Final Attendee List
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Corporate Governance
Strategic report Governance and remuneration Financial statements Investor information Corporate Governance In this section Chairman’s Governance statement 78 The Board 80 Corporate Executive Team 83 Board architecture 85 Board roles and responsibilities 86 Board activity and principal decisions 87 Our purpose, values and culture 90 The Board’s approach to engagement 91 Board performance 94 Board Committee information 96 Our Board Committee reports 97 Section 172 statement 108 Directors’ report 109 GSK Annual Report 2020 77 Chairman’s Governance statement In last year’s Governance statement, I explained that our primary Education and focus on Science objective for 2020 was to ensure there was clarity between the Given the critical importance of strengthening the pipeline, Board and management on GSK’s execution of strategy and its the Board has benefitted from devoting a higher proportion of operational priorities. We have aligned our long-term priorities its time in understanding the science behind our strategy and of Innovation, Performance and Trust powered by culture testing its application. It is important that the Board has a and agreed on the metrics to measure delivery against them. working understanding of the key strategic themes upon The Board’s annual cycle of meetings ensures that all major which our R&D strategy is based. These themes have been components of our strategy are reviewed over the course complemented by Board R&D science thematic deep dives. of the year. Our focus was on the fundamentals of our strategy: human The COVID-19 pandemic impacted and dominated all our genetics, the immune system and AI and ML, as well as to lives for the majority of 2020. -
PEDIARIX Is a Vaccine
HIGHLIGHTS OF PRESCRIBING INFORMATION • If Guillain-Barré syndrome occurs within 6 weeks of receipt of a prior These highlights do not include all the information needed to use vaccine containing tetanus toxoid, the decision to give PEDIARIX should PEDIARIX safely and effectively. See full prescribing information for be based on potential benefits and risks. (5.2) PEDIARIX. • The tip caps of the prefilled syringes contain natural rubber latex which may cause allergic reactions. (5.3) PEDIARIX [Diphtheria and Tetanus Toxoids and Acellular Pertussis • Syncope (fainting) can occur in association with administration of Adsorbed, Hepatitis B (Recombinant) and Inactivated Poliovirus injectable vaccines, including PEDIARIX. Procedures should be in place Vaccine], Suspension for Intramuscular Injection to avoid falling injury and to restore cerebral perfusion following Initial U.S. Approval: 2002 syncope. (5.4) • If temperature ≥105°F, collapse or shock-like state, or persistent, ----------------------------- INDICATIONS AND USAGE ---------------------------- PEDIARIX is a vaccine indicated for active immunization against diphtheria, inconsolable crying lasting ≥3 hours have occurred within 48 hours after tetanus, pertussis, infection caused by all known subtypes of hepatitis B virus, receipt of a pertussis-containing vaccine, or if seizures have occurred and poliomyelitis. PEDIARIX is approved for use as a 3-dose series in infants within 3 days after receipt of a pertussis-containing vaccine, the decision born of hepatitis B surface antigen (HBsAg)-negative mothers. PEDIARIX to give PEDIARIX should be based on potential benefits and risks. (5.5) may be given as early as 6 weeks of age through 6 years of age (prior to the • For children at higher risk for seizures, an antipyretic may be 7th birthday). -
