seaidan even came close to Yazeed Al-Rajhi in more >>

 

Overall leader Nacho Cornejo out of Dakar Rally as Honda get an 1-2-3 in stage 10

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January at the start 72 bikesA rattled Nacho Cornejo has undergone a medical examination after soldiering on to the finish following his crash at km 252. Th more >>

 

Macik leads Sotnikov and Mardeev after 204 km in Dakar Rally stage 10

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January at the start 36 trucksAt PK 204 Macik moves in lead ahead of Sotnikov and Mardeev.503    M. more >>

 

Varela leads Gozal and Lopez Contardo after 162 km in Dakar Rally stage 10

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January at the start  55 lightweights   Varela leads Gozal and Lopez Contardo after 162 km. 12:13 more >>

 

Advantage Yazeed Al-Rajhi after 241 km in Dakar Rally stage 10, Sainz lost time

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January at the start 54 carsAl-Rajhi holds on and stay on top also after 241 kmYazeed Al-Rajhi co more >>

 

Pedemonte leads Copetti after 241 km in Dakar Rally stage 10

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January at the start   13 quadsAfter 241 km Pedemonte retook the lead from CopettiCopetti attacks! more >>

 

Dakar Rally stage 10 top 5 results – Benavides new overall leader

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January at the start72 bikes13 quads54 cars55 lightweights36 trucks

more >>

 

Brabec takes win in Dakar Rally stage 10 as Cornejo crashed and lost time

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January at the start72 bikes13 quads54 cars55 lightweights36 trucks2:54 Brabec takes the spoils!Ricky Brabec is the winner of s more >>

 

Dakar Rally stage 10 route, livetiming

13.01.2021

 

DAKAR RALLY 2021Stage 10 from Neom to AlUlaWednesday 13 January The rally will now head south towards Jeddah, but will feature a couple of major stops on the way. The first of these will be at Al Ula. The 583-kilometre total stage will inclu more >>

 

Tim and Tom Coronel breathing in dust in the mountains

12.01.2021

 

The ninth stage of the Dakar 2021 was not very pleasant. The route took Tim and Tom Coronel up into the mountains, through valleys and over winding, rocky paths, making it “bumpety-bump and breathing in dust” for nearly 465 kms. By driving smart and above a more >>

 

Frenchman Peterhansel extends car lead while Price is forced to retire from bike race.

12.01.2021

 

Peterhansel boosts bid for record 14th Dakar Rally win Stéphane Peterhansel extended his car lead to over 17 minutes in Saudi Arabia but two-time bike champion Toby Price is out of the running after crashing in the first half of Stage 9. more >>

 

Red Bull Desert Wings rider and driver quotes after cruel Dakar stage 9

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021Stéphane Peterhansel: “It was always going to be a long day so we decided in the morning that we would not go full attack. We wanted to mana more >>

 

Red Bull Desert Wings are given wild ride on stage 9 of Dakar Rally 2021 – video recap

12.01.2021

 

Car race leader St&eacu more >>

 

Tough day shapes race as Peterhansel, Cornejo take charge

12.01.2021

 

Many believed that Tuesday’s 465 km Dakar loop around Neom would have a hand in shaping the outcome of the 2021 race. It seems they were on the money. Overnight leaders Stephane Peterhansel and Jose Ignacio Cornejo Flormino both consolidated their advantages as Peterhansel and Kevin Benavides won the car and bike races. But there was chaos behind as the bone and heart breaking day d more >>

 

Update on C S Santosh

12.01.2021

 

In the latest update from the medical team, Santosh is stable and continues to be under observation. Based on scans and assessments, he has been cleared to be flown back to India, where he will be attended by the local doctors. He will be transferred i more >>

 

Hero MotoSports puts up another strong show in the 2021 Dakar Rally

12.01.2021

 

JOAQUIM AT 12TH AND BUHLER AT 16TH POSITION IN THE OVERALL STANDINGS In a stage that was touted to be the toughest of the 2021 Dakar, and was made even tougher by the weight of the recent past, Hero MotoSports Team Rally paid an emotional tribute to their late teammate Paulo Goncalves by delivering a strong performance in Stage 9 today. more >>

 

Monster Energy Honda Team leads as the Dakar Rally heads into the final stretch

12.01.2021

 

2021 Dakar Rally stage 92021 Dakar   Round DAK21 Tuesday, January 12th 2021The ninth stage of the Dakar turned out to be an extremely tough one. All the riders arrived at Neom exhausted after the 465-kilometre looping special more >>

 

Adrien Van Beveren Secures Strong Fifth Place Finish On Dakar Rally Stage Nine

12.01.2021

 

Monster Energy Yamaha Rally Team’s Adrien Van Beveren has recorded his best stage finish at the 2021 Dakar Rally. Finding his form during the second half of the event, the Frenchman enjoyed the technical nature of today’s special, posting the fifth fastest time through the challenging stage. more >>

 

