Nyxoah Reports Fourth Quarter and Financial Year 2023 Financial and Operating Results

Nyxoah Reports Fourth Quarter and Financial Year 2023 Financial and Operating Results
Expect to report DREAM U.S. pivotal study efficacy and safety data by early April
Achieved record quarterly sales of €1.8 million

Mont–Saint–Guibert, Belgium – March 5, 2024 10:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today reported financial and operating results for the fourth quarter and financial year 2023.

Recent Financial and Operating Highlights

  • Filed the third out of four modules in the U.S. modular PMA submission.
  • Achieved quarterly sales of €1.8 million, representing sequential quarterly growth of 87% and increasing 42% year–over–year.
  • Achieved 2023 full year sales of €4.3 million, representing 41% year–over–year growth.
  • Ended the year with 48 active German accounts, up from 38 entering 2023.
  • Total cash position of €57.7 million at the end of 2023.

2024 Strategic Priorities

  • Complete patient follow up in the DREAM U.S. pivotal study and report efficacy and safety data by early April.
  • File the fourth and final module in the modular PMA submission.
  • Accelerate investments in the U.S. commercial organization in preparation for a late 2024 launch.
  • Complete enrollment in the ACCCESS complete concentric collapse (CCC) U.S. pivotal study.
  • Increase hypoglossal nerve stimulation (HGNS) market penetration and Genio market share in Europe.

“In 2023, we completed enrollment in our DREAM U.S. pivotal study, presented positive early DREAM efficacy and safety data, initiated enrollment in our ACCCESS U.S. pivotal study for complete concentric collapse and raised capital from both existing and new investors. These accomplishments strengthen our confidence for a transformational 2024.” commented Olivier Taelman, Nyxoah Chief Executive Officer. “We are excited to report DREAM data in the coming weeks, finalize the regulatory FDA submission and pave the way for bringing Genio® to patients in the U.S.”

Mr. Taelman continued, “Commercially in Europe, this quarter’s performance was the strongest in Nyxoah’s history driven by a targeted direct–to–consumer (DTC) effort and I applaud our European commercial team for their execution. I look forward to a further increase in therapy penetration from our partnership with ResMed in Germany.”

Fourth Quarter and Full Year 2023 Results

UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION – CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS FOR THE THREE MONTHS AND YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022 (in thousands)

  For the three months ended December 31,    For the year ended December 31, 
  2023    2022    2023   2022
Revenue  €1,824   €1,307   €4,348   €3,084
Cost of goods sold  (726)   (465)   (1,656)   (1,150)
Gross profit  €1,098   €842   €2,692   €1,934
Research and Development Expense  (7,321)   (4,575)   (26,651)   (15,861)
Selling, General and Administrative Expense  (4,893)   (5,363)   (21,687)   (18,855)
Other income/(expense)  279   46   544   283
Operating loss for the period  €(10,837)   €(9,050)   €(45,102)   €(32,499)
Financial income  582   (4,609)   4,174   6,763
Financial expense  (964)   1,153   (3,729)   (4,320)
Loss for the period before taxes  €(11,219)   €(12,506)   €(44,657)   €(30,056)
Income taxes  326   (790)   1,445   (1,169)
Loss for the period  €(10,893)   €(13,296)   €(43,212)   €(31,225)
               
Loss attributable to equity holders  €(10,893)   €(13,296)   €(43,212)   €(31,225)
               
Other comprehensive income/(loss)               
Items that may not be subsequently reclassified to profit or loss (net of tax)               
Remeasurements of post–employment benefit obligations, net of tax  81   70   81   70
Items that may be subsequently reclassified to profit or loss (net of tax)               
Currency translation differences  (32)   (82)   (120)   (96)
Total other comprehensive income/(loss)  €(39)   €(12)   €(39)   €(26)
Total comprehensive loss for the year, net of tax  €(10,844)   €(13,308)   € (43,251)   € (31,251)
Loss attributable to equity holders  €(10,844)   €(13,308)   € (43,251)   € (31,251)
               
Basic loss per share (in EUR)  €(379)   €(514)   €(1,545)   €(1,209)
Diluted loss per share (in EUR)  €(379)   €(514)   €(1,545)   €(1,209)

 UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION – CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF DECEMBER 31, 2023 AND DECEMBER 31, 2022 (in thousands)

  As at December 31
  2023   2022
ASSETS      
Non–current assets      
Property, plant and equipment €4,188   €2,460
Intangible assets 46,608   39,972
Right of use assets 3,788   3,159
Deferred tax asset 56   47
Other long–term receivables 1,166   173
  €55,806   €45,811
Current assets      
Inventory 3,315   882
Trade receivables 2,758   1,463
Other receivables 3,212   1,775
Other current assets 1,318   1,284
Financial assets 36,138   76,968
Cash and cash equivalents 21,610   17,888
  €68,351   €100,260
Total assets €124,157   €146,071
       
EQUITY AND LIABILITIES      
Capital and reserves      
Capital 4,926   4,440
Share premium 246,127   228,275
Share based payment reserve 7,661   5,645
Other comprehensive income 137   176
Retained loss (160,829)   (118,212)
Total equity attributable to shareholders €98,022   €120,324
       
LIABILITIES      
Non–current liabilities      
Financial debt 8,373   8,189
Lease liability 3,116   2,586
Pension liability 9  
Provisions 185   59
Deferred tax liability 9  
  €11,692   €10,834
Current liabilities      
Financial debt 364   388
Lease liability 851   719
Trade payables 6,155   4,985
Current tax liability 1,988   3,654
Other payables 5,085   5,167
  €14,443   €14,913
Total liabilities €26,135   €25,747
Total equity and liabilities €124,157   €146,071

Revenue

Revenue was €1.8 million for the fourth quarter ending December 31, 2023, compared to €1.3 million for the fourth quarter ending December 31, 2022. Revenue for the full year of 2023 was €4.3 million, compared to €3.1 million for the full year of 2022. The increase in revenue was attributable to the Company’s commercialization of the Genio® system, primarily in Germany.

Cost of Goods Sold

Cost of goods sold was €726,000 for the three months ending December 31, 2023, representing a gross profit of €1.1 million, or gross margin of 60%. This compares to total cost of goods sold of €465,000 in the fourth quarter of 2022, for a gross profit of €842,000, or gross margin of 64.4%.

For the full year ending December 31, 2023, total cost of goods sold was €1.7 million, representing a gross profit of €2.7 million, or gross margin of 62%. This compares to total cost of goods sold of €1.2 million for the full year of 2022, for a gross profit of €1.9 million, or gross margin of 62.7%.

Research and Development

For the full year ending December 31, 2023, research and development expenses were €26.7 million, versus €15.9 million for the full year of 2022.

Operating Loss

Total operating loss for the fourth quarter and full year 2023 was €10.8 million and €45.1 million, respectively, versus €9.1 million and €32.5 million in the fourth quarter and full year 2022, respectively. This was driven by the acceleration in the Company’s R&D spending, as well as ongoing commercial and clinical activities.