Q1 Pharma Sector Snapshot
SPECIALTY & GENERIC PHARMA Q1 2021 Report Market Commentary – Debt Capital Markets Debt Markets ▪ 2020 saw increased amounts of debt used in buyouts across the board, resulting in the highest debt / EBITDA Median US Buyout Multiples levels since 2014 − The increased use of debt was driven by 2H20 back- end loaded lending activity (primarily 4Q20) as 16.0x 12.7x 14.1x 12.2x 12.0x 11.6x 11.5x certainty around the U.S. election and vaccination 11.1x 10.0x 9.8x 12.0x 9.7x expectations increased 9.4x 8.6x 8.3x 8.2x 7.5x 7.8x 5.2x 6.7x 5.7x 5.6x ▪ 8.0x 5.9x As the effects of COVID now begin to diminish, debt 5.4x 4.4x 4.1x 3.7x 4.6x 4.3x 3.8x markets have seemingly recovered, signaling that 3.6x lenders have become increasingly comfortable with 4.0x 4.3x 6.9x 6.5x 6.3x 6.0x 5.9x 5.7x 5.7x 5.7x 5.7x 5.6x 5.3x 4.5x 4.4x macroeconomic and company-specific fundamentals 4.3x 0.0x 3.2x − With increased confidence, lenders are currently looking to provide strong leverage for high-quality assets, particularly ones that have proven their Debt/EBITDA Equity/EBITDA EV/EBITDA stability through the recent market downturn Source: PitchBook ▪ The spread on U.S. high-yield debt has returned to pre- Historical US High Yield Debt Effective Yield COVID levels − 4.22% current effective yield compared with a 12.0% 11.4% 11.38% effective yield on March 23, 2020 (peak of the pandemic) 9.0% ▪ We expect increased activity by lenders in 2021 due to: 6.0% 4.2% − Pent-up demand in M&A activity driven by the impact of COVID 3.0% − Limited Partner agreements and investor -
Perrigo Needs Deal to Thwart Mylan
November 02, 2015 Perrigo needs deal to thwart Mylan Madeleine Armstrong Perrigo continues to resist Mylan’s overtures, but a deal is looking increasingly likely after its attempts to block the buy in court failed. Mylan has until November 13 to tempt Perrigo shareholders under Irish takeover rules. An acquisition of its own might now be the only hope for Perrigo in this buy-or-be-bought saga. But, with increasing consolidation in the speciality pharma space, the pool of potential targets is dwindling (see table below). The best option looks like Endo International, though its market cap of nearly $14bn might make it too big a bite for Perrigo, which has just $5bn in cash. But if Perrigo could pull it off it would gain a company with one of the best forecast growth rates in mid-tier pharma. Jazz Pharmaceuticals, Meda or Lundbeck could be easier to digest but the last, with faltering sales, might not be such an attractive proposition. Perrigo and its potential acquisition targets Company Based Market cap ($bn) 2014 sales ($m) 2020e sales ($m) CAGR Perrigo Ireland 23.1 815 1,388 +9% Endo International US 13.6 2,053 5,616 +18% Jazz Pharmaceuticals Ireland 8.4 1,163 2,151 +11 Lundbeck Denmark 5.9 2,222 1,974 -2% Meda Sweden 5.4 1,963 2,519 +4% Last line of defence Perrigo’s chief executive, Joseph Papa, is standing firm but the company’s share price closed down 5% at $157.74 on Friday, well off its 2015 high of $203.69 in April after Mylan formalised its bid (Mylan anti-chain action as good as confirms Teva interest, April 09, 2015). -
Generic Pharma