GCK Motorsport launch hydrogen-powered vision for future Cross-Country Rallying and announce the GCK E-Blast 1 Dakar

12.01.2021

 

GCK Motorsport, part of Green Corp Konnection (GCK), today announced its ambitious plans for hydrogen-power in cross-country rallying as the answer to the industry’s quest to develop ever more sustainable racing solutions.Founded by Fren more >>

 

GCK contributes to vision of green future at Dakar 2021

12.01.2021

 

• GCK e-Blast 1 paves way for future hydrogen technology• GCK Energy powers bivouac areas at 2021 Dakar in NEOM using green energy in collaboration with Saudi solar energy leader, Desert Technologies• GCK Energy showcases fully integrated charging solution for electric vehicles, as demonstrated on the GCK e-Blast 1 more >>

 

Dakar 2021 Stage 9: First stage win for Stéphane Peterhansel

12.01.2021

 

•    Peterhansel extends his lead•    Three legs remainingStéphane Peterhansel and Edouard Boulanger (both FRA) not only took the stage win on leg nine, around the city of Neom, but the more >>

 

Tough day for KTM on Dakar stage nine

12.01.2021

 

Dakar Rally 2021 – Stage Nine

Red Bull KTM Factory Racing’s Sam Sunderland and Matthias Walkner have successfully completed an eventful stage nine of the 2021 Dakar Rally where u more >>

 

Victory for Macik, lead for Sotnikov in Dakar stage 9

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021

16:45 “Charles” wins and overall lead for Dmitry SotnikovMartin Macík has driven his truck nicknamed “Charles more >>

 

Lopez Contardo victory and overall lead after Dakar stage 9

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021Dakar stage 9 results    1        401    F. LOPEZ CONTARDO CHL&nbsp more >>

 

Dakar stage 9 Benavides provisional victory, Cornejo leads – results and standings top 30

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 202114:47 Kevin Benavides wins (provisionally…)Although Ricky Brabec and Sam Sunderland should both recover fifteen minutes at the end of the day, they have both finished more than 20’ behind the day’s quickest rider. The stage victory should therefore g more >>

 

Peterhansel’s victory and lead after Dakar stage 9 – standings top 12

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021

16:08 Peterhansel wins and increases his overall leadFollowing Mathieu Serradori’s mechanical problems, Stéphane Pete more >>

 

Macik and Mardeev fight for the victory in Dakar stage 9

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 202116:26 Macík is holding strong40 km from the finish, Martin Macík has settled into the lead with an advantage of 1’12’’ o more >>

 

Chaleco Lopez is aiming for third victory in Dakar stage 9

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021    15:50 Big blow for Quintero!    Seth Quintero, who led at the start of the special, has broken down after 210 km. more >>

 

Peterhansel takes Dakar stage 9 victory ahead of Al-Attiyah

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 202115:27 Peterhansel has reached the finish…Stéphane Peterhansel is the first driver to reach the finishing line on the da more >>

 

Dakar stage 9 Advantage Martin Macik after 320 km

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021    13:26 Casale joins the party    Ignacio Casale, the title holder in the quad category, has taken the lead after 157 km over Aliaksei Vishneuski. The Belarussian, who is only four seconds behind, is ahead of Kamaz duo Anton more >>

 

Dakar stage 9 – Peterhansel, Serradori and Al-Attiyah battle for victory

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 202113:54 Peterhansel and Serradori wheel to wheelAfter 271 km, Stéphane Peterhansel still leads, 17’’ ahead of his countryman Matthieu more >>

 

Dakar stage 9 Nacho Cornejo reaches finish, but Benavides lead despite crash

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 202113:40 Cornejo reaches the finishNacho Cornejo has just reached the finishing line on the day’s special. The Chilean is unlike more >>

 

Dakar stage 9- Domzala leads the lightweight vehicles after 157km

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021

13:20 Domżała takes the lead after 157 km    After big time losses during yesterday&rsquo more >>

 

Peterhansel in lead at Dakar stage 9 – news

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 202113:06 Serradori closes inMathieu Serradori is only ten seconds behind Stéphane Peterhansel after 198 km. The two Frencman lead third placed Yazeed Al Rajhi by 3’30’’. Giniel De Villiers occupies fourth place, more than five minutes behind the s more >>

 

Dakar stage 9 quads news – Enrico leads Giroud and Andujar after 271 km

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021    12:44 Enrico moves into the lead    After 200 km, Giovanni Enrico occupies the more >>

 

Toby Price and Luciano Benavides crashes out Dakar stage 9 and airlifted to hospital in Tabuk

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021    12:37 Luciano Benavides crashes    Luciano Benavides, who was in third place after 239 km, has crashed more >>

 

Dakar stage 9 Bikes news – a lot of difficulties

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 202112:15 Struggles for Barreda    Joan Barreda seems to be in greater difficulty than his rivals on the day’s special. Thoug more >>

 

Dakar stage 9 route, livetiming

12.01.2021

 