Cash Position
As of December 31, 2023, cash and financial assets totaled €57.7 million, compared to €94.9 million on December 31, 2022. Total cash burn was approximately €4.6 million per month during 2023.

Full year report 2023
Our independent auditor has not yet completed the audit of the financial statements for the year ended December 31, 2023. When published, the Nyxoah financial report for the full year of 2023 will be available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

Conference call and webcast presentation
A webcast of the call will be accessible via the Investor Relations page of the Nyxoah website or through this link: Nyxoah's Q4 2023 earnings call webcast. For those not planning to ask a question of management, the Company recommends listening via the webcast.

If you plan to ask a question, please use the following link: Nyxoah’s Q4 2023 earnings call. After registering, an email will be sent, including dial–in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, the Company suggests registering a minimum of 10 minutes before the start of the call.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient–centered, leadless and battery–free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and US commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward–looking statements
Certain statements, beliefs and opinions in this press release are forward–looking, which reflect the Company's or, as appropriate, the Company directors' or managements' current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; and the Company's results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward–looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward–looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20–F for the year ended December 31, 2022, filed with the Securities and Exchange Commission (“SEC”) on March 22, 2023, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward–looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward–looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward–looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward–looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward–looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward–looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward–looking statements, which speak only as of the date of this press release.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

 

Attachment


GLOBENEWSWIRE (Distribution ID 1000927494)

Nyxoah Publie ses Résultats Financiers et Opérationnels pour le Quatrième Trimestre et l'Exercice 2023

Nyxoah Publie ses Résultats Financiers et Opérationnels pour le Quatrième Trimestre et l'Exercice 2023
Les données d'efficacité et de sécurité de l'étude pivot DREAM U.S. devraient être communiquées début avril
Chiffre d'affaires trimestriel record de 1,8 million d'euros

Mont–Saint–Guibert, Belgique – 5 mars, 2024, 22h05 CET / 16h05 ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (« Nyxoah » ou la « Société ») opère dans le secteur des technologies médicales et se concentre sur le développement et la commercialisation de solutions innovantes destinées à traiter le Syndrome d’Apnées Obstructives du Sommeil (SAOS). Elle a publié aujourd’hui ses résultats financiers et opérationnels pour le quatrième trimestre et l'exercice 2023.

Temps Forts Financiers et d’Exploitation

  • Soumission du troisième des quatre modules de la demande d'autorisation modulaire de mise sur le marché (PMA) aux États–Unis.
  • Ventes trimestrielles de 1,8 million d'euros, soit une croissance trimestrielle séquentielle de 87 % et une augmentation de 42 % d'une année sur l'autre.
  • Les ventes pour l'année 2023 ont atteint 4,3 millions d'euros, soit une croissance de 41 % d'une année sur l'autre.
  • Fin de l'année avec 48 centres allemands actifs, contre 38 à fin 2023.
  • Trésorerie totale de 57,7 millions d'euros à la fin de l'année 2023.

Priorités stratégiques pour 2024

  • Terminer le suivi des patients dans l'étude pivot DREAM U.S. et communiquer les données d'efficacité et d'innocuité d'ici le début du mois d'avril.
  • Soumettre le quatrième et dernier module de la demande d'autorisation modulaire de mise sur le marché.
  • Accélérer les investissements dans l'organisation commerciale américaine en vue d'un lancement fin 2024.
  • Terminer le recrutement de l'étude pivot américaine ACCCESS sur le collapse concentrique complet (CCC).
  • Augmenter la pénétration du marché de la stimulation du nerf hypoglosse (HGNS) et la part de marché de Genio en Europe.

” En 2023, nous avons achevé le recrutement de notre étude pivot DREAM aux États–Unis, présenté les premières données positives sur l'efficacité et la sécurité de DREAM, lancé le recrutement de notre étude pivot ACCCESS aux États–Unis pour le collapse concentrique complet et levé des capitaux auprès d'investisseurs existants et de nouveaux investisseurs. Ces réalisations renforcent notre confiance pour une année 2024 transformatrice”, a commenté Olivier Taelman, CEO de Nyxoah. “Nous sommes ravis de présenter les données de DREAM dans les semaines à venir, de finaliser la soumission réglementaire auprès de la FDA et d'ouvrir la voie à l'introduction de Genio® auprès des patients aux États–Unis.” M. Taelman a poursuivi : ” Sur le plan commercial en Europe, la performance de ce trimestre a été la plus forte de l'histoire de Nyxoah grâce à un effort ciblé « direct–to–consumer » (DTC) et je félicite notre équipe commerciale européenne pour son exécution. Je suis impatient à l’idée que notre partenariat avec ResMed en Allemagne permettra d'accroître encore la pénétration des thérapies.

Résultats du Quatrième Trimestre et de l'Année 2023

INFORMATIONS FINANCIÈRES CONSOLIDÉES NON AUDITÉES – COMPTE DE RESULTATS CONSOLIDÉS POUR LE QUATRIEME TRIMESTRE ET LES EXERCICES CLOS AU 31 DÉCEMBRE 2023 ET 31 DÉCEMBRE 2022 (en milliers)

  Pour la période de trois mois terminée le 31 décembre   Pour l’année terminée le 31 décembre
  2023    2022    2023   2022
Chiffre d'affaires €1,824   €1,307   €4,348   €3,084
Coût des biens vendus (726)   (465)   (1,656)   (1,150)
Bénéfice brut €1,098   €842   €2,692   €1,934
Frais de recherche et de développement (7,321)   (4,575)   (26,651)   (15,861)
Frais de vente, dépenses administratives et autres frais généraux (4,893)   (5,363)   (21,687)   (18,855)
Autres revenus / (frais) d'exploitation 279   46   544   283
Perte d'exploitation de la période €(10,837)   €(9,050)   €(45,102)   €(32,499)
Produits financiers 582   (4,609)   4,174   6,763
Charges financières (964)   1,153   (3,729)   (4,320)
Perte de la période avant impôts €(11,219)   €(12,506)   €(44,657)   €(30,056)
Impôts sur le revenu 326   (790)   1,445   (1,169)
Perte de la période €(10,893)   €(13,296)   €(43,212)   €(31,225)
               
Perte attribuable aux actionnaires €(10,893)   €(13,296)   €(43,212)   €(31,225)
               
Autres éléments du résultat global              
Éléments qui ne peuvent pas être reclassés ultérieurement en profit ou perte (nets d'impôts)              
Réévaluation des obligations au titre des avantages postérieurs à l’emploi, déduction faite de l’impôt 81   70   81   70
Éléments susceptibles d’être reclassés ultérieurement en résultat net d’impôt              
Différences de conversion des devises (32)   (82)   (120)   (96)
Total des autres éléments du résultat global €(39)   €(12)   €(39)   €(26)
Total du résultat global de l’exercice, déduction faite de l’impôt €(10,844)   €(13,308)   € (43,251)   € (31,251)
Perte attribuable aux actionnaires €(10,844)   €(13,308)   € (43,251)   € (31,251)
               
Perte par action (en €) €(379)   €(514)   €(1,545)   €(1,209)
Perte diluée par action (en €) €(379)   €(514)   €(1,545)   €(1,209)