SPECIALTY/GENERIC PHARMA SECTOR SNAPSHOT April 2019 Branded Specialty Pharma – Transaction Comps USD in millions Announced Geographic Enterprise EV / EV / Date Target Target Description Buyer Location Value LTM Revenue LTM EBITDA LTM Revenue LTM EBITDA Specialty pharmaceutical company focused in hospital InvaGen Nov-18 Avenue Therapeutics USA $210.2 NA NA NA NA products Pharmaceuticals Specialty pharmaceutical company focused in Oct-18 Corium International Gurnet Point Capital USA $492.5 $36.5 ($44.0) 13.5x NM transdermal and transmucosal products NextWave Specialty pharmaceutical company focused in Sep-18 Tris Pharma USA NA NA NA NA NA Pharmaceuticals pediatric CNS products Specialty pharmaceutical company focused in opioid Aug-18 Adapt Pharma Emergent BioSolutions Ireland $719.8 NA NA NA NA abuse products Sylvant from Johnson & Branded product for the treatment of Casteleman's Jul-18 EUSA Pharma Ireland $115.0 NA NA NA NA Johnson disease Femring in US from May-18 Branded women's health products Millicent Pharma USA $75.0 $23.0 $17.0 3.3x 4.4x Allergan Pancreaze from Johnson & Branded pancreatice enzyme replacement therapy May-18 VIVUS USA $135.0 $35.2 -- 3.8x -- Johnson product Specialty pharmaceutical company with focus across May-18 Willow Biopharma VIVUS Canada NA NA NA NA NA various therapeutic areas Large pharmaceuctical company with products across Apr-18 Shire Takeda Pharmaceutical Ireland $80,535.0 $15,354.0 $6,449.9 5.2x 12.5x a range of therapeutic areas and geographies Specialty pharmaceutical company focused on Feb-18 Altius -
GLAXOSMITHKLINE LLC V. TEVA PHARMACEUTICALS USA, INC
Case: 18-1976 Document: 111 Page: 1 Filed: 10/02/2020 United States Court of Appeals for the Federal Circuit ______________________ GLAXOSMITHKLINE LLC, SMITHKLINE BEECHAM (CORK) LIMITED, Plaintiffs-Appellants v. TEVA PHARMACEUTICALS USA, INC., Defendant-Cross-Appellant ______________________ 2018-1976, 2018-2023 ______________________ Appeals from the United States District Court for the District of Delaware in No. 1:14-cv-00878-LPS-CJB, Chief Judge Leonard P. Stark. ______________________ Decided: October 2, 2020 ______________________ JUANITA ROSE BROOKS, Fish & Richardson, PC, San Diego, CA, argued for plaintiffs-appellants. Also represented by MICHAEL ARI AMON, CRAIG E. COUNTRYMAN, JONATHAN ELLIOT SINGER; ELIZABETH M. FLANAGAN, MICHAEL J. KANE, WILLIAM WOODFORD, Minneapolis, MN; DOUGLAS E. MCCANN, Wilmington, DE. WILLIAM M. JAY, Goodwin Procter LLP, Washington, DC, argued for defendant-cross-appellant. Also represented by JAIME ANN SANTOS; ELAINE BLAIS, J. Case: 18-1976 Document: 111 Page: 2 Filed: 10/02/2020 2 GLAXOSMITHKLINE LLC v. TEVA PHARMACEUTICALS USA, INC. ANTHONY DOWNS, ROBERT FREDERICKSON, III, CHRISTOPHER T. HOLDING, ALEXANDRA LU, LANA S. SHIFERMAN, DARYL L. WIESEN, Boston, MA; IRA J. LEVY, New York, NY. HANSJORG SAUER, Biotechnology Innovation Organization, Washington, DC, for amicus curiae Biotechnology Innovation Organization. Also represented by MELISSA A. BRAND; BRIAN PAUL BARRETT, Eli Lilly and Company, Indianapolis, IN. MICHAEL N. KENNEDY, Covington & Burling LLP, Washington, DC, for amicus curiae Pharmaceutical Research and Manufacturers of America. Also represented by STEVEN JOHN WINKELMAN; DAVID EVAN KORN, Pharmaceutical Research and Manufacturers Association of America, Washington, DC. ANDREW CURTIS NICHOLS, Winston & Strawn LLP, Washington, DC, for amicus curiae Association for Accessible Medicines. Also represented by GEORGE C. -
Declarations of Interest Thorax: First Published As 10.1136/Thoraxjnl-2016-209333.476 on 15 November 2016