Dakar Rally 2021Stage 9 from Neom > NeomTuesday, January 12th 2021Stage Nine sees the convoy take on a 465-kilometre loop around the Neom bivouac against the clock. The racing starts on the shore of the Red Sea before arriving to a characteristi more >>

 

Fashion

60+ AAPI-Owned Fashion and Beauty Brands to Support and Shop Now

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60+ AAPI-Owned Fashion and Beauty Brands to Support and Shop Now
aapiowned fashion and beauty brands

May is Asian American and Pacific Islander Heritage Month, and as such, it is an especially important opportunity to support brands that are crafted, designed, and founded by people of AAPI descent. Here we’ve rounded up of some of the most stylish and fabulous AAPI beauty, fashion, jewelry, and accessory brands to shop and support now and forever.

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Sandy Liang

A native of Bayside, Queens, Sandy Liang’s collections touch on her Chinese heritage while also fusing playful tomboyish separates.

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Prabal Gurung

Beloved by the red carpet set, this Nepalese fashion designer is known for his innovative designs which are produced primarily local to NYC.

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Jason wu

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To it

The ultra-wearable and fashion forward designs from Adeam are the work of Tokyo-born designer Hanako.

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Altuzarra

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Anna Sui

The ’90s babydoll dress was practically invented by the perennially relevant Anna Sui.

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Nells Nelson

Ultra-wearable knits and suiting are the name of the Nells Nelson game, for those who lean toward comfortable separates and sets.

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Peter Do

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Commission

Design trio Huy Luong, Dylan Cao, and Jin Kay sought to re-envision their Asian heritage through western dressing sculptures, modifying cuts from the 80s that their mothers used to wear.

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Opening Ceremony

Opening Ceremony emerged on the scene in 2002, with their own fresh contemporary designs and also retail for other designers.

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Derek Lam |

Born into a family that specialized in design, Lam launched his own brand known for sophisticated feminine silhouettes fused with a relaxed sensibility.

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Thakoon

Thai-American designed Thakoon specializes in modern capsule wardrobe staples with a touch of elevated luxury.

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Delaroq

NYC-based designer Jennifer Lyu’s collection of accessories are grounded in sustainability by using only excess materials.

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Deveaux

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Issey Miyake

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Superegg

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JINsoon

JinSoon Choi’s eponymous nail collection (and salons in NYC) take high-tech polish fused with fashion-forward colors, to render her one of the most successful nail artists in the game.

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Bibhu Mohapatra

Mohapatra grew up on the east Indian coast, and his designs reflect those sumptuous and colorful textures—particularly in evening wear and cocktail dresses.

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Seree

Founded by a women-led team in NYC, the jade, agate, quartzite, and unique jewels made by Seree are ethically sourced across Asia and given a modern twist.

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Naeem Khan

Indian American fashion designer Naeem Khan is known for his intricate evening wear and gowns.

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Memorial Day

Crochet clothes and accessories worn by the likes of Ella Emhoff is made by FIT student Delsy Gouw.

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Snow Xue Gao

Parsons graduate Snow Xue Gao focuses on East-meets-West and mixed media with her up-and-coming collection.

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Paper Project

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Air Pop

Air Pop’s masks were designed to protect from not only airborne pathogens but also anthropogenic and ecological airborn threats too.

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Chunks

Chunks’ quirky and colorful accessories are responsibly made through a partnership with a Chinese manufacturer started by Seattle-based brand founder Tiffany Ju.

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Pattaraphan

Pattaraphan’s brand mission is to work with Thai artisans and ethically sourced materials to create unpretentious jewelry that is reflective of Thai craftmanship.

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Nana Jacqueline

LA-based contemporary collection, founded by two Chinese women, Nana and Jacqueline, aims to create a dual sense of lightness and bold sexiness with women’s clothing.

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V Coterie

Leena Van Merkey founded V Coterie as a means of creating thoughtfully designed jewels that are made to be easily worn by healthcare professionals—artfully made jewels for those who care.

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Bonbon Whims

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The Wobbles

The Wobbles crochet kits for beginners give users everything they need to make handmade gifts for loved ones.

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CJW

Hand illustrated accessories and loungewear are founder Christina’s playful manifesto, at a friendly price point.

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JW Pei

JW Pei specializes in ethical and sustainable vegan accessories with a modern and minimal aesthetic.

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Night

Founder Jessica Tse designs jewelry that is a quirky blend of New York taste and dolce vita wanderlust.

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Ookioh

Made out of regenerated materials, Ookioh’s swimwear is inspired by the pleasure-seeking lifestyle of Edo-era Japan.

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Rastah

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SVNR

Ethics meets aesthetics with Christina Tung’s SVNR, whose brand focuses on re-used, upcycled, and natural materials.

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Pineapple

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Pink Moon

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R0AM

ROAM has carved out a space in the footwear with their cool and sporty designs that are casual and elevated.