 

INFORMATIONS FINANCIÈRES CONSOLIDÉES NON AUDITÉES – ÉTAT CONSOLIDÉ DE LA SITUATION FINANCIÈRE AU 31 DÉCEMBRE 2023 ET AU 31 DÉCEMBRE 2022 (en milliers)

 

  Au 31 décembre
  2023   2022
ACTIFS      
Actifs non courants      
Immobilisations corporelles €4,188   €2,460
Immobilisations incorporelles 46,608   39,972
Droit d'utilisation d'actifs 3,788   3,159
Actif d'impôts différés 56   47
Autres créances à long terme 1,166   173
  €55,806   €45,811
Actifs courants      
Stocks 3,315   882
Créances commerciales 2,758   1,463
Autres créances 3,212   1,775
Autres actifs courants 1,318   1,284
Actifs financiers 36,138   76,968
Trésorerie et équivalents de trésorerie 21,610   17,888
  €68,351   €100,260
Total de l'actif €124,157   €146,071
       
CAPITAUX PROPRES ET PASSIFS      
Capital et réserves      
Capital 4,926   4,440
Prime d'émission 246,127   228,275
Réserve pour paiement fondés sur des actions 7,661   5,645
Autres éléments du résultat global 137   176
Résultats reportés (160,829)   (118,212)
Total des capitaux propres attribuables aux actionnaires €98,022   €120,324
       
PASSIFS      
Passifs non courants      
Dettes financières 8,373   8,189
Passifs locatifs 3,116   2,586
Passifs au titre des retraites 9  
Provisions 185   59
Passif d'impôts différés 9  
  €11,692   €10,834
Passifs courants      
Dettes financières 364   388
Passifs locatifs 851   719
Dettes commerciales 6,155   4,985
Passif d'impôts exigibles 1,988   3,654
Autres dettes 5,085   5,167
  €14,443   €14,913
Total du passif €26,135   €25,747
Total des capitaux propres et du passif €124,157   €146,071

Revenus
Le chiffre d'affaires s'est élevé à 1,8 million d'euros lors du quatrième trimestre 2023 comparé à 1,3 million d'euros pour le quatrième trimestre 2022. Le chiffre d'affaires pour l'ensemble de l'année 2023 s'est élevé à 4,3 millions d'euros, contre 3,1 millions d'euros pour l'année 2022. L'augmentation du chiffre d'affaires est attribuable à la commercialisation par la Société du système Genio®, principalement en Allemagne.

Coût des Marchandises Vendues
Le coût des marchandises vendues s'est élevé à 726 000 € pour le quatrième trimestre 2023, soit un bénéfice brut de 1,1 million d'euros, ou une marge brute de 60 %. À titre de comparaison, le coût total des marchandises vendues était de 465 000 € au quatrième trimestre 2022, pour un bénéfice brut de 842 000 €, soit une marge brute de 64,4 %.

Pour l'ensemble de l'exercice clos au 31 décembre 2023, le coût total des marchandises vendues s'est élevé à 1,7 million d'euros, soit un bénéfice brut de 2,7 millions d'euros, ou une marge brute de 62 %. À titre de comparaison, le coût total des marchandises vendues s'élevait à 1,2 million d'euros pour l'exercice complet de 2022, soit un bénéfice brut de 1,9 million d'euros, ou une marge brute de 62,7 %.

Frais de Recherche et de Développement
Pour l'exercice clos le 31 décembre 2023, les dépenses de recherche et développement se sont élevées à 26,7 millions d'euros, contre 15,9 millions d'euros pour l'exercice 2022.

Perte d'Exploitation
La perte d'exploitation totale pour le quatrième trimestre et l'année 2023 s'est élevée à 10,8 millions d'euros et 45,1 millions d'euros, respectivement, contre 9,1 millions d'euros et 32,5 millions d'euros pour le quatrième trimestre et l'année 2022, respectivement. Cette évolution s'explique par l'accélération des dépenses de R&D de la Société, ainsi que par les activités commerciales et cliniques en cours.

Position de Trésorerie
Au 31 décembre 2023, la trésorerie et les actifs financiers s'élevaient à 57,7 millions d'euros, contre 94,9 millions d'euros au 31 décembre 2022. La consommation totale de trésorerie a été d'environ 4,6 millions d'euros par mois en 2023.

Rapport annuel 2023
Notre auditeur indépendant n'a pas encore terminé l'audit des états financiers pour l'exercice clos le 31 décembre 2023. Une fois publié, le rapport financier de Nyxoah pour l'ensemble de l'année 2023 sera disponible sur la page des investisseurs du site web de Nyxoah (https://investors.nyxoah.com/financials).

Conférence téléphonique et présentation par webcast
La webdiffusion de l'appel sera accessible via la page Relations avec les investisseurs du site web de Nyxoah ou via ce lien : Nyxoah's Q4 2023 earnings call webcast. Pour ceux qui ne prévoient pas de poser une question à la direction, la société recommande d'écouter via la webdiffusion.

Si vous avez l'intention de poser une question, veuillez utiliser le lien suivant : Nyxoah's Q4 2023 earnings call. Après l'inscription, un courriel sera envoyé, comprenant les détails de la composition et un code d'accès unique à la conférence téléphonique nécessaire pour rejoindre l'appel en direct. Pour s'assurer que vous êtes connecté avant le début de l'appel, la société suggère de s'inscrire au moins 10 minutes avant le début de l'appel.

À propos de Nyxoah
Nyxoah opère dans le secteur des technologies médicales. Elle se concentre sur le développement et la commercialisation de solutions innovantes destinées à traiter le Syndrome d’Apnées Obstructives du Sommeil (SAOS). La principale solution de Nyxoah est le système Genio®, une thérapie de neurostimulation du nerf hypoglosse sans sonde et sans batterie qui a reçu le marquage CE, centrée sur le patient et destinée à traiter le Syndrome d’Apnées Obstructives du Sommeil (SAOS), le trouble respiratoire du sommeil le plus courant au monde. Ce dernier est associé à un risque accru de mortalité et des comorbidités, dont les maladies cardiovasculaires. La visions de Nyxoah est que les patients souffrant de SAOS doivent pouvoir profiter de nuits réparatrices et vivre pleinement leur vie.

À la suite de la finalisation probante de l’étude BLAST OSA, le système Genio® a reçu le marquage européen CE en 2019. Nyxoah a réalisé avec succès deux IPO : l’une sur Euronext Bruxelles en septembre 2020 et l’autre sur le NASDAQ en juillet 2021. Grâce aux résultats positifs de l'étude BETTER SLEEP, Nyxoah a reçu le marquage CE pour l’extension de ses indications thérapeutiques aux patients souffrant de collapsus concentrique complet (CCC), pour lesquels les thérapies concurrentes sont actuellement contre–indiquées. En outre, la Société mène actuellement l’étude pivot IDE DREAM pour la FDA obtenir l’autorisation de mise sur le marché.

Pour de plus amples informations, veuillez consulter le site http://www.nyxoah.com/.

