MONTREAL, March 27, 2020 (GLOBE NEWSWIRE) — Knight Therapeutics Inc. (TSX: GUD) (“Knight”), a leading pan-American (ex-USA) specialty pharmaceutical company, will release its fourth quarter 2019 financial results on Monday, March 30, 2020 after market closing. Following the release, Knight will hold a conference call and audio webcast. Knight cordially invites all interested parties to participate in this call.
Update due to COVID-19 pandemicThe recent outbreak of the coronavirus, or COVID-19, which has been declared by the World Health Organization to be a pandemic, has spread across the globe and is impacting worldwide economic activity. A public health pandemic, including COVID-19, poses the risk that the Company and its employees, contractors, suppliers, and other partners may be prevented from conducting business activities for an indefinite period of time, including due to shutdowns that may be requested or mandated by governmental authorities. Certain countries where the Company has significant operations, have required entities to limit or suspend business operations and have implemented travel restrictions and quarantine measures.While it is not possible at this time to estimate the impact that COVID-19 could have on the Company, the continued spread of COVID-19 and the measures taken by the governments of countries affected could disrupt the supply chain and the manufacture or shipment of product inventories and adversely impact the Company’s business, financial condition or results of operations. The COVID-19 outbreak and mitigation measures may also have an adverse impact on global economic conditions which could have an adverse effect on the Company’s business and financial condition. The extent to which the COVID-19 outbreak impacts the Company’s results will depend on future developments that are highly uncertain and cannot be predicted, including new information that may emerge concerning the severity of the virus and the actions to contain its impact.Knight is working to alleviate some of the pressure that the global COVID-19 pandemic has placed on our healthcare systems and ensure that we maintain supply of our medicines to patients. The Company and its employees have transitioned to working remotely, including our field sales and medical teams. These steps are being taken to minimize personal interaction as much as possible to stem disease spread and “flatten the curve”. In the field of pharmaceutical marketing, increased social contact, such as interactions between sales representatives or medical science liaisons with healthcare providers, has the potential to counter-act these important public health initiatives and to put our employees, patients and healthcare professionals at risk. The Company is taking steps to establish digital and virtual channels to ensure that physicians and patients continue to receive continued support. Furthermore, the Company has sufficient liquidity to meet all operating requirements for the foreseeable future. As of the date of the press release, the outbreak has not had a material impact on the Company’s results.As a result of the COVID-19 impact, the Company will be relying on the temporary relief afforded by DÉCISION N°2020-PDG-0023 of the Autorités Des Marchés Financiers in respect of the obligation to file its Annual Information Form under National Instrument 51-102, Section 6.2. The Company expects to file its Annual Information Form on or before April 30, 2020. The Company confirms that its management and other Company insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions. Other than as set forth in this press release and the annual filings to which it relates, there have been no material business developments in respect of the Company.Date: Monday, March 30, 2020
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