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Kim Shui

A truly global transplant, with parents from Beijing and Sichuan and having grown up between the US and Rome, Kim Shui’s design is a reflection of the ability to assimilate diverse techniques into a clothing collage.

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Private Policy

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KÚR

Designer Kasuni Rathnasuriya embraces the heritage and style of old Ceylon to incorporate artisanal handmade lace to contemporary design with two main collections each year.

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Senreve

Designed in NYC and crafted in Italy, Senreve is known for accessories made for a modern and professional woman.

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Wishbone

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Sundae School

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3.1 Phillip Lim

Street elegance is the name of the game for Philip Lim’s eponymous line, which first hit the scene in 2005.

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Prim Botanicals

Prim Botanicals (founded by a Filipino-born New York native) makes delicious smelling skincare that is just as yummy as it is good for your complexion. And they’re members of 1% for the Planet, too.

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Vera Wang

New York based designer Vera Wang is a fashion institution, known for exquisite red carpet gowns and bridal dresses.

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Social-Work

NY-based Social-Work was founded around creating functional and androgynous designs, subverting classical styles, and workwear basics.

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Chop Suey Club

Chop Suey is a downtown New York boutique which focuses on contemporary Chinese designs, arts, and culture, with the aim of making Chinese culture available to more audiences.

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Grace Lee

Grace Lee designs everyday fine jewelry with ethical and conflict free diamonds made to be stacked and layered.

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Neha Dani

Naja Dani is known for her jewels’ spectacular and sculptural movement in design.

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Sanjay Kasliwal

A storied heritage of jewelry design is reflected in the spectacular gemstones in this designer’s repertoire.

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Kamal

Kamal’s keepsake pieces are minimal and simply adorned—and meant to pass on.

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Aaryah

Consciously crafted meaningful jewelry that is as reflective of the craftsman as it is the wearer.

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Mizuki

Mizuki’s delicate pearl designs stand in a fresh and modern class of their own.

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Anita Ko

Anita Ko’s design ethos is feminine sophistication with a fresh twist—and an aim to be worn from day to day.

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Nam Cho

Nam Cho favors bright and fresh jewels and gemstones, for a presentation and design signature that is unlike anything on the market.

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Kavant & Sharart

Designed and founded by a couple, Kavant & Sharart makes baubles that are made to not only reflect exquisite craftsmanship, but also the personality of the wearer, meant to be passed down through generations.

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KATKIM

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Better

Mejuri fine jewelry is famously without a markup, and made with selective materials that everyone can feel good about.

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Business

Nuvation Bio Reports First Quarter 2021 Financial Results and Provides Business Update

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Nuvation Bio Reports First Quarter 2021 Financial Results and Provides Business Update

NEW YORK, May 17, 2021 /PRNewswire/ — Nuvation Bio Inc. (NYSE: NUVB), a biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel therapeutic candidates, today reported its financial results for the first quarter ended March 31, 2021, and provided a business update.

“Nuvation Bio continues to make meaningful progress on advancing our deep pipeline of therapies for difficult-to-treat cancers and remains on track to submit five additional Investigational New Drug (IND) applications by 2026,” said David Hung, M.D., founder and chief executive officer of Nuvation Bio. “We also continue to enroll and dose patients in our Phase 1/2 study of NUV-422, our lead cyclin-dependent kinase (CDK) 2/4/6 inhibitor, in high-grade gliomas and expect top-line data from the Phase 1 portion of this study in 2022. Our strong cash, cash equivalents and marketable securities of $824.7 million at the end of the first quarter provides us sufficient resources to continue to execute on our robust clinical development plan and grow our pipeline of novel and mechanistically distinct cancer treatments.”

Recent Business Highlights

  • Enrollment ongoing in Phase 1/2 study of NUV-422. Nuvation Bio continues to enroll and dose patients in the Phase 1/2 study of its lead investigational compound, NUV-422, a CDK 2/4/6 inhibitor, in adult patients with recurrent or refractory high-grade gliomas, including glioblastoma multiforme (GBM). The Phase 1 dose escalation portion of the study is designed to evaluate safety and tolerability, as well as to determine a recommended Phase 2 dose based on the tolerability profile and pharmacokinetic properties of NUV-422. The Phase 2 dose expansion portion of the study is expected to initially focus on patients with high-grade gliomas and is designed to evaluate overall response rate, duration of response and survival. Data from the Phase 1 portion of this study is expected in 2022.

First Quarter 2021 Financial Results

As of March 31, 2021, Nuvation Bio had cash, cash equivalents, and marketable securities of $824.7 million.

For the three months ended March 31, 2021, research and development expenses were $15.9 million, compared to $7.3 million for the three months ended March 31, 2020. The increase of $8.6 million was due to an increase in third-party costs related to research services and manufacturing to advance our current preclinical programs and Phase 1/2 clinical trial. Also, the current period includes approximately $3.7 million related to the issuance of common stock as consideration for the purchase of in-process research and development.