Attention – marquage CE depuis 2019. Dispositif de recherche aux États–Unis. Limité à un usage expérimental aux États–Unis par la loi fédérale américaine.

Déclarations prospectives
Certaines déclarations, croyances et opinions contenues dans le présent communiqué de presse sont de nature prospective et reflètent les attentes actuelles de la société ou, le cas échéant, des administrateurs ou de la direction de la société concernant le système Genio®, les études cliniques prévues et en cours sur le système Genio®, les avantages potentiels du système Genio® ; les objectifs de Nyxoah en ce qui concerne le développement, la voie réglementaire et l'utilisation potentielle du système Genio® ; l'utilité des données cliniques pour l'obtention éventuelle de l'approbation du système Genio® par la FDA ; et les résultats d'exploitation, la situation financière, les liquidités, les performances, les perspectives, la croissance et les stratégies de la société. De par leur nature, les déclarations prévisionnelles impliquent un certain nombre de risques, d'incertitudes, d'hypothèses et d'autres facteurs qui pourraient faire en sorte que les résultats ou événements réels diffèrent matériellement de ceux exprimés ou sous–entendus dans les déclarations prévisionnelles. Ces risques, incertitudes, hypothèses et facteurs pourraient avoir une incidence négative sur les résultats et les effets financiers des plans et des événements décrits dans le présent document. En outre, ces risques et incertitudes comprennent, sans s'y limiter, les risques et incertitudes énoncés dans la section “Facteurs de risque” du rapport annuel de la société sur le formulaire 20–F pour l'exercice clos le 31 décembre 2022, déposé auprès de la Securities and Exchange Commission (“SEC”) le 22 mars 2023, et des rapports ultérieurs que la société dépose auprès de la SEC. Une multitude de facteurs, y compris, mais sans s'y limiter, les changements dans la demande, la concurrence et la technologie, peuvent faire en sorte que les événements, les performances ou les résultats réels diffèrent de manière significative de tout développement anticipé. Les déclarations prospectives contenues dans le présent communiqué de presse concernant des tendances ou des activités passées ne constituent pas des garanties de performances futures et ne doivent pas être considérées comme une déclaration selon laquelle ces tendances ou activités se poursuivront à l'avenir. En outre, même si les résultats ou développements réels sont conformes aux déclarations prospectives contenues dans le présent communiqué de presse, ces résultats ou développements peuvent ne pas être représentatifs des résultats ou développements des périodes futures. Aucune déclaration ou garantie n'est donnée quant à l'exactitude ou à la justesse de ces déclarations prévisionnelles. En conséquence, la Société décline expressément toute obligation ou tout engagement de publier des mises à jour ou des révisions des déclarations prospectives contenues dans le présent communiqué de presse à la suite d'un changement des attentes ou d'un changement des événements, conditions, hypothèses ou circonstances sur lesquels ces déclarations prospectives sont basées, sauf si la loi ou la réglementation l'exige expressément. Ni la Société, ni ses conseillers ou représentants, ni aucune de ses filiales, ni les dirigeants ou employés de ces personnes ne garantissent que les hypothèses sous–jacentes à ces déclarations prospectives sont exemptes d'erreurs et n'acceptent aucune responsabilité quant à l'exactitude future des déclarations prospectives contenues dans ce communiqué de presse ou quant à la survenance effective des développements prévus. Vous ne devriez pas accorder une confiance excessive aux déclarations prospectives, qui ne sont valables qu'à la date du présent communiqué de presse.

Contacts :
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

 

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GLOBENEWSWIRE (Distribution ID 1000927494)

A Regional Commitment Is Underway For Food Security and a Sustainable Future

Official photograph captured during the proceedings of the 8th Summit of the Community of Latin American and Caribbean States (CELAC) convened in Saint Vincent and the Grenadines. Credit: CELAC

Official photograph captured during the proceedings of the 8th Summit of the Community of Latin American and Caribbean States (CELAC) convened in Saint Vincent and the Grenadines. Credit: CELAC

By Mario Lubetkin
SANTIAGO, Mar 5 2024 – The regional commitment to fight hunger and malnutrition in Latin America and the Caribbean has made significant progress thanks to the update of the Food Security, Nutrition and Hunger Eradication Plan of the Community of Latin American and Caribbean States (CELAC) for the period 2024-2030, known as the CELAC FNS Plan.

This update was approved and ratified during the VIII Summit of Heads of State and Government of CELAC, held on March 1 in Saint Vincent and the Grenadines.

This commitment evidence Latin America and the Caribbean’s significant contribution to accelerating the fulfillment of the Sustainable Development Goals, aimed at achieving societies free of hunger, poverty, and inequality in the region.

Our latest estimates show that, in 2022, 6.5 percent of the population of Latin America and the Caribbean suffered from hunger; this represented 2.4 million fewer people than in 2021. But the situation remains critical; hunger continues to affect 43.2 million people in the region

Our latest estimates show that, in 2022, 6.5 percent of the population of Latin America and the Caribbean suffered from hunger; this represented 2.4 million fewer people than in 2021. But the situation remains critical; hunger continues to affect 43.2 million people in the region.

Likewise, limited access to resources and services, poverty, the aftermath of the pandemic, and conflicts as well as climate-related disasters, among other factors, are affecting the ecosystems on which food production and the livelihoods of farming communities depend and threaten efforts to ensure food security, nutrition and the sustainability of agrifood systems.

In this scenario, the CELAC FNS Plan 2024-2030 is a concrete initiative, reflected in a unanimous response from more than thirty countries, which, at a ministerial level, agreed to update this document to address the challenge of hunger and food insecurity in the region.

The new plan -developed in coordination with the Pro-Tempore Presidency, currently led by Saint Vincent and the Grenadines and the thirty-three CELAC countries, included broad participation and analysis with technical assistance from FAO, ECLAC, IICA, and ALADI- has become a benchmark for other regions of the world. Its implementation represents a milestone example of the consensus and political commitment of Latin America and the Caribbean.

This plan, structured into four pillars, includes a conceptual basis to guide the countries concerning legal frameworks, sustainable production, access to healthy diets, and agrifood systems resilient to climate change.

2024 could represent a decisive year for Latin America and the Caribbean to make progress in combating hunger and malnutrition and achieving more resilient and sustainable production systems. During 2023, we have consolidated a deep process of alliances, consensus, and dialogue that will soon be part of the FAO Regional Conference.

We are in the final stretch of preparation for our Regional Conference to be held in March in Georgetown, Guyana, where we will facilitate exchanges and discussions that will be essential to guide FAO’s technical cooperation in the design and implementation of plans and projects tailored to the needs of the countries, and in line with the priorities defined by governments at the highest political level.

In this regard, the reflections and resolutions arising from the updating and subsequent approval of the new CELAC FNS Plan also represent a significant contribution to the FAO Regional Conference.

The preparation of the Regional Conference includes an extensive consultation process involving different stakeholders, such as the private sector, academia, civil society, and parliamentary groups; and of course, the participation of government officials from the thirty-three FAO Member Countries; as well as the presence of Heads of State and Ministers of Agriculture and other sectors committed to the search for more efficient, inclusive, resilient and sustainable agrifood systems.