Declarations of interest Thorax: first published as 10.1136/thoraxjnl-2016-209333.476 on 15 November 2016. Downloaded from KF Rabe reports financial for support for consultancy work P297 LUNG-FUNCTION PROFILE BEFORE AND AFTER THE from AstraZeneca, Chiesi, Novartis, MSD and GlaxoSmithKline, FIRST MODERATE TO SEVERE EXACERBATION DURING and grants from Altana, Novartis, AstraZeneca, MSD and THE WISDOM STUDY Nycomed. F Maltais reports financial support from Boehringer Ingelheim 10.1136/thoraxjnl-2016-209333.476 during the conduct of the study and, outside of the submitted work, financial support from Boehringer Ingelheim and GlaxoS- E Wouters, outside of the submitted work, reports personal fees mithKline for attendance at advisory boards, financial support from AstraZeneca, GlaxoSmithKline, Novartis, Takeda, Pfizer from Boehringer Ingelheim, GlaxoSmithKline, AstraZeneca and and Boehringer Ingelheim, and grants from AstraZeneca, GlaxoS- Novartis for speaking activities, and research support from Boeh- mithKline and Novartis. ringer Ingelheim, GlaxoSmithKline, AstraZeneca, Nycomed and H Magnussen received funding from Almirall, AstraZeneca, Novartis. Boehringer Ingelheim, Chiesi, GlaxoSmithKline, Merck, Novar- tis, Takeda and Roche to conduct clinical studies, and has spoken at meetings and is a member of advisory boards for these and P295 EFFICACY AND SAFETY OF TIOTROPIUM/OLODATEROL other companies. IN PATIENTS WITH COPD BY ATS CATEGORY R Rodriguez-Roisin reports personal fees from AstraZeneca, Boehringer Ingelheim, Mylan, Pearl Therapeutics, Takeda, Teva 10.1136/thoraxjnl-2016-209333.474 and Ferrer, and grants and personal fees from Menarini and Almirall. F Maltais reports financial support from Boehringer Ingelheim K Tetzlaff and S Bell are employees of Boehringer Ingelheim during the conduct of the study and, outside of the submitted Pharma GmbH & Co. -
Other Statutory Disclosures Continued
Other statutory disclosures continued Strategic reportGroup companies Governance & remuneration Financial statements In accordance with Section 409 of the Companies Act 2006 a full list of subsidiaries, associates, joint ventures and joint arrangements, the country of incorporation and effective percentage of equity owned, as at 31 December 2015 are disclosed below. Unless otherwise stated the share capital disclosed comprises ordinary shares which are indirectly held by GlaxoSmithKline plc. All subsidiary companies are resident for tax purposes in their country of incorporation unless otherwise stated. Country of Effective % % Held by Name incorporation Ownership Security Class of Share Wholly owned subsidiaries 1506369 Alberta ULC Canada 100 Common 100 Action Potential Venture Capital Limited England & Wales 100 Ordinary 100 Adechsa GmbH Switzerland 100 Ordinary 100 Affymax Research Institute United States 100 Common 100 Alenfarma – Especialidades Farmaceuticas, Limitada (iv) Portugal 100 Ordinary Quota 100 Allen & Hanburys Limited (iv) England & Wales 100 Ordinary 100 Allen & Hanburys Pharmaceutical Nigeria Limited Nigeria 100 Ordinary 100 Allen Farmaceutica, S.A. Spain 100 Ordinary 100 Allen Pharmazeutika Gesellschaft m.b.H. Austria 100 Ordinary 100 Aners S.A (iv) Argentina 100 Non-endorsable Nominative Ordinary 100 Barrier Therapeutics, Inc. United States 100 Common 100 Beecham Group p l c England & Wales 100 20p Shares 'A'; 5p Shares B 100 Beecham Pharmaceuticals (Pte) Limited Singapore 100 Ordinary 100 Beecham Pharmaceuticals S.A (iv) (vi) Ecuador 