For the three months ended March 31, 2021, general and administrative expenses were $4.6 million, compared to $1.9 million for the three months ended March 31, 2020. The increase of $2.7 million was due to increased personnel-related costs driven by an increase in headcount, as well as increases in professional fees, insurance costs and tax expense.

For the three months ended March 31, 2021, Nuvation Bio reported a net loss of $20.4 million, or $(0.12) per share. This compares to a net loss of $8.7 million, or $(0.10) per share, for the comparable period in 2020.

Restatement of Panacea Financial Statements

Nuvation Bio also announced that, as reported in a Current Report on Form 8-K filed with the SEC on May 14, 2021, as a result of guidance provided by the SEC on April 12, 2021 regarding the accounting for warrants issued by special purpose acquisition companies (SPACs), it is restating the previously issued 2020 consolidated financial statements of Panacea Acquisition Corp. (Panacea). Panacea combined with Nuvation Bio Inc. (Legacy Nuvation Bio) and changed its name to Nuvation Bio Inc. on February 10, 2021 (the Merger).

The restatement pertains to the accounting treatment for Panacea’s public and private placement warrants that were outstanding on December 31, 2020, as well as the forward purchase agreement (the “FPA”) with certain anchor investors, which provided for the potential future issuance of securities, including additional warrants. Consistent with market practice among SPACs, Panacea had been accounting for the warrants and the FPA as equity under a fixed accounting model. However, in light of the recent SEC guidance, we are restating Panacea’s historical financial statements for the year ended December 31, 2020 such that the warrants and the FPA are accounted for as liabilities and marked-to-market each reporting period. In general, under the mark-to-market accounting model, we measure the fair value of the liability-classified warrants and the FPA at the end of each reporting period and recognize any changes in their fair value in our operating results. As of December 31, 2020, Panacea had 4,954,167 warrants outstanding and subject to reclassification. Upon completion of the Merger, an additional 833,333 warrants were issued pursuant to the FPA.

The change in accounting treatment does not impact the historical financial statements of Legacy Nuvation Bio, which became the historical financial statements of the combined company upon completion of the Merger. In addition, Nuvation Bio currently expects that the reclassification of the warrants will have no impact on the liquidity or cash or cash equivalents in the historical financial statements of Panacea.

About Nuvation Bio

Nuvation Bio is a biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel therapeutic candidates. Nuvation Bio’s proprietary portfolio includes six novel and mechanistically distinct oncology therapeutic product candidates, each targeting some of the most difficult-to-treat types of cancer. Nuvation Bio was founded in 2018 by biopharma industry veteran David Hung, M.D., who previously founded Medivation, Inc., which brought to patients one of the world’s leading prostate cancer medicines. Nuvation Bio has offices in New York and San Francisco. For more information, please visit www.nuvationbio.com.

Forward Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the potential therapeutic benefit of Nuvation Bio’s product candidates, expected future IND filings, the expected timing of clinical trial data and the expected impact of the restatement of Panacea’s 2020 financial statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management team of Nuvation Bio and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Nuvation Bio. Forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed in the Quarterly Report on Form 10-Q filed with the SEC on or about May 17, 2021, in the section titled “Item 1A. Risk Factors,” and other documents that Nuvation Bio has filed or will file with the SEC. If any of these risks materialize or Nuvation Bio’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Nuvation Bio does not presently know, or that Nuvation Bio currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Nuvation Bio’s expectations, plans or forecasts of future events and views as of the date of this press release. Nuvation Bio anticipates that subsequent events and developments will cause Nuvation Bio’s assessments to change. However, while Nuvation Bio may elect to update these forward-looking statements at some point in the future, Nuvation Bio specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Nuvation Bio’s assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Nuvation Bio Investor Contact:
[email protected]

Nuvation Bio Media Contact:
Argot Partners
Leo Vartorella
[email protected]

NUVATION BIO INC. and Subsidiaries








Condensed Balance Sheets




‘(In thousands, except share and per share data)

March 31,


December 31,


2021


2020





Assets








Current assets:




Cash and cash equivalents

$    638,904


$             29,755

Prepaid expenses

5,138


914

Marketable securities available-for-sale, at fair value

185,809


185,997

Interest receivable on marketable securities

1,015


1,092

Deferred financing costs


2,925

Total current assets

830,866


220,683





Property and equipment, net

772


688





Other assets:




Lease security deposit

421


421





Total assets

$    832,059


$           221,792





Liabilities and stockholders’ equity







Current liabilities:




Accounts payable

$        6,003


$               2,171

Accrued expenses

3,984


4,380

Total current liabilities

9,987


6,551

Warrant liability

15,561


Deferred rent – non current

167


157

Total liabilities

25,715


6,708





Commitments and contingencies (Note 11)








Stockholders’ equity




Class A and Class B common stock and additional paid in capital, $0.0001 par value per share;




1,060,000,000 shares authorized as of March 31, 2021 (Class A 1,000,000,000, Class B 60,000,000)




and 1,174,094,678 shares authorized as of December 31, 2020 (Class A 880,000,000, Class B 294,094,678);