We hope that the results of the Conference, translated into FAO’s mandate, will be consolidated as a tangible response. The success of these efforts will depend on the collaboration of all to make the hope of a world without hunger a reality.

Excerpt:

Mario Lubetkin is FAO Assistant Director-General and FAO Regional Representative for Latin America and the Caribbean for Latin America and the Caribbean

CallTower Breaks New Ground: Operator Connect for Microsoft Teams Telephony Solution Now Unleashed Across EMEA

SALT LAKE CITY, UT, ROCHESTER, NY, BOSTON, MA, March 05, 2024 (GLOBE NEWSWIRE) — CallTower, a global pioneer in providing advanced cloud–based solutions for unified communications, contact centers, and collaboration, proudly announces the expansion of its Operator Connect for Microsoft Teams service to the EMEA region. Since becoming one of the select providers for Operator Connect in September 2021, CallTower has continued to extend its reach. Today marks a significant milestone as they broaden their services to include Austria, Belgium, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, and Switzerland. This expansion builds on their established presence in the US, Canada, and the UK, further solidifying CallTower's commitment to enhancing global communications

CallTower is at the forefront of revolutionizing communication solutions for businesses across the EMEA region in local currencies (including the euro, the UK pound sterling and others) through the enablement of Operator Connect for Microsoft Teams. This innovative service transforms the way organizations connect by delivering PSTN voice access directly within Teams, significantly enhancing the customer experience. Operator Connect not only simplifies the integration between networks but also streamlines the provisioning and management of users. This leads to improved support models that elevate the overall quality of service. Since 2018, CallTower has been providing Microsoft Teams Voice to users in EMEA and over 70 countries globally.  

CallTower’s Operator Connect for MS Teams allows for the extension of PSTN voice services to regions that are not covered by Microsoft Calling Plans. This capability is crucial for businesses aiming to maintain a global presence, providing them with a competitive edge in today's fast–paced market. By leveraging CallTower’s expertise and support, companies can ensure a robust and reliable communication framework, essential for thriving in the digital era. This functionality enables them to effortlessly connect calling services, acquire phone numbers, and assign these components to users, ensuring a smooth operational flow. CallTower stands out by offering technical support and managing the voice network and infrastructure, relieving businesses from the complexities of these tasks. 

CallTower enhances Operator Connect for Microsoft Teams, effectively addressing essential communication needs through a comprehensive suite of business integrations. This includes advanced SMS/MMS texting features, stringent compliance recording, crucial emergency services where available, and reliable one–click failover capabilities. Moreover, CallTower provides a range of innovative contact center solutions among other services, enabling businesses to significantly improve their communication frameworks.  

“CallTower is thrilled to deliver on our promise of catering to customers in EMEA,” announced CallTower's Chief Revenue Officer, William Rubio. “The launch of Operator Connect for Microsoft Teams marks the pinnacle of this commitment. It revolutionizes how our customers connect, offering a seamless transition and effortless implementation, all while broadening our coverage. By voice–enabling Teams through CallTower’s Global Network, we're not just supporting our European clients; we're empowering them. We provide a variety of options tailored to meet the diverse needs of their workforce, ensuring every user has exactly what they need to excel.” 

CallTower has strategically positioned itself as a leader in communication solutions by developing CallTower Connect, an innovative provisioning tool designed to streamline and simplify the management of its services. This proprietary portal is a testament to CallTower's commitment to empowering businesses with the ability to effortlessly customize and control their communication platforms. 

Through CallTower Connect, users gain access to a user–friendly interface that enables quick and efficient provisioning of a wide array of CallTower services. This includes seamless provisioning of CallTower’s Microsoft solutions, including Operator Connect, Direct Routing, GCC High Direct Routing, and Microsoft 365, among other vital communication tools. The simplicity and efficiency of CallTower Connect means that businesses can rapidly adapt their communication strategies to meet evolving needs without the need for extensive technical knowledge or support. 

About CallTower 

Since its inception in 2002, CallTower has evolved into a global cloud–based, enterprise–class cloud communications (unified communications, contact center and collaboration) solutions provider for growing organizations worldwide. CallTower provides, integrates and supports industry–leading solutions, including Operator Connect for Microsoft® Teams, MS Teams Direct Routing, GCC High Teams Direct Routing, Microsoft® 365, Cisco® Webex Calling / UCM, Cisco® CCP, Zoom Phone, Zoom (BYOB) and four contact center options, including Five9 for business customers. 

For more information contact marketing@calltower.com 


GLOBENEWSWIRE (Distribution ID 9056536)

International Women’s Day, 2024Investing in Women is More than just Good Economics, it’s Crucial to a Sustainable Society

Credit: ESCAP/Cindy Liu

By Cai Cai, Jonathan Wong, Channe Lindstrøm Oguzhan, Elena Mayer-Besting, Christina Morrison and Darshni Nagaria
BANGKOK, Thailand, Mar 5 2024 – Ponny Lim runs a thriving aquaculture enterprise in Cambodia, growing her business with the support of a United Nations programme that guarantees loans to women entrepreneurs who are beyond microfinance but not yet ready for corporate finance.

Working in a largely male dominated sector, Ponny has used this additional capital to take her products to other markets, and is also now supporting other women in her community to tackle gender bias and run their own businesses.

Ponny’s example reminds us on this International Women’s Day that investing in women is not only a moral imperative to achieving a more just and equal world, but an economic necessity, crucial to fostering sustainable, inclusive and prosperous economies.

In Asia and the Pacific, an estimated $4.5 trillion would be added to the region’s GDP by tackling gender disparities in economic opportunities. Yet, globally, it is estimated that more than 1 billion women either do not use or lack access to the financial system.

This has far-reaching consequences for the well-being of women, not only impeding their ability to pay for household expenses and recover from economic shocks, but also constraining opportunities for women seeking to start and grow their own businesses.

While the role of women’s entrepreneurship in driving economic growth, job creation and innovation is well established, a $300 billion annual gap in financing has been identified for formal women-owned small and medium businesses. An estimated 70 per cent of women-owned MSMEs are either financially underserved or unserved.

Research by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) on a wide range of indicators related to women’s financial inclusion, asset control and ownership, financial resilience and entrepreneurship reveals a host of challenges faced by women and a resultant gender gap.

Where data is available, the upcoming report “Financial Resilience, Inclusion and Entrepreneurship: Is Asia and the Pacific close to Gender Parity?” shows that in most countries in the region, women have lower levels of bank account ownership, access to credit and access to pensions. Women also experience higher levels of stress related to their financial situation and women-owned MSMEs lack adequate access to financial services.

These gaps result from and contribute to entrenched discriminatory norms and practices that continue to hamper the use of financial services among women. Common obstacles include limited household decision-making power, time poverty and career interruption due to a higher burden of care responsibilities, lower incomes and lower participation in formal employment among women, digital exclusion, transportation barriers, a lack of demand driven financial products and discriminatory lending practices.