100 Nominative 100 Beecham Portuguesa-Produtos Farmaceuticos e Quimicos, Lda Portugal 100 Ordinary Quota 100 Beecham S.A. (iv) Belgium 100 Ordinary 100 Biddle Sawyer Limited India 100 Equity 100 Biovesta Ilaçlari Ltd. Sti. Turkey 100 Nominative 100 Burroughs Wellcome & Co (Australia) Pty Limited (iv) (vi) Australia 100 Ordinary 100 Burroughs Wellcome & Co (Bangladesh) Limited Bangladesh 100 Ordinary 100 Burroughs Wellcome International Limited England & Wales 100 Ordinary 100 Caribbean Chemical Company, Ltd. -
Management Team
Management Team Bruce C. Cozadd Executive Chairman Bruce Cozadd joined Jazz Pharmaceuticals at its inception. From 2001 until he joined Jazz Pharmaceuticals, Mr. Cozadd served as a consultant to companies in the biopharmaceutical industry. From 1991 until 2001, he held various positions with ALZA Corporation, a pharmaceutical company now owned by Johnson & Johnson, most recently as its Executive Vice President and Chief Operating Officer, with responsibility for research and development, manufacturing and sales and marketing. Previously at ALZA Corporation he held the roles of Chief Financial Officer and Vice President, Corporate Planning and Analysis. Mr. Cozadd received a B.S. from Yale University and an M.B.A. from the Stanford Graduate School of Business. Mr. Cozadd serves on the boards of Cerus Corporation, a biopharmaceutical company; Threshold Pharmaceuticals, a biotechnology company; and The Nueva School and Stanford Hospital and Clinics, both non-profit organizations. Samuel R. Saks, MD Chief Executive Officer Samuel Saks, M.D., joined Jazz Pharmaceuticals at its inception. From 2001 until he joined Jazz Pharmaceuticals, Dr. Saks was Company Group Chairman of ALZA Corporation and served as a member of the Johnson & Johnson Pharmaceutical Group Operating Committee. From 1992 until 2001, he held various positions with ALZA Corporation, most recently as its Chief Medical Officer and Group Vice President, where he was responsible for clinical and commercial activities. Dr. Saks received a B.S. and an M.D. from the University of Illinois. Dr. Saks serves on the board of Trubion Pharmaceuticals and Cougar Biotechnology. Robert M. Myers President Robert Myers joined Jazz Pharmaceuticals at its inception and was appointed as Jazz Pharmaceuticals’ President in March 2007. -
Medicaid System (Mmis) Illinois Department of Run Date: 08/08/2015 Provider Subsystem Healthcare and Family Services Run Time: 21:25:58 Report Id 2794D052 Page: 01
MEDICAID SYSTEM (MMIS) ILLINOIS DEPARTMENT OF RUN DATE: 08/08/2015 PROVIDER SUBSYSTEM HEALTHCARE AND FAMILY SERVICES RUN TIME: 21:25:58 REPORT ID 2794D052 PAGE: 01 ALPHA COMPLETE LIST OF PHARMACEUTICAL LABELERS WITH SIGNED REBATE AGREEMENTS IN EFFECT AS OF 10/01/2015 NDC NDC PREFIX LABELER NAME PREFIX LABELER NAME 68782 (OSI) EYETECH 65162 AMNEAL PHARMACEUTICALS LLC 00074 ABBOTT LABORATORIES 69238 AMNEAL PHARMACEUTICALS, LLC 68817 ABRAXIS BIOSCIENCE, LLC 53150 AMNEAL-AGILA, LLC 16729 ACCORD HEALTHCARE INCORPORATED 00548 AMPHASTAR PHARMACEUTICALS, INC. 42192 ACELLA PHARMACEUTICALS, LLC 66780 AMYLIN PHARMACEUTICALS, INC. 10144 ACORDA THERAPEUTICS, INC. 55724 ANACOR PHARMACEUTICALS 00472 ACTAVIS 10370 ANCHEN PHARMACEUTICALS, INC. 00228 ACTAVIS ELIZABETH LLC 62559 ANIP ACQUISITION COMPANY 45963 ACTAVIS INC. 54436 ANTARES PHARMA, INC. 46987 ACTAVIS KADIAN LLC 52609 APO-PHARMA USA, INC. 49687 ACTAVIS KADIAN LLC 60505 APOTEX CORP. 14550 ACTAVIS PHARMA MFGING PRIVATE LIMITED 