217,650,055 (Class A 216,650,055, Class B 1,000,000) and 149,042,155 (Class A 91,397,142,




Class B 57,645,013) issued and outstanding as of March 31, 2021 and December 31, 2020, respectively

901,720


289,482

Accumulated deficit

(96,357)


(75,955)

Accumulated other comprehensive income

981


1,557

Total stockholders’ equity

806,344


215,084





Total liabilities and stockholders’ equity

$    832,059


$           221,792

NUVATION BIO INC. and Subsidiaries








Condensed Statements of Operations and Comprehensive Loss




(In thousands, except share and per share data)








For The Three Months Ended March 31,

2021


2020









Operating expenses:




Research and development

$       15,879


$       7,295

General and administrative

4,605


1,925

Total operating expenses

20,484


9,220





Loss from operations

(20,484)


(9,220)





Other income (expense):




Interest income

438


519

Investment advisory fees

(108)


(60)

Change in fair value of warrant liability

(293)


Realized gain on marketable securities

45


15

Total other income (expense)

82


474





Loss before income taxes

(20,402)


(8,746)





Provision for income taxes






Net loss

$     (20,402)


$     (8,746)

Net loss attributable to common stockholders




Net loss per share attributable to common stockholders, basic and diluted

$        (0.12)


$       (0.10)

Weighted average common shares outstanding, basic and diluted

169,659,037


85,714,375





Comprehensive loss:




Net loss

$     (20,402)


$     (8,746)

Other comprehensive income, net of taxes:




Change in unrealized (loss) gain on available-for-sale securities

(576)


819





Comprehensive loss

$     (20,978)


$     (7,927)

SOURCE Nuvation Bio, Inc.

Related Links

www.nuvationbio.com

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Get to Know the 12- Player Beach Soccer National Team

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Get to Know the 12- Player Beach Soccer National Team


USA ROSTER FOR 2021 CONCACAF BEACH SOCCER CHAMPIONSHIP

GOALKEEPERS (2): 1-Chris Toth (San Marcos, Calif., 12-Esteban Sapetnitzky (Miami, Fla.)


DEFENDERS (4):
2-Jason Santos (Cardiff-By-Sea, Calif.), 3-David Mondragon (Santa Cruz, Calif.), 5-Nicolas Perea (Hollywood, Fla.), 10-Gabe Silveira (San Francisco, Calif.)


FORWARDS (6):
4-Fredo Dilbert (Miami, Fla.), 6-Chris Albiston (Virginia Beach, Va.),7-Nick Perera (Carlsbad, Calif.), 8-Alessandro Canale (Venice, Calif.) 9-Antonio Chavez (Oceanside, Cali.), 11-Conner Rezende (Davie, Fla.)

Head Coach: Francis Farberoff (Miami, Fla.)

Assistant Coach: Ben Astorga (Miami, Fla.)

Performance Coach: Daniel Wartner (Atlanta, Ga.)

USA ROSTER NUMERICAL

Jersey #, Name, Position, Age, Height, Weight, Hometown


#1 CHRIS TOTH | GOALKEEPER | 31 | 6-1 | 178 | SAN MARCOS, CALIF.

Born August 4, 1989 in San Diego, Calif…is a third generation goalkeeper: grandfather György was well-known pro outdoor player in Hungary…father, Zoltan, also a former Hungarian international, defected to the USA and became a legend in the pro indoor game with the San Diego Sockers…Born with a rare heart condition that required surgery at birth, Chris attended Fallbrook HS and was a field player until doctors discover that he would need another heart procedure…following surgery was advised to consider less running – and so he turned to goalkeeping…played one year at Mira Costa College before turning pro and has been one of the top goalkeepers in both pro indoor and international beach soccer for several years…has played in the MASL with San Diego, Ontario and Tacoma, winning three Goalkeeper of the Year awards…has played Beach with clubs in Spain and Hungary, and has been named Top 50 Beach Soccer Players in the world three times…member of the U.S. Beach NT at the 2013 and 2019 (1 goal) FIFA Beach Soccer World Cups… has six career WCQ goals in four Concacaf Championships: 1 in 2013, 2 in 2015, 3 in 2017, 0 in 2019…WATCH: 12 STORIES PROFILE…IG: @christoth31


#2 JASON SANTOS | DEFENDER | 32 | 6-0 | 185 | CARDIFF BY THE SEA, CALIF.

Born June 29, 1988 in Southern California…has Spanish and Mexican ancestry…played at La Costa Canyon High School (league All-American) and club with Surf Soccer in Del Mar, Calif…played at UC Davis, graduating with a degree in Civil and Environmental Engineering…had tryouts in Mexico and Spain, and pro indoor stint with San Diego Sockers…while always into his studies and soccer, enjoys the surf and the snow with the occasional attempts to learn how to fly through skydiving…made his Beach NT debut against Japan in the 2014 Portugal Mundialito…next month scored hat trick against Brazil in Florida…member of USA teams at the 2015, 2017 (2 goals) and 2019 Concacaf Championships and 2019 FIFA Beach Soccer World Cup (1 goal)…is a Civil Engineer in San Diego…volunteers his time helping teach land development to high school and college students…WATCH: 12 STORIES PROFILE…IG: @sandtoesesq


#3 DAVID MONDRAGON | DEFENDER | 29 | 5-6 | 156 | SANTA CRUZ, CALIF.