Notably, the broader structural challenge of women’s limited asset ownership and control, which is often both the result of financial inclusion and economic success and a prerequisite for access to finance and economic opportunities, is a significant obstacle that must be overcome to achieve women’s meaningful financial inclusion and economic participation in the region.

The fact remains that women are more likely than men to be living in poor households in the Asia-Pacific region, with deep-rooted discriminatory social norms preventing women from realizing their full potential. Women perform more than four times as much unpaid care and domestic work, which is one of the primary reasons why the female labour force participation rate continues to decline, to 44 per cent today from 52 per cent in 1995, and still well below the world average of 47 per cent.

Barriers to women’s integration into the labour market and overrepresentation in less profitable sectors of the economy are closely linked to women’s financial exclusion, which both contributes to and is perpetuated by women’s concentration in the informal sector and precarious forms of employment, without the assurance of social protection.

Yet financial inclusion alone will not automatically reduce poverty or promote economic empowerment or financial resilience, nor will it eliminate structural inequalities faced by women. However, it is a vital tool which can contribute to enabling women to manage financial risks, attain financial independence, overcome traditional roles assigned to them, increase their incomes, accumulate assets, pursue entrepreneurial aspirations and grow their businesses.

Gender-intentional approaches and active collaboration between policymakers, businesses, financial service providers and civil society stakeholders is key to ensuring that financial inclusion leads to positive outcomes for all women, provide equal rights to asset ownership and inheritance, improve financial resilience and create a conducive environment for women’s entrepreneurship.

Our work at ESCAP includes the Catalyzing Women’s Entrepreneurship Programme, funded by Global Affairs Canada. The project has been building momentum for the movement to create an enabling ecosystem for women entrepreneurs across the region and close the gap in access to finance.

Since 2018, the programme has unlocked more than $89.7 million in capital for women-owned and led businesses, and directly supported more than 176,000 women entrepreneurs.

This type of activity highlights the fact that when women have equal access to economic opportunities, education, healthcare, work and representation in political and economic decision-making processes they can drive strong and inclusive economic growth.

And when we value the unpaid care and domestic work carried out by women and girls and invest in the care economy, we see how the multiplier effects uplift entire communities, improving the health, education and well-being of future generations.

The transformative effect of women’s empowerment is also evident in fostering more resilient and solidarity-based communities and societies. Women’s unique perspectives and leadership are essential in sustainably managing natural resources and crafting effective climate change solutions. Their engagement ensures that development initiatives are equitable and reach those most in need.

The path ahead is clear: In order to accelerate gender equality and women’s empowerment we must end poverty in all its forms. We must strengthen institutions. And we must be intentional at every juncture to provide sufficient financial resources to integrate a wholesome gender perspective throughout the implementation of our policies and programmes.

    Cai Cai is Chief of Gender Equality and Social Inclusion Section, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)
    Jonathan Wong is Chief of Innovation, Enterprise and Investment Section, ESCAP
    Channe Lindstrøm Oguzhan is Social Affairs Officer, ESCAP
    Elena Mayer-Besting is Programme Management Officer, ESCAP
    Christina Morrison is Consultant (Catalyzing Women’s Entrepreneurship Programme), ESCAP
    Darshni Nagaria is Consultant (Catalyzing Women’s Entrepreneurship Programme), ESCAP

IPS UN Bureau

 


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Excerpt:

The following opinion piece is part of series to mark International Women’s Day, March 8.

International Women’s Day, 2024International Women’s Day/International Life Day

By Azza Karam
NEW YORK, Mar 5 2024 – One of the most fascinating aspects of International Women’s Day is an odd subtext. That this is all about and (only) for women. Really? Since when are the realities of one part of humanity – the part that gives birth to the rest by the way – only relevant to that one part?

Would we ever think that if we had an international man’s day (which would be practically every day of the years of our lives) is all about and only for men? No, we would not.

What international women’s day is, is an opportunity to see the world through the eyes of those who have been systematically, systemically and deliberately, marginalized, silenced, scorned – and sometimes violently hated. But it is also an opportunity to celebrate the resilience, the determination, and the remarkable rebirth, survival, and yes, the relief, if not the joy, of thriving.

Look deep into the eyes of the girls and women of DRC, CAR, Ukraine, Russia, Ethiopia, Eretria, Palestine, Israel, Afghanistan, of the Indigenous peoples in North America, Asia, Africa, Australia, New Zealand – and countless other survivors of violence, in every corner of today’s world. Those are the eyes into the spirit of this earth.

International women’s day is but one of the 365 days of a year, to, perhaps, ponder the fact that our very earth is referred to, in many languages, in feminine terms.

Our earth is our very survival. Even, if and when, some of us succeed in living in Mars or on the moon, the majority of us will still need this earth to bear us, as it has borne our ancestors, and as it continues to, in spite of the deliberate destructions we levy against it, from each household, community, nation and region, in every corner of the world.

Our earth sustains nuclear tests which shred its very fibers from deep inside it. Even as it revolts in floods and roars back through erupting volcanoes, our earth still sustains the unending destructions of war, the piling up of human and other life forms, buried in it – and burned on it.

Our earth carries us and nurtures us on its oceans and seas and rivers, many of which we have choked with our human detritus which is killing the very same remarkable ecosystems that keep our waters clean, and help the air to heal.

Our earth tries to keep its own lungs functioning through the trees and oceans which are staying connected to one another, and to life itself, in ways many of us have no idea about. Every grain of sand, dew drop, branch, leaf, cloud – all feminine.

Come to think of it, our earth is being treated by humans, as so many girls and women are still being treated: taken advantage of, beaten, (ab)used, considered replaceable or profitable (or both), and when they excel, they are resented, including by some of their own kind.

We dare not speak of the woman-on-woman violence, right? That is not done, not even by the most stalwart of our feminist leaders. All the while this is happening though, poetry, prizes, even laws, are being enacted to ‘save’, commemorate, and ‘honour’ earth.

All faith traditions actually have a secret embedded within them: that that which is feminine, always rises again, to love, as it serves and gives birth, and to fight for the very possibility of life itself. As we commemorate this day, we would do well to remember that it is not about girls and women per se, it is about the power of the feminine that is earth itself.

None of us is born to be alone forever. We need one another. In fact, we are completely dependent on one another.

Our earth demands justice for life itself to be sustained. International women’s day is every human’s day, every life on this planet day, every living thing day, every star in the cosmos of creation day.

Can we honour that?

Azza Karam is a member of the UN SG’s High Level Advisory Board on Effective Multilateralism, and is the founding President & CEO of Lead Integrity, an International Management Consulting business, focused on creating a Roster, and making available, the expertise of women inspired by diverse faiths and serving in all professions, committed to leadership, integrity and competence.

IPS UN Bureau

 


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Excerpt:

The following opinion piece is part of series to mark International Women’s Day, March 8.

UN Whistle Blowers Fired for Challenging Risky Investment Policies of the Pension Fund

By Thalif Deen
UNITED NATIONS, Mar 5 2024 – The UN Ethics Office, established in 2006, has promoted an organizational culture in the world body, including integrity, professionalism, respect for diversity and protection for whistle-blowers.