63323 APP PHARMACEUTICALS, LLC. 67767 ACTAVIS SOUTH ATLANTIC 42865 APTALIS PHARMA US, INC 66215 ACTELION PHARMACEUTICALS U.S., INC. 58914 APTALIS PHARMA US, INC. 52244 ACTIENT PHARMACEUTICALS 13310 AR SCIENTIFIC, INC. 75989 ACTON PHARMACEUTICALS 08221 ARBOR PHARM IRELAND LIMITED 76431 AEGERION PHARMACEUTICALS, INC. 60631 ARBOR PHARMACEUTICALS IRELAND LIMITED 50102 AFAXYS, INC. 24338 ARBOR PHARMACEUTICALS, INC. 10572 AFFORDABLE PHARMACEUTICALS, LLC 59923 AREVA PHARMACEUTICALS 27241 AJANTA PHARMA LIMITED 76189 ARIAD PHARMACEUTICALS, INC. 17478 AKORN INC 24486 ARISTOS PHARMACEUTICALS, INC. 24090 AKRIMAX PHARMACEUTICALS LLC 67877 ASCEND LABORATORIES, L.L.C. 68220 ALAVEN PHARMACEUTICAL, LLC 76388 ASPEN GLOBAL INC. 00065 ALCON LABORATORIES, INC. 51248 ASTELLAS 00998 ALCON LABORATORIES, INC. 00469 ASTELLAS PHARMA US, INC. 25682 ALEXION PHARMACEUTICALS 00186 ASTRAZENECA LP 68611 ALIMERA SCIENCES, INC. -
Current Sustaining Member Companies
CURRENT SUSTAINING MEMBER COMPANIES MEMBER FOR OVER: 10 Years 25 Years 50 Years Member Since (alphabetical order) 1976 3M Medical Solutions Division 2020 D2 Pharma Consulting, LLC 1989 J & J Health Care Systems, Inc. 2011 Remund Group, LLC 1985 Abbott Laboratories, Inc. 2007 Daiichi Sankyo, Inc. 2014 Jazz Pharmaceuticals Inc. 2018 Rigel Pharmaceuticals 2013 AbbVie Inc. 2020 Deciphera Pharmaceuticals, LLC 2007 Karl Storz Endoscopy America 2000 Sanofi 2021 Adaptive Biotechnologies 2009 Deloitte 2021 Lantheus Holdings 2020 Seattle Genetics 2017 ACADIA Pharmaceuticals, Inc. 2020 Dexcom, Inc. 2020 Lipogems 2004 Siemens Medical Solutions 2020 AcelRx Pharmaceuticals, Inc. 2020 Drip Drop Hydration 2010 LLC Federal Solutions 2019 SK Life Science, Inc. 2020 Acorda Therapeutics 2017 Eagle Pharmaceuticals, Inc. 2014 Lovell Government Services LLC 2002 Smith & Nephew, Inc. 2019 Aimmune 2005 Eisai, Inc. 2021 Mainstay Medical 2019 Sobi Inc. 2003 Alcon Laboratories, Inc. 2019 electroCore, Inc. 2014 Mallinckrodt Pharmaceuticals 2013 Stryker Orthopaedics 2019 Alexion Pharmaceuticals, Inc. 2010 Endo Pharmaceuticals 2020 MannKind Corporation 2018 Sun Pharmaceutical 2017 Alkermes, Inc. 2017 Exelixis 1999 Marketing Assessment, Inc. 1999 Sunovion Pharmaceuticals, Inc. 2019 Alnylam Pharmaceuticals 2016 Express Scripts Federal Pharmacy 2009 Masimo Corporation 2016 Taiho Oncology, Inc. 2019 Altarum Institute 2010 Federal Practitioner 2019 Medical Strategies International, LLC 2015 Takeda Oncology 2020 Amarin Corporation 2021 Ferring Pharmaceuticals Inc. 2016 Melling Medical 2000 Takeda Pharmaceutical USA, Inc. 1994 AmerisourceBergen 2018 Foundation Medicine, Inc. 1954 Merck & Co., Inc. 2020 Telemynd 1992 Amgen 2021 Frontier Technology Inc. (FTI) 2002 MerzNorth America 2020 TerSera Therapeutics 2020 Amneal Pharmaceutical 2020 Fresenius Medical Care North America 2018 Mitsubishi Tanabe Pharma America 1990 Teva 2019 Aptive Resources LLC 1989 Genentech Inc. -
Downloads That May Be Necessary
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 December 20, 2018 Date of Report (Date of earliest event reported) JAZZ PHARMACEUTICALS PUBLIC LIMITED COMPANY (Exact name of registrant as specified in its charter) Ireland 001-33500 98-1032470 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File No.) Identification No.) Fifth Floor, Waterloo Exchange, Waterloo Road, Dublin 4, Ireland (Address of principal executive offices, including zip code) 011-353-1-634-7800 (Registrant’s telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.