Born Oct. 18, 1991 in Santa Cruz, Calif… Nicknamed ‘GuI was,’…parents are from Mexico…Played club with Santa Cruz County Breakers and De Anza Force, and briefly at Cabrillo College…was introduced to beach soccer at age 13 and influenced by former U.S. Beach MNT players Jevan Albuquerque and Yuri Morales…paid his way to tryout with U.S. Beach MNT but was not selected…later was on a club team that scrimmaged the USA and caught coach’s eye after scoring twice…debut with Beach MNT in 2017 Puerto Vallarta Cup against France…first goal was against Colombia, and also scored against Mexico – celebrating by doing the CauhtemIt’smoc Blanco pose (his idol)…scored 3 goals at the 2019 Concacaf Beach Soccer Championship and was member of the USA team at the 2019 FIFA Beach Soccer World Cup…WATCH: 12 STORIES PROFILE… IG: @wedventures


#4 FREDO DILBERT | FORWARD | 23 | 5-9 | 140 | MIAMI, FLA.

Born Nov. 25, 1997 in Miami…full name is Wilfredo Antonio Ramos Dilbert…mom Alicia Hodgson is from Honduras…dad Erich Kuhnke is born in Miami but raised in Germany and played for Frankfurt’s reserve team and in the beach soccer circuit for over 20 years…was always home-schooled, and played for Sports Leadership & Management High School in Miami…played club with Miami Shores, and began playing beach soccer at age 14…was recruited to play at Florida Gulf Coast Univ but did not attend…briefly attended and played at Palm Beach Atlantic Univ…had 1.5 month trial at Fortuna Dusseldorf and continues to pursue a career in beach soccer….earned first Beach NT cap against Iran at the 2018 Intercontinental Cup in Dubai…was among the final 15 player pool for the 2019 FIFA Beach Soccer World Cup but did not make the final 12-player roster…IG: @fredoad


#5 NICOLAS PEREA | DEFENDER | 28 | 6-0 | 168 | HALLANDALE BEACH, FLA.

Born August 6, 1992 in in Bucaramanga, Colombia…friends refer to him as Nico (“Neeko”)…moved to USA when he was seven…bilingual ENG/ESP… played club at Weston FC…played four years at Syracuse University, first Orangemen men’s soccer team to qualify for NCAA College Cup tournament…made Sweet 16 as sophomore year…graduated with Psychology degree…played with Jacksonville Armada and Rio Grande Valley…was identify by Beach MNT coach Farberoff during 2018 camp in Ft. Lauderdale…first Beach NT camp was January 2019…joined Indy Eleven for 2019 season…assists IG influencer and girlfriend Taylor Dante with handle @taystytravels with creative content and logistic…IG: @nicolasperea


#6 CHRIS ALBISTON | FORWARD | 28 | 6-0 | 165 | VIRGINIA BEACH, VA

Born Sept. 26, 1992 in Virginia Beach… played club soccer with Beach FC…played at Frank W. Cox High School, helping team to 25-0 record and a No.1 national ranking per ESPN.com in 2010…back-to-back state champs (2009 and 2010)…played four years at William & Mary University, graduating in 2015…then attended four years at Univ. of Richmond Law School…played for HRSC Elite in the North American Sand Soccer Championships U.S. Open and caught the eyes of Beach NT coaches…made Beach MNT debut at the 2018 Balaton Cup in Hungary against Japan, scoring the tying goal in 5-3 win…was among the final 15 player pool for the 2019 FIFA Beach Soccer World Cup but did not make the final 12-player roster…passed bar exam in fall of 2019 and is an attorney in Virginia…IG: @chris_albiston


#7 NICK PERERA | FORWARD | 34 | 6-3 | 200 | ENCINITAS, CALIF.

Born June 5, 1986…in Madrid, Spain to American mom, Spanish dad…family moved to Brussels Belgium when he was one year old…speaks English, Spanish, French, Dutch, Italian and Portuguese…family moved to San Diego, Calif. when he was 18…played at UC Santa Barbara as a walk-on, later leading the school to the 2006 NCAA College Cup final, scoring in the 2-1 win over UCLA…graduated with English degree…joined two Spanish lower division clubs but chose to return to San Diego and tried out for indoor giants, San Diego Sockers…simultaneously introduced to beach, and committed to the five-aside disciplines…made Beach MNT debut in 2011 at Miami Cup against Mexico, Spain and Brazil…is the USA’s all-time leading scorer with 99 goals entering 2021, and 37 goals in WCQ…has scored 7 goals at two FIFA Beach Soccer World Cups (5 in 2013, 2 in 2019) …current player/coach of Tacoma Stars (MASL)…has earned numerous accolades on turf and sand, including MASL MVP (2019) and three Top 50 Beach Soccer Player Worldwide twice…WATCH: 12 STORIES PROFILE…IG: @nickperera_soccer


#8 ALESSANDRO CANALE | FORWARD | 31 | 5-9 | 180 | VENICE BEACH, CALIF.