But the UN Pension Fund, whose assets amount to a staggering $88.3 billion, is accused of firing four of its staffers, including senior investment officers, for challenging the wisdom of the Fund’s investment policies.

The firings have been criticized by two Staff Unions representing over 60,000 UN staffers worldwide.

In a letter to Secretary-General Antonio Guterres, the President of the Coordinating Committee of International Staff Unions and Associations, (CCISUA) Nathalie Meynet says the Unions are alarmed to learn about the recent dismissal of four senior investment officers, “with indications that more staff may be terminated.”

“As you know, during the tenure of the previous Representative of the Secretary-General (in the Pension Fund), a group of senior investment managers decided to blow the whistle on what the Office for Internal Oversight Services (OIOS) later found to be a “toxic work environment”. They first raised their concerns with their direct management.”

Feeling that the matter was not given the level of attention required, they also met with the Staff Union. Some, but not all, of those who are being dismissed, met with the US and Japan’s Permanent Missions.

This undoubtedly, the letter said, had an impact in terms of changing the leadership of The Office of Investment Management (OIM).

Subsequently these staff members were investigated, and their emails and WhatsApp messages scrutinized by OIOS, on the following charges:

    • Meeting with the US and Japan’s missions, or being aware that some of the staff in the group were meeting with those missions, and that sensitive information would be disclosed.

    • Raising concerns with the Staff Union and disclosing sensitive information.

“We are dismayed that staff should be formally disciplined for having raised alarm with their staff representatives. We are also very concerned that the Organisation has failed to uphold the Secretary-General’s Bulletin 2017/2/Rev.1 on Protection against retaliation for reporting misconduct and for cooperating with duly authorized audits or investigations,” the letter pointed out.

Under Section 4, such actions are permitted when the use of internal mechanisms is not possible because of either inaction, fear of retaliation or concealing of evidence. “We are further worried that your actions, in firing so many OIM staff at once and in preventing staff from raising genuine concerns, creates an unacceptable risk to the management of Pension Fund assets”.

The UN Principles for Responsible Investment states: “Effective whistleblowing mechanisms are a key feature of good governance and anti-corruption systems, as well as being reflective of a healthy corporate culture. They can help support companies to mitigate the risks associated with unethical or illegal conduct, which if left unchallenged can lead to significant corporate failures and loss of value.”

“We therefore ask that you reconsider your decision to terminate the Pension Fund’s senior investment officers on grounds of whistleblowing. “

At the time of going to press, the Pension Fund did not respond to our request for comments.

Meanwhile, in a letter to colleagues, Laura Johnson, Executive Secretary and Pablo Gonzalez Silva, Deputy Executive Secretary of the Staff Union of the UN Office at Geneva, share their concerns “regarding the recent firings of senior investment officers in the Pension Fund’s Office of Investment Management”.

As spelled in the letter sent by the staff union federation, CCISUA, to the Secretary-General, “these staff were fired for blowing the whistle. Their performance as investment managers is not in question”, the letter pointed out.

“We believe that these firings: go against the UN’s policy on whistleblower protection; lead to the loss of significant accumulated experience; and create a climate of fear among the pension fund’s investment managers that prevents them from voicing their own perspective on how investment policy is implemented.”

“The last point is especially important. The fund’s experienced investment managers must be able to voice their opinion, particularly when these contradict those of the head of the Office of Investment Management, a political appointment, known as the Representative of the Secretary-General. We strongly support this letter and will be discussing with other staff unions what further steps we can take.”

According to the Code of Conduct, the UN’s protection against retaliation policy is to ensure that the Organization functions in an open, transparent and fair manner and enhances protection for those who report misconduct (any violation of the Organization’s rules and regulations by staff members), wrongdoing (by any person that is harmful to the interests, operation or governance of the United Nations), or cooperate with duly authorized audits and investigations.

The reports and cooperation are considered “protected activities” under the policy. “In order to receive protection, any report should be made as soon as possible, in good faith and not later than six years since you became aware of the original misconduct.”

To be considered a protected activity, a report of misconduct must include information or evidence to support a reasonable belief that misconduct occurred. Under very specific and limited conditions, protection against retaliation may be extended to individuals who report misconduct through external mechanisms.

“Retaliation means any direct or indirect detrimental action that adversely affects your employment or working conditions, where such action has been recommended, threatened or taken for the purpose of punishing, intimidating or injuring you because you engaged in a protected activity. You must submit a request for protection to the Ethics Office within six months of becoming aware of the retaliation”.

Meanwhile, the Representative of the Secretary-General for the investment of the assets of the Fund (RSG), Pedro Guazo, reported on the progress made by the Office of Investment Management (OIM).

He informed the Board that as of 31 December 2023, the portfolio was valued at USD 88.18 billion, compared to USD 77.92 billion as of 31 December 2022. The Fund has been performing well with a real rate of return of 4.8 per cent over the 15-year long-term period ending December 31, 2023, and 5.2 per cent as of January 31, 2024, which is above the required minimum of real rate of return 3.5 per cent, according to the Pension Fund.

“It has also exceeded the market benchmark for the short-term (3 years) by 50 basis points as of December 31, 2023, and by 30 basis points as of January 31, 2024. In addition, the Fund demonstrated a 5-year return (2018-2022) of 4.2 per cent, outperforming both the global median of 3.3 per cent and the peer median of 2.7 per cent. The Fund’s assets-to-liabilities ratio, also known as the funding ratio, is greater than 110 per cent, indicating strong financial health,” the Fund said.

IPS UN Bureau Report

 


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Freedom of Speech Is Silenced in Nicaragua

Abigail Hernández (left) appears at a press conference with journalist Wendy Quintero, a member of Independent Journalists and Communicators of Nicaragua at the headquarters of the Nicaragua Nunca Más Rights Collective. CREDIT: José Mendieta / IPS

Abigail Hernández (left) appears at a press conference with journalist Wendy Quintero, a member of Independent Journalists and Communicators of Nicaragua at the headquarters of the Nicaragua Nunca Más Rights Collective. CREDIT: José Mendieta / IPS

By José Mendieta
MANAGUA, Mar 5 2024 – Almost six years after the outbreak of the April 2018 protests, there are no signs left in Nicaragua of the violence that reigned in those days. There is no graffiti on walls or banners with demands or opinions against the leftist regime that has ruled the country since 2007.

Nor are there newspapers or opinion programs or debates on radio and television, let alone press conferences or public rallies.”The Ortega and Murillo regime’s repressive mechanisms have escalated to dramatic and unimaginable levels. A simple opinion issued on social networks or a criticism of the regime could land you in jail or exile.” — Martha Irene Sánchez

The city of Managua, the capital, is always bustling and active, with markets and shopping malls open at all hours; traffic is usually disorderly and police patrols roam the streets and avenues at all times.

At noon every day, on all radio and television stations, the tired, quiet voice of Vice President Rosario Murillo is heard giving the government’s news, social achievements and propaganda messages such as phrases of love and praise to God.