Born Dec. 29, 1989 in Santa Monica, Calif and grew up in Venice Beach…dad is Italian, mom is from Costa Rica…played club soccer for Santa Monica United Scorpions; played at Santa Monica High School, also one year at Santa Monica College before transferring to UC-San Diego for final two years, where he earned degree in Urban Studies and Planning…has appeared in Oreos, KFC, Dr. Pepper commercials and episode of Malcolm in the Middle…dad is an actor…made Beach MNT debut in 2013 versus El Salvador…youngest member of the 2013 FIFA Beach Soccer World Cup team (2 goals), and veteran of 2019 World Cup (3 goals)…fourth all-time leading scorer in World Cup Qualifying with 14 goals…played for the Tacoma Stars (MASL) during the 2020-21 season…owns a boutique creative design business called “Pattern Pending”…WATCH: 12 STORIES PROFILE… IG: @ssvndro


#9 ANTONIO CHAVEZ | FORWARD | 20 | 6-1 | 167 | OCEANSIDE, CALIF.

Born Jan. 30, 2001 in Oceanside…Mexican heritage through grandparents…older sister Graciela introduced him to soccer as kid…played club at Oceanside Breakers…played at El Camino High School…currently attending and playing at University of Saint Katherine…majoring in Kinesiology…Dad introduced hair philosophy “It ain’t hip until it’s to the hip” so Antonio has had long hair since first grade…has been playing beach soccer since 10 when youth club entered Oceanside Beach Soccer Championship…has been playing with SoCal Legacy beach soccer club, including tournaments in Portugal, Virginia Beach and Florida…saw IG post about NBSL in Ft. Lauderdale and teammates entered the tournament in December, where he caught the eye of Beach MNT coach Farberoff…is making his first U.S. Beach NT camp and potential debut…IG: @@antonio_chavez9


#10 GABRIEL SILVEIRA | DEFENDER| 29 | 5-9 | 165 | SAN FRANCISCO, CALIF.

Born April 28, 1992 in Greenbrae, Calif…both parents are from Brasilia, Brazil…moved back to live in Natal, Brazil from ages 2-7 before returning to Northern Calif…fluent in both Portuguese and English…played all forms of soccer growing up from futsal to beach and traditional 11v11…played club soccer with Marin FC and futsal with Bay Area club DiBufala…played at Redwood HS and four years at Sacramento State before graduating with an International Business degree…earned first Beach MNT cap against Japan at the 2018 Balaton Beach Soccer Cup in Hungary…injured during the 2019 pre- WCQ camp but returned and made the 2019 FIFA Beach Soccer World Cup roster…joined the US Futsal National team in Croatia for a preparatory camp early 2020…WATCH: 12 STORIES PROFILE… IG: gcamelosilveira


#11 CONNER REZENDE | FORWARD | 28 | 5-8 | 160 | DAVIE, FLA

Born Jan, 21, 1993 in Greenwich, Connecticut…grew up Davie, Fla…Dad is from Brazil…identical twin brother Calvin, currently playing at Moratalaz in Spain…played club at Weston SC…played and attended U (University) High School…played for Univ. of Virginia as freshman in 2011…left for Europe, trained with Italian club Cortone FC and Spanish side Cadiz…returned to US and attended / played at Saint Francis University in PA, graduated with Business degree…played for Miami FC under Alessandro Nesta…America Ninja Warrior contestant in 2016…first taste of beach was in 2011 when he played with FBS at Virginia beach tourney…first call up to Beach NT was in Jan.. 2017, in a combined camp with Japan’s Beach NT in Ft. Lauderdale…provides personal fitness plans and challenges on self-named influencer YouTube channel…IG: @_kiingcon


#12 ESTEBAN SAPETNITZKY | GOALKEEPER | 24 | 5-10 | 160 | MIAMI, FLA.

Born Sept. 15, 1996 in Miami, FLA…parents from Argentina…bilingual in Spanish and English…attended and played at Gulliver Prep HS, two-time Florida state champs…played club at Coral Gables Toros…competed against a number of Argentina youth club in Buenos Aires with Florida teammates in 2011-12…played one year at Clark University before transferring and graduating from Babson College with Business degree…Played at FBS FC at the Virginia Beach Tourney in 2013…picked beach soccer back up during Covid-19 in summer 2020 and worked his way into the team…first official MNT camp and looking to make debut…works as an associated at Crystal Lagoon U.S. Corp…IG: @estebansapet

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