The program, which has no specific name, is broadcast from Channel 4, the historical property of the Sandinista National Liberation Front (FSLN), the ruling party, to which the other state media are linked. The private media outlets controlled by the presidential family are also connected, together with dozens of radio stations and portals on social networks.

It first emerged in 2007 as “a message from comrade Rosario, from the Communication and Citizenship Council of the People’s President.”

“Here we are, on Valentine’s Day, with love, friendship, and for us, love and peace, because it is with love and in peace that we can walk ahead, move forward, building the future of all, a fraternal future,” she said on Feb. 13.

Murillo has been Nicaragua’s vice president since she was appointed in 2016 by her husband, President Daniel Ortega, the veteran former guerrilla who has been in office since November 2006.

Murillo is also the regime’s spokesperson and the only authorized voice, among the population of 6.7 million inhabitants of this Central American country, who can speak publicly and freely about anything. No one else can do so.

Freedom of expression in Nicaragua is one of the most repressed and abused rights, said journalist Abigail Hernández, director of the Galería News platform.

Journalist and former political prisoner Lucía Pineda Úbau, together with Martha Sánchez, take part in a protest by Nicaraguan journalists exiled in Costa Rica. CREDIT: José Mendieta / IPS

Journalist and former political prisoner Lucía Pineda Úbau, together with Martha Sánchez, take part in a protest by Nicaraguan journalists exiled in Costa Rica. CREDIT: José Mendieta / IPS

Her opinion, tellingly sent via an encrypted messaging application, is based on experience: three years’ exile.

“The media and journalists are a good thermometer for measuring the quality of freedom of expression,” Hernández told IPS.

“When we have less and less access to sources of information, when they limit us from reporting from the streets, when we can’t take photos or videos freely, when we can’t do our work inside the country, it reveals that there is no freedom of expression,” she said.

She is part of a generation of 242 journalists who have had to go into exile since the 2018 protests, which began against Social Security reforms and ended in a bloodbath provoked by military and police forces, with more than 355 civilian deaths, according to the Inter-American Commission on Human Rights (IACHR).

Journalist Martha Irene Sánchez, director of the República 18 platform, holds similar views, also expressed from exile.

“The scenarios for exercising freedom of the press and freedom of expression in Nicaragua have not improved since 2018; on the contrary, we are encountering more and more hostility,” she told IPS.

She is also a member of Independent Journalists and Communicators of Nicaragua (PCIN), a union organization that emerged after the protests and all of whose members went into exile.

“The Ortega and Murillo regime’s repressive mechanisms have escalated to dramatic and unimaginable levels. A simple opinion issued on social networks or a criticism of the regime could land you in jail or exile,” Sánchez said.

A forum for the presentation of the report on freedom of expression and press freedom in Nicaragua, released in September 2023 in San José, Costa Rica. The panel included journalists from Nicaragua from the Connectas platform, including FLED director Guillermo Medrano, (second-right). CREDIT: José Mendieta / IPS

A forum for the presentation of the report on freedom of expression and press freedom in Nicaragua, released in September 2023 in San José, Costa Rica. The panel included journalists from Nicaragua from the Connectas platform, including FLED director Guillermo Medrano, (second-right). CREDIT: José Mendieta / IPS

She cited the example of Victor Ticay, a local journalist in Nandaime, a municipality in the northwestern department of Granada, who went out one day to cover a procession during the Catholic Holy Week of 2023.

The event had not been authorized by the police, whose agents interrupted the religious ceremony and Ticay filmed the parishioners running away from the patrol cars through the streets of the town.

He was arrested, charged with treason and spreading false news and sentenced to eight years in prison.

Guillermo Medrano, director of the Foundation for Freedom of Expression and Democracy (FLED), explained to IPS that between 2020 and 2021, the Nicaraguan regime passed a series of laws criminalizing the practice of journalism and freedom of expression.

A study that FLED released in September 2023 in San José, Costa Rica, a country bordering Nicaragua and the center of the country’s exile community, documented 1329 press freedom violations, mostly perpetrated by state agents in the 2018-2023 five-year period.

The actions were taken against 338 Nicaraguan journalists and 78 media outlets, between April 2018 and April 2023.

They included the police intervention of several media outlets such as 100% Noticias, Confidencial, Trinchera de la Noticia, Radio Darío and La Prensa, the last newspaper circulating in Nicaragua until August 2022.

According to Medrano, the Special Law on Cybercrime, passed in October 2020, provides for prison sentences for the use of information “which in normal democracies should be freely accessible to citizens and the public.”

In theory, the main objective of this legislation is the prevention, investigation, prosecution and punishment of crimes committed by means of information and communication technologies to the detriment of natural or legal persons.

The press freedom advocate also pointed out that the Ortega-Murillo administration, which controls all state institutions and branches of power, as well as the security forces, established the Law for the Defense of the Rights of the People to Independence, Sovereignty and Self-Determination for Peace, effective since Dec. 22, 2020.

This law gives discretion to judges and prosecutors in terms of the crime of “treason”, which orders the banishment and denationalization of the accused, as well as life imprisonment through a reform of the penal system.

More than 180 people have already been prosecuted under these laws and at least 22 journalists were stripped of their citizenship and banished in 2023.

“Under these laws, freedom of speech and the press has become a high-risk constitutional right for those who exercise it within Nicaragua,” Medrano denounced.

A report by the regional organization Voces del Sur says that Nicaragua ended 2023 with new forms of repression and threats to press freedom applied through banishment, confiscations, illegal detentions and harassment and surveillance of the families of journalists working in exile.

The outlook, the report warns, is of greater silence about social issues.

Nicaraguan journalists conduct interviews under risk of persecution or criminalization, denounced several reporters in San José, Costa Rica, in August 2023. CREDIT: José Mendieta / IPS

Nicaraguan journalists conduct interviews under risk of persecution or criminalization, denounced several reporters in San José, Costa Rica, in August 2023. CREDIT: José Mendieta / IPS

According to the report, between 2018 and the end of 2022, 54 media outlets disappeared, including 31 radio stations, 15 television channels and eight print media outlets. Of that total, 16 media outlets were confiscated, including La Prensa, the country’s main daily newspaper.

“Sources, even under conditions of anonymity, are harder and harder to find, and the saddest thing is that the State, through its officials, continues to be the main victimizer of citizens’ rights of expression and journalists’ press rights,” Medrano complained.

The non-governmental Human Rights Collective Nicaragua Nunca Más, made up of human rights defenders and activists in exile, states that the Ortega-Murillo administration “has carried out an unprecedented attack on freedom of expression in this country.”

The organization reports that of 28 resolutions of precautionary measures for journalists in Latin America, which have been issued since 2018 by the IACHR on freedom of expression, 15 have been issued for Nicaragua.

However, it says that “none of the precautionary measures” have been complied with by the State and, on the contrary, harassment against the targets has increased.

“And that reveals to us the seriousness of the problem of a small country with disproportionate and unacceptable restrictions on fundamental freedoms,” said one of the agency’s advocates, on condition of anonymity for security reasons.

These complaints find no responses within Nicaragua, because with the exception of Murillo, no one is authorized to answer, but can simply repeat the official discourse: “Nicaragua lives in peace and security.”